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:


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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India Gold Demand Surges 450% and Bank of Russia Demand At 15 Year High

It is safe to say that – in the event of a global monetary crisis brought on by a tsunami of insurmountable QE compounded debt – the average Indian or Chinese family will be reasonably well equipped to weather the financial and monetary storm.

The same cannot be said, unfortunately, for their Western counterparts where ownership of tangible assets is abysmally low and only a tiny fraction of the population own gold and silver bullion. Read more ›

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In Uncharted Waters

What I see as extremes that must necessarily end badly, others see as mere extensions of recently successful policies and trends.

A long-time reader recently chastised me for using too many maybe’s in my forecasts. The criticism is valid, as “on the other hand” slips all too easily from qualifying a position to rinsing it of meaning.

That said, given that we’re in uncharted waters, maybe’s become prudent and certainty becomes extremely dangerous. 

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More Foreign Policy Incompetence – U.S. Humanitarian Aid is Going Directly to ISIS

“The convoys have to be approved by ISIS and you have to pay them: The bribes are disguised and itemized as transportation costs,” says an aid coordinator who spoke to The Daily Beast on the condition he not be identified in this article. The kickbacks are either paid by foreign or local nongovernmental organizations tasked with distributing the aid, or by the Turkish or Syrian transportation companies contracted to deliver it.

The State Department official said he, too, was conflicted about the programs… “Are we helping indirectly the militants to build their caliphate? I wrestle with this.”

It’s hard to know whether the U.S. government is intentionally helping ISIS, or if it is just that incompetent. Either conclusion is terrifying…

Read the rest here.

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Storj demonstrates how block chain tech is more secure


Recently the New York Times reported “A Russian crime ring has amassed the largest known collection of stolen Internet credentials, including 1.2 billion user name and password combinations and more than 500 million email addresses.”…..

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[KR669] Keiser Report – Apocalypse Now

We discuss the horror, the horror of the apocalyptic scenes that central bankers have wrought upon the innocent and the deranged alike. This apocalyptic aftermath of meeting the Colonel Kurtz like central bankers is an economy in which the under-30s are left behind and the pauperization of workers through inflation. We also look at the testimony in the lawsuit by Maurice ‘Hank’ Greenberg in which it was revealed that then Treasury Secretary, Hank Paulson lied to Congress! In the second half, Max interviews Mitch Feierstein of about how democracy has been vaporised in the UK and the result is the falling wages which have led to protests in the streets of London.

Irish Politician – Water needs to be paid for it just doesn’t fall outta the sky

In an Irish context being battered, last night,  with a month’s worth of rain in one day ………well you get the joke.


First Swiss Gold Poll Shows Pro-Gold Side In Lead At 45%

First Swiss Gold Poll Shows Pro-Gold Side In Lead At 45%


The first poll of how the Swiss people will vote in the “Save Our Swiss Gold” initiative on November 30th shows that the Swiss are leaning towards voting for the pro-gold initiative.

Gold Initiative Poll Results –  20 Minuten

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Britain isn’t working, it’s borrowing

Stacy Summary: This is the problem with neo-feudalism. One, obviously, cannot tax the oligarchs, lords, banksters and property speculators, which leaves you with the ugly people who have to work for food (and then just barely). This is the inevitable conclusion to any such pyramid scheme.

UK government debt soars 10%


The state of Britain’s finances deteriorated unexpectedly in September, pushing the deficit 10% higher in the first half of the year and leaving the chancellor further off course in his deficit reduction plans.

Borrowing last month totalled £11.8bn, £1.6bn higher than September 2013 and more than a billion higher than City economists were forecasting, as government spending increased more than the value of its tax receipts.

And here is the evidence of the denial of the small ruling elite and the few lucky winners of Thatcher’s great Right to Buy giveaway:

The public finances have been consistently weaker than expected in recent months according to the Office for National Statistics data.

To build a system in which unearned income pays more than earned means necessarily that it is far less scaleable than a German like system where wealth creation pays more.


And then this idiotic statement: “Britain borrows more than a year ago despite the recovery” . . . um, it’s “Britain borrowed more and so GDP rose, but it was just debt backing illusory house price gains and not wealth creating jobs or manufacturing.”

Christophe de Margerie, CEO of Total, dies in small plane crash in Russia

CEO of Total dies in plane crash


I first heard of de Margerie when we made the film Peaked for Aljazeera English. He was the first senior oil executive to mention ‘peak oil,’ which angered many others in the industry.

The last we heard from him, however, was from this July 5, 2014 Bloomberg story we covered:

Total’s de Margerie Sees No Need for Dollars in Oil Purchases

“Nothing prevents anyone from paying for oil in euros,” de Margerie told journalists at the Cercle des Economistes conference in Aix-en-Provence, France. “The price of a barrel of oil is quoted in dollars. A refinery can take that price and using the euro-dollar exchange rate on any given day, agree to make the payment in euros.”

The remarks from the head of France’s largest oil company are the latest in a debate sparked by an $8.97 billion fine slapped by the U.S. on French bank BNP Paribas SA (BNP) for transactions carried out in dollars in countries facing American sanctions.

I’m sure it had nothing to do with his death, of course [insert nervous laugh], but here’s the second comment on that Bloomberg article:

Also someone take a life insurance policy on that guy I have a feeling Langley mercenaries will make someone rich

Will post an update when/if this is confirmed any time soon. At the moment, only RT is reporting this. I’m assuming they have pretty good connections inside Russia.

It is being confirmed by other sources now, including Bloomberg.

Subscription Crash of 1987

Stacy Summary: Mitch Feierstein of came into the studio today for his first ever double-header Keiser Report. As he was on such a roll, we had to have him ...

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