That has been the proposition that antiquities were being looted to fund terrorists. There really has been no direct evidence of any such terrorist market in antiquities. A long-awaited report by the World Customs Organisation (WCO) (WCO itr-2016-en)  has finally emerged which focuses on the trafficking of cultural property for the first time. The claims have proven […]

COMMENT: I really do not know what it’s gonna take for you to get the Noble Price for something. Your computer is amazing. The market crashes the week of the 19th. Here in NYC we have been buried in snow and even CNN has reported we have never seen this much snow in 130 years. Your […]

Bloomberg is reporting the fate of Christian Bittar who was the top trader at Deutsche Bank AG. He earned a bonus of $126 million in 2008 for betting that as the economy would melt down, banks would refuse to lend to each other until the dust settled so short-term rates would soar. While he is sitting now […]

QUESTION: Enjoyed your article on The Persian Gulf and climate change. In a related topic we did a field trip once to the South of Spain and saw whole cliff faces of gypsum at Sorbas near Almaria. This very thick layer of gypsum is evidence that the Mediterranean Sea had once totally dried up. One explanation is that […]

2007 Feb. 27: Mortgage giant Freddie Mac says it will no longer buy the riskiest subprime loans. April 2: Subprime mortgage lender New Century Financial files for bankruptcy-court protection. June 2007: Two Bear Stearns hedge funds suffer after bad bets on U.S. subprime mortgage-related securities. July 31: Investment bank Bear Stearns liquidates two hedge funds […]

QUESTION: Mr. Armstrong; Has interbank lending collapse due to a lack of confidence concerning counter-party risk? Thank you for being a rare source with experience ER ANSWER: Yes that is a correct statement. The failure of Lehman and Bear Sterns was the result of interbank lending when they could not make good on the collateral they […]

CNN Money is reporting the headline “A top JPMorgan Chase executive is warning that stocks could fall as much as 40% in the next few years.” CNN reports that Daniel Pinto, JPMorgan’s co-president, said on Bloomberg Television he believed that market gains should continue for the next year or two. However, he added that investors […]

The Italian election results are in and once again it demonstrates that correlating economics with voting, you end up with a far more accurate forecast. Trying to predict based upon samples of calling people appears to be not merely questionable, but also prone to human bias. We have been warning that this trend toward nationalism […]

South Africa is turning extremely left-wing to the point that it is risking any viable economic future. The Parliament of South Africa on Tuesday voted to expropriate the majority white farmers of the country without compensation. This is how the Russian Revolution took place – the just took everyone’s property. The motion was submitted by […]

California is trying to scheme to circumvent the Trump Tax Reform which limits deductions to $10,000 in state taxes from their federal returns. Of course, the California press portrays this as punishment for voting for Hillary. But they support higher taxes as long as they get to deduct them from the Feds, which has been […]