Who needs Enron when you have taxpayer-backed “banks.” Whereas 20 years ago, it was Enron that made billions from the California electricity crisis (which it caused), a scandal which culminated with Enron’s scandalous and convoluted bankruptcy, this time it is … Continue reading Goldman, Bank Of America Made Hundreds Of Millions From Texas Blackouts
Do you remember when our politicians promised to do something about the “too big to fail” banks?
A lot of people out there expected something to happen in September that did not ultimately happen. There were all kinds of wild theories floating around, and many of them had no basis in reality whatsoever. But without a doubt, some very important things did happen in September. As I warned about ahead of time, we are witnessing the most significant global financial meltdown since the end of 2008. All of the largest stock markets in the world are crashing simultaneously, and so far the amount of wealth that has been wiped out worldwide is in excess of 5 trillion … Continue reading This Is For The ‘Nothing Is Happening’ Crowd…
After writing one of my most recent articles with regard to what typically happens when a currency collapse occurs, due to a currency devaluation, takes down a country’s economy as the Chinese are gobbling up all of our important economic … Continue reading Clinical Proof that Most Politicians and CEO’s Are Certifiably Insane
On Tuesday evening, we asked what would happen if emerging markets joined China in dumping US Treasurys. For months we’ve documented the PBoC’s liquidation of its vast stack of US paper. Back in July for instance, we noted that China … Continue reading It’s Official: China Confirms It Has Begun Liquidating Treasuries, Warns Washington
“The plunge in oil prices is unambiguously good for the US economy” – Virtually every “pundit” with a business suit, who collected a $200 CNBC appearance in the past 3 months A week ago we showed that, using Gallup polling data, the crude crush has clearly led to a “spending surge” among US consumers: whereas a year ago all US consumers spent $96 per day, this December, with crude and gasoline prices roughly half off, Americans spent a self-reported whopping, drumroll, $98 per day. Worse, as is well-known the biggest marginal beneficiary of low gas prices are not wealthy US consumers, … Continue reading The Confessions Begin: Goldman, BofA Warn Crude Crash Will Have Negative Impact On GDP, Earnings
The massacre of Greek citizens under their Goldman Sachs controlled puppets, continues and Greeks are dying while the banks are getting paid for their bad credit swap derivatives. Greece is on the verge of a grass roots led civil war. Why … Continue reading There Is No Recovery From America’s Economic Extinction Level Event
It would appear that your bank is preparing to go on a bank holiday. No, not a vacation, but a holiday. After reading this article, you may find it prudent to check on the liquidity of your bank accounts and … Continue reading American Bank Bail-Ins Are Beginning
Image Credits: tracy_olson, Flickr Just imagine the following scenario. I go to Las Vegas and I place a million dollar bet on who will win the Super Bowl this year. If I am correct, I keep all of the winnings. If I lose, federal law requires you to bail me out and give me the million dollars that I just lost. Does that sound fair? Of course not! In fact, it is utter insanity. But through their influence in Congress, this is exactly what the big Wall Street banks are attempting to pull off. And according to the Huffington Post, there is a very … Continue reading New Law Would Make Taxpayers Potentially Liable For TRILLIONS In Derivatives Losses