As the Chinese government battles over regulation of Bitcoin exchanges within their financial system, the People's Bank of China (PBOC) is currently developing their own sovereign crypto-currency that would begin to replace physical Yuan in a digitally based monetary system. Using the same Blockchain technology that Bitcoin runs on, China's central bank is working towards a digital currency that could easil ...Read more ›
Despite all the reforms and economic growth that has come out of Russia since the rise to power of Vladimir Putin, there is still plenty of corruption, especially within the corporate and mafioso sectors of the country. ¬†And with the West pushing strongly towards eliminating physical cash under the guise of stopping terrorism, drug cartels, and money laundering, it appears that even Russia is not immune to ...Read more ›
On Valentines Day, Federal Reserve Chairman Janet Yellen went before Congress to discuss the state of the economy, and the direction that the cost of borrowing might go in the coming months. ¬†And as the Fed Head suddenly changes her tune from 'the economy is good' back in December when Barack Obama was still President to 'the economy is uncertain' just two months later under Donald Trump, the fact of the ma ...Read more ›
Billionaire Jim Rogers forecasts a day when cash is gone and governments monitor every aspect our your spending
Billionaire investor Jim Rogers spoke with an organization known as Microvoices last week, and forecasted a dire future where people will no longer have access to physical cash, and governments will control and monitor every aspect of their spending and saving. The time will come when you won't be able to buy a cup of coffee without being traced, warns investment guru Jim Rogers. To control people, governme ...Read more ›
Yesterday Japan announced that they are accepting Bitcoin as legal tender in their monetary system, making them the first nation to legitimize the crypto-currency into their financial system. ¬†Now on Feb. 10, a blockchain based tech company in the city of Vienna has opened up the first 'Bitcoin Bank', making Austria the first country to have a centralized physical location for the buying and selling of the ...Read more ›
Since Donald Trump took over the Presidency of the United States in late January, there has been little that his administration and the German government have been able to agree upon. ¬†However one thing appears to have brought the two sides together, and that is what to do with the coming Greek financial crisis. On Feb.8, President Trump's Ambassador pick for the EU stated that he sees Greece cutting ties w ...Read more ›
As President Trump signs Exec. Order to dismantle Dodd-Frank Reform Act, is he really trying to accelerate the collapse?
Just prior to both Congressman Barney Frank and Senator Chris Dodd hightailing it out of Washington, they jointly helped engineer one of the most egregious banking laws to come out of the 2008 financial crisis. ¬†Known as the Wall Street Reform and Consumer Protection Act, this bill did neither of these things and in fact engendered the banks to be allowed to commit even more speculation and risk because the ...Read more ›
A side effect of Trump's weak dollar policy is that Japan seeks to invest pension fund money into jobs in the U.S.
For years Wall Street used Japan's zero interest rate policy to create what is known as the Yen Carry Trade, and manipulate the difference in currencies to profit from the buying of assets using the weaker currency. ¬†But with President Donald Trump seeming to want the dollar to weaken under his administration to aid in the lowering of America's trade deficit, a side effect of this could also include money r ...Read more ›
Perhaps the writing is on the wall for how even the U.S. central bank feels about the solvency of their own currencies when one of their employees was found to have been using Federal Reserve computers and processing power to mine for Bitcoins. Nicholas Berthaume, a former systems analyst at the Washington office of the Federal Reserve Board was sentenced today with a fine and probation for installing Bitco ...Read more ›
Last year's World Economic Forum in Davos saw several conferences being dedicated towards 'prepping' for the elite, where land purchases and the building of luxury bunkers became a reality due to fears of a coming economic collapse, and the retaliation by people for their years of siphoning wealth from them. ¬†And in 2017 this mentality has not changed as rumors from both inside and outside Davos show that s ...Read more ›
Removal of Dodd-Frank could once again lead to economic growth as banks would be incentivized to lend to businesses
Like the removal of Glass-Steagall, the Dodd-Frank Banking Reform Act that came out of the 2008 financial crisis turned out to be a boon for the too big to fail banks, but a clamp on mid-tier and regional banks that were the engines that fueled small businesses in America. ¬†And it was these two pieces of legislation that made it possible for banks and corporations to profit from the financialization of the ...Read more ›
On Jan. 27, the FDIC closed down their second bank for 2017 as Seaway¬†Bank and Trust Company shuttered its doors. ¬†This institution is also the second bank failure for the month of January, and the first Illinois bank closure since May of last year. 1/27/2017 *** Illinois *** Chicago *** Seaway Bank and Trust Company *** $57.2 million dollar estimated¬†FDIC¬†DIF cost. The total DIF for failed banks this week ...Read more ›