The catastrophes in Japan and new pseudo-war in Libya have driven the European Financial Crisis off the front pages of the world press. But that crisis continues unabated. This is the first of a three part article on the expanding financial crisis in Europe.
Twenty thousand battle-hardened troops and cavalry stormed off 600 Persian war ships onto the Plains of Marathon 26 miles north of Athens. Read more »
For those people that want to stay connected we provide a premium Inner Circle membership which is available at www.crisisbydesign.net. Members of this Inner Circle receive audio blogs and written blogs from me about matters of finance, banking, the economy, and politics. Read more »
I have been recommending silver since it was in the $4-$5 per ounce range. Today it is trading in excess of $33 an ounce.
I still think it is a good value.
Will Silver continue to go up forever? Of course not.
But in my opinion there is still a lot of upside to the silver bull market. Read more »
Government agents confiscating your retirement account sounds like something out of a George Orwell novel.
Don’t look now, but such a plan is in the early stages of development.
It will start voluntarily, but I predict that the time will come, when the government will do this to “protect” you from your own financial crisis.
In Crisis by Design, I raised the prospect that the government had a long-term strategy designed to take control of the retirement accounts of individuals. This would include IRAs and 401(k)s. Read more »
The U.S. budget deficit this year is projected to be $1.65 trillion. This follows a budget deficit of the first two years of the Obama administration of about $3.8 trillion. The first year, the budget deficit was about $1.4 trillion. The second year it was about $1.3 trillion and this year it’s projected to be $1.6 5 trillion. This equates to $4.3 trillion in budget deficits in the first three years of this administration. Read more »
Recent interview of John Truman Wolfe on WGN TV Chicago covering the problems with the dollar losing favor as the international currency along with investing tips during this financial crisis.
John Truman Wolfe Talks About His Book, Crisis by Design: The Untold Story of the Global Financial Coup and What You Can Do About It.
Watch it here: John Truman Wolfe on WGN TV Chicago
Fortune tellers have a good opportunity to choose from a short menu of life’s problems and desires and land on something the person is concerned about.
If it isn’t love, it’s money and visa versa.
Predicting the financial markets in the midst of an economic crisis (which, media spin and the DJIA* aside, is still with us) is less forgiving and is somewhat akin to walking a metaphorical tightrope without a net. A misstep could cause you to fall and break your reputation, which, truth be told, can be picked up and dusted off and put back in the game.
But too many falls and your audience quits coming to your show.
I don’t have a show, beyond a book to read, and being a financial prophet is best left to Warren Buffet and friends. But modesty aside, I have been encouraging the ownership of silver since it was $4 per oz and it is now battering at the door of $30 per (with, in my opinion, a lot more upside).
And while the success story is not yet as dramatic, I make clear in Crisis by Design that deploying one’s assets should include a modest diversification out of dollars and into the Chinese Yuan (AKA the Renminbi or RMB for short).
No surprise then that the Chinese government has just announced that it is permitting Yuan deposits at the state owned Bank of China for U.S customers. There are branches in New York and Los Angeles currently.
The Yuan has already started a modest appreciation against the dollar, but with the U.S. government continuing its annual party of trillion dollar budget deficits (this year’s is projected to be $1.5 trillion!) the dollar will likely see continued erosion on world currency markets. The other side of the coin is the fact that the Chinese economy grew about 10% last year and China contributed a staggering 50% of the planet’s economic growth in 2009.
China’s opening the gates to the relatively free trading of the RMB signals a paradigm shift in the global economy and, in our opinion, argues strongly for further appreciation of that nation’s currency.
RMB deposit accounts are also available at www.everbank.com.
All said, bear in mind the old adage and SEC mandated admonition, past performance is no indication of future results.
It is also important that you understand that buying a foreign currency is buying a commodity: the value can go up or down depending on currency markets, meaning there is risk involved.
Be well and Keep your powder dry.
* Dow Jones Industrial Average
A jet airplane is screaming across the sky at the speed of sound (about 750 miles per hour). A stream of green paper begins reeling out behind it.At the speed of sound, it would take 14 years before it reeled out one trillion dollar bills. Seven hundred and fifty miles and hour – fourteen years. Read more »