By Joseph Stiglitz LEONA HELMSLEY, the hotel chain executive who was convicted of federal tax evasion in 1989, was notorious for, among other things, reportedly having said that “only the little people pay taxes.” As a statement of principle, the quotation may well have earned Mrs. Helmsley, who died in 2007, the title Queen of Mean. But as a prediction […]
By Simon Wood (The 99.99998271%) “It is inevitable that Bitcoin will become a multi-trillion dollar enterprise because every other currency in the world is tied to dying central banks that are encumbered with impossible-to-pay debts and bankrupt counter-party risks” – Max Keiser It has been a rollercoaster of a week for Bitcoin, an open-source, peer-to-peer, digital currency that can be […]
Food loaded into Dumpsters while Hundreds of Hungry Americans Restrained by Police by Sarah Carlson Hundreds of poor people waiting outside of a closed grocery store for the possibility of getting the remaining food is not the picture of the “American Dream.” Yet on March 23, outside the Laney Walker Supermarket in Augusta, Ga., that is exactly what happened. Residents […]
The Super-priority Status of Derivatives by Ellen Brown Cyprus-style confiscation of depositor funds has been called the “new normal.” Bail-in policies are appearing in multiple countries directing failing TBTF banks to convert the funds of “unsecured creditors” into capital; and those creditors, it turns out, include ordinary depositors. Even “secured” creditors, including state and local governments, may be at risk. Derivatives have […]
My evidence only magically came to light after I complained to commission chairman by Rowan Bosworth-Davies I once sat next to a board director of a major high street bank at a private dinner. Earlier in the day he had listened while I spoke about the laws on money laundering, and I had pointed out the penalties for non-compliance. He […]
My evidence only magically came to light after I complained to commission chairman by Rowan Bosworth-Davies I once sat next to a board director of a major high street bank at a private dinner. Earlier in the day he had listened while I spoke about the laws on money laundering, and I had pointed out the penalties for non-compliance. He […]
For years now, the collapse of the dollar has been in the cards. Recent developments show mounting pressure on the dollar’s reserve currency status by Anthony Migchels With a major international deflation going on, the threat of inflation through money printing is unreal. However, should the dollar’s reserve currency status end, the repatriation of trillions of petro- and eurodollars could […]
By Zerohedge As reported late on Friday, just as the market closed, the Portuguese constitutional court decided that several provisions of the country’s 2013 budget were not constitutional. According to the high court, cuts in wages and pensions of public employees were unfair (there’s that word again) because they targeted only the public sector. The court rejected plans to cut […]
Laws that make it illegal for you to print your own £5 or £10 notes have been in place since 1844. But those laws haven’t been updated to account for the fact that almost all money now is electronic. Because of this loophole, banks worldwide now have the power to create money, effectively out of nothing by Positive Money A […]
The truth behind the Federal Reserve What’s the problem with the world economy? It’s debt — too much personal debt — too much corporate debt — and most importantly, too much government debt by Bill Still – http://www.jekyllisland-themovie.com/ “People have a natural tendency to want to spend now and pay later. They will usually take any type of loans offered. It’s […]
Create Resolution Authority for Unlimited Cyprus-Style “Bail-Ins” for TBTF Banks by SilverDoctors *BREAKING SD ALERT* Editor note: Bringing this massive story back to the top of the news feed for those who missed it over the holiday weekend. On Wednesday, SD broke the news that Canada had buried a provision for depositor bail-ins for systemically important banks deep inside its […]
What Better Time Than Now by Stephen Lendman Money power in private hands games the system. It does so destructively. Controlling money, credit and debt for private enrichment assures speculation, booms, busts, inflation, deflation, instability, crisis, recessions and depressions. The Cypriot crisis alone begs the question. Money power in public hands could have avoided what’s now happening. Ordinary Cypriots face […]
