Canadian billionaire businessman Ned Goodman predicts the end of the U.S. Dollar as the world's reserve currency. He predicts the transition out of the U.S. Dollar will become,“...quite ugly.”He delivered the lecture at Cambridge House's Toronto Resource Investment Conference 2013 on Thursday, 12 September 2013.
Ned Goodman is President and Chief Executive Officer of Dundee Corporation, where he acts as a financial advisor and investment banker. He is the President and Chief Investment Officer of Goodman Investment Counsel Inc. His investment experience spans more than 40 years as a securities analyst, portfolio manager and senior executive, and he has an established reputation as one of Canada's most successful investment counselors.
Mr. Goodman is the founder and benefactor of the Goodman Institute of Investment Management, a graduate school for investment management at Concordia University, and serves there as an Adjunct Professor and as a member of the Associates of the Chancellor.
Mr. Goodman has been Chancellor of Brock University in Niagara, Ontario for over four years.
http://www.zerohedge.com/node/479121
The Fed is in the End Game
by Phoenix Capital Research, Zero Hedge, 19 September 2013
The Fed failed to announce a Taper yesterday of any kind.
It is positively outrageous, but it does inform us of many things.
First and foremost, the Fed has made it clear that it cannot be hawkish is any way. We had just two months of hinting at tapering QE from the Fed (Bernanke was back talking up how accommodating he'd be by July).
So for all the talk of taper and shifting to a more hawkish tone, the Fed's actions speak louder than words: the Fed is totally and completely incapable of being hawkish at this time.
Secondly, the Fed knows that the US economy is a total disaster. If tapering even $10-15 billion per month from $85 billion month QE programs would damage the economy, then we're all up you know what creek without a paddle.
Put it this way... here we are, five years after 2008, and the Fed is stating point blank that the economy would absolutely collapse if it spent any less than $85 billion per month. This admission has proven just how long ago we crossed the Rubicon. We're already in the End Game. Period.
Finally, the Fed has proven that it has absolutely no exit strategy. The Fed is going to print money and buy bonds until the entire financial system collapses. Any time stocks fall it will try to rescue the markets. And it is going to do this ad infinitum because it has no clue what else to do.
In plain terms, the Fed has proven beyond even a hint of a doubt that it is simply flying by the seat of its pants, with no clear game plan or eventual outcome in mind. The Fed is simply going to keep doing what it's done for five years until something breaks.
That something will be the entire financial system. We will have a crisis that is substantially worse than 2008. It is coming. In fact it is now coming much sooner than it would have had the Fed announced a taper yesterday.
In the meantime, inflation is soaring. The Fed continues to lie about CPI and inflation but the reality is that the cost of everything is going up.
