Source: SchiffGold.com
As the old saying goes, if it looks like a duck, walks like a duck, and quacks like a duck, it’s probably a duck.
Well, if it looks like a bailout, walks like a bailout, and talks like a bailout, it’s probably a bailout.
As Banking Collapses Erode Trust, Bitcoin Fixes Moral Hazard – Mickey Koss 3/13/23
Source: BitcoinMagazine.com
As unrealized losses piled up, Silicon Valley Bank (SVB) gradually, then suddenly became insolvent, followed by the collapse of Signature Bank and people beginning to wake up to issues pervading our financial system. Modern day bank runs, though digital, can force banks to sell reserve assets at a loss, inevitably leading to insolvency.
Peter Schiff: The 2023 Financial Crisis Has Begun! – SchiffGold 3/14/23
Source: SchiffGold.com
As we start to sort through the fallout of the failure of Silicon Valley Bank and Signature Bank and the government’s reaction to it, the next question is: what’s next?
Government officials and mainstream pundits insist everything is fine now. They say quick government action averted a crisis. But in his podcast, Peter Schiff said this is really just the beginning of the next financial crisis.
Continue reading “Peter Schiff: The 2023 Financial Crisis Has Begun! – SchiffGold 3/14/23”
Silicon Valley Bank’s Demise Began with Downgrade Threat – Reuters 3/11/23
Source: Reuters.com
In the middle of last week, Moody’s Investors Service Inc delivered alarming news to SVB Financial Group (SIVB.O), the parent of Silicon Valley Bank: the ratings firm was preparing to downgrade the bank’s credit.
Continue reading “Silicon Valley Bank’s Demise Began with Downgrade Threat – Reuters 3/11/23”
Country Music Singer John Rich Creates Freedom Bank with Dr. Ben Carson and Larry Elder; Will “Never Cancel Law-Abiding Customers” – ReclaimTheNet 3/9/23
Source: ReclaimTheNet.org
Retired neurosurgeon Ben Carson, country music singer John Rich, and conservative commentator Larry Elder have bought a bank that they say will promote American values and protect customers from the cancel culture and de-platforming that has been seen in recent times.
Singapore’s Central Bank MAS Boosts Gold Reserves to Nearly 200 Tonnes – BullionStar 3/8/23
Source: bullionstar.us
In January 2023, Singapore’s central bank, the Monetary Authority of Singapore (MAS) returned to gold buying again, adding a massive 44.6 tonnes of gold to its official reserves, and thereby boosting Singapore’s gold holdings from 153.8 tonnes to 198.4 tonnes.
In percentage terms, this gold buying represents an incredible 29% increase in Singapore’s gold holdings in just one month. In fact, this is Singapore’s second largest largest gold purchase ever in one month, the only gold purchase that was larger was when Singapore first bought 100 tonnes of gold from South Africa in 1968….
Nigerians Not Eager to Embrace Central Bank Digital Currency – SchiffGold 3/7/23
Source: SchiffGold.com
Violent protests in Nigeria reveal that getting average people to embrace central bank digital currencies (CBDCs) might be more difficult than government officials would like.
Nigerians recently took to the streets to protest a cash shortage caused by government policies adopted in order to push the country into the adoption of its central bank digital currency (CBDC).
Continue reading “Nigerians Not Eager to Embrace Central Bank Digital Currency – SchiffGold 3/7/23”
Missouri Senate Votes to End Income Taxes on Gold and Silver, Hold Monetary Metals in Reserve – Mises 2/13/23
Source: Mises.org
The Missouri Senate today passed legislation that would prompt the state treasurer to hold at least 1% of state funds in gold and silver while eliminating all state income taxes on monetary metals.
In a growing national backlash to the rampant inflation caused by massive federal spending, debt, and central bank money printing, more than a dozen states are already moving forward on sound money bills during their 2023 legislative sessions.
“Say Hello To Snow White”: Ex-JPMorgan Exec Emailed Jeffrey Epstein About Disney Princesses – ZeroHedge 2/16/23
Source: ZeroHedge.com
Former JPMorgan exec Jes Staley discussed Disney princesses with Jeffrey Epstein in a July 2010 email exchange, according to several emails cited in a lawsuit filed against the bank by the US Virgin Islands, Bloomberg reports.
JPMorgan Inks Agreement With Zelensky on Rebuilding Ukraine’s Infrastructure, Seeds $20BN+ – ZeroHedge 2/14/23
Source: ZeroHedge.com
Despite some US officials such as CENTCOM chief Gen. Mark Milley last year saying they expect the war in Ukraine likely to be protracted in “years”, not months, which as the conflict is about to enter its 2nd year is proving accurate enough thus far, major banks are already lining up to fund Ukraine’s rebuilding efforts, which is going to be vast and extraordinarily costly – and in reality could take decades.
Last week, Ukrainian President Volodymyr Zelenskiy met with bankers from JPMorgan Chase & Co as part of broader talks focused on both reconstructing the war-ravaged country and enduring the extreme financial tumult of the war.
Bank Of America Will Start Bundling EV Charging Stations With EV Auto Financing – ZeroHedge 2/10/23
Source: ZeroHedge.com
Oh good, more debt.
As if we didn’t have enough of a looming problem in the world of automobile loans, Bank of America is now starting a new trend: tucking more items into their auto loans. In this case, they are starting to bundle at-home electric-vehicle chargers as part of their auto loans, according to a new report from Bloomberg this week.
Operation Choke Point 2.0 Is Underway, And Crypto Is In Its Crosshairs – NicCarter 2/9/23
Source: PirateWires.com
The Biden Administration is quietly trying to ban crypto. Nic Carter explains in an explosive guest post for Pirate Wires.
-Solana
What began as a trickle is now a flood: the US government is using the banking sector to organize a sophisticated, widespread crackdown against the crypto industry. And the administration’s efforts are no secret: they’re expressed plainly in memos, regulatory guidance, and blog posts. However, the breadth of this plan — spanning virtually every financial regulator — as well as its highly coordinated nature, has even the most steely-eyed crypto veterans nervous that crypto businesses might end up completely unbanked, stablecoins may be stranded and unable to manage flows in and out of crypto, and exchanges might be shut off from the banking system entirely. Let’s dig in.
The End of Monetary Hedonism – Jeff Deist 1/31/23
Source: Mises.org
Does cheap money and credit make us richer? Does more money and credit create more stuff, or better stuff? Do they make us happier and more productive? Or do these twin forces actually distort the economy, misallocate resources, and degrade us as people?
These are fundamental questions in an age of monetary hedonism. It is time we began to ask and answer them. Millions of people across the West increasingly recognize the limits of monetary policy, understanding that more money and credit in society do not magically create more goods and services. Production precedes consumption. Capital accumulation is made possible only through profit, which is generated by higher productivity, thanks to earlier capital investment. At the heart of all of it is hard work and human ingenuity. We don’t get rich by legislative edict.
Continue reading “The End of Monetary Hedonism – Jeff Deist 1/31/23”
Iran, Russia Link Banking Systems Amid Western Sanction – LBCGroup 1/30/23
Source: LBCGroup.tv
Iran and Russia have connected their interbank communication and transfer systems to help boost trade and financial transactions, a senior Iranian official said on Monday, as both Tehran and Moscow are chafing under Western sanctions.
Continue reading “Iran, Russia Link Banking Systems Amid Western Sanction – LBCGroup 1/30/23”
Central Banks Add More Gold in November as China Joins Buying Spree – SchiffGold 1/8/23
Source: SchiffGold.com
Central banks globally added another net 50 tons of gold to their reserves in November, driven in part by the first official purchase by China since 2019.
Gold in 2023 – Alasdair Macleod 12/30/22
Source: GoldMoney.com
This article is in two parts. In Part 1 it looks at how prospects for gold should be viewed from a monetary and economic perspective, pointing out that it is gold whose purchasing power is stable, and that of fiat currencies which is not. Consequently, analysts who see gold as an investment producing a return in national currencies have made a fundamental error which will not be repeated in this article.
The Dangers of Paper Bitcoin – BitcoinMagazine 12/19/22
Source: BitcoinMagazine.com
The potential of losing your funds isn’t the only reason to secure your own bitcoin. It also ensures the price cannot be manipulated.
Are you keeping bitcoin on an exchange?
Let me tell you a story about what happens when you, and others, leave your bitcoin on exchanges. You might be surprised to hear what that means for your holdings. It might sound a lot like your own.
Continue reading “The Dangers of Paper Bitcoin – BitcoinMagazine 12/19/22”
The Forgotten Fourth Function of Money & G-SIBs – JamesTurk 12/20/22
Source: LewRockwell.com
Money is routinely defined by what it does, rather than what it is. That is unfortunate because its modern definition overlooks money’s important – but now forgotten – fourth function.
Aristotle observed that money is a medium of exchange, unit of account, and store of value. This definition omits the fourth function needed to explain money and currency in our modern economy.
Continue reading “The Forgotten Fourth Function of Money & G-SIBs – JamesTurk 12/20/22”
The Debate Between Gold and Bitcoin in 2023 – AlasdairMacleod 12/8/22
Source: GoldMoney.com
The FTX scandal has thrown the future of cryptocurrencies into doubt. Supporters of bitcoin, which has proved to be remarkably robust at a time when the whole cryptocurrency ecosystem is threatened by scandal and a systemic collapse, are still asserting that it is the future money.
This article addresses a number of issues that next year will make or break bitcoin’s claim over gold. Besides the interest of governments to prevent it having any monetary role, hodlers ignore the legal status of gold as money, and the different treatment likely to be accorded to bitcoin in criminal law. Furthermore, bulls of bitcoin are mainly only that: speculators hoping for a profit measured in their fiat currencies.
Continue reading “The Debate Between Gold and Bitcoin in 2023 – AlasdairMacleod 12/8/22”
Nigeria Limits ATM Withdrawals To $45 Per Day To Force Govt-Controlled Digital Payments – ZeroHedge 12/8/22
Source: ZeroHedge.com
A staggering number of Nigerians love Bitcoin, but hate government cryptocurrency (CBDCs).
In April, leading cryptocurrency exchange KuCoin noted that 35% of the adult population in Nigeria – roughly 34 million adults aged 18-60, own bitcoin or other cryptocurrencies. But when it came to the country’s Central Bank Digital Currency (CBDC), the eNaira, it was a massive failure.
The Lost World of the Barbarous Relic – GeorgeF.Smith 12/3/22
Source: LewRockwell.com
It’s one of the greatest ironies of history that gold detractors refer to the metal as the barbarous relic, when in fact the abandonment of gold has put civilization as we know it at risk of extinction.
Continue reading “The Lost World of the Barbarous Relic – GeorgeF.Smith 12/3/22”
New York Fed Announces Test of Digital Dollar with Major Banks – WashingtonExaminer 11/15/22
Source: WashingtonExaminer.com
The Federal Reserve Bank of New York and major banks will launch a three-month test of a digital dollar in hopes of studying its feasibility.
The initiative was announced by the regional Federal Reserve bank and nearly a dozen financial institutions on Tuesday. A news release referred to the experiment as a “proof-of-concept project” in which the banks will work with the Fed’s New York Innovation Center to simulate digital money representing the deposits of their own customers and settle them through simulated Fed reserves on a distributed ledger….
Legal Definitions of Money and Credit – AlasdairMacleod 11/10/22
Source: GoldMoney.com
At these times of growing confusion over the future of currencies’ purchasing power, it is time to remove all doubt in the definitions of the differences between money, currency, and credit. This article traces the history and legal background to these relationships.
Despite the failure of the Bretton Woods agreement in 1971 and the state propaganda that followed, the position is clear. Both historically and legally money is and remains metallic coin — principally gold — and the rest is credit.
Continue reading “Legal Definitions of Money and Credit – AlasdairMacleod 11/10/22”
$2.5 Quadrillion Disaster Waiting to Happen – USAWatchdog 11/1/22
Source: usawatchdog.com
Egon von Greyerz (EvG) stores gold for clients at the biggest private gold vault in the world buried deep in the Swiss Alps. EvG is a financial and precious metals expert. EvG is a former Swiss banker and an expert in risk. He says the risk in the global markets has never been this high.
Continue reading “$2.5 Quadrillion Disaster Waiting to Happen – USAWatchdog 11/1/22”
The Real Estate Bubble Is Losing Air and a Financial Crisis Is Coming – PeterSchiff 11/2/22
Source: SchiffGold.com
Artificially low interest rates blew up a big housing bubble. In a podcast, Peter Schiff explained that it is actually a bigger bubble than the one preceding the 2008 crash. But this time, it is combined with an overall bubble in the entire economy that dwarfs ’08. Peter said all of this has the makings of another massive financial crisis.
When the Sucker’s Rally Ends, the Dollar Will Crash – PeterSchiff 10/24/22
Source: SchiffGold.com
The world loves dollars. Whenever there is a problem, people flock to the dollar as a safe haven. But the US has problems of its own. In a podcast, Peter Schiff said America’s problems will eventually catch up to the dollar and at that point, the greenback will crash.
Continue reading “When the Sucker’s Rally Ends, the Dollar Will Crash – PeterSchiff 10/24/22”
How an Illiquid Dollar Ruins the World – MatthewPiepenburg 10/19/22
Source: GoldSwitzerland.com
One can’t emphasize enough how dangerous the current macro setting is in the wake of a deliberately strong and illiquid Dollar.
Biden, of course, says not to worry. We say otherwise.
Continue reading “How an Illiquid Dollar Ruins the World – MatthewPiepenburg 10/19/22”
The Dark Origins of the Davos Great Reset – F.WilliamEngdahl – 10/22/22
Source: WilliamEngdahl.com
Important to understand is that there is not one single new or original idea in Klaus Schwab’s so-called Great Reset agenda for the world. Nor is his Fourth Industrial Revolution agenda his or his claim to having invented the notion of Stakeholder Capitalism a product of Schwab. Klaus Schwab is little more than a slick PR agent for a global technocratic agenda, a corporatist unity of corporate power with government, including the UN, an agenda whose origins go back to the beginning of the 1970s, and even earlier. The Davos Great reset is merely an updated blueprint for a global dystopian dictatorship under UN control that has been decades in development. The key actors were David Rockefeller and his protégé, Maurice Strong.
Continue reading “The Dark Origins of the Davos Great Reset – F.WilliamEngdahl – 10/22/22”
The Man who invented Climate Change and influenced Schwab’s Great Reset Agenda – TheExpose 10/23/22
Source: expose-news.com
According to such Great Reset luminaries as Bill Gates, Prince Charles, Michael Bloomberg, Mark Carney and Klaus Schwab, humanity is expected to solve the dual threat of Covid and global warming in one revolutionary sweeping reform.
Ben Bernanke And Two Others Win Nobel Prize In Economics For Crisis Research – ZeroHedge 10/10/22
Source: ZeroHedge.com
The Nobel Memorial Prize in Economic Sciences was awarded to former Federal Reserve Chair Ben Bernanke and two others for their research in the 1980s on banks and financial crises.
Bernanke served as chairman of the Fed between 2006-14 and famously unleashed a tidal wave of debt monetization by the central bank during the GFC over a decade ago to save the so-called ‘too big to fail’ banks. At the time, the Fed’s balance sheet was approaching $2.5 trillion. Multiple rounds of money printing later and a massive expansion during the Covid crisis, the balance sheet stands at around $9 trillion today.
The Bank of England Rings the Mother of All Bells – PeterSchiff 10/4/22
Source: SchiffGold.com
Last week, the Bank of England suddenly pivoted. It gave up its inflation fight to rescue its pension funds and bond market. What exactly happened? And what does it tell us about the Federal Reserve’s inflation fight? Peter Schiff explained it all on his podcast.
Continue reading “The Bank of England Rings the Mother of All Bells – PeterSchiff 10/4/22”
The Student Loan Crisis: Economic Boom-Bust in a Microcosm – SchiffGold 9/27/22
Source: SchiffGold.com
The student loan forgiveness program recently announced by President Joe Biden stirred up quite the political brouhaha. Progressives praised Biden for helping students burdened by overwhelming student loan debt. Conservatives decried it as an unfair giveaway. But as with most issues, the popular political debate misses the bigger picture.
Continue reading “The Student Loan Crisis: Economic Boom-Bust in a Microcosm – SchiffGold 9/27/22”
The Digital Dollar Will Not Be Anonymous, Federal Reserve Chair Jerome Powell Says – ReclaimTheNet 9/27/22
Source: ReclaimTheNet.org
Despite privacy being one of the main concerns citizens have about central bank digital currencies (CBDCs), the heads of the United States (US) Federal Reserve and European Central Bank (ECB) have confirmed that their respective CBDCs will not be anonymous.
Bank of America’s Anti-White Bigotry – SteveCortes 9/1/22
Source: SteveCortes.substack.com
A company with a name like Bank of America which employs a patriotic, US flag-themed corporate logo, might be expected to champion American values?
Instead, this financial giant uses its vast power to actively and overtly discriminate against white Americans. BofA just started a new generous mortgage program for black and Hispanic borrowers, announced proudly by NBC News: “Bank of America Announces Zero Down Payment, Zero Closing Cost Mortgages for Black and Hispanic First Time Homebuyers.”
Continue reading “Bank of America’s Anti-White Bigotry – SteveCortes 9/1/22”
A Developing Evil: The Malignant Historical Force Behind the Great Reset – Paul Cudenec 8/2/22
Source: winteroak.org.uk
[This is the text of a talk I gave at the “Three Days Against Techno-Sciences” gathering near Alessandria, Italy, on Saturday July 30, 2022. Many thanks to the organisers and fellow participants for the warm welcome and the stimulating exchanges. A post-recorded audio version can be found here.]
The so-called Great Reset is nothing but the extension and violent acceleration of a longstanding process.
Over the decades, I have often despaired at the general apathy of my fellow citizens in the face of the dark forces which I could clearly see – and feel – gathering.
Australia’s Central Bank Working With BIS To Launch Digital Currency System – ZeroHedge 8/9/22
Source: Zerohedge.com
Australia’s Reserve Bank is launching a pilot program over the course of the next year in collaboration with the Bank for International Settlements (the central bank of central banks) to test the “benefits” of a blockchain ledger based digital currency system. The central bank is added to a long list of participants in BIS efforts to introduce CBDCs (central bank digital currencies) with the target goal of launching them globally by 2025-2030.