ECONOMY | WHAT REALLY HAPPENED


ECONOMY

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Jul 06 12:42

Russian Central Bank Starts Holding Yuan Foreign Currency Reserves

Russia's Central Bank started buying Chinese yuan-denominated assets in the fourth quarter of last year, as Moscow seeks to diversify its foreign currency reserves and reduce its dependence on the US dollar.

Webmaster's Commentary: 

Jul 06 12:37

Someone Just Made A Massive Bet On Gold: “The Bullion Breakout Is Far From Over”

Global stock market panic following the Brexit vote suggests investors around the world are quickly realizing that the collapse of the entire system is inevitable.

Though Brexit may have been the trigger for the latest sell-off, the fall out is merely an indicator of much deeper problems.

And as the crash accelerates, those with foresight are rapidly divesting themselves of traditional assets and moving their capital into safe havens of last resort. The latest move comes from an unknown trader who, according to CNBC, just made a massive bet on gold:

If you missed out on gold’s recent rally, fear not, because one savvy trader is betting more than $6 million that the bullion breakout is far from over.

Jul 06 12:34

Goldman Warns Of A Sharp Plunge In Stocks In "Next Few Months"

That Goldman's David Kostin has been warning about the possibility of a sudden, sharp drawdown in the market, is not new: we first reported on that in early May when we presented "Six Reasons Why Goldman Is Suddenly Warning About A "Large Drop" In The Market" in which we cited the head Goldman equity strategist who said that "unbalanced distribution of upside/downside risks suggests “sell in May” or buy protection." He adds that "we continue to expect S&P 500 will end 2016 at 2100, roughly 3% above the current level even as "a shift in investor perception of various risks could easily trigger a drawdown."

Jul 06 12:33

"It Feels Like 2008" Government Bond Yields Signal "Something Very Nasty Is Coming"

With global developed market bond yields crashing to record lows and almost $10 trillion of negative-yielding debt worldwide, it is no surprise that money managers are concerned that "it's starting to feel like 2008."

Global developed market bond yields crashed once again to new record lows overnight at just 40.0bps (having plunged from 63bps pre-Brexit)...

Jul 06 12:33

A Furious Italian Prime Minister Slams Deutsche Bank As Europe's Most Insolvent Bank

Several years ago, we were the first to point out the true "elephant in the room", namely Deutsche Bank's $75 trillion in derivatives which as we said at the time was about 20 times bigger than Germany's GDP, and 5 times bigger than the entire economic output of the Eurozone."

Jul 06 11:51

WHY THE WAR ON DRUGS IS A HUGE FAILURE

The countless billions of dollars poured into the War on Drugs has resulted in mass incarceration, corruption, political destabilization, violence, the rise of drug cartels, and systemic human rights abuses around the world. The one thing the War on Drugs hasn't done is stopped people from using drugs. The animated video series, Kurzgesagt – In a Nutshell, explains why the problems associated with drug use are caused by the war against them.

Jul 06 11:29

“Gold Has Entered a New Phase” Says UBS

Jul 06 11:23

British Pound Hit Fresh Lows Against Dollar

The British pound hit fresh lows against the dollar and the euro on Wednesday as financial turmoil intensifies in the wake of UK’s decision to leave the European Union.

Jul 06 10:28

San Francisco/Seattle Media Blitzes on Homelessness: Truth is Also Homeless in the Land of the Fee, Home of the Slave

By Rebecca Em Campbell

During the week of June 26-July 2, 2016, it was announced that both corporate mainstream and allegedly independent media in both Seattle, Washington State and San Francisco, California would on June 29 launch a media blitz of “investigative reports” on homelessness in their two respective cities. Here is a brief aggregated summary and analysis of the two week’s end compilations of these “investigative reports” and their larger implications, as well as weblinks...

Jul 06 10:16

TRADE DEFICIT WIDENS MORE THAN EXPECTED: EXPORTS WEAKEN, IMPORTS RISE

The US trade deficit with the rest of the world worsened in May to $-41.1 billion from $-37.4 billion.

Exports declined and imports rose. The latter primarily due to rising crude prices.

Contraction in capital goods exports shows declining global demand.

The May trade deficit was worse than the Bloomberg Econoday consensus estimate was $-40.0 billion and outside the entire range of $-40.5 billion to $-38.4 billion.

Webmaster's Commentary: 

The US no longer produces products that the world wants to buy; and our GMO foods are avoided like the plague, when they can be avoided.

The global economy appears to be choking up completely.

Jul 06 10:12

WORLD'S BIGGEST ASSET MANAGER DOWNGRADES EUROPEAN BANKS TO SELL, EXPECTS GLOBAL SLOWDOWN

Exactly one month ago we reported that BlackRock, the world's largest asset manager, had downgraded global equities to Neutral, saying "U.S. valuations are elevated." The chief catalyst for that call was BlackRock's assumption that a summer Fed rate hike was imminent, something which now is assured won't happen for years. So overnight BlackRock shifted its attention, and this time sees Brexit as the downside catalyst du jour, one which for Blackrock is enough to cause it to trim its global growth expectations, as it now expects "a modest slowdown over the next 12 months."

More importantly, Blackrock also notes that since "there’s limited scope for monetary policy to reflate the global economy, however, and much-needed fiscal stimulus and structural reform progress looks unlikely over the coming months" it has in response "downgraded European stocks to underweight, with a negative view of the eurozone banking sector."

Webmaster's Commentary: 

The Italian banks are flailing; Deutsche Bank was unable to pass the last Federal Stress Test; and once the floodgates of contagion are open, in the banking community, it is hard to see how the damage can be contained, once it starts.

Jul 06 10:07

Toyota to let go of 800 workers in Thailand

Japanese car maker Toyota said Wednesday it is letting go of at least 800 workers at its factories in Thailand under a voluntary departure program, a reflection of deepening troubles in the Thai automotive industry.

Toyota Motor Thailand said in a statement that it aims to reduce by up to 900 its staff strength of 16,477 at three manufacturing facilities due to declining sales.

Jul 06 09:39

Marc Faber - All paper currencies are DOOMED!

Jul 06 08:53

French Citizens Rise Up In Their Millions To Protest Ruling Elite

France is in chaos once again as thousands of protesters swarm the streets in their millions in protest against the ruling class who they say are taking away their rights. The scale of the events is being watered down by the mainstream media in an attempt to suppress any scale or domino effect of other countries around the world.

Webmaster's Commentary: 

Look at the size of the crowd in that photo!

Jul 06 08:44

Goldman Warns Of A Sharp Plunge In Stocks In "Next Few Months"

"Tactically, we continue to expect the market will experience a pullback of 5%-10% during the next few months before ending the year at 2100."

Jul 06 08:39

EU Banks Crash To Crisis Lows As Funding Panic Accelerates

The signs are everywhere - if you choose to look - Europe's banking system is collapsing (no matter what Draghi has to offer). From record lows in Deutsche Bank and Credit Suisse to spiking default risk in Monte Paschi, the panic in Europe's funding markets (basis swaps collapsing) is palpable.

Jul 06 08:28

Court Strikes Down Obama Health Care Rule on Insurance Standards

A federal appeals court has ruled that consumers must be allowed to buy certain types of health insurance that do not meet the stringent standards of the Affordable Care Act, deciding that the administration had gone beyond the terms of federal law.

The court struck down a rule issued by the Obama administration that barred the sale of such insurance as a separate stand-alone product.

Jul 06 08:25

14th Obamacare co-op collapses

Connecticut's taxpayer-funded Obamacare health insurer will close due to minimal federal funding, becoming the 14th consumer-operated and oriented plan to shut down.

The state's insurance regulator took over HealthyCT, the state's Obamacare co-op, on Tuesday due to financial problems. The co-op, created to spur more competition on Obamacare's marketplaces, is the 14th out of 23 nationwide to shut down since they were created in 2014.

Now only nine co-ops remain.

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Jul 06 07:25

From Prince to Pauper: Ukraine's Government in Trouble Thanks to IMF

The Ukrainian government is negotiating with the IMF on the third tranche of its promised $17.5 billion credit line, after being given $5 billion in March 2015 and another $1.7 billion in August 2015. However, additional funding has not been forthcoming due to the country's political crisis and lack of progress in reforms. Now, Kiev is hoping to receive an additional $1.7 billion before the year is out, but is going to have to cut social programs even further to do so.

Webmaster's Commentary: 

"Look, just let them all starve to death, sell the bodies for commercial purposes and GIVE US MORE MONEY!!!!!!!" -- International Mother *uckers

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Jul 05 14:48

This Map Shows Where the 1% Lives

Jul 05 12:32

UK Business Pessimism Almost Doubles After Brexit: Survey

Pessimism about the economic outlook in the UK has sharply increased following the historic vote to leave the European Union, a new survey shows.

Jul 05 12:25

The Millennial Generation Is A Perfect Fit For Socialism

Few developments have caused as much recent consternation among advocates of free-market capitalism as various findings that millennials, compared to previous generations, are exceptionally receptive to socialism.

Jul 05 11:43

US Treasury Yields Crash To New Record Lows

With Swiss rates negative to 50 years, the buying panic in US Treasury bonds continues, sending 10Y rates to 1.3666% - a new record low.

Webmaster's Commentary: 

YIKES!!!!!

Jul 05 11:39

Saxo Fears "Cascading Implosion" As Italian Bank Collapse Continues

The biggest theme emerging in the post-Brexit world is the evolving banking crisis in Italy which has actually been under way since the beginning of the year as the new non-performing exposure rules started to be enforced by the European Banking Authority.

UniCredit, Intesa, Monte Paschi, Banco Popolare, and UBI collectively had €119 billion in unprovisioned non-performing loans at the end of Q1 with UniCredit’s exposure being the critical piece in the overall European banking system.

The Italian banking system has around €400bn in total non-performing loans. The aggregate common equity among Italian publicly-listed banks was around €125B (as of the end of Q1) and around 75% of the uncovered non-performing loans.

Webmaster's Commentary: 

There is no way to ultimately limit the contagion which will most likely hit the US banking sector from this, because of the connectedness of financial systems world-wide.

Jul 05 11:06

Trump Hammers On Brexit, “Independence Day” And Repudiation Of Rule By The Global Elite

One thing is clear, whether or not everyone will agree with what is said, Trump is at least speaking more directly than most politicians do

It turned out that Trump wasted no time in making sure that the people of America understood that what had been done in the UK can be done in the United States.

Jul 05 10:57

Globalists and Neocons Prove Incapable of Understanding Reality

If Trump wants to put America first, he needs to start firing the Neoconservatives and their lackeys from the White House and putting them on trial for making Americans look really bad.

Rather than listening and learning and modifying their actions, the ruling elites stick to “more of the same.” This process clearly emblematized by the endless procession of Bushes and Clintons replacing each other in the positions of power.

Jul 05 10:32

MEXICAN PRESIDENT DEMANDS U.S. MERGE WITH MEXICO, CANADA

Nieto is attending a North American leaders summit in Ottawa on Wednesday to push the years-long, globalist proposal that would combine the U.S., Mexico and Canada into a regional entity at the expense of U.S. national sovereignty, which starts with joint energy agreements.

?“The purpose of this visit is to renew our bilateral relationship, to give it new life, to find ways to advance the prosperity and competitiveness of North America,” Nieto said, with emphasis added on North America.
He’s not the first Mexican president to push the NAU; Vicente Fox also pushed the globalist plan, but he was so vocal about it, the Bush administration finally told him to keep quiet to avoid negative press.

Webmaster's Commentary: 

So, the President of Mexico is DEMANDING that the US join the NAU?!?

The President of the same Mexico rife with corruption, drugs, poverty, and the assassination of teachers, who desperately are trying to get better outcomes for their students?!?

As reported at commondreams.org on 22 June, 2016:

The Mexican government's deadly crackdown on a teacher's union protest has rattled the nation in recent days, as 200,000 doctors on Wednesday joined the ongoing national strike against President Enrique Peña Nieto's neoliberal reforms. Anti-government sentiment is mounting after police forces opened fire on a teacher protest in Oaxaca on Sunday, killing at least eight. Since then, two high level government officials from that state, Oaxaca Minister of Indigenous Affairs Adelfo Regino Montes and Secretary of Labor Daniel Gutierrez, have resigned in protest of the "authoritarian actions that repress and kill Oaxacan people who defend their rights and the government’s negligence to any possibility of dialogue," as Gutierrez put it.

Is Mexico really the partner with which the US government would want to align, given these horrific situations and the suppression Nieto has visited upon his own people, even to the point of assassinating Oaxaca's teachers?!? Were it put to a referendum of the American people, chances are, that they would say no, definitively; but such a referendum will never happen.

Such a partnership will not lift Mexico out of its current state of unrest and poverty; it will, however, drag the standards of living in both the US and Canada down to Mexico's level, which is precisely what the globalists want.

As evidenced by the Brexit, such a united economic and geopolitical entity is great for the one percenters, but in general lousy for working people living under the strictures of such a union.

Jul 05 08:55

"We Won't Be Lectured" - Italy's Renzi To Defy Brussels Over Banking Bailout

With all eyes distratcted by the post-Brexit euphoria, the last week has seen a far more existential crisis accelerating in Europe. Italy's banking system is in tatters (from a EUR40bn bailout 6 days ago, to EUR150 emergency support 3 days ago, to a bank bailout and chatter of further support from pension funds Friday) but, in what seems like a clear admission that things are really bad, The FT reports that Italian prime minister Matteo Renzi is prepared to defy the EU and unilaterally pump billions of euros into its troubled banking system if it comes under severe systemic distress, a last-resort move that would smash through the bloc’s nascent regime for handling ailing banks.

Jul 05 08:53

ZOOPLA CEO BEHIND MISHCON DE REYA ANTI-BREXIT LEGAL ACTION

City law firm Mishcon de Reya are launching a legal challenge to Brexit with the backing of a number of businesses who for some reason haven’t been named publicly. Guido can reveal one of the firms behind the action is property website Zoopla.

Jul 05 08:34

4th of July: Maybe This Year Americans Will Declare Independence From Their Bankster Overlords

The fourth of July is US Independence Day, the biggest national holiday, and Americans do have reason to celebrate. They rule the world, with hundreds of bases and the most powerful navy and air force. Even the President of Russia said that they were ‘probably the only superpower’. But more and more Americans have come to doubt their independence.

If they rule the world, why is their life becoming worse? Why are salaries falling, why is the middle class disappearing, why are plants moving to Mexico or China? Why do today’s Americans not have the same expectations in education, jobs, or buying a house like their grandfathers had in the 1950’s? Why do Americans need their ships to provoke China in the South China Sea and their tanks to be in the Baltic states? Why should Americans be ashamed of the fact that their ‘foreign’ ancestors founded America?

Jul 05 08:01

Being murdered is no reason to forgive student loan, New Jersey agency says

Amid a haze of grief after her son’s murder last year, Marcia DeOliveira-Longinetti faced an endless list of tasks – helping the police gain access to Kevin’s phone and email; canceling his subscriptions, credit cards and bank accounts; and arranging his burial in New Jersey.

And then there were the college loans.

When DeOliveira-Longinetti called about his federal loans, an administrator offered condolences and assured her the remaining balance would be written off.

But she got a far different response from a New Jersey state agency that had also lent her son money.

“Please accept our condolences on your loss,” a letter from that agency, the Higher Education Student Assistance Authority, said. “After careful consideration of the information you provided, the authority has determined that your request does not meet the threshold for loan forgiveness. Monthly bill statements will continue to be sent to you.”

Jul 05 07:53

France: Protestors Rise Up In Their Millions Against Ruling Class

French protestors are rising up in their millions against a ruling class determined to take away their rights. There is anarchy on the streets of France as the mainstream media continues to suppress the scale of events.

Jul 05 07:48

France forces through labour bill amid new protests

France's controversial new labour laws look set to be pushed through parliament today without a vote, as demonstrators get ready to protest once again.

Jul 05 07:43

Is it Time for a New Deal Federal Jobs Program?

Bernie Sanders advisors Bill Black and Stephanie Kelton tell Paul Jay that the public-private partnership model is a disaster, and increased infrastructure spending combined with austerity would throw the economy into a recession

Jul 05 07:43

Gold, Platinum, and Silver Speak To Us!

Jul 05 07:05

Nobel laureate GMO promoter presided over firm that lost billions

The letter from over 100 Nobel laureates attacking Greenpeace for opposing GMOs in general and GMO golden rice in particular has become mired in a new scandal.

Last week the publicity stunt was shown to have links to Monsanto. Representatives of NGOs – including Greenpeace, the subject of the laureates’ attack – who tried to attend the press conference about the letter were astonished to find their way blocked by none other than Jay Byrne, Monsanto’s notorious former communications director and president of the PR company V-Fluence, which is known to work for Monsanto. He is on record as having identified Greenpeace as a target for attack as far back as 2010.

Knowledgeable critics also denounced the letter on the grounds that most of the signatories had no expertise in relevant fields such as toxicology, agriculture, or risk assessment.

Jul 05 06:42

Markets sing the post-holiday blues as the ‘Brelief’ rally fades

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Key market gauges
S&P ESU6, -0.51% and Dow futures YMU6, -0.48% show those gauges on track to open in the red, after they scored their biggest weekly gains of 2016 last week.

Europe SXXP, -1.68% is also falling, building on yesterday’s declines, though the U.K.’s FTSE 100 UKX, +0.24% has turned positive. Asia closed mostly down, though Chinese stocks SHCOMP, +0.60% bucked the negative trend as President Xi Jinping called for state-owned enterprise reform.

Oil CLQ6, -3.25% has been slumping, with blame going to supply worries and downbeat views from a couple of banks. The Brexit-battered pound GBPUSD, -1.6706% fell to a fresh 31-year low, but it bounced back a bit as the Bank of England’s Mark Carney spoke. The ICE U.S. Dollar Index DXY, +0.17% is little changed after a choppy morning. Gold GCQ6, +0.88% and silver SIU6, +1.52% are both higher, after silver touched a two-year high on Monday. Government bond yields are sinking to record lows.

Jul 05 06:30

Brexit Puts The Squeeze On Central Banks

Brexit puts squeeze on central banks to fix financial jitters
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On Tuesday, the central bank in its Financial Stability Report took steps to shore up the U.K. economy, cutting the countercyclical buffer for banks to 0% from 0.5%. The move should allow banks to lend an extra £150 billion ($199 billion) to U.K. businesses and households to keep the economy flush with credit, the bank said.

U.K. seen sliding into recession
Carney also warned, however, that the first Brexit risks “have begun to crystallize.” Concerns over the future of the U.K. economy post-Brexit have been a key topic since the referendum was announced in February. Since the ballot in June, GDP forecasts for the country have been consistently slashed.
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Investors may get a hint of what’s coming when ECB President Mario Draghi speaks in Frankfurt on Wednesday at 9 a.m. Central European Time, or 3 a.m. Eastern Time.

Jul 04 15:47

GOLD to Hit ALL time High Within Months

Jul 04 12:58

Dr Paul Craig Roberts: BREXIT, WHAT NEXT ?

Hopefully, a result of the Brexit will be the breakup of the European Union and NATO

Britain’s exit from the European Union (EU) could probably prevent the United States from launching World War III, says Dr. P C Roberts.

Jul 04 12:44

George Soros Goes to War on China Economy

Jul 04 12:42

Keiser Report: Debt Balance Sheet

Jul 04 12:27

ALL WARS ARE BANKERS' WARS!

"The modern banking system manufactures money out of nothing. The process is perhaps the most astounding piece of sleight of hand that was ever invented. Banking was conceived in iniquity and was born in sin. The Bankers own the Earth. Take it away from them, but leave them the power to create deposits, and with the flick of a pen they will create enough deposits to buy it back again. However, take it away from them, and all the fortunes like mine will disappear, and they ought to disappear, for this world would be a happier and better world to live in. But if you wish to remain slaves of the Bankers and pay for the cost of your own slavery, let them continue to create deposits." -- Sir Josiah Stamp, President of the Bank of England in the 1920s, the second richest man in Britain

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Jul 04 11:17

Arizona Republican Suggests “Sterilizing Women As A Condition For Receiving Food Stamps”

The far-right former lawmaker who helped push Arizona’s “papers please” immigration law has resigned as a top official with the state GOP after making comments about sterilizing poor women. The state Democratic Party recently highlighted comments made by Russell Pearce, a former state senator, on his radio show. Discussing the state’s public assistance programs, Pearce declared: “You put me in charge of Medicaid, the first thing I’d do is get Norplant, birth-control implants, or tubal ligations…Then we’ll test recipients for drugs and alcohol, and if you want to [reproduce] or use drugs or alcohol, then get a job.”

Jul 04 10:33

Something Huge Is Coming From Japan

Jul 04 10:13

Why Buy Bonds When You Can Buy Gold?

Jul 04 09:51

Britain's FTSE Index Hits 10-Mo High Despite Brexit Hysteria

London’s FTSE 100 rose for a fourth straight session on Friday to reach its highest level since last summer, recovering from the initial negative impact caused by the UK’s vote to leave the EU in a referendum last week.

Jul 04 08:59

GREENSPAN TELEGRAPHS GOLD CONFISCATION

Alan Greenspan recently threw up his hands and proclaimed: America should return to a Gold Standard.

Former Federal Reserve Chairman Alan Greenspan was just a guest on Bloomberg news and recommended that the U.S. return to a gold standard! He then said, “if people call me a gold bug, they should ask themselves why do central banks own gold now?!”

I believe this a warning message for those owning gold: The banksters are going to call-in their gold.

Jul 04 07:43

ALERT! Silver Bull Is Raging!

Jul 04 06:56

London Stock Exchange set to merge with Germany's Deutsch Boerse - despite Brexit

THE London Stock Exchange (LSE) is set to merge with its German equivalent Deutsche Boerse to create a European exchange giant - despite concerns over how the pairing would work post-Brexit.

Jul 04 06:50

EU demands Britain pays £12 BILLION into Brussels budget despite Brexit vote

BRITAIN will pay £12 billion into Brussels coffers next year even though the public has voted to leave the European Union (EU).

The UK’s bill for membership of the Euro club will go towards bankrolling a Brussels border and coast guard, a new Agency for Asylum and the groundwork for an EU army.

The eye-watering figure has been revealed in a new draft budget released by the EU Commission and equates to a staggering £230million a week.

Jul 04 06:16

CON GAME COLLAPSING, SILVER SOARING

Jul 04 05:57

UK to slash corporation tax to cushion hit from Brexit

Britain has announced plans to cut corporation tax to less than 15 percent in an attempt to cushion the shock of the country's decision to leave the European Union, raising the prospect of competitive tax cuts across the bloc.

Finance minister George Osborne told the Financial Times he wanted to build a "super competitive economy" with low business taxes and a global focus.

The new rate, which was announced without a target date, compares with Osborne's previous target to cut corporation tax to 17 percent by 2020 from 20 percent now. It compares with an average of 25 percent among most developed economies

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Jul 03 17:41

Sweden’s Largest Gold and Silver Dealer’s Bank Accounts Closed, Shut Out of Banking System!

With European capital scrambling into gold following BREXIT, the cartel just played their hand.

The plan this time is NOT door-to-door confiscation, but simply to SHUT DOWN the best gold and silver dealers the moment the public begins to wake up…

Jul 03 17:28

World queues up to win trade deals with Britain after Brexit: US clamouring for a deal while talks are set to begin with Australia, South Korea and India

In the wake of Brexit, nations outside Europe are eyeing opportunities to increase trade with Britain for the first time in decades.

Jul 03 17:27

How Machines Destroy and Create Jobs

Jul 03 16:50

The global monetary system is collapsing…

Jul 03 16:31

The Decline of Coal in Three Charts

Jul 03 15:28

My Evolving Disenchantment With Capitalism

Like many undergraduate students who came from a working class background I went through a stage wherein I adopted many of the values espoused by my “left” leaning professors. I have to admit I was also profoundly influenced by a book titled Sweden: the Middle Way by Marquis Childs that was touted to be the way of the future by many leading intellectuals in the academic world.

Jul 03 11:00

US' Largest Private Coal Miner To Layoff 80% Of Staff Due To "Obama's Ongoing Destruction"

Robert Murray, the controlling owner of Murray Energy - America's largest private coal miner - said the potential layoffs were "due to the ongoing destruction of the United States coal industry by President Barack Obama," adding that electing "friends of coal" like Mr. Trump were the only hope the industry has.

Jul 03 10:47

Chairman of Greece’s Jetoil Found Dead, Police Spokesman Says

Kyriakos Mamidakis, chairman of Greece’s Mamidoil-Jetoil Greek Petroleum SA that sought bankruptcy protection last week, was found dead at his home near Athens Sunday, a Greek police spokesman said.

Mamidakis was found with a gun next to his body in what appears to have been an act of suicide, the police spokesman said, requesting anonymity in line with policy. Calls to the company were unanswered.

Jul 03 10:12

BREXIT COINCIDES WITH INDIA'S AND PAKISTAN'S ENTRY INTO THE SCO

The fall of the Berlin Wall in 1989 laid down a US unipolar geo-strategy and toxic, financial globalization, that sowed monstrous inequality at the local/regional/global levels. This was harnessed by mass unemployment and suffocating austerity.

Half a century after dangerous period of deregulation under Thatcher and 27 years after the fall of the Berlin Wall, Brexit marks the start of a sorrowful route to de-globalization [1]. This involves geostrategic changes that emphasize the dynamic trend of multi-polarity.

Brexit shifts a geostrategic plate and this will have serious consequences for the new global order, now defined as having three poles, with the US, Russia and China occupying one each.

In the short and medium term, Brexit ranks of equal importance to the fall of the Berlin Wall.

Jul 03 10:02

EU Basics – Your Guide to the UK Referendum on EU Membership

"...the EU is the project to abandon all national sovereignty and borders within and melt away all European nations that don’t succeed in exiting in time, into a merged, joint new single country, with one central European government, centralised European monetary policy, centralised European fiscal policy, centralised European foreign policy, and centralised European regulation, including of financial markets and banking. This United States of Europe, an undemocratic leviathan that the European peoples never wanted, is the culmination of the much repeated mantra of "ever closer union“.

"...Big business and big banks, as well as central bankers and the IMF, constitute the financial elite that is behind this purposeful concentration of power – giving ever more power into the hands of ever fewer people. The undemocratic nature of EU institutions has reached such an extent that I have heard a recently retired member of the ECB governing council in private confessing that his biggest worry is the undemocratic nature and extent of the ECB’s powers, which have increasingly been abused for political ends. These facts have been drowned out by the constant drip of propaganda emanating from the powerful elites behind the creation of the United States of Europe.

Jul 03 09:27

ChristianMingle Forced to Service Gays, Shaken Down for $500k

ChristianMingle has been shaken down for close to $500,000 and forced to service gays -- both literally and figuratively.

Jul 03 08:49

Desperately Trying to Salvage Canada-EU Trade Pact after Brexit, EU Escalates Assault on Democracy

The European Commission, it seems, will never learn. Despite the existential crisis caused by Britain’s decision to leave the EU and the serious questions being raised about the EU’s gaping lack of democratic legitimacy, the European Commission just escalated its assault on European democracy. This week the Commission announced that it would ratify CETA, the controversial trade deal between Canada and the EU, as a unilateral EU agreement, not as a so-called mixed agreement. What that means is that the national parliaments of the 27 remaining EU member states will have no influence whatsoever over the approval process, even though (or more likely because) the trade agreement will have huge, sweeping effects on the society, governance, and economy of all the nations concerned. In other words, the EU’s democratic deficit, one of the decisive factors in Britain’s decision to sever the cord from Brussels, just got a whole lot bigger. Yet it was barely reported in the press.

Jul 03 08:02

Uh-oh! Company's coming. Get those Philly homeless out of sight.

It's uncomfortable to walk past. It's dirty. We wouldn't want Democrats coming to town to be confronted with the crisis of humanity on our streets.

But if we want these people to move somewhere else, we must first admit that for Philadelphia's homeless, somewhere else so often means somewhere else on the street.

If by some miracle the 50-some souls sleeping outside the Convention Center all raised their hands and said, "Yes, we will come inside," the truth is that we likely would have nowhere to send so many of them.

Jul 03 07:57

Lord Rothschild Demands Britain Stay In Europe

Rothschild, who chairs the RIT Capital Partners investment trust, refers to his family businesses which originated with five brothers setting up the “first truly international banking system,” operating from London, Paris, Vienna, Naples and Frankfurt at the end of the 18th century.

Webmaster's Commentary: 

Oh, so the world's greatest money-junkie demands Britain stay in the EU. He DEMANDS it, like he thinks he is the true ruler of the world!

Small point his Imperial Rothschildness should recall. The Templars set up the world's first international banking system in the 12th Century, and like that of the Rothschilds, it was based on debt. We know what happened to the Templars when rulers realized they could never pay their way out of debt. Maybe it is time for a repeat!

Jul 03 07:27

How bad are the bankers really? - Worse than you can imagine

Here's how big banks work today:

1. Steal with both hands
2. Pay back a small share of the profits in fines
3. JP Morgan has already given back $36 billion which means the profits from their fraudulent activities are many, many times that amount.

"They go from one crime to another. No one gets prosecuted."

"All you have to do it follow the money. Everyone has been paid off."

Jul 03 07:22

'Perfect Storm' of Anti-Russian Sanctions Punishes Italian Economy

The billion euros in contracts secured by Italian Prime Minister Matteo Renzi at the St. Petersburg International Economic Forum (SPIEF) two weeks ago is a paltry sum compared to the damage inflicted on Italy by the sanctions war between the EU and Russia.

Jul 03 07:03

Kuwait Plans to Sell as Much as $9.9 Billion in Dollar Bonds

> Kuwait also plans to raise up to 2 billion dinars locally
> Kuwait looking to plug budget deficit of 9.5 billion dinars

Kuwait plans to raise as much as $9.9 billion from international debt markets to help plug its budget deficit as lower oil price squeezes public finances.

The OPEC member also plans to borrow as much as 2 billion dinars ($6.6 billion) from the domestic market>>>

Jul 02 21:52

Trump better choice by far – Alan Sabrosky

An exclusive interview with Dr. Alan Sabrosky

Q. Does a US-inspired NATO-generated Cold War climate already exist?

A. Not yet, but it is heading that way. Watch for it to intensify under Clinton, and to ameliorate under Trump.

Jul 02 18:36

America Should Exit From NATO and the National Security State

snip: What did U.S. and NATO officials think — that people would simply remain where they were so that they could get blown to bits with the bombs that were being dropped on them, by the U.S. assassination program, or by the massive civil-war violence that came as a result of the U.S. and NATO regime-change operations?

People don’t ordinarily behave in that fashion. Most people prefer to live rather than die and will do anything they can to survive. That’s why those refugees fled to Europe— to escape the horrific consequences of interventionism by NATO and the U.S. national security state in the Middle East.

I wonder if deep down, those who are lamenting and groaning about the Brexit vote realize that: If there had been no U.S. invasion and occupation of Iraq, no regime change in Libya, no U.S. and NATO bombing and interventionism in Syria, there wouldn’t have been a massive refugee crisis in Europe and, almost certainly, a rejection of Brexit by a majority of British voters.

Jul 02 17:51

What do famous people think about Zionist Jews? (100 MINS)

A series which took the Internet by storm of people you will recognise from Politicians, Journalists, Authors, Actors, Musicians and many more speaking the truth about Zionism.

Jul 02 16:33

Fears new Brussels law that will 'crucify' UK ports may STILL apply post-Brexit

Industry chiefs fear a controversial new law will drive many of our maritime businesses to the wall, putting more than 300,000 jobs at risk nationwide.

The hotly contested Port Services Regulation has been described as the death knell for Britain’s shipping industry and was strongly opposed by business leaders.

Its implementation was viewed as such a powder keg issue in the UK that senior bureaucrats put back the announcement on its future until after the June 23 referendum.

But this week the all-powerful EU Commission revealed it will plough ahead with the regulation amid warnings the Brexit vote may not exempt British ports from its punitive measures.

A spokesman for the Department for Transport said it will be "for the next administration" to decide whether or not to block the new law.

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