20 Cities That May Face Bankruptcy After Detroit

City Of Compton, California Considers BankruptcyGenerated from a Newsmax post:

Think Motown is the only major U.S. city in a boatload of financial trouble? Think again. By Stephen Moore

Detroit’s bankruptcy filing sent shivers down the spine of municipal bondholders, government employees, and big-city urban residents all over the country. That’s because many of the 61 largest U.S. cities are plagued with the same kinds of retirement legacy costs that sent Detroit into Chapter 9 bankruptcy this summer.  Continue reading

Theft is Legal for Big Banks – and Your Money Will Never Be Safe

The new rules for keeping too-big-to-fail alive: use creditor funds, including uninsured deposits, to recapitalize failing banks.

falling_dollar-410x350April 29, 2013 
 | “[W]ith Cyprus . . . the game itself changed. By raiding the depositors’ accounts, a major central bank has gone where they would not previously have dared. The Rubicon has been crossed.”

—Eric Sprott, Shree Kargutkar, “ Caveat Depositor

The crossing of the Rubicon into the confiscation of depositor funds was not a one-off emergency measure limited to Cyprus.  Similar “bail-in” policies are now appearing in multiple countries.  (See  Continue reading