Aug 03

Hayes

LIBOR Scapegoat Found Guilty, Sentenced To 14 Years (ZeroHedge, Aug 3, 2015):

Update: Hayes has been sentenced to 14 years in jail.

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Tom Hayes, the former UBS trader standing trial for his role in manipulating LIBOR, was found guilty on eight counts in a London court. The jury, which deliberated for a week, was unanimous in its decision. To wit, from Bloomberg:

Former UBS Group AG and Citigroup Inc. trader Tom Hayes, the first person to stand trial for manipulating Libor, was found guilty of eight counts of conspiracy to rig the benchmark rate. Continue reading »

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Aug 02

Illuminati (the Rothschilds and the other 12 elite families) control America and they are calling the shots.

America is just being used, or better abused, to fulfill their agenda.

History is repeating itself.

And again … We Are On Our Own

George Carlin sums it up best:

George Carlin: The American Dream (Video):


Continue reading »

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Aug 01

Wealth Effect

Revolving Door on Steroids – New Bank of England Policymaker Allowed to Retain Financial Interest in Hedge Fund (Liberty Blitzkrieg, July 31, 2015):

Can’t a guy enjoy a beautiful Friday in Colorado without being bombarded with another gigantic oligarch scam? I guess not.

Today’s article takes the revolving door theme to a whole other level. It even puts the recent revelation that law firm Covington and Burlington kept an office empty for Eric Holder while he was head of the Department of Justice to shame. You can’t make this stuff up.

From Reuters:

New Bank of England policymaker Gertjan Vlieghe will retain a financial interest in one of the world’s biggest hedge fund firms while he sets interest rates, an arrangement that Britain’s finance ministry said posed no conflict of interest. Continue reading »

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Jul 31

deutsche_ceos-2


 

Deutsche Bank “Loses” LIBOR Chat Records; Will Try Hard To Find Them (ZeroHedge, July 31, 2015):

Back in April, Deutsche Bank agreed to pay $2.5 billion (or around $25,475 per employee) to the DoJ, the CFTC, the NY Department for Financial Services, and the UK’s FCA in connection with the bank’s role in the global conspiracy to rig LIBOR (and EURIBOR, and TIBOR, but who’s counting). The fine marked the largest LIBOR-related settlement thus far but as usual, regulators stopped short of insisting that the actual human beings responsible for the manipulation of a benchmark upon which trillions in financial assets are based be put behind bars. In other words, no people were held accountable.

That said, we got a faint glimmer of hope on the accountability front when, late last month, FT reported that the German financial watchdog BaFin was looking into whether (former) co-CEO Anshu Jain lied to the Bundesbank about when he first learned that his traders and submitters might have been involved in fixing the LIBOR fixes.  Continue reading »

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Jul 30

Why Wall Street Loves Hillary

How UBS Sent Millions to the Clintons After Hillary Saved the Mega Bank While Secretary of State (Liberty Blitzkrieg, July 30, 2015):

A few weeks after Hillary Clinton was sworn in as secretary of state in early 2009, she was summoned to Geneva by her Swiss counterpart to discuss an urgent matter. The Internal Revenue Service was suing UBS AG to get the identities of Americans with secret accounts.

If the case proceeded, Switzerland’s largest bank would face an impossible choice: Violate Swiss secrecy laws by handing over the names, or refuse and face criminal charges in U.S. federal court.

Within months, Mrs. Clinton announced a tentative legal settlement—an unusual intervention by the top U.S. diplomat. UBS ultimately turned over information on 4,450 accounts, a fraction of the 52,000 sought by the IRS, an outcome that drew criticism from some lawmakers who wanted a more extensive crackdown.

From that point on, UBS’s engagement with the Clinton family’s charitable organization increased. Total donations by UBS to the Clinton Foundation grew from less than $60,000 through 2008 to a cumulative total of about $600,000 by the end of 2014, according the foundation and the bank.

The bank also joined the Clinton Foundation to launch entrepreneurship and inner-city loan programs, through which it lent $32 million. And it paid former president Bill Clinton $1.5 million to participate in a series of question-and-answer sessions with UBS Wealth Management Chief Executive Bob McCann, making UBS his biggest single corporate source of speech income disclosed since he left the White House.

– From today’s Wall Street Journal article: UBS Deal Shows Clinton’s Complicated Ties

The best part about Hillary Clinton’s run for the Presidency, is the endless series of scandals and shadiness that inevitably comes along with being part of an entrenched status quo family that prioritizes the accumulation of wealth and power above all else. The reason Barack Obama was able to generate so much genuine “hope” prior to his election is 2008, is because he was a complete unknown. He could say all the right things, and it was easy for people to believe the hype. Continue reading »

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Jul 29

federal-reserve-quantitaive-easing-printing-money

Banks Squirm as Congress Moves to Cut the 6% Dividend Paid to Them by the Federal Reserve (Liberty Blitzkrieg, July 29, 2015):

On December 23 of this year, the Federal Reserve will be 99 years old.  And throughout that 99 years, regardless of boom, bust, recession or Great Depression, the biggest Wall Street banks have been enjoying a 6 percent, risk-free return on the capital they hold at the Fed in the form of dividends.

Have you looked at your checking or money market bank statement lately from JPMorgan Chase or Citibank? How about the statement showing the interest you’re earning on your mortgage escrow account with the big banks? While the country suffers through the lingering effects of the Great Recession caused by the biggest Wall Street banks, the public typically receives less than 1 percent on their deposits at the big banks, while the government has legislated a permanent, risk-free 6 percent guarantee to the Wall Street banks for their capital on deposit at the Fed.  Now that’s an entitlement program that needs to die!

This corporate welfare program gets even better: if the shares of stock were acquired prior to March 28, 1942, the 6 percent risk-free dividend is tax exempt and the bank doesn’t have to pay corporate taxes on it.

– From the excellent 2012 Wall Street on Parade article: Kill This Entitlement Program: The 6% Risk-Free Dividend the Fed Has Been Paying Wall Street Banks For Almost a Century

Did you know that the Federal Reserve pays an annual 6% dividend to its shareholders, i.e., the member banks of the cartel? Must be nice, considering savers who had nothing to do with cratering the world economy, and failed to receive a taxpayer funded bailout, can barely earn 0.5% on their money. It’s also quite bizarre. How many other “public institutions” have private shareholders to whom they pay 6% risk free dividends? Continue reading »

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Jul 26

–  Greek Capital Controls To Remain For Months As Germany Pushes For Bail-In Of Large Greek Depositors (ZeroHedge, July 26, 2015):

Two weeks ago we explained why Greek banks, which Greece no longer has any direct control over having handed over the keys to their operations to the ECB as part of Bailout #3’s terms, are a “strong sell” at any price: due to the collapse of the local economy as a result of the velocity of money plunging to zero thanks to capital controls which just had their 1 month anniversary, bank Non-Performing Loans, already at €100 billion (out of a total of €210 billion in loans), are rising at a pace as high as €1 billion per day (this was confirmed when the IMF boosted Greece’s liquidity needs by €25 billion in just two weeks), are rising at a pace unseen at any time in modern history. Continue reading »

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Jul 25


Jul 23, 2015

Description:

In this Keiser Report Max Keiser and Stacy Herbert discuss the fact that life’s but a walking shadow, a poor homeless schmuck that struts and frets his squeegee upon thy windshield, and then is heard no more. It is a tale told by an idiot tabloid, full of sound and fury, signifying nothing. In the second half Max interviews Michael Krieger of LibertyBlitzkrieg.com about #BankersLivesMatter and the two-tier justice system in America in relation to bankers and their crimes. They also ask, “where is Eric Holder now? Hmmm, I wonder.”

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Jul 25

Kremlin to Seize Foreign Assets in Response to Frozen Russian Capital

Kremlin to Seize Foreign Assets in Response to Frozen Russian Capital (Sputnik, July 24, 2015):

The Russian government’s Commission on Legislative Affairs approved a bill that would allow Russia to seize foreign state assets without consulting them.

According to the new bill, Russia will be able to seize foreign state assets from countries that would infringe Russia’s jurisdictional immunity.

The Ministry of Justice said the new law is to bring parity on the existing “jurisdictional imbalance” between Russia and other countries. In other words, Russia will now seize the state assets of other countries in proportion to the amount of Russian assets frozen in those countries. Continue reading »

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Jul 24

GRouNDHoGS AND PoNZiS...

Fed “Accidentally” Released Dovish Confidential Market-Moving Forecasts, Blames “Glitch”  (ZeroHedge, July 24, 2015):

First The ‘unaudited’ Fed leaks its FOMC minutes. Then they leak ‘inside-information’ to Nikkei’s latest addition, Medley Global advisors (and remain “above the law” with regard consequences. And now, The Fed admits it leaked full blown confidential economic projections (due to a code glitch), whose summary assessment is shown below as per the leaked file.

groundhogs-and-ponzis2

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Jul 24

In Latest Market Rigging Scandal, Wall Street Now Sued For Treasury Market Manipulation (ZeroHedge, July 24, 2015):

“Defendants used electronic chatrooms, instant messaging, and other electronic and telephonic methods to exchange confidential customer information, coordinate trading strategies.”

“Traders at some of these primary dealers talked with counterparts at other banks via online chatrooms and swapped gossip.”

Sound familiar?

Those quotes are from a 61-page complaint filed in the Southern District of New York wherein Boston’s public sector pension fund accuses all US primary dealers (the cabal of usual suspect dealer banks that transact directly with Treasury and “have a special obligation to ensure the efficient function” of what was formerly the deepest, most liquid market on the planet) of colluding to manipulate the $12.5 trillion US Treasury market.  Continue reading »

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Jul 22

Ongoing Greece Deposit Run Forces ECB To Boost Greek ELA Ceiling Yet Again (ZeroHedge, July 22, 2015):

Despite the imploring of Greek bankers for Greeks to “take your money out of your chests and houses – which are not safe in any case – and deposit at banks,” it appears the Greek bank deposit run continues. As The ECB just announced another €900 million increase in Emergency Liquidity Assistance, strongly suggesting that in the 2 days since the last increase, banks are once again insolvent facing a liquidity crunch as the “banks are trustworthy” propaganda falls on very deaf Greek ears.

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Jul 22

Define Irony: Greek Banks Refuse To Buy ESM Bonds To Fund Greek Bailout (ZeroHedge, July 21, 2015):

In the latest example of what happens when circular funding schemes begin to trip over each other, National Bank of Greece has refused to participate in an auction for paper issued by the bailout fund which is set to recapitalize the Greek banking sector.

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Jul 21

rofl

Greeks Laugh As Bankers Beg Depositors To Return Money (ZeroHedge, July 21, 2015):

Banks Union appeals to Greeks to return their money to banks (Keep Talking Greece, July 20, 2015):

President of Greek Banks Association Louka Katseli appealed at the citizens to return their money to the banks. “Banks are absolutely trustworthy,” Katseli told Mega TV “as guaranteed by the ECB and the Bank Association, but they would have been even more powerful if 40 billion euros had not been withdrawn in the last months.

Katseli, a former PASOK Minister, appealed to citizens to return their deposits  to the banks “now that the banks are open” after a three-week holiday and capital controls.

“Let’s all help our economy,” Katseli urged Greeks and added “If you take your money out of your chests and houses – which are not safe in any case – and deposit at banks, this will enhance liquidity.”

“There will be no need to “haircut” deposits in the future if we all act responsibly,” she added -cheerfully I suppose.

Katseli’s appeal triggered laughter among Greeks and one stressed with hint to capital controls “Oh yes! I will bring my money back to the bank and get it back 60 by 60 euro.”

Another one noted “Ah sure! Banks will never see my money again, I prefer to buy tonnes of peanuts with it.”

Continue reading »

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Jul 18

illuminati-banker

All Hail Our Banking Overlords! (Peak Prosperity, July 18, 2015):

You really have to be paying attention to see what’s truly going on these days. The keepers of the system, that is the banking elites, now openly control everything — though you’d never know that by listening to the media.

Consider this:

Eurozone backs €7bn bridging loan

Jul 16, 2105

Eurozone ministers have agreed to give Greece a €7bn (£5bn) bridging loan from an EU-wide fund to keep its finances afloat until a bailout is approved.

The loan is expected to be confirmed on Friday by all EU member states.

In another development, the European Central Bank (ECB) agreed to increase emergency funding to Greece for the first time since it was frozen in June.

The decisions were made after Greek MPs passed tough reforms as part of a eurozone bailout deal.

How generous of the finance ministers of all those EU member states to agree to a “bridge loan” that will help Greece “keep its finances afloat”. This should provide the people of Greece with a bit of breathing room, right? Maybe access to their bank accounts (finally!), perhaps?

No, not at all. Here’s what the entirety of the “”loan”” will go towards instead:

The bridging loan means Greece will be able to repay debts to the ECB and IMF on Monday.

Ummmm…that “money” will not ever go anywhere near Greece. Continue reading »

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Jul 17

Greek Banks Will Not Re-Open Monday Even As Loan To Repay ECB Approved (ZeroHedge, July 17, 2015):

The timing could not be worse from a visual perspective but within minutes of the Eurogroup confirming that they approved the €7.16 billion bridge loan (which will merely be recycled back to The ECB to ensure the appearance of normalcy continues), local reports note that the Greek finance ministry says banks will not re-open on Monday (as promised).

The elites get their money… Continue reading »

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Jul 16

To Big To Jail

“Bank Lives Matter” – Obama Administration Makes Another Move to Protect Profits of Criminal Mega Banks (Liberty Blitzkrieg, July 16, 2015):

Three top Democrats are accusing the Department of Housing and Urban Development of quietly removing a key clause in its requirements for taxpayer-guaranteed mortgage insurance in order to spare two banks recently convicted of federal crimes from being frozen out of the lucrative market.HUD’s action is the latest in a series of steps by federal agencies to eliminate real-world consequences for serial financial felons, even as the Obama administration has touted its efforts to hold banks accountable.

– From the Intercept article: Obama Administration Finds New Way to Let Criminal Banks Avoid Consequences

Two days ago, I highlighted a feel-good story about how officials in Santa Cruz County decided to take mega bank criminality into their own hands by voting to cease business relationships with five criminal TBTF mega banks. Here’s an excerpt from the post, Santa Cruz County Votes to Cease Doing Business with Five TBTF Mega Banks: Continue reading »

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Jul 16

Deutsche Bank Stunner: An Inside Look At Former CEO’s Role In Liborgate (ZeroHedge, July 16, 2015):

“Mr. Jain created an environment by the physical and functional restructuring of the business GFFX division in the year 2005, involving also a change in the seating order of the trading floor in London which he initiated in which conflicts of interest between traders and submitters arose or were strengthened. There is suspicion that Mr. Jain might have knowingly made incorrect statements in his IBOR related Interview with the Deutsche Bundesbank.”

 

 

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Jul 15

Santa Cruz County Votes to Cease Doing Business with Five TBTF Mega Banks3

Santa Cruz County Votes to Cease Doing Business with Five TBTF Mega Banks (Liberty Blitzkrieg, July 14, 2015):

This is impressive. Very, very impressive.

It appears that Ryan Coonerty, the Supervisor of the Third District of Santa Cruz County, wrote a letter back in June to the rest of the Board of Supervisors, in which he bravely pleaded the county cease business operations with five of the TBTF Wall Street Mega Banks. Why you ask? Well, because they are criminal felons. Considering Eric Holder refused to punish them (see: Cronyism Pays – Eric “Too Big to Jail” Holder Triumphantly Returns to His Prior Corporate Law Firm Job), someone has to take a stand.

Here are a few choice excerpts from the letter: Continue reading »

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Jul 15

FYI.



Jul 14, 2015

Description: Continue reading »

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