economic collapse

  1. Four reasons why you shouldn't count gold out just yet!

    Four reasons why you shouldn't count gold out just yet!
    Remember gold? It seems like only six years ago the shiny metal was flavor of the month, hitting a record $1,900 a troy ounce while its backers prophesied the end of the fiat money system.  With bitcoin sucking up all the crazy in financial markets, gold looks to have lost its luster. The CBOE/Comex Gold Volatility Index, a rough proxy...
  2. Iran Should Go For Gold, Not A Currency Reform Illusion

    Iran Should Go For Gold, Not A Currency Reform Illusion
    Last December, the Iranian government of Hassan Rouhani passed a bill to change the name of Iran’s national currency from the rial to the toman. This would require a redenomination in which one zero was lopped off Iran’s unit of account, as 1 toman is equal to 10 rials. Without a change in the monetary and exchange rate regime, the...
  3. Venezuelans turn to Bitcoin to escape currency crisis

    Venezuelans turn to Bitcoin to escape currency crisis
    By now, most Americans are familiar with the economic basket case that is Venezuela. The country’s economy has collapsed, leaving the population desperate and starving. The human cost is highly visible and tragic, but what gets less attention is the way in which the government has destroyed the country’s currency, thereby making it impossible for citizens to buy basic necessities...
  4. Degenerate Dutch Father Forces Family to Sell Everything So He Could Trade Cryptocurrencies

    Degenerate Dutch Father Forces Family to Sell Everything So He Could Trade Cryptocurrencies
    This is akin to a family of five selling their home, cars, and personal belongings, in order to finance Dad heading off to Vegas in order to play the fucking slot machines. What can go wrong, after all? Bitcoins only go higher. Source: CNBC Didi Taihuttu, his wife, three kids and their cat bet all they have on bitcoin. The...
  5. The perfect economy right now 'is exactly when things may go wrong' warns major bank CEO

    The perfect economy right now 'is exactly when things may go wrong' warns major bank CEO
    Low rate environment puts banks under pressure, ING CEO says from CNBC. The CEO of a major European bank offered a stark warning for his industry on Thursday, suggesting that years of accommodative policy by global central banks could quickly turn sour. Low interest rates have been supportive for the world economy, according to ING Group's Chief Executive Ralph Hamers, but banks...
  6. Here's Why Malaysians Can't Afford a House

    Here's Why Malaysians Can't Afford a House
    Malaysia’s central bank has a response to those saying it needs to do more to spur home loans: houses simply aren’t affordable. Bank Negara Malaysia has created a website packed with data aimed at debunking the “myth” that access to financing was deterring home ownership, showing that loan approvals for key cities are near 70 percent or higher. The central...
  7. "Socialism Has Produced Some Very Powerful Millionaires": As Venezuelans Starve In The Streets, The Elites Party On

    "Socialism Has Produced Some Very Powerful Millionaires": As Venezuelans Starve In The Streets, The Elites Party On
    It’s always funny to debate socialists on the merits of their ideology. If you point to a country like Venezuela, and say “See! This is what socialism leads to,” they’ll no doubt claim that it isn’t a real example of socialism. But if you went back in time by just a few years, you’d find that their perception of Venezuela was quite different...
  8. Crisis On The Horizon: Will It Be Economic Collapse? Global Civil Unrest? War? We Won't Have To Guess Much Longer...

    Crisis On The Horizon: Will It Be Economic Collapse? Global Civil Unrest? War? We Won't Have To Guess Much Longer...
    The algorithm is simple: Governments coerce their pet monkeys to pay taxes into the system – the self-perpetuating machine – and thereby the monkeys become the very sources of funding to build, equip, staff, and enforce their own incarceration. There are too many individuals with dreams, plans, goals, and ambitions for themselves and their families.  There is too much individualism.  It eventually must be...
  9. Deutsche Bank Calculates The "Fair Value of Gold" And The Answer Is...

    Deutsche Bank Calculates The "Fair Value of Gold" And The Answer Is...
    Over the past three years, gold has found itself in an odd place: while it still remains the ultimate "safety" trade and store of value should everything go to hell following social and monetary collapse, when it comes to "coolness" it has been displaced by various cryptocurrencies, all of which have vastly outperformed the yellow metal in recent months. Meanwhile...
  10. Venezuela Devalues Currency 64% on New FX Auction Platform

    Venezuela Devalues Currency 64% on New FX Auction Platform
    Venezuela’s central bank devalued its weakest legal exchange rate nearly 64 percent in its latest currency system as the cash-strapped nation attempts to ease a shortage of dollars that’s emptied store shelves and fueled the word’s highest inflation. On Wednesday, central bank director Pedro Maldonado announced the results of the first auction in a revamped currency platform, known as Dicom, where it...

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