May 07

“I Have 80% Of My Assets In GOLD.”


Added: 7. Mai 2010

If Nostradamus were alive today, he’d have a hard time keeping up with Gerald Celente.
– New York Post

When CNN wants to know about the Top Trends, we ask Gerald Celente.
– CNN Headline News

There’s not a better trend forecaster than Gerald Celente. The man knows what he’s talking about.
– CNBC

Those who take their predictions seriously … consider the Trends Research Institute.
– The Wall Street Journal

A network of 25 experts whose range of specialties would rival many university faculties.
– The Economist

More from Gerald Celente:

Gerald Celente: Obama’s Financial Reform Is Just A Show

The No.1 Trend Forecaster Gerald Celente on ObamaCare, Dollar Devaluation And Gold

Gerald Celente: This time they will close the Banks & Wall Street (03/27/10)

Gerald Celente: ‘It’s the greatest bank robbery in world history and the banks are doing the robbing.’

Gerald Celente: ‘The Crash is Coming in 2010.’

The No.1 Trend Forecaster Gerald Celente: Financial Mafia Controlling US and Wall Street

Survivor, America: ‘It’s Only Going to Get Worse,’ Gerald Celente Says

The No.1 Trend Forecaster Gerald Celente: The Terror And The Crash of 2010

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Feb 14

beijing-financial-street
Beijing’s Financial Street on Feb. 4, 2010. (Bloomberg)

Feb. 12 (Bloomberg) — Jack Rodman, who has made a career of selling soured property loans from Los Angeles to Tokyo, sees a crash looming in China. He keeps a slide show on his computer of empty office buildings in Beijing, his home since 2002. The tally: 55, with another dozen candidates.

“I took these pictures to try to impress upon these people the massive amount of oversupply,” said Rodman, 63, president of Global Distressed Solutions LLC, which advises private equity and hedge funds on Chinese property and banking. Rodman figures about half of the city’s commercial space is vacant, more than was leased in Germany’s five biggest office markets in 2009.

Beijing’s office vacancy rate of 22.4 percent in the third quarter of last year was the ninth-highest of 103 markets tracked by CB Richard Ellis Group Inc., a real estate broker. Those figures don’t include many buildings about to open, such as the city’s tallest, the 6.6-billion yuan ($966 million) 74- story China World Tower 3.

Empty buildings are sprouting across China as companies with access to some of the $1.4 trillion in new loans last year build skyscrapers. Former Morgan Stanley chief Asia economist Andy Xie and hedge fund manager James Chanos say the country’s property market is in a bubble.

“There’s a monumental property bubble and fixed-asset investment bubble that China has underway right now,” Chanos said in a Jan. 25 Bloomberg Television interview. “And deflating that gently will be difficult at best.”

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Dec 28

Listen AMERICA! Listen WORLD! Listen!!!

Stop listening to elite puppets like Obama, Bernanke and Geithner or you are doomed!!!


1 of 2:

2 of 2:

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Nov 26

Dubai is broke and will become a ghost town.

“Altogether, the Dubai government and its companies have more than $80 billion of debt. The emirate, which has a population of only two million, has been forced twice to approach its oil-rich neighbour in Abu Dhabi for the funds to bail it out.”


Palm Jumeirah
The Atlantis (!) hotel in Dubai

David Beckham and Brad Pitt are believed to be among the celebrities and sportsmen who bought villas in Palm Jumeirah in Dubai, a luxury development that juts out into the Gulf. But when the property bubble burst this year, residents saw the value of their investments collapse. Yesterday their situation worsened as Nakheel, the developer, and its state-owned parent made a request to suspend debt repayments.

The statement rocked credit mar-kets around the world and prompted analysts to question whether Dubai, the most populous of the United Arab Emirates, will be able to meet its obligations. The concern is that Nakheel will be unable to continue developing the Palm and neighbouring projects, leaving Dubai and its coastal waters an ugly, unfinished construction site.

When the 2,000 villas and townhouses on the Palm went on sale in 2002, they sold out in a month. Passing through en route to the World Cup in Japan and Korea were the England football team, and several players stopped off to sign up for £1 million properties on the artificial island, with Michael Owen, David James, Joe Cole, Andy Cole and Kieron Dyer, it was reported, joining Beckham on the beaches. Pitt and Angelina Jolie are also said to have bought homes.

Joe Cole was one of the few who got out in time. The Chelsea player sold his villa for about $3.5 million (£2.1 million) last summer as Dubai’s property bubble approached bursting point.

Nakheel is now in deep trouble and struggling to cover its debts. Dubai World, a government conglomerate that owns the developer, is $60 billion in the red. Yesterday’s announcement by the Dubai government that it wishes to suspend repayment of Dubai World’s debts for six months, including a $4 billion bond held by Nakheel that was due to be repaid next month, is the clearest indication that the emirate can no longer meet its obligations.

Work has stopped on several major projects around the city and companies have had to accept huge cuts in the value of their contracts. More than 400 projects worth more than $300 billion are said to have been cancelled or shut down as a result of the property collapse.

Continue reading »

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Nov 19

Société Générale has advised clients to be ready for a possible ‘global economic collapse’ over the next two years, mapping a strategy of defensive investments to avoid wealth destruction.

japan-mount-fuji
Explosion of debt: Japan’s public debt could reach as much as 270pc of GDP in the next two years. A bullet train is pictured speeding past Mount Fuji in Fuji city, west of Tokyo Photo: Reuters

In a report entitled “Worst-case debt scenario”, the bank’s asset team said state rescue packages over the last year have merely transferred private liabilities onto sagging sovereign shoulders, creating a fresh set of problems.

Overall debt is still far too high in almost all rich economies as a share of GDP (350pc in the US), whether public or private. It must be reduced by the hard slog of “deleveraging”, for years.

“As yet, nobody can say with any certainty whether we have in fact escaped the prospect of a global economic collapse,” said the 68-page report, headed by asset chief Daniel Fermon. It is an exploration of the dangers, not a forecast.

Under the French bank’s “Bear Case” scenario, the dollar would slide further and global equities would retest the March lows. Property prices would tumble again. Oil would fall back to $50 in 2010.

Governments have already shot their fiscal bolts. Even without fresh spending, public debt would explode within two years to 105pc of GDP in the UK, 125pc in the US and the eurozone, and 270pc in Japan. Worldwide state debt would reach $45 trillion, up two-and-a-half times in a decade.

(UK figures look low because debt started from a low base. Mr Ferman said the UK would converge with Europe at 130pc of GDP by 2015 under the bear case).

The underlying debt burden is greater than it was after the Second World War, when nominal levels looked similar. Ageing populations will make it harder to erode debt through growth. “High public debt looks entirely unsustainable in the long run. We have almost reached a point of no return for government debt,” it said.

Inflating debt away might be seen by some governments as a lesser of evils.

If so, gold would go “up, and up, and up” as the only safe haven from fiat paper money. Private debt is also crippling. Even if the US savings rate stabilises at 7pc, and all of it is used to pay down debt, it will still take nine years for households to reduce debt/income ratios to the safe levels of the 1980s.

The bank said the current crisis displays “compelling similarities” with Japan during its Lost Decade (or two), with a big difference: Japan was able to stay afloat by exporting into a robust global economy and by letting the yen fall. It is not possible for half the world to pursue this strategy at the same time.

SocGen advises bears to sell the dollar and to “short” cyclical equities such as technology, auto, and travel to avoid being caught in the “inherent deflationary spiral”. Emerging markets would not be spared. Paradoxically, they are more leveraged to the US growth than Wall Street itself. Farm commodities would hold up well, led by sugar.

Continue reading »

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Jan 01

If Nostradamus were alive today, he’d have a hard time keeping up with Gerald Celente.
– New York Post

When CNN wants to know about the Top Trends, we ask Gerald Celente.
– CNN Headline News

There’s not a better trend forecaster than Gerald Celente. The man knows what he’s talking about. – CNBC

Those who take their predictions seriously … consider the Trends Research Institute.
– The Wall Street Journal

A network of 25 experts whose range of specialties would rival many university faculties.
– The Economist


Alex welcomes back to the show Gerald Celente, the world’s number one trends forecaster, who has predicted a severe depression and riots in the streets.

Part 1 of 7 (Part 1 is not uploaded on YouTube. All the others are there and a must-see.)

Part 2 of 7

December 18, 2008
Source: YouTube

Continue reading »

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Dec 28

Part 1: Lindsey Williams on The Alex Jones Show

Source: YouTube

Part 2: Lindsey Williams on The Alex Jones Show

Source: YouTube

Part 3: Lindsey Williams on The Alex Jones Show ‘Update’

Source: YouTube

Related video: The Energy Non-Crisis by Lindsey Williams
Lindsey Williams talks about his first hand knowledge of Alaskan oil reserves larger than any on earth. And he talks about how the oil companies and U.S. government won’t send it through the pipeline for U.S. citizens to use.

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Dec 25

Mr. Celente long ago warned of the economic malaise that is gripping the planet – but he does have some good news.

Gerald Celente

The Greatest Depression *AUDIO*

To download this audio file to your computer, right click this link and select “save”, “save as” or “save file as” (depending upon your browser).

Source: HoweStreet

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Dec 25


Source: YouTube


Source: YouTube

Gerald Celente, and analyst renowned for accuracy on forecasting trends, explains why the impending economic collapse, next escalating to a serious retail and commercial real estate collapse, will be greater than the Great Depression of 1929; speaking on the Lew Rockwell Show.

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Aug 22

By Bob Chapman

The plan for an economic takedown, the results of rampant market speculations, insiders picking up assets for pennies on the dollar, the coming hyperinflation, the credit crunch, collapse of the dollar carry trade, suppression of metals prices, American meddling in Georgia

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Aug 02

Published for some of the information on the economy.


Added: August 02, 2008

Source: YouTube

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Jul 21

I called the death of Indymac Bancorp on Monday, July 7th. The Federal Deposit Insurance Corporation seized Indymac on Friday, July 11th.

I called the implosion of the two Government Sponsored Entities in the mortgage business, Fannie Mae and Freddie Mac on Wednesday, July 9th. Sunday, July 13th the White House announced a bailout for them.

Related article: Fed: No more bailouts, except Fannie Mae and Freddie Mac

Want to know what happens next? It’s ape ass ugly and it’s going to happen to you, so don’t say I didn’t warn you. Continue reading »

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Jul 20

Something is going to break, and soon. Banks are insolvent and failing by the hundreds if not thousands. Hedge funds are on the edge of oblivion. Only a tiny percentage of toxic waste losses in real estate and other asset classes of collateral, which will eventually amount to over $1.4 trillion in the US alone, has to date been recognized by the lying bankster fraudsters. Bonds are producing negative rates of return even based on ludicrously understated official rates of inflation (until this month, when we finally got some data bordering on the truth).

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Jul 16

“But, realistically, all ordinary people can do today is try to survive, perhaps by working with friends and neighbors in planting food and living within the underground economy. At least people might not then have to starve to death, because hard as it is to believe that “it could happen here,” widespread famine in the U.S. seems a real possibility over the next several years. Nations take such risks when they allow capitalist agribusiness to destroy local agriculture.”

With the economic news of the week of July 14-the continuing crisis among mortgage lenders, the onset of bank failures, the announced downsizing of General Motors, the slide of the Dow-Jones below 11,000-we are seeing the ongoing collapse of the U.S. economy.

Even the super-rich are becoming nervous as cries for an emergency suspension of short selling ring out.

What is really taking place, however, is that the producing economy of working men and women is being crushed by the overall debt burden on households, businesses, and governments that could reach $70 trillion by 2010. The financial system, including mortgage giants Fannie Mae and Freddie Mac, is bankrupt, as the debts it is based on cannot be repaid.

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Jul 08

I have found the leaked information on this closed session of Congress in March, but the source was not really reliable.

Now, since there is more than enough proof that the economy is going down the toilet (US: Total Crash of the Entire Financial System Expected, Say Experts), I have come across this information again at another website and so I have finally decided to publish it.

It would be very wise to prepare yourself, no matter weather this is true or not.

Have a look at the “World Situation” and the “Solution“. – The Infinite Unknown

A secret meeting of Congress discusses immanent martial law.

On March 13th 2008 there was a secret closed door meeting of The United States House Of Representatives in Washington. In the history of The United States this is only the fourth time a secret meeting was held by the house. Even though Representatives are sworn to secrecy by House Rules XVII, some of the members were so shocked, horrified, furious, and concerned about the future of America by what was revealed to them inside the secret meeting, that they have started to leak this secret information to independent news agencies around the world. The mass media said almost nothing about the secret meeting of the House, mentioning only one of the items being discussed. (The new surveillance techniques that are going to be used by the U.S. Government to watch all American citizens). The story was first released in a newspaper out of Brisbane, Australia revealing the contents of the secret U.S. Government meeting and plans for America including all of it’s citizens. Shortly there after, David J. Meyer from Last Trumpet Ministries found it and made it more available for the world to see.

Here is what was revealed:

  • The imminent collapse of the U.S. Economy to occur sometime in late 2008
  • The imminent collapse of the U.S. Government finances sometime in mid 2009
  • The possibility of Civil War inside the United States as a result of the collapse
  • The advance round-ups of “insurgent U.S. Citizens” likely to move against the government
  • The detention of those rounded up at The REX 84 Camps constructed throughout the United States
  • The possibility of public retaliation against members of Congress for the collapses
  • The location of safe facilities for members of Congress and their families to reside during massive civil unrest
  • The necessary and unavoidable merger of The U.S. with Canada and Mexico establishing The North American Union
  • The issuance of a new currency called the AMERO for all three nations as an economic solution.

Except for a few hundred thousand U.S. Patriots, most Americans have no clue what has really been going on within The United States over the past 100 years, and the sad thing is that most do not want to know the truth. The further you look into the rabbit hole, the deeper it gets. Go to any currency conversion site and convert U.S. dollars to Euros so you can see for yourself the massive decline of the dollar. Look at how much money is and has been spent on the Iraq War to date, ($12 billion per month). Look at our currency and when it stopped being backed by gold.

The Federal Reserve is not federal but a private bank who does not have Americans best interests at heart. We no longer have any manufacturing really based out of America and there is no way that our economy can survive this incredible strain very much longer. The IRS strong arms every American yearly with income taxes, yet there are no laws saying an income tax is to be paid.

The CIA is involved in everything from global drug trafficking and covert military missions, to assassinations around the world and including U.S. Soil. Look at JFK for instance. It did not take long after JFK announced that he was going disband the CIA that he was shot in Texas. America’s new StasiThe Department Of Homeland Security is and has been slowly eradicating our rights for a few years now. based organization called

House Bill H.R. 1955/S-1959 was read by the senate and then sent to DHS for some reason, but is now back and sure to pass. Once passed, this bill introduced by Jane Harman (D/CA), will be the proverbial last nail hammered into every American patriots coffin. H.R. 4279 or the Prioritizing Resources and Organization for Intellectual Property Act of 2008 which was recently passed by the U.S. House of Representatives, will give the government draconian powers to do just this. This legislation gives the government the power to seize property that facilitates the violation of intellectual property laws. The legislation also mandates the formation of a formal Intellectual Property Enforcement Division within the office of the Deputy Attorney General to enforce this insanity…

It has been revealed that F.E.M.A. has been building internment camps all over America granting Halliburton a massive $385 million dollar construction contract to make this happen. Most of these sites only need refurbished because they are mostly closed prisons, old WW2 internment camps still intact and other facilities taken over by the government. Some people have referred to them as F.E.M.A. Death Camps where the infamous Red list/Blue Lists will be used to decide who goes where.

Whether you believe that The NWO/Illuminati/Globalization is real or not, there is a lot of proof that exposes definite plans or plots by the rich, political and religious elite to bring on an era of the end times. It is almost like some individuals are trying to make bible prophecy come true in their own sick and twisted ways. Not to mention that the world only has about 10 to 15 years of drinking water left before the wars fought for oil today will be fought for water in the near future. It has been said that these powers want to depopulate the planet of over 30% of it’s human inhabitants in the coming years. Examine all of the executive orders that have been signed into place allowing the president to basically become dictator in control of all government from tribal to federal in the event of any national emergency.

If you did not know, In late 2006, Congress revised the Posse Comitatus Act and the Insurrection Act to make it far easier for a president to declare martial law. Those changes were repealed at the end of this January as part of Public Law 110-181 (HR 4986), the National Defense Authorization Act for Fiscal Year 2008 (signed into law by President Bush on January 28, 2008). Unfortunately it is not the great victory in which one might think because of the total militarization of all local and State police forces all across America.

Will there be martial law? Is martial law coming soon to America? When you see law enforcement being armed with automatic weapons, bullet proof vests and riot gear in small towns that have not had a murder or crime in years, then you have to ask yourself why.

The United States has more people locked up in prisons today than Russia and China combined. It comes out to one in every hundred Americans is behind bars. Our once great country that our ancestors fought and died for has become exactly the tyrants they were fighting. Fascists! When has America ever used words like Homeland? Never!

If you spend a few weeks reading all the info, watching the videos and following the links at The U.A.F.F., you will then have a better understanding of what has led to The Decline And Fall Of America. Remember that Knowledge is power! Learn, look, listen, read, share, prepare, train, stock up on food and water supply for one year.

Fill your pantry with non perishable foods, medicines, cooking oils, tinned meats and veggies. Flour, oats dried corn peas, beans and lentils.. Teach your self how to preserve food for storage. Check out your local potable/ drinking water supplies, non perfumed chlorine bleach is a good sterilizer for water, about 2 teaspoons full per 2 gallon bucket, stirred well and allowed to stand for at least 24 hours with a lid on it or until it no longer smells of bleach. Boiling water helps but it is not always enough to kill off the bacteria which can resist high temperatures.
(There are healthier ways to treat water – The Infinite Unknown)

Americans have been warned for years of the things to come, but have blindly looked away from the truth, which has been available for all to see. There are no more excuses not to prepare for the possible future. The time to act is now before it is too late.

B.A. Brooks
March 13, 2008

Source: The United American Freedom Foundation

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Jul 04

Investors are fleeing from the U.S. stock market, Sending the Dow to Worst June Since Depression, looking for places to secure their wealth.

There is an unprecedented cash flow of ‘hot money’, which is usually defined as short-term global speculative funds moving among financial markets in search of the highest short-term return, moving into China:
Is China flooded with ‘hot money’ because of an expected meltdown in the U.S.?

Let’s further examine the prospects that we would experience a total crash of the entire financial system:

Fortis Bank Predicts US Financial Market Meltdown Within Weeks

We have seen the Dow suffering it’s worst 1st half since ‘70 accompanied by a lot of bad news for the economy like:
US: Big Trouble for General Motors, Crysler and Ford
America’s Aviation System About To Collapse
Starbucks to cut as many as 12,000 positions
And now the corporations are cheating you at the supermarkets: America’s Shrinking Groceries

The Dollar is being destroyed by the Federal Reserve, which has created in the last three years 4 Trillion Dollars of new money out of thin air: Ron Paul on Iran and Energy June 26, 2008

Ron Paul is further warning that: This coming crisis is bigger than the world has ever experienced
and that: We are at the beginning of a huge Dollar bubble.

The US Federal Reserve intentionally created inflation and that is why its credibility has fallen “below zero” and that is why Barclays warns of a financial storm as Federal Reserve’s credibility crumbles.

More dire warnings:
RBS issues global stock and credit crash alert
Morgan Stanley warns of ‘catastrophic event’ as ECB fights Federal Reserve
Central bank body warns of Great Depression
Credit crisis expands, hitting all kinds of consumer loans
How Low Can The Dollar Go? Zero Value

Investors like Jim Rogers are telling us to “Avoid The Dollar At All Costs” and have told us that the Federal Reserve will fail and that Bernanke should be fired (alhough that isn’t possible because of his contract), because he has created the worst recession in the end and thats why he said: “Abolish the FED” on CNBC 2008.03.12.

The Fed is only doing good for the big corporations on Wall Street. If you would continuously come close to bankruptcy, because you have irresponsibly wasted your money, who will continuously give you billions of Dollars and bail you out, because you might fail? So I agree totally with Marc Faber: ‘Misleading’ Fed Should Let Banks Fail.

Well those corporations are said to be to “Big to Fail”, but they eventually will fail, because the entire system will fail and the Dollar is being destroyed in the process and so the people will end up with nothing, because their life savings are worthless paper. You are already paying the price for this policy, but maybe you haven’t looked at it that way:
The Price Of Food: 2007 – 2008
What inflation really is, is a taxation on monetary assets. And guess who is paying for all of that?

I just love this video. A must see:
The Stock Market and the Monetary System are on the verge of collapse!

Continue reading »

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Jul 03

The following statement is written by Congressman Paul about the pending financial disaster.

He will introduce this statement as a special order and insert it into the Congressional Record next week. Fortunately, we have the opportunity to debut it first on the Campaign for Liberty blog. It reads as follows:

I have, for the past 35 years, expressed my grave concern for the future of America. The course we have taken over the past century has threatened our liberties, security and prosperity. In spite of these long-held concerns, I have days-growing more frequent all the time-when I’m convinced the time is now upon us that some Big Events are about to occur. These fast-approaching events will not go unnoticed. They will affect all of us. They will not be limited to just some areas of our country. The world economy and political system will share in the chaos about to be unleashed.

Though the world has long suffered from the senselessness of wars that should have been avoided, my greatest fear is that the course on which we find ourselves will bring even greater conflict and economic suffering to the innocent people of the world-unless we quickly change our ways.

America, with her traditions of free markets and property rights, led the way toward great wealth and progress throughout the world as well as at home. Since we have lost our confidence in the principles of liberty, self reliance, hard work and frugality, and instead took on empire building, financed through inflation and debt, all this has changed. This is indeed frightening and an historic event.

The problem we face is not new in history. Authoritarianism has been around a long time. For centuries, inflation and debt have been used by tyrants to hold power, promote aggression, and provide “bread and circuses” for the people. The notion that a country can afford “guns and butter” with no significant penalty existed even before the 1960s when it became a popular slogan. It was then, though, we were told the Vietnam War and a massive expansion of the welfare state were not problems. The seventies proved that assumption wrong.

Related articles and videos:
Dow suffers worst 1st half since ‘70
Fortis Bank Predicts US Financial Market Meltdown Within Weeks
Barclays warns of a financial storm as Federal Reserve’s credibility crumbles
Jim Rogers: Avoid The Dollar At All Costs
Ron Paul on Iran and Energy June 26, 2008
Marc Faber: ‘Misleading’ Fed Should Let Banks Fail

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Jun 29

The June 2008 Dow Crash
and the coming first strike attack on Iran
herald the end of dollar hegemony.

BREAK-DOW!

They say that pictures speak a thousand words, so let’s start this with a picture:

Today, the Dow crashed through its eight-year support level at 11,750. There isn’t much below now to keep it from dropping all the way back down to the 7,500-range. What that will do to American investor psychology and worse, consumer confidence, and therefore spending, and therefore the economy, is only too apparent.

The gold-attack on Monday obviously didn’t take. Gold recovered the following day and powered up by $26 the very next day to close in NY at $911. On Friday, gold confirmed its breakout, which means there will be little holding it back – just like there is now very little that’s holding the Dow up.

Unsurprisingly, the US war machinery is in full swing at this time. Troop and military asset movements into the Iranian theater are nearly complete, the Israelis have flown their practice-attack of 100-plus fighter jets over the Mediterranean, and Congress has again prostrated itself before its banking-guild rulers who want total government (and therefore banking) of all economic activity.

Congress did this by passing the FISA Amendments Act of 2008 to give retroactive immunity to telcoms spying for the government, and by proposing a resolution (the already infamous H. Con. Res. 362) by which Congress demands that Bush completely blockade Iran in order to force it to stop enriching uranium. This, naturally, is a perfect setup for unleashing the long-planned bombing campaign on Iran. Congressmen know that Iran will not accede to these international demands.

End result: We will probably get another war because of all this, just like we got one back in 2002-03 when the Dow plunged into the chasm this recently broken support level has bridged for these past eight years (see chart above).

The problem is that this time, it is a bipartisan gang of US war mongers in our Congress who all appear hell-bent on forcing Bush to attack Iran with a preemptive strike, possibly even an unprovoked nuclear first strike – something that human history so far has not had to deal with.

It is also something that will cause the US to forfeit any legitimate claims of world leadership for the remainder of that history.

The War Currency

Wars are rarely fought over national security issues, as political leaders often claim. At rock bottom, they are mostly fought over economic issues.

Iraq and Iran (if Congress and the administration get their way) are the only two countries the US has ever attacked preemptively. They are also the only two oil-producing countries that ever went off the petrodollar. The alleged nuclear ambitions of a terrorist-sponsoring country cannot be the real reason for the planned attack – because terrorist-sponsor North Korea was not only allowed to develop nuclear weapons unmolested, it was even allowed to test-launch a potentially nuclear-tipped ICBM at the US without any military repercussions whatsoever.

There goes the “national security” rationalization for this planned attack.

This fact exposes the attacks for what they really are. tools of US monetary policy. The dollar has no real value internationally, save for the fact that the now militarily enforced necessity for countries to buy dollars in order to buy oil creates artificial demand.

The euro’s existence threatens all of this, now. Oil countries have a dollar-alternative in the euro, and so does the rest of the world. The euro is designed to not be quite as inflationary as the dollar is and has been. This is done by virtue of the ECB’s exclusive mandate of “price stability”, another word for inflation fighting.

Yet Another War Currency

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Jun 28

BRUSSELS / AMSTERDAM (DFT) – Fortis expects within the next few days to weeks to complete the collapse of the U.S. financial markets.

That explains the bank insurers interventions of the series Thursday at dealing with € 8 billion.

“We are ready at the last minute. It goes in the United States much worse than thought, “said Fortis chairman Maurice Lippens, who maintains that CEO Votron to live. Fortis expects bankruptcies of 6000 U.S. banks that now lack coverage. “But Citigroup, General Motors, there begins a complete meltdown in the U.S..”

Fortis took yesterday € 1.5 billion with a share issue. At the end of last year was the Belgian-Dutch group € 13 billion of new shares for the takeover of ABN Amro, for which it paid € 24 billion. Lippens bases its concern on interviews with bankers. “Two months ago we knew not so bad that it is in America. And it will be much worse. We have a thick mattress needed for the next eighteen months to come when we can bring to ABN Amro. ”

Two weeks ago reported the U.S. investment bank and adviser to Fortis Merrill Lynch certainly € 6.2 billion in additional capital was needed. The VEB yesterday demanded clarification of Fortis: CEO Jean-Paul Votron stopped in late april Fortis maintains that after the purchase of ABN Amro does not need on the capital market. In one year € 30 billion in market capitalization destroyed. After Votron last confession kelderde the share price by 19.4%, although yesterday climbed by 4.4% to € 10.65.

The massive unrest around the bank insurers, especially with our neighbours in Belgium as a bomb broken. While the fuss arose in the Netherlands to the limited financial world, it is with our neighbours the call of the day. Not only is the bank dominates the streetscape, but by the mokerslag for the Belgian volksaandeel are also hundreds of thousands of small investors hit hard.

All Belgian newspapers opened yesterday with real rampenkoppen, where the free fall of the bank insurers was wide coverage. ‘Fortis crashes, “” Rampdag for Fortis’ and’ Fortis loses 5.3 billion, “opened three leading newspapers.

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Jun 19

June 19 (Bloomberg) — High-net worth individuals, those coveted financial-services customers with at least $2 million to invest, are shifting assets from brokerages and large global banks to smaller, more conservative alternatives.

“For the first time in my career, I saw concern about the location of one’s assets,” said Robert Balentine, the head of Wilmington Trust Corp.‘s investment management group. “We’ve seen tangible evidence of very wealthy clients shifting assets out of brokerage firms in great numbers.”

Trust companies like Wilmington are benefiting from record subprime-infected losses at companies led by Zurich-based UBS AG, the world’s biggest money manager for the rich. UBS clients probably withdrew a net $39 billion during the past three months after the company reported more than $38 billion of writedowns and credit-market losses in the past year, London-based analysts at JPMorgan Chase & Co. estimate.

Clients may say “if UBS can’t manage its own capital, then what the hell are they going to do with mine?” said David Maude, a financial services consultant in Verona, Italy, who calls UBS the “Rolls Royce” of the industry. “It does tarnish their reputation, certainly.”

UBS contacted 2.5 million Swiss consumer and wealth- management customers last month after losing 11.5 billion francs ($10.9 billion) in the first quarter and seeing a net withdrawal of 12.8 billion francs in its asset and wealth-management units.

The company has responded with “proactive, ongoing communication” with clients, said Jim Pierce, co-head of UBS’s U.S. Wealth Management Advisory Group, in an e-mailed response to questions. UBS is “willing to have the difficult conversations,” Pierce said.

U.S. Market

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Jun 19

The Royal Bank of Scotland has advised clients to brace for a full-fledged crash in global stock and credit markets over the next three months as inflation paralyses the major central banks.

“A very nasty period is soon to be upon us – be prepared,” said Bob Janjuah, the bank’s credit strategist.

(Got Gold and Silver? More under “Solution– The Infinite Unknown)

A report by the bank’s research team warns that the S&P 500 index of Wall Street equities is likely to fall by more than 300 points to around 1050 by September as “all the chickens come home to roost” from the excesses of the global boom, with contagion spreading across Europe and emerging markets.

Such a slide on world bourses would amount to one of the worst bear markets over the last century.

  • RBS alert: Quotes from the report
  • Fund managers react to RBS alert
  • Support for the euro is in doubt
  • RBS said the iTraxx index of high-grade corporate bonds could soar to 130/150 while the “Crossover” index of lower grade corporate bonds could reach 650/700 in a renewed bout of panic on the debt markets.

    “I do not think I can be much blunter. If you have to be in credit, focus on quality, short durations, non-cyclical defensive names.

    “Cash is the key safe haven. (No way!!! Yet it is still good to have some cash. – The Infinite Unknown)
    This is about not losing your money, and not losing your job,” said Mr Janjuah, who became a City star after his grim warnings last year about the credit crisis proved all too accurate.

    RBS expects Wall Street to rally a little further into early July before short-lived momentum from America’s fiscal boost begins to fizzle out, and the delayed effects of the oil spike inflict their damage.

    “Globalisation was always going to risk putting G7 bankers into a dangerous corner at some point. We have got to that point,” he said.

    US Federal Reserve and the European Central Bank both face a Hobson’s choice as workers start to lose their jobs in earnest and lenders cut off credit.

    The authorities cannot respond with easy money because oil and food costs continue to push headline inflation to levels that are unsettling the markets. “The ugly spoiler is that we may need to see much lower global growth in order to get lower inflation,” he said.

  • Morgan Stanley warns of catastrophe
  • More comment and analysis from the Telegraph
  • “The Fed is in panic mode. The massive credibility chasms down which the Fed and maybe even the ECB will plummet when they fail to hike rates in the face of higher inflation will combine to give us a big sell-off in risky assets,” he said. Continue reading »

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    Jun 11

    The Bank for International Settlements (BIS), the organisation that fosters cooperation between central banks, has warned that the credit crisis could lead world economies into a crash on a scale not seen since the 1930s.

    In its latest quarterly report, the body points out that the Great Depression of the 1930s was not foreseen and that commentators on the financial turmoil, instigated by the US sub-prime mortgage crisis, may not have grasped the level of exposure that lies at its heart.

    According to the BIS, complex credit instruments, a strong appetite for risk, rising levels of household debt and long-term imbalances in the world currency system, all form part of the loose monetarist policy that could result in another Great Depression. Continue reading »

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    Mar 22

    Stock Veterans Granville, Stovall Predict More Losses

    March 17 (Bloomberg) — Joseph Granville and Robert Stovall, octogenarians who’ve seen every financial market downturn since the 1950s, say the current one may be the worst and is far from over.

    Granville, born in 1923, remembers his banker father’s bad moods following the stock-market crash of 1929. The younger Granville began his career at defunct brokerage E.F. Hutton in 1957, quit in 1963 to begin publishing a weekly newsletter and wrote nine books on investing.

    “We’re in a crash,” Granville, 84, said in a telephone interview from Kansas City, Missouri, where he lives and works. “This is the worst I’ve seen, and I’ve studied every bit of history all my life.”

    U.S. stocks plunged to the lowest since July 2006 today after JPMorgan Chase & Co.’s purchase of Bear Stearns Cos. for less than a 10th of its market value sent financial shares falling around the world. The Standard & Poor’s 500 Index neared a so-called bear market drop of 20 percent from its Oct. 9 record. Continue reading »

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