Rinse and repeat. Hedge funds. Derivatives. Catching falling knives in a falling, highly overpriced housing market. Same old stuff, always with a little different flavor added.
According to the latest New York Fed data, 13.1 percent of credit card balances are at least 90 days overdue. That’s the highest level since the late stages of the Great Recession.
The energy department claims that the effective bottom (the level at which you start destroying the salt caverns by going any lower) is 70-million barrels. That’s nonsense.
Last month, Goldman Sachs picked up on China’s undisclosed purchases, and analysts at BMO Capital estimated that Chinese gold reserves could surpass the U.S.’s within five years.
The beyond-reach gold might make obsolete the International Monetary Fund's "Special Drawing Rights," which are always awaiting formal monetization if the price control scheme collapses.
