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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Real reason for electricity blackouts hitting southern US

Real reason for electricity blackouts hitting southern US

“Large oil companies have for a decade artificially shorted the gasoline market to drive up prices,” said FTCR president Jamie Court. “Oil companies know they can make more money by making less gasoline.” The following article was written by Paul Joseph Watson. He is t

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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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FDIC wants your retirement cash to save banks: Bloomberg

FDIC wants your retirement cash to save banks: Bloomberg

“The FDIC is constantly looking at structures where we can get the greatest opportunity to tap into capital that we have not had the success reaching through previous disposition methods,” FDIC spokeswoman Michele Heller said in an e-mailed statement. “We welcome and work

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Content By: The Coming Depression Editorial Staff (dates cited below)
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dollar oil

The fact of the matter is that funding for global trade are supplied mainly by the holder of currency reserves in the world deficits. The United States is stuck and if a devaluation of the dollar ocurs, the global trading system is grinding down. There are people willing and able to accelerate this process, so that the world is and will be facing a contraction of trade, resulting in slower growth, a difference of world production and rising unemployment worldwide – unless another solution can be achieved.

To illustrated the severity of this problem, at night, the locals of a oceanic sea trading nation say it looks like a city all lit up off shore. The ships are out there to keep the truth hidden from the people of just how bad the world economy really is. They are anchored out in the ocean, empty, and the holiday season is upon us. These are ships that would normally be delivering goods around the world during this time of year. We are being lied to (as usual) about the severity of the economic crisis–it’s far, far worse than what we are being told.

The system seems to be broken. If so, close the hatches. Big storm. Here is the article referred above:


Commercial shipping in crisis as thousands of ships wait, anchored off the coast of Singapore
As East-West trade collapsed, thousands of ships have been left idle, rusting away. Shipyards are also in a crisis.

Thousands of “ghost” ships are anchored a few miles east of the port of Singapore. They have neither cargo nor crew, rolling idly, proof that exports are down and the worldwide recession is not yet over, ready to sail when trade does start up again as many hope.

Only a few men are on board for the upkeep of the vessels and prevent accidents or stop pirates from seizing them. They are container ships, bulk carriers, oil tanker, a fleet the size of the entire British and American navies combined but with far greater tonnage and horizons. Used to go back and forth between China, Europe and the United States, these ships are now idle.

Many are container ships, especially taking Chinese goods to the world. However, the Asian juggernaut has had its exports slashed by 17.5 per cent and has had to cut its imports by 43.1 per cent (January 2008-January 2009).

Local fishermen say that every day new ships drop anchor. Some stay only for a few weeks, but most just stay put.

Original article appears on AsiaNews.It


Comments

In all cases where governments incease the money supply, inflation occurs at the same rate. The Fed increases the money supply because of inflation. A USD inflated will reduce debt to fixed rate. The Fed has no alternative because the debt is too massive and banks are to blame. Precious metals are up in anticipation of the inflation, or at least preserve the wealth that the dollar is devalued. This leads to the conclusion of the precious metals will increase stratospheric considering the enormous profits he saw even before inflation is detected. An inflationary environment is likely for years to come.


US facing massive economic ‘power shift’ with dollar’s downward spiral
By Agence France-Presse Sunday, October 11th, 2009 — 5:00 pm

The dollar’s position as the world’s leading reserve currency faces increased pressure as the financial crisis allows emerging economies greater influence on the world stage, analysts said.

A report last week in The Independent claiming that China, Russia and Gulf States are among nations prepared to ditch the dollar for oil trades has heightened the uncertainty surrounding the US currency’s future.

The dollar slumped against rivals last week in the wake of the British daily’s controversial report.

“The US dollar is being hurt by the continued talk of a shift away from a dollar-centric world,” said Kit Juckes, an analyst at currency traders ECU Group.

“Three conclusions stand out very clearly. Firstly, the shift in economic power away from the G7 economies is continuing. “Secondly, there is a growing acceptance amongst those winners that one consequence of this power shift will be to strengthen their currencies.

“And finally, as long as the US economy is not strong enough for any rise in interest rates to be conceivable for a long time, the dollar’s underlying downtrend will remain in place,” added Juckes.

The Independent, under the front-page headline “The Demise of the Dollar”, reported last Tuesday that Gulf states, together with China, Russia, Japan and France, were considering replacing the dollar as the currency for oil deals.

“In the most profound financial change in recent Middle East history, Gulf Arabs are planning — along with China, Russia, Japan and France — to end dollar dealings for oil,” wrote The Independent’s Middle East correspondent Robert Fisk.

They would switch “to a basket of currencies including the Japanese yen and Chinese yuan, the euro, gold and a new, unified currency planned for nations in the Gulf Co-operation Council, including Saudi Arabia, Abu Dhabi, Kuwait and Qatar,” added Fisk, citing Gulf Arab and Chinese banking sources.

Original article appears on Yahoo News

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