You Saw This Crisis Before It Became News

Bankers and politicians Jailed
From signs that the 2016 Olympics are in jeopardy, to shipping said to have ceased, to escalation of World War, to Bank Bail Ins.
Who has not heard the alarms?
Turbulence is everywhere I look and everything is connected in a fraudulent worldwide monetary system based on deception, debt and taxation.
To make this worse is the fact that psychopaths and criminals are the officials in charge…

1funny money
About $21 billion have been pulled out of equity funds

Bloomberg Business News reports:
Is It Over Yet? Two Weeks In, 2016 Feels Like Year of the Bear

Not even the pessimists on Wall Street thought things would go so wrong so fast in 2016.

For the first time in 12 years, oil is below $30 a barrel. China is struggling to prop up its slowing economy and calm its volatile stock market. For the moment, the bears have the upper hand — and January is only half over. As the Dow Jones Industrial Average sank 391 points on Friday, investors the world over seemed to be groping for any good news.

– Lost Trust & Bail Ins –
Portuguese Prime Minister Antonio Costa widens rift with Central Bank on Novo Banco

German Chancellor Angela Merkel, right, looks at a packet of cakes as she talks with Portugal's Prime Minister Antonio Costa during an EU summit in Brussels on Thursday, Dec. 17, 2015. European Union heads of state meet Thursday to discuss, among other issues, the current migration crisis and terrorism. (AP Photo/Geert Vanden Wijngaert)

German Chancellor Angela Merkel, right, looks at a packet of cakes as she talks with Portugal’s Prime Minister Antonio Costa during an EU summit in Brussels on Thursday, Dec. 17, 2015. European Union heads of state meet Thursday to discuss, among other issues, the current migration crisis and terrorism. (AP Photo/Geert Vanden Wijngaert)

Portuguese Prime Minister Antonio Costa said he was concerned by the central bank’s treatment of Novo Banco SA bondholders and the possible impact on confidence in the nation’s lenders.
The government was “apprehensive about the systemic effects” of imposing losses on some senior bondholders, Costa told lawmakers in parliament on Friday. These concerns were expressed to the Bank of Portugal, he said. He didn’t say whether this happened before the central bank announced its decision.

The premier’s comments deepen a divide between the government and central bank regarding the transfer of about 2 billion euros ($2.2 billion) of Novo Banco bonds to a bad bank late last month. The move sparked complaints from noteholders about significant losses and unequal treatment, while the central bank has said it focused Novo Banco losses on institutions to shore up depositors’ confidence. –Bloomberg Business

Meanwhile Reuters reported:

Last year, the central bank failed to sell Novo Banco, which was carved out of failed lender Banco Espirito Santo after a 4.9 billion euro state rescue in 2014, as bids came in too low with investors concerned about its liquidity and potential contingencies.

On Dec. 29, the central bank took a controversial decision to transfer nearly 2 billion euros in bonds from Novo Banco back to Banco Espirito Santo, making some investments nearly worthless, a decision private bondholders plan to challenge in courts.

The transfer was meant to plug a 1.4 billion euro capital shortfall identified by an ECB stress test after the rescue. The Bank of Portugal said at the time the solution should help to lure investors and sell Novo Banco on the second attempt. –Reuters

Federal Reserve Official Confesses They Rigged Stock Market

Here are the significant quotes from Richard Fisher on CNBC’s video:

What the Fed did — and I was part of that group — is we front-loaded a tremendous market rally, starting in 2009.

We front-loaded at the Federal Reserve an enormous rally in order to accomplish a wealth effect.

A lot of people are building cash positions…. Those [investors] that are taking a longer term view are being extremely cautious here, are raising their cash levels, are nervous about the valuations that are in the market.

The values are very richly priced here, so I could see significant downside.

I was warning my colleagues, “Don’t go wobbly if we have a 10-20% correction at some point…. Everybody you talk to … has been warning that these markets are heavily priced.

You have to be careful here and frank about what drove the markets…. It was, the Fed, the Fed, the Fed, the European Central Bank, the Japanese Central bank … all quantitatively driven by central bank activity. That’s not the way markets should be working…. They were juiced up by central banks, including the Federal Reserve…. So, I think you have to acknowledge reality.

In a dynamite interview, Richard Fisher, former president and CEO of the Federal Reserve Bank of Dallas, gave what may be the biggest confession you’ll ever see and hear from a Federal Reserve insider: the Federal Reserve knowingly “front ran” the US stock market recovery (i.e., manipulated the market) and created a huge asset bubble. Fisher expresses certainty that the “juiced” stock market will come down and is coming down now that the Fed has taken its foot off the accelerator … and that it has a long way yet to go. –

Richard Fisher threw the rest of his colleagues (including Janet Yellen) under the bus in a futile attempt to excuse himself, his past actions and culpability.
Mr. Fisher said he voted for QE1 and QE2 but thought QE3 was not needed.
This criminal [Richard Fisher] is telling you, flat out, that a massive wealth transfer is taking place and whatever funds are in the stock market, well, they will belong to someone else and no longer be part of your 401k, IRA or private pension plan.
You have been warned by the criminal that instigated the theft.



Want Worldwide PEACE and Prosperity. We are the solution we have been searching for... Free People on Earth will solve our crisis and create an era of Creativity. Be Aware; Be Creative; Be Active; Be Free; and then Share it. LOVE & Wholeness AMOR y Paz

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13 comments on “You Saw This Crisis Before It Became News
  1. RonMamita says:

    International investor confidence shaken by Bank of Portugal governor
    Created: 15 January 2016

    The Financial Times has joined in the rising clamour surrounding the Bank of Portugal’s governor whose recent series of actions have caused international opprobrium, with overseas investors’ trust in Portugal at a depressing and avoidable low.

    The recent stripping of investors of €2 billion in bonds held by Novo Banco has affected the principle of equal treatment of debtors, has left large institutions such as Pimco hundreds of millions out of pocket and has left another group of individuals without their life savings.

    Pimco, one of the largest asset managers in the world, has compared Portugal to Venezuela, accusing the country of “confiscation” and has promised legal action to recover its investors’ money from Portugal, i.e. from the taxpayer – yet again.

    The European Central Bank, when asked about the Bank of Portugal’s move, said it was down to the Bank of Portugal, as did the Portuguese government which has “difficulties and concerns” and is trying to put as much space as possible between itself and the bank’s governor Carlos Costa who now is seen as a ‘dead man walking.’

    Costa’s blunder was thinking that it was only big institutions that would suffer his €2 billion vanishing act but individual clients are grouping together that have lost over €60 million, some have lost their life savings in a near repeat of the ‘BES-deposit-account-to-valueless-shares’ scandal dreamed up and actioned by BES chief laundry man Ricardo Salgado as his empire of the sun was extinguished by a flood of red ink.

    Portugal former Prime Minister Pedro Passos Coelho said that Carlos Costa’s actions have “undermined the trust of foreign investors” and few now disagree.

    The Canadian rating agency DBRS has warned, rather politely, that the decision by the Bank of Portugal over the Novo Banco bonds may bring “increased risks” and “impact on investor sentiment and confidence in the Portuguese banking system.”

    The rating agency warns that the decision to strip investors of €2 billion, to make Novo Banco more saleable, may hamper the full return of Portuguese banks to the international lending markets because there now is a weakening of investor confidence causing higher funding costs which in turn will affect profits.

    Add to this the Banif bailout fiasco, where Carlos Costa rushed through a deal that is eye-wateringly expensive for the taxpayer, and things are not looking good for the embattled governor.

    It is not just Carlos Costa’s actions that are causing international eyebrows to rise and hover.

    The government is not helping sentiment as it aims to take TAP back into public ownership, and scraps PPP funding arrangements for transport facilities in Lisbon and Oporto.

    All of which have made Portugal look unreliable, unfair, arbitrary and not a sound place in which to invest.

    The association of senior bond-holders who have lost millions in the controversial Novo Banco bond dump has warned that suicides and situations of social hardship are set to follow.

    Despite the fact that the Bank of Portugal claimed only to be taking the money of institutions to clean-up Novo Banco’s dodgy accounts, it has fleeced at least 55 small investors of over €6 million, some of whom have literally nothing left but a suitcase to call their own.

    These people had been assured their investments were ‘safe as houses’, a source for the association told us this week.

    There is even one Portuguese woman, close to retirement, who was encouraged to invest in the bonds only weeks before they were consigned to the toxic wasteland of BES.

    “She lost 500,000 euros overnight”, the source explained. “They were her entire life savings.

    This is all so sad”.

    The group is on the attack, issuing a hard-hitting press release last night in which they warn that the BdP decision “could contribute to situations of suicide, with effects of a social nature that are always undesirable”

    The €2 billion bond dump by the central bank run by Carlos Costa is not only illegal, claims the association, it is “an attack on Portugal’s superior public interest”. It will have “very negative consequences” on the future of the country’s financial system, and on the national economy.

    As the country’s best-read national tabloid Correio da Manhã carries a double-page spread affirming that foreign investors are already thinking twice about putting their money in Portugal, the association suggests governor Costa has lost all credibility.

    The man described as Mr Magoo over his ‘resolution’ of Banif bank before Christmas, is painted as a regulator who has compromised the very image of Portugal and whose only form of defence is silence.

    Explaining that their efforts to have a meeting with Costa were met with the information that “the Governor of the Bank does not meet private citizens”, the association’s press statement said:

    “The minimum we expected from a governor was that he met us face-to-face to explain the reasons for the BdP taking this decision. What has happened is an outrage and an attack on democratic rights!”

    It is also a decision that has now received resounding criticism from almost every quarter imaginable.

    Hopes are that there may still be a way of reversing the move, though they are slim.

    As the AOSPNB (association of senior private bond holders damaged by Novo Banco) went on the attack, Económico website ran with the story that, even if British courts rule BdP’s carve-up of BES as illegal, the Bank will take no notice.

    The headline: “Bank of Portugal will ignore decision by London court” suggests BdP’s decisions could take some breaking.

    As Bloomberg has reported, the bail-in has begun in Portugal. These people will simply confiscate our money and now they are trying to move to electronic money to prevent bank runs and hiding cash. The move to electronic money will appear in Europe first. Martin Armstrong


  2. RonMamita says:

    Goldman Sachs fined $5 billion but is Still Above the Law

    Goldman Sachs is finally paying a price for the role it played in 2007 mortgage scandal, but of course nobody goes to jail proving Goldman still remains above the law. The Wall Street firm agreed to only a civil settlement of up to $5 billion with federal prosecutors and regulators arising from it marketing and selling of known faulty mortgage securities to investors they created. –Martin Armstrong

    Goldman Sachs Announces a Settlement in Principle with the RMBS Working Group

    NEW YORK, January 14, 2016 — The Goldman Sachs Group, Inc. (NYSE: GS) today announced that it has reached an agreement in principle to resolve the ongoing investigation of the Residential Mortgage-Backed Securities Working Group of the U.S. Financial Fraud Enforcement Task Force (RMBS Working Group).

    The agreement in principle will resolve actual and potential civil claims by the U.S. Department of Justice, the New York and Illinois Attorneys General, the National Credit Union Administration (as conservator for several failed credit unions) and the Federal Home Loan Banks of Chicago and Seattle, relating to the firm’s securitization, underwriting and sale of residential mortgage-backed securities from 2005 to 2007.

    The agreement in principle will reduce earnings for the fourth quarter of 2015 by approximately $1.5 billion on an after-tax basis.

    Under the terms of the agreement in principle, the firm will pay a $2.385 billion civil monetary penalty, make $875 million in cash payments and provide $1.8 billion in consumer relief. The consumer relief will be in the form of principal forgiveness for underwater homeowners and distressed borrowers; financing for construction, rehabilitation and preservation of affordable housing; and support for debt restructuring, foreclosure prevention and housing quality improvement programs, as well as land banks.

    Lloyd C. Blankfein, Chairman and Chief Executive Officer of The Goldman Sachs Group, Inc., stated, “We are pleased to have reached an agreement in principle to resolve these matters.”

    The agreement in principle is subject to the negotiation of definitive documentation, and there can be no assurance that the firm, the U.S. Department of Justice and the other applicable governmental authorities will agree on the definitive documentation.

    The Goldman Sachs Group, Inc. is a leading global investment banking, securities and investment management firm that provides a wide range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments and high-net-worth individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in all major financial centers around the world.

    Cautionary Note Regarding Forward-Looking Statements:

    This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are not historical facts, but instead represent only the firm’s beliefs regarding future events, certain of which, by their nature, are inherently uncertain and outside the firm’s control. The firm has included in this press release, and directors, officers and employees of the firm may provide, information about the agreement in principle to resolve the RMBS Working Group investigation and its impact on the firm’s results of operations, financial condition and cash flows. The statements with respect to the agreement in principle, including the reduction in earnings for the fourth quarter of 2015, are forward-looking statements, based on the firm’s current expectations regarding the ultimate terms of the definitive settlement documentation. Accordingly, the effects of the definitive settlement, as well as the firm’s ability to negotiate definitive documentation for the settlement, may change, possibly materially, from what is currently expected. For a discussion of some of the other risks and important factors that could affect the firm’s results of operations, financial condition and cash flows, see “Risk Factors” in Part I, Item 1A of the firm’s Annual Report on Form 10-K for the year ended December 31, 2014.

    # # #

    Media Contact:
    Jake Siewert
    Tel: +1 212 902 5400

    Investor Contact:
    Dane E. Holmes
    Tel: +1 212 902 0300


  3. RonMamita says:

    China Unwinding Stock Bubble and Its Contagion Effects

    Click to Listen to podcast
    [audio src="" /]

    Jack Rasmus continues analysis of China’s unwinding stock bubble and explains how it is connected to China currency devaluation, slowing real economy, and currency speculators in Hong Kong markets.
    How currency devaluation exacerbates stock decline and vice versa and how real economic slowing in China, now no more than 5% GDP annual growth, interacts with the other forces. China’s revolving bubbles, from property markets to entrusted loans and WMPS, to stock markets is explained. China’s $1trillion capital flight in 2015 and government policy makers spending of $500 billion to prop up stocks and currencies. How China’s massive credit-debt and liquidity buildup since 2009 is behind it all. And behind that the rise of shadow banks and the new global finance capital elite. Jack concludes with exploration of possible contagion effects from China’s continuing bubble unwind—on US corporate profits, stock investor contagion, on emerging market economies, and the parallel bubble deflation in global oil prices that continues.

    Jack concludes the global economy is moving faster now toward another financial crisis and global recession, which will be precipitated, he predicts, by China and then centered in emerging market economies. US and other advanced economies are far less prepared or able to contain the next crisis. (For deeper analysis, see Jack’s chapter 6 on China in his new book, ‘Systemic Fragility in the Global Economy’, January 2016, available from his blog at and on Amazon.)

    Iran, India to settle outstanding crude oil dues in rupees

    The payment agreement needs amendment as tax exemption is contingent on the pact notified by the Centre in January 2012 which allows only 45 percent of oil payments in rupees.
    – See more at:


  4. All bubbles pop eventually.


    • RonMamita says:

      The crisis in government, an opportunity for increased awareness and imagination among each of us to implement alternatives as the institutions continue to follow their same old script.
      Everything is connected:

      Tight budgets are forcing many Brazilian cities to cancel Carnival celebrations

      Cities across Brazil are cancelling carnival celebrations as increasing economic woes hit Latin America’s largest economy. Local governments are citing tightened budgets, with lower tax revenues and more important projects in need of funding. –


      Published on Jan 14, 2016
      In spite of French-led U.N. Security Council Resolution 1973 creating a no-fly zone over Libya with the express intent of protecting civilians, one of the over 3,000 new Hillary Clinton emails released by the State Department on New Year’s Eve, contain damning evidence of Western nations using NATO as a tool to topple Libyan leader Muammar al-Gaddafi. The NATO overthrow was not for the protection of the people, but instead it was to thwart Gaddafi’s attempt to create a gold-backed African currency to compete with the Western central banking monopoly.

      The emails indicate the French-led NATO military initiative in Libya was also driven by a desire to gain access to a greater share of Libyan oil production, and to undermine a long term plan by Gaddafi to supplant France as the dominant power in the Francophone Africa region.

      The April 2011 email, sent to the Secretary of State Hillary by unofficial adviser and longtime Clinton confidante Sidney Blumenthal with the subject line “France’s client and Qaddafi’s gold,” reveals predatory Western intentions.

      Read more at:

      “BEWARE” Surveillance Software Pope Meets Eric Schmidt

      A source close to the Vatican, who was familiar with the details of the meeting but not authorised to speak on the record, confirmed the brief meeting would take place on Friday. Another source familiar with the meeting said Schmidt was due to meet with the pope privately along with Jared Cohen, a former US state department official who is now head of Google Ideas. Schmidt co-wrote a book with Cohen in 2013 called The New Digital Age: Reshaping the Future of People, Nations and Business.


  5. RonMamita says:

    Dis-spell the Spells

    Imagine the removal of psychopaths and their deceptive institutions.
    Remove the departments of War now marketed as defense.
    Imagine the removal of spy agencies and mass surveillance.
    Imagine the removal of money as debt and its mandatory taxation system.

    Your language usage is either empowering the bad spells or dispelling the bad spells.
    As sovereign, the master of self, we critique everything and everyone. Yes it is a kind of lack of trust in others, because this is the Age of Deception…

    The saviour was never external.
    Go within, we are a powerhouse of creative energy.
    The change begins from within.

    The lesson is increased awareness:
    make your speech match your intentions
    make your intentions known and remove those foreign thoughts that hinders your intentions…


  6. RonMamita says:

    Rob Kirby:

    They are playing GOD and unwilling to give that up!
    Click here to listen
    [audio src="" /]

    Hugo Salinas Price: Is Bloomberg hiding something?

    3:30p Friday, December 18, 2015

    Dear Friend of GATA and Gold:

    Hugo Salinas Price of the Mexican Civic Association for Silver, who two weeks ago noted the steady decline in international reserves held by central banks —

    — notes today that Bloomberg News seems to have stopped publishing its weekly accounting of those reserves.

    Salinas Price writes that “the contraction of international reserves announces a secular change of trend to liquidation of international debt and consequently to depression.”

    His analysis is headlined “Is Bloomberg Hiding Something?” and it’s posted at the association’s Internet site,, here:

    CHRIS POWELL, Secretary/Treasurer
    Gold Anti-Trust Action Committee Inc.

    Bloomberg has been gathering data on the total of Central Bank International Reserves for many years. Since December 1, 2010, the information has been updated every Friday, and has been available on a Bloomberg website, accessible only by subscription.

    On Friday, December 11 of the present year, Bloomberg published no information regarding International Reserves as of that date.

    On Friday, December 18, once more, Bloomberg published no information regarding International Reserves as of that date.

    Curiously enough, on Monday, December 1, 2015, we published an article on this website, click here “The Crumbling World Order, and Who Will Pick Up the Crumbs?” which pointed out that International Reserves have been contracting since August 2014 and up to November 27, 2015, had diminished by $752 billion dollars, or 6.25% of the total achieved at the peak back in August, 2014. And we remarked that this contraction was unprecedented, since we have data going back to 1948, and never, ever, has there been a sustained contraction in the total of Central Bank International Reserves since the creation of the present international monetary system in 1944, at Bretton Woods.

    In our opinion, the present contraction of International Reserves announces a secular change of trend to liquidation of international debt and consequently to Depression. –Hugo Salinas Price

    Video posted 10 Jan 2016

    U.S. Debt to GDP over 100% Canada = 171% WOW!

    Canada in economic crisis – Some Canadian oil at $8 barrel


    Oil Is So Cheap And Rockefeller & Rothschild Are Involved


    • RonMamita says:

      Ron Paul Calls for End to Petrodollar System

      01.22.2016 / Ron Paul Calls for End to Petrodollar System

      Fewer orders at Apple suppliers could signal first iPhone sales decline

      Some of Apple Inc’s main Asian suppliers expect revenues and orders to drop this quarter, indicating iPhone sales are almost certain to post their first annual decline since the flagship product was launched almost a decade ago.
      Earlier this month, people familiar with the matter told Reuters that Taiwan-based Foxconn, which assembles most iPhones, had taken a rare decision to cut working hours over a major holiday during which workers usually rack up overtime.

      Foxconn, the trade name for Hon Hai Precision Industry Co Ltd, saw its December revenues slump by a fifth and 2015 sales miss expectations.

      A more detailed picture about Apple’s outlook could emerge next week if key suppliers including LG Display Co Ltd, SK Hynix Inc and Samsung Electronics Co provide first-quarter forecasts when they report December-quarter earnings.

      First-quarter revenues at both LG Display and Hynix are expected to fall around 10 percent, according to Thomson Reuters I/B/E/S data.


  7. RonMamita says:


    If this isn’t the start of the crisis, just imagine how bad the real crisis is going to be
    Written by Simon Black

    Chances are you’ve never heard of William White.
    You might have heard of the organization that he used to manage—the Bank of International Settlements (BIS).

    The BIS is often called the central bank of central banks; their role is essentially to facilitate international financial transactions among the world’s central banks.

    So they are a major component in the international financial system, just like the IMF and World Bank.

    William White is a central banker who used to be on the BIS management committee. And this makes him a key member of the global financial establishment.
    According to White, the global financial system is dangerously unstable.

    “The situation is worse than in 2007,” he said, and went on to explain that central banks no longer have the ammunition to fight off a major crisis.

    He railed against the mountain of government debt that has accumulated worldwide, saying that “it will be obvious in the next recession that many of these debts will never be serviced or repaid.”

    White also suggested that banks, particularly in Europe, will have to be recapitalized on an unimaginable scale.

    And due to all the new regulations, it will be depositors who have portions of their accounts confiscated by the state in order to fund the bank bailouts.
    When he gave the interview, the Fed’s balance sheet was leveraged 77:1. Today, barely a month later, it’s over 100:1. Incredible.

    Financial markets have been in panic mode since the beginning of the year.

    Just in the first few weeks of January, US stocks are down more than 10%. In China, the epicenter of the chaos, stocks are down 20%.

    Commodity prices continue to fall. Pessimism abounds.

    Look, maybe this is it. Maybe the global financial system has truly reached its limit.

    Maybe the world has realized that the path to prosperity is not in conjuring money out of thin air, raising taxes, or going deeper into debt.

    Maybe people have finally figured out that an insolvent government and insolvent central bank cannot possibly continue to underpin the entire financial system.

    Or maybe not.

    Maybe this will all be forgotten in a few weeks. And this coming Christmas no one will remember the great crisis of January that almost was.

    But to me the incredible thing is how much panic there has been, particularly in banking and financial markets, just at the mere HINT of problems in the system.

    It’s a clear indication of how quickly people can lose confidence and an entire system can become unglued.

    Maybe things drag on like this for years, with government continuing to pile up debt and central banks continuing their slide into insolvency.

    Maybe interest rates can become even more negative, and banks can become even less liquid.

    But one day that confidence will turn. And as this month shows, it can all happen in an instant.


    World faces wave of epic debt defaults, fears central bank veteran

    “The situation is worse than it was in 2007. Our macroeconomic ammunition to fight downturns is essentially all used up,” said William White, the Swiss-based chairman of the OECD’s review committee and former chief economist of the Bank for International Settlements (BIS).
    “Debts have continued to build up over the last eight years and they have reached such levels in every part of the world that they have become a potent cause for mischief,” he said.

    “It will become obvious in the next recession that many of these debts will never be serviced or repaid, and this will be uncomfortable for a lot of people who think they own assets that are worth something,” he told The Telegraph on the eve of the World Economic Forum in Davos.

    Ellen Brown-Depositors Die and Banks Live in Next Financial Calamity

    It’s our money and ‘We the People’ back it, and clearly we back it. We are making these banks too-big-to-fail, and we are backing these banks. They are sucking the profits out like a parasite from the economy. The profit should go back to the people. The credit should go into manufacturing jobs. Manufacturing is disappearing because the banks make more money on derivatives than by making loans to small and medium size businesses, which is where manufacturing comes from and where jobs come from.”

    Brown warns that people are more at risk in the U.S. to lose their savings because the five biggest banks have nearly $250 trillion in derivatives. In a financial calamity that could cause mass bankruptcies, recent legislation says the derivative holders will be paid first. Brown explains, “The have super priority over everything. . . . All the creditors’ money will be taken in a bail-in. A bail-in is the opposite of a bankruptcy. In a bankruptcy, the bank is liquidated in order to pay off the creditors. In a bail-in, the creditors’ money is taken in order to keep the bank alive. So, we get to die while the bank lives instead of the reverse. They specifically say ‘creditors’ which means shareholders and bond holders, but what most people don’t realize is depositors are also considered creditors. When you put your money in a bank, it becomes the property of the bank, and all you have is an IOU.”


  8. RonMamita says:

    Brazil Has Fallen Into Its Worst Recession Since 1930s

    Brazil, world-famous for its carnival celebrations in Rio and elsewhere, is canceling the festivities this year. across the country towns and cities “are being forced to scrap the annual carnival parade as the country is braced for what is expected to be the worst recession since at least the 1930s.”


    Euro zone consumer confidence falls in January

    Euro zone consumer confidence fell 0.6 points to -6.3 in January from December, the first estimate by the European Commission showed on Thursday.

    This is well below expectations of economists polled by Reuters, who forecast an unchanged reading at -5.7.


    Global unemployment to rise by 3.4 million in two years

    Report says.
    [Worlwide unemployment is set to experience continuing high rates, warns a recent International Labor Organization (ILO) report, that notes chronic vulnerable employment in many emerging and developing economies are still deeply affecting the world of work. The report had more dire warnings, including consecutive years ahead of rising unemployment beyond 2017! Expect massive layoffs trend for some years ahead… ~Ron]

    International Labour Organization predicts joblessness will surpass 200 million by end of 2017 for the first time on record

    More than 3 million people will become unemployed worldwide in the next two years, making existing jobs vulnerable and fuelling potential social unrest as the global economy slows, a report warns.

    The International Labour Organization predicts unemployment will rise by about 2.3 million this year to 199.4 million, and that 1.1 million will be added to the global count in 2017, taking joblessness to more than 200 million for the first time on record.

    The ILO, a UN agency focused on labour standards and social protection, said the effects of last year’s economic slowdown would play out in higher unemployment in 2016, particularly in Asia, Africa, Latin America and the Middle East.

    Developing markets in those areas will bear the brunt of increased joblessness after the prices of oil and other commodities tumbled in response to slowing growth, the ILO said in its World Employment and Social Outlook report for 2016.

    The ILO released the forecasts as the global financial elite gathered in the Swiss ski resort of Davos for the World Economic Forum’s annual meeting. The event takes place as oil prices hover near 13-year lows below $30 a barrel, share prices tumble and analysts try to determine the impact of China’s slowing economy.

    Raymond Torres, one of the report’s authors, said market turmoil at the start of 2016 meant his already gloomy predictions could prove overoptimistic.
    The International Monetary Fund [IMF] cut its global growth forecast on Tuesday.


    Retail Sales Dip To Record Six-Year Low

    New figures from the U.S. Commerce Department show that the retail industry last year experienced its worst sales since 2009.



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January 2016
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