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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will program for food

The United Nations says that nearly 212 million people were unemployed in 2009. That is 6.6 per cent of the global workforce. According to a new report the situation in Europe will get worse before the trend improves. The analysis by the United Nations and the ILO are timely, but it would be nice to [...]

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nobody knows who obama is

How many of you fell for Obama’s attempt to silence the outrage coming from all sides of the political spectrum with his Financial Transaction Fee plan??

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sucre alba new currency

“Venezuela’s decision to devalue the Bolivar culminates an event that the market has been anticipating for a long time,” said Walter Molano, an analyst at BCP Securities. “It helps alleviate the country’s fiscal woes and puts it on a sounder macroeconomic footing.” The currency devaluation that Venezula implemented allows them to sustain the nominal value [...]

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stagflation: it's whats for dinner

Howard Davidowitz sees a similarly horrific future [similar to Japan and Zimbabwe] in store for the U.S. He calls America’s current path, rich in deficit spending and weak in currency a “road to nowhere.” Blame is only on the communist/fascist government during the Bush era. He allowed ( implemented) redistribution of real estate loans to [...]

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UK WELFARE STATE

Nearly 12 years of incompetence of this government’s work and the cracks show in the economy of the United Kingdom, but we should lay the blame where it started: Margaret Thatcher! She began the destruction of the manufacturing base of the United Kingdom, deregulation of the financial system, backed by the oil economy of the [...]

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dubai darkening

“The market reaction shows how vulnerable some economies are to the aftermath of the debt binge. This highlights how fragile confidence is.” Gerard Lyons, chief economist. This just shows the disconnect that governments have with their citizens. We are not considered citizens to politicians; we are regarded as consumers. That’s what Barack Obama and Bush’s [...]

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quit smoking burning money

The United States will be forced to act against its trade deficit. The U.S. dollar will collapse. We need to consider the possibility that the USA economy is toast. That is – it has hit a zenith in the past and is now in decline and will NEVER come back. In other words this may [...]

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paul volcker obama meet

“I’ve only attended the bilderberg once, but didn’t attend this year” In the following video clip, ex Federal Reserve chairman Paul Volcker of the 1970s and 1980s admits that he attended these secretive group meetings. Up until the last few years this “bilderberg group” was considered only a “conspiracy theory,” but now that Paul Volcker [...]

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china book

SANTA BARBARA (MarketWatch) — As global economies emerge from recession, policymakers must watch for unsustainable global imbalances driven by high levels of Asian exports and low U.S. savings rates, Federal Reserve Chairman Ben Bernanke said Monday. In a speech prepared for a conference here, Bernanke warned “global imbalances may reassert themselves.” The U.S. must save [...]

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loonie specs

Canada’s loonie hits parity with U.S. dollar Greenback also reached a new record low against the euro By the Associated Press The dollar took another fall on currency markets Thursday, reaching one-to-one parity against the Canadian dollar for the first time in 30 years and falling to a new low against the 13-nation European currency. [...]

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dollar crash

The reason the dollar takes a beating in currency markets is because of the near zero interest rates the Fed has been implementing the past year. Nobody wants to invest in dollars when there is no reward (because of low interest rate returns). The side effect of these low interest rates is that banks can [...]

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consent

There are several methods which government uses to cover up the severity of the downturn, here are a couple before delving into the meat of the article by the blogger at Washington’s blog: I recall a history professor of mine in undergrad saying that the way unemployment was measured in the great depression is different [...]

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ashoka mody

With all of the talk of a collapsing US dollar and the discussions from previously US dollar dependent countries of replacing the reserve currency with another one, perhaps the euro, it makes one wonder whether or not a shooting of this kind was related to his position at the international monetary fund — an organization [...]

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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 [...]

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