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FDIC closes down sixth bank of 2017 in the state of Illinois

On May 26, the FDIC closed down their sixth bank for 2017 as Fayette County Bank shuttered its doors.  This institution is the second bank failure for the month of May, and the second Illinois based bank closure this year. 5/26/2017 *** Illinois *** Saint Elmo *** Feyette County Bank *** $1o million dollar estimated FDIC DIF cost. The total DIF for failed banks this week is $10 million. If you were banking ...

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Move over JP Morgan and Goldman Sachs, it is China, not the U.S., who has the world’s largest public company

Despite the fact that because of their manipulated GDP numbers, the U.S. is still considered the world's number one economy.  However the reality is that they have already been surpassed by China in nearly every other facet of economic and financial measurement.  And at the top of this list are China's domination in both productivity and in banking. Which is why it should come as no surprise that on May 24, ...

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Long-time investor who was fictionalized in movie Wall Street reveals markets controlled by the PPT

For most traders and investors, the cable business channel CNBC is nothing more than a stock hawking program that moonlights as a mouthpiece for the Fed.  And perhaps their best example of being nothing more than a round table to provide CEO's the opportunity to spin their companies problems into rainbows was just before the 2008 financial crisis when they allowed the former CEO of Bear Stearns to come on t ...

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Housing bubble 2.0? New and existing home sales drop at same time prices reach record highs

Since the only thing the Federal Reserve knows how to do is print money and create asset bubbles, it should come as no surprise that nine years after the bursting of the last housing bubble, the economy has achieved success in the creation of another one.  And as data comes out for the month of April showing slumping sales in both new and existing homes, the contradiction to the this data is in the fact tha ...

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With 77 countries already signed onto the AIIB, China expects bank to grow to 85 by end of year

In just a few short years, China's Asian Infrastructure and Investment Bank (AIIB) has grown at lightening speed, already having 77 nations sign onto the Asian equivalent of the West's IMF.  And in a recent Conference on development in Jiangsu Province, the President of the AIIB suggested that this number will increase to 85 countries signed on board by the end of the year. This new growth in the developmen ...

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Greek austerity reaches saturation point as police now joining with protesters against government

One of the more important geo-political events we have been watching and waiting on the sidelines for in recent weeks is at what point would the police and military finally capitulate to the protesters in Venezuela and realize that the only way things would change in the South American country was to physically oust President Nicholas Maduro in a military coup.  But as that has yet to happen despite their e ...

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Turning point as Davos elites suddenly buying into the Silk Road initiative

With last weekend's Belt and Road Forum now in the history books, the significance of an ever-growing trade route from Korea to London has finally moved from being ignored by the Western elites, to suddenly being seen as a serious threat.  And on May 17 members of the World Economic Forum (Davos) are taking note and have put the new Silk Road 2.0 project squarely on their upcoming Summer agenda. The World E ...

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Stock market has replaced pits on Wall Street with antennas in New Jersey and Chicago

With the advent of high frequency trading, and exchanges allowing the big banks to front run every trade made on their platforms, the antiquated system of buying and selling in 'pits' by live hawkers is long gone and has been replaced by antennas in the fields of New Jersey and Illinois that stand as monoliths to the greed of Wall Street. Today's Wall Street trading platforms Banks and major brokers pay mil ...

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More bad news for college students as Fed rate hikes leading to higher interest on student loans

In our current debt based financial system, the banks, as well as the Federal Reserve, continuously need borrowers to to keep the ponzi monetary system going.  And whether it was through the creation of a housing bubble from 2003-2007, or the current bubbles tied to student loans, automobiles, and equities, the moment debt borrowing begins to slow down is the moment the economy rushes full force into the ne ...

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Student loan default process looking eerily like 2008 housing foreclosures as DOE orders halt to collections

When the housing bubble burst in 2007-08, the courts were inundated with hundreds of thousands if not millions of mortgage defaults that were immensely convoluted due to the fact that wall street fraud had made determination of ownership nearly impossible.  And the heart of this was the process where mortgage lenders had sold their mortgages to investment banks who then split the deed from the title, and th ...

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The Fed’s dichotomy as interest on the debt now costs the government $500 billion per year from their budget

On May 4 it was determined that the U.S. taxpayer (government) now pays over $500 billion per year in interest on the nearly $20 trillion of national debt.  That equates to 13% of their annual budget which as of last year was $3.8 trillion before adding another $1 trillion or so in deficit spending. Thus both the government and the Federal Reserve are in a quandary, especially as the economy begins to slow ...

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Bank run on Canada’s largest alternative home lender could potentially lead to systematic run on all banks

One of the biggest warning signals that went primarily under the radar leading up to the 2008 banking collapse and financial crisis was the run on Northern Rock bank in the UK a year earlier.  And while the British exchequer was able to mollify the public through a series of emergency measures to stop the run, it was a foreshadowing of the bursting of the Western housing bubble, and was close to ground zero ...

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