Economy

America is Choking on a Corrupt Monetary System: Operation Choke Point

Posted by on February 16, 2015 in Economy with 0 Comments
America is Choking on a Corrupt Monetary System: Operation Choke Point

Operation Choke Point is an unconstutional backdoor way of closing otherwise legal companies by cutting off their access to the banking system and capital. If they can’t deposit their revenue in a bank account or accept credit card payments they are effectively shut down. There are three problems with Operation Choke Point. The first is procedural. The President, through the DOJ, the FDIC, and the new Consumer Financial Protection Bureau, implemented new regulations without Congress passing any law or even being informed of what was going on. This executive action was an end run around the legislative process and it prevented any type of public discussion or input on it.

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What Does It Take to Start a Worker Co-Op? Here’s A Practical Video Guide to Democratizing Our Economy

Posted by on February 15, 2015 in Economy with 0 Comments
What Does It Take to Start a Worker Co-Op? Here’s A Practical Video Guide to Democratizing Our Economy

Would practicing workplace democracy and working together be easier if our media and our education system gave us as many visions of collaboration as they do of competition? What if we were encouraged to participate in our communities as much as we are pushed to purchase stuff? If we measured prosperity not by how high we could pile up resources, but how widely we could spread them out, would our heroes, not to mention our economy look different? We believe so. Own the Change: Building Economic Democracy One Worker Co-op at a Time is one contribution to a broader vision.

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Have You Stocked Up On Coins Yet? You Will After Reading This!

Posted by on February 11, 2015 in Economy with 0 Comments
Have You Stocked Up On Coins Yet? You Will After Reading This!

A bill has been introduced in the House of Representatives which seeks to quickly and dramatically alter the composition for all current circulating United States coins. Specifically, the bill would require the one-cent, five-cent, dime, and quarter dollar coins to be produced primarily of steel, with the change implemented 90 days after the enactment of the Act.

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Central Bankers Will Speed Up the Rise of Gold and Bitcoin

Posted by on February 9, 2015 in Economy with 0 Comments
Central Bankers Will Speed Up the Rise of Gold and Bitcoin

It has become now a worn-out cliche to point out that central bankers are destroying the world economy. All their stimulus and ‘quantitative easing’ is nothing more than naked money-printing.

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2015 Economic Outlook: What You Really Need to Know

Posted by on February 2, 2015 in Economy with 0 Comments
2015 Economic Outlook: What You Really Need to Know

Jeff Clark: In the January issue of BIG GOLD, interviewed 17 analysts, economists, and authors on what they expect for gold in 2015. Some of those included what we affectionately call our Casey Brain Trust—Doug Casey, Olivier Garret, Bud Conrad, David Galland, Marin Katusa, Louis James, and Terry Coxon. The issue was so popular that we decided to reprint this portion. I think you’ll find some very insightful and useful reading here…

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Wall Street’s Threat to the American Middle Class (and What Must Be Done to Stop It)

Posted by on January 27, 2015 in Economy with 1 Comment
Wall Street’s Threat to the American Middle Class (and What Must Be Done to Stop It)

Presidential aspirants in both parties are talking about saving the middle class. But the middle class can’t be saved unless Wall Street is tamed. The Street’s excesses pose a continuing danger to average Americans. And its ongoing use of confidential corporate information is defrauding millions of middle-class investors. Yet most presidential aspirants don’t want to talk about taming the Street because Wall Street is one of their largest sources of campaign money.

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A Student Jubilee! Liberate 41 Million Americans From Crushing Loan Debt

Posted by on January 27, 2015 in Economy with 0 Comments
A Student Jubilee! Liberate 41 Million Americans From Crushing Loan Debt

President Obama’s proposal for tuition-free community college education, and the broader discussion which it has inspired, confirms our belief that it is time for a comprehensive solution to a $1.3 trillion problem: student debt in the United States. We strongly support the concept of tuition-free public higher education, and are encouraged by renewed arguments in its favor. But we must also confront what has been done to the last several generations of students. They have been forced to take on debt that is crippling to them, to our economy and our society. A student debt “jubilee” would reflect both the values upon which this nation was founded, and the economic principles which have sustained it through its greatest periods of growth and prosperity.

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Millennials: Escape the Credit/Debt Matrix

Posted by on January 26, 2015 in Economy with 1 Comment
Millennials: Escape the Credit/Debt Matrix

According to the U.S. Census Bureau, December, 2014, 1 in 5 of the Millennial generation (birth years from early 1980s to early 2000) live in poverty and have lower rates of employment compared to their Baby Boomer parents of a similar age in the 1980s, one of the most prosperous eras of American history.

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2015 Economic Forecast: Volatile & Violent – Catherine Austin Fitts

Posted by on January 25, 2015 in Economy with 0 Comments
2015 Economic Forecast: Volatile & Violent – Catherine Austin Fitts

Investment banker Catherine Austin Fitts predicts that 2015 is going to be “volatile and violent.” Fitts says, “I think 2015 is going to be a very rough year. I think you have to be prepared for wild swings. We’ve seen oil come down 50%.” Fitts also points out, “The creative destructive aspects are pretty scary.”

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STUDY: Americans Not Ready for the Next Economic Crisis

Posted by on January 21, 2015 in Economy with 0 Comments
STUDY: Americans Not Ready for the Next Economic Crisis

A new Wall Street Journal survey finds, barely over one-third of Americans even have enough money to cover a minor car repair or a quick trip to the ER. This means, upwards of 60 percent of the country has to take out a loan or pull out their credit card to cover the cost of any unexpected emergencies.

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Swiss Shocker Triggers Gigantic Losses For Banks, Hedge Funds And Currency Traders

Posted by on January 20, 2015 in Economy with 2 Comments
Swiss Shocker Triggers Gigantic Losses For Banks, Hedge Funds And Currency Traders

The absolutely stunning decision by the Swiss National Bank to decouple from the euro has triggered billions of dollars worth of losses all over the globe. Citigroup and Deutsche Bank both say that their losses were somewhere in the neighborhood of 150 million dollars, a major hedge fund that had 830 million dollars in assets at the end of December has been forced to shut down, and several major global currency trading firms have announced that they are now insolvent. And these are just the losses that we know about so far. It will be many months before the full scope of the financial devastation caused by the Swiss National Bank is fully revealed.

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Richest 1% Percent To Have More Than Rest of Humanity Combined by 2016

Posted by on January 19, 2015 in Economy with 0 Comments
Richest 1% Percent To Have More Than Rest of Humanity Combined by 2016

In less than two years, if current trends continued unchecked, the richest 1% percent of people on the planet will own at least half of the world’s wealth. That’s the conclusion of a new report from Oxfam International, released Monday, which states that the rate of global inequality is not only morally obscene, but an existential threat to the economies of the world and the very survival of the planet. Alongside climate change, Oxfam says that spiraling disparity between the super-rich and everyone else, is brewing disaster for humanity as a whole.

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Bank Of America Misses Revenue By $2 Billion As Trading Revenue Collapses; Fires Thousands

Posted by on January 15, 2015 in Economy with 0 Comments
Bank Of America Misses Revenue By $2 Billion As Trading Revenue Collapses; Fires Thousands

Following disappointing results from JPM and Wells Fargo yesterday, it was Bank of America’s turn to “surprise” investors with its disclosure just how bad its quarter was. And with the bank reporting a 50% collapse in its sales and trading from Q3, down $600 million from a year ago to just $1.7 billion in Q4, it should come as no surprise that the bank just reported Net Income, before the usual spate of amusing addbacks, of $0.25 well below the $0.31 expected. And while one may argue whether ot not BofA’s EPS deserve non-GAAP adbacks, it was the Revenue of $18.96 billion, which missed expectations of $21.03 billion by over $2 billion (!) and down $2.7 billion from a year ago, that was truly a showstropper and shows that without the Fed’s visible hand manipulating markets every day, banks are a ticking time bomb just waiting to blow.

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Homeless Homed: ‘The Daily Show’ Features Utah’s Awesome Initiative That Gives Homes to the Homeless

Homeless Homed: ‘The Daily Show’ Features Utah’s Awesome Initiative That Gives Homes to the Homeless

The way Utah is addressing the homeless issue caught the attention of “The Daily Show” with Jon Stewart. It’s helping shed light on an important issue while also making people laugh. It all started with the many housing units set up to help get homeless off the street. It’s a program called Housing First, and it’s working so well, the state says it has decreased homelessness by 72 percent since 2005. Now, even more people are hearing about its success, thanks to the popular show.

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This Is Exactly How Markets Behave Right Before They Crash

Posted by on January 14, 2015 in Economy with 0 Comments
This Is Exactly How Markets Behave Right Before They Crash

When the stock market starts to behave like a roller coaster that is a sign that a major move to the downside is right around the corner. But when the waters start getting really choppy, that is a clear indication that stocks are about to plummet. In early 2015, volatility has returned to Wall Street in a big way. At one point on Tuesday, the Dow was up more than 300 points. But then the bottom dropped out. From the peak on Tuesday, the Dow plunged nearly 700 points in less than 30 hours before recovering more than 100 points at the end of the day.

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