The Kevin Trudeau Show: 11-17-12

Today, Kevin explains how if your thinking is right and you’re not a fanatic, you will live a long healthy life.

Self Help:
Grass Fed Meat & Poultry
KT’s Daily Supplement Program
Change Your DNA Vibration

Health:
How Safe Are the Drugs in Your Medicine Cabinet?
Diet Sabotage: Nearly 1 In 5 Calorie Counts Wrong
Night Owls At Risk For Weight Gain
Butter & Cheese ‘Doesn’t Increase Risk of Heart Attacks’
Can Coffee Prevent Cancer?
Fluoride Consumption Leads to Brain Damage

Wealth:
Wells Fargo Fined $85 Million for Pushing Subprime Loans

Everything Kevin:
Become An Insider!
Stand with KT!
Kevin is on YouTube!
Sign Up For Kevin’s FREE Podcast
Follow Kevin on Twitter
Become A Fan of Kevin on Facebook

Take Trudeau on the Go! Click here to download this show to your iPod, mp3 player, or PC through iTunes!

Click below to watch the Kevin Trudeau Show!

The Kevin Trudeau Show: 9-22-12

Today, Kevin explains how if your thinking is right and you’re not a fanatic, you will live a long healthy life.

Self Help:
Grass Fed Meat & Poultry
KT’s Daily Supplement Program
Change Your DNA Vibration

Health:
How Safe Are the Drugs in Your Medicine Cabinet?
Diet Sabotage: Nearly 1 In 5 Calorie Counts Wrong
Night Owls At Risk For Weight Gain
Butter & Cheese ‘Doesn’t Increase Risk of Heart Attacks’
Can Coffee Prevent Cancer?
Fluoride Consumption Leads to Brain Damage

Wealth:
Wells Fargo Fined $85 Million for Pushing Subprime Loans

Everything Kevin:
Become An Insider!
Stand with KT!
Kevin is on YouTube!
Sign Up For Kevin’s FREE Podcast
Follow Kevin on Twitter
Become A Fan of Kevin on Facebook
Kevin’s Film Club
Kevin’s Book Club

Take Trudeau on the Go! Click here to download this show to your iPod, mp3 player, or PC through iTunes!

Click below to watch the Kevin Trudeau Show!

Romney Collects More in Donations From the Five Biggest Banks Than All Other Candidates Combined

January 30, 2012

Truth Out

By Pat Garofalo

“Why would anyone even consider voting for Mitt Romney?” –KTRN

Mitt Romney has been leading the way in the 2012 presidential race when it comes to donations from Wall Street, pulling in millions from the financial sector since he launched his campaign. And the industry’s favor for Romney comes across even more when looking at just the five biggest banks in the U.S.: JP Morgan Chase, Bank of America, Citigroup, Wells Fargo, and Goldman Sachs

In fact, as McClatchy News noted, Romney has received more in donations from employees of the nation’s five biggest banks than all of the other presidential candidates combined:

Employees at the five largest U.S. banks by assets, including Bank of America Corp. and Wells Fargo & Co., had given Romney about $600,000 through the first three quarters of 2011, according to the most recent filings available from the Federal Election Commission.

Click here for the full report.

Romney and Obama Share Same Bankster Campaign Contributors

January 18, 2012

Prison Planet

By Kurt Nimmo

“The saying ‘politicians are all the same’ rings true here.” –KTRN

Like Obama, Mitt Romney is a wind-up doll for Wall Street and the bankers. There is virtually no difference between them despite all the fetid air from the GOP propaganda machine.

This is revealed by a quick look at Romney’s top contributors. An Open Secrets page on top Romney contributors reads like a Who’s Who of Wall Street and the financial cartel. The top contributor is Goldman Sachs, followed by Credit Suisse Group, Morgan Stanley, Bank of America, JP Morgan Chase, UBS, Citigroup, Wells Fargo and Barclays – major players in the Wall Street and City of London bankster constellation.

Bain Capital is also on the list. It is a “financial services” and investment firm co-founded by Romney. Bain owns the establishment media propaganda conglomerate Clear Channel, which explains why “conservative” talk show hosts like Limbaugh, Hannity and Levin are supporting Romney, especially with the strong showing of Ron Paul in the primaries. Both Savage (real name Weiner) and Levin have gone so far as to call Paul a threat to the country.

In December, Mitt refused to release the identity of his “bundlers,” or people who gather contributions from many individuals in an organization or community and give the cash to the campaign.

In other words, the above list is only the tip of the iceberg. Romney’s lack of transparency about his bundlers indicates he is getting money from sources that want their identity concealed.

In November, it was reported that Jimmy Lee, a veteran Wall Street investment banker, and three other top executives at JPMorgan Chase & Co hosted a $2,500-per-person reception for Romney.

“I am committed to doing all that I can to help his campaign because I also believe he is the strongest challenger to President Obama,” Lee told Reuters. Lee said he has known Romney for almost all of his Wall Street career and that he made one of the first loans to Romney at Bain Capital.

Click here for the full report.

5 Ways to Make Banks Pay for Their Secret $7 Trillion Free Ride

December 8, 2011

Alter Net

By Eliot Spitzer

Imagine you walked into a bank, applied for a personal line of credit, and filled out all the paperwork claiming to have no debts and an income of $200,000 per year. The bank, based on these representations, extended you the line of credit. Then, three years later, after fighting disclosure all the way, you were forced by a court to tell the truth: At the time you made the statements to the bank, you actually were unemployed, you had a $1 million mortgage on your house on which you had failed to make payments for six months, and you hadn’t paid even the minimum on your credit-card bills for three months. Do you think the bank would just say: Never mind, don’t worry about it? Of course not. Whether or not you had paid back the personal line of credit, three FBI agents would be at your door within hours.

Yet this is exactly what the major American banks have done to the public. During the deepest, darkest period of the financial cataclysm, the CEOs of major banks maintained in statements to the public, to the market at large, and to their own shareholders that the banks were in good financial shape, didn’t want to take TARP funds, and that the regulatory framework governing our banking system should not be altered. Trust us, they said. Yet, unknown to the public and the Congress, these same banks had been borrowing massive amounts from the government to remain afloat. The total numbers are staggering: $7.7 trillion of credit—one-half of the GDP of the entire nation. $460 billion was lent to J.P. Morgan, Bank of America, Citibank, Wells Fargo, Goldman Sachs, and Morgan Stanley alone—without anybody other than a few select officials at the Fed and the Treasury knowing. This was perhaps the single most massive allocation of capital from public to private hands in our history, and nobody was told. This was not TARP: This was secret Fed lending. And although it has since been repaid, it is clear why the banks didn’t want us to know about it: They didn’t want to admit the magnitude of their financial distress.

Click here for the full report.

Kucinich: Federal Reserve Has Captured Control Of Our Government

November 30, 2011

The Raw Story

By Eric W. Dolan

“Does you think Dennis Kucinich secretly supports Ron Paul?” –KTRN

Rep. Dennis Kucinich (D-OH) called for the U.S. Federal Reserve to be reformed after Bloomberg reported the central bank secretly loaned nearly $8 trillion to financial institutions from 2007 to 2009.

Tens of thousands of documents obtained by Bloomberg under the Freedom of Information Act showed that banks reaped an estimated $13 billion in profits thanks to the low-interest loans. JPMorgan, Bank of America, Citigroup, Wells Fargo, Goldman Sachs and Morgan Stanley accounted for $4.8 billion of that total.

“Remember the great debate we had here over the 700 billion in TARP funds?” he said on the House floor Tuesday. “There was no debate over the 7.7 trillion the Fed gave the banks.”

“Did Congress have a clue?” he continued. “There is another game going on way over our heads, and our constituents are struggling while the banks with the help of the Feds have captured control of our government.”

“Now the rating services are threatening us, if we don’t come up with a deal they’ll downgrade U.S. debt. Could the threat to our national sovereignty be any clearer?”

Kucinich has proposed legislation, called the National Emergency Employment Defense (NEED) Act, that would incorporate the Federal Reserve within the United States Treasury and thereby make it accountable to Congress.

Click here for the full report and video.

Bank Of America Axes $5 Debit Card Fee

November 2, 2001

CNN Money

By Jason Kessler and Blake Ellis

Bank of America said Tuesday it’s axing its plan to charge a $5 fee for customers who use their debit cards to make purchases.

In September, the bank announced that it would begin charging most customers the monthly fee early next year.

But after widespread customer revolt and announcements by several of its rivals that they won’t charge similar debit-card fees, Bank of America (BAC, Fortune 500) backpedaled on its plan. Customers who use their debit cards will no longer incur the fee starting in January.

“We have listened to our customers very closely over the last few weeks and recognize their concern with our proposed debit usage fee,” said David Darnell, Bank of America’s co-chief operating officer. “Our customers’ voices are most important to us. As a result, we are not currently charging the fee and will not be moving forward with any additional plans to do so.”

7 banks that are still awesome

Before making the announcement, the bank was considering ways to soften the fee, by offering customers new ways of avoiding it — like making direct deposits or maintaining minimum balances.

But Bank of America still stuck out as other banks fell off the bandwagon. Late last week, Chase (JPM, Fortune 500) and Wells Fargo (WFC, Fortune 500) both called off pilot programs that would impose debit card fees in certain states.

On Monday, SunTrust (STI, Fortune 500), a large regional bank based in Atlanta, announced that it will no longer charge $5 a month for debit card purchases starting Wednesday. Shortly afterward, Alabama-headquartered Regions Bank (RF, Fortune 500) said it will nix its $4 monthly fee on Tuesday.

“When major banks started retracing their footsteps, it left the banks with the fee exposed to fairly significant potential market share losses” said Jefferson Harralson, an analyst with Keefe, Bruyette & Woods.

Customer revolt: The debit card fees these institutions originally charged (or planned to charge) sparked pledges by thousands of consumers to move their money out of big banks.

Click here for the full report from CNN.

The Coming Derivatives Crisis That Could Destroy The Entire Global Financial System

October 20, 2011

The Economic Collapse Blog

Most people have no idea that Wall Street has become a gigantic financial casino. The big Wall Street banks are making tens of billions of dollars a year in the derivatives market, and nobody in the financial community wants the party to end. The word “derivatives” sounds complicated and technical, but understanding them is really not that hard. A derivative is essentially a fancy way of saying that a bet has been made. Originally, these bets were designed to hedge risk, but today the derivatives market has mushroomed into a mountain of speculation unlike anything the world has ever seen before. Estimates of the notional value of the worldwide derivatives market go from $600 trillion all the way up to $1.5 quadrillion. Keep in mind that the GDP of the entire world is only somewhere in the neighborhood of $65 trillion. The danger to the global financial system posed by derivatives is so great that Warren Buffet once called them “financial weapons of mass destruction”. For now, the financial powers that be are trying to keep the casino rolling, but it is inevitable that at some point this entire mess is going to come crashing down. When it does, we are going to be facing a derivatives crisis that really could destroy the entire global financial system.

Most people don’t talk much about derivatives because they simply do not understand them.

Perhaps a couple of definitions would be helpful.

The following is how a recent Bloomberg article defined derivatives….

Derivatives are financial instruments used to hedge risks or for speculation. They’re derived from stocks, bonds, loans, currencies and commodities, or linked to specific events such as changes in the weather or interest rates.

The key word there is “speculation”. Today the folks down on Wall Street are speculating on just about anything that you can imagine.

The following is how Investopedia defines derivatives….

A security whose price is dependent upon or derived from one or more underlying assets. The derivative itself is merely a contract between two or more parties. Its value is determined by fluctuations in the underlying asset. The most common underlying assets include stocks, bonds, commodities, currencies, interest rates and market indexes. Most derivatives are characterized by high leverage.

A derivative has no underlying value of its own. A derivative is essentially a side bet. Usually these side bets are highly leveraged.

At this point, making side bets has totally gotten out of control in the financial world. Side bets are being made on just about anything you can possibly imagine, and the major Wall Street banks are making a ton of money from it. This system is almost entirely unregulated and it is totally dominated by the big international banks.

Over the past couple of decades, the derivatives market has multiplied in size. Everything is going to be fine as long as the system stays in balance. But once it gets out of balance we could witness a string of financial crashes that no government on earth will be able to fix.

The amount of money that we are talking about is absolutely staggering. Graham Summers of Phoenix Capital Research estimates that the notional value of the global derivatives market is $1.4 quadrillion, and in an article for Seeking Alpha he tried to put that number into perspective….

If you add up the value of every stock on the planet, the entire market capitalization would be about $36 trillion. If you do the same process for bonds, you’d get a market capitalization of roughly $72 trillion.

The notional value of the derivative market is roughly $1.4 QUADRILLION.

I realize that number sounds like something out of Looney tunes, so I’ll try to put it into perspective.

$1.4 Quadrillion is roughly:

-40 TIMES THE WORLD’S STOCK MARKET.

-10 TIMES the value of EVERY STOCK & EVERY BOND ON THE PLANET.

-23 TIMES WORLD GDP.

It is hard to fathom how much money a quadrillion is.

If you started counting right now at one dollar per second, it would take 32 million years to count to one quadrillion dollars.

Yes, the boys and girls down on Wall Street have gotten completely and totally out of control.

In an excellent article that he did on derivatives, Webster Tarpley described the pivotal role that derivatives now play in the global financial system….

Far from being some arcane or marginal activity, financial derivatives have come to represent the principal business of the financier oligarchy in Wall Street, the City of London, Frankfurt, and other money centers. A concerted effort has been made by politicians and the news media to hide and camouflage the central role played by derivative speculation in the economic disasters of recent years. Journalists and public relations types have done everything possible to avoid even mentioning derivatives, coining phrases like “toxic assets,” “exotic instruments,” and – most notably – “troubled assets,” as in Troubled Assets Relief Program or TARP, aka the monstrous $800 billion bailout of Wall Street speculators which was enacted in October 2008 with the support of Bush, Henry Paulson, John McCain, Sarah Palin, and the Obama Democrats.

Most people do not realize this, but derivatives were at the center of the financial crisis of 2008.

They will almost certainly be at the center of the next financial crisis as well.

For many, alarm bells went off the other day when it was revealed that Bank of America has moved a big chunk of derivatives from its failing Merrill Lynch investment banking unit to its depository arm.

So what does that mean?

An article posted on The Daily Bail the other day explained that it means that U.S. taxpayers could end up holding the bag….

This means that the investment bank’s European derivatives exposure is now backstopped by U.S. taxpayers. Bank of America didn’t get regulatory approval to do this, they just did it at the request of frightened counterparties. Now the Fed and the FDIC are fighting as to whether this was sound. The Fed wants to “give relief” to the bank holding company, which is under heavy pressure.

This is a direct transfer of risk to the taxpayer done by the bank without approval by regulators and without public input.

So did you hear about this on the news?

Probably not.

Today, the notional value of all the derivatives held by Bank of America comes to approximately $75 trillion.

JPMorgan Chase is holding derivatives with a notional value of about $79 trillion.

It is hard to even conceive of such figures.

Right now, the banks with the most exposure to derivatives are JPMorgan Chase, Bank of America, Goldman Sachs, Citigroup, Wells Fargo and HSBC Bank USA.

Morgan Stanley also has tremendous exposure to derivatives.

You may have noticed that these are some of the “too big to fail” banks.

The biggest U.S. banks continue to grow and they continue to get even more power.

Back in 2002, the top 10 U.S. banks controlled 55 percent of all U.S. banking assets. Today, the top 10 U.S. banks control 77 percent of all U.S. banking assets.

These banks have gotten so big and so powerful that if they collapsed our entire financial system would implode.

You would have thought that we would have learned our lesson back in 2008 and would have done something about this, but instead we have allowed the “too big to bail” banks to become bigger than ever.

And they pretty much do whatever they want.

A while back, the New York Times published an article entitled “A Secretive Banking Elite Rules Trading in Derivatives”. That article exposed the steel-fisted control that the “too big to fail” banks exert over the trading of derivatives. Just consider the following excerpt from the article….

On the third Wednesday of every month, the nine members of an elite Wall Street society gather in Midtown Manhattan.

The men share a common goal: to protect the interests of big banks in the vast market for derivatives, one of the most profitable — and controversial — fields in finance. They also share a common secret: The details of their meetings, even their identities, have been strictly confidential.

So what institutions are represented at these meetings?

Well, according to the New York Times, the following banks are involved: JPMorgan Chase, Goldman Sachs, Morgan Stanley, Bank of America and Citigroup.

Why do those same five names seem to keep popping up time after time?

Sadly, these five banks keep pouring money into the campaigns of politicians that supported the bailouts in 2008 and that they know will bail them out again when the next financial crisis strikes.

Those that defend the wild derivatives trading that is going on today claim that Wall Street has accounted for all of the risks and they assume that the issuing banks will always be able to cover all of the derivative contracts that they write.

But that is a faulty assumption. Just look at AIG back in 2008. When the housing market collapsed AIG was on the wrong end of a massive number of derivative contracts and it would have gone “bust” without gigantic bailouts from the federal government. If the bailouts of AIG had not happened, Goldman Sachs and a whole lot of other people would have been left standing there with a whole bunch of worthless paper.

It is inevitable that the same thing is going to happen again. Except next time it may be on a much grander scale.

When “the house” goes “bust”, everybody loses. The governments of the world could step in and try to bail everyone out, but the reality is that when the derivatives market comes totally crashing down there won’t be any government on earth with enough money to put it back together again.

A horrible derivatives crisis is coming.

It is only a matter of time.

Stay alert for any mention of the word “derivatives” or the term “derivatives crisis” in the news. When the derivatives crisis arrives, things will start falling apart very rapidly.

Click Here For The Full Report

Federal Records Show Romney Campaign Bought And Paid For By Big Banks

October 19, 2011

InfoWars.Com

Steve Watson

A new independent analysis of 2012 presidential candidates’ campaign contributions confirms that Mitt Romney is the banksters’ choice for the GOP nominee, and indeed for President.

Records of campaign contributions based on Federal Election Commission data released electronically this past weekend, reveal that Romney’s top 20 donors are made up almost exclusively of the biggest private banks on the planet.

Among Romney’s top twenty donors are Credit Suisse Group, Morgan Stanley, Barclays, Bank of America, JPMorgan Chase & Co, Wells Fargo and Citigroup Inc.

By far and away Romney’s largest campaign contributions have emanated from employees and officials at Goldman Sachs, with a total of $354,700 donated.

The donations are tallied from the organization’s PAC, its individual members or employees or owners, and those individuals’ immediate families.

Remember that the limit on donating to candidates is $2,400 per person, as per the Federal Election Campaign Act.

In stark contrast to Romney, and every other candidate for that matter, the top three organizations that employ Congressman Ron Paul’s supporters are the U.S. Air Force, the U.S. Army, and the U.S. Navy.

Indeed, the latest figures once again show that the Ron Paul 2012 Campaign has raised more donations from active military than all other presidential candidates—Republican or Democrat.

Paul tallied more than $75,000 from servicemen and women in the third quarter.

Paul also raised more from active military than all other GOP competitors combined, and more than incumbent President Barack Obama.

Unlike the majority of the rest of the field, Ron Paul’s donations have come solely from individuals and not from the use of PACs, bundling, subsidiaries and the like – indicating that the Congressman is the only candidate with purely grassroots support.

“This fundraising analysis confirms Americans’ beliefs about Ron Paul and their suspicions about Mitt Romney.” said Ron Paul 2012 National Campaign Chairman Jesse Benton in a statement.

“It is that Dr. Paul is extraordinarily popular and accepted by the everyman and by everyday heroes, while Romney relies almost exclusively on his big-business ties,” Benton added.

Paul’s modest foreign policy, his continued support and tireless work with and on behalf of veterans and his truly authentic anti-war credentials are all factors behind his large pool of active military support.

“Ron Paul is the only candidate with a plan to end the growing number of unconstitutional undeclared wars, having an unclear connection to U.S. national security, end costly overseas nation-building that pays no friendship dividends, and stop subsidizing global security.” said Jesse Benton.

“Instead Dr. Paul will bring our troops home, secure our borders and lead the nation in practicing a traditional Republican noninterventionist foreign policy.” Benton added.

Paul is placed fourth in the fundraising stakes, behind Obama, Romney and Perry, so far in the three quarters of the year that have passed.

Last night’s debate in Las Vegas saw every candidate bickering and viciously attacking one and other over each of their flip flopping principles and big government voting records.

Only one candidate remains immune from such shameful displays – because his consistent and untainted record speaks for itself.

Click Here For The Full Report From InfoWars

88% In Poll Say They’re Worried About Retirement

October 6, 2011

USA Today

By: Christine Dugas

Retirement worries continue to grow, and the cloud of pessimism has blanketed all Americans.

Last month, 88% of 800 registered voters said they were concerned about maintaining a comfortable standard of living in retirement, up from 73% last year, says a national poll out Thursday by Americans for Secure Retirement (ASR).

In the past, Americans have differed about what causes the most anxiety. Now, retirement has moved to the forefront, says Celinda Lake, president of Lake Research Partners, a public opinion and political strategy research firm that conducted the poll.

Regardless of age, income, education or political party, the poll found that retirement is at the top of the list.

“This recession has been so terrible and so long that we essentially have flattened consumer confidence across essentially everyone in the country,” says Bill McInturff, founder of Public Opinion Strategies, which also conducted the poll. “It’s not happy data.”

Optimism had been improving, but in September, it plunged to nearly the same low it reached during the financial crisis in 2008, according to a Gallup Poll released this week by Wells Fargo. Its index of investor and retirement sentiment, which showed optimism high with a positive reading of 42% in February, plunged to a negative 45% last month.

In addition to unemployment and market volatility, Americans say that the confrontational nature of politics in Washington has caused them to lose control of their financial future. And their pessimism has risen, because many investors, 65%, say they have little or no control of their savings, the Gallup Poll found.

“People feel like Congress is not listening to them,” says Nancy Hwa, spokeswoman for the Pension Rights Center. “Poll after poll is showing public support for Social Security and a desire not to see it weakened or cut.”

Half of voters say lawmakers should not cut Social Security and Medicare, the ASR poll found. They say that the future of Social Security and the ability to maintain their standard of living in retirement is their biggest concern. When asked what the government should do, 88% wanted tax advantages that will help them save money for retirement.

“As policymakers look for ways to address our national debt, they must find ways to generate peace of mind among Americans as they look toward retirement,” says Shannon Hunt, executive director of ASR.

Click here for the report from USA Today

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