Bolivia Becomes First South American Country To Ban Rothschild Banks


YourNewsWire

Bolivia has become the latest country to kick the Rothschild banks out of their country, with President Evo Morales announcing that Bolivia will no longer respond to pressure or financial blackmail from the US government or Rothschild-controlled international banking institutions.

The International Monetary Fund (IMF) and US-dominated World Bank have been major players in the global economic landscape ever since their creation in 1944. These international banking organizations, which are privately controlled by the notorious Rothschild banking family, first pressure nations to deregulate their financial sector, allowing private banks to loot their economies.

Once the governments are forced to bail-out their deregulated financial sector, the IMF or World Bank sets up a loan package written in secret by central bankers and finance ministers that undermine their national sovereignty and force them to adopt policies of austerity that harm workers, families, and the environment.

Bolivia have become the first South American country to grow wise to the ruse. They have worked hard to gain financial independence and are now in the process of kicking the Rothschild controlled banks out of their country.

True Activist reports:

Before Evo Morales assumed the office of president, Bolivia was suffering from the effects of IMF/World Bank-imposed austerity and privatization that exploited its people and resources. It was also South America’s poorest nation. Though the Bolivian people, through strong showings of popular resistance over a period of years, were able to stop some of the worst privatization efforts – particularly the privatization of the nation’s water supply, many of the shackles imposed by these Rothschild-controlled institutions remained.

Rothschild banks Bolivia

Morales, who became Bolivia’s 80th president in 2006, was the first president to come from Bolivia’s majority indigenous Aymara population and has since focused on poverty reduction and combating the influence of the United States and multinational corporations in Bolivia. Ten years later, Morales, a Democratic socialist, has managed to transform Bolivia into the fastest growing South American economy all while maintaining a balanced budget and slashing its once-crippling government debt.

Bolivia’s newfound economic independence has now empowered Morales to reject the very same institutions that once preyed upon his country. Just a few weeks ago, Morales announced that Bolivia will no longer respond to the demands or blackmail of the United States, the World Bank, or the IMF.

During a visit to Tarija in Southern Bolivia, Morales said “Before, in order to obtain credit from the IMF, we were forced to give up a part of our country, but we have liberated ourselves economically and politically and we are no longer dependent on other countries or institutions.” Morales praised social movements and the people’s unity for the country’s ability to resist and reject privatization and foreign influence.

However, Bolivia has done much more under Morales’ leadership than ban international banking cartels from operating within it borders. Bolivia has kicked out numerous multi-corporations since Morales took office, including McDonalds and Coca Cola, while also refusing to cooperate with the US’ disastrous War on Drugs.

It is also devotes 14% of its national budget to education, the second most of any country in South America. In contrast, only 1.7% of the national budget goes to education in the US. Morales also forced foreign oil and gas companies to pay an astounding 82% of its profits to the Bolivian government, which is used to fund a variety of popular social programs benefiting the poor. Poverty in Bolivia has dropped significantly as a result. Bolivia’s transformation under Morales proves that any nation, no matter how impoverished, can throw off the shackles imposed by international bankers and return the power to the people.

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IMF Concedes Central Banks Are Doomed


Armstrong Economics

World-Economy-Sinking

The International Monetary Fund (IMF) has warned at the G20 summit in Hangzhou, China, that in the face of crises, the refusal to reform how things are functioning will lead to economic weakness in the global economy. “The latest data show subdued activity, less growth in trade and a very low inflation, suggesting an even weaker global economic growth this year,” the IMF told G20 leaders.

Indeed, we are looking at 2016 coming in as the fifth consecutive year in which global growth will be below the average of 3.7% which prevailed between 1990 and 2007. The IMF said: “Without strong political countermeasures the world could suffer a disappointing growth” for several years to come. Christine Lagarde told world leaders: “Even in the longer term the outlook remains disappointing.”

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A number of people are asking if we are advising the IMF both in front of the curtain or behind. I have meet with former IMF board members as well as people pulling triggers in some central banks. But we have no arrangement to advise the IMF. If their forecasts are starting to reflect ours, it is curious, I admit. They may be looking at things using our lenses. But I have never met Lagarde and I do not advise the IMF. True, they may be looking at the Economic Confidence Model. Many countries do. There is no formal arrangement whatsoever.

As demands rise concerning social inequalities in many countries, this tends historically to only lead toward more regulation and protectionism. In the end, this is the expected knee-jerk reaction from politicians and in the end it only created a negative downward spiral to the detriment of free trade. The hunt for taxes and the sharing of all information to beginning among G20 members January 1st, 2017, will also lead to less investment. The EU decision to retroactively change the tax code of Ireland and the Apple deal, is a death-blow to the global economy.

Structural reforms are vital at this point to prevent a real economic depression on a global scale. In countries with still weak demand, the IMF is advocating monetary and fiscal policy should intervene more to promote growth. But bureaucrats are far too disconnected from the economy to ever manage things correctly. They historically attempt to force their will upon the markets and that has always resulted in disaster.

DJ1935-D-WPA

In regions where the monetary policy has been exhausted with negative interest rates having only a negative impact economically, only changes to the fiscal policy are even remotely possible to soften the hard landing we are headed into. The formula of simply creating temporary jobs with additional public investment building roads and bridges, are never sustainable and have never reversed the economic decline. On April 8th, 1935, Congress voted to approve the Works Progress Administration (WPA), a central part of President Franklin D. Roosevelt’s “New Deal.” The US share market rebound, but this was due to the dollar devaluation in 1934 following the bank holiday in 1933. The WPA kept hiring people reaching its peak in 1938 of over 3 million. The primary restriction was one person per family. Despite the claims, the WPA was a failure for there was no evidence whatsoever that it ended the Great Depression. It did provide relief and helped families make the transition from agriculture to skilled labor. So from the standpoint of retraining people, it did provide a foundation to build upon. However, such programs that fail to help people make such a transition within the work force are worthless in reversing an economic downtrend. In fact, if taxation is raised as a result, then it merely robs the right pocket to put some one in the left. That never provides economic growth no less stimulus.

The economic warning signs of a major slowdown in growth are appearing now on a global perspective from China and Japan to North American and Europe. The sharp decline in trade was reflected in the world’s seventh largest container shipping company Hanjin which declared bankruptcy in South Korea. Hanjin is the first prominent victim of the downturn in international maritime trade. There is little doubt that this is the canary in the coal mine providing a clear visible sign of a new economic Depression is looming on the horizon.

Sunset-1R-600x338

The sun is settling. It may appear to be rather beautiful. It is always the prettiest before nightfall.

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What Is Free Banking, and Why Should I Care?


Libertarianism.org

 

featuring Lawrence H. White

Prof. Lawrence H. White explains that in the absence of a central bank, private banks would be able to circulate money by issuing notes and checks redeemable for coin. Trustworthy banks would make arrangements to accept each other’s notes and checks. Banks would have better incentives than the federal government to ensure their currency retained its value, because if it didn’t, people would bank elsewhere. By contrast, central banks controlled by the government are able to devalue currency as they see fit and can even quit redeeming notes for coins of real value if they want to do so. It sounds like social-science fiction, but there are numerous real-world examples in history of successful free-banking systems. In fact, central banks arose largely because governments wanted an institution willing and able to lend them money with easy terms, not because of any problem with the free-banking system. Free markets offer the most efficient system for allocating goods and services, and money is no exception. As failures among central banking systems mount, it is time to reconsider the alternative of free banking.

[Watch more: Should We End the Federal Reserve? featuring Lawrence H. White]
Learn More
http://www.fee.org/the_freeman/detail… [article]: An argument as to why we should move to a free bankingsystem.

http://economics.about.com/cs/moffatt… [article]: Michael Crook explains a concise history of Scottish free banking followed by an analysis of its framework

http://www.federalreserve.gov/boarddo… [article]: The Former Federal Reserve Chairman offers a brief history of the banking history of the United States

http://www.fee.org/the_freeman/detail… [article]: Bettina Bien Greaves offers a guide to a better understanding of free banking and how it would function

http://www.econtalk.org/archives/2008… [podcast]: Professor George Selgin of West Virginia University talks with Russ Roberts about the idea and history of free banking

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#HSBC Documents Reveal Criminal Conspiracy of Banks and Governments


GlobalResearch

HSBC was one of the institutions whose greed and lawlessness plunged the world into a crisis in 2008 from which it has never recovered, cost millions of people their jobs and launched a wave of austerity all over the world involving the slashing of workers wages’ and social benefits.


 

By Andre Damon

On Sunday, international news outlets the Guardian and Le Monde, working with the International Consortium of Investigative Journalists (ICIJ), published articles based on their analysis of leaked files showing that the Swiss private banking arm of HSBC, Europe’s largest bank, functioned for years as a tax evasion and money laundering firm.

The company ran a branch that gave out “bricks” of hundreds of thousands of dollars in cash in foreign denominations and provided its wealthy clientele with advice on how to commit tax fraud, according to the reports.

These facts have for years been been in the possession of international financial regulators and governments throughout the world—including those of Britain, France and the United States—which systematically covered them up. Neither the bank, nor its executives, nor any of the clients that utilized its tax dodging services have been criminally prosecuted.

No one should believe that HSBC is an aberration; there is no doubt that similar practices are carried out by all major international financial institutions. The HSBC files have unearthed a cesspool of corruption, criminality, bribery and collusion that pervades the entire capitalist system and the governments that defend it.

The HSBC revelations are only the latest in a series of scandals involving virtually every major financial institution. These have included the selling of fraudulent subprime mortgage-backed securities, illegal foreclosures, commodities fraud and the manipulation of LIBOR and international foreign exchange benchmarks.

HSBC was one of the institutions whose greed and lawlessness plunged the world into a crisis in 2008 from which it has never recovered, cost millions of people their jobs and launched a wave of austerity all over the world involving the slashing of workers wages’ and social benefits.

The list of people who used HSBC’s services include corporate executives, fundraisers and major donors to American, British and Australian political parties, and politicians from at least 17 countries, including Britain.

The trail of dirty money reaches as high as former US President Bill Clinton. British business tycoon Richard Caring, who once picked up more than five million Swiss francs in cash from the bank, donated $1 million to Clinton’s foundation from his Swiss bank account.

The report by the ICIJ notes that the month before Caring made his donation, he “funded a champagne and caviar extravaganza at Catherine the Great’s Winter Palace in St. Petersburg, Russia, flying in 450 guests to be entertained by Sir Elton John and Tina Turner and addressed by Bill Clinton.”

It also notes that Charles Barrington Goode, a major fundraiser for the Liberal Party and chairman of ANZ bank, one of Australia’s largest financial institutions, held an account with the bank under a false name for three decades.

In addition to “legitimate” businessmen and high-ranking politicians, HSBC’s services were used by drug kingpins, weapons smugglers and traffickers in illegal “blood diamonds.” Reviewing the reports, it is impossible to determine where the criminal underworld ends and the ruling class of bankers and corporate CEOs and their millionaire political front-men begins.

While no bank executives or wealthy clients have been prosecuted, the one person out of this morass of criminality who faces serious legal consequences is the whistleblower who exposed them.

In 2009, an HSBC technical employee named Hervé Falciani came to realize that HSBC’s private bank was operating a huge tax evasion operation, and began collecting information to provide to Swiss authorities, which showed no interest.

He subsequently turned files pointing to tax fraud by some 130,000 people over to the French police, who shared them with other governments, including that of Britain and America. Falciani has since been charged with violating Switzerland’s bank secrecy laws and carrying out industrial espionage.

In 2010, then-French Minister of Finance Christine Lagarde provided a list of 2,000 suspected tax evaders to the Greek government, and the list subsequently came into the possession of Greek magazine publishers, who printed it. They were subsequently charged, then found not guilty, of breaching privacy laws.

A portion of the files accumulated by Falciani were recently obtained by Le Monde and shared with the ICIJ and other newspapers. The files cover some 30,000 accounts holding nearly $120 billion in assets.

In the UK, more than 3,000 people have been investigated based on Falciani’s files, but the government has brought no charges against any of them.

Perhaps the biggest cover-up has been carried out in the United States, where in 2012 the Justice Department agreed to a $1.2 billion “deferred prosecution” settlement with HSBC on charges of money laundering for Mexican drug cartels, never mentioning the fact that the US government had evidence the bank helped its clients evade taxes.

One of the leading architects of the settlement with HSBC, Loretta Lynch, at that time the US attorney for the Eastern District of New York, is now the Obama administration’s nominee to replace Eric Holder as attorney general. The Reverend Lord Stephen Green, HSBC’s chief executive during the period covered by the files, was subsequently appointed the UK’s minister of state for trade and investment.

The British Labour Party, which was in power at the time that thousands of members of the British ruling class used HSBC to dodge their taxes, declared, “What is truly shocking is that [UK officials] were made fully aware of these practices back in 2010 but since then very little has been done.”

The revelations are particularly striking in the baseness of the criminality they depict. After all, these people already make millions of dollars by paying workers poverty wages, slashing the pensions of the elderly and privatizing public assets. Do they really need to cheat on their taxes too? Is it really necessary, as the documents detail, for them to smuggle “bricks” of cash in some cases amounting to millions of dollars?

For the global financial elite, the line between “legitimate” business activity and political donations on the one hand, and fraud, theft and bribery on the other, does not exist. Capitalist society is run by thieves and criminals, who see the law as a minor inconvenience. In the immortal words of Leona Helmsley, “Only the little people pay taxes.”

We would ask those who still believe the social order exposed by these documents can be somehow reformed: Where would you start? Would you appeal to the politicians, who are all bought with political donations from financial criminals? Or to regulatory agencies, which have systematically covered up these crimes? Or the courts, which bring charges against whistleblowers while shielding financial criminals?

The entire structure of contemporary society, from major corporations to governments to regulators, is controlled by multi-billionaire financial oligarchs.

The only way to bring to justice the major banks like HSBC, and the millionaires and billionaires who used its services to commit fraud, is a complete reorganization of society. The ill-gotten wealth that corrupts every public institution must be seized, major corporations must be nationalized, and every existing state replaced with a workers’ government whose first task will be the establishment of democratic control over the basic forces of economic life.

*The original source of this article is World Socialist Web Site
Copyright © Andre Damon, World Socialist Web Site, 2015

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One Bank to Rule Them All: The Bank for International Settlements (#BIS)


“The Banksters Did It”: The Central Banks Have Engineered This Financial Collapse


Global Research

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moneyGood news, everybody! The markets are rebounding! Yes, we just a hit a minor bump in the road there, but don’t worry, everything is back to normal now. Let’s forget about the tail end of last week and this week’s Black Monday, shall we? Pay no mind to the uncomfortable low lights of the global stock rout:

Nope, nothing to see here. And now that this dead cat bounce is underway, surely there will be no more commodity deflation or global economic slowdown or worldwide currency war orhistorically unprecedented bond bubbles to worry about, right?

dead cat bounceOK, enough sarcasm. Readers of this column will know by now that the phony baloney stock markets, manipulated as they are from top to bottom and juiced as they are on the Fed’s QE heroin, are no longer reflective of economic reality. The only question is how far this particular dead cat market will bounce, and whether it will be helped along with more heroin from the Fed.

But there is already one vitally important take away from these events that the independent media must articulate now, before it’s too late. Namely: This crisis was engineered by the central banks. It is their fault.

Let me repeat that again in case you missed it: This crisis was engineered by the central banks.

This point is not even controversial. It has been the universal consensus of institutions ranging from the Bank for International Settlements to the Official Monetary and Financial Institutions Forum, and from OECD officials toformer Fed Governors and even Alan “Bubbles” Greenspan himself.

In fact, analyst after analyst and pundit after pundit–including the most mainstream of mainstream publications–have been sounding the alarm on the stock market bubble for much of the past year.

This tells us two things: the current market mayhem was perfectly predictable (and predicted), and the central banks not only stayed the course but actually doubled down with more and more QE injections.

It is the central banks that have created this mess, and what’s more they have created this mess in the full knowledge that their actions would lead to disaster. And now, one can be sure, the same central bankers and their political puppet mouthpieces will use this crisis to continue the construction of the “New World Order” that they called for in the wake of the 2008 collapse.

Anyone who can’t see the endgame now–global government by the bankers, of the bankers and for the bankers–is either blind or wilfully ignorant.

It is especially important to state these obvious truths now, because we can already see a false narrative underway. This narrative has two main thrusts: one is to paint China as the culprit for the global downturn and the other is to assume that only central banks can save the day (with even greater liquidity injections and even deeper rate cuts).

The China-as-economic-villain narrative ranges from the subdued (“China’s ‘Black Monday’ sends markets reeling across the globe“) to the blatant (“Chinese Economy Causes Markets to Fall“) to the silly (“Don Yuan Causes Heartbreak“), but they all convey the same message: China has brought this on the world all by itself. It’s not that China is reacting to a global monetary environment created by the Fed and fostered by other central banks, or a global economic slowdown that is biting into a heavily export-driven economy, or the conflicting pressures on the country as it tries to navigate its way toward global reserve currency status. Nope, it’s just a bull in a china shop (or is that a China in a bull market?) knocking things over and causing mayhem (Trump was right!).

Time MagazineThe only-central-banks-can-save-us narrative is even more infantile, but also more dangerous. We are told that the crash came because China’s central bank failed to act. We are told that it’s now up to Turkey’s central bank to bolster the flagging lira. We are told that the Lehman collapse occurred because of too little central bank intervention. We are told that only the European Central Bank is capable of “riding to the rescue” and preventing a market rout.

In other words the very same institutions that engineered this crisis are the only ones that can save us.

It is the height of insanity that anyone would believe this nonsense, but then again the world fell for it after Lehman, and they’re likely to fall for it again. Unless we spread the word.

The banksters did it. And unless we derail their agenda, they’re going to do it again.

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Malaysia – A real case of “A Fool and Her Money”


According to the old idiom – “a fool and his money are soon parted“. But what is never asked of the fool is how did the money got to him/her in the first place? Regardless of by whatever means, what all the fools don’t know is the where, from and how the money derived.

Well…if you’re one of the fools like Rosmah, when “your” money (wealth) is questioned and threatened, you’d be jumping mad and barking the wrong tree. And that’s damned dangerous…soon you and your money are parted.

“Any fool can criticize, condemn and complain – and most fools do.”Benjamin Franklin

Malaysian PM’s Wife Seeks Central Bank Governor’s Ouster

Rosmah/Zeti

Two powerful women take center stage in spreading scandal as government clings to power

Prime Minister Najib Razak’s controversial wife, Rosmah Mansor, is trying to drive another powerful woman, internationally respected Bank Negara Governor Zeti Akhtar Aziz, out of the central bank,  according to knowledgeable sources in Kuala Lumpur.

Rosmah is said to be enraged over leaks of her personal financial details. She also fears that Zeti has detailed information on the 1Malaysia Development Bhd. scandal that could bring down the government and the prime minister. Insiders say Rosmah, a lightning rod for criticism over her lavish spending, is the field marshal directing the defense of her beleaguered husband’s government.

“My own view is that Najib will fight to the political death because of the wife,” a longtime academician and political analyst told Asia Sentinel. “She is much stronger than Najib and will not accept any retirement package. She is powerful in her own right.”

The year-long scandal has paralyzed Malaysian politics and played a major role in weakening the economy as Najib twists and turns to keep his enemies at bay. Earlier this week, Najib sacked several members of his cabinet for apparent disloyalty; he has also moved against critical news outlets.

Independent authority

Driving Zeti out won’t be easy. The Central Bank Act of 2009 – ironically passed that year at Zeti’s request after Najib became prime minister – insulates the central bank from political influence. The governor can only be appointed or fired by the Malaysian King, a rotating monarchy that passes among nine sultans. The current king is from Kedah, the home state of Mahathir Mohamad, Najib’s most implacable enemy.  The king reportedly has told Mahathir he is staying out of the matter so that the law can take its course.

Rosmah is said to have targeted Zeti after the Sarawak Report published details on July 9 about the deposit of RM2 million [US$523,400] into her account in Affin Bank, after which Rosmah demanded that Zeti find out who leaked the information within 72 hours or resign.

When Zeti apparently declined, she came under attack from blogs said to be linked to Rosmah.

Blogs in the fray 

One of the blogs, “Fromtheeleventh,” alleged that the police Special Branch intelligence unit is investigating Zeti and three other Bank Negara officials for sedition and carrying out a parallel investigation into Selangor state water contracts involving Zeti’s husband, Tawfiq Ayman, and their son Alif.  The blog also alleged that Tawfiq is being investigated for allegedly illegal commissions paid in a bank deal in which third parties benefited from insider information, supposedly which could have been provided by the central bank.

“By virtue of the close relationship between husband and wife, Ayman has access to confidential information that has been used for his benefit in his business dealings,” the blog said, indicating that “new information” had been supplied to investigators.

“The husband is a little shaky,” said a Malaysian businessman, “but Zeti has always acted quite properly.”

Another extremely well-informed source told Asia Sentinel, “I would totally believe that Rosmah would try to push Zeti out if she felt threatened. Bank Negara does have lots of smoking guns on all the dodgy bank transfer documentation, both involving Rosmah and also Najib, 1MDB etc. Zeti isn’t an angel and there could be dirt on her somewhere that could be used, though she’s not been associated with any major personal scandals that I can recall.  It’s more that she’s gone along with wonky stuff as required by politics and maybe got rewarded for her compliance.”

But, he said, “I do believe she still thinks of herself as a professional central banker, so she might actually draw the line here. My impression is that Bank Negara is the most likely of all the investigative entities to really be able to pin something on Najib and Co.”   

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