The financial system established in England after 1688, based on usurious lending to the state by private bankers, is reaching its final blowout in the form of a series of devastating bubbles and a massive bailout of the financiers with public money. But the issuance of money doesn’t have to be in the hands of a private consortium: another credit system is possible.
Posted by inthesenewtimes on September 1, 2010
Paul Craig Roberts
31st August, 2010
Have economists made themselves irrelevant? If you have any doubts, have a look at the current issue of the magazine, International Economy, a slick endorsed by former Federal Reserve chairmen Paul Volcker and Alan Greenspan, by Jean-Claude Trichet, president of the European Central Bank, by former Secretary of State George Shultz, and by the New York Times and Washington Post, both of which declare the magazine to be “ahead of the curve.”
Posted in Financial crisis | Tagged: End of empire | Leave a Comment »
Posted by inthesenewtimes on August 31, 2010
Hossein Askari and Noureddien Krichene
1st September, 2010
In his weekend speech at Jackson Hole, Wyoming, home to an annual Federal Reserve retreat, Fed chairman Ben Bernanke acknowledged that the United States economy had indeed slowed down. He noted that monetary policy will remain extraordinary aggressive until recovery becomes strong.
Posted in Financial crisis | Tagged: dollar collapse | Leave a Comment »
Posted by inthesenewtimes on August 30, 2010
“The nation is way past deficit reduction concepts, but should focus rather on collapse avoidance. Confidence can be restored, and better economic performance enabled, only if the current Elite banks are plowed under, much of their impaired assets are liquidated, Goldman Sachs is removed from control of the USDollar altogether, and stern prosecution of colossal criminal bond fraud occurs. That would produce confidence. “
Jim Willie
28th August, 2010
History is being made. The American public has never been no nervous, perhaps fearful of something dreadful and imminent. The global monetary system is crumbling. The typical stimulus has failed to jumpstart the USEconomy. The 20 months of near 0% short-term official interest rate has failed to revive the moribund US housing market. The phony FASB accounting rules has failed to accomplish anything except a stay of execution for the big US banks, which do not lend much. In fact, the US banks are largely dead entities showing enough life for to receive USGovt largesse aid. Witness the failure of the US financial sector. Witness the climax chapter of failure for the Fascist Business Model.
Posted in Financial crisis | Tagged: dollar collapse | Leave a Comment »
Posted by inthesenewtimes on August 29, 2010
Ellen Brown
19th August, 2010
Over 62 million mortgages are now held in the name of MERS, an electronic recording system devised by and for the convenience of the mortgage industry. A California bankruptcy court, following landmark cases in other jurisdictions, recently held that this electronic shortcut breaks the chain of title, voiding foreclosure. The logical result could be 62 million homes that are foreclosure-proof.
Posted in Financial crisis | Tagged: fight foreclosures | Leave a Comment »
Posted by inthesenewtimes on August 29, 2010
The Mogambo Guru
28th August, 2010
I remember the good old days of the Cold War when the Russians were humorless robots who could always manage to catch James Bond, a British secret agent better known by his “License to Kill” number – 007.
But the clumsy, doltish Russians could never hold onto him, and in the process, a lot of Russian secret agents, soldiers, miscellaneous employees, assorted affiliates and innocent bystanders died, usually in a blaze of gunfire or explosions of some kind.
Posted in Financial crisis | Tagged: gold | Leave a Comment »
Posted by inthesenewtimes on August 26, 2010
25th August, 2010
NIA believes that the decoupling we have been predicting of precious metals from the Dow Jones has now officially taken place. A year ago we would consistently see precious metals and stock market prices rise and fall in parallel. We have now seen the Dow Jones decline by 6.1% from its high on August 9th, along with both gold and silver rising by about 3.3% during this same time period.
Read full article
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Posted by inthesenewtimes on August 18, 2010
Jim Willie
12th August, 2010
The article of July 22nd on “Smoking Guns of USTreasury Monetization” hit more desks, raised more dust, and brought more attention than expected to the heightened malfeasance in progress using USGovt debt securities. The actions continue without any hint of regulatory notice or legal prosecution. The problem is more diverse than just JPMorgan sale of bonds far beyond their existing supply. Sure, the venerable colossus sold more than $2 trillion in USTreasurys than were issued in the 1990 decade. Records no longer exist. The problem goes far beyond the giant bank, which gobbled numerous other banks in the course of its reign, to become an oligopoly cog within the USGovt today. See Chase Manhattan, Chemical Bank, Manufacturers Hanover, and Bank One. Any competent student of financial economics can see that such merger is part & parcel of the Fascist Business Model, with climax merged union with the state, and certain side effect benefits of subterranean license in numerous markets like silver. JPMorgan cannot be fixed by the process any more realistically than an angry man with a vengeful heart can carve out his own cardiac pump in order to enjoy a better day. Thus no solution exists.
Posted in Financial crisis | Tagged: dollar collapse, financial fraud | Leave a Comment »
Posted by inthesenewtimes on August 10, 2010
10th August, 2010
House prices fall as economy sees house prices fall
Government austerity measures are already plunging the British economy into reverse according to figures published today which reveal sagging high street sales and renewed falls in house prices.
Posted in Financial crisis | Tagged: economic collapse | Leave a Comment »
Posted by inthesenewtimes on August 6, 2010
Paul Craig Roberts
31st July, 2010
It is not unusual for members of the diminishing upper middle class to drop $20,000 or $30,000 on a big wedding. But for celebrities this large sum wouldn’t cover the wedding dress or the flowers.
Posted in Financial crisis | Tagged: End of empire | Leave a Comment »
Posted by smeddum on August 3, 2010
A still from Emily Kennerk’s 22-hour video installation, which shows an image of every home foreclosed in 2009 for one second.
By Kristen Peterson (contact)
Tuesday, Aug. 3, 2010
Once a boomtown, Las Vegas surged with prospectors seeking riches by buying land and selling homes — and the American dream — at a breakneck pace. Now many of those large stucco shells sit vacant, in disrepair, in quiet suburban neighborhoods dotted with mucky pools. Read the rest of this entry »
Posted in Financial crisis | Tagged: foreclosures | Leave a Comment »
Posted by smeddum on July 27, 2010
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