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THE ECONOMY & YOU # (Daily Updated Videos & Articles)

 
RoXY (OP)

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07/07/2012 01:15 PM
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Re: THE ECONOMY & YOU # (Daily Updated Videos & Articles)
Job Crisis Denial: The Rising Tide of Unemployment in America
by Shamus Cooke
July 7, 2012

Before any problem can be fixed it must first be acknowledged. The jobs crisis stays in the shadows, out of mind, and consequently unaddressed. This is allowed to happen because those in power - Republicans and Democrats - both have political reasons to remain silent.

When the jobs crisis is discussed, the word "crisis" is seldom used, and the conversation is conducted with hushed tones and minimizing vocabulary. Therefore, when the monthly national jobs report was announced for June, there was quiet grumbling instead of passionate oratory; passivity instead of mobilization and action.

In the last three months the country added an average of 75,000 jobs a month. But job creation per month must be over 100,000 to keep up with young workers entering the workforce; therefore the real number of unemployed has steadily increased, on top of the mountain of already long-term unemployed.

CONTINUE: [link to globalresearch.ca]
RoXY (OP)

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07/07/2012 04:15 PM
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Re: THE ECONOMY & YOU # (Daily Updated Videos & Articles)
‘The mob learned from Wall Street’: Eliot Spitzer on the ‘cartel-style corruption’ behind Libor scam


Marxist

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07/07/2012 06:43 PM
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The term "austerity" masks a deeper reality...the conflict over worker tax and pension payments to the state, payments which are increasingly being used to promote bubbles (the housing bubble in Spain for example)as well as to cover risk in the speculative market.
Workers of the World, Unite. You have nothing to lose but your chains!
RoXY (OP)

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07/08/2012 06:37 PM
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Re: THE ECONOMY & YOU # (Daily Updated Videos & Articles)
The Collapsing US Economy and the End of the World
Paul Craig Roberts
Sunday, July 8, 2012
Activist Post

In a recent column, “Can The World Survive Washington’s Hubris,” I promised to examine whether the US economy will collapse before Washington in its pursuit of world hegemony brings us into military confrontation with Russia and China. This is likely to be an ongoing subject on this site, so this column will not be the final word.

Washington has been at war since October, 2001, when President George W. Bush concocted an excuse to order the US invasion of Afghanistan. This war took a back seat when Bush concocted another excuse to order the invasion of Iraq in 2003, a war that went on without significant success for 8 years and has left Iraq in chaos with dozens more killed and wounded every day, a new strong man in place of the illegally executed former strongman, and the likelihood of the ongoing violence becoming civil war.

Upon his election, President Obama foolishly sent more troops to Afghanistan and renewed the intensity of that war, now in its eleventh year, to no successful effect.

CONTINUE: [link to www.activistpost.com]
RoXY (OP)

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07/08/2012 07:01 PM
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Re: THE ECONOMY & YOU # (Daily Updated Videos & Articles)
Euro Crisis Breakthrough Breakdown - Nigel Farage


RoXY (OP)

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07/08/2012 07:12 PM
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LIBOR: The Largest Insider Trading Scandal Ever - Big Banks Are Rotten to the Core
by Washington's Blog
July 8, 2012

CONTINUE: [link to globalresearch.ca]
RoXY (OP)

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07/08/2012 07:17 PM
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Dismal Jobs Report Reflects Economic Decline
by Stephen Lendman
July 7, 2012

Years ago, America's economy was a job creation machine. Today it's rusted, wheezing, and sputtering on the way to collapsing.

In June, America added 80,000 jobs. U-3 unemployment remained at 8.2%. Based on 1980 calculations, it tops 22%.

Most jobs created are part-time, low-pay temp ones. The nation's manufacturing base largely exists offshore. So do many high-pay service jobs.

Expectations were missed for the fourth straight month. Typically at this stage of the economic cycle, around a quarter million monthly jobs are created. Moreover, 36 months after an alleged recovery, U-3 unemployment is 3.6% below the pre-recession high.

The household survey adjusted on a comparable basis to the headline payroll one showed 153,000 June job losses. It was the third decline in the past four months. In total, 666,000 jobs are gone.

Average hours worked fell to 0.4% year-over year down from 4.3% in Q 1. It suggests downward GDP forecast revisions anywhere from 1.5% to contraction.

The University of Michigan "favorable (employment) news" index plunged to 27 in June from 34 in April and May. In March it was 38.

It reached a 2012 low. Since 1980, a decline of seven points month-over-month occurred only six times. In contrast, unfavorable employment new rose five points to 28. It hit a yearly high.

The Conference Board's "jobs hard to get" index rose to 41.5 in June. It reflected a five-month high. In May it increased to 40.9 from 38.1 in April. The ISM jobs index fell slightly from 56.9 to 56.6 month-over-month.

Initial jobless claims averaged 387,000 in June. They rose 3% over May. In the past decade, months in which they increased this much saw declining payrolls over 70% of the time.

Average hours worked fell to 0.4% year-over year down from 4.3% in Q 1. It suggests downward GDP forecast revisions anywhere from 1.5% to contraction.

CONTINUE: [link to globalresearch.ca]
RoXY (OP)

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07/11/2012 05:16 PM
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The Big Banks are Amateurs When It Comes to Manipulating Interest Rates
by Washington's Blog
July 10, 2012

Who Are The Biggest Manipulators of All?
People are justifiably furious over the big banks’ manipulation of hundreds of trillions of dollars of assets. This violates the banks’ most central function: loaning money based upon the going rate.

Indeed, the Libor manipulation is so serious that even mainstream economists are starting to call for heads to roll.

The Bank of England and Federal Reserve’s encouragement of Libor manipulation is not an isolated incident. Rather than being an aberration, it is their central effort.

Indeed, the big banks are rank amateurs when it comes to manipulating interest rates. Central banks have been manipulating rates in very substantial ways for a hundred years or more.

David Zervos – Managing Director and Chief Market Strategist for Jefferies, with $3 billion under management – points out: Central bankers try to influence rates directly and indirectly EVERY day. That is their job. From the NYFED website this is description of the monetary policy objective – “the directive for implementation of U.S. monetary policy from the FOMC to the Federal Reserve Bank of New York states that the trading desk should “create conditions in reserve markets” that will encourage fed funds to trade at a particular level. Fed open market operations change the supply of reserve balances in the system, and by affecting the supply of balances, the Fed can create upward or downward pressure on the fed funds rate.”

CONTINUE: [link to globalresearch.ca]
RoXY (OP)

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07/11/2012 05:21 PM
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5 Best Countries for Offshore Banking
Wednesday, July 11, 2012
Activist Post

When we hear the term “offshore banking,” it often conjures up images of the overly-wealthy elite or sly, nefarious criminals hiding away millions of dollars from prying government eyes. But the way offshore banking is portrayed in the movies is not the reality.

Opening an account offshore is not illegal, as many people wrongly believe. In fact, many offshore financial institutions are considered safer than many domestic banks. Most foreign banks offer absolute privacy guarantees, as well as security to protect your assets.

Banks in the United States are limited in the amount of the interest they can pay to customers. Many offshore institutions are able to offer higher interest rates to their clients. In many US and European banks, the governments have too much control, to the detriment of the countries’ citizens. Because of this, the government can step in to freeze your bank accounts and assets indefinitely.

Some countries are a better choice for offshore banking than others. Here are the top five countries to consider if you want to put a portion of your money into a foreign account and what you need to open one.

CONTINUE: [link to www.activistpost.com]
RoXY (OP)

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07/11/2012 11:31 PM
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Re: THE ECONOMY & YOU # (Daily Updated Videos & Articles)
19 Warnings About A Coming Global Financial Catastrophe
Michael Snyder, Contributor
Wednesday, July 11, 2012
Activist Post

Global leaders have tried just about everything that they can think of, but the coming global financial catastrophe continues to march steadily toward us. We have seen "stimulus packages", quantitative easing, bond buying, interest rate cuts, emergency economic summits, bailout packages for banks, bailout packages for entire nations, "Operation Twist", unprecedented government intervention in business and massive amounts of new government debt and yet nothing seems to revive the global economy.

In fact, it looks like we are rapidly heading into the second dip of a "double dip recession".

Unfortunately, many believe that this next dip will be more like a full-blown depression. All over the world, top economic experts are warning that we are facing an unprecedented crisis of debt and insolvency that will result in a global financial catastrophe. The eurozone is drowning in debt, the U.S. government is drowning in debt and major banks all over the globe are drowning in debt. Global authorities have been trying to patch the system together and keep it going, but the incredible damage that all of this debt has done is now becoming apparent to everyone. The global debt bubble that has fueled prosperity in the western world for the last several decades is getting ready to burst, and when that happens the chaos that will result will be absolutely horrifying.

CONTINUE: [link to www.activistpost.com]
RoXY (OP)

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07/12/2012 01:41 PM
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Re: THE ECONOMY & YOU # (Daily Updated Videos & Articles)
Shining a light on the world’s biggest companies
10 July 2012

The world’s 105 biggest companies are worth more than US$11 trillion. They touch the lives of people across the globe.

But just how much do we know about their impact on daily lives? Too often, citizens experience little benefit from global economic activity while suffering the consequences of unethical corporate activity.

CONTINUE: [link to www.transparency.org]
RoXY (OP)

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07/13/2012 09:23 PM
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4 Signs of an Ongoing Global Economic Collapse
Michael Snyder, Contributor
Thursday, July 12, 2012
Activist Post

The cracks in the ice are getting bigger. At this point it is really hard to have much confidence in the global financial system at all.

They told us that MF Global was an isolated incident. Well, the horrific financial scandal over at PFGBest is essentially MF Global all over again. They told us that we would not see a huge wave of municipal bankruptcies in the United States. Well, three California cities have declared bankruptcy in less than a month. They told us that we could have faith in the integrity of the global financial system. Well, now we are finding out that global interest rates have been fixed by insiders for years.

They told us that Greece was an isolated problem and that none of the larger European nations would experience anything remotely similar. Well, what is happening in Spain right now looks like an instant replay of exactly what happened in Greece.

CONTINUE: [link to www.activistpost.com]
RoXY (OP)

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07/14/2012 03:21 PM
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The Real Libor Scandal
Paul Craig Roberts and Nomi Prins
Saturday, July 14, 2012
Activist Post

According to news reports, UK banks fixed the London interbank borrowing rate (Libor) with the complicity of the Bank of England (UK central bank) at a low rate in order to obtain a cheap borrowing cost. The way this scandal is playing out is that the banks benefitted from borrowing at these low rates. Whereas this is true, it also strikes us as simplistic and as a diversion from the deeper, darker scandal.

Banks are not the only beneficiaries of lower Libor rates. Debtors (and investors) whose floating or variable rate loans are pegged in some way to Libor also benefit. One could argue that by fixing the rate low, the banks were cheating themselves out of interest income, because the effect of the low Libor rate is to lower the interest rate on customer loans, such as variable rate mortgages that banks possess in their portfolios. But the banks did not fix the Libor rate with their customers in mind. Instead, the fixed Libor rate enabled them to improve their balance sheets, as well as help to perpetuate the regime of low interest rates. The last thing the banks want is a rise in interest rates that would drive down the values of their holdings and reveal large losses masked by rigged interest rates.

Indicative of greater deceit and a larger scandal than simply borrowing from one another at lower rates, banks gained far more from the rise in the prices, or higher evaluations of floating rate financial instruments (such as CDOs), that resulted from lower Libor rates.

CONTINUE: [link to www.activistpost.com]
RoXY (OP)

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07/15/2012 11:53 PM
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Facebook Banking on a Cashless Society
Brandon Turbeville
Sunday, July 15, 2012
Activist Post

As if the current methods of evaporating privacy and pushing a world toward the Cashless Society were not moving fast enough, Facebook is now developing and beta testing an app that would allow users to “pay their utility bills, balance their checkbooks, and transfer money at the same time they upload vacation photos to the site for friends to see.”

Essentially, the new application which is currently in beta phase with the Commonwealth Bank of Australia, allows for interactions regarding banking and financial services over alleged secure and private connections.

A similar, albeit attenuated program, is already in existence in India which was created by ICICI Bank in conjunction with Facebook that allows users, “through a secure SSL connection,” to “view account details and mini statements as well as apply for debit cards and request chequebooks.”

CONTINUE: [link to www.activistpost.com]
RoXY (OP)

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07/16/2012 07:11 PM
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Complete List Of Alternative Currencies From Around The World:
[link to www.complementarycurrency.org]

RoXY (OP)

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07/16/2012 10:19 PM
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The Karl Marx creditcard
July 15, 2012

A portret of Karl Marx - the 'father' of Marxism - on the creditcards of the German bank 'Sparkasse Chemnitz' turns out to be a big hit...

GO TO PICTURE: [link to www.welt.de]
Marxist

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07/17/2012 06:05 AM
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The Karl Marx creditcard
July 15, 2012

A portret of Karl Marx - the 'father' of Marxism - on the creditcards of the German bank 'Sparkasse Chemnitz' turns out to be a big hit...

GO TO PICTURE: [link to www.welt.de]
 Quoting: RoXY


Trivialising Marxism will not alter the inexorable shift towards the collectivisation of that which is commonly owned...our planet and its wealth.

These forces have always circumscribed human society from our first steps as sentient bipeds. Maoists and Walmart, Che and tshirts, Marx and credit cards...all cosmetic and irrelevant.

Marx simply detailed how they work. He did not invent them.
Workers of the World, Unite. You have nothing to lose but your chains!
RoXY (OP)

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07/17/2012 06:57 PM
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JPMorgan scandal: The tip of the iceberg
by Andre Damon and Barry Grey
July 17, 2012

JPMorgan Chase, the biggest US bank by assets, announced Friday that the trading loss from derivatives bets made by its Chief Investment Office (CIO) had reached $5.8 billion, nearly three times the amount the company had revealed in May. It added that the bad bets could result in an additional $1.7 billion in losses over the rest of the year.

In its second quarter filing with the Securities and Exchange Commission (SEC), the bank admitted that it had failed to report $459 million in losses from the trades in its first quarter report, released April 13. CEO Jamie Dimon and other top executives attempted to lay the blame on “certain individuals” who “may have been seeking to avoid showing the full amount of the losses being incurred in the portfolio during the first quarter” — an allusion to several traders in the London office of the bank’s CIO who have since been forced out of the firm.

Bloomberg News reported that this explanation seemed implausible to former JPMorgan executives it interviewed, who said the company had mechanisms in place to make sure traders could not simply hide their losses. In fact, JPMorgan’s report to the SEC on Friday indicates that the bank recorded a $718 million loss from the London trades on its internal accounts, but did not report the loss in its first quarter earnings statement.

In other words, JPMorgan deliberately falsified its first quarter report to the SEC in order to conceal its massive gambling losses. This is a crime — a violation of banking laws for which Dimon, as the CEO, is responsible. That Dimon was involved in a cover-up is underscored by the proof contained in Friday’s report to the SEC that he was already aware his bank had lost hundreds of millions if not billions when he told a conference call in April that reports of major losses by the bank’s CIO were “a tempest in a teapot.”

The trading loss debacle is only one of many scandals engulfing JPMorgan Chase.

CONTINUE: [link to globalresearch.ca]
RoXY (OP)

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07/17/2012 07:04 PM
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Catastroika: Privatisation Goes Public
[link to www.dailymotion.com]

Subtitled in English, French, German, Portuguese, Croatian, Italian Bulgarian and Spanish. Click on "CC" icon to select subtitles options.

The creators of Debtocracy, a documentary viewed by millions of people around the world, present their new production, entitled CATASTROIKA, on the website www.catastroika.com.

The documentary uncovers the forthcoming results of the current sell-off of the Greek public assets, demanded in order to face the country's enormous sovereign debt. Turning to the examples of London, Paris, Berlin, Moscow and Rome, CATASTROIKA predicts what will happen, if the model imposed in these areas is imported in a country under international financial tutelage.

SOURCE: [link to tv.globalresearch.ca]

RoXY (OP)

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07/17/2012 09:17 PM
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War On All Fronts
Paul Craig Roberts
July 16, 2012

The Russian government has finally caught on that its political opposition is being financed by the US taxpayer-funded National Endowment for Democracy and other CIA/State Department fronts in an attempt to subvert the Russian government and install an American puppet state in the geographically largest country on earth, the one country with a nuclear arsenal sufficient to deter Washington’s aggression.

Just as earlier this year Egypt expelled hundreds of people associated with foreign-funded “non-governmental organizations” (NGOs) for “instilling dissent and meddling in domestic policies,” the Russian Duma (parliament) has just passed a law that Putin is expected to sign that requires political organizations that receive foreign funding to register as foreign agents. The law is based on the US law requiring the registration of foreign agents.

Much of the Russian political opposition consists of foreign-paid agents, and once the law passes leading elements of the Russian political opposition will have to sign in with the Russian Ministry of Justice as foreign agents of Washington. The Itar-Tass News Agency reported on July 3 that there are about 1,000 organizations in Russia that are funded from abroad and engaged in political activity. Try to imagine the outcry if the Russians were funding 1,000 organizations in the US engaged in an effort to turn America into a Russian puppet state. (In the US the Russians would find a lot of competition from Israel.)

CONTINUE: [link to www.paulcraigroberts.org]

RoXY (OP)

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07/18/2012 07:47 AM
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US Drought Could Have Significant Impact in Developing Countries
The recent heat wave and drought in the United States have sharply reduced expected yields for some food crops this year, resulting in surging prices for food commodities such as corn and soybeans. Analysts say consumers are likely to see higher prices at the supermarket. But as Mil Arcega reports, smaller yields and higher prices could have lasting implications in other parts of the world, especially in developing countries.


RoXY (OP)

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07/18/2012 12:15 PM
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An Example of Banking Philosophy
by Louis Even
July 18, 2012

To seize the belongings of all nations and individuals - This is the real reason for poverty in the world
In reading the following article of Louis Even, first published in 1941, one will quickly realize that the plan of the Financiers to seize the people’s wealth and the farmers’ land has been going on for a long time. But today, one can clearly see that this plan has been fully realized. The people owe all of their country’s wealth to the Bankers through national debts, and a majority of the farmers of developed countries have disappeared; those remaining must work night and day to pay interests to the Bankers. Let us all read again this important document that enlightens us all on the real reasons for poverty in the world.

Here is the full text of an article published in the United States Bankers’ Magazine in 1892. It was recently re-published in the New Era and in the Social Crediter, where we took it:

CONTINUE: [link to alternatenewsmedia2012.wordpress.com]
Marxist

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07/18/2012 07:01 PM
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An Example of Banking Philosophy
by Louis Even
July 18, 2012

To seize the belongings of all nations and individuals - This is the real reason for poverty in the world
In reading the following article of Louis Even, first published in 1941, one will quickly realize that the plan of the Financiers to seize the people’s wealth and the farmers’ land has been going on for a long time. But today, one can clearly see that this plan has been fully realized. The people owe all of their country’s wealth to the Bankers through national debts, and a majority of the farmers of developed countries have disappeared; those remaining must work night and day to pay interests to the Bankers. Let us all read again this important document that enlightens us all on the real reasons for poverty in the world.

Here is the full text of an article published in the United States Bankers’ Magazine in 1892. It was recently re-published in the New Era and in the Social Crediter, where we took it:

CONTINUE: [link to alternatenewsmedia2012.wordpress.com]
 Quoting: RoXY


I don't think that there is a premeditated attempt to pauperise the working classes, so much as capital's natural tendency is to consolidate value in the hands of fewer and fewer. This is played out in the markets which are at the heart of capital's momentum and are a zero sum game. Someone has to lose for someone else to gain. As the momentum of capital gains pace with globalisation, so the competition in pursuit of consolidation becomes more frenetic and elaborate, the survival quotient more complex.

The system has objective compulsions that in effect corral the players into particular modes of behaviour. In a nutshell, "they do not know what they do" but act as they must to prevail.
Workers of the World, Unite. You have nothing to lose but your chains!
RoXY (OP)

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07/19/2012 12:29 AM
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I don't think that there is a premeditated attempt to pauperise the working classes,
 Quoting: Marxist


It's not so much the working classes they want to pauperise, it's the middle class they want to get rid off.

And they are succeeding in it.
RoXY (OP)

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07/19/2012 06:12 AM
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The Federal Centralization Economy

James Hall, Contributor
Wednesday, July 18, 2012
Activist Post

A new hybrid of the command economy is being adapted to replace the last traces of a free market economy. The federal government, through the increase of administrative regulations and bureaucratic oversight is forcing a dangerous planned economy with dire consequences. It will not resemble the Soviet style of government ownership, because many business decisions will no longer rest with owners, but will need conformity to rules that benefit favored enterprises.

Investopedia explains the old version of the ‘Command Economy’ as a planned economy.

- Command economies are unable to efficiently allocate goods because of the knowledge problem - the central planner's inability to discern how much of a good should be produced.

- Shortages and surpluses are a common consequence of command economies. A free-market price system, on the other hand, signals to producers what they should be creating and in what quantities, resulting in a much more efficient allocation of goods.

CONTINUE: [link to www.activistpost.com]
Anonymous Coward
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07/19/2012 06:19 AM
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hammer, nail, coffin, ...bang!

"Grain Prices Could Be The Nail in the Economic Coffin"

[link to pointsandfigures.com]
RoXY (OP)

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07/19/2012 03:58 PM
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Are Big Banks Criminal Enterprises?
by Washington's Blog
July 19, 2012

Here are some recent improprieties by the big banks:

CONTINUE: [link to globalresearch.ca]

RoXY (OP)

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07/19/2012 04:36 PM
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The Libor Scandal In Full Perspective
Paul Craig Roberts, Contributor
Thursday, July 19, 2012
Activist Post

The article about the Libor scandal, coauthored with Nomi Prins, received much attention, with Internet repostings, foreign translation, and video interviews. To further clarify the situation, this article brings to the forefront implications that might not be obvious to those without insider experience and knowledge.

The price of Treasury bonds is supported by the Federal Reserve’s large purchases. The Federal Reserve’s purchases are often misread as demand arising from a “flight to quality” due to concern about the EU sovereign debt problem and possible failure of the euro.

Another rationale used to explain the demand for Treasuries despite their negative yield is the “flight to safety.” A 2% yield on a Treasury bond is less of a negative interest rate than the yield of a few basis points on a bank CD, and the US government, unlike banks, can use its central bank to print the money to pay off its debts.

It is possible that some investors purchase Treasuries for these reasons. However, the “safety” and “flight to quality” explanations could not exist if interest rates were rising or were expected to rise. The Federal Reserve prevents the rise in interest rates and decline in bond prices, which normally result from continually issuing new debt in enormous quantities at negative interest rates, by announcing that it has a low interest rate policy and will purchase bonds to keep bond prices high.

Without this Fed policy, there could be no flight to safety or quality.

CONTINUE: [link to www.activistpost.com]
RoXY (OP)

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07/19/2012 08:58 PM
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Re: THE ECONOMY & YOU # (Daily Updated Videos & Articles)
1#Meltdown - The Secret History of the Global Financial Collapse 2010 (1/4)



2/4
[link to www.youtube.com]

3/4
[link to www.youtube.com]

4/4
[link to www.youtube.com]

Marxist

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07/20/2012 03:26 AM
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I don't think that there is a premeditated attempt to pauperise the working classes,
 Quoting: Marxist


It's not so much the working classes they want to pauperise, it's the middle class they want to get rid off.

And they are succeeding in it.
 Quoting: RoXY


There is no middle class Roxy. It's a fallacy in a falsely hierarchical system and divides. There is only those who own the means of production and those who sell their labour, physical or otherwise. This is evident during times of crises when the latter group falls through the net.
Workers of the World, Unite. You have nothing to lose but your chains!


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