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Libya sues Goldman Sachs for using hookers as bribes to mislead the sovereign fund in 2008

Bankers involved with hookers, drugs, and bribes?  Nah, that would never happen.. but the sovereign investment fund for Libya's national government begs to differ as they announced on June 14 that it indeed happened, and they are taking the Goldman Sachs to court for using these types of bribes to secure risky contracts that were lost during the fallout of the 2008 Credit Crash. Libya's national investment ...

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Bitcoin jumps $50 overnight, reaches two year high against the dollar

2016 is quickly becoming the year of the alternative or non-dollar forms of money.  Since January, gold and silver have outperformed every other currency, and are in fact two (gold being number one) of the best performing assets for the year. But there is another form of money that has risen in value just as much as gold and silver, but is hardly being mentioned at all in the mainstream.  And with a sudden ...

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Former Fed President announces at conference that all his rich friends are hoarding cash

Thanks to the power of the internet and youtube, virtually anything post-1990 can be found in some capacity within the ether.  And for those who did just a small amount of digging, they know that the last two Federal Reserve Chairman admitted they were clueless regarding the housing bubble and stock markets crashes of 2007 and 08. Yet one regional Fed President did forecast the collapse, but was regularly i ...

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Western debt based economics: It now takes $10 of debt to create $1 of GDP growth

When central banks embark on fiscally irresponsible monetary policies, they tend to create anomalies that lead to economic crashes, bubbles, and as we are seeing in places like Greece and Japan, eternal deflationary growth. But the United States for the time being is different, and this is because they still remain the sole keeper of the global reserve currency.  And this means that they can print endless m ...

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Investors pull out nearly $100 billion from Britain ahead of Brexit vote

An interesting thing happened along the way of Britain's drive to leave the European Union... and that is that the fears are not being felt by the people who currently are over 50% of the way towards a Brexit, but instead from the establishment who desperately needs the vote to go in favor of remaining under the thumb of Brussels to protect their own fiefdoms. And yet, it appears that the elite may be seein ...

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Quarterly sales of silver Canadian Maple Leafs hit new record

Investors of precious metals can thank the Fed's jawboning, and the bullion bank's manipulation of both gold and silver, to allow for perhaps the greatest bargain ever in a discounted price measured for inflation.  And because of this, the Canadian Mint reported on June 7 that more silver Maple Leaf coins were sold in the first quarter than at any time in their history. Sales of Canadian bullion hit a new r ...

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Horrific jobs report appears to be the trigger for recession outlook from financial economists

Just a day after the worst jobs report since 2010 was published, financial economists from both J.P. Morgan and Deutsche Bank have put recession outlook on high watch. Recession models followed by both institutions show an economic recession for the U.S. economy crossing the danger point, and where these indicators have successfully forecast recessions for the last 45 years. This is what JPM said: "This mor ...

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June Fed rate hike chances crushed as new jobs collapse and uncounted non-workers soar

Over the past few weeks we have spoken alot on the Fed's use of public announcements by its cadre of regional Fed Presidents to try to sway markets into believing that the central bank was sure to hike interest rates in either June or July.  And of course, inside most of this rhetoric is the single key component that is normally ignored by the computer algorithms that make up 75% of all trades, and that bei ...

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Payday loans: American workers can now owe their souls to the company store

A classic American song that originated in 1946, but was made famous by Tennessee Ernie Ford nine years later, speaks on American workers in the mining industry who were forced to use their wages in the mining company's store, leaving them eternally in debt and eternally slaves to their jobs.  And while this song's origins come from a real time in America's history, as usual that same history is coming back ...

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As the Fed jawbones recovery and normalizing interest rates, debt defaults at highest levels since December

Nearly all alternative media economists have gone public to state that it is both unlikely, and irrational for the Federal Reserve to raise interest rates now, and in the near future.  And this despite the central bank's recent jawboning on mainstream television of a potential rate hike as early as next month. But the problem is that the Fed and other central banks have waited too long, and gone too far in ...

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World’s largest banking center isn’t in the U.S. or Europe, but in China

A new report came out on the recent rankings from S&P Global Market Intelligence that shows that China not only has the world's largest individual bank, but with four of the top 10 financial institutions on the list they are also the world's largest banking center. The U.S. came in with only two banks in the top 10. What is also interesting is that China is considered the world's largest production econ ...

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Switzerland just weeks away from a vote to bring about the ultimate in state welfare

Democratic candidate Bernie Sanders loves to push nations like Sweden and Denmark as being the ideal models of socialist economies.  Of course, he refuses to acknowledge places like Venezuela, which are now in the final bloody days of their own Socialist experiment. And while a modicum of safety net benefits are necessary for any society to protect those who either cannot work, or are in transition between ...

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