Tag Archives: banks

Business/Economics, International, U.S.

LIBOR: U.K. orders new investigation! Top three Japanese banks involved in international rate fixing! Bank governor admits banks are “deceitful”! More proof of Trilateral policies, & that the Too Big to Fails caused the economic mess!

“Your working hypothesis should be that every bank in the industry did some version of this same thing. There will be more to come.”-unnamed banking official in letter to British news media

02 July 2012, Marcus Agius, a chairman of evil British Empire’s Barclays has resigned.  Barclays recently settled with U.S. and U.K. regulators over the LIBOR scandal. The settlement was a pittance compared to the damage Barclays, and other banks caused.

The general public in Britain has been calling for Barclays boss, Bob Diamond, to resign as well.  Public officials are calling for criminal charges: “…when we’re setting up the National Crime Agency we should look at the record of the Serious Fraud Office. I suspect financial crime is easier to get away with in this country than practically any other sort of crime.”-Ken Clarke, Justice Secretary of United Kingdom

Barclays “systematically” falsified data to set the London Interbank Offered Rate, or LIBOR.  Regulators from Switzerland and U.K., are investigating at least 20 banks, including the top three banks in Japan (for fraudulent Tokyo Interbank Offered Rate or TIBOR), banks in Canada, U.S. and European Union!  Elites from Japan, North America and Europe are members of the private organization Trilateral Commission.

Mervyn King, Governor of the Bank of England, said LIBOR “is now dead”, and even called the very banking system he represents “deceitful”!  Now the British government is calling for a new independent investigation into the British banking system and LIBOR.

The amount of money manipulated by the LIBOR (and now TIBOR) scandal is estimated at more than $361 trillion USD!!!

Business/Economics, International, U.S.

What Economic Recovery? European unemployment rate holds on to record highs! Austerity policies to blame! Trilateral policies in motion!

02 July 2012, the European Union (EU) statistical office released unemployment data from its member countries.  Record high rates persist.

For the month of May, Spain set a new record of 24.6%! Unemployment for Spanish people under 25 years of age hit 52.1%!  For perspective, that’s more than 5.6 million people out of work in a country with a population of 46 million people!

Portugal at 15.2%, Italy at 10.1%.  In total, the number of people unemployed in the EU reached 17.6 million, an increase of 88,000 from April to May 2012!

Greek numbers are months behind, but their report for March shows an increase in unemployment, to 21.9%!  Unemployed Greek youths are also at 52.1%!

EU officials noted that the greatest increase in unemployment are in member countries that have harsh austerity policies (cut spending, increase taxes, which are publicly stated policies of the Trilateral Commission).

 

 

Business/Economics, International, U.S.

World War 3: Europe enforces oil sanctions against Iran. Iran prepares to close Hormuz Strait. Iran creates $14 billion fund to expand oil industry! More examples of Chock Full o’Crap western media!

“There is a bill prepared in the National Security and Foreign Policy committee of Parliament that stresses the blocking of oil tanker traffic carrying oil to countries that have sanctioned Iran.”-Ibrahim Agha-Mohammadi,  Member of Iranian Parliament

02 July 2012, in a move that seems counter to the European Union (EU) oil sanctions that went into effect on 01 July 2012, Iranian lawmakers say they will block oil shipments to Europe by closing the Strait of Hormuz.

It’s also meant to show that Iran does not need European countries for its oil business.  As of Sunday, 100 of the 290 members of Iran’s parliament have signed the bill.

Also today, Iran created a $14 billion USD fund to expand its oil industry: “The $14 billion fund can create a remarkable momentum in the oil industry and indicates that despite sanctions there is no problem in the trend of the country’s development and production in the oil sector.”-Mohammad Reza Farzin, Managing-Director of Iran’s National Development Fund

Also today, South Korean news media reported that South Korean oil refiners and Iranian oil companies have reached an agreement that would allow South Korea (a U.S. ally/puppet) to resume Iranian oil shipments without violating the European sanctions: “Korean oil refiners and the Iranian side have been in consultations over the matter of using Iranian flagged oil tankers to resume oil shipments.”-unnamed South Korean official

For insurance reasons South Korea will use Iranian tanker ships, which turns out to also be a loop hole in the European oil sanctions!

Also today, Iran’s Oil Ministry announced that despite the 01 July 2012 European oil sanctions, Iranian exports of refined gasoline for European customers will actually increase: “The daily production of euro4 gasoline will reach 24 million liters [6.3 million U.S. gallons] by the end of the current [Iranian] year.”-Alireza Zeiqami, Iran’s Deputy Oil Minister

But who’s the biggest buyer of refined Iranian fuels?  Why the U.S. occupied country of Afghanistan!  In 2011, Afghanistan bought $51.6 million USD worth of Iranian fuels.

On 01 July 2012, corrupt British bank Barclays revealed that a certain type of Iranian oil will escape any attempt at sanctions. It’s called “bunkers” (aka vital blending components).  Bunkers are blended fuels for ships, and the international shipping fleets will need at least $145 billion USD this year, according to Bloomberg.  But here’s the rub for U.S. and EU sanctions: “This is a problem we didn’t foresee. We don’t know how much Iranian oil is already blended in.”-Peter Sand, Baltic and International Maritime Council, which represents 65% of ship owners

Reports also show that Iran really does not need the U.S. or EU as customers, demands from Asia and Africa are growing rapidly. Currently Iran is supplying 100% of Sri Lanka’s petroleum needs, 51% of Turkey’s, 25% of South Africa’s, 11% of India’s and China’s, and 10% of Japan’s and South Korea’s demands.

Oh, by the way, did you know that at the end of June the U.S. government exempted China from the latest sanctions, for the next 180 days?

Full o’Crap western news media continue to claim U.S. led sanctions have hurt Iran’s economy.  The U.S. has imposed sanctions for decades, yet Iran has become one of the richest countries in the region, and not just because of oil!

Iran’s mining industry, excluding petroleum, is now the seventh largest in the world: “We have now achieved self-sufficiency in mining and heavy industries by over 70% in the last four years, while we were once totally dependent (on foreign countries) in these sectors.”-Hassan Polark, Iran’s Industry, Mines and Trade

“The richest gold mines in Venezuela, for instance, have been discovered by the young Iranian engineers.”-Hamid Safdel, Iran’s Industry, Mines and Trade

Iran and Iraq have increased trade to close to $10 million USD so far this year, and they plan to do more: “The volume of the trade exchanges between Iran and Iraq amounts to $9.7 billion which shows an 8% growth compared with the last year.”-Mostafa Mohammad Najjar, Iran’s Interior Minister

Also: “We are also ready to build new power plants in order to increase the capacity of power exports to Iraq. The [Karkheh-al-Emara] power line has increased the capacity of Iran’s electricity exports to Iraq to 1,200 megawatts [daily].”-Majid Namjou, Iran’s Minister of Energy

I could go on and on, like Iranian construction contractors building apartments in the South American country of Venezuela.  Belorussian tractor companies making joint production deals with Iranian tractor companies. Iranian automobile manufacturers reporting increased production, for yet another year in a row.

And to prove Iran is making money despite U.S. and EU sanctions, on 02 July 2012, Iranian officials announced they were able to buy two million metric tons of wheat: “The government has so far been able to import two million tons of wheat into the country despite financial restrictions and sanctions. Such a (large) volume of imported wheat is for supplying the country’s strategic reserves.”-unnamed Iranian official

Iran buys wheat from several sources.  Pakistan is a top source, but India is reportedly offering to beat Pakistan’s prices to win orders from Iran.  India is now the second largest producer of wheat in the world.

Iran also buys wheat from Kazakhstan.  Iranian reports say imports of Kazak wheat could increase by 5 million metric tons next year!

 

Business/Economics, International

What Economic Recovery? Japanese government collasping over tax increases! DPJ turning against their own Prime Minister!

02 July 2012, 52 members of Japan’s Diet (parliament) have resigned over the sales tax increases called for by Prime Minister Yoshihiko Noda.

The prime minister and the lawmakers who quit are part of the same political party, the Democratic Party of Japan (DPJ).  One of the lawmakers to resign is Ichiro Ozawa, who helped found the DPJ. He’s forming a new political party to challenge the government.

The members who left occupied positions in both houses of the Diet.  If the DPJ were to lose 55 members in the more powerful Lower House, then the DPJ would not be able to stop any recall of the prime minister.  The Lower House of the Diet appoints the Japanese prime minister, he is not elected by the general public.

Yoshihiko Noda is the sixth prime minister in the past six years.

Business/Economics, Idaho, International, Technology, U.S.

Global Class War: Hungary taxes potato chips last year, now adds cell phone calls! Nebraska already suffering with highest cell phone tax rate in United States!

In September 2011, Hungary joined several countries placing extra taxes on snacks like potato chips.  Full of crap western news media said it was an effort to fight obesity, but a recent Japanese report straight up said it was a way for the Hungarian government to raise more money to pay its out of control debts!

In May 2012, Hungary also passed an extra tax on cell phones calls!  It’s called the voice-traffic levy.  The Hungarian government hopes the new phone tax will create at least $133.6 million USD this year.

NHK (nippon housou kyoukai/Japan Broadcasting Corporation) reporting that Hungary was forced to create the extra tax under demands from the European Union.  But some people have switched to using smartphones which can make calls through the internet.  Hungarian officials did not tax internet based calls.

Here in the U.S. state of Idaho, groceries are already taxed.  It’s fun to watch people from out of state go into shock when they find out they have to pay tax on groceries.

Idahoans are not happy about the decades old grocery tax.  Political leaders have tried to throw us a bone by allowing a grocery credit on the end of year tax filings.  But woe to them that try to add extra taxes on snacky foods in the name of forcing us to be healthy, when in reality they just want to steal more of our increasingly limited money.

But wait, there’s more!  According to a 2011 Money article, Nebraska leads the U.S. with the highest cell phone tax rates!  Combined federal, state and local cell phone tax rates amounted to 23.69% in 2011!!!

Idaho’s state and local tax rate was 2.2% (not counting federal taxes).

“Cellphone users are overtaxed relative to consumers of other goods, and at risk of double taxation. Additionally, the wide number of taxing authorities and the wide variety in rates makes tracking problematic and burdensome.” -Joseph Henchman, Tax Foundation Director of State Projects

The reason this is class warfare is that these kinds of taxes do not affect the elitist wealthy, they target the overwhelming majority of citizens who are not rich!

Business/Economics, International, U.S.

LIBOR: Evil British Empire banks forced businesses to take on loan insurance, while they jacked up international interst rates! More proof the Too Big To Fails caused the economic crisis! More proof of Trilateral Commission operations!

29 June 2012, British news media reporting the LIBOR scandal isn’t over.  Not only was Barclays (and other British and U.S. banks) involved with manipulating international interest rates, but they also forced smaller businesses to buy loan insurance, “mis-selling” it as a way of protecting themselves from those high LIBOR interest rates!

Recently Barclays settled with the U.S. government over manipulation charges.  Barclays is the tip of the British banking empire LIBOR scandal iceberg, which dominates western economies.

Investigators say the LIBOR fixing took place from 2005 to 2009.  The scandal involved too big to fail banks in North America, Europe and Japan (the regional members of the Trilateral Commission).

 

 

Business/Economics, International, U.S.

LIBOR: More proof the Evil British Empire controls unAmerican Corporate America & the Western Capitalist World, and more proof the too big to fails are to blame!

27 June 2012, a major bank in the United Kingdom, Barclays, settled with U.S. and U.K. regulators, over charges it was manipulating key international interest rates, specifically the LIBOR.

The settlement is for $451 million USD, which is a pittance when you consider the havoc Barclays wreaked on economies throughout the western world. Barclays is the forth largest bank in the world.

Barclays is a major player in the setting of the LIBOR (London Interbank Offered Rate).  This is an interest rate charged to other banks, and is done on behalf of the British Bankers’ Association in London, England.  As of 2008 there were 60 international banks beholden to the LIBOR.

U.S. and U.K. investigations have revealed that not only are British too big to fail banks involved in manipulating interest rates, but so are U.S. banks. It’s not just interest rates, but currency valuations as well.

Besides Barclays the following banks are also being investigated for market manipulation: Citigroup Inc. (C), Royal Bank of Scotland Group Plc, UBS AG (UBSN), ICAP Plc (IAP), Lloyds Banking Group Plc (LLOY) and Deutsche Bank AG are part of at least 18 possibly criminal banks being accused.

Swiss based UBS decided to cooperate with investigators in exchange for legal immunity!

And don’t think this settlement means Barclays, or any other bank, will straighten up and do the right thing, as one law professor said: “It’s [settlements for breaking laws & regulations] become the cost of doing business.”-Jerry W. Markham, former U.S. Commodity Futures Trading Commission

Business/Economics, International, U.S.

What Economic Recovery? Cyprus joins growing list of European countries asking for a bailout!

25 June 2012, the small island country of Cyrus has asked the European Union (EU) for a bailout.  It’s the fifth country to do so, after Greece, Ireland, Spain and Portugal.

The economy of Cyprus is directly tied to Greece, and the economic disaster there has dragged down banks in Cyprus.

Fitch just downgraded the Cyprus’s sovereign credit (bonds) grade by one notch to a junk status of BB+.  Standard & Poor’s and Moody’s also rank Cyprus at junk level.

Business/Economics, International, U.S.

Global Economic War: China & Mitsubishi increase oil orders from Iran!

22 June 2012, Japan’s Mitsubishi Corporation has just renewed its yearly orders of Iranian oil.  The decision comes after the United States exempted Japan from the oil sanctions, and the Japanese government agreed to provide shipping insurance for tankers carrying Iranian oil.

It was also revealed that while Japan’s Showa Shell Sekiyu, and JX Nippon Oil & Energy, had officially cut back on oil purchases in past months, Mitsubishi was actually picking up those companies’ barrels of oil under the Mitsubishi banner.  So a slight of hand on the part of the Japanese before they got the exemption!

On 21 June 2012, it was revealed by Customs data that China has actually increased the amount of oil it gets from Iran.

China added 133,902 barrels per day to its crude shipments from Iran in May, a 34.5% increase.  A Reuters report said China was trying to offset the cuts they made earlier in the year.

Business/Economics, International

What Economic Recovery? Despite making a profit Nissan will cut production, blames inflation!

21 June 2012, Japan’s Nissan Motor is cutting production in Japan.

Starting next month Nissan will end production of four models of cars in Japan. It amounts to 15% of Nissan’s Japanese production.

The move comes after Nissan reported a profit of $4.29 billion USD for the Japanese year ending in March.  Company officials say the production cut is meant to offset surging production costs, and declining car sales in Japan.

The rising value of the yen is also making it more difficult to sell cars made in Japan to other countries.

Nissan officials say they will try to keep workers employed by assigning new jobs to them.