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 mainstream media is ridiculing the proposed ban as a ‘conspiracy theory’, but a poll of 1,000 people found that about 10% of Americans believed in chemtrails “completely,” while upwards of 30% of Americans at least found it “somewhat” true
New World Order veteran expert G. Edward Griffin joins Maria Zeee to discuss the history of the one-world government, how the financial/banking system is a lie and is about to collapse, and what people need to do now that “they” have been exposed.
Polly says the plan is to track people and their emotions so that machines can vote in your place.. The goal is to supplant human decision-making with a machine interface to replace democracy. Humans will become databases. Individualism is being sacrificed for the ‘greater good’ of being replaced by machines.
The cargo ship ‘Dali’ that was operating under the flag of Singapore, lost power and crashed into Baltimore’s Francis Scott Key Bridge, causing it to collapse. Biden said that the federal government should pay for the cost of rebuilding the bridge rather than insurance for the ship or bridge paying for the damage.
Morgan Gargiulo, an aspiring actor, created a fake lease, moved into a mansion, threw massive parties and charged rent. He charged between $500 to $1,500 for entry to his parties. California “adverse possession” statutes allow squatters to stake a claim over a property after five years of uninterrupted occupancy.
Microplastics are becoming more abundant and are present in the air, soil and water. Seepage from landfills can pollute water sources with microplastics. These synthetic substances have been found in our food and inside of our organs. They can sneak into our bodies through our clothing and cosmetics.
Authorities have linked the increase in dengue fever cases to climate change, yet they neglected to investigate the effect of dumping 2.4 billion GMO Bill Gates-backed mosquitoes across the world. Google is involved in the sterile mosquito experiment while DARPA funded the mutant Wolbachia bacteria mosquito experiment.
According to the latest provisional data from the CDC, there are about 80,000 overdose deaths per year across the US. A Bloomberg poll of nearly 5,000 voters shows 8 in 10 voters in seven swing states believe fentanyl misuse is a “very important” or “somewhat important” issue when deciding who to vote for in November.
Representative Warren Davidson said, “It’s a sad, disappointing day. Republicans promised to spend less and secure the border. This bill does neither.” The national debt recently skyrocketed to over $34.578 trillion.
Squatters in some blue states are treated like tenants and law enforcement doesn’t help, so landlords are forced to evict them through a lengthy and costly court process.
Gunmen killed 133 concert goers. The building was set on fire. Four Tajik nationals were arrested as their vehicle tried to escape to Ukraine. An affiliate of ISIS operating in central Asia claimed responsibility for the attack. The US warned Russia of a potential attack. The CIA may be involved.
Candace was labeled an antisemite after making a comment about Hitler giving nationalism a bad name was out of context. Her career was put on ice until she had a secret meeting with a rabbi to restore her reputation. The media still pretends that she made an antisemitic slur.
Leonel Morena, an illegal alien from Venezuela living it the US, made this announcement: “My people have thought about invading a house in the United States because I learned that there is a law that says that if a house is not inhabited we can expropriate [seize] it.” The video has racked up 4 million views.
The recent photo of Kate with her three children created a scandal because it was modified. This incident points toward artificial intelligence playing a large role in constructing narratives in the future using fake photos and videos that may discount important evidence.
Irish Prime Minister Varadkar told Biden that the Irish have deep compassion for the Palestinian people and compared the Irish famine with the war and starvation currently in Gaza. Varadkar said that Palestinians need food and water, but they especially need the bombs to stop.
There is a shortage of recruits for the US military due to wars over oil and other resources, COVID vaccine mandates and demoralizing policies. Democrat Senator Dick Durban’s solution is to pass a law allowing ‘undocumented’ people who serve in the US military honorably to become citizens of the United States.
Polish farmers used their tractors to block a major highway crossing the border with Germany in an ongoing protest against European Union agricultural ‘green’ policy and duty-free imports from Ukraine.
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For Sale
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)
The FDIC insures $9 TRILLION of bank deposits with only $125 billion worth of assets. The FDIC cannot insure everybody in a crisis when many people want to withdraw their money all at once. A critic predicted that $5 trillion would be added to expand the balance sheet to bail out banks.
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.
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.