NEW YORK, Oct. 25, 2012 /PRNewswire via COMTEX/ -- Spire Law Group, LLP's national home owners' lawsuit, pending in the venue where the "Banksters" control their $43 trillion racketeering scheme (New York) - known as the largest money laundering and racketeering lawsuit in United States History and identifying $43 trillion ($43,000,000,000,000.00) of laundered money by the "Banksters" and their U.S. racketeering partners and joint venturers - now pinpoints the identities of the key racketeering partners of the "Banksters" located in the highest offices of government and acting for their own self-interests.

Major Banks, Governmental Officials and Their Comrade Capitalists Targets of Spire Law Group, LLP's Racketeering and Money Laundering Lawsuit Seeking Return of $43 Trillion to the United States Treasury

Interesting read on the crisis in Europe.

Remarks at the Festival of Economics, Trento Italy

Imagine if the incoming Greek Prime Minister were to try out something novel: Telling the truth! Addressing our European partners and telling them that, even if every Greek man, woman and child strove to stick to the nation’s ‘bailout’ commitments, Greece’s debt-to-GDP ratio will remain on an explosive path which guarantees an ignominious exit from the Eurozone. And then add:

- that Greece will not borrow another euro from the troika until and unless a rational plan is in place
- that this ‘rational plan, must apply to all member-states, rather than privilege Greece at the expense of Ireland, Portugal, Spain etc.
- that until such a plan is in place, Greece will strive to live within its meagre means within the Eurozone, suspending temporarily all payments to all creditors

For Europe’s sake Greece must renege on its bailout commitments

President Obama has been touting patents as a way to create jobs and increase U.S. competitiveness. “These are jobs and businesses of the future just waiting to be created,” he said of patent applications last September, “somewhere in that stack of applications could be the next technological breakthrough, the next miracle drug, the next idea that will launch the next Fortune 500 company.”

The President is mistaken—at least when it comes to the patent system as it relates to software patents.

Where are the jobs? Ask the patent trolls.

JPMorgan announced that it incurred a $2 billion loss in a complicated trading strategy that involved derivatives, financial instruments that derive their value from the prices of securities and other assets. The bank most likely structured the trade in a way that magnified losses.

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Check out the diagram and see how JP Morgan bet against itself twice over.

At JPMorgan Chase, a Complex Strategy That Backfired

Impacts will be huge.

Steve Keen on the transmutation of Zombie Banking into Zombie Government!

The unfolding circumstance will encompass a complete loss in the purchasing power of the U.S. dollar; a collapse in the normal stream of U.S. commercial and economic activity; a collapse in the U.S. financial system, as we know it; and a likely realignment of the U.S. political environment. Outside timing on the hyperinflation remains 2014, but events of the last year have accelerated the movement towards this ultimate dollar catastrophe.

Shadow Govt Stats - Hyperinflation Special Report 2012

Debt Supercycle: As of this writing, outstanding U.S. federal debt is close to $15.3 trillion dollars. For the first time in my lifetime US federal debt now exceeds U.S. GDP. In personal terms each U.S. citizen now owes $180,559.1

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Great read... And when will the markets lose confidence?

The Debt Supercycle Reaches Its Final Chapter

Bloomberg News today released spreadsheets showing daily borrowing totals for 407 banks and companies that tapped Federal Reserve emergency programs during the 2007 to 2009 financial crisis. It’s the first time such data have been publicly available in this form.

$7.77 trillion -- The amount the Fed pledged to rescue the financial industry, according to Bloomberg research that examined announced, implied or actual upper limits on lending and guarantees.

To download a zip file of the spreadsheets, Click on the link. For an explanation of the files, see the one labeled “1a Fed Data Roadmap.”

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Merry Christmas

Fed Once-Secret Loan Crisis Data Compiled by Bloomberg Released to Public

A radical plan to jumpstart the U.S. economy may have to involve massive write-downs of U.S. consumer debt.

the great haircut