ECONOMY | WHAT REALLY HAPPENED


ECONOMY

Jan 04 10:19

BEX ALERT - Why the US Will Power the World Economy in 2015

Webmaster's Commentary: 

The only way the US will power the world economy is by bombing anyone using a currency that is stronger than the dollar!

Jan 04 09:19

Germany warns against tougher sanctions on Russia

Germany's deputy chancellor, Sigmar Gabriel, has warned against destabilizing Russia through too severe sanctions over the Ukraine crisis. He said an unstable Russia would pose a danger to all of Europe.

Webmaster's Commentary: 

"That is a small price to pay to GET THOSE @#$%ING ROOSKIES!!!!" -- Official White Horse Souse

Jan 04 08:27

Millions of Obamacare subsidy recipients may need to pay back-taxes.

The problem for Democrats is not exactly this: “As many as 3.4 million people who received Obamacare subsidies may owe refunds to the federal government, according to an estimate by a tax preparation firm… H&R Block is estimating that as many as half of the 6.8 million people who received insurance premium subsidies under the Affordable Care Act benefited from subsidies that were too large, the Wall Street Journal reported Thursday.” Although it’s definitely going to be a problem: ‘several million people suddenly discovering that they now owe back taxes to the government over Obamacare’ is not exactly a good scenario, especially if you belong to the political party that set that scenario up in the first place.

Jan 04 08:16

A New IRS Horror Story That Makes Past Scandals Pale In Comparison

The practice has resulted in emptying the bank account of an innocent restaurant owner and an army sergeant in Virginia who was saving money for his daughter’s college education.

Then there was the retail business whose insurance only covered $10,000 in the event of a lost or stolen sum of money. As a result, the owner, who was cautious about keeping too much cash on site, was careful to send employees to make bank deposits throughout the day in amounts less than $10,000 so he could rely on his insurance policy.

In each of these cases, and many others, the IRS, without notice or so much as a criminal complaint or indictment, swooped in and emptied the bank accounts of these completely legitimate people and businesses.

Webmaster's Commentary: 

The United States had abandoned the principle of innocent until proven guilty and returned to the Napoleonic Code, in which one is presumed guilty until innocence can be proven.

Jan 03 11:07

ObamaCare fines rising in 2015, IRS prepares to collect

Don't have health insurance? Get ready to pay up.

The ObamaCare-mandated fines for not having insurance are rising in 2015 -- and for the first time, will be collected by the Internal Revenue Service.

Jan 03 11:04

FDIC report on Americans not using banks

Jan 03 11:01

Russia Is Building a Train That Will Zip From Moscow to Beijing In Just 48 Hours

Russia plans to build a new high speed railway, with trains that would speed from Moscow to Beijing in just 48 hours. At the moment, it takes about seven days to commute between the two cities and the route requires changes. According to Romanian website Glasul, the Kremlin has awarded the project to China Railway High-speed (CRH), a subsidiary of the state-controlled China Railway (CR), which is working in a joint-venture with the local firm Uralvagonzavod. CR is famous in the train industry for operating the world's only magnetic levitation train in an urban area, the Shangai monorail.

Jan 03 08:29

How Financial Looters Are Destroying Your 401(k) in a Fraction of a Second | Brainwash Update

Jan 03 08:03

USA instructs Russian Central Bank how to strangle Russian economy

"In other words, Russia is not even a ruble country de jure. Russia is a dollar country. The Russian ruble takes a small share in the country. The whole segment of investment is based on dollars and euros. The Constitution protects that, and the Central Bank of the country should keep the rate. Now, we have the situation when the Central Bank does not abide by the Constitution, because it raised the key rate and reduced the ruble rate. From the point of view of the Constitution, the Central Bank is obliged to keep the rate. The Central Bank violated the Constitution and Putin's numerous instructions, but it was an absolutely logical move. The charter of the Central Bank does not contain a word about the Russian economy. It should not support the Russian economy. The law says that the Central Bank is governed by international agreements. The bank signs agreements that the Ministry of Justice does not even register. The administration of the Russian Central Bank is based outside Russia.

Jan 03 07:58

White House announces sanctions against N. Korea

US President Barack Obama signed an executive order on Friday authorizing the imposition of new sanctions against certain North Korean entities in the wake of the recent Sony hack the White House continues to blame on Pyongyang.

Webmaster's Commentary: 

There is zero evidence that north Korea had anything to do with the SONY hack and quite a bit of evidence it was an internal hack by a disgruntled employee. This is Obama's version of Saddam's nuclear weapons; a made up threat to provoke another nation into war.

Jan 02 09:36

Why is it Illegal to Buy Food From Your Neighbors?

Virginians who try to sell homemade food from their kitchens are feeling the heat from state and local inspectors.

“I have to turn down my neighbors when they ask if they can buy pesto I make from my own basil plants,” says Bernadette Barber, a farmer in Lancaster, Va.
And this isn’t just a rural phenomenon.

In Arlington, government inspectors shut down a home-based soup maker, even though no customer complaints had been registered. Others have encountered similar fates, stripping them of needed income.

Webmaster's Commentary: 
Jan 02 07:47

"Audit The Fed" Bill Gains Momentum, Yellen Starts Damage Control

After years of being blocked by Democratic leader Harry Reid, The Washington Times reports, the Senate will finally get a chance next year to vote on legislation to force a broad audit of the Federal Reserve's decision-making. Ron Paul's flagship legislative efforts have been picked up by his son and now has the backing of the leader of the new Republican majority, Sen. Mitch McConnell, whose office says the legislation will earn a floor vote. While the bill is not a sure thing, it appears to have The Fed worried as Reuters reports, Yellen and other Fed officials are lobbying Capitol Hill to drop the audit push.

As The Washington Times reports,

After years of being blocked by Democratic leader Harry Reid, the Senate will finally get a chance next year to vote on legislation to force a broad audit of the Federal Reserve's decision-making.

Webmaster's Commentary: 

If everything at the Federal Reserve is done open and above board, then Yellen should have no fear of an audit.

But because the Federal Reserve is no more "federal" than the Federal Express, what are the odds that monetary policies are made on the basis of what is going to line the pockets of executives of this bank, rather than create financial opportunities for hard working individuals in this country?!? I frankly would not bet against that.

Right now, money in this country is a loan at interest rather than a public utility.

And did you know that the Federal Reserve pays absolutely no taxes?!?

Jan 01 15:07

IMF suspends financial aid to Greece

The International Monetary Fund has said it is suspending financial aid to Greece under its huge rescue program until a new government is formed.

Jan 01 12:37

Guest Post: 2014 - A Russian Viewpoint

By any measure 2014 has been a truly historic year which saw huge, I would say, even tectonic developments. This year ends in very high instability, and the future looks hard to guess. I don't think that anybody can confidently predict what might happen next year. So what I propose to do today is something far more modest. I want to look into some of the key events of 2014 and think of them as vectors with a specific direction and magnitude. I want to look in which direction a number of key actors (countries) "moved" this year and with what degree of intensity. Then I want to see whether it is likely that they will change course or determination. Then adding up all the "vectors" of these key actors (countries) I want to make a calculation and see what resulting vector we will obtain for the next year.

Webmaster's Commentary: 

This is a very long post, but well worth the read.

The bottom line here is that both Russia and the US/NATO military and political leaders are preparing for war over the rebellious provinces of Eastern Ukraine.

The big question is just how such a war will play out, with US/NATO fighting with the Ukrainian military, and Russia fighting to protect those Eastern rebellious provinces.

Jan 01 11:04

It Doesn’t Look Like Much From The Outside, But Wait Until You See The Inside!

Including appliances, the cost to build the home was only a little more than $30,000. Feeling inspired? The Morrisons have a free e-course that teaches others how to build their own tiny home. They know that less is more, and a lot more people are learning that too.

Webmaster's Commentary: 

Making life in a slave shack seem fashionable!

Plantation slave shack. Click for larger image

Because under the fascist New World Order, only BANKERS are allowed to live in large homes!

Click for larger image


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Click for larger image

Jan 01 08:05

It's a very Happy New year for Goldman fat cats! Bank accused of 'breathtaking arrogance' after handing 121 UK staff payouts totalling £370million

One of the world’s biggest banks was accused of breathtaking arrogance yesterday for handing a £367m pay bonanza to its London staff.

The staggering sum is being shared out among 121 Goldman Sachs bosses and traders – at an average of £3million a head.

Campaigners said the payouts were obscene and accused the Wall Street bank of ‘sneaking the details out while no one is watching’.

Jan 01 07:56

2014 in review: The wow and weird moments in business

2014 was a weird financial year. Oil hit a record high and low, economic war erupted over Ukraine, bankers found new tricks to cheat, China's role significantly increased, and while the US pulled itself out of recession, Europe looks poised to re-enter.

Jan 01 07:55

US lifts 40-year ban on oil exports

The US has decided to lift a ban on crude oil exports introduced in the 1970’s. The Obama administration is allowing several companies to start exporting raw materials beginning next August.

The US Commerce Department’s Bureau of Industry and Security (BIS) has authorized several energy companies to export so-called ultra-light oil, as stocks in the United States have increased following the development of shale deposits. Supplies can start as early as August, although initial volumes are likely be small.

Jan 01 07:55

‘Caught in dragnet’: Innocent charities lose millions due to anti-terror laws

British charities working in conflict zones are being cut off from millions of pounds worth of funding due to counter-terrorism legislation, a report published on Wednesday suggests.

The paper, produced by the Demos think tank, shows that a wide range of charities, especially those operating in the Middle East, have been affected as major banks continue to shut down bank accounts they believe might be linked to funding terrorist activity.

“Certain users of the banking system deemed to be high risk have found it ever harder to receive, send and store their money,” said the Royal United Services Institute’s (RUSI) director for financial crime and security studies, Tom Keatinge, who authored the report.

“In the worst cases they have had their bank accounts closed, losing financial access.”

Jan 01 07:54

Police dismantle soup kitchen for London homeless, evict activists

In a statement Tuesday afternoon, the group, who call themselves the “Love Activists,” said that the situation facing the homeless in central London has hit crisis point. Services to help the homeless in the area are woefully inadequate, they argued, with all dedicated centers due to remain closed until January 3.

Jan 01 07:51

Venezuela plunges into recession with record inflation

Venezuela's economy has entered a recession with the economy contracting 2.3 percent in the third quarter and the highest inflation in the Americas at 63.6 percent.

Webmaster's Commentary: 

Another victim of Obama's oil price war with Russia!

Jan 01 07:48

State Departments of Agriculture are Attempting to Regulate Seed Banks Out of Existence

Last year, Pennsylvania Department of Agriculture officials sent ‘a friendly letter’ to a seed bank/seed exchange group in Mechanicsburg, telling them they need to test every variety of seed with extremely impractical and pointless tests to ensure that they are up to standards with regulations.

‘Agri-Terrorism’ was cited by officials as a reason why such regulations should be enforced on something as natural as the right to exchange and possess seeds.

Jan 01 07:45

Congress poised in 2015 to order audit of Federal Reserve long sought by Ron Paul

After years of being blocked by Democratic leader Harry Reid, the Senate will finally get a chance next year to vote on legislation to force a broad audit of the Federal Reserve’s decision-making.

Once championed in Congress by former Rep. Ron Paul, the push to force the country’s central bank to undergo a full audit has been picked up by his son, Sen. Rand Paul, and others, and has the backing of the leader of the new Republican majority, Sen. Mitch McConnell, Kentucky Republican, whose office says the legislation will earn a floor vote.

Webmaster's Commentary: 

"Sorry, that data was being kept on Lois Lerner's hard drive!" -- FED Chairwoman Yelling

Dec 31 13:25

$162M Michigan state budget shortfall forecast

Some bad news could welcome lawmakers back from Christmas break: A projected $162 million shortfall in the state budget.

A preliminary forecast out this week from the state Senate Fiscal Agency says income throughout the fiscal year that began Oct. 1 will be $212.2 million less than officials estimated in May. Lawmakers used the spring forecast to develop the current budget.

Based on approved general-fund spending, income would fall short and lawmakers would have to cover the gap "by a shift of revenue from other fund sources or reduced spending," the report says.

Dec 31 13:17

Upcoming 2015 year will be all about further moves towards the integration of Eurasia as the US is progressively squeezed out of Eurasia, Pepe Escobar believes.

Fasten your seat belts; 2015 will be a whirlwind pitting China, Russia and Iran against what I have described as the Empire of Chaos.

So yes – it will be all about further moves towards the integration of Eurasia as the US is progressively squeezed out of Eurasia. We will see a complex geostrategic interplay progressively undermining the hegemony of the US dollar as a reserve currency and, most of all, the petrodollar.

Webmaster's Commentary: 

China, Russia, and Iran are all thinking long-term progress.

The US government can barely think past the next election.

Dec 31 13:02

Detroit bankruptcy fees top $170M

Lawyers and restructuring consultants charged the city $170.2 million in fees and expenses during Detroit's landmark bankruptcy case, city officials disclosed on Tuesday.

Dec 31 12:54

Why Is The Fed Hiring An "Emergency Preparedness Specialist Familiar With DHS Directives"

A few weeks ago, we reported that for some still unexplained reason, the US Treasury is ordering "survival kits" to its employees overseeing the federal banking system.

We still don't know why. But what makes things even more surprising, and confusing, is that two days before the survival kit RFP soliciation became public on December 4, 2014, a just as curious notice was blasted by the Fed's recruiting Twitter account:

So the Fed is hiring not just any "emergency preparedness specialist" but one familiar with DHS directives?

#Hiring an emergency preparedness specialist familiar w/ Department of Homeland Security directives. #Job ID:10185 http://go.usa.gov/6rpx

The only question is why does the Fed - a uniformly safe institution, where economists engage in deep contemplation and decide how much of the US deficit they will monetize - need a person with these qualifications?

Webmaster's Commentary: 

The only thing which makes sense to me is that the Fed believes, based on some very critical realities, that there is going to be some massive financial and social disruption in the US in 2015.

Folks, I know I sound like a chipped CD on this one, but if the Fed is preparing for a massive financial and social disruption here at home, you had darned well better be preparing for it as well.

Please make sure you have potable water, some kind of filtration, storable food and a means to cook things if power goes off. If you, or the people you care about are on medication, please make sure you have extra medication for yourself, and your loved ones. Buy small amounts of gold and silver, and do not put any more money in the bank than just what you need to pay your bills. Figure out what skills and services you can barter if the US currency crashes completely, and becomes worthless. Have a bug out plan, if you need to leave, and make sure you know how to get your children released from school, if you need to.

Preparing never hurts; when things go haywire, it is the preparing that can keep you and your family alive in the middle of any kind of a disaster.

Dec 31 12:21

Big Banks Conspire with Giant Oil Company to Manipulate Currency Markets

Bloomberg reports this week:

With revenue of almost $400 billion last year and operations in about 80 countries, BP trades large quantities of currency each day. Traders at the company regularly received valuable information from counterparts at some of the world’s biggest banks — including tips about forthcoming trades, details of confidential client business and discussions of stop-losses, the trigger points for a flurry of buying or selling — according to four traders with direct knowledge of the practice.

Dec 31 11:49

US Allocates a Whopping $65 Million for New Guantanamo School

The base with the most expensive prison on earth is getting one of the world's priciest schools -- a $65 million building with classroom space for, at most, 275 kindergarten through high school students.

Dec 31 09:46

U.S. Easing of Oil Exports Challenges OPEC's Strategy

The Obama administration’s move to allow exports of ultralight crude without government approval may encourage shale drilling and thwart Saudi Arabia’s strategy to curb U.S. output, further weakening oil markets, according to Citigroup Inc.

Dec 31 09:45

1000% Inflation in Venezuela?

Venezuela President Nicolas Maduro, set to announce a new currency system today, needs to devalue the bolivar or risk inflation passing 1,000 percent as soon as next year, according to Bank of America Corp.

Under the current system, Venezuela’s overvalued bolivar means that the government effectively sells the dollars it gets from oil exports at a discount, compelling policy makers to print extra currency to cover domestic spending needs. Currency controls that limit Venezuelans’ access to dollars have spawned a black market in which the greenback fetches 172 bolivars, compared with officially sanctioned exchange rates that range from 6.3 to about 50 bolivars per dollar.

Webmaster's Commentary: 

Russia is not the only country hit by a downward spiral or oil prices!

Dec 31 09:41

Some businesses use part-time to meet health law

Many businesses in low-wage industries have hired more part-time workers and cut the hours of full-timers recently to soften the impact of new health law requirements that take effect Thursday, some consultants say.

Dec 31 09:41

Greenspan Throws a Wet Blanket on Hopes for Growth Breakout

Just when you thought the U.S. economy was roaring back to health, Former Federal Reserve Chairman Alan Greenspan is here to tell you otherwise.

Dec 31 09:39

Obama Says He Is Improving the World

U.S. President Barack Obama said in a December 30th Oval Office interview with Steve Inskeep of National Public Radio, that, “wherever we have been involved over the last several years, I think the outcome has been better because of American leadership.” This statement from him was part of his answer when Inskeep asked whether the President had regrets about “overthrowing the Gaddafi regime” in Libya.

Obama answered:

“We are hugely influential; we’re the one indispensable nation. But when it comes to nation-building, when it comes to what is going to be a generational project in a place like Libya or a place like Syria or a place like Iraq, we can help, but we can’t do it for them.” In other words: the Libyan people failed, and the Syrian people failed, and the Iraqi people failed, according to America’s President — but he himself and his predecessor Bush did not fail by bombing those countries under false pretenses as they did.

Webmaster's Commentary: 

There is only a one word characterization of Obama's state of mind, upon making these statements: delusional!!!

And unfortunately, even invoking the 25th Amendment to the Constitution, which states that a President can be removed for physical or mental disabilities, the US government would be left with...President Biden for at least two years.

Dec 31 08:38

The Great Unraveling of 2015

For the record, a major, global, financial collapse is now underway. It's not impending; it's here. Forget about the "happy talk" propaganda from the USSA government and the lame stream news media in the Western countries. When you understand that at least 80% of humanity lives on less than $10 a day the dire living conditions of the great mass of humanity come into sharp focus. The situation is already very bad for most human beings on this planet. The crisis is highly likely to enter an even more acute phase this year, fraught with peril for many millions of people, after which the global economy will either begin to improve for the great mass of humanity, or the present so-called "global civilization" will be rocked to its very core, and may even outright collapse. We should know which way the trend will tend by this time next year.

Dec 31 07:37

Maduro blames plunging oil prices on U.S. 'war' vs Russia, Venezuela

Venezuela's petroleum export price has plunged by half during the second half of 2014 to $48, President Nicolas Maduro said on Monday in denouncing a U.S.-led "war" against Russia and his nation in the global oil market

The South American OPEC nation's crude trades at a discount to the U.S. and Brent benchmarks because of its higher content of heavy oil.

Average monthly prices for oil, a product that accounts for 96 percent of Venezuela's hard currency revenue, have dropped steadily since July, when it was at $96.14 per barrel.

Venezuela enjoyed average prices of $103.42 per barrel in 2012 and $98.08 in 2013.

Giving the latest figure for Monday, Maduro repeated his socialist government's accusations that the plunge in oil was a U.S.-planned conspiracy primarily intended to harm Russia.

Dec 31 07:16

Greek PM dissolves parliament ahead of snap elections

If I had any say with the Arab oil-producing nations, I would tell them to all start selling their oil for currencies other than the dollar at once and start pulling their money out of the US financial system as fast as possible.

Dec 31 06:53

Astonishing List of 71 Top Bankers Dead and No Natural Causes!

I've recently stumbled across a list of top bankers that have been killed in cold blood, died in "accidents" or have allegedly committed suicide. In some of the cases, their deaths are so suspicious that the 'suicide' verdict is simply ridiculous, as you will see.

Dec 30 13:37

Fight is ON: Utah issues Dec 31 deadline to feds

Dec 30 11:34

Russia, Japan likely to cooperate in creating Eurasian Economic Corridor

Russia and Japan have perfect chances to take their cooperation in eastern Siberia and the Far East to a new level in 2015 if they set up the so-called Eurasian corridor, MP Yukio Hatoyama, an important figure in the ruling Liberal Democratic Party, said in an interview with TASS on Tuesday.

“This concept is very topical in spite of all the current difficulties,” said Hatoyama who has more than once occupied important governmental positions throughout his political career.

He is president of the Japan-Russia Society, which unites the activists of different political forces, as well as large and medium-sized businesses.

Webmaster's Commentary: 

IF realized, this could offer tremendous economic benefits to both countries.

Dec 30 11:29

Ukraine in ‘full-blown financial crisis’ – National Bank head

Ukraine's GDP shrank by 7.5 percent from January till November 2014, as foreign exchange reserves fell to their lowest level since 2009, and inflation jumped to 21 percent by November, admits the head of the Ukraine's National Bank, Valeriya Gontareva.

The country's foreign exchange reserves shrank to $9.9 billion, as Kiev gave Naftogaz an estimated $8.6 billion to buy gas and settle state guaranteed Eurobonds. $3.1 billion went to settle the debt with Russia's Gazprom, Gontareva explained.

READ MORE: $300,000 in gold missing from Ukraine Central Bank after swapped for lead bricks

The conflict over Russia's reunification with Crimea has killed more than 4,700 people has also killed the economy.

Webmaster's Commentary: 

Ukraine's options, fiscally, are very limited.

If there is not an infusion of cash very soon, the entire government may well collapse of its own weight.

The ECB doesn't appear to be too enthusiastic about coming up with more money quickly, and the US government is, for all intents and purposes, broke as well..

Dec 30 10:32

Alaska Governor Warns State's Fiscal Situation "Critical" As Oil Price Drops

Narrative, we have a problem. What is billed day after day as 'unequivocally good' is entirely not good for Alaska (oh and Texas and Pennsylvania and...) as with oil prices dropping, AP reports Alaska Gov. Bill Walker has halted new spending on six high-profile projects, pending further review. With oil taxes and royalties expected to represent nearly 90% of Alaska's unrestricted general fund revenue this year, officials warned, "the state's fiscal situation demands a critical look."

Dec 30 10:30

Gold Held In NY Fed Vault Drops To Lowest In 21st Century After Biggest Monthly Withdrawal Since 2001

Exactly one month ago we observed that, as expected in the aftermath of the Netherlands’ shocking and still not fully-explained gold repatriation from the NY Fed, the amount of foreign earmarked gold on deposit with the Fed had just experienced a 42 ton withdrawal: the single largest outflow of gold held at the NY Fed in over a decade, going back all the way to 2001.

This had brought the total amount of YTD gold withdrawals from the NY Fed to a whopping 119 tons: the most since the Lehman collapse.

However, because this total was insufficient to cover just the Dutch repatriation of gold from the NY Fed (which amounted to 122 tons), we knew there would be more activity when the November data hit.

Dec 30 09:57

Economic Terrorism Against Russia Intensifies

Jeff Nielson: The Russian ruble fell a further 7% Monday. What is the “reason” cited in the Corporate media for this latest, further plunge in its “value” (i.e. exchange rate)? An “economic report” which shows that Russia’s economy is shrinking. Here we see the pattern of the economic terrorism perpetrated by the One Bank exposed.

In 2010; the One Bank decided to destroy the economy of Greece. It did so for several reasons. It wanted to “make an example” of Greece for all the other European governments to see. This was deemed essential when (tiny) Iceland successfully broke-free of the control of this crime syndicate after the Crash of ‘08, and reclaimed its own sovereignty. It was not about to allow other European governments to follow that example, and begin to assert their own independence.

Webmaster's Commentary: 
Dec 30 09:55

Oil Firms Pull Back on Rigs as Prices Fall

U.S. oil producers appear to be scaling back amid low crude prices, with the onshore drilling-rig count falling by 37 last week, according to oil-field services company Baker Hughes Inc.

It was the third consecutive week the drilling rig count fell and one of the biggest since crude-oil prices started to tumble in June. Analysts say energy companies operating in the U.S. will need slow their oil production to help bolster international crude prices.

Dec 30 07:47

In Pennsylvania, Judge Paves Way for Private Takeover of Public School District

Control of the struggling York City School District in Pennsylvania has been handed over to the state, effectively paving the way for public education in that county to be provided exclusively by a private company.

State officials had previously said that, if approved for a receivership (as a state takeover is called), they would bring in Charter Schools USA, an 'education management company' based in Florida, to operate the district.

Dec 30 07:41

Rise of Spanish populists overturns two-party system

The sudden rise of a new anti-establishment party has transformed Spanish politics a year before a general election, forcing the center-right government to veer away from austerity and the left-leaning opposition to scramble for new leaders.

In just a year since its founding, the party "Podemos" - We Can - has overturned the two party system in place since Spain embraced democracy in the 1970s. It is now polling around even with the ruling People's Party (PP) and main opposition Socialists, and has even led in some polls.

Dec 30 07:22

Euro slides to 2-year low on Greek election fear

The dollar gained ground on the euro and the Japanese yen Monday, with the European single currency trading at a two-year low as Greece prepares for snap elections on a tide of voter resentment against the terms of the country’s international bailout.

Webmaster's Commentary: 

The leading candidate in the coming Greece elections is anti-ECB and anti-austerity. The last time such a candidate ran for office in Greece there was massive election fraud, but this time the Greek voters are so overwhelming against the central bank, election rigging may not prevail. Assuming this candidate is not shot out of the running (Like Robert Kennedy), a win could well mean Greece leaving the EU and defaulting on its debt. That in turn would trigger the credit default swaps sold by Wall Street against Greece's debt. The Wall Street corporations which sold those swaps do not have the cash reserves to pay the claims, which means the Federal Government will insist the American taxpayer cover the losses, in true fascist economic method. I hope the American people will tell the Federal Government that We The People will not pay for Wall Street's bad business decisions any longer.

Dec 29 19:02

Could Libyan Militants Spark An Oil Price Rebound?

Analysts have speculated whether the slump in oil prices would be reversed by an uptick in demand, a buying spree by investors in cheap commodities, or high-cost producers being forced out of the market. But it may be a sudden burst of violence in Libya that provides the spark to oil prices that the markets have been looking for.

Libya has experienced several waves of violence in recent years, violence that has caused periodic disruptions in Libya’s oil sector.

Dec 29 16:46

United Airlines sues entrepreneur, 22, for tip website on how to score cheap flights

United Airlines and Orbitz have filed a civil lawsuit against a 22-year-old New Yorker for running a website that searches for the cheapest flights available using a loophole called hidden city ticketing.

Aktarer Zaman, who founded Skiplagged.com last year, says he isn’t doing anything illegal by exposing an “inefficiency” in airline pricing, a local Fox affiliate reported.

The idea of hidden city ticketing is to buy a one-way airline ticket that has a layover at your actual destination and then ditching the last leg of the trip. For instance, if you want to fly from New York to San Francisco, you would book your flight from New York to Lake Tahoe, with a layover in San Francisco, and then get off there, the Fox affiliate reported.

Dec 29 15:33

Civil Asset Forfeiture: The Final Stage Of Collapse Of Empire

Philadelphia prosecutors agreed last Thursday to halt efforts to seize the homes of two of the lead plaintiffs in a widely publicized federal suit challenging the city’s use of civil forfeiture laws in drug cases.

Philadelphia drops a Civil Asset Forfeiture case to prevent any court from ruling just seizing people’s property is unconstitutional. Phily.COM has reported the case of Christos Sourovelis and Doila Welch,who were both caught up in having their homes seized to pay police pensions when the police arrested a relative they claimed was dealing drugs on their properties. Today, you basically have to shun relatives and never pick up a hick-hiker in trouble for if they have any drugs, even marijuana, there goes your assets.

Dec 29 11:30

Brazil's Economy Just Imploded

Here are the disturbing facts showing that behind the world's propaganda growth facade, it is all hollow: Brazil's consolidated public sector primary fiscal balance, which posted a significantly worse than expected R$8.1bn primary deficit in November driven by the R$6.7bn deficit of the Central Government, dipped into negative territory: -0.18% of GDP, driven by the significant deterioration of the Central Government finances.

Webmaster's Commentary: 

"But let's blame China for it!" -- Official White Horse Souse

Dec 29 10:28

David Bird, Missing Wall Street Journal Reporter, Foresaw an Oil Crash

On the cold, wintry afternoon of January 11, 2014, David Bird, a reporter who covered energy markets for the Wall Street Journal, told his wife he was going out for a walk and left his home in Long Hill, New Jersey in a red jacket with yellow zippers. Despite his colorful attire, the involvement of hundreds of volunteers, law enforcement officials, and the FBI in the search, Bird has vanished without a trace.

As Wall Street On Parade previously reported in January, for the three months prior to his disappearance, Bird was reporting on a supply glut and growing stockpiles of oil. A newly retrieved article by Bird that appeared on line at the Wall Street Journal on August 21, 2013, shows the reporter had also presciently made an early connection between the Federal Reserve ending its massive bond-buying program known as “quantitative easing” and a potential crash in the price of oil – a crash that has now cut the price of oil almost in half in the past six months.

Dec 29 09:32

Ted Butler: The Perfect Crime In The Silver Market

A couple of weeks ago, a long time subscriber correctly pointed out that I seemed to be speculating more than usual in my conclusion that JPMorgan was the big buyer of Silver Eagles and had accumulated as many as 300 million oz of silver, including Eagles and bullion. The subscriber noted that I usually relied on hard core facts that could be documented and not on speculation. As it turns out, I believe there are sufficient number of hard facts behind my speculation, but I had failed to point them out. So let me present the facts, as I see them, that point to JPMorgan having amassed the largest physical silver position in history.

Dec 29 09:21

Top 10 Anti-Homeless Homelessphobes Of 2014

Dec 29 08:58

Christmas returns hit new high

A record number of unwanted Christmas goods will be returned this year, but eretailers are not equipped to cope, logistics experts have warned.

Approximately 30m unwanted goods worth a total of £500m will be returned during the holiday period this year, according to research by LCP Consulting, a logistics consultancy.

Dec 29 08:15

The Top 5 Things That Screw Over Americans in 2015 Spending Bill

Dec 29 08:15

Ukraine turns off reactor at its most powerful nuclear plant after 'accident'

Ukraine shut down one of the six reactors in its most powerful nuclear power plant today – for the second time in a month – because of an apparent electrical malfunction.

The Zaporizhia nuclear plant’s website insisted that radiation levels in the area remained normal after the sixth reactor was “disconnected from the grid by the generator’s internal defence mechanism”.

An official statement said the plant was “operating at 40 per cent power… The reasons for the outage are being investigated”.

Webmaster's Commentary: 

I'd hazard a guess here, and that would be, in a country both corrupt and horribly broke, needed maintenance protocols have not been observed, because they were "too costly"

I would like to politely point out to Ukrainian officials that the results of not doing such maintenance, and immediately, may well be even more costly to the health of the Ukrainian people.

Dec 29 08:09

The 2.6 Billion Dollar Welfare Payment That The U.S. Government Gives To Wal-Mart

Wal-Marts all over the nation were absolutely packed this holiday season, but according to a recent Bloomberg article, the average amount of welfare that Wal-Mart employees receive from the government each year breaks down to about $420,000 per store…

Wal-Mart’s low wages have led to full-time employees seeking public assistance. These are not the 47 percent, lazy, unmotivated bums. Rather, these are people working physical, often difficult jobs. They receive $2.66 billion in government help each year (including $1 billion in healthcare assistance). That works out to about $5,815 per worker. And about $420,000 per store.

Does that make you angry?

It should.

Webmaster's Commentary: 

One has to speculate as to the covert and overt "compensation" which Wal-Mart regularly pays various members of Congress, in the form of campaign funds, to keep this huge, disgustingly socially irresponsible ponzi scheme, going.

Dec 29 08:04

Bullion Banks Gold Leasing

Dec 29 07:30

Only War, Inflation And Financial Collapse Can End The Global "Plutonomy", According To Citi

Wait what? Was there really a time 8 years before the French economist Piketty bashed (and made millions in the process) class and wealth inequality, when one of the world's soon to be most insolvent banks had a symposium in which the bank pulled a page right out of pre-revolutionary France and celebrated the world's mega rich?

Yes, and that's not all.

Dec 29 07:23

Fed Regulatory Stance Seen Boosting 'Wall Street Party'

We almost missed this strange little article about some very big issues. Seems the Bank for International Settlements is upset with the Federal Reserve over its market posture.

Fed officials want to regulate market risks and forego interest rate hikes. BIS officials are on record stating that rates are too low in the United States and that asset bubbles are being created as a result.

Dec 28 10:07

FOR PALESTINIANS, GETTING TO WORK IN ISRAEL IS A JOB IN ITSELF

The next time an Israeli with a conscience refrains from buying sneakers or a cellphone made in Asian sweatshops, he or she should remember: The most brutal sweatshop is next to their homes. Just look once at the sad face of the worker building your home; try to imagine what he went through and put yourself in his shoes. He too is a human being.

Dec 28 09:24

As more cities ban homeless camps, advocates cry foul

For Teresa Sigerson, a former waitress who has lived under a Chicago expressway bridge for three years, the camp she shares with eight others provides shelter, companionship and some measure of security.

"There's safety in numbers," said Sigerson, 51, who begs during the day and sleeps between concrete bridge pillars under a highway northwest of downtown. "Everything's convenient here - you're by the stores, the highway."

This year, Sigerson almost lost her space when construction began on tall concrete barriers on the raised slabs where the homeless were make their beds. The project, which was halted this summer, was meant to dislodge the decade-old camp in Chicago's Avondale neighborhood.

Dec 27 11:03

The Bear Squeezes Back: Russian Ruble Rises against the Dollar

Sanctions introduced by the West against Russia are a form of hot economic warfare. But the attack on the ruble resulted in a competitive currency devaluation for Russia, limiting its ability to import from the West (saving foreign currency), and protecting the value of its declining volume of exports by increasing the number of dollars it receives for each devalued ruble.

As Michael Hudson has explained, Putin has responded to the U.S.-led sanctions movement by diversifying oil and gas exports towards China and Turkey, and signing sales agreements in rubles or currencies other than the U.S. dollar. By abandoning the U.S. dollar as its trading currency, and accepting payments in Chinese yuan, for instance, Putin is signalling his desire to break the stranglehold the U.S. currency has enjoyed over oil and gas trade, and within the world economy.

On December 22, China announced its willingness to support the ruble through currency swaps from its $4-trillion reserves.

Webmaster's Commentary: 

It painfully clearly appears that the Obama Administration has again, collectively, shot itself in the foot economically, because of its consistent, to the point of pathological, inability to think anything through to its logical conclusion.

Dec 27 09:42

Breaking News: China Destroys 3 US Shipments of GM Corn

Could the global tide in support of GMOs be turning? A new report reveals that the formerly pro-GMO Chinese government, one of the largest consumers of GMO food crops in the world, is beginning to crack down on GM corn shipments from the US that have not followed appropriate biosafety regulations.

According to a news brief released today by GMWatch.org, China destroyed three shipments of GM corn imported from the US.

Dec 27 09:41

The secret GMO war: double agents, betrayal, greed?Dec26

Well, let me put it to you this way. What would happen to Whole Foods’ program of voluntary GMO labeling if there were mandatory labeling across America, or in any state where Whole Foods does business?

Can you guess?

I’ll break it down. Whole Foods has pledged to put “non-GMO” labels on their products by 2018. They’ll do everything they can to sell as many non-GMO products as possible. The products that don’t carry the non-GMO seal will obviously be GMO, and customers can avoid them if they want to.

On the other hand, if suddenly, out of the blue, mandatory labeling became law, the whole voluntary non-GMO label enterprise would be obsolete. Why voluntarily put that label on products when mandatory labeling handles the whole issue?

“We put non-GMO labels on our food. Aren’t we wonderful?”

“Not really. The mandatory labels tell me everything that’s GMO. All the other products are non-GMO. Thanks, but no thanks.”

Dec 27 09:40

‘Everything Is In Place And Nobody Can Stop Us Now’ – Dr Day 1969 Lecture

The ‘1969 Day’ lecture has been referenced in many comments (mainly by Ned) – and thus I have posted the full Rense article here below. Dr. Day seemed to have anesthetized his audience into the belief that nothing could stop the well laid plans of this powerful (NWO) group. Well, we know, the natural order of systems is that they flourish and then decline. And in some ways, this can also be viewed as a parasite – host relationship. The success of a parasite is that it’s host is oblivious to the parasite. And as the host is sapped of ‘energy’ and resources, it has to adapt – thus the two are in a constant process of co-evolution. The danger, however, for the parasite is that: 1) the host becomes aware of the parasite, and 2) it has evolved to survive only on its host.

Dec 27 09:04

Putin: It Is Time To Play Your Ace In The Hole

The entire world is watching Putin play poker with the Western politicians lead by Obama and followed by Washington quislings in London, Brussels and Berlin. America's goal since the end of the Cold War has been to weaken by financial, economic and, if necessary, military means any real competition to its global financial and resource domination through the petrodollar and dollar world reserve currency status.

Dec 27 08:40

China Steps In as World's New Bank

Thanks to China, Christine Lagarde of the International Monetary Fund, Jim Yong Kim of the World Bank and Takehiko Nakao of the Asian Development Bank may no longer have much meaningful work to do.

Beijing's move to bail out Russia, on top of its recent aid for Venezuela and Argentina, signals the death of the post-war Bretton Woods world. It’s also marks the beginning of the end for America's linchpin role in the global economy and Japan's influence in Asia.

Webmaster's Commentary: 

"BOMB CHINA! BOMB CHINA! BOMB CHINA!!!" -- Official White Horse Souse

Dec 27 08:26

Who Pays the Price? The Human Cost of Electronics

Dec 27 08:17

Overtime bonanza at Port Authority; 13 officers set to make more than agency’s director

Thirteen agency police officers received more in salary, overtime and other payments in that period than did Executive Director Patrick Foye, whose annual salary is $289,000.

Dec 26 12:19

China to Start Payments With Russia in National Currencies on December 29

The China Foreign Exchange Trade System has announced that since December 29, China, Russia, Malaysia and New Zealand will start the usage of national currencies in mutual transactions. Beijing hopes to make the yuan an alternative to the US dollar in global trade.

Earlier in December, China's Minister of Commerce Gao Hucheng claimed that China could increase the usage of yuan in trade with Russia amid the ruble's depreciation, which falls in line with China's intention to increase the usage of national currencies in international payments in order to weaken the US dollar's dominance in global finance and promote the yuan as an alternative.

Webmaster's Commentary: 

Notice that recently on the non-news presstitute TV shows, North Korea has been increasingly demonized by the US.

Because China has a defense pact with North Korea ( the Sino-North Korean Mutual Aid and Cooperation Friendship Treaty, which lasts through 2021), a US war against North Korea would be a back door to a war with China, to prevent the assent of the yuan in the world economy.

Dec 26 11:29

Christmas in America: Growing Poverty, Unemployment and Homelessness in the World’s Richest Country

Poverty is a growth industry. So is human misery. America is banana republicanized. Unfit to live in for growing millions.

Democracy is pure fantasy. A facade masking New World Order harshness. Monied interests run things. Class war rages.

Inside the bubble it’s paradise. Outside it’s dystopian hell. America is venal. Corrupted. Depraved. Degenerate. Too broken to fix.

“The foul stench of corruption and hypocrisy that emanates from Washington is the smell of a dying country,” says Paul Craig Roberts.

Good tidings and cheer at Christmas and throughout the year are for America’s privileged alone. No joy to the world for most others.

Dec 26 09:07

China Steps In as World's New Bank

Thanks to China, Christine Lagarde of the International Monetary Fund, Jim Yong Kim of the World Bank and Takehiko Nakao of the Asian Development Bank may no longer have much meaningful work to do.

Beijing's move to bail out Russia, on top of its recent aid for Venezuela and Argentina, signals the death of the post-war Bretton Woods world. It’s also marks the beginning of the end for America's linchpin role in the global economy and Japan's influence in Asia.

What is China's new Asian Infrastructure Investment Bank if not an ADB killer? If Japan, ADB's main benefactor, won't share the presidency with Asian peers, Beijing will just use its deep pockets to overpower it. Lagarde's and Kim’s shops also are looking at a future in which crisis-wracked governments call Beijing before Washington.

Webmaster's Commentary: 

This is why we see, on the morning corporate presstitute talking head shows, a lot of demonization of North Korea; a military engagement with North Korea opens up a back door to war with China, to attempt to prevent its economic rise from overtaking the US dollar.

Dec 26 08:40

Russia’s biggest blacklisted banks appeal EU sanctions

Russia’s two biggest lenders Sberbank and VTB, as well as Russia’s foreign development bank Vnesheconombank (VEB) have appealed to the European Court of Justice against EU sanctions, saying there was not enough evidence for their introduction.

The lenders also say the sanctions are illegal, as they violated WTO rules and some international agreements.

The sanctions imposed in July on Russian banks banned some of the biggest lenders from getting long-term borrowing from the international financial markets.

Dec 26 08:40

Germans hoard €6.6 billion worth of obsolete Deutschmarks

espite the currency being replaced by the euro, Germans are still have some 12.9 billion in old Deutschmarks, an equivalent of €6.6 billion, the German central bank estimated. Nostalgia is the primary motive for keeping the old coins and notes.

Dec 26 08:37

Anti-homeless cages installed around benches in French city on Christmas Eve

The right-wing city council of Angouleme in southwest France has come under fire for banishing homeless people from its city center, after it installed cages that completely cover benches used by local hobos.

The municipal deputy responsible for security, Joel Guitton, told AFP that the benches were “almost exclusively used by people who consume alcohol on a regular basis,” and claimed the decision was taken in concert with local traders, who complained that threatening behavior was driving away customers.

Dec 25 10:33

Finland’s Valio reported to double cheese production in Russia in face of food import embargo

Finnish dairy producer Valio has decided to double cheese production in Russia in light of the embargo on EU food imports.

The company plans to open a new production line in Moscow for its Viola cheese brand, the company’s director for Russia, Mika Koskinen told Finnish Yle agency.

Dec 25 09:35

’Tis the season for a stock market rally, but not for long

Seasonal chart suggests Dow could rally till New Year’s Day, then turn lower

Dec 24 11:15

Good will to all men? Shop worker disperses homeless with freezing water, witness says

A shop worker has allegedly hosed homeless people seeking shelter outside a shop front with ice cold water to prevent them sleeping there. Police investigated the incident after a local woman reported the alleged assault on social media.

Tammi-Lee Connor, who lives in Canterbury, says she saw a shop worker at the local Wilkinsons using a hosepipe in an attempt to remove a group of homeless people. The force of the hose reportedly caused one man to fall over and hit his head.

Connor says she confronted the shop worker, who apparently told her: “How else am I expected to move them?” She then phoned the police who arrived at the scene, but didn’t arrest the man.

Wilkinsons deny the worker was ousting the homeless, maintaining they were simply cleaning the shop front.

Webmaster's Commentary: 

If true, absoflippinglutely unbelievable!

Where the hell was this man's humanity, to use a hose as "homeless crowd control"?!?

And that Wilkinson corporation defends his actions, attempting to create an alternative narrative when the video was already up?!?!? What were they thinking?!? And to that corporation, when the does "cleaning the shop front" translate into the use of what amounted to a firehose being leveled at homeless people?!?

In the immortal words of my late Grandma Thelma, "the horse was already out of the barn!"

And to some of the local politicos in in Canterbury, with some reasoning ability, please take a look at what some of your brother and sister contemporaries in the state of Utah have been doing. As reported in stateofchange.org:

Utah solved homelessness by giving people homes. In 2005, Utah figured out that the annual cost of E.R. visits and jail stays for homeless people was about $16,670 per person, compared to $11,000 to provide each homeless person with an apartment and a social worker. So, the state began giving away apartments, with no strings attached. Each participant in Utah’s Housing First program also gets a caseworker to help them become self-sufficient, but they keep the apartment even if they fail. The program has been so successful that other states are hoping to achieve similar results with programs modeled on Utah’s. It sounds like Utah borrowed a page from Homes Not Handcuffs, the 2009 report by The National Law Center on Homelessness & Poverty and The National Coalition for the Homeless. Using a 2004 survey and anecdotal evidence from activists, the report concluded that permanent housing for the homeless is cheaper than criminalization. Housing is not only more human, it’s economical.

I commend the state of Utah for having had the collective intelligence to resolve its homelessness problem in such a humane way.

Dec 24 10:15

Poorest UK households pay almost half their income in tax

According to The Guardian: The poorest 10% of households pay almost half of their gross income in tax, analysis by a campaign group claims.

The TaxPayers’ Alliance research found that direct and indirect taxes accounted for an average of 47% of the gross income of the poorest decile, with VAT accounting for the biggest share of the bill.

Dec 24 10:05

It’s Official: The Worldwide Bail-ins Are Coming

On November 16, leaders of the G20 Group of Nations – the 20 largest economies – made an important decision. The world’s megabanks now have official permission to pledge depositor accounts as collateral to make leveraged derivative bets. And if they lose a bet, the counterparty to the contract has first dibs on your money.

The governments of these 20 countries are now supposed to put these arrangements into law. Most, including the US, have already done so.

Webmaster's Commentary: 

Imagine a casino where the players are allowed to keep what they win, but if they lose, management passes the hat around to the bellhops, waitresses, desk clerks, housekeepers, and forces them to dip into their own pockets to cover the losses, so the player can go back to the tables again. The players obviously all love the arrangement; the casino workers obviously less so.

This is what the G20 have just done. Every nation has now rigged their stock markets so that the winners keep their winnings, while dropping the losses onto the people, who neither play the markets nor gave their permission to such a scheme.

This is the very essence of a fascist economic system. Bankers who make money keep it. Bankers who lose money force the public to cover the losses.

Dec 24 09:55

S&P’s Russia Junk Warning Shows Ruble Rebound Comes Late

For all of the progress Russia has made over the past week in stabilizing the ruble and quelling its financial crisis, Standard & Poor’s delivered a reminder of just how precarious the situation remains.

S&P said it’s considering cutting Russia’s credit-rating to junk, or below investment grade, for the first time in a decade as the looming recession spurs concern that the nation’s banks will face mounting bad loans. Hours before S&P released its statement yesterday, lawmakers sought to address that very concern, pushing through legislation that will allow President Vladimir Putin’s government to bail out struggling lenders.

Webmaster's Commentary: 

I have to wonder how much of the timing of this threat was purely economic; and how much is political, given the current strain in relations the US has engineered since Crimea chose, by referendum, to join the Russian Federation after the Ukrainian putsch.

Dec 24 09:48

Pepe Escobar On Blowback After Blowback For The "Empire Of Chaos"

At present, the choice between the two available models on the planet seems stark indeed: Eurasian integration or a spreading empire of chaos.

At the same moment that China is proposing a new Eurasian integration, Washington has opted for an “empire of chaos,” a dysfunctional global system now breeding mayhem and blowback across the Greater Middle East into Africa and even to the peripheries of Europe.

Don’t rule out a change in the dynamics of the situation, however. In the long run, it seems to be in the cards. One day, Germany may lead parts of Europe away from NATO’s “logic,” since German business leaders and industrialists have an eye on their potentially lucrative commercial future in a new Eurasia. Strange as it might seem amid today’s war of words over Ukraine, the endgame could still prove to involve a Berlin-Moscow-Beijing alliance.

Dec 24 08:29

Make No Mistake, the Oil Slump Is Going to Hurt the US Too

So if oil falls to $40 a barrel, a cascading 2008-style financial collapse, at least in the junk bond market, is in the cards. No wonder the too-big-to-fail banks slipped a measure into the recently passed budget bill that put the US taxpayer back on the hook to insure any ill-advised derivatives trades!

Dec 24 08:22

Surprise! IRS is as crooked as other government agencies, report reveals

Rep. Darrell Issa, who will be turning over his gavel as chairman of the House Oversight and Government Reform Committee to fellow Republican Rep. Jason Chaffetz in January, on Tuesday released a follow up congressional report on alleged corruption, fraud and overall political shenanigans occurring at the Internal Revenue Service. The report should not surprise any clear-thinking American taxpayer since those who actually paid attention to the IRS probe know that the tax-collecting bureaucracy is as crooked -- if not more crooked -- than other federal agencies involved in scandalous conduct, claim a number of law enforcement officials and political strategists.

Dec 24 08:13

Russia, 4 ex-soviet nations finalize economic alliance

Dec 24 07:36

Exposing The Deception: How The US Economy "Grew" By $140 Billion As Americans Became Poorer

Regular readers will recall that last month, at the same time as the US Bureau of Economic Analysis reported was a far better than expected 3.9% GDP (since revised to 5.0% on the back of the previously noted Obamacare spending surge), it also released its Personal Spending and Income numbers for the month of October, or rather revised numbers, because as we explained exactly one month ago "Americans Are Suddenly $80 Billion "Poorer"" thanks to (upward) revised spending data and (downward) revised income. What this meant a month ago is that as a result of a plunge in the imputed US savings rate, some $80 billion in personal savings was revised away from the average American household and right into the US economy.

After all, something had to grow the US GDP by a massive amount in order to give the Fed the green light it needs to hike rates eventually, just so it can then ease when the global dry powders from all the other central banks is used up.

Webmaster's Commentary: 

So, the GDP number is a fraud, and was used to goose the DOW over 18000, to make it look like the US economy is improving.

Dec 24 07:34

Russia’s Central Bank to provide foreign currency loans to banks to ease ruble

The Central Bank of Russia will issue foreign currency loans to some of the country’s biggest banks. They’ll be secured with receivables on other loans. The bank believes it will increase the supply of currency in the market and help stabilize the ruble.

Dec 24 07:05

Police warn Chinese forgery gangs have learned how to make near-perfect £2 coins… and say the crooks are already flooding Europe with similar fakes

Another investigator told the paper that the China to Italy counterfeit route was 'entirely feasible' and it should ring alarms bells if Chinese gangs were exporting to the country.

Webmaster's Commentary: 

In other words, they do not actually know who is making these fake coins, but China makes a convenient villain.

Dec 24 07:00

Government Seizing Retirement Accounts – 1st Steps: MyRA, Retirement Equivalent of Obamacare, Quietly Implemented this Week

Your retirement accounts, pensions and 401(k)s about to be Grubered!
Read more at http://investmentwatchblog.com/government-seizing-retirement-accounts-...

Dec 23 14:45

Nicaragua launches construction of inter-oceanic canal

At an opening ceremony, Wang Jing, the president of HKND, the Chinese company building the canal, said this moment would go down in history.

The 278km (172 mile) waterway will be longer, deeper and wider than the Panama Canal.

But critics fear a negative environmental impact and doubt its viability and economic benefits.

The Grand Canal of Nicaragua, as it has been called, aims to rival Panama's waterway and lift the country out of poverty.

Dec 23 13:35

Russia Busts “Gold-Selling” Rumors, Reports It Bought Another 600,000 Ounces Taking Gold Holdings To New Record High

Moments ago, as if to deter further speculation that Russia is indeed converting hard money earned from real resources for fiat paper, the Russian monetary authority made it quite clear, that at least in November, Russia not only did not sell any gold, but in fact bought another 600K ounces in the month of November.

Dec 23 09:50

Washington’s Lies About TARP’s “Success” Are Worse Than The Original Bailouts

The mainstream economics narrative is so far down the monetary rabbit hole that the blinding clarity of the chart below has no chance whatsoever of seeing the light of day. That’s because it dramatizes the real truth regarding all the Fed gibberish about “accommodation” and “stimulus”. Namely, that what lies beneath its “extraordinary measures”, such as ZIRP, QE, wealth effects and the rest of the litany, is a central banking regime that systematically destroy savers. Period.

Suppose that after 40 years of skimping and penny pinching this now retired household wished to keep it’s funds in safe and liquid six month CDs. Well, as shown below, according to the writ of Bernanke and Yellen, the interest earned last year on $100,0000 would have amounted to the munificent sum of $1.07 per day—–before bank fees, inflation and taxes. Yes, after 40 years of thrift, our retiree could afford—-from the entire return on his nest egg—– a Starbucks cappuccino about once every three days!

Webmaster's Commentary: 

Inflation and fees eat away at savings to the point where the idea of saving money becomes punitive. This is to push people into stocks.

But unfortunately, even with the new highs on the Dow, the markets are strongly overdue for a major correction; it is not a matter of if, but when.

Dec 23 09:48

Dow speeds past 18K, set for fifth fastest 1,000-point rise in history

The Dow Jones Industrial Average has crossed above 18,000 for the first time in intraday trade Tuesday, the second 1,000-point milestone it has surpassed this year.

If the blue chip barometer DJIA, +0.45% closes above 18,000, the rise from 17,000, which was first seen on a closing basis on July 3, will have taken just 120 sessions. That would make it the fifth fastest 1,000-point rise in the Dow’s history. It would also mark the sixth time that the Dow closed above 1,000-point milestones twice in one calendar year.

Webmaster's Commentary: 

The DOW has as much connection with the real economy as a Lotto game. Today's surge is being explained with a better-than-expected GDP report from the same government that has been lying about the true scale of joblessness, yet the Wall Street investors wink at each other and share the economic ride into the stratosphere on other peoples' money!

Dec 23 09:25

Durable Goods Orders in U.S. Unexpectedly Fell 0.7% in November

Orders for U.S. durable goods unexpectedly declined in November as corporate investment stagnated and demand weakened for military equipment.

Webmaster's Commentary: 

Which makes today's topping of 18,000 by the DOW all the more suspect!

Dec 23 09:23

Oil Price War Blowback: EU businesses hit hard by weak Russian currency

Dec 23 09:22

Washington’s Lies About TARP’s “Success” Are Worse Than The Original Bailouts

The mainstream economics narrative is so far down the monetary rabbit hole that the blinding clarity of the chart below has no chance whatsoever of seeing the light of day. That’s because it dramatizes the real truth regarding all the Fed gibberish about “accommodation” and “stimulus”. Namely, that what lies beneath its “extraordinary measures”, such as ZIRP, QE, wealth effects and the rest of the litany, is a central banking regime that systematically destroy savers. Period.

Dec 23 09:17

Russian Roulette: Taxpayers Could Be on the Hook for Trillions in Oil Derivatives

The sudden dramatic collapse in the price of oil appears to be an act of geopolitical warfare against Russia. The result could be trillions of dollars in oil derivative losses; and the FDIC could be liable, following repeal of key portions of the Dodd-Frank Act last weekend.

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