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A Cat-5 Debt Crisis is Coming Our Way! | Uncommon Wisdom Daily

A Cat-5 Debt Crisis is Coming Our Way! | Uncommon Wisdom Daily | Gold and What Moves it. | Scoop.it
The sovereign-debt crisis coming our country’s way will be a Category 5 financial storm. And Obama’s second term is entirely consistent with it.

 

by Larry Edelson:

 

"Obama’s policies of class warfare and fat tax increases on the job-producers and risk-takers in our country will tear our society apart by the seams.

 

"It will deepen the looming sovereign-debt crisis, and eventually destroy the U.S. dollar.

 

"The next eight months – before the crisis fully hits our economy – will be your very last chance to get your financial house in order.

 

"Fact is, I didn’t like either presidential candidate all that much. But Obama’s policy of instigating and escalating class warfare in our country, further dividing our society and blaming almost everything on the rich is just about the worst platform any leader can have.

 

"Just consider the history of class struggles and you will see what I mean. They almost never solve any of those problems. Instead, they often lead to terrible consequences.

 

"Nearly every one of the revolutions in our history was largely triggered by class warfare – blaming the rich, targeting them for higher taxes and, in many cases, literally chasing them out of their country. ..."

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LearCapital | Download Lear Gold & Silver Daily Today!

LearCapital | Download Lear Gold & Silver Daily Today! | Gold and What Moves it. | Scoop.it

Download the Free Lear Gold & Silver Daily Today!

 

Stay on top of the latest breaking commodities market news, coin prices, real time charts and special promotions from Lear Capital's “Lear Gold and Silver Daily” app for both iOS  and Android devices .

 

The Lear Gold and Silver Daily app is a special new benefit brought to you by Lear Capital at no additional cost.

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oftwominds-Charles Hugh Smith: The Chart of Doom: When Private Credit Stops Expanding...

oftwominds-Charles Hugh Smith: The Chart of Doom: When Private Credit Stops Expanding... | Gold and What Moves it. | Scoop.it
Once private credit rolls over in China and the U.S., the global recession will start its rapid slide down the Seneca Cliff.


Few question the importance of private credit in the global economy. When households and businesses are borrowing to expand production and buy homes, vehicles, etc., the economy expands smartly.

 

When private credit shrinks--that is, as businesses and households stop borrowing more and start paying down existing debt--the result is at best stagnation and at worst recession or depression. ...

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oftwominds-Charles Hugh Smith: Why We Won't Have a "Lehman Moment" in the 2016 Crash

oftwominds-Charles Hugh Smith: Why We Won't Have a "Lehman Moment" in the 2016 Crash | Gold and What Moves it. | Scoop.it

What the central banks cannot do is create productive places to invest the credit they've generated in such excess, or force qualified borrowers to swallow more unproductive debt.
One way to lose a war is to focus on preparing to fight the last war. Preparing to fight the last war is a characteristic of losing generals, militaries and nations. The same is true of finance and economies.

General Grant's difficulties in breaking the trench warfare around Petersburg, VA in the last year of the American Civil War (1864 to early 1865) telegraphed the future of trench warfare to astute observers. Few took heed of the lessons of the "first modern war," and many of the same strategies of 1864 (digging a tunnel under enemy lines and filling the tunnel with explosives to blow a hole through their defenses, for example) were repeated in the Great War of 1914-1918 fifty years later. ...

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ALERT: Legend Warns Global Governments Are Now Preparing For Total Collapse - King World News

ALERT: Legend Warns Global Governments Are Now Preparing For Total Collapse - King World News | Gold and What Moves it. | Scoop.it
As global markets head into what will surely be another wild trading week, today the man who has become legendary for his predictions on QE, historic moves in currencies, and major global events, warned that the governments of the world are now preparing for total collapse.

Egon von Greyerz:  “Eric, 25% of government bonds are now negative around the world. On Friday morning Bank of Japan was the latest country to introduce negative rates. There are now 13 countries with yields up to 2 years being negative and 10 countries with negative yields up to 10 years. I have been saying for a very long time that Japan is bankrupt and negative rates will of course not save their economy…
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#China’s #gold absorption, not retail consumption, is the key to global gold flows @SharpsPixley

#China’s #gold absorption, not retail consumption, is the key to global gold flows @SharpsPixley | Gold and What Moves it. | Scoop.it
There have been two schools of thought regarding the measurement of Chinese gold demand – those who have followed the figures put out by the major precious metals consultancies and the World Gold Council, and the hugely higher figures suggested by Shanghai Gold Exchange (SGE) withdrawal figures.

In truth we find the mainstream consultancy and WGC figures increasingly hard to live with, despite the analysts pouring scorn on the SGE figures which, to this observer, look much more likely if one relates them to known mainland China gold imports alone – let alone adding in the nation’s very substantial domestic new gold output.  For example, if one goes by mainstream consultancy GFMS China gold consumption figures you find an annual total under the consultancy’s latest report of something well south of 1,000 tonnes for 2015 and with the added comment that Indian consumption was ahead of that for China for the second consecutive year.

But – and this is a big but – it all depends on how one defines consumption.  As far as gold jewellery demand is concerned this is probably all very true.  But GFMS also comments that Chinese bank holdings of gold increased by as much as 400 tonnes over the first three quarters of the year bringing total bank holdings to some 1,900 tonnes at that time – and presumably to over 2,000 tonnes by the year end.  This is all gold being absorbed by the Chinese market in some form or another.  Interestingly if China treated its commercial bank holdings in the same way that Turkey does, then the country’s total gold reserves (Central Bank plus commercial banks) would probably be close to 4,000 tonnes, which does correlate pretty well to some estimates of total Chinese gold holdings, rather than the 1,762 tonnes the Central Bank reports to the IMF. 
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oftwominds-Charles Hugh Smith: The Illusion of Safety: Index Funds Are Not Low-Risk

oftwominds-Charles Hugh Smith: The Illusion of Safety: Index Funds Are Not Low-Risk | Gold and What Moves it. | Scoop.it

If the risk-on euphoria of punters borrowing billions of dollars in margin debt doesn't materialize, stocks could languish for years after falling 50%.
The financial service industry's Prime Directive is to exploit humanity's core drives of Greed and Fear. Financial service companies promise high returns (fulfilling our greed) that are low-risk, i.e. "safe" (placating our fear of losing our nest-egg).

But the safety of many supposedly low-risk investments is illusory. The risk is not actually near-zero; rather, the risk has been buried, masked or obscured, for the obvious purpose of persuading the marks (i.e. the investing public, non-financial institutions, etc.) that the promised gains are essentially risk-free. ...

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2008 Comparisons Give #Gold Big Boost - Holmes

2008 Comparisons Give #Gold Big Boost - Holmes | Gold and What Moves it. | Scoop.it
By Frank Holmes – CEO and Chief Investment Officer, U.S. Global Investors

Plunging oil prices, rising market volatility, surging global debt—it’s all beginning to remind some investors of 2008. Earlier this month, billionaire former hedge fund manager George Soros warned of an impending financial crisis similar to the last major one, which sent shockwaves throughout global markets.

The comparisons to 2008 have triggered gold’s Fear Trade, with many investors scrambling into safe haven assets. Jeffrey Gundlach, the legendary “bond king,” recently made a call that amid further market turmoil, the metal could spike as much as 30 percent, to $1,400 an ounce.
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oftwominds-Charles Hugh Smith: Central Banks Are Out of Tricks

oftwominds-Charles Hugh Smith: Central Banks Are Out of Tricks | Gold and What Moves it. | Scoop.it
Once the power to manage expectations has been lost, the central bank bag of tricks is empty.
No one knows precisely how and when the global unraveling will impact their corner of the planet, but we do know one thing with absolute certainty: central banks are out of tricks.

Like all good conjurers, the major central banks will claim that their magical powers to inflate asset valuations and inspire the animal spirits of risk, borrowing and spending are unimpaired, but this time the audience knows the truth: their magic is threadbare and their trick-bag is empty.
Obfuscation and doublespeak are primary components of central bank magic.The magic is largely semantic: if the Federal Reserve claims it can restore the economy and the stock market with reverse repos and other financial legerdemain, the corporate media is always ready to repeat this dubious claim until it is accepted as self-evident.
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oftwominds-Charles Hugh Smith: The Coming Era of Financial Triage

oftwominds-Charles Hugh Smith: The Coming Era of Financial Triage | Gold and What Moves it. | Scoop.it

by Charles Hugh Smith

 

Virtually every major program of every major nation-state is financially unsustainable going forward.

 

Though triage is typically used in a medical setting, we are entering an era when financial triage will increasingly be necessary on a household, enterprise and national level.

The term triage may have originated during the Napoleonic Wars from the work of Dominique Jean Larrey. The term was used further during World War I by French doctors treating the battlefield wounded at the aid stations behind the front. Those responsible for the removal of the wounded from a battlefield or their care afterwards would divide the victims into three categories:

 

Those who are likely to live, regardless of what care they receive

 

Those who are likely to die, regardless of what care they receive

 

Those for whom immediate care might make a positive difference in outcome. ...

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Peddling Fiction...? :: Jim Sinclair's Mineset

Dear CIGAs,

“Peddling fiction” …this is what Mr. Obama said of anyone who believes and says the U.S. has a weak economy.  How ironic he should say this when he did, the State of the Union address?  I mean the timing could not have been any better!  In a week where oil prices hit a 14 year low, freight rates at over 30 year lows, equity, credit and FOREX markets all over the world crashing and derivatives blowing up.  How do we know derivatives are blowing up?  Simply because the Dallas Fed has given their banks permission not to mark energy debt to market.  In essence, the Fed has instructed their banks TO PEDDLE FICTION!

http://www.zerohedge.com/news/2016-01-16/exclusive-dallas-fed-quietly-suspends-energy-mark-market-tells-banks-not-force-shale

One must ask the question(s), how can the Fed really do this as accounting firms must sign off on any audits or official financial reports?   Do the accounting firms also get “special waivers” to lie or as our fearless leader says “peddle fiction”?  Also, how can the Fed really do this with a straight face?  Did they really believe the markets would not sniff this out? ...

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oftwominds-Charles Hugh Smith: Could China's Housing Bubble Bring Down the Global Economy?

oftwominds-Charles Hugh Smith: Could China's Housing Bubble Bring Down the Global Economy? | Gold and What Moves it. | Scoop.it

Who's going to buy the tens of millions of empty flats held as investments?
I've been writing a lot about China recently because it's becoming increasingly clear that China's economy is slowing and the authority's "fixes" are not turning it around. That means the engine that pulled the global economy out of the 2009 recession has stalled.
Many people see China's slowdown as the source of the next global recession, but few seem to realize the extreme vulnerability of China's vast housing market and the many knock-on consequences of that market grinding to a halt.

I've just completed a comprehensive review of China's housing market, and now realize it's much worse than the consensus understands. ...

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20th Largest Bank In The World: 2016 Will Be A ‘Cataclysmic Year’ And ‘Investors Should Be Afraid’

20th Largest Bank In The World: 2016 Will Be A ‘Cataclysmic Year’ And ‘Investors Should Be Afraid’ | Gold and What Moves it. | Scoop.it
The Royal Bank of Scotland is telling clients that 2016 is going to be a “cataclysmic year” and that they should “sell everything”.  This sounds like something that you might hear from The Economic Collapse Blog, but up until just recently you would have never expected to get this kind of message from one of the twenty largest banks on the entire planet.  Unfortunately, this is just another indication that a major global financial crisis has begun and that we are now entering a bear market.  The collective market value of companies listed on the S&P 500 has dropped by about a trillion dollars since the start of 2016, and panic is spreading like wildfire all over the globe.  And of course when the Royal Bank of Scotland comes out and openly says that “investors should be afraid” that certainly is not going to help matters.

It amazes me that the Royal Bank of Scotland is essentially saying the exact same thing that I have been saying for months.  Just like I have been telling my readers, RBS has observed that global markets “are flashing the same stress alerts as they did before the Lehman crisis in 2008″…
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LAWRIE WILLIAMS: Could gold be the answer in a difficult 2016

LAWRIE WILLIAMS: Could gold be the answer in a difficult 2016 | Gold and What Moves it. | Scoop.it
Here are a couple of paragraphs that to me stood out in an investment letter I have had sight of from independent analyst Russell Napier of ­Electronic Research Interchange:

“If you had not noticed, 2016 has begun with gold and the USD rising simultaneously. This is different and important. This is very positive for gold and very bad for the world.

“The rise of both together may signal that we have just entered that period when this inert non-yielding substance is preferred to those assets that promise a yield but where the scale of future payments is subject to considerable doubt. Also positive for gold, the advent of deflation, following the failure of the easy reflationary solutions promised by non-elected central bankers, will enfranchise aggressive acts of reflation by our elected representatives. When the tough get going then the going will really get tough- at least if you’re an owner of capital.”
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Oil market spiral threatens to prick global debt bubble, warns BIS

Oil market spiral threatens to prick global debt bubble, warns BIS | Gold and What Moves it. | Scoop.it
The global oil industry is caught in a self-feeding downward spiral as falling prices cause producers to boost output even further in a scramble to service $3 trillion of dollar debt, the world’s top watchdog has warned.
The Bank for International Settlements fears that a perverse dynamic is at work where energy companies in Brazil, Russia, China and parts of the US shale belt are increasing production in defiance of normal market logic, leading to a bad “feedback-loop” that is sucking the whole sector into a destructive vortex.
“Lower prices have not removed excess capacity from the market, but instead may have exacerbated it. Production has been ramped up, rather than curtailed,” said Jaime Caruana, the general manager of the Swiss-based club for central bankers.
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The Great Credit Unwind! :: Jim Sinclair's Mineset

The action in nearly all markets worldwide changed on a dime since January 1st. I am not sure “what or why” the change coincided so closely with the calendar year but the rate hike by the Fed is the leading candidate. As for the real global economy, there is certainly evidence the weakness of late last year has deepened significantly. The pace of collapse has shifted gears as evidenced by trade, earnings and even central banks. Japan’s new policy of negative interest rates followed by new Fed trial balloons of same speak volumes about “stress”.

Another area of stress is change in the action on COMEX. I have documented over the past year several delivery months where there were more contracts standing than registered gold available for delivery. The current Feb. contract has gone past first notice day with 13.3 tons of gold standing for 4.5 tons of registered gold. A very good synopsis of this was done yesterday by Craig Hemke at TF Metals Connecting The Comex Dots I encourage you to read this as Craig documents the recent shell game with inventory.

It is important to understand there are huge changes going on at COMEX. First I need to correct something I wrote last week. I said “it doesn’t make sense for the shorts to not deliver on the first or second day of the delivery period and wait until the end of the month”. This is absolutely correct, but I wrote this in late Jan. … so the deliveries we saw were some FIFTY PLUS days after the delivery period began on Dec. 1st! Are they really allowed to wait 55 days to make a delivery? Just to make it clear, it make no sense whatsoever to not make a delivery on day one or two because the storage costs must be paid. I absolutely stand by the most obvious reason not to deliver is because the gold was not available. ...

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oftwominds-Charles Hugh Smith: The Global Economy Could Fall Farther and Faster Than Pundits Expect

oftwominds-Charles Hugh Smith: The Global Economy Could Fall Farther and Faster Than Pundits Expect | Gold and What Moves it. | Scoop.it
Systemic fragility doesn't respond to central bank jawboning or Keynesian claptrap; unlike those "policy tools," fragility is real.
The core narrative of central bank/cartel capitalism is centralized agencies have the power to limit downturns and extend credit-based "good times" almost indefinitely. The centralized power bag of tricks includes fiscal policies such as deficit spending to boost "aggregate demand" in downturns and monetary policies such as lowering interest rates to zero and buying assets, a.k.a. quantitative easing.

If we crawl under the barbed wire and escape the ideological Keynesian Concentration Camp, we find thinkers such as Ugo Bardi, John Michael Greer and Dimitry Orlov, whose work explores the dynamics of collapse, resilience and sustainability.
All three have added a great deal to my own (emerging) understanding of the many dynamics of collapse.
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Weapons of Mass Financial Destruction! - Bill Holter @JSMineset

Dear CIGAs,

Every once in a while it is a good thing to review something we already know and have known for quite a while. What we’re talking about are derivatives and the very basics of how they work… or not. We have seen massive volatility since the Fed raised rates last month. The humor (tragedy), admitted to yesterday by the Fed, the 4th quarter saw slowing economies all over the world and “Nobody Really Knows Anything Right Now” ! I say “humor” because the Fed tightened rates just as the economy was weakening again. Many have said the Fed raised rates at “exactly the wrong time”. History may agree with this, I do not. In fact, there has not been one single day since the end of 2008 the Fed “should have” raised rates simply because of the massive debt embedded in the system and those pesky weapons of mass financial destruction called DERIVATIVES! Higher rates will only serve as a “margin call” in a system with no margin left!

First, derivatives are generally a zero sum game contract between two parties “betting” on something. They can be looked at as a speculation, a hedge, or even “insurance”. For this missive, let’s look at the “insurance aspect” of derivatives as literally $10′s of trillions in gains and losses have occurred just this month alone worldwide.

For example and as you know, the price of oil has collapsed. Ignoring the gains and losses directly on oil, let’s look at companies who’s business is oil. Whether it be production, exploration, transport or even “trading”, huge sums of money have been gained or lost depending on which way your bet was. Many oil related companies have CDS (credit default swaps) written against their debt. These contracts have been rising and rising in value as oil has dropped and the possibility of bankruptcies have risen. Huge gains by owners and losses by the “writers” of CDS have accrued.
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Jesse's Café Américain: FOMC Statement for January 27, 2016

Jesse's Café Américain: FOMC Statement for January 27, 2016 | Gold and What Moves it. | Scoop.it

Net-net the Fed is bothered by the dampening effects of the stronger dollar on exports, and the lack of inflation.

They continue to promote the fantasy of a recovery in the labor markets, but that vain hope will dissipate no doubt given time.

They may *get it* but their complicity in and personal advancement from a broken system hampers their ability to recognize and act  ...

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oftwominds-Charles Hugh Smith: Top-Down "Solutions" = Institutionalized Serfdom, Bottom-Up Solutions = Reviving Opportunity

oftwominds-Charles Hugh Smith: Top-Down "Solutions" = Institutionalized Serfdom, Bottom-Up Solutions = Reviving Opportunity | Gold and What Moves it. | Scoop.it
If the "solution" doesn't enable the accumulation of capital in all its forms by individuals and households, it isn't a real solution--it's just another top-down scheme that institutionalizes subsistence serfdom.
Phrases like reviving the American Dream emit the lingering stench of empty political rhetoric mouthed by bought-and-paid-for candidates. But if we wave aside this foul smell, we're left with a very profound topic: reviving broad-based opportunity.
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The Government Will Never Let It Happen! - Bill Holter @JSMineset

Dear CIGAs,

What a tangled web the global geopolitical situation has become.  Geopolitics and finance have always been interrelated but recently much more so.  As many readers know, I have speculated we would be hit over the head with a “truth bomb” from the East and most likely from Mr. Putin himself.  Just this week Britain has alleged Mr. Putin personally ordered a “hit” on an ex KGB agent for calling him a pedophile  http://nypost.com/2016/01/21/murdered-ex-spy-accused-putin-of-pedophilia/. ; Another story came out that Turkey shot down a NATO helicopter which made no press coverage at all in the West.  Also, Victoria Nuland recently travelled to Russia and was refused an audience by Mr. Putin.  This, after John Kerry had a meeting where he went into it saying “Assad must go” and came out saying Mr. Assad can stay …  Why all of this now?  I would simply say this reeks of desperation and also a VERY dangerous strategy to attack Mr. Putin personally.  I say “dangerous” because it raises the likelihood of a response from him.  Can you imagine the outrage were Russia to accuse president Obama or the Prime Minister Cameron of Britain for ordering the murder of someone who called them a pedophile?

Before going any further, I believe nearly ALL of what we are seeing is centered by and on the “petrodollar”.  Will it survive or be replaced?  In my opinion it is no longer “if”, but “when” and by “what” will it be replaced with?  Just over the last two weeks we have seen three very important yet interrelated events.  First, the sanctions against Iran in place over the last 35 years were lifted.  Along with this comes the ability for Iran to sell oil and they will now have access to up to $150 billion worth of assets and accounts previously frozen as reported by many credible non-government sources. ...

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Fleckenstein Warns - Ignore Bounces And Expect A Serious Acceleration To The Downside - King World News

Fleckenstein Warns - Ignore Bounces And Expect A Serious Acceleration To The Downside - King World News | Gold and What Moves it. | Scoop.it
By Bill Fleckenstein President Of Fleckenstein Capital

January 19 (King World News) – Though my last column was only a few days ago, it almost feels like an eternity, with Friday seeing huge selling, the world stabilizing while we were on holiday, and the market opening today as if nothing bad had happened last week or so far this year. That’s not to say that the market should never bounce, because we often see bounces in bear markets and declines in bull markets.

I am just a little surprised to see so much complacency given the damage that has been done, but I guess since we haven’t seen real fear, as demonstrated by a huge spike in the VIX, perhaps complacency actually fits…
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Blame our lousy economy for Wall Street's woes

Blame our lousy economy for Wall Street's woes | Gold and What Moves it. | Scoop.it

by John Crudele:

 

So what the hell is going on with the stock market?

You have the right to ask that question, not only because stock prices are down nearly 10 percent in the last month but also because you are hearing some crazy explanations from Wall Street pundits — as well as from those in the media.

And the media types are merely regurgitate what the pundits say.

The answer is simple: The market is down because stock prices were artificially high for a long time — thanks to the Federal Reserve — and because the world economy is extremely weak. And a weak economy doesn’t bode well for corporate profits going forward, which is what stock prices are supposed to be based on.

It’s really that simple — until the “experts” muddy it up with explanations that are mainly intended to cover their asses.

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What's Eroding the Middle Class? - oftwominds-Charles Hugh Smith @chsm1th

What's Eroding the Middle Class? - oftwominds-Charles Hugh Smith @chsm1th | Gold and What Moves it. | Scoop.it

This erosion of a self-employed, independent middle class was an important pre-condition for the collapse of Rome and the French Revolution.
I have devoted many blog posts to the erosion of the middle class, for the specific reason that when the middle class--the layers of the economy between the Power Elites and landless laborers/state dependents--erodes away, the nation/empire is destabilized and descends into crisis.

A society without a functioning middle layer of economic and social activity is not stable, though repression can mask this for a time.
As historian Peter Turchin explained in his book War and Peace and War: The Rise and Fall of Empires, societies that lose the cohesion needed for concerted, collective action collapse, either by failing to meet an external threat or from internal conflicts. ...

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Financial Crisis Worse Because It’s Global-Nomi Prins | Greg Hunter’s USAWatchdog

Financial Crisis Worse Because It’s Global-Nomi Prins | Greg Hunter’s USAWatchdog | Gold and What Moves it. | Scoop.it

Greg Hunter’s USAWatchdog.com  (Early Sunday release)

Best-selling author and journalist Nomi Prins says the next financial crisis will be much worse than 2008. Prins contends, “If you look at the beginning of 2016 . . . it’s indicative of the rest of the year. We are seeing declines everywhere, and they are significant declines. The stock market won’t be a correction, but indicative of more downward spiraling to come.”

So, will the coming financial crisis be worse than the 2008 meltdown? Prins explains, “Yes, it is worse because it is global. What happened in the subprime crisis, and I talked about this in an earlier book, “It Takes a Pillage,” the subprime crisis was primarily constructed by U.S. banks, and then, those toxic assets and bonds distributed throughout the world. For the most, part they were on a small amount of loans in the United States that were leveraged a lot. . . . Now, they have distributed that cheap money with loans on a global basis. That’s why oil contracting and the knock on effect with defaults with oil companies throughout the world has a far greater impact. It’s not just on bank balance sheets, but companies and ...

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oftwominds-Charles Hugh Smith: Can We See a Bubble If We're Inside the Bubble?

oftwominds-Charles Hugh Smith: Can We See a Bubble If We're Inside the Bubble? | Gold and What Moves it. | Scoop.it
We want this time to be different so badly, we can almost taste it.
If you visit San Francisco, you will find it difficult to walk more than a few blocks in central S.F. without encountering a major construction project. It seems that every decrepit low-rise building in the city has been razed and is being replaced with a gleaming new residential tower.

Parking lots have been ripped up and are now sprouting condos and luxury rental flats.
The influx of mobile/software tech into the S.F. Bay Area has triggered not just a boom in tech but in all the service sectors that cater to well-paid techies. This mass of new people has created traffic jams that last virtually all day and evening, and overloaded the area's BART transit rail system such that trains at 11 pm are as jammed as any during rush hour.
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The breakdown of December's extremely misleading job report

The breakdown of December's extremely misleading job report | Gold and What Moves it. | Scoop.it

Four days after Wall Street and the business media went gaga over the better-than-expected 292,000 new jobs created in December, let me tell you the non-adjusted truth: There were just 11,000 new jobs created last month.

That’s not my estimate or the guess of some on-the-fringe Obama administration critic. That comes directly from the Labor Department Web site. Here’s how to find it.

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