Representatives from 24 central banks and monetary authorities including the US Federal Reserve and European Central Bank landed in Sydney to meet tomorrow at a secret location, the Herald Sun reports.
Organised by the Bank for International Settlements last year, the two-day talks are shrouded in secrecy with high-level security believed to have been invoked by law enforcement agencies.
Speculation that the chairman of the US Federal Reserve, Dr Ben Bernanke, would make an appearance could not be confirmed last night.
The event will be dominated by Asian delegations and is expected to include governors of the Peoples Bank of China, the Bank of Japan and the Reserve Bank of India.
The arrival of the high-powered gathering coincided with a fresh meltdown on world sharemarkets, sparked by renewed concerns about global growth and sovereign debt.
Fears countries including Greece, Portugal, Spain and Dubai could default on debt repayments combined with disappointing US jobs data to spook investors.
Australia's ASX 200 slumped 2.4 per cent, to a its lowest close since November 5, echoing a sharp fall on Wall Street.
Asian share markets were also pummelled, with Japan's Nikkei 225 down almost 3 per cent and Hong Kong's Hang Seng slumping 3.3 per cent.
The damage was also being felt by European markets last night with London's FTSE 100 down sagging 1 per cent in early trade.
Sovereign debt fears rippled through to the Australian dollar which was hammered to a four-month low of US86.43 and was trading at US86.77 cents last night.
"This does feel like '08 and '07 all over again whereby we had these sort of little fires pop up and they are supposedly ... (more)
More Government Equals Fewer Jobs
posted 02/08/2010, 11:15 PM (Peter Schiff) [Category: Economy] With today’s unexpected decline in December payrolls, the cry for more job-related stimulus will grow even louder. But the sad truth is that any new stimulus or jobs bills will ultimately swell the ranks of the unemployed, thereby raising calls for an even bigger federal effort. If we are not careful, government regulations, subsidies, and spending, all designed to fight unemployment, could push the labor market into a death spiral.
Phoenix gives OK to 2% tax on food
posted 02/08/2010, 11:10 PM (The Arizona Republic ) [Category: Economy] Desperate to save police, fire and other city jobs, a divided Phoenix City Council on Tuesday approved a sales tax on grocery items that will generate tens of millions of dollars a year.
The 2 percent food tax will take effect April 1 and expire after five years, though Mayor Phil Gordon said the council has the option of reversing its decision after it hears from the public during 15 budget hearings planned for this month.
The tax on milk, meat, vegetables and oth... (more)
The Obama administration says the government will grow to 2.15 million employees this year, topping 2 million for the first time since President Clinton declared that "the era of big government is over" and joined forces with a Republican-led Congress in the 1990s to pare back the federal work force.
Most of the increases are on the civilian side... (more)
More than a third of the streetlights in Colorado Springs will go dark Monday. The police helicopters are for sale on the Internet. The city is dumping firefighting jobs, a vice team, burglary investigators, beat cops -- dozens of police and fire positions will go unfilled.
This is just a tactic to get people to beg for more government. They cut basic services while spending millions on garbage pet projects to their business buddies. People need to call for real investigations into where their money is actually going before they spend another dime on so-called government services. - Chris, IL
Tuesday February 2nd, 2010
Obama’s Budget Has One Small, Missing Piece…. For $6.3 Trillion Dollars
posted 02/02/2010, 9:11 PM (Zero Hedge) [Category: Economy] Today, to much fanfare, the administration released its ridiculous $3+ trillion budget (we say + because at that size the one thing certain is that the budget will certainly never hit the target and while we wish it would be lower, we are certain it will end up materially higher), which consists of a “short” 192-page summary section and a 1420 page appendix. We are confident that not one politician will read the whole thing from cover to cover. We won’t either. Not because we don’t care ... (more)
The president in the speech declared that his administration has cut taxes for 95% of Americans. He even chided Republicans for not applauding on that point. However, just 21% of voters nationwide believe that taxes have be... (more)
The budget proposal released Monday would extend Obama's signature Making Work Pay tax credit—$400 for individuals, $800 for a couple filing jointly—through 2011. But it would also impose nearly $1 trillion in higher taxes on couples making more than $250,000 and individuals making more th... (more)
Only 15% of voters hold the opposite view and believe that increasing government spending is the better approach.
However, while voters overwhelmingly think cutting taxes is the better approach, they also overwhelmingly expect Congress and President Obama to take the opposite approa... (more)
Obama Budget Has $1.9 Trillion Tax Rise
posted 02/02/2010, 8:51 PM (Bloomberg) [Category: Economy] Feb. 2 (Bloomberg) -- The Obama administration seeks a $970 billion tax increase over the next decade on Americans earning more than $200,000 and wants to take in an additional $400 billion from businesses even as it retools a proposed crackdown on international tax-avoidance techniques.
The administration budget released yesterday would reinstate 10-year-old income tax rates of 36 percent and 39.6 percent for single Americans earning more than $200,000 and joint filers making mo... (more)
Ron Paul Bill Seeks Coin and Bullion Tax Ban
posted 02/02/2010, 8:50 PM (CoinNews.net) [Category: Economy] Congressman Ron Paul [R-TX] on Wednesday introduced legislation that would, if signed into law, end taxes on coins and bullion and repeal legal tender laws. The bill’s lofty goal is to reintroduce a system of competing currencies.
"At this country’s founding, there was no government controlled national currency. While the Constitution established the Congressional power of minting coins, it was not until 1792 that the US Mint was formally established," Rep. Ron Paul said.
Congressman Paul makes the case for his legislation to allow co... (more)
The Fed as Giant Counterfeiter
posted 02/02/2010, 8:50 PM (Mises Institute) [Category: Economy] San Jose State economics professor Jeffrey Rogers Hummel tells all his students that the easiest way to understand the Federal Reserve is to think of it as a giant, legalized counterfeiter. I had always known that the Fed and other central banks were like counterfeiters, but I still thought that the actual mechanics of open-market operations and so forth actually provided some important distinctions.
Zero Private-Sector Jobs Created In Past 11 Years
posted 01/29/2010, 5:16 PM (Investors.com) [Category: Economy] It's been pretty widely discussed that the past decade was a lost one for job creation. But focusing on private payrolls alone would also wipe out nearly all of the employment gains from 1999, among the better years on record.
Next Friday's employment report comes with an annual benchmark revision that the Bureau of Labor Statistics estimated would erase 855,000 private jobs (and add 31,000 government jobs).
Subtract that from the seasonally adjusted D... (more)
Record number of young Americans jobless
posted 01/29/2010, 5:14 PM (Reuters) [Category: Economy] CHICAGO (Reuters) - The U.S. economic recession has taken a particularly heavy toll on young Americans, with a record one out five black men aged 20 to 24 neither working nor in school, according to research released on Tuesday.
Teenagers have found it significantly harder to get a job since the recession began in late 2007, with black youths and young people from low-income families faring the worst, wrote Andrew Sum of Northeastern University in Boston, a employment researcher c... (more)
Critics who think that the U.S. dollar will be replaced by some new global currency are perhaps thinking too small.
On the world horizon looms a new global currency that could replace all paper currencies and the economic system upon which they are based.
The new currency, simply called Carbon Currency, is designed to support a revolutionary new economic system based on energy (production, and consumption), instead of price. O... (more)
Airlines suffered record drop in traffic in 2009: IATA
posted 01/29/2010, 5:13 PM (AFP) [Category: Economy] International airlines suffered their biggest decline in traffic since 1945 last year as passenger demand fell 3.5 percent, the International Air Transport Association said Wednesday.
Freight also fell, by 10.1 percent, as "full-year 2009 demand statistics for international scheduled air traffic that showed the industry ending 2009 with the largest ever post-war decline," IATA said in a statement.
"In terms of demand, 2009 goes into the history books as the worst ye... (more)
The tax measures passed easily, with late returns showing a 54 percent to 46 percent ratio. Measure 66 raises taxes on households with taxable income above $250,000, and Measure 67 sets higher minimum taxes on corporations and increases the tax rate on upper-level profits.
"When the people find that they can vote themselves money, that will herald the end of the republic." - Benjamin Franklin
Bill Gates says U.S. recovery to take years, taxes rise
posted 01/29/2010, 5:11 PM (Reuters) [Category: Economy] WASHINGTON (Reuters) - Bill Gates, the world's richest man, said on Monday the U.S. economy could take years to recover from recession and predicted taxes will have to rise to bring the federal budget into balance.
Speaking on ABC's Good Morning America, Gates also warned against too much government intervention and urged President Barack Obama to focus policy on long-term issues such as education to combat the effects of the worst recession since the Great Depression.
The prime minister believes the dramatic US move to curb risky activities by major US banks indicates a new-found willingness on the part of Washington to contemplate radical reform of markets.
Amid signs that key opponents of a transaction tax in Obama's administration have been sidelined, Brown i... (more)
A CNN/Opinion Research Corporation survey released Monday morning also indicates that 63 percent of the public thinks that projects in the plan were included for purely political reasons and will have no economic benefit, with 36 percent saying those projects will benefit the economy.
On the same day that President Barack Obama announced an ambitious plan to reform the US financial system, bankers at the largest Wall Street institutions indicated that they are already finding ways around the proposed changes.
Sources at three Wall Street banks told BusinessInsider’s John Carney that “they are already finding ways to own, invest in and sponsor hedge funds and... (more)
Benedict Arnold fake conservatives stab supporters in the back,... (more)
Reposted because this is extremely important, all these whore fake conservatives do is call for new taxes to "pay off the debt" (to foreign bankers). The debt is completely illegal and illegitimate and we don't need to pay it. Just as Iceland is saying they are not going to pay off their debt to the British and the British are calling them terrorists and threatening to use anti-terrorism laws against Iceland the US needs to declare their debt to the privately run Federal Reserve illegitimate and refuse to pay it. - Chris, IL
Paul Grignon's 47-minute animated presentation of "Money as Debt" tells in very simple and effective graphic terms what money is and how it is being created.
Our economy could be turned around virtually overnight if we simply arrested the criminal federal reserve bankers and returned to a sound money system.
The IRS is a criminal organization which is not part of the US Government, it is a private criminal extortion racket set up to rob the American people on behalf of criminal foreign bankers including the Rockefellers and the Rothschilds. This film from 50 years ago explains the real history of money and how it is quite possibly the biggest scam of all time. - IL
"Banking was conceived in iniquity and was born in sin. The bankers own the earth. Take it away from them, but leave them the power to create money, and with the flick of the pen they will create enough deposits to buy it back again. However, take it away from them, and all the great fortunes like mine will disappear and they ought to disappear, for this would be a happier and better world to live in. But, if you wish to remain the slaves of bankers and pay the cost of your own slavery, let them continue to create money."
- Sir Josiah Stamp, Director of the Bank of England (in the 1920s); reputed to be the 2nd wealthiest man in England at that time.
Dashing hopes that America was pulling smoothly out of its toughest postwar economic setback, the commerce department revealed that the expected pre-Christmas hiring spree had failed to materialise.
Wall Street had been expecting fresh evidence that low interest rates and higher government spending were bringing a ha... (more)
Economic Stability and Recovery = Credit Expansion.
We cannot recover until we purge the excess debt from the system, and the longer we take to do that, the longer the pain will last and the worse it will be.
President Obama and Tim Geithner know this - that's why they are constantly harping on banks to "lend more."
Well, they may want banks to lend more but the people are fed up with being debt ... (more)
Horizon Bank first U.S. bank failure of 2010
posted 01/10/2010, 7:11 PM (Reuters) [Category: Economy] WASHINGTON, Jan 8 (Reuters) - U.S. regulators closed Horizon Bank (HRZB.O) of Bellingham, Washington, on Friday, kicking off what has been forecast as a peak year for small bank failures.
The Federal Deposit Insurance Corp said Horizon Bank had approximately $1.3 billion in total assets and $1.1 billion in total deposits as Sept. 30.
Friday's bank failure is expected to cost the FDIC's insurance fund a total of $539.1 million.
2010: "The year of severe economic contraction"
posted 12/17/2009, 12:34 AM (Mike Whitney) [Category: Economy] The upbeat reports in the financial media, belie the effects of the ongoing credit contraction. Massive injections of central bank liquidity have prevented the collapse of financial markets, but have done nothing to ease the deleveraging of households or stimulate activity the broader economy. The crisis has stripped $13 trillion in equity from working families who now find their access to credit either cut off or severely curtailed by the same banks that received hefty taxpayer-funded bailouts.... (more)
The move will give the hyper-rich club of oil exporters a petro-currency of their own, greatly increasing their influence in the global exchange and capital markets and potentially displacing the US dollar as the pricing currency for oil contracts. Between them they amount to regional superpower with a GDP of $1.2 ... (more)
Benedict Arnold fake conservatives stab supporters in the back,... (more)
Thursday December 10th, 2009
U.S. Homeowners Lost $5.9 Trillion Since 2006 Peak
posted 12/10/2009, 2:46 AM (Bloomberg) [Category: Economy] Dec. 9 (Bloomberg) -- U.S. homeowners have lost about $5.9 trillion in value since the housing market’s peak in March 2006 as mounting foreclosures and the recession weighed on prices, according to Zillow.com.
Almost half a trillion dollars was wiped out this year through November as housing headed for a third straight annual decline. New foreclosures and higher mortgage rates in 2010 may hinder a rebound, the property data service said today in a statement.
Tuesday’s new number from the index showed a gain of just under .5% for the month of September, but the index remains 30% below the high in June 2006. Based upon a trend generated from the actual prices of 1987 to 1997, and generated forward in a linear projection, the index will fall a total of 62... (more)
The Federal Deposit Insurance Corp. reported Tuesday that U.S. bank loans fell by $210.4 billion or 2.8% during the third quarter – the biggest drop since the FDIC started keeping records in 1984. Banks booked $2.8 billion in third-quarter profits, reversing a second-quarter loss of $4.3 billion. "We need to see banks making more loans to their business customers,... (more)
Overall debt is still far too high in almost all rich economies as a share of GDP (350pc in the US), whether public or private. It must be reduced by the hard slog of "deleveraging", for years.
"As yet, nobody can say with any certainty whe... (more)
SocGen Urges Sale of Dollar Ahead of ‘Global Collapse’
posted 11/28/2009, 6:01 PM (HouseingWire) [Category: Economy] French investment bank Société Générale recommended selling the dollar as the first part of a stream of advice to its clients on preparing for a “global economic collapse.” A declining dollar might provide a means to reducing global imbalances, the firm said in a report written by seven individuals to investors.
US government debt is approaching 100% of gross domestic product (GDP) by the end of fiscal year 2010, with further increases in public expenditure expected into 2011, Soc... (more)
Wednesday November 25th, 2009
Under H.R. 2454 (Cap and Trade Bill), homeowners need upgrades and a license to sell a house
posted 11/25/2009, 5:52 PM (PicassoDreams.com) [Category: Economy] This is just disturbing. It's not like there is any money for the additional $700 billion necessary for troops in Afghanistan, or money to treat the veterans returning from Iraq and Afghanistan with life altering injuries, or money for the socialized medicine (bye bye privacy) via private, for-profit insurers, or money the bailouts and stimulus programs, or money to find the bankrupt FDIC, or money fro the retiring Baby Boomers, but let no one doubt that government bureaucrats and politicians w... (more)
According to the government's broadest measure of unemployment, some 17.5 percent are either without a job entirely or underemployed. The so-called U-6 number is at the highest rate since becoming an official labor statistic in 1994.
The number dwarfs the statistic most people pay attention to—the ... (more)
Sir James Goldsmith, European Parliament Member and famous billionaire explains the perils of the so-called "free-trade" agreements of NAFTA and more importantly GATT, and how under the guise of free-trade our economy will be deindustrialized and mov... (more)
Documentary on the events that led to the economic collapse of Argentina in 2001 which wiped out the middle class and raised the level of poverty to 57.5%. Central to the collapse was the implementation of neo-liberal policies which enabled the swindle of billio... (more)
America's freedom and prosperity derive from the combination of the idea of human liberty in America's Declaration of Independence with the idea of economic freedom in Adam Smith's Wealth of Nations. Friedman explains how markets and voluntary exchange organize ... (more)
It's no secret that when gas prices dropped early in the year and with the recession in full swing, hybrid sales saw their first drop in years. Faced with tough new fuel economy restrictions, auto executives had come up with all sorts of unusual suggestions -- such as cutting crash testing -- but now had to puzzle over a new dilemma; what if consumers don't want the higher-p... (more)
Wednesday November 4th, 2009
How Goldman secretly bet on the U.S. housing crash
posted 11/04/2009, 4:52 PM (McClatchy Newspapers) [Category: Economy] WASHINGTON — In 2006 and 2007, Goldman Sachs Group peddled more than $40 billion in securities backed by at least 200,000 risky home mortgages, but never told the buyers it was secretly betting that a sharp drop in U.S. housing prices would send the value of those securities plummeting.
Goldman's sales and its clandestine wagers, completed at the brink of the housing market meltdown, enabled the nation's premier investment bank to pass most of its potential losses to others ... (more)
Sunday November 1st, 2009
Ron Paul: Be Prepared for the Worst
posted 11/01/2009, 6:20 PM (Forbes) [Category: Economy] Any number of pundits claim that we have now passed the worst of the recession. Green shoots of recovery are supposedly popping up all around the country, and the economy is expected to resume growing soon at an annual rate of 3% to 4%. Many of these are the same people who insisted that the economy would continue growing last year, even while it was clear that we were already in the beginning stages of a recession.
A false recovery is under way. I am reminded of the outlook in 19... (more)
The Real Climate Change Catastrophe
posted 11/01/2009, 6:19 PM (Christopher Booker) [Category: Economy] Next Thursday marks the first anniversary of one of the most remarkable events ever to take place in the House of Commons. For six hours MPs debated what was far and away the most expensive piece of legislation ever put before Parliament.
The Climate Change Bill laid down that, by 2050, the British people must cut their emissions of carbon dioxide by well over 80 per cent. Short of some unimaginable technological revolution, such a target could not possibly be achiev... (more)
By 2020, the new levy would amount to 80 per cent of the cost of the average gas bill and 30 per cent of the average electricity bill.
The tax forms part of a £150 billion package of proposed measures, including a tripling of fuel duty over the next decade and a tax of up to £3,300 on new cars.
9 more U.S. banks fail; $2.5 billion hit for FDIC
posted 11/01/2009, 6:15 PM (MarketWatch) [Category: Economy] SAN FRANCISCO (MarketWatch) -- Nine more U.S. banks, all owned by the same Illinois holding company, were closed Friday by regulators, and the Federal Deposit Insurance Corp. said U.S. Bank of Minneapolis would assume their deposits.
The closings brought the 2009 total to 115 in 2009 -- the first year since 1992 that more than 100 banks have gone under.
The banks as of Sept. 30 had combined assets of $19.4 billion and deposits of $15.4 billion, the FDIC said.
... (more)
It's a history where the bankers have embedded themselves into the economy, building up infrastructure for a time, then bringing down the system within the United States in concert with the international economic warfare and the rise of global government.
Leading Climate Scientist: Cap and Trade Could Ruin US Economy
posted 10/29/2009, 3:37 PM (Northern News Network) [Category: Economy] BILLINGS - As debate over climate change legislation heats up on Capitol Hill, the Director of the University of Montana’s Climate Change Studies Program, and a co-author of a Nobel Prize winning report, says cap and trade legislation could ruin the US economy.
During a Wednesday morning interview with statewide radio talk show host Aaron Flint on “Voices of Montana,” Dr. Steve Running said any climate change solution needs to involve all nations.
The leaked proposals, seen by the Daily Express, state that Britain should lose the billions of pounds in rebate that was agreed by Margaret Thatcher 25 years ago.
The plans – with a foreword by European Union Commissioner Jose Manuel Barroso – would cost every British family at least £155 a year.
Back-Door Taxes Hit U.S. With Financing in the Dark
posted 10/29/2009, 3:34 PM (Bloomberg) [Category: Economy] Oct. 26 (Bloomberg) -- Salvatore Calvanese, the treasurer of Springfield, Massachusetts, for four years, had a ready defense for why he risked $14 million of taxpayer money on collateralized-debt obligations laden with subprime mortgages in 2007.
He didn’t know what he was buying, he says, and trusted the financial professionals who sold them and told him they were safe.
“I thought they were money markets that were just paying more,” Calvanese said in an interview. ... (more)
Fed Up: The political movement to curtail the Federal Reserve goes from fringe to mainstream
posted 10/29/2009, 3:29 PM (Reason) [Category: Economy] Rep. Ron Paul (R-Texas), the libertarian-leaning congressman and failed 2008 GOP presidential candidate, has been suspicious of the Federal Reserve since before first entering Congress in 1976. In a 1981 article that mentioned the then-obscure legislator, United Press International reported that Paul "has proposed abolishing the Federal Reserve, repealing laws which make the dollar legal tender, and switching to currency issued by banks, 100 percent backed by gold."
California Marijuana Ban Gets Legislative Review After 96 Years
posted 10/29/2009, 3:29 PM (Bloomberg) [Category: Economy] Oct. 28 (Bloomberg) -- California’s Assembly will consider lifting its 96-year-old ban on marijuana, decriminalizing the drug and taxing it like alcohol, as the state seeks ways out of its worst financial crisis since World War II.
The Assembly’s Public Safety Committee will discuss the social, fiscal and legal implications of legalizing and regulating marijuana in Sacramento today, said Quintin Mecke, a spokesman for Assemblyman Tom Ammiano.
Celente: Uniqueness is key in avoiding economic hardship
posted 10/29/2009, 3:21 PM (Daily Orange) [Category: Economy] World-renowned Trends Research Institute founder Gerald Celente predicted that the greatest economic depression yet will hit the world by the end of 2012. The slump may be inevitable, but there are ways to prepare for it.
Thomas Jefferson once said, "I find that the harder I work, the more luck I seem to have." During tough times, the average person will make quips for their lack of aptitude and instead take an optimistic approach toward the future. The worst thing you can say to ... (more)
One conclusive hallmark of a failed state is that the crooks are inside the government, using government to protect and to advance their private interests.
Another conclusive hallmark is rising income inequality as the insiders manipulate economic policy for their enrichment at the expense of everyone else.
World Currencies To Join In Race To The Bottom
posted 10/26/2009, 6:50 PM (Bob Chapman) [Category: Economy] The G-20 finance ministers meet in Scotland on November 6th and 7th, and they will all be bleating about the fall in the dollar. France started this week, and the others will follow. Their currencies are rising in value and they do not like it.
We expect other nations to follow, Mexico and Brazil in imposing a 2% tax on incoming funds and others will print their currencies and buy dollars to reduce the value of their currencies and at the same time buy US Treasuries that ar... (more)
“It’s clear where we’re headed,” says Niall Ferguson, author of The Ascent of Money. “Ten years from now there will be more than one international reserve currency,” he tells Tech Ticker.
Ferguson dismisses the dollar loyalists, citing the British pound "“ the last international reserve currency – as his example. “These things don’t last forever” but don’t expect it to happen overnight. “It’s a long multi-decade process,” ... (more)
Monday October 19th, 2009
Global banking body may be needed-FSA
posted 10/19/2009, 10:14 AM (Reuters) [Category: Economy] LONDON (Reuters) - A global body with legal powers may be needed over time to enforce the world's new financial rules, the Financial Services Authority (FSA) said on Wednesday.
The FSA's newly appointed and first director of international affairs, Verena Ross, said the Financial Stability Board (FSB) was key to ensuring all gaps in regulation between securities, insurance and banking sectors were plugged.
Formerly known as the Financial Stability Forum, the FSB was ... (more)
Yes, we have desperate need to make the federal reserve counterfeit money printing machine be global in scope with absolutely no means for escape, thank you unelected world government body.
The Wall Street giant's 5,500 London staff can look forward to record average payouts of around £500,000 each at the end of the year from a global pot of £14 billion, the Standard has learned.
Senior executives working at the bank's European headquarters in Fleet Street will get bonuses of several million pounds each with the highest paid as muc... (more)
JPMorgan profit rises 7-fold
posted 10/15/2009, 9:14 AM (Bloomberg) [Category: Economy] JPMorgan Chase & Co, the second- largest US bank by assets, said profit in the third quarter soared almost sevenfold, beating analysts' estimates, as fixed- income revenue surged.
Earnings climbed to $3.59 billion, or 82 cents a share, from $527 million, or 9 cents, in the same period a year earlier at the height of the financial crisis, the New York-based company said on Wednesday in a statement. Last year's quarter included $640 million of losses tied to the takeover of Washingt... (more)
According to a new report, the number of homeless people sleeping in New York City shelters has reached an all time high at 39,000 -- many of them are children.
Using New York City's own data, a homeless group claims a record number of people are in city shelters, particularly children, despite years of programs that were supposed to bring homeless numbers down. But perhaps the bes... (more)
In a sign that more banks are under great pressure from the recession, 34 financial institutions did not pay their quarterly dividends in August to the Treasury on funds obtained under the Troubled Asset Relief Fund (TARP). The number almost doubled from 19 in May when payments were last made, and also raised questions about Treasury's judgment in approving these banks as "healthy," a necessary step for the... (more)
Rogers' confidence gold will continue to rally stems from a view the U.S. dollar is on its way to losing status as the world's reserve currency.
"Is it going to happen? Yes," Rogers says. "I don't like saying it [and] I'm extremely worried about it but we have to deal with the facts. America is not getting better [and] the dollar is going to be replaced just like pou... (more)
In light of the ever-present and unyieldingly persistent exclamations of ‘an end’ to the recession, a ‘solution’ to the crisis, and a ‘recovery’ of the economy; we must remember that we are being told this by the very same people and institutions which told us, in years past, that there was ‘nothing to worry about,’ that ‘the fundamentals are fine,’ and that there was ‘no danger’ of an ... (more)
The demise of the dollar
posted 10/13/2009, 2:10 AM (The Independent) [Category: Economy] In the most profound financial change in recent Middle East history, Gulf Arabs are planning – along with China, Russia, Japan and France – to end dollar dealings for oil, moving instead to a basket of currencies including the Japanese yen and Chinese yuan, the euro, gold and a new, unified currency planned for nations in the Gulf Co-operation Council, including Saudi Arabia, Abu Dhabi, Kuwait and Qatar.
Secret meetings have already been held by finance ministers and central bank ... (more)
Saturday October 3rd, 2009
Good news on environment, but can it last?
posted 10/03/2009, 3:39 PM (Reuters) [Category: Economy] WASHINGTON (Reuters) - There's nothing like a recession to help clear the air of toxins and drive down pump prices -- but we all know it can't last. Or can it?
Even some of the gloomier environmental prognosticators see the world's steep recession possibly prompting a lasting shift in consumer behavior that could form the basis of a more sustainable environment.
As nations haggle about how to battle climate change, global greenhouse gas emissions are in sharp retrea... (more)
Do you see how they did this? You being busto is now "good for the environment."
The Century of the Self: The Untold History of Controlling the Masses Through the Manipulation of Unconscious Desires
Operation Gladio: "One of the most secret programs that ever existed"
The Money Masters: How International Bankers Gained Control of America
San Jose State economics professor 
Introduction
Oregon voters bucked decades of anti-tax and anti-Salem sentiment Tuesday, raising taxes on corporations and the wealthy to prevent further erosion of public schools and other state services.
Washington (CNN) -- Nearly three out of four Americans think that at least half of the money spent in the federal stimulus plan has been wasted, according to a new national poll.
The 10 major cities in the Standard & Poor’s/Case-Shiller home price index have risen 5% from their April low, but the index is still predicting a massive 45% fall from today’s values.
The U.S. taxpayers' investments in smaller banks are increasingly at risk.
War is Peace, Freedom is Slavery, Ignorance is Strength, and Debt is Recovery
In the most profound financial change in recent Middle East history, Gulf Arabs are planning – along with China, Russia, Japan and France – to end dollar dealings for oil, moving instead to a basket of currencies including the Japanese yen and Chinese yuan, the euro, gold and a new, unified currency planned for nations in the Gulf Co-operation Council, including Saudi Arabia, Abu Dhabi, Kuwait and Qatar.
The age of the killer robot is no longer a sci-fi fantasy
Top Obama czar: Infiltrate all 'conspiracy theorists'
Shocking H1N1 Swine Flu Vaccine Miscarriage Stories From Pregnant Women
Unbelievable: Government Hijacks Kids TV To Propagandize For Swine Flu Shots
Government Propaganda To Infest Network TV Shows 
One bank to rule them all: UN wants new global currency to replace dollar
The $531 Trillion Dollar Derivatives Time Bomb
German health expert's swine flu warning: Does virus vaccine increase the risk of cancer?
The Pentagon Wants Authority to Post Almost 400,000 Military Personnel in U.S.