Meltdown

On the 30th Anniversary Of Chernobyl, Here's What We Are Still Not Being Told

On the 30th anniversary of the world’s worst nuclear catastrophe yet, a new report shows radioactive contamination from the 1986 explosion at Chernobyl in Ukraine still lingers in startlingly large amounts across the border in neighboring Belarus. In an exclusive report by the Associated Press, fresh milk from a Belarusian dairy farm contained a radioactive isotope, traceable to the Chernobyl disaster, at “levels 10 times higher than the nation’s food safety limits” - thirty years after the accident occurred.

Stories Of Despair From The Forgotten People That The U.S. Economy Has Left Behind

There really are “two Americas” in 2016, and they are getting farther and farther apart with each passing year.  On the one hand, you have lots of people smiling in New York City these days because of the stock market boom, and property values have soared to ridiculous levels in San Francisco because of the tech bubble.  But in between the two coasts there are vast stretches of forgotten people that the U.S. economy has left behind. 

Ron Paul Asks "What Did Fed Chairman Yellen Tell Obama?"

Yellen’s secret meeting at the White House followed an emergency secret Federal Reserve Board meeting. The Fed then held another secret meeting to discuss bank reform. These secret meetings come on the heels of the Federal Reserve Bank of Atlanta’s estimate that first quarter GDP growth was .01 percent, dangerously close to the official definition of recession. Thus the real reason for all these secret meetings could be a panic that the Fed’s eight year explosion of money creation has not just failed to revive the economy, but is about to cause another major market meltdown.

Japan's Keynesian Death Spiral - How Central Planners Crippled An Economy

The greatest tragedy of the 2008–2009 financial meltdown was not that it happened. The collapse of asset prices was the necessary result of near zero interest rates. No, the most devastating aspect of the financial meltdown is that central planning alchemy lost no credibility. Policymakers around the world are still turning to Keynesian and socialist interventionism to address problems caused by Keynesians and socialists. The twin sledgehammers of central banking and almost unlimited state power have so distorted global markets (again) that some economies are now terminal. The latest victim of the interventionists and micromanagers is the nation of Japan. A once genuinely productive and innovative nation has, over the years, slowly succumbed to the cancerous rot of interventionism.

These SEC Insider Emails Reveal Why No Bankers Have Gone To Jail

Now that we are gearing up to bring a handful of cases in this area, I suggest that we keep in mind that the vast majority of the losses suffered had nothing to do with fraud and the like and are more fairly attributable to lesser human failings of greed, arrogance and stupidity of which we are all guilty from time to time.”

The Whole System Is Built Upon Lies And "We're In The Terminal Phase"

"We’re in the terminal phase of the greatest debt bubble in all of human history... The crisis that happened last time around… it was just a warning signal of what would happen if we didn’t fix our problems... and of course we didn’t fix them. It’s not sustainable... There’s going to be a permanent, massive adjustment and a loss of faith in the current system..."

Ron Paul On The Fed's "No Win" Situation

The Fed’s response to its failures is to find new ways to pump money into the economy. Hence the Fed is actually considering implementing “negative interest rates.” Negative interest rates are a hidden tax on savings. Negative interest rates may create the short-term illusion of growth, but, by discouraging savings, they will cause tremendous long-term economic damage. The Fed can only keep the wolves at bay with promises of future rate increases for so long before its polices cause a major dollar crisis.

Gold Money's picture

Fiat Money Fairytales

Frequently one can tell by the title of an opinion piece whether it is going to consist of quality arguments or just meretricious mudslinging. Professor Charles Postel of San Francisco State University boldly announces the latter in choosing to title his recent tirade against sound money, "Why Conservatives Spin Fairytales About the Gold Standard". As this article is so typical of what we seek to rebut, we publish it here, and now.

The Fed Sends A Frightening Letter To JPMorgan, Corporate Media Yawns

Yesterday the Federal Reserve released a 19-page letter that it and the FDIC had issued to Jamie Dimon, the Chairman and CEO of JPMorgan Chase, on April 12 as a result of its failure to present a credible plan for winding itself down if the bank failed. The letter carried frightening passages and large blocks of redacted material in critical areas, instilling in any careful reader a sense of panic about the U.S. financial system. The Federal regulators didn’t say JPMorgan could pose a threat to its shareholders or Wall Street or the markets. It said the potential threat was to “the financial stability of the United States.”

U.S. Economy 2016: 3 Classic Recession Signals Are Flashing Red

Those that were hoping for an “economic renaissance” in the United States got some more bad news this week.  It turns out that the U.S. economy is in significantly worse shape than the experts were projecting.  Retail sales unexpectedly declined in March, total business sales have fallen again, and the inventory to sales ratio has hit the highest level since the last financial crisis.  When you add these three classic recession signals to the 19 troubling numbers about the U.S. economy that we wrote about last week, it paints a very disturbing picture.

The Great Glut: Why LNG Markets Might Not Balance Before 2025

The worldwide rush to build liquefaction capacity has the characteristics of speculative bubbles and gold rushes of past centuries. In the case of the developing LNG glut, the blame must probably be shared by overambitious promoters and prestigious but imprudent energy experts.

Goldman Slammed With $5.1 Billion Fine For "Serious Misconduct" In Mortgage Selling

Hot on the heels of Wells Fargo's $1.2 billion settlement, Bloomberg reports that Goldman Sachs will pay $5.1 billion to settle a U.S. probe into its handling of mortgage-backed securities involving allegations that loans weren’t properly vetted before being sold to investors as high-quality bonds. “This resolution holds Goldman Sachs accountable for its serious misconduct in falsely assuring investors that securities it sold were backed by sound mortgages, when it knew that they were full of mortgages that were likely to fail,” said Acting Associate Attorney General Stuart Delery.

Janet's Jabbering Leaves Investors "On The Edge Of A Live Volcano"

The evidence that Yellen is clueless or a blatant liar is endless. The casino gamblers keep dancing on the edge of a live volcano in the belief that Yellen has their back. In fact, her statements this week prove once again that she is right there on the edge with them - jabbering incoherently. One of these days, even the silicon units in the casino will take notice. The dancing will then turn into diving for the doors.