Silver as an investment

Category Archives: New Century

Government By Goldman

Authored by Gary Rivlin and Michael Hudson via The Intercept, in partnership with The Investigative Fund, Steve Bannon was in the room the day Donald Trump first fell for Gary Cohn. So were Reince Priebus, Jared Kushner, and Trump’s pick for secretary of Treasury, Steve Mnuchin. It was the end of November, three weeks after Trump’s […]

The Secret History Of The Banking Crisis

Authored by Adam Tooze via ProspectMagazine.co.uk, Accounts of the financial crisis leave out the story of the secretive deals between banks that kept the show on the road. How long can the system be propped up for? It is a decade since the first tremors of what would become the Great Financial Crisis began to […]

Contagion Fears Rise In Aftermath Of Home Capital Group Collapse

With the bank run at Home Capital Group hitting a crescendo on Friday, when in one day 36% of the liquidity at Canada’s largest non-bank lender escaped through the front door, and only an emergency rescue loan yielding over 20% has prevent a liquidation at HCG so far, suddenly some are wondering if the dreaded […]

Canada Housing Regulator Warns Of “Strong Evidence Of Housing-Market Problems”

In an perculiar coincidence, just hours after Home Capital Group imploded in what we dubbed Canada’s “New Century” moment, Canada’s housing regulator, the Canada Mortgage And Housing Corporation, which describes itself as “contributing to the stability of the housing market and financial system” moments ago the CMHC issued a report, warning that there is “strong […]

Canada’s Housing Bubble Explodes As Its Biggest Mortgage Lender Crashes Most In History

Call it Canada’s “New Century” moment. We first introduced readers to the company we said was the “tip of the iceberg in Canada’s magnificent housing bubble” nearly two years ago, in July 2015 when we exposed a major problem that we predicted would haunt Home Capital Group, Canada’s largest non-bank mortgage lender: liar loans in […]

Buchanan Asks “Is Putin The ‘Preeminent Statesman’ Of Our Times?”

Authored by Patrick Buchanan via Buchanan.org, “If we were to use traditional measures for understanding leaders, which involve the defense of borders and national flourishing, Putin would count as the preeminent statesman of our time.   “On the world stage, who could vie with him?” So asks Chris Caldwell of the Weekly Standard in a […]

America’s Miserable 21st Century

Via Nicholas Eberstadt of CommentaryMagazine.com, On the morning of November 9, 2016, America’s elite—its talking and deciding classes—woke up to a country they did not know. To most privileged and well-educated Americans, especially those living in its bicoastal bastions, the election of Donald Trump had been a thing almost impossible even to imagine. What sort of […]

US Unleashes New Sanctions On Iran; Russia Says “Counter-Productive”

The U.S. imposed fresh sanctions on Iran as President Donald Trump seeks to punish Tehran for its ballistic missile program after warning the Islamic Republic that it is “playing with fire." As Bloomberg reports, the Treasury Department published a list of 13 individuals and 12 entities facing new restrictions, some for contributing to proliferation of […]

Subprime Snaps: Largest US Subprime Auto Lender Delays Earnings Due To “Accounting Matters”

We first introduced readers to Skopos Financial, a company which we dubbed “The new king of deep subprime” which we have long expected to become ground zero for the upcoming subprime auto crisis, and which is run by Santander Consumer USA veterans, last April. This is what we said about the company that has become […]

Wells Fargo Reintroduces 3% Down Mortgages

In the wake of its recent $1.2 billion settlement with the government, whereby Wells Fargo admitted to deceiving the government into insuring thousands of risky mortgages (yet nobody went to jail), the bank has decided to break with the Federal Housing Administration and offer its own minimal down payment mortgage program. The new program partners […]