from Zero Hedge:
…”Mutual funds, hedge funds, and ETFs, are part of the “shadow banking system” where these modern “banks” are not required to maintain reserves or even emergency levels of cash. Since they in effect now are the market, a rush for liquidity on the part of the investing public, whether they be individuals in 401Ks or institutional pension funds and insurance companies, would find the “market” selling to itself with the Federal Reserve severely limited in its ability to provide assistance.”
“That an ETF can satisfy redemption with underlying bonds or shares, only raises the nightmare possibility of a disillusioned and uninformed public throwing in the towel once again after they receive thousands of individual odd lot pieces under such circumstances.”
Read More @ ZeroHedge.com
James Turk: “The inevitable finally happened, Eric. The Greek financial system is collapsing. We can’t say yet that it has “collapsed” because we are not there yet. The collapse is just beginning. At this time, we do not know where all the pieces will fall….
I’d like to go back to the 2008 crisis to put what is happening in Greece into perspective. The collapse of Lehman Brothers in September 2008 is widely used to define the date of that crisis. But the writing was already on the wall that an earth-shaking financial event was due even before Lehman collapsed. So where did the 2008 financial crisis actually begin?
James Turk Continues @ KingWorldNews.com
Shanghai composite and Shenzhen composite down 7.4 and 7.9 percent respectively in one day.
The Chinese stock market has been one of the hottest tickets lately. The US stock markets might seem overvalued but in comparison to China with relatively new financial checks and balances, the US looks like a conservative old timer. Stocks in China are already deep into ridiculous pricing territory. You have an army of uneducated investors diving in hand over fist trying to get a piece of the action. In the US, there is little activity in the stock market from our massive low wage labor pool. In China, from poor to wealthy stock speculation is now taking the baton from the boring correcting real estate market. On Friday, all stock markets in China took it on the chin. The two largest exchanges with the Shanghai composite and the Shenzhen composite fell hard, 7.4 and 7.9 percent respectively. How bad is that? Imagine the Dow Jones Industrial Average losing 1,300 points in one day. That is how bad it was in China on Friday.
Read More @ MyBudget360.com
by Kali Sinclair, Natural News:
Dr. Jeff Bradstreet’s body was found floating in the Rocky Broad River in Chimney Creek North Carolina. A handgun was found in the river. Deputies say the gunshot wound to his chest appeared to be self-inflicted.
When suicide occurs, there are always questions. The reason why is, of course, the first. Was the person facing prison? Divorce? Public humiliation? Even if the reasons are never found, we are rarely left questioning the means.
The means are a combination of availability, seriousness of intent, and knowledge of anatomy. For men, the most likely means is a firearm – 56% in fact. Most have the sense to shoot themselves in the head. Self-inflicted shots to the chest are often survived.
Read More @ NaturalNews.com
from Off Grid Survival:
What’s going on in Greece right now should serve as a warning sign for the entire world.
For the people of Greece, it’s far past time to prepare for the coming storm. Walk down any street in Greece and you will see people panicking, trying to buy up last minute supplies, or waiting for hours in line at an ATM that stopped spitting out money days ago. In Greece, the global financial meltdown has hit center stage.
Stunned Greeks, or at least the ones who ignored warnings, sit overwhelmed as the country’s banks shutdown, super markets are stripped bare by panicked and unprepared residents, and the country plunges into crisis. The deteriorating conditions comes as Greece is about to default on their debt.
Read More @ OffGridSurvival.com
from Paul Craig Roberts:
…when you see that men get richer by graft and by pull than by work, and your laws don’t protect you against them, but protect them against you–when you see corruption being rewarded and honesty becoming a self-sacrifice–you may know that your society is doomed. – Ayn Rand, “Atlas Shrugged”
There’s no such thing as markets anymore – only interventions. – Chris Powell, co-founder and Treasurer of GATA
Ayn Rand is a pariah among those who believe that government is our benefactor. There are times and conditions when government can be a benefactor of the people. But not in the Western world at the present time. As Michael Hudson and I agree, Western central banks refuse to create money to finance economy recovery. Money is created only for the benefit of the oligarchs’ banks in order that the oligarchs can continue to control the governments.
Read More @ PaulCraigRoberts.org
from Ready Nutrition:
As preppers, we know how important hunting is. We know it’s a crucial part of surviving any situation that lasts more than a few days. Heck, most preppers probably are hunters, or have done it at least once before. But for those of you who haven’t, there’s a dirty little secret about hunting that I’d like to share with you.
I’m by no means a veteran in this department. I’ve only hunted on a few occasions in my life, but I’ve done it enough to know the most important thing every beginner should know before their first time. And no, it has nothing to do with marksmanship, or how to stalk prey, or how to clean the animal afterwards, even though those are also really important. Despite but despite how important this fact is, I also suspect that it is the one thing most hunters won’t, or don’t want to talk about.
Read More @ ReadyNutrition.com