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How the US Aristocracy Deceive the US Public
How the US Aristocracy Deceive the US Public The progressive former Democratic US Senator Ted Kaufman wrote at Forbes, on 22 July 2014: Another year has passed with no one from a Wall Street bank going to jail for the criminal behavior everyone knows helped cause the financial crisis. Fines against Wall Street banks are reaching $100 […]
China’s rise, America’s fall
China’s rise, America’s fall Will the rise of China mean the fall of America? In a word, yes. Although decline might be more accurate. Why do I think this? Because China is about to launch the PetroYuan and when it does the demand for dollars and for dollar denominated debt will shrink. When it does, […]
The EU Just Did the Big Banks a Massive Favor
The EU Just Did the Big Banks a Massive Favor “Testimony to the iron grip the financial industry’s lobby still exerts on governments and legislators.” The European Union’s executive arm, the European Commission, made a lot of bank executives very happy this Tuesday by abandoning its multi-year pledge to break-up too-big-to-fail lenders. Despite the huge […]
Bank Run Imminent: Catalan Separatists Urge Supporters To Pull Cash From Bank
Bank Run Imminent: Catalan Separatists Urge Supporters To Pull Cash From Bank As tension escalate in Spain, Catalan Separatists are potentially about to do some real damage and hit Spain where it really hurts. In a tweeted message to their 270,000 followers, Assemblea Nacional urged supporters to pull cash from CaixaBank and Banco Sabadell branches […]
In a Cashless World, You’d Better Pray the Power Never Goes Out
In a Cashless World, You’d Better Pray the Power Never Goes Out When Hurricane Maria knocked out power in Puerto Rico, residents there realized they were going to need physical cash — and a lot of it. Bloomberg reported yesterday that the Fed was forced to fly a planeload of cash to the Island to help avert disaster: […]
Betrayal!
Shutterstock Betrayal! The pervasive & defining crime of our age Let me apologize in advance for what may be an upsetting piece of writing for some of you. If you’re in a state of shock or exhaustion from recent events, perhaps you should skip this one. I don’t offer this analysis in order to further […]
“What Are We Going To Do?” Puerto Rico In Chaos As Cash Runs Out
“What Are We Going To Do?” Puerto Rico In Chaos As Cash Runs Out Most Puerto Ricans haven’t had access to electricity, cell service or financial services for nearly two weeks now. And as we reported yesterday, residents who didn’t stockpile enough cash have been struggling after Hurricane Maria essentially knocked the island’s economy into […]
The World Is Creeping Toward De-Dollarization
The World Is Creeping Toward De-Dollarization The issue of when a global reserve currency begins or ends is not an exact science. There are no press releases announcing it, and neither are there big international conferences that end with the signing of treaties and a photo shoot. Nevertheless we can say with confidence that the […]
Kyle Bass: China’s $40 Trillion Banking System Has “Largest Imbalances I’ve Ever Seen”
Kyle Bass: China’s $40 Trillion Banking System Has “Largest Imbalances I’ve Ever Seen” Kyle Bass’s Hayman Capital has been having a rough year thanks to its widely publicized bet against China’s currency, which has more than reversed its 2016 decline – its largest annual drop since 1994 – as the People’s Bank of China has […]
Dear Jamie Dimon: Predict the Crash that Takes Down Your Produces-Nothing, Parasitic Bank and We’ll Listen to your Bitcoin “Prediction”
Dear Jamie Dimon: Predict the Crash that Takes Down Your Produces-Nothing, Parasitic Bank and We’ll Listen to your Bitcoin “Prediction” This is the begging-for-the-overthrow-of-a-corrupt-status-quo economy we have thanks to the Federal Reserve giving the J.P. Morgans and Jamie Dimons of the world the means to skim and scam the bottom 95%. Dear Jamie Dimon: quick […]
Money Multiplier is Really About Credit Out of “Thin Air”
MONEY MULTIPLIER IS REALLY ABOUT CREDIT OUT OF “THIN AIR” According to traditional economics textbooks, the current monetary system amplifies the initial monetary injections of money. The popular story goes as follows: if the central bank injects $1 billion into the economy and banks have to hold 10% in reserve against their deposits the initial […]
On Guard Against The Banks
On Guard Against The Banks Following the events of yesterday, it seems wise this morning to take an in-depth look at the charts in order to discern what moves The Banks may take next in the hope of stemming this rally and reversing the trends. Let’s start with Comex Digital Gold. It has been in […]
America Can’t Afford to Rebuild
America Can’t Afford to Rebuild Adolphe Yvon Genius of America c1870A number of people have argued over the past few days that Hurricane Harvey will NOT boost the US housing market. As if any such argument would or should be required. Hurricane Irma will not provide any such boost either. News about the ‘resurrection’ of […]
Does Government Spending Create More Economic Growth?
Does Government Spending Create More Economic Growth? After the 2007-2009 global financial crisis, fears of ballooning public debt and worries about the drag on economic growth pushed authorities in some countries to lower government spending, a tactic that economists now think may have slowed recovery. Note that in the United States the total debt to […]
Nomi Prins: Big Bank Concentration and Counterparty Risk Expands
Nomi Prins: Big Bank Concentration and Counterparty Risk Expands Nomi Prins joined Sprott Money News for its Ask the Expert segment that covered the Federal Reserve system, Glass-Steagall reform and even the recent activity from the U.S Treasury. Beginning the conversation she highlighted U.S debt and the position of U.S treasury bonds. Prins remarks, “One […]
