United States

We have reported for years that Russia and China have been doing everything they can to displace the use (and influence) of the US dollar.

The US of course, either oblivious or too arrogant to care, has continued to bring Russia and China together by annoying both equally with its incessant meddling. Recall that recently both China and Russia have had to warn the US about its insistence on flying reconnaissance planes too close to their borders.

Authored by Llewellyn Rockwell via LewRockwell.com,

In 2012, Barack Obama warned that the United States would fall into a depression if Ron Paul’s plan to cut $1 trillion from the federal budget were enacted.

Wait, I beg your pardon. It wasn’t Obama who warned that budget cuts would lead to a depression.

It was Mitt Romney.

Romney went on to become the nominee of the self-described free-market party.

Submitted by Christoph Gisiger via Finanz und Wirtschaft,

Eugene Fama, professor of finance and Nobel laureate thinks that negative interest rates won’t help to bring back growth and warns that big banks are still posing a high risk to the financial system.

Americans: A Conquered People: The New Serfs

Paul Craig Roberts

As readers know, I have seen some optimism in voters support for Trump and Sanders as neither are members of the corrupt Republican and Democratic political establishments. Members of both political establishments enrich themselves by betraying the American people and serving only the interest of the One Percent. The American people are being driven into the ground purely for the sake of more mega-billions for a handful of super-rich people.

Following the latest month abysmal trade and PMI data out of Japan overnight (April exports crashed -10.1 %, worse than the exp. -9.8 and worse than last month's -6.8% while imports plunged -23.3% also far worse than exp. -18.8 and March -14.9%; PMI 47.6, Exp. 48.3, last 48.2), it was supposed to be a straight up for the USDJPY, and its carry linked E-mini.