Blogs
"To any thinking individual, it is totally incomprehensible that governments and central banks believe that an insolvent world can be saved by debt issued by bankrupt nations and then bought by the issuers themselves as there is no other buyer. This is the perfect recipe for self-destruction and "total catastrophe of the system." " - Egon von Greyerz
"Gold is the money of kings; silver is the money of gentlemen; barter is the money of peasants; but debt is the money of slaves." - Money and Wealth in the New Millennium, by Norm Franz, copyright © 2001, Whitestonepress, page 154
Various news from around the world:
- Zerohedge: Civil War Breaks Out In Tripoli
- Korean Times: Interest payments on household debt hit record high last year
- UK Telegraph: UK economic growth held up in February, figures to show (ed. Figures show devaluation of the GBP. This story is a contrarian signal that the UK economy is about to tank - watch the AUDGBP as an indicator of this...)
- The Economic Times India: 9% economic growth forecast difficult to achieve: Economists (ed. some unusual press freedom from India - Indian economists disagreeing with the Indian government being vocalised publicly...)
- Mises.org: Deep Freeze - Iceland's Economic Collapse by Philipp Bagus & David Howden (ed. excellent short book of 115 pages exploring the case study of Iceland's economic collapse through the prism of Austrian Economic Business Cycle theory...)
- The Straits Times: China plans sweeping economic change
- Japan Today: Attack cripples Iraq's largest refinery (ed. can you tell who Iraq's major customer is by this report? Look at the source of publisher...)
- Zerohedge: Protests Spread To Vietnam
- The Straits Times: US governors, Chinese leaders strengthen trade ties (ed. US governors: help...we need money...will you buy our debt? Chinese governors: of course we will.....but only if you sell us what we want. you know: arable land, mining leases, energy...and all that sort of stuff. US governors: oh.....<still thinking>.....<still thinking>.....<no lightbulb flashes above the head>.....<head empty>.....is that all you want?)
- Zerohedge: Guest Post: Analysis of the Global Insurrection Against Neo-Liberal Economic Domination and the Coming American Rebellion
Some news from today, and from the past week or so. Mainly Markets, Financial, Geo-political focussed:
- CNBC: ECB's Bini Smaghi Sees Risks to Late Policy Exit
- Singapore Business Times: Abu Dhabi, Singapore forge deeper economic ties
- Zerohedge: ECB's Jurgen Stark: "The Casino Is Still Open"
- Wall Street Journal: Australia Lawmaker Windsor: Supports Introduction Of Disaster Tax
- Yahoo via Reuters: IMF conducts stress tests in UK
A sampling of markets & economics related news from around the world, with a smattering of Science & Tech news thrown in:
Some markets, political & geo-political news:
- India, Iran mull over gold-for-oil for now
- Italy: Youth Unemployment Hits Record 28.9%
- GATA: Judge orders Fed to deliver gold records for her review
- US: Illinois Governor Flees Capitol Through The Basement After Disastrous Meeting On State Budget
- Sprott Physical Silver Trust Updates Investors on the Delivery Status of its Silver Bullion Purchases
- Gillard warns of $13 billion hit to economy
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