ECONOMY | WHAT REALLY HAPPENED


ECONOMY

May 12 10:27

The War On Cash Escalates: No Cash Or Bullion Allowed In Safe Deposit Boxes

The Goal Is to Force You to Deposit Cash and Charge You Interest

Bankers in the U.S. can learn something from the Swiss. The Swiss National Bank recently implemented negative interest rates without first solving the “problem” of how to prevent cash from fleeing the banks. Predictably, depositors started doing some math.

In one example, a sizable Swiss pension fund, calculated it would save 25,000 francs for every 10 million it held in the bank by simply withdrawing those millions and taking the bales of paper francs to be kept in a vault. The vault storage fees are less expensive than the negative interest rate.

Jumping the gun on the implementation of negative rates put the Swiss banks in an awkward situation. Like all fractional reserve lenders, they don’t have anywhere near enough cash to make good on the withdrawals that may be coming.

May 12 10:16

New Study on Food Shortages Highlights Need For Local Solutions

By Kevin Samson

In a new study that surprisingly comes from the halls of establishment education, researchers pinpoint globalization as a key indicator of where food crises are likely to emerge and worsen.

The study examines 140 nations with significant populations that have become reliant on imports due to the globalization of trade...

May 12 09:57

Concerns over Yemen aggression weigh on Saudi Arabia’s biggest stock index

The value of Saudi Arabia’s major stock index, Tadawul, has taken a nosedive amid concerns over the ongoing war of aggression in Yemen.

May 12 09:46

Almost Half Of US States Are Officially Broke

May 12 08:58

Surge In VIX Volume Reflects Huge "Interest In Owning Market Crash Protection"

"I'm not sure if it’s the biggest trade ever, but it's certainly one of them," noted Jamie Tyrrell, a VIX specialist on the CBOE floor, as Bloomberg reports almost $100 million worth of options pegged to the volatility of US equities were traded in a split second at 1216ET today. "Someone is interested in owning a lot of protection," Tyrrell added as just over 1 million contracts were traded, all told, about 54% of the total amount of index options that traded at the CBOE all day Friday. While for every buyer of VIX Calls there is a buyer, the notable push higher in volatility after this trade suggests the trades had characteristics of someone hedging stocks.

May 12 08:57

Almost Half Of US States Are Officially Broke

An Associated Press analysis of statehouse finances around the country shows that at least 22 states project shortfalls for the coming fiscal year. The deficits recall recession-era anxiety about plunging tax revenue and deep cuts to education, social services and other government-funded programs.

The sheer number of states facing budget gaps prompted Standard & Poor's Ratings Service to call the trend a sort of "early warning."

"After all, if a state is grappling with a budget deficit now, with the economic expansion approaching its sixth anniversary, what will be its condition when the next slowdown strikes?" credit analyst Gabriel Petek wrote in a recent report.

May 12 08:42

European shares dive into the red as Greece warns 'we could run out of money in a couple of weeks'

Shares across Europe have dive into the red after a warning came from Greece's finance minister that the debt-laden nation could run out of money in a couple of weeks.

Yanis Varoufakis warned his country's financial situation is 'terribly urgent' after eurozone finance ministers met in Brussels yesterday to discuss the final €7.2bn tranche of Greece's €240bn European Union / International Monetary Fund bailout.

Greece is struggling to meet repayment obligations and eurozone ministers said Greece had made 'progress' but more work was needed. Earlier, Greece began the transfer of €750m in debt interest to the IMF, ahead of a deadline.

May 12 08:22

'How are they expected to live?' Judge slams theft charge for desperate dad who stole out-of-date food from Tesco

A judge has slammed prosecutors for charging a desperate dad who stole out-of-date food from Tesco with theft, asking: "How are they expected to live?"

Paul Barker, 39, and Kerry Barker, 29, were spotted on CCTV sifting through groceries at the back of a store which were destined for the bin.

The couple are down on their luck and say they have virtually no money to look after themselves or their kids.

May 12 08:16

Toshiba shares go over a cliff after probe into hidden losses

Loss-making projects from 2012 may have been swept under the carpet

May 12 08:15

Canadian mining companies banned in three Salvadorian municipalities

On March 29, Nueva Trinidad became the third municipality in El Salvador to officially declare itself a "territory free of mining" through a historic community consultation.

Canadian mining companies have had a brutal presence in El Salvador. Communities in the departments of Chalatenango and Cabañas have organized to prevent the entry of mining corporations into the municipalities.

May 12 08:11

Hillary Clinton Has 1 Day to Take a Serious Stand on One of the Biggest Corporate Trade Deals in US History

The Democratic Party is now in an all-out war over the Trans-Pacific Partnership (TPP), with labor unions, environmentalists, and other public interest groups opposed to fast tracking the deal – which would allow it to have a vote with no amendments -- battling corporations and President Obama who are for fast track. The big vote on TPP in the US Senate is on Tuesday.

One voice who has been silent in this internecine conflict is Hillary Clinton. Clinton has refused to say whether she supports granting Obama fast track authority, let alone whether she supports the overall agreement. Her campaign chairman, John Podesta, recently joked to some donors that he wishes the deal would just “go away.” She has basically one day to come out and show where she stands on this issue and influence the outcome of the vote.

May 12 08:08

Rainwater collection being criminalized in U.S. to solidify total government dependence

You might be aware that it is illegal to collect rainwater on your own property in some states, but did you know that doing so could actually land you in jail? That is exactly what is happening to Gary Harrington of Eagle Point, Oregon. He is now facing a 30-day jail sentence and fines of more than $1,500.

His crime? Harrington has been collecting rainwater in three reservoirs on his property, and the government doesn't like it. In Oregon, all water is considered property of the state whether it flows from the tap or falls from the sky.

Webmaster's Commentary: 

May 12 08:02

Vatican Bank is the main shareholder in ‘Pietro Beretta’ arms

Perhaps few people know that Pietro Beretta arms factory Ltd. (the largest arms industry in the world) and is controlled by the Holding SpA Beretta and the majority shareholder of the Beretta Holding SpA after Gussalli Ugo Beretta, is the IOR (Institute for Works of Religion [commonly known as the Vatican Bank]) private institution founded in 1942 by Pope Pius XII and headquartered in Vatican City.

May 12 07:53

Deutsche Bank Pays $2.5 Billion Fine for Interest Rate Rigging

Deutsche Bank has agreed to pay out a record $2.5 billion fine to settle U.K. and U.S. government investigations into allegations of fixing global interest rates, just months after six other banks paid out $4.3 billion on similar charges. Activists say that the banks should have faced criminal charges.

May 12 07:50

Verizon Agrees to Buy AOL for $4.4 Billion

Verizon Communications Inc. agreed to buy AOL Inc. in a $4.4 billion deal aimed at advancing the telecom giant’s growth ambitions in mobile video and advertising.

May 12 05:31

Ordering Pizza Gets High-Tech

Pizza Hut has launched a new app called the “Pizza Navigation System” that gives customers an Uber-style ability to track the location of their delivery person’s vehicle on a map relative to their home.

May 12 04:09

Picasso tipped to smash auction record...

May 12 01:34

Silver Could See A 40% Spike By Year-End

May 12 01:33

What’s In Store For Gold If Cash Is Outlawed?

May 11 22:01

The Greek Endgame: Time to Choose between Default and Defeat

The three institutions on which the Greek state currently depends for its fiscal survival are all adamant to force the left-led government into submission. The reasons for this are overtly political: Eurozone governments are loathe to allow Syriza to set a successful example of debtor defiance, lest anti-austerity movements elsewhere in the Eurozone periphery be emboldened to make similar demands.

May 11 21:56

Amid TPP Fight, El Salvador Mining Case Shows Danger of Corporate Tribunals

OceanaGold, which purchased the Vancouver-based Pacific Rim Mining in 2013, is suing El Salvador—the most water-stressed country in the region—for an amount equivalent to 5 percent of its gross domestic product for refusing to grant it a permit to put a gold mine into operation.

May 11 21:51

War Threat Rises As Economy Declines

The defining events of our time are the collapse of the Soviet Union, 9/11, jobs offshoring, and financial deregulation. In these events we find the basis of our foreign policy problems and our economic problems.

May 11 15:54

Chrysler Wants to Pay for Employees’ College

Working at a car dealership may come with more benefits than you think.

May 11 15:53

Marriage Changes Tax Implications

Wedding season is officially here. It’s common knowledge that Summer is the time when more couples get married than any other time of year. But did you know that getting married can have a huge impact on your tax situation?

May 11 15:53

This 2-Year-Old Company is Worth $4.5B

A cloud-based human resources company, Zenefits, is only just now 2 years old but has a value of $4.5 billion.

May 11 15:52

Survey Shows Employees Want More Respect

Most employers likely wouldn’t rank respect as the top thing that most employees want. But a new survey from the Society for Human Resource Management found 72% of employees rank “respectful treatment of all employees at all levels” to be the most important factor in job satisfaction.

May 11 15:51

LinkedIn Stock Plunges

After LinkedIn acquired the educational website, lynda.com, business projections have fallen due to some “short-term” costs, and investors aren’t happy.

May 11 15:45

US Desperate to Steer Greece Away From Russian-Turkish Pipeline Project

Greece’s Syriza government is interested in a Moscow-backed ‘Turkish Stream’ natural gas pipeline project, bringing gas from the Black Sea through Turkey and into Greece.

The U.S. has moved in to block this option, selling an alternative plan to the Greeks – a ‘Trans-Adriatic’ pipeline project, bringing Azerbaijan’s gas from the Caspian Sea before entering into Europe, possible via Greece, and eventually to Italy.

May 11 14:59

War Threat Rises As Economy Declines

May 11 14:04

China Is About To Shock The World With Its Gold Holdings

We are on the verge of a golden shock.

I wrote recently about plans by the International Monetary Fund (IMF) to include the Chinese currency as one of the reserve currencies that back the IMF’s so-called Special Drawing Rights.

Well, there’s another facet to that story that you need to know … and it echoes the warnings I first began voicing in early 2014.

May 11 12:50

The secretive Bank of England

Well before the conflict for establishing a National Bank in America or the eventual surrender to the money changers with the betrayal in instituting the Federal Reserve, the history of the Bank of England needs to be studied. Relying on British historians may seem to invoke a cultural bias; however, the range and wealth of information on this topic comes from an earlier age. Further research will expand this understanding and many of the sources cited can fulfill this objective.

May 11 12:41

Raising the Minimum Wage Is Step One in Making the Economy Work for the Many, Not Only the Few

A basic moral principle that most Americans agree on is no one who works full time should be in poverty, nor should their family.

Yet over time we’ve seen significant growth in the “working poor” – people working full time, sometimes even 60 or more hours each week, but at such low wages that they remain impoverished.

May 11 12:02

Russia Asks Greece To Join BRICS Bank

As if the discussions in Brussels and Athens were not mired in enough uncertainty, Bloomberg reports that a Greek official confirms:

*STORCHAK ASKED TSIPRAS FOR GREECE TO JOIN BRICS BANK: OFFICIAL
The pivot appears to continue. Reportedly, Tsipras was pleasantly surprised by the proposal.

Webmaster's Commentary: 

As usual, Putin is about 90,0000 chess moves ahead of his European counterparts.

This will, indeed, be a game changer.

May 11 10:47

Why the Rich Don't Care About Jobs for the Rest of Us

Many of us wonder what possible reason could exist for the failure to invest in American infrastructure, to create millions of jobs as a result, and to help everyone in the long run. Analysis reveals personality traits and beliefs and misconceptions that might account for such behavior.

May 11 10:33

Water shut-off warnings to be posted Monday

The city will begin hanging notices on the doors of delinquent residential water customers Monday, giving them 10 days to sign up for a payment assistance plan or face cutoff.

The Detroit Water and Sewerage Department has estimated that Detroit has 20,000 to 25,000 delinquent residential accounts.

Shut-off status comes into play for accounts that are at least 60 days late or owe $150 or more. The notices will detail the warning and options for getting help, Gary Brown, Detroit's chief operating officer, has said.

Brown noted service won't be turned off to delinquent customers who opt into a payment plan. Typically, about 50 percent of people come in, get on plans and make a payment once the door hangers go out. The others, he's said, come in to pay on their bill on the day that service is shut off.

Webmaster's Commentary: 

The US Government can pay for weapons for Saudi Arabia, Israel, whoever, but can't afford to provide water to US citizens?

May 11 10:31

Larger Than Ever, Big Banks Poised to Fail Again: “The Damage Will Not Be Contained”

The banksters, who nearly tanked the global market in their collective effort to loot the peoples of the world, are operating out of “larger than ever” big banks.

The Corporate Reform Coalition (CRC) found that... even the weak-kneed requirements of the Dodd-Frank “Wall Street Reform Act” have not been fulfilled:

“The top six bank holding companies are considerably larger than before, and are still permitted to borrow excessively relative to the assets they hold,” the report states. “They are dangerously interconnected and remain vulnerable to sudden runs, because they borrow billions of dollars from wholesale lenders who can often demand their cash back each and every day.”

Read more at SHTFplan.com

May 11 10:30

Why the Rich Don’t Care About Jobs for the Rest of Us

Several studies by Paul Piff and his colleagues have revealed that upper-class individuals tend to be narcissistic, with a clear sense of entitlement. Worse yet, they believe their talents and attributes – genius, even – have earned them a rightful position of status over everyone else.

Scarier yet, according to one study, the American sense of entitlement has been growing over the past 30 years, despite the fact that most of us have lost ground to the super-rich. And most disturbing is that ‘upper-class’ individuals tend to behave more unethically than average citizens.

This “all about me” attitude means that the wealthy don’t have to depend on others, and that they have less need to understand the feelings of others. This directly impacts our daily lives. The greater the concentration of wealth, the less a society invests in infrastructure. Our investment in infrastructure as a percent of GDP dropped by 60 percent from 1968 to 2011.

May 11 10:12

When Obama Talks About His "Massive Fight" With Wall Street, What Exactly Does He Refer To?

On one hand, none other than the company whose very future depends on the continuity of the financial status quo (that would be Bloomberg whose 200,000 Bloomberg terminals are the cashflow lifeblood of the company and for which another financial crash would mean a huge hit to the bottom line as millions of financial workers are again laid off) has a cover story, as well as a cover, depicting Elizabeth Warren as Wall Street's bogeyman.

On the other hand, we now learn that Warren is also warning that Obama's pet trade project, the 12-nation Trans-Pacific Partnership (TPP) which is supposed to counter the ascendence of China in global trade, has been warning about the potential damage of the trade deal and has been arguing that the deal would cost American jobs (for more on the topic, see "Free Trade Is Plutocratic Propaganda").

And Obama is not happy: according to the NYT, Obama called Warren "absolutely wrong" in his criticism of the TPP.

May 11 09:43

War Threat Rises As Economy Declines — Paul Craig Roberts,

On the foreign policy front, the hubris and arrogance of America’s self-image as the “exceptional, indispensable” country with hegemonic rights over other countries means that the world is primed for war. Neither Russia nor China will accept the vassalage status accepted by the UK, Germany, France and the rest of Europe, Canada, Japan and Australia. The Wolfowitz Doctrine makes it clear that the price of world peace is the world’s acceptance of Washington’s hegemony.

Therefore, unless the dollar and with it US power collapses or Europe finds the courage to break with Washington and to pursue an independent foreign policy, saying good-bye to NATO, nuclear war is our likely future.

May 11 09:38

How prisons have become a cash cow for the rich

And it’s not just the phone companies that are getting rich off prisoners’ phone calls.

Thanks to so-called “commissions” that can account for as much as 94 percent of the cost of a call, prison phone contracts have become a major source of revenue for state and local governments all across the country.

These glorified kickbacks have also become a source of revenue for prisons themselves, and they use them to pay for the health care and food services they’re already constitutionally required to provide.

In other words, like pretty much every other case of privatization over the past few decades, the rise of private prison phone contracts has nothing to do with “efficiency” or “improving services” and has everything do with making a quick buck for some crony capitalist with a bunch of Republican friends in Congress.

Webmaster's Commentary: 

The privatization of prisons in this country has guaranteed an horrific rise in recidivism (re-offending, going back to prison), which means that the private prisons have become great investment opportunities (for people with the morals of a trout, that is).

Sweden is CLOSING many of its prisons, and why?!? Because the total focus of prison time is rehabilitation, rather than punishment, and reintegration with society when the prisoner is released.

It is a sane, and compassionate model, which is why it is completely ignored by the penal system here in the US.

May 11 09:27

Will Austerity Be the Straw that Breaks the EU AND the UK?

Very much like the Greeks, the Scots unambiguously voted down austerity. And in very much the same fashion, they face an entity that claims to be more powerful and insists on forcing more austerity down their throats anyway. It seems inevitable that at some point these larger entities will start to crack and break down into smaller pieces. As empires always do. Now, the EU was of course never an empire, there’s just tons of bureaucrats dreaming of that, and Britain is a long-decayed empire.

Larger entities like empires are more powerful only for a limited period of time, for as long as the center can make the periphery benefit; once the center starts feeding off the periphery, the endgame starts. This can take a while, but it will happen, it’s a law of nature. When periphery regions figure out they have nothing to lose by splitting off, they will elect to stand on their own two feet and be their own boss.

And it’s not as if either Scotland or Greece lack a history of fighting for their independence. Just a reminder.

May 11 09:12

US Will Withdraw Its Ambassador From Greece Because Of The Malfunction

US openly opposed gas supplies from Russia to the EU via Greece

The U.S. state Department chose to withdraw its ambassador in Athens in the year prior period because of the way that neglecting to educate Washington about the bill on legal change received by the Greek Parliament. On it advises Agency Sputnik with reference to the Greek daily paper Kathimerini.

http://whatisusa.info/us-will-withdraw-its-ambassador-from-greece-beca...

May 11 08:57

This uncanny chart says a top is approaching

May 11 08:53

YOU’RE GONNA NEED A BIGGER CHART

May 11 08:50

A British farmer has rejected a £275million offer for his land from housing developers

A farmer who rejected a £275million offer for his land from housing developers has said he is 'not afraid to stand up to them'.

Robert Worsley said he feared 'country bumpkins' like himself would be 'steamrolled' and that he believed the community was ready to stand together to protect their homes.

The 48-year-old father of two has run his 550-acre, near Haywards Heath, West Sussex, for the last 15 years.

He was approached by agents for housebuilder Mayfield more than two years ago. Since then, the company has contacted Mr Worsley a number of times, trying to persuade him to sell.

May 11 08:26

Gold vs DOW: Hedge Against Inflation?

May 11 08:25

Currency War Collateral Damage: China Stops Growing, Starts Easing; The Race To The Bottom Continues, By Early 2016 Both The US And China Will Be In Aggressive Easing Mode

When a country pegs its currency to a bigger one like the US dollar, it in effect outsources its monetary policy to the operator of that other currency. This confers several benefits, including the enforced discipline of the other, presumably more rigorous monetary regime and the simplicity of letting someone else stress over controversial policies like QE.

May 11 08:22

Putin’s Greek pawn gambit

In my earlier blog post on 17 March of this year, Hey Obama — The Chess Match Just Started, I broached the idea that Greece’s request for major war reparations from Germany for the WW-II NAZI invasion and occupation of Greece, and associated war crimes, could plausibly be seen as a sly gambit by multiple countries to ultimately ensnare the war-mongering USSA and bring it to heel.

May 11 08:03

Who’s Got the Gold?

In 1971, the US abruptly went off the gold standard, and in making the public announcement, US President Richard Nixon looked into the television camera and said, “We’re all Keynesians now.”

I was a young man at the time and had previously bought gold, albeit on a very small scale, but I recall looking into the face of this delusional man and thinking, “This is not good.”

May 11 07:39

Scale of UK attacks on Islamic State in Iraq revealed

British aircraft and unmanned drones have attacked Islamic State targets in Iraq with more than 200 bombs and missiles in military operations that have been largely ignored, a Guardian analysis has shown.

The air strikes, which began in the autumn, have been undertaken by the RAF’s oldest bombers – Tornado GR4s and its newest weapon – the remotely piloted Reaper.

Tornados have dropped at least 87 Paveway IV bombs and fired at least 47 Brimstone missiles. Reapers have fired more than 80 Hellfire missiles.

May 11 07:37

Our Religion is Enforced Monetism

May 11 07:24

War Threat Rises As Economy Declines — Paul Craig Roberts

The defining events of our time are the collapse of the Soviet Union, 9/11, jobs offshoring, and financial deregulation. In these events we find the basis of our foreign policy problems and our economic problems.

The United States has always had a good opinion of itself, but with the Soviet collapse self-satisfaction reached new heights. We became the exceptional people, the indispensable people, the country chosen by history to exercise hegemony over the world. This neoconservative doctrine releases the US government from constraints of international law and allows Washington to use coercion against sovereign states in order to remake the world in its own image.

May 11 07:24

The Average Age Of A Minimum Wage Worker In America Is 36

Did you know that 89 percent of all minimum wage workers in the United States are not teens? At this point, the average age of a minimum wage worker in this country is 36, and 56 percent of them are women. Millions upon millions of Americans are working as hard as they can (often that means two or three jobs), and yet despite all of their hard work they still find themselves mired in poverty. One of the big reasons for this is that we have created two classes of workers in the United States.

May 11 06:58

The Average Age Of A Minimum Wage Worker In America Is 36, The Real Unemployment Rate Is Sitting At 23 Percent. That Is Not An “employment Recovery” – That Is A National Crisis.

Did you know that 89 percent of all minimum wage workers in the United States are not teens? At this point, the average age of a minimum wage worker in this country is 36, and 56 percent of them are women.

May 11 06:36

BEX ALERT - The US Unemployment Rate At Its Lowest Level Since 2008

The Bureau of Labor Statistics’ April employments report contained unobtrusively reassuring monetary news.

The finance overview demonstrated superintendents included simply under a quarter million net new occupations in the month while the family unit review reported unemployment tumbling to 5.4 percent—its most reduced level following mid-2008. All in all, the report gave a positive counterpoint to late negative monetary news.

http://whatisusa.info/the-us-unemployment-rate-at-its-lowest-level-sin...

May 11 06:30

Chrysler Wants to Pay for Employees’ College

Fiat Chrysler announced last Monday that it will roll out a program to cover the cost of college degrees for those who work at Chrysler, Jeep, Dodge, Ram Truck and Fiat dealerships...

May 11 06:28

Confessions of a Former Mortgage Broker

Want an inside look at the home buying process? Read about the confessions of a former mortgage broker

May 11 06:07

US Openly Opposed Gas Supplies From Russia To The EU Via Greece

The U.S. state Department chose to withdraw its ambassador in Athens in the year prior period because of the way that neglecting to educate Washington about the bill on legal change received by the Greek Parliament. On it advises Agency Sputnik with reference to the Greek daily paper Kathimerini.

http://whatisusa.info/us-will-withdraw-its-ambassador-from-greece-beca...

May 10 22:16

US Openly Opposed Gas Supplies From Russia To The EU Via Greece

The U.S. state Department chose to withdraw its ambassador in Athens in the year prior period because of the way that neglecting to educate Washington about the bill on legal change received by the Greek Parliament. On it advises Agency Sputnik with reference to the Greek daily paper Kathimerini.

http://whatisusa.info/us-will-withdraw-its-ambassador-from-greece-beca...

May 10 21:59

The US Unemployment Rate At Its Lowest Level Since 2008

The Bureau of Labor Statistics’ April employments report contained unobtrusively reassuring monetary news.

The finance overview demonstrated superintendents included simply under a quarter million net new occupations in the month while the family unit review reported unemployment tumbling to 5.4 percent—its most reduced level following mid-2008. All in all, the report gave a positive counterpoint to late negative monetary news.

http://whatisusa.info/the-us-unemployment-rate-at-its-lowest-level-sin...

May 10 10:56

The Inhuman Failure of "Austerity"

The Framers of the U.S. Constitution said the Government should provide for the “general Welfare,” a mandate to help build a strong and prosperous nation. But the concept has been lost in a wave of anti-government, “neoliberal” propaganda making the Market king.

May 10 10:39

On the perennial nature of US urban riots

Lawrence Davidson analyses the evolution of urban riots in the United States, and explores how the root causes of the present-day phenomenon, manifested mostly in the form or race riots, can be addressed.

May 10 09:49

CA Politicians Reach Into Transportation Funds, Ignore Crumbling Infrastructure

Before assuming that that the Sacramento politicians are justified in seeking to dig deeper into drivers’ wallets, it is important to point out that billions in transportation tax dollars have been spent on other programs. State government has been diverting a billion dollars a year in annual truck weight fees to pay debt service on general obligation bonds and another $100 million annually in gas tax revenues to the general fund.

May 10 09:43

Hillary Clinton: Big Friend of Big Bankers

With the cost of a 2016 presidential campaign expected to reach more than $1 billion, a candidate will need some rich friends. Fortunately for Hillary Clinton, she has plenty of those on Wall Street. Nomi Prins, a former Wall Street executive and now senior fellow at the nonpartisan public policy institute Demos, writes that Clinton should be able to count on help from large financial institutions. Prins is the author of All the Presidents' Bankers: The Hidden Alliances that Drive American Power.

May 10 09:37

Billionaires ‘make out like bandits'

Fox News host Chris Wallace on Sunday grilled Republican presidential candidate Ben Carson’s plan to institute a flat tax plan that experts have said would give a massive break to the wealthiest Americans.

Carson said that under his flat tax plan, earners would “pay according to your ability.”

May 10 09:15

New Example of the Pentagon, DEA and Private Companies Conspiring to Beat Encryption, Track Everything You Do

Yet another report has surfaced describing how tools created by the companies selling software that can damage and hack into people’s computers are being deployed by U.S. security services. While the coverage surrounding this story focuses primarily on federal agencies it’s important to step back for a moment and view the big picture. In particular, looking at who builds, operates, and profits from mass surveillance technology offers insight into the nature of the global panopticon.

May 10 09:14

Keiser Report: First banksters’ problem is fairness

Max Keiser and Stacy Herbert discuss rackets and their suckers and what Charlie Brown might have to say about the latest banker outrage.

May 10 08:45

5 Things To Ponder: Margin Of Safety

May 10 08:42

Anti-austerity group plans protest outside Bank of England

The anti-austerity group behind a protest that escalated into violent clashes with riot police outside Downing Street on Saturday is planning another demonstration outside the Bank of England next month.

The People’s Assembly has told campaigners to assemble “right on the doorstep of the very people who created the crisis in the first place” in central London on 20 June, sparking what could become a summer of anti-austerity protests across the UK.

Hundreds of people attended the group’s impromptu demonstration outside Downing Street on Saturday after David Cameron was returned to No 10 with a Conservative majority.

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