Cyprus Government Raids Private Checking And Savings Accounts As Citizens Panic … Now It’s Clear Why DHS Needs 1.6 Billion Bullets And Armored Assault Vehicles

Cyprus government raids private checking and savings accounts as citizens panic (Natural News, March 17, 2013):

The day is coming when the U.S. government will claim it “owns” a portion of all our bank accounts, and it will electronically drain our accounts of money in a grand theft scheme designed to pay off the banksters while decimating private savings.

Don’t believe it? That day has already arrived in the European nation of Cyprus, where the government made a secret deal with the IMF to loot private bank accounts of up to 10% of current deposits. Banks went along with the theft, sealing off the funds from account holders. The government now plans to initiate millions of funds transfers as early as Tuesday, draining private accounts of the money the government now claims it owns.

Read moreCyprus Government Raids Private Checking And Savings Accounts As Citizens Panic … Now It’s Clear Why DHS Needs 1.6 Billion Bullets And Armored Assault Vehicles

President Putin Brands Cyprus Saving Levy As ‘Unfair’ – Russian ‘Black Money’ In Cyprus Is KGB Money, Now In Business.

Putin brands Cyprus saving levy as ‘unfair’ (RT, March 18, 2018):

Russian President Vladimir Putin expressed his opinion that Cyprus’ plan to tax bank deposits is “unfair.”

If Cypriot authorities go ahead with the tax plan and levy every deposit placed in the country’s banks, it would be “unfair, unprofessional and dangerous,” Putin said, according to presidential spokesperson Dmitry Peskov.

Read morePresident Putin Brands Cyprus Saving Levy As ‘Unfair’ – Russian ‘Black Money’ In Cyprus Is KGB Money, Now In Business.

Cyprus Bailout Could Be The Start Of The Next Financial Crisis (Washington Post)

Nice test run to determine how dumb, mind-controlled and brainwashed the sheeple really are.

(Also a great way to check out any future resistance to the NWO, straight from their handbook ‘the art of war’.)


Why today’s Cyprus bailout could be the start of the next financial crisis (Washington Post, March 16, 2013):

“The challenges we were facing in Cyprus were of an exceptional nature,” said Jeroen Dijsselbloem, the Dutch finance minister who helped engineer the plan, according to the Financial Times. “Therefore, unique measures were determined to be necessary.”

The European Central Bank will now be on high alert, monitoring activity in Greece, Spain and beyond for evidence that the Cyprus precedent will result in new runs on those nations’ banks. Expect a flood of central bank liquidity into those nations if there is any hint that depositors across Europe seem to be thinking that Cyprus is the new normal and that their seemingly safe bank deposits could be reduced 10 percent without warning.

The best the rest of the world can hope for is that Cyprus’s case is sufficiently unique that it won’t spark panic in Athens and Madrid (or in Lisbon, Dublin and Rome).

For the past six months, the global financial markets have become increasingly complacent, convinced that the euro-zone crisis is, for practical purposes, over. Cyprus is the test of whether that is correct, or whether the complacency was instead misplaced.

In other words, if there is going to be a new wave of crisis in Europe, historians will be able to trace its starting point back to today’s Cyprus bank bailout.

After The Banksters Steal Money From Bank Accounts In Cyprus They Will Start Doing It EVERYWHERE

Don’t miss:

Reuters, March 6, 2013: Cyprus Finance Minister Says Bank Deposits Sacrosanct, Will Be Protected


 

After The Banksters Steal Money From Bank Accounts In Cyprus They Will Start Doing It EVERYWHERE (Economic Collapse, March 17, 2013):

Cyprus is a beta test.  The banksters are trying to commit bank robbery in broad daylight, and they are eager to see if the rest of the world will let them get away with it.  Cyprus was probably chosen because it is very small (therefore nobody will care too much about it) and because there is a lot of foreign (i.e. Russian) money parked there.  The IMF and the EU could have easily bailed out Cyprus without any trouble whatsoever, but they purposely decided not to do that.  Instead, they decided that this would be a great time to test the idea of a “wealth tax”.  The government of Cyprus was given two options by the IMF and the EU – either they could confiscate money from private bank accounts or they could leave the eurozone.  Apparently this was presented as a “take it or leave it” proposition, and many are using the world “blackmail” to describe what has happened.  Sadly, this decision is going to set a very ominous precedent for the future and it is going to have ripple effects far beyond Cyprus.  After the banksters steal money from bank accounts in Cyprus they will start doing it everywhere.  If this “bank robbery” goes well, it will only be a matter of time before depositors in nations such as Greece, Italy, Spain and Portugal are asked to take “haircuts” as well.  And what will happen one day when the U.S. financial system collapses?  Will U.S. bank accounts also be hit with a “one time” wealth tax?  That is very frightening to think about.

Cyprus is a very small nation, so it is not the amount of money involved that is such a big deal.  Rather, the reason why this is all so troubling is that this “wealth tax” is shattering confidence in the European banking system.  Never before have the banksters come directly after bank accounts.

If everything goes according to plan, every bank account in Cyprus will be hit with a “one time fee” this week.  Accounts with less than 100,000 euros will be hit with a 6.75% tax, and accounts with more than 100,000 euros will be hit with a 9.9% tax.

How would you feel if something like this happened where you live?

Read moreAfter The Banksters Steal Money From Bank Accounts In Cyprus They Will Start Doing It EVERYWHERE

Reuters, March 6, 2013: Cyprus Finance Minister Says Bank Deposits Sacrosanct, Will Be Protected

From the article:

“The cornerstone of confidence in the banking system is the integrity of deposits.”
– Finance minister Michael Sarris

Trust us!

Aaaaand it’s gone …

BREAKING NEWS: Cyprus Haircut ‘Bailout’ Is Directly STEALING Money From Depositors, Turns Into Saver ‘Panic’, Frozen Assets, Bank Runs, Broken ATMs

Cyprus ‘Haircut’: Germany And IMF Initially Demanded Stunning 40% Of Total Deposits!!!

You can’t make this stuff up!!!


UPDATE 2-Cyprus Finance Minister says bank deposits will be protected (Reuters, March 6, 2013):

* Cyprus says bank deposits sacrosanct

* Lenders start new contacts to craft bailout deal

* Government wary on central banker’s deposit levy idea

NICOSIA, March 6 (Reuters) – Cyprus insisted on Wednesday that people holding money in its banks – many of them Russian and British – must not take a hit in efforts to repair the island’s shattered finances.

Attempts by Cyprus to secure aid have been complicated by concerns about how the island could afford to pay back a debt burden which could potentially reach 17 billion euros ($22 billion) – almost the size of its economy, one of the euro zone’s smallest.

Read moreReuters, March 6, 2013: Cyprus Finance Minister Says Bank Deposits Sacrosanct, Will Be Protected

Cyprus: Bank Holiday Extended Through Tuesday As Confusion Spreads

Cyprus Bank Holiday Extended Through Tuesday As Confusion Spreads (ZeroHedge, March 17, 2013):

For those who read the previous article on the topic of last minute chaos and confusion in Cyprus, and Europe, it will come as no surprise that the previously scheduled Monday bank holiday (aka Green Monday) has been extended into Tuesday. So prepare to not be surprised.

From Kathimerini:

The Cypriot cabinet has declared Tuesday a bank holiday, for fear of capital flight, and this may even be stretched to Wednesday, as depositors are certain to withdraw huge sums from the Cypriot banks after the haircut imposed.

Read moreCyprus: Bank Holiday Extended Through Tuesday As Confusion Spreads

One In Three U.S. Counties Is Dying Off

-? One in three U.S. counties is dying off as aging populations and weak local economies drive away young people (Daily Mail, March 14, 2013):

  • Census data show that 1,135 of the nation’s 3,143 counties are now experiencing ‘natural decrease,’ where deaths exceed births
  • That’s up from roughly 880 U.S. counties, or 1 in 4, in 2009
  • Maine and West Virginia were the only two states where deaths exceed births, which have dropped precipitously after the recent recession
  • New York ranks at the top in new immigrants among large metro areas, but also ranks at the top for young residents moving away
  • The Texas metropolitan areas of Dallas, Houston and Austin continued to be big draws for young adults, ranking first, second and fourth among large metro areas in domestic migration

???A record number of U.S. counties – more than 1 in 3 – are now dying off, hit by an aging population and weakened local economies that are spurring young adults to seek jobs and build families elsewhere.

New 2012 census estimates released Thursday highlight the population shifts as the U.S. encounters its most sluggish growth levels since the Great Depression.

Read moreOne In Three U.S. Counties Is Dying Off

Greece’s Economy Is Falling Apart: Unemployment Reaches Record 26 Percent, Youth Unemployment At 57.8 Percent

Greek unemployment reaches record 26 percent (AP, March 14, 2013):

ATHENS, GreeceUnemployment in debt-crippled Greece rose to a record of 26 percent in the last quarter of 2012, as austerity measures combined with a deep recession took a harsh toll on the workforce.

The figures were worse than the previous quarter’s 24.8 percent, and 20.7 percent a year earlier.

The national statistical authority said Thursday that 1.29 million people were out of a job in October-December 2012. In the under 25 age group, unemployment was 57.8 percent.

The rate for women was 29.7 percent, compared with 23.3 percent for men.

Greece’s economy has been falling apart over the past three years, savaged by its financial crisis. The country is surviving on international rescue loans, released on condition it keeps up a tough program of spending cuts and tax hikes.

17 Signs That A Full-Blown Economic Depression Is Raging In Southern Europe

17 Signs That A Full-Blown Economic Depression Is Raging In Southern Europe – Is The U.S. Next? (Economic Collapse, March 14, 2013):

When you get into too much debt, eventually really bad things start to happen.  This is a very painful lesson that southern Europe is learning right now, and it is a lesson that the United States will soon learn as well.  It simply is not possible to live way beyond your means forever.  You can do it for a while though, and politicians in the U.S. and in Europe keep trying to kick the can down the road and extend the party, but the truth is that debt is a very cruel master and at some point it inevitably catches up with you.  And when it catches up with you, the results can be absolutely devastating.  Greece, Italy, Spain and Portugal all tried to just slow down the rate at which their government debts were increasing, and look at what happened to their economies.  In each case, GDP is shrinking, unemployment is skyrocketing, credit is freezing up and manufacturing is declining.  And you know what?  None of those countries has even gotten close to a balanced budget yet.  They are all still going into even more debt.  Just imagine what would happen if they actually tried to only spend the money that they brought in?

I have always said that the next wave of the economic collapse would start in Europe and that is exactly what is happening.  So keep watching Europe.  What is happening to them will eventually happen to us.

The following are 17 signs that a full-blown economic depression is raging in southern Europe…

Read more17 Signs That A Full-Blown Economic Depression Is Raging In Southern Europe

Cyprus ‘Haircut’: Germany And IMF Initially Demanded Stunning 40% Of Total Deposits!!!

… BUT …

Cyprus Government Thieves To The People: ‘The Situation Is Serious But Not Tragic, There Is No Reason To Panic’

Don’t miss:

BREAKING NEWS: Cyprus Haircut ‘Bailout’ Is Directly STEALING Money From Depositors, Turns Into Saver ‘Panic’, Frozen Assets, Bank Runs, Broken ATMs


Germany And IMF’s Initial Deposit Haircut Demand: 40% Of Total (Zerohedge, March 16, 2013):

As the President of Cyprus proclaims  to his people that “we’ should all take responsibility as his historic decision will “lead to the permanent rescue of the economy,” it appears that the settled-upon 9.9% haircut is a ‘good deal’ compared to the stunning 40% of total deposits that Germany’s FinMin Schaeuble and the IMF demanded. This action, his statement notes, enables the rescue of 8,000 banking sector jobs and ensuring the liquidity of the banks, “allowing the economy to proceed decisively to a new beginning.” Ekathimerini reports,” this is the first time in the eurozone that a levy has been imposed not on the interest of bank accounts but on the capital itself,” and was the only way to bridge most of the the gap between the EUR17bn Nicosia needed and the EUR10bn the ESM was offering, though tax on interest in Cypriot banks will also rise to 20-25%. It is the 40% haircut requirement that concerns us the most as clearly going forward that means other nations, starting Monday (or Tuesday given national holidays) see deposit outflows surge, as the willingness to take such steps is now painfully clear.

Statement by the President of the Republic of Cyprus,

It is well known that the deep economic crisis and the state of emergency in which the country has found itself did not come about in the last fortnight since we have undertaken the administration of the country.

The state of emergency and critical nature of the times do not allow me, as they do not allow anyone, to embark on a blame game.

Read moreCyprus ‘Haircut’: Germany And IMF Initially Demanded Stunning 40% Of Total Deposits!!!

Saxo Bank CEO On Cyprus: ‘This Is Full-Blown Socialism And I Still Can’t Believe It Happened’

From the article:

This is full-blown socialism and I still cannot believe this really happened.”


Cyprus bailout a major game changer (Trading Floor, By Saxo bank CEO Lars Seier Christensen, March 16, 2013):

It is difficult to describe the weekend bailout package to Cyprus in any other way. The confiscation of 6.75 percent of small depositors’ money and 9.9 percent of big depositors’ funds is without precedence that I can think of in a supposedly civilised and democratic society. But maybe the European Union (EU) is no longer a civilised democracy?

I heard rumours about this when I visited Limassol last week, but dismissed them as completely outlandish. And yet, here we are. The consequences are unpredictable, but we are clearly looking at a significant paradigm shift.

This is a breach of fundamental property rights, dictated to a small country by foreign powers and it must make every bank depositor in Europe shiver. Although the representatives at the bailout press conference tried to present this as a one-off, they were not willing to rule out similar measures elsewhere – not that it would have mattered much as the trust is gone anyway. It is now difficult to expect any kind of limitation to what measures the Troika and EU might take when the crisis really starts to bite.

Read moreSaxo Bank CEO On Cyprus: ‘This Is Full-Blown Socialism And I Still Can’t Believe It Happened’

Jaw-Dropping Crimes Of The Banksters

Jaw-Dropping Crimes of the Big Banks (ZeroHedge, March 16, 2013):

Preface: Not all banks are criminal enterprises. The wrongdoing of a particular bank cannot be attributed to other banks without proof. But – as documented below – many of the biggest banks have engaged in unimaginably bad behavior.

You Won’t Believe What They’ve Done …

Here are just some of the improprieties by big banks:

Read moreJaw-Dropping Crimes Of The Banksters

And They Dare To Call This Man (Beppe Grillo) A Clown (Videos)

If Beppe Grillo is a clown, then we need a circus in every town NOW, …

… hoping to attract more clowns!

Here is why …


The following interview needs to be translated into English ASAP!

Italian with German subtitles:


Added: 05.03.2013

Full interview (only Italian):


Added: 01.02.2013

Italian with English and German subtitles:

Here Is Why Italy’s Beppe Grillo Is Causing The Power Elite Central Planners To Wet Their Pants (Video):

Beppe Grillo: ‘Italy Is In Fact Already Out Of The Euro’ (Handelsblatt)

Germany’s Peer Steinbrück (SPD) also called Beppe Grillo a clown.

More on Peer Steinbrück:

SPD Chancellor Candidate And Bilderberg Peer Steinbrück’s Great-Great-Uncle Was A Cofounder Of Deutsche Bank

Bilderberg 2011: The Full Official Attendee List

Cyprus Government Thieves To The People: ‘The Situation Is Serious But Not Tragic, There Is No Reason To Panic’

From the article:

Government spokesman Christos Stylianides tried to calm shell-shocked Cypriots saying: “The situation is serious but not tragic, there is no reason to panic.”

“The Cyprus government had to decide between saving the economy and a disorderly default,” he told the official CNA news agency.

“It’s something that compared to other possible outcomes, is the least onerous,” Cypriot Finance Minister Michalis Sarris said, adding the arrangement meant his government “avoided salary and pension cuts” for the public sector.

‘Saving the economy’ = saving the investors, who were ‘dumb‘ enought to buy government debt = saving the banksters … AGAIN.

Disorderly default’ = ‘orderly’ defaulting on its debt = dumb investors, mainly the banksters, will get ‘wiped out’ … and NOT THE PEOPLE.

Remember Iceland (1, 2, 3, 4, 5, 6, 7)???


See also:

BREAKING NEWS: Cyprus ‘Bailout’: Depositor Accounts With More Than €100,000 Will Be ‘TAXED’ At 9.9%, Those With Less At 6.75%

BREAKING NEWS: Cyprus Haircut ‘Bailout’ Is Directly STEALING Money From Depositors, Turns Into Saver ‘Panic’, Frozen Assets, Bank Runs, Broken ATMs


Cyprus shellshocked over eurozone bailout deal (EU Business, March 16, 2013):

(NICOSIA) – Residents of Cyprus reacted with shock on Saturday after the government agreed to a 10-billion-euro ($13 billion) bailout that includes an unprecedented levy on all bank deposits.

The debt rescue package, agreed with the eurozone and International Monetary Fund early in the morning after around 10 hours of talks in Brussels, is significantly less than the 17 billion euros Cyprus had initially sought.

It includes 5.8 billion euros to be raised through the bank deposit levy of up to 9.9 percent, which will apply to everyone from pensioners to Russian oligarchs and tens of thousands of British expats.

Read moreCyprus Government Thieves To The People: ‘The Situation Is Serious But Not Tragic, There Is No Reason To Panic’

BREAKING NEWS: Cyprus ‘Bailout’: Depositor Accounts With More Than €100,000 Will Be ‘TAXED’ At 9.9%, Those With Less At 6.75%

I call that outright THEFT!

Don’t miss:

BREAKING NEWS: Cyprus Haircut ‘Bailout’ Is Directly STEALING Money From Depositors, Turns Into Saver ‘Panic’, Frozen Assets, Bank Runs, Broken ATMs


Depositors Pay Price in Cyprus Bailout Deal (Wall Street Journal, March 16, 2013):

BRUSSELS—Depositors in Cypriot banks will be hit with a one-off tax on their savings, as part of a €10 billion ($12.96 billion) bailout for the Mediterranean island from the euro zone and the International Monetary Fund.

The deal, announced early Saturday, marks the first time in the euro zone’s five-year-old financial crisis that depositors in bloc’s banks will lose money. Accounts with more than €100,000 will be taxed at 9.9%, those with less at 6.75%, raising an expected €5.8 billion for the near-bankrupt nation.

“This decision should not be compared to the ideal, but to the very real possibility that much more money could have been lost in bankruptcy of the banking system or indeed of the country,” Cypriot Finance Minister Michalis Sarris told reporters, looking strained after 10 hours of often-fraught negotiations.

Read moreBREAKING NEWS: Cyprus ‘Bailout’: Depositor Accounts With More Than €100,000 Will Be ‘TAXED’ At 9.9%, Those With Less At 6.75%

BREAKING NEWS: Cyprus Haircut ‘Bailout’ Is Directly STEALING Money From Depositors, Turns Into Saver ‘Panic’, Frozen Assets, Bank Runs, Broken ATMs

Aaaaand it’s gone …

(In case you have difficulty believing this, here is the related Wall Street Journal article.)

I told you to invest in physical gold and silver (and most important, to keep it outside the banking system).

All the sheeple who still believe in their fiat currencies will get herded, milked, fleeced and slaughtered (at least financially).

There will be very high rates of inflation in Europe and the U.S. and a currency reform where the sheeple will lose at least  50% through devaluation is just around the corner.

So THIS is just the beginning and another (last) warning.

And if you have a problem with your government stealing your money and resist, then you’re going to feel the batons of your not so local riot police squad.

Those (brainwashed) police officers will also get completely fleeced, BUT they have a very secure (and  highly dangerous) job in the coming years to support their family.

Got PHYSICAL GOLD AND SILVER?


Europe Does It Again: Cyprus Depositor Haircut “Bailout” Turns Into Saver “Panic”, Frozen Assets, Bank Runs, Broken ATMs (ZeroHedge, March 16, 2013):

Europe has done it again.

Late last night, after markets closed for the weekend, following an extended discussion the European finance ministers announced their “bailout” solution for Russian oligarch depositor-haven Cyprus: a €13 billion bailout (Europe’s fifth) with a huge twist: the implementation of what has been the biggest taboo in European bailouts to date – the  impairment of depositors, and a fresh, full blown escalation in the status quo’s war against savers everywhere.

Specifically, Cyprus will impose a levy of 6.75% on deposits of less than €100,000 – the ceiling for European Union account insurance, which is now effectively gone following this case study – and 9.9% above that. The measures will raise €5.8 billion, Dutch Finance Minister Jeroen Dijsselbloem, who leads the group of euro-area ministers, said.

But it doesn’t stop there: a partial “bail-in” of junior bondholders is also possible, as for the first time ever the entire liability structure of a European bank – even if it is a Cypriot bank – is open season for impairments. The logical question: why here, and why now? And what happens when the Cypriot bank run that has taken the country by storm this morning spreads everywhere else, now that the scab over Europe’s biggest festering wound is torn throughout the periphery as all the other PIIGS realize they too are expendable on the altar of mollifying voters and investors in the other countries that make up Europe’s disunion.

Bloomberg’s take on the sacrifice of Cyprus’ savers:

Officials have struggled to find an agreement that would rescue Cyprus, which accounts for just half of a percent of the euro region’s economy, without unsettling investors in larger countries and sparking a new round of market contagion. Policy makers began meeting at 5 p.m. yesterday in a hastily convened gathering, seeking to overcome differences on bondholder losses while financial markets were closed.

Read moreBREAKING NEWS: Cyprus Haircut ‘Bailout’ Is Directly STEALING Money From Depositors, Turns Into Saver ‘Panic’, Frozen Assets, Bank Runs, Broken ATMs

‘What In The World Is A Bitcoin?’

FYI.



“What in the world is a Bitcoin?” (Sovereign Man, March 15, 2013):

Earlier in the week, I wrote to you about an Argentine car rental agency that had started accepting Bitcoins as a means to bypass local capital controls.

We received a lot of questions about the article, the most common of which was “What in the world is a BITCOIN?”

Read more‘What In The World Is A Bitcoin?’

All U.S. Intelligence Agencies – Including CIA And NSA – To Spy On Americans’ Finances

All U.S. Intelligence Agencies – Including CIA and NSA – to Spy On Americans’ Finances (ZeroHedge, March 14, 2013):

Reuters notes:

U.S. to let spy agencies scour Americans’ finances

The Obama administration is drawing up plans to give all U.S. spy agencies full access to a massive database that contains financial data on American citizens and others who bank in the country, according to a Treasury Department document seen by Reuters.

Read moreAll U.S. Intelligence Agencies – Including CIA And NSA – To Spy On Americans’ Finances

UK Bankruptcy Tzar On Verge Of Bankruptcy

UK Bankruptcy Tzar On Verge Of Bankruptcy (ZeroHedge, March 13, 2013):

Despite around $135 million in bailouts, the UK government’s Insolvency Service disputes its own insolvency. The FT reports that one British MP summed it up – “it is fair to say that if this was a company it would be in deep trouble.” The group, which polices bankrupt companies, liquidates failed businesses and disqualifies unfit directors, would be bankrupt were it not for the government’s cash injection. Dependent on fees and recoveries from bankrupt companies, the agency over-estimated its ability to recover assets from collapsed businesses. It dismisses the insolvency claims against itself however, noting the service is “living within its means” and expects to be deficit-free by 2015 (though it is unclear how unless they expect recoveries to rise dramatically or bankruptcies to increase significantly) as it is forced to provide services even when there is no prospect of recovering fees from bankrupt people or companies. Their rate of prosecution has dropped from 40% to 21% and even the creditor community has lost faith arguing that the agency’s model was “unreliable in the current economic climate” and required urgent reform.

Via The FT,

The UK government’s Insolvency Service is all but insolvent.

Experts suggest the group, which polices bankrupt companies, liquidates failed businesses and disqualifies unfit directors, would be broke had it not received an emergency injection of cash from the government.

Read moreUK Bankruptcy Tzar On Verge Of Bankruptcy

1936 Redux: It’s Really Never Different This Time!

1936 Redux – It’s Really Never Different This Time (ZeroHedge, March 14, 2013):

While chart analogs provide optically pleasing (and often far too shockingly correct) indications of the human herd tendencies towards fear and greed, a glance through the headlines and reporting of prior periods can provide just as much of a concerning ‘analog’ as any chart. In this case, while a picture can paint a thousand words; a thousand words may also paint the biggest picture of all. It seems, socially and empirically, it is never different this time as these 1936 Wall Street Journal archives read only too wellfrom devaluations lifting stocks to inflationary side-effects of money flow and from short-covering, money-on-the-sidelines, Jobs, Europe, low-volume ramps, BTFD, and profit-taking, to brokers advising stocks for the long-run before a 40% decline.Things look eerily similar eh?

But when we look at the headlines in the Wall Street Journal from mid 1936 to mid 1937 as the market topped out (orange oval), dipped, was bought back, then collapsed 40% in 3 months, nothing ever changes…

Government Bailouts Repaid – Bullish Implications…

N.Y. Central Has Repaid All Government Loans
The Wall Street Journal, 978 words
Dec 1, 1936
WASHINGTON Numerous railroad developments here yesterday were climaxed by the announcement of RFC Chairman Jesse H. Jones that New York Central had repaid all of its government loans, totaling $16,858,950, most of which was not due until 1941.

Read more1936 Redux: It’s Really Never Different This Time!

US To Let Spy Agencies Scour Americans’ Finances

EXCLUSIVE – U.S. to let spy agencies scour Americans’ finances (Reuters, March 13, 2013):

The Obama administration is drawing up plans to give all U.S. spy agencies full access to a massive database that contains financial data on American citizens and others who bank in the country, according to a Treasury Department document seen by Reuters.

The proposed plan represents a major step by U.S. intelligence agencies to spot and track down terrorist networks and crime syndicates by bringing together financial databanks, criminal records and military intelligence. The plan, which legal experts say is permissible under U.S. law, is nonetheless likely to trigger intense criticism from privacy advocates.

Read moreUS To Let Spy Agencies Scour Americans’ Finances

10 Hilarious Examples Of How Clueless Our Leaders Are About The Economy

Denial Is Not Just A River In Egypt: 10 Hilarious Examples Of How Clueless Our Leaders Are About The Economy (Economic Collapse, March 13, 2013):

They didn’t see it coming last time either.  Back in 2007, President Bush, Federal Reserve Chairman Ben Bernanke and just about every prominent voice in the financial world were all predicting that we would experience tremendous economic prosperity well into the future.  In fact, as late as January 2008 Bernanke boldly declared that “the Federal Reserve is not currently forecasting a recession.”  At the time, only the “doom and gloomers” were warning that everything was about to fall apart.  And of course we all know what happened.  But just a few short years later, history seems to be repeating itself.  Barack Obama, Federal Reserve Chairman Ben Bernanke and almost every prominent voice in the financial world are all promising that the U.S. “economic recovery” is going to continue even though Europe is coming apart like a 20 dollar suit.  But the economic fundamentals tell a different story.  Our national debt is more than $6,000,000,000,000 larger than it was back in 2008, the number of Americans on food stamps just hit another brand new all-time record, and the bankers up on Wall Street are selling gigantic mountains of the exact same kind of toxic derivatives that caused so much trouble the last time around.  But all of our “leaders” swear that everything is going to be okay.  You can believe them if you want, but denial is not just a river in Egypt, and another crash is inevitably coming.

Read more10 Hilarious Examples Of How Clueless Our Leaders Are About The Economy