The ISIS’ Top Line: $2 Million In Daily Revenue From “Oil Sales, Extortion, Taxes And Smuggling”

A few days ago when we commented, somewhat in jest, on the seemingly impressive strategic planning behind the Islamic State jihadists becoming a “commodities trading powerhouse” (when it was revealed that ISIS had sold the grain it had stolen from the Itaqi government back to the government), we described just how well-versed in the ways of the modern world ISIS was: “from quickly taking control of (i.e., robbing) a central bank, to capturing the latest and greatest in US military equipment, to staging an amazing blitz-campaign that has resulted in the creation of a caliphate and captured the bulk of northern Iraq and a third of Syria including all of the former country’s oil fields, to even having glossy year end annual reports, one would almost be forgiven in assuming that some vastly more strategic minds are behind what on paper at least would be a far more disorganized force.”
Now, thanks to Bloomberg we can quantify this particular strategy, and put top-line numbers with the ISIS faces, so to speak: “The Islamic State, which now controls an area of Iraq and Syria larger than the U. K., may be raising more than $2 million dollars a day in revenue from oil sales, extortion, taxes and smuggling, according to U. S. intelligence officials and anti-terrorism finance experts.“
In other words, a well-greased government machine, and not only that but one which has an infinitely greater net worth than the US, because with a net worth of some $2 billion (and rising by $2 million daily), the Islamic State has a “worth” of some $17 trillion more than the United States, which instead of equity is funded entirely through debt, and ever more debt, thanks to the ongoing devaluation of the world’s reserve currency.
Some more on how ISIS became the world’s first self-contained, and funded, jihadist entity:

This post was published at Zero Hedge on 08/25/2014

Creepy Mission: Obama “Lays Groundwork For Air Strikes” In Syria Next

What’s the opposite of ‘limited’ air-strikes? As The WSJ reports, The Pentagon is preparing to send surveillance aircraft, including drones, into Syrian airspace to gather intelligence on Islamist targets, laying the groundwork for a possible expansion of the limited U. S. military air campaign beyond Iraq, senior U. S. officials said. The ‘Nobel-Peace-Prize-Winner-In-Chief’ appears to have suddenly gone full hawk-tard – one wonders which little birdy whispered in his ear that, with the Fed pulling out, the whole ponzi is up unless the US undertakes a populist deficit-bursting war…

This post was published at Zero Hedge on 08/25/2014

Libyan Government Overrun, Central Bankers Prepping Invasion Of Libya – Episode 450

The following video was published by X22Report on Aug 25, 2014
France is collapsing and the President dissolves government. One of every two Cyprus loans are in default. Real Estate is now imploding in the month of July, the bump in sales is over, the hard slide down is accelerating. China is designing their own OS and Russia is looking to replace the SWIFT system. Federal Reserve takes a survey and it reports Obamacare is destroying business. Dempsey heading to Afghanistan to keep US soldiers stationed there. Poroshenko dissolves parliament using social media. Libya is now overrun, government is out. US and other nations preparing to invade and recapture Libya. US Government officials pushing the agenda of terror.

40% of U.S. on Welfare; Obamacare Expands Welfare by 23 Million; More on Welfare Than Full-Time-Employed

As a result of Obamacare Medicaid expansion coupled with means-tested Obamacare assistance, I estimate welfare rolls expanded from 35.4% of the population in 2012 to about 40% in 2014.
Let’s go through the math to see how I make that estimate.
The latest welfare statistics are from year-end 2012. Those figures show 35.4 Percent: 109,631,000 on Welfare.
109,631,000 living in households taking federal welfare benefits as of the end of 2012, according to the Census Bureau, equaled 35.4 percent of all 309,467,000 people living in the United States at that time.
When those receiving benefits from non-means-tested federal programs – such as Social Security, Medicare, unemployment and veterans benefits – were added to those taking welfare benefits, it turned out that 153,323,000 people were getting federal benefits of some type at the end of 2012.
Subtract the 3,297,000 who were receiving veterans’ benefits from the total, and that leaves 150,026,000 people receiving non-veterans’ benefits.

This post was published at Global Economic Analysis on Saturday, August 23, 2014

Putin’s Chief ‘Integration’ Advisor Warns “Transition Has Always Come About Through War”

When we last met Sergei Glazyev, Vladimir Putin’s chief ‘integration’ adviser (who has been regularly featured on these pages in the past (see Putin Adviser Threatens With Dumping US Treasurys, Abandoning Dollar If US Proceeds With Sanctions and Putin Adviser Proposes “Anti-Dollar Alliance” To Halt US Aggression Abroad for two examples) he explained “how the U. S. military and oligarchs are trying to maintain leadership in the global competition with China.“
Arguably the best informed man in Russia, his perspective seems important to grasp as he considers:
“The world today is going through a year of overlapping cyclical crises. This is a period when the global economy is changing as the structure that has driven economic growth for 30 years has exhausted itself. The world needs to transition to a new system and transition has always come about through war…

This post was published at Zero Hedge on 08/23/2014

Federal Reserve Branch Bank Concludes Obamacare a Disaster for Businesses

Each month, branch banks for the Federal Reserve send out questionnaires and surveys to businesses as a way to test the climate of the economy. In the month of August, the Philadelphia branch asked businesses what the full extend and effect so far from the new Affordable Healthcare Act (Obamacare) was, and the responses they received were a disaster. In the majority of responses, businesses either let go of employees to adjust to the higher costs imposed upon them by the Federal government, moved full time employees to part time status, or, changed benefit plans so that employees would be forced to pay more towards their premiums.
What the survey found was very disturbing: not only did businesses report that as a result of Obamacare the number of workers they employ is lower than higher (18.2% vs 3.0%), that there has been an increase in part time jobs (18.2% higher vs 1.5% lower), leading to a big increase in outsourcing and most importantly, Obamacare costs are being largely passed on to customers (28.8% reporting higher vs 0.0% lower), the punchline was that while there is basically no change in the number of employees covered (17.6% higher vs 14.7% lower and 67.6% unchanged), there has been a big jump in Premiums, Deductibles, Out-of-pocket maximums, and Copays, which has been ‘matched’ by a far greater reduction in the range of medical coverage and the size of the network.
In short a disaster. – Zerohedge

This post was published at The Daily Sheeple on August 24th, 2014

Cornel West Blasts Obama Is A “Brown-Faced Clinton”, A “Post-Traumatic Depression” Will Follow

Outspoken Union Theological Seminary professor Cornel West goes where very few ‘thinkers-of-color’ have had the courage to go in this interview with Salon’s Thomas Frank: “The thing is, [Obama] posed as a progressive and turned out to be counterfeit. We ended up with a Wall Street presidency, a drone presidency, a national security presidency. The torturers go free. The Wall Street executives go free… we ended up with a brown-faced Clinton. Another opportunist. Another neoliberal opportunist… So you got low-quality black leadership. Al Sharpton is who? He’s a cheerleader for Obama… Eric Holder won’t touch the Wall Street executives; they’re his friends… I think a post-Obama America is an America in post-traumatic depression.”
Excerpted from Salon,
…how do you feel things have worked out since then, both with the economy and with this president? That was a huge turning point, that moment in 2008, and my own feeling is that we didn’t turn.
No, the thing is he posed as a progressive and turned out to be counterfeit. We ended up with a Wall Street presidency, a drone presidency, a national security presidency. The torturers go free. The Wall Street executives go free. The war crimes in the Middle East, especially now in Gaza, the war criminals go free. And yet, you know, he acted as if he was both a progressive and as if he was concerned about the issues of serious injustice and inequality and it turned out that he’s just another neoliberal centrist with a smile and with a nice rhetorical flair. And that’s a very sad moment in the history of the nation because we are – we’re an empire in decline. Our culture is in increasing decay. Our school systems are in deep trouble. Our political system is dysfunctional. Our leaders are more and more bought off with legalized bribery and normalized corruption in Congress and too much of our civil life. You would think that we needed somebody – a Lincoln-like figure who could revive some democratic spirit and democratic possibility.

This post was published at Zero Hedge on 08/24/2014

The Federal Reserve Explained in 7 Minutes

Is the Federal Reserve a government institution? How and when was this central bank of the United States formed? Why are US citizens forced to divulge all their financial information under penalty of law, yet that of the Federal Reserve remains veiled? The following short video sheds light on this otherwise dark banking enigma.

For more information on this shady outfit, read this brief article on exactly how the Federal Reserve System works. And see a simple, illustrated example of the subtle fleecing of the US currency system since the Fed’s inception.