Economy

(321Gold) – The End-Game and The Illusory Gold Bubble – Read More Here

(MakeItEightEh?) – Martin Feldstein: Bilderberg’s promoter of equity on adjustable-rate mortgages and the Subprime Mortgage Crisis – Read More Here

(AlJazeera) – A slap on the wrist for Goldman Sachs

It may have been a record fine for a financial institution but it appears investment bank Goldman Sachs got off lightly. The whole affair brings in to question the strength of the Securities and Exchange Commission’s case.

The “great vampire squid wrapped around the face of humanity” agreed to pay $550 million to settle fraud charges. But crucially it did not admit guilt for misleading clients over subprime mortgage products. Read More Here

(Yahoo) – Bank of America: ‘Oops, We Cheated Accidentally’ – Read More Here

(ZeroHedge) – China Has Been Covertly Funding A Housing Bubble Five Times Larger Than That Of The US: 65 Million Vacant Homes Uncovered – Read More Here

(Independent) – Britain’s debt: The untold story

The true scale of Britain’s national indebtedness was laid bare by the Office for National Statistics yesterday: almost £4 trillion, or £4,000bn, about four times higher than previously acknowledged. Read More Here

(DetNews) – Metro area hits foreclosure record

Metro Detroit set a new record in foreclosure activity in the first six months of this year, according to Irvine, Calif.-based RealtyTrac – Read More Here

(KurtNimmo) – Congress Passes Bankster Consolidation Bill

Change has arrived. But it is not the sort of change imagined by the fawning mobs of 2008 at Obama’s campaign rallies. Obama and Congress have pulled a three-card Monte on the American people. It’s called “financial regulatory reform” and it hands unprecedented power over to the Federal Reserve.

“This historic reform creates the strongest protections for consumers in history and the toughest financial regulations since the Great Depression,” declares a triumphant White House. – Read More Here

(CNBC) – World At Risk Of Folding In On Itself: Deputy Doom

The global economy is at risk of folding in on itself unless policy makers face up to the threats of inflation inflexibility and exchange-rate inflexibility, according to Arun Motianey, director of fixed income strategy at Roubini Global Economics. Read More Here

(Telegraph) – Fed sends the dollar tumbling – Read More Here

(BaldwinLive) – Assembly-Line Medicine – Chuck Baldwin

It is no hyperbole to say that the consequences of the recently passed “Obamacare” bills by the Congress will be horrific. In fact, I’m not even sure that the English language contains a word sufficiently suitable to describe exactly how dreadful the consequences of this new national health care monstrosity will actually be. Read More Here

(WallStreetJournal) – Biggest expansion of government power over banking, markets since Depression

Congress approved a rewrite of rules touching every corner of finance, from ATM cards to Wall Street traders, in the biggest expansion of government power over banking and markets since the Depression. Read More Here

(NewsDaily) – Home-buying applications sink to 13-year low – Read More Here

(Bloomberg) – Duration of Unemployment in U.S. Rises to Record 34.4 Weeks – Read More Here

(Bloomberg) – Goldman Sachs, Citigroup Sued Over Subprime Loans – Read More Here

(AlterNet) – How the Sneaky Hands of the Big Banks Are Working Overtime to Rip You off – Read More Here

(Reuters) – Wall Street recoups losses on BP and Goldman – Read More Here

(RawStory) – JPMorgan profit leaps nearly 80% – Read More Here

(Reuters) – Banks repossess homes at record pace: RealtyTrac – Read More Here

(AP) – Ex-Clinton fundraiser gets 12 years in prison – Read More Here

(CNBC) – Economic Recovery Showing New Signs of Losing Steam – Read More Here

(RawStory) – Kilmeade: Maybe expiring unemployment benefits will make people ‘sober up’ – Read More Here

(ActivistPost) – America Plunging to Bankruptcy While DC Plays Politics as Usual

More deficit uproar is coming out this week to reveal the quickening pace of the planned implosion of the U.S. economy while politicians wear out the same old arguments. Read More Here

(TIME) – Government for Sale: How Lobbyists Shaped the Financial Reform Bill – Read More Here

(HawaiiNewsNow) – Homes lost to foreclosure on track for 1M in 2010 – Read More Here

(DollarVigilante) – How and Why The World Financial System Has to Collapse

Many people today don’t even realize it because anyone alive today has always lived under an artificial, non-free market financial system. No one even questions the fact that every country has a “central bank” and that every country outlaws any use of currency except for the one it produces.

But, in essence, this highly manipulated, centrally planned/communist system of world finance really began with the creation of America’s third central bank (the first two had previously collapsed or were outlawed) called The Federal Reserve on December 23, 1913. To this day many don’t realize it but the Federal Reserve is not a part of the American government. It is a privately owned, secretive banking cartel. We should note, however, that whether it is publicly or privately owned isn’t the crux of the problem. The problem is that ALL attempts to centralize banking are non-free market and will always result in a steady corruption of the system until it finally reaches collapse.

Louis McFadden, Chairman of the House Banking and Currency Committee in the 1930s stated, “Some people think that the Federal Reserve Banks are United States Government institutions. They are private monopolies which prey upon the people of these United States for the benefit of themselves and their foreign customers; foreign and domestic speculators and swindlers; and rich and predatory money lenders.”

In fact, the President of the US at the time of enactment of the Federal Reserve, Woodrow Wilson stated the following in regard to the Federal Reserve being created under his watch, “I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated governments in the civilized world. No longer a government by free opinion, no longer a government by conviction and the vote of the majority, but a government by the opinion and duress of a small group of dominant men.”

The scourge of a central bank was well known even in the days of the creation of the United States as Thomas Jefferson opined, “The central bank is an institution of the most deadly hostility existing against the principles and form of our Constitution. I am an enemy to all banks discounting bills or notes for anything but coin. If the American people allow private banks to control the issuance of their currency, first by inflation and then by deflation, the banks and corporations that will grow up around them will deprive the people of all their property until their children will wake up homeless on the continent their fathers conquered.”

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