ECONOMY | WHAT REALLY HAPPENED

ECONOMY

Jun 15 10:18

Treasury Reveals What JPMorgan Was Really Doing With London Whale Trades

The U.S. Treasury’s Office of Financial Research (OFR), the body created under the Dodd-Frank financial reform legislation to make sure another 2008 epic crash never happened again, quietly released a report last week which not only suggests another 2008-style crash is possible but that regulators will likely be blindsided again.

The report, written by Jill Cetina, John McDonough, and Sriram Rajan, reveals that the big Wall Street banks are ginning up their capital measures by engaging in opaque and potentially dangerous “capital relief trades.”

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Jun 15 10:03

Bipartisan Agreement: Foreign Governments Pay Former Senate Leaders to Sell TPP

While liberal organizations and members of Congress deride the TPP as the biggest boondoggle since NAFTA and President Obama defends it as “the most progressive trade treaty ever,” the influence peddlers who populate K Street see opportunity.

Policy makers aren’t simply facing a lobbying barrage from the typical slate of domestic interest groups. Foreign governments are running sophisticated operations to influence Congress and gather intelligence in Washington as the negotiations proceed.

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Jun 15 09:42

German daily says IMF 'torpedoed' European Commission proposal on Greece debt

The International Monetary Fund (IMF) has “torpedoed” a recent bailout deal proposed by the European Commission to Greece which was made in an attempt to avoid a potential default by the cash-strapped country, a report says.

Webmaster's Commentary: 

But the IMF will go on funding Kiev's wars even though Kiev cannot repay any of the money it currently owes!

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Jun 15 09:23

Texas “Pulls” $ One Billion in God Bars from Fed Depository as Economic Twin Towers Collapse

Texas Governor Greg Abbott has signed a bill (HB 483) into law on Friday, June 12, that will allow Texas to build a gold and silver bullion depository. In addition, Texas will repatriate their $1 billion worth of bullion from the Federal Reserve in New York to the new facility once completed.

The writing is on the wall – institutions are losing faith and trust – and are transitioning or converting into ‘physical’ ‘real’ money, before it’s too late…

Jun 15 09:17

Ukraine to Get New IMF Loans Despite Inability to Repay Private Lenders and Another Country Falls into Permanent Debt to Loan Sharks.

Like the United States, all of Europe and most of the world.
In spite the grievous state of the Ukrainian economy, the IMF said it will continue to lend money (backed by what? The paper it’s printed on) to Ukraine, so Kiev can complete economic restructuring
Despite Keynesian economic theory that you can borrow your way out of debt, you can’t.

Webmaster's Commentary: 

The United States, all of Europe and the IMF will continue to lend money to Ukraine, so Kiev can wage war on their own people and provoke a confrontation with Russia.

(And don't you wish you could get the same deal from your credit card companies!)

Jun 15 09:04

Is Deutsche Bank The Next Lehman?

Looking back at the Lehman Brothers collapse of 2008, it’s amazing how quickly it all happened. In hindsight there were a few early-warning signs, but the true scale of the disaster publicly unfolded only in the final moments before it became apparent that Lehman was doomed.

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If Deutsche Bank is the next Lehman, we will not know until events are moving at an uncontrollable and accelerating speed. The nature of all fractional-reserve banks — who are by definition bankrupt at all times – is to project an aura of stability until that illusion has already begun to implode.

Jun 15 08:32

Plans To Hijack the UK General Election 2015

In line with our above stated vision, this campaign aims to force the UK government to abandon its unnecessary and harmful austerity programs. To force the government to abandon its austerity programs we need to reduce their power and increase the power of the people. That is what this campaign is designed to do.

Webmaster's Commentary: 

"You cannot hijack the British elections! That's MY job!" -- Number 9 3/4

Jun 15 08:26

Consumers Not Following Orders

Last week the government reported personal income and spending for April. After months of blaming non-existent consumer spending on cold weather, shockingly occurring during the Winter, the captured mainstream media pundits, Ivy League educated Wall Street economist lackeys, and Keynesian loving money printers at the Fed have run out of propaganda to explain why Americans are not spending money they don’t have. The corporate mainstream media is now visibly angry with the American people for not doing what the Ivy League propagated Keynesian academic models say they should be doing.

Jun 15 08:25

IRS Criminal Investigator: "The world where criminals can hide their money is becoming smaller and smaller."

Under the Department's 'Swiss Bank Program,' the two Swiss banks signing the non-prosecution agreement will "continue to Cooperate With Department of Justice" and give up the goods on all their American customers. They must also reveal "the circumstances surrounding the closure of relevant accounts holding cash or gold." One of the banks had reportedly "Processed requests from U.S. taxpayers for cash or gold withdrawals so as not to trigger any transaction reporting requirements." U.S. taxpayers can "enter the IRS Offshore Voluntary Disclosure Program to resolve undeclared offshore accounts," but they "must now pay that 50 percent penalty to the IRS."

Jun 15 06:31

EU PREPARING FOR ‘STATE OF EMERGENCY’ AFTER GREEK TALKS COLLAPSE

Germany’s EU commissioner said on Monday it was time to prepare for a “state of emergency” after talks collapsed at the weekend to rescue Greece from default and ejection from the euro.

Jun 14 22:42

NZ Govt signs up for Chinese banking initiative

The Government has formally agreed to become a founding member of the Asian Infrastructure Investment Bank - an initiative led by China because it wanted more influence in the world's banking systems to reflect its importance in the world economy.

The bank will have initial capital of close to $139 billion to invest in infrastructure projects in Asia, and New Zealand's paid contribution will be about $125 million over five years.

Finance Minister Bill English said New Zealand was the first western developed country to join negotiations with China to set up the bank.

"Our membership will enhance our already strong economic, trade and investment links with the Asian region."

He said the bank would address a significant gap in infrastructure investment in the Asian region.

New Zealand will formally join the bank in a signing ceremony in Beijing this month.

Jun 14 21:52

The Slavery Economy - Trade Deals and the Quest for Global Dominance

Given record corporate profits relative to U.S. economic production, the question of why granting corporations more control over the lives of hundreds of millions of people is a good idea is worth asking.

Jun 14 21:46

Greece fails to 'bridge gaps' in EU bailout talks: European Commission

Bailout talks between Greece and its international creditors have failed, leaving the matter in the hands of eurozone finance ministers, a European Commission spokesman says.

Jun 14 21:44

The End Of The Big Banks Is Coming

Jun 14 17:30

Tax Rules Landlords Need to Know

Owning rental property might not be as advantageous on your tax return as you thought.

Jun 14 17:28

Marijuana Use May be Legal in First Church of Cannabis

A new church has formed in the state of Indiana based around the use of marijuana.

Jun 14 14:37

TTP: Unconstitutional tribunal for .01% oligarchs to dictate what is ‘fair trade’

*hyperlinks/videos live at source*

hat tips: 21st Century Wire, Ellen Brown, StormCloudsGathering, Dr. Paul Craig Roberts, WikiLeaks, David Icke, Fight for the Future, Eric Zuesse

“The corporations have bribed the political leaders in every country to sign away their sovereignty and the general welfare of their people to private corporations. Corporations have paid US senators large sums for transferring Congress’ law-making powers to corporations.” - Dr. Paul Craig Roberts, former Assistant Secretary to US Treasury, former editor of the Wall Street Journal

https://www.youtube.com/watch?v=KnyPsKw_gak

Jun 14 14:01

Ukrainians Dispossessed, Americans are next — Paul Craig Roberts

Americans are already dispossessed of their livelihoods and careers and their pensions are next. Wherever we look, the fate of populations under Western influence are the same. The Ukrainians are exploited, the Greeks, the British, the Americans.

Apologists for exploitation claim that the rich are richer because they are smarter. But the stupidity of the rich is everywhere visible. The greedy fools have destroyed their domestic US market. Really, how stupid can you be? How do Americans buy when they are forced by offshoring out of well paid manufacturing and software engineering jobs into being waitresses, bartenders, retail clerks and part-time Walmart workers in order that corporate bottom lines improve? Who buys the stuff that sustains the profits? Not Americans who no longer have the incomes to do so.

Jun 14 11:04

Pentagon Prize Time: Top 10 Federal Contractors

In fiscal year 2014, the United States government paid out an astounding $444 billion in federal contracts. That’s equivalent to almost forty percent of the federal discretionary budget for 2014.

Jun 14 10:46

When Bankers Collide

Tim Geithner is seated at Charlie Rose’s exclusive Table Ronde, his fashionable curly locks carefully askew on his lofty forehead, his hands expressively illustrating his financial competence. He has published a book destined for stardom, Stress Test, and he confronts Charlie who loves to flog best sellers before they are. Tim has been here before – annually, on average – but tonight we are treated to the official word, the inside story on what we’ve accomplished since TARP, how much better the banking system is now, largely because of the astuteness of Tim Geithner himself, former Treasury Secretary.

Jun 14 10:21

Globalists Plan to Ram Through TAA Next Week

Alabama Senator Jeff Sessions warns there will be another attempt in Congress on Tuesday to push through TAA and fast-track authority.

“If that happens, it will empower the President to form a Pacific Union encompassing 40 percent of the world’s economy and 12 nations—each with one equal vote. Once the union is formed, foreign bureaucrats will be required to meet regularly to write the Commission’s rules, regulations, and directives—impacting Americans’ jobs, wages, and sovereignty,” Session says in a statement posted on his Senate web page.

Jun 14 09:53

Fast-track Hands the Money Monopoly to Private Banks — Permanently

In March 2014, the Bank of England let the cat out of the bag: money is just an IOU, and the banks are rolling in it. So wrote David Graeber in The Guardian the same month, referring to a BOE paper called “Money Creation in the Modern Economy.” The paper stated outright that most common assumptions of how banking works are simply wrong. The result, said Graeber, was to throw the entire theoretical basis for austerity out of the window.

The revelation may have done more than that. The entire basis for maintaining our private extractive banking monopoly may have been thrown out the window. And that could help explain the desperate rush to “fast track” not only the Trans-Pacific Partnership (TPP) and the Trans-Atlantic Trade and Investment Partnership (TTIP), but the Trade in Services Agreement (TiSA). TiSA would nip attempts to implement public banking and other monetary reforms in the bud.

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Jun 14 09:34

US trade bills seek to halt boycotts of Israel

The United States House of Representatives on Friday approved a measure to allow a "fast track" process for a free trade agreement between the US and Europe, which includes a section obligating EU countries to refrain from any kind of boycotts on Israeli goods.

Jun 14 09:30

Banks issue legal proceedings to repossess 50,000 homes

The move to issue legal letters to so many homeowners who are not meeting their repayments has been criticised as a "cop-out" by those who help people in arrears.

New figures provided by Central Bank Governor Patrick Honohan show that half of what is being classed as solutions for those in arrears are made up of threats to repossess homes.

The figures are for the six main banks - AIB / EBS, Bank of Ireland, Ulster Bank, KBC Bank, ACC and Permanent TSB.

Jun 14 09:17

Nicaragua canal protest: Thousands oppose Atlantic-Pacific plan

Thousands of Nicaraguans have held a protest against the planned construction of a canal linking the Atlantic and Pacific oceans. The $50bn (£32bn) scheme, being built by a Chinese firm, will be longer, deeper and wider than the Panama Canal. But the demonstrators fear it will have huge environmental costs and force thousands off their land.

Jun 14 09:04

Fast Track Trade Traitors Murderers and Enemies

he people who are attempting to inflict these deals on the US, in my opinion, meet the criteria for treason-- aiding and abetting the enemy. And if it's not clear, let me spell it out. The big corporations that would go so far in their predatory, extractive efforts cannot be considered friends or allies of the USA. They should be stripped of all the corporate welfare they receive. The legislators should be charged with treason. Obama should be charged with treason. Add it to the long list of charges which should be prosecuted against Obama. This won't happen. But at the least, every single legislator who voted for fast track and or the TPP should be primaried.

Jun 14 09:01

IMF Says It Will Continue Lending To Ukraine Even After A Default, And Why This Is Bad News For Greek Gold

So as we enter Sunday and what may well be the last possibility to get deal done before the "accidental" Grexit scenario is put in play, we thought our Greek readers would be interested to learn that while Lagarde's "apolitical" IMF is digging in tooth and nail against giving Greece even the smallest amount of breathing room, the equivalent of half an our of a typical daily Fed POMO notional amount, yesterday the same Lagarde said that the IMF "could lend to Ukraine even if Ukraine determines it cannot service its debt."

Jun 14 08:50

Writing's On The Wall: Texas Pulls $1 Billion In Gold From NY Fed, Makes It "Non-Confiscatable"

The lack of faith in central bank trustworthiness is spreading. First Germany, then Holland, and Austria, and now - as we noted was possible previously - Texas has enacted a Bill to repatriate $1 billion of gold from The NY Fed's vaults to a newly established state gold bullion depository..."People have this image of Texas as big and powerful … so for a lot of people, this is exactly where they would want to go with their gold," and the Bill includes a section to prevent forced seizure from the Federal Government.

Jun 14 08:44

'West' is Not the Charity Business: There'll Be Hell to Pay for Ukraine

While Kiev declares that it would not repay Russia's $3 billion loan or even seize Russia's assets in Ukraine, such moves may deal a heavy blow to the very foundations of international law, US economist Michael Hudson warned.

Jun 14 08:40

The Fed did have an audit


So we we gave the Fed an Audit. They secretly spent 16 TRILLION dollars. So... now what is gonna be done about it? Notice the mass media didn't touch it? The Alternative media didn't really cover it either.

Jun 14 08:19

Obama administration wants to restructure neighborhoods that are too wealthy and white

This is nothing more than a massive social engineering project, akin to ideas that have failed time and time again in countries like Cuba, China, and Venezuela. It’s failed here in the United States too in places like Decatur, Illinois and Baton Rouge, Louisiana. Why? Because poverty can’t be solved with a hand full of cash and a change in your zip code.

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Jun 13 15:34

ACLU Sees Kent County DE Court Halt Discovery and Notify Cops In Free Press First Amendment Lawsuit.


Many thanks to Publisher/Editor Bill Gunlocke for his referential Affidavit as seen on my journal page. The Court had actually posted a picture of me at the guard station..... Today with a Motion for Reconsideration I went after the Delaware Commissioner Andrea Maybee Freud (yes her real name) a Communications major who overruled standing Supreme Court ORDER allowing video in trial Courts per Rule 155 and who stayed Discovery even though the Defendants have never once answered a simple question as to what authority they believed they had to prevent me from 1) asking a question or two of the deputy or director of the Recorder of Deeds office and/or 2) running B-roll footage of La Mar Gunn pulling up fraudulent documents on the electronic fiche machine. I'll post the document Sunday but for now here is the video.

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Saturday, June 13, 2015

Jun 13 14:56

War-Weary Ukraine Shutters Cash-Starved Banks as Trust Falls

When Vasyl Klos plunked $9,000 into a bank branch in his hometown of Lviv, Ukraine, in 2013, he assumed it was safe because it was German owned. He was wrong.

Bank Forum JSC had already been sold by Commerzbank AG to Ukrainian businessman Vadim Novinsky, a fact Klos only found out as he completed the deposit. He decided it was too late to back out, but within a year, Forum was declared insolvent and the cash was returned to him in hryvnia, whose later plunge cut the value of his original deposit by about half. The experience has left him poorer, but wiser.

“I’m not going to open any more deposit accounts until the economy stabilizes,” said Klos, a 33-year-old field researcher. “And even then, I would only put money in a foreign-owned bank.”

Jun 13 13:54

How I Beat A Cell Phone Ticket In California

On the first day of July 2008 I received a 'cell phone ticket' from a cop who felt it necessary to use his siren to pull me over. It was the first day the law went into effect, and police throughout California didn't waste any time searching for offenders. We must exert our presumption of innocense and make them follow their own laws regarding due process. After all, these revenue agents "love the law" so much, right? Yeah, sure.

Jun 13 12:15

Athens homeless tops 17,000

A study carried out by the University of Crete estimated the number of homeless in Athens alone at 17,720 people, many of them sleeping on the street or in their cars.

Jun 13 09:30

Shoplifting and Government Plunder

"Is shoplifting an issue?" I asked.

"Oh, you wouldn't believe the amount of theft. Or from local government either."

"What?"

"I got my annual property tax bill in the mail, expecting the usual $10. They'd jacked it up to $450."

"What?!" I was feeling like an echo chamber.

"Yeah. I keep an acre in alfalfa for a couple horses, but I hadn't sold any hay for awhile. So they pulled my agriculture exemption.

"My neighbors on fixed income can't pay the increase; aren't not able to work the land like they used to. Kids have moved away. They're looking at having to sell off land that's been in the family for generations or hundreds of years. To pay this stupid tax."

Jun 13 09:19

JW Beats IRS in Court

Calling all conservative activists, citizens and groups who were silenced and harassed by the Obama Internal Revenue Service in the run-up to the 2012 elections and beyond — you should know that we have moved a few steps closer to holding the Obama administration accountable for its criminal misuse of the federal tax-collecting agency.

We are pleased to announce that Judge Emmet Sullivan of the U.S. District Court for the District of Columbia granted a Judicial Watch request to issue an order requiring the IRS to provide answers by June 12, 2015, on the status of the Lois Lerner emails the IRS had previously declared lost. Judicial Watch raised questions about the IRS’ handling of the missing emails issue in a June 2 court filing, demanding answers about Lois Lerner’s emails, which had been recovered from backup tapes. Judge Sullivan issued the court order on June 4, 2015.

Jun 13 09:17

Billionaire Bunkers: Exclusive Look Inside the World's Largest Planned Doomsday Escape

For the very first time, a modern day Noah’s Ark has opened its doors for an exclusive inside look offering up plans for the ultimate Billionaire bunker and doomsday escape.

Vivos founder and CEO Robert Vicino announced Vivos Europa One which will be an invitation only, five star, underground survival complex, similar to an underground cruise ship for the elite. Each family will be provided a private 2,500 square foot of floor area, capable of two story improvements for a total of 5,000 square feet of private living quarters. With fit and finish comparable to a mega-yacht, each member family will hire their own architect and contractor to build out their living quarters to the custom standard they desire.

Webmaster's Commentary: 

After the collapse we can just cement over all the money-junkies' bunkers.

Jun 13 08:41

Norwegian pension fund divests from Israeli occupation

Norway's largest pension fund has excluded two companies "on the grounds of their exploitation of natural resources in occupied territory on the West Bank."

KLP, which manages a US$70 billion investment portfolio, formally excluded Heidelberg Cement and Cemex on June 1, following a period of investigation and engagement. The combined worth of KLP's shareholdings in both HeidelbergCement and Cemex was approximately $5 million.

Heidelberg Cement and Cemex, leading global suppliers of building materials, operate quarries in the West Bank through their respective Israeli subsidiaries. According to KLP, "the companies pay licence fees and royalties to the state of Israel" while "the products deriving from the quarries are sold primarily for use in Israel's domestic construction market."

Jun 13 08:20

How Companies Mask Runaway Inflation

Do you feel like you’re running out of pepper more often these days?

Or maybe you recently realized that no, you are not in fact sweating more, the deodorant sticks you’ve been buying for years have simply gotten smaller lately.

Or worst of all, have you noticed that Slim Jims have gotten shorter?

If any of the above applies, rest assured it is not your imagination, it is simply a symptom of corporate America attempting to hide runaway inflation — you know, that runaway inflation which the Fed has certainly not created by running the printing presses at full tilt for five years.

Known as “weight out” in the corporate world and “slack fill” in litigation, it’s a simple strategy that’s been readily apparent in bags of potato chips for years and although it can, in some instances, get companies sued, that’s nonetheless preferable to eating the cost of higher input prices.

Jun 13 08:14

The War On Cash: Officially Sanctioned Theft

Jun 13 05:37

Secret War on Cash: “Discussions at Bilderberg Centered Around Capital Controls, Abolition of Cash”

The world’s elite are meeting in secret this week at the Bilderberg meeting, set at a luxury resort in Telfs-Buchen, Austria.

Investigative journalists have confirmed that the private discussions among top power brokers across the globe include arrangements to restrict currency and penalize – or ultimately even ban – cash.

Read more at SHTFplan.com

Jun 13 03:43

Currency Wars Claim Another Victim

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