Economy

Jon Corzine will not face criminal charges over MF Global

Jon Corzine

If you are a billionaire former Goldman Sachs CEO, ex-governor, and one of Obama’s biggest donors and steal $1.2 billion directly from the accounts of your customers and cover-up that theft, then you are not a criminal. If you reveal the un-Constitutional spying on all American citizens by the government, you …

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Only 47% of Americans have a full-time job

Looking for a job

The release of the June Jobs’ Report Friday was something of a relief for the markets. The Labor Department reported that the economy gained 195,000 jobs in June, which beat economists’ expectations. The Department also reported that the economy gained 70,000 more jobs in April and May than it originally estimated. The …

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Jon Corzine charged by regulators in connection with MF Global collapse

jon corzine

Regulators on Thursday settled charges against MF Global over the futures brokerage’s collapse, and also charged former Chief Executive Jon Corzine and former Assistant Treasurer Edith O’Brien in connection with the alleged misuse of customer funds. The Commodity Futures Trading Commission said MF Global had agreed to settle all charges …

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Police raid major Italian football clubs in money laundering probe

Serie A

Italian police have seized documents from Italian and foreign clubs, including 18 in the top league, as part of an investigation into tax evasion and money laundering involving player transfers, Reuters reports. Apart from the Series A  teams, 11 B league teams and 12 from the lower divisions are being …

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Each day 134 retail outlets close in Italy

Italy shop

If anyone is still not convinced that surging stock bourses in Europe are indicative of anything more than central bank liquidity, carry trade allocationand localized asset bubbles, we present a snapshot of what is actually happening on the ground via Italy’s Ansa: “It’s a massacre,” said Confesercenti President Marco Venturi. …

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Dolce and Gabbana sentenced to 20 months jail for $1.3b in tax evasion

Dolce and Gabbana

The latest casualty of Europe’s berserk pursuit of tax evaders everywhere: not some Russian oligarch with a $1 billion Cypriot bank account but famous Italian designers, Dolce and Gabbana. WSJ reports that a Milan court has convicted the designers Domenico Dolce and Stefano Gabbana of tax evasion. The pair were …

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Iranian rial currency targeted for destruction

Iran Rial

Effective July 1st, the United States has authorized new sanctions directly targeting the already-devalued Iranian rial with penalties for transacting or holding the currency outside of Iran. This represents the first time that the U.S. has focused specifically on the Iranian monetary unit itself and the ninth set of sanctions …

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Ron Paul: the Federal Reserve has lost control of interest rates

Ron Paul

Today, Campaign for Liberty Chairman Ron Paul issued the following statement in response to the Federal Open Market Committee’s decision to continue its failed bond buying program: “Chairman Bernanke and the government falsely believe they can single-handedly control interest rates. Yes, there can be some manipulation, but markets are much …

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Dollar to collapse, gold will “go to infinity” – Ron Paul

Gold infinity dollar collapse

Former congressman says that precious metals will literally become priceless. Appearing on CNBC yesterday, former Congressman Ron Paul warned that if the US continues on its current course, the dollar will collapse, and gold will literally be priceless. “Eventually, if we’re not carefully, it will go to infinity, because the …

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