The Israel Deception

Is the return of Israel in the 20th century truly a work of God, or is it a result of a cosmic chess move to deceive the elect by the adversary?

Showing posts with label default. Show all posts
Showing posts with label default. Show all posts

Wednesday, June 15, 2016

Au contraire Virginia, Congress can evoke bailouts during any financial crisis

In the aftermath of a negative public reaction to the bailing out of banks with taxpayer money following the 2008 Credit Crisis, Congress passed a law in which future crises in the financial system would be settled using the bank’s own customer accounts in what would become known as a bail-in procedure.
Yet on June 13, the possibility of a taxpayer bailout of a financial institution or sovereign government came back to the forefront as the Supreme Court ruled today that the territory of Puerto Rico does not have the authority to default on their debts, and only Congress has the power to legislate bailouts to aid or satisfy the obligations.
BAILOUT
Read more on this article here...

Wednesday, April 20, 2016

Corporations defaulting on debt at levels not seen since the Great Recession

By now every real investor knows that stock markets are rigged not on fundamentals and technicals, but on Federal Reserve and ESF interventions.  And no greater example of this can be evidenced when Goldman Sachs, who reported a decline of 55% in last quarter earnings, saw their stock go up during today’s trading.
But underlying it all is a growing plague of debt and margin calls, and since the beginning of the year, 46 corporations have defaulted on their debt, which is the highest level seen since 2009, and the beginning of the Great Recession.
Read more on this article here...

Thursday, January 21, 2016

Former Chief economist for the BIS says economy is now worse than in 2007

For more than two years, economists in the alternative media have been warning of a coming economic meltdown that would be worse than the Credit Crisis of 2008 simply because the debts are much bigger, and the underlying problems that led to that crisis have never been addressed.  And now in early 2016, more and more mainstream analysts are jumping onto this bandwagon, with the former Chief Economist for the Bank of International Settlements (BIS) stating on Jan. 20 that the economy is now worse than it was in 2007.
The BIS is known as the central bank of central banks, and plays a key role in facilitating global currency exchanges between nations and economies.  And what gives economist William White credibility in his current assessment of the global economy is the fact that he forecasted and warned of the 2008 economic collapse that led to the death of Lehman Brothers and Bear Stearns.

Read more on this article here...

Tuesday, July 7, 2015

The Greek fallacy: Global system needs to cut everyone’s debt, not just Greece’s

Projection.  It is one of the most common forms of ignoring one’s own issues and problems by making public these same things in someone else.  And for months now the European Union has been projecting Greek debt as the singular monetary problem to the world, when in fact almost every one of the European economies are in the same state of affairs, and under the bondage of massive debt obligations.
At the point of the spear for Europe against Greece is the continent’s largest economy and monetary force, and antagonist for wanting to indenture or enslave the Greek people in their future.  That country is of course Germany, who ironically became the Union’s greatest financial power not simply through hard work and frugal spending, but by the very same thing that Greece is wanting to do for their own economy.
Through default and not paying off their debts and obligations.
Germany is the poster child for a nation that not only didn’t pay off their debt obligations once in the 20th century, but twice.  After World War I the Big Four (France, Italy, England, and the United States) placed war reparations on Germany for their engaging in an illegal war, and causing massive loss of life and property to several countries they fought in.  And by the time the 1930’s came about, the country had paid little towards its debt to the victors, and instead defaulted on it and rebuilt their economy to a place similar to before they engaged in World War I.
 

Thursday, July 2, 2015

What a novel concept… British legislators call for cancelling Greek debt by confiscating money from banks

As Greece races towards tomorrow’s deadline, several legislators within the British government are offering an entirely different solution to the problem.  On June 29, 25 MP’s from outside the leading conservative party have suggested that the Eurozone cancel the $380 billion Greece owes the IMF and Troika, and instead have the creditors seize the money from the institutions who actually profited from the Greek crisis.
The banks.
 

Wednesday, August 8, 2012

Government withholding money from Social Security recipients who have student loan defaults

When President Obama endorsed going back to school shortly after he came into office, very few Americans understood what the full ramifications of this would be.  Coupled with the fact that under Obama, the government has taken over the Student Loan industry, millions of Americans have become debt slaves to Uncle Sam.

And to deal with the 30% of student loan debtors who are delinquent in their payments, the government has moved towards stricter ways of getting its money back, and this now includes withholding Social Security payments to worthy recipients.



It's no secret that falling behind on student loan payments can squash a borrower's hopes of building savings, buying a home or even finding work. Now, thousands of retirees are learning that defaulting on student-debt can threaten something that used to be untouchable: their Social Security benefits.

According to government data, compiled by the Treasury Department at the request of SmartMoney.com, the federal government is withholding money from a rapidly growing number of Social Security recipients who have fallen behind on federal student loans. From January through August 6, the government reduced the size of roughly 115,000 retirees' Social Security checks on those grounds. That's nearly double the pace of the department's enforcement in 2011; it's up from around 60,000 cases in all of 2007 and just 6 cases in 2000.

The amount that the government withholds varies widely, though it runs up to 15%. Assuming the average monthly Social Security benefit for a retired worker of $1,234, that could mean a monthly haircut of almost $190. "This is going to catch an awful lot of people off guard and wreak havoc on their financial lives," says Sheryl Garrett, a financial planner in Eureka Springs, Ark.

Many of these retirees aren't even in hock for their own educations. Consumer advocates say that in the majority of the cases they've seen, the borrowers went into debt later in life to help defray education costs for their children or other dependents. Harold Grodberg, an elder law attorney in Bayonne, N.J., says he's worked with at least six clients in the past two years whose problems started with loans they signed up for to help pay for their grandchildren's tuition. Other attorneys say they're working with older borrowers who had signed up for the federal PLUS loan -- a loan for parents of undergraduates -- to cover tuition costs. Other retirees took out federal loans when they returned to college in midlife, and a few are carrying debt from their own undergraduate or graduate-school years. (No statistics track exactly how many of the defaulting loans fall into which category.) -
Smart Money

Over 100,000 social security recipients have had their benefits withheld in 2012 because of student loan delinquencies they have incurred, or they are bound to from co-signing with someone else.  And with the fact that nearly 50% of all Americans age 18-24 are unable to find jobs to pay off those loans, finding mercy with Uncle Sam is an fruitless activity because while your Pastor might give you remission for your choices, the government rarely forgives.

Friday, March 23, 2012

CIties defaults could accelerate as Municipal Bonds stand on edge of collapse

On March 22nd, the End of the American Dream blog came out with 10 indicators that cities around the country could begin defaulting in greater numbers as both the pension funds and municipal bonds outstanding could be on the verge of a collapse.



Chart courtesy of the Wall Street Journal

#1 Moody's has downgraded Detroit's debt again.
#2 The city of Indianapolis is facing an unprecedented 75 million dollar budget deficit in 2012. City officials are warning that there may soon not be enough money to keep the streetlights on.

#3 Suffolk County in New York has declared a "fiscal emergency" after discovering that it is projected to take on a total of more than 500 million dollars of additional debt by the end of 2013.

#4 The city of Trenton, New Jersey is so broke that it has put off buying more toilet paper for city buildings. At last report, there were a total of 15 rolls remaining and after that those that use city restrooms will be on their own.

#5 Some cities are slashing expenses dramatically in an attempt to stay afloat.

#6 In New York, state officials are deeply concerned that city and local governments are paying their pension obligations by borrowing from the state pension fund. This is essentially like making your minimum monthly payment on a credit card by borrowing more money on that same credit card....

#7 Pension problems are catching up with a lot of cities all over the nation. For example, CBS News reported recently that the city of Central Falls, Rh0de Island has been forced to declare bankruptcy because of pension woes....

#8 Last November, Jefferson County, Alabama filed for the largest municipal bankruptcy in U.S. history. At the time, they had accumulated a total of approximately 4.2 billion dollars of debt.

#9 Several other U.S. large cities have defaulted on their debts in early 2012

#10 In all, there have been 21 municipal defaults so far in 2012. The grand total of those defaults comes to 978 million dollars.


On top this these indicators listed, interest rates appear ready to move up outside the Fed's influence to control the lending rates.  Rates crossed 4% for the first time in several months in March, and the rate of foreclosures is now increasing after legal and legislative changes were made to the contract ownership barriers between banks and homeowners.

Lower tax receipts, coupled with rising inflation and the inability of cities to borrow money through bond auctions will accelaerate the collapse of many municipalities, and lead to greater unrest as city pension funds continue to shrink for retirees.

Monday, January 16, 2012

Greece: defaulting on the content of their character on MLK Day

Today, the head of Sovereign Ratings for Standard and Poor (S&P) came out and stated that a default of Greece in not only likely, but imminent.

  • KRAEMER: GREECE, CREDITORS `RUNNING OUT OF TIME' IN DEBT TALKS -BBG
  • KRAEMER: EURO LEADERS HAVEN'T TACKLED CORE UNDERLYING PROBLEMS -BBG
  • KRAEMER SAYS EUROPE MUST DEAL WITH IMBALANCES, COMPETITIVENESS -BBG
And the punchline:
  • KRAEMER SAYS HE BELIEVES GREECE WILL DEFAULT SHORTLY - RTRS -          Zerohedge

In reality, Greece defaulted last year when it failed to rollover debts that came due in the Euro Zone, but like most zombie banks and nation states, central banks in the West are able to keep the old men from dying long past the point they were little more than a stinking corpse.

Monday, September 12, 2011

Why does Greece matter to the US markets?

Yesterday, I spoke on the Angel Clark radio show out of Delmarva, Delaware, and one question she asked was very pertinent to the direction our economy will take, dependent upon the resolution.

How does Greece affect the United States?

Here is a picture of the amount of Greek debt owned by US, and other European Banks, and the repurcussions that a default by the decendants of Sparta, Thebes, and Athens would create.


You will notice that the US holds more bank debt than sovereign debt, and not only would they take the losses from a Greek default, but it would trigger more losses as other Euro banks default themselves for their holdings.