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- USAF Learjet, Pocatello Airport, Idaho.
VEHICLE I-D: USAF C-21 LEARJET, YEAR OF THE LEAR
Tag Archives: economy
LIBOR: EU to make rate fixing a crime. Rate fixing scandal an excuse to create One World Bank! New CIBOR scandal!
26 July 2012, the European Union’s European Commission is asking its members to pass a new law making currency and interest rate manipulation a crime.
The scandal involves mainly U.S. and British Too Big to Fail banks and the British based LIBOR, Belgium based EURIBOR and Japan based TIBOR systems. Recently it was revealed that such systems are also being used to help elites hide $20 trillion USD worth of wealth from tax collectors.
In Denmark, the Danish government is wrapping up their investigation into their own CIBOR system. Officials running the Copenhagen Interbank Offered Rate are suspected of setting rates unjustifiably higher than the EURIBOR.
The Wall Street Journal recently said the scandal “…could lead to a new system of calculating a benchmark…”
Too Big to Fail Morgan Stanley is asking British officials to put the Bank of England in direct control of LIBOR.
Also, U.S. Treasury Secretary Timothy Geithner, stated he will be reviewing the proposed introduction of a new global rate system that will replace current LIBOR like systems.
The rate fixing scandal involves banks in North America, Europe and Japan (the regional members of the Trilateral Commission).
What Economic Recovery? Hoku Corporation voluntarily de-lists, chapter 11 coming soon, “Liquidate Hoku Materials”
“How much longer can Hoku Corp keep the tsunami of debt, liabilities, liens, foreclosures and material breaches of contract at bay? What’s the delay in filing for bankruptcy protection? I believe that it may be driven by their energetic attempts to sell their solar subsidiary before the much tighter restrictions on selling assets that would come under bankruptcy.”-Marco Mangelsdorf, ProVision Solar
Hoku Corporation, parent company of failed Hoku Materials in Pocatello, Idaho, voluntarily de-listed itself from NASDAQ, and will probably file chapter 11 bankruptcy.
On 29 June it was reported that Hoku Corp had enough cash for only nine weeks of operation!
“If Hoku is unable to secure additional financing, it believes it will need to seek protection in bankruptcy from its creditors and to liquidate and wind-down Hoku and Hoku Materials. “-Hoku SEC statement, 25 June 2012
Officials also said they were unable to complete required financial reports and would miss the filing deadline for the end of the fiscal year.
At the beginning of July 2012, Hoku Corp announced it would voluntarily de-list from NASDAQ. This after NASDAQ stopped trading of Hoku stocks, after share price fell to below $1.00 back in December 2011. Hoku said their de-listing would take place on 10 July.
Now, Hoku has been trading as a penny stock, and as of 17 July was worth only 4 cents per share!
What Economic Recovery? Idaho’s Coldwater Creek struggles to keep head above water. Takes on more debts. One loan from company known for Mitt Romney style take overs!
“The proceeds of the Term Loan Agreement will be used for debt repayment, to finance the acquisition of working capital assets, and for other general corporate purposes. On July 9, 2012, the Company used $14.8 million of the proceeds to repay its term loan with Wells Fargo Bank.”-Coldwater Creek statement
The struggling Sandpoint, Idaho based womens clothing retailer, Coldwater Creek, has been busy trying to save itself, through huge loans and stock tricks.
On 09 July 2012, Coldwater Creek took a $65 million USD loan from Golden Gate Capital. Stockholders seemed happy that Coldwater Creek took on more debt, because the company stock went up, slightly, it’s still trading at less than one dollar.
Stocks trading at less than one dollar per share is in violation of NASDAQ rules, which means Coldwater Creek could be de-listed just like Hoku.
On 21 July, Coldwater Creek announced it was considering a stock split, in order to get it’s value above the magic one dollar mark. NASDAQ has given Coldwater Creek until 11 December to bring up the value of its stock.
On 19 July stock prices were at a weak 68 cents per share. Officials with the Idaho clothing retailer hope that 1-3 split would raise the stock to $2.00 per share. A 1-6 split could get it to $4.00. A meeting was supposedly held on 25 July to consider the split. But this is just tricks.
Notice in the above quote that Coldwater Creek says it paid down $14.8 million in debt to Wells Fargo. What they didn’t say is that they’ve negotiated another $70 million revolving credit deal with the same bank!
Back to Golden Gate Capital. This finance company took over Eddie Bauer in 2009, and is part of a larger group that took over Collective Brands (which owns PayLess and StrideRite shoes).
Golden Gate Capital now holds 19.9% of Coldwater Creek stock, and put two of its own people on the board of directors of Coldwater Creek.
Back on 30 June, an analyst with The Motley Fool, gave three reasons to dump Coldwater Creek stock: Stiff competition, no profits since 2007 and tens of millions in debt!
What Economic Recovery? Sales up, yet profits down for Nissan. Sales & profits down for Ford!
26 July 2012, Japan’s Nissan Motor has reported an increase in sales for the April to June quarter, but decreased profits.
Nissan officials said sales were up in China and North America, but, because of the rising value of the Japanese yen, and increasingly stiff competition, the overall profits fell 19.7%. Their profit was still a hefty $1.5 billion USD (oh those greedy stockholders)!
Nissan said the only way they can keep profits up is to send more of their Japanese production to other countries, and use parts made in countries where the money is worth less than the yen. Of course, this means more job losses in Japan!
U.S. based Ford also reported down profits, by 57%! Ford, a much bigger company than Nissan, made about the same profit as their Japanese competitor, but Ford’s profit loss is tied directly to decreased sales worldwide.
Officials with Ford said they lost money big time in Europe, where the iconic car company saw a 15% drop in sales, losing more than $400 million USD. They also lost sales in Asia, and profits were down in South America.
Ford expects that by the end of the year they will lose more than $1 billion USD because of the European crisis!
What Economic Recovery? Britain in worst double dip recession ever, blame the Queen!
“It is clear that Britain is in the midst of the most prolonged period of stagnation it has faced in decades.”-John Longworth, British Chambers of Commerce
25 July 2012, Office for National Statistics announced another drop in GDP, for the third month in a row, officially putting the United Kingdom back into a recession.
U.K. economic performance data started being recorded in 1955, and the current situation is worse than anything on official record!
Officials with the Office for National Statistics are still adding up the costs of celebrating the queen’s Diamond Jubilee, but are already calling it a “significant hit” to the British economy. Any public event involving the Royals is paid for by the government/taxpayers.
Some analysts say the Diamond Jubilee celebration actually stopped any economic recovery in Britain.
“They [government leaders] need to change course as their policies are causing permanent damage to our economy.”-Brendan Barber, Trades Union Congress
One Year Later: Prosecutors to launch criminal investigations into Fukushima Daiichi nuclear disaster!
25 July 2012, after a final government initiated, independent investigation report was filed, NHK (nippon housou kyoukai/Japan Broadcasting Corporation) is reporting that Japanese prosecutors will now accept and investigate criminal complaints regarding the ongoing Fukushima Daiichi nuclear disaster.
The final report basically said that it is not clear that the nuclear disaster was caused by the natural disasters on 11 March 2011, in fact, in an earlier report the investigators said it was a “man made” disaster.
The final report also blamed the ongoing disaster on gross negligence, both by corporations and the government! This is why Japanese prosecutors are now accepting criminal complaint cases. Of course corporate officials, and government officials, deny such gross negligence.
Government Evil: U.S. Consumers who use Cash make F-B-I list of Terrorists! Working for cash in the U.K. is a crime?
“These kinds of schemes are where we are focusing our efforts, and they are all, to borrow a phrase from the chancellor, ‘morally repugnant’. These schemes damage our ability to fund public services and provide support to those who need it. They harm businesses by distorting competition. They damage public confidence. And they undermine the actions of the vast majority of taxpayers, who pay more in tax as a consequence of others enjoying a free ride.”–David Gauke, ass hole British exchequer secretary to the Treasury, referring to people who get paid in cash!
At the beginning of this year the U.S. Federal Bureau of Investigation (FBI) released Community Against Terrorism (CAT) warning signs, which include people who “Use cash for large transactions”! But did you know that in the United Kingdom you can go to prison for being paid with cash!
Of course people who don’t report their cash earnings when they file their tax paperwork can end up spending time in prison, but, why are governments so focused on the small fry individual, who might owe hundreds to thousands in taxes, when a tiny minority of elites have gotten away with a combined total of USD $20-trillion in unreported income/revenues?!
Just last week, the U.K. government sent a plumbing company owner to prison for not paying USD $77-thousand in taxes. Here’s the thing, British government officials claim they’re owed about USD $54-billion in unpaid taxes every year, but according to the latest study by the British government established Tax Justice Network, the big tax evaders are not the individuals getting paid in cash, but they are the teeny tiny minority of elites that sucked off USD $20-trillion from the western economies in the past few years!
Why don’t the elected and appointed officials get some balls and go after those elitist economic terrorists?! At least those individuals who are being paid in cash are spending the money, keeping the Circular Money Flow of the economy going! The elites are money vampires sucking it out of the Circular Money Flow system, crashing the economy!
By the way I’m amazed how many people in the United States still can’t believe that the FBI (under orders from Homeland Security) considers the use of cash an act of terrorism, but just go to this link and read the FBI CAT lists for yourself.
Long ago cash became king, and barter became the enemy. Anyone entering a city to do business had to first do business with money changers, to acquire the authorized cash for that specific city state. Now credit is king, and cash is the enemy. If you want to continue doing business in the new world order then you have to give up the cash ghost: “…and that no one may be able to buy, or to sell, except he who is having the mark, or the name of the beast, or the number of his name.”–Revelation 13:17, Young’s Literal Translation
Evil Elites: $20 trillion stolen away and hoarded by Global Elites, that’s why the economy sucks! Money hoarding causes poverty, destroys economies, is a threat to National Security!!! Too Big to Fails & LIBOR involved!
“These estimates reveal a staggering failure: inequality is much, much worse than official statistics show, but politicians are still relying on trickle down to transfer wealth to poorer people. People on the street have no illusions about how unfair the situation has become.”-John Christensen, Tax Justice Network
According to a recent report by the Tax Justice Network (established by the British Houses of Parliament in 2003), the reason for the lack of money in the failing western economies, is that the elites are hording it, to the tune of $12.5 trillion to $20 trillion USD (that’s according to data from the world’s top 50 banks)!!!
Wealth is finite, there is not enough for everyone, money does not grow on trees! But, the only way an economy works well is if that money/wealth is in circulation, being spent to buy services and products. That’s why some incompetent economists and analysts have been lambasting the working class consumers for not spending more money.
Most working class consumers are broke, they operate on credit/debt if they still have it, and more and more the governments of the United States and United Kingdom are criminalizing the use of cash (which most people don’t have much of anyway).
Most U.S. corporations are broke, they’ve been operating on debt. They even pay their employees with payroll loans from the Too Big to Fail banks! Governments are broke, cutting services and raising tax rates in the hopes they can squeeze more out of the working class! So where is the money?
Between 2005 and 2010, the elites managed to hide away, in plain sight using the help of the Too Big to Fails, trillions in untaxed revenues using offshore accounts, and other tricks, by the top 50 international banks.
Notice this is during the same time period of the Credit Crisis/Crunch, and first recessions of the U.S. and Europe! This is evidence that the credit crisis is really caused by elites siphoning as much as $20 trillion out of the Circular Money Flow, with the effect of literally hitting the brakes on the western economies!
This should be considered a National Security Threat! The elites are economic terrorists!
The Tax Justice Network explains how the elites get away with their cash hording. This latest report suggests that the true percentage of world elites is only 0.001%!!!
Here’s a list of the top 10 banks involved, see if you recognize any: UBS, Credit Suisse, HSBC, Deutche Bank, BNP Paribas, JP MorganChase, Morgan Stanely/SSB, Wells Fargo, Goldman Sachs and Pitchet.
Note that these banks are also being investigated for the international currency/interest rate fixing scandal involving LIBOR, TIBOR and EURIBOR!
It’s time the people of the western economies stand up and demand their crony capitalist lap dog politicians, and their crony capitalists leaders to “Show us the money!!!”
Evil Elites: Check the facts, fithly rich are NOT the ones creating new jobs!
Right wing pro-unAmerican Corporate America supporters are spouting off that the evil elites are the ones we should thank for job creation.
Fact: According to the Congressional Research Service’s report titled Small Business and the Expiration of the 2001 Tax Rate Reductions: Economic Issues, cutting taxes would have little affect on job creation. Here’s why; business owners already deduct their employees’ wages off their company’s tax filings!
Fact: According to the Congressional Research Service, there is no evidence that tax breaks results in increased investment into businesses!
Fact: Traditionally, in a bad economy the main reason for reduced employment is that business revenues are down, due to reduced spending by consumers. Reduced revenue means less taxes businesses have to pay anyway (why do you think local governments are going bust?)! Tax breaks to rich business owners do not solve that problem!
Fact: Recently the Center on Budget and Policy Priorities issued a report which showed that tax breaks to rich business owners has a net effect of…nothing! In the extreme short term jobs might be created, or working hours lengthened, but in the longer run the rich business owners cut back so much they cancel out any employment increases made in the short run!!!
Fact: Studies show that the businesses creating the most new jobs are new small businesses. But the overwhelming majority of filthy rich are not involved in new small businesses, so why give the elites more tax breaks? According to the U.S. Treasury (Department of the Treasury, Office of Tax Analysis Methodology to Identify Small Businesses and their Owners, Technical Paper 4, August 2011), only 7.6% of elites get their income from small business operations, and only 5.6% of those actually have employees!!!