Jan 21

If this isn’t the start of the crisis, just imagine how bad the real crisis is going to be:

Chances are you’ve never heard of William White.

You might have heard of the organization that he used to manage—the Bank of International Settlements (BIS).

The BIS is often called the central bank of central banks; their role is essentially to facilitate international financial transactions among the world’s central banks.

So they are a major component in the international financial system, just like the IMF and World Bank.

William White is a central banker who used to be on the BIS management committee. And this makes him a key member of the global financial establishment. Continue reading »

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Dec 06

BIS Warns The Fed Rate Hike May Unleash The Biggest Dollar Margin Call In History:

“While funding continued to be available, such a large negative basis indicates potential market dislocations. And this may call into question how smoothly US dollar funding conditions will adjust in the event of an increase in US onshore interest rates. Similar pricing anomalies have also emerged in interest rate swap markets recently, raising related concerns.”

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Oct 17

biz_basel

One Bank to Rule Them All: Exposing the Bank for International Settlements, Part I

A Bank To Rule Them All: Exposing the Bank For International Settlements, Part II

One Bank To Rule Them All: Exposing the Bank for International Settlements, Part III

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Jun 29

H/t reader squodgy:

“The BANKSTERS’ BANKSTERS admit they’ve *uc#ed up” and used all their ammunition to cover up decades of incompetence and this next crash will be a Tsunami.”


bis-bank-for-international-settlements-basel-switzerland
Just another Rothschild controlled ‘bee-hive’.

Central Bank of Central Banks Says “The World is Unable to Fight Next Global Crash” (SHFTplan, June 29, 2015):

According to the Bank of International Settlements (BIS), the shadowy “central bank of central banks,” the world as it stands is incapable of combating another global financial crash – a crash that there is every reason to think is coming.

That’s because the economy remains in the hands of the Federal Reserve and other central banks. The financial wizards in THIS VIDEO went so far to say that “we are all slaves to the central banks.” It wasn’t exactly hyperbole. Continue reading »

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May 01

Tower of Basel

What Happens When You Hand Over Your Gold To The Bank Of England For “Safekeeping” (ZeroHedge, May 1, 2015):

“The Bank for International Settlements is the bank which sanctions the most notorious outrage of this generation— the rape of Czechoslovakia.”

— George Strauss, Labor MP, speaking in the House of Commons, May 1939

“the Bank for International Settlements should be liquidated before it
furnished any more sinews of war to Germany, and that the odd
relationship between the British government and the Bank of England
should be re-examined without delay.”

— “Sees British Hands Tied on Czech Gold,” New York Times, June 6, 1939

When Nazi Germany annexed the Czechoslovak border province of the Sudetenland in September 1938, it immediately absorbed a good part of the country’s banking system as well as most of Czechoslovakia’s strategic defenses. By then the country’s national bank had prudently transferred most of its gold abroad to two accounts at the Bank of England: one in the name of the BIS, and one in the name of the National Bank of Czechoslovakia itself. (Countries had deposited some of their gold reserves in a sub-account at the BIS account in London to ease gold sales and purchases.) Of the 94,772 kilograms of gold, only 6,337 kilograms remained in Prague. The security of the national gold was more than a monetary issue. The Czechoslovak reserves, like those of Republican Spain, were an expression of nationhood. Carved out of the remains of the Austro-Hungarian Empire in 1918, the Czechoslovak Republic was a new and fragile nation. A good part of the gold had been donated by the public in the country’s early years. Josef Malik, the governor of the national bank, and his fellow Czechs believed that, even as the Nazis’ dismembered their homeland, if the national gold was safe, then something of the country’s independence would endure. Continue reading »

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Apr 25

greek gold

Is Greece About To “Lose” Its Gold Again? (ZeroHedge, April 25, 2015):

When it comes to the topic of Greece, most pundits focus on two items: i) when will Greece finally run out of confiscated cash, and ii) will Greece fold to the Troika (and agree to another bailout(s) with even more austerity) or to Russia (and agree to the passage of the Russian Turkish Stream pipeline, potentially exiting NATO and becoming the most important European satellite of the USSR 2.0) once that moment arrives.

And yet what everyone appears to be forgetting is a nuanced clause buried deep in the term sheet of the second Greek bailout: a bailout whose terms will be ultimately reneged upon if and when Greece defaults on its debt to the Troika (either in or out of the Eurozone). Recall that as per our report from February 2012, in addition to losing its sovereignty years ago, Greece also lost something far more important. It’s gold:

To wit:

Ms. Katseli, an economist who was labor minister in the government of George Papandreou until she left in a cabinet reshuffle last June, was also upset that Greece’s lenders will have the right to seize the gold reserves in the Bank of Greece under the terms of the new deal. Continue reading »

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Apr 18

Related articles:

One Last Look At The Real Economy Before It Implodes – Part 1

One Last Look At The Real Economy Before It Implodes – Part 2

One Last Look At The Real Economy Before It Implodes – Part 3

One Last Look At The Real Economy Before It Implodes (… With The Purpose Of Permanently Enslaving Us All) – Part 4


cloister_conspiracy

One Last Look At The Real Economy Before It Implodes – Part 5 (Alt-Market, April 16, 2015):

Since I began writing analysis for the liberty movement more than eight years ago, I have always said that we will know when the endgame of the globalists is upon us when the criminals come out into the light of day and admit to their crimes. At that moment, it will be because they no longer fear either the repercussions or their plans being obstructed.

As I plan to show in this installment of my series on the hidden fiscal collapse of America, the endgame has indeed arrived. At the very least, the international elites seem to think success is within their grasp, for they now openly expose their own criminality. But they do so in a way that attempts to divert blame or to rationalize their actions as being for the “greater good.” Continue reading »

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Apr 11

bis-bank-for-international-settlements-basel-switzerland

Meet The Secretive Group That Runs The World (ZeroHedge, April 11, 2015):

Over the centuries there have been many stories, some based on loose facts, others based on hearsay, conjecture, speculation and outright lies, about groups of people who “control the world.” Some of these are partially accurate, others are wildly hyperbolic, but when it comes to the historic record, nothing comes closer to the stereotypical, secretive group determining the fate of over 7 billion people, than the Bank of International Settlements, which hides in such plain sight, that few have ever paid much attention.

BIS committee

This is their story.

BIS table

First unofficial meeting of the BIS Board of Directors in Basel, April 1930

* * *

The following is an excerpt from TOWER OF BASEL: The Shadowy History of the Secret Bank that Runs the World by Adam LeBor.  Reprinted with permission from PublicAffairs.

The world’s most exclusive club has eighteen members. They gather every other month on a Sunday evening at 7 p.m. in conference room E in a circular tower block whose tinted windows overlook the central Basel railway station. Their discussion lasts for one hour, perhaps an hour and a half. Some of those present bring a colleague with them, but the aides rarely speak during this most confidential of conclaves. The meeting closes, the aides leave, and those remaining retire for dinner in the dining room on the eighteenth floor, rightly confident that the food and the wine will be superb. The meal, which continues until 11 p.m. or midnight, is where the real work is done. The protocol and hospitality, honed for more than eight decades, are faultless. Anything said at the dining table, it is understood, is not to be repeated elsewhere. Continue reading »

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Dec 07

The central bank of central banks is “shocked”?

Sure!!!

Imagine my total absence of shock.

From the article:

The highly abnormal is becoming uncomfortably normal… There is something vaguely troubling when the unthinkable becomes routine.”


bis-bank-for-international-settlements-basel-switzerland

Even The BIS Is Shocked At How Broken Markets Have Become (ZeroHedge, Dec 7, 2014):

Not a quarter passes without the Bank of International Settlements (BIS) aka central banks’ central bank (also the locus of some of the most aggressive manipulation of gold and FX in human history) reiterating a dire warning about the fire and brimstone that is about to be unleashed upon the global economy.

It started in June of 2013, when Jaime Caruana, certainly the most prominent doom and gloomer at the BIS (who also was Governor of the Bank of Spain from 2000 to 2007 when this happened) asked if “central banks [can] now really do “whatever it takes”? As each day goes by, it seems less and less likely… [seven] years have passed since the eruption of the global financial crisis, yet robust, self-sustaining, well balanced growth still eludes the global economy…. low-interest policies have made it easy for the private sector to postpone deleveraging, easy for the government to finance deficits, and easy for the authorities to delay needed reforms in the real economy and in the financial system. Overindebtedness is one of the major barriers on the path to growth after a financial crisis. Borrowing more year after year is not the cure…in some places it may be difficult to avoid an overall reduction in accommodation because some policies have clearly hit their limits.

The BIS’ preaching did not end there, and hit a new crescendo in June of 2014, when in its 84th Annual Report, the BIS slammed “Market Euphoria”, and found a “Puzzling Disconnect” between the economy and the market”: Continue reading »

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Jul 15

Prepare for collapse.


bis-bank-for-international-settlements-basel-switzerland

The Head Of ‘The Central Bank Of The World’ Warns That Another Great Financial Crisis May Be Coming (Economic Collapse, July 13, 2014):

Most people have never heard of Jaime Caruana even though he is the head of an immensely powerful organization.  He has been serving as the General Manager of the Bank for International Settlements since 2009, and he will continue in that role until 2017.  The Bank for International Settlements is a rather boring name, and very few people realize that it is at the very core of our centrally-planned global financial system.  So when Jaime Caruana speaks, people should listen.  And the fact that he recently warned that the global financial system is currently “more fragile” in many ways than it was just prior to the collapse of Lehman Brothers should set off all sorts of alarm bells.  Speaking of the financial markets, Caruana ominously declared that “it is hard to avoid the sense of a puzzling disconnect between the markets’ buoyancy and underlying economic developments globally” and he noted that “markets can stay irrational longer than you can stay solvent”.  In other words, he is saying what I have been saying for so long.  The behavior of the financial markets has become completely divorced from economic reality, and at some point there is going to be a massive correction.

So why would the head of ‘the central bank of the world’ choose this moment to issue such a chilling warning? Continue reading »

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Jul 10

Is The Fed Going To Attempt A Controlled Collapse? (NotQuant, July 8, 2014):

As most Fed watchers know, last week was interesting because Janet Yellen, speaking at IMF came out and said something quite surprising.  In a nutshell, she said “It’s not the Fed’s job to pop bubbles”.   While many market participants immediately took this to mean, “To the moon, Alice!” and started buying equities hand over fist, there’s another possible explanation for Mrs. Yellen’s proclamation of unwillingness:  The Fed could be preparing to do exactly what it said it wouldn’t.

Here’s a quick re-cap of events:  In the recently released Annual Report of the BIS: Bank for International Settlements  (commonly thought of as the “central bank’s central bank”) the BIS made a rather ominous recommendation to it’s member banks: Pop this bubble now.   Their specific language wasn’t quite so direct, but the message was just as clear. Continue reading »

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Jun 29

BIS, the central bank of central banks, is located in Basel, Switzerland, but it also has branches in Hong Kong and Mexico City.  It is essentially an unelected, unaccountable central bank of the world that has complete immunity from taxation and from national laws.  Even Wikipedia admits that “it is not accountable to any single national government.

Related info:

Another Conspiracy ‘Theory’ Becomes Conspiracy ‘Fact’: ‘Cluster Of Central Banks’ Have Secretly Invested $29 TRILLION In The Market

40 Central Banks Are Betting This Will Be The Next Reserve Currency


bis-bank-for-international-settlements-basel-switzerland

BIS Slams “Market Euphoria”, Finds “Puzzling Disconnect” Between Economy And Market (ZeroHedge, June 29, 2014):

“… it is hard to avoid the sense of a puzzling disconnect between the markets’ buoyancy and underlying economic developments globally….  Despite the euphoria in financial markets, investment remains weak. Instead of adding to productive capacity, large firms prefer to buy back shares or engage in mergers and acquisitions.

As history reminds us, there is little appetite for taking the long-term view. Few are ready to curb financial booms that make everyone feel illusively richer.  Or to hold back on quick fixes for output slowdowns, even if such measures threaten to add fuel to unsustainable financial booms. Or to address balance sheet problems head-on during a bust when seemingly easier policies are on offer. The temptation to go for shortcuts is simply too strong, even if these shortcuts lead nowhere in the end.

     – Bank of International Settlements, 84th Annual Report

It was a year ago when the general manager of the Bank of International Settlements (the central banks’ central bank), Jamie Caruana warned that the “Monetary Kool-Aid Party Is Over.” Since then central banks have proven their own supervisor wrong in their ability to kick the can, because even as the Fed has commenced tapering its own QE (due to the same bond market liquidity issues we warned about last summer) the ECB has more than offset the Fed’s brief attempt at policy normalization by escalating, for the first time in history, from ZIRP to NIRP. In other words, the Kool-Aid keeps flowing.

Which brings us to the BIS’ just released annual report. There are many reason to read the full report cover to cover, but perhaps the most prominent one is that, once again, the Bank of International Settlements has merely compiled a book report of all Zero Hedge posts not only over the past year, but since our inception.

A quick summary of the report comes from FT: Continue reading »

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May 27

H/t reader squodgy:

“This is strange.

Seems the Bonds were dumped and the Rothschilds through the JP Morgan channel have bought them under a shell trader to prop up the US Fed….again Rothschild & JP Morgan plus Goldman Sachs.”


Who Is The New Secret Buyer Of U.S. Debt? (Alt-Market, May 21, 2014):

On the surface, the economic atmosphere of the U.S. has appeared rather calm and uneventful. Stocks are up, employment isn’t great but jobs aren’t collapsing into the void (at least not openly), and the U.S. dollar seems to be going strong. Peel away the thin veneer, however, and a different financial horror show is revealed.

U.S. stocks have enjoyed unprecedented crash protection due to a steady infusion of fiat money from the Federal Reserve known as quantitative easing. With the advent of the “taper”, QE is now swiftly coming to a close (as is evident in the overall reduction in treasury market purchases), and is slated to end by this fall, if not sooner. Continue reading »

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May 13

putin wink

Russia Is Dominated By Global Banks, Too (ALT-MARKET, April 1, 2014):

Numerous cultures have had holidays dedicated to the celebration of pulling the wool over the eyes of others, from the ancient Romans, to early Muslims, to medieval Christians, to Americans and Europeans today. As April begins, we once again turn a mischievous eye to the concept of the fool and, as always, each person seeks to be the prankster and never the victim.

Unfortunately, even the most vigilant of Americans can sometimes be led astray by a clever ruse, and I believe this is taking place today in the liberty movement’s perception of the rising “tensions” between Russia and the West.

In my article Ukraine Crisis: Just Another Globalist-Engineered Powder Keg, I outlined the history of false paradigms and engineered conflicts between numerous nations, including how these conflicts are exploited by global money interests to consolidate and centralize social and political power. The birth of communist Russia, in particular, was directly funded by Western banks and supported with arms and military aid from the U.S. government itself. These sorts of startling facts are not taught in schools and universities exactly because the continued dominance of the money elite relies on continued misrepresentations of legitimate history.

Many in the liberty movement have studied and are well aware of the central banking cabal and its stranglehold on the U.S. and Europe. But strangely, some people refuse to acknowledge the substantial possibility that global bankers are also in control of Russia and are playing both sides of the burgeoning economic war. Continue reading »

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Mar 03

You can listen to the full interview here:

– Former central banker: “[Bankers] are making it up as they go along. (Sovereign Man, March 3, 2014):

[Editors note: Tim Price, Director of Investment at PFP Wealth Management and frequent Sovereign Man contributor is filling in for Simon today.]

A few weeks ago, William White (former economist at the Bank of England, the Bank of Canada, and Bank of International Settlements) made a frank admission.

And while we search for assets whose prices are less obviously distorted by malign government intervention, it’s refreshing to hear a mea culpa from a member of the economics “profession”.

White said: Continue reading »

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Oct 02

Karen Hudes: We’re Running Out of Time! We’re Dealing with Whether We Can Continue as Humanity

YouTube

World Bank Whistleblower Karen Hudes Reveals How The Global Elite Rule The World (Economic Collapse, Sep 30, 2013):

Karen Hudes is a graduate of Yale Law School and she worked in the legal department of the World Bank for more than 20 years.  In fact, when she was fired for blowing the whistle on corruption inside the World Bank, she held the position of Senior Counsel.  She was in a unique position to see exactly how the global elite rule the world, and the information that she is now revealing to the public is absolutely stunning.  According to Hudes, the elite use a very tight core of financial institutions and mega-corporations to dominate the planet.  The goal is control.  They want all of us enslaved to debt, they want all of our governments enslaved to debt, and they want all of our politicians addicted to the huge financial contributions that they funnel into their campaigns.  Since the elite also own all of the big media companies, the mainstream media never lets us in on the secret that there is something fundamentally wrong with the way that our system works.Remember, this is not some “conspiracy theorist” that is saying these things.  This is a Yale-educated attorney that worked inside the World Bank for more than two decades.  The following summary of her credentials comes directly from her website: Continue reading »

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Sep 15

Five Years After Lehman, BIS Ex-Chief Economist Warns “It’s Worse This Time” (ZeroHedge, Sep 15, 2013):

The froth is back. As we noted yesterday, corporate leverage has never been higher – higher now than when the Fed warned of froth, and as the BIS (following their “party’s over” rant 3 months ago) former chief economist now warns, “this looks like to me like 2007 all over again, but even worse.” The share of “leveraged loans” or extreme forms of credit risk, used by the poorest corporate borrowers, has soared to an all-time high of 45% – 10 percentage points higher than at the peak of the crisis in 2007.

As The Telegraph reports, ex-BIS Chief Economist William White exclaims, “All the previous imbalances are still there. Total public and private debt levels are 30pc higher as a share of GDP in the advanced economies than they were then, and we have added a whole new problem with bubbles in emerging markets that are ending in a boom-bust cycle.”

Crucially, the BIS warns, nobody knows how far global borrowing costs will rise as the Fed tightens or “how disorderly the process might be… the challenge is to be prepared.” This means, in their view, “avoiding the tempatation to believe the market will remain liquid under stress – the illusion of liquidity.”
Continue reading »

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Jun 26

The 441 TRILLION Dollar Interest Rate Derivatives Time Bomb (Economic Collapse, June 24, 2013):

Do you want to know the primary reason why rapidly rising interest rates could take down the entire global financial system?  Most people might think that it would be because the U.S. government would have to pay much more interest on the national debt.  And yes, if the average rate of interest on U.S. government debt rose to just 6 percent (and it has actually been much higher in the past), the federal government would be paying out about a trillion dollars a year just in interest on the national debt.  But that isn’t it.  Nor does the primary reason have to do with the fact that rapidly rising interest rates would impose massive losses on bond investors.  At this point, it is being projected that if U.S. bond yields rise by an average of 3 percentage points, it will cause investors to lose a trillion dollars.  Yes, that is a 1 with 12 zeroes after it ($1,000,000,000,000).  But that is not the number one danger posed by rapidly rising interest rates either.  Rather, the number one reason why rapidly rising interest rates could cause the entire global financial system to crash is because there are more than 441 TRILLION dollars worth of interest rate derivatives sitting out there.  This number comes directly from the Bank for International Settlements – the central bank of central banks.  In other words, more than $441,000,000,000,000 has been bet on the movement of interest rates.  Normally these bets do not cause a major problem because rates tend to move very slowly and the system stays balanced.  But now rates are starting to skyrocket, and the sophisticated financial models used by derivatives traders do not account for this kind of movement.So what does all of this mean? Continue reading »

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Jun 23

The Bank Of International Settlements Warns The Monetary Kool-Aid Party Is Over (ZeroHedge, June 23, 2013):

When a month ago the Central Banks’ Central Bank, aka the Bank of International Settlements (or BIS) in Basel where the MIT central-planning braintrust meets every few months to decide the fate of the world, warned that the Fed-induced collateral shortage is distorting the markets, few paid attention. That the implication behind said warning was that QE can not continue at the current pace, was just as lost. A few short weeks later following the biggest plunge in markets since 2011 in the aftermath of Bernanke’s taper tantrum, some are finally willing to listen.However, they will certainly not like what the BIS just released as a follow up, both in the form of the BIS’ 83rd Annual Report, and the speech by Jaime Caruana to commemorate said annual meeting. For the simple reason that it reads like a Zero Hedge sermon, which says, almost verbatim, that the days of kicking the can via flawed monetary policy are now over, and that the time for central banks to head for the exit has finally come.

The BIS message, as summarized by the FT, is that “central banks must head for the exit and stop trying to spur a global economic recovery… cheap and plentiful central bank money had merely bought time, warning that more bond buying would retard the global economy’s return to health by delaying adjustments to governments’ and households’ balance sheets.” Continue reading »

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Jun 03

“Markets Under The Spell Of Monetary Easing” Bank Of International Settlements Finds… Same As “Then” (ZeroHedge, June 2, 2013):

Then….

Ben Bernanke 7/1/2005, CNBC interview:

INTERVIEWER: Tell me, what is the worst-case scenario? We have so many economists coming on our air saying ‘Oh, this is a bubble, and it’s going to burst, and this is going to be a real issue for the economy.’ Some say it could even cause a recession at some point. What is the worst-case scenario if in fact we were to see prices come down substantially across the country?

BERNANKE: Well, I guess I don’t buy your premise. It’s a pretty unlikely possibility. We’ve never had a decline in house prices on a nationwide basis. So, what I think what is more likely is that house prices will slow, maybe stabilize, might slow consumption spending a bit. I don’t think it’s gonna drive the economy too far from its full employment path, though. Continue reading »

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Feb 07

Who Controls The Money? An Unelected, Unaccountable Central Bank Of The World Secretly Does (Economic Collapse, Feb 5, 2013):

An immensely powerful international organization that most people have never even heard of secretly controls the money supply of the entire globe.  It is called the Bank for International Settlements, and it is the central bank of central banks.  It is located in Basel, Switzerland, but it also has branches in Hong Kong and Mexico City.  It is essentially an unelected, unaccountable central bank of the world that has complete immunity from taxation and from national laws.  Even Wikipedia admits that “it is not accountable to any single national government.”  The Bank for International Settlements was used to launder money for the Nazis during World War II, but these days the main purpose of the BIS is to guide and direct the centrally-planned global financial system.  Today, 58 global central banks belong to the BIS, and it has far more power over how the U.S. economy (or any other economy for that matter) will perform over the course of the next year than any politician does.  Every two months, the central bankers of the world gather in Basel for another “Global Economy Meeting”.  During those meetings, decisions are made which affect every man, woman and child on the planet, and yet none of us have any say in what goes on.  The Bank for International Settlements is an organization that was founded by the global elite and it operates for the benefit of the global elite, and it is intended to be one of the key cornerstones of the emerging one world economic system.  It is imperative that we get people educated about what this organization is and where it plans to take the global economy.

Sadly, only a very small percentage of people actually know what the Bank for International Settlements is, and even fewer people are aware of the Global Economy Meetings that take place in Basel on a bi-monthly basis.

These Global Economy Meetings were discussed in a recent article in the Wall Street JournalContinue reading »

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Nov 14

For your information.

The elitists vs. the people.



YouTube Added: 13.11.2011

For more information: Thrive

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Jul 08

BIS Changed Silver Data (Silver Stock Report by Jason Hommel, July 6th, 2011):

From $203 to $93 Billion in Silver Liabilities?

The Bank of International Settlements (BIS) has changed, or revised, their silver derivatives data in their derivatives reports.  The change took place between their June, 2010 report, and their December, 2010 report, for the period of June, 2009.  The change was from $203 billion in “other precious metals” liabilities, changed down to $93 billion.

The change took place, in Table 22A: Amounts outstanding of OTC equity-linked and commodity derivatives, By instrument and counterparty, in the category of “other precious metals”, for June, 2009, Notional amounts outstanding.

In June, 2009, the silver price was about $15/oz.
http://www.silverseek.com/quotes/5silver.php

This means that the $203 billion silver liability divided by $15/oz. shows that all the banks in the world that are tracked by the BIS owed 13.5 billion ounces of silver.

But the entire world silver mining production is only about 700 million oz. of silver annually, so this is an admission that the banks owed about 19.3 years worth of world annual mine production of silver.

The adjustment, from $203 billion, down to $93 billion was a drop of $110 billion, or more than half of the number!  The lower number, $93 billion, is still absurdly large, at about 6.2 billion oz. of silver, or about 8.8 years of worth of world annual mine production of silver.

The obviously large and very excessive amounts are the smoking gun of silver fraud by the western world’s banks.

This BIS data is extremely important, because it is far larger than the excessive short selling amounts often noted at the COMEX, which typically is only about 1 billion ounces of silver, or less.

Continue reading »

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Jul 01


Added: 30.06.2011

More FKN NEWZ:

FKN NEWZ: Imagination Police Announce New Bogeyman (06/16/2011)

FKN NEWZ: G8 Love Money & Bombs (May 27, 2011)

FKN NEWZ: IMF Raped Greece, Ireland, Portugal

FKN NEWZ: War is Peace – Freedom is Slavery – Ignorance is strength

FKN NEWZ: Osama Is Dead – Long Live Obama (05/06/2011)

Continue reading »

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Jun 17

America Is Being Raped … Just Like Greece and Other Countries (ZeroHedge, June 16, 2011):

Preface: The war between liberals and conservatives is a false divide-and-conquer dog-and-pony show created by the powers that be to keep the American people divided and distracted. See this, this, this, this, this, this, this, this, this and this. So before assuming that privatization is a good thing, read on.

If these resources had always been in the private sector, that would be fine … that would be free market capitalism.

But if they were purchased with our taxpayer funds and then sold to the big boys for cheap, that is looting.

Greece is thinking of selling some islands. Austria is thinking of selling mountains to pay off their national debt. Cities throughout the U.S. are thinking of privatizing their parking meters.

What’s going on?

Continue reading »

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Mar 13


Added: 12.03.2011

The world’s most (in)famous hacker group – Anonymous – known for effectively shutting down their hacking nemesis security firm (with clients such as Morgan Stanley and, unfortunately for them, Bank of America)- HBGary, advocating the cause of Wikileaks, and the threat made by one of its members that evidence of fraud by Bank of America will be released on Monday, has just launched communication #1 in its Operation “Empire State Rebellion.”

The goal – engage in “a relentless campaign of non-violent, peaceful, civil disobedience” until Ben Bernanke steps down and the “Primary Dealers within the Federal Reserve banking system be broken up and held accountable for rigging markets and destroying the global economy effective immediately.

The Anonymous manifesto:

  • We are a decentralized non-violent resistance movement, which seeks to restore the rule of law and fight back against the organized criminal class.
  • One-tenth of one percent of the population has consolidated wealth in unprecedented fashion and launched an all-out economic war against 99.9% of the population.
  • We are not affiliated with either wing of the two-party oligarchy. We seek an end to the corrupted two-party system by ending the campaign finance and lobbying racket.
  • Above all, we aim to break up the global banking cartel centered at the Federal Reserve, International Monetary Fund, Bank of International Settlement and World Bank.
  • We demand that the primary dealers within the Federal Reserve banking system be broken up and held accountable for rigging markets and destroying the global economy, effective immediately.
  • As a first sign of good faith we demand Ben Bernanke step down as Federal Reserve chairman.
  • Until our demands are met and a rule of law is restored, we will engage in a relentless campaign of non-violent, peaceful, civil disobedience.
  • In our next communication we will announce Operation Empire State Rebellion.

Continue reading »

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Feb 12

“The Biggest Scam in The History of Monetary Civilization”

Part 1:

Added: 2. December 2010

Part 2:

Added: 24. December 2010

Part 3:

Added: 9. January 2011

Part 4:

Added: 11. February 2011

More on gold and silver:

Continue reading »

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Sep 03

Just wait for the currency markets meltdown!

Expect another ‘Problem – Reaction – Solution’ scenario created by the elite anytime soon.

Here is some background on the BIS (Bank for International Settlements):

BIS: Currency Collapse May Stimulate Economic Expansion (Bloomberg)

Remember?

President Medvedev Shows Off Sample Coin of New World Currency at G8 (Bloomberg)


Percentage share of the U.S. dollar has continued its (not so) slow decline

us-dollar


FRANKFURT (MarketWatch) — Daily turnover in the world’s foreign-exchange markets has soared to $4 trillion, the Bank for International Settlements said Wednesday.

In its survey, conducted every three years, the Basel, Switzerland-based BIS found that global turnover in April 2010 was up 20% from $3.3 trillion in April 2007.

Spot transactions led the rise, increasing to $1.5 trillion a day in 2010 from $1 trillion in 2007. Other forex instruments saw turnover rise 7%, for an average daily turnover of $2.5 trillion.

Britain retained its title as the top player in the forex market, with British-based banks accounting for 36.7% of daily turnover, up from 34.6% in 2007.

The United States followed with 18%, while Japan accounted for 6%. Rounding out the top players, Switzerland, Singapore and Hong Kong accounted for 5% each, while Australia-based banks accounted for 4%.

The percentage share of the U.S. dollar has continued its slow decline witnessed since the April 2001 survey, while the euro and the Japanese yen gained relative to April 2007.

Among the 10 most actively traded currencies, the Australian and Canadian dollars both increased market share, while the pound sterling and the Swiss franc lost ground. The market share of emerging-market currencies increased, with the biggest gains for the Turkish lira and the Korean won.

The U.S. dollar had a share in 85% of all transactions, continuing a “slow retreat” from its 90% peak in 2001 just after the introduction of the euro, the BIS said.

The euro gained two percentage points since the 2007 survey to account for 39% of all transactions. The Japanese yen also increased its market share by two percentage points to 19%, but remained below its 2001 peak of 23.5%.

Continue reading »

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Jul 12

The Bank of International Settlements is the central banks of central banks controlled by the same elite criminals that have created the entire financial crisis.

Whatever game they can play to suppress the ‘price of gold’ – their greatest enemy – they will do it..

See also:

BIS: Currency Collapse May Stimulate Economic Expansion

Renaissance 2.0: Lesson 5 – The Emerging Global Empire – The New World Order

Interestingly enough this article mentions the Baltic Dry Index, which has been a really good indicator of what is coming, because it cannot be manipulated (that easily). Prepare for collapse.


It takes a lot to spook the solid old gold market. But when it emerged last week that one or more banks had lent 380 tonnes of gold to the Bank of International Settlements in return for foreign currencies, there was widespread surprise and confusion

gold-bars_123
Secret gold swap has spooked the market

The news that a mystery bank has just pawned the family jewels gave traders a jolt – nervous about the sudden transfer of almost 20pc of the world’s annual gold production and the possibility of a sell-off.

In a tiny footnote in its annual report, the bank disclosed its unusually large holding of gold, compared with nothing the year before. The disclosure was a large factor in the correction of the gold price this week, which fell below $1,200 for the first time in more than a month.

Concerns hinged on whether the BIS could potentially sell on this vast cache of bullion in the event of a default, flooding the market with liquidity. It appears to have raised $14bn for whoever’s been doing the swapping – small fry on the currency markets, but serious liquidity in the gold market.

Denominated in euros, gold has fallen 8pc since the beginning of the month and is now trading at a seven-week low of €937 per troy ounce.

The big gold exchange traded funds (ETFs) – having peaked at record inflows in May – have also been showing net outflows over the past few days.

Meanwhile, economists and gold market-watchers were determined to hunt down which bank is short of cash – curious about who is using their stash of precious metal for what looks suspiciously like a secret bailout.

At first it looked like the BIS was swapping gold with a troubled central bank. After all, the institution is the central bankers’ bank and its purpose to conduct transactions with national monetary authorities.

Central banks in the troubled southern zone of Europe were considered the most likely perpetrators.

According to the World Gold Council, central banks in Greece, Spain and Portugal held 112.2, 281.6 and 382.5 tons of gold respectively in June – leading analysts to point fingers at Portugal, or a combination of the three.

But Edel Tully, an analyst from UBS, noted that eurozone central banks would be severely limited with what they could do with the influx of extra cash – unable to transfer it straight to governments or make use of the primary bond markets.

She then listed the only other potential monetary authorities with enough gold as the US, China, Switzerland, Japan, Russia, India and Taiwan – and the International Monetary Fund.

This led to musings that the counterparty was the IMF, making sense because the lender of last resort is historically prone to cash shortages and has been quietly selling off gold in the first half of the year.

Renowned gold expert Jim Sinclair adopted this explanation. The panic came when people mistook a lease for a swap, he argues. Far from being a big release of gold into the market, it is simply a commercial arrangement between the IMF and BIS with a favourable rate of interest paid for the foreign currency. Continue reading »

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Jul 05

This is the Greatest Depression.


The US workforce shrank by 652,000 in June, one of the sharpest contractions ever. The rate of hourly earnings fell 0.1pc. Wages are flirting with deflation.

us-still-trapped-in-depression
People queue for a job fair in New York. The share of the US working-age population with jobs in June fell from 58.7pc to 58.5pc. The ratio was 63pc three years ago. Photo: EPA

“The economy is still in the gravitational pull of the Great Recession,” said Robert Reich, former US labour secretary. “All the booster rockets for getting us beyond it are failing.”

“Home sales are down. Retail sales are down. Factory orders in May suffered their biggest tumble since March of last year. So what are we doing about it? Less than nothing,” he said.

California is tightening faster than Greece. State workers have seen a 14pc fall in earnings this year due to forced furloughs. Governor Arnold Schwarzenegger is cutting pay for 200,000 state workers to the minimum wage of $7.25 an hour to cover his $19bn (£15bn) deficit.

Can Illinois be far behind? The state has a deficit of $12bn and is $5bn in arrears to schools, nursing homes, child care centres, and prisons. “It is getting worse every single day,” said state comptroller Daniel Hynes. “We are not paying bills for absolutely essential services. That is obscene.”

Roughly a million Americans have dropped out of the jobs market altogether over the past two months. That is the only reason why the headline unemployment rate is not exploding to a post-war high.

Let us be honest. The US is still trapped in depression a full 18 months into zero interest rates, quantitative easing (QE), and fiscal stimulus that has pushed the budget deficit above 10pc of GDP.

The share of the US working-age population with jobs in June actually fell from 58.7pc to 58.5pc. This is the real stress indicator. The ratio was 63pc three years ago. Eight million jobs have been lost.

The average time needed to find a job has risen to a record 35.2 weeks. Nothing like this has been seen before in the post-war era. Jeff Weninger, of Harris Private Bank, said this compares with a peak of 21.2 weeks in the Volcker recession of the early 1980s.

“Legions of individuals have been left with stale skills, and little prospect of finding meaningful work, and benefits that are being exhausted. By our math the crop of people who are unemployed but not receiving a check amounts to 9.2m.”

Republicans on Capitol Hill are filibustering a bill to extend the dole for up to 1.2m jobless facing an imminent cut-off. Dean Heller from Vermont called them “hobos”. This really is starting to feel like 1932.

Washington’s fiscal stimulus is draining away. It peaked in the first quarter, yet even then the economy eked out a growth rate of just 2.7pc. This compares with 5.1pc, 9.3pc, 8.1pc and 8.5pc in the four quarters coming off recession in the early 1980s.

The housing market is already crumbling as government props are pulled away. The expiry of homebuyers’ tax credit led to a 30pc fall in the number of buyers signing contracts in May. “It is cataclysmic,” said David Bloom from HSBC. Continue reading »

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Jun 14

Wikipedia:

The BIS was formed in 1930, the main actors in the establishment of the BIS were the then Governor of The Bank of England, Montague Norman and his German colleague Hjalmar Schacht, later Adolf Hitler’s finance minister.

During the period 1933 – 1945, the board of directors of the BIS included Walter Funk a prominent Nazi official, and Emil Puhl, who were both convicted at the Nuremberg trials after World War II, as well as Herman Schmitz the director of IG Farben and Baron von Schroeder, the owner of the J.H.Stein Bank, the bank that held the deposits of the Gestapo. There were allegations that the BIS had helped the Germans loot assets from occupied countries during World War II.

Use ‘Google Translate’ for this:

Wikipedia (German):

In der Zeit des Nationalsozialismus von 1933 bis 1945 galt die BIZ als sehr „nazifreundlich“ mit einer einflussreichen „deutschen Gruppe“ innerhalb des Unternehmens. Zum Beispiel war Emil Puhl (der geschäftsführende Vizepräsident der Reichsbank) einer der BIZ-Präsidenten. Die BIZ übernahm 1938 nach dem „Anschluss“ Österreichs das österreichische Gold und war 1939 nach der NS-Besetzung der Tschechei auch bei der Überweisung eines Teils des tschechischen Goldes zugunsten der NS-Seite behilflich. Lord Montagu Norman, einer der Präsidenten der BIZ und gleichzeitig Leiter der Bank of England, verhinderte die Überweisung nicht. Ab April 1939 wurde der amerikanische Anwalt Thomas McKittrick in die BIZ eingegliedert, um eine demokratische Fassade vorzutäuschen. Während der Kriegszeit 1939 bis 1945 wickelte die BIZ alle notwendigen Devisengeschäfte für das Deutsche Reich ab. Es kam deshalb später zu dem offenen Vorwurf des Handels mit Raubgold (looted gold) der vom Deutschen Reich übernommenen Zentralbanken. Die Bestrebungen des US-Finanzministers Morgenthau und der norwegischen Exilregierung ab 1943, die BIZ wegen ihrer Nazifreundlichkeit aufzulösen, waren vergeblich. Der britische Finanzexperte Keynes argumentierte u.a. gegen Morgenthau, die BIZ werde für den „Wiederaufbau“ nach dem Krieg gebraucht. Erst im März 1945 wurden die Devisengeschäfte mit dem Deutschen Reich eingestellt, weil der amerikanische Druck auf die Schweiz nicht mehr abzuwenden war. Diese Nazi-Vergangenheit der BIZ wurde bis in die 1990er Jahre verschwiegen.

Show the following article to your economics Prof. and watch his facial expression!

More complete elite bullshit we can take a bath in!

(Read about the solution for Greece here. Instead this is what is really happening.)


Currency Collapse May Stimulate Economic Expansion, BIS Says

bis-bank-for-international-settlements-basel-switzerland
The BIS is the Central Bank of Central Banks and answers to no government on planet earth.

June 14 (Bloomberg) — Currency collapses tend to spur a resumption of economic growth rather than fueling a decline in gross domestic product, according to the Bank for International Settlements.

Currency collapses are associated with permanent output losses of about 6 percent of GDP, on average, though the drop tends to appear beforehand, the Basel, Switzerland-based BIS said in its quarterly review yesterday.

“This suggests that it may not be the currency collapse that reduces output, but rather the factors that led to the depreciation,” Camilo E. Tovar wrote in the study. “To gain a full understanding of the implications of currency collapses on economic activity it is important to carefully examine the full circle of events surrounding the episode.”

The positive effects of a weaker currency on GDP, including making local products cheaper than imported goods, may outweigh the negative ones, such as rising inflation. Currency collapses occur when the annual exchange rate drops by about 22 percent, according to the BIS, which identified 79 such episodes, “more commonly in Africa than in Asia or Latin America,” since 1960, Tovar said. Continue reading »

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May 25

Renaissance 2.0: Lesson 1 – Revisiting American History – Financial Empire

Renaissance 2.0: Lesson 2 – Revisiting Economics 101 – Debt

Renaissance 2.0: Lesson 3 – Revisiting Civics 101 – Ownership

Renaissance 2.0: Lesson 4 – The Culture of Empire


1 of 2:

Added: 15. April 2010

Lesson 5 (part 1) explains the strategic global transition we’re currently living through. It provides the correct strategic perspective, thereby replacing false ones like the left vs. right paradigm, to help interpret the overwhelming flow of information we get from the media.

2 of 2:

Added: 15. April 2010

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Apr 16

Well well well…. ( The origins of the next crisis – William White, the former chief economist at the Bank of International Settlements (BIS) gave an important speech at George Soros’ Inaugural Institute of New Economic Thinking (INET) conference in Cambridge.):

In essence, White was saying: “it’s the debt, stupid.”  When aggregate debt levels build up across business cycles, economists focused on managing within business cycles miss the key ingredient that leads to systemic crisis. It should be expected that politicians or private sector participants worried about the day-to-day exhibit short-termism. But White says it is particularly troubling that economists and their models exhibit the same tendency because it means there is no long-term oriented systemic counterweight guiding the economy.

This short-termism that White refers to is what I call the asset-based economic model. And, quite frankly, it works – especially when interest rates are declining as they have over the past quarter century. The problem, however, is that you reach a critical state when the accumulation of debt and the misallocation of resources is so large that the same old policies just don’t work anymore. And that’s when the next crisis occurs.

It seems that Mr. Harrison has it figured out.  He goes on to spend a lot of digital ink on the periphery of the bottom line, which is that we continue to think of debt in terms of service costs (indeed, you’ll hear Bernanke talk about it, but never about the actual gross financial system debt outstanding.)

When you boil all this down, however, you get to the following chart (trendline added by moi):

usdoomloop

You can see what’s going on here – each “crisis” leads to lower lows and lower highs.

This presents two problems: Continue reading »

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Feb 10

Update: German Official: No EU, Bilateral Aid For Greece On EU Agenda (Wall Street Journal)

—-

The last word is not spoken yet!

See also:

Greece: ‘Ouzo crisis’ escalates into global margin call as confidence ebbs

The winner in case of a bailout is:

The CDS Puppetmaster Behind It All And The Ever Increasing Parallels Between AIG And Greece


Germany is preparing to drop its vehement opposition to a rescue package for Greece, fearing that a rapid escalation of the debt crisis in Southern Europe could endanger German banks and damage the euro.

protesting-farmers-shout-slogans-while-marching-in-central-athens
Protesting farmers shout slogans while marching in central Athens Photo: AFP/Getty Images

Wolfgang Schäuble, Germany’s finance minister, has asked officials to prepare a plan in time for a summit of EU leaders on Thursday, according to reports in the German media. The options include either a loan from EU states or some sort of institutional EU response.

The news pushed the euro to $1.38 against the dollar, the strongest one-day rally since the single currency began its nose-dive late last year. Yields on Greek 10-year bonds plummeted 36 basis points to 6.39pc in a matter of hours as speculators scrambled to exit overstretched positions, with synchronised moves for Portuguese, Spanish, and Italian bonds.

Michael Meister, parliamentary chief for Germany’s Christian Democrats, said the crisis could not be allowed to drag on. “Our top priority is the stability of the euro,” he told FT Deutschland. “Should Greece receive help, it will only be under tough conditions and if the Greek government undertakes root-and-branch reforms.”

Germany’s apparent backing for a bail-out comes despite worries that it will lead to the breakdown of fiscal discipline across the Club Med region. It also raises troubling questions of fairness. Ireland has tackled its own crisis by slashing wages and going far beyond any measure so far offered by Greece, yet Dublin has not received help.

Germany’s dramatic shift in policy changes the character of the euro project. It follows weeks of soul-searching in Berlin, and after increasingly loud pleas from Brussels, Paris and southern capitals. The deciding factor was concern that letting Greece fail risked a “Lehman-style” run on Club Med debt, with systemic spill-over across Europe. Continue reading »

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Feb 06

* World’s top bankers fly in
* To meet at secret location
* Trouble on the horizon

wall-street_003
The high-powered gathering coincides with a fresh meltdown on world sharemarkets (AP)

THE world’s top central bankers began arriving in Australia yesterday as renewed fears about the strength of the global economic recovery gripped world share markets.

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. Continue reading »

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Oct 23

“When the people find they can vote themselves money, that will herald the end of the republic.”
– Benjamin Franklin


Added: 22. October 2009

Fall Of The Republic documents how an offshore corporate cartel is bankrupting the US economy by design. Leaders are now declaring that world government has arrived and that the dollar will be replaced by a new global currency.

President Obama has brazenly violated Article 1 Section 9 of the US Constitution by seating himself at the head of United Nations’ Security Council, thus becoming the first US president to chair the world body.

A scientific dictatorship is in its final stages of completion, and laws protecting basic human rights are being abolished worldwide; an iron curtain of high-tech tyranny is now descending over the planet.

A worldwide regime controlled by an unelected corporate elite is implementing a planetary carbon tax system that will dominate all human activity and establish a system of neo-feudal slavery.

Continue reading »

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Oct 20

See also:
Death of ‘Soul of Capitalism:’ 20 reasons America has lost its soul and collapse is inevitable

The biggest collapse in world history is well on its way. The US dollar will not survive another major crisis.

The hottest investment now is the the dollar-carry trade:

Hedge Funds’ ATM Moves From Tokyo to Washington:
“It’s the U.S.’s turn to flood the world with cheap funding and the risks of this going wrong are huge.”
“Now imagine what might happen if the world’s reserve currency became its most shorted. Carry trades are, after all, bets that the funding currency will weaken further or stay down for an extended period of time.”

The confidence game is over. (Thanks to the Federal Reserve and the US government.)


When the financial system almost imploded in the fall of 2008, one of the primary responses by the Federal Reserve was the issuance of an unprecedented amount of FX liquidity lines in the form of swaps to foreign Central Banks. The number went from practically zero to a peak of $582 billion on December 10, 2008. The number of swaps outstanding was almost directly correlated with the value of the dollar (much more on that shortly). A graphic representation of this can be seen below:

(Click on images to enlarge.)
fx-swaps-and-dxy

The topic of skyrocketing liquidity swaps was in fact the headline feature of one of the numerous grillings of the Chairman by the inimitable Alan Grayson as can be seen in the following video:

And while Bernanke was not very interested in getting caught up in providing actual explanations, the Bank of International Settlements just released a major paper titled “The US dollar shortage in global banking and the international policy response” which goes on to demonstrate just how it happened that Fed chief Ben Bernanke in essence bailed out the entire developed world, which was facing an unprecedented dollar shortage crisis due to the sudden implosion of FX swap lines and other mechanisms which until that point were critical in maintaining the dollar funding shortfall for virtually every foreign Central Bank.

The BIS provides the following big picture perspective: Continue reading »

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Oct 03

War is Peace, Freedom is Slavery, Ignorance is Strength, and Debt is Recovery

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 economic crisis.

Why do we continue to believe the same people that have, in both statements and choices, been nothing but wrong? Who should we believe and turn to for more accurate information and analysis? Perhaps a useful source would be those at the epicenter of the crisis, in the heart of the shadowy world of central banking, at the global banking regulator, and the “most prestigious financial institution in the world,” which accurately predicted the crisis thus far: The Bank for International Settlements (BIS). This would be a good place to start.

The economic crisis is anything but over, the “solutions” have been akin to putting a band-aid on an amputated arm. The Bank for International Settlements (BIS), the central bank to the world’s central banks, has warned and continues to warn against such misplaced hopes. Continue reading »

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Jul 17

A must see!


Max Keiser:
“They are literally stealing a hundred million dollars a day. Goldman Sachs is stealing every day on the floor of the exchange. They should be in the Hague, they should be taken on financial terrorism charges. They should all be thrown in jail”

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Jul 02

dollar

SAO PAULO (Dow Jones)–Brazil is considering using its own currency when conducting trade with India, the local Estado de Sao Paulo newspaper said Monday.

Central Bank President Henrique Meirelles met with Indian banking officials in Europe at the Bank for International Settlements meeting over the weekend to discuss the move away from the dollar in trade between the nations, Estado reported.

Brazil and China are also conducting studies on how to shed the dollar in trade, according to Estado.

Continue reading »

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