ECONOMY

Nov 28 08:11

Big Banks: What Happens When Customers Cease to Believe?

To try to understand the current controversy over bank supervision is quite impossible if one insists on treating it as a domestic issue. All central bank policies these days are apparently coordinated by the Bank for International Settlements (and London as well) and the system will protect its own.

Not only will it protect its own, it will create conditions for the continued expansion and consolidation of big money center banks. It will drive this expansion by ensuring these banks are "too big to fail" and thus receive the funds they need to stay in business no matter what.

All of these manipulations are generated to expand and consolidate the banking/financial sector. And what is more disheartening is that banks – despite the meme of their necessity – are in the larger sense simply glorified bookkeeping shops.

Nov 28 08:03

Swiss, French call to bring home gold reserves as Dutch move 122 tons out of US

The financial crisis in Europe is prompting some nations to repatriate their gold reserves to national vaults. The Netherlands has moved $5 billion worth of gold from New York, and some are calling for similar action from France, Switzerland, and Germany.

An unmatched pace of money printing by major central banks has boosted concerns in European countries over the safety of their gold reserves abroad.

Nov 28 07:54

Here's Why the Price of Gold May Jump 20%

Nov 27 20:38

Manufacturing Won't Save Our Economy

Shh—listen: right now, somewhere, someone, probably someone you know, is making an impassioned argument that if the government would just stop letting these corporations ship our jobs overseas and start investing in American manufacturing, the U.S. would return to its global leadership position with a singing economy. Can you hear it? Despite the popularity of blaming outsourcing and the decline of American manufacturing for all the country’s economic stagnation, the truth is, typically, more complicated.

Nov 27 16:13

MD Bankruptcy Court Gives Homeowner 3 Day Notice for Hearing; Clerk Get's Pissy When I Call Them on it.


Wednesday, November 26, 2014

Mortgage Movies Sees Baltimore MD Bankruptcy Clerk Get Pissy When Asked About Hearing Notice.

Three days notice for a BK hearing? I don't think that's appropriate. So why did it happen?
Yah they reset the hearing but what bullshit. And BTW the Debtor's case was in the section of Court handled by the first Clerk, last name started with an "A."

The second clerk was totally chill, "L-Z" probably because she had no part in this fiasco.

Nov 27 15:58

Axel Merk: Major Wealth Transfer Taking Place

Nov 27 15:44

LIQUIDITY DOES NOT CREATE SOLVENCY

Nov 27 13:20

DID NEW HOME SALES RISE OR FALL?

Nov 27 12:00

The American Dream Has Moved to Scandinavia

We noted in 2010 that the American Dream – the possibility of a “rags to riches” success story – has moved abroad … since social mobility in the U.S. is much lower than in many other developed nations.

(And we pointed out that conservatives are as disturbed as liberals by the collapse of social mobility in modern America.)

A paper published last year by University of Ottawa economics professor Miles Corak tells us exactly where the American Dream has gone … to Scandinavia. Here’s a chart from the study:

Denmark, Norway and Finland have the most social mobility (and Sweden is not that far behind).

On the other hand, the UK, Italy and America have the least social mobility.

Denmark, Norway and Finland have the most social mobility (and Sweden is not that far behind).

On the other hand, the UK, Italy and America have the least social mobility.

Nov 27 09:08

OPEC Decision Is "Major Strike Against The American Market", Russian Tycoon Says

As we warned yesterday, the last time that U.S. oil drillers got caught up in a price war orchestrated by Saudi Arabia, it ended badly for the Americans. OPEC's decision not to cut production, and Nigeria's comments on the need for burden-sharing among non-OPEC members, ensures a crash in the US shale industry according to Leonid Fedun (Russia's Lukoil board member). The Russian finance minister's comments that oil at $80 in coming years is moderately optimistic and as Fedun ominously warns, this is a "major strike against the American market." Isolated, much?

Nov 27 09:03

Soros: The European Union is a “Failed” Experiment In “International Governance”

Steven MacMillan
Activist Post

Is the Western elite’s brainchild – the European Union – disintegrating? Due to persistent economic problems, the rise of “popular resentment” across the continent, the political fallout after the illegal coup in Ukraine and the subsequent unpopular economic war on Russia, the EU is on the verge of crumbling...

Nov 27 08:52

Bell employees planted glowing online reviews of new Bell app

As soon as Bell Canada launched a new version of a phone app last week, the response online was electric; it quickly garnered glowing, five-star reviews on Apple's iTunes App Store.

CBC News has learned that some of those rave reviews were planted. Possibly half a dozen or more were written by Bell Canada employees – many in senior positions – none of whom disclosed their affiliation with the company.

Nov 27 08:43

US pressing Chinese and Arab banks to sanction Russia – head of VTB bank

The US is putting pressure on Chinese and Arab banks, forbidding them to work with Russian sanctioned companies, says Andrey Kostin, head of Russia's second biggest lender VTB.

"We have information on Arab countries, China, and others that US officials come, gather the heads of banks and say: "We will punish everyone who is under Russian sanctions," said Kostin, after a meeting organized by the Stuttgart Chamber of Commerce in Germany.

"We need to take this into account. Nobody wants to become BNP Paribas”, he said, meaning the large French bank that was fined $9 billion for violating US sanctions against Cuba, Iran and Sudan.

However, Kostin believes Chinese credit organizations will provide financing for projects that interest them.

Webmaster's Commentary: 

I think the rest of the wor4ld is getting very tired of the US telling them how to run their economies.

Nov 27 08:42

OPEC decides not to cut oil output

A ‘unilateral decision’ was taken by OPEC not to cut production and to leave the daily output ceiling unchanged at 30 million barrels, despite a major oversupply that has caused oil prices to fall more than 30%.

Nov 26 21:38

MassMutual Senior Vice President found dead, stabbed in chest in apparent homicide

A week after stunned Tribeca woke up to news of a grizzly death in which a Citigroup managing director living on Greenwich Street was found dead in his bathtub with a slashed throat and the lack of a suicide weapon on the

Nov 26 19:24

Apple up just the 25% in the last month:

Nov 26 18:22

Apple up just the 25% in the last month:

Nov 26 16:46

Oil prices fall to a new four-year low

Nov 26 16:32

New mortgage lending drops to a 13-year low

Nov 26 16:17

David Morgan – Optimism for Gold and Silver

Nov 26 14:39

Oil Could Go Below $65 Per Barrel: Deshpande

Nov 26 14:00

The Mystery Of Surging Q3 GDP Explained And Why Americans Are Suddenly $80 Billion "Poorer"

In order to "suggest" that the US economy had grown by a far greater than expected run-rate, the BEA was forced to revise away personal income, and "assume" these had instead been invested in the US economy, in the form of a surge of durable goods purchases. Sure enough, while both incomes and savings tumbled, spending magically surged: So if that "statistical" amount of money you thought you had saved in the BEA's savings.xls spreadsheet just dropped by 10%, fear not dear Americans: it was all used for a good cause: to fabricate a much stronger than expected Q3 GDP number.

Nov 26 13:59

19 US Shale Areas That Are Suddenly Endangered, "The Shale Revolution Doesn't Work At $80"

“Everybody is trying to put a very happy spin on their ability to weather $80 oil, but a lot of that is just smoke... The shale revolution doesn’t work at $80, period.”

Nov 26 13:04

Gold rebound coming in 2015: George Gero

Nov 26 09:45

Bill Holter - Gold will be the Last Man Standing

Bill Holter of Miles Franklin says one of the overarching issues in global finance comes down to trust. Holter explains, “The Russians, Chinese and Indians are all acquiring gold. We have a Swiss referendum coming on Sunday. They want to repatriate their gold. This is about central banks not trusting central banks. Interesting enough, the leading party in the polls in France is talking about repatriating French gold. Why are there all these repatriations all of a sudden? The reason being is central banks are not trusting other central banks. It’s all about trust, and gold is trust. . . . It’s going to be the last man standing.”

Nov 26 09:24

Chinese and Japanese deflationary economies

Do not underestimate the significance of the Asian downturn. Japan saw a dramatic rebirth after WWII and China was transformed into an industrial powerhouse from the “Free Trade” debacle

Nov 26 07:57

ASEAN Economic Community – Why, For What, and By Whom

Tony Cartalucci
Activist Post

On TV, upon the magazine rack, in schools, and on billboards around the country, the coming ASEAN Economic Community (AEC) is being heralded everywhere across Southeast Asia.

Upon ASEAN’s official website, the AEC is described as:

"The ASEAN Economic Community (AEC) shall be the goal of regional economic integration by 2015. AEC envisages the following key characteristics: (a) a single market and production base, (b) a highly competitive economic region, (c) a region of equitable economic development, and (d) a region fully integrated into the global economy."

The AEC is an unquestionable inevitability – and more alarmingly – an inevitability absolutely none of the many hundreds of millions of Southeast Asian citizens have asked for, voted for, or have any direct say in regards to. So inevitable is AEC’s unfurling in 2015, that few have even bothered to ask “why?” “for what?” and “by whom?” ...

Nov 26 07:43

Over a Barrel: OPEC may cut production to boost prices

As oil prices continue to plummet, the cartel of many of the world's major producers, is set to meet on Thursday. The main question facing OPEC is whether to cut production and try to stop the drop.

Nov 26 07:40

HSBC, Goldman Rigged Metals’ Prices for Years, Suit Says

Goldman Sachs Group Inc. (GS) and HSBC Holdings Plc (HSBA) were sued in New York over claims they conspired for eight years to manipulate prices for the precious metals platinum and palladium in what plaintiffs’ lawyers say is the first class-action lawsuit of its kind in the U.S.

Nov 26 07:36

Kean University students question need for $219,000 conference table

A high-tech, $219,000 conference table purchased by Kean University raised eyebrows on the school's campus, where some students questioned whether the expense was warranted.

The 22-foot oak table was specially manufactured by a company in China, where Kean recently opened a campus, and serves as the centerpiece of a new conference center.

Webmaster's Commentary: 

King Arthur would be proud!

Nov 26 07:30

Obamacare offers firms $3,000 incentive to hire illegals over native-born workers

Under the president’s new amnesty, businesses will have a $3,000-per-employee incentive to hire illegal immigrants over native-born workers because of a quirk of Obamacare. President Obama’s temporary amnesty, which lasts three years, declares up to 5 million illegal immigrants to be lawfully in the country and eligible for work permits, but it still deems them ineligible for public benefits such as buying insurance on Obamacare’s health exchanges.

Nov 26 07:17

U.S. Weekly Jobless Claims Jump By 21,000 To 313,000

First-time weekly jobless claims in the U.S. jumped by 21,000 to a seasonally adjusted 313,000 during the week to Saturday, the Labor Department said Wednesday.

The tally was at far above of the range of consensus expectations compiled by various news organizations for new claims of somewhere between 280,000 and 295,000.

Nov 25 23:51

5 Reasons Why I Own Gold

Imposing strict fiscal constraints upon the growing network of global central banks through national referendums (similar to the Swiss Gold Initiative) may be among the few solutions left to citizens who seek to slow exploding government debt levels.

If the monetary madness that affects nations around the world is not stopped and course-corrected by the citizenry, its inevitable consequences will be severe inflation, followed by a sharp and contracted period of deflation.

Gold represents one of several safe havens for the days ahead.

Nov 25 19:22

A Flashbang Video Production

A short documentary that explores the effectiveness of protesting today.

Nov 25 19:19

"Panem Today, Panem, Tomorrow, Panam Forever," from FEMA Region 10

What does all of this social and economic discord — most recently, the Ferguson protests and riots — have to do with coinciding with the recent release of Mocking Jay, part one?

Nov 25 18:55

Senate Report: Scale of Wall Street Holdings Are “Unprecedented in U.S. History”

Last Thursday, the U.S. Senate’s Permanent Subcommittee on Investigations, chaired by Senator Carl Levin, released an alarming 396-page report that details how Wall Street’s too-big-to-fail banks have quietly, and often stealthily through shell companies, gained ownership of a stunning amount of the nation’s critical industrial commodities like oil, aluminum, copper, natural gas, and even uranium. The report said the scale of these bank holdings “appears to be unprecedented in U.S. history.”

"The real power of banking is being able to refuse to turn on the loans tap for one businessman and foreclose while turning it on for a new loan to another businessman so he can buy out the first businessman at auction.” --John Turmel

Manipulating the price of silver down to bankrupt the miners and buy them out on the cheap?

Nov 25 18:46

Kenneth Rogoff on Phasing out Paper Money

Nov 25 16:57

SURPRISE, GOLDMAN SACHS: PUBLIC BANK OF NORTH DAKOTA JUST OUTPERFORMED WALL STREET

"It is more profitable than Goldman Sachs Group Inc., has a better credit rating than J.P. Morgan Chase & Co. and hasn’t seen profit growth drop since 2003. Meet Bank of North Dakota, the U.S.’s lone state-owned bank, which has one branch, no automated teller machines and not a single investment banker."

Nov 25 15:45

The Wrath of Draghi: First German Bank Hits Savers with ‘Negative Interest Rates’

Deutsche Skatbank, a division of VR-Bank Altenburger Land, which was founded in 1859, is not the biggest bank in Germany, but it’s the first bank to confirm what German savers have been dreading for a while: the wrath of Draghi.

Retail and business customers with over €500,000 on deposit as of November 1 will earn a “negative interest rate” of 0.25%. In less euphemistic terms, they have to pay 0.25% per annum to the bank for the privilege of handing the bank their hard-earned money or their business cash.

Inflation has had a similar effect in the zero-interest-rate environment that the ECB and other central banks have inflicted on savers, but this time it’s official, it’s open, it can’t be hidden. Instead of lending your moolah to the bank so that the bank can lend it out to businesses and retail customers for all sorts of economically beneficial purposes, you’re financially better off hiding it in the basement.

Nov 25 13:56

The ugly, nasty face of the kleptocracy at work in Spain

Carmen Martínez Ayudo was driven from her home after her son had used it as security for a €40,000 loan from an individual.

Nov 25 13:36

FERGUSON RIOTS, IMMIGRATION REFORM FRAMING COMING CIVIL WAR AROUND RACE

Chaos has engulfed Ferguson, Missouri as the mainstream media is directing national attention to divisive racial issues at a time of rising tyranny in America. Sensational revelations about government corruption are becoming a regular occurrence under the Obama administration. Ordinary Americans are being targeted while known terrorists are escorted through security. Kidnappers, rapists, and murderers are being released from prison; an action sanctioned by the President of the United States. The BATF allows guns to find their way to Mexican drug lords, while the federal government is fighting to disarm American citizens. Mega-banks launder billions of dollars worth of drug money.

Nov 25 13:24

Thousands of protesters take to streets in Lisbon over austerity

Thousands of people have taken to the streets in the Portuguese capital city of Lisbon to protest against continuation of the government's austerity measures.

Nov 25 13:01

Trotsky at the IMF

Does the Name "Strauss-Kahn" Ring a Bell?

Nov 25 12:55

Swiss Gold Referendum: What It Really Means

In a few days the Swiss people will go to the polls to decide whether the Swiss central bank is to be required to hold 20% of its reserves in the form of gold. Polls show that the gold requirement is favored by the less well off and opposed by wealthy Swiss invested in stocks.

Nov 25 12:11

Virtual money and user’s identity

Bitcoin is the new money: minted and exchanged on the Internet. Faster and cheaper than a bank, the service is attracting attention from all over the world. But a big question remains: are the transactions really anonymous?...

Nov 25 08:54

Here Comes France: Right-Wing Leader Marine Le Pen Demands Central Bank Repatriate French Gold

First Germany, then the Netherlands, perhaps Switzerland this weekend, and now the French right-wing Front National, which shockingly came first in May's European parliament elections, and whose leader Marine Le Pen is currently polling in first place in a hypothetical presidential election (in both a first and run off round), ahead of president Hollande, has sent a letter to the governor of the French Central Bank, the Banque de France, demanding that France join the list of nations which have repatriated, or at least tried to, their gold.

Webmaster's Commentary: 
Nov 25 08:48

Deutsche Bank's Modest Proposal To Central Banks: "Purchase The Gold Held By Private Households"

In other words, all the world's central banks would need to do to "liberate dormant liquidity" , held, as DB suggests, by private households in various "unwanted" troves of physical gold, and in the process also build up their gold holdings, would be to make said gold unattractive to hold.

And if that fails, well, FDR already showed the world how to deal with an intransingent public which does not want to part with its gold in Executive Order 6102, something which the Dutch Central Bank which also made the news recently when it secretly repatriated 122 tons of gold from the NY Fed, already did years ago when it advised pension funds to sell their gold: confiscation.

Webmaster's Commentary: 

"Make gold unattractive" means artificially driving the price down. And the reference to FDR is more than passing as FDR's gold confiscation was a forced sale of private gold to the government ... at $20 an ounce!

Nov 25 06:28

Israeli Authorities Prevent 100 Tons of Vegetables from Exporting out of Gaza

The dispute is preventing the trucks and their cargo to pass, and to be exported to Saudi Arabia and West Bank, according to Al Ray Palestinian Media Agency.

Israeli website Walla reported, on Monday, that allowing the export of the agricultural products comes in the framework of " facilities" granted for Gaza residents in the wake of the last summer's assault on the region, by Israel.

Nov 24 19:03

The Federal Reserve Is At The Heart Of The Debt Enslavement System That Dominates Our Lives

You become a “human resource” that is being exploited to serve the interests of others. Today, some forms of slavery have been outlawed, but one of the most insidious forms is more pervasive than ever. It is called debt, and virtually every major decision of our lives involves more of it.

Nov 24 16:58

5 Things To Ponder: Rising Risk

Nov 24 16:44

Russian Crew Boards 1st Mistral Carrier As France Quietly Completes Construction Of 2nd Ship

“How do you defeat terrorism? Don’t be terrorized.”
? Salman Rushdie

Nov 24 16:18

Deutsche Bank's Modest Proposal To Central Banks: "Purchase The Gold Held By Private Households"

"... the idea of gold purchases has merit because of the possible sellers. Much gold is held in private households, especially in countries like Germany. In some cases these are unwanted remnants of crisis-driven investments five years ago. A program that targeted these holdings would liberate dormant liquidity, some of which might even flow into consumption."

Nov 24 16:18

Most of the World Panics — Is the US Next?

Nov 24 10:55

Video: “I Don’t Need To Look For A Job Because I Get A Check From The Government”

As one group of people barely makes ends meet while putting in 40-hour weeks and overtime, another believes itself to be entitled. They depend on the government for food, housing, medical care, and scores of other services. What this latter group may or may not realize, however, is that all of those free services they have the benefit of receiving are’t actually free. The money has to come from somewhere.

And that ‘somewhere’ is more than likely your wallet.

Nov 24 10:49

Tomgram: Andrew Bacevich, Daydream Believers

“How can you have a war on terrorism when war itself is terrorism?”
? Howard Zinn

Nov 24 10:11

The Swiss Gold Referendum

In a few days the Swiss people will go to the polls to decide whether the Swiss central bank is to be required to hold 20% of its reserves in the form of gold. Polls show that the gold requirement is favored by the less well off and opposed by wealthy Swiss invested in stocks. These poll results provide new insight into the real reason for Quantitative Easing by the Federal Reserve and European Central Bank.

Nov 24 09:37

DHS Resorts to Private Sector to "Fill Special, Discrete Needs"?

When all else fails, resort to the private sector. The U.S. Department of Homeland Security has announced that they have chosen six individuals with corporate experience to "help us further improve the travel experience for the American public and visitors to our country." Those participating in the loaned executive program will "share their expertise with Homeland Security to fill special, discrete needs," the agency announced. DHS explained that the private-sector representatives can "Present new perspectives" and "provide 'fresh eyes' on old problems, giving government another lens to view challenges—and overcome them." They added that contributors will "Receive public recognition."

Nov 24 07:42

Gregory Mannarino - Deflation First then Massive Inflation

On timing of the dollar’s demise, Gregory Mannarino of TradersChoice.net says, “Money velocity is the speed money moves through the system. Once we begin to see the money velocity start to pick up, we’re going to have the $3.3 plus trillion, which the Federal Reserve has printed out of thin air since the crash of 2008.

Nov 23 23:00

Craigslist Founder Ambushed By 20/20 + GOV Hack (X-mas Shop At Wallmart Slaves!)

Criticism Over Recalled Products

The Consumer Product Safety Commission says Craigslist is “morally irresponsible”

Nov 23 18:25

Hidden story in US PPI increase

Nov 23 13:44

Japan's Economic Slowdown Explained

Nov 23 12:32

Are you better off this Thanksgiving than you were last Thanksgiving?

Are you in better shape financially than you were last Thanksgiving? If so, you should consider yourself to be very fortunate because most Americans are not. As you chow down on turkey,

Nov 23 11:49

What Is Real Money?

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