Matt Taibbi: World’s Largest Banks Admit to Massive Global Financial Crimes, But Escape Jail (Again)

This is about as serious a financial crime as you can possibly get, says the Rolling Stone journalist. In an interview with Democracy Now!, Rolling Stone journalist Matt Taibbi spoke about the recent news surrounding the five major banks – Citigroup, JPMorgan Chase, Barclays, Royal Bank of Scotland and UBS – who pled guilty to rigging the price of foreign currencies and interest rates. Their fines amount up to more than $5 billion. “They were monkeying around with the prices of every currency on Earth,” Taibbi told Amy Goodman. “So, if you can imagine that anybody who has money, which basically includes anybody who’s breathing on the planet, all of those people were affected by this activity. So if you have dollars in your pocket, they were monkeying around with the prices of dollars versus euros, so you might have had more or less money fractionally, depending on all […] Read More

These five global banks are paying $5.7 billion in fines over rate rigging

Source: Forbes Five of the world’s largest banks, including JPMorgan Chase & Co and Citigroup Inc, were fined roughly $5.7 billion, and four of them pleaded guilty to U.S. criminal charges over manipulation of foreign exchange rates, authorities said on Wednesday. A fifth bank, UBS AG, will plead guilty to rigging benchmark interest rates, the U.S. Justice Department said. U.S. banks JPMorgan Chase and Citigroup will pay $550 million and $925 million in criminal fines, respectively, as part of their guilty pleas. British banks Barclays Plc will pay $650 million in criminal penalties and Royal Bank of Scotland Plc $395 million. Each will plead guilty to one felony count of conspiring to fix prices and rig bids for U.S. dollars and euros in the foreign exchange spot market. Euro dollar traders at four of the banks described themselves as members of “The Cartel” and used an electronic chat room […] Read More

Obama Caught Lying Again: “We Don’t Have The Technological Breakthroughs To Replace Fossil Fuels”

Not long ago, Barack Obama said: “We’re all about increasing energy efficiency and finding new, renewable, clean sources of energy. We don’t yet have the technological breakthroughs that could completely replace fossil fuels. We will be using our current methods of energy generation for the next 20 to 30 years. ” (see video below) This is another example of the president of the United States blatantly lying. It’s extremely clear that we do have solutions to the current energy challenges we have. This became even more evident in the mainstream world when (recently) the Rockefeller family dropped their investments in fossil fuels and switched over to clean energy. (source) The world’s largest private bank, UBS, is urging investors to join the clean, renewable energy movement. Analysts at the bank say that power plants in Europe might be extinct within the next 10 to 20 years. “Most of the plants retiring in […] Read More

2014: 20 Early Warning Signs That We Are Approaching A Global Economic Meltdown

By Michael Snyder The Economic Collapse Blog Have you been paying attention to what has been happening in Argentina, Venezuela, Brazil, Ukraine, Turkey and China?  If you are like most Americans, you have not been.  Most Americans don’t seem to really care too much about what is happening in the rest of the world, but they should.  In major cities all over the globe right now, there is looting, violence, shortages of basic supplies, and runs on the banks.  We are not at a “global crisis” stage yet, but things are getting worse with each passing day.  For a while, I have felt that 2014 would turn out to be a major “turning point” for the global economy, and so far that is exactly what it is turning out to be.  The following are 20 early warning signs that we are rapidly approaching a global economic meltdown… #1 The looting, […] Read More