According to the Bureau of Labor Statistics, the US economy created 236,000 new jobs in February. If you believe that, I have a bridge in Brooklyn that I’ll let you have at a good price.

Where are these alleged jobs? The BLS says 48,000 were created in construction. That is possible, considering that revenue-starved real estate developers are misreading the housing situation.

Then there are 23,700 new jobs in retail trade, which is hard to believe considering the absence of consumer income growth and the empty parking lots at shopping malls. Read more È

As the global economy continues to slow down, the world is being asked to focus on issues of so-called “sovereign debt,” “austerity,” “fiscal responsibility,” “belt tightening” and other such euphemisms for the grim reality that the public is now being asked to pony up the dough for the trillions that have been handed over to the banisters in the past few years. What the constant focus on these issues effectively hides, however, is that underlying the economic woes that are the symptom of the disease is the disease itself: the monetary system.

In this third episode of our new series on ‘Money’ James Corbett explores the idea of self-issued credit and elimination of the need for the outdated “technology” of Federal Reserve notes or central bank administered national currencies, and the enormous implications of this system.

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The “fiscal cliff� is another hoax designed to shift the attention of policymakers, the media, and the attentive public, if any, from huge problems to small ones.

The fiscal cliff is automatic spending cuts and tax increases in order to reduce the deficit by an insignificant amount over ten years if Congress takes no action itself to cut spending and to raise taxes. In other words, the “fiscal cliff� is going to happen either way.

The problem from the standpoint of conventional economics with the fiscal cliff is that it amounts to a double-barrel dose of austerity delivered to a faltering and recessionary economy. Ever since John Maynard Keynes, most economists have understood that austerity is not the answer to recession or depression.

Regardless, the fiscal cliff is about small numbers compared to the Derivatives Tsunami or to bond market and dollar market bubbles. Read more È

As residents of the Eurozone are all too aware these days, and others around the world are gradually beginning to understand, large, centrally-administered monetary unions may be the dream of the central banksters and the technocrats, but are a colossal failure in meeting the needs of ordinary citizens.

As we examined on the program last week, the standard monetary paradigm of the developed western world relies on central bank administered fiat money created as debt-based instruments owed back, at interest, the very bankers who are given the privilege of creating this money out of nothing. With a literal license to print money, and to direct that money into those sectors of the economy they see fit by approving or denying credit to businesses and industries on a whim, it is not difficult to see how this system benefits the banksters first and foremost.

In this second episode of our new series on ‘Money’ James Corbett explores alternative currency solution(s), and digs into questions such as what happens when currency begins to fail, and must the public merely wait for the inevitable collapse, and then submit to whatever new monetary paradigm the banksters create from the ashes of the old order.

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Statistician John Williams (shadowstats.com) calls the government’s latest jobs and unemployment reports “nonsense numbers.�

There are a number of ongoing problems with the released numbers. For example, the concurrent-seasonal factor adjustments are unstable. The birth-death model adds non-existent jobs each month that are then taken out in the annual downward benchmark revisions. Williams calculates that the job overstatement through November averages 45,000 monthly. In other words, employment gains during 2012 have been overstated by about 500,000 jobs. Another problem is that each month’s jobs number is boosted by downside revision of the previous month’s jobs number. Williams reports that the 146,000 new jobs reported for November “was after a significant downside revision to October’s reporting. Net of prior-period revisions, November’s seasonally-adjusted monthly gain was 97,000.�

Even if we believe the government that 146,000 new jobs materialized during November, that is the amount necessary to stay even with population growth and therefore could not be responsible for reducing the unemployment rate from 7.9% to 7.7%. The reduction is due to how the unemployed are counted. Read more È

In this age of panic over the sovereign debt crisis and the fiscal cliff and the debt ceiling negotiations, we are bombarded with talk of government money printing and images of the printing press, but how many people know that only a tiny fraction of money in the economy is actually in the form of bills or coins? And if money isn’t, for the most part, literally printed into existence, then where does it come from?

In a system where money is created by bankers out of our own promise to pay them back, at interest, it is self-evidently always the case that more and more of the hard assets and real value of the economy will be transferred from the working, productive classes to the financial speculators at the top of the system who literally create the money and toy with the credit that is our economy’s lifeline. Given all of this, is it at all surprising that we have arrived at this situation where economic crises are followed by multi-trillion dollar bailouts of financial institutions while more and more people fall into debt, foreclosure and unemployment?

It is enough to note that at times it is the simplest questions that turn out to be the most difficult for many to answer, and if we are being told not to ask such questions as what money is or where it comes from, perhaps there is a reason that the powers that be don’t want these questions being contemplated.

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To discuss “free trade agreements� or the “free market,� we must first identify the theoretical versus the functional definitions of these terms – because theoretical definitions look at what those terms should mean, whereas functional definitions look at what the terms mean actually.

The theoretical definition of a “free market� is one in which every individual actor in the realm of exchange exists in a state of equality of opportunity; where all compete with one another to produce the best products at the cheapest prices for consumers, thus the most innovative and efficient producers succeed while others fail, unregulated – and unhelped – by the state. Within “free markets,� what we call “free trade agreements� are meant to reduce barriers such as tariffs, subsidies and regulations so that market “competitors� can freely move products and goods across borders and compete in an ever-expanding global “free market.�

The functional, or technical, definition of a “free marketâ€� is one in which the state regulates the market – the realm of economic exchange and activity – for the benefit of large transnational corporations and banks. Read more È

In 2008, the United States Trade Representative Susan Schwab announced the U.S. entry into the Trans-Pacific Partnership talks as “a pathway to broader Asia-Pacific regional economic integration.� Originating in 2005 as a “Strategic Economic Partnership� between a few select Pacific countries, the TPP has, as of October 2012, expanded to include 11 nations in total: the United States, Canada, Mexico, Peru, Chile, New Zealand, Australia, Brunei, Singapore, Vietnam and Malaysia, with the possibility of several more joining in the future.

What makes the TPP unique is not simply the fact that it may be the largest “free trade agreementâ€� ever negotiated, nor even the fact that only two of its roughly 26 articles actually deal with “trade,â€� but that it is also the most secretive trade negotiations in history, with no public oversight, input, or consultations. Read more È

I would like to introduce you, the reader, to some realities of our global banking system, resting on the rhetoric of free markets, but functioning, in actuality, as a global cartel, a “super-entity� in which the world’s major banks all own each other and own the controlling shares in the world’s largest multinational corporations, influence governments and policy with politicians in their back pockets, routinely engaging in fraud and bribery, and launder hundreds of billions of dollars in drug money, not to mention arms dealing and terrorist financing. These are the “too big to fail� and “too big to jail� banks, the center of our global economy, what we call a “free market,� implying that the global banks – and corporations – have “free reign� to do anything they please, engage in blatantly criminal activities, steal trillions in wealth which is hidden offshore, and never get more than a slap on the wrist. This is the real “free market,� a highly profitable global banking cartel, functioning as a worldwide financial Mafia.

Scientific Research Proves the Existence of a Global Financial “Super-Entity�

In October of 2011, New Scientist reported that a scientific study on the global financial system was undertaken by three complex systems theorists at the Swiss Federal Institute of Technology in Zurich, Switzerland. The conclusion of the study revealed what many theorists and observers have noted for years, decades, and indeed, even centuries: “An analysis of the relationships between 43,000 transnational corporations has identified a relatively small group of companies, mainly banks, with disproportionate power over the global economy.â€� As one of the researchers stated, “Reality is so complex, we must move away from dogma, whether it’s conspiracy theories or free-market… Our analysis is reality-based.â€� Using a database which listed 37 million companies and investors worldwide, the researchers studied all 43,060 trans-national corporations (TNCs), including the share ownerships linking them.[1] Read more È

In anti-austerity protests around the world, over the past several years, we often hear of ‘riots’ breaking out, when bank windows are smashed or rocks are thrown at cops. The violence exists, but the imagery of a ‘riot’ evokes the notion of drunk youths mindlessly causing havoc and setting things on fire and looting shops. This is not the nature of violence in the battle against austerity. Rather, invoking a term used by Stokely Carmichael when he was describing the urban ghetto riots in the United States in the 1960s, we need to be referring to these incidents as “urban rebllions.” As the urban rebellions are taking place all over the world, we are also seeing something new developing in Spain. In the northern mining towns in the regions of Asturia and Leon, the coalminers have gone on strike against the government’s plan to cut their subsidy by 63% this year alone. They began blockading streets and railways, and were met by the Guardia Civil (riot police) who brought tear gas and rubber bullets to the mining communities and rural areas. There, the miners have taken to defending themselves with sling-shots and homemade rocket launchers.

We are witnessing a new phase in the anti-austerity rebellion in Europe, and emerging from the very same region and communities in which we witnessed the beginning of the Spanish Civil War back in 1934, where the miners were subsequently crushed by Francisco Franco. History is in the making in Spain, the question is: will we pay any attention?

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