– Bank Of America Misses Revenue By $2 Billion As Trading Revenue Collapses; Fires Thousands (ZeroHedge, Jan 15, 2015)
The man who trades freedom for security does not deserve nor will he ever receive either. – Benjamin Franklin
– Bank Of America Misses Revenue By $2 Billion As Trading Revenue Collapses; Fires Thousands (ZeroHedge, Jan 15, 2015)
I saw an interesting post on Zerohedge saying there would be no bail out this time…….what is closer to the truth is the fact the FED is no longer the power player on the street. SNB was just the beginning, remember Switzerland is now part of BRICS, not the Euro.
The war against the US since 2010 has been economic, not military, and while the US bumbles around the world waging war with its own paid killers, the net around the US, isolating and squeezing the truth out of its empty economic centers is being drawn tighter and tighter.
The US is soon going to find out what it is like to be just another nation among nations……the world reserve currency game is up, and with it goes 99% of US economic power. The FED no longer controls the world economy as most nations no longer use the dollar to complete purchases with other nations……only about 30% still use the dollar, down from 100% in January of 2010.
So, the post was half correct. There will be no meaningful bailout because the FED no longer has the power, they have hocked the US into oblivion. 100.6% of debt to GDP is now the US number. The Euro is in even worse shape, another reason Switzerland wisely chose to go with BRICS.
BRICS is the economy of today and tomorrow. Pity our leaders are making all the wrong moves, but you cannot put the genie back into the bottle. Now that it is out…………it is out, along with the truth.
Even facing destruction, while B of A is firing thousands of people, I bet they find a way to feed bonus’ to the greedy gut executives. This is what happens when a nation forfeits its right to oversight of the financial branch of the system. Foxes have gotten into the hen house, have eaten the chicken that laid the golden egg (the middle class) and are pretending all is well.
It is overdue time for an honest, open review. The only way that happens when criminals are in power is when the economic system collapses…….those bastards will go to the wall to protect their greed.