ECONOMY

Jul 04 17:48

Largest Austrian Bank Crashes After “Revealing” 40% Surge In Bad Debt Provisions, Record Loss

Austria’s largest bank by assets, and the third biggest bank in Eastern Europe after UniCredit and Raiffeisen, announced that, oops, its earlier forecast about the amount of bad loans on its books is wrong, and will have to rise by a massive 40%, leading to what will be a record $2.2 billion loss, and triggering writedowns.

Shareholders, not used to being told the truth and instead preferring sweet, little lies, promptly took the stock to the woodshed.

Jul 04 17:47

By "Punishing" France, The US Just Accelerated The Demise Of The Dollar

Not even we anticipated this particular "unintended consequence" as a result of the US multi-billion dollar fine on BNP (which France took very much to heart). Moments ago, in a lengthy interview given to French magazine Investir, none other than the governor of the French National Bank Christian Noyer and member of the ECB's governing board, said this stunner at the very end, via Bloomberg:

Jul 04 15:50

US Exports to Russia Hit Record Levels in May Despite Sanctions

US exports to Russia rose 21 percent and reached a record high of $1.25 billion in May, according to the Bureau of Economic Analysis, an arm of the US Department of Commerce.

During the same month, American exports to the EU and China increased by only 2.5 percent and 2.2 percent, respectively.

US imports from Russia decreased by 8.5 percent in May, totaling $2.15 billion.

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 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 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 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 08:46

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 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 06:49

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 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 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 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 08:01

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!

Optional Banner: 
WRH Exclusive
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.

Jun 25 14:15

Economy in freefall? 1Q revision shows shrinkage of 2.9%

America's economy shrank at a drastic 2.9 percent annual rate in the first quarter, a far more alarming picture than ones painted in two previous government estimates -- including one that actually claimed modest growth.

Webmaster's Commentary: 

DC is already trying to claim it was the harsh winter, which will no longer be admitted to when Obama starts pushing the carbon tax again.

Jun 25 13:00

Cancel Detroit’s debt!

While tens of thousands of retired workers in Detroit spent an anxious Christmas worrying about the fate of their hard-earned pensions, they were greeted with the news that a deal had been reached to pay Bank of America-Merrill Lynch and Swiss bank UBS $165 million. If approved, as expected, by the bankruptcy court, Detroit will pay the money to the banks to “unwind” a complex financial scheme that has already drained hundreds of millions of dollars from the city.

The US bankruptcy judge and the news media have presented the deal as an example of “equal sacrifice” because the original agreement signed by Emergency Manager Kevyn Orr would have given the banks $230 million. The truth is, not a penny should be paid to the Wall Street speculators whose semi-legal, if not outright criminal, activities are largely responsible for the crisis of the city.

Jun 25 09:30

BP to sign US$20 billion gas deal with China

P is due to sign a 20-year Liquefied natural gas supply deal Tuesday worth US$20 billion with China National Offshore Oil Company (CNOOC), said BP's head in Moscow on Tuesday.

"BP will be signing a deal with Chinese CNOOC. It will be a 20-year term contract for trading liquefied natural gas (LNG) worth $20 billion dollars," said BP Group Chief Executive Bob Dudley during a press conference at the 21st World Petroleum Congress in Moscow.

In recent years the growth in demand for natural gas has led China to become the third largest LNG importer and to accelerate development of its LNG. China consumed 161.6 billion cubic meters of natural gas in 2013.

News about the deal highlights the country's strong will for greater LNG imports for its urbanization and industrialization without having the environmental impact of China's power generation through coal.

Jun 25 08:54

Why the USA and England Had to Start World War Two

Why the USA and England Had to Start World War Two
Why? Basically because their gangster overlords, the sleazy criminals that slither around the banks in Wall Street and the City of London financial district told them to get the war on.

The banksters were deathly afraid that Hitler's resuscitation of Germany's economy, which had been on life support and falling fast, but got turned around in a matter of years into what got called an economic miracle would start spreading to other nations, many of whom were being destroyed from within by the perverted banksters choke-hold on those nations.

They knew that if Hitler's plan started catching on elsewhere, their centuries old con of debt based currency would no longer be needed or used and that would put the fiat banks out of business, not only seriously impacting their very lucrative incomes, but worse, strip away all their power.

That could not be allowed to happen.

Webmaster's Commentary: 

More confirmation of the central thesis in All Ware are Bankers' Wars

And speaking of confirmation, I continue to get emails reporting that Facebook is blocking any and all attempts to link to either the text article or the video of All Wars are Bankers' Wars.

Jun 25 06:07

Massive End The Fed Organizer in Germany Gets Car Fire Bombed

Jun 25 05:57

Climate change policy could boost global GDP $2.6tn – World Bank

Astute climate policies have the potential to add $2.6 trillion to global output each year, if governments continue making ‘climate-smart’ decisions, according to a new World Bank report released on Tuesday.

Webmaster's Commentary: 

What they are saying here is that by forcing people to spend money on things they do not really want or even need, like carbon credits, the economy will be "stimulated", which means more money will be squeezed out of the pockets of ordinary citizens and into the pockets of the money-junkies. This is why we still hear about human-caused global warming despite several record-setting winters in a row and the fact that all of the scare-mongering predictions made by the carbonazis (Al Gore predicted the arctic would be ice-free this summer as one example) have never materialized.

Jun 24 13:46

It Takes Mark Cuban Less Than 90 Seconds to Outline His Dire Prediction About the Student Loan Crisis

It is “inevitable” that the student loan bubble is going to burst sometime in the future, resulting in a “repeat of what we saw in the housing market,” according to billionaire Mark Cuban.

Jun 24 13:46

Gov’t Seizes Control of All Your Financial Accounts

Everyone knows that the United States has gone bankrupt. As the U.S. government and the Fed poured trillions of dollars of YOUR money into the banks and markets after the 2008 economic collapse, this unprecedented level of money-printing is catapulting the U.S. debt to $28 trillion by 2018. But now, the U.S. government and the Fed are completely out of ammo. They desperately need money to maintain their own power, and taxes are no longer enough. So in order to keep the Ponzi scheme going, the U.S. government has made several highly controversial moves to be in position to seize control of all your financial accounts. And it’s becoming clearer by the day, if you want to protect your savings and wealth from government confiscation, you only have ONE choice.

Jun 24 13:45

Detroit water department to begin payment aid program after rate hikes, UN complaint

DETROIT, MI -- An $800,000 program to help low-income Detroiters pay their water bills will be put in place in July after services were cut off from some residents in recent months and complaints were made to a United Nations representative, officials said Tuesday.

Jun 24 12:18

Paypal limitations Scandal

Jun 24 12:02

U.S. Archivist David Ferriero: the IRS “did not follow the law”

Rep. Trey Gowdy hammered IRS Commissioner John Koskinen when he said that he found the IRS of no wrong doing. Gowdy pressed Koskinen on how he knows there was no criminal wrongdoing when he hasn’t looked at criminal statutes.

Gowdy blasted Koskinen and shouted, “You don’t have any idea of criminal wrongdoing or not!”

Gowdy, a former persecutor, told Koskinen that there is a “negative inference” because of the inability of the IRS to retrieve the Lerner emails that the IRS claim were destroyed.

It turns out though the IRS did break the law according to U.S. Archivist David Ferriero.

According to FreeBeacon.com, U.S. Archivist David Ferriero of the National Archives and Records Administration told Rep. Tim Walberg (R., Mich.) that the IRS “did not follow the law” when they failed to notify his administration that they had lost Lois Lerner’s email records.

Jun 24 11:58

City attorney: Detroiters should 'stand up and say no' to EM process

“This process is so tremendously flawed,” Smith said. “It goes against everything we’ve been taught about having a voice. It goes against everything I fight for.”

“...the people are represented by the mayor and the City Council. For one person to make a law that changes something that has been in effect...it’s something that affects the lives of so many in so many ways,” he added. “To simply say this is the way it’s going to be is wrong. It’s just a gun pointed at our heads. I’m hoping the people of the city of Detroit will stand up and say no, no more of this.”

Jun 24 10:39

Project Freedom USA

Mobilize with Jim Traficant!
end the IRS;Divorce the FED; Restore Honest Money

Webmaster's Commentary: 

Jim Traficant will be our on-air guest in the third hour of today's radio show.

Jun 24 08:43

133 G77 Nations vow to destroy America’s New World Order

When the richest and most powerful nations on Earth formed the G7, G8, G20 and the like, they united to combine their dominance over the remaining 175 countries that make up humanity. And for decades, the wealthiest 20 countries led by the US have gotten exponentially more wealthy at the expense of the poorest 175 nations, who in turn have gotten even poorer. That’s been the result of the West’s ‘New World Order’, led mainly by self-appointed global governments like the International Monetary Fund and the World Trade Organization.

Jun 24 08:02

'You have a problem with credibility': IRS chief comes under fire at House hearing

Embattled IRS Commissioner John Koskinen weathered another round of heated questioning at a Monday night hearing where lawmakers challenged his credibility over the discovery that years' worth of emails from ex-IRS official Lois Lerner have gone missing.

Webmaster's Commentary: 

Jun 24 06:39

Envoy: Venezuela Ready to Become Iran's Exports Hub in Latin America

"Venezuela is ready to turn into a center for Iran's technological exports to other Latin American states," Zambrano told FNA on Tuesday.

He referred to the attempts made by the western countries, specially the US, to prevent Iran from increasing its exports to other states, and said, "Yet, the United States' extensive sanctions against the Islamic Republic of Iran haven’t been able to prevent exports of Iran-made technology and products to the other world states."

Zambrano underscored that Washington has exerted sanctions and pressures against Tehran because the US officials are fearful of Iran's growing technology and export of its home-made technological products to the other world regions.

Iran has in recent years expanded friendly ties with Latin America, specially in economic, trade and industrial fields.

Jun 24 06:37

Russia can switch to payments with India, China in national currencies crushing dollar amid sanctions

Experts believe that the wish of the West to restrict Moscow’s cooperation with Brussels and Washington will play into the hands of the Russian economy. Wisdom and presence of mind are two components that will guarantee success for a new spiral of Russia’s cooperation with eastern countries. Also, this will allow us to counter-balance the risks that the European market is exposed to.

Jun 24 06:31

EU decision to ban imports from Crimea made under US influence

"It is a dead-end stance to punish citizens for the opinion on what country they should be in," he said.

The EU decision to ban imports from Crimea was made under US influence, Aksyonov said. "General agitation over Crimea's accession to Russia has calmed down in the EU. As far as I understand in this case the US authorities push this stance," he said.

Crimea's accession to Russia is irreversible, he said.

Webmaster's Commentary: 

"I can reverse it. I will reverse it. I am omnipotent!" -- Official White Horse Souse

Jun 24 06:29

US State Department promises financial, humanitarian assistance to Ukraine's National Guard

Deputy Secretary of State, Gregory Kausner, has visited a training center of the National Guard of Ukraine, the official website of the Ministry of Interior of the country reports. It is emphasized that Kausner is responsible for the issues of military assistance.

Webmaster's Commentary: 

"As for all those people in Detroit screaming for water, let 'em drink BEER! BWAH HA HA HA HA HA, oh my gawd I am so funny!" -- Official White Horse Souse

Jun 24 06:23

German gold repatriation leader disputes Bloomberg story

Peter Boehringer, leader of Germany's Repatriate Our Gold campaign --

http://www.gold-action.de/campaign.html

-- complains that today's Bloomberg News story about the German government's seeming confidence in the vaulting of its gold in the United States misquotes him and makes other errors and misrepresentations.

Webmaster's Commentary: 

Jun 24 02:59

THE SONASOFT SAGA - THE IRS HAS A CONTRACT WITH A COMPANY THAT BACKS UP ALL OF THEIR EMAILS!

John Koskinen's testimony before the House Ways & Means Committee basically came down to "The Dog Ate My Emails", infuriating when you consider that the IRS demands all Americans keep all financial records for up to 7 years for possible review by the IRS, while the IRS was free to dispose of embarrassing and criminal evidence at their discretion. Worse, apparently emboldened by Attorney General Eric Holser's steadfast refusal to allow the Department of Justice to open a criminal investigation into the IRS' actions (possibly to to the DOJ's own complicity in siccing the FBI on Obama's enemies), Koskinin refused to even apologize for the lost emails, barely able to keep the smirk off of his face!

Webmaster's Commentary: 

The story is going viral across the net today. By tomorrow the corporate media will have to cover it. That means Issa and Ryan will have no choice but to call the IRS on their obvious lie that there are no backups for the missing emails. Please share with all of your social media. I will keep this story at the top of the main page for a while, New stories will start just below.

Optional Banner: 
WRH breaking
Jun 23 10:31

Dr Barbara Bellar sums up Obamacare in one sentence

Imagine if you will,… one Woman with more sense than the entire U. S. Gove put together.

Jun 23 09:14

Uncashed checks, safe deposit box items may appear on unclaimed property list

Wondering about an uncashed payroll check?

Or maybe a gift card? Even something left in a safe deposit box?

The Nevada state treasurer will be publishing its yearly unclaimed property list in several of Nevada’s newspapers at the end of the month. The Las Vegas Review-Journal is scheduled to publish the list Tuesday.

The unclaimed property varies and can range from uncashed payroll checks and gift cards to assets left in safe deposit boxes at banks or hotels.

The list has 312,555 properties that have been turned over to the state between July 2013 and May. There are more than $650 million in assets.

Jun 23 08:12

Checkers Versus Chess

For quite some time, we have been predicting that the Russians and Chinese will, at some point, bring an end to the petrodollar system that has virtually guaranteed the US the position of having its currency be the world's default currency. This position has allowed the US, in recent decades, to go on a borrowing and currency-printing spree, the likes of which the world has never seen.

Jun 23 06:36

U.S DEPARTMENT OF HOMELAND SECURITY HAS TOLD BANKS - IT MAY INSPECT SAFE DEPOSIT BOXES

Jun 22 17:49

Disabled Recipients of Social Security Fund Face Hefty Benefits Cut

Congressional gridlock is threatening the already thin lifeline of Social Security benefits that nearly 9 million disabled American workers rely on to feed, clothe and shelter their families.

Known as SSDI, the trust fund is one of two administered by the Social Security Administration (the other is for senior citizens), and its reserves will run dry in late 2016, if lawmakers don’t act sooner to shore them up. But the timing is poor; it falls in an election year and experts say it could become a target for political infighting as Americans gear up to go to the polls.

Jun 22 08:50

The Secret of Oz - U.S. dollar - the hidden war and economy.

Webmaster's Commentary: 

Time for a re-link

Jun 22 08:37

The US Healthcare System: Most Expensive Yet Worst In The Developed World

It would be logical then to think that as a result of this premium - the biggest in the world - the quality of the healthcare offered in the US among the best, if not the best, in the world. Unfortunately, that would be wrong and, in fact, the reality is the complete opposite: as a recent study by the Commonweath Fund, looking at how the US healthcare system compares internationally, finds, "the U.S. fails to achieve better health outcomes than the other countries, and as shown in the earlier editions, the U.S. is last or near last on dimensions of access, efficiency, and equity." In other words: most expensive, yet worst in the developed world.

Jun 22 06:37

The Bank Of England Lost 755 Tonnes Of Gold In 2013

According to the official 2014 report, the BoE had 755 tonnes less gold in their vaults in February 2014 relative to February 2013.
However, when we look at UK’s net gold trade over this period (March 2013 – February 2014), we can see 1593 tonnes were exported.
GLD’s stock lost 451 tonnes over this period.
This leaves a gap of 392 tonnes (1593 minus 1201), which had to be supplied by additional LBMA or private vaults in London.

Jun 22 06:20

US Dollar Under Grave Threat: Russia Plans Global Retaliation For Ukraine

With the CIA-coordinated coup d’état executed in Kiev came the very real prospect of a World War III. However, the much greater war is not being waged on the urban battlefields of Eastern Ukraine or on the Russian border; rather, it’s being prosecuted in various national economies and by the world’s largest central and commercial banks, transnational corporations and market exchanges. What is at stake is the very future and viability of the US Petrodollar as the reserve currency of the planet.

Webmaster's Commentary: 

In this age of instant global financial transactions, there is no need for a global currency. The idea is a hold-over from the end of WW2 when the Bretton-Woods agreement made the US dollar the global currency in an age where most financial transactions involved physical transfers of paper. It is not Russia, but the US that weakened the dollar as a global currency, first by over-printing the dollar to loot other nations of real produce and manufactured goods for the cost of ink and paper, then by Richard Nixon ending gold convertibility. The petro-dollar concept is simple. The US forces the world's resource-rich regions to sell their resources only for the dollar, from which the US gets a mafia-like "piece of the action" of every nation's commerce. But as I pointed out above, in this age of instant global financial transactions, there is no need for a single global currency and the rest of the world is fed up with the US money-junkies getting rich on their labor.

Jun 22 06:07

Establishment is Afraid of End The Fed Movement in Germany

Webmaster's Commentary: 

Check out 4:40 where they report that the German media is declaring anyone opposed to private central banking is an anti-Semite! This is a repeat of an editorial we saw here in the US a few weeks back that claimed a desire to live free of debt was anti-Semitism, and a very angry email I received that "reminded" me that the Talmud says Hod gave the Jews all the money on Earth and the Goyim may only borrow it at interest!

Jun 22 05:53

Lost Emails? The IRS Has a Contract with an Email Backup Company

As IRS commissioner John Koskinen sat on Capitol Hill belatedly informing a Congressional committee of the "disappearance" of years of email communications from a host of IRS employees under investigation--including Lois Lerner--it was discovered that the IRS had hired an email backup company to prevent just such a loss of data.

Webmaster's Commentary: 

The story is spreading all over the net today and by tomorrow the corporate media will be forced to acknowledge it.

Jun 21 10:23

IRS head won't apologize for lost Lerner e-mails

The commissioner of the Internal Revenue Service refused to apologize to Congress Friday for losing e-mails related to its targeting of conservative groups, saying it's still attempting to recover the data and it's too soon to know how many e-mails are missing.

"I don't think an apology is owed," Commissioner John Koskinen told the House Ways and Means Committee.

Webmaster's Commentary: 

Jun 21 07:55

Secret Trade in Services Agreement (TISA) - Financial Services Annex

Today, WikiLeaks released the secret draft text for the Trade in Services Agreement (TISA) Financial Services Annex, which covers 50 countries and 68.2%1 of world trade in services. The US and the EU are the main proponents of the agreement, and the authors of most joint changes, which also covers cross-border data flow. In a significant anti-transparency manoeuvre by the parties, the draft has been classified to keep it secret not just during the negotiations but for five years after the TISA enters into force.

Webmaster's Commentary: 

IF this trade deal is so great, why did its authors try to suppress its content for another 5 years after it is passed?!?

My educated guess would be, that it will be terrific for international corporate giants, with squads of attorneys and accountants, scrambling to find the sweetest sweet spot for nearly slave-labor costs, and the biggest tax loopholes possible.

But for the start-up, boost a company up by the seat of its pants?!? Not so much!!

Jun 21 02:45

The IRS Had a Contract With an Email Backup Company

The IRS had a contract with email backup service vendor Sonasoft starting in 2005, according to FedSpending.org, which lists the contract as being for "automatic data processing services." Sonasoft's motto is "email archiving done right," and the company lists the IRS as a customer.

In 2009, Sonasoft even sent out a Tweet advertising its work for the IRS.

Webmaster's Commentary: 

SHARE THIS EVERYWHERE!

UPDATE: I think I have found out why our representatives in DC are so clueless. I tried using the contact page at Darrel Issa's website but was blocked because I am in his district. I then tried faxing a hard copy of this article to his DC office using the FAX number from his website ... four times! All four failed, the first because his FAX doesn't support color and the final three with a communications error. If any of Rivero's Rangers has a contact on Issa's committee, get this article to them now!

UPDATE 2: I tried FAXing to Darrell Issa's district office. That connection also failed.

UPDATE 3: I tried using the web form over at the Committee On Oversight & Government Reform to send them the info on Sonasoft. That too will not function, simply responding with "An error occurred" when clicking the submit button.

This cannot just be coincidence.

UPDATE 4: The above link now shows a "404 page not found" error! But there is another copy of the article saved HERE! MAKE A LOCAL COPY BEFORE IT GETS ORWELLED!

UPDATE 5: I went to an office supply store and FAXed the original article to Darrell Issa's Washington DC and district offices. Unlike my home, (where the FAX machine is only three months old) the FAXes from the office store went through without any problems at all. Here are the reports.


Issa's District office

Issa's DC office
So, Issa's office now has the information. Included hard copy of the original article, which is fortunate given that the original has been yanked from the website without explanation.

U0PDATE 6: The clients page at Sonasoft still lists the IRS as a customer, about half way down the page!

UPDATE 7: The original article at reason.com has now been restored!

Optional Banner: 
WRH breaking
Jun 21 02:45

SONASOFT TOP GOVERNMENT CUSTOMERS (pdf file)

6/20/14, 5:29 PM
Sonasoft | Government Contracts
Page 2 of 2
http://profiles.smartprocure.us/organization/sonasoft
Department of Treasury: Internal Revenue Service
$13,983
on
9/15/2010
Sonasoft Software Maintenance Renewal Contracting
Office: DEPT OF TREAS/INTERNAL REVENUE SERVICE

Webmaster's Commentary: 

Okay, this proves the IRS was using Sonasoft email backup services through the period of Lois Lerner's "lost" emails.

Jun 20 17:23

The IRS Had a Contract With an Email Backup Company - Another online copy.

The Internal Revenue Service (IRS) said it can't provide emails sent between 2009 and 2011 that were requested by congressional investigators because of hard drive crashes.

The agency said that emails stored on dead drives were lost forever because its email backup tapes were recycled every six months, and employees were responsible for keeping their own long-term archives.

The IRS had a contract with email backup service vendor Sonasoft starting in 2005, according to FedSpending.org, which lists the contract as being for "automatic data processing services." Sonasoft's motto is "email archiving done right," and the company lists the IRS as a customer.

In 2009, Sonasoft even sent out a Tweet advertising its work for the IRS.

Webmaster's Commentary: 

We can post these faster than the NSA can erase them!

Jun 20 08:12

IRS commissioner won't apologize for lost Lerner e-mails

Jun 20 08:08

America : Freedom to Fascism

Webmaster's Commentary: 

Time to share this video with everyone you know!

Jun 20 07:50

Britain to sign yuan clearing deal with China next week

Britain and China will sign an agreement next week to set up the first clearing service for renminbi trading outside Asia, putting London in a prime position to offer yuan trade business in Europe.

Jun 20 07:43

IMF ready to ask ECB to begin quantitative easing

The managing director of the International Monetary Fund is expected to launch an appeal to the European Central Bank on Thursday, urging it to deal with deflationary risks by beginning a form of quantitative easing, the Financial Times newspaper reported.

That would include large purchases of sovereign bonds to stimulate growth, the newspaper said Wednesday, citing a draft of a statement from the IMF based on its annual evaluation of the eurozone’s economic health.

Webmaster's Commentary: 

After all, look how well it worked in the US!

Jun 20 07:40

"De-Dollarization" Continues - China Starts Direct Trade With UK

Following the initial de-dollarization meeting, there has been a slew of anti-dollar moves around the world (including Gazprom's shift of 90% of its clients to non-dollar payments). However, on the heels of the "anti-dollar alliance" discussions yesterday, DW reports that China would start direct trade between the renminbi and the British pound on Thursday. China's Foreign Exchange Trade System (CFETS) confirmed Sterling and yuan would be directly swapped without using the US dollar as an intermediary.

Webmaster's Commentary: 

Right now, it would make sense to both acquire small, untraceable amounts of silver coins, and identify those skills you can barter when the dollar goes under.

And right now, it appears to me that this event will be happening sooner rather than later; leadership in Russia and China understand, very clearly, that the one way to drive the US economy, already reeling, morally and fiscally, from these horrific pre-emptive wars,into oblivion, is to do every bit of trade possible without using the US dollar.

I would almost be willing to bet that we will see this trend escalate around the world, and rapidly.

Jun 20 06:40

U.S DEPARTMENT OF HOMELAND SECURITY HAS TOLD BANKS - IT MAY INSPECT SAFE DEPOSIT BOXES

Webmaster's Commentary: 

Another reason to stop doing business with the banks!

Jun 20 06:29

The End Of Anglo-American Hegemony

As Western dependence on Third World resources has increased, it has become increasingly necessary for the international bankers and their corporations to include local elite cliques in their capital accumulation schemes, making a small group of local people extremely wealthy so that this group will cooperate in selling local resources cheaply to the West.

Jun 19 16:11

Former Goldman Sachs trader upset at $8.25M bonus, files suit seeking $16M more

Poor baby.

A former Goldman Sachs trader angry that he got a bonus of only $8.25 million has gone to court to get the millions of dollars that he says his bosses still owe him.

Webmaster's Commentary: 

I don't know about you but I would be deliriously happy with just $8 million! I could move out of Hawaii to some city with lots of great choirs and singers for Claire to throw music at! I could build Claire a new music studio with a real audio booth!!! I could get my own audio/video streaming server! I could fund the food programs! I could build that ultra-low frequency radio telescope and listen for the AC hum from alien civilizations!!!

Anyone reading this who would NOT be happy with just $8 million?

What is wrong with these money-junkies!

Jun 19 14:20

Ukrainian Conflict Could Lead to Gas Rationing

Michael Rivero: Did the US arm the rebels now rampaging through northern Iraq?

Jun 19 08:59

Argentina says next bond payment 'impossible', default looms

Argentina threatened to default on its debt on Wednesday when the government called it "impossible" to pay bond service due on June 30, citing a U.S. court decision earlier in the day that increased pressure on the economically ailing country.

Buenos Aires is locked in a 12-year legal fight with creditors who refused to participate in two restructurings that followed Argentina's 2002 default on $100 billion in bonds.

Webmaster's Commentary: 

I wonder how many people bought credit default swaps on Argentina's debt?

What Argentina ought to be doing is looking for acts of economic sabotage by US intelligence agencies intended to prevent them from being able to repay their loans, to keep them under control and seize their real assets. This was a very common trick of the US in South America all during the 1970s and 1980s. It would work like this. Loan a country so many millions of dollars to develop their coffee industry, then introduce a parasite that wrecked the coffee plants so the loans could not be repaid, then demand political and economic concessions, and transfer of public assets into private hands.

If Argentina could document just one such incidence of sabotage, then they could declare the whole debt fraudulent.

Jun 19 08:19

Jack Lew: We're committed to supporting Israel's economy

Webmaster's Commentary: 

Wish you felt that way about Detroit!

Jun 19 08:13

Russia can switch to payments with India, China in national currencies crushing dollar amid sanctions - experts

The European economy, experts point out, still remains in the grip of a crisis, while China, for example, is prosperous. The West, including the US, has begun to curtail the profitable relations with Russia on the background of Ukrainian problems, which has nothing to do with the East. And business always develops in the environment of stability and mutual interest. It is reasonable that at present the Russian economy – that is investments, exports, imports and technology – is speeding up its advance in the eastern direction, President of the Centre of Strategic Communications Dmitry Abzalov says. Instead of America and Europe, our target is South-East Asia now.

Jun 19 08:02

Putin Advisor Proposes “Anti-Dollar Alliance” To Halt US Aggression Abroad

It has been a while since both Ukraine, and the ongoing Russian response to western sanctions (which set off the great Eurasian axis in motion, pushing China and Russia close together, and accelerating the “Holy Grail” gas deal between the two countries) have made headlines. It is still not clear just why the western media dropped Ukraine coverage like a hot potato, especially since the civil war in Ukraine’s Donbas continues to rage and claim dozens of casualties on both sides. Perhaps the audience has simply gotten tired of hearing about mixed chess/checkers game between Putin vs Obama, and instead has reverted to reading the propaganda surrounding just as deadly events in the third war of Iraq in as many decades.

Jun 19 06:35

Banks may have to raise new capital

The possibility of the domestic banks having to raise new capital following the ECB stress tests "cannot be precluded" even though AIB, Bank of Ireland and Permanent TSB all passed the Central Bank’s Balance Sheet Assessment (BSA) at the end of 2013, according to the IMF in its latest review of the Irish economy.

Webmaster's Commentary: 

"Well, gee; just look at all that cash sitting in those savings accounts!"

Jun 19 06:33

Iran hangs billionaire over $2.6b bank fraud

A billionaire businessman at the heart of a $2.6 billion state bank scam, the largest fraud case since the country's 1979 Islamic Revolution, was executed Saturday, state television reported.

Authorities put Mahafarid Amir Khosravi, also known as Amir Mansour Aria, to death at Evin prison, just north of the capital, Tehran, the station reported. The report said the execution came after Iran's Supreme Court upheld his death sentence.

Webmaster's Commentary: 

Iran knows how to deal with crooked money-junkies!

Jun 18 13:06

Detroit employees to see cuts in paychecks under new pension plan

City employees will see deductions in their paychecks beginning next month as Detroit moves to implement a new hybrid pension plan, the emergency manager’s office said Wednesday.

Jun 18 12:31

On Obamacare Sebelius Spreads The Blame Around

Former HHS secretary Kathleen Sebelius spoke to an Obamacare group and spread the blame around for the law’s many failures. Oddly enough, she didn’t assign any of the blame to those who wrote the law, signed the law, or implemented the law.

Jun 18 11:48

Income Gap Widens As American Factories Shut Down

In August 2008, factory workers David and Barbara Ludwig treated themselves to new cars – David a Dodge pickup, Barbara a sporty Mazda 3. With David making $22 an hour and Barbara $19, they could easily afford the payments.

A month later, Baldwin Hardware, a unit of Stanley Black & Decker Corp., announced layoffs at the Reading plant where they both worked. David was unemployed for 20 months before finding a janitor job that paid $10 an hour, less than half his previous wage. Barbara hung on, but she, too, lost her shipping-dock job of 26 years as Black & Decker shifted production to Mexico. Now she cleans houses for $10 an hour while looking for something permanent.

They still have the cars. The other trappings of their middle-class lifestyle? In the rear-view mirror.

Jun 18 10:12

Kicking Against the Establishment: It’s Time for Truth in Media

Rhetoric coming out of Washington is constantly using and abusing the term “democracy” as a concept to be defended and cheered. But what we see in the US is a far-cry from any real and accountable system of democracy.

In fact, the United States of America couldn’t be farther from being “the land of milk and honey” as it once proclaimed itself to be; its promise of wealth and stability, the oft-referenced yet seldom seen “American dream”, is undeniably buried in the realm of wishful thinking — for the majority of people, that is.

Elections give the illusion of choice while maintaining a status quo that sees the rich get richer and the poor scrambling to redefine their definitions of “rock bottom”.

Jun 18 09:41

For third straight month, China cuts US debt holdings

China cut its holdings of United States government debt in April for the third straight month, which may reflect a continuing move from US assets, according to an analyst.

China, the largest foreign holder of US Treasuries, held $1.26 trillion in US debt as of April, down $8.9 billion from the previous month and below the $1.27 trillion mark for the first time since August 2013, the US Treasury Department said Monday in a monthly report. China's holdings hit a high of $1.317 trillion in November.

Kent Troutman, a research analyst at the Washington-based Peterson Institute for International Economics (PIIE), said the decreases each month could be due to benign shifts in the portfolio.

Webmaster's Commentary: 

"...due to benign shifts in the portfolio.", MY ASTROLABE!!

The Chinese government is many things, but foolish about the way the US economy is headed, is not one of them.

They are headed out of the US treasury note market, because these notes are only worthless pieces of paper at this time, but they are doing it gently and gradually, so as not to harm their own economy, which has horizontally invested in American businesses over the years, like last year's purchase of Smithfield Foods by Shuanghui International Holdings Ltd.

Jun 18 09:19

Chrysler Ignition Switches Are Investigated

Concern over the safety of ignition switches in vehicles is spreading beyond General Motors.

The National Highway Traffic Safety Administration is investigating about 1.2 million Chrysler minivans and sport utility vehicles over a concern that jostling the ignition key could accidentally turn off the engine and disable the air bags.

Webmaster's Commentary: 

Has the USA declined so far we can't make a reliable ignition switch any more?

Jun 18 08:31

Ex-Goldman director goes to prison, still owes $13.9 million fine

Former Goldman Sachs Group Inc (GS.N) director Rajat Gupta on Tuesday began serving his two-year prison term for insider trading, and lost his challenge to a $13.9 million civil penalty and permanent ban from acting as a public company officer.

Gupta, 65, reported to FMC Devens, a medical facility and satellite camp in Ayer, Massachusetts about 40 miles (64 km) northwest of Boston, a spokesman for the Federal Bureau of Prisons said.

Webmaster's Commentary: 

The selected sacrificial lamb gets thrown to the wolves to save the real criminals at the top!

Jun 18 08:29

GM hit with $10 billion lawsuit saying recalls damaged brand

According to a complaint filed on Wednesday with the federal court in Riverside, California, GM hurt customers by concealing known defects and valuing cost-cutting over safety, leading to roughly 40 recalls covering more than 20 million vehicles this year alone.

It said this has caused a variety of late-model vehicles to lose roughly $500 to $2,600 in resale value.

Hagens Berman Sobol Shapiro, which filed the lawsuit, said the case could be worth more than $10 billion, and is the first seeking to force GM to pay a potential 15 million car and truck owners, not just those whose vehicles were recalled, for damage to its brand and reputation.

Jun 18 07:36

We Are So Not Prepared For Another Oil Shock

With the Middle East now lurching towards yet another major war, it’s easy to envision a supply disruption that sends oil back to its previous high or beyond. So the question becomes, what would that do to today’s hyper-leveraged global economy? Bad things, obviously. But before looking at them, let’s all get onto the same page with a quick explanation of why everyone seems so mad at everyone else over there:

The story begins in 570 A.D. in what is now Saudi Arabia, with the birth of a boy named Muhammad into a family of successful merchants. After having some adventures and marrying a rich widow, around the age of 40 he begins having visions and hearing voices which lead him to write a holy book called the Qur’an. More adventures follow, eventually producing a religious/political system called Islam that comes to dominate a large part of the local world.

Webmaster's Commentary: 

Not unlike the Roman Catholic Church, which hunted down and exterminated the living descendants of the historical Jesus who claimed control of Christianity, to protect their "Apostolic descent", i.e. Popes chosen by consensus of the Cardinals.

Jun 18 07:29

Facing Extinction, Hedge Funds Go All In: Take Net Assets To All Time High, Cash To Record Low

Several years ago we said that in the New centrally-planned normal, in which the Fed chairmanwoman is the Chief Risk Officer of the s0-called market, and where no selloffs are allowed because any major drop in a market artificially supported by trillions in artificial liquidity, would probably be its last (as it would crush the "credibility" of all-in central banks) that old "smartest money" concept, the 2 and 20 hedge fund, has become an anachronistic relic of the past (especially once Stevie Cohen ruined the game for everyone and took legal insider trading aka "expert network" out of the picture and forced hedge funds to make money the old fashioned way - legally).

Jun 18 07:28

The Next Obama Debt Bomb About To Implode

A 517% increase in student debt in the last five years. Can there be any doubt this shocking imbalance in the cost of college education was not planned? Read on to learn of the stunning, and insidious numbers that reflect yet another war on America orchestrated by an administration determined to push the entire nation over the brink…

Webmaster's Commentary: 

The Federal Reserve system is a pyramid structure. Because all currency is loaned into circulation at interest, the system creates more debt than money with which to pay that debt.

The only way to keep the system solvent is to constantly find new borrowers which allows the creation of new money, part of which is then used to pay the interest on the old money. But the total aggregate debt will continue to outgrow the total available money supply.

We have reached a point where the bankers and the government are trying to find new ways to force people deeper into debt to keep the Ponzi scheme going, and the college students have become the latest victims of this scam, brought into debt-slavery by cutting off financial support for higher education and raising the cost of college much higher than can be explained by the rate of inflation. This forces the kids into debt to get their diplomas.

The problem is that we have reached a stage where people are being forced to borrow money, and loans handed out willy-nilly, without any regard for whether those loans can actually be paid back. Sooner or later, the rates of defaults on all these imposed loans will overtake the creation of new money from new loans and the pyramid will collapse, as all pyramids have done throughout history.

Jun 18 06:21

Jack-in-the-Box Moves to Accept Food Stamps in Central Texas

On the heels of immigration crisis, company envisions huge potential market to be tapped..

Webmaster's Commentary: 

Sent in by a Texas Reader.

Jun 17 13:17

Wealthy Clintons Use Residence Trusts to Limit Estate Tax They Back

Bill and Hillary Clinton have long supported an estate tax to prevent the U.S. from being dominated by inherited wealth. That doesn’t mean they want to pay it.

To reduce the tax pinch, the Clintons are using financial planning strategies befitting the top 1 percent of U.S. households in wealth. These moves, common among multimillionaires, will help shield some of their estate from the tax that now tops out at 40 percent of assets upon death.

Jun 17 13:11

Detroit retirees denounce plan to raid city workers’ savings accounts

In addition to deep cuts in pensions and health care benefits, nearly 5,000 retired Detroit city workers will be forced to pay back tens of thousands of dollars in earnings from their retirement savings accounts, according to the city’s bankruptcy restructuring plan.

Jun 17 10:17

Risk of new Argentinian debt default after vulture fund verdict

President Cristina Fernandez says Argentina can’t possibly comply with U.S. court orders to pay $1.5 billion in cash to winners of a decade-long debt dispute, the position her country was left in Monday when the U.S. Supreme Court refused to hear her government’s final appeal.

Delivering a nationally broadcast address Monday night, Fernandez expressed willingness to negotiate, but said there is simply no way that Argentina can pay in cash, in full, starting just two weeks from now, which is what the U.S. courts have ordered.

“What I cannot do as president is submit the country to such extortion,” Fernandez said.

Under the U.S. court orders, Argentina must hand over $907 million to the plaintiffs, or lose the ability to use the U.S. financial system to pay an equal amount due June 30 to holders of other Argentine bonds.

Webmaster's Commentary: 

This decision may well plunge the Argentinian economy into complete chaos.

Jun 17 10:02

Federal Reserve Wants to Charge You for Pulling Your Money Out of Bond Funds

A new reason has just emerged to get out of bond funds fast.

The Financial Times is reporting that:

Federal Reserve officials have discussed whether regulators should impose exit fees on bond funds to avert a potential run by investors, underlining concern about the vulnerability of the $10tn corporate bond market.

Officials are concerned that bond funds are becoming “shadow banks”, because investors can withdraw their money on demand, even though the assets held by the funds can be hard to sell in a crisis. The Fed discussions have taken place at a senior level but have not yet developed into formal policy, according to people familiar with the matter...Exit fees would seek to discourage retail investors from withdrawing funds, thereby making their claims less liquid and making a fire sale of the assets more unlikely.

Jun 17 08:50

Price Index for Meat, Poultry, Fish & Eggs Rockets to All-Time High

The price index for meats, poultry, fish, and eggs hit an all-time high in May, according to data from the Bureau of Labor Statistics (BLS).

In January 1967, when the BLS started tracking this measure, the index for meats, poultry, fish, and eggs was 38.1.

In May 2014, the index for meats, poultry, fish, and eggs was 252.832, the highest it has ever been.

Jun 17 07:04

Size of income tax drop surprises U.S. states: study

Most U.S. states were surprised by the size of the drop in their personal income tax collections this April, even though they had expected a decline, according to a report released by the Rockefeller Institute of Government on Thursday.

Webmaster's Commentary: 

That is because the state governments are relying on the official US Government reports on employment to forecast their tax revenues, but those official US Government numbers are as phony as Saddam's nuclear weapons, so the state keep coming up short.

Jun 17 06:22

Fed Prepares For Bond-Fund Runs, Looking At Imposing "Exit Fee" Gates

It was two short years ago that the Fed, in its relentless attempt to push everyone into the biggest equity bubble of all time, did something many thought was merely a backdoor ploy to forcibly reallocate capital out of the $2.7 trillion money market industry and into stocks when, as we wrote in July 2012, it contemplated imposing suspensions of fund redemptions to "allow for the orderly liquidation of funds assets." Or in other words "gate" money markets.

Jun 17 05:51

Argentina: Won’t submit to U.S. ‘extortion’ on debt

Argentina's president is refusing to go along with a U.S. judge's ruling requiring a $1.5 billion repayment of defaulted bonds, even though the U.S. Supreme Court rejected her government's appeals and left the order in place.

In a national address Monday night, Cristina Fernandez repeatedly vowed not to submit to "extortion," and said she had working on ways to keep Argentina's commitments to other creditors despite the threat of losing use of the U.S. financial system.

Jun 16 11:47

Violence in Iraq Means Profits for Beechcraft, Lockheed, Raytheon and other Weapons Makers

U.S. companies are reaping big benefits from the Iraqi government’s battle with ISIS militias. Three sales, including some big-ticket items, announced last month will put nearly $1 billion in the pockets of American defense contractors if Congress approves the sales.

Beechcraft Defense Co. and eight other contractors are selling 24 AT-6C Texan II aircraft, plus spares and other equipment to Iraq. That deal is worth about $790 million. The plane is used for “light attack and intelligence, surveillance and reconnaissance.”
AM General has a deal to send 200 of its venerable Humvees to help guard oil installations. The contract, which includes spares and equipment such as radios and machine gun mounts, is worth $101 million.
Raytheon has a $90-million deal for seven aerostats along with 14 Rapid Aerostat Initial Deployment (RAID) Tower systems to be used for command and control by the Iraqi military.

Jun 16 10:08

Donetsk Republic takes under control national bank branch

“We have taken them under control as money collected on the territory of the people’s republic, including through the tax inspection, went to Kiev,” a spokeperson says

Jun 16 07:21

“Cluster Of Central Banks” Have Secretly Invested $29 Trillion In The Market

Another conspiracy “theory” becomes conspiracy “fact” as The FT reports “a cluster of central banking investors has become major players on world equity markets.” The report, to be published this week by the Official Monetary and Financial Institutions Forum (OMFIF), confirms $29.1tn in market investments, held by 400 public sector institutions in 162 countries, which “could potentially contribute to overheated asset prices.” China’s State Administration of Foreign Exchange has become “the world’s largest public sector holder of equities”, according to officials, and we suspect the Fed is close behind (courtesy of more levered positions at Citadel), as the world’s banks try to diversify themselves and “counters the monopoly power of the dollar.” Which leaves us wondering where are the central bank 13Fs?

Jun 15 08:28

Walgreens' Planned Move From Illinois to Switzerland Would Save $4 Billion in Taxes

Walgreens could cost taxpayers $4 billion in lost revenue over five years should the company decide to renounce its American corporate legal status and move its official address to Switzerland, a tax haven. The company is widely reported to be considering this move and says it will announce its intentions as soon as this summer. Walgreens is the nation’s largest pharmacy retailer with 8,200 stores and locations in all 50 states.

Jun 15 07:19

EU presidential hopeful blind drunk on Europhilia?

The European Parliament is having a hissy fit about the new president of the European Commission. That job is currently held by Jose Manuel Barroso, the one-time Maoist who had a brief stint as Portuguese prime minister, delivering precisely none of the reforms the nation needed before its spectacular economic failure required a bailout. However, by that stage Barroso was one of the presidential crew on a handy US$30,000 per month. Provided he never says a bad word against the EU so long as he lives, he stands to get a rich pension too. Not bad for a career overseeing failure.

Jun 14 13:40

New York Times Says "Lack Of Major Wars May Be Hurting Economic Growth"

It is no secret that as the Fed's centrally-planned New Normal has unfolded, one after another central-planner and virtually all economists, have been caught wrong-footed with their constant predictions of an "imminent" economic surge, any minute now, and always just around the corner. And yet, nearly six years after Lehman, five years after the end of the last "recession" (even as the depression for most rages on), America is about to have its worst quarter in decades (excluding the great financial crisis), with a -2% collapse in GDP, which has been blamed on... the weather.

Jun 14 07:21

The roots of Eric Cantor’s defeat

The charge might surprise some on Capitol Hill, who view Speaker John Boehner, R-Ohio, as far more eager to negotiate with the enemy than his No. 2. Yet many on the right, in Washington and the Old Dominion, also see Cantor as a squish — a supporter of immigration reform who voted to raise the federal debt ceiling in 2011 and pass the TARP bank bailout in 2008, the measure that helped spark the entire tea party movement.

Webmaster's Commentary: 

FOX News is reporting that Cantor's defeat will revive the debate over raising the debt ceiling for the Federal Government. This IS an issue all Americans need to pay attention to as we head into the November elections. But all Americans need to understand that the visible debate is a smokescreen for the real question every American needs to be asking right now.

Please share the above graphic with your social media networks.

Jun 13 13:45

The Baltic Dry Index Is Having Its Worst Year Ever

At 906, the Baltic Dry Index slumped to 12-month lows showing absolutely no signs whatsoever of the Q2 renaissance in global growth that has been heralded by all the highly-paid meteoroconomists.

Jun 13 11:30

GM Flunks Derek Zoolander School For Bailed Out Companies Who Can't Build Cars Good, Recalls All New Camaros

Another week, another massive GM recall, this time the bailed out company, which clearly is unable to build cars on the "first" attempt, announcing moments ago that it is recalling all current generation Chevvy Camaros "because a driver’s knee can bump the key FOB and cause the key to inadvertently move out of the “run” position, with a corresponding reduction or loss of power."

Jun 13 11:29

UMich Consumer Confidence Drops (Again); Misses By Most In 18 Months

Following last month's drop and disappointing miss, University of Michigan Consumer Confidence just got even worse. Despite record high stock prices and near record high car purcahsing exuberance, consumer confidence tumbled for the 2nd month in a row (just when the pent-up demand of Q1 is supposed to kick in). This is the biggest miss of expectations since Dec 2012 and appears to confirm the lack of exuberance seen in the government's survey data.

Jun 13 09:27

BITCOIN COMES TO ISRAEL

Israel was in a state of panic when the concept of Bitcoin was introduced …. How would they continue to receive the BILLION$ of Dollars they get annually from the US Taxpayer….

Those fears were alleviated this week when Bitcoin was activated here.

Jun 13 09:18

Sorry, You're Not Allowed: Capital Segregation and Rising Inequality

Once the gains have been reaped, all that's left for the majority are toxic risk and losses.

The New Nobility don't swim in that carefully limited pool: they control the distribution of food pellets (gain and yield in our analogy) to the masses thrashing about in the main tank. Regardless of who wins and loses the struggle for the few pellets tossed in the tank, the few who control the pellets profit.

The majority swimming fruitlessly around the barren main tank are unaware of the tanks and wild river beyond. Special tanks--dark pools and similar reserved havens for the wealthy--are off-limits to the middle class in the main tank. In these "New Nobility only" pools, risk is low and gains are plentiful.

Jun 13 09:13

Are the Police Becoming a Domestic Military?

What do you get when you combine post-war military surplus equipment with US domestic law enforcement agencies?

I don’t know. And I’m not sure I want to.

The sheer volume of equipment coming into the country (see the wave-making New York Times article “War Gear Flows to Police Departments”) makes it look like we’re building another branch of the military—but what for? Different people have different answers, but they’ve all got one thing in common: Fear.

The rise in mass shootings has some members of the law enforcement community calling the escalation an exercise in preparedness. Some cite the threat of domestic terrorism, invoking the specter of the Boston Marathon bombings as proof enough. Other responses are simply brain-searing, like this one from the Morgan County Sherriff’s department, featured in the New York Times:

“In the Indianapolis suburbs, officers said they needed a mine-resistant vehicle to protect against a possible attack by veterans returning from war.”

Webmaster's Commentary: 

There has been a war against the American people - and American families - for quite some time now. This hyper-militarization of the police is a final phase in the process.

The US government is expecting unrest, both from the poorest segments of our communities, when food and money run out, and other individuals who have simply had enough of miserably ill-conceived foreign and domestic policies.

Please, no matter how much you get ticked off, do not indulge in violence: that is precisely the battle the government is prepared to put down, and mercilessly, in a homicidal rage.

Just please, be prepared. Have long-term storable food and water; extra meds for your family and your pets; have a plan, in case you need to bug out, in terms of how to reconnect with family and friends; keep no more money in your bank account than you absolutely need to pay your bills; and make sure you have some gold and silver, purchased in small, untraceable amounts. Learn which of your neighbors can be counted upon to work with you, and barter with you, if times get very rough.

Jun 13 07:12

A Disappeared Book on Wall Street History Provides a Dead Serious Warning

In 2011, Darcy Flynn, an SEC lawyer, told Congressional investigators and the SEC Inspector General that for at least 18 years, the SEC had been shredding documents and emails related to its investigations — documents that it was required under law to keep. Flynn explained to investigators that by purging these files, it impaired the SEC’s ability to see the connections between related frauds on Wall Street.

In 2010, we reported at CounterPunch that not only was it next to impossible to find on line the original text of the historic Glass-Steagall Act which had protected the U.S. economy from the ravages of Wall Street’s recklessness for seven decades until its repeal in 1999, but the National Archives wanted to charge me $1505 to obtain a copy of this public legislation. After much sleuthing, we obtained a copy from the St. Louis Fed and made it available to the Internet Archive which has kindly kept it alive on its web site.

Jun 13 07:07

Happy Friday the 13th! Knights Templars sue the Pope

The heirs of the Knights Templar have launched a legal battle in Spain against the Pope to salvage the reputation of the order accused of heresy and dissolved 701 years ago.

Members of the Association of the Sovereign Order of the Temple of Christ claim that when the order was dissolved by Clement V in 1307 more than 9000 properties and commercial ventures belonging to the knights (worth $168 billion) were appropriated by the church.

Webmaster's Commentary: 

How do I get in on this!

Jun 13 06:27

'Worst in years': France hit by nationwide train strike (PHOTOS)

French trade unions are to extend their nationwide rail strike – which has caused the worse disruption to the country in several years – to Friday. Half of all train journeys across France have been canceled.

Jun 12 15:15

NY Times: President Obama Should Unilaterally Raise the Tax Rate on Carried Interest Earned by Hedge Fund Managers

President Obama could change the tax treatment of carried interest with a phone call to the Treasury Department. But the White House will need a precise understanding of the regulatory landscape to make a change that is fair, easy to administer, and will hold up in court.

The administration has increasingly relied on executive branch rule-making authority to make policy without waiting for a gridlocked Congress to act. The White House has made significant changes to education policy, immigration policy, environmental standards and climate change policy, and, most recently, student loans. And it has the legal authority to unilaterally change the tax treatment of carried interest. ...

Jun 12 06:12

Something like meat but not meat

It’s just capitalism at work. Again. It’s just one heavily toxic megacorp buying up another toxic megacorp and all of it making a perverse sort of sense, given how Tyson Foods is one of the largest (and scariest) industrial meat purveyors in the land, and its new, $8 billion acquisition, Hillshire Brands, makes some of the weirdest and most fat- and preservative-encrusted “handheld” (it’s a category) meat-like products in the universe (Jimmy Dean, Sara Lee, Ballpark Franks, et al) – the kinds of products that, shortly after you eat them, cause your vision to wobble, your heart to seize and random extremities to lose sensation for a few hours. You know, just for fun.

Jun 11 21:09

Analyst declares RadioShack stock worthless, saying a turnaround is ‘nearly impossible’June 11, 2014, 3:25 PM ET

RadioShack Corp.’s mounting losses amid declining sales have been widely covered in the media. The company’s misfortune has also inspired Wall Street analysts to slash their target price on the stock, with a range this year of $1 to $3 a share.

However, that changed on Wednesday after B Riley analyst Scott Tilghman, who already rates the stock RSH a sell, lowered his price target to zero from $1 a share after the company on Tuesday reported another in a series of wider-than-expected losses. The company’s cash level also plunged. Chief Financial Officer John Feray said Tuesday the company has enough liquidity to execute its turnaround over the next 12 months, and that it’s examining expenses from utility bills to ocean freight.

Webmaster's Commentary: 

Radio Shack is where I used to go for parts and supplies to build things. That was their strength. But they dropped support for electronics hobbyists and went with the same consumer-level products everyone else is selling, and are now paying the price for forgetting what their original success was based on.

Jun 11 11:48

Banker pleads guilty to spending $220,000 at strip clubs

A former executive at TD Bank in Maine has pleaded guilty to using a corporate credit card to spend nearly $220,000 at strip clubs in just one year.

Jun 11 09:30

Russian bank chiefs take aim at US dollar

Russian companies will make bypassing the U.S. dollar in international transactions a top priority, the heads of three Russian banks said this week, in the latest sign that Russia is turning its back on the West and moving toward Asia.

Webmaster's Commentary: 

Last night Claire and I watched "Jack Ryan: Shadow Recruit." Sold using the character names from Tom Clancy's novels, this was a thinly disguised piece of gratuitous Russia bashing with a story line about a Russian attempt to undermine the US economy. When we saw that, both Claire and I burst out laughing at the obviousness of it all.

To be clear; the problems with the US dollar were created by a privately-owned central bank issuing all of the public currency as a loan at interest, then creating more dollars out of thin air trying to stay ahead of the impossible-to-pay debt that piled up. They were aided and abetted by a federal government that 100 years ago sold the nation back into the slavery of the very same predatory banking system we fought a revolution to be free of, then looked the other way as the debt-crippled financial system descended into outright fraud and criminality to perpetuate itself.

Now the entire US/FED system is on the verge of collapse, and the money-junkies are desperate to pin the blame on someone else to save themselves from the righteous wrath of the people whose lives have been plundered.

Jun 11 09:20

Cafeteria Worker Throws Out Student's Lunch Because He's 26 Cents Short

A father is blasting his young son's school after a cafeteria worker at Kent, Washington's Mill Creek Middle School threw away the kid's lunch because he was 26 cents short.

"He gets up to the front and they say there's not enough in his account, so they take his food, and in front of him, throw it away," Jimmie Keys, the boy's father, told Komo News.

Jun 11 08:54

Indiana GOP candidate: ‘No one has the guts’ to let poor people ‘wither and die’

A northwest Indiana Republican has backtracked on outrageous comments he made on Facebook about poor people.

John Johnston, who is challenging Democratic state Rep. Chuck Moseley for the 10th District seat, said during a social media discussion on poverty that “no one has the guts to just let them wither and die.”

“The voters are the ones in charge,” Johnston said. “(H)owever when only 10-11 percent show up to vote, not much will change. People simply are not hurting enough, or simply happy enough that they will do nothing. consequently the dole continues.”

However, Johnston told the newspaper he didn’t advocate the end to programs such as welfare or food stamps.

“My main point is that the programs are used as political tools,” Johnston said. “Sometimes it hurts, but you might give them less to motivate someone to get a job.”

Webmaster's Commentary: 

No, Mr. Johnson, given the current state of the American body politic, the voters are absolutely NOT in charge; it is the major corporations which fund election cycles which are in charge.

By the time elections happen at the state or national level, all candidates have been thoroughly vetted by the major corporations, to make sure that they will deliver legislation which is favorable to them, first and foremost.

And as to those people on welfare who should "get a job", just what jobs are available for them, when college graduates are now earning minimum wage at discount big box stores, because the decently paying jobs have been offshored/outsourced, courtesy of those major corporations which fund election cycles?!?

Mr. Johnson, I am waiting for an intelligent answer on this, sir!!

Jun 11 08:32

Repudiate the Public Debt? How About Corporate Personhood and Monopoly Central Banking?

he French are right: tear up public debt – most of it is illegitimate anyway ... As history has shown, France is capable of the best and the worst, and often in short periods of time. On the day following Marine Le Pen's Front National victory in the European elections, however, France made a decisive contribution to the reinvention of a radical politics for the 21st century. On that day, the committee for a citizen's audit on the public debt issued a 30-page report on French public debt, its origins and evolution in the past decades. The report was written by a group of experts in public finances under the coordination of Michel Husson, one of France's finest critical economists. Its conclusion is straightforward: 60% of French public debt is illegitimate. – UK Guardian

Jun 11 08:10

19 Reasons Why You Can Laugh When Anyone Tells You That The Economy Is In Good Shape

Have you heard the one about the “economic recovery” in the United States? It’s quite funny, but it is not actually true. Every day, the establishment media points to the fact that global stock markets have soared to unprecedented heights as evidence that the economy is improving. But just because a bunch of wealthy people have gotten temporarily even richer on paper does not mean that the real economy is in good shape. In fact, as you will see below, things just continue to get even tougher for the poor and the middle class. Retail stores are closing at the fastest pace since the fall of Lehman Brothers, the rate of homeownership in this country is the lowest that it has been in 19 years, one out of every five families do not have a single member that is employed, and one out of every five children is living in poverty. We are working harder, earning less and going into more debt.

Webmaster's Commentary: 

These numbers are absolutely staggering, and bode ill for any kind of true economic recovery here in the US at any time soon.

Jun 11 07:42

Temporarily embarrassed millionaire Americans go back into credit card debt: Credit card debt begins to tick up as tapped out Americans re-leverage once again. Average household has $7,000 in credit card debt.

It is hard to believe that a large part of the nation has already forgotten the Great Recession. A crisis created by too much debt and the financialization of global markets is now once again unleashing high levels of debt to keep consumption going. This makes sense given that 1 out of 4 working Americans is actually in a job that pays less than $10 per hour. Instead of confronting the storm clouds of low wage economics, banks after getting their bailout fill are now handing out credit cards to induce Americans to spend money that they really don’t have. There is a very reasonable place for debt in any economy. It becomes dangerous when we constantly rely on debt versus real economic growth to move forward. Credit card debt contracted severely during the Great Recession. Most of this came at the hands of bankruptcies. With the memories of the Great Recession fading away in this fast paced instant media culture, we are seeing credit card borrowing picking up.

Jun 11 06:28

Walmart, Costco tied to slave labor in shrimp industry

The world’s largest shrimp farmer gets fishmeal used to feed its crop from supplier that use slave labor, according to a new investigative report. It then sells its farm-raised shrimp to food retail giants, including Walmart and Costco in the US.

Jun 10 14:17

Can banks create money out of thin air?

• This article explains how the majority of money in the modern economy is created by commercial banks making loans.

• Money creation in practice differs from some popular conceptions — banks do not act simply as intermediaries, lending out deposits that savers place with them, and nor do they “multiply up” central bank money to create new loans and deposits.

• The amount of money created in the economy ultimately depends on the monetary policy of the central bank. In normal times, this is carried out by setting interest rates. The central bank can also affect the amount of money directly through purchasing assets or “quantitative easing”.

The authors of the Bank of England report remind us that, these days, most settlement of financial transactions involves changing the amounts in personal deposit accounts held in banks. Against popular belief, and textbook economics, these deposits definitely do not fund bank lending.

Jun 10 12:45

One Year Later, NSA Scandal Has Cost Tech Companies Billions

Executives from leading companies such as Netflix, Google and Facebook met with senior White House officials in December, and in March. The Obama administration made it look like these meetings had helped to resolve issues on intelligence reforms. However, venture capitalist Marc Andreessen argued that the meetings were “mostly for show and have produced not even a little progress on privacy and surveillance issues.”

Jun 10 10:22

Gold At A Turning Point After ECB’s Unprecedented Action - CMC Markets

The European Central Bank’s unprecedented monetary policy announcement last week could be the turning point the gold market needs to generate long-term momentum, said a market analyst.

Colin Cieszynski, market analyst at CMC Markets, said in a research report released Tuesday that in the last few months he has noticed gold’s primary influence has shifted to the euro from the U.S. dollar.

He said one major factor behind gold’s lackluster performance is European banks’ repayment of the central bank’s loans from its first Long-Term Refinancing Operation during the last 18 months. This repayment process allowed the ECB to embark on “stealth tapering,” as it reduced its balance sheet by about a trillion euros, he said.

During the same time period, the Federal Reserve embarked on its third round of quantitative easing program.

Jun 10 10:08

No Drinking Water In Venezuela Until Bankers Get Paid Back

2013 was a good year for Goldman Sachs investments in Emerging Markets, most notably Venezuelan bonds (as they bet on socialism and won). A year later and Goldman's EM debt portfolio is still loaded with Venezuelan bonds... and the arrears are mounting. As Bloomberg reports, at a time when Venezuela’s record $25 billion in arrears to importers has its citizens waiting hours in line to buy drinking water and crossing borders in search of medicine, President Nicolas Maduro is using the nation’s dwindling supply of dollars to enrich bondholders.

By putting off the local companies responsible for supplying everything from diapers to cancer medications, Maduro can preserve access to debt markets and protect oil shipments that would be vulnerable to bondholder seizure, said Alejandro Arreaza, an analyst at Barclays. Even if that means fanning the world’s fastest inflation and inflaming protests over shortages that have left at least 42 people dead since February.

Webmaster's Commentary: 

Absoflippinglutely unbelievable!!

Jun 10 09:14

3 Major U.S. Airlines Fight to Cancel Cheaper International Travel

A measure aimed at grounding an upstart airline offering affordable fares for transcontinental travel appears headed for a vote in the House of Representatives.

The transportation appropriations bill is seen as a vehicle for an amendment targeting Norwegian Air International’s new service at U.S. airports, airline officials were told by consultants.

Norwegian Air International, headquartered in Ireland, says it is offering economical fares and improved customer service for international travelers and providing new job opportunities in the United States. But union leaders, who have leaned on the U.S. Department of Transportation to deny Norwegian’s application for low-fare international services, claim the competing airline has engaged in unfair labor practices.

Jun 10 07:08

Wall Street Journal editor: Don’t hike minimum wage because workers ‘learn’ from poverty

Wall Street Journal Editor Paul Gigot argued on Sunday that the minimum wage should be kept low because it would teach workers that they did not want to work low-wage jobs.

Webmaster's Commentary: 

Dear Moron

We The People don't need to be taught that we do not want low-wage jobs. We already are smart enough to know we want the higher-paying jobs ... which have been shipped to other countries by your fellow Wall Street money-junkies!

The only thing poverty teaches is how to build guillotines!

Jun 10 07:06

The Biggest Policy Mistake of the Great Recession

The popular conception of the Great Recession explains that it stemmed from a financial shock. Housing prices stopped going up, and then Lehman Brothers fell, triggering paralysis in the credit markets. This spilled onto Main Street, and the effects still linger in terms of elevated unemployment and sluggish economic growth.

Jun 09 12:17

World Leaders In Discussion For New Reserve Currency

China and Russia have made it quite clear in recent years that they are disgruntled with the way the United States has been abusing their “world reserve currency” privilege.

This privilege has enabled the U.S. to expand its military presence like no other country previously seen in history.

It has enabled the U.S. to print seemingly unlimited amounts of fiat in its futile attempt to keep bubble after bubble inflated, while big banks profit and the man on the street suffers.

Jun 09 10:44

Grand Geopolitical Project: Russia’s Gazprom signs Agreement to Abandon the Dollar

“It’s only the tip of the iceberg. A grand geopolitical project is beginning to materialize…”

On June 6 2014, the official Russian news agency Itar Tass announced what many were expecting since at least the beginning of the Ukrainian crisis: Russian main energy company, Gazprom Neft has finally “signed agreements with its consumers” to switch from Dollars to Euros (as transition to the ruble) “for payments under contracts”.

The announcement that the agreement has been actually signed and not just discussed was made by Gazprom’s Chief Executive Officer, Alexander Dyukov.

Jun 09 09:21

Public Exposed To “The Gold Conspiracy” In Ways Never Before Seen

Gold manipulation, the once laughed at topic is going mainstream.

We have discussed this in depth over the past few weeks, as the tipping point appears to have been reached.

Webmaster's Commentary: 

See The History Channel's "The Gold Conspiracy."

Jun 09 09:10

Secret European Cash Limits in Place

Some of you might remember the recent scandal where #HSBC tried to impose cash withdraw limits on their accounts:

Well it turns out that was just a trial balloon, to see how the public might react to withdraw limits being public knowledge. Limits that are already in place!

Let me tell you what my sources are telling me.

Webmaster's Commentary: 

When the ECB announced their negative interest rates, I predicted there would have to be some form of capital controls to prevent people from emptying their accounts.

Jun 09 09:09

‘Anti-homeless spikes’ outside London flats spark outrage on Twitter

Metal spikes many believe have been installed to deter homeless people from sleeping in an alcove outside a block of flats in London have sparked outrage on Twitter, after pictures of the building went viral.

Andrew Horton, 33, of Woking, Surrey, took a picture of the studs outside of the block of privately-owned flats on Southwark Bridge Road in the borough of Southwark as he walked to work on Wednesday.

Mr Horton told The Telegraph he believed the studs have been put in place to prevent homeless people from sleeping there.

“I can’t say for certain but it certainly looked like they were placed there to deter homeless people. It’s dreadful.”

Jun 09 08:43

Houston, We Have A Problem – or – Market Extremes Are Back

The S&P 500 Index hit another all-time high. All hail QE! This is great news for the 1% but did it help the lower 90% of the population?

Jun 09 08:43

Russian companies ‘de-dollarize’ and switch to yuan, other Asian currencies

Russia will start settling more contracts in Asian currencies, especially the yuan, in order to lessen its dependence on the dollar market, and because of Western-led sanctions that could freeze funds at any moment.

Webmaster's Commentary: 

Good reason for Americans to start dumping the dollar and conducting commerce with something else!

Jun 09 08:38

I Owe My Soul

Let's put the song aside for the moment and have a look at a concept that has been bandied about by the European Central Bank (ECB) for a while now. Since the collapse of the central banks would doom the world (their claim, not mine), it is essential that the banks be saved no matter what else must be sacrificed. Efforts to "save" the situation have been implemented through quantitative easing (QE) and the setting and continuation of low interest rates.

Unfortunately, in spite of record profits by banks and staggering bonuses handed out to senior bank executives, somehow the QE and low interest rates have not created the prosperity desired. The economy is still in the tank. What to do?

A solution being considered is to create "negative interest rates." Sounds logical, doesn't it? If low interest rates have kept the economy from crashing but haven't fixed it, surely, negative interest rates can only be more positive.

Jun 09 07:27

A parallel Chinese financial order

I have commented before about China's dissatisfaction with the global monetary system. China is not an obstructive power. It is, in its way, a committed member of the current economic order. It has strong support at the UN. But it is hedging too, working assiduously to create alternative financial systems to the established ones.

Jun 08 09:13

BOYCOTTING THE BOYCOTTERS

Blacklisted by the `Jewish Community’ over Israel, the Shondes Take their Stand

Jun 08 05:58

New head of European conservatives dismisses Cameron's EU demands

The new head of the biggest group of conservatives in the European Parliament dismissed on Saturday demands by British Prime Minister David Cameron to put the brakes on European integration.

Manfred Weber, the new chairman of the European People's Party (EPP), also told a German paper that the group still backed its candidate Jean-Claude Juncker to be the next Commission president despite opposition from Britain.

Jun 08 05:57

Martin Rowson on D-day and the European Union - cartoon