Oct 12

- The $70 Trillion Problem Keeping Jamie Dimon Up At Night (ZeroHedge, Oct 11, 2014):

Yesterday, in a periodic repeat of what he says every 6 or so months, Jamie Dimon – devoid of other things to worry about – warned once again about the dangers hidden within the shadow banking system (the last time he warned about the exact same thing was in April of this year). The throat cancer patient and JPM CEO was speaking at the Institute of International Finance membership meeting in Washington, D.C., and delivered a mostly upbeat message: in fact when he said that the industry was “very close to resolving too big to fail” we couldn’t help but wonder if JPM would spin off Chase or Bear Stearns first. However, when he was asked what keeps him up at night, he said non-bank lending poses a danger “because no one is paying attention to it.” He said the system is “huge” and “growing.” Dimon is right that the problem is huge and growing: according to the IMF which just two days earlier released an exhaustive report on the topic, shadow banking (which does not include the $600 trillion in notional mostly interest rate swap derivatives) amounts to over $70 trillion globally.

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Oct 11

Former Fed Chairman Edward Quince. Or is it Ben Bernanke
Former Fed Chairman Edward Quince. Or is it Ben Bernanke?

Meet Edward Quince, the Secret Federal Reserve Chairman in 2008 (Wall Street Journal, Oct 9, 2014):

Edward Quince was arguably the most powerful person in the world in the fall of 2008, with the fate of financial markets resting on his high-stakes decisions.

It turns out he didn’t actually exist.

Mr. Quince was the pseudonym then-Federal Reserve Chairman Ben Bernanke used on emails when he was conferring with colleagues during the financial crisis. The false name was revealed as evidence as part of a class-action lawsuit against the government by shareholders of American International Group Inc., which received a giant Fed-backed bailout as it teetered toward collapse. Continue reading »

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Oct 11

Former Fed Chairman Edward Quince. Or is it Ben Bernanke
Former Fed Chairman Edward Quince. Or is it Ben Bernanke?

- Meet The World’s First “Undercover, Super-Secret Central Banker” (ZeroHedge, Oct 9, 2014):

First a secret “Doomsday book“, and now this?

Flash back to those days in September 2008 when the financial system was on the verge of collapse and when first Lehman failed and then AIG was knocking on heaven’s door. While the story of the former has been written, it is the still incomplete history of the latter that is the reason why Hank Greenberg, the largest shareholder of AIG at the time, is suing the US government for bailing out AIG, alleging the US exorted shareholders when it provided a $182 billion bailout to the insurance company whose Joseph Cassano had seemingly sold insurance on every insolvent mortgage-related security: a strategy which worked in a rising market and led to a near systemic catastrophe when the market crashed.

We won’t debate the merits of Greenberg’s lawsuit, which is currently raging in court under STARR INTERNATIONAL COMPANY V. UNITED STATES, U.S. Court of Federal Claims 11-cv-00779 (it should be painfully clear by now that neither AIG nor crony capitalism as it exists now would have survived had Goldman and its NY Fed branch not extended several trillion in taxpayer funds to preserve the status quo), however we will note one thing: recall that when the terms of the AIG bailout first made waves in 2010 courtesy of Darrell Issa we found out something pecliar: none of the members of the Fed had any intentions on making their procedure public. Continue reading »

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Oct 09

And yes, TPTB are testing who is exposing them and is standing up to them.

FYI.



06.10.2014

Description:

V, the Guerrilla Economist, walks us through the labyrinth of the current economic crisis – yes, there is one, and gives us possible dominoes that might fall first, an event or series of events that will ultimately bring down the U.S. Dollar.The Guerrilla Economist, who has a proven near perfect accuracy rate, is the founder and operator of his website, Rogue Money at www.RogueMoney.net. We’ll explore the proxy war going on between Russia (and China) versus the United States, and how this proxy war is laying the groundwork for a potential shooting war, or WW III. Sound ominous? It is, more than most people realize. The Guerrilla Economist will also discuss the Silver and Gold manipulation, and where both metals are expected to be trading in the next 3, 6, 12 and 18 months. Also, Mike Rosecliff will be interviewed with the Guerrilla.

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Oct 09

- Russia Central Banks Scrambles To Halt Plunging Ruble, Spends Over $2 Billion In Last Three Days As Inflation Soars (ZeroHedge, Oct, 8, 2014):

Recently, not a day passes without the Russian Ruble hitting new record lows against the US Dollar due to a combination of both capital outflows from Russia, tumbling prices of crude – Moscow’s most important export – which deteriorates Russia trade and current account position, coupled with the most acute USD strengthening in history in the past few months over fears of a tightening Fed.

Yet for whatever the reason, after stoically ignoring the impact of its tumbling currency on the domestic economy (and as a reminder, Japan would kill for a currency collapse of this magnitude: just think of the “economic renaissance” that would result if only Abenomics was right about killing your currency leading to growth… which it isn’t), the Kremlin is finally starting to feel the pinch leading to the biggest central bank intervention in FX markets since the start of the Ukraine campaign, buying Rubles for a third consecutive day at an amount of over $2 billion, with $1.75 billion purchased in the first two days of the current intervention attempt, and another $420 million in foreign currencies sold overnight according to Bank of Russia data. Continue reading »

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Oct 07

SWIFT Announces It “Regrets The Pressure” To Disconnect Russia (ZeroHedge, Oct 6, 2014):

With ever louder chatter that the west will force Russia to exit the global currency messaging and interchange service that is SWIFT – essentially locking it out of transacting in “developed” currencies – and with correspondingly louder retorts by Russia that it is prepared and would welcome such a move as it would merely force it to abandon the petrodollar and allign even closer with China, there was one entity whose take on the matter had been largely ignnored. SWIFT itself. Surprisingly, in a press release issued this morning,the member-owned cooperative, reveals that not only has it received “calls to disconnect institutions and entire countries from its network – most recently Israel and Russia”, but that it regrets “the pressure” as the “surrounding media speculation, both of which risk undermining the systemic character of the services that SWIFT provides its customers around the world.”

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Oct 05

- JPMorgan hack exposed data of 83 mln, among biggest breaches in history (Reuters, Oct 2, 2014):

Oct 2 (Reuters) – Names, addresses, phone numbers and email addresses of the holders of some 83 million households and small business accounts were exposed when computer systems at JPMorgan Chase & Co were recently compromised by hackers, making it one of the biggest data breaches in history.

The bank revealed the scope of the previously disclosed breach on Thursday, saying that there was no evidence that account numbers, passwords, user IDs, birth dates or Social Security numbers had been stolen.

It added that it has not seen “unusual customer fraud” related to the attack which exposed contact information for 76 million households and 7 million small businesses. Continue reading »

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Oct 05


Sep 17, 2014

Description:

“Corruption, greed and economic inequality have reached a peak tipping point,” writes David Degraw. “Due to the consolidation of wealth, the majority of the population cannot generate enough income to keep up with the cost of living. In the present economy, under current government policy, 70% of the population is now sentenced to an impoverished existence.”

In this special 3rd anniversary of Occupy Wall St. edition of Acronym TV, David DeGraw sits down with Dennis Trainor, Jr.

David’s new book, The Economics of Revolution, is now available from DavidDeGraw.org.

DeGraw, who is advocating for a guaranteed income for all US residents, states: “If people could just wrap their head around the fact that we have over $94 Trillion in wealth in the United States, I think we would have a revolution overnight. It has gotten to the point where it would only take 0.5% of the 1%’s wealth to eliminate poverty nationwide.”

About the guest |
David DeGraw is an author and an organizer. An early organizer with Occupy Wall Street, David is credited by many as starting the We Are the 99% meme that launched a movement. He is an independent investigative journalist. In February 2010, DeGraw published a book called “The Economic Elite Vs. The People of the United States of America.” The last section of the book was a call to action, using the concept of 99 percent of American income earners.

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Oct 03


30.06.2014

Sorry for the drama, just trying to do right by our listeners.. Here’s the original interview with a short caveat. The interview begins at 6:05.

Karen Hudes, the Acting General Counsel of the World Bank joins us to discuss the impending collapse of the international criminal banking cartel which Karen says is “imminent”. We discuss the worldwide BOND FRAUD, the 9/11 false flag event, and the fact that Karen says China isn’t bankrupting the FED, we are. The American people and a U.S. DEBT-FREE currency will rise from the ashes after the FEDERAL RESERVE and the FEDERAL RESERVE NOTE collapse – and that day is right around the corner.

Karen’s site:
http://kahudes.net/

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Sep 30

It is said that 80% of the New York Fed is owned by just 8 families:

Goldman Sachs, Rockefeller, Lehman, Kuhn Loeb, Rothschild, Warburg, Lazard and Israel Moses Seif.


- Smoking Gun Evidence That The New York Fed Serves The Interests Of Goldman Sachs (Economic Collapse, Sep 29, 2014):

For years, many people have suspected that the New York Fed is more or less controlled by the “too big to fail” banks.  Well, now we have smoking gun evidence that this is indeed the case.  A very brave lawyer named Carmen Segarra made a series of audio recordings while she was working for the New York Fed.  The 46 hours of meetings and conversations that she recorded are being called “the Ray Rice video for the financial sector” because of the explosive content that they contain.  What these recordings reveal are regulators that are deeply afraid to do anything that may harm or embarrass Goldman Sachs.  And it is quite understandable why Segarra’s colleagues at the New York Fed would feel this way.  As a recent Bloomberg article explained, it has become “common practice” for regulators to leave “their government jobs for much higher paying jobs at the very banks they were once meant to regulate.”  If you think that there is going to be a cushy, high paying banking job for you at the end of the rainbow, you are unlikely to do anything that will mess that up.

To say that the culture at the New York Fed is “deferential” to big banks such as Goldman Sachs would be a massive understatement. Continue reading »

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Sep 29

- Revealed – the Troika threats to bankrupt Ireland (The Irish Independent, Sep 28, 2014):

Honohan: ECB officials agreed to threaten Ireland with bankruptcy if the government tried to burn bondholders

The threat was made at a high-level teleconference meeting, details of which have been revealed for the first time by the Central Bank governor, Dr Patrick Honohan.

Mr Honohan, who famously told the nation Ireland would be entering the Troika bailout programme live on radio as government ministers were publicly denying it, also revealed he was kept out of loop about the meeting. Continue reading »

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Sep 29

Suicide-Banker-Blankfein-Goldman-Sachs


- “I Am Putting Everything In Goldman Sachs Because These Guys Can Do Whatever The Hell They Want”  (ZeroHedge, Sep 28, 2014):

If you can’t beat it, may as well bid it. That, at least, is the take home lesson to Nanex’ Eric Hunsader who says that after listening to the “Goldman Tapes” I’m putting everything in GS – because these guys can do whatever the hell they want“…

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Sep 29

Sept. 25 (Bloomberg) — Former Budget Director Under President Reagan David Stockman discusses central banks monetary policies and financial bubbles on “Market Makers.”

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Sep 29

“There is a principle which is a bar against all information, which is proof against all arguments, and which cannot fail to keep a man in everlasting ignorance – that principle is contempt prior to investigation.”
– Herbert Spencer (William Paley according to Wikiquote)


- Great Historical Quotes (TrueWorldHistory):

If you read these in order, they tell a story…

“Who controls the past controls the future. Who controls the present controls the past.” – George Orwell

“One of the penalties for refusing to participate in politics is that you end up being governed by your inferiors.” – Plato

“Just because you do not take an interest in politics doesn’t mean politics won’t take an interest in you.” – Pericles Continue reading »

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Sep 29

… has been working for the Rothschild’s.

Both families were living in the same house in Frankfurt.


Full article here:

JACOB SCHIFF: THE MOST INFLUENTIAL MAN IN U.S. HISTORY:

A reader asks, “Mike, all roads eventually lead to the Rothschilds of Europe; but who do you think was the most powerful Jew in American history?”

Upon first thought, that almost seems like asking who the greatest baseball player of all time was. Was it Ruth? Gehrig? DiMaggio? Williams? Mays? Mantle? Bonds? (pre & post steroids) There are so many deserving candidates that it appears impossible to say with absolute certainty.

A strong case for the MVZ Award (Most Valuable Zionist) can be made for Paul Warburg, Bernard Baruch, Adolph Ochs, William Paley, Eugene Meyer, Arthur Hays Sulzberger, David Sarnoff, Jack Warner, Carl Laemmle, Henry Morganthau, George Soros, Henry Kissinger, Sumner Redstone, Michael Eisner and a few others. Just ‘Google’ each of those names and marvel at the power which the chosen ones have wielded over the last century. And although they weren’t Jews, the Rockefellers and Morgans were not lacking in political-economic muscle either. Continue reading »

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Sep 28


Mar 3, 2014

William Black is an associate professor of economics and law at UMKC. He has held many prestigious positions, including executive director for Fraud Prevention. He recently helped the World Bank develop anti-corruption initiatives and served as an expert for OFHEO in its enforcement action against Fannie Mae’s former senior management. He is a criminologist and former financial regulator.

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Sep 27


Sep 26, 2014

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Sep 27

H/t reader squodgy:

“They are criminals, pure and simple.

The people are victims of manipulated news so what would be true reactions are dumbed down.

However, the Icelandics have successfully prosecuted their crimals, but surprise surprise, nothing in the MSM on this…..”


- Iceland: Bankers convicted, unemployment down (Angry Bear, Sep 26, 2014):

Remember Iceland? During the high-flying early 2000s, its three main banks went berserk, paying high interest rates to international investors that accumulated deposits equal to more than 100% of the country’s gross domestic product (GDP) and making loans equal to 980% of GDP. When the collapse came, Iceland took a route not taken by Ireland, Spain, and other EU countries: Rather than bail out the banks, the government simply let them go bankrupt. The value of the krona fell by about half, the country was embroiled in disputes with the Netherlands and the United Kingdom over paying off Dutch and British depositors, and it had to take an International Monetary Fund (IMF) loan just to stay afloat. Continue reading »

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Sep 26

- How Goldman Controls The New York Fed: 47.5 Hours Of “The Secret Goldman Sachs Tapes” Explain (ZeroHedge, Sep 26, 2014):

When nearly a year ago we reported about the case of “Goldman whistleblower” at the NY Fed, Carmen Segarra, who alleged she was wrongfully terminated after she flagged “numerous conflicts of interest and breaches of client ethics [involving Goldman] that she believed warranted a downgrade of Goldman’s regulatory rating” and which were ignored due to the intimate, and extensively documented on these pages, proximity between Goldman and either one-time NY Fed Chairman and former Goldman director Stephen Friedman or current NY Fed president and former Goldman employee Bill Dudley, we said: Continue reading »

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Sep 23


Jun 10, 2014

See also:


Sep 24, 2013

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Sep 23


Oct 15, 2013

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Sep 22

- Russia FinMin Calls For Shift Away From US Treasurys Into BRIC Bonds, Settlement In Non-Dollar Currencies (ZeroHedge, Sep 20, 2014):

it was Russia’s finance minister Anton Siluanov who was the designated “bad guy”, and as the WSJ reported, Russia is considering diversifying its debt portfolio away from countries that have imposed sanctions on Moscow and into the papers of its BRICS partners. Speaking on the sidelines of an annual investment forum in the Black Sea town of Sochi, Mr. Siluanov said the Finance Ministry wants to diversify its investment basket, and is looking for higher yields without too much risks. He said the ministry will consider buying papers issued by Brazil, India, China and South Africa, which along with Russia are known collectively as the Brics countries. “[We would like to] walk away from investing in papers of the countries that impose sanctions against us,” Mr. Siluanov said, adding that the reshuffle would be carried out gradually. He didn’t elaborate on when the first purchases of Brics debt may take place.

 

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Sep 22

Quantitative Proof The Illuminati Banksters Are Deliberately Destroying The Middle Class


Federal-Reserve-Bernanke1

- Quantitative Proof The Fed Is Destroying The Middle Class (Voices of Liberty, Sep 19, 2014):

Listening to pundits on television, one would think we’ve found a magical species of leprechauns that piss gold rainbows amongst the masses and so we need never again worry about the economy, the markets and whether or not things are improving. And looking at the market’s six-year run to all-time highs, perhaps such euphoria is warranted.

I mean, isn’t the market supposed to be a highly efficient gauge of the underlying economy? The market is a function of expected future cash flows based on demand, supply and productivity. If true, and if the market is at all-time highs, then things must be good, correct? Continue reading »

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Sep 21

Related info:

- Top Financial Experts Say World War 3 Is Coming … Unless We Stop It

- Jim Rickards: ‘It Could Be A Failure To Deliver Physical Gold,’ ‘Physical Gold Is Disappearing, There’s A Mountain of Paper Gold . . . So A Failure to Deliver Could Cause Panic Buying of Gold.’

- Jim Rickards & The Euro Gold Standard: ‘Sorry, You (Banksters) Played, You Lost’ (Video)

- James G. Rickards of Omnis Inc.: Get Your Gold Out Of The Banking System


- ‘World in indefinite depression’ (RT, Sep 19, 2014):

We are in global depression which started in 2007 and is going to continue indefinitely, Jim Rickards, economist and author of “Currency Wars: The Making of the Next Global Crisis,” told RT.

China’s central bank is injecting a combined 500 billion Yuan into the country’s top banks – a move signaling the deep concerns of an economic slowdown in China. A downturn in China`s economy, as investment is scaled back in Chinese real estate, has prompted economists to forecast further financial defaults and slowing economic growth in the second half of the year. Will this monetary easing fix China’s short-term problem and put it back on the path to prosperity in the long-term? Erin from “Boom Bust” asked economist, Jim Rickards, in her show. Continue reading »

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Sep 18

Related info:

- ‘Moderate’ Syrian Rebels Sign Non-Aggression Pact With ISIS; Iraq Defies US


House Votes To Fund Arms To Moderate (For Now) Syrian Rebels (And Ex-Im Bank) – Live Feed (ZeroHedge, Sep 17, 2014):

*HOUSE HAS VOTES FOR U.S. AID TO SYRIAN REBELS; VOTE CONTINUING

Those sneaky politicians… The House has just begun voting on whether to amend the US Spending Bill to enable funding for Obama’s grand strategy of training “moderate Syrian rebels.

  • *SYRIAN REBEL AID IS PROPOSED AS AMENDMENT TO U.S. SPENDING BILL
  • *HOUSE BEGINS VOTE ON U.S. AID TO SYRIAN REBELS SOUGHT BY OBAMA

However, what few have also noticed is that the bill also includes an extension for funding the Export-Import bank.

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Sep 17

- Germany Issues 2Y Note At Record Low Yield Of -7bps (ZeroHedge, Sep 17, 2014):

Germany sold EUR 3.34 billion 2-year notes to a desparate-for-collateral, safe-haven-seeking, ECB QE-front-running, deflation-pricing market (with exceptional demand – an elevated 2.26x bid-to-cover) for a stunning -0.07% yield… an all-time record low yield issuance for Germany. We have nothing to add…

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Sep 17

How Banks Continue FX Rigging Right Under The SEC’s Noses (ZeroHedge, Sep 16, 2014):

The good news is that the rigging of the FX markets – now conspiracy fact, not conspiracy theory – has, according to Bloomberg, forced the world’s biggest banks to overhaul how they trade currencies to regain the trust of customers and preempt regulators’ efforts to force changes on an industry tarnished by allegations of manipulation with the “modernization of processes that probably should have been brought in 15 or 20 years ago.” However, the FX market is far from ‘clean’ as Bloomberg notes, while banks can limit access to details about client orders on their computer systems, they can’t keep employees from talking to one another. Some traders also are still communicating with clients and counterparts at other firms via Snapchat, circumventing their company’s controls right under the nose of the SEC. As one trader commented, “these [reform] changes look like fig leaves.”

As Bloomberg reports, positive changes are happening (on the surface)… Continue reading »

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Sep 17

Related info:

- Goldman’s Take On China’s “Stealth QE”:

“Domestic media (Sina) reported that the PBOC conducted RMB 500bn of Standing Lending Facility operations with the big 5 commercial banks (ICBC, BOC, BoCOM, CCB, ABC). The reports note that the duration is 3 months and the RMB 500 bn is evenly split among the banks. This amount is roughly the same as a 50 bps cut to RRR for the whole banking system on a static basis. There is no official confirmation from the PBOC yet. Still, such an easing would be consistent with our expectation that (1) monetary policy will loosened amid the drastic slowdown in activity growth and falling inflation, and (2) full scale RRR and interest rate cuts are unlikely because they would be viewed as aggressive stimulus.”

- What Happened After China’s Last “Stealth QE”?:

In a worrying sense of deja-vu all over again, today’s rip higher reflects perfectly the US equity market’s knee-jerk reaction to the last ‘Stealth QE’ from China on July 28th. That did not end well as hot money flowed out to the instantaneously “easiest” central bank in the world…

Markets React Violently To China’s Stealth QE:

From copper to high-yield credit and from stocks to bonds and gold, markets are reacting violently to the headlines from China that they are unleashing another 500bn Yuan “stealth QE”everything is rallying.. except the USD (biggest drop since May).


China Launches CNY500 Billion In “Stealth QE” (ZeroHedge, Sep 16, 2014):

It has been a while since the PBOC engaged in some “targeted” QE. So clearly following the biggest drop in the Shanghai Composite in 6 months after some abysmal Chinese economic and flow data in the past several days, it’s time for some more. From Bloomberg:

  • CHINA’S PBOC STARTS 500B YUAN SLF TODAY, SINA.COM SAYS
  • PBOC PROVIDES 500B YUAN LIQUIDITY TO CHINA’S TOP 5 BANKS: SINA
  • PBOC PROVIDES 100B YUAN TO EACH BANK TODAY, TOMORROW WITH DURATION OF 3 MONTHS: SINA

Just as expected, the Chinese “derivative” currency, the AUD, goes vertical on the news, and the S&P 500 goes vertical alongside: Continue reading »

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Sep 17

- Russia Central Bank Responds To Domestic Dollar Shortage, Starts Currency Swaps(ZeroHedge, Sep 16, 2014):

With the Ruble hitting record lows once again today against the USDollar, it appears concerns over USD liquidity are growing in Russia. The Russian central bank has unveiled an FX swap operation, allowing firms to borrow dollars in exchange for Rubles for a duration of 1 day (at a cost of 7%p.a.). Of course, this squeeze on USD funding – driven by Western sanctions – will, instead of isolating Russia, force Russian companies (finding USD transactions prohibitively expensive) into the CNY-axis, thus further strengthening the Yuanification of world trade and the ultimate demise of the USD as reserve currency.

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Sep 16

Bank Of America Has A Message For Its European Depositors: “We May Charge You” (ZeroHedge, Sep 15, 2014):

Because Mario Draghi wasn’t joking about that whole NIRP thing. And yes, negative deposit rates mean just that.

BofA Europe deposits_0

As the letter says, don’t worry: Bank of America has an extensive team of “liquidity and investment management solutions” experts who will gladly advise you to rotate your money out of deposits and into financial stocks, preferably that of BAC itself.

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