Tag Archives: European Central Bank

Simon Black ~ Nigeria Just Doubled The Size Of Its Economy With A Stroke Of A Pen

SovereignMan April 7 2014

sovereignManSimonBlackSantiago, Chile ~ Over the weekend, Nigeria’s government made an accounting adjustment in how it calculates its GDP statistics.

By changing the base-year in GDP calculations from 1990 to 2010, Nigeria increased the reported size of its economy by 89% over the weekend.

So with a stroke of a pen, the West African nation leapfrogged South Africa to become the continent’s largest economy.

And in doing so the country’s debt-to-GDP ratio fell below 20%. The ratio of bad loans in the banking system when compared to the overall size of the economy also dramatically declined in proportion.

The same thing happened in Poland last year when the government there made a grab for private pensions, then counted those new assets against government debt.

It was just another accounting scam. But it dramatically lowered Poland’s debt-to-GDP ratio on paper, even though the government had not actually gotten any ‘richer’.

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Cash-Strapped Greece Protests Against Further Austerity

RT  November 6 2013

Public and private services have shut down across Greece as unions hold a 24-hour general strike against additional austerity cuts in the recession-plagued country. Protests are taking place as Athens holds talks with its ‘troika’ of creditors.

Wednesday’s strike disrupted public transport, halted ferry and train services, shut down state-run schools and left state hospitals and the ambulance service functioning with emergency staff, the Associated Press reports.

Dozens of flights were cancelled or rescheduled as air traffic controllers walked off the job for three hours from noon in support of the action.

“Workers, pensioners and the unemployed are going through an endless nightmare,” Reuters quoted a port workers statement. “The government and the troika are destroying this country.”

Protesters are pushed back from the riot police as EU and IMF officials escorted out from the emergency exit of the Greek Finance Ministry after their meeting with the Greek Finance Minister in Athens on November 5, 2013. (AFP Photo/Aris Messinis)

Protesters are pushed back from the riot police as EU and IMF officials escorted out from the emergency exit of the Greek Finance Ministry after their meeting with the Greek Finance Minister in Athens on November 5, 2013. (AFP Photo/Aris Messinis)

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Paul Rosenberg ~ Is Bitcoin More Dangerous Than “Cartel Money?”

FreemansPerspective  October 23 2013

I’m going to use a couple of passages from the Bible (the original set of moral standards for our Western civilization), followed by an examination of both Bitcoin and cartel money, to see how they hold up in comparison.

As for my use of the term “cartel money,” it’s the best short description I know for the dollars, euros, yen (and so on) that we use in our daily commerce. They are produced by secretive and monopolistic groups of private banks. That rather precisely matches the definition of cartel.

Principle #1: For wherein you judge another, you condemn yourself; for you who judge practice the same things.

I think by now we have all heard the big accusation against Bitcoin – that it is used for “money laundering” – made especially by the money cartels (the European Central Bank first).

First off, that doesn’t make sense to me. A currency is supposed to be neutral – that is its purpose. So, accusing a currency of money laundering is like jailing a knife for murder. But, that’s not precisely the point we’re addressing here.

Rather, the question is: do the cartels do the same thing that they condemn?

You bet they do!

Read this story on HSBC. Then read this one on Wachovia. These banks laundered hundreds of billions of dollars – knowingly – for violent drug lords. And it gets worse: No one from either bank went to jail. Neither bank was shut down. Neither bank suffered more than a minor fine.

So, how much of a concern can money laundering really be to the cartels and their politician partners? Clearly none, or very close to none.

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Paul Craig Roberts ~ Stand Up Americans

Paul Craig Roberts  October 15 2013

In less than 2 days, if the Treasury secretary can be believed, the Treasury will not have enough money to pay all its bills and will have to prioritize. This doesn’t mean default, as interest on Treasury bonds, notes, and bills will be right up there with the military and NSA. If Washington defaults on its bonds, Washington’s power will be gone with the wind regardless of whether the Treasury pays the military.

Whatever the outcome, Washington has already cooked its goose. Washington’s prestige and credibility have been hammered.

China, Washington’s largest foreign creditor, has responded to Washington’s inability to govern itself with a call for a de-Americanized world. The state news agency, speaking for the Chinese government, said that the “days when the destinies of others are in the hands of a hypocritical nation have to be terminated, and a new world order should be put in place.”

China does not mean by “a new world order” the conspiratorial concept popular on the American right-wing. What the Chinese government means is a departure from the American world order based on the US dollar as world reserve currency and US financial imperialism.

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Bill Still ~ The Biggest Tipping Point For Freedom In Human History [Audio]

SGTbull07  August 20 2013

Filmmaker Bill Still, the man behind the classic monetary documentaries ‘The Money Masters’, ‘The Secret of Oz’, and his latest film ‘Jekyll Island – The Movie’, joins us to discuss his new project ‘Fixing Greece’.

Bill needs your help with his new project, so if you can stop by http://secretofoz.billstill.com/index… and contribute a few bucks towards Bill’s efforts to save Greece and expose the Banksters evil plans, Bill would certainly appreciate your support.

EU Branching Out: 20,000 Bank Outlets Closed In EU Since Start Of Downturn

RT  August 11 20-13

Pedestrians walk past closed banks in central Athens, July, 16, 2013 (Reuters/Yannis Behrakis)

Banks in Europe have cut 5,500 branches in 2012, bringing the total number of outlets closed since the beginning of the credit crunch in 2008 to 20,000. To cut costs financial institutions are shrinking their bricks-and-mortar presence and going digital.

There is now one banking branch for every 2,300 people in the EU, 8 percent down from four years ago, according to European Central Bank statistical data, processed by Reuters. And though 8 percent might seem not such a big figure, it means some of residents, namely those in the peripheral regions, no longer have easy access to banking services.

The Spanish financial industry is one of the EU leaders in economizing by cutting bank outlets. Almost a fifth of branches there disappeared since 2008. A Spanish lender Bankia as a result had to introduce a mobile service – a bus carrying banking equipment to remote areas.

In Spain, the economic problems have been a catalyst. Perhaps without that things could have carried on the way they were for a little longer,” says a Madrid-based Barclays banker.

The biggest reductions in banking sphere in 2012 were seen in crisis-hit Greece with 5.7 percent or 219 of its branches closed.

France is an example of the opposite. It banks are very reluctant to contract their networks, having the most branches in Europe – 38,450 – by the end of 2012, with their physical presence having only shrunk by less than 3 percent since 2008.

When you close a branch, you run the danger of losing at least a few clients,” says Fabrice Asvazadourian, global co-head of financial services at consultant Roland Berger. “It’s the moment that gives people an excuse to consider switching banks.”

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Simon Black ~ Nigel Farage Destroys Europe’s Latest Bad Idea

SovereignMan July 3 2013

There is a gathering electoral storm – Nigel Farage MEP [Video]

I’ve landed this morning in Frankfurt… financial capital of one of the few remaining ‘healthy’ countries in Europe able to inspire a modicum of confidence among investors.

As southern Europe buckles under the weight of unserviceable debt and 60%+ youth unemployment rates, Germany is coasting along with an almost historically low unemployment rate, and an almost historically high stock index.

In fact, the disparity between Germany and its southern neighbors could not be more obvious.

The German Chancellor Angela Merkel has now become a de facto Trustee of the continent. Her fingerprints are all over everything– restructuring agreements, bailout plans, the bank account theft in Cyprus, etc.

She is, at this moment, hosting an EU conference in Berlin, making a public pledge to ‘tackle’ the continent’s job crisis. This seems strangely out of her jurisdiction.

It’s bad enough when people get screwed by their own politicians. Just imagine getting screwed over by some other country’s politicians…

Of course, European policy to deal with the jobs crisis is quite simple: print more money. And the German government has had long-standing influence in European monetary policy to make this happen.

The European Central Bank is right here in Frankfurt, just a stone’s throw away from the cafe where I’m at on Gallusanlage Street. The entire edifice is a shrine to the euro, complete with a hideous monument that probably measures ten meters across.

Smartly-dressed bureacurats are streaming in from the mothership right now for congratulatory cold beers… a day’s end toast to another job well done of conjuring more paper money out of thin air.

I have to imagine that this entire euro system is probably going to go down as one of the worst ideas in the history of economics.

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Ben Fulford (June 8 2013) ~ Financial War Escalates With Riots In Turkey, A Blockade Of European Central Bank, Assassinations And Arrests Amid Clouds Of Disinformation

BenjaminFulford.net

Last week multiple high level sources all confirmed an intensifying battle for control of the global financial system and thus the future of humanity. In the public sphere this is appearing in the form of riots in Turkey, blockades of the European Central Bank and massive global protests against Monsanto among other things. Under the surface there has been a rash of intrigues, arrests, threats and counter-threats. New alliances have also been reached between previously opposing forces, according to multiple high level sources.

In Asia, China, South Korea, Japan and the United States have all agreed on forcing regime change in North Korea, according to a senior Chinese government agent. This was confirmed by a gnostic Illuminati grandmaster and Russian FSB agent who said that Kim Jong-un would have to be removed. The North Koreans, now run by an elderly general, want peace. In the Middle East, meanwhile, apart from the riots in Turkey and Russian troops in Syria, there were separate assassination attempts in Iran against President Mahmoud Ahmajidenad and his ally Saeed Jalili, according to the Mossad linked site Debka.

There are also 11 members of the One People’s Public Trust, the people behind the so-called galactics pushing for their version of a new financial system on the run from both hitmen and law enforcement agents in Ethiopia, according to a CIA source. A senior Italian P2 Lodge member says the people in Ethiopia are there in an effort to find the “original Ark of the Covenant.” At least both sides agree that there is some form of high level intrigue going on in Ethiopia of all places. We will try to find out more next week.

Meanwhile, a member of the Dragon family came forth this week to provide some background. The man who goes by the name Count Albert but insists he is not the fraudulent “Count Albert Zvonko Berdik” sent by the Federal Reserve Board to Hong Kong a while ago. According to him, the Dragon family goes back 3400 years and is headed by a single individual going by the code name M1. He says the Dragon family has now formed an alliance with the Five Star Trust run by the non-Bush part of the CIA.
He also says that China has already started to use new energy technology to turn the desert regions of China green.

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Michael Snyder ~ Why Is The Smart Money Suddenly Getting Out Of Stocks And Real Estate?

Economic Collapse blog May 30 2013

If wonderful times are ahead for U.S. financial markets, then why is so much of the smart money heading for the exits?  Does it make sense for insiders to be getting out of stocks and real estate if prices are just going to continue to go up?  The Dow is up about 17 percent so far this year, and it just keeps setting new record high after new record high.  U.S. home prices have risen about 11 percent from a year ago, and some analysts are projecting that we are on the verge of a brand new housing boom.  Why would the smart money want to leave the party when it is just getting started?  Well, of course the truth is that the “smart money” is regarded as being smart because they usually make better decisions than other people do.  And right now the smart money is screaming that it is time to get out of the markets.  For example, the SentimenTrader Smart/Dumb Money Index is now the lowest that it has been in more than two years.  The smart money is busy selling even as the dumb money is busy buying.  So precisely what does the smart money expect to happen?  Are they anticipating a market “correction” or something bigger than that?

Those are very good questions.  Unfortunately, the smart money rarely divulges their secrets, so we can only watch what they do.  And right now a lot of insiders are making some very interesting moves.

For example, George Soros has been dumping almost all of his financial stocks.  The following is from a recent article by Becket Adams

Everyone’s favorite billionaire investor is back in the spotlight, and this time he has a few people wondering what he’s up to.

George Soros has dumped his position with several major banks including JPMorgan Chase, Capitol One, SunTrust, and Morgan Stanley. He has reduced his exposure to Citigroup and decreased his stake in AIG by two-thirds.

In fact, Soros’ financial stock holdings are down by roughly 80 percent, a massive drop from his position just three months ago, according to SNL Financial.

So exactly what is going on?

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