If you have not yet seen or all of these interviews, I cannot recommend strongly enough that you take a moment to watch.  These 3 guys are some of the smartest and most thoughtful I have ever had the pleasure of meeting and they all see a very similar story out there.  One piece of information in any one of these videos could literally make a huge difference in your own personal financial life!

Doug Casey

Harry S. Dent, Jr.

Robert Prechter

{ 0 comments }

Why its TOO LATE for Glass-Steagall

by admin on July 23, 2012

The Glass-Steagall Act was implemented in in 1933 as a direct result of the stock market crash of 1929. To keep it really simple, the Act is designed to make sure the fox is not guarding the hen house. The hens are “we the people” and the foxes are the banks of all flavors.

The Act basically says that the foxes are allowed to pick off the hens, but only in their designated coups.  So commercial banks need to stick with taking deposits and lending to businesses while investment banks can help companies raise capital and go public, but stay away from savings bank activities which should focus on savings accounts and home loans, etc.

The reason this made sense was that if you let investment banks get into the business of personal mortgages, they were sure to come up with a way to package, slice and dice these mortgages into an “investment banking” product and “SELL” them on the street, with lots of bad judgement and outright corruption in between. I mean that is what they do, so keep them away from mom and pop loans.

In 1999, the power was so consolidated and the profits too rich to ignore and the banks lobbied congress to repeal Glass Steagall.  It took only 2 years to have the DOT.COM crisis and only another 7 years to really hit the fan with the Sub-Prime mortgage crisis.

There is virtually no argument (except by the banks) that the repeal of Glass-Steagall was a direct cause of the sub-prime crisis and the result is that we now have even bigger banks that are Too Bigger to Fail then before.

Could reinstating the Glass-Steagall Act help our current crisis?  My answer is yes, but only if combined with a true commitment to disempower the banking cartels, dismantle the Too Big to Fail Banks, dismantle the Fed and take back the power ceded to big finance.

Do I think we have the political and social commitment to do this?  NO.

Unfortunately, I believe that my guests on this show are more likely to be accurate on their assessment of the outcome of the current crisis.

Sorry for the bad news, but knowing this now can allow you to plan in such a way that you can hedge and be prepared instead of just hoping and praying that the government is going to bail us out on this one.  There is such as thing as too little too late.  The time to wake up is now.

In Service,

Douglass S. Lodmell, J.D., LL.M.

 

{ 0 comments }

Doug Casey on The Mind of Money

May 9, 2012

In this edition, Host of The Mind of Money, Douglass Lodmell interviews well known author, economist and speculator, Doug Casey (www.caseyresearch.com). Doug has a wealth of information and thoughts on everything from the economy, international living, investing in gold and the future of of world. If you have ever once thought about having a second […]

Read the full article →

Harry S. Dent, Jr. on the Mind of Money

February 23, 2012

Please Sign Up to Have Future Interviews Delivered Directly to Your Inbox *We Respect Your Privacy* My guest today on The Mind of Money is Harry Dent. Mr. Dent is The Founder and CEO of HS Dent, an economic research and forecasting firm that utilizes the Dent Method, a forecasting technique based on demographic trends. […]

Read the full article →

Interview with Jeffrey Verdon, J.D. (Asset Protection Attorney)

January 31, 2012

Once again I am fortunate to have one of the countries most well-respected Asset Protection and Estate Planning Attorneys, Jeffrey Verdon on the show. Jeffrey shares his view of the current global economic environment as he sees it through the eyes of his clients. He also shares a revolutionary concept which allows you to Have […]

Read the full article →

Interview with Benjamin Lodmell

January 17, 2012

Douglass Lodmell revisits his very first guest, Benjamin Lodmell. This interview highlights the massive change which has occurred over the past 3 years and is a very interesting look inside the financial system. Highly Recommended. 1:07 What Happened to the Global Recovery? 8:04 Swiss Banking 11:50 MF Global Bankruptcy 13:46 Retail Model of Investing vs. […]

Read the full article →

Guest Post: Our Financial World from an Elliott Wave perspective

January 12, 2012

Douglass Lodmell’s Interview with Robert Prechter was extremely insightful, and I hope it proves useful for all of our readers. It is quite evident we live in precarious times financially and economically, and this interview provides great advice for keeping your money safe during an economic depression. Many people understand we are in a developing […]

Read the full article →

2012 Predictions! Is the Financial World Ending?

January 3, 2012

2012 is the end of the Mayan Calendar. Some have predicted the end of the world. My question to my guest, Peter Campbell, today was. “Is this the end of the Financial World as we know it?” Peter Campbell (www.m3financialsense.blogspot.com) has been on the Mind of Money show before, and today we had a chance […]

Read the full article →

Interview with Roy Oppenheim (Foreclosure Expert)

December 17, 2011

  Mind of Money host Douglass Lodmell, J.D. visits with former guest and real estate foreclosure expert attorney Roy Oppenheim from the South Florida Law Blog. This conversations goes well beyond just what is happening in Real Estate as they discuss the global economic crisis that is fast creeping into the mainstream consciousness. What can […]

Read the full article →

Interview with Robert Prechter

October 25, 2011

Mind of Money host, Douglass Lodmell interviews Elliott Wave Theorist, Robert Prechter. In this extended interview Bob and Doug discuss the great Bull Market that began in 1978, which Bob predicted in his first book “The Elliott Wave Principal”. They also discuss the great Bear Market which is now upon us and what to expect […]

Read the full article →