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The last time the Fed raised rates, credit markets collapsed and the economy went into recession

As the entire global economy waits with baited breath for the Federal Reserve's rate announcement in a few hours, analysts are looking backward to what occurred in 2006 when the central bank last raised rates.  And interesting enough, the results were not good for anyone. Greenspan used rate hikes between 2004 until June of 2006 to qualify his 'irrational exuberance' mantra as the housing bubble would reach ...

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Are foreigners moving into the safety of the dollar, or are they dumping it?

Over the past four months, it is estimated that China alone has dumped over $300 billion in their dollar based reserves, signalling a trend in which the Far Eastern economy is now using their treasuries to protect their own slowing economic conditions.  And with Japan, Europe, and the emerging markets all showing signs of recession rather than growth, one has to ask if the dollar's strength is actually base ...

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Thomas Jefferson was right again as Germany takes over Greek infrastructure because of debt

Founding Father Thomas Jefferson once said, "If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their Fathers conquered."  And in a sad but interesting 21st century version of this p ...

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Oil falls below $35 a barrel while natural gas drops to lowest level since 2002

Energy prices are not simply barometers of inflation and deflation, but they are also red flags that point towards recession in ways few other indicators can.  And when you couple the current declines in oil and natural gas with highs in inventories worldwide, the result is that the global economy is slowing way down, and no amount of hyperbole from the mainstream media can change this. A few weeks ago, Dr. ...

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As China goes after SWIFT and London Gold Fix markets, Russia prepares to go after Brent and WTI

There is an old axiom that goes, if you can't beat em, join em.  And for Eastern powers such as China and Russia, they are taking this adage one step further by implementing a policy of, if you don't want to join em, create duplicate market mechanisms and replace em. Over the course of 2015 China has done just this with their new economic policies of bringing online a new SWIFT type system (CIPS), joining t ...

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Since the dollar left the gold standard in 1971, the U.S. has lost nearly 20% from the ranks of the middle class

The power to print money is the power to move wealth in whatever direction a bank, institution, or agency chooses.  By increasing a money supply, you move wealth upwards towards a small group of individuals that are financially and politically set to reap the benefits of asset price inflation.  And likewise, if you decrease that same supply of money, you tend to move wealth downward as asset prices sharply ...

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China dumps more dollars, holds reserves at lowest level in nearly three years

As China continues to prepare and expand the Yuan for full internationalization, there is less and less need for them to hold massive amounts of dollars as a reserve for their financial system.  And while the Chinese central bank has rightly chosen not to dump their treasuries onto the market in one massive sale, their slow dissolution of their dollar reserves has the country holding the fewest it has held ...

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Germany and the ECB turn Greece into new Weimar Republic

In the 1920's, the combination of Germany's defeat in World War I, and the impressed war reparations put upon them by the allied leaders, led the European power to enter a phase of hyper-inflation the world had rarely seen up until that time.  And the economic devastation was so great, it not only led to the rise of a brutal dictator, but is also used today as an adjective to describe monetary systems that ...

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Fed trapped on rate hike decision as U.S. is in recession no matter how you spin the numbers

On Dec. 5, two interesting data points that are indicating that the U.S. is now in a recession has the Federal Reserve trapped by their own rhetoric and deceptions.  First, exports by U.S. companies dropped to a three year low as they fell 'unexpectedly' due to a stronger dollar and less consumerism from country's already in their own economic downturns.  In addition, a new forecast by J.P. Morgan Chase put ...

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Not even a day after the IMF added the Yuan to the SDR, the world rushing to capitalize on it

On Nov. 30 the IMF fully announced that the Chinese Yuan would be accepted as a global currency within the banks Special Drawing Rights (SDR) basket of currencies, and with this move China is now an international player in the global monetary system.  And perhaps most interesting in the next stage of support towards the future of the dollar and its singular reserve currency status, is that countries and ban ...

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One of three major black swans could trigger dollar collapse

In this month's commentary from the Hat Trick Newsletter, Dr. Jim Willie reveals three potential black swans on the near horizon that could trigger a collapse of the dollar, and even the entire Western banking system. Nearly all three are tied in some fashion to the price of oil, and the derivatives that are tied to these contracts which are held by most of the major Western banks.  In addition, the decline ...

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Collusion and rate rigging by major banks the focal point of a new civil class action lawsuit

With the Department of Justice and U.S. regulators failing to stop fraud and corruption in the banking system following the 2008 Credit Crisis, it provided the banks a free ticket and 'get out jail free' card to continue their criminal activities unabated.  This of course led to more than a dozen instances of fraud and collusion in market mechanisms such as Forex, Libor, money laundering, robo-signing, the ...

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