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German finance minister Schauble seeks to save EU by demanding Italy and Greece continue austerity or leave EU

Now that the people of Italy have spoken through their rejection of a national referendum to restructure the government on Monday, the rest of the European Union is on high alert for what could be the next Exit event from the coalition.  And while it appears that the European Central Bank (ECB) earlier today followed the Fed's lead in bailing out and backstopping negative markets as was done following the e ...

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Italy votes no: Referendum vote leads to Renzi resignation and the Eurozone on edge regarding the future of the coalition

Just as June 23 went down in history as a red letter day for 2017, so too is Dec. 4 a pivot point for both Italy and the European Union.  This is because the people of the Southern European nation chose to vote against a constitutional restructuring of their government, and it now starts in motion several new events that could lead to a banking collapse, a discarding of the Euro currency, and the beginning ...

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Deutsche Bank settles on gold manipulation case which now opens door for investors to sue other banks for fraud

Despite thousands of hours of investigations, and a mountain of evidence compiled by organizations such as GATA, one major bullion bank has finally been convicted of rigging the precious metal markets. On Dec. 2, Germany's Deutsche Bank finally settled on a $60 million agreement to pay investors financially wronged from their actions in manipulating gold prices in the commodity markets.  This settlement com ...

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It’s beginning to look alot like 2007 as subprime loan defaults, massive consumer debt, and housing sales mirror start of bubble crash

Over the past seven to eight years, interest rates have been a major factor in allowing consumers, investors, and the government to expand credit to historic levels.  In fact, the government had not been above 100% of debt to GDP since the credit expansion that was needed to fight during World War II. But the problem with debt is that a day of reckoning always comes due at some point.  And just like it did ...

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UK’s ‘Warren Buffet’ predicts the end of the euro currency

Billionaire Jim Mellon is considered by some to be the UK's 'Warren Buffet' of finance and investing, and has a pretty good track record of prognostications for economic events.  In 2008 he correctly forecast the Great Recession, and earlier this year he backed voters (Although he thought it would fail) in choosing a YES vote for Britain to leave the Eurozone. And now on Nov. 28 Mellon is forecasting the en ...

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French bank believes dollar will be at par with Euro soon as conversion hits 105 handle on Nov. 23

On Nov. 22, France's third largest bank Societe Generale announced that they believe the dollar will soon be at par with the Euro currency, and quite possibly as early as April of 2017 when French elections are scheduled to take place. Over the past two and a half years the Euro has fallen from 1.38 to the dollar back in April of 2014 to an inter-day low below 1.05 in early 2015.  It then rebounded back ove ...

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Like in the EU, U.S. tax authorities now going after Bitcoin users to track their transactions

As most users of the world's biggest crypto-currency know, anonymity and de-centralization from government controls are two of the most important fundamentals that Bitcoin provides to individuals.  And in recent months around the world these protections having been at the center of much legislative discussion, especially in the wake of a growing loss of confidence in fiat currencies, and the inevitable comi ...

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EU drafts new law allowing for banks to suspend payments to creditors in the event of a crisis

When you see governments, regulators, or central banks institute new financial laws on very short notice then it should come as a warning sign to everyone that a financial or monetary crisis is very real, and very near. Last year the European Commission passed a law forcing every Eurozone nation to have to pass their own sovereign bail-in laws before December 31, and even threatened multiple countries who w ...

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Singapore and Sweden the next to countries looking to replace cash with a digital or blockchain currency

If the events taking place right now in India are any indication, then the rush by central banks and financial institutions to get rid of physical cash and move banking into purely digital environments are not too far away.  And just this week alone two countries, Sweden and Singapore, are starting the process to implement either a digital, or blockchain based currency. Sweden: The Central Bank of Sweden is ...

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In the aftermath of the Wells Fargo fraud the bank has lost 40-50% of new business in accounts and credit cards applications

Despite the fact that the now former CEO of Wells Fargo tried to tell Congress and the business media that what Wells Fargo did to its own customers by opening millions of accounts and credit cards without their knowledge was just a simple 'mistake', the revelations of their fraud are now being seen in new customer applications. In a report by Wells Fargo on Nov. 17 for the month of September, the nation's ...

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The real Asian pivot: Russia and China see potential in the ending of sanctions and U.S. joining the AIIB

As President Barack Obama gets ready to go out on his final foreign 'road show' this week, the world waits in anticipation to see if President-Elect Donald Trump could not only heal the wounds of disassociation that America has suffered over the past eight years under Obama's foreign policies, but if the new Commander in Chief is ready and willing to be an equal partner in forging a new financial and econom ...

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Market chaos since Trump victory was already set in stone before election

Several alternative economists and financial analysts rightly predicted that the central banks and establishment financiers were holding off a financial collapse until after the election as a way to try to ensure Hillary Clinton won the Presidency.  And judging from the market turmoil occurring over the past two days since Donald Trump shocked the world, the dyke holding back the chaos appears now to have b ...

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