Busted: Bankers and The Global Economy

August 7, 2010

Dollar Deflation & the Grave Economy

Dark economic clouds are gathering over the United States as a second stage of national distraction arrives. Now that the BP disaster is over with, a new topic of angst is needed. Right on cue, the Federal Reserve and Ben Bernanke are considering the economic pains of their patient while looking after their own corporate bottom line and the continued enrichment of international bankers.

Bernanke warned in a speech eight years ago that “sustained deflation can be highly destructive to a modern economy” by leading  to a slow death from a rising real burden of debt. “Sufficient injections of money will ultimately always reverse a deflation,” claimed Bernanke.

New banking assessment by big commercial banking interests (Barclays, RBS, et al.) outside the U.S. show that the dollar is in a corner. Wedged tighter in that corner is the United States, which is now wholly dependent on the banking debt that continues to strip the nation. Uncle Ben and his international banking buddies are facing deflationary pressures as economic pressures fueled by rampant unemployment. Their perfect answer will be to start up the printing presses and to flood the international market with still more dollars, which I must admit will only fuel the fire of deflation.

One answer is to create another crisis with competing currencies. The Euro is a perfect candidate for more distraction, while international bankers continue to drain European and Asians nations of their wealth wherever possible. The Wall Street expansion into Europe and Asia has created still more opportunities to distract from dollar reality. Believe it or not, there are still more precious resources to drain. Multinational corporations are now in the cross hairs.

President Obama doesn’t really enter the equation. Perhaps he will once again arise to take “full responsibility” as he did in the BP debacle. No matter. The Washington lawmakers that create brilliant policy don’t matter, except to approve the imaginary creation of still more greenbacks, ringing their hands in political pretense as they hold out their hands for kickbacks and such. All of these cronies are mere cosmetic agents as international bankers continue the next phase of their rape and pillage policy. Bernanke is preparing to start with massive quantitative easing.

The warfare manual for international bankers says to print more dollars. They haven’t hit their 5 trillion dollar target yet. That is their goal. To completely denude the resources and capital of nations so that they can create their own nation that officially rules over all nations. They have the nations and banking community. They now seek the sustenance of the corporate oligarchy. Wall Street is simply a vehicle to bring this about. They seek ultimate power while pretending to be obsequious and eager to please. The idea is to bring the current system to its knees. Even though we have been conned by phoney money, they hold almost all of the real resources of value. We think the debt is real and have traded all manner of resources and labor for it.

Meanwhile, economic contraction is in the wings for the United States. The leading indicator per the Economic Cycle Research Institute is falling faster than since World War II. CPB Netherlands shows real issues with world trade. There is plenty more behind the scenes that shows a truly grave problem for thinking inside the box. Prepare for the unthinkable.

October 22, 2008

Credit Rating Agencies Get Black Eye

Filed under: banking, economy, government, investment, money — Tags: , , , , , , , — digitaleconomy @ 8:55 pm
deceit, mismanagement and untrustworthy actions

deceit, mismanagement and untrustworthy actions

Credit Rating Agencies have taken a substantial black eye in Congressional hearings from their lack of sufficient oversight, inaction and public deceit. Fitch Ratings CEO Stephen Joynt described to Congress “the art of ratings,” firmly declaring ratings as nothing more than opinions. He also blithely declared the belief of industry that government assistance would be forthcoming in the event of a judgment failure due to mismanagement. That is pretty telling information, revealing the tip of the iceberg where the attitude of both Wall Street and ratings agencies are concerned. Audio summaries are below for your enjoyment.

Audio Summary Points:
Crisis Summary by Stephen Joynt, CEO of Fitch Ratings
Hearings: Mismanagement
Hearings: Trust

June 26, 2008

More Jobless Bankers Set to Hit Job Market

Citigroup Inc., one of the larger international bank holding companies, will cut 10 percent or about 6,500 of the jobs in its investment banking division here in the States. Citigroup has trimmed more than 350,000 employees around the globe. By the end of March at least 9,000 positions had been cut based on information from the Wall Street Journal.

The Journal voiced that entire trading desks in New York and other cities are expected to be cut and especially hard-hit will be mergers and acquisitions bankers.

Meanwhile, certain investment firms like Stifel Nicolaus and Thomas Weisel are hiring to take advantage of the fire sale of available labor.

Meanwhile, the banking community continues to seek investors in an effort to stop the bleeding from bad securities. State government is piling on as well. California’s attorney general has filed a civil lawsuit against Countrywide Financial claiming the mortgage lender used misleading advertising and other unfair business practices to trick borrowers into taking on risky home loans they didn’t fully understand. Greed and bad business eventually consume the perpetrators. Banking is being forced to look at itself in the mirror.

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