300 Chinese Foxconn Workers ‘Threaten Mass Suicide’ At XBox Plant, Reports Claim
Around 300 Chinese workers who manufacture XBox consoles took to a factory roof and threatened bosses with mass suicide over a dispute about pay, unconfirmed reports have claimed.
The workers were employed at the Foxconn Technology Park in Wuhan in Hubei province. Foxconn is an independent, global manufacturing partner to companies including Apple, Microsoft and Sony.
Microsoft said that it is investigating the incident.
According to unverified reports emerging from anti-government Chinese news websites, about 300 workers took to the roof of the Taiwanese-owned factory to protest against their employers.
According to the reports the employees had asked bosses for a raise but in response were told to either quit with compensation or keep their jobs at their usual salary.
Most workers apparently decided to leave, but the company did not hand over the money as promised.
According to the China Jasmine Revolution website, the workers were only dissuaded a day later when the mayor of Wuhan talked them out of committing suicide.
Foxconn factories in China have been the scene of several suicides by workers in the past, including 14 in 2010 alone at its Shenzhen plant, after complaints of low pay and poor conditions.
MF Global sold assets to Goldman before collapse: sources
MF Global unloaded hundreds of millions of dollars’ worth of securities to Goldman Sachs in the days leading up to its collapse, according to two former MF Global employees with direct knowledge of the transactions. But it did not immediately receive payment from its clearing firm and lender, JPMorgan Chase & Co (NYSE:JPM – News), one of the sources said.
The sale of securities to Goldman occurred on October 27, just days before MF Global Holdings Ltd (Other OTC:MFGLQ.PK – News) filed for bankruptcy on October 31, the ex-employees said. One of the employees said the transaction was cleared with JPMorgan Chase.
At the same time MF Global, which was run by former Goldman Sachs head Jon Corzine, was selling securities to Goldman to raise badly needed cash, the futures firm was also drawing down a $1.2 billion revolving line of credit it had with JPMorgan, according to one of the former MF Global employees.
JPMorgan spokeswoman Mary Sedarat said the bank did not withold money because of the line of credit. She declined further comment on details of the transactions.
Read More:http://finance.yahoo.com/news/mf-global-sold-assets-goldman-134258814.html
Bank of Canada Challenged in Legal Action: "Restore the Use of the Bank of Canada for Canadians"
PRESS RELEASE TORONTO, ON., CANADA- 19/12/2011
ECONOMIC THINK TANK CONFRONTS THE GLOBAL FINANCIAL POWERS IN CANADIAN FEDERAL COURT. 
RESTORE THE USE OF THE BANK OF CANADA FOR THE BENEFIT OF CANADIANS AND REMOVE IT FROM THE CONTROL OF INTERNATIONAL PRIVATE ENTITIES WHOSE INTERESTS AND DIRECTIVES ARE PLACED ABOVE THE INTEREST OF CANADIANS AND THE PRIMACY OF THE CONSTITUTION OF CANADA
Canadian constitutional lawyer, Rocco Galati, on behalf of Canadians William Krehm, and Ann Emmett, and COMER (Committee for Monetary and Economic Reform) on December 12th, 2011 filed an action in Federal Court, to restore the use of the Bank of Canada to its original purpose, by exercising its public statutory duty and responsibility. That purpose includes making interest free loans to municipal/provincial/federal governments for “human capital” expenditures (education, health, other social services) and /or infrastructure expenditures.
The action also constitutionally challenges the government’s fallacious accounting methods in its tabling of the budget by not calculating nor revealing the true and total revenues of the nation before transferring back “tax credits” to corporations and other taxpayers.
The Plaintiffs state that since 1974 there has been a gradual but sure slide into the reality that the Bank of Canada and Canada’s monetary and financial policy are dictated by private foreign banks and financial interests contrary to the Bank of Canada Act.
The Plaintiffs state that the Bank of International Settlements (BIS), the Financial Stability Forum (FSF) and the International Monetary Fund (IMF) were all created with the cognizant intent of keeping poorer nations in their place which has now expanded to all nations in that these financial institutions largely succeed in over-riding governments and constitutional orders in countries such as Canada over which they exert financial control.
The Plaintiffs state that the meetings of the BIS and Financial Stability Board (FSB) (successor of FSF), their minutes, their discussions and deliberations are secret and not available nor accountable to Parliament, the executive, nor the Canadian public notwithstanding that the Bank of Canada policies directly emanate from these meetings. These organizations are essentially private, foreign entities controlling Canada’s banking system and socio-economic policies.
The Plaintiffs state that the defendants (officials) are unwittingly and /or wittingly, in varying degrees, knowledge and intent engaged in a conspiracy, along with the BIS, FSB, IMF to render impotent the Bank of Canada Act as well as Canadian sovereignty over financial, monetary, and socio-economic policy, and bypass the sovereign rule of Canada through its Parliament by means of banking and financial systems.
A press conference will be held on Wednesday, December 21st, 2011 at 10:00 a.m. to answer any questions the media may have of the Plaintiffs at: 637 College Street, Suite 203, Toronto, Ontario.
Is Poland’s Premier Leading his Country into a New Slavery?
As most Polish citizens can hardly fail to notice, Europe is experiencing a time of growing economic turmoil. So much so, that leaders of euro zone countries are now desperately searching for ways to prop up their tottering national economies as well as to maintain commitments to what is termed ‘monetary union’ – the euro zone holy grail.
Countries outside the euro zone also find themselves caught up by the effects of the gathering financial storm and are attempting to pitch their camps as appropriately as possible to deal with it.
But one thing that countries both inside and outside the euro zone share is a common problem of ‘debt’.
Levels of national borrowing (sovereign debt) have, over the past decade, exceeded the ability of many countries to pay back the ensuing interest and capital within permitted time zones, thus catalysing the ‘restructuring’ of these loans by the lenders and the setting of new terms for repayment. The ‘lenders’ are thus put in a position of great power: they can pull the strings and set the agenda – so long as the countries which are borrowing wish to maintain their particular monetary policies and ambitions for ‘economic growth’.
Poland, however, finds herself in a position of reasonable resilience to the euro zone storm. With an economy that is largely internally stimulated and not overtly reliant on exports, the country looks in fair shape to resist at least the worst consequences of the black hole which the euro zone is rapidly turning into.
Read More:http://www.activistpost.com/2011/12/is-polands-premier-leading-his-country.html
Canadian Banks: the "next shoes to drop"?
And all that makes the MSM news here is that Occupy Toronto left the damn park a bit messy!
Contributor: "Brian H"
Apropos of comments the other day by YYC about "generally pleased Canadians" and Finance Minister Jim Flaherty’s public hand wringings, here is a long, involved read, but worth while, I think:
Why The UK Trail Of The MF Global Collapse May Have "Apocalyptic" Consequences For The Eurozone, Canadian Banks, Jefferies And Everyone Else
… it is a link so sinister it touches every corner of modern finance up to and including such supposedly "stable" institutions as Jefferies, which as it turns out has spent weeks defending itself, however against all the wrong things, and Canadian banks, which as it also turns out, defended themselves against Zero Hedge allegations they may well be the next shoes to drop …
Check out RBC and CIBC customers’ apparent exposure to disaster due to the practice known as "rehypothecation"!
"Canadian Imperial Bank of Commerce (re-pledged $72 billion in client assets), Royal Bank of Canada (re-pledged $53.8 billion of $126.7 billion available for re-pledging)"
Basically they are using the same collateral over and over again on many loans. Of course, being global entities they can shop for the most favourable legal and regulatory system in which to hatch their nefarious plots and schemes.
Then, when it all blows up, they play the too-big-to-fail, get-out-of-jail free card from the last time they passed GO! And all that makes the main stream media news here is that Occupy Toronto left the damn park a bit messy! It makes my blood boil. As my late dad used to say: Wake the F up people!
You couldn’t make this stuff up with a straight face! Imagine trying it on your local bank’s loan manager? What do you mean I can’t pledge my car against four loans at once?
It makes underwater mortgages seem like just the kiddies’ wading pool. Or am I overreacting?
Source http://yayacanada.blogspot.com/2011/12/canadian-banks-next-shoes-to-drop.html
Fed, Five Central Banks Cut Dollar Swap Rate
Six central banks led by the Federal Reserve lowered the cost of emergency dollar funding for financial companies in a global effort to ease Europe’s sovereign-debt crisis.
The new interest rate is the dollar overnight index swap rate plus 50 basis points, a half percentage-point cut, and the program was extended by six months to Feb. 1, 2013, the Fed said today in a statement in Washington. The Fed coordinated the move with the European Central Bank as well as the Bank of Canada, Bank of England, Bank of Japan, and Swiss National Bank. (SNBN)
U.S. and European stocks rallied on the move aimed at easing strains in markets and boosting central banks’ capacity to support the global financial system. The cost for European banks to fund in dollars rose to the highest levels in three years today as concerns about a possible breakup of the euro area increased after leaders said they’d failed to boost the region’s bailout fund as much as planned.
“It’s a step in the right direction,” said Jay Bryson, global economist with Wells Fargo Securities in Charlotte, North Carolina. “It doesn’t solve the problem in Europe, but to the extent that European banks are having trouble raising dollar funding, it makes it easier and less costly for these banks to borrow dollars.”
The six central banks also agreed to create temporary bilateral swap programs so funding can be provided in any of the currencies “should market conditions so warrant.” Those swap lines were also authorized through Feb. 1, 2013.
Bank robbery, Italian style: The Fiscal Fascists are back and hungry for your money
Not much is ever really new in either economics or politics. So Italy’s nuovo Duce Mario Monte is retracing the footsteps of a man that he probably worships as one of his saintly heroes.
Almost 90 years ago il primo Duce, Benito Mussolini, installed a certain Alberto De Stefani, a rather colorless and acerbic statistician, to sort out the Italian economy.
Today we would say that De Stefani, like Mario Monti, was a Friedmanite. This means a disciple of the nation-wrecking Chicago school of economics associated with its shark-fanged progenitor, the late Milton Friedman.
The Chicago School is a black hole of untrammeled capitalism explored to the ultimate boundaries, swallowing entire nations while stoking the forces of neofascism.
There is no record of a successful demonstration of Friedmanism, unless you rate the murder of the elected Chilean prime minister Salvador Allende, and destruction of both the economy and democracy in Chile in the 1970’s as some kind of success in a bleak obverse sense.
Il Duce Monti’s austerity program that just received rapturous applause from Italy’s so recently relegated politicians is such an exact copy of Alberto de Stefani’s miracle plan back in the 1920’s, the old boy might well have come back from the grave bearing the original tablet.
More at EndtheLie.com – http://EndtheLie.com/2011/11/28/bank-robbery-italian-style-the-fiscal-fascists-are-back-and-hungry-for-your-money/#ixzz1f7cmExQU
Money Found in Britain May Belong to MF Global
About $200 million in customer money that vanished from MF Global is believed to have surfaced at JPMorgan Chase in Britain, according to people briefed on the matter. The discovery could be the most significant breakthrough in a monthlong hunt for the missing funds.
During MF Global’s last chaotic days, the brokerage firm overdrew an account at JPMorgan, according to another person who is close to the matter. Some investigators now believe the firm used customer funds to patch at least some of the hole, which would have been a significant breach of federal law.
MF Global transferred the roughly $200 million in the days before the firm filed for bankruptcy, said the people, who requested anonymity because the investigation was incomplete.
Some investigators suspect that the transfer to JPMorgan was the first major misuse of customer money at MF Global, the commodity brokerage powerhouse once run by Jon S. Corzine, the former Democratic governor of New Jersey. Authorities are also looking into whether JPMorgan initially questioned the source of the cash and sought proof from MF Global that it was complying with regulations, one of the people said.
Read More.:http://dealbook.nytimes.com/2011/11/28/money-found-in-britain-may-belong-to-mf-global/
US Protests: ‘People aware Wall Street is real enemy
Police in New York have violently dispersed an anti-Wall Street rally, arresting more than seven hundred people after a dramatic showdown on Brooklyn bridge. Thousands joined the movement dubbed ‘Occupy Wall Street’ – in protest against what they call corporate domination. James Corbett, editor of independent news website http://www.corbettreport.com says the police brutality may provoke an escalation of violence.
Why the Banksters Hate Islam
By Tony Cartalucci
Of course, all aspects of the Old World are slated for elimination, as ancient values, be they of Christianity, Judaism, Buddhism, or even regional secular traditions, all pose a direct threat to the Anglo-American unipolar world government. Their world government is one of interdependence between the nation-states, who in turn are enslaved by servile dependence on “global institutions,” most notably those involving a world-wide monetary system. Any tradition or value system that promotes independence, sovereignty, knowledge, and self-reliance represents a brick wall standing in the way of the corroding effects of the globalist agenda.
Eastern traditions and Islam in particular, however, have proven themselves most resilient. Islamic communities from the Middle East to Southeast Asia still exist, their local markets still thrive even in the presence of nearby Western consumerist troughs like Tesco of England. As technology progresses, these communities augment their commerce to compete fiercer yet with the Ponzi-scheme economy of the West. Throughout Asia along side these traditional, tightly knit Islamic communities, coexist Asian black-markets or the “underground economy.” Together these form the closest model of real “free market” economics you can find. These are markets that not only progress at break-neck speed, but the amount of competition and the informed consumer base demanded by this otherwise unregulated economic activity, do the best job of “distributing” wealth and commodities at the lowest price possible.
While common sense drives the Asian black-markets, the Islamic communities are driven by something much deeper, derived from the Qu’ran. A particular lecturer on the Islamic world verses the international monetary system encapsulates these precepts best in a YouTube video series titled “Islam & the International Monetary System.” If you are able to move past superficial details, ideological differences, and labels, and focus on the underlining message of Imran Hosein, Muslim or not, you will walk away enlightened. You will not only be enlightened as to why the globalists fear and despise the Old World, and Islam in particular, but you will understand the possible solution to subverting the globalists’ depraved system with one that is as applicable for the American patriot as much as it is the for the Indonesian Muslim.
Imran Hosein’s ultimate solution to the problem of international monetary predation is the construction of Islamic villages that are self-reliant and maintain their monetary sovereignty through using sound money locally based on Islamic law. These could just as easily be “Liberty Villages” in the United States where farmers and tradesmen come together and conduct commerce with sound money with intrinsic value.
It has been said many times before, independence is freedom, freedom is independence. It appears that the message of Ron Paul and genuine Libertarians is more than just an American message, it is a universal message, shared not just by secular or Christian Westerners, but also described in the texts of Islam of which there are over a billion adherents worldwide.
It would be highly beneficial for those who seek true freedom and the undermining of the global world order, to exhibit mutual respect for their secular, Christian, Judeo, and Islamic brothers and sisters, and meet each other in the middle on these fundamental issues of sovereignty, because if there is anything the globalists fear and detest more than Old World tradition and faith, it is the prospect of all Old World traditions and faiths meeting together and joining battle against the globcratic elite.
Below is the first of 11 videos. The entire playlist can be found here.
The video series is in English, but begins with a presumably Arabic introduction.
Hugo Chavez Nationalizes Venezuelan Gold Industry, Demands 211 Tons Be Returned From Abroad – JPMorgan, Bank Of England & ETFs Scramble For Physical Metal
We just reported that Hugo Chavez has nationalized the entire Venezuelan gold industry this afternoon.
Well, Hugo didn’t stop there, as latest headlines flashing indicate that Chavez has 
requested that the Bank of England return 99 Tons of Venezuelan gold held on deposit, and a total of 211 Tons of gold held abroad (WSJ).
For those with any knowledge of the cartel, you know where this is heading.
For those who don’t….the Bank of England currently stores 211 tons of Venezuela’s gold in the vaults of (per Bloomberg) JP Morgan, Barclays, and the Bank of Nova Scotia.
A last check of physical gold inventory in The Morgue’s vault showed a whopping 338,303 total ounces of gold…roughly 10.6 tons.
In an absolute shocker to all who follow gold and silver here, are we about to see the COMEX GOLD market busted/default before COMEX
Source:http://silverdoctors.blogspot.com/2011/08/hugo-chavez-demands-99-tons-of.html
Free Speech Zone 