Archive for the ‘Financial crisis’ Category
Posted by smeddum on September 11, 2009
September 09, 2009
JS KIM
The Double Dip Recession, or the “W” shaped recovery that a minority of economists, such as Joseph Stiglitz, is now stating as a strong possible outcome of this current rally, should not be discussed in the realm of economics but rather in the more apropos realm of financial fraud. The fact that the upleg of the “W” shaped recovery that is occurring now will inevitably crumble in spectacular fashion will not be a result of any free market principle, but rather the direct consequence of a fraudulent scheme executed by an elite global financial oligarchy, otherwise known as Central Banks. If the mission of this current manufactured leg-up in Western stock markets was to fool the world into believing that global economies are recovering, then clearly, up until this point, the mission has been a resounding success. For those unfamiliar with the term “blowback”, it’s a CIA term that was first used in March 1954 to describe the unintended consequences of US government international activities kept secret from the American people. Read the rest of this entry »
Posted in Financial crisis | Tagged: Banking Fraud, phony recovery | Leave a Comment »
Posted by smeddum on September 11, 2009
European Commission sees galloping UK debt crisis
Britain’s public debt will explode to 180pc of GDP within a decade unless future governments take drastic measures to restore fiscal probity, according to a confidential study by the European Commission.
By Ambrose Evans-Pritchard
10 Sep 2009
Telegraph
The Treasury expects UK’s debt to peak at around 80pc, less than half the EU prediction
The projection is more than twice the level forecast by the UK Treasury, which expects the debt to peak at around 80pc before gradually falling as growth revives and tax revenues come back to life. Read the rest of this entry »
Posted in Financial crisis, UK economy | Tagged: UK debt crisis, UK economy | Leave a Comment »
Posted by smeddum on September 10, 2009
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Thursday, 10 September 2009
Source: GoldSeek.com
Before the Hat Trick Letter was launched, a little splash was made when a Jackass Nobody wrote “25 Reasons Why Gold Will Rise” in November 2002. It was so many years ago that the piece no longer appears in archives. The motive for the article was simple. Just too much pure nonsense and genuine rubbish had appeared in the financial press about why gold was rising. ‘THEY’ claimed the gold price was rising from MidEast tensions, from new global tensions due to a False Flag attack on New York City in broad daylight, and from other factors clearly irrelevant to gold. It was not disinformation so much as stark ignorance and stupidity, perhaps even compromised marketing from the fiat bowels on Wall Street. The crack analysts in financial circles overlooked the negative real interest rates offered by central banks, as the miniscule official rates were overwhelmed by price inflation, thus rendering gold a free pass profitable investment. Stupid inane mindless drivel continues to pour out today as to why gold has reached the $1000 level. In simple English, THEY HAVE ABSOLUTELY NO IDEA WHY GOLD IS RISING. The faceless ‘THEY’ had no idea in 2002 and ‘THEY’ have no idea now. The main fallback factor ‘THEY’ turn to is a hedge against price inflation, the basic kindergarten concept. The Wall Street machine still uses mental crayons, as nothing has changed. They are too busy building leveraged contraptions and forging collusions. Those who are aware in the Mainstream are dead silent as to why gold rises, since they realize their world is to vanish. Read the rest of this entry » |
Posted in Financial crisis | Tagged: End of empire, gold, Jim Willie | Leave a Comment »
Posted by smeddum on September 10, 2009
Currencies
The Dollar Collapses
Carl Gutierrez,
09.08.09
Forbes
The U.S. dollar reached its lowest point against the euro this year due to a myriad of forces including rising global stocks and commodities prices, low interest rates, and investors diversifying out of Treasury debt and into other assets including U.S. stocks with the Dow Jones industrial average approaching 9500 in late afternoon trading. Read the rest of this entry »
Posted in Financial crisis | Tagged: dollar collapse | Leave a Comment »
Posted by smeddum on September 10, 2009
by Llewellyn H. Rockwell, Jr.
9/9/2009
Lewrockwell.com
by Llewellyn H. Rockwell, Jr.
Recently by Llewellyn H. Rockwell, Jr.: The Hoppe Effect
There is something affected, something not believable, something agitpropish, about all the cheers for the glorious economic recovery we are experiencing. Some of its biggest boosters don’t even quite believe it. Read the rest of this entry »
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Posted by smeddum on September 10, 2009
Mandelson is also warning of a double dip
Adrian Hamilton: Sorry, but the recession is not over
The factors behind the recovery up until now have been largely temporary in nature
Thursday, 10 September 2009
Independent
The recession is over. We have been told so by the National Institute of Economic and Social Research, the Recruitment and Employment Confederation and a succession of bank economists. Only it doesn’t feel that way to most people in the country, suffering from cost cutting in their jobs and uncertainty in their outlook. Read the rest of this entry »
Posted in Financial crisis | Tagged: phony recovery | Leave a Comment »
Posted by smeddum on September 7, 2009
China alarmed by US money printing
Telegraph
The US Federal Reserve’s policy of printing money to buy Treasury debt threatens to set off a serious decline of the dollar and compel China to redesign its foreign reserve policy, according to a top member of the Communist hierarchy.
By Ambrose Evans-Pritchard, in Cernobbio, Italy
06 Sep 2009
Working for the Yankee dollar: Beijing is said to be dismayed by the Fed’s recourse to ‘credit easing’ Photo: Reuters Cheng Siwei, former vice-chairman of the Standing Committee and now head of China’s green energy drive, said Beijing was dismayed by the Fed’s recourse to “credit easing”. Read the rest of this entry »
Posted in Financial crisis | Tagged: China, currency crisis, US debt, US debt crisis | Leave a Comment »
Posted by seumasach on September 7, 2009
Guardian
6th September, 2009
Banks are significantly overvaluing assets to be included in the government’s insurance scheme, which could leave the taxpayer footing the bill for any shortfall, experts have warned.
Read the rest of this entry »
Posted in Financial crisis, UK economy | Tagged: financial collapse, financial fraud | Leave a Comment »
Posted by smeddum on September 4, 2009
UK will grow sicker until it swallows the bitter pill of economic reality
Millions of ordinary Britons are worried sick about debt and falling incomes. Unemployment and house repossessions are soaring – glib statistics which mask a welter of human misery. Countless UK firms are struggling with cash flow as they try to balance the books. And we’re all sick of the grim economic news.
Telegraph
By Liam Halligan
29 Aug 2009
No wonder the UK’s “imminent recovery” is getting a lot of coverage. Last week, I returned from holidays abroad to find our media banging the “recession is over” drum. In truth, though, the UK remains in economic dire straits.
I write this not to “talk down the economy” – although I’ll be accused of doing so. I’m countering the prevailing consensus because of the evidence. I’m also concerned that by insisting everything is rosy, a vast panoply of political and financial vested interests can claim their counterproductive “rescue measures” are working, while avoiding the tough regulatory changes we need to prevent another “sub-prime”. Read the rest of this entry »
Posted in Financial crisis | Tagged: phony recovery, quantitative easing | Leave a Comment »
Posted by smeddum on September 3, 2009
Posted in Financial crisis | Tagged: Jim Willie | Leave a Comment »
In These New Times 