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EU ready to impose economic sanctions on their own member states if they don’t instill more austerity on their people

As the world economy rushes headlong towards its next potential crisis, bureaucrats at the ECB are preparing for this by threatening to fine and implement economic sanctions against their own member nations if they do not conform to demanded financial reforms recommended by the central bank. Note that the threat of fines and sanctions are being made against EU members not over approved policies, but for sim ...

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Feds bust individual tied to the collapse of two Bitcoin exchanges

Last week the U.S. Department of Justice indicted Alexander Vinnik on fraud and money laundering charges tied to not just one, but two Bitcoin exchanges.  And since the Mt. Gox criminal trial is being led by Japanese prosecutors over in the Far East, this indictment is only the second major bust taking place in the U.S., and the first since the feds took down the Silk Road portal a few years ago. This week, ...

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As banks charge higher interest rates on loans, businesses will be getting paid on deposits while individuals get the shaft

One of the primary reasons why banks stopped or severely curtailed paying interest on depositor accounts was because the Federal Reserve lowered interest rates to near zero percent following the 2008 finance crisis.  But with the central bank having raised them four times since December of 2015, these same banks have summarily increased the rates of interest they charge to borrowers while at the same time d ...

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Italian leadership conducting serious debate over both leaving the Euro and the Eurozone

In the U.S., QE and ZIRP policies implemented by the Federal Reserve over the past nine years have resulted in a massive divide between the halves and have nots, and at a disparity not seen since just before the 1929 stock market crash.  In fact, since the central bank chose to backstop the banks and stock markets with tens of trillions of dollars of virtually free money, the wealth redistribution from the ...

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Student loans have now become the MBS of the 2008 financial collapse

If there is one single truth on Wall Street today it is that if bankers can get access to it, it will become financialized. Many who have read the book or watched the movie, The Big Short, know that the Mortgage Backed Security have been around as far back as the 1970's, and played a significant role in helping create economic growth over the next two decades.  But following three small and large financial ...

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Visa offering big incentives to retailers as a way to slowly eliminate cash from the economy

It is one thing for a company to offer incentives to a partner to help promote the use their products in greater amounts, but it is another thing to entice a customer with incentives if they will change their business model entirely. But sadly that is exactly what Visa is doing for retailers now in offering them cash to upgrade their POS (Point of Sale) systems if they then cease to accept cash from custome ...

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Italian bank bailouts allowed despite EU rules because governments know you can only inflict a bail-in one time

Rules introduced by the EU last year forbid taxpayer money being used to rescue lenders without investors also taking a hit. But investors are to be protected under the deal pulled together by Rome and approved by the European Commission. - Express Over the past two weeks, the Italian government was given permission by the ECB to bailout three banks despite the fact that current rules within the European Un ...

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Bitcoin and fiat currencies both fail the test of wealth protection, but for different reasons

"FIAT is a horrible long term store of value. Bitcoin is a horrible short term store of value." Advocates of Bitcoin have been trying to sell their point of view that it and other cryptocurrencies are a viable form of money.  But like their primary competitor, that being sovereign fiat currencies, they each fail in their basic foundations under the definition of money. These are the seven necessary characte ...

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Global debt continues to be 325% of the world’s annual GDP

There remains to be an underlying question in the global economy as the world's central banks begin to tighten the screws on their policies of cheap money.  And that is, since the banks and economy have relied almost solely on the Fed, ECB, BOJ, and Bank of China's printing of 10's of trillions of dollars to 'stimulate' the financial system, what is bound to happen once they turn off the monetary spigots? T ...

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New IMF report suggests dollar is 10-20% overvalued

On June 27, the IMF published a report which validated what many in the alternative media knew already... that economic growth over the past nine years following the 2008 financial crisis has been much worse than 'officially' reported.  And because of this, and because of several other factors such as increases to the national debt, the current value of the dollar is estimated to be 10-20% higher than it sh ...

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Ancillary EU nations continue to reject the Euro which is a requirement for full membership

On June 26 Andrej Babis, the man who is expected to take over the Czech Republic come October, cited that the people of his country do not want to integrate the Euro currency into their monetary system in a poll that showed 72% of the population are against abandoning the Koruna. What is significant about this is that accommodation of the continental currency is a requirement for full membership into the Eu ...

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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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