(ZeroHedge) – Precious Metals Surge As QE3 Now Merely A Formality
We dont have real time pricing on spam, but luckily we do on gold and silver. And to all those who BTFD in the past 2 weeks as we suggested, congratulations. Next up: another futile CME margin hike which will do nothing but confirm that a standalone gold standard is imminent. View More Here
(AEI) – Systemic Risk Returns: Is the Current Crisis Worse Than the Lehman Collapse? – Read More Here
(CNBC) – Economy Gains No Jobs in August, Fueling Recession Fears – Read More Here
(NYT) – Fed Agency Set to Sue a Dozen Big Banks Over Mortgages
The Federal Housing Finance Agency suits, which are expected to be filed in the coming days in federal court, are aimed at Bank of America, JPMorgan Chase, Goldman Sachs and Deutsche Bank, among others, according to three individuals briefed on the matter.Read More Here
(ZeroHedge) – Massive Wave Of Lawsuits To Be Filed By The US Against America’s Biggest Banks As Soon As Tomorrow
In a move that could either send BAC stock limit down overnight or send it soaring (we are still trying to figure out just what is going on here), the NYT has broken major news that the US is preparing to go nuclear on more than a dozen big banks among which Bank of America, JPMorgan Chase, Goldman Sachs and Deutsche Bank, in an attempt for Fannie and Freddie to recoup $30 billion if not much more. Read More Here
(CNBC) – We Are in ‘Worse Situation’ Than in 2008: Roubini
The world’s developed economies are trapped at the “stall speed” of low growth and need to have greater fiscal stimulus and less austerity to kick-start growh, leading economist Nouriel Roubini told CNBC Friday.
Speaking at the Ambrosetti Forum on the shores of Lake Como, near Milan, Roubini said in an interview: “We are in a worse situation than we were in 2008. This time around we have fiscal austerity and banks that are being cautious.” Read More Here