ECONOMY | WHAT REALLY HAPPENED


ECONOMY

Mar 23 16:38

Hyperinflation is a Process

Hyperinflation is a process; a positive feedback loop that once entered is very hard to get out of. This process can go on for years. In the feedback loop the more the central bank prints money and buys bonds, the less other people want to hold bonds.

Enter widespread loss of confidence.

At the same time, the less other people hold bonds, the more the central bank has to buy them so that the government has enough money to spend. This feedback loop can also be called a death spiral, chain reaction, tipping point; like an avalanche, slippery slope, or a debt bomb. Once the conditions are right, it can just go off.

Mar 23 15:03

Cypriots Stone Bank of Cyprus On "Depositor Haircut" Anniversary

Mar 23 15:02

Fighting The "War on Terror" By Banning Cash

It was just a matter of time before Western governments used the trumped up "War on Terror" as an excuse to drastically ratchet up the very real war on the use of cash and personal privacy that they are waging against their own citizens.

Taking advantage of public anxiety in the wake of the attacks on Charlie Hebdo and a Jewish supermarket, France has taken the first step. It seems the terrorists involved partially financed these attacks by cash, as well as by consumer loans and the sale of counterfeit goods. What a shockeroo!

The terrorists used CASH to purchase some of the stuff they needed--no doubt these murderers were also shod and clothed and used cell phones, cars, and public sidewalks during the planning and execution of their mayhem. Why not restrict their use? A naked , barefoot terrorist without communications is surely less effective than a fully clothed and equipped one.

Mar 23 14:52

Critics sue to stop ECB bond-buying

Three German businessmen are seeking to block the European Central Bank's controversial bond purchase programme, arguing it oversteps the bank's mandate.

Mar 23 12:35

Forum -- What You Really Need to Know About Foreclosure in Washington State.

Monday, March 23, 2015

KingCast and Mortgage Movies Present: Forum -- What You Really Need to Know About Foreclosure in Washington State.

Sometimes you have to redifine what winning is......This is an ongoing series sponsored by Greater Seattle attorneys and real estate professionals including, but not limited to Kreg Kendall, Michelle Darnell, Jeff Jared, Esq. and Ha Dao, Esq. Stay tuned for more information.

Mar 23 10:20

9 BILLIONAIRES ARE ABOUT TO REMAKE NEW YORK’S PUBLIC SCHOOLS—HERE’S THEIR STORY

Hedge-fund manager Whitney Tilson stands at a Harvard club podium in midtown Manhattan, facing a room full of investors eating eggs and bacon, and eager to learn more about charter schools. The walls of the wood-paneled room are lined with the portraits of Tilson’s Harvard forefathers. Above the podium where Tilson stands hangs an ornamental gold ship, swaying. In the corner of the room is a large screen, on which the logos of the day’s sponsors, the Bill and Melinda Gates Foundation and the Walton Family Foundation, float like guardian angels. Two large stone fireplaces dominate the west end of the room. Their exaggerated mantelpieces are each decorated with two empty crests and a laurel—symbols of power drained of any purpose.?

Mar 23 09:13

Protests Target Gates Foundation Secret Meeting on Africa’s Seed Systems

The Bill and Melinda Gates Foundation (BMGF) and the United States Agency for International Development (USAID) are sponsoring a secret meeting Monday in London to promote a recent report detailing in clear terms how to privatize the seed and agricultural markets of Africa– without African stakeholders having a seat at the table...

Mar 23 09:06

THE SILVER MANIFESTO — David Morgan

Mar 23 08:47

Washington Blinks: Will Seek Partnership With China-Led Development Bank

Don’t look now, but Washington just blinked. As we’ve documented exhaustively over the past week, pressure has been building steadily for the US to strike some manner of conciliatory tone towards China with regard to the Asian Infrastructure Investment Bank, a China-led institution aimed at rivaling the US/Japan-backed ADB. Britain’s decision to join China in its new endeavor has prompted a number of Western nations to throw their support behind the bank ahead of the March 31 deadline for membership application. Because the AIIB effectively represents the beginning of the end for US hegemony, the White House has demeaned the effort from its inception questioning the ability of non-G-7 nations to create an institution that can be trusted to operation in accordance with the proper “standards.”

Webmaster's Commentary: 

The days of "either-or" with regard to the dollar just ended, and with it, one of the major reasons for the wars.

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Mar 23 07:25

George Osborne’s Budget will threaten workers' retirement funds with 55% stealth tax

Analysts say proposals in Chancellor George Osborne’s Budget will hit not just the rich, but also those on more modest incomes.

Mr Osborne claimed a move to lower the “lifetime allowance” – the maximum that can be saved into a pension pot before a 55 per cent penal tax kicks in – from £1.25million to £1million, would affect “fewer than four per cent” of people. But experts argue that the allowance has now almost halved from £1.8million since 2010 and the tax will hit older savers who have built up their pension pots over many years.

Greg Kingston, of Suffolk Life, part of Legal & General, said: “Even a 21-year-old on the forthcoming higher minimum wage of £6.70 per hour who works a 35-hour week and puts 20 per cent of their earnings into a pension, by the time they are 67, could easily have reached this limit.”

Mar 23 07:23

Washington just dipped into retirement savings to fund itself

You know things are getting bad when your government begins to stick its hand into retirement accounts just so that it can remain solvent for a few more months.

With the debt limit about to come back into full swing at a staggering $18.1 trillion this week, Treasury Secretary Jack Lew has undertaken drastic measures to kick the can down the road until later this year.

One such plan to fund the government includes raiding the Thrift Savings Plan (TSP), a 401(k)-style retirement savings plan set up for federal employees.

Webmaster's Commentary: 

The US Government has now emptied the Social Security trust fund and is starting to loot the retirement accounts of their own employees! I remember back in the 1990s when I first called attention to what was going on there was this one poster from a .gov domain who kept attacking me and insisting that the government had the right to spend social security funds as general revenues. Now that it is his own retirement being embezzled, I wonder if he has changed his mind! :)

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Mar 23 07:13

As Real Estate investing picks up..What You Need to Know Before Buying a House

When you’re in the market for a new home, house hunting is quite an exciting event. Floor plans, appliance colors, and backyards quickly become an obsession during the process.

You may even find yourself thinking about houses at night when you’re trying to fall asleep, and during the day when you’re trying to work. I know I did!

Mar 23 07:10

The Federal Reserve Bank Must Be Destroyed

During the years of the Roman Republic, Cato the Elder ended every speech with the phrase “Delanda est Carthago” (Carthage must be destroyed). Rome had fought two wars with Carthage, yet the threat to the Republic remained. Cato saw Carthage as an existential threat and concluded that Rome would not be secure as long as Carthage existed. So fervently did he hold this view that he ended every speech, even about completely different subjects, with the famous phrase. I believe that we Austrians need to adopt a similar phrase to remind the American people that the US faces an existential threat from the machinations of the Federal Reserve Bank. “Delanda est in Susidium Foederatum Bank”…The Federal Reserve Bank must be destroyed. Like Carthage, the Federal Reserve Bank cannot be controlled or restrained. Either it or our republic will survive, but not both. For the sake of our nation, the Fed must be destroyed.

Mar 23 07:05

THE REAL REASON THE AMERICAN DREAM IS UNRAVELING

Marketwatch posted an article this week titled Why the American Dream is Unraveling, in 4 charts. As usual, the MSM journalist and the liberal Harvard academic can create charts that reveal a huge problem, but they completely misdiagnose the causes and offer the typical wrong solution of taking more money from producers and handing it to the poor, with no strings attached. This has been the standard operating procedure since LBJ began his War on Poverty 50 years ago. Do these control freaks ever step back and assess how that war is going?

Mar 23 06:51

Spiegel Goes There: "Hitler's Hordes" Respond To Greece, Send The Nazis, And Merkel, To The Acropolis

Just over a week ago, when the bipolar, schizoid relationship between Greece and Germany was in the "we demand reparations for Nazi crimes" stage, we reported that the Greek Prime Minister threatened the seizure of German assets in response for “crimes of Third Reich and Hitler’s hordes."

We noted that it was only a matter of time before Germany's peculiar sense of humor struck back (and not just with a fake video explaining how the allegedly fake Varoufakis middle finger was faked), and sure enough here comes Spiegel with "How Europeans look at the Germans — The German Superiority" or ""The German Übermacht", in which Spiegel decided to send over Merkel along with Field Marshal Walther von Brauchitsch and a a few other nazis right in the middle of the Acropolis.

Mar 23 02:59

Vladimir Putin calls for 'Eurasia' currency for former Soviet states

Russian leader Vladimir Putin has proposed creating a regional currency union with Belarus and Kazakhstan, Russia's partners in a political and economic union made up of former Soviet republics.

"The time has come to start thinking about forming a currency union," Mr Putin said after the talks in the Kazakh capital Astana with Belarussian President Alexander Lukashenko and Kazakh President Nursultan Nazarbayev.

Mar 22 20:48

The last lap: Inside the abandoned NASCAR track that has crumbled into a eerie ruin after sitting empty for four years

It was a mainstay on the NASCAR circuit for nearly five decades.

But now, North Wilkesboro Speedway in North Carolina - once filled with thousands of fans at a time - lies silent and deserted.

The legendary track, which opened its doors to a crowd of more than 10,000 in 1947, was recently caught on camera by photojournalist Seph Lawless.

The photojournalist, also an activist, captured the dilapidated arena as part of an ongoing project which focuses on 'the most abandoned' sites in America.

He told Daily Mail Online: 'This arena was once filled with thousands of people now it sits eerily silent and completely abandoned. It was apocalyptic.'

Mar 22 19:17

U.S. Looks to Work With China-Led Infrastructure Fund

Obama administration proposes co-financing projects with new Asian Infrastructure Investment Bank

Mar 22 17:06

We Have to Stop the Next Banker's War

Mar 22 16:50

10 Companies Profiting the Most From War

Mar 22 16:32

This is hard to figure

Mar 22 16:17

The Federal Reserve Bank Must Be Destroyed

Mar 22 16:06

Three Ukrainan banks went belly-up in one day!

Three Ukrainian banks are beeing closed by the National bank of Ukraine because of insufficient equity. On Friday March 20, the VAB-Bank, the Astrabank and the City Commerce Bank were declared insolvent and had to close. Earlier this year, the Delta Bank, the Kreditprombank and the Omega Bank, also had to close due to financial problems.

Mar 22 15:27

Bix Weir: Next crash already started... There is no doubt there will be chaos

The banks will freeze up and derivatives are going to go sideways, and you are not going to be worried about your 401K. You are going to be worried about where you are going to get food, gas and water.”

Mar 22 15:20

No surprise to anyone in these markets

Mar 22 15:13

The New Order Emerges

China and Russia have taken the lead in establishing the Asian Infrastructure Investment Bank (AIIB), seen as a rival organisation to the World Bank and the Asian Development Bank, which are dominated by the United States with Europe and Japan. These banks do business at the behest of the old Bretton Woods order. The AIIB will dance to China and Russia's tune instead.

Mar 22 14:58

'Bread, jobs, dignity': Crowds gather for anti-austerity march in Madrid

Spaniards have gathered for an anti-austerity rally in the Spanish capital’s center. Almost a year ago, a similar protest in central Madrid turned violent and hundreds were injured.

Mar 22 14:30

Lagarde says IMF to co-operate with China-led AIIB bank

International Monetary Fund chief Christine Lagarde has said the IMF would be "delighted" to co-operate with the China-led Asian Infrastructure Investment Bank (AIIB).

The AIIB has more than 30 members and is envisaged as a development bank similar to the World Bank.

Mrs Lagarde said there was "massive" room for IMF co-operation with the AIIB on infrastructure financing.

The US has criticised the UK and other allies for supporting the bank.

Mar 22 14:04

[Video] Goldman Sachs: The bank that rules the world

Ever since the stock market crashed, on the night of September 15, 2008, the name Goldman Sachs, or GS, has been appearing everywhere: in the collapse of the financial system, the Greek crisis, the plunge of the euro, and the campaign to prevent regulation of financial markets.

The investment bank created in New York in 1868 has carved out its reputation and success by working silently behind the scenes.

But today GS stands accused of myriad charges: playing a key role in the subprime loan fiasco, pushing several of its competitors into bankruptcy, helping countries like Greece hide their deficits before speculating on their downfall, precipitating the fall of the euro, and influencing the consumer price index. And yet GS has come out of this latest crisis richer and more powerful than ever.

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