Dutch Central Bank Warns Of Market Calm Before The Storm

With one foot out of the door of Germany’s finance ministry, the former head of the German economy, Wolfgang Schäuble, 75, delivered a fire and brimstone warning over the weekend, telling the FT in an interview that there was a danger of “new bubbles” forming due to the trillions of dollars that central banks have pumped into markets. Schäuble also warned of risks to stability in the eurozone, particularly those posed by bank balance sheets burdened by the post-crisis legacy of non-performing loans, something we warned about since 2012, and an issue which remains largely unresolved.

Taking a broad swipe at the current financial regime – which he helped design – Schauble warned that the world was in danger of “encouraging new bubbles to form”.

Economists all over the world are concerned about the increased risks arising from the accumulation of more and more liquidity and the growth of public and private debt. I myself am concerned about this, too,” he said echoing the concern voiced just one day earlier by IMF head Christine Lagarde, who said the world was enjoying its best growth spurt since the start of the decade, but warned of “threats on the horizon” from “high levels of debt in many countries to rapid credit expansion in China, to excessive risk-taking in financial markets”.

And while Schauble’s dramatic warning was not surprising – prominent economists have a habit of telling the truth once their tenure is over, and once they start selling books warning about all the consequences of policies they helped adopt – one day later a more surprising, and just as urgent warning was delivered by the Dutch central bank, DNB, which on Monday said that ultra-loose monetary policy in the euro zone has run its courseand excessive risks seem to be building up in financial markets making the financial sector vulnerable to a sudden correction.

“It increasingly feels uncomfortable to have low volatility in the markets on the one hand while on the other hand there are risks in the global economy,” said Klaas Knot, the president of the Dutch Central Bank, at the presentation of DNB’s biannual financial stability report according to Bloomberg.

Putting the current unstable equilibrium in its temporal context, Knot said that the current picture resembles that of the period before the financial crisis.

Taking a page out of Mark Faber playbook, the DNB labelled the threat of a sudden downturn in markets, brought on by a return of risk aversion, as an “acute” risk for the international financial sector, capable of starting a new financial crisis in weaker euro countries and beyond.

And, according to the Dutch central bank, only one thing could prevent a further build up of risks, eventually resulting in a crash: Knot reiterated a call to fellow board members at the European Central Bank to start phasing out monetary stimulus measures. The “time has come,” he said. “Economic growth has been above potential for months and the threat of deflation is gone.

“The program has achieved what realistically could be expected from it,” Knot said about QE, adding that it supported growth, and reduced investment costs.

Of course, Knot is merely the latest to fall for the paradox of reflexivity, where he sees the product of central bank intervention as the object that was meant to be cured by said intervention – a process which has pushed yields on European junk bonds below the yield on the US 10Y Treasury, among other market distortions. In reality, if one were to reduce or eliminate the tens of trillions in liquidity injections by central banks, the world would find itself right back in the eye of a financial crisis hurricane, prompting central banks to unleash even more “unorthodox” measures, culminating eventually with central banks purchasing equities, as JPM’s Marko Kolanovic previewed last week.

Later this month, the ECB – rapidly running out of German bunds to monetize – is expected to decide on the fate of the central bank’s bond-buying programme, potentially announcing another taper of its current QE which purchases €60 billion in sovereign bonds per month.

Still, even Knot admits that whatever the ECB’s decision, any slow down or restriction in ECB intervention will have to be gradual, confirming that the ECB remains trapped by the market and any sharp, adverse reaction will promptly force the ECB to resume nationalizing the European capital markets.

“Interest rates will stay very low for a very long time, even if we decide to phase out our bond buying program at our next meeting. Nobody at the ECB is talking about raising interest rates yet.”

And, soon enough – once markets get reacquainted with gravity – nobody at the ECB will be talking about any normalization whatsoever.

 

From: http://www.zerohedge.com/news/2017-10-09/dutch-central-bank-warns-market-calm-storm

High Ranking CIA Agent Blows Whistle On The Deep State And Shadow Government

Cocaine Import Agency Seal

By Aaron Kesel

A CIA whistleblower, Kevin Shipp, has emerged from the wolves den to expose the deep state and the shadow government which he calls two entirely separate entities.

“The shadow government controls the deep state and manipulates our elected government behind the scenes,” Shipp warned in a recent talk at a Geoengineeringwatch.org conference.

Shipp had a series of slides explaining how the deep state and shadow government functions as well as the horrific crimes they are committing against U.S. citizens.

Some of the revelations the former CIA anti-terrorism counter intelligence officer revealed included that “Google Earth was set up through the National Geospatial Intelligence Agency and InQtel.” Indeed he is correct, the CIA and NGA owned the company Google acquired, Keyhole Inc., paying an undisclosed sum for the company to turn its tech into what we now know as Google Earth. Another curious investor in Keyhole Inc. was none other than the venture capital firm In-Q-Tel run by the CIA according to a press release at the time.

Shipp also disclosed that the agency known as the Joint Special Ops Command (JSOC) is the “president’s secret army” which he can use for secret assassinations, overturning governments and things the American people don’t know about.

FBI warrantless searches violate the Fourth Amendment with national security letters, which Shipp noted enables them to walk into your employer’s office and demand all your financial records and if he or she says anything about them being there they can put your supervisor in jail or drop a case against themselves using the “State’s Secret Privilege law.”

“The top of the shadow government is the National Security Agency and the Central Intelligence Agency,” Shipp said.

Shipp expressed that the CIA was created through the Council on Foreign relations with no congressional approval, and historically the CFR is also tied into the mainstream media (MSM.) He elaborated that the CIA was the “central node” of the shadow government and controlled all of other 16 intelligence agencies despite the existence of the DNI. The agency also controls defense and intelligence contractors, can manipulate the president and political decisions, has the power to start wars, torture, initiate coups, and commit false flag attacks he said.

As Shipp stated, the CIA was created through executive order by then President Harry Truman by the signing of the National Security Act of 1947.

According to Shipp, the deep state is comprised of the military industrial complex, intelligence contractors, defense contractors, MIC lobbyist, Wall St (offshore accounts), Federal Reserve, IMF/World Bank, Treasury, Foreign lobbyists, and Central Banks.

In the shocking, explosive presentation, Shipp went on to express that there are “over 10,000 secret sites in the U.S.” that formed after 9/11. There are “1,291 secret government agencies, 1,931 large private corporations and over 4,800,000 Americans that he knows of who have a secrecy clearance, and 854,000 who have Top Secret clearance, explaining they signed their lives away bound by an agreement.

He also detailed how Congress is owned by the Military Industrial Complex through the Congressional Armed Services Committee (48 senior members of Congress) giving those members money in return for a vote on the spending bill for the military and intelligence budget.

He even touched on what he called the “secret intelligence industrial complex,” which he called the center of the shadow government including the CIA, NSA, NRO, and NGA.

Shipp further stated that around the “secret intelligence industrial complex” you have the big five conglomerate of intelligence contractors – Leidos Holdings, CSRA, CACI, SAIC, and Booz Allen Hamilton. He noted that the work they do is “top secret and unreported.”

The whistleblower remarked that these intelligence contractors are accountable to no one including Congress, echoing the words of Senator Daniel Inouye when he himself blew the whistle on the shadow government during the Iran-Contra hearings in 1987.

At the time Inouye expressed that the “shadow government had its own funding mechanism, shadowy Navy, and Air Force freedom to pursue its own goals free from all checks and balances and free from the law itself.”

High Ranking CIA Agent Blows Whistle On The Deep State And Shadow Government

Read More: www.activistpost.com/2017/09/high-ranking-cia-whistleblower-deep-state-shadow-government.html

In A Battle Between Trump And The Federal Reserve, Who Really Wins?

Trump Vs. The FED: Death Match

by Brandon Smith

As a part of the increasingly obvious set-up of conservative movements by international banking interests and globalist think-tanks, I have noticed an expanding disinformation campaign which appears to be designed to wash the Federal Reserve of culpability for the crash of 2008 that has continued to fester to this day despite the many claims of economic “recovery.”  I believe this program is meant to set the stage for a coming conflict between the Trump Administration and the Fed, but what would be the ultimate consequences of such an event?

In my article ‘The False Economic Recovery Narrative Will Die In 2017’, I outlined the propaganda trap being established by globalist owned and operated media outlets like Bloomberg, in which they consistently claim that Donald Trump has “inherited” an economy in recovery and ascendancy from the Obama administration.  I thoroughly debunked their positions and “evidence” by showing how each of their fundamental indicators has actually been in steady decline since 2008, even in the face of massive monetary intervention and fiat printing by the Fed.

My greatest concern leading up to the 2016 election was that Trump would be allowed to win because he represents the perfect scapegoat for an economic crisis that central banks have been brewing for years.

January’s Job Layoffs 2017 , Bankruptcy , Store closings and other Business Economy News | www.dailyjobcuts.com

Daily Job Cuts .com Banner

The mainstream media will try to blame any “official” economic downturn on Trump but they are the ones that have been hiding the real situation for years in support of global corporate profits.

Websites like DailyJobCuts.com have been keeping track of the the real downturn in real-time and their record shows these problems started long ago with both Democrats and Republicans.

Read More: www.dailyjobcuts.com/layoffs-jan.htm

Grant Williams: The Death Of The Petrodollar, And What Comes After | Zero Hedge

Grant Williams, author of “Things That Make You Go Hmm…” offered the most comprehensive analysis yet of the rise and inevitable fall of the petrodollar (and implicitly US hegemony). In the following presentation, from Mines & Money Conference in London in December 2016, Williams focuses on gold’s performance in 2016, the reaction to Donald Trump’s election and joins a series of dots that may lead to the end of the petrodollar system and a new place for gold in the global monetary system.

The Dots So Far. Fall of the Petrodollar From: Get it? Got it? Good. http://ttmygh.com/
The Dots So Far. Fall of the Petrodollar
From: Get it? Got it? Good. http://ttmygh.com/

The story begins in the 1970s when Henry Kissinger and Richard Nixon struck a deal with the House of Saud — a deal which gave birth to the petrodollar system.

The terms were simple The Saudis agreed to ONLY accept U.S. Dollars in return for their oil and that they would reinvest their surplus dollars into U.S. treasuries.

In return, the U.S. would provide arms and a security guarantee to the Saudis who, it has to be said, were living in a pretty rough neighborhood.

Read More: www.zerohedge.com/news/2017-02-09/grant-williams-death-petrodollar-and-what-comes-after

Thomas Jefferson on central banks

They will deprive the people of all property until their children wake up homeless.


 
“If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their Fathers conquered…. I believe that banking institutions are more dangerous to our liberties than standing armies…. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.”

Thomas Jefferson
(Author of the Declaration of Independence, Founding Father, President of the United States of America)