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.
Posted by seumasach on January 8, 2009
One absolutely key element is missing from this analysis: by keeping the bulk of the US army, sworn to defend the constitution, engaged abroad the way is left clear for Northern Command, a special and unconstitutional force, to seize control inside the USA.
Prof. Peter Dale Scott
Global Research
8th January, 2009
Paulson’s Financial Bailout
It is becoming clear that the bailout measures of late 2008 may have consequences at least as grave for an open society as the response to 9/11 in 2001. Many members of Congress felt coerced into voting against their inclinations, and the normal procedures for orderly consideration of a bill were dispensed with.
Read the rest of this entry »
Posted in Financial crisis | Tagged: 9/11, Afghanistan, bailout, coup d'etat in America, Obama | 1 Comment »
Posted by smeddum on January 7, 2009
January 06, 2009
FDIC To Go Bankrupt in 2009?
Posted by Chris Brunner at January 6, 2009 02:43 PM
If you keep up with LRC, you probably already know that a major role of the FDIC is to give the public a false sense of confidence. Typically the FDIC keeps a little over fifty billion dollars in its Deposit Insurance Fund to cover the deposits of account holders in the event of bank failure. According to the data published on September 30, 2008, there is just under $8.8 trillion deposited in US banks. The fact that the FDIC has squat for cash to cover bank failures isn’t really news. So long as there are only three or four bank failures each year, the FDIC is able to cover the losses, and life goes on. Read the rest of this entry »
Posted in Financial crisis | Tagged: failing banks, FDIC | 1 Comment »
Posted by seumasach on January 5, 2009
Telegraph
4th January, 2009
What did the great radio inquisitor want me to do? Insist that if the Government keeps borrowing and listeners merrily load-up their credit cards during the post-Christmas sales, then everything will be fine?
Well it won’t be. The UK – like most Western economies – is in a grave situation. Our money markets are frozen, denying vital liquidity to millions of credit-worthy firms. Unless the inter-bank market reboots, then even hastily revised 2009 Western growth forecasts – down from 2-3pc a year ago to a 1-2pc contraction now – could turn out to be too optimistic. We face the very real danger of chronic unemployment across the so-called “advanced economies” and widespread social unrest.
Read the rest of this entry »
Posted in Financial crisis | Tagged: financial collapse, financial fraud, Glass-Steagal | Leave a Comment »
Posted by seumasach on January 4, 2009
Sunday Herald
4th January, 2009
GORDON BROWN’S “DECISIVE” strategy to recapitalise Britain’s banks and get them lending again with a £37 billion bail-out, which he claimed has been copied all over the world, has not worked – and the Treasury has no plan B yet.
Read the rest of this entry »
Posted in Financial crisis | Tagged: bailout, bankrupt Britain, financial collapse | Leave a Comment »
Posted by seumasach on January 4, 2009
Independent
4th January, 2009
A quarter of all British families will have no disposable income in 2009, dealing yet another blow to the beleaguered retail sector.
Read the rest of this entry »
Posted in Financial crisis | Tagged: bankrupt Britain, economic collapse, financial collapse | Leave a Comment »
Posted by smeddum on January 4, 2009
By Jon Hurdle
PHILADELPHIA (Reuters) – Governors of five U.S. states urged the federal government to provide $1 trillion in aid to the country’s 50 states to help pay for education, welfare and infrastructure as states struggle with steep budget deficits amid a deepening recession. Read the rest of this entry »
Posted in Financial crisis | Leave a Comment »
Posted by smeddum on January 3, 2009
False Deflation Diagnosis and Gold Bullish Crossover Signal
Jan 02, 2009 – 05:25 AM
By: Jim_Willie_CB Market Oracle
One of the most bothersome questions from 2005 to 2007 used to be whether the Untied States would ultimately submit to inflation or deflation. This is actually the wrong question. Many analysts in my view are incorrect in their conclusion that the US suffers from a powerful deflation episode, since they endorse the wrong definition, confuse effect with cause (as usual), do not properly monitor the money flow, and then draw improper conclusions from prices. They suffer from a type of Keynesian Tunnel Vision. They are confused, and fail to adapt certain key measures after the financial sector highjacked the entire national system in the last two decades. Read the rest of this entry »
Posted in Financial crisis | Tagged: dead banks, declining dollar, economic disaster, economic disintegration, End of empire, failing banks, western media | Leave a Comment »
Posted by smeddum on December 24, 2008
Market oracle
Dec 20, 2008 –
By: Professor_Emeritus
In an earlier article Backward Thinking on Backwardation I explained that backwardation in gold is the flipside of the phenomenon of a drastic contraction of world trade and employment. This brings out the danger in denying the fact of gold backwardation or to belittle its significance, as most observers seem to be doing. I am reminded of the saying of the Swiss educator F.W. Foerster: “if you don’t use your eyes for seeing, later you will use them for weeping.” In this article I want to enumerate the reasons why I believe that permanent backwardation in gold would bring about the descent of our civilization into lawlessness similar to that following the collapse of the Western Roman Empire. Read the rest of this entry »
Posted in Financial crisis | Tagged: declining dollar, gold manipulation | Leave a Comment »
Posted by smeddum on December 23, 2008
Greece-Shipping crisis.
Farming UK
22/12/08
SHIPPING CRISIS.
At the moment in Argentina and Brazil, there is a glut of shipping vessels and very little cargo. In what is known as the slack time between November and March.
Global shipping is facing the worse crisis in decades, cargo rates have fallen by 90% since July of this year and the shipping boom has turned to bust. Read the rest of this entry »
Posted in Financial crisis | Tagged: shipping crisis | Leave a Comment »
Posted by seumasach on December 23, 2008
Eric de Carbonnel
Market Oracle
22nd December, 2008
Right up until the commodity bubble burst this summer, there was the ridiculous theory going around that the world was now “decoupled” and that European and emerging markets would somehow avoid being affected by the US slowdown. These decoupling theories disappeared as oil dropped like a rock, only to be replaced by an equally ridiculous idea: that the world’s economic pain would be spread evenly. This is wrong. Although the entire world is going into a recession as a result of the credit crisis, some economies are better prepared than others to weather the storm.
Read the rest of this entry »
Posted in Financial crisis | Tagged: economic collapse | Leave a Comment »
Posted by seumasach on December 23, 2008
Yahoo
21st December, 2008
DETROIT – One measure of how tough times are in the Motor City: Some of the offenders in jail don’t want to be released; some who do get out promptly re-offend to head back where there’s heat, health care and three meals a day.
Read the rest of this entry »
Posted in Financial crisis | Tagged: bankrupt america, economic collapse, financial collapse | Leave a Comment »
In These New Times 