The Economy

CME Clearing Europe Vacates Registration as Derivatives Clearing Organization Prior to Greek CDS Payouts

Why does one suppose the CME might ask to be vacated from CFTC registration only 6 days prior to March 19th when the Greek debt auction is held?

So it appears that the CME is scared of the possibility of an imminent $50 trillion credit default swap seize up/ conflagration once the Greek CDS payouts begin after the March 19th Greek debt auction. There is simply no other explanation for the CME to voluntarily request to vacate its registration as a derivatives clearing organization!

Goldman Loses $2.2B After Scathing Op-ed

oldman Sachs Group Inc. saw $2.15 billion of its market value wiped out after an employee assailed Chief Executive Officer Lloyd C. Blankfein’s management and the firm’s treatment of clients, sparking debate across Wall Street.

GOOD!

Greece on the breadline: HIV and malaria make a comeback

The incidence of HIV/Aids among intravenous drug users in central Athens soared by 1,250% in the first 10 months of 2011 compared with the same period the previous year, according to the head of Médecins sans Frontières Greece, while malaria is becoming endemic in the south for the first time since the rule of the colonels.

Reveka Papadopoulos said that following savage cuts to the national health service budget, including heavy job losses and a 40% reduction in funding for hospitals, Greek social services were “under very severe strain, if not in a state of breakdown. What we are seeing are very clear indicators of a system that cannot cope.”

Goldman Sachs Launches Counterattack on Greg Smith

Goldman has been quick to push back on Smith’s claims, portraying him as just a disgruntled employee. Some employees told Fox Business’ Charlie Gasparino that Smith doesn’t know what he’s talking about because he “never made more than $750,000 a year.”

“… And he dresses funny. Like he shops at @#%ing Old Navy. And, and, and … he wears a friggin’ Casio, for goodness sake. The Goldman Sachs dress code clearly states Rolex, Omega, or Patek only so this clown obviously was never a team player!” — Gold in My Sacks

(ahem)

OK, here is some back atcha, you money-junkies.

Greece Scammed By Goldman While Trying To Meet EU Financial Terms

Goldman Sachs told U.S. (when push comes to shove) they WILL BE Paid for Debt BEFORE Social Security and Medicare Recipients! Forget citizens PAY BANKS!

Prosecute Goldman Sachs

Goldman Sachs’ Blankfein on Banking: ‘Doing God’s Work’

Dinosaur “Old World” System Seeks to Tax Alternative Media

Dinosaur old world traditional media companies push to keep their monopoly on information by moving to tax social media and alternative news sites.

Another 2% And Apple Worth More Than Entire US Retail Sector

Apple now stands less than $14bn or approximately 2% away from being worth more the entire US retail sector after a 1% move to $558 today.

Fracking Democracy: Why Pennsylvania’s Act 13 May Be the Nation’s Worst Corporate Giveaway

The PUC will use state authority to help the industry achieve its aims.

The law also prevents heath professionals from discussing medical impacts. On page 99, it requires oil and gas companies to tell medical professionals what chemicals are used in drilling fluids—but only after they sign “a statement of need and a confidentiality agreement.” However those details—the chemicals in drilling fluid and medical significance—it states a page later, are secret and “shall not be a public record.”

“I know exactly why that is in there,” said Shields. “That makes it extremely difficult to bring a civil suit if the information is locked away behind confidentiality agreements.

The people who will suffer the most from this process will be the rural poor, about whom those in the bowels of power in Harrisburg dismiss as “useless eaters”, and many times have little or no access to health services which will be necessary to fight the cancers and other problems which will come from the fracking being done in their neighborhood.

And ironically, if the same poisonous chemicals found in the water where fracking was done were deliberately placed in the water in the neighborhoods of those who own these fracking operations, that would be considered an act of terror!

Americans Will Need “Black Markets” To Survive

As Americans, we live in two worlds; the world of mainstream fantasy, and the world of day-to-day reality right outside our front doors. One disappears the moment we shut off our television. The other, does not…

When dealing with the economy, it is the foundation blocks that remain when the proverbial house of cards flutters away in the wind, and these basic roots are what we should be most concerned about. While much of what we see in terms of economic news is awash in a sticky gray cloud of disinformation and uneducated opinion, there are still certain constants that we can always rely on to give us a sense of our general financial environment…

Another Wall Street whistleblower

Hello, I am a current JPMorgan Chase employee. This is an open letter to all commissioners and regulators. I am emailing you today b/c I know of insider information that will be damning at best for JPMorgan Chase. I have decided to play the role of whistleblower b/c I no longer have faith and belief that what we are doing for society is bringing value to people. I am now under the opinion that we are actually putting hard working Americans unaware of what lays ahead at extreme market risk. This risk is unnecessary and will lead to wide-scale market collapse if not handled properly. With the release of Mr. Smith’s open letter to Goldman, I too would like to set the record straight for JPM as well.

“Oh yeah, well my superiors over here at the First National Bank of Screwdapoor smell like radioactive week-old vampire feces soaking in turpentine, so there!” — yet another disillusioned Wall Street Gecko-phile.

Bill Still (of money masters) Banks still control the media.

Bill Still is still right.

Was Greg Smith’s criticism of Goldman Sachs fair?

Both the Government and the Market are Irrational

Paul Craig Roberts
Activist Post

One of the great economic myths is that markets are rational. Not a day passes without this myth being disproved scores of times, but the myth persists.

For example, today (March 14) Bank of America/Merrill Lynch reported that “yesterday US markets started the day off with a strong rally after the solid retail sales report. . . . tailwinds are helping boost global equity markets today.”

John Howard could well end up on this list, and so he should. Howard was either complicit in the lies which led to the invasion of Iraq or he was duped. Whichever way it is he has a case to answer.

War Criminals Bush and Cheney Can No Longer Travel Outside the U.S.

Bush and Cheney are no longer safe traveling outside the US due to international pressure from human rights groups to have them arrested for war crimes

Broken Promises: Pensions All Over America Are Being Savagely Cut Or Are Vanishing Completely

How would you feel if you worked for a state or local government for 20 or 30 years only to have your pension slashed dramatically or taken away entirely?

EU Encouraging Greece ‘To Head Towards Revolution’

‘All the European Union is doing down this line is it’s encouraging the cradle of civilization to head towards revolution, because that’s what will happen if we continue with these austerity measures’

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