You Are Here: Home » News » Economic Collapse (Page 2)

Greece: Ditch the EU and they can now join the BRICS

As Greece mulls over the results from their most recent debt meeting with the Troika, the IMF announced that they already have plans in place for when Greece inevitably defaults.  However, with the groups taking a pause after another weekend of financial stalemate, a shocking bit of news appeared on May 11 that not only added fuel to the fire, but placed the European Union back on its heels. Because that ex ...

Read more

Americans repatriating and renouncing citizenship continues at record levels in 2015

In 2014, a record number of Americans renounced their citizenship with an even greater number repatriating to live outside the United States.  And this number is not slowing down as through the first quarter of 2015, a record 1335 Americans have discharged their allegiance to the U.S., which at current levels, would make 2015 an even greater year than last by more than 50%. A record number of Americans gave ...

Read more

FDIC closes first U.S. bank in nearly 3 months bringing total number in 2015 to 5

Edgebrook Bank, located in Chicago, IL, was closed down by the FDIC on Friday, May 8.  This bank failure is the first one for the month of May and is the fifth overall bank closure for 2015. 5/8/2015 *** Illinois *** Chicago *** Edgebrook Bank *** $16.8 million dollar estimated FDIC DIF cost. The total DIF for failed banks this week is $16.8 million. If you were banking at Edgebrook Bank in Chicago, IL, you ...

Read more

Unemplyment rate falls to 5.4% as economy creates 437,000 part time jobs, and ignores 93 million uncounted unemployed

The government propaganda machine was in full swing on May 8 as the Bureau of Labor Statistics (BLS) announced their newest job numbers report that showed a decline in the unemployment rate down to 5.4%.  In fact, the job numbers report missed analyst expectations by 5,000 with a print of 223,000 new jobs compared to a forecast of 228,000, with the most important indicator showing that of these new jobs cre ...

Read more

Japan becomes first nation to register a national debt in the quadrillions

On May 8, Japan's Ministry of Finance provided an update and breakdown of the country's national debt through the end of March 2015.  And thanks to the accelerated rate in which the current Prime Minister Shinzo Abe has printed yen through quantitative easing, that debt has now reached an all-time high and the first in the world to cross over a quadrillion. Japan's stagnation has lasted now for more than 20 ...

Read more

Russia, China, India, Brazil and South Africa (BRICS) Announce Their Own International Reserve Bank

Russia and China are once again saying, ‚ÄúTake that, America.‚ÄĚ VIA| President Vladimir Putin approved a new $100 billion reserve fund over the weekend that will specifically aid the BRICS nations: Brazil, Russia, India China and South Africa. It‚Äôs another step by the BRICS to build an alternative so they don‚Äôt have to go to the United States or the International Monetary Fund for any financial help. BRICS le ...

Read more

J.P. Morgan accumulating hundreds of millions of ounces while paper market price remains low

As we have noted many times in our writing, if you want to become rich, watch and do that the rich do when it comes to investments.  And despite the fact that banks like J.P. Morgan have used the paper Comex market to short the spot price and protect their paper derivative positions for several years now, one thing is for certain, they are not discounting ownership of physical silver and in fact, have accum ...

Read more

Forced Obamacare spending by consumers saves U.S. GDP from a negative Q1

On April 29, the Bureau of Economic Analysis issued the 1st quarter results for GDP growth in the U.S. economy.  And unlike faulty predictions made over the past three months by analysts in the mainstream, who as a while had consensus forecasts of between 1.8 and 3%, the final tally came out as .02%, and just barely above negative growth and recessionary indicators. But what made this number completely skew ...

Read more

Bank of America being investigated by the SEC for a form of re-hypothication on their customsers

The MF Global bankruptcy from a few years ago revealed the little known truth about Wall Street today, which is that brokers can and do use customer funds and accounts for their own profit to the detriment of their clients.  And while a futures trading firm is a little bit different than a standard broker like Bank of America, the SEC does not take putting customer accounts at risk lightly and investigating ...

Read more

Greek government now facing municipal rebellion over new bank decree

When the Greek government chose two weeks ago to institute a decree calling for all non-working cash to be transferred immediately to the central bank, local municipalities protested and prepared for a confrontation.  That rebellion has now come about as on April 27, the Central Union of Municipalities and Communities of Greece ("KEDE") announced they were unilaterally rejecting the legislature's decree and ...

Read more

Ultimate consequence of education bubble taking shape as LSU prepares for bankruptcy

Like the bond bubbles, housing bubbles, and credit crisis of the last seven years, anytime economics are manipulated beyond the normal scope of market reactions, the results are the consequences that ultimately lead to a collapse or popping of that bubble.  And now the same can be said for education as on April 26, the first major victim of the debt fueled bubble that started with President Obama taking ove ...

Read more

Cold War Redux: $700 million dollar contracts awarded to refurbish Cheyenne Mountain underground facility

Cheyenne Mountain, which was the former home of Norad and was America's primary nuclear war readiness facility, is being refurbished as an underground bunker thanks to a $700 million contract awarded to the Raytheon corporation in late March.  The underground base, which was also home to Space Command (Spacecom), is being retrofitted at a time when tensions between the United States and Russia are proximati ...

Read more

© 2012 Secrets of the Fed