Archive Blog from October 26, 2016 by Anne Trimble
– United States Senate overrides President Obama’s veto of JASTA. The vote was 97 to 1. Harry Reed cast the “no” vote. There were two senators who did not vote. Tim Kaine and Bernie Sanders. Now that is interesting. The House will probably vote Friday.
– Saudi Arabia announces cut back in oil production. We are not certain which came first, the Saudi announcement or the Senate vote. Oil prices shot up and remember, the Petro Dollar trading process that has been in existence since the 1970’s hangs in the balance as world events unfold.
– Saudi Arabia, (one of the biggest U.S. Treasury holders), along with China, Japan, and other oil-producing countries are selling (treasuries) in response to growing troubles in their own economies.
– Deutsche Bank stocks continue to slide as they scurry to find funds to cover a $14 Billion fraud suit filed by the United States. Not to mention the enormous they have in derivatives. If Deutsche Bank were to go under, it would take other banks around the world with them—to include American banks. Economists report that Deutsche Bank is more leveraged than Lehman Brothers was before it collapsed. Angela Merkel stated they would not be bailed out. S&P has the bank in its crosshairs and could downgrade their rating.
– ISM Non-Manufacturing Index — which measures services in the U.S. — fell to its lowest level since 2010.
– Friday, September 30 that midnight, the U.S. Budget will or will not be passed. At the moment there is no indication it will be passed, nor is there a measure to extend the time frame on the table.
It is imperative that we pay sober and prayerful attention to events as they occur in the United States, but also in the world. Obviously political and economic happenings reach past our borders.
There are many more issues to discuss, but in the meantime, please consider your personal financial situations in light of our ever changing world today. Contact us as soon as possible so that we may begin the process of protecting your assets with God’s Money, gold and silver.
We will keep researching.