The Israel Deception

Is the return of Israel in the 20th century truly a work of God, or is it a result of a cosmic chess move to deceive the elect by the adversary?

Showing posts with label ecb. Show all posts
Showing posts with label ecb. Show all posts

Wednesday, June 7, 2017

Bail-ins are back in vogue as one insolvent Spanish bank takes over another while CoCo bond holders lose 97% of value

It has been four years since the concept of a bail-in, or the using of customer deposits and assets to recapitalize a bankrupt financial institution was first used in Cyprus, but on June 7 the second one in the Eurozone has now taken place as CoCo (Contingent Convertible) bondholders of the Spanish bank Banco Popular just received their own haircut of more than 97% as the bank was taken over by another well known insolvent institution.

Last night the European Central Bank's 'Single Resolution Mechanism' agreed to allow Santander to purchase Banco Popular for just one Euro, and will be allowed to draw funds from the ECB to help recapitalize its new asset.  And ironically this move will allow Senior debt holders to be protected on the positive side of the bailout, but leave CoCo bond holders with nearly nothing as their bonds are more than likely to be converted into bank shares at extremely discounted prices.


There is a rule in Financial Institutions that any bank that calls itself “popular” generally isn’t. This was proved last night. But, congratulations if you were a holder of Spain’s Banco Popular’s Senior Debt - they did a Zebedee “boing!” on the basis last night’s last minute Santander rescue makes the bonds money good. 
Bad news for the Equity and COCO AT1 holders - who have the distinction of holding the first major bank capital bonds to be bailed-in/wiped out under EU regulations. Banco Popular senior debt is 12 points higher this morning. 
The AT1 perps are trading at 2.6%, down 50 points!!,and even that price looks optimistic. Ahah. We’ve not seen crashes like that since 2008. 
The Single Resolution Board agreed the sale of Popular for One Euro to Santander. Santander will launch a Euro 7 bln rights issue to recapitalise the bank, but that’s not a massive ask for Popular’s business. At one time Pop was the top Spanish bank - a great SME platform, strong retail business and solid management. Now it’s just another name to be restructured and synergised (is that a word?) into the maw of Santander. - Zerohedge
Oh, and who was protected during this bail-in, and subsequent takeover of Banco Popular?  Germany of course, who holds the majority of senior debt positions on the Spanish banks, and who the ECB is really there to protect over all others in the biggest dirty little secret of the Eurozone project.

Sunday, February 19, 2017

Is Germany's gold repatriation in preparation for end of Euro as Chancellor Merkel questions solvency of the currency

Sometimes events that coincide with certain actions taken are little more than coincidental, or at most unforeseen consequences of those changes to the norm.  But for the most part in the political sphere, when actions are taken they are done with a purposeful agenda in mind, as validated by a quote made 80 years ago by then President Franklin Roosevelt.
“In politics, nothing happens by accident. If it happens, you can bet it was planned that way.”
Now with this in mind there were two key activities and comments that took place in Germany over the last seven days which can easily lead to a conclusion that the largest economy in the Eurozone is expecting a mighty sea change to Europe's current monetary system.

Germany has finally received half of the gold they initiated repatriation of

Over the past 10 days Germany finally received a large portion of the gold they demanded be returned from both the New York Fed, and from banks throughout Europe that have held their gold since the end of World War II.  And in an op-ed from CNBC a few days ago, the question as to why they wanted or needed this gold was asked.

An official announcement last week that the Bundesbank had pretty much repatriated half its gold reserves ahead of schedule has once again sent the rumor mill into overdrive. 
And the talk has now stepped up a notch with the Bundesbank confirming Thursday that it has already moved 583 tons of gold out of New York and Paris. Its plan to hold half its gold in Frankfurt is now three years ahead of schedule. 
Reporting the news, Reuters said that some argue the world's second-biggest bullion reserve "may be needed to back a new deutsche mark, should the euro zone break up." This seems pretty far-fetched, especially given that the Bretton Woods system of fixed exchange rates ended back in the 1970s. Could Berlin really be prepping for the fall of the euro? - CNBC
Yet speculation in the business media is not enough to validate why Germany is choosing to focus on their gold repatriation now after saying three years ago that it was no longer a concern.  That is until we look at comments made by Chancellor Angela Merkel on Feb. 18 where she finally admitted that there are serious problems with the Euro, and even went as far to blame Mario Draghi and his monetary policies done through the European Central Bank.
Two weeks ago, German finance minister Wolfgang Schauble confirmed Donald Trump's charge that the Euro is far "too low" for Germany, but said he is unable to do anything about it and instead blamed Mario Draghi. “The euro exchange rate is, strictly speaking, too low for the German economy’s competitive position,” he told Tagesspiegel on February 5. “When ECB chief Mario Draghi embarked on the expansive monetary policy, I told him he would drive up Germany’s export surplus . . . I promised then not to publicly criticise this [policy] course. But then I don’t want to be criticized for the consequences of this policy.” 
Then, on Saturday, his boss German Chancellor Angela Merkel echoed her finance minister, and also admitted that the euro is indeed "too low" for Germany, but once again made clear that Berlin had no power to address this "problem" because monetary policy was set by the independent European Central Bank. 
"We have at the moment in the euro zone of course a problem with the value of the euro," Merkel said in an unusual foray into foreign exchange rate policy. - Zerohedge
But the problems with the Euro currency go far beyond the ineptitude of the former Goldman Sachs banker who plays the role as Master of the Universe over Europe's monetary system.  This is because the rising tide of populism has become a real threat to the end of the Euro and even the European Union, with Italy, France, the Netherlands, and possibly even Greece all threatening to leave the currency and Union should elections pan out as currently predicted for these nation states.

Germany's biggest financial fear is inflation, and over the past several months their economy has been experiencing sharp rises in prices as debt, liquidity, and even banking problems hover like Black Swans over their, and the entire EU financial system.  And it is becoming apparent that the Germany government is taking no chances by accelerating their repatriation of their gold, because the writing appears more and more on the wall that gold will be the money of choice after the next crisis hits.

Friday, February 10, 2017

European Commission rushing to eliminate the Euro before the rest of the EU nations do

In the wake of declining economic conditions, and the fact that there is now a race against the clock for the European Commission to lock into place its ultimate authority before the entire European Union breaks apart from a populist revolt, the EC is rushing out to enact an new Action Plan that would eliminate physical euros from use in commerce.

This plan is also being forged as the European Central Bank runs out of options after driving interest rates into negative territory, and after having bought so many corporate and sovereign bonds that there is little more Mario Draghi can do to keep Europe's economy together.

Sweden
In the shadow of Donald Trump’s spree of controversial actions, the European commission has quietly launched the next offensive in the war on cash. These unelected bureaucrats have boldly asserted their intention to crack down on paper transactions across the E.U. and solidify a trend that has been gaining momentum for years. 
The financial uncertainty amplified by Brexit has incentivized governments throughout Europe to seize further control over their banking systems. France and Spain have already criminalized cash transactions above a certain limit, but now the commission has unilaterally established new regulations that will affect the entire union. The fear of physical money flowing out of the trade bloc has manifested a draconian response from the State. 
The European Action Plan doesn’t mention a specific dollar amount for restrictions, but as expected, their reasoning for the move is to thwart money laundering and the financing of terrorism. Border checks between countries have already been bolstered to help implement these new standards on hard assets. Although these end goals are plausible, there are other clear motivations for governments to target paper money that aren’t as noble. - The Anti-Media
Many analysts, including one of the original architects of the Euro, have stated that the flawed currency is quickly perishing, and that nations within the EU are more than likely going to return to their own sovereign currencies.  However this would mean that the EC, and well as the ECB, would lose tremendous power, and as a result they are pushing hard to eliminate physical cash in order to enact a purely digital system through which they can dominate both nations and people by utterly controlling Europe's monetary system.

As we have seen so far in India's failed experiment to eliminate cash and attempt to bring the country's 1.3 billion people into a completely digital system, much of their economy has broken down, and the people have rebelled in a myriad of ways.  And with more and more Europeans waking up and recognizing that the EU experiment has been a hindrance to freedom, prosperity, and cultural sovereignty, the race is on to see who will succeed first... mass exits, or ultimate control over the continents money and banking systems.

Saturday, August 13, 2016

Got gold? German bank to issue a .04% charge to depositor accounts starting in September

Beginning in September, the first German bank, Raiffeisen Gmund am Tegernsee, will start charging some deposit holders a fee of .04% for monies they hold in accounts within their institution.

Back in June both the European Central Bank (ECB), and shortly after the German Bund, went into negative interest rates, meaning buyers of securities within these two entities would end up receiving less money when their securities reaches maturity.

And as negative interest rates continue to implode the European and Japanese bond markets to the tune of over $14 trillion, banks are now starting the process to charge their own retail customers for holding their money in these banks.

Earlier this week, Raiffeisen Gmund am Tegernsee, a German cooperative savings bank in the Bavarian village of Gmund am Tegernsee, with a population 5,767, finally gave in to the ECB's monetary repression, and announced it’ll start charging retail customers to hold their cash. 
Starting September, for savings in excess of €100,000 euros, the community’s Raiffeisen bank will charge a 0.4% rate. That represents the first direct pass through of the current level of the ECB’s negative deposit rate on to retail depositors. 
“With our business clients there’s been a negative rate for quite some time, so why should it be any different for private individuals with big balances?,” Josef Paul, a board member of the bank, told Bloomberg by phone on Thursday. 
The good news is that “as it looks today, charges on deposits won’t be extended to customers with lower amounts” than 100,000 euros. However, that may (and likely will) change at any moment. - Zerohedge
With nary a paper investment available to provide investors and savers a return, or even protection for their money, the only alternative remaining to keep from losing everything to central bank and government policies is to move wealth into physical gold and silver.

Tuesday, July 12, 2016

European banking system ready to implode unless the ECB comes up with $150 billion or more in bailouts

Over the weekend, Europe’s most toxic and insolvent bank (Deutsche Bank) came out with an announcement that if the European Central Bank (ECB) didn’t come up with $150 billion or more in new funding to bailout the continent’s banking system, then it could potentially face an ‘accident’ similar to 2008’s ‘Lehman moment’.
And it is not the largest German bank that is the sole institution in need of recapitalization by the ECB.  In Italy, nearly all the major banks are on the cusp of insolvency, and appear now in the process of a government sponsored bailout coupled with a small customer bail-in.  Added to this, British banks are running into major problems over their bursting housing bubble, and while the UK no longer has the security of going to the ECB for emergency lending, they may receive it anyway since other EU banks hold long derivative positions on the island nation’s securities and could implode if Britain goes the way of default.
BANKERS-COPS

Monday, July 4, 2016

What if instead of buying bonds, the Fed and other central banks monetized gold?

The only individuals who actually believe that zero percent interest rates, massive money printing (quantitative easing), and bond buying have worked since the Credit Crisis of 2008 are the mainstream stock hawkers on CNBC, and the central banks who have placed their reputations on the line in support of their monetary policies.  But for economic and financial analysts who look at the real data, and not on broken models used to support their already believed failed premises, central bank interventions have harmed the overall economy far more than it has helped in the long run.

So following the Brexit vote, the potential breakup of the EU, and financial institutions in Italy and Germany teetering on collapse, it should come as no surprise that the Fed and the ECB are rushing in the discuss the creation of new and even bigger money printing schemes, and the same bond buying that accomplished little more than siphoning the wealth of their countries into the hands of the few.

But what if the Fed and ECB did something different this time?  Back in April, an analyst with the world's largest Bond insurer proposed that instead of buying bonds this next time, the central banks chose to buy and monetize gold, and at a price so high that it would actually be beneficial to sovereign nations who own the precious metal, and of course to the smart people who have been accumulating it over the past decade.

Bassman says that the Fed should "emulate a past success by making a public offer to purchase a significantly large quantity of gold bullion at a substantially greater price than today’s free-market level, perhaps $5,000 an ounce? It would be operationally simple as holders could transact directly at regional Federal offices or via authorized precious metal assayers." 
What would the outcome of such as "QE for the goldbugs" look like? His summary assessment: 
A massive Fed gold purchase program would differ from past efforts at monetary expansion. Via QE, the transmission mechanism was wholly contained within the financial system; fiat currency was used to buy fiat assets which then settled on bank balance sheets. Since QE is arcane to most people outside of Wall Street, and NIRP seems just bizarre to most non-academics, these policies have had little impact on inflationary expectations. Global consumers are more familiar with gold than the banking system, thus this avenue of monetary expansion might finally lift the anchor on inflationary expectations and their associated spending habits. 
The USD may initially weaken versus fiat currencies, but other central banks could soon buy gold as well, similar to the paths of QE and NIRP. The impactful twist of a gold purchase program is that it increases the price of a widely recognized “store of value,” a view little diminished despite the fact the U.S. relinquished the gold standard in 1971. This is a vivid contrast to the relatively invisible inflation of financial assets with its perverse side effect of widening the income gap. - Zerohedge
Besides allowing central banks with gold to receive funds to help payoff debt obligations, it would also allow countries who got rid of their gold decades before to start accumulating it once again, perhaps in preparation for a return to the gold standard in their currencies when the Great Reset eventually happens in the global monetary system.

Either way, all signals are pointing towards ownership of gold, both in the hands of individuals and in the hands of sovereign nations and central banks.  And the only obstacle will be how likely are central bankers to be willing to admit their failures in the current credit based Keynesian system, and if they are willing to really do everything that is necessary to escape the monetary crisis that is now upon us, rather than whitewashing it with more debt as they did in 2011.

Monday, April 4, 2016

IMF discusses creating a financial collapse event in Greece according to new Wikileaks report

In the continuing saga of Eurozone financial difficulties, Greece continues to be the linchpin for the economic Troika of the IMF, European Commission (EC), and European Central Bank (ECB) to hold the line against sovereign nations potentially defaulting on their debts and subsequently exiting from EU control.  And in a new Wikileaks data dump on April 2, it appears that members of the IMF were caught discussion the creation of a financial collapse event in Greece to force the government to succumb to the wills of the Troika.

WikiLeaks

Read more on this article here...

Friday, March 11, 2016

On same day European Central Bank fires massive stimulus to bail out banks, gold reaches highest price in 13 months

Make no mistake, yesterday's new policies from Mario Draghi and the European Central Bank (ECB) were a last ditch attempt to fight against deflation, and perform a backdoor bailout of several insolvent banks.  And what was most interesting was how the markets reacted in a way which shows that no one trusts central banks anymore to be competent to resolve economic problems, and this was seen inexplicably in the Euro currency and in gold prices.

In fact, going through the end of U.S. trading and into the first few hours of Asian trading, gold soared to its highest level in 13 months, hitting an intra-day high of $1282.

gold_euro_march_2016
Gold prices climbed to a 13-month high in dollar terms overnight ($1,282.51) after the increasingly adventurous, dare one say reckless, European Central Bank unleashed its latest ‘bazooka’ and initiated more interest-rate cuts, a significant extension in currency printing and bond purchases and also a potential subsidy to banks lending. - Goldcore

ECB head Mario Draghi validates that markets are tied to interventions, not fundamentals

On March 10 the European Central Bank (ECB) issued its highly anticipated policy announcement, and the shift from simply watching market action from the shadows is now over.  This is because ECB head Mario Draghi rocked the financial world with a Euro denominated bazooka, and proved once again that markets no longer function on fundamentals, but instead on credit based interventions.
Although not quite going full tilt into negative interest rates, the ECB did lower rates at its primary lending facility to zero from 0.05%, and dropped its deposit rate 10 bps to -0.40 which is an indication the central bank wants Europe’s financial institutions to borrow and spend rather than borrow and save.

Thursday, March 10, 2016

Got Karatbars? China sees 25 percent decline in exports and ECB goes to zero as Draghi fires new bazooka shot at economy

Five years after beginning the global push for low interest rates and massive stimulus, central banks continue to have to do even more just to sustain economies from falling back into the Great Recession.  And despite the fact that they also continue to jawbone the mantra that the economy is doing well, and in recovery, it is quite confusing that they seem to ignore the actual data, yet feel a requirement to intervene in greater and greater ways as if the global economy was on the precipice of collapse.

This is why two major data points this week should be warning signs as to the real state of the global economy, and why central banks have been casting their 'bread upon the waters' for potential policies like negative interest rates (NIRP) and the banning cash.  And while ECB head Mario Draghi today didn't quite enter full tilt into NIRP on their lending rate, they did remove the last remaining basis points (bps) and took it full down to zero.


(1) The interest rate on the main refinancing operations of the Eurosystem will be decreased by 5 basis points to 0.00%, starting from the operation to be settled on 16 March 2016.  
(2) The interest rate on the marginal lending facility will be decreased by 5 basis points to 0.25%, with effect from 16 March 2016.  
(3) The interest rate on the deposit facility will be decreased by 10 basis points to -0.40%, with effect from 16 March 2016.  
(4) The monthly purchases under the asset purchase programme will be expanded to €80 billion starting in April. - To the Death Media
Yet Europe's continued economic woes are not the only signals marking a return towards recession and a coming collapse event.  In China, where GDP growth declined to under 7% for the first time in several years, exports fell over 25% for the 4th quarter, showing that nations are finding it difficult to purchase goods for domestic retail, and validating the immense and historic drop in shipping via the Baltic Dry Index.



So with the global economy showing signs of a new recession, and central banks like the Fed, ECB, and Bank of Japan still implementing monetary policies that belie the propaganda of economic 'recovery', where does that leave you as an individual to protect yourself from markets that are sustained only with intervention, and currencies that are fighting one another to see who can devalue the most the fastest?

You can do so with the best performing asset of 2016... gold, and you can do this with the best company in the world that is built on helping you buy affordable gold no matter the swings in price.

Karatbars




Buying gold through Karatbars is one of the easiest things on the net.  In fact, the business model of Karatbars is to sell gold in affordable quantities, such as 1, 2.5, and 5 gram increments, and allow customers to get into the metal without having to shell out $1200+ for a single ounce coin.

And as added perks to signing up with Karatbars, as a customer or affiliate, Karatbars is working on a new e-wallet system that functions just like an offshore bank account, and is outside the authority of the banking system.  From there, you can take your fiat currency in any denomination... dollars, euros, yen, etc... and purchase physical gold which can either be delivered directly to you, or stored for free at one of Karatbar's vaults.

Additionally, any gold that you buy can easily be sold back to Karatbars, or any metals dealer, and if with Karatbars it is then exchanged for currency that is uploaded to you through a pre-loaded debit Mastercard which is connected directly to your e-wallet.  And as we know, MasterCard is recognized in nearly every country around the world, and usable in any currency that accepts it.

But perhaps the best feature with Karatbars is their affiliate program, where you can earn money off commissions from getting others to sign up and become a customer or affiliate.  Not only do you receive commissions from their purchasing of physical gold, but you also earn commissions from anyone who buys a commission package, with that money going directly into your debit MasterCard when you have enough units to cycle.

Imagine the ability to earn the money in which to buy your gold savings simply by purchasing a commission affiliate package one time, and then getting others to sign up and do the same thing.

How many businesses or entrepreneurs can build an infinite business with spending less than $400 of their own money?  And there is never a mandatory requirement to buy beyond what you desire, on your own schedule.  And there is nothing to lose, because you're using money (paper dollars) to buy gold (physical money) and in the end you don't lose a thing.



The global financial system, along with dozens of respected economists, are telling us that now is the time for the end of our current form of money, and the beginning of the transition into a new monetary system that is expected to be backed by gold.  And with banks, governments, and even Harvard professors mandating that central banks have no choice but to eliminate cash from usage by the people to stave off collapse, will you wait until it is too late to make a decision on how you will protect your wealth, and be able to function within the coming new monetary system?

To learn more about Karatbars, you can contact the individual who sent you this article, and click on their referral link to open a free account and begin buying, or building your own gold savings or business with the company of the future.

Monday, March 7, 2016

German banking association recommending banks stockpile cash for loans to stimulate economy

On March 4, the Bavarian Banking Association recommended to its member banks that they take out all their deposits being held with the European Central Bank (ECB) and stockpile the cash for use as loans in order to stimulate the economy.  This recommendation comes as the ECB prepares for negative interest rates, and the charging of interest to banks under their authority for sequestering cash in their facility.
Like with the Federal Reserve in the U.S., ever since the ECB began its own form of quantitative easing and zero interest rates, banks within the Eurozone have simply borrowed cheap money from the central bank and either bought government bonds or parked it with the ECB where they received a modicum of interest.  This has resulted in a sharp slowdown in the velocity of money, and a massive decrease in lending to businesses and the general economy.

Wednesday, February 10, 2016

Peter Schiff: As JP Morgan predicts severe negative rates for all central banks, gold will profit extremely from it

On Feb. 10, JP Morgan forecasted that the world's primary central banks... ie... Bank of Japan (BOJ), European Central Bank (ECB), and the Federal Reserve will not only carry interest rates into negative territory, but move them down to extreme levels of between one and five percent.

Since the beginning of the year, the BOJ has already pushed interest rates negative and individual nations within the Eurozone have done so as well.  But more importantly, banks have not taken well to these moves and several are experiencing liquidity and credit problems that place their solvency at risk.
According to a just released report by JPMorgan, the answer is even scarier. In the analysis published late on Tuesday by JPM's Malcolm Barr and Bruce Kasman, negative rates could go far lower than not only prevailing negative rates, but well below gold storage costs as well. 
JPM justifies this by suggesting that the solution to a NIRP world where bank net interest margins are crushed by subzero rates, is a tiered system as already deployed by the Bank of Japan and in some places of Europe, whereby only a portion of reserves are subjected to negative rates. 
Which leads to the shocker: JPM estimates that if the ECB just focused on reserves equivalent to 2% of gross domestic product it could slice the rate it charges on bank deposits to -4.5%. Alternatively, if the ECB were to concentrate on 25% of reserves, it would be able to cut as low as -4.64%.  That compares with minus 0.3% today and the minus 0.7% JPMorgan says it could reach by the middle of this year as reported yesterday. 
In Japan, JPM calculates that the BOJ could go as low as -3.45% while Sweden’s is likely -3.27%. 
Finally, if and when the Fed joins the monetary twilight race, it could cut to -1.3% and the Bank of England to -2.69%. - Zerohedge
In response to these moves, the one true safe haven will be physical metals, and as Peter Schiff reported in a new interview this morning, negative rates will be as 'blood in the water' for gold.



Heads of European central banks call for a singular Eurozone finance ministry

It is a given that once power is achieved in a particular sphere, those in authority are never content to remain satisfied with what they rule over.  In fact, conquest has always been the underlying motivation for leaders since the beginning of time.
And while having a joint coalition of nations within the European continent is a marvel unto itself, this grand scheme is evolving into a technocratic takeover, where removal of national sovereignty is the ultimate goal, and can be seen in examples like on Feb. 8 where two of the continents leading central bankers are now calling for a singular Eurozone finance ministry to oversee and control the economies and financial systems of all member nations.

Thursday, November 12, 2015

EU unofficially becomes a political union after threatening to cut off funds to Portugal

Earlier this year, the European Union’s economic arm fought tooth and nail with Greece over their massive amounts of sovereign debt that hung in the balance between default, and restructure.  In the end, the Troika won out over the Syriza government, and money began to flow back in only after austerity measures were increased against the Greek people.
And a little less than six months later, the EU is once again attempting to use their power on a sovereign country to force not only monetary policies on the people of Portugal, but perhaps now a political one as well as on Nov. 10, the European Central Bank threatened to turn off the Euro spigot to the Southern European country for their temerity in voting out an EU friendly government and replacing it with a Marxist one.

Tuesday, October 27, 2015

With a Spanish city set to create parallel currency, is the EU on the brink of losing monetary control?

The European Union (EU) was originally setup to be a trade union that expanded decades later into a monetary union.  But with the European Central Bank (ECB) at the heart of financial destruction created in nations in Southern Europe, several peoples within these insolvent countries are now fighting back with the use or establishment of alternate forms of currency.
On Oct. 24, an official in the city of Barcelona announced that the municipality is planning to engineer a parallel currency to the Euro, and forge ahead with a localized form of money that goes far beyond the black market currencies now being seen in places like Greece and Argentina.

Saturday, October 24, 2015

Wonder why stock markets soared after Mario Draghi’s speech on Thursday?

It is a given that the computer driven algo’s always run wild on days in which central bank leaders speak, but what was most important about ECB head Mario Daghi’s speech on Oct. 22 was not necessarily what he actually said, but what he implied for new policies going forward.
During his press conference, Draghi announced that interest rates within the Eurozonewould remain at zero, with the potential for more quantitative easing coming on the horizon should deflation and economic conditions merit it.  However, since the European Central Bank could not even spend all of its proposed one trillion euros through the buying of toxic bond debt from the banks, the question arises on what exactly will the ECB use its money printing mechanisms to prop up.
The answer may lie in following the same course that the Federal Reserve and Bank of Japan did… buying stocks and propping up the equity markets.

Tuesday, August 18, 2015

Slowly but surely, Goldman Sachs is taking over the Western banking system

It is fascinating to think that just seven years ago, Goldman Sachs was on the cusp of bankruptcy.  However, thanks to a former CEO of Goldman (Hank Paulson) being in place as the Secretary of the Treasury at the time of the financial meltdown, the bank to the elite was saved when taxpayers bailed out AIG, and allowed Goldman to collect 100% on their worthless securities.
And since this recovery by Goldman on Wall Street, the bank has only gotten stronger, with several more former bankers having moved into key positions in the government and the nation’s central bank.  And with the Fed’s newest President being elected on Aug. 17, there are now three former Goldman bankers running America’s central bank.

Thursday, July 2, 2015

What a novel concept… British legislators call for cancelling Greek debt by confiscating money from banks

As Greece races towards tomorrow’s deadline, several legislators within the British government are offering an entirely different solution to the problem.  On June 29, 25 MP’s from outside the leading conservative party have suggested that the Eurozone cancel the $380 billion Greece owes the IMF and Troika, and instead have the creditors seize the money from the institutions who actually profited from the Greek crisis.
The banks.
 

Friday, June 26, 2015

Was yesterday’s capitulation to the EU a stalling effort by Tsipris?

In the span of just a week, the leader of Greece and the ruling Syriza party made two very opposite and polar decisions that has the world wondering what the real game being played in Greece is all about.  On Friday, Prime Minister Alexis Tsipris went to Russia andsigned a pipeline agreement with President Putin at the St. Petersburg Economic Forum, signalling that the Southern European country was putting its chips in on the side of the BRICS.  However, in a shocking move just three days later, the Prime Minister stunned his own party by accepting Troika demands and gave into the Euro bank’s position for austerity and reform.
Yet while some may call this being schizophrenic, one has to wonder if there is a third intention in play, and that is one of stalling for time.
Last night from Twitter:
Any agreement today by Greece is a stall tactic as Drachma backup infrastructure is not yet complete. Yuan swap facilities will fix that. -Guerrilla Economist, @Theroguemoney


Read more on this article here...

Tuesday, June 10, 2014

ECB to kill savers with new Negative Interest Rate Policy

After two years of continuous jawboning, the head of the European Central Bank (ECB) finally acted and laid down a new policy that will destroy savers and anyone who wishes to protect their cash in the fiat currency system.

On June 5, Mario Draghi lowered the interest rate for banks to a negative interest rate in an attempt to stave off the massive deflation that was creeping into the EU and in essence, kick the can down a pathway in which there is no return.



Read more on this article here...