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India Enters the Sovereign Debt Crisis
India Enters the Sovereign Debt Crisis I have warned continually that the Sovereign Debt Crisis will unfold not so much by people selling government debt, but by the lack of people buying new debt. The greatest peril is when there is NO BID for the new issues because all governments are operating a PONZI scheme. The sell […]
Is Cryptocurrency a Ponzi Scheme?
Is Cryptocurrency a Ponzi Scheme? Just three weeks ago Bitconnect announced it was shutting down after being accused of running a Ponzi scheme. Techcrunch chronicles Bitconnect’s decline noting how the term “pyramid scheme” was not an unfair assessment as to what was going on: “Bitconnect was an anonymously-run site where users could loan their cryptocurrency […]
The Pension Ponzi Scheme is Coming to an End
The Pension Ponzi Scheme is Coming to an End Inevitably, all things must come to an end. Our entire problem with government is we have ZERO accountability and ZEROqualification standards to even run for office. The Democrats have put forth blacks and women, not because of their abilities, but simply because they want to […]
10 Years Automatic Earth
10 Years Automatic Earth Winslow Homer Mending the nets 1881 Yes, it’s 10 years ago today, on January 22 2008, that Nicole Foss and I published our first article on the Automatic Earth (the first few years on Blogger). And, well, obviously, a lot has happened in those 10 years. For ourselves, we went from […]
The Darkest Hours
The Darkest Hours The Tax “Reform” bill working its way painfully out the digestive system of congress like a sigmoid fistula, ought be re-named the US Asset-stripping Assistance Act of 2017, because that’s what is about to splatter the faces of the waiting public, most of whom won’t have a personal lobbyist / tax lawyer […]
Chinese Banks Push Back On Shadow Banking Regulations – Expose “Catch-22” For Financial System
Chinese Banks Push Back On Shadow Banking Regulations – Expose “Catch-22” For Financial System In November, we discussed how the post-Party Congress measures to deleverage and crackdown on the worst abuses in China’s credit bubble took an important step forward with the announcement of a new era of regulation for China’s $15 trillion shadow banking […]
It Begins: Pension Bailout Bill To Be Introduced This Week
It Begins: Pension Bailout Bill To Be Introduced This Week Over the past year we have provided extensive coverage of what will likely be the biggest, most politically charged, and most significant financial crisis facing the aging U.S. population: a multi-trillion pension storm, which was recently dubbed “one of the most heated battles of a […]
The Biggest Ponzi in Human History
The Biggest Ponzi in Human History Jean-Léon Gérôme Slave market 1866Here’s the story in a nutshell: Ultra low interest rates mark a shift away from people’s wealth residing in their savings and pension plans, and into to so-called wealth residing in their homes, which are bought with ever growing levels of debt. When interest rates […]
The Consent of the Conned
The Consent of the Conned Every single line item in our entire Bernie Madoff scam of a system is cooked. My theme this week is The Great Unraveling, by which I mean the unraveling of our social-political-economic system of hierarchical, centralized power. Let’s start by looking at how the basis of governance has transmogrified from […]
My prediction: the coming collapse of China’s Ponzi scheme economy
My prediction: the coming collapse of China’s Ponzi scheme economy So much production in industries like steel is based on demand for more production, but should that demand falter, the whole system could come crashing down Friends who have a greater interest than I do in reading the tea leaves in Beijing tell me that […]
Cracks in Ponzi-Finance Land
Cracks in Ponzi-Finance Land Retail Debt Debacles The retail sector has replaced the oil sector in a sense, and not in a good way. It is the sector that is most likely to see a large surge in bankruptcies this year. Junk bonds issued by retailers are performing dismally, and within the group the bonds […]
Will Trump Accept Responsibility When This Shitshow Implodes?
WILL TRUMP ACCEPT RESPONSIBILITY WHEN THIS SHITSHOW IMPLODES? Donald J. Trump has taken credit for making America’s economy great again. He’s been crowing about all the jobs being created, the soaring consumer confidence and record highs in the stock market. It’s all because the Donald has inspired Americans about our glorious future. But, a funny […]
The Pension Crisis is Global
The Pension Crisis is Global The worldwide pension crisis is the next great notch in the belt of the collapse of socialism. If anyone in the private sector promised workers pensions and did not fund them, they would go to jail and be labelled as a fraud. Yet, this is standard operating procedure for government. […]
Negative Interest Rates and the War on Cash (1)
Negative Interest Rates and the War on Cash (1) Irving Underhill City Bank-Farmers Trust Building, William & Beaver streets, NYC 1931 It’s been a while, but Nicole Foss is back at the Automatic Earth -which makes me very happy-, and for good measure, she starts out with a very long article. So long in fact that […]
Essential history: ‘Forever debt’ Federal Reserve system invented to pay interest without ever ever ever repaying debt – definition of ‘Ponzi scheme’
Essential history: ‘Forever debt’ Federal Reserve system invented to pay interest without ever ever ever repaying debt – definition of ‘Ponzi scheme’ Posted on February 25, 2016 by Carl Herman Ponzi scheme: criminal fraud of paying existing “investors” only and always from new “investors.” Collapse occurs without new “investors” and/or existing “investors” panic to cash-in. The US Federal […]
