I recently interviewed Chuck Butler about JP Morgan’s recent admission to five felony counts and $1 billion fine. I asked, “When Is It Going To End?” Right after finishing the interview, ZeroHedge reported: “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 […]
» Read moreNo, I’m not talking about the political hatred dividing our country. My concern is something deeper. If it doesn’t end, the political divide will grow worse. Wall Street On Parade (WSOP) reports JPMorgan Chase is caught once again: “…. JPMorgan Chase, the largest bank in the United States, has admitted to an unprecedented five criminal felony counts since 2014 and […]
» Read moreThis Wall Street On Parade headline, Now that Indictments Have Outed Gold Manipulations at JPMorgan, UBS says “Buy Gold” grabbed my attention: “While multiple indictments have been handed down against JPMorgan precious metals traders since last year by the Justice Department, charging some of the traders with RICO (Racketeer Influenced and Corrupt Organizations Act) crimes, the bank itself has yet […]
» Read moreI’ve had it with the virus panic, riots, looting, property destruction and grandstanding politicians. A poor guy in Minneapolis tried to pass $20 in funny money and ended up dead. His $20 is pale in comparison to the trillions in funny money authorized by congress and created by the Fed to bail out a corrupt banking system. “The Federal Reserve […]
» Read moreWhat is the Federal Reserve up to? Do they see a huge storm on their radar they are not telling us about? The banking/investment world has changed radically since the repeal of the Glass-Steagall Act allowing banks to merge with Wall Street investment firms. I recently asked, “Will The Next Bank Bailout Bankrupt America?” and followed it with “The New […]
» Read moreWikipedia tells us, “In the first Godfather movie, the ‘meeting of the Dons’ scene uses the Federal Reserve building exterior.” How appropriate! This Burning Platform “Quotes of the Day” grabbed me: “When we talk about company culture in the context of financial services, the first thing that comes to mind is the risky, unethical, and sometimes criminal behavior in the […]
» Read moreCan bank bailouts bankrupt America? Why would congress let it happen? In a recent Daily Pfennig, friend Chuck Butler tells about educating his grandsons about the worst president there has ever been: “…. I couldn’t let that one slip … I explained to them that Woodrow Wilson was the all-time worst president, … culminating with, he ushered in the Federal […]
» Read moreIn 1935, Parker Brothers introduced the game “Monopoly”. Wikipedia tells us: (my emphasis) “Monopoly is a board game…. Players roll…dice to move around the game board, buying and trading properties, and developing them with houses and hotels. Players collect rent from their opponents, with the goal being to drive them into bankruptcy. Money can also be gained or lost through […]
» Read moreChuck Butler’s recent Dow Theory Letter article (behind paywall), “Central Bank Frustrations” was an eye-opener. Chuck removes any illusions about “trusting” central bankers. He quotes former Fed Chairman Ben Bernanke: “Given the fundamental factors in place that should support the demand for housing, we believe the effect of the troubles in the subprime sector on the broader housing market will […]
» Read moreWhen we last checked, since 2009 the top banks had been fined a total of $204 billion. Bloomberg now reports, “Wells Fargo’s $1 Billion Pact Gives US Power to Fire Managers”: “The settlement covers issues in Wells Fargo’s auto-lending and mortgage units. The bank revealed last year that it had forced unwanted insurance on customers who took out car loans….” […]
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