American Cops Now Steal More Property Than All US Burglars Combined

By Matt Agorist For decades now, federal government and their cohorts in law enforcement have been carrying out theft of the citizenry on a massive scale. We’re not talking about taxes, but an insidious power known as Civil Asset Forfeiture (CAF). The 1980s-era laws were designed to drain resources from powerful criminal organizations, but CAF has become a tool for law enforcement agencies across the U.S. to steal money and property from countless innocent people. No criminal charge is required for this confiscation, resulting in easy inflows of cash for law enforcement departments and the proliferation of abuse. This phenomenon is known as “policing for profit.” In the last 25 years, the amount of “profit” stolen through CAF has skyrocketted. According to the US Department of Justice, the value of asset forfeiture revoceries by US authorities from 1989-2010 was $12,667,612,066, increasing on average 19.5% per year. In 2008, law […] Read More

Mexico Bracing for Massive Default That Could Set Off Global Debt Bomb: “Perversely Ironic Twist”

The debt avalanches. Once it accumulates enough mass, and momentum is not sufficient to stop its collapse, it overwhelms its host, and will come crashing down on the rest of the system, too. Across the planet, there are hundreds of governments – local, state and national – as well as business and households who are reaching a breaking point. Already drowning in debt, many are about to default on loan repayments, and thus set off a series of debt crises that will be met with market chaos and a tightening of easy credit for those who are most vulnerable to implosion. With Puerto Rico also timed for a major default that will burden the United States, Mexico is ready to crash, and bracing for impact. Its biggest construction firm, which has been dependent upon government contracts that are now drying up, is facing default on a $31 million interest […] Read More

Dr. Marc Faber: Markets Are Manipulated By Clowns In Central Banks (VIDEO)

I had the good fortune to sit down with Dr. Marc Faber, Economist and Market Forecaster, publisher of GloomBoomDoom Report to discuss the current state of economic affairs from a global perspective. We touched on the failures and criminality that have become U.S. economic policy and how this is impacting the rest of the world. We also discussed how the Eastern world is rapidly taking over every aspect of commerce, finance and economics the world over. The economic situation we find ourselves is very delicate at this time. We have major economies, like the U.S. and Europe, that are either at a standstill or in a full blown recession/depression. It really depends on which set of numbers one uses as a guide. Most of the government statistics are either “massaged” or simply made up to fit the political agenda of the day. With this being the case, on a […] Read More

The Number of Americans Living on Less Than $2 a Day Is Skyrocketing

Research shows 1.5 million households and 3 million children are living in desperate economic conditions. The World Bank and other global institutions use a very specific measure to record global poverty rates. They gather data designed to record the number of people in a country who live on less than $2 a day, and then use the information to make a “poverty headcount ratio”— the percentage of people in a country who live under this standard. In most recent data, Sierra Leone, for example, had a staggering 82.5% of its citizens living in poverty by this count. What is less known is that millions of Americans are living in situations of similar poverty. A new book, $2.00 a Day: Living on Almost Nothing in America, explores the status of Americans who face this extreme level of poverty “Most of us would say we would have trouble understanding how families in a […] Read More

Number Of “Ultrapoor” Americans Has Doubled Since 1996

If you’ve been paying attention to the economy for the past seven years or so, you’ve probably been wondering when the whole charade is going to come crashing down. When will all of those inflated markets and debts reach their apex, and start crumbling under the weight of economic reality, and leave us all destitute? There have been plenty of predictions, but none have truly come to fruition. Well the truth of the matter is that there may not be a single day when everything grinds to a halt, and there’s plenty of evidence to suggest that our standard of living is crumbling in slow motion. For many Americans the end has already arrived, and their ranks are growing a little more every day. In fact, the number of Americans that are earning what amounts to a third world wage, has doubled over the past 20 years. The number […] Read More

US to slap Chinese ‘cyber-plunderers’ with economic sanctions

The US is to impose economic sanctions against Chinese companies and individuals they believe to have profited from cyber espionage against America, reports the Washington Post. The sanctions may come shortly after China’s President Xi Jinping’s visit next month. The sanctions are reportedly being prepared under an authority issued by President Barack Obama in an April executive order that allows asset freeze and block of trade interactions with perpetrators of cyber espionage. “It sends a signal to Beijing that the administration is going to start fighting back on economic espionage, and it sends a signal to the private sector that we’re on your team. It tells China, enough is enough,” a US government official told the newspaper. The US Department of State has neither confirmed nor denied that the sanctions are being planned. “I can’t say anything about the sanctions,” State Department spokesman Mark Toner said, adding that “the […] Read More

Robert Reich: In the New Economy, Workers Take on All the Risk

More Americans than ever don’t know what they’ll be earning next week. That’s why we need income insurance. As Labor Day looms, more Americans than ever don’t know how much they’ll be earning next week or even tomorrow. This varied group includes independent contractors, temporary workers, the self-employed, part-timers, freelancers, and free agents. Most file 1099s rather than W2s, for tax purposes. On demand and on call – in the “share” economy, the “gig” economy, or, more prosaically, the “irregular” economy – the result is the same: no predictable earnings or hours.  It’s the biggest change in the American workforce in over a century, and it’s happening at lightning speed. It’s estimated that in five years over 40 percent of the American labor force will have uncertain work; in a decade, most of us. Increasingly, businesses need only a relatively small pool of “talent” anchored in the enterprise –  innovators and strategists responsible for the […] Read More

Will the Fed Hesitate? “Everything is Too Vulnerable” for Rate Change, Says Ron Paul

The system is teetering on edge, and nearly everyone in the financial sector is waiting for one decision – will the Fed finally raise rates? Ron Paul has made a bold prediction that the Federal Reserve likely will NOT raise interest rates, something which would have enormous consequences in the market, because it is hesitant to do so with so many negative risk factors the market already faces. Fed Chair Janet Yellen – and most in the financial sector – know how much is impinging upon the possible decision to raise rates after years and years of quantitative easing have pushed the limits of stimulating the economy. According to CNBC: By Paul’s reasoning, the Fed is too scared to raise interest rates in the middle of an already weak recovery and risk sending the U.S. economy back into recession, or worse… The Fed chief “does not want to be […] Read More

“Enduring Appeal of Cold, Hard Cash”: Facing Crisis, Demand for Physical, Not Digital, Money

The cashless control grid may still be coming, but it is not going to replace cash anytime soon. Though millions of people have started using digital devices to pay for goods and services, the appeal of physical cash is soaring, not fading away. Outlook for currency production shows an astounding 5 per cent increase per year for the foreseeable future in the printing of bank notes for currencies across the globe. That’s because, in pure and simple terms, people are demanding cash in times of crisis, and there is plenty of crisis ahead. Greece is the perfect example of what may be coming to your neck of the woods – perhaps even when you least expect it. According to FT: One reason for the enduring appeal of cold, hard cash is the global economic downturn. Giesecke & Devrient expects banknote production to rise by 5 per cent a year […] Read More