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FINANCIAL

argentina

The streets of America will soon look like Argentina.

By TLB Contributor: Dave Hodges

If you have most of your money tied up in the bank, you are either the most generous person in the world, or you are a fool of monumental proportions. Have you invested in developing the means to defend your property and family’s lives? Do you have enough food and water stored up to survive at least two years? Nearly every publication estimates the derivatives debt to be in the range of one quadrillion dollars to $1.5 quadrillion dollars which is 16 times the entire value of the planet. The game is over and the world’s economy is in the midst of entering a state of economic free fall. And what is going to happen when that occurs? There are going to be too many mouths to feed. Citizens will soon come to be viewed as an economic liability by their respective governments. Historically, what do governments do when they can no longer feed their people? The reader will be able to answer this question by the conclusion of this article.

 Bank of America and the Death of the American Economy

If we want to know where the future will take us, we need to watch Bank of America. In an obscure, but well reported 2011 event, Bank of America announced it was shifting derivatives in its Merrill investment-banking unit to its depository arm, which has access to the Fed discount window and is protected by the FDIC. This was announced as a news blurb in the main stream media and was prominently reported in the Daily Bail.

This was the single biggest financial event in the history of America. It was bigger than the 1929 stock market crash and it was bigger than the beginning of the bail outs in 2008, but it did not received the banner headlines that it should have received. What does this mean? It means that the Bank of America’s European derivatives are now going to be “insured” by U.S. taxpayers and its two most important financial institutions, the Federal Reserve and the FDIC. What is even more distressing is that the Bank of America did not even seek or receive regulatory approval for this action. This action was simply acted upon on behalf of frightened counterparties. Under the Federal Bankruptcy Act of 2005, the counterparties derivatives debt receive “super priority” when it comes to the disbursement of FDIC insurance payments to failed banks. Where do the rest of us stand in terms of reimbursement for a failed bank? We are in last place. In short, when your bank fails, your money is gone and so will be your ability to obtain life-supporting resources unless you are already prepared.

Just how serious is the derivatives debt for the Bank of America? The Daily Bail reported that this was a “direct transfer of risk to the taxpayer done by the bank without approval by regulators and without public input . . . “  The estimated total of derivatives debt tied around the neck of Bank of America is a little under $80 trillion dollars and is growing exponentially because of the interest payments. And yet, there is another shocker, JP Morgan Chase is receiving the same undue government benefit with $79 trillion of its  national derivatives debt guaranteed by the FDIC and Federal Reserve. What this means for you and me is that when Europe finally implodes and banks fail, U.S. taxpayers will hold the bag for trillions in insurance derivatives contracts, labeled as credit default swaps (CDS) which were sold by Bank of America and JP Morgan. This is when you will lose all control over your money and ultimately your life, if you are not prepared ahead of time.When this happens, the poor are going to go looking for the rich. Subsequently, the rich are making their plans.

 Economic Experts Are Saying “Game Over”

John Embry of King World News recently stated that “This is an extraordinarily risky situation that the world faces as global stock markets begin to tumble.  When I look back at all my decades of being in the financial world, I can’t remember a single time when world markets have been more prone to total collapse than they are today.”

Economic expert Gregory Mannarino is talking about the hidden message that banks are sending which is to dump their currencies and get liquid as quickly as possible. This is why you need to get your money out of the bank, except to pay your monthly bills. The message to dump currencies is omnipresent. It is quite clear that Mannarino is expecting multiple currency collapses and a series of bank runs as he explains what to look for in the following video. There is coming a day when the public will chase the bankers down the street and hang them from the nearest light pole. In a future story I am working on, someone is already exacting judgment against banking executives with the “suicides” (i.e. executions) of several prominent bankers  who are not going to be allowed to enjoy the fruits of their thievery.

Do you remember Davos economist Robert Johnson? Johnson drew attention when stated that the wealthy elite are preparing bug out locations as a defense against global economic instability. Johnson further revealed that many of the elite warned are scared to death of “Ferguson” type of riots spurred by the tremendous wealth disparity between rich and poor in the United States. Johnson’s fears of economic riots, whose violence would be directed at the elite, is shared by economist Martin Armstrong, who, in 2014, predicted that widespread rioting would hit America by 2016 as a result of dire economic conditions.

Conclusion

Gerald Celente concurs with Mannarino, Embry, Johnson and Armstrong as the well-respected trend forecaster warns that, despite establishment false  claims of economic recovery and growth made by President Obama in his State of the Union Address, things are about to go from bad to worse. Celente isn’t predicting that a monumental economic collapse is going to happen at some future date, he boldly states that the collapse is already underway and is in the process of sweeping across the globe! Spain has passed laws outlawing protesting. In Greece, off-the-books goon squads “deal with” economic political dissenters. And here in America, we began to outlaw free speech and protesting with the creation of “free speech zones” in 2012, and outlawing protesting near speeches given by a politician. The latter is punishable by a sentence of up to a year in prison.  In other words, governments which are facing economic ruination, are preparing to “deal” with their people.

What does dealing with their people mean? Most of the global elite wholeheartedly believe in the sociological concept of “Malthusian Controls” which postulates that when the needs of a population exceeds the ability of that society to meet basic citizenry needs, bad things begin to happen such as famine, disease, war and genocide. Which will it be? Perhaps the readers can now understand why so much attention must be paid to events such as world war, a pandemic and the topic of FEMA camps. Can you now answer the question as to what governments do when they cannot meet the needs of its people?

Will it be this?

north pole warfare

Or will it be this?

 fema civilian detainees

Or … ???

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About the Author

Dave Hodges is the host of the popular radio talk show, which airs from 9 PM to Midnight (Central). The show can be heard by clicking the following icon in the upper right hand corner of The Common Sense Show.

© 2014. The Common Sense Show. The Logo and Articles are protected by U.S. Copyright Laws, and are not to be downloaded or reproduced in any way without the written permission of Dave Hodges. Copyright 2014. Dave Hodges. All Rights Reserved

TLB recommends you visit Dave here:

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See featured article and read comments HERE

 

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By: Melissa Melton

Who says you can’t buy politics?

Wait, that’s right, no one says that. Ever. Especially not in America where 91% of the time, the candidate with the most money (not who does the best job, who has the best policies or who even gives the most charismatic speeches) wins.

The New York Times is now reporting that the Koch Brothers plan to spend $889 million dollars on the next presidential election.

The political network overseen by the conservative billionaires Charles G. and David H. Koch plans to spend close to $900 million on the 2016 campaign, an unparalleled effort by coordinated outside groups to shape a presidential election that is already on track to be the most expensive in history.

The spending goal, revealed Monday at the Kochs’ annual winter donor retreat near Palm Springs, Calif., would allow their political organization to operate at the same financial scale as the Democratic and Republican Parties. It would require a significant financial commitment from the Kochs and roughly 300 other donors they have recruited over the years, and covers both the presidential and congressional races. In the last presidential election, the Republican National Committee and the party’s two congressional campaign committees spent a total of $657 million…

Now the Kochs’ network will embark on its largest drive ever to influence legislation and campaigns across the country, leveraging Republican control of Congress and the party’s dominance of state capitols to push for deregulation, tax cuts and smaller government. In 2012, the Kochs’ network spent just under $400 million, an astonishing sum at the time. The $889 million spending goal for 2016 would put it on track to spend nearly as much as the campaigns of each party’s presidential nominee. [emphasis added]

Nearly a billion dollars does a lot more for than merely “influence” anything! There are whole countries on this planet with GDPs smaller than a billion dollars.

The Koch Brothers puppets this year include Scott Walker, Ted Cruz, Rand Paul, Marco Rubio, and Mike Pence. A couple of those guys are mentioned here:

In the end, we all know they’re set to throw Jeb Bush and Hillary Clinton at us whether we like it or not, then use phony polls, more propaganda than your brain can scream at, and the tried and tested “well, it’s the lesser of two evils approach” to force us under the thumb of another fascist oligarch puppet controlled by the same megabanks and megacorporations as the last guy and the guy before him and the guy before him and… wash rinse repeat.

But let’s lie to ourselves and just keep pretending the rich people (who keep getting richer due to the record-setting and ever-widening wealth gap in our country) aren’t straight up buying federal elections. Let’s keep pretending our vote in the presidential election even matters at all.

Face it. We live in a country where billionaires like Bill Gates are buying and pushing vaccines and a hearty population control agenda, Warren Buffett is testing out multi-million dollar smart grid enslavement, George Soros buys pretty much everything including civil unrest by the millions, and Michael Bloomberg is buying gun control legislation.

Sure, the elite can bet on and essentially buy whatever they want, from horse races to presidential elections, but remind me again why we should consent to being governed by the elite’s tool of choice when it’s quite obvious (and has been for some time) our elections are a paid-for sham and we the American people have little say in the matter whether we vote or not?

Hey, I know! What would they do if NO ONE SHOWED UP? If we all turned out backs on the entire corrupt, phony system?

(Gee, there’s a thought…)

About the Author:

Melissa-Melton is a co-founder of TruthstreamMedia.com. She is an experienced researcher, graphic artist and investigative journalist with a passion for liberty and a dedication to truth. Her aim is to expose the New World Order for what it is — a prison for the human soul from which we must break free.

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TLB recommends you visit Truthstream Media for more pertinent articles and information.

See featured article and read comments HERE

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The creation of the term “Fossil Fuel” and it’s limited availability.                       The early deception in the oil industry for profit.

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Most preppers are just regular folks with a self-reliant mindset.

January 20, 2015 | By Daisy Luther

Over the past couple of years, here in America….Contaminated water caused a complete loss of municipal services in both Ohio and West Virginia, resulting in almost a million people vying for the stock in local stores. A freak confluence of storms caused a “Superstorm” that took out power to much of the Eastern Seaboard, including New York City and the coastal parts of New Jersey. Nearly a year later, some families were still without electricity to their homes.

Two winters in a row, a “polar vortex” caused horrifyingly low temperatures and paired with winter storms to make the mid-western US resemble the Artic Circle. A small town in Missouri was under siege twice in a few months due to a police shooting of a young black man, and the officer’s subsequent acquittal. Job loss and poverty is at an all-time high.

 A deadly virus that everyone thought would be relegated to the distant regions of Africa was diagnosed here in the US, not just once, but multiple times. Now, read that and try to tell me that disasters don’t happen.

Now, read that and try to tell me that disasters don’t happen.  Try to say that it’s impossible that they’d happen to you. If you say this, you’re deluding yourself because the reality is too unpleasant, and we both know it. If you’d like to continue deluding yourself, thank you for stopping by. Enjoy the articles about wholesome food, and pretend not to notice the articles that urge you to take responsibility for yourself and your family.

However, if you’re ready to accept this fact, read on. I’ll tell you how to get started in a way that isn’t overwhelming. No bunkers, no wearing of tinfoil, no filtering and drinking of pee, and no building of Arks will be mentioned. That stuff is all in Prepping 201. (Kidding!)

How to Get Started Prepping

When you begin reading websites about prepping, sometimes it can be overwhelming. You see people talking about their one-year food supplies, their bug-out lodges, their ammo collection, and their homestead that is so far out in the wilderness that they have to climb a big pine tree on top of the mountain to get an internet connection and boast online about their seclusion. Most preppers are just regular folks with a self-reliant mindset. I’m here to tell you, getting started does not require a $20,000 investment or your children feverishly packing beans and rice into Ziplock bags late into the night. There are 10 simple things you can do to get started. Lots of them are free and if you apply yourself, you can get started on all 10 steps in less than a week. All of the highlighted text is a link that will take you to related resources so you can learn more.

#1. Fill up a whole bunch of empty bottles with water.

If you haven’t taken out the recycling yet this week, don’t!  You can use those empty two liter soda pop bottles and gallon water bottles to stock up on a drinking water supply. Count on a gallon a day per human and pet. (Two 2-liter bottles are approximately a gallon). If you don’t have any containers you can fill, you can buy 5 gallon jugs of water at most grocery stores or Wal-mart.  Most of the time, you’ll pay well under $20 for a full jug of water. Five of those will keep a family of 4 in drinking water for just over a week, should it be required. Add to your supply each week, and soon you’ll have a month supply, quietly sitting there in your basement. Here’s aninfographic to get you started on safely storing water.

#2. Bookmark some websites.

The internet is a wonderful place, and best of all, this knowledge can be found for FREE! The more you know about crisis situations, the more ready you will be to face them. Some sites are friendlier to beginners than others, so if you stumble upon a forum where people seem less than enthusiastic about helping people who are just starting out, don’t let it get you down. Move on and find a site that makes you feel comfortable. Following are some of my favorites, and the link will take you to a good starting point on these sites. In no particular order:

#3. Take a look at your budget.

What? Budgets don’t sound very prepperly! But how do you expect to pay for all of those beans, bullets, and band-aids if you don’t make some adjustments to your spending and shopping habits?  Here are some suggestions on ways to put money aside for prepping, and here are some ideas on creating a budget, and most importantly, sticking to it.

 #4. Inventory your food supply, then start building your stockpile.

You probably have more food on hand than you realize you do. Before you go out and spend lots of money at the grocery store, it’s important to go through your cupboards, pull things out, and get organized. You don’t know what you need until you know what you have.  Be sure to put things away in an organized fashion so you can find what you need, when you need it. Now that you know what you have, you can fill in the holes. You can’t expect to have a 1-year food supply all at once. Here’s how I built a healthy food supply in 3 months, while on a pretty tight budget.  This will help you get the idea of how to build your stockpile. Resist the urge to stock up on nutritionally useless foods like Ramen noodles and macaroni and cheese. If there is a situation going on in which you must rely solely on your stockpile, you will want to be nourished, not just filled up. If you want to build a one-month food supply super-fast, here’s how to create it with a few clicks of the mouse.

#5. Have a drill.

The absolute best way to know what you need during an emergency is to simulate a crisis.  Get your family on board and spend a weekend without power and running water. Keep a list going for the entire weekend so that you can note what needs arose. (Leave the breakers on for the refrigerator and freezer – you don’t want to potentially have your food spoil.) Can you make coffee and food? Can you keep warm in the winter and cool in the summer? Can youkeep the kids entertained?

#6. Prep for a power outage.

With most disasters comes a power outage, just to up the challenge ante. Sometimes the power outages are the disaster all by themselves. Remember about 5 years ago when a freak ice storm knocked out the power in Arkansas and Missouri for over a month?You want to be ready for stuff like that. Be sure you have food that doesn’t require cooking, light sources (hint: think solar garden stakes), a way to stay warm or cool, and a way to salvage the food in your fridge and freezer.  Figure out a cooking method that doesn’t require electricity in the event that the outage lasts more than a few days. Be ready with games and non-power dependent activities to keep the kids (and by default, the parents) sane.

#7. Figure out how to use the bathroom if the toilet doesn’t flush.

In an all-out disaster that shuts down municipal water supplies, you may find yourself in a situation where the toilet won’t flush. At times like this, you’ll want to shut off the main to your house, because you could end up with other people’s waste backing up through the lines. A quick, inexpensive solution is to turn your toilet into a litter box for humans. Drain the water from the bowl, then line it with a very heavy contractor’s garbage bag. Place some kitty litter in the bottom of it. When someone uses the bathroom, they should put a new scoop of litter on top of their waste. It’s vital to make sure the bag doesn’t get too heavy to carry without ripping. Seal the full bags well, then store them outside until service resumes. If you must use other disposal methods, the safest way to get rid of it is to bury it far from water sources or gardens.

#8. Prep for an evacuation.

Now you need to pack a bug-out bag. If budget is a concern, use bags you already have along with supplies that you already have. The important thing is to have this stuff organized and be ready to go at a moment’s notice. Have a list of last minute items so that you know what you need. It’s better to think this through when you’re calm, not when the clock is ticking towards disaster. You’ll want things like personal documents, extra medication, comfort items for children, and survival supplies that could get you through 3 days away from home.  To take a look at the ultimate prepper’s bug out bag, look at this one from Graywolf Survival.

#9. Be prepared to defend your home and family.

It is an unfortunate but unavoidable truth that disasters bring out the worst in a lot of people. (Remember Ferguson? This wasn’t even a disaster, it was an unpopular verdict.)This truth is what turns a lot of people off from prepping. They can understand the need for having a few cans of food and some extra toilet paper, but they’re so immersed in cognitive dissonance that they can’t wrap their brains around the possibility of civil unrest. You do NOT want to be one of those families who bury their heads in the sand. You can have a 10-year supply of food, water, and medicine, but if you can’t defend it, you don’t own it. The article The Anatomy of a Breakdown explains the predictable patterns of social unrest. The best way to win a fight is to avoid getting into that fight in the first place. Secure your home and lay low, but be prepared if trouble comes to visitDon’t rely on 911. During widespread civil unrest, the cops are going to be busy and it’s unlikely that help will arrive. Have a safe room for vulnerable family members. Be armed and know how to use your weapon of choice. If you don’t know how to use your weapon, learning should be one of your top priorities. Here’s some advice from someone who knows a lot more about weapons than I do

#10. Build your resource library.

This is where some money could come into play. Most of the time, people in the preparedness world like to have hard copies of important information. This way, if the power goes out and you can’t access the internet or recharge your Kindle, you still have access to vital advice. Some of these books are for just such an event, while others are guides to building your self-reliance skills.

What are you waiting for?

If you’re new to this, there’s no better time to start than right this minute. Go through the list and do the free things first. Do all of the plotting and planning second, and then put your plans into action as your budget allows. Whatever you do, stop waiting around.  Disasters won’t wait until it’s a convenient time for you. If you a seasoned prepper, please share your inexpensive start-up ideas for newbie preppers in the comments below. If you have friends and loved ones you’d like to help get started, send them this article. It’s loaded with budget-friendly links to start them on their journey. Help encourage people to join our community of self-reliance!


Daisy Luther is a freelance writer and editor who lives in a small village in the Pacific Northwestern area of the United States. She is the author of The Pantry Primer: How to Build a One Year Food Supply in Three Months. On her website, The Organic Prepper, Daisy writes about healthy prepping, homesteading adventures, and the pursuit of liberty and food freedom. Daisy is a co-founder of the website Nutritional Anarchy, which focuses on resistance through food self-sufficiency. Daisy’s articles are widely republished throughout alternative media. You can follow her on Facebook,Pinterest, and Twitter, and you can email her atdaisy@theorganicprepper.ca

The Liberty Beacon Recommends that your read additional great/pertinent articles at: http://www.thesleuthjournal.com/

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By Michael Snyder, on January 18th, 2015

During his State of the Union speech on Tuesday evening, Barack Obama is going to promise to make life better for middle class families.  Of course he has also promised to do this during all of his other State of the Union addresses, but apparently he still believes that there are people out there that are buying what he is selling.  Each January, he gets up there and tells us how the economy is “turning around” and to believe that much brighter days are right around the corner.  And yet things just continue to get even worse for the middle class.  The numbers that you are about to see will not be included in Obama’s State of the Union speech.  They don’t fit the “narrative” that Obama is trying to sell to the American people.  But all of these statistics are accurate.  They paint a picture of a middle class that is dying.  Yes, the decline of the U.S. middle class is a phenomenon that has been playing out for decades.  But without a doubt, our troubles have accelerated during the Obama years.  When it comes to economics, he is completely and utterly clueless, and the policies that he has implemented are eating away at the foundations of our economy like a cancer.  The following are 27 facts that show how the middle class has fared under 6 years of Barack Obama…

#1 American families in the middle 20 percent of the income scale now earn less money than they did on the day when Barack Obama first entered the White House.

#2 American families in the middle 20 percent of the income scale have a lower net worth than they did on the day when Barack Obama first entered the White House.

#3 According to a Washington Post article published just a few days ago, more than 50 percent of the children in U.S. public schools now come from low income homes.  This is the first time that this has happened in at least 50 years.

#4 According to a Census Bureau report that was recently released, 65 percent of all children in the United States are living in a home that receives some form of aid from the federal government.

#5 In 2008, the total number of business closures exceeded the total number of businesses being created for the first time ever, and that has continued to happen every single year since then.

#6 In 2008, 53 percent of all Americans considered themselves to be “middle class”.  But by 2014, only 44 percent of all Americans still considered themselves to be “middle class”.

#7 In 2008, 25 percent of all Americans in the 18 to 29-year-old age bracket considered themselves to be “lower class”.  But in 2014, an astounding 49 percent of all Americans in that age range considered themselves to be “lower class”.

#8 Traditionally, owning a home has been one of the key indicators that you belong to the middle class.  So what does the fact that the rate of homeownership in America has been falling for seven years in a row say about the Obama years?

#9 According to a survey that was conducted last year, 52 percent of all Americans cannot even afford the house that they are living in right now.

#10 After accounting for inflation, median household income in the United States is 8 percent lower than it was when the last recession started in 2007.

#11 According to one recent survey, 62 percent of all Americans are currently living paycheck to paycheck.

#12 At this point, one out of every three adults in the United States has an unpaid debt that is “in collections“.

#13 When Barack Obama first set foot in the Oval Office, 60.6 percent of all working age Americans had a job.  Today, that number is sitting at only 59.2 percent…

Employment Population Ratio 2015

#14 While Barack Obama has been in the White House, the average duration of unemployment in the United States has risen from 19.8 weeks to 32.8 weeks.

#15 It is hard to believe, but an astounding 53 percent of all American workers make less than $30,000 a year.

#16 At the end of Barack Obama’s first year in office, our yearly trade deficit with China was 226 billion dollars.  Last year, it was more than 314 billion dollars.

#17 When Barack Obama was first elected, the U.S. debt to GDP ratio was under 70 percent.  Today, it is over 101 percent.

#18 The U.S. national debt is on pace to approximately double during the eight years of the Obama administration.  In other words, under Barack Obama the U.S. government will accumulate about as much debt as it did under all of the other presidents in U.S. history combined.

#19 According to the New York Times, the “typical American household” is now worth 36 percent less than it was worth a decade ago.

#20 The poverty rate in the United States has been at 15 percent or above for 3 consecutive years.  This is the first time that has happened since 1965.

#21 From 2009 through 2013, the U.S. government spent a whopping 3.7 trillion dollars on welfare programs.

#22 While Barack Obama has been in the White House, the number of Americans on food stamps has gone from 32 million to 46 million.

#23 Ten years ago, the number of women in the U.S. that had full-time jobs outnumbered the number of women in the U.S. on food stamps by more than a 2 to 1 margin.  But now the number of women in the U.S. on food stamps actually exceeds the number of women that have full-time jobs.

#24 One recent survey discovered that about 22 percent of all Americans have had to turn to a church food panty for assistance.

#25 An astounding 45 percent of all African-American children in the United States live in areas of “concentrated poverty”.

#26 40.9 percent of all children in the United States that are living with only one parent are living in poverty.

#27 According to a report that was released late last year by the National Center on Family Homelessness, the number of homeless children in the United States has reached a new all-time record high of 2.5 million.

Unfortunately, this is just the beginning.

The incredibly foolish decisions that have been made by Obama, Congress and the Federal Reserve have brought us right to the precipice of another major financial crisis and another crippling economic downturn.

So as bad as the numbers that I just shared with you above are, the truth is that they are nothing compared to what is coming.

We are heading into the greatest economic crisis that any of us have ever seen, and it is going to shock the world.

I hope that you are getting ready.

Original Article Here

TLB recommends you visit The Economic Collapse for more great/pertinent articles.

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By Michael Snyder

If you were waiting for a “black swan event” to come along and devastate the global economy, you don’t have to wait any longer.  As I write this, the price of U.S. oil is sitting at $45.76 a barrel.  It has fallen by more than 60 dollars a barrel since June.  There is only one other time in history when we have seen anything like this happen before.  That was in 2008, just prior to the worst financial crisis since the Great Depression.  But following the financial crisis of 2008, the price of oil rebounded fairly rapidly.  As you will see below, there are very strong reasons to believe that it will not happen this time.  And the longer the price of oil stays this low, the worse our problems are going to get.  At a price of less than $50 a barrel, it is just a matter of time before we see a huge wave of energy company bankruptcies, massive job losses, a junk bond crash followed by a stock market crash, and a crisis in commodity derivatives unlike anything that we have ever seen before.  So let’s hope that a very unlikely miracle happens and the price of oil rebounds substantially in the months ahead.  Because if not, the price of oil is going to absolutely rip the global economy to shreds.

What amazes me is that there are still many economic “experts” in the mainstream media that are proclaiming that the collapse in the price of oil is going to be a good thing for the U.S. economy.

The only precedent that we can compare the current crash to is the oil price collapse of 2008.  You can see both crashes on the chart below…

Price Of Oil Since 2006

If rapidly falling oil prices are good economic news, that collapse should have pushed the U.S. economy into overdrive.

But that didn’t happen, did it?  Instead, we plunged into the deepest recession that we have seen since the Great Depression.

And unless there is a miracle rebound in the price of oil now, we are going to experience something similar this time.

Already, we are seeing oil rigs shut down at a staggering pace.  The following is from Bloomberg

U.S. oil drillers laid down the most rigs in the fourth quarter since 2009. And things are about to get much worse.

The rig count fell by 93 in the three months through Dec. 26, and lost another 17 last week, Baker Hughes Inc. data show. About 200 more will be idled over the next quarter as U.S. oil explorers make good on their promises to curb spending, according to Moody’s Corp.

But that was just the beginning of the carnage.  61 more oil rigs shut down last week alone, and hundreds more are being projected to shut down in the months ahead.

For those that cannot connect the dots, that is going to translate into the loss of large numbers of good paying jobs.  Just check out what is happening in Texas

A few days ago, Helmerich & Payne, announced that it would idle 50 more drilling rigs in February, after having already idled 11 rigs. Each rig accounts for about 100 jobs. This will cut its shale drilling activities by 20%. The other two large drillers, Nabors Industries and Patterson-UTI Energy are on a similar program. All three combined are “likely to cut approximately 15,000 jobs out of the 50,000 people they currently employ,” said Oilpro Managing Director Joseph Triepke.

Unfortunately, this crisis will not just be localized to states such as Texas.  There are tens of thousands of small and mid-size firms that will be affected.  The following is from a recent CNBC report

More than 20,000 small and midsize firms drive the “hydrocarbon revolution” in the U.S. that has helped the oil and gas industry thrive in recent years, and they produce more than 75 percent of the nation’s oil and gas output, according to the Manhattan Institute for Policy Research’s February 2014 Power & Growth Initiative Report. The Manhattan Institute is a conservative think tank in New York City.

A sustained decline in prices could lead to layoffs at these firms, say experts. “The energy industry has been one of the job-growth areas leading us out of the recession,” said Chad Mabry, a Houston-based analyst in the energy and natural resources research department of boutique investment bank MLV & Co. in New York City. “In 2015, that changes in this price environment,” he said. “We’re probably going to see some job losses on a fairy significant scale if this keeps up.”

If the price of oil makes a major comeback, the carnage will ultimately not be that bad.

But if it stays at this level or keeps going down for an extended period of time, it is inevitable that a whole bunch of those firms will go bankrupt and their debt will go bad.

That would mean a junk bond crash unlike anything that Wall Street has ever experienced.

And as I have written about previously, a stock market crash almost always follows a junk bond crash.

These are things that happened during the last financial crisis and that are repeating again right in front of our eyes.

Another thing that happened in 2008 that is happening again is a crash in industrial commodity prices.

At this point, industrial commodity prices have hit a 12 year low.  I am talking about industrial commodities such as copper, iron ore, steel and aluminum.  This is a huge sign that global economic activity is slowing down and that big trouble is on the way.

So what is driving this?  The following excerpt from a recent Zero Hedge article gives us a clue…

Globally there are over $9 trillion worth of borrowed US Dollars in the financial system. When you borrow in US Dollars, you are effectively SHORTING the US Dollar.

Which means that when the US Dollar rallies, your returns implode regardless of where you invested the borrowed money (another currency, stocks, oil, infrastructure projects, derivatives).

Take a look at commodities. Globally, there are over $22 TRILLION worth of derivatives trades involving commodities. ALL of these were at risk of blowing up if the US Dollar rallied.

Unfortunately, starting in mid-2014, it did in a big way.

This move in the US Dollar imploded those derivatives trades. If you want an explanation for why commodities are crashing (aside from the fact the global economy is slowing) this is it.

Once again, much of this could be avoided if the price of oil starts going back up substantially.

Unfortunately, that does not appear likely.  In fact, many of the big banks are projecting that it could go even lower

Goldman Sachs, CitiGroup, Societe General and Commerzbank are among the latest investment banks to reduce crude oil price estimates, and without production cuts, there appears to be more room for lower prices.

“We’re going to keep on going lower,” says industry analyst Brian Milne of energy manager Schneider Electric. “Even with fresher new lows, there’s still more downside.”

OPEC could stabilize global oil prices with a single announcement, but so far OPEC has refused to do this.  Many believe that the OPEC countries actually want the price of oil to fall for competitive reasons…

Representatives of Saudi Arabia, the United Arab Emirates and Kuwait stressed a dozen times in the past six weeks that the group won’t curb output to halt the biggest drop in crude since 2008. Qatar’s estimate for the global oversupply is among the biggest of any producing country. These countries actually want — and are achieving — further price declines as part of an attempt to hasten cutbacks by U.S. shale drillers, according to Barclays Plc and Commerzbank AG.

The oil producing countries in the Middle East seem to be settling in for the long haul.  In fact, one prominent Saudi prince made headlines all over the world this week when he said that “I’m sure we’re never going to see $100 anymore.”

Never is a very strong word.

Could there be such a massive worldwide oil glut going on right now that the price of oil will never get that high again?

Well, without a doubt there is a huge amount of unsold oil floating around out there at the moment.

It has gotten so bad that some big trading companies are actually hiring supertankers to store large quantities of unsold crude oil at sea…

Some of the world’s largest oil traders have this week hired supertankers to store crude at sea, marking a milestone in the build-up of the global glut.

Trading firms including Vitol, Trafiguraand energy major Shell have all booked crude tankers for up to 12 months, freight brokers and shipping sources told Reuters.

They said the flurry of long-term bookings was unusual and suggested traders could use the vessels to store excess crude at sea until prices rebound, repeating a popular 2009 trading gambit when prices last crashed.

The fundamentals for the price of oil are so much worse than they were back in 2008.

We could potentially be looking at sub-$50 oil for an extended period of time.

If that is indeed the case, there will be catastrophic damage to the global economy and to the global financial system.

So hold on to your hats, because it looks like we are going to be in for quite a bumpy ride in 2015.

Read article here: http://theeconomiccollapseblog.com/archives/boom-goes-dynamite-crashing-price-oil-going-rip-global-economy-shreds

TLB recommends you visit The Economic Collapse for more great/pertinent articles.

IRS-Print-Press-Letters

by: Jonathan Benson

(NaturalNews) It is documented fact that the private vaccine industry receives large cash payments from the federal government to produce “life-saving” and “emergency” vaccines that the public is told are necessary to thwart certain disease crises. But did you know that many of these vaccines are never even manufactured, and not only are vaccine companies paid with your money (if you’re a taxpayer) regardless, but they are also awarded special accounting privileges that claim these payments as revenue?

During a recent segment on The Robert Scott Bell Show, certified public accountant (CPA) Ty Bollinger explains how many childhood vaccines, as well as the influenza vaccine, are basically exempted from normal revenue recognition rules. These special rules allow vaccine companies to immediately recognize revenue from vaccines for stock price and profit purposes, even if those vaccines are never manufactured or delivered.

“We’re living in a fascist state where the corporations control the government,” stated Bollinger during the segment. “In ASU [Accounting Standards Update] 2009-07, in section 99-1, there’s an interpretive release… it’s guidance regarding the accounting for sales of vaccine and bio-terror countermeasures to the federal government, or being placed into a pediatric vaccine stockpile.”

“The primary objective in purchasing the vaccines… is not to take delivery but rather to be able to require delivery on a moment’s notice. The hope of both parties to these contracts is that the vaccines will never be needed, and thus never delivered.”

Vaccine companies paid to produce vaccines they never end up producing, and are then allowed to report this free money as “revenue” to the IRS

What does this mean for vaccine manufacturers? It means that they can document payments from the federal government in their accounting books as revenue, even if the government never calls upon them to produce the vaccines for which they are paid. No other industry is allowed to flout the standard accounting rules in this way, except for Big Pharma.

“So these vaccine manufacturers are entering into contracts with the government, and being paid for vaccines that they do not manufacture,” explains Bollinger. “The government is contracting with them and paying them under the auspice that they will be able to manufacture them on a moment’s notice if they are ever needed. … They are being paid for something that they might never, and will likely never, have to produce.”

The two legal requirements for revenue to be recognized is that it be both realized and earned. And in order to accomplish this, delivery of the product for which revenue was earned must occur. But for vaccine companies, the government has determined that special exemptions will apply that allow them to boost their stock prices while earning more than 100 percent profit on vaccines that they never even manufactured.

“‘Since you’re Big Pharma, we are going to give you an exemption that only applies to you … [and] the commissioner is not going to object to you recognizing revenue, even if you don’t manufacture them and don’t deliver them, as long as it’s one of these certain types of vaccines,’” added Bollinger about the government’s approach. “Well, childhood vaccines, influenza vaccines, and then any other vaccine and countermeasure sold to the federal government [is covered] … So basically every vaccine is exempt.”

“Vaccine manufacturers can make money, they can report it on their financial statements, and they can bump their share price up for vaccines that they have never made and never delivered.”

You can listen to the full segment with Ty Bollinger on The Robert Scott Bell Show here:
YouTube.com.

Read article here: http://www.naturalnews.com/048254_vaccine_companies_IRS_accounting_rules.html

TLB recommends you visit Natural News for more great/pertinent articles.

460X300 Criag Article

 If you want faked “good news,” you need to retreat into The Matrix.

 

Article by: Paul Craig Roberts

On occasion a reader will ask if I can give readers some good news. The answer is: not unless I lie to you like “your” government and the mainstream media do. If you want faked “good news,” you need to retreat into The Matrix. In exchange for less stress and worry, you will be led unknowingly into financial ruin and nuclear armageddon.

If you want to be forewarned, and possibly prepared, for what “your” government is bringing you, and have some small chance of redirecting the course of events, read and support this site. It is your site. I already know these things. I write for you.

The neoconservatives, a small group of warmongers strongly allied with the military/industrial complex and Israel, gave us Granada and the Contras affair in Nicaragua. President Reagan fired them, and they were prosecuted, but subsequently pardoned by Reagan’s successor, George H.W. Bush.

Ensconced in think tanks and protected by Israeli and military/security complex money, the neoconservatives reemerged in the Clinton administration and engineered the breakup of Yugoslavia, the war against Serbia, and the expansion of NATO to Russia’s borders.

Neoconservatives dominated the George W. Bush regime. They controlled the Pentagon, the National Security Council, the Office of the Vice President, and much else. Neoconservatives gave us 9/11 and its coverup, the invasions of Afghanistan and Iraq, the beginning of the destabilizations of Pakistan and Yemen, the U.S. Africa Command, the invasion of South Ossetia by Georgia, the demise of the anti-ABM Treaty, unconstitutional and illegal spying on American citizens without warrants, loss of constitutional protections, torture, and the unaccountability of the executive branch to law, Congress, and the judiciary. In short, the neoconservatives laid the foundation for dictatorship and for WW III.

The Obama regime held no one accountable for the crimes of the Bush regime, thus creating the precedent that the executive branch is above the law. Instead, the Obama regime prosecuted whistleblowers who told the truth about government crimes.

Neoconservatives remain very influential in the Obama regime. As examples, Obama appointed neoconservative Susan Rice as his National Security Advisor. Obama appointed neoconservative Samantha Power as U.S. Ambassador to the United Nations. Obama appointed neoconservative Victoria Nuland as Assistant Secretary of State. Nuland’s office, working with the CIA and Washington-financed NGOs, organized the U.S. coup in Ukraine.

Neoconservatism is the only extant political ideology. The ideology is “America uber alles.” Neoconservatives believe that History has chosen the United States to exercise hegemony over the world, thereby making the U.S. “exceptional” and “indispensable.” Obama himself has declared as much. This ideology gives neoconservatives tremendous confidence and drive, just as Karl Marx’s conclusion that history had chosen the workers to be the ruling class gave early communists confidence and drive.

This confidence and drive makes the neoconservatives reckless.

To advance their agenda neoconservatives propagandize the populations of the U.S. and Washington’s vassal states. The presstitutes deliver the neoconservatives’ lies to the unsuspecting public: Russia has invaded and annexed Ukrainian provinces; Putin intends to reconstitute the Soviet Empire; Russia is a gangster state without democracy; Russia is a threat to the Baltics, Poland, and all of Europe, necessitating a U.S./NATO military buildup on Russia’s borders; China, a Russian ally, must be militarily contained with new U.S. naval and air bases surrounding China and controlling Chinese sea lanes.

The neoconservatives and President Obama have made it completely clear that the U.S. will not accept Russia and China as sovereign countries with economic and foreign policies independent of the interests of Washington. Russia and China are acceptable only as vassal states, like the UK, Europe, Japan, Canada, and Australia.

Clearly, the neoconservative formula is a formula for the final war.

All of humanity is endangered by a handful of evil men and women ensconced in positions of power in Washington.

Anti-Russia propaganda has gone into high gear. Putin is the “new Hitler.” Daniel Zubov reports on a joint conference held by three U.S. think tanks. The conference blamed Russia for the failures of Washington’s foreign policy.

Read this article:

http://sputniknews.com/columnists/20141205/1015538604.html to see how neoconservatives operate in order to control the explanations. Even Henry Kissinger is under attack for stating the obvious truth that Russia has a legitimate interest in Ukraine, a land long part of Russia and located in Russia’s legitimate sphere of influence.

Since the Clinton regime, Washington has been acting against Russian interests. In his forthcoming book, The Globalization of War: America’s Long War against Humanity, Professor Michel Chossudovsky presents a realistic appraisal of how close Washington has brought the world to its demise in nuclear war. This passage is from the Preface:

“The ‘globalization of war’ is a hegemonic project. Major military and covert intelligence operations are being undertaken simultaneously in the Middle East, Eastern Europe, sub-Saharan Africa, Central Asia and the Far East. The US military agenda combines both major theater operations as well as covert actions geared towards destabilizing sovereign states.

“Under a global military agenda, the actions undertaken by the Western military alliance (US-NATO-Israel) in Afghanistan, Pakistan, Palestine, Ukraine, Syria and Iraq are coordinated at the highest levels of the military hierarchy. We are not dealing with piecemeal military and intelligence operations. The July-August 2014 attack on Gaza by Israeli forces was undertaken in close consultation with the United States and NATO. In turn, the actions in Ukraine and their timing coincided with the onslaught of the attack on Gaza.

“In turn, military undertakings are closely coordinated with a process of economic warfare which consists not only in imposing sanctions on sovereign countries but also in deliberate acts of destabilization of financial and currency markets, with a view to undermining the enemies’ national economies.

“The United States and its allies have launched a military adventure which threatens the future of humanity. As we go to press, US and NATO forces have been deployed in Eastern Europe. US military intervention under a humanitarian mandate is proceeding in sub-Saharan Africa. The US and its allies are threatening China under President Obama’s ‘Pivot to Asia’.

“In turn, military maneuvers are being conducted at Russia’s doorstep which could lead to escalation.

“The US airstrikes initiated in September 2014 directed against Iraq and Syria under the pretext of going after the Islamic State are part of a scenario of military escalation extending from North Africa and the Eastern Mediterranean to Central and South Asia. The Western military alliance is in an advanced state of readiness.

“And so is Russia.”

As I have often remarked, Americans are an insouciant people. They are simply unaware. Suppose they were aware, suppose that the entire population understood the peril, could anything be done, or have the insouciant Americans fallen under the control of the police state that Washington has created?

I don’t think there is much hope from the American people. The American people cannot tell genuine from fake leadership, and the ruling private elites will not permit real leaders to emerge. Moreover, there is no organized movement in opposition to the neoconservatives.

The hope comes from outside the political system. The hope is that the House of Cards and rigged markets erected by policymakers for the benefit of the One Percent collapses. David Stockman regards this outcome as a highly likely one. The collapse that Stockman sees as being on its way is the same collapse about which I have warned. Moreover, the number of Black Swans which can originate collapse are even more numerous than the ones Stockman correctly identifies. Some financial organizations are worried about a lack of liquidity in the fixed income (bonds) and derivatives markets. Barbara Novack, co-chair of Black Rock, is lobbying hard for a derivatives bailout mechanism.

David Stockman’s article is important. Read it until you understand it, and you will know more than most everyone.
http://www.lewrockwell.com/2014/12/david-stockman/duck-and-cover%E2%80%A8/

Many will ask: If the wealth of the One Percent is vulnerable to economic collapse, will war be initiated to protect this wealth and to blame the Russians or Chinese for the hardships that engulf the American population? My answer is that the kind of collapse that I expect, and that David Stockman and no doubt others expect, presents government with such social, political, and economic insecurity that organizing for a major war becomes impossible.

Whereas the political impotence of the American people and the vassalage of the Western World impose no constraints on Washington, economic collapse brings revolutions and the demise of the existing order.

As hard as collapse would make it for people to survive, the chances for survival are higher than in the event of nuclear war.

Dr. Paul Craig Roberts was Assistant Secretary of the Treasury for Economic Policy and associate editor of the Wall Street Journal. He was columnist for Business Week, Scripps Howard News Service, and Creators Syndicate. He has had many university appointments. His internet columns have attracted a worldwide following. Roberts’ latest books areThe Failure of Laissez Faire Capitalism and Economic Dissolution of the West and How America Was Lost.

OPEC 5

By TLB Contributor: Ken LaRive

The year 1983 is still remembered here in Louisiana. It was the year that Saudi opened the oil valves of OPEC, flooding the world with cheap oil. Our President Reagan used that well-orchestrated opportunity to send the USSR economy into a tailspin, who struggled with totalitarian communism that ended in a total collective default. In the middle of their own Vietnam in Afghanistan, trying to secure a pipeline there, and up to their necks in debt trying to keep up in an escalating cold war, the combination was lethal… and as they collectively defaulted on their dept to our Western Banks, their country, along with a bound social system, disintegrated…

 

American Free Press Photoshop by Ken LaRive

 

In the middle of that well-orchestrated process, our American Oilfields were devastated. Here in Lafayette, Louisiana, seven out of nine local banks went belly up, and it took six years to get back a little over 50 percent. With that year as a benchmark, we never have… And the dreams to become energy independent, also disintegrated…

The sword slices Russia…

The USSR, is not the Russia of today…

All of a sudden, seemingly out of the blue, but planned for decades, the banking cartels and the MIC, (military industrial complex), war corporations and bankers are now promoting another economic cold war with Russia, and OPEC/Saudi seems to be stepping up to again destroy Russia. Why, and how?

And ISIS, the perfect distraction, an enemy unheard of just a few months ago, is driving around in US Humvees and flashing brand new weapons seemingly made for our military, and the complexity and convoluted truth of this matter leaves the American Spirit fearful, and confused… But profits are escalating, and the military industrial complex gun-running is staying busy fighting another faceless enemy, supplying both sides…. And in the middle of this new Banker orchestration, Mr. Putin is warning them to release their strangle hold on his country with threats of another European War… And as the Russian Economy sinks, and the Ukraine just can’t make up its mind who to pay tribute to, opportunity is rifle… and as the Carpet Baggar laughs, another resounding milestone goes virtually unnoticed by the common people… that we are now well over 18 trillion in debt.

And some of us are tired of fear, and of being a sacrificial lamb for a One Word Government… we want our country back.

And the sword slashes …

Today, the American Oilfield is facing another devastating blow as Saudi is again flooding the market with oil, sending prices below 50US. Too cheep to drill, the layoffs in the oil-patch are beginning in earnest. Amazingly, we were posed for another boom by speculators just last year, not only to become energy independent, but with our new (so called) American technology in Fracking, we now have a 100 year surplus of that product. The transition from oil to gas promises to usher in a new age of clean and abundant fuel. It could be a long standing and viable economic boom for America, but the valves are open, and instead of managing the flow, they are attempting to destroy both America and Russia, for profit.

And the sword slashes…

This year, in 2015, for the first time in 45 years… where an LNG terminal in Alaska supply’s Japan with LNG, we will be exporting natural gas all around the world from a terminal that costs billions to build, right here in Louisiana. So amazingly viable, they are widening the Panama Canal to accommodate the new giant LNG transport ships, with unlimited financing from around the world, and have in-hand signed contracts that blue-lines that industry for years to come. A second project has recently been approved to build, and that will double the previous export opportunities of Cheniere Energy, the first one up and running this very year…

Slash!

As it seems most everything in this world, especially when it is about power, control, and fear that oils that great war machine… the world is not the same as 1983. There are new names, new enemies, but the controlling power is the same… Similarly, we were just about to become energy independent again, here in America, and our previous suppliers, who have made trillions… do not want to see western dependence end. We must look closely at why we are being force-fed low-quality oil from Canada with the attempt to take up the slack, carving up our country with another pipeline? They want to send that oil to our own Cancer Ally to refine, because they have the pressure of environmentalist to contend with, same as those who do not want the pipeline here. Think about that for just a moment! Is it the environment, or is it some company’s bottom line? I’ll bet that it is a profit margin every time…And though it is promoted by media to be American oil, North America is not the United States of America. It is a ruse… When we say “Drill here. Drill now!” we are not talking about Canada, Mexico, or the dying Venezuela, but the United States of America. That sir, is energy independence… And as I am a Libertarian, I say, America First. Put America first. Drill in the United States of America!

Slash!

OPEC/Saudi does not like Russia because they are considered competition, along with all BLOC countries. Just a few years ago the Jewish Communist Oligarch that had the country by the throat since the Bolshevik Revolution, was disbanded, and a new Capitalistic government has emerged from the ciaos of rogue power structures that some have called Mafia, and fortunately, however, out of the fray, both civil liberties and Christianity is on the rise, just as ours are dissolving. Orthodox Christianity, in Russia, is vying to become the national religion, and though Mr. Putin is reluctant to accept this ideology of Church State, he has come forward with a public statement that he considers himself a Christian. This has caused a national furor, a new love of country, where just sixty years ago all religions were dismantled or went underground. The horrors of the Bolshevik Revolution is still remembered, and they do not want that to return.

Indeed, OPEC/Saudi, the country where our new President bowed to their Murderous Oil Prince, has a great manipulative power over our Congress, and together with AIPAC, now controls our country from the inside out… Our Congress is the best money can buy, and it seems evident that they do not care one iota for our civil liberties, our economy, our constitution, our sovereignty, our natural God-given rights, and are bought and paid to promote their corporate sponsors. They are traitors… And they should be fired. Term limits would help, but only an informed populous could have any hope in achieving that lofty ideal… Individual responsibility seeks truth, and both are in short supply.

Author’s Note: Yesterday I picked up my new Christmas shotgun at my local shooting range. Parked in front I saw several State Police cars with one that had SUPERVISORprinted on the door in silver letters. On my way out I noticed him looking at some leather holsters, and with a spur-of-the-moment decision walked up to him, trying to project calmness… “Sir,” I said, “may I ask you a question?” I tried to smile.

“Sure.” he said, and he looked at me right in the eyes.

“Well, I know this is out of the blue, but I’d like to ask you if you are an Oath Keeper.”

His mind clicked, and I could see the wheels turning…”Yes, yes I am sir, and why do you ask?”

I could feel the blood moving to my face, with a lump in my throat too, just like the thirty other times I have done this…“Well, you took an oath to protect the Constitution of the United States of America from all enemies both domestic and foreign.” I said, “Do you read the Constitution?”

“Yes I do read the Constitution, and yes I take my oath very seriously.”

I put my hand out to him, and he took it with a strong grip, and I said “Thank you for your service…” And for just a moment more we held eye contact, and what I saw there gave me hope, and a love too, for my country and this fine young man who is on the front lines. And as I turned and walked out, I heard him say:

“Thanks for asking.”

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Shocking Information on the Death of what you used to call America, and the Birth of a New World Order.

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