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Bitcoin related jobs emerging as one of the top trends on international recruitment sites

Despite the rise of robots potentially taking over 50% or more of the world's jobs over the next decade, the advent of cryptocurrencies are spawning new industries that are now requiring innovators to build the platforms and technologies of the future using the Blockchain.  And according to a trend forecast on the international job recruiting site Freelance.con, Bitcoin and other cryptocurrency based jobs a ...

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Another move away from U.S. hegemony could come soon as Europe mulls ditching the IMF

The International Monetary Fund (IMF) has a long reputation as being little more than a financial tool of the West used to impose U.S. hegemony on other nations through their getting them to borrow unsustainable debt.  And as we saw just a few years ago in Greece regarding negotiations over their own debt obligations, the IMF has little interest in aiding countries so that they can become economically sound ...

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And then there were two in the race to become the next head of the central bank

On Oct. 26 a report surfaced that two of the four primary candidates to become the next head of the Federal Reserve have pulled out of contention, leaving front runner Jerome Powell and the hawkish economist John Taylor as the two most likely to fill the top positions at the central bank. Outgoing Fed Chairperson Janet Yellen was unlikely to retain her place at the head of the Federal Reserve when President ...

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As part of tax reform Congress is looking at limiting deductions for contributions to 401K plans

When it comes to IRA's and 401K's, these programs are a catch-22.  The positive side of course is that contributions to each provide individuals a way to cut down on their tax obligations in the short term while also investing for their retirement decades down the road.  However there is also the dirty little secret few ever realize when they simply give thousands of dollars to Wall Street, and that is that ...

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Despite a slowdown in Yuan internationalization, 60 countries now hold the RMB as a reserve currency

Over the past four to six months, expansion of the Yuan in trade settlement has stalled a bit as countries have fallen back to holding dollar in light of declining economic conditions.  However with the acceptance of the RMB into the IMF's SDR basket of currencies, 60 nations, including the ECB, now hold Yuan as a reserve in their central banks. More than 60 countries and regions have adopted the Chinese re ...

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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 ...

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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 ...

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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 ...

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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'. ...

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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 ...

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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 ...

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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 ...

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