It is no secret that the Kenya shilling has been tanking, nearing 106 to the US dollar last week. Bear in mind that this is not the lowest the shilling has ever reached; KES reach USD 107 in October 2011. However, conditions now are different and have informed the anxiety about the depreciation of the … Continue reading
By Michael Snyder Those that watched their stocks steadily increase in value for years are now seeing all of that “wealth” disappear at a staggering pace. The only way you actually make money in the stock market is if you get out in time, and many Americans are discovering that all or most of … Continue reading
Karl-Friedrich Israel and Jeff Deist discuss the current situation in Greece from Karl’s perspective as a German. Old hostilities between the north and south in Europe are being inflamed, which calls into question the entire purpose of the Eurozone. Would Greece be better off simply leaving the Euro and resurrecting the drachma? Would the less … Continue reading
Is the stock market going to crash by the end of 2015? Of course stock market crashes are already happening in 23 different nations around the planet, but most Americans don’t really care about those markets. By Michael Snyder The truth is that what matters to people in this country is the health of their … Continue reading
To me, the very concept of being a Facebook fan of a bank is rather strange. Here and in Brazil too, they are seen as evil money making machines – so, how Itau achieved such a high number of fans? Their social media journey started around 5/6 years ago – and Itau seemed to have … 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
Every great con game eventually comes to an end. By Michael Snyder For years, global central banks have been manipulating the financial marketplace with their monetary voodoo. Somehow, they have convinced investors around the world to invest tens of trillions of dollars into bonds that provide a return that is way under the real rate … Continue reading
“Greece’s economy will barely grow this month, and unemployment will be even higher than previously feared,” The Guardian reports. That’s according to new forecasts from the Organisation for Economic Co-operation and Development this morning. The OECD has adjusted its expectations downwards, given the events of recent months, The Guardian noted. Greece has the highest unemployment … Continue reading
Greece may miss a deadline for a deal with creditors this week, as the parties haven’t made any progress in talks, Bloomberg sources close to the negotiations said, accelerating fears of an Athens default. Greece remains too far from striking a debt deal with its international creditors, unnamed sources who wished to remain anonymous told Bloomberg. … Continue reading
All over the planet, large banks are massively overexposed to derivatives contracts. By Michael Snyder Interest rate derivatives account for the biggest chunk of these derivatives contracts. According to the Bank for International Settlements, the notional value of all interest rate derivatives contracts outstanding around the globe is a staggering 505 trillion dollars. Considering the … Continue reading