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Crime Pays: Goldman Strikes $2BN Deal With DoJ To Avoid All Charges Tied To 1MDB
Goldman Sachs is reportedly on the cusp of settling one of the biggest criminal cases involving a Wall Street bank since the financial crisis: According to a Bloomberg News report published late Monday evening, the Vampire Squid has reached a tentative agreement with the DoJ to pay more than $2 billion in…
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Futures Jump Ahead Of Tuesday Stimulus Deadline
Bulls will breathe a sigh of relief that on the 33-year-anniversary of Black Monday (when the Dow dropped 22.6% on this day in 1987) futures are sharply higher, at least for now. Emini futures rebounded from Friday’s drop, undoing most of the late Friday swoon, climbing alongside shares in Europe…
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This Is Not Sustainable, Were Watching What the World Is Now Calling the Great Reset
(Reality–New World Order Pukes ) Our President Knows the End Is Near With the Current Financial Apparatus… The U.S. government spent more than $3.13 trillion than it collected in taxes in fiscal year 2020, borrowing the difference from investors in the U.S. and abroad, the Treasury Department said Friday. At…
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No Stimulus, No Problem: One Bank Sees “No Armageddon” Without A New Stimulus Deal
In recent weeks, many have opined – this website included – that with the US economy careening into a double dip recession (or perhaps depression), it is imperative that Congress and the White House cast aside their differences and pass a substantial, $1.5-$2 trillion stimulus bill or else the US middle class…
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The Pandora’s Box Of Fed’s Digital Currency Will Ignite An “Inflationary Conflagration”
We most recently described the Fed’s stealthy plan to deposit digital dollars to “each American” during the next crisis as a unprecedented monetary overhaul, but more importantly, a truly stealthy one: to be sure, there has barely been any media coverage of what may soon be a money transfer by…
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Citigroup Hit With $400 Million Fine Over AML Failures That Led To Mike Corbat’s Downfall
The Comptroller of the Currency has finally handed down its punishment for the compliance failures that helped bring about an end to the tenure of Citibank CEO Michael Corbat. After Citi announced that Corbat would be replaced by Jane Fraser, who will soon become the first CEO of an American…
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World’s Top Oil Trader Is Now A Used Car Salesman
Vitol Group, the world’s largest independent oil-trading firm, has been startled by the prospects of peak oil demand as it must diversify operations today to survive the decade. Vitol recently formed a new business venture called Vava Cars, aiming to become “the most trusted car transaction platform in the world,”…
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De-Dollarization Trend Remains Intact
Global de-dollarization resumed in the second quarter according to data recently released by the International Monetary Fund (IMF). While the dollar share of global reserves increased in the first quarter of 2020, it fell sharply in Q2, resuming a more than two-year trend downward. The share of euros making up global reserves rose slightly…
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Banks Are In Trouble: Wells Tumbles As Revenues Plunge, NIM Hits Record Low, Warns On Payment Deferrals
If there is one constant during earnings season, it is that no matter what the other banks do, Wells Fargo will always shit the bed, and this time was no different, with the stock sliding after reporting that Q3 earnings missed again as its Net Interest Margin dropped to a…
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