Bullshit Artists

Top Treasury Official: ‘Too Big to Fail’ Bailouts Are Over

"U.S. banks won’t be rescued by taxpayers, U.S. Treasury Department official Mary Miller said, rebutting investor skepticism that some lenders are too large to be allowed to fail. 'With respect to this understanding of too-big-to-fail, let me be very clear: It is wrong.' 'No financial institution, regardless of its size, will be bailed out by taxpayers again,' Miller said at a conference in New York. 'Shareholders of failed companies will be wiped out; creditors will absorb losses; culpable management will not be retained and may have their compensation clawed back.'" Continue reading →

Continue ReadingTop Treasury Official: ‘Too Big to Fail’ Bailouts Are Over

Mark Carney: Canadian deposits safe under bail-in, but no guarantee

"Mark Carney says policy-makers are working diligently to devise an international 'bail-in' regime to prevent big bank failures, but he offered no guarantee that individual deposits would be protected. The Canadian central banker, who is a few months away from heading the Bank of England, says banks must have a set of buffers in place to draw on in an emergency. He notes the Canadian government has pledged not to dip into individual deposits. Carney did not answer whether there should be a total hands-off treatment to non-secured accounts as well, which in Canada would mean deposits over $100,000." Continue reading →

Continue ReadingMark Carney: Canadian deposits safe under bail-in, but no guarantee

Could the Cops Be Lying in Boston? Surely Not!

"During the occupation of Boston it was widely reported that the bombing suspects had robbed a 7/11. That turned out to be false. The robbery was perpetrated by others. That's right; with a massive police state presence, criminals were undeterred. But how convenient for officials to let the story float for nearly a day? It's looking like that is not the only whopper coming from officials (shocking, I know). Police Chief Wiggum's story about the 'shootout' in the early hours of Friday morning is completely contradicted by an eye-witness. She says the cops ran over the older brother, and then, in what seemed to be retaliation, filled him full of lead." Continue reading →

Continue ReadingCould the Cops Be Lying in Boston? Surely Not!

Central Bankers Admit They Are Flying Blind

"Growing concern at the International Monetary Fund over the long-term side-effects of interest rates close to zero came as some of the leading figures in central banking conceded they were flying blind when steering their economies. It is troubling for monetary policy experts that their crisis-fighting tools - rates stuck at zero, money printing operations to bring down longer-term interest rates and encourage private sector spending, and efforts to calm financial market fears - might have nasty side-effects. The central bankers were clear that they had got it wrong before the crisis, lulled into thinking they had eliminated financial vulnerabilities." Continue reading →

Continue ReadingCentral Bankers Admit They Are Flying Blind

Drug czar: No state can nullify federal marijuana ban

"President Barack Obama’s drug czar toed a strict line on marijuana Wednesday, saying federal laws will prevail regardless of state-level efforts to legalize pot. Gil Kerlikowske said enforcement of the Controlled Substances Act of 1970 — which ranks marijuana as a Schedule One drug alongside heroin, LSD and ecstasy — remains in the hands of the US Department of Justice. 'No state, no executive can nullify a statute that has been passed by Congress,' the director of the White House Office of National Drug Control Policy told a National Press Club luncheon." Continue reading →

Continue ReadingDrug czar: No state can nullify federal marijuana ban

Drug czar: No state can nullify federal marijuana ban

"President Barack Obama’s drug czar toed a strict line on marijuana Wednesday, saying federal laws will prevail regardless of state-level efforts to legalize pot. Gil Kerlikowske said enforcement of the Controlled Substances Act of 1970 — which ranks marijuana as a Schedule One drug alongside heroin, LSD and ecstasy — remains in the hands of the US Department of Justice. 'No state, no executive can nullify a statute that has been passed by Congress,' the director of the White House Office of National Drug Control Policy told a National Press Club luncheon." Continue reading →

Continue ReadingDrug czar: No state can nullify federal marijuana ban

Drug czar: No state can nullify federal marijuana ban

"President Barack Obama’s drug czar toed a strict line on marijuana Wednesday, saying federal laws will prevail regardless of state-level efforts to legalize pot. Gil Kerlikowske said enforcement of the Controlled Substances Act of 1970 — which ranks marijuana as a Schedule One drug alongside heroin, LSD and ecstasy — remains in the hands of the US Department of Justice. 'No state, no executive can nullify a statute that has been passed by Congress,' the director of the White House Office of National Drug Control Policy told a National Press Club luncheon." Continue reading →

Continue ReadingDrug czar: No state can nullify federal marijuana ban

Marijuana Stocks Are Extremely Dangerous Investments

"At this stage I do not believe there is a single reputable marijuana stock on the market. Having previously investigated several marijuana stocks, and having observed the price action and news of the major marijuana stocks over the past few months, I believe that the only people set to make a lot of money from these stocks are the company insiders and smart day-traders. Why Do Investors In Marijuana Stocks Face Enormous Risk? Because the fundamentals of the primary marijuana stocks being traded are horrible, they have extremely limited histories, and there are numerous skeletons in the closet." Continue reading →

Continue ReadingMarijuana Stocks Are Extremely Dangerous Investments

Greece to sack 15,000 state workers in next two years to unlock bail-out cash

"Greece is in deep recession, GDP has contracted by 22pc since 2008 and unemployment has spiralled to 27pc as the Greek government has implemented deeply unpopular EU-IMF austerity measures or 'fiscal adjustment' in return for loans. 'Our society has reached its limits. But finally we are meeting our targets and the programme is being improved,' said Antonis Samaras, the Prime Minister, in a nationally televised address. 'Soon, Greece will not depend on the memorandums. Greece will have growth, it will be competitive and outward-looking. In other words, we will have a strong Greece.'" Continue reading →

Continue ReadingGreece to sack 15,000 state workers in next two years to unlock bail-out cash

Helmut Kohl: ‘I acted like a dictator to bring in the euro’

"The Kohl administration actually donated funds to French politicians to influence French domestic opinion. And now it turns out that Kohl himself confesses he 'acted like a dictator' to ensure that Germany adopted the euro. Kohl explains that he acted like a dictator because he believes a centralized Europe with a single currency is the greatest hope for a peaceful Europe. Of course, there are plenty of questions about Europe's last two wars. If it is true, as history books now allege, that Adolf Hitler and National Socialism received a good deal of funding from American and British industrialists, then it would seem the historical recipe is incorrect." Continue reading →

Continue ReadingHelmut Kohl: ‘I acted like a dictator to bring in the euro’