You Are Here: Home » News » Banking Cartel (Page 2)

Best performing assets or markets since Black Monday stock market crash 30 years ago

Today is the 30th anniversary of Black Monday, or the stock market crash of Oct. 19, 1987.  And from it heralded the beginning of the Fed's tampering with interest rates and cheap money to prop up markets to the point that the next three decades would be remembered for asset bubbles that led to even greater crashes. However for investors buying the Oct. 19 dip from 30 years ago would be one of the most prof ...

Read more

China completes first test runs on establishment of new sovereign digital currency

A few days ago the People's Bank of China completed preliminary testing of a new digital currency to run concordant with the Renminbi. With most of China already functioning on a digital monetary system, creation of a digital currency that would run on the Ethereum of Blockchain platforms is the next step for the world's largest financial center, especially since recent studies show that the Chinese people ...

Read more

FDIC closes down seventh bank of 2017 in the state of Kansas

On Oct. 13, the FDIC closed down their seventh bank of 2017 as The Farmers and Merchants State Bank of Argonia shuttered its doors.  This institution is the first bank failure for the month of October, and it is also the first bank closure in the last five months. 10/13/2017 *** Kansas *** Argonia *** The Farmers and Merchants State Bank of Argonia *** $2.6 million dollar estimated FDIC DIF cost. The total ...

Read more

Expect Libor rigging to continue with big banks as U.S. courts impose ‘slap on the wrist’ fines

In today's financial world where governments, regulators, and courts deem banks 'too big to jail', fraud, corruption, and theft are just the cost of doing business.  And when banks and brokers can make tens of billions of dollars or more, and only pay fines of about 1-5% of their profits, then there is no incentive not to continue committing fraud when all they will receive is a virtual 'slap on the wrist'. ...

Read more

Keeping Greece in austerity profitable for the ECB as the central bank reaps windfall from holding their debt

For almost the past decade Greece has become Europe's poster child of economic decline, with nearly every financial institution within the Eurozone bent on keeping the Southern European country in poverty and austerity.  And even with an extreme changes in their political structure through the election of the Syriza Party, Greece has remained virtually enslaved to the debts they incurred leading up to the f ...

Read more

You know the jig is up with the economy when the Fed admits they were wrong about inflation and jobs

Despite employing hundreds of P.H.D. economists as well as having access to the very best data, the Federal Reserve has proven itself to have been little more than a propaganda tool, and a mechanism by which the remaining wealth of the people has been funneled into the hands of a few.  And with the central bank's credibility having been destroyed through the ignorance and outright lies of its former and cur ...

Read more

Fed Governor spins more propaganda as Brainard blames income inequality over bank’s policies for declining growth

Perhaps it should come as no surprise that an individual who grew up in a Communist environment, and later became a favorite of the Obama administration, would blame income equality as the primary reason why the economy has not recovered much over the past decade.  But this is exactly what Lael Brainard, a member of the Federal Reserve Board of Governors, preached in a report on the current state of the eco ...

Read more

Even with legitimizing Bitcoin for commerce, Japan wants to replace cash with its own cryptocurrency

With money velocity in Japan's economy at excruciating lows, the government decided a few months ago to allow a private cryptocurrency to proliferate in commerce.  But even with the acceptance of Bitcoin in their general economy, Japan is seriously looking at creating its own sovereign crypto to replace the people's reliance upon cash. Authorities in Japan are considering starting a digital currency to be c ...

Read more

Ratings agency hypocrisy continues on as S&P downgraded China over debt, but ignores U.S.’s 105% debt to GDP

On Sept. 21, S&P ratings agency downgraded China for what they determined as 'risks involved in debt expansion', and this move follows a similar one done by Moody's ratings agency a few months ago against the Far Eastern economy. However neither of these arbiters of credit worthiness have sought fit to impose the same decline on America's own sovereign rating, and this despite the fact that the governme ...

Read more

India joins in on the bandwagon of sovereign governments potentially creating their own cryptocurrencies

Since cryptocurrencies are pretty much in the infant stages of acceptability and understanding, sovereign governments as a whole are on the fence in how to deal with de-centralized money.  However within the BRICS nations there is a growing trend towards co-opting the blockchain platform for their own benefit, and this is leading a majority of the countries within this coalition to begin a serious study on ...

Read more

Fed thankful for hurricane’s Harvey and Irma since it gives them cover for slashing Q3 GDP estimates

It's another fiscal quarter and another major downgrade of GDP estimates by the Atlanta Fed. The U.S. central bank loves to use whatever economic data models are available to justify their narrative while at the same time discounting or even discarding information that could interfere with desired monetary policies.  For example the Fed has pushed the theme of 'economic recovery' for years following their i ...

Read more

EU’s Juncker pressures ancillary states to not just join trade union but to also accept Euro as their primary currency

All appearances within the European Union are pointing to EC commissioner Jean-Claude Juncker wanting to turn Europe into one big superstate as the leading official is seeking to mandate that all ancillary countries who wish to join the coalition's Schengen Zone (trade zone) must also accept the Euro as their primary currency. Additionally on Sept. 13, Juncker called for the Union to create the office of a ...

Read more

© 2012 Secrets of the Fed