For once, Turbo told the truth on a weekend talk show. Sort of. We could add that Geithner never paid taxes like a real taxpayer either. Geithner’s ongoing attempt to distance himself from Wall Street’s decade of fraud is laughable. As President of the New York Fed, Geithner was criminally negligent in his role as Wall Street’s chief regulator.
Timmaaayy tells the truth.
“I find that the charge that — the myth that I worked in [...]
Fractional Reserve Banking: The Source of All Evil?
by Paul Tustain
Friday, 11 January 2013
I’m getting very suspicious of anything which regulators think is “safe” collateral…
FRACTIONAL Reserve Banking is not responsible for the bad practice of ‘creating money’, writes Paul Tustain, founder and CEO of BullionVault.
It is a speed limit on money creation, put in place by a Central Bank to stop banks doing too much of what comes naturally to them.
The government’s chief spending watchdogs have already secured nearly 600 convictions and judgments against people and companies accused of misusing stimulus funds and have a whopping 1,900 investigations currently open into possible wrongdoing, officials say.
The wave of scrutiny more than three years after the American Recovery and Reinvestment Act was passed by Congress early in the Obama administration means the question of how money was managed early in the program [...]
WASHINGTON — Republican congressional investigators have concluded that five senior ATF officials — from the special agent-in-charge of the Phoenix field office to the top man in the bureau’s Washington headquarters — are collectively responsible for the failed Fast and Furious gun-tracking operation that was “marred by missteps, poor judgments and inherently reckless strategy.”
The investigators, in a final report likely to be released later this week, also unearthed new evidence that agents [...]
by Phoenix Capital Research
For well over a year now, I’ve been stating that the Fed will not be able to engage in Quantitative Easing (QE) unless systemic risk hits (think another 2008). My reasons for this are as follows.
First off, the political consequences of hitting “print” (inflation) have made themselves evident toeveryone. Indeed, Bernanke was talking about this point as far back as May 2011. The below quote is from a Q&A session [...]
A US federal judge has ordered Iran to pay more than $813m in damages and interest to the families of 241 US soldiers killed in the 1983 bombing of a Marine barracks in Lebanon.
Judge Royce Lambeth wrote in a ruling this week that Tehran had to be “punished to the fullest extent legally possible” for the bombing in Beirut on October 23, 1983, the deadliest ever against US soldiers.
“After this opinion, this [...]
by Phoenix Capital Research
Today, we are witnessing the investment world’s slow awakening to the fact that the monetary actions taken by the world’s Central Banks have not in fact solved the issues leading up to the 2008 Crisis.
In point of fact, the Central Banks’ actions have exacerbated pre-existing problems (excessive leverage) while simultaneously creating newproblems (inflation).
This slow awakening has taken much longer than I would have expected, but with tens of thousands [...]
In most New York child support cases, courts award no more than $23,000 a year to cover a child’s basic needs.
Then there is the 5-year-old son of billionaire businessman Francois-Henri Pinault, whose companies include Yves Saint Laurent and Gucci, among others, and millionaire model Linda Evangelista.
On Thursday, the parents will appear in Manhattan Family Court to begin a trial over child support payments with staggering sums at stake: Ms. Evangelista [...]
Autism cases appear to be on the rise again in the United States, but experts say the country’s highest ever rate could be a result of wider screening and the disorder’s expanding definition.
The rate of U.S. cases of autism and related disorders rose to about one in 88 children. An increase of nearly 25 per cent on the previous estimate was 1 in 110 in 2006.
This new number means autism [...]
Someone is still dead.
Is it even possible for many to take a look at this without coming with their own prior judgments?
There are people set to take advantage of such actions that have occurred rather than looking at what actually happened and then attempting to lessen similar things happening in the future.
NBC did a hatchet job on Zimmerman tonight on Dateline. There is still too much to know before any [...]
The most controversial announcement in Chancellor George Osborne’s budget was the cut in the top rate of income tax from 50 per cent to 45 per cent from next year. Most of the opposition party’s response was directed toward this single measure, although it accounted for a mere £50m of estimated lost revenue in its first year. Mr Osborne must have calculated that the economic gain would outweigh the [...]
by Phoenix Capital Research
I wanted to take a moment to address the notion of serious collapse and/or systemic failure and why it’s so hard for most investors to conceive.
First off, most people in general tend to be optimists or to generally believe that things will work out fine. So the idea of catastrophe is not something they spend much time thinking about.
Because of this, and other factors I’m about to explore, [...]
From Money Crashers:
When it comes to your credit, it’s important to know how you stack up. Do you have good credit? Excellent credit? Poor credit? How can you find out?
In most cases, the easiest way to determine the health of your credit is to look at your credit score, a numerical value that reflects a mathematical analysis of your debt, your payment history, the existence of liens or other judgments, [...]
From The Reformed Broker:
Today, we have a monster of a guest post from my friend the Finance Addict who blogs over at FinanceAddict.com. FA asks why all of a sudden JPMorgan and its legal representatives have seemingly disappeared from credit card collection judgments (as per a small piece in American Banker magazine). I have no special insights or opinions on this just yet but it certainly bears watching in light [...]
The news that a municipal council in Melbourne has banned local cricketers from playing the popular, fast-paced Twenty20 in more than 40 parks raises questions about the increasingly litigious and risk-averse culture in which we live today.
According to reports, the Boroondara Council introduced the ban to minimize the risk of injury and property damage. Apparently one ball had shattered a car window.
It is also a reminder of one of the [...]
Wednesday, December 7, 2011
The Russian Foreign Ministry shot back at US Secretary of State Hillary Clinton for her criticism that Russia’s elections were neither free nor fair. Pointing out that the US electoral system is “far from perfect,” the foreign ministry continued that only the Russian people “can determine the future of our country — regardless of anyone’s partial judgments and politicized recipes.” Clinton, who had previously chastised Russia’s State [...]
I have a longstanding rule for evaluating new tech products: Don’t judge anything by the demo. I’ve seen far too many product previews that hid fundamental flaws in usability. Until you can touch and play with the product on your own, seeing the little details of fit and performance that make it delightful or frustrating, you won’t really know if it’s worth your time.
So it’s [...]
They Now Acknowledge The Certain Fall With Fear(& Hopelessness)
I REALLY NEED NOT SAY ANTHY BUT GIVE YOU A QUOTE THEN LET YOU READ WHAT IS NOW COMING OUT OF THE MOUTH OF THE WHITE MAN HIMSELF.
“The Bible prophesies of the plagues that would come upon America — and these plagues are falling on America now, and yet she will not repent. For America continues to kill [...]
Welfare is welfare. Those who received Unemployment are required to look for jobs while on it. In order to qualify for unemployment you will have to be layed of from previous jobs by no fault of your own. You cannot quit,you cannot get fired having it be your fault. The people losing unemployment which are everyone who finished there 26 or more weeks of it in May will be forced [...]
Ben Bernanke: Ã¢â‚¬Å“My concern about the legislation is that if the GAO is auditing not only the operational aspects of the programs and the details of the programs but making judgments about our policy decisions would effectively be a takeover of policy by the Congress and a repudiation of the Federal Reserve would be highly destructive to the stability of the financial system, the dollar and our national economic [...]