ECONOMY | WHAT REALLY HAPPENED


ECONOMY

Jun 23 18:01

Tired of high taxes? Maybe it's time to move

Jun 23 15:58

Video: More austerity? Default? Grexit? EU talks spawn panic

After a day of talks in Brussels, a deal to save Greece’s teetering economy is still not in place

Jun 23 15:32

Major banks plead guilty to felony charges of currency fraud, but are allowed to continue scam after paying fine - and nobody's in jail!

Several top kingpins behind the global financial collapse of 2008 have reportedly agreed to plead guilty for their sinister crimes, but under one major condition: that they won't actually be held legally culpable. Five of the world's largest banks -- Citigroup, JPMorgan Chase, Barclays PLC, the Royal Bank of Scotland and UBS -- have all confessed to deliberately manipulating the global foreign exchange markets for illicit gain, but all of them are getting off the hook with petty fines rather than jail time and tangible operations penalties.

Jun 23 15:26

The "Smart Money" Just Sold The Most Stocks In History

According to BofA's Jill Hall, "BofAML clients were big net sellers of US stocks in the amount of $4.1bn, following four weeks of net buying. Net sales were the largest since January 2008 and led by institutional clients—after three weeks of net buying, institutional clients’ net sales last week were the largest in our data history."

Jun 23 15:20

Has Washington Gone Looney Tunes?First appeared: http://journal-neo.org/2015/06/22/has-washington-gone-looney-tunes/

Given a series of recent speeches by leading US officials and actions, the question must be frankly posed: Has Washington gone collectively looney tunes? Even as the governments of the EU are moving to buck US pressures and ease the sanctions, the Obama Administration seems intent on marching in the direction of a nuclear confrontation with Russia. As the ancient Greek expression puts it, “Whom the gods would destroy they first make mad…” The following recent developments fit that pattern quite nicely, thank you.

Jun 23 13:59

The commie connection – FDR and Stalin

For all those admirers of Franklin Delano Roosevelt, who believe he was a great president, remove the blinders and face up to the fact that his socialist mindset and administration destroyed the last remnants of the Old Republic. Most of these same cheer leaders for the “New Deal” are in love with big government and seek to empower a federal authority at the expense of the Federalism model that is based upon separations of power and States Rights.

Jun 23 13:00

GREECE ECONOMIC COLLAPSE CONTINUED...

Jun 23 12:41

MILLIONS FLEEING HIGH-TAX STATES

Everyone complains about taxes. But millions of American households apparently are doing something about it: Picking up and moving.

Jun 23 11:58

UNDER US CORPORATE-RUN MEDIA BLACKOUT, PACIFIC 'TRADE' PACT MOVES STEP NEARER AFTER SENATE VOTE

In a win for Obama and a defeat for labor unions skeptical of the trade deal, the Senate voted 60-37 to limit debate on the fast-track measure. That just barely satisfied the 60-vote threshold needed after two senators who supported the bill on its first run through the Senate a month ago - Republican Ted Cruz and Democrat Ben Cardin - changed their votes to "no."

Jun 23 11:30

Tory cuts plunge families further into poverty

Experts have warned against British government’s plans to cut tax credits and other working-age benefits, saying they will be “extremely unfair” on low-income households.

Jun 23 11:30

Keiser Report: Bring Austerity to Bankers!

In this episode of the Keiser Report, Max Keiser and Stacy Herbert, in a double header, discuss the evidence emerging that QE is causing deflation.

Jun 23 11:06

US CEOs earn 300 times as average workers: Report

Amid growing concern over income inequality, the most senior corporate officers in the United States made over 300 times as much as the average worker last year, according to a new report released Monday.

Jun 23 10:12

Senate Gives Obama Huge Win On Trade

The Senate on Tuesday handed President Barack Obama the biggest legislative victory of his second term, with a dramatic vote clearing the way for major trade agreements with Pacific Rim nations and the European Union.

The 60-37 vote all but ensures the passage of legislation that will allow Obama to "fast-track" his negotiated trade pacts through Congress, preventing filibusters or amendments. Liberals have long assailed Obama's trade agenda, but Republicans successfully wooed a bloc of Democrats led by Sen. Patty Murray (D-Wash.) and Ron Wyden (D-Ore.) to secure enough votes to overcome a filibuster.

With the 60-vote threshold cleared, the path is now open for the Senate to take a final vote on the legislation on Wednesday.

Webmaster's Commentary: 

Every senator who voted, and votes, affirmatively for these pieces of legislation is a complete, absolute traitor to the American people they allegedly represent.

This is an absolutely, painfully clear demonstration that Congress is, collectively, simply a whore to the corporations which pay them, handsomely, to do their bidding.

Jun 23 10:08

When "Too Big to Fail" Fails: The Scheme to Seize Depositors’ Money

Late last year, the heads of state of the G20, the developed nations, met in Brisbane, Australia. One piece of business was the advancement of new banking rules that will allow what were called the Too Big to Fail Banks, and are now called Global Systemically Important Banks (G-SIBs) to seize depositors’ money to save themselves in the next crash.

Jun 23 09:57

Greek debt crisis LIVE UPDATES

Pensioners are marching through Athens with demands to end austerity, according to reports on Twitter. At least 70 coaches with protesters have reportedly arrived.

Jun 23 09:49

Senate advances fast-track trade bill for Obama

The Senate on Tuesday voted to advance President Obama’s trade agenda, approving a measure to end debate on fast-track authority.

The 60-37 motion sets up a vote on final passage on Wednesday. If the Senate approves fast-track or trade promotion authority (TPA), it would then be sent to Obama’s desk to become law.

Webmaster's Commentary: 

"This will be my greatest achievement since Obamacare!" -- Official White Horse Souse

Jun 23 08:20

Warren Buffett: Derivatives Are Still Weapons Of Mass Destruction And ‘Are Likely To Cause Big Trouble’

After all these years, the most famous investor in the world still believes that derivatives are financial weapons of mass destruction. And you know what? He is exactly right. The next great global financial collapse that so many are warning about is nearly upon us, and when it arrives derivatives are going to play a starring role.

Jun 23 08:20

Ron Paul says Sino-Russian currency will ‘dethrone dollar’

Former US congressman Ron Paul says Washington’s increasing pressure on Moscow might force Russia and China to make a new currency to dethrone the US dollar.

Jun 23 08:08

Will Seizure of Russian Assets Hasten Dollar Decline?

The timing of these actions is quite curious, coming as the Greek crisis in the EU seems to be reaching a tipping point and Greece, having perhaps abandoned the possibility of rapprochement with Europe, has been making overtures to Russia to help bail it out of its mess. And with the IMF’s recent statement pledging its full and unconditional support to Ukraine, it has become even more clear that the IMF and other major multilateral institutions are not blindly technical organizations, but rather are totally subservient lackeys to the foreign policy agenda emanating from Washington. Toe the DC party line and the internationalists will bail you out regardless of how badly you mess up, but if you even think about talking to Russia you will face serious consequences.

Jun 23 08:08

Global economic impact of violence reached $14.3 trillion in 2014

The economic impact of violence on the global economy in 2014 measured a staggering $14.3 trillion, or 13.4 percent of world gross domestic product (GDP), equivalent to the combined economic output of Brazil, Canada, France, Germany, Spain and the United Kingdom.

Jun 23 08:02

Tsipras under pressure agreed to the "solidarity tax" on earnings

Google Translate: French President Francois Hollande on the results of the summit said:

"We are approaching an agreement, but there are still a lot of work. It must be to reach a comprehensive and dugovro?nog agreement. It should all end by the end of nedelje.Ne can not be said about the exclusion of Greece from the eurozone. "

Hollande admitted that there would be no third program of financial aid to Athens:

Jun 23 07:52

Europe’s Malpractice of Greece

A modern hospital is equipped with a variety of specialized wards. One of them is the intensive care unit, or ICU. Here go those who are especially sick and in need of the most devoted attention. The existence of the ICU recognizes that illness and operations do not affect all patients in the same way. Some, who are robust, recover quickly. Others who are weaker, or older, or sicker, may require different treatments and more help.

Jun 23 07:51

Constituents to Senators: Reject Fast Track, or Don't Come Home

With votes scheduled for Tuesday and Wednesday, anti-Fast Trackers are being urged to call their senators, while activists are also organized the #SenatorDontComeHome Twitter storm for Monday afternoon at 1 pm EDT, in which they told lawmakers to block Fast Track or risk alienating constituents.

Jun 23 07:04

Sanctions Cost: Europe could stand to lose 100bn Euros

Europe has extended sanctions against Russia over the crisis in Ukraine for another 6 months.

Jun 23 01:55

Keeping Your Gold In Your Golden Years

Jun 22 21:50

As Pressure Mounts, Europeans Rally in Streets for Greek Dignity

According to reports, protesters carried banners that read slogans such as, "Our lives do not belong to creditors," and "If Greece were a bank it would have been saved."

Jun 22 20:28

For The First Time Ever, Total ECB Claims On Greek Banks Surpass Total Greek Deposits

Net of the latest ELA increase, when adding some €38 billion in collateralized EFSF bonds and other collateral usage, we find that we have not only reached parity but crossed it: as of this moment Greek deposits, which are generously estimated at €120 billion but in reality are lower, are less than the total ECB claims on Greek banks and the Bank of Greece, amounting to €126 billion. And with that the possibility of a Greek bail-in which could amount to up to 100% of total Greek deposits, becomes all too real.

Jun 22 19:51

Greece Capitulates: Tsipras Crosses "Red Line", Will Accept Bailout Extension

Under pressure from all sides (and most importantly from Mario Draghi who holds the fate of the Greek banking sector in his hands) Greece looks to have folded and is now set to accept an extension of its current bailout program. PM Alexis Tsipras now faces an uphill battle to unite Syriza around what is likely to be an unpopular agreement. If he fails, the country could plunge into political and social turmoil.

Jun 22 19:30

Greece Capitulates: Tsipras Crosses "Red Line", Will Accept Bailout Extension

On the Greek side of the table, Tsipras must convince Syriza party hardliners that concessions are preferable to Grexit and the economic malaise that would come with redenomination. For some on the Left Platform, compromising the party’s electoral mandate is simply not an option and it’s these lawmakers (who just two weeks ago voted to leave the euro and default) that Tsipras will need to sway or else attempt to push an unpopular agreement through parliament a gambit which implicitly assumes that the ensuing political upheaval and voter backlash is preferable to economic collapse. The problem with the latter approach is that it effectively means the troika will have succeeded in using financial leverage to subvert the democratic process, an eventuality that die hard Syriza hardliners are in no mood to suffer.

Jun 22 18:45

US criminal economics: TPP secret treaty = ‘constitutional republic,’ debt = ‘money’, 500 million+ dead from poverty = ‘necessary.’ Had enough to demand arrests?

*hyperlinks live at source*

hat tip: Ellen Brown, Web of Debt Blog

“Psychopaths are unable to form emotional attachments or feel real empathy with others, although they often have disarming or even charming personalities. Psychopaths are very manipulative and can easily gain people’s trust. They learn to mimic emotions, despite their inability to actually feel them, and will appear normal to unsuspecting people... When committing crimes, psychopaths carefully plan out every detail in advance and often have contingency plans in place. Unlike their sociopathic counterparts, psychopathic criminals are cool, calm, and meticulous.” - Psychology Today

Jun 22 15:04

Cynically: the Day of Memory and Grief The EU extended sanctions against Russia

Google Translate: Well aware of the significance of the date of June 22 for Russia, the European Union formally extended sanctions against the country for another six months. Amendments approved the Foreign Minister of EU member states. However, Moscow has made it clear that Europe will respond in kind. Although Europe and so, in fact, imposes sanctions against itself.

Sanctions against Russia extended until 31 January 2016 to the applause of the NATO Secretary General Jens Stoltenberg and without any discussion. Moscow, it seems, is not very surprising.

Jun 22 14:40

“It’s Time to Hide Cash Under the Mattress”: Bond Manager Warns of System Wide Collapse

No one knows how well prepared the system is to handle potential bank runs and massive demands for cash withdrawals if the system tanks.

And no one knows how much longer the system can hold.

“Systemic risk is in the system and as an investor you have to be aware of that,” he told Telegraph Money.

Read more at SHTFplan.com

Jun 22 14:18

Going on holiday to Greece? Tourists warned to take enough money in case cash machines are switched off in euro crisis

Crisis plans to help British holidaymakers were being drawn up last night as Greece lurched closer to bankruptcy and exit from the eurozone.

As the Government held talks on how Britons will be assisted if they become stranded, tourists were advised to take enough euro notes to cover emergencies in case Greek banks switch off cash machines.

It came as Prime Minister Alexis Tsipras defiantly refused to implement austerity measures needed to unlock emergency funds to avoid a debt default.

Jun 22 11:55

Bankers Think They Have an Ethical Duty to Steal From Taxpayers

Ed Kane, a professor of finance at Boston College, studies the dangerous risk-taking of giant banks. He sees the cultures of Wall Street and regulators coming together to turn taxpayers into victims of theft and great harm. Like extreme drunk drivers before MADD or smokers on airplanes prior to the 1980s ban, megabankers currently get away with endangering others with little fear of repercussions. Kane discusses how changes in corporate law and culture must make it legally and socially unacceptable for bankers to blow their toxic fumes at the rest of us.

Jun 22 11:49

The Increasing Scarcity of Helium

Jun 22 11:33

The truth is out: money is just an IOU, and the banks are rolling in it

Last week, something remarkable happened. The Bank of England let the cat out of the bag. In a paper called "Money Creation in the Modern Economy", co-authored by three economists from the Bank's Monetary Analysis Directorate, they stated outright that most common assumptions of how banking works are simply wrong, and that the kind of populist, heterodox positions more ordinarily associated with groups such as Occupy Wall Street are correct. In doing so, they have effectively thrown the entire theoretical basis for austerity out of the window.

Jun 22 11:30

Confiscation of Bank Deposits, The Derivative Debt

Last month’s G20 Summit in Australia came and went without the protests and riots we’ve come to expect at the summit in recent years.

But as author and researcher Ellen Brown notes, the real fireworks happened behind closed doors, where the group rubber stamped new regulations that will make Cyprus style bank bail-ins a worldwide reality.

Jun 22 11:17

EU Extends Economic Sanctions Against Russia Until February 2016

European Union foreign ministers on Monday extended economic sanctions against Russia until January 31, 2016.

Jun 22 11:15

San Francisco vs America in Housing Bubble 2

Jun 22 11:01

“Sentence First, Verdict Afterwards”: The Alice in Wonderland World of Fast-tracked Secret Trade Agreements

While the deals are being negotiated, lawmakers can see their terms only under the strictest secrecy, and they can be subjected to criminal prosecution for revealing those terms. What we know of them comes only through WikiLeaks. The agreements are being treated as if they were a matter of grave national security, yet they are not about troop movements or military strategy. Something else is obviously going on.

Webmaster's Commentary: 

I do not consider myself bound by a treaty (or any other obligation) not approved of by all of the people, and by that I do NOT mean that grand asylum for the aged and inform on Capitol Hill, but We The People. If treaties are the highest law of the land they deserve the highest scrutiny and review by the public before passage.

Jun 22 10:25

Obama admits: Obamacare website 'disaster'

President Obama made a somewhat shocking admission, given his tendency to divert blame from his own White House – even to the point where the lagging economy has been painted as George W. Bush’s fault several years into the current administration – and said his Obamacare website has proven disastrous.

Webmaster's Commentary: 

Jun 22 09:48

Can You Imagine Empty Grocery Stores?

Jun 22 09:36

Crowdfunding Allows Easier Investment in Real Estate

As the popularity of crowdfunding rises in the commercial real-estate industry, so does the ease with which everyday investors can invest in real estate without pledging huge amounts of capital.

Jun 22 09:31

4 Million American Homeowners Still "Underwater"

Although the number of American homeowners who are "underwater" with their mortgages, owing more than their home is worth, has been dropping as the real estate market continues to improve, almost 4 million are still underwater by at least 20%.

Jun 22 09:24

Presidential Candidate: Every American Deserves Paid Vacation

Presidential candidate, Bernie Sanders, said he believes every American worker deserves paid vacation.

Jun 22 09:18

Bird Flu Causes Egg Prices to Skyrocket

The average weekly price of large eggs has more than doubled in the last month thanks to the bird flu epidemic.

Jun 22 09:17

CEO Pays for College for Employee’s Children

CEO Chieh Huang of Boxed, an online version of Costco, decided to pay for the college education of his employee’s children.

Jun 22 08:43

Bilderberg: Started by a Nazi, still with the same agenda

When you want to discover what an organization is really all about, it is important to dig down to the roots. And when you uncover the roots of the Bilderberg Group, you find some very unsettling things. It turns out that the Bilderberg Group has had Nazi connections from the very beginning, and it continues to advance the agenda of the Nazis to this very day.

This year, the Bilderberg Group met from June 11th to June 14th at the Interalpen Hotel which is near the city of Telfs, Austria. This organization has so much power that even several days before the event police kept everyone (including reporters) 10 kilometers away from the hotel. If this is just a group of private citizens getting together to chat about world issues, why all the security? What is so special about this group of people that rates such extraordinary measures? And why are they so bound and determined to keep all of the rest of us away from them?

Jun 22 08:34

Be wary of Russia/Greece news

While there is some important data coming out this week, in particular the corporate profits report on Wednesday, the world will be watching the European Union's debate regarding the future of Greece and whether or not politicians are willing to allow Russia to become Greece's ‘Spasitel' (savior).

If this occurs, Russia would gain an immediate advantage in ending future economic sanctions by the EU, as such a vote must be unanimous, and the Greeks would certainly side with their new comrades. One thing is certain, there will be plenty of headlines to bewilder observers and cause additional market volatility.

Jun 22 08:33

‘The People Will Not Be Blackmailed': Thousands March in Athens Against Austerity

Throngs flocked to Athens on Sunday to call on the ruling Syriza party to stand up to international creditors and reject further austerity measures.

In the second mass demonstration this week alone, thousands of protesters chanted “No to the euro” and “The people will not be blackmailed.”

Jun 22 08:27

Dire warning from Greek bank boss

Mr Karamouzis confirmed to me that the European Central Bank (ECB) has agreed to keep Greek banks alive today.

But he warned there was a genuine risk of Greek banks being forced to close their doors tomorrow and cease dispensing cash for days, if the Greek government led by Alexis Tsipras fails today to convince eurozone finance ministers and government heads that it is taking credible steps to balance its books.

Jun 22 08:25

Vladimir Putin schools Charlie Rose

Interestingly, Putin did not say the word "reforms", let alone "structural reforms", even once, although that's what he was talking about. Let's focus on only one statistic: the physical volume of non-raw material exports from Russia grew by 17% in the first quarter of this year. Which means the structure of exports are changing, something that until recently could only be dreamt about.

In other areas, Russia's economy also displayed a resilience that many did not expect.

Jun 22 08:23

Max Keiser: JP Morgan's Blythe Masters is the devil incarnate

Keiser told IBTimes UK in no uncertain terms that the most prominent force attempting to wrestle back a proprietary fiefdom for banks is the former global head of commodities at JP Morgan, Blythe Masters.

Masters joined blockchain-focussed company Digital Asset Holdings in March of this year. She is by far the biggest fish from Wall Street to enter the space – something which mainstream media sources generally reported as a huge vote of confidence for cryptocurrencies.

Keiser sees it differently: "Yes, I can tell you the evil cult leader is Blythe Masters. Jamie Dimon has moved her running the credit default swap desk in London – something she invented, the credit default swap."

Jun 22 08:21

Feel Like You’re on the Titanic?

The highly regarded editor of the Gloom, Doom and Boom report, Dr. Marc Faber has warned that “the whole financial system will one day implode”.

Jun 22 08:18

Greek bailout talks end without progress

Eurozone finance ministers have broken off talks without an agreement on Greece’s bailout.

But the officials say they aim to reach a deal later this week that might keep the country from defaulting and falling out of the currency union.

Jun 22 08:01

Currency Crisis: How Much Longer Until it Hits the US?

A currency crisis is coming to the US and it’s only a matter of when, not if. Many have been warning about it for years, from politician Ron Paul to economist Peter Schiff to many other voices in the alternative media. It’s a mathematical certainty, and a question of when, not if.

Jun 22 07:53

How to Punish Bank Felons

The penalty? The banks have agreed to pay $5.5 billion. That may sound like a big chunk of change, but for a giant bank it’s the cost of doing business. In fact, the banks are likely to deduct the fines from their taxes as business costs.

The banks sound contrite. After all, they can’t have the public believe they’re outright crooks.

Jun 22 07:44

Federal Reserve System a Run Away Machine-G. Edward Griffin

Edward Griffin, author of “The Creature from Jekyll Island,” says the global monetary system is out of control. Griffin contends, “There is nothing that can be done about it. This thing is a runaway machine. I would feel much better if these political figures would say hey, this is out of our control right now. We need a substantial change in the system. . . . We need more honesty. People have to stand up and say we are in for a tough time. There is no easy way out of this. We are in for a tough time. Hang on to your seatbelts. We are coming into the rapids now. We need that kind of honesty, but we are not getting it because most of these guys and gals in Washington are thinking well, it’s going to be bad, but at least I’m in a good spot. They are more worried about themselves and their families than they are worried about the nation.”

Jun 22 06:16

Greece Nears the Endgame

Jun 21 22:36

Hypocrisy reigns supreme in the West

The European Union has hypocritically extended sanctions on Russia and the Russian autonomous Republic of Crimea in support of the politically- and economically-failed state of Ukraine. At the same time, the EU has threatened the sovereignty of Greece for failing to adhere to confiscatory and usurious financial policies set by the banking gnomes of Frankfurt and London, the same bankers that are propping up a corrupt government in Kiev. Nothing spells hypocrisy more than what is taking place in Europe at the direction of the "Eurocrats" of Brussels, their military centurions in NATO, and their overall puppet masters in Washington.

Jun 21 22:30

'The People Will Not Be Blackmailed': Thousands March in Athens Against Austerity

Throngs flocked to Athens on Sunday to call on the ruling Syriza party to stand up to international creditors and reject further austerity measures.

Jun 21 19:33

BRICS Bank to commence business on 7 July

The BRICS New Development Bank will be launched at the first session of its Board of Governors in Moscow on 7 July, Russian officials have confirmed.

Russian Deputy Finance Minister Sergei Storchak announced at the St Petersburg International Economic Forum on Friday that the BRICS Bank will be ready for action after the maiden meet of the governors.

The New Development Bank will provide a financing alternative to the World Bank, where the five large emerging markets have sought more clout.

BRICS leaders also announced the establishment of the BRICS Contingent Reserve Arrangement, a 100-billion-dollar fund from which the BRICS member countries will be allowed to draw funds when going through a crisis.

The bank is set to be headquartered in Shanghai. India has already announced the first president of the Bank.

Jun 21 18:26

Lindsey Williams, Martin Armstrong And Alex Jones All Warn About What Is Coming In The Fall Of 2015

Not since the financial crash of 2008 have so many prominent people issued such urgent warnings about a specific time period. Almost daily now, really big names are coming out with chilling predictions about what they believe is going to happen during the second half of 2015.

Jun 21 17:10

Creditors offer Greece six-month bailout reprieve as Tsipras weighs response

Greece’s international creditors are aiming to strike a deal to stop Athens defaulting on its debt and possibly tumbling out of the euro by extending its bailout by six months and supplying up to €18bn (£12.9bn) in rescue funds.

The negotiators representing Greece’s lenders are also proposing to pledge debt relief for the austerity-battered country – but officials stressed that a breakthrough hinged on a positive response from the Greek prime minister, Alexis Tsipras.

Jun 21 16:35

LinkedIn's Loot and Pillage Accounting

Jun 21 15:30

Queen's income safe from cuts for two years despite rising revenues

Formula for calculating Queen's income should safeguard her from the government's austerity plans, despite an 11 per cent rise in her income

Jun 21 14:41

Common Sense Says U.S. Stocks Are Overvalued

Jun 21 13:10

The People Who Flash Crashed Gold In 2014

Back in late 2013 and early 2014, the gold (and silver) market was stunned by a series of massive, unprecedented “stop” or “velocity logic” sales which sent the price of the precious metal crashing so furiously they halted the entire gold futures market anywhere between 10 and 20 seconds. Some examples:

Jun 21 13:00

Trapping Russia to Prove a Negative

The prove-a-negative trap is the Big Lie technique of Nazi propagandist Josef Goebbels: there is no substance to the allegations and there is no obligation to present evidence to verify, thanks to the dutiful and unquestioning nature of Western corporate “journalism”.

The United States and its Western allies are trying to ensnare Russia in an audacious disinformation trap over the Ukraine conflict. That trap involves imposing an insoluble conundrum on Vladimir Putin’s government, which we might call “prove a negative”. It is a familiar conceptual device that Washington has used elsewhere, against Iraq and Iran for example, in order to pursue what are otherwise illegitimate geopolitical aims.Russia is being held up as the guilty party that is undermining the shaky Minsk ceasefire; and Western economic sanctions are being extended “until Russia implements the ceasefire”.

Jun 21 12:24

UK's child poverty rate heading towards largest hike: Experts

Child poverty rate in Britain is reportedly heading towards its largest increase in a generation, reversing over a decade of progress that began in the late 1990s, leading independent experts say.

Jun 21 11:51

What’s the deal with the TPP?

By Jeb Kicker

Many Americans have heard of this giant trade deal known as the TPP, or Trans-Pacific Partnership. Most don’t have a clue what the agreement actually contains or what effects it will have on our situation in America. All citizens should at least know what is being discussed; this pact will have enormous implications and the widespread ignorance of its provisions is by design. Let’s dive in...

Jun 21 11:46

UK is 'biggest tax haven in EU,' says global tax expert

British Overseas Territories and Crown Dependencies make up almost 25 percent of the world’s tax havens blacklisted by the European Commission.

Jun 21 11:38

British campaigners demand cuts to queen expenses

British campaigners demand a review of the queen’s finances after reports that royal spending will not face cuts for at least another couple of years.

Jun 21 10:42

Our "Stealth Politics" of Inequality

What happens — to democracy — when income and wealth concentrate?

A half-century ago, that question hardly seemed worth asking. In the decades right after World War II, Americans were living in a nation — and a world, for that matter — growing ever more equal.

Jun 21 10:23

Managing Greek default risks

Jun 21 09:56

The Myth of Global ‘Free’ Trade

The key to TTIP is the so-called Investor-State Dispute Settlement mechanism that essentially gives corporations free reign to sue governments using a “failure to implement” provision, if state policies or legislation interfere with profits. But is this all about trade?

There was a direct, crucial “secret” agenda linking the G7 meeting in Germany and the Bilderberg meeting in Austria last week; the advancement of the virtually secret negotiations towards the Transatlantic Trade and Investment Partnership (TTIP), the massive free trade agreement between the US and the EU.

Even though the corporate powers behind TTIP are itching for a deal to be reached before the end of 2015, serious (negotiation) trouble remains.

Jun 21 09:50

Trump for President? — Paul Craig Roberts

This is not my endorsement of Trump for President. It is merely my speculations on how we might think of how large egos might be brought into our service.

Celente put it well. If you look at the sorry collection that aspires to be the CEO of what continues to be described as the “exceptional, indispensable, most important country with the largest economy and military, the world’s only Superpower, the Uni-power,” you see a collection of nobodies. America is like the last days of Rome when contenting factions fought to put their puppet on the throne.

In actual fact, Trump might be our best candidate to date. By all accounts, he is very rich. Thus, he doesn’t need the office in order to become rich by selling out America to interest groups.

Jun 21 09:32

“THE COLLATERAL HAS RUN OUT” – JPM WARNS ECB WILL USE GREEK “NUCLEAR OPTION” IF NO MONDAY DEAL

Although estimates vary, Kathimerini, citing Greek banking officials, puts Friday’s deposit outflow at €1.7 billion. If true, that would mark a serious step up from the estimated €1.2 billion that left the banking system on Thursday and serves to underscore just how critical the ECB’s emergency decision to lift the ELA cap by €1.8 billion truly was. “Banks expressed relief following Frankfurt’s reaction, acknowledging that Friday could have ended very differently without a new cash injection,” the Greek daily said, adding that the ECB’s expectation of “a positive outcome in Monday’s meeting”, suggests ELA could be frozen if the stalemate remains after leaders convene the ad hoc summit.

Webmaster's Commentary: 

IF the fertilizer hits the ventilation shaft financially in Europe this week, it cannot manage to not affect American banking systems as well.

The Dow may respond precipitously, as the credit default swap markets may really become unhinged in the extreme.

Jun 21 09:22

Anti-austerity marchers told to 'go wave your banners while grown ups run the country' by Westminster councillor

A central London councillor has mocked anti-austerity protesters on Twitter telling them to “go wave your banners” while the “grown-ups get on running the country”.

Using the #EndAusterityNow hashtag , Conservative Westminster city councillor Richard Holloway dismissed the protest:

Webmaster's Commentary: 

That may have been his "Let them eat cake" moment!

Jun 21 09:05

EXCLUSIVE: Baron Rothschild indicted in France over fraud case

FRENCH police have been ordered to track down one of Europe’s wealthiest aristocrats over a fraud involving hundreds of British pensioners.

Baron David de Rothschild has been indicted over the allegations after the victims, mostly expats living in Spain, bought into his loan scheme.

The banking magnate will now be questioned in his native France, five years after a Marbella-based law firm began legal action against him.

French police have been told by a judge in Paris to track down the wealthy scion who has various homes in the country.

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