It would appear that your bank is preparing to go on a bank holiday. No, not a vacation, but a holiday. After reading this article, you may find it prudent to check on the liquidity of your bank accounts and investment monies. Why? Because bank bail-ins appear to be commencing.
The Banks Are Not Our Friends
We are all concerned that one day we will attempt to gain access to our money in our bank accounts and and the banks will refuse to honor the request and keep the money. From an anecdotal perspective, it appears that the day that we cannot gain access to our money is now here. There are two instances that I am personally aware of, that the banks are failing to give their customers full access to THEIR money.
Read More @ Thecommonsenseshow.com
2014 has been one long year of economic yo-yoing. Many are breathing a sigh of relief knowing that another year has come to pass, and a better one will be replacing it.
In fact, half of the U.S. population feel confident that 2015 will be better than it’s predecessor. The Gallup’s economic confidence index has hit the highest level since the last recession.
That said, Michael Snyder, writer for the Economic Collapse Blog says, “not so fast.” He warns that everyone should stop looking to the machine-driven media for false hopes in 2015. Snyder believes that we are in store for a much more dismal year than the media is letting on.
Read More @ ReadyNutrition.com
Dr Marc Faber, respected economic historian and author of the respected monthly newsletter, the ‘Gloom, Boom and Doom Report’, has warned that 2015 is set to be very volatile, urged international diversification and owning “physical precious metals stored outside the U.S.”
In another insightful and witty interview with Bloomberg Television’s In the Loop, with Betty Liu, Erik Schatzker and Brendan Greeley, the ever charming and affable Dr. Marc Faber reaffirmed his long-standing preference for investing in emerging eastern economies, his lack of faith in the dollar and advised Americans to own gold.
Read More @ GoldCore.com
According to global market data from the top Official Mints, sales of Silver Eagles originate overwhelmingly from public retail investment demand rather than by one large bank… such as JP Morgan. I say this in response to the allegation put forth by silver analyst, Ted Butler who believes JP Morgan purchased half of all Silver Eagles since April, 2011.
Ted Butler, who has made this claim over the past several months, does so again in his recent article, The Perfect Crime. Butler states the following:
Submitted by Tyler Durden on 12/31/2014 - 14:43 "Every brick we can make has already been sold up to three months in advance – the UK brickmakers can’t supply demand at the moment," exclaims the CEO of one of Britain's largest brickmakers. With The UK's housing bubble spreading from London, The Telegraph reports that stocks of bricks have reached the lowest levels on record as homebuilders rush to take advantage of the surging demand for British property (which has seen realtors and economists worry is getting out of hand).
Most financial analysts have correctly observed that the price of gold has a direct correlation to the value of our money. Ever since the United States removed the gold standard, the precious metal has ceased to anchor the value of the dollar, and instead has become a safe haven asset for those who don’t trust a fiat currency that is backed by nothing. Thus, even though the United States has been off the gold standard for decades, the demand for gold still effects the price of the dollar, and vice-versa.
While these numbers don’t always perfectly correlate, it’s safe to assume that when demand for the dollar is high, people aren’t going to view their gold as a safe haven anymore. Many of these investors feel that the danger has passed, and good times are ahead for our economy.
Read More @ TheDailySheeple.com
Submitted by Tyler Durden on 12/31/2014 - 16:04
The globalist plan to incrementally merge the U.S., Canada and Mexico into a North American Union has been ongoing for years. While at times, the agenda appears to have seemingly stalled, current efforts to expand the trilateral partnership show that it is alive and once again gaining steam. With NAFTA as the foundation, the renewed push for deeper North American integration continues on many different fronts.
The Canadian Council of Chief Executives (CCCE), recently issued the report, Made in North America: a new agenda to sharpen our competitive edge. The CCCE is one of Canada’s most influential corporate lobby groups, with many of their proposals shaping the country’s domestic and foreign policy priorities. Throughout the years, they have pushed for deeper continental integration. With the 2015 North American Leaders Summit in mind, the CCCE offered a series of recommendations aimed at further expanding the trilateral relationship in areas such as border management, infrastructure, manufacturing, energy and regulatory cooperation.
Read More @ TheNewsDoctors.com
The Quantitative Easing initiatives have been declared as stimulus and successful in sustaining the US financial system. While having been able to continue the debt floats, the many market props, providing coverage for USGovt debt securities and mortgage backed securities which nobody wants, the initiative is hardly stimulus.
The hyper monetary inflation does what we always learned it did, as in from school for 50 years, dole out its powerful corrosive effect. The inflation lifts the cost structure, leads to elimination of profit margins, and forces businesses to shut down, thus taking equipment out of service. The Jackass prefers to call the QE effect as killing capital, forcing retired capital, putting equipment on mothballs, often liquidated. Neither the USFed nor the Wall Street partners ever refer to the capital destruction effect, because it contradicts their stimulus argument and false message. Theirs is pure propaganda in keeping with the urgent directive to save the banks that are too big to fail. These are the financial crime centers of America.
Submitted by Tyler Durden on 12/31/2014 - 15:47 "The Greek political turmoil is likely to complicate matters for the ECB’s preparation of a sovereign QE programme. The prospect of the ECB potentially incurring severe losses is likely to intensify the debate within the Governing Council, where sovereign QE remains controversial. It could also make the start of a buying programme already on January 22 even more ambitious. In addition, the spectre of default could create new limitations on any sovereign QE design."
No one can answer that question for anyone else, but it seems prudent to ask the question in the context of an Echo Bubble in valuations that appears to be deflating.
Readers often ask me if now is a good time to buy a house. This question has appeared in my inbox for the past nine years, as the Housing Bubble reached its climax, burst, and an Echo Bubble arose in its place.
It’s a tough question, as you know, for reasons that are inherent to buying and owning real estate, and to the uniqueness of every household’s finances and needs. So I always start by saying I can’t offer any advice or even suggestions, because everyone’s situation is unique.
Read More @ WashingtonsBlog.com
Virginia Governor Terry McAuliffe raised the ire of conservatives on Monday by proposing a package of gun control measures for the upcoming General Assembly. What irritated them most was that the governor claimed that these measures are designed to “keep people safe” from criminals. McAuliffe might better spend his time perusing the latest update from John Lott, showing that people are keeping themselves safe from criminals by obtaining their concealed carry permits.
Lott, the author of More Guns, Less Crime noted in a July 9 report for Crime Prevention Research Center that the number of citizens now permitted to carry concealed exceeds 11 million, up from eight million just three years ago. And even that number may be far too conservative:
Read More @ TheNewAmerican.com
Submitted by Tyler Durden on 12/31/2014 - 13:32 Ouch! 80% government-owned Royal Bank of Scotland is daring to go there... In the wake of a comprehensive review of more than 50 current and former traders who worked at the bank (and a $634 million fine), Bloomberg reports that RBS is suspending the bonuses of 18 FX traders. “We are undertaking a robust and thorough review into the actions of the traders that caused this wrongdoing and the management that oversaw it,” Jon Pain, RBS’s head of conduct and regulatory affairs, said, adding "no further bonus payments will be made or unvested bonus awards released to those in scope of the review until it has concluded."
Earlier today from Reuters we learned that “a body recovered on Wednesday from the crashed AirAsia plane was wearing a life jacket, an Indonesian search and rescue official said, raising new questions about how the disaster unfolded. Why is this surprising? Because the fact that one person put on a life jacket suggests those on board had time before the aircraft hit the water, or before it sank. And yet the pilots did not issue a distress signal…”
Read More @ ZeroHedge.com
Submitted by Tyler Durden on 12/31/2014 - 15:28 Hugh Hendry's Eclectica Fund has had a great Q4 (up 3.3%, 4.0%, and 5.0% in the last 3 months) despite portfolio risk being quadruple his 'old normal'. How did he achieve this? He begins... "There are times when an investor has no choice but to behave as though he believes in things that don't necessarily exist. For us, that means being willing to be long risk assets in the full knowledge of two things: that those assets may have no qualitative support; and second, that this is all going to end painfully. The good news is that mankind clearly has the ability to suspend rational judgment long and often... He who hangs on to truth has lost. The economic truth of today no longer offers me much solace; I am taking the blue pills now."
Rule: “All of the mainstream media analysts are completely sanguine and I hope they are right. They hope and believe the additional consumer savings from lower oil prices will get us out of the economic malaise that our governments have gotten us into. That would be a wonderful end to the downturn. But notice, Eric, that I prefaced that with the word ‘hope.’….
“My suspicion is that 2015 will give us more of the same. Meaning the global economy is flat on its back and it will stay there for quite some time. 2015 will bring small pockets of prosperity, but the prevailing trend towards increased government and increased government debt will continue to strangle the overall economy.
Rick Rule Continues @ KingWorldNews.com
Monday – Purge. Tuesday – Surge. Wednesday Purge.
Although on light volume, gold and silver prices are tumbling this morning, now trading back below the pre-Dec 17th FOMC levels (making sure that status quo-huggers can point to them being down year-to-date as proof all is well in the world)…
Read More @ ZeroHedge.com
A committee that includes senior Federal Reserve officials reviewed and overturned a bank examiner’s finding that Goldman Sachs lacked a firm-wide policy to prevent conflicts of interest, according to a top Fed official.
Bill Dudley, the head of the Federal Reserve Bank of New York, disclosed the action by the “Operating Committee” in a little-noticed aspect of his testimony last month before the U.S. Senate. Dudley said the panel was part of a new effort by the Fed to raise standards across the board by comparing the practices and health of the nation’s banks against each other.
Read More @ ProPublica.com