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Central banks beginning to think the Euro is garbage as they swap reserves for the British Pound

Perhaps EU President Jean-Claude Juncker and ECB head Mario Draghi didn't get the memo, but it appears that central banks are beginning to think that their continental currency is garbage.  And in response to the declining confidence and trust in the Euro, many are making the move to instead fill their reserves with the British Pound despite all the rhetoric over Brexit. With ongoing turmoil raging in Europ ...

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China’s AIIB to induct 13 new members into its alliance

On March 23 China announced that 13 new member states, including Canada, will be joining the Asian Infrastructure and Investment Bank (AIIB).  In fact, with Canada's induction to the alliance they will become the first North American country to enter into China's alternative to the IMF, and continue the world's movement away from U.S. hegemony. Canada will join the Asian Infrastructure Investment Bank (AIIB ...

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As the ECB hints at allowing insolvent banks to fail, Italians move closer to electing an anti-euro candidate

On March 23 it appears that Italy has become the new Greece in the eyes of the ECB and the Troika as Europe's central banking authorities begin to drop hints that as the ECB begins tapering its QE programs, insolvent banks may simply be left to die without any monetary intervention. Speaking to the European Parliament yesterday, Danielle Nouy, head of the ECB supervisory body, informed the bureaucracy that ...

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Huge decline for industrial production adds more credence U.S. economy is now in recession

By all historic measures the U.S. economy has probably been in a continuous recession since 2000 following the collapse of the Dot Com bubble, and most definitely with their entry into what became known as The Great Recession following the 2008 financial crisis.  And by historically we are of course referring to data modeling based on 1980 measures rather than on today's government reporting which has exper ...

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Greek people move to the ammo box against banksters and politicians as eight years of trying the ballot box fails

A few years ago the Greek people sought to change their government in an attempt to stop the looting and pillaging of their country by the EU and Troika following the 2008 financial crisis, and the un-elected rule placed upon them through Goldman Sachs technocrat Lucas Papademus.  This of course led to the installation of the Syriza party and the current Prime Minister Alexis Tsipris. But in 2013 the Greek ...

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Atlanta Fed drops Q1 GDP again as indicators continue to scream economy is in recession

On March 15, just hours before the Fed's FOMC meeting culminated in the central bank raising interest rates once again, the Atlanta regional Fed bank lowered its forecast for Q1 GDP to below 1% validating further belief that the U.S. economy is severely slowing down in 2017. After reporting an estimate for the GDP of 1.2% just two weeks ago, the Atlanta Fed updated their newest estimate to .9% following two ...

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As consumer spending falls off a cliff and consumer debt gets maxed out, FICO scores set to change to make borrowing easier

Back between 2004 and 2008, the financial system's desire to get anyone into a home was so great that even if you didn't have a job or couldn't afford a home, lenders would manipulate applications so that those below the poverty line were able to purchase $600,000 and higher McMansions. Now in 2017 when once again many American are maxed out on their debt limits and consumer spending is falling off a cliff, ...

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Be careful what you wish for, because you might just get it as inflation has now gotten out of control for central banks

For nearly a decade the Federal Reserve, along with nearly every other central bank in the industrialized world, has used zero or negative interest rates to try to bring about annual asset inflation to a designated benchmark of 2%.  And while they claimed that almost every year since the 2008 Financial Crisis that inflation has remained below this number, their monetary policies have finally reached a point ...

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The coming week could create more economic chaos than Brexit

This coming week will see some of the most important economic and political decisions taking place in perhaps the last 9 years, coinciding also with the historic negative frequency that is often attributed to the 'Ides of March'. March 15 will see the Federal Reserve decide whether they will begin a trek towards aggressively raising interest rates at a time when every real economic indicator is screaming re ...

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President Trump still committed to reinstating Glass-Steagall

Despite many conservatives who desperately want to see the banks broken up under the new administration of Donald Trump, repealing parts of the Dodd-Frank banking reform act is only a small part in undoing legislation that had allowed banks and bankers to continue in the same risky speculations that led to the 2008 financial crisis. In fact, to protect the economy and the taxpayer from future bailouts, Pres ...

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Bitcoin’s next future move could come as early as Friday as SEC to decide on fate of ETF

Bitcoin has gone through a great deal of volatility over the past three months, including its reaching a new all-time high and surpassing the price of gold in dollar terms earlier this month.  And while Bitcoin's extremes in price movement have been primarily due to third party conduits such as through Bitcoin exchanges and regulatory restrictions imposed upon the crypto-currency by sovereign governments, t ...

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European think tank puts EU on a path to collapse much greater than the 2008 financial crisis

Despite the unprecedented amount of money spent by both sovereign governments and central banks to bailout financial institutions over the past eight years, a new report from a European think tank has determined that the state of Europe's financial system right now is worse than in 2008, and on the path to a much greater collapse than what nearly occurred during the crisis of that year. Measuring the years ...

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