Iceland just sentenced their 26th banker to prison for his part in the 2008 economic collapse. The charges ranged from breach of fiduciary duties to market manipulation to embezzlement.
No one wants to be audited, so knowing how long your tax return can be attacked is important. The statute of limitations on taxes is a fundamental rule allowing taxpayers to eventually cut off their exposure, an expansion of the IRS's power to audit for extra years.
Iran said on Saturday that it plans to use billions of dollars of its blocked assets that are expected to be released after the removal of sanctions against the country for imports of essential goods, will have an immediate access to $30 billion of blocked Iranian assets that have been frozen in different overseas accounts as a result of the sanctions.
The government has to substantially reduce costs, scrap a series of projects and perform staff downsizing; Russian Prime Minister Dmitry Medvedev at the meeting on 2016 federal budget. "We will look at expenses that should be slashed and decide what projects we will have to abandon or postpone. I tasked all ministries and departments to make such proposals — on reduction of costs and downsizing," urges to mobilize budget revenues, particularly in privatization. Dramatic movement of oil prices creates serious risks for budget performance
International sanctions against Iran are due to be lifted Saturday, according to Tehran’s Foreign Minister Mohammad Javad Zarif. The move will take effect when the International Atomic Energy Agency has issued its final report concerning Iran’s nuclear program.
Scale of the malfunctions exceeded anything Blue Cross officials had expected, customers worry the insurance giant’s miscues could leave them uninsured for weeks until the situation is resolved. The difficulties have become so widespread that this week the N.C. Department of Justice sent Blue Cross a letter asking it to explain what went wrong, how many customers were affected and how it plans to rectify the billing errors that were made in recent weeks. Of the estimated 25,000 customers who didn’t get the health insurance policy they had selected, about 17,000 remained to be processed Thursday, Blue Cross officials said Thursday. The company’s goal is to activate coverage retroactively to Jan. 1 for customers who made their first payment to Blue Cross.
The Brent and WTI crude benchmarks slid below $30 per barrel on Friday, as investors worry about Iran’s earlier than expected return to the oil market. International sanctions on Tehran may be lifted Monday, allowing the fifth-biggest member of OPEC to boost oil exports.
Michigan residents who say they've suffered injury from drinking lead-contaminated water have filed a class-action lawsuit against Gov. Rick Snyder, the state, and the city of Flint. State was forced to admit it was responsible for poisoning the water, the State knowingly made false statements concerning the drinkability of the water. Investigation by the U.S. Department of Justice and the Environmental Protection Agency as well as a separate class action lawsuit against the city, state and county,
Russia, China, India and other emerging powers are pushing for a multipolar world; meanwhile the United States, a former hegemon, is unable to stop them as it is losing its political power and is “de-facto bankrupt,” Russia, China and other emerging economies are beginning to reduce their dependency on the US dollar. Russia plans to trade oil using rubles by undermining the current US oil price monopoly.
The United States has spent nearly half a billion dollars and five years developing Afghanistan’s oil, gas and minerals industries — and has little to show for it.,The project’s failings are the result of poorly planned programs, inadequate infrastructure and a challenging partnership with the Afghan government; Special Inspector General for Afghanistan Reconstruction.
The US Army has awarded 17 companies, including major corporations, $900 million in contracts for logistics and service support for biological and chemical war projects, the Department of Defense announced.
Oil prices have experienced a rebound in global markets, after going through a drastic fall, which saw crude prices fall below USD 30 a barrel for the first time in more than 12 years, global supply glut that has been putting a tremendous downward pressure on the market for the past 18 months.,
Russian President Vladimir Putin said in an interview with German newspaper Bild that Russia’s economy is, at best, fifth in the world in terms of volume. “We do not claim the role of a superpower,” he said. “This role is very costly and it is meaningless.”
United Methodist Church pension fund blocked five Israeli banks from its investment portfolio to weed out companies that profit from abuse of human rights. Also sold holdings in Israeli real estate and construction company Shikun & Binui, barred the company from the pension group's investment portfolio; identified Israel among countries or regions with "a pattern of human rights abuses." Other countries on the list include Saudi Arabia, Central African Republic and North Korea. The Methodist church largest mainline Protestant group in the United States.
The Royal Bank of Scotland has recommended its clients prepare for a “cataclysmic year,” as major stock markets could drop by a fifth and Brent oil could hit $16 a barrel. "Sell everything except high quality bonds. This is about return of capital, not return on capital. In a crowded hall, exit doors are small," said the bank’s credit team in a note sent to clients, According to RBS analysts, the markets are showing the same stress alerts as seen before the 2008 crisis. Andrew Roberts, the bank’s credit chief: “China has set off a major correction and it is going to snowball.”
. Obama evaded the real issues that affect tens of millions of working people in America. He painted a ludicrous picture of economic recovery and social progress; “how we recovered from the worst economic crisis in generations.” The so-called “recovery” has been a bonanza for corporate profits, stock prices, and the wealth and income of the super-rich. For the working people who are the vast majority of the population, it has been a disaster.
Monsanto announcing the company will cut about 3600 jobs. Plans to construct a $90 million GM corn processing plant in Independence, Iowa have reportedly been scrapped due to a ‘struggling farm economy..
Swiss canton of Zug is asking its citizens to delay paying their taxes for as long as possible. Why? Negative interest rates. The cantonal government doesn’t want to take in a pile of cash, only to end up paying the bank interest on all the tax revenue. So if a bank is paying interest to hold funds with the central bank, eventually they’re going to pass that cost on to the governent. According to the Financial Times, the cantonal government of Zug estimates that they will save $2.5 million in negative interest rate charges by delaying tax receipts.
Australia’s stock exchange last week experienced its worst start to a year in recent history, and the share price falls continued for the seventh consecutive day yesterday, with mining and banking companies most seriously affected.As of last night, the main Australian share indexes had dropped more than 7 percent in 2016, wiping off more than $100 billion in value from the S&P/ASX 200 stocks alone.
According to Sam Benson — who goes by the stage name of “Blac Youngsta” — he had just exited a Wells Fargo branch in the upscale community of Buckhead after withdrawing $200,000 in order to buy a new car. ‘I’m a millionaire. How can I not have $200,000 on me?’” A spokesperson for the Atlanta police department explained that they were responding to a call “at the request of the bank manager” before finding “that no crime had been committed.”
National Assembly of Venezuela, deputies passed a law which lays the foundation for a truly democratic food system. It promotes agroecological production methods – that’s a form of farming that works with nature and avoids chemicals, pesticides and monocultures. It aims to make the county independent of international food markets; outlaws the privatization of seeds and promotes instead small and medium scale farming and biodiversity.
A large Irish company has cut its business ties with Israel over the Tel Aviv regime’s policies against Palestinians. The building materials group, CRH, says it has divested its 25 percent stake in the Israeli cement market. The company has long been under fire over its cooperation with the Israeli firm, Mashav, which supplied materials for the construction of the so-called ‘Separation Wall’ in the West Bank, as well as checkpoints and settlements.
Amid stock market panic in China, many of the country’s most prominent billionaires are disappearing without a trace. Dozens of wealthy executives throughout China have disappeared in the past year; a growing corruption investigation in which many of these executives are implicated. Small number of them officially announced as being in government custody. Likely some are hiding expecting they will be jailed; possible government is sweeping them up in middle of the night.
In an unprecedented move major financial institutions operating in the shadows are reportedly gobbling up silver and gold coins and small bullion bars at such extreme levels that mints in Australia, Canada and the United States are unable to keep up with demand.
The U.S. Supreme Court on Monday rejected a bid by Nestle SA, the world's largest food maker, and two other companies to throw out a lawsuit seeking to hold them liable for the use of child slaves to harvest cocoa in Ivory Coast.The high court left in place a December 2014 ruling by the San Francisco-based 9th U.S. Circuit Court of Appeals that refused to dismiss a lawsuit against Nestle, Archer-Daniels-Midland Co and Cargill Inc filed by former victims of child slavery.
Demand is declining in view of the slowdown of China’s economic growth and reorientation of the growth model from the investment to consuming (domestic demand-focused) one. "Expectations of slowdown of China’s economy growth rates; China’s stock market fall early this year, US stock market also decline,"lifted ban on oil export by the United States and cancelation of sanctions on Iran also contribute to oil prices drop.
Bitcoin is the top performing currency of 2015. According to The Money Project, the decentralized digital currency beat the US$ by 35 percent; bitcoin was also the top performing currency of 2013, but the worst currency of 2014,
Through a unanimous vote by its City Council, the city of Berkeley, California has decided to hold Monsanto legally liable for polluting the land and water with PCBs (polychlorinated biphenyls). PCB’s were first manufactured in 1929 by the Swann Corporation, which later became part of Monsanto Chemical Company. Environmental destruction was so obvious Congress had to outlaw them.
Commerce between Europe and North America has literally come to a halt. For the first time in known history, not one cargo ship is in-transit in the North Atlantic between Europe and North America. All of them (hundreds) are either anchored offshore or in-port. NOTHING is moving. This has never happened before. It is a horrific economic sign; proof that commerce is literally stopped.
China has suspended some banks from Foreign Exchange markets and ordered other banks to stop buying Dollars. China’s foreign exchange regulator has ordered banks in some of the country’s major import and export centers to limit purchases of U.S. dollars . All banks in certain trading hubs, including Shenzhen, received the regulator’s order recently..
China's stock market collapse and imposition of currency controls threaten to further destabilize the world markets, as analysts predict an end to China's perpetual growth. The market collapse over the first week of 2016 showed that China's roughly 10 percent collapse in the Shanghai Composite Index can reverberate around the world.
Last week rail carload data showed volumes fell 10.1% on a year-over-year basis resulting in the longest period of sustained weakness since 2009. Rail carloads have now fallen 5% on a year-over-year basis for the past 11 consecutive weeks. Over the last 30 years this has only happened five times and each occurrence either overlapped or preceded a recession by a few quarters.
Economic Development Minister Alexey Ulyukayev: High volatility of the currency has led to big problems in the Russian Economy, not exchange rate values, Russian companies "are not always able to adapt" to such high volatility, because "dependence on imported raw materials, on imported components is high." "Many banks value access to the global capital markets, debt refinancing for borrowers is hindered. All this led to big problems,
Global stock markets experienced worst opening week in a new year in two decades as concerns over the Chinese economy, value of the renminbi and policies of Chinese financial authorities sent out a series of shock waves. $2.3 trillion was wiped off the value of global stocks for the week. Markets in the US had worst opening week ever. Shares closed down about 1 percent on Friday, after falls in Japan and Europe,German Dax index posting biggest loss since 2011.
Starting at the beginning of 2016, the pharmaceutical giant Pfizer Inc. quietly jacked up the U.S. prices of over 100 of its drugs, some by nearly a fifth. No price reductions were reported. "TPP countries have agreed to United States government and multinational drug company demands that will raise the price of medicines for millions by extending monopolies and delaying price-lowering generic competition."
More than 40% of millennials used a payday loan, pawnshop, tax refund advance or other alternative financial product in the past five years, according to a survey of more than 5,000 millennials by tax and consulting firm PricewaterhouseCoopers. (39%) of U.S. households used at least one alternative financial service, according to a 2013 survey from the Federal Deposit Insurance Corporation..
Chinese Gold Reserves increased by 19 tonnes in December. Since starting monthly reporting in July, China has added 104 tonnes of gold to its reserves in 2015 Total reported Chinese gold reserves stand at 1,762.323 tonnes. June 2015, China updated its gold reserves for the first time since 2009 by reporting an additional 604 tonnes. In August, China updated its gold reserves for July adding 19.4 tonnes. In September, China reported adding 16.15 tonnes of gold to its reserves during the month of August.
The Swiss National Bank said on Friday that it expects to post an annual loss of 23 billion francs ($23 billion) for 2015 due largely to foreign exchange transactions. This contrasts with the record profit of 38 billion francs recorded in the previous year The central bank said its foreign currency losses amounted to 20 billion francs, while gold holdings lost four billion francs in value.
Tehran has severed its commercial ties with Riyadh, its government announced on Thursday. The move comes amid a diplomatic rift between the two nations following the execution of a prominent Shia cleric by Saudi authorities.
Engineers at America’s biggest automaker, which got a $50 billion government bailout in the financial crisis, knew of a flawed ignition switch but rejected a fix that would have cost 90 cents apiece. The switch could be jarred into the “accessory” position, shutting off the engine, disabling power steering and brakes and preventing air bags from deploying. The faulty switches are linked to the deaths of at least 124 people,
In recession since the second quarter of last year, Brazil is suffering from rising unemployment and a drop in investor confidence. Both have been fueled by a deteriorating political crisis involving President Dilma Rousseff who has been caught in a scandal related to the state oil firm Petrobras. Food prices have also picked up amid sharp currency devaluation in the country as well as impacts of severe weather conditions.
Russian sanctions have severely disrupted Turkish exports to Central Asia. The transit route via the Caspian Sea and Azerbaijan cannot sustain exports to the Central Asian market. Amid falling oil prices and the resumption of the Nagorno-Karabakh crisis Azerbaijan cannot be considered a reliable partner. In addition, Ankara has concerns about new Russian weapons deployed to the Caspian Sea.
China has suspended stock trading for the second time this week after an abrupt 7 percent decline during the first half an hour of trading sent shocks through global markets. The events prompted the Chinese regulator to suspend circuit-breaker measures.
Competitors, using the older, much cheaper, and equally effective drug, have driven the price down to a mere $4 a pill. This makes total cost to cure your Hepatitis C in India’s free market $336. United State’s market controlled price of $84,000,
Once your money is deposited in the bank, it legally becomes the property of the bank. Your deposited cash is an unsecured debt obligation of your bank. State and local government deposits are considered “secured,” since they remain junior to the derivative claims with “super-priority.” Your money is not considered security or collateral but merely a loan to your bank and you will be forced to stand in line along with the other creditors. Some will rob you with a six-gun and some with a fountain pen; you won’t NEVER see an outlaw drive a family from their home.”
Dr. Bradstreet was working with a little-known molecule that occurs naturally in the human body. Called, "GcMAF", has the potential to be a universal cancer cure for many people; also shown to reverse signs of autism in the vast majority of patients receiving the treatment. U.S. government conducted a raid on Dr. Bradstreet's clinic, seeking to confiscate GcMAF in order to shut down his research and halt his treatment of patients. Big Pharma gets special permission to unleash untested, experimental drugs on the public as long as those drugs earn sufficient profits
Iran says that it has set eyes on the removal of the US-led sanctions to bring in the technology it requires to produce more natural gas for exports to as far as India, China and Europe. Iran can easily increase its current natural gas production. “The United States is trying to export liquefied natural gas (LNG) to Europe to reduce its dependence on Russian supplies
China’s stock market was closed early Thursday for the second time in four days as stocks plunged as soon as it opened. A key index dropped by 5 percent, forcing an automatic 15-minute freeze. When the markets re-opened the losses continued and the market was shut for the day when they hit 7 percent. The China plunge came after a day of turbulence in European and US markets on Wednesday, prompted by a further drop in oil prices, rising concerns over Chinese growth and financial stability, and worries over emerging market debt
Submission of governments to corporate interests accelerating — particularly in Brussels, now home to almost as many lobbying groups as DC. Europe’s local level, opposition to TTIP continues to grow, some parts of some countries might benefit handsomely, others stand to lose out enormously, resulting in widening economic imbalances across Europe’s regions.” European populace has never been able to block the dictates of the EU, especially on trade issues. The Corporatist will strengthen their strangle hold on international trade.
China has lost control of its currency (whether intentionally or not) ; North Korea tests a nuke; European inflation disappoints; US services economy collapses (follows manufacturing's lead and another pillar of hope is destroyed); Crude crashes to fresh decade plus lows; The Fed offers nothing in the way of hope for growth (or puts); Bernanke says not to expect Fed to save stocks; World Bank cuts global growth outlook... But apart from that, everything is awesome!!!
DUI checkpoints are a HUGE moneymaker for state and local budgets. Albuquerque, New Mexico making $1 million a year from it's drunk driving program. "Each year, the city seizes approximately 1,000 vehicles and brings in roughly $1 million in forfeiture proceeds, University of Berkeley received close to $14 million in grants from DHS to run California's Sobriety Checkpoint program.
Falling crude prices poses a new challenge for the Russian economy in 2016. Russian oil companies pay most of their expenses in domestic currency (a weak ruble) while getting hard currency (a strong US dollar) for their product. Russia's Finance Ministry announced in December that it is drawing up plans based on the price of oil as low as $30 a barrel until 2022. Another possible move for Moscow to is to depreciate the ruble against Western currencies.
David Cameron: Taxes will have to rise unless officials are given new powers to raid people's bank accounts, The Treasury select committee warned that allowing HM Revenue and Customs to remove cash from bank accounts without court orders is "very concerning" because of its history of mistakes.The committee said that taxpayers could suffer “serious detriment” if officials are able, either by mistake or through an “abuse” of power, to take money from people who have done no wrong.
Class conflict will become an ever-more dominant feature of life in 2016 as the ruling classes in the US and around the world demand that workers pay for the global economic crisis and the cost of endless and expanding war. Last year was marked by significant initial expressions of growing opposition among workers internationally.
Brazil’s government has excluded an Israeli “security” company from working at the 2016 Olympics in Rio de Janeiro following a campaign by Palestine solidarity activists. Israeli firm International Security and Defence Systems (ISDS) had close ties with Israeli military, as well as a long and sordid history in Central and South America. Helped train and arm the Contras in Nicaragua who tried to overthrow the Sandinista government. Trained and helped form anti-terrorism “squads” within the Guatemalan military to target opposition forces and grassroots organizing, while providing the military with electronic surveillance, arms, helicopters, and airplanes. ISDS trained Honduran death squads which conducted kidnappings, killings, and torture against political dissidents.
Trading was suspended on Chinese markets after stocks tumbled 7 percent in the first trading of the year, triggering the new “circuit breaker” system limiting volatility, which was introduced in December. The fall from Asia led to a slump in European stocks as well.
As of January 1, 2016, all European banks will be subject to "Bail Ins"; a procedure whereby a failed or failing bank can convert some of your bank deposits into the stock of the failing bank. Money in your bank account can be taken by the bank and converted so that you would now own stock in what had been a failing bank. Once you deposit money in a bank it is no longer yours. It belongs to the bank. You are what is called an "unsecured creditor" of the bank. FDIC (along with the Bank of England) issued a paper on December 10, 2012 on how Bail In procedures will be implemented in the U.S. and in England.
Florida village of Bal Harbour police department, in conjunction with the Glades County Sheriff’s Department, ran a money laundering sting operation for two years. had officers conducting deals all over the US, and sending money across the world. Over $2.4 million was added to their coffers, no arrests were ever made. $20 million was funneled through businesses in the Miami area to launder the money for drug groups, and the police never notified federal authorities about their operation.
California and Massachusetts are highest among the states, both increasing from $9 to $10 an hour, according to an analysis by the National Conference of State Legislatures. At the low end is Arkansas, where the minimum wage is increasing from $7.50 to $8. The smallest increase, a nickel, comes in South Dakota, where the hourly minimum is now $8.55. The increases come in the wake of a series of "living wage" protests across the country,
Russia’s Finance Ministry is filing a lawsuit against Ukraine for failing to pay off its $3 billion Eurobond loan debt to Russia before the December 31 deadline. This means that Ukraine is now officially in a state of default, the ministry added. The lawsuit will be filed in the London Court of International Arbitration (LCIA).
Governor Robert Bentley figured it could fix the mansion with money from the settlement BP paid after the 2010 Deepwater Horizon disaster; expects to spend upwards of $1.8 million of the BP funds on the construction. Bentley’s administration claimed earlier this year that it had no money to keep DMV offices open in some of Alabama’s poorer counties. The DMV offices are the primary place voters can obtain the identification required to vote under the state’s new laws.
A captured Islamic State militant who spoke to Sputnik news agency has bolstered claims Turkey is involved in illegal oil deals with the jihadist group; The oil trucks crossing into Turkey every day carry crude oil, as well as petrol.”sold via several businessmen and traders.“ISIL also receives supplies from Turkey and Arab countries,” the captured militant said. Turkey denies that it has links to the terrorists.
Jamaican Stock Exchange skyrocketed more than 80 percent in 2015. This is the best results among 92 markets tracked by Bloomberg. Caribbean Cement saw a 969 percent increase in profit. Modeling agency and marketing company Pulse Investments saw a 557 percent growth in its share price and will pay dividends for the first time since 1994.
International Monetary Fund Managing Director Christine Lagarde: global economic growth next year would be “disappointing,” pointed to continuing slowdown in China and the prospect of rising interest rates in the US as major factors leading to a continued slowdown in world growth rates and the potential for financial shocks; substantial decline in the growth of world trade, fall in oil and other commodity prices, worsening economic and financial crisis in “emerging market” and “developing” countries whose economies are heavily dependent on commodity exports and expanding trade.
“It is amazing that people who think that we cannot afford to pay for doctors, hospitals, and medications think we can somehow afford to pay for doctors, hospitals, medications, and a government bureaucracy to administer it.” Even relatively healthy individuals are paying over 15 percent of their income for ObamaCare health insurance plans.
Federal officials today announced arrests and charges in a stolen identity tax-refund scheme believed to involve more than $1 million in false claims and run by an IRS employee who was supposed to be assisting taxpayers experiencing problems resulting from identity theft.
In America today, there are more than 17 million “independent workers”, and they represent a bigger share of the workforce than ever before. Temp workers don’t get health insurance, vacation time or retirement benefits. Some of the biggest corporations in the entire country are getting rid of “full-time workers” and replacing them with temp workers just so that they can make a few extra bucks.
Puerto Rico will default on a portion of the nearly $1 billion in debt obligations due to its bondholders on Jan. 4. Top officials for the commonwealth have confirmed that it will not be able to make two out of the 13 total payments due Monday to bondholders. Puerto Rico will default on a $35.9 million payment on the Puerto Rico Infrastructure Financing Authority, and a $1.4 million payment on the Puerto Rico Public Finance Corporation.
On the economic front there are two sources of this mounting disquiet: First, the fact that despite the pouring of trillions of dollars into the global financial system by the world’s major central banks, recessionary tendencies are gathering momentum. Second,“there is… a widespread fear that, after years of unorthodox monetary policy, another financial or economic crisis might be building.”
The amendments would change Russian civil and arbitration codes by introducing the principle of limited legal immunity for a foreign state. They detail the procedure of initiating a lawsuit against a foreign nation and serving court warrants to its representatives. The document also prescribes the role of various Russian state agencies in court cases against foreign states.
The $1.1 trillion spending bill passed recently by Congress sent the pro-medical marijuana movement a step forward by included several drug reform provisions.The bill includes language that blocks the Justice Department (JD) and Drug Enforcement Agency (DEA) from dedicating resources to interfere with state medical marijuana laws or hemp research projects
Sen. Chris Coons (D-Del.) is proposing a temporary surtax to pay for the war against the Islamic State in Iraq and Syria (ISIS);. said Congress has taken steps to pay for every major conflict, often through new taxes, since the War of 1812.. The Iraq War would eventually cost $1.64 trillion and the Afghanistan War $715 billion..Coons said those costs would include an additional $6 trillion if long-term care for injured veterans were factored in..
President Woodrow Wilson—who brought us into World War I, arrested Americans for singing German beer hall songs in public, campaigned for the federal income tax by promising it would never exceed 3 percent of income, helped to create the cash-printing Federal Reserve, laid the groundwork for Prohibition, and kept Jim Crow going—borrowed $30 billion to pay for World War I. The $30 billion that Wilson borrowed was repaid by the feds with borrowed dollars. Federal government still owes $30 billion that Wilson borrowed,to different lenders from those who originally financed the Great War. It has paid more than $15 billion in interest payments on that $30 billion.
Russia’s primary sanctions against Turkey came four days after the Turkish military on November 24 brought down a Russian Sukhoi aircraft, which as Ankara claimed, violated the Turkish airspace near the Syrian border. .The sanctions included a ban on the employment of Turkish citizens by Russian employers, restricted imports of certain Turkish goods such as vegetables and fruits, ban on charter flights between the two countries and suspension of travel package sale to Turkey. According to the new presidential order, there will be a ban imposed on the operations of several organizations under the jurisdiction of Turkey as well as a limitation of Turkish organizations’ activities in Russia.
U.S. national debt has risen from $10,626,877,048,913.08 on January 20th, 2009 to $18,795,033,928,275.59 on December 21st, 2015. That means that the debt that we are passing on to future generations has increased by 8.16 trillion dollars since Barack Obama was inaugurated.
January 1st, 2016, a new bail-in system will go into effect for all European banks. This new system is based on the Cyprus bank bail-ins a few years ago. Money was grabbed from anyone that had more than 100,000 euros in their bank accounts in order to bail out the banks. Now the exact same principles that were used in Cyprus are going to apply to all of Europe.
Italian pensioner hanged himself after his entire €100,000 savings were confiscated in a bank “rescue” scheme. He left a suicide note blaming the bank, where he had been a customer for 50 years and had invested in bank-issued bonds. EU is tightening the rules on bank rescues – they will force losses on depositors holding more than €100,000, as well as bank shareholders and bondholders.
In the next week, a potential ballot measure, submitted to the Office of the Attorney General in October, is expected to receive title and summary for the 2016 election, meaning its advocates will be able to collect signatures in order to secure its official place on the ballot. The proposed law would require legislators and candidates to sport the emblems of groups that donate money to their campaigns. Imagine a California Senator. wearing Chevron, Shell, and BP logos on his jacket.
Russian President Vladimir Putin has signed a law regulating legal protection of a foreign state and its property in the Russian Federation, The law for the first time sets the limits of immunity for foreign states and their property in the Russian Federation and defines cases when the state and its property do not enjoy jurisdictional immunity.
The wealthy have used their influence to steadily whittle away at the government’s ability to tax them," to create a private tax system, catering to only several thousand Americans. The income-shielding maneuvers, range from organizing one's business as a partnership to capitalizing on "a range of esoteric and customized tax deductions that go far beyond writing off a home office or dinner with a client," are largely unavailable to the average taxpayer, due to cost and complexity.
Turkish Prime Minister Ahmet Davutoglu: Ankara hopes to recover relations with Moscow after the aggravation following the incident with the Russian Su-24 bomber crash near the Syria-Turkey border; said Turkey did not know whose plane was crossing the border. Russian President Vladimir Putin said that the plane was downed by an air-to-air missile launched by a Turkish F-16 fighter.
Tax by mile will put a box in your car that will track your every movement and tax you for it. The state will know where you are at all times and will have the ability to ticket you every time you inch over the speed limit.
Deceptive financial practices. Cheating depositors. Citizens Bank was fined $18.5 million.Overcharging customers..Food contamination..Adulterated medication. Failure to report safety defects. Workplace hazards.False claims.. Wage Theft.
95 percent of all retail sales in Sweden are cashless; government of Denmark has a stated goal of “eradicating cash” by the year 2030. In Sweden, hundreds of bank branches no longer accept or dispense cash, thousands of ATM machines permanently removed. Parishioners text tithes to their churches. Homeless street vendors carry mobile credit-card readers. Bills and coins account for 2 percent of Swedish economy, many stores no longer take cash at all.
One in 10 Obamacare customers who earn between just two and five times the federal poverty level will have coverage costs that exceed 21 percent of their incomes. Median Obamacare customer spends more than 10 percent of their income on monthly premiums and out-of-pocket health expenses.
Central Bank of Russia has implemented stricter rules on cash exchanges in the country. The policy is expected to tackle money laundering and the bankrolling of terrorism. Authorities require clients to provide a full name, passport details, registration place, date of birth and tax reference number, if the transaction is bigger than 15,000 rubles ($212).
“What may slow down the exports is anti-dumping and protectionist measures that several countries have taken against cheap imports,”. “We’re going to see an impact. More and more countries are raising their objections.”In other words, a trade war.
For years, many homeless people have spent the night in airports. .People sleeping in airports has grown. . One individual, according to Bloomberg , has lived in LaGuardia for 20 years. Officials are now cracking down on that arrangement, .arrest violators..
President Vladimir Putin: “We can not only feed ourselves, Russia can become an important global supplier of healthy, organic and high-quality food, especially since the global demand for such products is showing a steady growth.” According to the International Federation of Organic Agriculture Movement (IFOAM), in 2000-2014 global organic food output grew almost five times from $18bn to $100 billion, year-on-year growth amounted to 10 to 12 per cent.;
There were no working organic farmers called to the table to participate in this discussion. Vilsack is a enthusiastic supporter of corn and soy-based biofuels, which use as much or more fossil fuel energy to produce them as they generate, while driving up world food prices under heavily government subsidized funding; promoted agricultural biotechnology, including pharma crops, plants genetically engineered to produce pharmaceuticals.
Initiative to strip private banks of their power to “create money” and make it exclusively a central bank privilege has gathered enough support for the Swiss government to announce a referendum on the issue. A vote in favor may result in a return to 100 percent reserve banking. “Banks won’t be able to create money for themselves anymore, they’ll only be able to lend money that they have from savers or other banks, or even, if necessary, money that the Swiss National Bank has provided them.”
It is critically important for Ukraine to get a third tranche from the International Monetary Fund under the revised cooperation program; Finance Minister Natalie Jareskol. "Getting the tranche is a prerequisite for a US loan of one billion dollars and pre-requisites for European loans."
Officials in Washington have argued the law, combined with new draft banking and insurance rules and a slew of anti-trust investigations, amounts to unfair regulatory pressure targeting foreign companies. China's national security law adopted in July requires all key network infrastructure and information systems to be "secure and controllable.
The US sold 35 percent more arms abroad, amounting to roughly $10 billion; last year,South Korea became the world's top firearms purchaser last year with contracts exceeding $7.7 billion. Recent years have witnessed a trend of developed countries supplying firearms to developing countries, representing some $61.8 billion in total purchases last year.
A class action lawsuit has been filed in Texas to prevent the State from reinstituting debtors’ prisons for people who are to poor to pay traffic fines and petty misdemeanors. This latest lawsuit is one of many lawsuits that have been filed all across America recently, as more and more judges are jailing citizens for failing to pay their fines..“Class C prosecutions in Austin Municipal Court trap people who are too poor to pay in an endless cycle of accumulating debt. The court burdens people who are too poor to pay with additional fees and logistical hurdles at every step of the process.
Bank of Russia said on Wednesday. "Low oil prices pose a risk to Russia and other exporter nations from the standpoint of the budget balance. According to the Bank of Russia, slowdown of China’s economy, the main consumer of this resource, will primarily affect oil prices.."Further growth of the Federal Reserve rate will be accompanied by US Dollar strengthening,
Hunger and homelessness are on the rise in major cities across the United States, largely due to low wages and a lack of affordable housing, according to a new report. The largest increase in homelessness was in Washington, DC, the nation’s capital, where the number of people experiencing homelessness rose by 28 percent and the number of homeless families went up by 60 percent. Requests for emergency food assistance in the city rose by 27 percent during the same period..
The Chinese-led Asian Infrastructure Investment Bank (AIIB) was formally established on Friday, and is expected to be operational by early next year, local media reported Friday. Authorities have said that the bank aims to provide financial facilities for a chain of development projects including the construction of dams, ports, power plants and telecommunications networks across Asia.
, Dalene Bowden was fired from her job last week as a food service worker at Irving Middle School in Pocatello, Idaho after she gave a hungry student with no money a free lunch. The total cost of the food was $1.70. Letter, signed by Susan Petit, Director of Human Resources of Pocatello School District 25, stated: “The reason of your termination is due to your theft-stealing [sic] school district or another’s property and inaccurate transactions when ordering, receiving, and serving food.” Never written up or reprimanded for her job performance. She did, however, receive a verbal warning for giving a student a free cookie. Bowden offered to pay for the $1.70 lunch but was rejected.
Russian intelligence has spotted up to 12,000 tankers and trucks on the Turkish-Iraqi border, the General Staff of Russia’s armed forces has reported, The Russian Air Force in Syria has destroyed about 2,000 tankers used by the Islamists for oil transportation. In the last week, Russian warplanes eliminated 17 convoys of oil tankers and a number of installations used by terrorists for oil extraction and processing.
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