| Barrel, meet Bottom |
|
 |
|
Not a lifetime ago, it was 1965, CANADA had virtually no debt, the dollar exchanged at par or better to the 'gold-backed' greenback, banks could only fractionalize 6 dollars from 1, and believe it or not, the federal tax on " income " was hardly noticed (the scheme by which we are all sorta "employed" by CANADA was only 3 years old). Can you imagine? Now add to this social utopia, CANADA used their own bank from time to time AND held in reserve more than 32,000,000 million ounces of gold, among the top 10 'nations' on Earth. Well last week, the tragic tale that this number had dropped again, and is now less that 99.9% of what it once was, flew over the heads of many, some even cheering the reported off-loading of 74,000 gold coins -- prices are high right, surely the 'money' is better invested elsewhere. Seriously?! Well it didn't skate past me, it reminded me of two things: First, that CANADA and Canadians have taken from the 'gold cartel' as brutal an arse-ripping as any people or country on Earth -- the gold is gone, virtually all of it used to bail-out the paper sellers on Wall Street over the past few decades; and second, it reminded me of how DESPERATELY SHORT of physical metal the cartel must be today to ring-up the new band of bureaucrats in Ottawa for a measly $75 million (not billion) worth of gold. It also caused me to wonder why the cartel has "leased" the gold of nations like France and Germany, allowing for the gold to at least stay on the books, and why CANADA gets no respect at all, unable to disguise the theft with paper in any way? I also wonder why in Germany a huge effort continues to repatriate their sovereign gold from the Banksters in New York, but here at home the Treasury is so easily raided, not a peep from the people? Here's your cheque Canada, can you get those coins out on a FedEx tomorrow please. Like stealing candy from a baby. The unfortunate fact that Canada's gold could now fit in my wife's purse should cause all Canadians to consider our bets on this bankrupt corporation, on their bonds and their bills, especially as it goes deeper and deeper into debt, completely naked of any gold (not even any paper gold), and seemingly oblivious to the financial terror on the horizon. The timing of this gold raid disguised as a sale is no coincidence my friends, 'they' are staring straight into the bottom of the barrel, and there's nothing; the gold has been 'washed away' ... happy frkn shemitah Canada.
Deranged Central Bankers Blowing Up The World
With $142 trillion of global debt enough to collapse the global economy in 2008, only a lunatic would implement a "solution" that increased global debt to $212 trillion over the next seven years thinking that would solve a problem created by too much debt. The desperation is borne out by the frantic reckless measures taken by central bankers and politicians since 2008: 637 rate cuts since Bear Stearns; $12.3 trillion of asset purchases by global central banks; $8.3 trillion of global government debt currently yielding 0% or less; 489 million people currently living in countries with official negative rates policies (i.e. Japan, Eurozone, Switzerland, Sweden, Denmark)
Bass: "Fasten Your Seatbelts"
China's banking system, Bass told CNBC, is a $34 trillion ticking time bomb, and when it explodes, Beijing will need to plug the holes. $3.3 trillion in FX reserves will be woefully inadequate, he contends.
"Very few people have looked at what the cause of the problem is," Bass begins. They've let their banking system grow 1000% in 10 years. It's now $34.5 trillion."
Summers: "It's Time To Kill The $100 Bill"
So with one regulation, the Fed - if it listens to this Harvard charlatan, and it surely will as more and more "academics" get on board with the idea to scrap paper money - could eliminate the value of 78% of all currency in circulation, which in effect would achieve practically the entire goal of destroying the one paper alternative to digital NIRP rates, in the form of paper currency.
Stockman: "I don't Know What The Bulls Are Smoking"
"Everywhere trade is drying up, shipping rates are at all-time lows," he said. "There is a recession that's going to engulf the entire world economy, including the United States." Contributing to the turmoil is the ineptitude of central banks, he said. "They should have the good graces to resign. They are lost. None of this is helping the economy," he said.
German 'bail-in' Plan Risks Blowing up the Euro
A new German plan to impose "haircuts" on holders of eurozone sovereign debt risks igniting an unstoppable European bond crisis. "It is the fastest way to break up the eurozone," said Professor Peter Bofinger, one of the five "Wise Men" on the German Council of Economic Advisers."A speculative attack could come very fast. If I were a politician in Italy and I was confronted by this sort of insolvency risk I would want to go back to my own currency as fast as possible, because that is the only way to avoid going bankrupt," he told The Telegraph.
Happy to Help ...
Silver and Gold in physical form are unencumbered wealth, free of counter-party risk, and of all liability when your broken Government or Zombie bank blows up. I invite you to contact me for the very best pricing and discreet, informed service.
Banks Selling Energy Loans At Cents On The Dollar
Oilfield Service companies have reduced headcount by as much as 35% in some cases and the reductions continue as oil prices not only continue their decline but the argument for a strong price comeback gets more and more difficult to rationalize. It is estimated that 250,000 people have lost their jobs in the industry in the last 18 months. There are reports of banks selling loans at cents on the dollar to try and ensure their own survival and bankruptcy courts and workout specialists are seeing their best market in decades.
After The European Bank Bloodbath, Is Canada Next?
RBC analysis assumes that 7% loss reserves are sufficient to offset loan losses in what is shaping up as the biggest commodity crash in history. We wish we could be as confident as RBC that this is sufficient, however we are clearly concerned that if and when Canada's banks finally begin to write down their assets and flow the impairments though the income statement, that things could go from bad to worse very quickly.
|
Sovereign Exchange International Ltd.
Steven Merrill, President
www.sovereigncoin.net
phone:
778.835.7667
|
|
Engage a Rich New Audience; Reconcile to your Private Account; Settle for Metal at Any Time. The Sovereign Exchange was founded by Steven Merrill and a small network of individuals from across British Columbia with a vision to embrace Austrian economic principles and provide a sound payment facility than be trusted for commerce and used to store wealth.
|
|
|