Search Results for: dump debt

World economy is so damaged it needs permanent money printing

USD money printing dollar

Combined tightening by the United States and China has done its worst. Global liquidity is evaporating. What looked liked a gentle tap on the brakes by the two monetary superpowers has proved too much for a fragile world economy, still locked in “secular stagnation”. The latest investor survey by Bank …

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UK Student Loans Company Accused Of Spying On Applicants

UK students applying for a loan via the Student Loans Company (SLC) will have their personal Facebook page scrutinized to determine whether they qualify for funding. This comes after it was revealed that during the summer 150 applicants were spied on after applying for full maintenance loans due to being estranged from …

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The “world’s largest prop trading desk” just went bust

JP Morgan Chase

A month ago we warned that JPM’s CIO office is nothing short of the world’s largest prop trading desk. Not only were we right, but what just transpired is just shy of our worst possible prediction. At the end of the day, the real question is why did JPM put in so much …

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Former IMF head and bond king both recommend gold over stocks and bonds

Bill Gross Pimco bond king

From Filip Karinja, for Birch Gold Group Kenneth Rogoff, former chief economist for the International Monetary Fund (IMF), Kenneth Rogoff, recently penned a piece in which he recommended that emerging markets diversify their foreign exchange holdings away from the bonds of developed countries and into gold. One of Rogoff’s main reasons for the …

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5 top economic advisers forecast world war

crystal ball prediction

Kyle Bass, Larry Edelson, Charles Nenner, Jim Rogers and Marc Faber predict widespread war Kyle Bass writes: Trillions of dollars of debts will be restructured and millions of financially prudent savers will lose large percentages of their real purchasing power at exactly the wrong time in their lives. Again, the world …

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Russia starts dumping US treasuries, China follows suit

China Russia president shots

Back in December, Socgen spread a rumor that Russia has begun selling its gold. Subsequent IMF data showed that not only was this not correct, Russia in fact added to its gold holdings. But there was one thing it was selling: some $22 billion in US Treasuries, a record 20% of its total holdings, bringing …

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Where has all the money gone? – Robert Kiyosaki

Robert Kiyosaki

Why American Wealth is on the Decline? When I was growing up, America was considered the poster child for wealth and power. It had a strong and independent middle class, a thriving business and manufacturing sectors, and a solid commitment to free enterprise. When I was growing up, we didn’t …

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Maduro planning to swap Venezuela’s gold for dollars

Nicolas Maduro Venezuela gold dollars

It was almost exactly two years ago when a cash-strapped Venezuela quietly conducted its first, little-noticed gold-for-cash swap with Citigroup, as part of which Nicolas Maduro converted part of his nation’s gold reserves into at least $1 billion in cash courtesy of the US bank. As Reuters reported then, the …

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US food stamp usage rises to new record high

While the 0.4% perfectly unmanipulated and totally coincidental swing in the unemployment rate in an Obama favorable direction one month before the election came at a prime time moment for the market, one hour ahead of the open, setting the market mood for the rest of the day (which despite all best …

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5 trends that show China is about to redefine the gold market

China gold market

Apple spent about five years developing the iPhone, which has changed the smartphone market forever. Until the release, however, nobody could imagine what impact the iPhone would have on the market. And most consumers didn’t know about it at all. The same thing is happening with China and gold right …

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Greece to tax cash withdrawals

Greece cash bank run ATM

Greece has revealed it will introduce a surcharge for all cashpoint withdrawals and financial transactions in a desperate attempt to prevent citizens withdrawing their money from the country’s beleaguered banks. Ministers hope the controversial move could raise as much as €180 million, which the Athens government hopes will help the country …

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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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