Oct 01 06:51

U.S. massive aid to Israel must stop: My Word

A Sept. 21 My Word column criticized a billboard by our organization announcing: "$10 million a day to Israel? Our money is needed in America!" ("Anti-Israel billboards mislead drivers").

The commentary was by Hava L. Holzhauer, the Florida regional director of the Anti-Defamation League, which frequently expends some of its nearly $100 million endowment advocating for Israel.

U.S. politicians from both parties have given more of our money to Israel than to any other nation, thanks to the multibillion-dollar pro-Israel lobby. In fact, the U.S. historically has given more aid to Israel than to all of sub-Saharan Africa and Latin America combined.

Oct 01 06:31

The Great Illinois Gold Rush!

Illinois (like many other states) is facing an ugly financial future. Illinois can’t “print” money to pay their bills so eventually horrible adjustments will be made. Sovereign nations such as the US, Japan, and the UK can “print” their currencies until others refuse to accept payment in those currencies. This delays, but does not eliminate, the inevitable consequences and implosion.

Sep 30 19:57

The Financial-Industrial Revolution's Origin and Destiny

The financial revolution in England over 300 years ago overcame these limitations by vastly expanding the scope and function of credit. It established a credit system independent of savings and current resources, and it did so by institutionalizing the process of creating money “out of thin air.”

It takes a little history to understand this financial revolution—history that is not taught in our schools.

It was the goldsmiths in seventeenth century London that took the first step. Clients deposited gold with them for safekeeping, receiving in turn certificates of redemption. The goldsmiths discovered that only a few clients were likely to redeem their deposits at any given time. This allowed them to issue more certificates (as loans) than they actually had gold on hand to redeem them.

Sep 30 18:42

6 Out Of 6 Fed Surveys Say US Is In Recession… Credit Crashes Most In 4 Years… For The First Time During This Business Cycle, The US Hasn’t Added A Single Manufacturing Job This Year

For the first time since 2009, all six major Fed regional activity surveys are in contraction territory. So, time to hike rates?

Sep 30 16:59

Never Mistake Copper For Gold

Sep 30 15:32

In the hole: Report finds states hiding $1.3 trillion in debt

Much is made of the federal government’s debt, but what about debt at the state level? It may not have reached such eye-poppingly high figures, but it’s still a matter of concern. In its sixth annual Financial State of the States report, the nonpartisan accounting group Truth in Accounting (TIA) took a full account of government assets and liabilities. It found that even though many states claim to have balanced budgets, state governments have in fact accumulated a combined debt of $1.3 trillion.

“As a CPA looking at government finances, I found they were not being truthful and transparent about their financial condition,” Sheila Weinberg, founder of TIA, told “For years, citizens have been told that their home state budgets have been balanced. If that were true, state debt would be zero and Taxpayer Burden would simply not exist.”

Sep 30 15:24


Sep 30 15:04

World banking explained in less than 2 minutes

Sep 30 15:02

Berger: Why I am shorting the Nasdaq 100

Sep 30 14:51

Leaked Audio: Hillary Clinton Calls at Private Fundraiser for Infrastructure Bank to Resemble Clinton Global Initiative

Hillary Clinton told donors at a private fundraiser in New York last Thursday that she plans as president to create a “national infrastructure bank” modeled on the Clinton Global Initiative, according to a recording of her remarks obtained by the Washington Free Beacon.

Sep 30 14:43

Obama, Pope, UN: con artists together

By Jon Rappoport

“In March, Mr. Obama submitted a plan to the United Nations detailing how the United States would meet its target [on reducing global warming]. It said it would do so chiefly through enactment of Environmental Protection Agency regulations on emissions from cars, trucks and power plants.” (New York Times, “Global Climate Pact Gains Momentum as China, U.S. and Brazil Detail Plans,” 6/30/15)

Translation of the above quote: Obama will bypass Congress and make global warming decisions for the future of America through executive fiat.

Poverty, hunger, climate change. Solving these problems is the announced objective, tying together Obama, the Pope, and the UN.

A moment’s reflection reveals the absurdity of their high-flying rhetoric...

Sep 30 14:28

This Is For The “Nothing Is Happening” Crowd

A lot of people out there expected something to happen in September that did not ultimately happen. There were all kinds of wild theories floating around, and many of them had no basis in reality whatsoever. But without a doubt, some very important things did happen in September.

Sep 30 14:15

Keiser Report: Cryptocurrencies & Online economy

In this episode of the Keiser Report, Max Keiser and Stacy Herbert discuss the days of rage and killer cereal as apps and ponzis are the only avenue to wealth.

Sep 30 12:43

U.S. Federal Reserve Bank: Holdup Men

More and more, right round the world, common people are being bilked out of their life's savings; in many cases their retirement nests have been outright confiscated by the state and their willing accomplices: big banks. In recent times Cyprus is a 'prime' example. The bandits weren't even masked; they didn't brandish pistolas either; didn't need to. States side the perpetrators use covert means; but the theft is totally legal. Under the U.S. Federal Reserve System's fractional reserves member banks 'transfer' the bulk of Americans' hard earned dollars 'for deposit' with the Central Bank. Once inside Teflon bankers are at total liberty as to what they can do (gamble) with the customers' deposits. In every day parlance, that means: green light. Let the largesse begin! Only capricious money changers need apply for loans. Mama Mia! Such mendacity! Better than the Cypriot Job! But that was yesterday. Small potatoes! There's much more to this.

Sep 30 11:57


Sep 30 11:52

199 Days: Treasury Says Debt Has Been Frozen at $18,112,975,000,000

Treasury Secretary says Treasury could continue in a “debt issuance suspension period” through at least the end of October

Sep 30 11:52

BRICS foreign ministers call for unblocking IMF reform — Russian Foreign Ministry

"The ministers discussed the current condition of the global economy and finance," the Russian Foreign Ministry said. "They recognized the considerable contribution of the BRICS countries to the global economy and voiced the full certainty their economic cooperation has good prospects. They also underscored the importance of resolute and effective actions for the purpose of speeding up global growth." The BRICS countries "reaffirmed the need for unblocking the reform of the IMF as a measure to reform the system of global economic development in line with the interests and requirements of the developing countries," the statement runs. "The foreign ministers underlined the importance of tighter economic, financial and trading cooperation, in particular, through policy coordination and timely implementation of the BRICS economic partnership strategy and full format operation of the newly-established Development Bank and the African regional centre.

Sep 30 11:31

Corbyn: Tory austerity failed approach

UK Labour Party leader has slammed the Tory government’s austerity policy, calling it “the failed approach of the past.”

Sep 30 11:27

YAY! The RICH are RICHER than ever!

America’s top 400 billionaires are now richer than ever, boasting a record-smashing combined wealth of $2.34trillion, up $50billion from a year ago, according to the latest issue of Forbes Magazine.

Sep 30 10:31

Nearly 100,000 children in England homeless

A new study reveals a rise in homeless children in England with nearly 100,000 now living in temporary accommodations.

Sep 30 10:30

Obama’s Syria

Ending Syria’s horrific civil war is possible, but the political will to do so remains elusive.

Over the years the facts on the ground have changed in Syria – with the rise of the Islamic State being the deadliest new reality. But Washington and its regional allies remain focused on an illegal regime change in Damascus. The west is fighting the wrong war and will surely lose the peace.

Sep 30 10:10

Regime Change as American as Apple Pie

US President Barack Obama is someone to almost pity. For he has the unenviable task of standing before the nations of the world and smugly spout endless falsehoods — as he did, yet again, during his address to the UN General Assembly.

Clandestine American-led interventions have fuelled the explosion in terror networks across the Middle East, Central Asia and Africa. Yet amid this American legacy of international violence, Obama was charged with painting a rose-tinted view of the world that was breath-taking in its distortion and absurdity.

Sep 30 09:55

State Rep. Says General Electric Told Him to Lie About Ex-Im Bank

A General Electric employee pressed a Wisconsin legislator to falsely blame the closing of a facility there on the expiration of federal subsidies, the legislator said this week.

State Rep. Scott Allen said in a Monday statement that GE government relations executive Patrick Theisen asked Allen to blame the closing of a Waukesha engine manufacturing facility on the recent expiration of the U.S. Export-Import Bank.

“Mr. Theisen was eager to connect me with his public relations department to help me gin up a press release blaming Congress and demanding they act,” Allen said.

According to the Republican legislator, who represents portions of Waukesha and other suburbs west of Milwaukee, Theisen admitted that that explanation was a lie.

Sep 30 09:02

Raytheon: Ho hum, another day, another $1bn cyber-security contract with Uncle Sam

Defense contractor Raytheon said it will be providing IT security for more than 100 US government agencies in a deal valued at upwards of $1bn.

Raytheon said the billion-dollar contract, reportedly set to run for five to seven years, will include development and support of cybersecurity protections for the Department of Homeland Security (DHS) and all of the federal agencies under its umbrella.

Sep 30 08:06

The Coming Fall Of The House Of Saud (and the Death of the Petrodollar)

In this week’s podcast, Jerry Robinson explores the ramifications of an economic and political collapse of Saudi Arabia and what it would mean for the crumbling petrodollar system.

Sep 30 07:56

The Impending Financial Crisis That Will Rock The Petrodollar

With tensions growing in the palace halls, anger rising among the Saudi population, and a growing deficit to boot with no relief in sight, trouble appears to be brewing for the Saudi kingdom... Which means trouble for the crumbling petrodollar.

Sep 30 07:40

Media: Central Bankers Have a Special New Excrement Sandwich and You Are Going to Love It!

Central bankers are now planning to confiscate money from depositors and the media reports this as a bold innovation that will help the economy.

Sep 30 06:38

Sweden shifting to a 6-hour work day

Sep 29 18:27

This Is For The ‘Nothing Is Happening’ Crowd…

A lot of people out there expected something to happen in September that did not ultimately happen. There were all kinds of wild theories floating around, and many of them had no basis in reality whatsoever. But without a doubt, some very important things did happen in September.

Sep 29 17:56

BofA Issues Dramatic Junk Bond Meltdown Warning: This "Train Wreck Is Accelerating"

The idea of course is that low rates have i) sent investors on a never-ending hunt for yield, and ii) encouraged corporate management teams to take advantage of the market’s insatiable appetite for new issuance on the way to plowing the proceeds from debt sales into EPS-inflating buybacks. The proliferation of ETFs has effectively supercharged this by channeling more and more retail money into corners of the bond market where it might normally have never gone.

Of course this all comes at the expense of corporate balance sheets and because wide open capital markets have helped otherwise insolvent companies (such as US drillers) remain in business where they might normally have failed, what you have is a legion of heavily indebted HY zombie companies, lumbering around on the back of cheap credit, easy money, and naive equity investors who snap up secondaries.

Sep 29 17:49

Did You Miss This One? I Did. More On Debt.

Sep 29 15:38

7 Bullish Gold Indicators

Sep 29 15:30

Instead of Shaming the Poor, Let’s Raise the Minimum Wage

Yesterday I joined Fox and Friends for what they billed, in typical Fox News fashion, as a “fair and balanced debate.” The topic was a Maine mayor’s call to publish the names and addresses of all recipients of public assistance online as a sort of

“poverty-offender registry.” Mayor Robert MacDonald of Lewistown announced this ugly proposal last week in an op-ed in the local Twin-City Times, offering the justification that Mainers “have a right to know how their money is being spent.”

Sep 29 15:05

Americans shift away from traditional jobs

More than 42 million Americans are part of the independent workforce, representing a shift away from traditional jobs as more people join sectors such as the “on-demand” economy, a study showed Tuesday.

Sep 29 15:00

The Market In Pictures - The Aging Bull

Sep 29 14:54

The Mystery Of Hillary’s Missing Millions

Since Bill and Hillary Clinton left the White House in 2001, they have earned more than $230 million. But in federal filings the Clintons claim they are worth somewhere between $11 million and $53 million. After layering years of disclosures on top of annual tax returns, Forbes estimates their combined net worth at $45 million. Where did all of the money go? No one seems to know, and the Clintons aren’t offering any answers.

Sep 29 13:56

Banking Industry On The Verge Of A Massive Dump

Sep 29 13:55

This Is Not A Retest——Take # 2

Sep 29 13:44

Volkswagen Launches $250 Mln Auto Factory in Russia

Volkswagen Group Rus launched the 250 million-euro auto engine factory in Kaluga in central Russia on Friday.

The facility is located on the territory of the Grabtsevo technological park close to the Volkswagen auto factory.

“The enterprise will produce Series EA211 gasoline-powered engines with a capacity of 1.6 liters for Volkswagen Polo and Skoda Rapid cars produced at Volkswagen’s Kaluga auto plant. A part of engines will be supplied to the Nizhny Novgorod factory for Skoda Octavia, Skoda Yeti and Volkswagen cars,” Technical Director of Volkswagen’s new factory Vitaly Nakhtigal said at a presentation of the new facility’s products.

Sep 29 13:43

VW, Ford Open Engine Plants in Russia Amid Car Market Plunge

Volkswagen AG and Ford Motor Co. are sticking with long-planned investments in Russian engine factories even as car sales there head toward a six-year low.

Volkswagen opened a 250 million-euro ($279 million) plant on Friday, with Russian Prime Minister Dmitry Medvedev attending the inaugural ceremony. The factory near Kaluga, an industrial city southwest of Moscow where Volkswagen already produces vehicles, will have capacity to make 150,000 engines a year for Russian-made VW-brand and Skoda cars, helping reduce prices, Marcus Osegowitsch, head of the carmaker’s Russian unit, said at the event.

Sep 29 13:30

Labour says no to austerity, vows aggressive tax crackdown

Britain's opposition Labour Party on Monday voiced strong anti-austerity sentiments and said it would enforce an aggressive policy of collecting taxes from the wealthy if it won the next election.

The Party's top economic spokesman John McDonnell emphasized that major businesses will be forced to pay their "fair share" of taxes to help end austerity policies.

Sep 29 13:18

Trump-Unemployment Rate As High As 40%

Sep 29 13:17

Massive Layoffs Reported At Chesapeake Energy

Sep 29 13:10

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

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

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

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

Sep 29 11:53

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

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

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

Sep 29 11:38

Vanishing Gold

Sep 29 11:11

Stock Markets Crashing into the 2015.75

Sep 29 11:08

CrossTalk: Exiting recession

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

Sep 29 10:06

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

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

Sep 29 09:49

The Bankruptcy of America – 1933


Sep 29 09:02


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

Webmaster addition:

Sep 29 08:59

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

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

Sep 29 08:24

The End of the World Has Come… and Gone!

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

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

Sep 29 07:56

The Difference Between Gold and Debt

Sep 29 07:52

Brooklyn Rental Rates Higher Than Manhattan’s?

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

Sep 29 07:51

Hillary Clinton’s Plan to Lower Medical Costs

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

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

Sep 29 07:51

1 in 4 U.S. Homes Decline in Value

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

Sep 29 07:50

Starbucks Introduces New Latte

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

Sep 29 07:23

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

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

Sep 29 04:35

Is the Stock Market Top in?

Sep 29 03:53

Civil Asset Forfeiture: A System in Need of Reform

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

Sep 28 21:56

Disaster Capitalism: Outsourcing Violence and Exploitation

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

Sep 28 16:53

The Week Begins On A Scary Note

Sep 28 16:38

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

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

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


Sep 28 15:57


Sep 28 15:19

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

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