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7.7.15 - What to do in today's shaky financial world

Gold last traded at $1,152 an ounce. Silver at $14.69 an ounce.

NEWS SUMMARY: U.S. stocks fell Tuesday as the ongoing uncertainty surrounding the Greek debt crisis weighed on global financial markets. Bloomberg reports, "The Shanghai Index sank for the fourth time in five days, erasing more than $3.2 trillion of value in less than a month." Meanwhile, a sharply lower Euro boosted the U.S. dollar, sending commodity and precious metal prices lower.

IMF warns Fed on risks of hiking too soon -Marketwatch
"Hiking interest rates too soon could stall the U.S. economy, the International Monetary Fund said Tuesday, embellishing a prior call for the Federal Reserve to hold steady until early next year. A rate hike could push up the dollar, which is already slightly overvalued. Further appreciation of the greenback is 'an important risk to growth,' the IMF said." As covered in The Biggest Bank Heist in History, authors Craig Smith and Lowell Ponte do not expect the Fed will be in a position to raise interest rates until 2016 or later. This Research Reports explains how and why the FED's free money to big banks has left our economy and wages stagnant - while creating the biggest stock market bubble in history!

banking States face shaky financial futures; pensions at risk -USAToday
"Alaska, the Dakotas, Nebraska and Florida are on the most solid financial footing, according to rankings of the 50 states released Tuesday by the Mercatus Center at George Mason University. New York, Connecticut, Massachusetts, New Jersey and Illinois are at the bottom. In Illinois, ranked No. 50, the government used funds set aside for future pensions to pay more urgent bills. When the pensions came due, Illinois tried to cut them. A judge ruled this past May that Illinois' pension cuts were unconstitutional. But that left the state with no plan to deal with a growing list of debts."

Greeks think 'manana' can be every day -Telegraph
"President Obama intervenes in Greek talks after Athens delegation turn up to summit without new reform proposals. Obama urges for successful conclusion to Greek talks as EU leaders openly discuss ways to manage a 'Grexit' 'If the Greek government is always for 'manana', for us it can be 'manana' every day' said Dalia Grybauskaite, the president of Lithuania. She adds the Greek delegation only presented 'pictures not paper' at the eurogroup."

THE GREEK SHOWDOWN explains what to expect next...

This Greek contagion might start an avalanche of falling dominoes as other countries renege on their debts, and threaten to leave the Euro and return to their old currencies such as the Greek Drachma. A “Grexit” (Greek Exit) could influence PIIGS nations to leave the Eurozone, Great Britain’s upcoming referendum to exit (“Brexit”) the European Union (EU), and France’s potential exit (“Frexit”) from both the Euro and EU if Marine LePen’s nationalists come to power.

This could shatter the unity Europe has been trying to build around the Euro as a rival to the U.S. Dollar.

The Euro was an effort doomed to fail, Nobel laureate economist Milton Friedman warned before the new currency was launched, because Second and Third World nations such as Greece cannot be equal allies with First World economic powers. The stronger powers that control the currency will economically colonize and dominate the weaker.

Good Luck Finding a Place to Hide as Global Markets Crumble -Bloomberg
"Investors tend to respond to impending doom by selling risky stuff and hiding out in safer assets - namely, bonds in places such as Germany and the U.S. There’s a problem with that formula this time around: Traders aren’t so sure they can find anything that’s truly safe right now. After all, where will investors run? The government debt that used to be their safety looks more and more treacherous." For over three decades Swiss America has maintained that the simplest form of wealth insurance is converting shaky, debt-based paper assets into the safest assets on earth - physical gold and silver - which are at the best prices we have seen in five years! Call 800-289-2646.

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7.6.15 - What Greek "No!" vote means

Gold last traded at $1,173 an ounce. Silver at $15.75 an ounce.

NEWS SUMMARY: Stock indexes in the U.S., Europe and Asia fell Monday on news of Greek voters' rejection of EU bailout terms. Meanwhile, commodities prices fell sharply amid uncertainty, a weaker Euro and flat U.S. dollar. Precious metals alone rose on fresh safe haven buying.

Craig Smith and Lowell Ponte have been warning Americans about the potential economic impact in their books, research reports and media interviews. "Soon we could see the same outcome in America. It is only a matter of time with all debt-ridden countries," explains Craig Smith in THE GREEK SHOWDOWN Research Report.

The ancient Greeks invented democracy. Have modern Greeks just manipulated democracy to commit suicide - or to kill the Euro currency, destroy a united Europe, and undermine America’s economy as well?

On Sunday, July 5, Greeks voted “No” by roughly 61 percent in a national referendum to, as the New York Times put it, “reject bailout terms in rebuff to European leaders.”

GreekFlag Greece’s 11 million people have run up debts of €320.4 Billion ($353 Billion) – more than a third of a trillion dollars – with a profligate, politicized welfare state that let workers in any of 1,200 “dangerous” occupations, including radio announcers and hairdressers, retire at age 50 with a pension equal to 80 percent of their peak lifetime annual pay.

Before capital controls on its banks limited account holder withdrawals to $67 per day, a national bank run was draining more than $2 Billion from its banks every three days. Even with such controls, without more bailout money from the European Central Bank (ECB), Greece’s banks will begin running out of money by Tuesday.

Without an ECB rescue, banks and the Syriza government might then begin “bail-ins,” seizing depositor accounts to cover bank shortfalls, as happened in March 2013 in the Greek-speaking Mediterranean island of Cyprus.

Greek banks prepare plan to raid deposits to avert collapse -
"Greek banks are preparing contingency plans for a possible 'bail-in' of depositors amid fears the country is heading for financial collapse, bankers and businesspeople with knowledge of the measures said on Friday. The plans, which call for a 'haircut' of at least 30 per cent on deposits above €8,000, sketch out an increasingly likely scenario for at least one bank, the sources said. A Greek bail-in could resemble the rescue plan agreed by Cyprus in 2013, when customers’ funds were seized to shore up the banks, with a haircut imposed on uninsured deposits over €100,000."

Greece ‘48 Hours Away From Unrest’ - Bloomberg
"Greek Prime Minister Alexis Tsipras probably has 48 hours to resolve a standoff with creditors before civil unrest breaks out and ATMs run out of cash, hedge fund Balyasny Asset Management said. Fund managers are questioning how the International Monetary Fund and Europe’s leaders can seal a deal with Athens following the 'no' vote in a Greek referendum on Sunday."

Will the EU mess trigger a Gold & Silver Derivatives Default? - KingWorldNews
“The top 5 US banks have total a derivative exposure of $247 trillion. This is 3.5 times world GDP. Total derivatives for all banks in the world are just over $600 trillion. But these figures are less than half of the real exposure. A few years ago the BIS in Basel changed the basis of valuation of derivatives to 'Value to Maturity.' Within the derivative numbers of the top US banks we are now seeing some surprising changes in the precious metals. The notional amount of precious metals has gone from $22 billion in Q4 2014 to $75 billion in Q1 2015 and Citigroup accounts for most of that increase....the combination of the world economic problems and the massive derivative exposure makes the situation in the metals explosive.”

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7.2.15 - Financial Independence Day

Gold last traded at $1,163 an ounce. Silver at $15.56 an ounce.

NEWS SUMMARY: U.S. stocks fell Thursday on soft jobs data and uncertainty about the outcome of the Greek debt vote on Sunday. Meanwhile, the euro traded higher against the U.S. dollar and precious metal prices ended the week slightly lower. The U.S. financial markets, as well as Swiss America, will be closed on Friday in observance of Independence Day.

The real unemployment rate is 10.5% - CNBC
"The U.S. Labor Department said Thursday that the unemployment rate was 5.3% in June - but does that rate tell the real story? A number of economists look past the 'main' unemployment rate to a different figure the Bureau of Labor Statistics calls 'U-6,' (currently at 10.5%) which it defines as 'total unemployed, plus all marginally attached workers plus total employed part time for economic reasons, as a percent of all civilian labor force plus all marginally attached workers.' In other words, the unemployed, the underemployed and the discouraged - a rate that still remains high."

U.S. labor force devastation continues - ZeroHedge
"In what was an 'unambiguously' unpleasant June jobs payrolls report, with both April and May jobs revised lower, the fact that the number of Americans not in the labor force soared once again, this time by a whopping 640,000 or the most since April 2014 to a record 93.6 million, with the result being a participation rate of 62.6 or where it was in September 1977....Year-over-year, factory orders dropped 6.3% (adjusted) but 8% non-adjusted, the most since the financial crisis....Since 2007 the US has lost 1.4 million manufacturers and gained 1.4 million waiters and bartenders."

independence Financial Independence Day - Jack Nadel/HuffPost
"Once again, we will joyfully celebrate the birth of an independent nation. However, for millions of American families, financial independence is just a distant dream. I worry because so many are struggling for economic survival. Creating a personal 'Financial Independence Day' for all people is a very ambitious goal and will require much innovation and commitment, but it is entirely possible....I urge you to start with Step One of my method: Identify a Business Idea That You Love (and genuinely inspires you)." For nations, as well as individuals, the keys to financial independence are simply; 1. to earn all you can, 2. to save all you can, 3. to get out of debt as much as you can, and 4. to give all you can. Creating your own personal financial independence day also requires converting some of your assets that are 'dependent' upon government confidence and debt (i.e. U.S. dollars) into assets that are 'independent' of debt and actually create confidence - physical gold and silver! Discover the The Timeless Truth About Gold & Silver!

The American Dream is suffering - BMGlobalNews
"The Atlantic/Aspen Institute's 'The American Dream' June 2015 key takeaways; The American Dream is perceived to be suffering. While majorities within almost all key demographic groups believe the American Dream is suffering, white Americans are more pessimistic than other ethnic groups. Those over 65 years old are most likely to believe they are living the dream - 66% vs only 41% of Millennials (under 30 years old). While most age and ethnic groups are split as to whether the dream is attainable for most or only a few Americans, strong majorities (over 60%) believe it remains achievable if you work hard."

Will Greeks defy creditors’ ‘blackmail’? - FinancialTimes
"The ECB’s governing council on Wednesday evening decided not to increase the amount of collateral required for the emergency loans currently sustaining Greek banks. Tougher haircuts on bank collateral could push some lenders over the edge, some eurozone officials fear. 'I’m afraid that Greek banks might not reopen with the euro as the currency if the referendum on Sunday ends with a no,' Peter Kazimir, the Slovak finance minister, wrote on Twitter." Read THE GREEK SHOWDOWN, a new Research Paper available FREE to understand who will be the next Greece.

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7.1.15 - Gold: Safety From Uncertainty

Gold last traded at $1,169 an ounce. Silver at $15.57 an ounce.

NEWS SUMMARY: U.S. stocks rose Wednesday as investors digested mixed economic data amid renewed hopes of a Greece debt deal. Meanwhile, the U.S. dollar rose, pushing commodities and precious metal prices lower temporarily.

Greek crisis deepens - USA Today
"Greece's midnight deadline passed Tuesday for repaying $1.8 billion to the International Monetary Fund and other international creditors, deepening a financial crisis that threatens the Mediterranean nation's membership in the European Union. After the deadline passed (at 6 pm ET), Greece joined Zimbabwe, Sudan and Somalia in being in arrears to the IMF. Fitch Ratings has downgraded Greece's government debt further into junk territory. But should there be a so-called Grexit - or Greek exit from the European financial community - President Barack Obama said "it is important for us that we plan for any contingency, that we work with the ECB and other international institutions to ensure that some of the bumps that occur in the financial markets are smoothed out." Read THE GREEK SHOWDOWN, a new Research Paper available FREE by calling 800-289-2646.

Heartbreaking Scene Unfolds At Greek Banks - ZeroHedge
"1,000 Greek bank branches chanced a stampede in order to open their doors to the country's retirees on Wednesday. The scene was somewhat chaotic as pensioners formed long lines and the country’s elderly attempted to squeeze through the doors in order to access pension payments....A retired mariner who asked not to be named, told AFP he had no cash to buy crucial medicine for his sick wife. 'I worked for 50 years on the sea and now I am the beggar for 120 euros,' he said. 'I took out 120 euros - but I have no money for medication for my wife, who had an operation and is ill,' he added." Read THE SECRET WAR, a new Research Paper by Craig R. Smith & Lowell Ponte

coins With Greek Uncertainty, Investors Seek Safety in Gold - WSJ
"European demand for the age-old safe haven of gold coins has risen in recent weeks, as has the relatively new concept of investments in digital bitcoins, market participants say....Retail investors who buy coins and bullion have been influenced, Mr. Hanlon said, by the images of bank lines in Athens far more than by concerns about monetary policy in the U.S. over the past few years."

Many ask why the dollar price of gold has not risen more this year, given all the economic uncertainty? Truth is, gold prices started the year at about $1,200 an ounce and have clung near that level all year long - demonstrating the stability of gold in the face of an artificially stronger U.S. dollar and stock market. It is never too late to get started converting some cash into hard money for liquidity, safety and wealth preservation. In fact, a top performing asset over the past 15 years is now presenting gold buyers with an opportunity not seen since 2007. We are now buying them aggressively. We firmly suggest you at least grab a few of these, at minimum, while they are available. SEE details and performance chart

Greece Can Teach The World A Needed Lesson - Steve Forbes
"Former US Presidential candidate and publisher of Forbes Magazine, Steve Forbes, used the platform of his magazine to pen an open letter to the prime minister and finance minister of Greece, Alexis Tsipras and Yanis Varoufakis. Here’s how you can put away your beggar’s cup for good.... Adopt your own 10% flat tax....Privatization....Stop trashing former Greek residents or those of Greek descent who want to help out by investing in Greece....Change labor laws that kill job creation....Don’t even think of abandoning the euro....And, for goodness’ sake, don’t pull a Cyprus and confiscate bank deposits."

The Surprising Power of Cash - Wired
"There’s a scene in It’s a Wonderful Life you might remember. The citizens of Bedford Falls descend on the Savings and Loan, demanding cash in hand. A beleaguered George Bailey explains that the money’s not actually in the bank; it’s tied up in various investments. Eventually, he talks most of them down. In the 21st century, though, and in Greece this week in particular, there is no George Bailey. In fact, in Greece this week there are no open banks. There are just ATMs. As economies crumble, so does the viability of the digital infrastructure that so much of the world has come to take for granted as the way money moves. The harder an economy is hit, the more valuable cash becomes. But as Greek citizens coming away from ATMs empty-handed can attest, it turns out that money and currency aren’t the same thing."

Excerpt from DON'T BANK ON IT!, “It’s a Wonderful Life”, page 195-196 ...

One theme of the 1946 Frank Capra movie “It’s a Wonderful Life” was Bailey being shown what his community would have been like if he and his little bank had never existed.

We are now beginning to see that alternative future in our own world, and what it portends is not pretty.

As our banks become mere middlemen for government money, how long will it be until government simply eliminates these middlemen and itself becomes America’s bank?

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