ECONOMY | WHAT REALLY HAPPENED


ECONOMY

Dec 07 09:08

Belgium Investigating To Repatriate All Gold Reserves

In Europe so far; Germany has been repatriating gold since 2012 from the US and France, The Netherlands has repatriated 122.5 tonnes a few weeks ago from the US, soon after Marine Le Pen, leader of the Front National party of France, penned an open letter to Christian Noyer, governor of the Bank of France, requesting that the country’s gold holdings be repatriated back to France, and now Belgium is making a move. Who’s next? And why are all these countries seemingly so nervous to get their gold ASAP on own soil?

Dec 07 08:10

Hidden Homeless: One In Five Young People ‘Sofa Surfed’ In The Last Year

Research reveals how one in five young people across Britain have ‘sofa surfed’ from one couch to another over the past year, because they have nowhere else to go.

Dec 07 07:50

Russia's Central Bank Hit by Accusations of Sabotaging Ruble

The Prosecutor General's Office is looking into the Central Bank's operations after a ruling party lawmaker accused it being an "enemy of the country" by supposedly driving down the ruble and plotting "evil" against Russia.

The ruble weakened over 6 percent to the U.S. dollar over Monday and Tuesday amid Western sanctions against Moscow's over its policy on Ukraine and slumping energy prices. But Yevgeny Fyodorov, a United Russia lawmaker and member of the State Duma's Budget and Tax Committee, charged that the troubles were the Central Bank's fault.

"The Central Bank is an institutional enemy of the country," Fyodorov told Russian News Service radio on Monday. "Its bosses are officially abroad. I am assuming that it will do the maximum evil. The Central Bank will do everything to have the ruble rate fall."

Webmaster's Commentary: 

Private Central Banks are an institutional enemy of every nation they have enslaved.

Dec 06 19:37

WARNING: Economic CRASH 2015 Decoded IMF

Dec 06 13:06

More than 100% of SPY gains occur overnight

Dec 06 12:49

Italy's credit rating lowered by S&P

Standard & Poor's on Friday lowered Italy's credit rating by one notch on concerns about weak growth and increasing debt while maintaining a stable outlook.

Dec 06 11:24

'Unauthorized' Aliens With Jobs Outnumber Non-College-Grad Adults Seeking One

“Unauthorized workers” are aliens living in the United States who do not have a legal right to work here.

Dec 06 11:14

The US Is No Longer The World's #1 Economy

It's Official (Finally)

Dec 06 10:41

Disgusted, Russia Officially Gives Up Any Pretense of “Dialog” With the AngloZionist Empire

It is painfully clear that Russia considers the USA an arrogant bully which Russia can stop and that Russia considers the regimes in power in the EU as voiceless colonies. Equally clear is the fact that the Russians are fed up with trying to plead or reason with anybody in the West. The Americans are too arrogant, the Europeans too spineless.

On March 1st of this year I wrote a piece entitled “Obama just made things much, much worse in the Ukraine – now Russia is ready for war“. Russia did not want that war, it was imposed on her at a time when Russia was not ready. Nevertheless, today Putin informed us all that Russia refuses to submit, that she accepts the challenge and that she will prevail.

Dec 06 10:35

America on “Hot War Footing” as House Paves Way for War with Russia

Mainstream Media Blacks Out as U.S. House of Representatives Passes Dark War on Russia Resolution 758.

America is on a war footing. While, a World War Three Scenario has been on the drawing board of the Pentagon for more than ten years, military action against Russia is now contemplated at an “operational level”. Similarly, both the Senate and the House have introduced enabling legislation which provides legitimacy to conduct a war against Russia.

The adoption of a major piece of legislation by the US House of Representatives on December 4th (H. Res. 758) would provide (pending a vote in the Senate) a de facto green light to the US president and commander in chief to initiate –without congressional approval– a process of military confrontation with Russia.

Global security is at stake. This historic vote –which potentially could affect the lives of hundreds of millions of people Worldwide– has received virtually no media coverage. A total media blackout prevails.

Dec 06 09:36

Wall Street Moves to Put Taxpayers on the Hook for Derivatives Trades

Wall Street lobbyists are trying to secure taxpayer backing for many derivatives trades as part of budget talks to avert a government shutdown.

According to multiple Democratic sources, banks are pushing hard to include the controversial provision in funding legislation that would keep the government operating after Dec. 11. Top negotiators in the House are taking the derivatives provision seriously, and may include it in the final bill, the sources said.

The bank perks are not a traditional budget item. They would allow financial institutions to trade certain financial derivatives from subsidiaries that are insured by the Federal Deposit Insurance Corp. — potentially putting taxpayers on the hook for losses caused by the risky contracts. Big Wall Street banks had typically traded derivatives from these FDIC-backed units, but the 2010 Dodd-Frank financial reform law required them to move many of the transactions to other subsidiaries that are not insured by taxpayers.

Webmaster's Commentary: 

IF there was ever a time to call Rivero's Rangers to keyboards, it is now.

Write/email/fax/phone your Congressional Representative and let them know that IF this bill is passed in this form, that you would rather have a goat, or a dog represent you, than this current cache of purchased weasels who allegedly represent you now.

And please remember: Congress no longer represents We the People; they represent Those, the Corporations. We the People have become irrelevant and expendable. That is why these idiots in Congress believe that they can get away with this crud.

Then, be pro-active. Do not have any more money in your bank than you need for paying bills. In fact, and even though it is more expensive, pay your bills with money orders if possible. There are many businesses which will still take cash, and it has not yet been made illegal to do so.

Make sure you have small amounts of gold and silver for barter. Because if Congress is about to pass legislation like this, the excrement is very near to hitting the ventilation shaft, and I mean really, really soon.

Dec 06 08:59

Jeykll Islands About To Break!!

In this powerful, eye-opening film, investigative journalist and award-winning filmmaker Bill Still (“The Money Masters” and “The Secret of Oz”) unravels the secretive 1913 formation of the privately owned Federal Reserve and the creation of National Debt by Senator Nelson W. Aldrich and representatives of J.P. Morgan, Rockefeller and Kuhn, Loeb & Co., at Jekyll Island in Georgia, USA . Still reveals the greatest rip-off in history: the real ways in which money and debt are created and controlled. Jekyll Island argues the case that economic depressions are abnormal, that nations across the globe do not need national debt, and that governments are not printing too much money, but borrowing wildly. In the face of mounting debts and a reduction in the standards of living worldwide, he explains that those who are profiting from this crippling financial problem, want us, the public, to remain confused about what money really is and how it was created.

Dec 05 22:34

Here It Comes Seattle: “Stupidity Has A Price”

Stupidity has a price — in this case the price is that you get to live under a freeway overpass.

Dec 05 18:11

Historical Weakness in December's Second Week

Dec 05 17:32

Rick Rule: Keep control of your own gold

Dec 05 14:49

Labor Force Participation Remains at 36-Year Low

The labor force participation rate remained at a 36-year low of 62.8 percent in November, according to the Bureau of Labor Statistics.

Dec 05 13:51

CREATOR OF ‘LIBERTY DOLLAR’ SENTENCED TO HOME DETENTION

Bernard von NotHaus, who was convicted in 2011 of counterfeiting charges for minting and distributing a form of private money called the Liberty Dollar, has finally been sentenced. U.S. District Judge Richard Vorhees upheld the conviction but sentenced 70-year old NotHaus to only six months house arrest. Federal prosecutors had asked for a sentence of between 14 and 17 years in prison.

Dec 05 13:34

Americans Bought More Guns Than Flat Screen TV’s On Black Friday

Shoppers participating in the post-Thanksgiving consumerist phenomenon known as Black Friday typically tend to purchase useless material possessions they don’t really need.

This past holiday, however, many Americans demonstrated that they’re more interested in their Second Amendment rights than flat screen TVs or cheap DVDs.

According to the FBI, last Friday saw a staggering 175,000 background checks processed via the agency’s National Instant Criminal Background Check System, a number the agency says made Friday the second highest gun purchase day ever.

Dec 05 11:22

Growth forecast for German economy slashed in HALF after ECB keeps eurozone investors waiting for money-printing stimulus

Germany's economic growth next year will be half the level previously expected, according to forecasts from its central bank today.

The Bundesbank slashed its 2015 growth forecast for Europe's largest economy to 1.0 per cent next year, compared with its June estimate of 2.0 per cent.

The drastic downgrade comes after the European Central Bank disappointed investors yesterday by failing to pull the trigger on monetary stimulus for an ailing eurozone that faces the twin threats of recession and deflation.

Dec 05 10:51

The U.S. Spent $7 Billion Developing This Helicopter It Never Built

The Kiowa Warrior is slated to retire in 2025, the Chinook in 2035, and both the Apache and Black Hawk will be gone by 2040. We thought we had a suitable replacement for all of these platforms in the Boeing-Sikorsky RAH-66 Comanche. But then, this next-gen stealth chopper vanished in a puff of bureaucratic smoke.

Dec 05 09:31

Silicon Valley clears out notorious homeless ‘Jungle’ camp

Authorities began Thursday dismantling a notorious homeless camp known as “The Jungle” in the heart of California’s affluent Silicon Valley.

Municipal workers in white overalls and face masks moved into the camp along a creek in San Jose, where some 300 people live in tents and other makeshift lodging.

The encampment, only a few minutes away from the city’s downtown district, is home to people forced out of an overheating rental market as lucrative tech companies moved in in recent years.

“We have been rehousing for the last 18 months,” San Jose city spokesman David Vossbrink told AFP, saying they had found places for some 140 people in shelters, with some in hotels and motels.

Some 60 other people had received offers of rent subsidies but have not yet found somewhere to live, he added.

The operation to close down the camp will last two or three weeks, and will include putting up a reinforced fence to prevent anyone coming back and settling in again.

Webmaster's Commentary: 

I am stunned that apparently, San Jose is unable to learn that there are far better ways of handling this than just chasing the indigent out of homeless encampments. As reported at nationofchange.org:

In eight years, Utah has quietly reduced homelessness by 78 percent, and is on track to end homelessness by 2015. How did Utah accomplish this? Simple. Utah solved homelessness by giving people homes. In 2005, Utah figured out that the annual cost of E.R. visits and jail stays for homeless people was about $16,670 per person, compared to $11,000 to provide each homeless person with an apartment and a social worker. So, the state began giving away apartments, with no strings attached. Each participant in Utah’s Housing First program also gets a caseworker to help them become self-sufficient, but they keep the apartment even if they fail. The program has been so successful that other states are hoping to achieve similar results with programs modeled on Utah’s. It sounds like Utah borrowed a page from Homes Not Handcuffs, the 2009 report by The National Law Center on Homelessness & Poverty and The National Coalition for the Homeless. Using a 2004 survey and anecdotal evidence from activists, the report concluded that permanent housing for the homeless is cheaper than criminalization. Housing is not only more human, it’s economical. This happened in a Republican state! Republicans in Congress would probably have required the homeless to take a drug test before getting an apartment, denied apartments to homeless people with criminal records, and evicted those who failed to become self-sufficient after five years or so. But Utah’s results show that even conservative states can solve problems like homelessness with decidedly progressive solutions.

Congrats, Utah State government; what you have done in this regard is monumentally inspiring, and should give a clue to the clueless in other state and city governments about how to solve the problem of homelessness permanently, and spend much less of the state's money in the process.

Dec 05 09:10

Obama: "It's not a sexy argument to make to the public, but we are younger than our competitors. And that is entirely because of immigration."

Obama had some interesting admissions to make at a speech he made th the Business Roundtable Tuesday in Washington, D.C.
He began "It's not a sexy argument to make to the public, but we are younger than our competitors. And that is entirely because of immigration...And we should want that to continue."

Regarding the mass exodus of illegal alien children into the U.S. earlier this year, Obama condescendingly remarked "There was a spike in concern about the borders because those kids had been coming up from Central America during the summer and it got two weeks of wall-to-wall coverage until everybody forgot about it."

Dec 05 08:57

Shale Liquidations Begin? Sub-$50 Oil Appears In North Dakota

When ISIS dared to steal and sell oil at below market rates, they were dire pirates that needed to be destroyed (and anyone who dared to buy it was pariah). So when, as Bloomberg reports, crude sold at the wellhead in the Bakken shale region in North Dakota fell to $49.69 a barrel on Nov. 28 (according to the marketing arm of Plains All American Pipeline), you know there is an issue in the US Shale industry. As one analyst notes, "to a producer in Wyoming, if Brent’s $70 then I’m at $50, then I have to start asking does it economically make sense to keep drilli

Dec 05 08:49

Crashing Yen Leads To Record Number Of Japanese Bankruptcies

Last week, Zero Hedge first showed a chart so simple, even a Krugman could get it: at this point (and really ever since USDJPY 110 and higher), any incremental Yen devaluation is destructive for the Japanese economy, leading to an unprecedented surge in defaults. And here is Japan Times confirming what we said, with a report that "Corporate bankruptcies linked to the yen’s slide hit a new record in November, highlighting the strains on small and midsize companies as Prime Minister Shinzo Abe campaigns for re-election on his deflation-busting economic strategy."

Dec 05 08:34

Why Britain's bill for foreign aid 'is set to rise by £1bn': Cost to taxpayers set to go up because national income has risen

While other departments have seen their spending slashed over the past four years, foreign aid has been ring-fenced and was set to hit £12billion by the end of this year.

Under the new calculations, it should rise to £12.4billion this year to meet the target – effectively giving the Department for International Development three weeks to spend another £400million.

Next year, the aid budget would have to increase by £550million to £12.75billion.

Dec 05 08:33

Osborne is banking on a £360billion borrowing binge using credit cards and overdrafts to make his figures add up

George Osborne is banking on the British public maxing out credit cards in a £360billion spending spree to make his figures add up.

By the end of the decade, official forecasts expect us to have run up almost £800billion in unsecured loans, overdrafts and credit cards, up from just £430billion today.

The huge increase in household debt is required to fuel the economic growth which the Chancellor hopes will help to balance the books by 2018.

Dec 05 08:26

These bastards are the cause of all global strife

Dec 05 08:20

Cutting Russia out of SWIFT banking system would mean ‘war’ – head of VTB

Excluding Russia from the global SWIFT banking transactions system is another form of sanctions and would mean “war,” said Andrey Kostin, head of VTB Russia’s second largest bank, adding that should it happen Russia has a “Plan B.”

Dec 05 08:16

New G20 Rules: Cyprus-style Bail-ins to Hit Depositors AND Pensioners

On the weekend of November 16th, the G20 leaders whisked into Brisbane, posed for their photo ops, approved some proposals, made a show of roundly disapproving of Russian President Vladimir Putin, and whisked out again. It was all so fast, they may not have known what they were endorsing when they rubber-stamped the Financial Stability Board’s “Adequacy of Loss-Absorbing Capacity of Global Systemically Important Banks in Resolution,” which completely changes the rules of banking.

Russell Napier, writing in ZeroHedge, called it “the day money died.” In any case, it may have been the day deposits died as money. Unlike coins and paper bills, which cannot be written down or given a “haircut,” says Napier, deposits are now “just part of commercial banks’ capital structure.” That means they can be “bailed in” or confiscated to save the megabanks from derivative bets gone wrong.

Webmaster's Commentary: 

In other words, the bankers created this derivatives mess and have now rigged it so when it implodes, YOU pay the losses!

Dec 05 07:46

Fedex CEO, Skull & Bones Member, Urges Obama to Pass a 15-Cent-Per-Gallon Fuel Tax Hike

Frederick W. Smith, CEO of FedEx, had a lengthy discourse with President Obama Tuesday at the Business Roundtable meeting and urged Obama to raise the nation's fuel tax by fifteen cents per gallon.
In their discussion, Smith promoted a law being sponsored in Congress which calls for the tax increase as well as an eventual road usage charge. Being the CEO of one of the largest transportation companies, one might assume that the likes of Smith would oppose such a drastic fuel tax increase. Independent truck drivers would surely oppose such a measure, as it would cut into their profits substantially. But that doesn't concern ivy league oligarchs such as Smith, who's a 1996 Yale grad, Skull & Bonesman, and pal of George W. Bush and John Kerry. I hereby call for a boycott of these MFers at FedEx.

Dec 05 07:25

The Kansas City of the Heart and Mind.

This can be a cold and seemingly pitiless world. I've seen some amount of that but I am certain I haven’t seen anywhere near the degree of it that some have. The sheer scale of suffering on any given day on this planet is beyond the grasp of any human imagination. Generally we do not know the extent of the suffering, or the level of depravity of the offenses because, in most cases, the news delivery systems are controlled by the people most responsible, over all, for the large majority of suffering world wide; that was some pretty messed up sentence structure but I’m going to go with it.

Dec 05 07:24

19 Signs That You Live In A Country That Has Gone Completely Insane

Do you ever feel like you are living in a “Bizarro World”? That is how I feel much of the time. I look around and it seems as though some form of mass psychosis has descended on most of the population.

Dec 05 06:27

Obama: "I haven't said this publicly, so I've got to be careful here. You get a little looser in your last two years of office."

President Obama warned of a "disquiet in the general public," an "undertow of pessimism" and "Americans feeling as if their wages and incomes have stagnated" during his speech Tuesday at the Business Roundtable. He also quipped "I love signing bills" to an outburst of laughter from the crowd. There are many other gems from this speech and LibertyFight.com waded through it for you to find the best ones, including his comments on the topics of free trade, immigration, infrastructure repair, Putin's "backward-looking" nationalism, and China "embarrassing" the U.S., "carbon emissions that cause climate change," and tax reform.

Dec 05 06:12

D.C. Perverts Flank Cardboard Cutout of Ronald Reagan, Seeking to Increase Fuel Tax By Fifteen Cents Per Gallon!

H.R.3636, known as the UPDATE ACT, was promoted by a bipartisan duo of Congressman who were flanked by a life-size cutout of Ronnie Reagan earlier this week. Democrat Earl Blumenauer and Republican Tom Petri are cosponsoring the bill, which incredibly calls for a 33.3 cents per gallon tax on gasoline and 39.3 cents per gallon tax on diesel fuel and kerosene. This amounts to a fifteen cent-per-gallon increase in current levels, which are 18.4 cents per gallon for gasoline and 24.4 cents per gallon for diesel fuel. Their actual stated goal is to scrap the fuel tax altogether and implement a national road usage charge tax, as the bill states: "The Commission also noted that a Federal funding system based on a vehicle miles traveled system, is the consensus choice for the future. It is the sense of Congress that by 2024 the gas tax should be repealed and replaced with a more sustainable, stable funding source."

Dec 04 18:06

‘Near Perfect’ Indicator That Precedes Almost Every Stock Market Correction Is Flashing A Warning Signal

Are we about to see U.S. stocks take a significant tumble? If you are looking for a “canary in the coal mine” for the U.S. stock market, just look at high yield bonds.

Dec 04 17:16

Is $40 Oil Possible?

Dec 04 16:33

It’s official: America is now No. 2

Hang on to your hats, America.

And throw away that big, fat styrofoam finger while you’re about it.

There’s no easy way to say this, so I’ll just say it: We’re no longer No. 1. Today, we’re No. 2. Yes, it’s official. The Chinese economy just overtook the United States economy to become the largest in the world. For the first time since Ulysses S. Grant was president, America is not the leading economic power on the planet.

It just happened — and almost nobody noticed.

Dec 04 16:29

Las Vegas Makes It Illegal to Feed Homeless in Parks

Las Vegas, whose homeless population has doubled in the past decade to about 12,000 people in and around the city, joins several other cities across the country that have adopted or considered ordinances limiting the distribution of charitable meals in parks. Most have restricted the time and place of such handouts, hoping to discourage homeless people from congregating and, in the view of officials, ruining efforts to beautify downtowns and neighborhoods.

But the Las Vegas ordinance is believed to be the first to explicitly make it an offense to feed “the indigent.”

Dec 04 15:45

Police in Silicon Valley clearing out largest homeless encampment in USA

As San Jose closes one of the nation’s largest homeless encampments, many of its residents have nowhere to go : Veiled by the yellow willows and brush along a forgotten creek bed in San Jose, hundreds of people jerry-built a treehouse and constructed underground bunkers and ramshackle lean-tos to form one of the nation’s largest homeless encampments.

Dec 04 14:47

Sears to accelerate closings, shutter 235 stores

Sears shares fell Thursday, after the struggling department store announced an adjusted net loss of $296 million—in line with the updated guidance it gave in November.

The retailer also said it's accelerating the number of stores it plans to close this year, boosting its list from the 130 underperforming stores it announced in its second-quarter earnings release, to a total of 235 stores.

Analysts called the move a step in the right direction for the company, which has been tapping into its real estate in creative ways to compensate for downward-spiraling sales. Still, they said the haircut won't be enough on its own to turn the tide at Sears, adding that it needs to close even more stores—and figure out how to become profitable.

Dec 04 14:46

“Dis-Accumulation” on a World Scale: Pillage, Plunder and Wealth - See more at: http://www.globalresearch.ca/dis-accumulation-on-a-world-scale-pillage-plunder-and-wealth/5417950#sthash.WepJ5hCx.dpuf

snip: The $1 trillion of stolen profits and revenues from the ‘developing countries’ (Africa, Asia, South America) are part of a “corruption chain” which is organized, managed and facilitated by the major financial institutions in the US and UK. According to a World Bank report in 2011 “70 percent of the biggest corruption cases between 1980 and 2010 involved anonymous shell companies. The US and UK were among the jurisdictions most frequently used to incorporate legal entities that held proceeds of corruption”

Dec 04 14:45

RETAIL CHAINS ON DEATHWATCH

Here, four retailers with years of sales declines that could use a good holiday season:

Dec 04 14:29

It's official: America is now No. 2

Hamilton is rolling in his grave, as he is the one who wanted the US to be the manufacturing capitol of the world along with tariffs and import duties to protect those jobs.

Dec 04 13:44

Police Clear Largest Homeless Encampment In America

Police and social services in Silicon Valley are starting to clear away what likely had been the nation's largest homeless encampment.

Animal control and a construction contractor are also helping dismantle the square-mile site that once was home to more than 200 homeless people, San Jose homelessness response manager Ray Bramson said.

People living in the camp, known as The Jungle, were told Monday they must be out by Thursday or face arrest for trespassing. The encampment stands in stark contrast to its surrounding area in the heart of the Silicon Valley, a region leading the country for job growth, income, innovation and venture capital.

Dec 04 13:06

Oil And The Global Slowdown: It's Time For Central Banks To Admit Their Failures

The world economy is slowing down and the authorities are fretting.

Japan, Italy, and Greece are all in recession. China is slowing down according to official statistics, and even more according to whispered accounts.

Germany, France and the Netherlands are all at stall speed.

Dec 04 12:48

'Colossal cuts' needed after General Election, warns IFS

Britain faces public spending cuts on a "colossal scale" after the General Election which will lead to a "fundamental reimagining" of the role of the state, the Institute for Fiscal Studies has warned.

The respected economic thinktank said that just £35bn of the cuts in spending by government departments have been completed, with £55bn still to come by 2020.

It said that if cuts in departmental spending continue at the same pace, £21billion worth of cuts to welfare or tax rises will be needed by 2019/20.

Dec 04 12:45

Osborne’s spending cuts will change state ‘beyond recognition’, says IFS

George Osborne’s plans to increase the speed of public sector spending cuts over the next five years will force a “fundamental re-imagining of the state”, according to analysis of the chancellor’s autumn statement by Britain’s leading tax and spending expert.

The scale of cuts to departmental budgets and local government will reduce the role of the state to a point where it “will have changed beyond recognition”, the Institute for Fiscal Studies (IFS) said as it digested the scale of cuts needed to achieve a budget surplus pencilled in by the chancellor for 2019-20.

Dec 04 11:56

VIDEO: GEORGE OSBORNE “HITTING THE DRUGS HARD AGAIN”

New footage has surfaced which appears to show George Osborne experiencing drug-induced spasms during a session of Prime Minister's Questions. The images of the Chancellor's sweating, gurning face has reignited national debate as to whether or not Britain is best served by a Chancellor of the Exchequer in the midst of what appears to be another "coke and whores binge".

Dec 04 11:43

Oil prices falling, who suffers? - Tony Gosling on West economic warfare vs Russia

Ahead of Putin's state of the nation address, international media coverage was full of doom-and-gloom warnings for the Russian economy. The low crude price has indeed put a strain on Russia's finances, but what's the impact for the rest of the world?

Dec 04 11:10

Russia's Central Bank Hit by Accusations of Sabotaging Ruble

The Prosecutor General's Office is looking into the Central Bank's operations after a ruling party lawmaker accused it being an "enemy of the country" by supposedly driving down the ruble and plotting "evil" against Russia.

Webmaster's Commentary: 

Ahh, those central bankers stick together!

Dec 04 09:31

ECB 'steps up' plans for more stimulus measures

The European Central Bank (ECB) has "stepped up" plans for more stimulus measures aimed at revitalising the eurozone economy, bank president Mario Draghi has said.

Webmaster's Commentary: 

Meaning they will print up more money to give to the banks to lend to the people at interest!

Dec 04 09:28

'Where are they going to go? We can't magic up homes for them': As the police move in to clear the squalid Silicon Valley homeless camp, charities fear that its 300 former residents will just set up another camp

Dilapidated, muddy and squalid though it was, it was all they had to call home.

And today signaled the end for more than 300 residents of a shantytown known as the 'The Jungle' - who have been forced out of their makeshift abodes and underground homes.

But with many having nowhere else to go, charities say the evacuated residents will simply set up camp elsewhere.

Its location is of note - at the heart of opulent Silicon Valley, home to tech giants Google, Apple and Facebook, and its dismantling has stirred up controversy.

Dec 04 09:12

Congress Agrees to Troop Pay, BAH Cuts in Budget Compromise

Service members next year will be paying more for prescriptions bought off base, getting less of a housing subsidy and a picking up a smaller pay raise under an agreement reached between Senate and House lawmakers.

Webmaster's Commentary: 

Dec 04 09:12

Do You Have An AMAZON/CIA Account?

A $600 million computing cloud built by an outside company is a "radical departure"

Dec 04 09:06

THE FOREX FIX: UNDERSTANDING THE FOREIGN CURRENCY SCAM IN LONDON

If you’ve been following the orgy of white collar crime since the 2008 meltdown, one notable thing emerges from the jumbled haze: Wall Street seems to offshore a lot of its criminality to the City of London. From Libor to the London Whale, almost every recent financial scandal has a connection to the U.K.’s financial district. The latest one people are talking about is the Forex, or FX, a decentralized foreign exchange market that trades in the world’s currencies. The exchange in the City of London controls around 40% of the FX, amounting to its biggest market on the planet. The daily rate for a given currency is referred to by traders as “the fix” – a nicely ironic term considering that the fix has been in, literally, on the Forex exchange in London for at least 10 years.

Dec 04 08:42

Red Cross exposed as scam in searing investigation published by ProPublica

A pair of massive, once-in-a-generation storms lambasted regions of the U.S., leaving in their wake destruction, some death and havoc. Hundreds of thousands of people were without food, shelter and power, many for weeks on end.

But Americans responded like they always do after such disasters, whether they occur on home soil or abroad: They opened up their pocketbooks and donated to charities ostensibly aimed at helping victims.

In particular, according to a recent investigative report by ProPublica and National Public Radio, Americans sent the Red Cross hundreds of millions of dollars because they believed that their donations would be well used to relieve the suffering of victims pounded by Superstorm Sandy and Hurricane Isaac.

It didn't happen. Per the report:

Dec 04 08:32

Chinese Investors Snap Up Property in Bankrupt Detroit

Bankrupt Detroit’s thousands of empty buildings are being flogged at rock-bottom prices — and Chinese investors are answering the siren call of unbeatable deals, reports NBC News.

Dec 04 08:05

Florida Judge Just Lifted Controversial Ban On Feeding Homeless

The Fort Lauderdale ordinance that has become infamous throughout the world in just one month has now been suspended by a Florida judge.

Broward Circuit Judge Thomas Lynch suspended enforcement of the ordinance restricting the all public feeding of homeless people. But the suspension is only for 30 days so far. During that time, the judge has ordered mediation on the issue.

Dec 04 08:03

Washington Obamacare Exchange Kicks 6,000 Off Their Plans

A problem with Washington state’s Obamacare exchange cancelled 6,000 accounts’ insurance plans and payments, the exchange admitted Tuesday night.

Dec 04 06:38

Russia imposes restrictions on poultry imports from US

Russia has decided to impose restrictions on poultry imports from the United States because of “harmful residues.” Russia’s Veterinary and Phytosanitary Surveillance Service (VPSS) said on Thursday that the new decision would come into effect as of December 5.

VPSS said it made the decision due to “the ongoing identification of harmful residues and banned substances coming from the US poultry products, including the presence of tetracycline.”

Dec 04 05:05

Five Facts About the Crony Interest in Food Stamps

One-sixth of the country is now receiving food stamps and the number just continues to climb.

Most argue this increase simply has to do with the terrible recession and resultant unemployment; but the food stamp program, now known as the Supplemental Nutrition Assistance Program or SNAP, is yet another crony capitalist scheme (surprise, surprise).

But ultimately, as more people lose their jobs or are forced to take low-paying jobs and more of those people get on food stamps, this system (like so many others in this country) is not even remotely sustainable.

If things continue this way, we are definitely set to see a Cloward-Piven style collapse in America. And even our congressmen have admitted that’s what they believe our current president is trying to do.

Here are a few more crony facts most people might not realize about our nation’s food stamp program...

(read more)

Dec 04 05:02

Look How Bad They Want You on Food Stamps

Wow, we didn't realize we can call up our very own food stamp outreach coordinator to help us not only find out if we qualify for food stamps, but help us fill out the application AND help us again when it's time to reapply for more food stamps, too! Why, they'll just about do everything but buy the groceries and deliver them to our house for us!

Dec 03 18:38

Plummeting Oil Prices Could Destroy The Banks That Are Holding Trillions In Commodity Derivatives

Could rapidly falling oil prices trigger a nightmare scenario for the commodity derivatives market? The big Wall Street banks did not expect plunging home prices to cause a mortgage-backed securities implosion back in 2008, and their models did not anticipate a decline in the price of oil by more than 40 dollars in less than six months this time either.

Dec 03 16:11

L.A. Fitness "is working in conjunction with the police department"

I picked up 2 free week-long 'guest passes' for L.A. Fitness gym which were advertised at a local pizza place recently, and when I went on the L.A. Fitness website, I found something that looked a bit squirrely, so I e-mailed them about it.

Dec 03 15:40

"Honestly, you've all gone mad."

Dec 03 15:20

Greece needs bailout extension as new credit line delayed, EU official says

Greece will have to ask for an extension on its bailout program before parliaments in eurozone nations close for Christmas because a new credit line will not be ready in time, a senior euro zone official said on Wednesday.

Dec 03 15:10

Equity put/call hitting some depths

Dec 03 14:30

Poll: Nearly 4 in 10 say California Obamacare exchange not working well

Nearly four in 10 Californians say the state's health exchange isn't working well as the second open enrollment gets underway, a new survey shows.

The results from the Public Policy Institute of California survey may reflect persistent service problems experienced by some consumers as well as continued partisan opposition to the federal overhaul.

Dec 03 13:02

Israeli trade control causes $310m loss for Palestinian Authority

The Palestinian Authority lost at least $310 million in customs and sales tax in 2011 as a result of importing from or through Israeli-occupied territories, the UN said Wednesday, urging a radical change to the system.

Dec 03 12:57

US Resorts to Illegality to Protect Failed Policies — Paul Craig Roberts & Dave Kranzler

In a blatant and massive market intervention, the price of gold was smashed on Friday. Right after the Comex opened on Friday morning 7,008 paper gold contracts representing 20 tonnes of gold were dumped in the New York Comex futures market at 8:50 a.m. EST. At 12:35 a.m. EST 10,324 contracts representing 30 tonnes of gold were dropped on the Comex futures market.

Dec 03 12:53

Baltimore City Says It Does Not Plan to Privatize Water

Baltimore's City Council questions top official over plans to use private companies to study how to improve aging water system as opponents warn such a move could lead to privatization

Dec 03 11:30

Add the title of "loan shark to Dictatorships" to Goldman Sachs many varied roles around the world

How Goldman Sachs Became Broke Venezuela's Loan Shark

Dec 03 10:17

HOW GOLDMAN SACHS BECAME BROKE VENEZUELA'S LOAN SHARK

Add the title of "loan shark to Dictatorships" to Goldman Sachs many varied roles around the world. As Venezuela teeters on the brink of tearings its utopian social fabric apart (by which we mean paying its soldiers while impoverishing its people to in order to maintain 'peace') crushed by plunging oil revenues, everyone's favorite American bank 'generously' offered to buy (from Venezuela) $4bn worth of oil debt owed by the Dominican Republic for 41% of its value, according to El Nuevo Herald.

Dec 03 09:43

Rising Cost of Living Makes People Poorer

Dec 03 09:42

John Williams - America and Dollar in Trouble

John Williams of ShadowStats.com says, “We are still living in the throes of the panic of 2008. What the central banks did at that time, specifically the Fed and the Treasury, was to take actions to push all the issues into the future. They didn’t do anything to solve the basic problem. The banking system is still in trouble. It is far from solvent, far from normal. You don’t have regular bank lending. If you had regular bank lending, the economy would really be much stronger. It’s not.” Williams goes on to say, “People outside the United States know America is in trouble, and they know the dollar is in trouble. It’s not going to take much to trigger a reversal of the current circumstances. It could be an unusually weak economic statistic, and believe me, those are coming.”

Dec 03 09:38

Zen and the Art of Cancer and other Living Things.

The world continues to carousel through space, spinning through continuums of apprehension and threat. Hope springs eternal, like soft grass, routinely trampled by marching hobnailed boots. Then it springs up somewhere else. It’s not springing up here. That’s the ass media version and then we get into maybe a little less ass media over here, where a name crops up and then we get some more over here. They don’t say that the Russian is one of those oligarchs and when you go to search on him you find a very surprising …nada.

Dec 03 09:34

Marijuana’s Long Term Effects On The Brain Finally Revealed!

With a drug war against marijuana still raging in more countries than not, the question of how long-term marijuana use effects the human brain is a pivotal question in its legalization. Although alcohol remains legal despite heaps of evidence to the dangers of long-term use, the fight to make marijuana available both with regard to its medical properties (especially in selectively killing cancer cells) and non-medical uses has frequently hinged on the various claims made about marijuana’s effects on the recreational user.

Webmaster's Commentary: 

The government rulings about alcohol, tobacco, and marijuana, are not based on what is good or bad for you (although that is the usual government cover-story) but what can be controlled and taxed versus what you might produce in your own home for your own use, from which neither corporations nor government can profit.

Dec 03 09:27

JPMorgan Rushed to Hire Trader Who Suggested on His Resume That He Knew How to Game Electric Markets

The internal emails at JPMorgan and Bartholomew’s resume are now marked as Exhibit 76 in a two-year investigation conducted by the U.S. Senate’s Permanent Subcommittee on Investigations into Wall Street’s vast ownership of physical commodities and rigging of commodity markets. Senator Carl Levin, the Chair of the Subcommittee, had this to say about the resume at a hearing conducted on November 21:

"There’s two things that I find incredible about this. First, that anyone would advertise in a resume that they know about a flaw in the system — signaling that they’re ready and willing to exploit that flaw. And, second, that somebody would hire the person sending that signal."

SHARE THIS ARTICLE WITH YOUR SOCIAL MEDIA