Will the Next Financial Crisis Cost More than $14 Trillion?

“The psychological hangover from the 2007-2009 financial crisis seems to still be with us. Indeed, in the second edition of Conquer the Crash (p. 91), Robert Prechter noted: “The psychological aspect of deflation and depression cannot be overstated.” But the worst of the financial crisis was five years ago. Is it odd to even mention […]

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Banca d'Italia says gold reserves key to cenbank independence

“Keeping gold reserves is a key support to central banks’ independence, an official from Banca d’Italia told a bullion industry conference on Monday, dampening talk that it might sell some of its holdings. Speculation has emerged since the financial crisis hit the euro zone that Banca d’Italia might be pressured to leverage or even sell […]

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Growth of food stamps 75 times faster than job growth in America

“Some 40 years after the so-called “war on poverty” was begun by liberal Democrat President Lyndon B. Johnson, not only has poverty not been eliminated, but in terms of the percentage of the American population living in poverty, it has actually increased. Yet, utopian master planners in government and public policy insist that the “war” […]

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In historic step, Japan PM hikes tax; will cushion blow to economy

“Abe, riding a wave of popularity with economic policies that have begun to stir the world’s third-biggest economy out of years of lethargy, said the government will raise the national sales tax to 8 percent in April from 5 percent. But at the same time he softened the blow to the nascent recovery. As the […]

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Furloughed Government Workers Selling Gold, Silver?

“While gold prices remain above their pre-Un-Taper levels, they have been monkey-hammered once again this morning as the world awakes to a US Government shutdown for the first time in 17 years. Silver has retraced all its post-Un-Taper gains and is holding at those lows. It seems the department of precious metals selling has been […]

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U.S. government shutdown starts; Congress deadlock remains

“Federal agencies were directed to cut back services after lawmakers could not break a political stalemate that sparked new questions about the ability of a deeply divided Congress to perform its most basic functions. After House Republicans floated a late offer to break the logjam, Senate Majority Leader Harry Reid rejected the idea, saying Democrats […]

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Government Shutdown: The Next Step In The Collapse Of The Dollar?

“There is a considerable amount of debate in alternative economic circles as to whether a federal government shutdown would be a “good thing” or a “bad thing”. Frankly, even I am partially conflicted. I love to read mainstream news stories about how a shutdown in the capital would be “horrible” because Barack Obama might have […]

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Blackstone's Private Equity Head Warns: "We Are In The Middle Of An Epic Credit Bubble"

“Blackstone Group have arguably been at the center of inflating the new echo bubble in real estate by bidding (all cash) for property across the US. So it is somewhat ironic that just two months after we noted that “the smartest money is selling [6],” the head of Blackstone’s Private Equity Group had the following […]

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