We discuss ‘vaporwealth’, which much like ‘vaporware’ is a product or a net worth, in this case, which is never manufactured, but is, instead, either stolen or magically created on the Fed’s balance sheet. In the second half, Max interviews Liam Halligan of BNE.eu about the economic situation in Europe and how Nicola Sturgeon is the new existential boogie man for the tabloids.
We discuss volatility shifting the unhedged part of the economy – namely the incomes of the bottom 99 percent of the population. In the second half, Max interviews Nick Williamson, CEO of Pythia, about his new product called Credits, which is the first blockchain technology to be used by a government – in this case, the Isle of Man, to register cryptocurrency companies on the island.
A kangaroo court in the Fasco-Communist Police State of America, just now, has decided that a man who had never hurt another human being, who created a way for voluntary individuals to trade any item they wish in a much safer environment than in the streets and provided nothing but value to others will be sentenced to life in a work/rape camp in the biggest gulag system on Earth today.
Ross Ulbricht, a founder of the Silk Road website, was sentenced to life in prison and, to add insult to injury, ordered to pay $183,961,921 in forfeiture in what is clearly the US government trying to use fear/terrorist tactics in trying to ensure that no US slave (citizen) ever tries to cut into the CIA’s drug running monopoly. Read more ›
No one is pushing harder to pass the multi-national corporate giveaway masquerading as a free trade deal, known as the Trans-Pacific Partnership (TPP), than Obama’s top trade representative, Michael Froman. Therefore, we probably should know a little bit about him. What do you know? Probably not much.
Three charts crystallize the healthcare dynamics that are dooming the U.S. economy. The first depicts the runaway growth of healthcare costs–a rapid expansion that is a permanent feature of U.S. healthcare, regardless of which party is in office or what reforms are instituted.
This expansion of costs has many drivers, most of which result from the system’s perverse incentives for fraud, overbilling, marginal treatments and defensive medicine.Technological and medical advances offer more options for treatment, and can push costs up–but advances can just as readily push costs down, too.
The primary drivers of rapidly increasing costs are:
- Debt load of many countries is an economic risk - Ageing populations in developed world to put pressure on economies - Goldman proposes “creative” social policy to deal with looming crisis - Entire debt-based monetary system needs reform
The debt burden – particularly in “developed” countries – along with ageing populations pose a risk to the economies of those countries, Goldman Sachs has warned. Andrew Wilson, Goldman Sachs Asset Management’s chief executive in Europe said, “There is too much debt and this represents a risk to economies. Consequently, there is a clear need to generate growth to work that debt off but, as demographics change, new ways of thinking at a policy level are required to do this.”
Japan, as an example of a major economy, now has a government debt-to-GDP ratio of over 200%, which Wilson says is “not sustainable over the long term.” Other countries with very high debt loads include the U.S., most of Europe and Brazil. Read more ›
One of the most difficult things for me, personally, is seeing what is going on, knowing (more or less) where it is going and then talking to people who have no idea what is going on and are absolutely unprepared.
I often receive messages via email, through our website or on places like Facebook, which say, “I currently live in the US and survive on a pension that pays me $3,000/month which doesn’t go very far in the US and so I want to look at expatriating to a cheaper and nicer locale, what should I do?” Read more ›
The aggravated global financial situation is working toward a series of powerful climax events. It cannot be saved. It is cratering. It is rotting from the inside. It is fracturing.It will fail. The fiat paper currency system and its many attendant systems are seizing up, being rejected, and are failing in what has begun to be the grandest financial event in modern history. Last weekend,the Chinese announced the creation of a new 100 billion Yuan fund which will operate more like a window to convert sovereign bonds to Gold bullion in very high volume. The target is the ever-present toxic USGovt debt paper cluttering and contaminating the global banking system.The conversion to Gold bullion will be seen as a declaration of financial war.We are entering a new phase. In 2006 my work warned that China will move from outsourced producer to trade partner, then to trade rival, finally to opponent in trade war.They are moving to executioner of the King Dollar. Click here for the latest Hat Trick Letter on China Moving to Executioner of King Dollar:
- War “inevitable” if U.S. meddles in South China Sea – Global Times - Senior NATO officialwarns that “we’ll probably be at war this summer” - Soros warns of ‘New World Order’ and war with China - Soros warns could be “on the threshold of a Third World War” - Many countries in Pacific lay claim to strategically important and mineral rich islands - Tensions between U.S. and China and Russia escalating - War would have many facets including cyber-warfare and currency wars
The ‘war’ word is being increasingly heard internationally as the U.S., EU, Russia and China adopt provocative postures over various disputes including Ukraine and in the Pacific.
War with the U.S. is “inevitable” if the U.S. involves itself in the dispute which has arisen over the Spratley Islands in the South China Sea according to China’s state controlled newspaper the Global Times. Read more ›