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POSTED ON October 4, 2017  - POSTED IN Key Gold Headlines

What happens when government officials spend with virtually no restraint and they don’t have a printing press that can crank out more money?

Hartford, Connecticut.

Last week, both S&P Global Ratings and Moody’s Investors Service downgraded Hartford’s credit rating deeper into junk status. According to a Reuters report, the downgrade puts Hartford near the bottom of the credit scale. This means the agencies view the city as essentially in default with little prospect for a full bondholder recovery.

POSTED ON September 27, 2017  - POSTED IN Key Gold Headlines

Remember back when mortgage lenders loosened credit standards making it easier to get a loan and blew up a giant housing bubble?

That’s happening again.

According to a report released by Fannie Mae, lenders facing lower profit margins are trying to expand the borrower pool.

Facing constrained mortgage demand and a negative profit margin outlook, more lenders say they have eased rather than tightened home mortgage credit standards, according to Fannie Mae’s third quarter 2017 Mortgage Lender Sentiment Survey. Across all loan types – GSE Eligible, Non-GSE Eligible, and Government – the net share of lenders who reported easing credit standards over the prior three months reached a new high since the survey’s inception in March 2014, after climbing each quarter since Q4 2016.”

POSTED ON September 18, 2017  - POSTED IN Key Gold Headlines

The US national debt was in the news last week as Pres. Trump signed a spending bill that raised the debt ceiling limit for the next three months and added approximately $318 billion to the national debt. Officially, the US debt surged to to $20.16 trillion. Of course, the actual figure for government unfunded liabilities runs even higher. And Trump wants to do away with the debt ceiling altogether.

The US debt makes up just one part of a rapidly growing worldwide debt problem. Earlier this summer, US Global Investors CEO Frank Holmes called global debt “the mother of all bubbles.” Now we have a report from the Bank of International Settlements saying worldwide debt may actually be understated by $13 trillion. Reuters reports the understatement is because “traditional accounting practices exclude foreign exchange derivatives used to hedge international trade and foreign currency bonds.”

POSTED ON August 14, 2017  - POSTED IN Videos

An Australian economist who predicted the 2008 financial crisis now says another crash is “almost inevitable.”

Steve Keen heads the economics department at Kingston University in London. He was one of the few academics to anticipate the subprime housing crisis. On his advice, French investment bank BNP Paribas announced it was shutting down three investment funds specializing in the US subprime market in 2007. At the time, the bank said it was struggling to calculate their values against a backdrop of growing concerns over liquidity.

In an interview on RT’s Keiser Report, Keen said another crisis is around the corner, and the problem this time is debt.

POSTED ON August 1, 2017  - POSTED IN Videos

Debt in the US is the mother of all bubbles.

The US government is more than $20 trillion in debt, with actual unfunded liabilities pushing far higher. Meanwhile, American families have amassed more than $1 trillion in credit card debt alone.

During a speech at Cambridge House IMWC earlier this summer, Peter Schiff discussed the massive levels of government, corporate, and personal debt in the US and how it will eventually take the air out of America’s bubble economy.

Peter starts the speech by showing the economy isn’t nearly as great as the mainstream pundits claim. He highlights the massive levels of debt, how the government manipulates employment numbers, and the very real problem of inflation. Then he shows how Federal Reserve policy has gotten us into this predicament and the choice it will ultimately be forced to make. Peter says in the end, the Fed will sacrifice the dollar.

POSTED ON July 12, 2017  - POSTED IN Key Gold Headlines

Could the country’s pension mess be more widespread than we even realize?

Martin Armstrong of Armstrong Economics thinks so. He says, “under no circumstances assume that any government pension will actually be paid.”

And he means even government pensions in states now considered economically sound.

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