Tag Archives: Switzerland

Submitted by Michael Shedlock via KMichTalk.com, Looking for group think, extrapolation of extreme silliness, linear thinking, and belief in absurd models? Then look no further than Fed presidents, their advisors, and academia loaded charlatan professors. Today’s spotlight is on Marvin Goodfriend, a former economist and policy advisor at the Federal Reserve’s Bank of Richmond, and Ken Rogoff, a chaired Harvard...

Submitted by Nicole Foss via The Automatic Earth blog, Part 1 Here. History teaches us that central authorities dislike escape routes, at least for the majority, and are therefore prone to closing them, so that control of a limited money supply can remain in the hands of the very few. In the 1930s, gold was the escape route, so gold was confiscated. As Alan Greenspan wrote in 1966: In the absence of the gold...

While subtle, the general public loss of faith in central banking has been obvious to anyone who has simply kept their eyes open: it started in Japan where in February hardware stores were reported that consumers were hoarding cash, as confirmed by the spike in demand for safes, "a place where the interest rate on cash is always zero, no matter what the central bank does." Then, as we reported just over a week ago, Burg-Waechter KG, Germany’s biggest safe manufacturer, posted a 25% jump in...

[unable to retrieve full-text content]As momentum builds in the developing deflationary spiral, we are seeing increasingly desperate measures to keep the global credit ponzi scheme from its inevitable conclusion. Credit bubbles are dynamic — they must grow continually or implode — hence they require ever more money to be lent into existence.

[unable to retrieve full-text content]"We will colonize you with your democratic laws." — Yusuf al-Qaradawi, Egyptian Islamic cleric and chairman of the International Union of Muslim Scholars. "Beaches, like any public space, must be protected from religious claims. The burkini is an anti-social political project aimed in particular at subjugating women.

Last weekend, when we reported that Germany’s Raiffeisenbank Gmund am Tegernsee – a community bank in southern Germany – said it would start charging retail clients a fee of 0.4% on deposits of more than €100,000 we said that “now that a German banks has finally breached the retail depositor NIRP barrier, expect many more banks to follow.” Not even a week later, not one but two large banks have done just that....

There are many precious metals refineries throughout the world, some local to their domestic markets, and some international, even global in scale. Many but by no means all of these refineries are on the Good Delivery Lists of gold and/or silver. These lists are maintained by the London Bullion Market Association (LBMA) and they identify accredited refineries of large (wholesale) gold and silver bars that continue to...

Submitted by Koos Jansen of BullionStar In the Gold Survey 2016 report by GFMS that covers the global gold market for calendar year 2015 Chinese gold consumption was assessed at 867 tonnes. As Chinese wholesale demand, measured by withdrawals from Shanghai Gold Exchange designated vaults, accounted for 2,596 tonnes in 2015 the difference reached an extraordinary peak for the year. In an attempt to explain the 1,729...

On a firmly rising gold price the UK is one of the largest net importers of gold in 2016. The gold price went up 25 % from $1,061.5 dollars per troy ounce on January 1 to $1,325.8 on June 31. Over this period the UK net imported 583 tonnes and GLD inventory mushroomed by 308 tonnes. In the month of June the UK gross imported 154.2 tonnes, up 22 % from May, and gross export was 1.9 tonnes, down 37 % from the previous...

Seven people are in hospital with stab wounds and burns, police say, after an attack on a train near St.Gallen, Switzerland. The man set the train carriage on fire using a flammable liquid and also stabbed passengers, including a six-year-old child, police said. Details are sparse for now but The BBC reports, the suspected attacker, described as a Swiss man aged 27, was also taken to hospital after the incident near...