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S&P downgrades Russia while keeping U.S. the same despite their insolvency

The U.S. ratings agencies have been under fire since the 2008 credit crisis when they were accused of covering up the true rating of toxic bonds and other assets during the housing bubble and subsequent sub-prime crash.  But the one time they actually tried to implement a ratings downgrade on the great and mighty U.S. government they were slapped with a lawsuit by the Department of Justice for their temerit ...

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FDIC closes bank in Illinois bringing the number of bank failures in 2015 to two

Highland Community Bank, located in Chicago, IL, was closed down by the FDIC on Friday, Jan. 23.  This bank failure is the second for the month of January and is the second bank closure for 2015. 1/23/2015 *** IL *** Chicago *** Highland Community Bank *** $5.8 million dollar estimated FDIC DIF cost. The total DIF for failed banks this week is $5.8 million. If you were banking at the Highland Community Bank ...

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Europe jumps on QE wagon with Euro falling to 12 year lows

Life is full of both irony and paradox, and today's move by the European Central Bank (ECB) to implement their own form of Quantitative Easing is a picture of both.  On Jan. 22 ECB Chief Mario Draghi announced a new money printing and bond buying program that will attempt to wrest the Eurozone from an ongoing depression that is mixed in with a deflationary spiral.  At the same time, the ECB has now set in m ...

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Gold hits $1300 and silver breaks through $18 as financial system begins to crack

In early morning trading in Asia, and after the U.S. markets had already closed, gold traded over the $1300 point for the first time in six months.  Additionally, the last 12 days of trading for the monetary metal are the biggest two week rise since 2011 when ironically, the Swiss chose to peg their currency to the Euro, and something they undid last week. Not to be outdone, silver prices have also continue ...

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First crack in the EU coming not from Greece, but from Iceland

After last week's Swiss currency bombshell, and the expectation of a massive program by the ECB to finally begin Quantitative Easing, speculation has begun among analysts on which country would find the new direction of the European Union unappetizing and decide to bail from the Eurozone before their own economy and currency becomes insolvent.  And with Greece being the lightening rod, having accumulated a ...

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FDIC closes bank in Florida to become first bank failure for 2015

First National Bank of Crestview, located in Crestview, FL, was closed down by the FDIC on Friday, Jan. 16.  This bank failure is the first for the month of January and is the first bank closure for 2015. 1/16/2015 *** FL *** Crestview *** First National Bank of Crestview *** $4.4 million dollar estimated FDIC DIF cost. The total DIF for failed banks this week is $4.4 million. If you were banking at the Fir ...

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Is Japan’s economy now to the point that they are preparing for war?

On Jan. 14, Prime Minister Shinzo Abe approved a new military budget that is the largest since the end of World War II when the nation was de-armed by the U.S. according to the treaty ending the war, and provisions from their new Constitution.  And with military expenditures expected to be around $42 billion, or 5 trillion yen, observers must ask the question of whether Japan is seeing the writing on the wa ...

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$200 billion in debt shale industry on the brink with first company filing for bankruptcy

The entire shale oil industry in America is a ponzi scheme of junk bonds, derivative bets, and a profit margin of tiny proportions.  And this falsely touted U.S. oil revolution now stands on the brink of collapse because of the massive decline in global oil prices.  Saddled with over $200 billion in debt, the first of many shale and energy companies and financiers teetering on bankruptcy has fired their fir ...

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10-year bond falls below 2%, appears close to major crash

Unlike the failing economies in Europe who saw their bond offerings skyrocket towards six, ten, twenty percent when they encountered a default event, the U.S. bond market is becoming a safe haven for investors in not just the U.S., but also around the world.  The best way to see how much real volume a bond has is to watch the interest rate rise or fall.  If more people are buying bonds, then the interest re ...

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The World’s Top Financial Advisors Warn: WORLD WAR 3 IS COMING

A number of top financial advisors, former government officials and others say that conditions are brewing globally that could very well culminate into a third world war. One such expert and global analyst is Paul Craig Roberts, a former assistant secretary of the Treasury under President Ronald Reagan, a former editor of The Wall Street Journal, listed by ‚ÄúWho‚Äôs Who in America‚ÄĚ as one of the 1,000 most inf ...

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New Zealand signs on to join Chinese World Bank alternative

On Jan. 5, New Zealand became the 24th nation to sign on and join as a founding member the Asian Infrastructure Investment Bank (AIIB) which will act as an alternative to the Western run World Bank. The AIIB is a brain child of the new Chinese expansion in Asia, and will act in a duplicate function to to the IMF and World Bank, but without the forced austerity and political measures demanded from the Wester ...

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National debt continues to soar well over $18 billion entering 2015

As we begin the new year of 2015 the national debt continues to soar despite a surface ending of Quantitative Easing by the Fed, and a mainstream belief of an economic recovery.  And as the last two years of Barack Obama's reign in the White House commences, the government's debt trend is well on its way to reaching $20 trillion before the next election cycle in 2016. As of the last day of 2014, total US de ...

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