ECONOMY

Jul 09 07:20

Say hello to U.S. economy’s newest bubble

Call it irrational exuberance, part two. Like old man river, the stock market just keeps rolling along. Last week it was Dow 17,000. Will this week see the market go even higher?

Before you jump on the bulls’ bandwagon, let me call to your attention a couple of salient statistics. At today’s level, the Dow industrials DJIA +0.10% are up 5% since the beginning of this year. This is on top of a 35% leap in 2013. And in case you are keeping score, the Dow is now a whopping 155% above its low back in March 2009.

All that said, there are a number of warning signs out there that suggest the party may soon be over.

Jul 09 07:18

Portugal's Largest Bank Misses Bond Payment; Bonds Collapse

Brussels, we have a problem. As we warned 6 weeks ago, Espirito Santo International SA - is in a "serious financial condition" according to a central bank driven external audit by KPMG identified "irregularities in its accounts." Sure enough, the 'ponzi-like' maneuvers have left the bank unable to pay its bonds as Bloomberg reports bonds plunged to record lows after a parent company delayed payments on short-term notes.

Jul 09 07:18

The Bears Are Back In Town

Jul 09 06:51

Why Housing Will Crash Again--But For Different Reasons Than Last Time

Institutionalizing the speculative excesses that inflated the previous housing bubble has fed magical thinking and fostered illusions of phantom wealth and security.

Jul 09 06:48

You Know That Things Are Getting Perilous When Even The New York Times Starts Pointing Out Financial Bubbles Everywhere

Is there any doubt that we are living in a bubble economy? At this moment in the United States we are simultaneously experiencing a stock market bubble, a government debt bubble, a corporate bond bubble, a bubble in San Francisco real estate, a farmland bubble, aderivatives bubble and a student loan debt bubble. And of course similar things could be said about most of the rest of the planet as well. In fact, the total amount of government debt around the world has risen by about 40 percent just since the last recession. But it is never sustainable when asset prices and debt levels increase much faster than the overall level of economic growth. History has shown us that all financial bubbles eventually burst. And when these current financial bubbles in America burst, the pain is going to be absolutely enormous.

Jul 09 06:41

One Company Finally Admits: It Wasn't The "Harsh Weather" After All

Yesterday we heard from the CEO of the world's biggest company that the exuberant jobs data did not reflect any economic reality Wal-Mart was seeing. Overnight, William Arthur Tindell, CEO of The Container Store, further destroyed the myth of a 'recovery' stalled by 'weather' and threw the rest of his 'retailer' brethren under the bu:"We thought our sluggish sales were all because of weather and calendar shift...but now we've come to realize it's more than that, consistent with so many of our fellow retailers, we're experiencing a retail funk."

Jul 09 06:41

Portugal's Largest Bank Misses Bond Payment; Bonds Collapse

Of course the government says its "contained" - now where have we heard that before?

Jul 09 06:37

Power grab: EPA wants to garnish wages of polluters

The Environmental Protection Agency has quietly floated a rule claiming authority to bypass the courts and unilaterally garnish paychecks of those accused of violating its rules, a power currently used by agencies such as the Internal Revenue Service.

Jul 09 06:31

Hillary Clinton Has Raised Over $1 Billion From Wall Street

Hillary Clinton’s claim of being “dead broke” offered up easy fodder to Republicans, who swiftly poked fun at a politician who appeared out of touch with regard to her own potential wealth.

Yet what’s really keeping GOPers tossing and turning at night is the powerful political fundraising punch the Clinton brand brings to the table.

Jul 09 06:25

Members of Congress Declare “Immunity” from Insider Trading Probe

U.S. District Court Judge Paul Gardephe ordered the committee last week to explain why it hadn’t responded to the SEC’s year-long request for documents, phone records and the testimony of staff director Brian Sutter, as part of a probe into whether he or other House members leaked private information about health care policy to insurance companies.

Rather than turning over the information, top House lawyer Kerry W. Kircher answered the order by requesting that the case be dismissed.

Jul 09 04:03

HHS Report: Percentage of Americans on Welfare Hits Recorded High

According to the 2014 version of a report that the Department of Health and Human Services is required by law to issue annually, the percentage of Americans on welfare in 2011 was the highest yet calculated. The data for 2011 is the most recent in the report.

Jul 08 23:15

EGYPT RAISING GAS PRICES UP TO 78%

Jul 08 20:17

Banks Face Ultimate Collapse

It can now be reported that, at this hour, there is NO liquidity left in the worldwide financial markets as Chinese banks can no longer guarantee the bad loans which affects all worldwide derivative holdings of criminal banking institutions aka JPMorgan Chase, Bank of America, Royal Bank of Canada, Bank of England, U.S. Citibank as well as NAZI German Deutsche Bank.

Jul 08 19:17

We're paying for Fred the Shred's £500k legal defence: Taxpayers fork out huge sum on disgraced bank boss despite case having not even reached court yet

Taxpayers have forked out almost half a million pounds in legal fees to defend disgraced former Royal Bank of Scotland boss Fred Goodwin, it emerged last night.

Costs of £400,000 have already been racked up by law firms representing four former directors of the bank against a lawsuit brought by its shareholders – even though the case has still not reached court.

If it does, the final bill will run to millions of pounds.

Mr Goodwin’s legal fees are being paid by the bank, despite the fact he draws a £342,500-a-year pension.

Jul 08 18:59

How Much Wealth Are Our Wealthiest Hiding?

Almost everyone knows how Al Capone went down. We’ve seen the movies.

The biggest and baddest gangster in American history extorted and murdered for years. But the feds could never convict him on anything, until the green eyeshade guys went to work. They finally nabbed Capone — on income tax evasion.

Jul 08 17:33

Is margin debt rolling over?

Jul 08 17:08

Video: Everything is AWESOME!

Jul 08 16:45

Richard Russell – This Rolling Crisis Is About To Get Very Ugly

This is a stock market that is not ready for any negativity

Jul 08 16:02

German exports disappoint, imports off sharply in May, adding to expectations of weak quarter

German exports fell more than expected in May while imports dropped sharply, adding to data that point to a weak second quarter for Europe's biggest economy and also pushing up the country's trade surplus.

The Federal Statistical Office said Tuesday that exports were down 1.1 per cent compared with the previous month, a steeper drop than the 0.4 per cent decline economists expected. Imports fell 3.4 per cent.

Jul 08 15:56

Vatican Bank Profits Plunge Following Clean-Up

It seems not even The Pope's private bank can make money when its only allowed to do it the legal way. As The FT reports, profits at the Vatican bank plunged last year after thousands of accounts were closed as part of an overhaul of the scandal-ridden institution. The Vatican bank, officially known as the Institute for Religious Works (IOR), now has 17,419 customers, down from 18,900 in 2012 and net profit fell from EUR86.6m in 2012 to EUR2.9m last year. So - in sum - accounts fell 8% and profits collapsed 97% - is it any wonder Pope Francis plans to replace the board and all the executives at the 'bank'.

Jul 08 15:53

Stock Buyback Shocker: Companies Using Secured Bank Loans To Repurchase Stock

"US lending to businesses is reaching record levels but banks are privately warning that the activity should not be seen as evidence of an economic recovery." And the stunner: "Much of the corporate lending is going to fund payouts to shareholders, finance acquisitions and fuel the domestic energy boom, bankers say, rather than to support companies’ organic growth."

Jul 08 14:56

Turn Around Tuesday Flunk-A-Dunk

Jul 08 14:39

Medical Marijuana User Assaulted by D.C. Cops, Detained for Possession on 'Independence Day'

Daniel Price, a medical marijuana card holder, was in D.C. last week to enjoy Independence Day with friends. As they went through a security checkpoint, a police officer had him put his hands above his head which prompted someone to begin filming the situation. Price was assaulted, searched, and detained. Ain't 'freedom' great? The scrapes on Price's arms and legs can be seen at the end of the video.

Jul 08 14:18

Spain to tax bank deposits

Jul 08 13:59

Big Banks Want Power to Declare Cyber War

Merger of Big Banks and National Security Power … What Could Possibly Go Wrong?

Jul 08 13:55

NEW DATA: White House Gave Female Staffers Smaller Raises.

HERE IS YOUR WAR ON WOMEN !

Jul 08 13:14

Should We Serve the Economy or Should the Economy Serve Us?

Let's talk about the destruction of the American economy – mergers and acquisitions style.

As The New York Times points out, back in 1994, Massachusetts allowed its two most prestigious hospitals – Massachusetts General and Brigham and Women's Hospital – to merge.

Jul 08 13:00

Wall Street Teams Up with U.S. Intelligence Cronies in Bid to Form Fascist “Cyber War Council”

It appears that trillions in taxpayer bailouts simply wasn’t enough for Wall Street.

Jul 08 12:53

ISIL-ISIS and It’s So Called Caliphate: Israeli-US Tools to Divide Iraq

The following GRTV documentary looks at the crisis in Iraq, which is being used to divide Iraq, and examines the support that the US and Israel are providing for the so-called Islamic State of Iraq and the Levant (ISIL) and its so-called self-declared caliphate. The documentary also looks at how the crisis in Iraq is tied to the long war of the US aimed at controlling at Eurasia. It also looks at the past analyses of Michel Chossudovsky and the video’s producer, Mahdi Darius Nazemroaya, about this long war.

Jul 08 12:48

Detroit Urges National Effort to Defeat Banks, Privatization

Activists in Detroit have not been idle in confronting the bank-imposed austerity plaguing the city. Every week there are Freedom Friday demonstrations beginning at the DWSD and spreading out through downtown in order to confront and expose the real criminals behind the crisis.

A press conference organized by the Stop the Theft of Our Pensions Committee (STOPC) took place on July 3 in front of the federal courthouse. City of Detroit retirees from Moratorium NOW! Coalition, STOPC and the Concerned Citizens and Retirees of Detroit spoke out against the proposed plan of adjustment and what they perceived as a rigged voting process that is pressuring retirees to vote yes on cutting their pensions and benefits.

Members of the Moratorium NOW! Coalition have been leafleting at the DWSD payments centers in addition to organizing weekly Freedom Friday demonstrations. On July 2 and 3, hundreds of people were reached through leafleting on both the west and east sides of the city.

Jul 08 12:41

Members of Congress Declare "Immunity" from Insider Trading Probe

House panel refuses to submit to SEC subpeonas

Jul 08 12:30

Why Killing The Ex-Im Bank Is Crucial To The Future Of Capitalism

The surface facts make abundantly clear that the case for the Ex-Im Bank is truly lame. In the most recent year (2013), its credit guarantees and other programs accounted for $37 billion of exports or less than 2% of the $2.2 trillion of exports generated by the US economy. Moreover, by the bank’s own reckoning only about $12 billion of these Ex-Im deals deployed taxpayer subsidies in order to “meet competition from a foreign, officially sponsored export credit agency”.

Jul 08 12:23

Water in California being Auctioned

According to state records, two water districts in California are beginning to auction off their private supplies of water.

Jul 08 12:20

Happy Days are here again…or are they?

Jul 08 12:19

Peter Schiff: The more US spies on the world the quicker dollar loses power

Germany is again having to deal with revelations that the US has been spying on it. A German intelligence agent was allegedly sending hundreds of top secret documents straight to Washington.

Jul 08 11:41

Keiser Report - Empire Of Fictional Cash

Jul 08 11:21

Dr. Ron Paul’s Prescription For Our Constitutional Republic

Dr. Paul said he said he works “on the assumption that you can save the republic but not in a conventional way.” He does not think the republic is going to be saved by “electing two or three or ten more members of Congress” who are committed to doing the right thing.

Jul 08 10:26

Seattle Lawyers and Citizens to Protest Commercial Code Uniform Law Changes that Help Banks Foreclose


Monday, July 7, 2014

Alina Virani, KingCast and Mortgage Movies Watch Seattle's Rolling Rebellion, Attorneys, Politicians and Citizens Square off Against the Banksters' Uniform Law "Reform" Conference.

Jul 08 10:09

City Council in Texas to Vote on Resolution: No Unaccompanied Illegal Migrant children Allowed in League City.

We can see cities pass similar resolutions in Texas and nationwide blocking these children being dumped in their cities having their resources drained bankrupting municipalities taking care of these children and not welcoming the Federal government in to house these children in their jurisdiction,

Jul 08 09:50

Why isn't Labour offering an alternative to Tory austerity?

For four years the Tories have attacked workers’ living standards and devastated public services with cuts and privatisation. They threaten to go even further in the next parliament.

As TUC general secretary Frances O’Grady put it at the Unite union policy conference earlier this month, “They want to finish what Margaret Thatcher started.”

And for trade union leaders such as O’Grady, the way to stop them is to make sure that Labour wins next year’s general election. She argued, “If the Tories win, the consequences will be horrific”.

Jul 08 09:36

Is your ATM safe? 'Invisible' ultra-thin skimmers that can steal your bank card details uncovered

They are a marvel of modern engineering - thin, virtually invisible, yet containing a computer and video camera.

Yet these tiny gadgets are causing major problems for banks - by 'skimming' credit card numbers and even recording PIN numbers.

The latest devices were revealed today as part of a new report from the European ATM Security Team (EAST), which warns they are already in use across Europe - with many of the fraudulent numbers being shipped to the US.

Jul 08 09:08

Russia approves creation of BRICS foreign exchange fund

The Russian Government signed a draft agreement on the creation of a $100 billion pool of currency reserves that the BRICS countries are forming to guard against financial shocks. According to the document, the countries’ dollar reserves will remain on the balance sheets of their central banks. However, these reserves can be made available at the request of one of the parties.

Webmaster's Commentary: 

2015 looks as though it will be a very nasty year for the US dollar.

Jul 08 09:02

Halbig v. Burwell: The next big Obamacare case

In brief, these cases claim the IRS has exceeded its statutory authority in authorizing tax credits and cost-sharing subsidies on federal exchanges because the PPACA only authorizes tax credits for the purchase of insurance on an exchange “established by the State under Section 1311.” Section 1311 instructs states to create exchanges. Federal exchanges are established under Section 1321 of the Act.

At one level these cases present a straightforward statutory interpretation question. The text is clear and does not contradict any other provisions in the Act. That would seem to settle the matter.

Jul 08 08:59

Feeling poorer through the power of inflation: Since January of 2000 college tuition is up 68 percent, new car costs are up 55 percent, your typical home is up 50 percent, and wages are simply not keeping up.

You have to love how the Federal Reserve downplays inflation when they are the primary source of it with other central bankers for this monetary phenomenon. They continue to play inflation down because it gives them the power to continue to use policies that seem to only aid their banking allies while making working Americans poorer by the day. Inflation has a slow eroding power that is not readily visible since it usually takes time to work through a system. Looking at a broader timeframe however it becomes readily apparent that inflation is hitting our system hard and most working families don’t need an advanced degree in economics to understand this. According to the CPI, the overall rate of inflation since January of 2000 has been 39 percent. The Fed prefers to use the PCE Deflator measure and this only has inflation running at a 31 percent rate.

Jul 08 08:41

Virtual Economy’s Phantom Job Gains are Based on Statistical Fraud

Washington can’t stop lying. Don’t be convinced by last Thursday’s job report that it is your fault if you don’t have a job. Those 288,000 jobs and 6.1% unemployment rate are more fiction than reality.

Jul 08 08:35

American Apparel, Creditor at Odds

Jul 08 08:32

The Deteriorating Economic Outlook

The third and final estimate (until the annual GDP revisions) of first quarter 2014 real GDP growth released June 25 by the US Bureau of Economic Analysis was a 2.9% contraction in GDP growth, a 5.5 percentage point difference from the January forecast of 2.6% growth. Apparently, the first quarter contraction was dismissed by those speculating in equities as weather related, as stock averages rose with the bad news.

Jul 08 08:29

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

Former Assistant Treasury Secretary Paul Craig Roberts wrote on June 25th that real US GDP growth for the first quarter of 2014 was a negative 2.9%, off by 5.5% from the positive 2.6% predicted by economists. If the second quarter also shows a decline, the US will officially be in recession. That means not only fiscal policy (government deficit spending) but monetary policy (unprecedented quantitative easing) will have failed. The Federal Reserve is out of bullets.

Or is it? Perhaps it is just aiming at the wrong target.

Jul 08 08:22

Currency Wars - Europe Seeks Alternative To 'Dollar Imperialism'

Today in Brussels the French Finance Minister, Michel Sapin, will start a debate with his EU counterparts on how the European Union can reduce its dependency on the U.S. dollar. Should the discussion find traction it may contribute to the ongoing monumental shift in global monetary economics with the gradual decline of the dollar as the global reserve currency.

Mr Sapin said in an interview with The Financial Times, “We [Europeans] are selling to ourselves in dollars, for instance when we sell planes. Is that necessary? I don’t think so. I think a rebalancing is possible and necessary, not just regarding the euro but also for the big currencies of the emerging countries, which account for more and more of global trade.”

The U.S. dollar has enjoyed reserve currency status for most of the past 70 years. This status confers enormous power to the dollar and allows the U.S. government to fund its trade deficits at very low cost.

Webmaster's Commentary: 

Today's meeting could put the US dollar into an industrial-strength world of hurt.

The DOW and NASDAC appear to be on a strong downward spiral at this point in the morning.

Jul 08 07:37

One Fifth Of Detroit To Be Bulldozed

We let the bums in DC destroy our country!

(Barbara Speed) Bad news for fans of ruin porn: Detroit is hoping to rid itself of its unique collection of dilapidated buildings and elegantly rubbish-strewn abandoned lots, and all within the next five years.

In May, a group ominously titled the “Detroit Blight Removal Task Force” released a report claiming that around 22 per cent of the city’s properties were “blighted” – vacant, damaged or considered dangerous. They also found that, of the 84,000 properties owned by public entities, just over 5,000 were occupied by squatters, making the city of Detroit, the report’s authors noted, “a very large and inadvertent landlord”.

The task force’s proposed solution is to demolish it all over the next five years and start again. Unfortunately, the plan doesn’t extend to rebuilding the properties – it’ll be down to private companies and developers to buy up the land and rebuild.

Jul 08 07:22

‘America using the dollar as a weapon’

The US mixes trade with politics using the dollar as a weapon in sanctions against Iran and Russia, trying to restrict these nations’ access to the US dollar, which creates mass imbalances, Chairman of the Bruges Group think tank, Robert Oulds, told RT.

Jul 08 06:53

How Recession-Proof Is Your Job Sector?

History suggests that previously sound assumptions about financial security and recession-proof sectors may not apply in the next recession.

Jul 08 05:45

Quayle: Big Changes Are Coming: “We Are Headed for a Crisis… of Biblical Proportions”

Well known author, commentator and radio host Steve Quayle says big changes are coming to the world. In an interview featuring Quayle on USA Watchdog, host Greg Hunter cites an apparent direct reference by International Monetary Fund head Christine Lagarde to numerology, a method of forecasting often associated with mysticism or the occult.

Jul 08 01:01

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

Jul 07 21:02

Obamacare faces another court threat — and this one could be fatal

The threats to Obamacare just keep on coming……

A case before the U.S. Court of Appeals in the District of Columbia may determine the Affordable Care Act was written in such a way that it prevents the federal government’s HealthCare.gov web site from offering subsidies.

Now such a ruling would have a long way to go before it actually would become enacted — and a lot of legal hoops would have to be jumped through — but such a finding could be a show-stopper for Obamacare. More than 5 million of the 8 million who signed up for Obamacare through the U.S. Department of Health and Human Services’ web site would thus not be eligible for tax credits. Most, presumably, would fall off the rolls of the insured.

Jul 07 20:08

Why Is Obama Encouraging Illegal Immigration When We Can’t Take Care Of Millions Of Our Own Citizens?

For years, the Obama administration has been making it abundantly clear that it is a friend of illegal immigrants. Border security is a joke, the federal government refuses to go after "sanctuary cities" even though they are breaking federal law, there is a website that instructs immigrants how to sign up for welfare programs once they arrive in the United States, and the Obama administration hasdistributed flyers that tell illegal immigrants that their immigration status will not be checked when they apply for food stamps. And Obama has even instructed officials to use "prosecutorial discretion" in deportation cases involving non-criminals. In other words, Obama has been flashing a huge green light to illegal immigrants, and so of course our borders were going to be inundated with them.

Jul 07 20:03

The Hubris of Trying to Eliminate Cash

People like hard currency and use it every day. It is a check on centralized power. It is private and peer-to-peer. And despite or because of that, some want to get rid of it.

Jul 07 19:26

Debt collectors manipulated your mood for decades before Facebook—they just never told you about it

Facebook’s efforts in 2012 to manipulate the emotions of its users for an academic study have left the kingpin social network struggling to explain its actions. Maybe part of their mistake was to publish. The 1960s debt collectors who conducted some very similar experiments were far less cavalier.

Jul 07 18:13

The Austerity Diaries: Creating a Budget...and Sticking to It

Lots of experts will give you excellent advice on how to create a budget. Creating a budget is actually pretty easy. You figure out what your expenses are, take this from your income, and then figure out what to do with the money you have left over.

Sticking to the budget...that's the tough part.

Jul 07 17:14

Why Paper is Doomed to Fail

Jul 07 16:48

ObamaCare Could Be On the Way Out Tomorrow, July 8th

the U.S. Court of Appeals for the District of Columbia Circuit could issue a decision in that case

Jul 07 16:35

Third immigrant plane lands in San Diego

Who needs buses?

US tax payers will pay to fly them elsewhere.

immigrants on the first plane were quarantined with active scabies and head lice.

The rest were released.

Jul 07 15:01

Paul Craig Roberts: "The US Economy's Phantom Jobs Gains Are A Fraud"

The decline in the employment-population ratio from 63% prior to the 2008 downturn to 59% today reflects the growth in discouraged workers

Jul 07 15:00

Banks Could Lose Monopoly On Gold Fix

Other industry groups such as miners may join process of setting crucial benchmark following allegations that process is open to rigging

Jul 07 14:58

Money Bubble Will Pop-John Rubino

Greg Hunter interview

Jul 07 14:08

Inflation: USA vs Japan

Jul 07 13:54

My Engelhard Bar Collection

Jul 07 13:43

Pro-Surveillance Mayor May Thwart City Council's Plan to Axe Red Light Cameras in Riverside, CA

The Riverside, CA City council recently recommended terminating the city's Photo Red Light Enforcement Program, but pro-Camera Mayor Rusty Bailey may veto the council's vote Tuesday night. Bailey has defended the cams by saying that they "help the police" and that people can get a "Payment plan" to help pay the nearly $600 fines. Contact Mayor Bailey now and let your thoughts about these big-brother revenue cameras be heard. The Council meeting is at 3pm on 7/8/14; the public can speak at the meeting.

Jul 07 13:36

The 17,000 Dow: Surging towards a disaster

The rise of Wall Street’s Dow Jones Industrial Average to an all-time high above 17,000 last week is another sign of the explosive contradictions building up within the American and global financial system.

Since hitting its low point of 6,547 on March 9, 2009 following the financial crash of September 2008, the Dow has climbed by more than 10,000 points, and is now over 250 percent what it was barely five years ago.

Jul 07 13:33

TEEN UNEMPLOYMENT RISES TO 21%

Jul 07 13:15

18 Signs That The Global Economic Crisis Is Accelerating As We Enter The Last Half Of 2014

central bankers are issuing frightening warnings about “dangerous new asset bubbles”

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.”

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