General Electric pays $23 million to settle Iraq bribery charges

(RawStory) – US industrial titan General Electric has agreed to pay over 23 million dollars to settle allegations that it bribed Iraqi officials, a US financial watchdog said on Tuesday.

GE had been accused by the Securities and Exchange Commission of being part of “a 3.6 million dollar kickback scheme with Iraqi government agencies to win contracts to supply medical equipment and water purification equipment.”

Four subsidiaries of the Connecticut-based company were accused of bribing officials at the Iraqi ministries of health and oil, trading cash, computer equipment and medical supplies to win lucrative contracts. Continue reading

Video: The Bin Laden trades, Insider Trading of 911 – Max Keiser

Max Keiser talks to Stacy Herbert about insider trading of 911 aka the bin laden trades made by buzzy krongard – (recorded on June 19th 2010) Continue reading

SEC: Government Destroyed Documents Regarding Pre-9/11 Put Options

(WashingtonsBlog) – On September 19, 2001, CBS reported:

Sources tell CBS News that the afternoon before the attack, alarm bells were sounding over unusual trading in the U.S. stock options market.

An extraordinary number of trades were betting that American Airlines stock price would fall.

The trades are called “puts” and they involved at least 450,000 shares of American. But what raised the red flag is more than 80 percent of the orders were “puts”, far outnumbering “call” options, those betting the stock would rise.
Continue reading

Economy

(Money&Markets) – China’s Currency Manipulation: About to Cause a Global Explosion? – Read More Here

(Guardian) – UK’s first ‘conservation credit’ scheme launched – Read More Here

(Fox) – Video: Freedom Watch – Who Owns the Gold in Ft. Knox?

Ludvig von Mises Institute Chair Lew Rockwell on auditing the Federal Reserve

(CNBC) – Video: Steve Wynn Takes On Washington

Steve Wynn, a casino resort/real-estate developer who has been credited with spearheading the dramatic resurgence and expansion of the Las Vegas Strip, talks about the Fall of America. Video Link Here

(GlobalResearch) – The European and U.S. Economies: Falling Dominoes – Shamus Cooke

Attempting to fix an unfixable problem can create new problems. Why is the global economy unfixable in the current context? For one, the cause of the depression is never mentioned in the mainstream media or politicians. And when a disease is misdiagnosed, a prescribed medication creates new afflictions.

Massive, bad debt is often cited as the cause of the global depression, but whythis debt existed in the first place is never discussed. Quite simply, the debt was needed to buy the products of corporations that wages once consumed. Over time, corporations drove down wages to out-compete each other while driving up profits, creating the global “demand” for credit, which the banks are now demanding be paid back. Read More Here

(BitsOfNews) – Pol/Econ: Deregulation and the Triumph of Wall Street

One year removed from a catastrophic, global, economic meltdown, and 26 months removed from the start of the credit crisis, our political establishment is either unwilling or unable to reform the system and punish the perpetrators of this debacle. The situation is so far beyond the pale that it makes one wonder if another catastrophe is even avoidable. Read More Here

(ZeroHedge) – Europe: A Continent Of Lies And Broken Promises; How The EU Elite Got It Wrong On The Euro – Tyler Durden

Openeurope.org.uk has put together a paper of the most blatant half-truths, propaganda, and outright lies, abused by Europe not only over the past month, but also over the past 10 years, for the entire duration of the now rapidly collapsing eurozone experiment. Read More Here

(Bloomberg) – Dow Ends Worst May Since 1940 On Spain Debt Downgrade, Korea Tensions

U.S. stocks slid, capping the worst May for the Dow Jones Industrial Average since 1940, while the euro slumped and Treasuries rose as a downgrade of Spain’s debt rating and escalating tensions on the Korean peninsula triggered a flight from riskier assets. Read More Here

(Rasmussen) – 80% Favor Auditing the Federal Reserve

Eighty percent (80%) of Americans now agree with Congress that auditing the Federal Reserve Board is a good idea, according to a new Rasmussen Reports national telephone survey.

Just nine percent (9%) oppose an audit of the Fed, and 12% more are not sure. Read More Here

(CSPAN) – Video: Moonbat Bachmann complains about $2 billion for raises for Americans – says we can’t afford it

Wait a minute – don’t we pay FAR more every year to a foreign terrorist country that has attacked us?

She doesn’t hesitate repeating the neocon lie about government workers making more than those in the private sector. She does not compare those with the SAME position as she claims – she uses “averages.” Well, government does not hire burger flippers. It is the new attack on the Middle Class – government workers are that, by and large. Video Link Here

(Examiner) – Ellen Brown: US economic reform creates full-employment, renewed infrastructure, zero national debt

Attorney and author of the brilliant Web of Debt, Ellen Brown, is among the leading US advocates of monetary reform and state-owned banks. Among Ellen’s articles is one worth highlighting for how quickly a national economy can turn from ruin to astounding productivity: Nazi Germany’s direct creation of money to pay for public goods and services. Read More Here

(PostGazetta) – Port Authority warned of layoffs, route cuts without more state aid – Read More Here

(RedactedNews) – Insider Trading Is Perfectly Legal – But Only For Members Of The U.S. Congress – Read More Here

REPOST(CNBC) – Dollar Primed for Collapse by End June: Charts

The dollar’s recent strength has been explained by most market analysts as a result of the euro weakness rather than any fundamental support for the greenback. In fact, a closer look at the dollar’s chart – particularly the dollar index – suggests the currency may be primed for a collapse. Read More Here

(Money&Markets) – Credit Crisis Indicators Going Bonkers Again! Batten Down the Hatches!

Heads up people. Something very big is happening in the global credit markets — something you darn well better pay attention to. Read More Here

(EconomicPolicyJournal) – It’s the Bailout of the Banksters Before Greece Is Taken Down

WSJ has a remarkably to the point story explainning why Greece will end up restructuring, but that there will be a delay until the banksters are protected: Read More Here

(Boston) – Romania to cut wages despite strike threat

Romania will go ahead with sweeping wage, pension and benefits cuts despite unions’ threats to stage a general strike, Prime Minister Emil Boc said Wednesday. Read More Here

(DSNews) – Federal Reserve’s MBS Purchases Could Lead to Record Earnings of $70B – Read More Here

(TheEconomicCollapse) – The Depression Of 2011? 23 Economic Warning Signs From Financial Authorities All Over The Globe

Could the world economy be headed for a depression in 2011?  As inconceivable as that may seem to a lot of people, the truth is that top economists and governmental authorities all over the globe say that the economic warning signs are there and that we need to start paying attention to them.  The two primary ingredients for a depression are debt and fear, and the reality is that we have both of them in abundance in the financial world today.  In response to the global financial meltdown of 2007 and 2008, governments around the world spent unprecedented amounts of money and got into a ton of debt. Continue reading

Economy

(MSNBC) – Video: Obamacare Loophole Exposed – Michael Moore – Video Link Here

(ChartingStocks) – Warren Buffet Does Heavy Selling; 13-F Filings Reveal

Billionaire investor Warren Buffet did some heavy selling during the first quarter of 2010. According to the most recent 13-f filing, Mr. Buffett liquidated his entire position health insurers United Health (UNH) and WellPoint (WPT). He dumped his holdings in financial companies Travelers (TRV) and Sun Trust Banks (STI). Read More Here

(PressTV) – Greece blames US for snowballing debts

Greek Prime Minister George Papandreou says he is considering taking legal action against US investment banks for their alleged role in the snowballing Greek debt crisis. Read More Here

(MarketTicker) – The German Government Has Had Enough

If you thought the German government was going to be a lapdog for Sarcozy, or worse, was going to fellate Brussels and the ECB, you got a rude shock today. Read More Here

(MatterhornAsset) – ALEA IACTA EST

Yes this is it! We have crossed the Rubicon and events in the world economy are now likely to unfold in a totally uncontrollable fashion. Clueless governments still don’t understand that it is their ruinous actions that have created a credit infested and bankrupt world. They will continue to prescribe the same remedy that caused the problem in the first place, namely more credit and more printed money. The consequences are clear; we will have hyperinflation, economic and human misery as well as social unrest. Read More Here

(Bloomberg) – Conspiracy of Banks Rigging States Came With Crash

A telephone call between a financial adviser in Beverly Hills and a trader in New York was all it took to fleece taxpayers on a water-and-sewer financing deal in West Virginia. The secret conversation was part of a conspiracy stretching across the U.S. by Wall Street banks in the $2.8 trillion municipal bond market. Read More Here

(LondonTelegraph) – Congress blocks indiscriminate IMF aid for Europe

Europe may have to clean up its own mess after all. The US Senate has voted 94:0 to block use of taxpayers’ money for IMF rescues that make no economic sense or bail-outs for countries like Greece that far are beyond the point of no return.
“This amendment will help prevent American taxpayer dollars from underwriting dysfunctional governments abroad,” said Texas Senator John Cornyn, the chief sponsor. “American taxpayers have seen more bailouts than they can stomach, and the last thing they should have to worry about are their hard-earned tax dollars being used to rescue a foreign government. Greece is not by any stretch of the imagination too big to fail.” Read More Here

(GnosticMedia) – Audio: Hey Wall Street, Naked Short Sell This! An Interview with Dr. Patrick Byrne and co-host, Wall Street whistle blower, Richard Andrew Grove – Audio Link Here

(SeekingAlpha) – $3,000 Gold? Rosenberg Says That May Be Conservative

Although gold bullion is both a commodity and currency, it has lately become the world’s currency of choice, i.e. a vote of no confidence in fiat paper. This is evident in the fact that the gold price has not only just made an all-time high in U.S. dollar terms ($1,249 on Friday), but also in just about every other currency one cares to mention. I illustrated this in a post a few days ago, entitled “Meet the world’s new currency of choice”. Read More Here

(Telegraph) – Higher taxes for a million as George Osborne’s emergency Budget hits investors

More than a million people could be dragged into paying capital gains tax after George Osborne confirmed that he would use his emergency Budget to hit investors. Read More Here

(RawStory) – Bill for Afghan war could run into the trillions

The U.S. Senate is moving forward with a 59-billion-dollar spending bill, of which 33.5 billion dollars would be allocated for the war in Afghanistan.

However, some experts here in Washington are raising concerns that the war may be unwinnable and that the money being spent on military operations in Afghanistan could be better spent. Read More Here

(DowJones) – Euro Plunges To 4-Year Low After German Trade Ban

The euro plummeted Tuesday to a fresh four-year low after Germany announced it would ban certain speculative investments, exacerbating the selling of the single currency as investors run out of alternatives to trade the sovereign debt crisis already roiling the euro zone. Read More Here

(CBC) – Canada comes out swinging against bank tax

Canada launched a full-court press against the idea of a global bank tax Tuesday, as the prime minister and four senior cabinet members came out strongly against a proposal that’s gathering global steam. Read More Here

(BusinessInsider) – Dow Theorist Richard Russell: Sell Everything Liquid, You Won’t Recognize America By The End Of The Year

Do your friends a favor. Tell them to “batten down the hatches” because there’s a HARD RAIN coming. Tell them to get out of debt and sell anything they can sell (and don’t need) in order to get liquid. Tell them that Richard Russell says that by the end of this year they won’t recognize the country. They’ll retort, “How the dickens does Russell know — who told him?” Tell them the stock market told him. Read More Here

(BusinessInsider) – A Look Back From 2013: How The Bailout Of Greece Caused The Split Of Europe

Last night we noted an interesting paragraph in an Ambrose Evans-Pritchard piece on the Telegraph, which cited an article in the major German newspaper Frankfurter Algemeine Zeitung, which described a future euro currency of strong nations that didn’t even include france. Read More Here

(Telegraph) – Banks dump Greek debt on the ECB as eurozone flashes credit warnings

Foreign holders of Greek and Portuguese debt have seized on emergency intervention by the European Central Bank to exit their positions, leaving eurozone taxpayers exposed to the credit risk. Read More Here

(Rense) – Congressional Climate Bills – Stealth Schemes To Raise Energy Prices And Enrich Wall Street – Stephen Lendman

On June 26, 2009, HR 2454: American Clean Energy and Security Act of 2009 (ACESA) passed, purportedly “To create clean energy jobs, achieve energy independence, reduce global warming pollution and transition to a clean energy economy.”

In fact, it lets energy polluters raise prices for huge windfall profits and gives Wall Street a bonanza through carbon trading derivatives speculation. Catherine Austin Fitts’ Solari.com blog explained it last July in her article titled, “The Next Really Scary Bubble” is coming, saying:

“If you think the housing and credit bubble diminished your financial security and your community, or the bailouts, or the rising gas prices did as well, hold on to your hat” for what’s ahead. “Carbon trading is gearing up to make the housing and derivative bubbles look like target practice,” or in other words, be the mother of all scams, courtesy of administration, House and Senate collaboration with Wall Street and the energy giants. Read More Here

(PaulWatson) – Video: Blanchflower – Europe Could Break Up, Another Bailout Inevitable

Former Bank of England policy maker says collapse of single currency unstoppable Continue reading

Climategate

(Telegraph) – Whoops! CO2 has almost nothing to do with global warming, discovers top US meteorologist

How we can possibly stop the environmental and energy policy of our next government being based on what US meteorologist Dr Roy Spencer calls “the worst case of mass hysteria the world has known.”? Read More Here

(ClimateChangeFraud) – April 2010 cooler than April 1998

News: the RSS AMSU data for April 2010 are out. The anomaly, 0.546, is the lowest one for 2010 so far. It is the second warmest April on their record but it’s more than 0.3 °C cooler than April 1998 and April 2005 was just a bit cooler than April 2010. Read More Here

(HT) – More on the CCX Carbon Trading Scandal

I have been doing some digging on the CCX carbon trading scandal the last few days, and I came across this 2006 publication by Tseming Yang – a professor at Vermont Law school. It confirms much of what Glenn Beck has already discussed, and sheds more light on the inner workings of the scandal Read More Here

Computerized Front Running: How A Computer Program Designed To Save The Free Market Turned Into A Monster – Ellen Brown

(WebOfDebt) – While the SEC is busy investigating Goldman Sachs, it might want to look into another Goldman-dominated fraud: computerized front running using high-frequency trading programs.
Market commentators are fond of talking about “free market capitalism,” but according to Wall Street commentator Max Keiser, it is no more. It has morphed into what his TV co-host Stacy Herbert calls “rigged market capitalism”: all markets today are subject to manipulation for private gain. Continue reading