2010: Giant Gathering Storm Clouds
The blind, the deficient, and the compromised fail to fully appreciate and detect the meaning of the Dubai debt default or the Iceland financial failure. They actually believe these busts have been dealt with by the very strength of the capitalist system. These default failures signify a continuation of the credit market crisis that never went away.
This will be the year of magnificent crises that change the face of the global financial structures. Debt will be dumped like a broken Vegas gambler. Paper money will be discarded like yesterday's newspaper.
Read the rest of the article for all the good news and predictions for 2010. Happy New Year!
Friday, 15 January 2010
Thursday, 14 January 2010
Thursday, 7 January 2010
Wednesday, 6 January 2010
Cuba of the North
Angry Iceland defies the world
Iceland's president has blocked a Bill to pay Britain and Holland up to £3.4bn for Icesave depositors, acknowledging that popular feeling in the island nation is too strong to proceed without a referendum.
The reality is that Icelanders have erupted in collective rage at what they believe to be gross injustice and "gunboat diplomacy" by Downing Street. What rankles is Britain's use of anti-terrorism law to freeze Iceland's assets. The Icelandic central bank was listed besides al-Qaeda as a terrorist body – unprecedented treatment for a NATO ally. Holland was careful not to go so far.
"Importers couldn't get trade finance for food. We feel deeply wronged," said Johannes Skulason from InDefence. Shelves were bare for weeks in Icelandic shops as the banking system disintegrated.
Watch the IMF and banking community start their dirty tricks to force Iceland to play the game!
Iceland's president has blocked a Bill to pay Britain and Holland up to £3.4bn for Icesave depositors, acknowledging that popular feeling in the island nation is too strong to proceed without a referendum.
The reality is that Icelanders have erupted in collective rage at what they believe to be gross injustice and "gunboat diplomacy" by Downing Street. What rankles is Britain's use of anti-terrorism law to freeze Iceland's assets. The Icelandic central bank was listed besides al-Qaeda as a terrorist body – unprecedented treatment for a NATO ally. Holland was careful not to go so far.
"Importers couldn't get trade finance for food. We feel deeply wronged," said Johannes Skulason from InDefence. Shelves were bare for weeks in Icelandic shops as the banking system disintegrated.
Watch the IMF and banking community start their dirty tricks to force Iceland to play the game!
Wednesday, 11 November 2009
Money Toilet Paper
$100 Dollar Bill Toilet Paper
If you want to show your contempt for currency and feel that the dollar is devalued, you can use it to wipe your bottom on and express your true feelings about the state of the financial system!
Also available in euros.
If you want to show your contempt for currency and feel that the dollar is devalued, you can use it to wipe your bottom on and express your true feelings about the state of the financial system!
Also available in euros.
Toilet Paper Money
Fiat Currency: Using the Past to See into the Future
The history of fiat money, to put it kindly, has been one of failure. In fact, EVERY fiat currency since the Romans first began the practice in the first century has ended in devaluation and eventual collapse, of not only the currency, but of the economy that housed the fiat currency as well.
A short article explaining what happens when banks create money out of thin air.
The history of fiat money, to put it kindly, has been one of failure. In fact, EVERY fiat currency since the Romans first began the practice in the first century has ended in devaluation and eventual collapse, of not only the currency, but of the economy that housed the fiat currency as well.
A short article explaining what happens when banks create money out of thin air.
Wednesday, 14 October 2009
Fiat money alchemy
Gold Coin Vending Machine Offers Profit in Case of a Bank Run
The Stuttgart-based company just unveiled its first prototype at the Frankfurt airport, which offers a 1g gold wafer for €30, a 10g bar for €245, or gold coins. The machines are wired to monitor current gold prices and adjust their rates accordingly.
Thomas Geissler, who owns TG-Gold-Super-Markt, told The Telegraph, "German investors have always preferred to hold a lot of personal wealth in gold, for historical reasons. They have twice lost everything. Gold is a good thing to have in your pocket in uncertain times.
Doesn't it seem kind of twisted to make the spectre of a financial crash into a glittering vending machine offering salvation in the event of a bank run?
Can you imagine the scene if banks started putting these things outside their front doors?
The Stuttgart-based company just unveiled its first prototype at the Frankfurt airport, which offers a 1g gold wafer for €30, a 10g bar for €245, or gold coins. The machines are wired to monitor current gold prices and adjust their rates accordingly.
Thomas Geissler, who owns TG-Gold-Super-Markt, told The Telegraph, "German investors have always preferred to hold a lot of personal wealth in gold, for historical reasons. They have twice lost everything. Gold is a good thing to have in your pocket in uncertain times.
Doesn't it seem kind of twisted to make the spectre of a financial crash into a glittering vending machine offering salvation in the event of a bank run?
Can you imagine the scene if banks started putting these things outside their front doors?
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