You are here
Financial system 'booby-trapped' with leverage, Stockman warns
1:40p ET Friday, August 8, 2014
Dear Friend of GATA and Gold:
Former U.S. budget director David Stockman tells King World News today that he doubts that central banks can keep supporting markets much longer, now that "the whole global financial system is booby-trapped with both visible and hidden leverage."
But really, why not? Stockman himself notes that the stock market has risen for 62 months, though living standards have declined worldwide. What's to keep central banks from buying everything, making equity prices look spectacular even while leaving everyone else with nothing?
In any case, Stockman's interview is excerpted at the KWN blog here:
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2014/8/8_Sto...
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
Free Storage with BullionStar in Singapore Until 2016
BullionStar is a Singapore-registered company with a one-stop bullion shop, showroom, and vault at 45 New Bridge Road in Singapore.
BullionStar's solution for storing bullion in Singapore is called My Vault Storage. With My Vault Storage you can store bullion in BullionStar's bullion vault, which is integrated with BullionStar's shop and showroom, making it a convenient one-stop-shop for precious metals in Singapore.
Customers can buy, store, sell, or request physical withdrawal of their bullion through My Vault Storage® online around the clock. Storage is FREE until 2016 and will have the most competitive rates in the industry thereafter.
For more information, please visit Bullion Star here:
Join GATA here:
Casey Research 2014 Summit
Hill Country Resort and Spa
San Antonio, Texas
Friday-Sunday, September 19-21, 2014
http://www.caseyresearch.com/summit/2014-fall
New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
New Orleans, Louisiana
Wednesday-Saturday, October 22-25, 2014
https://jeffersoncompanies.com/landing/noic2014?IDPromotion=614011014520...
* * *
Support GATA by purchasing DVDs of our London conference in August 2011 or our Dawson City conference in August 2006:
http://www.goldrush21.com/order.html
Or by purchasing a colorful GATA T-shirt:
Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:
http://gata.org/node/wallstreetjournal
Help keep GATA going
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
To contribute to GATA, please visit:
