Category Archives: Money

Desperate Bulgarian man sets himself ablaze

A Bulgarian man set himself on fire Wednesday to protest poverty in his country, becoming the sixth citizen to do that in a month. The dramatic self-immolations have continued, despite an appeal by Bulgaria’s influential Orthodox Church that such desperate actions must stop. They also have been part of nationwide protests that recently brought down… Read More »

Twinkies Sale Approved By Judge

A bankruptcy judge on Tuesday approved the sale of Twinkies to a pair of investment firms, one of which has said it hopes to have the cakes back on shelves by summer. Hostess Brands Inc. is selling Twinkies, Ding Dongs, Ho Hos and other brands to Apollo Global Management and Metropoulos & Co. for $410… Read More »

Iraq war killed 120,000, cost U.S. $800 billion

At least 116,000 Iraqi civilians and more than 4,800 coalition troops died in Iraq between the outbreak of war in 2003 and the U.S. withdrawal in 2011, researchers estimated Friday. Its involvement in Iraq has so far cost the United States $810 billion and could eventually reach $3 trillion, they added. The estimates come from… Read More »

NYSE prepares disaster backup plan: trading without humans

The New York Stock Exchange is readying plans to be able to operate without human traders in case another disaster, such as Superstorm Sandy, forces the shutdown of its historic trading floor in downtown Manhattan, The Wall Street Journal reported. NYSE Euronext (NYX.N) is preparing to submit details of the plan to the U.S. Securities… Read More »

How Medical Ripoffs Threaten Your Health Security

Industry, by corrupting science has caused a double dose of harm. First, as the Mecola article below states, medical doctors are performing unnecessary and even harmful procedures. The other problem is a resulting lack of trust in science which opens the doors for people to spend money and time on alternative medicine which is also… Read More »

Happy 100th Birthday, Big Oil Tax Breaks

Automatic across-the-board budget cuts will take hold on Friday, affecting job growth, state education programs,environmental agencies, and women’s health programs. The sequester actually shares an important anniversary — with Big Oil tax breaks. It is not as well-known a date, but one type of deduction, the percentage depletion allowance, celebrates its 100-year anniversary today. Depletion… Read More »

Peanut oil in vaccines behind widespread peanut allergy epidemic

  More than one million children living in America today suffer from peanut allergy, and a significant percentage of these have such severe symptoms that they must carry around self-injectable epinephrine just in case they accidentally become exposed to the food. According to available records; however, virtually nobody had peanut allergy prior to 1900 despite… Read More »

Lawsuit seeks $75 billion in death of U.S. agent in Mexico

 Answers have been elusive on what may have contributed to the February 15, 2011, ambush that killed a U.S. agent and injured another while on assignment in Mexico. Was Immigration and Customs Enforcement Agent Jaime Zapata’s death due in part to negligence by his supervisors? Do the U.S. gun shops that sold the weapons used… Read More »

Scientists Discover How Bacteria Changes Ions Into Gold

Bacteria with the ability to change ions into solid gold? This scenario may sound like a biochemist’s version of a fairy tale, but it’s real and scientists at McMaster University have just described how the process works in a recent article published online in the journal Nature Chemical Biology. The bacteria is called Delftia acidovorans,… Read More »

Australian 177 oz gold nugget worth more than its weight in gold

The Y-shaped nugget, weighing 5.5kg (177 ounces), was buried 60cm beneath the ground near the town of Ballarat in Victoria. Local experts said they could not recall any nugget even approaching that size being discovered in the area previously. Michael Cooper believes it is likely to attract the attention of aficionados of the precious metal.… Read More »

Secret and Lies of the Bailout

It has been four long winters since the federal government, in the hulking, shaven-skulled, Alien Nation-esque form of then-Treasury Secretary Hank Paulson, committed $700 billion in taxpayer money to rescue Wall Street from its own chicanery and greed. To listen to the bankers and their allies in Washington tell it, you’d think the bailout was… Read More »

How the FBI coordinated the crackdown on Occupy

Naomi Wolf – It was more sophisticated than we had imagined: new documents show that the violent crackdown on Occupy last fall – so mystifying at the time – was not just coordinated at the level of the FBI, the Department of Homeland Security, and local police. The crackdown, which involved, as you may recall,… Read More »

U.S. Secret Service Bans Certain Gold and Silver Coins On eBay

eBay was contacted by the U.S. Secret Service sometime last month to remove the Liberty Dollar precious metal coins. Citing consistency with eBay’s general policy of not listing counterfeit items, eBay spokesperson Ryan Moore confirmed the ban with Coin World. The following email was sent to affected sellers when the systematic removals began: The United… Read More »

Superman-strength bacteria produces gold

Gold flecks produced by the art-science experiment “The Great Work of the Metal Lover,” by Adam Brown, MSU associate professor of electronic art and intermedia. Photo by G.L. Kohuth. For a photo gallery, click here. At a time when the value of gold has reached an all-time high, Michigan State University researchers have discovered a… Read More »

‘Popcorn lung’: Wayne Watson wins $7.2m in US court

A US man has been awarded $7.2m (£4.4m) in damages after claiming he developed “popcorn lung” from inhaling the artificial butter in microwave popcorn. A Colorado jury agreed with Wayne Watson that a popcorn manufacturer should have had warning labels that the bag’s fumes were dangerous to inhale. Defence lawyers argued that Mr Watson’s problems… Read More »

Taxes, not one cent you pay goes to this country?

I’m listening to Alex Jones, streaming on an iPhone using “5-0 Radio Pro” and he just said that the money we pay the IRS does not go to support anything in the USA. Seems hard to believe… How can no Federal taxes be going to US projects?

What’s In Your Wallet? Wait, You Don’t Need One

… Google, Starbucks and Wal-Mart are among the many firms that are eager to replace consumers’ wallets and stores’ cash registers, with smartphones and other mobile devices. Recently, Intuit — the company that owns the personal finance site Mint and makes TurboTax and Quicken — has been selling a small attachment for smartphones called “Go… Read More »

Millionaire buys every foreclosed home in Michigan county for $4.8 million

A Michigan millionaire decided to go into the real estate business with a bang last week by buying every tax foreclosed property offered at a recent county auction. MyFoxDetroit.com reports Bill McMachen, a businessman and former yacht dealer, paid about $4.8 million for all 650 tax foreclosed properties at Macomb County’s July 31 sale. Authorities… Read More »

Pepper Spray Lieutenant John Pike no longer at UC Davis

… The University of California, Davis, cop that made headlines for blasting peaceful protesters with military-grade pepper-spray last year is no longer employed by the school. Pike, a Sacramento police officer-turned-campus cop, became the target last year of a nationwide campaign spearheaded by activists with Occupy Wall Street and Anonymous after images of him discharging… Read More »

Canadian bills: Melting in the heat?

They were tested in extreme temperatures, ranging from 140°C and to -75°C. But now, it seems, the new Canadian 50 and 100 dollar bills can’t take the heat. In fact, in some cases, the polymer bills have been shrivelling up like a piece of cooked bacon. As the Toronto Star reported this week, some Canadians… Read More »

Volkswagen agrees to buy rest of Porsche for $5.6bn

Volkswagen says it has agreed a deal to buy the remaining 50.1% stake in Porsche it doesn’t already own by the start of next month. VW will pay 4.46bn euros ($5.6bn; £3.6bn) plus one VW common share to acquire the stake. The two firms had agreed in 2009 to merge by the end of 2011,… Read More »

Larry Ellison, Oracle CEO, Buys Hawaiian Island of Lanai

Chief Executive Officer Larry Ellison has agreed to buy 98 percent of the Hawaiian island of Lanai, according to the current landowner and the state’s governor. “It is my understanding that Mr. Ellison has had a long- standing interest in Lanai,†Governor Neil Abercrombie said in a statement. “His passion for nature, particularly the ocean,… Read More »

Gold Slumps Most in Two Weeks After Fed Expands Operation Twist

Gold posted the biggest drop in almost two weeks after the Federal Reserve said it would extend its Operation Twist program, while refraining from announcing additional debt purchases. The central bank will expand its program to replace short- term bonds with longer-term debt by $267 billion through the end of the year in a bid… Read More »

Rupee coins accidently made with gold?

  How much is a one rupee coin worth? Up to 2500 rupees if you believe the rumours sweeping Pakistan that the humble coin had inadvertently been made with gold instead of the usual tiny percentage of copper. Shopkeepers across the country have reported being approached by dealers offering vast sums for a coin –… Read More »

Chinese Company Buys U.S. AMC Theater Chain

A Chinese company is planning to buy US cinema chain, AMC Entertainment Holdings. The acquisition will create the largest movie theater chain in the world. On Monday Dalian Wanda Group Co. released details on the deal which will be worth just over 2.6-billion-dollars. The buyout of AMC will be the largest corporate takeover by a… Read More »

Are sweaty brokers more ethical?

If you want to know how ethical your broker is, give them a moral dilemma and see how much they sweat before deciding what to do. It’s quite a jump from the laboratory to real-world decisions about asset management but British researchers have found that gut feeling can override rational thought when people are faced… Read More »

JPMorgan $2 billion trading loss, reputation hit

JPMorgan Chase & Co said on Thursday that it suffered a $2 billion trading loss from a failed hedging strategy, a disclosure that hit financial stocks and the reputation of the bank and its prominent CEO, Jamie Dimon. Since the end of March, the company’s Chief Investment Office “has had significant mark-to-market losses in its… Read More »

Iceland Solves Banking Crisis by Indicting CEOs, Forcing Mortgage Relief

…Richard points to recent events in Iceland as another successful application of Sweden’s model. There, the country’s banks forgave loans equivalent to 13% of gross domestic product, according to a Bloomberg article Richard cites. The equivalent in the United States would be about $1.95 trillion of mortgage debt writedowns. Icelandic banks agreed to forgive all… Read More »

Canada’s newest coin glows in the dark

Heads or bones? Invisible during the day, the Pachyrhinosaurus’s skeleton glows in the dark. (Credit: Royal Canadian … The mint’s latest collectible coin features a dinosaur whose skeleton shines at night from beneath its scaly hide. It’s actually two images on one face, which could be a world’s first. The other side depicts Queen Elizabeth.… Read More »

Gas Prices Driven Up By Credit Card Swipe Fees, Convenience Stores Say

Ten months after the American retailers won a lobbying victory on Capitol Hill against debit card swipe fees, a trade group representing convenience stores is pushing for the government to crack down on similar fees for credit cards. According to a new report from the National Association of Convenience Stores, swipe fees were adding roughly… Read More »

Kwok brothers arrested in Hong Kong on bribery charges

Two billionaire brothers who run one of Asia’s biggest property companies have been arrested on suspicion of bribery. Thomas and Raymond Kwok are joint chairmen and managing directors of Sun Hung Kai Properties in Hong Kong. The Independent Commission Against Corruption said a former senior government official was also taken into custody on corruption charges.… Read More »

Uganda Welcomes Oil, but Fears Graft It Attracts

When billions of barrels of oil reserves were found in Uganda five years ago, the discovery seemed like a gift from heaven to many in this poor, landlocked country. Despite Ugandans’ dreams of industrialization, the country’s most lucrative export is coffee, and fish is second. Nearly 40 percent of the population survives on less than… Read More »