Thursday, August 22, 2019

Goldman Sachs and JPMorgan Have Flagrantly Flaunted the Volcker Rule for Nine Years: Now It’s to Be Gutted by Federal Regulators

by Pam Martens and Russ Martens, Wall St On Parade:

Two of Wall Street’s crony regulatorsannounced today that they are going to “simplify” the Volcker Rule’s ban on proprietary trading at Wall Street banks, providing another big win for Wall Street and another big nightmare for Main Street.

The financial crash on Wall Street in 2008 was the deepest economic upheaval in the U.S. since the Great Depression. Millions of honest, hardworking Americans lost their jobs, and then their homes, as a result of the economic collapse. Many of these Americans have yet to fully recover financially after more than a decade has passed.

When It Comes To The U.S. Economy, Everyone Wants To Pin The Credit Or The Blame On Donald Trump

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by Michael Snyder, The Economic Collapse Blog:

No matter what happens with the U.S. economy, most of the credit or the blame is going to go to President Trump.  And now that the U.S. economy appears to be headed for big trouble, the mainstream media is salivating over what this could mean for Trump’s chances of winning in 2020.  Within the past few days, the New York Times, the Washington Post, CNN, MSNBC and Fox News have all run stories about Trump and the economy, and they are all perpetuating the false premise that presidents should be held accountable for how the economy performs.  As I have repeatedly reminded my readers, the truth is that U.S. presidents generally have relatively little control over the direction of the economy.

A HONG KONG CITIZEN AND A BRITISH EMBASSY EMPLOYEE DETAINED IN SHENZHEN AND HIS WHEREABOUTS ARE UNKNOWN..A POTENTIAL POWDER KEG!

by Harvey Organ, Harvey Organ Blog:

DOW REVERSES COURSE DOWN 174 POINTS//GOLD UP $2.90 BUT SILVER THE STAR, UP 20 CENTS/A HONG KONG CITIZEN AND A BRITISH EMBASSY EMPLOYEE DETAINED IN SHENZHEN AND HIS WHEREABOUTS ARE UNKNOWN..A POTENTIAL POWDER KEG!// ITALY’S CONTE RESIGNS AND NOW THE PRESIDENT WILL CALL ON NEW ELECTIONS AS THE FUN BEGINS IN ITALY//AMAZING: MISS NEVADA NOT ALLOWED TO COMPETE IN THIS YEAR’S MISS AMERICA CONTEST BECAUSE OF HER PRO TRUMP VIEWS

Chicago Teachers Union delegation praises Maduro, socialism during trip to Venezuela

by Victor Skinner, American Mirror:

Three teachers and a union organizer flew to Venezuela to study the country’s successes in government and education in person, and now they’re taking heat for using the union’s name “on what appears to be a state-chaperoned propaganda tour.”

Chicago teacher and member of the Chicago Teachers Union, Karen Moody, is among dozens of union teachers who are complaining about a self-described “CTU Delegation to Venezuela” last month that’s distorting reality in the failed South American state to tout the alleged successes of socialism.

Multinational Business Roundtable Now Claims “Social Responsibility” More Important than Profit….

from The Conservative Treehouse:

CTH suspected this was going to happen. This was predictable if you have followed the fracture between Main Street (Trump) and Wall Street (multinationals).  Remember, there are trillions at stake.  This news today is part of the battle.

Here’s the cut through the BS motive behind the multinational association of Business Roundtable CEO’s (these are all pure Wall St.) suddenly saying “social responsibility should be put above profit“…

Mobius: Buy Gold at Any Level!

by Peter Schiff, Schiff Gold:

Last week we reported that the mainstream is turning bullish on gold, and in recent months, a number of prominent investors including Paul Tudor JonesThomas Kaplan and David Roche have all talked up the yellow metal. This week, we have another well-known veteran investor saying buy gold.

During an interview with Bloomberg, Mark Mobius said that at this point investors should buy gold “at any level.”

I think gold long-term prospect is up, up, and up.”

JPMorgan Spoofer Pleads Guilty To Gold Manipulation, Faces 11 Years In Jail

from ZeroHedge:

There was a time when the merest mention of gold manipulation in “reputable” media was enough to have one branded a perpetual conspiracy theorist with a tinfoil farm out back. That was roughly coincident with a time when Libor, FX, mortgage, and bond market manipulation was also considered unthinkable, when High Frequency Traders were believed to “provide liquidity”, when the stock market was said to not be manipulated by the Fed, and when the ever-confused media, always eager to take “complicated” financial concepts at the face value set by a self-serving establishment, never dared to question anything.

Are Recessions Inevitable?

by Ron Paul, Ron Paul Institute:

Stocks fell last week following news that the yield curve on Treasury notes had inverted. This means that a short-term Treasury note was paying higher interest rates than long-term Treasury note. An inverted yield curve is widely seen as a sign of an impending recession.

Some economic commentators reacted to the inverted yield curve by parroting the Keynesian propaganda that recessions are an inevitable feature of a free-market economy, whose negative effects can only be mitigated by the Federal Reserve. Like much of the conventional economic wisdom, the idea that recessions are caused by the free market and cured by the Federal Reserve is the exact opposite of the truth.