The past week brought us history: on Tuesday, GETCO and Citadel’s HFT algos were used by the Primary Dealers and the Fed to send the Dow Jones to all time highs, subsequently pushing it to new all time highs every single day of the week, and higher on 8 of the past 9 days: a 5ish sigma event.
But there is never such a thing as a free lunch. And here is the invoice: in the past 5 days alone, total Federal Debt rose from$16.640 trillion to $16.701 trillion as of moments ago: an increase of $61 billion in five days, amounting to $198,697,068 for every of the 307 Dow Jones Industrial Average points “gained” this week. Because remember: US debt is the asset that allows the Fed to engage in monetization and as a result, hand over trillions in fungible reserves to banks… mostly foreign banks.
(Video) He said the residents had escaped before the cliff dropped. Of the 34 homes being evacuated, 17 are below the cliff and were isolated, cut off from the rest of the island by tons of rock, dirt and tress and wiped out the road as well as electrical and water connections, said Hardin. Island County Sheriff Mark Brown said these residents of these homes are being evacuated by rescue boats to a temporary shelter.
Another 17 homes on the top of the cliff are also being evacuated, as many residents lost portions of their waterfront property to the landslide, said Hartin. “Where the soil dropped, it forms a sheer cliff,” said Brown. “At the top of that cliff, you’ve got people’s backyard that went from 60 feet to now 10 feet.” Whidbey Island is one of two islands in Island County, Wash.
Don’t be surprised when the global elite confiscate money from your bank account one day. They are already very clearly telling you that they are going to do it. Dutch Finance Minister Jeroen Dijsselbloem is the president of the Eurogroup – an organization of eurozone finance ministers that was instrumental in putting together the Cyprus “deal” – and he has said publicly that what has just happened in Cyprus will serve as a blueprint for future bank bailouts.
What that means is that when the chips are down, they are going to come after YOUR money. So why should anyone put a large amount of money in the bank at this point? Perhaps you can make one or two percent on your money if you shop around for a really good deal, but there is also a chance that 40 percent (or more) of your money will be confiscated if the bank fails.
Cyprus reopens its banks on Thursday while limiting withdrawals, banning cheques and curbing the use of Cypriot credit cards abroad, among measures imposed to avert a bank run after it agreed a tough rescue deal with international lenders.
The Central Bank said banks would open their doors at midday (5 a.m. EST) on Thursday after nearly two weeks when Cypriots could only get cash through limited ATM withdrawals.
Syrian rebels fired dozens of mortar bombs into central Damascus on Monday, hitting a high-security area within a kilometer (less than a mile) of President Bashar al-Assad‘s residence, residents and a security source said.
The military retaliated with artillery fire from Mount Qasioun, overlooking the Syrian capital. “I’ve heard dozens of regime shells so far, pounding rebels,” one resident said.
With time running out until Cyprus’s devastated banks must reopen their doors to the public, Cypriot and European officials are scrambling to put in place a set of measures that would allow jittery depositors access to their savings while preventing many billions of euros from fleeing the country.
Russia may ban cash payments for purchases of more than 300,000 rubles (around $10,000) starting in 2015. The move is expected to boost banks’ cash reserves and put a damper on Russia’s shadow economy. However, the middle class will most likely end up having to pay the price for the scheme.
Moscow is looking to kill two birds with one stone: Firstly, it wants to bring some of the population’s “grey” income out of the shadow; secondly, it wants to increase the volume of cash reserves in the banks. The government’s bill will introduce the new rule to the State Duma. The document was prepared by the Ministry of Finance and approved by the government.
The ‘big five’ of the developing world will discuss creating their own global World Bank as their 5th annual summit kicks off Tuesday in sunny Durban.
The move is linked to the developing world’s disillusionment with the status quo of world financial institutions. The World Bank and IMF continue to favor US and European presidents over BRICS nations, and in 2010, the US failed to ratify a 2010 agreement which would allow more IMF funds to be allocated to developing nations.
The Arab League on Tuesday approved a Qatari proposal to set up a $1 billion fund for Arab East Jerusalem, which Palestinians want as the capital of an independent state under any peace deal with Israel.
Arabs say that Israeli settlement-building on land captured in the 1967 Middle East war, including Arab East Jerusalem, has made a two-state solution backed by the United States unfeasible.
(Video) In the typical slippery nature of Monsanto’s legislation-based actions, the biotech giant is now virtually guaranteed the ability to recklessly plant experimental GM crops without having to worry about the United States government and its subsequent courts.