Source – internationalman.com Silent Depression and Current Economic Realities By Doug Casey International Man: Wall Street Silver, a financial analyst on Twitter, highlights that during the Great Depression, the average home cost 3x the average income. Today, it costs 8x as much. In the 1930s, the average car cost about 46% of a year’s earnings. Today, they…
Source – oftwominds.com Reinventing Democracy The whole point of democracy and free markets is to force competition on elites who are desperate to eliminate competition. (Added By SM) What’s the point of discussing reforms that aren’t even possible in the current status quo? That’s a good question, as any discussion of major systemic changes can be…
Source – dailyreckoning.com Rickards: The ‘Earthquake’ Starts Today Authored by James Rickards (Also Read: BRIC by BRIC @ https://dailyreckoning.com/bric-by-bric/) The BRICS Leaders’ Summit is scheduled to begin today, Aug. 22 in South Africa, which will run through the 24th. As I’ve been warning, this meeting is the most significant development in international finance in the last…
Source – goldswitzerland.com SM:…We can expected quite a few less chairs to occupy in this economic musical chairs ‘shell-game’ by early fall – we shall see… Von Greyerz: It’s All About Economic Survival – Got Gold? Authored by Egon von Greyerz The Everything Bubble is about to turn to the Everything Collapse! This is the…
Source – unz.com The One Chart That Explains Everything MIKE WHITNEY Look carefully at the chart above. What do you see? You see the development of a high-speed rail system that is unrivaled anywhere on earth. You see the actualization of plan to connect all parts of the country with modern-day infrastructure that reduces shipping costs,…
Source – charleshughsmith.blogspot.com The Two Causes Of The Coming Great Depression By Charles Hugh Smith But the status quo has much to unlearn, and it seems the only pathway to a new understanding is a Great Depression. There are two approaches to analyzing a situation: 1. Choose the desired outcome–generally the one that doesn’t require…
Source – goldmoney.com The Bell Tolls for Fiat By Alasdair Macleod The importance of Russia’s announcement that a new gold-backed trade currency is on the BRICS meeting agenda for August 22—24 in Johannesburg seems to have gone completely over everyone’s heads, with mainstream media not even reporting it. (Also Read: BRICS Nations To Announce Gold-Backed Currency…
Source – robertreich.org Busting the “Paid What You’re Worth” Myth You’ve probably heard that everyone is “paid what they’re worth.” Don’t buy it. According to this mythology, workers at the bottom are “unskilled” and don’t deserve more than what they currently earn. Minimum wage workers at McDonald’s are paid what they are worth in the…
Source – dailyreckoning.com The Biggest Monetary Shock In 52 Years Authored by James Rickards (Added By SM) I recently revealed that the so-called “BRICS+” countries will announce the creation of a new currency at its annual leaders’ summit conference on August 22–24. This will be the biggest upheaval in international finance since 1971. It’s taking…
Source – londonnews1.com Canada’s Legal Counterfeiting Ring Is a Product of Progressive Democracy Lee Friday In 1934, at the behest of Prime Minister R.B. Bennett and with the approval of Parliament, Canada’s central bank, the Bank of Canada (BOC), was founded. It began operations in 1935. Its job is “to promote the economic and financial welfare of…
Source – theorganicprepper.com Standard of Living vs. Quality of Life Fabian Ommar By the author of Street Survivalism: A Practical Training Guide To Life In The City and The Ultimate Survival Gear Handbook If we search the roots of conflicts, social collapses, and even many non-natural disasters, we’ll find an economic distortion or bust. Economic, monetary, and financial downturns…
Source – thehill.com 100+ nations to simultaneously pull out of the dollar system? Feat. Andrew Schectman In this week’s Live from the Vault, Andrew Maguire sits down with the founder of Miles Franklin Investments, Andrew Schectman, to address the exacerbating levels of global financial anxiety, as people flock to gold, seeking alternatives to traditional banking.…
Source – goldmoney.com It’s All Hotting Up Authored by Alasdair Macleod Increasing numbers of national governments are abandoning the US sphere of influence. Opportunities from trade with Asia compare favourably with rising currency and banking risks in a dollar-centric world. Against an imploding banking system in long-established financial markets, China’s renminbi looks like a safe haven. Thanks to…
Source – oftwominds.com De-Dollarization and Trade: Be Careful What You Wish For (Above Image Added By SM) Be careful what you wish for, because currencies are not abstractions we ponder, they are commodities that serve real-world functions that place demands on the currency as a mechanism of trade, trust, value and risk. The current telling…
Source – oftwominds.com Why Interest Rates Are Not Going Back to Zero By Charles Hugh Smith In a system maintained by ever-greater extremes, confidence erodes very quickly once the next extreme fails to move the needle. (Above Image Added By SM) Many observers expect interest rates to fall back to zero as inflation dissipates and…
Source – davidstockmanscontracorner.com SM:…”There’s a tear in my beer….” Dear Reader, The ballgame is changing. And fast! Both Wall Street and Washington went off the deep-end during the 2020-2021 pandemic period—spending, borrowing, printing and speculating like never before in history. But the nation’s financial bacchanalia is now over. The time of reckoning has commenced. That…
Source – theorganicprepper.com While Everyone’s Distracted, the Dollar Is Dying By Daisy Luther (Above Image Added By SM0 The circus surrounding the arrest of former President Donald Trump may have been a perfectly timed distraction. Not only are our banks still in a state of collapse despite a brief government-funded reprieve. Not only is the advent CBDCs looming over us. The world…
Source – unz.com Playing a Game of “Fool’s Mate” on the Grand Eurasian Chessboard By Ron Unz For at least a generation or more, America’s international policies have increasingly been governed by our Ministry of Propaganda, and the bill may finally be starting to come due. Last Wednesday the Wall Street Journal reported that Saudi Arabia was joining China’s…
Source – oftwominds.com The Everything Bubble and Global Bankruptcy The resulting erosion of collateral will collapse the global credit bubble, a repricing/reset that will bankrupt the global economy and financial system. Scrape away the complexity and every economic crisis and crash boils down to the precarious asymmetry between collateral and the debt secured by that collateral collapsing. It’s really that simple. In…
Source – economicprism.com Is the Bank Crisis Already Over? by MN Gordon Taking the path of least resistance eventually leads to disastrous places. Like the Alexandria Hotel in Los Angeles, circa 1990s, these are places that are best to be avoided. Still, some people, after consistently choosing the easier and softer way, ended up there, going…
Source – paulcraigroberts.org Why the Dollar-based International System Is Breaking Up By Paul Craig Roberts (Also Read: China And Brazil Strike Deal To Ditch The US Dollar @ https://www.zerohedge.com/markets/china-and-brazil-strike-deal-ditch-us-dollar) (Above Image Added By SM) The Federal Reserve’s higher interest rates after 12 years of zero interest rates are devaluing the asset side of banks’ balance sheets. This…
Source – wallstreetonparade.com As Senate Banking Committee Convenes Hearing on Exploding Banks, an FDIC Chart Shows the Banking Crisis Is Far from Over By Pam Martens and Russ Martens Senator Sherrod Brown (D-OH), the Chair of the Senate Banking Committee, will convene a hearing this morning at 10 a.m. to take testimony from federal bank regulators…
Source – consortiumnews.com G7 Vs BRICS – Off To The Races Authored by Scott Ritter An economist digging below the surface of an IMF report has found something that should shock the Western bloc out of any false confidence in its unsurpassed global economic clout… G7 leaders meeting on June 28, 2022, at Schloss Elmau…
Source – scheerpost.com Ellen Brown: Banking Crisis 3.0: Time to Change the Rules of the Game By Ellen Brown By Ellen Brown / Original to ScheerPost On CNN March 14, Roger Altman, a former deputy Treasury secretary in the Clinton administration, said that American banks were on the verge of being nationalized: What the authorities did over…
Source – unz.com Economic Death Spiral: Fed Trap: Financial Collapse or Hyper Inflation? ROBERT STARK With this banking crisis, which has serious Lehman vibes, it is a good time to revisit my article, Is This The End of The End of History, from March of last year. The article delt with the theme of collapse vs…
Source – quoththeraven.substack.com This Financial Crisis Will Be Like None Other In History It looks as though Credit Suisse is going to be sold off for pennies on the dollar, temporarily postponing a financial trainwreck, at least for a couple more hours or days, until the next shoe inevitably drops. The Fed doesn’t seem keen…
Source – internationalman.com A Mile-High House of Cards… 3 Ways to Protect Yourself Before Your Bank Collapses by Nick Giambruno FacebookTwitterMore Subscribe to International Man It’s hard to think of a topic where following conventional wisdom is more dangerous than banking. The general public and most financial experts accept as absolute truth that putting your money in a…
Source – sovereignman.com If Silicon Valley Bank is Insolvent, So is Everyone Else by Simon Black On Sunday afternoon, September 14, 2008, hundreds of employees of the financial giant Lehman Brothers walked into the bank’s headquarters at 745 Seventh Avenue in New York City to clear out their offices and desks. Lehman was hours away…
Source – unz.com Why the Bank Crisis Is Not Over – By Michael Hudson The crashes of Silvergate, Silicon Valley Bank, Signature Bank and its related bank insolvencies are much more serious than the 2008-09 crash. The problem at that time was crooked banks making bad mortgage loans. Debtors were unable to pay and were…
Source – michael-hudson.com Why the Banking System is Breaking Up By Michael Hudson Support my work via Patreon The collapses of Silvergate and Silicon Valley Bank are like icebergs calving off from the Antarctic glacier. The financial analogy to the global warming causing this collapse is the rising temperature of interest rates, which spiked last Thursday and…
Source – scheerpost.com SM:….Two words – Bear Sterns……. The Looming Quadrillion Dollar Derivatives Tsunami Ellen Brown By Ellen Brown / Original to ScheerPost On Friday, March 10, Silicon Valley Bank (SVB) collapsed and was taken over by federal regulators. SVB was the 16th largest bank in the country and its bankruptcy was the second largest in U.S. history, following…
Source – economicprism.com What Comes After the Great Liquidation by MN Gordon (Above Image Added By SM) Expectations were great. When 2023 started, there was a general sense that the stock and bond markets had turned over a new leaf. A repeat of 2022 was out of the question. The primary assumption was that inflation would…
Source – mises.org Real Estate Markets Are Addicted To Easy Money By Ryan McMaKen (Also Read: Real-Estate Bust 2.0: The Commercial Real-Estate Tsunami Has Arrived @ https://thegreatrecession.info/blog/) On Friday, residential real estate brokerage firm Redfin released new data on home prices, showing that prices fell 0.6 percent in February, year over year. According to Redfin’s numbers, this…
RIELPOLITIK 