'Spectacular Betrayal' as Trump Hands Economy 'Back Over to Wall Street' Executive orders seen as "a cave-in to the power of Wall Street and the financial lobby. " (Photo: Dave Center/flickr/cc) President Donald Trump is handing the U.S. economy "back over to Wall Street" on Friday, with a regulatory rollback that critics say could put consumers and the financial system at risk. According to the Wall Street Journal, Trump signed executive orders Friday "establish[ing] a framework for scaling back the 2010 Dodd-Frank financial-overhaul law" and rolling back an Obama-era regulation requiring advisers on retirement accounts to work in the best interests of their clients.
That rule was set to go into effect in April. "Wall Street titan Goldman Sachs seems to be taking over financial regulation in the United States, trying to make it easier for them and other big banks like Wells Fargo to steal from their customers and destabilize the economy. "—Lisa Donner, Americans for Financial Reform Trump signed the orders after meeting with bank CEOs. And Sen. Switzerland Follows Iceland in Declaring War Against the Banksters. By Isaac Davis “If you want to continue to be slaves of the banks and pay the cost of your own slavery, then let bankers continue to create money and control credit.” – Josiah Stamp Iceland has gained the admiration of populists in recent years by doing that which no other nation in the world seems to be willing or capable of doing: prosecuting criminal bankers for engineering financial collapse for profit.
Their effective revolt against the banking class, who drove the tiny nation into economic crisis in 2008, is the brightest example yet that the world does not have to be indebted in perpetuity to an austere and criminal wealthy elite. In 2015, 26 Icelandic bankers were sentenced to prison and the government ordered a bank sale to benefit the citizenry. Switzerland is in a key position to play a revolutionary role in changing how global banking functions. Reserve banking is the policy that guarantees insurmountable debt as the outcome of all financial transactions. Image Credit. The Collapse Of the Too Big To Fail Banks In Europe Is Here. By Michael Snyder | The Economic Collapse The collapse of the banks in Europe is dragging down stock prices all over the continent.
At this point, more than one-fifth of all stock market wealth in Europe has already been wiped out since the middle of last year. That means that we only have four-fifths left. The following comes from USA Today… The MSCI Europe index is now down 20.5% from its highest point over the past 12 months, says S&P Global Market Intelligence, placing it in the 20% decline that unofficially defines a bear market. Europe’s stock implosion makes the U.S.’ sell-off look like child’s play. These declines are being primarily driven by the banks. The region’s banking gauge, the Stoxx Europe 600 Banks Index FX7, -5.59% has logged six straight weeks of declines, its longest weekly losing stretch since 2008, when banks booked 10 weeks of losses, beginning in May, according to FactSet data.
“The current environment for European banks is very, very bad. About the Author. Dollar Collapse? World Bank Whistleblower Predicts Global Currency. Source: www.wakingtimes.com | Original Post Date: November 10, 2014 – According to World Bank whistleblower Karen Hudes, the US dollar is set to crash and will be replaced with a new, interest free, gold-backed currency. Hudes is a lawyer that worked in the World Bank legal department and has been recently reinstated by the 188 Ministers of Finance on the Board of Governors on the World Bank In an interview with Russia Today, Hudes stated, “there is 170,500 metric tons of gold deposited in a vault in the Bank of Hawaii, 130,500 metric tons in AMEX Hong Kong plus 150,000 metric tons in Development Bank of Singapore, for a total of 451,000 metric tons.
There is an additional amount exceeding 100,000 metric tons in other American banks”. The authorized signatory for the trust fund is Wolfgang Struck. What is the hold up? According to Hudes, the mainstream media has been bought up by the banks, which is delaying the movement forward of information outside of the alternative news media. 1. What the Worst First Week of Trading In History Tells us About the Year to Come | The Dollar Vigilante. Humans are… well, human. And that means that they are susceptible to all manner of superstition and importance put on arbitrary dates. And so, even though the first week of January, when looked at completely objectively, shouldn’t be any different than any other week of the year… it tends to have a psychological meaning for many.
Most of the trading in the stock markets today aren’t even done by humans. Goldman Sachs and JP Morgan have computers trading thousands of times per second which makes up for most of the minute-to-minute trading. But humans are still involved and human action, with all of its psychological and emotional imperfections, still determines the longer term trends. For this, and many other reasons, the first week, and certainly the first month of the year, has real world repercussions. Forbes explains it this way: As Forbes shows, if the first five trading days of the year are positive, the equity markets went on to record a positive year 85% of the time.
Fed Official Confesses Federal Reserve Rigged the Stock Market — Crash Certain. By David Haggith | The Great Recession Blog In a dynamite interview, Richard Fisher, former president and CEO of the Federal Reserve Bank of Dallas, gave what may be the biggest confession you’ll ever see and hear from a Federal Reserve insider: the Federal Reserve knowingly “front ran” the US stock market recovery (i.e., manipulated the market) and created a huge asset bubble.
Fisher expressed certainty that the “juiced” stock market will come down and is coming down now that the Fed has taken its foot off the accelerator … and that it has a long way yet to go. While that is no news to readers here whose eyes are wide open, a “market put” has been denied by the Fed and by many market advisors. That the market was an overinflated bubble created by the Fed has been denied, too; but Fisher clearly and gleefully admits the Fed created a bubble that will have to deflate now that the Federal Reserve’s stimulus is off. Here are the significant quotes from Richard Fisher on CNBC’s video: New Bank Bail-In System Goes Into Effect In Europe Jan 1, 2016. By Michael Snyder |The Economic Collapse If you have a bank account anywhere in Europe, you need to read this article. On January 1st, 2016, a new bail-in system will go into effect for all European banks.
This new system is based on the Cyprus bank bail-ins that we witnessed a few years ago. If you will remember, money was grabbed from anyone that had more than 100,000 euros in their bank accounts in order to bail out the banks. Now the exact same principles that were used in Cyprus are going to apply to all of Europe. And with the entire global financial system teetering on the brink of chaos, that is not good news for those that have large amounts of money stashed in shaky European banks. Related Article: Switzerland Follows Iceland in Declaring War Against the Banksters Below, I have shared part of an announcement about this new bail-in system that comes directly from the official website of the European Parliament. So why was the European Commission in such a rush? 58 Facts About The U.S. Economy From 2015 That Are Almost Too Crazy To Believe.
By Michael Snyder | Activist Post The world didn’t completely fall apart in 2015, but it is undeniable that an immense amount of damage was done to the U.S. economy. This year the middle class continued to deteriorate, more Americans than ever found themselves living in poverty, and the debt bubble that we are living in expanded to absolutely ridiculous proportions. Toward the end of the year, a new global financial crisis erupted, and it threatens to completely spiral out of control as we enter 2016. Over the past six months, I have been repeatedly stressing to my readers that so many of the exact same patterns that immediately preceded the financial crisis of 2008 are happening once again, and trillions of dollars of stock market wealth has already been wiped out globally.
The following are 58 facts about the U.S. economy from 2015 that are almost too crazy to believe… #1 These days, most Americans are living paycheck to paycheck. . #21 According to the U.S. . #23 According to Kathryn J. The U.S. Dollar Has Already Caused a Global Recession and Now the Fed Is Making It Worse. By Michael Snyder | The Economic Collapse The 7th largest economy on the entire planet, Brazil, has been gripped by a horrifying recession, as has much of the rest of South America. But it isn’t just South America that is experiencing a very serious economic downturn.
We have just learned that Japan (the third largest economy in the world) has lapsed into recession. So has Canada. Related Article: Recessionary Numbers Indicate U.S. Throughout 2015, the U.S. dollar has been getting stronger. Many Americans may be wondering when “the next economic crisis” will arrive, but nobody in Brazil is asking that question. As Brazilian president Dilma Rousseff combats a slumping economy and corruption accusations, the country’s inflation surged above 10 percent while unemployment jumped to 7.9 percent, according to the latest official data.
The political and economic turmoil has recently driven the real, Brazil’s currency, to multiyear lows, a factor helping to stoke price pressures. If The Economy Is Fine, Why Are So Many Hedge Funds, Energy Companies And Large Retailers Imploding? By Michael Snyder, on November 18th, 2015 If the U.S. economy really is in “great shape”, then why do all of the numbers keep telling us that we are in a recession?
The manufacturing numbers say that we are in a recession, the trade numbers say that we are in a recession, and as you will see below the retail numbers say that we are in a recession. But just like in 2008, the Federal Reserve and our top politicians will continue to deny that a major economic downturn is happening for as long as they possibly can. In this article, I want to look at more signs that a dramatic shift is happening in our economy right now. First of all, let’s consider what is happening to hedge funds.
For many years, hedge funds had been doing extremely well, but now they are closing up shop at a pace that we haven’t seen since the last financial crisis. And those are just two examples. Another troubling sign is the implosion of so many energy companies. Wrong. 4 Harbingers Of Stock Market Doom That Foreshadowed The 2008 Crash Are Flashing Red Again. By Michael Snyder, on November 11th, 2015 And there is a reason why junk bonds are crashing. In 2015 we have seen the most corporate bond downgrades since the last financial crisis, and corporate debt defaults are absolutely skyrocketing. The following comes from a recent piece by Porter Stansberry… So far this year, nearly 300 U.S. corporations have seen their bonds downgraded.
That’s the most downgrades per year since the financial crisis of 2008-2009. Another thing that I am watching closely is the price of oil. A massive crash in the price of oil preceded the stock market crash of 2008, and over the past year we have seen another dramatic crash in the price of oil. Many had been expecting the price of oil to bounce back, but instead we are seeing new downward momentum.
Crude oil was down nearly 3% in morning trade on Wednesday.West Texas Intermediate crude oil futures in New York dropped to as low as $42.97 per barrel. Economists commonly refer to it as “Dr. Global Trade Is Collapsing As the Worldwide Economic Recession Deepens. By Michael Snyder | ActivitstPost.com When the global economy is doing well, the amount of stuff that is imported and exported around the world goes up, and when the global economy is in recession, the amount of stuff that is imported and exported around the world goes down.
It is just basic economics. Governments around the world have become very adept at manipulating other measures of economic activity such as GDP, but the trade numbers are more difficult to fudge. Related Article: The Top 12 Signs That The U.S. Economy Is Heading Toward Another Recession Today, China accounts for more global trade than anyone else on the entire planet, and we have just learned that Chinese exports and Chinese imports are both collapsing right now. For many years, China has been leading the revolution in global trade. Growth of exports from China has been dropping relentlessly, for years. So what about the United States? September is in the early phase of the make-or-break holiday shipping season. Russia's ultimate lethal weapon. - Advertisement - Reprinted from RT (image by Vladimir Pesnya / RIA Novosti) DMCA Let's start with some classic Russian politics.
Finance Minister Anton Siluanov is drawing up Russia's economic strategy for 2016, including the government budget. So far, nothing spectacular. The Security Council is led by Nikolai Patrushev, the former head of the Federal Security Service. Glazyev is arguably going no holds barred. Predictably, some sectors of US "Think Tankland" went bonkers, stating with utmost certainty that "the Russian energy sector would not be able to find much financing without connections to the West. " One thing though is absolutely certain; Moscow won't bend over backwards to "pacify" Washington. Neo-Tsarism, anyone? One might be tempted to see Glazyev drawing up plans to return to some sort of Tsarist self-sufficiency while cutting off ties with the West. The default would be payback for the twin Western manipulation of oil prices and the ruble.
Russia to Pass a Law Formally Dumping the U.S. Dollar. Russian President Vladimir Putin has introduced legislation that would deal a tremendous blow to the... Russian President Vladimir Putin has introduced legislation that would deal a tremendous blow to the U.S. dollar. by Michael Snyder If Putin gets his way, and he almost certainly will, the U.S. dollar will be eliminated from trade between nations that belong to the Commonwealth of Independent States. In addition to Russia, that list of countries includes Armenia, Azerbaijan, Belarus, Kazakhstan, Kyrgyzstan, Moldova, Tajikistan and Uzbekistan. Obviously this would not mean “the death of the dollar”, but it would be a very significant step toward the end of the era of the absolute dominance of the U.S. dollar.
Most people don’t realize this, but more U.S. dollars are actually used outside of the United States than are used inside this country. Unfortunately for us, it is only a matter of time until that happens. "Last year Russia began unloading massive amounts of their US dollar reserves. Greece Effectively Defaults To IMF Using SDR Reserves To “Repay” Fund; 1 Month Countdown Begins | Gold and Precious Metals. (Before It's News) When Monday’s Eurogroup meeting concluded without an agreement between Greece and its creditors, it should have been game over for Athens. With pensioners at their breaking point and with local governments reluctant to comply with a decree mandating a sweep of excess cash reserves, the idea that Greece would somehow be able to scrape together €750 million euros to make a scheduled payment to the IMF today seemed far-fetched at best which is why we asked the following question Monday afternoon: Where, if not from local governments who have been extremely reluctant to comply with Athens’ cash sweep decree, and if not from the IMF which will apparently not be paying itself tomorrow after all, is Greece going to get three quarters of a billion euros in the next 12 hours?
We now know the answer to that question. As Bloomberg reports, citing Kathimerini, Greece tapped IMF reserves to pay .. well, to pay the IMF: Reuters has a bit more color: Via El Mundo (Google translated): A Global Financial Reset Is Coming: ‘A Deal Is Being Made Between All The Central Banks’ Negative interest begins: U.S. banks begin charging customers to hold their deposits. Greece Buys Gold Sovereigns as New Greek Drachmas Unveiled | Gold and Precious Metals. Putin Orders Feared “Samson Defense” To Collapse US-EU Economies. Guess What Happened The Last Time The Price Of Oil Crashed Like This? Grim Numbers from the 2014 Global Wealth Report. Welcome to Berlin, Yankee! Hope You Brought a Mattress for Your Money! 14 Reasons Why The U.S. Economy’s Bubble Of False Prosperity May Be About To Burst.
14 Reasons Why The U.S. Economy’s Bubble Of False Prosperity May Be About To Burst.