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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...

European Union Sets Banking Takeover for 2013

By LUIS MIRANDA | THE REAL AGENDA | OCTOBER 19, 2012 The Heads of State and the Government of the European Union (EU) agreed Thursday to create a single banking supervisor. The entity should be ready next December and it will gradually begin its takeover of the banking system during 2013. The EU leaders confirmed their commitment last June to create a bank union, which would work under the ...Read full article...

You know that Money on your Bank Account? Well, it’s not Yours

By SUSANNE POSEL | OCCUPY CORPORATISM | AUGUST 24, 2012 In June of 2012, Eric Bloom, former chief executive, and Charles Mosely, head trader of Sentinel Management Group (SMG) were indicted for stealing $500 million in customer secured funds. Both Mosely and Bloom were accused of “exposing” customer segregated funds “to a portfolio of highly risky derivatives.” These customer funds were used to “back up personal investments” which were ...Read full article...

U.S. Banks told to make plans for Financial Collapse

By RICK ROTHACKER | REUTERS | AUGUST 10, 2012 U.S. regulators directed five of the country’s biggest banks, including Bank of America Corp and Goldman Sachs Group Inc, to develop plans for staving off collapse if they faced serious problems, emphasizing that the banks could not count on government help. The two-year-old program, which has been largely secret until now, is in addition to the “living wills” the banks ...Read full article...

Banks Can No Longer Hide the Collapse

By LUIS MIRANDA | THE REAL AGENDA | MAY 16, 2012 It’s been at least four years since the current financial collapse began. Back in 2008, when the crisis was already taking shape, the banks supported by international financial institutions such as the IMF, World Bank, Bank of Europe, Bank of England and the US Federal Reserve did not hesitate to calm everyone down saying that the earliest signs of a global ...Read full article...

More money for Banks as BoE keeps interest rates at 0.5%

AGENCE FRANCE PRESSE | APRIL 18, 2012 Bank of England policymakers all voted in favour of holding interest rates at a record low earlier in April, while one member called for more stimulus cash, the BoE said on Wednesday. Minutes from the central bank’s Monetary Policy Committee (MPC) meeting on April 4-5 showed that the nine policymakers voted to keep the key lending rate at 0.50 percent, where it ...Read full article...

Greek Parliament approves Austerity Package

While the Greek government surrendered to the IMF and World Bank demands for more spending cuts, the streets of Athens saw an increase in protests with thousands of citizens taking on police. Associated Press June 29, 2011 Greece’s lawmakers approved a key austerity bill Wednesday needed to avert default, despite a second day of rioting on the streets of Athens that left dozens of police and protesters injured. The ...Read full article...
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