Dominoes Falling At Big Banks That Rigged Precious Metals Markets

By Clint Siegner – Re-Blogged From Gold Eagle

The crooked precious metals trading department at JPMorgan Chase lost another man last week. Christian Trunz pleaded guilty to criminal “spoofing” of the markets and resigned from his position as an Executive Director with the bank.

The story mirrors that of John Edmonds, the Chase banker who pleaded guilty last October for rigging gold and silver prices.

Like Edmonds’ illicit trading activity, Trunz’s was pervasive. It spanned nearly a decade – from 2007 through 2016 – and involved many “thousands” of orders.

Continue reading

Reading the Next Recession

Here is a journey in photos and facts to compare the present Great Recession with the past Great Depression to gain perspective on where we might be headed.

Just as we had two great world wars, we might have two great depressions, the last of which we started out calling “The Great Recession” because, at the time, we didn’t know where it would end up or how long it would continue. Remember that World War I did not start off being called WWI. It was originally called “The Great War.”

Is Turkey The Snowflake That Unleashes The European Banking System Avalanche?

By Mark O’Byrne – Re-Blogged From Gold Eagle

Kicking Wells Fargo When They Are Down

By Rick Ackerman– Re-Blogged From Gold Eagle

As much as Democrats love wagging their fingers at all of us racists, homophobes and climate-changers, their first love, borne of longstanding political tradition, is kicking fallen bankers in the nuts. It doesn’t hurt that in the eyes of the Democrats and America’s flourishing grievance industry, many of the perps happen to be privileged white men. Wells Fargo’s bankers in particular have been bludgeoned worse than a pinata at a Cinco de Mayo party, and last summer they paid $575 million to end investigations by 50 states and the District of Columbia.

What did Wells do to deserve this shakedown? I can answer that question from personal experience, since I was one of the alleged victims. I came to possess about a dozen accounts at Wells, including business and personal checking, credit and debit cards attached to each, assorted savings accounts and related “plastic”. I didn’t need so many accounts, but Wells cheerfully opened them for me anyway over a period of several years, ostensibly so that I could enjoy all the features and privileges associated with each.

Continue reading

Retail Apocalypse and Carmageddon Continue to Pick up Speed

By David Haggith – Re-Blogged From Great Recession Blog

We now know that the Retail Apocalypse took another trip downhill during the all-important holiday season. December reports show retail sales declined more in one month than they have since … the Great Recession. Notice what a common refrain that comparison has become.

Retail Apocalypse snowballs downhill

Retail sales dropped 1.2% month-over-month in December, the largest drop since September 2009, according to data from the Census Bureau released Thursday. The dip was broadly unexpected – consensus estimates had foreseen a 0.1% increase in retail sales for the month, according to Bloomberg data. Excluding autos and gas, which can be volatile, core retail sales plunged 1.8%. “[The] fall in retail sales in December was every bit as bad as it looks,” Capital Economics’ Michael Pearce said bluntly. The weakness was broad-based.

Yahoo!

Continue reading

Gold, Currency IOUs And Inflation

By Gary Christenson – Re-Blogged From Gold Eagle

The financial world runs on “funny money” or debt based currencies. More currency = more debt. How much debt? In a word – “unimaginable.” But another important word we should consider is “unsustainable.” WHY?

The world abandoned gold backing and replaced it with debt based currencies. Those dollar bills, yen, euros etc. are DEBTS issued by your central bank. They are as valuable as… someone believes they are. Unlike gold or silver coins, they have no intrinsic value.

Continue reading

Australia’s Banking System May Go BOOM!

By Nick Hubble – Re-Blogged From Silver Phoenix

We’re edging ever closer to the financial crisis I’ve been investigating since 2012. I moved to four different cities in Australia to conduct my research, interviewing mortgage brokers and former bankers over four years.

Over the last few months, a Royal Commission has exposed what my research did back then. But the campaigner who first exposed the issue going back to the early 2000s continues to discover even more extraordinary facts.

Continue reading