Are we on the verge of a major worldwide economic downturn? Well, if
recent warnings from prominent bankers all over the world are to be
believed, that may be precisely what we are facing in the months ahead.
As you will read about below, the big banks are warning that the price
of oil could soon drop as low as 20 dollars a barrel, that a Greek exit
from the eurozone could push the EUR/USD down to 0.90, and that the
global economy could shrink by more than 2 trillion dollars in 2015.
Most of the time, very few people ever actually read the things that the
big banks write for their clients. But in recent months, a lot of
these bankers are issuing such ominous warnings that you would think
that they have started to write for The Economic Collapse Blog.
Of course we have seen this happen before. Just before the financial
crisis of 2008, a lot of people at the big banks started to get spooked,
and now we are beginning to see an atmosphere of fear spread on Wall
Street once again. Nobody is quite sure what is going to happen next,
but an increasing number of experts are starting to agree that it won’t
be good.Read More…
Tomorrow Greece Decides: Europe... Or Russia
Submitted by Tyler Durden on 02/10/2015 - 16:17 "Greece's Foreign Minister Nikolaos Kotzias is to visit Moscow on Wednesday to hold talks with his Russian counterpart Sergei Lavrov, Russia's Interfax and TASS news agencies reported on Monday citing a source in the Russian Foreign Ministry." In other words, at precisely the same time as the FinMin is in Brussels discussing the fate, or lack thereof, of Greece in the Eurozone, the new Greek foreign miniser will be in the Kremlin, getting instant updates from Brussels and perhaps discussing the fate of Greece in the Eurasian Economic Union. Or put in the simplest of terms, tomorrow Greece will decide: Europe, or Russia.
How Fast Would Contagion Spread If Greece Exits The Eurozone
Submitted by Tyler Durden on 02/10/2015 - 14:41 It is very difficult for governments to control the progress of a monetary union break-up because the example of one country exiting will create a precedent in the eyes of other members of the monetary union. The transmission channel is not government bonds, nor equities, not currency markets, but banks. In the event of a Greek exit from the euro, the loss in the real value of Greek bank deposits would encourage bank depositors in other countries to withdraw their funds.The process can be very rapid indeed.
On September 23, 2014, an Italian court in Milan award compensation to a boy for vaccine-induced autism. (See the Italian document here.) A childhood vaccine against six childhood diseases caused the boy’s permanent autism and brain damage.
While the Italian press has devoted considerable attention to this decision and its public health implications, the U.S. press has been silent.
Read More…
by Stewart Thompson, Gold Seek:
1. All gold community eyes should be on the month of March, for three key reasons.
2. First, London is the world’s largest gold trading centre. The LBMA sets the price with a “fix” that is created by bank traders, using telephones.
3. There are two problems with the traditional London price fixing mechanism. First, there is a lack of transparency. Second, the bank bids and asks don’t necessarily reflect mine and scrap supply, or investment and jewellery demand.
4. In March, a new electronic LBMA price-discovery process is set to be unveiled, and it should bring great transparency to the market.
Read More @ GoldSeek.com
1. All gold community eyes should be on the month of March, for three key reasons.2. First, London is the world’s largest gold trading centre. The LBMA sets the price with a “fix” that is created by bank traders, using telephones.
3. There are two problems with the traditional London price fixing mechanism. First, there is a lack of transparency. Second, the bank bids and asks don’t necessarily reflect mine and scrap supply, or investment and jewellery demand.
4. In March, a new electronic LBMA price-discovery process is set to be unveiled, and it should bring great transparency to the market.
Read More @ GoldSeek.com
by Mac Slavor, SHTFPlan:
The world is now on the cusp of total war. This is the claim made by
former Assistant Secretary of the Treasury Paul Craig Roberts in a recent editorial.
And though doom predictions are quite popular given what’s going on in
the world as of late, to disregard Roberts’ assessment as fear-mongering
or hype would be short-sighted and dangerous. No, this time is not
different, and if political leaders around the world, especially in the
United States, Russia and Europe, don’t come to an agreement on the
future of Ukraine then it is only a matter of time before we eventually
cross the line into a scenario from which there is no return – for all
we know, we may have already crossed it at this point.
Read More @ SHTFPlan.com
The world is now on the cusp of total war. This is the claim made by
former Assistant Secretary of the Treasury Paul Craig Roberts in a recent editorial.
And though doom predictions are quite popular given what’s going on in
the world as of late, to disregard Roberts’ assessment as fear-mongering
or hype would be short-sighted and dangerous. No, this time is not
different, and if political leaders around the world, especially in the
United States, Russia and Europe, don’t come to an agreement on the
future of Ukraine then it is only a matter of time before we eventually
cross the line into a scenario from which there is no return – for all
we know, we may have already crossed it at this point.Read More @ SHTFPlan.com
from ARS Technica:
If you’ve ever filed a public records request with your local police
department to learn more about how cell-site simulators are used in your
community—chances are good that the FBI knows about it. And the FBI
will attempt to “prevent disclosure” of such information.
Not only can these devices, commonly known as “stingrays,” be used to determine a phone’s location, but they can also intercept calls and text messages. During the act of locating a phone, stingrays also sweep up information about nearby phones. Last fall, Ars reported on how a handful of cities across America are currently upgrading to new hardware that can target 4G LTE phones.
Read More @ ARSTechnica.com
h/t WhatReallyHappened.com
If you’ve ever filed a public records request with your local police
department to learn more about how cell-site simulators are used in your
community—chances are good that the FBI knows about it. And the FBI
will attempt to “prevent disclosure” of such information.Not only can these devices, commonly known as “stingrays,” be used to determine a phone’s location, but they can also intercept calls and text messages. During the act of locating a phone, stingrays also sweep up information about nearby phones. Last fall, Ars reported on how a handful of cities across America are currently upgrading to new hardware that can target 4G LTE phones.
Read More @ ARSTechnica.com
h/t WhatReallyHappened.com
by Gary Christenson, Deviant Investor:
The Jefferson Airplane sang about truth and lies nearly 50 years ago. “When the truth is found to be lies…And all the joy within you dies…”
Restating their insight to make it relevant to our global delusions about real money – gold and silver – and the much less real money we call dollars, euros, pounds, yen and so forth:
When the truths we want to believe are clearly lies…Then CONFIDENCE in our currency dies…
What do loss of confidence, loss of faith in financial systems, and pervasive lies have to do with gold and silver? The answer begins with: Gold is far more truthful money – central banks can’t print it or create it from “thin air.” Dollars, euros, yen and others are fiat currency units based on confidence and debt (not assets) and are supported by government mandates that these pieces of colored paper and computerized digits shall be accepted as money.
Read More @ DeviantInvestor.com
The Jefferson Airplane sang about truth and lies nearly 50 years ago. “When the truth is found to be lies…And all the joy within you dies…”Restating their insight to make it relevant to our global delusions about real money – gold and silver – and the much less real money we call dollars, euros, pounds, yen and so forth:
When the truths we want to believe are clearly lies…Then CONFIDENCE in our currency dies…
What do loss of confidence, loss of faith in financial systems, and pervasive lies have to do with gold and silver? The answer begins with: Gold is far more truthful money – central banks can’t print it or create it from “thin air.” Dollars, euros, yen and others are fiat currency units based on confidence and debt (not assets) and are supported by government mandates that these pieces of colored paper and computerized digits shall be accepted as money.
Read More @ DeviantInvestor.com
from Gold Core:
Despite attempts last week by EU technocrats to browbeat the new and
inexperienced Greek government into submission, Syriza appear to have
grown even more resolute to fulfil their mandate.
Alan Greenspan has thrown down the gauntlet and predicted a Greek exit from the Euro. Noting the contradiction at the heart of Europe Greenspan pointed out that without political unity you can not have a fiscal unity.
“The problem is that there is no way that I can conceive of the euro of continuing, unless and until all of the members of the eurozone become politically integrated – actually even just fiscally integrated won’t do it.”
Read More @ GoldCore.com
Despite attempts last week by EU technocrats to browbeat the new and
inexperienced Greek government into submission, Syriza appear to have
grown even more resolute to fulfil their mandate.Alan Greenspan has thrown down the gauntlet and predicted a Greek exit from the Euro. Noting the contradiction at the heart of Europe Greenspan pointed out that without political unity you can not have a fiscal unity.
“The problem is that there is no way that I can conceive of the euro of continuing, unless and until all of the members of the eurozone become politically integrated – actually even just fiscally integrated won’t do it.”
Read More @ GoldCore.com
US Plans To Open Naval Base In Australia Risking More 'Inflamed Tensions' With China
Submitted by Tyler Durden on 02/10/2015 - 17:10 With Russia allegedly moving its military presence deeper into NATO territory in Europe (with a Cyrpiot base), Bloomberg reports that in response to the regions' growing strategic importance, the US plans to open naval base in Australia (risking further "inflamed tensions" with China) in the midst of a “pivot-to-Asia” that will see 60% of its naval forces deployed in the region by 2020. The latest move, Admiral Greenert confirms, "we’re doing a study together with the Australia Defence Force to see what might be feasible for naval cooperation in and around Australia, which might include basing ships," as the Indian Ocean and South China Seas are becoming "geostrategic hot spots."
from Sprout Money:
A very decent job report for the month of January has crushed the gold
price last Friday as the yellow metal lost more than $30 per ounce,
sending it back to the lowest level in more than a month. Even though
there was some support around the $1250 level, we fell right through it
on the back of an allegedly good jobs report.
According to the official numbers, approximately 257,000 jobs were created in January but the attention was mainly drawn towards the upwards revision of the November and December numbers, where an additional 147,000 jobs were estimated to have been created. This had a major consequence as it meant that in 2014, more new job were created than any time in the previous 14 years. Theoretically, this sounds great, but the ‘number of jobs added’ does not necessarily improve the quality of life.
Read More @ SproutMoney.com
A very decent job report for the month of January has crushed the gold
price last Friday as the yellow metal lost more than $30 per ounce,
sending it back to the lowest level in more than a month. Even though
there was some support around the $1250 level, we fell right through it
on the back of an allegedly good jobs report.According to the official numbers, approximately 257,000 jobs were created in January but the attention was mainly drawn towards the upwards revision of the November and December numbers, where an additional 147,000 jobs were estimated to have been created. This had a major consequence as it meant that in 2014, more new job were created than any time in the previous 14 years. Theoretically, this sounds great, but the ‘number of jobs added’ does not necessarily improve the quality of life.
Read More @ SproutMoney.com
by Dave Hodges, The Common Sense Show:
In 2012, President Obama was heard, by Whitehouse assistants,
bragging to his lackeys about his ability to kill people with drones
and that he was really “good at it”. I am sure if we ask Michael
Hastings, he would agree that this President is outstanding at killing
people with drones.
Move over Andrew Breitbart,Tom Clancy and of course, Michael Hastings, the President and his skill with drones has not gone unnoticed by economic expert, Jim Clifton. Clifton, the chairman & CEO of Gallup, a performance consulting company, told the host of a CNBC show on unemployment the following:
That he was worried that he might “suddenly disappear” and that he “not make it home that evening if he disputed the accuracy of the government’s stated unemployment rate“.
Read More @ Thecommonsenseshow.com
In 2012, President Obama was heard, by Whitehouse assistants,
bragging to his lackeys about his ability to kill people with drones
and that he was really “good at it”. I am sure if we ask Michael
Hastings, he would agree that this President is outstanding at killing
people with drones.Move over Andrew Breitbart,Tom Clancy and of course, Michael Hastings, the President and his skill with drones has not gone unnoticed by economic expert, Jim Clifton. Clifton, the chairman & CEO of Gallup, a performance consulting company, told the host of a CNBC show on unemployment the following:
That he was worried that he might “suddenly disappear” and that he “not make it home that evening if he disputed the accuracy of the government’s stated unemployment rate“.
Read More @ Thecommonsenseshow.com
Speculators Have Never Been As Long VIX As They Are Today
Submitted by Tyler Durden on 02/10/2015 - 16:53 It appears the management team at FBRNY have decided that manipulating the US equity market via selling VIX has run its course (which started when Brian Sack left and Simon Potter took over) . As of this week - there has never been a bigger speculative long VIX position (implicitly bearish stocks). One wonders what the consequences are?
Economists: They Can Add But Can't Put Two & Two Together
Submitted by Tyler Durden on 02/10/2015 - 16:35 Once again we found ourselves bewildered while watching financial discussions on television. All one needs to do to follow along is forget your rational objective analysis at the door, have another glass of the proverbial “Kool-Aid™, and chant with the
Elizabeth Warren Opposes "Congressional Meddling" 'Audit The Fed' Bill
Submitted by Tyler Durden on 02/10/2015 - 15:07 It would appear the powers that be are getting nervous. Yesterday, Fed Governor Jerome Powell (and Fisher and Plosser) stepped up the central bank’s push against what he termed congressional efforts to extend political influence over monetary policy, calling them "misguided" and "in violent conflict with the facts." Today we have Senator Elizabeth Warren trying to sound supportive of transparency but proclaiming that she opposes Rand Paul's "Audit The Fed" Bill because it promotes "congressional meddling in the Fed’s monetary policy decisions," and has "dangerous implications for financial stability and the health of the global economy."
Halliburton To Cut Up To 6,500 Jobs As Crude Carnages To Crucial $50 Level
Submitted by Tyler Durden on 02/10/2015 - 13:50 But everything was supposed to be fixed?*HALLIBURTON WILL CUT 5,000-6,500 JOBS: HOUSTON BUSINESS JOURNAL
WTI is tumbling down 5%, nearing the crucial $50 level...
/
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