It’s enough to make a grown man cry. In a good way.
John sees no way to avoid hyperinflation, as some of the warning signs are getting worse: rising real inflation rates, massive Fed monetization, foreign nations dumping dollars, and the US losing its triple A credit rating.
The point of MF Global and all of the subsequent activity, which looked positively suicidal, was to bring ALL FINANCIAL MARKETS on the planet under the control of a single clearing EXCHANGE owned by the a single global banking entity comprised of the central banks, i.e. the Federal Reserve and the European Central Bank.
People are having difficulty withdrawing cash from banks. I just received the SECOND call on this from California this week. The question is, do banks have the right to deny you cash withdrawals?
In the second half of the show, Max talks to financial blogger and semi-retired Wall Street executive Warren E. Pollock about MF Global, wealth confiscation and bank holidays.
I will finally be convinced the physical market has gained ascendancy when the gold price is going up 4% or 5% a day or $100. That’s going to happen.
A Toronto investment firm used clients’ money to make unauthorized trades, then produced fake account statements to cover up tens of thousands of dollars in losses