Economic Articles from 2015

A Crisis Worse than ISIS? Bank “Bail-Ins” Begin…”Your Life Savings Could be Wiped out in a Massive Derivatives Collapse”

A Crisis Worse than ISIS? Bank “Bail-Ins” Begin…”Your Life Savings Could be Wiped out in a Massive Derivatives Collapse”
By Ellen Brown
Posted December 30, 2015

Cyprus, Greece, Portugal came first, you are nextWhile the mainstream media focus on ISIS extremists, a threat that has gone virtually unreported is that your life savings could be wiped out in a massive derivatives collapse. Bank bail-ins have begun in Europe, and the infrastructure is in place in the US. Poverty also kills.

At the end of November, an Italian pensioner hanged himself after his entire €100,000 savings were confiscated in a bank “rescue” scheme. He left a suicide note blaming the bank, where he had been a customer for 50 years and had invested in bank-issued bonds. But he might better have blamed the EU and the G20’s Financial Stability Board, which have imposed an “Orderly Resolution” regime that keeps insolvent banks afloat by confiscating the savings of investors and depositors. Some 130,000 shareholders and junior bond holders suffered losses in the “rescue.” More…

Meanwhile, Over At The “New York” Stock Exchange: Even More Lasers

Meanwhile, Over At The “New York” Stock Exchange: Even More Lasers
by Zero Hedge
Posted December 29, 2015

high speed traders, making money out of nothingHigh-frequency trading — the practice of making thousands of algorithmic stock trades per minute — is about to get a big boost in the USA. Anova, a company that specializes in deploying low-latency networks for stock trading, is completing an ultra-high-speed laser network between the New York Stock Exchange (NYSE) and the NASDAQ. The link will be just a few nanoseconds faster than the current microwave and fiber-optic links — but in the world of high-frequency trading (HFT), those nanoseconds could result in millions of dollars in profits for the trading companies. Such is the insanity of the stock markets; such is the unbelievable capacity of HFT to create money out of almost nothing.

Because this, ladies and gentlemen, is what “trading” has become. More…

Exposing BlackRock: Who’s Afraid of Laurence Fink and His Overpowering Institution?

Exposing BlackRock: Who’s Afraid of Laurence Fink and His Overpowering Institution?
By Andrew Gavin Marshall
Posted December 27, 2015

Lawrence Fink of BlackRockIt’s not a bank, nor an insurance company, central bank, finance ministry or sovereign wealth fund. But it advises or owns such institutions. It operates virtually unregulated, often in the background, yet there is scarcely a company, country or region of the planet that this, the world’s largest asset management firm, does not touch or influence.

At a mere 27 years of age, BlackRock manages $4.5 trillion in assets, making it the single largest investor on Earth. It manages more wealth than Japan and Germany have in GDP. In fact, only China and the United States have a larger GDP than BlackRock has assets under management. Yet when one includes assets that the company not only manages, but advises upon, the number soars to around $15 trillion, roughly equal to US GDP. More…

If We Don’t Change the Way Money Is Created and Distributed, We Change Nothing

If We Don’t Change the Way Money Is Created and Distributed, We Change Nothing
by Charles Hugh Smith
Posted December 26, 2015

Many well-intended people want to reform the status quo for all sorts of worthy reasons: to reduce wealth inequality, restore democracy, create good-paying jobs, and so on. All these goals are laudable, but if we don’t change the way money is created and distributed, nothing really changes: wealth inequality will keep rising, governance will remain a bidding process of the wealthy, wages will continue stagnating, etc.

If the money creation/distribution system isn’t transformed, “reform” is nothing more than ineffectual policy tweaks that offer do-gooders the illusion of progress.

Few are willing to admit that the way we create and distribute money at the top of the wealth pyramid necessarily generates increasing wealth inequality because once we admit this, we realize 1) the money system itself is the source of inequality and 2) we have to change the money system if we want to stave off the inevitable rise of wealth inequality to the point that it generates social disorder. More…

Big Banks Caught Using Credit Default Swaps To Destroy Nations

Big Banks Caught Using Credit Default Swaps To Destroy Nations
by Jeff Nielson
Posted December 22, 2015

police protecting the big bankersAt the beginning of 2010, readers were presented with what was (at the time) merely a theory. The Big Bank crime syndicate was engaged in the serial manipulation of credit default swaps, in order to (among other things) destroy the economies of entire nations. It’s one of the reasons these “financial weapons of mass destruction” (Warren Buffett) were illegal in the U.S. for roughly 100 years, banned under anti-gambling statutes.

The theory was supported by a combination of compelling empirical evidence and logical deduction (i.e. “circumstantial evidence”) – roughly the same evidentiary basis by which we obtain most of our criminal convictions in our courts of law. The difference here is that with our governments having abandoned the Rule of Law, there was no one ready or willing to adjudicate over such evidence.

Before moving to the new evidence of an open conspiracy by the Big Banks to manipulate this market, it is necessary to review this older evidence. The chronology begins after the Crash of ’08, and takes the form of a comparison of two nations and their economies: Greece and the U.S. More…

America’s Forgotten War Against the Central Banks

America’s Forgotten War Against the Central Banks
by Mike Hewitt
Posted December 21, 2015

debt free moneyA note issued by a central bank, such as the Federal Reserve Note, is bank currency. These notes are given to the government in exchange for an interest-bearing government bond. The primary means to pay for the interest on these bonds is to borrow more bank notes, thus beginning a vicious cycle that ultimately ends with the complete destruction of the currency and bankruptcy of the nation. History is replete with such occurrences. (For a list of countries that have experienced hyperinflation click here ).

This begs the question as to why such a doomed system would exist? The reason is that during the course of the arrangement, which can last for centuries, the central bankers who issue the money amass great fortunes from the large sums of interest collected. In essence it is a transfer of wealth from the many to the elite few. Government leaders prefer such a system because it does not require budgets to be balanced. It is far more politically expedient to borrow, then to directly tax the citizens. More…

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