ECONOMY

Jul 16 08:42

Corporatist Lobbying Replaced a Free Market

The practice of a pure free market is so rare that a plausible argument can be made that a free market economy never existed. However, as the saying goes, Once Upon A Time, economic commerce did reflect a voluntary basis for business transactions. The fortunes of trade rested upon the mutual benefit of all parties, since repeated satisfaction built sustaining economies. Competition was the norm and the quality of goods and services developed that propelled expanding growth and prosperity for the largest numbers of participating producers and consumers. In the corporatist economic model, the goal is to create and protect monopolies, while stamping out any enterprises that challenge the Plutocrat system.

Jul 16 07:12

Is FEMA Preparing For Martial Law Over The "Mass Exodus" Of Illegal Aliens?

Obama wants to setup a national emergency announcement system that can broadcast to the entire country when there is a terrorist attack. Be prepared for a false flag.

Jul 16 06:23

Expected Microsoft Layoffs Could Top 5,800, Report Says

Microsoft (MSFT) is planning its biggest round of job cuts in five years as the software maker looks to integrate Nokia Oyj's handset unit, Bloomberg reported, citing people with knowledge of the company's plans.

The reductions, expected to be announced as soon as this week, could be in the Nokia unit and the parts of Microsoft that overlap with that business, as well as in marketing and engineering, Bloomberg reported.

Webmaster's Commentary: 

Left unsaid; the disaster of Windows 8 and the backlash against Microsoft's partnership with the NSA.

Jul 15 21:14

9 EU countries ready to block economic sanctions against Russia

France, Germany, and Italy are among EU members who don’t want to follow the US lead and impose trade sanctions on Russia. US sanctions are seen as a push to promote its own multibillion free-trade pact with Europe.

“France, Germany, Luxembourg, Austria, Bulgaria, Greece, Cyprus, Slovenia, and EU President Italy see no reason in the current environment for the introduction of sectorial trade and economic sanctions against Russia and at the summit, will block the measure,” a diplomatic source told ITAR-TASS.

In order for a new wave of sanctions to pass, all 28 EU members must unanimously vote in favor. EU ministers plan to discuss new sanctions against Russia at their summit in Brussels on Wednesday, July 16. Even if only one country vetoed, sanctions would not be imposed. With heavyweights like France and Germany opposed to more sanctions the measure will likely again be stalled, the source said.

Jul 15 21:13

US Dollar’s Days Are Numbered as BRICS Meet

A summit of major emerging “BRICS” economies in Brazil is the latest sign of the decline of the US dollar as the standard global currency for reserves and trading, James Rickards, author of Currency Wars told RIA Novosti.

“We see the BRICS’ desire to shift away from the dollar, a unified Eurozone with a sovereign bond market waiting in the wings and a requirement on the International Monetary Fund to re-liquefy the world when the next financial crisis hits,” Rickards said.

“Put all that together and you see that the dollar’s days are numbered,” he added.

Jul 15 19:58

20 Signs The Epic Drought In The Western United States Is Starting To Become Apocalyptic

When scientists start using phrases such as "the worst drought" and "as bad as you can imagine" to describe what is going on in the western half of the country, you know that things are bad. Thanks to an epic drought that never seems to end, we are witnessing the beginning of a water crisis that most people never even dreamed was possible in this day and age. The state of California is getting ready to ban people from watering their lawns and washing their cars, but if this drought persists we will eventually see far more extreme water conservation measures than that. And the fact that nearly half of all of the produce in America comes out of the state of California means that ultimately this drought is going to deeply affect all of us. Food prices have already been rising at an alarming rate, and the longer this drought goes on the higher they will go.

Jul 15 17:58

Follow the Money

Jul 15 17:50

Global equity melt-up in full swing even if investors hate themselves

There is no longer much doubt. We are in the midst of a late-cycle blow-off in global equity markets.

Bank of America’s monthly survey of world fund-managers shows that investors have their second highest allocation to stock markets in thirteen years at 61pc. It is lead by shares in technology, energy, and even banks, and is stretched to a net 35pc overweight in Europe. “The summer 'melt-up' is likely to be followed by an autumn correction,” it said.

Jul 15 17:24

America's 1 percenters are even richer than we thought: Richest actually control 37 percent of U.S. wealth

America's rich are even more well off that we originally thought, a new study has found.

The top 1 percent of U.S. earners were previously estimated to control 30 per cent of the country's wealth but it seems that number could be closer to 37 per cent.

A new working paper from European Central Bank senior economist Philip Vermeulen claims 30 percent is a lowball estimate of the net worth of the nation's elite because wealthier households are less likely to respond to surveys about their assets than lower-income families.

Jul 15 16:13

US preparing unilateral sanctions on Russia

The United States is considering imposing unilateral sanctions on Russia over its threatening moves in Ukraine, a shift in strategy that reflects the Obama administration's frustration with Europe's reluctance to take tougher action against Moscow, according to U.S. and European officials.

Jul 15 15:12

Red Capitalism’s Porous Veins: Why Beijing’s Rulers Struggle With The Deluge Of Flight Capital

The Wall Street Journal carried a story yesterday indicating that China’s major banks have halted an experimental program, sanctioned by the country’s central bank, that helped citizens transfer large sums overseas. Among other places, this huge tide of flight capital ended-up in affluent west coast housing markets from Vancouver to San Diego.

Specifically, Chinese buyers last year scooped up $22 billion of US homes—a figure which was up a whopping 72% over prior year. Moreover, the average purchase price was nearly $600,000 or more than 3X the US median price, and overwhelmingly the purchases were all-cash. So this makes for some interesting statistics. Upwards of 40,000 Chinese buyers came barreling into the top 5% of the US housing market bearing bundles of greenbacks.

Jul 15 13:52

Five nations forming their own world bank: Is this the new New World Order?

Five countries are tired of US dominance of the global financial system and are building their own versions of the World Bank and the International Monetary Fund (IMF).

The group is called BRICS, and the members are all developing or newly industrialized countries that are distinguished by their large, fast-growing economies and significant influence on regional and global affairs.

Jul 15 13:37

Do Canadians Need to Stack Silver?

Jul 15 12:32

Feeling Poorer Through The Power Of Inflation

You have to love how the Federal Reserve downplays inflation when they are the primary source of it with other central bankers for this monetary phenomenon. They continue to play inflation down because it gives them the power to continue to use policies that seem to only aid their banking allies while making working Americans poorer by the day. Inflation has a slow eroding power that is not readily visible since it usually takes time to work through a system. Looking at a broader timeframe however it becomes readily apparent that inflation is hitting our system hard and most working families don’t need an advanced degree in economics to understand this. According to the CPI, the overall rate of inflation since January of 2000 has been 39 percent. The Fed prefers to use the PCE Deflator measure and this only has inflation running at a 31 percent rate.

Jul 15 11:42

The Dongs Revaluation is Imminent

Jul 15 11:18

A guy recorded his phone call when he tried to cancel cable, and it's a total nightmare

Calling your cable service provider is usually a headache, but tech journalist Ryan Block's experience was far worse than your typical support call.

When Block and his wife, Veronica Belmont, attempted to cancel their Comcast service over the phone, the representative incessantly demanded to know why.

The representative was more than persistent — he sounded aggressive and inappropriate based on the eight-minute snippet from the conversation Block posted on SoundCloud.

The portion of the call posted on SoundCloud starts at 10 minutes in, which means the entire phone call lasted for about 20 minutes.

Even after Block said he didn't want to say why he chose to leave Comcast, the customer service rep kept pushing.

"Why don't you want faster speed?" the rep asked.

Jul 15 10:16

Microsoft could lay off thousands this week

This could be Microsoft's biggest employee cut in the company's history, according to the report, with layoffs "probably" centering in the Nokia and Microsoft divisions as well as its marketing and engineering departments. The latter, according to Bloomberg's sources, could include the global Xbox team and its U.K. European headquarters.

The report states that individuals "with knowledge of the company's plans" said Microsoft's restructuring is still in the planning phases, but could be carried out as early as this week. When asked for comment on the report, a Microsoft spokesperson declined to comment.

Webmaster's Commentary: 

Danged Windows 8!

Microsoft's arrogance got the better of them. They stopped giving the customers what they wanted and forced the customers to buy what Microsoft wanted to sell. I am seeing Windows 8 machines marked down 50% in come places, and Windows 8 is LOSING market share to Win7 and refurbished XP machines.

Jul 15 10:05

PETER SCHIFF: THE REAL CRASH IS YET TO COME

Jul 15 09:37

The Numbers are so Artificial Now, It Wouldn’t Take Much for the “Beach Ball” to Pop-Up – Eric Dubin

“$50,000 dollar gold and all these other numbers that other people have thrown out, wouldn’t be all that crazy…”

Maybe excess profit taxes come into play and since you don’t have paperwork for something you bought, the IRS might say “Oh, ok, your basis price is zero, and therefore, everything you’re selling it for has to be reported as 100% capital gains. Therefore, we are going to tax you at 50, 60, 70%” or Whatever you do that is excess profit taxes for all of these social misfits and terrorists that dare to try to hedge and protect themselves from a financial system that is teetering on the edge. I have every expectation that we are going to have excess profit taxes (on precious metals). (video)

Jul 15 08:42

B.C. aspires to trade Chinese currency

In a bid to lure more Chinese investment into the province, British Columbia Premier Christy Clark has billed Vancouver "the most Asian city outside of Asia."

Clark told an elite trade delegation Monday that the province is ramping up efforts to make trade deals with Asian nations, in part by charting a route to build the first international trading centre for the Chinese currency.

"Most of the world thinks of Asia still, or calls Asia the Far East. We call Asia the West," she told about 80 senior business executives with the APEC China Business Council to Canada, which represents some of the largest private and state-owned enterprises in China.

In fact, Clark told the invite-only forum her staff reoriented a massive map outside her Vancouver office, and now one side shows western Canada, while the other side displays eastern Asia.

Webmaster's Commentary: 

So now Canada moves away from the dollar!

Jul 15 08:09

Australian government covers up CBA bank scandal

Following a damning report on losses of life savings by customers of the Commonwealth Bank of Australia (CBA)—one of the country’s big four banks—the Abbott government is working closely with the management to protect the bank. At the same time, it is trying to push through new financial advice regulations that will lead to even greater ripoffs being suffered by small investors.

The 519-page report tabled by the Senate Economics References Committee examined the operation of the Australian Securities and Investments Commission (ASIC), the government’s corporate regulator. The report revealed that more than 1,000 CBA clients, including self-funded retirees, lost their savings because the bank’s financial planning companies not only misled them into buying high-risk products but also fabricated documents, doctored clients’ files and forged signatures.

Jul 15 07:50

What Happened To Barclays' Dark Pool Volume After It Got Caught

In the last week of June Barclays was charged with lying to clients about its Dark Pool, Barclays LX, where instead of preventing HFT algos from frontrunning institutional buyside orders, the criminal bank was in fact allowing and encouraging its predatory, parasite clients to abuse orderflow in any way they saw fit. The motive, if there was any confusion: to become the largest dark pool exchange in the US, filled with HFT scalpers, now that the bulk of other revenue streams for the British company have trickled to a halt.

Unfortunately for Barclays it should put its ambitions on permanent halt, because as was revealed today by FINRA's new "ATS Transparency" database, Barclays total dark pool volume has plunged by a whopping 37% to under 200 million shares.

Jul 15 07:10

Vladimir Putin Interview with Russian news agency ITAR-TASS on the eve of BRICS summit in Brazil

The forthcoming summit’s theme is Inclusive Growth: Sustainable Solutions. Therefore, we will consider the most urgent issues in global politics and the economy, as well as the BRICS (Brazil, Russia,India,China,South Africa) development.

How can this be achieved in practice?

First of all, to develop cooperation in the UN in every possible way, persistently counteract individual states’ attempts to impose on the international community the policy of displacing unwanted regimes and promoting unilateral solutions to crisis situations. We propose to create a mechanism of regular high?level consultations between our foreign ministries on different regional conflicts to agree, where possible, on common positions and joint efforts to ensure their political and diplomatic settlement.

Jul 15 07:08

June Retail Sales Miss Across The Board, May Revised Higher

Following disappointing retail sales number for both April and May, or two thirds of Q2, there was hope that June would finally be the month retail sales would soar. Alas, that would not be the case, following the release of the latest retail sales data by the Department of Commerce which reported that in June retail sales rose just 0.2%, well below the 0.6% expected and matching the lowest end of the forecast expectations (from 0.2% to 1.1%).

Misses were also reported for retail sales ex-autos (0.4%, Exp. 0.5%) and ex-autos and gas (0.4%, Exp. 0.5%). Perhaps the only saving grace was the upward revision of May data from 0.3% to 0.5% for the headline number and from 0.0% to 0.3% for the ex-autos and gas. If anything, however, today's retail sales increase which was the slowest in 5 months confirms that the trend we warned about in April, namely that the US consumer tapped out in March to fund that month's mad spending spree, and the spending trend has been deteriorating ever since.

Jul 15 07:03

Portugal Contagion Spreads: Espirito Santo To Default On Portugal Telecom Loan, Business Lending Drops Most On Record

Despite reassurances from US asset-gatherers and TV 'personalities' that Portugal must be fixed (because US equities are up), it is anything but. Today's triple whammy from the 'recovered' Portugal starts with Banco Espirito Santo bonds and stocks hitting new record lows (down over 10% more on the day). The contagion has rippled across to Rioforte, which controls Grupo Espirito Santo's non-financial arm - and is likely to default on a EUR 847 million payment to Portugal Telecom. And just to add further salt to that wound, Portuguese business lending in May collapsed at a record pace (down 8.23%). But apart from that, yeash Portugal is all fixed and their sovereign bonds are worth every penny...

Jul 15 06:57

Check Mating Washington in its Own Backyard with BRICSIANSE

The United States and its closest allies have attempted to isolate Russia and President Vladimir Putin from the world stage. As a result of Western support for the Ukrainian regime that came to power through violence in Kiev, actions taken by Western powers against Russia have included expelling Russia from the G-8 of capitalist powers, the freezing of the assets of Russian government officials and Russian banks, and imposing travel bands on Russian citizens.

Russia and China appear determined that Ukraine and Georgia will be the «line in the sand» for any further encroachments by George Soros- and CIA-led «R2P» revolutions in the Eurasian space. It is also clear that Putin outsmarted Obama in his own backyard.

Jul 15 06:40

The Full-Time Scandal of Part-Time America

There has been a distinctive odor of hype lately about the national jobs report for June. Most people will have the impression that the 288,000 jobs created last month were full-time. Not so.

The Obama administration and much of the media trumpeting the figure overlooked that the government numbers didn't distinguish between new part-time and full-time jobs. Full-time jobs last month plunged by 523,000, according to the Bureau of Labor Statistics. What has increased are part-time jobs. They soared by about 800,000 to more...

Jul 15 06:39

Bank Failures in Portugal and Bulgaria - Nothing to See Here

Podcast Summary:

CNN Money outlines why the Portuguese bank default is no reason to worry:

Jul 15 06:37

Closure notices sent to Trump Plaza workers

Job losses at Trump Plaza when the Atlantic City casino shuts down in September will be even worse than expected.

Trump Entertainment Resorts began mailing notices to its workers on Monday, informing them that while a final decision has not been reached, management expects to close the casino on Sept. 16.

Jul 15 06:37

Emerging nations plan their own world bank, IMF

Fed up with U.S. dominance of the global financial system, five emerging market powers this week will launch their own versions of the World Bank and the International Monetary Fund.

Brazil, Russia, India, China and South Africa -the so-called BRICS countries - are seeking "alternatives to the existing world order," said Harold Trinkunas, director of the Latin America Initiative at the Brookings Institution.

At a summit Tuesday through Thursday in Brazil, the five countries will unveil a $100 billion fund to fight financial crises, their version of the IMF. They will also launch a World Bank alternative, a new bank that will make loans for infrastructure projects across the developing world.

Jul 15 06:37

The Numbers are so Artificial Now, It Wouldn’t Take Much for the “Beach Ball” to Pop-Up

Maybe excess profit taxes come into play and since you don’t have paperwork for something you bought, the IRS might say “Oh, ok, your basis price is zero, and therefore, everything you’re selling it for has to be reported as 100% capital gains. Therefore, we are going to tax you at 50, 60, 70%” or Whatever you do that is excess profit taxes for all of these social misfits and terrorists that dare to try to hedge and protect themselves from a financial system that is teetering on the edge. I have every expectation that we are going to have excess profit taxes (on precious metals). ~Eric Dubin

Jul 15 06:18

The Real Purpose Of The IMF

The International Monetary Fund was set up in 1945, describing itself as an “organization of 188 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world.”

This all sounds very laudable, but in reality the IMF has a very different purpose from that which is stated. If you look at the history of the IMF’s intervention in countries around the world you will see a trail of disaster and looting that repeats time and time again wherever they go.

Jul 15 06:11

Gerald Celente - Trends In The News - "Ditching The Dollar"

Jul 15 06:10

Gowex Chief Orchestrated Sham Hiding Lies in Plain Sight

Gowex founder Jenaro Garcia fabricated clients and contracts, listed a defunct company as a holding company for his stake in Gowex, and put numbers in reports that didn’t make any sense, even as matters of basic arithmetic.

It was all so brazen that Gotham City Research LLC, the short-seller whose July 1 report exposed the sham, even began to question whether its conclusion -- that Gowex was overstating revenues -- was off-base.

“We were looking for things that might undermine our view,” Gotham founder Daniel Yu said in an interview last week in New York. “It was like that movie ‘Groundhog Day’ where we’re waking up, expecting to see a different outcome, but each day validates our thesis.”

Garcia owned up to the deeds, resigning from the company on July 5 and saying on Twitter he made a “confession” to court and would cooperate with investigators.

Jul 15 06:07

Misbehaving Bankers Threaten System, BOE’s Bailey Says

Bank of England Deputy Governor Andrew Bailey said banks’ misconduct risks undermining the entire financial system following increasingly large fines.

Misbehavior has “broader consequences,” Bailey, who leads the central bank’s Prudential Regulation Authority, said in an interview in London today. “The risk of loss of confidence in the integrity of financial markets is very, very big. This threatens a vital underpinning of the system.”

Webmaster's Commentary: 

In other words, the public is catching on that the whole financial system is a con-game.

Jul 15 06:06

Airbus Extends Jet-Sales Blitz at Air Show to Rout Rival Boeing

Airbus Group NV (AIR) extended its lead over Boeing Co. (BA) on the second day of the Farnborough Air Show by pulling in a record deal for single-aisle aircraft and bolstering sales of its new A330neo wide-body model.

The European manufacturer pushed out a rapid-fire string of announcements that included SMBC Aviation Capital Ltd. buying jets for $11.8 billion, followed by BOC Aviation Ltd. taking 43 single-aisle aircraft, as well as deals from two other leasing companies worth a combined $8.8 billion at list price. Boeing’s accords from two customers came in at $5.8 billion.

Jul 15 05:52

Why We're Doomed: Interest and Debt

Even if the economy were growing at a faster pace, it wouldn't come close to offsetting the interest payments on our ever-expanding debt.

If you want to know why the Status Quo is unsustainable, just look at interest and debt. These are not difficult to understand: debt is a loan that must be paid back or discharged/written off and the loss absorbed by the lender. Interest is paid on the debt to compensate the owner of the money for the risk of loaning it to a borrower.

Jul 14 19:44

The Head Of ‘The Central Bank Of The World’ Warns That Another Great Financial Crisis May Be Coming

Most people have never heard of Jaime Caruana even though he is the head of an immensely powerful organization. He has been serving as the General Manager of the Bank for International Settlements since 2009, and he will continue in that role until 2017. The Bank for International Settlements is a rather boring name, and very few people realize that it is at the very core of our centrally-planned global financial system. So when Jaime Caruana speaks, people should listen.

Jul 14 19:41

The Final Warning: Individual Investors Piling Into Stocks, Market Leverage Hits All Time Highs

Once the panic starts there’s going to be a stampede for the exits and all of those large-scale economic collapse simulations the U.S. government has been preparing for may soon become real world scenarios.

Jul 14 18:34

British executive salaries surpass average worker's ‘over 160 times’

As income inequality in the UK continues to rise, executive paychecks are a startling 162 times higher than the salaries of average British workers, according to research conducted by a British think-tank.

This growing disparity in pay is compounded by a recent 15 percent rise in salary for the UK’s top earning managers. A new report published by the High Pay Centre (HPC) has urged the government to take swift and “radical action” to address this widening gap, by demanding that firms cap executive salaries at a set ratio of those earned by their lowest paid staff members.

Jul 14 17:38

Awaken slaves! - How The Private Central Bank Ponzi Scheme Trapped And Destroyed America

Private Central Banking is not about banking, or even about money. It is about Control. Private Central Banking is about rule by enforced servitude to artificially created debt. No different from other hoaxes played by the rich on the poor, such as Rule by Divine Right, or Rule by Chattel Ownership of your Body (slavery). As a human civilization we have outgrown these hoaxes and realize they are illegitimate forms of governance. So too shall it be with Rule by Debt. Those previous systems only worked as long as the subjugated population believed that those systems were real; the way the world was supposed to be. When the people broke free of the slavery of belief, those forms of enslavement collapsed. For the few to feel rich, everyone else must be poor.

Jul 14 17:24

Big Corporations Have An OVERWHELMING Amount Of Power Over Our Food Supply

From our fields to our forks, huge corporations have an overwhelming amount of power over our food supply every step of the way. Right now there are more than 313 million people living in the United States, and the job of feeding all of those people is almost entirely in the hands of just a few dozen monolithic companies. If you do not like how our food is produced or you don't believe that it is healthy enough, it isn't very hard to figure out who is to blame. These mammoth corporations are not in business to look out for the best interests of the American people. Rather, the purpose of these corporations is to maximize wealth for their shareholders. So the American people end up eating billions of pounds of extremely unhealthy food that is loaded with chemicals and additives each year, and we just keep getting sicker and sicker as a society. But these big corporations are raking in big profits, so they don't really care.

Jul 14 16:49

‘World is still livable due to BRICS counterbalancing West’

The West is now starting to move to its final decay, with the Russia-China alliance becoming stronger, offering Latin America and other regions a multipolar model of the world, author and international consultant Adrian Salbuchi told RT.

Jul 14 16:03

Couple aged 84 and 75 are living rough in a bus stop after being evicted by their landlord - because they don't have debit cards and don't use internet banking

It is understood the couple, who have asked not to be named, lost their home because they were unable to pay their rent following changes to how their pensions are paid.

The payments are made electronically into bank accounts, but the couple don't use debit or credit cards and are not familiar with internet banking, so have not been able to access their funds.

As a result they have been homeless while the matter gets resolved.

Jul 14 16:02

Obama administration says the world’s servers are ours

US says global reach needed to gut "fraudsters," "hackers," and "drug dealers."

Jul 14 15:42

EU Bail-Ins Coming As Germany OKs Depositor Bail-In

Bail-ins are coming to the EU as Germany has quietly OK’d depositor bail-ins under the cover of World Cup fever.

Germany’s cabinet Wednesday approved plans to force creditors into propping up struggling banks beginning in 2015, one year earlier than required under European-wide plans that set rules for failing financial institutions.

The new bail-in rules are part of a package of German legislation on the European banking union–an ambitious project to centralize bank supervision in the euro zone and, when banks fail, to organize their rescue or winding-up at a European level.

Germany plans to force creditors into propping up struggling banks beginning in 2015, one year earlier than required under European-wide plans that set rules for failing financial institutions, according to a senior German finance ministry official.

Jul 14 15:27

Federal Tax Revenues Set Record Through June; Feds Still Running $385.8B Deficit

Federal tax revenues continue to run at a record pace (in inflation-adjusted dollars) in fiscal 2014, as the federal government’s total receipts for the fiscal year closed June at an unprecedented $2,258,565,000,000 according to the Monthly Treasury Statement.

Jul 14 15:04

You Want a Solution? Try Not to Get Hurt When It Collapses, Then Start Over

Once the deadwood piles high enough, the random lightning strike ignites a fire so fast-moving and so hot that it cannot be suppressed, and the entire financial system burns to the ground.

Jul 14 15:02

The Head Of ‘The Central Bank Of The World’ Warns That Another Great Financial Crisis May Be Coming

Most people have never heard of Jaime Caruana even though he is the head of an immensely powerful organization. He has been serving as the General Manager of the Bank for International Settlements since 2009, and he will continue in that role until 2017. The Bank for International Settlements is a rather boring name, and very few people realize that it is at the very core of our centrally-planned global financial system. So when Jaime Caruana speaks, people should listen.

Jul 14 14:53

Reagan Warned Us About Obama

Jul 14 14:20

George Soros and the Shadow Party Behind Crises to Take Down America

From undermining the Second Amendment and influencing elections to sponsoring color revolutions in Eastern Europe and the Middle East, the ominous footprint of George Soros is everywhere.

Jul 14 14:14

Russia Bans Purchases of Foreign-Made Cars By Government

Federal and municipal governments were prohibited from buying foreign-made cars by Russian Prime Minister Dmitry Medvedev, who said he hoped the decision would "help preserve necessary balance on the market."

The state spends huge sums buying equipment, and "of course it is better if they go to domestic companies, not foreign producers," Interfax quoted Medvedev as saying at a meeting with deputy prime ministers on Monday.

The order signed by Medvedev will hit not only the sleek black cars of high-ranking federal officials, but public transport and vehicles for emergency services and utilities companies.

However, the aim is not to exclude foreign companies from the Russian market altogether, but to "develop manufacturing cooperation with Russian producers ... in the form of localization of production," Medvedev said.

Webmaster's Commentary: 

A non-sanction sanction!

Jul 14 13:45

The Kingdom Of Shylock

Plutocracy is more despotic then monarchy; more insolent than aristocracy; more selfish than bureaucracy. It accumulates by conscious fraud more money than it can use, and denounces as public enemies all who question its methods or throw a light upon its crimes.

(W. J. Bryan, New York Reception, 1906).

All undertakings in the field of industry are now dependent upon the consent of the banker.

The Stock Exchange activities of the banks are becoming more and more the controlling force in every department of economic life.

Modern capitalism is the child of money-lending

Money-lending contains the root idea of capitalism

In money there is no thought of production

In money-lending economic activity has no meaning

—Werner Sombart in “The Jews and Modern Capitalism.”

Webmaster's Commentary: 

Online version of the book, "The Kingdom of Shylock."

Jul 14 13:28

What the World Cup Can Teach About Corruption

Brazil’s crushing World Cup loss to Germany’s world champion team wasn’t just bad news for Brazilian football fans. It’s also likely to reignite the anger that many Brazilians felt towards the government of President Dilma Rousseff for hosting such a spectacular eventwhen it could hardly afford decent public transport and social services for its citizens.

Jul 14 12:43

The Implosion Is Near: Signs Of The Bubble’s Last Days

The central banks of the world are massively and insouciantly pursuing financial instability. That’s the inherent result of the 68 straight months of zero money market rates that have been forced into the global financial system by the Fed and its confederates at the BOJ, ECB and BOE. ZIRP fuels endless carry trades and the harvesting of every manner of profit spread between negligible “funding” costs and positive yields and returns on a wide spectrum of risk assets.

Jul 14 12:28

Why Do Banksters Get Help but Not Homeowners?

It's time to start helping the people, and stop helping Wall Street.

According to an agreement announced earlier today, big bank Citigroup will pay $7 billion to settle a Department of Justice investigation into that bank's involvement with risky subprime mortgages.

Jul 14 11:12

26 PICTURES OF LOW INCOME ECONOMIES

Jul 14 10:47

Rick Santelli Has Epic Meltdown On CNBC

Jul 14 10:47

Airbus Seeking Patent For Bicycle Seats In Plane Cabins Because Flying Isn’t Uncomfortable Enough Already

While you’re fighting for territory on the arm rest and suffering the kicks, nudges and otherwise annoying seat disturbances that come with flying commercial airlines, just think… it could be worse. How much worse? Like perching on a bicycle seat worse.

Airbus submitted a patent in Europe for the seats, with have small backrests but no tray tables or headrest, reports the Los Angeles Times. And legroom? Keep dreaming.

Jul 14 10:32

Omens of a Derivatives Meltdown (Part 1)

Published on Jul 10, 2014

Part 1 of this series explains the colossal size of the derivatives market and the heads-Wall Street-wins / tails-Main Street-loses nature of this painstakingly rigged casino.

Do you think derivatives are unregulated? They are--until a series of bets goes bad and starts toppling a bank, at which point rules materialize out of nowhere and meticulously provide for the looting of your checking and savings accounts to pay off the bad bets made by your bank.

When (not if) the derivatives chain of dominoes starts to teeter, it's going to be Open Season on your bank accounts. Say, what interest rate is your bank paying you to take on such a huge risk, anyhow?

Jul 14 09:27

What a breathtaking liberty! Venezuelan airport charges passengers £11.80 for FRESH AIR

Holidaymakers are getting used to paying for hidden extras when they fly but what about being charged for fresh air?

An airport in Venezuela is doing just that in an attempt to pay for a new air conditioning unit.

Jul 14 09:02

Ron Paul: The Collapse Is Close

Jul 14 08:58

The NEW Silver FIX — Alasdair Macleod

Jul 14 08:30

The Kingdom of Shylock

First published in 1917, when it was repressed. This is a reprint of the second edition. Frank Anstey (1865-1940) was a leader of the Labor Party, a committed socialist, supporter of public finance and the Commonwealth Bank, and viewed WWI as “a war of rival capitalists”. He was more right than wrong. In this age of the globalisation, of organized criminality, we need more like him who will stick to their guns against cannibalistic corporate capitalism. This is an essential reference in understanding the true Labor Party, economic power in Australia, how far we have come along the road to total financial control of our lives, and conversely how diminished is our understanding of the forces that torture us.

Webmaster's Commentary: 

Hesperian Press sent me a copy of this book. I read it last night. In fact I could not put it down. There, in 1917, was a clear understanding that the world was enslaved by those who held control of the monetary mediums of exchange, and how those private banking interests had driven the world into World War 1. Given the title, and the threat to the private central bankers, the book was denounced and suppressed. But is is worth the read in light of current events!

The lesson from this book is that politicians have indeed known all along that all wars are bankers' wars, but continue to be willing to sell your childrens' lives for a share in the bankers' treasure!

Jul 14 08:29

Picturing The March Of Tyranny

Well-known libertarian cartoonist Ben Garrison has previously summarized the state of the States perfectly in this image. As he describes it - the cartoon "shows how the banking and corporate masters (crony capitalist fascists) control both major parties behind the scenes. They keep us distracted with left vs. right while giving us the illusion that voting for one of the other parties will solve things. It won't." It appears his 'prophecy' has grown more and more the reality in the past years...

Jul 14 08:26

Robbing Peter

On 16th March 2013, the banks of Cyprus, with the approval of the Cyprus Government, the European Commission, the European Central Bank, and the International Monetary Fund, confiscated private savings of accounts exceeding €100,000.

At the time, there were two readings of the unanimous approval by four bodies. As the confiscation was presented to the public, the unanimous approval implied that the confiscation was above board. To those who looked a bit deeper, however, the unanimous approval meant that, not only had the four bodies clearly been working on the plan for some time, behind closed doors, but it also demonstrated that all four bodies colluded to steal a significant amount of privately owned money.

Jul 14 08:14

US Offers Immunity To Junior FX Manipulators In Exchange For Ratting Out Their Seniors

In another indication that the ongoing FX probe is picking up steam, or at least preparing for primetime public PR consumption, the FT reports that US prosecutors are offering immunity deals to junior traders in London. The quo for this particular quid: rat our the senior staff involved in what has previously been reported to be years of currency manipulation.

Jul 14 08:13

Britain Buys Water Cannons; Fears Civil Unrest From Government Workers

he British government has just invested in water cannons because they are fearing the rising tide of civil unrest as austerity is forcing the reduction of state workers and their pensions. I have been warning that unemployment will rise, but this time it is going to flow more so from the state and municipal workers. In the UK, hundreds of thousands have took to the streets to protest against the austerity measures of the government. Prime Minister Cameron has no choice for this is the collapse of socialism. Those who think I am anti-poor or whatever, are missing the point. It is the rising cost of government that is out of control and NO LEVEL of tax increase can reverse this trend.

Jul 14 07:53

Corporate “Labor Reform”: Proposals to Maximize Workplace Bullying

Leading management consultants, top government officials and prominent financial journalists are proposing, what they dub, “labor reforms” as the solution for double-digit unemployment and underemployment, economic stagnation and the decline of capital investments.

Jul 14 07:39

Weaponized Military Grades of BS

It is a momentous occurrence whenever the scepter is passed from one regent to the next. Each of them brings with their rule a general state of appearances. Pol Pot brought one. Peter the Great another and Queen Victoria something else. It is true that whatever came to pass was somewhat influenced by the people it came to pass upon but I can show you comparative levels of brutality in each of these. I can show you (in these very days) and you can find; scenes of elegant opulence and all manner of plenty with total want and despair only a short distance away.

Jul 14 07:26

Photos That Make the Rude Pundit Want to Toast with a Pint of Thornbridge Ale and Then Drink Until He Pukes

That up there happened yesterday in London. Similar marches occurred all over Great Britain. It's a strike and protest from anywhere between 500,000 and a million workers (depending on who's counting) in unions for teachers, firefighters, and other civil servants in response to the government's offer of a contract that gave them a 1% raise after wages were frozen in 2010. As huge trade union Unison put it, "The current government offer leaves most workers with pay worth almost 20% less than in 2010. Falling pay also means loss of pension for the rest of your life."

Jul 14 07:21

Exceptional America in Decline: The US Empire as Basket Case

For America’s national security state, this is the age of impunity. Nothing it does -- torture, kidnapping, assassination, illegal surveillance, you name it -- will ever be brought to court. For none of its beyond-the-boundaries acts will anyone be held accountable.

Jul 14 07:11

While Argentina Celebrates, Government Quietly Slides Towards Default. Again.

Argentina has made a long habit of defaulting on their obligations; it’s happened 7 times in the last 200 years.

And now, just 13 years after their last default, there’s serious risk they’ll do so again.

Back in 2001, the Argentine economy all but collapsed. In a matter of days, the country went from mild recession to full-blown economic crisis.

The currency went into freefall. Police were out in the streets shooting protestors. Unemployment and crime rates soared overnight. And the nation defaulted on its debt—a record amount at the time.

In less than 30 days, history may repeat.

Jul 14 07:05

Sainsbury’s £592m pension deficit poses a 'material risk to business’

The retailer is one of six FTSE 100 companies whose disclosed pension liabilities are now larger than its equity market value

Jul 14 07:00

Toward a Europe Whole and Free (To Loot)

Tony Cartalucci
Activist Post

When the special interests who created and direct the agenda of the European Union disagree with member states, the true nature of this supranational enterprise becomes painfully apparent – one of dictatorial special interests pursing regional policy that benefits none of its individual member states. No example of this can be clearer than the dispute that has emerged over the construction of Russia’s South Stream natural gas pipeline set to run through Bulgaria, Serbia, Hungary, and Italy...

Jul 14 06:06

You Want a Solution? Try Not to Get Hurt When It Collapses, Then Start Over

Once the deadwood piles high enough, the random lightning strike ignites a fire so fast-moving and so hot that it cannot be suppressed, and the entire financial system burns to the ground.

In discussing our broken healthcare system with a 22-year college graduate, I opined that Obamacare hadn't fixed anything that was broken. She observed that real reform was impossible due to vested interests and the only real solution was to "start over."

Jul 14 05:03

'Word economy is as vulnerable now as it was in 2007 before the crash': Global bank watchdog in warning over soaring debts

The world economy is as vulnerable to a financial crash as it was before the recession hit in 2007, the global bank watchdog has warned.

Soaring levels of government debt in Europe and America and easy loans in the developing world have left the global economy in the danger zone, according to the respected Bank for International Settlements.

A fresh crash could be devastating for Britain -with debt now more than double what it was in 2007, leaving the Government powerless to intervene.

In 2007, Government debt was just 36 per cent of GDP, but has since topped 75 per cent.

Jul 13 23:23

World economy ‘more fragile than before 2007 crash’

The world economy is just as vulnerable to a financial crisis as it was in 2007, with the added danger that debt ratios are now far higher and emerging markets have been drawn into the fire as well, the Bank for International Settlements has warned.

Jul 13 19:53

The Head Of ‘The Central Bank Of The World’ Warns That Another Great Financial Crisis May Be Coming

Most people have never heard of Jaime Caruana even though he is the head of an immensely powerful organization. He has been serving as the General Manager of the Bank for International Settlements since 2009, and he will continue in that role until 2017. The Bank for International Settlements is a rather boring name, and very few people realize that it is at the very core of our centrally-planned global financial system. So when Jaime Caruana speaks, people should listen. And the fact that he recently warned that the global financial system is currently "more fragile" in many ways than it was just prior to the collapse of Lehman Brothers should set off all sorts of alarm bells. Speaking of the financial markets, Caruana ominously declaredthat "it is hard to avoid the sense of a puzzling disconnect between the markets’ buoyancy and underlying economic developments globally" and he noted that "markets can stay irrational longer than you can stay solvent".

Jul 13 18:44

Dumb People Sent a Worthless Stock Soaring. Dumb Machines May Do It Next

Paradoxically, the more Wall Street’s machines become like humans, the more prone they may be to making the same kinds of mistakes humans do. The next tech bubble might not be driven by human stupidity or greed; it might be created by the tech itself.

Jul 13 18:30

Goldman Admits Market 40% Overvalued, Economy Slowing, So... Time To Boost The S&P Target To 2050 From 1900

In sum, after reading such garbage, it is impossible not to feel bad for Wall Street's best paid "strategists" (and certainly those working for the bank that formerly controlled the world): if they have to resort to writing such bullshit, then the end must truly be nigh.

Jul 13 15:17

Silver’s Monetary Rise

Jul 13 14:48

Omens of a Derivatives Meltdown (Part 1)

Jul 13 13:11

Detroiters Put Bodies on the Line to Stop Privatization of Their Water

At 6:45 on Thursday morning, the Reverend Bill Wylie-Kellerman of St. Peter’s Episcopal Church in Detroit sat down with nine othersblocking the entrance of the facility where Homrich Wrecking’s water shutoff trucks were set to leave for the day. By 8 a.m., the “Detroit Water 10” had been charged with disorderly conduct

Jul 13 12:35

Anti-American - New World Loving Mega-Billionaires unite for US immigration reform

Buffet, Gates, and Adelson: Billionaires prod Congress on immigration

Jul 13 11:05

RON PAUL: THE COLLAPSE IS CLOSE

Jul 13 10:37

Gallup Slams Lid On Hopes For US Economy

Jul 13 10:31

Miami-Dade to lose hundreds of police officers in budget crisis — Crime to ensue

AS THE ECONOMIC COLLAPSE OF AMERICA NEARS, CITIES LIKE MIAMI MAY BECOME LAWLESS

Strap up and wait

Jul 13 09:58

In The Internet of Things, YOU Will Be The Key

Nicholas West
Activist Post

The move to give everyone a global unique ID that can be verified across nearly all human activity has been in the works for some time. As you can see by the image at the right, defense contractor, Lockheed Martin, is now a global leader in biometric identification. Comforting.

Naturally, the fear of identity theft and cyber-banking crime of all stripes has been the sales pitch to accept identity tech such as facial recognition, iris scans, and fingerprinting, as well as their attendant databases...

Jul 13 09:44

U.S. spending billions to ‘dig ourselves a bigger climate hole’

NEW REPORT HIGHLIGHTS CONTINUED FOSSIL FUEL SUBSIDIES THAT FOSTER FURTHER CLIMATE CRISIS AT TAXPAYERS’ EXPENSE

Jul 13 09:15

Fat cat bosses getting fatter: Pay rocketed 15% for top 100, report reveals

Bosses of Britain’s biggest firms saw their pay soar by 15% last year, a report has revealed.

The average FTSE 100 chief executive got a £4.72million pay package – taking two days to earn what a typical worker on £26,500 gets in a year.

The figure, up from £4.1million in 2012, includes pay, pension and long-term bonuses that were cashed in last year.

It came as millions of ordinary Britons endured pay freezes or pitiful wage increases.

Jul 13 06:55

The Future Of Americas Shopping Malls In Pictures

And they made a wasteland of America!

(Rocket 24) Hundreds of shopping malls across the U.S. have been forced to shut down following years of debilitating declines in consumer traffic.

In many cases, the shuttered malls are left to decay for years before developers or local governments raise the funds to bulldoze or renovate the space.

Pseudonymous photographer Seph Lawless traveled the country for years to find these forgotten malls and document their decay from the inside.

The photos he captured are haunting and apocalyptic, featuring dead trees and abandoned shopping carts against landscapes of broken glass and crumbling walls.

He compiled the photographs in a new book, “Black Friday: The Collapse of the American Shopping Mall,” and shared some of them with Business Insider.

Jul 13 04:50

The US dollar and the treasury ponzi scheme

Jul 12 16:17

Percentage of Uninsured Americans Lowest Ever

Obamacare’s Dramatic Impact On The Uninsured

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