Thursday, July 17, 008 Congressman warns of "chaos about to be unleashed" on economic and political system by globalist intervention and world empire Texas Congressman Ron Paul has warned the House that he is "convinced the time is now upon us that some Big Events are about to occur." that will cause liberty to…
NEW YORK (Reuters) – The nightmare scenario for U.S. economic authorities is here: confidence in their ability to rescue the country from a housing-led financial panic is now at its lowest level since the crisis began. This means losses for investors, already totaling nearly half a trillion dollars, could mount even further over the next…
Merrill Lynch has warned that the United States could face a foreign "financing crisis" within months as the full consequences of the Fannie Mae and Freddie Mac mortgage debacle spread through the world. The country depends on Asian, Russian and Middle Eastern investors to fund much of its $700bn (£350bn) current account deficit, leaving…
Large-scale government intervention in the US housing crisis would be counterproductive and prevent a “necessary” correction in home prices, according to a Federal Reserve study released Monday. The study by economist William Emmons of the St. Louis Fed concluded that “government interventions directly in housing or mortgage markets are not necessarily the best policy responses.”
The following statement is written by Congressman Paul about the pending financial disaster. He will introduce this statement as a special order and insert it into the Congressional Record next week. Fortunately, we have the opportunity to debut it first on the Campaign for Liberty blog. It reads as follows: I have, for the past…
–> Note from Patrick Timpone: We do not know who exactly this man is, on our next talk with Andrew Gause we’ll ask him about some of these reasons. If all accurate, it is intrquing. –> Editors note: Minyanville Professor Rob Roy contributed to this article. 1. Stocks are firmly in a downtrend. The…
Did Bear Stearns melt down — or was it murdered? That is one of the big questions that Bryan Burrough, who co-wrote the best-selling 1990 book “Barbarians at the Gate,†tries to answer in a lengthy article in the August Vanity Fair magazine. Mr. Burrough spoke with many Bear executives and board members who described…
Fiat money is an oxymoron. Traditionally, money has been both a storehouse of value and a medium of exchange. Fiat money exists by mimicking both; but when its ability to do so ends, fiat money exposed for what it is, reverts to what it is – government issued coupons with expiration dates printed in invisible…
Average gas prices in the United States have reached $4 per gallon, and Americas notoriously profligate ways started to change fast. Americans are driving less, using mass transit more, buying fewer big cars, and shopping with less abandon. There are more changes to come. Oil prices climbed from $10 per barrel in 1999 to $95…
Treasury Secretary Henry Paulson says the government must move quickly to give the Federal Reserve more powers to regulate the financial system. Paulson said Thursday that the central banks powers need to be expanded in the wake of the near collapse earlier this year of Bear Stearns, the giant Wall Street investment firm. He said…
The Royal Bank of Scotland has advised clients to brace for a full-fledged crash in global stock and credit markets over the next three months as inflation paralyses the major central banks. “A very nasty period is soon to be upon us – be prepared,” said Bob Janjuah, the banks credit strategist.
Walter “John” Williams thinks out of the box. He makes disquieting reading, but you won’t find him in the mainstream. At least not often. He runs a “Shadow Government Statistics” site with an electronic by-subscription newsletter. Anyone can access some of his data and occasional special reports. They can also assess his reasoning. In his…
US banks fear accounting changes could impact lending as they force $5 trillion of assets back on to their balance sheets Analysts at Citigroup warn the planned tightening of accounting rules for off-balance sheet vehicles would force US banks to reconsider arrangements and could result in up to $5 trillion (₤2.5 trillion) of assets coming…
ABU DHABI (Thomson Financial) – Speaking on the home turf of the largest sovereign wealth fund in the world, U.S. Treasury Secretary Paulson had a simple message for foreign investors: Bring it on. ‘As we seek to open new markets abroad, America will keep our markets open at home to investment from private firms and…