JPMorgan, Bank of America, Wells Fargo, Citigroup, and Goldman Sachs reported more than $111 billion of profit for 2018 due to the Fed’s payment of interest on reserves, rising interest rates, a jump in deal making,a retail-banking boom, and Trump’s tax cuts, [Banking is an amazing business.It collects interest by loaning money created out of nothing, when it hits hard times it is bailed out with tax dollars, and when it is riding high, it enjoys incredible tax breaks. It loans money to governments, but it’s the taxpayers who guarantee repayment and pay the interest. And since he who pays the piper calls the tune, it controls governments instead of governments controlling the banks. Yes, a very amazing business.] -GEG
One may not know it by looking at banker bonuses last year, but 2018 was a banner year if only for bank shareholders and upper management: this is the year when the 6 biggest banks generated (well) over $100 billion in profit. They can thank Trump’s tax cuts, the Fed’s payment of interest on reserves, rising interest rates, a jump in dealmaking and a retail-banking boom (if not so much the “bad volatility” that resulted in a plunge in fixed income, currency and commodity trading fees).
As Bloomberg first noted, JPMorgan, Bank of America, Wells Fargo and their peers have already reported more than $111 billion of profit for 2018, and Morgan Stanley will complete the money-center picture tomorrow when it releases its fourth-quarter results Thursday and only makes this number bigger.
While JPMorgan and Bank of America both had record years, Goldman and Citigroup had their biggest annual profits since the financial crisis. The staggering profits, coupled with upbeat commentary about 2019 may ease fears that rate hikes and trade wars will bring an end to good times for the biggest banks.
The NYPD said that several officers sustained injuries, including one who was struck in the head with a garbage can and another who was punched in the face. Protesters shut down the street around police headquarters in St. Louis, Missouri.
Riots broke out in Minneapolis, and fire crews responded to 30 intentionally set blazes during the protests, including at least 16 structure fires. Violence spread a few miles away to a Target store in St. Paul’s Midway neighborhood where police said 50 to 60 people rushed the store attempting to loot it.
Trump’s executive order can be reversed by his successor when he leaves office, therefore, Congress should pass a law against censorship. But it won’t because politicians accept generous campaign contributions from big tech.
Dr. Fauci and Dr. Birx relied on bogus computer models to frighten politicians into shutting down the country. Last week, after 39-million Americans lost their jobs, Fauci acknowledged that staying closed could cause “irreparable damage!” [Every school child in the country could figure that out, so why did he do it?
Church pastor Jerry Waldrop filed a lawsuit against the city of Holly Springs, alleging police officers had disrupted Easter service, and some believe that the fire was set by people who support the lockdown.
JP Morgan CEO Jaime Dimon acknowledged that the stock market is rising only because the Fed is using taxpayer dollars to save large companies. These bailouts are rewarding bad behavior by banks and their favored businesses, and it is creating massive debt that will destroy the nation.
While Bill Gates was spreading panic over the coronavirus and pushing for a 3-month lockdown, the Bill and Melinda Gates Foundation was buying up tech stock, such as Apple, Amazon, Google-parent Alphabet, and Twitter, all of which did a booming business during the lockdown.
The doctors say the loss of livelihoods are causing poverty, loss of homes, despair, alcoholism, drug abuse, and suicides. It is the view of these doctors that these effects are more deadly than the virus.
People objected to sensors that would be placed everywhere collecting data on everything. They also were not not comfortable with a private company running their city [Good decision on the sensors, but it is hard to imagine that private-sector crooks would be much worse than public-sector crooks.]
Gates’ banker father was head of Planned Parenthood and the family was connected to a group of wealthy intellectuals who called themselves Eugenicists. That means they advocated so-called public-health programs that secretly sterilize those who are considered by the elite to be unworthy of procreation.
Heather MacDonald says says the longer people are under lockdown, the more dependent they become on the government for survival – which is what socialism, communism, fascism, and all other forms of collectivism are all about.
The proposed law law would enable mainland Chinese police and military agencies to operate on city soil for the first time. Protesters were hit with tear gas and a water cannon. At least 120 were arrested.
The state currently is counting anyone who dies WITH the virus as having died FROM the virus. Nevertheless, the epidemiologist on the payroll of the state’s Department of Health continues to claim that virus deaths are being undercounted.
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Jerry Day explains why the tests for coronavirus are worthless. The tests have been used on dead people to create false death statistics. Day points to the real crisis, which is economic, caused by debt and policies of the banking cartel called the Federal Reserve.
The largest shareowners of the New York Fed are the following five Wall Street banks: JPMorgan Chase, Citigroup, Goldman Sachs, Morgan Stanley, and Bank of New York Mellon. JPMorgan Chase, Citigroup, Goldman Sachs, and Morgan Stanley are also four of the five largest holders of high-risk derivatives.
This move will facilitate phasing out currency altogether by allowing VISA to use its payments system to exchange fiat dollars for crypto dollars. The cashless society, which long has been the dream of bankers and globalist, soon will become a reality.