RED ALERT WARNING: THIS IS YOUR LAST CHANCE — Bill Holter ~ SGTreport.com


Note: My feeling about all the “economic collapse” warnings, is that there’s an X-Factor that most analysts aren’t aware of in relation to negotiations with ET races who are here assisting humanity thru the coming shift. IMO there’s a Divine plan unfolding to recover humanity’s stolen assets and restructure the global economy to a system of abundance vs scarcity. How it will look or function is anyone’s guess. The key here is in knowing that all your needs will be met easily, and in learning how to manifest our abundance without doubt or fear.

Much love, Annette

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Friends, this interview with JS Mineset’s Bill Holter is not for the faint of heart. It contains information you absolutely must share with your friends and family, no matter how closed-minded they are, no matter how many times you may have tried to warn them in the past. This may well be their last chance to protect themselves from an economic calamity so severe that they will never recover.

Holter warns, “I think what we are looking at is an EVENT that you’re not going to be able to recover from. If this market snaps and the markets close, and you’re not in position, you’re out. You’re out for the rest of your life. This is going to be an EVENT that you can’t recover from.”

As readers of SGT Report know, Silver is the best performing commodity asset of 2016 thus far, and there are some very quantifiable, very important reasons for it. This may well be your last chance to protect yourself from what is coming.

For REAL News & Information 24/7:
http://sgtreport.com/
http://thelibertymill.com/

MUSIC CREDIT:
Chris Zabriskie “Its Always Too”
Licensed under Creative Commons “Attribution 3.0” http://creativecommons.org/licenses/b…”http://creativecommons.org/licenses/b

The content in my videos and on the SGTbull07 – SGTreport.com channel are provided for informational purposes only. Use the information found in these videos as a starting point for conducting your own research and conduct your own due diligence BEFORE making any significant investing decisions. SGTbull07 – SGTreport.com assumes all information to be truthful and reliable; however, I cannot and do not warrant or guarantee the accuracy of this information. Thank you.

SILVER BREAKS OUT Amidst Global Economic CHAOS – Andy Hoffman ~ SGTreport.com


China launched its Yuan-denominated Gold fix TODAY as the world moves away from the criminally corrupt LBMA paper gold and silver FIXES — and what do we see? Silver breaking out to 10-month highs today, as the Chinese buy PHYSICAL silver! Meanwhile Deutsche Bank prepares itself for Billion dollar lawsuits for its role in the criminal conspiracy to rig the prices of both gold and silver. Andy Hoffman joins me to discuss. Thanks for tuning in.

As the economic collapse accelerates, home invasions for FOOD start appearing in the press… hungry people raiding homes incite NJ chaos ~ Natural News


Note: This is not about fear, it’s about being prepared. Single women with children, the disabled/sick and the elderly are most at risk. The writings on the wall, please get out of the cities NOW for your own safety. It’s time to ask yourself what’s most important, if you have to sell everything you own…so be it. Maybe it’s time to let go of the old, to bring in the new.

Besides, you’ll be soooo much happier in the country with small town living and plenty of green grass under your feet. Or desert, or sand…you get the picture. Much love, {~A~}:)

Monday, April 25, 2016 by: Sarah Landers

Economic collapse

(NaturalNews) According to a heartbreaking report by All Self Sustained, an elderly man was threatened with a knife last month by a man and a woman in a home invasion – the pair were looking to steal food.

71-year-old Luis Rosales answered the door of his New Jersey apartment in the afternoon and was confronted by a man and woman who were armed with an eight-inch kitchen knife. The pair forced themselves inside, threatening Rosales with death if he made too much noise.

The suspects used pepper spray to affect Rosales’ vision before ransacking his apartment and raiding his fridge, telling Rosales that they were hungry. They also took his wallet.

A sign of things to come?

The report shows that a combination of “the economy and lack of social civility” has started to reach a level where US citizens are now robbing food from other people, as reported by All Self Sustained. This might only be the beginning – the economy is on the verge of collapse; unemployment continues to be a major problem; and wage growth is stagnant.

It is thought that 45 million Americans are now relying upon food stamps, and civil uprising caused by the removal of government-issued food stamps is considered to be a huge threat to society as we know it. And it’s not just the US economy that’s suffering – the world economy is also in complete crisis.

According to the World Socialist Web Site, more than 1 million people in the US may soon lose their government food stamp benefits if they fail to meet work requirements. In a government move that could stimulate the economy by encouraging employment while saving taxpayer money, there will soon be a three-month limit on food stamp benefits for unemployed adults aged 18–49 who are not classified as disabled or raising minors; critics, however, claim the move could increase crime and hunger.

The recent home invasion by the suspects searching for food reinforces the idea that hunger and food insecurity are on the rise. According to statistics by Feeding America, as reported by the World Socialist Web Site, 48.1 million Americans are currently living in a food-insecure household. Food banks gave away 4 billion pounds of food last year, and on the basis of the cutoffs being implemented soon, social service and food banks are preparing for a massive influx of hungry people.

American Conservative Daily News reports that the US is on the verge of the “greatest food crisis in history,” explaining that certain types of food are already becoming more difficult to find and that the price of certain foods, for example meat, has shot up. The cost of eating has increased at a time when the economy is in collapse and this will mean an increased risk of riots and civil unrest – as well as an increase in the number of hungry Americans.

Crime rates will increase as well, as seen by the recent home invasion, meaning that there could be some very dark times ahead if the economy does not improve. As there could be tough times ahead, it’s important that you prepare to become self-reliant now. Learn more by signing up for the Self Reliance Summit!

Sources include:

AllSelfSustained.com

WorldSocialistWebSite.com

AmericanConservativeDailyNews.com

Bankers & Finance Ministers Around The World Are Attending Emergency Meetings In D.C. – Episode 944a ~ X22Report


Check Out The X22 Report Spotlight YouTube Channel – https://www.youtube.com/channel/UC1rn…

Get economic collapse news throughout the day visit http://x22report.com
Report date: 04.13.2016

Used car prices falling, inventories building up, new car sales slowing, a disaster in the making. Retail sales decline back to 2005 levels.Business inventories slide and sale decline. Baltic Dry Index pushes back up to 555, but this is still at an all time low. Obama now allowing law students and disabled students write off their student loans. This is part of the plan so the US tax payer can bailout the student loan bubble. FDIC reports banks will collapse in the next financial crisis.Bankers and Finance Ministers gathering for meeting in Washington DC. IMF reports a 20% or more drop in the stock market. The economy is about to crash.

All source links to the report can be found on the x22report.com site.

Most of artwork that are included with these videos have been created by X22 Report and they are used as a representation of the subject matter. The representative artwork included with these videos shall not be construed as the actual events that are taking place.

Intro Music: YouTube Free Music: Warrior Strife by Jingle Punks

Fair Use Notice: This video contains some copyrighted material whose use has not been authorized by the copyright owners. We believe that this not-for-profit, educational, and/or criticism or commentary use on the Web constitutes a fair use of the copyrighted material (as provided for in section 107 of the US Copyright Law. If you wish to use this copyrighted material for purposes that go beyond fair use, you must obtain permission from the copyright owner. Fair Use notwithstanding we will immediately comply with any copyright owner who wants their material removed or modified, wants us to link to their web site, or wants us to add their photo.

The X22 Report is “one man’s opinion”. Anything that is said on the report is either opinion, criticism, information or commentary, If making any type of investment or legal decision it would be wise to contact or consult a professional before making that decision.

Rob Kirby-Dollar Devaluation Clock About to Strike Midnight ~ Greg Hunter


Could there be a dramatic and overnight reduction in the value of the dollar? Kirby contends, “I think this is coming in very short order now. The trail of bread crumbs is indicating this is what is afoot right now.”

Does that mean dollar devaluation and a bank “holiday” coming soon? Kirby says, “How quickly this happens is open for conjecture, but that is clearly the direction we are heading. We are unmistakably headed in that direction. The only real question is how long these criminal central bankers can MacGyver the system together and keep it together with elastic bands, paperclips and bungie cords. This is going down. This is going to happen. I think it’s going down in the next two or three weeks. . . .We’ve all speculated that this would eventually happen. Now we are here, and the clock is about to strike midnight.”

What have the President and the VP been told by the Fed Chairman in these emergency meetings this week? Kirby says, “My guess is they are probably explaining to them just how deep the pooh is that they are about to be thrown into. It’s deep, and it’s going to be over their heads. . . . Historically, when banks have nothing else they can do, they take us to war.”

If they don’t take us to war? Kirby says, “Everything is on the table. . . . My thinking is there are an awful lot of U.S. dollars out there right now that are going to be coming home to America. . . . The adjustment in global reserve accounts could create a tsunami of dollars coming back to America in a very, very short period of time. That could trigger something approaching a hyperinflationary event or, at least, stagflation and super inflationary pressure. That’s the minimum occurring very, very soon.”

About the recent revelation of Deutsche Bank suppressing the price of physical gold and silver? Kirby points out, “The price rigging ultimately comes back to and will be shown that it really is an operation of the U.S. Treasury and the U.S. Federal Reserve. . . . The short interests, or the paper sales of precious metals, have been used on purpose to suppress the growing demand for precious metals, or to make it appear that people are still happy with dollars and don’t prefer precious metals to dollars. . . . Whether the U.S. central bank declares that gold or silver are not money in some hubris filled silliness doesn’t diminish the fact that gold and silver are money, and your U.S. Constitution says gold and silver are money.”

Join Greg Hunter as he goes One-on-One in a pivotal interview with Rob Kirby of KirbyAnalytics.com.

All links can be found on USAWatchdog.com: http://usawatchdog.com/tsunami-of-dol…

http://usawatchdog.com/donations/

CHINA SAYS “NO DOLLARS” FOR NEW YUAN


788ff92e9a59aeb146ed681b6c832028_xl

In a shocking move likely to crush the US economy overnight, China is refusing to make its new gold-backed Yuan, convertible from or to US Dollars.  The new Yuan will be introduced next Tuesday, April 19.

When the International Monetary Fund (IMF) agreed to add the Yuan to the basket of world currencies used for Global Reserves and International Trade, they wanted China to make the Yuan more reliable as a currency. Since then, China has almost un-pegged its Yuan from the Dollar, allowing its value to fluctuate on world markets.

But for years, China has been amassing huge amounts of gold bullion; some have said their appetite for bullion has been “staggering.”  And with a new gold-backed Yuan to be issued next Tuesday, the entire world will have a choice of a new currency to use for international trade:  The old US Dollar which is backed by nothing, or the new Chinese Yuan, which is backed by gold.  Which currency would YOU use?

When this new currency is issued, countries that have been forced to use US Dollars for decades, and have had to keep billions of dollars in their foreign currency reserves, will be free to dump those dollars.  But they won’t be able to dump them to China for the new gold-backed, Yuan!

China has reportedly decided “there can be no conversion of gold-backed Yuan to or from US dollars.”  What China fears is that many countries around the world will want to trade their reserve US dollars  for the new Yuan, leaving China with mountains of worthless US dollars.  China already has several trillion in US dollar reserves and does not want or need more.

If news of this decision by China is correct, then countries around the world may just have to decide whether or not they wish to continue trading with the USA at all?

The upheaval this could cause as early as next week, would be staggering.

This is a fast-=developing story; check back.

 

https://www.superstation95.com/index.php/world/1152

What in the World is Going on with Banks this Week? Emergency meetings, banker summits, crashing European banks……. ZeroHedge


Bruno de Landevoisin's picture


Written by David HaggithThe Great Recession Blog

Just about every major banker and finance minister in the world is meeting in Washington, D.C., this week, following two rushed, secretive meetings of the Federal Reserve and another instantaneous and rare meeting between the Fed Chair and the president of the United States. These and other emergency bank meetings around the world cause one to wonder what is going down. Let’s start with a bullet list of the week’s big-bank events:

  • The Federal Reserve Board of Governors just held an “expedited special meeting” on Monday in closed-door session.
  • The White House made an immediate announcement that the president was going to meet with Fed Chair Janet Yellen right after Monday’s special meeting and that Vice President Biden would be joining them.
  • The Federal Reserve very shortly posted an announcement of another expedited closed-door meeting for Tuesday for the specific purpose of “bank supervision.”
  • A G-20 meeting of finance ministers and central-bank heads starts in Washington, D.C., on Tuesday, too, and continues through Wednesday.
  • Then on Thursday the World Bank and the International Monetary Fund meet in Washington.
  • The Federal Reserve Bank of Atlanta just revised US GDP growth for the first quarter to the precipice of recession at 0.1%.
  • US banks are expected this coming week to report their worst quarter financially since the start of the Great Recession.
  • The press stated that the German government will sue the European Central Bank if it launches a more aggressive and populist form of quantitative easing, often called “helicopter money.”
  • The European Union’s new “bail-in” procedures for failing banks were employed for the first time with Austrian bank Heta Asset Resolution AG.
  • Italy’s minister of finance called an emergency meeting of Italian bankers to engage “last resort” measures for dealing with 360-billion euros of bad loans in banks that have only 50 billion in capital.

President Obama’s meeting with Fed Chair Yellen

It is rare for presidents to meet with the chair of the Federal Reserve. The last time President Obama met with Janet Yellen was in November of 2014, a year and a half ago. It is even more rare for the vice president of the United States to join them. In fact, I’ve heard but haven’t verified that it has never happened in a suddenly called meeting with the Fed before.

For security reasons, the president and vice president don’t regularly attend the same events. There are, of course, many planning sessions or emergency meetings where they do get together, but not with the head of the Federal Reserve. Emergency meetings where the VP is included in the planning session would include situations related to dire national security in case the VP winds up having to take over.

(George Bush and Dick Cheney were exceptional to the point that everyone commented on how often the VP was included in meetings with the president, but I always figured that was because George Bush couldn’t think and speak without Cheney acting as the ventriloquist.)

In fact the meeting with the prez and vice prez is so rare that the White House is bending over backwards to assure the entire nation that the president is not meeting with Yellen to try to influence the Fed, which is required to act independently of politics (so they say).

According to the White House, President Obama is meeting with the Fed chair and Biden to discuss the nation’s “longer-term economic outlook,” even though Yellen just told the entire nation that the economy was strong and had arrived nearly back at “full health.” The president says they will be “comparing notes.” Do their notes about the nation’s outlook disagree?

White House spokesman Josh Earnest said both Obama and Yellen are focused on ways to expand economic opportunities for the U.S. middle class. He called the meeting an opportunity for the two to “trade notes” while emphasizing that Yellen makes decisions about monetary policy independently. (SFGate)

Either such meetings are, indeed, extremely rare, or the White House doth protest to much because they spent more time emphasize what the president was not going to do than what he was going to do in assuring us he will not try to influence Yellen.

“The president has been pleased with the way that she has fulfilled what is a critically important job,” Earnest said. He added that Obama has “the utmost respect for the independent nature of her role.”

Earnest also said that, “even in a confidential setting” Obama would not “have a conversation that would undermine” the Fed’s ability to make “critical financial decisions independently.”

If such meetings with the Fed are so rare they require careful explanation, why the sudden call of the meeting, oddly timed between two specially called, emergency meetings of the Fed — or, at least, “expedited” meetings of the Fed. It can’t just be that the president wants to plan what he will be saying at this week’s G-20 conference, if he’s to speak there. That kind of planning would happen in advance because one knows the conference is coming. One striking peculiarity of the presidents meeting with the Fed is that it appeared to have been called immediately after the Fed announced Monday’s “expedited” meeting of the Board of Governors.

We are in an election cycle, and I already speculated in my last article that, with the anti-establishment, Fed-hating candidates, Sanders and Trump doing so well in their bids for the presidency we could be sure the Administration would be doing all it can along with the Fed to put some accelerant on this economy and forestall the recession that I believe we have already begun.

A recession would prove Trump and Sander right in their statements about a coming recession or the failed actions of the Fed and Wall Street to bring true recovery. So, the Fed and the President have every reason to work together to make sure such an announcement never happens. That could be what “comparing notes” on the economy’s future means — how do we assure the economy doesn’t fall apart in the next few months before the election since we have that common interest?

That would explanation why the White House is saying, in advance of any accusations, that the president isn’t trying to influence the Fed. They want to get ahead of the story. Of course, it could just be that they recognize such rare meetings will lead to the kind of speculation I’m now doing.

Tuesday’s specially called meeting of the Board of Governors under “expedited procedures”

Here is the announcement the Fed posted at the end of last week for Monday’s meeting (italics mine):

Advanced Notice of a Meeting under Expedited Procedures

It is anticipated that the closed meeting of the Board of Governors of the Federal Reserve System at 11:30 AM on Monday, April 11, 2016will be held under expedited procedures, as set forth in section 26lb.7 of the Board’s Rules Regarding Public Observation of Meetings, at the Board’s offices at 20th Street and C Streets, N.W., Washington, D.C. The following items of official Board business are tentatively scheduled to be considered at that meeting.

 

Meeting Date: Monday, April 11, 2016

Matter(s) Considered
1. Review and determination by the Board of Governors of the advance and discount rates to be charged by the Federal Reserve Banks.

A final announcement of matters considered under expedited procedures will be available in the Board’s Freedom of Information and Public Affairs Offices and on the Board’s Web site following the closed meeting.

 

Dated: April 7, 2016

The promised update after the meeting merely added,

Effective April 11, 2016, the meeting was closed to public observation by Order of the Board of Governors 1because the matters fall under exemption(s) 9(A)(i) of the Government in the Sunshine Act (5 U.S.C. Section 552b(c)), and it was determined that the public interest did not require opening the meeting.

One day later, the Fed put out an announcement of another special meeting to be held on Tuesday, after the suddenly scheduled meeting with the president:

Advanced Notice of a Meeting under Expedited Procedures

It is anticipated that the closed meeting of the Board of Governors of the Federal Reserve System at 2:00 PM on Tuesday, April 12, 2016, will be held under expedited procedures, as set forth in section 26lb.7 of the Board’s Rules Regarding Public Observation of Meetings, at the Board’s offices at 20th Street and C Streets, N.W., Washington, D.C. The following items of official Board business are tentatively scheduled to be considered at that meeting.

 

Meeting Date: Tuesday, April 12, 2016

Matter(s) Considered
1. Bank Supervisory Matter

A final announcement of matters considered under expedited procedures will be available in the Board’s Freedom of Information and Public Affairs Offices and on the Board’s Web site following the closed meeting.

 

Dated: April 8, 2016

O.K. Two expedited, closed meetings in a row with a meeting with the president and vice president in between that is so rare it required special White House defense as to what would not be happening in the meeting.

The first meeting was to talk about setting interest rates, which the FOMC will be meeting to consider again later this month, having just postponed their scheduled increase in March. The second meeting is more interesting. If you have served on board or worked with boards that go into closed session, you know they always use the most generic terminology possible when announcing the meeting for sharing in minutes what happened in the meeting.

The fact that it is a bank supervisory matter makes it sound like a particular concern, not a discussion about supervisory policy. Something is the matter somewhere that requires an immediate meeting right after another immediate meeting … behind closed doors. That something regards bank supervision. Board hold closed meetings when they have to talk about specific institutions or individuals with details that they don’t want to go public. This all comes very close to sounding like some bank somewhere is in trouble, and the trouble is big enough to call a special meeting of the very august board of governors right after they just had a special meeting, and if you know these kinds of guys, they don’t like wasting their time in excessive meetings.

Naturally, I am as curious as you probably are about why so many last-minute meetings behind closed doors and with the president and vice president at a time when all central bank heads will be meeting with finance ministers in Washington, D.C. So, I cast about for some possible related stories as to what could be the matter, and I found several very hot ones going on this same week.

The recession that has already begun — Atlanta Fed revises US GDP down AGAIN!

The president’s meeting with the Fed and the Fed’s meetings with the Fed were all called right after the Atlanta Federal Reserve Bank revised the revisions of its previous revisements to say the US economy now looks like it will report in for the first quarter at 0.1% growth.

It seems I cannot write fast enough to keep up with the Federal Reserve’s downward revisions of anticipated GDP growth for the first quarter of 2016. No sooner did I click “publish” on my last article where I noted they have just revised their estimates of GDP down to a 0.4% annualized growth rate than I read an article stating they had revised it again down to 0.1%!

Isn’t this where I said this quarter was going? That is within a rounding error of going negative and is less their margin of error for their data. It was only back in February that the Fed anticipated a cruising speed of 2% growth for GDP in the first quarter. They have revised that number down every week.

Of course, the fact that the Fed and the President called an unscheduled, closed-door meetings to include the VP does not mean there is any connection between the events, and I certainly am not concluding even for myself that there is something dire happening here … but stay with me. There is more to perk the ears.

US banks expected to report worst quarter financially since start of the Great Recession

That’s no small potatoes for a coincidence in timing. What if the numbers to be reported are even worse than has been anticipated, and the Fed is seeing bank trouble in some of those numbers and the President has received advanced information about some of those numbers. All speculation on my part, of course. What isn’t speculation on my part is that Wall Street is already predicting that this week’s quarterly bank reports are going to look something like the start of the Great Recession.

Analysts say it has been the worst start to the year since the financial crisis in 2007-2008 and expect poor first-quarter results when reporting begins this week…. Analysts forecast a 20 percent decline on average in earnings from the six biggest U.S. banks, according to Thomson Reuters I/B/E/S data. Some banks, including Goldman Sachs Group Inc (GS.N), are expected to report the worst results in over ten years. (Reuters)

Whoa! That means, for Goldman, even worse than any time just prior to or during the Great Recession. When you consider how bad the last decade has been, being worse than that is pretty bad. Moreover, the timing is considered unusually nasty:

This spells trouble for the financial sector more broadly, since banks typically generate at least a third of their annual revenue during the first three months of the year…. Bank executives have already warned investors to expect major declines…. Citigroup Inc (C.N) CFO John Gerspach said to expect trading revenue more broadly to drop 15 percent versus the first quarter of last year. JPMorgan Chase & Co’s (JPM.N) Daniel Pinto said to expect a 25 percent decline in investment banking. Several bank executives have warned about declining quality of energy sector loans.

 

“The first quarter is going to be ugly and we don’t think that necessarily gets recovered in the back half of the year,” said Jerry Braakman, chief investment officer of First American Trust, which owns shares of Citigroup, JPMorgan, Wells Fargo and Goldman. “There are a lot of challenges ahead.”

Yes, one of the biggest areas of bank troubles comes from defaults in the energy sector that I have been saying will play a major role in birthing this banking crisis. (Translate that primarily oil and gas.)

BofA’s Michael Contopoulos warned last week, it may be the worst default cycle in history with “cumulative losses over the length of the entire cycle could be worse than we’ve ever seen before.”

 

Over the weekend, the FT got the memo with a report that … said that “the global bond default rate by companies is running at its highest since 2009 with the US accounting for the vast majority, according to rating agency Standard & Poor’s. A further four defaults this week, with three coming from the troubled oil and gas sector, pushed the overall tally to 40 with a little over a quarter of 2016 done.” (Zero Hedge)

According to the Wall Street Journal, these defaults are from “massive energy loans that most investors didn’t even know about until recently.” Recovery of these bad debts is falling extremely fast.

The growth of the high-yield bond market allowed drillers to take on far more debt than in past booms, leaving them more vulnerable to default. The emergence of shale technology allowed companies to expand reserves and the loans backed by those properties. Some of those loans may now be underwater. (Bloomberg)

You can thank the Fed’s zero-interest policy for that easy credit bubble.

Is anyone starting to feel a little financial crisis deja vù? Last time it was declining housing-sector loans. This time, as I’ve been saying for the last few months we would soon see, it’s declining energy-sector loans. Looks like that is ready to materialize.

In code words, Wells Fargo tells us that their trench-worthy report has not even begun to fully write down the bad debts or move into foreclosures that would cause write-downs: (That is, at least, what I read in public bankerspeak.)

John Shrewsberry, Wells Fargo’s chief financial officer, said on a January call with analysts. “We were working with each customer to help them work through this. It doesn’t do us any good to accelerate an issue, or to end up as the holder of a number of oil leases as a bank.

This week and next is the big-bank reporting season. So, we should know right away if this is the next leg down in the Epocalypse, but you will probably have some coded language to look through. Something as big as this would certainly merit a flash meeting with the president and vice president, multiple meetings of the board of directors, and a G-20 financial summit in Washington along with meetings with the IMF and World Bank.

Not saying that’s what it is. Just sniffing out the kinds of stories that could be related to all these meetings, some planned earlier, others suddenly and somewhat secretively called.

Austrian bank failure echoes Great Depression

Five and a half years ago, I wrote an article here that mentioned how the Great Depression took its second and deepest plunge in 1931 because of the failure of a private Austrian bank named Credit Anstalt.

In May 1931, a Viennese bank named Credit-Anstalt failed. Founded by the famous Rothschild banking family in 1855, Credit-Anstalt was one of the most important financial institutions of the Austro-Hungarian Empire, and its failure came as a shock because it was considered impregnable…. The fall of Credit-Anstalt—and the dominoes it helped topple across Continental Europe and the confidence it shredded as far away as the U.S.—wasn’t just the failure of a bank: It was a failure of civilization.

Now, as I’ve been writing about the start of what I believe will be the the second and worst dip of the Great Recession, another Austrian bank is crumbling.

Austria created Heta Asset Resolution AG when it nationalized all the bad loans of Hypo Alpe-Adria-Bank International five years ago to rescue the bank and depositors by creating a “bad bank” to contain the problems. It went down something like this:

Hypo Alpe-Adria bank, when it was still owned by the small Austrian state of Carinthia, was a cesspool of corruption. It involved bankers, politicians, and powerbrokers in Austria and the Balkans. It was the perfect union of money and power. Investigators found 160 instances of suspected fraud….

 

Six of the bank’s former executives have been convicted of crimes.

 

“I’m not aware of a criminal case bigger than this one,” explained Christian Böhler, whose forensics team started investigating the bank in 2011. “It was a mix of greed, criminal energy, and utter chaos.” (Wolf Street)

Hypo’s troubles began, much as Credit Anstalt’s had before it, when it was required to adjust its books to reflect the true value of its collateral assets after the value of real estate in southeastern Europe collapsed. Everything fell apart upon the realization of how little it was actually worth.

Austria’s central bank governor Ewald Nowotny and his task force recommended that Hypo’s toxic assets of €17.8 billion should be put into a “bad bank.” But to stop the drag on public finances, the federal government should not guarantee Hypo’s bonds. At the time, Austrian taxpayers had already plowed €4.8 billion into Hypo to bail out these bondholders.

 

He then explained on TV to incredulous Austrians that this deal would nudge the budget deficit over the 3% limit set by the Maastricht Treaty and push the government’s debt from 74.4% of GDP to 80% of GDP. This one rotten, state-owned bank in Carinthia was causing this much damage to the country’s finances!

The government, at that point, set a one-year moratorium on all payments to the “bad bank’s” bondholders.

After burning through 5.5 billion euros of taxpayer money to no avail and discovering a 7.6-billion-euro hole in its balance sheet still remained to be filled, Finance Minister Hans Joerg Schelling ended support in March 2015. Surprise, surprise, the bad bank created by the government to put a fence around all the bad debts of the original bad bank became nothing but a black hole of debt, swallowing all money poured into it with nothing to show for the effort. That didn’t stop Schelling from claiming the nationalized bank was in good health in order to put a good face on things as leaders are inclined to do when dealing with really bad stuff in order to protect the public from a scare.

Yesterday, under the first application of Europe’s new forced “bail in” procedures, Austria ordered a haircut to the banks bondholders. Sighs. This is apparently what happens if your money is still locked up in a bank with “good health.”

It does, indeed, sound a tad bit like Credit Anstalt. Now the moratorium is up, and it’s time to start dishing out the bad news to the bondholders under Europe’s new rules:

Austria officially became the first European country to use a new law under the framework imposed by Bank the European Recovery and Resolution Directive to share losses of a failed bank with senior creditors as it slashed the value of debt owed by Heta Asset Resolution AG.

 

The highlights from the announcement…

  • a 100% bail-in for all subordinated liabilities,

  • a 53.98% bail-in, resulting in a 46.02% quota, for all eligible preferential liabilities,

  • the cancellation of all interest payments from 01.03.2015, when HETA was placed into resolution pursuant to BaSAG,

  • as well as a harmonisation of the maturities of all eligible liabilities to 31.12.2023. ((SuperStation95)

This is some much-needed relief from how things used to work:

Throughout the Financial Crisis, and since, there has been one rule: bank bondholders will always be bailed out at the expense of everyone else. The sanctity of bank bonds reigned supreme, no matter what government and central banks had to do to keep it that way. Bank bonds weren’t allowed to be judged by the capital markets. They were simply untouchable. Underpaid and overtaxed workers would have to bail out bank bondholders when these recklessly managed banks collapsed.

 

That was the rule in the US when the Fed, and to a lesser extent the federal government, bailed out the banks. And that was the rule during the debt crisis in Europe. (Wolf Street cont.)

Europe’s new rules were intended to make sure that depositors did not take all the loss and that tax payers don’t absorb all the loss. Heta, because it was a government created “bad bank,” apparently does not have depositors, as it was the creditors who were pooled into the “bad bank” who take the hit. The preferred creditors at the Austrian bank have been told they will have to take a 54% haircut, meaning the bonds they have purchased will recover forty-six cents on the euro.

The big-money (preferred) creditors of the bank, however, don’t like the new rules. They complained and are still holding out for ninety-two cents on the euro. That doesn’t bode well for anything being left for the smaller guys, whose money will, in the very least, be kept in a lockbox for seven years because payouts to the non-Majors don’t wind up until 2023. Major bond-holders demanding a smaller hit include Pimco, Commerzbank and the already deeply troubled Deutsche Bank. (Anybody see how things can quickly move down the line like dominoes when you consider the size of some of the worried creditors who are complaining that the hit will be too hard for them?)

The “subordinated liabilities,” as I understand the complex breakdown (for which I have been unable to find any clear definitions) appears to include bondholders who took a second position to the “preferred liabilities” in getting their money back and third-party investors in the bank. It also appears to include the partners in the bank. If so, then this is exactly how bank failures should happen. The investors are slated to lose 100% of their money first, allowing for the smaller loss by the bond holders.

It is the investors who elect the board that governs the bank and who fill the board positions and who make the decisions of who will be CEO; so, of course, they should lose all of their money before anyone else does. Creditors (bond holders) should be next, as they are often large institutions like PIMCO that have more than enough capacity to investigate risk before investing. Depositors should always be last, as most of them have no capacity whatsoever to investigate the real risk of banks and nowhere near enough money to put into a bank to make it worth a real investigation of risk. They are acting in trust … and particularly in trust that government regulators are doing their job.

Too bad the United States doesn’t operate this way!

What kind of spinoff can the settlement of Heta have to other institutions? Well, last month, the Association of German Banks had to bail out a small bank called Duesseldorfer Hypothekenbank AG because its hit as a creditor of Heta would have killed it. Though Duesseldorfer is a small bank, it was apparently deemed too big to fail because, once again, government bailouts went to the rescue.

Given that such an agreement happened on Sunday afternoon, and that central banks and regulatory bodies usually talk with other national bodies that may be affected, I have to wonder if the thought of how Europe might react on Monday had anything to do with Monday’s sudden meetings of the Fed.

Italian banks on final crash-landing approach

As if all that were not bad enough for the start of a week in banking news, Italy’s minister of finance called an emergency meeting over the past weekend of Italian bankers to engage “last resort” measures for dealing with 360-billion euros of bad loans in banks that have only 50 billion in capital.

Finance minister Pier Carlo Padoan has called a meeting in Rome on Monday with executives from Italy’s largest financial institutions to agree final details of a “last resort” bailout plan.

 

Yet on the eve of that gathering, concerns remain as to whether the plan will be sufficient to ringfence the weakest of Italy’s large banks….

 

Italian bank shares have lost almost half their value so far this year amid investor worries over a €360bn pile of non-performing loans — equivalent to about a fifth of GDP. (Contra Corner)

Could that have had anything to do with the flurry of bank meetings in the US. I have no idea, but I do have to wonder, with so much smoke everywhere in the banking industry, is there a fire we need to know about? You can be sure, we’ll be the last to know, and any announcement of what’s really going down will hit like Bear Sterns or Lehman Brothers. One day, all the central bankers are talking like things are fine. The next day a major vertebrae is knocked out of the nation’s financial spine.

Or maybe presidents and central bankers are just making sure things generally hold together through the election cycle. Such a bad-news week for banks around the world certainly doesn’t sound like all is well as our smiling central bankers, president and V.P, say it is. I don’t know any top secrets to reveal, but the smoke is killing me.

 

http://www.zerohedge.com/news/2016-04-12/what-world-going-banks-week-emergency-meetings-banker-summits-crashing-european-bank

HERE WE GO! Austria Initiates First Ever Bank Bail-In! The Economic Collapse Is Here


RED ALERT! THE SHUT DOWN HAS BEGUN!!!!!!!

On Sunday, April 10, 2016, the Austrian Financial Market Authority (FMA) issued a press release for the resolution [pursuant of the Bank Recovery and Resolution Act—BaSAG – Bundesgesetz über die Sanierung und Abwicklung von Banken] of the Heta Asset Resolution AG, announcing involuntary “bail-in” measures for creditors, and even depositors.

Said to be the first “official” proposed “bail-In” of creditors, these measures included cuts to Heta’s senior liabilities by up to 54%, with extended maturities of all eligible debt to Dec. 31, 2023—to help cover an 8 billion-euro ($9.1 billion) hole in Heta’s balance sheet. This bail-in announcement was made shortly after the destabilization of the Hypo Alpe Adria bank, due to the European debt crisis of 2014.

Couple that with the ongoing economy status in Greece, Italy, Portugal, China, Japan, Venezuela, and Cyprus, and it’s NOT looking good… Because remember, these are only just TESTS…

It’s only a matter of time until ALL of this reaches American shores, and it’s EVEN at the Door.

 

ALSO SEE — Bail-Ins: https://youtu.be/CyhVVATm-ws
ALSO SEE — Banking Glitches: https://youtu.be/rK28AGtBcaM
ALSO SEE — Economic Collapse IMMINENT! https://youtu.be/p8Mds89fyTk

‘Our Corrupt, Fascist Government EXPOSED’ Jason Burack ~ SGTreport.com


Jason Burack from the Wall Street For Main Street You Tube channel joins me to dissect the death of the Republic of the United States – and the end of the rule of law. And we dissect the Panama Papers which are aimed at Putin, Assad and the Prime Minister of Iceland – all of whom are enemies of the West and the banks which control it.
Thanks for tuning in.

Jason’s You Tube channel:
https://www.youtube.com/user/WallStFo…

Watch: BILLIONS IN CHANGE
https://www.youtube.com/watch?v=YY7f1…

Watch :The Veneer of Justice in a Kingdom of Crime:
https://www.youtube.com/watch?v=eHgbR

For REAL News & Information 24/7:
http://sgtreport.com/
http://thelibertymill.com/

The Panama Papers: Victims of Offshore ~ ICIJ


The Panama Papers is a global investigation into the sprawling, secretive industry of offshore that the world’s rich and powerful use to hide assets and skirt rules by setting up front companies in far-flung jurisdictions.
Based on a trove of more than 11 million leaked files, the investigation exposes a cast of characters who use offshore companies to facilitate bribery, arms deals, tax evasion, financial fraud and drug trafficking.
Behind the email chains, invoices and documents that make up the Panama Papers are often unseen victims of wrongdoing enabled by this shadowy industry. This is their story.
For more, go to panamapapers.icij.org
EXECUTIVE PRODUCER: Hamish Boland-Rudder
DIRECTOR/PRODUCER/AUDIO EDITOR: Carrie Ching
ANIMATION ARTIST: Arthur Jones
REPORTER: Will Fitzgibbon

NARRATOR: Eleanor Bell Fox

SUPPORTED BY THE PULITZER CENTER ON CRISIS REPORTING


NARRATOR: Eleanor Bell Fox

SUPPORTED BY THE PULITZER CENTER ON CRISIS REPORTING

 

The Largest Leak In History, What You Need To Know About The Panama Papers ~ WeAreChange

In this video Luke Rudkowski covers the breaking news of the Panama Papers and its implications. We go over what the leaks reveal and its political motivation. Stay tuned for more on this issue as it is breaking now. Support us on Patreon so we can continue doing this critical important work for you.

Sources

https://twitter.com/Snowden/status/71…

http://www.theguardian.com/news/2016/…

https://twitter.com/wikileaks/status/…

https://en.wikipedia.org/wiki/S%C3%BC…

http://panamapapers.sueddeutsche.de/a…

http://panamapapers.sueddeutsche.de/en/

https://panamapapers.icij.org/video/

https://panamapapers.icij.org/the_pow…

https://panamapapers.icij.org/?utm_co…

https://au.news.yahoo.com/thewest/a/3…

http://www.bostonglobe.com/news/world…

http://www.theguardian.com/news/2016/…

http://www.thedailybeast.com/articles…

https://twitter.com/IndianExpress/sta…

http://www.theguardian.com/us-news/20…

EXCLUSIVE: WORLD’S BIGGEST BRIBE SCANDAL, PART 1 “UNAOIL: THE COMPANY THAT BRIBED THE WORLD” ~ HUFFPOST


 

In the list of the world’s great companies, Unaoil is nowhere to be seen. But for the best part of the past two decades, the family business from Monaco has systematically corrupted the global oil industry, distributing many millions of dollars worth of bribes on behalf of corporate behemoths including Samsung, Rolls-Royce, Halliburton and Australia’s own Leighton Holdings.

Now a vast cache of leaked emails and documents has confirmed what many suspected about the oil industry, and has laid bare the activities of the world’s super-bagman as it has bought off officials and rigged contracts around the world.

A massive leak of confidential documents has for the first time exposed the true extent of corruption within the oil industry, implicating dozens of leading companies, bureaucrats and politicians in a sophisticated global web of bribery and graft.

After a six-month investigation across two continents, Fairfax Media and The Huffington Post can reveal that billions of dollars of government contracts were awarded as the direct result of bribes paid on behalf of firms including British icon Rolls-Royce, US giant Halliburton, Australia’s Leighton Holdings and Korean heavyweights Samsung and Hyundai.

The investigation centres on a Monaco company called Unaoil, run by the jet-setting Ahsani clan. Following a coded ad in a French newspaper, a series of clandestine meetings and midnight phone calls led to our reporters obtaining hundreds of thousands of the Ahsanis’ leaked emails and documents.

The trove reveals how they rub shoulders with royalty, party in style, mock anti-corruption agencies and operate a secret network of fixers and middlemen throughout the world’s oil producing nations.

Corruption in oil production – one of the world’s richest industries and one that touches us all through our reliance on petrol – fuels inequality, robs people of their basic needs and causes social unrest in some of the world’s poorest countries. It was among the factors that prompted the Arab Spring.

Fairfax Media and The Huffington Post today reveal how Unaoil carved up portions of the Middle East oil industry for the benefit of Western companies between 2002 and 2012.

In part two we will turn to the impoverished former Russian states to reveal the extent of misbehaviour by multinational companies including Halliburton. We will conclude the three-part investigation by showing how corrupt practices have extended deep into Asia and Africa.

The leaked files reveal that some people in these firms believed they were hiring a genuine lobbyist, and others who knew or suspected they were funding bribery simply turned a blind eye.

The leaked files expose as corrupt two Iraqi oil ministers, a fixer linked to Syrian dictator Bashar al-Assad, senior officials from Libya’s Gaddafi regime, Iranian oil figures, powerful officials in the United Arab Emirates and a Kuwaiti operator known as “the big cheese”.

Western firms involved in Unaoil’s Middle East operation include some of the world’s wealthiest and most respected companies: Rolls-Royce and Petrofac from Britain; US companies FMC Technologies, Cameron and Weatherford; Italian giants Eni and Saipem; German companies MAN Turbo (now know as MAN Diesal & Turbo) and Siemens; Dutch firm SBM Offshore; and Indian giant Larsen & Toubro. They also show the offshore arm of Australian company Leighton Holdings was involved in serious, calculated corruption.

The leaked files reveal that some people in these firms believed they were hiring a genuine lobbyist, and others who knew or suspected they were funding bribery simply turned a blind eye.

But some knew much more. A handful of senior insiders at firms such as Spanish company Tecnicas Reunidas, French firm Technip and drilling giant MI-SWACO, not only actively supported bribery but pocketed their own kickbacks; US defence giant Honeywell and Australia’s Leighton Offshore agreed to hide bribes inside fraudulent contracts in Iraq; a Rolls-Royce manager negotiated a monthly kickback for leaking information from inside the British firm.

Many of those revealed to have been culpable, including the wealthy Ahsani family itself, which runs Unaoil, continue to operate with impunity.

The files expose the betrayal of ordinary people in the Middle East. After Saddam Hussein was toppled, the US declared Iraq’s oil would be managed to benefit the Iraqi people. Today, in part one of the ‘Global Bribe Factory’ expose, that claim is demolished.

THE BRIBE FACTORY

It is the Monaco company that almost perfected the art of corruption.

It is called Unaoil and it is run by members of the Ahsani family – Monaco millionaires who rub shoulders with princes, sheikhs and Europe’s and America’s elite business crowd. At the head are family patriarch Ata Ahsani and his two dashing sons, Cyrus and Saman. Their charities support the arts and children, and Ahsani family members sit on the boards of NGOs with ex-politicians and billionaires. Ten years ago, a spreadsheet showed they had cash, shares and property worth 190 million euros. They are members of the global elite.

Left to right: Saman, Cyrus and Ata Ahsani

How they make their money is simple. Oil-rich countries often suffer poor governance and high levels of corruption. Unaoil’s business plan is to play on the fears of large Western companies that they cannot win contracts without its help.

The multi-million dollar fees Unaoil takes from its clients are funnelled into an industrial scale bribery operation which further entrenches corruption among the powerful few.

Its operatives then bribe officials in oil-producing nations to help these clients win government-funded projects. The corrupt officials might rig a tender committee. Or leak inside information. Or ensure a contract is awarded without a competitive tender.

If you believe Ata Ahsani, it’s all above board: “We are not in the business of fixing jobs for people. Our work is basically very basic. What we do is integrate Western technology with local capability,” he told Fairfax Media and The Huffington Post.

Did Unaoil bribe public officials? “The answer is absolutely no”.

But the evidence of their own internal email cache, leaked to Fairfax Media and The Huffington Post, clearly demonstrates that the multi-million dollar fees Unaoil takes from its clients are funnelled into an industrial scale bribery operation which further entrenches corruption among the powerful few.

Bankers in New York and London have facilitated Unaoil’s money laundering, while the Ahsanis have built a major property investment business in central London. Since 2007, Unaoil has been certified by anti-corruption agency Trace International. This in itself raises serious questions about the worth of such international accreditation.

But for the Western companies confronted with questions under anti foreign bribery laws in their own jurisdictions, Unaoil appears to be a reputable and discrete middle-man, giving listed businesses what is known as “plausible deniability”.

Companies approached by Fairfax Media and The Huffington Post about their contracts with Unaoil have emphasised they have strong anti-corruption policies, and are committed to investigating their dealings with Unaoil.

IRAQ

Unaoil paid at least $25 million in bribes via middlemen to secure the support of powerful officials — while complaining internally that they were “assholes, and greedy”

After the US led coalition won the second gulf war, it went to guard the oil ministry – leaving the Baghdad museum undefended to be looted of its treasures.

But they did not save the oil industry from thieves. The Unaoil files reveal that Western companies, in concert with Iraq’s new elite, themselves began a sustained campaign of looting.

Unaoil paid at least $25 million in bribes via middlemen to secure the support of powerful officials – while complaining internally that they were “assholes, and greedy”.

Between 2004 and 2012, Unaoil corruptly influenced a Who’s Who of the country’s oil industry: the Deputy Prime Minister of Iraq turned education minister Hussain al-Shahristani; Oil Minister Abdul Kareem Luaibi (who was replaced in 2014); the Director General of the South Oil Company, Dhia Jaffar al-Mousawi, who in 2015 became a deputy minister; and top oil official Oday al-Quraishi.

Iraq: The bad old days of corruption were meant to be over PLAY VIDEO

The most senior politicians received multi-million dollar lump sums, while those lower down the food chain were paid lesser amounts. Quraishi, who oversaw Iraq’s most important oil industry expansion project, pocketed a monthly kickback of $US6000 – “$5K for him, and $1k he needs for presents to people within” – along with additional large pay-offs.

The minister, Dr Shahristani, who is now Iraq’s education minister, denied he had been involved in any wrongdoing. Other Iraqi officials did not respond to requests to comment.

Unaoil also bribed senior insiders working for the international oil companies which were contracted by Iraq to manage its oil fields. The leaked files reveal rampant corruption inside Italian oil giant Eni, which ran the tender processes for contractors working on the giant Zubair oil field.

Unaoil’s clients in Iraq included British giant Rolls-Royce, US firms FMC Technologies and Cameron, Italy’s Saipem, German company MAN Turbo, the US listed Weatherford, Dutch company SBM Offshore and Australia’s Leighton Offshore.
IRAN

Everything works and progresses on connections, relations with special talent”. So wrote an Iranian fixer, part of Unaoil’s remarkable network of insiders dedicated to paying and pocketing bribes. After the recent relaxing of United Nations, US and European sanctions, this network has become even more valuable.

In 2006, this Unaoil operative complained in emails that one of the company’s clients, UK firm Weir Pumps (now owned by US firm SPX), owed him hundreds of thousands of dollars which he had promised to use in part to sling to others in Iran.

“[It] is the end of Iranian new year here, expectations high, I am short in cash, and about five million pounds of business with Weir [is] in danger… Because I can not fulfill my obligations to my team of Supporters.”

If the money was not forthcoming, he warned, Weir Pumps risked “melting like a piece of ice, day by day.”

“…over half a million dollars of my consultancy fee… I have already spend it for the promotion of their businesses in Iran.”

A separate set of leaked memos from 2006 said Unaoil would pay “10 k/month” to secure the support of the managing director of a firm chaired by a high ranking Iranian official, part owned by an Iranian government entity and overseen by a board with “political influence.”

“MD [managing director]… wants $10k/month. AA [Ata Ahsani of Unaoil] agree to this given his excellent connections.”

Unaoil’s Iranian network – which was also used to assist firms such as ABB, Elliott and Japan’s Yokogawa – extends beyond the oil industry. In 2011, Unaoil helped solve a dispute involving one of its Australian clients by reaching out to “several influential contacts… including the head of the Iranian Police”.

Prior to the recent easing of sanctions, Unaoil used strategies including front companies to avoid the scrutiny of Western officials. It advised its corrupt fixers to not wire funds using US dollars and to use companies “not having the name Iran in it”.

LIBYA

“ … what type of Baksheesh is needed to present to these men in order to get work”

In 2004, when the West began removing sanctions against Libya, and the regime of Colonel Gaddafi started dealing with foreign companies, Unaoil stood ready.

By 2011, its network of corrupt insiders included officials and front men able to influence the dealings of many of Libya’s most important oil and gas agencies.

In late 2008, a Canadian drilling firm, Canuck Completions, told Unaoil it was “curious about … what type of Baksheesh is needed to present to these men in order to get work” in Libya.

Among Unaoil’s corrupt insiders was the powerful Libyan official, Mustafa Zarti, a confidant for the Gaddafi regime. Unaoil’s files describe Zarti as “good friends of President Ghadafi’s [sic] son of Libya and have lot of influence in lobbying the jobs in Libya”. Unaoil agreed to secretly pay Zarti millions of dollars. In return he would use his influence to advantage Unaoil’s clients.

“MZ [Zarti] sits on the board of LFIC [Libyan Foreign Investment Committee] … which controls… Oil fund ($6bn) … He sees his role as us executing and him fixing issues we come across. MZ has agreed to bring all his oil & gas work to us,” a September 2006 Unaoil memo said.

Unaoil’s multinational clients in Libya included Malaysian giant Ranhill, Korean conglomerate ISU and Spanish company Tecnicas Reunidas.

SYRIA AND YEMEN

In Syria, Unaoil turned to a middleman close to the regime of Syrian president Bashar al-Assad.

In 2008 and 2009, Unaoil promised the man 2.75 million euros who helped its British client Petrofac win contracts from Assad regime petroleum companies. “Strictly confidential” emails from 2008 show this middleman promised to pay others to win these contracts.

But when he was not paid on time, he complained the delays were causing problems with “friends” in Syria.

“It is becoming very unpleasant [sic] for me not delivering as expected,” he wrote to Unaoil in December 2009.

Petrofac is understood to be unaware of Unaoil’s involvement in its Syrian dealings and in response to questions said it “aspires to the highest standards of ethical behaviour”.

In Yemen, Unaoil paid millions to a. Swiss account belonging to fixer and businessman Haitham Alaini, the son of the former Yemeni prime minister. In return, Alaini used his contacts in the Yemen to help Unaoil.

KUWAIT AND THE UAE

In Kuwait, Unaoil had on its payroll a powerful official who they called “the big cheese.”

To direct a contract to Unaoil’s long term client in the Middle East, US firm FMC Technologies, Unaoil wanted a payment of $2.5 million. It then planned to assign a middleman to handle “the big cheese in Kuwait and to decide what portion… should go to that man”.

In the UAE, Unaoil’s network included a public official with links to the Crown Prince of Abu Dhabi. The leaked Unaoil files reveal this official had commercial dealings with the Ahsanis who, in return, were seeking the official’s backing in the region. This included an entree to a project funded by the office of “His Highness Sheikh Mohammed Bin Zayed”.

Unaoil corrupted a senior official in a subsidiary of Abu Dhabi’s National Oil company. This insider rigged a tender panel for a Unaoil client, Indian conglomerate Larsen & Toubro.

 

Source: http://www.theage.com.au/interactive/2016/the-bribe-factory/day-1/the-company-that-bribed-the-world.html

 

 

The content does not necessarily reflect my own personal viewpoint or opinions. It is up to the viewer to decide.

No copyright infringement is ever intended.

FAIR USE STATEMENT:
This site may contain copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in an effort to advance understanding of environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. we believe this constitutes a ‘fair use’ of any such copyrighted material. Fair use: Copyright Disclaimer Under Section 107 of the Copyright Act 1976, allowance is made for “fair use” for purposes such as criticism, comment, news reporting, teaching, and research. Fair use is a use permitted by copyright statute that might otherwise be infringing. Non-profit, educational, or personal use tips the balance in favor of fair use. We believe that because we are a news/education/research website, that our use of such copyrighted material falls under “fair use”.

If you are a legal copyright holder or a designated agent for such and you believe that content residing on or accessible through our website infringes a copyright and falls outside the boundaries of “Fair Use”, please send a notice of infringement by contacting us at: {ascendingstarseed at gmail dot com} We will respond and take necessary action immediately. If notice is given of an alleged copyright violation we will act expeditiously to remove or disable access to the material(s) in question.

We believe in the free-flow of information, and this site may feature content that is not created by us, including articles, videos, and images. All 3rd party material posted on this website is copyright to the respective owners/authors.

http://www.ascendingstarseed.wordpress.com makes no claim of copyright on such material.

Two more TierOne Bank executives headed to federal prison


Join CEO for hiding $100 million in losses

Cynthia Barraza
Prison jail bars

Two former TierOne Bank executives were sentenced Thursday to federal prison for their roles in a conspiracy plot to cover up loan issues. It’s being called “the largest failure in Nebraska’s history,” according to the office of the Special Inspector General for the Troubled Asset Relief Program.

U.S. District Judge John Gerrard of the District of Nebraska, sentenced James Laphen, TierOne’s former president and chief operating officer, to 34 months in prison, and the bank’s former chief credit officer, Don Langford, to 21 months in prison.

“Senior bank officials who keep two sets of books will be held accountable for their crimes, and the court’s sentencing of two bank officials to prison today is proof of that,” said Special Inspector General for TARP Christy Goldsmith Romero in a press statement.

“As the President of TierOne Bank, Laphen engaged in a cover-up conspiracy directed by bank CEO Gil Lundstrom to understate losses and use unrealistic loan collateral values to make it appear that the bank met required capital ratios,” added Romero.

“Chief Credit Officer Langford conspired with them to create a second set of books for regulators — one that hid astronomical write downs in loans — in what bank officers referred to as ‘smoke and mirrors’ and ‘hiding the ball.’ TARP capital was not designed to fund fraud, and SIGTARP stands united with DOJ Criminal Division to fight crime related to TARP,” concluded Romero.

According to the Lincoln Journal Star:

Laphen said he is “deeply ashamed” of his role and that he prays daily for investors and employees who were affected. TierOne stockholders lost tens of millions of dollars, while more than 200 employees lost their jobs when the bank was taken over by Great Western Bank.

“I can’t express enough the feelings of remorse I have,” Laphen told the court. “I wish I could have been stronger and braver and done the right thing.”

In addition to his prison sentence, Laphen was fined $200,000. He also will face two years of supervised release when he finishes his sentence and will be required to pay restitution, the amount of which is still to be determined.

The bank was shut down by the Federal Deposit Insurance Corp. in 2010 after it disclosed $120 million in loan losses and its subsequent delisting from the NASDAQ exchange. At the time of the closure, TierOne had more than 750 employees working at its headquarters in Lincoln and its 69 branch offices located in Nebraska, Iowa and Kansas.

On Wednesday, Judge Gerrard ordered 74-year-old former TierOne CEO Gilbert Lundstrom to 11 years in prison.

The Lincoln Journal Star reported that Laphen and Langford will both begin serving their time in June.

THE LOST HEGEMON: NWO From Clinton To Trump — F. William Engdahl ~ SGTreport.com


Best-selling author F. William Engdahl joins me to discuss his latest book ‘The Lost Hegemon: Whom The Gods Would Destroy. This gripping interview encompasses the crimes of the Clinton and Bush families and the rise of Trump who William calls a “mafia don”. So buckle up and thanks for tuning in.

Support the author, buy the new book here: http://www.williamengdahl.com/

Paul Craig Roberts-Neoconservatives Driving World to War ~ Greg Hunter


Dr. Paul Craig Roberts has a new book out titled “The Neoconservative Threat To World Order.” In it, he talks about the dreadful shape of the global economy and how war might be forced on the world. Dr. Roberts, who is also a former Assistant Treasury Secretary, says, “The Neoconservative ideology is American world hegemony . . . this means you have to subdue the others, and this includes Russia and China. These are two nuclear powers with massive military capabilities, and they are in the way of the Neoconservative agenda of World Empire . . . . So, the Neoconservatives are driving the United States and Western Europe into conflict with Russia and China. Russia and China are not going to give up and be American vassals. . . . Our economy is a house of cards. It’s held up by the Federal Reserve. The question is how long can they hold it up? . . . There is no way around the coming war unless the American empire begins unraveling, which it could do.”

Join Greg Hunter of USAWatchdog.com as he goes One-on-One with Dr. Paul Craig Roberts, author of the new book “The Neoconservative Threat To World Order.”

All links can be found on USAWatchdog.com: http://usawatchdog.com/criminal-banke…

http://usawatchdog.com/donations/

Central Banks Are Desperate | Helicopter Money: Global Central Banks Consider Distributing Money Directly To The People


Reblogged from StillnessInTheStorm

Central banks are supposed to be the great economic watchdogs. They claim to slow down bubbles by increasing interest rates, and stimulate the economy by lowering them. But the alleged benevolence of these institutions is an illusion.

The true purpose of central banks is to drain energy and wealth out of the population they “service.” Once a region has been sufficiently liquidated, then the central bankers can declare themselves landlords over the once free people, who have now become wage-slaves to ruling oligarchs.

The European Union it seems is about to transition into this form of modern feudalism, but to be sure, the whole planet is on the same course.

Related The Slavery of Feudalism Replaced with False Capitalism | Financial Feudalism

Related Modern Slavery | The True Reason behind the 40-Hour Work Week and Why Most People Are Economic Slaves

Helicopter Money is a catchall term that refers to when a bank distributes money or stimulus directly into the hands of the people or corporations. There have already been several EU nations that have discussed distributing basic incomes to the population.

Related Income Freedom or More Slavery? | Finland is Considering Giving Every Citizen A Basic Income

On the surface, it sounds like a reasonable solution to the economic hardship suffered by billions. A basic income might actually be a viable option if it is handled properly. But that’s the problem. Left in the hands of criminal banking institutions it wouldn’t be. The term helicopter money implies that everyone would get a fair and equal share, but I suspect that wouldn’t really be the case.

For example, if one group of people is working on sustainability projects that would eventually allow them to live independent of the central bank, would the bankers fund this sector of the population? No, they probably wouldn’t.

Related How and Why “The Money Masters” Took Control (Full Documentary)

So while on the surface helicopter money, or a basic income for all, sounds like it could be a good thing for the average Joe, it will most likely further entrench the plutocratic meritocracy that has divided the masses for eons. This is, of course, the economic class system of our world today, one that seeks to pit brother against brother and mother against daughter. It’s a grand game of musical chairs with the global elite always having a seat at the table and the average person becoming more dependent on the system.

But the bigger point is that when a nation or social group has becomes so hopelessly dependent on a central bank for economic growth — as most of the world’s nations have become — then it indicates the global economy is in free fall. It is only a matter of time before the whole house of cards collapses and a new financial system will come in to take its place.

Now the question is, what will this financial system look like? I suspect the answer depends on humanity’s participation.

Related Fedcoin and E Dollar, Understanding: Interest, Usury, Devaluation and Quantitative Easing | Central Banks Announce Introduction of E Dollar

If we continue to do nothing, if we continue to let the global elite push their plans on to the unwitting masses — who are unable to make sound choices due to their ignorance — then the bankers will usher in more draconian policies, and a dark NWO is seemingly assured. Yet if those with key knowledge and understanding become active and share this with their fellows in the measure and form they are able to receive it, then when the economy finally collapses, the people will call for a truly honorable and fair system.

We are in a critical moment of change in history, and the future of life on this planet will be decided by those who are living right now. I for one don’t want to wake up one day to find out I had the chance to make a difference and didn’t. Future generations will look back and ask us what we did to make the world a better place, I would like to tell them I did everything I could.

The good news is as the economy continues to implode the sleeping masses will be more open to receiving the truth, we need only take the time to develop rapport so as to share it with them.

– Justin

SourceThe Economic Collapse Blog

By Michael Snyder

Should central banks create money out of thin air and give it directly to governments and average citizens? If you can believe it, this is now under serious consideration. Since 2008, global central banks have cut interest rates 637 times, they have injected 12.3 trillion dollars into the global financial system through various quantitative easing programs, and we have seen an explosion of government debt unlike anything we have ever witnessed before. But despite these unprecedented measures, the global economy is still deeply struggling. This is particularly true in Japan, in South America, and in Europe. In fact, there are 16 countries in Europe that are experiencing deflation right now. In a desperate attempt to spur economic activity, central banks in Europe and in Japan are playing around with negative interest rates, and so far they seem to only have had a limited effect.
 

Related “This Is An Extremely Serious Problem” – Dollar Funding Shortage Hits Record In Japan

So as they rapidly run out of ammunition, global central bankers are now openly discussing something that might sound kind of crazy. According to the Telegraph, central banks are becoming increasingly open to employing a tactic known as “helicopter money”…

Faced with political intransigence, central bankers are openly talking about the previously unthinkable: “helicopter money”.

A catch-all term, helicopter drops describe the process by which central banks can create money to transfer to the public or private sector to stimulate economic activity and spending.

Long considered one of the last policymaking taboos, debate around the merits of helicopter money has gained traction in recent weeks.

Do you understand what is being said there?

The idea is basically this – central banks would create money out of thin air and would just give it to national governments or ordinary citizens.

So who would decide who gets the money?

Well, they would.

If you are anything like me, this sounds very much like Pandora’s Box being opened.

But this just shows how much of a panic there is among central bankers right now. They know that we are plunging into a new global economic crisis, and they are desperate to find something that will stop it. And if that means printing giant gobs of money and dropping it from helicopters over the countryside, well then that is precisely what they are going to do.

In fact, the chief economist at the European Central Bank is quite adamant about the fact that the ECB can print money out of thin air and “distribute it to people” when the situation calls for it…

ECB chief Mario Draghi has refused to rule out the prospect, saying only that the bank had not yet “discussed” such matters due to their legal and accounting complexity. This week, his chief economist Peter Praet went further in hinting that helicopter drops were part of the ECB’s toolbox.

“All central banks can do it“, said Praet. “You can issue currency and you distribute it to people. The question is, if and when is it opportune to make recourse to that sort of instrument“.

Apparently memories of the Weimar Republic must have faded over in Europe, because this sounds very much like what they tried to do. I don’t know why anyone would ever want to risk going down that road again.

Here in the United States, the Federal Reserve is not openly talking about “helicopter money” just yet, but that is only because the stock market is doing okay for the moment.

Most Americans don’t realize this, but the primary reason why stocks are doing better in the U.S. than in the rest of the world is because of stock buybacks. According to Wolf Richter, corporations spent more than half a trillion dollars buying back their own stocks over the past 12 months…

During the November-January period, 378 of the S&P 500 companies bought back their own shares, according to FactSet. Total buybacks in the quarter rose 5.2% from a year ago, to $136.6 billion. Over the trailing 12 months (TTM), buybacks totaled $568.9 billion.

When corporations buy back their own stocks, that means that they are slowly liquidating themselves. Instead of pouring money into new good ideas, they are just returning money to investors. This is not how a healthy economy should work.

But corporate executives love stock buybacks, because it increases the value of their stock options. And big investors love them too, because they love to see the value of their stock holdings rise.

So we will continue to see big corporations cannibalize themselves, but there are a couple of reasons why this is starting to slow down.

Number one, corporate profits are starting to fall steadily as the economy slows down, so there will be less income to plow into these stock buybacks.

Number two, many corporations have used debt to fund buybacks, but now it is getting tougher for corporations to get new funding as corporate defaults rise.

As stock buybacks slow, this is going to put downward pressure on the market, and we will eventually catch up with the rest of the planet. At this point, many experts are still calling for stocks to fall by another 40, 50 or 60 percent from current levels. For example, the following comes from John Hussman

From a long-term investment standpoint, the stock market remains obscenely overvalued, with the most historically-reliable measures we identify presently consistent with zero 10-12 year S&P 500 nominal total returns, and negative expected real returns on both horizons.

From a cyclical standpoint, I continue to expect that the completion of the current market cycle will likely take the S&P 500 down by about 40-55% from present levels; an outcome that would not be an outlier or worst-case scenario, but instead a rather run-of-the-mill cycle completion from present valuations. If you are a historically-informed investor who is optimistic enough to reject the idea that the financial markets are forever doomed to extreme valuations and dismal long-term returns, you should be rooting for this cycle to be completed. If you are a passive investor, you should at least align your current exposure with your investment horizon and your tolerance for cyclical risk, which we expect to be similar to what we anticipated in 2000-2002 and 2007-2009.

When the S&P 500 does fall that much eventually, the Federal Reserve will respond with emergency measures.

So yes, we may see “helicopter money” employed in Japan and in Europe first, but we will see it here someday too.

I know that a lot of people out there are feeling pretty good about things for the moment because U.S. stocks have rebounded quite a bit lately. But remember, the fundamental economic numbers just continue to get even worse. Just today we learned that existing home sales in the United States had fallen by the most in six years. That is definitely not a sign that things are “getting better”, and I keep trying to warn people that tumultuous times are dead ahead.

And if global central bankers did not agree with me, they would not be talking about the need for “helicopter money” and other emergency measures.

_________


Source:

http://theeconomiccollapseblog.com/archives/helicopter-money-global-central-banks-consider-distributing-money-directly-to-the-people

Image Credit – https://www.pehub.com/wp-content/uploads/2013/03/money-falling-from-sky.jpg

Rob Kirby-Coming Revelation Will Drive Gold & Silver Dramatically Higher ~ Greg Hunter


Gold expert Rob Kirby says if the Fed did raise rates, you get another record fall in stocks, which is what happened in January. Kirby goes on to say, “The reality is that’s probably what should be happening right now in the stock market, but we know that the stock market is manipulated, just like we know LIBOR (London Inter Bank Offered Rate) is manipulated. Just like precious metals are manipulated, their prices are suppressed. . . . There are some revelations that are going to be coming regarding precious metals price suppression, which is going to make the deniers, that this has been occurring, look very silly. This is going to occur in the very, very near future. . . . The reaction to this news is going to be a very, very strong pop in the price of precious metals. . . . When it is an irrefutable fact that the precious metals market is suppressed in the paper arena, what do you think people are going to do? They are going to buy physical metal because they are going to know that holding physical metal is one way to avoid being manipulated. They are also going to know that real physical precious metals have been held back and they are underpriced. This should create a very, very strong round of buying of physical precious metals which should push prices dramatically higher.”

Join Greg Hunter of USAWatchdog.com as he goes One-on-One with macroeconomic researcher Rob Kirby of KirbyAnalytics.com.

All links can be found on USAWatchdog.com:

http://usawatchdog.com/global-economy…

http://usawatchdog.com/donations/

“GOLD, SILVER & THE FINAL CURRENCY WAR” ANDY HOFFMAN ~ SGTreport.com


Andy Hoffman from Miles Franklin is back to help document the global economic collapse for the third week of March, 2016. Thanks for tuning in.
 
For REAL News & Information 24/7:
 
MUSIC CREDIT:
Incompetech, “Decisions”
 
The content in my videos and on the SGTbull07 – SGTreport.com channel are provided for informational purposes only. Use the information found in these videos as a starting point for conducting your own research and conduct your own due diligence BEFORE making any significant investing decisions. SGTbull07 – SGTreport.com assumes all information to be truthful and reliable; however, I cannot and do not warrant or guarantee the accuracy of this information. Thank you.

Bankers Arrested In Iceland, Ireland, UK, USA, Switzerland, India, France, Russia, Austria…VIRAL 4


Sign petition on Avaaz – UK: Banksters behind bars – http://www.avaaz.org/en/bankers_behin…

Math Backing Up Claim That Banking Is A Zero Sum Game. Transactions Cancel Each Other Out – http://youtu.be/eYtEb06xC0k

The rest of the story:
1. Take Action And Put Bankers Behind Bars. LIBOR and more “In Your Face” Bankers Crimes – http://www.youtube.com/watch?v=KkWrss…
2. BANKERS BEHIND BARS – YOUR ACTION REQUIRED – SIGN THE PETITION AND MAKE VIDEO VIRAL – LIBOR AND MORE – http://www.youtube.com/watch?v=VcOUe0…
3. 600+ AND COUNTING WORLDWIDE BANKERS RESIGNATIONS – The Rats Are Jumping Ship – http://www.youtube.com/watch?v=wjaJRY…
4. Current video
5. Dead End For Bankers Crime Syndicate. Bankers Deaths, Suicides, Homicides and Capital Punishment – http://www.youtube.com/watch?v=-CS5VK…
6. Bankers Crimes: Money Laundering Inside Trading Cooking Books Bribing Wash Trading Frontrunning – http://www.youtube.com/watch?v=7i-WHS…

Content:
1.Pat Robertson_ Bankers who lied & crashed the economy should go to jail-http://youtu.be/X6KmSSFYMMI
2.Breaking news – Irelands Bankers being Arrested and Charged-http://youtu.be/uuDGkLoqkhg
3.CITY OF LONDON SWISS BANKER LOOTED $2 BILLION THIS WEEK-http://youtu.be/DaS4FWjH4W8
4.Last week Geithner was arrested and released!-http://youtu.be/q5j6Yk0qAgQ
5.Swiss banker tells all-http://youtu.be/rIvwrO-M_bE
6.Top bankers arrested in Loan Scam-http://youtu.be/I6sIL83Q3rQ
7.UK bank scandal spreads, gets costlier-http://youtu.be/dv2P0yNW8PE
8.4 guilty bankers arrested-http://youtu.be/8WlE1wcFe5w
9.IMF Head, Dominique Strauss-Kahn Arrested In New York For Attempted Rape-http://youtu.be/99aVEVcoDlQ
10.Tony Robinson calls out British banking system. Must Watch-http://youtu.be/1ugGJv57F3k
11.Another Banker Arrested On Sexual Assault Charges-http://youtu.be/LvgEfrKJ7iU
12.Western bankers intensify global recession by financial terrorism-http://youtu.be/8DuMvz-2UzQ
13.Barclays CEO, Bob Diamond – My £20m bonus is ‘appropriate’-http://youtu.be/eLWGVe8NUIE
14.Bonus row as RBS losses mount-http://youtu.be/shWaBQFg8ug
15.Bob Diamond: I’m sorry-http://youtu.be/5fCubkRh95s
16.David Cameron and George Osborne on tackling Labour’s debt crisis-http://youtu.be/e2ekLmIMCuk
17.Question Time 5th July-John Lydon-http://youtu.be/dxjMAL_RuEY
18.President of the World Press Conference-http://youtu.be/jDUiuk-12Zg
19. Keiser Report: Paper Money Collapse (E297) –http://youtu.be/dculP2KAg_4

VIRAL Victoria: EXPOSES Canadian banking flaws and announced the a global audience


VIRAL Victoria: EXPOSES Canadian banking flaws and announced the a global audience


Economists around the world are struggling to break free of the clutches of the financial crisis, but one Canadian girl knows exactly what needs to be done.
Victoria Grant, aged 12, became an overnight Internet sensation after a video of her slamming Canada’s banks and the government for robbing the people went viral.

In an interview with RT, the child economist expressed her concern that the Canadian government has been borrowing money from private banks and putting the people into debt.

“And they are not doing anything about this. So they are just standing by and watching the private banks make us pay compounded interest”, she said.
Until the 1970s, the Canadian government borrowed money directly from the Bank of Canada. But in recent decades, it has been borrowing from private banks instead, which results in the government paying extra in interest rates to cover private banks’ profit margins.
The prodigy’s solution to her country’s financial problems is that the government “should stop borrowing from private banks and start borrowing from the Bank of Canada with little to no interest.”

Victoria’s mother, Marcia Grant, principal at the Resurrection Christian Academy, told RT that her daughter becoming an Internet sensation is “quite exciting.”
“We never knew when this project started what would happen with this. It’s exciting that we get people talking and doing their own research. Whether they agree or disagree, they are at least listening and exploring.”

“What’s been bothering me is that our government has been borrowing money from private banks and putting us into debt. And they are not doing anything about this. So they are just standing by and watching the private banks make us pay compounded interest.
My solution is that we stop borrowing from private banks and start borrowing from the Bank of Canada with little to no interest.
Well I’ve been researching and watching documentaries and reading books. And it is not that hard to understand once you start researching. And world leaders, they probably know what is happening. They are just not doing anything about it. I think they don’t care because they are benefiting from what they are doing to us.”

“Well, it has been quite exciting. We never knew when this project started what would happen with this. We didn’t actually dream that this would happen but it’s exciting that we getting people talking and doing their own research. Whether they agree or disagree, they are at least listening and exploring.

“Me and my dad have been watching documentaries, I’d be taking notes and then we write it down and put it into my speech. So we both work on it.
I want to be an interior designer, but I am definitely going to keep studying monetary reform.”

Tags: 2012 rtglobalreport trend trends trendy news media zion zionism NWO new world order banking crisis economy economic decline gold silver bullion fuel hope inspiration banks cash currency dollar pound euro Canada Toronto Ontario Quebec Montreal Vancouver wall street national debt credit cards loans mortgages revolution research smart girl Victoria Grant public banking public banking institute public banking in America Canada Federal Reserve debt austerity 12 year old girl money