Socio-Economics History Blog

Socio-Economics & History Commentary

Jim Willie: How China Is Taking Over America! (Part 2)

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November 11, 2014 Posted by | Economics, Social Trends, GeoPolitics | , , , , , , , , , , , , , , , , , , , , , , , , , | Leave a comment

UBS To Settle Gold/Silver Manipulation Charges!

Beware_The_banksters_Cartoon

  • UBS To Settle Gold/Silver Manipulation Charges! 
    by http://investmentresearchdynamics.com/ 
    Intrinsic currencies like gold and silver, for example, are acceptable without a 3rd party guarantee.  - Alan Greenspan, (LINK)
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    The Financial Times is reporting that UBS has agreed to settle charges against it by the UK’s Financial Conduct Authority that it engaged in the manipulation of the gold and silver markets.  While it may come as a surprise to chart wranglers like Trader Dan or interminably hot air windbags like Dennis Gartman and Martin Armstrong that gold and silver are manipulated by the big bullion banks, UBS has de facto admitted to such illegal activity.
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    This comes on the heels of a £1.5 billion pound ($2.4 billion) settlement agreement (to be announced Wednesday) that includes UBS, Barclays, Citigroup, HSBC, JP Morgan and RBS connected to charges of foreign exchange market rigging.
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    If these banks are rigging forex trading, it means that they are de facto rigging gold and silver.  Why?  Just ask Alan Greenspan:    “Gold is a currency. It is still, by all evidence, a premier currency. No fiat currency, including the dollar, can match it…Gold has a monetary characteristic which is intrinsic.”
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    I’m wondering if part of the $40 move higher in gold on Friday was driven by insiders – i.e. the banks – who knew that the UBS gold/silver manipulation settlement deal was going to be announced by the FT today (Sunday, November 9).

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November 10, 2014 Posted by | Economics | , , , , , , | Leave a comment

Gerald Celente: World is in a Currency War and Heading Towards WORLD WAR 3!

  • Published on Nov 7, 2014
    GERALD CELENTE – World is in a CURRENCY WAR and Heading Towards WORLD WAR 3

    Gerald Celente, publisher of the Trends Journal tells us where he thinks the next military threat for the US will be and what’s in store for the economic relationship between the US and Russia If there’s one thing that should be clear, it’s that nothing the government or their banking partners have done to solve the economic crisis has been for your benefit. They’ve enriched themselves, yet again, on the backs of the American people.
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    All the while, they’ve told us that everything is getting better. But anyone who’s paying attention know that nothing of the sort has happened. We continue to shed jobs. Hundreds of thousands of people are still losing their homes. Personal debt is rapidly approaching 2007 levels. The U.S. government has borrowed more money than what we can ever hope to repay. What will it take to change the course of the future? As America, the world superpower, gears up to elect its commander-in-chief, each candidate touts his leadership experience; Obama the Osama Slayer vs. Romney the Corporate Commando. Each lists his credentials, saying in effect, “this is why I should lead and why you should follow your leader.”
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    There is no “We the People” until “I the Person” is willing to stand up and speak for himself or herself. Paul Craig Roberts – former Assistant Secretary of the Treasury under President Reagan, former editor of the Wall Street Journal, listed by Who’s Who in America as one of the 1,000 most influential political thinkers in the world, PhD economist – wrote an article yesterday about the build up of hostilities between the U.S. and Russia titled, simply: “War Is Coming”. In the article, Roberts notes: As reported by Tyler Durden of Zero Hedge, the Russian response to the extra-legal ruling of a corrupt court in the Netherlands, which had no jurisdiction over the case on which it ruled, awarding $50 billion dollars from the Russian government to shareholders of Yukos, a corrupt entity that was looting Russia and evading taxes, is telling. Asked what Russia would do about the ruling, an advisor to President Putin replied, “There is a war coming in Europe.” Do you really think this ruling matters?”
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    In January, well-known economist Nouriel Roubini tweeted from the gathering of the rich and powerful at the World Economic Forum in Davos: Former Goldman Sachs technical analyst Charles Nenner – who has made some big accurate calls, and counts major hedge funds, banks, brokerage houses, and high net worth individuals as clients – saysthere will be “a major war”, which will drive the Dow to 5,000. Former Federal Reserve chairman Alan Greenspan (and many world leaders) admitted that the Iraq war was really about oil, and former Treasury Secretary Paul O’Neill says that Bush planned the Iraq war before 9/11. And see this and this. Libya, Syria, Iran and Russia are all oil-producing countries as well … We’re in the middle of a global currency war – i.e. a situation where nations all compete to devalue their currencies the most in order to boost exports. Brazilian president Rousseff said in 2010: Given that China, Russia, India, Brazil and South Africa have just joined together to create a $100 billion bank based in China, and that more and more trades are being settled in Yuan or Rubles – instead of dollars – the currency war is hotting up. What happened to [Libya's] Mr. Gaddafi, many speculate the real reason he was ousted was that he was planning an all-African currency for conducting trade. The same thing happened to him that happened to Saddam because the US doesn’t want any solid competing currency out there vs the dollar. You know Gaddafi was talking about a gold dinar.

World_War_3 Russia US NATO

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November 10, 2014 Posted by | Economics, Social Trends, GeoPolitics | , , , , , , , , , , , , , , , , , , , , , | 1 Comment

Leaders of BRICS Countries to Hold Negotiations Before G20 Summit!

BRICS-Logo

  • Considering the fact that the Russian Ruble is under constant attack by the west, it should come as no surprise should the BRICS decides counter-measures. As many as 100+ nations have agreed to the return to the gold standard. The announcement was supposed to have been made in Feb 2014. But the United States refused to comply and instead started a few wars: Ukraine, ISIS(ISIL) terrorism in Iraq and Syria … ie “F*** You!”
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  • The message from Russia and China (BRICS alliance) is very clear: an all out assault of the western global hegemony. Total replacement: BRICS Development Bank to replace IMF / World Bank, alternative Russo-SWIFT to do away with Anglo-SWIFT, BRICS Central Bank (Gold Backed), Gold Trade Settlement system instead of USD, Ruble-Yuan oil settlement instead of USD … etc. The question is whether they will up their schedule from Feb 19, 2015 Chinese New Year period to much earlier, for an announcement on Gold revaluation and Gold Trade Settlement system. Ie. Bye bye USD! Bye bye Gold/silver price suppression.
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  • Leaders of BRICS countries to hold negotiations before G20 summit! 
    by http://rbth.co.uk/ 
    The leaders of the BRICS countries will meet before the G20 summit in Brisbane, Australia, Russian presidential aide Yury Ushakov said. 
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    “The main task is to reach agreements on the main issues on the agenda of the G20 summit. Specifically, the meeting will address the implementation of the decision to launch the new BRICS Development Bank and the pool of contingent currency reserves with a total capital of $200 billion, which was mentioned in the previous summit,” Ushakov told a briefing on Friday.
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    Ushakov said special attention will be given at the BRICS meeting to issues relating to the reform of international financial institutions, specifically, redistribution of IMF quotas.
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    “The BRICS countries favor prompt implementation of the 2010 agreements as the most just and meeting the modern economic reality,” he said. Ushakov said the meeting will also address international issues, specifically, the intensification of the interaction between the BRICS countries in the settlement of regional conflicts, issues relating to the non-proliferation of weapons of mass destruction, counterterrorism, drug threat, and international information security.
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    Ushakov reiterated that Russia plans to give attention to trade expansion and increasing technological and industrial cooperation.
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    The BRICS countries create almost 30% of the world’s GDP ($15.4 trillion) and make up the world’s largest market because some 3 billion people (40% of the planet’s population) live in these countries.
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    Ushakov said the gold and currency reserves of the BRICS countries are approaching $5 trillion and the amount of mutual trade within BRICS had almost doubled in the past five years, from $170 billion to $300 billion. Ushakov reiterated that the upcoming BRICS meeting is especially important to Russia because Russia is the next chair of the organization. “The next BRICS summit will be held in Ufa on July 8-9, 2015, simultaneously with the SCO summit,” he said.

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November 10, 2014 Posted by | Economics, GeoPolitics | , , , , , , , , , | Leave a comment

Physical Gold Shortage Worst In Over A Decade: GOFO Most Negative Since 2001 !

Remember the Golden Rule: "He who has the gold rules!"

Remember the Golden Rule: “He who has the gold rules!”

  • Physical Gold Shortage Worst In Over A Decade: GOFO Most Negative Since 2001 ! 
    by Tyler Durden, http://www.zerohedge.com 
    The last time there was an systemic physical gold shortage was in July 2013. It is then that, for the first time in 5 years, the 1-month Gold forward offered rate, or GOFO, went negative. We said
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    Today, something happened that has not happened since the Lehman collapse: the 1 Month Gold Forward Offered (GOFO) rate turned negative, from 0.015% to -0.065%, for the first time in nearly 5 years, or technically since just after the Lehman bankruptcy precipitated AIG bailout in November 2011. And if one looks at the 3 Month GOFO, which also turned shockingly negative overnight from 0.05% to -0.03%, one has to go back all the way to the 1999 Washington Agreement on gold, to find the last time that particular GOFO rate was negative.
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    Fast forward to today, when as noted over the past week there has been a massive shortage of precious metals – most notably silver which as of this moment is indefinitely unavailable at the US Mint - as a result of the tumble in the paper price, and following 8 days of sliding and negative 1 month GOFO rates, today the physical metal shortage surged, as can be seen by not only the first negative 6 month GOFO rate since last summer’s much publicized gold shortage when China was gobbling up every piece of shiny yellow rock available for sale, but a 1 month GOFO of -0.1850%: the most negative it has been since 2001!
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    read more!

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November 7, 2014 Posted by | Economics | , , , , , | Leave a comment

Bo Polny: Major Turnaround For Gold and Silver About To Happen!

Click on image to download MP3 interview!

Click on image to download MP3 interview!

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November 6, 2014 Posted by | Economics | , , , , , , | Leave a comment

Fabian Calvo: World Reserve Currency in Line for Next Crash!

  • Fabian Calvo: World Reserve Currency in Line for Next Crash! 
    by Greg Hunter’s USAWatchdog.com 
    Real estate expert Fabian Calvo says forget about the Fed’s recent announcement that it was ending its QE, or money printing program. Calvo contends, “Anyone who thinks the Fed is not somehow fueling the money printing through currency swaps taking place in Japan or in Europe right now is just fooling themselves.  This economy has not gotten any better. The only thing that’s changed is the unprecedented scale of the money printing that is being injected into the economy.”  
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    So, why is the U.S. dollar gaining in value against other currencies?  Calvo says, “I actually think the dollar rising is another huge manipulation forward, and I think it is a last ditch effort by the Fed to keep the dollar as the world reserve currency.  So, that way, you will have a lot of people with this race towards the bottom which will continue to devalue their currency in order to make their exports cheaper.  Ultimately, this ends really, really badly.  I don’t really believe this so-called bull run in the dollar is anything but fabricated, just like the rise in stocks or the rise in real estate prices.  I think Japan unveiled, just last week, historic quantitative easing. . . . It’s unprecedented in the history of modern economics.  Japan will go down as well as all of these other currencies that are being printed into nonexistence.”

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    As far as recent bad news coming from the U.S. housing market and recession fears in Europe, Calvo says, “I think this is part of the conditioning and setting the precedent for the Fed to continue to inject liquidity around the world, particularly in the West.” Calvo, whose company buys and sells $100 million in real estate annually, goes on to predict, “I think when the next crash happens, it’s not just going to be the stock market or the bond market that’s going to be on the line. It’s literally going to be the world reserve currency on the line.  That’s what I talk about in my book ‘The Global Economic Reset.’ The West and the western banking systems are doing everything they can, and they know that event is coming.  They are doing everything they can to control it before it becomes completely unraveled.”
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    read more!

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November 6, 2014 Posted by | Economics, GeoPolitics, Social Trends | , , , , , , , , , , , , , , , | 1 Comment

German Precious Metal Dealers Report Huge Run on Silver Coins!

Silver Eagle coin. Going ... going ... gone soon!

Silver Eagle coin. Going … going … gone soon!

  • German Precious Metal Dealers Report Huge Run on Silver Coins! 
    by  
    Precious metal dealers in Germany have literally been run down after the latest slump in gold and silver. Wholesalers already expect deferred deliveries.
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    The latest plunge in gold and silver late last week has led to a sharp increase in demand by German precious metals investors, which also continued on Saturday. There was a particularly strong demand for silver coins. “On Thursday and Friday people had to draw numbers in order for us to control the run”, reports Andreas Heubach, CEO of Heubach Edelmetalle in Nuremberg. “On both days we sold each around 40,000 silver ounces – incredible”, he said. “Demand is back – and hysteria as well”, he evaluated.

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    Tremendous Run
    “The run is tremendous, even today on a Saturday”, Christian Brenner, CEO of Philoro Edelmetalle GmbH in Leipzig and Berlin reports. Despite the high counter trade level in September, demand has increased by 100 percent, online-trade even soared by 300 percent.
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    “Run is not the right expression“, says René Lehmann of Münzland in Dresden. “We’ve seen up to 80 percent of our regular customers taking advantage of the slide to build up more positions. On those two days, on Thursday and Friday, we made approximately 50 percent of our monthly revenue”, he reports to Goldreporter. Maple Leaf (1 oz.), 1 kg Lunar and ½ oz. Great White Shark were particularly in demand, since Münzland had a special offer on them. In gold especially 1 oz. Maple Leaf and 1 oz. bars have been purchased. The ratio of buyers to sellers has generally been at 50 to 1.
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    Dominik Lochmann, CEO of ESG Edelmetall Service GmbH & Co. KG, confirms the surge in silver coins that are subject to differential taxation. Even higher taxed 1 kg silver bullion did very well.
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    read more!

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November 5, 2014 Posted by | Economics | , , | 1 Comment

Jim Willie: Systemic Breakdown & Economic Collapse GUARANTEED (Part 1)!

  • Jim Willie: Systemic Breakdown & Economic Collapse GUARANTEED! 
    by http://www.silverdoctors.com/
    In this stunning and MUST WATCH interview with Finance & Liberty’s Elijah Johnson, Hat Trick Letter Editor Jim Willie releases a shocking and emphatic prediction as he GUARANTEES a systemic breakdown and complete economic collapse!
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    Willie addresses the latest take-down, whether the Fed has really ended QE, and whether China is now controlling the strings at the Federal Reserve. Jim Willie GUARANTEES complete economic collapse!

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November 5, 2014 Posted by | Economics | , , , , , , , , , , , , , , , , , , , , , | Leave a comment

Warren Pollock: Pompeii Type of Event Coming!

  • Damage Control Going to Wear Off in 2015-Warren Pollock! 
    by Greg Hunter’s USAWatchdog.com
    Multifaceted analyst Warren Pollock says the “damage control is going to wear off in 2015.” Pollock explains, “If you look at the role of the President of the United States, his primary role is to be the public relations officer for the status quo.  At the turn of the Bush Administration, as that administration failed, there was a lack of damage control.  We are going to see the same thing as Obama leaves office timed to the end of 2015.  There is a tremendous amount of effort to protect vested interest that goes on within the White House, and they will do anything to stop things from coming unglued.  They are doing this on a day-to-day basis, and the moment they stop, or there is a pause or contention, or lack of consensus, then it is most likely, at that point, that things will become unhinged and unglued.  I can assure you, the next President of the United States, whether Republican or Democrat, will be known as a great failure.  He or she will be held responsible for the total decline of the United States.”

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    Pollock says people around the world refuse to see reality and are in denial. Pollock explains, “It will start to become unhinged in 2015 at the next election cycle. What we are going to see is a tremendous amount of rationalization.  If you look at things the way they are today, everyone denies there was a financial crisis.  Everyone denies that Fukushima existed.  Everyone denies the U.S. government is insolvent.  Everyone denies there are global imbalances between the U.S. and China.  All of these elements of denial are really rationalization.  The facts have changed around everyone’s outlook, which have remained static and the same.  That’s why things have this appearance of normalcy.  I think things will become more surreal around the end of 2015.”
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    read more!

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November 4, 2014 Posted by | Economics, GeoPolitics, Social Trends | , , , , , , , , , , , , , , , | Leave a comment

Putin to the Western Elites: World War III Is Inevitable!

Russian TU-95 Bear strategic bomber!

Russian TU-95 Bear strategic bomber!

  • Putin isn’t stupid. He knows the strength of the west lies in the global currency hegemony! The expression of this global hegemony is the USD. The west has continuously attacked and crashed the Russian Ruble. Ie. financial WW3. No war will be triggered by Putin until Russia/China alliance kill the USD! The longer the Russia/China, BRICS, alliance drag out the situation without war, the better it is for them. They will get stronger and watch the west disintegrate economically.
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  • Massive amounts of physical gold are flowing from west to east. It is a matter of when the BRICS alliance will announce a return to the gold standard and abandonment of the USD completely. A huge revaluation of the price of gold upwards by the Chinese is rumoured to happen around the Chinese New Year (19 Feb 2015, Dr. Jim Willie). A gold backed trade settlement system will be instituted ie. they will not accept USD in trade settlement any more. If United States want to import stuff, it will have to be with hard asset like gold, USD created out of thin air will not be accepted.
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  • Putin to the Western Elites: World War III Is Inevitable! 
    by , http://www.thecommonsenseshow.com/ 
    In his strongest speech, ever, directed at the United States, in front of the rest of key members of the Western world, Putin drew a line in the sand with regard to American imperialism.
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    The following are excerpts of Putin’s speech delivered at the Valdai conference in Sochi, just a few days ago. The speech was directed at Western elites.
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    “Russia will no longer play games with the United States and engage in back-room negotiations… Russia is prepared for serious agreements, but only if these agreements are conducive to collective security… All systems of global collective security now lie in ruins. There are no longer any international security guarantees at all and the party responsible for the destruction of global collective security is The United States of America…
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    …The builders of the New World Order have failed by having built a sand castleRussia favors a conservative approach to introducing innovations into the social order, but is not opposed to investigating and discussing such innovations, to see if introducing any of them might be justified…
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    …Russia has no intention of building an empire of their own, but will not go fishing in the murky waters created by America’s ever-expanding “empire of chaos…
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    …Russia’s challenges lie in developing her already vast territory)…Russia will not attempt to reformat the world in her own image, but neither will she allow anyone to reformat her in their image. Russia will not close herself off from the world, but anyone who tries to close her off from the world will be sure to reap a whirlwind. Neither is Russia willing to act as a savior of the world, as she has in the past…
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    …Russia does not wish for the chaos to spread, does not want war, and has no intention of starting one. However, today Russia sees the outbreak of global war as almost inevitable, is prepared for it, and is continuing to prepare for it. Russia does not war, nor does she fear it…
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    …Russia does not intend to take an active role in thwarting those who are still attempting to construct their New World Order, However, Russia will oppose their efforts if they begin  to impinge on Russia’s key interests. Russia would prefer to stand by and watch them give themselves as many lumps as their poor heads can take. But those who manage to drag Russia into this process, through disregard for her interests, will be taught the true meaning of pain…
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    …Russia’s will rely not on the elites to set the tone for the future, and these decisions will result from the will of the people…”
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    Russia Is In War Mode

    The RAF has intercepted Russian military aircraft as they neared UK airspace for the second time  in the past week. This incident follows Norwegian interception of two Russian bombers last Wednesday.
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    The Baltic countries are also witnessing a dramatic increase in Russian military violations of NATO air space in which the Russians appear to be testing their ability to penetrate the NATO’s air defenses.
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    read more!
http://www.telegraph.co.uk/news/worldnews/europe/russia/11203034/RAF-jets-intercept-Russian-bomber.html

Click on image for article!

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November 4, 2014 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , , , , , , | 7 Comments

Ted Butler: The Silver Nightmare Will Be Over Soon?! The Argument for a Near-Term Monster Rally!

  • Ted Butler: The Silver Nightmare Will Be Over Soon?! 
    by Adam Taggart, http://www.peakprosperity.com/ 
    The argument for a near-term monster rally  
    Halloween couldn’t have been more terrifying for silver investors. The gray metal cracked under $16/oz on Friday, a price not seen for nearly half a decade. For years now, it has seemed like silver has been beaten down so badly its price couldn’t go lower. But then it has.
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    Why has silver seen such a gut-wrenching price decline? (now down 2/3 compared to its high in late 2011). And will it ever see brighter days again?
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    This weekend, Chris has a long discussion with silver expert Ted Butler on the real culprit behind the wild price slams that have plagued silver: unfairly concentrated positions within the derivatives market:
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    You have to sit back and try and drill down to the cause of what’s going on. Now, the actions by the Bank of Japan and the actions of our own Central Bank have basically been to inflate all investment assets such as bonds, stocks, real estate. And the ironic thing is that in the past whenever we’ve gone through this asset inflation mode ,gold and silver and a variety of commodities have always participated. It stands out this time that, contrary to the movement and all other assets, that gold and silver have been particularly weak.
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    The only explanation for why this is so is that we’ve developed, not just in gold and silver but in all the COMEX and NYMEX metals — copper, platinum, palladium, gold and silver, even items like crude oil and even into the grains — we’ve developed a mechanism that’s so distorted it’s like we’re allowing the inmates to run the asylum. In other words, if you’re looking for the specific cause for why gold and silver have been particularly weak over the last couple of days or any other time period, you can trace it directly to the derivatives market. Specifically the COMEX. There’s such a large volume and it’s not just trading volume, it’s positioning. The positioning is so extreme in these markets and at such a large scale that it actually becomes the tail that wags the dog.
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    We should remember that derivatives (which futures contracts on gold and silver traded on the COMEX are classified as) are supposed to be derived from the real supply/demand fundamentals of any commodity. And that’s supposed to kind of follow what developments there are in the real world of supply and demand. That’s been distorted. That’s not longer the case.
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    read more!

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November 3, 2014 Posted by | Economics | , , , , , , , , , | Leave a comment

No Ebola Quarantine, Greenspan Says Buy Gold, Obama Care Update!

  • No Ebola Quarantine, Greenspan says Buy Gold, Obama Care Update! 
    by Greg Hunter’s USAWatchdog.com 
    The Ebola circus continues, and the Obama Administration officials look like clowns.  Let’s just take a look at a few of the headlines.  “Health System Not Prepared for Ebola” is a headline from the AP, and that is in stark contrast to what we have been told.  “Small clusters could overwhelm the system” is what the article says.  So, this begs the question of why no quarantine?  Some governors in places like New Jersey, New York and Illinois think quarantine is the way to go.  It is scientific technique on how to contain infectious disease, but that is not what the Obama Administration thinks.  Some in the MSM think the same thing.  This opinion piece says the decision by these governors is “hasty” and “adds to the Ebola problem.”  Really?  Well, that is not what the Pentagon thinks because it is “isolating troops back from Africa for 21 days.”  Some of the talking points are downright bogus.   They say things like we should treat these returning health care workers like “conquering heroes.”  Who is going to think these folks are “heroes” if they come back and infect people?  Africa’s best chance of beating this is if America stays strong and uninfected.  If America is consumed by Ebola, or even the fear of Ebola, West Africa hasn’t got a chance.
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    The Federal Reserve supposedly ended its QE program this week.  That is where they printed money to buy bonds to hold interest rates down.  So, what’s going to hold interest rates down now?  Are they just going to put all this Federal debt out for bids and let the market set the interest rates?  Can the Federal government, home buyers, car buyers, credit card holders and the overall economy afford higher rates?  You’ve got to be kidding.  Gregory Mannarino of TradersChoice.net says the Fed can’t just say it wants low interest rates.  It has to do something to keep them low.  Mannarino thinks the Fed is now going to force the big banks that got all this QE to buy Treasury and other government debt.  Mannarino told me that he thinks the Fed is going to continue to print money to finance another form of QE.  He says the money printing has not ended and will never end.  The Fed is just going to call it something else.  The Fed also says the economy and employment have improved, and the third quarter had a 3.5% growth rate.  John Williams of ShadowStats.com says the 3.5% growth rate is “Happy election eve numbers” and says it was boosted by “guessed at trade numbers and defense spending.”  Williams says look for a downside revision.  If the economy was really that good, would we have nearly 93 million people not in the workforce?  There are 46 million people on food stamps, and half of Americans make less than $28,000 a year.  Would mortgage applications be hitting 19 year lows?  Would former Fed Head Alan Greenspan be warning about “turmoil” in the economy because of ending QE?  Oh, and “Maestro” Greenspan is also telling people to buy gold?  Let that sink in, Greenspan is telling people to buy gold!!
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    read more!

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November 1, 2014 Posted by | Economics, GeoPolitics, Medicine & Health | , , , , , , , , , , , , , , , , , , , | Leave a comment

Egon von Greyerz: Disorderly Reset Coming! Dollar Goes to Zero!

  • Egon von Greyerz: Disorderly Reset Coming! Dollar Goes to Zero! 
    by Greg Hunter’s USAWatchdog.com
    Wealth preservation expert Egon von Greyerz is not bullish on the U.S. dollar.  Greyerz explains, “More and more countries are trying to go away from the dollar, and I think the days of the dollar are counted.  I think the dollar is going to start falling rapidly in coming months and years.  Of course, it already has fallen dramatically in the last few decades, but that will now accelerate.  It will go down to its intrinsic value which is zero, which most currencies do over their lifetime.  Of course, we have the movements in Russia and China with alternative currencies for commodities like oil, etc.  There will be a very disorderly reset with currencies falling.  They can’t all fall at the same time, but they will fall dramatically, and gold will, of course, reflect that.  The stock markets are in a bubble, and they will also fall.  I think the secular bull market we have seen is finished.  Now, we are going to see a very long bear market.  Of course, the biggest bubble of them all, where governments do all they can to keep the bubble going, is the bond market.  We have more debt than ever and interest rates at zero.  That just doesn’t add up.”  Greyerz goes on to say, “You can’t have governments borrow more than ever and have interest rates at zero.  You can only do that temporarily because you have governments printing money and artificially holding interest rates down.  That will not last either.  So, the reset will be dramatic.  It won’t happen overnight, but there will be events that trigger short term pitfalls, but this is a long term thing.”
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    Greyerz also predicts, “There will be one event after another, and instead of all the good news we have seen . . . now, we will see just bad news coming out.  Sadly, we are just at the end of a major era.”
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    Greyerz is predicting the end of the U.S. dollar era, and you don’t need a total abandonment for the dollar to crash globally.  Greyerz says, “In any market, you don’t need big sellers to change the price dramatically.  It is always the marginal buying and selling that can make a dramatic difference. . . . If there are sellers and no buyers, that market will collapse.”
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    read more!

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October 30, 2014 Posted by | Economics | , , , , , , , , , , , , , , , , , , | Leave a comment

Alan Greenspan: QE Failed To Help The Economy, The Unwind Will Be Painful, “Buy Gold”!

FedRes_ATM_Dollars_being_printed

  • Alan Greenspan: QE Failed To Help The Economy, The Unwind Will Be Painful, “Buy Gold”! 
    by Tyler Durden, http://www.zerohedge.com
    It appears it is time for some Hillary-Clinton-esque backtracking and Liesman-esque translation of just what the former Federal Reserve Chief really meant. As The Wall Street Journal reports, the Fed chief from 1987 to 2006 says the Fed’s bond-buying program fell short of its goals, and had a lot more to add.
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    Mr. Greenspan’s comments to the Council on Foreign Relations came as Fed officials were meeting in Washington, D.C., and expected to announce within hours an end to the bond purchases.
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    He said the bond-buying program was ultimately a mixed bag. He said that the purchases of Treasury and mortgage-backed securities did help lift asset prices and lower borrowing costs. But it didn’t do much for the real economy.
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    “Effective demand is dead in the water” and the effort to boost it via bond buying “has not worked,” said Mr. Greenspan. Boosting asset prices, however, has been “a terrific success.”

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    read more!
http://www.foreignpolicyjournal.com/2014/05/14/the-fed-is-the-great-deceiver/

Click on image for article!

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October 30, 2014 Posted by | Economics | , , , , , , , , , , , | Leave a comment

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