Freddie Mac Sues Dozen Banks Including JPMorgan for Libor Losses

March 28, 2013 By 28 Comments

Nationalized Freddie Mac is reportedly suing 12 of its its bankster masters including JP Morgan, BOA, RBS, and Citi among others over $3 billion in losses tied to manipulation of LIBOR rates from 2007-2010.

The Freddie Mac suit appears to confirm what we suspected in 2012 that JP Morgan and Bank of America were simply fabricating their borrowing rates.  Why then, we might ask, has neither Bank of America nor JP Morgan Chase been charged by regulators, when banks with much less blatantly false LIBOR rates have been fined over half a billion dollars??? [Read more...]

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Jim Grant: Cyprus Fired A Warning Shot Across The Globe- Your Money is Not Really Yours if its Needed by the State!

March 27, 2013 By 24 Comments

20121003_grant_0Jim Grant was back on CNBC comparing the ticking shot-clock in a March Madness game to the artificially low interest rates via manipulation by the Federal Reserve, allowing the Fed to stall the game without any real recovery.

Grant also discusses his belief that the problems in Cyprus cannot be contained, and stresses the point that Your money in the Western banking system is not really yours if it is needed by the state!
Grant goes on to state that This is the greatest and most perilous experiment in the history of paper money! and  This will end in immense destruction of wealth!

Full interview is below: [Read more...]

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Jim Grant: The Monetary Revolution is Devouring It’s Children!

February 19, 2013 By 17 Comments

imagesThe biggest critic of the Fed this side of Ron Paul was on CNBC today discussing global Central Bank currency devaluation.

Grant states that Western Central bankers are attempting to out print the Bernank himself:
Central Banks the world over are going from ease to hyper-ease, and people we thought were extremely radical in their monetary predilections like Bernanke are about to be out-flanked by others still more radical!  So the monetary revolution is devouring it’s children!

Grant states that the Fed is at war on the price mechanism:  The Fed will not acknowledge that it is suppressing prices, that what it is doing is a species of price controls.  Interest rates are prices, and the Fed is manipulating them at the level, & they’re manipulating them on the yield curve!

Regarding the future of QE, Grant states that: The Fed’s hand will be forced by circumstances.  The Fed seems to think that it is in control of events, when in fact events will be in control of the Fed.

 Jim Grant’s full MUST WATCH interview is below: [Read more...]

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Jim Grant with Lauren Lyster: Fed’s Price Controls of Interest Rates Will Fail with Fireworks!

February 4, 2013 By 8 Comments

fireworksThe lovely Lauren Lyster, formerly of Capital Account and now the new host of Yahoo’s Daily Ticker, interviewed SD’s favorite Fed-basher Jim Grant regarding the Fed’s latest FOMC statement.

Grant stated that if creating credit was able to successfully reactivate business activity the world would have been richer many generations ago, that the Fed’s actions are counter-productive, that QE funds injected into the economy is money in search of mischief, and that Bernanke’s manipulation of interest rates will fail spectacular with major fireworks as the price of interest rates find their own free market valuation.

As always, Jim Grant’s interview is a MUST WATCH!! [Read more...]

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