Must read

After the SNB suddenly abandoned the CHF ceiling last week Steen Jakobsen, chief Economist & CIO at Saxo Bank tells the world  ‘central banks have lost credibility’ and he even predicts ‘the beginning of the end for central banks will be well under way.’ He even asks his readers the ‘bigger question: Why is it that Read the full article…

According to Jean-Claude Trichet, former president of the European Central Bank , ‘new rules’ about ‘a new global financial order’ have been discussed with China. In his speech during the yearly prestigious IFF Forum Mr. Trichet explained a new financial reset was needed because, ‘The global economy and global finance have reached the turning point, Read the full article…

Industrial and Commercial Bank of China (ICBC), the largest bank of China, and second largest in the world, recently confirmed that ‘a new global currency setup is being conceived’.  The news, first published by Bullionstar.com, came after Jeremy East, Managing Director at Standard Chartered Bank, asked Zhou Ming, General Manager of the Precious Metals Department at Read the full article…

Because we don’t have much time we quote Zerohedge.com on this story; One of the conventional justifications by tenured economists for a fiat currency regime, especially as a replacement for a gold, or other hard currency, standard, is that the financial system has been far more stable under a non-gold standard regime. While we have frequently Read the full article…

It is very rare that a (former) central banker tells it like it is. Jürgen Stark, former vice president of the Bundesbank and also former chief economist of the ECB confirmed is a recent conference that “The System is Out of Control” and is “pure fiction”. According to Stark  ‘The problem is the monetary model Read the full article…