Confusion in China, latest report is that China was ready to ban trading of cryptocurrencies but none of the trading housing received info about this.The Fed believes that the everyday person is doing well, but it turns out they are not and the wealth is being siphoned up to the wealthy.The next bank in Spain is in trouble, it seems like the domino’s are falling. Citi warns that revenue will be way down. Deutsche bank is reporting that a recession is headed our way. SRSRocco reports that we are at the point of the economy where its primed and ready to crash. Chinese banks are halting transactions with NK. Putin says yes to peace keepers in Donbass. Russia wants dialogue with Qatar and the other Arab states. Saudi King secretly visits Israel right before the visit to Russia. The terrorists and moderate rebels are surrendering and Syria and Jordan are taking over more of the borders. The war in Syria is coming to an end, the Cabal’s plan did not work, the dollar existence is in jeopardy.
Check Out The X22 Report Spotlight YouTube Channel – X22Report Spotlight
Please check Newzsentinel.com for the latest news on the economic collapse. The Sentinel Alerts are updated throughout the day. If you haven’t already, go to “The People” and join the community of people who are helping each through the economic collapse.
Current News – 09.11.2017
- China reportedly plans to ban trading of bitcoin and other virtual currencies on domestic exchanges the ban will only apply to trading of cryptocurrencies on exchanges,
- China’s 3 biggest exchanges have still not received anything official with regard the ban and Russia’s finance minister has outspokenly proclaimed “there’s not point in banning” crptocurrencies.
- When some think of the economy, they think of GDP. When I think of the economy, I try to visualize the average Joe and how he or she is doing.
- According to Federal Reserve Governor Lael Brainard:
Overall, the U.S. economy remains on solid footing, against the backdrop of the first synchronized global economic growth we have seen in many years and accommodative financial conditions.
- Yes, employment seems to be improving
- And average wages (blue line in graph below) seem to be improving (really difficult to monitor median incomes in real time). It’s all good if you have a job.
- Indexed Real Wages and Salaries (Q1 2008 = 100) Per Employee
- The ratio of spending to income has been very elevated since September 2016. There have been only three extended periods in history where the ratio of spending to income has exceeded 0.92 (the months surrounding the 2001 recession, from September 2004 to the beginning of the 2007 Great Recession, and since September 2016).
- Seasonally Adjusted Spending’s Ratio to Income (an increasing ratio means Consumer is spending more of Income)
- And personal savings rate nears historic lows.
- Seems to me the average Joe is living from hand-to-mouth with little left over.
- This kind of trend increases financial inequality – and tends to create a big brother government which assists the average Joe to survive.
- The American middle class has been rotting away for decades..
- The Top .01% is not sharing the wealthy with the bottom 50% income earners, which has produced massive wealth inequality gaps. Such gaps usually happened around an economic and social crisis.
- It just doesn’t let up with these banks.
- The timing could not have been worse: just as Spain faces its biggest constitutional crisis in over 40 years with Catalonia’s independence vote, another bank has begun to wobble.
- Liberbank, Spain’s eighth largest lender, was spawned in 2011 from the shotgun marriage of three failed cajas (savings banks),
- , the bank announced that it would expand its capital by €500 million, and these brave shareholders would be diluted. The response was to sell: shares plunged over 12% on Thursday and a further 5% on Friday.
- Exactly three months ago, in mid-June, Citigroup CFO John Gerspach warned investors at a Morgan Stanley investment conference that Citi’s second quarter trading revenues would be down 12-13%, mostly due to declining market volatility. A few weeks later, he was proven right when US banks – and especially Goldman Sachs – posted some of the worst trading revenues in over a year.
- Fast forward to today, when Citi did it again after CFO Gerspach, this time speaking at a Barclays conference, warned that markets revenue in the third quarter which is ending in less than three weeks, will be down 15%,
- the latest Deutsche Bank model, which looks at economic data the risk of a recession starting in the next 12 months is near the highest it has been since the last recession.
- As Deutsche Bank’s Dominic Konstam writes, at first glance, the modeled probability is admittedly low at about 8% as of the end of August (down a touch from near 10% in June), but it has been generally trending higher despite a brief post-election dip.
- when observing the imminent Y/Y contraction in C&I loans, traditionally a guaranteed leading indicator of future recessions, other metrics demonstrate a far higher recession risk:
- Steve St Angelo has issued a major warning on the markets. Some markets are about to collapse in both dollar amount and value, and the markets that will crash versus the markets that will weather the storm comes down to the question of energy…
- The situation in the markets is much worse than you realize
- Central Banks Have Purchased $2 Trillion In Assets In 2017 :
….. so far in 2017 there has been $1.96 trillion of central bank purchases of financial assets in 2017 alone, as central bank balance sheets have grown by $11.26 trillion since Lehman to $15.6 trillion.
- What is interesting about the nearly $2 trillion in Central Bank purchases so far in 2017, is that the average for each year was only $1.5 trillion. We can plainly see that the Central Banks had to ramp up asset purchases as the Ponzi Scheme seems to be getting out of hand.
- So, how bad is the current economic and financial situation in the world today? If we take a look at the chart in the next section, it may give you a clue.
- THE DEATH OF BEAR STEARNS: A Warning For Things To Come
- It seems like a lot of people already forgot about the gut-wrenching 2008-2009 economic and financial crash. During the U.S. Banking collapse, two of the country’s largest investment banks, Lehman Brothers, and Bear Stearns went belly up. Lehman Brothers was founded in 1850 and Bear Stearns in 1923. In just one year, both of those top Wall Street Investment Banks ceased to exist.
- Now, during the 2001-2007 U.S. housing boom heyday, it seemed like virtually no one had a clue just how rotten of a company Bear Stearns had become. Looking at the chart below, we can see the incredible RISE & FALL of Bear Stearns:
- Bear Stearns stock price was worth ZERO many years before it collapsed in 2008. If financial analysts had seriously looked into the fundamentals in the Mortgage Backed Security market and the bank’s financial balance sheet several years before 2008, they would have realized Bear Stearns was rotten to the core. But, this is the way of Wall Street and Central Banks. Everything is fine, until the day it isn’t.
- And that day is close at hand.
- THE RECORD LOW VOLATILITY INDEX: Signals Big Market Trouble Ahead
- The VIX – Volatility Index (RED) is shown to be at its lowest level ever when compared to the S&P 500 Index (GREY) which is at its all-time high. If we take a look at the VIX Index in 2007, it fell to another extreme low right at the same time Bear Stearns stock price reached a new record high of $171. Isn’t that a neat coincidence?
- In what may be a major breakthrough in the diplomatic and political stalemate over North Korea if confirmed officially, Japan’s Kyodo newspaper reported overnight that Chinese state banks have started suspending transactions through accounts held by North Koreans, making it nearly impossible to do business between the two countries. Furthermore, Kyodo News has confirmed that branch offices of at least three major state banks – the Bank of China, China Construction Bank and Agricultural Bank of China – in the northeastern border city of Yanji have also banned North Koreans from opening accounts.
- The Chinese banks have yet to freeze the accounts, meaning that North Koreans can still withdraw money from them – similar to bitcoins held in Chinese exchanges – but they are now prevented from making deposits or remittances, according to the sources quoted by Kyodo.
- “This is being influenced by international sanctions against North Korea,” an employee of one bank said.
- YouTube, citing violation of “community guidelines,” removed the state-run North Korea propaganda channel, Uriminzokkiri, from its website. “This account has been terminated for violating YouTube’s community guidelines,” YouTube said.
- The video-sharing website did not immediately respond to requests about why the channel had been removed Friday,
- Uriminzokkiri, part of the country’s propaganda arm, frequently posts video of state TV news clips. Its video content seems targeted for North Koreans living abroad,
- According to YouTube, the channel had 18,000 subscribers. The move by YouTube came amid action by the U.S. to impose harsher sanctions on North Korea after its sixth nuclear test, in which it claimed to have detonated a hydrogen bomb Sept. 3.
- German Chancellor Angela Merkel has expressed support for President Vladimir Putin’s proposal to deploy a UN peacekeeping contingent to the Eastern Ukraine to protect the OSCE monitoring mission there.
- Chancellor Merkel added that the peacekeeping mission should not be limited only to the contact line separating Kiev’s forces from the Donbass rebels, but that they should be empowered to accompany members of the Organization for Security and Cooperation in Europe (OSCE) monitoring mission to every region in which they operate.
- Putin “reacted positively” to Merkel’s suggestions and said Moscow would consider removing these restrictions from the text of the resolution that Russia submitted to the UN Security Council, a statement from the Kremlin said.
- Russia proposed a draft resolution to the UN Security Council on sending UN peacekeepers to eastern Ukraine on September 5, after
- Arab countries and Qatar should enter into direct talks to solve a diplomatic dispute, Russia’s foreign minister said on a trip to Saudi Arabia on Sunday, urging all parties to restore regional unity.
- Kuwait and the United States have been mediating to reach a breakthrough in the three-month long crisis that has put the whole region on edge, and prompted Turkey to send troops to the wealthy Gulf state in a sign of support.
- Solution to crisis
- Israeli media late last week began reporting that a Saudi prince made a secret visit to Israel, in spite of the fact that the kingdom does not recognize the Jewish state, and the two sides do not have diplomatic relations.
- “An emir of the Saudi royal court visited the country secretly in recent days and discussed with senior Israeli officials the idea of advancing regional peace,”
- reports began to emerge that the unidentified Saudi royal in question is no less than Crown Prince Mohammad bin Salman, which would indeed be shocking news:
On Sunday, the IUVM Online Arabic news outlet identified the Saudi official who reportedly visited Israel as Crown Prince Mohammad bin Salman, the Defense Minister of Saudi Arabia and heir apparent to the throne.
- Jordan expects that all de-escalation zones will be established in Syria as soon as possible, Jordanian Foreign Minister Ayman Safadi said on Monday, stressing that it would contribute to the settlement of the ongoing crisis in the country.
- So far, three zones of de-escalation have been established in Syria: in the south along the border with Jordan, in Eastern Ghouta and to the north of Homs. Consultations on the fourth de-escalation zone in the Idlib province are ongoing.
- Two Western-backed Syrian rebel groups fighting the Syrian army and Iranian-backed militias in southeastern Syria have been asked by their Western and Arab backers to pull out of the area and retreat into Jordan
- Free Syrian Army group, said they were told to end fighting in the area by their backers from the US Central Intelligence Agency and neighbouring states that support them, which include Jordan and Saudi Arabia.
- the army reached its most important goal in the campaign to date – the liberation of Deir Ezzor military airport which had been completely surrounded by ISIS for nearly a year. The army’s full control of the airport means that most of Deir Ezzor’s western half is now under the control of the government as all regime neighborhoods are now linked up for the first time with ISIS lines cut.
- When the Syrian War began, the United States claimed to only be concerned about the innocent civilians. Now, as the war comes to an end, the ones who have suffered the most are the innocent civilians, and the victor is the same “tyrannical dictator” the U.S. has spent years trying to overthrow.
- While the war in Syria may be coming to an end, it is important to remember that it has impacted countless innocent civilians, wasted billions of taxpayer dollars, and the original mission of the U.S. was never accomplished, raising serious questions about how United States–Syria relations will look in the future.