Browsing: The Money Scam

‘We live in a capitalistic society. Banks are everywhere, and it often seems like cash and credit are required to live. The gap between the haves and the have-nots is growing. And it can sometimes seem like economic inequality is ubiquitous.

But around the world, people are using a system of exchange that requires something everyone is, for the most part, given equally, every day: Time.

How do you trade or exchange time? Through a time bank. At its most basic, you spend an hour doing something for someone in your time banking community, and you then receive a time banking credit of one hour to spend on something you need. For example, if you spend an hour raking your neighbor’s yard, you then have an hour to spend, for example, on childcare or car repair. It’s an hour for an hour. The idea is simple, and it’s growing.’

Read more: Are You Tired of Banks, Credit Cards, and Debt? Consider a System of Trading Time Instead of Money

‘Hunger is a growing problem for US children and increasingly affects their performance in school, making it more difficult for them to focus on their classes or do homework. It also contributes to behavior and discipline problems.

This was the finding of a report issued last week by the anti-hunger charity Share Our Strength, based on a survey of 500 low-income parents and their teenage children in public schools. Some 325 teachers were also interviewed. “Low-income” was defined as at or below 185 percent of the official poverty line, or $45,417 a year for a family of four.

Among children in low-income families, 59 percent said they had gone to school hungry. In the richest country in the world, with the largest concentration of billionaires, one in six children faces hunger, some 13 million in all.

The survey found that 59 percent of the parents reported that their food ran out before they could buy more; 48 percent couldn’t afford to buy enough food each month; and 23 percent had been forced to cut the size of their children’s meals because of a lack of money.’

Read more: Devastating Toll of Hunger on US School Children

‘Graduates will pay as much as £18,000 extra on their student loans because an outdated measure of inflation is used to set their interest rates.

The retail prices index used by the company that manages the loans is almost always higher than the more modern and accurate consumer prices index.

It means the total £93billion debts of students in England and Wales incur £368million a year extra interest than if the consumer prices index (CPI) was used.

A student starting university in September who borrowed £45,000 and earned £41,000 in their first job will repay around £107,000 over 29 years using interest based on the retail prices index (RPI). If CPI was used, they would repay £89,000 over 26 years – £18,000 less.’

Read more: Graduates are paying £18,000 extra on their student loans because outdated measure of inflation is being used to calculate interest

‘Are we right on the verge of one of the greatest financial collapses in American history? I have been repeatedly warning that our ridiculously over-inflated stock market bubble could burst at any time, but former Federal Reserve Chairman Alan Greenspan believes that the bond bubble actually presents an even greater danger. When you look at the long-term charts, you will see that an epic bond bubble has been growing since the early 1980s, and when it finally collapses the financial carnage is going to be unlike anything we have ever seen before.

Since the last financial crisis, global central banks have purchased trillions of dollars worth of bonds, and this has pushed interest rates to absurdly low levels. But of course this state of affairs cannot go on indefinitely, and Greenspan is extremely concerned about what will happen when interest rates start going in the other direction…’

Read more: Former Fed Chairman Alan Greenspan Ominously Warns That The Biggest Bond Bubble In History Is About To Burst

‘A federal jury has found Martin Shkreli guilty on multiple criminal securities fraud charges, and faces years in prison once he is sentenced.

Shkreli, who has been nicknamed “Pharma bro” and called “the most hated man in America”, was sentenced in Brooklyn after a trial that lasted more than a month.

Altogether, Shkreli was found guilty on three of eight charges brought against him. That includes convictions on securities fraud, and conspiracy to commit both securities fraud and wire fraud.

Outside of the court house, Shkreli portrayed the decision as a victory for him: “This was a wtich hunt of epic proportions, and maybe thy found one or two broomsticks, but at the end of the day, we’ve been acquitted of the most important charges,” he said.

Prosecutors in the trial said that a huge trove of evidence showed that Shkreli had duped multiple investors into investing millions of dollars into hedge funds he ran, MSMB Capital and MSMB Healthcare. He did so by falsely claiming to have an superb record of running those types of funds. He also told investors that his investment strategy was low risk.’

Read more: Martin Shkreli – once dubbed ‘most hated man in America’ – convicted of securities fraud

‘A British hacker hailed as a hero for helping shut down a global cyber attack has admitted in a police interview that he created the code of a malware that harvests bank details, a prosecutor said in a Las Vegas court.

Marcus Hutchins, 23, was arrested by the FBI in a first class airport lounge and now faces a maximum of 40 years in jail if convicted.

Hutchins, from Ilfracombe, Devon, plans to plead not guilty to all six counts of creating and distributing the Kronos malware, his lawyer said after his hearing in Las Vegas on Friday.

The 23-year-old, who found a ‘kill-switch’ that derailed the attack that crippled the NHS in May, was granted bail under strict conditions that he pay 30,000 dollars (£23,000) and remain in the US.’

Read more: British computer geek hailed a hero for stopping Wannacry global hack ‘admitted to police he created program which steals bank customers’ details’ 

‘The US establishment has fully outwitted Donald Trump and used his administration’s weakness to declare a fully-fledged economic war on Russia, Prime Minister Dmitry Medvedev has said, adding, that the move leaves no doubt that bilateral ties will never improve.

On Wednesday, Donald Trump signed into law a bill imposing new sanctions on Russia, which Medvedev says has put an end to “hopes for improving our relations with the new US administration.”

“It is a declaration of a full-fledged economic war on Russia,” he wrote in a lengthy strong-worded Facebook post in both English and Russian. “Unless a miracle happens,” the law will affect US-Russian relations for decades, Medvedev wrote.

Warning Washington of a “few consequences,” the Russian prime minister called out the White House’s “weakness” and inability to withstand internal political pressure.

The “Trump administration has shown its total weakness by handing over executive power to Congress in the most humiliating way,” Medvedev wrote.

“This changes the power balance in US political circles,” Medvedev wrote, asserting that the US establishment’s end game is to remove Trump from office.’

Read more: ‘Full-fledged economic war’: Medvedev slams Trump’s ‘humiliating’ cave-in on Russia sanctions

‘Poverty across the European Union has reached new levels while the Brussels elite continues to preach about unity and success.

More than a quarter of children in the 28-member state club are living below the breadline with the total number of poor predicted to reach 100million by 2020.

One in four Europeans are now affected by poverty, with the worst affected nations being in the eastern bloc.

The most recent figures suggest 119 million people were living in poor homes – at risk of poverty.

Figures from 2015 show more than a third of the population was at risk of poverty or social exclusion in Bulgaria, Romania and Greece.

Across Europe 27 percent of children now live in a poor households.’

Read more: No wonder they want BILLIONS from Britain! The EU’s poverty problem EXPOSED

‘Political activists in Kenya have demanded a halt to the ‘grotesque’ waste of ten of millions of pounds of British foreign aid which is funding a general election it is feared will result in a bloodbath.

Britain is helping to pay for the election through a £28.5 million programme known as Deepening Democracy. In a project with 24 other countries, it will contribute a further £2.5 million.

But even Britain’s Department for International Development (DFID) admits there has been ‘no significant improvement in the fight against corruption’ in Kenya in recent years.

Current President Uhuru Kenyatta – son of Kenya’s first president Jomo Kenyatta – was accused by the International Criminal Court of inciting murderous riots between rival political supporters during 2007 elections, when he led the opposition. More than 1,000 people were killed. He protested his innocence but was never brought to trial due to the ‘disappearance’ of key witnesses. He went on to become president in 2013.’

Read more: Grotesque! Fury as Britain gives £30million aid to fund general election in Kenya which activists fear will end in a bloodbath

‘In California and across the country, housing is growing increasingly expensive. Since California’s housing crisis is the most acute, the fight for rent control is heating up across the state. But social housing systems in places like Singapore and Vienna, along with community land trusts provide different solutions for expensive housing.

Three of the country’s most expensive cities are located in the San Francisco Bay Area. As of July, median rent for a one-bedroom in San Francisco is $3,450/month, according to Zumper. Median rent for a one-bedroom in Oakland is $2,100/month, while San Jose’s median rent is $2,390/month. As usual, San Francisco remains the most expensive city in the country. San Jose is third most expensive and Oakland is sixth. Concord’s median rent is $1,620/month, which is a 5 percent increase from last year. In Los Angeles, median rent for a one-bedroom is $2,100/month.’

Read more: Skyrocketing Rents in California Are Part of a Broader US Housing Crisis