Apr 13


Horse meat in my pasta? The rise of food fraud

In a quest for profit, fraudsters mislabel and adulterate food. In addition to potential health problems, it costs the food industry billions.

- Rising prices aid $15B food fraud problem (CNBC, April 13, 2014):

From meatballs made with horse to fake extra virgin olive oil and salmonella in peanuts, food fraud has been grabbing national headlines. And, according to experts, the problem is only increasing with rising food costs and more widespread importation of food.

The Food and Drug Administration says 15 percent of the U.S. food supply is imported and experts say food fraudsters are using the difficulty in tracing foreign imports to their advantage. The largest food fraud in U.S. history was when Chinese honey was shipped through other Asian nations to disguise its origins and evade import duties of $180 million, according to the Department of Justice.

The Department of Agriculture predicts food prices will rise between 2.5 and 3.5 percent this year. And while the consumer price index was up 0.1 percent in February, the food index rose more sharply, at 0.4 percent. The March consumer price index will be released on April 15.

Food fraud, which the Grocery Manufacturers Association estimates costs the industry between $10 billion and $15 billion a year, occurs when products are adulterated or purposely mislabeled. Some of the most commonly tampered products are household staples like honey, olive oil, juice and seafood.

Continue reading »

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Apr 03

- Water Liberty (Adya Clarity) exposed for deceptive marketing, high aluminum and science research fraud (Natural News, April 2, 2014)

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Mar 30

- Con men stopped entering Vatican bank with €3 trillion of fake bonds (Telegraph, March 30, 2014):

Police in the Vatican have prevented a pair of fraudsters from trying to enter the Vatican bank with a suitcase stuffed with trillions of euros of fake bond certificates

Two smartly-dressed men armed with forged bond certificates worth trillions of euros have been caught while trying to talk their way into theVatican’s bank, in a spectacularly bungled fraud scheme.

The middle aged men, an American and a Dutch citizen of Malaysian origin, arrived at the main gate of the Vatican on the morning of March 11, telling Swiss guards they had an appointment at the bank, which has been dogged by scandals over the years.

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Mar 15

- Massive Fraud Has Been Unveiled at the EPA (Again) (Liberty Blitzkrieg, March 12, 2014):

While I doubt anyone reading this will be shocked by major fraud at the Environmental Protection Agency (EPA), the potential extent of the fraud is huge, and we still have no idea how big it is.

A report released by the EPA’s Inspector General found that over 90% of sampled transactions were for “prohibited, improper, or erroneous purchases.” Worst of all, the sample size was extremely small at only 80 transactions out of 67,000 transactions during the sample period. Considering EPA cardholders spent $29 million in taxpayer dollars in 2012 with a potential 90% fraud rate, you do the math.

Oh, but the story gets even better (or worse, depending on your perspective). Examples of egregious fraud at the EPA have been well documented in the past, in fact as recently as in 2008. Absolutely nothing was done about it.

More from Americans for Tax Reform:

A report released by the Environmental Protection Agency’s Inspector General has found that EPA employees have improperly used federal charge cards to purchase everything from gym memberships to gift cards. The report indicated that over 90 percent of the sampled transactions were for prohibited, improper, or erroneous purchases, all paid for by American taxpayers. Ironically, Senate Democrats Monday night carried on an all-night filibuster in the hopes of generating even more power and funding for the EPA.

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Feb 15

- Colorado Health-Exchange Director Indicted for Fraud, Theft (National Review, Feb 13, 2014):

The director of Colorado’s health exchange has been placed on administrative leave after the state discovered she had been indicted for stealing from a non-profit, the Denver Post reports:

[Christa Ann] McClure, 51, pleaded not guilty Feb. 6 in federal District Court in Montana to eight counts of theft and fraud from a nonprofit housing agency in Billings.

She was indicted Jan. 16 and notified her current Denver employer, the state-sponsored health exchange, on Monday, a few days after the story broke in Montana media, Connect for Health spokesman Ben Davis said in a telephone interview.

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Dec 27

- ISU Researcher Quits Amid Allegations Of $19M AIDS Vaccine Fraud: Dr. Dong-Pyou Han Faked HIV-Resistance Test Results (Medical Daily, Dec 26, 2013):

Iowa State University researcher, Dr. Dong-Pyou Han, resigned after news broke of an investigation into the validity of his AIDS research. Han is believed to have tampered with research results for a possible AIDS vaccine.

“At Iowa State’s request, the research samples in question were examined by researchers at another university; they confirmed samples had been spiked,” ISU spokesman John McCarroll wrote in an email to the Des Moines Register. “He later admitted responsibility and resigned from Iowa State, effective Oct. 4, 2013.”

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Nov 13

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- Vietnam Shows How To Clean Up The Banking System: Ex-Banker Faces Death Penalty For Fraud (ZeroHedge, Nov 13, 2013):

The lack of prosecution of bankers responsible for the great financial collapse has been a hotly debated topic over the years, leading to the coinage of such terms as “Too Big To Prosecute“, the termination of at least one corrupt DOJ official, the revelation that Eric Holder is the most useless Attorney General in history, and even members of the judicial bashing other members of the judicial such as in last night’s essay by district judge Jed Rakoff. And naturally, the lack of incentives that punish cheating and fraud, is one of the main reasons why such fraud will not only continue but get bigger and bigger, until once again, the entire system crashes under the weight of all the corruption and all the Fed-driven malinvestment. But what can be done? In this case, Vietnam may have just shown America the way - use the death penalty on convicted embezzling bankers. Because if one wants to promptly stop an end to financial crime, there is nothing quite like the fear of death to halt it.

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Nov 11

- More CRIMINAL fraud: ‘Obamacare’ transfers $100-$300 billion/year from 99% to 1% (Examiner, Nov 10, 2013):

I wrote in 2010 that so-called “Obamacare” is economic fascism because it dictatorially transfers $100 billion to $300 billion every year from the 99% to 1% so-called “health care” oligarchs, according to every cost-benefit analysis compared to single-payer universal health care that I could find. “Obamacare” is also criminal fraud by US government so-called “leaders” because they have legal fiduciary responsibility to fully communicate options in trust of public money.

OBVIOUSLY, failure to communicate annual savings of $100 billion to $300 billion while transferring this to 1% oligarchs points to massive crime.

Moreover, stories that point to tragic-comic cost increases and cancellations strengthen the case for criminal investigation of financial gains from government insiders at the expense of the public they’re sworn to serve.

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Nov 06

- British taxpayers liable for £800m of misspent EU funds (Telegraph, Nov 5, 2013):

British taxpayers are liable for over £800 million of misspent EU funds as Brussels error rate increases by 23 per cent

The European Union wasted almost £6 billion last year – including £800 million from British taxpayers – on fraudulent, illegal or ineligible spending projects, official auditors have found.

At a time of unprecedented European-wide austerity, the EU mis-spent almost 5 per cent of its budget in 2012 on projects that should never have received any of its money.

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Sep 27

Exposed: Enron billionaire’s diabolical plot to loot worker pensions (Salon, Sep 26, 2013):

How an Enron billionaire, Wall Street and a major “nonpartisan” foundation are quietly robbing American workers

This Pew-Arnold partnership began informally in 2011 and 2012 when both organizations marshaled resources to try to set the stage for retirement benefit cuts in California, Florida, Rhode Island and Kansas. With legislative success in three of those four states, Pew and Arnold created a formal partnership in late 2012 that targeted another three states, Arizona, Kentucky and Montana.

This formal partnership continues today, with the organizations issuing joint reports and conducting joint legislative briefings advocating cuts to guaranteed retirement income. It is widely expected that this partnership will continue working in these same states and potentially expand operations into Colorado, Pennsylvania, Oklahoma and Nevada.

Should an Enron Executive Be Dictating Public Pension Policy?

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Sep 26

- How Dianne Feinstein’s Husband Sells Post Office Real Estate to His Friends on the Cheap (Liberty Blitzkrieg, Sep 25, 2013):

The county records allow for comparing the assessed value of the postal properties before they were sold to the final sales prices negotiated by CBRE on behalf of the Postal Service: And the comparisons reveal that CBRE has sold the bulk of this public real estate at prices under their assessed values — and apparently at far below fair market values.

CBRE is also charged with appraising the fair market value of these properties and listing a reasonable sales price. It is important to point out that real estate appraisals are not customarily performed by the agent marketing the property. To avoid conflicts of interest, property appraisals are normally performed by professionals not involved in negotiating the sale.

- Peter Byrne from his book Going Postal

We’ve all heard about how the Russian oligarchs amassed their tremendous fortunes in the wake of the collapse of the former Soviet Union by purchasing valuable assets for pennies on the dollar using shady insider deals. The oligarchs in the USA have learned their lessons in crony capitalism well, and unsurprisingly, the apple doesn’t fall far from the tree in this case. Dianne Feinstein is one of the most shameless, authoritarian, undemocratic Senators we have, so it is no surprise that the Princess of Darkness’ husband would be involved in schemes to rip-off public assets to benefit friends and his commercial real estate firm C.B. Richard Ellis.

The following excerpts are from an article published in the East Bay Express and consists of passages from the introductory chapter of a new e-book, Going Postal, by investigative journalist Peter Byrne. There is some epic fraud going on here: Continue reading »

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Sep 11

- Money Laundering Exposed As A Key Component Of The Housing Bubble’s “All Cash” Bid (ZeroHedge Sep 10, 2013):

In August 2012, when isolating one of the various reasons for the latest housing bubble, we suggested that a primary catalyst for the price surge in the ultra-luxury housing segment and the seemingly endless supply of “all cash” buyers (standing at an unprecedented 60% of all buyers lately as reported by Goldman) is a very simple one: crime. Or rather, the use of US real estate as a means to launder illegal offshore-procured money. We also identified the one key permissive feature which allowed this: the National Association of Realtors’ exemption from Anti-Money Laundering provisions. In other words, all a foreign oligarch – who may or may not have used chemical weapons in their past: all depends on how recently they took their picture with the Secretary of State – had to do to buy a $47 million Florida house, was to get the actual cash to the US. Well good thing there are private jets whose cargo is never checked.

This is how we framed the problem last August:

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Jul 18

- WTC insurance fraud? Silverstein “trial” runs Monday through Wednesday (Veterans Today, July 15, 2013):

Is this the world’s worst case of insurance fraud…ever?

That’s what many are saying, as the world’s biggest real-estate swindler and the world’s most corrupt judge meet in a Manhattan courtroom on Monday, Tuesday, and Wednesday. At issue: billions of dollars in loot from the demolition of the World Trade Center complex on September 11th, 2001.

World Trade Center owner Larry Silverstein – who confessed on national television to “pulling” World Trade Center Building 7 – will appear in the courtroom of Judge Alvin Hellerstein at 500 Pearl St. in New York City. The non-jury trial, which is expected to last three days, will decide whether Silverstein is entitled to recover $3.5 billion from airlines and airport-related companies, in addition to the $4.9 billion he has already received for his “losses” on September 11th.

The question on everyone’s mind is: Why is Silverstein claiming that airliners destroyed his buildings, when he has already confessed to demolishing at least one of them himself? In the 2002 PBS documentary “America Rebuilds,” Silverstein admitted to complicity in the controlled demolition of WTC-7, a 47-story skyscraper that dropped into its own footprint in 6.5 seconds.

The mysterious destruction of Building 7 has become the Rosetta Stone of 9/11. Virtually all independent experts who have studied the case, including thousands of architects and engineers, agree that the government’s explanation – that a few small office fires somehow destroyed WTC-7 – is a non-starter. Building 7, these experts say, was obviously taken down in a controlled demolition, as Silverstein himself admitted. (A nationwide ad campaign called “Re-Think 9/11” will remind millions of Americans about Building 7 this September.)

Despite his confession to demolishing his own building, Silverstein has already received $861 million from insurers for Building 7 alone, as well as over $4 billion for the rest of the Trade Center complex. That $861 million for WTC-7 was paid on the basis of Silverstein’s claim that airplanes were somehow responsible for making Building 7, which was not hit by any plane, disappear at free-fall acceleration.

The insurance companies are not openly accusing Silverstein of insurance fraud, presumably because doing so would threaten to demolish the 9/11 cover-up and bring down the US and Israeli governments at free-fall speed. But they have gone so far as to call Silverstein’s demand for more money “absurd,” a considerable understatement.

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Jul 10

H/t reader M.G.:

“Here is another story, it’s irony won’t be lost on you. Talk about feeding the chicken house to the wolves………..the corruption is so deep, so complete, we don’t have a prayer.”


- NYSE body to run Libor as City attempts to put scandal behind it (Guardian, July 9, 2013):

Move follows decision to strip BBA of its association with benchmark rate, which will be run by a London-based subsidiary

Libor might stand for the London interbank offered rate, but from next year the scandal-hit benchmark rate will be set by the body that runs the New York Stock Exchange in the latest attempt to clean up the City.

Libor, which is used to price $300tn (£192tn) of financial products around the world, has been overseen until now by the British Bankers’ Association (BBA). But its integrity has been questioned after banks and other financial firms were found to have rigged the rate.

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Jul 09

- Vatican Bank facilitated money laundering, report says (PressTV, July 8, 2013):

Italian investigators have said the Vatican Bank operated in a way that facilitated money laundering, according to a leaked inquiry.

The disclosed report followed a three-year inquiry into the bank, officially known as the Institute for the Works of Religion (IOR), and was recently quoted by two Italian newspapers, Corriere della Sera and La Repubblica.

According to the report, IOR did not carry out enough checks on its clients and the bank allowed account holders to transfer large sums on behalf of others.

“There is a high risk that the way the IOR operates, without specifying its real clients, can be used as a screen to hide illegal operations,” the report read.

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Jul 01

- Apparently This MF Global “Clusterfuck” Does Not Deserve Criminal Charges (ZeroHedge, July 1, 2013):

We salute the CFTC for finally, if belatedly, doing the right thing and going after Jon “the bundler” Corzine. However, we wonder, just how is the following documented exchange between Edith O’Brien, MFG’s assistant treasurer, and some MF Global employee, not considered crime-worthy by Eric Holder? Or is the US Attorney General too busy to answer, having to come up with his own alibi to avoid going to jail for lying to Congress under oath?From the MF Global Civil, not Criminal, Complaint

Just prior to 6:30 p.m. ET, O’Brien told Employee #2 on a recorded telephone line that the Firm would not be in compliance with customer segregation rules because funds were not being returned to customer segregated accounts:

O’BRIEN: It is a total clusterfuck . . . . They have to move half a billion dollars out of BONY to pay me back . . . . Tell me how much money is coming in and I will make sure it gets posted. But if you don’t tell me, then tomorrow morning I am going to have a seg problem . . . . I need the money back from the broker-dealer I already gave them. I can’t afford a seg problem.

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Jun 23

- Former Enron CEO Skilling’s prison term cut to 14 years (Reuters, June 21, 2013):

HOUSTON, June 21 (Reuters) – A federal judge on Friday cut former Enron Corp Chief Executive Jeffrey Skilling’s prison sentence to 14 years from 24 years as part of a deal with prosecutors.

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Jun 12

- Summarizing The Known Rigged Markets (ZeroHedge, June 12, 2013):

Following last night’s revelation that FX trading is the latest addition to the “rigged” column, here is a summary of the known market manipulation scandals (because it can be problematic keeping track of all by now):

  • Libor - interest rates (link)
  • ISDAfix – swaps (link)
  • Platts - oil prices (link)
  • WM/Reuters - FX (link)
  • High-Frequency Trading - equities (link)

We also know that the Fed and world central banks are engaged in a full blown (and unprecedented) Treasury curve modeling exercise courtesy of both ZIRP (short-end) and QE (long-end), and that courtesy of some $12 trillion in extra liquidity in the past 5 years, stocks are at an artificial “weath effect” sugar high. Continue reading »

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May 31

- Another Oligarch Wrist Slap: Citigroup Settles in Secret on Housing Fraud Charges (Liberty Blitzkrieg, May 31, 2013):

Guess what just happened?  In case you forgot, the Federal Housing Finance Agency (FHFA) had previously accused Citigroup of violating securities laws and making misrepresentations of billions of mortgage bonds.  Unsurprisingly, Citigroup settled, which is just a euphemism for an “oligarch wrist slap.” What’s really disturbing is that the settlement amount will remain a secret, which takes cronyism to yet another despicable level.  After all, take a look at the man who runs the Treasury Department.

From Bloomberg:

The conservator for Fannie Mae and Freddie Mac was eager for publicity in September 2011 when it sued 17 financial institutions, accusing them of ripping off the two government-backed housing financiers. It isn’t so enthusiastic anymore.

This week the U.S. Federal Housing Finance Agency told a federal judge it had settled its case against Citigroup Inc. The agency won’t say how much money Citigroup is paying. Neither will Citigroup, which survived the financial crisis only because it got multiple taxpayer bailouts. The parties agreed to keep the terms confidential. The government has decided this is none of the public’s business.

The agency had accused Citigroup of violating securities laws and making misrepresentations about $3.5 billion of mortgage bonds that it sold to Fannie and Freddie during the housing bubble, before they were seized by the government. This is the second such lawsuit to be resolved so far. In January, the agency dropped its suit against General Electric Co. after reaching a deal over mortgage bonds sold to Freddie Mac. In that case, too, the terms weren’t disclosed.

This should make every American’s blood boil. The government is devoting taxpayer resources to pursue these claims in court. The public is entitled to know the results. It’s that simple.

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May 28

- Seventy-five percent of honey bought at the supermarket isn’t real honey (Natural News, May 28, 2013):

Large scale tests on US supermarket honey now reveal that roughly 75 percent of honey on the market isn’t even real. According to investigation by Food Safety News, today’s mass produced honey is often times void of real pollen, artificially processed and laundered from China. Honey manufacturing experts and the World Health Organization agree that real honey must contain true microscopic particles of pollen, to be considered real, with an identifiable source. Honey void of pollen is an artificial, nutrition-void, watered-down scam.

Watered down, heated, pressurized honey not real at all

Much of the honey hitting supermarket shelves is derived from an ultra filtering procedure that heats honey to high temperatures, forcing the natural substance at high pressure through extremely small filters to remove pollen. In this way, manufacturers conceal the identity of the source of the honey, which is a technique used by the Chinese, who have illegally dumped tons of their honey on the U.S. market for years. The Chinese are responsible for dumping dangerous antibiotics, artificial sweeteners, and leeching copious amounts of heavy metals into imported honey products.

The Food Safety News investigation

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May 26

- Bill Black: Our System Is So Flawed That Fraud Is Mathematically Guaranteed (Peak Prosperity, May 25, 2013):

[Chris lost his voice this week due to illness, so we were unable to record a new podcast. So while Chris recuperates, enjoy this excellent discussion from the archives with Bill Black, recorded a year ago, on the pervasive control fraud within our current financial system. ~ Adam]

“When plunder becomes a way of life for a group of men in a society, over the course of time they create for themselves a legal system that authorizes it and a moral code that glorifies it.”
~ Frederic Bastiat

Bill Black is a former bank regulator who played a central role in prosecuting the corruption responsible for the S&L crisis of the late 1980s. He is one of America’s top experts on financial fraud. And he laments that the U.S. has descended into a type of crony capitalism that makes continued fraud a virtual certainty while increasingly neutering the safeguards intended to prevent and punish such abuse.

In this extensive interview, Bill explains why financial fraud is the most damaging type of fraud and also the hardest to prosecute. He also details how, through crony capitalism, it has become much more prevalent in our markets and political system.

A warning: There’s much revealed in this interview that will make your blood boil. For example, the Office of Thrift Supervision. In the aftermath of the S&L crisis, this office brought 3,000 administration enforcement actions (a.k.a. lawsuits) against identified perpetrators. In a number of cases, they clawed back the funds and profits that the convicted parties had fraudulently obtained.

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May 24

- Operation Swill: New Jersey Bars Caught Serving Fake Alcohol (Liberty, Blitzkrieg, May 24, 2013):

It’s been a little while since my last food fraud post on rat meat being sold as lamb on the streets on Shanghai.  It’s been an even longer time since the last post on stealth inflation in alcohol when Maker’s Mark announced it was diluting its product (they ultimately backtracked due to consumer outrage).  Well, the following post combines both food fraud and stealth inflation all in one.  Apparently, we can’t even drink in peace anymore.

Pro Tip:  You may want to avoid TGI Fridays when in New Jersey.

From CBS:

TRENTON, NJ (CBS) — The New Jersey Attorney General and the Director of the division of Alcoholic Beverage Control released details Thursday on the investigation into dozens of establishments in the state accused of selling cheap — or even fake — alcohol to customers from premium bottles.
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May 17

@Amazon.com: David Wants to Fly

@Amazon.de: David Wants to Fly (EUR 12,99)

Trailer (English):

YouTube Added: 26.04.2010

Description:

David, a young filmmaker in search of inspiration, decides to try Transcendental Meditation after all, his idol, director David Lynch, has assured him personally that TM is a source of creativity and the key to success. Maharishi Mahesh Yogi, founder of TM, promised creativity, health, professional success, world peace and no less than heaven on earth.

Trailer (German):


YouTube Added: 19.08.2011

Beschreibung:

“David wants to fly” – nominiert für den Cosmic Cine Award “Cosmic Angel” 2011

Continue reading »

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Apr 18

- Fraud Alert: FDA Allowed Drugs with Fraudulent Testing to Remain on the Market (Liberty Blitzkrieg, April 17, 2013):

I’ve said it before and I’ll say it again. Essentially the entire U.S. economy is one gigantic fraud.  No one has honor anymore in this society, it is a totally forgotten and discarded virtue.  The ethos of the land is to take whatever you can however you can.  It doesn’t matter who you hurt or what sorts of immoral acts you need to do to get it.  One of the key dynamics that allows for such blatant theft is that the regulatory agencies that are supposed to protect us are in fact gatekeepers from the criminals in their respective industries.  In the financial area, this manifests with the SEC and CFTC revolving door to Wall Street.  In healthcare, it manifests with the FDA.  I’ve highlighted the FDA’s shadiness previously, most notably in my piece:  The FDA is Caught Spying on its Employees and Creating an “Enemies List.”  Now in this latest story, we find how little the FDA concerns itself with public health.

From Pro Publica:

On the morning of May 3, 2010, three agents of the Food and Drug Administration descended upon the Houston office of Cetero Research, a firm that conducted research for drug companies worldwide.

Continue reading »

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Apr 02

- Another European Politican Exposed As Complete Liar (ZeroHedge, April 2, 2013):

Remember this guy?

This would be Jerome Cahuzac, the French “budget minister” who was tasked with rooting out tax fraud by his socialist “75% tax or the capitalist pigs win” overlord, and who resigned two weeks ago to avoid “hindering” an investigation into allegations he had a secret Swiss account, all the while maintaining his innocence? Well, he was just exposed as the latest lying Eurocrat politicians.

  • FORMER FRENCH BUDGET MINISTER SAYS LIED ABOUT BANK ACCOUNT
  • EX-FRENCH BUDGET MINISTER SAYS HAS HAD THE FOREIGN BANK ACCOUNT FOR ABOUT 20 YEARS
  • EX-FRENCH BUDGET MINISTER SAYS HAD EU600,000 IN FOREIGN ACCOUNT
  • EX-FRENCH BUDGET MINISTER APOLOGIZES TO HOLLANDE, AYRAULT

Where did he make the confession?

  • EX-FRENCH BUDGET MINISTER COMMENTED ON HIS BLOG TODAY

The take home:

  • EX-FRENCH BUDGET MINISTER SAYS `CAUGHT IN SPIRAL OF LIES’

In other words: just another politician.

But that’s ok: it got serious - he could have gone to jail or been fired in disgrace, so naturally he had to lie.

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Mar 28

Bon appétit!


- Food Fraud Hits a New Low with the Potential Emergence of Dog Meat in the UK (Liberty Blitzkrieg, March 28, 2013):

The food fraud story has now progressed from somewhat humorous with the undersized Subway footlong subs, to the highly disturbing with the revelations of horse meat and fake tuna, to the really creepy with the now potential emergence of dog meat in UK lamb curry.  No you can’t print lamb folks, which is exactly why many humans are now eating worse than their pets in the Western world.

A mystery meat, which has defied the best efforts of scientists to identify it, has been found in a lamb curry as part of an investigation into food fraud.

The discovery raises new questions about just what is going into the nation’s takeaways and processed foods.

The meat in a Beef in Black Bean Sauce dish turned out to contain high levels of chicken material including blood, while a burger contained no beef at all, other than blood and heart.

However, most alarming of all was a curry. A spokesman for the programme said: ‘Just when we thought things couldn’t get any worse, the results came in for an Indian Lamb Curry.

‘It did contain meat, but that meat was not lamb, not pork, nor was it chicken or beef. Not horse, and not goat either.

All of the many tests to date by the lab used by the programme have failed to identify exactly which animal was the source of the meat.

Continue reading »

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Feb 08

- Fraudclosure Fail | ROMAN PINO vs THE BANK OF NEW YORK – Florida Supreme Court: We Can’t Stop the Fraud (ZeroHedge, Feb 7, 2013)

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Jan 30

- Libor Lies Revealed in Rigging of $300 Trillion Benchmark (Bloomberg, Jan 28, 2013):

Every morning, from his desk by the bathroom at the far end of Royal Bank of Scotland Group Plc’s trading floor overlooking London’s Liverpool Street station, Paul White punched a series of numbers into his computer.

White, who had joined RBS in 1984, was one of the employees responsible for the firm’s submissions for the London interbank offered rate, or Libor, the global benchmark for more than $300 trillion of contracts from mortgages and student loans to interest-rate swaps. Behind him sat Neil Danziger, a derivatives trader who had worked at the bank since 2002.

Continue reading »

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Jan 18

- Lance Armstrong outs himself as a sociopathic liar in a staged Oprah ‘confession’ that smacks of yet more public image manipulation (Natural News, Jan 18, 2013):

Lance Armstrong has now gone public with his admission of using illegal, banned substances to win his cycling races. In a confession to Oprah Winfrey, Armstrong admitted to doping with EPO, testosterone and blood transfusions during ALL his Tour de France races.

This is the guy who has berated, threatened, intimidated and screamed at anyone over the past decade who dared to suggest that he doped. His highly-aggressive lawyers sued people and organizations who suggested the man doped.

“Lance Armstrong hasn’t just denied ever using performance enhancing drugs, he has done so in an indignant, even threatening way,” reports ABC News.

And now, after a decade of deceptive denial about his own doping, Lance seems ready to rat on his fellow cyclists about their doping habits. “He is also talking to authorities about confessing and naming names, giving up others involved in illegal doping,” says ABC News.

How pathetic does this get? The guy who swore he never doped — and lied to the world year after year, race after race — is now going to point the finger at other cyclists and say “THEY doped!?”

And let me just say, on the record, that anyone who falls for this guy’s grand final manipulation — the staged Oprah apology — you are suckers and fools who have no clue how much you’re being deceived by a truly evil, devious manipulator named Lance Armstrong. Continue reading »

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Jan 03


More on Iceland HERE.


- Executives at collapsed Iceland bank jailed for fraud (Reuters, Dec 29, 2012):

REYKJAVIK (Reuters) – Two former executives at an Icelandic bank which collapsed in the 2008 financial meltdown were sentenced to jail on Friday for fraud which led to a 53 million euro loss, in the first major trial of Icelandic bankers linked to the crisis.

All three of the small North Atlantic island’s top banks collapsed in quick succession in October 2008 due to big debts incurred during a rapid overseas expansion.

Continue reading »

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