From signs that the 2016 Olympics are in jeopardy, to shipping said to have ceased, to escalation of World War, to Bank Bail Ins.
Who has not heard the alarms?
Turbulence is everywhere I look and everything is connected in a fraudulent worldwide monetary system based on deception, debt and taxation.
To make this worse is the fact that psychopaths and criminals are the officials in charge…
About $21 billion have been pulled out of equity funds
Bloomberg Business News reports:
Is It Over Yet? Two Weeks In, 2016 Feels Like Year of the Bear
Not even the pessimists on Wall Street thought things would go so wrong so fast in 2016.
For the first time in 12 years, oil is below $30 a barrel. China is struggling to prop up its slowing economy and calm its volatile stock market. For the moment, the bears have the upper hand — and January is only half over. As the Dow Jones Industrial Average sank 391 points on Friday, investors the world over seemed to be groping for any good news.
– Lost Trust & Bail Ins –
Portuguese Prime Minister Antonio Costa widens rift with Central Bank on Novo Banco
Portuguese Prime Minister Antonio Costa said he was concerned by the central bank’s treatment of Novo Banco SA bondholders and the possible impact on confidence in the nation’s lenders.
The government was “apprehensive about the systemic effects” of imposing losses on some senior bondholders, Costa told lawmakers in parliament on Friday. These concerns were expressed to the Bank of Portugal, he said. He didn’t say whether this happened before the central bank announced its decision.
The premier’s comments deepen a divide between the government and central bank regarding the transfer of about 2 billion euros ($2.2 billion) of Novo Banco bonds to a bad bank late last month. The move sparked complaints from noteholders about significant losses and unequal treatment, while the central bank has said it focused Novo Banco losses on institutions to shore up depositors’ confidence. –Bloomberg Business
Meanwhile Reuters reported:
Last year, the central bank failed to sell Novo Banco, which was carved out of failed lender Banco Espirito Santo after a 4.9 billion euro state rescue in 2014, as bids came in too low with investors concerned about its liquidity and potential contingencies.
On Dec. 29, the central bank took a controversial decision to transfer nearly 2 billion euros in bonds from Novo Banco back to Banco Espirito Santo, making some investments nearly worthless, a decision private bondholders plan to challenge in courts.
The transfer was meant to plug a 1.4 billion euro capital shortfall identified by an ECB stress test after the rescue. The Bank of Portugal said at the time the solution should help to lure investors and sell Novo Banco on the second attempt. –Reuters
Federal Reserve Official Confesses They Rigged Stock Market
Here are the significant quotes from Richard Fisher on CNBC’s video:
What the Fed did — and I was part of that group — is we front-loaded a tremendous market rally, starting in 2009.
We front-loaded at the Federal Reserve an enormous rally in order to accomplish a wealth effect.
A lot of people are building cash positions…. Those [investors] that are taking a longer term view are being extremely cautious here, are raising their cash levels, are nervous about the valuations that are in the market.
The values are very richly priced here, so I could see significant downside.
I was warning my colleagues, “Don’t go wobbly if we have a 10-20% correction at some point…. Everybody you talk to … has been warning that these markets are heavily priced.
You have to be careful here and frank about what drove the markets…. It was, the Fed, the Fed, the Fed, the European Central Bank, the Japanese Central bank … all quantitatively driven by central bank activity. That’s not the way markets should be working…. They were juiced up by central banks, including the Federal Reserve…. So, I think you have to acknowledge reality.
In a dynamite interview, Richard Fisher, former president and CEO of the Federal Reserve Bank of Dallas, gave what may be the biggest confession you’ll ever see and hear from a Federal Reserve insider: the Federal Reserve knowingly “front ran” the US stock market recovery (i.e., manipulated the market) and created a huge asset bubble. Fisher expresses certainty that the “juiced” stock market will come down and is coming down now that the Fed has taken its foot off the accelerator … and that it has a long way yet to go. –alt-market.com
Richard Fisher threw the rest of his colleagues (including Janet Yellen) under the bus in a futile attempt to excuse himself, his past actions and culpability.
Mr. Fisher said he voted for QE1 and QE2 but thought QE3 was not needed.
This criminal [Richard Fisher] is telling you, flat out, that a massive wealth transfer is taking place and whatever funds are in the stock market, well, they will belong to someone else and no longer be part of your 401k, IRA or private pension plan.
You have been warned by the criminal that instigated the theft.