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EU commission studying proposal to re-allocate savings of 500 million citizens

First there was Cyprus, then there was Dodd-Frank along with a league of other nations that passed legislation allowing for the confiscation of bank accounts to re-capitalize financial institutions, and now, there is the European Union which is proposing behind the scenes the theft and re-allocation of monies owned by 500 million citizens within the spectrum of Europe. At first we thought Reuters had been p ...

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QE was simply another form of bailout for insolvent banks

On Feb. 3, economist and statistician Rob Kirby was a guest on Greg Hunter's USA Watchdog network.  During the 39 minute interview, Kirby blows the door wide open on the true purpose for Quantitative Easing 3(QE3), and says that empirical data shows that the entire scheme was created to provide another trillion dollar bailout of the banks, which were officially insolvent from their collection of worthless M ...

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Millionaire Harvard economist pulls money out of bank from fear of Fed policy

There is an old axiom in the world of stock markets, which is, you cannot catch a falling knife.  This analogy refers to the fact that when a stock or entire market begins to sell off, it is usually the insiders and big fish who are able to get their money out by making the first moves, while everyone else attempts to sell with few buyers and in the end, lose their shirts. It is the same way in banking, whe ...

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FDIC closes third U.S. bank for January in the state of Idaho

Syringa Bank, located in Boise, ID, was closed down by the FDIC on Friday, Jan. 31.  This bank failure is the third for the month of January and comes following a year where 24 banks were closed down by the Federal agency. 1/31/2014 *** ID *** Boise *** Syringa Bank *** $4.5 million dollar estimated FDIC DIF cost. The total DIF for failed banks this week is $4.5 million. If you were banking at Syringa Bank ...

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LET BANKS FAIL Is Iceland Mantra as 2% Unemployment in Sight

Iceland let its banks fail in 2008 because they proved too big to save. Now, the island is finding crisis-management decisions made half a decade ago have put it on a trajectory that’s turned 2 percent unemployment into a realistic goal. While the euro area grapples with record joblessness, led by more than 25 percent in Greece and Spain, only about 4 percent of Iceland’s labor force is without work. Prime ...

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Confidence in dollar so bad globally even Zimbabwe has dropped it

When Zimbabwe, the poster child of hyper-inflation in the 21st century, dumps your currency for another because they feel it is being devalued too much, then the ultimate sign of disrespect has been made for a nation's monetary policy.  Sadly, this is suddenly the case for the U.S. dollar when on Jan. 30, the African nation that saved its economy less than five years ago by adopting the dollar as their nati ...

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Former World Bank economist calls for new global currency and end to the dollar

One of the inevitable consequences of a purely fiat currency is that eventually a central bank will inflate and devalue it out of existence for the country it is used in.  However, when that same currency is the world's reserve currency, then that same inflation can be exported to nearly every nation as they are required to use it for international trade settlement. Which brings up an interesting point made ...

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Obama wants everyone to invest in government debt as their retirement

As we sit hours away from President Obama's fifth State of the Union address, a new proposal that will be offered by the President tonight has been leaked to the public.  Sometime during his speech, Barack Obama will offer Americans the chance to save for their retirements not with equities, gold, or real estate, but with government debt... just as his administration has already done by moving Federal emplo ...

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Gold price manipulation pushes mint supplies to the brink

No matter how much a government or central bank believes they can control every aspect of an economy, the natural laws of supply and demand will always rule markets, even during times of intervention and manipulation.  Since 2011, when the Federal Reserve used their proxy banks like J.P. Morgan Chase and Germany's Deutsche Bank to artificially lower gold prices through massive short selling, the gambit has ...

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Fed tapering beginning to exploit cracks in global financial system

On Jan. 25, trends forecaster Gerald Celente was a guest of King World News to speak on the economy, and the coming financial crises that are just beginning to show themselves in Asia, Europe and the U.S..  During his 15 and half minute interview, Celente pointedly stated that the Fed will have no choice but to taper, and continue to taper well into 2014, and that these actions will cause massive problems f ...

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