This article is about criminal bankers in London. I’ll tell you right now, and very plainly: America’s bankers are every bit as evil—and worse. Also, our government protects those here, just like European governments do over there.
From Wall Street Insights & Indictments : “Justice? Not When There’s This Much Money.”
Lloyds just paid $350 million fine for its part in manipulating the Libor, the London Interbank Offered Rate, only the most important interest rate on the planet.
The Libor is so important because bankers use it to calculate the cost, value and price of trillions of dollars of loans from sea to shining sea.
That Lloyds got caught isn’t the travesty.
That’s just the cost of doing business.
The travesty is that Lloyds suspended two traders linked to the manipulation scheme. Not fired –suspended.
But it gets better.
One of the traders, who isn’t supposed to be named – psst, it’s Clive Jones – has been suspended before. That’s right. Jones rejoined Lloyds in mid-2012 as global director of money markets after being suspended for presumably manipulating Libor.
Of course, Jones said he didn’t do that. And, of course, the bank’s internal investigation team presumed he didn’t, so they let him come back to work on his next bonus.
The other derivatives trader the bank suspended, who you’re not supposed to know, is John Argent(while British, I don’t think he’s related to Rod Argent of “Hold Your Head Up” fame). And he’s probably going to get his job back, too.
These sociopaths add nothing to the real economy. They produce no products, provide no necessary services, but make part of their gains by playing complex games with numbers, and the rest by skimming fees from others—in that regard, they’re like toll booth operators on the financial highway who personally invest nothing to build or maintain the road.
They bet high and win, and they get big bonuses. They bet high and lose, and you (the taxpayer) bail them out, because they’re “too-big-to-fail,” of course. They manipulate and break the law to reap trillions, and pay a fine of a few hundred million or a billion, and keep on rolling.
All of this made possible by the Federal Reserve, and Central Banks around the world, who exist almost solely to protect the criminality and its gains, and to invest a part of their booty in buying politicians who will keep the show going.
Who owns the stock of the so-called Federal Reserve? Private banks do. And you think the Fed cares about protecting you, not the banks? Puh-leeze!
Read more at Political Outcast
This is a NATIONAL EPIDEMIC of Highway Robbery!
We have written many times about “civil forfeiture” or “asset forfeiture” (see here,here, here, etc). It involves the police taking your property. The idea is that you should lose what you have gained by crime. But the law works so that you don’t have to be convicted. If the cops grab it you have to prove that you should get it back.
According to Radley Balko in the Washington Post , “Rand Paul introduces bill to reform civil asset forfeiture.”
The law, called the Fifth Amendment Integrity Restoration (FAIR) Act, would require the government to prove its case in a court of law before it could seize assets.
The bill would also require states “to abide by state law when forfeiting seized property.” This is important. Currently, a number of state legislatures across the country have passed reform bills to rein in forfeiture abuses. The problem is that the federal government has a program known as “adoption” or “equitable sharing.” Under the program, a local police agency need only call up the Drug Enforcement Administration, Bureau of Alcohol, Tobacco, Firearms and Explosives or similar federal agency. That agency then “federalizes” the investigation, making it subject to federal law. The federal agency then initiates forfeiture proceedings under the laxer federal guidelines for forfeiture. The feds take a cut and then return the rest — as much as 80 percent — back to the local agency.
What really bothers me about this bill is that no one has done it before. Why not? We have had conservatives in Congress and even in the Senate before Ron Paul. We virtually owned the government from 2000 to 2006. Yet never before has any Republican offered such a basic law to restore civilization?
Why is that?
How can you justify Civil Asset Forfeiture?
* My cash or possessions can be taken by The State upon mere SUSPICION that they were used in a crime
* I must then PROVE my innocence to regain my property — the exact OPPOSITE of “innocent unless proven guilty.”
This isn’t a rare event. It’s commonplace. Cops depend on it to fund their budgets and buy military equipment for their departments. This isn’t “law enforcement.” It’s organized crime.
In contrast, the 5th Amendment says…
“No person shall be… deprived of… property, without due process of law.”
Eternal justice says…
“The accuser must prove the accused is guilty.”
Morality at even the toddler stage says…
“Don’t take what doesn’t belong to you.”
If you support this atrocity how can I EVER trust you to “govern” me?.
This is why I need you to support Sen. Rand Paul’s S.2644, the FAIR Act, which would…
* require CLEAR AND CONVINCING evidence that property was used in a crime
* require CLEAR AND CONVINCING evidence that the owner of the property was complicit to the use of their property in the commission of a crime
* end federal-state “partnerships” that reward asset seizures
* end the “profit motive” in federal law enforcement by having any forfeiture proceeds go to the Treasury instead of the Justice Department
MORE MASSIVE HYPOCRISY! Aid Israel in Killing of Palestinians due to “Hamas” …. Aid Qatar while they affiliate with ‘Hamas'(WHO is HAMAS?)
Apaches and Javelin defense systems are heading off to Qatar as part of our wonderful relationship with the terror-sponsoring nation that also happens to share close ties with Hamas and Al Qaeda. The weapons are valued at $11 billion.
Examiner.com reported that the Qataris will also be privy to “the main sub-components of the ECS [Engagement Control System]..The ECS is air conditioned, pressurized (to resist chemical/biological attack), and shielded against electromagnetic pulse (EMP).”
Qatarian royal family with Ismail Haniya Hamas terrorists Organization leader
That is very ironic given we aren’t even protecting ourselves from EMPs and we could do so relatively cheaply.
Qatar is the country where the five Taliban terrorists were released in exchange for deserter Bowe Bergdahl.
Congressman Brad Sherman recently called out Qatar for its funding of Hamas.
Qatar’s royal family are tied to Al Qaeda. They tipped off Khalid Sheik Mohammed when we were hunting him down.
Our ally, Saudi Arabia, has threatened to blockade Qatar over their terrorism resulting from their close ties with Egypt’s Muslim Brotherhood.
We are giving $11 billion to these friends of Hamas, who are at war with our ally Israel, while we are at the same time preparing to fire 30,000 soldiers over the next 17 months so we can bring our Army down to the size of Turkey’s. Also at the same time, Congress is pushing the Enlist Act which will encourage illegal aliens to join the military. The Pentagon is also looking to keep and seek out Muslim military.
Former Al Jazeera Head on Quitting, the Arab Spring, and Qatar’s Role
Qatar’s foreign domestic workers face abuse and exploitation, Amnesty warns
Victims of forced labour and human trafficking describe 100-hour weeks, as well as physical and sexual abuse from employers – more HERE
cant wait for all money to be electronic so the garnishing will be easier… NOT! The EPA can start with itself, and its controllers!
Accused violators of pollution laws would have little recourse
The Environmental Protection Agency has quietly floated a rule claiming authority to bypass the courts and unilaterally garnish paychecks of those accused of violating its rules, a power currently used by agencies such as the Internal Revenue Service.
The EPA has been flexing its regulatory muscle under President Obama, collecting more fines each year and hitting individuals with costly penalties for violating environmental rules, including recently slapping a $75,000 fine on Wyoming homeowner Andy Johnson for building a pond on his rural property.
“The EPA has a history of overreaching its authority. It seems like once again the EPA is trying to take power it doesn’t have away from American citizens,” Sen. John Barrasso, Wyoming Republican, said when he learned of the EPA’s wage garnishment scheme.
Others questioned why the EPA decided to strengthen its collection muscle at this time.
EPA officials did not respond to repeated questions by The Washington Times about why they thought it was necessary to garnish people’s wages.
The EPA announced the plan last week in a notice in the Federal Register, saying federal law allows it “to garnish non-Federal wages to collect delinquent non-tax debts owed the United States without first obtaining a court order.”
The agency cited authority under the Debt Collection Improvement Act of 1996 that centralized federal collection operations under the Treasury Department, which oversees garnishments of wages or tax refund checks.
Under the law, every federal agency has the authority to conduct administrative wage garnishment, provided the agency adopts approved rules for conducting hearings where debtors can challenge the amount of debt or terms of repayment schedule, a Treasury official said.
Still, the rule would give the EPA sweeping authority to dictate how and whether Americans could dispute fines and penalties, even as the amount of EPA fines collected from individuals, businesses and local governments steadily increase.
Putting the collection powers on a fast track, the agency announced it in the Federal Register as a “direct final rule” that would take effect automatically Sept. 2, unless the EPA receives adverse public comments by Aug. 1.
The EPA said it deemed the action as not a “significant regulatory action” and therefore not subject to review.
The negative reactions began almost immediately.
In a comment letter submitted to the EPA, the conservative Heritage Foundation faulted the rule for giving the government “unbridled discretion” in controlling the process for challenging fines and wage garnishment, such as dictating the site of a hearing without consideration of the time and travel expense placed on the accused debtor.
The rule allows the EPA to decide whether a debtor gets a chance to present a defense and then picks whomever it chooses to serve as a hearing officer, even someone not trained as an administrative law judge, wrote David S. Addington, group vice president for research at The Heritage Foundation.
It also puts the burden of proof on the debtor, not the EPA, he said.
The EPA has been on the front lines of the battle over Mr. Obama’s climate change agenda, including issuing proposed rules that would require coal-fired power plants to cut carbon dioxide emissions by 30 percent over 15 years.
Critics say it will cause massive increases in the cost of electricity, lead to power shortages and eliminate jobs, while making scant impact on the amount of greenhouse gasses emitted worldwide.
The agency has been a magnet for criticism over new rules on things such as wood-burning stoves and small streams or ponds on private land, including waterways on farms and golf courses.
Storm the Gates!
By Barry Donegan
Via Ben Swann
Ever since Janet Yellen took over as Chair of the Federal Reserve, life has changed for the other well-to-do residents of her Georgetown-area, Washington DC gated community. The Wall Street Journal notes that an armed encampment has formed outside of one of her neighbor’s houses in the Hillandale community, and the federal government is paying thousands per month to rent an adjacent town home, which had at one point been equipped with a massive, brightly-lit camera on the roof, peering down on disgruntled neighbors. 7,000 pound security trucks noisily plow through the neighborhood to pick her up each morning, spilling fluids on the street in violation of Hillandale’s rules.
Upset neighbors have penned a lengthy list of complaints about the uniformed, taxpayer-funded security detail. Vans full of armed police speed through Hillandale in violation of its 15 mile-per-hour speed limit, intimidating residents. Officers behave in an unprofessional manner, loudly socializing, smoking cigarettes, and scarfing down fast food. Also, the extreme visibility of the police presence offends other homeowners, who chose the neighborhood for its strict, privately-enforced rules aimed at keeping the community quiet and aesthetically pleasing. FBI Director Bob Mueller lives in the neighborhood as well, and his security detail stands in stark contrast to the one protecting Yellen. A neighbor who chose to remain anonymous out of fear of federal retaliation told The Wall Street Journal, “Bob Mueller, who you would think would have a much more dangerous job dealing with terrorists all over the world, had people who were businesslike, didn’t socialize and waited for him outside the gate. Now we have this group, overweight, wearing the most ridiculous blue uniforms with the most ridiculous blue caps, and they have guns that are visible.”
Some residents in the area are pushing for new rules to be adopted by the gated community to prevent security outfits from renting property in the neighborhood. The Hillandale Board and Covenant Committee maintains strict rules and enforces them on the other homeowners in the area in the interest of protecting property values, as homes in Hillandale sometimes sell for millions of dollars. The president of the Hillandale board, a real estate agent, has been accused of having self-interested motives and throwing neighbors under the bus by renting a town home to the Federal Reserve.
The heightened police presence doesn’t comfort everyone living in Hillandale. Said another resident, “Some neighbors say it’s great, all the security that is in the neighborhood. But these characters are only here for Janet Yellen. They’re not going to be distracted by robbers, rapists or any other thing. Besides, these guys couldn’t catch a thief if their lives depended on it.”
A number of residents are calling for the Federal Reserve, the FBI, or an independent, third-party consultant to conduct an investigation into the security detail to see if it can be done in a more cost-effective, professional, and less intrusive manner. It is worth noting that the Federal Reserve, a private bank, was given this armed police force as a part of the USA PATRIOT Act. Under Title III, Subtitle B, Section 364 of the law, the Federal Reserve was granted armed officers to protect the bank’s property and top officials.
Read More at Ben Swann
The world’s first such opportunity for patients and growers to interact and build relationships will take place over Independence Day weekend.
Discerning medical marijuana users will have a new way to get the weed they need over Independence Day weekend.
The world’s first medical marijuana farmers market is set to take place in L.A. from July 4-6, allowing patients to purchase cannabis directly from growers.
The market hopes to create a better relationship between growers and patients, giving them a new way to safely access marijuana from trustworthy suppliers.
“This is an opportunity that unfortunately is not seen as much as we would like,” California Heritage Market executive administrator Paizley Bradbury said of the chance for patients and growers to interact. “We’re hoping that the California Heritage Market can bridge this gap and provide a new and affordable experience for those who need safe access they can trust.”
The market also seeks to educate users, with the author of Modern Marijuana Living slated to be there.
The market will take place from July 4-6 from 10 a.m.-8 p.m. in East Los Angeles, at the new West Coast Collective dispensary at 1500 Esperanza Street.
Globalism ….. Work more get paid less, pay more for everything. DECENTRALIZE AND REPEAL!
U.S. workers protested job losses to foreign workers by displaying American flags in their cubicles
Computerworld - This is the story of an IT worker who was replaced by a worker on an H-1B visa, one of a number of visa holders, mostly from India, who took jobs at this U.S. company. Computerworld is not going to use the worker’s name or identify the companies involved to protect the former employee from retaliation. For purposes of this story, the worker has been given initials — A.B. (They’re not the person’s real initials.)
At A.B.’s company, about 220 IT jobs have been lost to offshore outsourcing over the last year. A.B. is telling the story because, initially, there was little knowledge among fellow employees about H-1B visa holders and how they are used. They didn’t know that offshore outsourcing firms are the largest users of H-1B visas, or exactly how this visa facilitates IT job losses in the U.S.
“I think once we learned about it, we became angrier toward the U.S. government than we were with the people that were over here from India,” A.B. said, “because the government is allowing this.”
The IT workers at this firm first learned of the offshore outsourcing threat through rumors. Later, the IT staff was called into an auditorium and heard directly from the CIO about the plan to replace them. It would take months for the transition to be completed, in part because of some new system installations.
Training the replacement workers involved holding morning-long WebEx meetings several times a week with offshore outsourcing staff based in India. The sessions were recorded as details about the environment, including diagrams and scripts, were shared.
As they moved closer to the termination date for the U.S. workers, the overseas employees would follow or shadow, via WebEx sessions, everything an IT worker did during the day. The outsourcing firm’s onshore staff helped to coordinate these efforts, but also worked to untangle the meaning of some of the questions.
The overseas workers did not appear to have much practical experience, and the same questions were asked repeatedly, A.B. said.
Before they lost their jobs, A.B.’s co-workers decided to made a subtle and symbolic protest over what was happening: As the H-1B visa workers gradually took over the offices once occupied by U.S. workers, one employee brought in a bunch of small American flags on sticks.
The flags were retrofitted so they could fit into the walls of the cubicles.
(Computerworld viewed a photograph of the cubicle flags, but decided not to publish it to protect A.B’s identity.)
The flags were displayed, cubicle after cubicle, much like way flags are hung on homes in a residential neighborhoods on the 4th of July. They were visible to anyone walking down the hall. “That was the only thing that we could do,” A.B. said. “We felt that we were making a statement. But to be honest, I don’t think the Indian workers fully understood what was going on.”
- Cantor, a reliable ‘yes’ vote for raising the H-1B visa cap, is unseated
- This IT worker had to train an H-1B replacement
- An H-1B cap hike would mean a grim future for workers
- Frustration, anger over new H-1B rule finds voice on U.S. site
- H-1B loophole may help California utility offshore IT jobs
- H-1B applications surge to 172,500, twice the cap
- U.S. hits H-1B cap with ‘high number’ of petitions
- Durbin warns Republicans standalone H-1B hike plan will fail
- Offshore firms took 50% of H-1B visas in 2013
- H-1B visas produce net IT job boost, trade group says
Record Tax Revenue of nearly 2 Trillion for 2013, Govt will still need to “borrow” another 1/2 trillion?
Federal Tax Revenues Set Record Through May; Feds Still Running $436B Deficit
(CNSNews.com) – Federal tax revenues continue to run at a record pace (in inflation-adjusted dollars) in fiscal 2014, as the federal government’s total receipts for the fiscal year closed May at an unprecedented $1,934,919,000,000, according to the Monthly Treasury Statement.
Despite record revenue, the federal government still ran a deficit of $436.382 billion in the first eight months of the fiscal year, which began on Oct. 1, 2013 and will end on Sept. 30, 2014.
In the month of May alone, the federal government ran a deficit of $129.971 billion–bringing in $199.889 billion in revenue while spending $329.860 billion.
The White House Office of Management and Budget has estimated that in the full fiscal 2014, the federal government will collect $3.001721 trillion in taxes, spend $3.650526 trillion, running a deficit of $648.805 billion.
The OMB has also estimated that, while running that deficit, the federal government will collect a record amount in inflation-adjusted tax revenues.
When adjusted for inflation (to constant 2014 dollars), the second-greatest federal tax haul through May was in fiscal 2007. By the end of May that year, the federal government took in approximately 1.908 trillion in total receipts in constant 2014 dollars.
The single largest source for the federal government’s record tax receipts in the first eight months of FY 2014 was the individual income tax, which brought the Treasury $903.024 trillion. The second largest source was what the Treasury calls “Social Insurance and Retirement Receipts,” which includes the Social Security payroll tax, the unemployment insurance tax and other retirement taxes. This accounted for $694.268 billion in tax revenue.
The third largest source of federal revenue in the first eight months of fiscal 2014 was the corporation income tax, which brought in $164.840 billion.
(Reuters) – The nomination of Federal Reserve Governor Jerome Powell to serve a fresh term at the U.S. central bank cleared a procedural hurdle in the Senate on Tuesday, paving the way for a final confirming vote later this week.
When does “Progressive” legislation become… REGRESSIVE? (Negative effect on the poor?) We have already outlined what some of the problems will be, though as a “Lively Experiment”, we are watching and “hoping” for the best.
The city of Seattle recently decided to raise the minimum wage within the city to $15 an hour. This move led to cheers from the left and consternation from the right. Fortunately, Seattle is a pretty “progressive” city so the voters there will have to lie in the bed of their own making… while we conservatives on the outside can learn from their mistake.
There is already evidence that the move to raise the minimum wage is doing exactly what conservatives (and Libertarians) predicted it would do – drive up prices. Here it is…
Northwest Watchdog called Masterpark to verify the authenticity of the receipt. Kevin, the attendant on duty Wednesday afternoon, confirmed the charge is real. To deal with the higher wage, enacted on Jan. 1, Masterpark is charging customers an additional 99 cents per parking day, a surcharge that comes on top of all other taxes and fees.
It’s not hard to understand, it simply takes some honest logical thought.
If you raise the minimum wage on businesses, that means the cost to operate rises, in some cases dramatically. If you are a business owner who is used to operating at a certain level of income, what would you be more likely to do: a) accept the new much lower level of income or b) find a way to counter the new higher cost of operating so that you can continue to make something close to what you were making before?
A profitable businessman will choose to try and remain profitable (choice b).
How will he accomplish this? He will either cut employee hours, cut employees, or raise prices… or some combination of those choices.
In a sick and twisted socialist way this move to raise the minimum wage could actually help companies like Masterpark make more money, while making low income workers poorer. How? Materpark fires workers and replaces them with machines, but keeps the price increase that the new minimum wage gives them cover to pass on to their customers. In essence making the customer pay for new higher wages that Masterpark doesn’t actually pay…
Do you see what happens when you don’t think before you act, liberals? You make things worse
Read more HERE