Joan Veon on the engineered Financial collapse.

As I am watching this fascinating presentation I have to urge you to watch this in its entirety. The structural changes chapter is horrifying in the scope in which it transfers the powers of congress to the bankers and the chapter on derivatives (the source of John Key’s wealth) is just beyond comprehension in it’s […]

The global financial crisis in three easy steps and why the Greek solution won’t work!

This is what is happening in three easy steps. Gamble number 1: Banks (European) invested in bonds sold by individual countries to finance these countries in effect loaning those countries money expecting it to be paid back with profit. Gamble number 2: They insured those bonds with other banks (American) in case the countries could […]

It was worse than we thought – Bollard

Either Bollard is one of the most incompetent finance guys or he’s lying. It is that simple. And since I don’t believe that stupid people end up being a governor of the Reserve bank I must conclude he is lying. Our Reserve bank is part of the fractional reserve system and as such Bollard is […]

The Last Hurrah for the Banking System

And that means the last hurrah for the NZ banking system too. By Mike Whitney 28/07/08 “ICH” — The Bush administration will be mailing out another batch of “stimulus” checks in the very near future. There’s no way around it. The Fed is in a pickle and can’t lower interest rates for fear that food […]