Deutsche Bank Proclaims Western Currencies Worthless
Long live the debt ceiling – approaching the fiscal cliff by spending $1 trillion more than is being taken in. A breakdown of government spending and revenues.
Sentinel ruling may hurt MF Global clients. Here is a key quote: “Futures brokers are required to keep customers’ funds in dedicated accounts to protect them from being used for anything other than client business. However, Thursday’s ruling suggests that brokerages can use customer funds to pay off other creditors…” [JWR’s Comment: When stealing a client’s money effectively becomes legal for futures brokers (and possibly for bankers), then what assurances do investors have? This is yet another reason to invest in tangibles that you hold personally.]
G.G. sent this interview: Coming: The End of Fiat Money.
And speaking of fiat currencies, see this over at The American Spectator: Fight The Fiat. (Thanks to M.E.W. for the link.)
Items from The Economatrix:
The Rich are Hoarding Cash–And That’s Not Good
Oil to Get Boost on US Jobs Data: Survey
Bernanke Just Assured That The Student Loan Bubble Will Be The “Next Financial Stability Issue”
Import Prices in U.S. Unexpectedly Fell in July for Fourth Month