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1 Through 30 – The Coming U.S. Financial Crisis By The Numbers http://albertpeia.com/1-30usfinancialcrisiscoming.htm ‘The United States is drowning in a sea of red ink from coast to coast and most Americans have absolutely no idea what is about to happen.  Hopefully you have started to prepare for the coming U.S. financial crisis.  If not, hopefully this article will be a wake up call for you.  Right now, governments all over Europe are on the verge of financial implosion.  Most Americans aren't paying much attention to that, but they should be, because what is happening to Greece and Italy right now will eventually be happening here.  Just recently, the U.S. national debt passed the 15 trillion dollar mark.  State and local government debt is also at record levels.  Tens of millions of American families are in debt up to their eyeballs, and millions more Americans fell into poverty last year.  Meanwhile, the "too big to fail" banks just keep getting larger and the Federal Reserve continues to inflate the debt bubble.  At some point this debt bubble is going to burst, and when it does it is going to unleash financial hell all over America… , Dave’s Daily: http://www.etfdigest.com MARKET RALLIES ON FED-PLANTED STORY 3-7-12 ‘Things were going along without much change in markets until -- wait for it -- the Fed was rumored (let’s say they planted a story as a trial balloon) to be considering a sterilized version of QE3. The story was planted featured in the WSJ. This again is mana for bulls and they can’t get enough of it. , Jim Grant Must Watch: "Capitalism Is An Alternative For What We Have Now" Durden 3-7-12 , Perspectives On A Printing Press Pause Durden 3-7-12 , Switzerland Wants Its Gold Back From The New York Fed Durden 3-7-12 [ Good luck with that. As with fort knox as well, I personally believe much of the real gold (some gold-plate bullion around) has been looted. I bet the American criminals refuse based on some tenuous pretext to cover for the theft.) Earlier today, we reported that Germans are increasingly concerned that their gold, at over 3,400 tons a majority of which is likely stored in the vault 80 feet below street level of 33 Liberty (recently purchased by the Fed with freshly printed money at far higher than prevailing commercial real estate rates for the Downtown NY area), may be in jeopardy,and will likely soon formally inquire just how much of said gold is really held by the Fed. As it turns out, Germany is not alone: as part of the "Rettet Unser Schweizer Gold", or the “Gold Initiative”: A Swiss Initiative to Secure the Swiss National Bank’s Gold Reserves initiative, launched recently by four members of the Swiss parliament, the Swiss people should have a right to vote on 3 simple things: i) keeping the Swiss gold physically in Switzerland; ii) forbidding the SNB from selling any more of its gold reserves, and iii) the SNB has to hold at least 20% of its assets in gold. , Central Bank Attempt To Sucker In Retail Investors Back Into Stocks Has Failed Durden 3-7-12 , China Moves To Further Marginalize Dollar: Offers CNY-Denominated BRIC Loans Durden 3-7-12 Today we observed how as the US is considering releasing crude from its Political, pardon Strategic Petroleum Reserve, China was doing just the opposite. Now, in a further step confirming that China is acting as a much more rational capitalist power, and is rapidly encroaching on the "reserve" status of the sacrosanct USD, the FT writes that China intends to extend renminbi loans to other BRIC nations in "another step toward the internationalisation of its currency." To those following the stealthy Chinese incursion into currency markets as a dollar alternative, this is not news: already we know that China and Japan have bypassed the dollar entirely and now engage in direct bilateral trade using JPY and CNY (even as most other nations in Asia have developed bilateral agreements to transact in a non dollar basis). This is merely the latest incremental step which will see China become the dominant player in the currency arena, and further puts to doubt the fate of the US Dollar as the default currency. Of course, the market will not acknowledge any of this until the developing (i.e., non-insolvent world) is transacting entirely with US intermediation. And at that point, the US will be merely another Zimbabwe case study, where it can print all the money it wants to fund its deficit, and the only ones who care will be wheelbarrow manufacturers. , January Consumer Credit Surges As Government Blows Student Debt Bubble To Epic Proportions Durden 3-7-12 , Tim Price On One Of The Most Overlooked Aspects Of The Financial Crisis Durden 3-7-12 An engineer, a biologist and an economist are washed ashore on a desert island. After a few days without food they are starving. Eventually, they stumble on a can of beans on the beach. They spend a few minutes considering how they might feed themselves. The engineer is the first to speak: "We could hit the can with a rock until it opens." The biologist counters, "We could suspend the can in a seawater solution and wait for erosion to work its magic." The economist is last to contribute: "Let's just assume we have a can-opener." OK, so it's not the funniest joke in the universe. But it has the ring of truth. , The Bears Explain The Price Of Gas (Special GOP Primary Edition) Durden 3-7-12 In their own inimitable manner, the two bears are back to take on gas prices. Dismissing the higher demand thesis, concerns of the lack of supply, instability in the Middle East, and of course speculators (the same ones who were blamed for financial stocks' deterioration), our favorite speakers-of-the-truth point to what is the only relevant factor - the falling dollar. The Bernank once again stars for his schizophrenic perspective of asset price rises. , The Death of The PIIGS Illustrated Durden 3-7-12 Yesterday we pointed to the fundamental reason for Europe's angst - that of dramatic imbalance across nations finances. Today we look at the implications of the growing concerns at sustainability of the Euro-area itself. Deposits are fleeing the PIIGS at ever faster rates, growth remains a dream as PMIs for most of the PIIGS trend towards (or are at) record lows, and despite all the liquidity provision of the two LTROs, credit extension to the real economy dropped once again., Wall Street's Knee Jerk Responses To Hint Of More QE Durden 3-7-12 , Stocks, Precious Metals Spike On Report Fed Considering "Sterilized" QE Durden 3-7-12 , Goldman Is "Bearish By A Thousand Cuts" Durden 3-7-12 , As US Contemplates Releasing Crude From The Strategic Reserve, China Resumes Building Emergency Inventory Durden 3-7-12 , Defense Secretary Panetta Testifies On Situation In Syria, Honorable Warmonger #1 John McCain Presiding Durden 3-7-12 , Home prices at levels of 10 years ago: CoreLogic Mar 7th, 2012 (HousingWire)..PG View: The negative wealth effect associated with a decade of lost appreciation in home values does not bode well for consumption and the broader economy. , US consumer credit rose to $17.78 bln in Jan, well above market expectations of $10.0 bln, vs negative revised $16.3 bln in Dec. Mar 7th, 2012 by News , Erste Group’s Complete 2012 Oil Price Outlook – “Nothing To Spare”, Crude Could Reach $200 Zero Hedge | In 82 pages, Austrian Erste Group has extracted the key aspects and variables for the world oil market. , ‘Blind’ Fed Owns More US Treasuries Than China – Ruining Fixed-Income Policy Gauge Daily Bell | The ramifications are immense. , USA #1? 40 Embarrassing Things That America Is The Best In The World At http://albertpeia.com/40badthingsusabest.htm , They Love Death http://albertpeia.com/theylovedeath.htm