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Documents are largely from what is referenced by interesting films, Prison Planet/Infowars and the Corbett Report. This database is a quick reference and for your analysis, more independent from others' interpretations. The database includes almost all source documents and articles from these films: Loose Change (Final Cut & 2nd Edition), Fabled Enemies, The Obama Deception, End Game, Martial Law 9/11, American Dictators, Matrix of Evil, Zeitgeist: Addendum, Who Killed The Electric Car?, The World According To Monsanto, Mind The Gap, and 7/7 Ripple Effect.
Secret Fed Loans Gave Banks $13 Billion Banks worldwide earned an estimated $13 billion by taking advantage of below-market rates on emergency U.S. Federal Reserve loans from August 2007 through April 2010. Roll over the bars below to explore details for each. To compare results with banks' net income or losses for the same timeframes, click the corresponding button. Worldwide total is the sum for 190 firms with available data; those banks lost a combined $21.6 billion.
The Federal Reserve and the big banks fought for more than two years to keep details of the largest bailout in U.S. history a secret. Now, the rest of the world can see what it was missing.
The Fed didn’t tell anyone which banks were in trouble so deep they required a combined $1.2 trillion on Dec. 5, 2008, their single neediest day. Bankers didn’t mention that they took tens of billions of dollars in emergency loans at the same time they were assuring investors their firms were healthy. And no one calculated until now that banks reaped an estimated $13 billion of income by taking advantage of the Fed’s below-market rates, Bloomberg Markets magazine reports in its January issue. (Bloomberg)
Rupert Murdoch's Greatest Moments in Ethics and Integrity Are we still talking about this whole phone-hacking scandal at News Corp.? That's such old news.
Tapping into the voicemails of major political figures and murder victims? Everybody did it. Top executives at one of the world's largest media companies arrested? A few bad apples. A cover-up that reaches the highest levels of the British government and law enforcement? Trumped-up charges from jealous rivals. Pie throwing in Parliament? OK, that guy must be a terrorist. Good thing Wendi clocked him.
You want Congress to investigate what News Corp. might have done in the United States? Are you some kind of Marxist?
Let's get back to what really matters. Profits are up at News Corp. And, as Rupert Murdoch assured investors yesterday, "There can be no doubt about our commitment to ethics and integrity." (Huffington Post)
Why the Dollar's Reign Is Near an End For decades the dollar has served as the world's main reserve currency, but, argues Barry Eichengreen, it will soon have to share that role. Here's why--and what it will mean for international markets and companies.
The single most astonishing fact about foreign exchange is not the high volume of transactions, as incredible as that growth has been. Nor is it the volatility of currency rates, as wild as the markets are these days.
Instead, it's the extent to which the market remains dollar-centric.
Consider this: When a South Korean wine wholesaler wants to import Chilean cabernet, the Korean importer buys U.S. dollars, not pesos, with which to pay the Chilean exporter. Indeed, the dollar is virtually the exclusive vehicle for foreign-exchange transactions between Chile and Korea, despite the fact that less than 20% of the merchandise trade of both countries is with the U.S.
Chile and Korea are hardly an anomaly: Fully 85% of foreign-exchange transactions world-wide are trades of other currencies for dollars. What's more, what is true of foreign-exchange transactions is true of other international business. The Organization of Petroleum Exporting Countries sets the price of oil in dollars. The dollar is the currency of denomination of half of all international debt securities. More than 60% of the foreign reserves of central banks and governments are in dollars. (Wall Street Journal)
Libya protests: Oil prices rise as unrest continues Oil prices have risen in the UK and US after continued unrest in Libya and worries about the impact on the country's crude exports.
In London Brent crude rose by more than $2 a barrel to $108.5, before falling back to $105.78 a barrel.
In New York, US light sweet crude oil rose by $7.37 to $93.57 a barrel.
US shares also closed heavily down. Asian stocks had closed down, and European shares also fell before recovering by mid-afternoon. (BBC)
Did market manipulation cause Wall Street ‘flash crash?’ The Securities and Exchange Commission is keeping a close eye on a stock market practice that may violate rules against market manipulation, the Wall Street Journal reported yesterday. The practice, called quote stuffing, happens when stock exchanges are flooded and, at times, clogged by huge numbers of buy and sell orders orders that are ultimately cancelled.
Regulators are trying to determine if traders are using rapid-fire computerized trading systems to cause the inundation by design, purposefully gumming up the exchanges and giving traders an information advantage on small price movements in stocks.
The Journal reported that the SEC is investigating whether quote stuffing may have been one of the causes of the May 6 flash crash, when the Dow briefly plunged 1,000 points in a matter of minutes.
To get an idea of the volume of quotes produced by high-speed, computerized trading, consider this: During the day of the flash crash, there were hundreds of times that a single stock had over 1,000 quotes from one exchange in a single second, according to Nanex, a ticker of quotes and trades. (The Raw Story)
Is Europe heading for a meltdown? This financial crisis is worse than the sub-prime crash of 2008 because the sums are so much bigger and it is governments that are in dire straits. Edmund Conway explains the dangers. (London Telegraph)
Gerald Celente: Crash of 2010 inevitable The Dow Jones industrial market is down and looks to continue to head that direction. This is not good news for the worlds economies that are trying to bounce back after this recession hit many different nations. Is this a direct reflection of the Greece financial crisis? (Russia Today)
Webster G. Tarpley: Major Hasan Of Fort Hood: A Patsy In A Drill Gone Live? In the wake of the massacre at Fort Hood Texas , two principal theories have emerged to explain the conduct of the accused shooter, identified by the U.S. Army as Major Nidal Malik Hasan, an Army psychiatrist of Jordanian-Palestinian ancestry.
These views are both superficial, naïve, and inadequate. (Prison Planet)
U.S. Stocks Drop, Extending Global Slide, as Commodities Slump Analysts estimate profits at S&P 500 companies fell an average 34 percent in the second quarter and will decrease 21 percent from July through September after plunging about 60 percent in the year’s first three months (Bloomberg)
Pelosi and Illinois Representative Rahm Emanuel, the Democratic Caucus chairman, were among leaders patrolling the House floor for support. (Bloomberg)
Taking unprecedented steps, the Fed and other major central banks on Monday poured hundreds of billions of dollars of added liquidity into money markets left paralyzed by fears of further bank failures in the United States and Europe. (Wall Street Journal)
The sell off is the largest percentage drop for the S&P 500 since Oct. 26, 1987. It also translates into a $700 billion loss for the day for the S&P, according to Howard Silverblatt, senior index analyst at Standard & Poor's. (CBS, Market Watch)
cite fear of meltdown. But senators from both sides voice more questions than support.
Sen. Sherrod Brown, a liberal Democrat from Ohio, said calls from his constituents about the plan have been universally negative. He told the story of one constituent who drove to Washington.
"He quite rightly asked why we were rushing to bailout companies whose leaders got rich gambling with other people's money," Brown said.
Brown asked if Wall Street owed the rest of America an apology. Paulson, who served as CEO of Wall Street firm Goldman Sachs for seven years before becoming Treasury Secretary in 2006, pointed at both Wall Street and others for the nation's current crisis.
"There is a lot of blame to go around," Paulson said. "A lot of blame [belongs] with big financial institutions that engaged in this irresponsible lending."
But Paulson also said some blame rests with regulators, rating agencies and others
"people who made loans they shouldn't have made, people who took out loans they shouldn't have taken out." (CNN)
In its final form, the Federal Reserve Act represented a compromise among three political groups. Most Republicans (and the Wall Street bankers) favored the Aldrich Plan that came out of Jekyll Island. Progressive Democrats demanded a reserve system and currency supply owned and controlled by the Government in order to counter the "money trust" and destroy the existing concentration of credit resources in Wall Street. Conservative Democrats proposed a decentralized reserve system, owned and controlled privately but free of Wall Street domination. No group got exactly what it wanted. But the Aldrich plan more nearly represented the compromise position between the two Democrat extremes, and it was closest to the final legislation passed.
The day before the bill was passed, Murdock told Congress: "You allowed the special interests by pretended dissatisfaction with the measure to bring about a sham battle, and the sham battle was for the purpose of diverting you people from the real remedy, and they diverted you. The Wall Street bluff has worked." (Wikipedia)
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