Archive for 2020
The Pandora’s Box Of Fed’s Digital Currency Will Ignite An “Inflationary Conflagration”
We most recently described the Fed’s stealthy plan to deposit digital dollars to “each American” during the next crisis as a unprecedented monetary overhaul, but more importantly, a truly stealthy one: to be sure, there has barely been any media coverage of what may soon be a money transfer by the Fed – a direct…
Citigroup Hit With $400 Million Fine Over AML Failures That Led To Mike Corbat’s Downfall
The Comptroller of the Currency has finally handed down its punishment for the compliance failures that helped bring about an end to the tenure of Citibank CEO Michael Corbat. After Citi announced that Corbat would be replaced by Jane Fraser, who will soon become the first CEO of an American megabank, it was revealed that…
World’s Top Oil Trader Is Now A Used Car Salesman
Vitol Group, the world’s largest independent oil-trading firm, has been startled by the prospects of peak oil demand as it must diversify operations today to survive the decade. Vitol recently formed a new business venture called Vava Cars, aiming to become “the most trusted car transaction platform in the world,” the company states on its website. …
De-Dollarization Trend Remains Intact
Global de-dollarization resumed in the second quarter according to data recently released by the International Monetary Fund (IMF). While the dollar share of global reserves increased in the first quarter of 2020, it fell sharply in Q2, resuming a more than two-year trend downward. The share of euros making up global reserves rose slightly and the share of yen…
The SEC Is Making Deutsche’s CEO Personally Responsible For Bank’s Crimes
Since launching its last major international expansion push in the late 1990s, Deutsche Bank has become knonw – particularly over the last ten years – for manipulating markets (most recently in the precious metals “spoofing” scandal in the US) and aiding countless oligarchs and criminals in their money laundering endeavors, among other transgressions. The bank has…
“Digital Euro” as It Begins Experiments on Digital Currency Launch — the Banking Industry Is Very Concerned Digital Currency Will Kill the Banking Industry
As the world obsesses over Trump’s taxes or whether or not he is using oxygen during his covid hospitalization, the biggest overhaul in monetary and currency history is quietly taking place just behind the scenes. Just two weeks ago, Cleveland Fed president Loretta Mester hinted at just how close the US is to a comprehensive…
Financialization & The Road To Zero, Part 1: The Evolution Of Commerce
This is Part 1 of a 4-part series. fi·nan·cial·i·za·tion /fəˌnanCHələˈzāSHən, fīˌnanCHələˈzāSHən/ noun The process by which financial institutions, markets et cetera increase in size and influence. This definition is about as complex as one finds in the popular financial media, nestled in a hyperlink somewhere between a continuous onslaught of graphs, numbers, and opinions shouted…
Former Deutsche Bank Traders Convicted Of Fraud For Spoofing Precious Metals Between 2008 And 2013
Former Deutsche Bank AG traders Cedric Chanu and James Vorley were convicted for manipulating gold and silver prices on Friday after three days of deliberation by a Federal jury in Chicago. The two were accused of making fake trade orders between 2008 and 2013 to influence the prices of precious metals. Their trial was a…
“An Extremely Dangerous Game” – Central Bankers ‘Extend & Pretend’ Has Increased Risk Of “Catastrophic Collapse”
In recent weeks, there has been a lot of talk about the role of the world’s central bankers going forward. With that in mind, now seems like a good time to recap the market bailout operations during the past few years… to get some insights into how this all ends (spoiler alert – not well)! GnSEconomics.com’s Tumoas…
‘There Is No Monopoly Here:’ Tim Cook Welcomes Antitrust Investigation of Apple
Speaking at the Atlantic Festival recently, Apple CEO Tim Cook discussed the antitrust issues that the tech giant is facing amongst a number of other topics. Mac Rumors reports that while discussing the topic of antitrust at the Atlantic Festival, Apple CEO Tim Cook stated that “big companies deserve scrutiny” which is “fair but important” for the…