Economy News – KWN – Greyerz – This May Crash Europe’s Financial System And Lead To The Next Global Crisis And Collapse

Zero Hedge – Minimum Wage Massacre: Wendy’s Unleashes 1,000 Robots To Counter Higher Labor Costs
by Tyler Durden Feb 28, 2017
Wendy’s chief information officer, David Trimm, said the kiosks are intended to appeal to younger customers and reduce labor costs. Kiosks also allow customers of the fast food giant to circumvent long lines during peak dining hours while increasing kitchen production.
As Dispatch.com reports, the Dublin-based burger giant started offering kiosks last year, and demand for the technology has been high from both customers and franchise owners.

KWN – Gerald Celente: Broadcast Interview – Available Now

KWN – ALERT: Legend Art Cashin Just Issued A Dire Warning
On the heels of another record breaking week for the Dow, legend Art Cashin just issued a dire warning.
Eric King:  “When you look at the stock market, Art, we keep hitting one record high after another on the Dow.  As the market continues to melt-up, do you sometimes step back and say, ‘I’ve seen this movie before and it doesn’t always have a good ending?’”
Art Cashin:  “Well, it’s funny you say that.  I wrote in my comments yesterday about the fact that the Dow being up nine consecutive record closes has only happened five times since 1897.  And in virtually all of those cases it didn’t end well.  It didn’t end badly immediately after the streak was broken but a year or so later there were problems.  The most recent time we’ve seen it they had 12 records in a row in early 1987, (laughter) and we all have some scars from what happened later in 1987.  It also happened in 1929.

Thomas Dishaw – Barclays bank goes down over the weekend, millions unable to access cash or use credit cards
A server crash on Barclays network Saturday gave many customers an unwanted glimpse into the chaotic future of a cashless, automated society. The crash left many unable to access their funds, unable to use internet or telephone banking and caused many cash machines to go down as a result of hardware failure.
Customers noted that their debit cards were declined even for small purchases like a 17p banana. Many took to social media to express frustration over the inability to withdraw money from in ATMs or be able to pay for purchases in shops and pubs around the world. Some reported being stranded because they could not access funds to buy tickets to return home. Others expressed desperation of not being able to feed themselves or their families.
Panic set in when Barclay’s admitted they had not idea how long it would take to fix the issue, even speculating that it could take until Monday. The bank released a statement saying it was “working to fix” a problem and advised customers to use other banks’ cash machines. It added that telephone banking and in-branch payments were also affected and apologized “for any inconvenience.” Barclays also reiterated the fact that no customer will lose out financially because of the hardware crash and any relevant fees would be reimbursed as soon as possible, another concern that some users called out.
There is still no word how many of Barclay’s 15 million card customers were affected by the outage. There is no doubt this experience echoes the fears and concerns many still have of completely cashless societies. Becoming dependent on cards leaves us vulnerable to situations like this. And the increase of automation results in fewer bank branches where you can go in and manually withdraw money from your account.
Globalists have indoctrinated many of us to believe that electronic currency is more convenient and easier to access than paper currency. But the advantage for cash remains that it is tangible and can be used to trade goods at face value, whereas we see in this scenario that if the value on your debit or credit card cannot be accessed, it doesn’t exist.

KWN – Greyerz – This May Crash Europe’s Financial System And Lead To The Next Global Crisis And Collapse
With continued uncertainty around the globe, today the man who has become legendary for his predictions on QE, historic moves in currencies, spoke with King World News about why Target2 may crash Europe’s financial system and lead to the next global crisis and collapse.
100 Years Of Massive Credit Expansion
To own gold is not climbing a wall of worry. For anyone who understands the problems that the world is now facing, physical gold ownership gives peace of mind and the best insurance that money can buy. So why are less than 0.5% of world financial assets invested in gold and gold stocks? There are several reasons for this. Firstly, 100 years of massive credit expansion and money printing have mainly inflated the asset classes that investors understand, be it stocks, bonds or property. Also, financial repression, which in layman’s terms means manipulation, has totally distorted most financial markets. With the help of derivatives, governments, central banks, investment banks and hedge funds can create false markets in most investment areas. If a market is massive and global, like currencies, they are very hard to manipulate, except if several major sovereign states collude. But in a small market like gold and silver, it is extremely easy to manipulate prices. Even more so when a lot of it is done with the assistance and blessing of governments…

Zero Hedge: Two Major Central Bank Insiders Just Gave a Clear Signal What’s to Come

Two Major Central Bank Insiders Just Gave a Clear Signal What’s to Come

Are you ready for inflation?

On Friday, both the Bank of England AND the US Federal Reserve made clear signals that they WANT inflation.

The Bank of England is prepared to tolerate higher inflation over the next few years and will keep interest rates low to support economic growth, according to Governor Mark Carney.

Source: Telegraph

In a further indication that the Federal Reserve will be inclined to let inflation run hot for a while, Chair Janet Yellen on Friday said it’s useful to consider the benefits of a “high-pressure economy.”

Source: CNBC

These two announcements hit the same day at roughly the same time. This was a coordinated verbal intervention by two major Central Bank heads.

Folks, this is as close as you can possibly get to a Central Banker literally telling you what to buy. Central Banks want inflation and have even signaled that they’re willing to let it run ABOVE their targets.

Bulgaria tries to contain bank run

Bulgaria tries to contain bank run

June 30, 2014: 11:31 AM ET

Bulgarian authorities have made seven arrests and pumped more than $2 billion into the country’s financial system in a bid to prevent a bank run spiraling out of control.

Officials blamed the rush to withdraw deposits on a coordinated attempt by individuals to destabilize the banking system by spreading unfounded rumors via social media, emails and text messages.

“There is no cause or reason to give way to panic. There is no banking crisis, there is a crisis of trust and there is a criminal attack,” said Bulgaria’s President Rosen Plevneliev in a public address on Sunday after the arrests were made.

It all started roughly 10 days ago when messages began circulating warning people that the country’s financial system was unstable. Bulgaria’s Corporate Commercial Bank ran out of money and was placed under state control.

The collapse revived memories of a previous Bulgarian banking crash in the 1990s, and as the rumors kept coming another Bulgarian bank — First Investment Bank — was overwhelmed by people rushing to withdraw their savings.

That bank was forced to close temporarily on Friday after its branches and ATMs were drained.

In response, the central bank said over the weekend it would provide a credit line worth 3.3 billion Bulgarian lev ($2.3 billion) to the country’s banks to reassure people about the safety of their savings.

More at:

http://money.cnn.com/2014/06/30/news/economy/bulgaria-bank-run/index.html?iid=HP_River

 

CEO Of Liechtenstein Bank Frick Murdered In Broad Daylight

CEO Of Liechtenstein Bank Frick Murdered In Broad Daylight

Over the weekend the world was gripped by the drama surrounding the mysterious murder-homicide of the former CEO of Dutch bank ABN Amro and members of his family, and whether there is more foul play than meets the eye. However, that is nothing compared to what just happened in the tiny, and all too quiet Principality of Lichtenstein, where moments ago the CEO of local financial institution Bank Frick & Co. AG, Juergen Frick, was shot dead in the underground garage of the bank located in the city of Balzers.

Based on preliminary reports, the murder is the result of a disgruntled fund manager, Juergen Germann, who had previously been embroiled in a “bitter dispute” with the government and the bank. Bloomberg has more:

 
 

A 48-year-old man was shot dead in the underground garage of a financial institution in Balzers at 7:30 a.m. local time, the principality’s police said on its website. The suspect, Juergen Hermann, fled the scene in a Smart car with Liechtenstein number plates, according to police. Neither the victim nor the institution were identified in the statement.

 

The deceased was Juergen Frick, CEO of Bank Frick & Co. AG, Switzerland’s Radio 1 said in an e-mailed statement, citing employees of the bank. Calls to Bank Frick were answered by a voice-mail message saying the company is closed because of “a death.” It gave no further details.

 

Hermann is a fund manager who has been embroiled in a dispute with the Liechtenstein government and Bank Frick for many years, Switzerland’s Radio 1 said.

 

The Liechtenstein government and the country’s Financial Market Authority “illegally destroyed my investment company Hermann Finance and its funds, depriving me of my livelihood,” according to a website registered under the name Juergen Hermann of Hermann Finance AG.

 

He has filed lawsuits seeking recovery of 200 million Swiss francs ($225 million) from the government and 33 million francs from Bank Frick, according to the website. The lender “illegally enriched itself,” among other alleged crimes, it said.

 

A representative of Hermann’s lawyer declined to comment when reached by telephone. A call to Hermann Finance’s office was answered by an employee of a law firm who said his company isn’t related to Hermann Finance.

The narrative against the “publicly hostile” alleged shooter has already been flushed out.

 
 

Hermann has been “publicly hostile” to the country’s Financial Market Authority and some of its employees, forcing it to take security measures in consultation with the police, FMA spokesman Beat Krieger said in an e-mail today.

 

The escape vehicle was later found in the village of Ruggell, 25 kilometers (16 miles) north of Balzers, police said.

 

“The area is being searched by police with dogs and helicopters,” the 120-member police force said. Zurich police are helping to document the crime scene, spokesman Mario Cortesi said.

Here is the update form the local police station:

 
 

On Monday morning, it came in Balzers a homicide, the suspect is currently volatile.

 

Against 07.30 clock in an underground garage of a financial institution is a homicide in which a 48-year-old man was shot occurred. When volatile suspects are Jürgen Hermann from the Moors. He is armed and dangerous, according to police reports, the investigation of the National Police is in full swing.

 

Notes on a possible whereabouts of the suspects are requested immediately to the police landing +423 / 236 71 11. Upon encountering the suspect, it is important to exercise extreme caution.

Below is the profile of the murdered CEO, still on the bank’s website:

 
 

As CEO Jürgen Frick is closely involved in all business activities of the bank with a special focus lying on client advisory, financing and financial product development. As well he supervises all real estate development projects of the Bank.

 

Jürgen is also Chairman of the Board at Crystal Fund Management AG, a subsidiary of Bank Frick & Co.

 

As for the bank itself:

 
 

Bank Frick is active in modern wealth management and provides a range of advisory services. As well it specializes in fund development and fund administration.

 

Our Bank entertains close ties to an efficient network of fiduciaries, insurers, tax experts, investment funds and law firms around the world.

 

We are completely independent. Our advice and our services cater exclusively to the individual needs and requirements of our clients.

 

Combinvest Establishment serves as holding for all bank shares. Family Frick is the majority stake holder.

 

After a successful career in international banking and fiduciary services, Kuno Frick senior founded in December 1998 Bank Frick & Co. AG. Due to his wide experience and excellent connections, Bank Frick proved an immediate success.

 

Since then, the bank’s assets under management have risen steadily. New business segments are continuously being added to the bank’s service portfolio, while existing ones are constantly being refined.

 

In autumn 2011, Bank Frick’s international presence was significantly enhanced with the opening of Bank Frick UK Branch in Mayfair, London.

Up until now it was mostly banker suicides. With the first open bank CEO murder, one wonders if there will be a change in the pattern.

Harvard Economist Fears Starting “Bank Run” on BoA by Withdrawing $1 Million

Harvard Economist Fears Starting “Bank Run” on BoA by Withdrawing $1 Million

Another ominous warning of imminent economic turmoil

Paul Joseph Watson

Infowars.com February 4, 2014

Former Harvard Professor of Economics Terry Burnham fears starting a “run” on Bank of America after he made public his decision to withdraw $1 million dollars from his checking account as a protest against Janet Yellen beginning her term as Federal Reserve head this month.

Image: Bank of America (Wikimedia Commons).

In an article for PBS entitled Is your money safe at the bank? An economist says ‘no’ and withdraws his, Burnham, an ardent critic of the Fed, writes, “Why do I risk starting a run on Bank of America by withdrawing my money and presuming that many fellow depositors will read this and rush to withdraw too? Because they pay me zero interest. Thus, even an infinitesimal chance Bank of America will not repay me in full, whenever I ask, switches the cost-benefit conclusion from stay to flee.”

Burnham explains that Bank of America may be “unwilling or unable” to return his money should one of a number of different circumstances arise, such as depositors demanding their money back en masse, or if the investments on which 90% of depositors’ money Bank of America has loaned out to cover go bust.

In addition, Burnham points out that the FDIC, which guarantees to insure deposits up to $250,000, only has about $41 billion in reserve against $6 trillion in insured deposits.

The Harvard economist pins the blame of economic uncertainty on government intervention, and specifically Ben Bernanke and the Federal Reserve for pursuing absurd quantitative easing policies which will “unravel in the U.S. as it has every other time it has been tried from Weimar Germany to Robert Mugabe’s Zimbabwe.”

‘Dollar valueless, about to crash’ – World Bank whistleblower

The US government shutdown – a temporary ailment or a symptom of a grave disease? Are the Republicans right in their move to block Obamacare spending? Who gains from the shutdown turmoil? Do the politicians care about their citizens? Our guest comes from the very heart of the banking system: Karen Hudes was World Bank lawyer when she blew the whistle on major corruption cases in the system and was fired as a result.