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Tag Archives: banking system

  • Blog
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    2013 Year in Review

    Austerity is not a policy
    by David Collum

    Friday, December 20, 2013, 5:36 PM

    12

    Every year, friend-of-the-site David Collum writes a detailed "Year in Review" synopsis full of keen perspective and plenty of wit. This year's is no exception. Moreover, he has graciously selected PeakProsperity.com as the site where it will be published in full. It's quite longer than our usual posts, but worth the time to read in full.

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  • Podcast

    Bill Black: The Banks Have Blood on Their Hands

    And our regulators are too fearful to act
    by Adam Taggart

    Sunday, July 14, 2013, 1:13 AM

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    We invited Bill Black to return to explain whether the level of systemic risk due to fraud in our financial markets has improved or worsened since the dire situation he painted for us in early 2012. Sadly, it looks like abuse by the big players has only flourished since then.

    In the U.S., our regulators have publicly embraced a "too big to prosecute" doctrine. We are restraining, underfunding, and dismantling regulatory oversight in the interest of short-term stability for the status quo. Which, as a criminologist, Black knows with certainty creates an environment where bad actors will act in their self-interest with assumed (and likely real, at this point) impunity.

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  • Insider
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    Off the Cuff: Faster & Furiouser

    Dangerous exponentials everywhere
    by Adam Taggart

    Thursday, April 11, 2013, 6:08 AM

    9

    In this week's Off the Cuff podcast, Chris and Jim discuss:

    • Bitcoin Bubble?
      • The price action looks like one
    • The Japan experiment
      • Look East to see our future
    • In Fraud We Trust
      • Our banking system is run on accounting fraud
    • Staying Sane
      • Focus on what’s under your control
    Enroll Now
    Or Sign In with your enrolled account.

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  • Podcast

    David Stockman: We’ve Been Lied To, Robbed, and Misled

    And we're still at risk of it happening all over again
    by Adam Taggart

    Saturday, March 30, 2013, 4:42 PM

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    David Stockman, former director of the OMB under President Reagan, former US Representative, and veteran financier is an insider's insider. Few people understand the ways in which both Washington DC and Wall Street work and intersect better than he does.

    In his upcoming book, The Great Deformation, Stockman lays out how we have devolved from a free market economy into a managed one that operates for the benefit of a privileged few. And when trouble arises, these few are bailed out at the expense of the public good.

    By manipulating the price of money through sustained and historically low interest rates, Greenspan and Bernanke created an era of asset mis-pricing that inevitably would need to correct.  And when market forces attempted to do so in 2008, Paulsen et al hoodwinked the world into believing the repercussions would be so calamitous for all that the institutions responsible for the bad actions that instigated the problem needed to be rescued — in full — at all costs. 

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  • Blog
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    Say Goodbye to the Purchasing Power of the Dollar

    Mr. Bernanke goes to Crazytown
    by Adam Taggart

    Monday, March 25, 2013, 3:29 AM

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    On a long solo car trip this past weekend, I downloaded several podcasts to listen to as the miles passed. One was a classic: The Invention of Money, originally released by NPR's Planet Money team back in January of 2011. I highly recommend listening (or re-listening) to it in full.

    The podcast is a great reminder of how any currency in a monetary system is a fabricated construct. A simpler way to explain this is to say it has value simply because we believe it does.

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  • Blog
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    Gold & the Dollar are Less Correlated than Everyone Thinks

    Understanding the impact of Triffin's Paradox
    by charleshughsmith

    Tuesday, November 13, 2012, 3:03 PM

    30

    Whenever I make the case for a stronger U.S. dollar (USD), the feedback can be sorted into three basic reasons why the dollar will continue declining in value:

    1. The USD may gain relative to other currencies, but since all fiat currencies are declining against gold, it doesn’t mean that the USD is actually gaining value; in fact, all paper money is losing value.
    2. When the global financial system finally crashes, won’t that include the dollar?
    3. The Federal Reserve is “printing” (creating) money, and that will continue eroding the purchasing power of the USD. Lowering interest rates to zero has dropped the yield paid on Treasury bonds, which also weakens the dollar.

    The general notion here is that, given the root causes of our economic distemper – rampant financialization, over-leverage and over-indebtedness, a politically dominant parasitic banking sector, an aging population, overpromised entitlements, a financial business model based on fraud, Federal Reserve monetizing of debt, and a dysfunctional political system, to mention only the top of the list – how can the USD appreciate in real terms?

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  • Blog

    Straight Talk with Jesse: Concentration of Wealth & Power Is the Root Problem

    by Adam Taggart

    Monday, March 28, 2011, 10:30 PM

    0

    “Straight Talk” features thinking from notable minds that the ChrisMartenson.com audience has indicated it wants to learn more about. Readers submit the questions they want addressed and our guests take their best crack at answering. The comments and opinions expressed by our guests are their own.

    This week’s Straight Talk contributor is ‘Jesse’, founder and proprieter of Jesse’s Café Américain (jessescrossroadscafe.blogspot.com), one of the more esteemed and veteran econoblogs. Jesse publishes regular observations on the macroeconomic factors impacting the financial markets, as well as exceptionally rich technical analysis – his price forecast charts of gold and silver are ‘must reads’ for anyone who seriously invests or trades precious metals. Recently, his site was rated as the fourth-most-influential blog in financial media by Mindful Money.


    1. Jesse’s Café Américain has emerged as a well-regarded source for insight into the key indicators driving the markets. Can you summarize your overall outlook for the economy and what macro trends investors and traders should be following most closely?

    Stagflation has been my forecast for quite some time as the most likely outcome, with a real protracted deflation or hyperinflation as lesser probabilities.  

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