BANKRUPTCY

China is recasting large gold bars into smaller size bars in preparation for a world trade system in which dollars are worthless as legal tender outside the United States.  While Homeland Security is busy buying 450 million hollow point rounds, China has been gradually selling US Treasury bonds and using the money to buy real assets in Africa, Asia, Latin America and elsewhere so there is no cut off of supplies to their industries and their people when trade collapses along with the dollar and the euro.

A flourishing Greek town has plenty of money because they have their own local currency – the TEMS.

Everyone wants a solution, so I will provide one. The US government should simply cancel the $230 trillion in derivative bets, declaring them null and void. As no real assets are involved, merely gambling on notional values, the only major effect of closing out or netting all the swaps (mostly over-the-counter contracts between counter-parties) would be to take $230 trillion of leveraged risk out of the financial system. The financial gangsters who want to continue enjoying betting gains while the public underwrites their losses would scream and yell about the sanctity of contracts. However, a government that can murder its own citizens or throw them into dungeons without due process can abolish all the contracts it wants in the name of national security. And most certainly, unlike the war on terror, purging the financial system of the gambling derivatives would vastly improve national security.

The Kiwibank & Japanese Model: Postal Banks to Serve Local Communities

Banking in post offices is not new. Many countries, including Germany, France, Italy, Japan, and New Zealand, have a long and successful history of it; and so does the United States.  If the USPS added banking, it could use its own bank-generated credit to help relieve its debt problems.  According to German researcher Margrit Kennedy, interest composes on average about 40% of the cost of all goods and services. That suggests that eliminating interest could reduce the USPS debt by about 40%.

Do you want to know what the future of America is going to look like? Just check out what is happening to Detroit. The city of Detroit was once one of the greatest industrial cities in the history of the world, but today it is a rotting, decaying, post-apocalyptic hellhole. Nearly half the men are unemployed, nearly half the population is functionally illiterate, more than half of the children are living in poverty and the city government is drowning in debt. As economic conditions have gotten worse, crime has absolutely exploded.

The reality is that the Occupy Wall Street movement is filled with Jews. The Jewish Telegraphic Agency recently noted its distinctly “Jewish flavor.”

Fifteen hundred people attended a Yom Kippur service outside Liberty Plaza earlier this month, in what participants described as one of the most powerful and moving events of Occupy to date.

Osama Bin Laden redux.

In the bad old days of the Soviet Union the police took surveys of the population to determine their limits. Today’s bankers are the equivalent of Joe Stalin

You've heard about it for months, but now it's really getting serious.

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.

With Greece forced to seek a second bail-out to avoid bankruptcy, Open Europe has today published a briefing cataloguing how the eurozone crisis could drive the European Central Bank itself into insolvency, with taxpayers likely to pick up a big chunk of the bill.

The role of the ECB in the ongoing eurozone and banking crisis has been significantly understated. By propping up struggling eurozone governments and providing cheap credit to ailing banks, the ECB has put billions worth of risky assets on its books.