GOLD is the money of the KINGS, SILVER is the money of the GENTLEMEN, BARTER is the money of the PEASANTS, but DEBT is the money of the SLAVES!!!

Tuesday, September 22, 2015

Stocks Slump as China Slowdown Fears Pressure Crude Oil

Bank of America's (BAC) Brian Moynihan will remain as both chairman and CEO after 63% of shareholders voted against a potential split. Moynihan has held the chairman position for nearly a year, though certain vocal shareholders had petitioned for a split in duties. Renewed fears over China's economic health, a fresh rout on commodity markets, and continued uncertainty over a Fed rate hike triggered a heavy selloff on Wall Street. Benchmark indexes were down more than 1%. Weatherford (WFT) soared after it said it would not pursue previous plans for a public offering. Shares of the oilfied services company had seen their biggest dive in seven years on Monday after it announced it would sell $1 billion in stock and convertible debt.

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