One of the important developments is the Stockton, California bankruptcy. The jurisdiction for bankruptcy is federal court, not state. This is rather significant and the law is really clear, there are no exceptions among creditors under bankruptcy. A federal judge earlier this week gave the green light to Stockton, Calif. to restructure under bankruptcy protection […]

Our phones have been in meltdown mode and sleep has been rarer than gold around here. Whatever politicians could do to screw up the world, trust me, they are diligently at work to accomplish that goal even ahead of schedule. The logic coming from the ECB, France, and Germany leaves a lot to be desired. […]

The fact that the German Finance Minister Wolfgang Schaeuble has come out stating that savings accounts within the Eurozone are “safe” claiming  that Cyprus was a “special case” and not a template for future rescues, proves that in fact the Eurozone deposits are ABSOLUTELY NOT SAFE! You never state a negative unless there is reason to do […]

George Warren (1874-1938) In 1932, George Warren had written, Wholesale Prices for 213 Years; 1720-1932. Effectively, this work was a forerunner to Monetary Theory by making observations that prices rose with the gold discoveries and declined when supplies of gold declined. This work was a simplistic monetary view of the world that Franklin Roosevelt could […]

Copyright March 26th, 2013 All Rights Reserved We are on the verge of a real crack in the Euro. So far the intraday low is 128.27 on the spot and we have a Weekly Bearish Reversal at 128.24 with a GAP down to 121.37.  As always, the political forces and academic factions are unfamiliar with […]

Copyright March 21, 2013 all rights reserved By Martin Armstrong The Cyprus event is the key to geopolitical survival of Europe. There is a substantial difference between Russia and China. Russia lost territory and as such needs to reestablish its “empire” that it sees as territory not economic power as does China. That means that […]

There has been at least one universal principle that has been fundamental up until now that the savings of ordinary people should be protected in these bank failures, up to a threshold of 100,000 euros in the European Union or 100,000 dollars in the United States. There has been also a key fundamental principle that […]

Often what is reported in the press is the synthetic-homogenized version of facts it is hard to say who they are really trying to fool, the people or government regulators who as Madoff said are stupid. I have no time for such nonsense. Wild stories of grand conspiracies that claim there are people pulling the strings […]

Only about half of U.S. states met their forecasts for withheld taxes in February after taxpayers made last-minute financial moves in 2012 for fear of having to pay higher federal tax rates in 2013 that befuddled politicians. Tax revenues rose about 5.7% during the last quarter as people took profits and companies moved forward bonuses […]

http://www.reuters.com/article/2013/03/07/us-japan-economy-nishimura-idUSBRE9260AX20130307 The deputy governor of the Bank of Japan admitted that if yields rise 1 percentage point and they will lose 2.3 trillion yen. This is just the tip of the iceberg. We face a tremendous nightmare. Interest rates have been brought down artificially so low to bailout the bankers, that they have really screwed […]