From TF Metals Report
We are excited to have Turd join us again next week for an interview. For now, check out his post covering the most recent updates in Ukraine.
Regular readers know that we post these podcasts every week in an effort to provide an honest and fair discussion regarding Ukraine Crisis. The program last evening was perhaps the most sober and thought-provoking episode yet. Please make the time today to listen to this podcast. CLICK HERE to listen.
By Dave Michaels and Margaret Collins
One of President Barack Obama’s top economic advisers said abusive trading practices are costing workers billions of dollars in retirement savings each year and called for stricter rules on Wall Street brokers.
Jason Furman, chairman of Obama’s Council of Economic Advisers, drafted a Jan. 13 memo citing research that says some broker practices, such as boosting commissions with excessive trading, cost investors $8 billion to $17 billion a year. The document was circulated to senior aides and indicates the White House may support tighter oversight of brokers who handle retirement accounts.
The memo, obtained by Bloomberg News, makes the case for a Labor Department regulation that would impose a fiduciary duty on brokers handling retirement accounts, requiring them to act in their clients’ best interest. Under current rules, brokers are held to a ‘suitability’ standard, meaning they must reasonably believe their recommendation is right for a customer.
“Consumer protections for investment advice in the retail and small-plan markets are inadequate,” Furman wrote in the memo, also signed by Betsey Stevenson, another member of the economic council. “The current regulatory environment creates perverse incentives that ultimately cost savers billions of dollars a year.”
Wall Street has spent more than four years lobbying against the Labor rule. Led by firms like Morgan Stanley (MS) and Bank of America Corp., the industry has argued that costlier regulations would take away options for smaller investors, who would lose access to advice as well as investment choices.
By John Rubino From Dollar Collapse
Today the European Central Bank acknowledged that the currency it manages is being sucked into a deflationary vortex. It responded in the usual way with, in effect, a massive devaluation. Eurozone citizens have also responded predictably, by converting their unbacked, make-believe, soon-to-be-worth-a-lot-less paper money into something tangible. They’re bidding gold up dramatically.
So after falling hard in 2013 and treading water for most of 2014, the euro price of gold has gone parabolic in the space of a couple of months. This sudden rather than gradual awakening is the standard pattern for a currency crisis, mainly because it takes a long time for most people to figure out their government is clueless and/or lying. But once they do figure it out, they act quickly.
From Bix Weir of Road To Roota
There is a lot of talk about the Government going after the personal retirement funds of the people. Why? Because it’s the last place they can find big chunks of money. We’re talking about pensions, 401k’s, IRA’s etc. But is it really feasible that the people in the United States would stand for it even in a time of monetary stress? After all, the Sheeple still think that they hold the power over their lives even though everything that happens around them begs to the contrary.
Many have pointed to the roll out of the President’s new retirement investment plan called “myRA” in which the government manages your retirement account. Although it is totally optional at the moment, it isn’t hard to visualize a REQUIRED transfer of funds into this system when the banking system starts collapsing. Actually, people will likely be BEGGING the government to take over their accounts as their brokerage companies go out of business.
There is also the issue of the massively rehypothicated stock and bond certificates that are floating out in cyberspace. According to the SEC data over 300M shares Fail to Deliver every day and many more Billions of phony “cyber shares” are shuffled around by high frequency traders(mostly Fed Prime Dealer Banks). So if all these shares are virtual and never settled then what about the shares YOU hold in your retirement accounts? Unless you had the share certificates signed over into your name and delivered into your hands…those investments are just as phantom as the next “shareholder”. If you don’t understand what I’m talking about listen to the interview I had with Sean of SGTReport.com below…
“President Barack Obama outlined a modest but important program designed to encourage workers to save for retirement”
I’m sorry but that line sounds like a complete load of propaganda BS. The article’s title alone reeks of gimme gimme socialist crap. We think the MyRA campaign may have been designed with other reasons in mind. What does the Obama administration, and its track record, care about anyone’s retirement. Do we really need another employer sponsored pension program to feed Wall Street issued with near force onto the populace via collusion by government, banking, and corporate interests? No thanks…
This is it. The hammer has fallen, the line in the sand is breached, and the camel’s back is fractured. The foundation of the financial house of cards just gave it’s first tremor. The move by the Swiss National Bank (SNB) to unpeg the franc from the euro will go down in history as the first shot in this war. The likelihood that a derivatives time bomb has been lit is near certain. Currency market moves are often the most sensitive, the most deeply tied into the interwoven system of financial ‘trading’.
Interest rate swaps, which are prevalent in the currency markets, are the largest pool of derivative leverage in the markets. These markets have literally trillions of dollars in daily turnover – source BIS. The leverage on top of these massive trades is even bigger. Most currency exchange (FX) trading accounts have 10 to 1 leverage, often 50 to 1! Currency moves are typically expressed in basis points, hundredths of a percent. When the SNB removed the franc’s peg to the euro, the currency moved about 30%. This is unprecedented.
“The breaking apart of the cohesiveness of global central bank policy, this may very well extend to the cohesiveness of gold suppression and manipulation too”
~Turd Ferguson, aka Craig Hemke
Rory from The Daily Coin had Turd on to discuss the SNB de-peg from the Euro and its earth shattering implications. Very interesting interpretation of the last few days’ events.
The Swiss National Bank (SNB) sent shock waves through the financial markets today, January 15.2015, when they announced the Swiss Franc would no longer be pegged to the Euro. The shock grew in intensity when they further announced, not only would they continue with the NIRP (Negative Interest Rate Policy) but they were in fact going to steal even more currency from savers by dropping their negative interest rate from -0.25 to -0.75. Which of course means that if you had the equivalent of $100,000 in the SNB this morning, this afternoon you would have lost $750–in one day!!
This came over today from our friend Sean at SGT Report…
Dear friends of Liberty,
If you are receiving this e-mail alert it’s because we hold you in the highest esteem and support your great work at SGT Report.
We have just received notice from You Tube that our interview with firearms expert and former police officer Mark S. Mann (pseudonym) was REMOVED by You Tube today without warning ““as a violation of You Tube’s policy on shocking and disgusting content.”
The video which was posted less than a week ago had more than 75,000 views and more than 700 thumbs up before it was removed from You Tube by You Tube.
Yes, this is really happening. Absolute insanity is playing out before our eyes on the global stage. Most people in the US are asleep to it. I know many good productive people in this country that simply refuse to face the music. Honestly, the reality is harsh. Even just scanning the headlines today (in the alternative media of course) can be very depressing. Managing this news page can be depressing. When we go dark for a few days it’s because we have to tune out, just for a bit, to recharge the batteries. Today we are back in the pit for more…
“Did America stage the terror attack in Paris?”
This was the title of an article in the widely circulated newspaper in Moscow, Komsomolskaya Pravda. Regardless of the true cause of the ruthless murders in Paris, the fact that this question is circulating on a main stage is a big deal. There is a major shift in consciousness talking place right now. Although it feels like we are on an island of lies and propaganda here in the US, much of the rest of the world is awake to the nonsense.