STOCK MARKET WATCH -- Wednesday, 24 June 2015

[Tansy_Gold]

[font size=3]STOCK MARKET WATCH, Wednesday, 24 June 2015[font color=black][/font]

SMW for 23 June 2015

AT THE CLOSING BELL ON 23 June 2015
[center][font color=green]
Dow Jones 18,144.07 +24.29 (0.13%)
S&P 500 2,124.20 +1.35 (0.06%)
Nasdaq 5,160.10 +6.12 (0.12%)


[font color=black]10 Year 2.41% 0.00 (0.00%)
30 Year 3.20% 0.00 (0.00%) [font color=black]


[center][/font]

[HR width=85%]

[font size=2]Market Conditions During Trading Hours[/font]
[center]
(click on link for latest updates)
Market Updates
[/center]

[font size=2]Euro, Yen, Loonie, Silver and Gold[center]

[/center]

[center]

[/center]

[HR width=95%]

[font color=black][font size=2]Handy Links - Market Data and News:[/font][/font]
[center]
Economic Calendar
Marketwatch Data
Bloomberg Economic News
Yahoo Finance
Google Finance
Bank Tracker
Credit Union Tracker
Daily Job Cuts
[/center]

[font color=black][font size=2]Handy Links - Economic Blogs:[/font][/font]
[center]
The Big Picture
Financial Sense
Calculated Risk
Naked Capitalism
Credit Writedowns
Brad DeLong
Bonddad
Atrios
goldmansachs666
The Stand-Up Economist
The Automatic Earth
Wall Street on Parade
[/center]

[font color=black][font size=2]Handy Links - Essential Reading:[/font][/font]
[center]
Matt Taibi: Secret and Lies of the Bailout


[/center]

[font color=black][font size=2]Handy Links - Government Issues:[/font][/font]
[center]
LegitGov
Open Government
Earmark Database
USA spending.gov
[/center]

[font color=black][font size=2]Handy Links - Videos:[/font][/font]
[center]
Charlie Rose talks with Roubini
Charlie Rose talks with Krugman
William Black: This Economic Disaster
Bill Moyers with Kevin Drum and David Corn
[/center]

[div]
[font color=red]Partial List of Financial Sector Officials Convicted since 1/20/09 [/font][font color=red]
2/2/12 David Higgs and Salmaan Siddiqui, Credit Suisse, plead guilty to conspiracy involving valuation of MBS
3/6/12 Allen Stanford, former Caribbean billionaire and general schmuck, convicted on 13 of 14 counts in $2.2B Ponzi scheme, faces 20+ years in prison
6/4/12 Matthew Kluger, lawyer, sentenced to 12 years in prison, along with co-conspirator stock trader Garrett Bauer (9 years) and co-conspirator Kenneth Robinson (not yet sentenced) for 17 year insider trading scheme.
6/14/12 Allen Stanford sentenced to 110 years without parole.
6/15/12 Rajat Gupta, former Goldman Sachs director, found guilty of insider trading. Could face a decade in prison when sentenced later this year.
6/22/12 Timothy S. Durham, 49, former CEO of Fair Financial Company, convicted of one count conspiracy to commit wire and securities fraud, 10 counts of wire fraud, and one count of securities fraud.
6/22/12 James F. Cochran, 56, former chairman of the board of Fair, convicted of one count of conspiracy to commit wire and securities fraud, one count of securities fraud, and six counts of wire fraud.
6/22/12 Rick D. Snow, 48, former CFO of Fair, convicted of one count of conspiracy to commit wire and securities fraud, one count of securities fraud, and three counts of wire fraud.
7/13/12 Russell Wassendorf Sr., CEO of collapsed brokerage firm Peregrine Financial Group Inc. arrested and charged with lying to regulators after admitting to authorities he embezzled "millions of dollars" and forged bank statements for "nearly twenty years."
8/22/12 Doug Whitman, Whitman Capital LLC hedge fund founder, convicted of insider trading following a trial in which he spent more than two days on the stand telling jurors he was innocent
10/26/12 UPDATE: Former Goldman Sachs director Rajat Gupta sentenced to two years in federal prison. He will, of course, appeal. . .
11/20/12 Hedge fund manager Matthew Martoma charged with insider trading at SAC Capital Advisors, and prosecutors are looking at Martoma's boss, Steven Cohen, for possible involvement.
02/14/13 Gilbert Lopez, former chief accounting officer of Stanford Financial Group, and former controller Mark Kuhrt sentenced to 20 yrs in prison for their roles in Allen Sanford's $7.2 billion Ponzi scheme.
03/29/13 Michael Sternberg, portfolio mgr at SAC Capital, arrested in NYC, charged with conspiracy and securities fraud. Pled not guilty and freed on $3m bail.
04/04/13 Matthew Marshall Taylor,fmr Goldman Sachs trader arrested, charged by CFTC w/defrauding his employer on $8BN futures bet "by intentionally concealing the true huge size, as well as the risk and potential profits or losses associated."
04/04/13 Matthew Taylor admits guilt, makes plea bargain. Sentencing set for 26 June; faces up to 20 years in prison but will likely only see 3-4 years. Says, "I am truly sorry."
04/11/13 Ex-KPMG LLP partner Scott London charged by federal prosecutors w/passing inside tips to a friend in exchange for cash, jewelry, and concert tickets; expected to plead guilty in May.
08/01/13 Fabrice Tourré convicted on six counts of security fraud, including "aiding and abetting" his former employer, Goldman Sachs
08/14/13 Javier Martin-Artajo and Julien Grout charged with wire fraud, falsifying records, and conspiracy in connection with JP Morgan's "London Whale" trade.
08/19/13 Phillip A. Falcone, manager of hedge fund Harbinger Capital Partners, agrees to admit to "wrongdoing" in market manipulation. Will banned from securities industry for 5 years and pay $18MM in disgorgement and fines.
09/16/13 Javier Martin-Artajo and Julien Grout officially indicted on charges associated with "London Whale" trade.
02/06/14 Matthew Martoma convicted of insider trading while at hedge fund SAC (Stephen A. Cohen) Capital Advisors. Expected sentence 7-10 years.
03/24/14 Annette Bongiorno, Bernard Madoff's secretary; Daniel Bonventre, director of operations for investments; JoAnn Crupi, an account manager; and Jerome O'Hara and George Perez, both computer programmers convicted of conspiracy to defraud clients, securities fraud, and falsifying the books and records.
05/19/14 Credit Suisse, which has an investment bank branch in NYC, agrees to plead guilty and pay appx. $2.6 billion penalties for helping wealthy Americans hide wealth and avoid taxes.
09/08/14 Matthew Martoma, convicted SAC trader, sentenced to 9 years in prison plus forfeiture of $9.3 million, including home and bank accounts







[HR width=95%]


[center]

[font size=3][font color=red]This thread contains opinions and observations. Individuals may post their experiences, inferences and opinions on this thread. However, it should not be construed as advice. It is unethical (and probably illegal) for financial recommendations to be given here.[/font][/font][/font color=red][font color=black]

[Demeter]

1. #12. MOST IMPORTANT OF ALL: GET BIG MONEY OUT OF POLITICS

HELL, GET ALL THE MONEY OUT OF POLITICS.

Over the past two months, the videos I’ve done with MoveOn.org have detailed several ways to make the economy work for the many, not the few: raising the minimum wage to $15 an hour, making public higher education free, busting up the big banks, expanding Social Security, making polluters pay, raising the estate tax, strengthening unions, ending corporate welfare, helping families succeed economically, and letting all Americans buy into Medicare.

But none of these is possible if we don’t get big money out of politics. In fact, nothing we need to do as a nation is possible unless we limit the political power of the moneyed interests. So we made one more video – the one accompanying this post – and it’s incredibly important you share this one, too. At the rate we’re going, the 2016 election is likely to be the most expensive in history – and the moneyed interests will be responsible for most of it. Our democracy is broken, and we must fix it.

Easy to say, but how do we do it?

First and most immediately, require full disclosure of all original sources of campaign money – so the public knows who’s giving what to whom, and can hold politicians accountable if they do favors for contributors while neglecting their responsibilities to all of us. If Congress won’t enact a law requiring such full disclosure, the Federal Election Commission has the power to do it on its own and the SEC can do it for public corporations – which, by the way, are major campaign spenders. Meanwhile, the President should issue an executive order requiring all federal contractors to fully disclose their political contributions. There’s a growing movement to encourage him to do just that.

Next, our government should provide matching funds for small-donor contributions – say $3 in public dollars for every $1 dollar from a small donor. Those public dollars could come from a check-off on your income tax return indicating you want, say, $15 of your taxes devoted to public financing of elections.

Third and most importantly, we must reverse the Supreme Court’s 5-4 First Amendment decisions holding that money is speech and corporations have the political rights of people – and that therefore no laws can be enacted limiting the amount of money wealthy individuals or big corporations can spend on elections.

We have to work hard for a constitutional amendment to overturn “Citizen’s United” – with the understanding that we’ll either succeed in amending our Constitution, or we’ll build a social movement powerful enough to influence the Supreme Court, just like the movement that led to the historic “Brown v. the Board of Education” decision. Ultimately we need Supreme Court justices who understand that the freedom of speech of most Americans is drowned out when big money can spend as much as it wants, to be as loud as it needs to be.

The fundamental rule for an economy that works for everyone is a democracy that works, period.

http://robertreich.org/post/122221596470

[tclambert]

2. The Supreme Court says you have just as much right as the Koch brothers to buy

nationally-aired television commercials supporting your point of view. The five justices who approved the Citizens United decision just don't get that this type of speech is completely unavailable to those who don't have vast amounts of money. Freedom of speech for a type of speech you can never exercise is not freedom of speech.

[Demeter]

3. The Fed's Policies Have Paved the Way For an Even Bigger Crisis Than 2008

http://www.zerohedge.com/news/2015-06-23/feds-policies-have-paved-way-even-bigger-crisis-2008

The 2008 crash was a warm up.

Many investors think that we could never have a crash again. The 2008 melt-down was a one in 100 years episode, they think. They are wrong. The 2008 Crisis was a stock and investment bank crisis. But it was not THE Crisis. THE Crisis concerns the biggest bubble in financial history: the epic Bond bubble… which as it stands is north of $100 trillion… although if you include the derivatives that trade based on bonds it’s more like $500 TRILLION.

The Fed likes to act as though it’s concerned about stocks… but the real story is in bonds. Indeed, when you look at the Fed’s actions from the perspective of the bond market, everything suddenly becomes clear. Bonds are debt. A bond is created when a borrower borrows money from a lender. And at the top of the financial food chain are sovereign bonds like US Treasuries. These bonds are created when someone lends the US money. Why would they do this? Because the US SPENDS more money than it TAKES IN via taxes. So it issues debt to cover its extra expenses. This cycle continued for over 30 years until today, when the US has over $11 TRILLION in size. Because we never actually pay our debt off (or rarely do), what we do is ROLL OVER debt when it comes due, so that investors continue to receive interest payments but never actually get the money back… because the US Government doesn’t have it… because it’s still spending more money than it takes in via taxes.

This is why the Fed cut interest rates to zero and will likely do everything in its power to keep them low: even a small raise in interest rates makes all of this debt MORE expensive to pay off.

This is also why the Fed had the regulators drop accounting standards for derivatives… because if banks and financial firms had to accurately value their hundreds of trillions of derivatives trades based on bonds, investors would be terrified at the amount of leverage and the margin calls would begin.

The bond bubble is also why the Fed started its QE programs. Because by buying bonds, the Fed put a floor under Treasuries… which made investors less likely to dump bonds despite bonds offering such low rates of return.

This is also why the Fed is terrified of deflation. Deflation makes future debt payments more expensive. So the Fed prefers inflation because it means the dollars used to pay off debt down the road will be cheaper than Dollars today.

Again, when YOU look at the Fed’s actions through the perspective of the bond market… everything becomes clear. The only problem is that by doing all of this, the Fed has only made the bond market even BIGGER. In 2008, the bond market was $82 trillion. Today it’s over $100 trillion. And the derivatives market, of which 80%+ of all trades are based on interest rates (Treasury yields), is at $700 TRILLION.

The REAL Crisis will be when the bond bubble bursts. When this happens, it will be clear that real standards of living have been falling since the ‘70s and that sovereign nations have been papering over this through social spending and entitlements (a whopping 47% of US households receive Government benefits in some form). Imagine what will happen to the markets when the Western welfare states finally go broke? It will make 2008 look like a picnic.

I THINK THE PRIVATE BANKS AND HEDGE FUNDS GO BUST FIRST. THEN THE NATION-STATES CAN MAKE BANKING A PUBLIC UTILITY AND ELIMINATE THE FINANCIAL PARASITES. AND AS FOR THE MULTINATIONAL CORPORATIONS....THEY WILL FIND NOWHERE LEFT TO RUN.

[Fuddnik]

4. Well, I'm going back to driving a taxi today.

Just some quick cash to pay off some bills, and stock up for a rainy day. It's been too fucking hot to play golf anyway.

[kickysnana]

5. Things looking up now that UBER has to play by some of the same rules?

[Fuddnik]

12. They're still flaunting it down here.

I think they're having a hard time getting drivers now. Nobody wants to work for nothing. They even have massive ads on Craigslist in Spanish now. They keep texting me to drive, even though I quit them a year ago. And, I don't think they're operating in my area...yet.

[Demeter]

6. Why the TPP Agenda Is Straight out of Alice in Wonderland

WELCOME TO WONDERLAND, ALL

http://www.alternet.org/economy/why-tpp-agenda-straight-out-alice-wonderland?akid=13236.227380.qVIsZ3&rd=1&src=newsletter1038230&t=10

"Let the jury consider their verdict,’ the King said, for about the twentieth time that day.

`No, no!’ said the Queen. `Sentence first–verdict afterwards.’

`Stuff and nonsense!’ said Alice loudly. `The idea of having the sentence first!’

`Hold your tongue!’ said the Queen, turning purple.

`I won’t!’ said Alice.

`Off with her head!’ the Queen shouted at the top of her voice.

— Lewis Carroll, “Alice’s Adventures in Wonderland”

Fast-track authority is being sought in the Senate this week for the Trans-Pacific Partnership (TPP), along with the Trade in Services Agreement (TiSA) and any other such trade agreements coming down the pike in the next six years. The terms of the TPP and the TiSA are so secret that drafts of the negotiations are to remain classified for four years or five years, respectively, after the deals have been passed into law. How can laws be enforced against people and governments who are not allowed to know what was negotiated?

The TPP, TiSA and Transatlantic Trade and Investment Partnership (or TTIP, which covers Europe) will collectively encompass three-fourths of the world’s GDP; and they ultimately seek to encompass nearly 90 percent of GDP. Despite this enormous global impact, fast-track authority would allow the President to sign the deals before their terms have been made public, and send implementing legislation to Congress that cannot be amended or filibustered and is not subject to the constitutional requirement of a two-thirds treaty vote.

While the deals are being negotiated, lawmakers can see their terms only under the strictest secrecy, and they can be subjected to criminal prosecution for revealing those terms. What we know of them comes only through WikiLeaks. The agreements are being treated as if they were a matter of grave national security, yet they are not about troop movements or military strategy. Something else is obviously going on. The bizarre, unconstitutional, blatantly illegal nature of this enforced secrecy was highlighted in a May 15th article by Jon Rappoport, titled “What Law Says the Text of the TPP Must Remain Secret?” He wrote:

It seems like a case of mass hypnosis. . . .

Members of Congress are scuttling around like weasels, claiming they can’t disclose what’s in this far-reaching, 12-nation trade treaty.

They can go into a sealed room and read a draft, but they can’t copy pages, and they can’t tell the public what they just read.

Why not?

If there is a US law forbidding disclosure, name the law.

Can you recall anything in the Constitution that establishes secret treaties?

Is there a prior treaty that states the text of all treaties can be hidden from the people?

To Congressmen who say they cannot reveal what is in a treaty that will adversely affect the lives of hundreds of millions of people, Rappoport says:

Wrong. You’re lying. You can reveal secret text. In fact, it’s your duty. Otherwise, you’re guilty of cooperating in a RICO criminal conspiracy.

A Corporate Coup d’État

What is going on was predicted by David Korten in his 1995 blockbuster, When Corporations Rule The World. Catherine Austin Fitts calls it a “corporate coup d’état.” This corporate coup includes the privatization and offshoring of the judicial function delegated to the US court system in the Constitution, through Investor-State Dispute Settlement (ISDS) provisions that strengthen existing ISDS procedures. As explained in The Economist, ISDS gives foreign firms a special right to apply to a secretive tribunal of highly paid corporate lawyers for compensation whenever the government passes a law to do things that hurt corporate profits — such things as discouraging smoking, protecting the environment or preventing a nuclear catastrophe. Arbitrators are paid $600-700 an hour, giving them little incentive to dismiss cases. The secretive nature of the arbitration process and the lack of any requirement to consider precedent give wide scope for creative judgments – the sort of arbitrary edicts satirized by Lewis Carroll in Alice’s Adventures in Wonderland.

To date, the highest ISDS award has been for $2.3 billion to Occidental Oil Company against the government of Ecuador over its termination of an oil-concession contract, although the termination was apparently legal. Under the TPP, however, even larger and more unpredictable judgments can be anticipated, since the sort of “investment” it protects includes not just “the commitment of capital or other resources” but “the expectation of gain or profit.” That means the rights of corporations extend not merely to their factories and other “capital” but to the profits they expect to receive. Just the threat of a massive damage award for impairing “expected corporate profits” could be enough to discourage prospective legislation by lawmakers.

The Trade in Services Agreement adds additional barriers to proposed legislation. TiSA involves 51 countries, including every advanced economy except the BRICS (Brazil, Russia, India, China, and South Africa). The deal would liberalize global trade in services covering close to 80% of the US economy, including financial services, healthcare, education, engineering, telecommunications, and many more. It would restrict how governments can manage their public laws, and it could dismantle and privatize state-owned enterprises, turning those services over to the private sector. It would also block the emerging trend to return privatized services to the public sector, by limiting or prohibiting governments from creating or reestablishing public utilities and other “uncompetitive” forms of service delivery. It seems that the TPP, TTIP and TiSA are not about the sort of “free trade” that would free local businesses to sell abroad. They are about freeing international corporations from the government regulation necessary to protect the economy, the people, and the environment. They are about preserving privatized monopolies and preventing competition from the public sector. And they are about moving litigation offshore into private arbitrary tribunals – the sort of tribunal that might have lost Alice her head, if she had not awakened from her bizarre dream.

Ellen Brown is an attorney, chairman of the Public Banking Institute, and author of 12 books. In her latest book, The Public Bank Solution, she explores successful public banking models historically and globally. She is currently running for California State Treasurer on a state bank platform.

[Demeter]

8. Trade Accord, Once Blocked, Nears Passage

President Obama’s ambitious trade push is back on track, after several near-death moments, in large measure because top Republicans stood by him.

The Senate on Tuesday narrowly voted to end debate on legislation granting Mr. Obama enhanced negotiating powers to complete a major Pacific trade accord, virtually assuring final passage Wednesday of Mr. Obama’s top legislative priority in his final years in office.

The procedural vote of 60 to 37 just reached the minimum needed, but final Senate passage will require only 51 votes... 13 Democrats sided with Republicans to end the debate and get to a final vote on trade promotion authority... The House approved trade promotion authority last week. With congressional support for “fast track” authority, the president can press for final agreement on the Trans-Pacific Partnership, a legacy-defining accord linking 40 percent of the world’s economy — from Canada and Chile to Japan and Australia — in a web of rules governing Pacific commerce. His administration can also bear down on a second agreement with Europe — known as the Transatlantic Trade and Investment Partnership — knowing that lawmakers will be able to vote for or against those agreements but will not be able to amend or filibuster them.

The Atlantic agreement is not expected to be completed until the next administration is in office, but the trade negotiating powers would stretch for six years — well into the next presidency. Together those two accords would put much of the globe under the same trade rules, not only lowering tariffs and other import barriers but also creating new standards for Internet access, intellectual property and investor protections...

*************************

The Senate is set on Wednesday to give final approval to trade promotion authority, then vote to end debate on a separate bill that attaches worker dislocation assistance to a broadly popular bill extending a trade agreement with several African countries.

To attract more votes, Senate leaders added another provision speeding up action against foreign competitors who are found to be “dumping” — selling steel and other products in the United States at artificially low prices in an effort to put domestic manufacturers out of business.

Senators would vote on that package on Thursday, and if it is approved, as expected, it would go to the House the same day.

This time, if Democrats vote down trade adjustment assistance, they will be effectively killing a worker education and retraining program created during the Kennedy administration and that party members have nurtured ever since, but will still most likely watch Mr. Obama sign the fast-track bill into law....

MORE, IF YOU CAN BEAR IT, AT LINK

[Demeter]

9. "This Is How Little It Cost Goldman To Bribe America's Senators To Fast Track Obama's TPP Bill"

http://www.zerohedge.com/news/2015-06-23/obama-faces-union-anger-ahead-corporate-coup-detat-trade-deal-fast-track-vote

[Demeter]

10. Almost $200 Million Donated To Representatives To Pass TPA By Paola Casale

http://www.informationclearinghouse.info/article42226.htm

... TPA passed with a mere 219-211 vote with only 218 needed to pass. The real shocker comes from the amount of money each Representative received for a yes vote. In total, $197,869,145 was given to Representatives for a yes vote where as $23,065,231 was given in opposition.

John Boehner (R-OH) received $5.3 million for a “yea” vote and was the highest paid legislator.
Kevin McCarthy (R-CA) received $2.4 million for his “yea” vote.
Paul Ryan (R-WI) received $2.4 million for a “yea” vote and came in at the third highest paid legislator.
Pat Tiberi (R-OH) follows Paul Ryan, coming in the fourth spot having received $1.6 million for his “yea” vote.

The fifth highest paid legislator is somewhat of a “hero” in comparison to others. Representative Steny Hoyer (D-MD) received $1.6 million for a yes vote and only $282,710 for a no vote. Despite of his high contribution from those in favor of TPA, he still voted a solid nay.

We also have other hero stories.

Joe Crowley (D-NY) received 1.3 million for a “yea” vote and only $72,550 for a “nay” vote and he still voted against TPA.
Patrick Murphy (D-FL) received 1.1 million for a “yea” vote and only $213,360 for a “nay” vote and still voted against it.
Richard Neal D(MA) received $1.1 million for a “yea” vote and a mere $47,625 for a “nay” vote and still voted against it.

Democrats are not the only heroes in this voting session. GOP members spoke very loud and clear.

Mick Mulvaney (R-SC) received $541,746 for a “yea” vote and no money at all for a “nay” vote and he still voted “nay!”
Andy Harris (R-MD) received $254,803 for a “yea” vote and no money at all for a “nay” vote and he still voted “nay”.
Thomas Massie (R-KY) received $250,328 for a “yea” vote and no money at all for a “nay” vote and he still voted “nay.”
Dana Rohrabacher (R-CA) received $180,832 for a “yea” vote and no money at all for a “nay vote” and she still voted “nay.”

Where did this kind of money come from? Those in favor of TPA were Security Brokers and Investment Companies who donated a whopping $11.3 million dollars for a “yea” vote. Or big banking companies who donated $10.1 million dollars. In other words, Wall Street hashed out millions and millions of dollars to push for the passage of TPA.

Those numbers are absolutely staggering. Corporations are taking control of what policies are approved or blocked in the U.S. We cannot sit around while corporations decide what is “good” for America or not! This is a democracy, not a plutocracy! Contact your representatives and let them know that you do not want them to vote in favor of TPA!

[Demeter]

11. IT SEEMS HOPELESS, BUT THERE'S ONE LAST VOTE---CALL! COMPLAIN! DEMAND!

[DemReadingDU]

17. Medieval Feudalism vs Corporate Feudalism

[Demeter]

7. Rothschild Advises United Kingdom Government to Sell Royal Bank of Scotland

https://www.cryptocoinsnews.com/rothschild-advises-united-kingdom-government-sell-royal-bank-scotland/

N M Rothschild have been at the heart of advising the UK Government on the RBS (Royal Bank of Scotland) sale. The RBS was rescued by the taxpayer several years ago to the tune of £45.8bn. Now, the shares that the government owns, allegedly on behalf of its people, are being sold off at a £7bn loss to private investors...It has been revealed, not too publicly, however, that the esteemed and noble house of Rothschild have advised the government to sell now and sell cheap. You won’t find the mainstream media reporting on Rothschild involvement in this. “Independent Advice.” Is how the mainstream media shapes it. For it is taboo in mainstream media to mention the name of the mighty and great Rothschild.

Letter from the Chief Executive of Rothschild to the Chancellor;

1. By starting to sell, the government will increase the free float which should in turn improve the marketability of the remainder of its shareholding. This will enable the government to execute larger sales on better terms than would otherwise have been the case;

2. We believe that sending a strong signal that RBS is on the road to recovery and that its reprivatisation has begun may also bring further benefits to the bank and therefore to the taxpayer as shareholder;

3. Market conditions for financial assets and bank shares are currently good;

4. We believe that the current price of RBS shares reasonably reflects its future prospects based on its current strategy and the risks associated with this being achieved; and

5. We believe that RBS is ready to be sold and do not believe that there are other reasons that would preclude a share sale in the short term (i.e. in the next 12 months) or render it poor value for money for the taxpayer

You might have heard the name, probably if you operate within the financial world outside the traditional legacy sector. If you operate in the traditional sector, then you probably have not heard the name. They learned early in the 20th Century that power is best held from the shadows, and the play of the marionette is best perform through the curtains of illusion. Not hearing about this from many, if any, sources. You might be led to believe that the mainstream media are forbidden to talk about such news. Let us wait and see which mainstream media outlets mention the advice on "sell now, sell cheap." and whether they can uncover the recipients of the cheap RBS shares. Such little bits of information as how the sale of RBS is being made at a loss to the government and by extension, the people of the UK. And that this sale is being made to private financiers who remain anonymous, is arguably not public enough.

The shares are being sold off to major City (of London) institutions. I do not think you need to guess hard to find out where the Rothschild financial centre is? And Mark Carney, governor of the Bank of England, fully supported and encouraged this sale at a loss for the UK government. And who owns the majority Bank of England? And, therefore, pulls the strings of Mr Carney. Not many people could tell you that one, as the banks pride themselves on their anonymity.

Note: I could find no sources of information as to which specific Institutions were doing the buying of the RBS shares.

The Guardian reports that;

Rothschild concludes that RBS shares may never return to their pre-crisis levels and the current share price “fairly reflects the fundamental value of the bank”.

And to be fair, Rothschild might be right. If even after creating £375 billion to dump into the financial markets to bolster the UK housing bubble and the stock market, RBS shares are remarkably still going to be sold at a loss. Arguably, most would agree that Governments should seek expert advice before embarking on something so extreme, of this I am in agreement with. Yet when the advice comes from sources that are quite likely going to benefit, and with cheap shares, then the advice is suspect and what is going on the surface is not all that is going on, potential conflicts of interest arise. It is not like the noble Rothschilds have ever fiddled governments to buy cheap shares ever before, they would never do such a thing.

The UK investment in Royal Bank of Scotland Rothschild report can be found here. SEE LINK You can find this report and the accompanying letter via the HM Treasury site, you won’t find this information reported in the mainstream, so it is up to you to remember and to tell others.

[Fuddnik]

13. They could probably still sell it to Pat Robertson.

[Demeter]

14. Some Pointers on How to Catch the Dubious Use of Statistics

also, read Why Most Published Research Findings Are False

There is increasing concern that most current published research findings are false. The probability that a research claim is true may depend on study power and bias, the number of other studies on the same question, and, importantly, the ratio of true to no relationships among the relationships probed in each scientific field. In this framework, a research finding is less likely to be true when the studies conducted in a field are smaller; when effect sizes are smaller; when there is a greater number and lesser preselection of tested relationships; where there is greater flexibility in designs, definitions, outcomes, and analytical modes; when there is greater financial and other interest and prejudice; and when more teams are involved in a scientific field in chase of statistical significance. Simulations show that for most study designs and settings, it is more likely for a research claim to be false than true. Moreover, for many current scientific fields, claimed research findings may often be simply accurate measures of the prevailing bias. In this essay, I discuss the implications of these problems for the conduct and interpretation of research.

Cathy O’Neil’s On being a data sceptic

[Demeter]

15. Have a good day everyone

and I will try to do the same...

Anybody got an idea for the weekend? I'm feeling uninspired and non-creative...dragged out, actually.

[Demeter]

16. Wally's Hobby

[DemReadingDU]

18. Greece rejects IMF’s proposals for Corporate Tax, Pension Cuts & 23% VAT in food

6/24/15 Greece rejects IMF’s proposals for Corporate Tax, Pension Cuts & 23% VAT in food

Hardly had Greek Prime Minister Alexis Tsipras stepped at Brussels airport and the creditors started to throw stones on his way to the meeting with Institutions. They have reportedly submitted a new proposal as they do not agree with Greece’s equivalent measures.

It is said that especially the IMF rejects Greek government proposals to raise corporate tax from 26% now to 29% as well as the health care contributions increase to pensioners.
.
.

The IMF wants cuts in public spending and not revenue increases as the Greek proposal.


Meanwhile Greek media report from Brussels that Tsipras will have a meeting with Juncker first, then with Draghi and Lagarde. The Institutions ECB, IMF and EC had a meeting with Eurogroup’s Dijsselbloem and EFSF’ Klaus Regling.

PS and then all together may play music chairs….

http://www.keeptalkinggreece.com/2015/06/24/greece-rejects-imfs-proposals-for-corporate-tax-pension-cuts-23-vat-in-food/

[Hotler]

19. This last vote toward the TPP pasted even though the people made a stink and....

our elected official's ignored us. The next vote will pass also. We are very hosed. I have no hope. I see no future. There should be hundreds of thousand people in the street today mad as hell protesting. There are a lot of politicians in Washington that need their asses kicked right out in the street for all to see. It's time to get fighting mad. Time for taking the high road and being nice and polite is over.

[Demeter]

20. It was over a long time ago

Kent State put a damper on protest, though.

[DemReadingDU]

21. and Occupy WallStreet

shut down and hosed down

[mother earth]

22. Yeah, sadly I agree, but a house of cards cannot stand, it's a matter of time.

It really is. Next up, election fraud in 2016, after the MSM frames the horse race to make it all believable.

[antigop]

23. the system has to implode before we'll see change...and the question is...

what kind of change are we going to see?

Socialism? More fascism?

[Demeter]

24. The nature of the implosion could determine that

a controlled demolition would enable rebuilding faster and easier than an atomic bomb would. And there might be more sane people left.

[antigop]

25. I am not optimistic. nt

[DemReadingDU]

26. Rebuild with what?

There is no money after this bubble implodes.
Maybe people would work for food?

[Punx]

27. Will work for food

Could be another description for slavery.