Cash on Lockdown: Bankers “Want Badly to Charge YOU Interest for Depositing YOUR Funds”

Posted on May 15th, 2015

Dollars LockedBy Max Slavo

SHTF has been closely following the recent calls from Wall Street to ban cash and implement a system that would force everyone to operate on the grid, even as interest rates have hit negative and customers are actually charged for keeping money in the bank.

For most observers, negative interest rates signals a bizarre and unsustainable economic landscape, but for those calling the shots, the negative rates are a necessary by-products of capital injections by the Federal Reserve over the course of its quantitative easing operations.

The biggest problem with these negative rates – besides the fact that they defy logic and send the wrong signals to investors – is that there is every reason to withdraw cash and stash it, rather than be charged to keep deposits in the bank.

But that’s exactly what the system wants to FORCE you to do. Money Metals Exchange explains it well:

The Federal Reserve bank and its owners, the largest banks on Wall Street, want badly to be able to charge you interest for the privilege of depositing your funds. The problem is getting you to stand for it.

Read More..

Mediocre Is The New Perfect

Posted on May 13th, 2015

Part-time jobs unemployment by Nate Beeler, The Columbus DispatchBy John Rubino

Three things happened this (Friday) morning: The Labor Department reported a big jump employment; the financial markets responded like kids on Christmas morning; and — with a few hours lag — level-headed analysts deconstructed the jobs report and found it to be mediocre at best.

To take just a few of the high (or low) points:

  • Americans are still leaving the labor force
  • Most of the new jobs created are part-time
  • The vast majority of those are in services, which is to say waiters and bartenders and such
  • Most new hires are over 55

Money managers can of course do this analysis and reach the same conclusion, which is that the US labor market remains a mess, with a predominance of old and/or low-paid service drones where well-paid factory workers and bankers used to be. So why did the financial markets pop on this news?

Because mediocre is the now the new perfect. The best-case environment for stocks and bonds is an economy that is growing just enough to stave off a collapse in corporate profits but not fast enough to goad the Fed into tightening. Read More..

Major U.S. Retailers Are Closing More Than 6,000 Stores

Posted on May 7th, 2015

Closed Public, Entrance locked, gates lockedBy Michael Snyder

If the U.S. economy really is improving, then why are big U.S. retailers permanently shutting down thousands of stores?  The “retail apocalypse” that I have written about so frequently appears to be accelerating.  As you will see below, major U.S. retailers have announced that they are closing more than 6,000 locations, but economic conditions in this country are still fairly stable.  So if this is happening already, what are things going to look like once the next recession strikes?  For a long time, I have been pointing to 2015 as a major “turning point” for the U.S. economy, and I still feel that way.  And since I started The Economic Collapse Blog at the end of 2009, I have never seen as many indications that we are headed into another major economic downturn as I do right now.  If retailers are closing this many stores already, what are our malls and shopping centers going to look like a few years from now? Read More..

Obama Administration: Times Square’s Iconic Billboards Must Be Removed or Else

Posted on May 7th, 2015

WAIMH Red ArrowFeds To Enforce 1965 Highway Beautification Act, Could Deny NYC $90 Million In Funding

By CBS New York

The feds say many of Times Square’s huge and neon-lit billboards must come down or the city will lose about $90 million in federal highway money.

You can call it a bureaucratic blunder … or a Washington blooper.

But any way you slice it a move by the federal government to make the city remove Times Square’s iconic billboards falls in the category of “whose bright idea is this?” Read More..

America’s Military Power in a Steep Decline

Posted on May 1st, 2015

Silhouette US military troops American flagBy Alan Caruba

Eliminating the terrorists of today with force will not guarantee protection from the terrorists of tomorrow. We have to transform the environments that give birth to these movements…It may be training young people so they can get jobs…it may be working to eliminate corruption and promote the rule of law…”

The Obama administration proposal that a jobs program be created for the militants in the Middle East was met with appropriate derision because what the jihadists need is killing. That’s what they are doing to Christians, Jews and others in the Middle East and elsewhere.

The quote above is by John Kerry, the Secretary of State, and to be fair, his February 18 Wall Street Journal commentary began by saying “The rise of violent extremism represents the pre-eminent challenge of the young 21st Century. Military force is a rational and often necessary response to the wanton slaughters of children, mass kidnappings of schoolgirls, and beheading of innocents. But military force along won’t achieve victory.”

Kerry is wrong. History as recent as the mid-20th century is proof enough that the military defeat of Nazi Germany and the Empire of Japan was the only thing that ended the threat they represented. He was also wrong when he told a congressional committee that the world is a safer place these days when it is clear to anyone it is not. Read More..

The Very Weak Growth in First Quarter Shows How Weak the Economic Recovery Is

Posted on April 30th, 2015

Obama economy farms by Rick McKee, The Augusta ChronicleBy Curtis DuBay

In the first quarter of 2015 (January, February and March), the economy exhibited weakness that has become all too common during the Obama era. The Bureau of Economic Analysis reports that the economy grew at just 0.2 percent during that time.

At 0.2 percent growth, the economy was dangerously close to not growing at all, or even contracting. This is a first estimate from the Bureau of Economic Analysis and subsequent estimates could show the economy grew stronger, or, troublingly, was actually shrinking.

Consumption in the first quarter was relatively strong compared to other sectors of the economy, but fell compared to the previous quarter. Declines in business investment and exports were large factors contributing to the anemic GDP growth. Read More..

“There Will Be a More Volatile Crisis”: JPMorgan Chief Signals Coming Financial Tsunami

Posted on April 28th, 2015

Computer screen financial institution unavailableBy Max Slavo

Earth shaking words from a giant on Wall Street.

The insiders know the next collapse is coming. What form it takes may remain a surprise to account holders and investors who are not on guard.

But JPMorgan Chase chairman and CEO Jamie Dimon is positioning his firm to pick up the pieces after it hits.

A loud warning from a person who may be considered a de facto spokesman for the insiders who prevail on Wall Street, Dimon’s comments are more than just precautionary and foreboding – they spell out the mechanism with which the big banks and the technocratic controllers will seize and concentrate power during the next crisis. Read More..

Why Are So Many Employers Unable to Fill Jobs?

Posted on April 17th, 2015

Workers UnemployedBy Stephen Moore

The great conundrum of the U.S. economy today is that we have record numbers of working age people out of the labor force at the same time we have businesses desperately trying to find workers.

As an example, the American Transportation Research Institute estimates there are 30,000-35,000 trucker jobs that could be filled tomorrow if workers would take these jobs- a shortage that could rise to 240,000 by 2022. Read More..

Can Obama Raise Your Taxes Without Congressional Approval?

Posted on April 8th, 2015

US President Barack Obama meets with Secretary of Defense Ashton Carter

By Kate Scanlon

The U.S. Constitution requires that tax bills originate in the House of Representatives. So could President Obama really impose a tax hike on Americans through executive action?

White House Press Secretary Josh Earnest said Monday that Obama is “very interested” in raising taxes without congressional approval, according to a report by Townhall.

Recently, Sen. Bernie Sanders, I-Vt., sent a letter to the president, advocating that the administration “act on its own” to close tax “loopholes.” Read More..

The IRS Scandal: No Justice from the Justice Department

Posted on April 7th, 2015

Lois Lerner Testifying Before US House Oversight Cmte in 2014By Jay Sekulow

I have said it before — the Obama administration’s Internal Revenue Service is institutionally incapable of self-correction. 

And, now it is even clearer that the Obama administration’s Department of Justice is incapable of holding accountable those responsible for a massive illegal targeting scheme. Even worse, its own involvement in the scandal not only means that it can’t properly investigate the IRS, it should instead be investigated for cooperating with the IRS in its campaign of censorship and oppression. Read More..

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