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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bank owned foreclosure

“Home buyers looking to buy out of foreclosures will step back from the market. Mortgagors considering strategic default will see less risk in doing so, thus leading to more defaults. Throw in the lawyers and the politicians and it’s a perfect storm of uncertainty, gridlock and wealth destruction. Just what we don’t need right now. [...]

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china owns the usa

“We’re in the midst of an international currency war, a general weakening of currency. This threatens us because it takes away our competitiveness,” he [Brazilian finance minister Guido Mantega] said. The world is in the midst of an “international currency war” according to Brazil’s finance minister as governments force down the value of their currencies [...]

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wallpaper zimbabwe currency

“The result of currency devaluations can be boiled down prosaically: savers get screwed. Remember, it is the Baby Boomers who have the largest accumulation of savings- either in the form of savings accounts, bonds, or home equity- and therefore, the most to lose from a devaluation. ” Contrarian Governments seem to forget that one must [...]

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will program computers for food

“Frugality is the new fashion and likely to stay that way for years,” highlighting a secular shift toward prudence and conservatism because households are traumatized, tapped out, and mindful of a bleak outlook. The few greedy cheaters among us have been a major factor in the creation of the impression of economic growth that led [...]

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rioting in streets

“You’ve got to have someone in the store, and if you’re down to one person in the store, you can’t cut any more.” The question is not whether a low growth of 0.1% a quarter signals the end of the recession or not. It is whether the leaders of major financial companies and automobile industries [...]

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slaughter house us economy

“In commercial real estate and leveraged buyouts, the bloodletting is yet to come,” Soros said in a speech in Europe. These so-called economists — who are no better at predicting economics than weatherman can predict snow falls — call the recession over, but the recession won’t be truly over until people get back to work [...]

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kondratieff Waves

“The cost of money just got a lot more expensive for everyone.” — Citizens Bank commentary Now, just as Bear Stearns was a harbinger of a string of failures of overly leveraged investment banks, the concern is that Dubai could be the canary in the coal mine for heavily indebted countries. The debts of everyone, [...]

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handful of loonies

“We’ll start paying it down once we’re back in surplus,” Flaherty said. There is a pool of money untapped by government: the practice of undeclared barter. When an individual says to you “That will cost so much if you pay by cheque but 20% less if you pay cash you know that the cash payment [...]

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environmental gore

It’s now official. Much of the hype about global warming is nothing but a complete scam. What effect will this have, if it breaks out into the main stream media, on the carbon credit, trading system, and general economy (especially the commodities futures and trading) to which massive amounts of land have been confiscated in [...]

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banker is overwhelmed

This “idea” that an economy must be based on debt and “lent money at interest” is absurd. A monetary system would work well with usury outlawed. In this scenerio, it operate exactly like the stock market: when a lender makes a loan to a borrower to the lender gets some “stock” in the profits that [...]

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bank run indymac

“The International Forecaster, Bob Chapman, says that A New System For The Privileged Is Not A Remedy For The Economy.” The current financial crisis in the US and around the world was not a failure of capitalism, but an intentional looting of the world financial system by Illuminist crony fascism sheep-dipped in capitalism. The old [...]

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global warming hitler

‘It cannot be acceptable that the benefits of success in [the banking] sector are reaped by the few, but the costs of its failure are borne by all of us.’ — British Prime Minister Gordon Brown. It is important that the chartered banks be prevented from entering any financial undertaking that involves significant risks and [...]

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greed

“The injunction of Jesus to love others as ourselves is an endorsement of self-interest,” Goldman’s Griffiths said Oct. 20 It is easy to make a profit when you use money that was given to you by the government in the form of a “bail out” through AIG. It is obvious this is a complex web [...]

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new zealand bank

“Future Governments will face two basic options. They can either lift economic growth above current assumptions or they can cut spending and reduce public services,” Mr English said. New Zealand is an interesting case study because of its changes throughout the years and its experiments with globalization. In the early 1980s as the Pacific nation [...]

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