Frank R. Suess on the Devaluation of the Swiss Franc, America's Expanding Currency Controls and the Future of the Euro

Sunday, September 11, 2011 – with Anthony Wile

Frank Suess The editors of The Daily Bell are pleased to present an exclusive interview with Frank R. Suess (left).
Introduction: Frank R. Suess, CEO & Chairman, BFI Consulting, started his career as a management consultant with Andersen Consulting in 1989. Before taking the lead at BFI Consulting in 1998, he held a senior management position with Price Waterhouse working as a strategic and operational management consultant to a number of international corporations. Mr. Suess is Swiss by background. However, he obtained part of his education in the United States. He has an MBA with Honors from the Haas School of Business, UC Berkeley, California. And he holds a Bachelor´s Degree in Finance, magna cum laude, from Saint Mary´s College in Moraga, California.
A brief synopsis:
Daily Bell: What about US equities? Warren Buffett seems to think they are cheap now. What do you say?
Frank Suess: I say wait! They will be a LOT cheaper still.
Daily Bell: The US dollar's purchasing power has been steadily declining against gold, something we have long been predicting. Is the US dollar in its final days of being the world's reserve currency?
Frank Suess: Gold is telling us a story, at least for those willing to listen. It is loudly and clearly announcing the demise of fiat currencies, with the dollar in the lead. I doubt that the dollar in its current makeup will exist much longer. Similar to the euro, there are a lot of people who want to keep the dollar alive and will support it. Yet, again, I would not count it out too quickly.
Daily Bell: How about silver? Is physical silver a sensible thing for people to own as well at this time?
Read More

 

 

German Economy Minister: "Greek Default Can't Be Ruled Out" And "We Need A Bankruptcy Procedure For Countries"

Greece may not file for bankruptcy this weekend... But its time is coming - it is a 100% certainty. And throwing just that little more fuel into the fire is Germany's Economy Minister Philipp Roesler who in an op-ed posted in Die Welt, is once again planting the seeds for the inevitable day when that perpetual transgressor Greece (which just announced yet more tax hikes, and as a result can now shut down its economy as the tsunami of 24 hour strike will be unprecedented) is finally kicked out of the union. The question then, as now, will be: what next?

Alasdair Macleod: Central banks and the gold price

Gold Should Be Worth 6,000 Or 10,000 USD According To Some Statistics

Admin at Marc Faber Blog - 1 hour ago

According to some statistics the gold price today should be worth between $6,000 per ounce and $10,000 per ounce. - *in Yahoo Finance* *Related: SPDR Gold Trust ETF (GLD), Newmont Mining (NEM), Barrick Gold (ABX), Goldcorp (GG)* *Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.*

Goldman Calls For QE In Europe: "How Far Can The ECB Go In Using Its Balance Sheet. The Short Answer Is: A Lot Further"

Even as the eyes of the world are currently frozen in a spot in time from ten years ago, and Wikileaks is making doubly sure of this by releasing the entire record of Metrocall pager (remember those?) intercepts starting at 9:55 am on 9/11/01, the world itself continues onward, and especially those who determine its global policy of "Prevention of Harm to The Status Quo^TM" are busier than ever this weekend. Chief among these is and always has been the one financial firm which has infiltrated "sovereign" decision-making more than anyone in history: Goldman Sachs, whose alumnus, incidentally, is about to replace Jean Claude Trichet at the helm of the world's largest and most undercapitalized central bank (yes, a central bank can be undercapitalized - read on). Which is why the following note just released by Goldman's Dirk Schumacher is of particular attention. Mere hours after Goldman economist Sven Jari Stehn said that FOMC "easing at the September meeting is very likely—around 75% according to our model", Goldman is now taking on European monetary policy, and specifically the question of further quantitative easing, across the pond, where printing money has always been a far more touchy subject than in the US, courtesy of the German experience with hyperinflation. As a result, the key line in the Schumacher note is the following: "How Far Can The ECB Go In Using Its Balance Sheet.  The Short Answer Is: A Lot Further." To be sure, this is not surprising: after all Zero Hedge first predicted that following the latest market trouncing on Friday, in the aftermath of the ECB's admission of failure on Thursday (who can forget Ze Price Stabeeleetee), see "ECBCTRL+P: The Next Steps In The European Implosion", but we are nothing but a simple blog, which predicts what will happen but certainly does not set policy for a corrupt and failed regime. That's Goldman's job. And what is stunning is the brazenness with which it does it now. To sum up: to Goldman both the Fed and the ECB have to engage asap in yet another episode of bonus-preserving currency debasement, middle class be damned. And, we have very little doubt, they will.

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IMF Chief Lagarde Softens Stance on European Banks

Christine Lagarde has softened her stance on the amount of capital needed by European banks, as finance ministers and central bankers from the leading advanced economies sought to calm markets at the weekend. The FT reports.

More on the Mega ReFi.

Posted by : Bruce Krasting

Post date: 09/11/2011 - 11:16

Something is brewing on this story. I can smell it.





9/11 tragedy pager intercepts. 
http://911.wikileaks.org/