First Senior Bankers on the Planet Responsible for 2008 Collapse Jailed

In April, Wells Fargo & Co admitted to defrauding the United States government for nearly an entire decade, which subsequently led to the housing market collapse — and the United States punished no one. Bank of America Corp (BAC.N), Citigroup Inc (C.N), Deutsche Bank AG (DBKGn.DE) and JPMorgan Chase & Co (JPM.N), have all previously made the same admission and settled similar federal lawsuits — again, with no one being held criminally responsible. While low-level bankers have been thrown in jail as apparent scapegoats in places like Iceland, not a single high-level CEO or officer has faced punitive criminal action — until now. On Friday, three senior Irish bankers were jailed for up to three-and-a-half years for their conspiracy to defraud investors, subsequently causing the economic collapse of 2008. According to a report in Reuters, the trio will be among the first senior bankers globally to be jailed for […] Read More

The Fed to Americans: Buy US Debt or Lose Your Savings to the Banks

BY DAMON GELLER The war on your savings & retirement continues. In a stunning move, Charles Schwab has started informing its clients that “at least 80% of the fund’s net assets will be invested solely in U.S. government securities…” and removed from money market funds. In other words, Schwab is the first of many brokerages to cave to alarming government pressure and begin permanently unwinding trillions in money market-funds, rotating them into government debt. Why? Because our insolvent government needs YOU to finance its unsustainable $19 trillion debt. Luckily, there’s still one way to protect your savings & retirement before the entire house of cards crashes down. Negative Interest Rates Force You to Buy US Treasuries damon_geller_authorAs widely reported, the Federal Reserve is moving steadily toward negative interest rates, or NIRP. In other words, you pay the banks to hold your hard-earned savings. Negative rates are the Fed’s desperate, […] Read More

When They Killed JFK They Killed America

In the JFK administration I was a White House Fellow. In those days it was a much larger program than the small insider program it later became.  by Paul Craig Roberts President Kennedy’s intention was to involve many young Americans in government in order to keep idealism alive as a counter to the material interests of lobby groups. I don’t know if the program still exists. If it does, the idealism that was its purpose is long gone. President John F. Kennedy was a classy president. In my lifetime there has not been another like him. Indeed, today he would be impossible. Conservatives and Republicans did not like him, because he was thoughtful. Their favorite weapon against him was their account of his love life, which according to them involved Mafia molls and Marilyn Monroe. They must have worked themselves into fits of envy over Marilyn Monroe, the hottest […] Read More

Keeping the Slaves on the Plantation — The Census and the National Debt

“I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is now controlled by its system of credit. We are no longer a government by free opinion, no longer a government by conviction and the vote of the majority, but a government by the opinion and duress of a small group of dominant men.” ~ Woodrow Wilson, 1919 by Christina Sarich, Waking Times One of the most important freedoms won in the Revolutionary War was the ability to decide whether or not to use a bank’s services. In 1913 a corrupt Congress infiltrated what would become today’s Big Bank special interests, who then turned the banking system on its head. The power to issue money was taken away from the government and given to an elite few banking families and from that day onward, ALL money in circulation was created as the result […] Read More

How Government Takes Away Your Right To Do Something And Sells It Back To You As A “License”

Government licensing as an extortion racket and depressor of prosperity Government has, for thousands of years, refined its methods of extracting wealth from people, perhaps with no greater efficiency than in 20th century America. The Federal Reserve, corporatism, and consumerism proved a winning combination for achieving what is known as The Great Fleecing. While this brought about the largest transfer of wealth in history from the middle class to the 1 percent, through taxes it has also fueled the growth of an incomprehensible leviathan. The Pentagon alone “spends” (actually borrows from the Fed) $600 billion a year using our tax dollars to perpetuate endless war, and it’s never been audited. The federal tax code is a nightmare for most ordinary people, but this complexity is for the benefit of government’s corporate partners in extortion. The feds are always fiddling with taxes for the supposed benefit of American citizens—such as […] Read More

Exposed: The US is an Oligarchy Ruled by Billionaires and Dictators

Eric Zuesse Off Guardian Even for the post of U.S. President, the preferences of the American people have only a marginal, if any, impact upon the selection of the person to occupy that post. In Colorado’s Republican race to win delegates to the Republican National Convention for selecting the Republican Presidential nominee, there was no primary, and there was no caucus. As the Republican magazine National Review headlined on April 11th, attempting to justify what a Republican wag had just headlined as “Cruz Celebrates Voterless Win”: “Donald Trump Laid a Colorado Goose Egg because He Was Disorganized and Amateurish.” Their argument (since they campaign for any Republican but Trump) was: he lost “because he was disorganized and amateurish”  not because he had been cheated by the Party-hierarchy. National Review explained that in the process which had been set up by the Colorado Republican Party (it’s set up by each individual state’s Republican Party, […] Read More

Why “The Fed Can’t Save Us”: The Simple Explanation From Austrian Business Cycle Theory

By Robert P. Murphy of Mises Institute The Fed Can’t Save Us In December, the Fed hiked its target for the federal funds rate, which is the interest rate banks charge each other for overnight loans of reserves. Since 2008 the Fed’s target for the Fed Funds Rate had been a range of 0 percent – 0.25 percent (or what is referred to as zero to 25 “basis points”). But last month they moved that target range up to 0.25 – 0.50 percent. Ending a seven-year period of effectively zero percent interest rates. From our vantage point, we already see carnage in the financial markets, with the worst opening week in US history. This of course lines up neatly with standard Austrian business cycle theory, which says that the central bank can give an appearance of prosperity for a while with cheap credit, but that this only sets the […] Read More

Robert Kiyosaki And Harry Dent Warn That Financial Armageddon Is Imminent

The following report was originally published by Michael Snyder at The Economic Collapse Blog Financial experts Robert Kiyosaki and Harry Dent are both warning that the next major economic crash is in our very near future.  Dent is projecting that the Dow will fall to “5,500 to 6,000 by late 2017″, and Kiyosaki actually originally projected that a great crash was coming in 2016 all the way back in 2002.  Of course we don’t exactly have to wait for things to get bad.  The truth is that things are not really very good at the moment by any stretch of the imagination.  Approximately one-third of all Americans don’t make enough money to even cover the basic necessities, 23 percent of adults in their prime working years are not employed, and corporate debt defaults have exploded to the highest level that we have seen since the last financial crisis.  But […] Read More

We’ve been measuring inequality wrong – here’s the real story

(The Conversation) Despite appearances to the contrary, this year’s presidential follies have managed to feature at least a few policy discussions amid all the name-calling. Income inequality in particular has animated voters on both sides of the partisan divide, but the solutions advocated by candidates from each party are markedly different. Democrats claim higher taxes on the rich and more benefits for the poor are the best ways to reduce inequality. Republicans argue what we really need is more growth, accomplished by lowering taxes to spur work and investment with, it seems, benefit cuts to make up lost revenue. Remarkably, this debate has taken place based on partial and inappropriate indicators of U.S. inequality. Each party is dead certain about how to address inequality, yet neither knows what it is. Neither has a comprehensive and conceptually correct measure of inequality. The right measure is not how much wealth or […] Read More

Hillary’s Scary New Cash Tax

Submitted by Brian Hunt via InternationalMan.com, Have you heard of “negative interest rates”? It’s become a phenomenon with economists and the media. There’s a good chance you’ve read an article about it. We’ve covered it many times in the Dispatch. I’m writing to tell you something about negative interest rates you haven’t heard. You certainly won’t hear about it in the mainstream press. What’s coming at you is a historic event. It’s something our grandchildren will hear stories about…much like the Great Depression or the Cold War. What’s coming could send the price of gold much higher in the coming years…and hand gold stock owners 500%+ gains. If you know what’s coming, it could mean the difference between having lots of free cash in retirement or barely getting by. To understand the gravity of this moment, let’s cover one of the most bizarre ideas in the world… negative interest […] Read More

The Economic Crash of 2016 Has Begun

Shoppers in Tokyo The financial crash is already happening and the central banks are visibly panicking, they are now resorting to negative interest rates for the first time! They strongly believe that with this scheme, the middlemen lenders would be forced to lend more to their clients to spur economic growth. Otherwise, they will be charged for parking their money with the central bank. Bank of Japan, in a Surprise, Adopts Negative Interest Rate for the First Time The Japanese government has tried numerous stimulus measures, hoping to increase spending and spur inflation. Yuya Shino/ReutersAs Japan’s economic doldrums have lingered, its leaders have tried a number of tricks over the years, from increasing government spending to flooding the financial system with cash. With the global economy looking increasingly fragile, Japan is now taking a more aggressive step by cutting interest rates below zero on Friday. The policy — which […] Read More

Video with Ron Paul: Who Owns the Federal Reserve?

Ron Paul: Who Owns the Federal Reserve? Related articles Stone Cold Proof That Government Economic Numbers Are Being Highly Manipulated America’s Poor Have Never Been Deeper In Debt One American’s Rage Spills Over: Shut Your Mouth & Start Fighting These Political Parasites Will the Fed Hesitate? “Everything is Too Vulnerable” for Rate Change, Says Ron Paul Why The Federal Reserve Should Be Audited The Rockefellers and Rothschilds “fused” while no one was looking These five global banks are paying $5.7 billion in fines over rate rigging

The Facts: Why This Feels Like A Depression For Most People

This analysis was originally published by James Quinn at The Burning Platform. “And the little screaming fact that sounds through all history: repression works only to strengthen and knit the repressed.” – John Steinbeck, The Grapes of Wrath Everyone has seen the pictures of the unemployed waiting in soup lines during the Great Depression. When you try to tell a propaganda believing, willfully ignorant, mainstream media watching, math challenged consumer we are in the midst of a Greater Depression, they act as if you’ve lost your mind. They will immediately bluster about the 5.1% unemployment rate, record corporate profits, and stock market near all-time highs. The cognitive dissonance of these people is only exceeded by their inability to understand basic mathematical concepts. The reason you don’t see huge lines of people waiting in soup lines during this Greater Depression is because the government has figured out how to disguise […] Read More