You Are Here: Home » News » Banking Cartel

Ireland joins the European bandwagon as they begin to charge customers for holding money in banks

The repercussions of Europe's negative interest rates policies are starting to come fast and furious as now Ireland has joined Germany and Austria in having a bank start to charge their own depositors for holding money in the financial institution. On Aug. 19 it was reported that the Bank of Ireland will soon be charging business account holders a .01% (fee) on those who hold more than¬†‚ā¨10 million in deposi ...

Read more

Pension funds now going full retard as they begin to sell options on equity holdings to earn yield

At the core of the nation's colossal debt bubble is of course the Federal Reserve, and their zero/negative interest rate and money printing policies that have destroyed many sectors in the overall economy. And one of the biggest victims of the Fed's capital destruction is without a doubt the multitude of local, state, federal, and private pension funds that require high returns on their investments, and whi ...

Read more

FDIC closes bank in Georgia, first one in over three months

On Aug. 19, the FDIC closed down their fourth bank for 2016 as The Woodbury Banking Company  shuttered its doors.  This institution is the first bank failure in over three months, with First Cornerstone Bank being closed down by regulators in on May 6. This bank failure is also the first for the month of August, and brings the overall number of bank closures in 2016 to 4. 8/19/2016 *** Georgia *** Woodbury ...

Read more

Greek government implements new capital controls to force registration of all assets including cash

On Aug. 14, the Greek Finance Ministry ordered the implementation of perhaps the most stringent capital controls in decades against their own people by ordering citizens to declare all assets they own, including cash down to the last euro. This program is the first step in a larger scheme set to commence in February of 2017 where the government is able to track the wealth of every individual, and if necessa ...

Read more

What if a central bank initiated a bond buying program and no one wanted to sell?

With central banks having the reputation now of being the buyer of ALL RESORTS, what might be the consequences if they held a bond auction and no one came to sell? That is what happened last night to the Bank of England who had recently jumped on the ECB and BOJ bandwagons to buy back outstanding bonds in the hopes of pumping more liquidity into the markets. On the first day of the Bank of England's resumpt ...

Read more

With equity markets back at all time highs, top investors continue to and say sell stocks

When Bank of America this weekend announced that central banks are involved in 45% of all global bond purchases, it was just another nail in the argument that the entire financial system is simply a debt driven bubble fueled by central bank money printing.  And besides bonds, we already know in most economies that the central banks are the catalyst for most equity buying as well. So when a large number of h ...

Read more

Bitcoin exchange to be like banks and bail-in customers for losses incurred by hack

Just when you thought bail-ins were mechanisms only used by governments and the banking industry, on Aug. 5 the Bitcoin Exchange known as Bitfinex announced that they were going to implement a 36% confiscation of their customer's Bitcoin holdings in light of a $70 million capital loss due to a hack from last week. Bitfinex is a Hong Kong based Bitcoin Exchange that functions in similar ways as the now defun ...

Read more

U.S. now in a permanent environment of false data reporting and credit expansion to keep from collapsing

Even the infamous John Maynard Keynes predicted that too much reliance upon credit expansion would eventually lead to wealth inequality and a distortion of the economy.  And we see this in his writings where he advocated that government intervention using additional stimulus for for a short duration of time, and only until the economy recovered itself, and began a new move into growth. But unfortunately hum ...

Read more

European Commission seeks to dissuade Bitcoin users by putting them in a new database

With Bitcoin already having survived numerous attempts to kill the crypto-currency by the establishment, and through failures from global exchanges such as Mt. Gox and Bitfinex, the future of the digital de-centralized money continues to look steady as it appears ready to breakout even more in light of the financial situations occurring in Europe, the U.S., and Japan. And because of this, the European Commi ...

Read more

China looks to crack the global reserve currency by announcing SDR issuance in August

For the past 43 years the world has had to use the dollar as the primary medium of exchange when conducting international trade.  In fact, this ability to control the global reserve currency has been the key catalyst in supporting U.S. hegemony around the globe. But over the past three years China has been slowly usurping market share of the dollar through its programs of direct bi-lateral trade and the dup ...

Read more

Central banks keeping the economy on life support with over $1 trillion printed every six months

Has anyone actually wondered why the stock markets worldwide shot back up to new all-time highs following the Brexit vote when they were in a slow decline prior to this historic event?  The answer of course is an incredible amount of newly money printing by global central banks, which bought stocks and indices by the boatload during the summer's low volume period. Quantitative Easing by the Fed was supposed ...

Read more

Miami court rules in favor of Bitcoin seller in criminal case because judge rejected the crypto-currency as being money

On July 26, a Miami, Fl court ruled in favor of a defendant who was charged with money laundering and 'illegally' selling Bitcoin. Prosecutors in Dade County had attempted to charge Michell Espinoza with money laundering for selling his Bitcoin currency to another party, alleging that to do so outside the financial and regulatory system was in violation of Federal statues.  However, the judge ruled against ...

Read more

© 2012 Secrets of the Fed