For every dollar that you have in the bank there is actually 0.00061 dollars available...in other words, there's 6 cents for every $100 dollars of deposits that you have at the bank. As Mike Maloney explains in this brief clip, we live in an economic system that is made complicated by design. Basically, it’s set up so most people don’t even try to understand it. Got Gold?
The object of this exercise appears to be perpetual debt-servitude as well as placing almost everyone fully and finally under the complete control of the powers that be, who are no longer just the powers in government. The distinction between state power and corporate power is so blurry now as to be almost impossible to parse. The two are effectively the same thing, working hand in hand for their mutual benefit
"New York City just turned very quickly and more deeply than we expected. We had to join the concession party to close deals." Chief Operating Officer David Santee said during the Q1 earnings call, also adding that with the city accounting for 20% of the firm's revenue "if you can't achieve 3 or 4 percent rate growth here, then it's going to impact your bottom line."
Italy's bad bank bailouts fund, "Atlas", is about to become the proud new owner of around 90% of Italy's Popolare di Vicenza after investors only bought a fraction of the mid-tier bank's €1.5 billion cash call, Reuters reports. Popolare di Vicenza, which was due to announce the outcome of the public share offer later on Friday, said earlier in the day that it had raised €4.25 billion, at the lower end of a 4-6 billion euro range it had initially targeted, from 67 mostly domestic financial institutions.
"Treasury is creating a new “Monitoring List” that includes these economies: China, Japan, Korea, Taiwan, and Germany. China, Japan, Germany, and Korea are identified as a result of a material current account surplus combined with a significant bilateral trade surplus with the United States. Taiwan is identified as a result of its material current account surplus and its persistent, one-sided intervention in foreign exchange markets. Treasury will closely monitor and assess the economic trends and foreign exchange policies of these economies."
Outside the California Republican Party 'lunch banquet' in Burlingame at which Donald Trump is set to speak this afternoon, Anti-Trump protesters have swelled in numbers and turned violent. Having breached barricades, riot police have begun to move in and are arresting some of the group...
Russia and Saudi Arabia have been (relatively) quietly fighting for market share in China ever since oil prices started their downward spiral in mid-2014 - now the battle is heating up, and teapot refineries are what could tip the balance.
Today, we find the latest, and perhaps most innovative attempt to circumvent capital controls yet when a group of Chinese investors has offered to buy AC Milan football club, one of former Italian prime minister Silvio Berlusconi's most cherished assets. The offer values the club at around 700 million euros including debt, one of the sources said.
"Not only do the five largest financial institutions in the US have a higher concentration of assets than they did before the financial crisis but it’s the largest concentration ever. So we’ve made the too-big-to-fail-problem worse because we have bigger, more systemically important financial institutions now than we did in 2007 – and nobody seems to know what to do about it... [EU banks] are acting irrationally. They’re not acting that way because they don’t believe it or they don’t understand it. So we’re still all trying to feel around in the dark as to what this means. And that means that the chance of an accident is very high."
Is Everyone Wrong On The "Causation" Of The Commodity Bubble? While it appeared 'retail' was responsible for the panic-buying chaotic volume surge in Chinese commodities, Axiom Capital Management's Gordon L Johnson points out that in fact... China Bank Special Interest Vehicles' "Bold" Commodity Speculation Is The Real Budding Black Swan
One month after we learned that the Brussels suicide bombers had planted hidden cameras at the home of the top Belgian nuclear official, we now learn that in a disturbing continuation of this story, the entire population of Belgium will be receiving iodine tablets, which helps to limit the effects of radiation on the body, as fears increase around the security of its nuclear power plants.