*hyperlinks and video live at source*

California Governor Jerry Brown claims California has no option but to cut public services to address a state budget deficit of ~ $16 billion:

“You name it, and we’ve got to cut it.”

He lies.

There are three immediate options to completely solve this problem:

California could be its own bank to issue interest-free credit to itself to close the budget deficit, similar to what North Dakota does as the only state with increasing budget surpluses. Governor Brown knows of this option; he vetoed the bill to document the benefits.

The U.S. oil infrastructure is the product of four decades of rising imports and falling domestic supply. As those trends have reversed over the last few years, America’s network of pipelines has failed to keep pace. Designed in part to ferry oil and refined gasoline from the coasts to the interior, those pipelines are now ill-equipped to handle the enormous amount of crude gushing from shale reserves in North Dakota and Texas. Which is why so much of that oil ends up trapped in the central Oklahoma town of Cushing, the primary crude oil storage hub for the U.S.

Cushing developed as an oil trading center and then as the official price settlement point for West Texas Intermediate, the benchmark that most types of North American crude are priced against. Cushing is now best known as a bottleneck for the energy industry: Oil rushes in, but trickles out. There are now more than 44 million barrels of oil stuck in Cushing, a record, and 60 percent more than was stored there just five months ago. Overall U.S. crude inventories now sit at a 21-year high.

In this episode, Max Keiser and co-host, Stacy Herbert, discuss the Devil's Breath of too much debt and JP Morgan's black and blue dementia. In the second half of the show Max talks to Mike Maloney about gold, silver and Hollywood accounting.

Ryan Smyth, Contributor
Activist Post

To help explain what the effects of fractional reserve banking are, and to illustrate just how evil it is, I’ve written a simple program that lets you simulate fractional reserve banking and the effects of compound interest.

The Frackin’ Reserve! program simulates what happens in fractional reserve banking, and lets you change the parameters for it. What this lets you do is simulate fractional reserve banking from a variety of perspectives, and see the results in real time.

FREEDOM: Frackin’ Reserve! is licensed under the GPLv3, so you are free to do with it whatever you wish as long as you pass on that same courtesy if you redistribute it. (Yay for freedom!) Feel free to share with whomever you like....

Published reports say Hewlett-Packard is poised to eliminate up to 30,000 jobs to help offset dwindling demand for personal computers as more people connect to the Internet on smartphones and tablets.

Europe is starting to buckle under the strain of the economic crisis as one doom scenario leads to the next. The spectre of a forced exit from the euro looms large. But do we really have cause to be so gloomy? Are there no winners in the present bleak economic landscape? Radio Netherlands Worldwide put four simple questions to three leading Dutch economists.

-1. Are you positive or negative about the future?
-2. What is the biggest problem that needs to be overcome? How will we manage to do it?
-3. Who will be the winners and who will be the losers?
-4. What is the impact of the economic crisis on you personally?

PATRICK BYRNE (pictured) is the chief executive of Overstock, a Utah-based online retailer. But he is better known—indeed, notorious in some circles—for his campaign against Wall Street over what he has long portrayed as an unholy alliance of brokers and hedge funds bent on profiting from the illegal (or “naked”) short-selling of shares, not least those of his own firm.

THE MONEY MASTERS is a historical documentary that traces the origins of the political power structure. The modern political power structure has its roots in the hidden manipulation and accumulation of gold and other forms of money. The development of fractional reserve banking practices in the 17th century brought to a cunning sophistication the secret techniques initially used by goldsmiths fraudulently to accumulate wealth. With the formation of the privately-owned Bank of England in 1694, the yoke of economic slavery to a privately-owned "central" bank was first forced upon the backs of an entire nation, not removed but only made heavier with the passing of the three centuries to our day. Nation after nation has fallen prey to this cabal of international central bankers.

Goldman Sachs struck a secret deal with Greece to help it mask its vast debts, it emerged yesterday.

The Wall Street giant is claimed to have reaped as much as £192million in fees by entering a complex currency transaction in 2001 that helped Athens borrow cash without putting it on the books as a loan.

The so-called 'swap' deal, while permitted under EU rules, helped Greece meet eurozone limits on government borrowing.

Economists warned that the Greek financial system could crumble within weeks or days unless the European Central Bank steps up support.

President Karolos Papoulias told party leaders that banks had lost €700m in withdrawals on Monday alone as citizens rush to pre-empt capital controls and a much-feared return to the Drachma.

He cited central bank warnings that "great fear" might soon escalate to panic. The leaked details lend credence to claims that capital flight by both savers and firms have reached €4bn a week since the triumph of anti-bailout parties on May 6.

I submit that the New World Order is a freemasonic effort to establish Zion in the Americas, and from that fortress, to dominate the world.

But who’s behind it?

Adrian Salbuchi says it’s a network of big banking families – many of whom are ethnically Jewish and prime bankrollers of the state of Israel. These banking families, led by the Rothschilds, strong-armed the British government to issue the Balfour Declaration of 1917 and laid the basis for the Zionist takeover of Palestine.

During his recent interview on Truth Jihad Radio, Salbuchi told me that the Zionists are getting ready to move their empire from Occupied Palestine to the Americas. Salbuchi confirmed earlier reports from Joe Vialls (see below) and others that the Falkand Islands region contains more than ten times the oil reserves of Saudi Arabia – and nearby Antarctica contains even more. He said the Zionists, with their financial clout and dominance of the big oil majors, have taken control of the Argentine oil industry. Additionally, according to Salbuchi, swarms of Israeli operatives have been scouting out the vast, unoccupied, fertile regions of Argentina in preparation for a possible Zionist invasion…I mean, emigration.

The bank runs that we are watching right now in Greece are shocking, but they are only just the beginning. Since May 6th, nearly one billion dollars has been withdrawn from Greek banks. For a small nation like Greece, that is an absolutely catastrophic number. At this point, the entire Greek banking system is in danger of collapsing.

The following is my prescription for Greece....

1 - Default on all debts.

2 - Leave the euro.

3 - Issue drachmas that are debt-free and that do not come from a central bank. Instead, have the Greek government create them and spend them directly into circulation.

4 - Enjoy a return to prosperity.

The Iranian military must be enjoying the latest spectacle of Pentagon waste and bungling.

Only a few weeks ago, the US attempted to ramp up the pressure on Iran by deploying to the Persian Gulf at the Al Dhafra Air Base in the United Arab Emirates, just across the gulf from Iran, a squadron of the Air Force’s spanking new and never battle-tested supersonic F-22 stealth fighter-bombers.

The problem is that those F-22 Raptors are duds. They may fly fast, and may even be hard to spot on radar (though that claim has been debunked by many experts), but they have a fatal defect in their life-support system. Pilots who fly them have been having their oxygen supply cut off with disturbing regularity, leading to deaths, crashes and to forced landings by pilots who realized they were getting dopey or losing consciousness.

Michael Snyder, Contributor
Activist Post

Money is being pulled out of Greek banks at an alarming rate, and if something dramatic is not done quickly Greek banks are going to start dropping like flies. As I detailed yesterday, people do not want to be stuck with euros in Greek banks when Greece leaves the euro and converts back to the drachma.

The fear is that all existing euros in Greek banks would be converted over to drachmas which would then rapidly lose value after the transition. So right now euros are being pulled out of Greek banks at a staggering pace.

So where has all of the cash for these withdrawals been coming from? ...

Homeowners should brace themselves for sharp increases in the cost of their mortgages, the Bank of England warned yesterday.

It is a bitter blow for Britain’s 11.2million mortgage holders and comes as a direct result of the chaos in the eurozone.

The crisis is driving up the cost of borrowing for high street lenders in this country – and they aim to ‘restore’ their profit margins by passing on that cost.

European politicians failed to see that the single currency's existence is in peril, trying to blame the system's failures on individual countries, Aditya Chakrabortty, lead economics writer for The Guardian newspaper, told RT.

In times of austerity, it's the bloated elephant in the room that no one seemsto want to tackle. A new survey by The Center for Public Integrity reveals Americansbelieve the Pentagon is long overdue for some budget cuts, but it seem that Congresshas something else in mind. So why aren't political leader seeing eye-to-eyewith the people of America?

Britain's Prime Minister says the Eurozone must make up or break up. David Cameron told business leaders that the beleagured single currency countries are at a crossroads which demands urgent action to avoid sparking a global depression.

*hyperlinks and video live at source*

Pulitzer-winner Mark Fiore’s two-minute animation shows what is self-evident: anything done within a system that creates and uses debt as a so-called “monetary system” can only produce increasing aggregate debt.

So-called “austerity” is a symptom of a government that surrendered its power to create debt-free money for the direct payment of public goods and services. The really great news is that this problem literally only exists on paper.

This basic test of civic economic competence will be passed when the 99% command three simple areas of facts for monetary and credit reform:

The US does not have a money supply; we have its Orwellian opposite as a debt supply. This is because the US leading banks won legal right through passage of the 1913 Federal Reserve Act to have private banks and the Fed create debt for what we use as money, and then charge the 99% for its use.

Susanne Posel, Contributor
Activist Post

Jamie Dimon has come out publicly to downplay the severity of his bank’s recent $2 billion loss.

The Central Investment Unit (CIU) utilized a different value risk calculation (VaR), which gave them greater leniency in the assessment of their trades. The purpose of the CIU was to covertly set up risky positions within the firm.

This CIU reported to Dimon directly and were given special privilege and separate risk management during their trades. The inception of this distinctive CIU goes back to 2005.

Because of the pressure and publicity of this incident, as well as the flippant demeanor of Dimon, the shareholders of JPMorgan Chase & co. have filed suit against Dimon in a New York Federal Court. They cite the $2 billion loss as the purpose of their legal action...

Shares in Spanish bank Bankia have continued their dramatic decline on concerns over the firm's finances.

The share price was down another 25% on Thursday, taking losses for May to 50%.

Spain denied a report in the El Mundo newspaper that customers had taken more than 1bn euros ($1.3bn; £800m) out of the bank, which is set to be part-nationalised, over the past week.

Mr Cameron raised eyebrows at Prime Minister's Questions on Wednesday when he warned the eurozone it "either has to make up or it is looking at a potential break-up".

Chancellor George Osborne has repeatedly warned against speculating about eurozone break-up, saying it would cause instability amid Greece's ongoing inability to form a government able to push through austerity plans.

But he told MPs earlier on Thursday that the Greek elections had "let the genie out of the bottle" and "some of the things we were happy to say in private we are now also willing to say in public because the issue is out there".

Michael Snyder, Contributor
Activist Post

Don't you wish that someone had told you the truth before you went to college? Don't you wish that someone had told you that college has become a giant money-making scam that is designed to drain as much money out of students and parents as possible?

Yes, college can be a profitable endeavor if you pick your field of study wisely, if you can get someone else to pay for at least some of it, and if you can actually get a good job in that field when you graduate. But most high school students are never told to weigh the pros and the cons before they run off to college. The typical high school student is simply told to get into the "best school" that he or she can and to take out whatever loans are "necessary" to pay for that education. Our high school students are assured that those student loans will be paid back easily once they get "good jobs" following graduation.

David Cameron has set out a three-point plan to stop Europe's financial problems spiralling out of control, amid growing fears that Greece is about to crash out of the single currency.

The Prime Minister is piling the pressure on Europe to stop the collapse of the single currency by raising money through "Eurobonds".

Speaking in Manchester, he warned the financial crisis of 2008 that led to the near-collapse of the banking system "never really went away".

A tsunami of capital flight from Greece threatens to overwhelm the authorities, forcing the country out of the euro before fresh elections in June.

Economists warned that the Greek financial system could crumble within weeks or days unless the European Central Bank steps up support.

President Karolos Papoulias told party leaders that banks had lost €700m in withdrawals on Monday alone as citizens rush to pre-empt capital controls and a much-feared return to the Drachma.

He cited central bank warnings that "great fear" might soon escalate to panic. The leaked details lend credence to claims that capital flight by both savers and firms have reached €4bn a week since the triumph of anti-bailout parties on May 6.

The Spanish Treasury had to pay around 5pc to attract buyers of three- and four-year bonds. The longer-dated bonds sold with a yield of 5.106pc, way above the 3.374pc the last time it was auctioned.

Spanish Prime Minister Mariano Rajoy said yesterday his government, struggling to reduce its budget deficit, could soon find it difficult to fund itself affordably on the bond market unless the pressure eases.

Brandon Smith, Contributor
Activist Post

After being immersed in the world of alternative economic analysis for several years, it sometimes becomes easy to forget that most people do not track forex markets, or debt to GDP ratio, or true unemployment, or hunch over IMF white-papers highlighting subsections which expose the trappings of the globalist ideology. Sometimes, you just assume the average person knows what the heck you are talking about. This is, of course, a mistake. However, it is a mistake that is borne from the inadequacy of our age and our culture, and is not necessarily a product of weak character, either of the analyst, or the casual reader.

The great frustration of being actively involved in the Liberty Movement is the fact that many people are rarely on the same page (or even the same book) during political and economic discussion...

The paper proves that Goldman Sachs does naked short selling. They will sell and short stocks they don't even have nor are able to get. In other words, just like the fractional reserve banking of creating money out of thin air with key strokes. Goldman Sachs pretended to own or had in their hands, stocks which they didn't have. They would short the stocks and do trades on non-existent stocks. They also did this to affect the stock price on the market. So they could make some stocks Fail. They even use that word in the documents accidentally released.

The ‘Subsidized’ Loan Charade: The US Government is Profiteering on Struggling Students

The Senate is currently deadlocked on taking action to prevent the interest on new Stafford guaranteed student loans from rising on July 1 from 3.4% to 6.8%, with Democrats saying they want to “pay for” keeping the current “lower” 3.4% rate by closing a loophole that allows some wealthy people to avoid paying Social Security and Medicare taxes, while Republicans want to “pay for” keeping the lower rate by eliminating a fund for preventative health care in the 2010 health care reform law.

But what is all this nonsense about “paying for” a supposedly “lower” interest rate of 3.4%?

(*I wouldn't bet against it , in 49 states other than Massachusetts http://whatreallyhappened.com/content/has-massachusetts-lost-its-polit... , at least .)

I never say this on the net, but this is amazing.

The Free Lakota Bank is the first bank in the world to offer deposits and investment opportunities exclusively in silver, and even pays interest on contract deposits in ounces of metal.

Note: The author of this letter fought at Wounded Knee in 1973.

Minutes of the central bank's April 24-25 meeting stated that "several members" thought additional Fed support could be needed if the recovery lost momentum or if the risks to the economy became great enough.

The minutes did not spell out what circumstances would trigger further Fed efforts to lower interest rates to boost the economy. But they did note some threats to the US economy. One is Europe's debt crisis. Another is the risk that spending cuts and tax increases that could take effect at year's end if Congress can't reach a budget agreement could slow growth more than expected.

Wall Street banks have secretly taken over US firearms and ammunition manufacturers and mercenary firms in a stealth build up world's largest private military force.

A Daily KOs article reveals that Wall Street banks have used private equity firms to acquire and launch a massive stealth takeover of private security firms, US ammo and gun manufacturers, uniforms, silencers and an army of mercenaries to build what amounts to the world's largest private army.

It’s just after lunchtime on a drizzly day in the Amsterdam suburb of Bos en Lommer and the line of people waiting to fill their bags with free rice, juice, potatoes and bread is lengthening.

The market is one of 135 food banks in the Netherlands bailing out people trying to survive on less than 180 euros ($234) a month, the threshold to qualify for the aid. Organizers say demand for the service rose 20 percent in the first quarter.

Chris Martenson is warning everyone to get ready because we’re about to have another 2008-Style crisis, but this time on a global level

Housing starts were surprisingly strong this week, while there was improving sentiment from home builders. So should we start to breathe a sigh of relief that the housing market is returning to health? The short answer is no. The headlines say that housing is stabilizing and there are signs of life in the real estate sector http://www.google.com/search?hl=en&gl=us&tbm=nws&q=china+economy&oq=ch... This is true but is only part of the story. Signs of life is far different than a return to healthier times.

Greeks withdraw billions of euros from banks as the country's president warns of 'panic' over Euro exit that will be 'somewhere between catastrophic and Armageddon'.

The news coming out of Europe just keeps getting dire as the run on Greek banks continues prompting the nation's banks to warn of a complete banking collapse as an exit from the EU appears to be inevitable.

At the same time, the a report on the Telegraph warns a Greek exit will be somewhere between 'somewhere between catastrophic and Armageddon' as European leaders warn of civil widespread civil unrest as a result of the fallout.

Federal Reserve Governor Elizabeth A. Duke told attendees at a break-out session of the National Association of Realtors® (NAR) Midyear Legislative Meetings that she wished she had, as the session title suggested a "Prescription for Housing Recovery."

House Republicans pressed an administration official Wednesday to take a harder line with China on opening its markets to the United States.

(*"The Time To Fix The Roof , Is While The Sun Is Out ." JFK)

A budget is a tool used to account for all the income and expenses that an individual or family has for a given period of time. Most people write their budgets monthly, but some write them weekly. It's just a matter of personal preference on which system works best for you...

The damage to the rest of Europe from Greece leaving the euro would be "somewhere between catastrophic and Armageddon", the chief negotiator for the body representing private sector holders of Greek bonds said on Wednesday.

Silver looked like it might have bottommed earlier in today’s COMEX session with a mini-spike from $27.40 through $28. It now appears that was a head-fake as silver has just been shoved back down the coal-mine, and currently has a $26 handle with a last of $26.68.

Could we be witnessing the long anticipated move by JPMorgan to extricate itself from its remaining 13,000 contract naked short silver position, and go long in time for massive global QE?

JPMorgan Chase & Co was the target of two separate lawsuits by shareholders on Wednesday, accusing the bank and its management of excessive risk that led to trading losses of at least $2 billion.

The FBI has confirmed they have launched a criminal investigation into JP Morgan Chase over their recently announced $2 billion loss in 'synthetic' securities.

James Hall, Contributor
Activist Post

Once again, the practices of the "Too Big to Fail" banksters bring the financial money machine to the brink. The J.P. Morgan derivative losses and trading gambles by their "London Whale" demonstrates business as usual in the murky world of risk distortion. Even the vexing progressive Robert Reich makes an accurate assessment for breaking up the big banks and the resurrecting of Glass-Steagall.

"Word on the Street is that J.P. Morgan’s exposure is so large that it can’t dump these bad bets without affecting the market and losing even more money. And given its mammoth size and interlinked connections with every other financial institution, anything that shakes J.P. Morgan is likely to rock the rest of the Street."

Thank you again Russia Today televising the Ron Paul Revolution the controlled media here will not cover.

The people of Iceland have overwhelmingly risen up and forced their government puppets of the banks to resign. Primary banks have been nationalized. The debt scam imposed by Great Britain and Holland money printers was declared null and void. A public assembly has been created to rewrite Iceland’s constitution.

The best part is, all of this happened without violence or bloodshed. A whole country’s revolution succeeded against powers that created the current global crisis without a shot being fired. A very good reason exists for the apparent failure of television and newspapers to provide any publicity on this unprecedented event: what would happen if the rest of the EU and the United States took this as an example?

Extremist green campaigning group WWF - endorsed by no less a body than the European Space Agency - has stated that economic growth should be abandoned, that citizens of the world's wealthy nations should prepare for poverty and that all the human race's energy should be produced as renewable electricity within 38 years from now.

Most astonishingly of all, the green hardliners demand that the enormous numbers of wind farms, tidal barriers and solar powerplants required under their plans should somehow be built while at the same time severely rationing supplies of concrete, steel, copper and glass.

Once again, the practices of the “Too Big to Fail” banksters bring the financial money machine to the brink. The J.P. Morgan derivative losses and trading gambles by their “London Whale” demonstrates business as usual in the murky world of risk distortion. Even the vexing progressive Robert Reich makes an accurate assessment for breaking up the big banks and the resurrecting of Glass-Steagall.

“Word on the Street is that J.P. Morgan’s exposure is so large that it can’t dump these bad bets without affecting the market and losing even more money. And given its mammoth size and interlinked connections with every other financial institution, anything that shakes J.P. Morgan is likely to rock the rest of the Street.”

If you derive your income from preying on the weakness of others, shame on you. The great spirit will reward you in kind. If you choose to deposit with the Free Lakota Bank, we will use your money to benefit those with a strong sense of morals and value.

By now many have seen some iteration of various GDP to sovereign debt charts but how many have seen this sovereign debt to government revenues chart?

Venezuela's National Assembly passed extraordinary new labor laws in support of workers on April 30, 2012. In a time when workers have had their rights stripped away and capitalist economies are collapsing throughout the United States and Europe, the Venezuelan government has managed to keep its economy thriving and has given the bounty to Venezuelan workers. We regard these new laws to be the most progressive labor legislation in the world today. We thank Axis of Logic Columnist, Arturo Rosales for his report and analysis.

France’s unemployment rate has risen to 10 percent, with millions of French citizens looking for work as Europe’s economic crisis shows no sign of letting up.

Michael Snyder, Contributor
Activist Post

The bank runs that we are watching right now in Greece are shocking, but they are only just the beginning. Since May 6th, nearly one billion dollars has been withdrawn from Greek banks. For a small nation like Greece, that is an absolutely catastrophic number. At this point, the entire Greek banking system is in danger of collapsing.

As reported by Zero–Hedge[1], Greece has now gone fully into panic mode.

The report filed by Tyler Durden on May 15th at 11:36 am references a Bloomberg notice that the Greece situation doesn’t look good, in fact Bloomberg speculates that it may be on the verge of final collapse.

The message that Bloomberg sent reads;

“Anxious Greeks have withdrawn as much as 700 million euros ($893 million) from the nation’s banks since the inconclusive May 6 election, President Karolos Papoulias told party leaders yesterday, according to a transcript of the meeting posted on the presidency’s website today. Papoulias said he got the information from the head of the Bank of Greece, the central bank, George Provopoulos, according to the transcript.”

The number of homeless people living on the streets of New York City increased by 23 percent in one year according to an annual survey conducted by the city’s Department of Homeless Services.

On January 30, volunteers for the organization counted an estimated 3,262 people living on the streets— a 23 percent increase from the 2,648 counted in 2011. The 2,925 volunteers walked approximately 15,000 miles while surveying the city. The largest numbers of homeless people living on the streets were found in Manhattan and Brooklyn. About half of the total number of people accounted for in the survey were living inside the city’s subway system.

The cloud cover of sophistry that has been characteristic of India's Iran policy in recent years lifted on Tuesday when the government admitted in parliament that it had taken a policy decision to reduce oil imports from Iran.

Most of the money Greece used to pay in full a 436-million-euro foreign law bond on Tuesday went to a vulture fund, the New York Times has reported.

“Almost 90 percent was delivered to the coffers of Dart Management, a secretive investment fund based in the Cayman Islands, according to people with direct knowledge of the transaction,” the newspaper said.

“Dart is one of the best known of the so-called vulture funds, which have a track record of buying the distressed bonds of nearly bankrupt countries — and if they do not get paid, suing the governments for the money.”

Joe Wright
Activist Post

The world's prison capital is not the United States, per capita, although it leads the world for its overall prison population. One state far outdoes America itself and incarcerates nearly double the national average.

"First among Americans means first in the world. Louisiana's incarceration rate is nearly triple Iran's, seven times China's and 10 times Germany's."

The U.S. prison business has become the essence of predatory corporatism: it privatizes profits and socializes losses. This combination has led to a situation where correctional facilities have very little incentive to correct the behavior of those who reside within their walls, but every incentive to ensure that new bodies arrive as fast as possible, and keep them in a state of indentured servitude.

The bank runs that we are watching right now in Greece are shocking, but they are only just the beginning. Since May 6th, nearly one billion dollars has been withdrawn from Greek banks. For a small nation like Greece, that is an absolutely catastrophic number. At this point, the entire Greek banking system is in danger of collapsing.Meanwhile, banks in other troubled European nations are already on shaky ground. The Spanish banking system is an absolute disaster zone at this point and on Monday night Moody's downgraded the credit ratings of 26 Italian banks.

The situation in Italy is especially worth keeping a close eye on. As Ambrose Evans-Pritchard recently noted, things are not looking good for Italy at all....

*No-one jailed for the crisis
*Jamie Dimon
*Facebook ditches US citizenship

To put it in perspective, consider this: Last year, the Fed earned more than America's top five largest banks -- JPMorgan Chase, Bank of America, Citigroup, Wells Fargo and Goldman Sachs -- combined.

It's also more than twice what Apple earned.

Most of the profit came from interest paid on the securities the Fed acquired in the financial crisis and subsequent recovery.

12 year old spells out the fraud the banks are committing against the people.
Victoria Grant explains why her homeland, Canada, and most of the world, is in debt. April 27, 2012 at the Public Banking in America Conference

The bank runs that we are watching right now in Greece are shocking, but they are only just the beginning. Since May 6th, nearly one billion dollars has been withdrawn from Greek banks. For a small nation like Greece, that is an absolutely catastrophic number. At this point, the entire Greek banking system is in danger of collapsing. If you had money in a Greek bank, why wouldn't you pull it out? If Greece leaves the euro, all euros in Greek banks will likely be converted to drachmas, and the value of those drachmas will almost certainly decline dramatically. In fact, it has been estimated that Greek citizens could see the value of their bank accounts decline by up to 50 percent if Greece leaves the euro.

Jamie Dimon, Chairman of JPMorgan Chase is hoping that the American public will be sympathetic toward the recent $2 billion in losses that the financial firm has incurred because of their investments in derivatives.

Dimon suggests that: Hey, everybody makes mistakes — sure, we lost $2 billion, but we’ve still got billions more, and we’ll figure out this one ourselves without the need for any further regulations, thank you.

***He is correct. The banking industry is based on fraud. If it wasn't, they wouldn't need to own so many politicians. - Unknown Author***

Twelve-year-old Victoria Grant of Cambridge, Ontario, has become an overnight Internet sensation after a video of her giving a scathing criticism of Canada’s banking industry went viral.

Grant has been giving a rehearsed speech to audiences at conferences about how “the banks and the government have colluded to financially enslave the people of Canada.”

This video is going viral! The word is getting out! Banks create money when they make loans and enslave us with debt and compounding interest.

As leaders in Athens accepted the need for a new general election to end a national stalemate, the International Monetary Fund said Europe’s leaders should prepare for the possibility of a Greek departure from the single currency.

Christine Lagarde, head of the IMF, warned she was “technically prepared for anything” and said the utmost effort must be made to ensure any Greek exit was orderly. The effect was likely to be “quite messy” with risks to growth, trade and financial markets. “It is something that would be extremely expensive and would pose great risks but it is part of options that we must technically consider,” she said.

France’s unemployment rate has risen to 10 percent, with millions of French citizens looking for work as Europe’s economic crisis shows no sign of letting up.

Brandon Turbeville
Activist Post

If you needed one more example of how DNA will soon cease to exist as a private piece of information, you need look no further than the latest product launch by Applied DNA Sciences.

On May 10, the company announced that it is releasing a new QR (Quick Read) Code secured by nothing other than DNA. Without a doubt, this new product launch is yet another step toward the ultimate collection, databasing, and use of DNA by governments and corporations on a universal basis...

The right-wing has been lauding Facebook co-founder Edward Saverin for his decision to renounce his U.S. citizenship in order to avoid taxes. But he isn’t the only one who’s going to slash his tax bill in the wake of Facebook’s upcoming initial public offering: both CEO Mark Zuckerberg and the company itself will lower their tax bill for years to come.

While Zuckerberg will pay a hefty tax bill right off the bat if he follows through on his plan to sell $5 billion in Facebook stock options, as the New York Times noted, he may then never pay a dime of taxes on the rest of his Facebook wealth. “Instead, he can simply use his stock as collateral to borrow against his tremendous wealth and avoid all tax,” the Times reported.

It seems there is a conflict/disagreement happening between the Central Bank of Germany (Bundesbank) and members of the Parliament and members of Germany's Federal Audit office (the Bundesrechnungshof) about Germany's gold.

It seems Germany's gold has not been fully accounted for in at least five years.

Now, members of the Parliament are standing up saying "They want the people's gold, back in the country." They also are out right saying "They don't think it is there any more either." It seems they think the Federal Reserve and London may have sold their gold.

The Central Bank of Germany is saying "We are not to question another Central Bank of the World. If the Federal Reserve says the gold is there, then it is"

Some time in the very near future (Late Spring/Early Summer?) we will have the long predicted mother of all banking crashes. It will be like nothing seen before in the history of mankind. A true “Creative Destruction” event and the blame will be placed squarely on the banking cabal and the fiat monetary system. This event will have ramifications on the election process like no event has in our past. Ron Paul predicted it! Ron Paul has told you why! And Ron Paul has your solution America! Overnight Ron Paul will become the most important person in the world and a “Shoe In” for President.”

So that’s where I think the Good Guys strategy stands…we’re primed for THE MOTHER OF ALL FINANCIAL CRASHES!

Most informed people are familiar with the concept of Peak Oil, but fewer are aware that we're also entering the era of Peak Government.

In a typical small coastal city (112,000 residents) in California, senior police officers receive annual pensions in excess of $100,000. Generous benefits (healthcare coverage, etc.) for life add another $20,000 or so a year, so the annual payout is roughly $120,000 a year per retiree.

Less senior city employees receive pensions and medical benefits around half that amount, or $60,000 a year.

Raising the spectre of a Greek exit, the German chancellor said “solidarity for the euro” was threatened by the ongoing political crisis in Athens.

Stock markets around the world fell sharply with fears mounting that a euro break-up could lead to renewed financial turmoil. The FTSE-100 index of Britain’s major companies fell by two per cent to 5465, with bank shares hit particularly hard.

The cost of Spanish government borrowing also hit a record high since the single currency was introduced because of concerns that the crisis will spread.

Let's see FBI is opening an investigation into JPM loss of 2 billion. BUT they let MF Global get away scot free with STEALING almost 2 billion from their customers and gave it to JPM.

Please explain this rationale to me, especially since the CFTC has sat on their Asses and know all the B.S. bets that JPM does already and all the manipulation of the markets.

I seriously don't understand this, because of MF Global being allowed to steal and they have said not one charge will be made against Corzine etc.

Am I going too far down the hole with these thoughts, Also - the media was and still is SILENT about MF Global and most people still don't even know about it - but they are ALL OVER JPM.

The talks turned on implementation of a very tough EU-IMF debt bail-out accord.

Greek socialist leader Evangelos Venizelos said: "We are going again towards elections, in a few days, under very bad conditions," he said, while a statement from the president's office noted simply that efforts to form a government had failed.

Minutes ago Bloomberg sent out a notice that things in Greece may be on the verge of the final collapse. From Bloomberg: "Anxious Greeks have withdrawn as much as 700 million euros ($893 million) from the nation’s banks since the inconclusive May 6 election, President Karolos Papoulias told party leaders yesterday, according to a transcript of the meeting posted on the presidency’s website today. Papoulias said he got the information from the head of the Bank of Greece, the central bank, George Provopoulos, according to the transcript."

This is another guest post by Jesse Scott of US Mortgage Auditors.

He did this very short information article so people understand where a defense works and where it does not. Many attorneys are asking for the "Wet Signature Note" and the banksters attorneys are loving it. They win on that fraudclosure argument.

He is trying to get the information out for attorneys to use Article 9 and Article 3 of the mortgage contract against a Fraudclosure.