Posted by greydogg, 99GetSmart
* GLOBAL LOOTING: HOW THE FAT CATS WILL RUIN US WITH FAT TAX
Source: The Slog
The debt-management stage of banks and globalist superpowers is over. The tax collection is now under way. In a frightening but entirely credible piece, The Slog plots the likely course of wealth transfer as the prelude to a victory for the dictatorial élite. As always, if they succeed we will only have our own cynical complacency to blame.
Jean-Claude Junker was yesterday abruptly told by the ECB to either reveal all details of Luxembourg’s money-hoarding…or face the consequences. The heist that was a one-off is looking increasingly like a template. Mario Draghi warned menacingly of “the precarious situation of countries whose banking sector is worth several times their GDP”. Some 40% of the offshore banking sector is controlled by British banks. Three days ago, George Osborne signed a tripartite EU agreement to ‘clamp down on tax evasion’. One day soon they’ll invent a tax involving our savings….and then simply grab the money because, by definition, it was evading the tax.
It’s getting increasingly easy to see where all this is going. But if you’re still convinced by the berks who keep calling this stuff ‘lunatic fringe conspiracy theory’, I suggest you look instead at yesterday’s Ambrose Evans-Pritchard column. In a straight-talking piece, AEP revealed that the working documents for the Eurogroup meeting today contain a bombshell ‘tucked away in clause 29. “Sale of excess gold reserves: The Cypriot authorities have committed to sell the excess amount of gold reserves owned by the Republic. This is estimated to generate one-off revenues to the state of €400m via an extraordinary payout of central bank profits.”‘
So, your gold’s not safe either. Maybe that’s why Gordon the Mad sold all ours: he saw this coming. Maybe he invented the idea. You never knew with Brown.
It’s taking some people a long time to work this out, but the moment has finally come for those who scoff or snooze throughout this process to wise up: the Troika isn’t an agent of debt reduction any more. It might have started out with that intention, but today – right here and now in 2013 – it is purely designed to take money from the bailed and give it to the banks and Treasuries of the West. The final, undeniable sign came when the Cyprus rescue became a bail-in: “we’re here to help you, by helping ourselves to everything you’ve got”. […]
* BAIL-IN AND THE CONFISCATION OF BANK DEPOSITS: THE BIRTH OF THE NEW FINANCIAL ORDER
By James Corbett and Prof. Michel Chossudovsky
The recent bail-in in Cyprus has given the world a glimpse at the future of the banking landscape. Now, as Canada gets set to hardwire the bail-in process into law, analysts like Michel Chossudovsky are warning how the big banks can use this template to further consolidate their monopoly of economic control. This is the GRTV Backgrounder on Global Research TV.
Those who follow the markets closely know that, at base, the current financial system is founded not on the bedrock of sound economic principles but instead upon the quicksand of public perception. All it takes is one large bump in the road to upset even the largest of economic bandwagons and usher in a new financial paradigm.
In the ongoing meltdown of the European Union, perhaps the greatest single bump in the road so far just took place in Cyprus. In the immediate aftermath of the dramatic bank holiday and bail-in events of last month, many in the financial media began asking whether Cyprus represents a template for future bail-ins across the European Union or elsewhere around the globe.
If we are going to seriously ask this question, however, it is vital that we understand exactly what happened, and what kind of template this might represent. […]
* THE TERRIFYING REALITY OF LONG-TERM UNEMPLOYMENT
By Matthew O’Brien, The Atlantic
It’s an awful catch-22: employers won’t hire you if you’ve been out of work for more than six months
Close your eyes and picture the scariest thing you can think of. Maybe it’s a giant spider or a giant Stay Puft marshmallow man or something that’s not even giant at all. Well, whatever it is, I guarantee it’s not nearly as scary as the real scariest thing in the world. That’s long-term unemployment.
There are two labor markets nowadays. There’s the market for people who have been out of work for less than six months, and the market for people who have been out of work longer. The former is working pretty normally, and the latter is horribly dysfunctional. That was the conclusion of recent research I highlighted a few months ago by Rand Ghayad, a visiting scholar at the Boston Fed and a PhD candidate in economics at Northeastern University, and William Dickens, a professor of economics at Northeastern University, that looked at Beveridge curves for different ages, industries, and education levels to see who the recovery is leaving behind.
Okay, so what is a Beveridge curve? Well, it just shows the relationship between job openings and unemployment. There should be a pretty stable relationship between the two, assuming the labor market isn’t broken. The more openings there are, the less unemployment there should be. If that isn’t true, if the Beveridge curve “shifts up” as more openings don’t translate into less unemployment, then it might be a sign of “structural” unemployment. That is, the unemployed just might not have the right skills. Now, what Ghayad and Dickens found is that the Beveridge curves look normal across all ages, industries, and education levels, as long as you haven’t been out of work for more than six months. But the curves shift up for everybody if you’ve been unemployed longer than six months. In other words, it doesn’t matter whether you’re young or old, a blue-collar or white-collar worker, or a high school or college grad; all that matters is how long you’ve been out of work. […]
* GREECE FIGHT OVER ELDORADO GOLD MINE PUTS RECOVERY TO TEST
By Jonathan Stearns, Bloomberg
A mountain of gold has divided Aristotle’s birthplace in northern Greece.
Cyprus’ bailout deal is the fifth agreed on so far in the 17-strong group of European Union countries that use the euro since the debt crisis began in late 2009.
Violent opposition to Eldorado Gold Corp.’s US$500-million project to develop the site prompted Mayor Christos Pachtas to flee the county’s seaside capital for his home village in the highlands. In some communities, locals shun each other because of the planned mine. Torched heavy equipment on the mountaintop area cordoned with barbed wire testifies to the dispute.
For Greece’s devastated economy, the fight is more than a conventional standoff between the forces of development and environmental protection. Authorities’ ability to navigate the conflicting demands in the nation’s biggest-ever metals project provides a telling clue to how soon Greece emerges from six years of recession, a pair of bailouts and the biggest sovereign debt restructuring ever. […]
* WAR ON WHISTLEBLOWERS: FREE PRESS AND THE NATIONAL SECURITY STATE