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Banks Are Evil

It's time to get painfully honest about this
Friday, March 17, 2017, 8:05 PM

I don't talk to my classmates from business school anymore, many of whom went to work in the financial industry.

Why?

Because, through the lens we use here at PeakProsperity.com to look at the world, I've increasingly come to see the financial industry -- with the big banks at its core -- as the root cause of injustice in today's society. I can no longer separate any personal affections I might have for my fellow alumni from the evil that their companies perpetrate.

And I'm choosing that word deliberately: Evil. » Read more

Podcast

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Jim Rickards: They're Going To Lock Down The System

When central banks can print no more, money will be trapped
Sunday, November 6, 2016, 1:50 PM

Summary:

Click the play button below to listen to Chris' interview with Jim Rickards (35m:25s). » Read more

Podcast

Janet Tavakoli: Life And Death On Wall Street

History shows systemic corruption can be overcome
Sunday, October 30, 2016, 5:06 PM

Financial markets and derivatives authority Janet Tavakoli returns to the podcast to discuss a number of the themes contained in her new book Decisions: Life And Death On Wall Street.

She paints a particularly informative timeline of the greed and rot that has come to dominate the modern financial system, and how its tentacles have fully penetrated and subjugated the halls of power in Washington DC. » Read more

Podcast

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New Harbor: A Time For Staying Out Of Harms Way

Preserving your financial capital
Sunday, January 24, 2016, 1:16 PM

Given the brutal start to the markets in the first three weeks of 2016, we thought it a good time to check in with the team at New Harbor Financial. We have had them on our podcast periodically over the past years as the market churned to ever new highs, and have always appreciated their skepticism of these liquidity-driven ""markets"" as well as their unwavering commitment to risk management should the party in stocks end suddenly.

So, how is their risk-managed approach faring now that the S&P 500 has suddenly dropped 8% since Christmas? Quite well. Their general portfolio is flat for the year so far -- evidence that caution, prudence and hedging can indeed preserve capital during market downdrafts.

We've invited the New Harbor team back on this week to hear their latest assessment on the markets, as well as how they're approaching their portfolio positioning moving forward. » Read more

Insider

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Unpacking the Propaganda

Debunking the increasingly fact-free financial media
Wednesday, October 1, 2014, 7:06 PM

Almost daily there's some article or another in the US financial press that is little more than marketing collateral for Wall Street.

Broken down, the message is always some version of: Now is a great time to buy stocks!

It's gotten to the absurd stage where everything justifies higher stock prices. » Read more

Podcast

Michael Pettis: The Future of China

The challenges it faces are truly massive
Saturday, August 17, 2013, 4:59 PM

Is China destined to emerge as the dominant superpower that will drive the 21st century to new heights of prosperity? Or instead, might it collapse spectacularly under the weight of its own overinvestment, dragging the global economy down with it in history's largest 'hard landing'?

Few people can see the big picture in China more clearly than Michael Pettis, Beijing-based economic theorist and Professor of Finance at Peking University. Michael sees China's future prosperity tied to its ability to successfully address: » Read more

Daily Digest

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Daily Digest 5/16 - Farms Feeling The Pinch, The Bank Shakedown That Could Ruin Your Life

Thursday, May 16, 2013, 11:38 AM
  • Opinion: Sell financial advice or products, not both
  • French recession: Farms feeling the pinch
  • How to skip lines at Disney: Hire a disabled ‘escort’ on the black market — only $1,040 a day
  • Gold & What I Know For Certain
  • Gold Daily and Silver Weekly Charts - South Africa Imports $1 Billion In Gold Bullion From NYC?
  • Timelapse
  • William Kaye: Founder, Vice Chairman and Senior Managing Director of the Pacific Alliance Group of Companie
  • A New Chapter In Currency Wars – Russia Joins The Game
  • Richard Cordray and the CFPB Are Monitoring Your Banking Habits
  • The Vicious New Bank Shakedown That Could Seriously Ruin Your Life
  • Student Debt and the Crushing of the American Dream
  • Brits Are Now Poorer Than The French, Swiss, Belgians, Swedes, Austrians, Aussies And Canadians
  • Six-figure salaries no draw as young workers shun Canada’s oil and gas sector for ‘sexier’ industries
  • Goldman Sachs hires particle physicist from the Large Hadron Collider
  • Produce Industry’s Food Safety Push Takes Toll on the Environment
  • Which way will the Alberta oil pipeline go after Christy Clark’s win?
  • Commander Hadfield Shows Us What Science Communication Could Be. Visually.
  • Maps show impact of overcutting old-growth forests, conservation groups say
Daily Digest

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Daily Digest 4/29 - When Terrorism Meets Fraud, Oil Sands Health Concerns Rise

Monday, April 29, 2013, 8:10 AM
  • Army Says No More Tanks, But Congress Insists
  • Germany's Perspective: "How Europe's Crisis Countries Hide their Wealth"
  • Home truths for online falsehoods
  • When Terrorism Meets Financial Fraud
  • ‘Peak Fossil Fuels’ Is Closer Than You Think: BNEF
  • MPs Warned not to Expect Shale Gas Boom in the UK
  • Keystone XL: Oil Sands Health Concerns Rise Downstream Of Expanding Extraction
  • Eldorado Gold’s big Greek mining problem
Blog

We've Dug a Pretty Damn Big Hole for Ourselves

How do we get out of this mess?
Monday, April 22, 2013, 10:15 PM

The diminishing returns of technology are insidious, and they are ever with us. By this I mean the slow erosion of the quality of life, despite the impression that technological wonders only make our lives better. » Read more

Daily Digest

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Daily Digest 4/4 - Barclays Blames Bank Culture; Shut Up, Savers!

Thursday, April 4, 2013, 10:44 AM
  • 'Shut Up, Savers!'
  • Storm drain grates go missing, create safety hazard
  • UN adopts Arms Treaty with support from Obama administration
  • Chinese Foreign Fisheries Catch 12 Times More Than Reported, Study Shows 
  • Are All G20 Bank Depositors Exposed to a Cyprus Style Seizure of Deposits for a 'Bail-in?' 
  • Ottawa’s bank ‘bail-in’ talk spooks investors
  • Michael Sona Charged By Elections Canada In Connection To Robocall Scandal
  • Man has undeclared $10,000 seized at border after exchange rate pushes him over limit to take from country
  • Barclays' Salz Review blames bank culture
  • Researcher tried to export pathogen to China, RCMP allege
  • Massive offshore tax haven account leak includes names of 450 wealthy Canadians
  • Senators get automatic $2,900 pay boost after MP’s vote to increase their own salaries
  • David Stockman: "The Great Deformation"
  • Cyber Attack Alert
  • Currency Wars: “The Fed is Playing with a Nuclear Reactor”
  • A Tipping Point In The Financial System
  • Rumors of a Cheap-Energy Jobs Boom Remain Just That
  • Food Field Urban Farm in Detroit Heals Land, Sets Sights On Aquaponics and Economic Viability
  • China reports three H7N9 infections, two fatal