Wednesday, September 19, 2007
Tuesday, September 18, 2007
Saturday, September 15, 2007
Northern Rock, the mortgage bank rescued by the Bank of England last week, could see as much as L12 billion -- nearly half its deposits -- withdrawn by worried savers, experts say.
The run on the bank continued yesterday as police were called in to keep the peace when angry and desperate customers besieged branches across the country despite assurances from the Treasury and Bank of England that their savings were secure.
Branches due to close at midday opened until 2 pm, but many hundreds of people were still trying to get their money when the branches closed and minor scuffles and arguments broke out.
Friday, September 14, 2007
Inflation is caused by increasing the money supply faster than increases in GDP (or value). Hyper-inflation is caused by manic increases in the money supply. Google it.
From today's Daily Reckoning,
Today comes word that the feds are bailing out the big banks as fast as their buckets allow. It is the biggest bailout in five years, say the reports...with big banks averaging about $2.7 billion per day in loans from the Fed. These injections of cash are said to be ‘forced’ by the Fed itself...rather that the result of desperation on the part of member banks. Still, recent estimates put the increase in U.S. money at nearly 50%, annualized.
Are you ready for prices to double in a year? You still have time. Buy real money.