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«Gratuitous Democracy» or «Banking Concentration Camp»

The news I’m talking about was reported by media in May. Not a big thing at first glance, certainly not a thing to hit radar screen. But the devil is in the details. Some interesting events took place in Scandinavia. The Danish government proposed exempting certain shops from the obligation to accept cash payments in a move seen as pushing the country a step closer to a «cash-free» economy. Businesses such as clothing retailers, gas stations and restaurants will no longer be required to accept cash next year, the government of Denmark said on May 6. The move comes as part of a pre-election package of economic growth measures aimed at reducing costs and increasing productivity for businesses. Many stores in Sweden do not accept cash but only debit or credit cards. Now a buyer with full pockets of cash will leave a Swedish and Danish shop empty handed...

Valentin KATASONOV | 02.06.2015


 

America is on a Banking Delayed-action Mine

Since 2009, it has been compulsory for all major US banks to pass an exam called a stress test. The test checks the banks’ ability to withstand sudden changes in economic and financial conditions. Put simply, it assesses the banks’ ability to survive should America experience a financial crisis similar to the one in 2007-2009. In all the years of testing, the majority of US banks have received a rating of ‘satisfactory’, and even then with a stretch of the imagination. Some banks have had to retake the exam... The results of the stress testing shows that America is living on a delayed-action mine called the US banking system, and sooner or later this mine is going to explode...

Valentin KATASONOV | 23.05.2015


 

Does George Soros Control the Obama White House?

Five major banks agreed to plead guilty to criminal charges brought by the U.S. Department of Justice for manipulating the exchange rates of U.S. dollars and euros. The banks were Citicorp, J.P. Morgan Chase, Barclays, Bank of America, and the Royal Bank of Scotland... The banks will pay an estimated $5.8 billion in fines to the United States. However, only corporations were charged criminally. Not one individual banking executive was indicted in the currency manipulation scam. The reason for no personal indictments is simple. George Soros, the man who opened up his checkbook in 2008 and 2012 for Barack Obama’s presidential campaign and is estimated to have poured millions of dollars into Obama’s coffers, made his hundreds of billions of dollars primarily from the same type of international currency manipulation that landed the five banks into trouble...

Wayne MADSEN | 21.05.2015


 

Banks Rule the World, but Who Rules the Banks? (II)

...Here we can recall a study by specialists from the Zurich Institute of Technology in Switzerland, the aim of which was to reveal the controlling core of the global economic and financial system. In 2011, the Swiss specialists calculated that there were 1,128 companies and banks at the core of global finance at the beginning of the financial crisis (2007). An even denser core of 147 companies was revealed within this conglomerate. The authors of the study estimated that this smaller core controlled 40 per cent of all corporate assets in the world...

Valentin KATASONOV | 15.05.2015


 

Banks Rule the World, but Who Rules the Banks? (I)

These days, it is already a truism that the hegemony of the US is based on the Federal Reserve System’s (FRS) printing press... During the 2007-2009 global financial crisis, the FRS quietly gave out more than $16 trillion worth of credit (virtually interest free) to various banks. The owners of the money gave out the credit to themselves, that is to the main shareholder banks of the Federal Reserve... While the makeup of the Federal Reserve’s main shareholders is more or less clear, however, the same cannot be said of the shareholders of those banks who essentially own the FRS’ printing press. Who exactly are the shareholders of the Federal Reserve’s shareholders?..

Valentin KATASONOV | 14.05.2015


 

Banks and Bandits

...Leading Western banks create a wide transnational network with their branches, daughter and granddaughter subsidiaries in Central and Southern America, Western Africa, Southeast Asia and Russia. It would be fair to assume that these transnational giants are expanding in order to conquer new credit and money markets, but at the same time, a motive like laundering dirty money is almost never mentioned with regard to their activities. However, this is why countries on the periphery of global capitalism are unable to establish effective financial and banking control, since such control directly contradicts the interests of major banks and the drug mafia...

Valentin KATASONOV | 07.02.2014


 

"Bubbles" Starting to Form in the Financial Markets

The formation of bubbles which has begun on America's securities markets means that stocks circulating on the market and financial instruments linked to real assets are losing their connection to the situation in the real sector of the economy. The economy is running in place or even going down, but stock market quotes are moving in the opposite direction. This theater of the absurd is supported by the Federal Reserve and its quantitative easing program...

Valentin KATASONOV | 20.11.2013


 

Untouchable Banks: The End of the Easy Life (II)

While at first the main target of prosecution on charges of discreditable mortgage practices was Bank of America, which was traditionally one of the top five, if not the top three banks on Wall Street, in autumn 2013 JPMorgan Chase topped the black list. Among Wall Street banks it has consistently occupied first place in assets (currently 2.3 trillion dollars). JPMorgan Chase will pay the U.S. government 13 billion dollars in exchange for dropping the investigation into the bank's activities in the mortgage field. An agreement to this effect was reached by the bank's management and the U.S. Department of Justice. This is an absolute record for compensations received by the U.S. government from a private business...

Valentin KATASONOV | 07.11.2013


 

Untouchable Banks: The End of the Easy Life (I)

The largest banks of Wall Street, the London City and other financial centers of the West have always been considered «Too Big to Fail». Such big-name banks were categorized as «untouchables», «sacred cows» which were destined to exist forever. And that is not surprising; the demise of any one of the «sacred cows» of the banking world could plunge not only one country, but the entire world into the depths of crisis. After all, the «sacred cows» existed outside of the so-called market economy, with its fierce competition, high risks, bankruptcies and defaults. They lived their lives in the oases of «banking socialism»...

Valentin KATASONOV | 05.11.2013


 

The Return of the Glass-Steagall Act?

A report flashed through the media recently about Iowa Democrat Senator Tom Harkin, who has introduced to the US Senate Bill No.985 on the reinstatement of the Glass-Steagall Act. This took place on 16 May on the 80th anniversary of the original Glass-Steagall Act. Its adoption, as well as its subsequent repeal, had an enormous influence on the development of both America’s and the world’s financial and banking systems...

Valentin KATASONOV | 20.06.2013




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OUR COLUMNIST
    Vladimir NESTEROV

Europe Going Through Changes Right in Front of Our Eyes

The Greek crisis provided an impetus to the ongoing centrifugal process inside the European Union. A strong secessionist sentiment is there. National interests happen to be more important than the values of «United Europe»… Looks like Europe is in for a wave of referendums with unpredictable results. Besides Great Britain, Austria and Finland, Euroscepticism is on the rise in many other EU members as well...

01.08.2015
 
 
 
 
 
 
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