Bank of America Offering $13 Billion to Resolve Probe
Bank previously offered about $12 billion to settle the matter..
by CNBC
Yellen: Fed will continue economic intervention
Fed will keep interest rates near zero for “considerable period.”
by Martin Crutsinger

House GOP Slashes IRS Tax Enforcement Budget
25 percent cut that would mean fewer audits of taxpayers..
by AP
The Final Warning: Individual Investors Piling Into Stocks, Market Leverage Hits All Time Highs
The story goes that in the Winter of 1928 Joe Kennedy, father of President John F. Kennedy, went to have his shoes shined.
by Mac Slavo

Citigroup to Pay Record Fine in $7-billion Mortgage Settlement
Citigroup to pay $7 billion in fines and relief over claims it misled investors about mortgage securities.
by Jim Puzzanghera & E. Scott Reckard
Gold Rises as Investors Watch Fed
Gold for July delivery rose 1.3% last week to $1,337 a troy ounce.
by Ira Iosebashvili

The deteriorating economic outlook
It cannot be long before Americans experience economic catastrophe.
by Paul Craig Roberts, Dave Kranzler and John Williams
Mexico Looks To Back Peso With Silver: “Would Unleash a Global Power Shift”
New silver-backed currency in Mexico or any other country could be a boon for precious metals.
by Mac Slavo


Yellen Is Flat-Out Wrong: Financial Bubbles Are Caused By The Fed, Not The Market
To maintain the idea of market-based mess is to be intentionally obtuse.
by Jeffrey Snider
By "Punishing" France, The US Just Accelerated The Demise Of The Dollar
The head of the French central bank, and ECB member just issued a direct threat to the world’s reserve currency (for now), the US Dollar.
by Zero Hedge

Bank of France Governor Body Slams US Dollar
“Trade between China and Europe — do it in euros, do it in renminbi, stop doing it in dollars..”
by Stacy Herbert
U.S. Markets Are Closed, But Here's What Else Is Going On
The rest of the world’s financial markets would be better off closed.
by Zero Hedge

The BRICs Are Morphing Into An Anti-Dollar Alliance
If the current trend continues, soon the dollar will be abandoned by most of the significant global economies..
by Zero Hedge
U.S. Bank Must Cough up $200 Million
Bank admitted it repeatedly certified mortgage loans that did not meet HUD requirements, DoJ says.
by Courthouse News

ECB Keeps Rates Unchanged, Deposit Facility Rate Stays Negative
“..interest rates on the marginal lending facility and the deposit facility will remain unchanged at 0.15%, 0.40% and -0.10% respectively..”
by Zero Hedge
(Another) Idiot Economist Says We Need "Major War" to Save the Economy
Preface: Two weeks ago, well-known economist Tyler Cowen (a professor at George Mason University) argued in the New York Times that wars – especially “major wars” -  are good for the economy. Cowen joins extremely influential economists like Paul Krugman and Martin Feldstein – and various talking heads – in promoting this idea. Also, many congressmen assume that cutting pork-barrel military spending would hurt their […]
by George Washington's blog