Could JACOB ROTHSCHILD Be Among the Dead in Plane-Helicopter Collision Near Waddesdon Manor?


Ed. Note: This story is still breaking, but after a thorough search of the headlines from major news articles, as well as alternative media I couldn’t find any evidence that Jacob Rothschild was involved in this tragic mid-air accident.  The Cessna was a two-seater instructor training plane and the helicopter was a two-seater as well. Neither air vehicle is appropriate for flying an individual of Jacob Rothschild’s stature and wealth.

That is, unless he was flying undercover in an effort to escape the country un-detected – which is also REMOTE possibility – under normal circumstances he would fly in a larger helicopter of at least four seats, and the airplane would be an upscale Cessna jet – not a two seater instructor plane.  I suspect this story is a false alarm. Blessings {~A~}

from Your News Wire:
Lord Jacob Rothschild and four other people are feared dead after a plane and helicopter crashed in mid-air over the Rothschild estate in Buckinghamshire on Friday afternoon.

Wreckage from both aircraft fell from the sky after local residents reported hearing a loud bang shortly after midday. According to authorities, the pilot of the helicopter and its single passenger, as well as the pilot and a passenger of the plane all died in the crash.

A local resident, speaking to reporters, said: “My father heard a loud bang. My mother said a man, who I think was someone who had been out walking nearby, then went running up to the manor to say there had been a crash.”

“It didn’t happen directly over the grounds, but in woodland nearby. My father ran up to the scene. Everyone is helping the emergency services.”

 

Screen Shot 2017-11-17 at 12.28.21 PM.png

Nathaniel Charles Jacob Rothschild, 4th Baron Rothschild, is a member of the powerful elite Rothschild banking family.

The Rothschild’s are commonly believed to have engineered WWI in order to force the British government into creating Israel by getting them to sign the Balfour Declaration in 1917.

Lord Rothschild also boasted that the New World Order, which is family heads, would be in place by 2018.

Daily Mail reports: At least seven fire engines and three search and rescue vehicles rushed to the scene after the first 999 call came in at 12.06pm.

 

Screen Shot 2017-11-17 at 12.29.40 PM.png

 

Police vehicles arrived at the crash site and officers have put up evidence tents in the woodland. Crash experts are attempting to piece together what happened.

Rescue workers had launched the fire brigade’s drone over the fallen wreckage in a bid to locate any survivors, but it is understood no one was taken to hospital.

Flight data shows a two-seater helicopter was flying at 1,025ft in the area at the time, but suddenly went of radar shortly after 12 noon. It had only been in the air for 15 minutes.

Aerial image of crash scene
Aerial image of crash scene

 

The plane that crashed is believed to be a Cessna 152, a popular training aircraft which has space for only one pilot and one passenger.

A Cessna 152 took off from Wycombe Air Park around the same time as the helicopter. It disappeared from radar at the same time as the helicopter.

The plane thought to have been involved was made in 1982. The helicopter feared to have crashed was built earlier this year.

Staff from the Waddesdon Estate, which is managed by a foundation set up by the eminent Rothschild family, helped direct emergency vehicles to the scene of the tragedy as police threw up a massive cordon around the area to preserve the scene.

Read More @ YourNewsWire.com
https://www.sgtreport.com/articles/2017/11/17/could-jacob-rothschild-be-among-the-dead-in-plane-helicopter-collision-near-waddesdon-manor
Advertisements

The Saudi Purge is a Global Crisis ~ James Corbett


 

 

The House of Saud is in crisis as MBS consolidates his hold on the kingdom and prepares to transform Saudi Arabia in his image. But what is behind the purge, and how does it relate to the future of the world monetary system. Join James for a classic Corbett Report debriefing on the Saudi purge and the rise of the petroyuan.

SHOW NOTES AND MP3: https://www.corbettreport.com/?p=25008

If The Saudi Arabia Situation Doesn’t Worry You, You’re Not Paying Attention ~ ZeroHedge


 

Tyler Durden's picture

Authored by Chris Martenson via PeakProsperity.com,

While turbulent during the best of times, gigantic waves of change are now sweeping across the Middle East. The magnitude is such that the impact on the global price of oil, as well as world markets, is likely to be enormous.

A dramatic geo-political realignment by Saudi Arabia is in full swing this month. It’s upending many decades of established strategic relationships among the world’s superpowers and, in particular, is throwing the Middle East into turmoil.

So much is currently in flux, especially in Saudi Arabia, that nearly anything can happen next. Which is precisely why this volatile situation should command our focused attention at this time.

The main elements currently in play are these:

  • A sudden and intense purging of powerful Saudi insiders (arrests, deaths, & asset seizures)
  • Huge changes in domestic policy and strategy
  • A shift away from the US in all respects (politically, financially and militarily)
  • Deepening ties to China
  • A surprising turn towards Russia (economically and militarily)
  • Increasing cooperation and alignment with Israel (the enemy of my enemy is my friend?)

Taken together, this is tectonic change happening at blazing speed.

That it’s receiving too little attention in the US press given the implications, is a tip off as to just how big a deal this is — as we’re all familiar by now with how the greater the actual relevance and importance of a development, the less press coverage it receives. This is not a direct conspiracy; it’s just what happens when your press becomes an organ of the state and other powerful interests. Like a dog trained with daily rewards and punishments, after a while the press needs no further instruction on the house rules.

It does emphasize, however, that to be accurately informed about what’s going on, we have to do our own homework. Here’s a short primer to help get you started.

A Quick Primer

Unless you study it intensively, Saudi politics are difficult to follow because they are rooted in the drama of a very large and dysfunctional family battling over its immense wealth.  If you think your own family is nuts, multiply the crazy factor by 1,000, sprinkle in a willingness to kill any family members who get in your way, and you’ll have the right perspective for grasping how Saudi ‘politics’ operate.

The House of Saud is the ruling royal family of the Kingdom of Saudi Arabia (hereafter referred to as “KSA”) and consists of some 15,000 members. The majority of the power and wealth is concentrated in the hands of roughly 2,000 individuals.  4,000 male princes are in the mix, plus a larger number of involved females — all trying to either hang on to or climb up a constantly-shifting mountain of power.

Here’s a handy chart to explain the lineage of power in KSA over the decades:

(Source)

We’ll get to the current ruler, King Salman, and his powerful son, Mohammed Bin Salman (age 32), shortly.  Before we do, though, let’s talk about the most seminal moment in recent Saudi history: the key oil-for-money-and-protection deal struck between the Nixon administration and King Faisal back in the early 1970’s.

This pivotal agreement allowed KSA to secretly recycle its surplus petrodollars back into US Treasuries while receiving US military protection in exchange.  The secret was kept for 41 years, only recently revealed in 2016 due to a Bloomberg FOIA request:

The basic framework was strikingly simple. The U.S. would buy oil from Saudi Arabia and provide the kingdom military aid and equipment. In return, the Saudis would plow billions of their petrodollar revenue back into Treasuries and finance America’s spending.

 

It took several discreet follow-up meetings to iron out all the details, Parsky said. But at the end of months of negotiations, there remained one small, yet crucial, catch: King Faisal bin Abdulaziz Al Saud demanded the country’s Treasury purchases stay “strictly secret,” according to a diplomatic cable obtained by Bloomberg from the National Archives database.

 

“Buying bonds and all that was a strategy to recycle petrodollars back into the U.S.,” said David Ottaway, a Middle East fellow at the Woodrow Wilson International Center in Washington. But politically, “it’s always been an ambiguous, constrained relationship.”

(Source)

The essence of this deal is pretty simple. KSA wanted to be able to sell its oil to its then largest buyer, the USA, while also having a safe place to park the funds, plus receive military protection to boot. But it didn’t want anybody else, especially its Arab neighbors, to know that it was partnering so intimately with the US who, in turn, would be supporting Israel.  That would have been politically incendiary in the Middle East region, coming as it did right on the heels of the Yom Kipper War (1973).

As for the US, it got the oil it wanted and – double bonus time here – got KSA to recycle the very same dollars used to buy that oil back into Treasuries and contracts for US military equipment and training.

Sweet deal.

Note that this is yet another secret world-shaping deal successfully kept out of the media for over four decades. Yes Virginia, conspiracies do happen. Secrets can be (and are routinely) kept by hundreds, even thousands, of people over long stretches of time.

Since that key deal was struck back in the early 1970s, the KSA has remained a steadfast supporter of the US and vice versa. In return, the US has never said anything substantive about KSA’s alleged involvement in 9/11 or its grotesque human and women’s rights violations. Not a peep.  

Until recently.

Then Things Started To Break Down

In 2015, King Salman came to power. Things began to change pretty quickly, especially once he elevated his son Mohammed bin Salman (MBS) to a position of greater power.

Among MBS’s first acts was to directly involve KSA into the Yemen civil war, with both troops on the ground and aerial bombings.  That war has killed thousands of civilians while creating a humanitarian crisis that includes the largest modern-day outbreak of cholera, which is decimating highly populated areas.  The conflct, which is considered a ‘proxy war’ because Iran is backing the Houthi rebels while KSA is backing the Yemeni government, continues to this day.

Then in 2016, KSA threatened to dump its $750 billion in (stated) US assets in response to a bill in Congress that would have released sensitive information implicating Saudi Arabia’s involvement in 9/11.  Then-president Obama had to fly over there to smooth things out.  It seems the job he did was insufficient; because KSA-US relations unraveled at an accelerating pace afterwards.  Mission NOT accomplished, it would seem.

In 2017, KSA accused Qatar of nefarious acts and made such extraordinary demands that an outbreak of war nearly broke out over the dispute. The Qatari leadership later accused KSA of fomenting ‘regime change’, souring the situation further.  Again, Iran backed the Qatar government, which turned this conflict into another proxy battle between the two main regional Arab superpowers.

In parallel with all this, KSA was also supporting the mercenaries (aka “rebels” in western press) who were seeking to overthrow Assad in Syria — yet another proxy war between KSA and Iran.  It’s been an open secret that, during this conflict, KSA has been providing support to some seriously bad terrorist organizations like Al-Qaeda, ISIS and other supposed enemies of the US/NATO.  (Again, the US has never said ‘boo’ about that, proving that US rhetoric against “terrorists” is a fickle construct of political convenience, not a moral matter.)

Once Russia entered the war on the side of Syria’s legitimate government, the US and KSA (and Israel) lost their momentum. Their dreams of toppling Assad and turning Syria into another failed petro-state like they did with Iraq and Libya are not likely to pan out as hoped.

But rather than retreat to lick their wounds, KSA’s King Salman and his son are proving to be a lot nimbler than their predecessors. 

Rather than continue a losing battle in Syria, they’ve instead turned their energies and attention to dramatically reshaping KSA’s internal power structures:

Saudi Arabia’s Saturday Night Massacre

 

For nearly a century, Saudi Arabia has been ruled by the elders of a royal family that now finds itself effectively controlled by a 32-year-old crown prince, Mohammad bin Salman. He helms the Defense Ministry, he has extravagant plans for economic development, and last week arranged for the arrest of some of the most powerful ministers and princes in the country.

 

A day before the arrests were announced, Houthi tribesmen in Yemen but allied with Iran, Saudi Arabia’s regional rival, fired a ballistic missile at Riyadh.

 

The Saudis claim the missile came from Iran and that its firing might be considered “an act of war.”

 

Saudi Arabia was created between the two world wars under British guidance. In the 1920s, a tribe known as the Sauds defeated the Hashemites, effectively annexing the exterior parts of Saudi Arabia they did not yet control. The United Kingdom recognized the Sauds’ claim shortly thereafter. But since then, the Saudi tribe has been torn by ambition, resentment and intrigue. The Saudi royal family has more in common with the Corleones than with a Norman Rockwell painting.

 

The direct attack was undoubtedly met with threats of a coup. Whether one was actually planned didn’t matter. Mohammed Bin Salman had to assume these threats were credible since so many interests were under attack. So he struck first, arresting princes and ex-minsters who constituted the Saudi elite. It was a dangerous gamble. A powerful opposition still exists, but he had no choice but to act. He could either strike as he did last Saturday night, or allow his enemies to choose the time and place of that attack. Nothing is secure yet, but with this strike, there is a chance he might have bought time. Any Saudi who would take on princes and clerics is obviously desperate, but he may well break the hold of the financial and religious elite.

(Source)

This 32 year-old prince, Mohammed bin Salman has struck first and deep, completely upending the internal power dynamics of Saudi Arabia. 

He’s taken on the political, financial and religious elites head on. For example, pushing through the decision to allow women to drive; a provocative move designed to send a clear message to the clerics who might oppose him. That message is: “I’m not fooling around here.”

This is a classic example of how one goes about purging the opposition when either taking over a government after a coup, or implementing a big new strategy at a major corporation.  You have to remove any possible opponents and then install your own loyalists. According the Rules for Rulers, you do this by diverting a portion of the flow of funds to your new backers while diminishing, imprisoning or killing all potential enemies.

So far, Mohammed bin Salman’s action plan is par for the course. No surprises.

The above article from Stratfor (well worth reading in its entirety) continues with these interesting insights:

The Iranians have been doing well since the nuclear deal was signed in 2015. They have become the dominant political force in Iraq. Their support for the Bashar Assad regime in Syria may not have been enough to save him, but Iran was on what appears to be the winning side in the Syrian civil war. Hezbollah has been hurt by its participation in the war but is reviving, carrying Iranian influence in Lebanon at a time when Lebanon is in crisis after the resignation of its prime minister last week.

 

The Saudis, on the other hand, aren’t doing as well. The Saudi-built anti-Houthi coalition in Yemen has failed to break the Houthi-led opposition. And Iran has openly entered into an alliance with Qatar against the wishes of the Saudis and their ally, the United Arab Emirates.

 

Iran seems to sense the possibility of achieving a dream: destabilizing Saudi Arabia, ending its ability to support anti-Iranian forces, and breaking the power of the Sunni Wahhabis. Iran must look at the arrests in Saudi Arabia as a very bad move. And they may be. Mohammad bin Salman has backed the fundamentalists and the financial elite against the wall.

 

They are desperate, and now it is their turn to roll the dice. If they fall short, it could result in a civil war in Saudi Arabia. If Iran can hit Riyadh with missiles, the crown prince’s opponents could argue that the young prince is so busy with his plans that he isn’t paying attention to the real threat. For the Iranians, the best outcome is to have no one come out on top.

 

This would reconfigure the geopolitics of the Middle East, and since the U.S. is deeply involved there, it has decisions to make.

So given Yemen, Syria, and its recent domestic purges, Saudi Arabia is in turmoil. It’s in a far weaker position than it was a short while ago.

This leaves the US in a far weaker regional position, too, at precisely the time when China and Russia are increasing their own presence (which we’ll get to next).

But first we have to discuss what might happen if a civil war were to engulf Saudi Arabia.  The price of oil would undoubtedly spike. In turn, that would cripple the weaker countries, companies and households around the world that simply cannot afford a higher oil price. And there’s a lot of them.

Financial markets would destabilize as long-suppressed volatility would explode higher, creating horrific losses across the board.  That very few investors are mentally or financially prepared for such carnage is a massive understatement.

So..if you were Saudi Arabia, in need of helpful allies after being bogged down in an unwinnable war in Yemen, just defeated in a proxy war in Syria, and your longtime ‘ally’, the US, is busy pumping as much of its own oil as it can, what would you do?

Pivot To China

Given its situation, is it really any surprise that King Salman and his son have decided to pivot to China?  In need of a new partner that would align better with their current and future interests, China is the obvious first choice.

So in March 2017, only a very short while after Obama’s failed visit, a large and well-prepared KSA entourage accompanied King Salman to Beijing and inked tens of billions in new business deals:

China, Saudi Arabia eye $65 billion in deals as king visits

Mar 16, 2017

 

BEIJING (Reuters) – Saudi Arabia’s King Salman oversaw the signing of deals worth as much as $65 billion on the first day of a visit to Beijing on Thursday, as the world’s largest oil exporter looks to cement ties with the world’s second-largest economy.

 

The deals included a memorandum of understanding (MoU) between giant state oil firm Saudi Aramco and China North Industries Group Corp (Norinco), to look into building refining and chemical plants in China.

 

Saudi Basic Industries Corp (SABIC) and Sinopec, which already jointly run a chemical complex in Tinajin, also agreed to develop petrochemical projects in both China and Saudi Arabia.

 

Salman told Xi he hoped China could play an even greater role in Middle East affairs, the ministry added.

 

Deputy Chinese Foreign Minister Zhang Ming said the memorandums of understanding and letters of intent were potentially worth about $65 billion, involving everything from energy to space.

(Source)

This was a very big deal in terms of Middle East geopolitics.  It shook up many decades of established power, resulting in a shift away from dependence on America. 

The Saudis arrived in China with such a huge crowd in tow that a reported 150 cooks had been brought along to just to feed everyone in the Saudi visitation party.

The resulting deals struck involved everything from energy to infrastructure to information technology to space.  And this was just on the first visit.  Quite often a brand new trade delegation event involves posturing and bluffing and feeling each other out; not deals being struck.   So it’s clear that before the visit, well before, lots and lots of deals were being negotiated and terms agreed to so that the thick MOU files were ready to sign during the actual visit.

The scope and size of these business deals are eye catching, but the real clincher is King Salman’s public statement expressing hope China will play “an even greater role in Middle East affairs.”

That, right there, is the sound of the geopolitical axis-tilting. That public statement tells us everything we need to know about the sort of change the Salman dynasty intends to pursue.

So it should have surprised no one to hear that, in August this year, another$70 billion of new deals were announced between China and KSA. The fanfare extolled that Saudi-Sino relations had entered a new era, with “the agreements covering investment, trade, energy, postal service, communications, and media.”

This is a very rapid pace for such large deals.  If KSA and China were dating, they’d be talking about moving in together already. They’re clearly at the selecting furniture and carpet samples stage.

As for the US? It seems KSA isn’t even returning its calls or texts at this point.

You Ain’t Seen Nothing Yet…

All of the above merely describes how we arrived at where things stand today.

But as mentioned, the power grab underway in KSA by Mohammed bin Salman is unfolding in real-time. Developments are happening hourly — while writing this, the very high-profile Prince Bandar bin Sultan (recent head of Saudi Intelligence and former longtime ambassador to the US) has been arrested.

The trajectory of events is headed in a direction that may well end the arrangement that has served as the axis around which geopolitics has spun for the past 40 years. The Saudis want new partners, and are courting China hard.

China, for reasons we discuss in Part 2 of this report, has an existential need to supplant America as Saudi Arabia’s most vital oil customer.

And both Saudi Arabia and China are inking an increasing number of strategic oil deals with Russia. Why? We get into that in Part 2, too — but suffice it to say, in the fast-shifting world of KSA foreign policy, it’s China and Russia ‘in’, US ‘out’.

Maybe not all the way out, but the US clearly has lost a lot of ground with KSA over the past few years.  My analysis is that by funding an insane amount of shale oil development, at a loss, and at any cost (such as to our biggest Mideast ally) the US has time and again displayed that our ‘friendship’ does not run very deep.  In a world where loyalty counts, the US has proved a disloyal partner. Can China position itself to be perceived of as a better mate? When it comes to business, I believe the answer is ‘yes.’

 

http://www.zerohedge.com/news/2017-11-11/if-saudi-arabia-situation-doesnt-worry-you-youre-not-paying-attention

WHAT THEY WON’T TELL YOU ABOUT THE COMING TOTAL FOOD COLLAPSE [& CHINESE CRYPTO SPACE] ~ SGT Report


 

Note: Population statistics and projections compiled for major corporations at Deagel.com for the year 2025, show a significant reduction in the global population with the US having an estimated population of 53 million.  Several years ago I saw statistics from another company with projections at 25million for the U.S.

What do they know that we don’t? Scientists have known about sun cycles and the pending Grand Solar Minimum cycle since the 1970’s, yet they chose to deceive the world with Global Warming propaganda for the last 35+yrs. As a result very few people are prepared to feed themselves when global crops collapse in the net 2-3 years due to extreme seasonal climate change linked to the Grand Solar Minimum’s.

Historical indicates Empires collapse when the sun goes to sleep…

Researcher David Dubyne from the Adapt 2030 You Tube channel joins me to discuss what’s really driving the coming collapse. it’s the secret government’s don’t want to tell their citizens about because nothing can be done to prevent it. It’s the grand solar minimum, and the Chinese know it will devastate crops and food production globally which, according to Dubyne, will cause economies around the world to “evaporate due to never ending, escalating food prices and global food shortages.” And guess where that will lead us? Dubyne says, “I’m sorry to say, there’s not going to be 8 billion people on the planet by 2024.”

PLEASE support our sponsor! Buy PHYSICAL silver (and gold) from SD Bullion: https://sdbullion.com/silver-at-spot-…

Thanks for tuning in. For REAL news 24/7: http://sgtreport.com/ http://thephaser.com/ http://thelibertymill.com/

MUSIC CREDITS: Epidemic Sound: “Who’s There 1” paid license for You Tube 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, scholarship, 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.

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.

Catherine Austin Fitts Says $21 Trillion US Dollars Created Out of Thin Air & Then Stolen?


 

 

Former Assistant HUD Secretary and Wall Street Investment Banker, Catherine Austin Fitts of the Solari Report, has recently provided compelling evidence that $21 trillion US Dollars was created out of thin air and then stolen by the DOD/Pentagon. That’s $65,000 for every American! Do you believe her? Where do you think the money was spent? 1) https://solari.com/blog/dod-and-hud-m… 2) https://missingmoney.solari.com/ Jason Burack of Wall St for Main St forget to mention during his X22 Report Spotlight Interview on Wednesday that $6.5 Trillion US Dollars was unaccounted for according to a Reuters report last year in August 2016 http://www.zerohedge.com/news/2016-08…. Jason’s X22 Report Spotlight Interview released yesterday: https://youtu.be/DhfoPUoDOGs But, that $6.5 trillion number is tiny (but still massive overall) compared to the new number Catherine Austin Fitts claims was created out of thin air and then stolen. Catherine Austin Fitts speaks to Alex Jones on Infowars about the $21 trillion https://youtu.be/nhwVMlDVJII Please visit the Wall St for Main St website here: http://www.wallstformainst.com/

“How to Fund a Universal Basic Income Without Increasing Taxes or Inflation” Ellen Brown, Global Research


The policy of guaranteeing every citizen a universal basic income is gaining support around the world, as automation increasingly makes jobs obsolete. But can it be funded without raising taxes or triggering hyperinflation? In a panel I was on at the NexusEarth cryptocurrency conference in Aspen September 21-23rd, most participants said no. This is my rebuttal.

In May 2017, a team of researchers at the University of Oxford published the results of a survey of the world’s best artificial intelligence experts, who predicted that there was a 50 percent chance of AI outperforming humans in all tasks within 45 years. All human jobs were expected to be automated in 120 years, with Asian respondents expecting these dates much sooner than North Americans. In theory, that means we could all retire and enjoy the promised age of universal leisure. But the immediate concern for most people is that they will be losing their jobs to machines.

That helps explain the recent interest in a universal basic income (UBI) – a sum of money distributed equally to everyone. A UBI has been proposed in Switzerlandtrials are beginning in Finland, and there is a successful pilot ongoing in Brazil. The cities of Ontario in Canada, Oakland in California, and Utrecht in the Netherlands are planning trials; two local authorities in Scotland have announced such plans; and politicians across Europe, including UK Labour Party leader Jeremy Corbyn, have spoken in favor of the concept. Advocates in the US range from Robert Reich to Mark ZuckerbergMartin Luther King, Thomas Paine, Charles Murray, Elon Musk, Dan Savage, Keith Ellison and Paul Samuelson. A new economic study found that a UBI of $1000/month to all adults would add $2.5 trillion to the US economy in eight years.

Welfare can encourage laziness, because benefits go down as earned income goes up. But studies have shown that a UBI distributed equally regardless of income does not have that result. In 1968, President Richard Nixon initiated a successful trial showing that the money had little impact on the recipients’ working hours. People who did reduce the time they worked engaged in other socially valuable pursuits, and young people who were not working spent more time getting an education. Analysis of a similar Canadian trial found that employment rates among young adults did not change, high-school completion rates increased, and hospitalization rates dropped by 8.5 percent. Larger experiments in India have reached similar results.

Studies have also shown that it would actually be cheaper to distribute funds to the entire population than to run the welfare services governments engage in now. It has been calculated that if the UK’s welfare budget were split among the country’s 50 million adults, each of them would get £5,160 a year.

But that is not enough to cover basic survival needs in a modern economy. Taxes would need to be raised, additional debt incurred, or other programs slashed; and these are solutions on which governments are generally unwilling to embark. The other option is “qualitative easing,” a form of central bank quantitative easing in which the money flows directly into the real economy rather than simply into banks. In Europe, politicians are taking another look at this once-derided “helicopter money.” A UBI is being proposed as monetary policy that would stimulate productivity without increasing taxes. As Nobel prize-winning economist Joseph Stiglitz, former senior vice president of the World Bank, explains:

. . . [W]hen the government spends more and invests in the economy, that money circulates, and recirculates again and again. So not only does it create jobs once: the investment creates jobs multiple times.

The result of that is that the economy grows by a multiple of the initial spending, and public finances turn out to be stronger: as the economy grows, fiscal revenues increase, and demands for the government to pay unemployment benefits, or fund social programmes to help the poor and needy, go down. As tax revenues go up as a result of growth, and as these expenditures decrease, the government’s fiscal position strengthens.

Why “QE for the People” Need Not Be Inflationary

The objection  to any sort of quantitative easing in which new money gets into the real economy is that when the money supply grows too large and consumer prices shoot up, the process cannot be reversed. If the money is spent on a national dividend, infrastructure, or the government’s budget, it will be out circulating in the economy and will not be retrievable by the central bank.

But the government does not need to rely on the central bank to pull the money back when hyperinflation hits (assuming it ever does – it has not hit after nearly nine years and $3.7 trillion in quantitative easing). As Prof. Stiglitz observes, the money issued by the government will return to it simply through an increase in fiscal revenues generated by the UBI itself.

This is due to the “velocity of money” – the number of times a dollar is traded in a year, from farmer to grocer to landlord, etc. In a good economy, the velocity of the M1 money stock (coins, dollar bills, demand deposits and checkable deposits) is about seven; and each recipient will pay taxes on this same dollar as it changes hands. According to the Heritage Foundation, total tax revenue as a percentage of GDP is now 26 percent. Thus one dollar of new GDP results in about 26 cents of increased tax revenue. Assuming each of the seven trades is for taxable GDP, $1.00 changing hands seven times can increase tax revenue by $7.00 x 26 percent = $1.82. In theory, then, the government could get more back in taxes than it paid out.

In practice, there will be a fair amount of leakage in these returns due to loopholes and deductions for costs. But any shortfall can be made up in other ways, including closing tax loopholes, taxing the $21 trillion or more hidden in offshore tax havens, or setting up a system of public banks that would collect interest that came back to the government.

A working paper published by the San Francisco Federal Reserve in 2012 found that one dollar invested in infrastructure generates at least two dollars in “GSP” (GDP for states), and “roughly four times more than average” during economic downturns. Whether that means $4 or $8 is unclear, but assume it’s only $4. Multiplying $4 by $0.26 in taxes would return the entire dollar originally spent on infrastructure to the government, year after year. For precedent, consider the G.I. Bill, which is estimated to have cost $50 billion in today’s dollars and to have returned $350 billion to the economy, a nearly sevenfold return.

What of the inflation formula typically taught in economics class? In a May 2011 Forbes article titled “Money Growth Does Not Cause Inflation!”, Prof. John Harvey demonstrated that its assumptions are invalid. The formula is “MV = Py,” meaning that when the velocity of money (V) and the quantity of goods sold (y) are constant, adding money (M) must drive up prices (P). But as Harvey pointed out, V and y are not constant. As people have more money to spend (M), more money will change hands (V), and more goods and services will get sold (y). Demand and supply will rise together, keeping prices stable.

The reverse is also true. If demand (money) is not increased, supply or GDP will not go up. New demand needs to precede new supply. The money must be out there searching for goods and services before employers will add the workers needed to create more supply. Only when demand is saturated and productivity is at full capacity will consumer prices be driven up; and they are not near those limits yet, despite some misleading official figures that omit people who have quit looking for work or are working only part-time. As of January 2017, an estimated 9.4 percent of the US population remained unemployed or underemployed. Beyond that, there is the vast expanding potential of robots, computers and innovations such as 3D printers, which can work 24 hours a day without overtime pay or medical insurance.

The specter invariably raised to block legislators and voters from injecting new money into the system is the fear of repeating the notorious hyperinflations of history – those in Weimer Germany, Zimbabwe and elsewhere. But according to Professor Michael Hudson, who has studied the question extensively, those disasters were not due to government money-printing to stimulate the economy. He writes:

Every hyperinflation in history has been caused by foreign debt service collapsing the exchange rate. The problem almost always has resulted from wartime foreign currency strains, not domestic spending. The dynamics of hyperinflation traced in such classics as Salomon Flink’s The Reichsbank and Economic Germany (1931) have been confirmed by studies of the Chilean and other Third World inflations. First the exchange rate plunges as economies pay for foreign military spending during the war, and then – in Germany’s case – reparations after the war ends. These payments led the exchange rate to fall, increasing the price in domestic currency of buying imports priced in hard currencies. This price rise for imported goods creates a price umbrella for domestic prices to follow suit. More domestic money is needed to finance economic activity at the higher price level. This German experience provides the classic example.

In a stagnant economy, a UBI can create the demand needed to clear the shelves of unsold products and drive new productivity.  Robots do not buy food, clothing, or electronic gadgets. Demand must come from consumers, and for that they need money to spend. As robots increasingly take over human jobs, the choices will be a UBI or to let half the population starve. A UBI is not “welfare” but is simply a dividend paid for living in the 21st century, when automation has freed us to enjoy some leisure and engage in more meaningful pursuits.

Ellen Brown is an attorney, founder of the Public Banking Institute, a Senior Fellow of the Democracy Collaborative, and author of twelve books including Web of Debt and The Public Bank Solution. A 13th book titled The Coming Revolution in Banking is due out this fall. She also co-hosts a radio program on PRN.FM called “It’s Our Money.” Her 300+ blog articles are posted at EllenBrown.com.

This article was originally published by Web of Debt Blog.

Featured image is from Newsmax.com.

China’s New World Order: Gold-backed oil benchmark on the way ~ Corbett Report


SHOW NOTES: https://www.corbettreport.com/?p=23932 China has announced a “new world order” for world oil markets that could have profound effects on the global economy and the monetary order itself. But as The Shanghai International Energy Exchange gears up for operation, it’s important to note yet again that this is another engineered conflict with the pre-determined death of the dollar system being used to bring in the new multipolar world order that the NWO has been openly working toward for decades.

IMPORTANT: National Park Cuts Proposed In DOI Budget (Jun. 21, 2017) (VIDEO)


Hawaii Becomes the First State to Pass a Bill in Support of Universal Basic Income


03778_mapheader

In Brief

This month has shown that Hawaii may be the U.S.’s most forward-thinking state. Earlier in June, it became the first state to formally accept the provisions of the Paris Climate Accord, and now, the state congress has passed a bill that puts Hawaii on the path to universal basic income.

Eyes on the Future

Innovation and forward-thinking may be Hawaii’s two biggest exports in 2017. Earlier this month, the state earned the distinction of being the first in the U.S. to formally accept the provisions of the Paris Climate Agreement after President Donald Trump decided to withdraw the nation from it, and now, Hawaii is taking the lead in embracing yet another innovative idea: universal basic income (UBI).

Today, Hawaii state representative Chris Lee wrote a Reddit post about House Concurrent Resolution 89, a bill he says he introduced in order to “start a conversation about our future.” According to Lee, “After much work and with the help of a few key colleagues, it passed both houses of the State Legislature unanimously.”

Lee also mentioned the development via Twitter:

The bill has two major provisions. First, it declares that all families in Hawaii are entitled to basic financial security. “As far as I’m told, it’s the first time any state has made such a pronouncement,” wrote Lee. The second provision establishes a number of government offices “to analyze our state’s economy and find ways to ensure all families have basic financial security, including an evaluation of different forms of a full or partial universal basic income.”

The congressman thanked “redditors” in his post, as he said the site became his first resource in considering UBI, and added a Reddit-standard TL;DR at the end: “The State of Hawaii is going to begin evaluating universal basic income.”

A Step Forward

Under a UBI program, every citizen is granted a fixed income that’s not dependent on their status in life. Despite the current focus on the concept, it actually isn’t particularly new. In fact, former U.S. President Richard Nixon actually floated the idea back in 1969.

Universal Basic Income: The Answer to Automation?
Click to View Full Infographic

However, the benefits of such a program have become more appealing in light of recent technological advances, specifically, the adoption of automated systems that could result in widespread unemployment.

Proponents of UBI have highlighted how it would be an improvement on existing social welfare programs while mitigating the effects of the joblessness expected to follow automation. Critics think that UBI would encourage a more lax attitude about work and argue that funding such a system would be difficult, if not impossible.

Existing pilot programs, however, seem to indicate otherwise.

Hawaii may be the first U.S. state to pass any sort of UBI-positive legislation, but several countries around the globe are already testing the system. Finland began its two-year UBI pilot in 2016, and Germany has one as well. Canada plans to start trials in Prince Edward Island (PEI) and Ontario, while India is currently debating the merits of UBI. Several private UBI endeavors are also in the works, including one that uses blockchain and cryptocurrency.

Of course, the implementation of any major UBI program requires a great deal of political will. As Lee wrote, “Planning for the future isn’t politically sexy and won’t win anyone an election […]. But if we do it properly, we will all be much better off for it in the long run.”

 

https://futurism.com/hawaii-becomes-the-first-state-to-pass-a-bill-in-support-of-universal-basic-income/

Seth Rich BOMBSHELLS Will Bring Hillary & Podesta To Their Knees — Bix Weir ~ SGTreport.com


The Seth Rich bombshells that are being dropped now are earth shattering, and according to sources, there is absolute panic at the highest levels of the DNC in Washington.

World Net Daily investigative journalist Liz Crokin is breaking huge news regarding the Seth Rich murder investigation, or the complete lack thereof. Crokin has discovered that DC police failed to visit the last bar at which Seth Rich was seen alive – it appears that even the most cursory investigation has been avoided. According to Crokin, the bar owner told her no one showed up to interview him, or any one else, nor was he ever asked for any bar video surveillance that might have been recorded of Rich’s final moments.

Additionally, Kim Dotcom has publicly confirmed that he KNOWS that Seth Rich WAS the DNC Wiki-leaker. Dotcom says he is willing to share everything he knows with US government officials IF they can guarantee his safe passage into and out of the United States.

Dotcom says, “I KNOW THAT SETH RICH WAS INVOLVED IN THE DNC LEAK, If my evidence is required to be given in the United States I would be prepared to do so if appropriate arrangements are made. I would need a guarantee from Special Counsel Mueller, on behalf of the United States, of safe passage from New Zealand to the United States and back.”

Bix Weir from roadtoroota.com joins me to discuss this developing situation, we also discuss the crypto space and precious metals.

#SETHRICH WAS A HERO
http://kim.com/

Watch THIS video on STEEMIT: https://steemit.com/@sgtreport

Visit our new store!
http://survivalmode.us/

We are under an all out assault by You Tube AND Google, which are trying hard to KILL this TRUTH channel. If you feel called to support us, please visit SGT Report on Patreon, thank YOU!
https://www.patreon.com/user?u=5104183

For REAL news 24/7:
http://sgtreport.com/
http://thephaser.com/
http://thelibertymill.com/

MUSIC CREDITS:
Epidemic Sound: “Who’s There 1” paid license for You Tube 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, scholarship, 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.

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.

Supreme Court Of The U.S. Ruled JP Morgan Chase To Stand Trial For Violating Antitrust Laws & For Rigging The Comex Silver Market


by / Monday, 01 May 2017

 

published on Political Vel Crafton April 21 2017

us-supreme-court-1SCOTUS

The U.S. Supreme Court allowed private antitrust lawsuits brought by investors including big U.S. cities accusing major banks of conspiring to manipulate the pivotal Libor benchmark interest rate to move forward. The justices rejected an appeal filed by a group of banks including Bank of America Corp(BAC.N), Deutsche Bank AG(DBKGn.DE), UBS AG(UBSG.S) and JPMorgan Chase & Co(JPM.N) of a May 2016 ruling by the New York-based 2nd U.S. Circuit Court of Appeals that allowed various lawsuits against them to proceed.

The appeals court reversed a lower court judge’s dismissal of investors’ antitrust claims against the banks. The private litigation is separate from Libor rigging probes that have resulted in roughly $9 billion of sanctions worldwide, including $2.5 billion against Deutsche Bank in April 2015. Several bank affiliates have pleaded guilty to criminal charges, and more than 20 people have been criminally charged.

 

Alleged illegal activity including the execution of rapid trades just before the rate was set each day, called “banging the close,” causing the British brokerage ICAP Plc (IAP.L) to delay trades until they moved ISDAfix where they wanted, and posting rates that did not reflect market activity. Settled is a private U.S. lawsuit accusing them of rigging an interest rate benchmark used in the $553 trillion derivatives market.

Under the settlement, payments would include $52 million from JPMorgan; $50 million each from Bank of America, Credit Suisse, Deutsche Bank and RBS; $42 million from Citigroup and $30 million from Barclays.

Alaska Electrical Pension Fund et al v. Bank of America Corp et al, U.S. District Court, Southern District of New York, No. 14-07126. The settlement made public on May 3, which requires court approval, resolves antitrust claims against Bank of America Corp (BAC.N), Barclays Plc (BARC.L), Citigroup Inc (C.N), Credit Suisse Group AG (CSGN.S), Deutsche Bank AG (DBKGn.DE), JPMorgan Chase & Co (JPM.N) and Royal Bank of Scotland Group Plc (RBS.L).

db-gdp

Deutsche Bank 2016

[April 15 Deutsche Bank AG settles London Gold Fixing conspiracy ]

April 14 Deutsche Bank AG agreed to settle U.S. lawsuits accusing it of conspiring with other banks to manipulate gold and silver prices at investors’ expense, court papers show.

The settlements were disclosed in letters filed in Manhattan federal court by lawyers representing investors and traders who accused Deutsche Bank of violating U.S. antitrust law.

Bill Holter 2017

 

Terms were not disclosed, but both settlements will include monetary payments by the German bank. Deutsche Bank also agreed to help the plaintiffs pursue claims against other defendants.The plaintiffs accused Deutsche Bank of conspiring with Bank of Nova Scotia, Barclays Plc, HSBC Holdings Plc and Societe Generale to manipulate prices of gold, gold futures and options, and gold derivatives through twice-a-day meetings to set the so-called London Gold Fixing.

They also accused Deutsche Bank, HSBC and ScotiaBank of a similar conspiracy to manipulate silver prices by rigging the daily Silver Fix.

UBS AG was also accused in both lawsuits of conspiring to exploit metals prices.The cases are In re: Commodity Exchange Inc Gold Futures and Options Trading Litigation, U.S. District Court, Southern District of New York, No. 14-md-02548; and In re: London Silver Fixing Ltd Antitrust Litigation in the same court, No. 14-md-02573.

foreign-owned-federal-reserve

[June 2015 John Cryan, British former chief financial officer of UBS CEO of Deutsche Bank ]

“It is categorically false that pressure from regulators [known as BaFin,] was a factor in the decision of the co-C.E.O.s to step down early,” Michael Golden, the spokesman, said in an email.

He pointed out that Mr. Jain would not receive about 15 million euros in pay he would have been entitled to if he had been fired. Mr. Jain will leave at the end of June while Mr. Fitschen will remain another year.

Sunday 7 June 2015 14.36 EDT Anshu Jain will leave Deutsche Bank at the end of this month, with Jürgen Fitschen staying on until the bank’s annual meeting in 2016. The surprise move of the joint chief executives of

Deutsche Bank came just over a month after Deutsche was fined a record $2.5bn (£1.7bn) for rigging Libor, ordered to fire seven employees and was accused of being obstructive towards regulators in their investigations into the global manipulation of the benchmark rate. John Cryan, the British former chief financial officer of UBS, will replace Jain as co-chief executive. When Fitschen departs he will not be replaced, leaving the 54-year-old Briton in sole charge.

[June 5 Deutsche Bank AG and its role in Ruble flight]Transactions involving stocks bought by Russian clients in rubles through Deutsche Bank, and simultaneous trades through London in which the bank bought the same securities for similar amounts in U.S. dollars allowed Russian clients to move funds out of Russia “without properly alerting the authorities,” Deutsche Bank AG ithinks this may have involved about $6 billion over more than four years.

The Bank of Russia approached Deutsche Bank in October asking the firm to examine the stock-trading activities of some clients in the country, said one person, who asked not to be identified because the discussions are private. The German lender is analyzing data from 2011 through early 2015, and has alerted Britain’s Financial Conduct Authority, the European Central Bank and Germany’s Bafin of the investigation.

Since 2006, , Russian individuals have sent nearly $200 billion out of the country—or more than 10 percent of the country’s gross domestic product for 2013. And the flow of cash accelerated, up from $5.9 billion in the first quarter of 2013 to $13.4 billion in the third quarter of 2014.

[April 23 Germany’s largest lender by assets will book a profit and “near record revenues” for the first quarter, despite LIBOR fine]Deutsche Bank AG’s alleged involvement in rigging of foreign-exchange markets, is likely to involve an even higher fine than the Libor investigations. Deutsche Bank is also being probed for alleged violations of U.S. sanctions on countries such as Iran and over high-frequency trading.

Deutsche Bank will agree to plead guilty to manipulation and acknowledge that its internal monitoring systems were insufficient to prevent the manipulation of Libor. Deutsche Bank is nearing a settlement fine of more than $2.15 billion with British and American regulatory authorities.

The bank is subject to 180 regulatory investigations and faces 1,000 lawsuits with a claim value of more than €100,000 each, Deutsche Bank has paid more than €5 billion over the past two years for settlements and fines stemming mostly from the financial crisis. Annual revenue 2014 $47.30 B

clinton-lewinsky-glass-steagall1Clinton’s 1999 Green Light For Banks To Make High Risk Investments Against The Middle Class!

[November 17 2014 JPM legal costs reserve $5.9 billion: possible 2006 Mortgage Operations problem]“The $9 Billion Witness: Meet JPMorgan Chase’s Worst Nightmare”

Back in 2006, as a deal manager at the gigantic bank, Fleischmann first witnessed, then tried to stop, what she describes as “massive criminal securities fraud” in the bank’s mortgage operations.
Thanks to a confidentiality agreement, she’s kept her mouth shut since then

Justice Department is conducting a criminal investigation into foreign exchange trading by JPMorgan Chase & Co. JPMorgan’s filing came on the same day that HSBC set aside $1.6 billion for legal costs, some of which is earmarked for an ongoing investigation into that bank’s foreign exchange trading business by U.K. regulators. JPM might need as much as $5.9 billion to cover losses beyond reserves for legal matters, up $1.3 billion from the end of June, and the most since since mid-2013.

In October, Citigroup — another bank in settlement talks with regulators — slashed its previously-reported third-quarter profits in order to factor in an additional $600 million in legal costs. Large banks, especially in Europe, have taken billions of dollars worth of hits to their profits in the third quarter to deal with expected legal costs stemming from investigations into foreign exchange manipulation. RBS set aside $640 million, Deutsche Bank has had a $1.1 billion legal charge, and Barclays has had a $800 million charge.

Credit Default Swaps Investigations and Litigation. In July 2013, the European Commission (the “EC”) filed a Statement of Objections against the Firm (including various subsidiaries) and other industry members in connection with its ongoing investigation into the credit default swaps (“CDS”) marketplace. The EC asserts that between 2006 and 2009, a number of investment banks acted collectively through the International Swaps and Derivatives Association (“ISDA”) and Markit Group Limited (“Markit”) to foreclose exchanges from the potential market for exchange-traded credit derivatives.

The Firm submitted a response to the Statement of Objections in January 2014, and the EC held a hearing in May 2014. The U.S. Department of Justice (“DOJ”) also has an ongoing investigation into the CDS marketplace, which was initiated in July 2009.

Separately, the Firm and other industry members are defendants in a consolidated purported class action filed in the United States District Court for the Southern District of New York on behalf of purchasers and sellers of CDS. The complaint refers to the ongoing investigations by the EC and DOJ into the CDS market, and alleges that the defendant investment banks and dealers, including the Firm, as well as Markit and/or ISDA, collectively prevented new entrants into the market for exchange-traded CDS products. Defendants moved to dismiss this action, and in September 2014, the Court granted defendants’ motion in part, dismissing claims for damages based on transactions effected before the Autumn of 2008, as well as certain other claims

Foreign Exchange Investigations and Litigation. DOJ is conducting a criminal investigation, and various regulatory and civil enforcement authorities, including U.S. banking regulators, the Commodity Futures Trading Commission (“CFTC”), the U.K. Financial Conduct Authority (the “FCA”) and other foreign government authorities, are conducting civil investigations, regarding the Firm’s foreign exchange (“FX”) trading business.

These investigations are focused on the Firm’s spot FX trading activities as well as controls applicable to those activities. The Firm continues to cooperate with these investigations and is currently engaged in discussions with DOJ, and various regulatory and civil enforcement authorities, about resolving their respective investigations with respect to the Firm. There is no assurance that such discussions will result in settlements.”

In 2013, JPMorgan paid over $20 billion in settlements, fines, and compensation to settle investigations into mortgage securities trading, its massive “London Whale” derivatives loss, and its relationship with Bernie Madoff

JPMorgan’s lawyers accepted the $1.7 billion penalty, stemming from two felony violations of the Bank Secrecy Act for turning a blind eye to the Ponzi scheme run by Bernard L. Madoff. The bank also agreed to pay $350 million to the Office of the Comptroller of the Currency, accepting the agency’s only offer.

hk-jpm-trader-1JP Morgan High Level Forex Trader China

[October 31 $6.5 to $35B may be collected from banks in forex investigation]Major U.S. and European investment banks this month boosted to as much as $6.5 billion their collective war chest/reserves for settling with global regulators who are investigating allegations of collusion and manipulation in the $5 trillion-a-day foreign exchange market. Earlier this year, banking research firm Autonomous put the worldwide total at around $35 billion.

[October 8 U.S. prosecutors expect Banging the close action soon]U.S. prosecutors are pressing to bring charges against a bank for currency-rate rigging by the end of the year, and actions against individuals will probably follow in 2015, according to people familiar with the probe. are looking into allegations that traders shared data about orders with people at other firms using instant-message groups with names such as `€œThe Cartel`€ and `The Bandits Club.`

One focus is whether dealers sought to move the WM/Reuters benchmark rate in their favor by pushing through trades before and during the 60-second windows when the benchmark is set at 4 p.m. in London each day, a process known in the industry as “banging the close.

andrew-jackson

[March 14 European Commission fines over banging the close]

[December 4 2013] A record total of 1.71 billion euros ($2.3 billion) on December 4 was awarded for rigging financial benchmarks. The penalty is the biggest yet to be handed down to banks for rigging the benchmarks used to determine the cost of lending, one of the most brazen violations of conduct since the financial crisis. It is also the highest antitrust penalty ever imposed by the Commission, the EU’s competition regulator.The other banks penalized are Societe Generale, JPMorgan and brokerage RP Martin. Deutsche Bank received the biggest fine of 725.36 million euros. The European Commission said it would continue to investigate Credit Agricole, HSBC, JPMorgan and brokerage ICAP for similar offences.

[Earlier]Standard Chartered has put one of its senior forex traders, Matt Gardiner on leave. Richard Usher, J P Morgan chief currency dealer in London, and Citi’s Rohan Ramchandani also went on leave after regulators probing forex manipulation started investigating traders’ use of an instant-message group.

[October 29]The U.S. Justice Department is investigating the manipulation of foreign exchange rates, a top federal prosecutor said on October 29, in the first public acknowledgement of such a probe in the United States. Criminal and antitrust authorities have an “active, ongoing investigation” into the possible manipulation, Mythili Raman, the acting head of the department’s criminal division, said.

[October 7]Swiss authorities said they were investigating whether financial institutions had colluded to manipulate foreign exchange markets. Traders could potentially influence exchange rates by pushing through large orders exactly at the right time. If those suspicions are proved correct, it could result in yet another embarrassing reputational scandal, not just for individual banks but also for the integrity of the global financial sector.

The $4.7-trillion-a-day (CHF4.2 trillion) currency market, the biggest in the financial system, is also one of the least regulated, according to experts. Even the smallest movement in exchange rates could affect the value of investments made by institutional investors, including pension funds.

Finma, said it was investigating several Swiss banks but did not name them. The agency also said it was cooperating with authorities in other countries and that banks outside the country were also suspected. UBS is fourth among global banks in currency trading, according to Euromoney. Credit Suisse is a relatively minor player, with 3.7 percent of the currency market vs. 10.1 percent for U.B.S.

The largest currency trader globally is Deutsche Bank in Frankfurt, with 15.2 percent of the market. The probes come after reports that dealers at banks pooled information through instant messages and used client orders to move benchmark currency rates. Britain’s Financial Conduct Authority said that month it was reviewing the allegations. The U.S. Commodity Futures Trading Commission has also been reviewing potential violations of the law with regards to foreign currency markets, according to a person familiar with the matter who asked not to be identified.

Authorities around the world are investigating the alleged abuse of financial benchmarks by the firms that play a central role in setting them.

[August 28]In the space of 20 minutes on the last Friday in June, the value of the U.S. dollar jumped 0.57 percent against its Canadian counterpart, the biggest move in a month. Within an hour, two-thirds of that gain had melted away.

The same pattern — a sudden surge minutes before 4 p.m. in London on the last trading day of the month, followed by a quick reversal — occurred 31 percent of the time across 14 currency pairs over two years. For the most frequently traded pairs, such as euro-dollar, it happened about half the time, the data show.

The recurring spikes take place at the same time financial benchmarks known as the WM/Reuters rates are set based on those trades.

Fund managers and scholars say the patterns look like an attempt by currency dealers to manipulate the rates, distorting the value of trillions of dollars of investments in funds that track global indexes. The recurring spikes take place at the same time financial benchmarks known as the WM/Reuters (TRI) rates are set based on those trades. Now fund managers and scholars say the patterns look like an attempt by currency dealers to manipulate the rates, distorting the value of trillions of dollars of investments in funds that track global indexes.

In June that dealers shared information and used client orders to move the rates to boost trading profit. The U.K. Financial Conduct Authority is reviewing the allegations, a spokesman said. “We see enormous spikes,” said Michael DuCharme, head of foreign exchange at Seattle-based Russell Investments, which traded $420 billion of foreign currency last year for its own funds and institutional investors.

“Then, shortly after 4 p.m., it just reverts back to what seems to have been the market rate. It adds to the suspicion that things aren’t right.” Authorities around the world are investigating the abuse of financial benchmarks by large banks that play a central role in setting them.

ipabpcq3gnxa

Former Barclays CEO Robert Diamond gave evidence to the Treasury Select Committee in London on July 10, 2012.
Diamond stepped down from his position after regulators fined the bank 290 million pounds for attempting to rig the benchmark interest rate.

Barclays Plc (BARC), Royal Bank of Scotland Group Plc and UBS AG (UBSN) were fined a combined $2.5 billion for rigging the London interbank offered rate, or Libor, used to price $300 trillion of securities from student loans to mortgages. More than a dozen banks have been subpoenaed by the U.S. Commodity Futures Trading Commission over allegations traders worked with brokers at ICAP Plc (IAP) to manipulate ISDAfix, a benchmark used in interest-rate derivatives.

ICAP Chief Executive Officer Michael Spencer said in May that an internal probe found no evidence of wrongdoing. Dralers at banks, which dominate the $4.7 trillion-a-day currency market, may be executing a large number of trades over a short period to move the rate to their advantage, a practice known as banging the close. Because the 4 p.m. benchmark determines how much profit dealers make on the positions they’ve taken in the preceding hour, there’s an incentive to influence the rate, DuCharme said. Dealers say they have to trade during the window to meet client demand and minimize their own risk.

[April 2013]The Financial Stability Oversight Council (FSOC) recommended April 25 in its latest annual report to Congress that policymakers “promptly” identify other interest rate benchmarks that could replace the London Interbank Offered Rate, which the council said was “unsustainable in the long run.”

The lending gauge, known as Libor, comprises a set of rates used to price financial instruments worldwide and is based on self-reported borrowing costs for unsecured loans between banks. The regulators’ call to move from a regime in which banks self-report their borrowing costs to one anchored in actual, observable transactions would shake up the current underpinnings of the financial system.

The recommendation is the first of its kind for FSOC, a collection of regulators ranging from the Federal Reserve to the Consumer Financial Protection Bureau that was formed after the financial crisis to spot risks.

Hue and Cri

image072

http://i-uv.com/supreme-court-of-the-u-s-ruled-jp-morgan-chase-to-stand-trial-for-violating-antitrust-laws-for-rigging-the-comex-silver-market/

Mainstream Media Finally Exposes CIA Drug Trafficking Conspiracy in Explosive History Channel Series



(Matt Agorist) Richard Nixon, in his effort to silence black people and antiwar activists, brought the War on Drugs into full force in 1973. He then signed Reorganization Plan No. 2, which established the Drug Enforcement Administration (DEA). Over the course of five decades, this senseless war has waged on. At a cost of over $1 trillion — ruining and ending countless lives in the process — America’s drug war has created a drug problem that is worse now than ever before.

Related The Real Drug Lords: A Brief History of CIA Involvement With Drug Trafficking

SourceThe Free Thought Project

by Matt Agorist, April 26th, 2017

This is no coincidence.

For years, those of us who’ve been paying attention have seen who profits from this inhumane war — the police state and cartels.

This horrendously corrupt and violent drug war has gotten so bad, that it is getting pushed into the mainstream. In an extremely rare move, A&E Networks, a subsidiary of ABC and the Walt Disney Company, will be addressing the government’s role in the drug war in a four-part documentary series on the History Channel, titled, “America’s War on Drugs.”

In this documentary, History channel promises to delve into items that, up until recently, were considered ‘conspiracy theory.’ CIA drug dealing is one of those such items. According to the description on A&E:

“America’s War of Drugs” is an immersive trip through the last five decades, uncovering how the CIA, obsessed with keeping America safe in the fight against communism, allied itself with the mafia and foreign drug traffickers. In exchange for support against foreign enemies, the groups were allowed to grow their drug trade in the United States.

Promising to be one of the most explosive television series in recent history, the show intends to expose the CIA’s connection to the crack epidemic.

Night one of “America’s War on Drugs” divulges covert Cold War operations that empowered a generation of drug traffickers and reveals the peculiar details of secret CIA LSD experiments which helped fuel the counter-culture movement, leading to President Nixon’s crackdown and declaration of a war on drugs. The documentary series then delves into the rise of the cocaine cowboys, a secret island “cocaine base,” the CIA’s connection to the crack epidemic, the history of the cartels and their murderous tactics, the era of “Just Say No,” the negative effect of NAFTA, and the unlikely career of an almost famous Midwest meth queen.

If the CIA trafficking cocaine into the United States sounds like some tin foil conspiracy theory, think again. Their role in the drug trade was exposed in 1996 in a critical investigative series “Dark Alliance” by Gary Webb for the San Jose Mercury News. The investigation, headed up by Webb revealed ties between the CIA, Nicaraguan contras and the crack cocaine trade ravaging African-American communities.

READ MORE: Landmark Civil Rights Case in Indiana Prohibits Cops from Interfering with Civilians Filming Them

The investigation provoked massive protests and congressional hearings, as well as overt backlash from the mainstream media to discredit Webb’s reporting. However, decades later, officials would come forward to back Webb’s original investigation up.

Then-senator John Kerry even released a detailed report claiming that not only was there “considerable evidence” linking the Contra effort to trafficking of drugs and weapons — but that the U.S. government knew about it.

Also, as the Free Thought Project previously reported, in a new book, Juan Pablo Escobar Henao, son of notorious Medellín cartel drug kingpin, Pablo Escobar, explains how his father “worked for the CIA.”

In the book, “Pablo Escobar In Fraganti,” Escobar, who lives under the pseudonym, Juan Sebastián Marroquín, explains his “father worked for the CIA selling cocaine to finance the fight against Communism in Central America.”

Going even further down the rabbit hole, the History Channel will address how US involvement in Afghanistan turned the country into a virtual heroin factory and how the drug war empowers cartels.

The final chapter of the series examines how the attacks on September 11th intertwined the War on Drugs and the War on Terror, transforming Afghanistan into a narco-state teeming with corruption. It also explores how American intervention in Mexico helped give rise to El Chapo and the Super Cartels, bringing unprecedented levels of violence and sending even more drugs across America’s borders.

The reason why the drug war actually creates a drug and violence problem is simple. And those who profit most from the drug war — drug war enforcers and cartels — all know it. When the government makes certain substances illegal, it does not remove the demand. Instead, the state creates crime by pushing the sale and control of these substances into the illegal black markets. All the while, demand remains constant.

We can look at the prohibition of alcohol and the subsequent mafia crime wave that ensued as a result as an example. The year 1930, at the peak of prohibition, happened to be the deadliest year for police in American history. 300 police officers were killed, and innumerable poor people slaughtered as the state cracked down on drinkers.

Outlawing substances does not work.

Criminal gangs form to protect sales territory and supply lines. They then monopolize the control of the constant demand. Their entire operation is dependent upon police arresting people for drugs because this grants them a monopoly on their sale.

However, the illegality of drug possession and use is what keeps the low-level users and dealers in and out of the court systems, and most of these people are poor black men. As Dr. Ron Paul has pointed out, black people are more likely to receive a harsher punishment for the same drug crime as a white person.

This revolving door of creating and processing criminals fosters the phenomenon known as Recidivism. Recidivism is a fundamental concept of criminal justice that shows the tendency of those who are processed into the system and the likelihood of future criminal behavior.

The War on Drugs takes good people and turns them into criminals every single minute of every single day. The system is setup in such a way that it fans the flames of violent crime by essentially building a factory that turns out violent criminals.

The system knows this too — as the very existence of the police state is dependent upon the drug war. When drugs are legal, there are far fewer doors to kick in, fines to collect, profit prisons to fill, and money to steal.

READ MORE: 13-year-old with replica assault rifle was shot 7 times in 10 seconds

When drugs are legalized, gang violence drops too — drastically. Not only does it have a huge effect on the localized gangs in America, but the legalization of drugs is crippling to the violent foreign drug cartels too.

This is why the Free Thought Project and other open-minded groups all advocate bringing this bloody and criminally ineffective drug war to a sudden and grinding halt.

Hopefully, the History Channel’s new documentary will push others to question drug laws. Hopefully, the documentary wakes people up the idea that legality does not equal morality and that government force, via kidnapping, caging, and killing, is no way to solve an addiction problem. Hopefully.

About The Author

 
Matt Agorist is an honorably discharged veteran of the USMC and former intelligence operator directly tasked by the NSA. This prior experience gives him unique insight into the world of government corruption and the American police state. Agorist has been an independent journalist for over a decade and has been featured on mainstream networks around the world. Agorist is also the Editor at Large at the Free Thought Project. Follow @MattAgorist on Twitter, Steemit, and now on Facebook.

FREE Episode: Hidden Origins with Michael Tellinger (Season 1, Episode 2) The Power of Gold ~ Gaia TV


Series Home Page: http://bit.ly/RethinkYourOrigins

Uncover the clues that expose humanity’s true origins as Michael Tellinger reveals secrets hidden within ancient stone circles and artifacts. These secrets could help us once again reclaim our true power and create a new world of abundance and opportunity for all.

Everything we have been told about our history is a lie. The stories that have shaped our society, as we know it, are falsehoods concocted by the victors of our planet’s many wars. However, evidence found in ancient texts and sacred sites reveal that discovering who we are and what we have become is only part of humanity’s hidden origins.

http://bit.ly/RethinkYourOrigins

Sign up for our email list, seekers only please:
http://bit.ly/gaiaemails

Gaia Inc
Boulder, CO
866-284-8058
https://www.gaia.com
Connect with us on Social:
Facebook: http://www.facebook.com/Gaia
Facebook: http://www.facebook.com/yogaongaia
YouTube: https://www.youtube.com/c/GaiaVideo
Twitter: http://www.twitter.com/yogaongaia
Twitter: http://www.twitter.com/JoinGaia
Instagram: @wearegaia @yogaongaia

#gaia #michaeltellinger #hiddenorigins

CATHERINE AUSTIN FITTS : GLOBAL FINANCE & WORLD AFFAIRS ~ Project Camelot


CATHERINE AUSTIN FITTS https://solari.com/blog/

I talk with Catherine about her view of the state of the planet and how global finance is impacting our lives.

Bio: Catherine is the president of Solari, Inc., publisher of the Solari Report, and managing member of Solari Investment Advisory Services, LLC. Catherine served as managing director and member of the board of directors of the Wall Street investment bank Dillon, Read & Co. Inc., as Assistant Secretary of Housing and Federal Housing Commissioner at the United States Department of Housing and Urban Development in the first Bush Administration, and was the president of Hamilton Securities Group, Inc. Catherine has designed and closed over $25 billion of transactions and investments to-date and has led portfolio and investment strategy for $300 billion of financial assets and liabilities.

KERRY CASSIDY
PROJECT CAMELOT
http://projectcamelotportal.com

Russia and China announce decoupling trade from Dollar – The End for the USA is nigh‏


 

Image

Russia has just dropped another bombshell, announcing not only the de-coupling of its trade from the dollar, but also that its hydrocarbon trade will in the future be carried out in rubles and local currencies of its trading partners – no longer in dollars – see Voice of Russia

Russia’s trade in hydrocarbons amounts to about a trillion dollars per year. Other countries, especially the BRICS and BRCIS-associates (BRICSA) may soon follow suit and join forces with Russia, abandoning the ‘petro-dollar’ as trading unit for oil and gas. This could amount to tens of trillions in loss for demand of petro-dollars per year (US GDP about 17 trillion dollars – December 2013) – leaving an important dent in the US economy would be an understatement.

Added to this is the declaration today by Russia’s Press TV – China will re-open the old Silk Road as a new trading route linking Germany, Russia and China, allowing to connect and develop new markets along the road, especially in Central Asia, where this new project will bring economic and political stability, and in Western China provinces,where “New Areas” of development will be created. The first one will be the Lanzhou New Area in China’s Northwestern Gansu Province, one of China’s poorest regions.

“During his visit to Duisburg, Chinese President Xi Jinping made a master stroke of economic diplomacy that runs directly counter to the Washington neo-conservative faction’s effort to bring a new confrontation between NATO and Russia.” (press TV, April 6, 2014)

“Using the role of Duisburg as the world’s largest inland harbor, an historic transportation hub of Europe and of Germany’s Ruhr steel industry center, he proposed that Germany and China cooperate on building a new “economic Silk Road” linking China and Europe. The implications for economic growth across Eurasia are staggering.”

Curiously, western media have so far been oblivious to both events. It seems like a desire to extending the falsehood of our western illusion and arrogance – as long as the silence will bear.

Germany, the economic driver of Europe – the world’s fourth largest economy (US$ 3.6 trillion GDP) – on the western end of the new trading axis, will be like a giant magnet, attracting other European trading partners of Germany’s to the New Silk Road. What looks like a future gain for Russia and China, also bringing about security and stability, would be a lethal loss for Washington.

In addition, the BRICS are preparing to launch a new currency – composed by a basket of their local currencies – to be used for international trading, as well as for a new reserve currency, replacing the rather worthless debt ridden dollar – a welcome feat for the world.

Along with the new BRICS(A) currency will come a new international payment settlement system, replacing the SWIFT and IBAN exchanges, thereby breaking the hegemony of the infamous privately owned currency and gold manipulator, the Bank for International Settlement (BIS) in Basle, Switzerland – also called the central bank of all central banks.

To be sure – the BIS is a privately owned for profit institution, was created in the early 1930’s, in the midst of the big economic melt-down of the 20th Century. The BIS was formed precisely for that purpose – to control the world’s monetary system, along with the also privately owned FED and the Wall Street Banksters – the epitome of private unregulated ownership.

The BIS is known to hold at least half a dozen secret meetings per year, attended by the world’s elite, deciding the fate of countries and entire populations. Their demise would be another welcome new development.

As the new trading road and monetary system will take hold, other countries and nations, so far in the claws of US dependence, will flock to the ‘new system’, gradually isolating Washington’s military industrial economy (sic) and its NATO killing machine.

This Economic Sea Change may bring the empire to its knees, without spilling a drop of blood. An area of new hope for justice and more equality, a rebirth of sovereign states, may dawn and turn the spiral of darkness into a spiral of light.

Peter Koenig is an economist and former World Bank staff. He worked extensively around the world in the fields of environment and water resources. He writes regularly for Global Research, ICH, the Voice of Russia and other internet sites. He is the author of Implosion – fiction based on facts and on 30 years of experience around the globe.
.

Comment: Let’s not get too carried away. This is still Earth after all, planet of the psychopaths. Whether the fall of the US is ultimately good or bad for the people of the world, we can bet there will be blood spilled…

Catherine Austin Fitts: US Dollar & US Empire Maintained by Corruption


Jason Burack of Wall St for Main St interviewed returning guest, President & Publisher of the Solari Report https://solari.com/, Catherine Austin Fitts.

Catherine is the president of Solari, Inc., publisher of the Solari Report, and managing member of Solari Investment Advisory Services, LLC. Catherine served as managing director and member of the board of directors of the Wall Street investment bank Dillon, Read & Co. Inc., as Assistant Secretary of Housing and Federal Housing Commissioner at the United States Department of Housing and Urban Development in the first Bush Administration, and was the president of Hamilton Securities Group, Inc. Catherine has designed and closed over $25 billion of transactions and investments to-date and has led portfolio and investment strategy for $300 billion of financial assets and liabilities.

Catherine’s full bio: http://solari.com/about-us/catherine/

During this 35+ minute interview Jason asks Catherine about the corruption trying to sabotage President Trump’s administration and his ability to get anything done.

Catherine talks about the pervasive corruption at all levels of government “from sea to shining sea” and how it keeps the status quo going.

Jason also asks Catherine whether Trump is a neocon or he’s been duped into the Syria strikes? Catherine has some interesting ideas about this.

Jason then asks Catherine how many more times the Federal Reserve will raise interest rates in 2017?

Catherine also discusses her Solari Report 2016 Annual Wrap Up, The Global Harvest & What It Means to Investors. Jason and Catherine discuss organic food and Catherine talks about how it’s an investable trend now.

Please visit the Wall St for Main St website here: http://www.wallstformainst.com/
Follow Jason Burack on Twitter @JasonEBurack
Follow Wall St for Main St on Twitter @WallStforMainSt

Commit to tipping us monthly for our hard work creating high level, thought proving content about investing and the economy https://www.patreon.com/wallstformainst

Also, please take 5 minutes to leave us a good iTunes review here! We have 33 5 star iTunes reviews and we need to get to our goal of 100 5 star iTunes reviews asap! https://itunes.apple.com/us/podcast/w…

If you feel like donating fiat via Paypal, Bitcoin, Gold Money, or mailing us some physical gold or silver, Wall St for Main St accepts one time donations on our main website.

Wall St for Main St is also available for personalized investor education and consulting! Please email us to learn more about it! If you want to reach us, please email us at: wallstformainst@gmail.com

JUDGMENT DAY: Russia & China Bypass the Dollar With GOLD SGTreport.com


NOTE: This interview was recorded in the hours BEFORE Trump bomber Syria, or it would have been discussed. In this conversation with Andy Hoffman we discuss the Russia and China’s rapid move away from the Dollar and toward gold. It will soon be judgment day for the Petro-dollar.

I have started a Patreon account. Please consider pledging a few bucks a month to keep SGT report a viable source of REAL news. Thank YOU!

SGT Report on Patreon:
https://www.patreon.com/user?u=5104183

For REAL news 24/7:
http://sgtreport.com/
http://thephaser.com/
http://thelibertymill.com/

MUSIC CREDITS:
Epidemic Sound: “Who’s There 1” paid license for You Tube use

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.

UBUNTU Update 16 Oct 2016 by Michael Tellinger


“ONE SMALL TOWN” Can change the world!
The new global UBUNTU plan of action for 2017
“ONE SMALL TOWN” Can change the world! – is about to be released any day. While in the USA, during Sept 2016 we had a powerful strategic meeting with several of the UBUNTU USA team core members and agreed on our new strategy and plan of action that we all believe will be unstoppable.

The ONE SMALL TOWN plan is a solid model which will unite people and their political leaders while providing unimaginable opportunities for conscious millionaires to come to the rescue of the many stagnant or failing small towns in the USA and all over the world.

We are creating communities of abundance, where people live united in support of each other – instead of living divided in fear of each other – and where everything and anything is possible, because there are no hurdles or restrictions to progress. This plan will be implemented in all countries with minor modifications, through the core management teams in each country.

We are now truly starting to pave the highway of unity across all borders and cultural divides, out of the matrix of economic enslavement, and manifesting our own UTOPIAN reality that so many of us have wished for all our lives. A new society where the need for “money” is no longer relevant.

There are many movements that share great knowledge and information with people of the world, but at this stage it seems that the UBUNTU Movement is the only movement with a plan for the future, and a NEW SYSTEM. The plan is simple and easily achievable. All we have to do is unite and work in cooperation and collaboration. If anyone tells you otherwise, they are trying to mislead you or keep you trapped in the matrix.

Anonymous, is planing large gatherings to voice the people’s unhappiness with global affairs and stating that we urgently need a new PLAN. I urge everyone to notify the Anonymous Group that UBUNTU has a plan – and to help spread the awareness of our plan to the world.

We are creating a new alternative and a new way ahead for all of humanity – without any violence, resistance, or opposition to anyone. As we create this new reality and a new system for ourselves in our united communities, the old system will simply wither and fade away.

In the days to come, I will be reaching out to all countries to establish the core UBUNTU management teams that will receive detailed training regarding the Plan of Action so that they can present it to their own towns accurately.
Join the UBUNTU Movement and spread the message – become a seed of consciousness in your area. http://www.ubuntuparty.org.za
In unity and resonance
Michael Tellinger

Catherine Austin Fitts-Chances of Slow Burn Continuing Radically Diminished ~ Greg Hunter


Financial expert and Investment advisor Catherine Austin Fits says there are “bad signs” all around in the economy. Fitts explains, “What I have been watching in the cut and run is the leadership organizing and coming into what I would call a controlled demolition. So, it’s not a crash, it’s a controlled demolition. Now, the problem is people and factions start fighting, and you can get a crash. So, that’s possible. In the annual wrap-up, I am going to take the chances of a slow burn in 2016 and 2017 way down. We are coming into what is potentially a very radical change. . . . The chances of this slow burn continuing are radically diminished.”

In closing Fitts says, “We’re coming into a real crunch. It’s either war, depopulation or change. Now, I am for change. I’ll use my old Tina Turner quote, ‘We can do this nice or rough.” There is a way to do this nice, but it’s going to require all of us growing up and taking responsibility and we are going to have to change.”

Join Greg Hunter as he goes One-on-One with former Assistant Housing Secretary, Catherine Austin Fitts, publisher of The Solari Report.
All links can be found on USAWatchdog.com:

http://usawatchdog.com/controlled-dem…

http://usawatchdog.com/donations/

Former Wall St. Banker Suggests Global Debt May Not be Owned by Humans


SourceWaking Times

by Lucas Dare, September 21st 2016

Is the world economy a closed system or an open system? In other words, are the world’s financial elite conducting transactions with off-planet entities, enslaving the human race to unseen actors?

The world’s people are held in perpetual bondage to the fiat currency money masters who have saddled us with absolutely insurmountable debt obligations which are mathematically impossible to repay. At present, the CIA estimates the total global debt to be nearing $90 trillion.

Related Debt Contesting Essentials – Contract, Consent and Conditional Acceptance | Unsecured Debt Can Be Terminated

“In 2013, according to the CIA’s World Factbook, the GWP totalled approximately US $87.25 trillion in terms of purchasing power parity (PPP), and around US $74.31 trillion in nominal terms.” [Source]

The gross world product, the nominal value of planetary human endeavor per year, was recently estimated at $78 trillion, meaning nearly an entire year of the productivity of every man, woman and child on planet earth, some 7.4 billion people, is owed to someone, but who exactly no one really knows for sure. How is this possible?

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

As nations like Greece are forced into austerity and unnecessary hardship by private banks, it is becoming ever more clear to the people of the world that debt-based currency is being used to conquer nations and enslave free people. The fiat money scheme is so absurd, so detrimental to human progress, that any sane person has to wonder why the global debt cannot just be written off with a few key strokes, allowing the world’s economy to again thrive.

In fact it can be written off, as was implied by former Federal Reserve Chairman, Alan Greenspan.

“The United States can pay any debt it has because we can always print money to do that. So there is zero probability of default.” ~Alan Greenspan

In other words, the money, ie., the debt, is meaningless, only having value if governments around the world use law and the violence of authority to enforce their citizens into payment of these fraudulent obligations, which is indeed happening the world over.

“I thought about the core tools we EHMs (economic hit men) used in my day: false economics that included distorted financial analyses, inflated projections, and rigged accounting books; secrecy, deception, threats, bribes, and extortion; false promises that we never intended to honor; and enslavement through debt and fear. These same tools are used today.” ~John Perkins, The New Confessions of an Economic Hit Man

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

After years of investigative research into the trillions of dollars missing from the U.S. government, former Wall Street banker and former Assistant Secretary of Housing and Federal Housing Commissioner at the United States Department of Housing and Urban Development in the first Bush Administration, Catherine Austin Fitts has come to the conclusion that global debt may very well be owned by off-planet entities who operate planet earth as a real estate investment.

“Is earth an open or closed economy? I went to business school, I worked on Wall Street for eleven years, you know I’ve been involved in the economy my whole life and the whole time I was invited to assume that earth was a closed economy. So, if we issued debt, then other humans owned that debt. If we issued stock, other humans owned that stock. But if you look at all the economic experiences I’ve had over my whole life, in government, businesses, everything else, what I will tell you is, you know, if you ask me to describe the economic model on planet earth, I would say, ‘well planet earth is a real estate investment trust because we’re paying a dividend some place every year, and I don’t know where it’s going. It’s going into that question mark, on the planetary balance sheet.” [Source]

While she admits that she herself does not have the answer to this rather serious question, the fact that each year a major portion of the world’s productivity evaporates into thin air, with no accountability whatsoever, does indeed beg this question to be asked by any serious economist. Even the government accounting agencies responsible for tracking and recording our expenditures can do nothing to answer the question. The money simply vanishes, the debt grows exponentially, and no one can explain who exactly the beneficiary is.

“Let me bring it down to some of the important questions you have to ask if you ask the question,‘is this an open or closed economy.’ I got great statistics on who would issue debt, but for the life of me I couldn’t get great statistics on who owned it. I don’t know who owns it. I know they control. And they control through the debt because that’s how you control a company in invisible ways, by controlling through the debt. Who owns the debt? Is it humans, or is it somebody else?” ~Catherine Austin Fitts

We have a decent idea of who controls the world’s debt (the central banks, the IMF, and the private banking families), and we assume that these entities own this debt, but the cost to humanity is so great that something simply does not add up, unless the picture is broadened to include the possibility that earthlings are paying rent to other, as of yet undisclosed actors.

“Some people say that gold is the currency that will allow us to trade across planets, but for the life of me, I’ve spent many years trying to figure out what the gold inventory is on this planet, and I can’t do it. In 2011, somebody jammed the price of gold down, and then moved an unbelievable amount of inventory out of the single largest inventory in the overt economy for the GLD ETF.” ~Catherine Austin Fitts

Related RV/Gold Bait and Switch? – Secular Value vs Absolute Value – Hidden History of Gold

It’s almost as if someone bought the moon, she points out, yet there is absolutely no agency on our planet that can explain astronomically huge transactions like these nor bring accountability to the billions of people who are being subjugated by a slavish debt-currency system.

So who owns our debt? It is a practical and key question, given the impact the carrying of such tremendous amounts of debt has on the human condition, and how easy it could be to free ourselves and future generations from such unreasonable, criminal bondage by simply adjusting a few digits on a computer screen. The fact that this option is not on the table in any discussion at any level is itself telling.

Related Where Does Money Come From? – The Fraud of Bank Credit | Do you own a home? A car? Do you have a credit card or a student loan?

About the Author

Lucas Dare is a staff writer for Waking Times, where evolution and revolution unite, and for Offgrid Outpost.
_________________________
Stillness in the Storm Editor’s note: Did you find a spelling error or grammar mistake? Do you think this article needs a correction or update? Or do you just have some feedback? Send us an email at sitsshow@gmail.comThank you for reading.

%d bloggers like this: