ECONOMY | WHAT REALLY HAPPENED

ECONOMY

Dec 18 08:08

For-Profit Policing

A bill introduced in the Texas legislature would do just that – giving cops credit card readers, as an adjunct to their radar detectors. Instead of just, license, registration and proof of insurance, please – it’ll be: License, registration, proof of insurance… and Visa or Mastercard, please.

And no, I am not making it up.

The bill is HB 121 and you can read all about it here. It was introduced about a month ago by a – you guessed it – “conservative” Republican. You can always count on “conservative” Republicans to bed down with law enforcement – and rape due process.

Especially if there’s a buck to be made.

Dec 17 17:47

US Targeting Hundreds of Millions of Russian Civilians

White House officials are openly expressing happiness with their siege/war tactics that they say are throwing Russia into an economic collapse and are, as a scholar defending the siege notes, “hurting the Russian public’s ability to buy food or heat homes”. This eagerness to starve and freeze children is particularly relevant given the recent publicity of the US’s tactics of starving and freezing innocent detainees as well as people claimed to be “suspects”.

Dec 17 17:44

Freedom to Fascism Part 2 1

Dec 17 17:18

Saginaw County's Hemlock Semiconductor to shutter massive, $1.2 billion Tennessee plant

It was four years ago when Tennessee lawmakers and residents of an up-and-coming community thought all of the answers to their town's challenges were coming in the form of a $1.2 billion polycrystalline silicon plant.

Thomas Township-based Hemlock Semiconductor had plans to build a massive plant in Clarksville, Tennessee, consisting of as many as 50 buildings on a 1,215-acre site.

It was going to create "amazing opportunities for all people, especially young people," a Clarksville County official said in 2010.

On Wednesday Dec. 17, Hemlock Semiconductor officials announced that its Clarksville site, located roughly 45 minutes northwest of Nashville, is closing permanently because of sustained adverse market conditions created by oversupply of polysilicon and ongoing challenges presented by global trade disputes.

Dec 17 16:46

The Engineered Fall of the Russian Ruble

Saudi Arabia, the most influential member of OPEC, and the United States are working together to destroy the Russian economy and destabilize the country.

Webmaster's Commentary: 

The problem with waging an economic war is how easily it can become a shooting war.

Dec 17 15:44

Central Bankers suppressing Russian economy

Webmaster's Commentary: 

If Putin starts arresting the owners of their Central Bank, the US attack will not be far behind!

Dec 17 15:24

U.S. Declares (Currency) War On Russia

U.S. economic terrorism (i.e. the One Bank’s economic terrorism) has hit a new extreme this week. This crime syndicate has launched what can be termed nothing less than an all-out effort to destroy the economy of Russia.

Its modus operandi is, once again, currency manipulation. What is the quickest/easiest way to destroy an economy? Drive the value of its currency as close to zero as possible. The effect of such a manipulated “devaluation” is a massive explosion in inflation. And the effect of that is to make all Russians much poorer.

The economic destruction caused by this economic terrorism affects Russians, and the Russian economy on a percentage-for-percentage basis. Each percentage lower that the banksters drive the ruble with their criminal manipulation makes Russians, and the Russian economy 1% poorer.

Dec 17 15:02

Gold Repatriation and The Monetary Crisis: Austria, Belgium and The Netherlands Want Their Gold Back

To say that events are now taking place at the speed of light is an understatement. It was just last Monday, I wrote a missive entitled “The Mother of all Bank Runs”. In it I wrote about the German and Dutch repatriations of gold which was then followed by the Belgians beginning discussions on the same topic. As a final speculation, I mentioned that “logically the Austrians would be next”. There was no way you could have told me it would be less than one week until the same news would actually come out of Austria! Unlike the Germans, Dutch and Belgians who have gold held in N.Y., Paris, and London, Austria holds 80% of their 280 tons of gold concentrated in London. http://www.zerohedge.com/news/2014-12-12/breaking-austria-considers-re... This is truly big news for several reasons which we will explore and it certainly brings up a few more questions.

Dec 17 11:57

EU: Greek Defiance on Debt Would Be 'Suicidal'

A refusal by Greece to repay bailout debts would be "suicidal" for the country, the European Union's top finance official said Monday in a clear warning to the country's popular opposition.

EU Finance Commissioner Pierre Moscovici made the remarks after a three-hour meeting with conservative Prime Minister Antonis Samaras.

"The idea of contemplating the possibility not to reimburse a huge debt is suicidal ? it's not possible, you'll be in default and that's what we've been trying to avoid for years," Moscovici said.

Moscovici's two-day visit went ahead despite stalled negotiations between Greece and bailout creditors, and took place ahead of a parliamentary vote that could topple Greece's pro-bailout government this month.

Webmaster's Commentary: 

A memo to EU Finance Commissioner Moscovici: it sure as heck was NOT suicidal when Iceland did it. They repudiated their odious debt, threw the politicians and the banksters responsible for creating their financial mess into prison, and their economy is doing quite well, thank you very much!!

I frankly think it is a GRAND model, sir, and one that the Greeks might well think about emulating.

Dec 17 11:14

Pepe Escobar, Eurasian Integration vs. the Empire of Chaos

Welcome to the new trans-Eurasia choo-choo train. At over 13,000 kilometers, it will regularly traverse the longest freight train route in the world, 40% farther than the legendary Trans-Siberian Railway. Its cargo will cross China from East to West, then Kazakhstan, Russia, Belarus, Poland, Germany, France, and finally Spain.

The Yiwu-Madrid route across Eurasia represents the beginning of a set of game-changing developments. It will be an efficient logistics channel of incredible length. It will represent geopolitics with a human touch, knitting together small traders and huge markets across a vast landmass. It’s already a graphic example of Eurasian integration on the go. And most of all, it’s the first building block on China’s “New Silk Road,” conceivably the project of the new century and undoubtedly the greatest trade story in the world for the next decade.

Webmaster's Commentary: 

What does Chinese government do to get the things it wants economically?!?

It pushes technology, and drives win/win deals.

What does the US government do to get what it wants economically?!/ It wages wars.

And what is wrong with this picture?!?

BLOODY EVERYTHING.

Dec 17 10:36

CRISIS IN RUSSIA: Seven reasons why Obama should’ve nixed the Congressional sanctions

Nothing shows more clearly just how little Americans have learned than their foreign policies. Belligerent, trigger-happy and naive, in recent years the blundering motivation behind them has been compounded by a naked desire to prosecute energy (and other raw materials) imperialism that will satisfy the infinite greed of its dominant neoliberal franchise.

What never ceases to baffle me is the American citizen surprise when, on going abroad (and over 74% of them never do) they discover the profound degree to which US interference in other people’s affairs has made them widely loathed. It is equalled in my experience only by the inability of Germans to understand why they get poor service in Greek restaurants.

Dec 17 10:29

FedEx's stock slumps after profit, sales disappoint

FedEx's stock FDX, -4.71% slumped 3% in premarket trade Wednesday, after the package delivery giant reported fiscal second-quarter profit and sales that missed expectations.

Dec 17 10:21

European stocks slump; ruble gains as central bank steps up defense

European stocks dropped Wednesday, resuming their recent run of losses as investors wrestle with economic and political uncertainty throughout the region.

The Stoxx Europe 600 SXXP, +0.19% fell 0.7% to 326.62, with all major sectors swimming in the red.

In Frankfurt, the DAX 30 index DAX, -0.12% fell 1% to 9,459.54. France’s CAC 40 PX1, +0.61% declined 0.9% to 4,058.65 and the U.K.’s FTSE 100 UKX, +0.11% declined 0.9% to 6,274.87.

At the same time, attention turned once again to Russia’s currency, which advanced against the dollar Wednesday following a report the Russian finance ministry has started to sell foreign currency in an effort to halt the ruble’s slide. The dollar was buying 64.674 rubles USDRUB, -15.46% compared with 67.893 late Tuesday.

Dec 17 09:10

Total Chaos: Massive Market Moves Spark Selling-Panic Into Close

Incredible Volatility today - 100 point roundtrip in the S&P, and 800 points in the Dow - all driven by a halt in Ruble Trading, the European close, and Kuwait pissing on the US market's fireworks...

Dec 17 09:02

Are You Really Ready for the World to be Ruled by Bankers?

Believe it or not, Citigroup announced on Friday that it would move its headquarters from New York to the actual U.S. Capitol Building, in Washington, D.C., in early 2015. Yes! They might as well had since they got everything they wanted.. Could you imagine Citi outbid JP Morgan and Goldman Sachs to lease thirty thousand square feet of prime real estate on the floor of the House of Representatives.

This is just jumping off the cliff. Not only did these people grease enough palms to repeal Dodd Frank, they are now virtually leasing space right in the Capital Building and managed to increase the donation limitation from $32,400 to $324,000. They own Congress.

Dec 17 08:55

Western Banks Cut Off Liquidity To Russian Entities

As Zero Hedge first reported today, shortly before noon one (and subsequently more) FX brokers advised clients that any existing Ruble positions would be forcibly closed out because "western banks have stopped pricing USDRUB", over concerns of Russian capital controls.

Dec 17 08:35

Worldwide Game of Thrones

The truth is that the crisis the US is drumming up is designed to cripple several economies at once, of which Russia is just one. Moreover, Russia is not as helpless as the Guardian and others want to make it appear. Russia could impose its own capital controls, among other real economic measures, that could send the whole world’s paper wealth into a tailspin.

The US government knows this but doesn’t care about the tens of millions of extras whose life savings (and livelihoods) will be wiped out in this game of thrones. Instead, behind the scenes, Congress has quietly and steadily increased the pressure, creating the economic conditions for a perfect storm in Russia (and the world) and the legal framework to bring Ukraine fully into the fold of hegemony.

Dec 17 08:32

Russia Contagion Spreads To European Banks : French SocGen, Austrian Raiffeisen Plummet

We recently noted the rise of counterparty risks in the financial system due to oil prices dropping (and leveraged derivative exposures) but as the Russia situation has deteriorated so dramatically this week, a renewed focus on bank exposures has sent stocks reeling (and credit risk soaring) among many European (and US) banks.

Webmaster's Commentary: 

Only because those American and European banks were already in a fragile state ... but let's blame Russia for the mess, shall we?

Dec 17 08:28

Stocks Bounce But Credit & Crude Continue Slide

Hope abounds once again this morning. Stocks are up (albeit off their overnight highs) thanks to AUDJPY and the Ruble is 'stabilizing'. However, the two crucial factors for recent volatility - crude prices and credit spreads - continue to slump. WTI crude is back below $55 (trading as low as $54.60 this morning) and HY credit spreads have pushed back to their wides around 406bps (disagreeing with stocks modest bounce).

Dec 17 08:03

Sony hit with class action suit over hacked employee info

On Monday, attorneys representing two former Sony workers filed paperwork in United States District Court for the Central District of California asking that a jury be assembled to weigh in on what could become a class action lawsuit between upwards of 15,000 current and past employees and the major motion picture company over the massive security breach suffered earlier this month.

According to the class action complaint, Sony should have been better prepared to protect against the hackers who recently pilfered troves of company data, especially in light of similar lapses suffered by the company in years past.

Dec 17 08:02

Commodity Trading Giant Exits Physical Gold Due To "Lack Of Physical With A Documented Origin"

But the biggest surprise in this story was the reason why Gunvor chose to discontinues its gold trading. Per Bloomberg, "executives decided to abandon the precious metals trading business partly because of difficulties in finding steady supplies of gold where the origin could be well documented, one of the people said."

And while we would certainly love to learn more about this problem of "undocumented" physical gold, just like that we have the most definitive confirmation yet that the story surrounding China's rehypothecated commodities scandal in the port of Qingdao which as previously reported included copper and aluminum and which mysteriously disappeared just as abruptly as it first appeared, not only also involved the precious yellow metal but never really went away, and instead what appears to have happened is that "robosigned" physical gold - or gold whose ownership traders are unable to validate - has now flooded into the global trading infrastructure.

Webmaster's Commentary: 

Note the China-bashing without any mention of the problems nations are having getting their gold back from the New York Federal Reserve, the Bank of England, and the Bank of China!

Dec 17 07:51

Bloomberg Foresees Russia's Demise?

Bloomberg was in full cry last night regarding a failing Russian economy. We've never seen anything like it on Bloomberg: The front page of the website carried a box on the top left hand corner filled with blaring stories.

The Collapse of Putin's Economic System
U.S.-China Economic Role Reversal Roils Emerging Markets
Russian Crisis Hits Pimco Fund Wipes Out Options as Ruble Sinks
Apple Stops Online Sales in Russia Over Ruble Fluctuation
Is the Russian Collapse Wrecking Your 401(k)?
Rate Jump Fails to Stop the Ruble Crash
Russian Stocks Drop 12 Percent
View: Russia's Problems Are Everyone's Problems

Webmaster's Commentary: 

Of course, corporate media has been telling us that Iran and North Korea's economies are on the verge of collapse for the last twenty years and it hasn't happened yet.

This economic turmoil was started with the US-backed overthrow in Kiev last January, and accelerated by the US sanctions, and now that everything is about to implode, the rush is on to convince the world that this is all somehow Russia's fault!

Dec 16 16:46

IS THE TULIP ABOUT TO BECOME THE US' NATIONAL FLOWER?

In the early 1600s, as the global economy moved from "production for consumption" into "production for profit", Dutch trading and business had become so efficient that merchants were finding themselves contracting for products that did not yet exist. The Dutch called it "Trading on the wind", a reference to the Dutch trading ships that sailed the Atlantic.

In 1636, increasing demand for newly created varieties of tulips set off a speculative cycle of ever higher prices. Tulip bulbs were bought and sold unseen. Huge fortunes (on paper) were created seemingly overnight.

Then, in 1637, the market crashed. People were ruined. The entire Dutch credit system was almost destroyed and the effects of the crash were felt across Europe.

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Dec 16 16:32

Citigroup closing 13 of its 21 Phila. region branches

Citigroup, which entered the Philadelphia market with a bang six years ago, said it will be closing 13 of its 21 branches here, with 90 positions being lost. The closings include virtually all of its suburban locations, which is part of a global strategy to focus on an urban physical footprint, spokeswoman Catherine Pulley said during an interview Friday.

Dec 16 16:17

Russia Contagion Spreads To European Banks : French SocGen, Austrian Raiffeisen Plummet

We recently noted the rise of counterparty risks in the financial system due to oil prices dropping (and leveraged derivative exposures) but as the Russia situation has deteriorated so dramatically this week, a renewed focus on bank exposures has sent stocks reeling (and credit risk soaring) among many European (and US) banks.

Webmaster's Commentary: 

Oh yes, let's blame it all on Russia! Let us forget that this whole mess was started when the US and Saudi Arabia decided to flood the oil market to drive prices down, to harm Russia's economy, and in the process, slammed the economies of every other oil-producing nation on Earth, as well as commodity traders dealing with oil. So, as it all unravels, let's put the blame on Russia!

Dec 16 15:46

Gold Surge from Switzerland Raises Black Money Fears

Berne, Switzerland: Amid concerns that the bullion trade is being used to bring back black money from Swiss banks, data showed gold exports from Switzerland are fast approaching the Rs. 1 trillion (nearly $16 billion) mark this year.

Swiss gold exports to India stood at over 2.8 billion Swiss francs ($2.9 billion) in October, up from about 2.2 billion Swiss francs in the previous month, according to the Swiss Customs Administration.

Dec 16 15:44

17-Year-Old Trading Genius Who “Made ” $72 Million Actually Just “Made It All Up”

Tyler Durden: Yesterday, when we skeptically mocked the NY Mag’s Jessica Pressler coverage of Mohammed Islam, the 17-year-old wunderkind who “allegedly” made $72 million in the market by trading penny stocks, we covered the salient lies and told readers to “feel free to click on the NY Mag’s story about the young “multi-millionaire” – after all that was the whole point.”

Sure enough, in the finest tradition of the New Republic’s Stephen Glass, the entire article was nothing more than one epic big clickbait fest.

Oh, did we mention: completely fabricated clickbait.

Dec 16 15:32

Obamacare hits 2.5 million enrollees; officials say that doesn’t count ‘extremely busy’ weekend

Administration officials said Tuesday that nearly 2.5 million Americans had selected a plan on the federal Obamacare marketplace through Friday, a tally that did not include an “extremely busy” three days before Monday night’s deadline to get covered for the new year.

Webmaster's Commentary: 

Wow! A whole 2.5 million! Out of a total US population of 330 million! That';s almost 1 percent!!!!!!!!!!!

And take it from me those Obamacare-compliant policies are a raw deal!

Dec 16 12:35

Meet Your Newest Legislator: Citigroup

Citigroup is the Wall Street mega bank that forced the repeal of the Glass-Steagall Act in 1999; blew itself up as a result of the repeal in 2008; was propped back up with the largest taxpayer bailout in the history of the world even though it was insolvent and didn’t qualify for a bailout; has now written its own legislation to de-regulate itself; got the President of the United States to lobby for its passage; and received an up vote from both houses of Congress in less than a week.

Dec 16 09:35

OPEC won’t cut production even if oil below $40 – UAE energy minister

The UAE Energy Minister Suhail Al-Mazrouei says OPEC will maintain output at 30 million barrels of oil a day, and wants to monitor the price for three months before even considering a meeting about possible changes.

Dec 16 09:14

A Century Ago: Rockefellers Funded Eugenics Initiative to Sterilize 15 Million Americans

Some people are still under the impression that the Rockefeller Foundation is all about philanthropy: helping people and saving lives.

In reality, the Rockefellers have been one of the largest financial backers and drivers of the eugenics and the depopulation agenda for over a century now.

Check out these 1915 newspaper clippings we came across in research.

Dec 16 09:00

Spain Criminalizes Protest Against EU Central Bankster Austerity

Spain will impose a raft of new laws to combat popular protests in opposition to EU central bankster austerity.

Webmaster's Commentary: 

Dec 15 21:27

Yes, It's Possible For A Gold-Backed Renminbi To Dethrone The US Dollar

“[W]e want to use our reserves more constructively by investing in development projects around the world rather than just reflexively buying US Treasuries. In any case, we usually lose money on Treasuries, so we need to find ways to improve our return on investment.”

– Unnamed senior Chinese official, cited in an FT article, ‘Turning away from the dollar’, 10th December 2014.

Dec 15 14:54

Broken prison labor program fails to keep promises, costs millions

Today, some 1,600 incarcerated men and women in prison factories produce everything from dorm furniture to school lunches. Washington Correctional Industries (CI) generates up to $70 million in sales a year, ranking as the nation’s fourth-largest prison labor program.

But behind CI’s glossy brochures and polished YouTube videos is a broken program that has cost taxpayers millions of dollars, charged exorbitant markups to state agencies to make up for losses, and taken jobs from private businesses that can’t compete with cheap prison labor, a Seattle Times investigation has found.

Dec 15 13:42

London banker banned for dodging rail fares

A London banker has been banned from working in the financial services industry after he was caught dodging rail fares.

The Financial Conduct Authority (FCA) said in a statement today that Jonathan Burrows has been banned for not being “fit and proper.”

The former BlackRock director would board a train at Stonegate, a suburb nearly 60 miles southeast of London, for his daily commute and, after arriving at London’s Cannon Street, pay only 7.20 pounds ($11.70) for the journey, instead of the full 21.50 pounds price that was required for that journey, railway officials said.

By boarding at a station without a ticket gate barrier, Burrows was able to use a loophole in the system of pre-paid transport passes. When arriving in London he touched out with his pass, which is only valid for travel within London, and was charged only 7.20 pounds. He should instead have bought a full ticket for traveling into the city from Stonegate.

Webmaster's Commentary: 

This is exactly the sort of behavior by bankers that MAKES them bankers!

Dec 15 13:11

Hazardous Trend: The ‘Commodification’ of Sleep

Clearly, there are some serious risks associated with our 24/7, wireless, ‘smart’ culture. Maybe this is just another cost of ‘progress’, or maybe it’s because we simply cannot keep up with the basic costs of living and dozens fees, fines and stealth taxes?

Dec 15 11:20

Subprime lending market in Canada skyrockets to record as banks tighten reins

What is going on is that Windows has become a bloated nightmare and as the economy shrinks, Microsoft has lost the ability to effectively maintain it all. This problem is hardly confined to Microsoft, and indeed Rome fell when it could no longer maintain the infrastructure it had built such as the roads and aqueducts.

Dec 15 11:20

Microsoft update blunders going out of control

We have had an absolute deluge of problem updates from Redmond recently and some have been serious. What's up at Microsoft?

Webmaster's Commentary: 

What is going on is that Windows has become a bloated nightmare and as the economy shrinks, Microsoft has lost the ability to effectively maintain it all. This problem is hardly confined to Microsoft, and indeed Rome fell when it could no longer maintain the infrastructure it had built such as the roads and aqueducts.

Dec 15 11:17

BEX ALERT - US manufacturing output surges in November

US manufacturing output surges in November

Webmaster's Commentary: 

See next story down!

Dec 15 11:16

New York state manufacturing index lowest in two years: New York Fed

The New York Fed's Empire State general business conditions index fell to -3.58 in December from November's 10.16 reading, falling to negative territory for the first time since January 2013.

Economists polled by Reuters had expected a reading of 12.4 this month. A reading above zero indicates expansion.

The new orders index tumbled to -1.97 from 9.14 in November, while prices paid were at 10.42 against 10.64 in the prior.

Dec 15 11:15

Dodd-Frank Budget Fight Proves Democrats Are a Bunch of Stuffed Suits

The dominant media narrative this past week has been that Massachusetts Senator Elizabeth Warren, firmly saddled in her high horse, is trying to hold up the passage of the budget over a trifle. In reality, the so-called "Citigroup" provision to kill a rule designed to prevent future bailouts (so named because it was allegedly written by Citigroup lobbyists) is potentially quite an evil and destructive little thing. But the nitpicking counter-spin is already coming hot and heavy.

Dec 15 08:18

Russian Central Bank Intervenes After Currency Crashes, Halts "Manipulated" Equity Futures Trading

The Russian Ruble has collapsed this morning. Despite a modest dead-cat-bounce-like rally in crude oil, the Ruble is down almost 3 handles smashing through the 61/USD level for the first time ever. Minutes after flash-crashing to 61.46/USD, officials, according to Reuters, halted trading in certain instruments to “prevent possible manipulation of equity futures market."

Dec 15 08:07

We Just Witnessed The Worst Week For Global Financial Markets In 3 Years

Is this the start of the next major financial crisis? The nightmarish collapse of the price of oil is creating panic in financial markets all over the planet. On June 16th, U.S. oil was trading at a price of $107.52. Since then, it has fallen by almost 50 dollars in less than 6 months. This has only happened one other time in our history.

Dec 15 08:06

Rioting and vandalism in Zurich, Switzerland

The protest began on Friday evening at 22.15 clock.

Police fired rubber bullets, tear gas and water cannon to disperse some 500 people who caused hundreds of thousands of euros worth of damage
that police said was claimed by left-wing radicals.

Zurich is a major financial hub hosting several banking giants.Cars, trees and bins were set alight in the upscale and normally peaceful city.
The violence erupted during a left-wing protest in Zurich’s upscale Stadtkreis 4 neighbourhood.

Dec 15 07:51

Activists launch online initiative against ‘Internet Tax’

A group of Russian citizens has launched a petition seeking to prevent the adoption of a bill that would introduce a universal tax on the internet, collected by rights organizations representing authors of copyrighted films, music and books.

The anonymous authors of the motion claim that the universal tax is against the law as it would force the majority of internet users to pay for content that they never download or use.

Dec 15 07:30

Congress approves plan to allow pension cuts

More than a million retired and current truck drivers, construction workers and other union workers could see their pension benefits cut now that Congress passed a proposal aimed at shoring up some of the nation's biggest pensions.

Tacked on as an amendment to the government's $1.1 trillion spending bill, the proposal was approved by the Senate late Saturday night.

While those sponsoring the pension proposal say it is "the only available option" to save failing multiemployer pension plans, other groups -- like the AARP and the Pension Rights Center -- are crying foul.

Webmaster's Commentary: 

There is another option to cutting pensions. Take those Wall Street bankers whose 2008 mortgage-backed securities fraud wrecked the pension funds in the first place and make them cover the shortfall to protect the pensioners!

Dec 14 19:50

Bernie Sanders unveils plan to break up Wall Street banks

Sen. Bernie Sanders plans to introduce new legislation to break up Wall Street banks and prevent them from using the the House-passed spending bill to engage in the kind of investments that led to the 2008 financial crisis.

Webmaster's Commentary: 

Stay out of small planes, Bernie!

Dec 14 19:43

Report: Obamacare Shutting Down Free Health Clinics

The Affordable Care Act is spelling the demise of free healthcare clinics across the country, The Wall Street Journal reports.

Of clinics across 28 states, almost a dozen in the past two years have cited Obamacare as their reason for shutting their doors.

Dec 14 19:11

US isolated, BRICS to get greater voting power at IMF

Months after the formation of new financial institutions like the $100 billion BRICS Bank and the China-led Asia Infrastructure Investment Bank, Christine Lagarde, managing director of the International Monetary Fund (IMF), said Friday that the organization is ready to discuss IMF voting reforms without the United States to give BRICS and emerging countries greater voting power.

Lagarde said the IMF is disappointed with the US inaction to ratify the governance and quota reforms and will now move forward without Washington.

“The IMF’s membership has been calling on and was expecting the United States to approve the IMF’s 2010 Quota and Governance Reforms by year-end. Adoption of the reforms remains critical to strengthen the Fund’s credibility, legitimacy, and effectiveness, and to ensure it has sufficient permanent resources to meet its members’needs,” Lagarde said in a statement.

Dec 14 19:05

Belgium braces for national strike

The strike, which is the climax of a union movement that began last month with a huge march and violent protests in Brussels, will also likely close schools, businesses, factories and government offices.

Unions say there is "no choice" but to go ahead with the strike after the right-of-centre government of Prime Minister Charles Michel pushed ahead with plans to save 11 billion euros ($13.7 billion) over five years.

Dec 14 15:27

The Global Bankers’ Coup Coming to US with Bail-In Bill

On December 11, 2014, the US House passed a bill repealing the Dodd-Frank requirement that risky derivatives be pushed into big-bank subsidiaries, leaving our deposits and pensions exposed to massive derivatives losses. The bill was vigorously challenged by Senator Elizabeth Warren; but the tide turned when Jamie Dimon, CEO of JPMorganChase, stepped into the ring. Perhaps what prompted his intervention was the unanticipated $40 drop in the price of oil. As financial blogger Michael Snyder points out, that drop could trigger a derivatives payout that could bankrupt the biggest banks. And if the G20’s new “bail-in” rules are formalized, depositors and pensioners could be on the hook.

Dec 14 10:00

Chicago Fed Reserve bank - Biggest Bank vault in the country bricking up windows on first floor

Webmaster's Commentary: 

Yep, the fit is about to hit the shan!

Dec 14 09:02

Tycoon’s fatal plunge ‘linked to five other mystery deaths’

Stephen Curtis died when his new £1.5million machine plunged to the ground a short distance from an airport.

Days earlier he told a relative: “If anything happens to me in the next few weeks, it will not be an accident.”

Dec 14 08:29

EU Mulls New Russia Sanctions Over Crimea, Denmark Says

The European Union is considering stepping up its restrictions on business with Crimea to make clear that the bloc doesn’t accept Russia’s annexation of the Ukrainian peninsula, Danish Foreign Minister Martin Lidegaard said.

Webmaster's Commentary: 

The Crimean people voted to separate from the unelected Junta in Kiev (the latter being the product of a US/EU-backed coup a year ago), then voted to ask to join Russia. Russia agreed. What's the matter, Denmark? Don't you believe in Democracy?

Dec 14 08:22

Visa, MasterCard sued for blocking donations to WikiLeaks

Lawyers representing the credit card processor used by WikiLeaks are suing Visa and MasterCard in the United States over the 2010 banking blockade that kept the anti-secrecy group from receiving funds.

On Monday this week, American attorneys for Icelandic hosting provider DataCell ehf filed suit in the US District Court for the Eastern District of Virginia in hopes of having a federal judge award the company upwards of $5 million for what it claims was a coordinated attempt between Visa and MasterCard to restrict funding to WikiLeaks after the secret-spilling organization started publishing classified US State Department cables over four years ago.

Dec 14 08:00

US to give Israel $350mn for Iron Dome

The US Senate has approved a multi-billion-dollar military spending bill that includes $350 million for Israel’s Iron Dome missile system.

The Senate passed the bill on Friday by a 89-11 vote.

The bill was sent to the White House for President Barack Obama's signature.

The 2015 defense authorization bill also authorized $521.3 billion for Defense Department operations, and about $64 billion for overseas military operations.

The House of Representatives last week approved the National Defense Authorization Act by a 300-119 vote.

Five billion dollars are allocated for the fight against the ISIL terrorist group. The money should be spent for the training and arming of the so-called moderate rebels in Syria for two years and for the training and assisting of Iraqi and Kurdish forces.

Earlier this month, US Vice President Joe Biden announced that the Obama administration had provided Israel with more than $17 billion in military aid since 2008.

Dec 14 07:51

Barclays 'may have automated currency rigging'

New York's financial regulator investigates possibility of systemic foreign exchange manipulation at Barclays and Deutsche Bank

Dec 14 07:41

The global currency reset is now 100% confirmed, activated and performing.

The global currency reset is now 100% confirmed, activated and performing.

Bank of China monies have been received into master paymaster accounts globally, yet still are unreleased to private groups or the public as of Monday evening EST.

The United States Treasury was sequestered to solve government shut down threat this coming Thursday. But remaining cabal leadership, led by David Cohen of UST, is still fighting public disclosure of TRN tooth and nail. However, his delay attempts are futile as the Believe it or not cabal has been rendered incapable of starting yet another war/mass destruction event (a la 9/11 or 3/11).

Dec 13 22:01

Spare dollars

Last week I wrote that contrary to the prevailing mood US dollar strength could reverse at any time. This week I look at another aspect of the dollar, which almost certainly will become a significant source of supply: a global shift out of it by foreign holders.

Dec 13 22:00

Memo To Citigroup CEO Michael Corbat: Does Your Crony Capitalist Plunder Know No Shame?

But now comes a naked Wall Street raid on the taxpayers that’s beyond the pale; and it would have sailed right through in the dead of night absent Elizabeth Warren’s intrepid opposition. Bravo, Senator!

I am referring to the Citigroup-drafted sneak attack on Washington’s tepid effort to curtail the more egregious gambling habits of some of the big banks. These incorrigible larcenists have been trying to gut the “push out” provisions of Dodd-Frank for more than three years now, yet the latter boils down to a simple and urgently necessary injunction to the banks. Namely, you can’t roll the dice in the “derivatives” gambling halls with taxpayer guaranteed deposits.

Dec 13 09:07

Venezuela to face US sanctions over violence against protesters

The US is poised to impose sanctions on Venezuela over the sometimes-violent suppression of anti-government protests which racked the country earlier this year.

Webmaster's Commentary: 

"Because when we club down the Occupy protesters, that's GOOOOOOOOD, and when others club down their protesters, that's BAAAAAAAD!" -- Official White Horse Souse

Dec 13 09:05

Brazil, Uruguay move away from US dollar in trade

Brazil and Uruguayhave switched to settling bilateral trade with local currency to stimulate turnover, bypassing the US dollar.

Dec 13 09:04

Fitch Downgrades France

And the final punch in the gut on this bloodbathy Friday some from French Fitch which just downgraded France from AA+ to AA.

Webmaster's Commentary: 

Merde!

Dec 13 08:40

The Economy Is Worse than During the Great Depression

We noted in 2013 that the British economy is worse than during the Great Depression.

The Washington Post’s Wonkblog pointed out in August that Europe is stuck in a “Greater Depression” … worse than the Great Depression.

Well-known economist Brad DeLong agrees. As does Paul Krugman.

Historian, economist and demographer Neil Howe provided the following charts via Forbes last month, showing how dire the situation is in Europe:

Dec 13 08:27

Buried Within Omnibus Bill, a 'Long-Term Blank Check for War Spending'

Analysts warn that "emergency" war spending fund, which was supposed to be temporary, has become permanent fixture that inflates Pentagon's budget

Dec 13 07:49

The Red Hand Coalition and the fight against austerity in Quebec

On this week's episode of Talking Radical Radio, I talk with Joël Pedneault of the Red Hand Coalition, one of the main province-wide formations opposing austerity measures in Quebec, about the trajectory of resistance to those measures in recent years -- from before and through the student strike that brought down a government, to the lull in the year that followed, and into the resurgence that has just begun as a new Liberal government seeks once again to impose austerity on the province.

Dec 12 17:43

Bail-In and the Financial Stability Board: The Global Bankers’ Coup

On December 11, 2014, the US House passed a bill repealing the Dodd-Frank requirement that risky derivatives be pushed into big-bank subsidiaries, leaving our deposits and pensions exposed to massive derivatives losses. The bill was vigorously challenged by Senator Elizabeth Warren; but the tide turned when Jamie Dimon, CEO of JPMorganChase, stepped into the ring. Perhaps what prompted his intervention was the unanticipated $40 drop in the price of oil. As financial blogger Michael Snyder points out, that drop could trigger a derivatives payout that could bankrupt the biggest banks. And if the G20’s new “bail-in” rules are formalized, depositors and pensioners could be on the hook.

Dec 12 17:04

UK government to 'pay back' all World War One debt

Nearly one hundred years after it was first issued, the UK Government has announced that it will redeem all of the nation's World War One debt.

Webmaster's Commentary: 

Well then, of COURSE it is time for the bankers to start a new World War!

Dec 12 16:45

Progressives to Dems on Budget Deal: 'We Will Remember This Betrayal'

As Senate prepares votes on funding measure dubbed "the Citigroup Budget," critics lament sad return of Clinton-era "triangulation" and economic policies that continue to favor Wall Street over Main Street

Dec 12 15:45

All About That Wall Street Giveaway That Elizabeth Warren Hates

On Tuesday evening, lawmakers released the text of the massive spending bill that Congress must approve to avoid a government shutdown. Buried on page 615 of that 1,603-page piece of legislation is a provision entirely unrelated to government funding that a few lawmakers managed to sneak into the bill without any public debate during last-minute negotiations. It's a Wall Street giveaway—written by Citigroup—that would allow banks to engage in more types of risky trading with taxpayer-backed money.

Dec 12 15:32

Congress Passes Temporary Tax Breaks for Big Business Now for 15 Years Straight

Last week, the House voted to extend special interest tax breaks, most of which expired at the end of last year. The 55 provisions included in this year's package are the legacy of the Bush-era tax cuts that began in 2001. But 15 years later, these temporary tax break meant to stimulate a slowing economy have mutated into a slew of provisions that mostly help corporations avoid taxes. According to the bipartisan nonprofit Committee for a Responsible Federal Budget, these tax extenders have sapped the U.S. government of $44 billion in lost revenue over the past decade. And while some provisions do help individuals in the middle and lower classes, like tuition credits and deductions for teachers buying school supplies, three-quarters of that lost revenue has gone to big businesses.

Dec 12 14:29

Threats to your retirement accounts!

If you ask most Americans they will tell you they don’t even expect to ever get all their pension or 401k. As a facilitator of the LLC IRA, a unique way to jailbreak an IRA and take it off grid, I am told by countless clients that they always viewed their pension or 401k as a phantom asset- something they would be lucky if they ever fully received. The system has done a miraculous job deceiving the public about retirement accounts. This will make an overhaul or even outright theft of these accounts not only possible but generally accepted in the face of a systemic fiscal meltdown.

Webmaster's Commentary: 

Posted in light of the new law allowing Pension Plans to short-change retirees!

Dec 12 14:13

Banks Get OK to Use Taxpayer Money for Derivative Speculation

A good example of this is the House and Senate agreeing to raise the budgets for the Commodities Futures Trading Commission and Securities & Exchange Commission in exchange for quietly repealing the Lincoln Amendment to the Dodd Frank financial regulation law. The action looks like more money for tougher regulation, but eliminating the Lincoln Amendment means American banks are once again free to use taxpayer money to back-stop their speculative derivative trading.

Dec 12 14:13

Boeing to Lay off 561 Employees in SoCal

According to the Los Angeles Times, 253 people at Boeing's Long Beach facilities will lose their jobs, while an additional 308 jobs will be cut at the company's Huntington Beach and El Segundo outposts.

"Boeing carefully links its employment levels to business requirements," company spokesman Stephen Davis explained to the Times. "These employee layoffs are being driven by the difficult business and economic conditions that all businesses have been experiencing."

Dec 12 13:33

I, pet goat II

A story about the fire at the heart of suffering.
Bringing together dancers, musicians, visual artists and 3d animators, the film takes a critical look at current events. A mysterious figure travels aboard his boat through a dark and desolate landscape in his quest for inner peace.

Dec 12 12:17

US Treasury ordering survival kits for Bank Examiners? Anyone Expecting a Crisis Here?

Yep. The US Department of Treasury is trying to order survival kits for all of its employees who oversee the federal banking system, according to a new solicitation they put out. These survival kits are to be for every employee at the Office of the Comptroller of the Currency (OCC), which conducts on-site reviews of banks throughout the country. The survival kit includes everything from water purification tablets to solar blankets and the price should not exceed $200,000 per kit? Unbelievable.

Dec 12 11:18

Couple who received more than SEVEN HUNDRED robocalls over four years from Bank of America win $1m lawsuit

A married couple has been awarded over $1 million in compensation after successfully bringing a harassment complaint against Bank of America for being subjected to hundreds of loan collection calls over a four year period.

Nelson and Joyce Coniglio, of Tampa, Florida, received more than 700 automated calls after they fell behind on mortgage loan payments in 2009.

In a complaint filed in federal court in July, attorneys for the couple said they had been on the receiving end of 'patterns of outrageous, abusive and harassing conduct' by a subsidiary of Bank of America.

Dec 12 11:08

5 Awful Things Congress Snuck Into the Omnibus Budget Deal

On Tuesday, Congressional leaders struck a deal to avert another government shutdown and put off our next completely avoidable, 100% self-imposed budget crisis until next September. And while most members of the least productive Congress in the history of these United States are already busy patting themselves on the back for summoning enough courage and can-do American spirit to actually govern for a day, the rest of us shouldn’t start celebrating just yet.

If you’re a Congressperson looking to sneak through something shady, the omnibus budget bill is the perfect opportunity since 1.) It’s 1600 pages long and very easy to hide things in, and 2.) Congress kind of has to pass it or the government shuts down. Again.

Dec 12 11:05

The Vanishing Male Worker: How America Fell Behind

Working, in America, is in decline. The share of prime-age men — those 25 to 54 years old — who are not working has more than tripled since the late 1960s, to 16 percent. More recently, since the turn of the century, the share of women without paying jobs has been rising, too. The United States, which had one of the highest employment rates among developed nations as recently as 2000, has fallen toward the bottom of the list.

Dec 12 11:04

US corporations are winning the war against human rights lawsuits

A landmark U.S. Supreme Court decision in 2013 that made it all but impossible to sue foreign companies in U.S. courts for alleged roles in overseas human rights abuses is proving to be a boon for U.S. firms too, court documents show.

In the roughly year and a half since the ruling in Kiobel v. Royal Dutch Petroleum Co, U.S. companies such as Chiquita Brands International Inc , IBM Corp and Ford Motor Co have successfully invoked the Supreme Court’s reasoning to fend off lawsuits alleging they were involved in human rights abuses in South Africa, Colombia and elsewhere.

Dec 12 10:40

U.S. Funds Development of Russian Rocket Engine Replacement

U.S. lawmakers have agreed to fund the development of an American-made replacement to the Russian engine used on some military rockets.

The massive spending bill, called the Omnibus Appropriations Act, which Congress may vote on today, would avert a government shutdown and fund most federal agencies for the rest of the year, including the Defense Department.

The legislation would provide $220 million “to accelerate rocket propulsion system development,” according to the bill’s accompany text, which clearly targets the Russian-made RD-180 even though it doesn’t specify the propulsion system.

Dec 12 10:38

Premier Jim Prentice warns of consequences of low oil in State of the Province Address

In a nearly 45 minute speech in front of 700 people, Premier Jim Prentice gave his first State of the Province Address Tuesday.

Prentice began his speech at the Edmonton Chamber of Commerce luncheon by acknowledging the fact oil has hit record lows lately, sitting around $63 a barrel Tuesday compared to just months ago when it was going for $100 a barrel.

“The economic viability, the sustainability, the strength of our energy industry in this province is not in question,” Prentice told the room.

“This is a price trough. This is a price trough, to be clear, of uncertain duration. Longer, I think, than many people realize,” he added.

Webmaster's Commentary: 

"But Canada's suffering is a small price to pay to GET THOSE @##$% RUSSIANS!" -- Official White Horse Souse

Dec 12 10:09

El-Erian: Divergent Central Bank Policies May Spell Danger

Global economies are moving at different speeds, creating a divergence in central bank policy that could cause trouble next year, says Mohamed El-Erian, chief economic adviser at Allianz.

The U.S. economy will strengthen, he writes on Project Syndicate. Chinese growth will stabilize at a level lower than recent averages, and Europe will struggle, El-Erian says.

"This multi-speed economic performance will contribute to multi-track central banking, as pressure for divergent monetary policies intensifies," he writes.

The Federal Reserve will probably start raising interest rates in the third quarter, while the European Central Bank conducts quantitative easing, and the Bank of Japan maintains its "pedal-to-the-metal monetary stimulus," El-Erian says.

The divergence means a stronger dollar, he writes.

Dec 12 10:08

"The City Is On The Verge Of Collapse" - East Cleveland Is Begging To File For Bankruptcy

With Detroit emerging from bankruptcy yesterday, its experience under Chapter 9 was apparently so successful (occasional subsequent massive power outage notwithstanding), that suddenly every other insolvent city in the US is also i) admitting it is in dire straits and ii) hoping to recreate the Detroit experience.

Webmaster's Commentary: 

"Success" being described as the transferring of public assets into the bankers' hands!

Dec 12 10:05

House narrowly approves spending bill, legislation heads to Senate

The House narrowly approved a sweeping spending bill Thursday night despite deep misgivings among liberals and conservatives alike, sending the measure to the Senate as lawmakers averted a partial government shutdown.

Webmaster's Commentary: 

"Misgivings." That is Congress' reaction to the provision in the bill that dump $300 trillion (with a 't') in derivatives exposure onto the taxpayers, and allow pension funds who have lost money to Wall Street's frauds to slash benefits to the retired workers that paid that money into the pension fund in the first place.

Dec 12 10:02

Yuan Has Real Shot at IMF Blessing on Reserve Status

In late 2015, the IMF will conduct its next twice-a-decade review of the basket of currencies its members can count toward their official reserves. Including the yuan in this so-called Special Drawing Rights system would allow the IMF to recognize the ascent of the world’s second-biggest economy while aiding China’s attempts to diminish the dollar’s dominance in global trade and finance.

Webmaster's Commentary: 

A telling reminder that these private central banks have no loyalty to the nations in which they operate, but are loyal only to themselves and their greed!

Dec 12 09:10

Chrysler recalls 208,000 vehicles for Takata air bags

Chrysler now has recalled about 617,000 vehicles with Takata air bags since June. In total, 10 major automakers have now recalled more than 10.7 million vehicles with Takata air bags. Inflators in the Takata bags can explode and shoot metal shrapnel at drivers and passengers.

Dec 12 09:00

New Federal Law Targets Retirement Benefit Cuts: “We Thought Our Pension Was Secure”

The $1.01 trillion spending bill being moving through Congress right now includes some new provisions that may come as a shock to millions of American pension holders. In a bipartisan deal that also included leaders of unions and retirement fund management companies, pension recipients who depend on the money promised to them during their working years may see significant cuts to their monthly disbursements.

There have been Senate hearings, exploratory committees and rumors over the years, but nothing had ever really been legislated so most Americans simply ignored it as another one of those “conspiracy theories.”

Unit now.

Webmaster's Commentary: 

INTRODUCING! PENSION MOTEL! YOUR CASH CHECKS IN, BUT IT NEVER CHECKS OUT. ANOTHER FINE PRODUCT BROUGHT TO YOU BY THE UNITED STATES CONGRESS.

On a more serious note, the US Government has just dropped a big hammer on the retirees, a demographic normally supportive of the incumbents.

Dec 12 08:52

Pension plans to be looted nationwide as Congress okays institutional theft of funds

When societies approach collapse, coercion shifts to outright theft: Stealing money right out of your bank account, for example, like we recently witnessed in Cyprus. Government also routinely target pension funds and even private retirement accounts, attempting to keep itself afloat by any means necessary.

Just like clockwork, that looting of pension plans is now about to commence. "Congress could soon allow the benefits of current retirees to be cut as part of an agreement to address the fiscal distress confronting some of the nation's 1,400 multi-employer pension plans," writes Michael Fletcher of the Washington Post. [1] The Post continues:

"This proposal would devastate retirees and their surviving spouses," said Karen Friedman, executive vice president of the Pension Rights Center, a nonprofit group. "The proposal would also torpedo basic protections of the federal private pension law ... that states that once benefits are earned, they can't be cut back."

Webmaster's Commentary: 

Dec 12 08:20

Germany, Stuck with Massive Bill for Ukraine, Asks Russia for Help

The last two paragraphs in the article show that the German Finance Minister Wolfgang Schauble has been obliged to telephone Anton Siluanov, Russia’s Finance Minister, to ask him not to call in Russia’s $3 billion loan, which becomes automatically repayable when Ukraine’s debt exceeds 60% of its GDP, something which everybody knows has now happened.

It also says that “George Osborne, the UK finance minister, expressed surprise at the request, attendees said, saying the EU was now asking for help from Russia at the same time it was sanctioning the Kremlin for its actions in Ukraine.”

In other words in order to “save” Ukraine (and their own political reputations) the European leadership is now being forced to turn to Russia for help - the same country they accuse of invading and destabilising Ukraine and which they have sanctioned.

Webmaster's Commentary: 

And Russia will step in to help, pulling the rug out from under US meddling in Europe.

Dec 11 17:45

Spending Bill to Get House Vote Amid Discord on Bank Measure

The banking language, insisted upon by Republicans, would ease rules enacted to protect taxpayers against bank losses after souring derivatives trades helped cause the 2008 financial crisis. The dispute over the banking rule is a preview of Republican plans to roll back other business regulations when they take control of both chambers in 2015.

Dec 11 17:19

CRomnibus gridlock as Congress goes on surprise recess with government shutdown looming

The United States House of Representatives has been in an emergency recess since 2 p.m. as dissent on both sides of the aisle grows for the "CRomnibus" spending bill.

Dec 11 14:36

The New Cold War Policy Has Backfired

The world’s geopolitics, major trade patterns and military alliances have changed radically in the past month. Russia has re-oriented its gas and oil trade, and also its trade in military technology, away from Europe toward Eurasia.

The result is the opposite of America’s hope for the past half-century of dividing and conquering Eurasia: setting Russia against China, isolating Iran, and preventing India, the Near East and other Asian countries from joining together to create an alternative to the U.S. dollar area. American sanctions and New Cold War policy has driven these Asian countries together in association with the Shanghai Cooperation Organization as an alternative to NATO, and in the BRICS moves to avoid dealing with the dollar area, the IMF and World Bank austerity programs.

Webmaster's Commentary: 

The United States greatly over-estimated the need other nations have for it, and tried to use that need to coerce compliance, only to find the other nations were perfectly happy to go on about their lives without any entanglements with the US system!

Dec 11 12:03

$1 trillion spending bill barely hangs on in first test vote

The $1.1 trillion spending bill narrowly survived its first test Thursday when the House approved rules for debate, bringing the bill to the floor and setting up an afternoon showdown that will expose just how deep the divisions run within the Democratic Party.

Senate Democrats were pleading for the bill’s passage, saying it was the best deal possible in divided government, but a House Democratic leader said the bill was so bad it would “fundamentally change our republic” because it altered campaign finance laws and made changes to how banks can trade derivatives.

Dec 11 11:22

How "Superman of Renters" Daniel Bramzon Revolutionized L.A.'s Eviction-Defense Industry

Rents in Los Angeles have climbed by 25 percent since 2000, according to a UCLA study, while households' median incomes have actually declined. That's left L.A. among the least (if not the very least) affordable cities in which to live in the United States. According to Zillow, a person making the metro area's median income of $59,000 must pay 48 percent of his or her paycheck to cover median rent, which is currently an eye-popping $2,392.

With margins like that, it's easy to fall behind. Some 64,000 to 73,000 people are evicted in L.A. each year — a population equal to that of Redondo Beach. But before the sheriff shows up at their door with a padlock, they're called here, to "unlawful detainer" (legalese for eviction) court. Every day, more than 50 cases move through Department 94.

Dec 11 11:15

Ellen Brown: Big Banks Will Take Depositors Money In Next Crash

It gets worse, as Brown goes on to say, “Theoretically, we are protected by deposit insurance up to $250,000 in the U.S. and 100,000 euros in Europe. The FDIC fund has $46 billion, the last time I looked, to cover $4.5 trillion worth of deposits. ”

Dec 11 10:58

European banks are stuck in a severe crisis

Big banks in Europe are riskier than anywhere else in the world.

They have higher non-performing loans, greater asset shrinkage, larger losses and higher debt-to-equity ratios. And European banks are bracing for even worse loan losses.

It’s the combination of those characteristics that lead to a crisis, and the eurozone essentially is in one today.

Webmaster's Commentary: 

The root cause of all these problems is that eleventh marble!

Dec 11 10:54

Mexico vows to sell dollars to halt peso's slide

Mexico is ready to intervene in currency markets to fight the peso's fall against the dollar amid concerns over dropping oil prices and a possible increase in U.S. interest rates.

Dec 11 10:54

McDonald's to pare U.S. menus, ingredient lists

McDonald's Corp said on Wednesday it plans to cut the number of items on its U.S. menus and use fewer ingredients in food as it moves to speed up service, bolster sales and offer consumers personalized options to compete better with Subway and Chipotle Mexican Grill.

Webmaster's Commentary: 

I do not expect this to work. McDonald's may join SEARS and Radio Shack on the endangered icons list!

Dec 11 10:35

THE WRH BANKER ARTICLES: ALL IN ONE CHUNK

I have received many emails regarding the various articles I have written about the problems with the current economic system of being forced to borrow all currency at interest from a privately-owned central bank. This is, of course, the very system of banking the United States fought a revolution to be free of, only to be sold back into said banker slavery not just once, but three times by corrupted congresses and corrupted presidents.

I have been asked to collect all those articles into a single page to make it easier for people to send to their friends, and this collection is the result.

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