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“Modernized Phillips Machine”, by the great WilliamBanzai7.
Fed Stress Test a Farce
Economics professor and former bank regulator William Black thinks some institutions are insolvent now, like Bank of America. He wants B of A taken to receivership. B of A just announced 2 weeks ago that half of its 13.9 million mortgages are "bad." Black also says the FASB rules are a "farce." Late last year, he co-wrote an Op-Ed piece in the Huffington Post that said, "This accounting scam produces enormous fictional "income" and "capital" at the banks. The fictional income produces real bonuses to the CEOs that make them even wealthier. The fictional bank capital allows the regulators to evade their statutory duties under the Prompt Corrective Action (PCA) law to close the insolvent and failing banks. . . . We have made the CEOs of the largest financial firms "” typically already among the 500 wealthiest Americans "” even wealthier. We have rewarded fraud, incompetence, and venality by our most powerful elites."
http://usawatchdog.com/fed-stress-test-is-a-farce/
Sprott physical silver trust premium jumps to 23%!!
ATF "scrambles some eggs"
Egypt bans gold exports in any form
Vietnam bans gold bars
Dominoes
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