Venezuela exports $456 mln in gold to Switzerland amid cash crisis | Reuters

A bankrupt Venezuela is selling the family silver (gold) to stay afloat. It’s State Oil company PDVSA is virtually insolvent and citizens scramble to buy essential food items. Perhaps they should try austerity like Greece? Oh, and the same fete awaits soon to Brazil Venezuela exported about 443 million Swiss francs ($456 million) worth of…

Janet Yellen: Monetary Arsonist——–Armed, Dangerous And Lost | David Stockman’s Contra Corner

The reason I like David Stockman is that he is intelligent and calls it like it is. No bull….. Simple Janet should have the decency to resign. The Fed’s craven decision last week to punt on interest rate normalization is not merely a reminder that she is clueless and gutless; we alread… Source: Janet Yellen: Monetary Arsonist——–Armed, Dangerous And Lost…

Saudi Arabia seeks $6-8 billion bank loan to shore up state coffers | Reuters

Jim Rickards writes: “Saudi Arabia may take in massive revenues from oil sales, but it has massive expenses to match. Over 50% of the native Arabs in the kingdom have low-productivity government jobs. Saudi Arabia provides massive subsidies for water, gasoline, food and other staples. Defense spending has been ramping up due to threats from…