“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

WikiLeaks publishes the Healthcare Annex to the secret draft “Transparency” Chapter of the Trans-Pacific Partnership Agreement (TPP)

WikiLeaks publishes the Healthcare Annex to the secret draft “Transparency” Chapter of the Trans-Pacific Partnership Agreement (TPP) Today, Wednesday 10 June 2015, WikiLeaks publishes the Healthcare Annex to the secret draft “Transparency” Chapter of the Trans-Pacific Partnership Agreement (TPP), along with each country’s negotiating position. The Healthcare Annex seeks to regulate state schemes for medicines and medical devices. It forces healthcare authorities to give big pharmaceutical companies more information about national decisions on public access to medicine, and grants corporations greater powers to challenge decisions they perceive as harmful to their interests. Expert policy analysis, published by WikiLeaks today, shows that the Annex appears to be designed to cripple New Zealand’s strong public healthcare programme and to inhibit the adoption of similar programmes in developing countries. The Annex will also tie the hands of the US Congress in its ability to pursue reforms of the Medicare programme. https://wikileaks.org/tpp/healthcare/ WikiLeaks […] Read More

How Banks Create and Destroy Money

The Money Lenders by  Quentin Metsys – 1466 “I’m just a banker do doing God’s work.”  Lloyd Blankfein Much has been said about both the moral hazard of banks being bailed out and people bailing out of mortgages. The major question raised was, would this ‘bailout’ contagion infect the integrity of our economic and political system?  But far more interesting and much less discussed are the mechanics of modern banking and their moral implications. During the housing boom trillions were loaned out in mortgages creating a housing bubble and the eventual collapse of the financial markets. But where did all that money come from? The vast majority of people think that banks borrow money from the Fed or depositors at one rate, lend it at another and make a spread. This concept is completely false. Banks create money, loan it out, make their margin through compound interest, and destroy […] Read More

REPORT: IRS Continues SWAT Raids for Evasion While Hundreds of Agents Avoid Paying Any Taxes at All

Washington, D.C. – The Associated Press has reported that over 1,600 IRS employees have willfully committed tax evasion in a 10-year span; most still employed in spite of a 1998 law calling for termination in such cases. Even worse, it has been reported that many of the tax-evading agents were active in enforcing the federal tax laws they have broken. The agents found many ways to evade taxes, including “improperly claiming dependents, repeated failure to file timely tax returns, and claiming a tax credit for first-time homebuyers when the worker didn’t buy a house.” While only 25% of the willful violators were fired, the report revealed that some of these agents received “promotions, raises and bonuses” after being caught breaking the laws they enforce. In response to the revelations, Sen. Orrin Hatch, R-Utah, chairman of the Senate Finance Committee stated, “It is crucial that IRS employees are held to […] Read More

The Banksters War On Cash

Once upon a time, the famous criminal Willie Sutton was asked why he robbed banks, and his response was simple, eloquent, and humorous: “Because that’s where the money is.” Well, soon that adage may be proven untrue. What exactly is the meaning of legal tender?  In order to place money in its proper perspective, examine what the U.S. Treasury says. “The pertinent portion of law that applies to your question is the Coinage Act of 1965, specifically Section 31 U.S.C. 5103, entitled “Legal tender,” which states: “United States coins and currency (including Federal reserve notes and circulating notes of Federal reserve banks and national banks) are legal tender for all debts, public charges, taxes, and dues.” Now one might reasonably expect that conducting cash transactions would be guaranteed by the full weight and protection of the Federal Government. Such an assumption would be false, since the Banksters operate as a power beyond the law. The […] Read More

The Top Moves That the 1% Uses to Maintain Dominance

George Lakey, Waging Nonviolence Guest Gandhi confronted a number of adversaries in his day, including a world empire. He sometimes called them “a worthy opponent” — one that used shrewd strategy to try to defeat his movement. Even though Gandhi was deeply concerned with ethical issues, he didn’t think that taking a moral stand excused him from the need to strategize. That meant paying attention to the moves coming at him. In keeping with my last two columns on this subject (see part one and part two), here are five more of the economic elite’s favorite moves, as it seeks to maintain dominance in the United States and elsewhere. Create a lesser-of-two-evils choice When the nonviolent campaign against the Keystone XL pipeline upset the “done deal” between Canada and the United States, a flurry of discussion took place among environmentalists. A prominent expert took to the airwaves to argue […] Read More

$75k Income Not Enough to Keep a Third of US Households From Living Paycheck-To-Paycheck

A third of higher income Americans are living paycheck-to-paycheck, even when they earn $75,000 a year because they would rather spend money on eating out and experiences than save money for retirement, according to a new survey. In a poll of 519 households earning $75,000 or more, nearly a third of them live paycheck-to-paycheck, at least some of the time, SunTrust Bank found. Almost half (44 percent) of participants said that spending on lifestyle purchases – like dining out and entertainment – causes them to save less than they should each month. Eating out was the biggest reason people said they are not saving enough, with 68 percent of respondents giving it as their main excuse. But one third of participants said a lack of financial discipline at least sometimes holds them back from achieving their goals. Millennials fared even worse when it came to saving: 71 percent blamed […] Read More

The Six Too Big To Fail Banks In The U.S. Have 278 TRILLION Dollars Of Exposure To Derivatives

The very same people that caused the last economic crisis have created a 278 TRILLION dollar derivatives time bomb that could go off at any moment.  When this absolutely colossal bubble does implode, we are going to be faced with the worst economic crash in the history of the United States.  During the last financial crisis, our politicians promised us that they would make sure that “too big to fail” would never be a problem again.  Instead, as you will see below, those banks have actually gotten far larger since then.  So now we really can’t afford for them to fail.  The six banks that I am talking about are JPMorgan Chase, Citibank, Goldman Sachs, Bank of America, Morgan Stanley and Wells Fargo.  When you add up all of their exposure to derivatives, it comes to a grand total of more than 278 trillion dollars.  But when you add […] Read More