Topher Morrison
This is AMTV News,
I’m your host Topher Morrison.
Today is Tuesday July 10th 2012.
Drug Cartels Launder
with B of A, Again
After being caught laundering $3 billion in 2006 from one
branch, Bank of America officially rejoins an infamous list of big banks
including Wells Fargo, Wachovia, and of course the British Crown’s original
repository of opium proceeds – HSBC.
These are just a few among countless others in the Laundromat of the War
on Drugs. FBI affidavit submitted
to a Texas federal court linked the Las Zetas Mexican drug cartel, a local racehorse
business and several B of A accounts.
Should any unscrupulous banking practices be exposed expect B of A to
receive a slap on the wrist. In
2010 Wachovia settled a nearly $400 billion laundering binge to the tune of merely
$160 million.
Bank Runners Vote
With Their Wallets
It’s been said Barclay’s LIBOR scandal was like finding your
house was built on quicksand, rampant rate manipulation by the world’s leading
financial institutions and yet again nobody sees a jail cell. Well, its time to stop having Tea
Parties and occupying Wall Street and vote with your wallet! There has been an explosion of requests
to move money from the ‘big five’ banks to smaller more responsive and
hopefully more ethical alternatives like co-ops, building societies and credit
unions.
The Rate Heard Round
the World
The outbreak of negative interest rates in Europe is a
telltale sign the second shoe has dropped in the ongoing global financial saga,
central banks don’t want you saving they want you risking your money in the markets. The negative rates is ultimately an
effort to depreciate sovereign currency, driving global money parkers elsewhere
and hopefully spurring exports and growth. Problem is this hurts the local banks reliant on interest
from loans and savings accounts to stay afloat. This also runs the risk of competing with the biggest
depreciator of them all – the Federal Reserve.
Iran’s Black Market
Oil
In the face of EU sanctions Iran is still selling its oil to
Europe through a private Iranian consortium. Selling up to 20% of its average volumes to privately-owned
European refineries it is likely the union of exporters, under an agreement
with Iran’s central bank and oil ministry, will offer minor privileges and
discounts to buyers in light of international restrictions. Japan and China are also eager to
bypass sanctions approving insurance and offering tankers to secure their
energy. Don’t expect the transactions to be in US dollars though, which reminds
me how did that work out for Hussein and Ghaddafi again?
Yes, Obamacare IS the
Biggest Tax Increase in History
From Kevin Drum at Mother Jones, to Ezra Klein at the
Washington Post, to Bloomberg’s Elizabeth Dwoskin, to the New Republic’s
Jonathan Cohn and all the links back to Drum and Klein herd journalism of the
left claims Obamacare isn’t the largest tax hike in US history, problem is –
it’s the biggest tax increase in the history of the world. According to page 36 of Drum’s cited CBO
analysis it’s $525 billion worth of new taxes.
Catch our in depth commentary and
analysis of stories like these at GreeneWave.com part of the AMTV network.
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