America’s Number One Enemy: The Federal Reserve

The Birth of Legal Counterfeiting The FED is a central bank. Central banks are supposed to implement a country’s fiscal policies. They monitor commercial banks to ensure that they maintain sufficient assets, like cash, so as to remain solvent and stable. Central banks also do business, such as currency exchanges and gold transactions, with other central banks. In theory, a central bank should be good for a country, and they might be if it wasn’t for the fact that they are not owned or controlled by the government of the country they are serving. Private central banks, including our FED, operate not in the interest of the public good but for profit. There have been three central banks in our nation’s history. The first two, while deceptive and fraudulent, pale in comparison to the scope and size of the fraud being perpetrated by our current FED. What they all […] Read More

Monied Interests Run America

Powerful Wall Street headquartered monied interests run America – in league with corrupt federal, state and local officials, waging financial war for profit. Reckless Fed-led central bank policy bears full responsibility for today’s market turbulence. Ordinary people are hurt most – fleeced of income, savings, benefits and futures. Most youths in America today haven’t the same opportunities as inner city kids like this writer growing up. When good public schools prepared students for college. When it was affordable. When many public colleges and universities were tuition-free. When student debt entrapment didn’t exist. When America was the world’s leading industrial economy. When full-time high-pay/good benefits jobs were plentiful. When each generation was financially better off than earlier ones. When wages kept up with inflation. When America’s middle class thrived. When corporations and high-income earners paid their fair share in taxes. Before class war pitted private wealth against popular interests more […] Read More

Signs Of Financial Turmoil Are Brewing In Europe, China And The United States

Submitted by Michael Snyder via The Economic Collapse blog, As we move toward the second half of 2015, signs of financial turmoil are appearing all over the globe.  In Greece, a full blown bank run is happening right now.  Approximately 2 billion euros were pulled out of Greek banks in just the past three days, Barclays says that capital controls are “imminent” unless a debt deal is struck, and there are reports that preparations are being made for a “bank holiday” in Greece.  Meanwhile, Chinese stocks are absolutely crashing.  The Shanghai Composite Index was down more than 13 percent this week alone.  That was the largest one week decline since the collapse of Lehman Brothers.  In the U.S., stocks aren’t crashing yet, but we just witnessed one of the largest one week outflows of capital from the bond markets that we have ever witnessed.  Slowly but surely, we are […] Read More

Madness Coming To Gold Market: “There Are Thirty to Fifty Owners For Each Ounce of Gold That’s Out There”

Though the price of gold has seen a significant drop over the last two years from it’s all time highs of about $1900 per ounce, many experts and analysts believe that western central banks and their colleagues at major financial institutions have been manipulating the price. The rampant manipulation is believed to stem, in part, from the formerly Rothschild owned London Gold Fix, an organization made up of five large banks that make a daily determination of what the price of gold should be. It is this unilateral control by western banks that recently prompted the Chinese to create their own Shanghai Gold Exchange. What separates the two is that the Chinese will be using their currency, the Yuan, as the reserve rather than the U.S. Dollar. Moreover, unlike their European counterparts, the Chinese will be trading in actual physical dollars. The Daily Coin explains: The product is gold. When gold is bought […] Read More

Eight Points on the Investment Climate and the Dollar

1.  The swing in the pendulum of expectations back toward a mid-year Fed rate hike is one of the key developments that will shape the investment climate.  The data in the week ahead, including the broader measures of the labor market, like the Fed’s new index (Labor Market Activity Index) and JOLTS (Job Opening and Labor Turnover Survey), and core retail sales will strengthen the view.   The rise in US interest rates will lend the dollar support and allow the appreciating trend to continue after a consolidating over the last few weeks.   Equity investors need to adjust to the rise in interest rates.  High dividend payers and utilities are vulnerable.  US companies have expanded overseas more by direct investment than exporting.  That means that while they earn revenues in foreign currencies they also incur local costs.  In addition, many producers price and invoice in dollars.  In any […] Read More

The Country That Refuses to Bow Down to Western Bankers

The powers that be are getting nervous as other countries consider following Greece’s lead. Mario Seccareccia, a professor of economics at the University of Ottawa, has been outspoken in his warnings that austerity policies have the potential to smash economies and spread human misery. In his work supported by the Institute for New Economic Thinking and elsewhere, he has challenged deficit hawks and emphasized the need for strong government investment in things like jobs, education, healthcare, and infrastructure if economies are to prosper. In the following interview, he talks about why what happened to Greece was entirely predictable, why the Greeks were right to reject austerity in the recent election, and what challenges the country faces in forging a sustainable path forward with the left-wing Syriza party at the helm. Lynn Parramore: You have long been warning of problems in the Eurozone.  What do the Greek elections mean to […] Read More

“The Fed Is Heading For Another Catastrophe… Central Banking Has Lost Its Way” Stephen Roach Warns

Authored by Stephen Roach, originally posted At MarketWatch via Project Syndicate, America’s Federal Reserve is headed down a familiar — and highly dangerous — path. Steeped in denial of its past mistakes, the Fed is pursuing the same incremental approach that helped set the stage for the financial crisis of 2008-2009. The consequences could be similarly catastrophic. Consider the December meeting of the Federal Open Market Committee, where discussions of raising the benchmark federal funds rate were couched in adjectives, rather than explicit actions. In line with prior forward guidance that the policy rate would be kept near zero for a “considerable” amount of time after the Fed stopped purchasing long-term assets in October, the FOMC declared that it can now afford to be “patient” in waiting for the right conditions to raise the rate. Add to that Fed Chair Janet Yellen’s declaration that at least a couple more […] Read More

It’s Starting: Russians and Chinese Are Ditching the Dollar and Europeans Are Using Renminbi in Their Reserves

At present, US dollar accounts for roughly 61% of the world’s foreign exchange reserves. It’s still a safe bet for most, not because the currency is actually strong, but because so many others are already so reliant on it. Between those with reserves in and pegs to the US dollar, many countries have given their allegiance, and now have a vested interest in the health of the currency. Due to this common interest, a sort of unofficial, involuntary alliance has been formed between them all. Together, they’re all playing along, pretending that everything is fine. If the dollar collapses, they’re all screwed, so they’ve got to get each other’s backs. From the throne of the world’s reserve currency, the Federal Reserve, with the power to print the US dollar, feels dangerously omnipotent. They can get away with just about anything. For now. The central bankers get to print dollars […] Read More

Alarm Bells Ringing: Behind The Smoke And Mirrors Of The European Banking System

Submitted by Erico Matias Tavares of Sinclair & Co. Alarm Bells Ringing – Behind the Smoke and Mirrors of the European Banking System Alarm bells in the European banking system have been ringing for quite a while but nobody seems to be listening. The roaring capital markets are just too loud. But we have been keeping track of a few things. Private sector lending is dropping sharply in the Eurozone. The latest figures have just been released and the picture is not at all encouraging. Total private sector credit by Eurozone monetary financial institutions has accentuated its negative trajectory last June, with lending to households seeing the largest monthly decline since the height of the great financial crisis in late 2008. Uh-oh. Periphery back in play? Very recently the second largest private bank in Portugal was caught in the bankruptcy of the Espirito Santo conglomerate, reporting the largest ever […] Read More

18 Signs That The Global Economic Crisis Is Accelerating As We Enter The Last Half Of 2014

A lot of people that I talk to these days want to know “when things are going to start happening”.  Well, there are certainly some perilous times on the horizon, but all you have to do is open up your eyes and look to see the global economic crisis unfolding.  As you will see below, even central bankers are issuing frightening warnings about “dangerous new asset bubbles” and even the World Bank is declaring that “now is the time to prepare” for the next crisis.  Most Americans tend to only care about what is happening in the United States, but the truth is that serious economic trouble is erupting in South America, all across Europe and in Asian powerhouses such as China and Japan.  And the endless conflicts in the Middle East could erupt into a major regional war at just about any time.  We live in a world […] Read More

No Earthquake: Investors Not Daunted by Rise of Anti-EU Vote

Investors took the electoral success of nationalist and anti-EU parties in the EU Parliament in stride. The early results project these parties will secure around 130 of the 751 seats.  Some partisans are claiming it is a “political earthquake”, but this is not immediately clear. It may be an exercise in hyperbole.  The duopoly of the center-right and center-left will persist and still dominate the EU parliament.  This will likely become clearer when the new EC President and Commission are put together.  The first such discussions will be on May 27.  The anti-EU vote is far from a unitary bloc. They are a disparate collection of national parties. In addition, the voter turn-out of a little more than 43% of the eligible voters raises questions over the validity of drawing strong national implications.  Moreover, it is difficult to tell determine how much of the anti-EU vote was a protest […] Read More

Starting Monday, Billions In ETNs Are No Longer Marginable Collateral

When is marginable collateral not marginable collateral? When it is an ETN, or Exchange Trade Note: the cousin of the Exchange Traded Fund (ETF). The very mutated, and unabashedly evil cousin of the ETF that is. At least such is the view of US brokerage Interactive Brokers (and certainly not of the ECB where as is widely known blocks of feta cheese and olive oil are perfectly acceptable forms of collateral). First, what exactly is an ETN? Here is the IB definition: ETNs are not equity shares but rather a form of unsecured debt whereby the issuing institution promises to pay a return linked to a market index or other benchmark. As ETNs generally do not buy or hold assets like an Exchange Traded Fund (ETF), their returns are realized through holdings of derivative contracts such as options, futures and swaps. While ETNs trade on exchanges in a manner […] Read More

2013: Cyprus is Only The Beginning for Global Banking

Well here we go, what kind of world do we live in? Where banks and corporations(now labeled “piece of crap”) can steal, lie and take advantage of the normal person. Then claim foul, that they don’t have the money/goods that is needed, they made mistakes, we are SORRY:(! Then it decided to save the piece of crap because its too big of a piece of crap, so then they have the government do the same to the same people, and give it back to the piece of crap. WTF? Shares, euro retreat as Cyprus euphoria fades – Reuters http://news.google.com New York Times – Shares, euro retreat as Cyprus euphoria fades Reuters… YORK (Reuters) – Global equity markets and the euro retreated on Monday after a senior euro-zone official said the Cyprus bailout reached earlier could be used to shape other regio …   MF Global And The Cypriot Banking […] Read More