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India & China seal record 24 deals estimated at $10bn

May 15th, 2015
Categories: Economic

Link: http://rt.com/business/258965-china-india-record-deal/

Education, establishment of consulates, space exploration, mineral resources, railway systems and TV were among 24 intergovernmental agreements signed by India and China in Beijing.

Why 25,000 Detroit Residents Will Soon Have Their Water Turned Off

May 15th, 2015
Categories: Economic

Link: http://naturalsociety.com/why-25000-detroit-residents-will-soon-have-their-water-turned-off/

As many as 25,000 residents of Detroit citizens losing their water cut-offs, though they live next to a body of water that carry’s one-fifth of the world’s water supply. Water rates risen 119% in last decade.
Child welfare authorities take children from parents that had their water cut off in 2014.

China is launching a facility that allows the yuan’s value to be pegged against gold

May 14th, 2015
Categories: Economic

Link: http://investmentwatchblog.com/china-is-launching-a-facility-that-allows-the-yuans-value-to-be-pegged-against-gold/

A gold fixing facility exists in London, but China wants its own – reflecting its ambitions as a global financial player. The establishment of a China-based gold fix for the yuan also marginally undermines the dollar as the global benchmark currency,

Greeks vote to stay in the Euro with no new Troika measures. Now what?

May 14th, 2015
Categories: Economic

Link: http://investmentwatchblog.com/greeks-vote-to-stay-in-the-euro-with-no-new-troika-measures-now-what/

A referendum could bring the conflict to a head after months of inconclusive talks between Greece and its creditors that have exasperated Germany and other euro-area countries. Public support for economic reforms might lead Greece toward a deal, rejection could set the country on a path to leaving the euro.

China’s central bank cuts rate amid further signs of slowdown

May 13th, 2015
Categories: Economic

Link: http://www.wsws.org/en/articles/2015/05/13/chin-m13.html

China’s central bank cut interest rates third time in six months to counter economic slowdown, ease debt pressures on local government authorities and corporations. Official statement People’s Bank of China (PBOC): country’s economy was “still facing relatively big downward pressure.”“Rising debt size forcing China to use a lot of resources repaying and rolling over debt.

President: Serbia to maintain neutral position, to stay away from sanctions against Russia

May 13th, 2015
Categories: Economic

Link: http://tass.ru/en/world/794543

Serbian President Tomislav Nikolic: Serbia does not plan any sanctions against Russia; invited Russian companies to invest in the farming sector, said Serbian farmers could offer high-quality produce but were short of funds. "Cooperation in that sphere could bring huge benefits to both countries."

Aim of TTIP Is to Create Economy of Big Corporations - Spanish Official

May 13th, 2015
Categories: Economic

Link: http://sputniknews.com/europe/20150513/1022101143.html

The proposed Transatlantic Trade and Investment Partnership (TTIP) deal between European Union and United States will have direct, negative impact on democracy and the welfare state in Europe, mayor of Rubi a municipality in Catalonia, Spain. "The aim of this Treaty is to create an economy of big corporations to privatize the services of culture, sport, waste disposal, water among many other things."

Russian ruble hits 18-wk high

May 13th, 2015
Categories: Economic

Link: http://rt.com/business/258125-russia-ruble-dollar-oil/

The Russian currency continues its recovery against the US dollar on Wednesday, trading at its highest level since the end of November 2014, as oil prices rise and investors see geopolitical risks diminishing.

Victory: German Retail Giant Removes Glyphosate from 350 Stores

May 12th, 2015
Categories: Economic

Link: http://naturalsociety.com/victory-german-retail-giant-removes-glyphosate-from-350-stores/

German retail giant will no longer carry glyphosate-containing products as of September 30, 2015. More than 350 ‘toom Baumarkt DIY’ stores belonging to the REWE Group are removing any product that contains this endocrine disrupting chemical concoction, and as of today, no such products can be re-ordered from their stores.

Russia criticizes World Bank of playing "geo-economic games"

May 12th, 2015
Categories: Economic

Link: http://tass.ru/en/economy/794314

Russian Foreign Ministry: Attempts of the World Bank to "play geo-economic games" and put political tasks above economic ones may result in a growing interest of the world community to alternative economic institutions.

How The US Military Is Paying NFL Teams Millions To "Honor the Troops" At Sporting Events

May 11th, 2015
Categories: Economic

Link: http://www.zerohedge.com/news/2015-05-11/how-us-military-paying-nfl-teams-millions-honor-troops-sporting-events

The Department of Defense and the Jersey Guard paid the Jets $377,000 from 2011 to 2014 for the salutes and other advertising, according to federal contracts. Overall, the Defense Department paid 14 NFL teams $5.4 million during that time, $5.3 million was paid by the National Guard to 11 teams under similar contracts.

Russia Asks Greece To Join BRICS Bank

May 11th, 2015
Categories: Economic

Link: http://www.blacklistednews.com/Russia_Asks_Greece_To_Join_BRICS_Bank/43895/0/38/38/Y/M.html

Russian Deputy Finance Minister Sergei Storchak spoke with Greek PM Alexis Tsipras today, proposed that Greece become 6th member of New Development Bank set up by Brazil, Russia, India, China, South Africa, a Greek govt official says in e-mail to reporters.

Still Losing: Creditors Change Monsanto’s Investor Rating to “Negative”

May 11th, 2015
Categories: Economic

Link: http://naturalsociety.com/still-losing-creditors-change-monsantos-investor-rating-to-negative/

Moody’s has affirmed that Monsanto’s new rating is being downgraded from ‘neutral’ to ‘negative’ following Syngenta’s announcement that it has refused Monsanto’s unsolicited bid of CHF449 per Syngenta share in a combination of cash and stock.

REPORT: IRS Continues SWAT Raids for Evasion While Hundreds of Agents Avoid Paying Any Taxes at All

May 10th, 2015
Categories: Economic

Link: http://www.blacklistednews.com/REPORT%3A_IRS_Continues_SWAT_Raids_for_Evasion_While_Hundreds_of_Agents_Avoid_Paying_Any_Taxes_at_All_/43872/0/38/38/Y/M.html

1,600 IRS employees committed tax evasion in a 10-year span; most still employed in spite of a 1998 law calling for termination in such cases. Many of the tax-evading agents were active in enforcing the federal tax laws they have broken. The agents found many ways to evade taxes;“improperly claiming dependents, repeated failure to file timely tax returns, claiming a tax credit for first-time homebuyers when the worker didn’t buy a house.”

IMF Preparing Greek Default Contingency Plan

May 10th, 2015
Categories: Economic

Link: http://www.zerohedge.com/news/2015-05-10/imf-preparing-greek-default-contingency-plan-greek-government-contemplates-defaultin

International Monetary Fund working with national authorities in southeastern Europe on contingency plans for a Greek default, a senior fund official said—a rare public admission that regulators are preparing for the potential failure to agree on continued aid for Athens"to "ensure that subsidiaries of Greek banks have enough assets that they can exchange for emergency financing at their own central banks—in case financing from their parent institutions is suddenly cut off.

Iran, Brazil to Build Oil Refinery in Latin America

May 10th, 2015
Categories: Economic

Link: http://sputniknews.com/middleeast/20150510/1021960613.html

The crude only refinery is aimed at “securing long-term demand for Iran's exported crude oil”, Tehran was also in talks with an Indian company to build a refinery in India with the capacity to process 400,000 barrels of crude oil. India is the second biggest customer of Iran's crude oil after China.

Congress Tells Court It Can't Be Investigated for Insider Trading

May 8th, 2015
Categories: Economic

Link: http://xrepublic.tv/node/13166

In a little-noticed brief filed last summer, lawyers for the House of Representatives claimed that an SEC investigation of congressional insider trading should be blocked on principle, because lawmakers and their staff are constitutionally protected from such inquiries given the nature of their work.

"Too Big to Exist': Sanders Introduces Bill to Break Up Big Banks

May 7th, 2015
Categories: Economic

Link: http://www.newsforage.com/2015/05/too-big-to-exist-sanders-introduces.html

U.S. Senator Bernie Sanders of Vermont, will introduce bill to break up country's biggest banks, the Too Big to Fail, Too Big to Exist Act, Financial Stability Oversight Council would compile list of institutions so large their collapse could trigger an economic crisis. The Treasury Secretary would have a year from bill's passing to break them up. "No financial institution should have holdings so extensive that its failure could send world economy into crisis."Firms on that list would be banned from using customer money to make "risky activities on the financial market.

21 States Now Suspend Your Driver’s License Over Delinquent Student Loan Payments

May 7th, 2015
Categories: Economic

Link: http://govtslaves.info/21-states-now-suspend-your-drivers-license-over-delinquent-student-loan-payments/

Montana residents will no longer have their drivers licenses suspended if they fall behind on their student loan payments. A Montana law that allowed the state to revoke licenses for that infraction was scrapped. In at least 21 states, similar laws remain on the books.

Feds collect record $472 billion in taxes in just one month

May 7th, 2015
Categories: Economic

Link: http://patriotrising.com/2015/05/07/feds-collect-record-472-billion-in-taxes-in-just-one-month/

The federal government set a record tax haul in April, taking in nearly a half-trillion dollars in one month alone, according to Congressional Budget Office statistics released Thursday. Spending, was a more modest $317 billion, leaving the government with a surplus for that one month of $155 billion — also a record.

Why We Have An Oversupply Of Almost Everything

May 7th, 2015
Categories: Economic

Link: http://www.zerohedge.com/news/2015-05-07/why-we-have-oversupply-almost-everything

Economic growth eventually runs into limits. Common workers can no longer afford to buy goods and services that the economy produces, because of inadequate wages. Not enough good paying jobs for workers, lack of investment opportunities, because workers cannot afford high prices of goods required to provide adequate return.

America's poor are 'envy of the world,' says richest Congressman

May 7th, 2015
Categories: Economic

Link: http://www.democraticunderground.com/10141087776

Darrell Issa, richest man in Congress; net worth in 2013 $448.4 million said America has made "our poor somewhat the envy of the world."Third World countries have greater inequality of income and wealth, less opportunity for people to rise from have not to the have," said Issa. In the U.S. he noted there is better availability and access to quality public education.

REPORT: Putin says Russia may fund Greece's energy projects

May 7th, 2015
Categories: Economic

Link: http://www.businessinsider.com/report-putin-says-russia-may-fund-greeces-energy-projects-2015-5

Russian President Vladimir Putin has weighed in on Greece's current financial drama, according to a Bloomberg alert, suggesting that the country may provide funds for Greek energy projects.

This is why they are militarizing: “The world will become Baltimore when people realize they cannot acquire basic resources” - Video

May 6th, 2015
Categories: Economic

Link: https://intellihub.com/this-is-why-they-are-militarizing-the-world-will-become-baltimore-when-people-realize-they-cannot-acquire-basic-resources/

World’s central banks and governments throwing everything they can at the problem in an effort to keep system propped up long as possible, will leave most of world’s population, totally wiped out and impoverished. Result will be widespread civil unrest, violence as people realize they have nothing left and no ability to acquire even most basic essential resources.

It Begins: US Government Issues $700,000 Fine Against A Digital Currency

May 6th, 2015
Categories: Economic

Link: http://www.zerohedge.com/news/2015-05-06/it-begins-us-government-issues-700000-fine-against-digital-currency

US Financial Crimes Enforcement Network (FinCEN), issuedfirst-ever ‘civil enforcement action’ against a virtual currency; Ripple Labs. Hong Kong Treasury: “the Government does not consider it necessary to introduce legislation to regulate trading in virtual commodities or prohibit people from participating in such activities.”in the US and in Europe: Tracking down virtual currency transactions. Banning cash. Anything they can do to keep your money trapped in the system where they can keep their eyes on it.

Russia sanctions killing German companies: MP

May 5th, 2015
Categories: Economic

Link: http://www.presstv.com/Detail/2015/05/05/409510/Germany-Russia-sanctions

German lawmakerFranz Wiese condemned European Union and Chancellor Angela Merkel’s anti-Russia policy; EU bans are destroying the country’s businesses, with dozens of reported bankruptcies.

Anti-Cuban embargo movement picks up steam in US

May 5th, 2015
Categories: Economic

Link: http://news.yahoo.com/anti-cuban-embargo-movement-picks-steam-us-191703949.html

Big businesses and politicians from both sides of the ideological spectrum are putting their muscle into new Washington lobbying efforts to end the U.S. embargo on Cuba as the two countries press ahead to re-establish diplomatic relations with the backing of more than a dozen Fortune 500 firms ranging from hotel companies to agricultural businesses.

May Day in Venezuela: President Maduro to Raise Minimum Wage Once Again

May 5th, 2015
Categories: Economic

Link: http://www.latinpost.com/articles/51194/20150503/venezuela-raises-minimum-wage-once-again.htm

Venezuela President Nicolas Maduro announced he is increasing the minimum wage for the second time this yearas well as the pensions for retirees by 30 percent, raise salaries for government employees and military personnel as well. Maduro: "I have to protect the vital salary of the workers as defended by the constitution."

Russian Ruble Is 85% of Money Transfers in East Ukraine Rebel Republic

May 5th, 2015
Categories: Economic

Link: http://russia-insider.com/en/russian-ruble-85-money-transfers-east-ukraine-rebel-republic/6428

LPR Head Igor Plotnitsky; Two months after Luhansk People’s Republic (LPR) introduced a multi-currency system over Kiev’s economic blockade Russian ruble took up 85% of money supply. 85% of all payments in LPR territory are made in Russian rubles while the Ukrainian hryvnia accounts for 12%.

U.S. Fears a European “Lehman Brothers”, Greek Default Would Cause A New And Very “Unpredictable” Paradigm – Huge Uncertainty In Markets

May 5th, 2015
Categories: Economic

Link: http://investmentwatchblog.com/u-s-fears-a-european-lehman-brothers-greek-default-would-cause-a-new-and-very-unpredictable-paradigm-huge-uncertainty-in-markets/

U.S. Council on Economics is alarmed by risk being taken by European elites to bring Greece to heel. Greek default would cause a new and very “unpredictable” paradigm – huge uncertainty in markets. U.S. policy makers fear unforeseeable knock-on effects.

Donetsk Republic Nationalizes Banks, Draws Ire Of NATO and World Banking Cartel

May 5th, 2015
Categories: Economic

Link: http://www.activistpost.com/2015/05/donetsk-republic-nationalizes-banks.html

Donetsk People’s Republic in the process of putting together a formal government, plans to nationalize banks that have parasitized Ukraine for years no doubt drawn the ire of oligarchs that own those banks and Anglo-American banking cartel that owns the United States and NATO countries bent on world hegemony and submission to their will.

We have a very dangerous situation for the IMF, where the French IMF President(s) had a vested political interest in bailing out Greece at the time to save the French and German banks from major losses.

May 5th, 2015
Categories: Economic

Link: http://investmentwatchblog.com/we-have-a-very-dangerous-situation-for-the-imf-where-the-french-imf-presidents-had-a-vested-political-interest-in-bailing-out-greece-at-the-time-to-save-the-french-and-german-banks-from-major-losse/

The IMF faces a dilemma right now. Threatening to stop providing funds to Greece means that Greece is less likely to repay it. On the other hand giving more money to Greece means that any default grows in size.

Sanctions & Saber Rattling Doesn't Stop The US From Importing Russian Petroleum

May 5th, 2015
Categories: Economic

Link: http://www.zerohedge.com/news/2015-05-05/sanctions-saber-rattling-doesnt-stop-us-importing-russian-petroleum

Russia is the U.S. second largest non-OPEC source of net petroleum products in the month of January. Canada is the largest at 2.9 million barrels per day, Russia at 389,000 bd, Columbia 264,000 bd, Chad 93,000 bd and Mexico at 44,000 bd.

China’s Government Bond Market Opens for Foreigners

May 5th, 2015
Categories: Economic

Link: http://sputniknews.com/business/20150505/1021735049.html

China has liberalized its bond market and issued bonds in yuan, significantly liberalized its bond market and opened it for foreigners. Chinese bond market is the third largest in the world after the US and Japan.

China, Russia to sign a host of cooperation deals during Xi’s visit to Moscow

May 4th, 2015
Categories: Economic

Link: http://tass.ru/en/world/792927

China and Russia will sign a host of deals on energy, finances and investment during a visit by Chinese leader Xi Jinping to Moscow on May 8-10, Chinese Deputy Foreign Minister Chen Gopin said on Monday.

Two-Thirds Of US Millionaires Fear "They Will Lose It All" If The Market Crashes

May 4th, 2015
Categories: Economic

Link: http://www.zerohedge.com/news/2015-05-04/two-thirds-us-millionaires-fear-they-will-lose-it-all-if-market-crashes

"Millionaires feel compelled to strive for more, spurred on by their own ambition, their desire to protect their lifestyle and an ever-present fear of losing it all. With memories of the financial crisis still lingering, most millionaires don’t have enough wealth to feel secure.

Greek govt pledges to pay off all debt, Varoufakis back in the game

May 4th, 2015
Categories: Economic

Link: http://rt.com/business/255429-greek-government-debt-repayment/

Athens is set to repay loans to all creditors, including the IMF, said the government’s spokesman Gabriel Sakellaridis. Finance Minister Yanis Varoufakis is set to again head the Greek negotiation team after being briefly dumped from the process.

Why The Powers That Be Are Pushing A Cashless Society

May 4th, 2015
Categories: Economic

Link: http://www.blacklistednews.com/Why_The_Powers_That_Be_Are_Pushing_A_Cashless_Society/43770/0/38/38/Y/M.html

The central banks areplanning drastic restrictions on cash . They see moving to electronic money will eliminate the underground economy, believe it will prevent a banking crisis and elimination of the ability to demand to withdraw funds from a bank, increase their control. Financial police searching people on trains passing through France to see if they are transporting cash, which they will seize.

Australia First to Introduce a Compulsory Tax on Money Itself

May 3rd, 2015
Categories: Economic

Link: http://www.blacklistednews.com/Australia_First_to_Introduce_a_Compulsory_Tax_on_Money_Itself/43752/0/38/38/Y/M.html

The new compulsory control is provided for in the 2015 Australian budget.Everyone who has any savings must pay taxes on their savings. The measure is expected to serve as a global test balloon for Europe and North America.

US Billionaire Says Now is Ideal Time to Invest in Russia

May 2nd, 2015
Categories: Economic

Link: http://sputniknews.com/business/20150502/1021636797.html

US billionaire investment mogul David Bonderman believes that there's no time like the present to invest in Russia, adding that US sanctions policy has only backfired on them.

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