Brother, can you spare $2.1 trillion? Eurozone needs a cash infusion “ten times bigger than TARP”. A hat tip to Yishai for the link. Fed Minutes: Bernanke Firmly in Control of FOMC, QE3 Coming A Silver Price Surge Coming? Sprott to Buy $1.5 Billion of Silver Bullion! Items from The Economatrix: Eurozone Unlikely To Survive Intact: Reuters Poll Rich Fleeing Euro, Says Irish Advisor MF Global Looted Customer Accounts
Reader B.B. sent us this: 25 Bitter And Painful Facts About The Coming Baby Boomer Retirement Crisis That Will Blow Your Mind I warned you about this more than a year ago: Popular Mom-and-pop water purification business shuttered by DEA’s meth-hunting “knotheads” KAK flagged this: License plate readers: A useful tool for police comes with privacy concerns Robert O. suggested this NGC web page: U.S. Silver Coin Melt Values Items from The Economatrix: Wall Street Falls For Sixth Day Eurozone Debt Bomb Reaches Land Down Under — Australian Bonds Head For Implosion? 45% in US Struggle to Make Ends Meet
Nouriel Roubini: Government Gridlock ‘Ensures’ 2012 Recession. (Thanks to M.E.W. fro the link.) Silver Price Forecast: Why Silver For A Monetary Collapse? Part 1 German Auction ‘Disaster’ Stirs Crisis Concern Items from The Economatrix: China Media Says US Sitting on Debt “Time Bomb” Economy Would Suffer If Tax Cut, Jobless Aid End Economy Means Scaled-back Thanksgiving For Many Oil Price Up On Mideast Strife, Europe Debt Plan
AmEx (American Expat) sent this: Risks of global recession mount. G.G. sent this: China vice premier sees chronic global recession. And speaking of China, consider this from Chris Martenson: The reasons for China’s imminent bust. Panel Set to Fail to Cut Deficit $1.2 Trillion. K.A.F. sent this: Airline Passengers Asked to Pay Extra $31,000 in Cash for Fuel Items from The Economatrix: Rapid Inflation To Become The Next Financial Crisis For America Prospect Of On-Line Sales Tax Grows Rising Age Gap In Economic Well-Being The Run On Europe Begins As Global Investors Head For The Hills Anger Mounts as …
Banks in Italy Find an Unusual Liquidity Lifeline G.G. sent us this: Right Now Officials in Brussels are Threatening to Cross a Line that Will Set Off Panic Also from G.G.: Central bank gold buying at 40-year high. Reader N.L. mentioned: Canada’s “new” $100 note–It’s made of plastic! Items from The Economatrix: The Crisis Eats Its Way Into The Core JPMorgan Joins Goldman Keeping Italy Derivatives Risk In Dark US Economy Growing At Fastest Pace Of The Year. (Isn’t it amazing what several trillion dollars created out of thin air can do in the short term?) Gross Says Europe is …
James: We need more business leaders like Ann Barnhardt! As reported over at Zero Hedge, Ann Barnhardt, President of Barnhardt Capital Management (a cattle and grain hedge brokerage) writes an excellent letter to her clients explaining why she is shutting down her business and exiting the markets altogether. She cites the recent bankruptcy of MF Global as the last straw, and predicts the imminent downfall of brokerage firms and commodities dealers in the derivatives market. This was mentioned on Rush Limbaugh’s show as her “Going Galt” speech, in reference to Ayn Rand’s character John Galt in Atlas Shrugged. See: “BCM …
Fed Now Largest Owner of U.S. Government Debt—Surpassing China. (Of $15 Trillion worth of debt, now 11% of that much, or $1.67 trillion.) Ann H. sent this: States that Will Suffer the Most in the Event of a EU Collapse. (Yet again, The American Redoubt is looking better and better! ) Why Kyle Bass Hoards Nickels. (Thanks to K.M. for the link.) Items from The Economatrix: Jumbo Mortgages May Be Next in Line to Default I Dumped My Bank The Assault On Financial Privacy Goes Parabolic European debt crisis drives gold rush
More Friday FDIC Follies: Regulators close small banks in Iowa, Louisiana for total of 90 bank failures in 2011 Debt Crisis Contagion: The Euro Zone’s Deadly Domino Effect It’s All About Gold Now How Can The America People Ever Trust Congress Again After Learning Of The Rampant Insider Trading That Has Been Going On? Items from The Economatrix: Real Estate: Why Home Prices Won’t Bottom Out Paul Drockton: MF Global and Derivatives Disinformation Student Loan Default Rates Surging Largely Due to For-Profit College Expansion Foreclosure Crisis Only Halfway Over
G.G. flagged this: The next financial crisis will be hellish, and it’s on its way More from the GEAB think tank: Global Systemic Crisis: 30,000 billion US dollars in ghost assets will disappear by early 2013 U.S. Banks Face Serious Risk From Europe: Fitch. (Thanks to AmEx for the link.) Kyle Bass Un-Edited: “Buying Gold Is Just Buying A Put Against The Idiocy Of The Political Cycle. It’s That Simple!” (At 20:50 into this fascinating interview, Bass answers the question: “Why guns and gold?” Items from The Economatrix: Is Gold Headed to $2,200? European Debt Crisis: You Haven’t Seen Anything …
G.G. flagged this: Europe’s €1 trillion (£854bn) rescue fund has been forced to buy its own debt as outside investors become increasingly concerned about the worsening eurozone sovereign debt crisis. Does this sound familiar? James A. suggested this by Rick Moran: ‘It’s going to happen again’ – Financial meltdown committee head Anthony M. sent us this: Post office near default? Losses mount to $5.1Billion Gold Versus U.S. Dollar as Safe Havens Diverge For those who have been waiting for an opportune dip in the precious metals market, this could be it. (As of Thursday, November 17, 2011.) Items from The …
Gerald Celente Hammered By Margin Call on Gold Futures With MF Global. Learn from this pundit’s mistake: Keep your precious in metals in tangible form, in your personal possession, well-hidden at home. (NOT in “bonded vault storage”, or in a brokerage account, or in any form of futures, or in an ETF, or even in a safe deposit box. Physical metal in your possession trumps all! This also illustrates that whenever there is a financial panic, a cascade of margin calls can be devastating. California property assessments down only 4 percent from peak but home values are down by 37 …
Reader F.J.R. suggested this from The Washington Times: Currency control efforts worry Argentines Guess How Many Americans Don’t Have Enough Saved To Cover A $1,000 Emergency? (Thanks to G.G. for the link.) B.G. spotted this: Fed Surveys: Economy in Worse Shape Than Feared, Recession Odds Spike to 50% Sign of the times: Complete, and Ongoing List of U.S. Retail Stores Closing in 2011 Calendar Year. (A hat tip to Kyle L. for the link.) Items from The Economatrix: US Companies Feeling Impact of European Crisis. JWR’s Comment: Just wait until there is the inevitable global cascade of margin calls. Europe’s …
Europe could be in worst hour since WW2: Merkel. (Thanks to K.A.F. for the link.) Over at American Thinker: US building firewall to protect against European debt contagion Dollar Teetering on the Abyss William Weytjens: Platinum: The “Cheapest” Precious Metal AmEx suggested this at The Daily Beast: Europe’s Disaster is Headed Our Way Items from The Economatrix: The Banks That Swallowed Europe, Western Civilization Based on Debt Eurozone Sketches Out Stability Plan as Fears Linger Over Greece and Italy Why the Dollar and Euro Collapse are Guaranteed Gerald Celente on Alex Jones Show
Captain Rawles, First, continued thanks for your blog; I regularly read a number of web sites and in my opinion Survivalblog.com is ground zero for preparedness and socio/political/economic intelligence information. Second, I thought I’d pass on some additional proof (as if it wasn’t already obvious) of significant inflation in food prices. We shop at the local Mormon (The Church of Jesus Christ of Latter-day Saints) cannery near Denver for wheat, pasta, nonfat dried milk and other bulk items. For those who didn’t know, the Mormon canneries are open to non-members (at least for now) and the prices for bulk …
SurvivalBlog’s G.G. sent this: Chinese ratings agency threatens US with new debt downgrade C.D.V. sent this: Eurozone collapse ‘will send continent into depression’ G.G. sent this: Too Big to Fail, Too Big to Save: The economic collapse of Italy will destroy the euro. (Nouriel Roubini) Items from The Economatrix: Rate on 30-year Mortgages Below Four Percent for Second Time Big Banks Plead With Customers No to Move Their Money Death of the Euro