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Understanding True Credit and False Credit
Understanding True Credit and False Credit There are two kinds of credit: that which would be offered in a market economy with sound money and banking (true credit), and that which is made possible only through a system of central banking, artificially low interest rates, and fractional reserves (false credit). Banks cannot expand true credit […]
US government’s new ‘rule’ allows banks to completely make sh*t up
US government’s new ‘rule’ allows banks to completely make sh*t up In 1494, a 47-year old Franciscan friar named Luca Pacioli invented something that was revolutionary. Pacioli was, in fact, a friend and contemporary of Leonardo da Vinci, and the two collaborated frequently. So you’re probably guessing that Pacioli was a co-designer in Leonardo’s famed […]
Operation Choke-Point Is Worse Than We Thought
Operation Choke-Point Is Worse Than We Thought Operation Choke Point is an initiative of the DoJ that was announced in 2013 which investigates bank interactions with certain businesses believed to be at higher risk for fraud and money laundering. When first disclosed it was heavily criticised for bypassing due process with critics warning that “it’s a thinly […]
It begins: IRS launches International Data Exchange service
It begins: IRS launches International Data Exchange service Yesterday, the IRS announced the International Data Exchange Service. If you’ve not heard of it, it’s is an outgrowth of the Foreign Account Tax Compliance Act (FATCA), which requires every single bank in the world to get in bed with IRS to share information about customers. We’ve […]
The Cartel: How BP Got Insider Tips Through a Secret Chat Room – Bloomberg
The Cartel: How BP Got Insider Tips Through a Secret Chat Room – Bloomberg. Halfway down a muddy, secluded road on marshland in suburban Essex sits Wharf Pool, a lake stocked with some of the biggest freshwater fish you will ever see. A white sign with red lettering reads: “Private Syndicate: Strictly Members Only.” A metal […]
The Cradle of Democracy Should Defy the Autocrats & Kleptocrats | StealthFlation
The Cradle of Democracy Should Defy the Autocrats & Kleptocrats | StealthFlation. On the old continent, this December 29th, a succinct political showdown is scheduled to take place which may well become a defining moment for our entirely unsettled new millenium. What is at stake is none other than the prosperity of the common man […]
China’s Christmas Present To The World: Beijing Eases Again, Sets Non-Bank Deposit Reserve To Zero | Zero Hedge
China’s Christmas Present To The World: Beijing Eases Again, Sets Non-Bank Deposit Reserve To Zero | Zero Hedge. Four years ago, on Christmas Day in 2010, China shocked the world when, unexpectedly, hiked its lending and deposits rates by 0.25% in order to battle inflation – only its second such hike in the prior 3 years. […]
What bank stress tests don’t tell you about banking system resilience | New Economics Foundation
What bank stress tests don’t tell you about banking system resilience | New Economics Foundation. The Bank of England has just released the results of its first ‘stress test’ of UK banks, designed to assess whether they have enough capital to weather a severe financial storm. While headlines have focused on the fact that the […]
IMF holds back Cyprus bailout funds | World news | theguardian.com
IMF holds back Cyprus bailout funds | World news | theguardian.com. The International Monetary Fund has said it will not release a further €88m (£69m/US$108m) in bailout money for Cyprus on Friday after the country’s parliament delayed a key foreclosure law that was due to take effect at the end of December. “Following today’s suspension […]
Banking culture breeds dishonesty, scientific study finds | Reuters
Banking culture breeds dishonesty, scientific study finds | Reuters. (Reuters) – – A banking culture that implicitly puts financial gain above all else fuels greed and dishonesty and makes bankers more likely to cheat, according to the findings of a scientific study. Researchers in Switzerland studied bank workers and other professionals in experiments in which […]
Russia to launch alternative to SWIFT bank transaction system in spring 2015 — RT Business
Russia to launch alternative to SWIFT bank transaction system in spring 2015 — RT Business. Russia intends to have its own international inter-bank system up and running by May 2015. The Central of Russia says it needs to speed up preparations for its version of SWIFT in case of possible ”challenges” from the West. “Given […]
Ways to Create a Democratized Economy | Grassroots Economic Organizing
Ways to Create a Democratized Economy | Grassroots Economic Organizing. The richest 400 Americans now own more wealth than the bottom 180 million taken together. The political system is in deadlock. Social and economic pain continue to grow. Environmental devastation and global warming present growing challenges. Is there any path toward a more democratic, equal […]
How The Federal Reserve Is Purposely Attacking Savers – Chris Martenson | Peak Prosperity
How The Federal Reserve Is Purposely Attacking Savers – Chris Martenson | Peak Prosperity. There’s something we ‘regular’ citizens wrestle with that the elites never seem to: a sense of moral duty. For example, following the collapse of the housing bubble, many people struggled with mortgages they could no longer afford to pay, fearing the shame […]
Debunking the great Australian banking myth – The Drum (Australian Broadcasting Corporation)
Debunking the great Australian banking myth – The Drum (Australian Broadcasting Corporation). There is a certain irony about Macquarie Bank warning against new financial regulations, when only six years ago it was begging the government for help, writes Ian Verrender. Q. What are the two greatest weapons in a businessman’s arsenal? A. Chronic memory failure […]
The IMF and Austrian Theory – Ludwig von Mises Institute Canada
The IMF and Austrian Theory – Ludwig von Mises Institute Canada. Back in the early 1960s, financial journalist Henry Hazlitt warned against efforts to create an international system to help facilitate the smooth transfer of currencies. Representatives from the world’s leading governments were attempting to increase liquidity in global markets. They wanted to make sure the […]
