ECONOMY | WHAT REALLY HAPPENED


ECONOMY

Jun 14 12:10

CHAOS ERUPTS IN PARIS AS RIOT POLICE UNLEASH ON 50,000-STRONG LABOR PROTEST

French police unleashed tear gas and water cannons on demonstrators Tuesday as tens of thousands packed the streets of Paris in an outpouring of opposition to the government's anti-labor agenda.

The CGT labor union, which helped organized the march, hoped Tuesday's mobilization would be the largest since protests launched over new labor standards, which allow employers to more easily fire workers and create precarious, lower paid positions in place of permanent contracts.

"I’ve been to all the demos since March because I want to live in dignity, not just survive," Aurelien Boukelmoune, a 26-year-old technician, told AFP in Paris. "I want the reforms to be withdrawn, pure and simple. Only then will it stop. For the government's sake, they should withdraw the law, otherwise we'll block the economy."

Jun 14 11:36

At least 40 injured, 58 arrested in Paris anti-labor reform protests – police

At least 40 people, including 29 officers, were injured as protesters against France’s highly unpopular proposed labor law clashed with police in Paris. Police made 58 arrests and deployed tear gas and water cannons against the demonstrators.

Twenty-nine officers and 11 rioters have been injured during clashes in the heart of the French capital, police said.

Security forces deployed six water cannons to calm the demonstrators, at least 58 of whom were detained.

Webmaster's Commentary: 

"You WILL love your slavery to the Private Central Banks!"

"You WILL love your slavery to the Private Central Banks!"

"You WILL love your slavery to the Private Central Banks!"

"You WILL love your slavery to the Private Central Banks!"

Jun 14 09:01

GOLDMAN SACHS BRIBED LIBYAN OFFICIALS WITH HOOKERS, PRIVATE JET RIDES, THEN LOST ALL THEIR MONEY

In 2006, western leaders decided that Gaddafi's oil was more important than his human rights record and complicity in terrorism and lifted sanctions against Libya, creating a massive pool of cash for the country that it turned into a sovereign wealth fund whose business was aggressively courted by Goldman Sachs.

Jun 14 08:51

German bonds go negative for first time as investors panic over surge in support for Brexit

Interest rates have fallen to record lows meaning investors are looking for safe havens to park their cash.

As investors flock to place money in German government 10-year bonds their price has risen

The bonds, which are considered a benchmark of financial security, known as Bunds, are now not paying any money back because demand is too high.

Today the Bund yielded minus 0.028 percent - meaning it was costing anyone who held the investment.

Jun 14 07:46

26 injured, 15 arrested in Paris anti-labor reform protests – police

At least 26 people have been injured as protesters against highly-unpopular labor reforms clashed with police in Paris. Officers deployed tear gas against “hooded hooligans,” while nearly 15 people were arrested, police said.
Tens of thousands of people gathered in the center of the French capital on Tuesday, BFMTV reported.

Clashes took place near Port Royal railway station in Paris. Dozens of people, mostly hooded, threw stones and firecrackers at the security forces, who responded with force to disperse the demonstration.

Several people were injured in the clashes. Pictures on social media showed emergency services evacuating the injured.

Webmaster's Commentary: 

"Labor reform" is just "Austerity" in a new wrapper. The message is still the same. "Work harder, give us more money, and don't expect anything in return!"

It's time to update an old reliable tool!


Jun 14 07:15

'BREXIT TSUNAMI' UK exit would cause 'BIG problems' for GERMAN banks, watchdog warns

If Britain votes out of Europe, Germany's biggest banks would suffer a huge hit that would shake the eurozone's financial system to its core, a top policymaker in Frankfurt has admitted.

Jun 14 07:02

A myopic view of Negative Interest Rates

Jun 14 05:24

Tyranny Of The PhDs

Jun 13 18:48

Historic East Cleveland, Ohio: A City In Decline Faces Bankruptcy

Cleveland, the second largest city in the Midwestern state of Ohio, is celebrating the upcoming Republican National Convention as a symbol of the city’s rebirth. In the words of Jon Pinney, general counsel and treasurer of the 2016 RNC Host Committee, the goal is “to reintroduce the city to the world.” The host committee is hoping for an economic bounce of $200 to $400 million from the convention.

Jun 13 18:21

Different Tax Rules For Wealthy And Powerful

Brian Mulroney will surely be best remembered for the suitcase full of thousand dollar bills he received in a New York hotel room.

The riveting image of the former prime minister accepting wads of cash from a notorious lobbyist — admitted by Mulroney under cross-examination at a 2009 public inquiry — was so eye-popping that it completely eclipsed another fascinating aspect of the story: the sweetheart tax deal Mulroney got from the Canada Revenue Agency after he failed to report the cash.

Jun 13 16:44

The Treasury 'grossly exaggerated' the economic and financial impact of Brexit, says academic review - and Cameron and Osborne are 'treating us like children'

Most economic modelling has found that a Brexit vote in the June 23 referendum would make little difference to Britain's economy, the study by the influential Cass Business School concluded.

It said the Government had ignored waves of research in favour of publishing 'highly prejudiced' reports warning the UK would be poorer by £4,300 per household by 2030 and be hit by an immediate recession.

And in a damning verdict on George Osborne's approach to the referendum campaign, author Dr David Blake, a professor of Pension Economics at Cass Business School at City University London, accused the Treasury of becoming a 'propoganda machine' for the EU.

Jun 13 16:21

EVERYTHING BUBBLE

Jun 13 15:45

False flag, blow-back, or incompetence? A FOREX look at Orlando Shooting

This tragic event in Orlando is an opportunity to connect the dots in an ever simple global world; as explained in Splitting Pennies - key to understanding Forex markets and how our global financial system includes understanding international politics, and specifically US foreign policy, and how it is connected to the US Dollar as a world reserve currency. Forex is information brokerage, both as a facilitator and as primary emission of that information. It is by itself, information - as well, those who play 'the great game' use it to execute their strategem.

Jun 13 15:13

Bond Yields Fall As Fears Rise Over Global Economic Growth

Amid rising concerns over global economic growth, global bond prices surged to a record high on Friday in a “flight to safety” as equity markets in Japan and Europe experienced their worst day since the turbulence at the start of the year.

Jun 13 15:04

Trading the Platinum to Gold Ratio

Jun 13 14:57

George Soros Is Preparing For Economic Collapse – Does He Know Something That You Don’t?

Why is George Soros selling stocks, buying gold and making “a series of big, bearish investments”? If things stay relatively stable like they are right now, these moves will likely cost George Soros a tremendous amount of money. But if a major financial crisis is imminent, he stands to make obscene returns. So does George Soros know something that the rest of us do not? Could it be possible that he has spent too much time reading websites such as The Economic Collapse Blog? What are we to make of all of this?

Jun 13 14:43

Stop the Monsanto Doctrine from Poisoning Democracy and Hawaii - Sign the petition

On June 15 a panel of federal judges from the Ninth Circuit Court will meet in Honolulu to hear oral arguments from four important cases that may result in the environmental equivalent of a Citizens United decision.

The appellate court will either uphold or overturn four recent decisions by the lower federal District Court in Hawaii that invalidated the power of county governments to enact laws that protect public health and the environment.

I support the democratic right, and responsibility, of these local governments to protect the people of Hawaii from the impact of hundreds of experimental agrochemical farms across the islands that currently spray huge quantities of hazardous pesticides on genetically modified seed crops.

In cases involving the islands of Kauai and Hawaii a federal judge struck down local government laws that would have required buffer zones to prevent pesticide spraying near schools, and open air genetic engineering experiments that were seen as threatening to local organic agriculture.

Jun 13 14:42

CHART: The next big move in oil is coming

Jun 13 14:28

Tariq Ali: Global Revolt Against Corporate Capitalism & Inequality – ‘On Contact’ With Chris Hedges

In the first episode of ‘On Contact’, host Chris Hedges discusses the global revolt against corporate capitalism with radical intellectual and author Tariq Ali.

Jun 13 13:51

Billionaire George Soros Preparing For Economic Collapse: “Trading Moves Big and Bearish”

Is there really a great collapse coming, and a more permanent shift to Americans and westerners becoming more like serfs?

Why is George Soros selling stocks, buying gold and making “a series of big, bearish investments”? If things stay relatively stable like they are right now, these moves will likely cost George Soros a tremendous amount of money. But if a major financial crisis is imminent, he stands to make obscene returns. So does George Soros know something that the rest of us do not?

[...] Mr. Soros also argues that there remains a good chance the European Union will collapse under the weight of the migration crisis, continuing challenges in Greece and a potential exit by the United Kingdom from the EU.

Read more at SHTFplan.com

Jun 13 13:35

ECB QE Doing Opposite of Objective

Jun 13 11:25

Market Fails To Breakout—–What Next?

Jun 13 08:48

Violent Riots And Looting Are Now A Daily Occurrence In Venezuela

Last month we reported that citizens in Venezuela had finally become so desperate for food that angry mobs flooded the streets and looted all of the supermarkets that were rumored to still have anything left on their shelves.

Not long after, tired and hungry protesters took to the streets of Caracas once again, this time marching toward the presidential palace as they chanted "No more talk - we want food!." The mob was able to get within about six blocks of the palace before police in riot gear blocked the way, and began to shoot tear gas into the crowd to disperse the protest.

And now, as president Maduro remains defiant on allowing a referendum to take place to vote on his ouster, food riots and violent looting are taking place every day in a stark reminder of just how far the socialist utopia has fallen.

Jun 13 08:47

BREXIT THE MOVIE FULL FILM

Webmaster's Commentary: 

Send this to everyone you know in Great Britain!

Jun 13 08:35

Keiser Report: Gold Price Manipulation

Jun 13 07:55

Bureaucratic Insanity: Free to be Slaves

Schools in America today are less concerned about the overall welfare of students than they are with making sure that they obey all the rules, no matter how pointless, and produce good test scores. The emphasis on mindless obedience and rote learning prepares them for dehumanizing office work, where employers don’t even try to pretend that they care about the welfare of their workers. Instead, they shame them for taking vacation time and force them to work overtime for free. Employers and school administrators only care about what they can produce: children are treated no differently from widgets, and employees are treated no differently from robots.

Jun 13 07:12

Former Morgan Stanley Chief Asia Economist: "Don't Listen To The Ruling Elite, The World Economy Is In Real Trouble"

Andy Xie says the world's elite that are attending the G7, G20, Davos and other wasteful meetings are wrong to try to pin the blame for the turmoil on people’s psychology; all signs point to a prolonged period of global stagnation and instability.

Before the current G7 meetings waste of time, The G20 working group meeting in Shanghai didn’t come up with any constructive proposals for reviving the global economy and, instead, complained that the recent market turmoil didn’t reflect the “underlying fundamentals of the global economy”. The oil price has declined by 70 per cent since June 2014, while the Brazilian real has halved, and the Russian rouble is down by 60 per cent. The global economy is on the cusp of another recession, and these important people blamed it all on some sort of psychological problem of the people.

Webmaster's Commentary: 

Jun 13 07:07

Big Names Are Bailing

The list of heavy hitters who are saying bad things about this world and its financial markets - while acting aggressively on their pessimism - is growing to alarming proportions. A few examples:

Jun 13 07:03

It’s Official: China Confirms It Has Begun Liquidating T-Bonds

It begins!

Submitted by Tyler Durden:

On Tuesday evening, we asked what would happen if emerging markets joined China in dumping US Treasurys. For months we’ve documented the PBoC’s liquidation of its vast stack of US paper. Back in July for instance, we noted that China had dumped a record $143 billion in US Treasurys in three months via Belgium, leaving Goldman speechless for once.

We followed all of this up this week by noting that thanks to the new FX regime (which, in theory anyway, should have required less intervention), China has likely sold somewhere on the order of $100 billion in US Treasurys in the past two weeks alone in open FX ops to steady the yuan. Put simply, as part of China’s devaluation and subsequent attempts to contain said devaluation, China has been purging an epic amount of Treasurys.

Jun 13 07:01

George Soros Terrified of Coming Economic Collapse?

A self-styled philanthropist, billionaire, and disruptor of legitimately elected governments, George Soros has returned to the trading game after having taken a long break. George Soros, who enjoys spreading unnecessary market turmoil and unhappiness in markets and politics, has decided that the world needs some more economic collapse stories.

Hint: It may be time to get into gold soon, because even if Soros is wrong on economic collapse, he has the financial firepower to make it happen if he needs it.

Webmaster's Commentary: 

Jun 12 12:09

The Next Crash: Prelude

Jun 12 08:25

It Begins: One European Bank Fails, Another One Needs An Urgent Cash Injection!

Interesting news this week as Belgium-based Optima Bank has been shut down by both the National Bank of Belgium (which also acts as the Belgian regulating body) as well as the ECB. According to the national supervisor, the bank would have been unable to meet its commitments to its clients and was forced to cease all banking activities after some potentially fraudulent transaction were unveiled. It’s surprising to see the main media have tried to keep this silent as even the website of the National Bank of Belgium didn’t bother to issue the press release in English (whereas all other press releases on the home page can be read in English). There’s no statement from the ECB either, nor has this news been translated on the English version of website of the state-owned national television station.

Jun 12 08:11

Hitler vs (((Rothschild)))

All Wars Are (((Banker))) Wars!!!

Jun 11 16:44

Global Economy at the Brink of Collapse!

Jun 11 16:14

.01%’s Bozo ‘democracy’: War Criminal lying Clinton v. Racist WrestleMania Trump! America’s choice: Staged fear-show for slaves OR arrests to end Wars of Aggression, bankster economics, corporate media lies, and implement OBVIOUS solutions

*hyperlinks/videos live at source*

The US 2016 presidential stage-show is not an election because 25%+ of the “votes” are from electronic “voting” machines that do not provide countable receipts. Obviously: the definition of election includes verifiable vote counting, and without that component we have to call the American system of selecting representatives something other than democracy with elections. Several videos are in this article, with Princeton and Stanford as leading universities pointing out that election fraud is the obvious motivation to produce “counting” machines that provide zero evidence of what they claim to count. Please consider this 2008 2-minute parody from The Onion as the closest documentation we have to the facts:

But that’s the fourth most important fact of this non-election stage-show, as the third most critical element is the non-choice of Americans between Clinton, a lying War Criminal, and Trump, a cartoonish racist buffoon.

Jun 11 15:39

“Death of the Dollar” Not Yet

Jun 11 15:37

Does Bilderberg Really Run The World? One Chart To Help You Decide

To help readers decide, here is a chart laying out the linkages and various connections - financial, political, statutory and otherwise - between the handful of people who comprise the Bilderberg core and the rest of the world.

Jun 11 14:42

The pensions mess: can gold help?

Jun 11 11:44

Analysis: The North American Community Will Continue Integrating

A recent article in the New York Times written by Parag Khanna laid out the case for an emerging North American Union in what Khanna dubbed “A New Map for America.” The core analysis centered around the industrial, transport and energy integration of the continent between the United States, Canada and Mexico. A major highway would link Toronto to Chicago and one could speculate roll right down to Monterrey, Guadalajara or Mexico City.

Jun 11 10:10

This Might Be Funny....by Charlie Reese

By Charlie Reese: A former columnist of the Orlando Sentinel.

This might be funny if it weren’t so true. Be sure to read all the way to the end:

Tax his land,
Tax his bed,
Tax the table,
At which he’s fed.........

Jun 11 09:50

Google endorses the Trans-Pacific Partnership

Jun 11 09:34

Larry Kudlow: 'Overthrow the Establishment' to Fix the Economy

Newsmax Finance Insider Larry Kudlow is fed up with the way global central banks have been trying to revive the economy.

Nothing they have done has worked. So there’s really only one option left, he told CNBC.

“Overthrow the establishment. Now's the time,” said the CNBC senior contributor who also hosts a syndicated radio-talk show. "Overthrow the establishment," urged Kudlow, who was a former economic adviser to President Ronald Reagan.

“We need a different model. In other words, zero interest rates, or negative interest rates, and tons and tons of government spending for all these G-7 countries have not worked,” he said.

Jun 11 09:28

North Sea Job Cuts To Hit 120,000

Jun 11 08:25

Rob Kirby: Something We’ve Never Witnessed Before in Recorded History

The establishment, globalist, elite, 1%, 0.01% whatever you wish to call them they seem to be on a one-way ride straight into the abyss. The global financial systems and global economies all seem to be moving in the same direction at the same time – down the tubes. Of course if you listen to the mainstream media they will be happy to tell you, over and over, about how awesome everything is and how well you are doing. Just keep your eyes on the stock market and you too will know they are being sincere and have your best interest at heart. Anyone with a brain knows nothing could be further from the truth.

Jun 11 07:11

US Oil Rig Data Shows Uptick

Jun 11 07:06

Google endorses the Trans-Pacific Partnership

Jun 10 19:27

Sir James Dyson: 'So if we leave the EU no one will trade with us? Cobblers...'

“When the Remain campaign tells us no one will trade with us if we leave the EU, sorry, it’s absolute cobblers. Our trade imbalance with Europe is running at nine billion a month and rising. If this trend continues, that is £100bn a year.”

He jabs at a graph. “If, as David Cameron suggested, they imposed a tariff of 10 per cent on us, we will do the same in return. We buy more from Europe than they buy from us, so we would be the net beneficiary and based on these numbers it would bring £10bn into the UK annually. Added to our net EU contribution, it would make us around £18.5bn better off each year if we left the EU,” he concludes with quiet triumph.

Jun 10 19:00

Sanders Snubs AIPAC, Trump A Rothschild Tool

Luke Rudkowski of We Are Change revealed that recently Trump has been consulting with the Rockefeller-controlled Council on Foreign Relations for foreign policy advice.

In a recent American Free Press article Michael Collins Piper discusses the heavy Rothschild/Rockefeller influence amongst GOP candidates, including Ted Cruz and Donald Trump. Piper notes that it was Trump who acquired a 93% interest in Resorts International – a long-time CIA/mob drug laundry launched by Rothschild lieutenant Meyer Lansky’s protégé Robert Vesco. Piper writes:

Jun 10 15:49

How Fiat Money Destroys Culture

One of the central features of a fiat money system is that it tends to produce near-permanent price inflation. This contrasts with the workings of an economy based on natural monies such as gold and silver. Here the price levels tend to stay flat over the long run or decline, especially in the presence of vigorous economic growth. We saw this throughout the nineteenth century in both Europe and the US, where deflationary growth has been the rule.

Jun 10 15:44

$2,139,254,000,000: Taxes Set Record Through May

The U.S. Treasury took in a record of approximately $2,139,254,000,000 in tax revenues in the first eight months of fiscal 2016 (Oct. 1, 2015 through May 31, 2016), according to the Monthly Treasury Statement released today.

Jun 10 15:32

Despite "The Biggest F##king Bailout Ever" This Analyst Says S&P Will Drop 80%

Calling for an 80 percent drop in the S&P 500 is a bold claim, one that not too many people would make, unless they were convicted in their belief. Meet Etai Friedman, CEO of Eyal Capital Management, formerly of MKM Partners and Steve Cohen's SAC Capital. Etai points to an oft-used metric, Tobin's Q, to state part of his case in a series of articles describing his extremely bearish outlook of the U.S. economy.

If you missed class on the day your finance professor reviewed Tobin's Q, here's a quick breakdown. "The Q Ratio" was developed by James Tobin, an American Economist, who was awarded a Nobel Prize for his work in Economics. It's actually a fairly straightforward equation: You take the total market value of the market, plus liabilities, and divide it by the book value of the market, plus liabilities.

Jun 10 13:42

Something VERY BIG Is Afoot!

Jun 10 13:33

Gold to $10,000?

Jun 10 12:40

MoneyGrab: Delaware Sued By 21 States Over Unclaimed Checks

The state of Delaware is going to court against 21 other states over charges of mishandling up to $400 million in unclaimed checks. The attorneys general of two states claim Delaware violated federal law by misusing checks sold by MoneyGram.

Jun 10 12:07

Fearful of EU Disintegration and Mired in Crisis, France Wants Britain Punished for Brexit Revolt

As support for a British exit from the EU strengthens, at least according to the latest polls that give some people whiplash, policy makers on both sides of the English Channel are finally beginning to think about the days, weeks and months after June 23. Some countries, such as Germany, seem more inclined to favor a soft, pragmatic approach in the event of a Brexit, while others, led by the government of France, are calling for a more punitive response.

Webmaster's Commentary: 

Oh yes, I can already see the French trying to invade England!

Jun 10 11:43

Gawker Files for Bankruptcy

Jun 10 11:40

What pushes the US towards war with Russia?

First of all the US does not have a media. It has a ministry of propaganda. The media in the US is a function of the military security complex and of neoconservatives, and their ideology is world hegemony. That means American control of the entire world includes Russia and China. The neoconservative ideology says that history chose America to be the empire to rule the world. That is why they say that the United States is an indispensable country, and that the American people are the exceptional people. So, what you have here is the same ideology as Adolf Hitler. No one else matters.

There are the efforts of neoconservatives to destabilize Russia. This is the reason for Georgia and Ukraine. This is the reason for military activities on the part of the US and NATO on the Russia’s borders. This is an effort in part to destabilize the Russian government, but the neoconservatives are preparing to take this all away to war.

Jun 10 10:57

House passes Puerto Rico rescue bill

On Thursday evening, the U.S. House of Representatives overwhelmingly passed a bill to help the island avoid economic collapse. Puerto Rico is $70 billion in debt and stuck in a recession. The situation is so dire that Puerto Ricans are literally fleeing the island at a rate not seen since the 1950s "West Side Story" era.

The bill is being hailed as a bipartisan compromise. President Obama and Hillary Clinton both support it, as does Republican House Speaker Paul Ryan.

Webmaster's Commentary: 

They, of course, are not paying for it; you are!

Jun 10 10:10

Target CEO Clings To Transgender Mixed-Sex Changing Room Plan, Despite $10 billion Loss

Target’s CEO Brian Cornell refused to change course when confronted this week by shareholders who are alarmed by his expensive push for a transgender, mixed-sex changing-room policy that has helped wipe out almost 20 percent of the company’s value.

Webmaster's Commentary: 


Jun 10 09:35

How do you have a bull market without banks?

Jun 10 07:45

Our export boom OUTSIDE the EU: Leave campaign reveals Britain is exporting a record £14billion to non-European countries – as JCB boss says 'we have little to fear'

Britain is exporting a record amount to countries outside the crisis-hit European Union, it was revealed yesterday.

Leave campaigners said the official £14billion export figure was proof the country is less dependant than ever on the rest of the EU.

It emerged as one of the UK’s most successful entrepreneurs insisted Britain can ‘stand on its own two feet’.

Lord Bamford, the billionaire chairman of JCB, said in an open letter to his 6,000 UK staff that the country ‘has little to fear’ from cutting ties with Brussels and that his company and the whole of the UK ‘will prosper just as much outside the EU’.

Jun 10 07:00

EU referendum: Decision to extend voter registration deadline could lead to 30,000 more Remain voters

The decision to extend the deadline for people wanting to register to vote in the EU referendum could lead to 30,000 more remain votes, according to Telegraph analysis.

Due to the age breakdown of latecomers who made applications on Wednesday 8 and Thursday 9 June - after the initial deadline - there is likely to be more people aged under 35 registered.

This group is more likely to vote to remain in the EU than any other age group.

Even after accounting for the fact that only around two thirds of applications make it onto the voting register, and also the fact that not all of these will turn out on the day, the age breakdown of late applications makes it likely that 30,000 more could vote remain on the day.

Jun 09 17:47

Wide Racial Gaps Remain In US Public Schools: Study

Wide racial disparities remain in US public schools, including in discipline, suspension, course access and teacher quality, according to new data released by the US government.

Jun 09 16:59

GOP bill aims to bring balance back to government

Millions of American business owners have watched with disgust over the past few years as President Barack Obama fine-tuned his style of legislation via bureaucratic agency. He’s annihilated constitutional separation of powers and cost business owners and taxpayers billions of dollars with his pen and his phone. But this GOP legislation could keep it from happening again.

Jun 09 16:51

Senators Seek to Stop $2.5 Billion Taxpayer-Funded Obamacare Bailout

A delegation of leading senators are seeking to stop the Obama administration from providing some health insurers with a $2.5 billion taxpayer-funded bailout under a provision in the Affordable Care Act, or Obamacare, according to congressional communication

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