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Former Reagan White House Budget Director: This Isn’t Going to End Well. The Fed Has Painted Itself Into A Corner. It’s Violated Every Rule Of Sound Money That Ever Existed. All Interest Rates Are Manipulated. The Yield Curve Is Artificial…
David Stockman The Fed Created a Bubble Machine – Global Economic Crisis Has the Federal Reserve’s ultra-easy money ZIRP policies destroyed honest market price discovery and inflated a massive asset bubble? Outspoken former Reagan White House budget director David Stockman thinks so and believes the Fed has created a massive bubble. He sounds off on the Fed and the huge financial challenges we face in the months and years ahead. http://www.realclearmarkets.com/video/2013/06/27/stockman_this_isnt_going_to_end_well.html David Stockman’s Non-Recovery Part 5: Peak Debt And The Wages Of Keynesian Sin Read more at http://investmentwatchblog.com
New Bank Of America Whistle-Blower Emerges: More Customer Abuse Secrets
Bank of America whistle-blower details latest scheme to abuse homeowners, evade settlement rules and pocket cash By David Dayen Enlarge Last week, I detailed bombshell revelations from Bank of America whistle-blowers, in which former employees of the bank detailed systematic fraud and deceptive practices inside their loan modification department — including bonuses and Target gift cards for staff who racked up foreclosures. Now, another new lawsuit, featuring a separate whistle-blower, contains additional remarkable revelations – and may shed light on Bank of America’s strategy in getting out from under the mountain of legal exposure and costs in which it now finds itself. Simply put, the bank seeks to pocket quick cash and evade practices set forth in major settlements – by cashing out of the subprime mortgage servicing business. The result would be to leave struggling homeowners back at square one, with even fewer protections to avoid foreclosure.
WARNING: The Process Of QE-Driven Bubble Bursting Has Began
Global Derivatives Market Has Already Suffered A Staggering $300 Trillion of Losses, Fed Lost $151 Billion in Bond Values, Gold Drops Below $1,200, Smart Money Is Heading For The Exits!!! Jim Rogers: “This Is Too Insane–And I’m Afraid We’re All Going To Suffer For The Rest Of This Decade” When asked about the explosive riots occurring in Brazil, Jim warned to prepare for much more, in that, “This is the first time in history where you’ve had all the central banks in the world printing money at the same time. Europe, Japan, America, and the UK, all, are frantically trying to debase their currencies…I’m afraid that in the end, we’re all going to suffer perhaps, worse then we ever have, with inflation, currency turmoil, and higher interest rates. As I say, this has never happened before, it’s never been a good policy in the long run, so I’m afraid we’re all going to suffer for the rest of this decade from this crazy, crazy money printing.” http://bullmarketthinking.com/jim-rogers-this-is-too-insane-and-im-afraid-were-all-going-to-suffer-for-the-rest-of-this-decade/ $300 Trillion In Derivatives Losses To Lead Gold’s Rebound Today Egon von Greyerz warned King World News that the global derivatives market has already suffered a staggering $300 trillion of losses.
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