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Yes Virginia, contrary to ECB rhetoric there will be a Greek depositor bail-in

After Greece changed course back in July and accepted the Troika's demands for austerity measures to receive a new bail-out, the assumption was that only bond holders would be subject to any sort of risk that might see their securities decline, or perhaps even fall to zero.  Yet as one knows in the financial industry, and in the case of central bank policies, you can never fall asleep believing that your mo ...

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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 ...

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Eight years later, the Housing bubble morphs into Rent bubble

Prior to the bursting of the artificially created Housing bubble in 2007, home prices had skyrocketed due to cheap money, low interest rates, and government policies that mandated banks lend to people who couldn't afford it.  And with many families remaining cautious or unable to purchase a home after millions of Americans had lost theirs during the run of foreclosures following 2008, renting in the U.S. ha ...

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As monetary systems begin to falter, alternate currencies are rising to support the people

For decades alternative currencies have been a staple in many localized economies, even in such places as Detroit, MI where a local scrip known as the Detroit Cheers was prevalent during both the Great Depression, and again after the 2008 Credit Crisis.  And as the world rushes headlong towards the next great monetary crisis, the use of alternative currencies are once again coming to the forefront as centra ...

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Depostors bank account’s are now eligible to pay Goldman Sach’s bonuses when the bail-in comes

Back in 2008, the public went wild over the government's use of taxpayer money to bail out insolvent banks who had speculated and lost during the Housing Bubble bull market.  But even this was not as critical as the rage the American people felt when these same banks gave their executives massive bonuses based on capital received from that bail out. And now seven years later, one of the major culprits who s ...

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China’s devaluation just the start as countries rev up for next leg of currency war

The currency war in the global financial system has been going on at varying strengths since 2009, and in full gear since 2013 thanks to Japan and Abenomics.  However, with the world's most important industrial economy showing signs of a severe crash, or at the very least an acute slowdown, China's new devaluation policy is expected to ratchet up the currency wars to a whole new level. For years the Chinese ...

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While the Fed tells Americans one thing, two major banks purchase tons of physical gold

There is a reason why CNBC has lost over 40% of their viewers after the 2008 Credit Crisis, and it is primarily because people have come to realize that most business networks are simply shills for the elite, and promoters of the Federal Reserve's party line.  And to validate this, all one has to do is look at a recent article from the Wall Street Journal where a pundit sought to equate gold to that of a pe ...

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BRICS bank’s purpose is banking for the people, not for oligarchs

A couple weeks ago, Russia Today did an interview with Dr. Sreeram Chaulia, who is the Executive Director of the Centre for Global Governance and Policy (CGGP) at the Jindal School of International Affairs on the significance and mission of the new BRICS bank and how it will be completely different than nearly all global financial institutions currently functioning in the West. During his interview, Dr. Cha ...

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Welcome to 2008: Dow drops more than 1000 points from its all-time highs

Early this morning, the Dow reached an interesting number as the market has now fallen over 1000 points from its all-time highs reached in May of this year.  And while this decline represents only a 5% drop in the market over the past three months, it is eerily similar to what took place just eight years ago when a 1000 point drop from the previous all-time high led to a stock market crash the very next yea ...

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Australia begins looking at Bitcoin to become equivalent to paper money

As the world has gotten a front and center seat to the decline and collapse of the Greek financial system, one nation is seeking to change the way their economy views money.  And in a move that would test the legitimacy of digital currencies as a recognized medium for trade and commerce, Australia on Aug. 4 is pursuing the option of making Bitcoin on par with theirs and other currencies in both taxation and ...

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The next step in China determining gold prices initiated as LME accepts Yuan in contract purchases

For owners of physical gold who have been frustrated with the manipulation and falling prices over the past four years, the day of reckoning is slowly coming upon them.  Beginning a few months ago when the London Gold Fix committee invited China to be a member of the daily price fix mechanism, the next step in having price determination move from the West over to Shanghai and Hong Kong is underway as on Jul ...

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Greek Syriza members were ready to jail the bankers until P.M. Tsipris surrendered to the E.U.

In the Republican Party, not everyone follows blindly to the will and policies of the Neo-Con leadership.  All one has to do is look at the Tea Party, Ron Paul, and now, Presidential candidate Donald Trump to see that agendas within American politics are not always cut and dry.  And the same is true for political parties in other countries as even Greece's ruling party Syriza has their own dissension occurr ...

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