ECONOMY | WHAT REALLY HAPPENED


ECONOMY

Dec 12 16:43

Bail-In and the Financial Stability Board: The Global Bankers’ Coup

On December 11, 2014, the US House passed a bill repealing the Dodd-Frank requirement that risky derivatives be pushed into big-bank subsidiaries, leaving our deposits and pensions exposed to massive derivatives losses. The bill was vigorously challenged by Senator Elizabeth Warren; but the tide turned when Jamie Dimon, CEO of JPMorganChase, stepped into the ring. Perhaps what prompted his intervention was the unanticipated $40 drop in the price of oil. As financial blogger Michael Snyder points out, that drop could trigger a derivatives payout that could bankrupt the biggest banks. And if the G20’s new “bail-in” rules are formalized, depositors and pensioners could be on the hook.

Dec 12 16:04

UK government to 'pay back' all World War One debt

Nearly one hundred years after it was first issued, the UK Government has announced that it will redeem all of the nation's World War One debt.

Webmaster's Commentary: 

Well then, of COURSE it is time for the bankers to start a new World War!

Dec 12 15:45

Progressives to Dems on Budget Deal: 'We Will Remember This Betrayal'

As Senate prepares votes on funding measure dubbed "the Citigroup Budget," critics lament sad return of Clinton-era "triangulation" and economic policies that continue to favor Wall Street over Main Street

Dec 12 14:45

All About That Wall Street Giveaway That Elizabeth Warren Hates

On Tuesday evening, lawmakers released the text of the massive spending bill that Congress must approve to avoid a government shutdown. Buried on page 615 of that 1,603-page piece of legislation is a provision entirely unrelated to government funding that a few lawmakers managed to sneak into the bill without any public debate during last-minute negotiations. It's a Wall Street giveaway—written by Citigroup—that would allow banks to engage in more types of risky trading with taxpayer-backed money.

Dec 12 14:32

Congress Passes Temporary Tax Breaks for Big Business Now for 15 Years Straight

Last week, the House voted to extend special interest tax breaks, most of which expired at the end of last year. The 55 provisions included in this year's package are the legacy of the Bush-era tax cuts that began in 2001. But 15 years later, these temporary tax break meant to stimulate a slowing economy have mutated into a slew of provisions that mostly help corporations avoid taxes. According to the bipartisan nonprofit Committee for a Responsible Federal Budget, these tax extenders have sapped the U.S. government of $44 billion in lost revenue over the past decade. And while some provisions do help individuals in the middle and lower classes, like tuition credits and deductions for teachers buying school supplies, three-quarters of that lost revenue has gone to big businesses.

Dec 12 13:56

So You Thought Only Gold and Silver Prices Were Rigged? (And Forex, And Libor ...)

Everett Millman
Activist Post

It seems that not a week goes by without word of yet another scandal relating to big banks meddling in the markets in order to derive illicit profits from manipulated price movements...

Goldman Sachs and HSBC are being sued by a New York jeweler for rigging the platinum and palladium price fixes for the last eight years...

Dec 12 13:56

Italy comes to standstill amid boisterous protests

Tens of thousands of Italians took to the streets on Friday in boisterous protests against government policies that are struggling to haul the recession-bound country out of the economic mire.

Dec 12 13:29

Threats to your retirement accounts!

If you ask most Americans they will tell you they don’t even expect to ever get all their pension or 401k. As a facilitator of the LLC IRA, a unique way to jailbreak an IRA and take it off grid, I am told by countless clients that they always viewed their pension or 401k as a phantom asset- something they would be lucky if they ever fully received. The system has done a miraculous job deceiving the public about retirement accounts. This will make an overhaul or even outright theft of these accounts not only possible but generally accepted in the face of a systemic fiscal meltdown.

Webmaster's Commentary: 

Posted in light of the new law allowing Pension Plans to short-change retirees!

Dec 12 13:13

Banks Get OK to Use Taxpayer Money for Derivative Speculation

A good example of this is the House and Senate agreeing to raise the budgets for the Commodities Futures Trading Commission and Securities & Exchange Commission in exchange for quietly repealing the Lincoln Amendment to the Dodd Frank financial regulation law. The action looks like more money for tougher regulation, but eliminating the Lincoln Amendment means American banks are once again free to use taxpayer money to back-stop their speculative derivative trading.

Dec 12 13:13

Boeing to Lay off 561 Employees in SoCal

According to the Los Angeles Times, 253 people at Boeing's Long Beach facilities will lose their jobs, while an additional 308 jobs will be cut at the company's Huntington Beach and El Segundo outposts.

"Boeing carefully links its employment levels to business requirements," company spokesman Stephen Davis explained to the Times. "These employee layoffs are being driven by the difficult business and economic conditions that all businesses have been experiencing."

Dec 12 12:33

I, pet goat II

A story about the fire at the heart of suffering.
Bringing together dancers, musicians, visual artists and 3d animators, the film takes a critical look at current events. A mysterious figure travels aboard his boat through a dark and desolate landscape in his quest for inner peace.

Dec 12 11:17

US Treasury ordering survival kits for Bank Examiners? Anyone Expecting a Crisis Here?

Yep. The US Department of Treasury is trying to order survival kits for all of its employees who oversee the federal banking system, according to a new solicitation they put out. These survival kits are to be for every employee at the Office of the Comptroller of the Currency (OCC), which conducts on-site reviews of banks throughout the country. The survival kit includes everything from water purification tablets to solar blankets and the price should not exceed $200,000 per kit? Unbelievable.

Dec 12 10:18

Couple who received more than SEVEN HUNDRED robocalls over four years from Bank of America win $1m lawsuit

A married couple has been awarded over $1 million in compensation after successfully bringing a harassment complaint against Bank of America for being subjected to hundreds of loan collection calls over a four year period.

Nelson and Joyce Coniglio, of Tampa, Florida, received more than 700 automated calls after they fell behind on mortgage loan payments in 2009.

In a complaint filed in federal court in July, attorneys for the couple said they had been on the receiving end of 'patterns of outrageous, abusive and harassing conduct' by a subsidiary of Bank of America.

Dec 12 10:08

5 Awful Things Congress Snuck Into the Omnibus Budget Deal

On Tuesday, Congressional leaders struck a deal to avert another government shutdown and put off our next completely avoidable, 100% self-imposed budget crisis until next September. And while most members of the least productive Congress in the history of these United States are already busy patting themselves on the back for summoning enough courage and can-do American spirit to actually govern for a day, the rest of us shouldn’t start celebrating just yet.

If you’re a Congressperson looking to sneak through something shady, the omnibus budget bill is the perfect opportunity since 1.) It’s 1600 pages long and very easy to hide things in, and 2.) Congress kind of has to pass it or the government shuts down. Again.

Dec 12 10:05

The Vanishing Male Worker: How America Fell Behind

Working, in America, is in decline. The share of prime-age men — those 25 to 54 years old — who are not working has more than tripled since the late 1960s, to 16 percent. More recently, since the turn of the century, the share of women without paying jobs has been rising, too. The United States, which had one of the highest employment rates among developed nations as recently as 2000, has fallen toward the bottom of the list.

Dec 12 10:04

US corporations are winning the war against human rights lawsuits

A landmark U.S. Supreme Court decision in 2013 that made it all but impossible to sue foreign companies in U.S. courts for alleged roles in overseas human rights abuses is proving to be a boon for U.S. firms too, court documents show.

In the roughly year and a half since the ruling in Kiobel v. Royal Dutch Petroleum Co, U.S. companies such as Chiquita Brands International Inc , IBM Corp and Ford Motor Co have successfully invoked the Supreme Court’s reasoning to fend off lawsuits alleging they were involved in human rights abuses in South Africa, Colombia and elsewhere.

Dec 12 09:40

U.S. Funds Development of Russian Rocket Engine Replacement

U.S. lawmakers have agreed to fund the development of an American-made replacement to the Russian engine used on some military rockets.

The massive spending bill, called the Omnibus Appropriations Act, which Congress may vote on today, would avert a government shutdown and fund most federal agencies for the rest of the year, including the Defense Department.

The legislation would provide $220 million “to accelerate rocket propulsion system development,” according to the bill’s accompany text, which clearly targets the Russian-made RD-180 even though it doesn’t specify the propulsion system.

Dec 12 09:38

Premier Jim Prentice warns of consequences of low oil in State of the Province Address

In a nearly 45 minute speech in front of 700 people, Premier Jim Prentice gave his first State of the Province Address Tuesday.

Prentice began his speech at the Edmonton Chamber of Commerce luncheon by acknowledging the fact oil has hit record lows lately, sitting around $63 a barrel Tuesday compared to just months ago when it was going for $100 a barrel.

“The economic viability, the sustainability, the strength of our energy industry in this province is not in question,” Prentice told the room.

“This is a price trough. This is a price trough, to be clear, of uncertain duration. Longer, I think, than many people realize,” he added.

Webmaster's Commentary: 

"But Canada's suffering is a small price to pay to GET THOSE @##$% RUSSIANS!" -- Official White Horse Souse

Dec 12 09:32

British households are living further beyond their means than at almost any time in the last 20 years, OBR warns

British households are living beyond their means and throwing around cash at a level that is unsustainable, the head of the government’s fiscal watchdog has warned.

As shoppers break new records for Black Friday, Cyber Monday and now ‘Manic Monday’ spending, the head of the Office for Budget Responsibility warned that households are outspending their incomes at a higher level than in ‘almost any other year over the last 15 or 20.’

Robert Chote told a panel of MPs that consumers have been upping their spending, which in turn helps improve the growth of the economy. But the increased expenditure does not mean that households have more cash to spare – they are just using their savings, he said.

Dec 12 09:09

El-Erian: Divergent Central Bank Policies May Spell Danger

Global economies are moving at different speeds, creating a divergence in central bank policy that could cause trouble next year, says Mohamed El-Erian, chief economic adviser at Allianz.

The U.S. economy will strengthen, he writes on Project Syndicate. Chinese growth will stabilize at a level lower than recent averages, and Europe will struggle, El-Erian says.

"This multi-speed economic performance will contribute to multi-track central banking, as pressure for divergent monetary policies intensifies," he writes.

The Federal Reserve will probably start raising interest rates in the third quarter, while the European Central Bank conducts quantitative easing, and the Bank of Japan maintains its "pedal-to-the-metal monetary stimulus," El-Erian says.

The divergence means a stronger dollar, he writes.

Dec 12 09:08

"The City Is On The Verge Of Collapse" - East Cleveland Is Begging To File For Bankruptcy

With Detroit emerging from bankruptcy yesterday, its experience under Chapter 9 was apparently so successful (occasional subsequent massive power outage notwithstanding), that suddenly every other insolvent city in the US is also i) admitting it is in dire straits and ii) hoping to recreate the Detroit experience.

Webmaster's Commentary: 

"Success" being described as the transferring of public assets into the bankers' hands!

Dec 12 09:05

House narrowly approves spending bill, legislation heads to Senate

The House narrowly approved a sweeping spending bill Thursday night despite deep misgivings among liberals and conservatives alike, sending the measure to the Senate as lawmakers averted a partial government shutdown.

Webmaster's Commentary: 

"Misgivings." That is Congress' reaction to the provision in the bill that dump $300 trillion (with a 't') in derivatives exposure onto the taxpayers, and allow pension funds who have lost money to Wall Street's frauds to slash benefits to the retired workers that paid that money into the pension fund in the first place.

Dec 12 09:02

Yuan Has Real Shot at IMF Blessing on Reserve Status

In late 2015, the IMF will conduct its next twice-a-decade review of the basket of currencies its members can count toward their official reserves. Including the yuan in this so-called Special Drawing Rights system would allow the IMF to recognize the ascent of the world’s second-biggest economy while aiding China’s attempts to diminish the dollar’s dominance in global trade and finance.

Webmaster's Commentary: 

A telling reminder that these private central banks have no loyalty to the nations in which they operate, but are loyal only to themselves and their greed!

Dec 12 08:10

Chrysler recalls 208,000 vehicles for Takata air bags

Chrysler now has recalled about 617,000 vehicles with Takata air bags since June. In total, 10 major automakers have now recalled more than 10.7 million vehicles with Takata air bags. Inflators in the Takata bags can explode and shoot metal shrapnel at drivers and passengers.

Dec 12 08:00

New Federal Law Targets Retirement Benefit Cuts: “We Thought Our Pension Was Secure”

The $1.01 trillion spending bill being moving through Congress right now includes some new provisions that may come as a shock to millions of American pension holders. In a bipartisan deal that also included leaders of unions and retirement fund management companies, pension recipients who depend on the money promised to them during their working years may see significant cuts to their monthly disbursements.

There have been Senate hearings, exploratory committees and rumors over the years, but nothing had ever really been legislated so most Americans simply ignored it as another one of those “conspiracy theories.”

Unit now.

Webmaster's Commentary: 

INTRODUCING! PENSION MOTEL! YOUR CASH CHECKS IN, BUT IT NEVER CHECKS OUT. ANOTHER FINE PRODUCT BROUGHT TO YOU BY THE UNITED STATES CONGRESS.

On a more serious note, the US Government has just dropped a big hammer on the retirees, a demographic normally supportive of the incumbents.

Dec 12 07:59

Presenting The $303 Trillion In Derivatives That US Taxpayers Are Now On The Hook For

Its a moot point, since it was an un-payable fraud to begin with. Shrug!

Dec 12 07:52

Pension plans to be looted nationwide as Congress okays institutional theft of funds

When societies approach collapse, coercion shifts to outright theft: Stealing money right out of your bank account, for example, like we recently witnessed in Cyprus. Government also routinely target pension funds and even private retirement accounts, attempting to keep itself afloat by any means necessary.

Just like clockwork, that looting of pension plans is now about to commence. "Congress could soon allow the benefits of current retirees to be cut as part of an agreement to address the fiscal distress confronting some of the nation's 1,400 multi-employer pension plans," writes Michael Fletcher of the Washington Post. [1] The Post continues:

"This proposal would devastate retirees and their surviving spouses," said Karen Friedman, executive vice president of the Pension Rights Center, a nonprofit group. "The proposal would also torpedo basic protections of the federal private pension law ... that states that once benefits are earned, they can't be cut back."

Webmaster's Commentary: 

Dec 12 07:33

Presenting The $303 Trillion In Derivatives That US Taxpayers Are Now On The Hook For

Courtesy of the Cronybus(sic) last minute passage, government was provided a quid-pro-quo $1.1 trillion spending allowance with Wall Street’s blessing in exchange for assuring banks that taxpayers would be on the hook for yet another bailout, as a result of the swaps push-out provision, after incorporating explicit Citigroup language that allows financial institutions to trade certain financial derivatives from subsidiaries that are insured by the Federal Deposit Insurance Corp, explicitly putting taxpayers on the hook for losses caused by these contracts.

Dec 12 07:26

A Warning About Crude Oil's Bear Market

Dec 12 07:20

Germany, Stuck with Massive Bill for Ukraine, Asks Russia for Help

The last two paragraphs in the article show that the German Finance Minister Wolfgang Schauble has been obliged to telephone Anton Siluanov, Russia’s Finance Minister, to ask him not to call in Russia’s $3 billion loan, which becomes automatically repayable when Ukraine’s debt exceeds 60% of its GDP, something which everybody knows has now happened.

It also says that “George Osborne, the UK finance minister, expressed surprise at the request, attendees said, saying the EU was now asking for help from Russia at the same time it was sanctioning the Kremlin for its actions in Ukraine.”

In other words in order to “save” Ukraine (and their own political reputations) the European leadership is now being forced to turn to Russia for help - the same country they accuse of invading and destabilising Ukraine and which they have sanctioned.

Webmaster's Commentary: 

And Russia will step in to help, pulling the rug out from under US meddling in Europe.

Dec 11 18:35

New Federal Law Targets Retirement Benefit Cuts: “We Thought Our Pension Was Secure”

There have been Senate hearings, exploratory committees and rumors over the years, but nothing had ever really been legislated so most Americans simply ignored it as another one of those “conspiracy theories.”

Unit now.

Dec 11 16:45

Spending Bill to Get House Vote Amid Discord on Bank Measure

The banking language, insisted upon by Republicans, would ease rules enacted to protect taxpayers against bank losses after souring derivatives trades helped cause the 2008 financial crisis. The dispute over the banking rule is a preview of Republican plans to roll back other business regulations when they take control of both chambers in 2015.

Dec 11 16:19

CRomnibus gridlock as Congress goes on surprise recess with government shutdown looming

The United States House of Representatives has been in an emergency recess since 2 p.m. as dissent on both sides of the aisle grows for the "CRomnibus" spending bill.

Dec 11 13:36

The New Cold War Policy Has Backfired

The world’s geopolitics, major trade patterns and military alliances have changed radically in the past month. Russia has re-oriented its gas and oil trade, and also its trade in military technology, away from Europe toward Eurasia.

The result is the opposite of America’s hope for the past half-century of dividing and conquering Eurasia: setting Russia against China, isolating Iran, and preventing India, the Near East and other Asian countries from joining together to create an alternative to the U.S. dollar area. American sanctions and New Cold War policy has driven these Asian countries together in association with the Shanghai Cooperation Organization as an alternative to NATO, and in the BRICS moves to avoid dealing with the dollar area, the IMF and World Bank austerity programs.

Webmaster's Commentary: 

The United States greatly over-estimated the need other nations have for it, and tried to use that need to coerce compliance, only to find the other nations were perfectly happy to go on about their lives without any entanglements with the US system!

Dec 11 13:13

ISRAEL’S SECRET PLAN FOR A "SECOND ISRAEL" IN UKRAINE

The role of Jewish figures and that of the State of Israel in the Ukrainian crisis has not gone unnoticed considering that this community represents less than 1 percent of the population. However, a secret report in the hands of the Netanyahu administration confirms that Ashkenazi Jews do not originate from the Levant, but are the descendants of the Khazars. This little-known population founded a Jewish empire in the tenth century on the banks of the Black Sea. Therefore, some Zionists see in Ukraine a possible second Israel.

Dec 11 11:12

Industrial silver use will jump 27% by 2018 - CRU

More and more applications for silver are being invented, discovered, and, importantly, commercialized, said a new report from the Silver Institute and CRU Consulting, stoking the growth potential from several of the most important industrial silver applications.

Total industrial silver demand is forecast to reach nearly 680 million ounces annually by 2018, according to the “Glistening Particles of Industrial Silver” report scheduled for public release Wednesday morning.

Half of this growth will occur in the electrical and electronics sector, but additional demand will be due to growth in the use of silver in batteries, Ethylene Oxide (EO) in the chemical sector, anti-bacterial uses of silver, the automotive industry, silver coated bearings, and the brazing alloys/solders sector.

Dec 11 11:03

Drone-only: US Army builds $33mn UAV airport in Texas

At $33 million cost, the project demonstrates America’s unprecedented drive toward the use of unmanned aerial systems.

Dec 11 11:03

$1 trillion spending bill barely hangs on in first test vote

The $1.1 trillion spending bill narrowly survived its first test Thursday when the House approved rules for debate, bringing the bill to the floor and setting up an afternoon showdown that will expose just how deep the divisions run within the Democratic Party.

Senate Democrats were pleading for the bill’s passage, saying it was the best deal possible in divided government, but a House Democratic leader said the bill was so bad it would “fundamentally change our republic” because it altered campaign finance laws and made changes to how banks can trade derivatives.

Dec 11 10:29

Russell Napier: This Has Never Happened Before Without A Drop In Stock Prices

Over the next five years investors now expect inflation to average just below 1.3%. This level of expected inflation has always previously been associated with a decline in US equity prices. There have been no exceptions until today.

Dec 11 10:22

How "Superman of Renters" Daniel Bramzon Revolutionized L.A.'s Eviction-Defense Industry

Rents in Los Angeles have climbed by 25 percent since 2000, according to a UCLA study, while households' median incomes have actually declined. That's left L.A. among the least (if not the very least) affordable cities in which to live in the United States. According to Zillow, a person making the metro area's median income of $59,000 must pay 48 percent of his or her paycheck to cover median rent, which is currently an eye-popping $2,392.

With margins like that, it's easy to fall behind. Some 64,000 to 73,000 people are evicted in L.A. each year — a population equal to that of Redondo Beach. But before the sheriff shows up at their door with a padlock, they're called here, to "unlawful detainer" (legalese for eviction) court. Every day, more than 50 cases move through Department 94.

Dec 11 10:21

Kerry warns students: "We have kleptocrats stealing from the people they’re supposed to represent; Don’t get bought out by the vast sums of money in American politics."

Earlier this year, Secretary of State John Kerry gave some warnings to an auditorium full of university students which never got much attention. It appears the Skull & Bonesman may be feeling a twinge of a guilty conscience. While cloaking some of his remarks towards criticism of corrupt foreign regimes, Kerry did warn specifically about corruption in American politics as well.

"You have these greedy people for whom it is not enough simply to have some power and be able to do good for people, but who want to get rich while they’re doing it at the expense of the people they’re supposed to serve. So we have kleptocrats all around the world, stealing from the people they’re supposed to represent, and levels of corruption that are absolutely extraordinary in various places. And the result is people feel that."

Dec 11 10:15

Ellen Brown: Big Banks Will Take Depositors Money In Next Crash

It gets worse, as Brown goes on to say, “Theoretically, we are protected by deposit insurance up to $250,000 in the U.S. and 100,000 euros in Europe. The FDIC fund has $46 billion, the last time I looked, to cover $4.5 trillion worth of deposits. ”

Dec 11 09:58

European banks are stuck in a severe crisis

Big banks in Europe are riskier than anywhere else in the world.

They have higher non-performing loans, greater asset shrinkage, larger losses and higher debt-to-equity ratios. And European banks are bracing for even worse loan losses.

It’s the combination of those characteristics that lead to a crisis, and the eurozone essentially is in one today.

Webmaster's Commentary: 

The root cause of all these problems is that eleventh marble!

Dec 11 09:54

Mexico vows to sell dollars to halt peso's slide

Mexico is ready to intervene in currency markets to fight the peso's fall against the dollar amid concerns over dropping oil prices and a possible increase in U.S. interest rates.

Dec 11 09:54

McDonald's to pare U.S. menus, ingredient lists

McDonald's Corp said on Wednesday it plans to cut the number of items on its U.S. menus and use fewer ingredients in food as it moves to speed up service, bolster sales and offer consumers personalized options to compete better with Subway and Chipotle Mexican Grill.

Webmaster's Commentary: 

I do not expect this to work. McDonald's may join SEARS and Radio Shack on the endangered icons list!

Dec 11 09:42

7 Questions Gold Bears Haven’t Answered

A glance at any gold price chart reveals the severity of the bear mauling it has endured over the last three years.

More alarming, even for die-hard gold investors, is that some of the fundamental drivers that would normally push gold higher, like a weak US dollar, have reversed.

Throw in a correction-defying Wall Street stock market and the never-ending rain of disdain for gold from the mainstream, and it may seem that there’s no reason to buy gold; the bear is here to stay.

If so, then I have a question. Actually, a whole bunch of questions.

If we’re in a bear market, then…

Dec 11 09:35

THE WRH BANKER ARTICLES: ALL IN ONE CHUNK

I have received many emails regarding the various articles I have written about the problems with the current economic system of being forced to borrow all currency at interest from a privately-owned central bank. This is, of course, the very system of banking the United States fought a revolution to be free of, only to be sold back into said banker slavery not just once, but three times by corrupted congresses and corrupted presidents.

I have been asked to collect all those articles into a single page to make it easier for people to send to their friends, and this collection is the result.

Optional Banner: 
WRH Exclusive
Dec 11 09:32

Your Survival Depends On Taking Your Money Out of the Bank

Nearly every publication estimates the derivatives debt to be in the range of one quadrillion dollars to $1.5 quadrillion dollars. Conservative estimates tell us that this derivatives debt, that has been assumed by the governments of the world, is at least 16 times the entire value of the assets of Planet Earth. This generation cannot pay off this debt. Your children, grandchildren and even great-great-great-great-great grandchildren cannot pay off this debt. If the status quo were to remain in place this debt could not be paid off in the 25th century, the 30th century, nor the 50th century. My estimates place the interest on the debt to exceed the entire value of the world’s assets and the interest is increasing far faster than the governments of the world can service the debt. Who is the debt owed to? It is owed to the first movers, the owners of the central banking system.

Dec 11 09:29

House Budget Deal Strikes Major Blow To Michelle’s School Lunch Program

With school districts around the nation dropping the federal nutrition program backed by Michelle Obama, despite the fact that doing so means a drastic reduction in funding, it is clear that many affected by its mandates are not on board. Students have staged protests against the insufficient, unappetizing fare being offered in lunchrooms, administrators cite the loss in revenue associated with reduced school lunch participation, and parents lament the dearth of choices being presented.

Webmaster's Commentary: 


The new, IMPROVED, Michelle Obama school lunch. Just imagine how nutritious it is!

Dec 11 09:07

Billions in UK green aid goes to booming nations: World's poorest countries 'left behind' as at least £1.6bn from Britain goes to economies including India and Brazil

British funding for green projects overseas is going to major economies such as India, Brazil and South Africa, a report reveals.

The world’s poorest countries are being ‘left behind’ as richer nations scoop up most of the cash, according to the Overseas Development Institute.

Dec 11 09:07

Central Banks’ 2% Plan to Impoverish You

The 2% target is low enough that the household frogs in the kettle of hot water never realize they’re being boiled alive because the increase is so gradual.

A comment by correspondent David C. suggested the importance of demonstrating the impoverishing consequences of central banks reaching their 2% inflation target. David observed: “That central bankers aren’t all hanging by their necks from lamp posts everywhere is a testament to how scarce are those who grasp exponents and compounding.”

Dec 11 08:48

Leadership courts centrist support for $1.1T spending bill as shutdown looms

Congressional leaders were trying to hold the center in the run-up to Thursday’s government shutdown deadline, with Senate Democrats and House Republicans pleading for their troops to back a $1.1 trillion spending bill that had those on both extremes of the ideological spectrum fuming.

House Republican leaders touted dents to the Internal Revenue Service budget and Environmental Protection Agency staffing levels, language that stalls some of President Obama’s plans to battle climate change, and the chance to fight the White House’s deportation amnesty next year as reasons to get behind the massive 1,600-page bill.

Webmaster's Commentary: 

THIS IS A CALL TO KEYBOARDS FOR ALL RIVERO'S RANGERS!

Wherever you see any articles, posts, or blogs about raising the debt ceiling, please post the above graphic, or quote the following...

"The question Americans should be asking is not whether to raise the debt ceiling, but rather why the Federal Government, which is authorized by the Constitution to create and issue interest-free money, instead borrows that money at interest from a privately owned central bank, thereby plunging future generations into debt slavery to that bank? THAT is the real question Americans should be asking!"

This quote is already making the rounds but we need to put this in front of the eyes of every American that we can over the next week as Congress debates just how much further they will sell us all into the slavery of the private central bankers.

Dec 11 08:05

How Wal-Mart Made Its Crumbling China Business Look So Good for So Long

After years of heralding China as one of its best markets, Wal-Mart (WMT) in August said its performance there was among the worst in its major countries. A management shake-up and job cuts have followed.

Dec 11 07:31

Lifestyles of the money-junkies - The World’s Most Expensive Watches: 8 Timepieces Over $1 Million

Webmaster's Commentary: 

A lot of people really do not see the wealth gap between the money-junkies and ... us. As I mentioned in the article about the HYT H1 Hydro-Mechanical Watch, I have a resonance with the art of fine watch making. But the $45,000 price tag for the HYT seemed a bit impractical to me, especially since my CASIO has far more functionality for only $300. But the watches in this article, topping out at $2.5 million for a wrist decoration, make anyone wearing the $45,000 HYT look like a pauper!

Dec 11 07:30

Luxury Brand Retail Stocks: All You Need to Know

Strangely, Americans are getting richer and poorer at the same time, and this is benefiting the luxury brand stocks. While the number of Americans requiring food stamps is at a staggering 48 million or so, at the other end of the spectrum, the rich are increasing their wealth to new record-highs at a rapid pace. This is what will help the luxury brand stocks—a widening income gap that’s seeing the rich rapidly becoming richer.

Webmaster's Commentary: 

Yes, you can make money investing in stocks for companies that cater to the rich. The problem is there are not enough rich to support the entire economy. There are not enough hours in the day for them to buy all the products manufactured by all the people, so they "save time" by buying a few highly overpriced trinkets to prove their wealth.

Dec 11 05:07

Oil industry payrolls 2009 - 2014

Dec 10 19:41

British Tycoon Impaled on Spikes Following 60ft Fall from Luxury London Penthouse

A financier at the heart of one of Britain’s biggest divorce battles has died after falling from his £3 million home and impaling himself on iron railings. Scot Young, 52, suffered horrific injuries after plummeting four storeys from a window of his luxury central London penthouse. His death comes almost a year after an extraordinary legal fight with his ex-wife concluded at the High Court. Michelle Young, 49, won a £20 million payout after a seven-year legal battle but declared the sum a “disgrace” and is never believed to have received the cash. She said she thought Mr Young was worth “billions” and claimed that he had hidden his fortune.

Dec 10 19:30

US Budget Bill Stealthily Allows Banks to Use Federal Deposit Insurance to Cover Swaps and Derivates

Congress has agreed to use federal deposit insurance, which was designed to protect the savings accounts of consumers, to cover risky trading by the nation’s biggest banks. In a small provision in the budget bill, Congress agreed to allow banks to house their trading of swaps and derivatives alongside customer deposits, which are insured by the federal government against losses. Note: This destroys the last remaining albeit (limp wristed) protection Americans had left when they deposit their funds in these banks! If banks fail again, you'll never see your money.

Dec 10 18:02

Leaked Document: Ukraine's Government Set To Eliminate... Everything

In reality, bureaucrats and politicians who produce nothing of value parasitically choke off the productive class through onerous taxation and regulation.

Dec 10 17:11

Disney and Microsoft dragged into Luxembourg tax avoidance scandal engulfing EU chief Jean-Claude Juncker

Giant US businesses Disney and Microsoft have been dragged into the Luxembourg tax avoidance scandal engulfing Brussels chief Jean-Claude Juncker after a slew of confidential documents were leaked.

The Grand Duchy is accused of allowing multinational firms to pay virtually no tax on massive profits – draining resources from countries forced to make drastic cuts to reduce their deficits.

The scandal has dragged in Mr Juncker - Luxembourg’s former Prime Minister. The new president of the European Commission, Brussels' most powerful official, is under mounting pressure to explain the complicated tax deals struck while he was leader.

Dec 10 16:59

BP to spend nearly £640m making hundreds of job cuts as oil price slumps

Continued fall in global oil prices and demand forces BP to plan staff redundancies in all segments over the next year

Dec 10 16:40

How the Fed Grows Government

We are told that elections are important, but the most powerful state institution, the central bank, is totally out of reach of the voter.

Dec 10 16:13

14 Facts That Prove That The Number Of Children Living In Poverty This Christmas Is At A Record High

We live at a time when child poverty in America is exploding.

Dec 10 16:09

Welcome to the Recovery – McKinsey Survey Shows 40% of Americans Living Paycheck to Paycheck, Up From 31% in 2012

Nothing screams economic recovery like 2 out of every 5 Americans living paycheck to paycheck. Especially when that number has reportedly increased by 33% since 2012.

Dec 10 16:08

Loss of Control: The Current Financial Bubble is Busting?

Many who will read this work have been sitting patiently waiting for the house of cards to collapse. For me personally, I confess the current maniacal financial bubble has gone on much longer than I ever imagined. What did we miss?

Are we wrong or just early? In my opinion, we were early, mathematically correct yet the “rules” changed. For my part, I can say that I missed just how much “leverage” could be used to extend the game. In the current instance, we are not even talking about garden variety leverage. We live in a world where leverage is leveraged, leveraged again and again and again.

Dec 10 15:37

Taped Phone Call to Dept of Justice on Trustee Gary F Seitz Chapter 7 Abuse.

From yesterday:

http://mortgagemovies.blogspot.com/2014/12/kingcastmortgage-movies-and...

Wait for the taped phone call in a moment, but note first that former Eckert, Seamans Attorney Margaret England (more info) now works for the same law firm as Gary F. Seitz. England is a racist who called La Mar Gunn a nigger, as noted in a recent Federal Trial that Mr. Gunn won, pro se. So now we have discrimination against a Philipino family, nice.

In this case, the pro se Blanco family tried to file a Chapter 13 but checked the wrong box. Should be a simple matter to convert, right? I mean you know, seeing as they are trying to pay, rather than to extinguish a debt, right?

Dec 10 15:12

Osborne's new 'Google tax' on firms shifting profits abroad is ridiculed as it emerges they will have to report THEMSELVES to the taxman

The levy, which was introduced by George Osborne in last week’s Autumn Statement, is overwhelmingly backed by the public.

But it emerged today that under the new scheme companies will be asked to ‘self-report’ how much tax they have avoided.

One tax expert said: ‘It's a bit like reporting yourself to the police and then having to defend yourself.’

Dec 10 15:04

Game over, Japan

In April, the Japanese government raised the sales tax rate from 5% to 8%, which while doing nothing for the government’s ability to cover debt payments, did significant damage on the country’s growth in terms of GDP.

Clearly that didn’t work out very well, so they’re postponing the planned second increase in the sales tax.

But by doing that, the country’s credit rating was promptly downgraded by Moody’s.

While it’s astonishing that Japan’s rating is still as high as it is, the shift downwards is critical.

This is the beginning of the end. The Japanese government is running out of moves. If they raise taxes, they lose growth; if they don’t, they lose the last remaining shred of confidence from investors that they’ll ever make good on their debt.

Game over, Japan. Hara-kiri seems to be the only option at this point.

Dec 10 15:02

The Retail Apocalypse Accelerates: Collapsing Holiday Sales Are A Signal That A Recession Is Coming

Retail sales during the four day Thanksgiving weekend were down a whopping 11 percent from last year.

This is a “make or break” time of the year for many retailers, and if things don’t turn around during the coming weeks we could see a tsunami of store closings in January and February.

Dec 10 15:01

Plummeting Oil Prices Could Destroy The Banks That Are Holding Trillions In Commodity Derivatives

Could rapidly falling oil prices trigger a nightmare scenario for the commodity derivatives market?

The big Wall Street banks did not expect plunging home prices to cause a mortgage-backed securities implosion back in 2008, and their models did not anticipate a decline in the price of oil by more than 40 dollars in less than six months this time either.

We are heading for a derivatives crisis unlike anything that we have ever seen. It is going to make the financial meltdown of 2008 look like a walk in the park.

Dec 10 14:54

Trade ministers beg Brussels to remove more national sovereignty

Prime Ministers blame Brussels for, well, everything, But trade ministers have just written to EU President Juncker insisting he removes more of their national sovereignty through secret corporate courts.

Conflict rages in Brussels between those seeking to salvage the embattled EU/US trade pact (TTIP) by dropping ISDS as its most controversial aspect, and those who still want to push through the whole project in the face of mounting public opposition.

The ‘investor-state dispute settlement system’ (ISDS) would allow investors and corporations to sue governments in private international tribunals for any policy they deem “unfair” or which could affect their “legitimate profit expectations”.

Dec 10 14:30

Congress and Pentagon Shielding Weapons Contracts From Budget Cuts

Dec 10 14:29

Treasury Department Seeking Survival Kits For Bank Employees

The Department of Treasury is seeking to order survival kits for all of its employees who oversee the federal banking system, according to a new solicitation.

The emergency supplies would be for every employee at the Office of the Comptroller of the Currency (OCC), which conducts on-site reviews of banks throughout the country. The survival kit includes everything from water purification tablets to solar blankets.

The government is willing to spend up to $200,000 on the kits, according to the solicitation released on Dec. 4.

The survival kits must come in a fanny-pack or backpack that can fit all of the items, including a 33-piece personal first aid kit with “decongestant tablets,” a variety of bandages, and medicines.

Webmaster's Commentary: 

Oh shit! :)

Dec 10 13:40

MONSANTO NABS CHICAGO BIG-DATA STARTUP 640 LABS

One of Chicago's more interesting big-data startups, 640 Labs, has been acquired by agriculture giant Monsanto. The company was bought by San Francisco-based Climate Corp., a fast-growing technology unit of Monsanto. Founded by two former Motorola engineers, 640 Labs uses GPS, wireless and mobile technologies to give farmers detailed data on their crops and equipment to improve operations.

Dec 10 13:35

Venezuela Default Probability Has Never Been Higher; Maduro "Working To Raise Oil Prices"

With OPEC slashing demand expectations to 12 year lows, oil prices have re-cratered today putting further pressure on socialist-utopia Venezuala which needs $121/bbl to break-even. Credit risk for the South American nation has exploded today to record highs - implying a 93% probability of default and President Maduro has taken to the airwaves to calm a benefit-needy nation... tensions are mounting...

Default risk has gone vertical...

Dec 10 13:26

Rising Global Inequality and the Reign of Corporate Empire

Today’s world is increasingly becoming dominated by private special interests and multinational corporations who usurp political systems around the world, creating vast wealth inequality and largely rendering democratic political systems futile. As the profits, power and influence of corporations explode in the 21st century, the gap between the rich and the poor spikes in tandem, creating what many believe is the emergence of a new feudal society.

Dec 10 13:07

Congressional leaders hammer out deal to allow pension plans to cut retiree benefits

A measure that would for the first time allow the benefits of current retirees to be severely cut is set to be attached to a massive spending bill, part of an effort to save some of the nation’s most distressed pension plans.

Webmaster's Commentary: 

These pension plans were put into distress when Wall Street's pet ratings agencies rated the mortgage-backed securities as "Triple A", making it legal for pension plans to invest in them. Then when the fraud collapsed in 2008, pensions were defunded. But nobody in either government of the corporate media had the gonads to point the finger of blame for the pensions problem where it belonged and instead blamed "greedy" workers and anyone who had the temerity to live to a ripe old age. So, together with the proposal to drop the derivatives losses onto the American people, this proposed bill is another example of Congress screwing ordinary Americans to pay for Wall Street's crimes!

Dec 10 12:07

Dow off 200-plus as oil price slips further

The U.S. stock market was headed for its first three-day losing streak since October Wednesday as a gloomy prediction for global oil demand sent crude prices plunging again.

Dec 10 11:55

Obama's FDIC, DOJ conspire to bankrupt gunmakers: Govt. report

While overshadowed by the release of the Senate's CIA torture report, the announcement of Attorney General Eric Holder's racial profiling ban, and the highly anticipated testimony of the "Obamacare architect," Dr. Jonathan Gruber, before a congressional panel, the House Oversight Committee chairman, Californian Republican Rep. Darrell Issa, released another report that got lost in the shuffle on Monday. A part of the report reveals how President Barack Obama and his minions conspired against companies they disliked such as firearms and ammunition manufacturers with the goal of denying them access to bank loans and capital.

Webmaster's Commentary: 

When the people allow the government and bankers to acquire all of the money, inevitably great evil against the people follows.

Dec 10 11:51

2.5 Million Children Are Homeless in US, New Data Reveals

A historic number of America's youth – 2.5 million children – are homeless according to a report recently released by the National Center on Family Homelessness. These children, the report shows, are victims of a number of variables that contribute to homelessness including single motherhood, racial disparities and low household incomes.

Webmaster's Commentary: 

"We do Not have homeless American children. We are the greatest nation on Earth! We are exceptional. We are AWESOME (FOX News says so)! And anyone who says otherwise will be tortured!" -- Official White Horse Souse

Dec 10 11:38

7 Questions Gold Bears Haven't Answered

A glance at any gold price chart reveals the severity of the bear mauling it has endured over the last three years.

More alarming, even for die-hard gold investors, is that some of the fundamental drivers that would normally push gold higher, like a weak US dollar, have reversed.

Throw in a correction-defying Wall Street stock market and the never-ending rain of disdain for gold from the mainstream, and it may seem that there’s no reason to buy gold; the bear is here to stay.

If so, then I have a question. Actually, a whole bunch of questions.

If we’re in a bear market, then…

Dec 10 11:30

US Senate approves sanctions bill on Venezuelan officials

The US Senate has approved a bill that would freeze the assets of Venezuelan officials accused of human rights violations, barring them from entry to the United States.

Webmaster's Commentary: 


Of course, this has nothing to do with human rights violations and everything to do with Venezuela selling their oil for the Yuan!

Dec 10 11:29

The American Dream deferred for young Americans: Living in rentals, inflated college tuition, and low wages await millions of young Americans.

The Americans Dream was largely built on a few simple ideals. One was the ability to purchase your own home without needing artificially low rates and dangerously low down payments. Another key aspect of the dream was allowing young Americans to receive a college education to pursue their future. While more Americans are going to college, many are taking on dangerously high levels of debt to embark on this journey. Another key component of the American Dream was having the ability to have a job that paid well enough to have a good standard of living. That standard of living is eroding as inflation is eating away purchasing power. It is hard to come to terms but the upcoming generation may not have it as good as that of the baby boomers. There is no fast and hard rule saying that each generation should be better. That is why the middle class rising in the US was a historical anomaly. Something worth aspiring and investing in.

Dec 10 11:11

Will Lawmakers Sneak a Gift to Wall Street into the Spending Bill?

Under cover of legislative chaos, lawmakers from both parties are working this week to preserve taxpayer-backing for some of Wall Street’s riskiest activities.

The deal taking shape would be slipped into the catch-all federal spending bill that is meant to finance the government in 2015, according to Capitol Hill sources who are not authorized to speak publicly. It would effectively repeal a plank of the Dodd-Frank financial reform law that would force big banks to conduct their most speculative derivatives trades in separately-capitalized subsidiaries, where they would be ineligible for federal deposit insurance, Federal Reserve assistance or other taxpayer-provided support.

The point of the law is to end the “heads I win, tails you lose,” game on Wall Street, in which the biggest banks keep the lavish winnings from their bets while pushing catastrophic losses onto the public, as happened in the financial crisis.

Dec 10 10:44

Ellen Brown - 5 Big Banks will Survive Next Financial Calamity - Everybody Else Bankrupt

When a financial crash does happen, you can forget about getting immediate access to your money. Ellen Brown of The Web of Debt Blog says, “The banks will say, well, we don’t have it. All the money goes into one big pool since Glass Steagall was repealed. They are allowed to gamble with that money and that’s what they do. I think maybe Bank of America is the most vulnerable because of Merrill Lynch. Everybody is concerned, and they do very risky deals and they are on the edge. I think they have over $50 trillion in derivatives and over $1 trillion in deposits. . . The Dodd-Frank Act says we, the people, are no longer going to be responsible for the big banks when they collapse. It is not clear the FDIC will even be able to borrow from the Treasury, but even if they could, who is going to pay that money back? Let’s say they borrowed $1 trillion. Who is going to pay that $1 trillion dollars back? It will bankrupt all the small banks that had to contribute to this premium.

Dec 10 10:36

Billionaire Frank Giustra’s Massive Bet On Gold & Silver

On the heels of a $25 surge in the price of gold and a nearly 5 percent rally in the price of silver, today King World News takes a look at what would lead one of the world’s richest men, billionaire Frank Giustra, to make a massive bet on significantly higher gold and silver prices in the future.

Dec 10 10:17

Bank of America: OPEC is Finished

Dec 10 10:15

2015 Housing Real Estate Market Forecast

Dec 10 10:14

CENTRAL BANKS HAVE FAILED BECAUSE THEY CAN'T PUSH WAGES HIGHER

You can print all the money you want, but it will never boost wages to keep up with prices. Central banks have been pursuing two goals for the past six years: ignite inflation and an expansion of debt that will supposedly generate "growth." Despite squandering trillions of dollars, yen, yuan and euros, central banks have failed to ignite sustainable inflation or growth.

Dec 10 09:43

?Do they know it’s Christmas? Thousands of UK families face winter of poverty

Thousands of British families will be dependent on handouts and charity this Christmas as rates of poverty in the UK continue to soar.

At a time when real wages remain stagnant for most of the UK’s lowest paid, it is estimated more than 2,000 working families will find themselves in need of assistance from voluntary organizations for food and other necessities.

According to a feature report published in the Guardian on Wednesday, around 4,500 children will also require assistance as a result of severe poverty.

Dec 10 09:38

Russian Prostitutes Hike Rates Over Slumping Ruble

The crime of buying sexual services is becoming more expensive in Russia as prostitutes increase their rates to offset the free-falling ruble, regional media reported.

Webmaster's Commentary: 

Redefining the term, "Pussy Riot!" :)

Dec 10 09:29

Welcome to the Recovery – McKinsey Survey Shows 40% of Americans Living Paycheck to Paycheck, Up From 31% in 2012

Nothing screams economic recovery like 2 out of every 5 Americans living paycheck to paycheck. Especially when that number has reportedly increased by 33% since 2012.

Perhaps someone should inform these destitute plebs that the stock market is up nearly 45% over the past two years, and after all, nothing says economic success like the 0.01% enriching themselves via fraud and financial engineering.

Here are two of the most sobering findings from the survery:

40 percent of the consumers we surveyed said they are coping with the challenge of living paycheck to paycheck, up from 31 percent in 2012.

Today just 23 percent say they are optimistic about the economy, down from 27 percent at the beginning of the recession in 2009.

Webmaster's Commentary: 

IF you have been feeling the effect of stagnant wages and inflation just tearing your budget apart, you are not alone.

Dec 10 09:25

Here We Go Again – the Effective Repeal of Dodd-Frank As Xmas Gift to Bankers?

The high-flying banks are at it again. There has been lobbying going on to sneak a clause in the continuing resolution to fund the government over the holidays for the December 11th deadline. The provision they are trying to sneak in would allow the banks to trade derivatives through subsidiaries that are federally insured by the FDIC. In other words, they are circumventing the very reforms of the 2007-2009 crash.

Webmaster's Commentary: 

This is a Call to Keyboards for Rivero's Rangers out there: please call your Congress Critters, and let them know that if this language is included as a rider into any bill, the only office they should worry about running for next time.... is that of dog catcher!!!

Don't threaten or use foul language; be impossible-to-ignore polite in your communications. But let them know that should they do this, their career as an ALLEGED "public representative" is over, kaput, nada, ...gone.

Given that Congress is going to ignore you, to appease the money junkies, your next 20 phone calls should go to friends and neighbors, to let them know that Congress is going to make THEM pay for Wall Street's crimes.

Dec 10 09:15

U.S. PROTESTERS DEMAND: END SECRECY, RELEASE THE TEXTS ON TRANS-PACIFIC PARTNERSHIP

Cassidy Regan, trade organizer for Popular Resistance, remarked that after public pressure the European Union recently agreed to release its negotiating proposals for the Trans-Atlantic Trade and Investment Partnership to the public. The EU wanted to release the full text of the agreement but was blocked by the United States.

“The trade agreements being drafted in secret threaten everything from worker rights and wages to public health and access to medicines. The negotiators keep texts hidden because these agreements aren’t made with the public in mind — instead, they serve to give transnational corporations further power to exploit people and the planet for the sake of profit. The unprecedented lack of transparency denies communities’ right to know policies that could impact so many aspects of our lives, for generations to come.”

Webmaster's Commentary: 

That the TPP is negotiated behind the backs of the American people, and with no transparency whatsoever, demonstrates, painfully clearly, that the US government is being run BY the Corporations; OF the Corporations; and FOR the Corporations.

We the People have become irrelevant and expendable to this government, and it is high time that this stops!

Dec 10 08:42

2021: Gold at 10,000.00, Silver at 700.00, an Empirical Model

Deviant Investor's Gary Christenson empirical model projects a Gold price of $10,000 by the year 2021 and a Silver price any where from $500 - $1,000. Gary notes that these numbers are based on simple mathematical projections using current levels of government spending which will undoubtedly continue unabated. Gary's conservative empirical model does NOT even factor in the possibility of US debt default, Weimar-style hyperinflation of the Dollar or other dramatic economic catastrophes.

Dec 10 08:38

Too Poor To Eat: Man Reduced To Tears As He Describes Being Unable To Afford Food

Speaking to LBC radio Mike says: “I live in a tiny room, and what you get covers just what you need, and you have to go to food banks, and sometimes I’m living off a tin of spaghetti a day, or a tin of beans, and there are people out there who really are struggling, and it’s not fun.

“For these people to sit there to say oh go and get a job – I’m out there every day, looking and searching, and you know you’re trying to do it on your own, but you can’t, and it gets harder and harder.

“You’re just trying to get by. Some days I can’t eat. I don’t eat.”

Dec 10 08:38

36 DEAD BANKER COVERING THE TRUTH

Dec 10 08:37

FDR’s 1933 Gold Confiscation was a Bailout of the Federal Reserve Bank

President Franklin Delano Roosevelt’s 1933 executive order outlawing the private ownership of gold in the United States was arguably unconstitutional. But why did he do it ? Many historians and economists point to efforts to get the economy moving again as the reason, the theory being that people were hoarding gold and the velocity of money in circulation needed to be sped up.

But the real reason for the gold confiscation was a bailout of the privately-controlled Federal Reserve Bank. And the evidence has been printed right in front of our faces.

SHARE THIS ARTICLE WITH YOUR SOCIAL MEDIA