The Monopoly game has been around since 1934. Ironically, the game of Monopoly came out at a time when the year before multiple banks had already failed and President Franklin Delano Roosevelt had declared a nationwide bank holiday to keep people from withdrawing their cash from the banks and hoarding it. How convenient was it then for the banking elite …Read More0
What’s Going On With Gold? – Where To From Here
Back in September 2010 I went out on a limb and called a top for those who trade gold and silver mining shares. My goal at the time was to have them consider taking their profits in paper gold and convert to the physical metal for delivery, what we specialize in here at Buy Gold and Silver Safely. At the …Read More0
Increase In Bank Sub-investment Grade Derivatives Reveal A Need For Gold Insurance
The financial crisis started with banks getting burned in the derivatives market. Then TARP was manipulated to help banks get cash. Next came the Federal Accounting Standards Board (FASB) allowing banks to mark to model (fantasy) their real estate assets (cheat). And now we have come full circle once again as banks own more sub-investment grade derivatives today than at …Read More0
The Real Reason Bank of America Halts Foreclosure In 50 States – They’re Broke!
The Banking Crisis Is Far From Over Revisited – FDIC Troubles and Bank Shenanigans
While we’re seeing foreclosures occurring today at a higher rate, banks are doing something today that doesn’t seem to be getting much attention. People have stopped paying their mortgages and the banks aren’t foreclosing on many of them.
Why Aren’t Banks Foreclosing on People Who Aren’t Paying Their Mortgages?Read More0
The Odds of Recession Is Over Version 2.0 Occurring Are as Likely as People Realizing Michael Moore is a Capitalist
The Banking Crisis is Far From Over
“Failed banks are weighing on FDIC” is the headline in tomorrow’s Wall Street Journal. Banks are being taken over at an alarming rate thus far in 2009. Banks aren’t lending so it is difficult for them to make a profit while at the same time they are trying to resolve their past lending decisions. Individuals are finding it difficult to secure loans with the more stringent FICO requirements. Increasing unemployment is making it difficult for many more to maintain their home ownership. As people who are now or soon to owe more than their house is worth decide to bail on home ownership, the bank will be left holding an unwanted, depreciating asset. This is occurring all at a time when banks may be forced to mark to market their assets, showing their real estate holdings value based on today’s depressed prices thus revealing balance sheets that are becoming ever more weaker.Read More0