ECONOMY

Sep 11 12:20

9 Reasons The Economy Stinks

Sep 11 12:01

Keiser Report: De-Dollarization

Sep 11 10:55

Changes For The Penny And Nickle Coming Soon

Sep 11 10:06

NO FUN

Sep 11 09:10

Bread and Milk Prices Expected to Soar

Sep 11 08:56

American shakedown: Police won't charge you, but they'll grab your money

On its official website, the Canadian government informs its citizens that “there is no limit to the amount of money that you may legally take into or out of the United States.” Nonetheless, it adds, banking in the U.S. can be difficult for non-residents, so Canadians shouldn’t carry large amounts of cash.

That last bit is excellent advice, but for an entirely different reason than the one Ottawa cites.

There’s a shakedown going on in the U.S., and the perps are in uniform.

Sep 11 08:23

UKIP’s Farage: ‘Scots won’t get independence from EU with Yes vote’

Farage, who described PM David Cameron as epitomizing “all that the Scottish people viscerally loathe about England,” said he “has walked straight into a long-planned ambush.” In an article for the Telegraph, Farage described the Scottish National Party as “the voice of anti-Englishness” and claimed that the “Scottish electorate has been sold ‘a pig in a poke.’”

Sep 11 08:10

BRICS creation of the New Development Bank called a landmark achievement

The creation of the BRICS New Development Bank (NDB) to finance infrastructure and sustainable development projects in emerging economies is a landmark achievement. Developing nations have lost faith in the current system with its strict conditions on development finance and its inability to insulate countries from financial shocks. International observers have however expressed mixed views about the creation of the bank and what it represents for the nascent multilateral BRICS bloc of Brazil, Russia, India, China and South Africa.

Sep 11 07:57

Food pantry aims to help veterans

According to the organization El Pasoans Fighting Hunger, one in seven El Pasoans has turned to a food bank for assistance over the last year.

Fifteen percent of those people are veterans.

Webmaster's Commentary: 

WE are seeing the same thing here in Hawaii.

Sep 11 07:37

Billions Withdrawn From Scotland’s Banks Ahead Of Independence Vote

Asset managers, investors and pension savers are moving billions of pounds out of Scotland, according to industry executives, amid rising concerns about the financial consequences of a Yes vote in next week’s independence referendum.

Sep 11 06:11

Honolulu tells homeless to beat it: Hawaiian city bans sitting and lying down on sidewalks in Waikiki to drive rough sleepers out of tourist hubs

Homeless people in Hawaii are facing the prospect of being moved on or even arrested if they try to sit or lie down in certain parts of Hawaii after new legislation was enacted on Wednesday.

The Honolulu City Council approved a plethora of measures which they hope will lead to a decrease in the numbers of homeless people in areas that are popular with tourists.

The most notable of the measures passed includes one that prohibits sitting and lying down on sidewalks in the Waikiki area.

The new bill also prohibits urinating and defecating in public throughout the island of Oahu.

The council defended their decision to introduce the legislation as they said the tourism industry had demanded action in relation to safety and human waste concerns.

There had been some calls for a ban on sitting and lying down on sidewalks throughout the island but this measure was not passed.

Sep 11 06:02

Surplus - How We Are Terrorized into Being Consumers

This is an award winning Swedish documentary film on consumerism and globalization, created by director Erik Gandini and editor Johan Söderberg.

It looks at the arguments for capitalism and technology, such as greater efficiency, more time and less work, and argues that these are not being fulfilled, and they never will be.

Sep 11 05:57

Money and Life

This cinematic odyssey takes us on a journey, from the origins of money to connecting the systemic dots on the current global financial crisis and how we got here. Most importantly, MONEY & LIFE says that we owe it to ourselves to understand the fundamentals of this technology called money in order to be effective participants in the economic transformation that is happening around us, a shift more rapid and as profound as the Industrial Revolution.

Sep 11 05:51

The Last Time This Happened, the US Went to War to ‘Defend’ its Interests

You’d think the US government would be gratefully sending fruit baskets to every foreign country in the world, treating everyone like a welcome friend. But that’s not what they do.

The US government arrogantly commands every bank in the world to report to the IRS. They drop bombs, send in drones, and invade foreign nations.

They spy on their allies and enemies alike. They freeze foreigners out of the US banking system and fine foreign banks for doing business with countries they don’t like.

It’s unbelievably stupid. Their behavior practically begs foreigners to abandon the dollar, and the US.

And it’s starting to happen, right in front of our very eyes.

Sep 11 05:47

The Silver Noose is Tightening: A Perfect Storm for Mining

While it may seem to some that mines might be able to continue producing the amount of silver they’ve been accustomed to producing well into the future, the truth is that these mines, especially primary silver mines, are starting to hit the silver wall of reality.

With the costs of petroleum and diesel soaring, ore grades plunging, and the price for their product free-falling, there’s a perfect, catastrophic storm brewing in the mining sector.

The banksters’ precious silver supply, despite all their efforts, is stagnant, and actually decreasing. They’re moving heaven (and twice as much earth) just to sustain this inadequate supply just.a.little.bit.longer.

The moment the metal stops, or even slows its flow in any reasonable quantity, is the moment the scheme comes crashing down. That’s a problem too, because the evidence is mounting that we are headed into a “peak silver” scenario.

It gets worse for our bankster friends massively short silver, much worse…

Sep 11 05:08

Poland says Russia's gas deliveries cut by half

Poland's PGNiG gas utility on Thursday said its gas deliveries from Russia's Gazprom had now been cut by half, against a background of tension over the Ukraine crisis.

"The decline in deliveries was at 45 percent" on Wednesday, PGNiG said in a statement a day after announcing gas had been cut by 24 percent, a claim Gazprom rejected as "incorrect."

Tensions are running high between the countries over the escalating Ukraine conflict, where Poland has backed the government forces battling separatists in the country's east. The head of Ukraine's main gas utility Ukrtransgaz, Igor Prokopiv, said the reduction was made with "the goal of cutting the reverse flow we are receiving" from EU states.

Several eastern EU states are supplying Kiev with gas after Russia stopped deliveries in mid-June after a pro-Western government took power, accusing Ukraine of not paying its bills.

Sep 11 05:03

Export ban the real reason for Eagle Ford gas flaring

HOUSTON – The San Antonio Express-News recently published a remarkable investigation into the vast quantity of natural gas from Texas’ Eagle Ford Shale that’s going to waste, as producers flare it off rather than store it and bring it to market.

The series will no doubt win some awards, and deservedly so, as it’s scrupulously fair to the industry and environmentalists, making the repeated point the waste is by no means arbitrary: natural gas prices are simply too low to incentivize much investment in pipelines and other necessary infrastructure.

The reporters even point out the Environmental Protection Agency’s new permitting requirements for pipelines have made it even more time-consuming and costly to build them, which makes it even less likely they’ll get built.

Sep 11 04:21

Silver Manipulation: "Virtually Every Evening, Silver Declines 3-10 Cents at 6PM"

Virtually every evening for the last 3 years at precisely 6:00 PM EST something very odd has happened: Comex silver offers swamped the bids to the tune of a 3-10 cent decline. For this to happen for three consecutive weeks would be strange. If it were to happen for three straight months it would be bizarre. MOAMOPE can only describe when it occurs for three straight years. It's a veritable Algopalooza! Silver has had a near-iron clamp imposed on it commencing with the access trade reopen. How severe is this iron clamp? From September 1, 2011 to the present, 621 out of the 744 6:00 PM access trade opens have been lower. All manipulation denialists take note: that's an astounding 83.5%.

Sep 11 03:22

PLEASE READ: If People Were Countries.....

If People Were Countries.....
(or, how to avert nuclear war, public or private)

remember, everyone, when things get heated, to CALM DOWN.

there is a point in any conflictual communication where one feels one absolutely must raise one's (virtual) voice, lose one's cool; where not to do so is a detriment to oneself and the meaning in one's life.

soon as the emotional barbs are answered in kind, one might as well give up. 'Innocent until proven guilty' -- how one feels and where one draws the line of acceptable stretching of the truth is not as important.

-- 'to protect my honor' or to 'back up my principles' or 'to protect' others -- worse, to 'not lose face' --

these are the game changers, the seemingly unique and rare set of events that will suddenly convince a large number of people to get involved, people who steadfastly opposed getting involved up to that point.

sound familiar?

Sep 10 22:58

World Bank warns of global jobs crisis

The world is facing a global jobs crisis that is hurting the chances of reigniting economic growth and there is no magic bullet to solve the problem, the World Bank warned on Tuesday.

Sep 10 20:50

What Petrodollar: Russia, China To Create SWIFT Alternative

According to Itar-Tass, Russia and China are discussing setting up a system of interbank transactions which will become an analogue to International banking transaction system SWIFT, First Deputy Prime Minister Igor Shuvalov told PRIME on Wednesday after negotiations in Beijing.

"Yes, we have discussed and we have approved this idea," he said.

Sep 10 20:03

RADIOSHACK IS WORTHLESS & WEAK

Sep 10 16:37

Should We Raise The Minimum Wage?

Sep 10 16:36

US, EU to ban Exxon, BP and Shell from oil exploration in Russia – report

The EU and the US are going to ban energy giants like Exxon Mobil, BP and Shell from searching for crude oil in Russia's Arctic, deep seas and shale formations, three American officials anonymously told Bloomberg.

Webmaster's Commentary: 

THAT'LL teach those Russians! :)

Sep 10 16:24

Here we go folks...Universal Basic Income!

Sep 10 15:46

Swiss Franc Tumbles On Threats NIRP Coming To Bern Next

We have recently noted the increasing pressure on the Swiss National Bank (SNB) over its peg to the EUR in the midst of a capital flood from Europe. The slow bleed strengthening of CHF against EUR had many concerned the SNB would be forced (by exogenous factors) to adjust the peg. But, this morning, it appears they tried to draw a red line... CHF has plunged after SNB's Mosler said negative interest rates remain an option should its minimum exchange rate (peg) come under threat. So, first NIRP in Europe, then in Japan (as per our overnight discussion), and now the Swiss warning NIRP is coming there next...

Sep 10 15:40

Deutsche Bank: The Bubble Must Go On To Sustain The "Current Global Financial System"

When all is said and done, it all basically boils down to this: from Deutsche Bank's Jim Reid.

The bubble probably needs to continue in order to sustain the current global financial system and the necessary future deleveraging. However with yields moving ever lower in many parts of the world in recent times, partly due to weak growth, and with debt levels still moving higher, the chances are that most government bondholders are unlikely to achieve a positive real return over the medium to long-term from this starting point. Inflation or even the risk of sovereign restructuring will likely prevent this.

So there you have it: either the bubble goes on, or the "current global financial system" gets it.

Sep 10 15:38

What Petrodollar: Russia, China To Create SWIFT Alternative

Russia and China are discussing setting up a system of interbank transactions which will become an analogue to International banking transaction system SWIFT, First Deputy Prime Minister Igor Shuvalov told PRIME on Wednesday after negotiations in Beijing. "Yes, we have discussed and we have approved this idea," he said.

Sep 10 15:24

Hottest metal on the planet breaks support

Sep 10 14:46

787 gets harsh scrutiny on Al Jazeera

Boeing watchers may find that a documentary on the Dreamliner that debuts this week on Al Jazeera English, like the 787’s smoldering batteries in 2013, produces more heat than light.

Like those powerful and problematic lithium ion batteries, however, the documentary does raise troubling questions and leave some matters unresolved.

Sep 10 14:15

Number of aging Americans paying student loans soars

The rising cost of higher education is dogging Americans into retirement, with people aged 65 and older still carrying some $18.2 billion in unpaid student loans, according to a federal report released on Wednesday.

Sep 10 14:05

Deal with creditor prompts judge to halt Detroit bankruptcy trial until Monday

The city’s bankruptcy judge temporarily halted the biggest municipal bankruptcy trial in U.S. history Wednesday after Detroit reached a last-minute deal with a holdout creditor.

Sep 10 13:44

Is the Dollar Headed For Collapse?

Sep 10 13:29

Professional Investors Are Preparing For A Stock Market Crash

David Zeiler: It looks like a growing number of professional investors are preparing for a stock market crash, as hedge fund filings for the second quarter show a spike in defensive positions.

Sep 10 12:49

Full Frontal Inflation

Sep 10 12:29

"That's a nice looking recovery" - probably

Sep 10 11:34

11 Reasons To Boycott Apple Computer Products

Sep 10 11:09

The Fed Just Imposed Financial Austerity on the States

The Federal Reserve Board of Governors, together with the Federal Deposit Insurance Corporation and Office of the Comptroller of the Currency – the top regulators of Wall Street’s largest banks – finalized liquidity rules yesterday that make absolutely no sense to anyone with a historical perspective on how Wall Street operates in a crisis.

Sep 10 10:20

World Bank Warns Of Global Jobs Crisis

Sep 10 10:02

The 9/11 Triple Cross

Three major thesis are in competition concerning the culprit of the 9/11 attacks:

1. Islam Job: the official conclusion of the 9/11 Commission, blaming Muslim terrorists in general, and Osama bin Laden in particular;
2. Inside Job: the dominant thesis within the so-called 9/11 Truth movement, which accuses the American government, or a faction within the American Deep State;
3. Mossad Job: the rising alternative thesis within the community of truth seekers, which claim that the masterminds were a Zionist network close to the Israeli Likud.
There are variations on each thesis and middle grounds between them, but three camps can clearly be distinguished: Acknowledging this reality, by renouncing the bipolar vision of an information warfare between official liars and 9/11 truthers, and paying attention to the debate (or absence of the debate) between Inside-jobbers and Mossad-jobbers, is the first step toward a paradigm shift in “9/11ology”.

Sep 10 09:48

13 years later… Propaganda & the US War Machine Featuring Michael Rivero

Join us for over a half hour of incredible content. Mike is literally full of information and strategic analyses We discuss the Bretton Woods agreement and the road to Petro dollar status, and it’s imminent demise. Mike explains the Soviet Union’s role as a seed for the development of Al Qaida, and now, ISIS, including botched US foreign policy and the consequences. We discuss 40+ years of false flags and downright accidents and the resulting wars. The gulf of Tonkin and the false initiative in Vietnam. The wreck of the Lusitania and the spark for WWI. Ukraine, Crimea and the roots of self-governance. We also explore the US/ Mex Border crisis, Police State – Ferguson, MO, Ebola, Russia and more.

Sep 10 08:50

Arab gold bank to be established in Damascus in 2015

Another reason to bomb Syria! Using ISIS as the pretext.

Damascus, SANA – Participants in the inaugural conference of the Arab Union for the Industry and Commerce of Jewelry and Diamond agreed to establish a bank for Arab gold in Damascus with around 6 tons of gold in deposits which will be officially launched in early 2015.

Sep 10 08:33

Gov. Christie Shifted Pension Cash to Wall Street, Costing New Jersey Taxpayers $3.8 Billion

Gov. Chris Christie's administration openly acknowledged that more New Jersey taxpayer dollars were going to land in the coffers of major financial institutions. It was 2010, and Christie had just installed a longtime private equity executive, Robert Grady, to manage the state's pension money. Grady promoted a plan to put more of those funds into riskier investments managed by Wall Street firms. Though this would entail higher fees, Grady said the strategy would "maximize returns while appropriately managing risk."

Sep 10 08:10

Bank of Japan Buys Government Debt at Negative Yield

Tuesday marked another milestone in the topsy-turvy world of monetary easing in Japan: The Bank of Japan bought short-term Japanese government debt at a negative yield for the first time, according to market participants.

The BOJ scooped up some of the three-month No. 477 Treasury bill, which has traded at a negative yield for the past two trading days amid strong demand, the market participants said.

Normally, people who buy debt expect to get their money back plus some interest. Negative yield means the buyer gets back less than he or she puts in.

Why would the Bank of Japan buy under such conditions?

Sep 10 07:43

Financial Warfare: “The Anglo-American Caliphate” Confronts BRICS

Ever since the BRICS (Brazil, Russia, India, China and South Africa) expressed their unison through the formation of a joint Development Bank – Durban, South Africa on 27 March 2013 – the Zionist-Anglo-Saxon caliphate attempted to divide them. The BRICS constitute some 45% of the world population and close to 30% of global GDP. The BRICS idea is to issue a joint alternative currency, fully detached from the US dollar and its greed economy.

Sep 10 07:39

Beware Of The UN Takeover Of American Water Supplies

Millions of children under five die every year due to toxic germ-infested unsafe drinking water. This means that almost four babies a minute die from a lack of water according to UN-Water’s estimations. In the 2014 World Water Report released on the eve of World Water Day, the UN said that 768 million people do not have adequate access to water, 2.5 billion do not have access to improved sanitation. Among the deprived are a significant number of people in Detroit. It would seem that the problems of the third world are being visited upon Detroit and soon the rest of the country.

Sep 10 07:25

NATO intends to prohibit Russia’s and China’s Development

The glitzy NATO summit in Newport has not publicly announced major decisions but it is likely that they were taken in secret. To prevent Russia and China - but also India - from continuing their development, NATO can count on Terrorism from the Islamic Emirate which it pretends to condemn and fight.

Moreover, contrary to its name, NATO is not an alliance of equals, but a subjugation of partner armies by the United States and the United Kingdom. Indeed, all member armies of this supposed "alliance" are under the command of a single US officer who is also commander of American forces in Europe-while the secret service of NATO, the "Gladio", under the joint authority of Washington and London, ensures that the anti-imperialists never come to power in the other Member States [2]. To do this, NATO has not skimped on political killings, nor even coups (in France [3], Italy, Greece, Cyprus and Turkey).

Sep 10 07:04

They’re coming for your money

Sep 10 07:03

Economic Reality of a Wealth Tax

Proponents of big government, from both the left and right, share one important trait; namely, both spend their waking hours dreaming up new schemes to tax wealth. Only a blind, deaf and dumb observer of economic imbalance would deny that the massive accumulation of worldly assets into the hands of the smallest number of robber barons in all of history is at the core of most social unrest and global instability. However, adopting a Marxist outlook on the evils of thebourgeoisie simply confuses the nature of the financial magnates, while blaming the hard pressed merchant class for conducting beneficial business. Creation of tangible wealth is the greatest achievement in the uplifting and improvement of the human condition, when that stream of riches flows between and among entrepreneurs and business proprietors.

Sep 10 05:59

Preparing To Asset-strip Local Government? The Federal Reserve’s Bizarre New Rules. Destabilizing Economic Impacts Across America

In an inscrutable move that has alarmed state treasurers, the Federal Reserve, along with the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency, just changed the liquidity requirements for the nation’s largest banks. Municipal bonds, long considered safe liquid investments, have been eliminated from the list of high-quality liquid collateral. assets (HQLA). That means banks that are the largest holders of munis are liable to start dumping them in favor of the Treasuries and corporate bonds that do satisfy the requirement

Sep 10 05:54

Spain Bond Yields Spike Most In Over A Decade As "Referendum Risk" Spreads

As we warned earlier, there is the potential for broad risk premium re-pricing across European nations on the back of Scotland's independence referendum decision; and nowhere is that more evident in the last 2 days than in Spanish bonds. So-called "referendum risk" - in this case related to Catalan independence - has sent Spanish bond yields up over 17bps (over 8.1% - the biggest single day jump since before the EU was formed) and risk spreads are 12-15bps wider as the UK experience (with growing support for UKIP alongside faster economic growth) raises the issue that economic recovery alone may not be enough to reverse the rise in anti-elite, anti-establishment sentiment across Europe.

Sep 10 05:50

Russian Retaliation Begins: Gazprom "Limiting EU Gas", Cuts Poland Supplies By 24% In Past Two Days

Over the weekend, we commented that in response to Europe's latest, and most serious, sanction round which would finally impact Russian energy giants Rosenft, Gazprom Neft (but not Gazprom) and Transneft, "suddenly the stakes for Russia, and thus Europe, just got all too real, as Putin will now have no choice but to really ramp up the retaliatory escalation, which following the food ban can only mean one thing: a staggered reduction in gas flow to Europe."

Sep 10 05:49

You Know It's Bad In Europe When...

...more Italian, Spanish, and Greek citizens believe their country is heading in the wrong direction than Ukrainians!!!

Sep 10 05:44

Russian Retaliation Begins: Gazprom "Limiting EU Gas", Cuts Poland Supplies By 24% In Past Two Days

While Europe appears to have blown it load prematurely, with the latest round of Russian sanctions leaked before Europe actually has the consensus to implement them, Russia has no such moral quandaries and three days following our forecast, here comes Gazprom confirming once again that it is perfectly happy to play the "mutual defection" strategy in the ongoing and ever escalating game theory between Europe and Russia. From Bloomberg:

RUSSIA LIMITING EU GAS TO RESTRICT REVERSE SUPPLY TO UKRAINE

This follows news earlier today from Poland’s PGNiG which said Gazprom lowered supply by 20%-24% in past 2 days.

Sep 10 04:25

German Businesses Hurt by Sanctions Imposed Against Russia

September 10 (RIA Novosti) – German medium-size businesses are starting to feel the negative impact of Western sanctions imposed against Moscow, as Russia is turning towards Asia-Pacific nations for high-tech machinery and engineering systems.

"The innovative German machinery makers and engineering companies, mostly medium and small businesses, are being hit the hardest," Volker Treier, deputy managing director of the German Chambers of Commerce (DIHK) said, as quoted by the Business Insider Tuesday.

Treier said he expects German exports to Russia to fall by about 20 percent in 2014.

Sep 10 00:21

Crazy Proposed Calif. Law Will Make Stop Sign Tickets Misdemeanors

A little-known state agency which manages parks in California has not only installed stop sign cameras, which are not even allowed under CA law, but they seek to increase the penalty for running a stop sign from an infraction to a misdemeanor criminal offense. AB 1767, authored by Assemblyman Chris Holden (D-Pasadena), currently sits on Governor Jerry Brown's desk awaiting signature. The state also seeks to raise the stop sign fines from $100 to $500, in parks run by the 'MRCA' (Mountains Recreation and Conservation Authority).

Sep 09 22:04

PTSD on the rise in poverty-stricken American cities

Some citizens of violent American neighborhoods are developing post-traumatic stress disorder, a new report from ProPublica finds. Los Angeles, Detroit, New Orleans and other large cities suffer from violence on a regular basis, with no escape for those affected, putting intense stress on children and adults.

Sep 09 21:54

Debt-ridden Spain to spend €1mn on riot gear

The Spanish government intends to spend about 1 million euro on police riot gear, despite the country’s debt rising by 58 billion euro over the last year. Authorities worry about widespread protests they believe will grip the nation in the autumn.

Sep 09 20:20

World Bank Warns Of Global Jobs Crisis

Sep 09 20:19

Real Interest Rates and Future Chaos

Sep 09 19:21

BRICS keep supporting Russia in bid to rebalance world power

While Western nations beef up economic sanctions and Nato discusses what stance to take toward Russia, the BRICS are maintaining tacit support for Moscow despite the Ukraine crisis.

This is not entirely unexpected. Yet, it suggests that the BRICS (Brazil, Russia, India, China and South Africa) grouping’s commitment to the reform of the international system is to be taken seriously. And the Ukraine crisis has provided the group with a powerful opportunity to voice its shared opposition to Western powers’ self-assigned role as the custodians of the international community.

Sep 09 18:46

REVEALED: The Secret to Free Gold

Sep 09 18:37

The Three Amigos Ride to Scotland

Cameron, Miliband and Clegg. Just typing the names is depressing. As part of their long matured and carefully prepared campaign plan (founded 9 September 2014) they are coming together to Scotland tomorrow to campaign. In a brilliant twist, they will all come on the same day but not appear together. This will prevent the public from noticing that they all represent precisely the same interests.

Nobody in Scotland feels the slightest warmth towards these people, except for those paid hacks whose income depends upon their feeling such warmth (and there are too many of those, but still only a few hundred). One thing I can guarantee is that this rush of “superstars” will not meet my challenge of seeing 300 Better Together supporters in the same place.

Sep 09 14:47

A degree is worth less in Spain than in rest of EU

More young people in Spain are NEETs (Not in Education, Employment or Training) than anywhere else in the EU, with graduate unemployment also tripling the OECD average, a new report shows.

Sep 09 14:30

Corporations Screw Everybody

Corporate executives don't give a damn about their workers, and it's all because of Reagan.

A new analysis released by the Economic Policy Institute (EPI) shows just how much of a "screw the workers" mentality today's corporate executives have.

Sep 09 14:23

Video: Why America needs a major war in Europe

If you don't see the English subtitles, turn them on once the video has started playing by clicking on the rectangular CC box to the left of the little gearwheel icon in the bottom right of the youtube video.

Sep 09 14:19

How The Fed “Mysteriously” Eliminated $7 Trillion In U.S. Debt

Anyone looking at the Federal Reserve’s own data set, that provided with the generous “free” funding of the US taxpayer by way of the St. Louis Fed’s FRED database, will notice something quite welcome, if magical: total US debt held by the public – that which is not part of intragovernment holdings, read Social Security – has mysteriously collapsed from $12 trillion to $5 trillion.

Somehow, with nobody looking, the Fed managed to reduce US total debt by $7 trillion.

Webmaster's Commentary: 

The government gets to do that, but you don't!

Sep 09 11:59

PayPal – Will Accept Bitcoin

Bloomberg reports:

PayPal … will start accepting bitcoins, opening up the world’s second-biggest Internet payment network to virtual currency transactions.

“We’re announcing PayPal’s first foray into bitcoin,” Bill Ready, the chief of EBay’s Braintree unit, said at Techcrunch’s Disrupt SF conference yesterday. “Over the coming months we’ll allow our merchants to accept bitcoin. On the consumer side it will be a sleek experience.”

EBay [the parent company of PayPal], as the world’s biggest Web marketplace and operator of a global payments service, is the most significant business to date that’s embraced bitcoin. The move could potentially enable PayPal’s 152 million registered accounts to transact using the virtual currency, spurring wider use and acceptance of bitcoin …

Sep 09 10:18

Small Business Ownership In America Is At An All-Time Low

According to the Federal Reserve, the percentage of American families that own a small business is at the lowest level that has ever been recorded. In a report that was just released entitled "Changes in U.S. Family Finances from 2010 to 2013: Evidence from the Survey of Consumer Finances", the Federal Reserve revealed that small business ownership in America "fell substantially" between 2010 and 2013. Even in the midst of this so-called "economic recovery", small business ownership in America has now fallen to an all-time low. If the economy truly was healthy, this would not be happening. And it isn't as if Americans are flooding the labor market either. As I detailed yesterday, the labor force participation rate in this country is at a 36 year low. That would not be happening if the economy was actually healthy either. The truth is that the middle class in America is dying, and this new report from the Federal Reserve is more evidence of this very harsh reality.

Webmaster's Commentary: 

Please: do not think, for one moment, that this is accidental.

Sep 09 09:59

New Jersey’s Debt is Downgraded by Fitch as Chris Christie Funnels Pension Money to Private Equity and Hedge Funds

David Sirota must be commended for his incredible work this year exposing the insidious relationship between public pension funds and “alternative asset managers,” namely private equity firms and hedge funds. It is the private equity component that has captured my attention the most due to the industry’s notoriously opaque and seemingly illegal fees.

One example I highlighted earlier this year was: Leaked Documents Show How Blackstone Fleeces Taxpayers via Public Pension Funds. The reason this relationship between public pension money and private equity is so incredibly important is because so many in the private equity world are so incredibly shady. Let’s not forget what SEC official Drew Bowden said back in May:

Webmaster's Commentary: 

Absoflippinglutely unbelievable!!

Whoever did this, and signed off on it, on the part of these companies, should be going to jail, and NOT to a "Club Fed"!! They should be made an example of, and in the worst way.

Of course that will only happen...when pigs fly.

Sep 09 09:52

Guess who's coming to dinner? The Coucil on Foreign Relations

President Obama hosted "a private dinner with a group of foreign policy experts," the White House announced last night. Among them: Sandy Berger, who was caught stealing and destroying classified documents that related to President Clinton's record on terrorism issues.

"Former National Security Adviser Sandy Berger was sentenced Thursday to community service and probation and fined $50,000 for illegally removing highly classified documents from the National Archives and intentionally destroying some of them," CNN reported in 2005.

"Berger must perform 100 hours of community service and pay the fine as well as $6,905 for the administrative costs of his two-year probation, a district court judge ruled."

Ronald A. Cass, in 2007, noted that Berger took extraordinary steps to cover up his crime:

Webmaster's Commentary: 

This little confab makes me extraordinarily nervous about what this Administration has planned to "sell" the American people on the coming war against ISIS.

I, for one, am not buying.

And this constant, verbal, IV "drip" of Obama's assurance that there will be "no US troops in the ground" in Iraq is rather sickening my stomach, rather than having the desired effect, and here is why.

The President, Congress, State Department, and Pentagon should have learned, after the debacle which was the Vietnam War, that you cannot win what is essentially a ground war from the air.

And I would like to politely suggest that one of the classic definitions of insanity is doing the same thing over and over, in precisely the same way, yet expecting a different outcome.

So I have to wonder two things: is the alleged "war" against Isis a cover for going back into Iraq, and ultimately Syria?!? The short answer is, absolutely yes.

Are we going to see this alleged "strategy" of "no US boots on the ground" escalate, and fast, to not only having a substantial number of US military boots on the ground but reinstituting a draft?!?

Were I a betting woman, I would not bet against those last two scenarios.

Sep 09 09:36

Profits Soar As Pentagon Leans on Private Corporations for Special Ops

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Profits Soar As Pentagon Leans on Private Corporations for Special Ops
September 9, 2014
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Source: Common Dreams

?Research reveals that private, for-profit corporations are integrated into some of the most sensitive aspects of U.S. special operations activities worldwide. (Photo: remotcontrolproject.org)

Private military contractors are reaping billions of dollars in profitable rewards from the U.S. government's global network of clandestine counter-terrorism and other overseas operations, according to a new report that examines the high-levels of integration between for-profit corporations and the Pentagon's global military and surveillance apparatus.

Webmaster's Commentary: 

Why do I get the uncomfortable sense that the more the Pentagon reaches out to private corporations to achieve these ends, the less secure these operations actually are?!?

Sep 09 09:08

Albania Central Bank Governor Arrested Over Theft Of $7 Million From Bank Vaults

About a month ago we mocked the Albanian central bank when reports emerged that "two employees" had been charged with the theft of some $6.6 million in cash from the bank's vaults. Specifically, back in July the arrests come five weeks after a worker at the central bank admitted to stealing money over the course of four years, taking new bank notes printed in Switzerland when they arrived at his workplace and replacing them with old books. As it turns out, since there is a central bank involved, there is once again more than meets the eye, and the story has since mutated into something far more grotesque than even we could imagine, with news coming out late last week and over the weekend that not only was the theft by "two employees" a misdirection, but that the guilty party was none other than the Albanian version of Janet Yellen, the governor of the central bank himself Ardian Fullani.

Sep 09 08:27

Russia's Response To European Capital Sanctions In One Word

While the West continues to press the "Russia is increasingly isolated" meme, it appears - as we noted ironically previously, that Vladimir Putin is finding plenty of friends... most notably China. While threats of 'asymmetric' retaliation over European sanctions may have been enough to worry Europe's leaders, the slew of news overnight regarding increased cooperation between China and Russia is likely more damaging to Western strategy (and egos).

Sep 09 07:23

Over 100,000 Homeless People Have Been Moved Into Homes & It Isn’t Stopping There! One Of The Most Profound Movements Ever!

Whether you live in a major metropolis or a small town, chances are you’ve seen homeless people sleeping or wandering the streets at some point. On those cold and ruthless winter nights I can’t help but feel compassion and misery for anyone who doesn’t have warm food, clothing, or a bed to help ease the sub-zero temperatures.

In Canada alone it is estimated that at least 200,000 experience homelessness in a year. This number is substantiated by an even larger number of homeless people in the United States, coming in at an unsettling 1.7 million. One can’t help but ask ourselves the daunting question, “what can I do to help?”

Sep 09 06:37

US banks suddenly close dozens of accounts, Muslim group suspects racial profiling

Dozens in the US have received notices that their bank accounts have been closed, without explanation. Some say the banks are trying to eliminate risk, but a Muslim civil rights group suspects racist policies and has complained to the Justice Department.

The letters have been sent to business owners, nonprofits, and students across the country, according to reports. However, no explanation has been provided in any of the notices.

Last year, reports surfaced that Iranian students studying at the University of Minnesota had their accounts closed. Now banks appear to be closing the accounts of people who have connections to Kuwait and Syria.

Sep 08 11:00

Here Is Why Europe Just Launched The "Nuclear Option" Against Russia

Europe's leaders, we assume under pressure from Washington, appear to be making a big weather-related bet with their taxpayers' lives this winter. As they unleash funding sanctions on Russia's big energy producers, Europe has pumped a record volume of natural gas into underground inventories in an effort to 'outlast' Russia and mitigate any Napoleonic "Winter War" scenario. The plan appears to be to starve Russian energy firms of cashflow - as flows to Europe are already plunging - and remove their funding ability, potentially forcing severe hardship on Russia's key economic drivers. There appears to be 3 potential problems with this plan...

1) What if the weather is considerably colder than normal this winter?

Sep 08 10:41

Over 100 teens swarm Memphis plaza, 'knocking out' shoppers

Sep 08 09:46

If The Economy Is Recovering, Why Is The Labor Force Participation Rate At A 36 Year Low?

Should we be concerned that the percentage of Americans that are either working or looking for work is the lowest that it has been in 36 years? In August, an all-time record high 92,269,000 Americans 16 years of age and older did not "participate in the labor force". And when you throw in the people that are considered to be "in the labor force" but are not currently employed, that pushes the total of working age Americans that do not have jobs to well over 100 million. Yes, it may be hard to believe, but there are more than 100 million working age Americans that are not employed right now. Needless to say, this is not a sign of a healthy economy, and it is a huge reason why dependence on the government has soared to absolutely unprecedented levels. When people can't take care of themselves, they need someone else to take care of them. If the percentage of people in the labor force continues to decline like it has been, what is that going to mean for the future of our society?

Sep 08 09:30

Preparing To Asset-strip Local Governments? The Fed’s Bizarre New Rules

In an inscrutable move that has alarmed state treasurers, the Federal Reserve, along with the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency, just changed the liquidity requirements for the nation’s largest banks. Municipal bonds, long considered safe liquid investments, have been eliminated from the list of high-quality liquid collateral. assets (HQLA). That means banks that are the largest holders of munis are liable to start dumping them in favor of the Treasuries and corporate bonds that do satisfy the requirement.

Why would regulators dangerously jeopardize state and local government budgets in this way? Skeptical observers speculate that the intent is to Detroit-ize municipal governments, so that assets can be stripped as is being done in that imperiled city. The international bankers got away with asset-stripping Greece. Why not make the US itself a wholly-owned subsidiary of private banking interests?

Webmaster's Commentary: 

At the risk of sounding like a chipped CD, please have no more money in the bank than you need to handle bills; keep the rest under your personal control.

Find resources from which you can purchase small amounts of gold and silver.

Don't have anything stored in a bank deposit box, because in times of a "financial emergency", the Federal Government now has the right to expropriate whatever they find in those boxes.

Folks, something wicked this way comes, economically; the best you can do is be as prepared for it in the most intelligent way possible.

Sep 08 08:19

Japan says economy contracted 7.1 percent in 2Q

Japan's economy shrank more sharply in the second quarter than first estimated and the latest indicators suggest only a modest bounce back since then.

Webmaster's Commentary: 

The problem with globalism is that nations like Japan and China have become dependent on the United States as perpetual (over)consumers of their exports. As the US economy decays, so too do those revenue sources, dragging other nations down with us.

Sep 08 07:53

Poverty levels accelerating in the US

Unemployment is leading to poverty levels that haven't been seen in the US in decades.

"This could be a bend point in our economy."

Many middle class are finding themselves sinking into poverty.

Blacks, Latinos, and 50+ are getting hit the hardest.

Whole industries that created jobs in the past - construction for example - are simply drying up.

Sep 07 18:51

Latest IRS email loss evidence of out of control government under Obama

The latest report on Friday describing suspected lawless behavior by the United States' most powerful law enforcement agency is being characterized as an arrogant and cynical insult to the intellect of the American people and evidence of out of control government under Barack Obama.

Officials from the Internal Revenue Service (IRS) -- an organization known for its sometimes questionable, ruthless pursuit of taxpayers -- told members of a House of Representatives' committee on Friday that five additional workers allegedly linked to the agency’s Tea Party and conservative targeting scandal appear to have lost emails due to computer problems.

Sep 07 08:18

On The Brink Of A Major Crisis: “This Will Be A Literal Collapse of the Entire Global Monetary System”

Discussions of the possible collapse of the U.S. dollar often center around how such an event will affect the domestic economy. But the dollar doesn’t just operate inside of a bubble. It is the world’s reserve currency for a reason. Some sixty-six countries world-wide either utilize it as their primary currency or peg their own currencies to its exchange rate. What this means, as noted by Future Money Trends in the micro documentary below, is that if and when the dollar does come under attack the fallout will be everywhere. The collapse will happen simultaneously and affect billions of people worldwide.

Webmaster's Commentary: 

There are 196 nations on Earth. If only 66 are tied to the US dollar, then by definition the US dollar has already lost the status of a "global" currency.

Sep 07 08:07

Lap Dancers, the CIA, Pay-offs, and BP’s Deepwater Horizon

The BP executive was explaining to me how the CIA, MI6 and British Petroleum engineered a coup d'état, overthrowing an elected president of a nation who was “not favorable to BP.” The corporation's former Vice-President, Leslie Abrahams, is pictured here, holding an AK-47 in front of BP headquarters in Baku, Azerbaijan. Like most of the other BP executives I spoke with, he proudly added that while he was working for BP, he was also an operative for MI6, British intelligence.
The conversation was far from the weirdest I had in my four-continent investigation of the real story of the Deepwater Horizon.

The BP oilrig blew out on April 20, 2010, four years ago this Sunday.

Sep 06 15:18

Interview with Sergei Glaziev - Advisor to President Putin

Subtitles in english, french,german, and (NEW) KOREAN
Konstantin Semin’s interview with Russian Presidential Advisor Sergei Glazyev on July 24 2014.

Sep 06 09:46

Housing Bubble 2 Hits Wall: Middle Class Priced out of Market

With home prices rising for three years in much of the country, and soaring at dizzying rates in a number of metro areas, the inevitable is happening: sales stalled. But prices have continued to rise, even as sales have deteriorated further. Something has to give. And it’s not going to be maxed-out American consumers. They’re not going to all suddenly inherit enough money to buy these mid-range homes that have moved beyond reach.

But something else is happening.

Webmaster's Commentary: 

Economically, look for a major correction in the stock market, accompanied by a rash of home foreclosures in the very near future.

Sep 06 09:12

My Stumbling Days Are About Over!

Stumble has turned off my account it would appear. The last 6 weeks have been really difficult getting stuff up.
I put up the Make sure your Congressman see's this before November of the father holding his child with a brainless open skull plus the article about the IDF bombing an orphanage and the dairy that supports it. A couple of minutes after that I can't get into my account or post anymore!
Stumble has been turning off sites and individual webpages left and right and it has really gotten bad since Gaza and Ukraine.
If I can get back up I will but if not I hope I directed some traffic to WRH and all the bloggers who post here and we woke some more people up!
DRIP! DRIP! DRIP!as we slowly wash this mountain of hate,injustice and inequity into the oceans!

Sep 06 08:47

Mitt Romney: Military Cuts May Decimate US Defenses

In the midst of international crises triggered by Russia, China and the Islamic State, the White House and Congress risk "decimation of our defense" – and security – with continued cuts to the nation's military, former Massachusetts Gov. Mitt Romney warns.

Webmaster's Commentary: 

Note that China has now officially made the Special High Interest Targets list!

But Romney is flat out wrong here. The international crisis has been triggered by the US, going back to the Project for the New American Century and its policy of using the United States, the world's sole superpower, to conquer the rest of the planet!

Sep 06 08:40

CDC caught in billion-dollar scheme to to sell vaccines

This is precisely the state of affairs at the Centers for Disease Control. The agency is, first and foremost, a PR machine. It promotes products. For example: vaccines.

So when CDC whistleblower William Thompson emerged from the shadows on August 27 and admitted he’d participated in research fraud, thereby giving the dangerous MMR vaccine a free pass by claiming it had no causal connection to autism…

he was illustrating a primary mission of his employer, the CDC: spread propaganda assuring the public that vaccines are safe.

Science? Are you kidding? The “research” effort of the CDC is just another way to do PR.

Sep 06 08:23

Guatemala Rejects U.S. Trade Law Protecting Monsanto and GMOs

Big Biotech's promise to feed the world, by squeezing out every other choice against the will of the impoverished people intended as the target - is beyond cruel and exploitative. It is another way that the U.S. occupies other countries. How else are other people in these countries supposed to view multiple soft-sanctions on food, but as an act of war?

The people of Guatemala caught on to the deceptive nature of a U.S. Trade Agreement with Central America which was marketed as a way to "modernize" them. It also pretends to protect new seed varieties and paints the seed bearers in need of protection as small farmers. It is actually a way for big biotech and seed companies like Monsanto, DuPont, Duwest, Syngenta, etc. to assume power and immunity as owners of their food supply.

Sep 05 08:32

War Bucks: NATO Leaders to Vow to Lift Military Spending

Leaders of the North Atlantic Treaty Organization will pledge at a summit here to lift their military spending to 2% of each country's gross domestic product over the next 10 years, according to three officials familiar with the negotiations over the summit communiqué.

Sep 05 07:05

NATO Dead, King Dollar Wrecked

the USDollar is under siege despite its rising exchange rate

a Global Paradigm Shift is underway

the Ukraine War has brought about a heightened urgency

Europe must make a decision to preserve its economy, or to support the USD

the European nations will work to install the Gold Standard, and thus will preserve their economies and industry and jobs

Special Forces professional troops from Germany, France, Netherlands, and England are fighting against NATO forces in Ukraine

easy conclusion: NATO IS DEAD

Sep 04 09:26

FLASHBACK 2010 - Is America Becoming A Third World Country?

Webmaster's Commentary: 

We are all Detroit now!

Sep 04 08:46

Export-Import Bank costs taxpayers $2 billion a decade

Ex-Im is a federal agency that subsidizes U.S. exports through direct loans and loan guarantees to foreign countries. Ex-Im’s charter expires this fall, and conservative Republicans want to let the agency die. In its defense, officials at Ex-Im and the White House — joined by lobbyists for manufacturers and banks — typically assert that Ex-Im is free.

“The Ex-Im Bank doesn't cost the American taxpayer a dime,” the U.S. Chamber of Commerce posted on Twitter on May 20. Ex-Im “pays for itself and makes a profit,” Ex-Im President Fred Hochberg likes to say.

False.

Sep 04 08:33

Operation Choke Point could soon grip casinos

It has already hit gun and ammunition dealers. It has shut down pawnshops and short-term lenders. It has caused banks to discharge potentially thousands from their customer rolls who’ve done nothing illegal or improper. The next casualty will be America’s casino and gaming industry.

Operation Choke Point is a government program that the U.S. Department of Justice has said was designed to combat fraud in the marketplace, but its impact has been felt among law-abiding, legitimate businesses far more than unscrupulous bad actors. Operation Choke Point is a joint DOJ and FDIC program that allows these federal agencies to intimidate banks and payment processors into ending financial relationships with lawfully operating businesses. The casino industry is the next target.

Webmaster's Commentary: 

Choke point is another US Government botch-up like the no-fly list, which has some 21,000 people on it even though no actual terrorist has been caught trying to board a US aircraft since 9-11. The government is harming the innocent, failing to catch the guilty, and has the arrogance to demand that you pay for this abuse!

Sep 04 07:59

Monetary policy decisions

At today’s meeting the Governing Council of the ECB took the following monetary policy decisions:

The interest rate on the main refinancing operations of the Eurosystem will be decreased by 10 basis points to 0.05%, starting from the operation to be settled on 10 September 2014.

The interest rate on the marginal lending facility will be decreased by 10 basis points to 0.30%, with effect from 10 September 2014.

The interest rate on the deposit facility will be decreased by 10 basis points to -0.20%, with effect from 10 September 2014.

Sep 03 15:17

European Commission Gives Green Light to More Sanctions Against Russia

The European Commission approved Wednesday a proposal to significantly expand sanctions against Russia, but the final decision is yet to be made by the European Union members.

Sep 03 15:17

Wall Street Declares Victory Against the American People: The Banking Elites are Now Waging War against One Another

Of course, virtually all Democratic aristocrats are already pouring money into the place-holding fundraising campaign for Clinton’s expected entrance into the Democratic Presidential contest.

This means that virtually the entire aristocracy will be flooding Clinton’s Presidential war-chest, unless Jeb Bush seeks the Republican nomination.

Sep 03 14:04

'Hoarding Money' - A New Meme?

Fed: US consumers have decided to 'hoard money' ... One of the great mysteries of the post-financial crisis world is why the U.S. has lacked inflation despite all the money being pumped into the economy. The St. Louis Federal Reserve thinks it has the answer: A paper the central bank branch published this week blames the low level of money movement in large part on consumers and their "willingness to hoard money." – CNBC

Sep 03 12:43

Kurdish ‘ghost’ oil tanker reemerges near Texas – with $100mn cargo

A “ghost ship” oil tanker carrying approximately $100 million of disputed Iraqi Kurdish crude oil has reappeared on satellite imagery near the US coast Monday, after disappearing for several days. The tanker seems not to have offloaded its oil.

According to the US Coast Guard and Reuters, the tanker, United Kalavrvta, is still 95 percent full and has not yet unloaded its cargo. The vessel was anchored Monday in the Galveston Offshore Lightering Area, close to its previously known position.

The Iraqi government has deemed this shipment of Kurdish crude oil illegal. Baghdad filed a lawsuit in the US in June, preventing any purchaser from unloading the Kurdish shipment.

Sep 03 11:54

10 percent of SoCal homeowners remain underwater despite recent increase in home prices.

You would think that the recent rise in home prices across Southern California would be enough to bring most homeowners into a positive equity position. However, we still have 1 out of 10 homeowners in a negative equity position. The total number of homes underwater in SoCal is estimated to be at 288,000 according to CoreLogic. This is a far cry from the 1.1 million underwater homes going back to 2009. Since that time many foreclosures have occurred and many homes have now shifted into the hands of investors.

Sep 03 11:31

Bankruptcy judge orders mediation on Detroit water

The judge handling Detroit’s bankruptcy case has ordered mediation in a lawsuit that seeks to block the city from shutting off water to customers for unpaid bills.

U.S. Bankruptcy Judge Steven Rhodes heard arguments Tuesday on a request for a temporary restraining order from critics of the city’s water department.

Sep 03 10:32

Ukraine to Need Another $19 Billion from the IMF

Ukraine is already on the hook to the IMF to the tune of $16.7 billion. Today the IMF reassessed: Ukraine Crisis Hits Economy and Could Require Bigger loan.?

In its first full review since agreeing a $16.7bn standby facility earlier this year, the IMF warned that the two main risks it had foreseen – intensification of the conflict in the east and a natural gas shut-off by Russia – had materialised.

Sep 03 10:31

Foreign Ownership of U.S. Government Debt Passes $6 Trillion

For the first time in the nation’s history, foreign interests now own more than $6 trillion in U.S. government debt, according to the most recent Treasury Department report on major foreign holders of the debt, which includes the numbers through the end of June.

As of the end of June, foreign owners held $6,013,200,000,000 in U.S. Treasury securities, up from $5,976,500,000,000 as of the end of May.

Sep 03 08:41

Europe Must Unite Against Russia: NSA's Alexander

Gen. Keith Alexander (Ret.), former director of the NSA, comments on the escalating situation in Ukraine. He speaks with Trish Regan on "Street Smart."

Webmaster's Commentary: 
Sep 03 07:07

Coinlation: Measuring the Metal Value of Coins – Base Metal, Gold, and Silver Coins

This website uses a calculator to determine the base metal value of your silver, gold, or copper coins.

http://www.coinflation.com/

Sep 03 06:53

What French Kids Eat For School Lunch (It Puts Americans To Shame!)

There are many theories as to why the French, and French children in particular, do not suffer from weight problems, obesity, diabetes, and hypertension like their American counterparts. Eating moderate quantities of fresh and freshly prepared food at set times of the day is definitely one of the most convincing reasons why they stay lean. Daily exercise, in the form of three recess periods (two 15-minute and one 60-minute recess every day) and walking or biking to and from school, is another.

So what do French kids eat at school?

Sep 03 06:51

Gas costs you THREE times what the energy firms pay: Millions of households being ripped off after wholesale cost halves in six months

British Gas, which supplies around 40 per cent of homes, and other firms are under fire for their costs at a time when the Competition and Markets Authority is holding an inquiry into the energy supply business.

Its parent company, Centrica, announced profits of £900million for the first six months of the financial year. British Gas customers are paying between £1.35 and £1.50 per therm.

Yet the wholesale gas price paid by suppliers has hit a four-year low of less than 42p per therm, down from 72p in December.

Sep 02 14:47

JIM WILLIE — Critical Geopolitical & Monetary Update: NATO is Falling Apart & Germany is Breaking Away From the U.S.

Dr. Jim Willie presents some important recent developments that bode ill for the dollar as Germany, France and other former allies and partners of the US are now aligning themselves with Russia, China and the BRICS bloc. Also, Willie’s source claims Blackwater mercenary group has been captured in Ukraine. “NATO is dead.”

Sep 02 12:35

NATO summit: War or peace?

Twenty-five kilometers of fifteen-foot high, reinforced steel-mesh crowd proof fencing. 20,000 heavily armed, well equipped and dark-uniformed militia have started arriving daily. Military defense plans have been finalized. Already, adrenaline is in the air. There is a fight coming. Is this Gaza?

No. This is the NATO Summit. You, your civil rights, your quest for peace, and your demand for a return to real democracy and pursuit of happiness are not wanted here.

You do not matter!

Sep 02 10:01

FLASHBACK - Venezuela quiting the IMF and World Bank

Venezuelan President Hugo Chavez announced on Monday that his country had decided to withdraw from the International Monetary Fund (IMF) and the World Bank.

Chavez made the announcement at an event to celebrate workers’ rights.

Webmaster's Commentary: 

And that was when Hugo Chavez (and all of Venezuela) made the Special High Interest Targets list, because private central banks cannot allow any nation to operate free from their predations or it sets a bad example for the other slaves!!

Sep 02 09:25

African Bank Probed by Central Bank Following Collapse

African Bank Investments Ltd. (ABL), the South African unsecured lender which collapsed last month after mounting losses, will be investigated by the central bank for evidence of fraud, reckless lending and lack of disclosure.

Sep 02 08:58

Afghanistan's economy is on the verge of a collapse

Power vacuum looms over Afghanistan as UN delays the date for announcing the result of presidential elections to mid-September despite Karzai's plans to leave office next week. Afghan President Hamid Karzai, who came to power after the US-led invasion that toppled the Taliban in 2001, has set a deadline for a new president to take office, but a clear winner has yet to emerge after two rounds of voting. If this happens the country will be literally headless. But during this time of crisis when country's economy is crumbling and a strong leadership is required for drawing down a plan to save Afghan economy from going into deep depression.

People are hoarding their money out of fears of having to flee the country as they fear outbreak of a civil war which gored Afghanistan 1992. This all is because of the political impasse that stares large on the Afghans.

Webmaster's Commentary: 

So, all the US/NATO invasion and occupation has done has been to destroy what little infrastructure there was, and make opium production Afghanistan's top crop of choice.

Just brilliant.

Sep 02 08:46

Nato Plans 'Spearhead' Force To Face Russia

Nato is set to create a high-readiness force and stockpile military equipment in Eastern Europe as a bulwark against potential Russian aggression, the alliance's chief has said.

Secretary General Anders Fogh Rasmussen said the proposed new force could be comprised of several thousand troops contributed to on a rotating basis by the 28 Nato countries.

Backed by air and naval assets, he said the unit would be a spearhead that could be deployed at very short notice to help Nato members defend themselves against any threat, including from Russia.

Nato leaders are to consider the plans at a summit this week in Wales that is likely to be dominated by how the US-led alliance should respond to the Russian-backed separatist uprising in eastern Ukraine.

Ukraine is not a member of Nato, but its UK ambassador told Sky News he backed the move and appealed for Ukraine's allies to step up sanctions and provide military help now.

Webmaster's Commentary: 

The behaviour on the part of NATO, considering that Ukraine is not a part of NATO at this time, can only be characterized as very odd, in light of the fact that they are hyping the formation of a RRF (rapid reaction force)to come to Ukraine's aid against alleged Russian "aggression", when Russia has not been aggressive against Ukraine in the slightest, and that is what OCSE reports on the border have consistently indicated.

It appears that NATO and the US have decided to curtail Russia's economic growth with a war, and Ukraine is simply the excuse.

But were I Poroshenko, I would hesitate to necessarily hitch my geopolitical/economic/military wagon to NATO and the West.

IF past is prologue, he may want to examine the absolute flustercluck NATO and the US have created in Afghanistan, 13 years on, and wonder - very seriously - if what he has done will ultimately have been the right move for the future of his people.

Please, if you have already not done this, now is the time to take care of yourselves and those you care about. Get storable food, water, extra medications, and figure out how you will defend your home in a way with which you are both comfortable and educated.

Something wicked this way comes, and although I don't want to come across as Mrs. Chicken Little of Hawaii, 2014, preparation right now is critical.

I am very concerned about what I see as the US government marching to war against Russia. And unfortunately, just because an idea is the most ham-fistedly, pig-headedly stupid thing this government could possibly do right now, is absolutely no guarantee that they won't do it, and most probably before the mid-term elections....if, in fact, they are held, and we do not see a decree of martial law, to crush dissent against it.

Sep 02 08:21

Not just Argentina: Other nations in debt doldrums

Argentina's lengthy debt saga returned to the spotlight last week, with its second default in only 12 years triggering George Soros and other investors to sue Bank of New York Mellon for withholding interest payments.

This came after Argentina refused to comply with a U.S. legal ruling ordering it to repay $1.3 billion to creditors, triggering a selective default. Moody's Investors Service downgraded its outlook for the country's debt to "negative" at the end of July and confirmed its long-term credit rating at "Caa1"—meaning it views Argentine debt as a highly risky investment at the precarious end of the "junk bond" spectrum.

Argentina is, nonetheless, only one of several countries whose shaky finances leave them on the brink of being unable to repay their obligations. Moody's currently rates 10 other countries' debt as equally or even more risky than that of Argentina. These span the globe, from nearby by Venezuela and Ecuador to Pakistan and Greece.

Webmaster's Commentary: 

In the list that is shown, one interesting factor is that the United States, which is at least 18 trillion dollars in debt (that we know of) is not listed as a country with an economy in deep trouble.

Sep 02 08:07

Even the Council on Foreign Relations Is Saying It: Time to Rain Money on Main Street

When an article appears in Foreign Affairs, the mouthpiece of the policy-setting Council on Foreign Relations, recommending that the Federal Reserve do a money drop directly on the 99%, you know the central bank must be down to its last bullet.

Webmaster's Commentary: 

Sep 02 07:28

Student debt becoming a larger albatross for economic growth: $1.2 trillion in student debt is outstanding and many college graduates working in jobs that don’t require their degree.

There was a time when going to college made sense in every feasible way. It made sense professionally, economically, and many college graduates have a wonderful time in the process of completing their degrees. Most would argue that learning is vital in growing and moving forward. Yet students need to ask whether their return on investment is really worth it? Many people go to college in a compulsory fashion. This is simply the next step after high school. This was an easy decision to make during a time when the costs of going to college were affordable. Today, many schools charge $40,000 and $50,000 per year for a basic undergraduate degree. That is problematic. A large number of recent graduates are now working in positions that don’t require their specific field of study. In other words, they are employed in a field different from their undergraduate degree but still carry forward with mounds of debt.

Sep 02 07:18

The DSKing Of Christine Lagarde: IMF Head Formally Charged In Fraud Probe

A day after France revealed its new government, the person who so eagerly stepped in after DSK's infamous and choreographed fall from grace and the IMF presidency (not to mention his derailed French presidential ambitions, greenlighting Hollande as what would become the worst French president ever), Christine Lagarde is about to be DSKed herself after "someone" clearly has set their sights on the former French finance minister.

Sep 02 07:13

Burger King and Corporate Tax Rates and Revenues

Canada is apparently becoming an attractive place to do business. This week Burger King announced plans to move its headquarters to Canada, via a merger with Tim Hortons. Other U.S. companies that have recently moved or announced plans to move to Canada include Bausch and Lomb, Allergan, and Auxilium. A Bloomberg analysis indicates Tim Hortons was once a U.S. company, until it inverted to Canada in 2009.

Part of the attraction is the substantial tax reforms that occurred over the last 15 years in Canada. First among these is the dramatic reduction in the corporate tax rate, from 43 percent in 2000 to 26 percent today. The U.S. currently has a corporate tax rate of 39 percent, but lawmakers are reluctant to do what Canada did, i.e. lower the tax rate, for fear of losing tax revenue.

Webmaster's Commentary: 

Corporations and individuals will eventually be driven from a high tax government to a lower tax government, especially when the high tax government provides so little in return for the vast sums of cash it demands, choosing support for Wall Street, endless wars, and support for Israel over good roads and other infrastructure essential to business.

Sep 02 07:11

Los Angeles Mayor Proposes $13.25 an Hour Minimum Wage

Los Angeles, the second-largest U.S. city by population, would boost its minimum wage to $13.25 an hour by 2017, almost twice the current federal regulation, under a proposal by Mayor Eric Garcetti.

Sep 02 06:59

China, Zimbabwe ink slew of cooperation deals

China and Zimbabwe have inked several cooperation agreements on finance, agriculture and tourism during a state visit by Zimbabwe President Robert Mugabe.

In a snub to Western nations who have imposed sanctions on leaders in the country, including Mugabe himself, China said the world must respect Zimbabwe’s sovereignty.

Webmaster's Commentary: 

Zimbabwe just made the Special High Interest Targets list!

Sep 02 06:48

Billionaire threatens charity donations if Pope continues support for the poor

Billionaire Ken Langone, the founder of Home Depot issued a warning to Pope Francis during an interview with CNBC which was published this past Monday. In the interview he said that wealthy people such as himself are feeling ostracized by the Pope’s messages in support of the poor, and might stop giving to charity if the Pope continues to make statements criticizing capitalism and income inequality.

Webmaster's Commentary: 

"Your job is to make the poor happy with being poor. 'Meek shall inherit the Earth' and all that!" -- Money Junkies

Sep 02 06:37

Cantor Jumps to Wall Street After Stinging Primary Defeat

Former House Majority Leader Eric Cantor will join investment bank Moelis & Co. as vice chairman and managing director, the company said, adding that Cantor will also be elected to its board.

Sep 02 06:37

Totalitarian Collectivism

The New World Order has been in place for centuries. Is it not time to start calling the NWO by another name? A descriptive term that encapsulates the essence of the beast would be a Nefarious Warrior Organism. Such a phrase strips away the ridiculous notion that there is any order in the malevolent organization of the parasitic global structure, based upon perpetual and permanent warfare. This depiction more closely resembles reality, even if the master mass media refuses to acknowledge How the World Really Works. Discard any condemnation that criticism of the established order rests upon conspiratorial fantasy or pre-medieval prejudices. Explaining away or ignoring basic human nature in a "PC" culture ultimately requires the adoption of a depraved Totalitarian Collectivism system. - See more at: http://www.batr.org/totalitariancollectivism/090114.html#sthash.yP2udA...

Sep 02 06:29

“Russia Invades Ukraine”, Strategic NATO Public Relations Stunt. Where Are The Russian Tanks?

Read the London tabloids. Russia has launched “a full-scale invasion”. A vast propaganda campaign has been launched. Where is the evidence?

The media is spreading “fake evidence” in the week leading up to the Wales NATO Summit.

The objective is to herald Russia as the aggressor.

Sep 02 06:18

Cameron: we will permanently damage Russia's economy

David Cameron has vowed to “turn the ratchet” on Vladimir Putin, as he warned Western sanctions would “permanently” damage the Russian economy.

Moscow banks are running short of funding as investors pull capital out the country, while the rouble and the Russian stock market are falling, the Prime Minister said.

He was speaking ahead of a Nato summit in Wales which will discuss Ukrainian membership of the military alliance.

Sep 02 06:12

Russia has 'severed' partnership with Europe, says Germany

Russia has "effectively severed its partnership" with Europe and wants to establish a new order, German President Joachim Gauck said on Monday (Sep 1).

Webmaster's Commentary: 

Frankly, the overthrow of Ukraine followed by the economic sanctions is what ended the partnership, and nobody is buying that any of this is the fault of Russia!

Sep 02 06:11

The Beginning of World Shift

Anglo-Saxon agression against Russia is taking the form of financial and economic warfare. However, Moscow is preparing for armed hostilities by developing its agricultural self-sufficency and multiplying its alliances. For Thierry Meyssan, after the creation of the caliphate in the Levant, Washington would lay down a new card in September in St. Petersburg. The ability of Russia to maintain its internal stability will determine the course of events.

Sep 02 06:09

Jim WIllie: Saudi's are on the verge of joining Russia in non-dollar oil sales

Last week, Russia announced an game changing shift for energy in which they are now allowing the sale of oil and natural gas to be done in both Roubles and Yuan, bypassing the dollar and cracking the 40 year old petro-dollar system. And on Aug. 31, Dr. Jim Willie reported during an interview with TFMetals Report that this break away from U.S. hegemony over the purchasing of oil is not being limited to just Russia, but that the foundational country of petro-dollar origin, Saudi Arabia, is in talks with the Eurasian energy giant to join them in a partnership that will also disconnect the Arab Kingdom from the dollar, and open energy sales within the OPEC nations to be done in Roubles, Yuan, and perhaps even the Euro.

Sep 01 08:42

NATO Membership For Ukraine – Another Move On The Grand Chessboard

As the geopolitical tug of war continues to take place over the ravaged country of Ukraine, both sides of the conflict – NATO and Russia – have begun taking steps toward a more solidified structure of alliances that will no doubt have massive reverberations across the world and possibly lead to direct confrontation between nuclear powers.

Indeed, as further evidence that the Western NATO bloc desires an ultimate conflict with Russia and the BRICS powers, NATO Secretary General Anders Fogh Rasmussen has indicated that Ukraine is firmly on the path to become an eventual member of the NATO alliance.

Simultaneously, West Ukrainian Prime Minister Arseny Yatseniyuk submitted a bill to the Ukrainian Verkhovna Rada that would cancel Ukraine’s “non-aligned” status and restart Ukraine’s official attempt to become a member of NATO.

Webmaster's Commentary: 

Yatseniyuk and Poroshenko have an industrial-strength problem here, and that is one of timing.

The next NATO General Assembly happens this Thursday and Friday in Cardiff, Wales, and NATO has not indicated that it will be adding new members at this time. They may have an emergency consultation after that to bring Ukraine in, but NATO leadership understands that Ukraine has really nothing to give NATO, save for a potential military confrontation with Russia, and because of the effect of existing sanctions against Russia (which may result in a potential turn off of gas which Europe desperately needs), may be very hesitant to accept Ukraine as a member.

Ukraine is dead broke, and in arrears on its payment to GAZPROM, the Russian energy company from which it gets the majority of its energy.

Ukraine may well balkanize, due to its financial problems, long before NATO deliberations on its membership have come to fruition, at which time the issue will become moot, and such a balkanization will put Russia in the ascendency once again.

Sep 01 08:02

The U.S. Is Now a ‘Third World’ Country

The measure of “extreme poverty” used here is based on one of the World Bank’s key indicators of global poverty: $2 per person, per day. Tellingly, the World Bank does not release official estimates for the United States for this metric because it is meant to capture poverty based on “the standards of the poorest countries.” … Living below this metric is widely considered to be a marker of extreme destitution, which is assumed to be very uncommon among wealthy nations.

They further explain:

Households are counted as being in extreme poverty if they report $2 dollars or less per person, per day in total household income in a given month (approximated as $60 per person, per month in 2011 dollars). … The official poverty line for a family of three would equate to roughly $17.00 per person, per day, averaged over a year, so our measure is roughly 13 percent of the official poverty line.

Webmaster's Commentary: 

Please remember; whenever Obama spouts off about an "economic recovery", he is only talking about the 1 percenters and the banks, and that is it.

Sep 01 06:54

Bloomberg Primes the Pump of the Deflationary Dialectic

Bloomberg offers two editorials on Europe that tell us economic growth is not going well. The one above speaks to the issue of Mario Draghi's lack of courage in terms of implementing a program of aggressive money printing.

The other one, which we excerpt below, is a kind of call to arms by Bloomberg itself – via its editorial staff – demanding that Europe's leaders scrap the fiscal pact negotiated in 2012 that mandates certain austerity measures.

Taken together, they seem to be indicating a certain level of distress, and yet there are other ways to regard this double-barreled explosion of concern over the EU's still-eroding economic condition.

Webmaster's Commentary: 

So, let's make things worse with a pointless sanctions war with Russia!

Sep 01 06:45

Persistent Unemployment Still A Major Problem In The U.S.

While the mainstream media in the U.S. is desperately trying to sell the false narrative that the national economy is “on the rise” again, Iran’s PressTV is more willing to tell us the red pill truth. The fact of the matter is things are really bad, and we are not going through some sort of Cinderella story of economic redemption.

New data shows there is a persistent unemployment problem in the United States. In fact, the number of people relying on the government for food or housing assistance is still at record levels. For those that do have a job, more Americans than ever are dealing with the sobering reality of earning the minimum wage.

Aug 31 17:15

ON LABOUR DAY, AND EVERY OTHER DAY, LOOK FOR THE UNION LABEL

Labor Day has arrived, and families across the country will be getting their backyards ready for barbecues. In progressive circles, a familiar message is making the rounds: Buy union. Make sure your grill is a Weber or Thermador, made by union hands. Eat Butterball and Hebrew National franks. A list of brands has been circulating on social media sites with the goal of urging pro-labor consumers to support members of the Bakery, Confectionary, Tobacco Workers and Grain Millers International Union, the United Food and Commercial Workers, and other food sector and manufacturing unions.

Aug 31 09:20

Ecuador to replace the US dollar with its own digital currency

Ecuador is planning to create the world’s first digital currency issued by the country’s central bank, in what is seen by many as a step to abandon the US dollar, the currency now used by the Central American country.

The currency is expected to start circulating in December, according to the country’s Central Bank.

The technical details or the name of the currency have not been revealed, although the officials stated that it would not be a crypto-currency like Bitcoin.

The new currency is expected to co-exist with the US dollar, the current official money Ecuador uses, and will be channeled for 2.8 million people in the country – 40 per cent of the participants in the economy – who are too poor to afford the usual banking.

Use of the currency will be voluntary, and it will not be used to pay the state employees.

It will be possible to make and get payments via cellphones, Central Bank’s deputy director Gustavo Solorzano told AP.

Webmaster's Commentary: 

"The Ecuadorian government is poised to do WHAT?!?!?

INVADE NOW!!!!" Official Federal Reserve Souse.

Aug 31 09:01

The Economics Of Perpetual War

Art of War actually states that “no country has ever profited from protracted warfare,” and cautions generals to “fight under Heaven with the paramount aim of ‘preservation.’” Yet as far back as we have historical records, these sorts of ideas have fallen on deaf ears among governments and military organizations alike.

Webmaster's Commentary: 

The only people who profit from wars are the bankers who create money out of thin air then loan it to the warring parties at ruinous interest!

Aug 31 08:58

French President Says "There Is Risk Of War" As Europe Plans Additional Russia Sanctions

For months Europe had thought that mere verbal (and hollow) threats, populist posturing and propaganda would be enough to force Russia's Putin to back off and withdraw from the endless Ukraine escalation, into a Kremlin cocoon with his tail between his legs. What they didn't anticipate was that Putin would in no way back down (as that would be seen as defeat and weakness by his numerous internal foes), nor would have have to: with Russia providing a third of European gas and with winter approaching, Russia had all the trumps cards from day one.

Aug 30 09:18

Dunkin' Donuts Worker's Death Reveals The True Cost Of Our Low-Wage, Part-Time Economy

A New Jersey woman died earlier this week trying to catch a few hours of sleep between jobs, a chilling reminder of the struggle low-wage workers, particularly women, face making ends meet.

Police found Maria Fernandes dead in her car on Monday night, parked in a convenience-store parking lot in Elizabeth, N.J., according to a police press release. Fernandes, 32, was wearing a Dunkin’ Donuts uniform when she was found. A friend and fellow employees told officials she worked as many as four jobs, said Lt. Daniel Saulnier, a spokesman for the Elizabeth police department.

Webmaster's Commentary: 

Did no one at any of her jobs understand how extremely dangerous and difficult her situation was?!? And working 4 jobs, just to survive, when did THAT become corporate America's answer to the "American Dream"?!?

Was there not any family willing to help out?!? Where was just a touch of love and humanity for this woman which could have saved her?!?

I am sure none of the executives of Dunkin' Donuts are losing any sleep over this incident; this woman's death was simply collateral damage, and she was completely expendible; after all, there will be hundreds of others clamoring to get her job, right?!?

Corporations by definition have no morals whatsoever, and are simply obligated to provide profits for shareholders, period, end of discussion.

Aug 30 08:54

Permanent temps: What your life as an ‘elderly migrant’ worker will be like when you can’t retire

Jessica Bruder: Though no one keeps an official tally of how many older Americans are doing this kind of work, their ranks appear to be growing rapidly in the wake of the housing bust and market crashes.

Amazon first hired a handful of migrant full-time RVers in 2008 through a program the company later named “CamperForce.” As of 2014, it had expanded to employ some 2,000 workers, according to a recruiter I met in Quartzsite, Arizona. The American Crystal Sugar Company taps the same labor pool each fall to staff its annual sugar beet harvest, and their recruitment numbers are up, too. This year, they’re hoping to recruit 600 “workampers,” up from 450 the year before.

LP: What’s the gender breakdown among these traveling workers? What kinds of work are men and women doing?

Webmaster's Commentary: 

Absoflippinglutely unbelievable.

At a time when people should be enjoying at least some leisure, far too many Americans are working like slaves at rock bottom wages.

What is wrong with this?!?

EVERYTHING.

Aug 29 10:19

Poverty Capitalism in 2014 – Introducing Private Probation Companies

As N.P.R. reported in May, services that “were once free, including those that are constitutionally required,” are now frequently billed to offenders: the cost of a public defender, room and board when jailed, probation and parole supervision, electronic monitoring devices, arrest warrants, drug and alcohol testing, and D.N.A. sampling. This can go to extraordinary lengths: in Washington state, N.P.R. found, offenders even “get charged a fee for a jury trial — with a 12-person jury costing $250, twice the fee for a six-person jury.”

Webmaster's Commentary: 

In Sweden, they are emptying their prisons, because the sole focus is rehabilitation, and that approach is working close to perfectly.

But in the US, the prison-industrial complex is about profit, rather than rehabilitation, so the process - and profits - grind on. Talk about the inhumanity!!

Aug 29 09:54

How The US Militarizes The World’s Police, Not Just Ferguson’s

Since then, the world has watched the streets of Ferguson turn into a battleground, as heavily armed police officers fired tear gas, shot rubber bullets and pointed guns at protesters denouncing Brown’s killing.

“Solidarity with Ferguson,” tweeted Mariam Barghouti from Palestine. “Remember to not touch your face when tear gassed or put water on it. Instead use milk or coke.”

Numerous people — domestic and abroad — have expressed outrage at the militaristic response of local police against protesters, journalists, and people of color.

“Urban Shield plays a leading role in the globalization of repression.”

Since the protests erupted earlier this month, many have called into question the US Defense Department’s 1033 program, which allows surplus military equipment to be transferred to local police departments for counter-narcotics and counter-terrorism operations.

Webmaster's Commentary: 

Ultimately, the only way "security" is created is through meaningful work, at decent wages, coupled with lifetime education, and money which is created as a public utility, not a loan at interest upon its issuance.

Any other way, which consistently favors suppression as a way of snuffing out dissent, is ultimately doomed to failure.

Aug 29 09:11

BDS GAINING MOMENTUM IN EUROPE

The war in Gaza and its aftermath have inflamed opinion in Europe and, experts and analysts say, are likely to increase support for the movement to boycott, disinvest from and sanction Israel, known as BDS.

Aug 29 06:01

Why Americans Are So Sensitive To Even The Smallest Increase In Prices

In the last year, even the 'smartest men in the room' PhDs with advanced degrees have seen their wages shrink, according to a new study by the Economic Policy Institute. As The WSJ notes, inflation has been low by most measures in recent years, but wage growth for the majority of workers has been even lower.

Aug 27 12:58

Do not use Safety Deposit Boxes

According to in-house memos now circulating, the DHS has issued orders to banks across America which announce to them that “under the Patriot Act” the DHS has the absolute right to seize, without any warrant whatsoever, any and all customer bank accounts, to make “periodic and unannounced” visits to any bank to open and inspect the contents of “selected safe deposit boxes.”

Further, the DHS “shall, at the discretion of the agent supervising the search, remove, photograph or seize as evidence” any of the following items “bar gold, gold coins, firearms of any kind unless manufactured prior to 1878, documents such as passports or foreign bank account records, pornography or any material that, in the opinion of the agent, shall be deemed of to be of a contraband nature.”

Aug 27 09:33

US Surveillance Flights A Step Toward Expanding War Into Syria

Officials confirmed the move toward surveillance flights over ISIS targets in Syria, leaving somewhat open the question of when the US is going to start launching airstrikes against targets inside Syria, expanding the Iraq War across the border.

Yet it’s not really a question of if, but when, as the surveillance flights are clearly the first step toward such attacks. The primary question is how to start launching such attacks without Syrian coordination, since officials want to avoid the appearance of cooperating with Syria.

The questions abound about expanding the war into Syria and are mostly unanswered, with Gen. Dempsey pushing the attacks, and the US already giving targeting intel to Syria’s government for the ISIS war.

Webmaster's Commentary: 

The real reason the US government is going into Syria, and back into Iraq, is that with ISIS controlling so much of the oil (at 2 to 3 million dollars of revenue per day), the oil is not being sold in US dollars, but other denominations.

This is about wrestling back economic control of the oil, and the currency in which is is sold.

Aug 27 09:07

Russia’s Gazprom Neft to Sell Oil for Rubles, Yuan

The Russian oil company Gazprom Neft has agreed to export 80,000 tons of oil from Novoportovskoye field in the Arctic; it will accept payment in rubles, and will also deliver oil via the Eastern Siberia-Pacific Ocean pipeline (ESPO), accepting payment in Chinese yuan for the transfers, the Russian business daily Kommersant reported Wednesday.

The Russian government and several of the country’s largest exporters have widely discussed the possibility of accepting payments in rubles for oil exports.

Last week, Russia began to ship oil from the Novoportovskoye field to Europe by sea. Two oil tankers are expected to arrive in Europe in September. According to Kommersant, the payment for these shipments will be received in rubles.

Gazprom Neft will not only accept payments in rubles; subsequent transfers via the ESPO may be paid for in yuan, the newspaper reported.

According to the newspaper, the change in currency was made because of the Western sanctions against Russia.

Webmaster's Commentary: 

And please note that the US dollar has been neatly expunged from any of these transactions!!

Aug 27 08:46

Western sanctions push Russia, China closer; hurt dollar

y forcing Russia to conduct more business in the yuan and other Asian currencies, the U.S. may be speeding up the end of the petrodollar and giving China more prominence on the world stage.

As the West tightens financial sanctions against Russia over the conflict in Ukraine, Russian businesses are reducing their exposure to the dollar to minimize the damage from still tougher punishments. Many of these businesses have turned to the Hong Kong dollar as an alternative to the greenback.

Russian mobile phone carrier MegaFon said it will convert 40% of its dollar- and euro-denominated cash reserves into Hong Kong dollars.

Major nonferrous metal producer Norilsk Nickel has also decided to shift its U.S. dollar funds into the Hong Kong dollar.

Webmaster's Commentary: 

It has become painfully obvious that a major, mandatory prerequisite for working for this Administration is the pathological inability to think things through to their logical conclusion.

I am having an industrial strength, palm to forehead moment, at velocity, upon reading this!!

Aug 27 08:41

Ten more countries that may default on debt after Argentina

Argentina defaulted for the second time in 12 years after hopes for a midnight deal with holdout creditors were dashed, setting up stock and bond prices for declines on Thursday and raising chances a recession could worsen this year.

After a long legal battle with hedge funds that rejected Argentina’s debt restructuring following its 2002 default, Latin America’s third-biggest economy failed to strike a deal in time to meet a midnight deadline for a coupon payment on exchange bonds.

Even a short default will raise companies’ borrowing costs, pile more pressure on the peso, drain dwindling foreign reserves and fuel one of the world’s highest inflation rates.

However, Argentina is not the only country that has struggled to pay its debt recently. There are 10 other countries currently on Moody’s lists with a rating of Caa1 or worse, meaning they are at risk of default.

Webmaster's Commentary: 

IT is amazing that the United States is not on this list, as the economy is very shaky, no matter how the stock market looks right now, and the value of the US dollar is under siege through consistent "qualitative easing" by the Fed.

Aug 27 06:59

Will Republicans Block Action On Corporations Abandoning The U.S.?

There is legislation before Congress to do something about corporations renouncing their US "citizenship." The odds are that Republicans will block it -- and not just because they have obstructed everything else.

There is a wave of news about corporations using a technicality called an "inversion" to renounce their US "citizenship." An inversion is when a US company buys or merges with a non-US company, and then pretends it is no longer a US company. Today it's Burger King. Not long ago it was Walgreens.

Keep Same Executives, Employees, Facilities And Customers

Aug 27 06:56

European Parliament Fails to Calculate Impact of Sanctions Prior to Implementation

The European Parliament did not conduct any of its own official studies on the impact of its sanctions against Russia prior to their implementation or to this day, said Director-General of the European Parliamentary Research Service (EPRS) Anthony Teasdale and Secretary-General of the European Parliament (EP) Klaus Welle on Tuesday.

“On sanctions, no we have not, in the European Parliament Research Service, done any analysis on the financial implications,” said Teasdale in response to a question from RIA Novosti at a Wilson Center event on EU economic integration.

He said there had been no requests from parliamentary committees, noting that “the committees have not been meeting for the last three or four months, because we’ve been having European elections.”

Aug 27 06:41

IMF chief Christine Lagarde under investigation in France

Christine Lagarde, the chief of the International Monetary Fund, was placed under official investigation Wednesday for negligence in a French corruption probe that dates back to her days as France’s finance minister.

In a statement after a fourth round of questioning before magistrates, Lagarde said she would return to her work in Washington later in the day and said the decision was “without basis.”

She and her former chief of staff face questions about their role in a 400 million-euro ($531 million) payment to a businessman.

Aug 26 10:29

Detroit to send crews for water service shutoff today as moratorium ends

Detroit says the last of a series of "water fairs" has helped at least 1,300 residents avoid having their taps run dry as a shutoff moratorium ends.

Monday marked the end of the water shutoff moratorium, and the Detroit Water and Sewerage Department was expected to send crews out Tuesday to turn off service to customers who owe money and haven't made a payment arrangement.

Webmaster's Commentary: 

US aid to Israel; at least three billion a year!

US aid to Detroit; ZERO, ZIP, NADA!

Aug 26 08:51

What economic recovery?

Would you stand in line, for hours, in 91°F temp under the scorching sun, for a box of free food?

More than a thousand people in Miami did just that on Friday, Aug. 22.

Aug 26 08:46

Russia to Protect National Interests if West Imposes New Sanctions – Lavrov

Russia will do everything possible to protect its legitimate interests and national security if the West decides on new sanctions, but prefers to stay away from the “road of escalation”, Russian Foreign Minister Sergei Lavrov said.

Webmaster's Commentary: 

"Escalation is what we DO!" -- Official White Horse Souse

Aug 26 08:37

Colonization by Bankruptcy: The High-stakes Chess Match for Argentina

Argentina is playing hardball with the vulture funds, which have been trying to force it into an involuntary bankruptcy. The vultures are demanding what amounts to a 600% return on bonds bought for pennies on the dollar, defeating a 2005 settlement in which 92% of creditors agreed to accept a 70% haircut on their bonds. A US court has backed the vulture funds; but last week, Argentina sidestepped its jurisdiction by transferring the trustee for payment from Bank of New York Mellon to its own central bank. That play, if approved by the Argentine Congress, will allow the country to continue making payments under its 2005 settlement, avoiding default on the majority of its bonds.

Aug 26 08:36

Outrage as Burger King eyes move to Canada over taxes

What Burger King is trying to do here is called " corporate inversion". This means a U.S. Corporation buys a foreign company and relocates its headquarters to their country and avoids the crippling Corporate tax rate in the U.S. It's 35% here while in the rest of the world it's about averaging 20% (Ireland is 15%). This saves billions of dollars in taxes for them.

Webmaster's Commentary: 

When you have a private central bank, debt always grows faster than the money with which to pay that debt, until the accumulated debt forces the government into higher taxation and lower spending on infrastructure needed to support business, until companies and individuals are left with no choice but to relocate to more attractive locations. Burger King is not the villain here. The villain is the US Government which 100 years ago sold the American people back into the slavery of the very same system of predatory banking we fought a revolution to break free of, and for that last 100 years refusing to do anything about it, even as the obvious danger signs flashed before their eyes.

Aug 26 08:25

Top general: Islamic State extremists will ‘soon’ pose a threat to the United States

The US military’s top general believes Islamic State extremists will “soon” pose a threat to America and Europe and that an international coalition will be needed to confront it, his spokesman said Monday.

US commanders are preparing possible “options” to counter IS jihadists both in Iraq as well as Syria, according to General Martin Dempsey’s spokesman, Colonel Ed Thomas.

Defense Secretary Chuck Hagel adopted a more strident tone last week at a Pentagon news conference, suggesting the IS militants presented a dire threat that surpassed the danger posed by the Al-Qaeda network.

But Pentagon officials insisted Hagel and Dempsey shared the same views on the IS.

Dempsey “believes that ISIS (Islamic State) is a regional threat that will soon become a threat to the United States and Europe,” Thomas said in a statement.

“He (Dempsey) believes that ISIS must be pressured both in Iraq and in Syria,” he added.

Webmaster's Commentary: 

A memo to Defense Secretary Hagel and General Dempsey: could you possibly telegraph anymore loudly that some elements in this country are gearing up for another false flag, upon which to justify yet more war against....whoever the next target is supposed to be, to prevent the collapse of the US dollar?

Gentlemen, I would strongly suggest to you that IF there is another false flag in this country, skeptical, war-weary Americans will have no stomach for it whatsoever.

Iraq has cratered; Afghanistan is cratering, and Libya has cratered, not to mention other military interventions we're not supposed to know about (like the humanitarian catastrophe in Yemen.)

And if such an even happens, it will demonstrate, incontrovertibly, that everything this country's military and security agencies have done to prevent it have been absolutely, thoroughly, useless and irrelevant!!

And that, gentlemen,is when the American people will wake up, and get angry.

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