MSM: European police to spy on Britons: Now ministers hand over Big Brother powers to foreign officers

(DailyMail) – Ministers are ready to hand sweeping Big Brother powers to EU states so they can spy on British citizens.

Foreign police will be able to travel to the UK and take part in the arrest of Britons.

They will be able to place them under surveillance, bug telephone conversations, monitor bank accounts and demand fingerprints, DNA or blood samples.

Anyone who refuses to comply with a formal request for co-operation by a foreign-based force is likely to be arrested by UK officers. Read More Here

Wall Street Is Laundering Drug Money And Getting Away With It

(AlterNet) – Too-big-to-fail is a much bigger problem than you thought. We’ve all read damning accounts of the government saving banks from their risky subprime bets, but it turns out that the Wall Street privilege problem is far more deeply ingrained in the U.S. legal system than the simple bailouts witnessed in 2008. America’s largest banks can engage in flagrantly criminal activity on a massive scale and emerge almost completely unscathed. The latest sickening example comes from Wachovia Bank: Accused of laundering $380 billion in Mexican drug cartel money, the financial behemoth is expected to emerge with nothing more than a slap on the wrist thanks to an official government policy which protects megabanks from criminal charges. Continue reading

Bailout Bill Would Require Banks to Track and Report Personal Checking Accounts to Feds

(CapitolConfidential) – It’s amazing to watch the civil libertarians hide when Democrats propose the most sweeping intrusions of privacy in generations. In addition to the litany of bad policies contained in the Dodd Financial Reform bill is this nugget on pages 1039-1040. In short, it extends government reach to every deposit account of every citizen. Continue reading

Citibank Controversy Puts Dubious FDIC Guarantee Back In The Spotlight

(PaulWatson) – The recent controversy surrounding Citibank’s advisory to its customers reserving the right to impose a 7 day restriction on withdrawals from their accounts is a stark reminder of the vulnerability of the fractional reserve banking system and the FDIC’s shaky guarantee that it can insure deposits in the event of a bank run. Continue reading

Citigroup Warns Customers It May Refuse To Allow Withdrawals

(BusinessInsider) – The image of banks locking their doors to keep customers from making withdrawals during a bank run is what immediately came to mind when we heard that Citigroup was telling customers it has the right to prevent any withdrawals from checking accounts for seven days. Continue reading

401k/IRA Screw Job Coming?

(MarketTicker) – In a short conversation this noontime that CNBC apparently has omitted from their archives (Why’s that folks?) Rick Santelli was talking about a potential to effectively force money into the Treasury market.
Where would they get this?
From your 401k and IRA accounts! Continue reading

This Is The Government: Your Legal Right To Redeem Your Money Market Account Has Been Denied

(ZeroHedge) – When Henry Paulson publishes his long-awaited memoirs, the one section that will be of most interest to readers, will be the former Goldmanite and Secretary of the Treasury’s recollection of what, in his opinion, was the most unpredictable and dire consequence of letting Lehman fail (letting his former employer become the number one undisputed Fixed Income trading entity in the world was quite predictable… plus we doubt it will be a major topic of discussion in Hank’s book). We would venture to guess that the Reserve money market fund breaking the buck will be at the very top of the list, as the ensuing “run on the electronic bank” was precisely the 21st century equivalent of what happened to banks in physical form, during the early days of the Geat Depression. Continue reading

Iran Replaces The US Dollar With The Euro… And So It Begins

Iran’s President Mahmoud Ahmadinejad has ordered the replacement of the US dollar by the euro in the country’s foreign exchange accounts. Continue reading

Health Care Bill Would Allow Feds To Snoop in Your Checkbook

Half of Congress is in recess, but debate continues over President Obama’s health care program concerning privacy. Continue reading