Paul Craig Roberts and Dave Kranzler Are we witnessing the corruption of central banks? Are we observing the money-creating powers of central banks being used to drive up prices in the stock market for the benefit of the mega-rich? These questions came to mind when we learned that the central bank of Switzerland, the Swiss […]
Does it get any funnier than this? Well, arguably, we’ve already seen an even funnier episode from these financial “Wile E. Coyotes”. But let’s begin with a look at the most recent “botched operation” by the psychopaths. The political/economic terrorism against Russia began with the coup in Ukraine, which was fully and completely orchestrated by […]
Two of the largest banks in northern Europe have announced they will boycott Israeli banks because they operate in “occupied territories”, the Walla! Hebrew-language news website reported on Saturday. The two banks in question are the Swedish Nordea Bank, which is the largest bank in Scandinavia, and the Norwegian Danske Bank, which is the largest […]
Nearly half of the US homeowners, who had their loans modified under a government aid program, are now defaulting again on their mortgages at an alarming rate, according to a report on Wednesday by a watchdog organization. The report by the Special Inspector General for the Troubled Asset Relief Program (SIGTARP), said that around 865,100 […]
With market participants cheering a new all-time high in the Dow Jones, one man is predicting this “misplaced optimism” will lead to a “worse collapse than in 2008.” Peter Schiff, the eternal provocateur, suggests the Fed’s extraordinary support of bond and housing markets will lead to a market crash as interest rates rise, leaving banks, […]
The mortgage industry has been crying foul over rates going up a .25 % or 3/8thover the last month. Well hang on, rates are headed to 5%! No they aren’t, Oh Yes they are! Think of things this way, they are buying $45 billion a month and the total cut for the year from sequestration […]
Faced with the obligation to bail out yet another country the European Union forced the confiscation of money held in Cypriot banks as a partial remediation of the current financial crisis—perhaps setting up a dry run for what they may try and do in Spain or Greece later this year. All this should be a […]
Arab Bank, Jordan’s largest lender, has lost a bid to avoid a U.S. trial in a lawsuit brought by terrorism victims who accuse it of supporting attacks in Israel, Bloomberg reports. On Wednesday, U.S. District Judge Nina Gershon rejected the bank’s request to throw out the case, sending it toward trial. The victims claim in […]
Bank of America has reportedly frozen the account of gun manufacturer American Spirit Arms, according to its owner, Joe Sirochman. In a Facebook post dated December 29, Sirochman wrote the following: “My name is Joe Sirochman owner of American Spirit Arms…our Web site orders have jumped 500 percent causing our Web site e-commerce processing larger deposits to […]
Too often, government policies designed to ameliorate a general problem merely benefit a special interest. A case in point, highlighted by Binyamin Applebaum on the Economix blog, is the Home Affordable Refinance Program (HARP). HARP is part of the complex federal effort to stabilize the home mortgage market and stem the flood of foreclosures, and […]
