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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...

Tens of thousands protest against cuts in Madrid

AFP June 19, 2011 Tens of thousands of protesters flooded the streets of Madrid Sunday blaming bankers and politicians for causing a financial crisis that forced the country to adopt painful spending cuts. Demonstrators of all ages linked to a protest movement called the “indignants” assembled early Sunday in several neighbourhoods on the outskirts of Madrid. They then formed six columns and converged on the city centre, gathering near ...Read full article...

Consolidating US Money Power: The Four Horsemen of Global Banking

By Dean Henderson Global Research May 25, 2011 If you want to know where the true power center of the world lies, follow the money – cui bono.  According to Global Finance magazine, as of 2010 the world’s five biggest banks are all based in Rothschild fiefdoms UK and France. They are the French BNP ($3 trillion in assets), Royal Bank of Scotland ($2.7 trillion), the UK-based HSBC Holdings ...Read full article...

In their own words: “Banks are Government Sponsored Entities”

Reuters April 12, 2011 Big banks like Bank of America Corp and Citigroup Inc should be reclassified as government-sponsored entities and have their activities restricted, a senior Fed official said on Tuesday. The 2008 bank bailouts at the height of the financial crisis and other implicit guarantees effectively make the largest U.S. banks government-guaranteed enterprises, like mortgage finance companies Fannie Mae and Freddie Mac, said Kansas City Fed President ...Read full article...

Reaping What Bretton Woods Has Sown

The International Forecaster April 2, 2011 The seeds of today’s monetary problems were laid at Bretton Woods, NH in 1944, as a combination of socialists, communists and fascists laid the groundwork for the IMF, the World Bank and the eventual elimination of gold from the monetary world. The Federal Reserve’s role was to bring that about from behind the scenes. In the intervening years in order to move toward ...Read full article...

IMF calls for Alternative Reserve Currency, Again

CNNMoney February 11, 2011 The International Monetary Fund issued a report Thursday on a possible replacement for the dollar as the world’s reserve currency. The IMF said Special Drawing Rights, or SDRs, could help stabilize the global financial system. SDRs represent potential claims on the currencies of IMF members. They were created by the IMF in 1969 and can be converted into whatever currency a borrower requires at exchange ...Read full article...

In the U.S. Banks repossessed 1 million homes in 2010

AFP The bleakest year in foreclosure crisis has only just begun. Lenders are poised to take back more homes this year than any other since the U.S. housing meltdown began in 2006. About 5 million borrowers are at least two months behind on their mortgages and more will miss payments as they struggle with job losses and loans worth more than their home’s value, industry analysts forecast. “2011 is ...Read full article...

Is 2011 the Year of the Bank Run?

CNN Money Some market watchers say yes, pointing ominously to the torrents of money pouring out of Ireland. Irish bank deposits declined in November for the fourth straight month, the central bank said last week. Overseas deposits fled the country at their fastest pace in more than a year. The deposit flight compounds the stress on a financial system whose massive property-lending losses already have driven the government to accept an ...Read full article...

The second debt storm

Who will bail out the countries that bailed out the world’s corporations? Market Watch The debt mountain that brought down some of the world’s biggest banks and dragged the international financial system to the brink of disaster has simply shifted to governments. Now it’s threatening countries around the globe — and, if left unchecked, could rip the very fabric of Europe’s economic system and wreck economic recoveries in the ...Read full article...

Why is Rahm Emanuel Defending the Federal Reserve?

RT President Barack Obama’s campaign pledge was to defend the little guy. So why is Rahm Emanuel, the White House Chief of Staff,against auditing the Federal Reserve Bank? Long before the financial crisis of 2007 crashed across the planet, a soft-spoken Congressman from Texas was leading a one-man campaign that would force the Federal Reserve Bank to crack open its dusty books for an annual public inspection. Ron Paul, ...Read full article...
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