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Russia And China Plan New Bank To Replace The IMF
 The biggest emerging markets are uniting to tackle under-development and currency volatility with plans to set up institutions that encroach on the roles of the World Bank and International Monetary Fund.
The leaders of the so-called BRICS nations -- Brazil, Russia, India, China and South Africa -- are set to approve the establishment of a new development bank during an annual summit that began today in the eastern South African city of Durban, officials from all five nations say. They will also discuss pooling foreign-currency reserves to ward off balance of payments or currency crises. |
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April 5th 2013 |
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General Motors is becoming China Motors
 General Motors is becoming China Motors. Forget the spin. The evidence is clear and convincing. Did U.S. taxpayers save GM for China? Listen to the candid comments of GM's CEO.
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November 10 th 2012 |
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Money as Debt 3 - The Rothschild mafia (Paul Grignon)
Let's go back to calling the parts of the financial system what they really are. Fractional reserve banking is counterfeiting. Charging interest is usury. Student loans are loansharking operations. Trading currencies is money changing. Since our income tax is used to pay back the loans our government took out from the bankers, it is really extortion. And, bailing out the bankers who actually loaned us the bailout money, and legislating US citizens to pay them back, with interest, is serfdom.
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October 18 th 2012 |
| 12-year old Victoria Grant explains why her homeland, Canada, and most of the world, is in debt.
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| May 13th 2012 |
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'US next Greece if debt is not dealt with'
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| April 4h 2012 |
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Brave New Bank? BRICS moot dropping dollar, IMF
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| March 30h 2012 |
10 Things That Every American Should Know About The Federal Reserve
Did you know that the Federal Reserve is actually paying banks not to make loans?
Section 128 of the Emergency Economic Stabilization Act of 2008 allows the Federal Reserve to pay interest on "excess reserves" that U.S. banks park at the Fed.
So the banks can just send their cash to the Fed and watch the money come rolling in risk-free.
So are many banks taking advantage of this?
You tell me. Just check out the chart below. The amount of "excess reserves" parked at the Fed has gone from nearly nothing to about 1.5 trillion dollars since 2008.... |
| February 11th 2012 |
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Eustace Mullins - Secrets of The Federal Reserve (FULL)
Fantastic presentation by the late great Eustace Mullins about the Secrets of the Federal Reserve. Eustace Mullins is arguable the best researcher of esoteric topics.
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| December 12th 2011 |
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What Does the Fed Know That We Don’t?
Graham Summers
The whole thing smells fishy to me. Aside from the fact that the Fed clearly leaked its intentions as early as Monday night (hence the reason stocks rallied while credit markets weakened), there’s something peculiar about the fact the Fed chose to do this at the end of November.
Why November 30? Why not today or Tuesday?
I think the answer is that the Fed stepped in to help its institutional investor/ hedge fund buddies. November was a horrible month for this crowd. And with Bank of America approaching $5 per share (a level which would require many institutions to liquidate due to regulations), the Fed was also helping out its favorite insolvent bank as well. |
| December 5th 2011 |
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The Bank of England, Gold, and Libya
As an investor in bullion, there’s something you should know about this Libya business. You’re not going to hear about it on the BBC and in my opinion, it is being held from you on purpose. It is something you should know and you can see its immediate effect in the price of gold.
Since the close of play on the 8th of August ‘til the am fix today ( 25th August, 2011), gold has risen from £1035.601 per troy ounce to an all time high of £1139.55 and back down to £1049.59. This is an upwards shift of 10% and then downwards by virtually the same – that’s a lot of movement for 13 trading days! So you have to ask “why did this happen and how does it affect me?” because your money is in this deal and it is your responsibility to know. That’s why.
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| August 26th 2011 |
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War lobby won $700 billion budget boost, wants MORE as collapse looms'
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| April 17th 2011 |
| US spending problem
Even though US spends more money on military than any other country - six times more than China, for instance, and close to 50 percent of the spending world-wide. It seems to be the "elephant in the room" when it comes to budget cuts. But with three wars ending up costing billions of dollars, is that going to change? RT's Kristine Frazao takes a look.
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| April 17th 2011 |
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Portugal defaults, America on the waiting list?
Following sovereign debt crises in Greece and Ireland, the Prime Minister of Portugal asked the European Union for a bailout on Wednesday. With the United States' deficit causing coast-to-coast panic, can we learn from what's happening overseas? The Market Ticker's Karl Denniger says that the story is far from over.
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| April 8th 2011 |
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The Link Between War And Big Finance
Americans are recognizing the link between the military-industrial complex and the Wall Street oligarchs—a connection that goes back to the beginning of the modern U.S. empire. Banks have always profited from warbecause the debt created by banks results in ongoing war profit for big finance; and because wars have been used to open countries to U.S. corporate and banking interests. Secretary of State, William Jennings Bryan wrote: “the large banking interests were deeply interested in the world war because of the wide opportunities for large profits.”
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| April 8th 2011 |
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World energy crunch as nuclear and oil both go wrong
 Libya's civil war has cut global crude supply by 1.1m barrels per day (bpd), eroding Opec's spare capacity to a wafer-thin margin of 2m bpd, if Goldman Sachs is correct.
Now events in the Gulf have turned dangerous after Saudi Arabia sent troops into Bahrain to help the Sunni monarchy crush largely Shi'ite dissent, risking a showdown with Iran.
Russia's finance minister Alexei Kudrin warned on Wednesday that the confluence of events in Japan and the Mid-East could push oil to $200 a barrel in a "short-lived" spike, which would snuff out global recovery.
While there has been no loss of oil output in the Gulf so far, the violent crackdown in Manama on Wednesday left four people dead and risks inflaming the volatile geopolitics of the region. The rout of protesters encamped at the Pearl roundabout had echoes of China's Tiananmen massacre. |
| March 18th 2011 |
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Libya’s Hidden Wealth May Be Next Battle
 As the battle for Libya rages on, the struggle over control of the country’s sovereign wealth fund and its $70 billion in assets has just begun
With a sizable pot of ready cash and stakes in a few elite European companies — including the British publisher Pearson and the Italian soccer club Juventus — the fund served as an emphatic calling card for its founder, Seif al-Islam el-Qaddafi, a son of the Libyan ruler who was once regarded as the reformer in the family.
Established in 2006, the fund was used by Mr. Qaddafi in an effort to make the case that Libya was ready to open itself to the West. It helped draw into Mr. Qaddafi’s orbit a range of powerful figures, including the Rothschild family, Prince Andrew of Britain, the former European trade commissioner Peter Mandelson, the cream of corporate society in Italy and the American private equity investors Stephen A. Schwarzman of Blackstone and David M. Rubenstein of the Carlyle Group. |
| March 6th 2011 |
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Debt, Debt, Debt – 15 Facts About U.S. Government Finances That Are Almost Too Crazy To Believe
 If your family started spending nearly twice as much as it brought in every single year, how long do you think it would be before your family was completely and totally broke? Well, that is essentially what the federal government is doing. The U.S. government is so deep in debt at this point that it is hard to even try to describe it. Where do you even begin? Trying to put the vastness of U.S. government debt into words is kind of like trying to describe a great work of art by Michelangelo to a blind person. This year the U.S. government is going to go 1.645 trillion more dollars into debt. How can one possibly accurately convey just how large that amount of money really is? If you went out today and started spending one dollar every single second, it would take you over 31,000 years to spend one trillion dollars. Who can even comprehend such an amount? The U.S. government has mismanaged our finances so badly that it is hard to believe. We have sold our children and our grandchildren into perpetual debt slavery and not that many people really seem very upset about it. It is as if most of the nation is in a massive state of denial.
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| March 6th 2011 |
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Wall Street prospers, Main Street suffers
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| March 4th 2011 |
| Dictators and their sons: Col Gaddafi's billionaire children
 Britain has announced that the assets of the dictator and his family have been frozen, and the Treasury has created a special unit to trace the multi-billion pound assets they are thought to have squirrelled away in investments in the city. For years, though, that fortune helped the Gaddafi family win friends and influence across the world.
Saif al-Islam, the suave, western-educated second son of the Libyandictator, was the best known of the sons.
Seen as the natural successor to his father before the wave of protests across the north African nation, the 38 year old Saif al-Islam presented himself as a reformer. He was welcomed in the West as the acceptable face of the regime, and claims the Duke of York, Peter Mandelson and Tony Blair among his "good friends".
In 1995, he received his degree in architecture and engineering at Tripoli's al-Fateh University, and then went on to obtain a management degree from the International Business School in Vienna before gaining a doctorate at Britain's London School of Economics (LSE). |
| March 4th 2011 |
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The Essence Of The Banking Industry...
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| February 27h 2011 |
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Plan B: Cut Benefits To Bankers
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| February 18h 2011 |
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The US bank and the secret plan to destroy WikiLeaks
 The computer hackers' collective Anonymous has uncovered a proposal by a consortium of private contractors to attack and discredit WikiLeaks.
Last week Anonymous volunteers broke into the servers of HB Gary Federal, a security company that sells investigative services to companies, and posted thousands of the firm's emails on to the internet.
The attack was in revenge for claims by the company's chief executive Aaron Barr that he had successfully infiltrated the shadowy cyber protest network and discovered details of its leadership and structure.
Hacktivists, journalists and bloggers have since pored over the emails and discovered what appears to be a proposal that was intended to be pitched to the Bank of America to sabotage WikiLeaks and discredit journalists who are sympathetic to the whistle-blowing website |
| February 17h 2011 |
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How Big is the U.S. Debt?
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| February 17h 2011 |
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Greece slams IMF-EU interference
 The European Union and the International Monetary Fund have been accused of interfering in Greece's domestic affairs after demanding asset sales to ease the country's debt burden.
Greek Prime Minister George Papandreou accused the EU and the IMF of practicing “unacceptable behavior,” on Saturday.
On Friday EU and IMF inspectors, along with European Central Bank experts had been monitoring Greece's implementation of a bailout plan which saved Athens from bankruptcy, AFP reported.
After finding revenue shortfall and reform processes being at risk in a quarterly audit, the three bodies demanded that Athens should act towards reforms at a faster pace and sell more public assets, a 50-billion-euro asset sale being among the demands. Papandreou complained of the three inspecting bodies to IMF director Dominique Strauss-Kahn.
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| February 14th 2011 |
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Pentagon Reports Billions of Dollars in Contractor Fraud
 The Pentagon paid hundreds of billions of dollars to defense contractors engaged in criminal or civil fraud -- in some cases paying the companies after they were convicted, according to a new Defense Department report.
At least 91 contractors holding contracts worth $270 billion were the subjects of civil fraud judgments -- and in some cases criminal fraud convictions as well, many of which resulted in fines, suspensions or debarments. Even so, Defense Department contracting officers still assigned $4.9 billion worth of work with these companies after the fraud was uncovered, the report said.
The contractors identified in the report include such blue-chip entities as Boeing, Lockheed Martin, General Dynamics, Pratt & Whitney, IBM and even the Yale medical school.
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| February 5th 2011 |
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CorporateLand
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| February 5th 2011 |
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THE EGYPTIAN TINDERBOX: HOW BANKS AND INVESTORS ARE STARVING THE THIRD WORLD
 “What for a poor man is a crust, for a rich man is a securitized asset class.”
--Futures trader Ann Berg, quoted in theUK Guardian
Underlying the sudden, volatile uprising in Egypt and Tunisia is a growing global crisis sparked by soaring food prices and unemployment. The Associated Press reports that roughly 40 percent of Egyptians struggle along at the World Bank-set poverty level of under $2 per day. Analysts estimate that food price inflation in Egypt is currently at an unsustainable 17 percent yearly. In poorer countries, as much as 60 to 80 percent of people's incomes go for food, compared to just 10 to 20 percent in industrial countries. An increase of a dollar or so in the cost of a gallon of milk or a loaf of bread for Americans can mean starvation for people in Egypt and other poor countries.
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| February 5th 2011 |
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Bank of England chief Mervyn King: standard of living to plunge at fastest rate since 1920s
Families will see their disposable income eaten up as they “pay the inevitable price” for the financial crisis, Mervyn King warned.
With wages failing to keep pace with rising inflation, workers’ take- home pay will end the year worth the same as in 2005 — the most prolonged fall in living standards for more than 80 years, he claimed.
Mr King issued the warning in a speech in Newcastle upon Tyne after official figures showed that gross domestic product fell by 0.5 per cent during the final three months last year. The Government blamed the unexpected reduction — the first since the third quarter of 2009 — on the freezing weather that paralysed much of the country last month.
But there were fears that the country was poised to slip back into recession, defined as two successive quarters of negative growth. Economists said the situation was “an absolute disaster”. |
| January 27th 2011 |
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Which Of The Currencies Of The World Is Going To Crash First?
 Last year was an absolutely fascinating time for world currency markets. The yen, the dollar and the euro all took their turns in the spotlight. Each experienced wild swings at various times, but the overall theme that we saw was that faith in paper currencies is dying. The biggest reason for this is the horrific sovereign debt crisis that has swept the globe. The United States, Japan and a whole host of European nations are all drowning in debt. The U.S. and Japan are both steamrolling toward insolvency, and several European nations would have already defaulted on their debts if they had not been bailed out. So which of the major currencies of the world is going to crash first? Will one (or more) of the big currencies fall before the end of 2011? Once one major currency collapses will the rest start to fall like dominoes? The truth is that the world has never seen a sovereign debt crisis of this magnitude in all of human history. Almost the entire globe is drowning in a sea of red ink and it has brought us right to the brink of financial disaster.
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| January 22th 2011 |
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War for the People; Profit for the Bankers
 The Federal Reserve has helped underwrite continued American military expenditures, even after the World Wars. As of 2009, "Defense" accounts for 23% of all American Federal spending. And therefore, the gargantuan size of the American Federal debt is related to the continuation of American military interventions abroad.
If we assume that such systems are primarily instruments of war, can we also infer that the World Wars could have been prevented in their absence.
Most of us naively assume that the Federal Reserve only underwrote the American war effort. This is not the case. In World War II, the Lend-Lease program was used to ship supplies worth $759 billion to other countries involved in the war.
Some of these countries, such as Soviet Union and China, cannot be considered belligerents. Even more bewildering is the fact that the inflated dollars churned out by the Federal Reserve managed to find their way into Nazi Germany, through American private "investments." |
| January 12th 2011 |
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The American Dream By The Provocateur Network
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| January 8th 2011 |
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BANKERS GONE WILD - HOW THE US GOVERNMENT HELPED WALL STREET GANG-RAPE AMERICA'S MIDDLE CLASS
The original thirteen colonies printed their own currency, and it worked very well at empowering commerce and turning the young America into a powerful growing economy, free of the poverty and unemployment that even then crippled London. But the bankers of Europe, long used to private banks issuing the public currencies, were horrified by the American approach and saw it as a threat to their deeply cherished religious belief that the gods intended for the bankers to have all the wealth of the world. So, the Bank of England lobbied King George III to impose the Currency Act on the colonies, which forbade the colonies to use their own money and required them to borrow their lawful tender from the Bank of England, at interest. |
| January 8th 2011 |
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Foreclosures on People Who Never Missed a Payment
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| December 22th 2010 |
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Fear, Therefore I Buy: A New American Economy
It has been a truism for thousands of years that sex sells. Instead of delineating the technical or functional superiority of a product, marketing experts put the product next to a perky-breasted young woman with pouty lips to imbue it with the promise of so much more. The not-so indirect implication to women: If you buy our product, you can look like this, feel like this, be desired like this. And to men: If you buy our product, you get her.
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| Ncvember 25th 2010 |
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