Wednesday, September 7, 2011
Egon von Greyerz - Redux
With the Swiss National Bank 'pegging' the Franc to the carcass of the Euro yesterday I thought it was timely to repeat the extremely prescient discussion between Egon von Greyerz, who is part of the Swiss establishment, and James Turk for their thoughts on Switzerland and Gold.
Paul Craig Roberts - 'Gold and Silver are the only Safe Havens'
Wall Street fell for a third straight day on worries that Europe can't take care of its debt dilemma. Many Europeans are trading in their euros for Swiss francs. Now the Swiss National Bank has put a minimum exchange rate of 1.20 francs to the euro. The reason is the present value of the franc is a danger to the financial system. The SNB said it would implement the minimum rate by buying foreign currency in unlimited quantities. Paul Craig Roberts, former Reagan administration official and columnist, tells us how this could affect the world economy.
So that is where some of the Libyan Gold went
BENGHAZI, Libya, Sept 6 (Reuters) - Loyalists of ousted Libyan leader Muammar Gaddafi crossed into Niger late on Monday in a convoy of vehicles, carrying gold and cash, officials from Libya's interim ruling National Transitional Council (NTC) said on Tuesday. "Late last night, 10 vehicles carrying gold, euros and dollars crossed from Jufra into Niger with the help of Tuaregs from the Niger tribe," Fathis Baja, head of the NTC committee for political and international affairs, told Reuters.
Tuaregs are nomadic people who live on both sides of the frontier......read on
Niall Ferguson interviewed
Financial Thought Leader Niall Ferguson discusses why the centuries long dominance of Western economic and political power is waning and what the United States needs to do prevent it from slipping even more.
Euro Revolt
Italy's biggest trade union is vowing that up to a million will march against the harsh new austerity package being debated in Rome. Italy's teetering over its massive debts. And, as one of Europe's biggest economies, its troubles threaten to destabilise the Eurozone and spur a new financial crisis. The removal of several controversial provisions, such as a temporary tax on the wealthy, sent markets into a spin, and sparked rumours of an imminent credit rating downgrade. Across the Ionian Sea, efforts to further rescue the Greek economy took a hit after Athens admitted it won't be able to meet deficit reduction deadlines. And Nicolas Dupont-Aignan, who was a member of France's ruling party until 2007, believes they're the consequences of a currency system that cannot work.
Keiser Report: Fake Assets
By RussiaToday on Sep 6, 2011
This week Max Keiser and co-host, Stacy Herbert, discuss 'toxic assets' that are really 'fake assets' and about bankers still expecting the taxpayer to bail them out when trading these 'fake assets' goes horribly wrong. In the second half of the show Max talks to artist Alex Schaefer about his incendiary artwork - Chase Burning.
This week Max Keiser and co-host, Stacy Herbert, discuss 'toxic assets' that are really 'fake assets' and about bankers still expecting the taxpayer to bail them out when trading these 'fake assets' goes horribly wrong. In the second half of the show Max talks to artist Alex Schaefer about his incendiary artwork - Chase Burning.
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