It is the 16th of October 2019

News

The Washington Post Accuses Stingy Americans Of Ruining Obama's Recovery

Every year it's the same: some legacy mainstream media mouthpiece muses on how great Obama's recovery would be... if only it wasn't for stingy US consumers refusing to spend like the drunken sailors of days gone by. Last June, it was the WSJ's Jon Hilsenrath who actually wrote a letter to American consumers, confused by their unwillingness to spend and explicitly accused them of being "stingy" even as the "Federal Reserve was counting" on them to spend, spend, spend. For those who have forgotten this absolute pearl, here it is again:

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Pimco Economist Has A Stunning Proposal To Save The Economy: The Fed Should Buy Gold

Back in December 2014, just before the ECB officially launched its initial phase of QE in which it would monetize government bonds, Mario Draghi was asked a very direct question: what types of assets could the ECB buy as part of its quantitative easing program. He responded, "we discussed all assets but gold."

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Days After Wells Fargo Admits Defrauding The Government, NY Fed Rewards It With Primary Dealer Status

Back on April 9 we described the latest example of how criminal Wall Street behavior leads to zero prison time and just more slaps on the wrist, when Warren Buffett's favorite bank, Wells Fargo, admitted to "deceiving" the U.S. government into insuring thousands of risky mortgages.  According to the settlement, Wells Fargo "admits, acknowledges, and accepts responsibility" for having from 2001 to 2008 falsely certified that many of its home loans qualified for Federal Housing Administration insurance.

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Kyle Bass On The Resurgence Of Gold And The Looming "Run On Cash"

Hayman Capital founder Kyle Bass sat down recently for a conversation with Maria Bartiromo and Gary Kaminsky on Wall Street Week. He covered a variety of topics such as NIRP, income inequality, and the U.S. presidential race. As our regular readers know, Kyle correctly predicted the housing crisis, and is now calling for the yuan to be dramatically devalued.

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