Search Results for: debt

Bankrupt Spain to spend €1bn on riot gear

Spain riots

The Spanish government intends to spend nearly 1 billion euro on police riot gear, despite the country’s debt rising by 58 billion euro over the last year. Authorities worry about widespread protests they believe will grip the nation in the autumn. Students chant during a demonstration on the second day …

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US government sues Standard & Poor’s after AAA downgrade

Standard Poor's

The US government is blaming the financial crisis that catapulted the US into recession in 2007 on debt raters Standard & Poor’s. But by singling out S&P, the DoJ raises suspicions that it might be retaliating for a downgraded US credit rating. In a Monday evening filing in federal court, …

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AIG Chief sees retirement age as high as 80 after crisis

American International Group Inc. (AIG) Chief Executive Officer Robert Benmosche said Europe’s debt crisis shows governments worldwide must accept that people will have to work more years as life expectancies increase. “Retirement ages will have to move to 70, 80 years old,” Benmosche, who turned 68 last week, said during a weekend interview at his …

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How your bank account could disappear

empty bank account

On the same morning we hear that ¼ of Wall Street executives think that fraud is a necessary part of “doing business” in the financial sector, we hear of a second “MF Global”. The U.S.’s so-called regulators are now reporting that somewhere around $220 million in customer funds is “missing” at a financial institution known as …

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US military protecting international banking cartel

Bank of America

“My assessment is that 90% of the value of the US dollar comes from the US military.” — Former Assistant Housing Secretary Catherine Austin Fitts For decades, America has used its armed strength to enforce the use of the dollar as the world’s reserve currency, effectively making the US military …

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2 Simple Ways to Make Money Work for You

Those who say that money is not important can’t be telling the entire story. It’s true that there are studies that say that relationships are far more valuable. However, you have to realize that our needs are ordered in a hierarchy. Before we become aware of the need to be …

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Federal Reserve tests negative interest rates as Japan goes to -0.1%

Bank Of Japan BOJ negative interest rates

From Filip Karinja, for Birch Gold Group In a shocking move last Friday, the Bank of Japan (BOJ) slashed its interest rate to -0.1%. However, the surprise doesn’t end there. Bank of Japan Governor Haruhiko Kuroda said there will be “no limit” to the monetary easing, and that rates would be cut even …

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Gold backed ruble and yuan to trigger global de-dollarization

Gold in hand

A gold-backed ruble and gold-backed yuan could start a ‘snowball exit’ from dollar F. William Engdahl notes, adding that it will diminish America’s ability to use the reserve dollar role to finance Washington’s perpetual overseas wars. The irony of the situation is that the central banks of China, Russia, Brazil and other …

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China’s stock market crashes another 8%

China stock market crash Shanghai

China‘s benchmark Shanghai Composite index is down more than 8 percent in Monday trading. The market is now down 37 percent from its June peak. Over the last month, the Chinese government has taken extreme measures to reverse the stock market‘s decline. The decline in Shanghai was part of a …

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Germany joins China and Russia’s flight to gold

Gold bars

From Filip Karinja, for Birch Gold Group Germans are now rushing into gold. In search of a safe haven from a possible Greek debt default and the ultra-loose monetary policy of the European Central Bank (ECB) that makes even Ben Bernanke look fiscally conservative, Germans have significantly picked up their purchasing since …

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Greece to trigger collapse of fascist eurozone

Greece Eurozone Yanis Varoufakis

From Filip Karinja, for Birch Gold Group Greece is rapidly running out of money. In a last ditch effort to remain afloat, the nation recently passed a law requiring all cash reserves in public sector entities to be transferred to its central bank, the Bank of Greece. This is just the latest round …

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10 things about Gaddafi they don’t want you to know

Muammar Gaddafi Libya

Ruling the country for for 41 years until his demise in October 2011, Muammar Gaddafi did some truly amazing things for his country and repeatedly tried to unite and empower the whole of Africa. So despite what you’ve heard on the radio, seen in the media or on the TV …

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Australian bank class action ‘could be worth billions’

commonwealth bank sign

Promoters of a class action for “victims” of Commonwealth Bank’s $2.1 billion takeover of Bankwest in 2008 say it could be the largest litigation of its type, worth billions of dollars. Anti-bank advocate Geoff Shannon, who founded the Unhappy Banking website, said yesterday he had secured the backing of an …

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BRICS dumping euro amid simmering EU banking crisis

euro-set-back-a-generation__-by-eu-banking-crisis.si

People withdraw money from Bank of Cyprus ATM’s while employees gather outside the bank’s headquarters in Athens. Brussels has been forced to eat a generous slice of humble pie: A massive sell-off of the euro is underway in the wake of a persistent financial crisis, as holdings in the European …

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Our problem is the Federal Reserve – David Stockman

Former OMB boss David Stockman told CNBC that Romney’s vision of capitalism is not possible if the Federal Reserve continues to run the economy. Stockman said the only candidate that had it right was Ron Paul. “He was the only one that had it right about the Fed,” Stockman said. …

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How long will the dollar remain the world’s reserve currency?

We frequently hear the financial press refer to the U.S. dollar as the “world’s reserve currency,” implying that our dollar will always retain its value in an ever shifting world economy.  But this is a dangerous and mistaken assumption. Since August 15, 1971, when President Nixon closed the gold window …

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Why we must oppose Obamney for President in 2012

There is a dangerous person running for President in 2012, and his name is Baritt Obamney. I normally try not to attack specific candidates for political office, but Baritt Obamney is so offensive to American sensibilities that I had to share this warning with my fellow Americans. In 2012, we must vote …

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