Canadian banking haven myth exposed

Canadian banking haven myth exposed

"One of the reasons that Canadians (and international commentators, other finance ministers and global financial institutions) buy this Canadian banking fairy tale is the way the government accounts for the money borrowed to support the banks." The sorry spectacle of Conservat

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Get rid of your mortgage, loans, because interest rates set to rise

Get rid of your mortgage, loans, because interest rates set to rise

Get rid of your loans, guys and gals, because we are going into a high interest rate period. Very high. It will be the equivalent of going into the double digit interest rates we had in the 80s where many people threw their house keys at the bank and we had record numbers of ba

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E-cigarettes save lives, money

E-cigarettes save lives, money

"We know that cigarettes have thousands of chemicals in them and we know that they are killing us. They have been for over a hundred years. So now, the e-cig industry comes along with only one or two chemicals in their mixture and people are freaking out over these as well. Whe

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US inches closer to big bank charges

US inches closer to big bank charges

Federal prosecutors are nearing criminal charges against some of the world’s biggest banks, according to lawyers briefed on the matter, a development that could produce the first guilty plea from a major bank in more than two decades. In doing so, prosecutors are confronting

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Canada’s home sales top predictions; why a real estate crash is inevitable

Canada’s home sales top predictions; why a real estate crash is inevitable

“The assurance of relatively low borrowing costs has likely given home buyers confidence while rising home values have kept new listings at a healthy level. Stable employment has provided some assurance to owners and buyers alike.” Our website is back after many months of

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Comparing today’s recession/depression to the 1980 recession

Comparing today's recession/depression to the 1980 recession

"Much like today, Americans were concerned not only with high unemployment but increasing budget deficits in the early 1980s. A September 1983 Gallup poll found that three-fourths of the public agreed that the federal government's budget deficit was a great threat (42%) or some

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Why savers are getting screwed

Why savers are getting screwed

"Without the intervention of economic policymakers, interest rates would be naturally higher. That would increase the cost of borrowing for businesses and consumers, but there would be some offsetting economic benefits. Savers are getting screwed by the current monetary policy

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Geithner admits USA bankrupt to US Senate

Geithner admits USA bankrupt to US Senate

"Never in our history has Congress failed to increase the debt limit when necessary. Failure to raise the limit would precipitate a default by the United States. Default would effectively impose a significant and long-lasting tax on all Americans and all American businesses

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World economies on verge of currency revaluations to deal with debt

World economies on verge of currency revaluations to deal with debt

"It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning." -- Henry Ford Basically what the world central banks are doing is increasing their money by devaluin

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Is Obama the next Mugabe of Zimbabwe?

Is Obama the next Mugabe of Zimbabwe?

"America, Britain, Japan, Germany, France, Sweden, Holland, Norway, Canada and Australia make up the Fishmongers Group and their meeting on Tuesday will deliberate on the state of the inclusive government, debt relief, public finance administration and the controversial economi

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US raiding foreign countries with dollars, not soldiers

US raiding foreign countries with dollars, not soldiers

""The United States is going to China and saying: we want you to commit economic suicide, just like Japan did. We want you to follow the same thing: we want you to revalue your currency, we want you to squeeze your companies, we want you to go bankrupt,” says Michael Hudson,

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FDIC wants your retirement cash to save banks: Bloomberg

FDIC wants your retirement cash to save banks: Bloomberg

“The FDIC is constantly looking at structures where we can get the greatest opportunity to tap into capital that we have not had the success reaching through previous disposition methods,” FDIC spokeswoman Michele Heller said in an e-mailed statement. “We welcome and work

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the banker movie

“(CorbettReport) – April 17th, 2011 – The mainstream finally gets around to asking why no banksters have been jailed for the 2008 meltdown; the G20 moves on its aim of establishing a world financial order; and the puppets-in-chief admit it’s all about regime change in Libya.”

In year 2008, the banks were on the verge of all going out of business. In 2008, the bankers lost on the big bets that they made with other people’s money. They had to be rescued by the Federal Reserve’s action of injecting more than a trillion dollars into the financial system. In 2009, the bankers won on the big bets that they made using other people’s money (thanks to the Federal Reserve). In 2009, the bankers rewarded themselves with billions of dollars in bonuses based on their performance in 2009. If their bonuses had been tied to the average performance of their banks over the two years (2008: near bankruptcy, and 2009: recovery thanks to the Fed rescue), then they would not be getting any bonuses.

The bonus system awards gambling wins to the bankers and gambling losses to the taxpayers. This bonus system is still in place and is one of the big reasons that the financial system could fail again. The bankers could have resolved this themselves before the government proposed new rules, but they wanted to have another big payday. The prospect of getting a big payday makes people blind to risks: Blind to the risks of a financial meltdown, blind to the risk that the government would set the rules if the bankers didn’t reform themselves.

Central bankers are crooks, stealing all our savings, our pensions, making them worthless with negative interest rates, to bail out the biggest bunch of crooks in the history of the world and all their spenders like drunken politician masters. Bankers love inflation because it is easier to steal (oops, make money) off of us working people. Too bad they cant go out and earn an honest living like the rest of us have to.

The bankers know the recovery is manufactured and they also know that reform is on the way. When government’s pull back liquidity and programs the economy will seek it’s true bottom; the banker’s will therefore look like ‘profits.’

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This entry was posted on Monday, April 18th, 2011 at 7:02 pm and is filed under Bankruptcy. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

1 Comment

  1. April 19, 2011 @ 4:39 am


    There are certainly many that belong in gaol & I think the Pollies will regret it if they fail to chase these people who obviously feel they are above us & the law that is supposed to bind us all. For these criminals to get public money & be virtually rewarded for ruining many peoples lives is downright disgusting.
    The incredible thing is that most average people that work would give you back your wallet if they saw it fall but these bastards who are mythically supposed to be people of upstanding standards in our society would obviously take the wallet out of your pocket while they’re lining up the next person to fleece.
    Surely they’ll be made to pay for their corrupt actions, if not legally I think others will take things into their own hands & for that no one could blame them.
    My best to you all.

    Posted by GJS

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