Category Archives: Banksters & Economy

Credit: Express India

$5-bn US bonds seized from stock broker in India

The Income Tax department is bewildered by its massive haul of US Treasury bonds from a Coimbatore stock broker, estimated to be worth Rs 28,000 crore or around $5 billion….

money

Internet Technology Will Break Up Big Bank Monopoly

Peer-to-Peer Lending and Crowd-Funding Have the Power to Change Finance We don’t need giant banks. As we noted in July, small banks do much more lending than big banks: Do we…

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How Colombian drug traffickers used HSBC to launder money

It looked like a bust of another nexus of drug traffickers and money launderers, with mainly small-time operatives paying the price for their crimes. One of the men was Julio Chaparro, a…

Jamie-Dimon

Federal Judge Dismisses Silver Manipulation Lawsuit Against JP Morgan

Federal US District Court Judge Robert P. Patterson Jr. has dismissed the class-action litigation suit brought against JP Morgan (and originally HSBC) regarding silver market-rigging.  Judge Patterson cited lack of specifics and claims…

Credit: The Nation

IMF demands deeper austerity in Pakistan

The International Monetary Fund (IMF) last month warned Pakistan of a looming foreign exchange crisis. The strongly worded statement foresaw a depletion of foreign reserves as in 2008, when the…

Earth Day Network & Green Apple Festival Present Earth Day on the Mall

Historic Reordering of Power and Control

Chutes and Ladders is a very popular board game.  It has deep historical roots, and was originally developed in India.  One of the early names by which it was called…

Afghanistan Kabul Bank Scandal

Kabul Bank Bailout: The Bank Bust That Nearly Took Down Afghanistan

The lights blinked on and off in the newly remodeled basement of the Shah Bobo Jan Palace on the grounds of the Afghan Academy of Science, and then they finally…

In the forest in Gbarpolu County, northwest Liberia, a group of men work on a surface gold mine. Credit: Inter Press Service

Africa can cash in on its Mineral Wealth

Many of the fastest-growing countries in the world are in Africa, the poorest continent on the planet, but the potential for recently-discovered resources to generate broad-based inclusive development opportunities is…

derivatives

1000x Systemic Leverage: $600 Trillion In Gross Derivatives “Backed” By $600 Billion In Collateral

There is much debate whether when it comes to the total notional size of outstanding derivatives, it is the gross notional that matters (roughly $600 trillion), or the amount which…

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Bank of Japan Holdings of Japanese Government Bonds Exceeds 100 Trillion Yen for First Time

Bloomberg reports BOJ Holdings of JGBs Exceed 100 Trillion Yen for First Time  The Bank of Japan holdings of the government’s bonds exceeded 100 trillion yen ($1.2 trillion) for the first…

cyberattacks

Major banks target of more cyber attacks; regulator tells banks to alert law, customers

An alert Friday from the U.S. Office of the Comptroller of the Currency warned about a new wave of so-called distributed denial-of-service attacks on some of the nation’s major financial…

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Indian Banks are about to merge into Too-Big-To-Fail institutions

  It looks like India is going the same way as Wall Street and the American Banking system by creating gigantic banking conglomerates who will have enormous power of centralized…

goldman-sachs

Goldman Sachs lays off senior executives in China

It looks like life in China is difficult for Goldman’s. A place where they may actually have to have brains to make money as opposed to making money by cooking the books…

gold-bullion

Bank of Australia Admits 99.9% of Gold Reserves Are Held in Bank of England

  From AUSBullion‘s Blog:   As at end-June 2011 the Reserve Bank of Australia held 80 tonnes of gold in London Good Delivery bars. The Reserve Bank holds 99.9 per cent of…

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A forensic examination of dead currencies: What causes hyperinflations and why we have not seen one yet

A forensic analysis on dead currencies When I think of hyperinflation, I think of dead currencies. They are the best evidence. There is a common pattern to be found in…