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FDIC closes down eighth bank of 2017 in shuttering one from the city of Chicago

On Dec. 15, the FDIC closed down their eighth bank of 2017 as Washington Federal Bank for Savings shuttered its doors.  This institution is the first bank failure for the month of December, and it is also the first bank closure in the last two months. 12/15/2017 *** Illinous *** Chicago *** Washington Federal Bank for Savings  *** $60.5 million dollar estimated FDIC DIF cost. The total DIF for failed banks ...

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Those seeking liberty now prefer digital securities like Bitcoin over gold in new survey conducted by Ron Paul

A week ago, former Congressman and Presidential candidate Ron Paul conducted a non-scientific survey for those who follow him on Twitter and discovered that by a large margin that individuals who support him and his liberty movement now prefer investing in Bitcoin more than the long-time mainstay that is gold. Perhaps what is also most ironic from this survey is that Ron Paul has been a staunch advocate of ...

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Government seizure of $3 billion in Bitcoin from criminal organization helps push the meme that cryptos are only for lawbreakers

To wit, most governments to this point have dealt with Bitcoin and other cryptocurrencies using a velvet glove.  By this we mean they have primarily used propaganda and rhetoric to try to dissuade the general public from moving into it, or instituted minor threats such as focusing on making sure Bitcoin sellers pay their rightful taxes to try to limit its use in the general economy. However one of their big ...

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Financial establishment gets its wish as Mom and Pop investors erase memories of 2008 and are back to all in the stock market

Just as most of the public has repressed events from 16 years ago when terrorists attacked and laid waste to the World Trade Centers back on 9/11, so too it appears they have forgotten what took place in their portfolios following the 2008 financial crash.  This is because nearly 10 years after 'promising' never to touch the stock markets again after their wealth and retirement accounts were downsized betwe ...

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Was Bitcoin’s tumultuous volatility over past two days a prelude to when the CME starts their futures contracts next week?

December 11 is expected to be a red letter day in the story of Bitcoin as the Chicago Mercantile Exchange (CME) is set to begin selling paper futures contracts for the cryptocurrency.  In the meantime however,  the market is suddenly wondering how this will truly affect the decentralized digital currency if the past two days of trading on their primary exchanges is any indication. Not since the the slew of ...

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Potential nominee to become a Fed governor wants to abolish cash and institute negative interest rates during next crisis

While President Trump prepares to fill numerous more positions at the central bank beyond those of Fed Chairman and Vice-Chairman, one of his potential nominees for a seat as a Fed Governor is an interesting anomaly.  First Marvin Goodfriend would be a departure from the last eight to seventeen years of Fed intervention in the markets outside of a full blown crisis, but on the other hand if a crisis should ...

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Government crackdowns on domestic Bitcoin trading will continue if capital flight becomes a serious issue

What a difference a year makes for Bitcoin. At the beginning of 2017 the cryptocurrency not only began its meteoric rise in price compared to the world's global currencies, but it also saw numerous governments commence their first real set of regulations and outright crackdowns as more and more investors used Bitcoin as a means to get out of their domestic currencies and into what they perceived were more s ...

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As an entrepreneur forecasts the death of cash, one major bank is already seeing this at their local branches

On Dec. 1 Evan Sohn, an enterpreneur in the tech industry, spoke to the panel on CNBC about the declining use of cash in the economy, and how digital payments will one day soon make the holding of physical cash obsolete. The world will soon be left without paper money, says tech entrepreneur Evan Sohn, as more and more people move to non-cash transactions. "How far are we from a restaurant that says we only ...

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Fed is fighting the last war and incapable of dealing with coming collapse that could be six times greater than 2008

According to economist Jim Rickards, the global financial system could very easily see a meltdown six times greater than what took place in 2008, and where central banks today would be incapable of handling such a collapse.  And One of the primary reasons for this according to Rickards is that the Fed, along with other central banks, are 'fighting the last war'. In a famous documentary about World War I, hi ...

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Trump victory over Obama holdovers at the CFPB who are alleged to have conned banks into funding ant-Trump organizations

When two of the biggest swamp dwellers in Washington pushed through the corrupt Dodd-Frank Banking Reform Act back in 2010, one of the by-products of this egregious legislation was in the creation of the Consumer Financial Protection Bureau.  And with prior Obama era holdovers actually suing the Trump administration for replacing them in offices they felt 'entitled' to have, a judge laid down the law on Nov ...

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A tale of two ‘cities’ American style

On Black Friday (Nov. 24), Amazon stock shot up during the day's market trading session which allowed CEO Jeff Bezos to become the first American to be worth over $100 billion... at least on paper.  And when you couple his wealth with the other two richest men in the U.S., their combined riches are greater than the total accumulated wealth of the bottom 50%. However the rapid increase in wealth for these me ...

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While the last few years of populism have been focused on the political, expect the next leg of change to be economic

In an interesting correlation between today and the last great populist movement from the 20th century, each stage of the movement appears to be going in lockstep with what took place during the previous cycle of the 1920's and 30's.  And in a new study published by billionaire hedge fund manager Ray Dalio, that next step following the political unrest of a populist uprising is the pendulum swinging around ...

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