ECONOMY

Jun 09 12:17

World Leaders In Discussion For New Reserve Currency

China and Russia have made it quite clear in recent years that they are disgruntled with the way the United States has been abusing their “world reserve currency” privilege.

This privilege has enabled the U.S. to expand its military presence like no other country previously seen in history.

It has enabled the U.S. to print seemingly unlimited amounts of fiat in its futile attempt to keep bubble after bubble inflated, while big banks profit and the man on the street suffers.

Jun 09 10:44

Grand Geopolitical Project: Russia’s Gazprom signs Agreement to Abandon the Dollar

“It’s only the tip of the iceberg. A grand geopolitical project is beginning to materialize…”

On June 6 2014, the official Russian news agency Itar Tass announced what many were expecting since at least the beginning of the Ukrainian crisis: Russian main energy company, Gazprom Neft has finally “signed agreements with its consumers” to switch from Dollars to Euros (as transition to the ruble) “for payments under contracts”.

The announcement that the agreement has been actually signed and not just discussed was made by Gazprom’s Chief Executive Officer, Alexander Dyukov.

Jun 09 09:21

Public Exposed To “The Gold Conspiracy” In Ways Never Before Seen

Gold manipulation, the once laughed at topic is going mainstream.

We have discussed this in depth over the past few weeks, as the tipping point appears to have been reached.

Webmaster's Commentary: 

See The History Channel's "The Gold Conspiracy."

Jun 09 09:10

Secret European Cash Limits in Place

Some of you might remember the recent scandal where #HSBC tried to impose cash withdraw limits on their accounts:

Well it turns out that was just a trial balloon, to see how the public might react to withdraw limits being public knowledge. Limits that are already in place!

Let me tell you what my sources are telling me.

Webmaster's Commentary: 

When the ECB announced their negative interest rates, I predicted there would have to be some form of capital controls to prevent people from emptying their accounts.

Jun 09 09:09

‘Anti-homeless spikes’ outside London flats spark outrage on Twitter

Metal spikes many believe have been installed to deter homeless people from sleeping in an alcove outside a block of flats in London have sparked outrage on Twitter, after pictures of the building went viral.

Andrew Horton, 33, of Woking, Surrey, took a picture of the studs outside of the block of privately-owned flats on Southwark Bridge Road in the borough of Southwark as he walked to work on Wednesday.

Mr Horton told The Telegraph he believed the studs have been put in place to prevent homeless people from sleeping there.

“I can’t say for certain but it certainly looked like they were placed there to deter homeless people. It’s dreadful.”

Jun 09 08:43

Houston, We Have A Problem – or – Market Extremes Are Back

The S&P 500 Index hit another all-time high. All hail QE! This is great news for the 1% but did it help the lower 90% of the population?

Jun 09 08:43

Russian companies ‘de-dollarize’ and switch to yuan, other Asian currencies

Russia will start settling more contracts in Asian currencies, especially the yuan, in order to lessen its dependence on the dollar market, and because of Western-led sanctions that could freeze funds at any moment.

Webmaster's Commentary: 

Good reason for Americans to start dumping the dollar and conducting commerce with something else!

Jun 09 08:38

I Owe My Soul

Let's put the song aside for the moment and have a look at a concept that has been bandied about by the European Central Bank (ECB) for a while now. Since the collapse of the central banks would doom the world (their claim, not mine), it is essential that the banks be saved no matter what else must be sacrificed. Efforts to "save" the situation have been implemented through quantitative easing (QE) and the setting and continuation of low interest rates.

Unfortunately, in spite of record profits by banks and staggering bonuses handed out to senior bank executives, somehow the QE and low interest rates have not created the prosperity desired. The economy is still in the tank. What to do?

A solution being considered is to create "negative interest rates." Sounds logical, doesn't it? If low interest rates have kept the economy from crashing but haven't fixed it, surely, negative interest rates can only be more positive.

Jun 09 07:27

A parallel Chinese financial order

I have commented before about China's dissatisfaction with the global monetary system. China is not an obstructive power. It is, in its way, a committed member of the current economic order. It has strong support at the UN. But it is hedging too, working assiduously to create alternative financial systems to the established ones.

Jun 08 09:13

BOYCOTTING THE BOYCOTTERS

Blacklisted by the `Jewish Community’ over Israel, the Shondes Take their Stand

Jun 08 05:58

New head of European conservatives dismisses Cameron's EU demands

The new head of the biggest group of conservatives in the European Parliament dismissed on Saturday demands by British Prime Minister David Cameron to put the brakes on European integration.

Manfred Weber, the new chairman of the European People's Party (EPP), also told a German paper that the group still backed its candidate Jean-Claude Juncker to be the next Commission president despite opposition from Britain.

Jun 08 05:57

Martin Rowson on D-day and the European Union - cartoon

Jun 07 16:05

90% Of Gazprom Clients Have "De-Dollarized", Will Transact In Euro & Renminbi

Following Obama and Putin's "caught on tape" meeting Vine'd by the French President, we can't help but wonder if the Russian leaders comments were something akin to "this is not over yet." With "De-Dollarization" efforts already broadly under discussion, ITAR-TASS reports that Gazprom had signed additional agreements for clients to switch from dollars to euros and renminbi, "nine of ten consumer had agreed to switch."

Jun 07 07:39

IMF wants Barbados to take urgent action

THE INTERNATIONAL MONETARY Fund (IMF) is sounding a note of urgency over Barbados’ economy and calling for fiscal consolidation post-haste.

Though admitting that Government had implemented most of its budgetary measures, a team from the Washington-based IMF left Barbados yesterday stressing the need for follow-up to ensure that those measures produce material results in the near term.

Webmaster's Commentary: 

This follows a three-notch downgrade by Moody's. Barbados, while exporting some products such as rum, is heavily dependent on tourism, and tourism is down across the board both from the economy and from TSA abuses.

Jun 07 06:43

US military intrusions 'ineffective, shameful': Analyst

Americans are “fed up” with the US military’s “foreign intrusions” in other countries, a military analyst in New York says, calling Washington’s aggressive foreign policy “ineffective and shameful.”

“The American people are expecting us to get out of these foreign intrusions, we can’t afford them, we’ve not been successful with them,” Michael Burns told Press TV on Wednesday.

“It’s an embarrassment, it’s a shame on the traditional American policy,” Burns said. “The American people are just chagrined and shamed over the ineffectiveness of our intrusions into other people’s business.

Jun 07 06:40

New neocon bill: designed to protect Ukraine or to promote business interests of US fracking firms?

A bill designed to counter non-existent “Russian aggression” envisages allocation of hundreds of millions of dollars on military needs. But the military are not its only beneficiary: US fracking firms, facing enormous criticism in the West, are to start expansion to the Eastern Europe under the guise of making post-Soviet states independent of Russian gas supplies. Some critics have already labeled the bill, sponsored by neocon senators, a “personal enrichment law”.

Jun 06 07:32

The Good And The Not- So-Good News About US Jobs In One Chart

Jun 06 07:25

Half The Country Makes Less Than $27,520 A Year And 15 Other Signs The Middle Class Is Dying

If you make more than $27,520 a year at your job, you are doing better than half the country is. But you don’t have to take my word for it, you can check out the latest wage statistics from the Social Security administration right here. But of course $27,520 a year will not allow you to live “the American Dream” in this day and age. After taxes, that breaks down to a good bit less than $2,000 a month. You can’t realistically pay a mortgage, make a car payment, afford health insurance and provide food, clothing and everything else your family needs for that much money.

Webmaster's Commentary: 

Since the beginning of outsourcing of manufacturing in the 80s, there has been a steady decline in the standard of living for far too many Americans, and a staggering number of American children live in poverty right now.

Do not think for a moment that this is anything but deliberate. Traditionally, protest movements have come from the middle class; eliminate the middle class, and you have very little in terms of protests against the government, coupled with a dependence on it, so that people do not dare question what the government is doing at any given moment.

Jun 06 06:55

Stockman - The Military Industrial Complex & Total Collapse

Eric King: "If the fighting continues in Ukraine, is it just going to continue to be a stalemate over there?"

Stockman: "It could well devolve into a full-fledged civil war, and that would be really unfortunate for the people. ... That is the result of the constitutional and political crisis that was provoked last November and December, not by Putin and the Russians, but by the (U.S.) State Department and the CIA and the so-called non-governmental organizations that are swarming all over eastern Europe trying to stir up trouble. It’s an indication that what I call the military-industrial complex, this warfare state with all the spy agencies and this massive war machine that we have, is a dangerous thing to keep in being. We don’t need it. It should be demobilized. It should be dramatically reduced so that the people who operate it aren’t tempted to start stirring up trouble."

Jun 06 06:53

Bilderberg Authoritarianism Destroys Humanity

Knowing the accuracy of historical reality is difficult, but accepting the truth in that chronicle is almost impossible for most people to accept. This reluctance to deal with the stark and calculated obliteration of societal freedom is the ultimate curse of the human condition. The denial of the authoritarian plan by elites like the Bilderberg cabal is the equivalent of Satan's greatest lie, convincing us he does not exist. Well, the days of casting the smear of conspiracy over any reporting on the secret and hidden conclave of global manipulators, is officially over.

Jun 06 06:23

US Corporations Dump Dollar for Chinese Renminbi to Buy Imports

The U.S. dollar is being increasingly dropped as the currency for settling international trade. But perhaps the latest trend provides the most startling evidence yet that the dollar is doomed as the world reserve currency.

The Financial Times reported today that U.S. corporations are using the Chinese renminbi to buy imports over three times more than they had the previous year:

Jun 05 13:33

More On China's "Missing Commodity" Scandal: Fallout Spreads As Banks Get Involved

While we have warned about the problem with near-infinitely rehypothecated physical/funding commodities/metals, be they gold or copper, many times in the past, and most recently here, it was only yesterday that China finally admitted it has a major problem involving not just the commodities participating in funding deals - in this case copper and aluminum - but specifically their infinite rehypothecation, which usually results in the actual underlying metal mysteriously "disappearing", as in it never was there to begin with.

Jun 05 10:27

Scary 1929 market chart gains traction

There are eerie parallels between the stock market’s recent behavior and how it behaved right before the 1929 crash.

Webmaster's Commentary: 

"Just a coincidence. Really. Everything is fine. Fine, fine, fine, fine, FINE! Wanna see me work out some more?" -- Official White Horse Souse

Jun 05 10:00

The Lives of America's Homeless

"We start every interview by asking people to say their name, their age, and where they slept last night."

That's how Margaret Miles describes a project she directs at St. Stephen's Human Services in Minneapolis that is documenting the stories of homeless people across the state of Minnesota. Begun in 2008, the project has collected more than 600 oral histories.

Webmaster's Commentary: 

More of Lloyd Blankfein doing "God's work."

Jun 05 08:54

American gas won't save us, say EU leaders

Jun 05 07:43

A parallel Chinese financial order

The Financial Times ran a front page piece last Monday claiming that China has ordered a ban on state-owned companies using Western management consulting companies. It is alleged by senior Chinese sources that 'foreigners use their consulting companies to find out everything they want about our state companies'. Beijing's solution will be its usual kind of import-substitution strategy, the 'setting up (of) a team of Chinese domestic consultants who are particularly focused on information systems in order to seize back this power from the foreign companies'.

I'm forever hearing gripes about consultants leaking secrets and transferring knowledge between clients. But this is a far more serious charge, and the insinuation is clear. When China is accused of pursuing commerce backed by shadowy state espionage, it will throw the book right back.

Jun 05 07:26

ECB cuts deposit rate below zero in historic move

The European Central Bank lowered its deposit rate to -0.10% as the continent battles deflation after many failed monetary policy attempts.

Webmaster's Commentary: 

When you have money in a bank savings account, and the interest paid on that account is lower than the rate of inflation, you are losing real value and purchasing power even if the balance seems to be growing. Many people are seduced by the growing numbers and keep their money in that savings account even though they are suffering real economic losses.

Now things have changed. The longer you keep your money in those European savings accounts, the smaller the balance will be. The EU will likely impose capital controls to prevent bank runs as savers close their accounts and convert the funds into physical silver and gold.

The reason there are so many "failed monetary policy attempts" is that nobody wants to acknowledge the deep dark secret of private central banking. Which is that when you allow a privately-owned central bank to issue all of the public currency as a loan at interest, the debt grows faster than the available money supply. More money is owed to that privately-owned central bank than actually exists. This is a deliberately designed system to trap a nation and its people in unpayable debt, to enslave them to the will of the bankers, and over time, through the process of defaults, transfer the hard assets of the nation and the people into the pockets of the bankers through "Austerity" and "privatization." And all the bankers needed to pull off this scam was paper, ink, and typing numbers into a computer keyboard! But no government dares admit to their people that the banking system they are forced to use is a deliberate tool of enslavement. So they attempt "policies" to make it look like they are trying to fix the problem, but without addressing the root cause.

Jun 05 07:15

Days Before Obama Announced CO2 Rule, Exxon Awarded Gulf of Mexico Oil Leases

On Friday May 30, just a few days before the U.S. Environmental Protection Agency announced details of its carbon rule proposal, the Obama Administration awarded offshore oil leases to ExxonMobil in an area of the Gulf of Mexico potentially containing over 172 million barrels of oil.

The U.S. Department of Interior‘s (DOI) Bureau of Ocean Energy Management (BOEM) proclaimed in a May 30 press release that the ExxonMobil offshore oil lease is part of “President Obama’s all-of-the-above energy strategy to continue to expand safe and responsible domestic energy production.”

Secretary of Interior Sally Jewell formerly worked as a petroleum engineer for Mobil, purchased as a wholly-owned subsidiary by Exxon in 1998.

Dubbed a “Private Empire” by investigative reporter Steve Coll, ExxonMobil will now have access to oil and gas in the Alaminos Canyon Area, located 170 miles east of Port Isabel, Texas. Port Isabel borders spring break and tourist hot spot South Padre Island.

Jun 05 07:00

BRICS nations hope to bankroll a changing world order

After more than six decades of dictating development policy in much of the emerging world, the Western-led International Monetary Fund and World Bank may soon have some competition.

The BRICS nations — Brazil, Russia, India, China and South Africa — are reportedly close to finalizing their long-awaited development bank and currency reserve, each valued at $100 billion, in what has been billed as a historic challenge by the world’s emerging economies to a global financial architecture that has been dominated by the U.S. and Western Europe since its post–World War II inception.

Jun 05 06:55

How taxpayers subsidized Walmart execs' pay

While many of Walmart's (WMT) workers rely on food stamps and other government aid to make ends meet, its top eight executives are living better, thanks in part to $298 million in tax-deductible "performance pay" during the past six years.

Jun 05 06:09

US employers plan to cut payrolls by 52,961 in May, up from April: Challenger

Job cuts climbed to the highest level in more than a year, as U.S.-based employers announced plans to reduce payrolls by 52,961 in May, according to a report from Challenger, Gray & Christmas.

Jun 05 05:25

This New Libor 'Scandal' Will Cause A Terrifying Financial Crisis

The vastly worse Libor “scandal” that I am referring to is the fact that the Libor has stayed at record low levels for the past half-decade, which is helping to fuel a massive economic bubble around the entire world that will end in a devastating financial crisis that will be even worse than the Global Financial Crisis. Instead of causing a few tens of billions of dollars worth of losses like the Libor rate-fixing scandal, the “Libor Bubble” will gut the global economy by trillions of dollars.

Webmaster's Commentary: 

Every single person involved in this swindle should be cooling their heels in a prison for a long time.

But given that the financial markets do not eat their own, I seriously doubt that anyone involved in this mess will actually do time.

Jun 05 05:13

Poverty Up 30.5% for Americans 18 to 64 Since LBJ Declared War on Poverty

The percentage of 18- to 64-year olds who live below the poverty level has increased 30.5% since 1966, two years after Lyndon Johnson declared the War on Poverty, according to the latest data from the U.S. Census Bureau.

“We have declared unconditional war on poverty. Our objective is total victory. I believe that 30 years from now Americans will look back upon these 1960s as the time of the great American Breakthrough toward the victory of prosperity over poverty,” said then-President Lyndon Johnson in 1964.

Webmaster's Commentary: 

Ever noticed that whenever this government declares "war" on some social ill, that the problem gets worse, and not better?!?

Jun 04 15:43

Renminbi use surges in home of US dollar

It is the monetary equivalent of what Chairman Mao called “bombarding the headquarters”. China’s renminbi is rapidly displacing the US dollar as a trading currency not only in Asia and Europe but now also in the US home market.

The value of renminbi payments between the US and the rest of the world rose by 327 per cent in April this year from the same month a year ago (see chart) as more US corporations switched to using the Chinese currency to pay for imports from China, according to data from SWIFT, the international currency settlement firm.

Webmaster's Commentary: 

That squishy sound you hear is the owners of the Federal Reserve collectively messing their pants!

Jun 04 13:19

Central banks and a global soft default: Current interest payments on public debt now exceed $415 billion per year. In 2000 $1 trillion in Fed debt was held by foreigners while today it is up to $6 trillion.

Global central banks are fully addicted to the opiate of debt. The financial system has created a rentier class that chases investment yield even when the economy isn’t necessarily growing. Think about that for a second. Why should someone expect a guaranteed return at any point in an economic cycle if the real economy is actually contracting? The U.S. for example while trying to play the role of responsible manager of debt is going full throttle when it comes to debt issuance. We have a spending, revenue, and financial system problem in the way incentives are structured.

Jun 04 12:59

Data Discrepancies in ObamaCare Signups Could Affect 2 Million People

More than 2 million people who got health insurance under President Barack Obama's law have data discrepancies that could jeopardize coverage for some, a government document shows.

About 1 in 4 people who signed up have discrepancies, creating a huge paperwork jam for the feds and exposing some consumers to repayment demands, or possibly even loss of coverage, if they got too generous a subsidy.

Jun 04 10:26

U.S. Hyperinflation Warning

Hyperinflation (i.e. the U.S. dollar going to zero) is not a “possibility” for the U.S. economy. Rather, it is an absolute certainty. Indeed, as was clearly demonstrated in a previous commentary, the U.S. dollar is already worthless, based upon three, distinct analyses of the dollar’s fundamentals.

This future destiny of the dollar is also graphically depicted, in one of the Federal Reserve’s own charts:

Jun 04 09:32

Elizabeth Warren and Thomas Piketty: "Wealth Does Not Trickle Down... It Trickles Up."

Both issues show clearly that 'we have a rigged system, where a handful are able to reap benefits at the cost of everyone else.'

Jun 04 09:04

1 in 5 Children Live in Poverty in U.S.

One in five children under age 18, or 21.3%, are living in poverty in the United States, according to the latest data from the U.S. Census Bureau.

Webmaster's Commentary: 

This is insane, stupid, and deliberate on the part of the US Federal government.

Because the more a people are dependent on government aid, the more they will not question a government when it is doing something extraordinarily morally wrong.

Jun 04 08:50

Government Treated Boycott As Terrorism

4,000 pages [of documents] obtained by the Partnership for Civil Justice Fund [through Freedom of Information Act requests] reveal that Fusion Centers and their personnel even conflate their anti-terrorism mission with a need for intelligence gathering on a possible consumer boycott during the holiday season. There are multiple documents from across the country referencing concerns about negative impacts on retail sales.

Jun 04 08:45

Half of Americans can’t afford their house

Over half of Americans (52%) have had to make at least one major sacrifice in order to cover their rent or mortgage over the last three years, according to the “How Housing Matters Survey,” which was commissioned by the nonprofit John D. and Catherine T. MacArthur Foundation and carried out by Hart Research Associates. These sacrifices include getting a second job, deferring saving for retirement, cutting back on health care, running up credit card debt, or even moving to a less safe neighborhood or one with worse schools.

Webmaster's Commentary: 

This push to impoverish the American middle class is no accident; we have seen this coming from the 80s, where well-paying jobs are outsourced, and much of the work remaining is given to illegal immigrants, where wages get pushed far down from what should be the norm.

Jun 04 08:21

War is a Banker Racket, Explained in One Photo

No additional commentary necessary.

Jun 04 07:07

The Next Shot Has Been Fired at Your IRA

It’s no secret that governments strapped for cash commonly turn to plundering retirement savings. They are a juicy, irresistible, low-hanging fruit.

In recent years, it’s happened in some form in Argentina, Poland, Portugal, and Hungary, just to name a few countries. The truth is that it could happen in any country drowning in debt and financial troubles—the US included.

It’s usually accomplished by forcibly converting retirement assets into government bonds under the guise of helping people manage their risk.

Jun 04 07:05

Fornicalia makes a “budget whoopsie” of $31.7 BILLION DOLLARS

Further: controller John Chiang is running for State Treasurer. Fornicalia’s election is today.

A summary of the “mistakes”:

Understating some federal trust fund revenues and expenditures by $7.7 billion.
Overstating state general fund assets and revenues by $653 million.
A reporting error that understated a public building construction fund by $9.1 billion.
Overstating by $8 billion the California State University system’s bond debt.
Posting a deferred tax-revenue figure as $6.2 billion when it was actually $6.2 million.

Those mistakes and others were so glaring, auditors said, that they should have been caught.

Webmaster's Commentary: 

"That's okay; the people will gladly cover that $30 billion goof. After all, they hardly complained about the trillions we took from them to give to the banks, so the banks could loan it back to them at interest!" -- Official White Horse Souse

Jun 04 06:38

Bilderberg’s New World Order plot hits Iran-Russia-China wall

Every year, the world’s most powerful people meet in secret. Their agenda: total world domination. Big media observe a near-total blackout.

It sounds like dystopian science fiction, or a conspiracy theorist’s worst nightmare.

The strangest part is that it’s true. The 2011 destabilization of Syria, the 9/11/2008 Goldman-Sachs-led controlled demolition of the world economy, and probably even the 9/11 false flag events were all plotted or okayed by the Bilderbergers.

Jun 04 06:25

The U.S. Dollar Will Collapse When This Upcoming Event Happens

…If we want to better understand the answer to the elusive question of “When will the fiat US dollar collapse?”, we have to watch the petrodollar system and the factors affecting it….This is critically important, because once the dollar loses this coveted status…the destruction of the dollar is going to wipe out the wealth of a lot people, and that will cause political and social consequences that will likely be worse than the financial consequences.

The above are edited excerpts by Nick Giambruno (InternationalMan.com) from his original article* entitled Timing the Collapse: Ron Paul Says Watch the Petrodollar.

Jun 03 11:54

America : Freedom to Fascism

Jun 03 10:48

Renminbi (RMB) Yuan Clearing Bank To Open In London

A RMB Yuan (CNY) clearing bank will be officially appointed in the United Kingdom (UK) in June, said Mark Boleat, policy chairman for the City of London Corp, in an interview at the weekend.

“There will be a clearing bank in London. In due course, there will be an announcement,” Mr. Boleat said. The news will be an endorsement for London’s efforts to become an offshore yuan center. Other European financial centers in the race to become a Yuan center include Frankfurt, Paris, Switzerland and Luxembourg.

An official clearing bank facilitates efficient clearing of offshore Renminbi transactions, achieved through the appointed bank’s direct cooperation with the People’s Bank of China (PBOC) , the country’s central bank.

Mr. Boleat said having a clearing bank in London will act as a signal for London’s growing Yuan activities, although activities are already cleared through many commercial banks’ own channels.

Webmaster's Commentary: 

Looks like the US petrodollar is on its way out.

And unfortunately, the US government is apt to think that war, sooner rather than later, with China, is preferable to allowing this to happen.

Jun 03 10:29

European Reassurance Fund: Obama Said to Unveil $1 Billion European War Chest

U.S. President Barack Obama plans to announce a $1 billion fund to help boost defensive capabilities of European allies shaken by Russia’s annexation of the Crimean peninsula from Ukraine, according to a U.S. official.

The “European Reassurance Fund” may be unveiled by Obama as soon as today in Poland during his visit there, according to the official, who asked not to be identified discussing the move before the announcement.

The money will be contained in the Obama administration’s fiscal 2015 warfighting request — known as the Overseas Contingency Operations Fund — that will be released this month, the official said. That’s the pool of money used to bankroll U.S. military efforts in Iraq and Afghanistan.

Webmaster's Commentary: 

Mr. President, forgive me, but ...HAVE YOU GONE ABSOLUTELY BARKING MAD?!?

Sir, I would like to politely remind you that this money is not your money to spend; it is the money, collected from our taxes, which should be going to fix the economy right here the United states, which is broken, in large degree, because of these immoral and illegal wars.

Please show me, by any military metric possible, how the US has "won" in its invasion and occupation of Iraq; then, please show me how, 13 years on, we have "won" in Afghanistan.

Mr. President, I am waiting, patiently, for your response.

Your silence, Mr. President, is deafening, because there is no military metric by which you can characterize either military misadventure as a victory.

You know full well that Russia has no designs to invade Europe. This is simply an attempt to ratchet up the tension against Russia, as the prelude not to a cold war, but a shooting war, to attempt to keep the petrodollar as the reserve currency.

Jun 03 10:07

Bankers are Behind the Wars

Former managing director of Goldman Sachs – and head of the international analytics group at Bear Stearns in London (Nomi Prins) - notes:

Throughout the century that I examined, which began with the Panic of 1907 … what I found by accessing the archives of each president is that through many events and periods, particular bankers were in constant communication [with the White House] — not just about financial and economic policy, and by extension trade policy, but also about aspects of World War I, or World War II, or the Cold War, in terms of the expansion that America was undergoing as a superpower in the world, politically, buoyed by the financial expansion of the banking community.

***

Webmaster's Commentary: 

People are catching on!

Jun 03 07:32

I-495 bridge closed because of tilting columns

Delaware officials on Monday ordered the emergency closure of the Interstate 495 bridge over the Christina River in Wilmington after discovering that four support columns are tilting.

The 4,800-foot bridge normally carries about 90,000 vehicles a day on I-495, which diverts traffic around the city of Wilmington and toward the Port of Wilmington. The route parallels Interstate 95, which runs through downtown Wilmington.

"We understand that there will be a significant impact to the traveling public," said state Transportation Secretary Shailen Bhatt.

Webmaster's Commentary: 

So, Obama can send millions of dollars to the Junta in Kiev to murder Ukrainians, but lets the critical infrastructure of the US rot.

Jun 03 07:19

Russian Roulette – Derivative Style

Total face value of unregulated derivative contracts is something around 1,000 Trillion dollars – depending on who is counting and who is lying.

Banks (Goldman, JP Morgan, Deutsche Bank, etc.) sell these contracts because they generate huge commissions and probably other long-term profits.

Wall Street banks poured mega-bucks into DC lobbyists to keep the derivative game running with minimal regulation and oversight. Obscene profits, not the public good, are the reason.

Jun 03 06:54

Here’s What 60 Minutes Didn’t Tell You About the F-35

The millions of viewers who tuned into 60 Minutes Sunday may have gotten the impression that, despite being billions over budget and almost a decade behind schedule, the F-35 Joint Strike Fighter is ultimately necessary to maintain U.S. air superiority. That’s an unsurprising conclusion, given that all of the individuals interviewed in the story work either for the federal government or for Lockheed Martin, the primary contractor for the F-35. 60 Minutes’ producers broke a basic lesson of Journalism 101 when they failed to interview anyone who would tell the other side of the F-35 story.

Jun 03 06:52

Steen Jakobsen: Expect A 30% Stock Market Correction in 2014

Steen agrees that central banks have largely failed in their misguided attempts to boost growth via trickle-down programs. Pretty much all the benefits of the recent years of money printing have gone to the upper echelons, with the true engines of growth and jobs -- small to medium sized enterprises (SMEs) -- getting very little.

Webmaster's Commentary: 

I don't know about you, but I am tired of being "trickled" on by the money-junkies!

This article skirts around the real problem. The system of allowing a privately-owned central bank issue all of the public currency as a loan at interest, by design, always creates more debt than money with which to pay that debt. No matter how hard people work, no matter how much they sacrifice, this system is deigned to enslave people and nations with unpayable debt and transfer the real assets into the pockets of the bankers, all in exchange for paper with colored ink on it!

Jun 02 13:20

Retired American Airlines workers who took pay cut after 9/11 lose promised privileges

After 9/11 many American Airlines workers took a 35% pay cut to help salvage the nose-diving company. In exchange, workers were promised better health, retirement and flying benefits, but these promises have not been kept.

Jun 02 12:45

Feds Plan to Seize Financial Records of US Mortgage Borrowers

The Federal Housing Finance Agency and the Consumer Financial Protection Bureau are planning to seize financial records on mortgage borrowers for a new federal database.

Jun 02 09:47

Debt Collectors Have Figured Out A Way To Seize Your Wages And Savings

People with overdue bills have long complained of harassment from debt collectors, from late-night phone calls to frightening in-person visits. Now it appears the industry has found far more troubling strategy: Filing lawsuits against debtors -- often, consumer advocates say, on the theory that they won't ever show up to court to defend themselves.

The consequences are dire when the debtors don't appear in court. A judge can put a lien on someone's home, garnish wages, even freeze bank accounts -- all without a person ever getting a chance to fight their case. And at times, collectors file suit in error. Consumers interviewed for this story described cases where they were never told they were being brought to court, or were sued for debts on credit cards they never had.

Webmaster's Commentary: 

You've got to watch your credit like a hawk, and if there is a disputed bill, put the information about why you don't owe the money, or have already paid, in writing to the company demanding payment, and send it certified, where someone has to sign for it.

Jun 02 08:52

Is the Market Crazy? Treasurys Are Screaming Crisis While Stocks Yawn

One critical gauge of how fair and efficient a market is resides in the degree to which it reflects the composite wisdom of all participants. A rigged market, for example, reflects the composite wisdom of just those doing the rigging since they are privy to information that is not shared with all market players.

On March 30, bestselling author Michael Lewis appeared on 60 Minutes to summarize the findings in his newest book, Flash Boys, as follows: “stock market’s rigged.” Michael Lewis was talking about stock market manipulation by high frequency traders.

Increasingly, the U.S. bond market is delivering almost the same message as Michael Lewis. The U.S. Treasury market, which is experiencing a flight to safety (that suggests a slowing economy, lower corporate earnings and thus a lower stock market in the future) is essentially saying that the current composite wisdom of the stock market is either nuts or the market is, indeed, rigged.

Jun 02 08:00

Detroit's creditors want entire art museum collection to be fair game

Creditors in Detroit’s municipal bankruptcy have engineered a new appraisal aimed at putting the Detroit Institute of Arts' entire collection in play as a possible chip to maximize the amount the city will be obligated to ante up for debt repayment.

The Detroit News reports that, at some creditors’ behest, the city’s bankruptcy managers have begun trying to place a value on the museum’s entire 66,000-piece collection. That’s quite an escalation from a previous appraisal of only about 1,700 works that the DIA had bought with city funds.

Webmaster's Commentary: 

Remember: this is the results of decades of mismanagement by the City of Detroit.

There are a number of people who have, literally, made out like bandits, while stripping this city of its assets, and should, rightly, be cooling their collective heels in jail for what they have done.

Jun 02 06:42

Tony Blair 'not seeking European leadership role'

He acknowledged the EU's federalist origins no longer held validity, and the European public still believed in the nation state, adding that most EU leaders wanted Britain to remain in the EU.

Webmaster's Commentary: 

Skip the blather about Tony and go right to the comments!

Jun 02 06:41

Renowned Israeli Economist Predicts Economic Catastrophe for Israel

As with everything concerning this subject, there is a propaganda “line” that Israel-advocates sell the world. First, there was the pioneer nation that made the desert bloom, turning it into a modern society. Lately, it’s become the “start-up nation.” This myth sells an Israel full of technical geniuses coding their hearts out to bring innovation to the world. It suggests an Israel in tune with the democratic and entrepreneurial spirit of the rest of the world. Even a nation on the cutting edge of technological discovery. After all, if Warren Buffett invested $4-billion in one of Israel’s most profitable companies, doesn’t that prove the case?

Jun 01 13:19

Infrastructure Sticker Shock: Financing Costs More than Construction

The tunnels were billed to voters as a $25 billion project. That estimate, however, omitted interest and fees. Construction itself is estimated at a relatively modest $18 billion. But financing through bonds issued at 5% for 30 years adds $24-40 billion to the tab. Another $9 billion will go to wetlands restoration, monitoring and other costs, bringing the grand total to $51-67 billion – three or four times the cost of construction.

Jun 01 10:22

Spanish court makes first conviction of bankers since start of crisis

For the first time since the economic crisis began, a group of bankers has been found guilty of financial crimes in Spain.

But the former leaders of Caixa Penedès, a Catalan savings bank that received €915 million in state aid before being bought out by another bank, may be able to avoid going to jail despite their joint five-year conviction.

Instead, former director general Ricard Pagès Font and his three aides have promised to return the €28.6 million in retirement plans that they granted themselves before leaving the lender. Caixa Penedès was ultimately bought out by Banco Sabadell in October 2013 after receiving the bailout money.

Webmaster's Commentary: 

So imagine that you robbed a convenience store, and you offer to return the cash you stole if the judge lets you free.

How far do you think you would get with that?

Jun 01 08:39

Kyrgyzaltyn board chairman arrested in Centerra Gold case

Dilger Japarov, board chairman of Kyrgyzaltyn JSC, Kyrgyzstan's state-owned mining company, has been arrested on suspicion of an illegal dividend payment worth $200 million to Centerra Gold, RIA Novosti learned Thursday at the Prosecutor General’s Office of Kyrgyzstan.

Centerra Gold Inc. is a Canadian company that owns development licenses for the Kumtor deposit in Kyrgyzstan and a number of deposits in Mongolia, Russia, Turkey and the United States. Kyrgyzaltyn is a Centerra shareholder.

Jun 01 08:39

Poroshenko May Prove an Unpredictable Partner for Europe

Petro Poroshenko, for all the elusiveness of his nature, is the choice of the Ukrainian people. The Americans didn’t grow him in their political incubator; they just put a bet on the most likely winner and did so rather late – approximately in March 2014. The earlier favorites were people like Arseny Yatsenyuk and Vitaly Klichko. Statements made by US politicians did not have much influence on Ukrainian voters. More likely, the electorate was swayed by technologies invented by a Ukrainian spin doctor, Igor Gryniv (who was behind the electoral success of Viktor Yushchenko and still earlier planned the establishment of the Reforms and Order and Our Ukraine parties). First of all, he cleaned out the minds of Ukrainian voters and made them accept Poroshenko as a “new politician.” Next he began publishing his growing ratings and convinced the public that his client took the lead in the race. All that remained was to give voters a motivation for support and urge a first-round vote.

May 31 07:25

Detroit Cuts Off Water To Thousands Unable To Pay Their Bills

Thousands of the some 700,000 people who call Detroit home are currently living without access to water after the Detroit Water and Sewerage Department turned off their water because they hadn’t paid their bills.

As the shut-offs occur without warning from the department, residents don’t have time to fill buckets, sinks and tubs with water. This concerns human rights activists, who point out that as a result, “Sick people are left without running water and running toilets. People recovering from surgery cannot wash and change bandages. Children cannot bathe and parents cannot cook.”

It’s a practice that has been in place in Detroit for years, even though residents of the city plagued by high unemployment and a poverty rate of around 40 percent have struggled to keep up with water rates that have increased about 119 percent over the past decade.

Webmaster's Commentary: 

Clean water should be a basic human right.

That having been said, decades of completely dysfunctional policy has lead Detroit, once one of the most thriving cities in this country, to a completely shambolic collapse.

May 31 06:19

New federal database will track Americans' credit ratings, other financial information

As many as 227 million Americans may be compelled to disclose intimate details of their families and financial lives -- including their Social Security numbers -- in a new national database being assembled by two federal agencies.

The Federal Housing Finance Agency and the Consumer Financial Protection Bureau posted an April 16 Federal Register notice of an expansion of their joint National Mortgage Database Program to include personally identifiable information that reveals actual users, a reversal of previously stated policy.

FHFA will manage the database and share it with CFPB. A CFPB internal planning document for 2013-17 describes the bureau as monitoring 95 percent of all mortgage transactions.

FHFA officials claim the database is essential to conducting a monthly mortgage survey required by the Housing and Economic Recovery Act of 2008 and to help it prepare an annual report for Congress.

Webmaster's Commentary: 

How incredibly not thought through: to avoid being part of this database, people are not going to buy homes anymore, knowing what the surveillance costs will be.

Wow, the thinking in DC must be, let's trash this economy even more than it is already trashed, and really destroy the housing market in this country. Just.....brilliant!!

And forgive me, but wasn't the ability to actually buy a home, which one could afford, the bedrock of middle class American success?

Apparently, not any more, and by design.

May 31 06:15

Working More to Earn Less | Why the Poor Stay Poor | Learn Liberty

May 31 06:12

Argentina Reaches Agreement with Paris Club Preventing IMF Austerity

Argentina reached agreement with the Paris Club, a 19-member block representing some of the world's wealthiest countries, to repay nearly $10 billion in debts. The agreement ended a dispute that dates back to Argentina's 2001 default and ensures that there will be no International Monetary Fund (IMF) promoted austerity programs. Further, Argentina has renewed access to capital markets and strengthened its position within the G20.

May 30 10:58

Hungary Kills The Rothschild Banks: Ordered To Vacate Country.

Hungary is making history of the first order along with Iceland & Russia.

Not since the 1930s in Germany has a major European country dared to escape from the clutches of the Rothschild-controlled international banking cartels. This is stupendous news that should encourage nationalist patriots worldwide to increase the fight for freedom from financial tyranny.

Webmaster's Commentary: 

So now we will be told that Hungary hates us foir our freedoms, that they are an evil dictatorship oppressing their people, they have nukes, they have gas, yadda yadda yadda leading to an invasion.

May 30 10:50

Eurasian Economic Union nail in US coffin: Analyst

The formation of an economic union between Russia and two former Soviet republics will further weaken the waning hegemony of the United States, an analyst writes for Press TV.

May 30 10:46

BOMBSHELL - Federal Reserve PAYS NO TAXES!

(c) Exemption From Taxation. Federal reserve banks, including the capital stock and surplus therein, and the income derived therefrom shall be exempt from Federal, State, and local taxation, except taxes upon real estate.

[12 USC 531. Part of original Federal Reserve Act. Designated subsection (c) by act of Aug. 10, 1993 (107 Stat. 338).]

Webmaster's Commentary: 

READ IT AND WEEP!


Click for larger image

Keeping this at the top for a while!

May 30 10:40

The FED is printing trillions of dollars for free!

Webmaster's Commentary: 

Another find from the Federal Reserve website sent in by a reader. It basically shows the Fed printed over a Trillion dollars for free.

Which reminded me of Bernanke when asked, "Who got those loans" He wouldn't answer...

This comes hard on the heels of the revelation that the Federal Reserve is exempt from Federal, State, and Local taxes! The only tax they are required to pay is property taxes on the land their banks sit on.

May 30 10:18

Russia, Belarus, Kazakhstan sign ‘epoch' Eurasian Economic Union

Russia, Belarus, and Kazakhstan signed the historic Eurasian Economic Union which will come into effect in January 2015. Cutting down trade barriers and comprising over 170 million people it will be the largest common market in the ex-Soviet sphere.

"The just-signed treaty is of epoch-making, historic importance," Russian President Vladimir Putin said.

The troika of countries will cooperate in energy, industry, agriculture, and transport.

"In fact, we are shaping the largest common market in the CIS, with huge production, scientific and technological potential and enormous natural resources," the President added.

Citizens of Russia, Belarus, and Kazakhstan will have the right to work freely throughout the member states without having to be issued any special work permits, Putin said.

Over the last three years, trade within the Customs Union has increased by $23 billion, or nearly 50 percent. At the end of 2013, it stood at $66.2 billion.

Webmaster's Commentary: 

President Obama: what was that statement you made about making Russia "economically isolated", after its having taking back Crimea in a peaceful, free and fair referendum?!?

As reported at hotair.com on the 20th of March of this year, you made the following statement regarding US sanctions, and what they were going to do:

President Barack Obama says the United States is levying a new round of economic sanctions on individuals in Russia, both inside and outside the government, in retaliation for the Kremlin’s actions in Ukraine. Obama says he has also signed a new executive order that would allow the U.S. to sanction key sectors of the Russian economy. President Barack Obama said Thursday that he has signed an executive order giving the United States authority to impose sanctions on “key sectors of the Russian economy” if necessary in light of Russia’s “dangerous risks of escalation” in Ukraine. “These sanctions would not only have a significant impact on the Russian economy, but could also be disruptive to the global economy,” Obama warned. “However, Russia must know that further escalation will only isolate it further from the international community.”

Sir, forgive me, but... this doesn't look like Russia is feeling the heat from this alleged "economic isolation" one tiny bit. In fact, adding this to the huge energy deal it just inked in Shanghai, it looks like the Russian economy is going great guns while that of the US...contracted by one percent in the first quarter.

And sir, forgive me again, but do you EVER have any real idea of what you are doing geopolitically, and what the long term ramifications will be of actions you take?

And if an average American like me could have predicted that your moves against Russia would cause it to grow closer to former Soviet satellites and China, why the heck could you and your advisors not see that?

(I am having a palm toforehead moment at industrial strength velocity, upon remembering, and documenting this this.)

May 30 09:54

NYPD Raid On Homeless Shelter Draws Ire Of Advocates

Homeless advocates expressed anger this week at the prospect of more police raids on Manhattan homeless shelters, after NYPD officers last Friday arrested 22 people at the Freedom House on the Upper West Side.

DNAinfo reported last week that police performed background checks on all of the occupants of the Freedom House homeless shelter on the Upper West Side, and that five officers conducted a pre-dawn raid in which 22 people were arrested on outstanding warrants.

Donna Lieberman, executive director of the New York Civil Liberties Union, questioned the legality of the raids. "There's no justification for this," she told The Huffington Post in a statement. "Being homeless is not grounds for suspicion that someone has a bench warrant."

Webmaster's Commentary: 

I have to wonder what precisely these bench warrants were for, and if NYPD was "below quota" on their targeted number for bringing in alleged criminals for outstanding warrants.

But this is a true new low for them, and another demonstration of how homelessness per se is getting more and more criminalized every day in this country.

May 30 09:15

Russia invites Argentina to BRICS summit, ratifies support in Malvinas case

Foreign Minister Héctor Timerman met in Moscow with his Russian counterpart Sergi Lavrov who confirmed a formal invitation to Argentina to take part in a BRICS summit to be held in Brazil next month. The Kremlin also ratified its support to Buenos Aires in its long-standing dispute against the United Kingdom over the sovereignty of the Malvinas Islands.

According to official reports, Timerman “thanked very specially the ratification of Russia’s support” to Argentina which has been calling London to abide by the UN resolutions that urge both parties to sit at the negotiating table and discuss the sovereignty of the British-seized territories.

Webmaster's Commentary: 

Russia does not have to fire a shot to bring down the US economy, and by extension, this government.

IF all the BRIC nations were to drop the dollar simultaneously, the US dollar would die a sudden death, and the US economy could well collapse.

May 30 08:52

US Food Inflation Running at 22%

After five years of the federal government telling the public that despite a $3.5 trillion increase in monetary expansion, the inflation rate is below +2%, the Department of Agriculture (DOA) just warned the American public that the consumer price index for food is up by 10% this year.

The DOA tried to blame food inflation on the drought conditions in California, but last year’s drought was worse and food prices fell by -6%. The real problem is Federal Reserve monetary stimulus is stimulating inflation.

Webmaster's Commentary: 

One of the most strategic things in which you - and maybe some friends and/or family - could invest right now is a large freezer.

Because as badly as food prices have soared, it will be getting a lot worse, and soon. Having frozen food in a large freezer could help take the bite off coming food price inflation.

May 30 08:51

First Germany, Now Austria Demands An Audit Of Its Offshore Held Gold

First it was Germany, now another AAA-rated European country is starting to get concerned about its hard assets.

Overnight Bloomberg reported that following in Bundesbank's footsteps, Austria will audit its gold reserves located in the UK, which represent 80% of its total gold holdings. This gold reserve reviews held at Bank of England in London will be first conducted by external auditors, Christian Gutleder, a spokesman for the Austrian central bank, says via telephone.

As a reminder, Austria held 80% of its roughly 280 tons of gold in U.K., according to last annual report.

May 30 08:51

FLASHBACK 2012 - $6 Trillion In US Bonds Seized In Zurich, Said To Pose "Severe Threats To International Financial Stability"

Back in the summer of 2009, a peculiar story circulated when two Japanese individuals were arrested trying to smuggle $134 billion in US bonds into Switzerland from Italy. The story quickly died down after it was subsequently reported that the bonds were merely fake bearer bonds. Nobody heard much about it since then. Until today, when out of the blue we get a new story which blows that one out of the water. According to Bloomberg, "Italian anti-mafia prosecutors said they seized a record $6 trillion of allegedly fake U.S. Treasury bonds, an amount that’s almost half of the U.S.’s public debt."

Webmaster's Commentary: 

I am starting to think that the reason the NY FED's gold vaults are empty is they were forced to use the gold to cover the losses from the collapse of the 2008 mortgage-backed securities fraud.

May 30 08:50

FLASHBACK 2009 - Strange Inconsistencies in the $134.5 Billion Bearer Bond Mystery

Here’s yet another huge financial story that has been virtually blacked out by the US financial media. Although on the surface, this story appears to be a non-event, if we consider some of the released facts about this case, you will understand why I consider it to be a huge story. On June 8th, the Asia News reported the following story:

Webmaster's Commentary: 

Maybe they were real. Maybe Wall Street was shipping gold bearer bonds to those banks and governments in Europe to cover the losses from the collapse of the 2008 mortgage-backed securities fraud to keep the scandal from going public!

May 30 07:03

THE ELEVENTH MARBLE

Any five-year old child knows that if you put ten marbles into a tin can, you can only take ten marbles back out. No amount of wishful thinking, dreaming, or praying, will yield that eleventh marble from inside that can. That eleventh marble does not exist. It never did, and it never will. All discussions about the eleventh marble are the product of imagination. The eleventh marble is a fantasy.

Private central bankers issuing the public currency as interest-bearing loans operate on the belief that they can put ten marbles (dollars) into a tin can (the world) and magically get 11 marbles (dollars) back out. Thus, we may conclude that the bankers are dumber than five-year old children!

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May 30 07:01

THE FATAL FLAWS IN WALL STREET'S ECONOMIC THEORY

The first and largest flaw in the system is the Federal Reserve itself. Not actually a part of the government (the Federal Reserve is no more "Federal" than Federal Express), the Federal Reserve is a privately owned central bank which has been given the authority by the US Congress to create money, something which under any other circumstances would be called counterfeiting. Created by act of Congress in 1913 and signed into law by President Woodrow Wilson, the Federal Reserve now exercises the power to create money originally granted to the government itself under the Constitution. It might be argued that such a dramatic reassignment of constitutional powers should have required a Constitutional Amendment, but that is a discussion for another article. What is germane is that the Federal Reserve system is unstable because by design it creates more debt than it creates money with which to pay that debt.

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May 30 07:00

HOW YOU BECAME A SLAVE TO THE BANKERS!

Banks existed, of course. But they were kept off to one side, and use of the banks was optional for the people of the United States. It was possible to go through one's entire life without dealing with a bank if one chose to do so.

This system not only reserved the choice whether to use the bank to the people, but it was a stable system, because as debt increased, the people could voluntarily choose to stop borrowing from the bank! That was one of the most important freedoms won during the revolution; the freedom to say "no" to the banks!

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May 30 06:58

Awaken slaves! - How The Private Central Bank Ponzi Scheme Trapped And Destroyed America

Faced with the possibility that a new Amendment to transfer money creation from the US Government to a privately owned bank might fail and fail badly, and with the name "Third Bank of the United States" already leading to opposition to the plan, the plotters did an end run around the Constitution, passing the Federal Reserve act over Christmas vacation when the members of Congress opposed to the bill would be away. The name of the new bank was then changed to "The Federal Reserve." But, it is a private bank, no more "Federal" than Federal Express. From that moment on all currency would enter circulation as a loan at interest.

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May 30 06:54

Current Economic System is “Pure Fiction”

Former Bundesbank Vice-President Recommends Gold, Says Current Economic System is “Pure Fiction”

Anyone who is thinking clearly knows the economic system fostered by central banks is totally and completely out of control.

Repetitive rounds of QE, competitive currency debasement, interest rates at zero, and sponsorship of the internet bubble followed by the housing bubble, followed by the current stock market bubble is proof enough.

May 30 06:54

US Food Inflation Running at 22%

After five years of the federal government telling the public that despite a $3.5 trillion increase in monetary expansion, the inflation rate is below +2%, the Department of Agriculture (DOA) just warned the American public that the consumer price index for food is up by 10% this year.

The DOA tried to blame food inflation on the drought conditions in California, but last year’s drought was worse and food prices fell by -6%. The real problem is Federal Reserve monetary stimulus is stimulating inflation.

May 30 06:44

3 WTF Charts

Bad breadth, flaccid flow, and bonds bid - what could possibly go wrong?

May 29 17:17

Climate change 'Super Bowl' expected over new energy regulations

The United States is just days away from a clash over climate change being compared to the Super Bowl, a high-stakes contest destined to draw in attentive viewers from around the world.

The Obama administration is expected to announce next Monday the most significant action ever to curb greenhouse-gas emissions in the United States, in an end-run around a hostile Congress.

Four years after the collapse of a cap-and-trade bill, the White House is set to unveil long-awaited regulations on the energy sector, which is responsible for more than 30 per cent of U.S. emissions.

Webmaster's Commentary: 

I hate to say I told you so, but .... no, actually I rather enjoy it!

But when the Obama White House started pushing human-caused global warming in the middle of a record winter, I knew they were going to hit us with a carbon tax, and time was critical given the failure of Obamacare to produce a new stream of tax revenues.

May 29 14:52

Signs Of Fading Confidence In The Central Banking Premise

The US stock market indices are at all-time highs. Is confidence strong in both the US dollar and the stock markets? Or is it confidence that the Federal Reserve, via newly “printed” dollars, will support the market?

The global monetary system is based upon confidence in the full faith and credit of insolvent governments, but not on hard assets like gold or oil. That should encourage people to question the credibility and viability of fiat currencies.

There has been much discussion about the amount of gold that remains in western central bank vaults – real physical, unencumbered gold. Based on exports, Asian demand, shipments via Switzerland, imports into Hong Kong, and a dozen other sources, there is good reason, in my opinion, to question how much gold remains in London, New York, and Fort Knox. Confidence in the credibility of bankers, central banks, and governments is weakening.

May 29 13:18

China Demands Gold As Collateral For Zimbabwe Loans

China, as we noted here, is happy to provide the financing to turn Africa into Disneyland - Monorails and all - but there is one catch... the loans must be backed by gold as collateral. As The Source reports, China wants Zimbabwe to use its mineral proceeds to guarantee any future loans having already extended nearly $1.5 billion in the last three years to Harare’s ailing economy. Various minerals have been discussed to back the loans "but we feel gold is more stablee," Zimbabwe's Mines Minister noted. Of course, China is defending the demand, claiming "it’s in accordance with rules and regulations when granting any loan" and adding that "it doesn’t mean that we will use the collateral."

May 29 13:17

FLASHBACK 2011 - Missing: 8100 tons of gold. Please call 1-800-USTreasury if found.

Perhaps you’ve seen the stories this week about the $6.6 billion in one hundred dollar bills that the US Government managed to “lose” in Iraq back in 2003-2004. Apparently, as part of the Iraqi reconstruction effort, plane loads (C-130 Hercules to be exact) of palettes containing shrink wrapped 100 dollar bills were flown in. $22 billion in all. As the Pentagon is attempting to close the books on the operation this week, it was revealed that some $6.6 billion cannot be accounted for.

May 29 10:52

GDP contracts after US economy is battered by harsh winter

The US economy was battered even more than first suspected by the harsh winter, actually shrinking from January through March. But economists are confident the contraction was temporary.

Webmaster's Commentary: 

Just like they are confident that human-caused global warming is real and can only be stopped by a carbon tax!

May 29 10:37

Obama: American Exceptionalism Comes From Interventionism

Speaking today at the West Point commencement speech, President Obama put forward his foreign policy vision, which he described as “might doing right,” declaring that “I believe in American exceptionalism with every fiber of my being.”

Obama went on to insist that America is exceptional because of its “true leadership” position, and its constant intervention across the world to “affirm” international norms.

He went on to claim that the only people who would dare to question America’s unrivaled might on the world stage are engaging in “partisan politics,” and that large-scale 9/11-style attacks are less likely now because of America’s global power.

Webmaster's Commentary: 

A memo to President Obama: no, sir: these preemptive wars have left the United States morally, and financially, bankrupt.

As you well know, the American economy CONTRACTED in the first quarter of this year.

And sir, I would like to assure you of one thing: I am absolutely non-partisan because of how completely broken and thoroughly corrupt the American political system has become.

At the end of the day, I fully expect all politicians to do precisely whatever their corporate masters, who fund their election cycles, tell them to do, and the American people have become thoroughly irrelevant and expendable.

And Mr. President, about my cynicism: it has been well and truly earned, courtesy of the last several administrations.

May 29 10:06

U.S. economy shrank at 1 percent pace in first quarter

The US economy shrank for the first time in three years in the first quarter, underscoring its struggle to gain momentum nearly five years after exiting recession, data showed Thursday.

Economic output as measured by gross domestic product (GDP) fell at an annual rate of 1.0 percent in the first quarter, the Commerce Department said, sharply revising lower the initial estimate of 0.1 percent growth.

The Commerce Department’s revision was much worse than analysts expected; the consensus estimate was a 0.5 percent decline.

It was the second time the world’s largest economy has contracted since officially exiting severe recession in July 2009. GDP fell 1.3 percent in the 2011 first quarter.

Webmaster's Commentary: 

Anyone attempting to tell you that this economy is "recovering" is either off their meds...or are taking waaaay to much!

May 29 09:19

Try to Contain Your Laughter: Prince Charles and Lady de Rothschild Team Up to Talk About ‘Inclusive Capitalism’

Lady de Rothschild Speaks on Bloomberg News About the Inclusive Capitalism Conference

Now that the worldwide Occupy Wall Street protest movement has been beaten, pepper-sprayed, mass-arrested and hog-tied into submission; now that assorted financial luminaries have exhorted corporate media to stop giving air time to people calling bankers evil; it’s now safe for the 1 percent to take over the debate – or so the thinking goes in London.

Prince Charles, who lives in four mansions in England, Scotland and Wales, delivered the opening speech yesterday for a conference on “Inclusive Capitalism” hosted by Lady de Rothschild, wife of multi-billionaire Sir Evelyn Robert de Rothschild, in the heart of financial skulduggery, the City of London, Wall Street’s alter ego.

Webmaster's Commentary: 

You absoflippinglutely have got to be kidding me!!!!

Capitalism, as it is practiced by the West, guarantees the exploitation of many for the wealth of the very few, period, end of discussion.

May 29 08:33

Japanese Lawmakers Propose $6Bln Gas Pipeline From Sakhalin

In an attempt to cut Japan's energy costs after the Fukushima nuclear disaster, a group of 33 Japanese lawmakers will soon submit a project for review to build a gas pipeline between Japan and Russia’s Sakhalin Island, project leader Naokazu Takemoto told Bloomberg on Wednesday.

The construction of the 1350-kilometer pipeline from the most southern point of Sakhalin to Hokkaido and Honshu Islands, ending 150 kilometers away from Tokyo, could take 5 years and cost 600 million yen ($6 billion), according to the group's estimates.

The plan was discussed 10 years ago, but energy companies expressed little interest until the country faced the need for alternative energy sources after most of its nuclear reactors were put on stand-by following the disaster at the Fukushima plant.

May 29 08:31

Eastern energy pivot threatens the US dollar

The “Power of Siberia” is much more than a 30 year Sino-Russian gas/pipeline deal. Paying for the process accelerates the vogue to reduce dollar pricing. That, not the energy supply, will become the most acute threat to US economic hegemony.

May 29 08:31

The Pentagon moves to keep Nigeria locked down

The government of Nigeria has long been a tool of European and US corporations. In 2013, the Nigerian regime received $652 million in US foreign aid. Protests were launched all over the world, when Ken Saro Wiwa, an environmental activist, was executed by a military tribunal in 1995. The execution was blatantly done on behalf of Shell Oil, so much so that in 2009 $15.5 million was paid to the families of Wiwa and Shell's other victims in order to prevent a trial in a United States District Court.

When Nigerians held a general strike, demanding better economic conditions on January 9th, 2012, the result was brutal repression. Roads were blocked, curfews imposed, with at least 16 Nigerians killed. By the time the strike ended on January 15th, the military was patrolling the country, enforcing a ban on all protests of any kind.

May 29 08:29

Judges Approve USDA Confiscating Farmers' Harvests

Earlier this month the Ninth U.S. Circuit Court of Appeals ruled that the U.S. Department of Agriculture taking 47% of a farmer's harvest does not violate the Fifth Amendment's takings clause as long as the government aims to drive up crop prices. The May 9 decision was the latest absurdity in a decade-long legal battle pitting California raisin growers Marvin and Lena Horne against the USDA's outmoded raisin regulatory regime.

Webmaster's Commentary: 

We have millions of hungry Americans, and the USDA confiscates and destroys real food to drive prices up?

Does that make any sense at all?

May 29 08:27

Chasing Risk? This Market Won’t Be Kind to You

My stock screens have been displaying up signals over the past few days, but I’m still somewhat apprehensive about the most recent stock market rally—and you should be too.

The stock market appears to be edging higher again after the S&P 500 closed above 1,900 at another intraday high on May 23. And while there is some buying support on the stock market charts, I still question the sustainability of any strong upside moves at this time, given the lack of any new catalyst. The reality is that the absence of any leadership and continued concerns towards technology and growth stocks suggest the stock market remains vulnerable at this time.

Where I’m sensing the most risk continues to be the technology sector and small-cap stocks, despite some current relief buying.

May 29 08:20

All Wars Are Well Planned Banker Wars, including WWIII

War is a Racket by Smedley Butler is a famous speech denouncing the military industrial complex. This speech by two-time Congressional Medal of Honor recipient exposes war profits that benefit few at the expense of many. Throughout his distinguished career in the Marines, Smedley Darlington Butler demonstrated that true patriotism does not mean blind allegiance to government policies with which one does not agree. To Hell with war.

May 29 07:02

Bilderberg Agenda Revealed: Elite Desperate to Rescue Unipolar World

The 2014 Bilderberg meeting in Copenhagen, Denmark is taking place amidst a climate of panic for many of the 120 globalists set to attend the secretive confab, with Russia’s intransigence on the crisis in Ukraine and the anti-EU revolution sweeping Europe posing a serious threat to the unipolar world order Bilderberg spent over 60 years helping to build.

May 29 07:01

U.S. GDP Fell 1 Percent; First Drop In Three Years

Revising its early numbers for the first quarter of 2014, the Commerce Department says the U.S. economy shrank by 1 percent at an annualized rate. Last month, estimates of the quarter's gross domestic product had shown a small gain of 0.1 percent.

Government analysts blame the slump on "a significant decline in inventory investment," especially among car dealerships. They also say U.S. exports declined along with spending on housing and government programs.

Webmaster's Commentary: 

Remember when the government made the claim that a .1% increase in GDP meant the US was not in a recession? Remember how the corporate media proclaimed the joyous news throughout the land? Well, 1Q 2014 GDP actually did drop. So we ARE in a recession.

Investment is reported to have declined 12%, and US exports declined 10% ... in a single quarter! Most of that was in agricultural exports as foreign nations reject US GMO products.

May 29 06:22

Armenia seeks to join Eurasian Economic Union by June 15

Armenia’s President Serzh Sargsyan has called for signing a treaty on the country’s joining the Eurasian Economic Union till June 15, 2014.

A draft document has been prepared, Sargsyan said at a session of the Supreme Eurasian Economic Council on Thursday.

“I ask you to set a deadline for signing a treaty on Armenia’s joining the Eurasian Economic Union,” he said.

May 28 15:24

CCTV shows thousands of migrants storming border into Spanish enclave

CCTV footage shows hundreds of people forcing their way though razor wire barriers into Spain's North African enclave of Melilla, highlighting increasing pressure on a rare land based route into Europe for illegal migrants.

More than 1,000 stormed fences into the enclave and about 400 had managed to breach the border, the Spanish city's mayor Juan Jose Imbroda said in a radio interview.

Immigrants from all over Africa regularly attempt to cross the fences at Melilla and a second Spanish enclave along the coast, Ceuta.

May 28 10:24

IRANIAN BILLIONAIRE ‘SECRETLY EXECUTED’ OVER BIGGEST BANK FRAUD IN COUNTRY’S HISTORY

Mahafarid Amir-Khosravi, also known as Mansour Aria, was hanged at Tehran’s Evin prison on Saturday after being convicted of a scam that was said to have cost Iranian banks nearly £1.5 bn.

Alongside Khosravi, 39 defendants were convicted for fraud, with four others being sentenced to death.

Webmaster's Commentary: 

Of course, here in the more "civilized" United States, the government loots the people to cover the losses every time a fraud is revealed!

May 28 09:23

Exxon, BP Defy Obama; Extend Partnership with Russia

Several of the largest oil companies in the world are doubling down in Russia despite moves by the West to isolate Russia and its economy. ExxonMobil and BP separately signed agreements with Rosneft – Russia’s state-owned oil company – to extend and deepen their relationships for energy exploration. The U.S. slapped sanctions on Rosneft’s CEO Igor Sechin in late April, freezing his assets and preventing him from obtaining visas.

However, the sanctions do not extend to Rosneft itself, allowing Western companies to continue to do business with the Russian oil giant. ExxonMobil signed an agreement with Rosneft, extending its partnership to build a liquefied natural gas (LNG) terminal on Russia’s pacific coast. Known as the Far East LNG project, the export terminal will receive natural gas from Russia’s eastern fields as well as from Sakhalin-1, an island off Russia’s east coast. Rosneft announced the deal in a press release on its website on May 23.

Webmaster's Commentary: 

these "sanctions" are blowing up in the faces of the Obama Administration like bad trick cigars.

The ways in which they were engineered and written makes them completely unenforceable, short of a shooting war against Russia.

May 28 07:53

Quote Of The Day: Head Of Bank Of England Says Bankers Must Reassess "Sense Of Self"

Carney said public trust had been damaged by the behaviour of banks both before and after the financial crisis. He cited allegations that the Libor interest rate benchmarks and prices on the foreign exchange market were tampered with. "An unstable dynamic of declining trust in the financial system and growing exclusivity of capitalism threatens."

Webmaster's Commentary: 

Translation: "The jig is up, fellas; the public knows we are all crooks!"

May 28 06:34

US assembling elite special forces teams across Africa to counter Al-Qaeda

United States special operations forces are attempting to train and install small teams of elite counter-terror commandos in four African countries in a Pentagon program aimed at combating Al-Qaeda-affiliated factions, according to The New York Times.

Webmaster's Commentary: 

Those four nations just happen to have natural resources that the US needs to be sold ONLY for US dollars!

May 28 06:28

The Future Of Socialized Healthcare: “There Is No Better Predictor Than The VA System”

Economically and financially, the new law will bankrupt an already struggling middle class who has, in many cases, seen a four-fold increase in their monthly premiums. By all accounts, life for those people is going to change dramatically in coming years because as much as 15% of their income will now be taken from them by force in the form of what the U.S. Supreme Court has classified as a mandated tax.

For those with the ability to make those outrageous payments and deductibles each year, they have now entered a system run by the very same bureaucrats in charge of our country’s other government run health care programs.

To understand the future of socialized health care in America we need to look no further than the U.S. Department of Veterans Affairs.

May 28 06:27

The Shocking Real Reason for FATCA, and What Comes Next

After two experiments with central banking in the US failed to take root in the 1800s, anything associated with a central bank became deeply unpopular with the public.

So, the central banking advocates decided to try something new—a fresh branding strategy.

Rather than call their new central bank the Third Bank of the United States (the previous ones were named the First and Second Bank of the United States respectively), they decided to give it a vague and boring name that would conceal from the average person what it really was: a central bank. They chose the name “Federal Reserve” for that purpose.

Sep 07 08:37

SULLIVAN VERSUS UNITED STATES TRANSCRIPT - PDF

This is a transcript from a court case, Sullivan Versus United States, in which Judge James C. Fox openly admits in the court record (page 23 of this PDF) that the 16th Amendment on which the personal income tax is based was never actually ratified.

He then goes on to admit that the government and courts will treat it as if it were ratified, simply because they have gotten away with it for so long!

Webmaster's Commentary: 

Today, we are hearing that the Infernal Revenue Service has been targeting political dissidents to a far greater degree than was previously exposed. Going beyond merely delaying tax-exempt status for Tea-Party, Occupy, and conservatives in general, donors to GOP candidates like Mitt Romney have been hit with disproportionate numbers of audits.

All America is now aware that the IRS is acting illegally. After all, such political targeting was an article of impeachment against Richard Nixon. So the time has come to take the discussion to the next level. Is the IRS, clearly acting illegally, itself legal? and the answer is "no", it is not. The Constitution forbids direct non-apportioned taxation of the people. An earlier version of the Income Tax was struck down by the United States Supreme Court on those grounds.

The Federal Reserve (itself a clearly unconstitutional usurpation of the money-creation authority vested in Congress by the Constitution) and the IRS claim that the passage of the 16th Amendment allows an income tax, but there are several problems with that claim. First and foremost, the 16th Amendment failed ratification! The necessary 3/4 of the states did not ratify the Amendment. Requests for proof that this Amendment was actually ratified are ignored. The IRS considers their enforcement actions the only legal reply they are required to make. And judges in tax courts (who are funded from tax revenues) inevitably refuse to examine the issue and simply declare from the bench that the Amendment was ratified, a power and authority not granted to judges under the Constitution.

There is one notable exception to this judicial legerdemain, and that is judge James C. Fox, who stated quite clearly in the court record for Sullivan Vs United States that the 16th Amendment, on examination, failed ratification. Sadly, however, that was not a tax case, and the judge mentioned the non-ratification of the 16th Amendment as justification for the enforcement of laws that may not have legally been passed, but were presumed valid through long use (i.e. we got away with it this long, so why should we change it now).

Yet another problem with the 16th Amendment is the United States Supreme Court, which ruled in Stanton vs Baltic Mining that the 16th Amendment, even if ratified, did not actually grant any new tax authority to the US Government. For one thing the original Constitutional prohibition against a direct non-apportioned tax is still in effect because it was not explicitly repealed by the hastily-contrived 16th Amendment.

So here we are, with the IRS clearly breaking the law, acting illegally, for all America to see, which is why this is a great time for activists to take the public discussion to the next level and ask if the IRS itself, and its master, the Federal Reserve, are actually legal under the Constitution.

Sep 06 12:19

Sullivan Vs United States - Judge ADMITS 16th Amendment failed ratification

Webmaster's Commentary: 

Today, we are hearing that the Infernal Revenue Service has been targeting political dissidents to a far greater degree than was previously exposed. Going beyond merely delaying tax-exempt status for Tea-Party, Occupy, and conservatives in general, donors to GOP candidates like Mitt Romney have been hit with disproportionate numbers of audits.

All America is now aware that the IRS is acting illegally. After all, such political targeting was an article of impeachment against Richard Nixon. So the time has come to take the discussion to the next level. Is the IRS, clearly acting illegally, itself legal? and the answer is "no", it is not. The Constitution forbids direct non-apportioned taxation of the people. An earlier version of the Income Tax was struck down by the United States Supreme Court on those grounds.

The Federal Reserve (itself a clearly unconstitutional usurpation of the money-creation authority vested in Congress by the Constitution) and the IRS claim that the passage of the 16th Amendment allows an income tax, but there are several problems with that claim. First and foremost, the 16th Amendment failed ratification! The necessary 3/4 of the states did not ratify the Amendment. Requests for proof that this Amendment was actually ratified are ignored. The IRS considers their enforcement actions the only legal reply they are required to make. And judges in tax courts (who are funded from tax revenues) inevitably refuse to examine the issue and simply declare from the bench that the Amendment was ratified, a power and authority not granted to judges under the Constitution.

There is one notable exception to this judicial legerdemain, and that is judge James C. Fox, who stated quite clearly in the court record for Sullivan Vs United States that the 16th Amendment, on examination, failed ratification. Sadly, however, that was not a tax case, and the judge mentioned the non-ratification of the 16th Amendment as justification for the enforcement of laws that may not have legally been passed, but were presumed valid through long use (i.e. we got away with it this long, so why should we change it now).

Yet another problem with the 16th Amendment is the United states Supreme Court, which ruled in Stanton vs Baltic Mining that the 16th Amendment, even if ratified, did not actually grant any new tax authority to the US Government. For one thing the original Constitutional prohibition against a direct non-apportioned tax is still in effect because it was not explicitly repealed by the hastily-contrived 16th Amendment.

So here we are, with the IRS clearly breaking the law, acting illegally, for all America to see, which is why this is a great time for activists to take the public discussion to the next level and ask if the IRS itself, and its master, the Federal Reserve, are actually legal under the Constitution.

PLEASE REPOST THIS EVERYWHERE!

Jul 06 08:52

Spitzer is back! The man who was politically assassinated for his sub prime accusations in 2006 now says the FED is a ponzi scheme. He's right. Again.

Apr 06 14:03

Founder plans to give up Oaksterdam after raid

In some of his most extensive comments since the raid, Lee acknowledged that he was worried he could face major federal drug charges. It’s a risk he has lived with for many years, first as an underground pot grower and then as the leader of a serious legalization effort, which drew vigorous opposition from the federal government.

“I never wanted to be the quote unquote leader of the legalization movement,” he said in a telephone interview. “I saw myself as just one small soldier in a big war. But I look at it as a battlefield promotion.”

Apr 05 11:16

NIALL FERGUSON: This Is The Study That Shows Why The US Economy Is Doomed

A Harvard Business School study that Niall Ferguson pointed us to today shows the U.S. has fallen severely behind in terms of international competitiveness.

The study, from January, found that for Harvard alums personally involved in a company relocation decision, 57% said the decision "involved the possibility of moving existing activities out of the U.S."

Apr 05 11:03

Oaksterdam University Raid 'Payback' For California's Marijuana Legalization Effort?

The man who bankrolled California's closest shot yet at fully legalizing marijuana, Prop. 19, saw his Oaksterdam University cannabis college in Oakland raided by federal authorities yesterday.
And pot advocates are fuming.

The Drug Policy Alliance suggests the raid by the U.S. Drug Enforcement Administration and Internal Revenue Service might have served one possible goal:
"Payback" for the 2010 legalization effort that failed but made a good try of it. The ballot effort was backed by Richard Lee, the millionaire owner of Oaksterdam.

Apr 05 10:56

Greek Pensioner Commits Suicide in Sindagma Sq-Suicide Note

The occupation government of Tsolagoglou (reference to the Occupation govt of the ex-Defence Minister Tsolagoglou who became Quisling Prime Minister of the 3rd Reich) has erased essentially any possibility of my survival which was based on a decent pension which for 35 years, I alone (without the intervention of the state) had paid.

I am at an age which doesn’t give me the individual capacity for a dynamic intervention (without of course precluding that if one Greek took up arms-Kalashnikovs, the second person would be me) I cant find another solution from a decent end before I end up looking in the rubbish bins for food.

Apr 05 09:34

Today's Ebay Special - The Country Of Greece For Sale

Currently going for the modest price of $1,550 with 6 more days left in the auction, today's hottest Ebay special is the sale of the country of Greece.

Apr 05 09:31

Americans brace for next foreclosure wave

Half a decade into the deepest U.S. housing crisis since the 1930s, many Americans are hoping the crisis is finally nearing its end. House sales are picking up across most of the country, the plunge in prices is slowing and attempts by lenders to claim back properties from struggling borrowers dropped by more than a third in 2011, hitting a four-year low.

Webmaster's Commentary: 

Apr 05 09:13

The phony economic deception machine – JP Morgan Chase CEO earns $23 million in 2011 while 2.7 million foreclosures are filed in the US. GDP at record levels but employment figures down by 5.3 million from their peak.

The US economic and political system is doing an excellent job sealing off opportunities for millions that aspire to be part of the middle class. Many are starting to realize that the system is rigged in favor of large financial institutions and those with political connections. The idea of raw success based on talent can be thrown out the window with the corporate welfare generosity leveled at the too big to fail financial institutions.

Apr 05 08:38

The Second Foreclosure Tsunami Is Coming, And Is About To Kill Any Hopes Of A "Housing Bottom"

In what appears to be surprising news for some, Reuters has an article titled "Americans brace for next foreclosure wave" whose key premise is that "a painful part two of the [housing] slump looks set to unfold: Many more U.S. homeowners face the prospect of losing their homes this year as banks pick up the pace of foreclosures."

Webmaster's Commentary: 

Apr 05 08:36

U.S. Standard of Living Has Fallen More Than 50%: Opinion

Using the year 2000 as the numerical base from which to "zero" all of the numbers, real wages peaked in 1970 at around $20/hour. Today the average worker makes $8.50/hour -- more than 57% less than in 1970. And since the average wage directly determines the standard of living of our society, we can see that the average standard of living in the U.S. has plummeted by over 57% over a span of 40 years.

Apr 05 08:29

Elite Greed Causing 'Austerity Suicides'

Brit Dee, Contributor
Activist Post

Yesterday saw the obscene consequences of the corrupt financial and political elite's insatiable greed, as a 77-year-old Greek man publicly committed suicide outside Parliament in Athens. The man, named locally as Dimitris Christoulas, reportedly pulled out a handgun and shot himself in the head during rush hour, having shouted "I'm leaving because I don't want to pass on my debts."...

Apr 05 08:26

The Unsustainability of Incarceration

The money that states spend on prisons has risen at six times the rate of spending on higher education. Specifically in California, the state spends $8,667 per student per year. It spends about $50,000 per inmate per year.

Apr 05 08:05

NH Best Selling Author Maintains Ron Paul Only Presidential Candidate Telling America the Truth about America’s Economic Woes

Best-selling author Barry James Dyke, author of The Pirates of Manhattan and recently released sequel, The Pirates of Manhattan II: Highway to Serfdom maintains Ron Paul is the only candidate consistently telling Americans the truth about its finances and the role that the Federal Reserve has in America’s decline.

Apr 05 08:01

Food inflation seen back on the table as prices rise

The United Nations Food and Agriculture Organisation (FAO) will update its monthly Food Price Index on Thursday and the organisation says prices could rise more in the short and medium term as grain supply tightens and energy prices stay high.

"You can see prices in the near term rising even further," FAO's senior economist and grain analyst Abdolreza Abbassian told Reuters ahead of the index update.

High crude oil prices have fuelled the upward pressure on inflation since the start of this year. Consumer prices in the 17 nations sharing the euro were up 2.6 percent in March from a year ago, despite stumbling economy.

Webmaster's Commentary: 

I don't know how some families are making it, in terms of grocery prices.

The last time Mike and I left our local grocery store here on Oahu, I teased him, asking where the heck the caviar was we MUST have somehow, inadvertently, purchased to run up the bill so intensely.

However, in looking at what we brought home, (produce, some poultry, and some cream for coffee), it was obvious that everything has just skyrocketed in terms of food prices. The discounts from the "big box" stores help, but only a little.

If you can, even if you are doing it with small pots on a terrace, please try to get more self-sufficient with growing and preserving a little of your own food.

If there is any interruption in the flow of oil from any of the potentially nasty geopolitical confrontations which could take place in the near-term, that is going to jack up the prices on everything, big-time.

Apr 05 07:52

The Second Foreclosure Tsunami Is Coming, And Is About To Kill Any Hopes Of A “Housing Bottom”

what appears to be surprising news for some, Reuters has an article titled “Americans brace for next foreclosure wave” whose key premise is that “a painful part two of the [housing] slump looks set to unfold: Many more U.S. homeowners face the prospect of losing their homes this year as banks pick up the pace of foreclosures.”

Thank the robosettlement, where in exchange for a few wrist slaps, contract law was thoroughly trampled by America’s attorneys general, but far more importantly to the country’s crony capitalist system, the foreclosure pipeline was once again unclogged, and whether one does or does not have a legal title on a given house, the banks are now fully in their right to foreclose on it.

Webmaster's Commentary: 

No one in their right mind can look at numbers like this, and talk about "an American financial recovery in 2012" with a straight face.

Apr 05 07:49

Keeping the Slaves on the Plantation: Senate Says No Passport if You Owe Taxes

Eric Blair
Activist Post

CBS is reporting that Senate Bill 1813 that would "suspend passport rights for delinquent taxpayers" passed the Senate 74-22 on March 14th.

A bill authored by a Southland lawmaker that could potentially allow the federal government to prevent any Americans who owe back taxes from traveling outside the U.S. is one step closer to becoming law.

...The 'Moving Ahead for Progress in the 21st Century Act' or 'MAP-21' includes a provision that would allow for the 'revocation or denial' of a passport for anyone with 'certain unpaid taxes' or 'tax delinquencies'.

Apr 05 07:41

America: Freedom to Fascism - Director's Authorized Version

Apr 05 07:24

Tax Day Protests and Events 2012

PRESS RELEASE

For Immediate Release: April 5, 2012

Contact: Ruth Benn, NWTRCC Coordinator
800-269-7464 (718-768-3420) or nwtrcc@nwtrcc.org

“Tax Day” Antiwar Protests
Individuals Publicly Refuse to Pay Taxes for War

On April 19, 2012, two days after the April 17 tax deadline, peace activist and Gold Star Mother Cindy Sheehan will appear in court in Sacramento, California. The Justice Department, on behalf of the IRS, is seeking to discover why she hasn’t paid taxes in recent years. Sheehan has responded that “If the feds can give me my son back, I’ll pay my taxes.” She became a relentless peace activist following her son’s 2004 combat death in Iraq.

Apr 05 07:18

IMF CRIMES Result in 77-Year Old Gov’t Pensioner Commiting Suicide In Town Square – In Response Greeks Riot

The 77-year old Greek man who ended his life in the Town Square on Wednesday left the blame squarely on the shoulders of the Bankers, which includes Goldman Sachs (Mario Monti, their agent atop the Greek government), the Rothschilds and their criminal organization the IMF. The man left a heart-wrenching suicide note which read in part:

“The government has annihilated any hope for my survival and I could not get any justice… I cannot find any other form of struggle except a dignified end before I have to start scrounging for food from the rubbish.”

Apr 05 04:51

Beggared by Banks: 'Greeks forced to kill themselves'


The recent suicide of a cash-strapped Greek pensioner is a sign of the dire situation Greece finds itself in. It can be solved only by extreme measures such as default and giving up the euro, believes financial advisor Patrick Young.

Apr 04 18:10

Americans brace for second foreclosure round!

A painful part two of the slump looks set to unfold: Many more U.S. homeowners face the prospect of losing their homes this year as banks pick up the pace of foreclosures.

"We are right back where we were two years ago. I would put money on 2012 being a bigger year for foreclosures than 2010," said Mark Seifert, executive director of Empowering & Strengthening Ohio's People (ESOP), a counseling group with 10 offices in Ohio.

Webmaster's Commentary: 

No one in their right mind can talk about a "strengthening recovery", looking at numbers like this.

Apr 04 10:51

IRS Insider Joe Banister Exposes Federal Reserve Coup and IRS Fraud

Webmaster's Commentary: 

Consider this; we know from the Mortgage Backed Securities Fraud that the US Government refuses to investigate or even acknowledge the largest money-junkie frauds.

What if they have been doing that all along?

Apr 04 10:22

As unemployment soars, child labour returns to Europe

Under the headline “Child Labour Re-emerges in Naples”, the article describes how thousands of children have been forced to quit school and find jobs in order to help feed their families in the southern Italian metropolis. The article cites a local government report from 2011 which noted that 54,000 children left the education system in the Campania region between 2005 and 2009. Some 38 percent of these children were less than 13 years old.

Webmaster's Commentary: 

Watch for this practice to become common again in the US, in the not too distant future.

Apr 04 10:18

Raw Video: Police Pepper Spray California Students

Police pepper spray as many as 30 Santa Monica College students protesting at a trustees meeting over a plan to offer high-priced courses.

Apr 04 08:53

450 RESIGNATIONS FROM WORLD BANKS, INVESTMENT HOUSES, MONEY FUNDS

Apr 04 07:45

Six universities at risk of closure after bond swap

An emergency meeting of university rectors on Tuesday heard that only 33m euros remained of 120m euros that 17 Greek universities had deposited with the Bank of Greece for their operating expenses, while six university accounts were now completely empty meaning they would soon be unable to stay open.

Apr 04 07:36

Not Good Enough

Apr 04 07:36

America's 'smallest town' Buford goes up for sale

Buford once had 2,000 inhabitants, but then the railroad dropped it as a stopping point, and locals gradually moved out

For a sum which would barely buy a one-room apartment in most places – and a lot less in big cities – the purchaser of Buford, Wyoming would get over 10 acres of land including a three-bedroom home, a garage, and a mobile phone tower.

The Buford Trading Post shop benefits from regular traffic along the I-80 interstate, with Wyoming capital Cheyenne just 30 miles (50 kilometres) to the east, and San Francisco 1,150 miles (1,800 kilometres) to the west.

Apr 04 07:35

China overtakes US as world's largest grocery market

By 2015, the Chinese market is forecast to be worth £918bn compared to a US value of £675bn, says IGD.

The Chinese grocery sector was worth £607bn at the end of 2011, while the US market - which includes Wal-Mart, the world's largest retailer - dropped into second place at £572bn.

"This rapid expansion has been fuelled by three main factors: rapid economic growth, population and rising food inflation," said IGD chief executive Joanne Denney-Finch.

By 2015, the Chinese market is forecast to be worth £918bn compared to a US value of £675bn, according to the report by the British grocery industry group.

Apr 04 07:19

Chinese Insider Offers Rare Glimpse of U.S.-China Frictions

The senior leadership of the Chinese government increasingly views the competition between the United States and China as a zero-sum game, with China the likely long-range winner if the American economy and domestic political system continue to stumble, according to an influential Chinese policy analyst.

Webmaster's Commentary: 

I agree.

Mar 16 12:27

Ocean Radiation Plume Hits Hawaii From Fukushima Nuclear Meltdown

The latest marine impact simulation shows the radioactive plume of ocean radiation from the Fukushima nuclear meltdown has now hit Hawaii

Mar 16 12:25

What Closing The Straits Of Hormuz Will Mean In 3 Simple Charts

These 3 simple charts fully explain the shock waves that will be sent through the global economy if Iran decides to shut down in response to western military threats.

Mar 14 09:03

The US Dollar is No Longer King!!

Mar 14 08:50

Keiser Report: White Man's Debt Burden

In this episode, Max Keiser and co-host Stacy Herbert discuss how a video not featuring Justin Bieber went viral and how Max Keiser started a gold stampede. They also talk about "the white man's debt burden" of Uganda's resources and Afghanistan's "crony capitalism". In the second half of the show, Max talks to David Morgan about silver circles, ounces and manipulation.

Mar 14 03:25

Romney Declines To Enroll In Medicare

Mitt Romney Declines To Enroll In Medicare So He Can Destroy It

Monday was Mitt Romney's 65th birthday. Happy birthday, Mittens. In honor of his 65th birthday he announced that he would not be enrolling in Social Security or Medicare. How noble. Except, it's not.

In deference to the conservative dogs nipping his heels, Romney has endorsed the Paul Ryan Medicare plan which would voucherize Medicare and leave senior citizens floundering on their own with private insurance companies. Of course, if you asked Mitt Romney about it, what you'd get is a bunch of lies. Really awful, cynical, blatant lies.

Jan 16 11:04

Lawsuit Exposes Foreclosure Kingpin David Stern

Investors admit foreclosure documents were FORGED, while Stern pocketed $60 million in the transaction - And now, they are suing.

---

Jan 16 11:01

Bill Gross Exposes "The New Paranormal" For Markets

And it's not pretty for US investors...

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Jan 16 10:42

When Romney ran Bain Capital, his word was not his bond

Seemingly alone among private-equity firms, Romney’s Bain Capital was a master at bait-and-switching Wall Street bankers to get its hands on the companies that provided the raw material for its financial alchemy. Other private-equity firms I worked with extensively over the years — Forstmann Little, KKR, TPG and the Carlyle Group, among them — never dared attempt the audacious strategy that Bain partners employed with great alacrity and little shame. Call it the real Bain way.

Jan 16 10:39

Wall Street, Washington and Gingrich

Newt Gingrich and his consulting companies helped financial-services giant Credit Suisse Group gather exclusive Washington information and analysis, showing that the Republican presidential candidate benefited from a practice that has come under fire from lawmakers.

This "political intelligence" business—while legal—also risks muddying the campaign argument by the former House speaker that he has been a Washington outsider since he left Congress in 1999.

Jan 16 10:27

So, who, exactly, is funding Mitt Romney's 2012 Presidential Campaign?

Jan 16 09:45

An Open Letter to Family and Friends About Preparedness

I’m writing this letter because I care about you. Please take a few minutes to read it and think about what I’m saying...

Jan 16 09:44

Ron Paul Parade by South Florida Grassroots!

Jan 15 16:09

Iran rial slides, 'dollar' text messages appear blocked

TEHRAN, Jan 10 (Reuters) - Iran's currency has slid 20 percent against the dollar in the last week despite central bank intervention, and Iranians concerned about the economy said on Tuesday attempts to send text messages using the word "dollar" appeared to be blocked.

The central bank reportedly pumped $200 million dollars into the market last Wednesday after new and much tougher U.S. sanctions prompted nervous Iranians to change rials into hard currency, accelerating a rise in the price of dollars on the open market.

Jan 15 08:34

Hungarians hold anti-EU demonstration

Thousands of Hungarians have protested against the European Union, urging their country to pull out from the bloc while Budapest seeks EU's backing to evade insolvency.

Nov 16 10:32

Give Me Liberty Or Give Me Death - Patrick Henry, March 23, 1775.

Gentlemen may cry, Peace, Peace-- but there is no peace. The war is actually begun! The next gale that sweeps from the north will bring to our ears the clash of resounding arms! Our brethren are already in the field! Why stand we here idle? What is it that gentlemen wish? What would they have? Is life so dear, or peace so sweet, as to be purchased at the price of chains and slavery? Forbid it, Almighty God! I know not what course others may take; but as for me, give me liberty or give me death!

Webmaster's Commentary: 

As I type these words, the question on everyone's mind is whether this international revolution that started in Iceland and has already spread to Egypt and the Middle East will continue to spread across America. At the gas pumps and the supermarket checkout lines, the people speak of rebellion openly, if less furtively with each passing day.

There really is no way to avoid it. The money-addicts have created a world where firing the government is not only the best option; for most of us it is the only option. To not revolt is to condemn our children to lives of starvation and hopeless debt slavery to the Private Central Bankers, Goldman-Sachs, Morgan Stanley, etc. et. al. under a government with a demonstrated history of looting the people to feed the bankers, a government that views our lives as cheap and easily sacrificed for wars of conquest, or to be discarded without complaint to keep Israel happy when it attacks Americans in international waters.

Even now, the US Government prepares to solve its present debt crisis by embezzling the American taxpayer of their retirements by defaulting on the loans made to the US Government by Social Security. They will praise your silent consent as 'patriotism, but is such silence really patriotic? The men who created this nation did not think so!

"If ye love wealth greater than liberty, the tranquility of servitude greater than the animating contest for freedom, go home from us in peace. We seek not your counsel nor your arms. Crouch down and lick the hand that feeds you. May your chains set lightly upon you; and may posterity forget that ye were our countrymen."--Samuel Adams

The tragic reality is that the US Government has already declared war on the people of the United States. Bit by bit our rights are trampled on. Our wealth is confiscated for the benefit of a foreign power. Our homes are confiscated to pay the gambling debts of the bankers. Our emails are read, our phone calls listened to, our computers ransacked, all without warrant or due process. Torture and extrajudicial executions are the new reality of life under this tyranny. Our freedoms are confiscated to so that the government does not have to look with fear upon the people.

Even as our taxes increase, the maintenance of the nation is abandoned by a government intent on enriching a foreign power and fighting that foreign power's wars, along with saving the Wall Street money-junkies from the consequences of their swindles. Worse, to serve their foreign masters, the present government seeks to reduce the people of the united states to mere chattel from whom wealth may be extracted at leisure. Look around at our deteriorated condition and you see the growing effects of a war of conquest against the American people by the present government and financial institutions. The starvation and privations of the American people not only equals that of the nations in revolt; they are in actuality far worse! Americans have far greater reason to fire their government than the Icelanders, Tunisians, or Egyptians!

"It is in vain, sir, to extenuate the matter. Gentlemen may cry, Peace, Peace-- but there is no peace. The war is actually begun! The next gale that sweeps from the north will bring to our ears the clash of resounding arms! Our brethren are already in the field! Why stand we here idle? What is it that gentlemen wish? What would they have? Is life so dear, or peace so sweet, as to be purchased at the price of chains and slavery? Forbid it, Almighty God! I know not what course others may take; but as for me, give me liberty or give me death!" -- Patrick Henry

What Patrick Henry really meant in those final words went beyond mere drama. Patrick Henry declared that he would no longer be a slave, either to King George or to the Bank of England. He would be free, or he would be dead, but either way King George III would no longer own him as a slave, nor the Bank of England enjoy automatic title to the proceeds of his labor, so better for England to quit and save the lives of their soldiers then to waste lives seeking a slave who refused to be a slave.

Tragically, money-addicts never care about the lives of their own soldiers.

"Military men are dumb, stupid animals to be used as pawns for foreign policy." -- Henry Kissinger, quoted by Bob Woodward in The Final Days

So, King George III, in the throes of his money-addiction, and as owned by the Bank of England as the present government is by the Federal Reserve, tried to prove Patrick Henry wrong, which led to the humiliation at Yorktown.

Addicts to other peoples' money know no limits, no morality, no sense of fair play. They are hopelessly trapped by the allure of glittering gold. Like a Magpie, they simply must possess all that sparkles!

Bernie Madoff is the classic example. Co-founder of NASDAQ, with more money than any one man could spend in a lifetime, and he still felt compelled compelled to defraud his investors for another $65 billion. This is mental illness; the money-addiction that grips Wall Street and Washington DC, which symptoms manifest as (in one example) a psychotic compulsion to wear the entire productivity of a worker's life as a decoration on one's wrist. Not content with that, next year it will be the need to wear the the entire productivity of 100 workers' lives as a decoration on one's wrist that will drive the money addicts to greater crimes against the people.

Money addicts do not see their behavior as wrong or evil. Secure in their religious delusions that wealth is the sign of God's favor, they see themselves as heroes and heroines. Lloyd Blankfein, the head of Goldman Sachs, declared he was doing "God's work" at the time we now know Goldman Sachs was looting taxpayer money directly from the US Treasury to their own pockets. In their own minds the money addicts are the good guys; the stars of the world, the rightful inheritors of all of life's blessings. Sadly, history has shown that it is often easier to kill money-junkies than to cure their addiction, let alone get them to change their minds about themselves and to acknowledge their problem and its high social costs.

So, yes, a revolution in the streets of America is now an inevitability, albeit a revolution to be fought not with guns and bombs, but with keyboards and the truth. The money-addicts in Wall Street and DC have created a situation in which revolution is unavoidable, and already we see the hired things of the bankers cracking the heads of those people who dare to proclaim their refusal to pay debts not of their own making.

And as has been the case in Egypt, the US military, openly abused on their mortgages by J. P. Morgan, stand with the people. So do many police officers whose pension funds were destroyed by the mortgage-backed securities fraud.

The message to those who would rebuild their failed financial palaces on the backs of the people is thus a simple one. We shall not bail you out ever again. Yes, you may murder those who refuse to live on less so that you may have more, but it shall not change the final outcome. Living or dead, we are your slaves no longer.

That was Patrick Henry's message all those years ago, and it is still true today.

Oct 21 12:44

Occupy Wall Street Simplified

Oct 20 15:17

Sedan again as Germany imposes terms

There is an "unequivocal commitment" that haircuts will be confined to Greece alone. If you believe that, I have some ocean-front property to sell you in Alsace.

Fresh details soon.

Oct 20 15:14

EU Considers Temporary Bans on Sovereign Ratings

The European Commission is leaning toward proposing a ban on the issuing of sovereign credit ratings for countries in bailout talks, a top official said on Thursday.

Webmaster's Commentary: 

Basically, this is like asking for a credit card but refusing to turn over your credit scores, and the EU us not doing this because the numbers are good!

Aug 17 17:06

FLASHBACK - High-Frequency Trading: High-tech highway robbery

The Securities and Exchange Commission (SEC) knows that High-Frequency Trading (HFT) manipulates the market and bilks investors out of tens of billions of dollars every year. But SEC chairman Mary Schapiro refuses to step in and take action. Instead, she's concocted an elaborate "information gathering" scheme, that does nothing to address the main problem. Schapiro's plan--to track large blocks of trades by large institutional investors-- is an attempt to placate congress while the big Wall Street HFT traders to continue to rake in obscene profits. It achieves nothing, except provide the cover Schapiro needs to avoid doing her job.

Aug 17 16:44

FLASHBACK - FBI Probing SEC Attorneys for Insider Trading

Two enforcement lawyers at the Securities and Exchange Commission are being investigated by federal prosecutors and the FBI for possible insider-trading violations, according to a report from the SEC's inspector general.

The criminal investigation, which was disclosed to SEC Chairman Mary Schapiro in a March 3 memo, came about after SEC Inspector General H. David Kotz conducted his own investigation into the matter and referred it to criminal authorities after discovering suspicious trading activity.

Webmaster's Commentary: 

Is this one reason Madoff went unchecked for so long? Were SEC insiders sharing in the goodies?

Aug 17 16:44

FLASHBACK - Kucinich Who Told SEC to "Stand Down" on Stanford Probe

Chairman of the Domestic Policy Subcommittee, Congressman Dennis Kucinich (D-OH) today sent a letter to Ms. Mary Schapiro, Chair of the Securities and Exchange Commission (SEC) requesting documents that could reveal which government agency told the SEC to "stand down" rather than take enforcement action against the Stanford Group in October 2006 as has been reported by the New York Times.

Webmaster's Commentary: 

I want to know who told the SEC to stand down from investigating Madoff!!!

Apr 18 19:38

FLASHBACK - OFFSHORING AMERICAN JOBS - Corporations, Campaign Cash, & Bush Administration Policies.

Webmaster's Commentary: 

This document lays out the means by which the Bush administration changed the laws and tax codes to allow and even encourage corporations to send high-paying jobs to American companies even as Wall Street was already cranking up the machine to create and sell fraudulent mortgage=-backed securities.

The email responses to my expose' that the US is being looted to cover the buyback of fraudulent mortgage-backed securities usually view the firestorm of foreclosures as a knee=jerk reaction by the bankers to keep their balance sheets intact, but in looking at the timing of the Bush policies, and the fact that President George W. Bush was the first President to end his administration with fewer working Americans since Hoover, it seems clear that it was intended right from the start of the crisis to destroy Americans' ability to pay their mortgages, in order to allow the banks to seize those homes to preserve their capital structure.

Outright nationalization of private property would have triggered a rebellion, but by getting rid of the high paying jobs, the banks could grab the property to recapitalize themselves and make it look like it was the homeowners' fault!

This is the only possible explanation of why, in his first two years in Office, President Obama did nothing to stop the offshoring of American jobs, and indeed in the last two years, overall, offshoring has increased, and those jobs are never coming back!

This disaster is a deliberate creation of Wall Street and Washington DC. It's purpose is at best fulfillment of simple greed by the money addicts; at worse a plot to trap the whole world in a globalized version of a private central bank; a Federal Reserve on steroids!

Jan 08 10:58

Feast in Time of Plague: Wall Street Art of Sucking Money

Webmaster's Commentary: 

THE US GOVERNMENT TOOK YOUR JOBS SO THE BANKS COULD TAKE YOUR HOMES TO COVER THE COSTS OF THEIR MORTGAGE-BACKED SECURITY FRAUD

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