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Economic sanctions by U.S. will increase flight away from dollar

A week after Russia and China signed off on the world's largest energy deal in history, more Russian companies are seeing the East as the future of business, and this primarily includes trusting in the Renminbi over as the currency of choice. And in a recent report on the shift away from the U.S. and the reserve currency, Russia is using economic sanctions as justification for the move, and are set to incre ...

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The Obama plan for the student loan bubble

When data and statistics are as manipulated and corrupt, as what comes out of the Executive Branch in U.S. government reports, it is not surprising that both Congress and the White House regularly respond to crises with a reactionary tone, and far past the point where simple solutions would have easily resolved the issue. For over two years, student loans have been the highest and by far largest consumer cr ...

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Vegas cop killers declare, “The revolution has begun”

On June 8, another shooting spree took place in Las Vegas, NV, with two police officers and one civilian being gunned down before law enforcement ended the lives of the two assailants. However, what is most interesting about this violent act was the words spoken by killers after shooting two police officers in a downtown restaurant.  As they stole the officers gear, and left the building, they were heard to ...

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Pension shortfalls force states to put retirees money at risk

If there is one thing most politicians fail at, it is their ability to project and plan for the future, when it often more beneficial to their careers to sell out for today.  And because politicians for the most part are tied to 2-4 year election cycles, it rarely behooves them to make policies that are beneficial to constituents over the long run, and instead are more apt to sacrifice the future for their ...

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Russia adds another feather to its cap in war against the dollar

In the business world, there are three ways to conduct a transaction.  First, there is a negotiated plan where both sides achieve exactly what they want and are happy with the terms of the deal.  Secondly, there are deals that involve one side offering incentives to the other side, giving the second party a short-term advantage in the hopes by the first party that they will win out in the long-term. Then th ...

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ECB to kill savers with new Negative Interest Rate Policy

After two years of continuous jawboning, the head of the European Central Bank (ECB) finally acted and laid down a new policy that will destroy savers and anyone who wishes to protect their cash in the fiat currency system. On June 5, Mario Draghi lowered the interest rate for banks to a negative interest rate in an attempt to stave off the massive deflation that was creeping into the EU and in essence, kic ...

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Apple jumps on the Bitcoin bandwagon

Bitcoin users hit the mother lode on June 2 when America's largest company announced they were going to begin accepting the virtual currency in their Apps Store, and allow developers the power to sell Apple O/S based programs for Bitcoin. Aaron Trask:  It was a good day for Bitcoin and other virtual currencies.  Apple, for the first time, gave approval to developers for apps that are paid with virtual curre ...

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Fed patriarch Paul Volcker says its time for a new Bretton Woods

The original Bretton Woods conference of July 1944 was the primary foundation for the U.S. dollar becoming the global reserve currency during the final stages of World War II.  And while the original charter lasted until 1971 when President Nixon took the dollar off the gold standard, its significance and name has been used as a springboard for any future reserve currency discussions. On May 21 at the annua ...

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Big Brother: New government database will hold all your financial information

Terrorism?  Immigration reform?  Remember how the Patriot Act and NDAA were to focus on enemies of the American people?  Well a new set of programs involving the FBI and the Consumer Financial Protection Bureau reveal the true purposes behind these, and other legislative debates and and subsequent laws, and where foreign entities are no longer the focal point for government surveillance, but rather, the ult ...

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FDIC closes bank in Maryland bringing total number of failed banks in 2014 to 9

Slavie Federal Savings Bank., located in Bel Air, MD, was closed down by the FDIC on Friday, May 30.  This bank failure is the third one for the month of May and brings the total amount of bank closures in 2014 to nine. 5/30/2014 *** MD *** Bel Air *** Slavie Federal Savings Bank *** $6.6 million dollar estimated FDIC DIF cost. The total DIF for failed banks this week is $6.6 million. If you were banking at ...

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Growth of first quarter 2014 came in a negative 1% of revisions

Back in May, the initial first quarter GDP numbers were announced, with economic growth climbing a dismal .1%, and far below analyst expectations of 2.5 to 3%.  However, like most government models, the revised outcome would be much worse than the original numbers indicated. On May 29, the revised first quarter GDP was publicized, and the results were a negative growth in the economy for the first time sinc ...

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Michael Pento: Fed stopped QE because economy is cratering

On May 29, long time financial strategist Michael Pento spoke on the sudden drop in bond prices, and the ramifications of the falling Treasury notes.  During his 15 minutes interview with King World News, Pento laid out the only conclusion that could be drawn from both the Fed tapering, and the bond market falling... The realization that the economy is cratering. Eric King: Let's start with the bonds... the ...

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