The biggest banks in the US have been given advisement by US regulators that they must make plans to stave off a complete financial collapse without relying on the US government. Bank of America, Goldman Sachs and other technocrats have secretly crafted worst-case scenarios in which they can continue to thrive during a full-blown domestic monetary crisis….
According to Citigroup, US and European regulations force banks to purchase government debt; which will only lead to the debt crisis worsening. Citigroup conducted a study that showed regulators mandate banks to buy government debt against internal capital requirements. Yet other rules facilitate the stability of the government bonds market. In this scenario, the government issues more debt that…
China is buying gold with no end in sight. With their stockpiles of fiat currency called yen, China is becoming a power player in the world of precious metals. And this makes perfect sense. The BRICs countries have decided NOT to accept the US dollar as the world’s reserve currency. China will be trading in…
Jon Corzine, chief executive officer of MF Global, instructed the transfer of $200 million from their customer accounts to cover the corporation’s overdraft account with JP Morgan Chase. A memo to Congressional investigators proves this summation. The orders were emailed on October 28, 2011; just three days before the corporation collapsed. Edith O’Brien, treasurer of…
