Archive for the 'Collapse' Category
U.S. Federal Regulators Close NetBank
September 28th, 2007Watch those FDIC limits, people. (And in any real crisis, forget FDIC.) While the Federal Reserve and the U.S. Government are eroding the value of your dollars by the minute, at least they’re going to guarantee you 100,000 of the things on deposit. How many loaves of bread you’ll be able to buy with your […]
Cryptogon Reader Has Joint Account with Siblings, Can’t Diversity Family Assetts, Losing Money by the Minute
September 24th, 2007A Cryptogon reader is desperately trying to diversity her family’s assets, but the funds are held in a joint account with this person’s siblings who have no idea how dire the global financial situation is. Unless her siblings can somehow come to see how serious this situation is, the funds cannot be moved. The question […]
U.S. Dollar in Freefall: “Risk of a Disorderly Adjustment of Global Imbalances”
September 20th, 2007The sheep are about to notice the wolves. Via: Financial Times: The dollar dropped to record to record lows through the $1.40 level against the euro on Thursday as the US currency continued its slide following the Federal Reserve’s decision to cut interest rates earlier in the week. “The key $1.40 level has been breached […]
EMERGENCY: FEARS OF DOLLAR COLLAPSE AS SAUDIS TAKE FLIGHT
September 20th, 2007U.S. dollar holders: Battle stations. Are we going to crack 79 on USDX and really get this party started? If you’re holding U.S. dollar denominated assets, you’re holding hand grenades with the pins pulled. Full text follows. Via: Telegraph: Saudi Arabia has refused to cut interest rates in lockstep with the US Federal Reserve for […]
Australia Cuts Grain Crop Estimate 31% on Dry Weather
September 18th, 2007We’re pouring on the joy and happiness today… Via: Bloomberg: Australia cut its forecast for barley, wheat and canola crops 31 percent on dry weather, adding pressure to shrinking world supplies that have driven up prices. Total grain output may be 25.6 million metric tons in the harvest starting October, the Canberra-based Australian Bureau of […]
Collapsitalism: What I’d Keep in My Collapse Portfolio
September 18th, 2007WARNING: This is not a recommendation to buy, sell or hold any financial instrument. NOTE: I am a BullionVault client and affiliate. I have no relationship with Everbank. I have no relationship with Powershares. I hold gold, U.S. dollars and New Zealand dollars. – – – – – Becky and I don’t have much money […]
EMERGENCY: U.K. GOVERNMENT TO COVER 100% OF DEPOSITS
September 18th, 2007WARNING: This is not a recommendation to buy, sell or hold any financial instrument. An overnight shift in policy from covering roughly £30,000 worth of deposits to 100% of deposits!? Sterling holders, consider reducing or eliminating your exposure to GBP denominated assets immediately. If a bank CEO tells me not to panic, I’d remove my […]
Northern Rock Online Clients Can’t Access Funds
September 17th, 2007No money today, try again later… Let’s see, off the top of my head, I like these related posts: Wells Fargo: WTF? Barclays Admits Borrowing Hundreds of Millions at the Bank’s Emergency Rate Waiting for Clarity on the Brink of Oblivion Via: Guardian: As thousands of customers queued up outside branches in a bid to […]
Northern Rock Shares Crash as Customers Queue
September 14th, 2007UPDATE: Police Called to Disperse “Panicked Crowds” of Northern Rock Customers Trying to Withdraw Money – – – – – Remember that number I told you to watch for on gold? $721. It reached $718 today. Via: Telegraph: Thousands of panicked Northern Rock customers have rushed to withdraw millions of pounds out of their accounts, […]
The Coming Financial Crash: “Where Everyone in the House is Crazy Only the Sane Seem Like Fools”
September 12th, 2007Via: European Tribune: The unease, verging on panic, about sub-prime mortgages has given us a glimpse of what is ahead. But, let us be very clear, it has been only a glimpse. Sub-prime securitised mortgages are only a relatively tiny part of the huge credit and debt structure involved in what we may group under […]
