ECONOMY

Jul 04 14:26

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

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

Jul 04 14:07

OBAMA: 'Our Immigration System Is Broken'

DUH!

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

Jul 04 13:54

Coming To America: Disease and Violence

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

Jul 04 12:07

Capitalism: A System of Patrimonial Wealth

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

Jul 04 10:57

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

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

Jul 04 08:01

DOW 17,000: This is Your 1929 Moment

Jul 04 07:21

South Korea, China agree to direct trade in national currencies

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

Jul 04 07:18

Congress No Longer Required to Report Expensive Trips Paid

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

Jul 04 06:27

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

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

Jul 04 04:38

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

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

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

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

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

Jul 04 04:34

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

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

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

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

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

Jul 04 04:27

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

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

Jul 03 13:30

NOW HIRING: Government (NO THANKS)

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

Jul 03 13:13

July 4 Barbecue Costs Climb to Record: Chart

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

Jul 03 13:07

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

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

Jul 03 13:02

MILITARY BASES ‘TURNING INTO REFUGEE CAMPS’

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

Jul 03 12:47

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

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

Jul 03 12:45

ECONOMIC REALITIES: Those euromyths in full

Jul 03 12:41

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

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

Jul 03 11:23

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

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

Webmaster's Commentary: 

Absoflippinglutely unbelievable!!a

Jul 03 10:59

Students and graduates speak out against growing debt

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

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

Jul 03 10:21

Establishment Pushing “Cashless Society” to Control Humanity

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

Jul 03 09:49

The Dow Jones Industrial Average: A Fata Morgana

The Dow Jones Industrial Average (DJIA) Index is the only stock market index that covers both the second and the third industrial revolution. Calculating share indexes such as the Dow Jones Industrial Average and showing this index in a historical graph is a useful way to show which phase the industrial revolution is in. Changes in the DJIA shares basket, changes in the formula and stock splits during the take-off phase and acceleration phase of industrial revolutions are perfect transition-indicators. The similarities of these indicators during the last two revolutions are fascinating, but also a reason for concern. In fact the graph of the DJIA is a classic example of fictional truth, a Fata Morgana.

Jul 03 09:21

Financial Expert: The Crash Is Coming

Jul 03 09:00

£40 billion in UK local authority cuts by 2020

The loss and destruction of many local government services in the UK is to escalate over the next six years. Massive cuts resulting in hundreds of thousands of job losses and the elimination of vitally needed services have already been imposed by local councils nationwide

Jul 03 08:57

Six months after marijuana legalization: Colorado tax revenue skyrockets as crime falls

At the Native Roots Apothecary, a discreet marijuana shop in a grand old building in Denver’s busy 16th street shopping mall, business is so brisk that customers are given a number before taking a seat to wait their turn.

There are young men in ball caps, nervous-looking professionals in suits, and the frail and elderly. Staff say customers have been flocking to their outlets since Colorado voted to allow recreational pot use for adults from January.

Six months on, Colorado’s marijuana shops are mushrooming, with support from local consumers, weed tourists and federal government taking a wait-and-see attitude.

Tax dollars are pouring in, crime is down in Denver, and few of the early concerns about social breakdown have materialized – at least so far.

Webmaster's Commentary: 

Looks like good news all around, at least for the moment!! :-)

Jul 03 08:56

People Not In Labor Force Rise To New Record, Participation Rate Remains At 35 Year Lows

Those following the labor force participation rate (which as even the Census Bureau showed is declining not so much due to demographics but due to older people working longer and pushing younger people out of the labor force as we showed yesterday) will hardly be surprised to learn that alongside today's impressive NFP print, the reason why the unemployment rate took another big step lower from 6.3% to 6.1%, was once again as a result of the number of people not in the labor force, which in June rose to a fresh record high of 92,120K, up 111K from June.

Jul 03 08:46

The BRICs Are Morphing Into An Anti-Dollar Alliance

Slowly but surely the BRICS – that proud Goldman acronym which was conceived to perpetuate the great American way of life by releasing trillions in US-denominated debt in heretofore untapped markets – are morphing into an anti-dollar alliance.

Before the crucial visit to Beijing next week, the governor of the Russian Central Bank, Elvira Nabiullina met Vladimir Putin to report on the progress of the upcoming ruble-yuan swap deal with the People’s Bank of China and Kremlin used the meeting to let the world know about the technical details of its international anti-dollar alliance.

Webmaster's Commentary: 

There should be a sense of urgency here by the BRIC nations, because the US is already, at least in proxy mode, at war with both Russia and China.

The US government's policies concerning the Ukraine and the support of Japan toward a more aggressive "self-defense" policy ( just approved this week) are testaments to this reality.

Jul 03 08:24

World Bank and UN carbon offset scheme 'complicit' in genocidal land grabs

Plight of Kenya's indigenous Sengwer shows carbon offsets are empowering corporate recolonisation of the South

Jul 03 08:05

Is This a Self-Sustaining Recovery or As Good As It Gets?

The reality is that nothing has been done to address the structural rot at the heart of the U.S. economy.

Opinions about the U.S. economy boil down to two views: 1) the recovery is now self-sustaining, meaning that the Federal Reserve can taper and end its unprecedented interventions without hurting growth, or 2) the current uptick in auto sales, new jobs, housing sales, etc. is as good as it gets, and the weak recovery unravels from here.

Jul 03 07:39

Pump it: Dow hits 17,000 for first time

U.S. stocks rose on Thursday, lifting the Dow industrials above 17,000, after the government reported the economy created a better-than-expected 288,000 jobs in June and the unemployment rate fell to 6.1 percent.

Jul 03 07:29

(Another) Idiot Economist Says We Need "Major War" to Save the Economy

Webmaster's Commentary: 

Here's your rifle...

Jul 03 07:16

Nevada woman whose Obamacare enrollment was delayed died of cancer

A cancer-stricken Nevada woman whose health insurance coverage was delayed due to enrollment troubles with her state’s Obamacare-mandated health care exchange has died.

Linda Rolain, who has battled an aggressive brain tumor but didn’t receive insurance coverage until it was too late — despite numerous attempts to enroll in Nevada’s problem-plagued insurance exchange — succumbed to her cancer Monday, the Las Vegas Review-Journal reported.

Webmaster's Commentary: 

"See? I told you Obamacare would lower costs! It is based on the same tried and tested method we use over at the VA. Ignore 'em 'til they die! HUGE savings!" -- Official White Horse Souse

Jul 03 07:13

Treasurys sink as ADP stokes jobs day jitters

Automatic Data Processing Inc. said Wednesday that the U.S. added 281,000 private-sector jobs in June, substantially higher than the 179,000 added in May. The reading, which was the highest since the end of 2012, beat expectations of 210,000.

The report is often used as an early reading on the more heavily-watched nonfarm payrolls report, which is due out on Thursday. Economists expect the report to show 215,000 new jobs in June.

Webmaster's Commentary: 

That include the people hired to keep watch on those 65,000 illegal kids?

Jul 03 06:53

Jobs Surge & Yields Jump, What Does It Mean?

Jul 03 06:49

Russia may legalize bitcoin – Bank of Russia deputy chairman

The Bank of Russia has signaled it is ready to legalize the world’s first mainstream cryptocurrency, despite the big risks and setbacks the digital money has experienced. The Bank’s recognition means it can better regulate it, and even collect tax.

Jul 02 22:17

UK Methodists still half-hearted about BDS

UK Methodists sidestepped a proposal to “strengthen the Church’s commitment to Boycott, Divestment and Sanctions (BDS) as a peaceful and effective method to persuade the State of Israel to end its military occupation of the Palestinian territories… by applying BDS to Israel in addition to the illegal settlements”. And they did so on a day when Israelis were ramping up their wildly disproportionate murder spree and collective punishment against Palestinians

Jul 02 20:49

Tom Lehrer - Send the Marines

A little musical editorial comment from the Great Mathmetician,Satirist and self described Agnostic Atheist Tom Lehrer! Things haven't really changed!

Jul 02 18:16

America’s Real Foreign Policy – A Corporate Protection Racket

The question of how foreign policy is determined is a crucial one in world affairs. In these comments, I can only provide a few hints as to how I think the subject can be productively explored, keeping to the United States for several reasons. First, the U.S. is unmatched in its global significance and impact.

Jul 02 16:34

Ikea, Gap Raise U.S. Workers Minimum Wages

Jul 02 16:03

The absurd reason why the government stole my parents’ savings…

In the Land of the Free alone, there are hundreds of federal, state, and local agencies that have all the firearms and legal authority they need to kick in doors, freeze accounts, and seize assets.

You don’t even have to be doing anything wrong. Hell you don’t even need to be anywhere in the vicinity. If your ‘stuff’ just happens to be in the wrong place at the wrong time, it can be confiscated.

Almost every week, some government agency is holding an auction of other people’s confiscated property.

And at nearly every one of them is some poor guy’s collection of gold eagles and Canadian Maple Leaf coins.

This is reason enough to consider holding at least a portion of your physical assets abroad.

Jul 02 15:36

Billionaires Warn of Global Economic COLLAPSE & CRISIS!

Incidentally, they're right to be afraid of paper money. Their basic premise that paper money around the world is going to be worth less and less over time is absolutely correct. They have the correct basic premise. They should run from paper money.

Jul 02 15:34

Stocks Are Officially More Overvalued Than During The Last Bubble Peak

Current forward S&P 500 P/E: 15.6x
Forward S&P 500 P/E on October 9, 2007: 15.2x

Jul 02 13:51

Financial Bubble Implosions. Asset Price Inflation and Social Inequality

It is now common knowledge that the U.S. economy has in recent years been experiencing extremely uneven developments. While the financial sector has been enjoying enormously high rates of growth, the real sector is mired in stagnation or dismal growth rates. Accordingly, while the financial oligarchy is reaping the lion’s share of this fantastic growth of asset-price inflation, the overwhelming majority of citizens are suffering from the systematically declining standards of living.

Jul 02 13:28

The Economic Crisis Is Accelerating Because Debt Is Not Wealth

Debt on debt is not going create wealth. The world is swimming in unfathomable debt. The question is, when will this global economic system go down in flames?

Jul 02 12:29

How corporations became people you can't sue.

“The lawsuits against Target would almost certainly not be possible against Amazon,” says Paul Bland, executive director of Public Justice. “It’s got its ‘vaccination against legal accountability’ here.”

Jul 02 12:23

Will Tap Water Be the Next Food Stamp?

Jul 02 12:19

Bitcoin for Oil? The Latest Threat to the Petrodollar System

A Kuwaiti firm has proposed a massive shift in the payment method for Gulf oil exports from U.S. dollars to Bitcoin. This is the just the latest potential attack upon the petrodollar system.

Jul 02 12:13

Vacant Lots On Chicago Blocks, Just $1 Each

Jul 02 11:59

Gold & Silver Hit Multi-Month Highs As ETF Inflows Surge Most In 21 Months

The last 2 days have seen something 'odd' happen in gold markets. As the China commodity finance deals are unwound and massive futures positions squeezed, Gold ETFs have seen the biggest inflows since September 2012 (and are their highest in 2 months). Whether this is the start of trend is unclear (as perhaps the conspiracy 'fact' proof of manipulation and rigging in the gold markets stalled the hollowing out of the gold complex). Ironic that this considerable rise should occur shortly after rumors of Germany's end to repatriation calls. Gold (and silver) has broken out once again this morning after the early dump on ADP 'good' news is well bid to 3-month highs.

Jul 02 11:40

The Heat is On: How to Stay Cool without Air Conditioning

It's heatwave time again!

All across the country, the mercury is climbing...and staying there, way up at the top of the thermometer. But running an air conditioner at full blast to combat the heat can be very expensive, and for those of us on a budget, the resulting bill can be crippling.

So what is a family with no air conditioning to do?

Jul 02 10:02

The Global Economic Crisis: Causes and Devastating Consequences

In all major regions of the world, the economic recession is deep-seated, resulting in mass unemployment, the collapse of state social programs and the impoverishment of millions of people. The economic crisis is accompanied by a worldwide process of militarization, a “war without borders” led by the United States of America and its NATO allies. The conduct of the Pentagon’s “long war” is intimately related to the restructuring of the global economy.

Jul 02 09:48

Stone Cold Proof That Government Economic Numbers Are Being Highly Manipulated

How in the world does the government expect us to trust the economic numbers that they give us anymore? For a long time, many have suspected that they were being manipulated, and as you will see below we now have stone cold proof that this is indeed the case. But first, let’s talk about the revised GDP number for the first quarter of 2014 that was just released. Initially, they told us that the U.S. economy only shrank by 0.1 percent in Q1. Then that was revised down to a 1.0 percent contraction, and now we are being informed that the economy actually contracted by a whopping 2.9 percent during the first quarter. So what are we actually supposed to believe? Sometimes I almost get the feeling that government bureaucrats are just throwing darts at a dartboard in order to get these numbers. Of course that is not actually true, but how do we know that we can actually trust the numbers that they give to us?

Jul 02 09:43

Turning My Attention Back to Silver

Jul 02 09:27

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

A lot of people that I talk to these days want to know “when things are going to start happening”. Well, there are certainly some perilous times on the horizon, but all you have to do is open up your eyes and look to see the global economic crisis unfolding. As you will see below, even central bankers are issuing frightening warnings about “dangerous new asset bubbles” and even the World Bank is declaring that “now is the time to prepare” for the next crisis. Most Americans tend to only care about what is happening in the United States, but the truth is that serious economic trouble is erupting in South America, all across Europe and in Asian powerhouses such as China and Japan. And the endless conflicts in the Middle East could erupt into a major regional war at just about any time.

Jul 02 09:01

The End of an Era for U.S. Consumer Spending

Jul 02 08:55

Turkmenistan’s gas will flow to Europe via Turkey

In an effort to reduce dependency on Russian natural gas and position itself as a key player amid rising European energy demands, Turkey recently agreed to increase its energy co-operation with Turkmenistan.

After a meeting last month in Ankara between President Abdullah Gul and his Turkmen counterpart Kurbanguly Berdymukhamedov, Gul told reporters that Turkey is determined to deliver Turkmen gas to European markets.

While details of the agreement are unclear, the addition of Turkmen gas flowing through the Trans-Anatolian Natural Gas Pipeline (TANAP) is expected to benefit Turkey, which currently obtains about 60 percent of its natural gas from Russia. The TANAP pipeline is under construction and is scheduled to be operational by 2018.

Jul 02 08:27

Top Global Central Bank Issues Dire Economic Warning

According to the 84th annual report released by the super-secretive Bank for International Settlements, the next financial crisis will be worst than the last.

Jul 02 08:21

A Declaration of Independence — In virtual CONGRESS

Whenever any Form of Government becomes destructive of these ends, it is the Right of the People to alter or to abolish it, and to institute new Government, laying its foundation on such principles and organizing its powers in such form, as to them shall seem most likely to effect their Safety and Happiness.

When in the Course of human events, it becomes necessary for one people to dissolve the political bands which have connected them with another, and to assume among the powers of the earth, the separate and equal station to which the Laws of Nature and of Nature’s God entitle them, a decent respect to the opinions of mankind requires that they should declare the causes which impel them to the separation.

The Declaration of the fifty United States of America

Jul 02 08:20

Bubble Finance At Work: How The Share Repurchase Mania Is Gutting Growth And Leaving Financial Wrecks Like Radio Shack

Janet Yellen is a chatterbox of numbers, but most of them are “noise”. And that’s her term.

Yet here is a profoundly important set of numbers that you haven’t heard boo about from Yellen and her mad money printers. To wit, during the “difficult” economic times since the financial crisis began gathering force in Q1 2008, the S&P 500 companies have distributed $3.8 trillion in stock buybacks and dividends out of just $4 trillion in cumulative net income.That’s right, 95 cents of every dollar they earned—including the huge gains from restructurings, downsizings and job terminations—was flushed right back into the Wall Street casino.

Jul 02 08:09

U.S. Bridges In Danger Of Collapse

Jul 02 08:01

Venture Capitalist Buys Entire Stash Of ‘Silk Road’ Bitcoins At U.S. Marshall Auction

A single entity successfully scooped up the entire ~30,000 haul of Bitcoins that the US government seized from Silk Road.

The successful bidder at the government’s auction was V.C. Tim Draper (in partnership with Vaurum) who is infamous as the ideator of viral marketing, a marketing method for spreading a software application from customer to customer (making one wonder if the $19 million bid was more publicity stunt that investment).

However, Vaurum has launched trading platforms in emerging markets, and we will be partnering with Tim to leverage the pool of ~30,000+ bitcoins as a liquidity source.

Jul 02 07:51

Starting Today Interest On New Student Loans Rises By 20%

While the new quarter has started with a bang for the capital markets and those 1% who actually benefit from one after another record high courtesy of the Fed's "fairy dust", July 1 is an important date for another group of Americans: students. However, instead of more wealth, America's aspiring intelligentsia has something far less pleasant to look forward to, namely more debt, because today is when higher interest rates for education loans kick in. Starting July 1 all new loans for the 2013/2014 student year will increase from 3.86% to 4.66%, a 20% increase.

Jul 02 06:49

Should Bit Coin be Legal Everywhere?

Michael Rivero - No July 4th fireworks in Hawaii

Jul 01 13:03

In dry California, water fetching record prices

Throughout California’s desperately dry Central Valley, those with water to spare are cashing in.

As a third parched summer forces farmers to fallow fields and lay off workers, two water districts and a pair of landowners in the heart of the state’s farmland are making millions of dollars by auctioning off their private caches.

Nearly 40 others also are seeking to sell their surplus water this year, according to state and federal records.

Economists say it’s been decades since the water market has been this hot. In the last five years alone, the price has grown tenfold to as much as $2,200 an acre-foot — enough to cover a football field with a foot of water.

Jul 01 10:20

Stocks on fire. Dow close to 17,000

The Dow jumped over 155 points (0.9%), while the S&P 500 is trading at a record of 1,976. The Nasdaq is also surging, up 1.3%. The Dow is less than 20 points away from crossing 17,000 for the first time ever.

Webmaster's Commentary: 


When the media treats the stock market like it is a sports score, you know we are in trouble!

Jul 01 09:19

A History of Gold Confiscation: The Infographic

From Roosevelt’s 1933 Executive Order, to Mussolini, to the Nazi confiscation of Czech gold, and concluding with more recent confiscations by the Australian and British governments, the infographic provides detailed information regarding all modern-era gold confiscation episodes.

Jul 01 09:12

New York police, firefighters lose pension fight in Court of Appeals

The state's highest court ruled that cops and firefighters must continue to contribute 3% of their gross wages to their pension plans, without the city paying another 5% as it did years before.

Jul 01 09:02

17 Facts That Prove That The Quality Of Jobs In America Is Going Down The Drain

Do you wish that you had a better job? If so, you are not alone. In fact, there are millions upon millions of Americans that get up every day and go to a job that they wish that they could afford to quit. Unfortunately, most Americans end up just desperately holding on to the jobs that they have because just about any job is valuable in this economic environment. Over the past decade, the long-term trends that are destroying jobs in America have accelerated. We have seen countless numbers of jobs shipped overseas, we have seen countless numbers of jobs replaced by technology, we have seen countless numbers of jobs taken by immigrants and we have seen countless numbers of jobs lost to the overall decline of the once great U.S. economy. Unfortunately, even though we can all see this happening, our “leaders” have failed to come up with any solutions.

Webmaster's Commentary: 

OF COURSE, government is not going to come up with any meaningful solutions, because their election cycles are financed, overtly and covertly, by the large corporations which make money by outsourcing, off-shoring, and hiring cheap (and many times, illegal) labor!!!!

There is utterly no representation of We the People anymore; just representation of the large corporations the money from which can steer elections to their liking, because they know precisely what the quid pro quo will be.

Jul 01 08:42

China to Set Yuan Clearing Banks in Luxembourg, Paris

In its continued push to make the yuan a global currency, China’s central bank said Sunday it plans to designate clearing banks for its currency in Paris and Luxembourg, as the two financial centers battle with London to become the leading European offshore yuan-trading city.

The People’s Bank of China announced the move in two separate statements Sunday. It didn’t say when it would designate the clearing banks.

The French and Luxembourg central banks said Sunday they had signed agreements with PBOC allowing for greater cooperation in the oversight of their domestic yuan market.

The weekend moves are the latest salvos in the race to win a major share of business in cross-border transactions in the Chinese currency. Singapore and Sydney are also vying for a significant share of the global yuan market, which is expected to expand rapidly along with China’s fast-growing economy.

Webmaster's Commentary: 

That bell you hear tolling in the distance is for the coming demise of the US Petrodollar as the world's primary reserve currency.

Jul 01 06:20

Why Sanctions Against Russia Won't Work

Given that American companies are firmly entrenched in the post-Communist pro-profit Russia and that they are firmly entrenched in the American political system through both political contributions and lobbying, surely, they are using some of their political clout to prevent the Obama Administration from effectively imposing any sanctions against Russia that may interfere with their ongoing business plans and profits? With the intertwining nature of the global economy today, one can't help but shoot oneself in the foot when imposing tough and meaningful economic sanctions on another nation. While the sanctions against Russia, at some point, may impact the Russian man/woman on the street, those who are at the top of the oligarchy food chain are still driving (or being driven) around the streets of Moscow in their Bentleys, Range Rovers and Ferraris and not really caring about the impact of sanctions.

Jun 30 13:30

Orders for US durable goods drop 1 percent in May

Orders for U.S. durable goods tumbled 1 percent in May as demand for military equipment fell sharply. But excluding defense-related goods, orders actually rose, and orders in a key category that signals business investment also increased.

Jun 30 13:04

Lump sum repayments approved in Detroit bankruptcy

Detroit retirees will be allowed to repay generous annuity returns with a lump sum in the city's bankruptcy case.

A single payment could be cheaper than stretching it over time.

The city is proposing to recover as much as 20 percent of the money paid between 2003 and 2013. Emergency manager Kevyn Orr says guaranteed annuity returns paid during that time put stress on the pension system.

Detroit plans to recoup the money as part of its plan to get out of bankruptcy. But under a deal announced Monday, retirees can pay it off with a single payment.

Jun 30 09:18

Mini Tax Havens: How Europe’s 1% Gets To Pay Only 1%

Something completely out of the ordinary happened in Spain this week: a politician resigned. His name is Willy Meyer and he was, until Wednesday morning at least, a Member of the European Parliament (MEP) and European Parliamentary leader for Spain’s ostensibly far-left party “Izquierda Union.”

The reason for Meyer’s resignation is that he was caught funneling his parliamentary pension contributions into an EU-sponsored investment fund commonly referred to as a SICAV (standing for Société d’Investissement à Capital Variable) – an investment vehicle that Meyer’s own party has long pledged to ban.

Jun 30 09:18

California governor signs bill legalizing bitcoin

California Governor Jerry Brown signed into law a bill making alternative currencies, including bitcoin, lawful in the state.

Webmaster's Commentary: 

"You can't DO that!!!!" -- Every Private Central Banker in the world in unison!

Jun 30 09:14

Russia Reveals "Plan B": Gazprom Says Gas Transit Via Ukraine May Be Stopped Completely

A few days ago, when we wrote our "explainer" on the need for Russia to have an alternative pathway for its gas, one which bypasses Ukraine entirely and as the current "South Stream" framework is set up, crosses the Black Sea and enters Bulgaria before passing Serbia and Hungary on the way to the Central European energy hub located in Baumgarten, Austria, we said that "one short month after Putin concluded the Holy Grail deal with Beijing, he not only managed to formalize his conquest of Europe's energy needs with yet another pipeline, one which completely bypasses Ukraine (for numerous reasons but mostly one: call it a Plan B), but scored a massive political victory by creating a fissure in the heart of the Eurozone, after Austria openly defied its European peers and sided with Putin."

Webmaster's Commentary: 

One has to wonder if the cutting off of the pipelines in Ukraine will be interpreted by Europe, the US, the EU, and NATO as an act of war, justifying military reprisals.

Jun 30 09:13

Argentina Must Pay $539 Million Today - Default Imminent

Argentina is poised to miss a bond payment today, putting the country on the brink of its second default in 13 years, after a U.S. court blocked the cash from being distributed until the government settles with creditors from the previous debt debacle.

Jun 30 07:17

Watch Out for that Banana Peel

Recently, the EU announced that it is looking into legislation to allow the savings of EU citizens to "be used to fund long-term investments to boost the economy and help plug the gap left by banks since the financial crisis."

Sounds reasonable enough. But why would legislation be needed? It's perfectly legal for people to invest their savings in such ventures now, should they choose to do so.

Let's see what else the EU have to say: They are considering a law "to mobilize more personal pension savings for long-term financing." Mobilise? An odd term to use when discussing privately held savings. It could mean "encourage investment," or it could just as easily mean "confiscate." The former might be okay, but the latter would clearly not.

Jun 30 07:06

Why do we hate the poor?

Today, families in Detroit, living under an emergency manager imposed by a governor committed to privatizing every inch of the state, are having their water shut off. A few days ago, the United Nations, at the behest of local activists, issued a statement on the shutoffs.

This is what it’s come to – appealing to an international body to uphold the basic human right to water.

Jun 30 07:02

This is an actual quote from the president — really

“By every economic measure, we are better off now than we were when I took office. You wouldn’t know it, but we are,” the president said Friday.

That’s right, the president — the president of the United States, mind you — says Americans are better off, they just don’t know it.

That is the height to which the president has raised his level of mendacity. He has the sheer audacity to tell Americans that he has successfully turned the economy around, that things are all good, but that there are no real quantifiable indicators by which they could ever know that.

In fact, Mr. Obama says Americans have never had it so good.

Jun 30 06:57

This man claims Microsoft stole his greatest idea — & Android users are still paying for it 18 years later

“It was like the Wild West,” Morris told me. Amidst all the competition and innovation in the 1990s, lines of ethics and justice were blurred. “I didn’t think they’d actually get a patent on it, because for a patent you need something novel,” Morris said, “and we’d been selling it already for well over a year.”

U.S. Patent 6,101,510 makes absolutely no mention of V_Graph or its browser extension. According to Section 101 of the U.S. Patent Act, an invention is patentable if it is new, useful, and non-obvious. According to Morris, Microsoft’s patent meets only one of those requirements. Since V_Graph had sold the technology a year prior, it’s nothing new. Since the technology itself is simply the combination of a browser and a software component, it’s nothing non-obvious. Yet, since millions of Android users are forking over licensing fees to Microsoft, it’s clearly useful.

Jun 30 06:29

Profiteering on Banker Deaths: Regulator Says Public Has No Right to Details

A man with a long history of keeping big bank secrets safe from the public’s prying eyes has denied the appeal filed by Wall Street On Parade to obtain specifics about the worker deaths upon which JPMorgan Chase pockets the life insurance money each year.

Webmaster's Commentary: 

Apparently another JP Morgan banked was killed, this time in a hit-and-run.

Jun 29 17:29

ALL WARS ARE BANKERS' WARS! UPDATED!

"Banking was conceived in iniquity and was born in sin. The Bankers own the Earth. Take it away from them, but leave them the power to create deposits, and with the flick of a pen they will create enough deposits to buy it back again. However, take it away from them, and all the fortunes like mine will disappear, and they ought to disappear, for this world would be a happier and better world to live in. But if you wish to remain slaves of the Bankers and pay for the cost of your own slavery, let them continue to create deposits." -- Sir Josiah Stamp, President of the Bank of England in the 1920s, the second richest man in Britain

Webmaster's Commentary: 

I am helping Zane collect material for an updated version of the video for "All Wars are Bankers' Wars" and decided to add them to the original article as illustrations.

At present, this article and video are being chased around the net by an obvious team of paid propagandists attacking everything in it, denouncing it all as "fake" and "conspiracy", that I am a "commie kook", and how Private Central Bankers are a beacon unto the world, the salvation of us all, yadda yadda yadda from which I deduce that the schemers behind Private Central Banking are getting very worried indeed that the people of planet Earth are onto their little centuries old scam!

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Jun 29 15:24

Austerity-driven European politicians 'whip up' hostility towards minority groups

Politicians and media are scapegoating national and sexual minorities to redirect the anger of austerity-affected Europeans on the vulnerable instead of the bankers who created the economic crisis

Jun 29 15:22

McDonald’s Goes Broke in Bolivia Due to Boycott

McDonald’s happy image and its golden arches aren’t the gateway to bliss in Bolivia. This South American country isn’t falling for the barrage of advertising and fast food cooking methods that so easily engulf countries like the United States. Bolivians simply don’t trust food prepared in such little time. The quick and easy, mass production method of fast food actually turns Bolivians off altogether. Sixty percent of Bolivians are an indigenous population who generally don’t find it worth their health or money to step foot in a McDonald’s. Despite its economically friendly fast food prices, McDonald’s couldn’t coax enough of the indigenous population of Bolivia to eat their BigMacs, McNuggets or McRibs.

Jun 29 15:21

Greece Riot 29/06/2014

Jun 29 08:23

Martin Armstrong Warns Civil Unrest Is Rising Everywhere: "This Won't End Pretty"

The greatest problem we have is misinformation. People simply do not comprehend why and how the economic policies of the post-war era are imploding. This whole agenda of socialism has sold a Utopian idea that the State is there for the people yet it is run by lawyers following their own self-interest. The pensions created for those in government drive the cost of government up exponentially with time. The political forces blame the rich and this merely creates a class warfare with no resolution for the future. Even confiscating all the wealth of the so-called rich will not sustain the system. Consequently, we just have to crash and burn and start all over again.

Jun 29 08:07

Bonds Away ... Ka-boom!

"I used to think if there was reincarnation, I wanted to come back as the president or the pope or a .400 baseball hitter. But now I want to come back as the bond market. You can intimidate everybody." - - James Carville, Democratic Strategist

Jun 28 09:35

Baby bust: US fertility rates hit all-time lows

The Great Recession has more women, especially Latinas, postponing childbirth?

The impact of the U.S. recession will reverberate for generations to come as women — both Anglos and Hispanics — continue to postpone having children.

For the second year in a row, deaths of non-Hispanic whites outnumbered births from July 1, 2012, to July 1, 2013, according to population estimates released Thursday by the U.S. Census Bureau.

“These are the only two years in U.S. history when more non-Hispanic whites died than were born,” said Kenneth Johnson, senior demographer at the University of New Hampshire’s Carsey Institute. Births have been fewer for some time, “but the decline since the onset of the Great Recession has been precipitous.”

Webmaster's Commentary: 

I really feel for these women, but I cannot blame them one bit for postponing their pregnancies; but there is a finite limit for gals in terms of time as to how long they can postpone their pregnancies, and still deliver a healthy baby.

I hope they are in contact with their health care professionals (if they have them) about how long they can reasonably postpone having kids, if they do want to have a family.

Jun 28 06:57

5 Reasons the Rich Are Ruining the Economy by Hoarding Their Money

It has been nearly four decades since the Reagan revolution in supply-side economics came to power in the United States. Tax rates on the wealthiest Americans are at near record lows, asset values have been pumped up to record highs, and corporate America is sitting prettier than ever before. There can be no question but that the ideologues who promoted supply-side economics have succeeded in enforcing their vision policy on our lives. But their decades-long experiment has also proven to be structural failure at every possible level (except for padding the pockets of the top 1%.) Here are five things we know without doubt about supply-side economics today:

Webmaster's Commentary: 

I am tired of being "trickled" on!

Jun 28 06:56

Steel committee says dire report should spur Ottawa to act

City councillors have hailed a new study on the impact of U.S. Steel leaving town as just the club they need to beat on the federal government.

The review done by city staff warns Hamilton faces the loss of up to $22 million a year in tax revenue if the American company pulls out at the end of next year. That's on top of fears almost 15,000 area pensioners could lose up to 40 per cent of their retirement income and expected spillovers from the loss of 600 production jobs in Hamilton.

Members of the city's steel issues subcommittee agreed Friday everyone knew the loss of U.S. Steel would hurt, but now they have solid research to back their claims.

Jun 28 06:38

Study Reveals Secret Bailouts to Canadian Banks

Jun 27 09:51

Old, broke, and financially unprepared for retirement: Many older Americans are simply unprepared for the costs associated with retirement.

America is graying out. The massive cohort of baby boomers are now entering retirement age at a rate of close to 10,000 per day, or roughly 300,000 per month. Many are fully unprepared for the challenges associated with retiring and living a life where work income becomes a smaller source of support.

Webmaster's Commentary: 

What they are really unprepared for is that the US Government took all that Social Security money out of their paychecks their entire life, "borrowed" it to spend elsewhere, and now can't pay it back.

Jun 27 08:21

Spain, Italy warn citizens against doing business with settlements

Nations join France, U.K. and Germany in advising against legal and financial risks.

Jun 27 08:15

How the DOW is rigged!

This system Controls what the stock market will do
in the time frame of five days or less "To the Minute, To the Penny"

Jun 27 08:01

Head Of Fourth Largest Albanian Bank Assassinated In Broad Daylight

It was about two months ago when in a shocking development in the otherwise sleepy tax-evasion haven of Lichtenstein, the CEO of local Bank Frick, was murdered in the underground garage of the bank by a disgruntled former client. As readers may recall, the tragic event happened at a time when there was a spike in banker suicides, prompting us to wonder if "with the first open bank CEO murder, one wonders if there will be a change in the pattern." Two months later it appears as if the vector of death is indeed changing when, as Reuters reported, overnight the head of the fourth largest bank in Albania, Credins, was murdered, shot at least five times, as he entered his office in the capital Tirana.

Jun 27 08:00

Triangulation: Israel-Turkey-Kurdish Oil Deal Points to Possible Alliance

The reports about the selling of Kurdish oil to Israel via Turkey open new vistas for triangular economic relations between Israel, Turkey, and the Kurds. It may also pave the way to improved political relations between Israel and Turkey. In the 1960s there existed a discreet peripheral alliance between Israel, Iran, and the Kurds. That alliance, to which the United States was a quiet partner for a short time, was aimed at, among other things, supporting the Kurds in their fight against the government in Baghdad. However, the main flaws of this alliance were its secretiveness, which made it in a way unbinding, and the fact that it was solely militarily oriented. A similar alliance can be forged now between Israel, Turkey, and the Kurds, but unlike the earlier one, it should be open and based on joint economic interests, which might guarantee its longevity.

Webmaster's Commentary: 

So, at this point, Iraq has been, effectively, balkanized, between the rise of ISIS, which is just on the border of Baghdad as I type this, the Russian military intervention here, and the ascent of Kurdistan.

For all the blood and money spent, the US has, effectively, lost control of Iraq, both militarily and monetarily.

Has the pathological inability to think things through to their logical conclusion become a prerequisite to serving in the American government?!?

Because in looking at the current epic fails of both American domestic and foreign policies, the short answer has to be, HELL, YES!!

Jun 27 07:38

China aims to break U.S. hold in Asia with rival to World Bank

Beijing diplomats on charm offensive to rally support for new institution free from U.S. control.

China wants to set up a multilateral development bank in Asia to break the U.S.’s financial hold on the continent, the Financial Times reported Tuesday, citing officials familiar with the matter.

It said that Chinese officials have been touring Asia and the Middle East drumming up support for a new institution with $100 billion in capital, with a view to financing major development projects such as infrastructure. The FT said 22 countries across the region have expressed interest so far.

Such an institution would be a direct rival to the World Bank and the Asian Development Bank, which China thinks are too much influenced by the U.S. and its ally, Japan.

Webmaster's Commentary: 

The US government would rather go to war with China than to see this happen.

There is only one, MINOR problem here; the American people are war weary, and infinitely more geopolitically savvy than when the US government went to war against Afghanistan and Iraq, and do not want any ore war, period, end of discussion.

War against China, to prevent its economic ascent, isn't a hard sell to the American people; it is a no-sell.

Jun 27 07:21

'US aims to thwart Chinese Silk Road project proclaiming its Asia pivot’

A Chinese idea of creating two New Silk Roads could be a big boom for a lot of people who live along the Silk Road route, and obviously all the countries at both ends of it, China expert Ann Lee told RT.

Jun 27 07:21

'The US is pushing its NATO allies to sanction Russia to please Wall Street'

The US is aggressively pushing NATO allies in Europe towards sanctions, while some of them are resisting for their own economic interests because it is harmful to them, Sara Flounders, the head of the International Action Center told RT.

Jun 26 09:38

Feds Spent $4.8 Billion on Obamacare Exchanges So Far

The federal government has spent nearly $5 billion to establish federal and state exchanges for Obamacare, according to a report by the Congressional Research Service (CRS).

The funding was provided by a section of the Affordable Care Act that allowed for “indefinite” funding at the discretion of the Secretary of Health and Human Services (HHS).

“The Centers for Medicare & Medicaid Services (CMS) is incurring significant administrative costs to support [federally-facilitated exchanges] FFE operations,” the report, which was released earlier this month, said.

Jun 26 09:29

GM halts sales of Cruze model over airbags

General Motors has told dealers in the US and Canada to halt sales of some Chevrolet Cruze cars due to a potential problem with the airbag.

It said the driver's side airbag in the affected cars may not deploy properly, due to a wrong part being used.

Webmaster's Commentary: 

And the taxpayers had to bail these people out? I think it would have been better to let them go out of business and let some new car companies start up!

Jun 26 08:31

Gazprom Ready To Drop Dollar, Settle China Contracts In Yuan Or Rubles

In other words just as the US may or may not be preparing to export crude - a step which would weaken the dollar's reserve status as traditional US oil trading partners will need to find other import customers who pay in non-USD currencies - the world's two other superpowers are preparing to respond. And once the bilateral trade in Rubles or Renminbi is established, the rest of the energy world will piggyback.

Jun 26 08:14

What Crude Oil Says About Silver

Crude oil prices have many reasons to explode higher and few to drop lower. The trend has been up for more than a decade. Central banks will print, politicians will instigate more wars and invasions, and each euro, yen, and dollar will purchase even less crude oil and gasoline. It is business as usual, but with an extra dollop of chaos, war, and price inflation tossed into the mix….

Jun 26 08:11

The Biggest Scam In The History Of Mankind - Hidden Secrets of Money 4

Jun 26 08:03

All Wars Are Bankers' Wars ON VIMEO!

All Wars Are Bankers' Wars from Helle534 on Vimeo.

Webmaster's Commentary: 

Facebook is NOT blocking the URL to the Vimeo version of this video!

Jun 26 06:54

The homelessness crisis in England: a perfect storm

Last year, 112,070 people declared themselves homeless in England – a 26% increase in four years. At the same time, the number of people sleeping rough in London grew by 75% to a staggering 6,437. Why? A £7bn cut in housing benefit, welfare reforms and a huge lack of affordable housing

Jun 26 06:54

House passes bill to weaken Dodd-Frank and help Wall Street, Koch brothers

The House of Representatives voted Tuesday to water down key parts of the 2010 Dodd-Frank Act, weakening the Commodity Futures Trading Commission’s power to regulate derivatives. The resulting bill helps big banks and the Koch brothers.

The bill reauthorizes the CFTC’s mandate, which expired in October 2013, for five years. It would also reverse the commission’s tough rules on U.S. businesses' swaps with counter-parties abroad, requiring it to draw up a new regime together with the Securities and Exchange Commission. Critics contend that the loosening of regulations could weaken market stability, Reuters reported.

“The purpose of this bill is to remove barriers to business growth that have been imposed by over-reaching and burdensome regulations,” Rep. Michael Grimm (R-NY) said, according to HedgeCo.net.

Jun 26 06:52

IRS’s Lerner sought tax audit of Iowa Sen. Chuck Grassley over his wife’s free meal

Lois G. Lerner, the woman at the center of the Internal Revenue Service’s tea party targeting scandal, tried to get her agency to conduct an audit involving a sitting U.S. senator, according to emails released Wednesday by the House Ways and Means Committee.

Ms. Lerner suggested that the IRS look into whether it was wrong for a group to pay for Sen. Chuck Grassley’s wife to attend an event where he was slated to speak. Her suggestion was shot down by another IRS employee who said the arrangement appeared to be legal.

But the email chain, which was turned over to Congress as part of its investigation, raises more questions about Ms. Lerner.

“At every turn, Lerner was using the IRS as a tool for political purposes in defiance of taxpayer rights,” said Rep. Dave Camp, Michigan Republican and chairman of the Ways and Means Committee.

Jun 26 06:48

The Massive Tax Increase Hidden Inside Obamacare

he ACA ... is full of implicit taxes. Many of them have remained hidden in the "fog of controversy" surrounding the law and their effects excluded from economic analyses of it.

Jun 26 06:47

1000s of homeless Brazilians protest in Sao Paulo

Thousands of homeless people have held a protest against their poor living conditions in Brazil’s largest city, Sao Paulo, as the South American country hosts the 2014 FIFA World Cup.

Jun 26 06:45

Historians reveal secrets of UK gun-running which lengthened the American civil war by two years

New historical and archaeological research is shining an embarrassing light on one of the darkest periods of British foreign policy.

Investigations by a leading Scottish maritime historian have succeeded, for the first time, in locating the main secret British headquarters of the American Civil War Confederate government’s transatlantic gun-running operation.

Other research, carried out over the past decade, has revealed the extraordinary extent to which substantial sections of Britain’s business elite were working with impunity to help the slave-owning southern states win the Civil War – despite the fact that Britain was officially neutral and had outlawed slavery almost 30 years earlier.

Webmaster's Commentary: 

The reason Britain was assisting the Confederacy had nothing to do with slavery and everything to do with Abraham Lincoln funding the war with a government-issued currency instead of borrowing bank notes at interest from private bankers.

"If this mischievous financial policy, which has its origin in North America, shall become endurated down to a fixture, then that Government will furnish its own money without cost. It will pay off debts and be without debt. It will have all the money necessary to carry on its commerce. It will become prosperous without precedent in the history of the world. The brains, and wealth of all countries will go to North America. That country must be destroyed or it will destroy every monarchy on the globe." -- The London Times responding to Lincoln's decision to issue government Greenbacks.

In 1872 New York bankers sent a letter to every bank in the United States, urging them to fund newspapers that opposed government-issued money (Lincoln's greenbacks).

"Dear Sir: It is advisable to do all in your power to sustain such prominent daily and weekly newspapers... as will oppose the issuing of greenback paper money, and that you also withhold patronage or favors from all applicants who are not willing to oppose the Government issue of money. Let the Government issue the coin and the banks issue the paper money of the country... [T]o restore to circulation the Government issue of money, will be to provide the people with money, and will therefore seriously affect your individual profit as bankers and lenders." -- Triumphant plutocracy; the story of American public life from 1870 to 1920, by Lynn Wheeler

"It will not do to allow the greenback, as it is called, to circulate as money any length of time, as we cannot control that." -- Triumphant plutocracy; the story of American public life from 1870 to 1920, by Lynn Wheeler

"Slavery is likely to be abolished by the war power, and chattel slavery destroyed. This, I and my European friends are in favor of, for slavery is but the owning of labor and carries with it the care for the laborer, while the European plan, led on by England, is for capital to control labor by controlling the wages. THIS CAN BE DONE BY CONTROLLING THE MONEY." -- Triumphant plutocracy; the story of American public life from 1870 to 1920, by Lynn Wheeler

The private banking families of Europe had been horrified at the upstart United States throwing off the slavery of the Bank of England, then darting to shut down the first two attempts to re-enslave them to private central banks (the first such shut down triggered the war of 1812 and the second the attempted assassination of Andrew Jackson).

The banking families of Europe saw in the Civil War a chance to end Lincoln's greenbacks and with a Confederate victory, bring the United Stares back into the clutches of a predatory banking system where all commerce must be carried out using bank notes borrowed at interest from the bankers; the very system the United States had fought a revolution to be free of.

"The refusal of King George 3rd to allow the colonies to operate an honest money system, which freed the ordinary man from the clutches of the money manipulators, was probably the prime cause of the revolution." -- Benjamin Franklin, Founding Father

At one point, both Britain and France considered invading the United States ion support of the Confederacy but were held at bay by Russia, which had just ended the serfdom system and had a state central bank similar to the system the United States had been founded on.

Britain's gun-running to the Confederacy was never about the slavery of the blacks, but about the slavery of all people to the private central banks.

Jun 26 06:24

SR 287 Trey Gowdy Stuns IRS Chief

Jun 26 06:12

Putin Fires Warning Shot - Russia May Bar Firms Using Foreign Banks

With the cease-fire on shaky ground in Ukraine, and the ongoing proxy war between the US and Russia growing in intensity (once again ignited in Syria); it seems Putin has fired a significant warning shot across the bow of the west. Reuters reports that Russia is considering banning state companies and other strategically important firms from holding accounts at foreign-owned banks.

Jun 26 06:12

For most families, wealth has vanished

A new study published by the Russell Sage foundation helps explain why many families feel like they’re falling behind: They actually are. The study, which measures the average wealth of U.S. households by income level, reveals a startling decline in wealth nationwide. The median household in 2013 had a net worth of just $56,335 -- 43% lower than the median wealth level right before the recession began in 2007, and 36% lower than a decade ago. “There are very few signs of significant recovery from the losses in wealth suffered by American families during the Great Recession,” the study concludes.

Webmaster's Commentary: 

But the money-junkies are doing just fine!

Jun 26 05:38

Bank Runs in Bulgaria

Now we have bank runs in Bulgaria. The entire fabric is coming undone and this is part of the fuel that sends everything into chaos and the risk of war as tensions rise and people blame someone else be it rich, foreigners, bankers, or corporations. This is the time where clear reasonable thinking and solutions become impossible.

The IMF is now urging the ECB to start buying government bonds of the member states. They have no solutions but the same old bad of tricks. There is nobody even capable of thinking out of the box in a position of power. We are plagued by lawyer-politicians in the total absence of anyone with experience in international money management – the void of experience and statesmanship.

Webmaster's Commentary: 

The ECB is buying up bonds the same way the FED is buying Treasury bills; with money created out of thin air, which may make the books look balanced but drives the people deeper into poverty as the value of the currency they are paid plunges from the hyperinflation.

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