This time Max Keiser and co-host, Stacy Herbert, look at post anti-Americanism and crouching assets, hidden wealth in China. In the second half of the show, Max talks to Jon Thorisson in Iceland about his campaign against Magma Energy and about the resistance of the Icelandic people to IMF measures. Read the rest of this entry »
(NPR) – As part of the bailouts of AIG and Bear Stearns, the Federal Reserve Bank of New York spent more than $70 billion to buy toxic assets the companies owned. Last week, prompted by a lawsuit filed by Bloomberg News, the Fed finally told the world exactly what it bought.
The Fed now owns loans to Hilton hotels in Hawaii, Puerto Rico, Malaysia and Trinidad. It owns loans to the Miami airport, and the Civic Opera House in Chicago.
It also owned a loan to Crossroads Mall in Oklahoma City. Then, when the owners of the mall couldn’t make the payments, the Fed foreclosed. So now it owns the mall, which includes a Chick-fil-A and an AMC theater. Read the rest of this entry »
(Reuters) – A bomb exploded on Tuesday outside the Athens offices of JP Morgan, the second largest U.S. bank by assets, causing minor damage and no injuries, police and the company said. Read the rest of this entry »
(Infowars) – The people of the United Kingdom are upset with the prospect of the French government buying the Port of Dover, when, in fact, they should be outraged! It is not the French government that proposes to buy the Port, but a governmental hybrid that follows the collectivists’ blueprint to take over the world’s profitable assets and land. Read the rest of this entry »
(CNBC) – Congressional Panel “Deeply Concerned” over Commercial Real Estate
I guess I didn’t need the Congressional Oversight Panel for the TARP to tell me that commercial real estate was in trouble, but somehow it’s a bit more poignant when they do. Read More Here
Video: How the Federal Reserve Created the US Recession
Learn how the Federal Reserve, the central bank of the United States that is responsible for regulating the supply of money in the US economy, has created the recession the US economy is currently facing. Video Link Here
(ZeroHedge) – The Great Highway Robbery Continues: How The FDIC Is Legally Transferring Billions In Taxpayer Money To Hedge Funds
It is not a secret to anyone who has been closely following the FDIC’s quasi criminal bank takeover practices over the past year, that acquirors of failed banks end up receiving a massive and risk-free gift in the form of taxpayer benefits via the FDIC when it comes to funding losses on a given bank acquisition. Should there be a short sale resulting in a loss to the full principal (not the cost basis mind you)? Not to worry, Sheila Bair is there to hand out taxpayer money to the hedge funds/banks owning the newly transferred assets. Read More Here
(Ohio) – Jobless rate unchanged by billions in stimulus spending
Money for roads, bridges doesn’t ease unemployment on local level, analysis finds Read More Here
(Telegraph) – China orders retreat from risky assets
China has ordered managers of its vast currency reserves to withdraw from risky dollar assets and retreat to core debt guaranteed by the US government, a clear sign that Beijing is battening down the hatches for fresh trouble on global markets. Read More Here
(Kitco) – Davos: The Bomb Shelter
Predators and parasites recently gathered in Davos to discuss the mounting problems of their prey. All present agreed the problem needed urgent attention. Read More Here
(NewJersey) – Chris Christie declares fiscal ‘state of emergency,’ paving way for N.J. spending cuts
Calling New Jersey on “the edge of bankruptcy,” Gov. Chris Christie today declared a fiscal emergency, seizing broad powers to freeze aid to more than 500 school districts and cut from higher education, hospitals and the Public Advocate. Read More Here
(Reuters) – Report: 1 in 5 U.S. homeowners underwater
Foreclosures across the country rose to a new high in December Read More Here
Prepare for the end of record-low interest rates, Federal Reserve Chairman Ben Bernanke says. Just not yet. Read More Here
(Guardian) – Franco-German bailout of Athens expected to avert euro collapse
Summit may see moves to guarantee Greek solvency, as prospect of action by Paris and Berlin buoys markets Read More Here
Video: President Obama’s Pledge Never to Raise Taxes on Anyone Making Less Than $250,000 a Year
This footage was taken during than presidential candidate Obama’s speech in Dover, NH. President Obama pledges not to raise taxes on anyone making less than $250,000 a year. Video Link Here
(WashingtonsBlog) – Something big is happening in China which could have a huge effect on the American economy.
On Tuesday, Reuters reported:
Senior Chinese military officers have proposed that their country … possibly sell some U.S. bonds to punish Washington for its latest round of arms sales to Taiwan.
(WSJ) – Regulators seized five banks in Florida, Missouri, New Mexico, Oregon and Washington, lifting the total number of failures this year to nine as financial institutions struggle with loan defaults and a weak economy. Read the rest of this entry »
(Telegraph) – January 2009 – Americans must prepare themselves for a massive collapse in the dollar as investors around the world dump their US assets, a former Bank of England policymaker has warned. Read the rest of this entry »
Ponzi scheme – a fraudulent investment operation that returns assets to the defrauded from assets they previously loaned to the scheme’s operators or assets paid by subsequent newer “investors” rather than from any actual profit earned
While it is (comparatively) well-known that the US dollar, while a currency, is a solely an instrument of credit issued by the Federal Reserve. All holders of dollars – including myself and most readers of this article – are in debt to the Federal Reserve. Now, this debt is really phantom debt, but the key really is printed on each dollar, more properly known as a Federal Reserve Note: “This note is legal tender for all debts, public and private.” (1) Read the rest of this entry »
Alex Jones covers some recent aspects of diplomatic immunity, as extended to Interpol and other foreign agencies, by way of President Obama’s Executive Order 12425. They, along with foreign troops & assets have been increasingly used throughout the United States to for ‘Homeland’ control over the populace.
Alex Jones covers some recent aspects of diplomatic immunity, as extended to Interpol and other foreign agencies, by way of President Obama’s Executive Order 12425. They, along with foreign troops & assets have been increasingly used throughout the United States to for ‘Homeland’ control over the populace.
(ShanghaiDaily) – It is getting harder for governments to buy United States Treasuries because the US’s shrinking current-account gap is reducing supply of dollars overseas, a Chinese central bank official said yesterday. Read the rest of this entry »
(CSPAN) – December 03, 2009 – “The fed came into existance in 1913 and it wasn’t too many years later that they gave us the depression” Read the rest of this entry »
(Bloomberg) – AmTrust Bank, a Cleveland-based lender with $12 billion in assets, joined five other U.S. banks in being seized by regulators as companies buckle under the weight of commercial real estate losses. Read the rest of this entry »
(TelegraphUK) – Bankers from Rothschild have been appointed to help restructure Dubai World with a mandate to dispose of some of the stricken conglomerate’s famous assets. Read the rest of this entry »
(Telegraph) – Stock markets in Germany, France, Spain and Italy were all down about 2pc in early afternoon trading as investors retreated from riskier assets. Investors spent the morning digesting the news that Dubai World, the government investment company with $59bn of liabilities, is seeking to delay repayment on much of its debt. Price for European government bonds rose as investors moved money into safer assets. Read the rest of this entry »
Who do the banks owe money to? Are those hedge funds affiliated with the very banks that were bailed out? Prof. Chossudovsky explains. He emphasizes the bailouts will not help the crisis, but will exacerbate it. Read the rest of this entry »
Financial insider and commentator Yves Smith wrote an essay last week entitled “MSM Reporting as Propaganda” arguing that the government has been using propaganda to make people think that things are getting better, no one is angry, and – therefore – no one should get upset: Read the rest of this entry »
The postal workers’ struggle is as vital for democracy as any national event in recent years. The campaign against them is part of a historic shift from the last vestiges of political democracy in Britain to a corporate world of insecurity and war. If the privateers running the Post Office are allowed to win, the regression that now touches all lives bar the wealthy will quicken its pace. A third of British children now live in low-income or impoverished families. One in five young people is denied hope of a decent job or education. Read the rest of this entry »
I find it surprising that I’m now getting inquiries from readers, asking if “we’ve reached bottom” in the current economic recession, and asking if the time has come to start buying stocks or residential real estate. It seems that the talking heads of mainstream media are using some sort of voodoo. How can anyone think that we’ve hit bottom, and an economic recovery is in progress? To dispel the myths from the CNBC Cheering Section, please consider the following. (And note that I’ve provided references for each assertion, just so you know that I’m not talking out of my camouflage hat.): Read the rest of this entry »
(MSNBC) – Dylan Ratigan explains in detail how Goldman Sachs has made a fortune from the taxpayer money they received from their buddies at the Treasury and the Fed and paid absolutely none of it back to the American taxpayers. Read the rest of this entry »
The Federal Reserve (Fed) and other central banks currently face a dilemma. A strong central-bank balance sheet is essential for the quality of a currency and the stability of a financial system. Unfortunately, the financial crisis has seen substantial changes in the balance sheets of the world’s major central banks. Read the rest of this entry »
The Federal Reserve (Fed) and other central banks currently face a dilemma. A strong central-bank balance sheet is essential for the quality of a currency and the stability of a financial system. Unfortunately, the financial crisis has seen substantial changes in the balance sheets of the world’s major central banks. Read the rest of this entry »
You’ve probably heard that China has threatened to walk away from certain commodity derivatives contracts.
As Reuters reported in August: Read the rest of this entry »
(BobChapman) – The G-20 Pittsburgh Summit ended last Friday. Their official statements made for some novel and interesting reading. Read the rest of this entry »
Congress and the White House have been busy lately patting themselves on the back for staving off financial armageddon by handing out taxpayer money to Wall Street like it was Halloween candy. But while they’re trumpeting the fact that some financial firms have returned a tiny portion of the trillions of dollars that were given to banks, reality is setting in that Americans will never see that money again and will be paying it off for many, many years to come. Read the rest of this entry »
So now it turns out that the whole Troubled Assets Relief Program (TARP) was a flop or more likely a scam. Remember Bush Treasury Secretary Henry Paulson telling us last September that credit markets had locked up, and then, after half of the $750 billion that he extorted out of Congress was handed out to Wall Street firms, new President Barack Obama justifying the spending of the second half of the money because we needed to “get the banks lending again”? Read the rest of this entry »
(MoneyWeek) – Stock markets continue to expect the best of all worlds.
There will be a V-shaped recovery. Everything is headed back to normal. At least, that’s what you’d believe if you just look at the way stocks have surged. Read the rest of this entry »
(Independent) – Five High street banks in Ireland are to be paid £48bn by a state agency to cover their toxic debts in the biggest financial rescue in the country’s history. Bonds issued by the National Assets Management Agency (Nama) will provide the struggling banks with £7bn more than the current £41bn value of their toxic debts. Read the rest of this entry »
This is one of two Global Research articles exploring the reasons for the introduction of electronic ID cards, worldwide. Already, over 2.2 billion people, or 33% of the world’s population, have been issued with ‘smart’ ID cards. By 2012, the figure will be over 85%. Read the rest of this entry »
(RawStory) – The US economy is recovering from the shock of last year’s banking collapse, but could continue to need financial assistance for an indefinite period into the future, the Treasury Department stated in a report released Monday. Read the rest of this entry »
Americans, particularly ones from the middle class, need to realize that there are no core entitlements imparted by their government representatives, nor any other sources. They have none and should adjust their expectations accordingly. Read the rest of this entry »
(Bob Chapman) – The Financial elites are desperate. They are appealing the Bloomberg directive to reveal who received funding to keep from going bankrupt from the Federal Reserve. Read the rest of this entry »
The U.S. economy is at the beginning of a protracted period of adjustment. The sharp decline in business activity, which began in the summer of 2007, has moderated slightly, but there are few indications that growth will return to pre-crisis levels. Read the rest of this entry »
(WSJ) – Americans are about to re-learn that bank deposit insurance isn’t free, even as Washington is doing its best to delay the coming bailout. The banking system and the federal fisc would both be better off in the long run if the political class owned up to the reality. Read the rest of this entry »
Webster describes what the meaning of Jingle Mail as the retail – commercial and real estate market is on the verge of collapse.. Read the rest of this entry »
(NYPost) – It’s been a hilarious August, watching media supporters of President Obama’s health care package puzzle over the obscure motivations of the noncompliant Americans rallying against it. Read the rest of this entry »
The banking system has taken the country to the financial edge of the greatest recession since the depression. The enormous number of bad loans floating out in the economy only complicates the unemployment situation. When we look into the latest banking data, we realize that over 1,000 of current banks will fail or merge with a too big too fail bank. In fact, the total number will be over 1,000 simply because the “not too big” to fail banks heavily bet on commercial real estate loans that amount to $3 trillion. Read the rest of this entry »
