BENNIE AND THE FEDS
Ben Bernanke has all the emotion of a fried circuit board.
His dome is buffed, his beard is fastidiously trimmed, but I’ve never seen the guy smile.
Even if he weren’t Wall Street’s android, it’s not smiling time for the B-man, because after months of fighting tooth and nail all the way to the Supreme Court to stop it, Bennie and the Feds lost their effort to keep the records of what they did during the financial crisis hidden from the American public.
As a result, last Thursday, the Fed vomited 30,000 pages of previously confidential information into the public consciousness. Read more »
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.
A GREEK TRAGEDY
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 »
Lest you think that the People’s Republic of China is not involved in seeking to dethrone the US dollar as the world’s reserve currency, Hu Xialoian, Vice-Governor of the People’s bank of China, on Friday said that the currency of the International Monetary Fund (IMF) can serve that purpose instead of the dollar.
This is no surprise as the Governor of the People’s Bank of China called for this “adjustment” in international finance as far back as 2009 Read more »
There needs to be a system of oversight and checks and balances that monitors and corrects (as needed) The Bank for International Settlements, and its subordinate unit called the Financial Stability Board.
These organizations are making decisions behind closed doors that affect the economies of the nations of earth. 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 »
There are two things that are negative indicators for the
bond market. Many people know these things but they are worth repeating.
In the first place, interest rates are essentially at zero that means that interest rates have nowhere to go but up. When interest rates go up the value of bonds go down because the lower interest rate bond must sacrifice principal to be competitive with the bonds with higher rates. 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 »
Most people have no idea that the International Monetary Fund and the World Bank do make Jesse and Frank James look like boy scouts. Set up in the closing years of the Second World War, these two “sister” financial organizations were essentially established to be the organizational pillars of the new financial order following WWII. The World Bank was set up to provide loans for war-torn Europe and the International Monetary Fund was to keep a balance between international currency transactions.
Read more »