For many years, the burgeoning national debt has overshadowed any real economic recovery. Fractional banking and corrupt wall street derivatives, with a worldwide ripple effect, caused the 2008 crash. This radio interview is a red alert. We could become the next Greece. Hear about Obama and Biden meeting with the Fed, discussing martial law; institutions like the FDIC, IMF, holding emergency meetings, and other goings on.
Published on Apr 15, 2016
Note – The very last part of this broadcast, he gets his history wrong. Neville Chamberlain came back with a useless paper signed by Hitler that he had no more territorial claims in Europe, after they gave Germany a region called the Sudetenland. From Wikipedia -From 1918 to 1938, after the breakup of the Austro-Hungarian Empire, more than 3 million ethnic Germans were living in the Czech part of the newly created state of Czechoslovakia. As the previous appeasement of Hitler had shown, the governments of both France and Britain were intent on avoiding war. The French government did not wish to face Germany alone and took its lead from the British government of Prime Minister Neville Chamberlain. Chamberlain considered the Sudeten German grievances justified and believed Hitler’s intentions were limited. Both Britain and France, therefore, advised Czechoslovakia to concede to Germany’s demands. This was the 30th of September 1938, 11 months before Hitler’s invasion of Poland, starting WW II.
Donald trump Meet The Press FULL Interview 10/4/2015
Link courtesy of Governmental Deception –
Fasten Your Seatbelts – The next set of dominoes to fall will make 2008 look like a Boy Scout!
This is very peculiar. Governmental Deception started following my WP blog. I visited that site, which contained a posting from LaRouchepac.com. entitled “Voice of Russia Interviews LaRouche: There Has To Be A NEW ‘World Order”.
Naturally, this was a red flag to me; I don’t know squat about this LaRouche character. I clicked on the link to that site to read the entire article.
LaRouche claims to be a Patriot. Fat chance, I’m thinking. His statements irked me. Further perusal of this site revealed this item:
A Warning About the Exploding Derivatives Markets
The subject matter was exactly what I’ve been thinking all along: We’ve learned NOTHING from the 2008 collapse! The Bankers and the FED are acting like “business as usual”; the financial “house of cards” has been stacked ever higher, with more at risk than before, and much more precarious. Here is the article:
“We’ve reformed nothing. We have more leverage and more derivatives risk than we’ve ever had,” reports an analyst for a structured finance broker-dealer, speaking of the latest bubbles in the global, unregulated, over-the-counter derivatives markets, to the Aug. 20 Financial Times.
On Tuesday it was 15 members of Congress confronting the Federal Reserve on the fact that it was still making rules allowing it to bail out big, bankrupt banks with trillions in liquidity injections, to keep them going as zombies. Today the Financial Times is warning that exotic credit derivatives are again exploding in volume, which can turn completely toxic to financial institutions in case of market volatility, a disease that could be called “AIG syndrome.” The Financial Times begins by citing a warning on this from Kyle Bass, founder of the Dallas hedge fund Hayman Capital Management, who published the first detailed warning, back in early 2007, that credit derivatives would bring down the banking system.
The FT‘s story is that Wall Street banks are piling into the issuance of extremely complex credit derivatives which are bets on entire global securities and credit markets — total return swaps — or bets on indices of credit default swaps, known as swaptions. JPMorgan Chase’s London Whale team lost $6 billion on these, so they’re not for sophisticated investors any more than for unsophisticated ones, but the fees make them very profitable for banks issuing them. The leaders, though not named in the FT article, are Goldman Sachs, Morgan Stanley, and … JPMorgan Chase.
Taking the swaptions, for example, $60 billion of them are now being traded every week. The proliferation is due to a trans-Atlantic credit market situation of very low interest rates — forced by the central banks — and virtually no market volatility, because of the huge amounts of liquidity being pumped in by the central banks, most of it seeking exactly the same high-yield, high-risk securities.
“The markets don’t really need a Lehman or even a Lehman-lite event for a credit dislocation,” a hedge fund manager is quoted. “You just need spreads to widen or rates to go up.”
Before you read this conservative’s rant on the minimum wage, which, for the most part is correct, I must give you some food for thought on the other side of this coin – CORPORATE GREED.
At the age of 21, (1973) in my opinion, the so-called “American Dream” was already mortally wounded. Manufacturers had already started having their appliances, stereo systems, and other items assembled in Japan, and shipped here for retail sales. Not like in the 50’s, (I was likely in diapers then) when an American manufacturer paid an American worker a decent wage, turned out an AMERICAN made product, sold in America, thus “keeping the money in the family”.
An American made a living, -not subsistence- Americans bought the product, and the sale helped an AMERICAN economy. One of my first political satire videos has a brief introduction describing the mindset back then. I was only six – perhaps seven.
Dec – 2010: Hands In Your Pockets
My father worked for an Insurance company. He had a new associate, a real “go-getter”, -as the vernacular of that time went- on his staff, who was making sales records and had landed a large contract with U.S. Steel. The memory was quite clear and stayed with me to this day. I happened to be overhearing him discussing this with my mother, and if this isn’t an example of where we WERE, I don’t know what is.
At the time, selling one million dollars of insurance in a year was one heck of an achievement. I can’t be totally sure of the contract value, but somehow, that was the figure I recall. Anyway, the conversation was about the agent preparing to sign the contract with the U.S. Steel representative over lunch. CLUE: In 1958 how many Volkswagens do you recall seeing?
They’d gone out to the parking lot, and the representative asked the agent “Is this your car?” (It was) The representative TORE UP THE CONTRACT. I vividly remember my father saying something like “That’s why there’s the expression “Buy American!”…
My work ethic was old school. I “put my nose to the grindstone”, applied myself, thought that working hard and diligently would be properly rewarded by employers. Somehow, not having a D*** college “sheepskin”, I never was able to break out of mostly minimum wage jobs. Jobs that didn’t allow me to save anything for the proverbial “rainy day”, have an emergency fund for things like car repairs, or anything that made life any more then survival.
In the 80’s, I was making around $5.00 an hour in retail; manufacturers so-called warranties on items were usually “90 days on labor, 1 year on parts from date of purchase”. What a joke! The reality was, even if the item malfunctioned during the warranty period, it was the responsibility of the consumer to have kept the original box and packing material, pay the cost of returning the item to the manufacturer, and wait “four to six weeks” for the repaired item. This is why icons like Montgomery Ward had service contracts (for which the sales person, moi, would get a minuscule bonus) that allowed the person to return it to the store, and get it repaired, or if not feasible, replaced without charge. Large appliances like refrigerators had in home pick-up for repair/replacement additions on these.
Given the frequency of defects in stuff even then, long before everything started being made in (omitted) China, these service contracts were a real value, and I made every effort to explain this to my customers. Many thanked me when, for example, their crazy “hundred dollar specials” -what I was calling the bare bones Hoover and Eureka Vacuums- screwed up, and they could get an immediate replacement, since their construction mostly precluded any attempt at repair.
Never mind my present employment or wages… I’ve been put in a close to homeless position several times in the last six years by this “free market” and I still have the same work ethic, for all it has gained me. I’m not a progressive. I would like to see our government think outside the box, and do two things: Use as an incentive, a lowering of the corporate tax to (they’d piss themselves) 10 percent, -I think its about 35 percent now- in exchange for getting the hell out of overseas manufacturing, and bring the jobs back here.
Also, pull their heads out of their backsides and stop fighting coal. We have the lion’s share, and America would be much better off. China doesn’t give a flying F*** about air pollution, far better to allow our resources to fuel our economy instead of faulty “green” technology, and strangling business.
Fake Dog Crap and Equal Misery
Written on Friday, December 27, 2013 by Rod Bedard Jr.
I was listening to Andrew Wilcow (The Wilcow Majority) on Sirius XM Patriot the other day. If you don’t know from Wilcow he is, among other pursuits and projects, a Conservative talk radio guy. The subject was about the minimum wage, the McDonalds employees who want 15.00/hour, etc. One of the things that Wilcow is always talking about is the idea of “market distortions” and how they are, by and large, created by Government interference in free market capitalism. Market distortions aren’t good because guess what….they DISTORT THE FREE MARKET! And there are really bad consequences.
The example he used was fake dog crap made in China…one of the early, cheap Chinese imports to the U.S. along with fake vomit, but let’s stick to the dog crap. I won’t try to quote him but here is the gist of it: Who buys fake dog crap and why? Why would you spend your hard earned money on fake dog crap? Because you want to play a joke on someone, right? So you’re wandering through the isles at MegaMart and you see fake dog crap for $1.99. You think you could pull a fun gag on your wife with it and it’s totally worth the $1.99 to “get her”. But let’s say that fake dog crap was made in New York instead of China. The cost of doing business in New York, like most of America is much higher than in China and it isn’t all because of wages. The regulatory, bureaucratic, compliance and tax burdens would cause the fake dog crap to cost much more than $1.99. It would cost more like $12.99. The question becomes would you spend that to play a fake dog crap gag on someone? Not likely. New York will have priced itself out of the fake dog crap market and so it is with much of the manufacturing of ANYTHING here in the U.S.
The McDonalds employees who are protesting their wages and want $15.00 an hour should try and buy fake dog crap made in New York. They are trying to push McDonalds to the same place. They talk about getting a “living wage”. I ask you, since when is the minimum wage supposed to be a living wage? It’s the MINIMUM WAGE! Most of us get that it is where you start out in the workforce. It isn’t SUPPOSED to be a living wage and CANNOT BE. As Wilcow notes (and this ain’t news folks…we’ve all seen this happen before), there can be only two outcomes for the McDonalds employees should they get what they want and they’re both bad. If McD’s was made to pay 15.00/hour, the burgers they sell would be like New York fake dog crap….and cost more than most people are willing to pay. They would either price themselves out of the burger business and close the stores OR they’d install the soon to be available robo-burger machines that make the burgers as well as a human. Either way the employees wind up the same way…out of a job.
In my opinion if you want to fight and scratch and work and claw your way all the way up to “burger boy” and just stop there, don’t expect to make a fat salary and enjoy job security. In fact if that is as far as a person wants to push themselves then they deserve low wages and not much of a future. Those jobs are largely for the youth starting out and getting their feet wet in the workplace, and for adults who want to supplement their income part time (often retirees who need it). Those jobs don’t DESERVE big pay. In the world of work, those jobs are an entry onto the track, not a speedy crossing of the finish line with a big “everybody wins” trophy waiting. Minimum wage is not and cannot be a living wage. Free market capitalism is the best system ever conceived for free people to move themselves up the proverbial ladder of success. Government distorts the market with all its manipulation and interference and never really helps at all…they just muck up the works. I recently heard some of those silly, foolhardy voices on the Left suggesting we should have a national “Mincome”. A minimum income. Think about that and what the ramifications would be. Right off the top the cost of everything would skyrocket. Also, those “less than ambitious” people among us would have even less reason to try and maximize their own potential. In the end however, the increased cost of goods, the “robo-burger” factor, employee cutbacks to offset higher costs…would all add up to no gain and even less jobs available for the very people screaming for a minimum income. Every time the minimum wage is raised it makes it that much harder for the young person, the entry level worker and the retired who need more money, to find a job. If an employer has to pay a minimum $12.00/hour to an employee, he can find twenty-something’s and even older to take those jobs. He doesn’t have to hire an inexperienced high-schooler or a senior who would be grateful for a job at $9.00/hr. They get priced out of the market. The minimum wage is not and cannot be a living wage. It doesn’t work. And the idea of a “mincome” is a foolish idea that only a Progressive could dream up.
The Progressive idea of Utopia and “equal outcomes” is completely ridiculous and has and always will be a failure and a disaster for the citizens. The people in D.C. who are so Progressive, who so want all this equality and fairness are the people who don’t live under the system they’ve set up for us. Where’s the fairness and equal outcome in that? The people running America don’t have to do Obamacare. Can serve a term and retire with fat bennies. Get to use info they are privy to, to trade in stocks in a manner that would get you and me put in jail. They want us to be disarmed while they are not only NOT disarmed, they have armed people guarding them. You see, they are the all-knowing, very important people who must tell us how to live and what laws we’ll have but they exempt themselves. Their lives are more important than ours. That is their message.
What this ruling class wants is control over us all and every market distortion they create hurts us as a Nation. Free markets, free from excessive government interference is the way we all can better ourselves, grow jobs and the economy and offer those who want to WORK a path to their dreams whatever they be. It is that or we can accept the ruling class vision for us…one of equal outcome…one of equal misery.
Read more at http://patriotupdate.com/articles/fake-dog-crap-equal-misery/#bCW3sSIF6Ees2r1F.99
When Woodrow Wilson (regardless of his later regret) sold us down the river with the “Federal” Reserve and the IRS in 1913, we started down the road to the financial worthlessness of our currency.
United States Founding Father
(1743 – 1826)
Thomas Jefferson (April 13, 1743 – July 4, 1826) was the third President of the United States (1801–1809), the principal author of the Declaration of Independence (1776), and one of the most influential Founding Fathers for his promotion of the ideals of republicanism in the United States. Major events during his presidency include the Louisiana Purchase (1803) and the Lewis and Clark Expedition (1804–1806).
I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.
A private central bank issuing the public currency is a greater menace to the liberties of the people than a standing army.” We must not let our rulers load us with perpetual debt.”
The Financial Times, a British publication, has run an article saying that two unnamed officials at two unnamed large American banks say that any move by the Federal Reserve System to eliminate the paltry interest rate of no higher than 0.25% on excess reserves will lead banks to start charging for free checking accounts.
Excess reserves are accounts held by commercial banks at the Federal Reserve. This money does not enter the economy. This in turn keeps the money from multiplying through the fractional reserve banking system. It keeps price inflation low.
Why couldn’t banks lend this money to businesses? No deal, says one of these unnamed bankers. “It’s not as if we are suddenly going to start lending to [small and medium-sized enterprises]. There really isn’t the level of demand, so the danger is that banks are pushed into riskier assets to find yield.”
Let me interpret this. “Today, four years into the so-called economic recovery, businessmen still are unwilling to borrow money — not even at historically low interest rates.”
Some unnamed Federal Reserve officials have said that the FED can save money by stopping these payments. The response by the two unnamed officials at the unnamed banks is a counter-threat.
“Right now you can at least break even from a revenue perspective,” said one executive, adding that a rate cut by the Fed “would turn it into negative revenue – banks would be disincentivised to take deposits and potentially charge for them”.
There are actually senior banking officials who use the word “disincentivise.” This is a bad sign.
Continue Reading on www.ft.com
The following is, of course, a secular viewpoint. Christians can read between the lines.
To avoid the long, drawn out spiel, click off the tab, and click on “stay on the pg” pop up, to read this economic commentary. This is an excerpt. For the entire analysis. here is the URL:
This Upcoming Event Could Ruin Barack Obama’s Entire Presidency
And it would result in some of the most dramatic changes to ordinary American life in more than 50 years.
Hello. My name is Porter Stansberry.
Fourteen years ago, I founded Stansberry & Associates Investment Research. It has since become the largest firm of its kind in the world. We specialize in financial research, and serve hundreds of thousands of paid subscribers in more than 120 countries.
You may know of our firm because of the work we did over the last several years – helping investors avoid the big disasters associated with Wall Street’s collapse.
We warned people to avoid Fannie Mae and Freddie Mac, Lehman Brothers, General Motors and dozens of other companies that have since collapsed.
We even helped our subscribers find opportunities to profit from these moves by shorting stocks and buying put options. To my knowledge, no other research firm in the world can match our record of correctly predicting the catastrophe that occurred in 2008, and the rebound that has occurred since then.
The video presentation we created three years ago, to explain the financial crisis, and our thoughts on what would happen next, has become the most-watched on-line financial video in history, as far as we can tell.
But that’s not why I created this follow-up presentation.
I reference our success and experience with Wall Street’s latest crisis because we believe there is an even bigger crisis lurking –something that will shake the very foundation of America.
I know that to most people, the situation seems to be getting better. Stocks have recovered nearly all their losses. Real estate has rebounded. Unemployment and bankruptcies have dropped. But here’s the thing:
The unfortunate reality is that we are actually in a much more dangerous and precarious place today than we were five years ago.
And that is why I’ve spent a significant amount of time and money in the past few months preparing this presentation.
In short, I want to talk about a specific event that will take place in America’s very near future… which could actually bring our country and our way of life to a grinding halt.
This looming crisis is related to the financial crisis of 2008… but it is infinitely more dangerous, as I’ll explain in this letter.
As this problem comes to a head, I expect there will be a near-complete shut-down of the American economy. Life as we have known it for more than 40 years will essentially cease to exist. Our governments on both the Federal and State level will shut down. Banks will not open. Businesses will at least temporarily shutter their doors. I expect we’ll see martial law, enforced by the U.S. military.
Believe me, I don’t make this prediction lightly and I have no interest in trying to scare you.
I’m simply following my research to its logical conclusion.
I did the same when I tracked Fannie Mae and Freddie Mac’s accounting. Also with General Motors, Lehman Brothers and the rest. And when I began giving this warning in 2006 no one took me very seriously… not at first. Back then, most mainstream commentators just ignored me.
And when I presented my case and exposed the facts at economic conferences, they got angry. They couldn’t refute my research… but they weren’t ready to accept the enormity of its conclusions either.
That’s why, before I go any further, I have to warn you…
What I am going to say is controversial. It will offend many people… Democrats, Republicans, and Tea Partiers, alike. In fact, I’ve already received dozens of pieces of hate mail.
And… the ideas and solutions I’m going to present might seem somewhat radical to you at first… perhaps even “un-American.”
My guess is that, as you read this letter… you’ll say: “There’s no way this could really happen… not here.”
But just remember:
No one believed me four years ago when I said the world’s largest mortgage bankers – Fannie Mae and Freddie Mac – would soon go bankrupt.
And no one believed me when I said GM would soon be bankrupt as well… or that the same would happen to General Growth Properties (the biggest owner of mall property in America).
But again, that’s exactly what happened.
No one believed me in 2011 when I said the crisis would cause “riots in the streets.” Then came the protests in Wisconsin, and the Occupy Wall Street movement all over the country.
And that brings us to today…
The same financial problems I’ve been tracking from bank to bank and from company to company for the last six years have now found their way into the U.S. Treasury. I’ll explain how this came to be. What it means is critically important to you and every American…
The next phase in this crisis will threaten our very way of life.
The savings of millions will be wiped out. This disaster will change your business and your work. It will dramatically affect your savings accounts, investments, and retirement.
It will change everything about your normal way of life: where you vacation… where you send your kids or grandkids to school… how and where you shop… the way you protect your family and home.
I’ll explain how I know these events are about to happen. You can decide for yourself if I’m full of hot air.
As for me, I’m more certain about this looming crisis than I’ve been about anything else in my life.
I am literally afraid for my family’s future, and I have taken drastic steps to prepare for what I know must inevitably happen next.
I know that debts don’t just disappear. I know that bailouts have big consequences. And, unlike most of the pundits on TV, I know a lot about finance and accounting.
And this is all coming to a head much, much sooner than most Americans think.
Of course, the most important part of this situation is not what is happening… but rather what you can do about it.
In other words… Will you be prepared when the biggest financial crisis in America in more than 50 years, hits?
Don’t worry, I’m not organizing a rally or demonstration. And I’ve turned down every request to run for political office.
Instead, I want to show you exactly what I’m doing personally, to protect my family, and to protect and perhaps even grow my money, and how you can prepare as well.
You see, I can tell you with near 100% certainty that most Americans will not know what to do when commodity prices – things like milk, bread and gasoline – soar. They won’t know what to do when banks close… and their credit cards stop working. Or when they’re not allowed to buy gold or foreign currencies. Or when food stamps fail… or their Social Security checks come to a halt.
In short, our way of life in America is about to change – I promise you. In this letter I’ll show you exactly what is happening, and why it is inevitable.
Again, you can challenge every single one of my facts and you’ll find that I’m right about each allegation I make.
Then, I hope you’ll take action for yourself.
Will you act now to protect yourself and your family from the catastrophe that’s brewing right now in Washington D.C.?
I hope so. And that’s why I wrote this letter.
I’m going to walk you through exactly what I am doing personally, and what you can do as well. I can’t promise you’ll emerge from this crisis completely unharmed – but I guarantee you’ll be a lot better off than people who don’t follow these simple steps.
But I’m getting ahead of myself just a bit.
Let me back up and show you in the simplest terms possible what is going on, why I am so concerned, and what I believe will happen in the next 12 months…