The truth is out: money is just an IOU, and the banks are rolling in it

Back in the 1930s, Henry Ford is supposed to have remarked that it was a good thing that most Americans didn’t know how banking really works, because if they did, “there’d be a revolution before tomorrow morning”. Last week, something remarkable happened. The Bank of England let the cat out of the bag. In a […]

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The Global Economy’s Ticking Debt Bomb is About to Explode

As the dust settles in the iron ore and copper markets (both metals enjoyed a rise overnight) let’s take a step back and assess the damage. Both metals are heavily involved in China’s credit bubble. That is, traders, speculators and whoever else wanted in on the action would effectively ‘monetise’ their copper/iron ore holdings and then […]

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Power Mad Obama Offers Two Choices: Unconditional Surrender Or Default

“Barack Obama is warning that if he does not get everything that he wants that he will force the U.S. government into a devastating debt default which will cripple the entire global economy.  In essence, Obama has become so power mad that he is actually willing to take the entire planet hostage in order to […]

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Why the global economy may be doomed to lower growth—maybe forever

“We’re more than halfway through the second-quarter corporate earnings season. And while the results for US companies show corporate growth, it’s been slower than normal—even the last few years’ normal. For the last four years, the “surprise percentage” of the S&P 500—the percentage by which all companies beat analyst expectations this quarter—has been 7.0% at […]

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