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The ONLY Variable That Matters To The Price Of Gold
The ONLY Variable That Matters To The Price Of Gold There are all sorts of positive fundamentals when it comes to the price of gold. There are the positive supply/demand fundamentals. The gold market is in a supply deficit. Mine reserves are at a 30-year low . The price of gold is below what […]
Venezuela Bankrupt? Caracas Fails To Make Sept 15 Interest Payment
Venezuela Bankrupt? Caracas Fails To Make Sept 15 Interest Payment Exactly one week ago, we wrote that a “Venezuelan default is only a matter of time”. We said that “while debt servicing has been a government priority, declining external liquidity and a deteriorating domestic situation (three-digit hyperinflation, shortages, and a political crisis between the government […]
Offshore Drilling Giant Seadrill Files For Bankruptcy
Offshore Drilling Giant Seadrill Files For Bankruptcy Seadrill Ltd., the London-based offshore driller controlled by billionaire Norwegian shipping magnate John Fredriksen, filed bankruptcy protection in the Southern District of Texas after working out a deal with most of its senior lenders to inject $1 billion of new money into the company pursuant to a pre-arranged […]
“Greatest Fiscal Crisis In Our City’s History”: Hartford Warns It Will Be Broke In 60 Days
“Greatest Fiscal Crisis In Our City’s History”: Hartford Warns It Will Be Broke In 60 Days Well, that escalated quickly. Just two months after Standard & Poor’s downgraded its general obligation debt to junk status, warning that the historic Connecticut capital could soon follow other once-proud cities like Detroit into bankruptcy, Hartford city officials confirmed […]
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 […]
Rome’s Transport System Faces “Meltdown,” On Brink Of Collapse
Rome’s Transport System Faces “Meltdown,” On Brink Of Collapse New York City’s deteriorating subway has a rival for world’s most dysfunctional public transportation system. After only three months on the job, Bruno Rota, the head of Rome’s public-transit company has announced that he’s leaving his post, saying that the Italian capital city’s decaying transportation system […]
Italian Government Approves Alitalia Bankruptcy, Bonds Collapse
Italian Government Approves Alitalia Bankruptcy, Bonds Collapse Earlier we reported that Italy’s national carrier, Alitalia, did what many expected it to do after last week’s rescue plan, which would have cut 1,700 jobs and slashed pay, failed and filed for bankruptcy. What was less expected is that just hours after filing, the Italian government approved […]
Trying to Save Monte Paschi – Oldest Bank in the World
Trying to Save Monte Paschi – Oldest Bank in the World The EU Commission is looking to bailout Monte Paschi by almost eliminating more than 5,000 jobs. The Monte Paschi plan that was presented last October called for 2600 layoffs. It is the oldest surviving bank in the world and the third largest Italian commercial and retail bank […]
A Bankruptcy of Nuclear Proportions
A Bankruptcy of Nuclear Proportions With the failure of Westinghouse, the future of American nuclear power looks even bleaker. (JEFF FUSCO/Getty Images) Summary In any given year, a handful of companies file for Chapter 11 bankruptcy in the United States. Rarely, however, does one of these filings reverberate beyond the boardroom and into the realm […]
What A Westinghouse Bankruptcy Could Mean For U.S. Utilities
What A Westinghouse Bankruptcy Could Mean For U.S. Utilities International news services now report that Japan’s Toshiba Corporation (9502.T) is preparing to make a chapter 11 bankruptcy filing for its Westinghouse Electric subsidiary as soon as this Monday, March 27. For most of our readers this news evokes little surprise. This is merely another chapter […]
This Region Of The World Is Being Hit By The Worst Economic Collapse It Has Ever Experienced
This Region Of The World Is Being Hit By The Worst Economic Collapse It Has Ever Experienced The ninth largest economy in the entire world is currently experiencing “its longest and deepest recession in recorded history”, and in a country right next door people are being encouraged to label their trash so that the thousands […]
How Cheap Debt Avoids Countries Of Going Bankrupt
How Cheap Debt Avoids Countries Of Going Bankrupt It’s not a secret the cheap debt policy from the European Central Bank has really helped out several European countries to keep the government finances under control. Well, more or less, as several members of the Eurozone are still running huge budget deficits. Source: European Commission When the […]
Retailpocalypse 2017: Hundreds of Stores Will Be Closing
Retailpocalypse 2017: Hundreds of Stores Will Be Closing After Christmas, all is not calm and bright in the retail world. For those who are still under the illusion that our economy is great and prosperity is nigh, you might want to consider the massive loss of jobs that will be forthcoming as stores across the […]
Savings Guarantee? U.N. Warns Next Financial Crisis Imminent
Savings Guarantee? U.N. Warns Next Financial Crisis Imminent “There remains a risk of deflationary spirals in which capital flight, currency devaluations and collapsing asset prices would stymie growth and shrink government revenues. As capital begins to flow out, there is now a real danger of entering a third phase of the financial crisis …” UN […]
