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Financial establishment gets its wish as Mom and Pop investors erase memories of 2008 and are back to all in the stock market

Just as most of the public has repressed events from 16 years ago when terrorists attacked and laid waste to the World Trade Centers back on 9/11, so too it appears they have forgotten what took place in their portfolios following the 2008 financial crash.  This is because nearly 10 years after 'promising' never to touch the stock markets again after their wealth and retirement accounts were downsized betwe ...

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Was Bitcoin’s tumultuous volatility over past two days a prelude to when the CME starts their futures contracts next week?

December 11 is expected to be a red letter day in the story of Bitcoin as the Chicago Mercantile Exchange (CME) is set to begin selling paper futures contracts for the cryptocurrency.  In the meantime however,  the market is suddenly wondering how this will truly affect the decentralized digital currency if the past two days of trading on their primary exchanges is any indication. Not since the the slew of ...

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Potential nominee to become a Fed governor wants to abolish cash and institute negative interest rates during next crisis

While President Trump prepares to fill numerous more positions at the central bank beyond those of Fed Chairman and Vice-Chairman, one of his potential nominees for a seat as a Fed Governor is an interesting anomaly.  First Marvin Goodfriend would be a departure from the last eight to seventeen years of Fed intervention in the markets outside of a full blown crisis, but on the other hand if a crisis should ...

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In the wake of the Kate Steinle verdict in San Francisco, the House submits new bill to penalize public officials over sanctuary cities

One of the most egregious rules in government at any level is that elected officials cannot be held responsible for laws or actions they undertake that lead to veritable harm to the citizenry.  And whether it is in the form of unlawful gun control rights that have led to the death of innocent victims unable to protect themselves from criminals, or in the most recent case of a sanctuary city where an illegal ...

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Government crackdowns on domestic Bitcoin trading will continue if capital flight becomes a serious issue

What a difference a year makes for Bitcoin. At the beginning of 2017 the cryptocurrency not only began its meteoric rise in price compared to the world's global currencies, but it also saw numerous governments commence their first real set of regulations and outright crackdowns as more and more investors used Bitcoin as a means to get out of their domestic currencies and into what they perceived were more s ...

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Following last week’s coup to oust Zimbabwe’s Mugabi, Venezuelan President Maduro tries desperate move with new sovereign cryptocurrency

As Zimbabwe began moving into its newest round of monetary hyperinflation, the government finally decided to step in last week and force out the long reigning dictator Robert Mugabi.  And with Venezuela also residing in a state of hyperinflation and imminent insolvency, President Maduro appears to be trying one last desperate act to stay in power by announcing on Dec. 3 plans to create a sovereign cryptocur ...

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As an entrepreneur forecasts the death of cash, one major bank is already seeing this at their local branches

On Dec. 1 Evan Sohn, an enterpreneur in the tech industry, spoke to the panel on CNBC about the declining use of cash in the economy, and how digital payments will one day soon make the holding of physical cash obsolete. The world will soon be left without paper money, says tech entrepreneur Evan Sohn, as more and more people move to non-cash transactions. "How far are we from a restaurant that says we only ...

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Millennials are not only expected to make less than their parents, but also never have a chance to retire

Thanks to an economy that has seen wage stagnation for more than a decade, and a debt load unheard of by individuals before the age of 25 thanks to their student loan obligations, a new study within the financial industry asserts that not only will millennials be the first generation not to exceed the previous one economically, but also that they should expect to never be able to retire. Perhaps then it sho ...

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Fed is fighting the last war and incapable of dealing with coming collapse that could be six times greater than 2008

According to economist Jim Rickards, the global financial system could very easily see a meltdown six times greater than what took place in 2008, and where central banks today would be incapable of handling such a collapse.  And One of the primary reasons for this according to Rickards is that the Fed, along with other central banks, are 'fighting the last war'. In a famous documentary about World War I, hi ...

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Trump victory over Obama holdovers at the CFPB who are alleged to have conned banks into funding ant-Trump organizations

When two of the biggest swamp dwellers in Washington pushed through the corrupt Dodd-Frank Banking Reform Act back in 2010, one of the by-products of this egregious legislation was in the creation of the Consumer Financial Protection Bureau.  And with prior Obama era holdovers actually suing the Trump administration for replacing them in offices they felt 'entitled' to have, a judge laid down the law on Nov ...

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Sales at Amazon to start Cyber Monday already forecasting a massive record

Over the weekend we published news and data on how strong online commerce was for Black Friday as well as how brick and mortar sales were down for the third year in a row.  Now on Cyber Monday, which is predictably the year's largest day to shop online, early reports from Amazon show that this year will shatter all previous records for Cyber Monday sales. Preliminary reports for Black Friday and Thanksgivin ...

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Black Friday sales hit record highs, but primarily online as Brick and Mortar sales were muted

The shift from brick and mortar buying to online purchases may have finally crossed the Rubicon this year as early numbers show that this year's Black Friday shopping reached an all-time high, with record sales occurring online, and lower traffic volumes hitting commercial stores. Thanksgiving holiday sales in the US hit their highest  record, led by a solid demand for electronics and an accelerated expansi ...

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