|Tuesday, October 23, 2018
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Economy

Gangster State America. “Naked Short” in the Gold Market

There are many signs of gangster state America. One is the collusion between federal authorities and banksters in a criminal conspiracy to rig the markets for gold and silver. My explanation that the sudden appearance of an unprecedented 400 ton short sale of gold on the COMEX in April was a manipulation designed to protect the dollar from the Federal Reserve’s quantitative easing policy has found acceptance among gold ...Read full article...

Mass Poverty, Social Inequality and the Thirdworldization of America

Center for Economic and Policy Research co-director Dean Baker calls poverty America’s “new growth industry.” The state of today’s America is deplorable. In his latest May 3 analysis, economist John Williams said “April “employment and unemployment data were nonsense: the economy remains in serious trouble.” About 23% of Americans wanting work can’t find it. Most jobs are temp or part-time low pay/poor or no benefit service ones with no ...Read full article...

European Central Bank to use fake money for more bailouts

The European Central Bank (ECB) is ready to buy bad debts weighing in Southern countries in an attempt to end the fragmentation in the eurozone and boost funding to the SMEs, as confirmed by the German representative on the board of the entity, Jörg Asmussen . “It’s part of the debate on lending to SMEs,” Asmussen said when asked about the measure, which was conducted by Expansion. The ECB ...Read full article...

Europeans still expect the worst of the crisis to come

Most Europeans believe that the crisis will worsen next year. Despite the official message that economies clearly begin to grow next year, people still believe that the worst is yet to come, according to a European survey conducted in April by Ipsos and Publicis. At the head of pessimism are the French with 73% of them who believe things will get worse and, paradoxically, the Spanish are the most ...Read full article...

Portuguese People to Retire later and Work Longer

When Prime Minister Pedro Passos Coelho announced a solemn televised address in the evening the Portuguese cross their fingers. No wonder, because usually these kind of addresses bring very bad news. On Friday, Passos Coelho announced the continuation of the governments plans to impose more austerity and to reduce government services to the population. He presented a looming new wave of cuts and restrictions that will last at least ...Read full article...

A Greater Threat Than Terrorism: Offshore Outsourcing of American Jobs

Is offshore outsourcing good or harmful for America? To convince Americans of outsourcing’s benefits, corporate outsourcers sponsor misleading one-sided “studies.” Only a small handful of people have looked objectively at the issue. These few and the large number of Americans whose careers have been destroyed by outsourcing have a different view of outsourcing’s impact. But so far there has been no debate, just a shouting down of skeptics as “protectionists.” ...Read full article...

American monetary hegemony is supported by the custody of foreign Gold

Germany is repatriating its gold reserves from the New York Federal Reserve. This decision has created a frenzy in the gold market. But that is just the tip of the iceberg. According to the NY Fed, there are (2012) approximately 530,000 gold bars, with a combined weight of circa 6,700 metric tonnes stashed away in the Fed’s Lower Manhattan vaults. These are official figures which are impossible to verify. ...Read full article...

Why will all bank deposits be raided?

Because bankers cannot be prosecuted for breach of trust I challenge anyone to prove me wrong that confiscation of bank deposits is legalized daylight robbery Bank depositors in the UK and USA may think that their bank deposits would not be confiscated as they are insured and no government would dare embark on such a drastic action to bail out insolvent banks. Before I explain why confiscation of bank ...Read full article...

United Kingdom downgraded to AA+

Fitch Ratings has downgraded the United Kingdom’s Long-term foreign and local currency Issuer Default Ratings (IDR) to ‘AA+’ from ‘AAA’. The Outlook is Stable. At the same time, the agency has affirmed the UK’s Short-term foreign currency rating at ‘F1+’ and the Country Ceiling at ‘AAA’. The rating actions follow the conclusion of the review of the UK’s sovereign ratings initiated on 22 March and resolve the Rating Watch ...Read full article...

The Bankers are the Saviors says IMF Director

The Managing Director of the International Monetary Fund (IMF), Christine Lagarde, said today that the real heroes of the economic crisis that erupted in 2008 are not heads of state and finance ministers but central bankers. “Who have been heroes since the crisis began,” said Lagarde to start a two-day seminar on macroeconomic policies at the headquarters of the International Monetary Fund and in the framework of the joint ...Read full article...

German plan seeks to tax Europeans to finance bailouts

Senior advisers to Chancellor Angela Merkel are pushing for better-off households to pay towards the cost of any future bail-outs for the weaker members of the single currency. The proposals, from members of Germany’s council of economic experts, raise the prospect of taxes being imposed on property in a country like Spain if its government was forced to seek a bail-out. The council, known as the “Five Wise Men”, ...Read full article...

Austerity cripples Portugal

Health inspectors are not doing their job because they have no money to pay for gasoline and tolls, while financial inspectors refuse to work because they have to pay for gasoline out of pocket and do not know if they will get the money back. In some universities, research projects and food for the cafeterias have run out of funding. In the administration of justice “any imponderable” as a ...Read full article...

U.S. Economic Future: “I Suspect They’ll Take The Pension Plans Next” says Jim Rogers

I was able to reconnect for an interview with legendary Quantum Fund manager and commodities bull, Jim Rogers. This was an especially groundbreaking interview, as Jim shared thoughts on what governments around the world will be taking next, and what he’s doing right now to protect his personal bank accounts following the Cyprus collapse. Speaking towards the frightening implications of the Cyprus banking collapse, Jim said that, “It’s been condoned by the ...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...

The IMF secures its slice of Cyprus by ‘contributing’ to its bailout

The International Monetary Fund (IMF) said today in Brussels that its contribution to the bailout of Cyprus will be of 1,000 million euros (1,340 million dollars). Confirmation of the figure that was so far a speculation comes a day after Nicosia closed the bailout terms with its creditor -the troika- which is composed by the IMF, the European Central Bank and the European Commission. The IMF’s board communicated that ...Read full article...