How UBS Sent Millions to the Clintons After Hillary Saved the Mega Bank While Secretary of State

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A few weeks after Hillary Clinton was sworn in as secretary of state in early 2009, she was summoned to Geneva by her Swiss counterpart to discuss an urgent matter. The Internal Revenue Service was suing UBS AG to get the identities of Americans with secret accounts.

If the case proceeded, Switzerland’s largest bank would face an impossible choice: Violate Swiss secrecy laws by handing over the names, or refuse and face criminal charges in U.S. federal court.

Within months, Mrs. Clinton announced a tentative legal settlement—an unusual intervention by the top U.S. diplomat. UBS ultimately turned over information on 4,450 accounts, a fraction of the 52,000 sought by the IRS, an outcome that drew criticism from some lawmakers who wanted a more extensive crackdown.

From that point on, UBS’s engagement with the Clinton family’s charitable organization increased. Total donations by UBS to the Clinton Foundation grew from less than $60,000 through 2008 to a cumulative total of about $600,000 by the end of 2014, according the foundation and the bank. 

The bank also joined the Clinton Foundation to launch entrepreneurship and inner-city loan programs, through which it lent $32 million. And it paid former president Bill Clinton $1.5 million to participate in a series of question-and-answer sessions with UBS Wealth Management Chief Executive Bob McCann, making UBS his biggest single corporate source of speech income disclosed since he left the White House.

– From today’s Wall Street Journal article: UBS Deal Shows Clinton’s Complicated Ties

The best part about Hillary Clinton’s run for the Presidency, is the endless series of scandals and shadiness that inevitably comes along with being part of an entrenched status quo family that prioritizes the accumulation of wealth and power above all else. The reason Barack Obama was able to generate so much genuine “hope” prior to his election is 2008, is because he was a complete unknown. He could say all the right things, and it was easy for people to believe the hype.

The exact oppositie is true of Hillary. No one believes anything that comes out of her mouth. Everyone knows she is dishonest, shady, and as Camille Paglia perfectly summarized in her Salon article today:

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Least Transparent Ever – IRS Used “Wholly Separate” Instant Messaging System to Hide Communications

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Barack Obama promised to have the “most transparent administration ever,” but as with pretty much every other promise he’s made over the years, the exact opposite is what has occurred.

From Hillary Clinton using her own private email server while Secretary of State, to the latest revelations that the IRS (which intentionally targeted American citizens based on their political views), used a “wholly separate” instant messaging system in order to conceal their internal communications. Of course, not only is there no transparency, but as is the case with all shady and undemocratic “elite” behavior, there is no accountability.

In the latest bit of information to emerge, we learn from Americans for Tax Reform that:

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4 Mainstream Media Articles Mocking Gold That Should Make You Think

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For those of you who have been reading my stuff since all the way back to my Wall Street years at Sanford Bernstein, thanks for staying along for the ride. I appreciate your support immensely considering that I essentially no longer write about financial markets at all, and for many of you, that remains your profession and primary area of interest.

There are many reasons why I stopped commenting on markets, but the main reason is that I started to recognize I wasn’t getting it right. In fact, in some cases I was getting it spectacularly wrong. Whenever this happens, I try to isolate the problem and fix it. In this case there was no fix, because much of why I was no longer getting it right was rooted in the fact that my heart, soul and passion had moved onto other things. My interests had expanded, and I started a blog to express myself on myriad other matters I deemed important. Providing relevant market information needs intense focus, and my focus had shifted elsewhere. I recognized that I wasn’t intellectually interested enough in centrally planned markets to provide insightful analysis, and so I stopped.

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U.S. State Department Upgrades Serial Human Rights Abuser Malaysia to Include it in the TPP

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Two weeks ago, I flagged the fact that the U.S. State Department was preparing to upgrade Malaysia’s ranking in its annual Trafficking in Persons (TIP) report from Tier 3 to Tier 2 despite little to no evidence of any improvement whatsoever. This was to be done in order to include it in the secret and shady Trans Pacific Partnership (TPP) agreement. Here’s an excerpt from the post, To Pass TPP, U.S. State Dept. Upgrades Malaysia’s Human Trafficking Ranking Despite Discovery of Mass Graves:

So why would the State Department magically upgrade Malaysia? Well, because of a tiny provision in the fast track “Trade Promotion Authority” deal that Congress recently passed. It noted that fast track authority would not apply to trade deals involving countries that were categorized as “tier 3″ by the State Department. In other words, this should have given the US tremendous leverage to push Malaysia to really tackle the problem. Instead, because it appears that the administration is so focused on getting the TPP officially finished and ratified, it got the State Department to just magically upgrade Malaysia, and effectively spit on the graves of those murdered migrant workers.

So how bad is Malaysia’s human rights record? The Huffington Post reported the following earlier this month:

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How the Department of Homeland Security Monitored and Tracked Peaceful “Black Lives Matter” Protests

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They also show the department watching over gatherings that seem benign and even mundane. For example, DHS circulated information on a nationwide series of silent vigils and a DHS-funded agency planned to monitor a funk music parade and a walk to end breast cancer in the nation’s capital.

“It is concerning that the government would be diverting resources towards surveilling citizens who are assembling and expressing their First Amendment rights,” says Maurice Mitchell, an organizer with Blackbird, a group that helps support activism against police violence in communities across the country. “The fact that our government is doing this — I can only assume to disrupt us — is pretty alarming… Directly after 9/11, people said, ‘if you’re not doing anything wrong you have nothing to worry about.’ Well, now we’re fighting back against police brutality and extrajudicial killings, yet they are using this supposedly anti-terrorist infrastructure against us.”

– From the Intercept article: Feds Regularly Monitored Black Lives Matter Since Ferguson

The Department of Homeland Security (DHS) has nothing to do with fighting terrorism. Nothing.

In fact, as I and many others have stated for years, the primary purpose of the DHS, and well as the other intelligence-industrial complex agencies, is to keep the unwashed masses in line when they wake up to the incredible criminality and theft perpetrated by the status quo. Pointing this out in 2015 isn’t particularly novel, prescient or insightful. It’s just obvious.

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Banks Squirm as Congress Moves to Cut the 6% Dividend Paid to Them by the Federal Reserve

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On December 23 of this year, the Federal Reserve will be 99 years old.  And throughout that 99 years, regardless of boom, bust, recession or Great Depression, the biggest Wall Street banks have been enjoying a 6 percent, risk-free return on the capital they hold at the Fed in the form of dividends.

Have you looked at your checking or money market bank statement lately from JPMorgan Chase or Citibank? How about the statement showing the interest you’re earning on your mortgage escrow account with the big banks? While the country suffers through the lingering effects of the Great Recession caused by the biggest Wall Street banks, the public typically receives less than 1 percent on their deposits at the big banks, while the government has legislated a permanent, risk-free 6 percent guarantee to the Wall Street banks for their capital on deposit at the Fed.  Now that’s an entitlement program that needs to die!

This corporate welfare program gets even better: if the shares of stock were acquired prior to March 28, 1942, the 6 percent risk-free dividend is tax exempt and the bank doesn’t have to pay corporate taxes on it.

– From the excellent 2012 Wall Street on Parade article: Kill This Entitlement Program: The 6% Risk-Free Dividend the Fed Has Been Paying Wall Street Banks For Almost a Century

Did you know that the Federal Reserve pays an annual 6% dividend to its shareholders, i.e., the member banks of the cartel? Must be nice, considering savers who had nothing to do with cratering the world economy, and failed to receive a taxpayer funded bailout, can barely earn 0.5% on their money. It’s also quite bizarre. How many other “public institutions” have private shareholders to whom they pay 6% risk free dividends?

None, which once again highlights the point that the Federal Reserve is NOT a public institution working on behalf of the citizenry, but is rather a banking cartel designed to enriched and protect its member banks (as we saw on clear display in 2008).

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After Testing the Technology, NASDAQ Will Use Bitcoin Blockchain

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Most of you probably heard several months ago that NASDAQ planned to test Bitcoin technology within its business. It now appears the exchange will be rolling it out live in the fourth quarter, partnering with Chain.

From Bloomberg:

Nasdaq OMX Group Inc. expects to become the first major exchange operator to use the technology behind bitcoin when a project in its private-companies business goes live in the fourth quarter.

The stock market operator is partnering with infrastructure provider Chain to use blockchain to issue and transfer the shares of privately held companies. Blockchain is the ledger that drives the bitcoin digital currency.

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3-Year-Old London Child Deemed “Extremist” and Placed in Government Reeducation Program

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The United Kingdom has gone batshit crazy. There’s simply no other way to put it. I warned about Britain’s “war on toddler terrorists” earlier this year in the post: The War on Toddler Terrorists – Britain Wants to Force Nursery School Teachers to Identify “Extremist” Children. Here’s an excerpt:

Nursery school staff and registered childminders must report toddlers at risk of becoming terrorists, under counter-terrorism measures proposed by the Government.

The directive is contained in a 39-page consultation document issued by the Home Office in a bid to bolster its Prevent anti-terrorism plan.

The document accompanies the Counter-Terrorism and Security Bill, currently before parliament. It identifies nurseries and early years childcare providers, along with schools and universities, as having a duty “to prevent people being drawn into terrorism”.

Never fear good citizens of Great Britain. While your government actively does everything in its power to protect criminal financial oligarchs and powerful pedophiles, her majesty draws the line at toddler thought crime. We learn from the Independent:

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Introducing “Trickle-Out Oligarch Economics” – How at Least $21 Trillion in Wealth Fled Offshore

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Before I get into the meat of this post, I want to make it clear that just because I point out the following doesn’t mean I like tax and think we need more of it. Rather, there are two main points I want to get across.

1) Oligarchs create tax loopholes for themselves. Oligarchs control the politicians who write legislation to suit oligarch needs. Whenever you hear politicians talk about taxing the wealthy they mean the suckers in the top 10% who are not politically-connected oligarchs. The super rich will never be touched by such legislation. They will always have loopholes available to them. This is why the statement “we need higher taxes on the rich” is basically a bullshit political talking point.

What we need is fundamental systemic change. This means truly restructuring the entire financial system, from Central Bank power, to Wall Street funding both political parties, to lengthy jail sentences for financial criminals. If we do that, oligarchs won’t be able to parasitically amass billions so easily in the first place.

2) You’ll notice much of the wealth that has been moved offshore originated from dictators who bled their home countries dry of resources as their populations starved. Many of these dictators had the full support of the U.S. government throughout their decades in power, during which time they plundered and destroyed entire nations.

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New Interview on the Keiser Report – Part 2 of 2

In part 2 of our interview, Max and I discuss how passing the Trans Pacific Partnership (TPP), is far more important to the U.S. government than human rights. We also chat about what might come next in Greece following Syriza’s failure, as well as current human migratory trends in America, including the boom occurring in my adopted home state of Colorado.

Enjoy!

In case you missed Part 1, check it out here.

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