ECONOMY

Jul 07 12:58

Krugman’s Bathtub Economics

Jul 07 12:15

Century of Enslavement: History of The Federal Reserve (VIDEO)

What is the Federal Reserve system? How did it come into existence? Is it part of the federal government? How does it create money? Why is the public kept in the dark about these important matters? In this feature-length documentary film, The Corbett Report explores these important question and pulls back the curtain on America’s central bank.

Jul 07 11:59

outh Carolina Cops Seize Heaps of Cash During Annual Enforcement Blitz

A surprise annual enforcement blitz in Spartanburg County is largely about stealing cash from harmless motorists, an analysis shows.

Jul 07 10:50

This One Currency Pair Moves Markets: USD/JPY

Jul 07 10:35

How Badly You Have Been Screwed

You should have 170% of the standard of living you obtained in 1980 from one hour of labor. -- Let me ask: Do you?

Jul 07 10:35

IMF pushes Ukraine to ‘voluntarily committing suicide’

Western support will allow more IMF and European lending to prop the Ukrainian currency so the Ukrainian oligarchs can move their money safely to British and US banks, economist and author Michael Hudson told RT’s Truthseeker.

Webmaster's Commentary: 

Looks like the Ukrainian oligarchs are not confident they will hang onto power!

Jul 07 10:03

Germany missing 45% of its gold ‘stored in US’

Is the world's second largest gold reserve safe with the US? Missing gold bar numbers and an inability to audit the 45% of Germany gold reserve kept in the US Federal Reserve lead to the question if it's still there

Jul 07 09:58

The Looming Foreclosure Crisis: As the Fed Runs Out of Bullets, Local Governments Are Stepping In

Mortgage debt overhang from the housing bust has meant lack of middle-class spending power and consumer demand, preventing the economy from growing. The problem might be fixed by a new approach from the Fed. But if the Fed won’t act, counties will, as seen in the latest developments on eminent domain and litigation over MERS.

Jul 07 09:48

Chicagoland Gun Control : 11 Killed, At Least 60 Wounded In Citywide Shootings over 4th of July Weekend

At least 11 people were killed and 60 others were wounded over the long holiday weekend, from Thursday afternoon, to early Monday morning. There were also six police-involved shootings, two of them involving teens who were killed.

Jul 07 09:37

Shades of 1930 in Wall Street Banks’ Dark Pools?

On June 2 of this year, the Financial Industry Regulatory Authority (FINRA), a self-regulator of Wall Street’s broker-dealers, dropped a bombshell. For the first time, FINRA released trading data for Wall Street’s dark pools – unregistered stock exchanges that the SEC recklessly allows to trade stocks without making the bids and offers public, along with many other details.

The bombshell, that mainstream business media has yet to comprehend, was that the same mega Wall Street banks whose share prices crashed in the 2008 financial crisis are today not only running dark pools for stock trading but they’re trading the stock of their own corporate parents – to the tune of tens of millions of shares a week. Those Wall Street banks include JPMorgan Chase, Bank of America Merrill Lynch and Citigroup.

What could possibly go wrong in this arrangement?

Jul 07 09:36

Wells Fargo, in Bad Faith Mediation, Fights Brain-Injured Homeowner on Loan Mod.

Unreal.

Monday, July 7, 2014

KingCast and Mortgage Movies See RCW 61.24.163 Bad Faith Wells Fargo Fight Homeowner on Modification of Predatory Mortgage.

Here's your back story from 2013 citing the Corvello and Wigod cases. An excerpt from catastrophic brain injury survivor Jane Mair to Wells Fargo. Keep in mind I helped Ms. Mair obtain her Mortgage Mod with BoA on another home, so it's time for Wells Fargo to follow suit or be sued:

Stop it. You got bailed out by government after engaging in fraudulent and other bad conduct, but you won’t deal with me and give me any help when you know I have a predatory loan and I am a catastrophic brain injury survivor.

Jul 07 09:35

The New Way Big Corporations Like Walgreen Are Shamelessly Dodging Their Taxes

Dozens of big U.S. corporations are considering leaving the United States in order to reduce their tax bills.

But they’ll be leaving the country only on paper. They’ll still do as much business in the U.S. as they were doing before.

Jul 07 09:20

The Truthseeker: Ukraine Gangster State Calls for ‘Nuclear Strikes’ (E42)

Seek truth from facts with intelligence expert William Engdahl; economist Professor Michael Hudson;former US intelligence officer Scott Rickard; and the prosecutor who put Yulia Timoshenko’s partner behind bars, Martha Boersch:

Parliament moves to quit Nuclear Non-Proliferation Treaty;
Nazis ‘regular reconnaissance visits to nuclear power stations’;
Billionaire governor, whose Privatbank is top recipient of new IMF bailout, being placed on international wanted list for ‘banned methods of warfare and aggravated murder’.

Jul 07 09:04

Germany Upset with U.S., Merkel in China, signed agreements of trade.... No dollar to be used? China signs Yuan trade agreement with France and Luxembourg

Germany and Merkel are very upset with the U.S. once more over spying. This time it has been discovered a spy for the U.S. was within Germany's Foreign Intelligence agency.

Merkel is using some very harsh words against the U.S. It also came at a time that Merkel is in China right now signing trade agreements with them.

This year there have been many agreements signed with our closest allies of trade, dropping the dollar. The U.K. signed an agreement with China just a couple of weeks ago, dropping the dollar.

Now add the fact that China just signed trade agreements with France and Luxembourg using the Renminbi/Yuan and dropping the dollar.

but let's not forget that Russia is doing the same thing around the world.

Jul 07 08:25

Austria audits off-shore gold reserves

After growing public pressure among Austrians who have been sceptical about the continued existence of their country's gold reserves at the London bank, Austrian National Bank governor Ewald Nowotny confirmed at the end of May that an audit would take place.

"I acknowledge the request. Any grocery store is obliged to do inventory once a year. It is the only way of getting rid of these unreasonable allegations,” said Nowotny.

The web site Goldreporter.de states that Austria officially owns 280 metric tonnes of gold, of which 17 percent are kept in the country. Of the remainder, some 150 tonnes are believed to be stored in London.

In recent years, a rising number of sceptics have expressed concern about the continued existence of European gold deposits, especially those belonging to Germany that were being held by the US Federal Reserve.

Jul 07 08:14

Suddenly Your Debt Doesn't Seem So Bad

If you think your level of debt is really bad, this will put things into perspective for you.

Jul 07 08:12

July 2014 Morgan Report

Jul 07 08:07

Juncker? UK’s Cameron A Greater Threat To EU Freedom

The real threat to European freedom and independence comes from politicians like Cameron, not Jean-Claude Juncker.

The events in Ukraine and the political spat over who should be the next president of the European Commission might seem like issues far apart. But there is a connection that may seem rather surprising. As European leaders gathered in Brussels last week to decide on whether Jean-Claude Juncker should become the next EC president, despite British objections, the same leaders were also being lobbied by Washington to leverage further trade sanctions against Russia over the crisis in Ukraine.

Jul 07 07:10

Family could lose ranch now that feds have declared meadow mouse endangered

For a mouse! What Bovine Excretement!

A family’s livestock enterprise in New Mexico is in danger of being completely shut down now that the U.S. Fish and Wildlife Service has declared the meadow jumping mouse to be an endangered species, Watchdog reports.

The new regulations came into effect from the U.S. Fish and Wildlife Service last month, and as a result, the U.S. Forest Service is considering installing 8-foot high fences to protect the mouse, which would permanently prevent the Lucero family’s livestock from grazing.

Jul 07 07:00

Spain Issues Retroactive 0.03% Tax on Bank Deposits to "Boost Economic Growth and Job Creation"

Via translation from Libre Mercado, Spain will retroactively tax bank deposits to January 1, 2014 stating the move will boost growth and job creation.

Jul 07 06:32

Why Isn’t Wall Street in Jail?

First Look Media journalist Matt Taibbi, author of ‘The Divide: American Injustice in the Age of the Wealth Gap’, explains how Countrywide, a loan scam at the center of the sub-prime mortgage crisis,”almost blew up the world” by essentially giving big loans to anybody with a pulse. This scam formed a major component of the sub-prime mortgage crisis which went bust in 2008.

Jul 06 20:28

The Almighty Dollar Is In Peril As The Global ‘De-Dollarization’ Trend Accelerates

As the Obama administration continues to alienate almost everyone else around the entire planet, an increasing number of prominent international voices are starting to question why the U.S. dollar should be so overwhelmingly dominant in global trade. In previous articles, I have discussed Russia's "de-dollarization strategy" and the fact that Gazprom is now asking their large customers to start paying in currencies other than the dollar. But this is not just a story about Russia any longer. As you will read about below, China and South Korea have just signed a major agreement to facilitate trade with one another using their own national currencies, and even prominent French officials are now talking about the need to use the dollar less and the euro more. John Williams of shadowstats.com recently said that things have never "been more negative" for the U.S. dollar, and he was right on the mark.

Jul 06 18:30

Keiser Report: Cheap 'Potato Wedge' Money

Jul 06 17:13

London’s scandal-hit gold price fixing under spotlight

Buyers and sellers of the precious metal will meet in London on Monday to discuss the setting of the global benchmark

Jul 06 14:53

Gene Simmons Defends Bankster Elite

Look around Gene! By the way do any of you know where"Gene hails from? It pains me to have to put an entertainment tag on this article!

Kiss frontman Gene Simmons is defending the bankster one percent. He says the country would fall apart in short order if not for banksters and corporatists.

Jul 06 14:45

Egypt raises fuel and electricity costs

Egypt has introduced electricity and fuel price increases in a move to cut state subsidies and reduce the budget deficit.

Jul 06 12:57

Century of Enslavement: The History of The Federal Reserve

Corbett Report 1hr 30min documentary

Jul 06 10:23

Tent Cities Are Growing Throughout The U.S.

The National Law Center on Homelessness and Poverty (NLCHP), a non-profit advocacy group, recently released a comprehensive study called “Welcome Home: The Rise of Tent Cities in America.”

Jul 06 10:10

9 reasons the American middle class is dying

One percent of Americans now own more than a third of the country's wealth

Jul 06 09:55

Washington Senate Candidate Michelle Darnell Accepts Alternative Currency and Fights for Homeowners


Sunday, July 6, 2014

Michelle Darnell Washington Dist 48 Candidate for Senate at Kirkland Fourth of July Parade.

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In a King5 story this week, Michelle Darnell comments on the underuse of Mediation for underwater and foreclosure homeowners in the Mediation Fairness Program RCW 61.24.163.

From the story:

Michelle Darnell · Paralegal at Stafne Trumbull, LLC
As someone who has been working in foreclosure defense for several years, I am in support of the efforts made to respond to the foreclosure crisis in WA and specifically the WA FFA. However, I have been intimately involved in several mediations and believe the law and program fall significantly short of truly helping homeowners.

Jul 06 09:43

I.O.U.S.A. – One Nation. Under Debt. In Stress (Video)

Patrick Creadon’sI.O.U.S.A. documents the efforts of two concerned citizens, former US Comptroller General Dave Walker and Concord Coalition Director Robert Bixby, to explain how America racked up over $9.5 trillion in debt and what we can do to stem the tide.

Jul 06 08:36

Withdraw Your Consent: 25 Ways to Declare Your Independence

Our government has crossed the line and become tyrannical. Through insidious acts of terror inflicted upon their own people, they’ve enacted terrifying, sweeping legislations that give them almost unlimited power…the NDAA (indefinite detention) and the ironically named “Patriot Act”, to name two. Law enforcement is just a gang with badges, serving the government and not the people.

The “authorities” are running amok, blowing up babies in their cribs and killing homeless people and family pets because they know they’ll get away with it. They are nothing but revenue generators, looking for the smallest infraction for which to fine you.

We can’t afford to help the hundreds of thousands of Americans in Detroit who have lost their running water, but we can invite hundreds of thousands of immigrants to just walk on in, and we can afford to house them, feed them, give them medical care, and transport them throughout our country.

Jul 06 08:31

CEO Of One Of The World's Largest Energy Majors "Sees No Reason For Petrodollar"

The USA is fast running out of friends to support its 'exorbitant privelege'. Having alienated the Germans over NSA-eavesdropping, 'boomerang'd the Russians into de-dollarization, tariffed and quantitatively eased China into diversification, and finally 'punished' France into discussing the dollar's demise; it appears no lessor person than the CEO of Total (the world's 13th biggest oil producer and Europe's 2nd largest), believes "There is no reason to pay for oil in dollars." Clearly, based on Christophe de Margerie's comments, that we have passed peak Petrodollar.

"There is no reason to pay for oil in dollars," he said. He said the fact that oil prices are quoted in dollars per barrel did not mean that payments actually had to be made in that currency.

Webmaster's Commentary: 

The Federal Reserve's absolute, rapacious greed, coupled some really bad "planning" on the part of the US government, has brought this situation about, and perhaps sooner than I had expected.

Both entities have no one else but themselves to blame.

Jul 06 06:54

Half a million facing 20-mile A&E trip in 'crazy' closure plans drawn up in the face of £30m funding black hole

Half a million people will be left 20 miles from their nearest A&E under ‘deeply worrying’ plans to cut two neighbouring casualty units.

The imminent threats are to the A&Es in Milton Keynes and Bedford, which between them serve at least 500,000 people in an area with a fast-growing population.

Jul 06 06:43

Taxpayers' £1m bill 'for civil servants to hum along to Miley': Royalties paid so civil servants can listen to the radio at work

Taxpayers are footing a bill of nearly £1?million so that civil servants can listen to the radio at work.

Government departments and quangos have been using public money to pay music royalties to allow staff to listen to music in the office.

Some have paid royalties for the banal music played when callers ring switchboards and are put on hold – even though royalty-free music is available.

Since 2009, £848,904 has been spent, according to figures uncovered by The Mail on Sunday using Freedom of Information laws.

Jul 06 06:43

Discouraged Workers Economists Puzzle Over Labor Force Dropouts

Probably the stupidest 'puzzle' yet!
People can't work if there are no jobs!

Jul 06 06:15

Charting The Death Of The Saver

Jul 06 06:15

CEO Of One Of The World's Largest Energy Majors "Sees No Reason For Petrodollar"

cue music: "final countdown"

Jul 06 06:13

CEO Of One Of The World's Largest Energy Majors "Sees No Reason For Petrodollar"

The USA is fast running out of friends to support its 'exorbitant privelege'. Having alienated the Germans over NSA-eavesdropping, 'boomerang'd the Russians into de-dollarization, tariffed and quantitatively eased China into diversification, and finally 'punished' France into discussing the dollar's demise; it appears no lessor person than the CEO of Total (the world's 13th biggest oil producer and Europe's 2nd largest), believes "There is no reason to pay for oil in dollars." Clearly, based on Christophe de Margerie's comments, that we have passed peak Petrodollar.

Jul 05 18:20

The tangible value of US dollar

Jul 05 16:31

Davos Class Jittery Amid Growing Warnings of Global Unrest

As an annual gathering of thousands of leading financial, corporate, political and social oligarchs in Davos, Switzerland, the World Economic Forum (WEF) has taken a keen interest in recent years discussing the potential for social upheaval as a result of mass inequality and poverty. A WEF report released in November of 2013 warned that a “lost generation” of unemployed youth in Europe could potentially pull the Eurozone apart. One of the report’s authors, the CEO of Infosys, commented that “unless we address chronic joblessness we will see an escalation in social unrest,” noting that youth especially “need to be productively employed, or we will witness rising crime rates, stagnating economies and the deterioration of our social fabric.” The report added: “A generation that starts its career in complete hopelessness will be more prone to populist politics and will lack the fundamental skills that one develops early on in their career.”

Jul 05 13:47

American Dissatisfaction With Everything Is Reaching Historic Levels:

"Two-thirds of the survey's respondents felt that they have no say in government, with 73 percent believing the government does not rule with the consent of the people."

Jul 05 13:36

What is Inflation? | Jerry Robinson

Jul 05 13:07

The "Phoenix" New World Currency Revealed

Jul 05 13:00

Central Bank Official: Digital currencies could ‘challenge sovereignty’ and government finances

A senior Central Bank official has warned that virtual and digital currencies have the potential to challenge the sovereignty of states. Gareth Murphy was this afternoon addressing Bitfin 2014, a conference on digital money in Dublin. Mr Murphy said rivals to national legal tender pose challenges to central banks’ ability to influence the price of credit for the whole economy.

Jul 05 11:06

PAYBACK TIME FOR SARKO IN FRANCE’S DIRTY POLITICS?

Former French president Nicholas Sarkozy’s dramatic criminal interrogation last week shows once again that the politics of the French Republic remain waist-deep in sewage. It was also an affront and humiliation of a former – and would be future – French president. Sarkozy was picked up from his Paris home before eight AM and whisked off to a police and judicial center in the outskirts of the capitol. He was subjected to 15 hours of intensive questioning, then taken at two AM to be arraigned (‘mis en examen’) for possible corruption and perversion of justice.

Jul 05 10:10

Why More Businesses are Abandoning California

Jul 05 09:34

Largest Austrian Bank Crashes After “Revealing” 40% Surge In Bad Debt Provisions, Record Loss

Austria’s largest bank by assets, and the third biggest bank in Eastern Europe after UniCredit and Raiffeisen, announced that, oops, its earlier forecast about the amount of bad loans on its books is wrong, and will have to rise by a massive 40%, leading to what will be a record $2.2 billion loss, and triggering writedowns.

Shareholders, not used to being told the truth and instead preferring sweet, little lies, promptly took the stock to the woodshed.

Webmaster's Commentary: 

I wonder just how badly the rest of the European economy will react to this next week, and the American economy as well; the dealings of large private banks are very inter-related, and yesterday was a holiday for the US stock markets.

Jul 05 08:37

Dick Cheney Has His First Good Idea

You might know Dick Cheney as the mastermind behind the 9/11 attacks and the disinformation about Weapons of Mass Destruction in the lead up to the Iraq War. But those weren't his only ideas... Other ideas include shooting that guy while duck hunting and Haliburton's selling nuclear technology to Iran. In fact Haliburton does not care whatsoever about which countries the US bans trades with. They'll trade anyway with them. But Dick Cheney has only just recently had his best idea yet..and he's only on his second heart:

Jul 05 08:34

Lincoln- Worship Overlays The Corporatist Agenda

As with other authoritarian high modernizers, Lincoln’s vision of the society he wanted to build implied an aversion to the society it would replace. In many ways his father, Thomas Lincoln, symbolized everything he wanted to eradicate from American society. William Herndon’s book Herndon’s Lincoln includes descriptions of Thomas such as the following:

[Thomas] was happy — lived Easy — & contented. Had but few wants and Supplied these.

He was a man who took the world Easy — did not possess much Envy. He never thought that gold was God.

Jul 05 08:20

The Jeffersonian Secessionist Tradition..Or Thomas Jefferson Was Right!

By Thomas DiLorenzo
July 5, 2014

“The tree of liberty must be refreshed from time to time with the blood of patriots and tyrants. It is its natural manure.”

–Letter from Thomas Jefferson to William Stephens Smith, Nov 13, 1787

Thomas Jefferson, the author of America’s July 4, 1776 Declaration of Secession from the British empire, was a lifelong advocate of both the voluntary union of the free, independent, and sovereign states, and of the right of secession. “If there be any among us who would wish to dissolve this Union or to change its republican form,” he said in his first inaugural address in 1801, “let them stand undisturbed as monuments of the safety with which error of opinion may be tolerated where reason is left to combat it.”

Jul 05 08:10

Lack Of Buyers In US Credit Markets

Jul 05 07:37

Taliban torch hundreds of 'NATO-supplying' fuel trucks near Kabul

So the Russians have blocked the northern route now. If we loose thousands of troops in Afghanistan like the Brits did years ago it will be all over for Obama and his generals as the American people will go NUTZS!

An assault by militants at a large parking lot on the outskirts of Afghan capital, Kabul, Friday night left at least 200 fuel tankers incinerated. The Taliban said the privately-owned tankers were targeted because they supply foreign troops.

Now that the tensions between Moscow and Washington over the unfolding civil war in Ukraine are higher than ever, the US military has to consider the challenge of transporting millions of pieces of military assets out of Afghanistan when all possible exit routes – including through Russia – are blocked.

Jul 05 07:19

Rising red tide: China’s Navy in frenzy to build new nuclear-powered attack subs

China's military is investing heavily in advanced submarines, including both ballistic and cruise missile firing vessels and attack subs.

Webmaster's Commentary: 

If you saw the United States in an orgy of invasion against every nation that refused to bow to the dollar, you would be building weapons, too!

Jul 05 07:19

President Robert Mugabe Says No Whites May Own Land in Zimbabwe

Zimbabwe president Robert Mugabe has ordered the nation’s remaining white farmers to be booted off their farms in order that the land be given to black Zimbabweans.

In the harshest official policy on race and land reform in a country that has been close to bankruptcy, the 90-year old autocrat said Wednesday that whites may no longer own any land in Zimbabwe. Whites would still be allowed to own businesses and urban apartments.

Jul 05 07:15

South Korea, China agree to direct trade in national currencies

South Korea and China have agreed to create a market for direct trading of the yuan and won, which is hoped, will help reduce the pressure of the US dollar, as well as cut foreign exchange costs and boost bilateral investment.

Jul 05 07:14

FLASHBACK - Sequester Doomsday Predictions: Much Ado about Nothing

Despite endless hand-wringing and apocryphal forecasts of massive federal job losses as a result of the 2013 sequestration, it turns out that — drum roll, please — only one job was eliminated.

The White House and the Congressional Budget Office (CBO) predicted that thousands of jobs would disappear if Congress couldn’t avoid sequester, those automatic budget cuts implemented across all federal agencies when Democrats and Republicans failed to agree on a budget deal.

So much for all that talk, as only the Department of Justice reported the reduction of its workforce, and that by a single employee in fiscal year 2013, according to a Government Accountability Office (GAO) report.

Jul 05 05:33

SLAVE NATION WARNING! /CURRENCY RESET.

Jul 04 19:51

By "Punishing" France, The US Just Accelerated The Demise Of The Dollar

Putting this whole episode in context: in an attempt to punish France for proceeding with the delivery of the Mistral amphibious warship to Russia, the US "punishes" BNP with a failed attempt at blackmail (recall that as Putin revealed, the BNP penalty was a used as a carrot to disincenticize France from concluding the Mistral transaction: had Hollande scrapped the deal, BNP would likely be slammed with a far lower fine, if any). Said blackmail attempt backfires horribly when as a result, the head of the French central bank makes it clear that not only is the US Dollar's reserve currency status not sacrosanct, but "the world" will now actively seek to avoid USD-transactions in order to escape the tentacle of global "pax Americana."

Jul 04 19:46

Your Tax Dollars at Work, In a Far-Away Land

Why aren’t we seeing these “victories,” on our TV nightly news? Let’s celebrate “our” “victories.”

After all, this is the new nazi Amerika, doing our thing. But, who, then, are “we”? And who are “they”?

Jul 04 19:13

PRUDEN: An immigrant surge en route to a Third World USA

Maybe we’ve been conned. There’s a growing recognition that Barack Obama is an incompetent poser, working out of his depth, and his administration is the gang that can’t shoot straight.

Everything he touches becomes a bloody mess, like crushed bones and bits of flesh caught in the tracks of a tank slicing through a rank of soldiers (or civilians). Iraq, Syria, Egypt — all gone, as prospects for countries with a prosperous and democratic future.

The “reset” with Russia, meant to ensure that America and the replacement republic of the old Soviet Union can be friends, is a reset, sure enough. The new Russia looks more like a reset to the Cold War......

Jul 04 17:48

Largest Austrian Bank Crashes After “Revealing” 40% Surge In Bad Debt Provisions, Record Loss

Austria’s largest bank by assets, and the third biggest bank in Eastern Europe after UniCredit and Raiffeisen, announced that, oops, its earlier forecast about the amount of bad loans on its books is wrong, and will have to rise by a massive 40%, leading to what will be a record $2.2 billion loss, and triggering writedowns.

Shareholders, not used to being told the truth and instead preferring sweet, little lies, promptly took the stock to the woodshed.

Jul 04 17:47

By "Punishing" France, The US Just Accelerated The Demise Of The Dollar

Not even we anticipated this particular "unintended consequence" as a result of the US multi-billion dollar fine on BNP (which France took very much to heart). Moments ago, in a lengthy interview given to French magazine Investir, none other than the governor of the French National Bank Christian Noyer and member of the ECB's governing board, said this stunner at the very end, via Bloomberg:

Jul 04 17:42

5 Things To Ponder: Under The Surface

Jul 04 17:28

Banking is Institutionalized Murder

by Anthony Migchels
(henrymakow.com)
USURY IS PURE MURDER!Look at how whole nations are gutted to pay off some filthy rich trillionaires.

And we have built our entire economy on this horrid plunder. On this monstrous sin!Banking is simply institutionalized Usury.

Capitalism is simply Banking.
The two rose to prominence together in Amsterdam, London and New York.

Jul 04 15:50

US Exports to Russia Hit Record Levels in May Despite Sanctions

US exports to Russia rose 21 percent and reached a record high of $1.25 billion in May, according to the Bureau of Economic Analysis, an arm of the US Department of Commerce.

During the same month, American exports to the EU and China increased by only 2.5 percent and 2.2 percent, respectively.

US imports from Russia decreased by 8.5 percent in May, totaling $2.15 billion.

Jul 04 14:26

Signs of the Collapse: Record Number Unemployed – 92,120,000 Not Working, Not Looking

The continuing collapse of our economy took another hit this month with a record 92 million Americans now completely out of work. -- Up 111,000 from the previous month, there are now 92,120,000 Americans, 16 and over, who not only didn’t have a job, but stopped actively seeking one in the last month.

Jul 04 14:07

OBAMA: 'Our Immigration System Is Broken'

DUH!

President Barack Obama told Americans on the Independence Day holiday on Friday that welcoming immigrants to the United States is "central to our way of life"....

Jul 04 13:54

Coming To America: Disease and Violence

The threat of widespread livestock and human disease is gripping south Texas. As the Obama administration turns a blind eye toward the imminent threat facing taxpaying Americans, heedful ranch owners have issued a blunt warning for the rest of the United States currently being forced to harbor illegals in their communities.

Jul 04 12:07

Capitalism: A System of Patrimonial Wealth

Thomas Piketty’s, Capital in the Twenty-First Century, is a sensation–an economics textbook, translated from the French, that has been on the New York Times best-seller list. It is an important work. If you ignore more than one hundred pages of notes, it is still a long but easy read.

Jul 04 10:57

The F-35 Fighter Jet Is A Historic $1 Trillion Disaster

This was supposed to the be the F-35's big month.
The troubled next-generation fighter jet was going to make its international debut at the Farnborough Air Show in England. The U.S. and its partners would have something to show for theiryears of delays, setbacks, and cost overruns.

Jul 04 08:01

DOW 17,000: This is Your 1929 Moment

Jul 04 07:21

South Korea, China agree to direct trade in national currencies

South Korea and China have agreed to create a market for direct trading of the yuan and won, which is hoped, will help reduce the pressure of the US dollar, as well as cut foreign exchange costs and boost bilateral investment.

Jul 04 07:18

Congress No Longer Required to Report Expensive Trips Paid

One of the awesome things about being a member of Congress is that lobbyists are constantly trying to buy your attention. But one of the not-so-awesome things about being a member of Congress is that you have to report these free gifts on your annual financial disclosure form, which makes it look like, well, a company has bought your attention. Thankfully, this won’t be a problem for congressmen and women anymore:

Jul 04 06:27

June Full-Time Jobs Plunge By Over Half A Million, Part-Time Jobs Surge By 800K, Most Since 1993

Is this the reason for the blowout, on the surface, payroll number? In June the BLS reports that the number of full-time jobs tumbled by 523K to 118.2 million while part-time jobs soared by 799K to over 28 million!

Jul 04 04:38

India’s Central Bank Will Sell Gold on the Market in Exchange for Gold at the Bank of England

India’s central bank said on Wednesday it has sought quotes from banks to swap gold in its own vaults for international-standard gold, aiming to improve the management of its reserves.

The Reserve Bank of India said the operation would “standardise the gold available with RBI in India with respect to international standards” and the gold acquired would be delivered to its overseas custodian, the Bank of England.
By holding gold reserves in London, the RBI would gain flexibility to mobilize them if needed to defend the currency.

It appears the Indian government has finally realized they can’t stop their citizens penchant for gold, so they have decided to dump central bank gold onto the market in exchange for gold of the rehypothecated paper variety.

What is incredible to me is that they are justifying this with a so-called “swap” into phantom gold at the Bank of England.

Jul 04 04:34

Caught Rigging Gold And Dark Pools, Barclays Begs To At Least Keep FX Manipulation

What follows is not from The Onion. It is from FT:

The foreign exchange market needs “fine tuning” rather than heavy handed reform, the chairman of Barclays argued on Thursday, as he unveiled a new compliance academy aimed at raising standards within the bank.

Sir David Walker said that while the forex market was “vulnerable to taint” it had worked well for a very long time and that the focus now should be on ensuring better conduct by traders.

Translation: it may be rigged, but it's rigged in a way that makes the riggers money. As for everyone else, if only the regulators had kept their mouth shut, nobody would have been the wiser and we could just blame those fringe blogs accusing banks of manipulating various assets of being "conspriacy theorists."

Jul 04 04:27

What Happened The Last 4 Times Stocks Rallied For 23 Quarters?

The S&P 500 is in the 23rd quarter of its recovery - and shows a 196% gain.... the last four moves of similar magnitude ended very badly.

Jul 03 13:30

NOW HIRING: Government (NO THANKS)

The recent hiring spurt—one of the best stretches since the late 1990s—has gotten a surprising lift by a major sector: government.

Jul 03 13:13

July 4 Barbecue Costs Climb to Record: Chart

Rising prices for beef, ice cream and lettuce mean Americans will spend the most ever for Fourth of July barbecues this year.

Jul 03 13:07

Record 92,120,000 Americans Not Working, Not Looking

The number of Americans 16 and older who did not participate in the labor force climbed to a record high of 92,120,000 in June, according to data from the Bureau of Labor Statistics (BLS).

Jul 03 13:02

MILITARY BASES ‘TURNING INTO REFUGEE CAMPS’

Texas officials appealed to the Obama administration on Thursday to secure the U.S.-Mexico border once and for all as waves of illegal immigrant children overwhelm the system, with one lawmaker saying U.S. military bases effectively have been transformed into camps to handle the influx.

Jul 03 12:47

Expropriation Is Back - Is Christine Lagarde The Most Dangerous Woman In The World?

I have gone on record that the most dangerous organization is the now French led IMF with Christine Lagarde at the helm, which has presented a concept report that debt cuts for over-indebted states are uncompromising and are to be performed more effectively in the future by defaulting on retirement accounts held in life insurance, mutual funds and other types of pension schemes, or arbitrarily extending debt perpetually so you cannot redeem. Yes you read correctly, The new IMF paper is described in great detail exactly how to now allow the private sector, which has invested in government bonds, to be expropriated to pay for the national debts of the socialist governments.

Jul 03 12:45

ECONOMIC REALITIES: Those euromyths in full

Jul 03 12:41

Big Central Bankers: The Root of Pure Evil. The Major Source of Instability around the World.

To the central bankers. To have a currency that competes with their debt based currency scheme that threatens their monopoly on controlling the money supply must not stand. Through their tax free foundations funding NGOs(Non Governmental Organizations). These organizations that are foreign agents of a power outside the jurisdiction foment ethnic or sectarian violence playing divide and conquer in order to try to overthrow governments that does not want a central bank.

Jul 03 11:23

June Full-Time Jobs Plunge By Over Half A Million, Part-Time Jobs Surge By 800K, Most Since 1993

Is this the reason for the blowout, on the surface, payroll number? In June the BLS reports that the number of full-time jobs tumbled by 523K to 118.2 million while part-time jobs soared by 799K to over 28 million!

Webmaster's Commentary: 

Absoflippinglutely unbelievable!!a

Jul 03 10:59

Students and graduates speak out against growing debt

The total level of US student loan debt hit more than $1 trillion in 2011, surpassing the total amount of credit card debt and home mortgage debt. The class of 2014 had an average debt load of $33,050, more than triple the level in 1993.

The already intolerable burden of this debt was made worse this month, when interest rates on federal student loans went up by almost one percent on July 1.

Jul 03 10:21

Establishment Pushing “Cashless Society” to Control Humanity

The global establishment is increasingly pushing the notion of what it calls a “cashless society” — a world in which all payments and transactions would be conducted electronically, creating a permanent record for governments to inspect and track at will.

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