Source – alternet.org – The White House has rejected a bailout package for Puerto Rico days after the U.S. territory failed to pay a small portion of the massive $72 billion it owes to bondholders. It was the biggest municipal bond default in U.S. history. Unlike U.S. states and municipalities, Puerto Rico cannot declare bankruptcy.…
Source – dissidentvoice.org – About 75% of US employees work 40 hours or longer, the second longest among all OECD countries, exceeded only by Poland and tied with South Korea. In contrast, only 10% of Danish workers, 15% of Norwegian, 30% of French, 43% of UK and 50% of German workers work 40 or more…
Source – lionsgroundnews.com – Last Thursday, June 18th –was exactly 200 years ago that Napoleon’s troops were defeated, and the era of Napoleon forever ended. South of Brussels near the town of Waterloo the French ruler battled against British, German and North and South Dutch soldiers. The real winner of the battle of Waterloo have…
Source – davidstockmanscontracorner.com – If you want a cogent metaphor for the central bank enabled crack-up boom now underway on a global basis, look no further than today’s scheduled chapter 11 filling of met coal supplier Alpha Natural Resources (ANRZ). After becoming a public company in 2005, its market cap soared from practically nothing to $11 billion exactly four years…
Source – benjaminfulford.typepad.com, Posted September 13, 2011 – Although a decade of research has proven a high level cabal at the top of the Western power structure was behind the 911 terror attacks, few realize the attack was an esoteric battle in a war for control of the global financial system. Fewer still realize the…
Source – – The Merriam-Webster online dictionary defines an ‘oligarchy’ as: “A government in which a small group exercises control especially for corrupt and selfish purposes.” Former President Jimmy Carter had some choice words for our form of government, post-Citizen’s United, on my radio program this week.. When I asked him his thoughts on the…
Source – occupy.com, By Matt Stannard – It’s hard being a big private bank these days. Ongoing awareness of the role that Goldman Sachs played in the Greek debt crisis; that Greek voters said no to Europe’s harsh austerity demands; recent revelations of unreasonably high fees and interest rates for lending to municipalities, and the role…
Source – emergingequity.org – 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%…
Source -libertyblitzkrieg.com – Before I get into the meat of this post, I want to make it clear that just because I point out the following doesn’t mean I like tax and think we need more of it. Rather, there are two main points I want to get across. 1) Oligarchs create tax loopholes for…
Source – theeconomiccollapseblog – Most Americans do not understand what the Federal Reserve is or why it is at the heart of our economic problems. When Americans get into discussions about the economy, most of them still blame either the Democrats or the Republicans for inflation, for the housing crash, for our rampant unemployment and…
Source – peakprosperity.com – You really have to be paying attention to see what’s truly going on these days. The keepers of the system, that is the banking elites, now openly control everything — though you’d never know that by listening to the media. Consider this: Eurozone backs €7bn bridging loan Jul 16, 2105 Eurozone ministers…
Source – globalresearch.ca – An historic betrayal has consumed Greece. Having set aside the mandate of the Greek electorate, the Syriza government has willfully ignored last weeks landslide No vote and secretly agreed a raft of repressive, impoverishing measures in return for a bailout that means sinister foreign control and a warning to the world.…
Source – tapnewswire.com – Greece is only the beginning. Greeks driven out of their country by the collapsed economy, demise of the social welfare system, and extraordinary rate of unemployment will take their poverty to other EU countries. Members of the EU are not bound by national boundaries and can freely emigrate. Closing down the…
Source – theguardian.com – after a weekend of “gunboat diplomacy”, Yanis Varoufakis was on course on Monday night to sway radical-leftist Syriza MPs to accept the most draconian rescue of a sovereign nation since the second world war. Also Read: Treaty of Versailles – The Road to Hitler http://www.academia.edu/1830319/Treaty_of_Versailles_The_Road_to_Hitler Tsipras, locked in fraught negotiations with…
Source – charleshughsmith.blogspot.ca – With authentic growth scarce, there’s no other way to reap huge profits but cannibalism. When people say “capitalism has failed” or “capitalism has succeeded,” we have to ask: what type of capitalism do you mean? Authentic capitalism, in which capital is placed at risk to earn a return in a competitive, transparent…
Source – rollingstone.com – “Barack Obama’s former top cop cashes in after six years of letting banks run wild”: – Eric Holder has gone back to work for his old firm, the white-collar defense heavyweight Covington & Burling. The former attorney general decided against going for a judgeship, saying he’s not ready for the ivory…
Source – zerohedge.com – There is democratic capitalism, and there is fascist capitalism. What we have today is fascist capitalism; and the following will explain how it works, using as an example the case of Greece. Mark Whitehouse at Bloomberg headlined on 27 June 2015, “If Greece Defaults, Europe’s Taxpayers Lose,” and presented his ‘news’ report, which…
Source – theeconomiccollapseblog.com, By Michael Snyder – Central banking has truly taken over the entire planet. At this point, the only major nation on the globe that does not have a central bank is – North Korea. Yes, there are some small island countries such as the Federated States of Micronesia that do not have…
Source – naturalnews.com – Demonstrating America’s extreme vulnerability to activist-driven hackers who are trying to make a point, the New York Stock Exchange was shuttered for most of the day yesterday, stalling out hundreds of billions of dollars in trades. The lying mainstream media, of course, has rolled out a pathetic (yet hilarious) cover story…
Source – john-f-kennedy.net – Both Presidents’ Lincoln and Kennedy sacrificed their lives in an effort to turn the tables on the Money Changers (international banksters). With the issuance of usury-free money, their actions succeeded in bringing prosperity back to the nation for a briefly, cut short only by the criminal and ruthless actions of the international banking cartel, who were ultimately responsible for the assassinations of…
Source – washingtonsblog.com – “If people were really self-interested, they would stop trying to be individualistic.” – John B. Cobb, founder of Seizing an Alternative conference (and here, videos here) Economic Hitman John Perkins’ 2-minutes on today’s neo-colonialism capitalism: Demonocracy’s 2-minutes on what the US national debt looks like if shown in actual amounts of…
Source – voltairenet.org – The current debate about the Greek debt has given rise to all sorts of threats, first of all against Tsípras’ government, then against the Greek voters. Without becoming involved in a discussion of the repugnant side of this affair, Thierry Meyssan observes the international campaign against Greece leaving the Euro zone.…
Source – veteranstruthnetwork.com – Former Florida Governor and 2016 presidential hopeful Jeb Bush may have thought he could pass himself off as “Hispanic” when he ticked off that ethnic option on his 2009 voter registration form but he was not able to easily pass himself off as a “banker” in Venezuela in the late 1970s.…
Source – zerohedge.com – As we said earlier today, following today’s dramatic referendum result the Greeks may have burned all symbolic bridges with the Eurozone. However, there still is one key link: the insolvent Greek banks’ reliance on the ECB’s goodwill via the ELA. While we have explained countless times that even a modest ELA…
Source – theeconomiccollapseblog.com – Keep an eye on the shadow banking system – it is about to be shaken to the core. According to the Financial Stability Board, the size of the global shadow banking system has reached an astounding 75 trillion dollars. It has approximately tripled in size since 2002. In the U.S. alone,…
Source – steadystate.org – A Great Example of Free Trade – On the 9th of May 2000, Bill Clinton in his presidential speech was selling the merits of allowing China to join the World Trade Organization (WTO) to the American people. “If you believe in a future of greater openness and freedom for the people…
Source – commondreams.org – Alexis Tsipras, the prime minister of Greece, has called a national referendum this Sunday to call the bluff of the European Union and International Monetary Fund who are trying to force his country to accept severe austerity in return for effectively rolling over much of the countries’ debt. Today Greece owes…
Source – zerohedge.com – In perhaps the best example of just how massive the impact of returns to shareholders have become, Deutsche Bank shows a snapshot the S&P’s consolidated income statement as of 1995 and 2015. While there are some clearly material changes transformations: the rise of financials’ revenues above energy companies for one, the…
Source – constantinereport.com – “… The lawmaker [said] that his bill, if adopted, could make Russians reluctant to purchase these companies’ products and stop Western companies from ‘corrupting’ Russian officials. …” A Russian lawmaker has proposed legislation that would require the commercials of foreign companies that once fostered ties with Nazi Germany to contain notices about their somber past, the Izvestia…
Source – bloomberg.com – Tom Hayes told prosecutors in 2013 that UBS Group AG distributed “an instruction manual on fixing Libor” to suit their trading positions. The Swiss bank’s e-mailed “Guide to Publishing Libor Rates,” which was shown to jurors by prosecutors in London Thursday, included an instruction for traders to adjust their submissions depending on…
Source – theguardian.com – UK and wealthy states revel in their generosity while allowing their companies to plunder Africa’s resources, say NGOs Western countries are using aid to Africa as a smokescreen to hide the “sustained looting” of the continent as it loses nearly $60bn a year through tax evasion, climate change mitigation, and the…
Source – forbes.com – After Iceland suffered a heavy hit in the 2008-2009 financial crisis, which famously resulted in convictions and jail terms for a number of top banking executives, the IMF now says the country has managed to achieve economic recovery—“without compromising its welfare model,” which includes universal healthcare and education. In fact, Iceland…
Source – wealthdigg.com – 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. First, for purposes of drawing a parallel, let’s…
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