FRANCE: ‘ LE PEN BORROWS 9 MILLION EURO’S FROM KREMLIN LINKED BANK ‘

#AceFinanceNews – BRUSSELS – Nov.30 – The far-right French party, Front National (FN), borrowed €9 million from a Russian bank, posing questions over its relationship with the Kremlin.

The loan, by the First Czech Russian Bank (FCRB), was granted in late September, according to a report out on Saturday (22 November) in Mediapart, an online investigative journal.

It notes the FCRB is de facto owned by Roman Popov, a financier with close ties to the Russian political establishment.

Wallerand de Saint-Just, the FN’s treasurer, told Mediapart the loan was organised by Jean-Luc Schaffhauser, an FN euro-deputy.

“We’d been looking for a loan for a long time, notably to finance our election campaigns. Our bank, like many other French and European banks, categorically refused to lend a single centime to the FN or to FN candidates”, he said.

“So Mr Schaffhauser … who has had good relations in Russia for a long time, said:

‘Let me go and see this bank’.”

De Saint-Just denied the FCRB loan amounts to foreign interference in French politics, saying he has never met Popov and has only had contact with the bank’s “technical” staff.

Source:

#AFN2014 

#borrowed, #financier, #fn, #loan

GERMANY: ‘ TALKS STALL AT LUFTHANSA OVER RETIREMENT BENEFITS CALLS FOR STRIKE ‘

#AceFinanceNews – GERMANY – Nov.30 – The German pilots’ union Vereinigung Cockpit (VC) is calling for a strike on December 1 and 2 after talks over retirement benefits stalled.

“It became clear that management is not interested in solutions, but in introducing an autocratic leadership model like that of airlines in the Gulf states,” VC spokesman Jörg Handwerg said.

The pilots oppose plans to gradually raise the age at which they can take early retirement by five years.

Currently, they can retire at 55 and get up to 60 percent of their pay until the normal pension starts at their statutory retirement age of 65.

RT 

#ANS2014 

#benefits, #pensions, #retirement

KIEV: ‘ CLOSE DOWN ALL ATMS IN EASTERN CITIES BY ORDER OF CENTRAL BANK ‘

#AceFinanceNews – UKRAINE – Nov.28 – Kiev authorities have shut down cash machines in eastern Ukraine and businesses have stopped accepting credit cards in the region, according to local residents and bank workers.

“We received the order to close the establishment yesterday.

There are no more money transfers here,Valery, an employee at Ukraine’s Oschadbank in the Donetsk Region, told AFP.

In the city of Donetsk, locals told the agency that they fruitlessly queued to try and withdraw cash from ATMs, and that credit cards have stopped working in shops.

On Tuesday, the country’s central bank ordered all banks to “suspend” their work in eastern Ukraine.

#AFN2014 

#atms, #cash-machines, #credit-cards, #suspend

‘ FEDERAL RESERVE IS NOT ACCOUNTABLE UNDER FREEDOM OF INFORMATION ACT ‘

#AceFinanceNews – UNITED STATES – Nov.26 – There are many people out there that believe that the Federal Reserve is an “agency” of the federal government. 

FRED 1 - Screenshot from 2014-11-27 17:18:21

But that is not true at allThe Federal Reserve is an unelected, unaccountable central banking cartel, and it has argued in federal court that it is “not an agency” of the federal government and therefore not subject to the Freedom of Information Act.  The 12 regional Federal Reserve banks are organized “much like private corporations“, and they actually issue shares of stock to the “member banks” that own them.  100 percent of the shareholders of the Federal Reserve are private banks

The U.S. government owns zero shares.

Many people also assume that the federal government “issues money”, but that is not true at all either.  Under our current system, what the federal government actually does is borrow money that the Federal Reserve creates out of thin air.  The big banks, the ultra-wealthy and other countries purchase the debt that is created, and we end up as debt servants to them.  For a detailed explanation of how this works, please see my previous article entitled “Where Does Money Come From? The Giant Federal Reserve Scam That Most Americans Do Not Understand“.  When it is all said and done, the elite end up holding the debt instruments and we end up being collectively responsible for the endlessly growing mountain of debt.  Our politicians always promise to get the debt under control, but there is never enough money to both fund the government and pay the interest on the constantly expanding debt. 

So it always becomes necessary to borrow even more money

When it was created back in 1913, the Federal Reserve system was designed to create a perpetual government debt spiral from which it would never be possible to escape, and that is precisely what has happened.

Forty years ago, the U.S. national debt was less than half a trillion dollars.  Today, it has exploded up to nearly 18 trillion dollars…

Source: 

#AFN2014 

#agency, #unaccountable

‘ DOJ INVESTIGATING HSBC EMPLOYEE OVER POSSIBLE LEAK OF CONFIDENTIAL INFORMATION ‘

#AceFinanceNews – UNITED STATES – Nov.26 – The Justice Department is investigating whether an HSBC employee may have leaked confidential information to a hedge fund, Dow Jones reported.

According to the report, the alleged leak occurred while the bank was advising Prudential “on a huge acquisition and was working on a related multi-billion-dollar currency transaction.”

HSBC self-reported the alleged incident to U.S. and British authorities, Dow Jones said.

#AFN2014 

#confidential, #doj, #leaked

DOJ NEWS: ‘ HAPPY’S PIZZA FOUNDER CONVICTED OF MULTI-MILLION DOLLAR TAX FRAUD ‘

#AceFinanceNews – Nov.20 – Happy’s Pizza Founder Convicted of Multi-Million Dollar Tax Fraud. 

Tweet:   

#AFN2014

#fraud-2, #tax

‘ IN VAIN HOPE TO STIMULATE THE ECONOMY G20 NATIONS PLAN TO BOOST GDP BY $2 TRILLION ‘

#AceFinanceNews – AUSTRALIA (Brisbane) – Nov.16 – In a vain hope of jump-starting a lethargic economy, and bringing it back from the dead.

It was agreed by G-20 nations on Sunday to finalize a plan to boost global GDP by more than $2 trillion over five years AP reported.   

The fanfare, however, was overshadowed by tensions between Russian President Vladimir Putin and Western leaders.

The communique from the Brisbane summit of Group of 20 wealthy and emerging nations revealed that the plan for jumps-starting growth includes investing in infrastructure, increasing trade and the creation of a global infrastructure hub that would help match potential investors with projects.

#AFN2014 

#economy, #nations, #wealthy

Third World Plunge: Nearly 40 percent of Americans now make less than $20,000 a year

#AceFinanceNews – This is higher than l thought!

BRITAIN: ‘ FCA REGULATOR IMPOSES PRICE CAP ON PAY-DAY LOANS ‘

#AceFinanceNews – BRITAIN – Nov.09 – The City regulator is imposing a price cap on payday loans to help prevent borrowers being ripped off.

The FCA moves to limit costs in the short-term credit market, saying its rules will make it fair for both lenders and borrowers.

The FCA moves to limit costs in the short-term credit market, saying its rules will make it fair for both lenders and borrowers.

The Financial Conduct Authority’s (FCA) initial cost cap will come into force on 2 January, set at 0.8% per day.

The watchdog said that would lower costs for most borrowers, explaining that for all high-cost short-term credit loans, interest and fees must not exceed 0.8% per day of the amount borrowed.

Fixed default fees will be capped at £15 to help protect borrowers struggling to repay.

A total cost cap of 100% was aimed, the FCA said, at shielding people from escalating debts and it meant that borrowers must never have to pay back more in fees and interest than the amount borrowed.

The regulator said the changes would ensure that someone taking out a loan for 30 days and repaying on time will not pay more than £24 in fees and charges per £100 borrowed.

It announced the changes in July but put the conclusions out to consultation to try and ensure they were fair.

Source: 

#AFN2014 

#borrowers, #credit, #debt, #lenders, #loans, #payday, #regulator