JPmorganTerrorismBernie Madoff,  former wallstreet stockbroker arrested in 2008 for his multi billion dollar ponzi scheme was not the only one aware of his massive fraud — JPmorgan was also aware  and has agreed to pay $2 billion in fines to avoid prosecution and further investigation into their role of the Madoff Ponzi Scheme.  It was just in September when JPmogan was fined $13 billion for their role in the 2008 financial collapse via fraudulent mortgage backed securities.

Bernie Madoff is typically regarded as pulling of the biggest financial scam in American history, but as Washington’s Blog illustrates below, Bernie Madoff is small potatoes.  One has to wonder why committing fraud on the scale Madoff did gets him thrown in jail, but the fraud committed by the banks if always given a slap on the wrist accompanies with some petty fine —  But not only are the banks involved in financial fraud, but also funding terrorism, laundering drug money, rigging interest rates — Just to name a few….

List Of Recent Illicit Acts Committed By The Banks (Courtesy of Washington’s Blog)

  • Engaging in mafia-style big-rigging fraud against local governments. See thisthis and this
  • Shaving money off of virtually every pension transaction they handled over the course of decades, stealing collectively billions of dollars from pensions worldwide. Details hereherehereherehere,herehereherehereherehere and here
  • Pledging the same mortgage multiple times to different buyers. See thisthisthisthis and this. This would be like selling your car, and collecting money from 10 different buyers for the same car
  • Committing massive fraud in an $800 trillion dollar market which effects everything from mortgages, student loans, small business loans and city financing
  • Pushing investments which they knew were terrible, and then betting against the same investments to make money for themselves. See thisthisthisthis and this
  • Engaging in unlawful “Wash Trades” to manipulate asset prices. See thisthis and this
  • Bribing and bullying ratings agencies to inflate ratings on their risky investments


Amazing Stories - Global WarmingThis is typical of the global warming ecofascists, and leftists alike.  They promote themselves as believers of free expression until someone disagrees with them, then they censor you. In my post found here, I show many concerns have been raised as to the legitimacy of ‘global warming’ as the science that purports this fear mongering is proven either highly exaggerated, or simply based off flat out lies/fraud.

The ice caps are not melted, the polar bears are not extinct so now it is time or the ecofascists to put their hands over their ears and press the ban button on anyone who shows evidence of global warming being a sham.

“About a year ago, we moderators became increasingly stringent with deniers,” Reddit content editor Nathan Allen wrote in grist. “When a potentially controversial submission was posted, a warning would be issued stating the rules for comments (most importantly that your comment isn’t a conspiracy theory) and advising that further violations of the rules could result in the commenter being banned from the forum.”

On December 23, 1913, the banksters created the private cartel masquerading as a government agency, the Federal Reserve, to manipulate fiat money and engineer asset bubbles designed to level economies.

On December 16, 2013, the current chairman of the Fed, Ben Bernanke, otherwise known as Helicopter or Bubbles Ben, said in a speech celebrating the triumph of financial sector will over the common man and his pocketbook that the cartel will resist all political pressure.

Bernanke took the opportunity to declare himself an inflation warrior just like his predecessors, Paul Volcker and Alan Greenspan. This is doublespeak in its full glory.

In fact, Bernanke’s legacy is inflation, albeit miscalculated. “The way that inflation is calculated has changed more than 20 times since 1978, and each time it has been changed the goal has been to make it appear to be lower than it actually is,” notes Zero Hedge. “If the rate of inflation was still calculated the way that it was back in 1980, it would be about 8 percent right now and everyone would be screaming about the fact that inflation is way too high.”

Obama and crew play along with the trick. The government cites something called the “chained consumer price index” (chained CPI) to measure the deleterious effect of inflation on people’s standard of living.

Ron Paul explains:

Chained CPI is an effort to alter the perceived impact of inflation via the gimmick of “full substitution.” This is the assumption that when the price of one consumer product increases, consumers will simply substitute a similar, lower-cost product with no adverse effect. Thus, the government decides your standard of living is not affected if you can no longer afford to eat steak, as long as you can afford to eat hamburger.

“One of the tricks the CPI formula uses to keep the metric low is to remove food and energy from the CPI,” Duane Storey explains. “Unfortunately, since food and energy consume a large portion of most family’s disposable income, the removal of those items from the CPI limits its usefulness in tracking price inflation.”

Source: mybudget360

The Fed recently reported that US households reached an all-time record high when it comes to their net worth.  A record $77.3 trillion net worth figure was reported with $7.65 trillion of this growth occurring over the last 12 months.  The only issue here is that most Americans do not own any financial assets.  The bulk of the gain has come from the juiced up stock market courtesy of mega Quantitative Easing.  Yet at the same time, we have a peak in food stamp usage and the real estate market is largely being driven by Wall Street speculators.  The Fed is creating a modern day Gilded Age that is favoring a very small portion of the population.  The vast majority of the population is leveraged into debt with high rates while those with premiere access continue to increase their balance sheets.  It is no coincidence that the top 10 percent of households control 75 percent of all wealth in the nation.  This is why sentiment for most households is negative.  For the majority to participate in this party they need to go into massive debt yet again to pretend they are still part of the middle class.

Wal Mart Workers

There is a growing support to pay Wal-Mart employees $15/hr until those same supporters are confronted that a pay increase would raise prices.

Peter Schiff enters a Walmart parking lot asking customers if they would support increasing pay for Walmart employees. Many of the customers say ‘yes’ to increasing the pay.  Schiff then asks these customers if they would agree to an 15% increase on  prices on Walmart products to fund paying Walmart employees more money. The same people who want to see Walmart employees get a pay increase say no, when presented with the notion, that they would pay more for their goods. Essentially the consumers would be the ones paying for the Walmart workers pay increase. Naturally they disagree with the increase in pay when this is brought up.

We have a population of people who agree to things without thinking for even a second, what the outcome of the decision they agreed to will be.  It is this sort of thing that got America obamacare.

If people in America really cared about paying workers a decent wage, Americans would not shop at Walmart to begin with.

Full Article At: Telegraph

A Nobel prize-winning economist will on Thursday withdraw his support for the euro saying it has created a “lost generation” unemployed youngsters and should be broken up.
Sir Christopher Pissarides was once a key proponent of a single currency but will on Thursday accuse the euro of “dividing Europe” and say action is needed to “restore the euro’s credibility in international markets” and the “trust that Europe’s nations once had in each other”, according to the Daily Mail.
Speaking at the London School of Economics, where he teaches, Professor Pissarides will say: “The euro should either be dismantled in an orderly way or the leading members should do the necessary as fast as possible to make it growth and employment-friendly,.

Source: Tea Party Economist

The number of banks is down to just under 6,900. There were 7,000 a year ago.

Banking regulation adds to costs. This wipes out small banks. It subsidizes big banks.

Which banks caused the crisis of 2008? Large banks. Which banks got the lion’s share of the bailouts from Congress and the Federal Reserve? The top 6 banks.

The Treasury Department relied on the recommendations of the Fed to decide which banks were healthy enough to get TARP money and how much, the former officials say. The six biggest U.S. banks, which received $160 billion of TARP funds, borrowed as much as $460 billion from the Fed, measured by peak daily debt calculated by Bloomberg using data obtained from the central bank. Paulson didn’t respond to arequest for comment.

The six — JPMorgan, Bank of America, Citigroup Inc. (C), Wells Fargo & Co. (WFC), Goldman Sachs Group Inc. (GS) and Morgan Stanley — accounted for 63 percent of the average daily debt to the Fed by all publicly traded U.S. banks, money managers and investment-services firms, the data show. By comparison, they had about half of the industry’s assets before the bailout, which lasted from August 2007 through April 2010. The daily debt figure excludes cash that banks passed along to money-market funds.

The crisis made them bigger, more powerful. The bailouts were subsidies for failure.

Which banks hold 70% of all bank assets? The top 12 bank

If one looks at the current paper money system and its negative social and social-political effects, the question must arise: where are the protests by the supporters and protectors of social justice? Why don’t we hear calls to protest from politicians and social commentators, from the heads of social welfare agencies and leading religious leaders, who all promote the general welfare as their mission?

Presumably, the answer is that many have only a weak understanding of the role of money in an economy with a division of labor, and for that reason, the consequences of today’s paper money system are being widely overlooked.

The current system of fractional reserve banking and central banking stands in stark opposition to a market economy monetary regime in which the market participants could decide themselves, without state pressure or coercion, what money they want to use, and in which it would not be possible for anyone to expand the money supply because they simply choose to do so.

Source: Mises Institute