- Big Banks Are Being Hit With Cyberattacks “Every Minute Of Every Day” (Economic Collapse, Dec 4, 2013):
What would you do if you logged in to your bank account one day and it showed that you had a zero balance and that your bank had absolutely no record that you ever had any money in your account at all? What would you do if hackers shut down all online banking and all ATM machines for an extended period of time? What would you do if you requested a credit report and discovered that there were suddenly 50 different versions of “you” all using the same Social Security number? Don’t think that these things can’t happen. According to Symantec, there was a 42 percent increase in cyberattacks against U.S. businesses last year. And according to a recent report in the Telegraph, big banks are being hit with cyberattacks “every minute of every day”. These attacks are becoming more powerful and more sophisticated with each passing year. Most of the time the general public never hears much about the cyberattacks that are actually successful because authorities are determined to maintain confidence in the banking system. But if people actually knew the truth about what was going on, they would not have much confidence at all.
- Jim Rogers Cautions “Be Prepared, Be Worried, And Be Careful… This Is Going To End Badly” (ZeroHedge, Dec 4, 2013):
“Eventually, the whole world is going to collapse,” Jim Rogers chides a disquieted CBC anchor as he explains the reality that, “we in the West have staggering debts. The United States is the largest debtor nation in the history of the world,” adding that “this is going to end badly.”
- The Complete And Unabridged History Of Gold Manipulation (ZeroHedge, Dec 4, 2013):
On November 1st, 1961, an agreement was reached between the central banks of the United States and seven European countries to cooperate in achieving a shared, and very clearly stated, aim.
The agreement became known as the London Gold Pool, and it had a very explicit purpose: to keep the price of gold suppressed “under control” and pegged regulated at $35/oz. through interventions in the London gold market whenever the price got to be a little… frisky.
The construct was a simple one.
The eight central banks would all chip in an amount of gold to the initial “kitty.” Then they would sell enough of the pooled gold to cap any price rises and then replace that which they had been forced to sell on any subsequent weakness.
*Statement is subject to standard terms and conditions and is not necessarily reflective of any evidence. Government entities are excluded from inclusion based on the fact that we can’t really do anything about them and anyway; they could put us out of business; and it would make things really, really bad for them. Also, bullion banks are not covered under this statement because we were told to turn a blind eye; but individual investors are, and we can categorically confirm that, to the best of our knowledge, no individuals are manipulating the precious metals markets (at this time).
But, as Grant Williams explains in this excellent and complete summary of the history of Gold price manipulation, things don’t always go as planned… Continue reading »
- Too Big To Fail Banks Are Taking Over As Number Of U.S. Banks Falls To All-Time Record Low (Economic Collapse, Dec 3, 2013)
- Top 10 Highest Paid CEOs (TIME, Dec 4, 2013):
10. Gerald Rubin
Company: Helen of Troy
Compensation: $41.6 million
Helen of Troy, which distributes name brands like Brut and Pert Plus, posted record sales in its fiscal year ending in February 2013, helping its CEO Gerald Rubin take home nearly $29 million in performance-based stock options. Of the country’s most lavishly paid CEOs, according to data compiled by FindTheCompany.com, none are are women. Continue reading »
- Federal Government Sued Raisin Farmer For Selling His Own Product (Wealthy Debate, Dec 4, 2013):
Meet Marvin Horne, raisin farmer. Horne has been farming raisins on a vineyard in Kerman, Calif., for decades.But a couple of years ago, he did something that made a lot of the other raisin farmers out here in California really angry. So angry that they hired a private investigator to spy on Horne and his wife, Laura. Agents from a detective agency spent hours sitting outside the Hornes’ farm recording video of trucks entering and leaving the property.
What did the Hornes do to become the subject of a surveillance campaign? They sold raisins. More specifically, they sold all the raisins they produced.
From the article:
“… Mumbai customs offers a reward of up to 50,000 rupees per kg of bullion seized for informers in gold smuggling cases. Cocaine and heroin informers get only up to 40,000 rupees and 20,000 rupees respectively.“
- Gold Smuggling Increases 7x in India and Surpasses Illegal Drug Trade (Liberty Blitzkrieg, Dec 4, 2013):
The absurd “War on Gold” that India has launched this year has been covered many times on this site. From the moment I read about it, it was obvious that if Indians want their gold, the Indians will have their gold. You can’t break thousands of years of tradition and culture because of the ignorant whims of a few bureaucrats.
Earlier today, Reuters published an article detailing the extent to which Indian smugglers will go in order to bring the money of kings into the country. This includes hiding it in underwear, swallowing it whole and even painting gold staples gray. What is most disturbing is the lengths authorities are willing to go to in order to stop a supposedly free people from buying a brick of metal.
(Reuters) – Indian gold smugglers are adopting the methods of drug couriers to sidestep a government crackdown on imports of the precious metal, stashing gold in imported vehicles and even using mules who swallow nuggets to try to get them past airport security.
- Food poverty in UK has reached level of ‘public health emergency’, warn experts (Independent, Dec4, 2013):
Hunger in Britain has reached the level of a “public health emergency” and the Government may be covering up the extent to which austerity and welfare cuts are adding to the problem, leading experts have said.
In a letter to the British Medical Journal, a group of doctors and senior academics from the Medical Research Council and two leading universities said that the effect of Government policies on vulnerable people’s ability to afford food needed to be “urgently” monitored.
- US Retailer Hell In One Chart (ZeroHedge, Dec 4, 2013):
The chart below from the WSJ, summarizes perfectly the hell that US retailers find themselves in. In brief: sales down and inventories soaring, means liquidation sales have to surge, while profits and cash flows crater.
Simeon Siegel, an analyst with Nomura Equity Research, looked at the inventory carried by those and other specialty-apparel retailers at the end of the third quarter and compared it with his projections for the chains’ fourth quarter sales. He found that in most cases inventory growth far outpaced sales growth. Normally, the two should be growing about the same. “The ratios are the worst we have seen in quite a while,” Mr. Siegel said. Continue reading »
- Is Bob Shiller Right? Mortgage Applications Collapse Back To 5 Year Lows (ZeroHedge, Dec 4, 2013)
- Wow – The Holiday Shopping Season Is Off To A Horrible Start (Economic Collapse, Dec 2, 2013):
According to the National Retail Federation, Americans spent an average of 4 percent less over the four day Thanksgiving weekend than they did last year. Overall, that means that approximately $1.7 billion less was spent at U.S. retailers compared to last year. It had already been projected that this holiday shopping season would be the worst for retailers since 2009, but if these numbers are any indication it may be even worse than expected. So why is this happening? Well, basically the American consumer is tapped out. The unemployment crisis in this country is actually getting worse, poverty is absolutely exploding and the middle class is being systematically eviscerated. In other words, you can’t get blood out of a stone. Many retailers are offering extreme discounts in a desperate attempt to lure more shoppers, but the money simply isn’t there.
- 15 Signs That We Are Near The Peak Of An Absolutely Massive Stock Market Bubble (Ecoonomic Collapse, Dec 1, 2013):
One of the men that won the Nobel Prize for economics this year says that “bubbles look like this” and that he is “most worried about the boom in the U.S. stock market.” But you don’t have to be a Nobel Prize winner to see what is happening. It should be glaringly apparent to anyone with half a brain. The financial markets have been soaring while the overall economy has been stagnating. Reckless injections of liquidity into the financial system by the Federal Reserve have pumped up stock prices to ridiculous extremes, and people are becoming concerned. In fact, Google searches for the term “stock bubble” are now at the highest level that we have seen since November 2007. Despite assurances from the mainstream media and the Federal Reserve that everything is just fine, many Americans are beginning to realize that we have seen this movie before. We saw it during the dotcom bubble, and we saw it during the lead up to the horrible financial crisis of 2008. So precisely when will the bubble burst this time? Nobody knows for sure, but without a doubt this irrational financial bubble will burst at some point.
Remember, a bubble is always the biggest right before it bursts, and the following are 15 signs that we are near the peak of an absolutely massive stock market bubble: Continue reading »