Dan Mangru on What It Means to Be Free – The Mangru Moment – The Mangru Report on Fox Business February 7, 2011Posted by Admin in Interviews.
Tags: dan mangru, economic, economy, financial, Fox Business, freedom, government, liberty, mangru report, news, peter schiff, rights, steve forbes, talk, tv
At the conclusion of The Mangru Report’s coverage of Freedom Fest, Dan Mangru sits down for an introspective look on what it means to be free and how Americans should be exercising the right that so many gave their lives for.
Steve Forbes FreedomFest Interview:
The One-Sided Compromise – Guest Commentary By John Browne October 29, 2010Posted by Admin in Market Commentary.
Tags: Capital, china, currency, dan mangru, Dollar, economy, Euro-Pacific, g20, geithner, global, john browne, mangru report, reserve, secretary, south korea, treasury, United States, yuan
The One-Sided Compromise
By: John Browne
Thursday, October 28, 2010
Last weekend, the G-20 finance ministers met in South Korea to find areas of agreement in preparation for the main G-20 gathering in November. The Chinese rebuffed renewed American pleas for them to revalue their yuan. They rejected Secretary Geithner’s suggestion of a four percent cap on current account surpluses. However, in return for accepting America’s continued dollar debasement, the Chinese did agree to “look into” a revaluation of the yuan and the management of trade surpluses. They also agreed to an international self-policing regime to curb currency manipulation. This ‘one-sided’ compromise was hailed in the Western media as a triumph for Mr. Geithner. The US stock markets and dollar rallied. All looked good for the election season in November.
Unfortunately, compromises are never one-sided; they are only construed as such. Though the reporting failed to emphasize it, Mr. Geithner actually agreed to a massive shift of monetary power in exchange for China’s empty concessions. The shareholdings and board composition of the huge and powerful International Monetary Fund (IMF) have now been shifted. China will now become the third largest shareholder of the IMF and the developing economies will get a six percent larger voting share. Two European states will lose their seats on the IMF’s board in favor of developing countries.
Meanwhile, China, supported by Russia, India, and even Brazil, continued to lobby hard for the US dollar’s privileged role as the international reserve currency to be replaced by a wide basket of currencies and gold. To this end, the IMF has recently been given additional “emergency” lending facilities. These could be used in a coming sovereign default crisis to ‘bail out’ Western countries, at which point they would be unable to resist global economic governance under the guise of the reformed IMF.
In short, Secretary Geithner’s “victory” at the G-20 was one only King Pyrrhus could love.
But the blame cannot be laid entirely with Mr. Geithner. The fact that he left the meeting at least saving a bit of face for his delegation is a monumental achievement, considering the dismal condition of the US economy.
Fed Chairman Bernanke appears desperate to flood the United States with another round of quantitative easing (QE-2). In a $13 trillion economy, a release of anything less than $1 trillion would not be seen as effective. Remember, the Fed already injected over $1 trillion after the credit crunch – and we are still in recession. How much will it take to right this listing ship?
When Geithner pledged to China a “gradual” debasement of the dollar, it is astonishing that they didn’t laugh him out of the room.
If he were to make good on his pledge and convince Bernanke to cut QE-2 to, say, $500 billion, the US GDP and stock markets would almost certainly begin to contract. This would threaten the banking system with a second crisis borne out of the ashes, or toxic assets, of the first.
For a frame of reference, the US home mortgage market is valued at some $10.6 trillion. Indeed, foreclosures and past-due loans amount already to some 14 percent of the market, or about $1.5 trillion. Of this staggering figure, the loans delinquent or in foreclosure to which the top three banks (Bank of America, Wells Fargo and JP Morgan) are exposed amount to more than $600 billion, an amount roughly equal to the original TARP bailout fund.
At the same time, thanks to falsely low interest rates, the banks’ net interest margins, or the difference between what they earn in loan interest and what they pay to their creditors, are being squeezed severely, while their non-interest earnings are falling, due to lower economic activity and the prohibitions contained in FinReg.
Finally, there is the murky question of how exposed the banks are to the massive derivatives market, a house of cards with a shaky foundation.
As we have described for several years, the US economy is virtually locked into a long arc of decline. There are no politically palatable solutions to this quandary. Until Americans are ready to take their lumps and accept a steep drop in their standard of living, the US government will have no leverage with the creditor nations and no ability to keep its promises. Therefore, we should celebrate when China even gives our Treasury Secretary an audience.
If China does manage to topple the US dollar from its perch as the international reserve currency, our economy will very likely move into free fall as decades of inflation come pouring back into the country. We will be forced to live within our means or face hyperinflation. Losing a few votes at the IMF is a small cost to delay this eventuality, but it also puts us one step closer to it.
John Browne is a Senior Market Strategist at Euro-Pacific Capital. He’s been a member of English Parliament, an advisor to Prime Minister Margaret Thatcher, and currently serves as Lead Panelist for The Mangru Report. You can view all of his commentaries by CLICKING HERE NOW.
Tags: alternative investing, business, Commodities, currencies, dan mangru, david mcalvany, Dollar, finance, Fox, Fox Business, gold, investing, ira, jack reed, john t. reed, management, mangru, mangru report, mcalvany, news, real estate, silver, talk, terry coxon, tv, U.S., van simmons, wealth
Watch extended coverage from Freedom Fest 2010 with Dan Mangru moderating a special panel on Alternative Investing. While so many investors are confused as to what that actually is, for the purposes of this panel alternative investing is any type of investment outside of stocks, bonds, options and mutual funds.
The panel features David McAlvany of McAlvany Wealth Management, Van Simmons of David Hall Rare Coins, Jack T. Reed author of How to Protect Your Life Savings, and Terry Coxon of Passport IRA. They will provide key insights on topics such as gold investing, the currencies most likely to beat the U.S. dollar and why the U.S. dollar might be good to hold in the short run, whether investors should pay down debt as opposed to making new investments, how to buy real estate during hyperinflation, and the importance of liquidity.
Bert Dohmen Freedom Fest 2010 Interview – The Mangru Report on Fox Business September 22, 2010Posted by Admin in Interviews.
Tags: bert dohmen, china, crash, crisis, dan mangru, debt, dohmen, dohmen capital, double dip, finance, Fox, Fox Business, george soros, investing, mangru report, market, news, real estate, recession, recovery, smarte trader, stocks, talk, technology, treasuries, tv, U.S., V-shaped, wellington letter
After a long wait, it’s finally here online, Bert Dohmen’s exclusive interview with Dan Mangru from Freedom Fest 2010 in Las Vegas. In this interview, Dohmen discusses the prospects of a V-shaped recovery or whether the United States is headed for what George Soros calls “Act II of the Crisis”. He also shares his views on the financial reform bill, a Chinese bubble, and whether the U.S. can save China if it goes under. Bert Dohmen is the founder of the Dohmen Capital Research Institute and the author of the award winning Wellington Letter.
Don King 9/11 Interview with Dan Mangru – The Mangru Report on Fox Business September 14, 2010Posted by Admin in Dan Mangru, Interviews.
Tags: 11, 9/11, bernard hopkins, boxing, business, city, dan mangru, department, don king, evander holyfield, FDNY, felix trinidad, finance, fire, fire truck, Fox, Fox Business, freedom, george foreman, israel, mangru, mangru report, middle east, mike tyson, mma, muhammad ali, New york, nyc, NYPD, only in america, palestine, peace, police, september, shimon peres, talk, tv, Twin Towers, U.S.
While you may know him as the man behind boxing biggest champions such as Muhammad Ali, Mike Tyson, and Evander Holyfield, Don King is more than just boxing. For instance, Don King is an Ambassador of the State of Israel appointed by Shimon Peres. That’s just one of the things that you’ll find out in this video.
In this exclusive interview with Dan Mangru, Boxing Promoter Don King tells how 9/11 has personally impacted him, and how he helped New York by organizing the first event in New York after September 11. King shares how he was moved to donate a new fire truck to New York City and the Fire Department (FDNY), and why he and Felix “Tito” Trinidad went to feed the firefighters, policiemen, and volunteers working in Ground Zero.
Don King discusses with Mangru why America is the greatest nation of the world, why we should not take freedom for granted, why it’s important to understand other cultures, lessons to be learned from 9/11, and how we can have peace in the Middle East.
Former New York Governor George Pataki 9/11 Interview with Dan Mangru – The Mangru Report – Episode 17 September 13, 2010Posted by Admin in Dan Mangru, Interviews.
Tags: 11, 9/11, al-qaeda, America, attacks, business, dan mangru, finance, Fox, Fox Business, freedom tower, george, government, governor, ground zero, lower manhattan, mangru report, mosque, New york, ny, osama bin laden, pataki, september, talk, terrorism, tv, Twin Towers, world trade center, wtc
Watch Dan Mangru interview former New York Governor George Pataki about the relevancy of 9/11 today discussing the state of islamic terrorism including the Times Square and Christmas bombers. Pataki then recounts where he was when he first learned of the attacks and how he responded to them. In addition, Pataki states his position on the Ground Zero mosque and why America should be careful not be anti-islam. Also he shares what has happened in New York since 9/11, why Ground Zero still has not been built yet, the current status of the 1776 ft. tall Freedom Tower, and why Americans should be proud.
Al Zucaro 9/11 Interview with Dan Mangru – The Mangru Report on Fox Business September 12, 2010Posted by Admin in Interviews.
Tags: Al Zucaro, attack, bank, business, Chairman, chase manhattan, dan mangru, david, finance, Fox, Fox Business, freedom tower, global, governor, guy tozzoli, mangru report, nelson rockefeller, New york, ny, Palm Beach, rockefeller, strong, talk, terrorist, trade, tv, Twin Towers, world trade center, wtc
Watch Dan Mangru speak with Al Zucaro of The World Trade Center Association and World Trade Center Palm Beach. Zucaro will discuss the business vision behind the Twin Towers as originally designed by former New York Governor David Rockefeller & Chase Manhattan Bank Chairman David Rockefeller, and how it became the center of a global trade organization under the leadership of Guy Tozzoli and revitalized New York City. Zucaro also tells us the status of doing business abroad and how the World Trade Center Association has still kept global trade strong with now over 300 World Trade Centers across the globe. In addition, Zucaro addresses the safety of the Freedom Tower, and plans to rebuild New York City.
Fmr NY Gov. George Pataki, Don King, Lt. Col. Allen West, and Al Zucaro to Headline Today’s Edition of The Mangru Report September 11, 2010Posted by Admin in Interviews, News.
Tags: 9/11, afghanistan, Al Zucaro, allen west, army, business, commemorative episode, dan mangru, don king, finance, Fox, Fox Business, freedom tower, george, giuliani, governor, ground zero mosque, honor, iraq, lt. col. Allen West. LTC Allen West, mangru report, military, New york, news, pataki, Pennsylvania, Pentagon, pray, talk, tribute, troops, tv, united 93, United States, War, world trade
As part of our 9/11 commemorative episode of The Mangru Report we will offer you very different perspectives on the events and how they’ve shaped our nation and each other.
First, we’ll be joined by former New York Governor George Pataki, who will recount the events of that tragic morning. He will discuss why 9/11 is still relevant today, whether we should have a “Ground Zero Mosque”, and why it has taken so long to rebuild on Ground Zero.
Then, we’ll sit down with legendary boxing promoter and American Patriot, Don King. King will share why 9/11 hits us all personally, how he helped New York City move forward after 9/11, why it’s important to understand other cultures, lessons to be learned from 9/11, and why we must never take freedom for granted.
Next, we’ll be joined by Lt. Col. (Ret.) Allen West who served in Iraq and was an informal military advisor to the Afghanistan government. West will explain why we can’t fight a “War on Terror”, why it’s necessary to properly identify our cause and our enemy, and why this war is ultimately one that we can win.
Finally, we’ll speak with Al Zucaro of The World Trade Center Association and World Trade Center Palm Beach. Zucaro will discuss the business vision behind the Twin Towers as a global trade hub, how the World Trade Center Association has still kept global trade strong with now over 300 World Trade Centers across the globe, the safety of the Freedom Tower, and plans to rebuild New York City.
Today, as we mourn those we lost, pray with those that were left behind, and pay thanks to those that work to keep us all safe, join us today at 5:30 p.m. on Fox Business (Dish 206, DirecTV 359, AT&T 211, Verizon 117) for what we hope to you will consider an honest and introspective look at the event that has changed our lives forever.
Tune in Saturday and Sunday for a Special 9/11 Commemorative Edition of The Mangru Report September 10, 2010Posted by Admin in Dan Mangru, News.
Tags: 9/11, afghanistan, commemorative, D.C., dan mangru, episode, finance, firefighters, freedom tower, ground zero, iraq, mangru report, mosque, New york, Pennsylvania, Pentagon, police, september, september 11, special, talk, tribute, troops, tv, Twin Towers, volunteers
There are few moments that define our nation. September 11 is one of them. It was a moment where the fiber of the American spirit was put to the test. In the face of the most heinous attack in American history, Americans did not cower in the face of danger, we rose to the challenge. While we lost so many that day, fathers and mothers, brothers and sisters, heroes and patriots, we would have lost more had it not been for the brave men and women who risked their lives to save others.
While we at The Mangru Report count ourselves privileged to bring to you what’s going on in America every week, it is truly an honor to pay tribute to all of those who were involved on that fateful day.
On our special 9/11 episode we’ll recount the events of that September morning, how America responded, and the effects that those events are having on us today. We’ll discuss rebuilding Ground Zero, winning the wars in Afghanistan & Iraq, and how America came together after 9/11.
We hope that you find this episode of The Mangru Report honest, positive, uplifting, and introspective.
Personally, paying tribute to all of the victims, firefighters, policemen, volunteers, and troops that protect and defend us has been the most important job I’ve faced as a journalist.
To do this was an honor and a privilege.
God Bless America,