ECONOMY

Jun 24 13:46

Gov’t Seizes Control of All Your Financial Accounts

Everyone knows that the United States has gone bankrupt. As the U.S. government and the Fed poured trillions of dollars of YOUR money into the banks and markets after the 2008 economic collapse, this unprecedented level of money-printing is catapulting the U.S. debt to $28 trillion by 2018. But now, the U.S. government and the Fed are completely out of ammo. They desperately need money to maintain their own power, and taxes are no longer enough. So in order to keep the Ponzi scheme going, the U.S. government has made several highly controversial moves to be in position to seize control of all your financial accounts. And it’s becoming clearer by the day, if you want to protect your savings and wealth from government confiscation, you only have ONE choice.

Jun 24 13:45

Detroit water department to begin payment aid program after rate hikes, UN complaint

DETROIT, MI -- An $800,000 program to help low-income Detroiters pay their water bills will be put in place in July after services were cut off from some residents in recent months and complaints were made to a United Nations representative, officials said Tuesday.

Jun 24 12:18

Paypal limitations Scandal

Jun 24 12:02

U.S. Archivist David Ferriero: the IRS “did not follow the law”

Rep. Trey Gowdy hammered IRS Commissioner John Koskinen when he said that he found the IRS of no wrong doing. Gowdy pressed Koskinen on how he knows there was no criminal wrongdoing when he hasn’t looked at criminal statutes.

Gowdy blasted Koskinen and shouted, “You don’t have any idea of criminal wrongdoing or not!”

Gowdy, a former persecutor, told Koskinen that there is a “negative inference” because of the inability of the IRS to retrieve the Lerner emails that the IRS claim were destroyed.

It turns out though the IRS did break the law according to U.S. Archivist David Ferriero.

According to FreeBeacon.com, U.S. Archivist David Ferriero of the National Archives and Records Administration told Rep. Tim Walberg (R., Mich.) that the IRS “did not follow the law” when they failed to notify his administration that they had lost Lois Lerner’s email records.

Jun 24 11:58

City attorney: Detroiters should 'stand up and say no' to EM process

“This process is so tremendously flawed,” Smith said. “It goes against everything we’ve been taught about having a voice. It goes against everything I fight for.”

“...the people are represented by the mayor and the City Council. For one person to make a law that changes something that has been in effect...it’s something that affects the lives of so many in so many ways,” he added. “To simply say this is the way it’s going to be is wrong. It’s just a gun pointed at our heads. I’m hoping the people of the city of Detroit will stand up and say no, no more of this.”

Jun 24 10:39

Project Freedom USA

Mobilize with Jim Traficant!
end the IRS;Divorce the FED; Restore Honest Money

Webmaster's Commentary: 

Jim Traficant will be our on-air guest in the third hour of today's radio show.

Jun 24 08:43

133 G77 Nations vow to destroy America’s New World Order

When the richest and most powerful nations on Earth formed the G7, G8, G20 and the like, they united to combine their dominance over the remaining 175 countries that make up humanity. And for decades, the wealthiest 20 countries led by the US have gotten exponentially more wealthy at the expense of the poorest 175 nations, who in turn have gotten even poorer. That’s been the result of the West’s ‘New World Order’, led mainly by self-appointed global governments like the International Monetary Fund and the World Trade Organization.

Jun 24 08:02

'You have a problem with credibility': IRS chief comes under fire at House hearing

Embattled IRS Commissioner John Koskinen weathered another round of heated questioning at a Monday night hearing where lawmakers challenged his credibility over the discovery that years' worth of emails from ex-IRS official Lois Lerner have gone missing.

Webmaster's Commentary: 

Jun 24 06:39

Envoy: Venezuela Ready to Become Iran's Exports Hub in Latin America

"Venezuela is ready to turn into a center for Iran's technological exports to other Latin American states," Zambrano told FNA on Tuesday.

He referred to the attempts made by the western countries, specially the US, to prevent Iran from increasing its exports to other states, and said, "Yet, the United States' extensive sanctions against the Islamic Republic of Iran haven’t been able to prevent exports of Iran-made technology and products to the other world states."

Zambrano underscored that Washington has exerted sanctions and pressures against Tehran because the US officials are fearful of Iran's growing technology and export of its home-made technological products to the other world regions.

Iran has in recent years expanded friendly ties with Latin America, specially in economic, trade and industrial fields.

Jun 24 06:37

Russia can switch to payments with India, China in national currencies crushing dollar amid sanctions

Experts believe that the wish of the West to restrict Moscow’s cooperation with Brussels and Washington will play into the hands of the Russian economy. Wisdom and presence of mind are two components that will guarantee success for a new spiral of Russia’s cooperation with eastern countries. Also, this will allow us to counter-balance the risks that the European market is exposed to.

Jun 24 06:31

EU decision to ban imports from Crimea made under US influence

"It is a dead-end stance to punish citizens for the opinion on what country they should be in," he said.

The EU decision to ban imports from Crimea was made under US influence, Aksyonov said. "General agitation over Crimea's accession to Russia has calmed down in the EU. As far as I understand in this case the US authorities push this stance," he said.

Crimea's accession to Russia is irreversible, he said.

Webmaster's Commentary: 

"I can reverse it. I will reverse it. I am omnipotent!" -- Official White Horse Souse

Jun 24 06:29

US State Department promises financial, humanitarian assistance to Ukraine's National Guard

Deputy Secretary of State, Gregory Kausner, has visited a training center of the National Guard of Ukraine, the official website of the Ministry of Interior of the country reports. It is emphasized that Kausner is responsible for the issues of military assistance.

Webmaster's Commentary: 

"As for all those people in Detroit screaming for water, let 'em drink BEER! BWAH HA HA HA HA HA, oh my gawd I am so funny!" -- Official White Horse Souse

Jun 24 06:23

German gold repatriation leader disputes Bloomberg story

Peter Boehringer, leader of Germany's Repatriate Our Gold campaign --

http://www.gold-action.de/campaign.html

-- complains that today's Bloomberg News story about the German government's seeming confidence in the vaulting of its gold in the United States misquotes him and makes other errors and misrepresentations.

Webmaster's Commentary: 

Jun 24 02:59

THE SONASOFT SAGA - THE IRS HAS A CONTRACT WITH A COMPANY THAT BACKS UP ALL OF THEIR EMAILS!

John Koskinen's testimony before the House Ways & Means Committee basically came down to "The Dog Ate My Emails", infuriating when you consider that the IRS demands all Americans keep all financial records for up to 7 years for possible review by the IRS, while the IRS was free to dispose of embarrassing and criminal evidence at their discretion. Worse, apparently emboldened by Attorney General Eric Holser's steadfast refusal to allow the Department of Justice to open a criminal investigation into the IRS' actions (possibly to to the DOJ's own complicity in siccing the FBI on Obama's enemies), Koskinin refused to even apologize for the lost emails, barely able to keep the smirk off of his face!

Webmaster's Commentary: 

The story is going viral across the net today. By tomorrow the corporate media will have to cover it. That means Issa and Ryan will have no choice but to call the IRS on their obvious lie that there are no backups for the missing emails. Please share with all of your social media. I will keep this story at the top of the main page for a while, New stories will start just below.

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Jun 23 10:31

Dr Barbara Bellar sums up Obamacare in one sentence

Imagine if you will,… one Woman with more sense than the entire U. S. Gove put together.

Jun 23 09:14

Uncashed checks, safe deposit box items may appear on unclaimed property list

Wondering about an uncashed payroll check?

Or maybe a gift card? Even something left in a safe deposit box?

The Nevada state treasurer will be publishing its yearly unclaimed property list in several of Nevada’s newspapers at the end of the month. The Las Vegas Review-Journal is scheduled to publish the list Tuesday.

The unclaimed property varies and can range from uncashed payroll checks and gift cards to assets left in safe deposit boxes at banks or hotels.

The list has 312,555 properties that have been turned over to the state between July 2013 and May. There are more than $650 million in assets.

Jun 23 08:12

Checkers Versus Chess

For quite some time, we have been predicting that the Russians and Chinese will, at some point, bring an end to the petrodollar system that has virtually guaranteed the US the position of having its currency be the world's default currency. This position has allowed the US, in recent decades, to go on a borrowing and currency-printing spree, the likes of which the world has never seen.

Jun 23 06:36

U.S DEPARTMENT OF HOMELAND SECURITY HAS TOLD BANKS - IT MAY INSPECT SAFE DEPOSIT BOXES

Jun 22 17:49

Disabled Recipients of Social Security Fund Face Hefty Benefits Cut

Congressional gridlock is threatening the already thin lifeline of Social Security benefits that nearly 9 million disabled American workers rely on to feed, clothe and shelter their families.

Known as SSDI, the trust fund is one of two administered by the Social Security Administration (the other is for senior citizens), and its reserves will run dry in late 2016, if lawmakers don’t act sooner to shore them up. But the timing is poor; it falls in an election year and experts say it could become a target for political infighting as Americans gear up to go to the polls.

Jun 22 08:50

The Secret of Oz - U.S. dollar - the hidden war and economy.

Webmaster's Commentary: 

Time for a re-link

Jun 22 08:37

The US Healthcare System: Most Expensive Yet Worst In The Developed World

It would be logical then to think that as a result of this premium - the biggest in the world - the quality of the healthcare offered in the US among the best, if not the best, in the world. Unfortunately, that would be wrong and, in fact, the reality is the complete opposite: as a recent study by the Commonweath Fund, looking at how the US healthcare system compares internationally, finds, "the U.S. fails to achieve better health outcomes than the other countries, and as shown in the earlier editions, the U.S. is last or near last on dimensions of access, efficiency, and equity." In other words: most expensive, yet worst in the developed world.

Jun 22 06:37

The Bank Of England Lost 755 Tonnes Of Gold In 2013

According to the official 2014 report, the BoE had 755 tonnes less gold in their vaults in February 2014 relative to February 2013.
However, when we look at UK’s net gold trade over this period (March 2013 – February 2014), we can see 1593 tonnes were exported.
GLD’s stock lost 451 tonnes over this period.
This leaves a gap of 392 tonnes (1593 minus 1201), which had to be supplied by additional LBMA or private vaults in London.

Jun 22 06:20

US Dollar Under Grave Threat: Russia Plans Global Retaliation For Ukraine

With the CIA-coordinated coup d’état executed in Kiev came the very real prospect of a World War III. However, the much greater war is not being waged on the urban battlefields of Eastern Ukraine or on the Russian border; rather, it’s being prosecuted in various national economies and by the world’s largest central and commercial banks, transnational corporations and market exchanges. What is at stake is the very future and viability of the US Petrodollar as the reserve currency of the planet.

Webmaster's Commentary: 

In this age of instant global financial transactions, there is no need for a global currency. The idea is a hold-over from the end of WW2 when the Bretton-Woods agreement made the US dollar the global currency in an age where most financial transactions involved physical transfers of paper. It is not Russia, but the US that weakened the dollar as a global currency, first by over-printing the dollar to loot other nations of real produce and manufactured goods for the cost of ink and paper, then by Richard Nixon ending gold convertibility. The petro-dollar concept is simple. The US forces the world's resource-rich regions to sell their resources only for the dollar, from which the US gets a mafia-like "piece of the action" of every nation's commerce. But as I pointed out above, in this age of instant global financial transactions, there is no need for a single global currency and the rest of the world is fed up with the US money-junkies getting rich on their labor.

Jun 22 06:07

Establishment is Afraid of End The Fed Movement in Germany

Webmaster's Commentary: 

Check out 4:40 where they report that the German media is declaring anyone opposed to private central banking is an anti-Semite! This is a repeat of an editorial we saw here in the US a few weeks back that claimed a desire to live free of debt was anti-Semitism, and a very angry email I received that "reminded" me that the Talmud says Hod gave the Jews all the money on Earth and the Goyim may only borrow it at interest!

Jun 22 05:53

Lost Emails? The IRS Has a Contract with an Email Backup Company

As IRS commissioner John Koskinen sat on Capitol Hill belatedly informing a Congressional committee of the "disappearance" of years of email communications from a host of IRS employees under investigation--including Lois Lerner--it was discovered that the IRS had hired an email backup company to prevent just such a loss of data.

Webmaster's Commentary: 

The story is spreading all over the net today and by tomorrow the corporate media will be forced to acknowledge it.

Jun 21 10:23

IRS head won't apologize for lost Lerner e-mails

The commissioner of the Internal Revenue Service refused to apologize to Congress Friday for losing e-mails related to its targeting of conservative groups, saying it's still attempting to recover the data and it's too soon to know how many e-mails are missing.

"I don't think an apology is owed," Commissioner John Koskinen told the House Ways and Means Committee.

Webmaster's Commentary: 

Jun 21 07:55

Secret Trade in Services Agreement (TISA) - Financial Services Annex

Today, WikiLeaks released the secret draft text for the Trade in Services Agreement (TISA) Financial Services Annex, which covers 50 countries and 68.2%1 of world trade in services. The US and the EU are the main proponents of the agreement, and the authors of most joint changes, which also covers cross-border data flow. In a significant anti-transparency manoeuvre by the parties, the draft has been classified to keep it secret not just during the negotiations but for five years after the TISA enters into force.

Webmaster's Commentary: 

IF this trade deal is so great, why did its authors try to suppress its content for another 5 years after it is passed?!?

My educated guess would be, that it will be terrific for international corporate giants, with squads of attorneys and accountants, scrambling to find the sweetest sweet spot for nearly slave-labor costs, and the biggest tax loopholes possible.

But for the start-up, boost a company up by the seat of its pants?!? Not so much!!

Jun 21 02:45

The IRS Had a Contract With an Email Backup Company

The IRS had a contract with email backup service vendor Sonasoft starting in 2005, according to FedSpending.org, which lists the contract as being for "automatic data processing services." Sonasoft's motto is "email archiving done right," and the company lists the IRS as a customer.

In 2009, Sonasoft even sent out a Tweet advertising its work for the IRS.

Webmaster's Commentary: 

SHARE THIS EVERYWHERE!

UPDATE: I think I have found out why our representatives in DC are so clueless. I tried using the contact page at Darrel Issa's website but was blocked because I am in his district. I then tried faxing a hard copy of this article to his DC office using the FAX number from his website ... four times! All four failed, the first because his FAX doesn't support color and the final three with a communications error. If any of Rivero's Rangers has a contact on Issa's committee, get this article to them now!

UPDATE 2: I tried FAXing to Darrell Issa's district office. That connection also failed.

UPDATE 3: I tried using the web form over at the Committee On Oversight & Government Reform to send them the info on Sonasoft. That too will not function, simply responding with "An error occurred" when clicking the submit button.

This cannot just be coincidence.

UPDATE 4: The above link now shows a "404 page not found" error! But there is another copy of the article saved HERE! MAKE A LOCAL COPY BEFORE IT GETS ORWELLED!

UPDATE 5: I went to an office supply store and FAXed the original article to Darrell Issa's Washington DC and district offices. Unlike my home, (where the FAX machine is only three months old) the FAXes from the office store went through without any problems at all. Here are the reports.


Issa's District office

Issa's DC office
So, Issa's office now has the information. Included hard copy of the original article, which is fortunate given that the original has been yanked from the website without explanation.

U0PDATE 6: The clients page at Sonasoft still lists the IRS as a customer, about half way down the page!

UPDATE 7: The original article at reason.com has now been restored!

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Jun 21 02:45

SONASOFT TOP GOVERNMENT CUSTOMERS (pdf file)

6/20/14, 5:29 PM
Sonasoft | Government Contracts
Page 2 of 2
http://profiles.smartprocure.us/organization/sonasoft
Department of Treasury: Internal Revenue Service
$13,983
on
9/15/2010
Sonasoft Software Maintenance Renewal Contracting
Office: DEPT OF TREAS/INTERNAL REVENUE SERVICE

Webmaster's Commentary: 

Okay, this proves the IRS was using Sonasoft email backup services through the period of Lois Lerner's "lost" emails.

Jun 20 17:23

The IRS Had a Contract With an Email Backup Company - Another online copy.

The Internal Revenue Service (IRS) said it can't provide emails sent between 2009 and 2011 that were requested by congressional investigators because of hard drive crashes.

The agency said that emails stored on dead drives were lost forever because its email backup tapes were recycled every six months, and employees were responsible for keeping their own long-term archives.

The IRS had a contract with email backup service vendor Sonasoft starting in 2005, according to FedSpending.org, which lists the contract as being for "automatic data processing services." Sonasoft's motto is "email archiving done right," and the company lists the IRS as a customer.

In 2009, Sonasoft even sent out a Tweet advertising its work for the IRS.

Webmaster's Commentary: 

We can post these faster than the NSA can erase them!

Jun 20 08:12

IRS commissioner won't apologize for lost Lerner e-mails

Jun 20 08:08

America : Freedom to Fascism

Webmaster's Commentary: 

Time to share this video with everyone you know!

Jun 20 07:50

Britain to sign yuan clearing deal with China next week

Britain and China will sign an agreement next week to set up the first clearing service for renminbi trading outside Asia, putting London in a prime position to offer yuan trade business in Europe.

Jun 20 07:43

IMF ready to ask ECB to begin quantitative easing

The managing director of the International Monetary Fund is expected to launch an appeal to the European Central Bank on Thursday, urging it to deal with deflationary risks by beginning a form of quantitative easing, the Financial Times newspaper reported.

That would include large purchases of sovereign bonds to stimulate growth, the newspaper said Wednesday, citing a draft of a statement from the IMF based on its annual evaluation of the eurozone’s economic health.

Webmaster's Commentary: 

After all, look how well it worked in the US!

Jun 20 07:40

"De-Dollarization" Continues - China Starts Direct Trade With UK

Following the initial de-dollarization meeting, there has been a slew of anti-dollar moves around the world (including Gazprom's shift of 90% of its clients to non-dollar payments). However, on the heels of the "anti-dollar alliance" discussions yesterday, DW reports that China would start direct trade between the renminbi and the British pound on Thursday. China's Foreign Exchange Trade System (CFETS) confirmed Sterling and yuan would be directly swapped without using the US dollar as an intermediary.

Webmaster's Commentary: 

Right now, it would make sense to both acquire small, untraceable amounts of silver coins, and identify those skills you can barter when the dollar goes under.

And right now, it appears to me that this event will be happening sooner rather than later; leadership in Russia and China understand, very clearly, that the one way to drive the US economy, already reeling, morally and fiscally, from these horrific pre-emptive wars,into oblivion, is to do every bit of trade possible without using the US dollar.

I would almost be willing to bet that we will see this trend escalate around the world, and rapidly.

Jun 20 06:40

U.S DEPARTMENT OF HOMELAND SECURITY HAS TOLD BANKS - IT MAY INSPECT SAFE DEPOSIT BOXES

Webmaster's Commentary: 

Another reason to stop doing business with the banks!

Jun 20 06:29

The End Of Anglo-American Hegemony

As Western dependence on Third World resources has increased, it has become increasingly necessary for the international bankers and their corporations to include local elite cliques in their capital accumulation schemes, making a small group of local people extremely wealthy so that this group will cooperate in selling local resources cheaply to the West.

Jun 19 16:11

Former Goldman Sachs trader upset at $8.25M bonus, files suit seeking $16M more

Poor baby.

A former Goldman Sachs trader angry that he got a bonus of only $8.25 million has gone to court to get the millions of dollars that he says his bosses still owe him.

Webmaster's Commentary: 

I don't know about you but I would be deliriously happy with just $8 million! I could move out of Hawaii to some city with lots of great choirs and singers for Claire to throw music at! I could build Claire a new music studio with a real audio booth!!! I could get my own audio/video streaming server! I could fund the food programs! I could build that ultra-low frequency radio telescope and listen for the AC hum from alien civilizations!!!

Anyone reading this who would NOT be happy with just $8 million?

What is wrong with these money-junkies!

Jun 19 14:20

Ukrainian Conflict Could Lead to Gas Rationing

Michael Rivero: Did the US arm the rebels now rampaging through northern Iraq?

Jun 19 08:59

Argentina says next bond payment 'impossible', default looms

Argentina threatened to default on its debt on Wednesday when the government called it "impossible" to pay bond service due on June 30, citing a U.S. court decision earlier in the day that increased pressure on the economically ailing country.

Buenos Aires is locked in a 12-year legal fight with creditors who refused to participate in two restructurings that followed Argentina's 2002 default on $100 billion in bonds.

Webmaster's Commentary: 

I wonder how many people bought credit default swaps on Argentina's debt?

What Argentina ought to be doing is looking for acts of economic sabotage by US intelligence agencies intended to prevent them from being able to repay their loans, to keep them under control and seize their real assets. This was a very common trick of the US in South America all during the 1970s and 1980s. It would work like this. Loan a country so many millions of dollars to develop their coffee industry, then introduce a parasite that wrecked the coffee plants so the loans could not be repaid, then demand political and economic concessions, and transfer of public assets into private hands.

If Argentina could document just one such incidence of sabotage, then they could declare the whole debt fraudulent.

Jun 19 08:19

Jack Lew: We're committed to supporting Israel's economy

Webmaster's Commentary: 

Wish you felt that way about Detroit!

Jun 19 08:13

Russia can switch to payments with India, China in national currencies crushing dollar amid sanctions - experts

The European economy, experts point out, still remains in the grip of a crisis, while China, for example, is prosperous. The West, including the US, has begun to curtail the profitable relations with Russia on the background of Ukrainian problems, which has nothing to do with the East. And business always develops in the environment of stability and mutual interest. It is reasonable that at present the Russian economy – that is investments, exports, imports and technology – is speeding up its advance in the eastern direction, President of the Centre of Strategic Communications Dmitry Abzalov says. Instead of America and Europe, our target is South-East Asia now.

Jun 19 08:02

Putin Advisor Proposes “Anti-Dollar Alliance” To Halt US Aggression Abroad

It has been a while since both Ukraine, and the ongoing Russian response to western sanctions (which set off the great Eurasian axis in motion, pushing China and Russia close together, and accelerating the “Holy Grail” gas deal between the two countries) have made headlines. It is still not clear just why the western media dropped Ukraine coverage like a hot potato, especially since the civil war in Ukraine’s Donbas continues to rage and claim dozens of casualties on both sides. Perhaps the audience has simply gotten tired of hearing about mixed chess/checkers game between Putin vs Obama, and instead has reverted to reading the propaganda surrounding just as deadly events in the third war of Iraq in as many decades.

Jun 19 06:35

Banks may have to raise new capital

The possibility of the domestic banks having to raise new capital following the ECB stress tests "cannot be precluded" even though AIB, Bank of Ireland and Permanent TSB all passed the Central Bank’s Balance Sheet Assessment (BSA) at the end of 2013, according to the IMF in its latest review of the Irish economy.

Webmaster's Commentary: 

"Well, gee; just look at all that cash sitting in those savings accounts!"

Jun 19 06:33

Iran hangs billionaire over $2.6b bank fraud

A billionaire businessman at the heart of a $2.6 billion state bank scam, the largest fraud case since the country's 1979 Islamic Revolution, was executed Saturday, state television reported.

Authorities put Mahafarid Amir Khosravi, also known as Amir Mansour Aria, to death at Evin prison, just north of the capital, Tehran, the station reported. The report said the execution came after Iran's Supreme Court upheld his death sentence.

Webmaster's Commentary: 

Iran knows how to deal with crooked money-junkies!

Jun 18 13:06

Detroit employees to see cuts in paychecks under new pension plan

City employees will see deductions in their paychecks beginning next month as Detroit moves to implement a new hybrid pension plan, the emergency manager’s office said Wednesday.

Jun 18 12:31

On Obamacare Sebelius Spreads The Blame Around

Former HHS secretary Kathleen Sebelius spoke to an Obamacare group and spread the blame around for the law’s many failures. Oddly enough, she didn’t assign any of the blame to those who wrote the law, signed the law, or implemented the law.

Jun 18 11:48

Income Gap Widens As American Factories Shut Down

In August 2008, factory workers David and Barbara Ludwig treated themselves to new cars – David a Dodge pickup, Barbara a sporty Mazda 3. With David making $22 an hour and Barbara $19, they could easily afford the payments.

A month later, Baldwin Hardware, a unit of Stanley Black & Decker Corp., announced layoffs at the Reading plant where they both worked. David was unemployed for 20 months before finding a janitor job that paid $10 an hour, less than half his previous wage. Barbara hung on, but she, too, lost her shipping-dock job of 26 years as Black & Decker shifted production to Mexico. Now she cleans houses for $10 an hour while looking for something permanent.

They still have the cars. The other trappings of their middle-class lifestyle? In the rear-view mirror.

Jun 18 10:12

Kicking Against the Establishment: It’s Time for Truth in Media

Rhetoric coming out of Washington is constantly using and abusing the term “democracy” as a concept to be defended and cheered. But what we see in the US is a far-cry from any real and accountable system of democracy.

In fact, the United States of America couldn’t be farther from being “the land of milk and honey” as it once proclaimed itself to be; its promise of wealth and stability, the oft-referenced yet seldom seen “American dream”, is undeniably buried in the realm of wishful thinking — for the majority of people, that is.

Elections give the illusion of choice while maintaining a status quo that sees the rich get richer and the poor scrambling to redefine their definitions of “rock bottom”.

Jun 18 09:41

For third straight month, China cuts US debt holdings

China cut its holdings of United States government debt in April for the third straight month, which may reflect a continuing move from US assets, according to an analyst.

China, the largest foreign holder of US Treasuries, held $1.26 trillion in US debt as of April, down $8.9 billion from the previous month and below the $1.27 trillion mark for the first time since August 2013, the US Treasury Department said Monday in a monthly report. China's holdings hit a high of $1.317 trillion in November.

Kent Troutman, a research analyst at the Washington-based Peterson Institute for International Economics (PIIE), said the decreases each month could be due to benign shifts in the portfolio.

Webmaster's Commentary: 

"...due to benign shifts in the portfolio.", MY ASTROLABE!!

The Chinese government is many things, but foolish about the way the US economy is headed, is not one of them.

They are headed out of the US treasury note market, because these notes are only worthless pieces of paper at this time, but they are doing it gently and gradually, so as not to harm their own economy, which has horizontally invested in American businesses over the years, like last year's purchase of Smithfield Foods by Shuanghui International Holdings Ltd.

Jun 18 09:19

Chrysler Ignition Switches Are Investigated

Concern over the safety of ignition switches in vehicles is spreading beyond General Motors.

The National Highway Traffic Safety Administration is investigating about 1.2 million Chrysler minivans and sport utility vehicles over a concern that jostling the ignition key could accidentally turn off the engine and disable the air bags.

Webmaster's Commentary: 

Has the USA declined so far we can't make a reliable ignition switch any more?

Jun 18 08:31

Ex-Goldman director goes to prison, still owes $13.9 million fine

Former Goldman Sachs Group Inc (GS.N) director Rajat Gupta on Tuesday began serving his two-year prison term for insider trading, and lost his challenge to a $13.9 million civil penalty and permanent ban from acting as a public company officer.

Gupta, 65, reported to FMC Devens, a medical facility and satellite camp in Ayer, Massachusetts about 40 miles (64 km) northwest of Boston, a spokesman for the Federal Bureau of Prisons said.

Webmaster's Commentary: 

The selected sacrificial lamb gets thrown to the wolves to save the real criminals at the top!

Jun 18 08:29

GM hit with $10 billion lawsuit saying recalls damaged brand

According to a complaint filed on Wednesday with the federal court in Riverside, California, GM hurt customers by concealing known defects and valuing cost-cutting over safety, leading to roughly 40 recalls covering more than 20 million vehicles this year alone.

It said this has caused a variety of late-model vehicles to lose roughly $500 to $2,600 in resale value.

Hagens Berman Sobol Shapiro, which filed the lawsuit, said the case could be worth more than $10 billion, and is the first seeking to force GM to pay a potential 15 million car and truck owners, not just those whose vehicles were recalled, for damage to its brand and reputation.

Jun 18 07:36

We Are So Not Prepared For Another Oil Shock

With the Middle East now lurching towards yet another major war, it’s easy to envision a supply disruption that sends oil back to its previous high or beyond. So the question becomes, what would that do to today’s hyper-leveraged global economy? Bad things, obviously. But before looking at them, let’s all get onto the same page with a quick explanation of why everyone seems so mad at everyone else over there:

The story begins in 570 A.D. in what is now Saudi Arabia, with the birth of a boy named Muhammad into a family of successful merchants. After having some adventures and marrying a rich widow, around the age of 40 he begins having visions and hearing voices which lead him to write a holy book called the Qur’an. More adventures follow, eventually producing a religious/political system called Islam that comes to dominate a large part of the local world.

Webmaster's Commentary: 

Not unlike the Roman Catholic Church, which hunted down and exterminated the living descendants of the historical Jesus who claimed control of Christianity, to protect their "Apostolic descent", i.e. Popes chosen by consensus of the Cardinals.

Jun 18 07:29

Facing Extinction, Hedge Funds Go All In: Take Net Assets To All Time High, Cash To Record Low

Several years ago we said that in the New centrally-planned normal, in which the Fed chairmanwoman is the Chief Risk Officer of the s0-called market, and where no selloffs are allowed because any major drop in a market artificially supported by trillions in artificial liquidity, would probably be its last (as it would crush the "credibility" of all-in central banks) that old "smartest money" concept, the 2 and 20 hedge fund, has become an anachronistic relic of the past (especially once Stevie Cohen ruined the game for everyone and took legal insider trading aka "expert network" out of the picture and forced hedge funds to make money the old fashioned way - legally).

Jun 18 07:28

The Next Obama Debt Bomb About To Implode

A 517% increase in student debt in the last five years. Can there be any doubt this shocking imbalance in the cost of college education was not planned? Read on to learn of the stunning, and insidious numbers that reflect yet another war on America orchestrated by an administration determined to push the entire nation over the brink…

Webmaster's Commentary: 

The Federal Reserve system is a pyramid structure. Because all currency is loaned into circulation at interest, the system creates more debt than money with which to pay that debt.

The only way to keep the system solvent is to constantly find new borrowers which allows the creation of new money, part of which is then used to pay the interest on the old money. But the total aggregate debt will continue to outgrow the total available money supply.

We have reached a point where the bankers and the government are trying to find new ways to force people deeper into debt to keep the Ponzi scheme going, and the college students have become the latest victims of this scam, brought into debt-slavery by cutting off financial support for higher education and raising the cost of college much higher than can be explained by the rate of inflation. This forces the kids into debt to get their diplomas.

The problem is that we have reached a stage where people are being forced to borrow money, and loans handed out willy-nilly, without any regard for whether those loans can actually be paid back. Sooner or later, the rates of defaults on all these imposed loans will overtake the creation of new money from new loans and the pyramid will collapse, as all pyramids have done throughout history.

Jun 18 06:21

Jack-in-the-Box Moves to Accept Food Stamps in Central Texas

On the heels of immigration crisis, company envisions huge potential market to be tapped..

Webmaster's Commentary: 

Sent in by a Texas Reader.

Jun 17 13:17

Wealthy Clintons Use Residence Trusts to Limit Estate Tax They Back

Bill and Hillary Clinton have long supported an estate tax to prevent the U.S. from being dominated by inherited wealth. That doesn’t mean they want to pay it.

To reduce the tax pinch, the Clintons are using financial planning strategies befitting the top 1 percent of U.S. households in wealth. These moves, common among multimillionaires, will help shield some of their estate from the tax that now tops out at 40 percent of assets upon death.

Jun 17 13:11

Detroit retirees denounce plan to raid city workers’ savings accounts

In addition to deep cuts in pensions and health care benefits, nearly 5,000 retired Detroit city workers will be forced to pay back tens of thousands of dollars in earnings from their retirement savings accounts, according to the city’s bankruptcy restructuring plan.

Jun 17 10:17

Risk of new Argentinian debt default after vulture fund verdict

President Cristina Fernandez says Argentina can’t possibly comply with U.S. court orders to pay $1.5 billion in cash to winners of a decade-long debt dispute, the position her country was left in Monday when the U.S. Supreme Court refused to hear her government’s final appeal.

Delivering a nationally broadcast address Monday night, Fernandez expressed willingness to negotiate, but said there is simply no way that Argentina can pay in cash, in full, starting just two weeks from now, which is what the U.S. courts have ordered.

“What I cannot do as president is submit the country to such extortion,” Fernandez said.

Under the U.S. court orders, Argentina must hand over $907 million to the plaintiffs, or lose the ability to use the U.S. financial system to pay an equal amount due June 30 to holders of other Argentine bonds.

Webmaster's Commentary: 

This decision may well plunge the Argentinian economy into complete chaos.

Jun 17 10:02

Federal Reserve Wants to Charge You for Pulling Your Money Out of Bond Funds

A new reason has just emerged to get out of bond funds fast.

The Financial Times is reporting that:

Federal Reserve officials have discussed whether regulators should impose exit fees on bond funds to avert a potential run by investors, underlining concern about the vulnerability of the $10tn corporate bond market.

Officials are concerned that bond funds are becoming “shadow banks”, because investors can withdraw their money on demand, even though the assets held by the funds can be hard to sell in a crisis. The Fed discussions have taken place at a senior level but have not yet developed into formal policy, according to people familiar with the matter...Exit fees would seek to discourage retail investors from withdrawing funds, thereby making their claims less liquid and making a fire sale of the assets more unlikely.

Jun 17 08:50

Price Index for Meat, Poultry, Fish & Eggs Rockets to All-Time High

The price index for meats, poultry, fish, and eggs hit an all-time high in May, according to data from the Bureau of Labor Statistics (BLS).

In January 1967, when the BLS started tracking this measure, the index for meats, poultry, fish, and eggs was 38.1.

In May 2014, the index for meats, poultry, fish, and eggs was 252.832, the highest it has ever been.

Jun 17 07:04

Size of income tax drop surprises U.S. states: study

Most U.S. states were surprised by the size of the drop in their personal income tax collections this April, even though they had expected a decline, according to a report released by the Rockefeller Institute of Government on Thursday.

Webmaster's Commentary: 

That is because the state governments are relying on the official US Government reports on employment to forecast their tax revenues, but those official US Government numbers are as phony as Saddam's nuclear weapons, so the state keep coming up short.

Jun 17 06:22

Fed Prepares For Bond-Fund Runs, Looking At Imposing "Exit Fee" Gates

It was two short years ago that the Fed, in its relentless attempt to push everyone into the biggest equity bubble of all time, did something many thought was merely a backdoor ploy to forcibly reallocate capital out of the $2.7 trillion money market industry and into stocks when, as we wrote in July 2012, it contemplated imposing suspensions of fund redemptions to "allow for the orderly liquidation of funds assets." Or in other words "gate" money markets.

Jun 17 05:51

Argentina: Won’t submit to U.S. ‘extortion’ on debt

Argentina's president is refusing to go along with a U.S. judge's ruling requiring a $1.5 billion repayment of defaulted bonds, even though the U.S. Supreme Court rejected her government's appeals and left the order in place.

In a national address Monday night, Cristina Fernandez repeatedly vowed not to submit to "extortion," and said she had working on ways to keep Argentina's commitments to other creditors despite the threat of losing use of the U.S. financial system.

Jun 16 11:47

Violence in Iraq Means Profits for Beechcraft, Lockheed, Raytheon and other Weapons Makers

U.S. companies are reaping big benefits from the Iraqi government’s battle with ISIS militias. Three sales, including some big-ticket items, announced last month will put nearly $1 billion in the pockets of American defense contractors if Congress approves the sales.

Beechcraft Defense Co. and eight other contractors are selling 24 AT-6C Texan II aircraft, plus spares and other equipment to Iraq. That deal is worth about $790 million. The plane is used for “light attack and intelligence, surveillance and reconnaissance.”
AM General has a deal to send 200 of its venerable Humvees to help guard oil installations. The contract, which includes spares and equipment such as radios and machine gun mounts, is worth $101 million.
Raytheon has a $90-million deal for seven aerostats along with 14 Rapid Aerostat Initial Deployment (RAID) Tower systems to be used for command and control by the Iraqi military.

Jun 16 10:08

Donetsk Republic takes under control national bank branch

“We have taken them under control as money collected on the territory of the people’s republic, including through the tax inspection, went to Kiev,” a spokeperson says

Jun 16 07:21

“Cluster Of Central Banks” Have Secretly Invested $29 Trillion In The Market

Another conspiracy “theory” becomes conspiracy “fact” as The FT reports “a cluster of central banking investors has become major players on world equity markets.” The report, to be published this week by the Official Monetary and Financial Institutions Forum (OMFIF), confirms $29.1tn in market investments, held by 400 public sector institutions in 162 countries, which “could potentially contribute to overheated asset prices.” China’s State Administration of Foreign Exchange has become “the world’s largest public sector holder of equities”, according to officials, and we suspect the Fed is close behind (courtesy of more levered positions at Citadel), as the world’s banks try to diversify themselves and “counters the monopoly power of the dollar.” Which leaves us wondering where are the central bank 13Fs?

Jun 15 08:28

Walgreens' Planned Move From Illinois to Switzerland Would Save $4 Billion in Taxes

Walgreens could cost taxpayers $4 billion in lost revenue over five years should the company decide to renounce its American corporate legal status and move its official address to Switzerland, a tax haven. The company is widely reported to be considering this move and says it will announce its intentions as soon as this summer. Walgreens is the nation’s largest pharmacy retailer with 8,200 stores and locations in all 50 states.

Jun 15 07:19

EU presidential hopeful blind drunk on Europhilia?

The European Parliament is having a hissy fit about the new president of the European Commission. That job is currently held by Jose Manuel Barroso, the one-time Maoist who had a brief stint as Portuguese prime minister, delivering precisely none of the reforms the nation needed before its spectacular economic failure required a bailout. However, by that stage Barroso was one of the presidential crew on a handy US$30,000 per month. Provided he never says a bad word against the EU so long as he lives, he stands to get a rich pension too. Not bad for a career overseeing failure.

Jun 14 13:40

New York Times Says "Lack Of Major Wars May Be Hurting Economic Growth"

It is no secret that as the Fed's centrally-planned New Normal has unfolded, one after another central-planner and virtually all economists, have been caught wrong-footed with their constant predictions of an "imminent" economic surge, any minute now, and always just around the corner. And yet, nearly six years after Lehman, five years after the end of the last "recession" (even as the depression for most rages on), America is about to have its worst quarter in decades (excluding the great financial crisis), with a -2% collapse in GDP, which has been blamed on... the weather.

Jun 14 07:21

The roots of Eric Cantor’s defeat

The charge might surprise some on Capitol Hill, who view Speaker John Boehner, R-Ohio, as far more eager to negotiate with the enemy than his No. 2. Yet many on the right, in Washington and the Old Dominion, also see Cantor as a squish — a supporter of immigration reform who voted to raise the federal debt ceiling in 2011 and pass the TARP bank bailout in 2008, the measure that helped spark the entire tea party movement.

Webmaster's Commentary: 

FOX News is reporting that Cantor's defeat will revive the debate over raising the debt ceiling for the Federal Government. This IS an issue all Americans need to pay attention to as we head into the November elections. But all Americans need to understand that the visible debate is a smokescreen for the real question every American needs to be asking right now.

Please share the above graphic with your social media networks.

Jun 13 13:45

The Baltic Dry Index Is Having Its Worst Year Ever

At 906, the Baltic Dry Index slumped to 12-month lows showing absolutely no signs whatsoever of the Q2 renaissance in global growth that has been heralded by all the highly-paid meteoroconomists.

Jun 13 11:30

GM Flunks Derek Zoolander School For Bailed Out Companies Who Can't Build Cars Good, Recalls All New Camaros

Another week, another massive GM recall, this time the bailed out company, which clearly is unable to build cars on the "first" attempt, announcing moments ago that it is recalling all current generation Chevvy Camaros "because a driver’s knee can bump the key FOB and cause the key to inadvertently move out of the “run” position, with a corresponding reduction or loss of power."

Jun 13 11:29

UMich Consumer Confidence Drops (Again); Misses By Most In 18 Months

Following last month's drop and disappointing miss, University of Michigan Consumer Confidence just got even worse. Despite record high stock prices and near record high car purcahsing exuberance, consumer confidence tumbled for the 2nd month in a row (just when the pent-up demand of Q1 is supposed to kick in). This is the biggest miss of expectations since Dec 2012 and appears to confirm the lack of exuberance seen in the government's survey data.

Jun 13 09:27

BITCOIN COMES TO ISRAEL

Israel was in a state of panic when the concept of Bitcoin was introduced …. How would they continue to receive the BILLION$ of Dollars they get annually from the US Taxpayer….

Those fears were alleviated this week when Bitcoin was activated here.

Jun 13 09:18

Sorry, You're Not Allowed: Capital Segregation and Rising Inequality

Once the gains have been reaped, all that's left for the majority are toxic risk and losses.

The New Nobility don't swim in that carefully limited pool: they control the distribution of food pellets (gain and yield in our analogy) to the masses thrashing about in the main tank. Regardless of who wins and loses the struggle for the few pellets tossed in the tank, the few who control the pellets profit.

The majority swimming fruitlessly around the barren main tank are unaware of the tanks and wild river beyond. Special tanks--dark pools and similar reserved havens for the wealthy--are off-limits to the middle class in the main tank. In these "New Nobility only" pools, risk is low and gains are plentiful.

Jun 13 09:13

Are the Police Becoming a Domestic Military?

What do you get when you combine post-war military surplus equipment with US domestic law enforcement agencies?

I don’t know. And I’m not sure I want to.

The sheer volume of equipment coming into the country (see the wave-making New York Times article “War Gear Flows to Police Departments”) makes it look like we’re building another branch of the military—but what for? Different people have different answers, but they’ve all got one thing in common: Fear.

The rise in mass shootings has some members of the law enforcement community calling the escalation an exercise in preparedness. Some cite the threat of domestic terrorism, invoking the specter of the Boston Marathon bombings as proof enough. Other responses are simply brain-searing, like this one from the Morgan County Sherriff’s department, featured in the New York Times:

“In the Indianapolis suburbs, officers said they needed a mine-resistant vehicle to protect against a possible attack by veterans returning from war.”

Webmaster's Commentary: 

There has been a war against the American people - and American families - for quite some time now. This hyper-militarization of the police is a final phase in the process.

The US government is expecting unrest, both from the poorest segments of our communities, when food and money run out, and other individuals who have simply had enough of miserably ill-conceived foreign and domestic policies.

Please, no matter how much you get ticked off, do not indulge in violence: that is precisely the battle the government is prepared to put down, and mercilessly, in a homicidal rage.

Just please, be prepared. Have long-term storable food and water; extra meds for your family and your pets; have a plan, in case you need to bug out, in terms of how to reconnect with family and friends; keep no more money in your bank account than you absolutely need to pay your bills; and make sure you have some gold and silver, purchased in small, untraceable amounts. Learn which of your neighbors can be counted upon to work with you, and barter with you, if times get very rough.

Jun 13 07:12

A Disappeared Book on Wall Street History Provides a Dead Serious Warning

In 2011, Darcy Flynn, an SEC lawyer, told Congressional investigators and the SEC Inspector General that for at least 18 years, the SEC had been shredding documents and emails related to its investigations — documents that it was required under law to keep. Flynn explained to investigators that by purging these files, it impaired the SEC’s ability to see the connections between related frauds on Wall Street.

In 2010, we reported at CounterPunch that not only was it next to impossible to find on line the original text of the historic Glass-Steagall Act which had protected the U.S. economy from the ravages of Wall Street’s recklessness for seven decades until its repeal in 1999, but the National Archives wanted to charge me $1505 to obtain a copy of this public legislation. After much sleuthing, we obtained a copy from the St. Louis Fed and made it available to the Internet Archive which has kindly kept it alive on its web site.

Jun 13 07:07

Happy Friday the 13th! Knights Templars sue the Pope

The heirs of the Knights Templar have launched a legal battle in Spain against the Pope to salvage the reputation of the order accused of heresy and dissolved 701 years ago.

Members of the Association of the Sovereign Order of the Temple of Christ claim that when the order was dissolved by Clement V in 1307 more than 9000 properties and commercial ventures belonging to the knights (worth $168 billion) were appropriated by the church.

Webmaster's Commentary: 

How do I get in on this!

Jun 13 06:27

'Worst in years': France hit by nationwide train strike (PHOTOS)

French trade unions are to extend their nationwide rail strike – which has caused the worse disruption to the country in several years – to Friday. Half of all train journeys across France have been canceled.

Jun 12 15:15

NY Times: President Obama Should Unilaterally Raise the Tax Rate on Carried Interest Earned by Hedge Fund Managers

President Obama could change the tax treatment of carried interest with a phone call to the Treasury Department. But the White House will need a precise understanding of the regulatory landscape to make a change that is fair, easy to administer, and will hold up in court.

The administration has increasingly relied on executive branch rule-making authority to make policy without waiting for a gridlocked Congress to act. The White House has made significant changes to education policy, immigration policy, environmental standards and climate change policy, and, most recently, student loans. And it has the legal authority to unilaterally change the tax treatment of carried interest. ...

Jun 12 06:12

Something like meat but not meat

It’s just capitalism at work. Again. It’s just one heavily toxic megacorp buying up another toxic megacorp and all of it making a perverse sort of sense, given how Tyson Foods is one of the largest (and scariest) industrial meat purveyors in the land, and its new, $8 billion acquisition, Hillshire Brands, makes some of the weirdest and most fat- and preservative-encrusted “handheld” (it’s a category) meat-like products in the universe (Jimmy Dean, Sara Lee, Ballpark Franks, et al) – the kinds of products that, shortly after you eat them, cause your vision to wobble, your heart to seize and random extremities to lose sensation for a few hours. You know, just for fun.

Jun 11 21:09

Analyst declares RadioShack stock worthless, saying a turnaround is ‘nearly impossible’June 11, 2014, 3:25 PM ET

RadioShack Corp.’s mounting losses amid declining sales have been widely covered in the media. The company’s misfortune has also inspired Wall Street analysts to slash their target price on the stock, with a range this year of $1 to $3 a share.

However, that changed on Wednesday after B Riley analyst Scott Tilghman, who already rates the stock RSH a sell, lowered his price target to zero from $1 a share after the company on Tuesday reported another in a series of wider-than-expected losses. The company’s cash level also plunged. Chief Financial Officer John Feray said Tuesday the company has enough liquidity to execute its turnaround over the next 12 months, and that it’s examining expenses from utility bills to ocean freight.

Webmaster's Commentary: 

Radio Shack is where I used to go for parts and supplies to build things. That was their strength. But they dropped support for electronics hobbyists and went with the same consumer-level products everyone else is selling, and are now paying the price for forgetting what their original success was based on.

Jun 11 11:48

Banker pleads guilty to spending $220,000 at strip clubs

A former executive at TD Bank in Maine has pleaded guilty to using a corporate credit card to spend nearly $220,000 at strip clubs in just one year.

Jun 11 09:30

Russian bank chiefs take aim at US dollar

Russian companies will make bypassing the U.S. dollar in international transactions a top priority, the heads of three Russian banks said this week, in the latest sign that Russia is turning its back on the West and moving toward Asia.

Webmaster's Commentary: 

Last night Claire and I watched "Jack Ryan: Shadow Recruit." Sold using the character names from Tom Clancy's novels, this was a thinly disguised piece of gratuitous Russia bashing with a story line about a Russian attempt to undermine the US economy. When we saw that, both Claire and I burst out laughing at the obviousness of it all.

To be clear; the problems with the US dollar were created by a privately-owned central bank issuing all of the public currency as a loan at interest, then creating more dollars out of thin air trying to stay ahead of the impossible-to-pay debt that piled up. They were aided and abetted by a federal government that 100 years ago sold the nation back into the slavery of the very same predatory banking system we fought a revolution to be free of, then looked the other way as the debt-crippled financial system descended into outright fraud and criminality to perpetuate itself.

Now the entire US/FED system is on the verge of collapse, and the money-junkies are desperate to pin the blame on someone else to save themselves from the righteous wrath of the people whose lives have been plundered.

Jun 11 09:20

Cafeteria Worker Throws Out Student's Lunch Because He's 26 Cents Short

A father is blasting his young son's school after a cafeteria worker at Kent, Washington's Mill Creek Middle School threw away the kid's lunch because he was 26 cents short.

"He gets up to the front and they say there's not enough in his account, so they take his food, and in front of him, throw it away," Jimmie Keys, the boy's father, told Komo News.

Jun 11 08:54

Indiana GOP candidate: ‘No one has the guts’ to let poor people ‘wither and die’

A northwest Indiana Republican has backtracked on outrageous comments he made on Facebook about poor people.

John Johnston, who is challenging Democratic state Rep. Chuck Moseley for the 10th District seat, said during a social media discussion on poverty that “no one has the guts to just let them wither and die.”

“The voters are the ones in charge,” Johnston said. “(H)owever when only 10-11 percent show up to vote, not much will change. People simply are not hurting enough, or simply happy enough that they will do nothing. consequently the dole continues.”

However, Johnston told the newspaper he didn’t advocate the end to programs such as welfare or food stamps.

“My main point is that the programs are used as political tools,” Johnston said. “Sometimes it hurts, but you might give them less to motivate someone to get a job.”

Webmaster's Commentary: 

No, Mr. Johnson, given the current state of the American body politic, the voters are absolutely NOT in charge; it is the major corporations which fund election cycles which are in charge.

By the time elections happen at the state or national level, all candidates have been thoroughly vetted by the major corporations, to make sure that they will deliver legislation which is favorable to them, first and foremost.

And as to those people on welfare who should "get a job", just what jobs are available for them, when college graduates are now earning minimum wage at discount big box stores, because the decently paying jobs have been offshored/outsourced, courtesy of those major corporations which fund election cycles?!?

Mr. Johnson, I am waiting for an intelligent answer on this, sir!!

Jun 11 08:32

Repudiate the Public Debt? How About Corporate Personhood and Monopoly Central Banking?

he French are right: tear up public debt – most of it is illegitimate anyway ... As history has shown, France is capable of the best and the worst, and often in short periods of time. On the day following Marine Le Pen's Front National victory in the European elections, however, France made a decisive contribution to the reinvention of a radical politics for the 21st century. On that day, the committee for a citizen's audit on the public debt issued a 30-page report on French public debt, its origins and evolution in the past decades. The report was written by a group of experts in public finances under the coordination of Michel Husson, one of France's finest critical economists. Its conclusion is straightforward: 60% of French public debt is illegitimate. – UK Guardian

Jun 11 08:10

19 Reasons Why You Can Laugh When Anyone Tells You That The Economy Is In Good Shape

Have you heard the one about the “economic recovery” in the United States? It’s quite funny, but it is not actually true. Every day, the establishment media points to the fact that global stock markets have soared to unprecedented heights as evidence that the economy is improving. But just because a bunch of wealthy people have gotten temporarily even richer on paper does not mean that the real economy is in good shape. In fact, as you will see below, things just continue to get even tougher for the poor and the middle class. Retail stores are closing at the fastest pace since the fall of Lehman Brothers, the rate of homeownership in this country is the lowest that it has been in 19 years, one out of every five families do not have a single member that is employed, and one out of every five children is living in poverty. We are working harder, earning less and going into more debt.

Webmaster's Commentary: 

These numbers are absolutely staggering, and bode ill for any kind of true economic recovery here in the US at any time soon.

Jun 11 07:42

Temporarily embarrassed millionaire Americans go back into credit card debt: Credit card debt begins to tick up as tapped out Americans re-leverage once again. Average household has $7,000 in credit card debt.

It is hard to believe that a large part of the nation has already forgotten the Great Recession. A crisis created by too much debt and the financialization of global markets is now once again unleashing high levels of debt to keep consumption going. This makes sense given that 1 out of 4 working Americans is actually in a job that pays less than $10 per hour. Instead of confronting the storm clouds of low wage economics, banks after getting their bailout fill are now handing out credit cards to induce Americans to spend money that they really don’t have. There is a very reasonable place for debt in any economy. It becomes dangerous when we constantly rely on debt versus real economic growth to move forward. Credit card debt contracted severely during the Great Recession. Most of this came at the hands of bankruptcies. With the memories of the Great Recession fading away in this fast paced instant media culture, we are seeing credit card borrowing picking up.

Jun 11 06:28

Walmart, Costco tied to slave labor in shrimp industry

The world’s largest shrimp farmer gets fishmeal used to feed its crop from supplier that use slave labor, according to a new investigative report. It then sells its farm-raised shrimp to food retail giants, including Walmart and Costco in the US.

Jun 10 14:17

Can banks create money out of thin air?

• This article explains how the majority of money in the modern economy is created by commercial banks making loans.

• Money creation in practice differs from some popular conceptions — banks do not act simply as intermediaries, lending out deposits that savers place with them, and nor do they “multiply up” central bank money to create new loans and deposits.

• The amount of money created in the economy ultimately depends on the monetary policy of the central bank. In normal times, this is carried out by setting interest rates. The central bank can also affect the amount of money directly through purchasing assets or “quantitative easing”.

The authors of the Bank of England report remind us that, these days, most settlement of financial transactions involves changing the amounts in personal deposit accounts held in banks. Against popular belief, and textbook economics, these deposits definitely do not fund bank lending.

Jun 10 12:45

One Year Later, NSA Scandal Has Cost Tech Companies Billions

Executives from leading companies such as Netflix, Google and Facebook met with senior White House officials in December, and in March. The Obama administration made it look like these meetings had helped to resolve issues on intelligence reforms. However, venture capitalist Marc Andreessen argued that the meetings were “mostly for show and have produced not even a little progress on privacy and surveillance issues.”

Jun 10 10:22

Gold At A Turning Point After ECB’s Unprecedented Action - CMC Markets

The European Central Bank’s unprecedented monetary policy announcement last week could be the turning point the gold market needs to generate long-term momentum, said a market analyst.

Colin Cieszynski, market analyst at CMC Markets, said in a research report released Tuesday that in the last few months he has noticed gold’s primary influence has shifted to the euro from the U.S. dollar.

He said one major factor behind gold’s lackluster performance is European banks’ repayment of the central bank’s loans from its first Long-Term Refinancing Operation during the last 18 months. This repayment process allowed the ECB to embark on “stealth tapering,” as it reduced its balance sheet by about a trillion euros, he said.

During the same time period, the Federal Reserve embarked on its third round of quantitative easing program.

Jun 10 10:08

No Drinking Water In Venezuela Until Bankers Get Paid Back

2013 was a good year for Goldman Sachs investments in Emerging Markets, most notably Venezuelan bonds (as they bet on socialism and won). A year later and Goldman's EM debt portfolio is still loaded with Venezuelan bonds... and the arrears are mounting. As Bloomberg reports, at a time when Venezuela’s record $25 billion in arrears to importers has its citizens waiting hours in line to buy drinking water and crossing borders in search of medicine, President Nicolas Maduro is using the nation’s dwindling supply of dollars to enrich bondholders.

By putting off the local companies responsible for supplying everything from diapers to cancer medications, Maduro can preserve access to debt markets and protect oil shipments that would be vulnerable to bondholder seizure, said Alejandro Arreaza, an analyst at Barclays. Even if that means fanning the world’s fastest inflation and inflaming protests over shortages that have left at least 42 people dead since February.

Webmaster's Commentary: 

Absoflippinglutely unbelievable!!

Jun 10 09:14

3 Major U.S. Airlines Fight to Cancel Cheaper International Travel

A measure aimed at grounding an upstart airline offering affordable fares for transcontinental travel appears headed for a vote in the House of Representatives.

The transportation appropriations bill is seen as a vehicle for an amendment targeting Norwegian Air International’s new service at U.S. airports, airline officials were told by consultants.

Norwegian Air International, headquartered in Ireland, says it is offering economical fares and improved customer service for international travelers and providing new job opportunities in the United States. But union leaders, who have leaned on the U.S. Department of Transportation to deny Norwegian’s application for low-fare international services, claim the competing airline has engaged in unfair labor practices.

Jun 10 07:08

Wall Street Journal editor: Don’t hike minimum wage because workers ‘learn’ from poverty

Wall Street Journal Editor Paul Gigot argued on Sunday that the minimum wage should be kept low because it would teach workers that they did not want to work low-wage jobs.

Webmaster's Commentary: 

Dear Moron

We The People don't need to be taught that we do not want low-wage jobs. We already are smart enough to know we want the higher-paying jobs ... which have been shipped to other countries by your fellow Wall Street money-junkies!

The only thing poverty teaches is how to build guillotines!

Jun 10 07:06

The Biggest Policy Mistake of the Great Recession

The popular conception of the Great Recession explains that it stemmed from a financial shock. Housing prices stopped going up, and then Lehman Brothers fell, triggering paralysis in the credit markets. This spilled onto Main Street, and the effects still linger in terms of elevated unemployment and sluggish economic growth.

Jun 09 12:17

World Leaders In Discussion For New Reserve Currency

China and Russia have made it quite clear in recent years that they are disgruntled with the way the United States has been abusing their “world reserve currency” privilege.

This privilege has enabled the U.S. to expand its military presence like no other country previously seen in history.

It has enabled the U.S. to print seemingly unlimited amounts of fiat in its futile attempt to keep bubble after bubble inflated, while big banks profit and the man on the street suffers.

Jun 09 10:44

Grand Geopolitical Project: Russia’s Gazprom signs Agreement to Abandon the Dollar

“It’s only the tip of the iceberg. A grand geopolitical project is beginning to materialize…”

On June 6 2014, the official Russian news agency Itar Tass announced what many were expecting since at least the beginning of the Ukrainian crisis: Russian main energy company, Gazprom Neft has finally “signed agreements with its consumers” to switch from Dollars to Euros (as transition to the ruble) “for payments under contracts”.

The announcement that the agreement has been actually signed and not just discussed was made by Gazprom’s Chief Executive Officer, Alexander Dyukov.

Jun 09 09:21

Public Exposed To “The Gold Conspiracy” In Ways Never Before Seen

Gold manipulation, the once laughed at topic is going mainstream.

We have discussed this in depth over the past few weeks, as the tipping point appears to have been reached.

Webmaster's Commentary: 

See The History Channel's "The Gold Conspiracy."

Jun 09 09:10

Secret European Cash Limits in Place

Some of you might remember the recent scandal where #HSBC tried to impose cash withdraw limits on their accounts:

Well it turns out that was just a trial balloon, to see how the public might react to withdraw limits being public knowledge. Limits that are already in place!

Let me tell you what my sources are telling me.

Webmaster's Commentary: 

When the ECB announced their negative interest rates, I predicted there would have to be some form of capital controls to prevent people from emptying their accounts.

Jun 09 09:09

‘Anti-homeless spikes’ outside London flats spark outrage on Twitter

Metal spikes many believe have been installed to deter homeless people from sleeping in an alcove outside a block of flats in London have sparked outrage on Twitter, after pictures of the building went viral.

Andrew Horton, 33, of Woking, Surrey, took a picture of the studs outside of the block of privately-owned flats on Southwark Bridge Road in the borough of Southwark as he walked to work on Wednesday.

Mr Horton told The Telegraph he believed the studs have been put in place to prevent homeless people from sleeping there.

“I can’t say for certain but it certainly looked like they were placed there to deter homeless people. It’s dreadful.”

Jun 09 08:43

Houston, We Have A Problem – or – Market Extremes Are Back

The S&P 500 Index hit another all-time high. All hail QE! This is great news for the 1% but did it help the lower 90% of the population?

Jun 09 08:43

Russian companies ‘de-dollarize’ and switch to yuan, other Asian currencies

Russia will start settling more contracts in Asian currencies, especially the yuan, in order to lessen its dependence on the dollar market, and because of Western-led sanctions that could freeze funds at any moment.

Webmaster's Commentary: 

Good reason for Americans to start dumping the dollar and conducting commerce with something else!

Jun 09 08:38

I Owe My Soul

Let's put the song aside for the moment and have a look at a concept that has been bandied about by the European Central Bank (ECB) for a while now. Since the collapse of the central banks would doom the world (their claim, not mine), it is essential that the banks be saved no matter what else must be sacrificed. Efforts to "save" the situation have been implemented through quantitative easing (QE) and the setting and continuation of low interest rates.

Unfortunately, in spite of record profits by banks and staggering bonuses handed out to senior bank executives, somehow the QE and low interest rates have not created the prosperity desired. The economy is still in the tank. What to do?

A solution being considered is to create "negative interest rates." Sounds logical, doesn't it? If low interest rates have kept the economy from crashing but haven't fixed it, surely, negative interest rates can only be more positive.

Jun 09 07:27

A parallel Chinese financial order

I have commented before about China's dissatisfaction with the global monetary system. China is not an obstructive power. It is, in its way, a committed member of the current economic order. It has strong support at the UN. But it is hedging too, working assiduously to create alternative financial systems to the established ones.

Jun 08 09:13

BOYCOTTING THE BOYCOTTERS

Blacklisted by the `Jewish Community’ over Israel, the Shondes Take their Stand

Jun 08 05:58

New head of European conservatives dismisses Cameron's EU demands

The new head of the biggest group of conservatives in the European Parliament dismissed on Saturday demands by British Prime Minister David Cameron to put the brakes on European integration.

Manfred Weber, the new chairman of the European People's Party (EPP), also told a German paper that the group still backed its candidate Jean-Claude Juncker to be the next Commission president despite opposition from Britain.

Jun 08 05:57

Martin Rowson on D-day and the European Union - cartoon

Jun 07 16:05

90% Of Gazprom Clients Have "De-Dollarized", Will Transact In Euro & Renminbi

Following Obama and Putin's "caught on tape" meeting Vine'd by the French President, we can't help but wonder if the Russian leaders comments were something akin to "this is not over yet." With "De-Dollarization" efforts already broadly under discussion, ITAR-TASS reports that Gazprom had signed additional agreements for clients to switch from dollars to euros and renminbi, "nine of ten consumer had agreed to switch."

Jun 07 07:39

IMF wants Barbados to take urgent action

THE INTERNATIONAL MONETARY Fund (IMF) is sounding a note of urgency over Barbados’ economy and calling for fiscal consolidation post-haste.

Though admitting that Government had implemented most of its budgetary measures, a team from the Washington-based IMF left Barbados yesterday stressing the need for follow-up to ensure that those measures produce material results in the near term.

Webmaster's Commentary: 

This follows a three-notch downgrade by Moody's. Barbados, while exporting some products such as rum, is heavily dependent on tourism, and tourism is down across the board both from the economy and from TSA abuses.

Jun 07 06:43

US military intrusions 'ineffective, shameful': Analyst

Americans are “fed up” with the US military’s “foreign intrusions” in other countries, a military analyst in New York says, calling Washington’s aggressive foreign policy “ineffective and shameful.”

“The American people are expecting us to get out of these foreign intrusions, we can’t afford them, we’ve not been successful with them,” Michael Burns told Press TV on Wednesday.

“It’s an embarrassment, it’s a shame on the traditional American policy,” Burns said. “The American people are just chagrined and shamed over the ineffectiveness of our intrusions into other people’s business.

Jun 07 06:40

New neocon bill: designed to protect Ukraine or to promote business interests of US fracking firms?

A bill designed to counter non-existent “Russian aggression” envisages allocation of hundreds of millions of dollars on military needs. But the military are not its only beneficiary: US fracking firms, facing enormous criticism in the West, are to start expansion to the Eastern Europe under the guise of making post-Soviet states independent of Russian gas supplies. Some critics have already labeled the bill, sponsored by neocon senators, a “personal enrichment law”.

Jun 06 07:32

The Good And The Not- So-Good News About US Jobs In One Chart

Jun 06 07:25

Half The Country Makes Less Than $27,520 A Year And 15 Other Signs The Middle Class Is Dying

If you make more than $27,520 a year at your job, you are doing better than half the country is. But you don’t have to take my word for it, you can check out the latest wage statistics from the Social Security administration right here. But of course $27,520 a year will not allow you to live “the American Dream” in this day and age. After taxes, that breaks down to a good bit less than $2,000 a month. You can’t realistically pay a mortgage, make a car payment, afford health insurance and provide food, clothing and everything else your family needs for that much money.

Webmaster's Commentary: 

Since the beginning of outsourcing of manufacturing in the 80s, there has been a steady decline in the standard of living for far too many Americans, and a staggering number of American children live in poverty right now.

Do not think for a moment that this is anything but deliberate. Traditionally, protest movements have come from the middle class; eliminate the middle class, and you have very little in terms of protests against the government, coupled with a dependence on it, so that people do not dare question what the government is doing at any given moment.

Jun 06 06:55

Stockman - The Military Industrial Complex & Total Collapse

Eric King: "If the fighting continues in Ukraine, is it just going to continue to be a stalemate over there?"

Stockman: "It could well devolve into a full-fledged civil war, and that would be really unfortunate for the people. ... That is the result of the constitutional and political crisis that was provoked last November and December, not by Putin and the Russians, but by the (U.S.) State Department and the CIA and the so-called non-governmental organizations that are swarming all over eastern Europe trying to stir up trouble. It’s an indication that what I call the military-industrial complex, this warfare state with all the spy agencies and this massive war machine that we have, is a dangerous thing to keep in being. We don’t need it. It should be demobilized. It should be dramatically reduced so that the people who operate it aren’t tempted to start stirring up trouble."

Jun 06 06:53

Bilderberg Authoritarianism Destroys Humanity

Knowing the accuracy of historical reality is difficult, but accepting the truth in that chronicle is almost impossible for most people to accept. This reluctance to deal with the stark and calculated obliteration of societal freedom is the ultimate curse of the human condition. The denial of the authoritarian plan by elites like the Bilderberg cabal is the equivalent of Satan's greatest lie, convincing us he does not exist. Well, the days of casting the smear of conspiracy over any reporting on the secret and hidden conclave of global manipulators, is officially over.

Jun 06 06:23

US Corporations Dump Dollar for Chinese Renminbi to Buy Imports

The U.S. dollar is being increasingly dropped as the currency for settling international trade. But perhaps the latest trend provides the most startling evidence yet that the dollar is doomed as the world reserve currency.

The Financial Times reported today that U.S. corporations are using the Chinese renminbi to buy imports over three times more than they had the previous year:

Jun 05 13:33

More On China's "Missing Commodity" Scandal: Fallout Spreads As Banks Get Involved

While we have warned about the problem with near-infinitely rehypothecated physical/funding commodities/metals, be they gold or copper, many times in the past, and most recently here, it was only yesterday that China finally admitted it has a major problem involving not just the commodities participating in funding deals - in this case copper and aluminum - but specifically their infinite rehypothecation, which usually results in the actual underlying metal mysteriously "disappearing", as in it never was there to begin with.

Jun 05 10:27

Scary 1929 market chart gains traction

There are eerie parallels between the stock market’s recent behavior and how it behaved right before the 1929 crash.

Webmaster's Commentary: 

"Just a coincidence. Really. Everything is fine. Fine, fine, fine, fine, FINE! Wanna see me work out some more?" -- Official White Horse Souse

Jun 05 10:00

The Lives of America's Homeless

"We start every interview by asking people to say their name, their age, and where they slept last night."

That's how Margaret Miles describes a project she directs at St. Stephen's Human Services in Minneapolis that is documenting the stories of homeless people across the state of Minnesota. Begun in 2008, the project has collected more than 600 oral histories.

Webmaster's Commentary: 

More of Lloyd Blankfein doing "God's work."

Jun 05 08:54

American gas won't save us, say EU leaders

Jun 05 07:43

A parallel Chinese financial order

The Financial Times ran a front page piece last Monday claiming that China has ordered a ban on state-owned companies using Western management consulting companies. It is alleged by senior Chinese sources that 'foreigners use their consulting companies to find out everything they want about our state companies'. Beijing's solution will be its usual kind of import-substitution strategy, the 'setting up (of) a team of Chinese domestic consultants who are particularly focused on information systems in order to seize back this power from the foreign companies'.

I'm forever hearing gripes about consultants leaking secrets and transferring knowledge between clients. But this is a far more serious charge, and the insinuation is clear. When China is accused of pursuing commerce backed by shadowy state espionage, it will throw the book right back.

Jun 05 07:26

ECB cuts deposit rate below zero in historic move

The European Central Bank lowered its deposit rate to -0.10% as the continent battles deflation after many failed monetary policy attempts.

Webmaster's Commentary: 

When you have money in a bank savings account, and the interest paid on that account is lower than the rate of inflation, you are losing real value and purchasing power even if the balance seems to be growing. Many people are seduced by the growing numbers and keep their money in that savings account even though they are suffering real economic losses.

Now things have changed. The longer you keep your money in those European savings accounts, the smaller the balance will be. The EU will likely impose capital controls to prevent bank runs as savers close their accounts and convert the funds into physical silver and gold.

The reason there are so many "failed monetary policy attempts" is that nobody wants to acknowledge the deep dark secret of private central banking. Which is that when you allow a privately-owned central bank to issue all of the public currency as a loan at interest, the debt grows faster than the available money supply. More money is owed to that privately-owned central bank than actually exists. This is a deliberately designed system to trap a nation and its people in unpayable debt, to enslave them to the will of the bankers, and over time, through the process of defaults, transfer the hard assets of the nation and the people into the pockets of the bankers through "Austerity" and "privatization." And all the bankers needed to pull off this scam was paper, ink, and typing numbers into a computer keyboard! But no government dares admit to their people that the banking system they are forced to use is a deliberate tool of enslavement. So they attempt "policies" to make it look like they are trying to fix the problem, but without addressing the root cause.

Jun 05 07:15

Days Before Obama Announced CO2 Rule, Exxon Awarded Gulf of Mexico Oil Leases

On Friday May 30, just a few days before the U.S. Environmental Protection Agency announced details of its carbon rule proposal, the Obama Administration awarded offshore oil leases to ExxonMobil in an area of the Gulf of Mexico potentially containing over 172 million barrels of oil.

The U.S. Department of Interior‘s (DOI) Bureau of Ocean Energy Management (BOEM) proclaimed in a May 30 press release that the ExxonMobil offshore oil lease is part of “President Obama’s all-of-the-above energy strategy to continue to expand safe and responsible domestic energy production.”

Secretary of Interior Sally Jewell formerly worked as a petroleum engineer for Mobil, purchased as a wholly-owned subsidiary by Exxon in 1998.

Dubbed a “Private Empire” by investigative reporter Steve Coll, ExxonMobil will now have access to oil and gas in the Alaminos Canyon Area, located 170 miles east of Port Isabel, Texas. Port Isabel borders spring break and tourist hot spot South Padre Island.

Jun 05 07:00

BRICS nations hope to bankroll a changing world order

After more than six decades of dictating development policy in much of the emerging world, the Western-led International Monetary Fund and World Bank may soon have some competition.

The BRICS nations — Brazil, Russia, India, China and South Africa — are reportedly close to finalizing their long-awaited development bank and currency reserve, each valued at $100 billion, in what has been billed as a historic challenge by the world’s emerging economies to a global financial architecture that has been dominated by the U.S. and Western Europe since its post–World War II inception.

Jun 05 06:55

How taxpayers subsidized Walmart execs' pay

While many of Walmart's (WMT) workers rely on food stamps and other government aid to make ends meet, its top eight executives are living better, thanks in part to $298 million in tax-deductible "performance pay" during the past six years.

Jun 05 06:09

US employers plan to cut payrolls by 52,961 in May, up from April: Challenger

Job cuts climbed to the highest level in more than a year, as U.S.-based employers announced plans to reduce payrolls by 52,961 in May, according to a report from Challenger, Gray & Christmas.

Jun 05 05:25

This New Libor 'Scandal' Will Cause A Terrifying Financial Crisis

The vastly worse Libor “scandal” that I am referring to is the fact that the Libor has stayed at record low levels for the past half-decade, which is helping to fuel a massive economic bubble around the entire world that will end in a devastating financial crisis that will be even worse than the Global Financial Crisis. Instead of causing a few tens of billions of dollars worth of losses like the Libor rate-fixing scandal, the “Libor Bubble” will gut the global economy by trillions of dollars.

Webmaster's Commentary: 

Every single person involved in this swindle should be cooling their heels in a prison for a long time.

But given that the financial markets do not eat their own, I seriously doubt that anyone involved in this mess will actually do time.

Jun 05 05:13

Poverty Up 30.5% for Americans 18 to 64 Since LBJ Declared War on Poverty

The percentage of 18- to 64-year olds who live below the poverty level has increased 30.5% since 1966, two years after Lyndon Johnson declared the War on Poverty, according to the latest data from the U.S. Census Bureau.

“We have declared unconditional war on poverty. Our objective is total victory. I believe that 30 years from now Americans will look back upon these 1960s as the time of the great American Breakthrough toward the victory of prosperity over poverty,” said then-President Lyndon Johnson in 1964.

Webmaster's Commentary: 

Ever noticed that whenever this government declares "war" on some social ill, that the problem gets worse, and not better?!?

Jun 04 15:43

Renminbi use surges in home of US dollar

It is the monetary equivalent of what Chairman Mao called “bombarding the headquarters”. China’s renminbi is rapidly displacing the US dollar as a trading currency not only in Asia and Europe but now also in the US home market.

The value of renminbi payments between the US and the rest of the world rose by 327 per cent in April this year from the same month a year ago (see chart) as more US corporations switched to using the Chinese currency to pay for imports from China, according to data from SWIFT, the international currency settlement firm.

Webmaster's Commentary: 

That squishy sound you hear is the owners of the Federal Reserve collectively messing their pants!

Jun 04 13:19

Central banks and a global soft default: Current interest payments on public debt now exceed $415 billion per year. In 2000 $1 trillion in Fed debt was held by foreigners while today it is up to $6 trillion.

Global central banks are fully addicted to the opiate of debt. The financial system has created a rentier class that chases investment yield even when the economy isn’t necessarily growing. Think about that for a second. Why should someone expect a guaranteed return at any point in an economic cycle if the real economy is actually contracting? The U.S. for example while trying to play the role of responsible manager of debt is going full throttle when it comes to debt issuance. We have a spending, revenue, and financial system problem in the way incentives are structured.

Jun 04 12:59

Data Discrepancies in ObamaCare Signups Could Affect 2 Million People

More than 2 million people who got health insurance under President Barack Obama's law have data discrepancies that could jeopardize coverage for some, a government document shows.

About 1 in 4 people who signed up have discrepancies, creating a huge paperwork jam for the feds and exposing some consumers to repayment demands, or possibly even loss of coverage, if they got too generous a subsidy.

Jun 04 10:26

U.S. Hyperinflation Warning

Hyperinflation (i.e. the U.S. dollar going to zero) is not a “possibility” for the U.S. economy. Rather, it is an absolute certainty. Indeed, as was clearly demonstrated in a previous commentary, the U.S. dollar is already worthless, based upon three, distinct analyses of the dollar’s fundamentals.

This future destiny of the dollar is also graphically depicted, in one of the Federal Reserve’s own charts:

Jun 04 09:32

Elizabeth Warren and Thomas Piketty: "Wealth Does Not Trickle Down... It Trickles Up."

Both issues show clearly that 'we have a rigged system, where a handful are able to reap benefits at the cost of everyone else.'

Jun 04 09:04

1 in 5 Children Live in Poverty in U.S.

One in five children under age 18, or 21.3%, are living in poverty in the United States, according to the latest data from the U.S. Census Bureau.

Webmaster's Commentary: 

This is insane, stupid, and deliberate on the part of the US Federal government.

Because the more a people are dependent on government aid, the more they will not question a government when it is doing something extraordinarily morally wrong.

Sep 07 08:37

SULLIVAN VERSUS UNITED STATES TRANSCRIPT - PDF

This is a transcript from a court case, Sullivan Versus United States, in which Judge James C. Fox openly admits in the court record (page 23 of this PDF) that the 16th Amendment on which the personal income tax is based was never actually ratified.

He then goes on to admit that the government and courts will treat it as if it were ratified, simply because they have gotten away with it for so long!

Webmaster's Commentary: 

Today, we are hearing that the Infernal Revenue Service has been targeting political dissidents to a far greater degree than was previously exposed. Going beyond merely delaying tax-exempt status for Tea-Party, Occupy, and conservatives in general, donors to GOP candidates like Mitt Romney have been hit with disproportionate numbers of audits.

All America is now aware that the IRS is acting illegally. After all, such political targeting was an article of impeachment against Richard Nixon. So the time has come to take the discussion to the next level. Is the IRS, clearly acting illegally, itself legal? and the answer is "no", it is not. The Constitution forbids direct non-apportioned taxation of the people. An earlier version of the Income Tax was struck down by the United States Supreme Court on those grounds.

The Federal Reserve (itself a clearly unconstitutional usurpation of the money-creation authority vested in Congress by the Constitution) and the IRS claim that the passage of the 16th Amendment allows an income tax, but there are several problems with that claim. First and foremost, the 16th Amendment failed ratification! The necessary 3/4 of the states did not ratify the Amendment. Requests for proof that this Amendment was actually ratified are ignored. The IRS considers their enforcement actions the only legal reply they are required to make. And judges in tax courts (who are funded from tax revenues) inevitably refuse to examine the issue and simply declare from the bench that the Amendment was ratified, a power and authority not granted to judges under the Constitution.

There is one notable exception to this judicial legerdemain, and that is judge James C. Fox, who stated quite clearly in the court record for Sullivan Vs United States that the 16th Amendment, on examination, failed ratification. Sadly, however, that was not a tax case, and the judge mentioned the non-ratification of the 16th Amendment as justification for the enforcement of laws that may not have legally been passed, but were presumed valid through long use (i.e. we got away with it this long, so why should we change it now).

Yet another problem with the 16th Amendment is the United States Supreme Court, which ruled in Stanton vs Baltic Mining that the 16th Amendment, even if ratified, did not actually grant any new tax authority to the US Government. For one thing the original Constitutional prohibition against a direct non-apportioned tax is still in effect because it was not explicitly repealed by the hastily-contrived 16th Amendment.

So here we are, with the IRS clearly breaking the law, acting illegally, for all America to see, which is why this is a great time for activists to take the public discussion to the next level and ask if the IRS itself, and its master, the Federal Reserve, are actually legal under the Constitution.

Sep 06 12:19

Sullivan Vs United States - Judge ADMITS 16th Amendment failed ratification

Webmaster's Commentary: 

Today, we are hearing that the Infernal Revenue Service has been targeting political dissidents to a far greater degree than was previously exposed. Going beyond merely delaying tax-exempt status for Tea-Party, Occupy, and conservatives in general, donors to GOP candidates like Mitt Romney have been hit with disproportionate numbers of audits.

All America is now aware that the IRS is acting illegally. After all, such political targeting was an article of impeachment against Richard Nixon. So the time has come to take the discussion to the next level. Is the IRS, clearly acting illegally, itself legal? and the answer is "no", it is not. The Constitution forbids direct non-apportioned taxation of the people. An earlier version of the Income Tax was struck down by the United States Supreme Court on those grounds.

The Federal Reserve (itself a clearly unconstitutional usurpation of the money-creation authority vested in Congress by the Constitution) and the IRS claim that the passage of the 16th Amendment allows an income tax, but there are several problems with that claim. First and foremost, the 16th Amendment failed ratification! The necessary 3/4 of the states did not ratify the Amendment. Requests for proof that this Amendment was actually ratified are ignored. The IRS considers their enforcement actions the only legal reply they are required to make. And judges in tax courts (who are funded from tax revenues) inevitably refuse to examine the issue and simply declare from the bench that the Amendment was ratified, a power and authority not granted to judges under the Constitution.

There is one notable exception to this judicial legerdemain, and that is judge James C. Fox, who stated quite clearly in the court record for Sullivan Vs United States that the 16th Amendment, on examination, failed ratification. Sadly, however, that was not a tax case, and the judge mentioned the non-ratification of the 16th Amendment as justification for the enforcement of laws that may not have legally been passed, but were presumed valid through long use (i.e. we got away with it this long, so why should we change it now).

Yet another problem with the 16th Amendment is the United states Supreme Court, which ruled in Stanton vs Baltic Mining that the 16th Amendment, even if ratified, did not actually grant any new tax authority to the US Government. For one thing the original Constitutional prohibition against a direct non-apportioned tax is still in effect because it was not explicitly repealed by the hastily-contrived 16th Amendment.

So here we are, with the IRS clearly breaking the law, acting illegally, for all America to see, which is why this is a great time for activists to take the public discussion to the next level and ask if the IRS itself, and its master, the Federal Reserve, are actually legal under the Constitution.

PLEASE REPOST THIS EVERYWHERE!

Jul 06 08:52

Spitzer is back! The man who was politically assassinated for his sub prime accusations in 2006 now says the FED is a ponzi scheme. He's right. Again.

Apr 06 14:03

Founder plans to give up Oaksterdam after raid

In some of his most extensive comments since the raid, Lee acknowledged that he was worried he could face major federal drug charges. It’s a risk he has lived with for many years, first as an underground pot grower and then as the leader of a serious legalization effort, which drew vigorous opposition from the federal government.

“I never wanted to be the quote unquote leader of the legalization movement,” he said in a telephone interview. “I saw myself as just one small soldier in a big war. But I look at it as a battlefield promotion.”

Apr 05 11:16

NIALL FERGUSON: This Is The Study That Shows Why The US Economy Is Doomed

A Harvard Business School study that Niall Ferguson pointed us to today shows the U.S. has fallen severely behind in terms of international competitiveness.

The study, from January, found that for Harvard alums personally involved in a company relocation decision, 57% said the decision "involved the possibility of moving existing activities out of the U.S."

Apr 05 11:03

Oaksterdam University Raid 'Payback' For California's Marijuana Legalization Effort?

The man who bankrolled California's closest shot yet at fully legalizing marijuana, Prop. 19, saw his Oaksterdam University cannabis college in Oakland raided by federal authorities yesterday.
And pot advocates are fuming.

The Drug Policy Alliance suggests the raid by the U.S. Drug Enforcement Administration and Internal Revenue Service might have served one possible goal:
"Payback" for the 2010 legalization effort that failed but made a good try of it. The ballot effort was backed by Richard Lee, the millionaire owner of Oaksterdam.

Apr 05 10:56

Greek Pensioner Commits Suicide in Sindagma Sq-Suicide Note

The occupation government of Tsolagoglou (reference to the Occupation govt of the ex-Defence Minister Tsolagoglou who became Quisling Prime Minister of the 3rd Reich) has erased essentially any possibility of my survival which was based on a decent pension which for 35 years, I alone (without the intervention of the state) had paid.

I am at an age which doesn’t give me the individual capacity for a dynamic intervention (without of course precluding that if one Greek took up arms-Kalashnikovs, the second person would be me) I cant find another solution from a decent end before I end up looking in the rubbish bins for food.

Apr 05 09:34

Today's Ebay Special - The Country Of Greece For Sale

Currently going for the modest price of $1,550 with 6 more days left in the auction, today's hottest Ebay special is the sale of the country of Greece.

Apr 05 09:31

Americans brace for next foreclosure wave

Half a decade into the deepest U.S. housing crisis since the 1930s, many Americans are hoping the crisis is finally nearing its end. House sales are picking up across most of the country, the plunge in prices is slowing and attempts by lenders to claim back properties from struggling borrowers dropped by more than a third in 2011, hitting a four-year low.

Webmaster's Commentary: 

Apr 05 09:13

The phony economic deception machine – JP Morgan Chase CEO earns $23 million in 2011 while 2.7 million foreclosures are filed in the US. GDP at record levels but employment figures down by 5.3 million from their peak.

The US economic and political system is doing an excellent job sealing off opportunities for millions that aspire to be part of the middle class. Many are starting to realize that the system is rigged in favor of large financial institutions and those with political connections. The idea of raw success based on talent can be thrown out the window with the corporate welfare generosity leveled at the too big to fail financial institutions.

Apr 05 08:38

The Second Foreclosure Tsunami Is Coming, And Is About To Kill Any Hopes Of A "Housing Bottom"

In what appears to be surprising news for some, Reuters has an article titled "Americans brace for next foreclosure wave" whose key premise is that "a painful part two of the [housing] slump looks set to unfold: Many more U.S. homeowners face the prospect of losing their homes this year as banks pick up the pace of foreclosures."

Webmaster's Commentary: 

Apr 05 08:36

U.S. Standard of Living Has Fallen More Than 50%: Opinion

Using the year 2000 as the numerical base from which to "zero" all of the numbers, real wages peaked in 1970 at around $20/hour. Today the average worker makes $8.50/hour -- more than 57% less than in 1970. And since the average wage directly determines the standard of living of our society, we can see that the average standard of living in the U.S. has plummeted by over 57% over a span of 40 years.

Apr 05 08:29

Elite Greed Causing 'Austerity Suicides'

Brit Dee, Contributor
Activist Post

Yesterday saw the obscene consequences of the corrupt financial and political elite's insatiable greed, as a 77-year-old Greek man publicly committed suicide outside Parliament in Athens. The man, named locally as Dimitris Christoulas, reportedly pulled out a handgun and shot himself in the head during rush hour, having shouted "I'm leaving because I don't want to pass on my debts."...

Apr 05 08:26

The Unsustainability of Incarceration

The money that states spend on prisons has risen at six times the rate of spending on higher education. Specifically in California, the state spends $8,667 per student per year. It spends about $50,000 per inmate per year.

Apr 05 08:05

NH Best Selling Author Maintains Ron Paul Only Presidential Candidate Telling America the Truth about America’s Economic Woes

Best-selling author Barry James Dyke, author of The Pirates of Manhattan and recently released sequel, The Pirates of Manhattan II: Highway to Serfdom maintains Ron Paul is the only candidate consistently telling Americans the truth about its finances and the role that the Federal Reserve has in America’s decline.

Apr 05 08:01

Food inflation seen back on the table as prices rise

The United Nations Food and Agriculture Organisation (FAO) will update its monthly Food Price Index on Thursday and the organisation says prices could rise more in the short and medium term as grain supply tightens and energy prices stay high.

"You can see prices in the near term rising even further," FAO's senior economist and grain analyst Abdolreza Abbassian told Reuters ahead of the index update.

High crude oil prices have fuelled the upward pressure on inflation since the start of this year. Consumer prices in the 17 nations sharing the euro were up 2.6 percent in March from a year ago, despite stumbling economy.

Webmaster's Commentary: 

I don't know how some families are making it, in terms of grocery prices.

The last time Mike and I left our local grocery store here on Oahu, I teased him, asking where the heck the caviar was we MUST have somehow, inadvertently, purchased to run up the bill so intensely.

However, in looking at what we brought home, (produce, some poultry, and some cream for coffee), it was obvious that everything has just skyrocketed in terms of food prices. The discounts from the "big box" stores help, but only a little.

If you can, even if you are doing it with small pots on a terrace, please try to get more self-sufficient with growing and preserving a little of your own food.

If there is any interruption in the flow of oil from any of the potentially nasty geopolitical confrontations which could take place in the near-term, that is going to jack up the prices on everything, big-time.

Apr 05 07:52

The Second Foreclosure Tsunami Is Coming, And Is About To Kill Any Hopes Of A “Housing Bottom”

what appears to be surprising news for some, Reuters has an article titled “Americans brace for next foreclosure wave” whose key premise is that “a painful part two of the [housing] slump looks set to unfold: Many more U.S. homeowners face the prospect of losing their homes this year as banks pick up the pace of foreclosures.”

Thank the robosettlement, where in exchange for a few wrist slaps, contract law was thoroughly trampled by America’s attorneys general, but far more importantly to the country’s crony capitalist system, the foreclosure pipeline was once again unclogged, and whether one does or does not have a legal title on a given house, the banks are now fully in their right to foreclose on it.

Webmaster's Commentary: 

No one in their right mind can look at numbers like this, and talk about "an American financial recovery in 2012" with a straight face.

Apr 05 07:49

Keeping the Slaves on the Plantation: Senate Says No Passport if You Owe Taxes

Eric Blair
Activist Post

CBS is reporting that Senate Bill 1813 that would "suspend passport rights for delinquent taxpayers" passed the Senate 74-22 on March 14th.

A bill authored by a Southland lawmaker that could potentially allow the federal government to prevent any Americans who owe back taxes from traveling outside the U.S. is one step closer to becoming law.

...The 'Moving Ahead for Progress in the 21st Century Act' or 'MAP-21' includes a provision that would allow for the 'revocation or denial' of a passport for anyone with 'certain unpaid taxes' or 'tax delinquencies'.

Apr 05 07:41

America: Freedom to Fascism - Director's Authorized Version

Apr 05 07:24

Tax Day Protests and Events 2012

PRESS RELEASE

For Immediate Release: April 5, 2012

Contact: Ruth Benn, NWTRCC Coordinator
800-269-7464 (718-768-3420) or nwtrcc@nwtrcc.org

“Tax Day” Antiwar Protests
Individuals Publicly Refuse to Pay Taxes for War

On April 19, 2012, two days after the April 17 tax deadline, peace activist and Gold Star Mother Cindy Sheehan will appear in court in Sacramento, California. The Justice Department, on behalf of the IRS, is seeking to discover why she hasn’t paid taxes in recent years. Sheehan has responded that “If the feds can give me my son back, I’ll pay my taxes.” She became a relentless peace activist following her son’s 2004 combat death in Iraq.

Apr 05 07:18

IMF CRIMES Result in 77-Year Old Gov’t Pensioner Commiting Suicide In Town Square – In Response Greeks Riot

The 77-year old Greek man who ended his life in the Town Square on Wednesday left the blame squarely on the shoulders of the Bankers, which includes Goldman Sachs (Mario Monti, their agent atop the Greek government), the Rothschilds and their criminal organization the IMF. The man left a heart-wrenching suicide note which read in part:

“The government has annihilated any hope for my survival and I could not get any justice… I cannot find any other form of struggle except a dignified end before I have to start scrounging for food from the rubbish.”

Apr 05 04:51

Beggared by Banks: 'Greeks forced to kill themselves'


The recent suicide of a cash-strapped Greek pensioner is a sign of the dire situation Greece finds itself in. It can be solved only by extreme measures such as default and giving up the euro, believes financial advisor Patrick Young.

Apr 04 18:10

Americans brace for second foreclosure round!

A painful part two of the slump looks set to unfold: Many more U.S. homeowners face the prospect of losing their homes this year as banks pick up the pace of foreclosures.

"We are right back where we were two years ago. I would put money on 2012 being a bigger year for foreclosures than 2010," said Mark Seifert, executive director of Empowering & Strengthening Ohio's People (ESOP), a counseling group with 10 offices in Ohio.

Webmaster's Commentary: 

No one in their right mind can talk about a "strengthening recovery", looking at numbers like this.

Apr 04 10:51

IRS Insider Joe Banister Exposes Federal Reserve Coup and IRS Fraud

Webmaster's Commentary: 

Consider this; we know from the Mortgage Backed Securities Fraud that the US Government refuses to investigate or even acknowledge the largest money-junkie frauds.

What if they have been doing that all along?

Apr 04 10:22

As unemployment soars, child labour returns to Europe

Under the headline “Child Labour Re-emerges in Naples”, the article describes how thousands of children have been forced to quit school and find jobs in order to help feed their families in the southern Italian metropolis. The article cites a local government report from 2011 which noted that 54,000 children left the education system in the Campania region between 2005 and 2009. Some 38 percent of these children were less than 13 years old.

Webmaster's Commentary: 

Watch for this practice to become common again in the US, in the not too distant future.

Apr 04 10:18

Raw Video: Police Pepper Spray California Students

Police pepper spray as many as 30 Santa Monica College students protesting at a trustees meeting over a plan to offer high-priced courses.

Apr 04 08:53

450 RESIGNATIONS FROM WORLD BANKS, INVESTMENT HOUSES, MONEY FUNDS

Apr 04 07:45

Six universities at risk of closure after bond swap

An emergency meeting of university rectors on Tuesday heard that only 33m euros remained of 120m euros that 17 Greek universities had deposited with the Bank of Greece for their operating expenses, while six university accounts were now completely empty meaning they would soon be unable to stay open.

Apr 04 07:36

Not Good Enough

Apr 04 07:36

America's 'smallest town' Buford goes up for sale

Buford once had 2,000 inhabitants, but then the railroad dropped it as a stopping point, and locals gradually moved out

For a sum which would barely buy a one-room apartment in most places – and a lot less in big cities – the purchaser of Buford, Wyoming would get over 10 acres of land including a three-bedroom home, a garage, and a mobile phone tower.

The Buford Trading Post shop benefits from regular traffic along the I-80 interstate, with Wyoming capital Cheyenne just 30 miles (50 kilometres) to the east, and San Francisco 1,150 miles (1,800 kilometres) to the west.

Apr 04 07:35

China overtakes US as world's largest grocery market

By 2015, the Chinese market is forecast to be worth £918bn compared to a US value of £675bn, says IGD.

The Chinese grocery sector was worth £607bn at the end of 2011, while the US market - which includes Wal-Mart, the world's largest retailer - dropped into second place at £572bn.

"This rapid expansion has been fuelled by three main factors: rapid economic growth, population and rising food inflation," said IGD chief executive Joanne Denney-Finch.

By 2015, the Chinese market is forecast to be worth £918bn compared to a US value of £675bn, according to the report by the British grocery industry group.

Apr 04 07:19

Chinese Insider Offers Rare Glimpse of U.S.-China Frictions

The senior leadership of the Chinese government increasingly views the competition between the United States and China as a zero-sum game, with China the likely long-range winner if the American economy and domestic political system continue to stumble, according to an influential Chinese policy analyst.

Webmaster's Commentary: 

I agree.

Mar 16 12:27

Ocean Radiation Plume Hits Hawaii From Fukushima Nuclear Meltdown

The latest marine impact simulation shows the radioactive plume of ocean radiation from the Fukushima nuclear meltdown has now hit Hawaii

Mar 16 12:25

What Closing The Straits Of Hormuz Will Mean In 3 Simple Charts

These 3 simple charts fully explain the shock waves that will be sent through the global economy if Iran decides to shut down in response to western military threats.

Mar 14 09:03

The US Dollar is No Longer King!!

Mar 14 08:50

Keiser Report: White Man's Debt Burden

In this episode, Max Keiser and co-host Stacy Herbert discuss how a video not featuring Justin Bieber went viral and how Max Keiser started a gold stampede. They also talk about "the white man's debt burden" of Uganda's resources and Afghanistan's "crony capitalism". In the second half of the show, Max talks to David Morgan about silver circles, ounces and manipulation.

Mar 14 03:25

Romney Declines To Enroll In Medicare

Mitt Romney Declines To Enroll In Medicare So He Can Destroy It

Monday was Mitt Romney's 65th birthday. Happy birthday, Mittens. In honor of his 65th birthday he announced that he would not be enrolling in Social Security or Medicare. How noble. Except, it's not.

In deference to the conservative dogs nipping his heels, Romney has endorsed the Paul Ryan Medicare plan which would voucherize Medicare and leave senior citizens floundering on their own with private insurance companies. Of course, if you asked Mitt Romney about it, what you'd get is a bunch of lies. Really awful, cynical, blatant lies.

Jan 16 11:04

Lawsuit Exposes Foreclosure Kingpin David Stern

Investors admit foreclosure documents were FORGED, while Stern pocketed $60 million in the transaction - And now, they are suing.

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Jan 16 11:01

Bill Gross Exposes "The New Paranormal" For Markets

And it's not pretty for US investors...

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Jan 16 10:42

When Romney ran Bain Capital, his word was not his bond

Seemingly alone among private-equity firms, Romney’s Bain Capital was a master at bait-and-switching Wall Street bankers to get its hands on the companies that provided the raw material for its financial alchemy. Other private-equity firms I worked with extensively over the years — Forstmann Little, KKR, TPG and the Carlyle Group, among them — never dared attempt the audacious strategy that Bain partners employed with great alacrity and little shame. Call it the real Bain way.

Jan 16 10:39

Wall Street, Washington and Gingrich

Newt Gingrich and his consulting companies helped financial-services giant Credit Suisse Group gather exclusive Washington information and analysis, showing that the Republican presidential candidate benefited from a practice that has come under fire from lawmakers.

This "political intelligence" business—while legal—also risks muddying the campaign argument by the former House speaker that he has been a Washington outsider since he left Congress in 1999.

Jan 16 10:27

So, who, exactly, is funding Mitt Romney's 2012 Presidential Campaign?

Jan 16 09:45

An Open Letter to Family and Friends About Preparedness

I’m writing this letter because I care about you. Please take a few minutes to read it and think about what I’m saying...

Jan 16 09:44

Ron Paul Parade by South Florida Grassroots!

Jan 15 16:09

Iran rial slides, 'dollar' text messages appear blocked

TEHRAN, Jan 10 (Reuters) - Iran's currency has slid 20 percent against the dollar in the last week despite central bank intervention, and Iranians concerned about the economy said on Tuesday attempts to send text messages using the word "dollar" appeared to be blocked.

The central bank reportedly pumped $200 million dollars into the market last Wednesday after new and much tougher U.S. sanctions prompted nervous Iranians to change rials into hard currency, accelerating a rise in the price of dollars on the open market.

Jan 15 08:34

Hungarians hold anti-EU demonstration

Thousands of Hungarians have protested against the European Union, urging their country to pull out from the bloc while Budapest seeks EU's backing to evade insolvency.

Nov 16 10:32

Give Me Liberty Or Give Me Death - Patrick Henry, March 23, 1775.

Gentlemen may cry, Peace, Peace-- but there is no peace. The war is actually begun! The next gale that sweeps from the north will bring to our ears the clash of resounding arms! Our brethren are already in the field! Why stand we here idle? What is it that gentlemen wish? What would they have? Is life so dear, or peace so sweet, as to be purchased at the price of chains and slavery? Forbid it, Almighty God! I know not what course others may take; but as for me, give me liberty or give me death!

Webmaster's Commentary: 

As I type these words, the question on everyone's mind is whether this international revolution that started in Iceland and has already spread to Egypt and the Middle East will continue to spread across America. At the gas pumps and the supermarket checkout lines, the people speak of rebellion openly, if less furtively with each passing day.

There really is no way to avoid it. The money-addicts have created a world where firing the government is not only the best option; for most of us it is the only option. To not revolt is to condemn our children to lives of starvation and hopeless debt slavery to the Private Central Bankers, Goldman-Sachs, Morgan Stanley, etc. et. al. under a government with a demonstrated history of looting the people to feed the bankers, a government that views our lives as cheap and easily sacrificed for wars of conquest, or to be discarded without complaint to keep Israel happy when it attacks Americans in international waters.

Even now, the US Government prepares to solve its present debt crisis by embezzling the American taxpayer of their retirements by defaulting on the loans made to the US Government by Social Security. They will praise your silent consent as 'patriotism, but is such silence really patriotic? The men who created this nation did not think so!

"If ye love wealth greater than liberty, the tranquility of servitude greater than the animating contest for freedom, go home from us in peace. We seek not your counsel nor your arms. Crouch down and lick the hand that feeds you. May your chains set lightly upon you; and may posterity forget that ye were our countrymen."--Samuel Adams

The tragic reality is that the US Government has already declared war on the people of the United States. Bit by bit our rights are trampled on. Our wealth is confiscated for the benefit of a foreign power. Our homes are confiscated to pay the gambling debts of the bankers. Our emails are read, our phone calls listened to, our computers ransacked, all without warrant or due process. Torture and extrajudicial executions are the new reality of life under this tyranny. Our freedoms are confiscated to so that the government does not have to look with fear upon the people.

Even as our taxes increase, the maintenance of the nation is abandoned by a government intent on enriching a foreign power and fighting that foreign power's wars, along with saving the Wall Street money-junkies from the consequences of their swindles. Worse, to serve their foreign masters, the present government seeks to reduce the people of the united states to mere chattel from whom wealth may be extracted at leisure. Look around at our deteriorated condition and you see the growing effects of a war of conquest against the American people by the present government and financial institutions. The starvation and privations of the American people not only equals that of the nations in revolt; they are in actuality far worse! Americans have far greater reason to fire their government than the Icelanders, Tunisians, or Egyptians!

"It is in vain, sir, to extenuate the matter. Gentlemen may cry, Peace, Peace-- but there is no peace. The war is actually begun! The next gale that sweeps from the north will bring to our ears the clash of resounding arms! Our brethren are already in the field! Why stand we here idle? What is it that gentlemen wish? What would they have? Is life so dear, or peace so sweet, as to be purchased at the price of chains and slavery? Forbid it, Almighty God! I know not what course others may take; but as for me, give me liberty or give me death!" -- Patrick Henry

What Patrick Henry really meant in those final words went beyond mere drama. Patrick Henry declared that he would no longer be a slave, either to King George or to the Bank of England. He would be free, or he would be dead, but either way King George III would no longer own him as a slave, nor the Bank of England enjoy automatic title to the proceeds of his labor, so better for England to quit and save the lives of their soldiers then to waste lives seeking a slave who refused to be a slave.

Tragically, money-addicts never care about the lives of their own soldiers.

"Military men are dumb, stupid animals to be used as pawns for foreign policy." -- Henry Kissinger, quoted by Bob Woodward in The Final Days

So, King George III, in the throes of his money-addiction, and as owned by the Bank of England as the present government is by the Federal Reserve, tried to prove Patrick Henry wrong, which led to the humiliation at Yorktown.

Addicts to other peoples' money know no limits, no morality, no sense of fair play. They are hopelessly trapped by the allure of glittering gold. Like a Magpie, they simply must possess all that sparkles!

Bernie Madoff is the classic example. Co-founder of NASDAQ, with more money than any one man could spend in a lifetime, and he still felt compelled compelled to defraud his investors for another $65 billion. This is mental illness; the money-addiction that grips Wall Street and Washington DC, which symptoms manifest as (in one example) a psychotic compulsion to wear the entire productivity of a worker's life as a decoration on one's wrist. Not content with that, next year it will be the need to wear the the entire productivity of 100 workers' lives as a decoration on one's wrist that will drive the money addicts to greater crimes against the people.

Money addicts do not see their behavior as wrong or evil. Secure in their religious delusions that wealth is the sign of God's favor, they see themselves as heroes and heroines. Lloyd Blankfein, the head of Goldman Sachs, declared he was doing "God's work" at the time we now know Goldman Sachs was looting taxpayer money directly from the US Treasury to their own pockets. In their own minds the money addicts are the good guys; the stars of the world, the rightful inheritors of all of life's blessings. Sadly, history has shown that it is often easier to kill money-junkies than to cure their addiction, let alone get them to change their minds about themselves and to acknowledge their problem and its high social costs.

So, yes, a revolution in the streets of America is now an inevitability, albeit a revolution to be fought not with guns and bombs, but with keyboards and the truth. The money-addicts in Wall Street and DC have created a situation in which revolution is unavoidable, and already we see the hired things of the bankers cracking the heads of those people who dare to proclaim their refusal to pay debts not of their own making.

And as has been the case in Egypt, the US military, openly abused on their mortgages by J. P. Morgan, stand with the people. So do many police officers whose pension funds were destroyed by the mortgage-backed securities fraud.

The message to those who would rebuild their failed financial palaces on the backs of the people is thus a simple one. We shall not bail you out ever again. Yes, you may murder those who refuse to live on less so that you may have more, but it shall not change the final outcome. Living or dead, we are your slaves no longer.

That was Patrick Henry's message all those years ago, and it is still true today.

Oct 21 12:44

Occupy Wall Street Simplified

Oct 20 15:17

Sedan again as Germany imposes terms

There is an "unequivocal commitment" that haircuts will be confined to Greece alone. If you believe that, I have some ocean-front property to sell you in Alsace.

Fresh details soon.

Oct 20 15:14

EU Considers Temporary Bans on Sovereign Ratings

The European Commission is leaning toward proposing a ban on the issuing of sovereign credit ratings for countries in bailout talks, a top official said on Thursday.

Webmaster's Commentary: 

Basically, this is like asking for a credit card but refusing to turn over your credit scores, and the EU us not doing this because the numbers are good!

Aug 17 17:06

FLASHBACK - High-Frequency Trading: High-tech highway robbery

The Securities and Exchange Commission (SEC) knows that High-Frequency Trading (HFT) manipulates the market and bilks investors out of tens of billions of dollars every year. But SEC chairman Mary Schapiro refuses to step in and take action. Instead, she's concocted an elaborate "information gathering" scheme, that does nothing to address the main problem. Schapiro's plan--to track large blocks of trades by large institutional investors-- is an attempt to placate congress while the big Wall Street HFT traders to continue to rake in obscene profits. It achieves nothing, except provide the cover Schapiro needs to avoid doing her job.

Aug 17 16:44

FLASHBACK - FBI Probing SEC Attorneys for Insider Trading

Two enforcement lawyers at the Securities and Exchange Commission are being investigated by federal prosecutors and the FBI for possible insider-trading violations, according to a report from the SEC's inspector general.

The criminal investigation, which was disclosed to SEC Chairman Mary Schapiro in a March 3 memo, came about after SEC Inspector General H. David Kotz conducted his own investigation into the matter and referred it to criminal authorities after discovering suspicious trading activity.

Webmaster's Commentary: 

Is this one reason Madoff went unchecked for so long? Were SEC insiders sharing in the goodies?

Aug 17 16:44

FLASHBACK - Kucinich Who Told SEC to "Stand Down" on Stanford Probe

Chairman of the Domestic Policy Subcommittee, Congressman Dennis Kucinich (D-OH) today sent a letter to Ms. Mary Schapiro, Chair of the Securities and Exchange Commission (SEC) requesting documents that could reveal which government agency told the SEC to "stand down" rather than take enforcement action against the Stanford Group in October 2006 as has been reported by the New York Times.

Webmaster's Commentary: 

I want to know who told the SEC to stand down from investigating Madoff!!!

Apr 18 19:38

FLASHBACK - OFFSHORING AMERICAN JOBS - Corporations, Campaign Cash, & Bush Administration Policies.

Webmaster's Commentary: 

This document lays out the means by which the Bush administration changed the laws and tax codes to allow and even encourage corporations to send high-paying jobs to American companies even as Wall Street was already cranking up the machine to create and sell fraudulent mortgage=-backed securities.

The email responses to my expose' that the US is being looted to cover the buyback of fraudulent mortgage-backed securities usually view the firestorm of foreclosures as a knee=jerk reaction by the bankers to keep their balance sheets intact, but in looking at the timing of the Bush policies, and the fact that President George W. Bush was the first President to end his administration with fewer working Americans since Hoover, it seems clear that it was intended right from the start of the crisis to destroy Americans' ability to pay their mortgages, in order to allow the banks to seize those homes to preserve their capital structure.

Outright nationalization of private property would have triggered a rebellion, but by getting rid of the high paying jobs, the banks could grab the property to recapitalize themselves and make it look like it was the homeowners' fault!

This is the only possible explanation of why, in his first two years in Office, President Obama did nothing to stop the offshoring of American jobs, and indeed in the last two years, overall, offshoring has increased, and those jobs are never coming back!

This disaster is a deliberate creation of Wall Street and Washington DC. It's purpose is at best fulfillment of simple greed by the money addicts; at worse a plot to trap the whole world in a globalized version of a private central bank; a Federal Reserve on steroids!

Jan 08 10:58

Feast in Time of Plague: Wall Street Art of Sucking Money

Webmaster's Commentary: 

THE US GOVERNMENT TOOK YOUR JOBS SO THE BANKS COULD TAKE YOUR HOMES TO COVER THE COSTS OF THEIR MORTGAGE-BACKED SECURITY FRAUD

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