While the officially admitted manipulation and suppression of gold prices by Western central banks has been documented extensively, world renowned economist and money expert Jim Rickards argued last week that the real purpose of it was to benefit the Communist Party regime ruling mainland China. As China becomes a global superpower in an increasingly globalized world, the dictatorship in Beijing needs gold reserves to match its growing economic clout, explained Rickards, editor of Strategic Intelligence and author of two books focusing on currency. Eventually, all of that gold — being scooped up by the Chinese autocracy at artificially low rates — will give Beijing a much bigger voice at the table as the new world monetary order it keeps demanding slowly emerges from the ruins of the old.
To comply with unconstitutional pseudo-treaties negotiated by the Obama administration without the consent of Congress or any semblance of constitutional authority, the IRS announced that it will be sharing private financial information on U.S. bank account holders with foreign powers. No warrant is needed for foreign governments or autocracies to peruse the information at will, and possibly even criminals. The embattled federal tax agency announced the controversial move in a press release last week. But the latest data-sharing scheme, while troublesome to critics and lawmakers, is merely one important part of a much broader global taxation regime now being quietly imposed on humanity by the White House and its radical allies around the world. Obama’s lawless “Foreign Account Tax Compliance Act” (FATCA) is the model for it all.
According to a study just published by Wealth-X and National Financial Partners, $16 trillion of wealth belonging to 211,275 “ultra-high net worth” individuals will be passed on to the next generation over the next 30 years.
That popping sound in Shanghai isn't champagne; it's economic bubbles in securities, real estate, art, and more.
U.S.businesses are failing at a faster rate than new ones are being created, suggesting that genuine economic recovery may still be far off.