Category Archives: Financial

Marc Faber: “I Am Sure Governments Will One Day Take Away 20-30% Of My Wealth”

Marc Faber confirms: “Until now, the bailouts in Europe and the U.S. were at the expense of the taxpayer. And from now onwards, in my view, the bailouts will also be at the expense of the asset holders, the well-to-do … Continue reading

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The Veil Slips Again

Today the ECB, through Her Dijsselbloem, indicate its intent to encumber Cypriot oil and gas reserves to pay back the “bailout” money Cyprus has had forced down its throat.  Essentially, the collapsing of Cypriot banks was used by the ECB … Continue reading

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A New Way to Measure Unemployment

I want to propose a new unemployment figure: U8. The government has six different unemployment figures (U1 through U6). I propose adding U8, which is the U6 plus the number of people on disability. The current U6 figure is  14.9% … Continue reading

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Market Update – The Damage So Far

It seems the realization that i) Cyprus mattered, ii) If Europe slumps then US will be infected (no matter how clean the asset-gatherers believe the shirt to be) is impacting markets globally once again. A slew of horrible data overnight … Continue reading

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Central banks souring on the dollar

The World Gold Council had some words of advice for central banks around the world: It may be time to diversify away from the U.S. dollar. While the dollar remains the world’s main reserve currency, the WGC said in a … Continue reading

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European Bank Bonds Plunge To 5-Month Lows

Close-to-close, headlines will be happy that things do not appear to be collapsing in Europe. The broadest equity indices only lost a fraction of a percent and bonds ended unchanged. But the action in the last hour or two (which … Continue reading

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Expect these eight steps from the government’s playbook

From Sovereign Man: Direct confiscation As Cyprus showed us, bankrupt governments are quite happy to plunder people’s bank accounts, especially if it’s a wealthy minority. Aside from bank levies, though, this also includes things like seizing retirement accounts (Argentina), increases … Continue reading

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March Consumer Confidence Plunges As New Home Sales, Richmond Fed Miss

Houston we may have a problem: with the DJIA trumpetedely hitting new all time highs day after day in March, one would expect that its traditional second derivative – US Consumer Confidence, would be at all time highs as well, … Continue reading

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‘Troika Go Home’: angry students protest Cyprus bailout

httpv://www.youtube.com/watch?v=mFeOxstRquM From YouTube: Answering a call put out on social networking site Facebook, thousands of young people in Cyprus took to the streets to protest against the bailout accepted the government. Marching through Nicosia, the banners clearly show what they … Continue reading

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Move Your Money

httpv://www.youtube.com/watch?v=Icqrx0OimSs If you will not get your money out of the banks, at least move it. David DeGerolamo

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CYPRUS BANKS TO REMAIN CLOSED THROUGH MARCH 27: CENTRAL BANK

We thought it useful to consider Cyprus in relation to the longest bank closures in history. Cyprus has now shutdown its banking system longer than Argentina, Ecuador, and Uruguay and as far as President Anastasiades comments that capital controls are temporary – … Continue reading

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If Cyprus Is Fixed, Why Are the Banks Still Closed?

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Ireland is Next…

httpv://www.youtube.com/watch?v=TLVp-592gA8 Ireland, after several years as a financially embattled nation, may be next to succumb to the “Wealth Levy” which has now been proposed in Cyprus, New Zealand, Spain, and Italy. As a government, Ireland has been struggling with paying … Continue reading

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Bailout Closing: Cyprus & lenders agree on taxing deposits

httpv://www.youtube.com/watch?v=4wtSmcaBnf0#t=1s From YouTube: Cyprus and international lenders have managed to strike a long-awaited agreement on taxing bank deposits of over 100-thousand euros held with the country’s biggest bank. Customers who keep large sums of money in other banks will also … Continue reading

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When The U.S. Paid Off The Entire National Debt

On Jan. 8, 1835, all the big political names in Washington gathered to celebrate what President Andrew Jackson had just accomplished. A senator rose to make the big announcement: “Gentlemen … the national debt … is PAID.” That was the … Continue reading

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