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Number Of Delinquent Mortgages Rises
09:06:39 - 08/09/2012
As the economy goes through another rough patch, consumers are affected the most. The number of American households behind on payments or foreclosure rose slightly. This shows that the economy is nowhere near out of its housing crisis. Many people believed that the housing markets were beginning to recover but the mortgage side of the industry is still down. According to Wall Street Journal, “The Mortgage Bankers Association said 11.9% of mortgage loans on one- to four-unit homes were 30 days or longer past due or in the foreclosure process at the end of second quarter, according to a survey it released Thursday. That represents more than 5.8 million households.”
The US Needs a Free Market Revolution, Now!
17:09:04 - 08/08/2012
Dr. Yaron Brook, head of the Ayn Rand Institute joined us for a discussion about the upcoming presidential election and his new book, Free Market Revolution: How Ayn Rand's Ideas Can End Big Government. It's shocking to think that the United States achieved its greatness, largely through the operation of free market economics and that now we must all hope for a Free Market Revolution. The Founders would not believe the state of the country they founded upon the unique principals of limited government and individual sovereignty. But these concepts are finding new audiences and they are resonating with college students who've acquired six figure debts with very poor career prospects to show for it.
CFTC Investigation Into Silver Market Rigging Is A Scam
13:05:25 - 08/08/2012
Bart Chilton who's a CFTC (Commodity Future Trading Commission) Commissioner appears to be an endangered species; an honest official who wants to protect the public. But besides possibly issuing a blistering minority report, he can't do much more. The CFTC itself is a complete scam and they couldn't care less about the public. If that's not true why haven't they gone after Corzine and MF Global, which involved huge trading positions financed by stolen customer funds? Why has it taken them 4 years of soul searching to conclude an investigation that any accountant with a spreadsheet and some trading data could have completed in a beer laced weekend? And how could anyone expect a different outcome? The CFTC should never have been created. While we have no love for the SEC, they already regulate the futures and options traders anyway. The CFTC has been a regulatory backwater, pretty much a toothless tiger, since its 1974 inception. To believe that it would challenge the entrenched financial elite along with the US Government, and somehow blow the lid off of the incessant Silver Manipulators, is as Dr. Johnson said about second marriages, "The triumph of hope over experience." So get real, the only thing that will dethrone these econo-sociopaths is the ultimate crash, which is coming to a bourse near you in the not too distant future.
Bank Of England Committed To Lending
10:51:17 - 08/08/2012
First we saw the Federal Reserve then the European Central Bank and now we are seeing the Bank of England commit to their countries wellbeing by any measure necessary. According to Wall Street Journal, “Bank of England Governor Mervyn King said the bank will ‘do all it can’ to pull the economy out of recession, signaling further bond purchases using freshly created money, but ruling out a near-term cut in the key interest rate.” It seems to now be a common trend that central banks are willing to do whatever it takes to pull their economies out of a recession. This is both good and bad news. It is good news that will boost economies globally but the bad is that we will see inflation on a global scale.
Is There A Limit To How Long Governments Can Keep Us Safe From Reality
19:25:33 - 08/07/2012
Perhaps you’re unaware, but the unravelling of Europe continues at an epic pace. One half of Europe would like to live at the expense of the other half. And the people paying the bills are quickly getting fed up with the moochers. How much long will Finland put up with it, let alone Germany and the other producing nations that feel like total patsies? Thid is the important question. Usually, as Bob Hoye explained, major collapses take place in the Fall. No one has the appetite to address tragedy in the summer. The Europeans have extended vacations planned and besides, the deposits have already been paid. So what’s a few more months, when your vacation is hanging in the balance? Alasdair sees no respite from the non-stop financial collapse and he doesn’t see any of the parties putting forth workable solutions. So the net result is more of the same until the ultimate break-up of the Euro and the European Union occurs. After all, there’s really no country standing behind the Euro, just a mottly collection of central banks that are in serious decline.
Ringing The Silver Monetary Bell Of Freedom
14:32:39 - 08/07/2012
Diana Zoppa has been an indispensible part of the Freedom-Based. Libertarian site The Daily Bell. She’s handled hundreds of interviews with many of the most pre-emminent minds in the world of finance, economics and philosophy. Diana’s father believed in honest money–silver and implored Diana and her siblings to keep acquiring the shiny metal, and that one day they would thank him. And that day arrived several years ago. We’re extremely grateful that Diana will be joining us weekly to review the important trends facing you, your family and your community. She brings an international perspective, hailing from Vancouver, British Columbia, Canada and having traveled extensively. And her husband Shawn’s been involved in precious metals mining throughout his career, so Diana definitely gets the big picture.
Fed Official Ask For Bond Buying
08:23:20 - 08/07/2012
The president of the Federal Reserve Bank of Boston, Eric Rosengren, has called for the Fed to commence an aggressive bond buying program. A program that the central bank would continue until economic growth picks up and unemployment falls again. The Wall Street Journal interviewed Mr. Rosengren last night. The first Federal Reserve president to be interviewed since last week’s signal that the Fed would more than likely support new measures for economic growth.
European Austerity
16:14:22 - 08/06/2012
The Euro-zone is now relying on budget cuts in order to meet their goals. As we have seen the past when governments cut down their spending it always has a negative reaction. As governments tackle their budget cuts citizens are reacting by trading down to cheaper groceries, buying fewer big-ticket items, and other bargain prices. The biggest shift comes in groceries. European households have spent nearly double of what Americans do on food to eat at home. With higher than normal prices, European countries are dwindling their spending.
European Easing
10:41:12 - 08/03/2012
European Central Bank President Mario Draghi dimmed hopes that the central bank would take action in troubled euro-zone debt markets. This could will a global selloff. After a week of saying that they would do “whatever it takes” to save the euro, Mr. Draghi, softened his tone. Many believe that pressure from Germany had a lot to do with Mr. Draghi’s backtracking. The new ECB statement is that they would only deploy the full force of its arsenal after the regions government used their own funds to stabilize the markets. It goes to show that when it comes to stimulus plans it can be very difficult to come to an agreement on. In this case the ECB has to work on pleasing its bigger share holders such as Germany and France while being able to help the countries in trouble.
Fed To Launch Stimulus
09:45:46 - 08/02/2012
The Federal Reserve has taken another step in the direction of launching another round of stimulus but has stopped short of doing it right away. This decision came to be when the two day central bank meeting ended. According to Wall Street Journal, “’the Fed said it will "closely monitor" the economy and "will provide additional accommodation as needed to promote a stronger economic recovery and sustained improvement in labor market conditions.’ Translation: The Fed will move if growth and employment don't pick up soon on their own.” If it is one thing we have learned from such a bad economy is that it is not going to get any better any time soon. The economy is in a state where we are not only affected by our own actions but by international actions as well. It does not help us in any way that globally economies are in a rut.
Regal Assets interviews Jim Rogers
09:44:08 - 08/02/2012
Jim Rogers is a global financial luminary. He's called the market right so many times that even the Main Stream Media half listens when he speaks. They don't want to understand what he's saying, but they do listen. And now he's saying that gold may take a breather in 2012, that you need to be following your passion and you should be thinking about farming, not trading. The world is changing, has always been changing and always will be. The key is to get out ahead of the change and use it to help you find your calling. Jim found his a long time ago. Back when he started on Wall Street, it was not the glorified place that it is today--for now. Rather, it was a back water "wasteland" where the "black sheep" of the family headed. And it probably served its original purpose far better than it does today. The concept of allocating capital, distributing risk and helping the economy grow are completely alien to its current occupants. But Jim believes that in a few short years, it will go back to be a wasteland and allow the rest of the economy to grow. The Too Big To Fails have locked the Country into a cycle of failure, that will end when they finally do fail. Jim is considerate, engaging and intelligent, and he was a joy to have on our show.
Regal Assets interviews Marc Faber
09:42:58 - 08/02/2012
The renowned Dr. Doom also known as Dr. Marc Faber joined us to discuss his latest commentary that it might just be time to start looking at real estate investments in severely distressed markets such as Florida and Arizona. Dr. Faber explained his outlook for the Western Economies, his forecasts for Gold and Silver, and his take on "printing press" economics. Ever voluble, while at the same time sounding the clarion call for the collapse of civilization, Dr. Faber talks about what things make for a happy, satisfying, and content life. Never dull, Dr. Faber has always got a unique perspective on things, which is why his Gloom Boom and Doom Report is must reading.
Regal Assets interviews G. Edward Griffin
09:41:19 - 08/02/2012
G. Edward Griffin joined us to discuss the current economic climate. For those not familiar with his work, he wrote the definitive book on the Federal Reserve--The Creature From Jekyll Island, which details the shady dealings that went on to pass the Federal Reserve Act through Congress. Unfortunately too few people are familiar with this tale. Griffin has remained active in the debate and believes that everything that's going on right now is a prelude to The New World Order and universal totalitarianism. When faced with the decision to Get out of Dodge or to fight to restore the greatness of America, Griffin believes that there is nowhere to run to and nowhere to hide. He likens our contemporary struggle to that of the early founders of America. They didn't run off to Canada or Mexico, they stayed and claimed their heritage. And he doesn't propose violent resistance, which is doomed to failure, but rather a campaign of enlightenment and increasing the public's awareness of the mass criminality and ulterior agendas of those in power. He believes it only takes one percent of the country to lead the movement that can take back America. And he's not talking about Occupying Wall Street either. He is hopeful that the tide can be reversed. The Internet is the great equalizer, which allows vast amounts of knowledge and truth to be imparted at the speed of light. And this is exactly why the government and the shadowy powers are trying to restrict your access and freedom to communicate on it.
Regal Assets interviews Eric Sprott
08:56:44 - 08/02/2012
Eric Sprott had just finished his keynote address at the Hard Assets investment conference in NYC when he took a few minutes from his busy schedule to speak with us. While being rational about the recent decline, he was no happier about it than anyone else. Eric understands these markets better than almost, and he's built his fortune and reputation on the sector. Through his ETF's, his various investment and financing vehicles, he's a dominant figure in the industry. Eric says he has no intentions of selling. He made some very poignant points about numerous countries facing their Minsky Moments, the time when the government concludes it can no longer service its debt, let alone pay it off. The number of countries arriving at this crucial event is rising dramatically. So all any of us can do is simply wait and see. If you're confident in your decisions and understand the system is in a full-scale existential crisis, there's really nothing else you can do.
Regal Assets interviews Peter Schiff
08:52:37 - 08/02/2012
Peter Schiff joined us for a discussion of his latest book, The Real Crash. While much of what Peter predicted in his prior books has come to pass, the ultimate crash has yet to happen. And judging from his recent testimony at Congress, the elected representatives do not have a clue what's going and what their previous policy blunders are causing. It is evident that they have absolutely no conception of economic realities and that every dollar the government spends is forcibly removed from the private sector, thereby decreasing economic activity and lowering incomes and taxes that eventually get paid. And because they are unwilling or unable to understand these effects, the crash gets closer and closer. How many people Peter will eventually be credited with saving is anyone's guess, but he must be given credit for sounding the alarm bells earlier than just about anyone else.