Eight out of 90 European banks have failed stress tests on whether they could withstand another financial crisis. None were in Italy - which it hopes might help the country fend off spiraling debt costs, along with the 70-billion-Euro cuts which parliament passed on Friday. But, as RT's Sara Firth reports, there's only so much that can be done before the people take power into their own hands.
In essence, it appears as if much of the monetary stimulus generated by the Federal Reserve System went into the Eurodollar market...Cash assets at the smaller U.S. banks remained relatively flat . . . . Thus, the reserves the Fed was pumping into the banking system were not going into the smaller banks. . . .business loans continue to “tank” at the smaller banking institutions. . . .The real lending by commercial banks is not taking place in the United States. The lending is taking place off-shore, underwritten by the Federal Reserve System and this is doing little or nothing to help the American economy grow.
Financial markets are braced for renewed turmoil this week amid growing doubts about the complex rescue plan for the debt-burdened Greek economy.
Riot police fought running battles with hooded youths in Athens continued for a second day today as tens of thousands of protesters took to the streets against tough austerity measures.
The Greek government has narrowly won a key vote of confidence, allowing the Prime Minister to continue his fight for more cuts. Parliament now has to decide whether to impose austerity measures worth billions of Euro, in order to secure a second EU bailout, a lifeline for the country's paralysed economy.
Financial war reporter, Max Keiser, travels to the global financial war. This time, Keiser is in Ireland
A must see.
Max Keiser on Irish political talking-heads show
Irish people rate themselves among the most fulfilled and optimistic in the world, according to a new global survey.
Economist Colm McCarthy has said that there are "widespread suspicions" that the European Central Bank fostered a run on Irish banks to force the last Government to seek a bailout from the EU-IMF.
The UN says it's alarmed by the looming humanitarian crisis in Libya. Officials warn food supply lines have been disrupted and over three hundred thousand refugees have already fled the country. Nigel Farage, MEP and leader of the UK Independence Party, believes the whole military strategy in Libya has not been thought through.
The Federal Reserve is one of the most powerful and secretive institutions in Washington, long considered beyond the reach of lawmakers. But now, as details emerge of how the Fed secretly doled out more than a trillion dollars during the financial crisis, a rare bipartisan movement in Congress demands that the Fed be held accountable.
Sinn Féin has challenged Fianna Fáil, Fine Gael and Labour to outline how they believe the State can afford to pay back the €67 billion EU/IMF rescue package.
Europe's bank chief yesterday warned Fine Gael and Labour -- set to be the next coalition partners -- there will be no renegotiation of the IMF-EU bailout deal.
Fianna Fáil leader Micheál Martin has said that Labour must stop pretending that Ireland can renegotiate the terms of the IMF/EU rescue deal.
Noonan says interest rate must be renegotiated by next government
Pressure is growing on Portugal from Germany, France and other euro zone countries to seek financial help from the EU and IMF to stop the bloc's debt crisis from spreading, a senior euro zone source said on Sunday.
There are fresh demonstrations in Madrid against severe budget cuts as the country tries to reduce its massive debt. Spain has been tipped as the next Eurozone economy at risk of needing a bailout, but some say it could be too big to save. RT talks to Jim Corr, a political activist and musician from the Irish band the Corrs.
Fresh from imposing tough conditions on Ireland as the price of its bailout, the International Monetary Fund's bureaucrats plan to concentrate on a matter closer to home in the new year – sprucing up their offices in downtown Washington DC.
MORE THAN HALF of Irish voters are supportive of the EU-IMF bailout, a new opinion poll has suggested.
For Qrswave and all who are concerned about central bank's domination.
Ireland faces the most severe welfare cuts and tax hikes in its history - the high price it has to pay for receiving an international bailout. The budget is about to face a parliamentary vote, with protesters gathered outside the Parliament building. But Socialist Party MEP, Joe Higgins believes the Irish financial system is already broken beyond repair.
European Member of Parliament Nigel Farrage for the UK Independence Party speaking to the European Parliament in Strasbourg on 24 November 2010
The need for a bailout is the consequence of the government's incompetence. It should pay for its failure
Adrian Salbuchi has a new site devoted to educating the global populace. Basic principles are:
Restore the Sovreign State
Restore the Sovreign Currency
Reject the Debt-Based Economic System
Adrian has done a number of excellent videos and interviews on the global crime syndicate. Excellent resources and a winning message from one of the very best.
An outstanding little text on the Federal Reserve Scam and the several mechanisms by which the farmers, then the manufacturers, and the nation are milked and bilked. Very clear and ideal for those without financial background. Has a foreward by Sen. Robert Owen who was duped into supporting the Federal Reserve Act of 1913. Lots of pages which would make great teaching texts. Highly recommended.
An informative documentary aired last night (August 23) on one of Australia's premier current affairs programs, ABC's Four Corners, documenting the origins of the GFC and the probable, if not inevitable, future of the world economy.
The Commonwealth Bank was founded under conditions like those prevailing today: the country had just suffered a massive banking collapse. In the 1890s, however, there was no FDIC insurance, no social security, no unemployment insurance to soften the blow. People who thought they were well off suddenly found they had nothing. They could not withdraw their funds, write checks on their accounts, or sell their products or their homes, since there was no money with which to buy them. Desperate people were leaping from bridges or throwing themselves in front of trains. Something had to be done.
James Gibb Stuart's 5-Step Plan: control foreign exchange; regulated financial markets; no privatisation of public assets; avoidance of foreign loans/borrowing; and steadfast maintainence of social programmes, with government created debt-free money. Worked in Malaysia and needs to become a public mantra round the globe.
The Financial Con Of The Decade Explained So Simply Even A Congressman Will Get It
Submitted by Tyler Durden on 07/10/2010
Sometimes, when chasing the bouncing ball of fraud and corruption on a daily b