Europe Banking Crash cooking

The Holy Spirit has fled the accursed European banking system, a harbinger of the coming crash.  The fall of the BES can mean chain effects in France, and in big players like Fidelity financial group.

Banco Espirito Santo (BES), the ca. $100 billion-assets, 150-year-old commercial bank of the Group, was nationalized Sunday by Portugal's government, which belied everything Portugal had said about BES for the past month. BES' realized losses, some 5 billion euros and growing, were put into a "bad bank" and assumed by the government, and those losses will keep growing. So far they took about 5 billion euros of the government's bail-out fund. The fiction that this was a "banking sector-financed fund" was maintained when the government lied outright that the bailout "cost it nothing". The banking sector premiums had put almost nothing in the resolution fund, so the government had to "lend" it 5 billion euros. This situation is true Europe-wide.

Now the contagion: a $1 billion loss for shareholder Credit Agricole France, pending more from its "partnership" with the already- bankrupt BES Group; $1.5 billion loss for Barriere, Inc., Brazil; $1 billion loss for the Blackstone Group, etc. The government now claims that its bailout has spared BES depositors any confiscation, and only junior creditors will be "bailed in". But since BES was selling "Group financial products" to its depositors at branches, they will be among the junior creditors bailed in. And — surprise! — this was declared NOT a credit event, so the junior creditors lose all CDS payouts!

A study by Sinclair & Co. Consultants released Aug. 1 says that bad debts in Eurozone banks (i.e. not including British) increased 20% from May 2013 (the last stress tests) to May 2014; they are now estimated at 2 trillion euros or $2.7 trillion in "value". Meanwhile lending by those banks fell by 2.8% in the same year, with lending to households falling by 4%, and to businesses by 2.1%.

While China and the BRICS add credit and productivity to the world economy, the trans-Atlantic financial system subtracts them.

In a final irony, Argentina's supposedly defaulted ("Griefalted") 30-year 2033 bonds were selling at 91 cents on the dollar Monday, while BES' supposedly bailed out, UN-defaulted junior bonds were selling at 21 cents/dollar.

When the Moon is in the Seventh House

Planet conjunctions coming up.  Like when the moon is in the seventh house, and Jupiter aligns with Mars.  Then peace and British Nazis will piss on the planet, and hate will rule the stars.  (something like that, poor old hippies....)

Learn about what planetary conjunctions are and how you have the opportunity to see two of them in August! Can't see the images in this message?.

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Advertising Freaks over Social Media

Hey Harlem and Bronx NY dudes-- Got the word at my company's town hall meeting yesterday, be careful of what you put on social media.  You can gossip about your sex life or lack of it, but not a thing about their advertisers, their clients, their campaigns.  Madison Avenue likes to make money off of facebook, twitter, etc but not give out secrets...

Listen, or they are going to fire you fast.  Also, very wary of freelancers, afraid of turncoats.  In Harlem NY, in Chelsea NYC, all around town.

Harlem Detroit and Gaza to BRICS

We Harlem T-shirt dudes in NYC know that the genocide banker bullies are after us, not just in Detroit Mich where they cut off the water, and not just in bombed-out Gaza.  The system is bankrupt and something will go fast.  Argentina will blow out in 2 days.  Russia will blow back real hard.  The thieves have been caught, the BRICS are organizing, Brazil, Russia, Inda,etc, and the fight is on.  Glass Steagall Act bankruptcy reorganization or die, for sure.  Down with the British Empire, financial system and oligarchy.  Yukos to you!!

Hi to my fans in India, Delhi, Bombay, Calcutta, or Kolkatta.

Wall St needs the money

Wall St needs the money.  They are broke and have to loot everyone from Argentina to Russia.  It's a dangerous situation.  Call it the "Tonkin Gulf Syndrome." First you fabricate a lie about an incident or its authorship to justify military action; then you quickly escalate hostilities; and war is irreversibly underway before anyone has time to think twice about it.

It's what the British Empire did to suck the U.S. into the Vietnam quagmire. It's what Tony Blair pulled off with his "dodgy dossier" about Saddam Hussein's non-existent WMD in Iraq, with George Bush in tow. It's what the British and Obama tried to do again last year with the Syrian government's supposed chemical weapons attack—which was derailed at the eleventh hour by strong opposition from outside and inside the U.S., much of it organized by LaRouche PAC. And it is what the desperate, bankrupt British Empire is once again trying to pull off around the MH17 incident in Ukraine, with a headlong rush towards thermonuclear confrontation between the United States and Russia.

In the last 24 hours, significant obstacles have been thrown up to that British gambit—from U.S. military and intelligence circles opposed to Obama's provocations; from Russian President Putin; and from a deeply-divided Europe, which is dragging its feet on adopting increased sanctions against Russia.

But stalling war, as desirable as it is, does not eliminate the driving force behind the rush to thermonuclear confrontation.

"As long as you go along with Wall Street's fraud, with their demands for payment on dead debt regardless of the cost in human lives, you are walking into a trap,"Lyndon LaRouche commented today."If you denounce their $2 quadrillion in phoney assets as a fraud, then you can bankrupt the British Empire and their Wall Street sidekicks, and also sink their drive for war. It's the only way to break the trap."

"Take the case of Argentina,"LaRouche continued."What the vulture funds are trying to impose on that country, with the backing of Federal Judge Griesa and the Supreme Court of the United States, is a fraud and a crime. The paper that they are trying to enforce is fraudulent and worthless. Argentina can't pay and won't pay—they have no legitimate obligation to do so. All of South America agrees. This is paper that is never going to be paid. There is no possibility that the speculators will be able to recoup. Wall Street and the City of London are just going to have to take the hit."

"So we are sending Wall Street a simple message: It's your crap; you eat it,"LaRouche stated.

"Take the related case of Detroit, where that city is also being destroyed by bankers and vulture funds—including some of the very same ones preying on Argentina—trying to collect on worthless assets. That's also a fraud, and should be cancelled. These guys said they had it coming to them; well, they don't have anything coming to them. What they are claiming is a joke; it's finished; it's all over; they are never going to get it. Their claims are worthless,"LaRouche said.

LaRouche also pointed to other worthless paper accounts which are destroying the world economy, such as those of commodity speculators."Look at the grain markets. Look at energy. These guys are also claiming values that don't exist, and they are killing people as a result. In fact,"LaRouche added,"we need a general proposal for an agreement among nations, as to what isand what is not real value in the economy. We have to force that issue, if we are going to solve the crisis. Fortunately, the BRICS nations have taken a strong step in that direction at their mid-July summit in Brazil."

With yesterday's decision by Judge Griesa to not grant a stay in the execution of the vulture funds' predatory collection demands on Argentina, that country now faces a July 31 deadline to either pay up, for face default. "That means the fuse is lit," LaRouche said,"both on the Argentina debt bomb, which could detonate the entire international system, and also on the escalating war danger. The time to act is now."

Russia china india victory with brics

Thick as the brics

e Importance of BRICS Bank Is Slowly Sinking In

After a spate of articles trashing the BRICS proposed New Development Bank that appeared in the western press, some pundits have now begun to acknowledge the importance of setting up the bank and trying to figure out why the BRICS chose to do it.

Shifting Weight

Putin Plans BRICS "Energy Association," Including Nuclear Fuel Bank

During the BRICS Summit last week in Brazil, Russian President Putin announced that there are plans to establish a BRICS "energy association," which will include a nuclear fuel reserve bank, and an energy policy institute.

Ground-Breaking Initiative

Russia, China and India Push for Next-Generation Reactors

Russia plans to start construction of three BN-1200 sodium-cooled fast neutron reactors before 2030, the director general of Rosenergoatom, Evgeny Romanov, said on July 21.

The World is Going Nuclear

China and Brazil Extend Their Successful Remote Sensing Space Project

China and Brazil will move ahead with their China-Brazil Earth Resources Satellite (CBERS) program, adding a new satellite, and considering more in the future, the director of China National Space Administration, Xu Dazhe, said yesterday.

Broad Cooperation

Former Ambassador Chas Freeman: BRICS Summit Means End to Sanctions Blackmail on Iran

Appearing at a July 21 Capitol Hill forum sponsored by the Middle East Policy Council, former US Ambassador to Saudi Arabia and Assistant Secretary of Defense Chas Freeman, not only tore into the Bush-Cheney and Obama administrations' destruction of US foreign policy, particularly in the Middle East. He issued a stark warning that the world is turning away from American unilateral leadership and is embarking on a new direction, epitomized by the recent BRICS summit in Brazil. Freeman brought the BRICS summit right back into the discussion of "Obama's Foreign Policy and the Future of the Middle East" by noting that Iran has undoubtedly taken careful note of the full implications of the BRICS developments. If the BRICS countries succeed in creating new trade arrangements in local currencies and actually bypass the SWIFT system of New York clearinghouse banks, it will no longer be possible to impose global US and European Union sanctions with any teeth. "They've cooked their own goose," he noted with considerable glee.

The full text of Freeman's speech is on his website, and the entire conference video and transcript will be posted shortly on www.mepc.org. The other speakers, Ken Pollack, Paul Pillar, and Amin Tarzi, all panned the successive failures of Bush-Cheney and Obama, and all singled out the 2003 US-UK invasion of Iraq and the overthrow of Saddam Hussein as the greatest US policy blunder in decades.

Denmark's Jyllands-Posten Has Thoughtful BRICS Editorial

Jyllands-Posten, Denmark's largest newspaper, had an editorial, "The BRICS Want To Do It Themselves," in the July 21 issue, which is thought-provoking and useful. The following translation was provided, of which we provide excerpts:

'The BRICS Want To Do It Themselves'

US Congress Stay in Session

With the disasters of Ukraine-Russia and the Middle East Israel-Palestine, ISIS in Syria and Iraq, we cannot let the US Congress to adjourn  http://www.harlemlook.net/2014/07/hey-harlem-stop-middle-east-war.html the insanity is tooo much.

The financial system is coming to an end.  Glass Steagall or die.