Archive for the ‘Global Financial Crisis’ Category

It’s All Coming to an End

aa-debt bubble “Can a debt crisis be cured with more debt?” it is difficult to envision a return to normalcy within my lifetime (shorter than it is for most of you). I suspect future generations will be asking current policymakers the same thing that many of us now ask about public smoking, or discrimination against gays, or any other wrong turn in the process of being righted. How could they? How could policymakers have allowed so much debt to be created in the first place, and then failed to regulate their own system accordingly? How could they have thought that money printing and debt creation could create wealth instead of just more and more debt? How could fiscal authorities have stood by and attempted to balance budgets as opposed to borrowing cheaply and investing the proceeds in infrastructure and innovation? It has been a nursery rhyme experience for sure, but more than likely without a fairytale ending. http://www.zerohedge.com/news/2014-12-04/its-all-coming-end-bill-gross-warns

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Japan’s the Tinder That Set the World’s Bad News on Fire

aa-global financial collapse We’ve been keeping the long lost idea of our long lost society alive by squeezing our own children wherever we can, and telling them that if they only work hard enough, they can be whoever they want to be. But they can’t, that notion is also long lost. When you keep home prices artificially high, homeowners don’t suffer as much, even if they bought at insanely high prices, but the suffering is switched to potential buyers, who remain just that, potential, while they live in their mom’s basements for years. A surefire way to kill a society while everyone’s eagerly awaiting the growth that is just around the corner and will forever remain there. Take it from your kids. Take it from somewhere else in the world. And that’s where we’re now passing a barrier: there’s no-one to take it from anymore. http://www.zerohedge.com/news/2014-11-04/japans-tinder-set-worlds-bad-news-fire


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A Cataclysmic Great Unwind and Global Meltdown is Coming

aa-global financial collapse But what’s going on today, this managing of the economy and managing of the interest rates, is really just another modern-day version of wage and price controls. In fact, it’s much more severe and it’s really interfering with the business cycle. Companies and banks that should have failed are not being allowed to fail. So there are all these zombie banks out there and the situation just continues to get more dire, even though the central planners have fabricated this illusion, this great lie, that the world is on its way to prosperity. It’s all a smokescreen of lies that is aggressively pushed by Joseph Goebbels-style propaganda through the mainstream media. There is a denial that there is ever going to be a cleansing of the financial system, but it will happen. After the cleansing it will be much better for the economies of the world. There will be great pain from the cleansing, but the world will not end and the economies of the world will rise from the ashes and rebuild. People just need to be aware that trouble is coming. This means they have to ignore the constant stream of propaganda coming from the mainstream media. Again, I cannot stress enough how important it will be for people to protect themselves from the coming financial destruction by owning hard assets such as physical gold. http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2014/9/7_A_Cataclysmic_Great_Unwind_%26_Global_Meltdown_Is_Coming.html


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When You See This Happen, You’ll Know It’s Game Over for the Dollar

aa-dollar - falling like dominos Today, 70 years after Bretton Woods, leaders from China, Russia, India, Brazil, South Africa, and several other nations are hard at work in Fortaleza, Brazil creating a new development bank that will compete against the U.S.-controlled World Bank. This is a major step in an obvious trend towards a new financial system. Every shred of objective data is screaming for this to happen. Within the next 2-3 years we’ll start seeing trade settlement in renminbi, even when none of the parties are in China. http://www.silverdoctors.com/when-you-see-this-happen-youll-know-its-game-over-for-the-dollar-i-give-it-2-3-years/


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CEO Of Europe’s Largest Insurer Pops the Utopia Bubble: ‘Nothing is Solved and Everybody Knows It’

aa-global financial collapse Here’s the punchline: everyone knows that Draghi, the unelected dictators of Europe, and all of its bankers are lying when the say day after day that things are better. However, at least there was unanimity in the “head-in-the-sand” exercise, which recall from game theory works only if all participants in the charade agree to the ignore reality. Today for the first time, a “member of the club” finally called out Europe on its bullshit: something that is not allowed under game theory. What’s worse, he made it quite clear that everyone else knows they are not only lying to others, but lying to themselves. What happens next may be very unpleasant, because as always happens, following protracted periods of denial, and Europe has been living in a vacuum completely dislocated from reality for exactly two years since Draghi’s “Whatever it takes” speech, there is very violent convergence between reality and idiocy. And Europe is just about due for precisely that kind of denial-shattering convergence. http://www.zerohedge.com/news/2014-07-11/ceo-europes-largest-insurer-pops-utopia-bubble-nothing-solved-and-everybody-knows-it


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The Inevitability of Financial Bubbles

aa-bubble - being pricked Financial instruments are inventions of gnomes from investment houses and exchanges. There is nothing intrinsic about profitability or guarantee that over time such transactions will be rewarding. Much like the games played at a casino, the baccarat banks that run the betting sport and wheel of fortune, are running the odds in their favor. If only the payoff was similar to the gambling den probability, the consistency of indulgence might be worth the risk. However, the systemic incentivisations within the markets themselves are designed to reflect little of economic proportion to actual trading results. Just look how the financial firms compensate their traders to substantiate that the underlying security of the “so called” investment, which bears little resemblance to quoted pricing. http://batr.org/negotium/070214.html


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Everywhere You Look There Are Signs That the Next Financial Crisis is Coming

aa-global financial collapse
Fundamentals no longer matter. Common sense is now a totally foreign entity. High frequency traders and algorithms dominate the marketplace, brokers steal customer funds to cover their own losses, banks sell their customers ‘shitty deals’ and take the other side of the trades. And everyone is drinking from the same spiked punch bowl where bad news is good news, good news is good news, and a single clueless committee has all the power. http://investmentwatchblog.com/everywhere-you-look-there-are-signs-that-the-next-financial-crisis-is-coming/

 


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Interest Rate Puzzle

aa-global financial collapse With the first revised estimate of the first quarter U.S. GDP now lowered from an initial 0.1% rise to a 1.0% decline, it is now apparent that the Fed’s stated goal of QE to stimulate the economy has failed. Wall Street and the presstitute financial media insist on blaming the relentless rise in Treasury bond prices — and the concomitant decline in interest rates — on a “short squeeze” in the Treasury market. This is the cover story in order to deflect scrutiny from the real reason for the decline in interest rates despite the Fed’s reduction in bond purchases. The real reason for the large, unexpected decline in interest rates since tapering began in January is that the economy never recovered from the recession that started in 2006. Consequently, current stock prices reflect a recovery that doesn’t exist. http://www.paulcraigroberts.org/2014/06/04/interest-rate-puzzle-paul-craig-roberts-dave-kranzler/


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Russia Dumping U.S. Treasuries — in Belgium

aa-global financial crisis Belgium is known for its surprises. For example, it got by amazingly well for a couple of years without a national government, and without breaking apart, to the endless chagrin of a lot of people. And it has a great variety of delicious beers, which I amply tested during the three years I was there. But now, that tiny country with a tiny economy is suddenly piling up a mountain of U.S. Treasuries. http://www.testosteronepit.com/home/2014/5/15/russia-dumping-us-treasuries-but-why-the-heck-in-belgium.html


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BRICS 80 Preparing to Take Down the Dollar

aa-dollar - collapsing like titanic Dr Jim Willie has been talking about the BRICS nations (Brazil, Russia, China, India and South Africa) being joined by other nations to take down the dollar. He says there are now 80 nations in the BRICS alliance who have joined together to end the dollar’s reign as the international reserve currency. China could have taken down the US economy any time it wanted to after it had accumulated more than a trillion dollars in US Treasury bonds. All it had to do was to sell them and buy real assets until the US government collapsed and surrendered. The Chinese are playing a much more sophisticated game. Their goal is to take down the dollar and the British pound but not to hurt their customers in Africa, Latin America, Australia and elsewhere. http://vidrebel.wordpress.com/2014/05/08/jim-willie-brics-80-preparing-to-take-down-the-dollar/


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Fed Has Lost Control, Systemic Failure Flashing Warning Signals Now

aa-Dees - federal reserve as spider enveloping world The U..S Federal Reserve has been printing money since 2011 to cover government debt securities in a frenetic manner. They have lost control. They call it stimulus, when it is actually the opposite. It does assist the speculators with nearly zero cost money to borrow, but one must be a club member to win loan grants. The Quantitative Easing programs are deceptive. When the program was initially announced, the Jackass claimed it would be part of an endless sequence. With QE1 and QE2 and Operation Twist and QE3, following the failed trial balloon called Taper Talk, it is quite clear to anyone with an active brain stem and absent rose colored glasses that the Fed is caught in a trap called QE to Infinity. It is not stimulative. Instead, the uncontrollable bond monetization causes capital destruction. It causes economic degradation. It causes lost jobs and vanished income. It is a gigantic wet blanket to smother and destroy the U.S. economy slowly, amidst unending propaganda. QE is the device that will result in Systemic Failure, which is already flashing signals of its arrival. http://www.silverdoctors.com/jim-willie-fed-has-lost-control-systemic-failure-flashing-warning-signals-now/


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Seismic Waves of Destruction Coming for the U.S. Dollar

aa-dollar - Washington w hands on his head On the financial front, the seismic waves of destruction for the US Dollar are coming more fast and furiously. From Cyprus, to German repatriation, to LIBORgate, etc. How much longer can’t be accurately forecast, but things are certainly heating up. China’s financial system is on edge, but their gold reserves (15,000 tons) will enable them to crater their paper system, along with the dollar, thereby putting them in charge of the resulting gold-based economic system. If it sounds scary, that’s because it is. http://www.silverdoctors.com/jim-willie-seismic-waves-of-destruction-coming-for-the-us-dollar/


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The Global Currency Reset Looms

aa-dollar - funny satirical one Many are key events that indicated with growing clarity a pathway toward destruction. With great regret, the conclusion has been inescapable that it has been far more intentional than the great majority of American citizens realize. No firm documents, or project details, or focused agendas, or formal lists, or anything of substance is in Jackass possession. Just a brain, eyes, ears, experience, and the ability to process information with a unique perspective not easily deceived or distracted. Follow the sequence for an interesting if not intrigue-filled brief ride. http://www.silverdoctors.com/jim-willie-we-are-well-past-the-11th-hour-the-global-currency-reset-looms/


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20 Signs That the Global Economic Crisis is Starting to Catch Fire

aa-global financial collapse If you have been waiting for the “global economic crisis” to begin, just open up your eyes and look around. I know that most Americans tend to ignore what happens in the rest of the world because they consider it to be “irrelevant” to their daily lives, but the truth is that the massive economic problems that are currently sweeping across Europe, Asia and South America are going to be affecting all of us here in the U.S. very soon. Sadly, most of the big news organizations in this country seem to be more concerned about the fate of Justin Bieber’s wax statue in Times Square than about the horrible financial nightmare that is gripping emerging markets all over the planet. After a brief period of relative calm, we are beginning to see signs of global financial instability that are unlike anything that we have witnessed since the financial crisis of 2008. As you will see below, the problems are not just isolated to a few countries. This is truly a global phenomenon. http://www.zerohedge.com/news/2014-02-14/20-signs-global-economic-crisis-starting-catch-fire


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Europe Considers Wholesale Savings Confiscation, Enforced Redistribution

aa-European Union - fractured euro At first we thought Reuters had been punk’d in its article titled “EU executive sees personal savings used to plug long-term financing gap” which disclosed the latest leaked proposal by the European Commission, but after several hours without a retraction, we realized that the story is sadly true. Sadly, because everything that we warned about in “There May Be Only Painful Ways Out Of The Crisis” back in September of 2011, and everything that the depositors and citizens of Cyprus had to live through, seems on the verge of going continental. In a nutshell, and in Reuters’ own words, “the savings of the European Union’s 500 million citizens could be used to fund long-term investments to boost the economy and help plug the gap left by banks since the financial crisis, an EU document says.” What is left unsaid is that the “usage” will be on a purely involuntary basis, at the discretion of the “union”, and can thus best be described as confiscation. http://www.infowars.com/europe-considers-wholesale-savings-confiscation-enforced-redistribution/


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Coming Global Collapse Will Eclipse the Terror of 2008

aa-grim reaper - 4-18-13 I believe that ultimately the decisions that policymakers are going to be facing either this year or next year, are going to be one of default or debase. Neither of these sets of outcomes are going to be greeted well by financial markets. This will mean much lower equity markets, higher interest rates, and a global reset with respect to the existing global financial architecture. But what you are going to see in the future is going to be unprecedented. I don’t even think the experience of the Great Depression of the 1930s will properly describe what is in store for people. My fear is that as social unrest breaks out pretty much everywhere, the governments of the world will use this as an opportunity to increase the ‘Orwellian’ police state. We have already seen signs of this in many countries, including the United States. But governments will crack down even further. So that will mean a further loss of freedoms for ordinary citizens, under the premise of restoring social order. http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2014/2/7_Coming_Global_Collapse_Will_Eclipse_The_Terror_Of_2008.html


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The New Wave of Financial Instability

aa-Republicrats - two parties one ideology So, is this the Big One, the beginning of the next financial crisis? It’s too early to say, but investors and analysts are worried. Fed tightening (via “taper”) will be felt in markets around the world. The trouble in emerging markets will intensify deflationary pressures in the Eurozone and put a damper on China’s growth. Slower global growth, in turn, will create balance sheets problems for undercapitalized and over-leveraged banks and other financial institutions which will increase the probability of another Lehman Brothers-type default. http://www.unz.com/mwhitney/the-new-wave-of-financial-instability/


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Greece is Back: Germany, France, Creditors Hold Secret Meeting Due to Greek Bailout ‘Mounting Concerns’

aa-Greece - turmoil There was a time – roughly between May 2010 and the spring fall of 2011 – when all the world had to worry about was Greece. Then the realization finally dawned that since a Grexit from the Eurozone would kill the EUR and the European integration dream with so much “political capital” invested, crush Deutsche Bank, and bring back the much dreaded (by German exporters) Deutsche Mark, it became clear that there is no fear that Greece, which is now a decrepit shell of a country with a collapsed economy and society in shambles, has now become a slave state to European bureaucrats, business and banks (in Nigel Farage’s words), will never be formally kicked out of Europe and only an internal coup would allow it to finally break free from the clutches of unelected European tyrants. And then the world moved on to more important things: like Japan, China Emerging Markets and how they are all enjoying the Fed’s taper. Sadly, we have to report, that Greece is once again baaaaack. http://www.zerohedge.com/news/2014-01-31/greece-back-germany-france-creditors-hold-secret-meeting-due-greek-bailout-mounting-


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The Entire World is Now Unraveling Before Our Eyes

aa-financial disaster - tornado of currency They have to do something. This is the greatest Ponzi scheme in modern history that the Fed has pulled off by dumping all of this money into the system. And at some point they have to start pulling back. They have no plan. They are running blind. But they have to do something because it’s the only thing that’s fueling world growth. After the January Fed meeting, we believe that absent a real market shock between now and then, they are going to go in for another round of tapering. They have to. But what it’s doing, it’s unraveling all the emerging markets. http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2014/1/24_Celente_-_The_Entire_World_Is_Now_Unraveling_Before_Our_Eyes.html


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Gold and the New Monetary Order

aa-gold - good one Publicly the so called authorities remain in a state of denial about the systemic debt crisis. The idea for the need of a new monetary order already lives very silently in the big shadow of the false perception buildings for the past 20 years. Today’s conflicting gold price management is recognized and understood as such by those with deep system insights. That’s what the ongoing private gold metal accumulation is all about. It will continue and eventually go parabolic up until the circumstances for a new monetary order are in place. The chances that further economic deterioration can be avoided are now extremely thin. http://www.silverdoctors.com/gold-the-new-monetary-order/


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If You Are Waiting For an ‘Economic Collapse,’ Just Look at What is Happening to Europe

aa-European Union - falling like dominos If you are anxiously awaiting the arrival of the “economic collapse,” just open up your eyes and look at what is happening in Europe. The entire continent is a giant economic mess right now. Unemployment and poverty levels are setting record highs, car sales are setting record lows, and there is an ocean of bad loans and red ink everywhere you look. Over the past several years, most of the attention has been on the economic struggles of Greece, Spain and Portugal and without a doubt things continue to get even worse in those nations. But in 2014 and 2015, Italy and France will start to take center stage. http://theeconomiccollapseblog.com/archives/if-you-are-waiting-for-an-economic-collapse-just-look-at-what-is-happening-to-europe


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The Dying Dollar

As the dollar enters its death throes, the lawless Federal Reserve and the Wall Street criminals will increase their shorting of gold in the paper futures market, thereby driving the remnants of the West’s gold into Asian hands. http://www.paulcraigroberts.org/2013/11/22/dying-dollar-paul-craig-roberts/


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The Coming Global Currency Reset Will Double Gold Overnight

The deviant behavior is with the Anglo enforcers though. They cannot dictate geopolitical criminality on a unilateral basis. They cannot oppose other methods between two independent nation parties for conducting trade. They cannot obstruct commerce like with natural gas pipelines and expect to remain unopposed, to escape without oil on their hands. The United States and Great Britain have become rogue leaders in defense of increasingly fascist regimes and financial systems. As a result of the hostile monetary war, the U.S. Dollar and its U.S. T-Bond vehicle are facing not simply opposition, but broad-based earnest organized initiatives to avoid them. Not to wreck them, but rather the goal is to replace them in workarounds. http://www.silverdoctors.com/jim-willie-gold-fever-coming-global-currency-reset-will-feature-an-overnight-double-in-the-gold-price/


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Central Bankers Prepare to Flood the World With More Funny Money

Recent comments by the head of the Bank of England, the U.K.’s powerful central bank, offered further evidence that Western central bankers are preparing to shower even greater quantities of fiat currency on private banks and financial institutions — all at public expense. Already, tens of trillions of dollars’ worth of debt-based currency has been created out of thin air by the Federal Reserve, the BoE, the European Central Bank, and other central banks to prop up private mega-banks and wild spending sprees by government amid the economic crisis. With help and guidance from the BoE’s new governor, Mark Carney, analysts say all of that appears set to accelerate. http://thenewamerican.com/economy/economics/item/16843-central-bankers-prepare-to-flood-the-world-with-more-funny-money


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‘A Collapse to End All Collapses’

There is also this constant drivel in the mainstream media about things getting better everywhere, and yet if you really get inside the numbers that isn’t true. The fact is the world economy is struggling, and there is infinitely too much debt. Because of this reality, you don’t get much bang for new debt, and the West is just building up an ever-greater bubble that is more and more vulnerable with each passing day. http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/10/28_Historic_End_Game_-_A_Collapse_To_End_All_Collapses.html


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Asians Staggered at What’s Happening in the West

If you take everything out of the equation — take manipulation out of the equation, whether it be in bond or currency markets, or the gold market, and you just look at the numbers and the facts, it’s very, very clear that a lot of what’s going on is unsustainable. The debt and unfunded liabilities are unsustainable. A lot of the banks are insolvent. Anyone who can actually step back and take a level-headed, cold, hard look at the numbers can see all of these things. But at the moment it doesn’t matter. People are OK saying, ‘Let’s keep this charade going because the reality of it is too painful.’ But at some point you can’t pull the levers anymore, and you can’t move things around, and you can’t cover things up. Ultimately, the numbers are going to matter, and when it comes down to pure, cold, simple mathematics, this is unsustainable. And when it all goes, I’m afraid it’s all going to go at once because the math is just going to fall like dominos. http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/10/19_People_In_Asia_Are_Staggered_At_Whats_Happening_In_The_West.html


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Not only Asians,but the whole world!

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The IMF Proposal to Tax Bank Deposits

Economic subsistence, with no cash reserves or negligible nest eggs, for the majority of the masses is routine. Draining the coffers or annuities of retired public employees, really is an acceptable alternative, since the less privileged perceive their status would get a jump-start when the affluence differential narrows. Only those who have something to lose will see the IMF trial balloon as a danger to their monetary well-being. The class warfare card works every time. As long as the underlying reasons why the unsustainable debt obligations, mathematical inability of being serviced, without direct appropriation of massive assets from the ordinary public, is ignored. http://www.batr.org/negotium/101613.html


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Gold’s Resurrection From the Looming Financial Disaster

The central bank concept is the Matrix in embodiment, but the Eastern nations led by BRICS and G-20 have a key to unlock the U.S. dollar prison. http://www.silverdoctors.com/jim-willie-gold-resurrection-from-financial-disaster/


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The Greatest Debt Crisis the World Has Ever Seen is Coming

The largest mountain of debt in the history of the world just continues to grow even larger, and everyone knows that this colossal debt spiral is not going to end well. But we all keep playing along because nobody wants the party to end. Right now, there is an unprecedented ocean of red ink covering the planet. Globally, governments have never been in so much debt, corporations have never been in so much debt and consumers have never been in so much debt. But every time someone suggests that this is a problem and that we should at least try to get debt levels to settle down a bit, people start screaming that “austerity” will hurt the global economy. And of course it will. But we can’t continue to live way, way above our means indefinitely. Well, we can try, but at some point this entire house of cards is going to come crashing down and we are going to be facing the greatest economic crisis the world has ever seen. http://www.silverdoctors.com/the-greatest-debt-crisis-the-world-has-ever-seen-is-coming/


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The Financial Meltdown, Five Years After

Just ask anyone with a positive net worth before 2008 and inquire if they still consider themselves part of the middle class. The overview of the last five-year monetary architectural plan of providing costless money to the banksters, while starving the average worker and depleting individual investment coffers, is frightening. It is a hard sell for the Treasury. Putting a smiley face on a report, when the actual results are killing Main Street, is preposterous. Thanks Larry Summers, for designing the free rein, wheeler-dealer derivative house of cards that only partially broke in phrase one. http://www.batr.org/negotium/091813.html


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Forecasts of a Doomed Economy

Contrary investing used to be a profitable endeavor. Things have changed. The doom business is in full swing as many financial prognosticators seek to hedge their normally ecstatic outlooks in order to sell their advice. When tragedy becomes a consensus sentiment, it used to be the time to buy. Now that formula has to factor in a different set of risks. http://www.batr.org/negotium/091113.html


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Maybe This is Why the U.S. Now Has a Serial-Bubble Economy

Why did the economy become dependent on asset bubbles for “growth”? One way to find an answer is to ask: cui bono, to whose benefit? Correspondent Jeff W. has the answer: the financial sector and the central government. http://www.zerohedge.com/news/2013-09-05/guest-post-maybe-why-we-now-have-serial-bubble-economy


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Financial Calamity — It’s Coming, Be Worried, Be Careful

Famed investor Jim Rogers says, “This is the first time in recorded history all the banks are printing money at the same time. . . . This is the first time we’ve had massive debasement, and it’s going to end very badly no matter what they say.” http://www.lewrockwell.com/2013/08/greg-hunter/be-worried-be-careful%e2%80%a8-be-prepared/


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13 Reasons Why Gold Will Hit $5,000 an Ounce

The financial crisis has been a fixture since 2008 when Lehman failed. The crisis became acute when QE began, and later the hyper monetary inflation was clear as permanent. In the last several months, the perma-crisis elevated in danger level, from a skein of high risk critical extreme events. The Gold price will rise dramatically in the future from numerous powerful forces and factors. http://www.silverdoctors.com/jim-willie-13-reasons-why-gold-will-hit-5000oz/


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18 Signs That Global Financial Markets Are Entering a Horrifying Death Spiral

Of course a lot of people believe that we will never see another major financial crisis like we experienced in 2008 ever again. A lot of people think that this type of “doom and gloom” talk is foolish. It is those kinds of people that did not see the last financial crash coming and that are choosing not to prepare for the next one even though the warning signs are exceedingly clear. Let us hope for the best, but let us also prepare for the worst, and right now things do not look good at all. The following are 18 signs that global financial markets are entering a horrifying death spiral. http://www.silverdoctors.com/18-signs-that-global-financial-markets-are-entering-a-horrifying-death-spiral/


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Currency Wars, Gold, and Total Collapse

Since the creation of the Fed in the U.S. in 1913 (a privately owned central bank set up for the benefit of commercial bankers), all currencies have declined 97-99% in real terms. And real terms, of course, means gold which is the only money that can’t be printed and the only money that has survived for 5,000 years. http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/7/12_Currency_Wars%2C_Gold_Peace_%26_Total_Collapse.html


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U.S. T-Bond: Return to Sender

The Bernanke Fed is realizing they are stuck in the monetary corner with no exit. They began to mention the need for an exit in the spring months of 2009. That is when the 0% official rate should have been abandoned. Here we are four years later, and they are still stuck with no exit, precisely as the Jackass warned, forecasted, and screamed in print. The division within the U.S. Fed is becoming a regular story. Only the half-blind governors on the once august Board refuse to admit that U.S. economic growth is a mirage. The brave governors have been more bold in recent months, taking a stance against the charlatan Bernanke, explaining the intractable position. The chairman has ably proved that liquidity cannot solve the current banking and financial problems mired in insolvency. In doing so, Bernanke has disproved his own Ph.D. in economics dissertation, and has discredited his own lofty credentials with a Princeton seal. He is a sham, a Weimar agent, and a destroyer of capital. The hopelessly devoted paper mache craftsman is stuck in the Matrix. http://silverdoctors.com/jim-willie-ustbond-return-to-sender/


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Switzerland Revises 1934 Banking Act to Allow Bail-In Deposit Confiscations!

The Swiss Financial Market Supervisory Authority (FINMA) has quietly joined the growing parade of Western nations who have quietly re-written banking laws to allow depositor bail-ins upon the next banking crisis. If Switzerland, the once ultimate safe haven for banking deposits across the world is preparing to confiscate depositors funds, there truly is no protection anywhere other than physical gold and silver in your own possession. http://silverdoctors.com/switzerland-revises-1934-banking-act-to-allow-bail-in-deposit-confiscations/


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If This Continues the Currencies Will Literally Collapse

I don’t recall any point in history where debt monetization has ever ended well for the currency of that particular nation. In fact, it has always led to the collapse of currencies. But what we are seeing right now is the price of commodities continues to fall in spite of massive money printing, and it has central planners concerned because their tools are becoming less and less effective. In a debt based economy, if you don’t have a constant increase in borrowing, and if you don’t have a constant increase in the amount of debt that consumers are willing to take on, then the economy contracts. That’s what we are dealing with here. http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/4/17_If_This_Continues_The_Currencies_Will_Literally_Collapse.html


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The World is Now on Fire and There Will Be Hell to Pay

The world is literally ablaze with the creation of money, and there will be hell to pay for what is taking place right now. The monetary policy of Japan has now spread out from Japan to Europe and will eventually infect the entire globe. Markets now give the appearance of having no rules. This is a world that, for the time being, seems to have repealed the normal law of consequences, but I can assure you this will end in tears. http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/4/9_Sinclair_-_The_World_Is_Now_On_Fire_%26_There_Will_Be_Hell_To_Pay.html


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The Global Elite Are Very Clearly Telling Us That They Plan to Raid Our Bank Accounts

Don’t be surprised when the global elite confiscate money from your bank account one day. They are already very clearly telling you that they are going to do it. Dutch Finance Minister Jeroen Dijsselbloem is the president of the Eurogroup – an organization of eurozone finance ministers that was instrumental in putting together the Cyprus “deal” – and he has said publicly that what has just happened in Cyprus will serve as a blueprint for future bank bailouts. What that means is that when the chips are down, they are going to come after YOUR money. http://theeconomiccollapseblog.com/archives/the-global-elite-are-very-clearly-telling-us-that-they-plan-to-raid-our-bank-accounts


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Why Cyprus Matters

Cyprus is a small island in the Mediterranean Sea off the coast of Turkey and Syria. On a map it seems to belong more in the Middle East than Europe, but for a host of historical reasons it is included. The 1.1 million people who live there are citizens of the European Union. I don’t live there, so should that matter to me? It matters because the banking abomination being attempted in Cyprus is the first of its kind in modern times—the literal confiscation of “taxes” from bank accounts. Cyprus should matter to you if you have money in any Western bank, prefer to use credit cards instead of cash, or believe in the rule of law. http://takimag.com/article/why_cyprus_matters_guy_somerset/print#axzz2OrgW6VoY


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The Financial System is Collapsing Before Our Eyes

You cannot prop-up banks just by pumping in new money, and after there is none left, then go to the people and call it austerity measures. Then take all of their money and give it to the banks, and when that fails, there is nothing left. Right now we are almost to the point of nothing left. Cyprus is the one that everyone should look at. We believe it’s a test case. So with Greece already down, Spain out, Italy on the edge, and Portugal gone, Ireland barely floating, to us Cyprus was the test case to see what they can do to steal the money from the people one more time. http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/3/22_Celente_-_The_Financial_System_Is_Collapsing_Before_Our_Eyes.html


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putnamvt

Good, because maybe when Joe Kwan's stomach starts growling, he will develop a sudden interest in The Problem.

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Many More Dangers in Cyprus Than Meet the Eye

Cyprus is a big pain in the neck for one and all. Its banks are bust due to reckless lending to Greece. The sunny island is a beehive of tax evasion, money laundering, dodgy trade and espionage. Now, the threatened bankruptcy of Cyprus has triggered the latest European financial crisis. http://lewrockwell.com/margolis/margolis333.html


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Bernanke States Cyprus Style Depositor Haircuts Possible in U.S. if Events in Europe Become Contagious!

At this afternoon’s FOMC Press Conference in response to a question posed as to whether the Fed would ever impose depositor haircuts as was attempted this week in Cyprus, Fed Chairman Ben Bernanke confirmed that Cyprus style depositor haircut wealth confiscation is possible here in the U.S. if the Cyprus event or another event in Europe were to become contagious and the people lose confidence in the U.S. dollar. http://www.silverdoctors.com/bernanke-states-cyprus-style-depositor-haircuts-possible-in-us-if-events-in-europe-become-contagious/


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The Savings Class is Being Wiped Out Globally

For the first time in recorded history, we have nearly every central bank printing money and trying to debase their currency. This has never happened before. How it’s going to work out, I don’t know. It just depends on which one goes down the most and first, and they take turns. When one says a currency is going down, the question is against what? because they are all trying to debase themselves. It’s a peculiar time in world history. I own the dollar, not because I have any confidence in the dollar and not because it’s sound – it’s a terribly flawed currency – but I expect more currency turmoil, more financial turmoil. During periods like that, people, for whatever reason, flee to the U.S. dollar as a safe haven. It is not a safe haven, but it is perceived that way by some people. http://lewrockwell.com/rogers-j/rogers-j181.html


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Historic Financial Collapse Coming

More than a crisis, it is more accurately described as a collapse of a corrupt inequitable monetary system, and a desperate defense by the major Western bankers to preserve their power over nations and their governments, alongside a vile vicious violent attempt by the United States to maintain its privilege as owner of the vast U.S. dollar counterfeit machinery, as controller of vast banking pillars of paper columns, and as commander of a vast military. The U.S. is about to fall into the Third World. http://www.silverdoctors.com/jim-willie-gritty-questions-on-the-historic-collapse/


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Currency Wars — Race to the Bottom

The lack of stability in fiscal confidence certainly abounds, but the schemes to paper over the mountain of liability obligations, develop at even a more rapid pace. The implied result of a real currency war is that nations are acting or defending their own national interests. The truth is that fiat currencies, designed to depreciate, benefits the moneychangers as the loss of purchasing power penalizes taxpayers and consumers. http://www.batr.org/negotium/022013.html


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Bond Bubble Expectations

Bonds are loans that have the expectation of payback with interest. Government bonds are viewed as the safest financial instrument since the primary fiscal obligation of the state is to honor the terms of their own notes. However, in the fevered climate of currency wars among central banksters, the security factor of capital repayment is rapidly coming into question. As interest rates rise, the economic value of the bond diminishes. This inverted normal relationship is the essential dynamic of lending money with the purchase of Treasury Bonds. So what is all the talk about a bond bubble and likelihood that it will destroy your underwriting capital? http://www.batr.org/negotium/021313.html


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German Gold Repatriation is the Most Significant Gold Event in 50 Years, Beginning of the End of the U.S. Dollar As Reserve Currency

Charles De Gaulle was the first person in modern history to call the hand of the USA on its then obligation to convert French held dollar reserves into gold. I was a senior trader at the time. History will look back on this salvo fired across U.S. war financing as being the beginning of the end of the U.S. dollar as the reserve currency of choice. The reaction on the part of the U.S. was to cut the tie between the dollar and convertibility. This again raises the question of does the USA have fungible gold to the degree that is claimed without 3rd party audits or any viewing publicly whatsoever. http://www.silverdoctors.com/jim-sinclair-german-gold-repatriation-is-the-most-significant-gold-event-in-50-years-beginning-of-the-end-of-the-us-dollar-as-reserve-currency/


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Paul Krugman’s Dangerous Misconceptions

In a recent article at The New York Times entitled ‘Incredible Credibility’, Paul Krugman once again takes aim at those who believe it may not be a good idea to let the government’s debt rise without limit. In order to understand the backdrop to this, Krugman is a Keynesian who thinks that recessions should be fought by increasing the government deficit spending and printing gobs of money. Moreover, he is a past master at presenting whatever evidence appears to support his case, while ignoring or disparaging evidence that seems to contradict his beliefs. http://www.zerohedge.com/news/2012-11-29/guest-post-paul-krugmans-dangerous-misconceptions


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Central Bank Gold Rehypothecation Scandal to Take Gold to $5,000 an Ounce

To call this a financial crisis is like calling Hurricane Sandy just a bad storm, or calling a devastating drought just a dry spell, or calling raging cancer just a growth aberration, or calling a rape violation just an unfortunate encounter, or calling a death sequence just a passing, or calling a business bankruptcy just a bad skein on its account, or calling a home foreclosure just an opportunity to clean house. The nation and the world are undergoing a death sequence for the U.S. dollar regime, and a vigorous corrupt defense to extend its life, in order to maintain power, to continue gigantic thefts, to perpetuate gigantic bond frauds, and to enable foreign account thefts of the traditional type and related to gold. The hidden motive in the Libyan overthrow of Qaddafi was to steal his 144 tons of gold held in London. The banksters needed it. The action and the reporting of the events were typical distractions laced with fiction. http://www.silverdoctors.com/jim-willie-central-bank-gold-rehypothecation-scandal-to-take-gold-to-5000oz/


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Europe is Now Sinking Fast

With the Eurozone having being displaced from the financial headlines by the American presidential election, you might have briefly thought that its problems had gone away. They haven’t. It’s just that the public is expected to absorb one major story at a time. And now that the presidential election is done and dusted, Europe is rapidly returning to the headlines. This is not desired by the powers-that-be, who desperately need us to believe things will get better with a little patience. http://www.zerohedge.com/news/2012-11-20/guest-post-europe-now-sinking-fast


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50,000 Zombie Firms to Fail if Rates Rise

There are almost 150,000 zombie firms in the UK – businesses that are fundamentally broken, and only still alive because ultra-low interest rates are holding down their debt repayments. But while some firms may be able to restructure their debts and business processes to thrive in the long run, up to 50,000 are deemed “beyond hope” by the IfT, as they can barely pay interest on their debts, let alone repay the capital. http://www.cityam.com/latest-news/50000-zombie-firms-fail-if-rates-rise#.UKIUBjml_nA.twitter


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The Financial Super-Storm of 2013

The destructive whirlwind that hits New York in 2013 will be a financial Frankenstorm. Four years of glorious central-planning “extend and pretend” have enriched the political and financial Aristocracies, and imbued them with a bubble-era hubris that they have indeed gotten away with murder: the $6 trillion the Federal government borrowed over the past four years, the Fed’s $2 trillion in fresh cash, the Fed’s $16 trillion bailout of the banking sector and various perception management manipulations have righted the storm-tossed ship. All those with power in 2008 remain in power and all those with outsized wealth in 2008 still hold their outsized wealth. The global tsunami of borrowed and printed money lifted the water-logged dinghies of the debt-serfs enough to give them hope of better times; meanwhile, their adjusted income has declined 8%: they are poorer while the neofeudal Aristocracy is much wealthier: same as it ever was, right? Except the financial tides and winds have shifted, and the linearity of central planning is about to be disrupted by nonlinear, positive-feedback storms. Let’s list a few of the major storms brewing. http://www.zerohedge.com/news/2012-10-31/guest-post-financial-super-storm-2013


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European Commission Single Supervisory Mechanism

The lack of enthusiasm for the latest effort to centralize all banking and monitory regulation within the European Central Bank suggests that the surreal struggle for continental unanimity still resides in the minds of banksters. Elites still seek to perfect the class distinguish of century old traditions, into a modern version of feudal serfdom. Globalism is the brainchild of the cabal of international banking. As long as a financial monopoly dominates political institutions, the end result will be more consolidation of the rule of the House of Rothschild. http://www.batr.org/negotium/103112.html


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Secession Fever Sweeping Europe Meaningless Without Debt Repudiation

The first nations to repudiate sovereign debt will have the advantage; this is why restored nations should repudiate these debts and not burden their new national economy and citizens with this junk debt. In addition, these nations should repudiate their existing politicians and representatives, controlled by the financial elites who supported the debt accumulation; because once independence is restored there is nothing to stop politicians on the take from doing the same thing again. http://www.thedailybell.com/28196/Ron-Holland-Secession-Fever-Sweeping-Europe-Meaningless-Without-Debt-Repudiation


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Central Banks Game Plan: One World Currency

Only those in total denial would claim that the world economies could grow their way out of the debt bubble. Mathematically, the rules of compound interest always destroy the purchasing value of fiat currencies. The era of zero interest rates will end. When the cost to finance debts reverts to normal levels, the bleeding will become a gusher. The world reserve currency status of Federal Reserve Notes will come under enormous pressure. As the central banks consolidate their control over international commerce and the economies of individual countries, the coin of the new realm will shift to a replacement for the U.S. Dollar. http://www.batr.org/negotium/102412.html


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Derivative Meltdown and Dollar Collapse

Nation states held hostage to financial manipulation are slaves to the central banks. With the demise of the Dollar, the fake debt obligations of the United States must be repudiated. Foreign states are prepared to sever their links to the Dollar reserve currency, by trading directly in the domestic currencies of other countries. Interacting commerce in Dollars with American companies will continue, but the yoke of Federal Reserve Notes legal tender will be rejected when the derivative meltdown explodes. http://www.batr.org/negotium/101712.html


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Let’s Talk About Facts, Not Fear

It’s not just debt burdens that are problematic. ‘Rich’ countries in the West are also rapidly debasing their currencies, spawning tomes of regulatory impediments, restricting the freedoms of their citizens, aggressively expanding the powers of the state, and engaging in absurd military folly from Libya to the South China Sea. Once again, this is not the first time history has seen such conditions. In our own lifetimes, we’ve seen the collapse of the Soviet Empire, the tragi-comical hyperinflation in Zimbabwe, and the unraveling of Argentina’s millennial crisis. Plus we can study what happened when empires from the past collapsed. The conditions are nearly identical. Is our civilization so different that we are immune to the consequences? http://www.zerohedge.com/news/2012-10-15/guest-post-lets-talk-about-facts-not-fear


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Preparing for the Collapse

They say the best defense is a good offense, but sometimes it’s the exact opposite. If you have a good defense, you don’t need to worry about what offense the other team has. Such is the case with the coming financial collapse. http://www.theinternationalforecaster.com/International_Forecaster_Weekly/Preparing_for_the_Collapse


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What Will Benefit From Global Recession? The U.S. Dollar

Many times what “should” happen does not happen. For example, global stock markets “should” decline as the global economy free-falls into recession, as global recession is not exactly an ideal scenario for rising corporate sales and profits or demand for commodities. Yet global markets are by and large rising significantly. Sometimes what “should” happen is simply being delayed. In other cases, some other dynamic is at work. Stock market bulls, for example, say the “other dynamic” is global money-printing by central banks, and this “easing” will power stocks higher even as sales and profits sag. Analysts who believe fundamentals eventually over-ride monetary manipulation believe the stock market decline has only been delayed, not banished. A similar tug-of-war is playing out between those who feel the U.S. dollar “should” decline in the years ahead and those who see the dollar strengthening significantly. http://www.zerohedge.com/news/2012-10-09/guest-post-what-will-benefit-global-recession-us-dollar


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Economy 101

I have been warning anyone who will listen that our worldwide economic system based on the Fabian-Keynesian economic system would collapse in 2013-14. Most have ignored my warnings much to their own peril. The situation has in the last two months deteriorated considerably and thus I am again warning you to guard your assets, because they are now in greatest peril. I will make this short and to the point. The outcome of this election has little bearing on the situation because the inherent congressional and executive financial overreach places such dramatic financial pressure on the economy that it cannot survive the oncoming debacle. By February of 2013 America will have to provide an additional trillion dollars to meet the already established Obama expenditures. No running candidate if elected can do anything to prevent that. http://www.a2zpublications.com/blog/46/Economy-101


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China to Challenge U.S. Dollar Reserve Currency Status

China is actively taking steps to phase out the US dollar which will decrease volatility in oil and commodity prices and deride the ‘exorbitant privilege’ the USA commands as the issuer of the reserve currency at the centre of a post-war international financial architecture which is now failing. In 1971, U.S. Treasury Secretary John Connally said, “It’s our currency and your problem”. China is frustrated with what it sees as the US government’s mismanagement of the dollar, and is now actively promoting the cross-border use of its own currency, the yuan, or also called the renminbi, in trade and investment. http://maxkeiser.com/2012/10/04/china-to-challenge-us-dollar-reserve-currency-status/#more-54724


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Eurozone Unemployment at Record Levels

Factory output has shrunk for 14 consecutive months and businesses must continue to trim the fat of their organizations during these recessionary times. The report showed that 18.2 million people were jobless in September; this is an increase of 34,000 people versus the previous month. As living standards fall and livelihoods are being wretched voter anger is becoming increasingly palpable, especially in countries such as Spain and France. History provides countless lessons as to the political consequences of detached economic policies and their real effects. http://www.zerohedge.com/news/2012-10-01/eurozone-unemployment-record-levels


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14 Signs That the World Economy is Getting Weaker

Anyone that believes that the United States (or any other major nation for that matter) is going to escape the next wave of the economic crisis is simply not being realistic. Why do you think central banks all over the world are in “panic mode” right now? They are firing all of their ammunition and printing money like there is no tomorrow in an attempt to keep the system together. Unfortunately, it is not going to work. http://theeconomiccollapseblog.com/archives/14-signs-that-the-world-economy-is-getting-weaker


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BRIC Hallucination: China Won’t Be Engine of New World Order, Nor Russia, Nor India

In the New World Order, the BRIC nations – developing nations – are to be the engine of global growth. That is at least what officials from the foremost global institutions have maintained all along, divorcing their narrative from the other, more populist narrative of just what the ‘New World Order’ is. That the ‘New World Order’ is not a standardization of the world system of financial governance, but, instead, merely a shift of power away from the North to the South has been the storyline given from technocrats, politicians and banksters through the entire crisis since 2008. But, as the crisis wears on and reveals itself to be globally systemic and evasive in nature – endemic to globalization – the future takes on a different aura. http://silvervigilante.com/bric-hallucination-china-wont-be-engine-of-new-world-order-nor-russia-nor-india/


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Death Knells for the U.S. Dollar

The bankers are determined to ruin the entire system in order to retain power, all while dispensing increasingly nonsensical dogma like from heretical high priests about the effectiveness of their solutions. Theirs is heresy built upon alchemy laced with arrogance, with no precedent of success in past history. http://www.silverdoctors.com/jim-willie-death-knells-for-the-usdollar/


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QE3 — Blowing Up the Debt Bubble

Step back and view the big historic picture. The lesson from the Roman Empire repeats with a vengeance, in the era of digital bookkeeping. Yet the “bread and circus,” food stamps and sports arena society shares the same fate. http://www.batr.org/negotium/091912.html


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Junkie Recovery

As I see it, the West’s economic depression is being directly caused by an excessive total debt burden — just as Japan’s has been for twenty years; the bust occurred on the back of a huge outgrowth of debt and coincided with the beginning of a painful new era of deleveraging. And the central bank response has been to preserve the debt burden, thus perpetuating the problems rather than allowing them to clear in a short burst of deflationary liquidation as was the norm in the 18th and 19th centuries. http://www.zerohedge.com/news/guest-post-junkie-recovery


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Morgan Stanley Faces Imminent Failure and Ruin

Begin with a preface to any meaningful that could change the entire US landscape, a redux of what happened four years ago. Consider the next Wall Street financial firm failure. It is in progress. It is not avoidable. It will have numerous ramifications. It will open the door to account thefts, the burial of documents, the ransack of undesired leveraged positions, the concealment of wrecked derivatives, and a path toward the merger of surviving (selected core) firms. http://www.silverdoctors.com/jim-willie-morgan-stanley-faces-imminent-failure-ruin-may-see-1st-private-stock-account-thefts/#more-12746


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Jewish Supremacists Behind Financial Collapse, Says Leading Wall Street Economist

Joachim Martillo

Read this article and watch this video! It concerns the statements of a leading financial analyst Joachim Martillo, a well-credentialed economist who had worked with Israeli and American defense corporations. In this press interview he exposes the reality of Jewish ethnic networking in the financial structure and political connections that enable the theft of trillions of dollars from the world’s economy. He also shows how they network to steal trillions and also network to protect themselves from punishment for their enormous crimes. http://www.davidduke.com/?p=35375


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Why We Can All Kiss This Financial System Goodbye

The bottom line is we have a world which has been dominated by fiat currencies, and we are now experiencing the end, the final throes of that failed global experiment in a purely fiat money based system. http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/7/22_Why_We_Can_All_Kiss_This_Financial_System_Goodbye.html


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A Eurocrash Is Baked in the Cake

At this point the Europeans are so craven and degraded they deserve to be indentured servants of the Chinese, which they will be. The debt they are using to finance their bulging bureaucracies, bloated welfare rolls, giant pensions, and so forth is largely coming from the banks. But the banks are all bankrupt too, partly because they’ve lent so much capital to bankrupt governments. So you’ve got two sets of bankrupt institutions trading debt back and forth between themselves. It doesn’t help to say that it’s the PIIGS that are in the worst shape, because it’s the banks in the supposedly wealthier countries that own the PIIGS’s debt. They are all tied together. http://www.caseyresearch.com/articles/doug-casey-eurocrash-baked-cake?ppref=GLD231ED0612A


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Bank for International Settlements on Big Banks

World consumers are being pick-pocketed in the graveyard of financial ruin. Strip away the skin of a decayed corpse and what remains is the stark skeleton of a dead paper monitory system. The life-support methods used to keep the interest payments accruing, only forestall the day of reckoning. The end game for the central bankers is foreclosure on pledged guarantees. Currency swaps will become a recall of national fiat species and a replacement with a float of a new world coinage. National governments are mere public diversions from the real power behind the thrones. http://www.batr.org/negotium/062712.html


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The Depression Goes Global

While the attention of the financial world and the business press have been focused so completely on the daily developments in Europe – though there’s not a game changer among them – other economic news from around the world has been largely crowded out. The real news is that the depression is going global. The spreading of the slowdown can be seen in the so-called BRIC nations. Surging growth from Brazil, Russia, India, and China has helped drive some of the world’s economic vitality for a few years now. But the downturn is now taking hold in those countries, leaving little to resist the rip tide of depression. http://lewrockwell.com/goyette/goyette39.1.html


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More Icelandic Bankers Arrested

Little Iceland is the only country with the gumption to stand up to the international bankster-gangsters who are openly looting the world. http://www.icenews.is/index.php/2011/01/20/more-icelandic-bankers-arrested/


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putnamvt

Greenland will be a warmer topic in the coming years, no pun intended.

Raymond

Great for the Icelanders. I hope the Greeks with the assistance of Golden Dawn can do the same thing and start a chain reaction in Europe at least. I have little hope the dumbed-down, moronic US population will do anything, though.

Rita Kirschner

GLOBAL ELITES THROWN OUT OF ICELAND: Iceland Dismantles Corrupt Gov™t Then Arrests All Rothschild Bankers June 18th, 2012 | Author: The Meister Since the 1900′s the vast majority of the American population has dreamed about saying “NO” to the Unconstitutional, corrupt, Rothschild/Rockefeller banking criminals, but no one has dared to do so. Why? If just half of our Nation, and the “1%”, who pay the majority of the taxes, just said NO MORE! Our Gov™t would literally change over night. Why is it so hard, for some people to understand, that by simply NOT giving your money, to large Corporations, who then send jobs, Intellectual Property, etc. offshore and promote anti-Constitutional rights… You will accomplish more, than if you used violence. In other words… RESEARCH WHERE YOU ARE SENDING EVERY SINGLE PENNY!!! Is that so hard? The truth of the matter is… No one, except the Icelanders, have to been the only culture on the planet to carry out this successfully. Not only have they been successful, at overthrowing the corrupt Gov™t, they™ve drafted a Constitution, that will stop this from happening ever again. That™s not the best part… The best part, is that they have arrested ALL Rothschild/Rockefeller banking puppets, responsible for the Country™s economic Chaos and meltdown. Pressure from Icelandic citizens™ has managed not only to bring down a government, but also begin the drafting of a new constitution (in process) and is seeking to put in jail those bankers responsible for the financial crisis in the country. As the saying goes, if you ask for things politely it is much easier to get them. This quiet revolutionary process has its origins in 2008 when the Icelandic government decided to nationalise the three largest banks, Landsbanki, Kaupthing and Glitnir, whose clients were mainly British, and North and South American. After the State took over, the official currency (krona) plummeted and the stock market suspended its activity after a 76% collapse. Iceland was becoming bankrupt and to save the situation, the International Monetary Fund (IMF) injected U.S. $ 2,100 million and the Nordic countries helped with another 2,500 million. Great little victories of ordinary people While banks and local and foreign authorities were desperately seeking economic solutions, the Icelandic people took to the streets and their persistent daily demonstrations outside parliament in Reykjavik prompted the resignation of the conservative Prime Minister Geir H. Haarde and his entire government. Citizens demanded, in addition, to convene early elections, and they succeeded. In April a coalition government was elected, formed by the Social Democratic Alliance and the Left Green Movement, headed by a new Prime Minister, Jóhanna Sigurðardóttir. Throughout 2009 the Icelandic economy continued to be in a precarious situation (at the end of the year the GDP had dropped by 7%) but, despite this, the Parliament proposed to repay the debt to Britain and the Netherlands with a payment of 3,500 million Euros, a sum to be paid every month by Icelandic families for 15 years at 5.5% interest. The move sparked anger again in the Icelanders, who returned to the streets demanding that, at least, that decision was put to a referendum. Another big small victory for the street protests: in March 2010 that vote was held and an overwhelming 93% of the population refused to repay the debt, at least with those conditions. This forced the creditors to rethink the deal and improve it, offering 3% interest and payment over 37 years. Not even that was enough. The current president, on seeing that Parliament approved the agreement by a narrow margin, decided last month not to approve it and to call on the Icelandic people to vote in a referendum so that they would have the last word. The bankers are fleeing in fear Returning to the tense situation in 2010, while the Icelanders were refusing to pay a debt incurred by financial sharks without consultation, the coalition government had launched an investigation to determine legal responsibilities for the fatal economic crisis and had already arrested several bankers and top executives closely linked to high risk operations. Interpol, meanwhile, had issued an international arrest warrant against Sigurdur Einarsson, former president of one of the banks. This situation led scared bankers and executives to leave the country en masse. In this context of crisis, an assembly was elected to draft a new constitution that would reflect the lessons learned and replace the current one, inspired by the Danish constitution. To do this, instead of calling experts and politicians, Iceland decided to appeal directly to the people, after all they have sovereign power over the law. More than 500 Icelanders presented themselves as candidates to participate in this exercise in direct democracy and write a new constitution. 25 of them, without party affiliations, including lawyers, students, journalists, farmers and trade union representatives were elected. Among other developments, this constitution will call for the protection, like no other, of freedom of information and expression in the so-called Icelandic Modern Media Initiative, in a bill that aims to make the country a safe haven for investigative journalism and freedom of information, where sources, journalists and Internet providers that host news reporting are protected. The people, for once, will decide the future of the country while bankers and politicians witness the transformation of a nation from the sidelines. Hurrah and applause for the brave people of Iceland!

Raymond

Hmm, I wonder when the NWO will declare Iceland a rogue state because they are attempting to throw off the banksters. Looks like the Amerikwan Navy will have to divert a couple aircraft carriers up there and start launching airstrikes.

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Monday Will Not Be The End Of The World, Sorry

At some point, in the next few weeks, it will come down to a calculation of just how much money the EU is willing to spend to support Greece and not cause a default and if Greece is to leave the Euro I think it is much more likely that they will be forced out rather than leave on their own decision. In the meantime the situation in Spain will worsen as the needs of their banks and of their Regional debts throw the country past the borderline of self-help. Aid will be called for in increments and it will probably total $350-400 billion by the time the final tally is made. Europe cannot afford this and I would not be surprised to see one of the funding countries saying that is it for them which will throw Europe into a tailspin. Effectively there are bank runs underway in both Greece and Spain currently and while no central bank will talk about it and no politician mentions it there is every indication that this is what is taking place each and every day now. It would not surprise me to see the imposition of capital controls and then a new round of havoc will ensue. http://www.zerohedge.com/news/monday-will-not-be-end-world-sorry


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Look Back for the Future in Europe and America

History is getting ready to repeat itself and peoples and nations will once again be devastated by a depression born out of hidden excesses by banking elites and an unbearable level of sovereign debt created by “bought off” politicians. Whether the effects of a worldwide depression will again be countered by another world war is the only real question facing the world today. I believe the failed European Union is going down and this will be only a precursor to an identical economic collapse by the American Union. Of course the power elites will attempt to use the real or manufactured crisis as a pretext to expand the EU but I don’t believe they will succeed. The speed of events and flow of alternative news renders their old style propaganda powerless to keep up with and control public opinion today. http://lewrockwell.com/holland/holland63.1.html


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Banks Are An Endangered Species

In the long run, all the hullabaloo about the various global banking crises is just hot air. The old establishment banks — the ones that have been bailed out this week in Spain, and in 2008 in America — are unnecessary middlemen. This is because of the ludicrous spreads from which they profit. They borrow from central banks and from depositors at absurdly low rates of interest (that’s what ZIRP is all about) and lend at vastly higher rates. What useful function does it serve? At one time, banks generated value by being wise lenders, lending to businesses that they determined would add value. Today they prefer gamble up even bigger profits in the zero-sum derivatives casino and shadow banking whorehouse, requiring frequent bailouts when such schemes go awry. They are dinosaurs that offer no real value to their shareholders, their customers, or to society. And for all their claims of systemic importance, for all the bailouts, all the whining, all the pontification they are gradually being sidelined by other forms of intermediation, specifically peer-to-peer lending wherein lenders and borrowers are matched directly often via the internet. The lender gets interest, the borrower pays interest, but because there is no middleman taking a (huge) cut both rates are more favourable — the borrower pays less interest, the lender receives more interest. http://www.zerohedge.com/news/banks-are-endangered-species


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Global Markets in Extraordinarily Dangerous Situation

What is worrying professionals around the world is what ammunition do the Fed and other central banks in the West have left? At some point they have to realize that the policies they are following are ineffective. So far we’ve had $2.5 trillion of QE in the U.S., but what do we have to show for it? Nothing. We have just postponed the inevitable. http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/6/8_Norcini_-_Global_Markets_In_Extraordinarily_Dangerous_Situation.html


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The ‘Solution’ is Collapse

The basic idea is that when the carrying costs of the society exceed its output, the whole contraption collapses. The political adjunct to this systemic implosion is that the productive people just stop supporting the Status Quo because it’s become too burdensome. The calculus of self-interest shifts from supporting the bloated, marginal-return Status Quo to abandoning it. http://www.zerohedge.com/news/guest-post-solution-collapse


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How to Unscramble an Egg

For those of our readers who don’t understand the mess with the Euro and the pending exit from the Euro of Greece, here’s what you need to know. http://www.321gold.com/editorials/moriarty/moriarty052412.html


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Europe’s Economic Suicide

Dismissing the propaganda-like vision of growth and jobs that is now at the forefront of any and every word from the status-quo seekers that are the European Elite, England’s Nigel Farage notes the hypocrisy of the forthcoming summit’s agenda. The Euro itself was supposed to create growth and jobs and yet it is actively destroying both of those things – more of the same – as the medicine is killing the patient. He attacks the idea that the world will end if Greece were to exit the Euro – “European leaders say if Greece leaves the sky will fall in – it won’t!” – though notes that there will indeed be a difficult few weeks – and when challenged by a Greek politician (who questions what will happen when gas prices for Greeks rise on Farage’s suspected 50% devaluation in the Drachma), Nigel, offering the other side of the coin related to real growth, investment, and innovation to compete with expensive imports pointedly remarks: “Give Greece a chance because stuck inside the Euro, you are going to be literally destroyed.” http://www.zerohedge.com/news/nigel-farage-europes-economic-suicide


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Recovery or Collapse? Bet on Collapse

With an eye on the approaching dollar crisis, which will wreck the international financial system, the presidents of China, Russia, Brazil, South Africa, and the prime minister of India met last month to discuss forming a new bank that would shield their economies and commerce from mistakes made by Washington and the European Union. The five countries, known as the BRICS, intend to settle their trade with one another in their own currencies and cease relying on the dollar. The fact that Russia, the two Asian giants, and the largest economies in Africa and South America are leaving the dollar’s orbit sends a powerful message of lack of confidence in Washington’s handling of financial matters. It is ironic that the outcome of financial deregulation in the U.S. is the opposite of what its free market advocates promised. In place of highly competitive financial firms that live or die by their wits alone without government intervention, we have unprecedented financial concentration. Massive banks, “too big to fail,” now send their multi-trillion dollar losses to Washington to be paid by heavily indebted U.S. taxpayers whose real incomes have not risen in 20 years. The banksters take home fortunes in annual bonuses for their success in socializing the “free market” banks’ losses and privatizing profits to the point of not even paying income taxes. In the U.S. free market economists unleashed avarice and permitted it to run amuck. Will the disastrous consequences discredit capitalism to the extent that the Soviet collapse discredited socialism? Will Western civilization itself survive the financial tsunami that deregulated Wall Street has produced? http://www.paulcraigroberts.org/2012/05/20/recovery-or-callapse-bet-on-collapse/


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LabMan

So many solid points,as usual made here,this man reminds me of Paul O'Neil who was kicked out of government for telling the same truths,to present an essay such as this to friends and family brings sure derision,"but the unemployment rate is only 8.2%" say they,again showing that they have been "fooled by a faux", America's favorite news outlet,the strain,and uneasiness can be seen on their faces,and be picked up in voice patterns as they carefully avoid sites such as this,and God forbid they read "the voice of real America",Nationalist Times,just a bit off topic,but I attend quite a few youth baseball games each week,both little and Pony league,these being played in upscale areas where not a person of color can be seen,only to hear the horrific lyrics of rap music blaring from the P.A. system,so indroctinated are the White officials of these leagues it appears that they will somehow be smiled upon by the gods of diversity if they play the representitive music,the saddest part of the this rant is to see their sons wearing their baseball caps cocked to the side,and their beautiful daughters moving to the primitive beat of this music,this is truly "no country for old men"!

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Iceland, a Country That Wants to Punish the Bankers Responsible for the Crisis

Since 2008 the vast majority of the Western population dream about saying “no” to the banks, but no one has dared to do so. No one except the Icelanders, who have carried out a peaceful revolution that has managed not only to overthrow a government and draft a new constitution, but also seeks to jail those responsible for the country’s economic debacle. http://pressenza.com/npermalink/icelandx-a-country-that-wants-to-punish-the-bankers-responsible-for-the-crisis


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Expect Tremendous Chaos, Europe Deteriorating Rapidly

Bankers are running scared because so many banks are on the verge of insolvency or have already reached that state. So they are not lending. They are still way over-leveraged and trying to work off all the bad loans they still have on their books. Because it is difficult for companies to finance their operations, economic activity, pretty much everywhere throughout the EU, continues to contract. This in turn is causing more bad loans at the banks and yet more contraction of bank loans to businesses. http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/5/15_Turk_-_Expect_Tremendous_Chaos,_Europe_Deteriorating_Rapidly.html


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Why U.S. Politicians Are Quiet About Europe’s Meltdown

After the Greek elections struck fear into the hearts of the global banksters, the fallout remains uncertain. If the next Greek election produces an anti-austerity government, Greece will almost certainly make a speedy exit from the euro. If this happens — and it is looking increasingly inevitable — the consequences for the global economy are spectacularly gloomy. Yet U.S. media and U.S. politicians are largely silent on the issue, almost as if nothing were happening. http://www.countercurrents.org/cooke140512.htm


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The Death Spiral of Debt, Risk and Jobs

What we have is a Central State and an economy that has borrowed and squandered trillions of dollars on consumption and malinvestment in unproductive “stranded” assets. The debt and risk pile up, while the labor that results from consumption is temporary and does not create wealth or permanent employment. Figuratively speaking, we’re stranded in a McMansion in the middle of nowhere, a showy malinvestment that produces no wealth or value, and we’re wondering how we’re going to pay the gargantuan mortgage and student loans. Debt and the risk generated by rising debt create a death-spiral when the money is squandered on consumption, phantom assets, speculation and malinvestments. Sadly, that systemic misallocation of capital puts the job market in a death spiral, too. http://www.zerohedge.com/news/guest-post-death-spiral-debt-risk-and-jobs


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Austerity Staggers, Germany Blows Up?

Here’s another winning analysis from UK Telegraph columnist Ambrose Evans-Pritchard, in our view. As spectacularly wrong as he was about Spain avoiding a collapse (and we called him on it then, months ago) so we think he’s correct about the demise of austerity in Europe. This will be a big blow to the one-world government plans by the elites that have seemingly been moving quickly to secure a more integrated world in all aspects, legislative, judicial, monetarily and militarily. They use fear-based dominant social themes to generate these preferred consequences. People are to be prevailed upon to give up power and wealth to globalist institutions as a result of these faux, fear-based promotions. http://www.thedailybell.com/3841/Austerity-Staggers-Germany-Blows-Up


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Ten Minutes After the Titanic Struck the Iceberg

The financial system of the United States of America is like the Titanic. Hubris led many to declare it financially unsinkable even as its fundamental design was riddled with fatal flaws and the human pilots in charge ran it straight into the ice field at top speed. http://www.zerohedge.com/news/guest-post-ten-minutes-after-titanic-struck-iceberg


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You Ain’t Seen Nothing Yet

Watching pompous politicians, egotistical economists, arrogant investment geniuses, clueless media pundits, and self- proclaimed experts on the Great Depression predict an economic recovery and a return to normalcy would be amusing if it wasn’t so pathetic. Their lack of historical perspective does a huge disservice to the American people, as their failure to grasp the cyclical nature of history results in a broad misunderstanding of the Crisis the country is facing. The ruling class and opinion leaders are dominated by linear thinkers that believe the world progresses in a straight line. Despite all evidence of history clearly moving through cycles that repeat every eighty to one hundred years (a long human life), the present generations are always surprised by these turnings in history. I can guarantee you this country will not truly experience an economic recovery or progress for another fifteen to twenty years. If you think the last four years have been bad, you ain’t seen nothing yet. Hope is not an option. http://www.zerohedge.com/news/guest-post-you-aint-seen-nothing-yet-part-one


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Money From Nothing — A Primer on Fake Wealth Creation and Its Implications

What is fraud except creating “value” from nothing and passing it off as something? Frauds interlink and grow upon each other. Our debt-based money system serves as the fraud foundation. In our debt-based money system, debt must grow in order to create money. Therefore, there is no way to pay off aggregate debt with available money. More money must be lent into the system to make the payments for old debts. This causes overall debt to expand as new money for actual people (vs. banks) always arrives at interest and compounds exponentially. This process is called financialization. http://www.zerohedge.com/news/guest-post-money-nothin-primer-fake-wealth-creation-and-its-implications-part-1


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Spain’s Lost Generation: Youth Unemployment Surges Above 50 Percent

More than half of young Spaniards are out of work, according to fresh statistics, signalling a lost generation that has been hit hardest by Spain’s economic woes, as the total number of unemployed surged above five million. http://www.telegraph.co.uk/news/worldnews/europe/spain/9044897/Spains-lost-generation-youth-unemployment-surges-above-50-per-cent.html


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Enjoy The Central Bank Party While It Lasts

Central banks are printing money all over the world. New names have been given to what is really an age old phenomenon. Desperate governments have traditionally debased their currencies when they have no other way of financing their deficits. Quantitative easing, LTRO, Fed/ECB swaps, whatever. A new technocratic lexicon has been invented to cover what is really a time honored expedient of debasement and paper money printing. http://www.zerohedge.com/news/guest-post-enjoy-central-bank-party-while-it-lasts


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Readying the Greek Corpse for Burial

Greece is being systematically raped, pillaged and destroyed. Bankers demand it. What they want, they get, no matter the human toll and economic ruin. http://www.veteranstoday.com/2012/03/01/readying-the-greek-corpse-for-burial/


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Financial Vehicles of Mass Destruction

No one in politics or on Wall Street is going to stop the deficits; that is part of how the economy is kept afloat. The only exception being Ron Paul. Perhaps the Fed, Wall Street, the City of London and all central banks think they can extend survival forever via money and credit, but they cannot. Inflation will devour them. Living has been difficult for the past five years. What you have seen is nothing. The next five years will be like living in Hades. There are no solutions for the debt of the US, UK and Europe. All will eventually collapse. There is only one solution to the end of the financial system as we know it. http://www.theinternationalforecaster.com/International_Forecaster_Weekly/Financial_Vehicles_of_Mass_Destruction


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Incredible14U

Hah, a printing press! i got one at home just like that, next to the money tree.....

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Greece: The Epicenter of Global Pillage

Predatory bankers make serial killers look good by comparison. Their business model creates crises to facilitate grand theft, financial terrorism, and debt entrapment. They steal all material wealth and then some. They systematically rob investors and strip mine economies for self-enrichment. They demand they get paid first. They hold nations hostage to assure it. They turn crises into catastrophes. They leave mass impoverishment, high unemployment, neo-serfdom, and human wreckage in their wake. http://12160.info/profiles/blogs/greece-the-epicenter-of-global-pillage?xg_source=activity


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Raymond

What a shame too, with Greece being the birthplace of Western civilization. Where is a modern-day Leonidas and his 300 Spartans when the Greeks need him?

Incredible14U

Globalization was used to intertwine and link all the world economies into one network of economics, from its seperate trading of countries and small blocks. The next step is to bring down through debt every country on the planet by getting them all into debt. This is almost complete. Thereby a small hidden elite of bankers will control everything. This will be the final dictatorship on earth. Led by a tyrannical montrous dictator who's "soul" aim is to make mankind its slave.

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Greece: The Epicenter of Global Pillage

Predatory bankers make serial killers look good by comparison. Their business model creates crises to facilitate grand theft, financial terrorism, and debt entrapment. http://www.veteranstoday.com/2012/02/22/greece-the-epicenter-of-global-pillage/


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Why the U.S. Economy Could Go Haywire

Of concern to Davidson, among other things, are an unfavorable demographic trend (an aging population) and a global debt crisis, both of which he views as essentially insoluble, a contraction here of real personal income, a developing recession in Europe, which will mean a downturn in the U.S., and the prospective toppling of more European governments on top of the seven that have already toppled, a grave situation magnified by the shaky financial condition of European banks. All told, there are about $87 trillion of assets in the world banking system, around $40 trillion of which are estimated to be in European banks. On average, Davidson points out, European banks are woefully insolvent and leveraged at 26 to 1, meaning, he said, a 4% loss would wipe out their capital. Conservatively, he points out, these banks are about $300 billion short of the capital needed just to make adequate provision for the sovereign debt they hold. http://www.zerohedge.com/news/guest-post-why-us-economy-could-go-haywire


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