US, world headed for 25 year depression: Jim Rickards

US, world headed for 25 year depression: Jim Rickards

“When I use the phrase 25 year depression, it sounds extreme but it’s not. We had a 30 year depression in the United States from about 1870 to 1900…The Great Depression lasted from about 1929 to 1940. The U.S. is in a depression today.” Well, it's been in the works for

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Canadian banking haven myth exposed

Canadian banking haven myth exposed

"One of the reasons that Canadians (and international commentators, other finance ministers and global financial institutions) buy this Canadian banking fairy tale is the way the government accounts for the money borrowed to support the banks." The sorry spectacle of Conservat

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Get rid of your mortgage, loans, because interest rates set to rise

Get rid of your mortgage, loans, because interest rates set to rise

Get rid of your loans, guys and gals, because we are going into a high interest rate period. Very high. It will be the equivalent of going into the double digit interest rates we had in the 80s where many people threw their house keys at the bank and we had record numbers of ba

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E-cigarettes save lives, money

E-cigarettes save lives, money

"We know that cigarettes have thousands of chemicals in them and we know that they are killing us. They have been for over a hundred years. So now, the e-cig industry comes along with only one or two chemicals in their mixture and people are freaking out over these as well. Whe

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US inches closer to big bank charges

US inches closer to big bank charges

Federal prosecutors are nearing criminal charges against some of the world’s biggest banks, according to lawyers briefed on the matter, a development that could produce the first guilty plea from a major bank in more than two decades. In doing so, prosecutors are confronting

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Canada’s home sales top predictions; why a real estate crash is inevitable

Canada’s home sales top predictions; why a real estate crash is inevitable

“The assurance of relatively low borrowing costs has likely given home buyers confidence while rising home values have kept new listings at a healthy level. Stable employment has provided some assurance to owners and buyers alike.” Our website is back after many months of

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Comparing today’s recession/depression to the 1980 recession

Comparing today's recession/depression to the 1980 recession

"Much like today, Americans were concerned not only with high unemployment but increasing budget deficits in the early 1980s. A September 1983 Gallup poll found that three-fourths of the public agreed that the federal government's budget deficit was a great threat (42%) or some

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Why savers are getting screwed

Why savers are getting screwed

"Without the intervention of economic policymakers, interest rates would be naturally higher. That would increase the cost of borrowing for businesses and consumers, but there would be some offsetting economic benefits. Savers are getting screwed by the current monetary policy

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Geithner admits USA bankrupt to US Senate

Geithner admits USA bankrupt to US Senate

"Never in our history has Congress failed to increase the debt limit when necessary. Failure to raise the limit would precipitate a default by the United States. Default would effectively impose a significant and long-lasting tax on all Americans and all American businesses

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World economies on verge of currency revaluations to deal with debt

World economies on verge of currency revaluations to deal with debt

"It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning." -- Henry Ford Basically what the world central banks are doing is increasing their money by devaluin

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Is Obama the next Mugabe of Zimbabwe?

Is Obama the next Mugabe of Zimbabwe?

"America, Britain, Japan, Germany, France, Sweden, Holland, Norway, Canada and Australia make up the Fishmongers Group and their meeting on Tuesday will deliberate on the state of the inclusive government, debt relief, public finance administration and the controversial economi

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US raiding foreign countries with dollars, not soldiers

US raiding foreign countries with dollars, not soldiers

""The United States is going to China and saying: we want you to commit economic suicide, just like Japan did. We want you to follow the same thing: we want you to revalue your currency, we want you to squeeze your companies, we want you to go bankrupt,” says Michael Hudson,

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fisher

REUTERS – The Federal Reserve should start raising U.S. interest rates in the spring, earlier than many investors currently expect, and should do so both slowly and gradually, a top Fed official said on Friday. “I personally would want to see, the date of our first move, I personally expect it to occur in the [...]

(1 votes, average: 5.00 out of 5)
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bric imf

A developmental bank controlled and funded by the “emerging nations” is a good idea. It is always better to have varying interests competing with each other. The “western nation dominated” world organizations like the IMF and World Bank have a set of rules, based upon the interests of the funding nations, required to provide development [...]

(1 votes, average: 5.00 out of 5)
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lemmings

The world stopped listening to anything ‘Citigroup’ said when we all realized they were the worst predator subprime lender of all the toxic waste dump banks the world has ever witnessed. Citigroup is one of the too-big-to-fail banks that literally dumped their losses onto the populations of the West through the TARP ripoff and the [...]

(1 votes, average: 5.00 out of 5)
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hu sugar daddy usa

China and other countries that now hold about 50 percent of all U.S. Treasury securities could start dumping them, further pushing up interest rates and swelling the national debt. It would be a vicious cycle of higher and higher interest rates and more and more debt. The United States has never defaulted on its debt [...]

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the banker movie

“(CorbettReport) – April 17th, 2011 – The mainstream finally gets around to asking why no banksters have been jailed for the 2008 meltdown; the G20 moves on its aim of establishing a world financial order; and the puppets-in-chief admit it’s all about regime change in Libya.” In year 2008, the banks were on the verge [...]

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america split up

“I still don’t see a sense of urgency from the president about the massive federal debt,” said Sen. Lamar Alexander, Tennessee Republican. “His budget calls for too much government borrowing – even though the debt is already at a level that makes it harder to create private-sector jobs.” — Washington Times President Obama projects that [...]

(1 votes, average: 5.00 out of 5)
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cash toilet

“The Monetary Theory of the Great Depression is incorrect, however. Consequently, the Fed’s Quantitative Easing policy is more likely to exacerbate than resolve the global crisis,” Duncan argued in an article. “The Great Depression was caused by the inability of the private sector to repay the debt it incurred during the Roaring Twenties, just as [...]

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chinese_army_parade

“To me, there looks like some sort of tacit global agreement for nations outside of the euro zone to assist in the refunding of nations within the euro zone,” said Andrew Busch, global currency and public policy strategist with Bank of Montreal’s investment arm in Chicago. “Without question. there’s a lot of discussion about this.” [...]

(1 votes, average: 5.00 out of 5)
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geithner bad face

“Never in our history has Congress failed to increase the debt limit when necessary. Failure to raise the limit would precipitate a default by the United States. Default would effectively impose a significant and long-lasting tax on all Americans and all American businesses and could lead to the loss of millions of American jobs. Even [...]

(5 votes, average: 5.00 out of 5)
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bank of international settlements

“The new international rules “will allow market participants to assess the quality of a bank’s compensation practices and the incentives towards risk-taking they support,” said Fernando Vargas.” It’s not the added regulation, it’s the fact that all these banks got bailout using tax payers money that should be the focus. If government did not bail [...]

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zimbabwe hyperinflation

“In the US we don’t have a back up system. Zimbabwe had the worst hyperinflation anyone’s ever seen. But, they survived. They had an ongoing economy. That was because of a black market in US dollars. We don’t have a black market in the US. There’s no backup to our system.” — Mac Slavo, Market [...]

(3 votes, average: 4.00 out of 5)
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federal_reserve_global_tentacles

“We’re talking about huge sums of money going to bail out large foreign banks,” said Senator Bernard Sanders, the Vermont independent who wrote the provision in the Dodd-Frank Act that required the Fed disclosures. “Has the Federal Reserve become the central bank of the world? I think that is a question that needs to be [...]

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nyse stock floor busy insider trading

“Once again, for the very cheap seats, the re-recession predicted by the ECRI, has materialized (at least according to Ben the Bernank) and is being resolved with $900 billion in monetization.” — ZeroHedge’s Tyler Durden The US Empire is toast. FDIC was bankrupt as of mid 2009 and has been getting the ‘unlimited taxpayer bailout’ [...]

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greenspan oops

“If we end up 12 months from now with countries taking protectionist measures, everyone will suffer. I think the absolute imperative for this weekend [at the G20] is a clear demonstration that every member of the G20 recognises that the imbalances are a problem . . . If we don’t do that then I fear the next 12 months [...]

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