World Financial Crisis Part 5

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NDPP
World Financial Crisis Part 5
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NDPP

Max Keiser Interviews Paul Craig Roberts (and vid)

http://presstv.com/Program/239676.html

US Economic problems, Student Loan Crisis, etc

NorthReport

No more austerity in Europe - omg

Cdn dollar down

price of oil down

tsx down

dj down

 

This is just a little shock and awe to force investors, and others, into submission.

 

The sky is definitely falling, untill next week when they will want to float more IPOs, and all will be forgotten and forgiven. Laughing

NDPP

Lloyds of London Preparing for Euro Collapse

http://www.telegraph.co.uk/finance/financialcrisis/9292511/Lloyds-of-Lon...

"The chief executive of the multi-billion pound Lloyd's of London has publicly admitted that the world's leading insurance market is prepared for a collapse in the single currency and has limited its exposure 'as much as possible' to the crisis ridden continent.."

Are the Europeans About to Start the Second Half of our Great Depression? (and vid)

http://www.zerohedge.com/news/are-europeans-about-start-second-half-our-...

" 'Just when we think the worst is over - and let's face it we have been in this crisis for five years - we get the second half; are the Europeans about to start the second half of our Great Depression with massive bank runs' are the Jaws-music-inspired words that recent media-favorite Niall Ferguson uses in an interview with CBC.."

NDPP

This is the Report that Might be Freaking Everyone Out about Europe Right Now

http://www.businessinsider.com/a-worrisome-report-from-the-ecb-is-freaki...

"It's all about the money central banks are borrowing from the ECB and how they're going about it.."

NDPP

Europe Moves Closer to Banktatorship  - by Mike Whitney

http://www.counterpunch.org/2012/06/01/europe-moves-closer-to-banktators...

"...German chancellor Angela Merkel is opposed to allowing the European Stability Mechanism (ESM) to recapitalise Spanish banks, but she's likely to capitulate if the crisis worsens. If she does give in, then the mismanaged banks will not be required to restructure their debt, wipe out bondholders and shareholders, remove bad assets, and replace management.

All of the cash for such a bailout would fall on taxpayers, which is exactly what leaders of the European Commission and the European Central Bank want. At the same time the deepening crisis will be used to impose more fiscal reforms which have already pushed unemployment to 20 year highs...

The EU Commission and ECB are allowing the crisis to grow to achieve their goal, which is the creation of a fiscal union controlled by bankers that has unlimited access to funding and the power to impose policy (austerity) through coercion.."

Typical Senior

Perhaps the fiscal union can just be called a Federal Europe? And let's not forget with the first bailout for Greece, they were forced to buy German arnaments. http://digitaljournal.com/article/318237  which points directly at the action the U.S. wants. Coercion on Steroids.

NDPP

Collapse At Hand  -- by Paul Craig Roberts

http://www.informationclearinghouse.info/article31507.htm

"...Will it be the end of the EU or the Euro? These are all very dramatic questions that keep focus off the American situation, which is probably even worse. The reason the Wall Street banksters have not been prosecuted for their crimes is that they are an essential part of the Federal Reserve's policy to preserve the US dollar as world currency. How long can the manipulations continue? When will the proverbial hit the fan?"

NDPP

Engdahl Explains the World (and vid)

http://aangirfan.blogspot.ca/2012/06/engdahl-explains-world.html

In the video below, the historian Frederick William Engdahl explains the economic crisis, the 'Arab Spring' etc

NDPP

GEAB: Red Alert: Global Systemic Economic Crisis

http://www.globalresearch.ca/index.php?context=va&aid=31507

"September-October 2012 - the shock of the autumn of 2008 will seem like a small summer storm..."

NDPP

The Disastrous Consequences of a Euro Crash

http://www.spiegel.de/international/europe/fears-grow-of-consequences-of...

"As the debt crisis worsens in Spain and Italy, financial experts are warning of the catastrophic consequences of a crash of the euro: the destruction of trillions in assets and record high unemployment levels, even in Germany..."

NDPP

Gaming the System  - by Mike Whitney

http://www.counterpunch.org/2012/07/03/gaming-the-system/

"The focus now is on who participates in the collusion. Last May Canada's Competition Bureau filed an affidavit against a number of banks...The stench of corruption is overpowering. Why isn't anyone in jail?"

NDPP

TNN: Ed Herman on Global Finance (and vid)

http://therealnews.com/t2/index.php?option=com_content&task=view&id=33&I...

"We've been in a period in which the power of finance extends into politics more aggresively than it ever was so it's able to stymie any changes..."

Doug

Behold, the British establishment, panicked

 

Not something you get to see every day. The LIBOR fixing scandal is a complete disaster to the British financial community. Also, an article here based on ifnromation from an anonymous banker about how it was done.

NDPP

Eurozone: Centralization Battle Rages On - Max Keiser (and vid)

http://www.presstv.ir/Program/248688.html

interviews Catherine Austin Fitts from Solari.com

on EEC, Reserve currency, Barack Obama, Food Security, GMO food

NDPP

Asset Holes: US 'Leadership' in Money, Credit, CAFR Surplus Trillions (and vid)

http://www.washingtonsblog.com/2012/07/asset-holes-us-leadership-in-mone...

"US system of money, credit and CAFR so-called 'accounting' are designed by a 1% psychopath class to parasitize wealth from the 99%. The 1% are literally asset holes to the 99%.."

The Artist Taxi Driver Rant (and vid)

http://youtu.be/tM3eMMJNnb8

nussy

http://www.youtube.com/watch?v=16K6m3Ua2nw

 

A most honest three and a half minutes of television... -  

NDPP

Keiser Report: Ep 314 (and vid)

http://rt.com/programs/keiser-report/episode-314-keiser-kirby/

"Max Keiser looks at all the scandal behind the financial news headlines.."

 

The Global Financial Fraud and its Gatekeepers  - by Naomi Wolf

http://readersupportednews.org/opinion/279-82/12426-focus-this-global-fi...

"The media's 'bad apple' thesis no longer works. We're seeing systemic corruption in banking - and systemic collusion.."

Fidel

Jeff Daniels, in that video for HBO's The Newsroom, is really good. Thanks nussy and NDPP.

NDPP

Triptych: Sugaring Over Evil, Looting the World, Opening the Ark  -  by Chris Floyd

http://www.chris-floyd.com/component/content/article/1-latest-news/2268-...

"...OK, for the sake of argument, let's take these plutocrat-serving poltroons at their word: there is no money. So where did all the money go then? As the Observer reported this weekend, an extraordinary new study shows exactly where the money went: into the offshore tax havens of the super-super rich.

How much of the world's wealth has been squirreled away by this tiny group of gilded buccaneers? At least 21 trillion. And that's just the lowball end. The actual figure could be up to $32 Trillion..."

Fidel

Beyond Fictitious Kapital  Max Keiser speaks with Michael Hudson

- They can return to progressive taxation and taxing real estate(the rich) or screw pensioners and workers.

- Debts that can not be paid, won't be. 

- Debt deflation, tax deflation, and maintaining the illusion of debt overhead. 

- Hudson says: Nobody trusts the banks anymore including the banks.

- Crash inevitable

- Russians opposing NATO attack on Syria because _________ plus what we feared all along.

Fidel

Fireside on the Great Theft Recent interview with Michael Hudson in Frankfurt's FAZ newspaper

With references to Dr. Strangelove, Dr. Caligari, Rosa Luxemberg,  Karl Liebknecht, Floyd B. Olson, American Trots and Stalinists, ... and, of course, debts that can not be paid, won't be!

NDPP

US Austerity: Genocide of 50 Million People  

http://presstv.com/detail/255471.html

"No matter whether the next US president is named Obama or Romney, the Wall Street financier elite that dominates the US is psychotically planning a series of tax increases for the middle class and working people, cuts in benefits and social services, and a transfer of wealth in favor of the top 1%, all of which will add up to a further cut of about 25% in the depleted US standard of living..."

a similar process is underway in Canada, the recent Liberal-NDP Ontario budget with brutal reductions in living allowances for those on welfare or ODSP, was implemented to applause from the usual faux 'progressives'..

Fidel

NDPP wrote:
a similar process is underway in Canada, the recent Liberal-NDP Ontario budget with brutal reductions in living allowances for those on welfare or ODSP, was implemented to applause from the usual faux 'progressives'..

Quote:
New Democrat changes to the budget• $250 million for new childcare spaces, to keep parents working• Support for local hospitals• Lifting the freeze on OW and ODSP, protecting our most vulnerable neighbours from Liberal cuts• Working with the horse racing industry to offer one-time transition assistance• A real freeze on public sector CEO pay• A promise to work together on a Job Creation Tax Credit• A new Fairness Tax that asks the wealthiest Ontarians to contribute their fair share to building Ontario

Imagine that Hudak had seized phony majority power in Toronto. No one ever mentions that possibility with our manic firstPastthePost games of chance rigged in favour of Bay Street and the one percent.

 

NorthReport

Maybe, just maybe, everybody had it wrong.

 

The Coming Oil Boom

http://www.nytimes.com/2012/08/10/us/10iht-letter10.html?src=recg

NDPP

Lord Rothschild Takes 130 M Bet Against the Euro

http://www.telegraph.co.uk/finance/financialcrisis/9484435/Lord-Rothschi...

"Lord Rothschld has taken a near 130 M bet against the euro as fears continue to grow that the single currency will break up.."

NDPP

Dollar Falls Most Since 2011 As Central Banks Bump Up Stimulus

http://www.bloomberg.com/news/2012-09-29/dollar-falls-most-since-2011-as...

"The Dollar Index fell by the most since the first quarter of 2011 after the European Central Bank pledged to protect the euro from unraveling as the Federal Reserve committed to reduce unemployment via open-ended debt buying, which may debase the US currency.."

 

Is the Money-Laundering Driven Real Estate 'Boom' Ending

http://www.zerohedge.com/news/2012-09-30/money-laundering-driven-real-es...

"One by one, all the money-laundering loopholes in a broke world are coming to an end. Now it is the turn of real esate..."

Doug
kropotkin1951 kropotkin1951's picture

First they came for the immigrants and I was not an immigrant so I said nothing.

Quote:

"I never imagined that something like Golden Dawn would happen here, that Greeks could vote for such people," she sighed. "This policy they have of giving food only to the Greeks and blood only to the Greeks. The whole package is terrifying. This is a party based on hate of 'the other'. Now 'the other' is immigrants, but who will 'the other' be tomorrow?"

NDPP

Far Worse Days Ahead For EU Debt Crisis: Analysts (and vid)

http://www.presstv.com/detail/2012/10/02/264586/eu-debt-crisis-to-become...

"...EU countries are likely to experience 'social unrest' and 'bloody riots' as the debt crisis in the single currency bloc deteriorates. Discussion with analysts."

Doug
Doug
NDPP

Switzerland Army in Preparation For European Meltdown?

http://rt.com/news/switzerland-prepares-europe-unrest-263/

"The Swiss Army is preparing contingency plans for violent unrest across Europe..."

we live here in such a bubble of ignorance, complacency and denial..

Fidel

How long can they continue feeding off the corpse of capitalism? It's as if they are waiting patiently for Beethoven's 10th symphony which will never come. It's finished. Death is pounding on their doors. Little pigs, little pigs, let me come in!

Slumberjack

Quote:
How long can they continue feeding off the corpse of capitalism?

Is Student Debt the Choke Point of Finance Capitalism?

Quote:
The source of outrage from students was that the pledge of fees as collateral on this type of debt contradicted what the fees were supposed to pay for – education in the form of faculty salaries and a little administrative overhead. Throughout the 2000s the “Feegents,” as the students derisively refer to the UC’s board of directors (they prefer to imperiously call themselves the Regents), had hiked student fees upward many times over. This created huge debt burdens on multiple generations that were forced to take out expensive loans.

It started in 2002 with an 11% hike in total charges for resident undergraduates. In 2003, the year Bush II invaded Iraq, the Regents approved a whopping 29% hike. The next year 14%. 2005 students were hit with a fee increase of almost 8%. Between 2006 and 2012 the UC Regents approved a doubling of the financial burden upon undergraduates, increasing mandatory charges from roughly $6,000 to $12,000. Professional students in the medical and law schools had it worse. Grad students were struck also. Out of state students were shook down for huge sums of money.

"Because UC pledges 100% of tuition to maintain its bond rating, it has also implicitly assured bond financiers that it will raise your tuition so that it can borrow more. Since 2004, UC has based its financial planning on the growing confidence of bond markets that your tuition will increase. (Why? Because you’ve put up with this so far, and because UC has no other plan. Its capacity to raise tuition is advertised in every bond prospectus.)”

epaulo13 epaulo13's picture

The Global Banking ‘Super-Entity’ Drug Cartel: The “Free Market” of Finance Capital

HSBC bankers testifying before U.S. Senate on laundering billions in drug money (photo courtesy of The Economist, 21 July 2012)

quote:

I would like to introduce you, the reader, to some realities of our global banking system, resting on the rhetoric of free markets, but functioning, in actuality, as a global cartel, a “super-entity” in which the world’s major banks all own each other and own the controlling shares in the world’s largest multinational corporations, influence governments and policy with politicians in their back pockets, routinely engaging in fraud and bribery, and launder hundreds of billions of dollars in drug money, not to mention arms dealing and terrorist financing. These are the “too big to fail” and “too big to jail” banks, the centre of our global economy, what we call a “free market,” implying that the global banks – and corporations – have “free reign” to do anything they please, engage in blatantly criminal activities, steal trillions in wealth which is hidden offshore, and never get more than a slap on the wrist. This is the real “free market,” a highly profitable global banking cartel, functioning as a worldwide financial Mafia.

http://thepeoplesbookproject.com/

NDPP

Our Collapsing Economy and Currency  -  by Paul Craig Roberts

http://www.informationclearinghouse.info/article33198.htm

"...No on in the White House and no more than one dozen members of the 535 member US Congress represents the American people. This is the reason that despite obvious remedies nothing can be done. America is going to crash big time. And the rest of the world will be thankful. America along with Israel is the world's most hated country. Don't expect any foreign bailouts of the failed 'superpower'."

NDPP

Max Keiser: Episode 380

http://rt.com/programs/keiser-report/episode-380-max-keiser/

the truth about Mark Carney, HSBC and does the US have it in for British banks?

infracaninophile infracaninophile's picture

Can any of you knowledgeable folks recommend a good, not-too-technical book explaining the financial issues (preferably coming from a left of centre perspective and including Canada)?  Economics has always seemed to me to be a cross between religion and voodoo science, what with "faith in the dollar" and legerdemain and pecuniary prestidigitation everywhere. I don't know where to start to get a basic understanding of the issues.

NDPP

Try this:

'Let's Make Money' Documentary

http://www.youtube.com/watch?v=7RGlzSMrwwc

epaulo13 epaulo13's picture

epaulo13 epaulo13's picture
Bec.De.Corbin Bec.De.Corbin's picture

Fidel wrote:

How long can they continue feeding off the corpse of capitalism?

Might you suggest another corpse they can feed off of?

Fidel

Reality economics

A review of Norbert Häring and Niall Douglas, Economists and the Powerful (London: Anthem Press, 2012

Quote:
Häring and Douglas show that the economics discipline did not get this way by accident. They are leading organizers of the World Economic Association, which emerged from the Post-Autistic-Economic movement intended to provide an alternative to mainstream neoclassical and neoliberal economics. (Häring is co-editor of the World Economic Review.) Toward this end they provide a wealth of references tracing how economics was turned into a propaganda exercise for financiers, landlords, monopolists, insiders, fraudsters and other rent-seeking predators whom classical economists sought to tax and regulate out of existence. This state of affairs reflects the century-long drive of these free lunchers to fight back against classical economics by sponsoring self-serving fictions that depict them as earning their fortunes not in predatory and extractive ways, but by contributing to output as “job creators.”

Hudson said previously that Wall St banksters, rent-seekers and other free lunchers managed to "convince" Obama that the financial system should take prioroity over everything else because, and after all, they are the job creators in America and other rich countries. But this is false.

The money managers and financial engineers have been the ones orchestrating the offshoring of jobs and downsizing American  industries. IOW's, they are proven job destroyers not job creators. And like parasites that take over the brains of their hosts in nature, they've managed to convince Obama and company that the U.S. economy will die if they are not nourished with trillion dollar bailouts/U.S. taxpayer-funded handouts. And this, Hudson says, could not be more wrong.

It's no wonder our corrupts in Ottawa have been mouthing the words trade with Asia and China. They know that that this is a special period in history. A few Asian countries were once the largest economies in the world. They are today, once again.

Fidel

Bec.De.Corbin wrote:

Fidel wrote:

How long can they continue feeding off the corpse of capitalism?

Might you suggest another corpse they can feed off of?

Ralph Nader wrote:
"Capitalism will never fail because socialism will always be there to bail it out.”

Your corrupt stooges and their constituents on Wall Street love socialism. Former conservative and William F Buckley protege, Michael Lind of Texas wrote that poliitical conservatives in America ran out of their own ideology after the depression era proved for the umpteenth time in history that laissez-faire capitalism always collapses on its own under ideal conditions. And so they joined with neoliberals and have been essentially copying the communist manifesto but for upside-down socialism for the rich ever since.

America was just another lab experiment gone awry for modern day ideologues at the time. And it's failing again today after another 30-year run in the sun since 1980.  Your so-called capitalists don't actually believe in capitalism and haven't since 1929 or so. They love upside-down socialism and the neoconservative nanny state, though. America has social programs for warmongers, big time bankers with gambling addictions, and basically everyone but the poor.

NDPP

US Banks Shaken By Biggest Fund Withdrawals Since 9/11

http://rt.com/business/news/us-major-deposit-withdrawal-740/

"US Federal Reserve is reporting a major deposit withdrawal from the nation's bank accounts. The financial system has not seen such a massive fund outflow since 9/11 attacks."

epaulo13 epaulo13's picture
NDPP

Cancerous Capitalism (and vid)

http://rt.com/programs/breaking-set-summary/capitalism-brain-us-education/

"Abby Martin talks to University of Guelph professor John McMurty about capitalism as the source of social inequality and what he believes is the root cause of most social ills..."

NDPP

Debt Crisis Looming as Washington 'Hide the Real Fiscal Cliff' (and vid)

http://rt.com/usa/news/debt-crisis-us-kotlikoff-535/

"The US national debt is twenty times higher than is officially reported, approaching $222 Trillion..."

autoworker autoworker's picture

Are there any studies of the relationship between Gulf oil money and the global financial crisis? How exposed are the Saudis and UAE to a potential decoupling of oil and the US dollar, and it's potential devaluation?

epaulo13 epaulo13's picture

RSA Animate - Crises of Capitalism

In this RSA Animate, celebrated academic David Harvey looks beyond capitalism towards a new social order. Can we find a more responsible, just, and humane economic system?

https://www.youtube.com/watch?v=qOP2V_np2c0&feature=player_embedded#!

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