Category: Economics & Investing

Greece introduces cashpoint tax in desperate bid to raise revenue and stop run on banks as country teeters on brink of bankruptcy. – G.G. o o o It begins: US government issues $700,000 fine against a digital currency. – S.B. o o o Inspector General: IRS Allowed $5.6 Billion In Erroneous Education Tax Credits. PLC o o o What’s the Cash Value of Your Vegetable Garden?. – D.S. o o o Items from Mr. Econocobas: Blame the next global financial crisis on the U.S. dollar– More like blame it on central banks and central planning

The War On Cash: Transparently Totalitarian. – G.G. o o o End of cash?. – D.S. o o o Items from Mr. Econocobas: Video: Peter Schiff – FOMC Rate Hike Hints are a Bluff – The best part is when the commentators say, “The market has rallied on 3% or 4% before, so why couldn’t it now.” This just shows the fundamental lack of understanding of debt and interest payments. Venezuela opposition leader says Jan-April inflation 50 percent Greece Attacks Creditors as ECB Considers Next Liquidity Step (includes video)

Silver and NASDAQ – Long, Medium and Short Trends o o o U.S. Sanctions & Saber Rattling Doesn’t Stop The U.S. From Importing Russian Petroleum o o o Items from Mr. Econocobas: Video: Peter Schiff – Will the Fed Run Out of Excuses as the Weather Warms? The Forecast That Nailed Q1 GDP Isn’t So Rosy on Q2 More Americans Spending at Least Half Their Pay on Housing

1 in 4 US Renters Must Use Half Their Pay for Housing Costs. – H.L. o o o Bail-ins: 401k? – Gone; Pension? – Gone; Savings? – Gone o o o Even Small Businesses Are Jumping on the Robot Bandwagon. – D.S. o o o How student-loan debt is dragging down the economy

Major U.S. Retailers Are Closing More Than 6,000 Stores. – B.B. o o o Since the late 1980s, panicked governments have responded to slowdowns by herding their most vulnerable savers into excessively risky assets and then pulling away the football. And every time the same groups fall for it. o o o Is The US Worried About Oil Sector Jobs? It Should Be! o o o Consumers Near Collapse?. – Mr. Econocobas

Welcome to SurvivalBlog’s Precious Metals Month in Review, where we take a look at “the month that was” in precious metals. Each month, we cover the price action of gold, and examine the “what” and “why” behind those numbers. April was an up-and-down month for just about every asset class, and gold was no exception. After big boosts in the first part of the month to briefly touch the $1,220 mark, gold bounced in a tight range on either side of $1,200. After ending the week at a three-week low on the 24th, it came roaring back the next Monday …

U.S. GOLD EXPORTS IN 2014: Surged During Price Take-downs o o o Silver – Four Years Later o o o U.S.A. Caught in Enormous Policy Vise o o o US and UK are headed into a recession. If the economy slips just a little Fannie and Freddie will need a bailout.

Citibank Buys $1Billion in Gold From Venezuela. Maduro’s cash-strapped regime is so desperate for revenue that they’ve agreed to pawn 1.4 million ounces of gold, which amounts to $714 per ounce. – H.L. o o o The Fed has been horribly wrong about nearly everything they have forecast and most of the policy actions they have taken as both a central bank and a regulator for the past twenty years. o o o Items from Mr. Econocobas: U.S. GDP Gained A Sluggish 0.2% In First Quarter 2015 US Homeownership Rate Drops To 1983 Levels: Here’s Why America’s Student Debt Pain …

The War on Cash: Transparently Totalitarian. – J.J. o o o The Banksters War on Cash. – T.P. o o o Items from Mr. Econocobas: Japan Retail Sales Plunge 9.7% in March – What’s funny is in the video he talks about how Japan can deal with the excessive levels of debt, and what is not mentioned is what is most likely and what they are currently pursuing. Inflating away the debt. Video: Santelli Exchange: War on Paper Money? Biggest Inventory Build In History Prevents Total Collapse Of The US Economy – Definitely interesting; did not know the inventory build …

What Will Happen to You When the Dollar Collapses?. – H.L. o o o The war on cash; capital controls being imposed everywhere. When “the war on gold” begins, the world as we knew it will have already ended. o o o Items from Mr. Econocobas: Not Just For Tin Foil Hats—–Worries About Cashless Money And The Coming Correction Gold Surges: World’s ‘Biggest Pawnbroker’ Makes Deal China Is about to Come Clean about How Much Gold It Really Owns– Had posted a similar article to this earlier as well. U.S. Consumer Confidence Sinks in April

Rock-Paper-Silver o o o Preparing For The Next Market Collapse. – H.L. o o o Items from Mr. Econocobas: Fitch Downgrades Japan, Joins Moody’s in Warning on Fiscal Policy How this Debt-Addicted World Could Go the Way of the Mayans How a World Awash in Debt Devalues Your Money and Quality of Life Greeks Add Pressure on Tsipras to Compromise as Talks Resume

I note that under Chase’s new rules, cash cannot be used to make a payment on a loan account. So payments on debt have to come through a deposit account. The Internal Revenue Service regards all deposits to deposit accounts as income. You have to offer proof that a given deposit is a transfer of funds from income previously recorded or proceeds from a loan to have the deposit excluded from income. Undocumented, it is known as phantom income to small business owners, as they are forced to pay tax on deposits they cannot prove to be from non-income sources. …

Robert Kiyosaki: Interest rate madness and why cash is trash – what is going on?! o o o Social Credit Score: China rates its own citizens – including online behaviour. – H.L. o o o The “War On Cash” Migrates To Switzerland. – D.S. o o o How Much Does OPEC Really Earn?

Negative Interest Rates: It Is Like A Black Hole That Sucks In More And More Matter – Read: Capital – And Never Lets Go. This Financial Black Hole Story Will Also End With A Sudden Implosion, A Flash Of Light And A Big Bang, Just Like In Space… o o o What Will Happen to You When the Dollar Collapses?. – G.G o o o Deutsche Bank unit pleads guilty in U.S. Libor-rigging case. – G.G. o o o The Mystery Of China’s Gold Holdings Is Coming To An End

105 Trillion Reasons To Own Silver o o o Largest Bank In America Joins War On Cash. – B.B. o o o Twilight Zone Economies – Part 2 o o o Europe Entering Economic Neverland: Just When You Think Things Couldn’t Get Any Stranger, Signs Of Total Economic Insanity Continue To Trickle Out Of Europe.