Barclays bank and Rothschilds linked to private Swiss company running squalid refugee camps

August 14, 2015

The private Swiss company ORS, which has been given contracts to run refugee centres in Austria, Switzerland and Germany, has financial links to Barclays Bank and the Rothschild banking family, according to Austrian media.

Overcrowded refugee centres have become places of shocking suffering, squalor as well as social and political tension. Now we know these camps have also become lucrative business for the banks.

Germany considers reintroducing DM again

August 14, 2015

Germany prepared emergency plans to return to the DM in 2012.

Now sources in Germany are reporting that German officials are once more considering an euro exit as the eurozone fractional reserve debt crisis escalates.

Ashoka Mody recently argued that a German euro exit would allow the rest of the Eurozone to devalue and regain competitiveness.

He also argues that Germany’s brazen selfishness in running a high export surplus and austerity has a high political cost.  Germany has consistently pushed the catastrophic policies of debt death austerity for countries like Greece and Spain while maintaining every advantage it can for itself.

With incredible short sightedness, Germany has squandered every opportunity to tackle the root cause of the Eurozone crisis. It has failed to use its clout to switch the Eurozone over from the private creation of money to sovereign money and implement the Chicago Plan Revisited.

It has failed to publicize the need for the change, to get the people to support the change and to carry the change through in spite of being the Eurozone’s most powerful member. As the main actor in the unfolding Eurozone crisis, Germany need never fear being accused of competence again.

New elections likely in Greece, throwing bailout agreement in doubt

August 14, 2015

Greek lawmakers approved a draft bailout deal Friday in the hope of ensuring the country’s place in the euro, but the Prime Minister Alexis Tsipras suffered his biggest rebellion yet, and is to call a vote of confidence.

If Tsipras fails to win a vote of confidence, it will trigger new elections, which will put the whole agreement in doubt, prolonging the chaos in Greece.

As Syriza splits, former Finance Minister Yannis Varoufakis is also trying to wrest control of any movement of genuine opposition to the bailout.

A US equity company headed by a former director of the CIA controls the IT company responsible for every aspect of an election in Greece, raising doubts about just how fair any election result will be. It is not clear if a rapid reform of the election system is part of the reforms demanded of Greece.

Greece develops alternative currencies for trade

August 14, 2015

The WSJ calls the alternative currencies developing in Greece a “sophisticated form of barter.”

They are not a sophisticated form of barter. These currencies are performing the original function of money, which is to facilitate trade.


August 14, 2015

Former Anglo Irish Bank chairman Seán FitzPatrick is facing a number of charges including making a misleading, false or deceptive statement to auditors and of furnishing false information from 2002 to 2007 in his trial before Dublin Circuit Criminal Court in October. But it is not clear, if he will face the more serious charge of defrauding the tax revenue.

During a trial of  three former officials of Anglo Irish Bank for hiding offshore accounts, it emerged that Sean Fitzpatrick was the main mover and prime beneficiary of the tax fraud. All the accounts involved had links to Fitzpatrick.

Yet not even the pleas of Senior Counsel Sean Guerin, representing a former company secretary at Anglo, who carried out fraud on instructions, could bring judge Patrick McCartan to charge FitzPatrick in relation to the now proven fraud, even though the case against Fitzpatrick was stronger than the case against now jailed staff.

It is unacceptable that Judge McCartan has shown blatant favouritism towards the Anglo banker Fitzpatrick. It is unacceptable that Fitzpatrick was not on trial, and unacceptable that the jury did not have to form any conclusion about his culpability. It is also unacceptable that tax fraud does not appear to be one of the charges Fitzpatrick faces in October.

Judge McCartan must be investigated. His refusal to apply the law in the Fitzpatrick case requires an explanation. Many Irish people will immediately think in terms of offshore bank accounts, a suspicion McCartan will certainly not want hanging in the air. It is imperative that an investigation is launched into any personal or financial links between McCartan and Anglo banker FitzPatrick and his circle to restore confidence in the justice system.

Bankers like Fitzpatrick cannot be too big to jail. And nor should judges like McCartan be too big to fail.


August 14, 2015

More than a thousand customers of Permanent TSB in Ireland have been found to have been overcharged in their mortgage payments, with some apparently losing their houses as a result, and yet they have been offered almost no compensation.

A couple had to resort to bringing High Court proceedings against Permanent TSB  to be repaid the full €61,000 they were overcharged in a period of six years.  They are also seeking damages for alleged breach of contract, unlawful interference with their economic interests and punitive and exemplary damages.

PTSB’s originally offered the couple compensation of just €5,798.92, making an acceptance a condition for the repayment of the full €61,000.


August 12, 2015
Human Rights Watch says the World Bank critics were attacked by local governments, with almost complete impunity, reports Mitchell Thompson.

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