Interview by Kerry Lutz of Martin Armstrong

Ecuador hands Goldman Sachs 466,000 ounces of gold worth roughly $580 million at today’s ruling price. Ecuador under its socialist President Rafael Correa is seeking sources of cash after they borrowed over $11 billion from China because they defaulted on $3.2 billion of foreign debt five years ago. This is the consequence of debt and in the […]

There has been a prevailing piece of propaganda used by the dollar-haters to support this idea that the dollar is really the Petrodollar and that the move in the Middle East to create a single currency like the Euro and the Russia-China energy deal will make the yuan soar and the dollar collapse are just […]

The two Daily Bearish Reversals are 1240 and 1186. We are holding the 1240 level for now with a minor Daily Bullish forming at 1262 and 1294. We see a turning point next week and the week of the 23rd. We do not see the meltdown yet without a monthly closing below 1190 area. We also […]

While they have been proud to announce that 77,000 foreign institutional have already signed up before July 1st, they did postpone it until July 2015. Nonetheless, the damage has been done long ago when this was passed. The huge fines they are imposing on foreign banks is further undermining the European and Swiss banking systems […]

QUESTION: Why do governments borrow? Why do they never reduce the debt? Jeff ANSWER: Because they can. They actually think they are the exception to normal economics. People ask all the time, can’t they see this debt crisis? No. When I raise the topic in different discussions with various governments the reply is always the […]

The Senate subcommittee has been examining tax avoidance by multinational companies. Microsoft Corp. (MSFT), Hewlett-Packard Co. and Apple Inc. have all been the subjects of previous hearings by the panel. The 2013 investigation into Apple uncovered a subsidiary that earned $30 billion over four years with no home for tax purposes. The subcommittee also has investigated […]

Unit: US dollar at current prices (Millions) Reporter Flow Indicator Partner 2008 2009 2010 2011 2012 World Exports Agricultural products World 1345661 1181938 1361458 1660517 1656711 World Exports Food World 1117141 1002192 1122197 1360115 1375255 World Exports Fuels and mining products World 3536228 2267786 3021302 4076442 4176457 World Exports Fuels World 2865304 1808745 2345512 3223909 […]

FATCA was coming July 1st  but now it is postponed to July 2015. Still, already some 77,000 banks and foreign firms have signed up to rat-out Americans wherever they hide. While those who hate the “rich” cheer, what has been lost in this proverbial bureaucratic mindless rationalization of the real world is any understanding of how […]

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