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A Run On The Banks Begins In Italy As Italian Banking Stocks Collapse

Italy Banner - Public DomainThe Italian financial meltdown that we have been waiting for has finally arrived. For quite a long time I have been warning my readers to watch Italy, and now people are starting to understand why. Italian banking stocks continued their collapse for a fifth consecutive day on Wednesday, and nervous Italians are beginning to quietly pull large amounts of money out of the banks. In particular, Monte dei Paschi is a complete and utter basket case at this point. A staggering one-third of their loans are “non-performing”, and the stock price has fallen a staggering 57 percent since 2016 began. Monte dei Paschi is going to need a major bailout, and the same thing could be said about almost all of the largest Italian banks. But where is the money going to come from? (Read More...)

The Economic And Financial Problems In Europe Are Only Just Beginning…

Euro Gears - Public DomainRight now, the financial world is focused on the breathtaking stock market crash in China, but don’t forget to keep an eye on what is happening in Europe.  Collectively, the European Union has a larger population than the United States, a larger economy than either the U.S. or China, and the banking system in Europe is the biggest on the planet by far.  So what happens in Europe really matters, and at this point the European economy is absolutely primed for a meltdown.  European debt levels have never been higher, European banks are absolutely loaded with non-performing loans and high-risk derivatives, and the unemployment rate in the eurozone is currently more than double the unemployment rate in the United States.  In all the euphoria surrounding the “deal” that temporarily kept Greece in the eurozone, I think that people have forgotten that the economic and financial fundamentals in Europe have continued to deteriorate.  Whether Greece ultimately leaves the eurozone or not, a great financial crisis is inevitably coming to Europe.  It is just a matter of time. (Read More...)

Globalist Mouthpiece Calls For The Entire Planet To Adopt The ‘National Identification System’ One European Country Has Established

Identification - Public DomainWould you like to have a digital identity card that is automatically issued to you at birth?  In one European nation, residents use such a card when they go to the hospital, when they do their banking, when they go shopping and even when they vote.  This card has become so popular that this particular European country actually plans to start issuing them to millions of non-citizens all over the planet who request them.  Never heard about this?  Neither had I before this week.  The Economist, a well-known mouthpiece for the global elite, is calling for the entire planet to adopt this “national identification system” that the little nation of Estonia has adopted.  The Economist is touting all of the “benefits” of a “national identification card”, but are there dangers as well?  Could adopting such a system potentially open the door for greater government tyranny than we have ever known before? (Read More...)

Financial Panic Sweeps Europe As The Head Of The IMF Warns Of A “1930s Depression”

Are we on the verge of another Great Depression?  Christian Lagarde, the head of the IMF, said this week that if dramatic action is not taken immediately we could actually see conditions “reminiscent of the 1930s depression” and that no country on earth “will be immune to the crisis”.  Right now, financial panic is sweeping across Europe, but most Americans are not too concerned about it because they simply don’t understand how important the EU is.  The truth is that the EU has a much larger population than the United States does.  The EU has an economy that is nearly as large as the economies of the United States and China combined.  The EU has more Fortune 500 companies that the United States does, and the banking system of Europe is substantially larger than the banking system of the United States.  Anyone out there that believes that a massive financial collapse in Europe would not dramatically affect the rest of the globe is being delusional.  The European debt crisis is one of the biggest stories that we have seen in a long, long time and the coming financial meltdown is going to permanently change the global economy. (Read More...)

Glenn Beck And The Federal Reserve

Last Friday, Glenn Beck did an entire show on the Federal Reserve.  It had been a highly publicized show and many people were wondering how Beck was going to handle the subject.  Well, to his credit, the show actually contained a lot of truth and it was definitely anti-Federal Reserve.  Was the show perfect and 100% accurate?  No, not by a long shot.  But for a big name personality like Glenn Beck on a big cable network like Fox News to do an hour long show on why the Federal Reserve is bad is a very big deal.  Many of us in the alternative media have spent a lot of time bashing the mainstream media (and rightly so), but when someone does something right, we should applaud them for it.  The Federal Reserve was the topic for the entire show, and Beck and his guests discussed the creation of money, debt, the history of banking and the current financial problems of the United States.  Glenn Beck even had G. Edward Griffin on the show.  That was huge.  There is not usually much on the mainstream news worth getting excited about, but in this case Glenn Beck’s show on the Federal Reserve was a very good step forward, and hopefully more mainstream news programs will begin to feel comfortable with taking an honest look at the Federal Reserve. (Read More...)

41 Facts About The History Of Central Banks In The United States That Our Children Are No Longer Taught In School

*The original version of this article contained a few minor inaccuracies.  I apologize for this.  I am not a historian, and several of the facts that I made originally are hotly disputed among historians.  I have attempted to revise the article in such a way as to reflect the historical consensus more accurately.  However, the central points of the original article are not in dispute.  Central banking has always been a huge issue throughout U.S. history and central banking remains a tremendous threat to our financial system in 2010.  Everyone makes mistakes, and I am sure I will make many more.  However, the main point of the article is to detail how corrosive central banking and the financial elite have been throughout U.S. history, and hopefully most everyone can see that very clearly.  There will always be historical debate about certain points, but the overall themes are unmistakable when you step back to take a look at the bigger picture. (Read More...)

16 New Records That The American Economy Has Set During The Past 12 Months – And They Are All Bad

Over the past twelve months, the U.S. economy has continued to come apart like a 20 dollar suit.  During that time it seems like more bad economic news has been coming out nearly every single day.  Instead of getting better, the problems facing the U.S. economy only seem to be multiplying.  The U.S. government and the U.S. financial system continue to absolutely drown in debt.  Factories, jobs and massive amounts of wealth continue to fly out of the United States every month at an astounding pace.  Meanwhile, the number of Americans enrolled in anti-poverty programs continues to shatter records and the U.S. housing industry continues to set records for futility.  The truth is that less Americans are living the American Dream today than were living it twelve months ago.  The U.S. economy is in a serious state of decline, and it is time for all of us to wake up and admit the truth. (Read More...)

Banks Are Failing At A Record Pace, The FDIC Bank Problem List Continues To Grow And Most Americans Don’t Even Realize The U.S. Banking System Is Dying

In the mainstream media, all the talk is about how the “recession” is over.  But the truth is that our economic problems are far from over.  In fact, the U.S. banking system is dying.  U.S. banks continue to fail at a record pace.  The FDIC list of problem banks continues to grow at an alarming pace.  Loans and mortgages continue to go bad at an accelerating rate at banks across the United States.  The truth is that we are in deep, deep trouble, and the vast majority of the American people do not even realize it.  But the American people better wake up soon, because if the U.S. banking system dies, the American Dream is going to die along with it for tens of millions of Americans. (Read More...)

Banking System Collapse: Wake Up America Your Banks Are Dying

U.S. banks are being shut down by federal regulators at a staggering pace this year, and yet most Americans seem completely oblivious to it.  In fact, federal officials have already shut down 81 U.S. banks this year, which is about double the number that were shut down at this time last year.  So why aren’t more people upset about this?  Well, part of the reason is because the FDIC is doing it very, very quietly.  The bank closings for each week are announced every Friday, which means that they pass through the news cycle over the weekend almost unnoticed.  For example, banks in Nebraska, Mississippi and Illinois with total deposits of almost $2.3 billion were shut down by federal regulators on Friday.  So did you hear about it before now?  If not, why not?  Shouldn’t the fact that we are experiencing a banking system collapse be headline news?  But most Americans are more than happy to remain blissfully ignorant of what is going on.  In fact, most Americans seem far more interested in what is happening on American Idol or Dancing With The Stars.  But when the American Dream starts dying for tens of millions of Americans as the economy collapses perhaps more people will start to care. (Read More...)