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Economic Update – Rising Costs of Capitalism’s Failures – 04.30.17

Updates on courts blocking Trumps attack on sanctuary cities, selling Whole Foods, Jack Ma and blaming technology for jobs collapse, falling department store jobs since 2000, British queen’s enterprise award to UK worker coop, Suma. Major discussions: Trump’s corporate tax “reform,” crisis as millions of new entrants into global job markets find too few jobs, SSDI crudely targeted by Trump …

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Brian Chappatta – The $100 Trillion Bond Market’s Got Bigger Concerns Than Brexit

In some ways, it really didn’t matter to Steven Major whether the U.K. voted to stay or to leave. Sure, as a Brit, Major followed the U.K.’s surprising decision to break with the European Union. And, of course, the 51-year-old Londoner voted (though he politely declined to say whether he was in the “Remain” or “Leave” camp). But when it comes …

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It’s a Small World at the Top: Which Corporations Control the World?

A surprisingly small number of corporations control massive global market shares. How many of the brands below do you use? It’s a Small World at the Top: Banking Largest banks hold a total of $25.1 trillion:[1] 1.) ICBC, China, $2.95 trillion in assets, over 18,000 outlets, 108 branches globally 2.) HSBC holdings, UK, $2.68 trillion in assets, 6,600 offices in …

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5 Major Banks Rigged US $9trn Bond Market: Lawsuit

The Bank of America, Credit Agricole SA, Credit Suisse Group AG, Deutsche Bank AG, and Nomura Holdings were named as defendants. Five major banks and four traders were sued on Wednesday in a private U.S. lawsuit claiming they conspired to rig prices worldwide in a more than US$9 trillion market for bonds issued by government-linked organizations and agencies. Bank of America Corp , Credit …

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Isle de Jean Charles Band of Biloxi-Chitimacha Indians become the first official Climate Refugees

The Biloxi-Chitimacha-Choctaw just received $48 million to move off of their disappearing south Louisiana island. U.S. Department of Housing and Urban Development (HUD) announced in January that it had awarded the tribe $48 million to pay for a move, most likely farther north and inland, making them the first community of official climate refugees in the continental (lower 48) United States. The tribe wants to move as …

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Andy Rowell – Half of U.S. Fracking Industry Could Go Bankrupt as Oil Prices Continue to Fall

So the slide continues with no end in sight. As expected this morning, the oil price has fallen below $28 a barrel on the back of the historic news over the weekend of sanctions being lifted on Iran. This is the lowest level for oil since 2003.   The markets are spooked that the lifting of sanctions means the imminent …

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Paul Craig Roberts – The Proof Is In: The US Government Is The Most Complete Criminal Organization In Human History

Unique among the countries on earth, the US government insists that its laws and dictates take precedence over the sovereignty of nations. Washington asserts the power of US courts over foreign nationals and claims extra-territorial jurisdiction of US courts over foreign activities of which Washington or American interest groups disapprove. Perhaps the worst results of Washington’s disregard for the sovereignty …

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Andrew Gavin Marshall – Bank Crimes Pay: Under the Thumb of the Global Financial Mafiocracy

On Nov. 13, the United Kingdom’s Serious Fraud Office (SFO) announced it was charging 10 individual bankers, working for two separate banks, Deutsche Bank and Barclays, with fraud over their rigging of the Euribor rates. The latest announcement shines the spotlight once again on the scandals and criminal behavior that have come to define the world of global banking. To date, only …

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Forex scandal: White collar criminals must face jail not fines, say UK experts

Financial penalties expected to hit British banks for Forex rigging will do little to tackle financial crime in the City of London as regulators continue to prioritize high finance over ordinary citizens, experts warn. British banks could be fined billions in coming months as investors pursue them for rigging foreign exchange (Forex) rates, following a landmark US settlement on Friday. …

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Bilderberg 2015: where criminals mingle with ministers – Charlie Skelton

I had three Austrian policemen in my hotel room last night. They stood there all grim faced with their fluorescent bibs, torches and sidearms. It was like the worst ever fancy dress party. I offered them a pilsner. They declined. They were too busy checking my ID that had been carefully checked 10 minutes prior at a police checkpoint. And …