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Economic Collapse News
2012: The Year of Banker Infestation 2013: The Year of Bank Oligopoly PDF Print E-mail
Written by RC Christian   
Monday, 07 January 2013 12:52

In this episode, Max Keiser and Stacy Herbert argue over whether things are looking better or worse for the American worker. While Stacy argues that the return of some manufacturing is a sign that wealth creating jobs may return to the US, Max counters that the system is so corrupt that the chances of labor getting any cut of the wealth is nil and that the Internet giants will prevent the rise of a powerful decentralized economy online. In the second half, Max Keiser talks to Professor Jonathan Feldman about the Global Teach-In and about a boycott and short sale campaign and creating an industrial policy for America because right now the US even outsources some military production to China.

Last Updated on Monday, 07 January 2013 13:13
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Bernie Sanders Calls Federal Reserve "Socialism for the Rich" After $16 Trillion Secret Bail-Outs PDF Print E-mail
Saturday, 28 July 2012 21:40

Audit the Federal Reserve

 

 

Bail-outs Included Foreign Banks

After 89 Democrats in the House voted in a victory for bipartisanship to audit the Federal Reserve, some jaw-dropping numbers are emerging as a result of a partial conducted this year.  It is no surprise that the news is dropping with a dull thud in the media.  That's why you should get your news from the Internet and sites like this.

Senator Bernie Sanders at his official website reports:

The first top-to-bottom audit of the Federal Reserve uncovered eye-popping new details about how the U.S. provided a whopping $16 trillion in secret loans to bail out American and foreign banks and businesses during the worst economic crisis since the Great Depression. An amendment by Sen. Bernie Sanders to the Wall Street reform law passed one year ago this week directed the Government Accountability Office to conduct the study. "As a result of this audit, we now know that the Federal Reserve provided more than $16 trillion in total financial assistance to some of the largest financial institutions and corporations in the United States and throughout the world," said Sanders. "This is a clear case of socialism for the rich and rugged, you're-on-your-own individualism for everyone else."

The consortium of private banks collectively known as the Federal Reserve found itself in the crosshairs of Occupy Wall Street last fall.  Created in 1913, the Fed holds a monopoly on the creation of the currency, which it lends to the US Treasury at interest, or to other banks.

 

But House passage already marks a high-water mark for those who for years have been pushing for an audit, led by Mr. Paul. The Texas Republican rode the issue to prominence in two different presidential campaigns, and said the bill is a chance for Congress to begin to reclaim the money and banking powers it is given in the Constitution, but had delegated to the Fed.

Read more: Audit the Federal Reserve

Last Updated on Monday, 30 July 2012 10:20
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Occupy Student Debt Protests $1 Trillion Mark PDF Print E-mail
Written by Legal Lady   
Wednesday, 25 April 2012 14:33

Today marks what occupy Wall Street activists are calling “1TDay” - the day U.S. student debt reaches $1 trillion.

Occupy Student Debt, an offspring of the Occupy movement focusing on student debt and urging students to pledge not to repay their loans, is organizing several events today to commemorate the total amount of student debt passing $1 trillion, reported DemocracyNow.

"Demonstrations and creative actions" are planned for Union Square, in New York; the headquarters and regional offices of the student lender Sallie Mae; and at colleges across the country, including the University of Chicago, Brooklyn College, Cooper Union, Hampshire College, the University of Wisconsin at Madison, and the University of California at Santa Cruz, informed Occupy Student Debt.

Full Story and Video: Occupy Student Debt Protests $1 Trillion Mark

Last Updated on Wednesday, 25 April 2012 14:46
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Economic Doomsday 2012 PDF Print E-mail
Written by Aleko   
Monday, 12 March 2012 15:48

Doomsday Scenario: What Happens When Banks Control the Economy?

Today, news of Italy's economy falling into deeper recession, contracting for the second consecutive quarter, rose concerns that the economic crisis will continue in 2012.

Itralian Prime Minister Monti who replaced last year former Prime Minister Silvio Berlusconi immediately set out to cut spending and chip away at Italy’s debt, which was 120.1 percent of GDP in 2011, Wall Street Journal.

 

 

The National Statistics Institute (Istat) financial report data showed an economy decline of 0.7% in the fourth quarter from the previous three months.

While Europe was preoccupied about Greece's inability to pay its bills, Italy went even closer to the brink of economic ruin.

 Unfortunately, the debt crisis and uncertainty is not contained on European shores.

If something catastrophic were to happen to Italy, businesses and consumers in the United States would be seeing the negative impact of an Italian economic a collapse as well.

It is a doomsday scenario to assume that Italy or the US economy would fail, but an economic doomsday is no longer considered impossibility.

Read Full Article and Watch Video: Economic Doomsday 2012

Last Updated on Wednesday, 14 March 2012 15:39
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The FED is Stealing from the American People PDF Print E-mail
Written by RC Christian   
Tuesday, 28 February 2012 15:02

Ron Paul on the bank bailouts and putting an end to the criminally run Federal Reserve

 

The Federal Reserve Bank committed some $7.77 trillion in funds to major Wall Street banks during the height of the 2008 financial crisis, according to a report published by Bloomberg News, November 28 through a Freedom of Information Act request (Federal Reserve Misplaces 9 Trillion Dollars).

To understand what’s been done, and how, we need to understand how money is created.

The Federal Reserve has to loan money into existence. The Federal Reserve loans the US Government money and the bonds thereby created are sold on the open market to buyers. The federal treasury bonds are traded internationally and this is why and how the Japanese and more recently, the Chinese, have come to hold so much US debt. Individuals and private financial institutions can buy bonds, of course commercial banks can do that too. These transactions are seen as an investment, but with interest rates maintained artificially low, the desirability of the bonds on the market slips dramatically.

Full Story and Video: The FED is Stealing from the American People

Last Updated on Wednesday, 14 March 2012 17:36
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