‘The Bundesbank has dropped a DIESELBOOM on the European markets Monday morning, calling on Eurozone nations about to go bankrupt (ie Greece, Italy, Portugal, & Spain) to initiate a one-off capital levy bail-in on their wealthiest citizens prior to asking other nations (read Germany) for bail-out help.
Yes, you read that correctly, the most powerful Central Bank in the Eurozone has just openly called for Eurozone wide bail-ins.’
Are We On The Verge Of A Massive Emerging Markets Currency Collapse?
‘This time, the Federal Reserve has created a truly global problem. A big chunk of the trillions of dollars that it pumped into the financial system over the past several years has flowed into emerging markets. But now that the Fed has decided to begin “the taper”, investors see it as a sign to pull the “hot money” out of emerging markets as rapidly as possible. This is causing currencies to collapse and interest rates to soar all over the planet. Argentina, Turkey, South Africa, Ukraine, Chile, Indonesia, Venezuela, India, Brazil, Taiwan and Malaysia are just some of the emerging markets that have been hit hard so far.
In fact, last week emerging market currencies experienced the biggest decline that we have seen since the financial crisis of 2008. And all of this chaos in emerging markets is seriously spooking Wall Street as well. The Dow has fallen nearly 500 points over the last two trading sessions alone. If the Federal Reserve opts to taper even more in the coming days, this currency crisis could rapidly turn into a complete and total currency collapse.
A lot of Americans have always assumed that the U.S. dollar would be the first currency to collapse when the next great financial crisis happens. But actually, right now just the opposite is happening and it is causing chaos all over the planet.’
HSBC Bank on Verge of Collapse: Second Major Banking Crash Imminent?
‘Fears are growing that HSBC bank is insolvent, after the Bank refused cash withdrawals and has an $80bn blackhole in their balance sheet. Last night,Forbes and a variety of sources including Max Keiser, and FXstreet (Forex) reported a Bank of China announcement suspending all cash transfers for the next several days. So what’s really going on?’
‘This column has long maintained that if you give anyone a modicum of authority, they will always, always abuse it. Catch-all excuses such as ‘elf’n’safety’, ‘crime prevention’ and ‘national security’ are trotted out regularly to make our lives as miserable as possible.
The worst offenders can usually be found in the public sector, where jumped-up jobsworths delight in throwing their weight around. In the name of saving the polar bears, householders are fined for putting the ‘wrong’ kind of rubbish in one of their seven different recycling bins.
Grey-haired ladies with artificial hips are subjected to humiliating searches at airports, just in case they’ve strapped on a suicide vest under their knitted cardigans.
It’s bad enough when so-called public servants overstep the mark. But it’s even more infuriating when the private sector plays policeman.’