The Debtquake Monitor
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The Debtquake Monitor
Ways to Survive & Profit in a Financial Crisis
Curated by Nick Laight
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World should 'de-Americanise', says China following default fears - Telegraph

World should 'de-Americanise', says China following default fears - Telegraph | The Debtquake Monitor | Scoop.it
US default fears prompts China's state-run media call for the world to "de-Americanise" as Christine Lagarde warns of "massive disruption the world over"
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Get your fiscal house in order: China warns US as superpower expresses concern for $1.3tn of investments

Get your fiscal house in order: China warns US as superpower expresses concern for $1.3tn of investments | The Debtquake Monitor | Scoop.it
China, the biggest foreign creditor of the United States, has waded into the American budget crisis, warning Congress that it must resolve the political impasse over the debt ceiling without further delay.
Nick Laight's insight:

I was wondering how long it would take for the creditor to ask for some fiscal responsibility from the ne'er-do-well debtor!

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Is Asia Heading for a Debt Crisis? | TIME.com

Is Asia Heading for a Debt Crisis? | TIME.com | The Debtquake Monitor | Scoop.it
Amid worries of Asia's rising debt, an HSBC study notes that, based on ratios of bank credit to GDP for the region, “leverage is now higher than at the peak before the Asian crisis in 1997”
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Italian election deadlock puts Euro crisis back on the agenda

Italian election deadlock puts Euro crisis back on the agenda | The Debtquake Monitor | Scoop.it
The result of the Italian election has put paid - for now - to the markets' view the worst of the eurozone crisis was over, say analysts.
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World population could hit 15 billion by 2100

World population could hit 15 billion by 2100 | The Debtquake Monitor | Scoop.it

Nearly 7 billion people now inhabit planet but projections that number will double this century have shocked academics...


Via Wildcat2030, ddrrnt, ABroaderView, Nick Laight
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The United States of Europe: could the crisis trigger full economic and fiscal union?

The United States of Europe: could the crisis trigger full economic and fiscal union? | The Debtquake Monitor | Scoop.it

European Union chiefs are drawing up plans for a single “Treasury” to oversee tax and spending across the 17 eurozone nations.

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Federal Reserve's $1.2 trillion emergency loans: who borrowed what and when

Federal Reserve's $1.2 trillion emergency loans: who borrowed what and when | The Debtquake Monitor | Scoop.it

The US Federal Reserve offered emergency lending programs to help banks with cash. See an updated ranking of financial institutions that had the biggest loans.

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The United States of Europe: could the crisis trigger full economic and fiscal union?

The United States of Europe: could the crisis trigger full economic and fiscal union? | The Debtquake Monitor | Scoop.it

European Union chiefs are drawing up plans for a single “Treasury” to oversee tax and spending across the 17 eurozone nations.

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5 Reasons Why the Dow Will Fall to 10,000 by June 2012

5 Reasons Why the Dow Will Fall to 10,000 by June 2012 | The Debtquake Monitor | Scoop.it

You can't blame investors for feeling a bit cautious regarding the Dow Jones Industrial Average's (DJIA) recent push from 10,700 to 11,140 in the past month. The stock market's bears say it's a false rally, and the Dow is likely to fall.

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The man behind the V for Vendetta mask

The man behind the V for Vendetta mask | The Debtquake Monitor | Scoop.it

The sinister Guy Fawkes masks made famous by the film V for Vendetta have become an emblem for anti-establishment protest groups. Who's behind them?

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Not for the squeamish! Europe's Web of Debt - Click on graphic for a better view of how the contagion could spread

Not for the squeamish! Europe's Web of Debt - Click on graphic for a better view of how the contagion could spread | The Debtquake Monitor | Scoop.it

Banks and governments in these five shaky economies owe each other many billions of euros, and have even larger debts to Britain, France and Germany.

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Amazing video! 'We don't care about the economy and euro is toast': says trader who believes Goldman Sachs rules the world and goes to bed every night and dreams of recession!

Amazing video! 'We don't care about the economy and euro is toast': says trader who believes Goldman Sachs rules the world and goes to bed every night and dreams of recession! | The Debtquake Monitor | Scoop.it

Whther this guy is a self-promoter or not, you've got to watch this jaw-dropping video. Alessio Rastani claims ‘Goldman Sachs rules the world’ and says millions will lose their savings...'

 

Although it now seems Rastani is a chancer, his interview has become a viral hit ... perhoas because he so eloquently articulated what most of us really thought?

 

"For most traders we don't really care about how they're going to fix the economy... Our job is to make money from it."Personally I've been dreaming of this moment for three years. I have a confession: I go to bed every night and I dream of a recession."

 

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How to Create Money Out of Nothing: Great BBC Video Explains All

How to Create Money Out of Nothing: Great BBC Video Explains All | The Debtquake Monitor | Scoop.it

The Bank of England injects more money into the economy via quantitative easing, but what exactly is "QE"?

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World Bank warns on US debt crisis

World Bank warns on US debt crisis | The Debtquake Monitor | Scoop.it
World Bank President, Jim Yong Kim, warns the US is just "days away from a very dangerous moment" because of the crisis over the borrowing limit.
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Stocks face 'prolonged uncertainty' after Italy vote

Stocks face 'prolonged uncertainty' after Italy vote | The Debtquake Monitor | Scoop.it
Stock markets are likely to be gripped by “a prolonged period of uncertainty” in the wake of the Italian election, analysts said as shares markets around the world fell sharply.
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BoE Deputy says negative interest rate 'should be considered'

BoE Deputy says negative interest rate 'should be considered' | The Debtquake Monitor | Scoop.it
Bank of England deputy governor Paul Tucker says the "extraordinary" move of introducing negative interest rates should be considered.
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U.S. Debt Gridlock Is Top World Economy Risk

U.S. Debt Gridlock Is Top World Economy Risk | The Debtquake Monitor | Scoop.it
U.S. debt gridlock is the biggest risk facing the global economy even after the U.S. avoided the so-called fiscal cliff when Congress reached an agreement on the budget in early January.
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It's becoming a high stakes game! Europe's leaders threaten Greek default if banks won't take haircut and accept losses of £120bn

It's becoming a high stakes game! Europe's leaders threaten Greek default if banks won't take haircut and accept losses of £120bn | The Debtquake Monitor | Scoop.it

Europe's leaders are threatening to trigger a formal default on Greek debt and risk a “credit event” if banks refuse to accept losses of up to €140bn (£120bn) on their holdings.

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US States Face Over $4 Trillion Total Debt

US States Face Over $4 Trillion Total Debt | The Debtquake Monitor | Scoop.it

The total of U.S. state debt, including pension liabilities, could surpass $4 trillion, with California owing the most and Vermont owing the least, a new analysis says. The housing bust, financial crisis and economic recession caused states' tax revenue to plunge, and huge holes have emerged in their budgets over the last few years. Because all states except Vermont must end their fiscal years with balanced budgets, states have scrambled to cut spending, hike taxes, borrow and turn to the federal government for help.

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The Dragon's long tail risk: the cost of a 'what if China crashed' doomday scenario

The Dragon's long tail risk: the cost of a 'what if China crashed' doomday scenario | The Debtquake Monitor | Scoop.it

(Reuters) - The China hard-landing debate is a classic tail risk story -- an unlikely scenario, but if it materializes the consequences could be catastrophic.Because of their close trade links, Malaysia,...

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The true size of US debt explained in everyday terms

The true size of US debt explained in everyday terms | The Debtquake Monitor | Scoop.it

Simple, efficient and scary.

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£250,000 Cash prize for euro break-up plan

£250,000 Cash prize for euro break-up plan | The Debtquake Monitor | Scoop.it

Lord Wolfson, the chief executive of Next, offers a £250,000 prize for the best answer to how to manage one or more countries leaving the euro. Here's an idea... Stop. Reset. Go

 

- A simultaneous global debt cancellation programme

 

- Dollar to be replaced by global reserve currency backed by a basket of hard assets

 

- Nationalise all banks

 

And while there at it agree global demilitarisation, implement all climate agreements and establish a common energy policy and resolve border disputes.

 

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Belarus central bank sells off its office furniture for $10,000 (they need $7 billion bailout, but at least it's a start)

Belarus central bank sells off its office furniture for $10,000 (they need $7 billion bailout, but at least it's a start) | The Debtquake Monitor | Scoop.it

As an exercise in monetary policy, it's probably not the sort of thing that would be advocated by John Maynard Keynes or Milton Friedman. Amid a disastrous economic crisis, the Belarus central bank has attempted to raise capital by selling off used office equipment and furniture. Five hundred items were put up for sale in an auction that it was hoped would raise around £10,000.

 

Amid a crippling financial crisis, Belarus is seeking a $7bn (£4.4bn) emergency bailout from the International Monetary Fund. The value of its currency has fallen sharply in recent months, while inflation has skyrocketed to over 40%, fuelling discontent with the regime of authoritarian President Alexander Lukashenko.

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The Most Sensible Solution to Fix The Debt Crisis? Give Collapse a Chance

The Most Sensible Solution to Fix The Debt Crisis? Give Collapse a Chance | The Debtquake Monitor | Scoop.it

Bill Bonner gives his assessment of how to fix the financial crisis, by letting it default and collapse. '... every bailout makes the world poorer. Because it’s clearly bad money after good. Greece does not suddenly become a good credit risk just because you lend it more money. And Americans won’t be made richer because the feds offer them more debt at an even cheaper rate!'

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Those pesky kids! 'Occupy George' protesters deface dollar notes ... but then the Fed has been doing that for decades!

Those pesky kids! 'Occupy George' protesters deface dollar notes ... but then the Fed has been doing that for decades! | The Debtquake Monitor | Scoop.it

Occupy’ protesters have come up with a novel approach to demonstrate against corporate greed by adding figure infographics to dollar bills - legally!

 

“Defacement of currency is a violation of Title 18, Section 333 of the United States Code. Under this provision, currency defacement is generally defined as follows:

 

Whoever mutilates, cuts, disfigures, perforates, unites or cements together, or does any other thing to any bank bill, draft, note, or other evidence of debt issued by any national banking association, Federal Reserve Bank, or Federal Reserve System, with intent to render such item(s) unfit to be reissued, shall be fined not more than $100 or imprisoned not more than six months, or both.”

 

So looks like the protestors are ok as the relevant serial numbers are left intact and the bills are still legal tender ... but what about the Federal Reserve itself? Surely Bernanke and his predecessors going back to 1971's Nixon Shock have a case to answer for. If fiat currency isn't the ultimate debasement of money, what is?

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