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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 […]
An interesting perspective on the War on Cash
An interesting perspective on the War on Cash It’s happening faster than we could have ever imagined. Every time we turn around, it seems, there’s another major assault in the War on Cash. India is the most notable recent example– the embarrassing debacle a few weeks ago in which the government, overnight, “demonetized” its two […]
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 […]
This is how World War III starts—it will be financial
This is how World War III starts—it will be financial In his History of the Peloponnesian War, ancient Greek historian Thucydides told us the tale of a dominant regional power (Sparta) that felt threatened by the rise of a competing power (Athens). Sparta felt so threatened, in fact, that all the moves they made to keep […]
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 […]
German bank that almost failed now being paid to borrow money
German bank that almost failed now being paid to borrow money The 12.5 hours spent crossing the Pacific on Qantas flight 27 feels like going through a wormhole. The flight departs Sydney, Australia at 12:50pm and arrives to Santiago, Chile the same day at 11:20am. In other words, the plane lands 90 minutes before it […]
It’s a revolution: German banks told to start hoarding cash
It’s a revolution: German banks told to start hoarding cash Just stunning. German newspaper Der Spiegel reported yesterday that the Bavarian Banking Association has recommended that its member banks start stockpiling PHYSICAL CASH. Europe, of course, has been battling with negative interest rates for quite some time. What this means is that commercial banks are being charged […]
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 […]
Trumping the Federal Debt Without Playing the Default Card
Trumping the Federal Debt Without Playing the Default Card By Ellen Brown, Web of Debt. “The United States can pay any debt it has because we can always print money to do that. So there is zero probability of default.” — Former Fed Chairman Alan Greenspan on Meet the Press, August 2011 In a post on “Sovereign […]
Trumping the Federal Debt Without Playing the Default Card
Trumping the Federal Debt Without Playing the Default Card “The United States can pay any debt it has because we can always print money to do that. So there is zero probability of default.” — Former Fed Chairman Alan Greenspan on Meet the Press, August 2011 In a post on “Sovereign Man” dated August 14th, Simon Black […]
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 […]
