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The End of Swiss Bank Secrecy (and Everywhere Else)

Written by Gary North on February 1, 2012

There used to be Swiss bank secrecy. Anyway, Americans thought so. It was always something of  myth. I reprted on this in 1976, when I worked for Ron Paul. The IRS was getting through the barriers. Now, it’s over. The U.S. has just bankrupted a Swiss bank that had no agents inside the USA, no […]

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Gold and Silver Supplies Are Getting Tight, Says Analyst

Written by Gary North on January 23, 2012

Stephen Leeb has been analyzing the markets for over 30 years. His recent comments are worth considering. “What people don’t realize about silver is how illiquid silver is, and how little physical silver that is available in the market.  Now you have the Canadian, (Eric) Sprott, who has really been spot on for more than […]

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Bernanke: “Unchained at Last!”

Written by Gary North on January 12, 2012

There was a time two decades ago when the bond traders served as a fake gold standard. No longer. The gold coin standard restrains central bank and commercial bank inflation. If they inflate, there is a run on the banks. Depositors withdraw gold coins. This forces the banks to stop inflating. The bankers hate this. […]

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Financial Reppression Gets a Shot in the Arm

Written by Gary North on January 10, 2012

Keynesians learn nothing. Here is an article on how great financial repression is when compared with liberty. Voters in the West have accepted this for 75 years. Financial repression is the name economists give to the various ways that governments encourage or force investors to buy sovereign debt at unattractive prices. Economists Carmen Reinhart and […]

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TARPed: How Congress Bailed Out Big Bank Shareholders

Written by Gary North on January 4, 2012

The story of the TARP bailout is the story of how the Federal Reserve bailed out the banks a week after the government had bailed out the banks’ shareholders. The FED could have intervened a week earlier. It didn’t. It kept the biggest banks in business, so that their shareholders would avoid losing everything. Let’s […]

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Rich, Incompetent Bankers Run the Country.

Written by Gary North on January 4, 2012

How did bank shares do in 2011? Bad. Incredibly bad, as we read here. BofA: -60.38% Citi: -44.76% Goldman Sachs: -46.41% JPMorgan: -23.03% Morgan Stanley: -45.24% RBS: -50% Barclays: -34.32% Lloyds: -63.02% UBS: -29.33% Deutsche Bank: -28,55% Crédit Agricole: -56.04% BNP Paribas: -37.67% Société Générale: -59.57% Bank of America was the biggest loser among US […]

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Your $2 Million Tax Obligation

Written by Gary North on January 2, 2012

Each year, David Collum produces a review. It covers a lot. Let me begin with the overall assessment. We have a massive global debt problem that will take years to unwind. Some think it is a zero-sum game, but I disagree. The World is blanketed with people fully aware of what has been promised to […]

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Bank Shares: Down, Down, Down. There Is a Good Reason.

Written by Gary North on December 14, 2011

The banks are in trouble. They have been the worst-performing sector in 2011. If the economy is strong, why are the banks weak? A Reuters story reveals the problem. The sector is down 20 percent this year, by far the worst performer in the S&P 500. The weakness has been so pervasive that the S&P, […]

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