Sep 29 13:10

US national debt is so bad now that the U.S. Treasury has simply stopped reporting it

"Officially," the U.S. national debt has frozen in time, though "unofficially" it continues to grow at a frenetic pace.

What's going on? Did the federal government suddenly become fiscally responsible and we are no longer accumulating country-destroying debt?

If you believe the U.S. Department of the Treasury, yes. As reported recently by CNS News, the national debt froze for more than 21 days.

Sep 29 11:53

U.S. Goods Exports Plummet as Dollar Rises, Commodity Prices Fall

U.S. goods exports fell to a multiyear low in August, a potential drag on the economy amid falling commodity prices, slow overseas growth and a stronger dollar.

Exports of goods slid a seasonally adjusted 3.2% to $123.09 billion as overseas sales of industrial supplies--which includes oil--autos, consumer goods and foods all fell, according to the Commerce Department's advance report on trade in goods. While the report's historical data only reaches back to 2013, other figures suggest that exports dipped to the lowest level since mid-2011.

Sep 29 11:38

Vanishing Gold

Sep 29 11:11

Stock Markets Crashing into the 2015.75

Sep 29 11:08

CrossTalk: Exiting recession

The recession in Russia is turning out to be longer and deeper than most economists had expected.

Sep 29 10:06

I.M.F. Cautions on Concentrated Positions in U.S. Mutual Funds

The International Monetary Fund warned on Tuesday of the large positions that mutual funds in the United States have built in high-yielding bonds issued by risky companies here and in emerging markets around the world.

Sep 29 09:49

The Bankruptcy of America – 1933


Sep 29 09:02


Four in 10 Americans say they have "a great deal" or "a fair amount" of trust and confidence in the mass media to report the news fully, accurately and fairly. This ties the historical lows on this measure set in 2014 and 2012. Prior to 2004, slight majorities of Americans said they trusted the mass media, such as newspapers, TV and radio.

Webmaster addition:

Sep 29 08:59

People who live in France will not be allowed to make payments of more than 1,000 euros ($1,123) in cash, down from 3,000 now. – France steps up monitoring of cash payments to fight ‘low-cost terrorism’

Terrorism is just an excuse, they want to monitor every transactions to fight tax dodgers, but only for the pleb. Politicians and other elite can still hide their money off shore.

Sep 29 08:24

The End of the World Has Come… and Gone!

Two thousand years ago the Roman historian and journalist Tacitus wrote a wonderful description of the eviction of money merchants (really debt merchants) from Italy in A.D. 27 by the Roman Emperor Tiberius Caesar (it was not Jesus, BTW; that story was I believe embedded in the bible assembled at the Council of Nicaea in A.D. 300 because the Word of the Son of God would carry more weight against the Ancient Curse of Usury than that of a rather obscure Roman Emperor.

By the time Tiberius took over, the Roman Empire was in an economic shambles and the Romans had had enough of compound interest with its massive rates, bankruptcies and multiple foreclosures forced by private money merchants that robbed them of their properties, just like today.

Sep 29 07:56

The Difference Between Gold and Debt

Sep 29 07:52

Brooklyn Rental Rates Higher Than Manhattan’s?

Will Brooklyn’s rental rates soon be higher than Manhattan’s?

Sep 29 07:51

Hillary Clinton’s Plan to Lower Medical Costs

Hillary Clinton recently unveiled a plan to help lower medical costs for U.S. citizens.

Webmaster addition: the announcement of a huge price increase in a drug (retracted just one day later) was obviously a PR stunt to hand Hillary an issue she can talk abut that is not the email server!

Sep 29 07:51

1 in 4 U.S. Homes Decline in Value

According to a recent study, 1 in 4 U.S. homes are now worth less than they were a year ago.

Sep 29 07:50

Starbucks Introduces New Latte

Starbucks’ famous fall drink, the Pumpkin Spice Latte, is back. But this year it has some competition.

Sep 29 07:23

Is Glencore The Next Lehman? The World’s Largest Commodities Trading Company Is Toast

Are we about to witness the most important global financial event since the collapse of Lehman Brothers in 2008? Glencore has been known as the largest commodities trading company on the entire planet, and at one time it was ranked as the 10th biggest company in the world. It is linked to trillions of dollars of derivatives trades globally, and if the firm were to implode it would be a financial disaster unlike anything that we have seen in Europe since the end of World War II. Unfortunately, all signs are pointing to an inescapable death spiral for Glencore at this point.

Sep 29 04:35

Is the Stock Market Top in?

Sep 29 03:53

Civil Asset Forfeiture: A System in Need of Reform

While forfeiture law initially had a narrow and commendable goal, its scope has since expanded dramatically. Today, more than 400 federal statutes covering a wide array of crimes authorize forfeiture.[3] In addition, virtually every state has its own body of forfeiture laws. These statutes allow for the seizing of all manner of real and personal property, from a family’s home to a small business’s bank account. As forfeiture’s reach has grown, so too has the risk of seizing property from innocent people. Unfortunately, there are few procedural protections for innocent property owners. It is fair to characterize forfeiture law as an unlevel playing field that favors law enforcement in nearly every way possible.

Sep 28 21:56

Disaster Capitalism: Outsourcing Violence and Exploitation

Antony Loewenstein offers us a superb description of the diminishing power of national governments and international organisations to exercise power in the modern world as multinational corporations consolidate their control over the political and economic life of the planet.

Sep 28 16:53

The Week Begins On A Scary Note

Sep 28 16:38

“Looming Catastrophe from Diseased Rates”: Billionaire Icahn Warns of Danger Ahead

Billionaire investor Carl Icahn, who is something of an economic rock star, is releasing a video Tuesday that warning of potential looming financial catastrophe.

Carl Icahn has drawn attention recently after reportedly endorsing Donal Trump’s candidacy for president, and apparently being recruited by Trump as his potential Treasury Secretary.


Sep 28 15:57


Sep 28 15:19

Kingdom in Crisis: Saudi Arabia Pulls up to $70 Billion from Global Markets

Saudi Arabia pulled as much as $70 billion from global markets as it tries to cut its budget deficit after a sustained slump in oil prices and the country's ongoing offensive in Yemen, according to financial services market intelligence company Insight Discovery.

Sep 28 13:33

UBS Is About To Blow The Cover On A Massive Gold-Rigging Scandal

With countless settlements documenting the rigging of every single asset class, it was only a matter of time before the regulators - some 10 years behind the curve as usual - finally cracked down on gold manipulation as well, even though as we have shown in the past, central banks in general and the Fed in particular are among the biggest gold manipulators.

That said, we are confident by now nobody will be surprised that there was manipulation going on in the gold casino. In fact, ever since Germany's Bafin launched a probe into Deutsche Bank for gold and silver manipulation, it has been very clear that the only question is how many banks will end up paying billions to settle the rigging of the gold market (with nobody going to prison as usual, of course).

Sep 28 13:32

Whole Foods Market to cut about 1,500 jobs

Sep 28 13:31

Whole Foods to cut 1,500 jobs over next eight weeks

Grocery chain Whole Foods is cutting about 1,500 jobs over the next eight weeks as it looks to lower prices and keep up with competition. The cuts represent about 1.6% of its workforce.

Sep 28 13:26

Whole Lotta Bear Markets Goin’ On

Sep 28 13:03

Brainless in Washington

Washington’s IQ follows the Fed’s interest rate — it is negative. Washington is a black hole into which all sanity is sucked out of government deliberations.

Washington’s failures are everywhere visible. We can see the failures in Washington’s wars and in Washington’s approach to China and Russia.

Sep 28 12:21

US housing market losing steam?

Sep 28 11:43

Russia, Cuba, Emirates consider making big transport hub in Cuba

"The countries consider a large-scale trilateral project, featuring Russia, Cuba and the United Arab Emirates, on organisation of a big transport hub, which will include modernisation of the Mariel sea port and construction of a modern international airport and a cargo terminal on the basis of an aerodrome in San Antonio de lost Banos".

Sep 28 11:11


Because most everything we buy gets more expensive over time, we have to earn more money each year just to maintain our existing standard of living. When we're not given raises that keep up with this rate of inflation, we're effectively suffering a pay cut.

Sep 28 11:04

9.4 Million More Americans Below Poverty Line Than Pre-Crisis

Despite the Fed continuing to kick this down the road, they continue to claim that we are in the middle of an ongoing recovery. There’s just one problem with that: things are getting worse than pre-crisis levels for millions of the poorest Americans.

Webmaster's Commentary: 

The "alleged recovery" is only for the one percent, not the rest of us, who are generally desperately trying to keep our heads above water financially.

Sep 28 10:33


Many people want to go to America in search of better life and to fulfill their dreams. However, the United States that was once seen as a stronghold of freedom and numerous opportunities has turned into a place where financial elites run the show and turn the country into their personal private army, Marco Maier wrote in Contra Magazine.

The money is being invested into the military apparatus and the intelligence services so that a small upper class can advance its international business. The majority of the population, however, is increasingly sinking in misery, the journalist argued.

Maier referred to “The Economic Collapse Blog” to prove his point of view and cited a number of facts that demonstrate the poor economic situation in the United States.

Webmaster's Commentary: 

We can see it all around us; the deteriorating state of streets, highways, and schools.

We can see the anger on the faces of the homeless, who never chose to be homeless, but had it thrust upon them. We can see the frustration of families, trying to feed their children healthy meals, and are dealing with almost Weimar-era inflation.

One has to wonder what will happen when the whole US economy comes crashing down in one big heap.

Sep 28 10:23

Gold In Brazilian Reals

Sep 28 10:16

Swiss authorities probe 7 banks for suspected metals price fixing

Swiss competition authorities said Monday they were investigating UBS, HSBC, Deutsche Bank and four other major banks for suspected price fixing in the trade of precious metals like gold and silver.

The Swiss Competition Commission (COMCO) said it was looking into whether seven banks had colluded to manipulate prices in the precious metals market.

The watchdog said in a statement that it had "opened an investigation against two Swiss banks, UBS and Julius Baer, as well as against the foreign financial institutions Deutsche Bank, HSBC, Barclays, Morgan Stanley and Mitsui."

COMCO, which opened a preliminary probe in February, said it now had indications that the banks had "possibly concluded illegal competition defying deals" in the trade of the precious metals gold, silver, platinum and palladium.

"We think they can have manipulated the price of these precious metals," COMCO deputy chief Patric Ducrey told AFP.

Webmaster's Commentary: 

GEE, ya THINK?!?!?

Sep 28 09:54

Classic Putin

Sep 28 09:03

The Decline of Democracy and Capitalism in Britain Advances

Britain is not a democracy any more. The Government is now bowing down to a few extremely powerful organisations that funds their very existence.

Sep 28 08:11

Former Volkswagen boss, Martin Winterkorn, investigated for fraud amid emissions cheating scandal

German prosecutors have launched an investigation into former Volkswagen boss Martin Winterkorn over the rigging of vehicle emissions tests, as the carmaker suspended three top engineers in an attempt to tackle the crisis.

Sep 28 07:52

Glencore = Next Lehman Brankruptcy?

Sep 28 07:46

Donald Trump to unveil tax plan Monday

Republican presidential front-runner Donald Trump is set to roll out a tax plan Monday he says will reduce rates for lower and middle-income families as well as corporations, while increasing rates for some, like hedge fund managers who he says don't pay enough.

Sep 28 07:37

Glencore shares obliterated after analysts warn they could be worthless

Glencore shares plunged 30pc in afternoon trading to a new record low after analysts warned the stock could be worthless if commodity prices remain at current levels.

The shares went into freefall after analysts at Investec issued a note warning that heavily indebted companies such as the Swiss-based mining and trading giant could see almost all their equity value eliminated under current commodity prices, leaving nothing for shareholders.

Almost £2bn was wiped off the value of Glencore as investors panicked and dumped the stock.

Sep 28 07:19

Trump promises a ZERO per cent tax rate for millions: He plans to cut tax for the poor, middle classes and corporations, soak the rich... and pay for it all by 'taking jobs back' from China

Donald Trump announced radical plans for a 'large segment' of Americans to pay a federal income tax rate of zero per cent during a '60 Minutes' interview Sunday night.

It is the first time the presidential candidate has revealed details of his tax plan, which would also cut taxes for the middle class and corporations. Interviewer Scott Pelley repeatedly challenged him on the viability of the ambitious-sounding scheme.

According to Trump, hiking taxes on Wall Street executives and abolishing tax breaks for the most well-off will pay for much of the plan, which will also restore jobs lost to China and Mexico.

Sep 28 07:03

Commodity Prices - Chart Since 2000

Sep 28 06:06

Ohio cardiologist convicted of overbilling $7.2 million

CLEVELAND (AP) — A federal court jury in Cleveland has convicted a cardiologist of ordering unnecessary medical tests, performing unnecessary procedures and submitting fraudulent bills in what prosecutors say was a $7.2 million scheme.

Sep 27 19:30

Negative interest rates and QE4 is coming

Sep 27 18:59

39% of US children spend at least one year in poverty, 75% of US Black children. Demanding arrests and OBVIOUS economic reforms yet?

*hyperlinks/videos live at source*

hat tip: What Really Happened, Everything Finance, CBS MoneyWatch

1-minute video of three former US Treasury Secretaries in grandiose laughter over poverty (using the euphemism “income inequality”):

Urban Institute reports that nearly two of every five American children spend at least one year in poverty before age 18, with a stunning 75% of US Black children in poverty for at least one year.

CBS interviewed the study author, Caroline Ratcliffe:

"It did surprise us. When we look at the annual number of children in poverty, it's at about 20 percent, and we know children cycle into and out of poverty, so we knew it would be higher, but double is startling."

Sep 27 16:42

Did The PBOC Covertly Buy 1,747 Tonnes Of Gold In London?

China. This started to change on 18 September 2013 when I published my first analysis on the structure of the Chinese gold market with the Shanghai Gold Exchange (SGE) at its core; a topic that since then has been discussed by researchers at investment banks, in the blogosphere and in the mainstream media. The Western gold space has learned a great deal about the Chinese gold market and global gold flows, though we’re always left with loose ends. For example, the issue regarding PBOC gold purchases; how much gold do they truly have and where was it bought? Does the PBOC buy 400-ounce Good Delivery (GD) bars in London and covertly transports these gold bars to its gold vaults in China mainland, or are the Good Delivery gold bars shipped to Switzerland, refined into 1 Kg 9999 gold bars, sent forward to the Chinese mainland where they’re required to be sold through the SGE gold exchange and from where they can be bought (in clear sight) by the PBOC.

Sep 27 11:50

Captain Tsipras On Stormy European Sea

Today, the European Union as a supranational organisation and its leading member states have essentially found themselves held hostage by the countries of Central and European Europe, through which the transit routes of hundreds and thousands of refugees pass and onto which ‘Old Europe’ is pushing the most acute contradictions caused by the migration crisis. It is unsurprising, therefore, that Greek society, exhausted by its political crises and social and economic problems, saw an opportunity in the current situation to assert its rights and interests more loudly. All that the Greek people can do now is hope that Captain Tsipras will be able to steer his ship between all the reefs in their voyage on the stormy European sea, a voyage that is risky, but promises certain benefits.

Sep 27 11:31

Pope To U.N: Financial Agencies Must "Help Limit Every Kind Of Abuse Or Usury," Reject "Oppressive Lending Systems"

In his speech to the U.N. on Friday, Pope Francis once again denounced usury, adding "The International Financial Agencies should care for the sustainable development of countries and should ensure that they are not subjected to oppressive lending systems which, far from promoting progress, subject people to mechanisms which generate greater poverty, exclusion and dependence."

Sep 27 09:00

The "Hard-Landing" Has Arrived: Chinese Coal Company Fires 100,000

In a move that would make even Hewlett-Packard's Meg Whitman blush, Harbin-based Heilongjiang Longmay Mining Holding Group, or Longmay Group, the biggest met coal miner in northeast China which has been struggling to reduce massive losses in recent months as a result of the commodity collapse, just confirmed China's "hard-landing" has arrived when it announced on its website it would cut 100,000 jobs or 40% of its entire 240,000-strong labor force.

Sep 27 08:54

Fed Refuses To Comment On Yellen's Health

While the world was focused on the content of Yellen's Thursday speech in Amherst for clues on whether the Fed Chair would back off her disturbingly dovish outlook on the world, what was the real surprise was the delivery: as we showed previously, there was a very troubling 100 second interval at the very end of the 50 minute, 5,000+ word speech, in which the 69-year old Yellen suddenly seemed unable to read the words on the page, was rereading the same phrase over and over, paused for long stretches at a time, and then had a violent reaction that forced her to end her speech prematurely.

Sep 27 08:46

Maine mayor: ‘Name and shame’ welfare recipients so special needs kids will stay out my state

Robert MacDonald, mayor of Lewiston, said on Sunday that he wanted to publish a registry of welfare recipients because he was annoyed by disabled children coming to the state for help.

In a column last week MacDonald explained his plan to publish names, addresses and other personal information of welfare recipients.

According to MacDonald, Somali refugees were not the problem in his city because they had jobs. But he complained that “the domestic people” were abusing welfare benefits.

“They’re coming into our state, and what’s happened here is we have a school system,” MacDonald opined. “And one of the things about our schools system is second to none, it’s special ed education department that attracts them all.”

Webmaster's Commentary: 

One is forced to conclude that MacDonald's "modest proposal" with which to "cure" the problem of kids with disabilities and their families coming to Maine because of their special ed programs is euthanasia for those children (perhaps he could get very excited by the idea of death of these children by firing squad), and the immediate, forcible sterilization of their mothers.

Mengele and Sanger would be SO DARN PROUD OF THIS GUY!!!!

Sep 26 18:10

Will Markets Plunge Below 2009 Low?

Sep 26 17:49

Fisher Funds: Ugly politics can affect business confidence

After travelling to Australia or the United States, I delight in returning home - not because of my home comforts and familiarity but because of the people.

I think Kiwis are polite, understated and somehow more refined than Aussies and Americans. I know this is a sweeping generalisation and there are lots of exceptions but, honestly, after spending days with loud, opinionated and sometimes aggressive people, I welcome the reserve of New Zealanders.

Watching new Australian Prime Minister Malcolm Turnbull overthrow Tony Abbott last week, I again felt thankful to live in Aotearoa with our altogether more civilised people and political arena. Sure, we have leadership coups, political bickering and name-calling but we're tame compared to the Australians.

Sep 26 16:05

50 Uses for Pure Lavender Essential Oil

Pure lavender oil is an incredible essential oil to use for your own health and wellness. It’s among the gentlest of essential oils, but also one of the most powerful, making it a favorite of households for the healing properties and uses of lavender essential oil.

According to Modern Essentials, the properties within a quality brand of lavender oil include: Analgesic, Anticoagulan, Anticonvulsant, Antidepressant, Antifungal, Antihistamine, Anti-infectious, Anti-inflammatory, Antimicrobial, Antimutagenic, Antiseptic, Antitumor, Cardiotonic, Regenerative, Sedative.

Sep 26 15:19

HACKING MAP: Watch live as 'China launches countless hack attacks on UK and USA'

According to self-proclaimed "spooky company" Norse Corp, which is staffed by ex-NSA (National Security Agency) and US military staff, this is how global cyber warfare plays out on a daily basis in 2015.

The "shady" corporation has developed a realtime interactive map that shows users hacking attempts and cyber attacks from the four corners of the Earth as they happen.

The map today showed the bulk of attacks - which are portrayed like laser beams blasting across the atlas of the world before striking their target which emits a wave of cyber ripples - were coming from rising superpower China.

Sep 26 14:47

Gold "Tightness": When There's No More To Sell, There's No More To Buy (At Any Price)

One of our long-running themes here is that the truly historic and massive flows of gold from West to East is (someday) going to stop, for the simple reason that there will be no more physical bullion left to move.

It’s just a basic supply vs. demand issue. At current rates of flow, sooner or later the West will entirely run out of physical gold to sell to China and India. Although long before that hard limit, we suspect that the remaining holders of gold in the West will cease their willingness to part with their gold.

So the date at which “the West runs out of gold to sell” is somewhere between now and whenever the last willing Western seller parts with their last ounce. As each day passes, we get closer and closer to that fateful moment.

Webmaster's Commentary: 

At that point, if the US Government has taken our guns, they will come for our gold and silver.

Sep 26 13:08

Auckland Transport: Fined while you were sleeping...

Auckland Transport issued 12,000 parking fines in the last year in the early hours - that's 33 every night while you were sleeping.

And the night patrol has scooped close to $1 million with tickets issued between midnight and 6am.

Victims who have woken up to $40 fines on their windscreens have slammed the practice.

"It's revenue-gathering. It's really that simple," said Michelle Konik, whose son was ticketed in a 2am blitz in Tautari St, Orakei.

Auckland Transport employs a dedicated night team.

Figures obtained by the Herald on Sunday show 12,028 tickets were issued in greater Auckland between midnight and 6am from August 2014-2015.

The combined fines were worth $914,724 to council coffers.

The figures also show the council-controlled organisation has budgeted revenue of $31.9m this financial year from parking fines.

That revenue target equates to a basic $40 parking fine being issued 797,500 times - or 2184 tickets a day.

Sep 26 12:30

The Most Interesting Story In Gold

Sep 26 12:21

Weekend Reading: Fed Confusion

Sep 26 11:05

Why Everyone Should Fight Their Traffic Tickets: Every Time

I have beaten over 15 traffic (revenue) tickets in California, including one in CA Superior Court of Appeals (without a lawyer.)
It is very important to remember the presumption of innocence in this country. So many people tend to think, perhhaps subconsciously, that when they "get a ticket" they just "have to pay it". When people ask why I am so adamant about fighting traffic tickets, I recount the incident which occurred in June 2001 that spawned my insistence on "pleading not guilty every time. . I obeyed the cop's orders to proceed to the checkpoint, and when I got there the cop manning the checkpoint sneered with a big grin on his face, "there's someone behind you". It was a motorcycle traffic cop, who proceeded to issue me a ticket for purportedly 'running a red light' (the same light that the first cop had demended we all go through.)

Sep 26 10:57

Austerity is being used as a cover-story for class war against the poor, Yanis Varoufakis says

Austerity and deficit reduction are being used as a cover-story for conducting class war against the poor, an economics professor who served as Greece’s finance minister has said.

Yanis Varoufakis noted simultaneous reductions in taxes on the wealthy and cuts to spending on social security amounted to a redistribution of wealth away from the poor to the rich.

“The problem is that austerity is being used as a narrative to conduct class war,” Mr Varoufakis told the BBC’s Question Time programme.

“To be talking about reducing the state further when effectively what you are doing is reducing taxes like inheritance tax and at the same time you are cutting benefits – that is class war.”

Sep 26 10:04

HP Dumps 30,000 Jobs, But Still Cranking Up H1B Guest-Workers

Hewlett Packard Enterprise (NYSE: HPQ) announced on Tuesday that the company will cut about 10 percent of its 300,000 member workforce, but appears to be moving “forward” with expanding its use of H1-B foreign work visas.

Sep 26 09:17

The Fed’s Alice In Wonderland Economy – What Happens Next?

By Nick Giambruno

After the president of the United States, the most powerful person on the planet is the chairman of the Federal Reserve. Ask almost anyone on the street for the name of the U.S. president, and you’ll get a quick answer. But if you ask the same person what the Federal Reserve is, you’ll likely get a blank stare.

They don’t know – partly due to the institution’s deliberately obscure name – that the Fed is really the third iteration of the country’s central bank. Or that the Fed manipulates the nation’s economic destiny by controlling the money supply. And that’s just how the Fed likes it. They’d prefer Boobus americanus not understand the king-like power they wield...

Sep 26 08:00

The PR Pope Was Picked To Save The Vatican…Not The World

For many decades, the catholic church has been struggling with a tarnished image, due to their draconian policies, outdated rules and the widening child molestation scandals involving large numbers of catholic priests. The Vatican lost even more credibility after the selection of the previous pope, who looked like a vampire and was literally a card holding member of Hitler’s youth organization when he was young.