Elizabeth Warren Calls For Investigation Of NY Fed Over Secret Tapes

Sen. Elizabeth Warren (D-MA) called on Congress to investigate accusations that the New York Fed did not regulate private banks with enough scrutiny. (AP Photo/Timothy D. Easley) | ASSOCIATED PRESS

Sens. Elizabeth Warren (D-Mass.) and Sherrod Brown (D-Ohio) are both calling for Congress to investigate the New York Federal Reserve Bank after recently released secret recordings show the central bank allegedly going light on firms it was supposed to regulate.

Warren and Brown, both members of the Senate Banking Committee, called for an investigation of the New York Fed after Carmen Segarra, a former examiner at the bank, released secretly recorded tapes that she claims show her superiors telling her to go easy on private banks. Segarra says that she was fired from her job in 2012 for refusing to overlook Goldman’s lack of a conflict of interest policy and other questionable practices that should have brought tougher regulatory scrutiny.

After Segarra made the tapes public in a joint report with ProPublica and This American Life on Friday, Warren was quick to call on Congress to take action.

“Congress must hold oversight hearings on the disturbing issues raised by today’s whistleblower report when it returns in November, because it’s our job to make sure our financial regulators are doing their jobs,” Warren said in a statement on Friday. “When regulators care more about protecting big banks from accountability than they do about protecting the American people from risky and illegal behavior on Wall Street, it threatens our whole economy. We learned this the hard way in 2008.”

In an interview with This American Life and ProPublica, Segarra described numerous instances in which she said she alerted her bosses to questionable practices at Goldman. In one instance, she said she alerted a colleague that a senior compliance officer at Goldman had said that the bank’s view was that “once clients became wealthy enough, certain consumer laws didn’t apply to them.” Segarra claims that her New York Fed colleagues asked her to ignore the remark and change meeting minutes she had taken, which contained evidence of what the Goldman executive said.

“These allegations deserve a full and thorough investigation, and American taxpayers deserve regulators who will fight each day on their behalf,” Brown said in a statement

This American Life and ProPublica also unearthed an internal study by the New York Fed in 2009, which found that the institution had a culture where regulators had gotten too cozy to the banks they were supposed to scrutinize and were discouraged from voicing their honest opinions.

In statements released in response to the This American Life and ProPublica report, both the New York Fed and Goldman Sachs denied any kind of wrongdoing.

“The New York Fed categorically rejects the allegations being made about the integrity of its supervision of financial institutions,” the Fed said in a lengthy statement on its website. “The decision to terminate Ms. Segarra’s employment with the New York Fed was based entirely on performance grounds, not because she raised concerns as a member of an examination team about any institution.” The bank added that it could not comment further on the tapes because Segarra is still pursuing a wrongful termination suit against it.

In its own statement, Goldman Sachs went after Segarra, saying that she applied for employment there multiple times and that it has long had a comprehensive conflict of interest policy.

Source.

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A Whole New World: China reclaims Economic Superpower Crown from USA

by Lady Michelle-Jennifer Santos, Chief Visionary Founder & Owner

Sunday, Sept. 28 (TSR) – Leaders and citizens in developed nations need to be prepared for a major psychological, economic, cultural and political shift, which will impact the rest of this century. From Monday and beyond,China reclaims her crown as top World Economic Superpower, demoting theUnited States of America into second place.

According to estimates released by the World Bank’s International Comparison Program (ICP), China’s purchasing power-adjusted GDP is higher than originally thought which resulted in a radical change in calculations of comparable basket of goods and services across the globe, so-called purchasing-power parity (PPP). Using the cost of living data in 199 countries in 2011, the Dragon’s rise as world’s biggest economy is five years sooner than most economists had previously expected. Based on the new data and comparison from the previous survey in 2005, China performs to an astounding 20% higher result than what many economists thought.

China’s rise over the past decade has indeed been dramatic and its economic success on the world stage is impressive.

For the past 30 years, the annual growth rate has been around 10 percent. Based on conventional measurements, China overtook the United Kingdom in 2006 to become the world’s fourth largest economy. In 2009 it moved past Germany and in 2010 it drove out Japanto become the world’s second largest economy.

China has overtaken the U.S. as the world’s largest trading nation, taking the title in 2013 and has been the world’s largest exporter since 2009, and is now the world’s largest trader overall.

Powered by 1.4 billion people who both produce and consume goods, China’s trade surpassed $4 trillion in 2012, with exports rising 7.9 percent and imports rising 7.3 percent. The nation’s trade surplus, or what the country is profiting by is almost $260 billion for 2013.

Based on purchasing power parity (PPP), the figures suggest that China’s GDP will reach $17.9 trillion by end-2014, compared to $17.5 trillion for the US. This is a contrast to the IMF’s calculations on GDP using current price levels and market exchange rates, which puts US GDP in 2014 at $17.5 trillion and China’s at $10.0 trillion as Lúcio Vinhas de Souza, a Moody’s Managing Director and Sovereign Chief Economist, explained in May this year.

In the past decade, China has managed to maintain its GDP growth rate between 8-9 percent. It is that consistency that has garnered them their rightful place.

China has long set its sights on becoming the world’s dominant economic powerhouse, as well as a dominant figure in Asian politics. To accomplish this, the nation has cracked down on inaccurate and inflated trade numbers, which it no longer needs to inflate to make itself appear powerful. China has accomplished its initial mission.

“While it had been expected that China’s GDP would surpass US GDP in the medium term, new estimates — compiled by the World Bank’s ICP — indicate that China’s emergence as the world’s biggest economy will take place by the end of this year, five years sooner than most economists had previously expected,” Vinhas de Souza said in May.

Some economists based their calculations on nominal GDP and estimate that it would be few more years for China to become number one. However, many economists including those of the World Bank and IMF as well as investment banks around the world are banking on purchasing power-adjusted GDP, which is believed to be more accurate and stable.

PPP exchange rates provide a more representative way to compare the relative size of economies than volatile market exchange rates, as price levels, especially for non-tradable goods and services, are normally higher in high-income economies,” Vinhas de Souza explained.

Market exchange rates are also influenced by factors such as currency speculation, interest rates, government intervention, and capital flows between economies.

The same World Bank data, which was released in April 2014 — also highlights the rising economic importance of middle income economies. The report shows the ascending rankings of India, Russia, Brazil, Indonesia,Saudi Arabia and Turkey,which accounted for 31.6% of global GDP in 2011, and is an increase of 9.0 percent from the 22.6% in 2005.

In the same the report, the share of global GDP for the other 13 largest economies, classified as high-income economies, decreased to 44.9% from 56.3% over the same period.

Using also the PPP methodology, China now accounts for the largest share of the world’s investment expenditure at 27%, compared with 13% for the United States.

Asia and the Pacific, including China and India, accounts for 30% of world GDP, Eurostat-OECD 54%, Latin America 5.5% (excluding Mexico, which participates in the OECD, and Argentina, which did not participate and Argentina, which did not participate in ICP 2011), Africa and Western Asia about 4.5% each.

In terms of investment at 27%, China now has the largest share of the world’s expenditure for investment (gross fixed capital formation), followed by the United States at 13%, India (7%), Japan (4%) and Indonesia (3%).

Americans Most Woefully Unprepared of What’s To Come

Congratulations, President Xi Jinping.

As the world’s center of gravity now shifts to Asia as of next week, the United States of America – its leaders and citizens, who still live under prideful denial and arrogant ignorance, is the woefully unprepared of all by this incoming tectonic shift.

Until today, American leaders and the public refuse to listen and open their eyes, especially neocon, zionist (and tea party) warmongers.

Lost in the illusion that they are “the sole beacon of light in a dark and unstable world” and severely suffering from Savior Complex, most Americans are blind to a simple, mathematical truth: With just 400 million people, the United States can no longer deny the global economy’s new realities for much longer. With nearly $18 trillion in ever growing debt due to warmongering and irresponsible fiscal governance, they can no longer dominate the rest of the world, because Asians, with 60% of the world’s population, are now the best performers.

Asia’s middle class is transforming at an accelerated pace. Expected to skyrocket from roughly 500 million people today to 1.75 billion by 2020, it will inevitably catapult Asia from economic power to global leadership.

China’s number 1 position is particularly important when calculating the balance of power and the distribution of voting strengths in international organizations. The Asians, in particular the Chinese, can now officially flex its own muscles by demonstrating its economic strength, which also gives it influential political power.

China’s stature and influence, affects and changes the balance of power on a global scale, something that United States has had nightmare from for awhile now, which should explain all the destabilisations that has been going on from Arabspring, Libya, Syria, Sudan, Ukraine, now Iraq to name a few.

Case in point, the International Monetary Fund (IMF) and the World Bank.

In July, the BRICS countries agreed to start a New Development Bank (NDB) with $100 billion in capital where China will contribute nearly half, or $41 billion, of the total, with Russia, Brazil and India chipping in $18 billion apiece and South Africa contributing $5 billion respectively. Together, the five emerging economic giants, which generate about a quarter of the world’s economic output and hold 40 percent of the world’s population, will maintain majority control over the new institution.

The multilateral NDB is a clear hard slap at the U.S. dominated World Bank and IMF, who have hesitated for years to make changes to reflect and accommodate the fact that China is poised to overtake the U.S. as the world’s largest economy, plus nearly half the world’s economic activity now occurs in the developing world.

In an added show of defiance and disenchantment with the U.S. and its allies, the BRICS plan to establish a major new alternative pool of $100 billion in currency reserves that they would maintain and control outside the IMF. Once the new bank starts borrowing in global financial markets, this will likely outstrip the size of the World Bank, with annual lending of $34 billion as some analysts predict.

The new BRICS-led institutions will change the global finance landscape that was established by the U.S. and its European allies after World War II. The move is seen as breath of hope for many struggling nations who suffered from the hands of American unjust policies.

By 2040, USA will be a dwarf

A few years ago, Nobel economist and a renown China scholar Robert W. Fogel bluntly warned the world what’s ahead with the headline of a Foreign Policy feature: “$123,000,000,000,000: Why China’s Economy Will Grow to $123 Trillion by 2040.”

“In 2040, the Chinese economy will reach $123 trillion, or nearly three times the economic output of the entire globe in 2000. China’s per-capita income will hit $85,000, more than double the forecast for the European Union, and also much higher than that of India and Japan as China moves “from a poor country in 2000 to a superrich country in 2040,” he wrote.

America’s per-capita wealth may be higher, says Fogel, but “China’s share of global GDP — 40% — will dwarf that of the United States (14%) and the European Union (5%) 30 years from now.”

Unfortunately, America’s myopic warmongering adventures, is not helping the situation, creating more war debt rather than jobs.

The US keeps sliding into a no-growth economy, to 1% GDP growth in a generation. The Americans can thank warmongers like Sen. John McCain, the other neocons and Zionists who conned the US into the $3 trillion Iraq War, Libya, Syria and now the ISIS (permanent) war, who still believe the future will be won by aggression, armies, battleships and a half trillion a year defense budget. Because of them, the US continues to crumble from within: Poor infrastructure, rising taxes, political corruption, decaying educational system, dumbed down population, obesity, rise in violence, militarized police, while jobs and profits go overseas fattening foreign economies.

Moral decay is also a huge factor in the nation’s decline.

Whereas, Asia is speeding way ahead and winning the economic and political war.

In comparison, with China’s massive flowing profits flowing, the country has evolved into a new phase of hegemony which includes a number of things. Mao is now replaced by Edmund Burke as revolution becomes passé and conservatism entrenches the establishment, which is the Communist Party. America is more communistic than China per today.

In the high finance arena, the nation has expressed their goal to become the world’s reserve currency and gold exchange capital.

The Chinese government has been actively seeking to internationalise the renminbi to match China’s global economic status. Their policy is to promote international use of the renminbi in three stages through trade, investment and as a reserve currency. The Chinese dream is around the corner: The renminbi (RMB) – the official currency of China – is poised and expected to join the US dollar and the euro as one of the world’s top three global trading currencies in terms of volume by the end of 2015, and within five years, it could be fully convertible, bypassing the Japanese Yen.

Earlier this month, UK government embraced what is inevitable, and now plans to issue the “world’s first” Renminbi (RMB) denominated sovereign bond outside China “in the coming weeks” and will be used to finance the government’s reserves of foreign currency.

China is already one of the world’s largest investors in Africa and Latin America, both continents which remain very rich in natural resources.

The Chinese are also now developing a Moon landing program as they aim to become the second country to land a person on the Moon.

China has resurrected as a dynamic and rapidly growing economy with a greater vision for regional influence – staking controversial territorial claims and spending billions more each year on army, navy and airforce, building up their military, modernizing equipment and constructing new assets – to project power further into the Pacific and South China Sea.

All this while it keeps investing in its future, creating jobs, building infrastructure, working towards clean energy, building high speed trains to connect Asia with Europe, rebuild the New Silk Road to connect the entire world, funding education and technology and its GDP soars.

Under the leadership of Prime Minister Li Keqiang and President Xi Jinping, the government has been vigilant in cleaning out corruption and deviant uncivilised behavior, with crackdown on people slandering and explicit pornographic content on websites. The Chinese are resurrecting Confucian values.

Beware the historical ignorance that the propagandists have been spewing. China has never colonised any overseas territories nor they plan to do so. They are and have been consistent with their peaceful development.

This is the most dramatic power shifts in human history. This is the true transformation which Americans and the West must learn to embrace and must abandon ingrained barbaric ideas and old assumptions.

The door is now being open to liberate unthinkable thoughts and to think the unthinkable. It is time stop denying the end of American dominance in world affairs.

Behold, the Warmongering Century ends, and the Peace Warrior Century begins.

Welcome back, Middle Earth Kingdom.

Source.

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Harper Watch – September 13 to 27, 2014

Originally posted on Harper Watch:

The House is back and Harper government absurdities and atrocities abound in the latest issue of Harper Watch!

Huffington Post – NDP MP’s Facepalm Captures A Nation’s Frustration
(This article include a MUST WATCH video clip of this interview.)

Conservative MP Paul Calandra’s attempt to defend his performance in question period made an NDP rival facepalm right beside him on live TV Wednesday.  Calandra, the parliamentary secretary to the prime minister, was widely criticized and mocked this week after he responded to a straightforward question on Canada’s mission in Iraq with a bizarre non-sequitur about Israel.

On Wednesday night, Calandra appeared on CBC’s Power & Politics with NDP foreign affairs critic Paul Dewar and Liberal foreign affairs critic Marc Garneau. Near the end of the segment, the conversation shifted to how Calandra is answering questions in the House on behalf of the government. Dewar accused the Tory MP of relying…

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The Collapse of the American Economy Has Begun

by Dave Hodges | September 27, 2014 11:28 pm

CSS Offical-New-Logo2

Susan Duclos recently interviewed “V” the Guerrilla Economist and the following information was revealed in this landmark interview:

The process of undermining the US dollar is well on schedule as well; more than 105 countries have decided that the dollar no longer works for them, joining Russia, China and other BRICS nations in leaving the dollar as the entire world comes to the realization that America’s leaders are insane. Their recklessness and evil ways have left tremendous shame upon our nation. Though there has been much manipulation and propping up, but that is only setting us up for the inevitable massive crash.

“V” begins by updating us on recent information that he has received from his 4-Star General source and warns that events are still on schedule, a schedule that he previously warned would leave the US dollar ‘undermined’ by 2015 and the US ceasing to exist as a nation by 2017“.

The interview can be accessed through the following link. I highly recommend listening to this interview.

On the surface, these claims appear to border on hysteria. However, as history has proven, time and time again, that Susan Duclos and “V” are to always be taken seriously when revealing controversial information.

Subsequently, I proceeded to find confirming, or disconfirming evidence, that these claims are accurate and should taken seriously by all Americans. Both the direct and ancillary evidence serves as overwhelming in support of V’s claims and Susan’s reporting.

Halfway to Economic Armageddon

“V’s” claims notwithstanding, the American economy is already in severe danger as we consider the following facts.

There are 35 states in this country in which it is better to accept welfare than work at an entry level job. Much like crack cocaine or heroin addicts, much of our nation is hopelessly addicted to living in the welfare state or on unsustainable levels of credit.

welfare by state

From a micro perspective, the personal economic health of America is abysmal. According to the U.S. Census Bureau, more than 146 million Americans[3] are either “poor” or “low income”. Stunningly, more than 100 million Americans are enrolled in at least one welfare program run by the federal government, not including the massive entitlement programs of Social Security or Medicare. The number of people on food stamps has grown to 47.79 million Americans[4]. In 2008, when Obama first took office, only 32 million Americans were on food stamps. Approximately, 20.2 million Americans[5] spend more than half of their incomes on housing, which represents a 46% increase from 2001. Parents under the age of 30 experience poverty rates consisting of 37 percent[6]. The number of Americans living in poverty has grown to one out of every six[7] US citizens.

The above information could be considered to be the good news. What follows is grim.

Watch the Credit Swap Derivatives

In the United States, credit swap derivatives created national debt totals of over one quadrillion dollars. That is one thousand trillion dollars! The entire GDP of the planet is estimated at $66 trillion dollars. And somehow, in the infinite wisdom of Congress in 2008, we falsely and naively believed that a $750 billion transfer of wealth (i.e., Bailout #1) was magically going to save the economy and the collective futures of the American middle class. Please let me repeat that the most conservative estimate is that the derivatives debt is 10 times greater than the GDP of the entire world[8]. Most economists estimate the number to be 16 times greater that the GDP of the planet!    

In short, the debt created by futures speculation is approximately 10-16 times greater than the sum total of the entire wealth on the planet! It would not matter if the debt was only two times the GDP of the planet, we do not have the capacity to pay down this debt. The interest on the debt is growing faster than the rise in national revenue. And we think we are going to climb out of this? Let’s take a moment and discuss the derivatives debt. 

Five of the “too big to fail” banks in the United States that have more than 40 trillion dollars in exposure to derivatives[9]. The national debt is sitting at a grand total of almost 18 trillion dollars. The sum of 40 trillion dollars is almost unfathomable.

Credit swap derivatives trading is not too different from betting on baseball or football games. It is gambling, it is a Ponzi scheme and Wall Street bankers should be in jail. However, this is the new economic landscape of America. The name of the game is the “Last American Garage Sale” where these bankers are positioning to steal all the assets possible before the collapse.

credit swaps

Please note that under the category, in the above illustration, “Widgets “R” US Corp“, the banks loan the money. In other words, if this Ponzi scheme fails, the banks which underwrite and guarantee the entire process, will eventually fail!

The credit swap derivatives are bad enough, but when we carry over the economic implications to the health of the banking system, the banks are bordering on total collapse along with all of your saved earnings.

Most Americans Think That Their Deposits Are Safe

Some readers have written to me and have dutifully reminded me that the FDIC is at their bank standing guard over their deposits. How woefully and depressingly ignorant is that statement?

The FDIC does not have the money to cover your deposits as it has only $25 billion in its deposit insurance fund. By law, the FDIC is required to keep a balance equivalent to only 1.15% of insured deposits on hand. Yes, America, that means that less than 2% of your deposits are covered.

Others have pointed out to me that the Dodd-Frank Act (Section 716)[11] now bans taxpayer bailouts of most speculative derivatives activities. You remember the derivatives don’t you? They were the imaginary wealth that was built upon more imaginary wealth but were guaranteed with hard assets backed by the banks. When this house of cards collapsed, it pulled the banks down and led to the series of bailouts which has devastated our economy.


Therefore, when your bank defaults, and it will, the depositors as well as the banks will turn to the FDIC for relief. The FDIC will have no choice but to draw upon its credit line in order to cover a BofA, Wells Fargo and JP Morgan derivatives bust which has been co-mingled with savings account funds. The resulting effect is that this will require a taxpayer bailout to cover the credit line.This will negate the safety from the bailouts that the public thought that they were receiving under the Dodd-Franks bill of no more bailouts.

What very few people are talking about, and as is the case with all credit lines, this money will have to be paid back. Therefore, the coming default of the FDIC, used to cover the derivatives debt, will become the excuse for another taxpayer bailout. And on and on it goes.

BANKSTERS A
When the last instrument has been looted and then deflated, where do you think that will leave you and your computerized digits that represent the bulk of your self-built financial empire? All of your life, most of you have worked for banker backed interest in some capacity and now, these banksters are stealing back the pittance they paid you in the first place. Where’s Karl Marx when you need him? Bank depositors of the world, unite!

More Bad News

With the banks in debt to the tune of $40 trillion dollars, the pension system is also at risk because the banks and their related financial investment firms underwrote the Credit Swap Derivatives. Moody’s warns in its latest report on the state of public pension systems. As Bloomberg reports, “The 25 biggest systems by assets averaged a 7.45% return from 2004 to 2013, but liabilities tripled over the same period leaving them facing a $2 trillion shortfall as investment returns can’t keep up with ballooning obligations”. The top 25 funds account for 40% of the entire US public pension system. Bloomberg further reports that “The 25 largest U.S. public pensions face about $2 trillion in unfunded liabilities, showing that investment returns can’t keep up with ballooning obligations”, according to Moody’s Investors Service. Americans will be working until they drop dead because, very soon, there will be no such thing as a pension. Very soon, most of these Americans will not have any job to go to.

When this house of cards comes crashing down, how do you think the government will deal with the situation? If you have not listened to V’s interview, I would suggest you do so now.

When Will the Economic Collapse Happen?

The collapse has already started. With 105 nations running from the U.S. dollar as a reserve currency, there is nothing left to back up the dollar. Our currency will hyper-inflate and America’s economy will make the crash of the Weimar Republic look like a picnic.

A German woman in the 1923 Weimar Republic purchasing a loaf of bread. This time is almost upon the American people.

Certainly, even the most ardent sheep understand what the economic collapse of the Weimar Republic led to. What makes us think things are going to be any different?

The crash of the Weimar Republic led to this.

Conclusion

Why did George H.W. Bush build a 100,000 acre ranch in Paraguay? Why is NORTHCOM, a combat organization, engaging in continuing the nonstop urban riot control training? Why are UN military vehicles on our soil? Why did FEMA and DHS schedule 10 disaster drills between September 25th and November 13th? Why are former FEMA and DHS agents[15], as well as many bankers going into hiding in prepared communities?

Are we to believe that all of these factors are unrelated? It is looking more and more like the bail-out money, which was no more than the private theft of public money, is actually doing what the name implies, it is bailing out corporate executives in advance of the coming crash. America is being forced to fund the getaway gifts for those that have stolen so much from the American people!

america burningFactor in the coming Ebola outbreak and the possibility of an EMP attack, the misery factor immediately and exponentially compounds. The American economy is on fire and the only remnants of what once was is a few hollowed out and charred structures.

Once they have our hard assets,the absolute and final crash and burn of the economy will occur and it will be anarchy in the streets. And more of V’s dire predictions, regarding a post-collapse America will undoubtedly come to pass.

Source URL: http://www.thecommonsenseshow.com/2014/09/27/the-collapse-of-the-american-economy-has-begun/


 

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Judge Dale (Retired): A Major Change is Coming October 1st

Judge Dale provides some excellent information about what has been going on behind the scenes in the world of banking. To be honest, his comments about gold being used to prop-up the US dollar seem a bit odd, since the gold standard was abandoned in the early 1970s, but the focus here is on October first, since it is only a few days away.

So much has been going on in the last six weeks, and Judge Dale outlines what may be about to happen in the next few days. I’ve been following the BRICS and gold situations closely, and can easily see what he describes actually happening. -LW


Friday, September 26, 2014 3:46   (Before It’s News)

From what I have been able to deduce and conclude regarding the RV / GCR and this is purely an educated opinion:

The London financial district is part and parcel of a world conglomeration involving the Federal Reserve System; the Bank of International Settlements; IMF, CBI’s, World Bank, and Vatican Bank and they have been manipulating the price of “gold and silver” for many years now by keeping its actual value very low.

The reason for manipulating the value of gold and silver was to keep the value of the US Dollar and petrodollar high, in that the conglomeration controls the dollar, which has been the Worlds International Currency since WWII.

China and Russia initiated the formation of the BRICS Alliance around 2008 which now includes roughly 185 Nations, with one motive in mind and that was to create a new transparent and incorruptible world financial system to replace the “dollar and petrodollar” and the totally corrupt Federal Reserve Bank and Bank of International Settlement conglomeration.

China recently established a new gold and silver trading platform in direct competition with London.  Their reason for doing this I will explain next.

The BRICS have been capitalizing on London’s price fixing platform by buying up gold at the corrupted low fixed value rate.

China has been buying the lions share and when China accumulates 5,000 metric tons of gold, their new gold and silver trading platform will revalue the Worlds gold and silver at its true market value.

This true market value will probably be (5X) five times higher than the London market and will be the knockout punch that will bury the US Dollar; the US Military Industrial Complex (Wall Street); the Corporate USG; the FED, BIS, CBI, Vatican and World Banks.

I believe that China is about to revalue gold and silver on or about September 30, which will place the BRICS Alliance in control of the Worlds monetary system.

This is a good thing because the BRICS will force an RV and GCR.

I have three reliable independent sources who are predicting a major change come October 1, 2014 (So I guess we shall see).

The five largest US Banks are currently holding derivatives totaling 40 trillion dollars each, meaning that these five banks are holding the bonds or paper assets that created roughly 200 trillion US Dollars.

When China revalues the Worlds gold and silver at five times its current value, the derivatives of these five US Banks will increase exponentially by (5X) five and will finally bankrupt this corrupt conglomerate that has been controlling the World through debt.

We will probably witness a bank holiday that will last about one week to ten days in October and then the announcement of the RV / GCR.

Things will get a little tight for us all during this banking holiday.  There may be some looting and other craziness so be prepared for the worst.

The Bank of New York is currently the only BRICS Alliance Bank in the USA and I am thinking that the BRICS Alliance will take over one or more of the five major US banks; fire the ranking personnel and install new software before announcing the RV / GCR and foreign currency exchanges.

Source

(P.S.  Some think that China controls/owns a big part of Wells Fargo Bank with, by far, the ‘Least’ amount of Derivatives)

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UnFair: The IRS Exposed (Coming October 14th)

Here’s a dose of truth aimed at mainstream audiences. In theatres for one night–October 14th, 2014 -LW

A team of acclaimed filmmakers is spearheading “Unfair”, a ninety minute documentary motion picture intended for all audiences. It will be the first major theatrical documentary to shed light on the certain damage the Income Tax and the IRS have wrought on our liberties, our businesses, our families, and our religious, charitable and civic organizations, while empowering a political agenda contrary to America’s heritage.

This film will be promoted to mainstream audiences based on its factual and dramatic content. In addition, the Picture will be marketed heavily to interested grassroots audiences that identify themselves strongly with any and all of natural rights as documented in the Constitutional Amendments I, IV, and XIV regarding freedom of religion, speech, the press, peaceable assembly, petitioning government, security against searches and seizures, due process or equal protection.

It will tell the stories of betrayal, corruption, intimidation and the harsh personal, economic and political realities of forced compliance upon the American way of life, as well present a unique ending featuring a real solution, not just another scary movie.

The film is executive produced by John Sullivan, producer of the smash hit documentaries “2016: Obama’s America” and “Expelled: No Intelligence Allowed.” Directing is Judd Saul, an award-winning director and activist, whose documentary Frag changed the professional video gaming industry. Producing is nationally syndicated radio talk show host Craig Bergman, a veteran campaigner who brings to the project his experience.

Source (and tickets).

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Kevin Annett: Euro Police join ITCCS take down of Satanic networks in Ndrangheta, Vatican, Monarchies, Cargill Corp.

VANCOUVER, BC – In an ExopoliticsTV interview with Alfred Lambremont Webre, Kevin Annett, field secretary of the International Tribunal into Crimes of Church and State discussed Euro Police raids that freed thirty children from traffickers were based on evidence provided by ITCCS and its recent common law court cases. Police in at least three European nations are now working directly with the ITCCS to track worldwide child trafficking networks that feed children directly into Ninth circle Satanic sacrifices by Popes and Vatican officials, the UK, Dutch and Belgian monarchies and high government officials, and Satanic corporations such as Cargill Corporation, and make further arrests.

Kevin Annett also gave updates Vatican’s arrest and protective detention of Archbishop Jozef Wesolowski, who has been accused of sexually abusing boys he met on the street while serving in the Dominican Republic.

Republic of Kanata and Republic of England

Kevin Annett announced new dates for the the Republic of Kanata convention scheduled for January 1-4, 2015 in Winnipeg, and the Republic of England Convention, scheduled for May 1, 2015.

References

International Tribunal into Crimes of Church and State

www.itccs.org

International Common Law Court of Justice

www.iclcj.com

Contact: itccscentral@gmail.com

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Posted in 2014 | Tagged , , , , , , , , , , , , | 1 Comment

The Secret Goldman Sachs Tapes

SEPT 26, 2014 6:03 AM EDT

(Updates fourth paragraph to include reference to ProPublica article containing Carmen Segarra’s allegations.)

Probably most people would agree that the people paid by the U.S. government to regulate Wall Street have had their difficulties. Most people would probably also agree on two reasons those difficulties seem only to be growing: an ever-more complex financial system that regulators must have explained to them by the financiers who create it, and the ever-more common practice among regulators of leaving their government jobs for much higher paying jobs at the very banks they were once meant to regulate. Wall Street’s regulators are people who are paid by Wall Street to accept Wall Street’s explanations of itself, and who have little ability to defend themselves from those explanations.

Our financial regulatory system is obviously dysfunctional. But because the subject is so tedious, and the details so complicated, the public doesn’t pay it much attention.

That may very well change today, for today — Friday, Sept. 26 — the radio program “This American Life” will air a jaw-dropping storyabout Wall Street regulation, and the public will have no trouble at all understanding it.

The reporter, Jake Bernstein, has obtained 46 hours of tape recordings, made secretly by a Federal Reserve employee, of conversations within the Fed, and between the Fed and Goldman Sachs. The Ray Rice video for the financial sector has arrived.

First, a bit of background — which you might get equally well from today’s broadcast as well as from this article by ProPublica. After the 2008 financial crisis, the New York Fed, now the chief U.S. bank regulator, commissioned a study of itself. This study, which the Fed also intended to keep to itself, set out to understand why the Fed hadn’t spotted the insane and destructive behavior inside the big banks, and stopped it before it got out of control. The “discussion draft” of the Fed’s internal study, led by a Columbia Business School professor and former banker named David Beim, was sent to the Fed on Aug. 18, 2009.

It’s an extraordinary document. There is not space here to do it justice, but the gist is this: The Fed failed to regulate the banks because it did not encourage its employees to ask questions, to speak their minds or to point out problems.

Just the opposite: The Fed encourages its employees to keep their heads down, to obey their managers and to appease the banks. That is, bank regulators failed to do their jobs properly not because they lacked the tools but because they were discouraged from using them.

The report quotes Fed employees saying things like, “until I know what my boss thinks I don’t want to tell you,” and “no one feels individually accountable for financial crisis mistakes because management is through consensus.” Beim was himself surprised that what he thought was going to be an investigation of financial failure was actually a story of cultural failure.

Read more: Michael Lewis on the occupational hazards of working on Wall Street

Any Fed manager who read the Beim report, and who wanted to fix his institution, or merely cover his ass, would instantly have set out to hire strong-willed, independent-minded people who were willing to speak their minds, and set them loose on our financial sector. The Fed does not appear to have done this, at least not intentionally. But in late 2011, as those managers staffed up to take on the greater bank regulatory role given to them by the Dodd-Frank legislation, they hired a bunch of new people and one of them was a strong-willed, independent-minded woman named Carmen Segarra.

I’ve never met Segarra, but she comes across on the broadcast as a likable combination of good-humored and principled. “This American Life” also interviewed people who had worked with her, before she arrived at the Fed, who describe her as smart and occasionally blunt, but never unprofessional. She is obviously bright and inquisitive: speaks four languages, holds degrees from Harvard, Cornell and Columbia. She is also obviously knowledgeable: Before going to work at the Fed, she worked directly, and successfully, for the legal and compliance departments of big banks. She went to work for the Fed after the financial crisis, she says, only because she thought she had the ability to help the Fed to fix the system.

In early 2012, Segarra was assigned to regulate Goldman Sachs, and so was installed inside Goldman. (The people who regulate banks for the Fed are physically stationed inside the banks.)

The job right from the start seems to have been different from what she had imagined: In meetings, Fed employees would defer to the Goldman people; if one of the Goldman people said something revealing or even alarming, the other Fed employees in the meeting would either ignore or downplay it. For instance, in one meeting a Goldman employee expressed the view that “once clients are wealthy enough certain consumer laws don’t apply to them.” After that meeting, Segarra turned to a fellow Fed regulator and said how surprised she was by that statement — to which the regulator replied, “You didn’t hear that.”

This sort of thing occurred often enough — Fed regulators denying what had been said in meetings, Fed managers asking her to alter minutes of meetings after the fact — that Segarra decided she needed to record what actually had been said. So she went to the Spy Store and bought a tiny tape recorder, then began to record her meetings at Goldman Sachs, until she was fired.

(How Segarra got herself fired by the Fed is interesting. In 2012, Goldman was rebuked by a Delaware judge for its behavior during a corporate acquisition. Goldman had advised one energy company, El Paso Corp., as it sold itself to another energy company, Kinder Morgan, in which Goldman actually owned a $4 billion stake, and a Goldman banker had a big personal investment. The incident forced the Fed to ask Goldman to see its conflict of interest policy. It turned out that Goldman had no conflict of interest policy — but when Segarra insisted on saying as much in her report, her bosses tried to get her to change her report. Under pressure, she finally agreed to change the language in her report, but she couldn’t resist telling her boss that she wouldn’t be changing her mind. Shortly after that encounter, she was fired.)

Read More: Michael Lewis on Deeb the Conquerer baring his soul before Mama

I don’t want to spoil the revelations of “This American Life”: It’s far better to hear the actual sounds on the radio, as so much of the meaning of the piece is in the tones of the voices — and, especially, in the breathtaking wussiness of the people at the Fed charged with regulating Goldman Sachs. But once you have listened to it — as when you were faced with the newly unignorable truth of what actually happened to that NFL running back’s fiancee in that elevator — consider the following:

  1. You sort of knew that the regulators were more or less controlled by the banks. Now you know.
  2. The only reason you know is that one woman, Carmen Segarra, has been brave enough to fight the system. She has paid a great price to inform us all of the obvious. She has lost her job, undermined her career, and will no doubt also endure a lifetime of lawsuits and slander.

So what are you going to do about it? At this moment the Fed is probably telling itself that, like the financial crisis, this, too, will blow over. It shouldn’t.

To contact the writer of this article: Michael Lewis at mlewis1@bloomberg.net.

To contact the editor responsible for this article: Marty Schenker at mschenker@bloomberg.net.

Source.

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Yet Another Good Sign: the ENTIRE Board of the Bank of Cyprus Forced to Resign

It was only 18-months ago that one of the brokest banking systems in the world became the first modern example of financial cannibalism.

I’m sure you remember how it all went down in Cyprus last year… but I’ll review it anyhow because it just never gets old.

For days, weeks, months leading up to the big event, banks were operating as usual. People could log on to a bank website, check their account balance, and see a number printed on the screen.

As it turns out, though, there’s a huge difference between a number on a screen and a well-capitalized bank.

Continue Reading at SovereignMan.com…

 

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A Funny Thing Happened on the Way to the Moon

This is an excellent 2001 documentary about the moon landing of July 20th, 1969 that has finally made it to YouTube. Enjoy! -LW

Award winning filmmaker Bart Sibrel presents his highly acclaimed (and much hated) controversial documentary showcasing newly discovered behind-the-scenes out-takes from the first mission to the moon, proving that the crew never left earth orbit.

Never before in all of recorded aviation has a flying machine worked on its first attempt, much less the most complicated one ever imagined, landing on another heavenly body on its maiden voyage, and returning roundtrip with a crew that lived to tell, all with 1960’s technology. (More computing power is found today in a $10 watch.)

According to William Kaysing, a NASA contractor for Apollo, a classified interdepartmental memo rated the odds of a successful and survivable manned lunar landing on its first attempt at one in ten thousand. That is why the returning men of the mission looked so dejected rather than triumphant at their press conference, as they were blackmailed into lying about the alleged greatest accomplishment of mankind, to the detriment of their own souls.

Sibrel has been interviewed, and his documentary about the moon landings have been featured on, The Tonight Show, The Daily Show, Geraldo at Large, The Abrams Report, Coast to Coast, NBC, CNN, FOX, Time Magazine, The New York Times, The L.A. Times, The Washington Post and USA Today.

See: thesleuthjournal.com

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