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Kenneth Schortgen Jr.

Bail-in postponed: Portuguese bank to have government bail out.

With the test case of depositor bail-ins already achieved in the nation of Cyprus back in 2013, the rest of Europe has held their breath for the same shoe to drop when the next major bank failure comes to the Eurozone.  However, in what appears to be a stay of execution for the public and their savings, Portugal's second largest bank, Banco Espirito Santo, will instead have a more conventional bailout and b ...

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Russian central bank now in talks with India for bypassing dollar in settelments

Earlier this year, Russia and China solidified their partnership in pursuing a policy of trade outside the dollar when they signed a $400 billion natural gas and oil deal to be paid for in both Rubles and Yuan.  Now, on July 30, the Russian Central Bank announced they are beginning work with the third leg (India) of the BRICS coalition to form a plan to allow for trade and banking settlements in their own r ...

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The Bear strikes back: Russia to impose massive new trade restrictions against U.S. businesses

When the United States began its punitive use of economic sanctions against Russia and Russian oligarchs a few months ago, Vladimir Putin shrugged them off as minor nuisances and little more than political posturing.  But as President Obama has continuously increased sanctions against the Eurasian superpower, and forced Europe into imposing some of their own despite their reticence, Russia is now ready to a ...

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Israeli media shows transcript of Obama commanding Israel to surrender to peace

On July 29, a local Israeli television station (Channel 1), received a transcript of a phone conversation between President Barack Obama and Prime Minister Benjamin Netanyahu where the U.S. Commander in Chief all but ordered Israel to surrender its position in the Gaza conflict, and demand the sovereign nation accede to the will of Obama and Secretary of State John Kerry. And the most ironic thing about thi ...

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Class action lawsuit filed against banks involved in silver price manipulation

On July 25, a futures investor filed a class action lawsuit against Deutsche Bank and HSBC for their involvement in price rigging and fixing in the silver futures market.  J. Scott Nicholson, who's alleges price fixing has caused himself and multitudes of other legitimate future trades to lose millions of dollars from protected market manipulation, is seeking redress for years of price rigging in the metals ...

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FDIC closes bank in IL bringing total number of failed banks in 2014 to 14

GreenChoicel Bank, fsb,, located in Chicago, IL, was closed down by the FDIC on Friday, July 25.  This bank failure is the second for the month of July and brings the total amount of bank closures in 2014 to 14. 7/25/2014 *** IL *** Chicago *** GreenChoice Bank fsb. *** $14.2 million dollar estimated FDIC DIF cost. The total DIF for failed banks this week is $14.2 million. If you were banking at GreenChoice ...

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Ukraine government collapses as PM resigns and ruling coalition breaks

An interesting and inevitable conclusion came to pass on July 24 when the U.S. installed Kiev government in Ukraine collapsed today as Prime Minister Arseniy Yatsenyuk resigned and the two ruling coalitions broke apart.  This sudden fall of government is coinciding with an economic collapse that has led Kiev to be unable to pay soldiers fighting against Russian separatists in the East, and a budget that was ...

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Economic adviser to Putin declares WWIII has begun and U.S. nazi’s must be stopped

Back in the middle of June, Sergei Glazyev, the economic adviser to Vladimir Putin, appeared on a national television broadcast from Russia and pulled no punches in stating that the United States had overstepped the bounds of neutrality over Ukraine, and had declared war upon Russia by intervening in a satellite state of the Russian Federation, and border ally through commerce, language, and culture. In fac ...

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President Obama to call for economic sanctions on Russia…. again

It seems to be a common theme with President Obama and the rest of his administration to use media propaganda and increased rounds of economic sanctions as retribution, that in the end do little to address the root causes that are furthering the conflict between both sides in the Ukrainian civil war.  One day after the White House admitted publicly that Russia had nothing at all to do with the downing of Ma ...

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Banker Deaths: Goldman Sachs Executive dies of mysterious accident

On July 21, a Managing Director for Goldman Sachs became the 16th known member of the financial industry to die of suicide or another mysterious causes since late last year.  Nicholas Valtz, a 39 year old executive with Goldman Sachs, died of an apparent 'kite boarding' accident and was found floating on the water still attached to his kite board. Nicholas Valtz, a managing director in cross-asset sales at  ...

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Plague Spreads in Colorado as Three More Patients Found

Earlier this week, we verified the first case of pneumonic plague to hit America's shores in 100 years.  Now, just four days later, three new cases, also from the state of Colorado, have suddenly appeared and are raising fears that an epidemic could very well be on our horizon for citizens within the U.S.. Three more plague cases were found in Colorado, a week after the first infection of the deadliest form ...

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BRICS economic alliance creates plan for new political alliance

Global geo-politics are controlled today by a combination of the American empire, and a conglomeration of nation states that make up the European Union.  For more than 400 years, these Western powers have been instrumental in determining the destiny's of 90% of the world, whether through colonialism, militarism, or economic dominion and trade. But as the world has grown smaller thanks to technology and the ...

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