October 4, 2013
US government shutdown: banks stockpiling cash
US government shutdown: banks stockpiling cash
America’s biggest banks are stockpiling extra cash in their ATMs, amid fears that the government shutdown and the threat of a US default will induce a sudden panic among their customers.
America’s biggest banks are stockpiling extra cash in their ATMs, amid fears that the government shutdown and the threat of a US default will induce a sudden panic among their customers.
Jim Rogers: An ‘even worse catastrophe’ is coming
For Rogers, the author of “Street Smarts: Adventures on the Road and in the Markets,” it is only a matter of time until the U.S. stock market runs into devastating problems due to the Fed’s quantitative easing program and the prevalence of similar stimulative programs around the world. “This is the first time in recorded history that we have every major central bank in the world printing money, so the world is floating on an artificial sea of liquidity. Well, the artificial sea is going to disappear someday, and when it does, the catastrophe will be even worse.
For Rogers, the author of “Street Smarts: Adventures on the Road and in the Markets,” it is only a matter of time until the U.S. stock market runs into devastating problems due to the Fed’s quantitative easing program and the prevalence of similar stimulative programs around the world. “This is the first time in recorded history that we have every major central bank in the world printing money, so the world is floating on an artificial sea of liquidity. Well, the artificial sea is going to disappear someday, and when it does, the catastrophe will be even worse.