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State of the Union (2014 Political Remix Video)
Tag Archives: Middle Class Dismissed
Gerald Celente: Bitcoin, Economic Turmoil and Revolution in 2014
“In this video Luke Rudkowski interviews business consultant Gerald Celente on the upcoming future U.S economy and revolutionary trends for 2014. Gerald Celente is an American trend forecaster, publisher of the Trends Journal, business consultant and author who makes predictions about the global financial markets and other events of historical importance.”
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Faber Sees `Gigantic’ Asset Bubble, Slowing Growth
“Marc Faber, publisher of the Gloom, Boom & Doom report, talks about the impact of Federal Reserve policy on the global economy, Bitcoin and financial markets. He speaks with Trish Regan and Adam Johnson on Bloomberg Television’s ‘Street Smart.'”
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China Awash in Money; Leaders Start to Weigh Raising the Floodgates
“Move over, Janet Yellen and Ben Bernanke. Step aside, Mario Draghi and Haruhiko Kuroda. When it comes to monetary stimulus, Zhou Xiaochuan, the longtime governor of the People’s Bank of China, has no rivals. The latest data show that the country’s rapid growth in money supply has continued. Mr. Zhou and his colleagues at the Chinese central bank have only begun the difficult and dangerous task of reining it in. The amount of money sloshing around China’s economy, according to a broad measure that is closely watched here, has now tripled since the end of 2006. Housing prices have soared, feeding fears of a bubble while leaving many ordinary Chinese feeling poor and left out.”
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China’s Great Inflation Helped Bring the Communists to Power
“When combined with war, inflations tear apart the human community. One example is the Great Chinese Inflation of the 1930s and 1940s. Indeed, the destruction of the Chinese monetary system during this period helped Mao Zedong’s communist movement to triumph on the Chinese mainland in 1949. In the nineteenth and early twentieth centuries, Imperial and then Republican China had no central bank. The monetary system was based on a diverse network of private banks operating in the various regions of the country. While copper was widely used in coins, the primary medium of exchange was silver, and the entire Chinese economy functioned on an informal silver standard.”
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Greek Government Passes New Property Tax Legislation
“The new property levy, which has been years in the making, aims to boost Greece’s budget revenues by rolling several taxes into one, but is also seen as harming the economy’s expected rebound next year, driving dented property prices even lower. The law imposes a tax on residential housing, commercial properties, vacant property lots, farms and sports fields and aims to raise some €2.6 billion ($3.55 billion) per year and offers discounts to those who prove they cannot afford to pay it. In September 2011, Greece imposed a real-estate tax that it placed on electricity bills and is collected by the country’s power company.”
http://online.wsj.com/news/articles/SB10001424052702304866904579272000551853972
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The ‘Cheapest’ Country in the World
“In socialist Venezuela, those with access to foreign currency can propel themselves into the one percent, flying around the world and living in five-star hotels, while locals earning in Bolívares battle one of the most expensive economies on the planet, struggling to find and afford basics such as cooking oil, chicken and toilet paper. Fed by inflation, the divide has grown rapidly in tandem with the expansion of the black market. Those with dollars, or any hard currency, are able to take advantage of the thriving black market by buying local money either in shady street deals or in white-collar transactions with willing brokers by transferring their money between international bank accounts.”
http://world.time.com/2014/01/23/venezuelas-currency-controls-propels-those-with-connections/
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Erosion of Argentine Peso Sends a Shudder Through Latin America
“Cities across Argentina are still unnerved by all the looting that broke out last month after police officers went on strike, protesting salaries eroded by rampant inflation. Residents fumed over blackouts that left them sweltering during a recent heat wave. Then the currency plunged this week, the steepest decline since the nation’s economic collapse in 2002, stirring fears that another major financial crisis could be around the corner. The pressures have been building for years. Generous social spending after the crisis in 2002, like freezing household electricity rates and making payments to poor families, has widened Argentina’s deficit. The country has been printing money, fueling inflation.”
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HSBC imposes restrictions on large cash withdrawals
“Some HSBC customers have been prevented from withdrawing large amounts of cash because they could not provide evidence of why they wanted it, the BBC has learnt. Listeners have told Radio 4’s Money Box they were stopped from withdrawing amounts ranging from £5,000 to £10,000. HSBC admitted it has not informed customers of the change in policy, which was implemented in November. The bank says it has now changed its guidance to staff. Money Box asked other banks what their policy is on large cash withdrawals. They all said they reserved the right to ask questions about large cash withdrawals.”
http://www.bbc.co.uk/news/business-25861717
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Venezuela Devalues Bolivar By Another 44%; Inflation Rages At 50%
“Venezuelans traveling abroad and airlines will use Sicad FX rate which was last 11.36 bolivars per dollar. Those spared from the most recent devaluation, for now, are students abroad, pensioners, retirees, consular and diplomatic services who will continue using 6.3 bolivars/USD rate. This follows comparable steps taken in late December, when the Bolivar was devalued by the same amount for any non-residents and tourists entering the nation, as the nation unrolled its centrally-planned currency regime in which the Bolivar is offered through a dollar-auction system called Sicad.”
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