ECONOMY | WHAT REALLY HAPPENED


ECONOMY

Jan 16 07:39

These investments could get creamed in the Swiss avalanche

Now brace for everything you ever could have wanted to know about the country’s impact on global markets, but were afraid to ask. The whiz kids have had a few sleepless hours to think yesterday’s bombshell over, and some are worried about the after shocks.

Jan 16 07:33

Swiss National Bank Tells the World – “We’re Gettin’ Off This Train!”

Since 2008 the entire financial world has been turned upside down. In late 2011 the Swiss decided to peg their currency to the Euro, in essences giving up their national currency for the debt soaked Euro experiment.

When the Swiss pegged the Franc to the Euro, the Swiss people sold their sovereignty to the European Union. Approximately 22% of the people wanted their sovereignty back and voted on November 30, 2014 to repatriate their gold and reclaim their nation. Unfortunately, the other 78% (less the people that did not vote) said they were perfectly happy being debt slaves to their overlords at the European Central Bank. Thomas Jordan, the President of SNB, was actually campaigning AGAINST the gold repatriation movement, which in light of today’s announcement seems to be a contrarian move!! Why would a person vote against reclaiming their gold and then do a complete 180 degree turn against your own policy!!! This seems like it is going to have an ugly ending.

Jan 16 07:32

Shanghai Gold Exchange and World Gold Council partner to develop the Shanghai Free Trade Zone as the world's gold market

The parties say they will support the development of both domestic and international gold trading in the Asian nation by “leveraging the opportunity provided by the internationalization of the Chinese gold market, through the Shanghai Free Trade Zone, to support market expansion”, the WGC said.

Webmaster's Commentary: 

Which means that western banks will no longer be able to artificially suppress the price of gold any longer!

Jan 16 07:11

Increased Demand for Gold Following SNB Move: Goldcore

Mark O'Byrne, executive director at Goldcore Ltd., says there is increased demand for gold following yesterday's shock move by the Swiss National Bank.

Webmaster's Commentary: 

God-like status of central banks questioned. All paper currencies will continue to be devalued ...

Jan 15 21:05

Moscow... Or Geneva?

A month ago, when the Russian Ruble was crashing, developed nations were delighted to poke fun of Russians who lined up in front of currency exchange kiosks, supposedly to convert their rapidly devaluing Rubles into Dollars or other rising fiat.

Today, those same developed nation hecklers are deathly silent after what may be the biggest western central bank faux pas in recent history, and which in addition to sending the Swiss Franc soaring has - perhaps for the first time in history - manifested in lines of people in front of currency exchange bureaus nowhere else, but in that bastion of capitalism: Geneva.

Jan 15 21:01

Plunge in Treasury Yields Is Forecasting More Than Just Deflation

Plunging yields on U.S. Treasury notes and bonds, record low yields on the sovereign debt of countries in the European Union, together with plunging industrial commodity prices, are sending a crystal clear message to stock markets: there is a glut of supply and too little demand from consumers.

Jan 15 21:00

The Greek Bank Runs Have Begun: Two Greek Banks Request Emergency Liquidity Assistance

The first time the phrase Emergency Liquidity Assistance, or ELA, was used in the context of Greece was in August 2011, when Greece was imploding, when its banking sector was on the verge of collapse, and just before the ECB had to unleash a global coordinate bailout with other central banks including global central bank liquidity swap to preserve the Eurozone.

Jan 15 21:00

Russia picks new monetary policy chief as currency plummets

Russia's central bank replaced its head of monetary policy after President Vladimir Putin criticized the failure of emergency measures to halt ruble's decline.

Jan 15 20:59

Shanghai gold deals get a boost as WGC sets bullion free trade zone

The World Gold Council (WGC) and the Shanghai Gold Exchange (SGE) signed Thursday a memorandum of understanding to develop a Shanghai free trade zone for bullion and so encourage foreign participation in China's tightly controlled gold market.

The parties say they will support the development of both domestic and international gold trading in the Asian nation by “leveraging the opportunity provided by the internationalization of the Chinese gold market, through the Shanghai Free Trade Zone, to support market expansion”, the WGC said.

Jan 15 15:31

The Government Mafia Will Steal Everything You Own

The G20 told you on November 20, 2014, they plan to steal your bank account. Secretary of Treasury, Jack Lew, has positioned the federal government to steal back federal pensions and now your local police can rob you blind for the crime of going out in public.

Jan 15 14:19

Which state has half of its eligible adults not working? The dismal employment participation rate across the United States.

People have a hard time wrapping their minds around the fact that 93 million Americans are not in the labor. In December alone we added over 451,000 to this category. Much of this figure comes from people retiring and those simply not eligible to work but there is a disturbingly large number of people that are eligible for work and are simply lacking a job. There seems to be a perception that all of the people hitting retirement age are somehow prepared to weather the years of older age with a sizable nest egg. Nothing could be further from the truth.

Jan 15 13:51

House Passes Bill Further Weakening Financial Regulation

TRNN's Jessica Desvarieux looks at the key bill provisions benefiting Wall Street, and also examines the so-called opposition of Democratic lawmakers

Jan 15 12:59

Sony Canada to close all Canadian stores within 2 months

Sony is closing all its stores in Canada over the next six to eight weeks, the company announces in a statement today.

In an interview with CBC News, a spokesman for Sony Canada said he couldn’t disclose why the stores were closing, or how many stores and jobs will be affected.

Jan 15 12:17

Canada disses Obama, postpones meeting with U.S. over Keystone pipeline: report

The White House confirmed Thursday that Canada has postponed the North American Leaders Summit scheduled for next month but would not say whether tension over the Keystone XL oil pipeline is the reason.

Jan 15 11:48

Investors pile into gold after Swiss bank move

Gold prices jumped more than 2 percent after earlier hitting a 4-month high on Thursday as European shares and the dollar turned lower after a shock move by Switzerland to abandon its three-year cap on the franc sent Europe's shares and bond yields tumbling.

Jan 15 11:15

FLASHBACK 2013 - The International Monetary Fund Lays The Groundwork For Global Wealth Confiscation

The International Monetary Fund (IMF) quietly dropped a bomb in its October Fiscal Monitor Report. Titled “Taxing Times,” the report paints a dire picture for advanced economies with high debts that fail to aggressively “mobilize domestic revenue.” It goes on to build a case for drastic measures and recommends a series of escalating income and consumption tax increases culminating in the direct confiscation of assets.

Jan 15 11:09

‘Carnage’ In Financial Markets Boosts Gold As Safe-Haven Asset

Gold prices continued to show its safe-haven appeal as the Swiss National Bank unleashed, what one analyst described as, “carnage” in the marketplace.

Overnight, February Comex gold futures hit a four-month high of $1,261 an ounce after the Swiss central bank said that it would no longer support its peg against the euro. The central bank has maintained a floor of one euro to 1.20 Swiss francs since 2011.

February gold continues to hold on to most of its gains, currently trading at $1,259.00 an ounce, almost 2% on the day.

Jan 15 10:00

Swiss mess could make oil plunge seem like minor hiccup

While you were sleeping, all hell broke loose in Switzerland, as the central bank ditched its currency cap against the euro after four years and slashed interest rates to negative 0.75%. The Swiss franc is rallying wildly, while the Swiss stock market is cratering and U.S. stock futures are mostly on the losing side as investors figure out this latest shock to the markets

Jan 15 09:09

Initial Jobless Claims Surge Above 300k, Highest Since June 2014

Tumbling retail sales and now surging jobless claims... perhaps the "low oil is awesome" narrative is not true after all. Initial Jobless claims surged to 316k (smashing expectations of 290k) and has not been higher since June 2014. The BLS reports no unusual activity - so economists can't hust shrug this one off. Details on state-by-state job losses are lagged a week so we will not know if this is Shale Oil region-related but yesterday's Beige Book and day after day of announced job cuts by the energy sector suggest it is.

Jan 15 09:08

Caesars places largest operating division into bankruptcy

The unraveling of the complicated financial structure of Caesars Entertainment Corp. began Thursday when the casino operate placed its largest operating division into bankruptcy, taking the initial steps to eliminate almost $10 billion of company’s gaming industry high debt.

Jan 15 08:14

Target announces plans to exit Canadian market

Target Corp said Thursday it would shut down its Canadian operations, ending long-term speculation over the viability of the struggling business.

Target Canada has 133 stores and employs some 17,600 people. Target Corp said it would report $5.4 billion in pre-tax losses on discontinued operations in the fourth quarter.

Jan 15 07:15

Russia’s presidency aims at turning BRICS into full-fledged cooperation tool

One of the major goals of Russia’s presidency will be implementing the BRICS decisions on setting up its own financial institutions, namely the New Development Bank and a currency reserve pool

Jan 14 22:10

C. Wonder is closing all of its stores

The preppy lifestyle brand started by Tory Burch’s ex-husband, Chris Burch, is shutting down its remaining locations ‘due to the highly competitive nature of the current retail environment,’ a spokesman said.

Jan 14 22:10

Jacksonville-based Body Central closing all of its 265 stores; 2,500 out of work

Just two days after it warned that it might file Chapter 11 bankruptcy, Body Central is shutting all of its stores and headquarters completely.

Jan 14 22:04

RadioShack prepares bankruptcy filing

Struggling consumer electronics retailer RadioShack Corp. RSH, -12.56% is preparing to file for bankruptcy protection as soon as next month, according to people familiar with the matter.

Jan 14 19:52

PATHETIC SPIN - Russia Is Losing Control Over The European Gas Market

Oil isn't Russia's only problem.

The energy exporter is losing its dominance over the European gas market.

Webmaster's Commentary: 

Russia isn't losing anything. They shut off the valves today for non-payment of the bill!

Jan 14 11:42

First 'Charlie Hebdo' issue since attack sells out

The first edition of Charlie Hebdo since terror attacks in Paris last week left 17 people dead sold out at newsstands across France shortly after going on sale Wednesday.

Webmaster's Commentary: 

Wow! That is really impressive when you think about it. One week ago, Charlie Hebdo was broke, asking for donations, and struggling to publish less than 50,000 copies of their magazine. Then their offices were attacked, their staff severely reduced, the survivors traumatized, and here we are just one week later with 3 million printed magazines in 16 languages all delivered to the newstands around the world?

Anyone who has ever worked in publishing knows this is an impossible feat. The lead time for content creation, translation into 16 languages, layout for those 16 versions, adding of additional printing resources, and supply chain time, all suggest this new issue had to be in production before last week's attack!


Jan 14 11:03

Jamie Dimon Says Banks Are Under Assault As He Announces $4.9 Billion Profit

We should all do so well while under assault.

JPMorgan Chase earned $4.9 billion in the fourth quarter of 2014, the company announced on Wednesday, down from a year ago, but capping what CEO Jamie Dimon called a record year for the biggest U.S. bank by assets.

Despite this success, Dimon warned that "banks are under assault," from government regulators.

Jan 14 11:00

US Capable of Imposing Secondary Sanctions on N Korea Allies:US Congressman

The US Treasury Department has the authority to impose secondary sanctions on foreign entities, working with the DPRK, but the Obama’s administration does not appear willing to expand its interpretation of the executive order.

Webmaster's Commentary: 

Probably because every time the US sanctions someone, they run off to join BRICS!

Jan 14 10:55

With Ukraine Default Risk At 6 Year Highs, US Taxpayers "Volunteer" To Guarantee Its Debt

Just two days ago we detailed the possibility that Russia could accelerate debt repayment on a $3 billion loan it granted to Ukraine that has broken its covenants. While there is no word yet from Russia on a decision whether to demand the payment, it appears, as Reuters reports, the US taxpayer - just as we warned - is quite willing to step up (thanks to their leaders in Washington) and guarantee $2 billion in loans to the world's 2nd most credit risky nation (after Venezuela).

Webmaster's Commentary: 

How sweet of those generous American taxpayers!

Jan 14 10:25

Massive search underway for top AIG exec who disappeared from his Marriott Hotel room as police discover his wallet and jacket on golf course

Police are using bloodhounds and divers as part of a huge search for a missing AIG executive, last seen at a Californian hotel on Thursday.

Omar Arce Meza, 33, from Los Angeles, was last seen at around 11pm at the JW Marriott Desert Springs Resort in Palm Desert.

Police divers have searched a pond at the hotel, but to no avail. They have, however, found his jacket and wallet on the hotel golf course.

His wife, Diane, described him as ‘highly responsible and reliable’, with his disappearance completely out of character.

Jan 14 10:22

Food Stamp Beneficiaries Exceed 46,000,000 for 38 Straight Months

The number of beneficiaries on the Supplemental Nutrition Assistance Program (SNAP)—AKA food stamps--has topped 46,000,000 for 38th straight months, according to data released by the Department of Agriculture (USDA).

Webmaster's Commentary: 

We're in an "economic recovery", MY ASTROLABE!!!!!

Some corporations may be doing better; but they are laying off employees; reducing employee benefits; parking large wads of cash off-shore (Luxembourg is the poster-child for this activity); and have armies of accountants and lawyers to find every possible loophole to make this possible.

Jan 14 10:20

House votes to cancel Obama amnesties

Brushing aside Democrats’ warnings of permanent political doom, House Republicans voted Thursday to cancel President Obama’s deportation amnesties, casting it as an effort to undo a runaway White House untethered either to the Constitution or even to its own words and promises.

In a debate freighted with political, symbolic and constitutional significance, House Speaker John A. Boehner read the 22 times Mr. Obama had denied he had the kinds of executive powers he ended up claiming last year when he announced his new amnesty, which applies to millions of illegal immigrants, granting them tentative legal status and work permits so they can compete legally for jobs.

Jan 14 10:20

The Perfect Storm for Wall Street Banks

JPMorgan Chase reported 2014 fourth quarter earnings this morning, missing analyst estimates. Analysts had expected $1.31 per share while the actual number came in at $1.19. Listening to the conference call this morning, there was the impression that the $1.19 would have been worse had the bank not released loan loss reserves in a number of business areas.

Jamie Dimon, CEO of JPMorgan Chase, was back to characterizing the bank’s P&L as the “fortress balance sheet.” The London Whale credit derivatives traders almost blew up the fortress in 2012 and the markets are becoming skeptical as to just how much visibility there is on energy and emerging market loans souring on the books of the mega Wall Street banks.

Jan 14 09:13

Stocks plunge as retail sales, JPMorgan disappoint

Stocks tumbled in early trading Wednesday after a weak reading on December retail sales and a profit miss from JPMorgan added to investor worries.

Webmaster's Commentary: 

THE PLUNGE PROTECTION TEAM GOES INTO ACTION!

Jan 14 08:15

Obama targets oil and gas industry, demands massive reduction in methane emissions

Taking direct aim at the oil-and-gas industry, President Obama on Wednesday put forth long-awaited regulations on methane emissions, setting an ambitious goal of reducing those emissions by 45 percent over the next decade.

The move comes just days before the State of the Union address and underscores that, in the final two years of presidency, Mr. Obama is looking to cement his legacy on climate-change and environmental issues.

Webmaster's Commentary: 

It's a laudable goal but Obama's timing sucks. Right now the entire oil industry is being hammered by this ill-conceived oil price war against Russia. The very last thing they need is a whole new raft of "Obamaoil" regulations that will escalate costs, all in the name of controlling climate change, which changes no matter what we humans do. Methane in the atmosphere does not persist. In the presence of oxygen it decomposes to water and carbon dioxide, the first being what we need to live and the latter being what plants need to live. This underscores an observation I have been making all along; that the quality of thinking in this administration is rather poor. Policy decisions are being made for political (and in this case historical) reasons but are not thought all the way through to find potential negative consequences!

Jan 14 07:46

US retail sales weak, cast a cloud on consumer spending

A gauge of U.S. consumer spending unexpectedly fell in December as demand fell almost across the board, but that is probably not the start of a weak trend given lower gasoline prices and a firming labor market.

The Commerce Department said on Wednesday retail sales excluding automobiles, gasoline, building materials and food services fell 0.4 percent last month after a 0.6 percent rise in November.

Jan 13 12:18

Stocks surge as Dow up more than 200 points

Webmaster's Commentary: 

There was a huge upshove at the opening bell, but as of midday, it's already falling off again, as of this writing, down -129 and dropping. Investors are no longer viewing PPT manipulations as a signal to buy, but as a signal to sell!

Jan 13 10:35

Andrew Hoffman – The Whole World is Falling Apart

If you follow the markets and you follow the unemployment numbers–they go hand-in-hand in my opinion–then you know the unemployment numbers from Friday January 9 were a complete joke. Once you drill down, just slightly below the surface, you begin to see the actual numbers and not the numbers designed to get Steve Liesman over at CNBC giggling like a little girl and tell everyone about the rainbow-spewing unicorns that greeted him this morning.

Webmaster's Commentary: 

Jan 13 10:27

Homebuilders Plunge From First To Worst As 'Efficient Stock Market' Wrong Again

But, but, but... homebuilder stocks were surging early on - just like they did at one point yesterday - proving that 'they' know something right? Right? Homebuilders are now the biggest losers - down 3% from the highs - as KB Home's conference call slashes guidance, pulls land deals, and expects margin compression...

Jan 13 09:28

Deflation and Central Bank Delusions

Is it sensible to pay insolvent banks to hold your currency? Negative interest rates are now common.

Is it sensible to lend your savings to insolvent governments for 10 years at 2% interest or less when history shows us that the purchasing power of the currency will decrease far more than 2% per year?

Is it sensible that the time value of currency is effectively zero? Zero or negative interest rates are not a sign of economic health.

Jan 13 08:16

Press Release: The World Bank and the IMF Open up Ukraine to Western Interests

A new report from the Oakland Institute, Walking on the West Side: the World Bank and the IMF in the Ukraine Conflict,exposes how the international financial institutions swooped in on the heels of the political upheaval and are vying to deregulate and throw open Ukraine’s vast agricultural sector to foreign investors. Former Ukrainian President Viktor Yanukovych’s rejection of an EU Association agreement in favor of a Russian deal was a major factor in the crisis that led to his ouster in February 2014. Immediately following the change to a pro-EU government, the country’s pivot to the West was solidified with a $17 billion loan from the International Monetary Fund (IMF) and an additional $3.5 billion aid package from the World Bank, both of which require significant economic reforms and austerity measures that are set to have disastrous effects within the nation.

Jan 13 08:15

Ukraine Agreed to a Monsanto “Land Grab” to Get a $17 Billion Loan from the International Monetary Fund (IMF)

The World Bank and International Monetary Fund (IMF) is helping biotech run the latest war in Ukraine. Make no mistake that what is happening in the Ukraine now is deeply tied to the interests of Monsanto, Dow, Bayer, and other big players in the poison food game.

Monsanto has an office in Ukraine. While this does not shout ‘culpability’ from every corner, it is no different than the US military’s habit to place bases in places that they want to gain political control. The opening of this office coincided with land grabs with loans from the IMF and World Bank to one of the world’s most hated corporations – all in support of their biotech takeover.

Jan 13 07:37

2,000 jobs threatened as United mulls outsourcing at US airports

Parent company’s stock has underperformed Delta, where there is less union representation.

Jan 13 07:25

Scientists join Elon Musk & Stephen Hawking, warn of dangerous AI

Hundreds of leading scientists and technologists have joined Stephen Hawking and Elon Musk in warning of the potential dangers of sophisticated artificial intelligence, signing an open letter calling for research on how to avoid harming humanity.

Webmaster's Commentary: 

Jan 12 13:41

US fast-food chain Carl's Jr. closes restaurants in Russia

California-based fast-food chain Carl's Jr. announced on Monday plans to shut down more than 30 outlets in three Russian cities amid a volatile economic environment.

Jan 12 11:36

Big oil stocks send Dow tumbling

The eurozone euphoria that is driven by quantitative easing talk is not felt in London as natural resource stocks weigh on the British market.

Oil and mining stocks are leading the FTSE 100 lower as turmoil in the commodity markets has taken the shine off the European Central Bank easing chatter.

Jan 12 11:23

Ditching the Dollar

One of the symptoms of a declining empire is that it becomes less and less productive and therefore less relevant to other countries. Any empire, whilst in its prime, will have a strong currency. As its productive relevance declines, so will its currency. Invariably, its leaders attempt to keep the currency strong, in spite of the decline in national relevance. Rather than return to a more productive condition, the empire almost invariably resorts to force.

The US has been unusually forceful in this regard. In order to retain the dollar as the currency upon which oil is denominated and paid for, the US has attacked countries (Iraq, Libya) when their leaders have announced that they will, in future, accept other currencies or gold as payment for oil.

Jan 12 07:59

Obama Lied About His Intent to Prosecute Wall Street Banksters

Two recent reports show that Obama and his Administration lied when they promised to prosecute Wall Street executives who had cheated outside investors and deceived homebuyers when selling mortgages to them.

Jan 12 07:58

Indiana town moves to seize over 350 homes to make room for private developer

A town is working to “demolish a working-class neighborhood” by seizing 354 homes and passing the land off to a private commercial developer. Using federal dollars and the highly-abused power of eminent domain, the city intends to evict multitudes of families to make way for economic progress.

The community under fire is called “Pleasant Ridge.” It contains hundreds of small homes that were built during World War II as military housing. Today the homes are privately-owned and contain working-class and poor families, many of which have owned their homes for decades.

The City of Charlestown intends to demolish the community in order to allow new commercial and residential real estate to be built in its place — privately-owned real estate.

Jan 12 07:24

New study paints bleak picture of manufacturing rebound

One of the most encouraging aspects of the U.S. economic recovery is the halo effect on manufacturing, which accounts for 1 in 6 private-sector jobs. Yet a new study is dismissing that renaissance as little more than a "myth."

Jan 11 09:45

Fox news host makes joke about being homeless

Jan 11 09:43

Central Bankers Push The Recovery Illusion Before The False Flag Event

Jan 09 16:18

Cantor Fitzgerald: Apple Watch Will Be Biggest Product Launch In Company's History

Even after having a super holiday season sales, shares of Apple Inc. AAPL 0.11% have witnessed significant declines. However, Cantor Fitzgerald analyst Brian White thinks that the going will be great for Apple in 2015, especially after the Apple Watch release.

Webmaster's Commentary: 

They said the same thing about Google Glass.

Jan 09 11:24

Russia and China: The Dawning of a New Monetary System?

China, leading member of the BRICS, is lining up the bloc of the BRICS and that of the SCO – and their currencies – to support Russia in need. Currency swaps between Russia (ruble) and China (yuan) for an initial US$ 25 billion equivalent have already been implemented, to allow direct transactions between the two countries. Similar swaps are under way between China and Russia with other countries, primarily the BRICS and the SCO (Shanghai Cooperation Organization) members – including the soon to become new members – Iran, Pakistan, India (also a BRICS member) and Mongolia – and possibly in some not too distant future also strategically located NATO member Turkey.

Jan 09 10:34

Coca-Cola to Cut 1,600-1,800 Jobs Globally

oca-Cola Co. is axing at least 1,600 white-collar jobs globally as part of a cost-cutting move in response to sluggish soda sales.

Jan 09 09:52

Euro sinks to fresh nine-year low

The euro has hit a fresh nine-year low against the dollar, in part after a surprise decrease in German manufacturing.

Jan 09 08:04

How Goldman Sachs May Provoke Yet Another Major Financial Crisis

Greece and the troika (the International Monetary Fund, the EU, and the European Central Bank) are in a dangerous game of chicken. The Greeks have been threatened with a “Cyprus-Style prolonged bank holiday”if they “vote wrong.” But they have been bullied for too long and are saying “no more.”

Jan 09 07:49

"Europe Can't Afford A Greek Exit" German Opposition Warns Merkel Is "Playing With Fire"

The mainstream media narrative - that Germany is ready and prepared for Grexit and that it is no longer a threat to financial stability - is all hype, according to German opposition finance minister Joachim Poss. As Bloomberg reports, all that is mostly posturing for an electorate tired of the aid and angst Greece has demanded since 2010. Simply put, the potential for Euro instability from a Grexit is a detriment to Germany's massive benefits from the single currency - "Europe can’t afford a Greek exit," Poss concludes, complacency by Merkel is "playing with fire."

Jan 09 07:25

‘I can fix EU problem’: Cameron in Merkel reform talks

British Prime Minister David Cameron says he is “convinced” he can mend the relationship between Britain and the EU, as pressure grows to call a referendum on UK membership.

Jan 09 07:24

IMF mission resumes work in Ukraine

An IMF mission has arrived in Ukraine to resume talks on providing financial assistance to the country, which is on the brink of default. The IMF estimates Kiev needs an extra $15 billion of aid to overcome the crisis.

Webmaster's Commentary: 

"Bend over and spread 'em, Vlad!"

Jan 08 15:43

Russia Blamed, US Taxpayers on the Hook, as Fracking Boom Collapses

As Congress removes restrictions on taxpayers bailing out the too-big-to-fail banks, the right is blaming environmentalists and Russia for the demise of the fracking boom. In reality, the banks' junk bonds and derivatives have flooded Wall Street, and now the fracking bubble threatens another financial crisis.

Jan 08 14:44

House passes 40-hour workweek for Obamacare; Dems buck Obama veto threat

The House passed a bill Thursday that defines full-time work under Obamacare as a traditional 40 hours, with a dozen Democrats choosing to rebuff President Obama’s veto threat before the measure heads for a tougher test in the Senate.

Jan 08 13:44

Mark Levin warns: Obama preparing country for coup against Constitution

Earlier this week, conservative talk show host Mark Levin warned that Barack Obama is campaigning and preparing the country for what amounts to a coup against the Constitution over the debt ceiling, Breitbart.com reported Sunday.

Levin said that it's clear Obama has moved on from the shutdown and is now focused on the debt ceiling, paving the way for low-information liberals to support him as he bypasses Congress and unilaterally seizes control of the nation’s economy, Dr. Susan Berry wrote..

Webmaster's Commentary: 

Jan 08 13:39

Putin’s Opportunity to Bust the US Petro Dollar

President Putin is known to be a master at Martial Arts and appears to be using the principles of Ju-Jitsu to topple the Western Banks, especially in regard to his support of the BRICS Development Bank.

brics-logo-320x116The new BRICS Development Bank is now up and running now, is part of his master chess strategy, and is known to be seriously stressing the US Petro Dollar.

The BRICS Banking System is known to be based on Gold, Silver and real commodities unlike the Rothschild’s largest Franchisee the Federal Reserve System.

Jan 08 12:56

Scotiabank Warns The Fed "Put" Is Now Much Further Out-Of-The-Money

The brilliant Mel Brooks 1974 parody Young Frankenstein ranks No. 28 on Total Film magazine’s list of all-time funniest movies. When QE-infinity was first announced, I drew analogous similarities between the monstrous experiments of Dr. Frankenstein (Dr. F) and the Fed.

In the movie, it was only after the monster went berserk that Dr. F (Gene Wilder) learned that Igor had snatched the “Abby Normal” brain. Clearly, even the most well-intentioned experiments can have unintended consequences. In this vein, the Fed created a financial market monster via six years of ‘pedal to the metal’ Fed stimulus designed to encourage risk-taking and speculation, and like Dr. F, the Fed was confident it had the tools to control it. Unfortunately, history will likely view QE- infinity as the “Abby-Normal” brain that sent its grand experiment awry.

Jan 08 12:56

Saudi War On Shale Goes Nuclear - "No Chance OPEC Will Cut Output" Even With Brent Under $50

For those hoping that the recent brief dip in Brent crude below $50 - most notably Venezuela's intrepid socialist leader Nicolas Maduro whose numbered days get shorter with every day Brent closes red, and countless bondholders of junk- debt capitalized shale companies - would mean that Saudi Arabia's vendetta against OPEC would finally be put on hiatus, we have bad news: the vendetta just wen nuclear because as Reuters reports, there is "no chance of OPEC output cut."

As Reuters further adds, Saudi Arabia and its Gulf OPEC allies are showing no sign of considering cutting output to boost oil prices, despite Brent's dip below $50 a barrel this week, where it is surely headed once again in the coming days.

Jan 08 12:23

FORT KNOX: Tainted With Radioactive Gold?

Workers used hammers and acetylene torches to strip away bits of gold and other metals from the warheads’ corrosion-proof plating and circuitry. Useless parts were dumped into trenches. But the gold – some of it still radioactive – was tossed into a smelter and molded into shiny ingots.

Exactly what happened next is one of the most intriguing questions to arise from a workers’ lawsuit against the former operators of the U.S.-owned uranium plant in western Kentucky. Three employees contend that the plant failed for years to properly screen gold and other metals for radioactivity. Some metals, they say, may have been highly radioactive when they left Paducah, bound perhaps for private markets.

Webmaster's Commentary: 

"So all you nations asking for your gold back; you should shut up, because we are saving your lives by not sending it back to you!" -- Official White Horse Souse

Jan 08 12:17

Coke To Fire 1800, Caterpillar Laying Off 200

Stocks are up nearly 2% today alone, with the S&P back to green for 2015. Among the reasons for today's rally: lower overhead courtesy of KO and CAT, which announced that between the two of them, they would fire some 2,000 workers, which is great news for stocks if not for actual employees as there will be even more dry powder for another record quarter of stock buybacks.

Jan 08 11:31

Obamacare causing massive wave of hospital closures across USA

A number of acute-care hospitals closed across the United States last year -- 18 to be exact -- and experts who see a raft of new regulatory processes being heaped upon the healthcare industry in the coming years, thanks to the Affordable Care Act, believe that a wave of additional closures are ahead.

Jan 08 11:31

Russia to Lease Bomber Jets to Argentina. Deal Spooks UK

Russia replaced EU food imports with those from Argentina. It will partly pay for them by leasing a squadron of Su-24 attack aircraft

Webmaster's Commentary: 

Another unforeseen consequence of the oil price wars!

Jan 08 09:41

$200 bn in debt looms over American oil and gas

Plummeting Brent oil prices are putting pressure on North American shale, which has sunk hundreds of billions of dollars into investment, and could soon come crashing down.

Jan 08 09:21

Delaware man's Christmas gift to 5 homeless people thwarted

A Delaware man says he's devastated after a luxury hotel thwarted his plan to give five homeless people a warm bed and a hot shower on Christmas night.

Matt Senge of Newark tells WDEL-AM (http://bit.ly/1yEKsoR ) he booked a two-bedroom suite at the Hotel du Pont in Wilmington for $639 on Christmas and told hotel managers and the reservation clerk about the gift.

He says everyone was enthusiastic and supportive, and that he got an email confirmation about the room. But three hours before check-in - after Senge told the homeless people about the gift - Senge says the hotel called to say the reservation was canceled because of safety concerns for other guests.

Jan 08 09:21

2015: Everything Can Be Fixed By Printing More Money

It is tiresomely obvious that we live in an era dominated by the idea that virtually all economic difficulties can be fixed by printing more money. There are various means of distributing the new money, but the dominant ideology is really very simple:whatever the problem might be, the solution is to print more money and/or issue more credit.

If the problem persists, clearly, we didn't print enough money/credit.

Jan 08 09:16

Did The World's Biggest Hedge Fund Just Go "All In" On HFT And Dark Pools?

Is the world's biggest hedge fund going all-in on HFT and Dark Pools? We ask because Ray Dalio's Westport, CT-based Bridgewater, which at last check manages around $160 billion between its Pure Alpha and All Weather fund products, and which according to preliminary data had a solid performance in 2014, has just hired Jose Marques, the former global head of the quant and algo-heavy electronic trading at Deutsche Bank, to become Bridgewater's new head of trading.

Jan 08 09:14

Eurozone Falls Into Deflation; ECB About to Do Something Stupid

Economists are in shock over what should be a welcome event. Deflation is exactly what consumers need. Some say this increases the likelihood the ECB will act on January 22.

Actually, it does nothing of the kind. The ECB is already 100% certain to do something counterproductive, and odds cannot exceed 100%.

Jan 08 09:14

U.S. Government/Central Bankers Using False Flags To Keep Coalition Countries In Line

Jan 08 08:32

62% of Americans can't cover unexpected expenses

Car accidents, unexpected medical bills, an emergency plumber visit—there are all sorts of events that can interfere with even the best budget plans.

But according to a study released Wednesday, more than 60 percent of Americans do not have enough rainy day funds set aside to deal with even minor calamities.

Jan 07 21:35

France to make a choice between NATO and Russia

France faces a tough decision to either deliver two Mistral ships to Russia and face the anger of its NATO allies, or to terminate the Mistral deal, paying a heavy price and further deteriorating its economy

Jan 07 16:46

The First Shale Casualty: WBH Energy Files For Bankruptcy; Many More Coming

"There are too many ugly balance sheets," warns one energy industry analyst, adding simply that "the group is not positioned for this downturn." While the mainstream media continues to chant the happy-clappy side of lower oil prices, spewing various 'statistics' about how the down-side of low oil prices is 'contained' and the huge colossal massive tax cut means 'everything is awesome' for America, the data - and now actions - do not bear this out. Macro data has done nothing but disappoint and now, we have the first casualty of the shale oil leverage debacle as WSJ reports, on Sunday, a private company that drills in Texas, WBH Energy LP, and its partners, filed for bankruptcy protection, saying a lender refused to advance more money. There are many more to come...

Jan 07 14:29

Target to close Northland Center store in Metro Detroit; mall on DeadMalls.com endangered list

The Target Corporation has plans to close a store Feb. 1 that's part of a Metro Detroit mall that's on DeadMalls.com's endangered list.

Jan 07 13:25

WORLD WAR III: Anglo-American Axis vs. BRICS Alliance

The current economic and currency crisis in Russia isn’t your typical economic crisis. That is, this isn’t just a part of the business cycle. And it isn’t something that is happening because demand for oil is up or the supply of oil is down.

This is a two-pronged attack by the U.S. — and it is a desperate one, at that.

Jan 07 10:55

ALL WARS ARE BANKERS' WARS!

"If my sons did not want wars, there would be none." -- Gutle Schnaper, wife of Mayer Amschel Rothschild and mother of his five sons

Webmaster's Commentary: 

Today's shooting in Paris has all the hallmarks of another government false-flag to revive the war fever in the minds of those who will pay and die for it, so I figured it was time for a repost of this article.

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Jan 07 09:35

Russia faces 'perfect storm' as reserves vanish and derivatives flash default warnings

BNP Paribas says Russia no longer has enough reserves to cover external debt and enters this crisis 'twice as levered' as it was before the Lehman crash

Jan 07 09:32

Poor $87 Billion Boeing Fears Losing Sales If Feds Stop Helping Them Out

Boeing is concerned that its long-term sales will suffer if conservative Republicans succeed in killing the Export-Import Bank this year.

Jan 07 09:32

FLASHBACK 2005 - RUSSIA PAID OFF ITS DEBT TO IMF AHEAD OF SCHEDULE

Russia has paid off the entire amount of its debt to the International Monetary Fund (IMF) ahead of schedule, announced Russian Finance Minister Alexei Kudrin during a press conference at RIA Novosti on Tuesday.

"In accordance with a directive of the Russian government we paid off Russian foreign debt to the IMF in the amount of $3.3 billion. The sum has been transferred and we are no longer IMF debtors," he said

Webmaster's Commentary: 

So why is corporate media screaming about how much debt Russia is in?

Jan 07 09:08

EU Showdown: Greece Takes on the Vampire Squid

Greece and the troika (the International Monetary Fund, the EU, and the European Central Bank) are in a dangerous game of chicken. The Greeks have been threatened with a “Cyprus-Style prolonged bank holiday” if they “vote wrong.” But they have been bullied for too long and are saying “no more.”

A return to the polls was triggered in December, when the Parliament rejected Prime Minister Antonis Samaras’ pro-austerity candidate for president. In a general election, now set for January 25th, the EU-skeptic, anti-austerity, leftist Syriza party is likely to prevail. Syriza captured a 3% lead in the polls following mass public discontent over the harsh austerity measures Athens was forced to accept in return for a €240 billion bailout.

Austerity has plunged the economy into conditions worse than in the Great Depression. As Professor Bill Black observes, the question is not why the Greek people are rising up to reject the barbarous measures but what took them so long.

Webmaster's Commentary: 

I just hope that the head of this opposition party, Alexis Tsipras, is wearing his Kevlar undies these days.

The real danger here is not Greece pulling out of the EU, but the way in which it will trigger credit default swaps, which could have a global impact, crashing the Euro.

Jan 07 09:04

EU Showdown: Greece Takes on the Vampire Squid

Greece and the troika (the International Monetary Fund, the EU, and the European Central Bank) are in a dangerous game of chicken. The Greeks have been threatened with a “Cyprus-Style prolonged bank holiday” if they “vote wrong.” But they have been bullied for too long and are saying “no more.”

A return to the polls was triggered in December, when the Parliament rejected Prime Minister Antonis Samaras’ pro-austerity candidate for president. In a general election, now set for January 25th, the EU-skeptic, anti-austerity, leftist Syriza party is likely to prevail. Syriza captured a 3% lead in the polls following mass public discontent over the harsh austerity measures Athens was forced to accept in return for a €240 billion bailout.

Austerity has plunged the economy into conditions worse than in the Great Depression. As Professor Bill Black observes, the question is not why the Greek people are rising up to reject the barbarous measures but what took them so long.

Jan 07 09:01

You can’t make this up: Harvard professors in “uproar” after learning Obamacare applies to them

For years, Harvard’s experts on health economics and policy have advised presidents and Congress on how to provide health benefits to the nation at a reasonable cost. But those remedies will now be applied to the Harvard faculty, and the professors are in an uproar.

Jan 07 07:51

The Economies Of The Private Western Central Bank Countries Are Showing Signs Of Collapse

Euro zone is slowing and heading for a deep depression. France is desperate thinking about selling artwork.Iceland to withdraw EU application. Factory orders decline again.Malls closing down across country. White House implement a gas tax.U.S. Senator Bernie Sanders demands to read the TPP. Harvard Obamacare architects furious that they need to take Obamacare. South Korea claims NK has nuclear weapons that can reach US. U.S. training FSA to fight Assad not Islamic State. Governments catching on that the US is dropping supplies for the Islamic State.

Jan 07 07:08

Ontario auditor breaks new ground with review of public-private partnerships

Lysyk's report found that the use of public-private partnerships (P3s) had cost Ontarians $8 billion more than they would have paid if the projects had been financed with traditional public funding.

Jan 07 07:06

Fed-Propped Oil Prices Tumble. Stocks and Real Estate Next.

Jan 06 17:12

Financial Trickery Keeps This System Afloat… For Now…

We have long suspected that the multi trillion dollar derivative complex will be the proverbial straw that breaks the camel’s back. Although the financial trickery may still have years left of smoke and mirrors display, the moment of reckoning is palpable for many of us. Phantom assets are liabilities. This includes any ‘money’ locked up in the system. Once the markets collapse and layoffs surge (heaven forbid hyper-inflation), mainstream America will be begging for tax free government bonds in exchange for their retirement accounts and a system bailout. Protect yourself accordingly...

Jan 06 13:07

The American Dream no longer involves owning a home: Record number of young living at home and rents increase while income falls.

Many Americans are now sour to the notion of owning a home. How many young adults lost their homes or saw their parents struggle to make the monthly mortgage payment? The mindless banter of “housing never goes down” is now lost on this current generation. What is interesting is that home values have gone up, rents have gone up, but the overall homeownership rate has fallen in line with incomes. And of course, rents are being jacked up while incomes flutter.

Jan 06 13:06

American Winter

"Using a mix of hard facts and personal stories, American Winter is too compelling to ignore." - Indiewire

"Wrenching" - Washington Post

"Finally, a movie has arrived that shows the precariousness of the US economy for the majority of Americans, refusing to distinguish between a deserving and non-deserving poor" - Greg Kaufman, The Nation

“...A very vivid snapshot of what life was like for many formerly middle-class families. Families that, amid the deepest valley of the economic downturn, were having trouble keeping it all together." - APM's Marketplace

"Powerful and timely" - NBC's In Plain Sight

"A thoughtful and confrontational exploration of poverty" - Daily Kos

Webmaster's Commentary: 

Claire and I stumbled across this documentary last night, and it is everything the above quotes say it is. This is a film you must watch, and show to anyone who still thinks America is the greatest nation on Earth. That Americans are being forced to live like this by the money-junkies underscores everything that has gone wrong with the Federal Government.

Jan 06 12:59

Under Obama: Federal Debt Up $84,266 Per Full-Time Private-Sector Worker

The federal government drove $789,473,350,613.20 deeper into debt in calendar year 2014, an increase that equaled $6,875 per household, $7,458 per full-time year-round worker, and $8,853 per full-time year-round private-sector worker.

According to the Treasury, the debt started calendar year 2014 at $17,351,970,784,950.10 and ended it at $18,141,444,135,563.30.

When Obama took office on Jan. 20, 2009, the debt was $10,626,877,048,913.08. Since then, it has increased $7,514,567,086,650.22--which is $65,443 per household, $70,985 per full-time worker and $84,266 per full-time private-sector worker.

Jan 06 12:56

Greek Bonds Tumble As Report Sees "Decisive Victory" For Syriza

As The FT reports, forecasting group Oxford Economics says it has carried out an "in-depth" analysis of opinion polls ahead of Greece's snap general election on January 25, which shows that the radical Syriza party is on course to win a "clear mandate" to push through anti-austerity policies. Will German worry now?

Webmaster's Commentary: 

EVERYONE will worry. Syriza's majority is too large to defeat with election fraud. There may even be assassination attempts on their candidates. But when Syriza wins, Greece will follow Iceland's example and simply write off that portion of Greek debt attributable to fraud, which is about half of it. Greece may even leave the EU. And either case will start to trigger those credit default swaps, and while the bankers are in a position to deny the faults, doing so will collapse the derivatives market.

Jan 06 12:50

Russian Default Risk Surges To New 6-Year Highs As Ruble Rubble Returns

Just when you thought it was all over... Having bounced post-CBR intervention and somewhat stabilized, the re-collapse in crude oil prices and continued weakness in Russian macro data provided just the impetus for a re-plunge in the Ruble (back above 63.5/USD) and surge in Russian bond yields (back to 14%).

Jan 06 12:48

Prepare for Property Prices to Fall Globally

At the start of the New Year, there are increasing signs that the recovery seen in property prices in many cities in western countries -- namely New York and other U.S. cities, and Dublin, London and other UK cities -- is beginning to peter out.

Jan 06 10:41

Why “Freedom” Isn’t ‘Free’

Americans pride themselves on being free, but how free is a man who:

Does not own his house

Does not own his car

Owes thousands of dollars to various banks

Has to send his wife to work out of necessity, because his expenses are so high

Sends his children to public school, because he cannot afford private school

Restricts the number of children he has, because he feels he cannot afford more

Pays a huge portion of his earnings every month to his “masters”, the bankers

Jan 06 10:26

Germany, France Pushing for End to Russia Sanctions

The US is keen to keep imposing new sanctions on Russia ad infinitum, and German vice-chancellor Sigmar Gabriel warned that there are forces in the European Union who are keen to do the same to “cripple Russia.”

With the ceasefire in eastern Ukraine holding, Germany and France are both increasingly pushing back against those sanctions, however, with French President Francois Hollande calling for sanctions to be ended outright.

Jan 06 09:27

U.S. Steel lays off 614 workers, citing low oil prices

Citing the collapse in global oil prices, U.S. Steel Corp. will idle its plant in Lorain, Ohio, laying off 614 workers, a company spokeswoman said Tuesday.

The plant makes steel pipe and tube for oil-and-gas exploration and drilling. With oil prices currently around $50 a barrel, their lowest level since 2009, energy companies have far less incentive to drill for new supply, reducing demand for the plant’s products.

Jan 06 09:21

Bill swap rate fixing is a scandal in waiting

If the Australian Securities and Investments Commission can establish that big banks have featured in the manipulation of the bank bill swap rate, it could well prove to be the largest corporate scandal of 2015.

A clutch of large trading and investment banks are being investigated by the corporate regulator for colluding in order to tamper with this interest rate to generate profits estimated to be in the hundreds of millions. Details of those potentially involved are starting to dribble out into the public domain.

It is probably the tip of the iceberg.

Jan 06 09:20

Basic Truths and Consequences

Most normal individuals believe these basic truths.

We cannot borrow our way out of debt.

We cannot spend our way into prosperity.

We cannot tax ourselves into wealth.

More specific versions of these essential truths are:

We can’t fix an excessive debt problem with more debt.

We can’t support a larger and increasingly more expensive government with a decreasing work force.

Paper money always returns to its intrinsic value – zero.

Jan 06 09:17

11 Predictions Of Economic Disaster In 2015 From Top Experts All Over The Globe

#1 Bill Fleckenstein: “They are trying to make the stock market go up and drag the economy along with it. It’s not going to work. There’s going to be a big accident. When people realize that it’s all a charade, the dollar will tank, the stock market will tank, and hopefully bond markets will tank. Gold will rally in that period of time because it’s done what it’s done because people have assumed complete infallibility on the part of the central bankers.”

Jan 06 09:16

German inflation hits five-year low as eurozone prepares for QE

Consumer prices in the eurozone's largest economy rise by just 0.1pc, indicating the monetary bloc may have now fallen into outright deflation

Jan 06 08:24

Obamacare vote to test Democrats’ resolve under Republican majority

House Republicans will hold a vote this week to change Obamacare’s definition of full-time work from 30 hours a week to the traditional 40, setting up an early test to see how many Democrats are willing to buck President Obama and his signature overhaul now that they are in the minority.

It’s part of the early agenda taking shape on Capitol Hill, where the GOP in both the House and Senate is planning votes on issues that have earned bipartisan support before, but which stalled as Democrats circled wagons to protect Mr. Obama politically.

Webmaster's Commentary: 

And while they all played politics, millions of Americans' lives were ruined by Obamacare!

Jan 06 08:18

CETA should have a GMO warning label on it in Europe

Genetically modified (GM) food is more strictly regulated in the European Union than it is in Canada or the United States. The Canada-European Union Comprehensive Economic and Trade Agreement (CETA) and the United States-European Union Transatlantic Trade and Investment Partnership (TTIP) will increase the risk of GM food entering Europe.

Jan 06 07:54

#FireBoehner: Backlash Against Boehner Explodes On Social Media

Social media has exploded in opposition to Rep. John Boehner, who faces re-election as House Speaker and has profited from owning millions in stocks benefiting from Obamacare.

Webmaster's Commentary: 

Given the total flustercluck that Obamacare has turned out to be, all Americans should be warming up the tar and plucking the feathers for every politicians who supported it!

Jan 06 07:25

Oil Falls Below 50 As Global Financial Markets Begin To Unravel

On Monday, the price of oil fell below $50 for the first time since April 2009, and the Dow dropped 331 points. Meanwhile, the stock market declines over in Europe were even larger on a percentage basis, and the euro sank to a fresh nine year low on concerns that the anti-austerity Syriza party will be victorious in the upcoming election in Greece. These are precisely the kinds of things that we would expect to see happen if a global financial crash was coming in 2015.

Jan 05 19:48

Iceland to Withdraw EU Application: Prime Minister

Iceland is expected to withdraw its application to become a member of the European Union, the Reykjavik Grapevine reported Monday, citing the country's prime minister.

Webmaster's Commentary: 

That European Union isn't looking so attractive these days!

Jan 05 19:44

Is Citi The Next AIG: 70 Trillion Reasons Why Citigroup And Congress Scrambled To Pass The Swaps "Push-Out" Rule

Earlier today, when we were conducting a routine check with the Office of the Currency Comptroller's on the total notional amount of derivatives held at the Big 4 banks in the context of the "JPMorgan break up" story, we found something stunning: using the latest, just released Q3 OCC data, JPMorgan is no longer America's undisputed derivatives king. Well, it still is at the HoldCo level, where it is number one in terms of notional derivatives with $65.5 trillion, but when one steps a level lower, namely the FDIC-insured commercial bank (the National Association or N.A.) level, something quite disturbing emerges.

Jan 05 11:05

LAUGH OF THE DAY

Jan 05 10:19

Pensions of Union Workers Cut in Federal Budget

Well, there's something very radical happened that people haven't been talking about very much. Normally a budget is supposed to decide what gets funded and what doesn't get funded, and it's simply a decision of what to cut back. A budget is not supposed to rewrite the law.

But what happened is something very radical. They rewrote two laws. One of the laws was about bank derivatives that Elizabeth Warren has spoken about, promising to bail out Citibank and other banks. If they lose on derivatives, they're going to get bailed out like they did in 2008.

Jan 05 08:40

The Chinese are Coming: Beijing in the Balkans and Eastern Europe

The chatter about Beijing’s economic surge coincided well with its Balkans drive, yet another means by which the Chinese business juggernaut is seeking satiation. Chinese diplomats and figures are not strangers to the region.

Last month, Beijing exerted its already noted muscle in the southern European, Balkans region, holding discussions with Serbian counterparts on further financial involvement. The point of convergence was the Central and Eastern European-China summit, continuing last years 16+1 initiative begun in Bucharest.

Webmaster's Commentary: 

To minimize the time goods get from China and Asia to Europe will also make those goods more attractive, from a price point perspective, to potential European companies.

Jan 05 08:32

And the World Was Split in Twain

In 1991, the Cold War between the US and the USSR ended, as, economically, the USSR had run its course. Since that time, the US has had the ability to back off on armaments and to strengthen itself economically, to become even more powerful as the world’s present empire.

But, of course, that’s not what they did. Instead, they went headlong in the direction of becoming a more highly armed, more fascist state. Along the way, they became extremely reckless with their economy, following a Keynesian model that contributed to the greatest debt bubble the world has ever seen.

Jan 05 08:09

Russia's "Startling" Proposal To Europe: Dump The US, Join The Eurasian Economic Union

In other words, just as slowly, the world is starting to grasp the bottom line: it is not the financial exposure to Russia, or the threat of financial contagion should Russia suffer a major recession or worse: it is something far simpler that will lead to the biggest harm for Europe's countries. The lack of trade. Because while central banks can monetize everything, leading to an unprecedented asset bubble which if only for the time being boosts investor and consumer confidence, they can't print trade - that all important driver of growth in a globalized world long before central banks were set to monetize over $1 trillion in bonds each and every year to mask the fact that the world is deep in a global depression.

Jan 05 07:58

Shipping container home readying for Detroit debut

An unusual home taking shape inside General Motors' sprawling Detroit-Hamtramck Assembly plant is intended to be part of a movement to rebuild the city's economy and deteriorating, disappearing housing stock.

Skilled-trades workers, taking breaks from their tasks at the factory that produces the electric Chevrolet Volt and other vehicles, dart in and out to do door, window and wall installation and framing, as well as electrical and plumbing work. Meanwhile, a nonprofit urban farming group is preparing property a few miles away that will welcome the project, what's believed to be the city's first occupied shipping container homestead.

Webmaster's Commentary: 

Making life in a slave shack seem fashionable!


Shipping container home.

Plantation slave shack. Click for larger image

Because under the fascist New World Order, only BANKERS are allowed to live in large homes!

Click for larger image


Click for larger image


Click for larger image

Jan 05 07:56

Israel to ask U.S. congressmen to halt aid to Palestinians

Recently passed American legislation states that if the Palestinians initiate any action against Israel at the ICC, the State Department would have to stop American aid to the PA, which comes to some $400 million annually.

Webmaster's Commentary: 

When you allow government to take your money, then give it back on their terms, bad things happen.

Jan 05 07:55

Possible Russian Bitcoin Ban Could Start Domino Effect for Other Countries

As Russia is set to become the latest country to legally restrict virtual currencies such as Bitcoin, an investigative journalist for Bitcoinist and senior editor of the website CryptoArticles, Serge Schouterden predicts this could kick off a domino effect, prompting other countries to do the exact same thing.

Jan 05 07:44

‘Political manipulation’: Germany wants new Greek govt to obey forced administration

The German government insists it wants Greece to stay in the eurozone and isn’t drafting any contingency plans in case of ‘Grexit’. This shows Germany is adamant about keeping Greece under the domination of the 'troika', journalist Ernst Wolff told RT.

“The goal of the German government, the European Union and even the government in Athens itself is to keep Greece in the euro zone," German Vice Chancellor Sigmar Gabriel said in an interview on Sunday.

"There were no, and there are no, other plans to the contrary," he added, without directly refuting Der Spiegel’s report that a common belief in the German government was that the eurozone is stable enough to cope with potential Greece exit.

"That's why we can't be blackmailed and why we expect the Greece government, no matter who leads it, to abide by the agreements made with the EU," Gabriel added, echoing an earlier statement by a high-ranking member of German Chancellor Angela Merkel’s party, Michael Fuchs.

Webmaster's Commentary: 

So if Greece defaults on its EU debt, what is Germany going to do, INVADE?!?

I think not.

Jan 05 07:17

Greek euro exit would be ‘Lehman Brothers squared’: economist

A decision by a new Greek government to leave the eurozone would set off devastating turmoil in financial markets even worse than the collapse of Lehman Brothers in 2008, a leading international economist warned Saturday.

A Greek exit would likely spark runs on Greek banks and the country’s stock market and end with the imposition of severe capital controls, said Barry Eichengreen, an economic historian at the University of California at Berkeley. He spoke as part of a panel discussion on the euro EURUSD, -0.77% crisis at the American Economic Association’s annual meeting.

The exit would also spill into other countries as investors speculate about which might be next to leave the currency union, he said.

Webmaster's Commentary: 

The real problem here, should Greece leave the Euro, and default on their debt, there is a potential crash of credit default markets, which could well go global.

Jan 05 07:15

Hedge fund founder Thomas Gilbert shot dead in NY

US media reported that Mr Gilbert had been involved in a domestic argument.

No-one has been arrested. Police want to speak to Mr Gilbert's son in connection with the incident.

Jan 05 07:01

Russia's "Startling" Proposal To Europe: Dump The US, Join The Eurasian Economic Union

Russia has presented a startling proposal to overcome the tensions with the EU: The EU should renounce the free trade agreement with the United States TTIP and enter into a partnership with the newly established Eurasian Economic Union instead. A free trade zone with the neighbors would make more sense than a deal with the US.

It surely would, but then how will Europe feign outrage when the NSA is found to have spied yet again on its "closest trading partners?" Some more on Russia's proposal from EUobserver:

Vladimir Chizhov told EUobserver: “Our idea is to start official contacts between the EU and the EAEU as soon as possible. [German] chancellor Angela Merkel talked about this not long ago. The EU sanctions [on Russia] are not a hindrance”

Webmaster's Commentary: 

love Putin or hate him, he 20,000 chess moves ahead of the US government in presenting this proposal to Europe!!

And Europe, collectively, may well have had just enough of US governmental bullying and NSA spying to say yes to the proposal!!

Jan 05 06:52

Davos Elites Enjoys the Global Depression

When Klaus Schwab, founder and executive chairman of the World Economic Forum started the yearly pilgrimage to the inner sanctums of the Swiss Gnomes, he could hardly conceive that the ritual would turn into a celebrity bash of the super rich. The Davos venue is appropriate. Only rarified air is suitable for the global Mattoids. Billed as an assembly of business moguls, it really is more of an audition of well-heeled speculators vying for inclusion into the real power elites who make or break governments, economies and political destinies.

Using a combination of a Hollywood press agent, Madison Avenue ad firm and a media business channel the CNBC cheerleaders, the Davos clan relishes in their ill-gotten privilege and influence. The too big to fail mantra fits into the nihilism of their cult devotion of manipulated markets.

Jan 05 06:49

Young people are 'lost generation' who can no longer fix gadgets, warns professor

Young people in Britain have become a lost generation who can no longer mend gadgets and appliances because they have grown up in a disposable world, the professor giving this year’s Royal Institution Christmas lectures has warned.

Webmaster's Commentary: 

The problem isn't the kids. The problem is that modern devices are not designed to be taken apart and repaired by the customer. They are designed to be thrown away and replaced, to boost profits for the manufacturers and retailers.

Jan 04 14:47

BITCOIN CRASHING: Breaks Under $300

Bitcoin is continuing its collapse at the start of the New Year. YTD Bitcoin is already down an additional 86.3% to $286.73.

Webmaster's Commentary: 

Crashing? Or under attack?

Jan 04 11:25

Gun Control Is Here: Guns Permanently Confiscated After Veteran Got Treatment For Insomnia

For those who have always believed that it can’t happen here, think again, because it IS happening, and things are only going to get worse as data surveillance becomes a way of life.

Gun confiscation at the hands of medical records sharing is now officially a reality, with serious consequences for the individuals involved.

Now, under ObamaCare, the United States is on pace to swiftly become a snitch society that would make East Germany and Soviet Russia blush.

Jan 04 11:15

2015 Will Be Worse For Obamacare Than Its 2014 Debut As A Result Of New Burdens The White House Is Saddling Onto Insurers

An ominous and largely ignored outcome of Obamacare’s failed launch is that the large insurers have not signed up to offer health plans on the state exchanges.

The nation’s big insurers have mainly sat out of the program, even after a reported browbeating from the White House.

The reason is simple. Offering plans on the exchanges is a bad business deal.

Webmaster's Commentary: 

Jan 04 10:19

BEX ALERT - Why the US Will Power the World Economy in 2015

Webmaster's Commentary: 

The only way the US will power the world economy is by bombing anyone using a currency that is stronger than the dollar!

Jan 04 09:19

Germany warns against tougher sanctions on Russia

Germany's deputy chancellor, Sigmar Gabriel, has warned against destabilizing Russia through too severe sanctions over the Ukraine crisis. He said an unstable Russia would pose a danger to all of Europe.

Webmaster's Commentary: 

"That is a small price to pay to GET THOSE @#$%ING ROOSKIES!!!!" -- Official White Horse Souse

Jan 04 08:27

Millions of Obamacare subsidy recipients may need to pay back-taxes.

The problem for Democrats is not exactly this: “As many as 3.4 million people who received Obamacare subsidies may owe refunds to the federal government, according to an estimate by a tax preparation firm… H&R Block is estimating that as many as half of the 6.8 million people who received insurance premium subsidies under the Affordable Care Act benefited from subsidies that were too large, the Wall Street Journal reported Thursday.” Although it’s definitely going to be a problem: ‘several million people suddenly discovering that they now owe back taxes to the government over Obamacare’ is not exactly a good scenario, especially if you belong to the political party that set that scenario up in the first place.

Jan 04 08:16

A New IRS Horror Story That Makes Past Scandals Pale In Comparison

The practice has resulted in emptying the bank account of an innocent restaurant owner and an army sergeant in Virginia who was saving money for his daughter’s college education.

Then there was the retail business whose insurance only covered $10,000 in the event of a lost or stolen sum of money. As a result, the owner, who was cautious about keeping too much cash on site, was careful to send employees to make bank deposits throughout the day in amounts less than $10,000 so he could rely on his insurance policy.

In each of these cases, and many others, the IRS, without notice or so much as a criminal complaint or indictment, swooped in and emptied the bank accounts of these completely legitimate people and businesses.

Webmaster's Commentary: 

The United States had abandoned the principle of innocent until proven guilty and returned to the Napoleonic Code, in which one is presumed guilty until innocence can be proven.

Jan 03 11:07

ObamaCare fines rising in 2015, IRS prepares to collect

Don't have health insurance? Get ready to pay up.

The ObamaCare-mandated fines for not having insurance are rising in 2015 -- and for the first time, will be collected by the Internal Revenue Service.

Jan 03 11:04

FDIC report on Americans not using banks

Jan 03 11:01

Russia Is Building a Train That Will Zip From Moscow to Beijing In Just 48 Hours

Russia plans to build a new high speed railway, with trains that would speed from Moscow to Beijing in just 48 hours. At the moment, it takes about seven days to commute between the two cities and the route requires changes. According to Romanian website Glasul, the Kremlin has awarded the project to China Railway High-speed (CRH), a subsidiary of the state-controlled China Railway (CR), which is working in a joint-venture with the local firm Uralvagonzavod. CR is famous in the train industry for operating the world's only magnetic levitation train in an urban area, the Shangai monorail.

Jan 03 08:29

How Financial Looters Are Destroying Your 401(k) in a Fraction of a Second | Brainwash Update

Jan 03 08:03

USA instructs Russian Central Bank how to strangle Russian economy

"In other words, Russia is not even a ruble country de jure. Russia is a dollar country. The Russian ruble takes a small share in the country. The whole segment of investment is based on dollars and euros. The Constitution protects that, and the Central Bank of the country should keep the rate. Now, we have the situation when the Central Bank does not abide by the Constitution, because it raised the key rate and reduced the ruble rate. From the point of view of the Constitution, the Central Bank is obliged to keep the rate. The Central Bank violated the Constitution and Putin's numerous instructions, but it was an absolutely logical move. The charter of the Central Bank does not contain a word about the Russian economy. It should not support the Russian economy. The law says that the Central Bank is governed by international agreements. The bank signs agreements that the Ministry of Justice does not even register. The administration of the Russian Central Bank is based outside Russia.

Jan 03 07:58

White House announces sanctions against N. Korea

US President Barack Obama signed an executive order on Friday authorizing the imposition of new sanctions against certain North Korean entities in the wake of the recent Sony hack the White House continues to blame on Pyongyang.

Webmaster's Commentary: 

There is zero evidence that north Korea had anything to do with the SONY hack and quite a bit of evidence it was an internal hack by a disgruntled employee. This is Obama's version of Saddam's nuclear weapons; a made up threat to provoke another nation into war.

Jan 02 09:36

Why is it Illegal to Buy Food From Your Neighbors?

Virginians who try to sell homemade food from their kitchens are feeling the heat from state and local inspectors.

“I have to turn down my neighbors when they ask if they can buy pesto I make from my own basil plants,” says Bernadette Barber, a farmer in Lancaster, Va.
And this isn’t just a rural phenomenon.

In Arlington, government inspectors shut down a home-based soup maker, even though no customer complaints had been registered. Others have encountered similar fates, stripping them of needed income.

Webmaster's Commentary: 
Jan 02 07:47

"Audit The Fed" Bill Gains Momentum, Yellen Starts Damage Control

After years of being blocked by Democratic leader Harry Reid, The Washington Times reports, the Senate will finally get a chance next year to vote on legislation to force a broad audit of the Federal Reserve's decision-making. Ron Paul's flagship legislative efforts have been picked up by his son and now has the backing of the leader of the new Republican majority, Sen. Mitch McConnell, whose office says the legislation will earn a floor vote. While the bill is not a sure thing, it appears to have The Fed worried as Reuters reports, Yellen and other Fed officials are lobbying Capitol Hill to drop the audit push.

As The Washington Times reports,

After years of being blocked by Democratic leader Harry Reid, the Senate will finally get a chance next year to vote on legislation to force a broad audit of the Federal Reserve's decision-making.

Webmaster's Commentary: 

If everything at the Federal Reserve is done open and above board, then Yellen should have no fear of an audit.

But because the Federal Reserve is no more "federal" than the Federal Express, what are the odds that monetary policies are made on the basis of what is going to line the pockets of executives of this bank, rather than create financial opportunities for hard working individuals in this country?!? I frankly would not bet against that.

Right now, money in this country is a loan at interest rather than a public utility.

And did you know that the Federal Reserve pays absolutely no taxes?!?

Jan 01 15:07

IMF suspends financial aid to Greece

The International Monetary Fund has said it is suspending financial aid to Greece under its huge rescue program until a new government is formed.

Jan 01 12:37

Guest Post: 2014 - A Russian Viewpoint

By any measure 2014 has been a truly historic year which saw huge, I would say, even tectonic developments. This year ends in very high instability, and the future looks hard to guess. I don't think that anybody can confidently predict what might happen next year. So what I propose to do today is something far more modest. I want to look into some of the key events of 2014 and think of them as vectors with a specific direction and magnitude. I want to look in which direction a number of key actors (countries) "moved" this year and with what degree of intensity. Then I want to see whether it is likely that they will change course or determination. Then adding up all the "vectors" of these key actors (countries) I want to make a calculation and see what resulting vector we will obtain for the next year.

Webmaster's Commentary: 

This is a very long post, but well worth the read.

The bottom line here is that both Russia and the US/NATO military and political leaders are preparing for war over the rebellious provinces of Eastern Ukraine.

The big question is just how such a war will play out, with US/NATO fighting with the Ukrainian military, and Russia fighting to protect those Eastern rebellious provinces.

Jan 01 11:04

It Doesn’t Look Like Much From The Outside, But Wait Until You See The Inside!

Including appliances, the cost to build the home was only a little more than $30,000. Feeling inspired? The Morrisons have a free e-course that teaches others how to build their own tiny home. They know that less is more, and a lot more people are learning that too.

Webmaster's Commentary: 

Making life in a slave shack seem fashionable!

Plantation slave shack. Click for larger image

Because under the fascist New World Order, only BANKERS are allowed to live in large homes!

Click for larger image


Click for larger image


Click for larger image

Jan 01 08:05

It's a very Happy New year for Goldman fat cats! Bank accused of 'breathtaking arrogance' after handing 121 UK staff payouts totalling £370million

One of the world’s biggest banks was accused of breathtaking arrogance yesterday for handing a £367m pay bonanza to its London staff.

The staggering sum is being shared out among 121 Goldman Sachs bosses and traders – at an average of £3million a head.

Campaigners said the payouts were obscene and accused the Wall Street bank of ‘sneaking the details out while no one is watching’.

Jan 01 07:56

2014 in review: The wow and weird moments in business

2014 was a weird financial year. Oil hit a record high and low, economic war erupted over Ukraine, bankers found new tricks to cheat, China's role significantly increased, and while the US pulled itself out of recession, Europe looks poised to re-enter.

Jan 01 07:55

US lifts 40-year ban on oil exports

The US has decided to lift a ban on crude oil exports introduced in the 1970’s. The Obama administration is allowing several companies to start exporting raw materials beginning next August.

The US Commerce Department’s Bureau of Industry and Security (BIS) has authorized several energy companies to export so-called ultra-light oil, as stocks in the United States have increased following the development of shale deposits. Supplies can start as early as August, although initial volumes are likely be small.

Jan 01 07:55

‘Caught in dragnet’: Innocent charities lose millions due to anti-terror laws

British charities working in conflict zones are being cut off from millions of pounds worth of funding due to counter-terrorism legislation, a report published on Wednesday suggests.

The paper, produced by the Demos think tank, shows that a wide range of charities, especially those operating in the Middle East, have been affected as major banks continue to shut down bank accounts they believe might be linked to funding terrorist activity.

“Certain users of the banking system deemed to be high risk have found it ever harder to receive, send and store their money,” said the Royal United Services Institute’s (RUSI) director for financial crime and security studies, Tom Keatinge, who authored the report.

“In the worst cases they have had their bank accounts closed, losing financial access.”

Jan 01 07:54

Police dismantle soup kitchen for London homeless, evict activists

In a statement Tuesday afternoon, the group, who call themselves the “Love Activists,” said that the situation facing the homeless in central London has hit crisis point. Services to help the homeless in the area are woefully inadequate, they argued, with all dedicated centers due to remain closed until January 3.

Jan 01 07:51

Venezuela plunges into recession with record inflation

Venezuela's economy has entered a recession with the economy contracting 2.3 percent in the third quarter and the highest inflation in the Americas at 63.6 percent.

Webmaster's Commentary: 

Another victim of Obama's oil price war with Russia!

Jan 01 07:48

State Departments of Agriculture are Attempting to Regulate Seed Banks Out of Existence

Last year, Pennsylvania Department of Agriculture officials sent ‘a friendly letter’ to a seed bank/seed exchange group in Mechanicsburg, telling them they need to test every variety of seed with extremely impractical and pointless tests to ensure that they are up to standards with regulations.

‘Agri-Terrorism’ was cited by officials as a reason why such regulations should be enforced on something as natural as the right to exchange and possess seeds.

Jan 01 07:45

Congress poised in 2015 to order audit of Federal Reserve long sought by Ron Paul

After years of being blocked by Democratic leader Harry Reid, the Senate will finally get a chance next year to vote on legislation to force a broad audit of the Federal Reserve’s decision-making.

Once championed in Congress by former Rep. Ron Paul, the push to force the country’s central bank to undergo a full audit has been picked up by his son, Sen. Rand Paul, and others, and has the backing of the leader of the new Republican majority, Sen. Mitch McConnell, Kentucky Republican, whose office says the legislation will earn a floor vote.

Webmaster's Commentary: 

"Sorry, that data was being kept on Lois Lerner's hard drive!" -- FED Chairwoman Yelling

Dec 31 13:25

$162M Michigan state budget shortfall forecast

Some bad news could welcome lawmakers back from Christmas break: A projected $162 million shortfall in the state budget.

A preliminary forecast out this week from the state Senate Fiscal Agency says income throughout the fiscal year that began Oct. 1 will be $212.2 million less than officials estimated in May. Lawmakers used the spring forecast to develop the current budget.

Based on approved general-fund spending, income would fall short and lawmakers would have to cover the gap "by a shift of revenue from other fund sources or reduced spending," the report says.

Dec 31 13:17

Upcoming 2015 year will be all about further moves towards the integration of Eurasia as the US is progressively squeezed out of Eurasia, Pepe Escobar believes.

Fasten your seat belts; 2015 will be a whirlwind pitting China, Russia and Iran against what I have described as the Empire of Chaos.

So yes – it will be all about further moves towards the integration of Eurasia as the US is progressively squeezed out of Eurasia. We will see a complex geostrategic interplay progressively undermining the hegemony of the US dollar as a reserve currency and, most of all, the petrodollar.

Webmaster's Commentary: 

China, Russia, and Iran are all thinking long-term progress.

The US government can barely think past the next election.

Dec 31 13:02

Detroit bankruptcy fees top $170M

Lawyers and restructuring consultants charged the city $170.2 million in fees and expenses during Detroit's landmark bankruptcy case, city officials disclosed on Tuesday.

Dec 31 12:54

Why Is The Fed Hiring An "Emergency Preparedness Specialist Familiar With DHS Directives"

A few weeks ago, we reported that for some still unexplained reason, the US Treasury is ordering "survival kits" to its employees overseeing the federal banking system.

We still don't know why. But what makes things even more surprising, and confusing, is that two days before the survival kit RFP soliciation became public on December 4, 2014, a just as curious notice was blasted by the Fed's recruiting Twitter account:

So the Fed is hiring not just any "emergency preparedness specialist" but one familiar with DHS directives?

#Hiring an emergency preparedness specialist familiar w/ Department of Homeland Security directives. #Job ID:10185 http://go.usa.gov/6rpx

The only question is why does the Fed - a uniformly safe institution, where economists engage in deep contemplation and decide how much of the US deficit they will monetize - need a person with these qualifications?

Webmaster's Commentary: 

The only thing which makes sense to me is that the Fed believes, based on some very critical realities, that there is going to be some massive financial and social disruption in the US in 2015.

Folks, I know I sound like a chipped CD on this one, but if the Fed is preparing for a massive financial and social disruption here at home, you had darned well better be preparing for it as well.

Please make sure you have potable water, some kind of filtration, storable food and a means to cook things if power goes off. If you, or the people you care about are on medication, please make sure you have extra medication for yourself, and your loved ones. Buy small amounts of gold and silver, and do not put any more money in the bank than just what you need to pay your bills. Figure out what skills and services you can barter if the US currency crashes completely, and becomes worthless. Have a bug out plan, if you need to leave, and make sure you know how to get your children released from school, if you need to.

Preparing never hurts; when things go haywire, it is the preparing that can keep you and your family alive in the middle of any kind of a disaster.

Dec 31 12:21

Big Banks Conspire with Giant Oil Company to Manipulate Currency Markets

Bloomberg reports this week:

With revenue of almost $400 billion last year and operations in about 80 countries, BP trades large quantities of currency each day. Traders at the company regularly received valuable information from counterparts at some of the world’s biggest banks — including tips about forthcoming trades, details of confidential client business and discussions of stop-losses, the trigger points for a flurry of buying or selling — according to four traders with direct knowledge of the practice.

Dec 31 11:49

US Allocates a Whopping $65 Million for New Guantanamo School

The base with the most expensive prison on earth is getting one of the world's priciest schools -- a $65 million building with classroom space for, at most, 275 kindergarten through high school students.

Dec 31 09:46

U.S. Easing of Oil Exports Challenges OPEC's Strategy

The Obama administration’s move to allow exports of ultralight crude without government approval may encourage shale drilling and thwart Saudi Arabia’s strategy to curb U.S. output, further weakening oil markets, according to Citigroup Inc.

Dec 31 09:45

1000% Inflation in Venezuela?

Venezuela President Nicolas Maduro, set to announce a new currency system today, needs to devalue the bolivar or risk inflation passing 1,000 percent as soon as next year, according to Bank of America Corp.

Under the current system, Venezuela’s overvalued bolivar means that the government effectively sells the dollars it gets from oil exports at a discount, compelling policy makers to print extra currency to cover domestic spending needs. Currency controls that limit Venezuelans’ access to dollars have spawned a black market in which the greenback fetches 172 bolivars, compared with officially sanctioned exchange rates that range from 6.3 to about 50 bolivars per dollar.

Webmaster's Commentary: 

Russia is not the only country hit by a downward spiral or oil prices!

Dec 31 09:41

Some businesses use part-time to meet health law

Many businesses in low-wage industries have hired more part-time workers and cut the hours of full-timers recently to soften the impact of new health law requirements that take effect Thursday, some consultants say.

Dec 31 09:41

Greenspan Throws a Wet Blanket on Hopes for Growth Breakout

Just when you thought the U.S. economy was roaring back to health, Former Federal Reserve Chairman Alan Greenspan is here to tell you otherwise.

Dec 31 09:39

Obama Says He Is Improving the World

U.S. President Barack Obama said in a December 30th Oval Office interview with Steve Inskeep of National Public Radio, that, “wherever we have been involved over the last several years, I think the outcome has been better because of American leadership.” This statement from him was part of his answer when Inskeep asked whether the President had regrets about “overthrowing the Gaddafi regime” in Libya.

Obama answered:

“We are hugely influential; we’re the one indispensable nation. But when it comes to nation-building, when it comes to what is going to be a generational project in a place like Libya or a place like Syria or a place like Iraq, we can help, but we can’t do it for them.” In other words: the Libyan people failed, and the Syrian people failed, and the Iraqi people failed, according to America’s President — but he himself and his predecessor Bush did not fail by bombing those countries under false pretenses as they did.

Webmaster's Commentary: 

There is only a one word characterization of Obama's state of mind, upon making these statements: delusional!!!

And unfortunately, even invoking the 25th Amendment to the Constitution, which states that a President can be removed for physical or mental disabilities, the US government would be left with...President Biden for at least two years.

Dec 31 08:38

The Great Unraveling of 2015

For the record, a major, global, financial collapse is now underway. It's not impending; it's here. Forget about the "happy talk" propaganda from the USSA government and the lame stream news media in the Western countries. When you understand that at least 80% of humanity lives on less than $10 a day the dire living conditions of the great mass of humanity come into sharp focus. The situation is already very bad for most human beings on this planet. The crisis is highly likely to enter an even more acute phase this year, fraught with peril for many millions of people, after which the global economy will either begin to improve for the great mass of humanity, or the present so-called "global civilization" will be rocked to its very core, and may even outright collapse. We should know which way the trend will tend by this time next year.

Dec 31 07:37

Maduro blames plunging oil prices on U.S. 'war' vs Russia, Venezuela

Venezuela's petroleum export price has plunged by half during the second half of 2014 to $48, President Nicolas Maduro said on Monday in denouncing a U.S.-led "war" against Russia and his nation in the global oil market

The South American OPEC nation's crude trades at a discount to the U.S. and Brent benchmarks because of its higher content of heavy oil.

Average monthly prices for oil, a product that accounts for 96 percent of Venezuela's hard currency revenue, have dropped steadily since July, when it was at $96.14 per barrel.

Venezuela enjoyed average prices of $103.42 per barrel in 2012 and $98.08 in 2013.

Giving the latest figure for Monday, Maduro repeated his socialist government's accusations that the plunge in oil was a U.S.-planned conspiracy primarily intended to harm Russia.

Dec 31 07:16

Greek PM dissolves parliament ahead of snap elections

If I had any say with the Arab oil-producing nations, I would tell them to all start selling their oil for currencies other than the dollar at once and start pulling their money out of the US financial system as fast as possible.

Dec 31 06:53

Astonishing List of 71 Top Bankers Dead and No Natural Causes!

I've recently stumbled across a list of top bankers that have been killed in cold blood, died in "accidents" or have allegedly committed suicide. In some of the cases, their deaths are so suspicious that the 'suicide' verdict is simply ridiculous, as you will see.

Dec 30 13:37

Fight is ON: Utah issues Dec 31 deadline to feds

Dec 30 11:34

Russia, Japan likely to cooperate in creating Eurasian Economic Corridor

Russia and Japan have perfect chances to take their cooperation in eastern Siberia and the Far East to a new level in 2015 if they set up the so-called Eurasian corridor, MP Yukio Hatoyama, an important figure in the ruling Liberal Democratic Party, said in an interview with TASS on Tuesday.

“This concept is very topical in spite of all the current difficulties,” said Hatoyama who has more than once occupied important governmental positions throughout his political career.

He is president of the Japan-Russia Society, which unites the activists of different political forces, as well as large and medium-sized businesses.

Webmaster's Commentary: 

IF realized, this could offer tremendous economic benefits to both countries.

Dec 30 11:29

Ukraine in ‘full-blown financial crisis’ – National Bank head

Ukraine's GDP shrank by 7.5 percent from January till November 2014, as foreign exchange reserves fell to their lowest level since 2009, and inflation jumped to 21 percent by November, admits the head of the Ukraine's National Bank, Valeriya Gontareva.

The country's foreign exchange reserves shrank to $9.9 billion, as Kiev gave Naftogaz an estimated $8.6 billion to buy gas and settle state guaranteed Eurobonds. $3.1 billion went to settle the debt with Russia's Gazprom, Gontareva explained.

READ MORE: $300,000 in gold missing from Ukraine Central Bank after swapped for lead bricks

The conflict over Russia's reunification with Crimea has killed more than 4,700 people has also killed the economy.

Webmaster's Commentary: 

Ukraine's options, fiscally, are very limited.

If there is not an infusion of cash very soon, the entire government may well collapse of its own weight.

The ECB doesn't appear to be too enthusiastic about coming up with more money quickly, and the US government is, for all intents and purposes, broke as well..

Dec 30 10:32

Alaska Governor Warns State's Fiscal Situation "Critical" As Oil Price Drops

Narrative, we have a problem. What is billed day after day as 'unequivocally good' is entirely not good for Alaska (oh and Texas and Pennsylvania and...) as with oil prices dropping, AP reports Alaska Gov. Bill Walker has halted new spending on six high-profile projects, pending further review. With oil taxes and royalties expected to represent nearly 90% of Alaska's unrestricted general fund revenue this year, officials warned, "the state's fiscal situation demands a critical look."

Dec 30 10:30

Gold Held In NY Fed Vault Drops To Lowest In 21st Century After Biggest Monthly Withdrawal Since 2001

Exactly one month ago we observed that, as expected in the aftermath of the Netherlands’ shocking and still not fully-explained gold repatriation from the NY Fed, the amount of foreign earmarked gold on deposit with the Fed had just experienced a 42 ton withdrawal: the single largest outflow of gold held at the NY Fed in over a decade, going back all the way to 2001.

This had brought the total amount of YTD gold withdrawals from the NY Fed to a whopping 119 tons: the most since the Lehman collapse.

However, because this total was insufficient to cover just the Dutch repatriation of gold from the NY Fed (which amounted to 122 tons), we knew there would be more activity when the November data hit.

Dec 30 09:57

Economic Terrorism Against Russia Intensifies

Jeff Nielson: The Russian ruble fell a further 7% Monday. What is the “reason” cited in the Corporate media for this latest, further plunge in its “value” (i.e. exchange rate)? An “economic report” which shows that Russia’s economy is shrinking. Here we see the pattern of the economic terrorism perpetrated by the One Bank exposed.

In 2010; the One Bank decided to destroy the economy of Greece. It did so for several reasons. It wanted to “make an example” of Greece for all the other European governments to see. This was deemed essential when (tiny) Iceland successfully broke-free of the control of this crime syndicate after the Crash of ‘08, and reclaimed its own sovereignty. It was not about to allow other European governments to follow that example, and begin to assert their own independence.

Webmaster's Commentary: 
Dec 30 09:55

Oil Firms Pull Back on Rigs as Prices Fall

U.S. oil producers appear to be scaling back amid low crude prices, with the onshore drilling-rig count falling by 37 last week, according to oil-field services company Baker Hughes Inc.

It was the third consecutive week the drilling rig count fell and one of the biggest since crude-oil prices started to tumble in June. Analysts say energy companies operating in the U.S. will need slow their oil production to help bolster international crude prices.

Dec 30 07:47

In Pennsylvania, Judge Paves Way for Private Takeover of Public School District

Control of the struggling York City School District in Pennsylvania has been handed over to the state, effectively paving the way for public education in that county to be provided exclusively by a private company.

State officials had previously said that, if approved for a receivership (as a state takeover is called), they would bring in Charter Schools USA, an 'education management company' based in Florida, to operate the district.

Dec 30 07:41

Rise of Spanish populists overturns two-party system

The sudden rise of a new anti-establishment party has transformed Spanish politics a year before a general election, forcing the center-right government to veer away from austerity and the left-leaning opposition to scramble for new leaders.

In just a year since its founding, the party "Podemos" - We Can - has overturned the two party system in place since Spain embraced democracy in the 1970s. It is now polling around even with the ruling People's Party (PP) and main opposition Socialists, and has even led in some polls.

Dec 30 07:22

Euro slides to 2-year low on Greek election fear

The dollar gained ground on the euro and the Japanese yen Monday, with the European single currency trading at a two-year low as Greece prepares for snap elections on a tide of voter resentment against the terms of the country’s international bailout.

Webmaster's Commentary: 

The leading candidate in the coming Greece elections is anti-ECB and anti-austerity. The last time such a candidate ran for office in Greece there was massive election fraud, but this time the Greek voters are so overwhelming against the central bank, election rigging may not prevail. Assuming this candidate is not shot out of the running (Like Robert Kennedy), a win could well mean Greece leaving the EU and defaulting on its debt. That in turn would trigger the credit default swaps sold by Wall Street against Greece's debt. The Wall Street corporations which sold those swaps do not have the cash reserves to pay the claims, which means the Federal Government will insist the American taxpayer cover the losses, in true fascist economic method. I hope the American people will tell the Federal Government that We The People will not pay for Wall Street's bad business decisions any longer.

Dec 29 19:02

Could Libyan Militants Spark An Oil Price Rebound?

Analysts have speculated whether the slump in oil prices would be reversed by an uptick in demand, a buying spree by investors in cheap commodities, or high-cost producers being forced out of the market. But it may be a sudden burst of violence in Libya that provides the spark to oil prices that the markets have been looking for.

Libya has experienced several waves of violence in recent years, violence that has caused periodic disruptions in Libya’s oil sector.

Dec 29 16:46

United Airlines sues entrepreneur, 22, for tip website on how to score cheap flights

United Airlines and Orbitz have filed a civil lawsuit against a 22-year-old New Yorker for running a website that searches for the cheapest flights available using a loophole called hidden city ticketing.

Aktarer Zaman, who founded Skiplagged.com last year, says he isn’t doing anything illegal by exposing an “inefficiency” in airline pricing, a local Fox affiliate reported.

The idea of hidden city ticketing is to buy a one-way airline ticket that has a layover at your actual destination and then ditching the last leg of the trip. For instance, if you want to fly from New York to San Francisco, you would book your flight from New York to Lake Tahoe, with a layover in San Francisco, and then get off there, the Fox affiliate reported.

Dec 29 15:33

Civil Asset Forfeiture: The Final Stage Of Collapse Of Empire

Philadelphia prosecutors agreed last Thursday to halt efforts to seize the homes of two of the lead plaintiffs in a widely publicized federal suit challenging the city’s use of civil forfeiture laws in drug cases.

Philadelphia drops a Civil Asset Forfeiture case to prevent any court from ruling just seizing people’s property is unconstitutional. Phily.COM has reported the case of Christos Sourovelis and Doila Welch,who were both caught up in having their homes seized to pay police pensions when the police arrested a relative they claimed was dealing drugs on their properties. Today, you basically have to shun relatives and never pick up a hick-hiker in trouble for if they have any drugs, even marijuana, there goes your assets.

Dec 29 11:30

Brazil's Economy Just Imploded

Here are the disturbing facts showing that behind the world's propaganda growth facade, it is all hollow: Brazil's consolidated public sector primary fiscal balance, which posted a significantly worse than expected R$8.1bn primary deficit in November driven by the R$6.7bn deficit of the Central Government, dipped into negative territory: -0.18% of GDP, driven by the significant deterioration of the Central Government finances.

Webmaster's Commentary: 

"But let's blame China for it!" -- Official White Horse Souse

Dec 29 10:28

David Bird, Missing Wall Street Journal Reporter, Foresaw an Oil Crash

On the cold, wintry afternoon of January 11, 2014, David Bird, a reporter who covered energy markets for the Wall Street Journal, told his wife he was going out for a walk and left his home in Long Hill, New Jersey in a red jacket with yellow zippers. Despite his colorful attire, the involvement of hundreds of volunteers, law enforcement officials, and the FBI in the search, Bird has vanished without a trace.

As Wall Street On Parade previously reported in January, for the three months prior to his disappearance, Bird was reporting on a supply glut and growing stockpiles of oil. A newly retrieved article by Bird that appeared on line at the Wall Street Journal on August 21, 2013, shows the reporter had also presciently made an early connection between the Federal Reserve ending its massive bond-buying program known as “quantitative easing” and a potential crash in the price of oil – a crash that has now cut the price of oil almost in half in the past six months.

Dec 29 09:32

Ted Butler: The Perfect Crime In The Silver Market

A couple of weeks ago, a long time subscriber correctly pointed out that I seemed to be speculating more than usual in my conclusion that JPMorgan was the big buyer of Silver Eagles and had accumulated as many as 300 million oz of silver, including Eagles and bullion. The subscriber noted that I usually relied on hard core facts that could be documented and not on speculation. As it turns out, I believe there are sufficient number of hard facts behind my speculation, but I had failed to point them out. So let me present the facts, as I see them, that point to JPMorgan having amassed the largest physical silver position in history.

Dec 29 09:21

Top 10 Anti-Homeless Homelessphobes Of 2014

Dec 29 08:58

Christmas returns hit new high

A record number of unwanted Christmas goods will be returned this year, but eretailers are not equipped to cope, logistics experts have warned.

Approximately 30m unwanted goods worth a total of £500m will be returned during the holiday period this year, according to research by LCP Consulting, a logistics consultancy.

Dec 29 08:15

The Top 5 Things That Screw Over Americans in 2015 Spending Bill

Dec 29 08:15

Ukraine turns off reactor at its most powerful nuclear plant after 'accident'

Ukraine shut down one of the six reactors in its most powerful nuclear power plant today – for the second time in a month – because of an apparent electrical malfunction.

The Zaporizhia nuclear plant’s website insisted that radiation levels in the area remained normal after the sixth reactor was “disconnected from the grid by the generator’s internal defence mechanism”.

An official statement said the plant was “operating at 40 per cent power… The reasons for the outage are being investigated”.

Webmaster's Commentary: 

I'd hazard a guess here, and that would be, in a country both corrupt and horribly broke, needed maintenance protocols have not been observed, because they were "too costly"

I would like to politely point out to Ukrainian officials that the results of not doing such maintenance, and immediately, may well be even more costly to the health of the Ukrainian people.

Dec 29 08:09

The 2.6 Billion Dollar Welfare Payment That The U.S. Government Gives To Wal-Mart

Wal-Marts all over the nation were absolutely packed this holiday season, but according to a recent Bloomberg article, the average amount of welfare that Wal-Mart employees receive from the government each year breaks down to about $420,000 per store…

Wal-Mart’s low wages have led to full-time employees seeking public assistance. These are not the 47 percent, lazy, unmotivated bums. Rather, these are people working physical, often difficult jobs. They receive $2.66 billion in government help each year (including $1 billion in healthcare assistance). That works out to about $5,815 per worker. And about $420,000 per store.

Does that make you angry?

It should.

Webmaster's Commentary: 

One has to speculate as to the covert and overt "compensation" which Wal-Mart regularly pays various members of Congress, in the form of campaign funds, to keep this huge, disgustingly socially irresponsible ponzi scheme, going.

Dec 29 08:04

Bullion Banks Gold Leasing

Dec 29 07:30

Only War, Inflation And Financial Collapse Can End The Global "Plutonomy", According To Citi

Wait what? Was there really a time 8 years before the French economist Piketty bashed (and made millions in the process) class and wealth inequality, when one of the world's soon to be most insolvent banks had a symposium in which the bank pulled a page right out of pre-revolutionary France and celebrated the world's mega rich?

Yes, and that's not all.

Dec 29 07:23

Fed Regulatory Stance Seen Boosting 'Wall Street Party'

We almost missed this strange little article about some very big issues. Seems the Bank for International Settlements is upset with the Federal Reserve over its market posture.

Fed officials want to regulate market risks and forego interest rate hikes. BIS officials are on record stating that rates are too low in the United States and that asset bubbles are being created as a result.

Dec 28 10:07

FOR PALESTINIANS, GETTING TO WORK IN ISRAEL IS A JOB IN ITSELF

The next time an Israeli with a conscience refrains from buying sneakers or a cellphone made in Asian sweatshops, he or she should remember: The most brutal sweatshop is next to their homes. Just look once at the sad face of the worker building your home; try to imagine what he went through and put yourself in his shoes. He too is a human being.

Dec 28 09:24

As more cities ban homeless camps, advocates cry foul

For Teresa Sigerson, a former waitress who has lived under a Chicago expressway bridge for three years, the camp she shares with eight others provides shelter, companionship and some measure of security.

"There's safety in numbers," said Sigerson, 51, who begs during the day and sleeps between concrete bridge pillars under a highway northwest of downtown. "Everything's convenient here - you're by the stores, the highway."

This year, Sigerson almost lost her space when construction began on tall concrete barriers on the raised slabs where the homeless were make their beds. The project, which was halted this summer, was meant to dislodge the decade-old camp in Chicago's Avondale neighborhood.

Dec 27 11:03

The Bear Squeezes Back: Russian Ruble Rises against the Dollar

Sanctions introduced by the West against Russia are a form of hot economic warfare. But the attack on the ruble resulted in a competitive currency devaluation for Russia, limiting its ability to import from the West (saving foreign currency), and protecting the value of its declining volume of exports by increasing the number of dollars it receives for each devalued ruble.

As Michael Hudson has explained, Putin has responded to the U.S.-led sanctions movement by diversifying oil and gas exports towards China and Turkey, and signing sales agreements in rubles or currencies other than the U.S. dollar. By abandoning the U.S. dollar as its trading currency, and accepting payments in Chinese yuan, for instance, Putin is signalling his desire to break the stranglehold the U.S. currency has enjoyed over oil and gas trade, and within the world economy.

On December 22, China announced its willingness to support the ruble through currency swaps from its $4-trillion reserves.

Webmaster's Commentary: 

It painfully clearly appears that the Obama Administration has again, collectively, shot itself in the foot economically, because of its consistent, to the point of pathological, inability to think anything through to its logical conclusion.