The currencies are all falling right now. China has a hugh amount of our dollars and will not want to take a loss when the dollar turns. They have recently requested the companies to give account of the foreign currencies they have. They are also starting to store oil. They have also wanted to increase [...]
Veteran investor Jim Rogers warns that the policies of central banks and politicians are turning what would have been a recession into a new great depression, and that Barack Obama’s taxation agenda will only make the problem much worse.
Speaking to Bloomberg News, Rogers said that the crisis would at least be the worst since the [...]
TOKYO — When the Federal Reserve cut its benchmark rate to virtually zero earlier this week, what was a historic move in Washington seemed like old hat here in Tokyo.
The Bank of Japan kept rates near zero for most of the last decade in an effort to end a long economic stagnation, and only raised [...]
George Washington’s Blog
Tuesday, Dec 09, 2008
The Bank for International Settlements (BIS) is often called the “central banks’ central bank”, as it coordinates transactions between central banks.
BIS points out in a new report that the bank rescue packages have transferred significant risks onto government balance sheets, which is reflected in the corresponding widening of sovereign credit [...]
Watching investors fleeing into the perceived safety of US Treasuries is akin to watching people board the Titanic in the movie - you know that they are doomed. This is because the United States is totally bankrupt - more than bankrupt in fact, since its debts are physically impossible to repay in any circumstances and [...]
We have to have more government workers hired to run the printing presses and to pay taxes in order to cover all the Neo~fascist bailouts;
U.S. government so far has loaned, invested or committed …
* $200 billion to nationalize the world’s two largest mortgage companies, Fannie Mae and Freddie Mac;
* $25 billion for the Big Three [...]
Friday, Nov 28, 2008
Texas Congressman Ron Paul has warned that international forces are planning the creation of a global central bank that will see a new fiat monetary system come to dominate the world economy.
The 2008 presidential candidate also warned that Barack Obama’s administration will only represent a change in faces and not in policies.
Speaking [...]
Citigroup says gold could rise above $2,000 next year as world unravels
Gold is poised for a dramatic surge and could blast through $2,000 an ounce by the end of next year as central banks flood the world’s monetary system with liquidity, according to an internal client note from the US bank Citigroup.
By Ambrose Evans-Pritchard
Last Updated: [...]
He danced around questions like a stripper at a bachelor party. He is a liar and wont admit to ANY mistakes.
By the time he took over Citi, they were a dead duck. But all one has to do is look back at his previous career (Morgan Stanley) and his role in mortgage backed securities and [...]
What a crock of bank-purchased BS.
Financials leech off the economy so they can collect bogus interest on counterfeit paper. They don’t contribute a single real product, they are parasites on productivity. An economy functions better without complex financials, that has been proven and re-proven countless times over the course of history. The Industrial Revolution [...]
Previous related posts: U.S. Ships 800 Billion “AMEROS” to China; prepares to De-Monetize U.S. Dollar and I HAVE OBTAINED AN ACTUAL “AMERO” FROM THE SHIPMENT SENT TO CHINA
Physical gold is being bought at hair raising speed.
Investors big and small are buying and many are desperate for they can not get their orders filled.
gold [...]
1929-1933 saw deflation because the central banks had to contract the money supply because they lied to the common man about how much “gold” backed currency that they lent out in the roaring 1920s. THis was only a multiple of 9x or more(beginnings of fractional reserve banking) since gold, in theory, backed up the money. [...]
We are now starting to see the contagion effects of the current liquidity crisis feed through to the real economy. We are about to go back to the bad old days. Whether the zombie banks are kept on life support by the central banks and taxpayers of the world is highly relevant to whether the [...]
WASHINGTON (AP) — The Federal Reserve said Wednesday that it will supply new lines of credit to the central banks of Brazil, Mexico, South Korea and Singapore to help those countries deal with the global credit crisis.
The Fed will provide up to $30 billion to each of the central banks. It is the latest in [...]
Because a rate cut right now, without coordination of it with ECB and other central banks, will be absolutely disasterous for US economy, due do the following reasons:
1- It will Send the US Dollar plunging even more vs Euro
2- As a result send the price of Oil and all commodities back up just when they [...]
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