Or Why the Market Was Down for 7 Days in a Row
We are witnessing an epic battle between two banking giants, JPMorgan Chase (Paul Volcker) and Goldman Sachs (Geithner/Summers/Rubin). Left strewn on the battleground could be your pension fund and 401K.
The late Libertarian economist Murray Rothbard wrote that U.S. politics since 1900, when William… »
This article was first published in October 2009.
Oil in Haiti and Oil Refinery – an old notion for Fort Liberte as a transshipment terminal for US supertankers – Another economic reason for the ouster of President Aristide and current UN occupation (Haiti’s Riches:Interview with Ezili… »
People have asked whether moving your money from your giant bank to a small community bank or credit union will have any real affect on the too big to fails, given that most of their profits come from speculative investments instead of normal banking deposits.
According… »
The world has come to a line in the sand. Over one and a half billion people live in abject poverty today. Millions die each year of malnutrition or from… »
Fresh on the heels of a Dutch investigation into the conflicts of interest of their chief influenza advisor and the bombshell announcement that the Council of Europe will be probing… »
The Financial Crisis Inquiry Commission Hearings
You almost could hear the bankers heave a sigh of relief when Haiti’s earthquake knocked the Financial Crisis Inquiry Commission hearings off the front pages… »
It is said that a near-death experience forces one to reevaluate priorities and values. The global economy has just escaped a near-death experience. The crisis exposed the flaws in the… »
At the start of the last decade, in March 2000, the European Union heads of state announced the Lisbon Strategy. Its aim, by 2010, was to make Europe “the most… »
To anybody interested in the future of the earth’s climate, the conclusion of the Copenhagen conference represents either colossal disappointment or profound rage. The financial pledges— if honored— that rich… »
“Nobel Peace Prize Winner Barack Obama, is Preparing for War in South America”; Interview with Eva Golinger
Mike Whitney—-The US media is very critical of Venezuelan President Hugo Chavez. He’s frequently… »
The Story of Stuff is a 20-minute film that takes viewers on a provocative and eye-opening tour of the real costs of our consumer driven culture—from resource extraction to iPod… »
Preface: I studied global warming at a top university in the early 1980’s. I was taught – as Al Gore was taught in college – that temperatures are directly correlated… »
The crisis of 2008-2009 exposed the U.S. financial system as being unstable, subject to abuse, and tending to favor the rich while putting everyone else deeper into debt.
The housing bubble… »
The president has packed his economic team with Wall Street insiders
The president has packed his economic team with Wall Street insiders intent on turning the bailout into an all-out giveaway
Barack… »
It all started with Sting, this fad for owning one’s very own patch of tropical rainforest, though it is probably unfair to blame him entirely for creating the boom industry… »
Architect of Credit Default Swaps behind the Development of “Carbon Derivatives”
As I have previously shown, speculative derivatives (especially credit default swaps) are a primary cause of the economic crisis.
And… »
The following text (in annex) was published simultaneously by major Newspapers around the World. It constitutes a Worldwide public relations initiative, intended to sway public opinion into unreservedly accepting the… »
Questions for Bernanke’s Senate Confirmation Hearing
The Senate Banking Committee will be chatting with Ben Bernanke this Thursday to vote on his reappointment.
Demand that the Committee ask the following questions for… »
Will Dr. Evangelos Michelakis’ Invention be blocked by a Profit Driven Pharmaceutical Industry?
University of Alberta Researcher Dr. Evangelos Michelakis has developed an effective drug which can be used to treat… »
The default in Dubai is not the beginning of Financial Meltdown 2. Don’t look for dominoes here. Yes, it does raise serious questions about the vast debt-overhang in emerging economies–particularly… »
A Paradigm Shift: APEC Offers No Clear Answers
Like scores of journalists, I attentively listened as Singapore Prime Minister Lee Hsien Loong delivering his closing remarks, and for the last time… »
“We are completely dependent on the commercial Banks. Someone has to borrow every dollar we have in circulation, cash or credit. If the Banks create ample synthetic money we are… »
The United States does not control its own destiny. Rather it is controlled by an international financial elite, of which the American branch works out of big New York banks… »
Whenever I hold my two-year old grandson, Grant, in my arms I wonder what this world will look like six decades from now, when he is my age. I know… »
“Every really successful system of agriculture…..must be based on the long view, otherwise the day of reckoning is certain.” [Sir Albert Howard & Yashwant Wad; The Waste Products of Agriculture;… »
Why the President Warns of a Deeper Drop, Not a Recovery
When I was a kid, a “double dip” was an ice cream cone with two scoops. Yummy,
Today, the same expression… »
Société Générale has advised clients to be ready for a possible “global economic collapse” over the next two years, mapping a strategy of defensive investments to avoid wealth destruction.
In a… »
The Wave Is gathering force & could hit between the first & second quarter of 2010
Many of my friends who have been receiving my e-mail alerts over the last two… »
Ever wonder why you succumbed, yet again, to advertising hype or deceptive packaging and overpaid for a product? Or bought securities that you know were overvalued when the herd instinct… »
HOW much political power can one number exert? Gross domestic product (GDP) is a strong candidate for the world’s most potent numerical indicator. Politicians use it to rank states in… »
What Is India and China Doing That Malaysia Has Neglected To Do?
On 27th August 2009 I wrote an article, “An Appeal To Malaysia’s Prime Minister Cum Finance Minister – Re-Examine… »
Interest rates. The Fed does not need slinky women in plunging necklines to peddle money. All it needs is low interest rates. When rates are pushed lower than the rate… »
Greg Gordon: There is nothing that can prohibit or stop the Wall St. firms from making secret bets.
Bio: Greg Gordon, an investigative reporter, has spent 30 years uncovering waste, fraud,… »
Goldman climbed into bed with New Century Financial Corp’s unreviewed and off shore deals.
Goldman Sachs was among the last Wall Street giants to enter the lucrative world of subprime mortgages,… »
Inside investment circular were the details of a secret $2 billion deal channeled through a tax haven.
Inside the thick Goldman Sachs investment circular were the details of a secret, $2… »
Goldman didn’t tell buyers of $40 billion in securities it was secretly betting the other way
In 2006 and 2007, Goldman Sachs Group peddled more than $40 billion in securities backed… »
McClatchy’s Greg Gordon reports that Goldman knew that mortgages were not being properly reviewed
Transcript:
GREG GORDON, MCCLATCHY (VOICEOVER): This is Greg Gordon of McClatchy Newspapers. When the housing bubble burst and… »
Pouring money into the private banking system has only fixed the economy for bankers and the wealthy; it has not done much to address either the fundamental problem of unemployment… »
Worldwide, industrial mono-culture farming has displaced traditional food production and farmers, wreaking havoc on food prices and food sovereignty. This is particularly true for the global south, where land has… »
The support and positions of various foreign governments in regards to the diabolic fighting between the Tamil Tigers and the Sri Lankan military, which cost the lives of thousands of… »
Since 1947, India has not fully pledged itself to any camp or global pole during the Cold War and as a result was a founding member of the Non-Aligned Movement… »
It has been a particularly bad month for the pharmaceutical industrial complex in its ongoing litigations in American courts. Among the main pharmaceutical headlines, Merck’s Gardasil vaccine for HPV, now… »
On February 1, 1960, four students sat down at a lunch counter at
the former Woolworth’s store in Greensboro North Carolina.
4 students! Just four!
They were protesting racial segregation. They were denied,
service,… »
Causes, consequences and appropriate economic policies
Introduction
The deep and ongoing crises of leading capitalist countries, especially the
United States, has provoked a debate over the causes, consequences and appropriate policies to remedy… »
Our view is that the elitists are currently buying time for the dollar, and stalling the rally in precious metals, by weakening other currencies until they are ready for the… »
GrillzillaWilliam K. Black – professor of economics and the senior regulator during the S & L crisis – says that that the government’s entire strategy now – as during the… »
Review of Thomas Greco’s book
It’s too late for anyone to pretend that the U.S. government, whether under President Barack Obama or anyone else, can divert our nation from long-term economic… »
State and local leaders are considering creating publicly owned banks that can funnel credit to where it is needed most: directly into the local economy.
The credit crunch is getting worse… »
I was dismayed when I heard Obama was given the Nobel Peace Prize. A shock, really, to think that a president carrying on wars in two countries and launching military… »
Thousands of alternatives to the punishing corporate model have sprouted up across the US, building up an alternative economy as Wall St. crumbles.
America is in the midst of a new… »
Outgoing General Assembly prez says most powerful are to blame for UN failure to address war and poverty
As he leaves the office of the President of the UN General Assembly,… »
A special focus on the International Monetary Fund and whether it is suited for its purpose. There were violent protests on the streets of Istanbul as the IMF held its… »
Source: The Real… »
Arab oil producing nations and the some world’s largest oil consumers including China and Japan are reliably reported to be secretly planning a long-term exit from pricing their oil trade… »
In 2009, China opened up various exchanges for investment in both gold and silver to the Chinese public, which previously was not allowed to invest in gold and silver. The opening… »
A year after the bankruptcy of Lehman Brothers on September 15, 2008, questions still swirl around its collapse. Lawrence MacDonald, whose book A Colossal Failure of Common Sense came out… »
Focus on the face at the top of Federal Reserve neglects questioning the institution and the system
President Obama has re-nominated Ben Bernanke to sit as Chairman of the Federal Reserve… »
Text presented to the American Monetary Institute 2009 Conference
It is not difficult to come up with methods to solve today’s economic crisis through monetary reform. Many of us are doing… »
Companies from US, UK and Australia have the most concentrated financial power.
A recent analysis of the 2007 financial markets of 48 countries has revealed that the world’s finances are in… »
The great electrification projects of the 19th and 20th centuries created a world where (at least in developed countries) electricity is as common as clean water. They also created a… »
One year after the collapse of Lehman Brothers triggered financial turmoil around the world
By Channel 4 News
One year after the collapse of Lehman Brothers triggered financial turmoil… »
Obama’s PhRMA deal
Obama’s strategy was to vilify the drug companies and then cut deals with them in secret
The unlikely union of Pharmaceutical Research and Manufacturers of America or PhRMA and… »
Although the Department of Commerce claims that GDP measures the final value of goods and services produced in the United States in a given period of time, it merely measures… »
“Over the course of the next few months, with the assistance of our partners in the private and public sector and at every level of government, we will move aggressively… »
The vaccines are far more deadly than the swine flu. Mass vaccinations is a recipe for disaster Dr. Mae-Wan Ho and Prof. Joe Cummins
This report has been submitted to Sir Liam… »
In writing my new book Hoodwinked (Random House, Nov 2009 publication date), I recently visited Central America. Everyone I talked with there was convinced that the military coup that had… »
Michael R. Taylor’s appointment by the Obama administration to the Food and Drug Administration (FDA) on July 7th sparked immediate debate and even outrage among many food and agriculture researchers,… »
U.S. soldiers (L) and an Afghan policeman keep watch near a building which is held by the Taliban in Logar, south of Kabul August 10, 2009. REUTERS/Ahmad Masood
KABUL — It… »
Scientists must ask corporations for permission before publishing independent research on genetically modified crops
Advances in agricultural technology—including, but not limited to, the genetic modification of food crops—have made fields more… »
Richard Posner writes in the FT. Read the whole thing!
I doubt academic economists are to blame for the crisis in any direct sense — the real perps are on Wall… »
The Bush administration has tried everything to drive a wedge between Iran and Russia – to no avail. The Obama administration now has to deal with some pretty established facts… »
Entering the Greatest Depression in History
Introduction
While there is much talk of a recovery on the horizon, commentators are forgetting some crucial aspects of the financial crisis. The crisis is not… »
Bankrupt US Financial System: The Bubble Bursts and the Economy goes into a Tailspin.
We’re making this way too complicated. It’s simple really.
The Fed has only one tool at its disposal;… »
In the wake of the failure of the Icelandic banks Messrs Brown, Barroso and Strauss-Kahn prove that they have understood nothing
From G8 to G20, many heads of state and government… »
Stealing the Indigenous area of Northern Great Turtle Island
More colonial subterfuge! Canada, US, Russia, Norway, Denmark and other imperialist entities are trying to steal the Indigenous area of northern Great… »
Continuing the pattern by top Canadian federal officials over the past year of issuing blunt and bravado statements aimed at Russia over the Arctic, on August 1 Defence Minister Peter… »
In the real economy, unemployment is at Depression-era levels (see this, this and this).
In the real economy, bank loan loss rates will be higher than the Depression.
In the real economy,… »
On its July 18, 2009, edition The Economist on article on Bolivia (“Bolivia’s divisive president. The Permanent Campaign”, July 18), asserted that “Venezuelan troops helped quell a rebellion centred on the… »
Fed Chairman Ben Bernanke is a man who knows how Washington works and uses that knowledge to great effect. His appearances on Capital Hill are always worth watching. He sits… »
Alan G. Philips is an attorney with the following credentials:
– he’s one of the few American lawyers whose practice includes vaccine exemption and waiver issues;
– he advises other attorneys seeking… »
The global financial and economic crisis has hit the small Baltic country Latvia harder than any single country with the possible exception of Iceland. As part of its attempt to… »
“Blowing Bubbles” and “Using Palliatives” which “Make Things Worse”
BIS Slammed Federal Reserve and Other Central Banks for Blowing Bubbles and then “Using Gimmicks and Palliatives” which “Will Only Make… »
“By 1853, Parliament began passing laws to make the untested vaccine compulsory throughout the British Empire. Other countries of Europe followed suit. Once the economic implications of compulsory vaccinations were… »
At the start of this week, German-based Deutsche Bank announced a huge increase in its profits. The bank reported a net profit of €1.1 billion in the second quarter of… »
International media attention is focused this week on the visit of the US Secretary of State, Hilary Clinton, to seven countries in Africa. Judging by the behaviour of representatives of… »
A senior OECD official says the global financial crisis is far from over and the world faces a serious risk of another credit crunch and a double dip recession.
Adrian Blundell-Wignall… »
The Conservatives have pledged to hand the Bank and its Governor Mervyn King power to control the balance sheets of all Britain’s major banks and finance houses, as well as… »
Bank of America Corp is operating under a secret U.S. regulatory sanction that requires it to overhaul its board and address perceived problems with risk and liquidity management, The Wall… »
Saudi Prince Bandar bin Sultan, the kingdom’s former ambassador to the United States, is reportedly under house arrest over a conspiracy against the monarch.
Saad al-Faqih, head of the opposition group… »
William White predicted the approaching financial crisis years before 2007’s subprime meltdown. But central bankers preferred to listen to his great rival Alan Greenspan instead, with devastating consequences for the… »
Barack Opharma issues the ultimate bad news during his weekly Friday night bad news dump: Legal immunity set for swine flu vaccine makers 17 Jul 2009 The last time the… »
President Obama has repeated his call for a public option in health care, in order to create some competition for the insurance companies and keep them honest. We the people… »
“The empire of the dollar is crashing.” Hugo Chavez, Venezuelan President
“The U.S. dollar is a worthless piece of paper.” Mahmoud Ahmadinejad, Iranian President
[The U.S. dollar is] “losing its status as… »
Upswing in stocks comes from profits due to cutbacks and concessions, worse is yet to come
Richard Wolff says workers have to get organized and change their strategic objectives. They have… »
Scientific Tests Must Be Approved by Industry First
One of the great mysteries surrounding the spread of GMO plants around the world since the first commercial crops were released in the… »
For over 30 years, F. William Engdahl has been a leading researcher, economist, and analyst of the New World Order with extensive writing to his credit on energy, politics, and… »
Introduction
Humanity is on the verge of entering into the most tumultuous period in our history. The prospects of a global depression, the likes of which have never been seen before;… »
With a view to restoring financial stability, World leaders have called upon the Group of 20 countries (G-20) to instigate a new global currency based on the IMF’s Special Drawing… »
California has over $17 billion on deposit in banks that have refused to honor its IOUs, forcing legislators to accept crippling budget cuts. These austerity measures are unnecessary. If the… »
The Case of British Columbia
Remember when they called it “swine flu”? The first pandemic flu in 41 years was quickly renamed “H1N1” in its early days after the pig industry,… »
