IMF Prepares For ‘Threat To International Monetary System’

Back in April 2010, before Waddell and Reed sold a few shares of ES, effectively destroying the market on news that Europe was insolvent, we made the following observation: “The IMF has just announced that it is expanding its New Arrangement to Borrow (NAB) multilateral facility from its existing $50 billion by a whopping $500 [...] continue reading world news

Libya: Rebels Create New National Oil Company AND Form A Central Bank!

As you can see this war is certainly not about oil and financial control and the rebels are ‘real rebels’. This war has certainly nothing to do with the fact that Gaddafi wanted/threatened to nationalize the oil industry in Libya and to kick out foreign corporations. Mar. 29 (Bloomberg) — Libyan rebels in Benghazi said [...] continue reading world news

Tsunami of Inflation to Hit US with Japan Crisis

See also: - Dallas Federal Reserve Bank President Richard Fisher: US Approaching Insolvency - PIMCO Total Return, The World’s Largest Bond Fund, Dumps All US Government Debt Holdings The earthquake, tsunami, and nuclear disaster that hit Japan this past week and the destruction that it caused is nothing compared to the tsunami of inflation that [...] continue reading world news

Fears rise that Japan could sell off US debt

See also: - Dallas Federal Reserve Bank President Richard Fisher: US Approaching Insolvency - PIMCO Total Return, The World’s Largest Bond Fund, Dumps All US Government Debt Holdings (Washington Times) — Some lawmakers and market analysts are expressing rising concerns that a demand for capital by earthquake-ravaged Japan could lead it to sell off some [...] continue reading world news

Texas: Worst Drought in 44 Years Damaging Wheat Crop, Reducing Cattle Herds

Wheat futures in Chicago are up 50 percent in the past year, after drought in Russia and floods in Australia hurt output and sent global food prices surging. Photographer: Carla Gottgens/Bloomberg Mar. 24 (Bloomberg) — The worst Texas drought in 44 years is damaging the state’s wheat crop and forcing ranchers to reduce cattle herds, [...] continue reading world news

Will JP Morgan Now Make and Take ‘Delivery’ of Its Own Silver Shorts?

There is nothing inherently wrong and certainly nothing “illegal” about J.P. Morgan Chase gaining a vault license for storing and taking delivery of gold/silver/platinum/palladium from the futures markets known as NYMEX/COMEX. However, the speed, timing and manner in which the exchanges just granted it troubles us. The process of being approved as a licensed vault [...] continue reading world news

Dallas Federal Reserve Bank President Richard Fisher: US Approaching Insolvency

The United States is on a fiscal path towards insolvency and policymakers are at a “tipping point,” a Federal Reserve official said on Tuesday. “If we continue down on the path on which the fiscal authorities put us, we will become insolvent, the question is when,” Dallas Federal Reserve Bank President Richard Fisher said in [...] continue reading world news