Economy

Low retail sales numbers hint to economic problems ahead

Going out of business

From Filip Karinja, for Birch Gold Group Despite optimistic expectations, recent reports show that U.S. retail sales for April were flat. Many had expected that the lower-than-average gas prices would provide a lift, but even with prices plummeting by close to a whopping 50% over last year, there was no reflection in the retail …

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Billionaire hypocrite George Soros owes $7 billion in taxes

George Soros tax

The US government will crack down on little people, including Snowden, whether it’s over economics, or law breaking, while the big guys, such as George Soros and David Petraeus get a free ride, Gerald Celente the publisher of Trends Journal, told RT. One of the world’s richest people, 84-year-old George …

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U.S. dollar set to shoot next in currency war, QE4 is coming

USD dollar currency war

From Filip Karinja, for Birch Gold Group In recent years, as competition on the global market has heated up, nations around the world have joined in a currency race to the bottom – to devalue their currencies faster than those of other nations. Strangely, the United States has done the opposite; …

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Social Security will fail by next decade: Harvard Study

Social Security

The Social Security Administration projects that its trust funds will be depleted by 2033-not an optimistic forecast. But it may be even bleaker than that. New studies from Harvard and Dartmouth researchers find that the SSA’s actuarial forecasts have been consistently overstating the financial health of the program’s trust funds since 2000. …

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Greece to tax cash withdrawals

Greece cash bank run ATM

Greece has revealed it will introduce a surcharge for all cashpoint withdrawals and financial transactions in a desperate attempt to prevent citizens withdrawing their money from the country’s beleaguered banks. Ministers hope the controversial move could raise as much as €180 million, which the Athens government hopes will help the country …

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Major US retailers closing over 6000 stores

Radioshack

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 …

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The ‘War on Cash’ has begun

War on cash

From Filip Karinja, for Birch Gold Group Forget the ‘war on terror’ or even the ‘war on drugs’. There is a new war in town: The ‘war on cash’. JP Morgan Chase recently informed some of its customers that cash can no longer be stored in their safety deposit boxes. In …

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JP Morgan accumulating world’s largest physical silver hoard

Jamie Dimon JP Morgan

Why in the world has JP Morgan accumulated more than 55 million ounces of physical silver? Since early 2012, JP Morgan’s stockpile has grown from less than 5 million ounces of physical silver to more than 55 million ounces of physical silver. Clearly, someone over at JP Morgan is convinced that physical silver is a great …

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Iran and Russia officially ditch the dollar

Russian President Vladimir Putin with Iranian President Hassan Rouhani

Bank officials in Iran said on Sunday that a mechanism to transfer money to the country’s banks from Russia is now on stream. Gholam-Reza Panahi, the deputy governor for currency affairs of Bank Melli of Iran (BMI), said the mechanism enables Iranian exporters to transfer payments in rubles from their Russian …

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Deutsche Bank fined a record $2.5bn for Libor rate-rigging

Deutsche Bank

German banking giant Deutsche Bank will pay a record $2.5 billion for rigging interest rates in a multi-bank conspiracy that undermined global financial markets, US and British authorities said Thursday. “Deutsche Bank secretly conspired with its competitors to rig the benchmark interest rates at the heart of the global financial …

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