Tag: banks

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FED Makes Rules for Megabank Failures

WatchmanMomma

This is one of the most important news stories I have seen. Get Your Money Out of Banks and the Market NOW. The Federal Reserve has quietly set rules for the “too big to fail” banks to do just that.  As part of their global post-crisis efforts to take down the Global Systemically Important Banks (GSIBs),  the list of eight is:  JP Morgan Chase, Bank of America, Goldman Sachs, Citigroup, Morgan Stanley, State Street, and Bank of New York Mellon. What happens when your bank account vanishes?  Not only do you lose its contents, you lose the ability to receive your … Continue reading FED Makes Rules for Megabank Failures

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New Budget, Supply Chain Disruptions

WatchmanMomma

Beginning October 1, the House Republicans’ fiscal 2018 budget plan will pose the next major political test for President Donald Trump’s legislative agenda by combining tax reform with controversial spending cuts. This is the first attempt at a budget in nine years,  so credit is due.  The budget allows for significant overhaul of US tax code, as well as a partial repeal of the 2010 Dodd-Frank law, and savings from federal programs such as food stamps in the next 10 years.  The GOP’s own 1-page summary can be found here. The Congressional Budget Office reports this budget will actually raise the deficit.  The problem is that no … Continue reading New Budget, Supply Chain Disruptions

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Democrat Campaign Funded By Russian Bank

WatchmanMomma

Incredible when you point a finger at something, it often comes right back on you.  Such is the case with the 2009 Secretary of State’s office, and the 2016 presidential campaign of Hillary Clinton. In the May 7th report from Sorcha Faal, …failed 2016 US presidential candidate Hillary Clinton and her Democratic Party (DP) have been implicated in the theft of tens-of-millions of rubles from a now failed bank in Tatarstan (an oil-rich and predominantly Muslim region in central Russia)—and that once Clinton lost her bid to become president, and in a “last gasp” effort to hide these crimes, stole another $60 million from Irish investors too. It … Continue reading Democrat Campaign Funded By Russian Bank