June 28, 2014
November 3, 2013
Excellent documentary from Four Horsemen of how the world really works.
November 2, 2013
Interesting interview with John Butler over the future and eventual re-monetization of Gold. Butler claims there is a massive financial earthquake to come with paper currencies are repudiated. 2008 was only a fore-shock.
The German Bundesbank under the Constitution can go to court if it feels the German currency (i.e euro) is under threat from the ECB. In that case the markets would immediately react negatively and the “shit would hit the fan”. In other words, the future of the euro may well be in the German Bundesbank’s hands.
November 2, 2013
The Bank of Finland has announced that over 50% of the countries Gold reserves are held in London. Finland joins a long list of Western countries whose Gold reserves are stored at either New York, London or both. This leads credibility to the claim that Central Banks have been leasing and loaning out its Gold reserves to help surpress gold prices.
The Bank of Finland’s reserves include 49.035 tonnes of gold, valued at a market price of EUR 1,559 million as at 25 October 2013.
The Bank has confirmed the current arrangements for storing the gold held in its reserves. Having received the agreement of the central banks involved, it has decided to publish this information. The gold is stored on a geographically decentralised basis at a number of central banks: 51% is in the United Kingdom (Bank of England), 20% in Sweden (Sveriges Riksbank), 18% in the United States (Federal Reserve Bank of New York), 7% in Switzerland (Schweizerische Nationalbank) and 4% in Finland (Bank of Finland).
Source: Bank of Finland
October 21, 2013
Peter Schiff exposes the PR job done by the presstitutes on Janet Yellon.
October 13, 2013
A US debt default could trigger a nightmare scenario that many economists have been warning about. Eventually this shit pile of debt will have to be dealt with but is this the moment ? One thing is for sure, this can easily be avoided but as usual politicians like to play Russian roulette.
The following are 12 very ominous warnings about what a U.S. debt default would mean for the global economy…
#1Gerald Epstein, a professor of economics at the University of Massachusetts Amherst: “If the US does default, that will make the Lehman Brothers bankruptcy look like a cakewalk”
#2Tim Bitsberger, a former Treasury official under President George W. Bush: “If we miss an interest payment, that would blow Lehman out of the water”
#3Peter Tchir, founder of New York-based TF Market Advisors: “Once the system starts to break down related to settlement and payments, then liquidity disappears, as we saw after Lehman”
#4Bill Isaac, chairman of Cincinnati-based Fifth Third Bancorp: “We can’t even imagine all the things that might happen, just like Henry Paulson couldn’t imagine all the bad things that might happen if he let Lehman go down”
#5Jim Grant, founder of Grant’s Interest Rate Observer: “Financial markets are all confidence-based. If that confidence is shaken, you have disaster.”
#6Richard Bove, VP of research at Rafferty Capital Markets: “If they seriously default on the debt, what we’re really talking about is a depression”
#7Chinese vice finance minister Zhu Guangyao: “The U.S. is clearly aware of China’s concerns about the financial stalemate [in Washington] and China’s request for the US to ensure the safety of Chinese investments.”
#8The U.S. Treasury Department: “A default would be unprecedented and has the potential to be catastrophic: credit markets could freeze, the value of the dollar could plummet, U.S. interest rates could skyrocket, the negative spillovers could reverberate around the world, and there might be a financial crisis and recession that could echo the events of 2008 or worse”
#9Goldman Sachs: “We estimate that the fiscal pull-back would amount to 9pc of GDP. If this were allowed to occur, it could lead to a rapid downturn in economic activity if not reversed quickly”
#10Simon Johnson, former chief economist for the IMF: “It would be insane to default, but it’s no longer a zero-percent probability”
#11Warren Buffett about the potential of a debt default: “It should be like nuclear bombs, basically too horrible to use”
#12Bloomberg: “Anyone who remembers the collapse of Lehman Brothers Holdings Inc. little more than five years ago knows what a global financial disaster is. A U.S. government default, just weeks away if Congress fails to raise the debt ceiling as it now threatens to do, will be an economic calamity like none the world has ever seen.”