“Literally, Your ATM Won’t Work…”. – T.P. o o o OPEC Set To Play The Waiting Game o o o The crisis in housing: Not enough homes are being built and rents are outstripping wage gains. o o o Gold: Surviving the Last Few Months of the Bear Market
Is The Price Of Gold Really Headed Above $19,000? o o o IMF has betrayed its mission in Greece, captive to EMU creditors. – JBG o o o Why The Fed Can’t Raise Rates. – J.B. o o o Canadian Silver Maple Leaf Sales Hit New Record Q1 2015 o o o Items from Mr. Econocobas: Investors Start To Panic As A Global Bond Market Crash Begins – Whether the trend continues and gets out of control or for the time being things turn around, I am not sure, but this is something to follow.
Mr. Latimer, Lately it’s becoming quite clear that the global financial system has passed the point of no return and is essentially doomed. My question now is, when the system begins its meltdown, those who will be able to get their money out before it’s all lost will no doubt be putting that money into hard assets as fast as they can. This of course will cause gold and silver to skyrocket. So here’s the question, should I sell my gold and silver at these fantastically high prices and receive a lot of paper money, which may become worthless due …
Debt and the Tinderbox o o o Cash-Strapped Kansas Moves To Limit ATM Withdrawals For Residents On Welfare. – D.S. o o o Items from Mr. Econocobas: Greece Unable To Make €300 Million IMF Payment, Requests “Bundling” Greek Banks On Verge Of Total Collapse: Bank Run Surges “Massively” As Depositors Yank €700 Million Today Alone Video- David Stockman Fox TV Interview: The Most Fantastic Bubble In Recorded History US Added 280,000 Jobs in May; But Jobless Rate Edged Up to 5.5%
HJL/JWR, This is a long time reader here with a question you likely get often. I realize the following is an overly simplistic question, given the enormous complexities of an individual’s financial and preparedness state, but I’m hoping for a relatively simplistic answer. Assume you were approached by a debt-free individual and handed anywhere from $5-15k. You are told it is “extra’ money and asked to invest it in something tangible. What would you be inclined to spend it on, assuming they had the basics (beans/bullets/bandaids) covered? Would it be precious metals, redundant equipment, or something else? Or perhaps you’d …
The Central Banks Are Losing Control Of The Financial Markets o o o Presenting The Next Great Source Of Middle Class Prosperity. – G.G. o o o Items from Mr. Econocobas: One Of The World’s Largest Silver Miners Slams The CFTC About Silver Market Manipulation The College Commencement Speech Every Graduate Needs To Hear – I work with a large group of young people at my church, and when the correct opportunity presents itself I try and encourage kids to make sure if they go to college to get a definable skill, otherwise start a business or learn or go …
HJL, Reading your bank policies note made me want to share an experience I had recently. I took my income tax return check to my local credit union for deposit only, no cash back. My wife had signed the check. They told me, “We can only deposit this check into an account you are both on.” I said, “There is no such an account.” Well, then she will need to come in with you. I said, “Okay, forget about it.” I took the check to my local PNC Bank (where it’s my sole account) who deposited it minus the hassle. …
I recently ran across an article from the Wall Street Journal; the piece itself was either a really bad attempt at a satire or it was mockingly smug. The article itself is not necessarily what you should read. I found that the comment section was truly amazing. I laughed, I smiled, and I felt that I wasn’t alone in the fight… My fellow American’s are alive and well, and there is a growing tide of revolution. I invite you to read the comments section. I don’t know how long the WSJ will keep it up. – T.C. o o o …
A “black swan” event occurred at a gathering of outlaw bikers on Sunday, May 17, 2015 in Waco, Texas. According to news stories, a fight broke out between several motorcycle gangs at the Twin Peaks restaurant. At least nine bikers are dead, another 17 were injured, and perhaps as many as 170 were detained or jailed. Outlaw Bikers: They are more likely to trade gunfire than bonds, but consider the similarities: Animosity: Rival biker gangs, the Bandidos and the Cossacks, met at the restaurant on Sunday to discuss issues such as territory, licensing fees, and drug revenues. Territory: Control of …
HJL, I can confirm Chase has changed their policies. I tried to help a friend by depositing 50 bucks cash in her account, and they said I needed to be a signer on the account. When I asked why, they said it was because of counterfeit bills being deposited into someone else’s account. I thought it was weird that a bank would be concerned with people bringing counterfeit money into a branch. I ended up having to drive the money down to my friend. As I’m writing this, I wonder can you do blind deposits via the drop box anymore? …
Allocation Lifted for American Silver Eagle Bullion Coins. – JBG o o o The Pre-Crash Warnings Begin o o o Items from Mr. Econocobas: Joseph Salerno: The War on Cash Americans Cut Back on Spending in April and Saved More Japan is Losing Control of the Yen
HJL, I recommend that readers strive to make deposits and withdrawals via an ATM. There is no opportunity to be interrogated by a teller. I’ve also found that a deposit of a larger value seems to clear faster (i.e. funds available in my account) if I perform the deposit via an ATM. – P.S. o o o HJL, I checked with a friend of mine that works in a small community bank in NJ. She was not aware of the most intrusive questions at all. Income and employer of both to make a deposit plus the other questions they do …
GERMAN GOLD BUYING: A Chart You Have To See o o o Margin Debt Breaks Out: Hits New Record 50% Higher Than Last Bubble Peak o o o Items from Mr. Econocobas: Peter Schiff- The Fed Considers a More Seasoned Approach – While Peter and others may not view the Fed in an insidious or conspiratorial way, I consider that to be a bit wishfully naïve. As I have heard JWR say in an interview, if you look at legislation it always seems to favor the bankers. Consumer Comfort in U.S. Slumps on Views of Buying Climate Financial Insanity Grips …
HJL, Report from Maryland: I went to the bank today to make a deposit (two medical insurance reimbursement checks). I was informed that I had to show my drivers license or passport to make a deposit. (Up until now ID had to be provided only for withdrawals.) Then, the teller told me I needed to provide personal information: name of employer, annual salary, citizenship of another country or dual citizenship, foreign bank account holdings, and because it is a joint account, I was told to provide the same for my spouse. I’ll let you and others imagine my response. I …
How Long Can OPEC Maintain Its Current Strategy? o o o Here’s a sad statistic from a Georgia think tank—Georgia Public Policy foundation: Cost of government: Federal regulation and intervention cost American consumers and businesses an estimated $1.88 trillion in 2014 in lost economic productivity and higher prices, according to “Ten Thousand Commandments,” by the Competitive Enterprise Institute. If U.S. federal regulation was a country, it would be the world’s 10th largest economy, ranking behind Russia and ahead of India. Given that our total national economy is somewhere in the $18 trillion range (GDP was listed as $16.7 trillion in …