ECONOMY | WHAT REALLY HAPPENED


ECONOMY

Jan 19 19:06

Germany repatriated 120 tonnes of gold in 2014

The Germans see the writing on the wall...

Stay tuned as the ECB is expected to announce massive QE (quantitative easing) on Thursday.

Jan 19 18:28

Swiss Shocker Triggers Gigantic Losses For Banks, Hedge Funds And Currency Traders

The absolutely stunning decision by the Swiss National Bank to decouple from the euro has triggered billions of dollars worth of losses all over the globe. Citigroup and Deutsche Bank both say that their losses were somewhere in the neighborhood of 150 million dollars, a major hedge fund that had 830 million dollars in assets at the end of December has been forced to shut down, and several major global currency trading firms have announced that they are now insolvent.

Jan 19 18:08

Global unemployment to rise to 212 million, says ILO

The global jobs market will continue to deteriorate in the coming years,, while rising income inequality and high youth unemployment will stoke more social unrest, a new report warns today.

The International Labour Organization (ILO) says a slowdown in economic growth means more jobs will be lost this year with young people again bearing the brunt of the financial crisis and its aftermath.

Releasing its latest forecasts, the ILO said the challenge of bringing unemployment back to pre-crisis levels “now appears as daunting a task as ever”.

Jan 19 18:03

Tempers Fray As Argentine Tampon Squeeze Extends To 20 Days

While Venzuelans line up for hours every day to garner staples such as soap and toilet paper, the Argentinians have a potentially more explosive problem. As Reuters reports, the country's 20.6 million women couldn't find their favorite tampons earlier this month - during the height of summer - "for 20 days, we simply couldn't source any tampons from wholesalers." The government vowed to keep the supply chain filled with tampons as media talk of a "run on tampons" stoked peoples' fears that Argentina is rapildy heading down the same socialist utopia track as its neighbor.

Jan 19 18:00

Germany's Bundesbank Resumes Gold Repatriation; Transfers 120 Tonnes Of Physical Gold From Paris And NY Fed

A month ago we asked the following question: who in addition to the Netherlands has been quietly withdrawing their gold from the NY Fed. Was it Belgium? Or did the Dutch simply decide to haul back some more. Or did Germany finally get over its "logistical complications" which prevented it from transporting more than just a laughable 5 tons in 2013? And most importantly, did Germany finally grow a pair and decide not to let "diplomatic difficulties" stand between it and its gold? We now know the answer, and it was, indeed, the latter with confirmation coming from the Bundesbank itself. As the German Central Bank announced earlier today, after withdrawing an embarrassing 5 tonnes of gold from New York in 2013, its rate of repatriation soared, and in what appears to have been just the past two months, has transferred a whopping 85 tonnes of gold from 80 feet below street level at Liberty 33 back to Frankfurt!

Jan 19 17:59

Obamacare penalty may be larger than expected

Those Americans who didn’t get health insurance last year could be in for a rude awakening when the IRS asks them to fork over their Obamacare penalty — and it could be a lot more than the $95 many of them may be expecting.

Jan 19 17:38

Denmark acts over fallout from Swiss currency turmoil

Denmark cut its deposit rate to minus 0.2% from minus 0.05%. The lending rate was cut from 0.2% to 0.05%.

It makes the krone less attractive to investors, and eases pressure on the central bank to keep buying euros.

Denmark pegs its currency to the euro to help the country's exporters and maintain stable inflation.

But the country's central bank has been forced to intervene to defend the peg as the krone appreciated.

Jan 19 17:36

How Propaganda Conquers Democracy

snip: Self-serving politicians and parties compete for funding in election campaigns run by the advertising industry, to give political investors the most corrupt President, administration and Congress that money can buy, while courts uphold new corporate and plutocratic political rights to ward off challenges to the closed circle of wealth and political power.

Oligarchic corporate control of the media is a critical element in this dystopian system. Under the genius of inverted totalitarianism, a confluence of corrupt interests has built a more effective and durable propaganda system than direct government control has ever achieved.

Jan 19 17:07

Can You Just Surrender In A Currency War?

Jan 19 17:00

SOTU address: Obama to bash the wealthy as Iranians and Russians sign deal

As President Barack Obama prepares to give his highly-anticipated State of the Union address in which he's expected to target the people he believes are America's real enemy -- the American people who possess wealth -- the nations of Iran and Russia plan to sign what is a significant memorandum of understanding (MOU) on increasing the two nations' military cooperation.

Jan 19 16:52

The 18% Recession Threshold

Jan 19 16:36

Report: Richest 1% to Own More Than Rest by 2016

Wealth accumulated by the richest 1 percent will exceed that of the other 99 percent in 2016, the Oxfam charity said Monday, ahead of the annual meeting of the world’s most powerful at Davos, Switzerland.

Jan 19 16:16

If the Fed Has Nothing to Hide, It Has Nothing to Fear

Since the creation of the Federal Reserve in 1913, the dollar has lost over 97 percent of its purchasing power, the US economy has been subjected to a series of painful Federal Reserve-created recessions and depressions, and government has grown to dangerous levels thanks to the Fed’s policy of monetizing the debt. Yet the Federal Reserve still operates under a congressionally-created shroud of secrecy.

Jan 19 15:28

Christine Lagarde Calls For World To Embrace "New Multilateralism" Order In 2015

As 2015 begins, policymakers around the world are faced with three fundamental choices: to strive for economic growth or accept stagnation; to work to improve stability or risk succumbing to fragility; and to cooperate or go it alone. The stakes could not be higher; 2015 promises to be a make-or-break year for the global community. For starters, growth and jobs are needed to support prosperity and social cohesion in the wake of the Great Recession that began in 2008. Six years after the eruption of the financial crisis, the recovery remains weak and uneven. Global growth is projected at just 3.3% in 2014 and 3.8% in 2015. Some important economies are still fighting deflation. More than 200 million people are unemployed. The global economy risks getting stuck in a “new mediocre” – a prolonged period of slow growth and feeble job creation.

Jan 19 13:23

'Francogeddon' sends German cities' debts soaring

Following the shock move last week to unpeg the Swiss Franc (CHF) from the Euro, estimates suggest that debt in German municipalities has gone up by €2 billion, it was reported on Monday.

Jan 19 13:19

"Next Time Around The Feds Are Going To Have To Confiscate Stuff"

In short, enjoy the $2.50-a-gallon fill-ups while you can, grasshoppers, because when the current crop of fast-depleting shale oil wells dries up, that will be all she wrote. When all those bonds held up on their skyhook derivative hedges go south, there will be no more financing available for the entire shale oil project. No more high-yield bonds will be issued because the previous issues defaulted. Very few new wells (if any) will be drilled. American oil production will not return to its secondary highs (after the 1970 all-time high) of 2014-15. The wish of American energy independence will be steaming over the horizon on the garbage barge of broken promises. And all, that, of course, is only one part of the story, because there is the social and political fallout to follow.

Jan 19 13:14

Chinese Stocks Crash Most Since Feb 2007, Futures Limit-Down After Regulatory Crackdown On Margin-Trading

*SHANGHAI COMPOSITE HEADS FOR BIGGEST LOSS SINCE FEBRUARY 2007
*CHINA CSI 300 INDEX FUTURES FALL BY 10% LIMIT

Jan 19 12:53

A Critical Shift: How the Swiss Just Screwed the ECB

We have just witnessed a very significant event; one that suggests our world is about to rapidly change. This change will bring a lot of grief and a lot of destruction.
But it may be the necessary evil first step to bring order back to the world’s financial system. If we are lucky.

Jan 19 11:56

Richest 1% Percent To Have More Than Rest of Humanity Combined

In less than two years, if current trends continued unchecked, the richest 1% percent of people on the planet will own at least half of the world's wealth.

Jan 19 11:40

Former White House Official – Europe In Danger Of Mega-Bank Runs That Jeopardize The World

former White House official and Plunge Protection Team member warned King World News that Europe is now in danger of mega-bank runs that will destabilize the entire global financial system.

Jan 19 11:14

Jim Grant on Money vs. Air.

Jan 19 11:01

Would forgiving Greece’s debt really be that bad?

"A debt is a debt and it is a contract," IMF Managing Director Christine Lagarde told The Irish Times in an interview on Monday when asked about the general idea of holding a debt conference. "Defaulting, restructuring, changing the terms has consequences on the signature and the confidence in the signature," she said.

Webmaster's Commentary: 

The instant Greece's debt is forgiven, every other EU member will demand the same. That is the reason for Christine Legarde's hard line.

Jan 19 09:58

"De-Dollarization" Deepens: Russia Buys Most Gold In Six Months, Continues Selling US Treasuries

The rumors of Russia selling its gold reserves, it is now clear, were greatly exaggerated as not only did Putin not sell, Russian gold reserves rose by their largest amount in six months in December to just over $46 billion (near the highest since April 2013). It appears all the "Russia is selling" chatter did was lower prices enabling them to gather non-fiat physical assets at a lower cost. On the other hand, there is another trend that continues for the Russians - that of reducing their exposure to US Treasury debt. For the 20th month in a row, Russia's holdings of US Treasury debt fell year-over-year - selling into the strength.

Webmaster's Commentary: 

Worth a repeat

Jan 19 09:53

Switzerland May Be Preparing for the End of the Euro

If you haven’t been paying attention in the last 24 hours, the currency and equity markets have been rocked by a surprise move to delink the existing currency peg between the Euro and the Swiss Franc. This move has set off what many are calling a “financial tsunami” that could leave behind a path of destruction across the continent.

Webmaster's Commentary: 

This is a "Bash the Swiss" article, but the reality is that with the ECB about to launch QE across Europe, the Swiss saw the losses from the resulting inflation as too great to accept.

Jan 19 09:04

The Drug War, Asset Forfeiture, and the Cycle that Funds the Police State

“You follow drugs, you get drug addicts and drug dealers. But you start to follow the money, and you don’t know where the f*** it’s gonna take you.”

Jan 19 08:48

27 Facts That Show How The Middle Class Has Fared Under 6 Years Of Barack Obama

During his State of the Union speech on Tuesday evening, Barack Obama is going to promise to make life better for middle class families.

Jan 19 08:47

Boston City employee fired after being charged in relation to I-93 protest

“Mayor Walsh strongly respects the right to protest and the right to free speech, however

Jan 19 08:23

Rents and housing prices unaffordable to middle class in Los Angeles: The typical LA renter needs to earn $33 an hour just to afford a basic apartment.

Last year there was a report highlighting that LA and Orange County ranked number one in being the bubbliest housing markets in the US. The report essentially found that people in the area lagged in income relative to housing values compared to folks in New York or San Francisco and most in SoCal basically funneled a large portion of their net income into housing. LA and OC are also expensive to rent in.

Jan 19 08:14

Richest 1% to have more than rest of humanity combined

New Oxfam report shows the scale of global inequality is 'simply staggering'

Jan 19 08:05

Netanyahu says Europe's 'Islamization' pushing Israel to expand Asia trade

Israeli Prime Minister Benjamin Netanyahu said on Sunday that a wave of anti-Semitism and what he called “Islamization” in Western Europe are factors in the government’s push to expand trade with Asia.

Jan 19 08:03

Middle class decline looms over final years of Obama presidency

Barack Obama enters the final two years of his presidency with a blemish on his legacy that looks impossible to erase: the decline of the middle class he has promised to rescue.

Jan 19 07:59

ECB Stimulation: The Trap Closes

European Economy ... No More Excuses for Draghi ... For months, European Central Bank President Mario Draghi has hinted that he's ready to announce a full-blown program of quantitative easing. [Now] the EU Court of Justice's advocate general cleared away a possible legal obstacle.

Webmaster's Commentary: 

... which triggered the Swiss unpegging.

Beyond that, there is a simple process at work here. In a world using a debt-based currency issued by private central banks, the process of QE is how those bankers, using just ink and paper and numbers in a computer, come to own all the hard assets of planet earth.

Jan 19 07:37

Liars’ Remorse -- Democrats have second thoughts about Obamacare

Half of the 60 Democratic senators who voted for the Affordable Care Act in December 2009—the exact number needed to prevent its being filibustered to death, since all Republicans opposed it—are no longer in the Senate.

Jan 19 07:35

BODY OF MISSING AIG EXECUTIVE FOUND IN GOLF COURSE POND

A body found floating in a pond on a golf course in California has been identified as the AIG executive who disappeared two weeks ago while attending a work conference in the area. The Riverside County Coroner’s Office confirmed that it was the body of Omar Meza on Friday, according to KESQ. The cause of death is under investigation and it is not clear how long Meza was in the pond.

Jan 19 07:29

Who Benefits When Bubbles Burst?

Jan 18 22:40

US Supreme Court Retroactive Tyranny Justification

So not just an echo chamber where they admit corporations have the most money to afford multi-year cases but also a way to justify whatever the government does anyway

Jan 18 22:15

"De-Dollarization" Deepens: Russia Buys Most Gold In Six Months, Continues Selling US Treasuries

The rumors of Russia selling its gold reserves, it is now clear, were greatly exaggerated as not only did Putin not sell, Russian gold reserves rose by their largest amount in six months in December to just over $46 billion (near the highest since April 2013). It appears all the "Russia is selling" chatter did was lower prices enabling them to gather non-fiat physical assets at a lower cost. On the other hand, there is another trend that continues for the Russians - that of reducing their exposure to US Treasury debt. For the 20th month in a row, Russia's holdings of US Treasury debt fell year-over-year - selling into the strength.

Jan 18 22:14

Hedge Fund Manager Who Survived Five Debt Crises Wiped Out Overnight on Swiss Franc

Marko Dimitrijevic, the hedge fund manager who survived at least five emerging market debt crises, is closing his largest hedge fund after losing virtually all its money this week when the Swiss National Bank unexpectedly let the franc trade freely against the euro, according to a person familiar with the firm.

Jan 18 22:12

Will China be the next forex peg to break?

The surprise move by Switzerland to scrap its currency ceiling against the euro EURCHF, +0.76% last week is a reminder there can be unexpected collateral damage from central banks waging currency wars. As markets digest last week’s turmoil, expect focus to turn to other fault lines on the global currency map.

Here China stands out, as like the Swiss, it runs an implicit currency peg that is becoming increasingly painful to maintain.

Jan 18 19:45

What We Can Learn From The Richest Man In Asia

In 2013 when he started dumping his Chinese property holdings he was being ridiculed and criticized. Everyone was bullish on China’s real estate market... and we know what happened next. It turns out you don’t want to bet against a man with a track record like Li Ka-shing's - the richest man in Asia. So when Li gets a second passport and creates a Plan B by restructuring his investment companies, moving his money and his assets far away to safe, stable locations so that no single government has control over him, it is perhaps time to pay attention.

Jan 18 19:13

One per cent holds half the world's wealth

The combined wealth of the world's richest 1 per cent will overtake that of the remaining 99 per cent by 2016 unless action is taken to curb "shocking extremes" of inequality, a new report warns.

The richest 1 per cent currently own 48 per cent of all global wealth, Oxfam says. Next year that figure is forecast to exceed 50 per cent for the first time.

Using data from Credit Suisse's latest global wealth report, the charity warns that rising inequality is holding back the fight against global poverty at a time when more than a billion people still live on less than US$1.25 a day.

The report warns that global wealth "is becoming increasing concentrated among a small, wealthy elite".

Jan 18 17:49

Housing bubble 2.0 just met Pin 2.0

Jan 18 15:01

Helicopters Don’t Pay for Themselves

Why Eric Holder’s civil forfeiture decision won’t stop civil forfeiture abuse.

Jan 18 14:48

RadioShack prepares to file for bankruptcy

Troubled electronics retailer is considering selling its assets out of bankruptcy to a private equity firm.

Jan 18 14:38

RT - "Debt Meteor Approaching Earth"

Jan 18 14:03

How The Oligarchs Spend Your Money

Jan 18 13:09

BAML: Dr. Copper Is Shouting 'Sell'

Jan 18 12:45

Obama's Phony MIddle Class Tax Relief Plan by Stephen Lendman

snip: Poverty is a growth industry. A race to the bottom reflects official bipartisan policy. Human suffering is real.

America's middle class is targeted for elimination. Heading for history's dustbin. The nation increasingly becoming a ruler/serf society.

Obama is a serial liar. Breaking every major promise made. Expect his latest to be no exception.

His annual state of the union addresses reflect beginning-to-end doublespeak duplicity. Empty rhetoric concealing business as usual.

Jan 18 12:24

Middle class decline looms over final years of Obama presidency

Barack Obama enters the final two years of his presidency with a blemish on his legacy that looks impossible to erase: the decline of the middle class he has promised to rescue.

Jan 18 11:43

Dead Bankers: Missing Hawke's Bay man's body found in UK

Tributes are flooding in for a Hawke's Bay man who was found dead on a mountain in northern England this week, after he had been missing for four days. United Kingdom police yesterday confirmed a body found on Helvellyn, a mountain in the English lake District, was that of 45-year-old Michael Flanagan, originally from Napier.

Jan 18 10:40

Postal Service proposes small price increase

Jan 18 10:00

Life after an Economic Collapse: The same… only Worse Part I

link to part II http://ferfal.blogspot.com/2015/01/life-after-economic-collapse-same-o...

Read these and see how many parallels have already occurred

Jan 18 09:37

Neocons: The ‘Anti-Realists’

This neocon madness – this “anti-realism” – has been playing out in the real world on a grand scale, destroying real lives and endangering the real future of the planet.

The primary distinction between the neocons and the liberal interventionists has been the centrality of Israel in the neocons’ thinking while their liberal sidekicks put “humanitarianism” at the core of their world view. But these differences are insignificant, in practice, since the liberal hawks are politically savvy enough not to hold Israel accountable for its human rights crimes and clever enough to join with the neocons in easy-to-sell “regime change” strategies toward targeted countries with weak lobbies in Washington.

Jan 18 09:32

Berlin in constant fear ECB will be lender of last resort

The European Central Bank faces another moment of truth as its governors debate whether to buy up the sovereign bonds of euro zone countries to avert a deflationary spiral. At issue still is the attitude of the German faction in the bank, which is resolutely opposed to such moves. But what explains this stance?

The stock response is that German hypersensitivity over the use of central bank printing presses can be traced right back to the country’s painful encounter with hyperinflation in the 1920s, when the Weimar Republic printed more and more banknotes to finance expenditure.

Jan 18 08:52

Everest Macro Hedge Fund Blows Up After Nearly $1 BIllion In Swiss Franc Losses

We also added that "We have yet to find out just which hedge funds were blown up yesterday", for the simple reason that unlike public banks who have an obligation to reveal news, especially bad, to their shareholders, hedge funds PMs hope to avoid the LP firing squad until the last second. Alas, there is only so long that the day of reckoning can be delayed.

One such fund is the Everest Capital Global macro fund, which went from just shy of a billion to zero in milliseconds as a result of a near wipe out due to a massive CHF-short position.

Jan 18 08:48

Welcome to the Oligarch Recovery – Majority of Public School Students are in Poverty for First Time in 50 Years

“When they first come in my door in the morning, the first thing I do is an inventory of immediate needs: Did you eat? Are you clean? A big part of my job is making them feel safe,” said Sonya Romero-Smith, a veteran teacher at Lew Wallace Elementary School in Albuquerque. Fourteen of her 18 kindergartners are eligible for free lunches.

She helps them clean up with bathroom wipes and toothbrushes, and she stocks a drawer with clean socks, underwear, pants and shoes.

From the Washington Post article: Majority of U.S. Public School Students are in Poverty

It’s a recovery so lopsided only Timothy Geithner or an oligarch could love it. Since 2008, U.S. economic policy has concentrated on funneling as much money as possible to billionaires, keeping the poor alive and submissive through government programs, and squeezing the middle class to death while at the same time holding out the carrot of hope that things will return to how they were before (they won’t).

Webmaster's Commentary: 

Please be aware that numbers like this do not just happen by accident.

Obama has been a master at waving his faux populism about,in order to get the masses to believe that he actually thinks this way.

But at the end of the day, he is no less a flunky to the monied classes who got him elected twice than was his predecessor, George Bush.

Jan 18 08:46

Wall street banks trying to secure themselves for the collapse?

your savings

image: http://images.intellitxt.com/ast/adTypes/icon1.png
, pensions, insurances etc. will all be gone, as derivatives are now the most protected assets according to the new law…

Jan 18 08:39

Greek Bank Runs Herald Exit From Eurozone

A fiat currency is only worth what people think it is worth. That goes for a country’s banking system as well. In Greece, where the Eurozone crisis started almost five years ago, it seems the Greek people do not have much faith in their banking institutions.

The bank runs have started. Who knows where this current round of Greek tragedy will end? I can say it will not end well.

Jan 18 08:28

Chief of Obamacare rollout resigns amid allegations of misconduct

The top Obama official overseeing the so-called rollout of the Affordable Care Act (ACA) of 2010, commonly called ObamaCare, has notified the administration on Friday that she his leaving her position after serving five years. Marilyn Tavenner, the Center for Medicaid and Medicare Services (CMS) administrator, said she will official vacate her office in February.

Tavenner's service included the rollout snafu in which the multi-million dollar HealthCare.gov website cause enormous problems for both the Obama administration and the Americans attempting to enroll. It also included allegations of "gaming the numbers" when it was discovered the administration released a report containing inflated enrollment statistics.

Jan 17 21:02

Inflation Deterring Economic Growth

Jan 17 20:10

Everest Macro Hedge Fund Blows Up After Nearly $1 BIllion In Swiss Franc Losses

Everest Capital’s Global Fund had about $830 million in assets as of the end of December, according to a client report. The Miami-based firm, which specializes in emerging markets, still manages seven funds with about $2.2 billion in assets. The global fund, the firm’s oldest, was betting the Swiss franc would decline. Other hedge funds that have suffered amid the Swiss turmoil, according to people familiar with the situation, are Discovery Capital Management LLC, a South Norwalk, Conn. firm that manages $14.7 billion, and Comac Capital LLP, which oversees $1.2 billion in London.

Jan 17 18:58

Why are investors rushing to the gold markets

Jan 17 12:59

Stefan Molyneux 'Free' Community College!

TANSTAAFL! "Free" in government terms is not free in actuality. It'll cost the taxpayers at the state and federal level, cost the college students, and cost the people who already earned their degrees.

Jan 17 11:15

China and Russia launching new credit rating agency in 2015

The new Universal Credit Rating Group (UCRG) is being set up to rival the existing agencies Moody’s, S&P and Fitch, and its first rating will be issued this year.

The setting up of UCRG is in its final stages, ready to challenge the ‘Big Three’ that currently dominate the industry, the Managing Director of RusRating Aleksandr Ovchinnikov told Sputnik News Agency on Tuesday.

“In our opinion, the first ratings [will] appear … during the current year,” Ovchinnikov said, adding that accreditation with the local regulator is already underway.

The news comes on the heels of Fitch’s decision to follow S&P in downgrading Russia’s sovereign credit rating to BBB-, a step above junk level and on par with India and Turkey.

Jan 17 10:44

Gas Theft and Auschwitz Snub… Russia’s Every Right to End the Insults

How many insults does the European Union expect Russia to bear without consequences? Ethnic cleansing of Russian people by the Brussels-backed Kiev regime, a refugee crisis on Russia’s borders, economic sanctions based on groundless accusations hurting Russian society – and now this – the neo-Nazi cabal that seized power in Ukraine with CIA backing last year has repeatedly been found guilty of siphoning off Russia’s natural gas exports to the EU.

Russia’s objective is simply this: to put an end to the Kiev regime’s de facto theft of Russian gas exports to Europe. How much more reasonable can that be?

No doubt the dutiful Western corporate media will crank up the «Putin as arch villain» narrative. Families freezing across Europe will be attributed to the «evil genius» of the «Soviet mastermind».

Jan 17 10:42

Muscular Swiss franc creates financial havoc in Poland and Hungary

The fallout from the decision taken by the Swiss National Bank to remove the cap on its currency is a dream for some and a nightmare for others.

In Geneva queues formed outside foreign-exchange offices as those with Swiss francs hastily changed them into euros while the going was good.

One such man expressed his delight: “For me it is excellent news, for everything, for holidays, for shopping. I do a lot of shopping in France it is cheaper than in Switzerland and now its even cheaper we must seize the moment.”

Not much chance for cheer in Poland where more than 1.5 million are exposed to higher interest repayments on Swiss loans.

Jan 17 10:40

Moody’s Downgrades Russia’s Government Bond Rating to Baa3

Moody's has downgraded the government bond rating for Russia from Baa3 to Baa2, the agency has said in a statement, adding that it expects the country's GDB to contract by 5.5 percent this year and by 3 percent in 2016.

Webmaster's Commentary: 

Of course, Moody's also told us those mortgage backed securities were Triple-A back in 2008, so I wouldn't pay any attention to them when they talk about Russia!

Jan 17 10:34

ALL WARS ARE BANKERS' WARS - PDF version

Webmaster's Commentary: 

It has been brought to my attention that someone, intending to discourage the public from reading this article, has circulated a PDF version of "All Wars Are Bankers' Wars" that is causing damage to the computers of people who try to read it. This link is the only official WRH PDF version of this article.

Jan 17 10:30

Stefan Molyneux End of the World (due to government policy and stupidity)

foul language - but consider the topic

food for thought on intervention:
multiculturalism without shared frameworks
poverty-creating welfare programs
supporting the warfare programs
international aid as imperialism
accelerated destructive capabilities vs peaceful viral memes

Jan 17 10:02

Budget delay screams time to panic

Despite a slowing economy, massive layoffs, declining oil prices and general volatility, Federal Finance Minister Joe Oliver would like Canadians to know that it is definitely not time to panic.

Unfortunately, even though that’s what he’s saying, almost everything Oliver is doing suggests panic has already taken root in Ottawa.

Jan 17 08:27

All Manipulations Fail, and Sometimes With a Bang

nothing unsustainable can be sustained by definition

But unlike Michael Rivero, I doubt there will be a short disruption since the US and other economies are well-entrained and banksters will try to print their way thru it. As long as cops and the military get paid - even though in devaluing fiat currency - they will continue to do the only thing they know how to do - protect the monied interests.

I expect a long grinding mess with coups and counter-coups and massive unnecessary deaths until the last drop of value fades away. It will suck horribly and I hope thinking people will be able to rebuild on the other side.

Jan 17 08:09

Central Banks Upside Down

Without realistic expectations of a brighter future, monetary policy is like pushing on a string. People can see widespread business failures, unemployment, hostile entrepreneurship environment, civil forfeiture, poverty draft, protectionist policies toward the well-connected and all the other signs of crony capitalism. As Richard J Maybury put it: Godzilla (political law) is on rampage and no-one is stupid enough to build until higher law returns

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