Economist John Williams of ShadowStats.com stated in an interview that the budget crisis of the US government could lead to a sell-off of the dollar in May. The federal government is simply insolvent with no hope of resolving the budgetary problems due to gridlock, according to Williams. He also suggests that a dollar sell-off could […]
Archives for April 2013
Americans will spend more on taxes than on clothing, food and housing combined
According to the Tax Foundation’s annual calculations, Tax Freedom Day will arrive on Apr. 18, the 108th day of 2013. This means that American workers will have to hit the concrete jungle for more than three and a half months of the year to earn enough money to pay this year’s taxes at the federal, […]
Investor says all the banks around the world are bankrupt
In an interview with The International Speculator, Doug Casey, a renowned economist and international investor, stated that all of the banks in the world are bankrupt because they are all based on a fractional reserve system. Fractional reserve banking can be considered institutionalized fraud as this means that the banks can essentially lend out money […]
Marc Faber: Cyprus will happen everywhere around the world
The three men who predicted the economic collapse in 2007/2008 in the first place are now foreseeing the Cyprus crisis hitting developed and developing nations across the globe. Marc Faber, Peter Schiff and Jim Rogers are all weighing in on this tumultuous instance. Marc Faber, finance guru and publisher of the Gloom, Boom & Doom […]
Gerald Celente: US government is provoking North Korea with economic sanctions
In an interview with USAWatchdog.com, Gerald Celente of TrendsJournal.com stated that the economic sanctions against North Korea by the United States constitute economic warfare. He pointed out how these policies go against what the founders said about foreign policy: that we should trade and talk to everyone but not get involved with entangling alliances and quarrels […]