Blog Archives

Goldman and Blackstone Enter Spanish Real Estate – Pain and Suffering for Poor People Immediately Ensues

Less than a month ago, I warned the people of Spain that U.S. financial oligarchs had their sights set on the nation. The post was titled, Your Wall Street Slumlord Arrives in Europe – Goldman and Other Financial Firms Launch “Buy to Rent” in Spain.

The effects are already being felt across the poor areas of Madrid.

Read the rest here.

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Is the market system the leading cause of unnecessary death on the planet today?

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A Convoluted Bailout for Irish Bank ?

Permanent TSB faces a capital shortfall of between €700m and €800m under an extreme case, according to analysts at Investec and Merrion Capital.
Mr Noonan declined to comment on the results of the stress tests, while officials from the Central Bank, PTSB, Bank of Ireland, AIB, Ulster Bank and Merrill Lynch also declined to comment.  The Government would be able to switch its €400m of contingent convertible notes, or CoCos, in Permanent TSB to equity as an initial measure to reduce any capital need, according to Emmet Gaffney, an analyst at Investec in Dublin.
The lender’s shortfall shouldn’t exceed €700m “even in an extremely bearish scenario,” he said.
Permanent TSB ‘failed’ tough ECB bank stress tests

Swiss ‘Yes’ and ‘No’ Gold Initiative Campaigns Compete at Launches in Bern

Swiss ‘Yes’ and ‘No’ Gold Initiative Campaigns Compete at Launches in Bern


Contents
- Introduction
- ‘Yes’ Campaign Launch
- Paper Decays, Gold Holds Its Value
- ‘No’ Campaign Launch – Alphabet Soup
- Unsaleable Gold Like an Unusable Fire Extinguisher?
- Swiss Electorate 5.2 Million
- Double Majority Including Cantons
- Referendas by the Dozen
- Sometimes There are Shock Results

(more…)

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DSK partner leaps to his death

Dominique Strauss-Kahn’s business partner, Thierry Leyne, has committed suicide by jumping from one of the tallest buildings in Tel Aviv.

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Word on the Paris boulevard is that Leyne Strauss-Kahn & Partners lost a lot last week in the market chaos. Whether or not the rumoured losses have anything to do with this, we don’t know yet.

Jim Willie: Shanghai Shock to Shatter the Gold Market!

The pattern of central bank covering the debt is clear. The lesson is that central banks can apply paper patches to the failed banks, and buy more time, then repeat the process on the next failed bank event. No limit to their bank patches seems to be in force.   The banker cabal can continue endlessly since their patches are based on paper solutions, fiat paper money spew, and they control the paper output. They are the masters of the House of Paper.
The paper mache solutions can continue in a seemingly endless manner, but not in the Gold market.
The intervention and suppression in the Gold market is finite.   It requires Gold bullion, the physical ingot bars, in order to execute the perpetuated interference and alteration to this financial niche market.
The manipulation is finite, and it is coming to an end.
When the Shanghai shock comes, all the Paper Gold structures will fall, all the FOREX derivatives will collapse, all the control rooms will go into panic mode.

Click here for the latest Hat Trick Letter on the coming Shanghai Shock to the Gold Market:

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“War on Terror” Targets Unlicensed Underwear – Department of Homeland Security Raids Maker of World Series Panties

This morning, American slaves woke up to learn that the Department of Homeland Security, a worthless bloated bureaucracy with a $39 billion budget, has been spending its time and money raiding a creator of unlicensed World Series panties. I wish this was a joke…

Read the rest here.

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Prepare for Global Gold Confiscation and Orwell’s 1984, Warns Rickards

Prepare for Global Gold Confiscation and Orwell’s 1984, Warns Rickards

We do not believe Rickard’s prognostications for a “New World Order” will come to pass. “How would that happen? The G-20 meetings struggle to agree on a final communique. How could they agree something like that?” asks Arabian Money in their review of Rickards’ article. We do see potential for a major crisis in the financial and monetary system along the lines that Rickards describes. And with this in mind we emphasise once again the prudence of storing gold and silver in fully segregated and fully allocated accounts in ultra-secure vaults in the safest jurisdictions in the world. (more…)

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Windhover Transition… You’re Breaking Me Down

Hey, Windhover Cathedral, you are bringin’ me down
You stood and you watched as, you watched sovereignty go by, my baby left town
You coulda done somethin’, but you didn’t even try
You didn’t do nothin’, you didn’t ding-dong, you let her get by

Now everyone knows just how much you needed that identity
She wouldn’t have gone far away, if only you’d started ringin’ your bell

The transitions are where the big pile-ups usually happen.  Bitcoin enthusiasts welcome to The Windhover Transition.

http://tradewithdave.com/?p=22332

What Happens When Cash Is No Longer Trash?

Those who actually create value as opposed to chasing yield with nearly-free money will actually have some traction once the swamp of excess liquidity drains.

When those closest to the money spigots of the Federal Reserve can borrow billions for next to nothing, cash–laboriously saved from years of paychecks–is reduced to trash. What chance does a saver have in a bidding war for a house or other asset against a financier who can borrow essentially unlimited cash?

Answer: none. 

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Another Pension Scandal – The Crony Love Affair Between North Carolina, Credit Suisse and Erskine Bowles

When it comes to how the U.S. economy of fraud functions in 2014, the following article has it all. A government official, a global investment bank and a businessman/politician, all working together to enrich themselves at the public’s expense. It demonstrates how big bucks are really earned by insiders in the new American Dream, characterized by extreme cronyism and corruption…

Read the rest here.

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The Tax Justice Network Podcast (October ’14)

How much is corporate welfare costing us? In this month’s Tax Justice Network podcast we look at how across the US they’re going to start publishing corporate tax breaks and subsidies. And we take a look at the latest research in the UK.

Also: Ireland announces it’ll abolish the so-called ‘Double Irish’ tax dodge after the EU Commission finds Apple’s tax deal is ‘illegal state aid’. But what will they replace it with? Australians discover the true state of the tax contributions made by their top companies and Tax Justice Network Africa makes history by taking the Kenyan government to court in an unprecedented case over a tax treaty with the tax haven of Mauritius. CLICK ON THE LOGO TO LISTEN:

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Featuring: Tax Justice Network Director John Christensen, Greg LeRoy of Good Jobs First and the University of York’s Dr Kevin Farnsworth.  Produced and presented by @Naomi_Fowler for the Tax Justice Network.

Previous Taxcasts available here and here.

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