On Sept. 20, the hacktivist group known as Anonymous posted a communique on their website to officially commence Operation Black October, and to get people around the world to kill the financial system by getting them to remove their money from banks.  This operation comes as the global financial system teeters on the precipice of a new Lehman moment where companies like Glencore, Trafigura, and Deutsche Bank sit on the cusp of collapse or insolvency, and where the fears of a new bail-in scheme could soon find more depositors out of a large portion of their funds.

In addition to removing your money from all banks, Anonymous is also calling for a cease and desist of using credit cards, debit cards, and the taking out of loans, and to instead to have people do their spending using only cash.

“US branches of Germany’s Deutsche Bank and Spain’s Banco Santander have failed US Fed stress tests, while America’s largest bank, Bank of America, is put on ‘warning’. How far can the ordinary people shoulder responsibility of a failed private bank? Anonymous asks you to join the peaceful revolution from October 1 to 31. Take all your money from your bank account, don’t use your credit card, pay cash and change your future. Show the Big Bankers that we don’t need their debit cards, we don’t need their credit cards, we don’t need their loans, and we don’t need them. Let’s show them that we are the 99% and we can beat them. It is that easy.” – AnonHQ

Ever since the fall of Northern Rock prior to the Credit Crisis of 2008, people around the world have been leery of trusting their money to banks, especially after the introduction of bail-ins during the Cyprus collapse, and the more recent bank holiday that took place during the Greek debt and austerity vote.  And while there have been new alternative ways to protect and save your money outside of the banking system since the banking crisis of seven years ago, only a small percentage of people have gotten into models such as Bitcoin, and the gold backed system known as Karatbars.

Anonymous has been focal point for many who have sought ways to get out of the fascist political model that is the foundation of most Western countries after 9/11 and 2008.  And while Anonymous may no longer have the gravitas they once did during the Edward Snowden days and revelations of NSA spying, they still are on top of events to both educate and cause activism for people who are against the banking cartels by offering ways to protect yourself from what appears to be the next major economic crisis coming fast upon us.

Kenneth Schortgen Jr is a writer for Secretsofthefed.com, Examiner.com, Roguemoney.net, and To the Death Media, and hosts the popular web blog, The Daily Economist. Ken can also be heard Wednesday afternoons giving an weekly economic report on the Angel Clark radio show.

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Following the 2008 Credit Crisis, banking policies changed as lending to and for small businesses became a risk that these institutions decided was far too costly when they could simply borrow from the Fed, and arbitrage profits from the buying of Treasury Bonds.  And because their primary lending became directed more towards the investment side of their businesses, and to major corporations, small businesses that make up the bulk of America’s job market began to decline in record numbers.

But even as the U.S. was allowing its own general economy to collapse in favor of funding corporate stock buybacks, across the Pacific over in China, their expansion of small businesses began to take shape, and over the past seven years has seen the Far Eastern economy not only move to the top spot in global business expansion, but is now creating nearly three times as many new businesses per year than the U.S. is.

Despite the economic slowdown in China, the country is outpacing the rest of the world in creating new start-ups, according to a study by the international accounting and consultancy network UHY.

The number of new Chinese businesses created annually has nearly doubled since 2010, increasing from 811,100 to 1,609,700 last year, the research revealed.

“New business creation is accelerating more quickly in the UK than in any of its Western rivals,” the UHY report said.

India came third on the list with a 46 percent increase in the number of start-ups. Almost 100,000 new businesses were created in the country last year.

“Western European economies tended to see a bigger increase in the number of new business ‘births’ compared to other developed economies,” the report noted.  The UK, Italy, Germany, and France had increases in the number of new businesses higher than the G7 average of 31 percent. – Russia Today

According to a Gallup Poll from last year, entrepreneurial startups in the U.S. have been declining since the late 1970’s when they reached their peak of a 16.5% annual increase.  However, following the 2008 crisis and the subsequent Great Recession, a new phenomenon occurred where not only did American business startups decline in number, but also the number of small business that failed were far greater than the number that were actually started.  And by a whopping -70,000 per annum.

In the 1920’s, President Calvin Coolidge once said, “the business of America is business”.  But 90 years later, this foundation has changed and one could now say that the business of America is debt and corporate buybacks.  And as America declines as the global leader for job creation and business startups, this position is quickly being filled by the world’s number one producing nation in the world, with the rise of China’s middle class mirroring the fall of the same class across the Pacific in the U.S..

Kenneth Schortgen Jr is a writer for Secretsofthefed.com, Examiner.com, Roguemoney.net, and To the Death Media, and hosts the popular web blog, The Daily Economist. Ken can also be heard Wednesday afternoons giving an weekly economic report on the Angel Clark radio show.

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For more than two years, economists in the alternative media have been warning of a coming economic meltdown that would be worse than the Credit Crisis of 2008 simply because the debts are much bigger, and the underlying problems that led to that crisis have never been addressed.  And now in early 2016, more and more mainstream analysts are jumping onto this bandwagon, with the former Chief Economist for the Bank of International Settlements (BIS) stating on Jan. 20 that the economy is now worse than it was in 2007.

The BIS is known as the central bank of central banks, and plays a key role in facilitating global currency exchanges between nations and economies.  And what gives economist William White credibility in his current assessment of the global economy is the fact that he forecasted and warned of the 2008 economic collapse that led to the death of Lehman Brothers and Bear Stearns.

The financial situation in the world has become so unstable that a new wave of defaults and bankruptcies will soon emerge, says William White, the chairman of the OECD’s review committee and former chief economist of the Bank for International Settlements (BIS).

“The situation is worse than it was in 2007. Our macroeconomic ammunition to fight downturns is essentially all used up,”the economist told the Telegraph newspaper before the World Economic Forum in Davos.

White is one of a few bankers who warned about the rising crisis in the Western financial system before the financial crash eight years ago

“Debts have continued to build up over the last eight years and they have reached such levels in every part of the world that they have become a potent cause for mischief,” said White.

“It will become obvious in the next recession that many of these debts will never be serviced or repaid, and this will be uncomfortable for a lot of people who think they own assets that are worth something,” he added. – Russia Today

These debts White is referring too includes over $11 trillion loaned out to emerging markets following the 2008 crisis which are now finding difficulty in being repaid due to the massive drop in oil prices, and the absolute slowdown in the global economy.  In fact, emerging market capital outflows by investment banks to secure their own liquidity problems are helping to increase the problem as the decline in commodity and production revenues are making these nations unable to pay the debts owed for their previous growth and expansion.

Had the world in general been willing to do the ‘Iceland Initiative’ and let bad institutions fail while at the same time letting toxic debts default, the global economy would be in the process of a real period of growth, instead of experiencing the consequences of five years of debt and artificial stimulus.  And William White is without a doubt correct in saying that the economy is far worse now than in 2007, and is just beginning the collapse where defaults and bankruptcies will this time not be able to be covered up with trillions in government or bank bailouts.

Kenneth Schortgen Jr is a writer for Secretsofthefed.com, Examiner.com, Roguemoney.net, and To the Death Media, and hosts the popular web blog, The Daily Economist. Ken can also be heard Wednesday afternoons giving an weekly economic report on the Angel Clark radio show.

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Bankers involved with hookers, drugs, and bribes?  Nah, that would never happen.. but the sovereign investment fund for Libya’s national government begs to differ as they announced on June 14 that it indeed happened, and they are taking the Goldman Sachs to court for using these types of bribes to secure risky contracts that were lost during the fallout of the 2008 Credit Crash.

Libya’s national investment fund is seeking restitution for $1.2 billion it says was lost through investments made by Goldman Sachs, who put the money in toxic and risky investments which completely deteriorated when the global financial system collapsed eight years ago.

Libya’s national investment fund is attempting to claw back $1.2 billion from nine trades it carried out with Goldman Sachs in 2008, which supposedly came about after the bank used prostitutes, private jets, and five star hotels to secure contracts.

Libya’s national investment fund is attempting to claw back $1.2 billion from nine trades it carried out with Goldman Sachs in 2008, which supposedly came about after the bank used prostitutes, private jets, and five star hotels to secure contracts.

“The disputed trades were inherently unsuitable for a nascent sovereign wealth fund such as the LIA and Goldman Sachs knew (or at the very least suspected) the LIA did not properly understand the trades, which were highly structured, complex and risky,” Libya’s Investment Authority said in a document submitted to the court. – Russia Today

Besides losing Libya’s money in risky investments, Goldman Sachs has a long history of telling their clients to buy and sell one thing, while secretly betting against that advice to profit from customer losses.  And their influence in the affairs of sovereign nations also extends to country’s like Greece and Italy, whom they helped to manipulate their accounting, which then facilitated their inclusion into the European Union.

As Libya sits in chaos still after the U.S. funded the overthrow and assassination of their leader Muammar Qadaffi, the nation is seeking to rebuild itself without having access to their over 100 tons of gold locked away by London banks who allotted a number of spurious regulations that make getting back their sovereign gold nearly impossible.  And this leaves Libya with small hopes of getting back some compensation from the West for using their money to speculate on toxic investments.

Kenneth Schortgen Jr is a writer for Secretsofthefed.com, Examiner.com,Roguemoney.net, and To the Death Media, and hosts the popular web blog, The Daily Economist. Ken can also be heard Wednesday afternoons giving an weekly economic report on the Angel Clark radio show.

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