Where Are The Deutschmarks? No One Is Saying

Billions Of D-Marks STILL Not Cashed In

Großansicht des Bildes mit der Bildunterschrift: Many Germans are reluctant to let go of their deutschmarks

Billions of German deutschmarks have yet to be changed into Euros. Deutsche Welle tried to find out what has happened to the missing money and asked experts what can be done about these dead reserves.

A bag of chocolate deutschmarks was just one of the odd products that I glimpsed on sale at a UK airport this Christmas. With no time to check the best before date, I was left wondering whether this was a sign of the ultimate devaluation of the once mighty D-mark, or just very poor stock management.

Much stranger still is that eight years after euro notes and coins went into circulation here in Germany, a staggering 13.6 billion deutschmarks are yet to be traded in. That is the equivalent to almost seven billion euros - or some 175 euros for every German household.

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Christmas Subscription! The Perfect Newsletter Gift On Global Governance

Are there friends or family that are noticing the world is becoming governed?


Is there a loved one that is noticing the signs of a new world government?


Are the free sound bites on mainstream media and op-ed web blogs still confusing them?


Are your friends and family seeing America move toward a socialist governance?


Then give them the perfect gift for 2010.

Subscribe them to the Say No To Global Governance monthly newsletter.


Every month let them receive the latest news and analysis on Global Governance issues.


Give the perfect gift for the new year for your friends and loved ones and allow them to enjoy, understand and learn today's clear and not so clear Global Governance issues.


Let your next Christmas gift be an exploration in the new world of Global Governance.

“Gold IS NOT an ‘investment’. It is money.” James Turk Explains

Tuesday, 24. November 2009


Gold market authority James Turk talks in an exclusive interview for MMNews about the demise of the US-Dollar, correlations between gold and oil, Germany’s gold reserves and the plan for a global single currency.

By Lars Schall

James Turk, a widely respected figure in the precious metal markets, has grown up in the “Buckeye State” of Ohio. He graduated with a B.A. degree in International Economics at George Washington University in 1969. Afterwards he worked eleven years for Chase Manhattan Bank, with assignments for the International Department in Thailand, the Philippines and Hong-Kong. From 1980 – 1983, Mr. Turk was with RTB, Inc., a private investment and trading company. He subsequently served the next four years as the head of the Commodity Department of the Abu Dhabi Investment Authority in the United Arab Emirates. In 1987 he began the “Freemarket Gold & Money Report”, a subscription-based investment newsletter that earlier this year became a free online service (http://www.fgmr.com). Until 1995 he was the Chief Executive of Greenfield Associates, which specialized in investment research and trading advice for hedge funds, commodity traders and investment managers. From 1995 – 1999, Mr. Turk was a Director of Lion Resource Management Ltd., a London-based firm which advised funds that invested in the equities of companies involved in the mining and exploration of precious metals. In 2001, he launched GoldMoney, a patented digital gold currency that allows the instant transfer of gold, silver and platinum between user holdings. GoldMoney is the largest digital gold currency in the world. For more information on this visit: http://goldmoney.com/index/html. Moreover, Mr. Turk is the author of “The Illusions of Prosperity” (1985), “Social Security: Lies, Myths and Reality” (1992), several monographs on money and banking, and the co-author of a book which has attracted considerable international attention: “The Coming Collapse of the Dollar and How to Profit from It: Make a Fortune by Investing in Gold and Other Hard Assets”, published by Doubleday and in December 2004 updated in a paperback version entitled “The Collapse of the Dollar” (visit: www.dollarcollapse.com). He frequently speaks at investment conferences on gold, money, and the international banking system. Mr. Turk lives in London.

Click here for entire interview.

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Boo! CIT Zombie Lender Unveiled And Walking Among The Other Dead Chapter 11's

CIT Files Bankruptcy; U.S. Unlikely to Recoup Money (Update3)

Nov. 1 (Bloomberg) -- CIT Group Inc., a 101-year-old commercial lender, filed for bankruptcy to cut $10 billion in debt after the credit crunch dried up its funding and a U.S. bailout and debt exchange offer failed.

CIT listed $71 billion in assets and $64.9 billion in debt in a Chapter 11 filing in U.S. Bankruptcy Court in Manhattan. The U.S. Treasury Department said the government probably won’t recover much, if any, of the $2.3 billion in taxpayer money that went to CIT.

Click here for entire article

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UBS AG Confirms $2.8 Million Embezzlement, Back Door Tax Knocksout Americans, Bernie The Goniff Partner Dead In Swimming Pool

Swiss Bank Employee Embezzles $2.8M to Fund Gambling Habit

Monday, October 26, 2009

NEUHAUSEN AM RHEINFALL, Switzerland — Swiss police say a bank employee has admitted stealing millions from the bank's safe to fund her $60-89,000 a week gambling habit.

Police in the northern canton of Schaffhausen say the 41-year-old woman confessed to embezzling $2.8 million over the course of five years.


Click here for entire article

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Back-Door Taxes Hit Americans With Public Financing in the Dark

Oct. 26 (Bloomberg) -- Salvatore Calvanese, the treasurer of Springfield, Massachusetts, for four years, had a ready defense for why he risked $14 million of taxpayer money on collateralized-debt obligations laden with subprime mortgages in 2007.

He didn’t know what he was buying, he says, and trusted the financial professionals who sold them and told him they were safe.

“I thought they were money markets that were just paying more,” Calvanese said in an interview. “Nobody ever used the term ‘CDO,’ and I am not sure I would have known what that was anyway.”

Such financial mistakes, often enabled by public officials’ lack of disclosure and accountability for almost 90 percent of government financings in the $2.8 trillion municipal bond market, are costing U.S. taxpayers as much as $6 billion a year, according to data compiled by Bloomberg in more than a dozen states.

The money lost to taxpayers -- when the worst recession since the Great Depression is forcing local governments to cut university funding, delay paying bills and raise taxes -- is enough to buy health care for everybody in Minneapolis; Orlando, Florida; and Grand Rapids, Michigan, according to figures from the U.S. Census Bureau and the U.S. Department of Health and Human Services.

Click here for entire article

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Madoff Billionaire Found Dead in Palm Beach Swimming Pool

Jeffry Picower 'Cleared' $7 Billion in Ponzi Scheme; Faced Civil and Possible Criminal Charges

The man who made $7 billion in the Bernie Madoff Ponzi scheme, Jeffry Picower, was found dead in his Palm Beach, Fla., swimming pool Sunday.

The Palm Beach Fire Department told ABC News that Picower had no pulse when fire rescue workers arrived at his oceanfront mansion after his wife called 911. She and his housekeeper pulled his body from the pool shortly after noon.

No one benefited more from the Madoff scheme that Picower, according to bankruptcy lawyers who sued him and alleged he had taken out $7 billion more than he had put in.

Click here for entire article

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Correction!!! 106 Failures And Hundreds More To Follow PLUS Catherine Austin Fitts "The Slow Burn" Hits The Mark

Bank Failures Top 100 for Year, Most Since 1992

The number of banks that have failed so far this year topped 100 on Friday -- hitting 106 by the end of the day -- the most in nearly two decades.

WASHINGTON - It's a big number that only tells part of the story.

The number of banks that have failed so far this year topped 100 on Friday -- hitting 106 by the end of the day -- the most in nearly two decades. But the trouble in the banking system from bad loans and the recession goes even deeper.

Dozens, perhaps hundreds, of other banks remain open even though they are as weak as many that have been shuttered. Regulators are seizing banks slowly and selectively -- partly to avoid inciting panic and partly because buyers for bad banks are hard to find.

Click here for entire article

***

THE SLOW BURN

People often ask whether I am concerned about inflation, deflation, peak oil, or a global financial meltdown. My answer is as follows.

The future is something to be created, rather than feared. Allocating our time, networks, and resources to deal with a variety of high-risk scenarios frees us to become proactive and to build positive futures instead of negative ones. I like to understand what these scenarios mean in terms of managing risk and to know how we can succeed within all possible futures.

But my business is investment, not prophecy.

The risk scenario I weight most heavily is not listed above. I call it the “Slow Burn.”

The “slow burn” is a political culture and economy managed through principles of economic warfare in which insiders systematically protect themselves and centralize control and ownership of resources by using:

• Central banks
• Currency and lending systems
• Taxation
• Regulatory and enforcement policies
• Controlled media and entertainment
• 
  

Insiders use these means to drain the time, resources, and life of people on the outside. Although insider cartels compete and jockey for power, they are able to settle their squabbles by increasing control and draining everyone and everything else. This is why the bubble economy continues to deplete the real economy. It is likely the reason why Dick Cheney said, “Deficits don’t matter.”

Click here for Catherine's Most Excellent article. On behalf of our subscribers and frequent readers, "Thank You Catherine."

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Right On The Money

Robert MorleyColumnist

Right on the Money

October 20, 2009 | From theTrumpet.com

Do you remember the following words? They are coming true before your eyes today!

Robert Morley

“Can you realize how fast events are happening in the world?

“You have seen that the U.S. dollar—long thought of as the stablest currency in the world—is in immediate jeopardy of being devalued!

“That means that it will take you more dollars to buy the same amount of imported goods. If the dollar is devalued, inflation will almost surely result—and eventual economic collapse for the United States.

“Those of you who truly believe the prophecies of your Bible know such economic collapse is prophesied to happen!

“And now, in almost daily news, comes the frightening development of a rush on gold …. What does this all mean? It means that at any time now, you could suddenly awake to find you have only about half the ‘money’ you thought you possessed—or that your purchasing power has been drastically reduced, overnight!

“Should the dollar collapse, it could well mean a repetition of the disastrous depression that strangled the economic world in 1929!

“The final crisis is fast descending upon us.”

Click here for entire Trumpet article

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And Everybody Pays...Wall Street Insider Trading Includes Bear Stearns Alumni + Transactions In Companies Like Google, AMD, Hilton and Sun.

8 Trades the Insiders Allegedly Made

by Michael Copeland


Monday, October 19, 2009 provided by

The government's case against the Galleon crew includes transactions in companies like Google, AMD, Hilton and Sun.

The government's case in what it is calling the largest insider trading case involving a U.S. hedge fund contains a detailed list of trades involving household-name companies.

Investigators have pieced together a case that alleges more than $25 million in illegal gains based on trading in 2006-09 on companies including Advanced Micro Devices (AMD), Akamai (AKAM), Clearwire (CLWR), Google (GOOG), Hilton, Polycom (PLCM) and Sun Microsystems (JAVA), among others.

Click here for entire article

***

Accused Inside Trader Is Bear Stearns Alumni

As the fraud trial of two former hedge-fund managers from Bear gets underway, the former head of their division gets arrested in the Galleon insider-trading scandal

By William D. Cohan, contributor

Last Updated: October 19, 2009: 12:59 PM ET

NEW YORK (Fortune) -- The $20 million insider-trading ring that the U.S. government alleges was masterminded by billionaire hedge-fund manager Raj Rajaratnam also included two former Bear Stearns hedge-fund managers. According to two federal complaints, two of Rajaratnam's partners in the alleged crimes were Mark Kurland, of Mount Kisco, N.Y., and Danielle Chiesi of New York City. Both Kurland, 60, and Chiesi, 43, were arrested last week, along with Rajaratnam, and charged with insider trading. Bail for Kurland was set at $3 million and for Chiesi at $2 million (Rajaratnam's was set at $100 million).

Click here for entire article

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And Everybody Pays...Galleon’s Rajaratnam Charged in Biggest Hedge Scheme Ever...GAO: Debt could break record in 10 years

“The defendants operated in a world of, you scratch my back, I’ll scratch your back,” U.S. Attorney Preet Bharara in Manhattan said at a press conference today. “Greed, sometimes, is not good.”

It’s the largest ever hedge fund insider trading case, Bharara said. It’s the first time wiretaps have been used to target insider trading, signaling the government will now use the same tools against Wall Street that it employs in organized crime and drug cases, he said. Bharara called the case “unprecedented.”

Click here for Bloomberg article

***

Government Accountability Office Reports $9.1 Trillion Federal Budget Deficit IS ON ITS WAY!!!!!!

The nation's long-term fiscal outlook remains unsustainable, according to a new Government Accountability Office analysis showing escalating levels of debt and a surging budget deficit.

The GAO report comes as CBO is expected to announce on Friday the fiscal 2009 deficit will hit a record $1.4 trillion, or 9.9 percent of GDP. It will total $9.1 trillion over the next decade, in line with estimates that were made earlier this month.

Click here for entire article

***

Billionaire Among 6 Nabbed In Inside Trading Case

By LARRY NEUMEISTER and CANDICE CHOI (AP) – 18 minutes ago

NEW YORK — One of America's wealthiest men was among six hedge fund managers and corporate executives arrested Friday in a hedge fund insider trading case that authorities say generated more than $25 million in illegal profits and was a wake-up call for Wall Street.

Raj Rajaratnam, a portfolio manager for Galleon Group, a hedge fund with up to $7 billion in assets under management, was accused of conspiring with others to use insider information to trade securities in several publicly traded companies, including Google Inc.

U.S. Magistrate Judge Douglas F. Eaton set bail at $100 million to be secured by $20 million in collateral despite a request by prosecutors to deny bail. He also ordered Rajaratnam, who has both U.S. and Sri Lankan citizenship, to stay within 110 miles of New York City. The judge gave prosecutors until shortly after 6 p.m. to consider appealing his bail ruling.

U.S. Attorney Preet Bharara told a news conference it was the largest hedge fund case ever prosecuted and marked the first use of court-authorized wiretaps to capture conversations by suspects in an insider trading case.

He said the case should cause financial professionals considering insider trades in the future to wonder whether law enforcement is listening.

Click here for entire article

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Follow The Money...Honey

Description: Headquarters of the European Central Bank in Frankfurt, Germany, highlights the wealthiest region in the world. (Getty Images)

Follow The Money

October 8, 2009 | From theTrumpet.com

The world’s richest region is now Europe. It indicates where the world’s next superpower will come from.


By David Vejil

War is not so much a matter of weapons as of money. This was said by the founder of the realist school of international relations, Greek historian Thucydides. His famous History of the Peloponnesian War, the war between Athens and Sparta in the fifth century b.c., stressed the influence of political leadership and war on the existence of civilization. He also observed that wealth is essential for a civilization to dominate.

Click here for entire article

Position yourself with correct Global Governance analysis. Invest in tomorrows decisions today. Do It Now! - Johnny

The Economic Recovery Is An Illusion

The Bank for International Settlements (BIS) Warns of Future Crises

by Andrew Gavin Marshall

War is Peace, Freedom is Slavery, Ignorance is Strength, and Debt is Recovery

In light of the ever-present and unyieldingly persistent exclamations of ‘an end’ to the recession, a ‘solution’ to the crisis, and a ‘recovery’ of the economy; we must remember that we are being told this by the very same people and institutions which told us, in years past, that there was ‘nothing to worry about,’ that ‘the fundamentals are fine,’ and that there was ‘no danger’ of an economic crisis.

Why do we continue to believe the same people that have, in both statements and choices, been nothing but wrong? Who should we believe and turn to for more accurate information and analysis? Perhaps a useful source would be those at the epicenter of the crisis, in the heart of the shadowy world of central banking, at the global banking regulator, and the “most prestigious financial institution in the world,” which accurately predicted the crisis thus far: The Bank for International Settlements (BIS). This would be a good place to start.

The economic crisis is anything but over, the “solutions” have been akin to putting a band-aid on an amputated arm. The Bank for International Settlements (BIS), the central bank to the world’s central banks, has warned and continues to warn against such misplaced hopes.

Click here for entire article

Stay out of the illusion and subscribe to the monthly Global Governance newsletters. Invest in today's analysis for tomorrows decisions. - Johnny

Moving Through America's Twilight: Bank Failure Friday's And Bank Failure Insurance

Banks Have Us Flying Blind on Depth of Losses

Commentary by Jonathan Weil

Oct. 1 (Bloomberg) -- There was a stunning omission from the government’s latest list of “problem” banks, which ran to 416 lenders, a 15-year high, as of June 30. One outfit not on the list was Georgian Bank, the second-largest Atlanta-based bank, which supposedly had plenty of capital.

It failed last week.

Georgian’s clean-up will be unusually costly. The book value of Georgian’s assets was $2 billion as of July 24, about the same as the bank’s deposit liabilities, according to a Federal Deposit Insurance Corp. press release. The FDIC estimates the collapse will cost its insurance fund $892 million, or 45 percent of the bank’s assets. That percentage was almost double the average for this year’s 95 U.S. bank failures, and it was the highest among the 10 largest ones.

Click here for entire article

***

IMF Eyes Bank Failure Insurance

Kevin Carmichael

Istanbul — Last updated on Friday, Oct. 02, 2009 10:43AM EDT

The International Monetary Fund appears poised to throw its weight behind the idea of requiring banks to pay for financial crisis insurance.

Speaking to reporters as economic officials from around the world gather for several days of meetings in Turkey's biggest city, Managing Director Dominique Strauss-Kahn said the IMF will spend the next several months reviewing proposals that would see banks set aside a portion of their profits to mitigate the cost of systemic failure.

Leaders from the Group of 20 commissioned the study after their summit in Pittsburgh last week. While still far from making any conclusions, Mr. Strauss-Kahn signalled that he is sympathetic to the idea, saying governments could force financial institutions to contribute to a fund that could act as insurance or help low-income countries that end up sideswiped by another global credit crisis.

Click here for entire article

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Sibel Edmonds: Bearing The Fruits Of Truth On Global Governance Corruption

Who’s Afraid of Sibel Edmonds?

I would say...

Christian Zionists, Judaics, Churchianity, Congress, AIPAC, ADL, AJC, NATO, The European Union, Brussels Belgium, Marc Grossman, Turkey, Former U.S. President George Bush Jr., Former Vice President Dick Cheney, Former President Bill Clinton, ISI—Pakistani Intelligence, The Israeli Embassy, The American Turkish Council, The Assembly of Turkish American Associations, Richard Perle, Douglas Feith, Pentagon Officials, The RAND Corporation, The New York Times, Northrop Grumman, James Baker, Brent Scowcroft, Wolfowitz, Defense Department officials, Richard Armitage, Operation 9/11 Members, Former Iraqi Officials, The Massachusetts Institute of Technology, nuclear facilities like Sandia or Los Alamos, Former House Speaker Dennis Hastert, Bob Livingston, Dan Burton, Tom Lantos, Douglas Feith, the Monica Lewinsky scandal entourage, Foreign Espionage Associates In Chicago, Democratic Congresswoman Jan Schakowsky, U.S. Government - Turkish Paramilitary Groups, Drug/Gun Money, Military Drug Distribution Centers, Chicago, Paterson, New Jersey, The State Secrets Privilege aherents, President Barack Hussein Obama, Germany and Italy.

Sibel Edmonds has a story to tell. She went to work as a Turkish and Farsi translator for the FBI five days after 9/11. Part of her job was to translate and transcribe recordings of conversations between suspected Turkish intelligence agents and their American contacts. She was fired from the FBI in April 2002 after she raised concerns that one of the translators in her section was a member of a Turkish organization that was under investigation for bribing senior government officials and members of Congress, drug trafficking, illegal weapons sales, money laundering, and nuclear proliferation. She appealed her termination, but was more alarmed that no effort was being made to address the corruption that she had been monitoring.

Click here for entire article


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Germany's Oktoberfest Shelters Voters Under Fire Intoxicating Angela To Global Governance E.U. Lead

Since 1978, I've observed, comprised and assembled various color pallets of today's Global Governance which still finds most commentators aloof on various rabbit trails that The Trust wishes all to find. This weekend should have pointed many to the obvious, but, like many rabbit trails it wasn't pieced together...so... lets try this again.

In Germany, a very very important election occurred.

An election marked by the ghost or apparition of Osama Bin Laden's entourage in various videos.

"Leave Afghanistan or lose Oktoberfest".

A "No Fly Zone" over Oktoberfest was issued.

Does this sound familiar?

This tactic has been used many many times before and The Trust knows that, have we forgotten already?

Go back to Thursday when the Prime Minister of New Zealand said to NATO that time lines for Afghanistan troop withdrawal are now being considered and planned.

"It's a mistake", implores Defense Secretary Robert Gates.

If you wish to step back and find out more about the artistry of mosaic Global Governance subscribe to the monthly newsletter. Do It now! - Johnny

German police officers on patrol at the 176th Oktoberfest in Munich, which is expected to attract about six million visitors. Photo / AP

Election Security Beefed Up Amid Terror Threats

4:00AM Monday Sep 28, 2009

Click here for entire article

Bank Failures Scores 94. End Of Year May See 300+ More. FDIC May Tap Treasury.

U.S. Bank Failures Rise To 94

By John Letzing, MarketWatch

SAN FRANCISCO (MarketWatch) -- Two Irwin Union Bank subsidiaries in Kentucky and Indiana were closed by regulators Friday, bringing the total number of U.S. bank failures this year to 94 and punching an $850 million hole in the federal deposit insurance fund.

Click here for entire article

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First Bank Failures Announced In Indiana; Kentucky

The first bank failures in Indiana and Kentucky were announced, Friday. The Federal Deposit Insurance Corporation announced it was appointed receiver for Louisville, Kentucky-based Irwin Union Bank, F.S.B., and Columbus, Indiana-based Irwin Union Bank and Trust Co., by the Office of Thrift Supervision and the Indiana Department of Financial Instutions, respectively.

The two failed banks have a total of 27 bank branches and are subsidiaries of the Columbus, Indiana-based Irwin Financial Corporation. Irwin Union Bank and Trust Co. had a total of $2.7 billion in assets and deposits of $2.1 billion, and Irwin Union Bank had total assets of $493 million and deposits of $441 million as of Aug. 31, of this year.

Click here for article

***

More Bank Failures Coming

September 17, 2009 — 6:27pm ET | By Jim Kim

Read more: http://www.fiercefinance.com/story/more-bank-failures-coming/2009-09-17#ixzz0RWO5obbt

So far this year, the Federal Deposit Insurance Corp. has shut down 92 banks. That compares with 25 banks last year. Business Week notes that this might be seen as surprisingly few closures. During the last banking crisis, 381 banks were seized in 1990, 268 in 1991, and 179 in 1992. But the crisis isn't over, and the pace of bank failures is picking up.

Three banks failed over the last few days, including Corus Bank of Illinois. Since July 1, the FDIC has closed down 47 banks. Meredith Whitney predicted not too long ago that 300 banks would fail this year. That's looking more and more prescient every week. Real estate, retail and especially commercial, remains the culprit. Construction loans are also creaking right now.

Click here for entire article

***

FDIC chief considers tapping Treasury for funds

By DANIEL WAGNER (AP) – 10 hours ago

WASHINGTON — The chairman of the Federal Deposit Insurance Corp. says she is "considering all options, including borrowing from Treasury," to replenish the dwindling fund that insures bank deposits.

"I never say never," FDIC Chairman Sheila Bair told an audience at Georgetown University Friday.

Bair's remarks go beyond what she said just three weeks ago when asked about tapping the Treasury after the fund that insures regular deposit accounts up to $250,000 hit its lowest point since 1992, at the height of the savings-and-loan crisis. "Not at this point in time," she said on Aug. 27.

Click here for entire article

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Europe Speaks With One Voice On Financial Reform Ahead Of Pittsburgh G20 Summit

"Europe is going united to Pittsburgh with a clear and strong message: We don't want this to ever happen again," French President Nicolas Sarkozy said.

"It will be the task of those who go to Pittsburgh to convince our American friends that we have to get the international finance community to accept new rules of behavior," Luxembourg Prime Minister and Eurogroup head Jean-Claude Juncker told German public radio.

Disagreement over Tobin tax proposal

But there was some disagreement from the 27 EU members over proposals by Germany to levy a global tax on financial transactions that could act as a buffer against future economic setbacks.

Click here for entire DW article

And everybody pays. Global Governance issues are moving. Stay ahead and prepared by subscribing to the monthly newsletter today! - Johnny

Suicide Money - And Everybody Pays

Thank You, Catherine Austin Fitts - Johnny

Solari Blog

Rockefeller & Co. CEO Dies From Gunshot Wound

Catherine and News & Commentary,

September 15, 2009 at 10:09 pm

By Charles Stein

James McDonald, chief executive officer of New York investment firm Rockefeller & Co., died Sunday, apparently from a self-inflicted gunshot wound, according to the Bristol County district attorney’s office in New Bedford, Massachusetts.

McDonald was found in a car behind an auto dealership in Dartmouth, Massachusetts, said Gregg Miliote, a spokesman for the district attorney’s office. He appeared to have shot himself, though the matter is still under investigation, Miliote said.

Continue reading Rockefeller Chief Executive McDonald Dies

Financier Finn Casperson Dead in “Apparent” Suicide

Catherine and News & Commentary,

September 15, 2009 at 9:09 pm

By Kim LaCapria

Ex-CEO of Beneficial Corp. Finn H.W. Casperson was found dead in an apparent suicide behind an office building in Westerly, Rhode Island.

Casperson, 67, was discovered dead of what appeared to be a self-inflicted gunshot wound on September 7th, after police were asked to “check on” him. Casperson came from a wealthy family and moved with powerful people, and he was known for his political influence, fundraising and philanthropy.

Continue reading Financier Finn Casperson Dead in Apparent Suicide

Allegations re Casperson and UBS Tax Case

Blagojevich Fundraiser Found Dead

Catherine and News & Commentary,

September 15, 2009 at 8:09 pm

By Jesse Solomon and Justin Lear

Police are investigating the death of the former chief fundraiser for ex-Illinois Gov. Rod Blagojevich as a “death-suicide,” an Illinois mayor said Sunday.

Financier Christopher Kelly told police shortly before he died Saturday that he took an “overdose of drugs,” said Dwight Welch, mayor of Country Club Hills, Illinois.

Country Club Hills police found several drugs in Kelly’s black 2007 Cadillac Escalade, but they were not sure yet whether they were prescribed, Welch said. Country Club Hills is about 27 miles south of Chicago.

Kelly had recently undergone surgery and was taking drugs following the operation, Welch said. Welch said he did not know which drugs Kelly was taking.

Kelly, 51, of Burr Ridge, Illinois, was pronounced dead at Stroger hospital in Cook County at 10:46 a.m. Saturday, hospital spokesman Marcel Bright told CNN.

Continue reading Dying Blagojevich Fundraiser Said he Overdosed, Mayor Says

Newport Beach Financier Danny Pang Dies at 42

Catherine and News & Commentary,

September 15, 2009 at 6:09 pm

By Ruben Vives and Louis Sahagun

Newport Beach financier Danny Pang died early Saturday at a local hospital, according to the Orange County coroner’s office. The cause of death has not been determined and an autopsy is planned for Sunday, said Larry Esslinger, supervising deputy coroner.

Police officers were dispatched to Pang’s home in the 2600 block of Crestview Drive about 3:30 p.m. Friday on a “medical assistance call,” said Sgt. Doug Jones of the Newport Beach Police Department.

Pang was pronounced dead at Hoag Memorial Hospital at 5:12 a.m. Saturday, Esslinger said. He had no further details.

The 42-year-old Pang has been accused by the government of operating a Ponzi scheme and of taking at least $83 million in inflated fees, salary and loans from his investment firm before it was seized by federal regulators in April. He had denied wrongdoing.

Continue reading Newport Beach Financier Danny Pang Dies at 42

And today, Gold closes at an all time high while Silver ROARS!!!! Understand and formulate today's Global Economic and Global Governance issues like this by subscribing to the monthly newsletter. Do it now! -Johnny

Germany Wants Global Tax On All Financial Markets - Idea To Be Pushed In Pittsburgh G20 Summit

UPDATE 1-Germany's SPD Woos Left With Tax On Financial Deals

Fri Sep 11, 2009 10:00am EDT

* SPD unveils plan to tax financial transactions

* Step could be aimed at wooing left-wing voters

By Hans Busemann

BERLIN, Sept 11 (Reuters) - Germany's Social Democrats (SPD) have unveiled plans to push for a global tax on financial market transactions, in an apparent attempt to win over left-leaning voters weeks before election polls suggest they will lose.

In a paper by SPD chancellor candidate Frank-Walter Steinmeier and Finance Minister Peer Steinbrueck, the party outlines steps to make banks bear some of the costs of the economic crisis.

Click here for entire article

***

Steinbrück Seeks Global Tax

By Bertrand Benoit in Berlin , Financial Times, 11 Sep 2009

Germany's finance minister has called for a global tax to be imposed on financial transactions in an effort to end what he derided as "binge-drinking" on markets.

In one of the more radical steps mooted by a world leader to reform the financial system, Peer Steinbrück said receipts from the tax would be used to repay the cost to governments of tackling the crisis, including fiscal stimuli and bank rescue operations.

Click here for entire article


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World Economic Forum Summer Davos 2009 Dalian, China

***REMEMBER***

#1. REASON TO SAY NO TO GLOBAL GOVERNANCE:

Global Central Bank corruption, fraud and abuse with no accountability

***

Switzerland Number 1

United States Number 2


Old Models Must Change For Economic Recovery To Be Sustainable

Switzerland tops the overall ranking in The Global Competitiveness Report 2009-2010.

The United States falls one place to second position, with weakening in its financial markets and macroeconomic stability. Singapore, Sweden and Denmark round out the top five.

European economies continue to prevail in the top 10 with Finland, Germany and the Netherlands following suit.

The United Kingdom, while remaining very competitive, has continued its fall from last year, moving down one more place this year to 13th, mainly attributable to continuing weakening of its financial markets.

The rankings are calculated from both publicly available data and the Executive Opinion Survey, a comprehensive annual survey conducted by the World Economic Forum together with its network of Partner Institutes (leading research institutes and business organizations) in the countries covered by the Report.

Download full report here

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China Journal

How China is changing - and changing the world

• From Kobe With Love
• 
  

• September 13, 2009, 11:06 AM ET

Dollar Gets Roughed Up In Unusually Heated World Economic Forum Panel

Among the more interesting moments of the World Economic Forum that wrapped up Saturday in Dalian occurred on the final morning, when a panel on Asia’s foreign-currency exposure turned into an unusually contentious discussion on the future of the U.S. dollar.

In front of CNBC cameras, Yu Yongding, an academic who was formerly an advisor to the Chinese central bank, got the discussion off on a decidedly bearish tone for the dollar, with strong criticism of public finances in the U.S.

“The U.S. has been running a current account deficit for more than 26 years now, and they are accumulating huge foreign debt, and now they are running huge budget deficits. According to very optimistic estimations, within ten years, they will continue to run budget deficits,” he said.

Yu said he strongly supports a proposal by People’s Bank of China Governor Zhou Xiaochuan to develop of a new international reserve currency based on Special Drawing Rights, a kind of synthetic currency created by the International Monetary Fund in the 1960s. But he acknowledged that the SDR cannot replace the US dollar “at this stage.”

Click here to read entire Wall Street Journal article

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World Economic Forum Competiveness Report drops US to #2

September 9, 8:26 AM

San Diego Economy Examiner

Mark Vargus

The World Economic Forum has produced a new study on the competitiveness of each of the worlds many nations. This report is available as a nearly 500 page pdf file, and shows some surprising elements as they downgraded the US from the most competitive economy in the world to second behind Switzerland.

And competitiveness is important as the report writer notes in the first pages as he writes:

Competitive economies are those that have in place factors driving the productivity enhancements on which their present and future prosperity is built.

And this has been the great advantage the US has maintained in the economic world and part of why the US economy is bigger than the combined economies of Japan and China (the nations with the #2 and #3 economies by annual GDP). Actually you could add in Germany (#4) and the UK and only barely beat the US. But the report indicates that the economists of the World Economic Forum are worried about the situation in the US.

Their analysis is simple, but elegant and they note:

We define competitiveness as the set of institutions, policies, and factors that determine the level of productivity of a country. The level of productivity, in turn, sets the sustainable level of prosperity that can be earned by an economy.

It’s a good point. And plays into the analysis.

Click here for entire San Diego Economy Examiner article

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