In These New Times

A new paradigm for a post-imperial world

Archive for the ‘Financial crisis’ Category

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.

The lull before the social storm

Posted by seumasach on November 8, 2012

Jack D.Douglas

LewRockwell.com

7th November, 2012

Vast social revolutions and wars are often preceded by periods of giving up on reforms, despairing withdrawal from public life by the best and brightest, and even peacefulness which seems to have become the normal condition in spite of deep conflicts and growing crises beneath the surfaces of public life. Often, earlier periods of intense conflicts and crises have been overcome and resolved, so it comes to look like that is the normal in life. This lulls most people into assuming their worse fears cannot happen, but this leads them to lowering their guards against growing conflicts and crises, so small ones can more easily cascade down into massive ones. If people expected they could become vast wars or revolutions or implosions, they would take more precautions to prevent that. But when lulled in expecting the worst cannot happen, the worst than they could ever imagine often explodes suddenly.

Read more

Posted in Financial crisis | Tagged: , | Leave a Comment »

Golden haarp & allocated gold exposure

Posted by seumasach on November 6, 2012

 

Jim Willie

Golden Jackass

31st October, 2012

A nasty Golden Harp could soon have its cords plucked, with the resonance working to shake loose the bankster cover of improper illicit duplicitous and probably highly illegal usage of Allocated Gold Accounts. When diverse scattered accounts are pilfered and depleted without authorization in Switzerland, resulting in several multi-$billion class action lawsuits in Zurich, all kept dutifully out of the news, that is one thing. But when a few key official government gold accounts are ransacked in systematic fashion from established trusted locations, defying and betraying the trust of the German Govt and other national governments, that is quite another. To be sure, the system can tolerate ransacking and replacing with scurried harried efforts the Venezuelan gold account like in 2011. The media told the story with creativity and aplomb, avoiding the truth, inventing a tale, but finding a credible pile of dung to feed the public, which swallowed it whole. The global monetary war has been raging for four years, ever since the Lehman Brothers firm was targeted and destroyed with planning and motivated execution, for the benefit of Goldman Sachs full CDS redemptions and exploit by JPMorgan in war chest reload under cover of bankruptcy court orders. The media prefers regularly to refer to the global financial crisis incorrectly and improperly. A crisis passes after a year or so. This war lingers like WWI and WW2 and Vietnam, with a clear emerging agenda to defend the USDollar regime from global isolation shun, to conceal the USTreasury Bond support mechanisms in derivatives, to avoid the US banking system from grotesque insolvency but kept afloat by grand money laundering channels, and to motivate an endless war to secure resource thefts and control that center on oil fields and the poppy fields. Witness the slow gradual inexorable collapse of the global monetary and financial system.

Read more

 

Posted in Financial crisis | Tagged: , , | Leave a Comment »

US economy collapsing

Posted by seumasach on October 28, 2012

Recession Very Possible in Q1 of 2013: Investors And CEOs Are Getting Very Nervous With Cloud Of Uncertainty, The Announcements of Layoffs Are Coming Fast and Furious, And We All Start Feeling The Economy Is Decelerating!

Investment Watch

27th October, 2012

Read article

Posted in Financial crisis | Tagged: , | Leave a Comment »

Welcome to the currency war, Part 4: Corporate revenues plunge

Posted by seumasach on October 27, 2012

Dollar Collapse

25th October, 2012

The Eurozone meltdown has sent capital pouring into (temporarily) safe haven currencies like the US dollar, which rose by nearly 12% between October 2011 and August 2012.

Read more

Posted in Currency Wars, Financial crisis | Tagged: , | Leave a Comment »

Leeds: Recession ‘driving ordinary people into cannabis production’

Posted by seumasach on October 20, 2012

Yorkshire Evening Post

20th October, 2012

Cash-strapped residents in Leeds are turning to crime and converting their homes into cannabis farms to make ends meet, the YEP can reveal.

 

A Leeds City Council report said there was evidence a cannabis-growing “cottage industry” had sprung up in parts of the city because of the difficult financial climate.

Read more

Posted in UK economy | Leave a Comment »

UK’s deficit ‘could be bigger than Greece’s’

Posted by seumasach on September 23, 2012

Britain could be heading for a bigger budget deficit next year than crisis-hit Greece and Spain, according to research by Morgan Stanley.

Telegraph

23rd September, 2012

Economists at the investment bank calculated that Britain’s budget deficit could total £126bn, or 7.8pc, of gross domestic product in 2013-14.

Read more

Posted in UK economy | Leave a Comment »

UK government borrowing rises to record August high

Posted by seumasach on September 21, 2012

Blow for George Osborne as latest figures mean deficit has widened 22% so far this year – compared with target of 4.6% reduction

Guardian

21st August, 2012

George Osborne’s debt reduction plans took another blow last month as government borrowinghit its highest on record for any August.

Read more

Posted in UK economy | Tagged: | Leave a Comment »

UK trade deficit hits new record

Posted by seumasach on August 9, 2012

Guardian

9th August, 2012

The UK’s biggest trade deficit since modern records began 15 years ago prompted calls last night for the government to provide more help for exporters struggling to cope with weakening global demand for their products.

Posted in UK economy | Leave a Comment »

Titanic Banks Hit Libor Iceberg

Posted by seumasach on July 23, 2012

Will Lawsuits Sink the Ships?

Ellen Brown

Counterpunch

20th-22nd July, 2012

At one time, calling the large multinational banks a “cartel” branded you as a conspiracy theorist.   Today the banking giants are being called that and worse, not just in the major media but in court documents intended to prove the allegations as facts.  Charges include racketeering (organized crime under the U.S. Racketeer Influenced and Corrupt Organizations Act or RICO), antitrust violations, wire fraud, bid-rigging, and price-fixing.  Damning charges have already been proven, and major damages and penalties assessed.  Conspiracy theory has become established fact.

Read the rest of this entry »

Posted in Financial crisis | Tagged: | Leave a Comment »

Lloyds in further loan sale turmoil

Posted by seumasach on July 23, 2012

Telegraph

23rd July, 2012

Lloyds Banking Group faces the indignity of another cut price sell off as buyers walk away from its £1.2bn Project Lundy auction. The state-backed bank has had to cut the price of the loans from a proposed 70p in the £1 to just 50p after failing to attract viable interest in a sale

Read more

Posted in UK economy | Tagged: | Leave a Comment »

Après Barclays, HSBC (Hong Kong & Shanghai Banking Corporation)

Posted by seumasach on July 23, 2012

Jean-Paul Baquiast

Europe Solidaire

19th July, 2012

Barclays, avec notamment le scandale du Libor (sans mentionner le reste) avait déjà provoqué dans le monde occidental une vague d’indignation. Mais HSBC (http://fr.wikipedia.org/wiki/HSBC) , la grande banque britannique, ancienne cheville ouvrière du Commonwealth, aujourd’hui un des coeurs de la City de Londres, très liée à la Banque d’Angleterre, a réduit l’affaire Barclays au niveau d’un simple fait divers.

Read the rest of this entry »

Posted in Financial crisis, UK economy | Tagged: , , | Leave a Comment »