financial crisis

Financial Markets, Money Creation & the European Debt Crisis

It is astonishing that this pernicious web of lies has been spun largely unchallenged; that the construction of this vast edifice of fabrication has been permitted. Yet the powerful mythology surrounding benefits comes tumbling down with the slightest pressure; crumbles at the gentlest application of logic or rationality, shatters and splinters on exposure to mere facts.
The post Let’s Call The Whole Thing Off appeared first on BSNEWS.

The average person is told all manner of things that are incorrect, wrong and falacious via the media and the government and think it is real.
One day soon, though, like in the movie, your average person in the US is going to have their boat run up into the falsely erected walls and realize that everything they believed about the US economy was a lie.
By then the US economy will be a smoldering crater, the US dollar will have collapsed and capital and travel controls will be fully in place.

Journalist Ellen Brown thinks one of the biggest banker frauds on the planet is the rate rigging of the London Interbank Offered Rate, or LIBOR. Hundreds of trillions of dollars’ worth of interest rates are set off of LIBOR globally. Many claim in court they were cheated, and that includes the FDIC. Brown says, “The FDIC suit is different from the others. Most of the previous suits were about anti-trust and RICO, which is racketeering and are federal claims. . . .

Michael: The problem with Piketty’s statistics are that it vastly understates how unequal the world really is and that’s because – you may know in Australia that our Queen of Mean, the hotel lady Leona Helmsley said “Only the little people pay taxes”. What she means is only the little people earn income. Rich people in America don’t earn income, they make capital gains and capital gains are not in everybody’s income statistics, they’re not in the statistics basically that are reported.

The larger question is why our state and local governments continue to do business with a corrupt global banking cartel. There is an alternative. They could set up their own publicly-owned banks, on the model of the state-owned Bank of North Dakota. Fraud could be avoided, profits could be recaptured, and interest could become a much-needed source of public revenue. Credit could become a public utility, dispensed as needed to benefit local residents and local economies.

Taxpayers are paying billions of dollars for a swindle pulled off by the world’s biggest banks, using a form of derivative called interest-rate swaps; and the Federal Deposit Insurance Corporation has now joined a chorus of litigants suing over it.
The post The Global Banking Game Is Rigged, and the FDIC Is Suing appeared first on BSNEWS.

Global government debt has reached over one hundred trillion dollars. But where has all of that money really gone?
There will be no economic recovery. Prepare yourself accordingly.
The post Dead Dollar Walking: The Facts About US Government Debt appeared first on BSNEWS.

Of all the complaints you hear about the Underground, one that crops up very little is, "I wish there weren’t so many ticket offices"

Under the new plans, aimed at saving about £50 million a year, more than 750 people will lose their jobs, all 260 tube ticket offices across the network will be closed, and a new 24-hour service will be running at weekends.The post London tube strike enters second day appeared first on BSNEWS.