Trillion Dollar Fraud: SEC could seek global MBS settlement Barnhardt: On Money, Banking, and Men Bank Rate Bomb Will Destroy the Smallest and Weakest. (Thanks to M.E.W. for the link.) Items from The Economatrix: Fannie And Freddie Drop The Ball Stockton, California Could Become Biggest City to Go Bankrupt European Funding Sows Seeds of Next Crisis Soaring Oil Prices Will Dwarf The Greek Drama
From G.G.: Inflation: Not as low as you think Also from G.G.: U.S. closes 12th bank of 2012 One more from G.G.: David Stockman; You’d Be A Fool To Hold Anything But Cash Now Items from The Economatrix: Fed Officials Flag Soft Economy But Mum On Easing Wall Street Slips But S&P Up For Third Straight Week How Gold Rises Over $5,000/oz. But Is Only Worth $500 Fractal Gold Projection Of $3,500 Into Mid-Year Remains Intact
The Lumberman recommended this piece by veteran market analyst Bob Chapman: Financial Vehicles of Mass Destruction Over at Fierce Finance: Criminal charges not likely in MF Global scandal. Corzine, Abelow, Roseman, Stockman, et al have escaped criminal indictments, but I suspect that they will be in court fighting civil lawsuits for the next four or five years. <Sarcasm on:> Perhaps Federal prosecutors can indict the MF Global’s janitor. After all, he was seen carrying out those trash bags full of paper shreddings. <Sarcasm off> What Caused Silver’s Take-Down? Derivatives: Exchange Traded Derivatives Trading Volumes Increase 11% in 2011 Items …
Society’s Five Stages of Economic Collapse (Originally posted at the SHTFPlan blog. Greece Is D-O-N-E, $70 Silver In 90 Days. [JWR’s Comment: But we should expect a brief dip in metals, if there is a banking crisis caused by the Greek “credit event” (read: default). In a credit crisis, many assets–even precious metals–will be liquidated to cover margin calls. Look at that as a short term buying opportunity.] Those pesky derivatives, again: Greek Default Payouts May Bring Some Costly Surprises Items from The Economatrix: Massive Resignations Have Started 2.0 Gerald Celente Speaks Of Civil Unrest S&P Downgrades Greece To Selective …
The latest spike: St. Louis Fed Adjusted Monetary Base (BASE). With massive monetization still underway, the key question is :at what point will come the transition from deflation to mass inflation? I suspect fairly soon… ‘Plan for an economic 9/11’: Analysts warn Americans to buy guns and gold, predicting market crash and street riots within a year Home prices fell in December in most US cities. Survey: Prices fell in 18 of 20 US cities in final months of 2011, prices back to 2002. (Thanks to C.D.V. for the link.) R.C. sent this: S&P declares Greek ‘selective default’ after bailout …
James K. was the first of several readers to send this piece in the usually Pollyannaish McNewspaper: Three doomsaying experts who foresee economic devastation ahead G.G. suggested this: Extreme couponers push some retailers to tweak the rules. Reader C.D.V. sent these four article links: Credit Card Debt Nears Toxic Levels George Osborne: UK has run out of money More bad news: U.S. water bills to triple. (Yet another good reason to move out to the country and build where you can use spring or PV-pumped well water.) Cue the dark, foreboding Beethoven music: Iran Moves Further to End Petrodollar, Announces …
Japan posts record trade deficit while real estate values go deep into the 1980s. US has decade long collapse in real estate values in spite of record low mortgage rates. The path of two lost decades in US real estate values is looking very similar to Japan. Ben in Nevada sent this: The price of cooking the books (Describes inflation statistics fraud in Argentina) In tough economy, people turning in rare, unique items in for cash G.G. flagged this: A new recession seems inevitable Items from The Economatrix: False Recovery 2.0: It’s Beginning to Look a Lot Like 2011 Jim …
Diana sent this little history lesson: When the $1 Note Was Silver-Backed Cable TV show ignites modern-day Alaska Gold Rush. Thanks to R.B.S. for the link. Loyal content contributor R.B.S. sent this: In tough economy, people turning in rare, unique items in for cash Items from The Economatrix: Pawn Stars: Five Household Items With Hidden Value Iran Threatens To Extend Oil Embargo Analysts Warn Oil Could Pass $200 on Iran Tensions 8 Reasons Why the Greek Debt Deal May Not Stop a Chaotic Greek Debt Default
When a SHTF moment happens, preparedness is everything. But it is more than just having a bugout bag and a meeting place for your family. It means being ready, economically, intellectually, and physically. I’m going to talk about three specific goals, why they are so important, and the techniques you can use to get yourself in the best position possible. Don’t wait to progress from one to the other – instead, look at each of the three goals and pick an idea from each to focus on, then continue to add and build as you go. Goal #1 – Economic …
Veteran content contributor K.A.F. sent this: Gasoline Prices are Not Rising, the Dollar is Falling. Here is a brief quote: “”Right now, the threat posed by rising gasoline prices is not just to family budgets. An even greater danger is that the government will use escalating oil prices as an excuse to do something stupid.” G.G. flagged this: Chart of the Week: Nearly Half of All Americans Don’t Pay Income Taxes The Real Hunt Brothers Silver Story Part 1 Projected PIIGS Pillage: 3233.5 Tons of Gold to be Confiscated by Insolvent European Banks Items from The Economatrix: Gasoline Gas Spike …
Chart: ‘America’s Per Capita Government Debt Worse Than Greece‘. (Thanks to B.B. for the link.) The compression of generations – 25 million adults live at home with parents because they’re unemployed or underemployed. Reader R.B.S. sent this: Idaho Rep. Hart pushes gold coins as ‘legal tender’ $6 Gas This Summer — U.S. Economy Falls Off Cliff Items from The Economatrix: Iran Stopped Selling Crude to UK and France Oil Price Hits 8-Month High Gallup Finds Unemployment Climbing to 9% in February US Dollar Could Weaken Amid Euro Talks
A derivatives article worth reading, by way of Fierce Finance: Exclusive: SEC widens probe of exchange-traded funds. Currency Debasement Should Take Gold Prices Over $6,000/oz and Silver Above $400/oz Spain barter economy wins followers in grip of crisis. (Thanks to Tim R. for the link.) Items from The Economatrix: 18 Statistics that Prove the Economy Has Not Improved Under the Current Administration Colorado Looking At Gold, Silver Currency Turning The Screw On Greece Oil Above $104 After EU Gives Greece Bailout Deal
Diana sent this: Silver Price Could Double by Year End. G.G. suggested this New York Times article: Citing Losses, Postal Service Seeks Higher Stamp Prices Also from G.G.: Jobless disability claims soar to record $200 Billion as of January Chuck recommend a piece that was posted over at Zero Hedge last year: Art Cashin On The Most Important History Lesson Of The Last Century Items from The Economatrix: Eric Sprott: Silver Will Be A Currency Again NY U.S. Bankruptcy Court Rules MERS’s Business Model Is Illegal. Here is a quote: “United States Bankruptcy Judge Robert Grossman has ruled that MERS’s …
Several SurvivalBlog readers sent this: Euro zone finance ministers agreed a 130-billion-euro ($172 billion) rescue for Greece on Tuesday to avert an imminent chaotic default after forcing Athens to commit to unpopular cuts and private bondholders to take bigger losses. G.G. flagged this: Congrats, US Government: You’re Scaring Web Businesses Into Moving Out Of The US. (SurvivalBlog’s recent server migration to Sweden is just one small example.) Over at Whiskey & Gunpowder: Gather ye nickels while ye may… Steve in Georgia sent this: Iranians desperate as dark economic clouds gather Items from The Economatrix: Editorial: A Sand-Castle Recovery Preparing For …
Michael W. sent: Alan Simpson: Financial markets will turn on U.S. – Freeland File (This is Part 4 of a longer interview–all worth watching.) Does the Fed Print Money? Of Course! Jim Bianco Calls It “Fraud, Counterfeiting” Items from The Economatrix: Oil Set For Biggest 2012 Weekly Gain Credit Suisse The Sequel: “Probability Of The Largest Disorderly Default Loss In History On March 20 Has Increased Gold Demand Hits New Records As Europeans Stockpile Harvey Organ: MF Global Customers will not receive their money