Just two weeks before a bank run, IMF geniuses declared Bulgaria’s banks as safe. In a matter of hours, several hundred million dollars were withdrawn. After words, the EU Commission geniuses announced that Bulgaria had high levels of liquidity compared to their peers. So, if Bulgaria, with high liquidity, can have bank runs, how about other European banks? Well, at least deposits are safe elsewhere.
In a precursor to what will be coming to the U.S. in the near future, the Spanish government will begin a blanket tax of 0.03% on all bank deposits. In Germany, the government approved plans to force creditors, depositors included, into propping up struggling banks across Europe with bail-ins. It appears the other shoe is about to drop but at least the U.S. has the world’s largest banks…
Top World Banks
A list of the world’s 100 largest banks is out and the U.S. can only claim 1 bank in the top 10 and that is JP Morgan in the 5th spot. China has the top 4 biggest banks… At least until China’s housing bubble bursts. Speaking of bubbles….
From the stock market, govermment debt, corporate bond and derivatives bubbles, it is fairly easy to see what is going to happen. It is not a question of if, but when; thus, one should prepare accordingly then, if possible, invest wisely in items that do not appear to be in a bubble.
Double-digit Rate Increase
Most state health insurance rates for 2015 are scheduled to increase by double-digit percentages just before the midterm elections. Needless to say, those who supported Obamawreck are not feeling a thrill up their leg right now. White House officials hope to strong arm state agencies to hold back those rate increases until after the Midterms because the last thing they need are facts coming out before the elections.
Even They’re Shocked
How bad must it be when an MSNBC panel has slammed Hillary Clinton about her laughter at getting a child-rapist off on a technicality? “What difference, at this point, does it make?”
By 2021, Russians plan to have deployed radar-evading nukes. Will it deploy chaff counter-measures to mask their warheads that may possibly be coated with radar-absorbent material? Hopefully, we will not see.
Finally, please prepare now for the escalating economic and social unrest. Good Day!
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