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Student loans have now become the MBS of the 2008 financial collapse

If there is one single truth on Wall Street today it is that if bankers can get access to it, it will become financialized. Many who have read the book or watched the movie, The Big Short, know that the Mortgage Backed Security have been around as far back as the 1970's, and played a significant role in helping create economic growth over the next two decades.  But following three small and large financial ...

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Visa offering big incentives to retailers as a way to slowly eliminate cash from the economy

It is one thing for a company to offer incentives to a partner to help promote the use their products in greater amounts, but it is another thing to entice a customer with incentives if they will change their business model entirely. But sadly that is exactly what Visa is doing for retailers now in offering them cash to upgrade their POS (Point of Sale) systems if they then cease to accept cash from custome ...

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Italian bank bailouts allowed despite EU rules because governments know you can only inflict a bail-in one time

Rules introduced by the EU last year forbid taxpayer money being used to rescue lenders without investors also taking a hit. But investors are to be protected under the deal pulled together by Rome and approved by the European Commission. - Express Over the past two weeks, the Italian government was given permission by the ECB to bailout three banks despite the fact that current rules within the European Un ...

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Bitcoin and fiat currencies both fail the test of wealth protection, but for different reasons

"FIAT is a horrible long term store of value. Bitcoin is a horrible short term store of value." Advocates of Bitcoin have been trying to sell their point of view that it and other cryptocurrencies are a viable form of money.  But like their primary competitor, that being sovereign fiat currencies, they each fail in their basic foundations under the definition of money. These are the seven necessary characte ...

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Global debt continues to be 325% of the world’s annual GDP

There remains to be an underlying question in the global economy as the world's central banks begin to tighten the screws on their policies of cheap money.  And that is, since the banks and economy have relied almost solely on the Fed, ECB, BOJ, and Bank of China's printing of 10's of trillions of dollars to 'stimulate' the financial system, what is bound to happen once they turn off the monetary spigots? T ...

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New IMF report suggests dollar is 10-20% overvalued

On June 27, the IMF published a report which validated what many in the alternative media knew already... that economic growth over the past nine years following the 2008 financial crisis has been much worse than 'officially' reported.  And because of this, and because of several other factors such as increases to the national debt, the current value of the dollar is estimated to be 10-20% higher than it sh ...

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Ancillary EU nations continue to reject the Euro which is a requirement for full membership

On June 26 Andrej Babis, the man who is expected to take over the Czech Republic come October, cited that the people of his country do not want to integrate the Euro currency into their monetary system in a poll that showed 72% of the population are against abandoning the Koruna. What is significant about this is that accommodation of the continental currency is a requirement for full membership into the Eu ...

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First Spain, and now Italy as ECB rushes in to deal with insolvent PIIGS banks

A couple of weeks ago, the ECB engineered the final collapse of Banco Popular by allowing Santander to purchase the institution for one euro, and then providing funds to help shore up and recapitalize the bank following the takeover.  And despite EU rules which prohibit bailout interventions, the European Central Bank went around these statutes because Banco Popular's fall would mean severe problems for Ger ...

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Fed doesn’t appear to understand real inflation as food prices soar 14% in just the past two months

Last week Janet Yellen and the Federal Reserve chose to raise interest rates a quarter point at a time when economic data has been at or near recessionary levels for at least the past two quarters.  And of significance was the FOMC's claim that inflation was still running below the central bank's target rate of 2%. The Federal Reserve approved its second rate hike of 2017 even amid expectations that inflati ...

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China accepts three more countries into the AIIB as second annual meeting of global investment bank kicks off

On June 16, the second annual meeting for China's Asian Infrastructure and Investment Bank (AIIB) started off with a bang as the Eastern financial center announced the acceptance of three more countries into the fold. Since its inception in 2015, the AIIB has brought a total of 80 countries on board its alternative to the West's World Bank, and is expected to bring in up to five more nations before the end ...

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Monetary world accelerating their de-dollarization as ECB trades in dollar reserves for RMB

On June 13 the European Central Bank (ECB) confirmed that they had recently, and for the first time ever, sold 500 million euros worth of dollar reserves and used the proceeds to instead by the Chinese RMB. This move serves a two-fold purpose for the central bank as Europe has experiencing increased trade with China over the past few years, and trust and confidence in the dollar is waning as the world begin ...

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Economic recovery fraud as 93% of all new jobs are imaginary, and 72% of all businesses are unprofitable

Tens of trillions of dollars in printed money can mask many ills, but there was a reason why the voters chose to elect Donald Trump to the office of President during last year's election... because on Main Street the economic recovery so touted by the Fed has been a complete fraud. And while we could quibble over the fact that 93 million Americans are not even being counted in the nation's labor pool, or th ...

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