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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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Corporate CEO’s receive record levels of compensation

Do you ever wonder why companies today focus more on the stock markets than on actual production, invention, and growth?  It is because a CEO's compensation is usually based on how high a stock price they can get for their shareholders and board members during a given quarter or fiscal year.  And when you couple massive stock buybacks with the Federal Reserves QE programs, those stocks are all at record hig ...

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American hypocrisy: Weapons from Benghazi could have gone to Boko Harum

Last week, celebrities from all across the U.S. and including the First Lady Michele Obama, played the selfie game by tweeting pictures of themselves holding placards with the hashtag, 'Save our girls'.  This public relations effort was meant to place guilt on a radical Muslim organization known as Boco Harum in an attempt to get them to free hundreds of Nigerian women they had kidnapped with the intention ...

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Iran deals with criminal bank fraud the old fashioned way… they hung him

In the Western banking world where financiers own and control the nation's politicians, fraud, abuse, and corruption are not just a rare anomaly in the market, but it is how business is done.  And with no major bankers ever being prosecuted by both the Bush and Obama administrations, simply paying small fines have only resulted in an increase to the fraud and theft. But in the world of Islam, money and bank ...

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FDIC closes bank in Ohio bringing total number of failed banks in 2014 to 8

Columbia Savings Bank., located in Cincinnati, OH, was closed down by the FDIC on Friday, May 23.  This bank failure is the second one in the month of May and brings the total amount of bank closures in 2014 to eight. 5/23/2014 *** OH *** Cincinnati *** Columbia Savings Bank *** $5.3 million dollar estimated FDIC DIF cost. The total DIF for failed banks this week is $5.3 million. If you were banking at Colu ...

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U.S. sanction Fail: Russian’s made billions off of Obama’s gambit

Ahhh chess.  It's a game where masters succeed and the amateurs fail.  And for centuries, those who have mastered the ability to think and plan several moves ahead have always been able to transfer those skills into real life situations and are then able to manipulate those who are limited to just reactionary responses. This has been the case between Russia and the United States over the past year, and in p ...

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Congress guts USA Freedom Act in favor of mass spying on Americans

If there is one portion of George Orwell's 1984 that has fully immersed itself into the fabric of America, it is the concept of Newspeak.  Newspeak is where the power of language is used to manipulate citizens into believing what the State wants you to believe, and in many cases, redefine words which meant one thing before, and now mean something altogether different. Some of these words used today by the S ...

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Russo-Sino relations become one as largest energy deal signed

During the cold war, there was one thing the United States could rely upon as it strove to be the sole defender against global Communism.  That ace in the hole was the fact that the two largest Communist powers could never fully achieve an alliance against the West, and would quite often dedicate energy and resources against one another more than against their true enemy which was the U.S.. However, when Ru ...

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