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The King Dollar is mortally wounded. Many notice but the masses seem largely unaware. Since 1971, the Gold Standard has been removed from its anchor position. But since 1973, the Petro-Dollar has taken its place. It has called for crude oil sales led by the Saudis and OPEC to be transacted in USDollar terms, for oil surpluses to be stored in USTreasury Bonds, and for some kickbacks from the Saudis to the USMilitary complex for weapons purchases. Of course, the US is ready willing and able to create strife and to foment wars whereby the Arab oil monarchs will need more weapons. Since 2014, many events have pointed to the crippled condition of the important link between the USDollar and crude oil. The price has plunged by 50% of more, and not recovered. It is currently lurching in the nether bounds near…
For your holiday listening pleasure, Jim Willie returns for a comprehensive discussion of the petrodollar and how current events around the Arabian Peninsula are a sign of great distress for this monetary scheme.
Again, what is the “petrodollar”. The idea was championed by Henry Kissinger in 1973 as a way to create ongoing demand for US dollars by maintaining the pricing of crude oil in dollars only. The effects of this were two-fold:
To create constant demand for dollars…dollars which were now completely unhinged from any gold backing…and this demand would soak up any excess supply of new currency being printed in the US for military and social purposes.
To force oil-exporting nations to keep their foreign currency reserves in dollars, thus creating an ongoing demand for US treasury bonds. This…
While many “conventional” indicators of US economic vibrancy and strength have lost their informational and predictive value over the past decade (GDP fluctuates erratically especially in Q1, employment is the lowest this century yet real wage growth is non-existent, inflation remains under the Fed’s target despite its $4.5 trillion balance sheet and so on), one indicator has remained a stubbornly fail-safe marker of economic contraction: since the 1960, every time Commercial & Industrial loan balances have declined (or simply stopped growing), whether due to tighter loan supply or declining demand, a recession was already either in progress or would start soon.
This can be seen on both the linked chart, and the one zoomed in below, which shows the uncanny correlation between loan growth and economic recession.
And while we have repeatedly documented the sharp decline in US Commercial and Industrial loan growth over the past few months (most…
View on YouTube Popular Pro Bitcoin, Anti-Federal Reserve Twitter Account Shut Down Without Notice Read: http://ift.tt/2rD2b28
The information war is heating up, bigly! An educational account sharing information and statistics about the Federal Reserve, and generally supportive of Bitcoin and gold, has gone dark after getting summarily shutdown by Twitter management without explanation or possible recourse. Why so serious, Twitter?
tip this video:
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THE SAUDI ARMS DEAL SUDDENLY TRIPLED IN SIZE WITH LONG TIME SCHEDULE WITHIN THE AGREEMENT… TRUMP COMPLETED THE SINGLE LARGEST ARMS DEAL IN US-HISTORY, DONE WITH SAUDI ARABIA… IT EXCEEDED THE PREVIOUS COMMITMENT FROM TWO WEEKS AGO, NOW WORTH $350 BILLION… WITNESS US-STYLE ECONOMIC STIMULUS, THE TOXIC WAY… THE USGOVT SUPPORTS THE FADING SAUDI KINGDOM, SUPPORTS THEIR VICIOUS YEMEN WAR, AND APPLAUDS THEIR SUPPORT OF ISIS TERROR… THE USGOVT IS ENCOURAGING THE FORMATION OF A GULF REGION NATO, SURELY DEDICATED TO US-ARMS SUPPLY… CURIOUS THE PAYMENT METHOD TO COME, WITH CONJECTURE.
The USMilitary-industrial complex has come to the rescue of USEconomy with the massive arms sale to the world’s biggest purchaser of weapons, namely Saudi Arabia. Beyond the glitz and royal pageantry, President Trump’s visit to Saudi Arabia in all likelihood had a main purpose to sell weapons, and to complete a gigantic $350 billion over…
Following comments from DoubleLine’s Jeff Gundlach tieing the surge in virtual currencies to the demise of China (right before that nation is downgraded), Bitcoin surged overnight, breaking above $2400 for the first time. It is now up over 150% year-to-date.
Bitcoin is up fopr the 26th day in the last 29 sessions, doubling in price in that period…
Wednesday’s gain comes after a bitcoin scaling agreement was reached by the Digital Currency Group, representing 56 companies in 21 countries, at the Consensus 2017 conference in New York, which reduced some of the fears surrounding the so-called ‘hard fork’ in Bitcoin’s code. The agreement states:
“We agree to immediately support the following parallel upgrades to the bitcoin protocol, which will be deployed simultaneously and based on the original Segwit2Mb proposal:
“Activate Segregated Witness at an 80% threshold, signaling at bit 4
More details of President Donald Trump’s first budget proposal were reported Monday by Bloomberg and Reuters. The leaks add to the picture of what we know about Trump’s budget, which also includes a flurry of leaks published by The Washington Post, the Associated Press and Bloomberg late Sunday, which fleshed out Trump’s plans to slash entitlement spending.
In total, the budget plans to trim $3.6 trillion in spending over 10 years across all discretionary spending and non-discretionary spending lines, in order to enable tax reductions across the board: if enacted – and remember that the president’s budget is just an initial blueprint which rarely passes in its original form – the Trump administration would implement the deepest cuts to government programs in a generation, delivering the opening salvo in a new round of budget battles in Washington.
This is key to balancing the budget by the 10th year.
The recklessness of the “too big to fail” banks almost doomed them the last time around, but apparently they still haven’t learned from their past mistakes. Today, the top 25 U.S. banks have 222 trillion dollars of exposure to derivatives. In other words, the exposure that these banks have to derivatives contracts is approximately equivalent to the gross domestic product of the United States times twelve. As long as stock prices continue to rise and the U.S. economy stays fairly stable, these extremely risky financial weapons of mass destruction will probably not take down our entire financial system. But someday another major crisis will inevitably happen, and when that day arrives the devastation that these financial instruments will cause will be absolutely unprecedented.
During the great financial crisis of 2008, derivatives played a starring role, and U.S. taxpayers were forced to step in and bail out companies such as…
The world has been stunned over the past few days by the advent of “Ransomware;” the use of sophisticated cyber attacks on vital systems in order to (supposedly) extort capital from target businesses and institutions. I am always highly suspicious whenever a large scale cyber incident occurs, primarily because the manner in which these events are explained to the public does not begin to cover certain important realities. For example, the mainstream media rarely if ever discusses the fact that many digital systems are deliberately designed to be vulnerable.
Software and internet corporate monoliths have long been cooperating with the NSA through programs like PRISM to provide government agencies backdoor access to computer systems worldwide. Edward Snowden vindicated numerous “conspiracy theorists” in 2013 with his comprehensive data dumps, exposing collusion between corporations and the NSA including Microsoft, Skype, Apple, Google, Facebook and Yahoo. And make no mistake, nothing has…
Clapper admits that there is no evidence of Russian collusion. The deep state is now extremely worried about how Trump is dismantling what they have setup over the last many years. There more links between the Clinton’s and Russia than there are between Trump and Russia. Larry Klayman says the intelligent agencies are more powerful than the Presidency. Venezuela is imploding on itself and Maduro time is running out. North Korea fired a missile and it is being reported that the missile could carry a nuke. Syria, Iraq put troops into position for the upcoming offensive from the deep state. The deep state is now pushing another piece of propaganda about Assad. The latest cyber attack is a warning from the deep state and if they cannot keep control of the system they will use a cyber attack against the financial system to bring it down, there version of the kill…
In recent months, I’ve toured the worst zip codes America has to offer. The rhyming factor in each zip code is deterioration post ‘American High’ (mid-1960s). This weekend, I’m bringing you a treat from West Baltimore, where the homicide rate is spiraling out of control. In some areas, it’s so bad that mobile police stations in 40 foot RV’s are patrolling the streets. Block after block, it resembles a post-apocalyptic view of America, if industry fails to return. We’ll save this story for later.
On my travels from West Baltimore, I stumbled across a 200 year old mall called ‘Old Town Mall’. Established in 1818, the mall contains 64 stores, the majority of which are abandoned. The decay of the mall started in the post-world war era as Baltimore’s population peaked, then started to dwindle. The mall was briefly revived after the 1968 Baltimore Riots catering to a new demographic. The revival ended in the…
So another chain restaurant is “preparing” to bite the dust. Ignite Restaurant Group, which operates the Joe’s Crab Shack chain with 113 locations and the Brick House Tavern chain with 25 locations, and used to operate the Romano’s Macaroni Grill chain with 150 locations until it sold it in 2015, is preparing to file for bankruptcy, “people familiar with the matter” told Bloomberg.
In the quarter ended September 26, 2016, the last quarter for which the company bothered to release an earnings report, same-store sales fell 6.8%; total revenues plunged 10% to $120 million.
A liquidity problem turns into a solvency problem: It had $729,000 of cash and about $26 million of “available borrowing capacity under its current credit facility.” Not exactly a lot, considering that the company lost $15.2 million in Q3, up from a loss of $4 million in Q3 2015.
(Before It’s News)[ZurichTimes] Another X22 Report is out and this report seems more urgent and dire than the rest. Dave is telling us to prepare for the collapse as if we were in 2007 and the 2008 Meltdown was just around the corner…
Student loan lenders are skimming tens of billions in profits guaranteed by the taxpayers.
“Legal” rackets have two essential components: a public-relations “cover” that obscures the racket and the mechanism that extracts the wealth from the “marks.” The Higher Education Racket qualifies on both counts:
1. The PR cover is “you all need a college diploma, and we’re here to make that happen.” Yea for more education!
2. The extraction mechanism is student loans. Here’s a chart that shows what happened relatively recently: your federal government began guaranteeing obscene profits to student-loan lenders and debt-serfdom for tens of millions of “marks” i.e. students.
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