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The hairiest of all the OTC derivative weapons of mass financial destruction
Over The Counter Derivatives:
Over $1,000 Trillion in unsecured, unregulated, highly-leveraged, toxic, `risk` insurance. This easy-money disaster is just the tip of the iceberg.
Even AAA-rated companies may eventually be affected. Now appearing on the horizon --- a `sub-prime` auto loans crisis Aug. 16, 2007(Bloomberg) -- William Poole, president of the St. Louis Federal Reserve Bank, said the subprime mortgage rout doesn`t threaten U.S. economic growth, and only a `calamity` would justify an interest-rate cut now.
Guess what dropped a few days later! Crisis? There`s nothing the Fed can`t paper over.
BRING IT ON! The creators of fiat money. The enemies of precious metals, in citizens hands of course.
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China is negotiating to work Tanzanian Royalty Exploration Corp`s major nickel belt in Tanzania in exchange for royalties
The fraudulent U.S. Consumer Price Index calculation conveniently ignores the cost of housing, energy and food, plus other absurdities.
Jim Sinclair explains the danger to junior gold/silver explorers who finance with non-recourse loans, as most do.
The next bomb from this chain reaction of bailouts and blowups will be credit-card debt.
Hardly anybody is talking about it yet, but banks and consumers are laying the ground for a wave of credit-card defaults, bankruptcies and asset write-offs for 2009 or so. Tanzanian Royalty Exploration Corporation is a unique, publicly-traded, financial minerals exploration company whose business strategy is to develop royalty income under partnership arrangements from its world class gold, diamond and nickel assets in the Lake Victoria Greenstone and Kabanga/Kagera Nickel Belts of Tanzania.
Jim`s view of what causes an economic downward spiral.
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After World War 1 the Weimar Mark went into nothingness and the Weimar stock market went up sharply, then...
North American Union currency?
Security and Prosperity Partnership of North America (SPP) What`s going on here? Where there`s smoke there`s fire? What exactly are the `best interests` of the U.S. and who benefits?
The Treasury International Capital Flows report may well be the most important report as a negative position would be worse than the end for the US dollar.
`This is a very dangerous situation for the dollar,` said Hans Redeker, currency chief at BNP Paribas.
Hubris, extreme leverage, and other people`s money.
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