After the 2008 global financial crisis, the U.S. Gov’t and Federal Reserve spent trillions of dollars bailing out the banks and propping up the markets. In the process, the national debt exploded to unsustainable levels and the Fed exhausted all its ammo. So with the U.S. rapidly going bankrupt, something else needed to be done to prevent the entire banking system from collapsing again. The solution: Congress enacted laws that give the U.S. Gov’t power to freeze & seize citizen bank accounts in order to save the banks. But there’s ONE asset that can’t be touched.
According to Bloomberg and other sources, the International Monetary Fund is expected to announce a reserve currency alternative to the U.S. dollar on October 20th of this year, which experts say will send hundreds of billions of dollars moving around the world, literally overnight.
According to mainstream media, the current economic crisis in Greece is due to the government spending too much money on its people that it went broke. This claim however, is a lie. It was the banks that wrecked the country so oligarchs and international corporations could benefit.
Following up on an exchange with Comptroller Thomas J. Curry, United States Senator Elizabeth Warren today sent a letter to Chairman of the Federal Reserve Ben Bernanke, Attorney General Eric Holder, and Chairman of the Securities & Exchange Commission Mary Jo White to request the disclosure of any research and analysis done on the costs to the public of settling an enforcement action without requiring an admission of guilt.
Just four years after receiving billions of dollars in government bailout money, U.S. banks are once again making record profits. But to think that everything is fine with the financial sector would be to miss a big story.
The complex machinations that pitted county treasurers against the deceptive wizards of Wall Street.
The economic situation in Greece is only continuing to worsen, as reports indicate that hospitals and care centers throughout the nation are running completely out of medicines, and many healthcare workers are now voluntarily providing care services without pay.
As everyone is well aware, Europe is an absolute mess. The gravity of the global debt crisis is getting worse and for sure it’s the end of the world as we have known it. EU trade commissioner Karel De Gucht recently said, “The endgame has begun, and how it will finish I do not know.”