ECONOMY | WHAT REALLY HAPPENED


ECONOMY

Apr 13 08:49

“Bundy Ranch” type standoff brewing in Southern Oregon between miners and BLM

The area in question has produced in excess of 10 million ounces of gold since its conception, and geologists estimate that only 10% of the gold in the ground has been removed, which makes this area highly sought after by any standard. It is said that children find gold with their hands in the creeks to this day.

BLM has made several attempts to disband the operation through violations that claim improper paperwork filing, ruling changes over time, and other unsubstantiated claims. The miners of this district have spend tens of thousands of dollars to date to fighting the BLM in the courts and other avenues. The district has made requests to produce the official rulings that show they are in violation which have gone unanswered. They simple reason given by the BLM is that “they say so”.

Apr 13 08:39

BREAKING: OREGON GOLD MINING STAND OFF WITH BLM….NEXT BUNDY RANCH

BLM recently (3/18/15) issued two Stop Orders on a mine, citing authority under their 3809 regulations, despite the fact that this is one of the oldest active claims in the country. The location date of this mine is so old that one of the location notices (the legal title to the mine) was actually first recorded in the original Galice Mining District Recorder’s book in 1876 and then later transcribed into the Josephine County Clerk’s records once the county assumed recording duties. Under the 1955 Surface Resources Act, claims of this age have exclusive surface rights unless the Department of Interior utilized a mechanism outlined in that Act to severe those surface rights. Demands to BLM to produce evidence of their surface authority in accordance to the 1955 Act have thus far garnered only “because we say so” answers and numerous stonewalling tactics. The Stop Orders came after several months of back and forth maneuvering from both sides, and are clearly retaliatory in nature.

Webmaster's Commentary: 

I would remind everyone that the Enclave Clause in the Constitution forbids the US Government from owning/controlling any lands other than those underneath Federal Buildings, military bases, or Federal Infrastructure such as harbors and airports. But when Nixon ended gold convertibility and doubts began to surface that the US actually had all of the gold it was pledging as collateral on government borrowing, Nixon created the EPA to bypass the Enclave Clause and start grabbing public lands away from the people and use them as collateral for borrowing, now amounting to almost 1/4 of the entire nation. Despite references to China in the original story, I think the US Government is starting to commandeer private gold resources to replace the missing gold at the New York Federal Reserve.

Apr 13 08:14

U.S. Economy: These Three Data Points Show Growth Has Stopped

If you think the U.S. economy is improving, this story says that, truth be told, it’s the complete opposite for the economy, as recent data suggest there is no growth.

Apr 13 06:48

Martin Armstrong - Big Losses Coming in the Bond Market

Renowned financial analyst Martin Armstrong says you can forget about the U.S. dollar crashing in value. Armstrong contends, “No, that’s absurd. The euro is in terrible shape. The yen is in terrible shape, and honestly, you can’t park money in yuan or Russian rubles, yet. I mean, let’s be realistic here, but eventually--yes.”

Armstrong says the bond market is a different story as the Fed is going to be forced to raise rates. He contends just a few percentage points in rising rates are going to cause big losses and big changes. Armstrong predicts, “People will be losing huge money. We are looking at a few percentage points, and you are going to blow the national debts of all these countries way out of whack, and that’s what’s going to force political change.”

Apr 13 06:03

UK Housing Bubble Bursts: Sales Of Luxury Homes Crash By 80% As "Waves Of Wealthy People Are Leaving"

As the FT reports, "sales of homes worth more than £2m have dropped by 80 per cent in the past year."... "It is like the 1970s again, when waves of wealthy people left Britain and it was a disaster.”

Apr 13 06:01

Bundesbank Warns German Banks To Expect At Least 50% Losses On Austrian "Black Swan"

"German banks should expect to lose at least half of their investments in bonds of Austrian bad bank Heta Asset Resolution AG and make the appropriate provisions... I think this situation has to be taken seriously by the German banks... if I were to put a number on this I would say it should be a minimum of a 50 percent provision for potential losses."

Apr 13 05:59

Costco’s Biggest Business Risk: Concentration

Costco’s latest annual report showed that nearly 32% of it’s annual income is generated in California, with more than 70% of sales coming from the United States.

Apr 12 15:10

The Income Gap Can Harm Your Health

t’s not news that there’s a widening income gap between the richest and poorest people in the United States. But now this income inequality could be affecting people’s health.

Apr 12 12:27

Citi Economist Says Solutions To Current Economic Problems Is To Abolish Cash

The world's central banks have a problem. When economic conditions worsen, they react by reducing interest rates in order to stimulate the economy. But, as has happened across the world in recent years, there comes a point where those central banks run out of room to cut — they can bring interest rates to zero, but reducing them further below that is fraught with problems, the biggest of which is cash in the economy.

Apr 12 09:06

United States is facing global economic isolation

Just this week, former Treasury Secretary Larry Summers wrote an eye-opening and scathing op-ed outlining where America stands in the rapidly changing global economy.

Titled ‘Time U.S. leadership woke up to new economic era’, the piece looks at the many ways in which the United States is losing influence around the world to China and other emerging markets, while at the same time becoming increasingly isolated.

Apr 12 09:04

8 Forgotten Survival Skills Your Great Grandparents Used Everyday

Our modern society is highly dependent upon the “system.” Not only do we rely upon utility services to bring us electricity, water and natural gas, but also on an incredibly complex supply chain which provides us with everything from food to computers. Without that supply chain, most of us wouldn’t know what to do.

This situation is actually becoming worse, rather than better. When I compare my generation (I’m in my 50s) to that of my children, I see some striking differences. In my generation it was normal for a boy to grow up learning how to do a wide variety of trade skills from his father, and seemingly everyone knew how to do basic carpentry and mechanic work. But that’s no longer normal.

Apr 12 08:38

46 Ukrainian banks declare insolvency

Dozens of Ukrainian banks have reportedly gone bankrupt over the course of one year, with Kiev having to rely on external funding from the European Union (EU) amid insufficient insurance funds.

Managing Director of the Ukrainian Deposit Insurance Fund Konstantin Woruschilin said 46 banks in the country have declared insolvency, pointing to a number of contributing factors to the high number of bankruptcy, Russia-based Sputnik news agency reported on Saturday.

Woruschilin said the main factor is “the immoral behavior of bank managers,” with a number of cases involving bank employees stealing money for personal purposes.

Other factors were a drop in the country’s exports, a decline in consumption and high production costs, according to the director.

Apr 12 04:06

Markets, Economic Data, & The Ben Bernank

Apr 11 19:58

San Jose commits to end homelessness, lacks 80% of funding, will consider and respond to public banking & monetary reform initiatives

*hyperlinks live at source*

Newly-elected San Jose mayor, Sam Liccardo, committed to end homelessness in his 2015 inaugural address:

We face a crisis of homelessness. But we’re from San Jose. We can and we must leverage the Valley’s incomparable innovative spirit and resources to end homelessness in our lifetimes.

... Innovation, of course, doesn’t come easy. Innovation takes risk, and risk requires courage. Collectively, we must muster the courage:

to try what has been untried;
to open our city’s workings to public scrutiny;
... and, above all, to fail, to learn, and to endeavor again.
... I conclude by extending an invitation to each of you: Join me in re-imagining San Jose.

In his State of the city address, he provided data we confirmed with the mayor’s policy analyst, Dylan Simon:

San Jose has ~4,000 homeless residents.
839 of the San Jose homeless are housed; ~ 20%.

Apr 11 14:05

5 Things To Ponder: Don't Fight The Fed

Apr 11 12:59

Meet The Secretive Group That Runs The World

Over the centuries there have been many stories, some based on loose facts, others based on hearsay, conjecture, speculation and outright lies, about groups of people who "control the world." Some of these are partially accurate, others are wildly hyperbolic, but when it comes to the historic record, nothing comes closer to the stereotypical, secretive group determining the fate of over 7 billion people, than the Bank of International Settlements, which hides in such plain sight, that few have ever paid much attention.

Apr 11 10:45

Russian Miracle: Ruble becomes world's best performing currency in 2015

The Russian ruble continues its scorching ascent, improving 3% against the dollar and nearly 4% versus the euro, the best performance in over four months

Apr 11 10:22

Walgreens Plans To Close About 200 Stores In The US

Walgreens -the largest drugstore chain United States said Thursday it plans to close about 200 of its branches in the United States as the largest drugstore chain in the country expands its cost reduction plan of 1,000 million dollars, which announced last August.

http://whatisusa.info/walgreens-plans-to-close-about-200-stores-in-the...

Apr 11 09:31

How Robots & Algorithms Are Taking Over

In September 2013, about a year before Nicholas Carr published The Glass Cage: Automation and Us, his chastening meditation on the human future, a pair of Oxford researchers issued a report predicting that nearly half of all jobs in the United States could be lost to machines within the next twenty years. The researchers, Carl Benedikt Frey and Michael Osborne, looked at seven hundred kinds of work and found that of those occupations, among the most susceptible to automation were loan officers, receptionists, paralegals, store clerks, taxi drivers, and security guards. Even computer programmers, the people writing the algorithms that are taking on these tasks, will not be immune. By Frey and Osborne’s calculations, there is about a 50 percent chance that programming, too, will be outsourced to machines within the next two decades.

Apr 11 08:08

Rob Kirby: Debt Problem Destroying Society

Apr 11 07:11

Website calling for corporate tax increases deemed unfit by Alberta election laws

In a press release the Alberta Federation of Labour wrote that the campaign website gave Albertans the opportunity to "explore the various ways in which the provincial government has destroyed the revenue system, and given away billions of dollars to big corporations and to very wealthy individuals."

Or at least, that's what the website was intended to do, before it was shut down.

Since the election was officially announced on Tuesday, April 7, the website has been deemed to be in violation of the Election Finances and Contributions Disclosure Act (EFCDA), which regulates third-party spending during elections.

The Alberta Federation of Labour, which maintains the website, is not allowed to register as a third-party advertiser under these rules.

Apr 11 06:13

New study finds Canada second only to Greece in household debt growth

A new study has found that Canada has, relative to income, seen the second-highest increase in household debt among developed countries since the 2008 recession.

The study, found that Canada is second, only behind Greece on this measurement. The report looked at the growth of household debt between 2007 and 2014.

Apr 11 06:12

Anti-EU Forum Athens

Call for an International Forum (Athens 26-28/6/2015) and the establishment of a European Co-ordination of Left political parties, popular organisations and social movements fighting for exit from the European Union, the euro and NATO.

?n all European Union (EU) countries and especially those belonging to the Eurozone, vicious anti-popular policies are pursued relentlessly by the EU and its member governments: massive cuts in social spending and wages, increasing taxation for the working people and decreasing that for the rich, shameless subsidies to large corporations supposedly to create jobs that never materialize or are short-lived, privatizations and dismantling of public services and social security. The result is an exponential increase in poverty, social inequality, mass unemployment and lack of job security.

Apr 11 06:11

"Odious Debt" Has Finally Arrived: Greece To Write Off "Illegal" Debt

As a reminder, this is what Odious Debt is: In international law, odious debt is a legal theory which holds that the national debt incurred by a regime for purposes that do not serve the best interests of the nation, should not be enforceable. Such debts are thus considered by this doctrine to be personal debts of the regime that incurred them and not debts of the state. In some respects, the concept is analogous to the invalidity of contracts signed under coercion.

Apr 11 05:53

GE to sell bulk of finance unit, return up to $90 billion to investors

The company on Friday outlined a restructuring plan that includes buying back up to $50 billion of its shares, selling about $30 billion in real estate assets over the next two years and divesting more GE Capital operations. GE stock jumped 8.5 percent.

"The stock has been under-owned by institutional investors, and that's going to change now."

(*P.U.)

Apr 10 20:16

Want a 60% instant raise? Monetary reform and public banking deliver ~$3 TRILLION to Americans yearly

*hyperlinks live at source*

“That is to say, under the old way any time we wish to add to the national wealth we are compelled to add to the national debt. Now, that is what Henry Ford wants to prevent. He thinks it is stupid, and so do I, that for the loan of $30,000,000 of their own money the people of the United States should be compelled to pay $66,000,000 — that is what it amounts to, with interest. …But here is the point: If our nation can issue a dollar bond, it can issue a dollar bill. …It is absurd to say that our country can issue $30,000,000 in bonds and not $30,000,000 in currency. Both are promises to pay; but one promise fattens the usurer, and the other helps the people.” - Thomas Edison and Henry Ford, interview with NY Times, 1921

The punchline in my series teaching about what the US uses for money is every US household would receive annual benefits equal to a 60% raise:

Apr 10 17:15

50 Ways To Rig the Markets

Apr 10 16:01

How Wall Street captured Washington’s effort to rein in banks

In the aftermath of the 2008 financial crisis, Keith Higgins was certain: Banks weren’t to blame.

Higgins, a top attorney at prominent law firm Ropes & Gray LLP, was chairman of an American Bar Association committee on securities regulation. As such, he lobbied strenuously against a rule U.S. regulators were drafting that would require banks to disclose a lot more about asset-backed securities like those that had just torpedoed the economy.

Apr 10 15:33

Sears Taps Real Estate Equity

Sears, which owned or leased 1,725 Kmart and Sears stores combined as of January, expects to earn $2.5 billion from the sale.

Apr 10 13:31

Russia+Turkey=Free Trade Zone?

Sanctions imposed on Russia by the US and the EU have spurred its search for new directions for cooperation. In this context, Russian leadership sees Turkey as one of the partners with whom it is vital to consolidate economic relations. Moscow and Ankara are now discussing plans for creating a free trade zone. In order to find out how feasible the project is, RIAC editorial board asked N.Ulchenko, head of the Turkish Studies Department at RAS Institute of Oriental Studies, and L.Ratner, independent expert, to speak on the matter.

Apr 10 12:32

Why Japan will Default

While Portugal, Italy, Ireland, Greece and Spain, the PIGS, get all the negative press, Japan by far has the largest national debt at 240% above GDP. Why are the PIGS the deadbeats when they have an average debt-to-GDP ratio of about 140% by comparison?
Moreover, you would think the sky is falling on the U.S. where the media and congress get apoplectic over the national debt. It is true that America has the largest debt level in the world at $18.1 trillion, but that just barely pushed above its GDP level in 2014, to 106%.
Then, we must ask does the US congress and media fret over the national debt raising the specter of bankruptcy, but fail to mention that Japan's debt absolutely dwarfs theirs? In short, why is Japan being given special treatment and the PIGS the bums rush? The answer is simple, geopolitics.

Apr 10 12:12

Monsanto Profits Fall Another 15% In April

Apr 10 11:43

Iran's Richest Man Executed for White Collar Crime

Apr 10 10:57

19 Signs That American Families Are Being Economically Destroyed

The systematic destruction of the American way of life is happening all around us

Apr 10 10:40

Cashin Says - Fed Has Everyone Guessing

Apr 10 09:18

Teachers Warn Of "Victorian" Poverty As Socks In Short Supply And Stocks At All-Time Highs

Just yesterday we highlighted the sad, albeit not at all surprising fact that Abenomics is destroying Japan’s middle class as the BoJ’s relentless bid for all financial assets coupled with non-existent wage growth is increasing the disparity between the haves and the have-nots just as one would expect from a set of policies which center around the relentless printing of fiat currency in order to inflate the assets most likely to be held by the wealthiest citizens.

Apr 10 08:50

U.S. Agencies Block Technology Exports for Supercomputer in China

U.S. officials are blocking technology exports to facilities in China associated with the world’s fastest supercomputer, a blow to Intel Corp. and other hardware suppliers that adds to the list of tech tensions between the two countries.

Apr 10 08:27

Summit of the Americas: U.S. Agenda is to Push TPP to Split Latin American Integration

Miguel Tinker Salas say the new U.S. agenda is an old one, a free trade agreement; this time it's the Trans-Pacific Partnership, many call NAFTA on steroids -

Apr 10 08:20

When You Think The Financial World Can’t Get Any Crazier… This Happens

The world has truly gone mad.

We’ve become accustomed somewhat in the last several years to historical anomalies such as zero percent interest rates, Quantitative Easing, competitive currency devaluation, etc. by governments and central banks the world over.

It’s almost become the new norm.

But then there’s always something that happens that shocks us all over again.

And just like with any other addiction, the infusion of ridiculous and unsustainable policies has to be that much more potent to have any effect.

Two such developments have just taken place in the financial world.

Apr 10 08:19

'Silicon Valley is coming' warns JP Morgan CEO

In a recent letter to shareholders, JP Morgan CEO Jamie Dimon warned of growing competition for Wall Street in the form of tech start-ups.

“Silicon Valley is coming,” Dimon said in the letter, which touched on technologies as varied as mobile payments, bitcoin and peer-to-peer lending.

“There are hundreds of start-ups with a lot of brains and money working on various alternatives to traditional banking,” the CEO warned.

Webmaster's Commentary: 

"And they must be DESTROYED if we are to keep the human race as our debt-slaves!!!!"

Apr 10 08:18

French workers stage nationwide anti-austerity strike

On Thursday, workers from both public and private sectors walked off their jobs and took part in anti-government rallies all over the European country.

In the capital city of Paris, more than 100,000 protesters took to the streets to push the government of President Francois Hollande to reconsider its austerity policies.

Apr 10 08:12

US Agribusiness, GMOs and The Plundering Of The Planet

Small family/peasant farms produce most of the world’s food. They form the bedrock of global food production. Yet they are being squeezed onto less than a quarter of the planet’s farmland. The world is fast losing farms and farmers through the concentration of land into the hands of rich and powerful land speculators and agribusiness corporations.

Apr 10 07:53

GREEK DEBT REPUDIATION: Is Varoufakis about to make a distinction between borrowing obligations and odious debt?

Some of you may remember a Slogpost here three years ago in which strong (but also very odd) allegations were made about how Berlin actually encouraged the Papandreou regime in 2009 to exaggerate the size of Greece’s debt hole. To quote the piece:

‘Somewhere in the midst of these talks, Berlin requested a smaller meeting with the Greeks. At this meeting, three sources (two Greek and one German) allege, the small German delegation made an astonishing observation: the situation would “have to look more desperate” in order to justify a bailout to the other eurozone members. That is to say, only widespread fear of the entire eurozone being damaged would get the member States to pile in with bailout monies.’

Although several German (and French) motives were involved at the time, in the light of Syriza’s recent election to power in Greece, the rationale behind this strange request is becoming a little more clear.

Apr 10 07:49

PetroChina overtakes ExxonMobil to become world’s biggest energy company

The capitalization of China’s biggest oil producer PetroChina reached $352.8 billion during Thursday trading in Shanghai, surpassing ExxonMobil as the world’s most valuable energy company for the first time since 2010.

Apr 10 07:43

Pentagon kick-starts program to maintain superiority of US technology

“New in Better Buying Power 3.0 is a stronger emphasis on innovation, technical excellence, and the quality of our products,” Under Secretary of Defense for Acquisition, Technology and Logistics Frank Kendall wrote in a memo ordering the program's implementation. “We will continue our work to improve productivity and efficiency, but we must also turn out attention increasingly to our ability to innovate, achieve technical excellence, and field dominant military capabilities.”

Webmaster's Commentary: 

Translation: "We botched the F-22, F-35, Independence class, the Gerald Ford, SBX, etc. so badly we need you taxpayers to fork over another few trillion in the hope we can actually do things better."

Apr 10 07:37

New York Daily News Losing $30 Million a Year – [Corporate] Media is DYING

Webmaster's Commentary: 

I changed "Mainstream" to "Corporate" in the headline, because the corporate media is no longer the mainstream. Their audience numbers prove they are a minority influence on the minds of America (although they will claim otherwise).

Apr 10 05:40

Crude oil slides after volatile week

Crude oil slides after volatile week, but stays above $50-a-barrel mark

(*A volatile week of , one might imagine , derailing oil trains , sabotaging pipe lines , bombing oil refineries in middle east countries , price fixing , and the best they could do is keep it over $50 a barrel ?)

Apr 10 05:11

Deutsche Bank on brink of biggest ever Libor-rigging fine

German financial giant set to exceed $1.5bn paid by UBS over rigging of interest rate benchmark

Deutsche Bank is close to agreeing a record fine of more than $1.5bn (£1bn) over manipulating Libor, with the German financial giant also expected to plead guilty to fraud in the UK.

The bank will be one of the last to pay out in the Libor-rigging scandal, which emerged almost three years ago when Barclays blew the whistle on rigging rates.

The Financial Conduct Authority in London, as well as US regulators, are close to agreeing a fine with Deutsche Bank, which will be the biggest-ever bill for Libor.
***
Banks have also been fined by Dutch, Swiss, and EU regulators for manipulating benchmarks. For years, traders colluded to manipulate Libor - a benchmark that sets the interest rates for billions in financial products.

Apr 10 04:55

Scott Walker's trip to Great Britain cost taxpayers $138,200

— On the eve of another foreign trip, Gov. Scott Walker's administration disclosed Thursday that Wisconsin taxpayers paid $138,200 for his February trip to Great Britain — a trade mission laden with political overtones from his likely 2016 presidential bid.

The Wisconsin Economic Development Corp., which organized the six-day trip to England, laid out the costs in response to a request from the Milwaukee Journal Sentinel, doing so a day before another taxpayer-funded, weeklong European trip that Walker is taking as he seeks to boost his foreign policy credentials.

(*Things will be way different , once he gets in !)

Apr 09 15:46

Wall Street Fees Wipe Out $2.5 Billion in New York City Pension Gains

The Lenape tribe got a better deal on the sale of Manhattan island than New York City’s pension funds have been getting from Wall Street, according to a new analysis by the city comptroller’s office.

The analysis concluded that, over the past 10 years, the five pension funds have paid more than $2 billion in fees to money managers and have received virtually nothing in return, Comptroller Scott M. Stringer said in an interview on Wednesday.

“We asked a simple question: Are we getting value for the fees we’re paying to Wall Street?” Mr. Stringer said. “The answer, based on this 10-year analysis, is no.”

Until now, Mr. Stringer said, the pension funds have reported the performance of many of their investments before taking the fees paid to money managers into account. After factoring in those fees, his staff found that they had dragged the overall returns $2.5 billion below expectations over the last 10 years.

Apr 09 15:39

Iran – The Story behind the Story

Allowing a country like Iran destroying the US hegemon’s power base by taking a sovereign decision to abandon the dollar for oil and gas trading – no way.

It would have meant the end of the dollar as the world’s chief reserve currency, and giving up the instrument of coercing the world into accepting Washington’s dictate, the tool that serves to dish out sanctions left and right – no way!

Washington’s seemingly blind and preposterous arrogance drives the closest allies into the ‘adversary’s camp. The FED (Federal Reserve Bank) announced on 2 April 2015 that it fined the German Commerz bank with 1.7 billion US dollars for dealing with Cuba, Sudan and Iran – Washington sanctioned countries.

When even the staunchest stooges of empire seek alliances in the East, the writing is on the wall, that the economic winds are shifting, that a tectonic sea-change is in the offing and that the Iran nuclear deal, one way or another, doesn’t really matter in the foreseeable future.

Apr 09 15:17

13 Major Global Economic Worries

Apr 09 14:05

Walgreens to renounce U.S. citizenship

Walgreens CEO, Gregory D. Wasson, announced that it plans to move its corporate headquarters to Switzerland as part of a merger with Alliance Boots, a European drugstore chain. The move will allow Walgreens profits to be taxed a lower rate in Switzerland and reduce Walgreens taxes in Illinois.

Walgreens plans the move, even though the taxpayers of Illinois gave it a $6 million tax credit over a period of 10 years, provided $625,000 in training money and $875,000 in additional tax incentives.

Apr 09 13:59

World's largest economy (PPP) 1000-2015

Apr 09 13:45

Eiffel Tower, schools, airports shut as thousands take to French streets in nationwide strike

A nationwide strike in France has seen thousands of people march instead of going to their regular jobs on Thursday. The union-led protest affected public services, air traffic, radio broadcasts and Paris’ most-famous landmark.

The strike is a day after President Francois Hollande's government said it expected one percent economic growth this year and lowered its forecast for 2016 and 2017.

The unions are protesting against budget cuts and a number of other grievances they have against the government or employers.

Thousands of protesters marched in Paris between Place d’Italie and the Invalides

Apr 09 13:44

BRICS $100bn reserve currency pool to soothe global shocks – Medvedev

The creation of the BRICS reserve currencies pool worth $100 billion will allow member states to depend less on negative processes in the world economy and bypass market volatility, said Russian Prime Minister Dmitry Medvedev.

Apr 09 13:31

Iran Joins China-Led Asian Infrastructure Investment Bank

The China-led Asian Infrastructure Investment Bank accepted Iran's membership on Tuesday, the Iranian embassy in Beijing said.

Apr 09 13:22

Israel Applies To Become Founding Member of China Development Bank

The Israeli government has submitted its application to become a founding member of a controversial Chinese-led development bank, in a move that is likely to cause consternation in Washington.

Newly re-elected Prime Minister Benjamin Netanyahu signed a letter to join the Asian Infrastructure Investment Bank (AIIB) by the March 31 deadline, according to the country’s foreign ministry.

Israel would become the latest country to join the 40-nation bank, which already includes the UK, Germany, France, Italy and Australia.

“Israel’s membership in the Bank will open opportunities for integration of Israeli companies in various infrastructure projects, which will be financed by the bank,” said an Israeli government statement.

The creation of the Bank, under the vision of Chinese premier Xi Jinping, has attracted criticism from the United States, who has warned their closest allies against courting better relations with Beijing.

Apr 09 12:06

Cost of negative bank rates

So you thought that the unimaginable could not happen

Apr 09 11:25

Biggest Deal Of The Year, Shell Buys The British BG Group

Royal Dutch Shell has agreed to buy BG Group by 47 billion pounds — equivalent to 69,700 million dollars, as both companies announced Wednesday. The operation gives the big oil company Shell participation in global markets for natural gas in oil prices decline.

http://whatisusa.info/biggest-deal-of-the-year-shell-buys-the-british-...

Apr 09 10:37

Consensus Global EPS Growth Now Vs. 6m Ago

Apr 09 10:25

Widespread Outages A Sign Of Bigger Problems To Come?

A massive power outage blacked out thousands in D.C. and Maryland and officials say the issue started with transmission equipment dozens of miles away.

Now– some are raising the red flag about how fragile the power grid really is.

Webmaster's Commentary: 

"Look, we are really sorry about the blackouts. Hey, it hit the White House, too, so don't complain to me! And we are sorry about the water main break that flooded the subway in New York, but look on the good side; it probably drowned all those rats and homeless people. And yes, the decay of the water systems out west is a huge part of the reason California is going back to desert, and I know you are all complaining about the high taxes and wondering why that money is not being spent on this nation's infrastructure. But government is choosing. Government is prioritizing, and right now the priorities we have are propping up Wall Street, truckloads of cash and weapons for Israel, and paying for all these wars across the globe, and you Americans better stop whining and complaining and get with the program, dammit!" -- Official White Horse Souse

Apr 09 09:36

Corporate Media: Cash Is Dirty, We Must Ban It

Apr 09 09:31

Louisiana Bans Cash Transactions on Used Goods!

The State of Louisiana has just passed new legislation BANNING cash transactions for used goods, mandating that any purchase be made via check, electronic transfers, or money order issued to the seller.

The draconian new law also requires all transactions to provide the State documentation of a description of the goods sold, and the client’s personal information including name, address, driver’s license number and the license plate number!

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