ECONOMY | WHAT REALLY HAPPENED


ECONOMY

May 16 18:10

The Pernicious Myth Of Perpetual Economic Growth

Nothing grows forever. The myth the economy can is destroying the biosphere.

The present human condition is predicated on one of the biggest lies ever – that the economy can grow indefinitely.

May 16 18:09

Cameron’s Legacy? 1 In 3 Brits Experienced Poverty In Past 3yrs, PM Warns Brexit Will Make It Worse

A third of Britons have experienced poverty at least once in the last three years, and almost four million live in “persistent poverty,” research suggests. Cameron has presided over years of falling living standards, but says Brexit could make it worse.

May 16 17:11

£9,000 Not Enough? University Fees May Rise Again Under New Tory White Paper

Universities in the UK which meet ‘high standards’ will soon be able to raise student tuition fees above the £9,000 (US$13,000) cap in line with inflation, a government white paper has said.

The plans will be rolled out from autumn 2018 as part of a wider reform of Britain’s higher education sector, which the government claims will encourage more competition and better value for students.

May 16 16:53

Here’s Why the Gold and Silver Futures Market Is Like a Rigged Casino…

By Clint Stiegner

A respectable number of Americans hold investments in gold and silver in one form or another. Some hold physical bullion, while others opt for indirect ownership via ETFs or other instruments. A very small minority speculate via the futures markets. But we frequently report on the futures markets – why exactly is that?

Because that is where prices are set. The mint certificates, the ETFs, and the coins in an investor’s safe – all of them – are valued, at least in large part, based on the most recent trade in the nearest delivery month on a futures exchange such as the COMEX. These “spot” prices are the ones scrolling across the bottom of your CNBC screen.

That makes the futures markets a tiny tail wagging a much larger dog...

May 16 16:35

Watch The Longest 5 Seconds Of Lloyd Blankfein's Life

Somehow, I had never seen this before today. It's from a Charlie Rose interview with Goldman Sachs CEO Lloyd Blankfein. Honestly, this speaks for itself and needs no introduction.

Lloyd Blankfein frozen in thought crime...

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May 16 16:00

Goldman Sachs Fraud Exposed: 'That Was One Shitty Deal'

Senator asks Goldman Exec: "How much of that shitty deal did you sell to your clients?"

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May 16 15:30

Warren Buffett and Dan Gilbert Unite in Bid to Acquire Yahoo

The two are joined in the second round by a range of other bidders, including Verizon Communications and private equity firms such as TPG Capital and a group that comprises Bain Capital and Vista Equity Partners, people briefed on the process have previously said. Several other strategic bidders are also in the second round.

May 16 14:56

Sanders Vs. Geithner: 'Why Haven't You Fired Lloyd Blankfein?'

For new fans of Bernie Sanders, watch this and learn why us old-timers have known about him for a long time. He gets up Tim Geithner's ass demanding to know why Goldman Sachs CEO Lloyd Blankfein has not been fired like other CEOs after the trillion-dollar Wall Street bailout.

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May 16 14:36

Chinese bank ICBC to buy London gold vault

May 16 14:07

Reports Document Growing Income Inequality, Declining Manufacturing Pay

A new study from the Pew Research Center shows that more than four-fifths of US metropolitan areas have seen household incomes decline in the new century. The research is based on data from urban centers that are home to three-quarters of the US population.

May 16 13:46

Panama Papers Reveal George Soros’ Deep Money Ties to Secretive Weapons, Intel Investment Firm

Billionaire George Soros, who has spent millions of dollars financing Democrats and left-wing causes, used a controversial Panamanian law firm to establish a web of offshore investment partnerships that operate around the world and out of the scrutiny of U.S. regulators, according to leaked documents.

May 16 13:40

Janet Yellen is not going to like what’s happening in Congress this week…

An effort to conduct an unconventional audit of the Federal Reserve is gaining traction in Washington and on its way to a potentially important milestone this week.

May 16 13:22

Hillary Moves Feminism Forward by Saying She’ll Put Her Husband in Charge of the Economy

If you define “progress for women” as “letting your adulterous husband whom you should have divorced years ago handle the job because it’s too difficult for you” and “proving you’re a submissive wife by rewarding your husband’s philandering with high-profile responsibility.”

Hillary Rodham Clinton, while dodging FBI questioners, announced today that she’ll put Bill Clinton and his overzealous sex organ in charge of the economy.

That is, if the American people are dumb enough to elect her president.

May 16 12:18

100% Economic Collapse Before Summer - VIDEO

May 16 11:11

Bernie Sanders Vs. Ben Bernanke

WHICH WALL STREET BANKS GOT THE $2.2 TRILLION?

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May 16 10:44

The Fed Is Desperate To Keep Gold From Exploding Higher

By Dave Kranzler

The Federal Reserve’s “invisible hand” in the markets is no longer “invisible.” It’s become obvious to most market participants that the Fed is working hard to keep the stock market from collapsing and the price of gold below $1300. But why?

The price of gold moved up $15 overnight from the time the Asian markets opened until the Comex gold pit opened. Shortly after the Comex paper gold market trading was underway, an avalanche of paper contracts was dumped onto the Comex – both the electronic trading system and the floor. This is what it looked like...

May 16 10:21

Feds Bust Largest Food Stamp Fraud In US History! (Stole More Than $13 Million)

New footage from PBSO shows the raids that led to the
discovery of the largest food stamp fraud scheme in U.S. history. 500
identities stolen in Palm Beach County to convert food stamp cards into
over $30 million dollars in cash.

May 16 10:18

Elon Musk Just Exposed Billions in Corrupt Pentagon Spending to Weapons Monopoly … Here’s How

By Claire Bernish

Lockheed Martin and Boeing continue to hold an unnecessarily costly monopoly on the Defense Department’s space program, despite an alternative that would spare taxpayers no less than $250 million — each time a space launch is conducted. Government favoritism for the United Launch Alliance — an alliance turned monopoly between Lockheed and Boeing — has left Elon Musk’s SpaceX out in the cold despite enormous potential savings...

May 16 10:17

These Are the Supplies They Are Out of in Venezuela

Every day, there is more dire news out of Venezuela. It’s so bad there that even the mainstream news can no longer ignore that the country is in the midst of an economic collapse. Thousands have turned to looting in order to feed their families. Even their soldiers have been stealing food. Long lines, empty stores, and hospitals without electricity are the norm instead of an unusual occurrence.

It wasn’t always like that. Life before Venezuela devolved into socialism looked a whole lot like our lives do today. In fact, as recently as the 1970s, Venezuela was one of the top 20 richest countries in the world.

So, today, our financial situation certainly looks far brighter than that of Venezuela, but according to a lot of experts, that is a glossy veneer over a crumbling foundation. It really isn’t a question of if, but when.

May 16 09:01

Budget Cuts Force Half of Air Force Bombers to Be Grounded

While the US military was busy spending hundreds of billions of dollars developing the barely flyable F-35, they seem to have neglected their fleet of aging aircraft and overworked maintenance crews. According to a recent investigation from Fox News, more than half of the B-1 bombers at one air base can’t fly, and other squadrons are in desperate need of parts. Some maintenance crews have even been forced to scavenge for parts from aircraft housed in museums. After years of constant deployments coupled with recent budget cuts, America’s air power is crumbling.

May 16 08:57

The Target boycott has reached a boiling point — and sales may suffer as a result

Target is facing a nationwide backlash for its support of transgender rights.

Webmaster's Commentary: 

Okay, the economy is at the edge of a cliff, the US Government has invaded, regime-changed, or drone-struck 17 nations (that we know of) with more on the way, we are at risk of full-on nuclear war, vaccines are causing more harm than good, tap water is toxic, GMO food cause tumors, and the Democrats think that letting men use the women's restroom is the most important issue of the day?!?

May 16 08:56

Remote Village Employs Solar Power to Reach Where National Grid Cannot

By Brian Berletic

Solar power systems allow electricity to be produced virtually anywhere the sun’s rays reach whether it is in space or in a remote island village otherwise disconnected from national power grids. With costs dropping and the capability of these systems rising, along with an ever-growing community of people able to design and set up solar-powered systems, it can reach out and light up places technically, economically, and even politically where other sources of power cannot.

A remote village on the Thai island of Phuket has been in energy limbo for quite some time...

May 16 08:52

"Seven Dead Babies a Day": Economic Collapse Has Turned Venezuelan Hospitals into the Worst Horror Film You Can Imagine

Here's how well socialism works.

Because there's no money for supplies like clean linens, soap, toilet paper, medical supplies like disposable gloves or even basics like a clean sheet of paper, let alone medicines such as intravenous solutions and antibiotics, and because the country is suffering rolling blackouts and money-saving government-imposed "holidays" that only leave people with two days of reliable electricity a week, the ill and wounded including newborn babies are dying left and right in Venezuela's crippled hospitals.

Here are just a few of the horrifying highlights.

(read more)

May 16 08:47

Trump Is Right On The Federal Debt

God help Donald Trump’s critics. The paroxysms they have after the mogul–turned–GOP nominee’s policy pronouncements can’t be good for their health.

The latest is a real hoot. For dealing with our enormous national debt, Trump wants to do what he does best: negotiate with creditors. How so? By pressuring bondholders to accept a haircut on their payments. And if they don’t like the terms? Well, they’ll get their money by hook or by crook.

May 16 08:42

FORGET ELON’S BATTERIES—FIX THE GRID WITH A ROCK-FILLED TRAIN ON A HILL

The most “duh” approach to energy storage is very big batteries like the ones Elon Musk peddles, which are poised to become a lot cheaper in the next five years. Pumped hydroelectric facilities are another option. Or you can move compressed air around underground caves. But none of these options has emerged as the best way to fix the grid.

Then there’s rail energy storage, which is about to get its grand debut. In April, the Bureau of Land Management approved an ARES—that’s Advanced Rail Energy Storage—project, conceived by a Santa Barbara-based energy startup called, well, ARES. By 2019, ARES operations head Francesca Cava says, the facility will occupy 106 acres in the excellently-named town of Pahrump, Nevada. By running a train up and down a hill, ARES can help utilities add to and subtract from the grid as needed.

Webmaster's Commentary: 

Cute idea. I wonder how efficient it is, i.e. for every kilowatt hour pumped in, what can you get back out?

May 16 08:40

Exclusive: Panama Papers Hub in Miami: Citigroup’s [Very] Private Bank

The Citigroup Private Bank at 201 South Biscayne Blvd. in Miami is located in a 34-story building in downtown Miami with breathtaking views of Biscayne Bay. It’s also the address for dozens of offshore companies whose agent is Mossack Fonseca, the law firm at the center of the Panama Papers scandal. The graph below shows just some of those companies, a number of which were incorporated as recently as 2013 through 2015.

May 16 08:39

Former Argentine president faces 20 years behind bars as she is indicted for 'defrauding her country out of $5BILLION'

Former Argentine President Cristina Fernandez de Kirchner was indicted on Friday for defrauding the state out of an alleged $5.2billion.

Federal judge Claudio Bonadio said a scheme to inflate the Argentine peso by selling the central bank's US dollars below market value would not have been possible without Fernandez's approval.

May 16 08:38

Hedge Funds Buy Silver As Silver Bullion Deficit Surges

Hedge funds have taken a record net-long silver position – CFTC data shows

– Precious metal surges 26% in 2016 on Fed, industrial & investment demand

– Cumulative global silver bullion deficit surges on revised data

May 16 08:36

The Fairest, Kindest Tax Reform

Thirty years have passed since America’s last major tax reform, and any attempt at an encore will face huge policy and political hurdles. That was the blunt overview from Jason Furman, chairman of President Obama’s Council of Economic Advisors, in a speech early this year.

May 16 08:34

U.S Navy Finally Takes Control Of Its Overpriced $4 Billion Warship

By Nicholas West

United States military spending continues to prove its staggering mismanagement as multi-billion dollar contracts are issued and high-tech products are finalized; while cost-overruns, program shutdowns, and outright tech failures continue to be documented...

May 16 08:26

Defense Bill Coming This Week: A Boost for War and Tyranny

For many of us concerned with liberty, the letters "NDAA" have come to symbolize Washington's ongoing effort to undermine the US Constitution in the pursuit of constant war overseas. It was the National Defense Authorization Act (NDAA) for 2012 that introduced into law the idea that American citizens could be indefinitely detained without warrant or charge if a government bureaucrat decides they had assisted al-Qaeda or "associated forces that are engaged in hostilities against the United States." No charges, no trial, just disappeared Americans.

The National Defense Authorization bill should be a Congressional mechanism to bind the president to spend national defense money in the way Congress wishes. It is the nuts and bolts of the defense budget and as such is an important oversight tool preventing the imperial executive from treating the military as his own private army. Unfortunately that is no longer the case these days.

May 16 07:51

Interest On The National Debt Will Soon Hit $1 Trillion Per Year

Very good breakdown of the numbers...

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May 16 07:48

Uncomfortable Truths About Banking and Money

Regarding the United States, the U.K., Europe, and Japan IT IS COMFORTING TO BELIEVE:

Debt has increased exponentially for decades, and in the case of the US, for over 100 years. It has worked so far, so we want to believe it will continue for the foreseeable future.

Our governments act as if they believe we can borrow ourselves out of debt, spend our way into prosperity, and pretend and extend indefinitely.

Every major country has a central bank, so it is comforting to believe they are needed.

It is comforting to believe that gold is unnecessary. As per Warren Buffett, we dig it from the ground, and then store it in a vault, where it sits.

These may be common and comfortable beliefs but they are all incorrect, and will be proven false in coming years.

May 16 07:45

Lloyds online banking goes TITSUP*

Customers of Lloyds have been unable to access online banking since 10am this morning,

Website monitoring site DownDetector received more than 1,500 reports since 10:05 this morning. The Lloyds Banking website currently says: "An error occurred while processing your request."

Lloyds told users on Twitter: "We're aware of an issue for some customers when trying to access our site. We're working to resolve this ASAP."

May 16 07:40

Uncomfortable Truths About Banking and Money

May 16 07:39

Why Set Up A Shell Company In Panama? The Psychology Driving Illicit Financial Flows

A previously little-known law firm called Mossack Fonseca, based in Panama, has recently been exposed as one of the world’s major creators of ‘shell companies’, that is, corporate structures that can be used to hide the ownership of assets. This can be done legally but shell companies of this nature are widely used for illegal purposes such as tax evasion and money laundering of proceeds from criminal activity. See ‘Giant Leak of Offshore Financial Records Exposes Global Array of Crime and Corruption: The Panama Papers’.

May 16 07:14

World Economy Melting Down

May 15 21:46

The Debt Offensive

I wish there were another way for the Treasury to honor its obligations. But I don’t see it. We’re all gonna feel the pain when Uncle Sam’s checks bounce. Trump is right: We might as well spread the hurt around.

May 15 17:17

Claims Tax Havens ‘Distorting’ Global Economy, And Britain Controls One-Third Of Them

Tax havens “serve no useful economic purpose,” a group of 300 leading economists has said in a letter urging world leaders to bolster financial transparency ahead of London’s anti-corruption summit this week.

The letter, coordinated by Oxfam, suggests the UK is “uniquely placed” to reduce global corruption because it has sovereignty over a third of the world’s tax havens.

May 15 17:12

As the Economy Goes Down the Toilet…

May I ask you a question? How’s this great economic recovery working out for you? It’s really affected the cardboard recycling market adversely, did you know that? Because everyone is raiding the cardboard recycling bins to get cardboard to make signs that say: “Hungry, please help” and “Spare change, anything will help”. Yeah, great economic recovery! If we recover any more, we’ll be asking the UN for food drops here.

May 15 17:01

We All Pay For Low Wages

When you are paid starvation wages, it’s up to public-assistance programs to make up the difference. That government assistance, costing treasuries billions of dollars per year, is part of the high cost of low wages.

May 15 14:21

Selected not Elected — Rothschilds Hold $100,000 a Plate Dinner Fundraiser for Guess Who

Providing even more proof that she is simply a puppet for the ruling oligarchy, on Thursday, Hillary Clinton attended a $100, 000-a-head fundraiser hosted by none other than Lynn Forester de Rothschild, a prominent New York businesswoman, and supporter of Mrs. Clinton. The Rothschild banking dynasty is a family line that has been accused of pulling the political strings of many different governments through their control of various economic systems throughout the world. Historically, there is ample evidence to prove that the family has used its vast fortune to control the political apparatus of numerous nations throughout history, toppling regimes and bringing entire economies to their knees.

May 15 12:04

The SWIFT System: A Potential Weapon in the Hybrid War

The SWIFT system has often been targeted by hackers trying to break into databases and divert money from the accounts of the society’s member banks. Several attempts at security breaches have been documented in just the last few days. In early March, the central bank of Bangladesh reported the disappearance of $81 million of its foreign-exchange reserves [1]. This had gone unnoticed by the IT services at SWIFT and the central bank. An investigation revealed that the hardware and software used to process the central bank’s payment operations left much to be desired. The cyber intruders also turned out to have advanced technical skills. They did not expect the facts of the theft to come to light immediately and assumed that they would have time to either move their spoils somewhere safe or to launder the money.

May 15 11:23

Stock Options Traders Easily Spooked

May 15 08:58

Boris Johnson: The EU wants a superstate, just as Hitler did

The European Union is pursuing a similar goal to Hitler in trying to create a powerful superstate, Boris Johnson says.

In a dramatic interview with the Telegraph, he warns that while bureaucrats in Brussels are using “different methods” from the Nazi dictator, they share the aim of unifying Europe under one “authority”.

But the EU’s “disastrous” failures have fuelled tensions between member states and allowed Germany to grow in power, “take over” the Italian economy and “destroy” Greece, he warns.

Napoleon, Hitler, various people tried this out, and it ends tragically. The EU is an attempt to do this by different methods.

Mr Johnson invokes Winston Churchill’s war-time defiance, urging the British people to be “the heroes of Europe” again, set the country free and save the EU from itself by voting to leave in the referendum next month.

Webmaster's Commentary: 

The man is absolutely correct in his assessment; this is why we are looking at a potential brexit, frexit, and grexit.

May 15 08:41

VERIZON CALLS IN SWAT TEAM TO KEEP EXPLOITED OVERSEAS WORKERS UNDER WRAPS

Representatives from the Communications Workers of America (CWA), the union whose members are currently engaged in a weeks-long strike against Verizon for its "corporate greed," say they discovered this week that the communications behemoth has publicly lied about the extent of its offshoring of jobs.

"When our members uncovered how Verizon is padding its incredible profit margins by replacing good paying American jobs with poverty-wage jobs abroad, Verizon sent armed guards and a SWAT team after them."
—CWA President Chris Shelton

May 15 08:18

Six Reasons Why Goldman Is Suddenly Warning About A "Large Drop" In The Market

After recent (and in some cases very dramatic) bearish conversions by the likes of JPM, BofA, Citi and UBS, the only bank that steadfastly held a bullish view on stocks during the recent market squeeze higher was Goldman Sachs.

Not any more.

May 15 08:16

For The American Farmer "It's Death By A 1,000 Knives”- US Farmland Values Plunge Most In 30 Years

Not so long ago, US farmland - whose prices were until recently rising exponentially - was considered by many to be the next asset bubble. Then, exactly one year ago, the fairytale officially ended, and as reported in February, US farmland saw its first price drop since 1986. It was also about a year ago when looking ahead, very few bankers expected price appreciation and more than a quarter of survey respondents expect cropland values to continue declining.

They were right.

May 15 06:06

Inequality: Why are the rich getting richer?

May 15 05:57

Is The Oil Rally Getting Clogged Up?

May 15 05:21

Wendy’s replacing workers with kiosks in response to ‘fight for $15’

In response to recent minimum wage hikes, Wendy’s is now replacing fast food workers with robots.

May 14 22:35

#NVDemConvention Results Reported Hours Before Vote #NV64


Somehow hours before the vote happened final results were reported by the APP on a local Nevada news sure. Official results have Bernie losing by 31 votes yet at the end of the official vote a petition signed by 64 saying their vote was denied was presented, only be told to present their complaint at the #DNC

May 14 19:47

COMEDY: Seth Myers Annihilates Goldman Sachs

Saturday Night Comedy

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May 14 19:20

#NVDemConvention Results Reported Hours Before Vote #NV64

Some how hours before the Nevada Democratic Convention vote actually happened, the final result of the vote were somehow reported by the AP via local Nevada news station.

How does a news outlet report final vote results hours before the actual vote occurs?

Adding to the scandal, the official vote has Hillary Clinton winning by 31 votes, but after the vote was conducted a petition was presented with the signature of 64 Bernie Sander supporters saying they were suppressed from being allowed to vote. The response to the petition was to tell the voters to present their complaint at the Democratic National Convention in Philadelphia.

May 14 16:10

UN: Growth in world economy remains weak

May 14 15:43

Steve Forbes and Tom on Financial Meltdown

May 14 14:44

Real Change Only Comes When Millions Unite and Fight Back

Why is it in America we massive level of wealth and income inequality? Why is it that I am working longer hours at lower wages and the wealth is going to the top 1%? Why is it that middle class has been disappearing for over 30 years? Why are we the only major country on earth that doesn't provide paid family and medical leave? That doesn't provide healthcare for all people? Why do we have the highest rate of childhood poverty in the world? Why are out inner cities and infrastructure throughout this country collapsing?

Why? People are beginning to catch on. Once you start asking those questions and once you get involved politically what seems so hard yesterday will not be so hard tomorrow.

The same thing with all of the other struggles for workers rights, for civil rights, for women's rights , for gay rights... what we are fighting for a country and a government that works for all of us and not just the one 1%.

May 14 13:30

Bernie Energy Plan Transition's Fossil Fuel Workers While Going Green

Bernie's energy plan will put 80 billion dollars into migrating fossil fuel workers and will transition the US into a true green energy future. The plan will be paid for by implementing polluter's tax on dirty fossil fuels.

May 14 13:25

Why Do We Spend Trillions On War And Not On America

Bernie talks about inner city voters asking why we have spent trillions on war but fail to rebuild our nations infrastructure.

May 14 13:21

Bernie: #FreeCollege Should Be A Right - We Need A Revolution

Bernie Sanders explains that providing free public college is not a radical idea. Instead it is an idea whose time will come and it is our job to make it come sooner rather than later.

But how will it be paid for? A few years ago Wall Street drove this country to the worse economic recession since the great depression.

Wall street is doing just fine today and taxing their speculation that caused the Financial Collapse of #2008 would bring in more than enough money to provide free public college to everyone and help massively reduce current student debt.

May 14 13:09

Bernie: Universal Healthcare Is a Fundamental Human Right

Bernie Sanders explains that like FDR he believes that our country does not go far enough in protecting basic human rights. He explains how his universal healthcare plan will give everyone the right to go to the doctor without having to worry about having insurance or deductibles. He also outlines how his plan will put an end to Big Pharma charging Americans the highest costs on the planet for prescriptions and other medications

May 14 12:37

Second Bank Hit By Major Cyber Heist

May 14 10:56

Scenes From The Venezuela Apocalypse: "Countless Wounded" After 5,000 Loot Supermarket Looking For Food

Over the last several years we have documented with clockwork regularity Venezuela's collapse into failed state status, which was cemented several weeks ago when news hit that "Venezuela had officially run out of money to print new money." At that point the best one could do was merely to step back and watch as local society and civilization turned on itself, unleashing what would ultimately turn into Venezuela's own, sad apocalypse.

As we wrote then these are simply hungry Venezuelans protesting that their children are dying from lack of food and medicine and that they do not have enough water or electricity. As AgainstCronyCapitalism added, this is a country with more oil than Saudi Arabia, and the government has stolen all the money and now they bottleneck peaceful protesters and threaten them with bombs (or haul them to prison and torture them).

Webmaster's Commentary: 

Unfortunately, economic mismanagement, coupled with US sanctions, and a strong appetite to bring down what had been a reasonably functional socialist country in South America, which committed the unforgivable sin of selling its oil in other currencies than the US dollars, are all converging on Venezuela simultaneously.

Watch, in the not to distant future, for the Maduro government to fall, and be replaced by a more US-Centric, right-wing government, which, at the end of the day, will bring no more help or comfort to its people than did the present government.

May 14 10:50

The United States of Indebted Students

May 14 10:43

America Threatens Russia: US-NATO Forces “Moving from a Training to a War Fighting Stance”

In a report published in the American journal, National Security News, on May 9th, the day of the celebration of the victory of Soviet and allied forces over the fascist forces in 1945, it was stated that, “in terms of the eastern threat-which is a reference to Russia-EUCOM (the American Forces European Command) will be moving from a training to a war fighting stance.”

The article continues, “this does not mean that the U.S. is planning a war with Russia, merely that it will shift its force structure in a manner aimed at deterring Moscow and defending NATO and European partners should Russian President Vladimir Putin attempt what he has done in Ukraine.”

Webmaster's Commentary: 

It is not a question of if, but when, such a war will happen, and President Obama seems hell-bent that it happen under his watch.

Why, and why in an election year?!?

First, because the American economy is close to an absolute, total collapse, and Obama wants a war with which to mask the real reasons for such a collapse, which is lousy Federal economic policy.

Secondly, out of spite, if Trump should win the election, Obama wants to simultaneously hand him the two worst scenarios with which any new President of this country could possibly contend; an economic depression, coupled with a war with Russia, from which he cannot readily disentangle.

May 14 09:55

Sen. Sessions: Election offers a simple choice

For the first time in a long time, this November will give Americans a clear choice on perhaps the most important issue facing our country and our civilization: whether we remain a nation-state that serves its own people, or whether we slide irrevocably toward a soulless globalism that treats humans as interchangeable widgets in the world market.

In Donald Trump, we have a forceful advocate for America. Trump has said that our trade, immigration and foreign policies must be changed to protect the interests of American workers and our nation.

In Hillary Clinton, we have a committed globalist. Clinton was an ardent supporter of the Trans-Pacific Partnership — which surrenders American sovereignty to an international union of 12 countries — and has clearly left the door wide open to enacting the pact if elected.

May 14 09:44

$15 or bust... BUSTED! Wendy's says "You got what you wanted, now find a job elsewhere."

I think I will find my next cheeseburger elsewhere.

May 14 09:39

The Vultures’ Vultures: How A New Hedge-Fund Strategy Is Corrupting Washington

A Harvard-trained political economist, Shapiro is the head of a consulting firm called Sonecon. That business card doesn’t do it for you? He’s got a few more in his wallet:

Senior fellow at the Georgetown University School of Business.

Adviser to the International Monetary Fund.

Director of the Globalization Initiative at NDN, a progressive think tank.

Shapiro, it turns out, is but one foot soldier in the hedge fund infantry. A review of public documents, tax filings and interviews with people involved finds that in each of the three campaigns, hedge funds have enlisted the same set of lobbyists, political operatives, dark money groups and think-tank experts spanning the political spectrum.

Webmaster's Commentary: 

There is one thing one can safely say about the managers of these vulture capitalism hedge funds; they have collectively had their consciences surgically removed before accepting their jobs.

May 14 09:19

Banker implicated in one of history's biggest frauds says boss beat him with a tiny baseball bat

Jonathan Mathew is one of the bankers at Barclays who participated in the Libor rigging fraud, which cost people all over the world trillions of dollars in higher payments on mortgages, government bonds, student loans, and other assets totalling $350 trillion.

May 14 09:10

PEW RESEARCH STUDY – THE AMERICAN MIDDLE CLASS DECLINED IN 90% OF METRO AREAS FROM 2000-2014

When you bail out financial criminals and predators, you get a criminal and predatory economy. If there’s one clear lesson from the 2008 crisis and its aftermath, that should be it.

It’s what I like to call the Hunger Games economy. You’re thrown into the woods with a diminishing capacity to work hard and earn a middle income, and if you fail to enter the upper echelons you’ll be reduced to poverty. The result is insecurity, stress and ultimately resentment, which before too long bubbles to the surface in all sorts of unwelcome ways. A strong and vibrant middle class has always provided a buffer to truly nasty civil unrest and revolution in these United States. As it goes extinct, the probability of those things rises exponentially.

This correlation between a thriving middle class and lower levels of income inequality is the most significant takeaway from the study.

Webmaster's Commentary: 

Ah, but those in power have always despised the middle class in this country because it was from the middle class where protest movements have arisen.

So, in both the Bush and Obama administrations, offshoring/outsourcing of jobs that used to be the backbone of what used to be a thriving American middle has continued, with a vengeance; please remember that this was not accidental, but an unspoken Federal policy, to appease those corporations which bought, and controlled, both administrations.

It is just that simple.

May 14 08:47

BEX ALERT - Why It's a Big Deal Hillary Clinton Plans to Shake Up the Fed

Hillary Clinton is taking on the United States Federal Reserve System, but in a wonky, bottom's-up way that shows her understanding of a complex and widely misunderstood organization. This is not "End the Fed" or even "audit the Fed" — she wants to rebuild it from its fundamentals at the regional level.

Webmaster's Commentary: 

The problem with the Federal Reserve (which is no more "Federal" than Federal Express) is that by design, it creates more debt than money with which to pay the debt, so the debt grows without restraint until it impoverishes the nation and transfers all the real assets from the people to the owners of the Fed. The owners of the federal Reserve know that ink and paper, or numbers typed in a computer, have no real worth. The real value is in that debt obligation which gives the bankers control over nations and people.

All private central banks, without exception, operate this way, which is why all nations enslaved to private central banks are deep in debt and hovering at the edge of collapse.

"Reforming" the Fed won't really change anything, and Hillary (who has had millions showered on her by Wall Street) knows this.

Private Central Banking is still a system of rule by compound interest, and it is no more legitimate a form of governance than rule by divine right or rule by slavery, and like those former failed systems only prevails as long as people are brainwashed into thinking this is the way the world is supposed to be.

The only way to correct the present situation is to abolish private central banks and return to a system where the public currency is managed as a public utility, not as a private-for-profit system of organized looting.

May 14 08:29

Endgame, NIRP, and Central Bank Wars

May 14 07:59

Worst IPO Ever: US DOLLAR

May 14 06:12

Silver — the monetary safety net

Over the past several months Louis Cammarosano, Smaulgld, and myself have been conducting bi-weekly precious metals market updates alternating between what the mints report and what sovereign nations are reporting. It seems you all are enjoying this series and this weeks is no different.

We dive into the numbers reported by the mints, mainly the top four to six, and liven it up the conversation with other information as well. During this particular show Louis has taken the top six mints, combined their monthly total and deliver some numbers that are mind-blowing.

May 13 22:54

Trying to donate $250 to WRH and paypal is making me jump through crazy hoops

This is crazy. I use my PayPal somewhat frequently without issue.

All of the sudden I decide to WRH and they I get prompted for my security my password needs to be changed, honestly the message said because "We are looking out for you."

So I am forced to changed my password, go through the email verification steps, secret questions, etc and reset my password.

Not done yet, got to donate again. And get a message I need to fund my papal account before I can continue. No, I don't fund my account it's linked and pays on demand from my bank account if and when I authorize it. Clear my browser, restart my PC, same message.

May 13 18:43

Rothschild Bank Now Under Criminal Investigation Over Missing $4 Billion in Global Corruption Probe

By Jay Syrmopoulos

Last year the veil of invincibility seemingly came off the secretive Rothschild banking empire, as Baron David de Rothschild and his company the Rothschild Financial Services Group were indicted by French prosecutors for allegedly defrauding British pensioners in a scheme that saw large sums of money embezzled.

Only two months ago, we reported on the Swiss branch of the Edmond de Rothschild Group announcing that they were the target of a French criminal probe “regarding a business relationship managed by a former employee.”

Now, the Luxembourg unit of Rothschild banking empire is being investigated by the Luxembourg state prosecutors office — alleged to have sent hundreds of millions of dollars to an account at a bank in Luxembourg that originated from 1Malaysia Development Berhad (1MDB)...

May 13 16:30

What Can Gold Do For Our Money?

By Stefan Gleason

One of the chief virtues of a gold standard is that it serves as a restraint on the growth of money and credit. It makes runaway government deficit spending and major monetary catastrophes such as hyperinflation practically impossible.

Opponents of a gold standard can’t defend the political malpractices that are enabled by a fiat currency regime. So instead they spin a narrative about how gold supposedly hampers the economy.

According to Keynesian economics, spending boosts the economy while savings contracts it...

May 13 15:24

The Frogs Are Boiling Again—–Why Wall Street Stays In The Pot

Here’s the problem. When General (Paul) Ryan gets together in the oval office with either Hillbama or the Donald next February the budget projections will already be deep in trillion dollar deficits under current policy. Therefore, what will get stimulated, if anything, is a colossal political firestorm over who bankrupted the nation. There will not be another fiscal stimulus this go round. This time, the frogs of Wall Street will be left to boil.

May 13 15:15

Piece of the action

Piece of the Action Star Trek Episode.
The way things are going we wont have any action for Bela to get a piece of.

May 13 14:52

Partially paralysed man with part of his head missing told he is 'fit for work' by government

A partially paralysed man with part of his head missing has been told he is fit for work by the government.

Kenny Bailey, who is waiting to have a metal plate inserted to reshape his skull and protect his brain, had his benefits slashed this week.

The father of two suffered a massive stroke, leaving him paralysed down one side of his body, and with severe memory problems.

An ambulance was delayed in getting to him, with a third of his skull removed to ease pressure on his brain.

But the Dept of Work Pensions cut his employment and support allowance - which he uses to pay his bills - following a medical examination.

He has lost £156 per fortnight, and will get £470 every four weeks, his Personal Independent Payment.

May 13 14:51

Rothschild Bank Now Under Criminal Investigation Over Missing $4 Billion in Global Corruption Probe

Last year the veil of invincibility seemingly came off the secretive Rothschild banking empire, as Baron David de Rothschild and his company the Rothschild Financial Services Group were indicted by French prosecutors for allegedly defrauding British pensioners in a scheme that saw large sums of money embezzled.

Now, the Luxembourg unit of Rothschild banking empire is being investigated by the Luxembourg state prosecutors office — alleged to have sent hundreds of millions of dollars to an account at a bank in Luxembourg that originated from 1Malaysia Development Berhad (1MDB).

May 13 12:09

Colorado "sugar babies" use online dating to cover soaring tuition

After taking her on a shopping spree at Cherry Creek mall, the 62-year-old man sporting a gray suit bought a Starbucks cake pop for Vanessa, 23, and left the mall alone.

Vanessa, who did not want her full name used for privacy reasons, describes herself as a "sugar baby" — part of a growing population of primarily college women who are turning to men of means to make ends meet amid soaring expenses. The arrangement is nothing new, but increasing tuition and student-loan debt paired with the ease of joining a site that facilitates these relationships are contributing to an increase of Colorado sugar baby relationships.

"I was picking up shifts left and right," said Vanessa, whose two steady sugar daddies ensure her nursing school externships don't overwhelm her. "With the sugar daddies' help, I've been able to cut down on that to focus on school."

Webmaster's Commentary: 

This is what happens when money-junkies decide that education should be less about education and more about making themselves richer than they already are! This makes Sanders' call for more education subsidies seem like a really great idea!

May 13 12:05

Signals From Gold and the S&P

May 13 11:52

“Inevitable Taxpayer-Funded Bailout” As Angry Teamsters Watch Their Pensions Go Bankrupt

Over the past few months, we have covered the unfolding saga (here and here) of the Central States Pension Fund, which handles retirement benefits for current and former Teamster union truck drivers across various states including Texas, Michigan, Wisconsin, Missouri, New York, and Minnesota, and is one of the largest pension funds in the nation, all the way through Kenneth Feinberg’s rejection of the proposal to cut benefits on behalf of the Treasury.

When the proposal was rejected, we said that the final resolution will be in the form of an inevitable taxpayer-funded bailout

If the Treasury won’t allow any pension cuts, and the government created safety net won’t be there to keep the benefits flowing, how will the cash continue to flow to members? With the precedent now set by the Treasury that no cuts will be allowed, the answer will likely come in the form of a massive bailout.

Webmaster's Commentary: 

One has to wonder; just how many more "bailouts", on the backs of American taxpayers, will it take to get Americans angry enough to give every member of Congress a permanent pink slip, guaranteeing things like pension funds are scrupulously regulated, and cannot be stolen from?!?

May 13 11:45

China's Credit Growth Grinds To A Screeching Halt: Why This Is Very Important

Last night, when previewing the most important macro event of the day - far more important than US retail sales which predictably tried to refute the gloomy reality reported by actual retailer CEOs - namely China's monthly loan creation number, we said that "according to MarketNews, Chinese bank loan growth is expected to slow sharply in April compared with March as the pillar of bank lending, mortgage loans, slowed as the property market cooled." Citing bank officials, MNI said that combined new loans in April by the Big Four state-owned banks were more than halved from March's level.

Webmaster's Commentary: 

Around the world, the economy is stuttering to an absolute lockup.

May 13 11:25

Report: Wendy’s to Roll Out Self-Serve Kiosks by End of 2016, as Wage Increases Squeeze Fast Food Companies

Wendy’s fast food restaurant chain says it will begin offering self-serve kiosks at its 6,000-plus locations across America, making them available to costumers by the end of 2016.

The fast food giant’s decision to move toward automation comes just as “Fight for $15”–a progressive protest movement, pushing minimum wage hikes–is applying pressure on state governments to raise wages for low-skilled fast food workers.

Last August, Wendy’s CFO Todd Penegor told investors that mandated wage hikes will cause his company to pursue other innovative avenues that could lead to fewer jobs for low-skill workers.

“We continue to look at initiatives and how we work to offset any impacts of future wage inflation through technology initiatives, whether that’s customer self-order kiosks, whether that’s automating more in the back of the house in the restaurant,” Penegor said, adding that “you’ll see a lot more coming on that front later this year from us.”

Webmaster's Commentary: 

That the "Fight for $15" folks didn't see this coming, as the only reasonable response from corporations employing low-skilled workers, absolutely amazes me.

May 13 11:16

Detroit, Deprived of Life Sustaining Water: UN Investigates Human Rights Violations

Usually crimes against humanity take place behind closed doors, in concentration camps, Abu Ghraib-like torture settings or Nazi Germany; not so in 83% Black Detroit, Michigan. In the next few weeks, the international community will witness with eyes wide open the city of Detroit’s blatant violations of human rights. These crimes will be condoned and executed by Detroit officials with the full knowledge of the White House.

Access to water is considered a human right and access to safe and clean water is a core mission of the Environmental Protection Agency (EPA), however, 40% of the residents of Detroit will be deprived of the basic element of life: water. Children will go to school without baths and senior citizens will be deprived of water to take medicine. Having lost confidence in a US national commitment to saving the lives of citizens, advocacy groups have begun to petition the United Nations for an emergency response.

Webmaster's Commentary: 

So, let me get this straight; access to clean water for Detroit citizens has become so awful that the UN has had to be brought in to investigate this issue?!?

Absoflippinglutely unbelievable!!

And shame on Mayor Duggan, and the City Council of Detroit, for allowing the situation to get to this point!!

May 13 10:51

No apology, no rebate! Chelsea Clinton's contemptuous husband Marc Mezvinsky has ‘nothing to say’ to his investors (some Hillary contributors) despite losing 90 percent of their millions

Chelsea Clinton's hedge fund boss husband has refused to apologize to investors - despite losing nearly $25 million in a calamitous gamble on the Greek economy.

Marc Mezvinsky, 38, persuaded clients to pour cash into the struggling European country in the hope it would bounce back and deliver massive profits. But after buying up government debt and bank stock, the dramatic upturn he and his partners predicted failed to materialize and the fund's value plunged by an estimated 90 percent.

Mezvinsky and former Goldman Sachs colleagues Bennett Grau and Mark Mallon are reported to have finally pulled the plug on the failed investment last month.

May 13 10:15

SWIFT SAYS SECOND BANK HIT BY MALWARE ATTACK

SWIFT, the global financial messaging network that banks use to move billions of dollars every day, warned on Thursday of a second malware attack similar to the one that led to February's $81 million cyberheist at the Bangladesh central bank.

The second case targeted a commercial bank, SWIFT spokeswoman Natasha de Teran said, without naming it.

SWIFT said in a statement that the attackers exhibited a "deep and sophisticated knowledge of specific operational controls" at targeted banks and may have been aided by "malicious insiders or cyber attacks, or a combination of both."

The organisation, a Belgian co-operative owned by member banks, said that forensic experts believe the second case showed that the Bangladesh heist "was not a single occurrence, but part of a wider and highly adaptive campaign targeting banks."

Webmaster's Commentary: 

I have to wonder if the US and the world is being "groomed" for a "cyber 9/11", with these attacks.

May 13 10:14

Here Come A Lot Of Angry Teamsters: One Of America's Largest Pension Funds Demands A Taxpayer Bailout

Over the past few months, we have covered the unfolding saga (here and here) of the Central States Pension Fund, which handles retirement benefits for current and former Teamster union truck drivers across various states including Texas, Michigan, Wisconsin, Missouri, New York, and Minnesota, and is one of the largest pension funds in the nation, all the way through Kenneth Feinberg's rejection of the proposal to cut benefits on behalf of the Treasury.

May 13 09:35

Central Banks Panic Buy Gold

May 13 09:32

U.S. Economy: Job Numbers a Blunt Reality Check for America

The number of Americans filing for unemployment rose last week to a 14-month high. This coupled with weak April U.S. job numbers should have most analysts questioning the health of the labor market and, more broadly, the sustainable long-term strength of the long-suffering bull market. One industry that has been feeling the brunt of the fragile U.S. economy is the retail industry. And by the looks of things, better times are a long, long way away.

May 13 08:46

Another Major Retailer Reports Weak Sales

May 13 07:30

Scaremongering: Leaving EU could lead to recession in UK: Bank of England

The Bank of England has issued an unprecedented warning over next month’s EU referendum, saying that Britain could fall into recession in the aftermath of a vote to withdraw from the European Union.

May 13 07:24

A High-ly Unusual Breadth Milestone

May 13 05:21

Gold: Is It 2011 All Over Again?

May 12 18:40

JANET YELLEN: I won't completely rule out negative interest rates

Federal Reserve Chair Janet Yellen will not rule out the Fed using negative interest rates.

May 12 18:34

Deustche Bank Brokers Jailed In Biggest Insider Trading Bust Ever

Two former Deutsche Bank corporate brokers have been sentenced to one of the longest prison terms possible for the crime of insider trading in the UK. As US financial market participants walk free in the streets managing their own “home office” money, Martyn Dodgson and Andrew Hind will be rotting in a Wandsworth prison cell (among the worst reputed of England’s prisons) for up to four and half years for what the judge called “persistent, prolonged and deliberately dishonest behavior.” As Bloomberg reports, the group, including three other defendants, formed part of the FCA’s biggest insider-trading investigation dubbed Operation Tabernula.

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