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""Mr Geithner said the extraordinary measures were needed to "temporarily postpone the date that the United States would otherwise default on its legal obligations".""

http://bbc.co.uk/news/world-us-canada-20848218

What kind of "accounting measures" majic away 200 billion dollars?; this without spending cuts or tax rises, just "accounting measures"- otherwise know as fiddling the books

Measures:

http://www.zerohedge.com/news/2012-12-26/us-treasury-rises-above-debt-ceiling-now-what

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it depends if your attitude is " f*kc you jack I'm alright ?"

There's quite a few forum members who think this about Naam. With good reason too !

Still, I'd have to grudgingly agree with his assertion that it isn't the consumers' fault that some people don't have money.

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it depends if your attitude is " f*kc you jack I'm alright ?"

There's quite a few forum members who think this about Naam. With good reason too !

Still, I'd have to grudgingly agree with his assertion that it isn't the consumers' fault that some people don't have money.

take a wild guess how this thinking of a few forum members affects my afternoon nap which

i am going to take now till London and Frankfurt trading resumes after a boring long break.

wink.png

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shhhh... London is trading now. no more disturbance from backbenchers please laugh.png this is a serious thread about a financial crisis which is not affected by individual liked or not liked attitudes. and especially not affected by people who have no money or fight when cheap perfumes on a heap are for sale.

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shhhh... London is trading now. no more disturbance from backbenchers please laugh.png this is a serious thread about a financial crisis which is not affected by individual liked or not liked attitudes. and especially not affected by people who have no money or fight when cheap perfumes on a heap are for sale.

Come on the revolution...........

post-46292-0-91659900-1356597525_thumb.j

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shhhh... London is trading now. no more disturbance from backbenchers please laugh.png this is a serious thread about a financial crisis which is not affected by individual liked or not liked attitudes. and especially not affected by people who have no money or fight when cheap perfumes on a heap are for sale.

Come on the revolution...........

that was one of the silliest Startrek episodes.

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Iceland Just Sentenced Its First Bankster To Prison

Welding, fv. CEO of Glitnir, the Reykjavík District Court today sentenced to nine months, six months suspen...ded. Requested five and a half years' imprisonment on him, and five years in prison over Gudmund Hjaltasyni, former. Director of Corporate Finance. Gudmund received the same sentence and Welding.

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Discraseful :

"The man tasked with regulating the City in the run-up to the near-collapse of the UK banking system has been knighted in the Queen's New Year Honours.

Former Financial Services Authority (FSA) chief executive Hector Sants has been recognised for services to financial regulation after overseeing sweeping reforms following the nationalisation of Northern Rock and the bailout of major banks.

The knighthood may be seen as a controversial decision, as it was Sir Hector who led the organisation accused by MPs of being "asleep at the wheel" in the run up to the collapse of Northern Rock.

While he was criticised for the FSA's failure to spot and prevent the credit crunch and subsequent banking meltdown, he has since won praise for cleaning up the regulator and for his role in forcing banks to beef up their balance sheets.

Sir Hector said the award was a "testament to the hard work of everyone at the FSA during the crisis, their willingness to learn lessons and to bring about the changes that were necessary".

The 56-year-old had planned to leave his role in February 2010, but was convinced by Chancellor George Osborne to stay on to see through the coalition's break-up of the FSA.

It was thought he would become a deputy governor of the Bank of England and head the Prudential Regulation Authority (PRA) - one of two new regulatory bodies that will replace the FSA as part of an overhaul in the wake of the financial crisis.

But Sir Hector unexpectedly resigned earlier this year and has courted more controversy, joining scandal-hit Barclays, where he will become the bank's first point of contact for regulators.

He is believed to be in line for a £3m pay package.

The FSA received a mauling from MPs in the wake of the banking crisis and collapse of Northern Rock.

Northern Rock had to be nationalised in 2008, with the Government also having to bail out Royal Bank of Scotland, Lloyds TSB and HBOS.

In the aftermath of the crisis, Sir Hector warned the City to "be frightened" as he pledged an era of more intrusive and direct regulation.

He also laid the blame at the door of the US and UK governments for their part in the crisis, saying authorities worldwide sought to "encourage a significant credit boom particularly for the benefit of consumers who wished to purchase housing".

Sir Hector joined the FSA wholesale markets arm from Credit Suisse in 2004. He became chief executive in 2007 - just two months before the run on Northern Rock.

It had been widely expected that Sir Hector would return to the private sector when he resigned from the FSA.

Barclays, which has had its reputation battered following this summer's rate-rigging revelations, has appointed Sir Hector to the newly-created role of head of compliance. He is due to start on January 21." -shy news app.

Here's an idea. How about regulators that aren't allowed to go on to work in the financial services industry or of come from it. Blatant conflicts of interest at present if not strait out corrupt. Same goes for the BoE.

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"

Last-Minute Deal Reached On US Fiscal Cliff

Last Updated 02:45 01/01/2013

The White House and Congressional Republicans are said to have reached a deal at the eleventh hour to avert the so-called fiscal cliff, according to a Democratic aide.

It means that automatic tax rises and spending cuts, which economists thought could plunge the US back in to recession, have been briefly averted.

Senior Congressional aides say the pact would raise taxes on the richest Americans - those earning over $450,000 a year - but exempt everyone else, and will put off $109bn in budget cuts across the government for two months.

Vice President Joe Biden, who negotiated the deal with Republican Senate Majority leader Mitch McConnell, was on Capitol Hill to sell it to Democratic senators, a White House source added.

The tax hikes and spending cuts were due to come into force at midnight. But as global markets, sure to be rocked by a failure to head off the fiscal cliff, are closed for New Year's day, lawmakers have time to vote the deal into law.

A Senate vote was expected overnight on Monday while the House of Representatives was expected to follow suit today after a display of dramatic New Year's Eve brinkmanship.

Mr Obama had originally campaigned for tax hikes to kick in for those making $250,000 and above and his acceptance of a higher threshold has already angered liberals, though still represents a political victory.

The president said it would extend tax credits for clean energy firms and also unemployment insurance for two million people due to expire later Monday.

It was also expected to include an end to a temporary 2% cut to payroll taxes for social security retirement savings and Medicare health care programmes for seniors and changes to inheritance and investment taxes.

Signs that a deal could be close cheered investors as US markets rose before closing for the year. The Dow Jones Industrial Average closed up 166.03 points (1.28%) at 13,104.14.

Both sides were on Monday already gearing up for the next legislative showdown over the need to lift the government's statutory borrowing limit of $16.4trn, which was reached on Monday.

The Treasury will now take extraordinary measures to keep the government afloat for an undisclosed period of time until the ceiling is raised. Republicans are already demanding spending cuts in return."

-sky news app

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This is a good step if actually enforced

http://bbc.co.uk/new...siness-20860803

But they will probably find other off book ways to rip people off.

of course they will find "other ways"! i'm presently in a country where interest is forbidden by law. that means if you take a loan you don't pay any interest and if you invest your money you don't receive any interest.

the "interesting" thing with the non-existing "interest" is that you pay a "commission" when taking a loan and you receive a "commission" when investing your money laugh.png in some of the neighbouring country the commission is called "profit share".

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Not quite there yet:

"A US Senate-backed deal to stave off a "fiscal cliff" of drastic taxation and spending measures has passed to the House of Representatives.

President Barack Obama has urged the House to pass the bill "without delay".

However, after holding a meeting, House Republicans expressed serious concerns, saying the mood was to amend the Senate bill to add more spending cuts.

There is intense pressure for a vote in the House before financial markets reopen on Wednesday.

But participants at the Republicans' meeting said the overwhelming sentiment was a desire to amend the bill and return it to the Senate."

http://bbc.co.uk/news/world-us-canada-20883096

So right now we are over the cliff and the US government is using "extrordiary measures"/ accounting tricks to keep legal the surpassing of the 16,400,000,000,000 dollar debt limit.

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Discraseful :

"The man tasked with regulating the City in the run-up to the near-collapse of the UK banking system has been knighted in the Queen's New Year Honours.

Former Financial Services Authority (FSA) chief executive Hector Sants has been recognised for services to financial regulation after overseeing sweeping reforms following the nationalisation of Northern Rock and the bailout of major banks.

The knighthood may be seen as a controversial decision, as it was Sir Hector who led the organisation accused by MPs of being "asleep at the wheel" in the run up to the collapse of Northern Rock.

While he was criticised for the FSA's failure to spot and prevent the credit crunch and subsequent banking meltdown, he has since won praise for cleaning up the regulator and for his role in forcing banks to beef up their balance sheets.

Sir Hector said the award was a "testament to the hard work of everyone at the FSA during the crisis, their willingness to learn lessons and to bring about the changes that were necessary".

The 56-year-old had planned to leave his role in February 2010, but was convinced by Chancellor George Osborne to stay on to see through the coalition's break-up of the FSA.

It was thought he would become a deputy governor of the Bank of England and head the Prudential Regulation Authority (PRA) - one of two new regulatory bodies that will replace the FSA as part of an overhaul in the wake of the financial crisis.

But Sir Hector unexpectedly resigned earlier this year and has courted more controversy, joining scandal-hit Barclays, where he will become the bank's first point of contact for regulators.

He is believed to be in line for a £3m pay package.

The FSA received a mauling from MPs in the wake of the banking crisis and collapse of Northern Rock.

Northern Rock had to be nationalised in 2008, with the Government also having to bail out Royal Bank of Scotland, Lloyds TSB and HBOS.

In the aftermath of the crisis, Sir Hector warned the City to "be frightened" as he pledged an era of more intrusive and direct regulation.

He also laid the blame at the door of the US and UK governments for their part in the crisis, saying authorities worldwide sought to "encourage a significant credit boom particularly for the benefit of consumers who wished to purchase housing".

Sir Hector joined the FSA wholesale markets arm from Credit Suisse in 2004. He became chief executive in 2007 - just two months before the run on Northern Rock.

It had been widely expected that Sir Hector would return to the private sector when he resigned from the FSA.

Barclays, which has had its reputation battered following this summer's rate-rigging revelations, has appointed Sir Hector to the newly-created role of head of compliance. He is due to start on January 21." -shy news app.

Here's an idea. How about regulators that aren't allowed to go on to work in the financial services industry or of come from it. Blatant conflicts of interest at present if not strait out corrupt. Same goes for the BoE.

next thing you know they will be knighting people for singing badly, or playing crap football.............. wait a minute

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They managed to kick that can a little further , hooray

Risk on- Stock markets up a bit; gold up a bit.

Just a few bits off cnbc this morning:

10 strait months of manufacturing contraction in Germany and France.

Portugal 10year bond 6.99%

But the biggest worry they seem to think is china.

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"Only one month into the Occupy Wall Street demonstrations last year, plans were formulated to identify key figures in the movement and execute them with a coordinated assault using sniper rifles, new documents reveal.

The revelation discussed in a heavily redacted FBI memo unearthed late last month through a Freedom of Information Act request reveals that the Federal Bureau of Investigation was aware of plans for a violent assault on the peaceful protest movement but stayed silent on rumors of an assassination attempt only until now.

Information on the alleged plot to kill off protesters appears on page 61 of the trove of documents obtained recently by a FOIA request filed by the Partnership For Civil Justice Fund. On the page in question, marked SECRET, the FBI acknowledges:

An identified [redacted] of October planned to engage in sniper attacks against protesters in Houston, Texas, if deemed necessary. An identified [redacted] had received intelligence that indicated the protesters in New York and Seattle planned similar protests in Houston, Dallas, San Antonio and Austin, Texas. [Redacted] planned to gather intelligence against the leaders of the protest groups and obtain photographs then formulate a plan to kill the leadership via suppressed sniper rifles.

Throughout the rest of the material obtained by the PFCJF, the FBI declines to mention any follow-up attempts at investigating or handling the rumored assassination plot.Page 61, where the plot is discussed, was redacted heavily before handed over to the PFCJF.

As RT reported when the documents were first published just before Christmas, other material released through the FOIA request shows the FBI and other law enforcement agencies labeling Occupy activists as criminal and domestic terrorists right from the early days of their anti-capitalism and anti-corporate greed protests that began in September 2011.

These documents show that the FBI and the Department of Homeland Security are treating protests against the corporate and banking structure of America as potential criminal and terrorist activity, PFCJF Executive Director Mara Verheyden-Hilliard says. These documents also show these federal agencies functioning as a de facto intelligence arm of Wall Street and Corporate America.

But while police agencies were working to expose protesters for alleged crimes against the country, the demonstrators themselves were being faced with very real death threats.

The documents, released after long delay in the week between Christmas and New Years, show a nationwide meta-plot unfolding in city after city in an Orwellian world, Naomi Wolf writes for The Guardian. Not all that unsurprising, though, is how the very agencies that acted to suppress the protest movement made little announcement of plans to execute the very people involved in the group.

[T]hreats of the assassination of OWS leaders by sniper fire by whom? Where? now remain redacted and undisclosed to those American citizens in danger, contrary to standard FBI practice to inform the person concerned when there is a threat against a political leader, Wolf writes.

Commenting on the trove of documents, The New York Times reports, The records show little evidence that the members of the movement planned to commit violence." -rtapp

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Interesting.

However it is from Russia Today which means it must be taken with a grain of salt. For example, they use (by their choice) phrasing such as "plot", "violent assault" "death threats", which isn't in line with the phrasing they later use; "if deemed necessary" (supposedly..this again is from what you posted above).

1) "If deemed necessary" changes the entire context. It implies something would have to trigger the sniper shots. Now if this is true, (im not saying it is or isn't...but it is RT) it isn't that far out of line with common practice by the FBI to have a full plan outlined to handle any conceivable turn of events. Now with a protest the size of OWS, of course they are going to have a contingency plan for if things turned violent. I would agree that sniper fire would be out of line in any situation except if the protest turned violent and non-protesting citizens were being attacked. So it is logical to assume that the FBI were receiving thousands of information snippets from various sources, some true some not, from agents as well as the common public during the protests. And thus in their duty to have an all-event encompassing plan of action, drew up the sniper thing.

But of course RT writes it as if they were going to just randomly start taking out leaders, because that makes the US govt seem more scaaaaaaaarrryyyyyyy.

2)This part is just pure laughable RT drivel "These documents also show these federal agencies functioning as a de facto intelligence arm of Wall Street and Corporate America".

Really? What exactly is Corporate America? Businesses in America? The big ones? The FBI works for American Businesses? Lol, well shit thats good news since their duty is to serve and protect US interests.

I would love to see how the documents show that. Just think about that. Business is competition. If the FBI works for Wall Street and Corp America then that means Goldman Sachs could call them to raid the offices of JP Morgan and take away their market share. Or Apple (are they Corporate America?)calls the FBI to raid Microsoft.

SEE RT FOR WHAT IT REALLY IS AND DELETE THE APP FROM YOUR PHONE

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Just reading a media source doesn't mean one must lap up every opinion as fact; read between the lines of course. But RT foes a good job reporting on things other outlets don't cover. This report if you read it carefully is actually sourced from the guardian quoting actual government documents, of course RT has put its spin on it but the facts are there and then its up to individual to read in to it what they want.

Regarding the point about corporate America. The NY police were given some millions "donation" by JP Morgan at the time of the OWS protests :

From the horses mouth - http://www.jpmorganchase.com/corporate/Home/article/ny-13.htm

Another piece of reporting - http://guardian.co.uk/world/blog/2011/oct/06/occupy-wall-street-protests-live

2+ 2 = up to you

The police in America have a history of brutalising peaceful protesters with or with out corporate finance anyway.

The above is just an example, but happen all through G8 demos to Vietnam, anti war and civil rights.

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Obese people could face cuts to their benefits if they do not attend exercise sessions, under new plans being outlined by a local council.

Westminster City council has published a report looking at how councils can link benefit payments to claimants' lifestyles.

It describes how some local authorities have begun allowing GPs to prescribe leisure activities like swimming and fitness classes.

Obesity Levels Among UK Adults

It is hoped that by using technology such as smart cards, the use of leisure facilities can be monitored leading to housing and council benefit payouts being cut for those not attempting to lose weight.

The document, written with the think-tank the Local Government Information Unit (LGiU), states: "Where an exercise package is prescribed to a resident, housing and council tax benefit payments could be varied to reward or incentivise residents."

Obesity costs the NHS £5.1bn a year and the number of Britons who are overweight is expected to increase by 10% over the next decade.

In recent years the responsibility for tackling public health has moved back to local government, despite many councils experiencing funding cuts.

Councillor Philippa Roe, Leader of Westminster City Council, said: "Councils have a great opportunity to improve lives by thinking how public health can be integrated into existing local services, this can lead to savings being shared across the entire public sector.

"This report contains exactly the sort of bright, forward-thinking and radical ideas that need to be looked at."- sky news app

A taste of things to come?

Higher National insurance based on questions like what a private medical insurer, so the fat, unheathy, smokers pay proration steely more because how they cost the more billions than those that are responsible themselves?

Tories put forward many good and fair ideas like this but them bloody bleeding heart liberals keep scuppering them before they get off the ground, but hopefully the councils can be brave enough to lead the way.

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Ok I'm with you on the Jpmorgan donation, that is wrong. In my view, there should be a very very low cap put on donations to police forces.

I just really really dont like RT. I used to subscribe to their youtube channel, because yes it could be interesting. But thats the problem, they dress up stories to be interesting and feed into a fear-mongering, alex-jones-like platform.

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You can believe or not believe any wacko RT story you want but the bottom line is none of the protesters were killed by snipers so I'm not sure it matters much.

As far as Police , Military and FBI ect, working for corporate America ....... of course they are , The Navy's stated job is to keep the sealanes open for commerce , amoung other things of course . ....... Why would you think the wealty powerfull people are not being served by more policeing ? Of course they are since they are the ones mainly funding it.

When people use the expression ..... American intrests overseas ..... what do you think they are refering to ? Johnney homeowner's right to free speech ? lol Or American factorys . oil fields , and the like.

Do you think when the police come to a protest outside some bank they are there to protect the protesters or the bank ? lol

Do you think they try and stop fake goods from entering places to protect the consumers or the Corporations that are getting ripped off ? lol

Just because they work for Corporate America doesn't mean they don't have limits , so obviously Jp can't call them to raid Gs , but don't be under any illisions that the structure of protection is designed to protect johnney homeowner , the structure is set up to protect from the top down not the bottom up , one of the FBI's main jobs is investegating Bank robberys , why ? Because Banks have enough money to pay them !

The reason we don't help countries like Rawanda or other African countries that have FAR worse problems for it's citizens than places like Iraq or any other middle eastern country should be pretty obvious . their is not enough Corporate intrest in those places to bother with. So once again why do we invade Iraq instead ...... same as the bank explanation , because the corporations have enough money to demand it.

I dont know why anyone would think the real world would operate any differently anyhow , maybe it shouldnt in a perfect world , but on this planet the people with the money get the protection and services of gov , be it the KGB or the CIA ... why would or how could any sensible person think it works any other way ? What is it in the entire history of humans and countrys would lead you to think that spy agencys , international police , militarys , ect, are working for anyone but the most wealthy or the King as it were. Welcome to Earth and enjoy your stay.

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