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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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Are Amazon and Alibaba replacing banks as lenders for small businesses?

Since the banking crisis of 2008, financial institutions have found that borrowing large sums of money from the Fed and then simply buying U.S. Treasuries has been much more profitable and less risky than lending it to businesses.  And as a result, the amount banks used to lend to companies, especially those categorized as small businesses, have declined by between 20-30%, leading many of these Mom and Pop ...

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Be very wary of all-time high stock prices as much of their volume is coming from direct central bank funding

Over the past 12 month, equity prices in the stock markets have soared to new all-time highs while insider selling continues to be a constant.  And despite the propaganda being tossed out by the mainstream business networks that purchases of equities are finally coming from 'money held on the sidelines', the reality is that the only thing propping up stocks is the record amount of money being printed by cen ...

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Congratulations! Ratings agencies give tapped out consumers a boost to borrow more money to buy thin

It has been nine years since the crash of the last housing bubble, and the advent of millions of Americans experiencing foreclosures which crushed their credit scores below the levels in which they could borrow money at a decent rate.  And since these dings on one's credit score, along with those who also may have experienced their own hits from defaulting on miscellaneous consumer credit vehicles such as c ...

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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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