To anyone who understands what is taking place in global markets, it is certainly not “news” in writing a commentary that U.S. Treasuries will collapse in price – due to massive over-supply. This collapse is inevitable for a series of reasons, even with the U.S. government “buying” its own bonds (i.e. printing money to pay its bills).The “over-supply” of U.S.
In a further sign that China is preparing to make the “renminbi” the world's new “reserve currency”, China announced today that it had increased its gold reserves by 76% - since it last reported its reserves (in December 2002). That increase brings China's official gold reserves to 1,054 tons – placing it 5th in world rankings.The U.S.
Demolition of Abandoned U.S. homes has already begun
For nearly a year now, I have preached a consistent formula for putting a (real) “bottom” in the U.S. housing collapse – a meltdown which is already far worse than the (first) “Great Depression”.U.S. homeowners require across-the-board mortgage relief, to restore solvency to most U.S. homeowners (i.e.
China Mobile starts to push 3G strategy & partnerships, good news for Dell ?
Nobel Prize-winner scoffs at U.S. economic policies
A Bloomberg article (which quickly disappeared from their headlines) quotes Joseph Stiglitz, who won a Nobel Prize in economics, as condemning virtually every policy initiative of the Obama regime – and predicts every one will end in dismal failure.Stiglitz is one of the few commentators (outside the precious metals sector) who was not shocked when the U.S.
Bank of America became the latest U.S. fraud-factory to report a fictional “profit” for the first quarter. However, as equity markets plunge today, we may finally be seeing signs of the market “sheep” actually beginning to think for themselves.Despite its illusory “profit”, shares in Bank of America are lower today.
Canada and Australia to 'shine' in '09... (or 2010 at the latest)
n a clear rebuke to bankster-puppet, Tim-the-tax-cheat Geithner, the TARP Congressional Oversight Panel issued a report on Tuesday which suggested several HUGE changes from the current policy of simply handing-out blank-cheques.
In a Bloomberg article, the head of the panel, Harvard Law Professor Elizabeth Warren made the following observations:
There have not been many pleasant developments since U.S. banksters dragged the global economy down with them. However, we got a glimmer of one positive development today – with a Reuters article indicating that the U.S. Defense Department will be forced to reduce and cancel programs.