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.
Robert Mueller suggested to Congress that they have a potential obstruction case, which creates an opening for Congress to Impeach the President anyway. The burden may now be on the President to prove he is innocent.
Thai authorities filed a complaint accusing the couple of breaching a section of the country’s criminal code that relates to threatening the sovereignty of a state, and erosion of a state’s independence – these charges carry a death penalty!
According to a poll recorded in 2016, a stunning 67% of Republican voters thought mass immigration was a critical threat, but only 16% of GOP leaders agreed that it was a serious problem. Politicians serve their donors instead of their constituents, which has led to bad US immigration policies and open borders.
The health department has not disclosed the number of people who contracted measles post-vaccination. One doctor cited in the lawsuit argues the current Brooklyn measles cases are not “a clear and present danger to the public health” sufficient to require a mandatory vaccine order.
Instead of releasing asylum sekers, the Department of Homeland Security will have the authority to detain them indefinitely. The effect is expected to discourage new migrants because they will not be able to work and send money to their country of origin if they are imprisoned.
President Trump rejected a resolution from Congress to end US military support for the Saudi-led war in Yemen. Congress has the legal ability to compel the removal of US military forces, absent a formal declaration of war.
‘Press for Truth’ received a response from the Royal Canadian Mounted Police to his letter sent in 2017 requesting permission to inspect the surveillance video from six different cameras that recorded the January, 2017, mosque shooting in French Quebec.
After President Trump threatened to bus hordes of inbound migrants into sanctuary cities and the sanctuary state of California, Cher, the actress and singer who once advocated welcoming migrants into their homes, has changed her mind.
Stefan Molyneux questions the official story that the fire was accidental and presents reasons for suspecting it is part of the series of recent attacks against Catholic churches that have been blamed on ISIS. There were a dozen incidents of arson or serious vandalism against churches in just one week last month.
Polls show that 71% of Americans favor the single-payer modal when they are told that it guarantees insurance for all, but support drops to only 37% when people are told that the single-payer model will increase taxes.
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Offline is a documentary on the inevitability of the Earth being slammed by a mega solar flare – not the common type that interrupts communications and creates a light show in the Northern skies – but the big brothers thousands of times more powerful. These monsters deliver enough energy to blow apart the master transformers that supply the planet’s energy grids. When that happens, the lights go out for longer than anyone wants to think about. These X-Class solar storms hit the Earth every 150 years, on average. The last one arrived 156 years ago. We are overdue (More)
Ten Days at Jekyll Island, a novel by Patrea Patrick, tells the true story of a secret meeting held in November of 1910 on a privately owned resort island, the outcome of which drastically changed the world. It was at this meeting that a banking cartel was forged; a cartel that, three years later, would be issued a government charter to do business as The United States Federal Reserve System. You will discover why secrecy was essential. Based on historical documentation from The Creature from Jekyll Island by G. Edward Griffin. (More)
In this interview, G. Edward Griffin exposes the dark secret behind money creation and shows how bankers help create laws that legalize their crimes. How this money monopoly can be dismantled is discussed along with other important issues relating to the banking system.
Goldman Sachs’ startup cryptocurrency company, Circle, is launching the US Dollar Coin, or USDC, with the goal of replacing US currency. Coinbase, which is owned by the Federal Reserve, is on track to become the nation’s crypto-regulatory agency.
Nearly all the interest the Federal Reserve collects on government debt is rebated to the Treasury each year. However, the banking cartel is able to use tax dollars to pay 100% of its operating expenses with a blank check.