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

 
Marxist

User ID: 18905105
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07/29/2012 07:29 PM
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Re: THE ECONOMY & YOU # (Daily Updated Videos & Articles)
Let me clarify my above post. Capitalism, I believe, will collapse as in an end to the certainties of infinite growth (or the loss of illusions). However, I do not believe that this will be the sort of collapse that will herald in systemic dialecticism.

It is probably reasonable to assume that the financialisation of the system will continue afoot despite all the hand wringing at experiences this far. With deflationary tendencies threatening to overwhelm the primary sector of manufacturers worlwide (excess capacity), the only venue for profit is the financial sector.
Workers of the World, Unite. You have nothing to lose but your chains!
RoXY (OP)

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08/01/2012 12:36 AM
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Re: THE ECONOMY & YOU # (Daily Updated Videos & Articles)
11 Signs That Time Is Quickly Running Out For The Global Financial System
Michael Snyder, Contributor
Tuesday, July 31, 2012
Activist Post

Are we rapidly approaching a moment of reckoning for the global financial system? August is likely to be a relatively slow month, as most of Europe is on vacation, but after that we will be moving into a "danger zone" where just about anything could happen. Historically, a financial crisis has been more likely to happen in the fall than during any other time, and this fall is shaping up to be a doozy.

Much of the focus of the financial world is on whether or not the euro is going to break up, but even if the authorities in Europe are able to keep the euro together we are still facing massive problems.

Countries such as Greece and Spain are already experiencing depression-like conditions, and much of the rest of the globe is sliding into recession. Unemployment has already risen to record levels in some parts of Europe, major banks all over Europe are teetering on the brink of insolvency, and the flow of credit is freezing up all over the planet. If things take a really bad turn, this crisis could become much worse than the financial crisis of 2008 very quickly.

All over the world people are starting to write about the possibility of a major economic crisis starting this fall.

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

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08/01/2012 01:09 PM
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UK in double-dip recession
by Robert Stevens
July 29, 2012

Britain is mired in its second official recession since the global financial meltdown of the autumn of 2008.

In May, the British economy entered a “double-dip” recession for the first since the 1970s.

Figures released by the UK Office for National Statistics (ONS) show the economy shrank by a larger-than-expected 0.7 percent in the second quarter of the year. This was the third successive quarter of negative economic growth and was far higher than the forecast drop of 0.2 percent. It follows a decline of 0.3 percent recorded in the first three months of 2012.

The ONS figures are a first estimate and will be revised but still confirm that the UK is in the longest double-dip recession since quarterly records began in 1955. It is also the longest period of recession since the Second World War.

The Conservative-Liberal Democrat coalition immediately sought to play down the figures, which are a devastating indictment of its economic policies. Such has been the systematic wrecking of the UK economy that economic output is now 4.5 percent smaller than when the coalition government took office just two years ago.

Speaking in London at the Global Investment Conference, organised to coincide with Olympics Games, Prime Minister David Cameron said he was “disappointed” with the figures, but added, “We’ve taken bold decisions to sort out our public finances and earn credibility with the markets”.

Referring to the government’s seven-year, £123 billion austerity programme, he said, “We will continue to take the tough decisions that are necessary for business leaders and investors to have confidence in the long-term future of the British economy”.

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

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08/01/2012 01:21 PM
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Re: THE ECONOMY & YOU # (Daily Updated Videos & Articles)
Exclusive Smoking Gun: The Fed On Gold Manipulation
by Tyler Durden
07/30/2012

Zero Hedge has recently presented several declassified documents from the pre-1971 "Nixon Shock" days, that endorse the case for gold as a major historical factor in US monetary and foreign policy, as demonstrated by State Department and CIA disclosure. Gold's special status in policy and administrative decision-making was a direct factor in Nixon's choice to abolish the gold reserve at a time of an exploding budget deficit.

Yet what about the days after 1971, and specifically, how did that critical "behind the scenes" organization, the Federal Reserve, perceive and manipulate gold in the post Bretton-Woods world? Was gold, freed from its shackles to the dollar, once again merely a symbolic representation for money?

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

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08/01/2012 03:18 PM
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Reality Check: Do We Really Need To Audit The Federal Reserve?
Maybe the most truthful 4-minute newscast about The Fed ever...


RoXY (OP)

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08/03/2012 01:48 AM
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Re: THE ECONOMY & YOU # (Daily Updated Videos & Articles)
What the Heck is a Bailout?
In 9 minutes, Paul Grignon, the creator of the internationally acclaimed "Money as Debt" animated series, sums up his analysis of our growth-dependent money-as-debt banking system and proposes a practical and time-honoured alternative concept of money.


gebahie

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08/03/2012 05:35 PM

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Last Edited by gebahie on 08/04/2012 02:10 AM
RoXY (OP)

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08/07/2012 04:35 PM
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Re: THE ECONOMY & YOU # (Daily Updated Videos & Articles)
This Economy's Winners and Losers
"There is a war going on in this country, and I am not referring to the wars in Iraq or Afghanistan. I am talking about a war being waged by some of the wealthiest and most powerful people in this country against the working families of the United States of America, against the disappearing and shrinking middle class of our country..."


RoXY (OP)

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08/07/2012 04:38 PM
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'Scrap banks or they'll bring chaos' - Nobel Economist
Nobel Economics Laureate Edward Prescott explains what he thinks has gone so wrong in the region, and what needs to be done to put it right.


Marxist

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08/07/2012 07:19 PM
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'Scrap banks or they'll bring chaos' - Nobel Economist
Nobel Economics Laureate Edward Prescott explains what he thinks has gone so wrong in the region, and what needs to be done to put it right.


 Quoting: RoXY


Scrap banks and you merely create a vacuum within capitalism (there can be no regression to mercantilism....that would defy the logic of systemic dialecticism) for a new generation of banks.
Workers of the World, Unite. You have nothing to lose but your chains!
RoXY (OP)

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08/07/2012 08:41 PM
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Re: THE ECONOMY & YOU # (Daily Updated Videos & Articles)
The Dark Heart Of The Libor Scandal - Why the Regulators Failed to Regulate
by Mark Vorpahl
August 7, 2012

Though, for most, the London Inter-Bank Offer Rate (Libor) interest rate fixing scandal appears to be distant and far too complex to understand, its potential consequences may be as economically devastating as a world war.

The Libor is used to set payments on $800 trillion worth of financial instruments. It sets the prices that people and corporations pay for loans and receive for savings. Given that the fraud impacted $10 trillion in consumer loans, the Libor scandal will likely leave a long list of previous financial scandals that contributed to the Great Recession look like child’s play.

It also pulls back the curtain on the mechanisms behind the world economy, its anti-social priorities, its willingness to gamble away the future of millions of people, and the government’s collusion in these operations. The Libor scandal reveals that the "invisible hand" Adam Smith spoke of in explaining how a capitalist economy regulates itself has been transformed into the trained hand of a swindler.

The Libor and Its Problems
The Libor sets interest rates that banks charge one another to borrow on a daily basis. Sixteen (now eighteen) large banks submit their assessment of what they anticipate credit would cost them. The four lowest and four highest calculations are thrown out, and the interest rate is determined as the middle figure among the remaining assessments.

CONTINUE: [link to globalresearch.ca]
Horus
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08/07/2012 09:45 PM
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the economy is obsolete & you deserve abundance!

it's all about sharing the planet

in
peace
Marxist

User ID: 2670429
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08/07/2012 10:39 PM
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Re: THE ECONOMY & YOU # (Daily Updated Videos & Articles)
The Dark Heart Of The Libor Scandal - Why the Regulators Failed to Regulate
by Mark Vorpahl
August 7, 2012

Though, for most, the London Inter-Bank Offer Rate (Libor) interest rate fixing scandal appears to be distant and far too complex to understand, its potential consequences may be as economically devastating as a world war.

The Libor is used to set payments on $800 trillion worth of financial instruments. It sets the prices that people and corporations pay for loans and receive for savings. Given that the fraud impacted $10 trillion in consumer loans, the Libor scandal will likely leave a long list of previous financial scandals that contributed to the Great Recession look like child’s play.

It also pulls back the curtain on the mechanisms behind the world economy, its anti-social priorities, its willingness to gamble away the future of millions of people, and the government’s collusion in these operations. The Libor scandal reveals that the "invisible hand" Adam Smith spoke of in explaining how a capitalist economy regulates itself has been transformed into the trained hand of a swindler.

The Libor and Its Problems
The Libor sets interest rates that banks charge one another to borrow on a daily basis. Sixteen (now eighteen) large banks submit their assessment of what they anticipate credit would cost them. The four lowest and four highest calculations are thrown out, and the interest rate is determined as the middle figure among the remaining assessments.

CONTINUE: [link to globalresearch.ca]
 Quoting: RoXY


Excellent article, Roxy.
Workers of the World, Unite. You have nothing to lose but your chains!
RoXY (OP)

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08/08/2012 01:55 AM
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Has The Perfect Moment To Kill The Dollar Arrived?
Brandon Smith, Contributor
Tuesday, August 7, 2012
Activist Post

The idea of “collapse”, social and financial, comes with an incredible array of hypothetical consequences ranging from public dissent and martial law, to the complete disintegration of infrastructure and the devolution of mankind into a swarm of mindless arm chewing cannibals. In an age of television nirvana and cinema overload, I have found that the collective unconscious of our culture has now defined what collapse is based only on the most narrow of extremes. If they aren’t being hunted down by machete wielding looters or swastika wearing jackboots, then the average American dupe figures that the country is not in much danger. Hollywood fantasy has blinded us to the tangible crises at our doorstep.

The reality is that collapse is not a singular event, but a process. It is a symphony of doom, composed of a series of exponentially more powerful crescendos. If the past four years since the implosion of the derivatives bubble have proven anything, it is that catastrophe has the ability to drown a nation slowly like a river of molasses, rather than sweep it away like a flash flood. That said, almost every recorded collapse of modern societies in the past century has been preceded by a primary trigger event; a moment in which the mathematical certainty of failure becomes clear, even if the psychological certainty is muddled.

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

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08/08/2012 03:04 AM
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Expert Explains In Horrifying Detail How The Next Shock Will Shatter The Global Economy
by Matthew Boesler
Aug. 7, 2012

The eurozone is on a path into a deep recession. As one of the largest and most advanced economies in the world, its centrality to a system of highly-interconnected global supply chains is taken for granted.

David Korowicz, a physicist and human-systems ecologist, recently authored a lengthy 78-page white paper titled: "Trade-Off: Financial System Supply-Chain Cross-Contagion: a study in global systemic collapse."

It explores the increasing systemic risk brewing in the global financial and trade systems. Using complex systems analysis, he explains how within weeks of the next major economic shock, like a major bank failure or a country exiting the eurozone, contagion would quickly spread through global supply chains, causing an "irreversible global economic collapse."

Read more: [link to www.businessinsider.com]


NB: Interesting article, to say the least...
RoXY (OP)

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08/09/2012 12:33 AM
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14 Questions People Ask About How To Prepare For The Collapse Of The Economy
Michael Snyder, Contributor
Wednesday, August 8, 2012
Activist Post

How in the world is someone supposed to actually prepare for an economic collapse? What should you do with your money? How can you make sure that your family is going to be okay? How can you prepare if your resources are extremely limited? These are the kinds of questions people ask me all the time.

Once people understand that the economy has been collapsing and will continue to collapse, then the next step for most of them is that they want to get prepared for the storm that is coming. So where should someone get started?

Well, the truth is that no two people are facing the exact same set of circumstances, so preparation is going to look different for each individual. But there are certain core principles that we can all benefit from. For example, when a financial storm is coming, that is not the time to be blowing thousands of dollars on vacations and new toys. You would be surprised at how many people there are that claim that they have no extra money in their budgets and yet somehow have plenty of money to run down to Wal-Mart and buy a big stack of DVDs. When times are difficult, each hard-earned dollar becomes much more precious, and we all need to start getting into the habit of making the most out of our limited resources. The seemingly endless prosperity that we have all been enjoying for decades is coming to an end, and most of us have absolutely no experience on how to deal with truly hard times. If you are under the age of 60, it might be a really good idea to read a book or two on what conditions were like during the Great Depression of the 1930s. There is a lot that we can learn from our own history.

CONTINUE: [link to www.activistpost.com]

RoXY (OP)

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08/13/2012 01:42 AM
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Confronting Wall Street: Establishing a Democratic Public Postal Banking System in America - Letter Carriers Consider Bringing Back Banking Services
by Ellen Brown
August 12, 2012

On July 27, 2012, the National Association of Letter Carriers adopted a resolution at their National Convention in Minneapolis to investigate establishing a postal banking system. The resolution noted that expanding postal services and developing new sources of revenue are important to the effort to save the public Post Office and preserve living-wage jobs; that many countries have a successful history of postal banking, including Germany, France, Italy, Japan, and the United States itself; and that postal banks could serve the 9 million people who don’t have bank accounts and the 21 million who use usurious check cashers, giving low-income people access to a safe banking system. “A USPS bank would offer a ‘public option’ for banking,” concluded the resolution, “providing basic checking and savings – and no complex financial wheeling and dealing.”

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

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08/13/2012 08:38 AM
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Spiking Grain Prices Raise Specter Of Global Food Crisis
by Naomi Spencer
August 10, 2012

Global food prices rose 6.2 percent in July, the United Nations’ Food and Agriculture Organization reported Thursday. The FAO said it released its Food Price Index ahead of its regular publication schedule as a warning against the impact of such price rises.

The index, which calculates the cost of a basket of food commodities, overall averaged 213 points in July, up 12 points from June. In February 2011, the height of the Arab Spring, the overall index peaked at 238. The index has remained above the average 2008 level for more than a year and is now trending toward an all-time high.

Grain prices have driven the overall rise. The US corn crop is in a state of disaster, with more than half of all US acreage listed in poor or very poor condition due to a record-breaking drought. Under a parallel drought, Russia downgraded its wheat crop by several million tons on Wednesday.

The FAO cereal index averaged 260 points in July, up 17 percent over the month. Most of the increase is attributable to a 23 percent rise in corn prices over the month and a similar, 19 percent surge in wheat prices. The cereal index is only 14 points below the all-time high of 274 points in April 2008.

The FAO registered a 12 percent rise in sugar prices in July, triggered by unseasonably wet weather in Brazil, the world’s largest exporter of cane sugar. Oils rose 2 percent, primarily on tighter supply outlooks and record prices for soybeans.

Price indexes for meats and dairy remained relatively unchanged for the month, although the protracted drought in the US rangeland has distressed many ranchers, who will be compelled to liquidate their herds. The US Department of Agriculture projects US consumer price inflation for meat, poultry, and dairy in the next few months as a result. Internationally, the higher cost of animal feed will ripple through livestock producers. This process may sharply affect Asia, where demand for meat is growing, but nations have smaller domestic stockpiles.

International food organization Oxfam warned in response to the FAO report that “millions of the world’s poorest will face devastation” from the increases. “This is not some gentle monthly wake-up call—it’s the same global alarm that’s been screaming at us since 2008,” Oxfam spokesman Colin Roche stated. “These figures prove that the world’s food system cannot cope on crumbling foundations. The combination of rising prices and expected low reserves means the world is facing a double danger.”

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

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08/14/2012 08:08 AM
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Food Prices to Skyrocket in Coming Food Crisis
Monday, August 13, 2012
Activist Post

You don't have to be survivalist or a doomsdayer to recognize the practicality in having some food stored away for a rainy day. In fact, it's simply becoming common sense to have a certain amount of bulk food storage in your house.

But these days, with record droughts ravaging the bread basket of America coupled with runaway money printing by the Fed, food inflation is creating a dangerous scenario but also a fantastic investment opportunity for average folks.

During times of economic uncertainty it can be especially difficult to determine a safe place to protect your savings. Countless financial advisers offer advice on asset protection and other ways to keep your nest egg performing slightly above inflation. However, many of these strategies involve paper investments that come with risks.

People in the know suggest tangible assets like precious metals. But if you're like the overwhelming majority of Americans living week-to-week, acquiring gold and silver can seem daunting. Although it's definitely worth accumulating some precious metals when you have expendable income, food may prove to be a much better investment.

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

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08/16/2012 11:15 AM
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The Economic Collapse and the Neoliberal Onslaught
For decades, the IMF and the World Bank have used the cover of development and restructuring to plunder and loot the developing world. Now, as these institutions begin to set their sights on the struggling economies of Europe and other developed countries, economics professor and Global Research editor Michel Chossudovsky breaks down the true history of the economic crisis and the international financial structure.
SOURCE: [link to tv.globalresearch.ca]


RoXY (OP)

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08/16/2012 11:19 AM
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Class action against ANZ begins
38,000 ANZ customers are fighting to regain bank fees, in one of the largest class action law suits in Australian history.

Read Article: 'High Court to hear ANZ class action'
[link to yhoo.it]


RoXY (OP)

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08/16/2012 11:51 AM
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Goldman Sachs Above the Law
James Hall, Contributor
Wednesday, August 15, 2012
Activist Post

No doubt, the chief crook on Wall Street is virtually immune from any law that brings lesser mortals to their knees. The latest outrage summed up nicely in "Relieve Goldman Sachs of Their Legal Exposure", passes with little notice in the establishment media.

Goldman Sachs got a rare 'reverse Wells notice' from the SEC, when they were told that a mortgage-backed securities deal which they earlier heard they would face prosecution for would not net them any civil enforcement. But that was just the beginning. Later in the day, they learned they would not face any prosecution from the Justice Department for the misdealings brought to light in a Senate Permanent Subcommittee on Investigations report a year ago.

In case you have not heard the details, the Eric Holder DoJ of criminal protection and selective prosecution, hit a new low.

In a written statement, the department said it conducted an exhaustive investigation of allegations brought to light by a Senate panel investigating the 2008-2009 financial crisis.

'The department and investigative agencies ultimately concluded that the burden of proof to bring a criminal case could not be met based on the law and facts as they exist at this time,' the department said.

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

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08/16/2012 07:25 PM
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Spiral of banks warns of financial meltdown
02 August 2012 by Andy Coghlan

Call it the financial meltdown forecaster. The team of economists who last year demonstrated that a small number of companies wield disproportional power over the global economy has now produced a simple visual tool that can monitor financial stability in real-time.

Like a weather forecast, DebtRank could monitor global financial activity for telltale signs of impending disaster. Its designers say it could anticipate and so help prevent global economic crises like the events of 2008, from which the world is still reeling.

Importantly, it's not just size that matters when it comes to how much risk a troubled bank poses to the financial system. Even a relatively small loss at a firm intimately connected to many other banks could cause a ripple effect that threatens the whole system.

CONTINUE: [link to www.newscientist.com]
Marxist

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08/16/2012 10:31 PM
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Spiral of banks warns of financial meltdown
02 August 2012 by Andy Coghlan

Call it the financial meltdown forecaster. The team of economists who last year demonstrated that a small number of companies wield disproportional power over the global economy has now produced a simple visual tool that can monitor financial stability in real-time.

Like a weather forecast, DebtRank could monitor global financial activity for telltale signs of impending disaster. Its designers say it could anticipate and so help prevent global economic crises like the events of 2008, from which the world is still reeling.

Importantly, it's not just size that matters when it comes to how much risk a troubled bank poses to the financial system. Even a relatively small loss at a firm intimately connected to many other banks could cause a ripple effect that threatens the whole system.

CONTINUE: [link to www.newscientist.com]
 Quoting: RoXY


Article succinctly illustrates the globalised nature of capital whilst the debate remains stoically nation based.
Workers of the World, Unite. You have nothing to lose but your chains!
RoXY (OP)

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08/17/2012 04:36 PM
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Startling Evidence That Central Banks And Wall Street Insiders Are Rapidly Preparing For Something BIG
Michael Snyder, Contributor
Friday, August 17, 2012
Activist Post

If you want to figure out what is going to happen next in the financial markets, carefully watch what the insiders are doing. Those that are "connected" have access to far better sources of information than the rest of us have, and if they hear that something big is coming up they will often make very significant moves with their money in anticipation of what is about to happen.

Right now, Wall Street insiders and central banks all around the globe are making some very unusual moves.

CONTINUE: [link to www.activistpost.com]
Marxist

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08/18/2012 06:47 AM
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Startling Evidence That Central Banks And Wall Street Insiders Are Rapidly Preparing For Something BIG
Michael Snyder, Contributor
Friday, August 17, 2012
Activist Post

If you want to figure out what is going to happen next in the financial markets, carefully watch what the insiders are doing. Those that are "connected" have access to far better sources of information than the rest of us have, and if they hear that something big is coming up they will often make very significant moves with their money in anticipation of what is about to happen.

Right now, Wall Street insiders and central banks all around the globe are making some very unusual moves.

CONTINUE: [link to www.activistpost.com]
 Quoting: RoXY


Personally, I don't think these bums have a clue. All they know is that the system is in such deep debt as to need a major infusion from somewhere, anywhere. Which is why they are watching the Chinese like hawks....much of the last few decades vast profits have been remitted from that disgraceful sham of a "communist" country and I suspect that there is an expectation that the can kicking will, by some unfathomable process and the China connection, save the day, someday.
Workers of the World, Unite. You have nothing to lose but your chains!
RoXY (OP)

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08/19/2012 02:53 PM
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Re: THE ECONOMY & YOU # (Daily Updated Videos & Articles)
It's the stupid economy - Welcome to Noddyland


RoXY (OP)

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08/19/2012 07:39 PM
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The Euro Is Not in Trouble. People Are.
by Prof. Vicente Navarro
August 17, 2012

One of the phrases frequently written in economic circles in the United States (and to a lesser degree in Europe) is “the Euro is going to collapse.” Those who repeat that phrase over and over again do not seem to know how the Euro was established, by whom, and for whose benefit. If they knew the history of the Euro, they would have noticed that the major forces behind the Euro have done very well and continue to do so.

As long as they continue to benefit from the Euro’s existence, the Euro will continue to exist.
Let’s start with the Euro’s history and the major reason it was established. After the collapse of the Berlin Wall, it looked like East and West Germany could reunite and as the Western German establishment wanted become, once again, a united Germany. That possibility did not please democratic Europe. Twice in the 20th century, the majority of European countries had to go to war to stop the expansionist aims of a united Germany. The European governments were not pleased to see post-Nazi Germany reunited. President François Mitterrand of France even said ironically that, “I love Germany so much that I prefer to see two Germanys rather than one.”

The only alternative these governments saw was to make sure the united Germany would not become an isolated country in front of everyone else. Germany had to become integrated into Europe. It had to become Europeanized. Mitterrand thought one way of doing this was to have the German currency, the mark, be replaced by a new European currency, the Euro. This was thought to be a way of anchoring post-Nazi Germany to democratic Europe.

CONTINUE: [link to globalresearch.ca]

Last Edited by RoXY on 08/19/2012 08:00 PM
RoXY (OP)

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08/19/2012 07:58 PM
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Re: THE ECONOMY & YOU # (Daily Updated Videos & Articles)
On the Road to Ryan and Ruin
by Lawrence Davidson
Posted on 19. Aug, 2012

Part I – The Good Old Bad Days
In the 132 years between 1797 and 1929, there was no effective regulation of U.S. economy. No federal agencies existed to control corruption, fraud and exploitation on the part of the business class. Even during the Civil War, economic management on a national level was minimal and war profiteering common. As a result the country experienced 33 major economic downturns which impacted roughly 60 of the years in question. These included 22 recessions, 4 depressions, and 7 economic “panics” (bank runs and failures).

Then came the Great Depression starting with the crash of the New York stock market in 1929. This soon became a worldwide affair which lasted until the onset of World War II. Millions were thrown out of work, agricultural production partially collapsed, and the fear of rebellion and revolution was palpable both in the U.S. and Europe.

CONTINUE: [link to www.opinion-maker.org]

RoXY (OP)

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08/21/2012 04:58 PM
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Re: THE ECONOMY & YOU # (Daily Updated Videos & Articles)
Journalism for sale - NPR serves the banks?




Journalism for sale - NPR serves the banks?



Last Edited by RoXY on 08/21/2012 05:00 PM

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