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Latest Articles: Business/Finance
Peter Schiff: Weak Economy Will Force Fed to Reverse Tapering
Post Date: 2013-12-23 21:38:50 by BTP Holdings
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Peter Schiff: Weak Economy Will Force Fed to Reverse Tapering Monday, 23 Dec 2013 07:30 AM By Dan Weil The economy won't be able to stand on its own two feet without quantitative easing (QE), leading the Federal Reserve to reverse its tapering, says Peter Schiff, CEO of Euro Pacific Capital. The Fed announced Wednesday that it is cutting its monthly bond purchases by $10 billion to total $75 billion. "The $10 billion reduction has convinced many that the QE program will soon become a thing of the past," Schiff writes in a guest column for Yahoo. "At his press conference [Fed Chairman Ben] Bernanke affirmed that he expects QE to be fully wound down by the end of 20 ...
Banks Mostly Avoid Providing Bitcoin Services
Post Date: 2013-12-23 21:19:11 by BTP Holdings
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Banks Mostly Avoid Providing Bitcoin Services The Wall Street Journal By Robin Sidel December 22, 2013 4:32 PM Companies trying to cash in on the newfangled bitcoin craze are having trouble getting old-fashioned bank accounts. Lenders are leery of dealing with virtual-currency companies because of concerns that the businesses could run afoul of anti-money-laundering laws or be involved in illegal activities, banking executives say. Regulators and central bankers around the world have raised similar concerns in recent months. The problem has grown so acute that some owners of fledgling virtual-currency businesses are trying to elude bank scrutiny by avoiding the words ...
100 Years Ago: Why Bankers Created the Fed
Post Date: 2013-12-23 19:01:02 by BTP Holdings
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100 Years Ago: Why Bankers Created the Fed by Christopher Westley The Democratic Party gained prominence in the first half of the nineteenth century as being the party that opposed the Second Bank of the United States. In the process, it tapped into an anti-state sentiment that proved so strong that we wouldn't see another like it until the next century. Its adversaries were Whig politicians who defended the bank and its ability to grow the government and their own personal fortunes at the same time. They were, in fact, quite open about these arrangements. It was considered standard-operating procedure for Whig representatives to receive monetary compensation for their support of the ...
100 Years of Financial Terrorism
Post Date: 2013-12-23 02:55:40 by Stephen Lendman
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100 Years of Financial Terrorism by Stephen Lendman December 23, 1913 will live in infamy. Three days before Christmas, House members passed the Federal Reserve Act (FSA). On December 23, Senate members did so. President Woodrow Wilson was a tool of big money. He was JP Morgan's man in Washington. He signed FSA into law straightaway. He acted disgracefully. So did Congress. It passed FSA in the middle of the night. Most congressional members hadn't read it. They wouldn't have understood it anyway. It was cleverly worded to deceive them. Only its creators knew its purpose. Ellen Brown explained what happened as follows: "In plain English, the Federal Reserve Act ...
beware the Bitcoin, Currently More Volatile than a Penny Stock
Post Date: 2013-12-22 09:58:22 by BTP Holdings
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Urgent Warning on Bitcoin: Promoters Pushing It Like a Penny Stock Precious Metals Market Update Bitcoin chart Bitcoin's chart looks like a penny stock right after its promoters send out 10 million emails. Not long ago, we gave you the inside skinny on Bitcoin -- both its strengths and weaknesses. However, the deluge of promotional emails and ads we've witnessed in the past few weeks has compelled us to revisit the issue. We're frankly concerned people could get hurt financially. Free-market analyst Bill Fleckenstein, an MSN columnist and investment manager, appeared on KWN last week and labeled the cryptocurrency a "chain letter" that has even less backing ...
Silver Guru Unveils 2014 Forecast, Blasts Fed
Post Date: 2013-12-22 09:31:49 by BTP Holdings
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Click on the link above to listen to podcast, or read text.
Bracing for An Eventual Day of Reckoning
Post Date: 2013-12-19 03:00:21 by Stephen Lendman
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Bracing for An Eventual Day of Reckoning by Stephen Lendman Financial markets today reflect a total disconnect from reality. Former Reagan administration Office of Management and Budget director, David Stockman, calls the Fed "a serial bubble machine." "It's only a question of time before central banks lose control," he warns. He expects "panic when people realize that (market) values are massively overstated." They're "extremely dangerous, unstable, and subject to serious trouble and dislocation in the future," he stresses. The Fed is responsible for "exporting lunatic policies worldwide." All bubbles burst. They end badly. For ...
Time to End America's Century of Central Bank Mismanagement
Post Date: 2013-12-17 18:54:28 by BTP Holdings
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Time to End America's Century of Central Bank Mismanagement By Richard Ebeling Tuesday, December 17, 2013 Please Enable Images to See this One hundred years ago this month, on December 23, 1913, the Congress passed the Federal Reserve Act, establishing a national central-banking system in the United States. The governing board of the Federal Reserve was organized on August 12, 1914, and the Federal Reserve banks opened for operation on November 16, 1914. On the surface, the preamble to the Act, which summarized the purpose of the new government-created institution, seemed fairly innocuous: "An Act to provide for the establishment of Federal reserve banks, to furnish an ...
Tehran stock market sets new record
Post Date: 2013-12-17 03:59:41 by Tatarewicz
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PressTV... Tehran’s stock exchange market has set a new record in trading volume, hitting the 88,169-unit mark after a daily trade volume increase of 1,144 units. The record was set during Monday morning trade in the Tehran stock market; marking the 50th time in the current Iranian calendar year (ending on March 20, 2014) the daily trading volume has climbed by more than a thousand units. The Tehran stock market began the year from 38,000 units and has so far this year brought its investors about 130 percent in profits. By 11 a.m. on Monday morning, 523 million shares worth 2,230 billion Rials (nearly USD9 billion) were traded at the Tehran stock market. The value of the Iranian ...
Revealing the Fool’s “Silicon Valley Oil Superstar: 1 Company Pulling Profits Out of Thin Air”
Post Date: 2013-12-17 03:06:12 by Tatarewicz
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Checking out the latest teaser pitch from Motley Fool Hidden Gems Posted on December 16, 2013 by Travis Johnson, Stock Gumshoe XWelcome! If you are new to Stock Gumshoe, grab a free membership here and join us to get our free newsletter alerts with new teaser answers and debunkings. So let’s get to another one, shall we? This time it’s a pitch from the Motley Fool’s Hidden Gems newsletter, which has been sort of a quiet underachiever in recent years — this is the Fool’s small cap “value” newsletter that used to be run by Fool founding brother Tom Gardner, but it has been through a series of editors since he refocused on other things. In the early 2000s ...
Who Was Robert Levinson Working For?
Post Date: 2013-12-16 12:05:46 by Ada
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A spy story with all the bells and whistles: money-laundering, organized crime, and "rogue" CIA agents In August of 2007, former FBI agent and freelance investigator Robert Levinson traveled to the Iranian island of Kish, a resort hangout for smugglers and various dubious characters as well as tourists – and promptly vanished. For years, the US government stoutly maintained Levinson was on a private business trip, but now it turns out he was on a mission launched by a "rogue" CIA unit to gather intelligence about the "corruption" of moderate Iranian leader and former President Akbar Hashemi Rafsanjani. The Associated Press, which broke the story, has ...
China to expand OTC market
Post Date: 2013-12-15 03:14:00 by Tatarewicz
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BEIJING, Dec. 14 (Xinhua) -- China has decided to expand its over-the-counter (OTC) market to all qualified small and medium-sized enterprises (SMEs), according to an official statement released on Saturday. The State Council, China's Cabinet, announced that the OTC market, a national share transfer system for SMEs that is also known as the New Third Board will be expanded to cover all innovative and promising companies. Qualified companies can apply for listing on the board for public share transfer so as to realize equity and bond financing as well as asset restructuring, according to the statement. The companies should ensure accurate and complete information disclosure on their ...
Rigging Foreign Exchange Markets
Post Date: 2013-12-15 03:03:01 by Stephen Lendman
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Rigging Foreign Exchange Markets by Stephen Lendman It's the world's largest financial market. It trades around $5 trillion daily. It's more than all global equity markets combined. It operates round-the-clock. It's manipulated for profit. More on that below. Grand theft reflects official Wall Street policy. It's longstanding. High crimes go unpunished. Bankers make money the old-fashioned way. They steal it. They do it lots of clever ways. They do it through fraud, grand theft, market manipulation, front-running, misrepresentation, scamming investors, naked short selling, precious metals price suppression, controlling Washington, getting open-ended low or no ...
Texas Community Bank, The Woodlands, Texas, Becomes 24th Bank Failure of 2013
Post Date: 2013-12-14 07:50:49 by Tatarewicz
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TexasTexas Community Bank, National Association, The Woodlands, Texas, was closed today by the Office of the Comptroller of the Currency. The FDIC, appointed as receiver for the failed bank, sold Texas Community to Spirit of Texas Bank, College Station, Texas, which will assume all deposits of the failed bank. Founded in September 2002, Texas Community Bank was relatively small with only two branches and $160.1 million in assets at the time of closing. The failed bank’s branches will reopen as branches of Spirit of Texas Bank. All depositors of Texas Community Bank will automatically become depositors of Spirit of Texas Bank with uninterrupted FDIC deposit insurance coverage up to ...
Bitcoin Investment Fund Manager: Wall Street Set to Plunge Into Digital Currency
Post Date: 2013-12-13 18:07:33 by BTP Holdings
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Bitcoin Investment Fund Manager: Wall Street Set to Plunge Into Digital Currency Friday, 13 Dec 2013 09:53 AM By Dan Weil Investors are poised to plough major dollars into Bitcoin investments, says Barry Silbert, founder of such an investment vehicle — Bitcoin Investment Trust (BIT). BIT allows institutional investors to invest in bitcoins without holding the currency themselves. "We launched six weeks ago and we're up to $70 million. That blows my mind. We were hoping to get to $10 million by the end of the year," Silbert said at a recent private dinner to discuss the currency, http://Entreprenreur.com reports. He sees many more investors ready to take the plunge. ...
Alarming Gov't Plan to Confiscate Your Savings
Post Date: 2013-12-13 07:24:55 by BTP Holdings
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Alarming Gov't Plan to Confiscate Your Savings Written by Damon Geller Governments have been confiscating citizens’ savings for decades through deficits, inflation and outright theft, and it's about to get worse. Bankrupt governments will do whatever is necessary to survive and feed the welfare state, and they have never been more bankrupt than they are right now. Look no further than Poland confiscating half of citizen pensions. If you knew the government was going to steal your savings from you, would you do anything differently to protect your savings now? It’s an important question to think about now, because they ARE coming for your money, and some newly-discovered ...
Bitcoin: Anonymously genius
Post Date: 2013-12-12 04:16:05 by Tatarewicz
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Pravda: Young digital currency Bitcoin has been gaining popularity rapidly. It is believed that it may even make the US dollar move over as time goes by. However, there is one embarrassing detail: the currency circulates on condition of anonymity, which means that it can be used for criminal purposes. Bitcoin is used in transaction of drug traffickers, casino owners and killers. The popularity of the digital crypto-currency Bitcoin grows every day, along with its price. At the moment, the new currency has managed to establish itself as the most valuable currency in the world. The cost of one Bitcoin reached $700 in November, taking into consideration the fact that it cost only $13 dollars ...
GB names its first female CEO
Post Date: 2013-12-11 07:46:17 by Tatarewicz
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Chief of product development Mary Barra will replace the retiring Dan Akerson. Comments 4 Mary Barra led the development of such critically acclaimed models as the seventh-generation Corvette, GM¿s new truck lineup, two new rear-wheel-drive Cadillac sedans and the 2014 Impala.Mary Barra, who started at General Motors Co. as a teenager and played a key role in the automaker's post-bailout turnaround, will become the first female chief executive in the company's history. Despite the groundbreaking nature of her appointment, announced Tuesday, Barra in many ways represents the ultimate insider. The Michigan-born daughter of a Pontiac die-maker, Barra grew up loving Camaros and ...
Bitcoin Proves The Libertarian Idea Of Paradise Would Be Hell On Earth
Post Date: 2013-12-11 04:10:35 by Tatarewicz
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MORE FROM BUSINESS INSDER •The 22 Best Tech Companies To Work For, According To Employees•This Is What It Would Be Like To Have A Robot That Loves You•Bitcoin Proves The Libertarian Idea Of Paradise Would Be Hell On Earth•NASA Scientists Have Built Their Own Robotic Woman•This Dating App Combines The Best Of Tinder And OKCupid(Page 1 of 2) Libertarians love Bitcoin. About 44% of the online crypto-currency's users self-identify as Libertarians. They love the fact that it's not controlled by a government or central bank — so no online Fed can "print" more of it and inflate our way out of trouble. They love that it's decentralized; ...
Philly Fed's Plosser: Job Data Positive; It's Time to Exit QE
Post Date: 2013-12-08 19:34:59 by BTP Holdings
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Philly Fed's Plosser: Job Data Positive; It's Time to Exit QE Friday, 06 Dec 2013 11:46 AM The stronger-than-expected U.S. jobs data reported Friday are an optimistic sign for the economy, and the Federal Reserve should start exiting its quantitative easing (QE) program, says Philadelphia Fed President Charles Plosser. As for the employment data, non-farm payrolls gained 203,000 in November, and the unemployment rate fell to a five-year low of 7 percent. "We're continuing to make slow progress," Plosser tells CNBC. "I don't get too excited over one month's number, but it is in a good direction." Editor’s Note: Obama Donor Banned This ...
Bali global trade deal benefits everyone: experts
Post Date: 2013-12-08 00:27:27 by Tatarewicz
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BALI, Indonesia, Dec. 7 (Xinhua) -- The global trade deal clinched by ministers of the WTO's 159 members here marks the victory for the World Trade Organization (WTO) and benefits everyone, diplomats and experts shared with Xinhua Saturday. The bulk of the trade deal or the Bali Package was signed to streamline trade, give developing countries more options for food security, boost least developed countries' trade and help development more generally. The agreement, the "low-hanging fruit" of the Doha round of talks, which was expected to be achieved by trade ministers of the ninth ministerial meeting of the WTO at the closing ceremony Friday afternoon, was sealed the ...
Ghost Of 1929 Re-Appears - Pay Attention To The Signals
Post Date: 2013-12-07 23:05:01 by X-15
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They say those who forget the lessons of history are doomed to repeat them. As a student of market history, I’ve seen that maxim made true time and again. The cycle swings fear back to greed. The overcautious become the overzealous. And at the top, the story is always the same: Too much credit, too much speculation, the suspension of disbelief, and the spread of the idea that this time is different. It doesn’t matter whether it was the expansion of railroads heading into the crash of 1893 or the excitement over the consolidation of the steel industry in 1901 or the mixing of speculation and banking heading into 1907. Or whether it involves an epic expansion of mortgage credit, ...
Iceland thumbs nose at international opposition to advance $1.2bn debt relief plan
Post Date: 2013-12-07 07:47:27 by Tatarewicz
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Iceland’s government has announced that it will be writing off up to 24,000 euros ($32,600) of every household’s mortgage, fulfilling its election promise, despite overwhelming criticism from international financial institutions. The measure was introduced by the country’s prime minister, Sigmundur David Gunnlaugsson, the leader of the Progressive Party which won the late-April elections on a promise of household debt relief. According to the government’s website the household debt will be reduced by 13 percent on average. Citizens of Iceland have been suffering from debt since the 2008 financial crisis, which led to high borrowing costs after the collapse of the ...
Mandela's Disturbing Legacy
Post Date: 2013-12-07 02:56:57 by Stephen Lendman
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Mandela's Disturbing Legacy by Stephen Lendman On December 5, Mandela died peacefully at home in Johannesburg. Cause of death was respiratory failure. He was 95. Supporters called him a dreamer of big dreams. His legacy fell woefully short. More on that below. The Nelson Mandela Foundation, Nelson Mandela Children's Fund, and Mandela Rhodes Foundation issued the following statement: "It is with the deepest regret that we have learned of the passing of our founder, Nelson Rolihlahla Mandela - Madiba." "The Presidency of the Republic of South Africa will shortly make further official announcements." "We want to express our sadness at this time. No words ...
The Challenge Is Growth, Not Inequality, Mr. President
Post Date: 2013-12-06 21:01:36 by BTP Holdings
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The Challenge Is Growth, Not Inequality, Mr. President Thursday, 05 Dec 2013 06:20 PM By Larry Kudlow Either President Obama needs a new speechwriter, or he needs a new set of economic policies. Actually, he needs both. Can anyone think of a more boring, banal, irrelevant or stale speech than the one he gave this Thursday in Washington D.C.? The speech was allegedly on the economy, but more likely it was to divert attention from the Obamacare catastrophe. Whatever the motive, his idea that the defining challenge of our time is to reduce income inequality is completely wrong. In truth, the defining challenge is to restore more rapid economic growth, create substantially more jobs and ...
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