Financial crisis

Along with its public deficits going the wrong way, as we wrote about last week, France has now to contend with its banking sector. According to Euromoney, a study from the Lausanne Center for Risk Management shows that french banks represent the most important systemic risk of Europe!

France is losing its footing. It just fell to the other side of the Laffer Curve : tax increases not only did not produce any revenue, but we’re witnessing a decline in fiscal revenue.

Nikkei’s 7% plunge, last Thursday, and the way it happened, gives us a glimpse into how the next crisis will play.

In his 7 years as Chairman of the Fed Ben Bernanke has printed more money than during the whole history of the USA

The bank with the most exposure to derivatives is not JP Morgan, as we thought, but Deutschebank

By wanting to respect each country’s whims and maintaining the fiction of « national » central banks despite the creation of a unique currency, the euro promoters have created an explosive internal systemic risk.

Cyprus did serve as a general rehearsal for the experimentation of a plan that will be reproduced elsewhere. The European Commission is preparing a proposition to include deposits over 100,000 euros in bank bailouts

For Americans, financial and economic Armageddon might be close at hand. The evidence for this conclusion is the concerted effort by the Federal Reserve and its dependent financial institutions to scare people away from gold and silver by driving down their prices.

As the Troika’s (IMF, ECB, EU) decision to tax Cypriot depositors has started a generalised panic movement among European savers, the Fed is, at the same time, orchestrating a downward manipulation of gold and silver spot prices in order to maintain trust in the dollar and, more globally, in the...

In Cyprus, confusion is growing, and there is talk of a 60% tax on bank accounts exceding 100,000 euros! Actually, no one knows, and we have to wait