Austerity

Tsipras Rejects EU Ultimatum, Demands Bridge Deal: “Greeks Can’t Take More Disappointment”

Zerohedge Speaking defiant tone on Sunday evening, Greece's new Prime Minister Alexis Tsipras showed no signs of backing away from the commitments and pledges he and his party made to the Greek people (and that so many staunch status-quo huggers believe he will back down from). Raging that Greece "won't…
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Central Banks

ECB Pulls The Trigger: Blocks Funding To Greece Via Debt Collateral – Full Statement

Zero Hedge Just what the market had hoped would not *ECB SAYS IT LIFTS WAIVER ON GREEK GOVERNMENT DEBT AS COLLATERAL *ECB SAYS IT CAN'T ASSUME SUCCESSFUL CONCLUSION OF GREECE REVIEW What this means simply is that since Greek banks are now unable to pledge Greek bonds as collateral and…
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Central Banks

Currency war: Swiss fight back, remove cap on Euro, forcing Wall Street losses, forex firms fail

| WTF News | 2015 will be marked by moments of self preservation, especially in financial markets. Thursday, the Swiss National Bank shocked the global financial world by announcing it removed the September 2011 cap placed on the currency's value against the Euro, in a move to protect the Franc…
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Bankers

MassMutual Senior Vice President Found Dead, Stabbed In Chest In Apparent Homicide

Zero Hedge A week after stunned Tribeca woke up to news of a grizzly death in which a Citigroup managing director living on Greenwich Street was found dead in his bathtub with a slashed throat and the lack of a suicide weapon on the scene suggesting there was foul play…
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Another Banker Found Dead Under Strange Circumstances

The Daily Sheeple by Joshua Krause Over the past several years there has been a long string of deaths in the financial community. Top executives and advisers in the banking industry have been dying off in droves, and often under very peculiar circumstances. This year alone has seen 16 banker…
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Bankers

Senior Citi Banker Found Dead In Bathtub With Slashed Throat

The dust has barely settled on the latest high profile banker suicide in which Deutsche Bank's associate general counsel, and former SEC regulator, Charlie Gambino was found dead, having hung himself by the neck from a stairway banister, and here comes the latest sad entrant in the dead banker chronicles…
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Central Banks

BRICS discuss ratification of new Bank, $100 bn CRA

The Bric Post Leaders of the five BRICS nations have met in Brisbane on Saturday ahead of the annual G20 Summit, aimed at boosting trade and economic ties between the group. The leaders, including Chinese President Xi Jinping, Russian President Vladimir Putin, Indian Prime Minister Narendra Modi, South African President…
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The Economy Of The Largest Superpower On The Planet Is Collapsing Right Now

The Economic Collapse by Michael Snyder How do you fix a superpower with exploding levels of debt, that has a rapidly aging population, that consumes far more wealth than it produces, and that has scores of zombie banks that could collapse at any ; You might think that I am…
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It Will Take 6.25 BILLION “Man Years” To Pay Off Federal Government Liabilities: “A Mathematical Impossibility”

SHTFplan by Mac Slavo We often hear government officials and mainstream financial pundits throwing around numbers like a billion or trillion. To most Americans these numbers are indiscernible. They are so incredibly enormous that we can’t even imagine what one billion dollars actually looks like, let alone what it takes to generate…
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From This Day Forward, We Will Watch How The Stock Market Performs Without The Fed’s Monetary Heroin

The Economic Collapse by Michael Snyder Mark this day on your ; The Dow is at 16974, the S&P 500 is at 1982 and the NASDAQ is at ; From this day forward, we will be looking to see how the stock market performs without the monetary heroin that the…
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How Will The Stock Market React To The End Of Quantitative Easing?

The Economic Collapse by Michael Snyder It is widely expected that the Federal Reserve is going to announce the end of quantitative easing this ; Will this represent a major turning point for the stock market?  As you will see below, since 2008 stocks have risen dramatically throughout every stage…
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Stocks Plunge 460 Points on Quantitative Easing (QE) Exit

Global Research By Mike Whitney “Financial markets are faced with uncertainty that isn’t going away. The slowdown in Europe is probably in the early innings, the Fed hasn’t begun to raise interest rates, and geopolitical crises seem to pop up by the day.” Jeff Cox, Finance editor, CNBC Six years…
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Central Banks

Deutsche Bank’s Shocking Admission: “QE In Europe Will Be Ineffective”

Zero Hedge Via Deutsche Bank's George Saravelos, Euroglut: a new phase of global imbalances This report argues that both “secular stagnation” and “normalization” are incomplete frameworks for understanding the post-crisis world. Instead, “Euroglut” – the global imbalance created by Europe’s massive current account surplus will be the defining variable for…
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Bankers

How Goldman Controls The New York Fed: 47.5 Hours Of “The Secret Goldman Sachs Tapes” Explain

Zero Hedge When nearly a year ago we reported about the case of "Goldman whistleblower" at the NY Fed, Carmen Segarra, who alleged she was wrongfully terminated after she flagged "numerous conflicts of interest and breaches of client ethics that she believed warranted a downgrade of Goldman's regulatory rating" and…
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Central Banks

A Historic First: Bank Of Japan Monetizes Debt At Negative Rates

Zero Hedge First, Europe infamously shifted to a NIRP and now Japan has begun NIRP monetization. As WSJ reports, Tuesday marked another milestone in the topsy-turvy world of monetary easing in Japan: The Bank of Japan bought short-term Japanese government debt at a negative yield for the first time. In…
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Bankers

France’s president replaces economy minister with “former” Rothschild Banker

Reuters President Francois Hollande replaced his maverick leftist economy minister with a former Rothschild partner on Tuesday, in a reshuffle intended to reconcile his efforts to revive the stagnant French economy with deficit-cutting orthodoxy. The shake-up is the latest episode in the wrangling across Europe about how much budgetary rigor…
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Central Banks

German Finance Minister Tells EU Leaders: Free Money Party’s Over

Zero Hedge Has Germany had enough? Hot on the heels of Mario Draghi's 'demands' that EU leaders undertake "structural reforms" to boost competitiveness and overcome the legacy of Europe's debt crisis, German Finance Minister Wolfgang Schaeuble unleashed perhaps the most worrisome statement tonight for all the free-money-party-goers - the music…
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Bankers

48 suspicious banking deaths

Hang The Bankers Our advice is if JP Morgan offers you a job: politley decline. The list of top level bankers dying under suspicious circumstances has been growing rapidly in recent months. Whether these are genuine deaths or something more sinister one thing is for certain, banking is becoming one of the most dangerous industries to be involved in right…
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Central Banks

Billionaire Warns: Yellen Collapse ‘Will Be Unlike Any Other’

Moneynews Another horrific stock market crash is coming, and the next bust will be “unlike any other” we have seen. That’s the message from Jeremy Grantham, co-founder and chief investment strategist of GMO, a Boston-based firm with $117 billion in assets under management. Grantham pulls no punches when assigning responsibility…
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Central Banks

Three Charts Of The Week: Money Printing Is Not Bringing Prosperity To Main Street

Zero Hedge Furious money printing by the world’s major central banks is not generating real growth and prosperity—–but professional economists never seem to get the word. As shown below, the 2014 outlook for global real growth has been marked down sharply since early ;Back then, of course, Abenomics and massive…
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Central Banks

De-Dollarization Spreads: Swiss & Chinese Central Banks Enter Swap Agreement

Martin Armstrong, Armstrong Economics The Swiss National Bank and the People’s Bank of China reached a currency swap agreement this week. While this is not a huge trend changer in the near-term, it demonstrates that our forecast for China to become the largest economy and to be the next financial…
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Bankers

Goldman Sachs Managing Director Nicholas Valtz Found Dead

Bloomberg Nicholas Valtz, a managing director in cross-asset sales at Goldman Sachs Group Inc. (GS) in New York, was found dead yesterday by family members who went searching for him after he didn’t return from a kiteboarding outing. Valtz, 39, was found in Napeague Harbor near the eastern end of…
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Central Banks

BRICS Announce $100 Billion Reserve To Bypass Fed, Developed World Central Banks

Zero Hedge As we suggested last night, the anti-dollar alliance among the BRICS has successfully created a so-called "mini-IMF" since the BRICS are clearly furious with the IMF as it stands currently: this is what the world's developing nations just said on this topic "We remain disappointed and seriously concerned with…
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Central Banks

FOMC Minutes Show Fed Fears Investors Are Too Complacent; QE To End In October

Zero Hedge Having continued to taper, expressed no fear of inflation, and been nothing but confident that Q1 was nothing-but-weather at the press conference, the FOMC Minutes: *SOME FED OFFICIALS SAW INVESTORS AS TOO COMPLACENT ON RISKS *FED SAW INSUFFICIENT INVESTOR UNCERTAINTY ON ECONOMY, RATES *FOMC SEES QE ENDING WITH…
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Central Banks

China to Set Yuan Clearing Banks in Luxembourg, Paris

Stratrisks In its continued push to make the yuan a global currency, China’s central bank said Sunday it plans to designate clearing banks for its currency in Paris and Luxembourg, as the two financial centers battle with London to become the leading European offshore yuan-trading city. The People’s Bank of…
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Central Banks

Buying Up the Planet: Out-of-control Central Banks on a Corporate Buying Spree

Ellen Brown Finance is the new form of warfare – without the expense of a military overhead and an occupation against unwilling hosts. It is a competition in credit creation to buy foreign resources, real estate, public and privatized infrastructure, bonds and corporate stock ownership. Who needs an army when…
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Central Banks

Fourth Largest Bulgarian Bank Seized After Bank Run: “Let’s Not Tear Down Our House” Central Banker Begs

Zero Hedge The small, impoverished country of Bulgaria may not be in the Eurozone (even though its currency is pegged to the Euro), but it is in the European Union. Which is why we find it surprising that there has been relatively little mention that overnight the fourth largest Bulgarian…
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Central Banks

“Cluster Of Central Banks” Have Secretly Invested $29 Trillion In The Market

Zero Hedge Another conspiracy "theory" becomes conspiracy "fact" as The FT reports "a cluster of central banking investors has become major players on world equity markets." The report, to be published this week by the Official Monetary and Financial Institutions Forum (OMFIF), confirms $ in market investments, held by 400…
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Central Banks

It Snowed In Mexico? Mexican Central Bank Unexpectedly Cuts Rate Due To “Worse Than Expected Economy”

Zero Hedge While we are led to understand that the US economy contracting at a pace not seen in three years was blamed on the snow (which somehow subtracted $100 billion in US economic growth for Q1 from early estimates of over Q1 GDP estimates), we are not sure if…
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Central Banks

European Central Bank cuts deposit rate below zero in historic move

The European Central Bank lowered its deposit rate to as the continent battles deflation after many failed monetary policy attempts. The bank said more extraordinary tools can can be used to prevent the derailment of economic recovery. The European Central Bank (ECB) cut its main refinancing rate to percent from…
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Central Banks

Slowing Euro Inflation Puts Pressure on Central Bank

Bloomberg Euro-area inflation slowed more than economists forecast in May, cranking up pressure on the European Central Bank to deploy measures as soon as this week to kindle prices and drive growth. The rate fell to percent from percent in April, the European Union’s statistics office in Luxembourg said today.…
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Central Banks

First Germany, Now Austria Demands An Audit Of Its Offshore Held Gold

Zero Hedge First it was Germany, now another AAA-rated European country is starting to get concerned about its hard assets. Overnight Bloomberg reported that following in Bundesbank's footsteps, Austria will audit its gold reserves located in the UK, which represent 80% of its total gold holdings. This gold reserve reviews…
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"Elites"

How The International Monetary Conference Helped Fuel The 1980s Debt Crisis

Occupy BY ANDREW GAVIN MARSHALL Last week, in Part 1 of the Global Power Project's investigations into the machinery behind the International Monetary Conference, I examined the history and evolution of the IMC from its founding by the American Bankers Association in 1954 to the global financial and monetary disruptions of the late 1970s.…
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"Elites"

From Rothschild To Koch Industries: Meet The People Who “Fix” The Price Of Gold

Zero Hedge Earlier today many were stunned when the historic, 117-year old, London Silver Fix announced that in three months it would no longer exist. However, silver is only one half of the world's two best known precious metals. Which is why we decided to take a long, hard look…
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Central Banks

What’s Behind the Campaign to Combat Banking Secrecy?

Strategic Culture by Valentin KATASONOV The institution of banking secrecy is on the brink of death. The destruction of the World Trade Center in New York on 11 September 2001 and the 2007-2009 financial crisis can both be considered fateful events for the future of banking ; The first event…
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Central Banks

Russia Holds “De-Dollarization Meeting”: China, Iran Willing To Drop USD From Bilateral Trade

Zero Hedge That Russia has been pushing for trade arrangements that minimize the participation (and influence) of the US dollar ever since the onset of the Ukraine crisis (and before) is no secret: this has been covered extensively on these pages before (see Gazprom Prepares "Symbolic" Bond Issue In Chinese…
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Bankers

The Biggest Secret About Banking Has Just Gone Mainstream

Washington's Blog Banks Create Money Out of Thin Air … Conferring Enormous Windfall Profits At the Expense of the People We’ve pointed out for 4 1/2 years that banks create money out of thin air. Specifically, it has now been conclusively proven that loans come first … and then deposits…
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Bad Government and Central Bank Policy Are the MAIN CA– USE of Runaway Inequality

Washington's Blog Thomas Piketty:  “Rock Star Economist” Pushes Inequality to the Forefront of Economic Discussion French economist Thomas Piketty’s book on inequality – Capital in the Twenty-First Century – has gone completely viral. Mainstream economists like Paul Krugman and Joseph Stiglitz endorse ;  So does Economist ; The Financial Times…
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Central Banks

How the Bankers Stand to Profit from the Trans-Pacific Partnership

Occupy Corporatism Concerning the future of the Trans-Pacific Partnership (TPP), the president is expected to accelerate talks and negotiations to play import/export with other nations to ensure profits for rich countries and control one-third of global trade. Payoffs for successful positioning regarding the TPP have left some bankers just a…
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Bankers

52 Year-Old French Banker Jumps To Her Death In Paris (After Questioning Her Superiors)

Zero Hedge There have been 13 senior financial services executives deaths around the world this year, but the most notable thing about the sad suicide of the 14th, a 52-year-old banker at France's Bred-Banque-Populaire, is she is the first female. As Le Parisien reports, Lydia (no surname given) jumped from…
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