Did you see what just happened? The devaluation of the yuan by China triggered the largest one day drop for that currency in the modern era. This caused other global currencies to crash relative to the U.S. dollar, the price of oil hit a six year low, and stock markets all over the world were … Continue reading
After all these years, the most famous investor in the world still believes that derivatives are financial weapons of mass destruction. And you know what? He is exactly right. The next great global financial collapse that so many are warning about is nearly upon us, and when it arrives derivatives are going to play a … Continue reading
This is just the beginning of the oil crisis. By Michael Snyder Over the past couple of weeks, the price of U.S. oil has rallied back above 50 dollars a barrel. In fact, as I write this, it is sitting at $52.93. But this rally will not last. In fact, analysts at the big banks … Continue reading
By Ernst Wolff With the Greek elections only days away, the governments and the media of the European Union have once again stepped up their campaign of threatening the Greek people and stirring up anti-Greek sentiments. While the IMF has shown its contempt for democratic elections by suspending all payments to Athens, the German government … Continue reading