Browsing: Banking and Finance

‘A “Fifth Column” is a group within a country at war who are sympathetic to or working for its enemies.

Even a full-blown war with North Korea or Russia could not inflict the damage done to this Country by Moody’s, Fitch and S&P. The rating agencies have declared war on the United States and the damage they are inflicting will eventually destroy this Country from within.

In 2008, the Country was brought to its knees with the eight trillion-dollar mortgage bond crisis. It again got a taste of what the rating agencies are capable of with the Detroit and Puerto Rico bankruptcies.

You see when a credit rating agency or a bank works on transactions worth hundreds of millions or billions, they deploy their best folks. The most experienced and educated investment bankers. This is also true of the Banks that knowingly sell these fraudulent investments to their unsuspecting clients.’

Read more: Are Credit Rating Agencies America’s Secret Fifth Column?

‘Former Anglo Irish Bank Chairman Sean Fitzpatrick, famously described by RT’s Max Keiser as a “financial terrorist,” is in the clear after being acquitted of all charges in a long-running multi-million euro loans case.

Fitzpatrick served as chief executive of the now-defunct Anglo Irish Bank for almost 20 years before taking up the position of chairman from 2005 until 2008. He resigned amid emerging details of secret loans he had taken out with the bank.

On Tuesday Judge John Aylmer at Dublin Circuit Court in Ireland acquitted Fitzpatrick of 27 charges of misleading the bank’s auditors and furnishing false information about multi-million euro loans to him and to people connected to him between 2002 and 2007.’

Read more: ‘Financial terrorist’: Former bank boss acquitted of all charges despite blowing up Irish economy

‘Google already monitors your online shopping – but now it wants to work with payment firms to monitor what you buy offline as well.

The search giant says it has access to roughly 70 percent of U.S. credit and debit card transactions through partnerships with other companies that track that data.

Now it hopes to use this to tell advertisers when their online ads have led to an offline purchase.

Google believes the data will show a cause-and-effect relationship between online ads and offline sales.

‘Machine learning is key to measuring the consumer journeys that now span multiple devices and channels across both the digital and physical worlds,’ it said.’

Read more: Do YOU want Google knowing everything you buy OFFLINE as well? Firm unveils controversial scheme to analyze credit and debit card records 

‘Brussels officials want every European Union country to be using the euro by 2025, a bombshell new report has claimed.

Nine of the 28 member state in the EU are currently not part of the single currency.

The UK and Denmark are exempt, but the remaining seven nations all agreed to adopt the euro when they joined the bloc.

And now the European Commission has now demanded they them all start using the crisis-hit currency within eight years, according to insiders.

The move, revealed by German publication Frankfurter Allegemeine Zeitung, who obtained a leaked copy of a Comission report, is likely to be fiercely opposed by Hungary, Poland and the Czech Republic’s eurosceptic governments.’

Read more: EU Superstate: Brussels ‘to force EVERY member state to adopt euro by 2025’

‘The International Monetary Fund, European finance ministers, and Greek authorities have fallen short of securing more debt relief for Greece, according to EU officials.

The parties postponed a final decision on a release of further bailout funds for Athens until their next meeting, scheduled for June 15.

“At this point, we have not reached an overall agreement. It looks like the formal conclusion of the second review is very close,” said Eurogroup chairman Jeroen Dijsselbloem after Monday’s meeting.

Greece needs more emergency cash to avoid a default in July when the country faces debt repayments of nearly €7.3 billion.

To get a new installment of bailout funds, Athens has already approved tax rises and additional pension cuts.

However, the EU ministers concluded that the country has not made enough progress on that front and still needs to take further measures.’

Read more: Greece fails to reach bailout deal with eurozone finance ministers

”Those three “Leftist” leaders have not found, in their statement, one word of solidarity for the families of tens of thousands of Greeks who have been driven to end lives they could not tolerate any more, as a result of the “reforms” imposed on Greece by the German and other European governments, the EU and the IMF.

They did not find a word of solidarity for the 1.5 million Greeks living in conditions of extreme poverty as a result of the policy endorsed and applied by Frau Merkel, M. Juncker and Mme. Lagarde.

They did not find a word of solidarity for pensioners who now see their pensions being cut by another 30% in the 17th successive pension reduction in seven years, imposed by the creditors and voted by the Greek Parliament in a context of threat and blackmail. On the contrary, they supported the legislation cutting these pensions.

They did not find a word of sympathy for poor Greek cancer patients who will die because they don’t have the money to pay for treatment in a private hospital, at a time when the Greek health system is crumbling under the cuts imposed as a consequence of the reforms imposed by Germany, the EU and the IMF.’

Read more: The European Left and the Greek Tragedy. Destructive EU-IMF ‘Economic Medicine’

‘Last week, the Greek parliament once again approved more austerity to unlock withheld Greek bailout funds in Brussels: a symbolic move, which has little impact without any actual follow through, like for example, actually imposing austerity. And while Greeks have been very good in the former (i.e. promises), they have been severely lacking in the latter (i.e. delivery).

That may be changing. According to Kathimerini, Greek Finance Ministry inspectors are about to start seeking out the owners of all local undeclared properties, while the law will be amended to allow for financial products and the content of safe deposit boxes to be confiscated electronically. The plan for the identification of taxpayers who have “forgotten” to declare their properties to the tax authorities is expected to be ready by year-end, according to the timetable of the Independent Authority for Public Revenue.

What follows then will be a wholesale confiscation by the government of any asset whose source, origins and funding can not be explained.’

Read more: Greek Authorities To Launch Mass Confiscation Of Safe Deposit Boxes, Securities, Homes In Tax-Evasion Crackdown

‘Puerto Rico’s bankruptcy process has spread to the territory’s pension system and highway authority, bringing the amount involved to over $120 billion and far exceeding the previous municipal bankruptcy record.

The Employees Retirement System (ERS) and the Highways and Transportation Authority (HTA) were added to the proceedings already involving the territory’s government and the island’s sales tax financing corporation (COFINA).

Puerto Rico and its agencies are roughly $74 billion in debt. While there are conflicting estimates about the gap between the ERS assets and promises, Puerto Rico officials estimated the pension fund’s unfunded liabilities at around $45 billion, with another $3 billion owed to bond-holders. The highway agency is another $6.3 billion in debt, $1.8 billion of which is owed to Puerto Rico’s industrial development bank which is itself insolvent.’

Read more: Roads & pensions swept up in Puerto Rico’s $123bn bankruptcy


‘Now that Trump finally figured out he needs lower interest rates to preserve the debt-funded “growth” of the US and prevent the $20 trillion in government debt from spontaneously combusting (as higher rates lead to higher interest outlays, resulting in even more debt and so on)…

… speculation about who may replace Janet Yellen has faded despite her term ending in 2018.

Or maybe it hasn’t, because in an unscheduled meeting, NBC reporter Hans Nichols tweeted on Friday that “Spotted at WH: Mark Carney, governor of the Bank of England. Denied being here for FBI job. But Yellen’s?”

Nichols included a picture of Carney walking the big white building and he’s citing a Bloomberg correspondent. Bloomberg says that Carney met with National Economic Council Director Gary Cohn in Washington on Friday.’

Read more: Ex-Goldman Banker Taking Over The Fed? Mark Carney Spotted At The White House