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$1.5 Quadrillion Time Bomb

When investing becomes gambling, bad endings follow. The next credit crunch could make 2008-09 look mild by comparison. Bank of International Settlements(BIS) data show around $700 trillion in global derivatives. Along with credit default swaps and other exotic instruments, the total notional derivatives value is about $1.5 quadrillion – about 20% more than in 2008, beyond what anyone can conceive, let alone control if unexpected turmoil strikes. The late ...Read full article...

Tsipras does not believe in the Rescue

After mortgaging the lives of millions of Greek people and many more that are yet to be born, Alexis Tsipras now says the third financial rescue is not a good deal. Prime Minister of Greece, Alexis Tsipras, has acknowledged tonight that he “was forced” to accept a deal with partners he did not believe in on Monday, though he has committed himself to implement it, assuming “full responsibility” for ...Read full article...

Are Big Banks Using Derivatives To Suppress Bullion Prices?

We have explained on a number of occasions how the Federal Reserves’ agents, the bullion banks (principally JPMorganChase, HSBC, and Scotia) sell uncovered shorts (“naked shorts”) on the Comex (gold futures market) in order to drive down an otherwise rising price of gold. By dumping so many uncovered short contracts into the futures market, an artificial increase in “paper gold” is created, and this increase in supply drives down ...Read full article...

Greece should not seek a third bailout of the banks

The most likely outcome from the meetings that Alexis Tsipras will hold with the Troika will be a third financial bailout of German and French banks, which would mean more austerity policies and cuts for the Greek people. A third financial rescue is the only option that would favor both sides. It would help Greece access liquidity from the European Central Bank, avoid its exit from the eurozone and ...Read full article...

Banks buy their way out of Currency Manipulation Scandal

It is the second reprimand in less than six months against five major multinational banks for currency manipulation. The Department of Justice of United States and the Federal Reserve closed a deal with five of the largest banks in the world, which will be fined $ 5.7 billion dollars for having manipulated currency exchange rates for five years. It is the second reprimand derived from in less than six ...Read full article...

Sixty Billion are not Enough to save Europe

As we explained earlier this week, poverty, misery and underdevelopment are not challenges that are impossible to overcome. We also explained that it has been the unlawful rules imposed by unaccountable supranational organizations the ones responsible for the poverty, misery and underdevelopment we are experiencing today and that the current global governors who have been in power since after WWII are not truly interested in ending poverty, misery and ...Read full article...

Panic in Financial Markets prompts more Bank and Government Bailouts

The ECB decided yesterday to buy more Spanish securitized private debt or ABS, corporate bonds or mortgage-backed securities and loans of various types, something that had never done before bonuses. Bloomberg spread the news at noon, adding that the entity chaired by Mario Draghi had given the order to buy French mortgage bonds maturing in the short term at Societe Generale and BNP Paribas and various Spanish institutions whose ...Read full article...

Global Capitalism Has Written Off The Human Race

Economic theory teaches that free price and profit movements ensure that capitalism produces the greatest welfare for the greatest number. Losses indicate economic activities where costs exceed the value of production, thus investment in these activities is curtailed. Profits indicate economic activities where the value of output exceeds its cost, thus investment increases.  Prices indicate the relative scarcity  and value of inputs and outputs, thus serving to organize production ...Read full article...

How Economists and Policymakers Murdered Our Economy

The economy has been debilitated by the offshoring of middle class jobs for the benefit of corporate profits and by the Federal Reserve’s policy of Quantitative Easing in order to support a few oversized banks that the government protects from market discipline. Not only does QE distort bond and stock markets, it threatens the value of the dollar and has resulted in manipulation of the gold price. See http://www.paulcraigroberts.org/2014/01/17/hows-whys-gold-price-manipulation/ ...Read full article...

The Inside Story of Gold Price Manipulation

The deregulation of the financial system during the Clinton and George W. Bush regimes had the predictable result: financial concentration and reckless behavior. A handful of banks grew so large that financial authorities declared them “too big to fail.”  Removed from market discipline, the banks became wards of the government requiring massive creation of new money by the Federal Reserve in order to support through the policy of Quantitative ...Read full article...

Nobody Should Shed a Tear for JP Morgan Chase

Was Bernie Madoff’s pyramid scheme really so different from what some of the biggest banks have done? A lot of people all over the world are having opinions now about the ostensibly gigantic $13 billion settlement Jamie Dimon and JP Morgan Chase have entered into with the government. The general consensus from most observers in the finance sector is that this superficially high-dollar settlement – worth about half a year’s profits ...Read full article...

Hiding Economic Depression With Spin

Time is running out for the US economy and the American people.  The financial press and economic commentators, with few exceptions, do a good job of keeping this fact from the public. Consider for example the spin put on the “advance estimate” of the real GDP growth rate for the second quarter announced on July 31. The annual rate of 1.7 percent real GDP growth for the second quarter ...Read full article...

Another World Bank insider exposes banker network of financial corruption

After Joseph Stiglitz and a separate analysis about The Network of Global Corporate Control, another confirmation that the world is managed by a small group of central bankers has come to light by a group of World Bank whistleblowers. A former insider at the World Bank, ex-Senior Counsel Karen Hudes, says the global financial system is dominated by a small group of corrupt, power-hungry figures centered around the privately ...Read full article...

The Confiscation of Bank Savings to “Save the Banks”

Is the Cyprus Bank “Bail-in” a “dress rehearsal” for things to come? Is  a “Savings Heist” in the European Union and North America envisaged which could result in the outright confiscation of bank deposits? In Cyprus, the entire payments system has been disrupted leading to the demise of the real economy. Pensions and wages are no longer paid. Purchasing power has collapsed. The population is impoverished. Small and medium ...Read full article...

Do you want a recovery? Let the foreign banks fail

By LUIS MIRANDA | THE REAL AGENDA | OCTOBER 24, 2012 Although the financial crisis is said to have begun in 2008, its actual inception started many years before. As explained yesterday, the so-called recovery that almost every politician says governments are seeking is a sham. There are no plans drawn to have a recovery of the kind spoken of on the main stream media. In fact, it is ...Read full article...
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