by Steve St. Angelo, SRSRocco Report:
Few Americans realize that the U.S. economy is being propped up by the Shale Oil Industry. However, the shale oil industry is nothing more than a Ponzi Scheme, so when it collapses, it will take down the U.S. economy with it. Unfortunately, the reason few Americans understand how lousy the economics are in producing shale oil and gas is due to the misinformation and propaganda being put out by the industry and energy analysts.
I am quite surprised how bank analysts and brokerage firms can continue to fund the shale oil and gas or advise clients to purchase stock when the industry is behaving just like the Bernie Madoff Ponzi Scheme. The only big difference is that the U.S. Shale Industry is a Ponzi at least four times greater than Madoff’s $65 billion fiasco.
I’ve been involved in bitcoin since 2011 when it was just $3. Many of my friends were in earlier in 2010. At the time, it actually felt like I was late to the party.
Only about half of retail is under attack from e-commerce, but that half is getting crushed.
Political prisoners being held in Caracas’ Helicoide prison – once destined to be the capital’s largest shopping mall, but now home to over 50 political dissidents – began protesting against the regime and demanding their freedom Tuesday night, prompting a violent response from Venezuela’s secret police (Sebin).
Many of you may remember the great debate between then Congressman, Dr. Ron Paul and then Federal Reserve Chairman, Ben Bernanke, when Dr. Paul ask Mr. Bernanke if gold was money. The look on Bernanke’s face is absolutely priceless.
Last week, the financial services giant Northwestern Mutual released new data showing that 1 in 3 Americans has less than $5,000 in retirement savings.
Editor’s Note: Financial repression is a devious tactic, and at some point, every heavily indebted government uses it. It’s inevitable. And no entity on the planet is more indebted than the US government.
There’s a new ‘Forex market’ in Iran, and it shows something very interesting about what people do in a fiat currency crisis. Here’s more…