Congress announces deal to end government shutdown, avoid US default … The deal would extend US borrowing authority until February 7; US Treasury would have ability to extend borrowing capacity … The US Congress settled on a deal to reopen the federal government and avoid default on America's debt just hours before the Treasury Department would have lost its authority to borrow mon...Read More
Why Pierre Omidyar decided to join forces with Glenn Greenwald for a new venture in news … Yesterday word leaked out that Glenn Greenwald would be leaving the Guardian to help create some new thing backed by Pierre Omidyar, the founder of eBay. I just got off the phone with Omidyar. So I can report more details about what the new thing is and how it came to be. Here's the story he told m...Read More
The Schiff Report(10/18/2013)To Download my 2005 housing bubble article, click the link below http://www.europac.net/commentaries/r...To watch the full video of my mortgage bankers speech, click the following link http://www.youtube.com/watch?annotati...In reviewing this video I realized that I did not emphasize the most foolish of Yellen's statements.In her praise of"innovative" mortgage products...Read More
U.S. scholars Eugene F. Fama, Lars Peter Hansen and Robert J. Shiller on Monday won the Nobel Prize in Economics, the Royal Swedish Academy of Sciences announced. The three experts were honored "for their empirical analysis of asset prices." – GlobalPostDominant Social Theme: Economics is a hard science and don't you forget it.Free-Market Analysis: The Nobel Prize was NOT award...Read More
Time to take bets on Frexit and the French franc? … We have a minor earthquake in France. A party committed to withdrawal from the euro, the restoration of French franc, and the complete destruction of monetary union has just defeated the establishment in the Brignoles run-off election. It is threatening Frexit as well, which rather alters the political chemistry of Britain's EU referend...Read More
U.S. scholars Eugene F. Fama, Lars Peter Hansen and Robert J. Shiller on Monday won the Nobel Prize in Economics, the Royal Swedish Academy of Sciences announced. The three experts were honored "for their empirical analysis of asset prices." – GlobalPostDominant Social Theme: Economics is a hard science and don't you forget it.Free-Market Analysis: The Nobel Prize was NOT award...Read More
Time to take bets on Frexit and the French franc? … We have a minor earthquake in France. A party committed to withdrawal from the euro, the restoration of French franc, and the complete destruction of monetary union has just defeated the establishment in the Brignoles run-off election. It is threatening Frexit as well, which rather alters the political chemistry of Britain's EU referend...Read More
The new head of the Federal Reserve: Dove ascendant … Janet Yellen will stick to her predecessor's expansionary policies … an uphill slog awaits. For most of the past few years, monetary policy has urged the economy on while dysfunctional fiscal policy has held it back. Barack Obama's decision to nominate Janet Yellen to succeed Ben Bernanke as the Fed's chairman in Februar...Read More
Breaking BRIC piggy banks … Since 2009 the word "austerity" has not been too far away from the lips of finance ministers across the globe. Deficits and debt-to-GDP ratios around the world surged due to the financial crisis, and it was felt that they were fast becoming unsustainable. Once the immediate danger of the global recession passed politicians across the globe rushed to redu...Read More
The new head of the Federal Reserve: Dove ascendant … Janet Yellen will stick to her predecessor's expansionary policies … an uphill slog awaits. For most of the past few years, monetary policy has urged the economy on while dysfunctional fiscal policy has held it back. Barack Obama's decision to nominate Janet Yellen to succeed Ben Bernanke as the Fed's chairman in Februar...Read More
Breaking BRIC piggy banks … Since 2009 the word "austerity" has not been too far away from the lips of finance ministers across the globe. Deficits and debt-to-GDP ratios around the world surged due to the financial crisis, and it was felt that they were fast becoming unsustainable. Once the immediate danger of the global recession passed politicians across the globe rushed to redu...Read More
Debt Ceiling: China Calls for World to Be 'De-Americanised.' Chinese government mouthpiece says 'Pax Americana' has failed on all fronts … Xinhua calls for de-Americanised world. China's official news agency has called for the creation of a "de-Americanised world", saying the destinies of people should not be left in the hands of a hypocritical nation with a dys...Read More
World top bankers warn of dire consequences if U.S. defaults … Three of the world's most powerful bankers warned of terrible consequences if the United States defaults on its debt, with Deutsche Bank chief executive Anshu Jain claiming default would be "utterly catastrophic" … "This would be a very rapidly spreading, fatal disease," Jain said on Saturday at a co...Read More
Debt Ceiling: China Calls for World to Be 'De-Americanised.' Chinese government mouthpiece says 'Pax Americana' has failed on all fronts … Xinhua calls for de-Americanised world. China's official news agency has called for the creation of a "de-Americanised world", saying the destinies of people should not be left in the hands of a hypocritical nation with a dys...Read More
World top bankers warn of dire consequences if U.S. defaults … Three of the world's most powerful bankers warned of terrible consequences if the United States defaults on its debt, with Deutsche Bank chief executive Anshu Jain claiming default would be "utterly catastrophic" … "This would be a very rapidly spreading, fatal disease," Jain said on Saturday at a co...Read More
A bomb attack Sunday morning derailed a train used by Colombia's biggest coal producer Cerrejon to transport goods to Puerto Bolivar reports Reuters.Cerrejon did not say how long the railway that carries more than 30 million tonnes per year will be out of commission but port exports and mining operations would continue.It is the third such bomb attack on Cerrejon infrastructure - a joint ventur...Read More
People ask me, "How will I sell my silver if the dollar dies, or during chaotic times?" Or, "If there are no dollars, what would I sell my silver for?" Another variation of this question is, "Why would I want silver if I can't spend it?" And advanced traders ask, "What is the exit strategy?" Good questions. I think that part of the reason this is a popular concern about silver is that it's tru...Read More
Obama's national debt rate on track to double … President Obama likes to say that raising the nation's borrowing limit "won't add a dime" to the federal debt, but he neglects to mention that the government already has borrowed the equivalent of more than 60 trillion dimes since he took office. When Mr. Obama became president in January 2009, the total federal debt stood...Read More
UK fracking ambitions threatened by EU warning over methane emissions. The EU authorities have opened a new front in efforts to clamp down on shale gas, warning that the carbon footprint from methane emissions may be high enough to call into question the whole future of fracking in Europe. – UK TelegraphDominant Social Theme: Without Brussels, would the world burn up?Free-Market Analysis: Th...Read More