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Tuesday, 29 November 2011
(NaturalNews) After years of working diligently to raise the alarm on the precariousness of the global financial system, it has become clear to me that most people still do not grasp the reality of where our global financial system really stands. We are on the verge of a systemic financial implosion that could very nearly wipe out the currency holdings (bank accounts) of hundreds of millions of people, and with each passing day, that long-postponed day of financial reckoning inches ever closer.
“If the European summit could reach a deal on December 9, its next scheduled meeting, the eurozone will survive. If not, it risks a violent collapse,” writes Wolfgang Munchau of the Financial Times (www.ft.com/intl/cms/s/0/d9a299a8-17…). Two years ago, such language would have been spat upon as “doom and gloom fear mongering.” Today it is the mathematical reality across the European Union.
The Polish foreign minister said today that what Europe faces is “a crisis of apocalyptic proportions” (http://www.ft.com/cms/s/0/d29da7fc-…) and urged what is essentially more useless debt bailout tactics to try to delay mathematical reality a little while longer.
I now believe that when the dust settles after the coming debt implosion wreaks economic havoc across the globe, more than a few banksters and money-changers will find themselves indicted, imprisoned, or possibly just hanging from a tall tree at the end of a short rope. That’s how angry the public is going to get when the full realization of the unprecedented theft and criminality of the global banking elite hits them, I fear.
10 days to the economic implosion of the Eurozone?
The EU’s present economic system may not survive the next few weeks. Even if some creative, shifty accounting can be ginned up to keep EU nations solvent, it will only be done so as a temporary delay in the inevitable financial collision that now approaches. Before long, even the denialists and mainstream news minions will have to admit that these global banksters have destroyed the economies of entire nations in much the same way that the Federal Reserve has all but destroyed America’s economic future. The dishonest, debt-mounting schemes which have been pursued by the derivatives-infected global banking industry are nothing less than campaigns offinancial terrorismwaged against the working people of our planet — people who shall, of course, foot the bill for the inevitable damage and destruction that will result.
The criminality of the banksters now seems emboldened by a sense of lawless arrogance:
A large brokerage firm known as MF Global recently collapsed and simply stole the assets of all its customers (http://www.infowars.com/gerald-cele…). Meanwhile, Britain is drawing up emergency plans for the collapse of the Eurozone (http://www.dailymail.co.uk/news/art…). And we now learn that secret Federal Reserve loans pumped $13 billion of profits into the hands of banks which were on the verge of systemic failure (www.ft.com/intl/cms/s/0/d9a299a8-17…).
The banksters are stealing everything from the working class, and governments are going along with the theft, riding shotgun on what is without question the greatest swindle in history. This is what happens when you give up your national sovereignty or turn over control of your money supply to a private, non-government corporation such as the Federal Reserve. This is what happens when you deregulate financial institutions and let the Goldman Sachs controllers influence Congress to get the (corrupt) legislation they want. What we’re dealing with here is runaway criminality…not capitalism.
(Read Full Article)
Monday, 24 October 2011
Vatican Calls For 'Central World Bank' - (Read Full Article)
The Vatican called on Monday for the establishment of a “global public authority” and a “central world bank” to rule over financial institutions that have become outdated and often ineffective in dealing fairly with crises. The document from the Vatican’s Justice and Peace department should please the “Occupy Wall Street” demonstrators and similar movements around the world who have protested against the economic downturn.
“Towards Reforming the International Financial and Monetary Systems in the Context of a Global Public Authority,” was at times very specific, calling, for example, for taxation measures on financial transactions. “The economic and financial crisis which the world is going through calls everyone, individuals and peoples, to examine in depth the principles and the cultural and moral values at the basis of social coexistence,” it said.
It condemned what it called “the idolatry of the market” as well as a “neo-liberal thinking” that it said looked exclusively at technical solutions to economic problems. “In fact, the crisis has revealed behaviours like selfishness, collective greed and hoarding of goods on a great scale,” it said, adding that world economics needed an “ethic of solidarity” among rich and poor nations.
“If no solutions are found to the various forms of injustice, the negative effects that will follow on the social, political and economic level will be destined to create a climate of growing hostility and even violence, and ultimately undermine the very foundations of democratic institutions, even the ones considered most solid,” it said.
It called for the establishment of “a supranational authority” with worldwide scope and “universal jurisdiction” to guide economic policies and decisions.
Monday, 08 August 2011
Gold surges above $1,700 on US downgrade woes - (Read Full Story)
Gold has hit all-time highs of $1,709 following a week in which Standard & Poors’ downgraded the US credit rating and equity markets plummeted on the Eurozone’s ongoing debt crisis.
The precious metal is up over 3% today and represents one of the only asset classes not to be sold off, with the FTSE 100 index opening trading this morning down 1%, while Asian markets shed 2.4%.
The sell-off follows the move by S&P on Saturday to cut the US credit rating from AAA for the first time in history, down to AA+, not long after the country’s political deadlock over raising its debt ceiling and making a deficit reduction
Monday, 20 June 2011
The Collapse of Nations All By The Hand Of Corrupt Bankers - (Read Full Story)
As far as we can discern the US Treasury thus far has spent and borrowed about $100 billion from the federal pension accounts. Unless there is a vote on the cash debt extension prior to August 2nd, government will probably have borrowed some $250 billion to $300 billion. The Treasury is paying virtually no interest on this debt. Three-month Treasury bills are currently yielding zero percent. Our question is how will the funds be generated to fulfill the Treasury’s obligation to the pension fund? What happens if on August 2nd if legislation is not passed? Does this go on forever? We will keep you apprised on new developments.
The current situation regarding the state of recovery in the US has turned from precarious to dismal and as we predicted a year ago May we will have to be treated to QE3 something no one really wants, but as we said before it is inevitable. The Fed and their controllers, the member bank owners of the Fed, know the present approach doesn’t work and it is only a matter of time, as a result of their policies, when more stimulus will be needed, which in turn leads to more inflation.
Due to the current state of affairs Fed Chairman Bernanke has been making one appearance on TV after another. He gets grilled over and over again and he doesn’t like the public reception at all. He shouldn’t, as more and more observers see that two quantitative easings haven’t worked. They cost at least $3.6 trillion in funds created out of thin air, and all they have done is prolong the agony. The flip side is the policy has caused higher inflation. What else can one expect when deficits astound and the Fed has to buy $1.6 trillion in Treasury bonds. A large percentage of this debt is used to wage perpetual war for perpetual peace. During this process the President has bypassed the Constitution and is deliberately repressing the freedoms of American citizens. There no longer is a separation of powers, but virtual dictatorship bought and paid for by Wall Street and banking.
Tuesday, 23 November 2010
Countrywide's Mortgage Document Errors May Doom Bank of America
Testimony in a New Jersey foreclosure case decided last week may spell big trouble for Bank of America (BAC). If what one bank employee said on the stand proves to be accurate, paperwork problems it acquired when it purchased the failing mortgage provider Countrywide in 2008 could leave BofA on the hook for billions of dollars.
Linda DiMartini, a supervisor and operational team leader for the Litigation Management Department of BAC Home Loans Servicing, testified in the foreclosure case of John T. Kemp that it was "customary for Countrywide to maintain possession of the original note and related documents."
If that's true, then Bank of America may discover that it has millions of loans on its books that it thought it had transferred to trusts that issued mortgage backed securities, because 96% of Countrywide loans were ostensibly securitized. As the Congressional Oversight Panel explained, that outcome alone could cause massive damage to a bank's balance sheet. And as bad as that would be, it isn't the only problem that could result from Countrywide hanging on to the note.
Friday, 24 September 2010
The secret deal that changed the monarchy
The Queen has been forced to give up the ultimate right to manage the Palace's financial affairs in a secret deal signed by Palace aides and the Government, The Independent has learnt.
A "financial memorandum" formalising the relationship between the sovereign and ministers also sets out tough terms on how the Queen can spend the £38.2 m handed over by Parliament each year to pay for her staff and occupied palaces.
Friday, 10 September 2010
UN Blueprint: Dismantle Middle Class, Build World Government
A UN blueprint for putting the organization back at the forefront of global governance alarmingly reveals the agenda to re-brand global warming as "overpopulation" as a means of dismantling the middle classes while using "global redistribution of wealth" and increased immigration to reinvigorate the pursuit of a one world government.
United Nations Secretary General Ban ki-Moon and 60 of his top lieutenants met this past Labor Day at a secluded Austrian Alpine retreat in a bid to get the global warming agenda back on track after the dismal failure of Copenhagen.
Monday, 02 August 2010
Congress planning another bank bailout
Congress is at work on a new program that would send $30 billion to struggling community banks, in a process similar to the huge federal bailouts of big banks during the financial crisis. This time, money is more likely to disappear as a result of bank failures or fraud.
Two weeks ago, President Barack Obama declared an end to taxpayer bailouts when he signed a sweeping overhaul of financial rules. In his weekly radio and Internet address on Saturday, he described the new bailout program as "a common-sense" plan that would give badly needed lending help to small-business owners to expand and hire.
Monday, 02 August 2010
Unemployment is a favorite topic of conversation of late, especially among those who are unemployed. I assume it gives them something to do other than watch their lives going down the toilet as the federal government continues with unbelievable levels of deficit-spending and the Federal Reserve continues to create staggeringly more money so that it can be borrowed by the government and then spent, all of which makes prices rise.
Tuesday, 27 July 2010
Watch out, the great £50bn property unload is about to begin
During the property slump of the early 1990s, there was a famous British Property Federation dinner at which the chairman introduced the guest speaker, Andrew Buxton of Barclays Bank, by inviting members to give a warm welcome to "a man to whom we owe more, er, than we can ever repay".
Bankers never seem to learn their lesson about the commercial property market. As the good times roll, they become ever more careless in their real estate lending, only then to lose their shirts in the subsequent bust.