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The real story behind America’s new $20 trillion debt
The real story behind America’s new $20 trillion debt Late yesterday afternoon the federal government of the United States announced that the national debt had finally breached the inevitable $20 trillion mark. This was a long time coming. It should have happened back in March, except that a new debt ceiling was put in place, […]
The real story behind America’s new $20 trillion debt
The real story behind America’s new $20 trillion debt Late yesterday afternoon the federal government of the United States announced that the national debt had finally breached the inevitable $20 trillion mark. This was a long time coming. It should have happened back in March, except that a new debt ceiling was put in place, […]
The world’s most powerful bank issues a major warning
The world’s most powerful bank issues a major warning In 1869, a 48-year old Jewish immigrant from the tiny village of Trappstadt in Germany’s Bavaria region hung a shingle outside of his small office in lower Manhattan to officially launch his new business. His name was Marcus Goldman, and the business he started, what’s now […]
Why you might as well paint a giant bulls-eye on your bank account
Why you might as well paint a giant bulls-eye on your bank account Vegetarians be forewarned… you won’t like what follows. We slaughtered a pig yesterday at the farm. I have two freezers full of pork now, and countless strips of bacon curing in the kitchen. I’ve written about this before– out here at the […]
Italy’s newest bank bailout cost as much as its annual defense budget
Italy’s newest bank bailout cost as much as its annual defense budget Two more Italian banks failed over the weekend– Banco Popolare di Vicenza and Veneto Banca. (In other news, the sky is blue.) The Italian Prime Minister himself stated that depositors’ funds were at risk, so the government stepped in with a bailout and […]
It’s time to become your own banker. Here’s how–
It’s time to become your own banker. Here’s how– Sometimes I wonder why most of the giant mega-banks are based in New York. They should be here in Las Vegas, the gambling capital of the world. Because that’s precisely what they’re doing with your money. Actually it’s not even your money. From a legal perspective, […]
Just a quick reminder of who’s really in charge
Just a quick reminder of who’s really in charge Today the world of banking and finance waited with baited breath for the Federal Reserve in the United States to hike… or not to hike… interest rates. This happens several times each year as the central bank’s Federal Open Market Committee gathers to set monetary policy […]
This bubble finally burst. Which one’s next?
This bubble finally burst. Which one’s next? Like so many other high-flying Silicon Valley startups, Clinkle was supposed to ‘make the world a better place’. Founded in 2011 by a guy barely out of his teens, the company picked up early buzz after proclaiming they would disrupt mobile payments. Or something. Silicon Valley venture capital […]
Three reasons why the banking system is rigged against you
Three reasons why the banking system is rigged against you If there were ever any doubt about how completely RIGGED the banking system is against depositors, allow me to introduce the following: Exhibit A: Governments are working to make banks LESS safe Yesterday an unelected bureaucrat that no one has ever heard of made a stunning […]
Former Treasury Secretary says banks may be riskier now than in the 2008 crisis
Former Treasury Secretary says banks may be riskier now than in the 2008 crisis “Sir. SIR! This your bag,” the TSA agent barked at me last week, more as a statement than a question. “It is.” “Are you carrying any liquids?” I knew immediately; I had forgotten about the bottle of water that I had […]
US recession data shows it’s a very short road to capital controls
US recession data shows it’s a very short road to capital controls “Prosperity is like a Jenga tower. Take one piece out and the whole thing can fall.” That’s a direct quote from John Williams, the President of the San Francisco Federal Reserve Bank in a speech he gave a few weeks ago. He could […]
BREAKING: US government releases its 2015 financial statements
BREAKING: US government releases its 2015 financial statements Hot off the presses, the US government just published its audited financial statements this morning, signed and sealed by Treasury Secretary Jack Lew. These reports are intended provide an accurate accounting of government finances, just like any big corporation would do. And once again, the US government’s […]
What’s the last dollar they can print before financial crisis?
What’s the last dollar they can print before financial crisis? In the field of mathematics, chaos theory studies the behavior of systems that are highly sensitive to initial conditions. The idea in chaos is that, like life itself, where you start today has tremendous influence on what happens next. In chaos, even very tiny changes […]
China is trying to centrally plan its way out of a black hole
China is trying to centrally plan its way out of a black hole It’s here in southwestern China’s postcard-perfect Yunnan province that the mighty Mekong River rises. From its source in a nearby mountain range, the river proceeds south, cutting its way across Southeast Asia’s fertile lands through Burma, Laos, Thailand, Vietnam, and Cambodia. The […]
