ECONOMY | WHAT REALLY HAPPENED


ECONOMY

Dec 12 07:33

Presenting The $303 Trillion In Derivatives That US Taxpayers Are Now On The Hook For

Courtesy of the Cronybus(sic) last minute passage, government was provided a quid-pro-quo $1.1 trillion spending allowance with Wall Street’s blessing in exchange for assuring banks that taxpayers would be on the hook for yet another bailout, as a result of the swaps push-out provision, after incorporating explicit Citigroup language that allows financial institutions to trade certain financial derivatives from subsidiaries that are insured by the Federal Deposit Insurance Corp, explicitly putting taxpayers on the hook for losses caused by these contracts.

Dec 12 07:26

A Warning About Crude Oil's Bear Market

Dec 12 07:20

Germany, Stuck with Massive Bill for Ukraine, Asks Russia for Help

The last two paragraphs in the article show that the German Finance Minister Wolfgang Schauble has been obliged to telephone Anton Siluanov, Russia’s Finance Minister, to ask him not to call in Russia’s $3 billion loan, which becomes automatically repayable when Ukraine’s debt exceeds 60% of its GDP, something which everybody knows has now happened.

It also says that “George Osborne, the UK finance minister, expressed surprise at the request, attendees said, saying the EU was now asking for help from Russia at the same time it was sanctioning the Kremlin for its actions in Ukraine.”

In other words in order to “save” Ukraine (and their own political reputations) the European leadership is now being forced to turn to Russia for help - the same country they accuse of invading and destabilising Ukraine and which they have sanctioned.

Webmaster's Commentary: 

And Russia will step in to help, pulling the rug out from under US meddling in Europe.

Dec 11 18:35

New Federal Law Targets Retirement Benefit Cuts: “We Thought Our Pension Was Secure”

There have been Senate hearings, exploratory committees and rumors over the years, but nothing had ever really been legislated so most Americans simply ignored it as another one of those “conspiracy theories.”

Unit now.

Dec 11 16:45

Spending Bill to Get House Vote Amid Discord on Bank Measure

The banking language, insisted upon by Republicans, would ease rules enacted to protect taxpayers against bank losses after souring derivatives trades helped cause the 2008 financial crisis. The dispute over the banking rule is a preview of Republican plans to roll back other business regulations when they take control of both chambers in 2015.

Dec 11 16:19

CRomnibus gridlock as Congress goes on surprise recess with government shutdown looming

The United States House of Representatives has been in an emergency recess since 2 p.m. as dissent on both sides of the aisle grows for the "CRomnibus" spending bill.

Dec 11 13:36

The New Cold War Policy Has Backfired

The world’s geopolitics, major trade patterns and military alliances have changed radically in the past month. Russia has re-oriented its gas and oil trade, and also its trade in military technology, away from Europe toward Eurasia.

The result is the opposite of America’s hope for the past half-century of dividing and conquering Eurasia: setting Russia against China, isolating Iran, and preventing India, the Near East and other Asian countries from joining together to create an alternative to the U.S. dollar area. American sanctions and New Cold War policy has driven these Asian countries together in association with the Shanghai Cooperation Organization as an alternative to NATO, and in the BRICS moves to avoid dealing with the dollar area, the IMF and World Bank austerity programs.

Webmaster's Commentary: 

The United States greatly over-estimated the need other nations have for it, and tried to use that need to coerce compliance, only to find the other nations were perfectly happy to go on about their lives without any entanglements with the US system!

Dec 11 13:13

ISRAEL’S SECRET PLAN FOR A "SECOND ISRAEL" IN UKRAINE

The role of Jewish figures and that of the State of Israel in the Ukrainian crisis has not gone unnoticed considering that this community represents less than 1 percent of the population. However, a secret report in the hands of the Netanyahu administration confirms that Ashkenazi Jews do not originate from the Levant, but are the descendants of the Khazars. This little-known population founded a Jewish empire in the tenth century on the banks of the Black Sea. Therefore, some Zionists see in Ukraine a possible second Israel.

Dec 11 11:12

Industrial silver use will jump 27% by 2018 - CRU

More and more applications for silver are being invented, discovered, and, importantly, commercialized, said a new report from the Silver Institute and CRU Consulting, stoking the growth potential from several of the most important industrial silver applications.

Total industrial silver demand is forecast to reach nearly 680 million ounces annually by 2018, according to the “Glistening Particles of Industrial Silver” report scheduled for public release Wednesday morning.

Half of this growth will occur in the electrical and electronics sector, but additional demand will be due to growth in the use of silver in batteries, Ethylene Oxide (EO) in the chemical sector, anti-bacterial uses of silver, the automotive industry, silver coated bearings, and the brazing alloys/solders sector.

Dec 11 11:03

Drone-only: US Army builds $33mn UAV airport in Texas

At $33 million cost, the project demonstrates America’s unprecedented drive toward the use of unmanned aerial systems.

Dec 11 11:03

$1 trillion spending bill barely hangs on in first test vote

The $1.1 trillion spending bill narrowly survived its first test Thursday when the House approved rules for debate, bringing the bill to the floor and setting up an afternoon showdown that will expose just how deep the divisions run within the Democratic Party.

Senate Democrats were pleading for the bill’s passage, saying it was the best deal possible in divided government, but a House Democratic leader said the bill was so bad it would “fundamentally change our republic” because it altered campaign finance laws and made changes to how banks can trade derivatives.

Dec 11 10:29

Russell Napier: This Has Never Happened Before Without A Drop In Stock Prices

Over the next five years investors now expect inflation to average just below 1.3%. This level of expected inflation has always previously been associated with a decline in US equity prices. There have been no exceptions until today.

Dec 11 10:22

How "Superman of Renters" Daniel Bramzon Revolutionized L.A.'s Eviction-Defense Industry

Rents in Los Angeles have climbed by 25 percent since 2000, according to a UCLA study, while households' median incomes have actually declined. That's left L.A. among the least (if not the very least) affordable cities in which to live in the United States. According to Zillow, a person making the metro area's median income of $59,000 must pay 48 percent of his or her paycheck to cover median rent, which is currently an eye-popping $2,392.

With margins like that, it's easy to fall behind. Some 64,000 to 73,000 people are evicted in L.A. each year — a population equal to that of Redondo Beach. But before the sheriff shows up at their door with a padlock, they're called here, to "unlawful detainer" (legalese for eviction) court. Every day, more than 50 cases move through Department 94.

Dec 11 10:21

Kerry warns students: "We have kleptocrats stealing from the people they’re supposed to represent; Don’t get bought out by the vast sums of money in American politics."

Earlier this year, Secretary of State John Kerry gave some warnings to an auditorium full of university students which never got much attention. It appears the Skull & Bonesman may be feeling a twinge of a guilty conscience. While cloaking some of his remarks towards criticism of corrupt foreign regimes, Kerry did warn specifically about corruption in American politics as well.

"You have these greedy people for whom it is not enough simply to have some power and be able to do good for people, but who want to get rich while they’re doing it at the expense of the people they’re supposed to serve. So we have kleptocrats all around the world, stealing from the people they’re supposed to represent, and levels of corruption that are absolutely extraordinary in various places. And the result is people feel that."

Dec 11 10:15

Ellen Brown: Big Banks Will Take Depositors Money In Next Crash

It gets worse, as Brown goes on to say, “Theoretically, we are protected by deposit insurance up to $250,000 in the U.S. and 100,000 euros in Europe. The FDIC fund has $46 billion, the last time I looked, to cover $4.5 trillion worth of deposits. ”

Dec 11 09:58

European banks are stuck in a severe crisis

Big banks in Europe are riskier than anywhere else in the world.

They have higher non-performing loans, greater asset shrinkage, larger losses and higher debt-to-equity ratios. And European banks are bracing for even worse loan losses.

It’s the combination of those characteristics that lead to a crisis, and the eurozone essentially is in one today.

Webmaster's Commentary: 

The root cause of all these problems is that eleventh marble!

Dec 11 09:54

Mexico vows to sell dollars to halt peso's slide

Mexico is ready to intervene in currency markets to fight the peso's fall against the dollar amid concerns over dropping oil prices and a possible increase in U.S. interest rates.

Dec 11 09:54

McDonald's to pare U.S. menus, ingredient lists

McDonald's Corp said on Wednesday it plans to cut the number of items on its U.S. menus and use fewer ingredients in food as it moves to speed up service, bolster sales and offer consumers personalized options to compete better with Subway and Chipotle Mexican Grill.

Webmaster's Commentary: 

I do not expect this to work. McDonald's may join SEARS and Radio Shack on the endangered icons list!

Dec 11 09:42

7 Questions Gold Bears Haven’t Answered

A glance at any gold price chart reveals the severity of the bear mauling it has endured over the last three years.

More alarming, even for die-hard gold investors, is that some of the fundamental drivers that would normally push gold higher, like a weak US dollar, have reversed.

Throw in a correction-defying Wall Street stock market and the never-ending rain of disdain for gold from the mainstream, and it may seem that there’s no reason to buy gold; the bear is here to stay.

If so, then I have a question. Actually, a whole bunch of questions.

If we’re in a bear market, then…

Dec 11 09:35

THE WRH BANKER ARTICLES: ALL IN ONE CHUNK

I have received many emails regarding the various articles I have written about the problems with the current economic system of being forced to borrow all currency at interest from a privately-owned central bank. This is, of course, the very system of banking the United States fought a revolution to be free of, only to be sold back into said banker slavery not just once, but three times by corrupted congresses and corrupted presidents.

I have been asked to collect all those articles into a single page to make it easier for people to send to their friends, and this collection is the result.

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WRH Exclusive
Dec 11 09:32

Your Survival Depends On Taking Your Money Out of the Bank

Nearly every publication estimates the derivatives debt to be in the range of one quadrillion dollars to $1.5 quadrillion dollars. Conservative estimates tell us that this derivatives debt, that has been assumed by the governments of the world, is at least 16 times the entire value of the assets of Planet Earth. This generation cannot pay off this debt. Your children, grandchildren and even great-great-great-great-great grandchildren cannot pay off this debt. If the status quo were to remain in place this debt could not be paid off in the 25th century, the 30th century, nor the 50th century. My estimates place the interest on the debt to exceed the entire value of the world’s assets and the interest is increasing far faster than the governments of the world can service the debt. Who is the debt owed to? It is owed to the first movers, the owners of the central banking system.

Dec 11 09:29

House Budget Deal Strikes Major Blow To Michelle’s School Lunch Program

With school districts around the nation dropping the federal nutrition program backed by Michelle Obama, despite the fact that doing so means a drastic reduction in funding, it is clear that many affected by its mandates are not on board. Students have staged protests against the insufficient, unappetizing fare being offered in lunchrooms, administrators cite the loss in revenue associated with reduced school lunch participation, and parents lament the dearth of choices being presented.

Webmaster's Commentary: 


The new, IMPROVED, Michelle Obama school lunch. Just imagine how nutritious it is!

Dec 11 09:07

Billions in UK green aid goes to booming nations: World's poorest countries 'left behind' as at least £1.6bn from Britain goes to economies including India and Brazil

British funding for green projects overseas is going to major economies such as India, Brazil and South Africa, a report reveals.

The world’s poorest countries are being ‘left behind’ as richer nations scoop up most of the cash, according to the Overseas Development Institute.

Dec 11 09:07

Central Banks’ 2% Plan to Impoverish You

The 2% target is low enough that the household frogs in the kettle of hot water never realize they’re being boiled alive because the increase is so gradual.

A comment by correspondent David C. suggested the importance of demonstrating the impoverishing consequences of central banks reaching their 2% inflation target. David observed: “That central bankers aren’t all hanging by their necks from lamp posts everywhere is a testament to how scarce are those who grasp exponents and compounding.”

Dec 11 08:48

Leadership courts centrist support for $1.1T spending bill as shutdown looms

Congressional leaders were trying to hold the center in the run-up to Thursday’s government shutdown deadline, with Senate Democrats and House Republicans pleading for their troops to back a $1.1 trillion spending bill that had those on both extremes of the ideological spectrum fuming.

House Republican leaders touted dents to the Internal Revenue Service budget and Environmental Protection Agency staffing levels, language that stalls some of President Obama’s plans to battle climate change, and the chance to fight the White House’s deportation amnesty next year as reasons to get behind the massive 1,600-page bill.

Webmaster's Commentary: 

THIS IS A CALL TO KEYBOARDS FOR ALL RIVERO'S RANGERS!

Wherever you see any articles, posts, or blogs about raising the debt ceiling, please post the above graphic, or quote the following...

"The question Americans should be asking is not whether to raise the debt ceiling, but rather why the Federal Government, which is authorized by the Constitution to create and issue interest-free money, instead borrows that money at interest from a privately owned central bank, thereby plunging future generations into debt slavery to that bank? THAT is the real question Americans should be asking!"

This quote is already making the rounds but we need to put this in front of the eyes of every American that we can over the next week as Congress debates just how much further they will sell us all into the slavery of the private central bankers.

Dec 11 08:05

How Wal-Mart Made Its Crumbling China Business Look So Good for So Long

After years of heralding China as one of its best markets, Wal-Mart (WMT) in August said its performance there was among the worst in its major countries. A management shake-up and job cuts have followed.

Dec 11 07:31

Lifestyles of the money-junkies - The World’s Most Expensive Watches: 8 Timepieces Over $1 Million

Webmaster's Commentary: 

A lot of people really do not see the wealth gap between the money-junkies and ... us. As I mentioned in the article about the HYT H1 Hydro-Mechanical Watch, I have a resonance with the art of fine watch making. But the $45,000 price tag for the HYT seemed a bit impractical to me, especially since my CASIO has far more functionality for only $300. But the watches in this article, topping out at $2.5 million for a wrist decoration, make anyone wearing the $45,000 HYT look like a pauper!

Dec 11 07:30

Luxury Brand Retail Stocks: All You Need to Know

Strangely, Americans are getting richer and poorer at the same time, and this is benefiting the luxury brand stocks. While the number of Americans requiring food stamps is at a staggering 48 million or so, at the other end of the spectrum, the rich are increasing their wealth to new record-highs at a rapid pace. This is what will help the luxury brand stocks—a widening income gap that’s seeing the rich rapidly becoming richer.

Webmaster's Commentary: 

Yes, you can make money investing in stocks for companies that cater to the rich. The problem is there are not enough rich to support the entire economy. There are not enough hours in the day for them to buy all the products manufactured by all the people, so they "save time" by buying a few highly overpriced trinkets to prove their wealth.

Dec 11 05:07

Oil industry payrolls 2009 - 2014

Dec 10 19:41

British Tycoon Impaled on Spikes Following 60ft Fall from Luxury London Penthouse

A financier at the heart of one of Britain’s biggest divorce battles has died after falling from his £3 million home and impaling himself on iron railings. Scot Young, 52, suffered horrific injuries after plummeting four storeys from a window of his luxury central London penthouse. His death comes almost a year after an extraordinary legal fight with his ex-wife concluded at the High Court. Michelle Young, 49, won a £20 million payout after a seven-year legal battle but declared the sum a “disgrace” and is never believed to have received the cash. She said she thought Mr Young was worth “billions” and claimed that he had hidden his fortune.

Dec 10 19:30

US Budget Bill Stealthily Allows Banks to Use Federal Deposit Insurance to Cover Swaps and Derivates

Congress has agreed to use federal deposit insurance, which was designed to protect the savings accounts of consumers, to cover risky trading by the nation’s biggest banks. In a small provision in the budget bill, Congress agreed to allow banks to house their trading of swaps and derivatives alongside customer deposits, which are insured by the federal government against losses. Note: This destroys the last remaining albeit (limp wristed) protection Americans had left when they deposit their funds in these banks! If banks fail again, you'll never see your money.

Dec 10 18:02

Leaked Document: Ukraine's Government Set To Eliminate... Everything

In reality, bureaucrats and politicians who produce nothing of value parasitically choke off the productive class through onerous taxation and regulation.

Dec 10 17:11

Disney and Microsoft dragged into Luxembourg tax avoidance scandal engulfing EU chief Jean-Claude Juncker

Giant US businesses Disney and Microsoft have been dragged into the Luxembourg tax avoidance scandal engulfing Brussels chief Jean-Claude Juncker after a slew of confidential documents were leaked.

The Grand Duchy is accused of allowing multinational firms to pay virtually no tax on massive profits – draining resources from countries forced to make drastic cuts to reduce their deficits.

The scandal has dragged in Mr Juncker - Luxembourg’s former Prime Minister. The new president of the European Commission, Brussels' most powerful official, is under mounting pressure to explain the complicated tax deals struck while he was leader.

Dec 10 16:59

BP to spend nearly £640m making hundreds of job cuts as oil price slumps

Continued fall in global oil prices and demand forces BP to plan staff redundancies in all segments over the next year

Dec 10 16:40

How the Fed Grows Government

We are told that elections are important, but the most powerful state institution, the central bank, is totally out of reach of the voter.

Dec 10 16:13

14 Facts That Prove That The Number Of Children Living In Poverty This Christmas Is At A Record High

We live at a time when child poverty in America is exploding.

Dec 10 16:09

Welcome to the Recovery – McKinsey Survey Shows 40% of Americans Living Paycheck to Paycheck, Up From 31% in 2012

Nothing screams economic recovery like 2 out of every 5 Americans living paycheck to paycheck. Especially when that number has reportedly increased by 33% since 2012.

Dec 10 16:08

Loss of Control: The Current Financial Bubble is Busting?

Many who will read this work have been sitting patiently waiting for the house of cards to collapse. For me personally, I confess the current maniacal financial bubble has gone on much longer than I ever imagined. What did we miss?

Are we wrong or just early? In my opinion, we were early, mathematically correct yet the “rules” changed. For my part, I can say that I missed just how much “leverage” could be used to extend the game. In the current instance, we are not even talking about garden variety leverage. We live in a world where leverage is leveraged, leveraged again and again and again.

Dec 10 15:37

Taped Phone Call to Dept of Justice on Trustee Gary F Seitz Chapter 7 Abuse.

From yesterday:

http://mortgagemovies.blogspot.com/2014/12/kingcastmortgage-movies-and...

Wait for the taped phone call in a moment, but note first that former Eckert, Seamans Attorney Margaret England (more info) now works for the same law firm as Gary F. Seitz. England is a racist who called La Mar Gunn a nigger, as noted in a recent Federal Trial that Mr. Gunn won, pro se. So now we have discrimination against a Philipino family, nice.

In this case, the pro se Blanco family tried to file a Chapter 13 but checked the wrong box. Should be a simple matter to convert, right? I mean you know, seeing as they are trying to pay, rather than to extinguish a debt, right?

Dec 10 15:12

Osborne's new 'Google tax' on firms shifting profits abroad is ridiculed as it emerges they will have to report THEMSELVES to the taxman

The levy, which was introduced by George Osborne in last week’s Autumn Statement, is overwhelmingly backed by the public.

But it emerged today that under the new scheme companies will be asked to ‘self-report’ how much tax they have avoided.

One tax expert said: ‘It's a bit like reporting yourself to the police and then having to defend yourself.’

Dec 10 15:04

Game over, Japan

In April, the Japanese government raised the sales tax rate from 5% to 8%, which while doing nothing for the government’s ability to cover debt payments, did significant damage on the country’s growth in terms of GDP.

Clearly that didn’t work out very well, so they’re postponing the planned second increase in the sales tax.

But by doing that, the country’s credit rating was promptly downgraded by Moody’s.

While it’s astonishing that Japan’s rating is still as high as it is, the shift downwards is critical.

This is the beginning of the end. The Japanese government is running out of moves. If they raise taxes, they lose growth; if they don’t, they lose the last remaining shred of confidence from investors that they’ll ever make good on their debt.

Game over, Japan. Hara-kiri seems to be the only option at this point.

Dec 10 15:02

The Retail Apocalypse Accelerates: Collapsing Holiday Sales Are A Signal That A Recession Is Coming

Retail sales during the four day Thanksgiving weekend were down a whopping 11 percent from last year.

This is a “make or break” time of the year for many retailers, and if things don’t turn around during the coming weeks we could see a tsunami of store closings in January and February.

Dec 10 15:01

Plummeting Oil Prices Could Destroy The Banks That Are Holding Trillions In Commodity Derivatives

Could rapidly falling oil prices trigger a nightmare scenario for the commodity derivatives market?

The big Wall Street banks did not expect plunging home prices to cause a mortgage-backed securities implosion back in 2008, and their models did not anticipate a decline in the price of oil by more than 40 dollars in less than six months this time either.

We are heading for a derivatives crisis unlike anything that we have ever seen. It is going to make the financial meltdown of 2008 look like a walk in the park.

Dec 10 14:54

Trade ministers beg Brussels to remove more national sovereignty

Prime Ministers blame Brussels for, well, everything, But trade ministers have just written to EU President Juncker insisting he removes more of their national sovereignty through secret corporate courts.

Conflict rages in Brussels between those seeking to salvage the embattled EU/US trade pact (TTIP) by dropping ISDS as its most controversial aspect, and those who still want to push through the whole project in the face of mounting public opposition.

The ‘investor-state dispute settlement system’ (ISDS) would allow investors and corporations to sue governments in private international tribunals for any policy they deem “unfair” or which could affect their “legitimate profit expectations”.

Dec 10 14:30

Congress and Pentagon Shielding Weapons Contracts From Budget Cuts

Dec 10 14:29

Treasury Department Seeking Survival Kits For Bank Employees

The Department of Treasury is seeking to order survival kits for all of its employees who oversee the federal banking system, according to a new solicitation.

The emergency supplies would be for every employee at the Office of the Comptroller of the Currency (OCC), which conducts on-site reviews of banks throughout the country. The survival kit includes everything from water purification tablets to solar blankets.

The government is willing to spend up to $200,000 on the kits, according to the solicitation released on Dec. 4.

The survival kits must come in a fanny-pack or backpack that can fit all of the items, including a 33-piece personal first aid kit with “decongestant tablets,” a variety of bandages, and medicines.

Webmaster's Commentary: 

Oh shit! :)

Dec 10 13:40

MONSANTO NABS CHICAGO BIG-DATA STARTUP 640 LABS

One of Chicago's more interesting big-data startups, 640 Labs, has been acquired by agriculture giant Monsanto. The company was bought by San Francisco-based Climate Corp., a fast-growing technology unit of Monsanto. Founded by two former Motorola engineers, 640 Labs uses GPS, wireless and mobile technologies to give farmers detailed data on their crops and equipment to improve operations.

Dec 10 13:35

Venezuela Default Probability Has Never Been Higher; Maduro "Working To Raise Oil Prices"

With OPEC slashing demand expectations to 12 year lows, oil prices have re-cratered today putting further pressure on socialist-utopia Venezuala which needs $121/bbl to break-even. Credit risk for the South American nation has exploded today to record highs - implying a 93% probability of default and President Maduro has taken to the airwaves to calm a benefit-needy nation... tensions are mounting...

Default risk has gone vertical...

Dec 10 13:26

Rising Global Inequality and the Reign of Corporate Empire

Today’s world is increasingly becoming dominated by private special interests and multinational corporations who usurp political systems around the world, creating vast wealth inequality and largely rendering democratic political systems futile. As the profits, power and influence of corporations explode in the 21st century, the gap between the rich and the poor spikes in tandem, creating what many believe is the emergence of a new feudal society.

Dec 10 13:07

Congressional leaders hammer out deal to allow pension plans to cut retiree benefits

A measure that would for the first time allow the benefits of current retirees to be severely cut is set to be attached to a massive spending bill, part of an effort to save some of the nation’s most distressed pension plans.

Webmaster's Commentary: 

These pension plans were put into distress when Wall Street's pet ratings agencies rated the mortgage-backed securities as "Triple A", making it legal for pension plans to invest in them. Then when the fraud collapsed in 2008, pensions were defunded. But nobody in either government of the corporate media had the gonads to point the finger of blame for the pensions problem where it belonged and instead blamed "greedy" workers and anyone who had the temerity to live to a ripe old age. So, together with the proposal to drop the derivatives losses onto the American people, this proposed bill is another example of Congress screwing ordinary Americans to pay for Wall Street's crimes!

Dec 10 12:07

Dow off 200-plus as oil price slips further

The U.S. stock market was headed for its first three-day losing streak since October Wednesday as a gloomy prediction for global oil demand sent crude prices plunging again.

Dec 10 11:55

Obama's FDIC, DOJ conspire to bankrupt gunmakers: Govt. report

While overshadowed by the release of the Senate's CIA torture report, the announcement of Attorney General Eric Holder's racial profiling ban, and the highly anticipated testimony of the "Obamacare architect," Dr. Jonathan Gruber, before a congressional panel, the House Oversight Committee chairman, Californian Republican Rep. Darrell Issa, released another report that got lost in the shuffle on Monday. A part of the report reveals how President Barack Obama and his minions conspired against companies they disliked such as firearms and ammunition manufacturers with the goal of denying them access to bank loans and capital.

Webmaster's Commentary: 

When the people allow the government and bankers to acquire all of the money, inevitably great evil against the people follows.

Dec 10 11:51

2.5 Million Children Are Homeless in US, New Data Reveals

A historic number of America's youth – 2.5 million children – are homeless according to a report recently released by the National Center on Family Homelessness. These children, the report shows, are victims of a number of variables that contribute to homelessness including single motherhood, racial disparities and low household incomes.

Webmaster's Commentary: 

"We do Not have homeless American children. We are the greatest nation on Earth! We are exceptional. We are AWESOME (FOX News says so)! And anyone who says otherwise will be tortured!" -- Official White Horse Souse

Dec 10 11:38

7 Questions Gold Bears Haven't Answered

A glance at any gold price chart reveals the severity of the bear mauling it has endured over the last three years.

More alarming, even for die-hard gold investors, is that some of the fundamental drivers that would normally push gold higher, like a weak US dollar, have reversed.

Throw in a correction-defying Wall Street stock market and the never-ending rain of disdain for gold from the mainstream, and it may seem that there’s no reason to buy gold; the bear is here to stay.

If so, then I have a question. Actually, a whole bunch of questions.

If we’re in a bear market, then…

Dec 10 11:30

US Senate approves sanctions bill on Venezuelan officials

The US Senate has approved a bill that would freeze the assets of Venezuelan officials accused of human rights violations, barring them from entry to the United States.

Webmaster's Commentary: 


Of course, this has nothing to do with human rights violations and everything to do with Venezuela selling their oil for the Yuan!

Dec 10 11:29

The American Dream deferred for young Americans: Living in rentals, inflated college tuition, and low wages await millions of young Americans.

The Americans Dream was largely built on a few simple ideals. One was the ability to purchase your own home without needing artificially low rates and dangerously low down payments. Another key aspect of the dream was allowing young Americans to receive a college education to pursue their future. While more Americans are going to college, many are taking on dangerously high levels of debt to embark on this journey. Another key component of the American Dream was having the ability to have a job that paid well enough to have a good standard of living. That standard of living is eroding as inflation is eating away purchasing power. It is hard to come to terms but the upcoming generation may not have it as good as that of the baby boomers. There is no fast and hard rule saying that each generation should be better. That is why the middle class rising in the US was a historical anomaly. Something worth aspiring and investing in.

Dec 10 11:11

Will Lawmakers Sneak a Gift to Wall Street into the Spending Bill?

Under cover of legislative chaos, lawmakers from both parties are working this week to preserve taxpayer-backing for some of Wall Street’s riskiest activities.

The deal taking shape would be slipped into the catch-all federal spending bill that is meant to finance the government in 2015, according to Capitol Hill sources who are not authorized to speak publicly. It would effectively repeal a plank of the Dodd-Frank financial reform law that would force big banks to conduct their most speculative derivatives trades in separately-capitalized subsidiaries, where they would be ineligible for federal deposit insurance, Federal Reserve assistance or other taxpayer-provided support.

The point of the law is to end the “heads I win, tails you lose,” game on Wall Street, in which the biggest banks keep the lavish winnings from their bets while pushing catastrophic losses onto the public, as happened in the financial crisis.

Dec 10 10:44

Ellen Brown - 5 Big Banks will Survive Next Financial Calamity - Everybody Else Bankrupt

When a financial crash does happen, you can forget about getting immediate access to your money. Ellen Brown of The Web of Debt Blog says, “The banks will say, well, we don’t have it. All the money goes into one big pool since Glass Steagall was repealed. They are allowed to gamble with that money and that’s what they do. I think maybe Bank of America is the most vulnerable because of Merrill Lynch. Everybody is concerned, and they do very risky deals and they are on the edge. I think they have over $50 trillion in derivatives and over $1 trillion in deposits. . . The Dodd-Frank Act says we, the people, are no longer going to be responsible for the big banks when they collapse. It is not clear the FDIC will even be able to borrow from the Treasury, but even if they could, who is going to pay that money back? Let’s say they borrowed $1 trillion. Who is going to pay that $1 trillion dollars back? It will bankrupt all the small banks that had to contribute to this premium.

Dec 10 10:36

Billionaire Frank Giustra’s Massive Bet On Gold & Silver

On the heels of a $25 surge in the price of gold and a nearly 5 percent rally in the price of silver, today King World News takes a look at what would lead one of the world’s richest men, billionaire Frank Giustra, to make a massive bet on significantly higher gold and silver prices in the future.

Dec 10 10:17

Bank of America: OPEC is Finished

Dec 10 10:15

2015 Housing Real Estate Market Forecast

Dec 10 10:14

CENTRAL BANKS HAVE FAILED BECAUSE THEY CAN'T PUSH WAGES HIGHER

You can print all the money you want, but it will never boost wages to keep up with prices. Central banks have been pursuing two goals for the past six years: ignite inflation and an expansion of debt that will supposedly generate "growth." Despite squandering trillions of dollars, yen, yuan and euros, central banks have failed to ignite sustainable inflation or growth.

Dec 10 09:43

?Do they know it’s Christmas? Thousands of UK families face winter of poverty

Thousands of British families will be dependent on handouts and charity this Christmas as rates of poverty in the UK continue to soar.

At a time when real wages remain stagnant for most of the UK’s lowest paid, it is estimated more than 2,000 working families will find themselves in need of assistance from voluntary organizations for food and other necessities.

According to a feature report published in the Guardian on Wednesday, around 4,500 children will also require assistance as a result of severe poverty.

Dec 10 09:38

Russian Prostitutes Hike Rates Over Slumping Ruble

The crime of buying sexual services is becoming more expensive in Russia as prostitutes increase their rates to offset the free-falling ruble, regional media reported.

Webmaster's Commentary: 

Redefining the term, "Pussy Riot!" :)

Dec 10 09:29

Welcome to the Recovery – McKinsey Survey Shows 40% of Americans Living Paycheck to Paycheck, Up From 31% in 2012

Nothing screams economic recovery like 2 out of every 5 Americans living paycheck to paycheck. Especially when that number has reportedly increased by 33% since 2012.

Perhaps someone should inform these destitute plebs that the stock market is up nearly 45% over the past two years, and after all, nothing says economic success like the 0.01% enriching themselves via fraud and financial engineering.

Here are two of the most sobering findings from the survery:

40 percent of the consumers we surveyed said they are coping with the challenge of living paycheck to paycheck, up from 31 percent in 2012.

Today just 23 percent say they are optimistic about the economy, down from 27 percent at the beginning of the recession in 2009.

Webmaster's Commentary: 

IF you have been feeling the effect of stagnant wages and inflation just tearing your budget apart, you are not alone.

Dec 10 09:25

Here We Go Again – the Effective Repeal of Dodd-Frank As Xmas Gift to Bankers?

The high-flying banks are at it again. There has been lobbying going on to sneak a clause in the continuing resolution to fund the government over the holidays for the December 11th deadline. The provision they are trying to sneak in would allow the banks to trade derivatives through subsidiaries that are federally insured by the FDIC. In other words, they are circumventing the very reforms of the 2007-2009 crash.

Webmaster's Commentary: 

This is a Call to Keyboards for Rivero's Rangers out there: please call your Congress Critters, and let them know that if this language is included as a rider into any bill, the only office they should worry about running for next time.... is that of dog catcher!!!

Don't threaten or use foul language; be impossible-to-ignore polite in your communications. But let them know that should they do this, their career as an ALLEGED "public representative" is over, kaput, nada, ...gone.

Given that Congress is going to ignore you, to appease the money junkies, your next 20 phone calls should go to friends and neighbors, to let them know that Congress is going to make THEM pay for Wall Street's crimes.

Dec 10 09:15

U.S. PROTESTERS DEMAND: END SECRECY, RELEASE THE TEXTS ON TRANS-PACIFIC PARTNERSHIP

Cassidy Regan, trade organizer for Popular Resistance, remarked that after public pressure the European Union recently agreed to release its negotiating proposals for the Trans-Atlantic Trade and Investment Partnership to the public. The EU wanted to release the full text of the agreement but was blocked by the United States.

“The trade agreements being drafted in secret threaten everything from worker rights and wages to public health and access to medicines. The negotiators keep texts hidden because these agreements aren’t made with the public in mind — instead, they serve to give transnational corporations further power to exploit people and the planet for the sake of profit. The unprecedented lack of transparency denies communities’ right to know policies that could impact so many aspects of our lives, for generations to come.”

Webmaster's Commentary: 

That the TPP is negotiated behind the backs of the American people, and with no transparency whatsoever, demonstrates, painfully clearly, that the US government is being run BY the Corporations; OF the Corporations; and FOR the Corporations.

We the People have become irrelevant and expendable to this government, and it is high time that this stops!

Dec 10 08:42

2021: Gold at 10,000.00, Silver at 700.00, an Empirical Model

Deviant Investor's Gary Christenson empirical model projects a Gold price of $10,000 by the year 2021 and a Silver price any where from $500 - $1,000. Gary notes that these numbers are based on simple mathematical projections using current levels of government spending which will undoubtedly continue unabated. Gary's conservative empirical model does NOT even factor in the possibility of US debt default, Weimar-style hyperinflation of the Dollar or other dramatic economic catastrophes.

Dec 10 08:38

Too Poor To Eat: Man Reduced To Tears As He Describes Being Unable To Afford Food

Speaking to LBC radio Mike says: “I live in a tiny room, and what you get covers just what you need, and you have to go to food banks, and sometimes I’m living off a tin of spaghetti a day, or a tin of beans, and there are people out there who really are struggling, and it’s not fun.

“For these people to sit there to say oh go and get a job – I’m out there every day, looking and searching, and you know you’re trying to do it on your own, but you can’t, and it gets harder and harder.

“You’re just trying to get by. Some days I can’t eat. I don’t eat.”

Dec 10 08:38

36 DEAD BANKER COVERING THE TRUTH

Dec 10 08:37

FDR’s 1933 Gold Confiscation was a Bailout of the Federal Reserve Bank

President Franklin Delano Roosevelt’s 1933 executive order outlawing the private ownership of gold in the United States was arguably unconstitutional. But why did he do it ? Many historians and economists point to efforts to get the economy moving again as the reason, the theory being that people were hoarding gold and the velocity of money in circulation needed to be sped up.

But the real reason for the gold confiscation was a bailout of the privately-controlled Federal Reserve Bank. And the evidence has been printed right in front of our faces.

Dec 10 08:37

GMO Labeling, US Dollar Collapse, Bitcoin, & Nuclear War w/Michael Rivero

Dec 10 08:37

Silver to hit $100 World Bank Whistleblower Karen Hudes

World Bank Whistleblower Karen Hudes on bank manipulation, silver boon to 100.00, dollar crash.

Dec 10 08:37

Somebody is manipulating the numbers: ‘In the realm of economics a change of this magnitude is a collapse’

According to the U.S. government the American economy grew at an astounding 3.8% last quarter, signaling to many that the recession responsible for wiping out trillions in wealth and millions of jobs over the last six years is finally over.

But is it?

Dec 10 07:53

Ellen Brown-5 Big Banks will Survive Next Financial Calamity-Everybody Else Bankrupt

When a financial crash does happen, you can forget about getting immediate access to your money. Ellen Brown of The Web of Debt Blog says, “The banks will say, well, we don’t have it.

Dec 10 07:37

TRADE AGREEMENT BRINGS FRANKENFOODS TO EUROPE; BIOTECH LOBBY BACKS PROPOSAL TO ALLOW STATES TO BLOCK GMO CROPS WITH SPECIAL PERMITS

Under the Transatlantic Trade and Investment Partnership (TTIP), genetically modified foods could flood Europe where harsh opposition to America’s “dirty” food is prevalent. As the Washington Post reports, the TTIP is a globalization “milestone” that will bring in an additional 800 million consumers to multinational corporations. Jean Cabaret, an organic farmer in France, told the Post that “In France, food is about pleasure, about taste. But in the United States, they put anything in their mouths. No, this must be stopped.”

Dec 10 07:14

Fannie and Freddie Guarantee Bigger Losses

Dec 10 06:23

Watchdog: IRS paid $6 billion in bogus child tax credits

The IRS paid more than $6 billion in child tax credits in 2013 to people who were not eligible to receive them, a government watchdog said Tuesday.

Payments went to families that mistakenly claimed the tax credit or claimed the wrong amount, as well as taxpayers who committed fraud, according to an audit by J. Russell George, the Treasury inspector general for tax administration.

Dec 10 06:05

Comcast sued by customers for turning routers into public hotspots

A pair of Comcast customers has sued the company for turning Xfinity Internet routers into public Wi-Fi hotspots, saying Comcast’s actions pose risks to subscribers and are taken without seeking their authorization.

Plaintiff Toyer Grear and daughter Joycelyn Harris of Alameda County, California, filed the suit on December 4 (PDF) in US District Court in Northern California, seeking class action status on behalf of all Comcast customers who lease wireless routers that broadcast Xfinity Wi-Fi hotspots. “Without authorization to do so, Comcast uses the wireless routers it supplies to its customers to generate additional, public Wi-Fi networks for its own benefit,” the complaint states.

Dec 09 21:39

Stefan Molyneux & Gerald Celente - America in Decline

1% shenanigans, legality vs morality, occupy peace

Dec 09 19:34

President Obama charges taxpayers $1.7 MILLION for one-night hotel stay at G20 summit in Australia

President Obama's one-night stay in Brisbane for the G20 summit cost taxpayers $1.7 million, a report has revealed.

The cost is said to have covered 4,096 rooms at three separate hotels for his entourage of security guards and assistants on November 15.

According to the Justification document published by the White House, it was 'fair and reasonable based on the pricing available across the city of Brisbane at the time of the visit'.

Dec 09 19:32

If At First You Fail Miserably & Blow Up The Financial System, Do It Again!

Here we go again! Mortgage giants Fannie Mae and Freddie Mac have now officially approved 3% down payment mortgages. Having government entities provide low down payment mortgages to people who can’t afford to buy a house is always a good move. Keynesians like Krugman approve wholeheartedly. The housing market will get a nice boost and the working taxpayers will fund the bad debt through Fannie and Freddie. You own Fannie and Freddie. Everyone wins. In case you forgot, the closing costs to sell a house are usually 8% of the home price. So these home buyers are immediately 5% underwater when they move in... "Sometimes I can’t believe I live in a world this f##ked up. And no one notices and no one cares."

Dec 09 19:30

"Isolated" Russia Begins Testing De-Dollarization-Driven Payment System

Having announced its intention to create an alternative to the SWIFT payment system (following calls from Western politicians for SWIFT to cut off Russia - which the 'independent' firm rapidly denied), Russia recently said it would be ready in May. However, it seems the rapid drop in the Ruble (and the Yuan in recent days) has escalated the need for this de-dollarized payment system and, as RT reports, Russia’s Rossiya and SMP banks, which fell under Western sanctions, are among the eight lenders that will start testing the country’s new national payment system on December 15.

Dec 09 18:45

Not Just Oil: Guess What Happened The Last Time Commodity Prices Crashed Like This?…

It isn’t just the price of oil that is collapsing. The last time commodity prices were this low was during the immediate aftermath of the last financial crisis.

Dec 09 17:02

The Wages of Global Capitalism

Wage growth in the world slowed to an average of 2 percent in 2013. That was less than in 2012 and far less than the pre-crisis rate of 3 percent. Starker still were the differences between wage growth in the “developed world” (chiefly Western Europe, North America and Japan) and wage growth in the major “emerging growth” countries, chiefly China.

Dec 09 16:09

U.S. fertility rate fell to a record low last year. What that means for the American economy:

WEBMASTER ADDITION: Has the EPICYTE gene (that sterilizes humans who eat the corn that contains it) broken into the wild?

Dec 09 15:15

The Truth About The Consumption Gap

Dec 09 14:54

Italians flock abroad in record numbers

Emigration has hit a ten-year high as Italians abandon their home country for better prospects abroad, with the UK the top destination.

Dec 09 14:49

Why Low Gas Prices Are Bad For The World

Dec 09 14:48

Luxembourg tax deals for Disney, Koch brothers empires revealed

A new leak of confidential documents expands the list of big companies seeking secret tax deals in Luxembourg, exposing tax-saving maneuvers by American entertainment icon The Walt Disney Co., politically controversial Koch Industries Inc. and 33 other companies.

Disney and Koch Industries, a U.S.-based energy and chemical conglomerate, both created tangles of interlocking corporations in Luxembourg that may have helped them slash the taxes they pay in the U.S. and Europe, according to the documents obtained by the International Consortium of Investigative Journalists.

Dec 09 14:42

Fed up with austerity, Irish mobilize against water charges

Ireland, whose private banks gambled (and lost) more per capita than any other European country, was disproportionately affected by the economic crisis. The tiny country is paying almost 42 percent of the total European banking debt, despite making up only 1 percent of its population, according to Eurostat.

Dec 09 14:23

Massive Federal Land Grab Hidden In This Year's NDAA

Eric Blair
Activist Post

The National Defense Authorization Act (NDAA) seems to be the catalyst each year for passing tyrannical laws that couldn't stand on their own without its cover of "defense."

Previous NDAAs gave us an open declaration of war on US citizens, indefinite detention without due process, and funding for the domestic spy grid and police militarization.

Buried deep in this year's 1600-page NDAA (likely that not one lawmaker even read) is a massive federal land grab for special interests...

Dec 09 14:03

Court and U.S. Chapter 7 Trustee Gary F. Seitz Caught Trying to Steal Property Instead of Allowing Chapter 13.


Wait for the taped phone call in a moment, but note first that former Eckert, Seamans Attorney Margaret England (more info) now works for the same law firm as Gary F. Seitz. England is a racist who called La Mar Gunn a nigger, as noted in a recent Federal Trial that Mr. Gunn won, pro se. So now we have discrimination against a Philipino family, nice.

In this case, the pro se Blanco family tried to file a Chapter 13 but checked the wrong box. Should be a simple matter to convert, right? I mean you know, seeing as they are trying to pay, rather than to extinguish a debt, right?

Dec 09 12:24

More D.C. Lies on Debts and Spending

Interest payments and entitlement payments will soon skyrocket. The next recession will bring about more stimulus packages. Politicians will buy votes by adding new spending programs to the budget and will be reluctant to pay for their spending with additional tax revenues. We will again see record budget deficits.

Dec 09 12:13

This Time Is The Same: Like The Housing Bubble, The Fed Is Ignoring The Shale Bubble In Plain Sight

We are now far advanced into the third central bank generated bubble of the last two decades, but our monetary politburo has taken no notice whatsoever of its self-evident leading wave. Namely, the massive malinvestments and debt mania in the shale patch.

Dec 09 12:03

What a Reserve Currency Should Look Like

If the Fed wants the dollar to remain the world’s reserve currency of choice, it must raise interest rates rather than create more money and the government must slash its spending to avoid imposing higher taxes. If it chooses neither of these, or in such small increments as to make little difference, then I fear the dollar is doomed as the world’s primary reserve currency.

Dec 09 11:20

Russia, Turkey pivot across Eurasia

This is what the New Great Game in Eurasia is all about.

The latest, spectacular “Exit South Stream, Enter Turk Stream” Pipelinistan gambit will be sending big geopolitical shockwaves all across Eurasia for quite some time. This is what the New Great Game in Eurasia is all about.

In a nutshell, a few years ago Russia devised North Stream – fully operational – and South Stream – still a project – to bypass unreliable Ukraine as a gas transit nation. Now Russia devises a new sweet deal with Turkey to bypass the “non-constructive” (Putin’s words) approach of the European Commission (EC) concerning the European “Third Energy Package”, which prohibits one company from controlling the full cycle of extraction, transportation and sale of energy resources.

Dec 09 10:40

Venezuelan Bonds Crash To Lowest Price Since 1998

Bond prices in Venezuela have totally collapsed this morning - at 45c on the dollar, they are the lowest since 1998 - as the realization of the "abyss" they are staring into sparks an exodus from all credit positions in the country. VENZ 5Y CDS rallied 130bps which signals hedgers unwinding and the simultaneous sale of the underlying bonds implies broad-based capital flight (and profit taking) as 1Y CDS surges to record highs at 4830bps.

Webmaster's Commentary: 

Coming hard on the heels of the Greek problems and the US market being down, could this trigger a global sell-off?

Dec 09 10:12

Growing gap between rich and poor in Britain over two decades means the economy is 9% smaller that it could be

In the last two decades rising inequality knocked almost 9 percentage points off growth in the UK, the Organisation for Economic Co-operation and Development (OECD) said.

The global think tank said taxes on the rich did not damage the economy, and could be used to help families with children to improve their lives.

Countries where income inequality is falling grow faster than those with rising inequality, the body's latest report states.

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