ECONOMY | WHAT REALLY HAPPENED


ECONOMY

Dec 04 13:06

Oil And The Global Slowdown: It's Time For Central Banks To Admit Their Failures

The world economy is slowing down and the authorities are fretting.

Japan, Italy, and Greece are all in recession. China is slowing down according to official statistics, and even more according to whispered accounts.

Germany, France and the Netherlands are all at stall speed.

Dec 04 12:48

'Colossal cuts' needed after General Election, warns IFS

Britain faces public spending cuts on a "colossal scale" after the General Election which will lead to a "fundamental reimagining" of the role of the state, the Institute for Fiscal Studies has warned.

The respected economic thinktank said that just £35bn of the cuts in spending by government departments have been completed, with £55bn still to come by 2020.

It said that if cuts in departmental spending continue at the same pace, £21billion worth of cuts to welfare or tax rises will be needed by 2019/20.

Dec 04 12:45

Osborne’s spending cuts will change state ‘beyond recognition’, says IFS

George Osborne’s plans to increase the speed of public sector spending cuts over the next five years will force a “fundamental re-imagining of the state”, according to analysis of the chancellor’s autumn statement by Britain’s leading tax and spending expert.

The scale of cuts to departmental budgets and local government will reduce the role of the state to a point where it “will have changed beyond recognition”, the Institute for Fiscal Studies (IFS) said as it digested the scale of cuts needed to achieve a budget surplus pencilled in by the chancellor for 2019-20.

Dec 04 11:56

VIDEO: GEORGE OSBORNE “HITTING THE DRUGS HARD AGAIN”

New footage has surfaced which appears to show George Osborne experiencing drug-induced spasms during a session of Prime Minister's Questions. The images of the Chancellor's sweating, gurning face has reignited national debate as to whether or not Britain is best served by a Chancellor of the Exchequer in the midst of what appears to be another "coke and whores binge".

Dec 04 11:43

Oil prices falling, who suffers? - Tony Gosling on West economic warfare vs Russia

Ahead of Putin's state of the nation address, international media coverage was full of doom-and-gloom warnings for the Russian economy. The low crude price has indeed put a strain on Russia's finances, but what's the impact for the rest of the world?

Dec 04 11:10

Russia's Central Bank Hit by Accusations of Sabotaging Ruble

The Prosecutor General's Office is looking into the Central Bank's operations after a ruling party lawmaker accused it being an "enemy of the country" by supposedly driving down the ruble and plotting "evil" against Russia.

Webmaster's Commentary: 

Ahh, those central bankers stick together!

Dec 04 09:31

ECB 'steps up' plans for more stimulus measures

The European Central Bank (ECB) has "stepped up" plans for more stimulus measures aimed at revitalising the eurozone economy, bank president Mario Draghi has said.

Webmaster's Commentary: 

Meaning they will print up more money to give to the banks to lend to the people at interest!

Dec 04 09:28

'Where are they going to go? We can't magic up homes for them': As the police move in to clear the squalid Silicon Valley homeless camp, charities fear that its 300 former residents will just set up another camp

Dilapidated, muddy and squalid though it was, it was all they had to call home.

And today signaled the end for more than 300 residents of a shantytown known as the 'The Jungle' - who have been forced out of their makeshift abodes and underground homes.

But with many having nowhere else to go, charities say the evacuated residents will simply set up camp elsewhere.

Its location is of note - at the heart of opulent Silicon Valley, home to tech giants Google, Apple and Facebook, and its dismantling has stirred up controversy.

Dec 04 09:12

Congress Agrees to Troop Pay, BAH Cuts in Budget Compromise

Service members next year will be paying more for prescriptions bought off base, getting less of a housing subsidy and a picking up a smaller pay raise under an agreement reached between Senate and House lawmakers.

Webmaster's Commentary: 

Dec 04 09:12

Do You Have An AMAZON/CIA Account?

A $600 million computing cloud built by an outside company is a "radical departure"

Dec 04 09:06

THE FOREX FIX: UNDERSTANDING THE FOREIGN CURRENCY SCAM IN LONDON

If you’ve been following the orgy of white collar crime since the 2008 meltdown, one notable thing emerges from the jumbled haze: Wall Street seems to offshore a lot of its criminality to the City of London. From Libor to the London Whale, almost every recent financial scandal has a connection to the U.K.’s financial district. The latest one people are talking about is the Forex, or FX, a decentralized foreign exchange market that trades in the world’s currencies. The exchange in the City of London controls around 40% of the FX, amounting to its biggest market on the planet. The daily rate for a given currency is referred to by traders as “the fix” – a nicely ironic term considering that the fix has been in, literally, on the Forex exchange in London for at least 10 years.

Dec 04 08:42

Red Cross exposed as scam in searing investigation published by ProPublica

A pair of massive, once-in-a-generation storms lambasted regions of the U.S., leaving in their wake destruction, some death and havoc. Hundreds of thousands of people were without food, shelter and power, many for weeks on end.

But Americans responded like they always do after such disasters, whether they occur on home soil or abroad: They opened up their pocketbooks and donated to charities ostensibly aimed at helping victims.

In particular, according to a recent investigative report by ProPublica and National Public Radio, Americans sent the Red Cross hundreds of millions of dollars because they believed that their donations would be well used to relieve the suffering of victims pounded by Superstorm Sandy and Hurricane Isaac.

It didn't happen. Per the report:

Dec 04 08:32

Chinese Investors Snap Up Property in Bankrupt Detroit

Bankrupt Detroit’s thousands of empty buildings are being flogged at rock-bottom prices — and Chinese investors are answering the siren call of unbeatable deals, reports NBC News.

Dec 04 08:05

Florida Judge Just Lifted Controversial Ban On Feeding Homeless

The Fort Lauderdale ordinance that has become infamous throughout the world in just one month has now been suspended by a Florida judge.

Broward Circuit Judge Thomas Lynch suspended enforcement of the ordinance restricting the all public feeding of homeless people. But the suspension is only for 30 days so far. During that time, the judge has ordered mediation on the issue.

Dec 04 08:03

Washington Obamacare Exchange Kicks 6,000 Off Their Plans

A problem with Washington state’s Obamacare exchange cancelled 6,000 accounts’ insurance plans and payments, the exchange admitted Tuesday night.

Dec 04 06:38

Russia imposes restrictions on poultry imports from US

Russia has decided to impose restrictions on poultry imports from the United States because of “harmful residues.” Russia’s Veterinary and Phytosanitary Surveillance Service (VPSS) said on Thursday that the new decision would come into effect as of December 5.

VPSS said it made the decision due to “the ongoing identification of harmful residues and banned substances coming from the US poultry products, including the presence of tetracycline.”

Dec 04 05:05

Five Facts About the Crony Interest in Food Stamps

One-sixth of the country is now receiving food stamps and the number just continues to climb.

Most argue this increase simply has to do with the terrible recession and resultant unemployment; but the food stamp program, now known as the Supplemental Nutrition Assistance Program or SNAP, is yet another crony capitalist scheme (surprise, surprise).

But ultimately, as more people lose their jobs or are forced to take low-paying jobs and more of those people get on food stamps, this system (like so many others in this country) is not even remotely sustainable.

If things continue this way, we are definitely set to see a Cloward-Piven style collapse in America. And even our congressmen have admitted that’s what they believe our current president is trying to do.

Here are a few more crony facts most people might not realize about our nation’s food stamp program...

(read more)

Dec 04 05:02

Look How Bad They Want You on Food Stamps

Wow, we didn't realize we can call up our very own food stamp outreach coordinator to help us not only find out if we qualify for food stamps, but help us fill out the application AND help us again when it's time to reapply for more food stamps, too! Why, they'll just about do everything but buy the groceries and deliver them to our house for us!

Dec 03 18:38

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.

Dec 03 16:11

L.A. Fitness "is working in conjunction with the police department"

I picked up 2 free week-long 'guest passes' for L.A. Fitness gym which were advertised at a local pizza place recently, and when I went on the L.A. Fitness website, I found something that looked a bit squirrely, so I e-mailed them about it.

Dec 03 15:40

"Honestly, you've all gone mad."

Dec 03 15:20

Greece needs bailout extension as new credit line delayed, EU official says

Greece will have to ask for an extension on its bailout program before parliaments in eurozone nations close for Christmas because a new credit line will not be ready in time, a senior euro zone official said on Wednesday.

Dec 03 15:10

Equity put/call hitting some depths

Dec 03 14:30

Poll: Nearly 4 in 10 say California Obamacare exchange not working well

Nearly four in 10 Californians say the state's health exchange isn't working well as the second open enrollment gets underway, a new survey shows.

The results from the Public Policy Institute of California survey may reflect persistent service problems experienced by some consumers as well as continued partisan opposition to the federal overhaul.

Dec 03 13:02

Israeli trade control causes $310m loss for Palestinian Authority

The Palestinian Authority lost at least $310 million in customs and sales tax in 2011 as a result of importing from or through Israeli-occupied territories, the UN said Wednesday, urging a radical change to the system.

Dec 03 12:57

US Resorts to Illegality to Protect Failed Policies — Paul Craig Roberts & Dave Kranzler

In a blatant and massive market intervention, the price of gold was smashed on Friday. Right after the Comex opened on Friday morning 7,008 paper gold contracts representing 20 tonnes of gold were dumped in the New York Comex futures market at 8:50 a.m. EST. At 12:35 a.m. EST 10,324 contracts representing 30 tonnes of gold were dropped on the Comex futures market.

Dec 03 12:53

Baltimore City Says It Does Not Plan to Privatize Water

Baltimore's City Council questions top official over plans to use private companies to study how to improve aging water system as opponents warn such a move could lead to privatization

Dec 03 11:30

Add the title of "loan shark to Dictatorships" to Goldman Sachs many varied roles around the world

How Goldman Sachs Became Broke Venezuela's Loan Shark

Dec 03 10:17

HOW GOLDMAN SACHS BECAME BROKE VENEZUELA'S LOAN SHARK

Add the title of "loan shark to Dictatorships" to Goldman Sachs many varied roles around the world. As Venezuela teeters on the brink of tearings its utopian social fabric apart (by which we mean paying its soldiers while impoverishing its people to in order to maintain 'peace') crushed by plunging oil revenues, everyone's favorite American bank 'generously' offered to buy (from Venezuela) $4bn worth of oil debt owed by the Dominican Republic for 41% of its value, according to El Nuevo Herald.

Dec 03 09:43

Rising Cost of Living Makes People Poorer

Dec 03 09:42

John Williams - America and Dollar in Trouble

John Williams of ShadowStats.com says, “We are still living in the throes of the panic of 2008. What the central banks did at that time, specifically the Fed and the Treasury, was to take actions to push all the issues into the future. They didn’t do anything to solve the basic problem. The banking system is still in trouble. It is far from solvent, far from normal. You don’t have regular bank lending. If you had regular bank lending, the economy would really be much stronger. It’s not.” Williams goes on to say, “People outside the United States know America is in trouble, and they know the dollar is in trouble. It’s not going to take much to trigger a reversal of the current circumstances. It could be an unusually weak economic statistic, and believe me, those are coming.”

Dec 03 09:38

Zen and the Art of Cancer and other Living Things.

The world continues to carousel through space, spinning through continuums of apprehension and threat. Hope springs eternal, like soft grass, routinely trampled by marching hobnailed boots. Then it springs up somewhere else. It’s not springing up here. That’s the ass media version and then we get into maybe a little less ass media over here, where a name crops up and then we get some more over here. They don’t say that the Russian is one of those oligarchs and when you go to search on him you find a very surprising …nada.

Dec 03 09:34

Marijuana’s Long Term Effects On The Brain Finally Revealed!

With a drug war against marijuana still raging in more countries than not, the question of how long-term marijuana use effects the human brain is a pivotal question in its legalization. Although alcohol remains legal despite heaps of evidence to the dangers of long-term use, the fight to make marijuana available both with regard to its medical properties (especially in selectively killing cancer cells) and non-medical uses has frequently hinged on the various claims made about marijuana’s effects on the recreational user.

Webmaster's Commentary: 

The government rulings about alcohol, tobacco, and marijuana, are not based on what is good or bad for you (although that is the usual government cover-story) but what can be controlled and taxed versus what you might produce in your own home for your own use, from which neither corporations nor government can profit.

Dec 03 09:27

JPMorgan Rushed to Hire Trader Who Suggested on His Resume That He Knew How to Game Electric Markets

The internal emails at JPMorgan and Bartholomew’s resume are now marked as Exhibit 76 in a two-year investigation conducted by the U.S. Senate’s Permanent Subcommittee on Investigations into Wall Street’s vast ownership of physical commodities and rigging of commodity markets. Senator Carl Levin, the Chair of the Subcommittee, had this to say about the resume at a hearing conducted on November 21:

"There’s two things that I find incredible about this. First, that anyone would advertise in a resume that they know about a flaw in the system — signaling that they’re ready and willing to exploit that flaw. And, second, that somebody would hire the person sending that signal."

Dec 03 09:17

Housing Fraud is Back – Real Estate Industry Intentionally Inflating Home Appraisals

Almost 40% of appraisers surveyed from Sept. 15 through Nov. 7 reported experiencing pressure to inflate values, according to Allterra Group LLC, a for-profit appraiser-advocacy firm based in Salisbury, Md. That figure was 37% in the survey for the previous year.

Dec 03 09:14

‘Don’t mention the deficit’ – that’s the rule at Westminster

Deficit? What deficit? After days of flashy spending announcements from the Government, poohed poohed and countered by even more promises from Her Majesty’s Opposition, you could be forgiven for forgetting we even had one.

The fact is that the structural deficit – the gap between tax revenues and government outgoings that exists wherever we are in the economic cycle – remains stubbornly high. Higher than Germany’s. Higher even than Greece’s. It’s just that, with the general election looming, none of the three main parties feel like being honest about it.

Dec 03 09:13

Bankers Who Commit Fraud, Like Murderers, Are Supposed to Go to Jail

Wow, some things are really hard for elite media types to understand. In his column in the Washington Post, Richard Cohen struggles with how we should punish bankers who commit crimes like manipulating foreign exchange rates (or Libor rates, or pass on fraudulent mortgages in mortgage backed securities, or don't follow the law in foreclosing on homes etc.).

Dec 03 08:56

If crazed Americans trample each other over discounted TVs, what will they do to acquire supplies in an actual life-or-death crisis?

As comedian Bill Burr hilariously points out, if you are stockpiling food and preparedness supplies but don't have a gun to defend it, all you're doing is gathering supplies for the biggest bully on the block.

A recent article by Daisy Luther from The Organic Prepper really nails this point by including photos of Black Friday mobs trampling each other in America, then asking the question, "What would these people act like over something that was actually a matter of life and death?"

Dec 03 08:50

Study: Corporate Bribery and Corruption Grease the Gears of Global Capitalism

Large multinational corporations are behind the majority of documented bribes worldwide, with most payers and takers hailing from rich nations, according to a study released Tuesday by the 34-nation Organization for Economic Cooperation and Development (OECD).

The report, which evaluated data obtained from 427 bribery offense cases spanning the past 15 years, found that 57 percent of all bribes examined involved corporate efforts to obtain public contracts—mostly in western, more developed states. Customs and defense officials accounted for a significant proportion of bribe recipients, at 11% and 6% respectively.

Dec 03 08:45

5 Complete Lies About America's New $18 Trillion Debt Level

On October 22, 1981, the government of the United States of America accumulated an astounding $1 TRILLION in debt. At that point, it had taken the country 74,984 days (more than 205 years) to accumulate its first trillion in debt. It would take less than five years to accumulate its second trillion. And as the US government just hit $18 trillion in debt on Friday afternoon, it has taken a measly 403 days to accumulate its most recent trillion.

Dec 03 08:18

Another Ponzi Roll Over of US Treasury Debt

As the holiday season draws nearer, it is nice to know that a present for all Americans and future generations is building as the hordes of consumers’ storm the aisles of their favorite box store so that they can go further in debt. Much like maxing out your plastic limits and paying the monthly minimum, the U.S. Treasury just keeps rolling over their debt since their credit card has no ceiling. The banksters behind the Federal Reserve have no problem with monetizing the national debt, since the Treasury provides their stamp of guarantee. As the public sector continues their spending spree, few really know the extent and amount of their share of the obligation.

Dec 02 21:03

Chinese investors signing up to spend $500k on Pennsylvania Turnpike to get permanent residency in the United States

Chinese investors have begun signing up to spend $500,000 each to help pay for a long-awaited connection between the Pennsylvania Turnpike and I-95. In exchange, the investors hope to get permanent residency in the United States for themselves and their families. Agents for the novel financing plan have been pitching the proposal in China since September, touting the project's financial stability and showcasing photos of Gov. Corbett and Turnpike Commission officials breaking ground for the construction in Bucks County.

Dec 02 20:47

Electricity Infrastructure in Detroit “Beyond Salvage”

When a major U.S. city’s government loses power to its schools, fire stations, government buildings and sporting arenas because it’s operating on an antiquated power grid that it can’t afford to update, it’s national news, Detroit proved Tuesday. Media across the nation covered the power outage that selectively impacted municipal buildings in Detroit, the criminal courthouse, schools, sporting arenas, a hospital and City Hall. The buildings receive their electricity from the Detroit Public Lighting Department on an internal energy grid, rather than from area utility DTE Energy.

Dec 02 20:07

Hedge Funds Shutting Down at Record Rate

Dec 02 17:05

Claire Rivero's Music - Lord Help Us Make This World A Better Place

Webmaster's Commentary: 

After today's radio interview on child hunger I felt it was time for a repost.

Dec 02 16:05

EU Puppet Bulgaria Kills Russian Pipeline

President Vladimir V. Putin of Russia said South Stream, a major project to deliver natural gas to Europe, would be redirected through Turkey after pressure from the European Union.

Dec 02 15:48

Nobel Prize Winning Economists, Federal Reserve Chair and Other Top Experts: War Is BAD for the Economy

Debunking the Stubborn Myth that War Is Good for the Economy

About.com notes:

One of the more enduring myths in Western society is that wars are somehow good for the economy.

It is vital for policy-makers, economists and the public to have access to a definitive analysis to determine once and for all whether war is good or bad for the economy.

That analysis is below.

Dec 02 15:27

Project Sunlight

Israel’s didn’t perform well in the last round of violence. The IDF didn’t achieve a single military objective. After a few days, its forces withdrew, humiliated and exhausted. The Israeli military admitted that it lacked an answer to Palestinian ballistics, tunnels and fierceness. In addition, the conflict in Gaza spilled over to the West Bank and to Israeli cities. Throughout, Netanyahu’s cabinet reacted slowly. It seemed confused by events. Soon Israelis were openly admitting that the future of the Jewish State was gloomier than ever.

Dec 02 15:19

Humans Need Not Apply

Dec 02 14:42

Why so many people are still malnourished

Dec 02 13:42

How to fix property taxes: Get rid of them

Dec 02 13:26

How I Realized Child Hunger Hits Everyone Close To Home

It didn't take long for reality to hit close to home -- literally -- for me as I was filming my latest documentary, "Going to Bed Hungry: The New Face of Child Hunger." I was in Palm Desert, California, where my wife and I were married. It's an area near Los Angeles that we visit often and that has come to feel like a second home to our family. The beautiful resort community is filled with swimming pools, restaurants, and award-winning golf courses. According to a recent census report, one out of every two adults in the area are millionaires. Yet when we began research for our story, things suddenly took an interesting turn.

Webmaster's Commentary: 

Patrick Creadon is our first hour guest on today's radio show.

Dec 02 13:19

ObamaCare incentivizes hiring amnestied illegals to the tune of $3000 each

If there’s one thing we’ve learned about ObamaCare - aside from the fact that it’s an abject disaster in terms of meeting its stated goals - it’s that the unintended consequences of its passage just keep piling up. Sure, conservatives warned of the chaos that would stem from the Dems’ “signature legislation,” but even those of us who were sounding the alarm are amazed at how it keeps managing to fail in new, exciting, ways.

Today we’re learning that the law actually incentivizes corporations to hire the millions of illegals who are currently enjoying Obama’s unconstitutional amnesty order - instead of hiring actual, legal, U.S. citizens. In fact, under the ACA, companies who hire an amnestied illegal can dodge a $3,000 penalty that they would have had to pay if they’d hired a citizen.

Webmaster's Commentary: 

WTF?

Dec 02 12:53

Will Crashing Oil Prices Prevent Economic Collapse or Speed It Up?

Eric Blair
Activist Post

Lower oil and gas prices may keep the economic illusion going for a bit longer in America, but it also may quicken the collapse.

Many people assume economic collapse will happen in one dramatic moment; a flash crash of the stock market, or massive failure of the dollar, for example. While these events are certainly possible and mathematically probable, major crashes are already taking place across the economy.

The crashing oil price is indeed part of the collapse...

Dec 02 12:51

Our Precarious Economic and Political Circumstance; a Summary

Webmaster's Commentary: 

This is a summary of the collapse of our economy...

$1.2 Quadrillion in Derivatives
$18 Trillion to debt created on interest to the Federal Reserve for printing the currency
$ Trillions in Quantitative Easing to bail out the banks
$160 Trillion in unfunded liabilities to programs such as Social Security and Welfare
Great Depression unemployment rates

Dec 02 12:05

Ron Paul: Evangelicals’ Support for War at Odds With Fundamental Teachings of Jesus

Dr. Ron Paul rails against the Christian evangelical warmongers who refuse to "turn the other cheek."

Dec 02 11:39

Citi Shutters Lavaflow - 5th Largest 'Dark Pool' In America

When the 5th largest dark pool trading venue (by volume) in America is shuttered, as Citi notes because its "capital, resources and efforts would be better redeployed elsewhere," you know there is a problem in US stock trading volumes and liquidity.

Dec 02 11:37

Five complete lies about America’s new $18 trillion debt level

There’s so much misinformation and propaganda about this; let’s examine some of the biggest lies out there about the US debt:

1) “They can get it under control.”

What a massive lie. Politicians have been saying for decades that they’re going to cut spending and get the debt under control.

FACT: The last time the US debt actually decreased from one fiscal year to the next was back in 1957 during the EISENHOWER administration.

FACT: For the last several years, the US government has been spending roughly 90% of its ENTIRE tax revenue just to pay for mandatory entitlement programs and interest on the debt.

This leaves almost nothing for practically everything else we think of as government.

Webmaster's Commentary: 

But the Wall Street bankers are doing just fine!

Just two of Lloyd Blankfein's houses!



Dec 02 11:12

The Idiotic Economic Theory that Is Causing Governments to Blow Up their Economies

No, We CAN’T Inflate Our Way Out of a Debt Trap.

Top mainstream economists have pushed the theory that we can inflate our way out of a debt crisis.

Ben Bernanke and Paul Krugman said in 2009 that we should force inflation on the economy. University of Oregon economics professor Tim Duy said the U.S. will ultimately try to inflate its way out of debt.

Dec 02 10:35

The Eve Of Another Banking Collapse

During the American Economic Depression of the 1930's, some bank deposits were devalued by 40%. In simple terms, this meant that deposits valued at $1,000 were deemed to be worth only $600. A plan agreed at the G20 Summit in Brisbane (November 16, 2014), allows for depositors' money to be used to bail out 'failing' banks. That is, a contingency has been put in place to allow governments to use their citizens' money to rescue banks which get into difficulties, because of their faulty mortgage lending policies, or reckless gambling on the derivatives market.

Dec 02 10:16

George 'Slasher' Osborne - wanted for austerity heist

Politicians have their eyes on the general election. The leaked proposals from George Osborne’s last pre-election Autumn Statement were all about spinning the line that the Tories rescued Britain from economic crisis.

Osborne declared he could announce big spending packages because, thanks to him, Britain is in economic recovery.

Osborne’s announcements don’t include any new money. And much of the road and flood control spending is blatantly targeting marginal Tory seats.

Dec 02 09:47

The Tories’ NHS cash pledge can’t mask their assault on the NHS

Tory chancellor George Osborne has claimed that the government will give the NHS a £2 billion “lifeline”.

The NHS is in financial meltdown—and the Tories upping their smoke and mirrors game isn’t going to save it.

England’s health boss Simon Stevens warned that the NHS is facing an £8 billion black hole.

Dec 02 09:46

MoD 'spent £6m on earplugs that didn't work': Figures buried in annual report show £5.7 BILLION wasted last year after string of ordering errors

The Ministry of Defence wasted £6 million on new high-tech earplugs that were supposed to allow soldiers to hear each other on the battlefield while blocking out the noise of explosions and gunfire.

Senior officials tested the equipment in the UK before authorising the purchase. However, once the earplugs were tested on the battlefield, they were found to be ineffective.

Each set of earplugs was specially moulded for an individual soldier at a cost of £500.

Dec 02 09:36

Silver Open Interest Anomaly

What changed? I don’t know, but some possibilities are:

A large buyer has aggressively added to futures contracts in the last several years and has remained long instead of selling and accepting losses as prices dropped.
There was clear recognition that massive debt, bond monetization, QE, and “Operation Twist” would eventually devalue all currencies so consequently “big money” began moving into silver futures as an alternative.
Germany requested the return (a few months later) of her gold from the NY Federal Reserve which encouraged insiders to buy silver futures.
High Frequency Trading and market manipulation which attempted to suppress the prices for gold and silver, levitate the S&P, and sell the “economic recovery” story caused the anomaly.
Something else.

Dec 02 09:30

Europe May Face 'Disaster' Due to South Stream Cancellation: Czech Company

Cancellation of the South Stream gas pipeline project spells a disaster for the Baltic States, as well as Bulgaria, Serbia, Hungary and Austria, the marketing director of Czech gas company said.

Dec 02 08:34

Defending Dollar Imperialism

“No matter what our Western counterparts tell us, we can see what’s going on. NATO is blatantly building up its forces in Eastern Europe, including the Black Sea and the Baltic Sea areas. Its operational and combat training activities are gaining in scale.” Russian President Vladimir Putin

If there was a way the United States could achieve its long-term strategic objectives and, at the same time, avoid a war with Russia, it would so. Unfortunately, that is not an option, which is why there’s going to be a clash between the two nuclear-armed adversaries sometime in the near future.

Webmaster's Commentary: 
Dec 02 08:02

Russia takes Asia Pacific states as key oil and gas partners — ministry official

Russia takes Asia-Pacific states as main partners in the oil and gas sector, director of the department of oil and gas production and delivery at Russian Energy Ministry Alexander Gladkov said at the opening of the Russian stand at the 20th Offshore South East Asia Conference and Exhibition (OSEA 2014) on Tuesday.

Russia “counts on development of mutually beneficial cooperation in this sphere,” he said.

Dec 02 07:47

'South Stream another casualty of sanctions, poor relations between Russia & West'

The breakdown of talks between Russia and Europe over the South Stream pipeline is another example of diplomatic discord between Moscow and Brussels, but they still need to cooperate over gas for the next 20-30 years.

Dec 02 07:43

Cheap Gas, Crumbling Infrastructure Spark Fuel Tax Talk

This piece comes to us courtesy of Stateline. Stateline is a nonpartisan, nonprofit news service of the Pew Charitable Trusts that provides daily reporting and analysis on trends in state policy.

While consumers rejoice at lower gasoline prices, states with fuel taxes that increase or decrease with the wholesale price of gasoline or the inflation rate are struggling to deal with declining revenues.

Dec 02 05:33

Will OPEC bankrupt US shale producers?

Dec 02 05:18

Mocking Black Friday Shoppers Isn’t Just Classist — It Plays Into Retailers’ Hands

***
“Black Friday” takes those deceptive retail tactics that companies practice during sales all across the calendar and combines them with other forms of manipulation to squeeze dollars out of the desperate. Stores design the physical layout of goods carefully to capitalize on shopper psychology and steer adrenaline-pumped people into bad purchases.
***

Dec 02 01:24

Exported oil paid for in foreign currency, Russia makes more money than expected

The Russian ruble suffered its worst one-day fall since 1998, plummeting eight percent against the dollar, but every cloud has a silver lining.

Dec 02 01:03

Walmart Black Friday Strikes - A New Thanksgiving Tradition

Yesterday marked the third annual Black Friday protests and strikes at Walmart, the largest private employer in this country. The Walton family, controlling owners of the company, is America’s richest family, with holdings valued at almost $150 billion dollars. For decades, Walmart has remained an employer powerhouse based upon a business model of low wages, poor benefits and union busting.

Dec 02 01:00

US retail sales plunge during “Black Friday” weekend

The five-day shopping period from November 27 through December 1, including Thanksgiving and the relentlessly promoted “Black Friday,” “Small business Saturday” and “Cyber Monday,” will turn out to be a bust in 2014, according to estimates by the National Retail Federation. The drop in holiday sales reflects the fact that the disposable incomes of working-class households continue to stagnate and decline, despite a raging stock market and record corporate profits.

Dec 01 19:32

Putin drops South Stream gas pipeline to EU, courts Turkey

Russia on Monday scrapped the South Stream pipeline project to supply gas to southern Europe without crossing Ukraine, citing EU objections, and instead named Turkey as its preferred partner for an alternative pipeline, with a promise of hefty discounts.

Dec 01 17:57

That Gigantic Sucking Sound: Goverment is coming for everything you own

There is a strange entity sucking the very essence from Americans today. It is almost as if there is a gargantuan mosquito the size of Godzilla and it has attached itself to the Earth and draining us all dry. As if Quantitative easing, record-low interest rates, bail-ins and the war on drugs isn't enough to deprive us all of what we have earned, now the feds and local governments are inventing new ways to take more from us. Social engineering the masses to work harder, longer for nothing at all.

Dec 01 17:31

5 Reasons Why I Own Gold

Dec 01 16:49

Guess What Happened The Last Time The Price Of Oil Crashed Like This?…

There has only been one other time in history when the price of oil has crashed by more than 40 dollars in less than 6 months. The last time this happened was during the second half of 2008, and the beginning of that oil price crash preceded the great financial collapse that happened later that year by several months. Well, now it is happening again, but this time the stakes are even higher. When the price of oil falls dramatically, that is a sign that economic activity is slowing down. It can also have a tremendously destabilizing affect on financial markets. As you will read about below, energy companies now account for approximately 20 percent of the junk bond market. And a junk bond implosion is usually a signal that a major stock market crash is on the way. So if you are looking for a “canary in the coal mine”, keep your eye on the performance of energy junk bonds. If they begin to collapse, that is a sign that all hell is about to break loose on Wall Street.

Dec 01 16:46

Federal Shutdown: Will Congress Ruin the Holidays?

The current government spending bill runs out in less than two weeks — December 11 — and it must be re-upped to prevent another federal shutdown. The good news is that Congress set the deadline with nearly three weeks before December 25, allowing a buffer of negotiating time before Social Security payments are jeopardized and national parks close.

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Dec 01 16:29

Falling Oil Prices Could Cripple ‘Vulnerable’ Russia, Trigger World War III

The Cold War 2.0 is going hot, and while it may someday be fought with planes, tanks, guns and bombs, the first front is being fought with oil and shale gas.

The U.S. and European sanctions against Russia will become more severe and crippling in the face of drastically falling oil prices – prices which are falling drastically because of the unprecedented boom of shale gas fracking both domestically in the U.S. and abroad in Ukraine and other locales. The oil & gas giants like Chevron and Exxon Mobil have created revolutionary conditions with now direct consequences on U.S. foreign policy and global war for dominance. Via Bloomberg:

Dec 01 16:27

What Are They Thinking?

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WRH Exclusive
Dec 01 16:25

Falling Oil Prices Could Cripple ‘Vulnerable’ Russia, Trigger World War III

The Cold War 2.0 is going hot, and while it may someday be fought with planes, tanks, guns and bombs, the first front is being fought with oil and shale gas.

Dec 01 16:17

Russell Brand joins London anti-eviction march against 'profit-greedy' US developer

Residents of an east London housing estate journeyed to the HQ of a US investment firm on Monday that plans to evict almost 100 families from their homes. Some 400 campaigners subsequently marched to No. 10 to hand a petition to PM David Cameron.

Grandparents, parents and children from Hoxton's New Era estate travelled across London on Monday in a fleet of buses to Westbrook Partners’ offices in Mayfair. Shortly after, hundreds gathered in Berkley Square and made their way to Downing Street as part of a day of protest organised by the New Era residents.

Webmaster's Commentary: 

Anyone able to connect me with Russell Brand? I would love to get him on my show!

Dec 01 15:54

Apple Flash Crash: Warning Shot Or No Big Deal?

This should freak you out.

Dec 01 15:37

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 01 15:35

Silver Soars 17% From Intraday Lows: Biggest Swing On Record; Gold Tops $1210 (+$70 Off Lows)

Silver is up over 17% from its intraday lows today - this is the biggest positive swing since our data began. All the previous major swings have been downshifts, most recently in September 2011 (-22% and -18% over 2 days). Volume is very high also. Gold is back above $1,210,up over $70 from its intraday lows...

Dec 01 15:34

Video Proof that Bitcoin Today is like the Internet in 1995

Jeff Berwick
Activist Post

The Internet has changed the world. It has changed the way humans interact and do business. There aren't many people today who could even imagine their life without the Internet.

It's amazing to consider that just twenty years ago most people didn't even know what it was...

Dec 01 15:33

Martin Armstrong Asks "Is It Time To Turn Off The Lights?" On America

"These idiots cannot grasp that this is reversing the US economy into isolationism and is paving the road for China to take the lead. It is time to turn off the lights."

Dec 01 15:33

How Apple Lost One American Airlines In Market Cap In Under A Minute

Between 9:49:54 and 9:50:43 Eastern, AAPL plunged from nearly 6%, from $117.69 to $111.27, a moved which wiped out one Transcanada (or one Travelers, or one Lukoil, or one Carnival, or one Christian Dior, or one Hyundai Motor Company, or one Takeda, or one State Street) in market cap.

Dec 01 15:11

Video: Financial Analyst: “We Are Very, Very Close To A Major Event Here”

For those paying attention to the global economy and the geo-political environment it’s hard not to see that something very serious is going on.

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