ECONOMY

Nov 14 16:08

Inequality Now at Lord and Serf Level

Nov 14 14:23

WATCH: Federal Workers Ask Obama for a Raise: Watch Them Make the Case for a $15 Minimum Wage

wait till he gives the illegals amnesty, THEY'LL ALL BE OUT OF WORK

Nov 14 13:31

Last Week Tonight with John Oliver: Predatory Lending (HBO)

Payday loans put a staggering amount of Americans in debt. They prey on the elderly and military service members.

Nov 14 12:53

Bob Murphy: The Fed's Stock Market Casino

Jeff Deist and Robert P. Murphy address the vital topic of Fed interference in financial markets. Are the global equity and bond markets a charade, engineered by monetary expansion and destined to collapse like a house of cards? Is the investing game basically rigged? How can Janet Yellen and financial elites keep markets from crashing without endless new rounds of quantitative easing? Why is understanding Austrian economics necessary, but not sufficient, to be a successful investor? And how would stock markets have a social function in a free society? Anyone interested in investing, personal finance, Austrian economics, and the wit and wisdom of Bob Murphy will enjoy this show.

Nov 14 12:35

Quality, Not Quantity (Unless You’re a Fusion Center, Spending Taxpayer Money)

Nadia Kayyali
Electronic Frontier Foundation

Who pays for government surveillance? Taxpayers. And we should all heed the age-old message: buyer beware. Fusion centers are an excellent example of why...

Nov 14 11:38

House approves Keystone pipeline, setting up final Senate showdown

House lawmakers, in their first major vote since last week’s elections, easily passed a bill to approve the Keystone XL pipeline that would bring crude oil from Canada to the U.S., sending the bill over to the Senate which will have a major showdown Tuesday.

Nov 14 11:21

Italy's Grillo: "We Are Not At War With ISIS Or Russia, We Are At War With The ECB"

Nov 14 11:18

Last Week Tonight with John Oliver: Civil Forfeiture (HBO)

Nov 14 10:23

Wall Street, Banks, and American Foreign Policy

This paper summarizes an outstanding essay written by Murray N. Rothbard in 1984, which appeared the first time in World Market Perspective and later under the same title as a monograph produced by the Center for Libertarian Studies in 1995. It focuses on and reveals the close alliance among politicians, bankers and big enterprises in the United States between 1861 and the middle of the 80ies. It is our conviction that this is a must read for everyone interested in understanding the origin of the actual system we live in today and why our world is developing the way it does. At the end of this short summary, you will find the link to download the whole essay.

Nov 14 10:17

Protests erupt across Italy

Italy hit by strikes and violent demonstrations as anger towards soaring unemployment and economic crisis boils over onto the streets.

Nov 14 09:45

Regulating the Internet threatens entrepreneurial freedom

Never before has it been so easy to turn an idea into a business. With a simple Internet connection, some ingenuity and a lot of hard work, anyone today can create a new service or app or start selling products nationwide.

Nov 14 09:22

Prof Franz Hörmann most brilliant 15 minutes banned ted talk

Franz Hörmann (* 23 March 1960 in Vienna ) is an Austrian economist and associate professor at the Department of Auditing, Trust Accounting and the Vienna University of Economics
https://www.youtube.com/watch?v=NZBRJU6YLtY

Nov 14 09:20

The Bee’s Vanishing Act: Destruction of Honeybee Populations in America

The decline in honeybees is alternately blamed on the unpredictability of flowering by many plants due to climate change, the ravages of the neonicotinoid pesticides introduced in the 1990s, parasitic mites and, more recently, the viruses harbored by these mites. Were it not for several spectacular traffic accidents in 2010 and 2011, we might not have learned about the lucrative business — also started in the 1990’s — of trucking bees in the Spring by the tens of millions, to vast monocultures of fruit trees or plants such as almonds or blueberries grown by agribusiness, from a series of massive industrial hives. Nor would we have considered that the overcrowded industrialized hives represent ideal breeding grounds for parasites. Just as antibiotics are fed to chickens living in overcrowded coops, chemicals are sprayed on bees to extend their survival in the abnormally crowded industrial hives.

Currently one industrial hive costs about $100, but its price in bee misery is inestimable. Examinations of CCD hives have shown most of the insects to be afflicted with multiple infections, as if the parasites are behaving opportunistically on a depressed immune system in the honeybees. Often single insects have been discovered to be simultaneously infected by mites, bacteria, fungi and viruses.

Nov 14 09:19

More Russia sanctions if Ukraine not resolved: Cameron

British Prime Minister David Cameron said existing sanctions imposed by the West were having an impact on Russia's economy.

Ed Note: Yes, they are indeed having an impact, Eton Boy. They are stimulating domestic industrial and agricultural output to an degree not seen before now. Farmers and industrialists couldn't be happier! For the consumer, foreign goods are more expensive, but domestically-produced goods are still the same price. Meanwhile, back in EU-land, economies that were already in danger of stagnating are being dragged down due to the lack of trade with Russia.

Nov 14 09:12

And The Nation That Increased Prosperity The Most In The Last 5 Years Is.

...Rwanda. And the biggest collapse in prosperity since 2009 has occurred in Greece - stunningly outpacing war torn, sanctioned Syria to the downside.

Nov 14 09:10

This Is How Greece Celebrates "Exiting" Its Historic Recession

Greece - it would appear by this morning's GDP print - is now the engine of growth for Europe. Despite near-record unemployment, record suicides and poverty, and an increasing number of Greeks doing unpaid work (or in slavery), GDP rose at the fastest rate across the EU... However, it appears, judging by the protests across Athens today, the people did not get the message that the crisis is over... as police resort to tear gas and stun guns.

Nov 14 09:02

Meet the Pro-Israel Warmongering Billionaires Who Will Spend a Fortune to Influence the Next President

On November 9, the ugly face of America’s money-saturated election process was put on full display.

Sheldon Adelson and Haim Saban, two billionaires with right-wing, pro-Israel agendas, took the stage at the Israeli American Council’s inaugural conference in Washington, D.C. They fantasized about bombing Iran and about buying the New York Times because they said it’s biased against Israel. Both are bound to play an outsized role in the 2016 presidential elections by flooding the campaign with money to support their favored candidates. In a post-Citizens United world, Adelson and Saban are kings, and Israel will be the beneficiary of their largesse if the donors have the ear of a future president.

Nov 14 08:57

Unlike Brits, Americans don't think tax is morally right: "Most Americans think that their moral right to keep the money they earn trumps their duty to contribute towards public services, the exact opposite of attitudes in Britain"

Most Americans think that their moral right to keep the money they earn trumps their duty to contribute towards public services, the exact opposite of attitudes in Britain

Nov 14 08:39

The Precognitively Vibrating Nose Hairs of Nostrildamus

It’s pretty amazing what happens when corporations gain personhood. The transition from person to beast doesn't take very long.

Nov 14 07:53

1 in 3 Chicagoans living paycheck-to-paycheck

One in three Chicago residents can't go more than a month without a paycheck.

Webmaster's Commentary: 

I know the feeling! :(

Nov 14 07:51

Putin "Prepares For Economic War", Buys Whopping 55 Tonnes Of Gold In Q3

Just as China is buying 'cheap' oil with both hands and feet, so Russia, according to the latest data from The World Gold Council (WGC) has been buying gold in huge size. Dwarfing the rest of the world's buying in Q3, Russia added a stunning 55 tonnes to its reserves, as The Telegraph reports, Putin is taking advantage of lower gold prices to pack the vaults of Russia's central bank with bullion as it prepares for the possibility of a long, drawn-out economic war with the West.

Russia bought more gold in Q3 then all other countries combined...

Vladimir Putin's government is understood to be hoarding vast quantities of gold, having tripled stocks to around 1,150 tonnes in the last decade. These reserves could provide the Kremlin with vital firepower to try and offset the sharp declines in the rouble.

Webmaster's Commentary: 

Looking at the Western drum beat on both Russian and Putin demonization, and the the reality that the opening salvos have already rung out in the economic war against it, possibly leading to a shooting war, can you blame Putin or Russia's central bank for having made this move?!?

Nov 14 07:45

Putin: Russian Economy Won't Be Dominated by 'Dollar Dictatorship'

Russia is leaving the dictatorship of the market where oil goods are based on the dollar and won't back down in face of a drastic drop in world prices on energy resources, Russian President Vladimir Putin said Friday.

Russia plans to leave the “dollar dictatorship” of market oil prices and turn to using the country’s national currency and the Chinese yuan, Russian President Vladimir Putin said Friday.

“We are leaving the dictatorship of the market where oil goods are based on the dollar and will increase the possibilities of using [other] national currencies: the ruble and the yuan,” Putin said in an interview with the Russian state news agency TASS.

On a November 9 meeting on the sidelines of the APEC summit Putin and Chinese President Xi Jinping discussed the possibility of using the yuan in transactions in fields of mutual cooperation.

Webmaster's Commentary: 

Methinks that President Obama may have shot himself in both feet by brokering a covert deal with Saudi Arabia to ratchet down oil prices, thus hoping to cripple Russia's oil infrastructure, which is a huge part of its economy.

If, in fact, President Obama does play chess, Putin is 20 moves ahead of him almost every time.

Nov 14 07:41

REPORT: Richest 1% Pay 24% of Federal Taxes

Nov 14 07:40

Ideological Foundations of Mainstream Neoclassical Economics: Class Interests as “Economic Theory”

There is now a widespread consensus that mainstream/neoclassical economists failed miserably to either predict the coming of the 2008 financial implosion, or provide a reasonable explanation when it actually arrived. Not surprisingly, many critics have argued that neoclassical economics has created more confusion than clarification, more obfuscation than elucidation. Economic “science” has, indeed, become “an ideological construct which serves to camouflage and justify the New World Order”

Nov 14 06:59

Homeownership Unaffordable for Most Americans

CHICAGO, Nov. 14, 2014 /PRNewswire/ -- A median-income household can only afford a median-priced home in 10 of the 25 largest U.S. metropolitan areas, according to a new Interest.com report. That's actually an improvement from last year, when the median-income household fell short in all but eight of the 25 metros.

Nov 14 06:48

“Paper Gold” and Its Effect on the Gold Price

By Bud Conrad, Chief Economist
Casey Research

Gold dropped to new lows of $1,130 per ounce last week. This is surprising because it doesn’t square with the fundamentals. China and India continue to exert strong demand on gold, and interest in bullion coins remains high.

I explained in my October article in The Casey Report that the Comex futures market structure allows a few big banks to supply gold to keep its price contained. I call the gold futures market the “paper gold” market because very little gold actually changes hands...

Nov 14 06:39

‘Violent’ stock market crash could be round the corner warns think-tank

A potentially ‘violent’ stock market crash could be on the horizon as financial markets become dangerously stretched, a think-tank has warned.

The Bank of International Settlements said that suspiciously low levels of volatility in the markets seen this year suggest a lack of liquidity that could trip up investors who assume they can dispense of assets when a sell-off begins.

The speech came as the FTSE 100 index suffered another day of losses, dropping 2.8 per cent and mirroring falls across Europe: Greece’s stock market trading was down 9 per cent at one point today.

Guy Debelle of BIS said global investors were buying assets on the misguided presumption of liquidity that does not exist and that in a possible sell-off, volatility and price movements ‘will be exacerbated by the reduced capacity and inventory of market makers’

Webmaster's Commentary: 

One of the mantras which you know well from WHR is, please, don't panic: prepare.

IF there is some kind of massive societal disruption, courtesy of a huge market crash, make sure you have lots of food, potable water (with some form of water filtering) and medications stored for your family and pets.

Make sure you have a plan to protect yourself and those you love, if your home is hit by people who didn't prepare, and are wanting to loot your provisions.

Have some very small units of gold and/or silver under your personal supervision with which to barter, if the dollar suddenly plunges in value.

Have only in your banking account just what you need to pay the bills; keep the rest under your personal control.

Figure out the skills you can barter for goods and services. Find like-minded people in your community willing to help take care of each other, if the excrement suddenly hits the fan.

Figure out what your bug-out procedures need to be, if you need to leave your home suddenly, and how to re-connect with your family should such an event happen.

Folks, these are simply practical ways with which to forestall catastrophe if it comes; I am not a "gloom and doomer" here: just pragmatic. And I would urge all of you to be making the same kinds of preparations

Nov 14 05:56

Obama’s Secret Treaty Would Be The Most Important Step Toward A One World Economic System

Barack Obama is secretly negotiating the largest international trade agreement in history, and the mainstream media in the United States is almost completely ignoring it. If this treaty is adopted, it will be the most important step toward a one world economic system that we have ever seen. The name of this treaty is "the Trans-Pacific Partnership", and the text of the treaty is so closely guarded that not even members of Congress know what is in it. Right now, there are 12 countries that are part of the negotiations: the United States, Canada, Australia, Brunei, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam. These nations have a combined population of 792 million people and account for an astounding 40 percent of the global economy. And it is hoped that the EU, China and India will eventually join as well. This is potentially the most dangerous economic treaty of our lifetimes, and yet there is very little political debate about it in this country.

Webmaster's Commentary: 

Wait, Congress is forbidden to see the treaty?!?

Then, this has to be the "Obamacare for the economy", where Congress is blithely told by some Obamamaniac that they "have to pass the treaty before they can see what is in it?!?"

No President should have this kind of all-pervasive power, period, end of discussion.

Nov 14 02:33

Former WA Senator and Guv Candidate Dino Rossi Caught Lying on Video: "I Didn't Make any Money on Foreclosures!"


Note: Michelle Darnell had no part in the impetus or production of this video and does not approve of this message. I am my own man and I will say what I need to say, when I need to say it. And if anyone has an issue with this they can come to me directly.

Thursday, November 13, 2014

Mortgage Movies Catches Former WA Senator Dino Rossi in a Bald-Faced Lie: "I Didn't Make Money off of Foreclosures."

Dino Rossi is basically Mr. Real Estate in Washington. He's also a figurative unofficial head of the Republican Party in many ways. He is also a liar. Moreover, I wouldn't be surprised if he took banking industry money when he was a Senator in the same or similar fashion as his Democratic buddy Steve Hobbs. I'll get to him later but for now take a look at this Mortgage Movies Journal Entry.

Nov 13 21:32

A Conversation with Gigats

Cyber here.

I was applying for a video editor position with Nintendo, when I was directed to a scam artist after submitting my resume.

I will be making more of these (with added production value as I continue) featuring the various "customer service" calls I am forced to make each week.

Nov 13 20:49

Oil Slumps to 4-year Low as Brent Crashes Below $80 a Barrel

Oil prices slumped more than 3 per cent to four-year lows on Thursday, with benchmark Brent crashing below $80 a barrel, after a stockpile surge at the delivery point for US crude frayed nerves of traders already worried about an oil glut.

The decline compounded Wednesday's losses stemming from comments by Saudi Arabia's oil minister that showed little will by the kingdom to cut output when the Organization of the Petroleum Exporting Countries meets on Nov. 27.

Brent settled down $2.46, or 3.1 per cent, at $77.92 a barrel, after plumbing a September 2010 low of $77.83.

US crude finished down $2.97, or 3.9 per cent, at $74.21.

Nov 13 16:15

'Ireland stupid to guarantee banks' - Timothy Geithner

US President Obama's most senior economic official during the global financial crisis has claimed Ireland was "stupid" to guarantee the banks.

Nov 13 15:47

ISIS Announces New Currency

ISIS is planning to mint its own currency in gold, silver and copper, the group said Thursday.

Nov 13 15:03

Why did FOX Ban this video?

Nov 13 15:03

Lame duck out of the Silk Road caravan

There’s hardly a more graphic illustration of where the multipolar world is going than what just happened at the Asia-Pacific Economic Cooperation (APEC) summit in Beijing.

Take a very good look at the official photos. This is all about positioning – and this being China, pregnant with symbolic meaning. Guess who’s in the place of honor, side by side with President Xi Jinping. And guess where the lame duck leader of the “indispensable nation” has been relegated. The Chinese can also be masters at sending a global message.

Nov 13 14:25

A 2014 Call on the U.S. Dollar

Nov 13 13:38

Rich and powerful touch down for summit

Police Commissioner Ian Stewart has warned the Russians “will be dealt with’’ if they arrive packing guns in Brisbane today for the G20.

Mr Stewart said he had not received any applications from overseas security teams - including the Russians - to carry firearms.

“They mightn’t be carrying guns. They may have recognised that we are a safe country and that there is no risk and they are going to obey our laws.”

Webmaster's Commentary: 

If I were Putin's security detail, I would be very nervous right now about them making such a point of keeping them disarmed! I hope Vlad is wearing his Kevlar undies!

Nov 13 12:19

How the U.S. Government Could End the Student Debt Crisis Today

Instead of loaning students money, the federal government could just pay for their tuition, without causing any significant economic problems.

Last month, Lower Saxony became the final state in Germany to abolish tuition for all students at public universities. Meanwhile, in the United States, student loan debt has passed the $1 trillion mark. The burden is now becoming increasingly heavy for middle-class and wealthy students, but especially for those from lower-income backgrounds. This injustice has spurred many organizations, like the Occupy Wall Street offshoot Strike Debt, to do what they can to pay off student debt on their own.

Webmaster's Commentary: 

In those other nations, they are trying to educate their young people. In the US they are just turning them into debt-slaves and making them think it is all their own fault.

Nov 13 11:38

24% Of Millennials “Expect” Student Loan Forgiveness

It appears the concept of no consequences is now deeply embedded in the American society. As Student loan debtloads surge ever higher – and opportunities grow ever lower – NBC News reports a rather stunning 24% of Millennials said they expect their loans will ultimately be forgiven, according to study released Wednesday by Junior Achievement and PwC US. That helps to explain why delinquency rates are at record highs - aside from the massive debtloads and no high-paying jobs – as students see bankers rigging every market in the world with little to no consequence, one can only imagine the lessons being learned.

Nov 13 11:37

ISIS Unveils Its New Gold-Backed Currency To Remove Itself From “The Oppressors’ Money System”

It appears the rumors are true. Islamic State is set to become the only ‘state’ to back its currency with gold (silver and copper) as it unveils the new coins that will be used in an attempt to solidify its makeshift caliphate.

Webmaster's Commentary: 

"KILL THEM! KILL THEM! KILL THEM ALL! KILL THEM ALL NOW! NOW, NOW, NOW!!!" -- Official White Horse Souse

Nov 13 11:32

BRICS, Eurasian Economic Union (EEU), Shanghai Cooperation Organization (SCO): Towards a New Global Financial Architecture?

According to Conn Hallinan – in his article Move Over, NATO and IMF: Eurasia Is Coming – the BRICS’ construction of a Contingent Reserve Arrangement will give its members emergency access to foreign currency, which might eventually dethrone the dollar as the world’s reserve currency. The creation of a development bank will make it possible to bypass the IMF for balance-of-payment loans, thus avoiding the organization’s onerous austerity requirements.

Nov 13 11:31

How Big Oil Plans to Win Ugly in New York

A PR firm well known for its hardball tactics in defense of Big Tobacco will deliver the keynote address at tonight’s Independent Oil and Gas Association of New York’s (IOGA-NY) annual conference in Buffalo. The same talk titled, “Big Green Radicals: Exposing Environmental Groups,” was presented at the Western Energy Alliance annual meeting in Colorado this summer. Richard Berman, president of the consulting firm Berman and Company, told the audience of oil and gas executives that they were engaged in “an endless war,” and warned that, “You can either win ugly or lose pretty.”

An anti-fracking rally in front of the New York State Assembly in Albany in 2013. Berman and Company’s strategy fails to recognize that long before celebrities were touring gas fields, local landowners, farmers, and activists had already started asking questions about the merits of fracking.

Nov 13 10:21

Republican Politicians Are Fighting Net Neutrality, but Their Constituents Support It

On Monday, President Obama came out in strong support of net neutrality and advised the FCC to reclassify Internet service as a utility under Title II of the Telecommunications Act. Later that day, FCC Chairman Tom Wheeler, an Obama appointee and former cable/telecom lobbyist, met with tech company representatives to say that he did not plan to follow all of the president’s proposals. Sounds about right.

Nov 13 10:14

President Putin Pledges to Increase Trade with China and Asia to Rebuke Sanctions

Webmaster's Commentary: 

Obama faces an impossible task at APEC and the G-20. Russia has products other nations want to buy, while all Obama has to offer is speeches and dubious promises.

Nov 13 09:48

Sheldon Adelson's Dismissal of Israeli Democracy Draws Silence From Groups He Backs

Recipients of casino billionaire Sheldon Adelson’s largesse are dodging questions about his latest salvo against Israeli democracy.

Adelson, a leading Republican donor, has long stood out among American Jews for his conservative views. He may have stepped farther outside of the American Jewish mainstream than ever before, however, in statements at a conference in Washington on November 9 in which he seemed to write off Israel as a democratic state.

“I don’t think the Bible says anything about democracy,” Adelson said. “[God] didn’t talk about Israel remaining as a democratic state… Israel isn’t going to be a democratic state — so what?”

While Anti-Defamation League national president Abraham Foxman has slammed Adelson’s remarks, leaders of groups that have taken money from Adelson have not responded to requests to address his statements.

Webmaster's Commentary: 

Abe Foxman said something I agree with? What IS the world coming to?!?

Nov 13 09:10

Charity: 25,000 UK pensioners to die in winter

A report says that a pensioner will die from cold weather every seven minutes in Britain this winter, amid soaring fuel bills.

The Age UK charity released the report on Tuesday, saying that, this winter, 25,000 elderly people in England and Wales will die as a result of the cold weather and due to high fuel costs and poorly insulated homes.

Nov 13 08:57

Foreclosure filings climb 15% in October

The pace of new foreclosures picked up last month as more troubled properties were pushed through the system, according to data released Thursday.

In October, there were default notices and other foreclosure filings reported on more than 123,000 U.S. homes, up 15% from September — the largest monthly growth since foreclosure activity peaked in early 2010, online foreclosure marketplace RealtyTrac reported.

Nov 13 08:40

CNBC's Pisani - Seeing Real Moves In Gold

Nov 13 08:23

Windows 8: Why Microsoft's giant gamble didn't pay off

In many ways, analysts say, Windows 8 didn't bridge the divide between tablets and PCs so much as fall into the chasm between them.

Nov 13 08:07

'A Crime': Groups Say Detroit Bankruptcy Plan Benefits Rich, Attacks Working People

A group of Detroit residents is condemning the city's newly-approved restructuring plan to exit bankruptcy as a deal that will further benefit the wealthy and corporate class while hurting working people.

Webmaster's Commentary: 

Did you ever think it was going to be any other way?

Nov 13 08:00

HHS Chief: Obamacare for DREAMers

Nov 13 07:58

EU must cease "material support" for Israel’s crimes, say leading trade unions

More than 300 political parties, trade unions and campaign groups have called for the suspension of a key agreement between Israel and the European Union.

The appeal urges the EU to freeze the “association agreement” with Israel. That deal, which entered into force in 2000, facilitates largely unrestricted trade between the EU and Israel and allows Israel to participate in a wide range of the Union’s programs.

Webmaster's Commentary: 

So the EU is as much a sell-out to Israel as the US is. Imagine my shock.

Nov 13 07:47

Alan Greenspan: Gold is Stronger Than US Dollar

Speaking on a chapter dedicated to gold in his new book, Alan Greenspan said, “gold is the premier currency where no fiat, including the dollar, can match it.”

As Chairman of the Federal Reserve System from 1987-2006, Greenspan enacted an inflationary policy that defined the era with economic bubbles. His recent comments indicate he’s learned a lesson from those bubbles bursting.

Or did he re-learn the lesson? On multiple occasions, Ron Paul has raised the fact that Greenspan wrote an essay praising gold as money back in 1966. In that essay, Greenspan wrote:

In the absence of the gold standard, there is no way to protect savings from confiscation through inflation.

He went on…

This is the shabby secret of the welfare statists’ tirades against gold. Deficit spending is simply a scheme for the confiscation of wealth. Gold stands in the way of this insidious process.

The old Greenspan is back! Now, if he’d just push for an audit…

Nov 13 07:02

Obama’s Secret Treaty Would Be The Most Important Step Toward A One World Economic System

Barack Obama is secretly negotiating the largest international trade agreement in history, and the mainstream media in the United States is almost completely ignoring it. If this treaty is adopted, it will be the most important step toward a one world economic system that we have ever seen.

Nov 12 18:21

U.S. Companies Now Stashing $2 Trillion Overseas. That total is now greater than the amount held on U.S. shores.

US companies are for the first time holding more than $2 trillion overseas, according to an analysis that paints a bleak picture of whether that money will make its way home and the limited economic impact it would have even if it does.

Nov 12 17:53

Civil Forfeiture Seminar Gurus Teach Cops to Dream Big

Seminars on how to police for profit?!

Nov 12 17:34

PRIMARY SILVER MINERS: Losing Nearly $3.00 For Every Ounce Of Production

With more than half of the primary silver miners financial results for the third quarter finally out, the group is now losing nearly $3.00 an ounce at the current market price of silver. We can thank the Fed and Bullion Banks for rigging the paper silver price well below the estimated average break-even for the primary silver miners.

Nov 12 16:39

Forex misconduct, the transcripts....

Nov 12 15:47

QE4? “They’ll have to.”

Nov 12 14:48

Forbes - "America is done."

Nov 12 14:46

Fed Is Way Behind the Eight Ball: Grossman

Nov 12 14:17

Caesars weighs layoffs, but Strip might be spared

Caesars Entertainment Corp. expects to create an extra $250 million to $300 million in cash flow in 2015 through various cost-savings measures.

Much of the cash flow increase could come through cost savings, such as layoffs and other measures at the company, which operates nearly 40 casinos in 15 U.S. states and Canadian provinces.

But one analyst speculated that very few of the cutbacks would come from Caesars’ nine resorts on or near the Strip.

Caesars is seeking to reduced its gaming industry-high $22.8 billion in long-term debt. The company has held private talks with its banks and lenders since September.

Webmaster's Commentary: 

Americans do not have money to play with these days. Coupled with online gambling for the people not interested in the topless reviews, it seems Vegas (and Sheldon Adelson) have hit hard times!

Nov 12 13:37

PENALTY FOR UNINSURED NOT SIGNING UP FOR OBAMACARE TO MORE THAN TRIPLE

Americans will see their bank accounts shrink if they don’t sign up for Obamacare in its second enrollment season. Uninsured Americans who decide not to enroll will face a penalty of $325 per person, more than tripling the $95 penalty those who did not enroll had to pay the first time around.

Nov 12 13:29

'Evil Stick' wand toy for toddlers reveals picture of a young girl slitting her wrists with knife

Wand, dubbed 'Evil Stick', promises 'wonderful music', magic and fairies
But underneath silver foil, it shows image of girl slitting wrists with knife Available from dollar store, it also emits cackling laugh and flashing lights 'I'm outraged,' said Nicole Allen, who purchased toy for her daughter, two Store's owner said it was parents' responsibility to read the wand's label He added that he believed the product was appropriate for older children 'For a five, six, seven, 10-year-old, I mean they see that on TV everyday'.

Webmaster's Commentary: 

And JUST in time for Christmas!!!!!

Nov 12 13:09

White House Fail: Obamacare in a ‘Death Spiral’

It’s been riddled with problems from the beginning. It was sold to the people as ‘Universal Healthcare’, only it’s not even close. Obamacare may end up being D.O.A after all...

Nov 12 13:08

The Obama Administration.... Standing Up For Poor and Working People Since... Never

In warehouses and in retail, wage stealing by bosses, forcing people to work off the clock, and compelling them to wait in half hour long lines without pay for exit security checks are shockingly commonplace practice. Though all are pretty much illegal, and according to economist Dr. Richard Wolff, the amount corporate employers steal from the wages of workers year is roughly three times the monetary value of all the nation's armed robberies, state and federal prosecutors rarely bother to investigate or indict.

Nov 12 12:29

Matt Taibbi on JPMorgan Chase’s worst nightmare

The attention that Taibbi is receiving for the Rolling Stone essay, The $9 Billion Witness: Meet JPMorgan Chase’s Worst Nightmare,

Nov 12 12:18

Russia To Have SWIFT Alternative By May

In the past, western sanctioners have sabre-rattled cutting off Russian from SWIFT - the international inter-bank payment system - as a next step in squeezing the oligarchs into submission (though 'independent' SWIFT distanced itself from those calls). Now however, as RT reports, Russia intends to have its own international inter-bank system up and running by May 2015. The Central of Russia says it needs to speed up preparations for its version of SWIFT in case of possible ”challenges” from the West. If successful, this would pose a further challenge to the USD's reign as sanction blowback reverberates once again.

Nov 12 12:10

Caught Rigging FX and Gold? Your Punishment Will Be A Bonus Capped At Just 200% Of Your Base Salary

but cutting to the chase, here is the punishment:

FINMA has also instructed UBS to limit bonuses for traders of foreign exchange and precious metals to 200 percent of their base salary for two years.

Which means that clearly nobody is going to jail, however the punishment is far more harsh: riggers will have a bonus of ONLY 200% their base salary for two years to look forward to!

The horror, the horror.

Nov 12 12:04

All Wars Are Bankers' Wars - FULL version plus downloads.

Webmaster's Commentary: 

UPDATE: I am reposting this because I have started receiving emails from readers/listeners who report they are overhearing other people talk about this article and video. So the word is getting out and people are waking up to the real reasons we are at war; the money-junkies. Please share this with everyone who is not already aware of this article and video (and there is a larger video in production now).

Facebook is still blocking the original version of the video "All Wars Are Bankers' Wars", but someone uploaded a new copy and this particular URL is not yet being blocked by Facebook.

Meanwhile, I have placed copies of the video for you to download on my server for you to post as you see fit.

Quicktime (967 meg)

MP4 (152 meg)

Please note that these videos will be shut off automatically during times of excessive server load.

Nov 12 12:03

CRAZY... The S&P never pulls back!!!

Nov 12 10:56

New shame as British banks among five fined £2 BILLION for rigging foreign exchange market

After investigators discovered that traders from Royal Bank of Scotland and HSBC were fixing rates on the £3trillion-a-day market, the banks were slapped with huge fines.

American-based Citibank and JP Morgan Chase, as well as Swiss-based UBS, were the other banks to be punished by regulators.

Barclays is expected to reach a similar settlement, but announced that it would not be doing so at this time.

Penalties totalling a record £1.1 billion were handed out by Britain's Financial Conduct Authority (FCA) and $1.5billion (£927million) by US authorities.

The probe found that traders from different firms formed groups using code names such as "the 3 musketeers" and "the A-team" to manipulate currency exchange rates.

This resulted in profits for the banks at the expense of clients.

Nov 12 10:50

"The Fed Distorts Everything" | Jeff Deist

Nov 12 10:48

Banks fined £2.7bn after currency rigging investigation

Six banks have been fined more than £2.7bn by authorities on both sides of the Atlantic after failing to stop their employees rigging the currency markets at the expense of customers.

Royal Bank of Scotland (RBS), HSBC, UBS, JPMorgan, Bank of America Merrill Lynch and Citibank were all fined hundreds of millions of pounds on Wednesday following lengthy investigations into the $5.3 trillion (£3.3 trillion)-a-day foreign exchange markets.

The scandal has seen scores of traders dismissed or suspended for colluding to manipulate foreign exchange rates in order to manufacture profits, and has even embroiled the Bank of England.

On Wednesday, the Bank said it had dismissed its chief currency dealer following its own investigation into the foreign exchange market, which found that he had failed to report serious concerns to superiors.

Nov 12 10:45

Obamacare Designed as a Scam

A willfully designed scam. A rationing scheme boon to predatory providers.

Enriching insurers, drug companies and large hospital chains. At the expense of universal affordable coverage.

Market-based for maximum profits. Letting providers escalate prices. Regulatory light. Loopholes let profiteers game the system.

Benefitting at the expense of ripped-off consumers. Leaving millions uninsured. Most others way underinsured.

A healthcare disaster. Unaffordable for most people. Providing inadequate protection.

Forcing millions to pay 40% or more out-of-pocket. For co-pays and deductibles. On top of costly premiums. Rising annually.

Double the cost of other developed countries. During protracted Main Street Depression conditions.

Webmaster's Commentary: 

And those are the GOOD points! :)

Nov 12 10:09

The Fall of U.S. Fracking?

The U.S. oil industry has taken a beating from the recent drop in oil prices, which have plunged more than 25% since the summer.

Oil and oil service stocks across the board have been bruised… but none more so than those related to the fracking industry.

You see, fracking is an expensive process compared to conventional oil extraction techniques – a situation that became grave three weeks ago, when Saudi Arabia decided to try to run U.S. oil out of business by dropping the price of its crude oil.

Now, it looks like fracking may be the first casualty in this worldwide oil war.

Nov 12 10:05

Big Banks Busted Massively Manipulating Foreign Exchange, Precious Metals and Every Other Market

Regulators fined six major banks including Citigroup (C.N) and UBS (UBSN.VX) a total of $4.3 billion for failing to stop traders from trying to manipulate the foreign exchange market, following a year-long global investigation.

HSBC (HSBA.L), Royal Bank of Scotland (RBS.L), JP Morgan (JPM.N) and Bank of America (BAC.N) also face penalties resulting from the inquiry that has put the largely unregulated $5 trillion-a-day market on a tighter leash, accelerated the push to automate trading and ensnared the Bank of England.

Nov 12 09:44

The federal government is about to put $100 million behind a simple idea: doubling the value of SNAP benefits — what used to be called food stamps — when people use them to buy local fruits and vegetables.

This idea did not start on Capitol Hill. It began as a local innovation at a few farmers' markets. But it proved remarkably popular and spread across the country.

Nov 12 09:40

University of Pennsylvania Deletes, Reinstates Obamacare Architect Video After Backlash

A video of Obamacare architect Jonathan Gruber saying a “lack of transparency” was crucial in fooling ‘stupid Americans’ which caused controversy was subsequently deleted by the University of Pennsylvania only to be reinstated after a backlash.

Webmaster's Commentary: 
Nov 12 09:36

The BamboozleCare Rollout

Webmaster's Commentary: 

"Lying to the American people and treating them like are idiots is a GOOD thing!" -- Official White Horse Souse

Nov 12 09:34

Big Banks Busted Massively Manipulating Foreign Exchange, Precious Metals … And Every Other Market

Regulators fined six major banks including Citigroup (C.N) and UBS (UBSN.VX) a total of $4.3 billion for failing to stop traders from trying to manipulate the foreign exchange market, following a year-long global investigation.

HSBC (HSBA.L), Royal Bank of Scotland (RBS.L), JP Morgan (JPM.N) and Bank of America (BAC.N) also face penalties resulting from the inquiry that has put the largely unregulated $5 trillion-a-day market on a tighter leash, accelerated the push to automate trading and ensnared the Bank of England.

In the latest scandal to hit the financial services industry, dealers shared confidential information about client orders and coordinated trades to make money from a foreign exchange benchmark used by asset managers and corporate treasurers to value their holdings. Dozens of traders have been fired or suspended.

Nov 12 09:07

Matt Taibbi on JPMorgan Chase's Worst Nightmare

The attention that Matt Taibbi is receiving for the Rolling Stone essay, The $9 Billion Witness: Meet JPMorgan Chase's Worst Nightmare, may push forward a serious debate on the systemic corruption that is common knowledge among informed observers of the financial structure.

Zero Hedge can always be depended upon to incisively sum up the issue...

In reality, there is nothing surprising in Matt Taibbi's latest piece since returning to Rolling Stone from the Intercept, as it tells a story everyone is by now is all too familiar with: a former bank employee (in this case Alayne Fleischmann) who was a worker in a bank's (in this case JPM) mortgage operations group, where she observed and engaged in what she describes as "massive criminal securities fraud" and who was fired after trying to bring the attention of those above her to said "criminal" activity.

Webmaster's Commentary: 

The question for me is, when do people who break the law doing these kinds of manipulations actually wind up going to prison, and not to a "Club Fed" ?!?!?

Because unless and until people who do this are convicted and jailed for it, big-time, these practices will continue, unabated.

Nov 12 08:58

In Spotlight: Bad Banks & British Pound

In the spotlight today was not only Mr. British Pound but also the major banks in the US, UK and Switzerland as well, as they face billions in forex fines. Who does this penalty money go to? Not the traders I bet!

Nov 12 08:20

What China-Japan APEC Talks Could Mean for Investors

Yet it’s clear the country that gave us spectacular double-digit gross domestic product (GDP) growth for years is now struggling. The Chinese economy has already seen its growth slow, coming in at 7.3% in the third quarter, the slowest pace since 2008. And it isnow threatening to fall short of the 7.5% target set by the government. At this point, it doesn’t look like the target will be met. In fact, there are whispers that the target could be cut to seven percent in 2015 if the global economy doesn’t experience a stronger recovery.

Pundits and China bears have been calling for the great collapse of China, specifically in the real estate and financial spaces. Yes, there is softness here, but we have yet to see a bigger crack form. You can bet the Chinese government will do whatever is necessary to reinforce its economy’s weak points. And China can definitely do this, given the fact that the country has about $3.0 trillion in reserves.

Webmaster's Commentary: 

Left unsaid is that China's former growth was powered in large part by exported to the US. But the American consumers are not buying anything from China or anywhere else; their wealth having been stripped away by the war economy and Wall Street money-junkies. This is an inevitable downside to globalism. When one nation starts to fail (the US) it drags down the rest of the world with it.

Nov 12 08:07

'How can I make free money with no f****** heads up?': Bankers' banter while they rigged foreign exchange markets revealed as five of world's biggest banks are fined record £2BILLION

The bankers, who called themselves as the 'A-Team', 'Three Musketeers' and 'The Players', colluded online by sharing sensitive information to make millions for their banks and bag big bonuses themselves.

Other messages reveal how the cartel feared being caught, telling eachother on forums: 'Don’t want other numpty’s in mkt to know... is he gonna protect us like we protect each other?'

In a single rigged deal which made Swiss bank UBS £322,000 ($513,000) one message read: 'He's sat back in his chair, feet on desk, announcing, that's why I got the bonus pool. Made most people's year'.

Other message board threads read: 'How can I make free money with no f****** heads up? and later: 'cheers for saying you were same way helped me go early'.

Nov 12 07:39

The Economic End Game Explained

Brandon Smith
Activist Post

Throughout history, in most cases of economic collapse the societies in question believed they were financially invincible just before their disastrous fall. Rarely does anyone see the edge of the cliff or even the bottom of the abyss before it has swallowed a nation whole. This lack of foresight, however, is not entirely the fault of the public. It is, rather, a consequence caused by the manipulation of the fundamental information available to the public by governments and social gatekeepers.

In the years leading up to the Great Depression, numerous mainstream “experts” and politicians were quick to discount the idea of economic collapse, and most people were more than ready to believe them. Equities markets were, of course, the primary tool used to falsely elicit popular optimism. When markets rose, even in spite of other very negative fiscal indicators, the masses were satisfied...

Nov 12 07:27

24 Reasons Why Millennials Are Screaming Mad About Our Unfair Economy

Do you want to know why Millennials seem so angry? We promised them that if they worked hard, stayed out of trouble and got good grades that they would be able to achieve the “American Dream”.

Nov 11 19:04

Dollar Collapse? World Bank Whistleblower Predicts Global Currency

Waking Times

According to World Bank whistleblower Karen Hudes, the US dollar is set to crash and will be replaced with a new, interest free, gold-backed currency.

Nov 11 16:31

Billionaire U-M alum files bankruptcy after being ordered to pay up to $455M for offshore fraud scheme

A Dallas-based, 1957 University of Michigan alumnus has filed for bankruptcy after he was ordered by the Securities and Exchange Commission to pay anywhere from $200 million to $455 million for his involvement in a massive offshore fraud scheme that netted him and his brother more than $550 million.

U.S. District Judge Shira Scheindlin ruled in September that U-M alumnus and billionaire Sam Wyly and his late brother Charles Wyly Jr. were involved in a 13-year fraud in which the two created 17 trusts and 40 subsidiary companies before hiring a team of lawyers and an offshore accountant to hold records outside the United States.

The SEC ruled that Sam Wyly was responsible for two-thirds of the amount owed, while his brother's estate was responsible for the remainder.

Nov 11 16:19

For Armistice Day, Ron Paul on the Federal Reserve’s Role in Financing US Militarism

On this Armistice Day, taking place in the week after midterm elections that promise to buttress US foreign intervention and President Barack Obama’s announcement that he is sending 1,500 troops and desires $5.6 billion more in spending to escalate the war in Iraq and Syria, it seems fitting to consider Ron Paul’s explanation of how the Federal Reserve has helped finance US militarism.

Nov 11 16:05

ECB Has Done All It Can: FXPro’s Smith

Nov 11 15:50

U.S. Household Incomes Are at 1990s Levels

Nov 11 14:24

Why the American Empire Was Destined to Collapse

Several years after the Wall Street-ignited crisis, the nation’s top bank CEOs (who far out-accumulated their European and other international counterparts) continue to hobnob with the president at campaign dinners where each plate costs more than one out of four US households make in a year. Financial bigwigs lead their affluent lives, unaffected, unremorseful, and unindicted for wreaking havoc on the nation. Why? Because they won. They hustled better. They are living the American Dream.

Nov 11 13:53

KISSINGER CALLS U.S. MEDDLING IN UKRAINE 'FATAL MISTAKE'

Former US Secretary of State Henry Kissinger has given a chilling assessment of a new geopolitical situation taking shape amid the Ukrainian crisis, warning of a possible new Cold War and calling the West's approach to the crisis a "fatal mistake."

Nov 11 13:11

Would You Accept a 2-Sixpack Possession Limit For Alcohol?

Eric Blair
Activist Post

Marijuana legalization activists used to be viewed as rebels. Now, because of its apparently inevitable legalization, the topic is sort of boring. And that's mostly a good thing, but some people who support legalization seem to be missing the point.

Since the comparison "safer than alcohol" convinced many of you fence-sitters to support cannabis legalization, I ask you: would you support limits on how much alcohol a person could possess?...

Nov 11 12:55

DOES HISTORY MATTER?

Nov 11 12:41

Where Does Our Oil Come From?

Nov 11 12:11

Supply-chain suffers as oil majors battle price plunge

Belt-tightening by big energy majors faced with plunging oil prices is battering the finances and share prices of their suppliers, as investors reassess the sector’s ability to keep gushing cash.

A growing list of delayed or canceled projects, seen by some investors as a healthy move by majors to rein in capital spend after a poor history of returns is
working its way through corporate earnings; it has already pummelled the share price of some European suppliers seen as financially fragile.

Nov 11 12:10

China hoarding gold to challenge U.S. dollar

In a world filled with fiat currencies, how important is gold’s role in the financial system? Proponents often view the precious metal as a hedge against economic chaos, while critics typically claim gold is hardly more than an unproductive rock. Interestingly, some countries appear to believe gold is quite important, and one former Fed chair explains why.

Alan Greenspan, who served at the helm of the Federal Reserve for nearly two decades, recently penned an op-ed for the Council on Foreign Relations discussing gold and its possible role in China, the world’s second-largest economy. He notes that if China converted only a “relatively modest part of its $4 trillion foreign exchange reserves into gold, the country’s currency could take on unexpected strength in today’s international financial system.”

Nov 11 10:25

“The G-20 Financial Massacre”, Instability in Major Currency Markets?

Very “quietly” the world’s 20 largest economies will meet in Brisbane, Australia later this coming week. I use the word “quietly” because here in the U.S. almost no mention of the upcoming meeting has been made. I even searched for news on the event and almost could find none. Strange?

Nov 11 09:22

NHS England: Where's the money going?

The new NHS is big on transparency. Tim Kelsey, the senior official overseeing care.data and all things digital in the NHS yesterday announced that transparency is “the most important innovation in health”, adding rather dramatically: “The closed world is the enemy of good care." Jeremy Hunt has said greater openness makes the NHS ‘safer for patients’.

NHS England chief, Simon Stevens, has gone as far as claiming that NHS England “has set new standards for openness and transparency in all of its operations, compared with what went before.”

SHARE THIS ARTICLE WITH YOUR SOCIAL MEDIA