"With promises to 'drain the swamp!' still ringing in our ears, we have watched Trump appoint nothing but Goldman banksters, Soros stooges, neocon war hawks and police state zealots to head his cabinet. Join us this week on The Corbett Report as we examine the swamp-dwellers with which Trump has filled his swamp." Continue reading →
"To the extent that AML policies have had an impact, it’s been negative. In addition to high costs and inefficiency, the laws and regulations have disproportionately harmed poor people." Continue reading →
"Suddenly the ECB has made it clear that Italy's gain in a 'hypothetical' Euro zone exit would be a tremendous loss for Berlin and Merkel. We are confident that the question of 'how much' preventing such a loss would be worth to Merkel, will emerge in very short order. As for what Draghi's statement means for countries with a far smaller Target2 liability which may also consider exiting the monetary union, the answer is two words: 'green light.'" Continue reading →
Developed-world governments are joining their developing-world counterparts in governing by surprise and openly placing their citizens' wealth at risk through anti-cash messaging and actions. Continue reading →
Every day provides increased evidence that developed-world sovereign debt is quite literally "a bubble in search of a pin", as Peter Schiff put it in his 2011 book 'Crash Proof'. Continue reading →
"What I’m about to tell you is a true story. And by the end of it, I hope it will be pretty clear that we’ve been programmed to put far, far too much trust in the banking system. As my story will show you, they act with a sanctimonious sense of self-entitlement… that it’s no longer YOUR money in the bank. It’s their money. And they’re going to do whatever they damn well please with it." Continue reading →
"Mr. Mnuchin was on the board of Sears for the past 11 years, throughout its devastating decline. He is resigning now, letting the ship go down without him. Besides, he has already stolen the silver. How do you destroy a business? It’s not that hard. Rather than invest in new people and new methods, you take the money for yourself. It is even more attractive if you can borrow a lot of fake money at ultra-low rates against the company’s credit… pay it out to yourself and other financiers… and then jump ship, leaving the company, its employees, and its creditors to drown in your debt." Continue reading →
"The central bank did not say when the heist occurred or how hackers moved the funds. But so far, the attack bears some similarity to a recent string of heists that has targeted the worldwide financial system. In January 2015, hackers got a hold of an Ecuadorian bank's codes for using SWIFT, the worldwide interbank communication network that settles transactions. In October, hackers used the same technique to slip into a bank in the Philippines. Two months later, hackers tried to make fraudulent requests at a commercial bank in Vietnam. They were stopped. This past February, computer hackers stole $101 million from Bangladesh's central bank -- also by gaining access to SWIFT." Continue reading →
If these academics have their way, government-backed paper money will further approach its intrinsic value - zero. They hope that this will drive cash-based savings into bank deposits, which generate fee revenue and a source of leverage for the banks while at the same time supplying governments with taxes and police oversight of citizens' financial lives. However, governments attempting to eliminate cash usage risk destroying trust in the 'coin of the realm', leading to cash-based savings being moved into assets such as real estate, precious metals, and cryptocurrencies instead of bank deposits. Continue reading →
"Three bankers in New York, London and Siena, Italy, died within 17 months of each other in 2013-14 in what authorities deemed a series of unrelated suicides. But in each case, the victim had a connection to a burgeoning global banking scandal, leaving more questions than answers as to the circumstances surrounding their deaths." Continue reading →