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J. P. Morgan Chase – Harbinger of Incoming Crisis

jp-morgan-chaseVibrant events are unfolding in the world of finances. One scandal comes after another and that’s the way it goes. Especially in the United States. As soon as the curtain went down in another act of the play called US Debt Ceiling Revision, the US media switched over to a scandalous story related to the biggest Wall Street major – J.P. Morgan Chase. 

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JPMorgan Strikes Tentative $13B Mortgages Settlement

jpmorgan192way wideIn what would be the largest such settlement in U.S. history, JPMorgan Chase & Co. has reportedly reached a tentative deal with the Justice Department that would see the bank pay $13 billion to settle civil charges related to wrongdoing by some of its units just before and during the housing crisis.

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World Under Eagle Eye of US Government and Banks

treasuryThe contemporary world of finances is about information mainly, the data on banks’ clients, insurance companies, pension and investment, as well as other entities dealing in financial business, is to be collected, stored, processed and used. The miscellaneous bits and pieces are brought together from different sources.

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The U.S. vs. Brazil: From Espionage to Destabilization

nsa-hq-cover7-E-394250-13The espionage scandal which broke out after NSA employee Edward Snowden's disclosures and which has strained relations between Brazil and the United States is gaining momentum.

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US seeks new tactic in financial crisis prosecutions

bankers-wallstreetNEW YORK--U.S. federal prosecutors are considering a new strategy for criminally charging Wall Street bankers who packaged and sold bad mortgage loans at the height of the housing bubble, according to a federal official familiar with the investigation.

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US: Debts and Back Up

16-trillion-debt-The published piece called America’s Debt: Upper Tip and the Bulk of the Iceberg offers a wide range of assessments to determine the size of US debt. Today the country has to raise the debt ceiling again, otherwise the United States will lapse into a coma. But are there any limits to raising the ceiling? What is used as the debt backup? Is America able to serve the debt? 

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From Bilderberg to Google-Berg: The Technocratic Restructuring of the Global Elite

googleberg-image1World events are showing more and more clearly that the most important goals of the world elite are the total restructuring of human consciousness and even changing the essence of humans. In fact, this is both the end and the means of building a «new world order». The last meeting of the Bilderberg Group, which took place on June 6-9, 2013 at the Grove Hotel in a London suburb, was especially telling in this regard...

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McKeeva Bush queries fairness of latest transparency demands

McKeeva-Bush(Grand Cayman - CNS Business): As pressure mounts for offshore centres to reveal more information on what goes on in the world of offshore finance and the details of the thousands of companies and entities involved, Cayman’s opposition leader has questioned the fairness and risk that would bring. Speaking at the recent Commonwealth meeting in South Africa as part of a wider panel discussion on ensuring technical and legislative capacity for ethical tax-raising in small states,

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Discord Mounting in the European Union (II)

EU time bombRight on time for the conflicts in the European Union at the center of which Germany has found itself comes an IMF report unprecedented in its self-criticism. This report acknowledges the organization's serious mistakes in developing and implementing the anti-crisis program for Greece.

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America’s Debt: The Tip and the Bulk of the Iceberg

ryan-debtRight now, America is going through an acute financial budgetary crisis. Reaching an agreement on the size and structure of the budget, meanwhile, is essential, but it is not enough to allow Americans to breathe a sigh of relief. Another must is raising the government’s debt ceiling before 17 October. If the ceiling is not raised, the tax revenue will not be enough to meet agreed and approved expenditures.

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Discord Mounting in the European Union (I)

Angela MerkelInstead of overcoming the crisis together, Germany and other European Union member countries are exchanging more and more outrageous accusations. A schism in the ranks of the organization is deepening between the economic locomotive represented by Germany on the one hand and a number of countries in Central, Eastern and Southern Europe on the other. And the fact that many of these states have a bad «credit history» with Berlin could lead to new conflicts which threaten financial losses for all of Europe…

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Financial Vultures against Argentina

paulsingerFinancial vultures are a particular category of debt holders in countries on the periphery of global capitalism. Firstly, they are minority debt holders who usually only hold a small percentage of a country’s sovereign debt. Secondly, they are mostly secondary debt holders, which means that they purchase securities from the original creditors. Thirdly, they have unofficial support in Western courts. And fourthly, it is usually hedge funds that act as vultures. Other types of institutions refrain from such obvious financial pillaging, afraid of damaging their reputation.

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Regulators order lenders to raise more capital

Britain-Banks MaxwLONDON (AP) — British regulators are ordering some of the country's biggest banks to bolster their balance sheets by 27. 1 billion pounds ($42.1 billion) to prevent a repeat of the 2008 banking crisis.

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US Government Shut Down and Facing Default

US CapitolOn September 30 the United States said goodbye to the outgoing annual accounting period, October 1 is the new fiscal year day.  The main event on the New Year day is the absence of state budget appropriations.

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Multilateral debt cancellation would provide Jamaica with more resources than new loans, paper finds

imfWashington, D.C.- A new issue brief from the Center for Economic and Policy Research (CEPR) finds that multilateral lenders the International Monetary Fund (IMF), the World Bank and the Inter-American Development Bank (IDB) could provide greater assistance to Jamaica through cancelling existing debt than through making new loans.

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The War on Corruption or the Building of a Pax Americana? (II)

Siemens Examples of Actions under the FCPA: Siemens & Daimler

To this day the largest investigation under the FCPA was the case of the German concern Siemens. It was accused of paying bribes in various countries in the total amount of 1.3 billion euros during the period from 1999 through 2006. In particular, instances were revealed of the concern's complicity in corruption in Iraq during the implementation of the UN «Oil for Food» program, as well as in such countries as Venezuela, Bangladesh, Argentina, France, Nigeria, Turkey, Italy, China, Israel, Vietnam, Russia and Mexico.

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Bermuda refuses to sign tax evasion deal

Craig Cannonier 48Bermuda says it has not signed a tax avoidance treaty with Britain insisting that it would do nothing to jeopardise the island’s financial model or agreements signed in the past.

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The War on Corruption or the Building of a Pax Americana? (I)

us-flag-notesThe Extraterritoriality of American Laws

In the article «The Dollar Racket» I wrote about the passage of a large number of laws in the U.S. in recent years which are extraterritorial in nature. These laws provide for the punishment of individuals and legal entities for engaging in various illegal activities. Under these laws, not only U.S. residents could be subject to such penalties, but nonresidents - companies, banks, and foreign citizens - as well.

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G8 leaders agree tax evasion measures

David-Cameron44Leaders of the G8 major economies have agreed new measures to clamp down on money launderers, illegal tax evaders and corporate tax avoiders.

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The Dollar Racket

usdollarMore and more often, we find out that America has imposed a penalty on a non-US bank or company. In addition, the names of these banks and companies are well known and the amount of the penalties being imposed is formidable (sometimes hundreds of millions of dollars). It is a new phenomenon of global economic life and is unprecedented. Banks and companies have been fined, but by the authorities of the countries where they are based. 

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David Cameron urged to make details of firms' ownership available to the public

David-Cameron-008Business leaders including the telecoms billionaire Mohamed Ibrahim have urged leaders at the G8 summit to have the courage to impose public registers of the true owners of shell firms who hide their identities in tax havens.

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