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 ›
Under the guidelines of Sharia Law, Muslims are to refrain from entering into any financial contracts that involve the use of interest on either side of the agreement. ¬†In theory this means that any loans made by or to someone following the beliefs of orthodox Islam should result in a zero sum game, but in practice the borrower often makes a donation under the guise of 'alms' as a way to skirt this religiou ...Read more ›
IMF double speak at Davos as Lagarde says 2017 economy should be good, but there are factors that could lead to volatility
It seems like all central bankers have two things in common... they cannot under any circumstances tell the truth, and they cannot state their analysis in plain terms. For years the U.S. central bank has gotten away with this type of obfuscation, saying that the economy is both good and bad at the exact same time. ¬†So perhaps it is of no surprise that another of the world's main central bankers at the World ...Read more ›
Radio personality Michael Savage is famous for saying, "liberalism is a mental disorder". ¬†And for those of us in the U.S. who have watched the central bank churn out one bubble after another since the 1990's and expected that THIS TIME would be different, it appears we can add Keynesianism as well to Savage's list of mental illnesses. Artificially low interest rates and cheap money led to both a housing bu ...Read more ›
This week heralds the annual Davos World Economic Forum, where elites go to eat $40 hot dogs and discuss global topics that they have no idea about. ¬†And all one has to do to validate this is to realize that nearly every one of the thousands of participants jetting into the high mountains of Switzerland never saw the potential of Britain leaving the EU, or Donald Trump getting elected as President of the Un ...Read more ›