If anyone can believe anything coming out of the Bank for International Settlements, the global derivatives bubble is now 20% bigger than it was just before the last great financial crisis struck in 2008. These clowns claim that the bubble is now at 710 trillion dollars; however, it may be more than over 1 quadrillion dollars. This derivative bubble, which is essentially a side bet, could vaporize, thanks to computers, within a period of one hour.
India to Relax Gold Tax
Between gold smuggling and jewelers going to Pakistan, the Indian government has been losing a lot of gold tax revenue. These reasons alone are forcing the government to change its ways and this is going to propel more demand for gold from India. Some experts see the unpopular gold import regulations being relaxed by the Hindu Diwali religious festival in October.
Austria Demands An Audit
Austria, following Germany, is starting to get concerned about their gold assets. Austria will audit its gold reserves located in the UK, which represent 80% of its total gold holdings. Of course, they may want to try looking a little closer to home for their gold… Like Switzerland. At least before it shipped off to China.
Despite the propaganda, the intercepted telephone call proves Washington’s role in the overthrow of the democratic government of Ukraine. Washington has lead their NATO puppets into this cover-up and any relationship based on lies will not last. With Obama internationally viewed as a wet noodle, there is already fear and anger among allies; thus, all Putin has to do is to exploit this mess and it could potentially end NATO.
According to Kyle Bass, China’s economy isn’t just slowing down, it’s contracting. China’s banking assets, now totaling over 25 trillion dollars, has grown to over 100% of its GDP in the last three years. He goes on to say that deflation is threatening China and this, along with the basket case of Japan’s economy, will cause deflation in the U.S. – Which will be a nightmare for the Fed.
The New Normal
Stocks of companies, with the weakest balance sheets, have climbed more than 8% in 2014 and 94% since the end of 2011. So, apparently, within the U.S. equity market, the worse a company’s finances, the better it’s doing? Can you say… Enron?
Finally, please prepare now for the escalating economic and social unrest. Good Day!
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