The monetary tectonic plates are shifting, and predicting the next global financial earthquake is relatively easy.
I recently suggested that the devaluation of the yen was Japan’s Monetary Pearl Harbor: a direct attack on the currencies of its major trading partners: the euro (European Union), the won (South Korea), the Australian dollar (AUD) and the U.S. dollar (USD), which affects both the U.S. and China since China’s currency, the renminbi, is pegged to the USD.
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We knew that the Germans want their gold reserves back in germany. But today Holland reported they secretly transported 122.4 tons of gold back from the USA to Holland.
Officially The Dutch Central Bank (DNB) has ‘adjusted its gold stock location policy’ and has shipped gold from the United States to the Netherlands to ‘spread its gold stock in a more balanced way’.
Read more: Holland gets its gold back from the FED / USA
Read also what Alan Greenspan said in 1966 about gold.
Tagged with: DNB
While 49 state treasuries were submerged in red ink after the 2008 financial crash, one state’s bank outperformed all others and actually launched an economy-shifting new industry. So reports the Wall Street Journal this week, discussing the Bank of North Dakota (BND) and its striking success in the midst of a national financial collapse led by the major banks. Chester Dawson begins his November 16th article:
It is more profitable than Goldman Sachs Group Inc., has a better credit rating than J.P. Morgan Chase & Co. and hasn’t seen profit growth drop since 2003. Meet Bank of North Dakota, the U.S.’s lone state-owned bank, which has one branch, no automated teller machines and not a single investment banker.
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Here’s my proposed change to the words on the base of the Statue of Liberty:
Give me your corrupt, your crony, your oligarch masses yearning to launder money free,
The criminal masterminds of your destroyed environment and police state.
Send these, the pampered, the private jet setter to me, I open my hands to your golden yuan.
Read why and see the video here.
We discuss David Cameron doubling down on failure as ‘global recession looms.’ With a fair and balanced view at Cameron’s claims of ‘paying down government debt,’ we concede that national debt growing from £580 billion in 2007 to £1,400 billion today could, using certain accounting tricks, be seen as the shrinking debt load. In the second half Max interviews Reggie Middleton of BoomBustBlog.com and Ultra-Coin.com about the block chain, the tech sector and more.