“You’re Banned!” – Hungary To Ban Rothschild Banks

A long-running dispute between Hungary and the International Monetary Fund escalated on Monday when the head of the country’s central bank called on the IMF to close its office in Budapest, saying it was no longer needed.

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By Nerti U. Qatja@VOP_Today


According to Spiegel Online – Relations between the government of Hungarian Prime Minister Viktor Orbán and the International Monetary Fund have never been especially good. Now they have hit rock bottom.

Orbán’s former economy minister and current central bank governor, Gyorgy Matolcsy, wrote a letter to IMF Managing Director Christine Lagarde on Monday calling on the fund to close its representative office in Budapest as it was “not necessary to maintain” it any longer.

Hungary owes its economic survival to the IMF. When the country was caught up in the global financial crisis in 2008, the fund and the EU came to the rescue with a €20 billion ($26 billion) loan. At the time, Orbán’s predecessor was in office.

Ever since Orbán became prime minister in 2010, Hungary has had trouble with international institutions. His government pushed through a new constitution and many laws that curtailed democracy, the powers of the constitutional court, the justice system and press freedoms. The EU responded by launching several proceedings against Hungary for breaching EU treaties.

In early July, the European Parliament passed a resolution calling on Hungary to repeal the “anti-democratic changes.” Orbán angrily dismissed the demands as “Soviet-style” meddling.

Hungary Says Will Repay IMF Loan This Year

Under Orbán, all negotiations with the IMF about fresh aid have failed. On Monday, central bank chief Matolcsy said the country didn’t need the IMF’s money and that Hungary would repay the 2008 loan in full by the end of this year.

He said the government had succeeded in pushing its budget deficit below the EU ceiling of 3 percent of GDP and had reduced government debt.

Matolcsy is the architect of Orbán’s unorthodox economic policy which is based on imposing heavy special taxes on large companies. He became central bank governor four months ago.

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The Hungarian economy shrank by 1.7 percent last year. The EU Commission expects it to return to weak growth in 2013. The budget deficit is expected to rise again, back up to 3 percent of GDP.

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Record: The World Is $152 TRILLION in Debt – IMF

Calculation of burden highlights challenge of boosting growth.

The world is $152tn in the red — a record-breaking level of debt, according to the International Monetary Fund.

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By Nerti U. Qatja@VOP_Today


Today FT reports: The figure, more than two times the size of the global economy, comes from the fund’s latest Fiscal Monitor and is, officials claim, the most accurate measure of the world’s debt burden ever calculated.

“Global debt is at record highs and rising,” said Vitor Gaspar, director of fiscal affairs at the fund.

The figures highlight the apparent paradox between ultra-low interest rates imposed by many central banks in an attempt to encourage borrowing and boost sluggish economies, and the dangers that arise from excessive debt levels.

While the IMF did not call for rapid prepayment of debt, it warned that in some countries the unprecedented level of borrowing by companies was too high.

“Excessive private debt is a major headwind against the global recovery and a risk to financial stability,” said Mr Gaspar. “The Fiscal Monitor shows that rapid increases in private debt often end up in financial crises. Financial recessions are longer and deeper than normal recessions.”

Levels of borrowing have substantially outpaced global growth in recent years, rising from 200 per cent of gross domestic product in 2002 to 225 per cent last year.

While two-thirds of the debt is held by the private sector, governments’ borrowing requirements have also ballooned since the global financial crisis.

Nevertheless, officials at the fund — which is holding its annual meetings with the World Bank in Washington this week — want governments to act to boost growth.

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Calls for what are often dubbed “growth-friendly fiscal policies” have grown from the IMF and other multilateral institutions as concern has mounted that the world’s central banks have been left with too much of the burden to lift the global economy.

Mr Gaspar emphasised that debt levels were not high everywhere. “The sharp diversity across countries is a reminder of the need to tailor policy diagnosis and prescription to the specific conditions prevailing in each country,” he said.

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Most of the debt is concentrated in the world’s richest economies, although China has markedly increased borrowing in recent years. While low income countries have relatively low levels of debt, many have sharply increased borrowing in recent years.

The fund also said that companies would help raise growth if they shrank their balance sheets by reducing their size, although it acknowledged the process would take time.

He added that countries entering a financial recession with a weak fiscal position were likely to lose more growth than countries that manage to counter shocks by spending more.

Central banks have cut interest rates to all-time lows and engaged in mass bond buying in response to the global financial crisis. Although most economists think their actions have helped, there is also a broad consensus that the economy will remain below par unless governments do more.

The debt burden figure is based on data collected by the IMF and the Bank for International Settlements from 113 countries, which together make up more than 94 per cent of global GDP. Fund officials have worked on the project over the past year.

62 Members Of The Elite Have As Much Money As The Poorest 3.6 Billion People On The Entire Planet

Did you know that the top 1% has more wealth than the rest of the planet combined? And just 62 ultra-wealthy members of the elite have as much money as the poorest 3.5 billion people on the entire planet. These brand new numbers come from a shocking report that was just put out by Oxfam, and they show that income inequality continues to grow at a very rapid pace all over the world.

By Nerti U. Qatja@VOP_Today


As you will see below, the total wealth of the poorest half of the global population has plunged by 41 percent since 2010 while the wealth of the elite has continued to surge upward. The debt-based financial system that now has the entire planet in its grip funnels wealth to the very top, and the global elite are more than happy to hoard as much of it as they possibly can.

In our world, money is power, and the elite are continually becoming more powerful. The following comes from the Independent, and I think that these numbers truly speak for themselves…

Wealth inequality has grown to the stage where 62 of the world’s richest people own as much as the poorest half of humanity combined, according to a new report.

The research, conducted by the charity Oxfam, found that the wealth of the poorest half of the world’s population – 3.6 billion people – has fallen by 41 percent, or a trillion US dollars, since 2010.

While this group has become poorer, the wealth of the richest 62 people on the planet has increased by more than half a trillion dollars to $1.76 trillion.

Back in 2010, 388 members of the elite had as much wealth as the poorest half of humanity. But since then that number has been steadily falling and now it is down to just 62. At this pace, Oxfam is projecting that in just a few years a single person will have as much money as the poorest half of the global population combined.

As I mentioned above, a big reason for this trend is the financialization of the global economy. All over the world, governments, businesses and individuals have been trained to binge on debt, and all of this debt is systematically impoverishing us. Whenever we borrow money, we always have to pay back more than we borrow, and this funnels wealth to the very top of the pyramid.

Since the last financial crisis, the total amount of debt in the world has absolutely exploded. At this point it is sitting at more than 200 trillion dollars, and all of that debt enriches the ruling class. The more money they get, the more they are able to impose their will on the rest of us, and that is not a good thing.

You may think that you can change your destiny at the ballot box, but history has shown that this is a rather fruitless exercise. The candidate with the most money almost always wins, and so the elite just buy and sell politicians like trading cards. And most politicians are members of the elite anyway. In the end, it is very rare to see a true “outsider” have any sort of sustained success in the political arena.

Unfortunately for the elite, the massive global financial bubble they have created is beginning to burst, and this could have very serious consequences for them. As USA Today is reporting, many of the elite are in a rather glum mood as they gather in Davos, Switzerland for their yearly confab…

Among the elite 2,500 executives and world leaders slouching toward Davos by train, Mercedes limo and helicopter this year, there is a single, depressing refrain — at least it’s not 2008.

There’s nothing to focus the mind of the collective corporate aristocracy like a markets crisis, and January 2016 hasn’t failed to deliver. While European markets were stable Monday after last week’s brutal sell-off, oil continued to fall as Iran prepares to dump 500,000, sanction-free barrels a day on world markets.

I talked about the nightmarish oil crash that we are witnessing in my latest articleon The Economic Collapse Blog. This oil crash has pushed markets all over the world into bear market territory, and panic is spreading like wildfire. The following list from Wolf Richter shows just some of the major stock markets that have now fallen more than 20 percent from the peak…

France: -20.6 percent

Germany: -23.3 percent

Sweden: -24.0 percent

Singapore: -27.0 percent

Canada: -27.5 percent

Spain: -28.5 percent

Hong Kong: -32.7 percent

Brazil: -37.5 percent

China (Shanghai Composite): -43.7 percent

Italy: -45.1 percent

Saudi Arabia: -50.4 percent

If the damage stopped here, it would still be a major crisis. But at this point there are many analysts that are forecasting that this new crisis will ultimately turn out to be far worse than what we experienced in 2008. One of those analysts is Albert Edwards of Societe Generale

Albert Edwards, an analyst from french bank Societe Generale, predicts global deflation is going to wipe out 75 percent of the value from the S&P 500.

Edwards’ warning comes on the heels of last weeks drastic and ongoing devaluation of the Chinese currency, tanking oil prices, and major stock selloffs throughout the worlds markets.

In his stark investment note to clients Friday, Edwards blamed the present market turbulence on the Federal Reserve and its British and European central bank counterparts for introducing Quantitative Easing (QE) schemes to their markets, which first began the inflation in prices globally.

If Albert Edwards is right and we do see a 75 percent decline of the S&P 500, the global economy will plunge into a full-blown depression. Big financial institutions will implode left and right, and we will experience a “credit crunch” far greater than what we witnessed in 2008 and 2009. The banks that survive won’t want to lend to one another or to anyone else, and economic activity will grind to a standstill.

What that will mean for ordinary people is this – millions of jobs will be lost and millions of families will no longer be able to pay their bills. Poverty and homelessness will absolutely explode, and economic despair will be everywhere.

The elite will suffer too, but it is during times of great crisis that the elite make their boldest moves. They love to create order out of chaos, and they love to offer us “solutions” for problems that they originally had a hand in creating.

As bad as things are right now, the truth is that they are about to get a lot worse. And the eventual “solutions” that we will be offered will inevitably result in even more power and more money ending up in their hands.

The game is rigged and the elite are running the show.

But when the wheels of the bus come off this time, will the elite be able to retain control?

Only time will tell…

The Scandal in Washington No One is Talking About

The deadly-but-forgotten government gun-running scandal known as “Fast and Furious” has lain dormant for years, thanks to White House stonewalling and media compliance. But newly uncovered e-mails have reopened the case, exposing the anatomy of a coverup by an administration that promised to be the most transparent in history.

By Anthony Von Dari@VOP Today


A federal judge has forced the release of more than 20,000 pages of emails and memos previously locked up under President Obama’s phony executive-privilege claim. A preliminary review shows top Obama officials deliberately obstructing congressional probes into the border gun-running operation.

Fast and Furious was a Justice Department program that allowed assault weapons — including .50-caliber rifles powerful enough to take down a helicopter — to be sold to Mexican drug cartels allegedly as a way to track them. But internal documents later revealed the real goal was to gin up a crisis requiring a crackdown on guns in America. Fast and Furious was merely a pretext for imposing stricter gun laws.

Only, the scheme backfired when Justice agents lost track of the nearly 2,000 guns sold through the program and they started turning up at murder scenes on both sides of the border — including one that claimed the life of US Border Patrol Agent Brian Terry.

While then-Attorney General Eric Holder was focused on politics, people were dying. At least 20 other deaths or violent crimes have been linked to Fast and Furious-trafficked guns.

The program came to light only after Terry’s 2010 death at the hands of Mexican bandits, who shot him in the back with government-issued semiautomatic weapons. Caught red-handed, “the most transparent administration in history” flat-out lied about the program to Congress, denying it ever even existed.

Then Team Obama conspired to derail investigations into who was responsible by first withholding documents under subpoena — for which Holder earned a contempt-of-Congress citation — and later claiming executive privilege to keep evidence sealed.

But thanks to the court order, Justice has to cough up the “sensitive” documents. So far it’s produced 20,500 lightly redacted pages, though congressional investigators say they hardly cover all the internal department communications under subpoena. They maintain the administration continues to “withhold thousands of documents.”

Even so, the batch in hand reveals the lengths to which senior Obama operatives went to keep information from Congress.

The degree of obstruction was “more than previously understood,” House Oversight and Government Reform Chairman Jason Chaffetz said in a recent memo to other members of his panel.

“The documents reveal how senior Justice Department officials — including Attorney General Holder — intensely followed and managed an effort to carefully limit and obstruct the information produced to Congress,” he asserted.

They also indict Holder deputy Lanny Breuer, an old Clinton hand, who had to step down in 2013 after falsely denying authorizing Fast and Furious.

Their efforts to impede investigations included:

  • Devising strategies to redact or otherwise withhold relevant information;
  • Manipulating media coverage to control fallout;
  • Scapegoating the Bureau of Alcohol Tobacco and Firearms (ATF) for the scandal.

For instance, a June 2011 e-mail discusses withholding ATF lab reports from Congress, and a July 2011 e-mail details senior Justice officials agreeing to “stay away from a representation that we’ll fully cooperate.”

The next month, they went into full damage-control mode, with associate Deputy Attorney General Matt Axelrod warning an ATF official that providing details about Fast and Furious “strikes us as unwise.”

Then in late August 2011, another e-mail reveals that Holder had instructed his staff to have an official at ATF “close the door to his office” to prevent information about the mushrooming scandal from leaking.

Talking points drafted for Holder and other brass for congressional hearings made clear that Justice intended to make ousted ATF officials the fall guys for the scandal.

“These (personnel) changes will help us move past the controversy that has surrounded Fast and Furious,” Assistant Attorney General Ron Weich wrote in August 2011.

In an October 2011 e-mail to his chief of staff, moreover, Holder stated that he agreed with a strategy to first release documents to friendly media “with an explanation that takes the air out” of them, instead “of just handing them over” to Congress.

“Calculated efforts were made by senior officials to obstruct Congress,” Chaffetz fumed.

“Over the course of the investigation,” he recounted, “the Justice Department has provided false information, stonewalled document requests, produced scores of blacked-out pages and duplicate documents and refused to comply with two congressional subpoenas.”

Though Obama prides himself on openness, transparency and accountability, the behavior of his administration belies such lofty principles. “Transparency should not require years of litigation and a court order,” Chaffetz pointed out.

Obama insists Fast and Furious is just another “phony” scandal whipped up by Republicans to dog his presidency. What does his heir apparent Hillary Clinton think?

The anti-gun zealot has been silent on the gun-proliferation scandal. But then, she’s been busy sweeping subpoenaed e-mails under the rug of her own scandal.

Fossil Fuels Could Be Phased Out In 10 Years – Study

Researchers suggest the Earth’s fossil fuel addiction could be kicked in less than a decade.

Scientists at the University of Sussex looked at previous energy transitions for clues about the current energy crisis and how human systems might respond.

By Nerti U. Qatja@VOP_Today

Though previous transitions — from wood to coal for example — were more time-intensive affairs, researchers believe current constraints and technological advantages are likely to inspire more rapid change in the coming years.

Researchers point to several factors unique to our current energy crisis: scarcity of resources, the threat of global warming and rapid technological change.

In addition to looking to the past, the new study — published in the journal Energy Research and Social Science — also points to more recent sustainability projects. Between 2003 and 2014, Ontario did away with the use of coal entirely. In Indonesia, more than two-thirds of the population moved from kerosene stoves to LPG stoves in just three years. France’s nuclear power went from supplying just 4 percent of the nation’s electricity in 1970 to 40 percent by 1982.

Besides speed, all of these projects had one common characteristic: strong government intervention. A combination of taxes, tariffs and other incentives are necessary to change consumer behavior and the decision making of energy suppliers.

But researchers say it’s possible.

“Moving to a new, cleaner energy system would require significant shifts in technology, political regulations, tariffs and pricing regimes, and the behavior of users and adopters,” study leader Benjamin Sovacool, a professor of energy policy at Sussex, said in a news release.

“Left to evolve by itself — as it has largely been in the past — this can indeed take many decades. A lot of stars have to align all at once,” Sovacool added. “But we have learned a sufficient amount from previous transitions that I believe future transformations can happen much more rapidly.”

Obama Will Crash The Economy Before He Leaves Office

A Wells Fargo bank insider, who claims to be a teller, has said that the bank are training their staff to deal with an imminent “emergency scenario”. The insider reports:

I am a teller at Wells Fargo here in the US this is also my first time using this proxy.

By Nerti U. Qatja@VOP_Today

They started training us today for a bank holiday. They didnt mention the word bank holiday, but they did train us for an “emergency scenario”. They told us it’s just a drill. Ive been working here for 3 years, and we never had a drill before.

The panicked elite are buying up underground bunkers and/or fleeing to parts unknown as all indications point towards a collapse that will in the words of Economist Peter Schiff be the Earthquake that follows the 2008 tremor. The Chicago Tribune reported that “About 3,000 individuals with net assets of $1 million or more,” left Chicago in the last year alone due to the exploding climate of unrest growing in the City of Chicago.

The writing is on the wall. President Obama in concert with his puppet master George Soros have been turning up the heat on the deteriorating conditions resulting from the United States and the EU’s strategic collapse of the global economy for the last 7 years.

The Wall Street journal reports that the largest Coal company in the United States has filed for bankruptcy, an event that will result in energy costs that will sharply rise on the American middle class like they have in Germany. Germany’s energy policies have gradually doubled the average industrial cost per kilowatt hour as clean and renewable energy can’t carry the load…literally.

Last week Obama began pushing for housing lenders to offer home loans to people with bad credit. What better way to push the economy over the edge than to repeat the same 2008 nightmare. By 2014 Investors had already begun to notice another government fed subprime housing bubble growing.

Investor’s Business Daily wrote in January of 2014 “What stoked housing inflation was federal housing policies designed to boost home ownership among low-income and minority borrowers. In 2008 the bubble burst, wiping out trillions in wealth. Today it’s forming again. Between 2011 and the third quarter of 2013, housing prices rose nearly 6% — triple the increase in rental costs, Wallison says. “Both this bubble and the last one were caused by the government’s housing policies,” Wallison said in a New York Times column. Low down payments — a mere 5% at Fannie and Freddie and just 3.5% at FHA — are fueling the bubble.. Dodd-Frank was supposed to prevent another bubble. But new qualified mortgage rules don’t require a minimum down payment for borrowers in 2014. The country has been misled about “financial reform.”

Infowars has called for Obama’s impeachment on numerous occasions. To no avail, his supposed lame duck presidency heading into the end of his term has been tremendously underestimated. Join me for part two of this report documenting the growing threat that Americans are nothing less than under a full New World Order attack aided and abetted by the Executive branch of the United States.