Alternative News

Alexis Breaks Down The $13 Billion Chase Settlement

"Today, we'll be talking about the Department of Justice's proposed settlement with JP Morgan Chase for $13 Billion. This settlement is about making a number of open investigations and lawsuits go away. Now the good news is the settlement does NOT immunize JPMorgan from future criminal charges, but you should know that Jamie Dimon, the CEO of JPMorgan Chase has been getting really cozy with US Attorney General Eric Holder. He's been hacing personal phone calls with Holder and staff at the Justice Department since as early as July, negotiating his own settlement, as the NYTimes reported." Continue reading →

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Farmers help bitcoin grow organically in Argentina

"Organic farmers in Argentina are finding bitcoin to be a compelling solution when selling their produce through a website called Tierra Buena. The website has been highlighted in a new short film by Jacob Hansen. The film tells the story of how Nubis Bruno (one of the people behind the exchange site, Conectabitcoin) helped local farmers by creating the website as a means to sell their produce online in exchange for bitcoin or litecoin (and Pesos). The existence of Tierra Buena doesn’t signal a pending economic revolution in Argentina, or anywhere else. However, it is a great anecdote of how digital currencies can be genuinely helpful." Continue reading →

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Bitcoin helps Iranian shoe store overcome international trade sanctions

"The business is Persian Shoes, an over 70-year-old business selling handmade footwear. It is located inIsfahan, the third-largest city in Iran. The owners are happy to ship anywhere, but paying them is a problem. The usual e-commerce channels are blocked. Trade sanctions against the entire country of Iran by the United Nations, United States, European Union and others mean Western Union and major credit card companies will not deal with Iranian businesses, even those in the fashion world. The only way to pay someone in Iran is with cash carried in your pocket – or some easily transferrable, mostly unregulated, digital currency." Continue reading →

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“The US is bankrupt…and it’s only going to get worse from here!”

"Jeff Berwick from The Dollar Vigilante chats with Vanessa Collette about the current state of the US economy and the latest news from the Bitcoin phenomenon. Taped at Cambridge House's Spokane Silver Summit 2013. Always entertaining!" Continue reading →

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Lonely Jeremiahs

"Like last time, it’s only now — after the first cracks in the market have begun to show themselves — that other prominent experts are joining his camp. Eight years ago, the epicenter of the bust was the American home market. Now, it’s every bond market on the planet. And ultimately, bonds are more vital and pivotal in the global economy than homes. Why? Because a global bond-price collapse automatically comes with a global interest-rate surge; and sharply higher interest rates directly impact every consumer, every corporation or every government that borrows money. How prominent are the voices now joining Larson’s once-lonely chorus? Judge for yourself." Continue reading →

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IMF Happy Talk Cannot Obscure Japan’s Reality

"Printing a lot of money is really helping the Japanese economy, according to the International Monetary Fund. In fact, according to the IMF, there's plenty of room to do more if need be. This is part of a larger trend we've been observing of late. Whether it is Janet Yellen in the US or Mark Carney in England or the ECB or the BOJ itself, aggressive money printing is becoming a signature calling card. So what is all this money printing accomplishing? Well ... from our point of view, it's nothing more or less than a promotional exercise. It's clear to us. We couldn't figure it out at first but now we can. They're printing because there's nothing else to do." Continue reading →

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Carney Gets Ready to Blow Up the World

"This article is truly scary. Like a bullet across the bow, or the crack of a whip, it announces with certainty that the world's top bankers intend to blanket the world with faux currency. Carney was said by his central banking peers to be the 'best' central banker of his generation and his recent choice to head the Bank of England was therefore preordained. In fact, we figured that was a bit like being the 'best' used car salesman. But we were wrong. It's worse, much worse. What this article in the Financial Times tells us is that Carney was brought in not just to glad-hand the media and put a sympathetic face on this bloody and miserable facility, but his real brief is to use its powers to the utmost." Continue reading →

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Economy Coming in High and Hard

"We're not certain that this bull market – if they manage to ignite it, and it looks like they will – is going to act like a normal market from a historical perspective. We figure the elements are in place for them to boost averages powerfully but this is still a kind of pre-op coronary patient ... being kept alive by big infusions of adrenaline. The JOBS Act is in place and the product is in the pipeline. The small cap and IPO markets are primed. Fracking promises cheap and plentiful energy – that's what they say, anyway. Somebody's going to make an awful lot of money – and fast – if this market goes up as planned. But it could go down again fast and hard. Timing will be important." Continue reading →

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Guy Who Predicted Lehman Brothers’ Fall Sees Big Trouble for China

"The next financial crisis will not come from the United States. All of my systemic risk indicators are clearly pointing at Asia. Asia is back where we were in 2007; they have a trillion dollars of toxic assets off the balance sheets -- hidden. If you look at interbank lending, we meticulously measure every day how much banks trust each other, and that is a phenomenal leading indicator. If you take summer 2011, the S&P dropped 20 percent in about 35-45 days. And sure enough, right before that, the interbank trust in Europe in May and June was completely breaking down because some banks in Europe, France and Germany own a lot of Greek bonds and the Greek bonds were in flames." Continue reading →

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