The National Credit Union Administration brought a lawsuit against JP Morgan, Chase, UBS and 10 other international banks, on behalf of five failed credit unions, because of the LIBOR manipulation. Big banks already face a slew of LIBOR lawsuits by investors and some local governments over the very apparent conspiracy. With the paid off courts… Good Luck!
Finland Wants Physical
Most of Finland’s 49.1 tons of gold reserves is held outside the country’s borders; of which, the bulk of it is in London. Now, Finland’s citizens are seeing the handwriting on the wall and have persuaded their government to take the concept of repatriation seriously. There will be a national referendum on the matter… No later than May 2014!?!
Debt Crisis Inevitable
In its latest budget projection, the Congressional Budget Office offers yet another dire warning that the debt is unsustainable. What’s more, the reports says that if current laws and policies are not changed, the federal debt could reach 100% of GDP by 2038. I would have thought 2018. Of course, they do not include the unfunded liabilities – which pushes the national debt to 211 trillion.
Moody’s U.S. Expectations
Moody’s expects that the U.S. will avoid a shutdown and increase the debt limit. Moody’s also expects the U.S. to keep paying interest on Treasuries in the event of a debt ceiling standoff. Does Moody’s also expect marshal law, because of a government shutdown, in the U.S. as well?
In some so-called unexpected news, consumer confidence fell from an indexed 81.8 to 79.7, which is more than expected. They were expecting it to be 79.9, so another reason not to expect tapering.
Lois Lerner Profits From Neglect
Lois Lerner, the woman at the center of the IRS targeting scandal, has retired. Yes, this government official could receive her life-long retirement for turning the IRS into a political weapon. Fortunately, the investigation is not over. So perhaps, Lois may be retiring to a federal prison.
Climate Change Deniers
Al Gore’s rhetoric has gone from global warming to climate change and has said that climate changers should pay a political price. Well Al, scaremongers like you, that have profited on the scam that was global warming for over a decade, should be forced to pay back what you profited on the global warming scam by a hundred fold.
Finally, please prepare now for the escalating economic and social unrest. Good Day!
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