In this week’s episode of “Scheer Intelligence,” host and Truthdig Editor in Chief Robert Scheer talks with Nomi Prins about her latest and, in Scheer’s words, “most ambitious” book, “Collusion: How Central Bankers Rigged the World.” The two discuss the 2008 financial crisis and the disconnect between governments and the governed, as well as Prins’ […]
Inflation Reaches Key Threshold for Fed Rate Hikes…
Inflation for the first time in several years has increased to the Federal Reserve’s annual target, the Commerce Department reported Monday, reaching a key threshold for the future of U.S. interest rates. The personal consumption expenditures (PCE) index, the Fed’s inflation barometer, increased 2 percent in the 12-month period ending in March, according to data […]
Why the World’s Central Banks hold Gold – In Their Own Words…
Collectively, the central bank sector claims to hold the world’s largest above ground gold bar stockpile, some 33,800 tonnes of gold bars. Individually within this group, some central banks claim to be the top holders of gold bullion in the world, with individual holdings in the thousands of tonnes range. This worldwide central bank group, […]
Fed Comes A Little Bit Closer To Taylor Rule…
Yes, Jay (Powell) and the Americans (FOMC) came a little bit closer to The Taylor Rule (Rudebusch Model) with the FOMC voting to increase their target rate to 1.75%. The lower bound is now 1.50%. The Taylor Rule (Rudebusch Model) calls for a Fed Funds Target rate of 6.62%. Only 447 basis points left to […]
Stockman: $1.8 Trillion in New Treasury Debt Will Hit Bond Pits “Like a Tornado”…
Investors have been whiplashed so far this week and it’s only Wednesday morning. On Monday, the Dow rocketed ahead by 399 points. On Tuesday, it plunged by 299 points. What changed investor sentiment so dramatically in 24 hours? David Stockman, the former Director of the Office of Management and Budget under President Ronald Reagan who […]
The Federal Government Can’t Account for $21 Trillion. Does Anybody Care?…
On September 10, 2001, then Secretary of the Department of Defense Donald Rumsfeld said that for the 1999 DOD budget, “According to some estimates, we cannot track $2.3 trillion in transactions.” The War On Waste The following day the US sustained the terrorist attacks that forever changed our world, and this startling revelation was largely […]
Swan Song Of The Central Bankers, Part 2: Yellen’s “My Girl”…
If you wonder why things are going to get a lot worse before they get better—just consider the following tidbit from today’s political gleanings. It essentially cements the case that Washington is heading straight into a bond market conflagration that will wreak havoc on the Wall Street end of the Acela Corridor. It seems that […]
Fed’s Crackdown on Wells Fargo Will Curb 2018 Profit by $400 Million…
The Federal Reserve’s decision to cap Wells Fargo growth until it sufficiently improves corporate oversight in the wake of a fake accounts scandal will curb the lender’s profit by as much as $400 million this year, CEO Tim Sloan said. The directive, announced after the close of New York trading on Friday, requires the San […]
U.S. GDP Annual Rate Increases to 2.6 Percent…
Real gross domestic product (GDP) increased at an annual rate of 2.6 percent in the fourth quarter of 2017 (table 1), according to the “advance” estimate released by the Bureau of Economic Analysis. In the third quarter, real GDP increased 3.2 percent. The Bureau emphasized that the fourth-quarter advance estimate released today is based on […]
Senate Approves Jerome Powell as Fed Chair…
The U.S. Senate on Tuesday voted to confirm Jerome Powell as the next chairman of the Federal Reserve. Powell will assume the role of the central bank’s top official in February, replacing Janet Yellen, after the Senate voted 85-12. President Donald Trump chose Powell, a member of the Fed’s board of governors, as his nominee […]
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