How do you decide whether you are wealthy or not? Do you determine that by how much money you spend at the stores? Of course not.
Imagine if the US government, with no notice or warning, raided a small but popular magazine's offices over a Thanksgiving weekend, seized the company's printing presses, and told the world that the magazine was a criminal enterprise with a giant banner on their building. Then imagine that it never arrested anyone, never let a trial…
What follows is a shockingly revealing interview conducted by James J. Puplava CFP, President and Chief Investment Strategist at PFS Group in San Diego. On his radio show, Financial Sense Newshour, he speaks with broker Ann Barnhardt, who pillories Jon Corzine for his unprecedented theft of MF Global investor accounts. She claims, and rightly so,…
banks will simply bleed to death due to daily variation margins demanding more and more and more cash each and every day as spreads blow out wider.
“There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as the result of voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved.”
virtually unlimited leverage via the shadow banking system, in which there are practically no hard assets backing the infinite layers of debt created above, and which when finally unwound, will create a cataclysmic collapse of all financial institutions, where every bank is daisy-chained to each other courtesy of multiple layers of “hypothecation, and re-hypothecation.”
A legal loophole in international brokerage regulations means that few, if any, clients of MF Global are likely to get their money back. Although details of the drama are still unfolding, it appears that MF Global and some of its Wall Street counterparts have been actively and aggressively circumventing U.S. securities rules at the expense…
On July 30, 2011, Doug Casey spoke on the topic of “Is This the End of Western Civilization?” at the Capitalism & Morality Seminar in Vancouver Canada http://www.caseyresearch.com/
The Peter Schiff Show – 12/7/2011
Paul lays out the case for Jewish freedom.