Category: Economics & Investing

J.B.G. suggested this: Pictures From A Latvian Bank Run As MF Global Commingling Comes To Town Also from J.B.G.: Deutsche Bank: If Merkel Doesn’t Budge, ‘Our Investment Advice Is To Dig A Hole In The Ground And Hide’ Clive Maund: Gold To Profit From Economic Uncertainty From Wired: The Rise and Fall of Bitcoin Items from The Economatrix: Coming–Big Austerity Cuts 17 Quotes About The Coming Global Financial Collapse That Will Make Your Hair Stand Up Death of a Currency as Eurogeddon Approaches Update On US Banks And The Euro Area–Things Are Looking Grim

SurvivalBlog’s Editor At Large, Michael Z. Williamson sent this: Goldman Sachs predicts that U.S. will be world’s largest producer of oil in 2017 J. in Kabul sent this: Here You Go: It’s Over (by Karl Denninger.) Here is a brief quote: “Oh sure, there will be rallies and there will be selloffs. But there is no longer a market, there is no longer a thing to trade, and there is no longer a reason to believe that superior analysis will lead to profit or even safety.” Warning: Coinage debasement ahead! Steve Rothman says it costs more to make a penny …

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 …

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 …