Centro Studi
Monetari
|
News The ECB, in case you
did not realize it, is not public, in that it is a private bank owned
by shadowy, nasty, greedy people hiding behind corporate shells,
and it
has no real reserves, but can create money anytime it likes, like
recently, as the ECB created some hundred billion euros for itself!
This
will destroy Europe as it has destroyed every other idiotic country
that tried such a stupid, stupid thing. But there is no reason for
crying, because soon enough we will be happily convening vengeful
kangaroo courts in which to convict Jean-Claude Trichet and the other
hateful, low-IQ lowlife morons who caused all of this ! [courtesy of
the fraud known as fractional-reserve banking. Title 18, United States
Code, Section 371 prohibits conspiracies
to defraud the United States. It is simply against the law to
engage in this criminal activity. This is treason, which is the serious
crime of disloyalty to one’s own nation, and sedition, which is covert
conduct heading toward insurrection regarding one’s country. In
addition, serious insider trading laws were broken. These individuals involved in
these crimes could possibly face a firing squad, because the
crimes are serious enough in nature]
It is therefore timely to discuss these terms. Previous to the reign of the Stuarts, the entire institution of money was in the hands of the State. Said Malynes, writing in 1603: "Money being the Public Measure to maintain a certain equality in buying and selling, must therefore have his (its) standing valuation only by public authority of Princes, as a matter annexed to their crown and dignities; for they be the warrant of the money unto their subjects. And to the end that this Measure of Things, namely Money, should not be falsified, by making the same generally more or less (whereby the price of things would become incertain, if private men be suspected to have the handling thereof), therefore, are Princes so careful to observe a certainty and equality of the price of Money from time to time." The decision rendered by the Privy Council in 1604, given at length in the present work, established the Public and Social character of money even more distinctly and emphatically. It recognised money as a Measure, whose equitable operation could only be secured by the State, which therefore was alone entrusted with the power to "make the same generally more or less" (as Malynes puts it), by increasing or diminishing its volume, or altering the composition of its symbols. - Alexander Del Mar, in: THE SCIENCE OF MONEY, 1896 Attualità:
non-solo-SCEC news - CSM
news - Altre news Appuntamenti 開
かれた通貨宣言
Manifesto “Dinero Abierto” Manifeste des Monnaies Libres Call for the building of a European Network for Public Money Attualità dell'ottobre 2008  Non-solo-SCEC Intervento di Michela, la figlia di GIACINTO AURITI (video) - Convegno 8ber SCEC, 25 ottobre 2008 RECIPROCAL EXCHANGE NETWORKS: Implications for Macroeconomic Stability - James Stodder, Rensselaer at Hartford, January 2005 Abstract: Reciprocal exchange networks or "barter rings" in the US and Switzerland do billions of dollars of trade each year. Their turnover is shown to be highly counter-cyclical. Most studies of the internet's macroeconomic impact have focused on price and inventory flexibility. The macroeconomic impact of Swiss reciprocal exchange networks, founded in the early 20th century, has not been widely studied. The experience of these networks suggests that the credit they provide during recessions is highly stabilizing. This has important implications for monetary theory and policy How Businesses Can Save Themselves from the Impact of the Banking Crisis - Bernard Lietaer, October 29, 2008 Once a domino effect plays out in the real economy, when a chain of bankruptcies gets going with all its effects on unemployment and other social problems, this will prove even harder to stop than the dominos in the banking system, with its devastating wake of an explosion of social problems WIR - Current Operational Realities: A Report by Susan Witt - by Susan Witt, E. F. Schumacher Society, October 2008 Participating businesses are listed in a glossy catalogue. Exchange is done through a checking account, or through a WIR credit card. There is no paper currency  - Convegno "Moneta Complementare" e presentazione del libro "Il grande mutuo" di Galloni - Cartoceto (prov. Pesaro e Urbino), Palazzo del Popolo, h 17.30, giovedì 6 novembre 2008 PAPA BENEDETTO XVI conosce il SIGNORAGGIO ma.. (video) - intervento di Padre Abramovich al convegno SCEC di Riccione, 25 ottobre 2008
Nasce, a Cartoceto, in provincia di Pesaro e Urbino, il "Carticetum" (video) - Studio Aperto, Italia Uno, 25 ottobre 2008 La novità, rispetto allo SCEC, è la partecipazione attiva del Comune nel progetto ROMA, IL SUPERMERCATO DELLA SOLIDARIETA' - Famiglia Cristiana n.42, 19 ottobre 2008 Chi ha figli e non ce la fa riceve una tessera mensile a punti di 300 euro. Una "clientela" in fortissimo aumento WHILE TPTW INTENTIONALLY CRASH THE MONEY SYSTEM - WE CAN LIVE WITHOUT IT. HERE IS HOW.... - RMNews, 23 October 2008 In the face of a collapsing money system NOW IS THE TIME TO FIND OUT! Experienced LETS groups say that over 60% of your regular living needs can be met within such a system, and with some innovation, members can achieve even more  La Bretton Woods degli SCEC (sopra) Catherine Austin Fitts: TRANSFORMING OUR FINANCIAL SYSTEM FROM THE BOTTOM UP - RumorMillNews, 22 October 2008 Tuesday Barter Report - BarterNews, October 21, 2008 Tesi di Laurea di Alessandro Stranieri, VERSO UN SISTEMA INFORMATIVO PER LA GESTIONE DEI BUONI LOCALI - Relatore: Prof. G. Degli Antoni, Correlatore M. Saba, Università di Milano, Corso di Laurea in Comunicazione Digitale (2007-2008), 20 ottobre 2008 Contro la crisi a Napoli ci sono gli Scec - di Fiorella Taddeo, Campania in Pillole, 20 ottobre 2008 Conferenza stampa del MOVIMENTO PENSIONATI CATTOLICI: verranno distribuite monete complementari agli associati -16 ottobre 2008 Community Currency Prominent At 2008 IRTA Conference - Annette Riggs, BarterNews, October 14, 2008 Community Currency Movement representatives were also present to participate in forming the new Community Currency Council. The Council Committee is chaired by IRTA Global Board Member Richard Logie who has assembled a distinguished panel of Community Currency leaders including Annette Riggs, Bernard Lietaer and Thomas Greco, that will seek to work directly with IRTA to further unity and sustainability within the movement The Growth And Use Of Secondary Capital (New Money) Creates Unprecedented Wealth In This New Age Of Possibility! - BarterNews, October 14, 2008 The new mints and engravers won't be the central bankers as we've known, but companies like GE, AT&T, and Visa. And they will include a myriad of smaller entities, both here and abroad, which supply the informational ingredients of money. Information about who earned a credit yesterday, or who can be trusted to pay back a debt tomorrow Contro la crisi finanziaria, nasce lo Scec: la cartamoneta meglio dell'Euro - Matteo Toniato, Redazione Criticamente e Padovanews, 11 Ott 2008 Il 26 Settembre 2008 è nata a Padova l'Associazione ArcipelagoVeneto Moneta Popolare: a Modugno comincia la lotta - Azione e Tradizione, 10 ottobre 2008 L'avevamo preannunciato qualche mese fa. I segnali di una crisi senza precedenti erano chiari ed evidenti IRTA’s 29th Annual Convention Deemed Complete Success - BarterNews, October 7, 2008 More than 95 members of the modern trade and barter industry traveled from all parts the world to attend and participate in the 29th Annual IRTA Convention. The event was held September 22 - 24 Chavez e le monete comunali - Emiliano Guanella, La Stampa, 1/10/2008 CSM NEWS  I
prossimi a saltare: Deutsche Bank e Svizzera - di Marco
Saba, CSM, 31 ottobre 2008Una crisi sistemica richiede una soluzione sistemica. Dopo averle provate proprio tutte, alla fine, faranno la cosa giusta? 3 men with gold confuse sheriff's sale: They say bidders' paper cash is 'illegitimate.' - By Matt Assad, The Morning Call, October 29, 2008 NORTHAMPTON COUNTY CHALLENGE - Background: Three men, during an Oct. 10 sheriff's sale, unsuccessfully bid on nine foreclosed properties using bags of gold and silver. At issue: The men have challenged the winning bids, arguing that the bids were made with ''illegitimate paper money.'' What's next: Officials of the county sheriff's office have to decide whether the matter should be heard by a judge Facing Failure: Service Contracts and the FDIC's Role as Receiver - Ross B. Bricker, Daniel R. Murray, Melissa M. Hinds and Laura E. Pelanek, Special to Law.com, October 31, 2008 This is not the first time that the United States has confronted bank failures. The first massive banking failure occurred in the early 1930s, and the second was the savings and loan crisis of the 1980s and early 1990s. From 1930 to 1933, during the Great Depression, 9,906 banks failed. In response to this massive failure, Congress passed the Banking Act of 1933 and created the FDIC ("FDIC Resolutions Handbook," at 2.) "The Federal Funding Accountability and Transparency Act: Implementation and Proposed Amendments," - CRS Report for Congress, October 22, 2008 "Transatlantic Regulatory Cooperation: Background and Analysis," - CRS Report for Congress, October 22, 2008 White Paper on the Options for Managing Systemic Bank Crises - Bernard Lietaer, Dr. Robert Ulanowicz & Dr. Sally Goerner, October 2008 The conventional solutions being applied – nationalization of the problem assets (as in the original Paulson bailout) or nationalization of the banks (as in Europe) – only deal with the symptoms, not the systemic cause of today’s banking crises. Similarly, the financial re-regulation that will be on everybody’s political agenda, will, at best, reduce the frequency of such crises, but not avoid their re-occurrence. The good news is that a systemic understanding and technical solution are now available that would ensure that such crashes become a phenomenon of the past Quantifying Sustainability: Resilience, Efficiency and the Return of Information Theory - Journal of Ecological Complexity, Forthcoming Winter 2008 It seems not unreasonable to assume that many of the same dynamics are at work in economics as structure ecosystems, and that, over “deep time,” nature has solved many of the developmental problems for ecosystems that still beset human economies. It is perhaps useful that this model suggests that Adam Smith’s “invisible hand” is not alone in sculpting the patterns of economies. Yet another hand would appear necessary to work opposite to Smith’s. (No one claps with one hand.) The Great Wake-up Call - by Thomas H. Greco, October 22, 2008 Buy anything that can support you and your family directly - a home, productive land, gardens, orchards, woodlots, durable clothing, equipment, knowledge, skills, books, computers, etc. The Zeitgeist: Addendum (video) - by Peter Joseph 2008 John Perkins, author of Confessions of an Economic Hit Man. does a superb job of clearly explaining how the empire achieves dominance over other countries, giving examples from his own experience. As he describes in his book, there are three levels of action. The imperial forces first try to corrupt the country’s leaders and get them to play along, saddling their people with huge debt loads and selling off government owned assets (signoraggio, Piano Marshall, privatizzazioni). If that fails, they will stir up internal opposition and either overthrow or assassinate a recalcitrant leader (strategia della tensione, Aldo Moro). If that fails, the military will be sent in as a last resort (basi militari, operazioni di "peace keeping") ... George W. Bush: un eroe rivoluzionario dei nostri tempi - di Marco Saba, 28 ottobre 2008 Pochi avevano afferrato la profondità della visione strategica del Presidente Bush che ci ha portato a realizzare la necessità inderogabile di un cambiamento radicale del paradigma economico-finanziario...  Looking for Solutions: Labour and the Crisis of Neoliberal Capitalism - by Ingo Schmidt, Global Research, October 27, 2008 Certain layers of the working class (and this is more true for unionized than non-unionized workers), are not only workers but also stakeholders. They own houses, have access to consumer credit and have their retirement savings invested in stock markets. While they are small fish compared to big money, it is precisely for this reason that they are suspicious of any economic policy that might endanger their stakes, however small. Consequently, they are open to those who promise to defend these stakes. Ultimately, the question these workers are facing is whether they believe their future will be better secured by doing what is necessary to remain members of the diminishing group of small stakeholders that allies itself with the propertied classes or by making common cause with the property-less workers who have a great deal to gain from unionization and increased social protection What Should the Next President Do to Face the Crisis? - By: Richard Cook, Global Research, Oct 26, 2008 By now it is abundantly clear that global finance capitalism cannot replace the nation-state. It should be just as clear that only a world of functional and prosperous nations can create an effective international federation as contemplated by the U.N. charter. The key to having money available for beneficial social purposes, rather than war and profits from lending, is that it should be issued directly by the government, not lent through the banking system which uses public debt as collateral Modern "Commercial Law" is based on Ancient Babylonian Codes - by Charles Bruce, Stewart A Historical Research Article Linking the "Slave-Trading Codes" of Ancient Babylon to the Modern Laws of "Commerce", "Equity", and Civil/Municipal Jurisdictions Alan Greenspan Falls on His Theory - By Matthew Rothschild, The Progressive, October 24, 2008 There was something almost criminally pathetic about Alan Greenspan’s confession that he had “made a mistake” in believing that banks could adequately police themselves Banking Climate Change Is 'Faster and More Extreme' Than Feared Banking climate change is happening much faster than the world's best scientists predicted and will wreak havoc unless action is taken on a global scale, a new CSM report warns (the report will be available soon) "Financial Turmoil: Comparing the Troubled Asset Relief Program to the Federal Reserve's Response" - CRS report for Congress, October 8, 2008 Henry George, Progress and Poverty, San Francisco, 1879 To those who, seeing the vice and misery that spring from the unequal distribution of wealth and privilege, feel the possibility of a higher social state and would strive for its attainment Deposit Insurance Regulations; Temporary Increase in Standard Coverage Amount; Mortgage Servicing Accounts - Federal Register: October 17, 2008 (Volume 73, Number 202) The FDIC is adopting an interim rule to amend its deposit insurance regulations to reflect Congress's recent action to temporarily increase the standard deposit insurance amount from $100,000 to $250,000 and to simplify the deposit insurance rules for funds maintained in mortgage servicing accounts. The FDIC believes this regulatory change will help improve public confidence in the banking system... "Naked'' Short Selling Antifraud Rule - Federal Register: October 17, 2008 (Volume 73, Number 202) SUMMARY: The Securities and Exchange Commission ("Commission'') is adopting an antifraud rule under the Securities Exchange Act of 1934 ("Exchange Act'') to address fails to deliver securities that have been associated with "naked'' short selling. The rule will further evidence the liability of short sellers, including broker-dealers acting for their own THE COLLAPSE OF A 300 YEAR PONZI SCHEME: THE REAL DEBATE IS CRONY SOCIALISM OR FINANCIAL SOVEREIGNTY - Ellen Brown, October 16th, 2008 All the king’s men cannot put the private banking system together again, for the simple reason that it is a Ponzi scheme that has reached its mathematical limits. As the first world private banking system self-destructs, we need to ensure that a public credit system is in place and ready to serve the people’s needs in its stead Fermatevi e ascoltate il respiro della terra... - di Maryline J.M-W, 16 ottobre 2008 Presentazione del libro INVOLUZIONISMO COSMICO (Involuzionismo a stadi nell'adultità - Pedagogia della diseducazione - Punto e covariazione della freccia del tempo - Redenzione), di Argeo Shlomo Basevi Magi, presso la Biblioteca Tiraboschi a Bergamo Attorney Tom Cryer: “put the government back in its box, one tentacle at a time” - Joe Banister, Former IRS Criminal Investigation Division Special Agent, October 15, 2008 The Freedom Above Fortune Radio Show is broadcasted live on the “Micro Effect Network” ( http://www.themicroeffect.com/ ) from 12:00 pm to 1:00 pm Pacific Time, every Thursday Book online: J.W. Smith, Money: A Mirror Image of the Economy, The Institute for Economic Democracy, 2008 There is a serious flaw in this book because the author take into account the 'nominal monetary rent' instead of the 'effective monetary rent' (nominal seigniorage instead of the real seigniorage). I.e. we have to point out that the central bank put the full face value of the created money in the liabilities side of the balance instead that in the profit side. So, when the central bank return to the Treasury the profits, those profits are calculated by first subtracting the effective monetary rent from the balance. I.e. they take into account only the gain in the interests differential. The hidden gain coming from the seigniorage is routinely recycled by the central banks also through hidden accounts in the primary clearing houses such Clearstream Bank in Europe. Those hidden accounts were first discovered and exposed by the French investigative journalist Denis Robert back in 2001 in the book REVELATION$ Bailout-Rescue Main Street, Alternative Solutions: The Opportunity of a Millennium - By Nick Polimeni, The Institute for Economic Democracy, October 13th, 2008 Distribution of liquidity is accomplish through the flow of money from the government and central banks to the financial community, and the financial markets, and these have the further responsibility to distribute the money to the real economy. Because the financial community is privately owned, they are first ruled by their own profitability, and this often conflicts with the social and economic needs of the community they purport to serve. Therefore, no amount of macro-economic management wisdom is ever going to manage human emotions, greed and fear, or vested interests; therefore, the possibilities of the Paulson bailout working are from slim to marginal (in fact, they are only trying to gain some time...) [verso una corte d'assise speciale] Australia/ DEMOCRACY CLASS ACTION: A Free Man can only be DISPOSSESSED by a JURY (.pdf) - John Wilson, Oct 14, 2008 Banks fear Trial by Jury because the Truth of the fraudulent nature of the loan contracts will be exposed to a tribunal of the People who have Sovereignty, ie: the ultimate authority to make and impose laws, and a Jury will administer JUSTICE which is “the protection of rights and the punishment of wrongs”. The two most glaring facts as to the fraud of the loan contract are (i) variable interest rates render a contract void for uncertainty, and (ii) Banks create money for themselves “out of thin air” which they inject into the economy as loans which they recoup with interest. Many other aspects of Bank contracts and practices would also be revealed - along with the concealing of those crimes by the Australian Judiciary THE POWER ELITE PLAYBOOK: BURN ALL, STEAL ALL, KILL ALL - Deanna Spingola, NewsWithViews.com, October 12, 2008 Wars are choreographed to produce winners, losers and cultural and geographic changes. Warfare enriches the bankers who fund both sides and their cohorts, the munitions manufacturers IMAGINING THE RISE OF THE KILOWATT DOLLAR - Posted By: Patriotlad, RMNews, 12 October 2008 REFLECTIONS ON THE LIFE WORK OF R. BUCKMINSTER FULLER ~ "THE EARTH'S FRIENDLY GENIUS" In the '30s, Buckminster Fuller provided a contrarian analysis of the economics of the Roaring '20s and a hard-eyed look at the stock market meltdown of 1929 ( which actually began in '28 ), and criticized some of the most embarrassing 'truths' of the Great Depression. He noted that men, women and children went begging, sleeping in the streets or in parks, in New York, while tall towers with modern facilities stood unoccupied. He thought that was a kind of signal fire in our economics A Solution? - By Paul Craig Roberts, "ICH', 10/10/08 The Great Depression lasted a decade because the authorities were unable to comprehend that the Federal Reserve had allowed the supply of money to shrink. The shrunken money supply could not employ the same number of workers at the same wages, and it could not purchase the same amount of goods and service at the same prices. Thus, prices and employment fell In libreria: O LA BANCA O LA VITA, Le trame segrete del sistema finanziario mondiale, di Marco Saba - Arianna Editrice, 10 ottobre 2008  ECONOMIA: LA VERA CRISI NON È ANCORA ARRIVATA NEL NOSTRO PAESE - di Guglielmo Nardocci e Giuseppe Altamore, Famiglia Cristiana n.41, 12 ottobre 2008 RISPARMIO DI CARTA: Per l’economista Nino Galloni il peggio deve ancora arrivare. Ma il Governo può fare molto per salvare le famiglie strette tra mutui esosi e investimenti andati in fumo How to Save the U.S. Economy - by Richard C. Cook, Global Research, October 10, 2008 The banking system is essentially a supply-side, trickle-down mechanism with a currency based on a pyramid of bank lending and debt. All the current plans being suggested by economists and others to save the financial system by varying degrees of tinkering are useless. Similarly useless is the pumping in of credit or liquidity by Treasury or the Federal Reserve because it is no more than new bigger debt to roll over old debt (si premia chi agisce in modo predatorio e macrocriminale e poi cosa mai dovremmo aspettarci?) Intervista all'economista francese Jean-Paul Fitoussi - Anna Maria Merlo, Il Manifesto, 3 ottobre 2008 "Se facciamo riferimento alla storia, le crisi finanziarie ricorrenti sono inerenti al sistema capitalista. Ma la crisi attuale ha una sua specificità: direi che è una crisi della comprensione. Abbiamo l'impressione, che peraltro è una realtà, che i protagonisti stessi non capiscano cosa fanno e non capiscano più il sistema" Da dove vengono fuori tutti questi soldi per salvare le banche, quando da anni i governi ripetono che le casse sono vuote quando si tratta di finanziare programmi sociali? "Ci hanno sempre presi in giro quando ci hanno detto che le casse erano vuote. È semplicemente un modo per resistere a domande di spesa. Ma le casse non sono mai vuote, perché le casse dello stato sono le tasche dei cittadini." [US] "Defense: FY2009 Authorization and Appropriations" - CRS report for Congress, updated September 29, 2008 [US] "Homeland Security Department: FY2009 Appropriations" - CRS report for Congress, updated September 25, 2008 THE FED NOW OWNS THE WORLD’S LARGEST INSURANCE COMPANY -- BUT WHO OWNS THE FED? - Ellen Brown, Web Of Debt, October 7th, 2008 If the Fed’s money comes ultimately from the taxpayers, that means we the taxpayers are paying interest to the banks on the banks’ own reserves – reserves maintained for their own private profit. These increasingly controversial encroachments on the public purse warrant a closer look at the central banking scheme itself. Who owns the Federal Reserve, who actually controls it, where does it get its money, and whose interests is it serving? If the Fed were actually a federal agency, the government could issue U.S. legal tender directly, avoiding an unnecessary interest-bearing debt to private middlemen who create the money out of thin air themselves. Among other benefits to the taxpayers. a truly “federal” Federal Reserve could lend the full faith and credit of the United States to state and local governments interest-free, cutting the cost of infrastructure in half, restoring the thriving local economies of earlier decades Evolution of the Apocalypse: Empire’s Demise, Human Renaissance - by Carole Brouillet, Global Research, October 7, 2008 Debt-based monetary systems are the building blocks of empires, and generally empires collapse or topple when they have destroyed their ecological base. Over a hundred years ago, the populist movement in the United States rose up in the wake of the collapse of agricultural prices that threatened farmers and enriched bankers. The farmers pushed for monetary reform arguing that money should be created by the government for the benefit of the people, rather than by banks for the benefit of the bankers Naomi Klein: Wall St. Crisis Should Be for Neoliberalism What Fall of Berlin Wall Was for Communism (video) - Democracy Now!, October 06, 2008 Le dollar et la Banque Centrale... (video) Senate Emergency Economic Stabilization Act 2008 October 1, 2008 (442pp, 714KB) Stability Operations, U.S. Army Field Manual 3-07 - October 6, 2008 NEW ARMY DOCTRINE ON STABILITY OPERATIONS: "...this doctrine looks beyond the here and now to address a likely future where threats to US national security emerge from regional conflicts arising from increased competition for scarce natural resources, teeming urban populations with rising popular expectations, unrestrained technological diffusion, and a global economy struggling to overcome the strain of the American financial crisis, meet mounting demands from emerging markets, and extend foreign development aid into third world countries..." BAILOUT: America’s Financial Ruin - By Patrick Wood, The August Review, October 6, 2008 Being quite dead, Humpty’s body is stinking up the whole neighborhood. The eyewitnesses call it murder. The coroner, bypassing the eyewitnesses, rules it an accident. The public clamors for taxpayer funds to clean up the mess. Congress passes a bill for superglue to be liberally applied to the broken pieces of shell. The courts finally rule that the eyewitnesses are guilty of hate-speech. Contractors who administrate the reconstruction project get rich... A Futile Bailout as Darkness Falls on America - By PAUL CRAIG ROBERTS, October 6, 2008 Paul Craig Roberts was Assistant Secretary of the Treasury in the Reagan administration. He was Associate Editor of the Wall Street Journal editorial page and Contributing Editor of National Review Federal Reserve Notes VS. United States Notes (video) La versione italiana potrebbe essere: Biglietti di Stato a corso legale *contro* Banconote (private) della BCE  Sopra: un raro Biglietto di Stato a corso legale voluto da J.F.Kennedy (non ha la scritta Federal Reserve, non genera debito pubblico) real-world economics review (Formerly the post-autistic economics review) - Issue no. 47, 3 October 2008 An Economic Analysis Of Contemporary Local Currencies In The United States (.pdf) - Gregory A. Krohn and Alan M. Snyder, International Journal of Community Currency Research, Vol 12 (2008) pp. 53-68 Since 1991, over 80 communities in the United States introduced locally printed money. It is argued by proponents that community currency systems revitalize local economies by keeping money circulating locally rather than flowing out, but this study is the first known in-depth economic analysis of these systems Helmut Creutz, (2008) Le syndrome de la monnaie. Vers une économie de marché sans crise (.pdf) - BOOK REVIEW by Jérôme Blanc, LEFI / Université de Lyon, International Journal of Community Currency Research, Vol 12 (2008) pp. 69-73 Intervista a Marco Saba: Pantomima sul palco, fuga dalle quinte (video + testo) - di Daniele Martinelli, 3 Ottobre 2008 E’ un tiro alla fune fra il buffo e il patetico la pantomima dei governanti che dicono di farsi scudo della crisi finanziaria in atto La bancarotta dei Comuni (testo + video) - Beppe Grillo, 2 Ottobre 2008 Catania non è un caso isolato Altre News ottobre 2008 SE LA
BANCA RIFIUTA DI DARVI CONTANTI,
CHiAMATE IL 112 E FATE VERBALIZZARE LO STATO
D'INSOLVENZA !!!
 "Les vrais
mafieux lisent le Financial Time ou le Wall Street Journal"
Voilà ce qu’écrivait Denis Robert dans « une affaire personnelle » sorti en avril dernier... "Certains banquiers sont comme les barons de Cosa nostra. Ils démarrent soldati, montent en grade. Capodecina, consigliere. Pour finir : capo dei capi. Ils agissent, mais ne parlent pas. L’omerta est la règle. La discipline dans les deux cas est militaire. Je ne parle pas des chefs d’agence ou des petits banquiers. Eux ce sont des soldats. Je parle de leurs généraux. Je parle des types à la tête des banques." Sinclair helps you take metal off exchanges; he'll do it too - gata.org, October 31, 2008 If you buy gold ask for the real thing to end price suppression scheme Economic and Housing Tsunami Approaching: Stage Two of the Housing Collapse has arrived to California and This Time it will be much Worse - Dr. Housing Bubble, October 30th, 2008 You may have also been seeing that some big media papers are cutting staff. Why? They can’t cut it like many other businesses in this market. In addition, they have lost large audiences to blogs and other sources since frankly, blogs have gotten it right and they have not. Why would you keep reading an “expert” that missed the biggest economic calamity of our time? I think many people have reached this conclusion and are going to the new experts thus diluting their market share 'Panic' Strikes Hungary, Poland Borrowers as Banks Cut Dollar, Franc Loans - By Ben Holland, Laura Cochrane and Balazs Penz, Bloomberg, Oct. 31 Imre Apostagi says the hospital upgrade he's overseeing has stalled because his employer in Budapest can't get a foreign-currency loan Wall Street Firms Won't Surrender Bonuses Amid Outcry, Veteran Bankers Say - By Christine Harper, Bloomberg, Oct. 30, 2008 Wall Street's chief executives will hunker down and pay bonuses this year in the face of the worst financial crisis since the Great Depression, a taxpayer bailout and mounting political outcry, industry veterans say Global Imbalance: An imminent Dollar Crisis (video) - Lecture by CA M.R. Venkatesh, Chennai Part of INDIA RE-DISCOVERED A Seminar on Global Economy By SWADESHI JAGARAN MANCH and VISION INDIA TRUST, Feb 10, 2008 Crisi mutui: Usa, fallisce la Freedom Bank - Corriere della Sera, 01 nov 2008 Sarà che il nome le ha portato sfortuna? FDIC takes over Florida's Freedom Bank - By John Letzing, MarketWatch, 31 Oct 2008 Bradenton, Fla.-based Freedom Bank was closed Friday, marking the 17th bank failure so far this year amid the ongoing credit crisis. The Federal Deposit Insurance Corporation said in a statement that as of Oct. 17, Freedom Bank had $287 million in total assets and $254 million in total deposits. Freedom Bank's four branches will open Monday as branches of Grand Rapids, Mich.-based Fifth Third Bank, which has assumed Freedom Bank's deposits, the FDIC said «Da Follett a Jane Fonda i liberal americani tutti in ansia per Obama» - Farkas Alessandra, Corriere della Sera, 29 ottobre 2008 La previsione: se perde è guerra civile (i Rockefeller tifano per Obama, i Rothschild tifano per McCain... sai che differenza) Hedge Fund Managers in Tears as Volkswagen Triggers Short-Squeeze - By: Adrian Ash, The Market Oracle, Oct 31, 2008 More than 100 hedge funds are reckoned to have applied their brains to this "no brainer" bet, says the FT – funds including big names like Greenlight Capital, Glenview Capital, Marshall Wace, Tiger Asia, Perry Capital and Highside Capital according to the Wall Street Journal , plus one of the UK's longest-standing hedge funds, Odey Asset Management...as well as the world's most expensive manager, SAC Capital The Halloween economy: trick or treat! - Jerry Mazza, Online Journal, Oct 31, 2008 Comuni a Cinque stelle: Olivadi, San Vito sullo Ionio e Cenadi - Beppe Grillo, 1 Novembre 2008 Il nostro è il Paese del sole, è ora di sfruttarlo, prima che venga privatizzato e quotato in Borsa. Loro non molleranno mai, noi neppure. Le amministrazioni pubbliche che applicano politiche di riduzione delle emissioni, contribuiscono anche a far diminuire la spesa pubblica. I comuni di Olivadi, San Vito sullo Ionio e Cenadi, paesi confinanti in provincia di Catanzaro, hanno promosso il progetto “Sole, ambiente, risparmio" Venezuela - Ecuador. 'Banco del Sur per combattere la crisi finanziaria' - PeaceReporter, 30/10/2008 Venezuela e Ecuador ratificano accordi in materia economica, alimentare e energetica, con in testa il Banco del Sur Le due Italie - Beppe Grillo, 31 Ottobre 2008 Tre gruppi editoriali hanno il controllo dell'informazione sulla carta stampata: RCS (Corriere della Sera), controllato da ABI e Confindustria, Mondadori, il gruppo dello psiconano e l'Espresso di De Benedetti, prossimo rifugiato svizzero e paladino di Topo Gigio. Andamento titoli da inizio anno: RCS - 54,84%, Gruppo l'Espresso - 60,97%, Mondadori - 51,78%. Siamo sulla buona strada. Dove non potè la politica, potrà l'economia (chi si connette - non mangia le mele!) Australia: Three large banks run out of reserves and prevent depositors from accessing their money - Business Day, 2008 Oct 24 Tens of thousands of Australians, many of them retirees, are now unable to get immediate access to their capital after AXA Asia Pacific, Perpetual Investment Management and Australian Unity suspended withdrawals from some funds TV station tours a S. California new-home neighborhood where half the homes are in foreclosure and abandoned. Possessions people leave behind are heart breaking (video+text) - KCET, Sept 23, 2008 The Crack Up Boom, Part XI - by Ty Andros, Editor, Tedbits Newsletter, October 28, 2008 Since the beginning of September, up to over 7 trillion dollars, Pounds, Euros, Swiss Francs, Aussie Dollars, Korean Won, etc. have been printed out of thin air and the bill for them has been sent to you and your children. Perpetual slavery of inextinguishable debt brought to you by your public servants and their partners in the international banking cartels. When crisis appears, you are in the most danger you can imagine and this time is no different, as they use FEAR (False Evidence Appearing Real) to “save” you from their MALFEASANCE and corruption. The idea that people can’t survive unless they can BORROW money is obscene and nothing less than modern day serfdom Australia: Debt Driven Globalism - by Jeremy Lee, Global Research, October 31, 2008 THE ‘BANKSTERS’ MOVE IN: By 1924 disaster struck! A young Dennison Miller unexpectedly died. A federal election saw Lord Bruce, a London banker, become a Liberal Prime Minister. The Commonwealth Bank was put under a Board selected from the private world of finance, and was increasingly crippled from there on. The most URGENT task is to prevent our weak-kneed Parliament from surrendering to the seduction of the New World Order. If this can be done, we can then examine how to return to Australians the benefits, robbed by the banks, to which they are rightfully due. The main purpose of securing national control of banking and credit is to utilize the credit of the nation for the benefit of the people After Iceland, Switzerland next? - LPAC, Oct. 31, 2008 The leftist German website telepolis quotes Richard Portes of the London Business School, today, as warning that Switzerland and Great Britain as countries with a very big financial sector, could soon share the fate of Iceland Fight in Turkey over IMF - LPAC, Oct. 31, 2008 According to a report in Zaman, the IMF is demanding that the government immediately "dramatically" cut the budget and expenditures for the next two months, as well as next year, cut investments and use revenues from the privatization of government companies, not to invest in infrastructure but to pay down debt Accounting changes aid Deutsche Bank profits - By James Wilson in Frankfurt and Jennifer Hughes in London, FT, October 30 2008 Cooking the books European style [A company is guilty of cooking the books when it knowingly includes incorrect information on its financial statements -- manipulating expenses and earnings to improve their earnings per share of stock (EPS)]  Goldman Sachs ready to hand out £7bn salary and bonus package... after its £6bn bail-out - By Simon Duke, Mail Online, 30th October 2008 Goldman Sachs is on course to pay its top City bankers multimillion-pound bonuses - despite asking the U.S. government for an emergency bail-out (e poi dicono che il crimine non rende!) The Bush gang's parting gift: a final, frantic looting of public wealth - Naomi Klein, The Guardian, October 31 2008 The US bail-out amounts to a strings-free, public-funded windfall for big business. Welcome to no-risk capitalism [Bankenstein invokes anti-terror law] Britain has devastated our economy, Iceland complains - By Nigel Morris and Martin Hickman, The Independent, 29 October 2008 Ms Gisladottir's letter confirms the gulf between the countries. Abandoning diplomatic niceties, she said: "We are doing our best to sort out the situation in talks with the UK Treasury. But we have been shocked by the measures taken by the UK Government. It has been very difficult for Icelanders to understand how anti-terrorist legislation can be used by a close ally and friendly neighbour. It makes no sense to see an Icelandic company listed next to al-Qa'ida and the Taliban on the Treasury website." The Foreign Office insisted there were still strong ties between the two Nato allies but said anti-terror laws could be invoked when Britain faced a "threat to its financial security". The Chancellor, Alastair Darling, ordered the seizure of Icelandic assets after he became worried by emergency loans made to the island's banking system by Iceland and Sweden's central banks Jeremy Warner: Lehman's: time to call in the Serious Fraud Office - The Independent, 31 October 2008 How was it that the Financial Services Authority allowed the accumulation of liabilities on this scale with virtually no cash or capital in the Euro-pean bank to support them? At the end of each week, Lehman regularly swept the balance sheet clean and carted off any surplus cash back to New York. Lehman should not have been allowed to operate in London without its own liquidity pool, yet it was. Worse, many clients have found that, unbeknown to them, their assets were being "rehypothicated" by Lehman for its own use for stock lending and other purposes Beginning of Hyperinflation: Hard Cash Investor Walter K. Eichelburg Sees Hard Times (Part 1) - By Florian Godovits, Epoch Times, Oct 26, 2008 The last solvent creditor – the State -- was drawn into the crisis. If the banks go under and need to call on the guarantees, then the state will collapse. That can be seen in Iceland, Hungary, the Ukraine and other countries. Then, they sell-off the government bonds for currency, which is now worthless. If that happens then all has reached the end. The collapse happens because all the (debt) money is worthless. There will be hyperinflation at the supermarket. Then hunger will begin 'The banks are cheating us'; Hong Kong investors protest Lehman Brothers losses - Reuters, October 31, 2008 Angry Hong Kong investors, some banging gongs and others waving banners, scuffled outside a bank on Friday as frustration mounted over losses tied to investments linked to failed U.S. bank Lehman Brothers. Several hundred investors, many of them elderly retirees, marched to eight banks which had sold Lehman structured products, including ABN Amro, Standard Chartered, Bank of China, Citic Ka Wah and DBS bank, demanding compensation for their losses. Investors in Singapore and Indonesia have also hit the streets in protest, expressing outrage that the failed products they bought were actually complex derivatives 10/31/08 - Nightmares of Financial Misery - by The Mogambo Guru "But this monetary expansion thing is the stuff of nightmares, too, and one day soon you will wake up screaming in the middle of the night, bathed in sweat, jolted out of a nightmare of financial misery and suffering that is all but unimaginable…" Going...going...not gone! House auction fails to sell any houses due to credit crunch - By Daily Mail Reporter, 31st October 2008 An auction of 74 houses and plush apartments proved a complete flop as not one lot was sold. Some apartments which had originally been valued at £200,000 were being offered for as little as £30,000 but there were still no takers RAND Lobbies Pentagon: Start War To Save U.S. Economy - Paul Joseph Watson & Yihan Dai, PrisonPlanet. com, October 30, 2008 According to reports out of top Chinese mainstream news outlets, the RAND Corporation recently presented a shocking proposal to the Pentagon in which it lobbied for a war to be started with a major foreign power in an attempt to stimulate the American economy and prevent a recession. Sadly, those RAND twisted minds are still believing that you can somehow increase wealth by actually destroying it! Fortis: 100 enquêteurs pour des perquisitions et des auditions - L'investigateur, 30/10/2008 Une équipe d'une centaine d'enquêteurs a été affectée à la recherche des preuves d'une manipulation du marché par Fortis. Les premières perquisitions et auditions devraient avoir lieu dans les jours à venir. Six enquêteurs sont affectés à temps plein à cette enquête. Mais l'équipe peut être étendue à une centaine de collaborateurs si nécessaire, notamment en cas de perquisition PANE AL POPOLO atto II - venerdì 31 ottobre 2008 Forza Nuova distribuisce il pane ad un euro al chilo per combattere il caro vita  Bank of America Sues Bear Stearns - Zach Lowe, The American Lawyer, October 31, 2008 The case against Ralph Cioffi and Matt Tannin, who were indicted for allegedly lying to investors about the state of two Bear Stearns hedge funds that collapsed in June 2007, has now spilled into civil court. Bank of America has filed suit against Cioffi, Tannin and a third Bear Stearns for hiding the funds' poor health in order to draw the bank into a complicated $4 billion transaction in which mortgage-backed securities controlled by the funds were pooled to support the sale of other securities ''L'EREDITA''' - Report di Sigfrido Ranucci, andrà in onda domenica 2 novembre alle 21.30 su RAI TRE Spegnere le centrali dopo che il referendum dell'87 aveva abrogato il nucleare è costato agli italiani circa 9 miliardi di euro. Soldi usciti dalle tasche delle famiglie con le bollette della luce per risarcire l'Enel del mancato guadagno e per mantenere in sicurezza gli impianti, che dopo 20 anni sono ancora lì con tutto il loro carico radioattivo. Un'eredità che nessun governo fino a oggi ha saputo affrontare WHO'S BEHIND THE ECONOMIC COLLAPSE? - By Cliff Kincaid, NewsWithViews.com, October 31, 2008 “In his book, ‘The Audacity of Hope,’ Obama talks about how much he likes investment bankers, how bright and liberal they are,” says MacArthur. He believes that Obama is a “socialist” only in the sense that he, like Bush and McCain, supports socialism for the rich through the Wall Street bailout. The ranking of top hedge fund earners for 2007 shows John Paulson of Paulson & Co. at $3.7 billion and George Soros of Soros Fund Management at $2.9 billion. Is there anybody in the media willing to question Soros about how he made that money? And whether it came at the expense of the American people? 10/30/08 - Gold, Faith and Credit - by The Mogambo Guru "But now these investors get (probably at best!) their money back; and probably only then after years of legal wrangling where the lawyers end up with most of the money anyway! Hahahaha! Welcome to the full faith and credit of American markets!" Market turmoil may cloud regulators' investigations - Eugene Grygo, Financial News, 24 Oct 2008 Securities industry regulators have been keeping an eye on the volatile closes plaguing markets over the past few weeks, but market turmoil will make discerning between a legitimate strategy and market manipulation very difficult... Book: We Hold These Truths: The Hope of Monetary Reform, Richard C. Cook, Tendril Press, Fall 2008 Il signore sì che se ne intende… - Faber, 30 Ottobre 2008 Cossiga, ex presidente della Repubblica, riconobbe di aver sbagliato nell’addebitare la strage di Bologna alla ‘destra’, sostenendo che «il giudizio espresso allora fu il frutto di errate informazioni che mi furono fornite dai Servizi e dagli organi di polizia. La subcultura e l’intossicazione erano agganciate a forti lobby politico-finanziarie». Fu proprio sotto la sua presidenza poi che, con un atto di vero e proprio alto tradimento, venne firmato il Trattato di Maastricht, "appaltando" il potere della sovranità monetaria ai furbetti della privata Banca Centrale Europea... A questo punto non si capisce proprio come questo recidivo alfiere della lobby politico-finanziaria sia stato nominato addirittura presidente onorario del Centro Studi Intelligence Economica dell'Università di Cosenza, un organismo che dovrebbe formare le nostre migliori forze di indagine per "scoprire" la piovra economica italiana... chissà che cosa gli racconti a loro, Cossiga, eh? KOSOVO: CONFERENZA DONATORI. TUTTI I CONTRIBUTI AD UNO STATO-MAFIA - LA NEWSLETTER DI MISTERI D'ITALIA, novembre 2008 L'Italia contribuisce con 13 milioni di euro (si sa, i soldi non ci sono mai solo per gli onesti!) Crisi, Berlusconi:pronti 5.000 euro per indebitare anche i nuovi nati di famiglie numerose - Reuters, 30 Ottobre 2008 Perché invece non restituiscono la rendita monetaria effettiva rubata dai banchieri? Scuole in sciopero in tutt'Italia - di Paola Diana, Reuters, 30 ottobre 2008 Ci sono i soldi per salvare le banche che hanno distrutto l'Italia, ma per la scuola no The global economic crisis: An historic opportunity for transformation - Casino Crash, October 30th, 2008 An initial response from individuals, social movements and non-governmental organisations in support of a transitional programme for radical economic transformation Beijing, 15 October 2008 American Express to cut 10% of workforce, or 7,000 jobs - By Wallace Witkowski, MarketWatch, Oct. 30, 2008 So, more people will be able to join the freedom fighters... [prove di guerra civile] Maroni e le istruzioni dettagliate (istituzioni deragliate?) - Beppe Grillo, 30 Ottobre 2008 Se non basta la Polizia, allora arrivano gli infiltrati, così i giornali e le televisioni di regime possono gridare agli "scontri tra studenti". Giornalisti, non vi vergognate? The U.S. Dollar Death Dance - By : Jim Willie CB, Hat Trick Letter NEW BRETTON WOODS II FARCE: Last weekend in Brussels, G8 Finance Ministers met. Among other things, they discussed a reform to the global banking structures. For the many challenged on geography, that city is in Belgium, headquarters for many European Union functions, in Western Europe. The nations whose banking systems are in the process of implosion are essentially attempting to revise the global currency system. Those in attendance constitute the losers! However, the Arabs and Chinese were not present. This seems entirely backwards. The bankrupt nations do not dictate to the creditors terms of a revised agreement Fed Expands Swap-O-Rama to Brazil, Mexico, South Korea, Singapore - Mish, October 30, 2008 The idea that currency swaps are a step in the right direction is complete silliness. The Fed's swap-o-rama meet does not unclog anything. It just seems like it. The illusion will vanish as soon as the Fed stops the swap meet. Note the similarity between the Fed's actions and a drug dealer and his client. A shot of heroin will relieve the withdrawal symptoms, but only if the next dose is stronger (da noi circola l'EUROina...) Two Bills That Would Change America: Share the Sacrifices, Share the Benefits - By RALPH NADER, Counterpunch, October 28, 2008 The first legislation would state that anytime the Congress and the White House plunge our country, either constitutionally or unconstitutionally, into a war or significant armed conflict beyond our borders, all age-qualified and able-bodied children and grandchildren of all members of Congress and the President and Vice President will be conscripted immediately into the armed forces. The second bill would stipulate that no member of Congress, and no President, Vice President or Cabinet member would have any health insurance, pension or other benefits until all Americans are provided these long overdue essential benefits of a giant, modern economy (Ralph Nader is running for president as an independent) UK: House prices fall 14.6pc in a year - By Graham Ruddick, The Telegraph, 30 Oct 2008 House prices have fallen for the twelfth month in a row and are now 14.6pc lower than last year, the latest figures from Nationwide show Fed lowers rates by 50bps to 1 percent - FOMC, October 29, 2008 « Le Canard Enchaîné » allume (gentiment) Juncker - L'investigateur, 29/10/2008 Malgré les attaques perfides contre le blanchiment des capitaux, le premier ministre luxembourgeois a confiance dans les banques de son pays L’euforia delle Borse e i tagli dei tassi - Kataweb News, 30 ottobre 2008 L’ennesima promessa di fondi pubblici – stavolta alle famiglie – rivela che gli interventi precedenti hanno avuto una modestissima efficacia. E’ il caso dei 250 miliardi di dollari usati per ricapitalizzare le banche. Si scopre che nessuna delle banche beneficiate sta usando quei fondi per lo scopo a cui erano destinati, cioè il finanziamento dell’economia reale. I prestiti languono, i banchieri si tengono ben stretti i capitali aggiuntivi offerti dallo Stato... Per venire in soccorso dell’auto la Federal Reserve ha cominciato ieri a erogare finanziamenti diretti anche alle filiali finanziarie di Gm e Ford BORSA: BANCARI E FIAT TRAINANO LISTINO - ASCA, 30 ott 2008 [intervengono le banche centrali e...] Bancari e Fiat trainano il listino con Intesa Sanpaolo sospese per eccesso di rialzo. Denaro anche Unicredit che registra un rialzo del 7,75%, Bpm +5,57% e Banco Popolare +4,80% BORSA/ Unicredit e le altre banche "crollano". E se lo Stato intervenisse come in Francia e Gb? - Gianni Credit, Il Sussidiario, 27 ottobre 2008 In Borsa i titoli delle banche italiane continuano a crollare. Tutti i listini precipitano, senza far grande distinzione di area geografica o settore. Chi è esposto con liquidità propria cerca di recuperarla come può; chi investe soldi di altri (come anche i fondi comuni di investimento) è pressato dalle richieste di rientro [Bankenstein blackmail] Spain Fights Exclusion from Financial Crisis Summit - by José Antonio Gurriarán, IPS, 2008/10/28 Although no one in the White House admits or has even implied it, the Zapatero administration as well as the rightwing opposition and the vast majority of Spain's citizens are convinced that this is Bush's way of retaliating against Zapatero's decision to withdraw the country's troops from the U.S.-led occupation of Iraq, as soon as the socialist prime minister took office in 2004 Will $700 Million Finally Settle Decade-Old IPO Suit? - Zach Lowe, The American Lawyer, October 30, 2008 A settlement may finally be coming in a lawsuit filed in 2001 against more than 300 tech companies and 55 underwriters, including many well-known banks, which allegedly rigged IPOs to cheat investors N.Y. Attorney General Asks Banks for Bonus Information - Tom Hays - The Associated Press, October 30, 2008 New York's attorney general turned up the heat Wednesday on nine large banks benefiting from the Wall Street bailout to provide information on the calculations and sizes of their utive bonuses. In letters to the boards of directors of Citigroup, Morgan Stanley and seven other banking giants, Andrew Cuomo said taxpayers have a right to know how their money is being spent. "Taxpayers are, in many ways, now like shareholders of your company, and your firm has a responsibility to them," Cuomo wrote GMAC Added to Commercial Paper Plan, May Become Bank - By Ari Levy and Greg Bensinger, Bloomberg, Oct. 29, 2008 GMAC LLC, the money-losing auto finance and home-loan lender, is seeking to become a bank holding company after gaining access to the Federal Reserve's new program designed to unlock short-term commercial credit markets 10/29/08 - A Bull in a Silver Shop - by the Mogambo Guru "More than one-seventh of all the silver bullion 'thought to exist' in the whole world was suddenly bought up in less than a year, and yet the price of silver has been pounded down to less than 10 bucks an ounce? No wonder I am so bullish on silver!" Plainte pénale contre les ex-dirigeants de Fortis - L'investigateur, 28/10/2008 Le parquet de Bruxelles a lancé une enquête préliminaire pour des malversations qu'auraient commis certains anciens dirigeants de Fortis, révèlent mardi les quotidiens économiques L'Echo et De Tijd 10/28/08 - Mind Numbing Oil Facts - by The Mogambo Guru "No wonder all our Treasury secretaries always said that 'a strong dollar is in the interests of America', and now we see that, similarly, a strong yuan is in the interests of China, as it makes oil, food and all imports cheaper!" Pound in free fall and traders say there’s no way to stop the plunge - Helen Power, The Times, October 28, 2008 White House to banks: Start lending now - By Jennifer Loven, AP White House Correspondent, October 28, 2008 White House tells banks getting federal aid to quit hoarding money and start lending it [while more lending will just enlarge the financial debt blackhole...] Iceland Central Bank Raises Key Interest Rate to 18% - By Tasneem Brogger and Helga Kristin Einarsdottir, Bloomberg, Oct. 28, 2008 Under cover of racist myth, a new land grab in Australia - John Pilger, 24 Oct 2008 In a report for the Guardian, John Pilger describes the deception behind the pretext for a "national emergency" declared by the Australian government in Aboriginal areas. A political cry of "save the children" can also mean the profits of uranium and toxic waste The diplomacy of lying - John Pilger, 23 Oct 2008 The dispossessed people of the Chagos Islands in the Indian Ocean await the decision of the Law Lords, hoping for a repetition of four previous judgments that their brutal expulsion to make way for a US military base was 'outrageous', 'illegal' and 'repugnant'. That they must endure yet another appeal is thanks to the Foreign Office - whose legal adviser in 1968, one Anthony Ivall Aust (pronounced "oarst" and since knighted), wrote a secret document headed 'Maintaining the fiction'. This advised the then Labour government to 'argue the fiction' that the Chagossians were "only a floating population". Today, the depopulated main island, Diego Garcia, over which the Union Jack flies, serves the 'war on terror' as an American interrogation and torture centre Borsa Milano pesante, male banche e Generali, ok Terna e Saipem - Reuters, 28 ottobre 2008 UNICREDIT è precipitata del 13,03% e INTESA SANPAOLO dell'8,36%. Deutsche Bank -11%, Commerzbank -13.35% Left Group President to European Council: ‘worse has yet to come’ - Spectrezine, October 28th, 2008 Declaration by Francis Wurtz, GUE/NGL President in response to the European Council meeting on the crisis European Parliament: Commitment to end street homelessness by 2015 must be delivered - Spectrezine, October 28th, 2008 United European Left (GUE/NGL) and Sinn Fein MEP Mary Lou McDonald is calling on the European Parliament Parliament follow up on its commitment to end street homelessness by 2015 Economic Crisis In Iceland - An Overview - Spectrezine, October 28th, 2008 For the last two weeks Iceland has been facing economic crisis, the worst since 1914. The Icelandic Króna (ISK) has fallen lower than ever and the whole economy seems to be close to a total collapse. How did this start and how does it look now? BarCap appoints bankrupt staff in Israel - 28 Oct 2008 Barclays Capital has hired the former chief executive of Lehman Brothers’ Israeli business along with about 20 staff from its Tel Aviv office, as the UK bank continues pick up staff from the collapsed Wall Street bank and expand its advisory business La raccomandata che uccide - di Beppe Grillo, 28 Ottobre 2008 Non è raro che chi crede di aver pagato TUTTE le tasse riceva una raccomandata dell'Agenzia delle Entrate [il braccio esecutivo della piovra del signoraggio privato?] e terrorizzato la apra. Piano piano, come quando si guardano le carte da poker. Tutta una vita gli passa davanti. Non sarà il rogito della nonna di 25 anni prima o la fattura pagata in ritardo di un mese all'elettricista che lo ha rovinato per sempre? Se cambiate residenza non lasciate tracce. Non fate sapere a nessuno dove vi rifugiate... The Bailout Lie Exposed: Financial "Big Boys" Never Intended To Lend Out Their Windfall - by Prof. Alan Nasser, Global Research, October 28, 2008 Si stanno preparando a scappare col bottino... Wall Street's Trojan Horse for November's G-20 Summit - by Michel Chossudovsky, Global Research, October 27, 2008 There are many World Bank and Wall Street Trojan Horses, scattered around the World in central banks and ministries of finance. The G-20 meetings and negotiations are part of a ritual. The creditor's cartel, Wall Street and the Bretton Woods institutions are always in on the debate and discussions behind closed doors, with their G-20 colleagues and cronies. It's "the old boys network". It is highly unlikely that an "alternative" distinct from the Washington-Wall Street consensus will emerge from the BRIC or G-20 meetings Colonial freezes funds amid growing deposit scheme row - Financial Times, 28 Oct 2008 Colonial First State, Australia’s largest fund manager, on Monday halted withdrawals from its mortgage vehicles as a row over the Australian government’s guarantee of bank deposits intensified Free Enterprise Did NOT Cause the Market Meltdown - By Tom DeWeese, NewsWithViews.com, October 28, 2008 The Great Depression didn't just happen, and it didn't start in 1929. It started with the creation of the Federal Reserve in 1913. Prior to 1913, private bankers regularly pooled their resources to make money available to other banks and lenders who merited support Central Banks Continue Retreat from Alt-AAA Agency Debt - By John M., Housing Doom, October 24th, 2008 The Explicit Guarantee the markets drew from Lockhart’s testimony was immediately switched to an Effective Guarantee backed by an Explicit Commitment from the Treasury worth up to $200 billion. One flick of the wrist in today’s shell game replaced the Full Faith and Credit of the US with some mad Alternative to AAA limited Treasury support, hence my new characterization of agency debt as being equivalent to Alt-AAA One nation under debt - Danny Schechter: We need to stop all foreclosures - October 27, 2008 In part two of our interview with Danny Schechter, Danny provides up-to-date information about the housing crisis in the US. With 21 million families now finding their homes worth less than their remaining mortgage payments Alpha Bank & Trust, Alpharetta, GA - By Tony, in FDIC FAILED BANKS, Posted on October 24th, 2008 The number of banks closed by the FDIC in 2008 climbes to 16 as Alpha Bank & Trust of Alpharetta, Georgia, with Stearns Bank, National Association, St. Cloud, Minnesota to assume the insured deposits of Alpha Bank & Trust Sen. Stevens Found Guilty in Corruption Trial - Mike Scarcella and Joe Palazzolo, Legal Times, October 28, 2008 A federal jury found Alaska Sen. Ted Stevens guilty on all seven counts in his corruption trial on Monday. Stevens, 84, was convicted of intentionally failing to report more than $250,000 in gifts and home renovations between 2000 and 2006. Each count carries a maximum of five years in prison. The conviction is a win for the DOJ's Public Integrity Section, which had made some serious gaffes during the trial. But many criminal defense lawyers predict that Stevens will get no more than six months in prison (immàginati in Italia !!!) Analysts: Treasury Department's Bank Plan Favors Survival of the Biggest - Sara Lepro, The Associated Press, October 28, 2008 A number of financial institutions have announced they will receive funds under the Treasury Department's rescue program to strengthen their capital position. But some analysts contend that what started as a federal effort to spur lending has transfigured to a more grandiose endeavor that will essentially weed out the weak banks from the strong. Critics argue that the government has taken on too much power in determining which banks will survive the credit crisis Ancora salva furbetti - di Antonio Di Pietro, 28 Ottobre 2008 Torno a riflettere con voi ancora una volta sul nuovo potere economico e finanziario italiano e sul conflitto d'interesse che affligge sempre di più Berlusconi, la sua famiglia e il suo governo. Questa volta l'occasione ce la da il nuovo assetto di Mediobanca Le classement des banques les plus sûres - L'Investigateur, 27/10/2008 L’effondrement du système bancaire américain provoque un électrochoc dans le classement mondial des banques les plus sûres, établi régulièrement par le Forum économique mondial IMF may need to 'print money' as crisis spreads - By Ambrose Evans-Pritchard, The Telegraph, October 27, 2008 Turkey's prime minister Recep Tayyip Erdogan said over the weekend that his country would not "darken its future by bowing to the wishes of the IMF", but it is unclear how long Ankara can maintain its defiant stand as capital flight drains reserves The Bet That Blew Up Wall Street - 60 Minutes, CBS News, Oct. 26, 2008 Steve Kroft On Credit Default Swaps And Their Central Role In The Unfolding Economic Crisis Rothschild hires three bankrupt bankers - 27 Oct 2008 Rothschild has hired three former Lehman Brothers bankers to expand its financial institutions group a month after it advised Lehman on the sale of its Asian business to Nomura after the US investment bank went bankrupt 10/27/08 - Reserved Seats for Big Credit Spenders - by The Mogambo Guru He figures that these defaults will constitute a "breath-taking discontinuity event", to which I say, "Whee!" as the result will be a Big, Big, BIG Profit (BBBP) for those who own gold and silver, and this will all happen thanks to the arbitrageurs, who are pouncing all over this huge price disparity by buying in the cheap futures market and simultaneously selling in the expensive bullion market to pocket the difference, and who will make a lot of money, too... It was a 'mistake' to discuss donation with Russian billionaire, admits Osborne - By Kirsty Walker, Mail Online, 27th October 2008 Transport Secretary Geoff Hoon said: 'Now that George Osborne has admitted that he made a mistake in Corfu, when will he admit the rest of the mistakes he has made - like pledging to hike up fuel tax at the worst time for families and business? Brown denies Mandelson 'did a final favour for Russian oligarch Deripaska' - By James Chapman, Mail Online, 27th October 2008 Lord Mandelson is under growing pressure to detail in full his meetings with the aluminium tycoon. It emerged yesterday that his last act as EU trade commissioner was to advocate rule changes which could benefit Mr Deripaska Multi-millionaire Nat Rothschild 'behind Osborne's £200,000 gift' - By Simon Walters, Mail Online, 26th October 2008 The claim, made by an individual with direct access to Mr Rothschild, could hold the key to the extraordinary row involving Mr Rothschild, Mr Osborne, Lord Mandelson and Russian oligarch Oleg Deripaska [being a seigniorage master is very expensive because you have to bribe so many politicians...] [seigniorage masters] Nat Rothschild is 'a very naughty boy', says former mother-in-law - By Mail On Sunday Reporter, 25th October 2008 The short-lived marriage, which it is understood Annabelle ended, was turbulent from the outset, with reports that the pair moved with a fast crowd of heavy drinkers and drug users in New York and London Anti-market protesters hit Frankfurt bourse - RTÉ News, Oct 27, 2008 Protesters from the anti-establishment Attac movement entered the Frankfurt Stock Exchange today, shouting slogans and waving banners denouncing financial markets  Hedge funds slam gate on investors - David Walker and Phil Craig, Financial News, 27 Oct 2008 At least 10 hedge fund managers have put new restrictions on how much and when their investors can withdraw their capital, as the industry struggles to stem a wave of redemptions and poor performance Crisis Chronicle: U.S. pulls the plug on the world - Russia Today, October 27, 2008 I have argued before that governments should focus on supporting the real economy, on saving jobs and less on bailing out the banks. It is certainly not the job of governments to support asset prices at a particular level – and certainly not to spend $US 700 billion buying them off their banking chums Farm-Credit Squeeze May Cut Crops, Spur Food Crisis - By Carlos Caminada, Shruti Singh and Jeff Wilson, Bloomberg, Oct. 27, 2008 This is a time where one bad crop year, with the amount of money and input tied up, could potentially cost you your equipment, land and livelihood Banks exploit legal loophole to seize homes - Robert Watts, The Sunday Times, October 26, 2008 Banks and credit card companies are exploiting obscure legal powers to seize the homes of thousands of people who cannot pay their credit card bills. In some cases, people owing as little as £1,000 have been served with charging orders – the legal instrument enabling a creditor to order the sale of a property. Northern Rock and Nationwide declined to discuss how many homes they had forced to be sold... Tell truth about oligarch links, Mandelson told - By Michael Savage, The Independent, 27 October 2008 A Brussels pressure group has also accused Lord Mandelson of being too close to the Europe-wide lobby group BusinessEurope. The Corporate Europe Observatory has written to the Commission's president, Jose Manuel Barroso, claiming Lord Mandelson gave the group "privileged access" during his term as EU trade commissioner. Rothschilds' link discussed FBI Probe of JPMorgan Fees Focuses on Swaps Roiling Muni Debt - By William Selway and Martin Z. Braun, Bloomberg, Oct. 27, 2008 The muni derivatives unit has become snarled in the largest-ever criminal investigation of public finance by the Department of Justice. Prosecutors have informed at least five former JPMorgan derivative bankers that they're targets in an investigation of whether banks conspired to overcharge local governments Follow the M3 money to hell - By Jerry Mazza, Online Journal, Oct 27, 2008 We can't let these vandals take the beachhead of the economy and gobble up the country we live in and love. There will come a time and you will be asked to act. So be ready, patriot. It's coming, and not at a local theater near you, but in the streets and on the barricades... Central banks poised to act against market panic - By Jan Dahinten and Andrew Roche, Reuters, October 26, 2008 Central banks are likely to launch new coordinated emergency action this week to calm panic in financial markets, which could be rocked further by data pointing to global recession... Market Rebound Could Take Five Years, Says Wachtell's Lipton - Brian Baxter, The American Lawyer, October 27, 2008 Martin Lipton, the legendary Wachtell M&A lawyer and firm founding partner, said last week that a full economic recovery could take three to five years. Lipton, retired Goldman Sachs Chairman Stephen Friedman and Joseph Rice III, chairman of Clayton Dubilier & Rice, were on a panel at NYU School of Law, where they discussed the global economic crisis and offered predictions on what the future might hold for lawyers and businesses SEC Brings Second-Highest Number of Enforcement Actions in Its History - Sheri Qualters, The National Law Journal, October 27, 2008 The U.S. Securities and Exchange Commission initiated 671 enforcement actions in fiscal year 2008, the second-highest total in the agency's history. The SEC also repeated last year's total of distributing more than $1 billion to investors harmed by others' actions during fiscal year 2008. The agency's higher enforcement caseload included a more than 25 percent increase in insider trading cases and more than 45 percent in market manipulation cases compared with fiscal year 2007 Wealth Gap Creating a Social Time Bomb - John Vidal, The Guardian, October 23 2008 Growing inequality in US cities could lead to widespread social unrest and increased mortality, says a new United Nations report on the urban environment. In a survey of 120 major cities, New York was found to be the ninth most unequal in the world and Atlanta, New Orleans, Washington, and Miami had similar inequality levels to those of Nairobi, Kenya Abidjan and Ivory Coast. Many were above an internationally recognised acceptable 'alert' line used to warn governments ... TFR addio - Beppe Grillo, 25 Ottobre 2008 Chi ha tenuto il suo TFR in azienda ha avuto un rendimento del 3,5%. Chi, seguendo il consiglio dei sindacati, dei partiti e dei promotori finanziari, lo ha investito nei fondi pensione ha perso circa il 20% Insurers next for state bailout - Iain Dey, The Sunday Times, October 26, 2008 Two of America’s biggest insurance companies are in talks with the US Treasury about a possible state-cash injection Wall Street halts futures trading amid panic - Suzy Jagger in New York, The Times, October 25, 2008 Sharp losses in New York, London, Europe and the Far East raised the spectre that governments may be forced to impose emergency holidays to avert a meltdown across world stock markets Down For The Count: 'The whole system is contracting' - By Mike Whitney, 10-25-8 "The great inter-war slumps were not acts of God or of blind forces. They were the sure and certain result of the concentration of too much economic power in the hands of too few men (who) felt no responsibility to the nation." From the 1945 UK Labour manifesto Let Us Face The Future THE CORRUPT OCTOPUS HAS BEEN SEVERELY WOUNDED - Christopher Story, 26 October 2008 In the following report, it will be conclusively proven that the world has been held to ransom by an international gang of geocriminal financial operatives and their corrupted, co-conspiring banking sector associates bent on ransacking, pillaging and stealing every financial balance they can lay their hands on, with what they assumed was impunity. People facing repossession should, as we pointed out in our report dated 26th December 2007, demand that the TOP COPY of the mortgage document be presented to the Court. Since the bank has sold the mortgage on, it may not be able to comply with this demand, in which case the repossession should be adjudged to be null and void  A Conspiracy of Imbeciles - Clayton Makepeace, September 26, 2008 Washington is playing you for a sucker — shamelessly robbing you blind — and they’re not just getting away with it; they’re actually being rewarded for it Here’s what you must do now to hit them where it hurts and quite possibly, to save your financial future [verso l'insolvenza globale] FINANZA: ADUSBEF, E' BOOM DI PIGNORAMENTI IMMOBILIARI +22,3% - Adnkronos, 25 ott. 2008 3,2 milioni di mutui diventeranno subprime a causa del tasso usuraio UK, Alistair Darling: slump will be long and deep - David Smith, The Sunday Times, October 26, 2008 While Gordon Brown insisted yesterday that Britain was “better-prepared” than other economies, Treasury officials no longer believe the UK economy will escape lightly Iceland: As bank crisis and inflation grow, shoppers panic and swarm grocery stores to buy up food while they can - Bloomberg, 2008 Oct 18 After a four-year spending spree, Icelanders are flooding the supermarkets one last time, stocking up on food as the collapse of the banking system threatens to cut the island off from imports Benjamin Fulford on Rense (audio) - October 22 2008 Le condizioni di Versailles imposte all’Islanda - MoviSol, 25 ottobre 2008 Un altro errore voluto, di quelli che portarono alla seconda guerra mondiale The Prophecy of Global Collapse between Greenspan and LaRouche - LPAC, October 24, 2008 THOUSANDS OF HEDGE FUNDS TO FAIL SOON - By Rowena Mason, Pyrabang, 24 Oct 2008 Emmanuel Roman, the co-chief executive of Europe’s biggest hedge fund GLG, has warned that thousands of hedge funds are on the brink of failure as the global economy contracts with unexpected severity World Bank Under Cyber Siege in 'Unprecedented Crisis' - By Richard Behar, Fox News, October 10, 2008 It is still not known how much information was stolen. But sources inside the bank confirm that servers in the institution's highly-restricted treasury unit were deeply penetrated with spy software last April. Invaders also had full access to the rest of the bank's network for nearly a month in June and July They Did It On Purpose - by Richard C. Cook, Dandelion Salad, Oct. 23, 2008 The U.S. military shifted combat troops from Iraq to the U.S. to contain possible civil unrest. Most major retail chains began to close stores and lay off employees even as the Christmas season approached Black Friday? Blame the Illuminati (video) - cnbc, Oct. 24 2008 [global revolution build-up] WHO DOESN'T HAVE A PLAN? - By Dr. Edwin Vieira, NewsWithViews. com, October 22, 2008 If Americans are "to restore the rule of law," they must reject the Leader Principle in all of its manifestations, and depend upon themselves alone. The Constitution does not even suggest that some "leader" is "necessary to the security of a free State." [global revolution build-up] European economies face bankruptcy - by Niall Green, Global Research,, 2008-10-25 The economies of central and eastern Europe are being rocked by the crisis of world capitalism, compounded by the corrupt and pro-big business policies of their local elites [global revolution build-up] Militarization of the American Homeland: Suppression of "Civil Disturbances" - by Tom Burghardt, Global Research,, 2008-10-25 ACLU Demands Information on U.S. Military Domestic Operations [global revolution build-up] Job cuts mount as global recession takes hold - by Patrick O'Connor, Global Research, October 24, 2008 An Interview With Richard C. Cook: The Challenger Disaster, Financial Collapse And Viable Solutions - By Gary Corseri, Dandelion Salad, October 23, 2008 People can’t pay their mortgages or their utility bills, or buy food. If that happens on a global basis … and the credit economy isn’t filling the gap anymore because they realize that the loans they’re putting out aren’t going to be repaid—that’s the big problem. It’s not that the credit isn’t available because banks and governments can create as much credit as they want. Just off of ledgers. They can conjure up as much money to lend as they want to. The problem is paying the loans back. If people don’t have the money to pay the loans back, where’s it going to come from? (social credit - what else?) Treasury considers aid to insurers too - By Karey Wutkowski and Patrick Rucker, Reuters, October 24, 2008 Soldi per tutti, ma per la gente no. Gene Arensberg: Bring the bullion banks down -- take metal off Comex - gata.org, October 24, 2008 Conto alla rovescia per gli ETF naked short.... U.S. has plundered world with dollar, Chinese state paper rages - By Simon Rabinovitch, Reuters, October 24, 2008 The United States has plundered global wealth by exploiting the dollar's dominance, and the world urgently needs other currencies to take its place, a leading Chinese state newspaper said on Friday L'Iri sovrano - Paolo Emiliani, Rinascita, 24 Ottobre 2008 L’Iri, acronimo di Istituto per la Ricostruzione Industriale, fu un ente pubblico italiano, istituito in epoca fascista, nel 1933, quindi nel pieno del decennio della grande crisi finanziaria mondiale, per evitare il fallimento delle principali banche italiane e con esse il crollo dell’economia Crac Lehman Brothers: l'uovo di Colombo di Mediolanum - Sabrina Lauricella, Rinascita, 23 Ottobre 2008 Ennio Doris, amministratore delegato di Mediolanum S.p.A., ha spiegato ieri la decisione assunta due sere fa in sede straordinaria dal Consiglio di amministrazione del Gruppo di far ricadere esclusivamente sui due soci di riferimento, il Gruppo Doris e Fininvest S.p.A. (rispettivamente al 41% circa e al 36% circa del capitale sociale) le potenziali perdite legate al crac della Lehman 10/24/08 - Unapologetic Economic Stupidity - by The Mogambo Guru "And if you are not horrified at the prospect of continually inflating the money supply, then I know that you either work for the Federal Reserve, teach economics at Princeton or are just plain brain-damaged…" For Whom the Bailout Tolls - By Michael Winship, consortiumnews.com, October 24, 2008 New York State Attorney General Andrew Cuomo is demanding that AIG get back from its execs millions of dollars the insurer paid out as the company neared collapse, and on Wednesday, the insurance giant agreed to freeze $600 million worth of deferred compensation and bonuses for its top brass Alan Greenspan's Criminally Pathetic Confession (audio) - The Progressive, October 24, 2008  [good economic news] Retail Sector Soars on News that Palin Seeks New Outfit - Borowitz Report, October 24, 2008 Major retailers had been plummeting all day but staged a stunning comeback when Gov. Palin told a reporter in Ohio, "Election Night is just eleven days away and I have nothing to wear." Elsewhere, former Fed Chief Alan Greenspan gave this testimony to Congress today: "To those millions of Americans who have lost their jobs, their homes, and their life savings, let me offer a heartfelt ‘oopsy.'" Banca Furbetti - di Francesco Bonazzi, L'espresso, 23 ottobre 2008 Da Intesa al Monte Paschi. Da Unicredito all'Antonveneta... Hanno eluso oltre 3 miliardi di euro al fisco. E ora chiedono aiuto allo Stato (quando si faranno i conti tenendo presente la rendita monetaria effettiva... vedrai che fuggi fuggi!) Prc in piazza contro il caro-vita - Ma.Bo., aprile online, 24 ottobre 2008 Sabato Rifondazione organizza banchetti e gazebo in tutta Italia per protestare contro il costo crescente della vita e l'incapacità dei salari di rispondere a questa impennata dei prezzi. Ma anche per evitare che la crisi in atto sia scaricata sulle spalle dei lavoratori e dei pensionati. Ne abbiamo parlato con Claudio Grassi, responsabile organizzazione del partito Germany voices: 'Greed eats brains!' - BBC News, 24 October 2008 Away from the daily dramas of the DAX stock exchange and unstable money markets, the BBC's Steve Rosenberg has been to the town of Oldenburg to find out how ordinary Germans have been affected by the global financial crisis 10/23/08 - The Velocity of Worthless Money - by The Mogambo Guru "Although this ignores the ugly effect of taxes, which inexorably grinds the original dollar down to zero as it goes from hand to hand, it is also a good example of the velocity of money (the number of times per year that a dollar changes hands)… Bernie Sanders Marks Greenspan’s Tardy Confession - By Matthew Rothschild, The Progressive, October 23, 2008 On October 23, the former Fed chairman confessed that he was “partially wrong” about the merits of deregulation and that he had “made a mistake” in believing that banks would minimize risk to their stockholders and be able to police themselves University of Nebraska-Lincoln Disinvites William Ayers after Death Threats, Financial Pressure - By Matthew Rothschild, The Progressive, October 23, 2008 “Some donors threatened to withhold financial support to the university unless Ayers was disinvited,” the Lincoln Journal Star reported, including a foundation that has provided millions [toward global default] Dollar, Euro, Sterling May Be Destroyed Zimbabwe-Style - Paul J. Watson, Prison Planet, October 13, 2008 Hennecke says hyperinflation will cause gold price explosion. Asked if he believed whether the Euro and the U.S. dollar could go the way of the Zimbabwean dollar, which has suffered annual inflation of over 200 million per cent over the last few years, Hennecke responded, “Actually it’s interesting to know that the world’s leading standard rating agency Standard and Poor has predicted that all the major western governments are heading towards default on their sovereign bonds" GAP BETWEEN RICH, POOR GROWING, OECD FINDS - Agence France Presse, October 21, 2008 Between the two wars, the Château de Ia Muette was the scene of magnificent receptions where the famous Rothschild collections were displayed on a series of great rooms of which the oak-panelled OECD Council room and the white and gold Executive Committee room are fine examples. In 1948 The Rothschild heirs sold the property on the north and south sides of the Rue André Pascal to the Organisation for European Economic Co-operation, the organisation that now discover that "Inequality is growing within and between nations because economic growth in recent decades has rewarded the rich far more than the poor..." Nah, really?  Quinn and Milbank File Applications in Lehman Bankruptcy - Andrew Longstreth, The American Lawyer, October 23, 2008 Given the state of the economy, the firms that win plum assignments in the Lehman bankruptcy are in an enviable position, with a nice, steady source of revenue. A Bloomberg story speculates that professional fees in the bankruptcy could reach $1.4 billion, topping the $757 million paid in the Enron Chapter 11. But to win a share of those fees, law firms have to pay a price, albeit a small one, in the form of public exposure of things they'd rather keep quiet, like client lists and billing rates... Greenspan Urges Tighter Regulation After 'Breakdown' - By Scott Lanman and Steve Matthews, Bloomberg, Oct. 23, 2008 "To avoid severe retrenchment, banks and other financial intermediaries will need the support that only the substitution of sovereign credit for private credit can bestow,'' Greenspan said Roubini Says `Panic' May Force Market Shutdown - Bloomberg, October 23, 2008 Hundreds of hedge funds will fail and policy makers may need to shut financial markets for a week or more as the crisis forces investors to dump assets, New York University Professor Nouriel Roubini said UK recession fears spark massive sell-off of sterling - By Sean O'Grady and Stephen Foley, The Independent, 23 October 2008 Foreclosure Filings Rose 71% in Third Quarter as Prices Fell - By Dan Levy, Bloomberg, Oct. 23, 2008 A total of 765,558 U.S. properties got a default notice, were warned of a pending auction or were foreclosed on in the quarter, the most since records began in January 2005 Greenspan: 'Credit tsunami' to have severe impact - By MARTIN CRUTSINGER, AP Economics Write, Oct 23, 2008 He said that he and others who believed lending institutions would do a good job of protecting their shareholders are in a "state of shocked disbelief." Investors Flee as Hedge Fund Woes Deepen - By LOUISE STORY, NYTimes, October 22, 2008 This unregulated, at times volatile corner of finance — which is supposed to make money in bull and bear markets — lost $180 billion during the last three months. Investors, particularly wealthy individuals, are heading for the exits ARGENTINA: Govt Announces End of Private Pension Funds - By Marcela Valente, IPS, Oct 21, 2008 The head of ANSES, Amado Boudou, said the initiative would "put an end to the failed experiment" of the private pension funds, and added that to maintain the "illusion" of private pension funds, the state pays 4.0 billion pesos (1.3 billion dollars) a year to top up the monthly pension payments of retirees with private accounts Wachovia Posts Largest-Ever Loss for a Bank - WashPost, Oct 23, 2008 Paolo Bonolis ha già vinto il suo Sanremo - di Daniele Martinelli, 23 ottobre 2008 Canone RAI: il primo bollettino Rai che preleviamo dalla casella postale assieme ai depliant del supermercato accartocciamolo e buttiamolo nell’immondizia. Butteremo nell’immondizia anche i successivi bollettini che arriveranno a cadenza quasi quotidiana su cartoncini verdi come la lega nord. Il colore è scelto apposta perché ricorda quello degli atti giudiziari e serve a impaurire il cittadino spesso ignorante ed inerme. Quando tutti gli italiani avranno ben chiaro che nessuno potrà venire in casa nostra a vedere cosa abbiamo sopra i mobili, se non con un mandato della magistratura, saremo un’Italia più evoluta ED GRIFFIN ON NAOMI WOLF - AND HOW BANKS CAN GO BROKE! - Posted By: Rayelan, RMNews, 22 October 2008 When the Fed pumps money into the banks to give them “liquidity,” as they like to call it, what it really is doing is taking it from taxpayers in the form of inflation, allowing the fraud to continue a little longer, and protecting bank shareholders from severe loss. It is a rescue plan, all right, but it is a rescue of the politically connected financiers and investors, not the common man (esattamente quello che vorrebbe fare Berlusconi in Italia!) Foreclosure crisis falls hard on veterans - By MALCOLM GARCIA, The Kansas City Star, Oct 23, 2008 Disney Wants Lehman Officials Investigated - The Associated Press, October 23, 2008 In a federal filing this week, Disney joined a growing number of Lehman Bros. creditors calling for an investigation into what transpired in the investment house's final days. Disney claims it was owed $92 million from a currency exchange when Lehman filed for bankruptcy Sept. 15 N.Y. Mortgage Lawyer Found Shot in Parking Lot - The Associated Press, October 23, 2008 Police are puzzling over the death of a Long Island, N.Y., mortgage lawyer found shot in the head near a busy road in the middle of the afternoon. Police say a passing driver found the wounded man in the parking lot of a closed restaurant. James DiMartino, 44, died at a hospital some hours later New Energy Economy Emerging in the United States - Lester R. Brown, Earth Policy Institute, October 15, 2008 This energy transition is being driven by an intense excitement from the realization that people are now tapping energy sources that can last as long as the earth itself. Oil wells go dry and coal seams run out, but for the first time since the industrial revolution we are investing in energy sources that can last forever. This new energy economy can be our legacy to the next generation Ex-Italy bank boss due in court - By Duncan Kennedy, BBC News, 23 October 2008 The former governor of Italy's central bank is to go on trial over his role in a banking takeover. Fifteen others will stand trial alongside Antonio Fazio. He could face six years in jail if found guilty  Where Inflation Came From - By Paul Craig Roberts, rense.com, 10-22-8 Until the Reagan administration indexed the income tax, inflation was a boon to government, because by pushing up wages and salaries inflation pushed taxpayers into higher brackets. This allowed the real tax burden on labor to rise without politicians having to raise the tax rates Government Bailouts Herald New Era of Tax Payer Slavery - By: Dr Ron Paul, The Market Oracle, Oct 20, 2008 - 04:31 PM In the midst of highly unpopular bailouts of Wall Street, many justifications have been given about why Washington feels the need to act. Some claim that capitalism and the free market are to blame, but we have not had capitalism. If you compare our financial capital to our aggregate debt, this would be obvious. In the same way, we have not had a truly free market. The monetary manipulations of the Federal Reserve, a complex tax code, the many "oversight" agencies and their mountains of regulations show that we are far removed from a free market economy Il truffatore e i 'patrioti italiani' - di Antonio Di Pietro, 22 Ottobre 2008 La sua perdurante latitanza dal confronto parlamentare dimostra ancora una volta che lei, signor Presidente del Consiglio che non c'è, non ha alcuna considerazione delle istituzioni democratiche. Il suo modo di governare, con il ricorso a continui decreti-legge e con il ripetuto ricorso al voto di fiducia, sta svuotando il Parlamento delle sue funzioni e del suo ruolo Se la scuola insegna… (prove tecniche di guerra civile) - di Daniele Martinelli, 22 ottobre 2008 White & Case Quits Italy With Milan Closure - Sofia Lind, Legal Week, October 22, 2008 The office's sole equity partner, Sean Geary, will relocate to New York while the five local partners and the remaining lawyers will leave White & Case Secret Reserve Bank advice favours voluntary scheme on deposits - David Uren, Dennis Shanahan and Jennifer Hewett, The Australian, October 23, 2008 The Rudd Government is wrestling with a new bank deposit guarantee after Reserve Bank governor Glenn Stevens warned that the "more the guarantee is used, the bigger the problem" in financial markets... 10/22/08 - Financial Pop Quiz - by The Mogambo Guru The latest Federal Reserve H3 report shows another giant leap in the monetary base, another 8.2% in the past 2 weeks, on top of the 7.65% increase Sept 10-24." This is Truly, Truly Staggering (TTS)! And to show you how staggering, perhaps it is time for a Mogambo Pop Quiz. Answer this multiple-choice question: "Inflation in the money supply is the precursor to… 1.) Inflation in consumer prices, 2.) The ugly death of the economy, meaning the economic death of you and everybody you know because rising prices will eat you alive, or 3.) All of the above, and plenty more things that are too ugly to even talk about, except maybe that prostitutes will be everywhere..." 10/21/08 - A Little Thing Called Inflation - by The Mogambo Guru "The Fed is now giving foreigners 'unlimited amounts of dollar funds', and yet I cannot get another dollar with which to turn my ordinary burger-and-fries dinner into a Grande Feast of double fries and two perfectly-fried all-beef patties?" Panicked Flight Into Corporatism As System Breaks Down - EIRNS, Oct. 21, 2008 As the global financial system breaks apart, the bankers, their regulators and the governments are also breaking down, psychologically, and lashing out with statements and actions which have no substance. The dominant themes from this dysfunctional crowd of bozos are escalating bailouts and global financial dictatorship, as they push ever crazier schemes in a desperate effort to save what cannot be saved. What they will get is not success, but deadly hyperinflation, and the collapse into a dark age, a process which has already begun Treasury Blacks Out Key Parts of Private Bailout Contracts - David Sirota, The Huffington Post, October 19, 2008 Within just a few weeks of the bailout passing, our government is blacking out the parts of public contracts that explain how much taxpayer cash private contractors are going to be paid What Went Wrong in the Capitalist Casino? - by Tony Benn, Global Research, October 22, 2008 "THE great inter-war slumps were not acts of God or of blind forces. They were the sure and certain result of the concentration of too much economic power in the hands of too few men. These men had only learned how to act in the interest of their own bureaucratically-run private monopolies which may be likened to totalitarian oligarchies within our democratic state, They had and they felt no responsibility to the nation." The Financial Meltdown: This Time Is Different - by Stephen Lendman, Global Research, October 22, 2008 The Center on Budget and Policy Priorities reported that 29 or more states (and the District of Columbia) face an estimated $48 billion in total budget shortfalls for FY 2009. Unlike the federal government, states and cities can't run deficits or borrow like Washington for operating expenditures. They can only use available reserves, cut spending or raise taxes. Choosing the latter two will contract their economies further and contribute to a national slowdown (they will discover they can print an emergency local currency like the widespread complementary currencies to fill the gap, or else.... see below) Sen. Warner Supports Domestic Use of Military - by David Swanson, Global Research, October 22, 2008 Monthly job losses cut across 41 states - By Lara Moscrip, CNNMoney.com, October 21, 2008 More than 80% of states reported jobs disappearing in September, with Michigan suffering the highest losses, according to a government report 2ème référé de tous les dangers contre la vente scandaleuse de Fortis - L'Investigateur, 21/10/2008 Deminor a confirmé mardi, lors d'une conférence de presse, le dépôt d'une action en référé visant à suspendre le rachat de 75% de Fortis Banque par le groupe français BNP Paribas Le 1er procès de tous les dangers pour Fortis déjà plaidé en référé hier - L'Investigateur, 21/10/2008 THE WORLD'S CHOICE: Suicide by Banker, or Return To Bretton Woods - by John Hoefle, Executive Intelligence Review, October 24, 2008 The global financial system is dead, and the wild-eyed bailout schemes being touted as fixes are all incompetent and insane, the equivalent of giving junkies more of the drugs that are already killing them. There are some differences in the proposed schemes, just as there are differences between heroin and crack cocaine, but they would all give the addicts more poison Letter threats to Chase grow past 30: FBI - By Randall Mikkelsen, Reuters, Oct 21, 2008 At least 30 Chase bank offices in nine U.S. states have been targeted by threatening letters, many of them containing an unidentified powder, an FBI spokesman said on Tuesday Destroying The Village 'To Save It' - By Jim Kirwan, rense.com, 10-21-8 Layoffs, downsizing, or outsourcing are the rulers of the minute, the hour, the day, the week and apparently this will last for years. From Yahoo to automotive manufacturing, from retail stores that continue to drop like flies, to virtually every aspect of local, city and state governments as well as the federal government; the money-changers continue to poison every corner of the world we once enjoyed. What is happening in this grand charade is that the Money-Changers have lost their ability to keep things hidden... On BNN, Embry warns of failure of December gold contract - gata.org, October 21, 2008 Embry speculated that long contract holders may call for delivery of enough December contracts as to prompt a claim of force majeure when the exchange cannot delivery enough real metal When Greed is Rewarded: Government of Thieves - By PAUL CRAIG ROBERTS, Counterpunch, October 17 / 20, 2008 Just as the Bush regime’s wars have been used to pour billions of dollars into the pockets of its military-security donor base, the Paulson bailout looks like a Bush regime scheme to incur $700 billion in new public debt in order to transfer the money into the coffers of its financial donor base Fitch casts doubt on derivative protection companies - Radi Khasawneh, Financial News, 21 Oct 2008 Fitch Ratings is revising it process for rating companies set up to sell protection to banks on their derivative exposure after two credit-focused vehicles, backed by collapsed bank Lehman Brothers, filed for bankruptcy Further banks may fail, says IMF - BBC, 21 October 2008 More European banks "may fail" as doubts persist about the viability of their business models, the International Monetary Fund has warned Economic Crisis Traced To Bounced Check For $16 (audio) - ONN Radio News, 21/10/2008 Fleet Of Alien Destroyers Demand Details Of Obama's Universal Health Care Plan (audio) - ONN Radio News, 20/10/2008 Metal keeps drying up as Comex pretends otherwise - Gata.org, 2008-10-20 National City to cut 4,000 jobs - By Jonathan Stempel, Reuters, Oct 21, 2008 National City Corp, a U.S. Midwest regional bank hard hit by the credit crisis, on Tuesday announced plans to slash 4,000 jobs... Russia is well prepared to survive financial crisis says Putin - Tony Halpin, Times Online, October 20, 2008 "We have taken into account potential threats while building financial and economic policies," he said. "We can to a great extent fund economic growth from our internal resources." ECB Offers Banks Unlimited Dollars to Boost Lending (Update1) - By Christian Vits, Bloomberg, Oct. 21, 2008 Unlimited debt-money: unlimited insolvency will follow suit The Founding Father of Crony Capitalism - by Thomas J. DiLorenzo, Mises Institute, 10/21/2008 What all this frantic Hamilton idolatry demonstrates is how the myth of Alexander Hamilton is the ideological cornerstone of the American system of crony capitalism financed by a huge public debt and legalized counterfeiting through central banking. It is this system that is the real cause of the current economic crisis — contrary to the false proclamations issued by Forbes.com and the Wall Street Journal Predictable Poverty: The Inevitable Legacy of a Neo-Liberal Europe - by Susan George, Spectrezine, October 21, 2008 The requirements for reducing or eliminating poverty are known and the money is there. The political will at present seems non-existent, but social movements will continue as best they can to defend a different future Home pricing slump to linger - Tribune Staff and Wire Services, 10/20/2008 Home prices across much of the country and in Utah are likely to fall through at least late 2009  Citigroup Wins $364.2 Million in Parmalat Fraud Trial - Brian Baxter, The American Lawyer, October 21, 2008 A New Jersey jury awarded Citigroup $364.2 million in damages on Monday after finding that Italian dairy giant Parmalat defrauded the financial services firm in a case stemming from a 2003 accounting scandal known as "Europe's Enron." The verdict ends months of litigation in the suit originally brought by Parmalat, which accused Citigroup of being complicit in the fraud that pushed the company into a 2003 bankruptcy. The jury awarded Citigroup the highest amount it could grant for monetary damages Mortgage firm arranged stealth campaign - By PETE YOST, Associated Press, October 19, 2008 Freddie Mac secretly paid a Republican consulting firm $2 million to kill legislation that would have regulated and trimmed the mortgage finance giant and its sister company, Fannie Mae, three years before the government took control to prevent their collapse... NO FORECLOSURES! Guerilla Principles to Save Your Family and Stick It to the Banks! Britain Bribed Spanish Generals to Keep Spain Out of World War II - The Times, October 15, 2008 Winston Churchill authorised millions of dollars in bribes to stop General Franco from entering the Second World War on the side of Germany, a new book claims. The British wartime leader persuaded Juan March, a Spanish banker, to act as a secret agent, organising payments of millions of dollars to the generals. In return the generals persuaded Franco not to side with Hitler. The plot was revealed by the historian Pere Ferrer in Juan March: The Most Mysterious Man in the World, after researching papers in British and US archives U.N. agency says crisis to cost 20 million jobs - By Jonathan Lynn, Reuters, Oct 20, 2008 La domanda non pósta è: quanti imbracceranno le armi? (che buffo, se metti Imbracceranno su google ti esce: Forse cercavi: impiccheranno) The Panic of 2008 - Bob Moriarty, 321gold, Oct 21, 2008 The credit system has ground to a halt. Commerce is on the verge of a complete breakdown. 18 hours after the bank holiday starts, the riots begin Pakistan facing bankruptcy as world financial crisis deepens - by Vilani Peiris, Global Research, October 20, 2008 The international credit rating agency, Standard & Poor’s, has downgraded Pakistan to a position superior only to the Seychelles, which has already defaulted The World of MLM's - Greatest Ponzi Scheme in History Part 1 - By: David Chu, The Market Oracle, Oct 20, 2008 News reporters discovered that Mr. Ponzi had previously gone to jail for forgery in Montreal and that he only had $1.6 million for about $15 million he received from his investors (this debt-to-asset ratio of over 9 to 1 is not so bad considering by today's standards: one former derivatives company, LTCM, was leveraged 300 to 1!). He was subsequently sent to prison and later deported from the U.S. (by contrast, today's greatest swindlers on Wall Street are rewarded with government appointments on Pennsylvania Avenue or lucrative book deals in New York, or both). If he would be alive today, Mr. Ponzi would be amazed at and extremely proud of the greatest Ponzi scheme on the planet and in the history of the world: the ability of the United States to create money and credit from nothing and, here is the kicker, its ability to exchange that monopoly money and fake credit for real goods and real services produced by the little people from the rest of the world, and its ability to rape and pillage the natural and human resources of the developing world in broad daylight under the guise of spreading democracy and freedom ! UP AND DOWN WALL STREET: It Isn't Over - By ALAN ABELSON, BARRON'S, OCTOBER 20, 2008 The recession, the credit crunch, the housing collapse and the bear market have not run their course. Buffett: great but not infallible Let It Collapse! - By Christopher Ketcham, rense.com, 10-21-8 Are there any jobs in New York City that actually produce something other than a fart in the wind on a website or in the windows of mannequins at Saks Fifth Avenue or in the ledgers of bankers and brokers, the parasitic middlemen? Expose The Criminals Before They Kill You - By Dick Eastman, rense.com, 10-21-8 We can defeat enslavement by global financial crime if we all can agree on what their crime have been, and what those crimes have cost us, and if we can disconnect from their programmed deceit and move as one mass, in every city and village in united opposition to the debt slavery, wage-slavery, monopoly-slavery, dumb-down slavery, rigged-election slavery, monetary slavery systems that are our chains Ten Chase banks hit with letter threats - Reuters, Oct 20, 2008 Ten branches of Chase bank in Colorado and Oklahoma received threatening letters on Monday, some containing a harmless white powder A CALL FOR OUR CHILDREN!!! - Presented to the Dallas City Council By Richard P. Sheridan, Oct 19 We are now into a Second American Revolution, pitting the Financial Elite, those that Thomas Jefferson warned us about, versus We the People. In this 2nd American Revolution, we must rebuild the family, which is the essential building block in any community, in any city, in any Nation The Guys From ‘Government Sachs’ - By JULIE CRESWELL and BEN WHITE, New York Times, October 17, 2008 Analysts wonder why Mr. Paulson hasn’t hired more individuals from other banks to limit the appearance that the Treasury Department has become a de facto Goldman division Bank chiefs ordered to cut home evictions - Gaby Hinsliff and Toby Helm, The Observer, Sunday October 19 2008 Banks will face new curbs on home repossessions to prevent families from being evicted when they fall into financial difficulties, the Chief Secretary to the Treasury has promised FARMER IN CHIEF - By Michael Pollan, New York Times Magazine (pg. 62), October 12, 2008 [Rachel's introduction: With a suddenness that has taken us all by surprise, the era of cheap and abundant food appears to be drawing to a close. The good news is that the twinned crises in food and energy are creating a political environment in which real reform of the food system may actually be possible for the first time in a generation.] Lehman Brothers' CEO and Former CFO Subpoenaed - Vivia Chen, The American Lawyer, October 20, 2008 Federal prosecutors have subpoenaed 12 Lehman Brothers utives, including CEO Richard Fuld, in connection with three grand jury investigations into the investment bank's fall. Also included in the subpoenas: Former Lehman CFO Erin Callan, who landed at Credit Suisse after being booted from Lehman for hedge fund short selling. Feted less than a year ago as one of Wall Street's most powerful women, Callan will be turning to Proskauer partner Robert Cleary for help IS POSSE COMITATUS DEAD? - By Amy Goodman, Democracy Now!, October 8, 2008 [Rachel's introduction: "The whole question here about what the Pentagon is doing patrolling in the United States gets to the real heart of the matter, which is, do we have a democracy here? I mean, there is a law on the books called the Posse Comitatus Act and the Insurrection Act that says that the president of the United States, as commander-in-chief, cannot put the military on our streets. And this is a violation of that..."] Calyon credit boss quits after less than one year - Duncan Kerr, Financial News, 20 oct 2008 The global head of Calyon’s credit business has left the bank less than a year after he joined, in one of the most high-profile senior management departures to have hit the French investment bank after it unveiled plans to restructure its operations last month Goldman alumni drafted in to help US plan - Shanny Basar, Financial News, 20 oct 2008 While the UK Government turned to a group of bankers from Credit Suisse and Deutsche Bank to advise on the bailout of its banking industry, the US administration appears to have relied on the Goldman Sachs alumni who have been drafted in by Treasury Secretary Henry Paulson, Goldman’s former chairman and chief executive (Parafrasando, perché mai la gente dovrebbe voler farsi curare da degli oncologi che stanno morendo di cancro?) La Bretton Woods 2 di LaRouche e Tremonti - MoviSol, 20 ottobre 2008 Il denaro pubblico dovrebbe salvare solo la parte commerciale, necessaria per il finanziamento delle imprese produttive. I mutui immobiliari in sofferenza andrebbero inseriti in un fondo pubblico (rinegoziando una rata equa con i sottoscrittori). Un «firewall» (muro di fuoco) dovrebbe impedire che gli aiuti di Stato siano dirottati dalle banche sui fondi e sulle altre entità speculative, che andrebbero lasciate fallire per ripulire i mercati finanziari 10/20/08 - Theatre of the Fiscally Absurd - by The Mogambo Guru "Bernanke is busily colluding with the Treasury Secretary and other central bankers around the world to generate horrific inflation through massive expansions of the (debt-masked-as)money supply that will cause untold misery for billions of people so that they can, in some laughable comedy of low-IQ desperation, ameliorate their tragic incompetence and ludicrous economic theories" Hard Times - by Stephen Lendman, Global Research, October 20, 2008 Chapman thinks the train left the station, and nothing can stop it. Current policies can only delay the inevitable through a Ponzi scheme "final orgy of fraud and profligacy." The idea is to "take total control, make markets do whatever pleases them (and) thus create their own reality." Today's crisis was manufactured but not as it's turning out. Far worse than planned so the best laid schemes "are unraveling," according to Chapman. Too many trillions in losses to handle may result, and at this stage, who can say what's ahead. Not what the masters of the universe had in mind except to take the money and run Viermetz relinquishes Deutsche Börse role - The Wall Street Journal, 20 Oct 2008 Deutsche Börse has declared the resignation of Kurt Viermetz, its supervisory-board chairman, effective December. (Deutsche Börse is the owner of the discussed clearing house Clearstream) Caisse d'Epargne chief quits amid rogue trading scandal - The Wall Street Journal, 20 Oct 2008 Charles Milhaud, the chief executive of Groupe Caisse d'Epargne, on Sunday quit following a €600m ($808m) rogue trading scandal, saying he accepted "full responsibility" for the loss which the French bank recorded last week due to a "trading mistake" Kucinich calls for probe of bonuses for Wall Street aid recipients - RAW STORY, October 19, 2008 Congressman Dennis Kucinich (D-OH) has called for a probe into $70 billion worth of pay deals planned for employees of failed banking firms receiving government aid  ING, encore une banque qui ment comme elle respire - L'Investigateur, 19/10/2008 Il faudrait absolument mettre en prison les banquiers qui mentent au public et aux actionnaires à la veille de leur déconfiture. Car il ne s’agit ni plus ni moins que de cacher une faillite et d’induire les déposants et actionnaires volontairement en erreur ECB council member foresees 'tri-polar' currency system - By Jonathan Tirone, Bloomberg News, October 19, 2008 European Central Bank council member Ewald Nowotny said a "tri-polar" global currency system is developing between Asia, Europe, and the United States and that he's skeptical the U.S. dollar's centrality can be revived No credit? No assets? No problem at U.S. Treasury! - gata.org, 2008-10-18 You may enjoy the "commercial" made for the U.S. Treasury Department by the "Nightly Business Report" program of the U.S. Public Broadcasting System. Note particularly the quickly-spoken "small print" at the end of the commercial: "This offer depends on the willingness of the Chinese government to continue buying U.S. government debt. Terms and conditions depend on the whim of Congress and may be changed without notice. U.S. taxpayers may not apply." Forrest Hylton: Neither McCain nor Obama really know what 's happening in South America - October 17, 2008 South America is finally beginning to realize the vision of Simon Bolivar, while the U.S., according to Forrest Hylton, including both presidential candidates don't seem to know the significance of their growing unity. Or maybe they do, and they're avoiding talk of the North American Union, to which most Americans are opposed. While Venezuela under Chavez continues to be demonized by the U.S., Russia is developing cozy relations with the South American country. Touché! Rubate le coordinate bancarie del conto di Sarkozy. Sottratte diverse somme di denaro - RaiNews24, 19 ottobre 2008 Se neanche il conto bancario di Sarkozy è al sicuro, figùrati il tuo! Governare l'apocalisse - Massimo Fini, Il Gazzettino 17 ottobre 2008 Tutti i rappresentanti delle Istituzioni, i premier, i ministri, i direttori delle Banche centrali, i politici, gli economisti, gli imprenditori, i commentatori specializzati (vale a dire l'intera "fairy band" delle leadership occidentali) ci martellano da giorni invitandoci ad "avere fiducia". Ma perché dovremmo avere fiducia? US to host global finance summit - BBC, 19 October 2008 The presidents of the US, France and the European Commission have unveiled plans for a series of summits to discuss the global financial crisis. The planned summits will "seek agreement on principles of reform" (la Commissione Europea NON è un organo eletto democraticamente) Fed Fighting to Prevent 1930's Style Financial and Economic Deflation - By: Tim Wood. The Market Oracle, Oct 18, 2008 Think about this for a minute. We have people trying to fix a problem that never even saw the problem coming and that are too ignorant to understand that they are part of the problem. They are why things have escalated to this point. Them trying to “fix” things is what got us this deep into this mess in the first place. What a joke this is. On top of the politicians we have the mainstream media that is clearly lost as well  A Gigantic Armed Robbery - by Robert Higgs, LewRockwell.com, October 18, 2008 What we have before us now is a systematic redistribution from the prudent and the responsible to the imprudent and the irresponsible. Did you make your mortgage payments in full when they were due? Were you careful to avoid investing in incomprehensible derivatives whose failure might lead to your bankruptcy? Very good, sir: you are therefore entitled to relinquish substantial amounts of your wealth, either directly through ordinary taxation or indirectly through the "inflation tax" and the diffuse effects of "crowding out" in the loanable-funds market, where the government must soon borrow hundreds of billions of dollars more than expected a few months ago  Inflation Or Deflation? BOTH - George Washington's Blog. October 17, 2008 Falling prices in assets associated with debt - houses and financial stocks – and rising prices in things which you buy with cash – food, energy and some imported goods Financial Crisis: Paulson Panics as UK, Germany find own solution - by F. William Engdahl, Global Research, October 18, 2008 The Paulson plan was widely criticized among more sober US bankers and economists, including Paulson’s predecessor as Treasury Secretary, Paul O’Neill who simply called the concept of using $700 billion taxpayer bailout fund to buy ‘toxic debt’ from banks, as ‘crazy.’ BOOT THE BAILOUT BUMS OUT - By CJ Graham, NewsWithViews.com, October 18, 2008 Once again the topic of the ‘Fat Cat’ bailout was touched on, only briefly, to drive home the point that both ‘Senators,’ running for President, Republican and Democrat, are servants, not of the American people, but of the ‘Gods of Globalism.’ ("CJ" Graham is a Veteran and the proud wife of a retired USAF Veteran) VETERANS MUST FIGHT, OR DIE HOMELESS - By Andrew C. Wallace, NewsWithViews.com, October 18, 2008 The presidential campaign with Obama and McCain is a total fraud, both are controlled by the same people who are out to impoverish and enslave us. Both of them announced they support amnesty, free trade and the bailouts which gives everything we have to the corporate elites. Whoever is elected should be impeached. (Andrew C. Wallace is a former Kentucky State Trooper, Kentucky Native, Korean War Veteran) Economist Mundell says China should buy all IMF gold (if it exists anymore...)- gata.org, October 18, 2008 A man in the audience who identified himself as a Comex gold trader asked how he could protect himself against U.S. government intervention to obstruct delivery of gold due on the December contract. I replied that unfortunately the only defense against such lawlessness by the government might be the Second Amendment Bleak Economic Outlook for Spain - By Manuel Baigorri, Spiegel, 10/17/2008 The collapse in housing and construction has mingled with the global financial crisis to create one of Spain's worst periods in decades The £2 trillion craziness that swept the globe - By Alistair Osborne, Telegraph, 17 Oct 2008 Let's be generous here. Perhaps history will prove that the events of this week were all a clever plot by the world's leaders to deter an alien invasion... Ron Paul: Bailout means we'll all suffer - CNN, October 17, 2008 On bailout: "It's an immoral system. You're asking the poor people to bail out the rich". Right now there's a fight going on in this country. Our numbers are growing. We're not the majority, but our numbers are growing. And as this situation deteriorates, more people are going to say, hey, maybe it's right. Maybe limited government and freedom works. Maybe freedom is popular, and maybe freedom really works. And this idea that we have to depend on government for all these programs is an illusion Andrew Lahde: Hedge Fund Closure Letter to Investors - Hedge Fund blogger, Oct. 17, 2008 "All of this behavior supporting the Aristocracy, only ended up making it easier for me to find people stupid enough to take the other side of my trades. God bless America." Finanza alla milanese, il Comune brucia 300 milioni - L'espresso, 17/10/08 (potrebbero emettere dei Buoni Locali di Solidarietà per far uscire dalla crisi Milano e l'hinterland...cittadini compresi) Oberato da debiti tenta di farsi saltare in aria, ma muore per asfissia - di Andrea Barbato, PupiaTV, 18/10/2008 (Il titolo non si riferisce al governo...) A Mascalucia nel catanese. Morto per esalazioni di gas ma voleva dare fuoco alla casa. L'uomo perde la vita, la sorella è illesa Rattled pension plans kicked hard by financial meltdown - The Canadian Press, October 18, 2008 Hundreds of Spanish car workers have been protesting outside Nissan's plant in Barcelona over the firm's plans to cut nearly 1, 700 jobs (video) Chinese Factory Workers Protest Closing, Demand Pay (video) - Reuters, Oct. 17, 2008 'The Crisis Leaps Across the Planet' - by Stanislav Menshikov, LaRouchePAC, October 17th, 2008 View from Senior Russian Economist. One After Another, the Bubbles Pop (last one will be the global reckoning of the private seigniorage scam...) Economia: SCIOPERI: CUB, HANNO ADERITO MILIONI DI LAVORATORI - Adnkronos, 17 ott. 2008 La partecipazione allo sciopero generale ha riguardato il 50% dei lavoratori dell'industria, il 60% di quelli dei trasporti, con rilevanti punte di oltre il 90% per quelli di scuola ed enti locali. Con l'appuntamento di oggi si avvia un percorso di iniziative di lotta che sviluppera' nelle prossime settimane". Tra gli obiettivi della Cub "vi e' quello dell'aumento e della difesa del reddito di lavoratori e pensionati, attraverso un aumento immediato di 3000 euro annui (si può fare di più: recupero signoraggio = salario netto in busta uguale all'attuale lordo) Block the Vote - ROBERT F. KENNEDY JR. & GREG PALAST, Rolling Stones, Oct 30, 2008 Will the GOP's campaign to deter new voters and discard Democratic ballots determine the next president? On Super Tuesday, one in nine Democrats who tried to cast ballots in New Mexico found their names missing from the registration lists. The numbers were even higher in precincts like Las Vegas, where nearly 20 percent of the county's voters were absent from the rolls. With their status in limbo, the voters were forced to cast "provisional" ballots, which can be reviewed and discarded by election officials without explanation Le Luxembourg, ses banques et ses avocats luttent pour un journalisme sérieux... - Blog "En finir avec les Paradis Fiscaux", 17 octobre 2008 Luxembourg: an obstacle to progress - Richard Murphy, Tax Research UK, 15/10/2008 In the press release after the meeting that took place in Paris last Sunday between the G7, the IMF and Eurogroup, there is nothing about the fight against tax havens and other offshore centers that are a threat for the international finance... Ceci n'est pas un message - Blog ladominationdumonde, 16.10.08 Run on Russian bank heightens fears - By Charles Clover and Catherine Belton, Financial Times, October 15 2008 Banks across Russia have faced a rise in outflows as depositors have begun to lose trust in all but the biggest state banks, VTB and Sberbank, which have received most of the government’s liquidity support Scientists Challenge UK Govt Climate Committee to 'Drop flawed science and the Climate Change millstone - Save the economy' - Co2sceptic, October 15th 2008 Genuine green policies to defend bio-diversity and reduce waste should be supported but the deceitful manipulation of the goodwill of many people in order to promote policies of mass taxation, expensive and dangerous energy like nuclear power and cuts in world living standards must be stopped. The UK and the world now need cheap energy solutions like coal to diesel technology which can be made smoke free. The danger for honest green campaigners - unless they break from the stranglehold of the Climate Change lobby - is that when the Global Warming swindle is exposed their spirited defence of nature will be forgotten too   The global economic crisis: An historic opportunity for transformation - Casino Crash, October 17th, 2008 Such is the chaos in the global financial system that Northern governments have resorted to measures progressive movements have advocated for years, such as nationalisation of banks. These moves are intended, however, as short-term stabilisation measures and once the storm clears, they are likely to return the banks to the private sector. We have a short window of opportunity to mobilise so that they are not Global systemic crisis Alert - Summer 2009: The US government defaults on its debt - Public announcement GEAB N°28, October 16, 2008 Our researchers anticipate that, before next summer 2009, the US government will default and be prevented to pay back its creditors (and Europe will follow suit) Paulson, the Treasurer of Wall Street - By Matthew Rothschild, The progressive, October 14, 2008 Is there anyone out there other than Ralph Nader, Dennis Kucinich, and Bernie Sanders who wonders about the conflict of interest that Henry Paulson has been displaying lately? Cerberus defies 'horrible stress' to beat peers - David Walker, Financial News, 17 oct 2008 US-based alternative investor Cerberus Associates said its flagship hedge fund posted returns of 1% for the year to the end of August, despite a period of "horrible stress" in the financial markets that has led to significant losses in its peer group over the period (Cerberus gain from the NIS - New Israeli Shekel - seigniorage extracted from unaware jews through the ownership of the private Central Bank of Israel - via Bank Leumi. And there are still some people around thinking that jews are so smart in banking???) L'Italia rischia di essere scalata in Borsa - Filippo Ghira, Rinascita,i 17 Ottobre 2008 – 13:22 – I piccoli azionisti non hanno mai avuto parola sulle scelte aziendali e l’unica cosa che veniva loro concessa era quella di incassare il dividendo, quando c’era. Oltre a questo, i piccoli azionisti, che i Poteri Forti definivano sprezzantemente il “parco buoi”, hanno sempre dovuto osservare da lontano scelte prese all’interno dei “salotti buoni” milanesi all’insegna della cosiddetta “ingegneria finanziaria”. Un meccanismo grazie al quale ad esempio pezzi pregiati di questa o quella società quotata, venivano poco elegantemente trasferiti a un’altra società, sempre facente parte della cerchia dei “felici pochi” dei suddetti salotti The Euro Has Significant Problems - And They're Likely to Worsen - Seeking Alpha, October 17, 2008 While EU politicians keep on talking about a unitary solution to the banking debacle, the ECB quietly rumps up its money creation to Weimar style. While TV would have offered me Madonna's divorce settlement and all the gory details, the more interesting information is to be found on the ECB's website. Just watch the chronological order and discover that the ECB will flood the market with any amount of new debt until a political situation is found. The latter may take a lot longer due to the varying size of the EU banking debacle in its member states... (you can spot from the USD/EUR exchange that ECB printing presses are in a frenzy) Financial crisis: Interest rates to hit lowest level since 1694 - By Edmund Conway, The Telegraph, 17 Oct 2008 Interest rates may have to be slashed to the lowest level in more than 300 years, experts have warned (The unwinding of the private seigniorage fraud...) Fears of Lehman's CDS derivatives haunt markets - By Ambrose Evans-Pritchard, The Telegraph, 17 Oct 2008 Among the others with declared exposure: Swedbank $1.2bn; Freddie Mac $1.2bn; State Street $1bn; Allianz €400m; BNP Paribas €400m; AXA €300m; Intesa Sanpaolo €260m; Raffeissen Bank €252m; Unicredit €120m; ING €100m; Danske Bank $100m; Aviva £270m; Australia and New Zealand Bank $120m; Mistubishi $235m; China Citic Bank $76m; China Construction Bank $191m, Industrial Commercial Bank of China $152m and Bank of China $76m Spanish airline suspends flights - BBC, 17 October 2008 Spanish-based airline LTE International has suspended operations after telling Spanish authorities that it was in serious financial difficulty In diritto o in rovescio sempre un affare è… - di Daniele Martinelli, 17 ottobre 2008 In Italia conviene delinquere per molto. Se fai il tuo lavoro per poco rischi fastidi che ti portano via tempo e denaro... EU call for global financial regulation masks intra-European and international tensions - by Chris Marsden, Global Research, October 17, 2008 The meeting in Brussels provided further evidence of the perplexity and impotence of Europe’s leaders in the face of the plunge of the global economy into recession. The EU summit confirmed the plans of the European morons to bail out their major banks at taxpayer expense Northern Rock criticised over 'aggressive repossessions' - by Victoria Hartley, guardian.co.uk, October 17 2008 Debt charity says nationalised bank is twice as likely to repossess a home as other mortgage lenders... Police fight police in Sao Paulo riots - Associated Press, October 17 2008 Detectives on stroke clash violently with state troopers during protest march over better pay... Ossigeno alle imprese - Antonio Di Pietro, 17 Ottobre 2008 Le imprese sono in asfissia da liquidità, un asfissia generata dallo stesso Stato che richiede pagamenti e anticipi di imposte lasciando gli imprenditori l'onere di rincorrere i loro tempi di incasso. Il Governo ha l'obbligo di intervenire, le banche hanno il dovere morale oltre che professionale di aprire il credito, altrimenti verranno entrambi travolti e saranno responsabili del fallimento di migliaia di imprese e con esse del fatto che molte famiglie finiranno in mezzo ad una strada... Banks borrow record $437.5 billion per day from Fed - Reuters, Oct 17, 2008 Scontri tra poliziotti civili e militari a S. Paolo del Brasile - RaiNews24, 16 ottobre 2008 Chiedevano un aumento del salario... Spari e lacrimogeni, molti feriti alcuni gravi (stanno aprendo gli occhi) Sein letztes Interview: Haider fordert eine Regierung der Einheit - Kleine Zeitung, 10.10.2008 Er fordert einen Sondergerichtshof für Wirtschaftsdelikte, einen neuen Konsumentenschutz und eine Regierung der Einheit. Jörg Haider über Krise, Wahlen und deren Folgen (La sua ultima intervista: Haider chiede un governo di unità nazionale ed un tribunale speciale per i crimini economici...) ''Gli scoppiati'' - di Stefania Rimini, Report, domenica 19 ottobre alle 21.30 su RAI TRE. Il sistema finanziario si sta disintegrando sotto i nostri occhi, alcune banche sono fallite, altre lo stanno per fare, altre ancora stanno tremando e con loro i risparmiatori e i politici di tutto il mondo, mentre tutto è aumentato (fuorché i salari e le pensioni), il pane, la benzina, le rate del mutuo... Chi o cosa ci sta rovinando la vita? CRISI BANCHE: GRILLO-BROKER, OPA MEDIASET E TRAVAGLIO DIRETTORE - AGI, 17 ott. 2008 Ne dites pas à ma mère que je suis banquier, elle croit que je fais un métier honnête ! - L’investigateur numéro 451 du 17 octobre 2008 Prudential led the insurance shares lower on concerns about their capital - By Yvette Essen, The Telegraph, 17 Oct 2008 Insurance shares are left reeling by investors' concerns that tumbling equity markets will hurt their capital strength Icesave accounts disappear from website - By Kara Gammell, The Telegraph, 16 Oct 2008 Banks banned from paying dividends for five years - By Robert Winnett, The Telegraph, 16 Oct 2008 Does The Bailout Pass The Smell Test? - By Paul Craig Roberts, rense.com, 10-16-8 The public monies that are being directed to private financial institutions are huge. According to news reports, Germany is devoting $540 billion to shoring up German banks, England is devoting $73 billion, and France has pledged over $400 billion. The US now has four separate bailouts underway, $800 billion for banks, $200 billion for Fannie Mae and Freddie Mac, $85 billion for the insurer AIG, and $25 billion for the US auto industry. These figures add to more than $2.1 trillion (none is directly addressed to food and shelter for the people) Greenspan’s responsibility - Casino Crash, October 17th, 2008 The New York Times, last week featured an illuminating article on Alan Greenspan, once nicknamed the Oracle, for his personal responsibility for stopping measures that could have prevented the financial crisis Shut Down the Derivatives Markets To Save Civilization - by John Hoefle, Executive Intelligence Review, October 17, 2008 Unless and until you deal with this derivatives bubble, which can not be bailed out, you are just kidding yourself. It is time for Hank Paulson to swallow the only real medicine: bankruptcy reorganization of the entire, dollar-based financial system. And the first step in any such bankruptcy reorganization would be the cancellation of these quadrillions of dollars in pure gambling obligations. Without such action, this planet is doomed to a horrible dark age, just like the dark age of the Fourteenth Century, that followed the collapse of the Lombard banking system Italy Could Bring Down the Euro - October 16, 2008 How will the Euro survive a member country's financial collapse? Italy has cooked the books since before even joining the euro. Bond markets know it, the wide spread between Italian government bonds and German government bonds shows that many believe that European unity will not include the Bundesbank standing behind Italian Buoni del Tesoro Pluriennali. If Italy fails what happens to the European project? Alifarsa - Beppe Grillo, 15 Ottobre 2008 I 16 salvatori della compagnia di bandiera sono a corto di liquido. Il capofila Roberto Colaninno aveva promesso di versare 150 milioni di euro in CAI, la nuova società. Non i suoi, come consuetudine dai tempi della scalata a Telecom Italia. I soldi contava di prenderli in prestito, come ogni imprenditore italiano che si rispetti. La scelta è stata oculata. La banca che doveva assistere CAI era infatti la Lehman Brothers. Questi portano sfiga... Appena lo hanno saputo a New York la Lehman è fallita dopo essere sopravvissuta anche al 1929 e si è scatenato il panico nelle Borse mondiali Landsbanki Islands hf - By Tony. The Bank Implode-O-Meter, October 16th, 2008 The cold water of credit crunch swept Icelands Landsbanki Islands hf out to sea, forcing all of Europe into panic. Glitnir Bank hf, Landsbanki Island hf and Kaupthing are unable to finance about US$61-billion of debt, 12 times the size of the economy, according to data compiled by Bloomberg Iceland’s Kaupthing Bank - The Bank Implode-O-Meter, October 15th, 2008 The credit crunch swept over Iceland like a cold tsunami, shutting down the country’s largest lender, Kaupthing Bank, crashing the national economy and threatening to bring down the government CREDIT SUISSE E UBS OTTERRANNO L'AIUTO DEL GOVERNO (DEL CONTRIBUENTE) SVIZZERO - 16/10/2008 The 30 Year Lie Of The Market Cult The God That Failed - By Chris Floyd, rense.com, 10-16-8 Putting aside for a moment the actual intent, details and results of the global bailout offers, it is their very extent that shocks, and shows - in a stark, harsh, all-revealing light - the brutal disdain with which the national governments of the world's "leading democracies" have treated their own citizens for decades JPMorgan Responsible for the Destruction of U.S. Financial System - By: Jim Willie CB, The Market Oracle, Oct 16, 2008 This article discusses the JPMorgan monster, its behaviour, and teeth revealed. Robb Kirby (see his website, click HERE ) often covers JPMorgan illicit behaviour This article discusses banking system realignments to destroy savings accounts owned by the people, and the Coup d'Etat just completed. The criminals on Wall Street have taken full control of the USGovt financial management, with blank check written by a thoroughly intimidated US Congress, deceived steadily and easily. Threats and intimidation are central to the successful coup. The Ponzi Scheme has been revealed, even as the frail and tattered Shadow Banking System has been revealed. The key to the bailouts is its continued Top Down approach, which favors the Ruling Elite and denies all but crumbs to the people, who have been subjected to a foreclosure revolving door on mortgage loan assistance Banks Hoard Cash as Credit Card Defaults Rise - By Zachary A. Goldfarb, Washington Post, October 16, 2008 Consumers are increasingly unable to pay off their credit cards, forcing banks to hoard cash to protect against future losses and lend to fewer people, according to reports yesterday from several of the nation's largest banks Pompieri incendiari - di Giulietto Chiesa, 16/10/08 La crisi finanziaria mondiale non può essere affrontata lasciando nelle mani di coloro che hanno appiccato l'incendio il compito di spegnerlo. Invece è esattamente ciò che sta accadendo Foreclosures impact realtors, builders - BY SCOTT KERBS, thespectrum.com, October 16, 2008 10/16/08 - Dubai Reads from America's Economic Playbook - by The Mogambo Guru If ever there was a case where circumstances shouted, "Buy gold and silver or die a horrible death by the ruinous inflation of a fiat currency in the hands of giant, corrupt government and its greedy friends!" this is it Monopoly Men (Federal Reserve Fraud) - APFN Oct 15, 2008 Many Americans will be shocked to discover that the principle business of the Fed is to print money from nothing, lend it to the U.S. government and charge interest on these loans... 10/15/08 - A Left at Nobel Drive - by The Mogambo Guru I was actually stunned to learn that the laughable Paul Krugman, another low-wattage PhD economist from Princeton University, won the Nobel Prize in economics (which is assigned by the Central Bank of Sweden AND NOT by the Nobel Foundation itself - just another scam). Apparently Princeton University has a penchant for embarrassing itself, too, as Ben Bernanke - current chairman of the Federal Reserve - is another Princeton alumnus, who was actually the erstwhile head of the economics department there, and who demonstrates his intelligence by presiding over, and making worse, the biggest economic calamity to hit the United States and the world in a century (maybe more!), thanks to his own lack of competence and his inability to understand that his predecessor at the Fed since 1987, the execrable Alan Greenspan, was a complete moron, too  10/14/08 - No Savings Allowed - by The Mogambo Guru As Ayn Rand said, circa 1959 - according to a clip sent by Ed Steer of CaseyResearch.com - who also nailed it when she said, "Watch money. Money is the barometer of a society's virtue. When you see that trading is done, not by consent, but by compulsion - when you see that in order to produce, you need to obtain permission from men who produce nothing - when you see that money is flowing to those who deal, not in goods, but in favors - when you see that men get richer by graft and by pull than by work, and your laws don't protect you against them, but protect them against you - when you see corruption being rewarded and honesty becoming a self-sacrifice - you may know that your society is doomed." The Key To Understanding Globalism - Graham Ferguson, Nimbin News Not enough money exists to pay the interest after the debt itself has been cancelled out. In the mainstream system, the only way to get more money to pay the interest is to create more. This can only be done through another loan. By the end of the second loan, the first loan’s interest has been paid off but now there is not enough left to pay off the second loan, let alone pay its interest. A third loan must be made, and as this cycle is repeated the amount of debt mounts up to impossible levels (economic blackhole). This irrational system of planned global currency shortage is called economic rationalism (à-la-Orwell). It is as simple as 100 – 110 = –10 U.S. Government could guarantee zillions for banks - By Marcy Gordon, Associated Press via Yahoo News, October 14, 2008 All to be lended out at usury to the same taxpayers... [banking harakiri] Bank of Japan Offers Unlimited Dollars to Banks - By Mayumi Otsuma, Bloomberg News, October 15, 2008  What Will Bailout Plan Do for Smaller Bank Clients? - Andy Peters, Fulton County Daily Report, October 16, 2008 While the U.S. government is set to spend billions for stock in nine of the country's largest financial institutions, attorneys for smaller banks are scrambling to find out whether their clients can or should take advantage of the Treasury Department plan to buy into other banks. Every bank should at least take a look at it, says Nelson Mullins partner J. Brennan Ryan. However, some sectors of the banking industry say that the banks most in need of help probably aren't going to get it from this package PwC confirms $65bn frozen client assets at Lehman’s Europe arm - The Wall Street Journal, 16 Oct. 2008 PricewaterhouseCoopers, Lehman Brothers’ administrator, on Wednesday confirmed that Lehman Brothers International (Europe), the bankrupt Wall Street firm’s flagship European division, took with it $65bn (€48.3bn) in client assets last month Final looting of America by outlaws in D.C. - by Devvy Kidd, By: Devvy, NewsWithViews.com, October 16, 2008 Outlaw is defined as: a person, group, or thing excluded from the benefits and protection of the law. Americans who care about freedom and liberty have known for a long time that Congress has simply become a lawless group of political animals who care nothing for the supreme law of the land. For decades they have turned a blind eye to other outlaws operating on their behalf: non elected officials in the various cabinets and agencies who have been destroying a free market system and the Bill of Rights. The list is so long, it would fill ten columns.... Why the Bailout Scam Is More Likely to Fail than to Succeed - by Ismael Hossein-zadeh, Global Research, October 14, 2008 Leaving the issue of fraud aside, the bail out scam is also doomed to fail because it avoids diagnosis and dodges the heart of the problem: the inability of more than five million homeowners to pay their fraudulently ballooned mortgage obligations (stesso scenario in Italia a causa del "tasso variabile", una delle segrete cause di indalidità del contratto poiché il tasso è manipolato dalle banche stesse, oltreché determinare l'incertezza dell'oggetto del contratto, è una clausola vessatoria. Un bel vizio neanche molto occulto....) Financial Hurricane Batters World Capitalism: System Failure and the Need for Revolution - by Raymond Lotta, Global Research, 2008-10-15 In the heartland of capitalism, there is financial meltdown. In the Third World, millions are already suffering the ravages of a global food crisis. This system is a horror and a failure. Is it necessary for humanity to live this way? Banks dictate conditions of US financial bailout - by Alex Lantier, Global Research, 2008-10-14 The banks have taken over the United States and not one shot was fired. We are now slaves to the One World Order and when you see how this takeover is going to affect your families you are going to freak out. While the best-connected firms will profit immensely from the bailout, the bourgeoisie and its political representatives insist there is no money for elementary social needs of the working class, such as foreclosure relief, universal health care and the right to a secure retirement. The major presidential and vice presidential candidates have uniformly called for cuts in existing, already inadequate, programs such as Social Security and Medicare Fortis traîné devant les tribunaux : 6 plaintes actuellement en cours - L'Investigateur, 15/10/2008 Quelque 140 actionnaires de Fortis, détenant ensemble plus de 3 millions de titres et représentés par le bureau d'avocats bruxellois Modrikamen, réclament la mise sous séquestre des actions Fortis Banque et Fortis Insurance Belgium dans l'attente du rapport des experts... Caritas, allarme povertà in Italia: "A rischio 15 milioni di persone" - la Repubblica, 15 ottobre 2008 Il 13% ha meno di 500-600 euro al mese. Gravi difficoltà per famiglie con anziani e figli. Verso la guerra del pane?  Né pane né brioches? L'intervista ad Eugenio Benetazzo di Giovanna Canzano - 15/10/2008 Molti analisti ed uffici studi di banche d'affari non hanno saputo prevedere come si sarebbe evoluto lo scenario planetario, questo in virtù di ancoramenti ad obsoleti modelli econometrici che non sono più in grado di essere attendibili visto che non contemplano l'impatto della globalizzazione in termini socioeconomici e soprattutto perche soppesano l'asse New York/Londra ancora come il baricentro geoeconomico del mondo THE WAGES OF DENIAL - By George Monbiot, Red State Rebels, October 14, 2008 [Rachel's introduction: "Can anyone, surveying this mess, now doubt the value of the precautionary principle?"] Ecology and economy are both derived from the Greek word oikos -- a house or dwelling. Our survival depends upon the rational management of this home: the space in which life can be sustained. The rules are the same in both cases. If you extract resources at a rate beyond the level of replenishment, your stock will collapse. That's another noun which reminds us of the connection. The OED gives 69 definitions of stock. When it means a fund or store, the word evokes the trunk -- or stock -- of a tree, "from which the gains are an outgrowth". Collapse occurs when you prune the tree so heavily that it dies Not Enough Money In The World To Fix Things: The Real Monster In The Meltdown Closet - By Chris Floyd, rense.com, 10-15-8 The result of all this has been the construction of a gargantuan house of cards, based on next to nothing, and left alone in the shadow of building "perfect storm" of greed, deregulation and political corruption (I bluff dei governi incravattati dalle banche centrali private, non incantano più nessuno. Ma un titolo più azzeccato poteva essere: Not enough assets in the world to back void pseudo-monetary claims) Even nationalised banks, and the governemnts standing behind them, could be overwhelmed by the scale of the losses now emerging... LO TSUNAMI RIPARTE DA WALL STREET: -8% Berlusconi: ''Subito legge contro Opa ostili'' - Angelo Angeli, Il Salvagente, 16/10/08 Male anche le borse europee. Milano chiude a -4,95%. Pesa la paura della recessione. Usa: vendite al dettaglio -1,2%. Europa, auto: -8,2% Le brutte notizie fioccano: Borse di nuovo a precipizio - La Repubblica, 15/10/2008 Ma il peggio doveva ancora venire: in Italia ci ha pensato il Bollettino mensile di Via Nazionale, a segnalare il calo dei consumi delle famiglie e l'aumento del costo del debito, nonché il probabile peggioramento del rapporto deficit/Pil nel 2009 e il deludente andamento della produttività KPMG Assessed $41 Million for Failing to Divulge Fraud Revealed in Audit - Charles Toutant, New Jersey Law Journal, October 15, 2008 A New Jersey jury has tagged KPMG with a $41 million verdict, finding the national accounting firm was negligent in auditing a ceramic collectibles company that was up for sale. The jury found that KPMG, in advising the would-be buyer, failed to mention large-scale accounting irregularities that undercut the target company's value. An attorney in the case says he believes the verdict is the largest ever against KPMG Lawyers Ponder Liability Over Client Trust Accounts at Failed Banks - Julie Kay, The National Law Journal, October 14, 2008 Following the failure of IndyMac and the potential of other bank collapses, lawyers have been flooding bar associations with questions about whether they would be responsible for client trust accounts if a bank fails. According to research and interviews with several bar associations, lawyers should not worry about sanctions or disciplinary actions if a bank failure leads to the loss of client funds, provided the lawyer chooses an FDIC-insured, stable bank. However, civil liability is another matter [bancopoli] Borsa Pulita - Beppe Grillo, 14 Ottobre 2008 Affidereste i vostri risparmi a un pregiudicato senza che vi punti contro una pistola? A una persona in attesa di giudizio per truffa, bancarotta, frode fiscale, usura? Chi compra azioni va garantito. L’integrità delle persone che gestiscono l’azienda in cui si investe è un dato economico, non solo penale. La reputazione nel mondo degli affari è tutto Links to analysis - 13 October - CasinoCrash, October 14th, 2008 Richard Murphy from Tax Research UK makes some practical proposals for radically reforming the banking sector now that they have been semi-nationalised by the UK government. “Those activities that undermine the state, whether they be tax haven operations, private wealth management divisions or structured finance arms ….must be shut. The political signal must be sent that the world has changed and the bank model that was designed to undermine the state (as it was) is now history.” The Fannie/Freddie Flat Earth Theory - by: Dean Baker, t r u t h o u t, 13 October 2008 Just stop paying your mortgage - By Peter Schiff, October 10, 2008 When a financial institution holds a mortgage, homeowners must live with the fear of foreclosure. Private institutions only have obligations to shareholders. In the case of a defaulting borrower, they will look to recover as much of their principal as possible. If foreclosure is their best option, they will take it in a heartbeat. The government has no such obligations. Its only goal is to keep voters happy. After supposedly bailing out the fat cats on Wall Street, no politician wants to be accused of evicting struggling families. Once you understand this, all of your anxiety should melt away. Why pay your mortgage if foreclosure is off the table, and if you know that lower payments, and possibly a reduced loan amount, would result? “Crisi economica mondiale? Colpa degli ebrei” - Israele.net, 14-10-2008 Questo vecchio ritornello non funzionerà per coprire i veri responsabili istituzionali dello sfacelo... U.S. Treasury Said to Invest in Nine Major U.S. Banks - By Robert Schmidt and Peter Cook, Bloomberg News, October 13, 2008 U.S. Govt. merges with Morgan Chase, Goldman Sachs. A mere technicality Financial Planner Advises Shorter Life Span - The Onion, October 13, 2008 "After looking at his investments, I calculated that he really shouldn't live a day over 62—or 59 if he wants a funeral." UK government outlines $63bn capital boost for troubled banks - New York Post, 13 Oct 2008 The UK government on Monday said it would inject as much as $63bn (€46.3bn) into three of the country’s biggest banks to bolster their balance sheets but demanded the resignation of some of the industry’s top executives in return G7 I grandi si muoveranno ciascuno per proprio conto, ma con «criteri condivisi» - Francesco Piccioni, il manifesto, 12 Ottobre 2008 Il documento del G7, «per ripristinare la fiducia», promette tutto a tutti. E in modo totale. Ossia l'impossibile. Le risorse degli stati, anche di quelli più ricchi, non sono infinite. Impossibile che non lo sappiano questo manipolo di neoliberisti che ha fatto di tutto, negli ultimi 20 anni, per svuotare il ruolo (e le casse) degli stati nazionali. Ora, improvvisamente, li fanno passare per onnipotenti. Qualcosa non torna, è evidente. Tutto diventa più chiaro se si nota come manchi qualsiasi riferimento alla necessità di sostenere l'economia reale, la produzione e l'occupazione. Questa parte del lavoro viene lasciata al «mercato» e alle sue leggi; per quella parte dove il «mercato» ha già fatto il suo lavoro, devastando il sistema bancario, lo stato deve invece mobilitare ogni residua risorsa. Anche quelle che non può avere Moneta di Stato, e subito - Maurizio Blondet, 07 ottobre 2008 «La paralisi dei mercati interbancari (le banche non si fanno più prestiti a vicenda, nemmeno per 24 ore) rivela il panico che domina oggi. Ciascuno si pone la domanda: che cosa vale la carta? Ora, questa domanda si coniuga in due fasi. Prima, ci si domanda: quanto vale la firma della mia controparte (il debitore). Dopo, si finisce per chiedersi: quanto valgono davvero l’insieme degli attivi soggiacenti?» CRISE FINANCIERE - Le film des événements : Histoire d’un actionnaire de Fortis (video) - L'Investigateur, 13/10/08 JUMP! YOU WALL STREET CRIMINALS - By Frosty Wooldridge, NewsWithViews.com, October 13, 2008 “So what’s the solution?” Interestingly enough, freezing Congress, the IRS, and the FED and shipping them to Antarctica would be a great start. Really! THE RAPING OF THE AMERICAN INVESTOR - By Joan Veon, NewsWithViews.com, October 13, 2008 The stage is now set for step two of the Paulson Punch: the adoption of the Treasury Blueprint for a Modernized Regulatory System. When implemented, the Federal Reserve, a private corporation, will take direct control of various pieces of America’s financial assets: the insurance system, the mortgage system, the Payment and Settlement System of Wall Street, and they will become the Market Stability Regulator. They will also transfer all credit unions, savings and loans, State chartered banks, and thrifts to their oversight Can Congress Bail Out of the Bailout? And what about the Fed's Even Larger Giveaway? - by Michael Hudson, Global Research, October 13, 2008 We are now entering the financial End Time. Bailout "Plan A" (buy the junk mortgages) has failed, "Plan B" (buy ersatz stocks in the banks to recapitalize them without wiping out current mismanagers) is fizzling, and the debts still can't be paid. That is the reality Wall Street avoids confronting Thursday evening update on the global financial collapse - Author: Bill Lindo, Belize News, 10/10/2008 "According to the most recent data for June 30, 2008 released today by the Office of the Comptroller of the Currency, the three largest American bank holding companies, JP Morgan Chase, Bank of America and Citicorp, had current outstanding derivatives contracts totaling $179.4 trillion dollars. The three banks combined have total assets of just under $5.6 trillion! Now do you see why the bail-out is not working? And can not work — there isn’t enough money in the world to cover all these virtual bets, and the efforts by the central banks to print that money, is fuelling a hyperinflationary bomb which will wipe out not only the remnants of the global financial system, but also the governments, national economies and the means of existence for most of the world’s population. Hyperinflation will destroy the value of the US dollar itself, wiping out pensions, savings, bank accounts, stock portfolios, and all other monetary values, bankrupting households, businesses and governments, leaving all the nation-states destroyed, and, effectively, no longer nation-states…”  Le banche centrali, attraverso "operazioni di mercato aperto" (manipolazioni), sostengono le borse...coi tuoi soldi. Soltanto delle menti particolarmente insane (o dei complici) possono pensare che sia meritevole salvare dal fallimento istituzioni finanziarie che creano continuamente false scritture contabili a danno della comunità (della RES PVBLICA). Carnevale in Cassazione. Falcone e Borsellino al cimitero - Marco Travaglio, 13 Ottobre 2008 Carnevale, in quelle telefonate intercettate, li chiamava - Falcone e Borsellino, i martiri dell'antimafia - "i Diòscuri", come se fossero Castore e Polluce. Li prendeva in giro, da morti. Diceva che erano "due incapaci, con un livello di professionalità prossimo allo zero". Chiamava Falcone "quel cretino", "faccia da caciocavallo" - cioè faccia da culo, detto molto chiaramente, è un modo di dire siciliano - e aggiungeva: "io i morti li rispetto, ma certi morti no". Falcone e Borsellino manco da morti, li rispettava Currencies Battle for Dirtbag Supremacy - by The Mogambo Guru, 10/13/08 "The Fed, on its own initiative, began passing out the cash. $49 billion last Wednesday alone went to the banks. That same day, the Fed lent $146 billion to investment firms. By the time people went home for the weekend, $410 billion had passed from the Fed to private firms. The money was lent, says the Bloomberg report, at about 2.25% interest." If you had spent one million dollars a day, from the birth of Christ until today, you would have only spent about 732 billion dollars... MERCATI: LE MISURE DEL NUOVO DECRETO ANTI-CRISI (SCHEDA) - ASCA, 13 ott Facoltà di intervento che può spingersi fino al commissariamento della banca ''in presenza di situazioni in grado di minare la stabilità complessiva del sistema finanziario'' New Wave of Class Actions Filed in Wake of Subprime Collapse - Peter Page, The National Law Journal, October 13, 2008 The subprime mortgage collapse has triggered a wave of class actions by angry shareholders who allege that Fannie Mae, Freddie Mac and underwriters cloaked the true financial health of the two mortgage giants. Recent lawsuits target a range of defendants, including Morgan Stanley, Merrill Lynch, Goldman Sachs, UBS Securities and Wachovia Capital Markets. The class actions are likely to incite even more litigation by wealthier individual and institutional investors Wachovia to Pay $178 Million to Settle RICO Class Action - Shannon P. Duffy, The Legal Intelligencer, October 13, 2008 Wachovia Bank has agreed to pay more than $178 million to settle a class action RICO suit that accused the bank of allowing two telemarketing firms to swindle elderly victims through the use of "remotely created checks." The proposed settlement replaces a previous $125 million settlement between Wachovia and the DOJ's Office of the Comptroller of the Currency, which drew criticism from plaintiffs lawyers and a trio of Congress members because it would have required victims of the scheme to file claim forms [Il ricatto delle banche: possono distruggere i posti di lavoro in 24 ore] Mass Layoffs at Heller Ehrman - Niraj Chokshi, The Recorder, October 13, 2008 At least 100 Heller employees were laid off by e-mail Friday, without receiving the 60 days' wages required by federal law or accrued vacation due under California law, leaving even those remaining expressing confusion and concern. According to the e-mails from the dissolution committee, the firm's banks -- Bank of America and Citibank -- forced the layoffs of "many employees." [.'.] A COSA SERVE LA CRISI FINANZIARIA ? E A CHI GIOVA ? - Comedonchisciotte, 13 Ottobre 2008 Nessun partito, da destra a sinistra, salvo pochissime eccezioni, ha sollevato il problema. Neanche i paladini dei poveri come Rifondazione Comunista lo hanno fatto; né i paladini del nazionalismo e della forza dello stato, lega e AN, hanno denunciato questo stato di cose. Perché la parole d’ordine della politica è occuparsi di temi solo secondari, dall’aborto ai Pacs. Ma mai, in nessun caso, occuparsi della banche (che poi significherebbe risanare il bilancio dello stato e evitare il crack economico e finanziario) US Presidential elections: The Theft of 2008 (video) - Greg Palast, BBC, Oct 13, 2008 How to 'fix' democracy.... State to Save HBOS and RBS - John Waples and Iain Dey, The Times, October 12, 2008 British bank rescues may close London market on Monday Where Do We Go From Here? - by John Mauldin, October 11, 2008 Before cargoes can be loaded at port, buyers typically must produce proof they are good for the money. But more deals are falling through as sellers decide they don't trust the financial institution named in the buyer's letter of credit, analysts said. We are close to the point of no return. Now, we are not talking about bailing out financial institutions. We are literally talking about saving the world economic system. Failed bank lending and a large decrease in letters of credit would guarantee a deep world recession. The last depression produced severe political backlash and a world war Anatomy of the American Financial Crisis: How It is Turning into a Worldwide Crisis - by Prof. Rodrigue Tremblay, Global Research, October 12, 2008 With many banks' solvency now in doubt, inter-bank lending has nearly stopped, and because of a 'flight to safety', the Ted spread [the difference between three-month U.S. Treasury bills yields and yields on three month eurodollar contracts, as represented by the London Inter Bank Offered Rate, called Libor] exploded, and banks cut down their lending The Next Derivatives Bloodbath: Insurance Companies and Auto Makers - by George Washington's Blog, Global Research, October 12, 2008 [signoraggio-men] Geronzi vuol dire fiducia - Beppe Grillo, 12 Ottobre 2008 Cesare Geronzi, 72 anni, è coinvolto in numerosi casi giudiziari: Parmalat - Eurolat (usura aggravata, estorsione, bancarotta), Crack Cirio (frode), Crack Italcase (bancarotta) e Caso Telecom (frode fiscale). Cesare Geronzi è presidente del consiglio di sorveglianza di Mediobanca (il crimine rende eccome!)  Bank rescue plan to test capitalism - By Michael A. Hiltzik and Ken Bensinger, Los Angeles Times, October 12, 2008 The government's plan to take stakes in financial institutions could backfire, some analysts say. Proponents say it's an efficient solution Secrets of the Bank of England Revealed at Last !! This monetized debt scam that the Bank of England started in 1694 was copied exactly by the "Federal" Reserve Bank system in the U.S. (and lately by the European Central Bank). It seems that the usurers have absolutely no originality or creativity even with all the brains their ill-gotten gains enables them to buy. "There is something so consummately ridiculous in the idea of a nation's getting money by paying interest to itself upon its own stock, that the mind of every rational man naturally rejects it. It is, really, something little short of madness to suppose, that a nation can increase its wealth; increase its means of paying others; that it can do this by paying interest to itself. When time is taken to reflect, no rational man will attempt to maintain a proposition so shockingly absurd" - William Cobbett, M.P. WHEN CREDIT MARKETS FREEZE .... CASH BECOMES KING - RMNews, 11 October 2008 Without a doubt the banksters and brokers would be very traumatized by a permanent derailment of the "credit markets". They would have to find real jobs. They would be pushing for multi-trillion dollar bailouts from world government to get the old scam rolling again. Oh wait, they are already doing that! The Death of a statesman. How a Target Killing is Spun as "accident" by the Media. Part II - Rumormills News, 12 October 2008 Dr.Joerg Haider would have become the new chancellor of Austria [clearstream] Denis Robert encore très exposé - Le Post, 10/10/2008 Le prochain procès de Denis, c'est le 16 octobre. Ce n'est pas à lui qu'ils en veulent particulièrement, non, lui ou un autre… M'enfin, ce n'est pas un hasard si c'est tombé sur lui. « C'est une manière de dresser un cordon de sécurité autour de moi, qu'on ne m'imite pas, qu'on me lâche… ». Et puis, « ce qui se propage est beaucoup plus inquiétant pour eux, car la presse n'explique pas la crise. Tout est bidonné, on paye 30 années de rapacité des financiers. On est au tout début du tunnel. »  Denis Robert scoprì, nelle centrali di clearing, i canali del riciclaggio della rendita monetaria effettiva IMF warns of world financial system 'meltdown' - By Edmund Conway, The Telegraph, 12 Oct 2008 International Monetary Fund warns world financial system stands on the "brink of systemic meltdown", despite international efforts. The G7 – which also includes Japan, France, Italy and Canada – is open to start buying bank shares with taxpayers’ cash (usano gli ultimi soldi dei contribuenti per comprare spazzatura...) Financial crisis: If you thought the worst was over think again - By Dan Roberts, Telegraph, 12 Oct 2008 No matter how secure one’s personal finances, it is impossible not to feel a frisson of panic at the thought that bank ATM machines might run out of cash, or pay-cheques might vanish into the ether: both very real prospects until the Government stepped in to underwrite the bank clearing system on Tuesday. Even now, there are scenarios so destabilising they are barely mentioned. Friday also exhibited many of the hallmarks of what market historians call “capitulation” – the moment when even the optimists lose hope  Golden Gate Bridge to get net to catch suicides - Reuters, Oct 10, 2008 Bankruptcy, Theft & Fear - Commentary By Dick Eastman, rense.com, 10-11-8 The Fed has kept M1 money supply tight even as it has hidden M3 which measures the money used by the elites in their international transactions. Thus the people have experienced a bust (a depression) while those on the Elite Loop have had plenty of purchasing power to buy up all of the foreclosed properties and all of the the businesses going under in this artificially created downturn. They are simply providing money to the bankers so they can buy the distressed assets and so that they will get piped oxygen while the rest of us are smothered under the pillow -- but none of their oxygen will get to us Alistair Darling calls for world’s financial leaders to take decisive action - The Times, October 11, 2008 A frenzied day of panic selling on stock markets across the world capped a week of extraordinary financial mayhem in which £2.7 trillion was wiped off the value of shares globally Financial crisis: Countries at risk of bankruptcy from Pakistan to Baltics - By Ambrose Evans-Pritchard, Telegraph, 10 Oct 2008 A string of countries face the risk of "going bust" as financial panic sweeps Asia, Eastern Europe, and Latin America, raising the spectre of a strategic crisis in some of the world's most dangerous spots The Party Is Just Beginning - By Randolph Buss, rense.com, 10-10-8 Derivatives Are 16x World's Entire GDP (without taking into account debt-masked-currencies: derivatives of derivatives...) Meridian Bank, Eldred, Illinois - By Tony, The Bank Implode-o-Meter, October 10th, 2008 Meridian Bank, of Eldred, Illinois, was closed by regulators today, the 15th to fail this year, as amid tightening credit and a deepening housing slump Berlusconi Says Leaders May Close World's Markets - By Steve Scherer, Bloomberg, Oct. 10, 2008 Italian Prime Minister Silvio Berlusconi said political leaders are discussing the idea of closing the world's financial markets while they "rewrite the rules of international finance.'' The Woman Greenspan, Rubin & Summers Silenced - by Katrina vanden Heuvel, The Nation, 10/09/2008 In 1997, Brooksley Born warned in congressional testimony that unregulated trading in derivatives could "threaten our regulated markets or, indeed, our economy without any federal agency knowing about it." Born called for greater transparency--disclosure of trades and reserves as a buffer against losses George Soros' Interview - October 10, 2008 GEORGE SOROS: The financial system is teetering on the edge of disaster INTEL SERVICES & ELITE EMPLOY ASSASSINS TRAINED IN AUTO ACCIDENTS - I MARRIED ONE OF THEM! - Posted By: Rayelan, 11 October 2008 There are many (not right wing) people here who don't believe this was an accident Police say Austrian rightist Haider dead at 58 - By VERONIKA OLEKSYN, Associated Press Writer , Oct 11, 2008 Just two weeks ago Haider had said in a widely broadcasted TV interview that the banking mafia has to be abolished, because they sell toxic financial products to the unsuspecting people   i'm sick and tired of hearing things from uptight-short sighted- narrow minded hypocritics all i want is the truth just give me some truth - John Lennon, Gimme Some Truth Italia pronta a presentare piano globale per riforma finanza - Reuters, 11 ottobre 2008 Verà divulgato a cose fatte come sempre o per una volta si sentirà anche l'opinione pubblica? La Bretton Woods del premier-broker tra discoteca e bufale smentite da Bush - di Raffaele Deidda, L'altra voce, 11 Ottobre 2008 Di sospendere i mercati “per il tempo necessario per scrivere le nuove regole”, come ipotizzato da Berlusconi, nessuno si è però mai sognato di parlarne (un segreto è un segreto). Tanto che uno stizzito portavoce della Casa Bianca, commentando le dichiarazioni di Berlusconi, poi (ovviamente) smentite con la giustificazione che si era trattata di una pura ipotesi “come quella di chi dice sospendiamo Basilea 2”, sulla sospensione dei mercati ha detto che Washington non ha mai pensato di interferire con il funzionamento dei mercati americani Tremonti: Italia salvera' tutte le banche - ANSA, 2008-10-11 Giusto, così tocchiamo subito il fondo e poi ripartiamo, ma con le banche al popolo però. Tidal Wave of Foreclosures Will Force Bankruptcy Reform - By Renuka Rayasam, Associate Editor, The Kiplinger Letter, October 10, 2008 Bankruptcies will continue rising, and an increasing number of people will lose their homes to banks. In the first half of 2008, banks foreclosed on 1.2 million homes, and this is expected to rise even higher than the 2007 figure of 1.5 million homes as more and more homeowners lose jobs and become saddled with bills they can't pay (chi ha avuto, ha avuto, ha avuto...) [global default in sight] The Next Meltdown: Credit-Card Debt - Business Week, October 9, 2008 Rising rates are accelerating credit-card defaults and soured debt could further undermine the financial system (don't worry about your debts, nobody will pay anymore after the system crash) All that money you've lost — where did it go? - By ERIC CARVIN, Associated Press Writer, Oct 11, 2008 "You can't enjoy the benefits of your 401(k) if it's disappeared," Jorgenson explains. "If you had it all in financial stocks and they've all gone down by 80 percent — sorry! That is a permanent loss because those folks aren't coming back. We're gonna have a huge shrinkage in the financial sector." (But the central bank can quickly create - out of your purchasing power - new money to give to friends of friends...) Restaurant employs monkeys as waiters - Ananova, Oct 9, 2008 Con le scimmie però non regge la truffa della moneta-debito...si fanno pagare in natura The Party is Over - Peter Schiff, 321gold, Oct 11, 2008 More than just a mere liquidity or credit crisis, the current financial storm represents the death throes of the old global economic order, and perhaps the birth pains of a new one. The sun is setting on the borrow and spend culture that has defined us for a generation. Our long ride on the global gravy train is finally coming to an end, and once it does nothing will be the same. The sooner we come to grips with this the better Is the Federal Reserve Engaged in Acts of Economic Warfare Against America? - by: Mike Adams, Natural News, October 08, 2008 Today, the Federal Reserve is engaged in an eerily similar operation, counterfeiting trillions of dollars in U.S. bank notes and flooding the U.S. money supply with money created from nothing. The result, of course, is the same as was intended by Operation Bernhardt in 1942: The economic destruction of the target nation. Only this time, the target is the United States of America (the same can be told about the European Central Bank acting against the interests of the european people) Executive Salaries - Oct 10, 2008 DA WALL STREET ALLA STRADA - di Barry Eichengreen, Trend Online, 11.10.2008 Trilateral Commission Membership Do you wonder who is currently a member of the Trilateral Commission? You should, because it's their New International Economic Order that is bringing us financial and political chaos. See how many references you can find for Goldman Sachs. (among the european members you will find: Enrico Tomaso Cucchiani, Enrico Letta, Pietro Modiano, Mario Monti, Luca Cordero di Montezemolo, Carlo Pesenti, Alessandro Profumo, Luigi Ramponi, Gianfelice Rocca, Ferdinando Salleo, Silvio Scaglia, Paolo Scaroni, Carlo Secchi, Maurizio Sella, Stefano Silvestri, Marco Tronchetti Provera, Franco Venturini) G7 nations pledge to fight crisis - BBC, 10 October 2008 The plan is intended to protect major banks and financial institutions from failure and ensure they can raise capital from public and private sources to lend it back to them at interest...the idea is to grant the monopoly privilege of the private-money-as-debt cartel as long as possible (i.e. until the people wake up) Convert Currencies into Gold and Silver, convert Gold and Silver into currencies (calculator) Le code al bancomat - Beppe Grillo, 10 Ottobre 2008 Chi ha comprato un’azione ha dato i suoi risparmi a un’azienda in cui riponeva la sua fiducia. E’ lui che perde i soldi, non l’azienda. Stiamo assistendo a un gioco al massacro. Falliranno le famiglie, non le banche. I soccorsi alle banche li pagano i cittadini Run On The System: Black Friday - MIKE WHITNEY, COUNTER PUNCH, October 10, 2008 Too much time has been wasted on Paulson’s failed bailout for G-Sax and his friends on Wall Street. Buying the bad assets of underwater banks does not fix the problem US: Reserve Requirements of Depository Institutions - Federal Register: October 9, 2008 (Volume 73, Number 197) Interim final rule; request for public comment US Criteria for Foreign Bribery - Cryptome, 10 October 2008 Report on the Criteria and Methodology for Determining the Eligibility of Candidate Countries for Millennium Challenge Account Assistance in Fiscal Year 2009 The S&L Crisis: A Chrono-Bibliography - Cryptome, 9 October 2008 This material was been removed from the FDIC web site since 8 October 2008, formerly at: http://www.fdic.gov/bank/historical/sl/ 10/10/08 - Targeting the Steady Inflation of Losses - by The Mogambo Guru "Jean-Claude Trichet is purposely causing inflation! This is insane! This is beyond insane! This is the work of the anti-Christ! The purpose of a central bank is to prevent inflation, and to make sure that inflation is always, always, always zero!"  Antichrist finally unveiled: Jean-Claude TrichEUR Crisi finanziaria, etica e di credibilità - Daniele Martinelli, Ottobre 10th, 2008 Ex bancario si rovina in Borsa e diventa rapinatore - Il Messaggero, 10 ottobre 2008 Aveva perso 70 mila euro in Borsa, non sapeva più che fare, e da ex bancario è diventato rapinatore di banche. In Italia i bancari sono circa 320.000...speriamo non ne licenzino troppi, a questo punto [verso lo zero assoluto] BORSA: NUOVO SCIVOLONE (-6, 54%), -21% IN SETTIMANA NERA - AGI, 10 ottobre 2008 La Borsa chiude con un nuovo, pesantissimo ribasso, una settimana di record negativi: l'indice Mibtel oggi ha perso un ulteriore 6,54% Napolitano chiede di entrare in modalità "tutto-quasi-bene-madama-la-marchesa" - venerdì nero, 10 ottobre 2008 "Il mondo è pieno di gente che si pronuncia su argomenti di cui non sa nulla" - Peter Hoeg Riscrivere le regole - L'espresso, Massimo Riva, 10 ottobre 2008 La trasparenza si impone oggi come l'unica via percorribile per chiunque intenda ristabilire la fiducia pubblica nelle attività finanziarie. Il caso Unicredit insegna BANGKOK-Police throw bombs into a 30,000 strong crowd - 8/10/2008 As we watch the result of our western banking system of credit bring us to our kness, one must wonder what the motivation behind the behaviour of the thai police was yesterday when they hurled grenades into a 30,000 crowd strong crowd, in theory to assist in dispersing them Kucinich’s Main Street Recovery Plan (This plan includes programs on the following 16 points, abbreviated here) 1. Health Care for All and Medicare for All 2. Prescription Drug Benefit for Seniors 3. Stop the Oil Companies’ Price Gouging 4. Protecting the American Homestead 5. Jobs for All 6. American Manufacturing Policy 7. Works Green Administration 8. Fair Trade 9. Education for All 10. Protecting Pensions 11. Social Security 12. Protect Bank Deposits 13. Protect Investors 14. Strength through Peace 15. Safety in America 16. Monetary Policy: It is long past the time that we looked at the implications of our debt based monetary system, the privatization of money created by the 1913 Federal Reserve Act, the banks fractional reserve system and our debt-based economic system. Unless we have dramatic reform of monetary policy, the entire economic system will continue to accelerate wealth upwards. I am currently working on drafting legislation for an 'American Monetary Act' to address these and other issues in order to protect the economic wellbeing of America. - Congressman Dennis Kucinich Methods for Estimating the Price of Gold - By: Mike_Hewitt, The Market Oracle, Oct 10, 2008 There are several different approaches to calculating a theoretical price for gold. The purpose of this essay is to calculate this figure using two different methods Panic selling grip investors as global equities routed - By Natsuko Waki, Reuters, Oct 10, 2008 Equity trading in Russia, Iceland, Romania, Ukraine and Indonesia has been halted while nearly half of Milan stocks are suspended for excessive losses [verso l'insorgenza globale] Sheriff in Chicago halts foreclosure evictions - Reuters, Oct 9, 2008 The sheriff of the third-most populous U.S. county halted evictions on foreclosed properties on Thursday, saying innocent tenants were being put on the street Former CEO and CFO of Duane Reade Charged With Securities Fraud - Larry Neumeister, The Associated Press, October 10, 2008 The former chief utive and chief financial officer of Duane Reade, the New York area's largest drug store chain, were indicted Thursday on charges of exaggerating the company's income by millions of dollars. Anthony Cuti and William Tennant were charged in federal court with securities fraud, making false entries in books and records and making false statements to the Securities and Exchange Commission and auditors. If convicted of the most serious charge, the men could face up to 20 years in prison Former Gen Re Lawyer Could Face Life in Prison - Sue Reisinger, Corporate Counsel, October 10, 2008 Robert Graham, a former senior lawyer at General Re Corp., faces life in prison for doing what his defense attorney calls a "few hours work" on a fraudulent deal. Prosecutors want to sentence Graham to a "substantial" term -- up to 230 years behind bars -- because more than 250 American International Group investors lost at least $544 million from the fake deal with Gen Re  Did JPMorgan Chase Make Itself a Target in Fights Over Lehman Funds? - David Bario, The American Lawyer, October 10, 2008 When JPMorgan Chase & Co. removed funds from accounts it maintained for three Lehman Brothers units just hours before they filed for bankruptcy last Friday, it frustrated dozens of plaintiffs who had targeted millions of dollars in those units -- and may have exposed JPMorgan to possible litigation over the Lehman funds. Said a lawyer for one of the plaintiffs, "What the rest of us were trying to do in court, J.P. Morgan just did on its own." Nature loss 'dwarfs bank crisis' - By Richard Black, BBC News,10 October 2008 Losses are great, and continuous, says the report. The global economy is losing more money from the disappearance of forests than through the current banking crisis, according to an EU-commissioned study Une affaire de menteurs, d’incapables et de cata toujours possible - L'Investigateur, 09/10/2008 S’il y a une banque au Luxembourg dont la situation est des moins claires et dont on souhaiterait voir un état des lieux des participations autant que des engagements, c’est bien la BCEE, dont la gestion n’a jamais été et n’est aujourd’hui toujours pas au-dessus de tout soupçon Ho 30 anni, un master e non trovo lavoro. Sai che me ne frega della crisi dei mercati finanziari - Pubblicato da Tiziano Scolari, Schegge di Vetro, 10 ottobre 2008 Gli istituti finanziari cercano di fregarti perché quello che perdi tu è quello che ci guadagnano loro (questo uno dei concetti alla base dei derivati, definiti da uno degli ospiti di Santoro: giochi a somma zero, loro ci guadagnano quanto tu perdi) Financial Crisis: Extreme leverage haunts Europe's banks as rollover crunch looms - By Ambrose Evans-Pritchard, Telegraph, 10 Oct 2008 Europe's credit markets have continued to seize up on mounting fears that the region's banks may fail to roll over $700bn (£405bn) debt falling due in coming months Libor Holds Central Banks Hostage as Credit Freezes - By Gavin Finch and Ben Sills, Bloomberg, Oct. 9, 2008 Axa Investment Managers, a unit of Paris-based Axa SA, sent out an updated list of acceptable counterparties to about 50 of the firm's most senior investors and traders. The memo, obtained by Bloomberg News, barred all new trading with Royal Bank of Scotland Group Plc and ABN Amro Holding NV, even if the dealings were backed by collateral Mutual Fund Withdrawals a Record as Investors Flee - By Sree Vidya Bhaktavatsalam, Bloomberg, Oct. 9, 2008 Investors pulled a record $52.1 billion from U.S.-managed stock and bond mutual funds in the past week, seeking the safety of government-insured bank deposits as the financial crisis worsened [online banking may be frozen] Britain to sue Iceland over frozen funds - By Christopher Hope, James Kirkup, and Jon Swaine, The Telegraph, October 9, 2008 Gordon Brown has described the behaviour of the Icelandic government following the bank collapses as "totally unacceptable," adding that the Government was considering legal action. The Prime Minister is furious that 300,000 bank customers are blocked from accessing deposits in online bank Icesave... Le banche materasso - Beppe Grillo, 9 Ottobre 2008 Le aziende sono in asfissia economica. Le banche non gli danno più credito e questo, in Italia, significa la fine (però se le PMI scopriranno che possono provvedere col credito reciproco...) 10/09/08 - Gobbled Up by the Giant Derivatives Monster - by The Mogambo Guru "Payback time for Wall St and Washington will be when foreign investors fail to turn up at the bond auctions to finance the bailout plan, whose $800+ billion will have to be created out of thin air. So the bonds will have to be monetized, which will mean an immediate spike in inflation, which will cause the rate of corporate bankruptcies to soar as failing companies take down others in a chain reaction because the losses will be highly leveraged by credit default swaps etc. This is the underlying reason why banks won't lend to each other - they can't calculate the counterparty risk. All of this will set off a massive derivatives meltdown that will bring the whole system crashing down." Bernanke, Paulson Seek Global Help as Crisis Spreads - By Rich Miller and Simon Kennedy, Bloomberg, Oct. 9, 2008 “From now on, depressions will be scientifically created.” - Congressman Charles A. Lindbergh Sr., following the passage of the Federal Reserve Act in 1913 Borsa: Wall Street, il Dow Jones chiude a -7,33% - ANSA, 09-10-2008 Crollo Wall Street per sesta seduta consecutiva SOURCE LAYS OUT SCENARIO OF WHAT MARKET MELTDOWN WILL LOOK LIKE - Posted By: Rayelan, 9 October 2008 Criminal Prosecutions Predicted to Surge Over Financial Crisis - Noeleen G. Walder, New York Law Journal, October 9, 2008 With public anger reaching a boiling point over plunging stock prices and Wall Street "greed," white-collar defense attorneys are preparing for an inevitable surge in criminal prosecutions. Some defense attorneys say they are confident that prosecutors will act responsibly, but other lawyers are concerned that the current climate could affect investigations. "If we saw hostility in [the] Enron climate, we are going to see hostility by a magnitude of tenfold" here, says attorney Mark C. Zauderer Bankers Still See Law Firms as Good Credit Risks - Janet L. Conley, Fulton County Daily Report, October 9, 2008 While credit markets are tightening, law firms needing to borrow money are still experiencing relatively easy access to cash. However, some banks are increasing their scrutiny of firm loans, attaching more covenants and conditions and looking ahead to how well firms can collect their receivables. According to some bankers and consultants, a lag in collection time is pushing firms to borrow more money, increase holdbacks on partner compensation and, perhaps, decrease overall profit distributions How to Defend Against Wave of Expected Indictments - Julie Triedman, The American Lawyer, October 9, 2008 The bailout has introduced new liability for corporate officers and directors in the mortgage-backed securities and collateralized debt obligations markets, according to DeMaurice Smith of Patton Boggs's government investigations and white-collar practice group. Companies should be reviewing statements and communications before government investigators step in. With legal actions certain to multiply in the coming months, Smith is advising his clients to look to their indemnity agreements with companies BEHIND THE PANIC: Financial Warfare over future of global bank power - by F. William Engdahl, October 9, 2008 "As one senior European banker put it to me in private discussion, There is an all-out war going on between the United States and the EU to define the future face of European banking..." ANCHE 'LA CASTA' E' GLOBALE - Mariachiara Ricciuti, AgenParl, 9 Ottobre 2008 La Casta non esiste solo in Italia. Il malcostume di chi approfitta di un posto di responsabilità per arricchirsi e godere di benefit illimitati è un male che affligge un po' tutti, compresa la 'democratica' America As Markets Plunge, Law Firms Comfort Nervous Associates - Karen Sloan - The National Law Journal, October 8, 2008 Heller Ehrman has called it quits. The credit crunch is putting the brakes on major projects, drying up some areas of legal work. Layoffs have hit top-name firms. What's a law firm to do about nervous partners and associates who are waiting for the other shoe to drop? I conti correnti sono DAVVERO garantiti? Due mezze verità somigliano molto ad una bugia - Pietro Cambi, CRISIS, 7 ottobre 2008 Oms: attenzione ad alcol e suicidi - Il Messaggero, 9 ottobre Ma attenzione, «non stiamo parlando dello speculatore di borsa che ha perso tutto e che si butta dalla finestra», ha precisato Benedetto Saraceno Direttore del Programma Salute mentale dell'Oms... Wall Street diventa negativa, e l'Europa affonda - RaiNews24, 9 ottobre 2008 Raffica di sospensioni per eccesso di ribasso nel finale di seduta di Piazza Affari. I titoli fermati sono Intesa SanPaolo (-5% teorico), Enel (-6,2% teorico) e Bpm (-3,3 teorico) Nuovo sciacquone in borsa: la banca Morgan Stanley in picchiata a -25% - MF, 09/10/2008 Crisi mutui: Berlusconi a italiani, non vendete azioni - ANSA, 9 OTT 2008 Molto divertente, davvero Belgique /Luxembourg / Vente de Fortis : quand banquiers et gouvernements entubent les petits actionnaires - L'Investigateur, 08/10/2008 La chute de Fortis a appauvri un demi million de Belges Fmi: ''Siamo sull'orlo della recessione globale, nessun paese è immune'' - Adnkronos/Ign, 9 ottobre 2008 Il direttore del Fondo monetario internazionale Strauss-Kahn lancia l'allarme: ''Agire rapidamente e in modo coordinato'' Crisi banche: Ciampi scende in campo, siamo al sicuro - repubblica.it, 9 ottobre 2008 "siamo" chi? Zimbabwe inflation hits new high - BBC News, 9 October 2008 Zimbabwe's annual inflation rate - already the world's highest - has soared to 231,000,000%, newly released official figures for July show U.S. considers taking ownership stake in banks - By Martin Crutsinger, Associated Press via Yahoo News, October 8, 2008 Paulson said the financial market turmoil has hurt the economy, but he said the administration is moving quickly to begin the largest financial system rescue effort in history... (quick, call Supertaxpayer!) Margin calls loom for treasuries: ThomWatch - Thom Calandra, 10/8/2008 “Real (inflation adjusted) interest rates are negative. Why would anyone hold dollars, other than their immediate need for living expenses? As I describe it, the dollar is on the path to the fiat currency graveyard. The dollar has bounced because things look so bad in the euro all of a sudden, and hot money is sloshing around looking for a safe home. More and more of it will end up in gold.” CMRE dinner meeting next week examines the financial disaster - gata.org, 2008-10-09 Who will bail out the euro? - By Ambrose Evans-Pritchard, The Telegraph, October 8, 2008 This is a very dangerous set of circumstances for monetary union. Will we still have a 15-member euro by Christmas? SALVA-MANAGER: DI PIETRO, TREMONTI DOVEVA GIA’ ANDARE VIA - AGI, 9 ottobre 2008 “Oggi a carte scoperte - dice - quando sono stati presi con le mani nel sacco, Tremonti dice o va via la norma o vado via io. Tremonti dovrebbe essersene gia’ andato perche’ la norma l’ha scritta lui” (L'emendamento salva-maiali-più-uguali era stato approvato in aula al Senato, su proposta dei due relatori del provvedimento, i senatori del Pdl Antonio Paravia, relatore per la X commissione e Angelo Maria Cicolani, relatore per l'VIII commissione.) Il capo delle ferrovie russe dice: io lo sapevo, fu LaRouche ad avvertirmi - Movixol, 7 ottobre 2008 Alla domanda dove dovrebbero andare le cose, egli ha risposto: “Verso la formazione di un nuovo paradigma economico. Iniziamo con il mondo intero. Intendo veramente tutto il mondo e costruiamo e applichiamo una nuova teoria economica. Spero che alla fine capiremo che non si può vivere con i surrogati finanziari, che tutto il mondo non può vivere per un’unica valuta che non è supportata da niente, chiamato dollaro.” I governi sovrani sono all’ordine del giorno - Movixol, 9 ottobre 2008 Gli sviluppi degli ultimi giorni, ha scritto la signora LaRouche, dimostrano che “solo stati sovrani sono in grado di intervenire in una crisi sistemica”. E’ dunque della massima urgenza che i governi nazionali agiscano ora per sottoporre il sistema finanziario ad una procedura di riorganizzazione fallimentare e per dare vita ad una nuova architettura finanziaria Il Saturday Night Live mette a nudo il piano Paulson - MoviSol, 7 ottobre 2008 Crisi mercati/ Tremonti: Nessuna banca fallirà, no tutele manager - APCOM, 9 ottobre 2008 Lo Stato si farà garante anche sui depositi affiancando la sua protezione a quella attuale del fondo interbancario (come avevamo anticipato, si dimostra che il Fondo Interbancario di Tutela era un bluff) US warns of further bank failures - BBC, 9 October 2008 The US treasury secretary has warned some banks will still fail despite the $700bn (£406bn) rescue package to shore up the financial system US debt clock runs out of digits - BBC, 9 October 2008 The US government's debts have ballooned so badly the National Debt Clock in New York has run out of digits to record the spiralling figure  Until last month, the clock had enough digits to measure US seigniorage-debt levels [buco nero] Nato chiede più soldi nonostante crisi finanziaria - Reuters, 9 Ott 2008 I membri della Nato devono aumentare le spesi militari, anche se la crisi finanziaria globale rischia di distogliere gli interventi economici. Lo ha detto il segretario generale dell'Alleanza, Jaap de Hoop Scheffer 10/08/08 - Reserving the Right to Destroy the Dollar - by The Mogambo Guru "To show you that the Federal Reserve should instead be called the Government Slush Fund (GSF), the government borrowed most of this new money, as we realize when we see that Treasury Gross Public Debt went up by an eye-popping $336 billion last week…" "To the Bunkers!": Central banks slash rates in emergency "midnight" meeting - by Mike Whitney, Global Research, October 9, 2008 The United States is headed into another Great Depression and has probably dragged the rest of the world along with it. The global financial system will look very different by the time we reach the other end of the tunnel [verso l'insorgenza] Thousands of Troops Are Deployed on U.S. Streets Ready to Carry Out "Crowd Control" - By Naomi Wolf, AlterNet. Alternet, October 8, 2008. Members of Congress were told they could face martial law if they didn't pass the bailout bill. This will not be the last time UK bank rescue plan announced: nationalization - RTE News, 8 October 2008 Le banche italiane sono solide: non e' vero! - Laura Simionato, 7 ottobre 2008 Le richieste disperate di fiducia dei banchieri, continuano a imperversare su giornali e telegiornali. Le banche non si fidano tra di loro perché non si prestano i soldi a vicenda sull’Interbancario e quindi mi chiedo perché mai noi cittadini, che non contiamo nulla, dovremmo continuare ad avere fiducia nel sistema, perché dovremmo continuare a prestare i soldi alle banche comprando le obbligazioni o sottoscrivendo i loro prodotti finanziari, perché mai non dovremmo prelevare tutti i soldi dal conto e tenerceli a casa al sicuro, perché proprio noi che alle banche tanto diamo e mai riceviamo dobbiamo per primi continuare a credere ? (il governo dovrebbe organizzare una task-force di liberi pensatori per elaborare un credibile cambiamento di paradigma) [tutti-contro-tutti] Unicredit accusa le banche locali: "Atti di sciacallaggio a Treviso" - La Tribuna di Treviso, 09-10-2008 «Portate il conto da noi, Unicredit sta per fallire». Ora c'è la corsa a scegliere la banca meno fallita....Subito dopo, appena realizzeranno, la corsa agli sportelli. Ormai la nazionalizzazione degli istituti di credito in Europa sembra la corsa preferenziale - nonché l'unica via - per tutelare i consumatori  Unicredit: ieri il minimo storico - 12,5 - ZipNews, 09-10-2008 La crisi a Torino colpisce moltissime famiglie che non riescono più a pagare il mutuo (ma il governo si preoccupa solo dei soci occulti dela piramide bancaria). Lo stipendio dell'amministratore delegato di Unicredit è cresciuto del 39 per cento (9 milioni 426mila euro) e il valore di mercato delle azioni Unicredit è sceso del 17 per cento. Alla faccia del merito Islanda: completata la nazionalizzazione delle banche - La Stampa, 9 ottobre 2008 Il Governo islandese ha acquisito il controllo della Kaupthing Bank hf, la più grande banca del Paese. Con questa manovra di fatto si completa l'operazione di nazionalizzazione del settore bancario crollato sotto il peso del debito estero (nazionalizzando le banche, il debito pubblico diventerebbe automaticamente inesigibile) Tremonti: "Via l'emendamento salva-manager oppure mi dimetto" - La Stampa, 9/10/2008 E' bufera sulla norma inserita nel decreto per Alitalia che cancellerebbe i processi per i grossi crac. Il ministro dell'Economia: «Va soppressa subito» New World Order: Global co-operation, nationalisation and state intervention - all in one day - By Lindsay McIntosh, The Scotsman, 09 October 2008 A futile bailout as darkness falls on America - By Paul Craig Roberts, Daily Times, October 08, 2008 Since Paulson's bailout of his firm and his financial friends does nothing to lessen the default rate on mortgages, how will the bailout play out?  BORSE: MOSCA APRE IN FORTE CALO, MICEX -13% - La Repubblica, 08/10/2008 BORSA TOKYIO: PEGGIO DI COSI'... - Finanza in Chiaro, 08/10/2008 L'indice Nikkei della Borsa di Tokyo è crollato oggi del 9,38%. La borsa di Giakarta è stata sospesa a - 10,3% Il governo garantisca i risparmiatori - Antonio Di Pietro, 6 Ottobre 2008 (e qualcuno, poi, garantisca il governo...) Yankees Go Home - Beppe Grillo, 7 Ottobre 2008 Gli Stati Uniti, di fronte a questo disastro finanziario, dovrebbero fare come la Germania nazista sconfitta e costretta a pagare i debiti di guerra e corrispondere i debiti di PACE alle nazioni che ha messo in ginocchio BANCHE: GLI ISTITUTI CON INDICI PATRIMONIALI SOTTO LA SOGLIA DI SICUREZZA - di WSI - Il Sole 24 Ore, 6 Ottobre 2008 UniCredit non è la sola banca ad avere un Core Tier 1 ratio inferiore alla soglia di sicurezza imposta da Banca d'Italia. A rischio anche Intesa Sanpaolo, Monte dei Paschi di Siena e Banco Popolare Il mercato si chiede se dare credito a Unicredit - FTA Online News, 07/10/2008 (Bella domanda: in effetti siamo noi a dar credito alle banche e, per punizione, paghiamo gli interessi) Crisi mutui, Berlusconi non esclude G8 straordinario - Reuters, 7 ottobre 2008 (Ordine del giorno: evitare il panico a qualsiasi - qualsiasi - costo. La situazione è grave ma non è seria. Hanno un poker in mano purché nessuno chieda di vederlo....) Sovereign Governments Are The Order of the Day - by Helga Zepp-LaRouche, Executive Intelligence Review, October 10, 2008 The developments of the past few days prove that only sovereign states are capable of acting in a systemic crisis. It is, therefore, of the utmost urgency, that governments, as sovereign representatives of their respective nations, help to put the old financial system through a regular bankruptcy procedure, and to erect a new financial architecture Franklin Said: 'A Republic, If You Can Keep It'; We Didn't - by John Hoefle, Executive Intelligence Review, October 10, 2008 The Founding Fathers understood that progress of mankind depends upon human creativity; the minds of the people are humanity's most precious asset, and therefore the people must be protected and nurtured. This is the opposite of the oligarchic model, which treats people as cattle LaRouche Presents Program For World Economic Recovery - Executive Intelligence Review, October 10, 2008 We are in the world's worst crisis, in the history of European civilization, since the Middle Ages. There is no crisis in modern European history, or related history, which compares with the crisis which is striking now. The nearest comparison is the general collapse in Europe in the 14th Century, which is called the New Dark Age. And this resulted in a collapse of half the parishes of Europe, a reduction of the European population by one-third, and the outbreak of complete chaos and disappearance of whole parts of culture... Wall Street, nuovo tonfo (-5,11%) - Corriere della Sera, 7 ottobre 2008 In Europa: Milano -0,91%, Francoforte -1,12%. In rialzo Parigi +0,55% e Londra +0,16%. Nuovo Record per l'euribor, mutui più cari... Crisi mutui. I superbonus dei supermanager - AmericaOggi, 04-10-2008 (per forza, stanno rischiando il linciaggio!) Congress: Lehman paid executives $20m days before collapse - Shanny Basar, Financial News, 07 Oct. 2008 Lehman Brothers authorized payments totaling nearly $20m (€14.8m) to two executives who had been “involuntarily terminated” just days before the bank filed for bankruptcy protection, according to a US Congressional committee finding [nessuno pagherà] CRISI MUTUI: USA, UCCIDE MOGLIE,3 FIGLI, SUOCERA E SI SUICIDA - ANSA, 7 OTT 2008 Un disoccupato californiano di 45 anni in difficolta' economiche ha ucciso a colpi di pistola la moglie di 39 anni, la suocera di 70 e i tre figli rispettivamente di 19, 12 e 7 anni prima di suicidarsi . Il suicida aveva un Masters in Business Administration... Regulators Outline Steps to Quell Crisis - By DEBORAH SOLOMON, WSJ, OCTOBER 7, 2008 The Treasury Department is under pressure to show meaningful results from its newfound authority to buy $700 billion of distressed assets, which Congress approved last week. Treasury is expected to begin buying assets within a few weeks through the use of auctions. But if market conditions continue to deteriorate, it could make use of another tool at its disposal: investing directly in troubled companies La crisis del siglo - Casino Crash blog, October 7th, 2008 Lo afirma Paul Samuelson, premio Nobel de Economía: “Esta debacle es para el capitalismo lo que la caída de la URSS fue para el comunismo” It’s not just a financial crisis - Casino Crash blog, October 7th, 2008 Susan George, in a Schumacher lecture on Saturday, argued that the financial crisis is tightly linked to the social crisis of poverty and inequality and the environmental crisis. “Each of these crises—social, financial, environmental–is negatively linked to the others, they intensify each other with negative feedback; they lead to worst-case scenarios.” A new South American financial architecture - Casino Crash blog, October 6th, 2008 The Credit Crunch Goes Global (interactive map) - CNN, 7 Oct 2008 It may have begun as a problem with subprime mortgages in the U.S., but markets and lenders throughout the world have been spooked by billions in bad loans and credit instruments. Here's a map to the worldwide fallout Francia/ Clearstream, chiesto rinvio a giudizio per Villepin - APCOM, 7 ott 2008 Ex premier accusato di aver voluto "incastrare" rivale Sarkozy. Però del vero scandalo Clearstream, quello dei conti non pubblicati, delle transazioni cancellate, nessuno parla più... Euroclear set to unveil commercial paper benchmark - Financial Times, 7 Oct 2008 Euroclear, Europe’s largest securities settlement service provider, is on Tuesday likely to unveil the first benchmark to help corporate borrowers and investors evaluate prices in the region’s commercial paper markets Top Icelandic bank nationalised as financial crisis grows - Financial Times/New York Post Iceland’s government on Tuesday nationalised Landsbanki, the country’s second largest bank, as it exercised new powers enabling it to take over public companies in the financial services sector  Fed considers plan to fund short-term business loans - By Jeannine Aversa, Associated Press, via Yahoo News, October 7, 2008 The government is weighing a bold plan to buy massive amounts of unsecured short-term debts in a dramatic effort to break through a credit clog that is imperiling the economy Financial Meltdown: We're on "the Edge of the Abyss" - by Mike Whitney, Global Research, October 6, 2008 Now we're in a terrible fix. People are scared and removing their money from the banks and money markets which is intensifying the freeze in the credit markets and driving stocks into the ground like a tent stake. Meanwhile, our leaders are "caught in the headlights", still believing they can "finesse" their way through the biggest economic cataclysm since the Great Depression. It's madness Povero Marx! Rispettiamo ciò che ha detto, poi ridiscutiamolo - di Gianfranco La Grassa, Comunismo e Comunità, N. 0, ottobre 2008 Ron Paul: Bailout Unconstitutional - APFN, Oct 6, 2008 12:07 Bailout Unconstitutional, Special Interests Forced Bill Through Congress. Congressman warns enhanced bill worse than original  Borse: il rimbalzo non c'è, indici ancora giù - di Marco Mairate, BlueRating, 7-10-2008 Il giorno dopo il crollo delle borse mondiali, i listini mancano il rimbalzo tecnico e tornano a scendere. Nonostante le diverse iniziative economiche di Europa e Stati Uniti, il settore bancario continua ad essere sotto stress e diversi istituti inglesi vanno al tappeto. Milano ancora la piazza peggiore (-1,01%) schiacciata dalla presenza dei bancari nei principali indici di Borsa [fuggi fuggi] Hypo Re: il numero uno Georg Funke si dimette con effetto immediato - Il Sole 24 Ore Radiocor, 07-10-08 In giornata la scelta del successore... Federal Judge Rejoins Law Firm for 'Financial Reasons' - Shannon P. Duffy, The Legal Intelligencer, October 7, 2008 Senior U.S. District Judge James T. Giles has left the federal bench to return to Pepper Hamilton, where he worked for 11 years and became the first black partner before being appointed to the court in 1979. Giles said that he decided to leave the bench for "financial reasons," and that he would have stayed on the court if a "meaningful" judicial pay raise had been passed by Congress. "If there's not some movement on the salary front, more senior judges will leave," Giles said Three Plead Guilty in Multimillion-Dollar Subprime Scheme - Mark Hamblett, New York Law Journal, October 7, 2008 Three people pleaded guilty Friday to a multimillion-dollar subprime mortgage scheme. Galina Zhigun and her son, Garri Zhigun, operators of the Brooklyn-based mortgage brokerage AGA Capital NY, and Maryann Furman, Garri Zhigun's wife and an AGA employee, entered guilty pleas to fraud charges in New York federal court. They were accused of using false documents and straw buyers to obtain loans. A total of 26 people were indicted in the subprime scheme Firms Scramble to Create 'Crisis' Groups - Peter Page, The National Law Journal, October 7, 2008 Law firms with banking and finance practices that were recently making deals with free-flowing credit are now scrambling to launch new groups to help clients simply survive the credit crisis. The ripples of collapsing financial institutions are already reaching areas such as white-collar crime, banking, securities and transactions. "Anyone who says they know where this is going is full of baloney," says Bracewell & Giuliani Chairman Pat Oxford, who is heading the firm's new financial industry task force Countrywide Deal Includes Reworked Mortgages - Cheryl Miller, The Recorder, October 7, 2008 Troubled mortgage lender Countrywide will modify risky home loans and suspend some foreclosures as part of a massive $8.7 billion settlement with 11 states, California Attorney General Jerry Brown and Bank of America, Countrywide's new parent company, announced Monday. Brown's office said the deal will likely become "the largest predatory lending settlement in history." The settlement does not drop complaints against Countrywide utives Angelo Mozilo and David Sambol Gold Pushes Higher as Silent Bank Run Continues - By: Adrian Ash, The Market Oracle, Oct 07, 2008 The "silent run" meantime continued on troubled banks – enabled by internet cash transfers and encouraged by Competitive Bail-Outs in Europe – with shares in RBS, one of the world's 10 largest banks, losing half their value from last week's close on rumors it's seeking emergency aid from the UK government U.S. Economy Rapidly Sinking Into Economic Depression - The Market Oracle, Oct 07, 2008 This is the crisis that will change the course of history. Even before ivory-tower theorists have gotten around to officially calling it a "recession," the U.S. economy is already sinking rapidly into depression Keyser Soze Heists Main Street Out of $700 Billion - By: Nadeem Walayat, The Market Oracle, Oct 05, 2008 The Usual Suspects, Paulson, Bernanke and Cox (the Chair of SEC) over the last 10 days have proceeded to spin their verbal scare story to both the Democrats and Republicans into joining forces to hand over a ransom of $700 billion in the form of a blank check to the aid bankrupt banks to off load losses onto the US tax payer Izvestia: PAST EXPERIENCE SAYS CAPITAL ALWAYS FAVORS PROFIT OVER SOCIAL GOOD - Posted By: GoldenEagle, 7 October 2008 Tremonti: bocciato il Fondo europeo anti crisi, ma coordinamento nei salvataggi - RaiNews24, 7 ottobre 2008 Il Fondo monetario internazionale invita autorità e governi a studiare una risposta "coordinata" per riportare "ordine" e "fiducia" tra gli investitori. Senza un intervento "ampio, tempestivo e trasparente", avverte il 'Rapporto sulla stabilità finanziaria globale' (Gsfr), la turbolenza risulterà "costosa" per l'economia reale, per la quale è già ora previsto "un ulteriore rallentamento". Traduzione: se non si spreme ed indebita ulteriormente il contribuente, le banche potrebbero soffrire... Quello che non capiscono è che in questo sistema predatorio pseudolegale, l'interesse del banchiere è diametralmente opposto a quello della comunità. I governi devono finalmente fare una decisa scelta di campo, prima che la facciano violentemente i cittadini per loro. Kennedy diceva giustamente che chi ostacola una rivoluzione pacifica, ne provoca una violenta. Il rischio è che tirando la corda, continuando a caricare la schiena dell'asino, questo finisce per capire come funziona veramente "il grande gioco"... Credit Crisis Actions Risk Collapse of European Monetary Union - By: John Mauldin, The Market Oracle,Oct 06, 2008 Financial Crisis: Fortis' Dutch assets are nationalised - By Yvette Essen, Telegraph.co.ik, 03 Oct 2008 The Dutch operations of Fortis, Europe's largest victim of the credit crisis, have been nationalised in a €16.8bn (£13bn) deal aimed to calm investors in the troubled banking and insurance group (in Italia invece il popolo paga le perdite è la proprietà rimane saldamente in mani private, dal dopoguerra...Utili privati e socializzazione delle perdite, è la regola dall'avvento della cleptocrazia) Can the spymaster Iain Lobban be spied upon? - Cryptome, 6 October 2008 "There's no hiding place as spy HQ plans to see all - Intelligence chiefs want access to all communications made in the UK, but they face a fight." MERCOLEDI' AL SENATO CONFERENZA STAMPA IDV SUL SISTEMA BANCARIO - AgenParl, 6 Ottobre 2008 10/06/08 - Government Spending Spree - by The Mogambo Guru The government desperately needs money, the Federal Reserve will create the money the government wants, the fresh government debt will be bought up, the money supply will increase, the value of the dollar will continue to fall, and gold will rise along with, and almost certainly more than, the rise in all other prices! Whee! This investing stuff is easy! CRISI MUTUI: BRUCIATI 444MLD - UE DIFENDEREMO RISPARMIATORI - ClandestinoWeb, 07 ott. 2008 Pioggia di vendite sui bancari di tutto il mondo da Goldman Sachs a Bank of America, da Unicredit a Royal Bank Of Scotland... (forse aveva ragione chi malignava che salvavano l'Alitalia per aver pronti gli aerei per Hammamet...)  Una vista panoramica di Hammamet Bank of America Settles Suits Over Bad Mortgages - Christopher Wills, The Associated Press, October 6, 2008 Facing a lawsuit over deceptive mortgage practices, Bank of America is agreeing to pay more than $8 billion to modify hundreds of thousands of loans to keep people from losing their homes (se in Europa non si fanno queste cause, è ovvio che la situazione qui sarà notevolmente peggiore... per la gente, s'intende) Fight for Wachovia Rages All Weekend in State, Federal Court - Andrew Longstreth, The American Lawyer, October 6, 2008 World markets hammered over banking fears - Graeme Wearden and Richard Wray, guardian.co.uk, October 06 2008 The Fed said today that it is increasing the amount of credit it makes available to American banks by $900bn... (altri 900 miliardi di dollari di potere d'acquisto espropriato alla comunità del dollaro...ormai è una gara a raschiare il barile prima del redde rationem) Another henhouse, another fox - gata.org, 2008-10-06 The administration has selected a former Goldman Sachs executive to be the interim head of its $700 billion rescue effort for financial institutions... Germany takes hot seat as Europe falls into the abyss - By Ambrose Evans-Pritchard, Telegraph, 06 Oct 2008 We face extreme danger. Unless there is immediate intervention on every front by all the major powers acting in concert, we risk a disintegration of global finance within days. Nobody will be spared Borsa: per l'Europa e' una Caporetto, peggior ribasso del Mibtel dal '98 - Il Sole 24 Ore Radiocor, 06 ott 2008 UNICREDIT: S&P TAGLIA OUTLOOK A NEGATIVO, CONFERMA RATING - La Repubblica, 6 ottobre 2008 Fifty Percent, Or More, Of Homeowners Income Going For Housing! Fifteen percent of American homeowners with a mortgage (7.5 million households) are spending 50% of their income or more on housing costs, according to 2007 data released this month by the U.S. Census Bureau. That’s up from 7.1 million from the year before. Global markets in meltdown as shares in London AND New York plunge to four-year low - By Nicola Boden, Sean Poulter and Michael Lea, Mail Online, 06th October 2008 FTSE dips by staggering 8% as Dow plunges. Utter confusion after Germany guarantees all savings. Austria, Denmark and Sweden decide to follow suit. Iceland forced to suspend trading for six major banks. Economic 'war cabinet' meets to discuss crisis  Le banche mettono un freno agli spot - Claudia Cassino, Pubblicità Italia, 06/10/2008 La classifica dei top spender del periodo è dominata dal Gruppo Allianz, seguito da Ing Direct e Unicredit Group. Seguono poi BNL, Che Banca e Direct Line. (C.C.) CRISI BANCHE: CAPIGRUPPO IDV, TREMONTI IN PARLAMENTO - La Repubblica, 6 ottobre 2008 It's not just the government and banks but the people too - gata.org, 2008-10-06 NBC Television's "Saturday Night Live" program satirized the other night not only the U.S. government's response to the collapse of the banking system but also one of its causes, the venality of much of the citizenry Prices for 16 basic food items shoot up in third quarter - From Bloomberg News, October 3, 2008 Retail prices for flour, potatoes, cheddar cheese and apples showed the largest increases in the quarter. A 5-pound bag of flour cost $2.62, up 37% from a year earlier, while 5 pounds of potatoes rose 32% to $3.38. Prices for cheddar cheese and apples surged 21%. Vegetable oil rose 17%, a dozen eggs jumped 13%, pork chops were up 6.8% and hamburger cost 5% more How the Senate's 60 Lawyers Voted on Bailout Bill - Brian Baxter, The American Lawyer, October 6, 2008 Only 12 voted against the plan. Two of the dissenters had worked at Am Law 200 firms or their predecessors, while 10 of the 47 who approved the bill can claim an Am Law 200 connection. Here's the breakdown, with details on the lawyer-senators Papa: ''Solo la parola di Dio e' una solida realta''' - ANSA, 2008-10-06 Chi ha venduto l'anima al diavolo, non riuscirà a riscuotere il cash. Pace ed Amen. Euro and British Pound Come Crashing Down to Earth - The Market Oracle, Oct 06, 2008 Britain: Police train for riot scenarios - Global Research, October 5, 2008 This training points to the militarization of law enforcement in the UK. Does it bear a relation to potential social unrest and the unfolding economic and social crisis? Parmalat, pm: mondo finanza "ipocrita e omertoso" - Reuters, 6 ottobre 2008 "(L'attuale crisi della finanza) è la migliore dimostrazione che l'intuizione delle procure di Parma e Milano era giusta e che le banche erano corresponsabili" Debt Bondage: A Christian Perspective on the Paulson Bank Bailout - by Dr. Michael Hudson, Global Research, October 5, 2008 Europe worries dent stock markets - BBC News, 6 October 2008 European turmoil outweighed relief over the US bail-out, analysts said. European and Asian stock markets have fallen sharply with investors worrying over the growing level of financial turmoil in Europe... ECO - Borse europee in profondo rosso, Unicredit nella bufera - Il Velino, 06/10/2008 Il titolo più colpito è sempre Unicredit nonostante il piano da 6,6 miliardi per rafforzare il capitale deciso ieri in un consiglio di amministrazione straordinario... Comi (Centrosim), BP e Mps le banche più deboli per capital ratio - MF Online, 06/10/2008 Alla luce della incapacità da parte di Unicredit di realizzare il programma di dismissioni annunciato al mercato: asset immobiliari, portafoglio performing a causa delle avverse condizioni di mercato, il mercato si aspetta che altre banche italiane possano trovarsi nella condizione di dover tagliare... Crisi mutui: Svezia e Danimarca garantiscono depositi banche - ANSA, 6 OTT 2008 BORSA: UNICREDIT RIDUCE FLESSIONE, TELECOM SCIVOLA SOTTO 1 EURO - ASCA, 6 ott 2008 Sospese per eccesso di ribasso Banco Popolare che accusava un -10% e GEOX Borsa Milano affonda, peggiore in Europa, pesa ribasso Unicredit - Reuters, 6 ottobre 2008 Mentre i governi di Grecia, Germania e Irlanda "garantiscono" illimitatamente tutti i conti correnti (a spese dei contribuenti, ovviamente...) Shock & Awe: Bi-Partisan Beltway Terrorists Launch Economic 9/11 on the American People - by Chris Floyd, Global Research, October 5, 2008 The House of Representatives has now completed the economic terrorist attack inflicted on the American people by the nation's elite. The bailout bill -- or as Arthur Silber more rightly terms it, the "Extortion Bill" -- is already law, thanks to the Democrats in Congress, and to Barack Obama CHAPMAN-BAILOUT CREATING A FINANCIAL BLACK HOLE TO SUCK US ALL IN - Bob Chapman, 4 October 2008 DEBT REPUDIATION AND A PERMANENT TAX REVOLT, MIGRATION TO A CASH/BARTER UNDERGROUND ECONOMY IS ONE WAY TO STARVE THE BEAST BUYING & SELLING THE RIGHT TO POLLUTE - By Rosalind Peterson, NewsWithViews.com, October 5, 2008 Venture capitalists are awaiting the pending passage of the Climate Security Act of 2007 (U.S. Senate Bills 2191 and 3036 supported by Senators Lieberman and Boxer), and other related bills, to begin reaping huge financial market benefits supported by United States taxpayers Shame on the Democrats for Bailout - By Matthew Rothschild, The Progressive, October 3, 2008 They got rolled by Henry Paulson. They succumbed to blackmail by the banks European Union Leaders Stop Short of Regional Plan on Bailouts - By Sandrine Rastello, Bloomberg, Oct. 5, 2008 The leaders said they want to allow banks to keep some assets valued as if they'd be held until maturity, instead of having to review their value each quarter. "That's to stop the down-spiral of assets' value,'' Barclays' Boone said... UBS confirms 2000 job cuts - Dow Jones Newswire, 03 Oct. 2008 UBS said that as part of the continuing restructuring of its troubled investment banking division, which has been hit by crippling writedowns and is suffering from a slump in demand amid the current financial crisis, it will cut 2,000 jobs and exit several business lines Lehman Brothers, primi ricorsi contro le banche - agenzia DIRE, 4 ottobre 2008 Sono coinvolte Unicredit, Cassa di risparmio di Parma e Piacenza e Banca di Roma Unicredit calls extraordinary board meeting - By Sabrina Cohen, MarketWatch, Oct. 4, 2008 The board meeting comes after seven days of massive selling of UniCredit stock prompted by investor fears that the bank has liquidity problems and its chief executive might step down  MUTUI, PATTO DI STABILITA' IN CRISI AL G4 - Angelo Angeli, Il Salvagente, 05/10/08 Le regole di Maastricht sono troppo strette. Nessun Fondo per salvare le banche, ma Sarkozy, Berlusconi, Brown e la Merkel concordano su "più flessibilità". Fallito il salvataggio di Hypo Re G4: la Bei stanzi 31,5 mld per Pmi - ANSA, 4 OTT 2008 Si sono messi d'accordo per chiedere alla Bei di sbloccare 31,5 miliardi di euro per indebitare ulteriormente le piccole aziende... G4: «Sui Mutui Usa chi ha sbagliato paghi» - Il Secolo XIX, 4 ottobre 2008 Lo ha detto il presidente del Consiglio Silvio Berlusconi intervenendo alla conferenza conclusiva del G4 straordinario per affrontare la crisi finanziaria World economic crisis: France moves into recession - David Gow in Brussels, guardian.co.uk, October 03 2008 The French premier, Francois Fillon, today warned that the world was "on the edge of the abyss" as his country moved into an official recession Food Riots Have Already Begun as Global Grain Prices Skyrocket, Supplies Dwindle - by: David Gutierrez, NaturalNews, October 01, 2008 Street protests and rioting over high food prices have broken out in Guinea, Indonesia, Mauritania, Mexico, Morocco, Uzbekistan, Yemen and West Africa in the past several months Responding to the collapse - Richard K. Moore, 3 October 2008 EU governments proclaimed cockily that the financial crisis was an Anglo-American problem, and then the next day we find out that European banks are more highly leveraged than US banks! Ireland's own bailout is the most radical of all, 400 billion Euro to underwrite its leading banks  The Federal Reserve: Unconstitutional Money Regulation - by Thomas D. Schauf Rothschild, a London Banker, wrote a letter saying "It (Central Banking System) gives the National Bank almost complete control of national finance. The few who understand the system will either be so interested in its profits, or so dependent on its favours, that there will be no opposition from that class... The great body of the people, mentally incapable of comprehending, will bear its burden without complaint, and perhaps without even suspecting that the system is inimical (contrary) to their interests." Internet rumor about run on the banks leads back to alleged FBI info - Paul Joseph Watson, Prison Planet, October 3, 2008 The Federal Deposit Insurance Corp., which guarantees individual accounts up to $100,000, only has about $50 billion to "insure" about $1 trillion in assets across the nation´s financial institutions You're Going To Guarantee A Depression!!! - Representative RON PAUL Speaks on C-Span to the US house about the bailout Municipalities Struggle Over Loss of Credit - Zach Lowe, The American Lawyer, October 3, 2008 The Lehman Brothers bankruptcy and the bailout plan have been big news, but the economic collapse has also hurt the municipal bond market. Attorney Richard Cosgrove is the chief utive partner at Chapman and Cutler, which boasts one of the leading public finance practices advising municipalities on issuing bonds. Cosgrove says that in 31 years, "there's never been anything like this. This one is beyond imagination." Is Credit Default Swap Litigation the Next Big Thing? - Robin Sparkman, The American Lawyer, October 3, 2008 It seems that hardly a day goes by without someone predicting that boom times for litigators are just over the horizon. The latest prognostication, courtesy of a media lunch hosted by Paul, Hastings, Janofsky & Walker: It's going to be all about the credit swaps. But if credit default swap litigation takes off, big Wall Street firms could end up on the outside looking in Shearman Takes Lead on Germany's First Big Bailout -- $48B for Hypo Real Estate - Sofia Lind, Legal Week, October 6, 2008 Shearman & Sterling has taken the lead role on Germany's first high-profile rescue deal -- advising on the $48 billion bailout of commercial lender Hypo Real Estate. The loan, which the European Commission cleared on Thursday night, has also generated roles for Hengeler Mueller and Linklaters. The German bailout comes in the same week that local governments were forced to bailout Dexia and Fortis bank, while U.K. lender Bradford & Bingley was nationalized Lehman Brothers creditors demand probe of JP Morgan Chase - Dow Jones Newswire, Oct. 3, 2008 Creditors for Lehman Brothers Holdings want a federal judge to look into why JP Morgan Chase & Co. “froze” billions of Lehman’s assets in the days before Lehman’s bankruptcy, saying it may have contributed to the demise of the 158-year-old investment bank Banking and Lending has Become a Vegas Crap Game - By Dr. Laurie Roth, NewsWithViews.com, September 26, 2008 Maybe we should raise more tax dollars to buy medication for the heads of all these banks. Perhaps they need Inner ear treatment and surgery due to the extreme dizziness created with tracking so many loans. At least put them in a padded room so when they fall they don’t hurt themselves... BANKING BILL BAILS OUT CHINA - By Cliff Kincaid, NewsWithViews.com, October 3, 2008 “Under the Bill,” Sherman explained in an October 1 release from his office, “the Administration can buy any asset from any financial institution for any price. Some think that only U.S. investors will be bailed out. Major foreign investors have already been assured that they can benefit from the bailout. Under the Bill, the Bank of China can sell a portfolio of toxic assets to a U.S.-headquartered investment bank on Monday, and that investment bank can then sell those same assets to the Treasury on Tuesday. The foreign financial press indicates that foreign investors are sure that they will get at least tens of billions of dollars.” GERMANIA: TELEKOM,RUBATI 17 MLN DATI, IN VENDITA SUL WEB - La Repubblica, 4 ottobre 2008 "una straordinaria quantita' di numeri telefonici segreti e indirizzi privati di noti uomini politici, ministri, ex presidenti della Repubblica, personaggi del mondo economico, miliardari e personalita' religiose" Liquidity is in the Eye of the Holder - Peter Schiff, 321gold, Oct 4, 2008 Since troubled loans will no longer be foreclosed by lenders but instead sold to the government, the rational choice for many homeowners will be to stop making their mortgage payments and wait for a better deal from the government. This reality will eventually push the cost of this bailout well above $2 trillion Fannie Mae forgives loan for woman who shot herself - CNN, October 3, 2008 Fannie Mae said it will set aside the loan of a woman who shot herself as sheriff's deputies tried to evict her from her foreclosed home Paulson Recruits Asset Managers to Stop Loss of 'Precious Days' - By Rebecca Christie and Robert Schmidt, Bloomberg News, October 3, 2008 Bailout implementation is all fantastic conflict of interest and patronage Wachovia faced a ‘silent' bank run - By Rick Rothacker and Kerry Hall, charlotteobserver.com, Oct. 02, 2008 Fearing a loss of funding over the weekend, the FDIC forced the sale The Invisible Hand and the Pox Known as Usury - By: Rob Kirby, GoldSeek.com, 3 October 2008 Bailing Out Europe . . . - FROM TODAY'S WALL STREET JOURNAL EUROPE, OCTOBER 3, 2008 The euro's fall of about 5% against the dollar in recent days shows that investors are more worried about the Old Continent than the New World. Europe is learning that financial turmoil is no zero-sum game. America's loss isn't Europe's or anyone else's gain. The credit mania was a global phenomenon and its aftermath requires global responses How Europe could be the credit crunch's next victim - By Associate Editor David Stevenson, MoneyWeek, Oct 03, 2008 It turns out that not only have European banks also been punting around in piles of toxic debt, they've actually taken bigger overall bets than the Americans. So with global property prices crashing, Europe's financial firms are now starting to look even shakier than those in the US... Financial and Corporate System is in Cardiac Arrest: The Risk of the Mother of All Bank Runs - Nouriel Roubini, Oct 3, 2008 The run on the shadow banking system is accelerating as: even the surviving major broker dealers (Morgan Stanley and Goldman Sachs) are under severe pressure (Morgan losing over a third of its hedge funds clients); the run on hedge funds is accelerating via massive redemptions and a roll-off of their overnight repo lines; the money market funds are experiencing further withdrawals in spite of government blanket guarantee Will the Crisis Bring Down the Global Financial System? Go Get Your Dollars Out Now! FAST!!! - by Adrian Salbuchi, Global Research, October 3, 2008 Fractional Reserve Banking System allows the private banking infrastructure to generate "Virtual Money" literally out of thin air (i.e., electronic credit lines, loans and the like) in a proportion of 6, 10, 30 or 50 times more than the actual Real Money they hold in their bank vaults. To add insult to injury, the banks then charge you hefty interest rates for the "money" they created out of nothing and "lent" to you, whilst they require collateral consisting of real stuff like your home, your car, or your company "Grand Larceny" on a Monumental Scale: Does the Bailout Bill Mark the End of America as We Know It? - by Richard C Cook, Global Research, October 2, 2008 Every reputable economist commenting on the bill opposes it, including NYU’s Nouriel Roubini, who says the plan is "totally flawed." He says the plan is: "a disgrace: a bailout of reckless bankers, lenders, and investors that provides little direct debt relief to borrowers and financially stressed households and that will come at a very high cost to the US taxpayer." 10/03/08 - A Campaign Against Pejorative Gold Hoarding - by The Mogambo Guru The Bundesbank's 3,400 tonnes of gold "is the second-largest hoarder of gold behind the U.S. Federal Reserve"... NEXT CRISIS: MUNICIPAL BOND DEFAULTS - Hal Turner Show, October 3, 2008 If you hold municipal bonds, I suggest you seriously consider dumping them before they become totally worthless Growing number of firms at risk of going bust, warns Bank - The Independent, 3 October 2008 The prospect of large numbers of British companies failing after finding themselves starved of credit is moving closer, the Bank of England has warned European bank rescue plan in tatters amid savings stampede - The Times, October 3, 2008 Amid reports that Greek depositors were rushing to withdraw their savings, Greece's Cabinet agreed to protect all deposits whatever their size. Previously the maximum guaranteed was €20,000 (£15,600) House passes $700 billion financial bailout - Reuters, Oct 3, 2008 The House of Representatives approved a $700 billion bailout package for U.S. banks, under pressure from all sides Schwarzenegger Tells Paulson State May Need Loans if Credit Markets Frozen - By Jerry Hart, Bloomberg, Oct. 3, 2008 California Governor Arnold Schwarzenegger told the U.S. Treasury that his and other states may need emergency federal loans if turmoil in the credit markets continues to impede their access to financing Europe Real-Estate Slump May Spur Local Bank Mergers From Iceland to Spain - By Alan Katz and Charles Penty, Bloomberg, Oct. 3, 2008 When Denmark's central bank bailed out Roskilde A/S and its 24 branches in July, there was barely a ripple in Europe's financial industry. Today it looks like the sign of a tsunami of soaring funding costs and falling house prices now crashing over banks from Iceland to Spain Bailout Fixes Nothing, Banking System Collapse Approaches Climax - By: Jim Willie CB, Interest-Rates / Credit Crisis 2008, Oct 02, 2008 From a friend in Atlanta with strong banking connections: “ Reliable word that Bank of America branch managers just received a letter or memo from the USFed instructing them to perhaps be ready for a one-week universal shut-down of the banking system , including access to checking accounts, savings accounts and credit cards. Reliable word has it that BofA bank branches received a shipment of signs last week, reading “WE'RE SORRY, BUT DUE TO CIRCUMSTANCES BEYOND OUR CONTROL, WE CANNOT BE OPEN AT THIS TIME.” Time for Investors to Panic! SEC Abandons Sound Accounting Practices - By: Andrew Butter, The Market Oracle, Oct 03, 2008 The SEC about-face on Mark to Market…the lunacy continues. This means it's time to run away APPELLO A NON SOTTOSCRIVERE - DI CARLO GAMBESCIA, 3 Ottobre 2008 Sono a rischio i risparmi di centinaia di milioni di europei Unicredit rassicura il mercato - FTA Online News, 03/10/2008 Dopo il crollo visto a inizio settimana, Unicredit nelle ultime tre sedute ha recuperato parte del terreno perduto. Questo grazie alle dichiarazioni dell'ad Alessandro Profumo, che ha rassicurato i correntisti in diretta dal Tg 1 delle 20 (il telegiornale con piu' audience in assoluto), e grazie alla decisione della Consob di vietare le vendite... Unicredit: l'outlook di Fitch diventa negativo - FTA Online News, 03/10/2008 Fitch ha modificato da positivo a negativo l'outlook su UniCredit, sulle controllate italiane - UniCredit Banca di Roma SpA, Banco di Sicilia SpA, Bipop Carire SpA, UniCredit Banca per la Casa SpA - e su HVB in Germania, Bank Austria e Bank Pekao in Polonia Greece joins bailout stampede as Germany vows no blank cheques - telegraph.co.uk, 2008-10-03 The Greek government has issued a blanket guarantee of all bank deposits after panic withdrawals by customers in Athens and Thessaloniki, creating an unstoppable stampede across Europe for an EU-wide bail of the financial system. "The whole of Europe will have to do same thing, otherwise Europe will have a split banking system," said Hans Redeker, currency chief at BNP Paribas 2nd Circuit: Analysts Bound by Same Liability Presumption as Issuers for 'Fraud on Market' - Mark Hamblett, New York Law Journal, October 2, 2008 The 2nd Circuit has ruled that research analysts may be bound by the same presumption of liability applied to stock issuers for misrepresentations under the fraud-on-the-market theory. The court, however, vacated class certification in the case alleging bogus research reports by influential Salomon Smith Barney analyst Jack Grubman. The presumption, as set forth by the Supreme Court, is that individual investors rely on a defendant's publicly made material misrepresentation about stocks "SONO TORNATI I BARBARI, SPIETATI E CINICI" - INTERVISTA CON L'ECONOMISTA CHRISTIAN MARAZZI - Finanza in Chiaro, 02/10/2008 Big Deals Go Belly Up Amid Market Crisis - Brian Baxter, The American Lawyer, October 2, 2008 Whether it's M&A, real estate, or project finance and infrastructure, some big deals have collapsed this week due to concerns about the increasingly unruly capital markets. How big? For starters, think $12.8 billion 10/02/08 - Fed Up With Total Fed Credit - by The Mogambo Guru "My voice trembles as I read aloud that now, for the first time ever, the Fed has created over a trillion dollars' worth of new credit, $1,134,942,000,000.00 to be exact, in the banks, which comes to $3,783 for every man, woman and child in America." Borsa, Consob restringe da oggi norme vendite allo scoperto - Reuters,, 1 ottobre 2008 10/01/08 - The $200 Million House of Bread - by The Mogambo Guru "In final preparation, I quickly calculated the price of bread 4 years into the future after suffering a 15.3% monthly inflation, and found that, in four years, a loaf of bread that costs $2 today will then cost $1,857.11!" Shut Down The
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