Capital Account - Nigel Farage on the Failings of the EU Summit

Jun 28, 2012 by CapitalAccount

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Barclays Investigation Puts Scrutiny on Banks

Jun 28, 2012 by AssociatedPress

More global banks are being investigated for the alleged financial market manipulation that led to fines of $453 million against Barclays Bank.

Ron Paul continues fight to audit the Fed

Jun 28, 2012 by RTAmerica

Congressman Ron Paul has been more than outspoken when it comes to ending the Federal Reserve. Although there are no real signs of the Fed coming to end, it may soon be audited. Paul's bill to audit the Federal Reserve advanced in the House on Wednesday, and the lack of transparency and shady policies have many pushing for an inspection of the Fed. Lew Rockwell, chairman for the Ludwig Von Mises Institute, joins us with more.

Keiser Report: Zombie Bank Apocalypse

Jun 28, 2012 by RussiaToday In this episode, Max Keiser and co-host, Stacy Herbert, demand the big banks prove they are not dead by removing the life support systems, especially cufflinky Jamie Dimon's Too-Big-To-Fail bank. In the second half of the show Max talks to Professor Steve Keen about the wages being negatively related to the level of interest rates and debt.

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http://www.youtube.com/playlist?list=PL768A33676917AE90 (E1-E200)
http://www.youtube.com/playlist?list=PLC3F29DDAA1BABFCF (E201-current)

Celente: The 2nd American Revolution STARTS NOW!

Jun 27, 2012 by TheAlexJonesChannel

People & Power: Colombia's Emerald Tsar

Jun 28, 2012 by AlJazeeraEnglish
 

Colombia is known for many things. On the plus side there is its vibrant lifestyle, its diverse and beautiful landscape with heart stopping vistas, its rich culture and history and of course its fabulous coffee. On the debit side there is its unfortunate place at the top of the world league of cocaine producers and a reputation for violence born out of South America's longest running armed conflict, between government forces, left wing insurgents and right wing paramilitaries. And then there are its emeralds. To those who covet the sparkling green gems, Colombia is where the very finest stones - those with the deepest colour and fewest imperfections and trace elements - are to be found. Emeralds have been mined there since antiquity and were as much prized by the Incan nobility as they were by the Spanish conquistadors who spread across the 'new world' in the 16th century. Today, Colombia is responsible for almost two thirds of the world's production of fine emeralds; commerce that brings in hundreds of million dollars of much needed export income.

7/7 Whistleblower Fired For Exposing False Flag

Jun 28, 2012 by TheAlexJonesChannel

Clarke and Dawe - Wimbledon 2012

Jun 28, 2012 by ClarkeAndDawe

Marc Faber - Time to diversify asset portfolio

Jun 28, 2012 by DoomBoomGloom

JPMorgan Trading Loss May Reach $9 Billion

From The New York Times

Original source

Losses on JPMorgan Chase’s bungled trade could total as much as $9 billion, far exceeding earlier public estimates, according to people who have been briefed on the situation.

When Jamie Dimon, the bank’s chief executive, announced in May that the bank had lost $2 billion in a bet on credit derivatives, he estimated that losses could double within the next few quarters. But the red ink has been mounting in recent weeks, as the bank has been unwinding its positions, according to interviews with current and former traders and executives at the bank who asked not to be named because of investigations into the bank.

The bank’s exit from its money-losing trade is happening faster than many expected. JPMorgan previously said it hoped to clear its position by early next year; now it is already out of more than half of the trade and may be completely free this year.

As JPMorgan has moved rapidly to unwind the position — its most volatile assets in particular — internal models at the bank have recently projected losses of as much as $9 billion. In April, the bank generated an internal report that showed that the losses, assuming worst-case conditions, could reach $8 billion to $9 billion, according to a person who reviewed the report.

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