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In all the fear over lower oil prices, few are talking about its impact on the dollar

When the U.S. signed its 1973 agreement with the House of Saud to peg oil to the dollar, few tended to realize that the opposite would be true, and that the dollar itself is intrinsically tied to oil and the price of this commodity.  It is one of the reasons why Kissinger had the Saudi's (and OPEC) increase the price three fold so that this inflation would allow the U.S. to then increase the nation's money ...

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Former Chief economist for the BIS says economy is now worse than in 2007

For more than two years, economists in the alternative media have been warning of a coming economic meltdown that would be worse than the Credit Crisis of 2008 simply because the debts are much bigger, and the underlying problems that led to that crisis have never been addressed.  And now in early 2016, more and more mainstream analysts are jumping onto this bandwagon, with the former Chief Economist for th ...

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IMF pumping out declines in global growth forecasts like central banks print money

On Jan. 19, the International Monetary Fund (IMF) cut its forecast for global growth for the third time in less than a year, validating that the largest financial centers in the world have little idea on what is actually occurring within the global economy. The IMF's cut follows today's announced decline in China's GDP, and last Friday's Atlanta Fed announcement that they were cutting estimates on U.S. GDP ...

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France becomes second nation in a week to call for a State of Economic Emergency

Late last week the President of Venezuela announced a 60 day State of Economic Emergency as their financial situation continued to deteriorate due to the decline in oil prices.  And now on Jan. 18, the European nation of France has joined in the festivities and called for their own State of Emergency. French President Francois Hollande issued the economic decree in an attempt to circumvent the continuing do ...

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Think $30 oil is bad? Get ready for $20 now that Iran has officially re-entered the market

Saturday the 16th of January was officially D-Day for the collapsing oil markets as it is now the time for Iran to enter in with its sanction held supplies, and prepared coming production.  And if the world economy thought Friday's $29 oil was bad for markets, just wait for what the introduction of Iranian supplies does for these markets going forward. For nearly a decade, economic sanctions against Iran ha ...

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Venezuela in crisis: Oil nation put into 60 day state of economic emergency

Last week we focused on Canada, and the economic crises that has exploded across that country due to low oil prices, and massive debts created in the building of a housing bubble.  And with markets crashing all across the world over the first 17 days of 2016, the situation in another oil producing country is also dissolving into economic crisis. On Jan. 15, Venezuelan President Nicolas Maduro declared a 60 ...

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Walmart! Macy’s! When will they finally admit consumers are broke?

Only on CNBC, and in the research rooms of the big banks, could Ivy League analysts have the temerity to spin consumer spending and retail data to be a vision of unicorns and rainbows (and don't forget the skittles).  But for those looking at information at face value, it is impossible to deny that the economy is in recession. And one of the data points that practically assures this truth is what is happeni ...

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Should we get ready for a Canadian Spring?

Back in 2011, what would become known as the Arab Spring emerged in Middle Eastern countries like Tunisia, Egypt, and Yemen over the inability of the people to have access to affordable food that was primarily imported into their nations through world markets.  At the heart of the problem was the artificial strength of the U.S. dollar, and the need to buy these dollars to purchase foodstuff commodities. But ...

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Boom! Oil falls below $30 a barrel

It has taken only 12 days into the new year for a major prognostication to take shape in the global economy as the price of oil fell below $30 per barrel in intra-day trading. Leading up to the beginning of 2016, several analysts on both sides of the spectrum (mainstream and alternative) forecasted troubling times for the economy should oil move down into the $20's for an extended period of time. If oil pri ...

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Bitcoin’s success is the result of nation’s incompetent policies and the trashing their own currencies

Five years ago very few would have thought of Bitcoin as anything more than a novelty... a curiosity for the digital age, and a symbol for the anarcho-capitalist fringe.  But the foresight behind Bitcoin was more in the creator(s) understanding of banking than it has been in forging a rebellious construct to the long-standing system of private central banking. So for many of course, it is a very big surpris ...

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It’s hard to spin the worst market week ever to begin a new year

Perhaps it was an omen that 2015 ended without a Santa Claus rally, and the final two days of trading were both in the red for most markets, but not many could have predicted that 2016 would start out with not only a continuation of the prior week's trend, but end the week with a historic event for U.S. markets. The worst week ever to begin a new year. Not even in the Depression years of 1930 - 33 did the s ...

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Jobs number crushes expectations, but wages decline and part time employment reigns

On Jan. 8 the newest jobs report was published, with the overall numbers crushing analyst expectations as most had estimated that 200,000 would be created for the month of December.  Yet when you look further into the meat of the 292,000 new jobs recorded by the BLS, you find that not only were the majority of them part time (probably holiday seasonal) ones, but average wages for all jobs declined a tick fo ...

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