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Archive for the ‘Economy – Finance’ Category

Obama: ‘Raising the Debt Ceiling…Does Not Increase Our Debt,’ Though It Has ‘Over 100 Times’

Posted by truthpills on 2013/09/21

September 18, 2013 – 3:54 PM
By Craig Bannister

Raising the debt ceiling doesn’t increase the nation’s debt, Pres. Obama declared in a speech today.

In a speech at the Business Roundtable headquarters in Washington, D.C., Obama dismissed concerns about raising the debt ceiling by noting that it’d been done so many times in the past:

“Now, this debt ceiling — I just want to remind people in case you haven’t been keeping up — raising the debt ceiling, which has been done over a hundred times, does not increase our debt; it does not somehow promote profligacy. All it does is it says you got to pay the bills that you’ve already racked up, Congress. It’s a basic function of making sure that the full faith and credit of the United States is preserved.”

Truthpills:
Obama is playing a word game to fool his slaves. The act of raising the debt ceiling does not raise increase our debt. But the increase of debt is likely to follow immediately. It definitely promotes profligacy as history has shown over a hundred times. What history has shown is that the new debt ceiling will be reached within a year of two. If raising the debt ceiling does not cause an increase in debt, what’s the point of raising the debt ceiling?

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Ron Paul: “It’s Going to Get Much, Much Worse”

Posted by truthpills on 2013/06/11

Submitted by Tyler Durden on 06/09/2013 21:03 -0400

 

Dr. Ron Paul has long been a leading voice for limited constitutional government, low taxes, free markets, sound money, civil liberty, and non-interventionist foreign policies.

His last term in the U.S. House of Representatives ended earlier this year, so we caught up with the former Congressman to get his latest perspective on how successfully our national leadership is dealing with America’s economic challenges.

In Dr. Paul’s assessment, Washington is too committed to deficit spending and the debt-based economy – both operationally and philosophically – to expect it to embrace a more fiscally-responsible model without a forcing crisis (which he believes is coming):

[T]hey believe it like a religion that spending is good no matter what the spending is on. And that the deficits don’t matter; deficits are not a burden. And even though we have this national debt and we have a foreign debt, they don’t consider that so bad, as long as people will spend money. And if the people won’t spend any money, the government has this moral obligation to do it.

 
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America’s Roads Have Been Turned Into A Revenue Generating Surveillance Grid

Posted by truthpills on 2013/05/21

By Michael, on May 9th, 2013

What do speed traps, parking tickets, toll roads, speed cameras and red light cameras all have in common? They are all major revenue sources for state and local governments. All over America today there are state and local governments that are drowning in debt. Many have chosen to use “traffic enforcement” as a way to raise desperately needed revenue. According to the National Motorist Association, issuing speeding tickets raises somewhere between 4.5 billion and 6 billion dollars in the United States each year. And the average price of a speeding ticket just keeps going up. Today, the national average is about $150, but in many jurisdictions it is far higher. For example, more than 16 million traffic tickets are issued in the state of California each year, and the average fine is approximately $250. If you are wealthy that may not be much of a problem, but if you are a family that is barely scraping by every month that can be a major financial setback. Meanwhile, America’s roads are also being systematically transformed into a surveillance grid. The number of cameras watching our roads is absolutely exploding, and automated license plate readers are capturing hundreds of millions of data points on all of us. As you drive down the highway, a police vehicle coming up behind you can instantly read your license plate and pull up a whole host of information about you. This happened to me a few years ago. I had pulled on to a very crowded highway in Virginia and within less than a minute a cop car had scanned me and was pulling me over because one of my stickers had expired. But these automated license plate readers are being used for far more than just traffic enforcement now. For example, officials in Washington D.C. are now using automated license plate readers to track the movements of every single vehicle that enters the city. They know when you enter Washington, and they know when you leave. So where is all of this headed? Do we really want to live in a “Big Brother” society where the government constantly tracks all of our movements?
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Posted in Corruption, Economy, Economy - Finance, fascism, Finance, Government Programs, New World Order, Police State, politics | Tagged: | Leave a Comment »

Secret FDIC Plan to Loot Bank Accounts

Posted by truthpills on 2013/05/06

By Stephen Lendman

April 09, 2013 “Information Clearing House” – It shouldn’t surprise. It’s already policy. Market analyst Graham Summers explained. Depositor theft is coming. Europe is banker occupied territory. So is America.

Finance is a new form of warfare. It’s more powerful than standing armies. Banking giants run things. Money power has final say.

Economies are strip-mined for profit. Communities are laid waste. Ordinary people are impoverished. Even their bank accounts aren’t safe.

Cypriot officials agreed to tax them. Canada, New Zealand, and Euroland member states plan doing the same thing. So does America.

Officially they’re called “bail-ins.” It’s code language for grand theft. Instead of breaking up, nationalizing, or closing down failed banks, depositor funds will keep them operating.

Money printing madness can’t go on forever. Regulators, like FDIC, haven’t enough money to insure depositors. It’s simple mathematical logic.

Ordinary people and richer ones have trillions in bank accounts. It’s low-hanging fruit. It’s a treasure trove begging to be looted. Legislative shenanigans legitimize it.
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No Bank Deposits Will Be Spared from Confiscation

Posted by truthpills on 2013/04/30

By Matthias Chang
Global Research, April 24, 2013

I challenge anyone to prove me wrong that confiscation of bank deposits is legalized daylight robbery

Bank depositors in the UK and USA may think that their bank deposits would not be confiscated as they are insured and no government would dare embark on such a drastic action to bail out insolvent banks.

Before I explain why confiscation of bank deposits in the UK and US is a certainty and absolutely legal, I need all readers of this article to do the following:

Ask your local police, sheriffs, lawyers, judges the following questions:

1) If I place my money with a lawyer as a stake-holder and he uses the money without my consent, has the lawyer committed a crime?

2) If I store a bushel of wheat or cotton in a warehouse and the owner of the warehouse sold my wheat/cotton without my consent or authority, has the warehouse owner committed a crime?

3) If I place monies with my broker (stock or commodity) and the broker uses my monies for other purposes and or contrary to my instructions, has the broker committed a crime?

I am confident that the answer to the above questions is a Yes!
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Posted in Breaking Free, Corruption, Economy, Economy - Finance, false flag terrorism, fascism, Finance, Government Programs, Police State, politics | Tagged: , , | Leave a Comment »

The Wall Street Ticking Time Bomb That Could Blow Up Your Bank Account

Posted by truthpills on 2013/04/24

Ellen Brown
alternet.org
April 10, 2013

Cyprus-style confiscation of depositor funds has been called the “new normal.” Bail-in policies are appearing in multiple countries directing failing TBTF banks to convert the funds of “unsecured creditors” into capital; and those creditors, it turns out, include ordinary depositors. Even “secured” creditors, including state and local governments, may be at risk. Derivatives have “super-priority” status in bankruptcy, and Dodd Frank precludes further taxpayer bailouts. In a big derivatives bust, there may be no collateral left for the creditors who are next in line.

Shock waves went around the world when the IMF, the EU, and the ECB not only approved but mandated the confiscation of depositor funds to “bail in” two bankrupt banks in Cyprus. A “bail in” is a quantum leap beyond a “bail out.” When governments are no longer willing to use taxpayer money to bail out banks that have gambled away their capital, the banks are now being instructed to “recapitalize” themselves by confiscating the funds of their creditors, turning debt into equity, or stock; and the “creditors” include the depositors who put their money in the bank thinking it was a secure place to store their savings.

The Cyprus bail-in was not a one-off emergency measure but was consistent with similar policies already in the works for the US, UK, EU, Canada, New Zealand, and Australia, as detailed in my earlier articles here and here. “Too big to fail” now trumps all. Rather than banks being put into bankruptcy to salvage the deposits of their customers, the customers will be put into bankruptcy to save the banks.
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Posted in Corruption, Economy, Economy - Finance, fascism, Finance, Government Programs, New World Order, Police State, politics, Using Fears and Threats, World Turmoil | Tagged: | Leave a Comment »

Jim Rogers: “I Suspect They’ll Take The Pension Plans Next”

Posted by truthpills on 2013/04/22

April 5, 2013 | By Tekoa Da Silva

I was able to reconnect for an interview with legendary Quantum Fund manager and commodities bull, Jim Rogers. This was an especially groundbreaking interview, as Jim shared thoughts on what governments around the world will be taking next, and what he’s doing right now to protect his personal bank accounts following the Cyprus collapse.

Speaking towards the frightening implications of the Cyprus banking collapse, Jim said that, “It’s been condoned [now] by the IMF, the European union, and everybody else in sight; that a government in need, can take assets. We all knew they could tax us…but this is the first time that I’m aware of, that they’ve gone in and taken bank accounts. They took gold from people in the U.S. in the 1930′s…but I’ve never heard of them taking bank accounts. [Now] they’re doing it. So be careful [because], now they can take your bank account under this precedent.“

When asked if bank account confiscation will be going worldwide, Jim said, ”Well, it’s now in their bag of tricks, but yes, they can do anything they want too now. I for one am worried and I’m taking preparations. Who knows if I’m right or not, but I’d rather be safe than sorry as all of those people who had money in Cyprus have learned. They thought they had a normal bank account…but now it’s been [taken] with the sanctions of many governments and institutions.”
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People Are Being Led To The Slaughter By Their Own Governments ~ Gregory Mannarino.

Posted by truthpills on 2013/04/15

Thursday, March 14, 2013 7:39

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Flagrant Desperation

Posted by truthpills on 2013/04/15

by The Cerebral Aesthetic Vagabond

April 13, 2013

“They” must be getting desperate to resort to such flagrant manipulation of the markets, the way they did yesterday.
Just Another Day At The G-S Corral

For years gold and silver have been routinely pummeled to protect the U.S. Dollar’s image, but never more so than Friday, April 12, when, according to one expert, 500 tons of gold were sold in the futures market in a single day. To put that in perspective, just a few years ago the major governments of the world were bound by agreement to limit their collective gold sales to 500 tons per year! So selling 500 tons in a single day is a truly staggering quantity, but consistent with the observed price action. Needless to say, a sale of that magnitude can have no legitimate trading purpose; the objective of such a massive sale was clearly to smash the price and frighten away precious metals buyers.

One has to wonder just who are the buyers of these futures contracts. After all, anyone who’s seriously looking to purchase physical metal is not going to purchase it using these contracts. Such contracts might be useful in other commodity markets that are still legitimate, such as that for corn, but the futures market for precious metals has evolved into an instrument that exists solely for the purpose of manipulating precious metals prices. Anyone in the market for hundreds of tons of physical metal is probably shrewd enough to be aware of the corrupt nature the futures market. Moreover, I seriously doubt that the sellers of these futures contracts could deliver the metal when the contracts expire. Finally, why would someone purchase 500 tons of gold in the futures market, knowing that a sale of that magnitude would crash the price? Why would anyone purchase an asset that they could anticipate was going to decline in price?
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More Than 101 Million Working Age Americans Do Not Have A Job

Posted by truthpills on 2013/04/09

By Michael, on April 7th, 2013

The jobs recovery is a complete and total myth. The percentage of the working age population in the United States that had a job in March 2013 was exactly the same as it was all the way back in March 2010. In addition, as you will see below, there are now more than 101 million working age Americans that do not have a job. But even though the employment level in the United States has consistently remained very low over the past three years, the Obama administration keeps telling us that unemployment is actually going down. In fact, they tell us that the unemployment rate has declined from a peak of 10.0% all the way down to 7.6%. And they tell us that in March the unemployment rate fell by 0.1% even though only 88,000 jobs were added to the U.S. economy. But it takes at least 125,000 new jobs a month just to keep up with population growth. So how in the world are they coming up with these numbers? Well, the reality is that the entire decline in the unemployment rate over the past three years can be accounted for by the reduction in size of the labor force. In other words, the Obama administration is getting unemployment to go down by pretending that millions upon millions of unemployed Americans simply do not want jobs anymore. We saw this once again in March. According to the U.S. Bureau of Labor Statistics, more than 600,000 Americans dropped out of the labor market during that month alone. That pushed the labor force participation rate down to 63.3%, which is the lowest it has been in more than 30 years. So please don’t believe the hype. The sad truth is that there has been no jobs recovery whatsoever.

If things were getting better, there would not be more than 101 million working age Americans without a job.
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