For two and a half hours they’d debated it. Well, I say “debated”, but a debate needs two sides. This was more like a queue on the village green, with MPs taking turns to pelt the former boss of BHS with oratorical fruit. Continue reading »
MPs had planned to hold a vote on whether Sir Philip Green should be stripped of his knighthood. In the event, they didn’t – because they didn’t need to. The motion was approved without opposition. Not a single MP disagreed.
H/t reader squodgy:
“On the one hand we are being told we must embrace “Planet Sustainability”
On the other we are told “Global Corporatism” is the way forward.(at least for the Corporations)
But after reading John Perkins’ updated “New Confessions of an Economic Hitman” it seems that those policies are Mutually Exclusive.
We simply cannot have both, and thus the only conclusion is that this is all a fog of confusion deliberately poured over us to dumbfound us into silence.”
“Over the weekend, thousands of protesters across multiple countries condemned impending [Globalist] trade deals promoted by governments and their corporate partners. Though the protests received little coverage from mainstream media, they stretched from Paris to Warsaw.” (Carey Wedler, Blacklisted News, 10/19/16)
Start with this: when a system has been devised, planned, launched, and maintained by criminals to undermine a nation, they are naturally going to defend it by saying: “It’s good for everyone AND THERE IS NO OTHER WAY TO MANAGE HUMAN AFFAIRS. BESIDES, WE CAN’T STOP IT NOW. THAT WOULD CAUSE WIDESPREAD CHAOS.”
In exactly the same way, a massive prison housing nothing but innocent people would be hard to maintain, if the airtight security system were turned off. Continue reading »
What happens when an electricity dependent society and economy has an extended loss of electrical grid and communications?
One of the hidden realities of modern life is its fragility. For example, few people are aware of the precariousness of the supply chain that refills gasoline/petrol stations around the world every few days.
A new book, When Trucks Stop Running: Energy and the Future of Transportation explores the fragilities of our truck-dependent supply chains.
Longtime correspondent Bart D. (Australia) recently experienced a multi-day regional loss of electricity. His first-person observations help us understand what breakdowns in energy are like on the ground. Continue reading »
Back in 2010, Congress passed the Dodd-Frank Wall Street Reform and Consumer Protection Act which was intended to shut down proprietary trading desks at the big wall street banks while allowing them to hold just enough inventory to satisfy market making requirements. Which is why many are now questioning how a 34-year-old Goldman Sach high-yield trader, Tom Malafronte, managed to make $100mm while maintaining compliance with federal banking regulations. As a senior trader of Skyland Capital told the Wall Street Journal, “It goes against everything we’ve been seeing the last three years.”
The gains were the work of Tom Malafronte, a managing director on the bank’s high-yield-bond desk in New York. The 34-year-old trader bought billions of dollars in junk corporate debt on the cheap starting in January, then locked in profits as prices recovered, according to people familiar with the matter. Continue reading »
“A rose (or in this arse a poison) by any othe name is still a rose.
Anyone who thinks the people’s will is respected by the PTB and their Global Corporate leeches, whose only aim is profit at the expense of the worker, is a blinkered idiot.
If Brexit, the TTIP, or TPTA are really doomed as the people think, I believe in fairies.”
Over the weekend, thousands of protesters across multiple countries condemned impending trade deals promoted by governments and their corporate partners.
Though the protests received little coverage from mainstream media, they stretched from Paris to Warsaw.
The demonstrations came amid the Commission on International Trade of the European Parliament’s plans to finalize the Comprehensive Economic and Trade Agreement (CETA) this week. The policy has been likened to so-called “free trade” deals pushed by President Barack Obama and other Western governments.
“Ask any “SENSIBLE” housewife responsible for the economic and financial control of her household “are prices rising?” And the responses will be a unanimous yell….YES!
Governments have learnt to hide figures by manipulating statistics, removing products with increasing costs from the shopping basket and generally lying. Anyone can establish this from real life, as well as the Internet.
In UK since Brexit vote prices for imports (on which we now rely since Thatcher) have increase in accordance with the reduction in Sterling value.
All part of the plan.”
UK inflation recorded its sharpest jump in more than two years in September, even without any direct evidence of the weaker pound pushing up prices.Annual UK consumer price inflation rose to 1% from 0.6% in August, the highest level since November 2014 and the biggest jump from one month to the next since June 2014, the Office for National Statistics said.
Economists polled by Reuters had expected a reading of 0.9%, and today’s figure was at the top end of the range of forecasts.
They are likely to view September’s rise as only the start of a much broader increase, fuelled by the pound’s near 20% plunge since June’s vote to leave the European Union.
One month ago, when we last looked at the Fed’s update of Treasuries held in custody, we noted something troubling: the number dropped sharply, declining by over $27.5 billion in one week, the biggest weekly drop since January 2015, pushing the total amount of custodial paper to $2.83 trillion, the lowest since 2012. One month later, we refresh this chart and find that in the latest weekly update, foreign central banks continued their relentless liquidation of US paper held in the Fed’s custody account, which tumbled by another $22.3 billion in the past week, pushing the total amount of custodial paper to $2.805 trillion, another fresh post-2012 low.
Then today, in addition to the Fed’s custody data, we also got the latest monthly Treasury International Capital data, which showed that the troubling trend presented last one month ago, has accelerated. Recall that a month ago, we reported that in the latest 12 months we have observed a not so stealthy, in fact quite massive $343 billion in Treasury selling by foreign central banks in the period July 2015- July 2016, something truly unprecedented in size and scope. Continue reading »
None of the following about the EU will come as a surprise to most of you, but the language used by Otmar Issing is nevertheless pretty remarkable.
The Telegraph reports:
The European Central Bank is becoming dangerously over-extended and the whole euro project is unworkable in its current form, the founding architect of the monetary union has warned.
“One day, the house of cards will collapse,” said Professor Otmar Issing, the ECB’s first chief economist and a towering figure in the construction of the single currency. Continue reading »
“From a growth rate perspective, the speed of credit expansion is alarming. The current pace of credit growth in China is realistically in a range between 19% and 20%, well above the reported official TSF growth of 12.4% and new loan growth of 13.0% in September. Relative to GDP, China’s credit-to-GDP ratio currently in a range from 260% to 275% of GDP as of September 2016″ – Barclays
H/t reader squodgy:
“Just wondering how much longer the Rothschilds can keep it afloat.”
The Euro “will collapse” as it is a”house of cards” warned Otmar Issing, the founder and creator of the euro in an extraordinary interview on Monday.
In the explosive interview with the journal Central Banking, Professor Issing, said “one day, the house of cards will collapse” as the European Central Bank (ECB) is becoming dangerously over-extended and the whole euro project is unworkable in its current form.
The founding architect of the monetary union has warned that Brussels’ dream of a European superstate will finally be buried amongst the rubble of the crumbling single currency he designed. Continue reading »
H/t reader squodgy:
“This is just for starters. Next the Govt will have RT removed from freeview television.
Then Google will mysteriously have difficulty finding the server….error 404.
Ominous…..we need at least two opposing versions of all news items to enable a modicom of truth to filter through, and we cannot trust or believe Zionist media outlets or the government controlled BBC.
Suspicious bloggers think Obama/Clinton are behind it….which means the hidden hand of the Rothschilds has orchestrated it.”
As reported earlier, in a somewhat stunning announcement that puts into question the freedom of speech and press in the UK democracy, RT’s editor in chief alleged, and NatWest later confirmed, that the Russian media outlet’s bank accounts in the UK had been blocked by the bank owned by the previously nationalized RBS.
In a letter to RT’s London Office, NatWest said, “we have recently undertaken a review of your banking arrangements with us and reached the conclusion that we will no longer provide these facilities.” The bank added that the entire Royal Bank of Scotland Group, of which NatWest is part of, would refuse to service RT.
“We have no idea why it happened, because neither yesterday nor the day before yesterday, nor a month ago, nothing special happened to us, nobody threatened us in any way. Hypothetically, this may have something to do with new British and American sanctions against Russia, which may be announced soon. It may not. Our legal department is dealing with the issue now,” Margarita Simonyan told RBK business news website.
Commenting on the development, Russian Foreign Ministry spokesperson Maria Zakharova said it indicated that “Britain on its way out of the EU abandoned all its commitments to protect the freedom of speech.” “I sincerely hope that there’s no political motive for this, because we know that the British government isn’t happy with RT in Britain,” publisher Marcus Papadopoulos told RT. Continue reading »
India will become the world’s number 2 miner of coal by 2020, overtaking the US. There are plans to ramp up from mining 634 million tons to 1.5 billion metric tons by 2020. That’s only 3 years away. China’s total coal use doesn’t even fit on this graph. As best as anyone can guess, China uses 3.7 billion ton each year.
H/t reader kevin a.
H/t reader squodgy:
“Just joining dots.
Vlad just decided to cut oil production to force Saudi Arabia to fill the void at the promised very low prices, whilst warring with Yemen and funding ISIS.
I’d call it a haemorrhage for the arabs. Clever ploy by Vlad.”
H/t reader squodgy:
“Now this really IS writing on the wall….
If people are just NOT eating out, then we have a serious problem.
It is part of the American Social & Gastronomical Culture.
But to give up what has become habit, must be serious, so what is the cause?
While the latest government retail spending data shows that while it is slowing down, consumer spending on “eating out” or retail and food service sales, hasn’t posted a sharp deterioration, secondary tracking sources beg to differ. A far more accurate tracker of real-time US Restaurant sales, that of the National Restaurant Association’s Restaurant performance index, paints a far more disturbing picture.
This hasn’t happened since the Financial Crisis.
Total US freight rail traffic, as measured in carloads and intermodal units, fell 6.1% in the week ended October 8, from the same week last year, the Association of American Railroads reported today. It was down 10% from the same week two years ago!
Both of its components were down: Carloads – transporting oil, coal, grains, chemicals, and the like – fell 5.9% in the week, to 264,165 loads. Intermodal (containers and trailers), which accounts for about 46% of total traffic, fell 6.4% from a year ago, and 6.5% from two years ago. Continue reading »
H/t reader squodgy:
“Bloody hell….all my life I always got blamed.
But this time I’m really sorry, I voted Brexit and my vote is the reason for the World Economic Collapse.
So sorry everybody.”
Those people that have any doubts about where the narrative is headed for global economic stability simply have not been paying attention lately.
As I pointed out in my pre-Brexit referendum article, Brexit: Global Trigger Event, Fake Out Or Something Else?, the story being scripted by the globalists is one of the “failures and crimes” of conservative movements. I predicted that the Brexit would pass based on this language used by international financiers and elites leading up to the vote. Continue reading »
More than a third of all Americans can’t pay their debts. I don’t know about you, but to me that is a shocking figure. As you will see below, 35 percent of the people living in this country have debt in collections. When a debt is in collections, it is at least 180 days past due. And this is happening during the “economic recovery” that the mainstream media keeps touting, although the truth is that Barack Obama is going to be the only president in United States history to never have a single year when the economy grew by at least 3 percent. But at least things are fairly stable for the moment, and if this many Americans are having trouble paying their bills right now, what are things going to look like when the economy becomes extremely unstable once again.
It has been nearly four years since one of the most infamous, and still largely unexplained, banker “suicides” took place, the first in a series of many: we are talking about the death of the director of communications at Monte dei Paschi di Siena, David Rossi, who allegedly jumped to his death on March 6, 2013.
Since this event has largely faded away from the public consciousness here is a quick recap: David Rossi, who was the head of communications for Monte dei Paschi di Siena bank, which was founded in 1472 and which is currently seeking to finalize its third bailout since the financial crisis, died after falling – or being pushed – from a third floor window of the bank’s headquarters in a 14th century palazzo in the Tuscan city of Siena.
His death in March 2013 came at a time when the bank was pushed close to the brink of collapse over a scandal involving the loss of hundreds of millions of euros through risky investments.
While a quickly cobbled together post-mortem found that Rossi, 51, had killed himself, his family strongly suspected that he was murdered because he knew too much about the bank’s shady financial deals. As a result, earlier this year, prosecutors in Siena, where the bank is based, ordered his body to be exhumed and for the trajectory of his fall to be simulated, in an attempt to discover exactly how he died. Continue reading »
If anyone ever asks you how much debt there is in the world, now you will know the answer. According to the IMF, the total amount of debt around the globe has now hit a staggering 152 trillion dollars. That is an amount of money that is almost unimaginable, and the IMF says that it is equivalent to 225 percent of global GDP. It is the biggest debt bubble in the history of the planet, and it is rising at an extremely alarming pace. Experts all over the world agree that when this debt bubble finally bursts, it is going to create an economic crisis on a scale that humanity has never seen before. Continue reading »
… as the FT writes, his offenses carry sentences totaling up to 380 years.
Meanwhile, sunbathing on a beach somewhere…
In one of the most ridiculous perversions of justice, last April the SEC flipped its official narrative over the May 2010 flash crash, when it moved away from its closely held “explanation” that the 1000 point plunge in the Dow Jones was due to a trade by Waddell and Reed, and instead blamed a sole operator, London-based futures trader, Navinder Singh Sarao, who had lived with his parents (although he did not trade from the basement) for the fiasco.
After he was officially charged in 2015, for the past year and a half, Sarao had fought a long extradition battle with US prosecutors which he officially lost earlier today, when British Lord Justice Gross and Justice Nicol ruled he was to face extradition to the US. The duo said their reasons for the ruling would be set out “in due course”, according to the FT. The ruling means Sarao’s guilt or innocence will be determined in the US, where the HFT lobby has supreme authority, and not in British courts. Continue reading »
The hits for Deutsche Bank just keep on coming. One day after a report that the German lender has imposed a hiring freeze in the latest bid to reassure investors that it has expenses under control and is stemming the outflow of cash, moments ago Reuters reported that Deutsche Bank’s finance chief told his staff that job cuts at the bank could be double that planned, a step that could remove 10,000 further employees.
Such cuts would likely take many years but setting such a goal could reassure investors that the bank is determined to tackle costs that sources said the European Central Bank sees as bloated. Unless, of course, they are forced to cut much faster. If 10,000 job losses were ultimately to follow the 9,000 announced by management in October 2015, roughly one in five of the bank’s workforce around the globe would be affected. Continue reading »
Preparing the people for what is coming.
When was the biggest market crash of all time (23% in one day)? – in an October, just after a Shemitah (a little less than 3 weeks after) – It was Black Monday in 1987.
Continue to prepare for the greatest financial collapse in world history.
The technical analysis team at HSBC is warning recent stock market moves look eerily similar to just before 1987’s ‘Black Monday’, which saw the largest one-day market crash in history.
On October 19, 1987, the Dow Jones Industrial Average which comprises the 30 large US publicly traded companies, lost 22.6 percent of its value.
— Bloomberg Markets (@markets) October 12, 2016
In a note to clients released Wednesday, Murray Gunn, the head of technical analysis for HSBC, said he was on red alert for an imminent sell-off in stocks in the light of the price action over the past few weeks. Continue reading »
US import prices have now fallen year-over-year for 26 straight months – the longest non-recessionary streak in US history. The 1.1% decline is slightly worse than expected as China’s exported deflation was flat at 6 year lows but UK ‘exported’ the most deflationary pressure.
26 months in a row… probably nothing.