{"id":26996,"date":"2017-10-18T17:52:10","date_gmt":"2017-10-18T22:52:10","guid":{"rendered":"http:\/\/olduvai.ca\/?p=26996"},"modified":"2017-10-18T17:52:10","modified_gmt":"2017-10-18T22:52:10","slug":"looming-catastrophe-hanging-over-our-heads","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=26996","title":{"rendered":"Looming Catastrophe Hanging Over Our Heads\u00a0"},"content":{"rendered":"
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Looming Catastrophe Hanging Over Our Heads\u00a0<\/a><\/h3>\n<\/header>\n
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\"\"<\/a><\/strong>Former Assistant Treasury Secretary in the Reagan Administration, Dr. Paul Craig Roberts, says the record highs you see in the stock markets are based on \u201cphony profits\u201d<\/strong> that come from global central banks \u201cpropping up\u201d<\/strong> the financial system. Roberts says, \u201cAny of these central banks are really only there for a handful of big banks. That\u2019s all they are concerned with. All the Federal Reserve has been concerned with for the last decade is the welfare of a handful of mega banks. Of course, the banks are too large. They should have never been allowed to get that large. When you have a bank too big to fail, then your policy has failed. You\u2019ve allowed too much concentration. Where is anti-trust? Where is the Sherman Act? Everything that was legislated in the past to prevent the kind of looming catastrophe that is hanging over our heads, this looming catastrophe is produced by central banks. They are perpetuating it because they don\u2019t know how to get out of it.\u201d<\/p>\n

<\/span>The International Monetary Fund (IMF) has just warned on the profitability of nine huge global banks. Some say they equal nine possible Lehman Brothers, which was the financial institution that started the 2008 meltdown. Is the IMF terrified of the slightest correction in the markets? Dr. Roberts says, \u201cI think so, yes, because it\u2019s not based on reality. It\u2019s based on massive liquidity. So, it\u2019s full of all kinds of dangers.\u201d<\/p>\n

The biggest danger to Dr. Roberts, who has a PhD in economics, is the U.S. dollar. Dr. Roberts contends, \u201cIt seems to me that the only thing that would cause the Federal Reserve to stop the liquidity would be if the U.S. dollar fell under attack.<\/p>\n

…click on the above link to read the rest of the article…<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Looming Catastrophe Hanging Over Our Heads\u00a0 Former Assistant Treasury Secretary in the Reagan Administration, Dr. Paul Craig Roberts, says the record highs you see in the stock markets are based on \u201cphony profits\u201d that come from global central banks \u201cpropping up\u201d the financial system. Roberts says, \u201cAny of these central banks are really only there […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[124,303,16578,8757,16579,434,2951,3650,9699],"class_list":["post-26996","post","type-post","status-publish","format-standard","hentry","category-economics","tag-central-banks","tag-fed","tag-financial-suste","tag-greg-hunter","tag-imfi","tag-international-monetary-fund","tag-paul-craig-roberts","tag-us-federal-reserve","tag-usa-watchdog"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/26996","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=26996"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/26996\/revisions"}],"predecessor-version":[{"id":26997,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/26996\/revisions\/26997"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=26996"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=26996"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=26996"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}