Fed Rescues Foreign Banks

Zero Hedge: The Fed’s $600 Billion Stealth Bailout of Foreign Banks Continues at the Expense of the Domestic Economy, or Explaining Where All the QE2 Money Went

June 12, 2011
By Scott Baker

Courtesy of the recently declassified Fed discount window documents, we now know that the biggest beneficiaries of the Fed’s generosity during the peak of the credit crisis were foreign banks, among which Belgium’s Dexia was the most troubled, and thus most lent to, bank. Having been thus exposed, many speculated that going forward the US central bank would primarily focus its “rescue” efforts on US banks, not US-based (or local branches) of foreign (read European) banks: after all that’s what the ECB is for, while the Fed’s role is to stimulate US employment and to keep US inflation modest. And furthermore, should the ECB need to bail out its banks, it could simply do what the Fed does, and monetize debt, thus boosting its assets, while concurrently expanding its excess reserves thus generating fungible capital which would go to European banks. Wrong. Below we present that not only has the Fed’s bailout of foreign banks not terminated with the drop in discount window borrowings or the unwind of the Primary Dealer Credit Facility, but that the only beneficiary of the reserves generated were US-based branches of foreign banks (which in turn turned around and funnelled the cash back to their domestic branches), a shocking finding which explains not only why US banks have been unwilling and, far more importantly, unable to lend out these reserves, but that anyone retaining hopes that with the end of QE2 the reserves that hypothetically had been accumulated at US banks would be flipped to purchase Treasurys, has been dead wrong, therefore making the case for QE3 a done deal. In summary, instead of doing everything in its power to stimulate reserve, and thus cash, accumulation at domestic (US) banks which would in turn encourage lending to US borrowers, the Fed has been conducting yet another stealthy foreign bank rescue operation, which rerouted $600 billion in capital from potential borrowers to insolvent foreign financial institutions in the past 7 months. QE2 was nothing more (or less) than another European bank rescue operation!

For those who can’t wait for the punchline, here it is. Below we chart the total cash holdings of Foreign-related banks in the US usingweekly H.8 data.  Read More

Barter networking is a powerful tool for countering the affects of depression, hyperinflation, stagflation, globalization, and beyond.

Top Post-Collapse Barter Items And Trade Skills

June 10, 2011

By Brandon Smith
6/9/11

The concept of private barter and alternative economies has been so far removed from our daily existence here in America that the very idea of participating in commerce without the use of dollars or without the inclusion of corporate chains seems almost outlandish to many people. However, the fact remains that up until very recently (perhaps the last three to four decades) barter and independent trade was commonplace in this country. Without it, many families could not have survived.

Whether we like it or not, such economic methods will be making a return very soon, especially in the face of a plunging dollar, inflating wholesale prices, erratic investment markets, and unsustainable national debts. It is inevitable; financial collapse of the mainstream system ALWAYS leads to secondary markets and individual barter. We can wait until we are already in the midst of collapse and weighted with desperation before we take action to better our circumstances, or, we can prepare now for what we already know is coming. 
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Facebook Using Facial Recognition Technology

Facebook Is Now Using Facial Recognition Technology – Have You Checked Your Privacy Settings Lately?

June 10, 2011
The American Dream

The days when you could be "anonymous" on the Internet are long gone. Social media networks like Facebook are a lot of fun, but you should expect to have absolutely zero privacy while using them. If you still believe that anything you say or do on Facebook is private than you are being delusional. Now, Facebook has even enabled facial recognition technology across its entire site. Facebook can now instantly identify your face out of its half a billion users worldwide. Facebook is using this technology for its new "Tag Suggestions" feature. The idea is that facial recognition technology will speed up the process of tagging friends and family in photos that have been posted on Facebook.  Read More

Bill O’Reilly: Obama Must Stop the Nonsense on the Economy

"America is broke and private industry has lost confidence in the president.”

June 10, 2011
By Jim Hoft

American independent Bill O’Reilly laid into Barack Obama last night for his stubborn determination to continue down a path of excessive spending and oppressive regulations. This was a brutal but honest critique of Obama’s failed economic policies.

Dalai Lama to Chinese Students: ‘I’m a Marxist’

June 10, 2011
The Blaze

In speaking to a group of students in Minnesota last week, the Dalai Lama cleared up any uncertainty regarding his political views. “…As far as socio-political beliefs are concerned, I consider myself a Marxist,” he told the audience.

According to Religion Dispatches, one student questioned this statement, asking if this view of the world contradict the Dalai Lama’s philosophy:

The Tibetan leader answered that the Marx was not against religion or religious philosophy per se but against religious institutions that were allied, during Marx’s time, with the European ruling class.

Interestingly, the Chinese government as it currently stands is dominated partially by Karl Marx’s theoretical constructs. This isn’t the first time the Dalai Lama has professed his belief in Marxism. Below, watch a video of the spiritual leader discuss a variety of issues pertaining to China, his political views, and the like:

Fukushima worse that meltdown...it has melt-through

"Worse than meltdown, government report says devastating 'melt-through' has occurred at Fukushima; Official suggests Japan could become 'uninhabitable'"

June 9, 2011
By Eathan A. Huff



Recent reports confirming that Reactors 1, 2, and 3 of the Fukushima Daiichi nuclear facility completely melted just hours after the devastating earthquake and tsunami hit the area on March 11 (http://www.naturalnews.com/032537_F...) have been trumped by even worse news that those same reactors have all likely "melted through," a situation that according to Japan's Daily Yomiuri DY is "the worst possibility in a nuclear accident."


And senior political official Ichiro Ozawa suggested in an interview with The Wall Street Journal (WSJ) that the Fukushima situation could make the entire country of Japan "unlivable."  Read More

Signs The Collapse Of Society Is Accelerating

"Most Americans don't understand what is causing the collapse of the economy, but most of them do have a sinking feeling that something has seriously gone wrong."



June 9, 2011
The Economic Collapse

As the U.S. economy collapses, the thin veneer of civilization that we all take for granted is going to begin to disappear. In fact, there are already an increasing number of signs that the collapse of society is accelerating. In cities such as Chicago, roving packs of young people are "mob robbing" local businesses, randomly assaulting tourists and shoppers and are even pulling people out of vehicles. This isn't just happening in the "bad areas" anymore. Over the past couple of months this type of crime has been common in some of the wealthiest areas of Chicago. In fact, many Chicago residents are now referring to "the Magnificent Mile" as "the Mug Mile". But it isn't just in Chicago that this is happening. During this past Memorial Day weekend, cities all over the United States experienced a stunning wave of mass violence. We are supposed to be an "example" for the rest of the world, but as our economic wealth crumbles we are witnessing the collapse of society all around us. So what is going to happen when the economy gets even worse?  Read More

Plutocratic Puppeteers Meet In Switzerland For Annual Bilderberg Conference

"Police block roads into Bilderberg citing BOMB THREAT, Conference Postponed"

June 9, 2011
Prison Planet.com

This is a master page with links to articles, videos, pictures and coverage of the secretive Bilderberg meeting, taking place over the 8-13th June 2011 in St Moritz, Switzerland.  Read More

The Coming Economic Hell For American Families

"Unfortunately, times are really tough for American families right now and they are about to get a lot tougher."

June 8, 2011
The Economic Collapse

Tens of millions of American families are about to go through economic hell and most of them don't even realize it. Most Americans don't spend a whole lot of time thinking about things like "monetary policy" or "economic cycles". The vast majority of people just want to be able to get up in the morning, go to work and provide for their families. Most Americans realize that things seem "harder" these days, but most of them also have faith that things will eventually get better. Unfortunately, things aren't going to get any better. The number of good jobs continues to decline, the number of Americans losing their homes continues to go up, people are having a much more difficult time paying their bills and our federal government is drowning in debt. Sadly, this is only just the beginning.  Read More

The worst economic times that America has ever seen are ahead

"10 Tipping Points Which Could Potentially Plunge The World Into A Horrific Economic Nightmare"

June 7, 2011
The Economic Collapse

The global economy has become so incredibly unstable at this point that it is not going to take much to plunge the world into a horrific economic nightmare. The foundations of the world economic system are so decayed and so corrupted that even a stiff breeze could potentially topple the entire structure over. Over the past couple of months a constant parade of bad economic news has come streaming in from Europe, Asia and the United States. Signs of an impending economic slowdown are everywhere. So what "tipping point" will trigger the next global economic downturn? Nobody knows for sure, but potential tipping points are all around us.

Today, the global economic system is even more vulnerable than it was back in 2008. Virtually none of the systemic problems that contributed to the 2008 collapse have been fixed.

Mark Mobius, the head of the emerging markets desk at Templeton Asset Management, was recently was quoted in Forbes as saying the following....  Read More

Whole Foods admits its organic foods contain genetically modified ingredients

"Policy on biotech foods has shown signs of cracking"



June 7, 2011
By Tara Green

Genetically modified foods have become so ubiquitous in the US that even the grocery store 'Whole Foods' now admits it cannot keep biotech foods off its shelves. A representative for the corporation acknowledged in May of 2011 that the realities of the marketplace have forced a shift in the company's previous no-GMO's policy.

Joe Dickson, quality standards coordinator for Whole Foods Markets, notes that GMO's dominate the market, especially for corn, soy and canola crops from which ingredients in most processed foods are derived. "Until there's federal government mandated labeling of GMO ingredients, there's no way to tell if packaged products contain GMO ingredients," Dickson said. "Our approach is to work in the spirit of partnership with our suppliers ... to encourage them to take active steps to avoid GMO ingredients."

In spite of public skepticism about GMO foods, the FDA has backed Monsanto and other corporations, declaring that modified foods do not require special labeling letting consumers know they are eating Frankenfoods. This is in contract to the European Union, where public concern over health issues resulted in a moratorium on GMO's. Many European countries, including France, Germany, Greece, Austria and Luxembourg have banned genetically modified foods, while other countries in the EU permit their sale only when products include clear labels of GMO ingredients.  Read More

Elitists are deeply concerned about a “eurozone collapse”

"Top Bilderberger: Eurozone Collapse Threatens Global Currency Agenda"

June 7, 2011
By Paul Joseph Watson

A top Bilderberg member has revealed that globalists are panic-stricken about a potential eurozone crisis caused by a Greek debt default that could precipitate the collapse of the Euro and also derail the wider agenda for multi-regional currency unions and eventually a global currency system.

Appearing on the Alex Jones Show yesterday, veteran Bilderberg sleuth Jim Tucker said that the Euro will again be the subject of crisis talks at this years globalist confab in San Moritz, Switzerland, with power brokers desperate to rescue the single currency from a collapse that numerous financial analysts see on the horizon.

“They’re afraid of the Euro going down and afraid the Euro will simply disappear,” said Tucker, noting that several European countries’ intention to abandon nuclear power after the Fukushima disaster could cause a crisis for the single currency.  Read More

Obama’s auto-bailout speech is full of lies

WaPo fact checker: Obama’s auto-bailout speech “one of the most misleading collections of assertions”

June 7, 2011
By Ed Morrissey

Specious accounting, overblown claims, and dishonest representations — sounds like a short description of Obamanomics, doesn’t it? As the Washington Post’s Glenn Kessler concludes, it also describes Barack Obama’s attempt to defend his policy on further intervention into the auto industry. Kessler rates his recent speech as a three-Pinocchio affair, thanks to a series of parsed claims at which Anthony Weiner can only marvel:
We take no view on whether the administration’s efforts on behalf of the automobile industry were a good or bad thing; that’s a matter for the editorial pages and eventually the historians. But we are interested in the facts the president cited to make his case.

What we found is one of the most misleading collections of assertions we have seen in a short presidential speech. Virtually every claim by the president regarding the auto industry needs an asterisk, just like the fine print in that too-good-to-be-true car loan.

Kessler actually finds one misleading statement for each of the three Pinocchios he awards Obama for the speech.   Read More

Demonic’: Ann Coulter Unveils New Book on the ‘Liberal Mob’

June 7, 2011
The Blaze

Conservative Ann Coulter has just unveiled her latest book, and its title is as bold as its author.

It’s called “Demonic: How the Liberal Mob is Endangering America.” In it, ABC News says, “Coulter traces the words and movements of groups from the Ku Klux Klan and the SDS to anti-war protesters and Democrats today to argue her point that liberals have ‘consistently used mob tactics to implement their idea of the general will.’”

“Just as fire seeks oxygen, Democrats seek power, which is why they will always be found championing the mob whether the mob consists of Democrats lynching blacks or Democrats slandering the critics of Obama Care as racists,” she writes.

In an interview with ABC this morning, she called the book a “psychological profile of the left:"



Read More

GBTV Is the Future’

Beck Announces Details of New Live Streaming Video Network

June 7, 2011
The Blaze

In a story first reported tonight by The New York Times, Glenn Beck, and his company Mercury Radio Arts, are proud to announce the creation of GBTV - a live streaming video network featuring Glenn’s new daily two-hour show and a wide range of original and licensed information and entertainment programming.

The network will be the new home for Glenn Beck and his daily show, which will be expanding to two hours and feature Glenn’s unique fusion of entertainment and enlightenment. Mercury’s own S.E. Cupp and Brian Sack will be contributors to the new show when it launches on September 12th.

For months, Glenn has been teasing a major announcement that would change the way you receive information and entertainment. “GBTV is the future,” said Glenn. “The confines of traditional media no longer apply. GBTV is about getting active in the community, participating in stories, and finding new ways to deliver news, information and entertainment directly to the audience.”  Read More