Tag Archives: money

Bank run fears in Bulgaria

FIB Bulgaria bank

Dozens of depositors have withdrawn savings from Bulgaria’s third biggest bank despite assurances from the government and the European Union that their money was safe after a similar run shut down another major lender last week. Bulgarian authorities have arrested four people suspected of trying to destabilise the banking system in a concerted phone and internet campaign. However, the queues forming to withdraw ... Read More »

Russia buys 900,000 ounces of gold worth $1.17 billion in April

Swiss gold

The Russian central bank has again increased its gold reserves by another 900,000 ounces worth $1.17 billion in April. Russia’s gold reserves rose to 34.4 million troy ounces in April, from 33.5 million troy ounces in March, the Russian central bank announced on its website yesterday. The value of its gold holdings rose to $44.30 billion as of May 1, ... Read More »

5 Nobel Prize winners: ‘End the war on drugs’

War on Drugs

Many have pointed out that the global war on drugs has been a waste of tax-payer time and money. It has also resulted in loathsome socio-political policies that have negative long-term ramifications. Now, five Nobel Prize winning economists as well as several world leaders are endorsing a just-published report by the London School of Economics and Political Science which seeks to end the drug ... Read More »

10 Questions with Robert Kiyosaki

Robert Kiyosaki

For this blog, my team gave me 10 questions that they’ve seen asked by people in our community. Let’s just dive in: 1. Why is it important to find a financial mentor? If you want success, you need mentors who have experienced success. In flight school, my first instructors taught me the basics of flying. The next level of instructors ... Read More »

David Cameron: Taxes will rise unless we can raid bank accounts

David Cameron

Taxes will have to rise unless officials are given new powers to raid people’s bank accounts, David Cameron has said. The Treasury select committee warned that allowing HM Revenue and Customs to remove cash from bank accounts without court orders is “very concerning” because of its history of mistakes. The committee said that taxpayers could suffer “serious detriment” if officials ... Read More »

How 37 banks became 4

4 banks to 1

If you were wondering how banks got “too big to fail,” here’s a good place to start. This chart shows us how, over the last couple of decades, 37 banks have became just 4 mega-banks. These same 4 mega-banks have, thus far, been immune to the consequences of any and all of their terrible decisions that places the entire world economy in jeopardy. ... Read More »

European Central Bank “models” €1 trillion in money printing

ECB European Central Bank

Update: in direct flashback from the summer of 2011 when the ECB leaked news only to retract it within minutes, this just happened: CONSTANCIO: DOESN’T KNOW ABOUT 1 TLN-EURO QE MODEL REPORT For those who have forgotten, here is the ECB playbook: leak “false” rumor, gauge market reaction, then promptly deny said rumor knowing quite well how the market will respond ... Read More »

US military protecting international banking cartel

Bank of America

“My assessment is that 90% of the value of the US dollar comes from the US military.” — Former Assistant Housing Secretary Catherine Austin Fitts For decades, America has used its armed strength to enforce the use of the dollar as the world’s reserve currency, effectively making the US military the armed wing of the international banking cartel (IBC). Since ... Read More »

HSBC is broke; restricts large cash withdrawals

HSBC sign

Following research last week suggesting that HSBC has a major capital shortfall, the fact that several farmer’s co-ops were unable to pay back depositors in China, and, of course, the liquidity crisis in China itself, news from the BBC that HSBC is imposing restrictions on large cash withdrawals raising a number of red flags. The BBC reports that some HSBC ... Read More »

Why Germany won’t get it’s gold back from the FED

german gold

What does Germany requesting the return of its gold from the Federal Reserve have to do with you? Glenn Beck argued on his radio and television programs Wednesday that if what he suspects is true, it could bring about an unprecedented financial crash on a global scale. His radio co-host Pat Gray described it as potentially “cataclysmic.” “Subprime crisis, do ... Read More »