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