Jackass Biden

Obama’s Latest Ponzi Scheme: MyRA

President Obama on Tuesday offered up a new kind of “starter” retirement accounts aimed at employees of companies that don’t offer such plans. Obama is calling them the “MyRA” and said he would, by executive order, direct the Treasury Department to create them. Details were scarce Tuesday night, but employees will be able to contribute…


Marc Faber Warns “Insiders Are Selling Like Crazy… Short US Stocks, Buy Treasuries & Gold”

Beginning by disavowing Mario Gabelli of any belief that rising stock prices help ‘most’ people (“Fed data suggests half the US population has seen a 40% drop in wealth since 2007”), Marc Faber discusses his increasingly imminent fears of the markets in this recent Barron’s interview. Quoting Hussman as a caveat, “The problem with bubbles…

Turkish lira banknotes are seen in this picture illustration taken in Istanbul

Currency War! Turkey Strikes First, Cascade Of Global Rate Hikes Next?

Editor’s Note: Historians may well look back to today’s action in Turkey as the financial ‘shot heard round the world’, and the final death knell for the US Dollar. As you will read below, Turkey’s Central Bank increased its key interest rate from 7.75% to 12.00%, a nearly unheard of 4.25% increase in one fell…

Gold Bar

The Hows and Whys of Gold Price Manipulation

The deregulation of the financial system during the Clinton and George W. Bush regimes had the predictable result: financial concentration and reckless behavior. A handful of banks grew so large that financial authorities declared them “too big to fail.” Removed from market discipline, the banks became wards of the government requiring massive creation of new…

Preparing for Economic Collapse

Six Likely Events That Will Follow an Economic Crash

  Travel Restrictions: This will begin with restrictions on foreign travel, including suspension/removal of passports. (This has begun in a small way in both the EU and US.) Later, travel restrictions will be extended within the boundaries of countries (highway checkpoints, etc.) Confiscation of wealth: The EU has instituted the confiscation of bank accounts, which can…

1929 vs 2014

Has The Stock Market Crash Begun? Dow Off Big As Headwinds Mount

The January Effect supposes that investors will find post-holiday cheer in the first month of the trading year, yet 2014 has brought nothing but frozen misery, as the Dow dropped nearly 2% in its worst trading day in the past several months on Monday. And that may have just been the first shoe to drop. Poor…


Smellin Yellen Confirmed As Next Fed Chair

The U.S. Senate has confirmed Janet Yellen to serve as the next chair of the Federal Reserve, after Ben Bernanke finishes his second term at the end of the month. Senators voted 56 to 26 in her favor, with many missing the vote because of inclement weather. Eleven Republicans broke party ranks, voting to support…


CHART: Warren Buffett Will Fail Berkshire Hathaway Shareholders For The First Time In 44 Years

  By his own metric, Warren Buffett will fall short for the first time since he took over Berkshire Hathaway in 1965. For 43 years, Berkshire has increased its book value (i.e. net worth) faster than the S&P 500 (including dividends) on a rolling five year basis. Bloomberg’s Noah Buhayar calls it the Buffett 5-Year Test, and it’s important to…