July and onward things get very strange. Revolution. Dollar dead by November 2010.
A must watch two part interview of Eric Sprott by BNN, in which the Canadian asset manager shares his views on the economy, financial markets, sovereign overleverage, industrial commodities, and, of course, gold.
The prices of Bonds, particularly the longer term Bonds (10, 20, 30 years), are rather sensitive to changes in interest rates. Unless you hold a Bond to maturity, its price can fluctuate rendering your investment not all that risk-free after all.
The Eurozone may be forced to undergo severe economic and political adjustments in order to manage a currency system they're stuck with. Many Europeans are suddenly realizing that they had no idea what they were agreeing to when they joined...
The time when we could have done something to fix the system is now long gone, courtesy of the administration's waffling for the past two years as instead of getting to the root cause of the last and future crash, it was focused on bailing out bankru
Already the Euro has given up 100% of its gains. Round trip currency moves of 3% each way, from 1.27 to 1.31 and back, in just over a day are not the norm to say the least. This could get very interesting soon enough.
This is a short interview of Ron Paul by Stewart Varney of Fox News.
-The second is that that the market will see through the charade of debt that is again unfolding and by week’s end we will have retraced most of this morning’s moves. That is a scary outcome. There is no round two on this bailout. This is it.
"Money is printed or created and thrown at people to actually cover their insolvency with waves of free money and waves of liquidity that we end up with fiat currencies being completely devalued in the eyes of people and gold at $7,000 an ounce...
With what authority does Bernanke effectively appropriate? Was there an appropriation bill that I seem to have missed by Congress? Or has Bernanke, once again, decided on a unitary basis to entirely ignore the US Constitution?
The new war chest would be used for countries like Portugal or Spain in case their finances buckle. Deficits are set to reach 8.5 percent of gross domestic product in Portugal and 9.8 percent in Spain this year, above the euro region’s 3 percent limi
Update IX: In addition to the fund itself, the ECB will begin buying bonds on the secondary market -- quantitative easing, basically.
This is a legal minefield. A group of professors has already filed a case at Germany's Constitutional Court, claiming that the Greek bail-out is illegal and that the EMU is degenerating into a zone of monetary disorder.
Here is a simplified representation of why anything and everything that the EU, ECB and the IMF can do now is simply delay the inevitable disintegration of the eurozone and the upcoming eventual debt payment moratorium.
Euro (and the market) surging on rumors that the ECB is preparing to bail out 1,100 banks in Europe. And with that the bailout moves officially to Europe. From the dealer community:
Europe is dead. The European nations are the victors, and the way ahead will be one hell of a mess. Without taxing and borrowing power, there is no way to square the inter-euro trade balances between the countries except ‘internal devaluation,’
Unity of currency without unity of government and fiscal policy and taxation is difficult if not impossible to maintain. One world currency is the step to one world government. And those who control the currency will, almost inevitably, control the..
The Treasury is still fishing for blanket authority to change compositions rather than asking the Congress to authorize a specific replacement composition as used to be done.
Tim Geithner, the US Treasury Secretary, is to meet with China's vice-premier on Thursday in an unexpected visit likely to advance hopes of an end to Beijing's currency peg. Mr Geithner's meeting with Wang Qishan comes just days before President
California, New York and other states are showing many of the same signs of debt overload that recently took Greece to the brink — budgets that will not balance, accounting that masks debt, the use of derivatives to plug holes, and armies of retired
Reuters: President O announced details of his new initative to pass the “Retirement Annuity Act “(RAA). The president said the taxpayer does not have the necessary sophisticated financial knowledge (no inside information, no lobbyists to ensure la
As you know, Russia, India, China and some of the BRIC-like countries will continue to push hard for a gold and silver content in the new formulation of the SDR this year. The US and UK are vehemently opposed.
As we noted this weekend, that takes a lot of the "fun" and excitement out of the market (where retail leverage can go as high as 100x), and it means the industry could go the way of online poker.
It reminds me of FDR's move to confiscate gold held by individuals. After it was all confiscated and it was made illegal for individuals to hold gold, the insiders, including John Maynard Keynes and Bernard Baruch, loaded up on gold stocks.
WXII News from Winston Salem, N.C. reports on counterfeit money being spread around the local area. Someone is turning $5.00 into $100.00 bills and using them for ordinary purchases.
Read 'em and weep, boys! If you keep any money in the banking system after reading this, then you deserve what is about to happen to you! You have been warned
The euro has had it, and has a long way to go before it finds a bottom. He is urging investors to short the European currency and go long Canadian and Australian dollars against it. They may resolve Greece, but not Portugal, Spain, or Italy.
European Central Counterparty Limited (EuroCCP) is a UK-incorporated, FSA Recognised Clearing House that is governed by its European users. It is the European subsidiary of The Depository Trust & Clearing Corporation (DTCC) headquartered in London.
When the bills finally come due and the dollar stops working we are in for real social, economic and political chaos. Unless we take major steps now to allow for a peaceful transition in the future. These steps are to legalize competing currencies.