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EU backtracks on forced bail-in laws and seeks to build a taxpayer funded derivatives clearing house

Last year the European Commission passed a law that forced all EU countries to enact their own bail-in programs in the event of bank insolvencies.  In fact, the EC was so adamant that taxpayers would no longer be allowed to assist in bailing out banks that the Commission took four governments to court leading up to the Dec. 31 deadline. But as with all ideologies, they are quickly discarded when a crisis ta ...

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Global debt now 225% greater than the world’s GDP

The IMF came out with a new report on Oct. 5 showing that the expansion of global debt has now reached 225% of the world's combined GDP.  In fact, the $152 trillion that encompasses general government obligations, household debt, and debt of non-financial firms, means that it would take confiscation of all the wealth generated throughout the world by individuals and businesses over the next 2.25 years just ...

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Foregoing justice to save Deutsche Bank? It’s always fun until someone is about to lose an eye

One day after hedge funds decided to pull out excess capital stored at Deutsche Bank, a late morning rumor involving the Department of Justice negotiating down a planned fine on the German bank boosted the stock markets and brought about a 'false calm' to Wall Street.  However, just as the Federal Reserve uses regional Presidents to go on stage and jawbone rhetoric that they never intend to fulfill, today's ...

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Wells Fargo didn’t just engage in identity theft, but they also broke the law in seizing autos from military personnel

It has not been a good month for Warren Buffet's pet financial institution Wells Fargo.  After first being fined by the Consumer Financial Protection Bureau (CFPB) $185 million for fraudulently creating close to two million unwanted accounts, they then saw their CEO John Stumpf crucified in hearings before both the House and the Senate where legislators called for his head out of either neglect, or outright ...

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Corrupt ECB President Mario Draghi cries foul when accused of being responsible for Deutsche Bank’s problems

The primary reason former Goldman Sachs banker Mario Draghi became the President of the European Central Bank was because he could be trusted to not only aid and abet fraud and corruption with the European banking system, but had already proven himself capable of manufacturing financial fraud himself.  Many people forget that he was the head of Goldman Sachs international division when the bank hid Greek de ...

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Imagine if Greece and Lehman had a love child… it would be named Germany

Just like in 2008, the mainstream business media is downplaying the Deutsche Bank crisis as if it were some minor bank problem simply waiting on a government bailout.  But in a new piece of news that came across the wire earlier today, DB is not the only financial institution in trouble within the German banking system, and is setting up the Eurozone's largest economy to have to look towards the ECB and IMF ...

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Deutsche Bank in the spotlight as Merkel states government will not provide a bail-out

Even before the DOJ issued a $14 billion fine against the German financial juggernaut known as Deutsche Bank, the institution was already on life support with an estimated $17.5 billion in assets, and a whopping $1.375 trillion in liabilities that do not include over $40 trillion in derivative exposure.  And now in Sept. 24, German Chancellor Angela Merkel announced that the bank cannot expect a taxpayer fu ...

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FDIC closes fifth bank of 2016 in the state of Arkansas

On Sept. 23, the FDIC closed down their fifth bank for 2016 as Allied Bank shuttered its doors.  This institution is the first bank failure for the month of September, and the first Arkansas bank closure since December of 2010. 9/23/2016 *** Arkansas *** Mulberry *** Allied Bank *** $6.9 million dollar estimated FDIC DIF cost. The total DIF for failed banks this week is $6.9 million. If you were banking at ...

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As the U.S. creates debt at new record levels, is there expectation of a global debt jubilee down the road?

In August the Obama administration borrowed a record $151 billion for a single month, setting for the course for 2016 to see an increase in the national debt of $1.36 trillion.  In fact, America's debt was recently reported to have crossed over $19.5 trillion, and has begun to accelerate higher ever since Congress removed the debt ceiling completely last October. And while the U.S. is not the only economy t ...

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Dallas police pension fund is a microcosm of why U.S. financial system doesn’t price things mark to market

Following the 2008 Credit Crisis, and even after passage of the Dodd-Frank Wall Street Reform Act, the Western financial systems have fought hard to ensure that their assets never have to be valued at mark to market.  Instead they are recognized as 'mark to maturity' or 'mark to model', making it seem as though these institutions are solvent when liquidation of their assets would cause them to actually be b ...

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Russia in talks with U.S. economic ally South Korea to establish free trade with the EEU

The world is rushing headlong into a myriad of new trade alliances, with much different protocols than that of the European Union.  For example, over in Asia China leads the Asean trade union along with the Shanghai Cooperation Organization (SCO), and in the Eurasian sphere Russia has put together a group of trade partners under the umbrella of the Eurasian Economic Union (EEU). And at the heart of these tr ...

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For the first time in 30 years, a Presidential candidate makes the Fed an issue

It has been about 30 years, and perhaps going back to the 1987 stock market crash since the Federal Reserve has been a point of debate during a Presidential race.  But in 2016, and at a time when the credibility of the central bank is being questioned from economists and even the business media, Donald Trump is sensing blood in the water and last week decided to put the Fed on trial for the American people ...

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