Banks prepare for the return of the drachma

By Douwe Miedema and Sarah White LONDON (Reuters) – Banks are quietly readying themselves to start trading a new Greek currency. Some banks never erased the drachma from their systems after Greece adopted the euro more than a decade ago and would be ready at the flick of a switch if its debt problems forced [...]

The American Who Quit Money To Live In A Cave

Daniel Suelo gave up on money in 2000. He walked into a phone booth, pulled out 30 dollars and left it. Twelve years later, Suelo still does not have a personal i.d. bank accounts, a modern home, does not take money, or live off of federal welfare. Suelo, lives in caves in the canyon lands [...]

Financial Repression in Italy

Author Pater Tenebrarum In Italy, the Monti government has begun to control the spending habits of its citizens to a never before seen extent (hat tip to ‘Das Gelbe Forum’ in Germany). Its crackdown on alleged tax evaders has so far produced 23 suicides by people who were either utterly ruined by the State’s demands [...]

Another way to kill US farmers: Seize their bank accounts on phony charges

By Rady Ananda Food Freedom News Monsanto’s Food and Drug Administration can’t close down small dairies and private food clubs fast enough, bursting on the scene with guns drawn as if the criminalized right to contract for natural foods we’ve consumed for millennia deserves SWAT attention. Now, Obama has the Dept. of Justice going after [...]

The US Has Finally Done It: Mexican Immigrants Become Emigrants

By Tyler Durden You know its bad when…the net flow of Mexicans into the US has fallen so much that there is a high probability that it is now in reverse ending around forty years of inward migration. The Pew Hispanic Center notes that the standstill – after more than 12 million current immigrants have [...]

Greek Town Implements Revolutionary Barter System Without Euro

Activist Post Greece continues along a path toward self-sufficiency that could very well see them break free from their debt servitude. In the wake of their pillaging by international financiers, Greeks who have realized that protesting is likely to bring little relief have begun to implement barter systems to meet their local community needs. Through [...]

Do the Wealthy Lie, Cheat and Steal More Than the Rest of Us?

By Richard Schiffman The simple answer appears to be “yes” — in certain circumstances. The research supporting this conclusion was not conducted by Occupy Wall Street, but at the University of California, Berkeley, where social psychologist Paul Piff and a team of graduate students devised a series of experiments to assess the effect of wealth [...]

Did Iceland forgive the majority of its citizens’ mortgage debt?

by Michael Laprarie In the case of Iceland the situation was more difficult, due in part to the much bigger proportion of the population that was affected, and to the wide presence of foreign currency mortgages. The government and the newly constructed Icelandic banks developed a template to be used in case by case restructuring [...]

Quote of the Day – In the distance, I see a frightful storm…

“In the distance, I see a frightful storm brewing in the form of untethered government debt. I choose the words ‘frightful storm‘ deliberately to avoid hyperbole. Unless we take steps to deal with it, the long-term fiscal sitauation of the federal government will be unimaginably more devastating to our economic prosperity than the subprime debacle [...]

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