(RealNews) – Costas Lapavitsas: From multimillion dollar losses by cities like Baltimore to pension fund losses and much more, the LIBOR interest rate scandal shows that such mechanisms must be taken out of the hands of banks and be run in public interest Read the rest of this entry »
(AJC) – Labeling genetically-modified organisms (GMOs) is simply too costly, and any law requiring that GMOs be properly labeled will raise food prices significantly. This was one of the many lies propagated by the biotechnology and processed food industries in the months and weeks leading up to the vote on Proposition 37 in California, the historic GMO labeling initiative that was defeated in large part due to the more than $45 million that Monsanto, Dow, Kraft Foods, and dozens of other industry players hypocritically pumped into the fraudulent No on 37 campaign during the final hour. Read the rest of this entry »
Bizarre story behind film that supposedly sparked middle east unrest
(PaulWatson) – An anti-Muslim film that has been blamed for the attacks on U.S. embassies in Egypt, Libya and Yemen is likely a contrived fraud designed to stir up unrest in the Middle East while shielding the true reasons behind the murder of Ambassador Chris Stevens. Read the rest of this entry »
(ZeroHedge) – The democratic voting process is exposed as a fraud as Democratic Party Leaders follow the GOP lead ignoring popularly elected delegates. Read the rest of this entry »
(NaturalNews) – It is time for the truth to be told about Susan G. Komen for the Cure. The organization is, flatly stated, engaged in fraud. Funded by drug companies and mammogram manufacturers, the organization preys upon women in order to grow its own financial power while feeding female victims into the conventional cancer industry grinder. Read the rest of this entry »
(ZeroHedge) – The US GDP is the latest economic statistic to be ‘massaged’ by the government, this time using the accounting fraud technique known as channel stuffing. Read the rest of this entry »
(Fox) – The Department of Justice is reportedly deciding whether to charge banks over growing LIBOR interest rate fixes. The international investment bank Barclays Capital has already paid $450 million in fines for illegally manipulating the rates that banks charge each other to borrow money. That rate affects everything from credit cards to car loans and mortgage rates. Shepard Smith reported that it remains to be seen whether Treasury Secretary Timothy Geithner knew about the rate manipulation when he was head of the Federal Reserve Bank of New York. Read the rest of this entry »
(NaturalNews) – Breaking news: According to two Merck scientists who filed a False Claims Act complaint in 2010 — a complaint which has just now been unsealed — vaccine manufacturer Merck knowingly falsified its mumps vaccine test data, spiked blood samples with animal antibodies, sold a vaccine that actually promoted mumps and measles outbreaks, and ripped off governments and consumers who bought the vaccine thinking it was “95% effective.” Read the rest of this entry »
See Also: (PrisonPlanet) – Infowars.com Readers Overwhelmingly Reject Rand Paul’s Romney Endorsement – Read More Here
(kurtNimmo) – In 2010, Rand Paul courted the neocon wing of the Republican Party. His “pilgrimage” to the heart of darkness should have set-off alarm bells in both the Tea Party and libertarian movements, but it was more or less glossed over.
(BeforeItsNews) – What would happen to you if police caught you on video fraudulently voting? Would cops quickly arrest you and throw you in jail, only to have the District Attorney immediately charge you with fraud? Read the rest of this entry »
(HigginsBlog) – While criminal banks and credit rating agencies that have perpetuated fraud and crashed the global economy are rewarded honest players are slaughtered. Read the rest of this entry »
(FreeStateVoice) – Matt Taibbi speaking at an Occupy Wall Street day of action, February 29th, 2012. He wrote this article for OWS, and passed it out to the crowd. It’s an informative and urgent call to action for Americans from all walks of life. We are happy to be the first to publish it.
See Also: (Reuters) – Euro Zone Agreement Only Partial Solution: IMF – More Here
(PressTV) – The Pentagon has undertaken war games on currency and finance as countries jostle for survival and position with the Euro in danger of collapse.
Press TV has talked with Max Keiser, financial analyst in Paris about the new economic treaty proposal between Germany and France to rescue the collapsing Euro and the impact this could have on other countries if approved. Read the rest of this entry »
(RussiaToday) – This week Max Keiser and co-host, Stacy Herbert, talk about the European penny drops as more banks need more bailouts while the public debt clock ticks up to $40 trillion. In the second half of the show, Max Keiser interviews Michael Betancourt about the threat that Occupy Wall Street presents to our modern form of capitalism that relies on ignorance and passivity in the population in order to operate schemes of fraud and bubbles. Read the rest of this entry »
Alex also talks with film-maker, broadcaster and former broker and options trader Max Keiser. Keiser formerly hosted The Oracle with Max Keiser on BBC World News and currently hosts On The Edge with Max Keiser. Alex also covers the latest news and takes your calls. Read the rest of this entry »
(CorbettReport) – On this edition of Film, Literature & the New World Order we compare the Hollywoodized story of a corporate whistleblower to the painful reality that most fraud takes place with the full understanding and help of the regulators and the media. Read the rest of this entry »
(PeoplesVoice) – It is still fashionable in the American media to deride ‘conspiracies’ with a blanket if illogical and uninformed smear. Conspiracies are, in fact, how things get done in either crime or commerce. Lately, there is little difference. When just one percent of the U.S. population owns more than the rest of us combined, we are expected to believe that this is the result of merit and commerce. But if we should cite the evidence that argues persuasively that this outcome is the result of a conspiracy of right wing politicians and the venal elites who bankroll them we are reviled and/or ridiculed. That’s understandable! We should expect this pack of lies of anyone caught with a hand in the sugar bowl, benefiting financially for having hijacked the apparatus of government for purely venal and/or commercial benefit. Read the rest of this entry »
(NaturalNews) – When the world’s largest pharmaceutical company was found to have engaged in a massive illegal marketing campaign, federal prosecutors decided the company was too big to punish — so they let it set up a shell corporation to take the blame.
In 2001, the FDA approved Bextra for the relief of arthritis and menstrual cramps, but did not approve it for more severe surgical pain. Yet Pfizer aggressively promoted the drug to anesthesiologists and surgeons — “anyone that use[d] a scalpel for a living,” in the words of one internal company document. Company employees also told doctors that the FDA had approved Bextra as safe in doses as high as 40 milligrams, whereas the agency had actually only approved doses up to 20 milligrams. Read the rest of this entry »
(NaturalNews) – Defense attorneys for the perpetrator of one of the largest research frauds in history have claimed that their client, Scott S. Reuben, MD, suffered from “serious, but undiagnosed” bipolar disorder that led him to fabricate data and otherwise falsify his research.
Reuben graduated from medical school in 1985, and soon became a widely published and cited pain researcher. By 2009, he had published at least 72 research studies, and his work had led to a major change in the way pain is treated. But a routine audit in 2008 at Baystate Medical Center, where Reuben had worked since 1991, uncovered discrepancies in Reuben’s research. This led to allegations that Reuben had not actually conducted many (or even any) of the studies that his supposedly groundbreaking findings had been based on.
More than 20 of Reuben’s papers have since been retracted. He has pleaded guilty to fabricating data and patients, and has also been accused of adding the names of uninvolved co-authors without their permission. He has agreed to repay $361,932 in research funding to several pharmaceutical companies, and $50,000 in penalties to the U.S. government. Read the rest of this entry »
(NaturalNews) – Defense attorneys for the perpetrator of one of the largest research frauds in history have claimed that their client, Scott S. Reuben, MD, suffered from “serious, but undiagnosed” bipolar disorder that led him to fabricate data and otherwise falsify his research.
Reuben graduated from medical school in 1985, and soon became a widely published and cited pain researcher. By 2009, he had published at least 72 research studies, and his work had led to a major change in the way pain is treated. But a routine audit in 2008 at Baystate Medical Center, where Reuben had worked since 1991, uncovered discrepancies in Reuben’s research. This led to allegations that Reuben had not actually conducted many (or even any) of the studies that his supposedly groundbreaking findings had been based on.
More than 20 of Reuben’s papers have since been retracted. He has pleaded guilty to fabricating data and patients, and has also been accused of adding the names of uninvolved co-authors without their permission. He has agreed to repay $361,932 in research funding to several pharmaceutical companies, and $50,000 in penalties to the U.S. government. Read the rest of this entry »
(ClimateRealists) – Shock new evidence of a NASA scientist faking a fundamental greenhouse gas equation shames beleaguered space administration in new global warming fraud scandal.
Caught in the heat are NASA’s Dr. Judith Curry and a junk science equation by the space agency’s Dr. Gavin Schmidt creating disarray over a contentious Earth energy graph. Read the rest of this entry »
(MensNewsDaily) – Kerry, Lieberman Ready to End Senate Careers
It’s official. Senators John Kerry and Joe Lieberman have signaled the end of their political careers. The two have introduced what they’ve titled the “American Power Act.” Yep, it’s a global warming bill – Cap-n-Trade, Cap-n-Tax, etc. The premise for this bill is that the industrial emissions of Carbon Dioxide (CO2) are causing global temperatures to rise and to prevent global catastrophe the industrialized world must reduce its emissions of CO2. Read More Here
(HockeySchtick) – Potential cost of Kerry-Lieberman Cap & Tax: $69 – $145 Billion per Year
The Kerry-Lieberman Cap & Tax bill establishes a price collar for CO2 emissions with a floor of $12 per metric ton (increasing annually by 3% + inflation) and ceiling of $25 (increasing annually by 5% + inflation). According to the EPA, US emissions of CO2 in 2009 were 5787 million metric tons. Thus, if the legislation is applied to all US emissions, the cost would be $69 Billion (floor) to $145 Billion (ceiling) annually, increasing ~6 to 8+% each year forever. – Source: Hockey Schtick
(AustralianClimateMadness) – IPCC bias exposed yet again
The UK Telegraph reports that Rajendra Pachauri has “defended the use of grey literature” in the IPCC’s reports. As long as it supports the IPCC’s pre-conceived conclusion of man-made warming, that is. Because whenever grey literature challenges the consensus, the knee-jerk response is “but it isn’t peer-reviewed!”. Hands up who can spot the hypocrisy there? Read More Here
(OZClimateSense) – Kiwi Temperature Fraud Exposed!
Quadrant Online reports on the scandalous state of the NZ temperature records which have been used to buttress unprecedented warming claims in Kiwiland. It seems that records dating back over a century show no appreciable warming until seven stations were cherry picked and then “corrected’ by Jim Salinger- instant warming! Read More Here
(AmericanThinker) – Climategate Taxpayer Fraud Investigation Draws Ideological Heat
Virginia Attorney General Ken Cuccinelli has used the power of government to seek documents from the University of Virginia regarding its former professor and Climategate figure of “hockey stick” fame, Michael Mann. Mr. Cuccinelli is investigating whether Professor Mann engaged in fraud to obtain taxpayer money to fund his research. Read More Here
(GlobalWarming) – The Media Is Ignoring Kerry’s Cap-and-Trade – Read More Here
(Suite101) – Climate Change Has No Scientific Consensus
The United Nations Panel on Climate Change (IPCC) has claimed humans are causing catastrophic global warming. But do most climate scientists agree with this? Read More Here
(RevPolitics) – Video: Climate Change – Is CO2 the cause? – View Video Here
(ZeroHedge) – With Local Gold Inventories Depleted, Panicking German Dealers Stage Run On Krugerrands – Tyler Durden
Last week we noted that several prominent Austrian and German gold dealers had run out of inventory and were no longer transacting with a European population that has suddenly discovered gold religion. As a result, dealers are now focusing procurement efforst outside of Europe, with South Africa receiving the brunt of Europe’s panic for physical precious metals. As the FT reports, “At the Rand refinery in South Africa, the phone has not stopped ringing this week.” Just imagine what will happen when the gold bug goes airborne and jumps across the Atlantic… Read More Here
(Rense) – Our Sympathies To The People Of Greece – It’s “déjà-vu all over again”!!! – Adrian Salbuchi
When Argentinians watch the news today and see the terrible things that are happening in Greece, we cannot but say, “Hey!! This is EXACTLY like Argentina in December 2001 and beginning of 2002!”. Then too, Argentina underwent its worst systemic banking, public debt and monetary collapse which led to social turmoil, mad violence, rioting, and social war. Read More Here
(Bloomberg) – Greece Considering Legal Action Against U.S. Banks for Crisis
Greece is considering taking legal action against U.S. investment banks that might have contributed to the country’s debt crisis, Prime Minister George Papandreou said. Read More Here
(ChartingStocks) – Federal Deficit Chart (1901 to 2010)
Federal Deficit chart from 1901 to present. It aint pretty! See comparisons of current deficit with that of World War 2 below. See Chart Here
(GlobalResearch) – Financial Fraud. How It Works. The Truth behind the Madoff Investment Scandal
The mass media is not telling the entire truth about the Bernie Madoff scandal and that is contributing to the suffering of the victims of the largest investment scandal in history. Massachusetts School of Law Dean Lawrence Velvel ought to know; he’s one of them. “Let me tell you the things you don’t know,” said Velvel, who has written extensively on the complex subject in books and blogs and hosted several television programs dealing with the Madoff affair. “The media isn’t telling the whole story because they generally focus only on the very wealthy people who were taken in. But the vast majority of the victims are ordinary people, like you and me, and they are the ones who are now left twisting in the wind. It looks to us like the wealthy are being helped now while the average bloke who put in $500,000 or $750,000 and who needed to use the income in order to live is being hurt.”Read More Here
(InfoClearingHouse) – The Vicious Circle of Debt and Depression – It Is a Class War
Never before has so much debt been imposed on so many people by so few financial operatives—operatives who work from Wall Street, the largest casino in history, and a handful of its junior counterparts around the world, especially Europe. Read More Here
Will the Wall Street Banksters Ever Be Held Accountable? – Danny Schechter
We are all still stuck in the “big Muddy.” No, not the wars of old or even the oil disaster. The mud I am referring to is more like quicksand and it sucks anyone who wants to look at what happened in the financial crisis deeper and deeper into it.
Soon, you are buried in shifting sea of so-called “exotic financial instruments,” and tranches, derivatives, credit default swaps, naked short-selling, etc and so forth, ad fin item. It’s murkier in there than in the oil-infested waters of the Gulf of Mexico.
(SicSemperTyrannis) – There has been lots of talk about a coming food crisis due to the massive looting of the nations under the cover of an “economic crisis”. Recently, a report published by The Trumpet has shown food prices spinning out of control.
In the article it shows some of the most startling year-over-year price increases in the U.S. markets: Read the rest of this entry »
(NaturalNews) – Medicare issued as much as $92 million in payments between 2000 and 2007 for medical procedures or devices ordered under the names of doctors who had already died, according to a 2008 Senate committee report.
Prescriptions written in the names of deceased doctors are only one of the fraudulent techniques that plague the U.S. health care system, which has become a favorite target for organized crime. “There are so many schemes involved,” said John Gillies, a special agent for the Federal Bureau of Investigation (FBI). “Take any aspect of the healthcare industry and there’s a fraud going on in there right now.”Read the rest of this entry »
(CampaignForLiberty) – Is Sovereign Debt Crisis Contained to Subprime? – Peter Schiff
As Americans observe the chaos in Greece, most assume that the strength of our currency, the credit worthiness of our government, and the vast expanse of two oceans, will prevent a similar scene from playing out in our streets. I believe these protections to be illusory. Read More Here
(IsraelFinancialExpert) – The Euro Crisis and the Euro Collapse- A run on the banks is Imminent – Read More Here
(BullionBullsCanada) – The Silver Price Spiral, Part III: tomorrow
In Part I of this series, I introduced readers to the idea that the price of silver could soar to levels which would even surprise most silver-bulls. In Part II of this series, I pointed out that when our “paper inventories” of silver are exposed that this, alone, sets up the silver market for an enormous price-shock. In Part III of this series, I will discuss how silver has perhaps the most-bullish demand fundamentals of any commodity in history Read More Here
(AZFamily) – Video: Hundreds seek to fill vacant positions at Pro’s Ranch Market
Job hunters turned out in the hundreds to fill recently-vacant positions at Pro’s Ranch Market stores, where a federal audit led to the firing of some 300 workers. View Video Here
(CityWire) – Would You Put Up With What is Being Asked of the Greek People?
Want to know exactly why public anger in Greece is running at such explosive levels? Then take a look at the austerity measures currently being debated by the Greek parliament. Read More Here
Why is the Federal Reserve so afraid of openness and accountability? – Read More Here
(GlobalResearch) – Financial Manipulation and Inside Information: Did the Stock Market Drop Or Was It Pushed? – Danny Schechter
The Wall Street Journal headline on the day after we almost lost the market reported that the wise men on the Street were “baffled” by the big drop Thursday. The Financial Times called the event “Shambolic” as if only a shaman can decode it. Read More Here
(BusinessInsider) – Wealth And Inequality In America: The Rich are getting Richer and the Poor are getting Poorer – Gus Lubin – Read More Here
(FinancialTimes) – Plunge in US equities remains a mystery
The day after $1,000bn was briefly wiped off the market value of US equities, traders were still trying to work out what caused share prices to plunge and then rebound so dramatically in a matter of minutes. Read More Here
(ComingDepression) – Unmentioned: USA slaps more tariffs on China
“The U.S. Department of Commerce said yesterday that it has set preliminary anti-dumping duties on refined Chinese and Mexican copper pipe worth hundreds of millions of U.S. dollars.”
Unless we wake up in the West to what has happened with China monopolizing the world manufacturing sector and supplying easy credit to keep buying their products, we’ll end up like Greece too. China is acting on emotion to sustain its country because if the people there are jobless, we stop buying their stuff – they will collapse into civil strife. Read More Here
(Spiegel) – Huge National Debts Could Push Euro Zone into Bankruptcy
Greece is only the beginning. The world’s leading economies have long lived beyond their means, and the financial crisis caused government debt to swell dramatically. Now the bill is coming due, but not all countries will be able to pay it. Read More Here
(HuffingtonPost) – Stock Market Collapse: More Goldman Market Rigging? – Ellen Brown
Goldman and Wall Street reign. Congress appears helpless to discipline the big banks, just as the European Central Bank appears helpless to prevent the collapse of the European Union. . . . Or are they? Read More Here
(Current) – Thomas Jefferson – Banks more Dangerous than Armies
Banking institutions, paper money, and paper speculation are capable of undermining the nation’s stability and could be a danger in time of war. The Constitution does not empower the Congress to establish a National Bank. Rather than trust the nation’s currency to private hands, the circulating medium should be restored to the nation itself to whom it belongs. Read More Here
Perhaps no other force had as much to do with stabilizing the financial system during the crisis as the Federal Reserve. And no other influence is shrouded in so much mystery. Although its tactics were hugely successful, the Fed has become incredibly controversial due to its secrecy. It has some politicians on both sides of the aisle calling for an audit to enhance transparency. But the Senate amendment — sponsored by Sen. Bernard Sanders (I-VT) — changed significantly on Thursday and lost much of its bite. Read More Here
(AP) – FDIC shuts banks in Fla., Minn., Ariz., Calif.
Regulators on Friday shut down banks in Florida, Minnesota, Arizona and California, bringing the number of U.S. bank failures to 68 this year. Read More Here
(TheComingDepression) – Mortgage fraud in Canada highlights tumbling market
“The Bank of Montreal has been hit by a huge mortgage fraud in Alberta that may cost it $30 million, a report said. The bank is suing hundreds of people in connection with the scam, including lawyers, mortgage brokers and four of its employees, CBC News said, citing legal documents.”
The case may be the largest mortgage fraud in Canadian history, generating about $140 million, with funds channeled as far as Lebanon, India – Read More Here
Video: Rep. Alan Grayson: You Own the Red Roof Inn, Thanks to the Fed
Rep. Alan Grayson discussed the Federal Reserve’s purchase of debt from Bear Stearns, including debt from recently foreclosed Red Roof Inn’s.
In This Segment Alex covers the 1000 point drop of the stock market in real-time
(May 7) – Alex talks with activist Red Beckman, father of the Fully Informed Jury Association and co-author of The Law That Never Was: The Fraud of the 16th Amendment and Personal Income Tax. Read the rest of this entry »
(UnionLeader) – James M. Taylor: Cap and trade — taxing our way to bankruptcy
Senate Majority Leader Harry Reid, D-Nev., has declared (April 28) that he is making global warming the Senate’s top priority. With legislation likely to impose monumental costs on the nation’s economy while accomplishing no real-world climate benefits, this is a fitting conclusion for a Congress intent on bankrupting the nation through sheer clumsiness and ignorance. Read More Here
(BusinessWeek) – U.S. Carbon Limits to ‘Slightly’ Raise Jobless Rate (Update2)
U.S. limits on carbon dioxide and other greenhouse gases that scientists have linked to climate change would raise the unemployment rate, the Congressional Budget Office said today. Read More Here
(OzClimateSense) – Poll:Most Aussies Don’t Believe in Man-made Global Warming
The Sydney Morning Herald reports on a new Galaxy poll showing only 35% of Aussies believe in man-made global warming which is a huge blow to the warming lobby and shows how far out of step the Rudd Government is with the Australian population. Read More Here
(AOLNews) – Late-Season Snow, Frost on the Way
If you thought that all of the winter weather words were packed away in the back of the National Weather Service’s closet, not to be pulled out for months to come, you’re in for a surprise. Two words from the winter glossary — “snow” and “cold” — are going to be mentioned during this first full week of May. Read More Here
(C3Headlines) – Trees of Medieval Warming Period Found Under Swiss Glacier: Scientists Conclude MWP Warmer Than Present
Read here. Map here. Studying the fossil remains of trees located under a Swiss glacier, scientists verify that the treeline was some 200 meters higher than the current one. This indicates that Medieval Warming Period (MWP) was not only warmer, but lasted an extended period.
“Based on radiocarbon dating of the fossil wood remains of eight larch fragments found one meter beneath the surface of the ground at the base of the front of the Piancabella rock glacier,… the authors determined that the wood was formed somewhere between AD 1040 and 1280 …Then, based on this information and “geomorphological, climatological and geophysical observations,” they inferred that “the treeline in the Medieval Warm Period was about 200 meters higher than in the middle of the 20th century, which corresponds to a mean summer temperature as much as 1.2°C warmer than in AD 1950.”…adjusting for warming between 1950 and the present, we calculate
that the MWP was about 0.5°C warmer than the peak warmth of the CWP.”
“With all the hysteria, all the fear, all the phony science, could it be that manmade global warming is the greatest hoax ever perpetrated on the American people? I believe it is.” – US Senator James M Inhofe (Republican – Oklahoma), 28 July 2003.
Such is the rallying cry of the climate change denial movement. Since Senator Inhofe made this statement seven years ago, the drive to discredit climate change and the science that underpins it has enjoyed considerable success, even as awareness about climate change and the threat it poses to humanity has gone mainstream. Read More Here
(AU) – Housing market will implode, warns Edward Chancellor
AUSTRALIA is in the midst of an unsustainable housing bubble that could burst at any time, warns the man who predicted the global credit bust of 2007. Read More Here
(DailyFinance) – FDIC Shuts Seven More Banks at a Cost of Over $7 Billion
The Federal Deposit Insurance Corporation closed seven more banks on Apr. 30, bringing the total to 64 for the year. The day was particularly expensive, costing the agency just over $7 billion. Read More Here
(Telegraph) – Radical tax on debt put to parties
Households should pay a new tax on every pound of debt they owe, according to one of Britain’s leading economists. Read More Here
(BusinessInsider) – Find Out How Much The Greek Bailout Is Costing YOU – Read More Here
(GlobalResearch) – The Criminalization of Wall Street: Will Any Exec at Goldman Sachs Go to Jail? – Danny Schechter
Will Goldman survive the assault? Will the threat of criminal charges being pursued against the world’s leading investment bank spill over onto others on Wall Street? Is the criminalization of the crisis underway, or is all this just a maneuver? Read More Here
(InfoClearingHouse) – The Subprime Conspiracy: Was There A Plan to Blow Up The Economy? – Mike Whitney
Many people now believe that the financial crisis was not an accident. They think that the Bush administration and the Fed knew what Wall Street was up to and provided their support. This isn’t as far fetched as it sounds. Read More Here
(Reuters) – Morgan Stanley fined $14 mln for hidden block oil trade
U.S. futures regulators fined Morgan Stanley (MS.N) $14 million for failing to report a big block oil trade and fined Moore Capital $25 million for attempting to manipulate palladium and platinum futures. Read More Here
(TheState) – Bartering up as economy down
Bartering, trading goods or services rather than charging cash, is an ancient practice. But it has gained popularity during the economic meltdown that left many short on cash but rich in talent or treasures. Read More Here
(BusinessInsider) – David Kotok: $12.5 Billion Is Just The Start Of The Oil Cleanup Costs, And A Double-Dip Is Now Way More Likely
David Kotok of Cumberland Advisors is out with some very gloomy comments about the economic ramifications of the Deepwater Horizon oil spill, and what it will cost. First he notes the ugliest case scenario:
This spew stoppage takes longer to reach a full closure; the subsequent cleanup may take a decade. The Gulf becomes a damaged sea for a generation. The oil slick leaks beyond the western Florida coast, enters the Gulfstream and reaches the eastern coast of the United States and beyond. Use your imagination for the rest of the damage. Monetary cost is now measured in the many hundreds of billions of dollars.
(WebOfDebt) – Hollywood and The Rigging of Financial Markets – Ellen Brown
Betting on the Gross Profits of Upcoming Movies Read More Here
(HuffingtonPost) – Video: Warren Buffett – Nothing ‘Unique’ About Goldman Sachs Deal Targeted By The SEC
In two interviews this morning, Warren Buffett reiterated his support for Goldman Sachs in the wake of the SEC’s civil fraud charges levied against the bank. Read More Here
(Bloomberg) – US Households Lost $100,000 From Crisis, Study Says
The financial crisis and recession cost US households an average of about $100,000 in lost wealth and income, according to a study by former Treasury Department economist Phillip Swagel. Read More Here
(InternationalForecaster) – Global Financial Conflagration: The World of Fiat Money is Buckling under the Pressure of Unpayable Debts – Bob Chapman
America and the world face a financial conflagration of immense proportions. The world of fiat money and massive credit is buckling under the pressure of unpayable debt. Each day the safe haven of gold and silver related assets become more attractive. We ask where else do you go for safety? A conflagration is a fire out of control and that is exactly the conditions the world faces today. The inflationary depression has smoldered for 14 months and it will soon accelerate. Read More Here
(IPSNews) – U.S. States Consider Starting Their Own Banks
At least eight U.S. states are considering proposals to start state-run banks in the wake of an economic crisis where many private banks ceased or greatly decreased their lending, literally shrinking the money pool available in state economies. Read More Here
(WashingtonsBlog) – Should a Stock Market Decline Stop the Goldman Prosecutions?
As of 2007, the bottom 50% of the U.S. population owned only one-half of one percent of all stocks, bonds and mutual funds in the U.S. On the other hand, the top 1% owned owned 50.9%.
She was initially hailed as the “Iron Chancellor” for holding out against a bailout for the Greeks. But this weekend Angela Merkel was accused of having misled voters after it emerged that Germany would contribute more than €25 billion (£21.7 billion) towards a rescue package. Read More Here
(Uruknet) – Confessions Of A Wall St. Nihilist: Forget About Goldman Sachs, Our Entire Economy Is Built On Fraud – Read More Here
(Telegraph) – Pakistan facing bankruptcy
Pakistan’s foreign exchange reserves are so low that the country can only afford one month of imports and faces possible bankruptcy. Read More Here
(BitsOfNews) – Pol/Econ: The 401k Scam
“The 401(k) will turn out to be the greatest systemic financial hoax ever perpetrated on an unsuspecting public.” – William Wollman, The Great 401(k) Hoax
Like most people I was told to plow as much money into my 401k pension plan as possible. So like millions of other workers out there, I did as I was told. By 2003 I had accumulated a nice little nest egg…that I couldn’t touch. Then one day I was in a bookstore and I happened across a book called The Coming Generational Storm. What I read about 401k’s that day made me immediately stop all contributions. Read More Here
(Bloomberg) – Carnivores’ Dilemma Widens as Pork Signals Record Meat Prices
U.S. meat prices may rise to records this summer after farmers reduced hog and cattle herds to the smallest sizes in decades, the result of surging feed costs linked to demands for more ethanol. Read More Here
(CatoInstitute) – Video: Advice to Tea Partiers
The Tea Party movement may endure, but its endurance will be a testament to its ability to understand that cutting government means having a long-term focus. John Samples, author of The Struggle to Limit Government and Director of the Cato Institute’s Center for Representative Government, offers an assessment of what Tea Partiers should do if they want to sustain an effort to cut government. Read the rest of this entry »
With every week that passes, we learn more about ObamaCare and it just gets worse. The recent report on the practical effects of ObamaCare from the Chief Actuary of the Centers for Medicare and Medicaid (CMS) is devastating.
(Investors) – Cap-And-Trade: While senators froth over Goldman Sachs and derivatives, a climate trading scheme being run out of the Chicago Climate Exchange would make Bernie Madoff blush. Its trail leads to the White House. Read the rest of this entry »
(NaturalNews) – Court documents unsealed as part of a lawsuit against drug giant Pfizer reveal how drug companies used deception and fear to manipulate women into taking dangerous hormone replacement therapy (HRT) drugs. Read the rest of this entry »
(Reuters) – SEC order helps maintain AIG bailout mystery – Read More Here
(OpenSecrets) – Hedge Fund Manager in Goldman Sachs Fraud Case is a Major Donor to Both Democrats and Republicans
A New York investor named John A. Paulson is at the heart of the fraud lawsuit filed today by the Securities and Exchange Commission against Goldman Sachs. Read More Here
(CNSNews) – Video: Rep. King – ‘I’m For Abolishing the IRS and the Fed. I. Tax
Rep. Steve King (R-Iowa) said he supports “abolishing” the Internal Revenue Service (IRS) and the federal income tax code. He made his remarks at a pre-tax-day event on Capitol Hill with other Republicans and several conservative activists. Video Link Here
(BBC) – IMF proposes two big new bank taxes to fund bail-outs – Read More Here
(RussiaToday) – Video: Goldman Sachs Fraud Charge – Bonuses for Buttons – View Video Here
(Telegraph) – New speed cameras trap motorists from space
A new type of speed cameras which can use satellites to measure average speed over long distances are being tested in Britain. Read More Here
(WashingtonExaminer) – Is Goldman Obama’s Enron? No, it’s worse
Campaign contributions from Goldman Sachs employees to President Obama are nearly seven times as much as President Bush received from Enron workers, according to numbers on OpenSecrets.org. Read More Here
(AUNews) – Europes air industry at risk of implosion, warns Emirates boss Tim Clark
EUROPE’S aviation industry could face an “implosion” if the volcanic ash cloud grounds flights indefinitely, the president of Emirates airline warned. Read More Here
(CMNNews) – Tier 5 Unemployment Benefits Extension 2010 – A Desired Lifeline for Long Term Unemployed
The Tier 5 benefits extension has yet to be passed, as a political game of back and forth in Washington has ensued. Not only are citizens concerned about the future of their families during this tough time, but many are at the end of their ropes. Read More Here
(Bloomberg) – IMF Says Government Debt Poses Biggest Risk to Growth
The International Monetary Fund cautioned that rising government debt has replaced financial industry stress as the biggest threat to the global economy and cut its estimate for asset writedowns by 19 percent. Read More Here
(DailyCaller) – Regulatory reform debate obscures key fact: Everybody’s getting money from Wall Street
In the often-confusing debate on financial regulatory reform, there are many assertions and accusations but few facts. Yet here are two: Washington is awash in Wall Street money, and both Republicans and Democrats are recipients. Read More Here
(DailyMarkets) – Is America’s Economic Recovery On The Whole Based On A Rotten Sham?
The economic “recovery” we are now witnessing is based on theft, greed and deceit. It’s a giant rip-off, a rotten sham. In this sleazy imitation of a free market economy, liars, cheats and deadbeats are the ones getting rewarded. Read More Here
(RevoltofthePlebs) – Goldman Sachs Eats Its Young
This should be a lesson to all those young, aggressive, upwardly mobile Wall Street wannabes who think they are somehow going to fast track their way into the stratosphere of high finance. Read More Here
(Reuters) – US will act if China does not revalue yuan-lawmaker
A U.S. House of Representatives committee chairman on Monday warned the United States will take action if China does not begin steps in coming months to raise the value of its currency. Read More Here
(BusinessWeek) – Obama’s Former White House Counsel Craig Advising Goldman Sachs
Gregory Craig, President Barack Obama’s former White House counsel, is working as an adviser to Goldman Sachs Group Inc., a spokesman for the New York-based company said. Read More Here
(HumanEvents) – Obama Now Pushing Sneaky Wall Street Bailout
Fresh off his successful (for now) effort to ram through an unpopular healthcare “reform” law, President Barack Obama is now fighting for legislation on Capitol Hill that would set up a permanent fund to bail out companies in the financial sector. Read More Here
(Examiner) – Obama repaying his masters at Goldman Sachs
President Obama is sponsoring a bill by the Senate Banking Committee Chairman Chris Dodd(D-CT) that would reward the Financial Firm Goldman Sachs with up to Billions of Dollars. The bill implements a $50 billion resolution fund to the firms creditors through fees that would come from banks and other businesses, which the bill calls a “nonbank financial company.” Critics are calling it a “backdoor bailouts” to Goldman Sachs who was already payed $12.9 billion in tax dollars through the bailout of AIG. Read More Here
(InternationalForecaster) – Decline in Bank Lending: Business Investment in America is almost at a Standstill – Bob Chapman
One of the reasons for less bank lending is the almost non-existent market for securitized bonds. Investors have so many bad loans on their books that they refuse to commit to further risky investments. This means banks are forced to hold this toxic paper on their books and that inhibits them from lending at higher levels. If the Fed had not purchased $1.7 trillion of this toxic junk many banks would currently be in bankruptcy. Thus, there still are trillions in these bad loans on the books of many financial institutions and they cannot be sold and they are clogging up the system, and there is no end in sight for the problem. Read More Here
(GlobalResearch) – Goldman Sachs and the Mega Banks: Too Big To Obey The Law – Read More Here
(DailyShow) – Video: These F@#king Guys – Goldman Sachs – John Stewart – View Video Here
(OpenSecrets) – Will Obama Return $994,795 In Goldman Sachs Campaign Contributions?
This table lists the top donors to this candidate in the 2008 election cycle. The organizations themselves did not donate , rather the money came from the organization’s PAC, its individual members or employees or owners, and those individuals’ immediate families. Organization totals include subsidiaries and affiliates. Read More Here
(Politico) – Sherman: Dodd Bill Contains Unlimited Bailout Authority Read More Here
(MarketOracle) – America’s Economic Recovery Is a Rotten Sham
More evidence has arisen that the “strategic default” consumer spending thesis is correct – and that the economic recovery on the whole is based on a rotten sham. Read More Here
(WND) – Next bubble: $600 trillion?
Cities, states, universities could sink from monster derivatives meltdown Read More Here
