Simon Dixon

Nothing in this content should be treated as tax, legal, investment or financial advice. Full details here: https://www.retirementplanb.com/disclaimers http://www.amazon.co.uk/Bank-Future-Protect-Governments-ebook/dp/B007GDUFDQ/ref=sr_1_1?s=digital-text&ie=UTF8&qid=1371303375&sr=1-1&keywords=bank+to+the+future Simon Dixon (@SimonDixonTwitt) comments on quantitative easing. Americans' assessments of the economy's direction slipped slightly last week to a net score of -6 from -4 the prior week. Last week's reading reflects 50% of Americans saying the economy is getting worse. Americans have been more likely to say the economy is getting worse than getting better in each weekly average since Gallup began Daily tracking in 2008. The US Labor Department reported Thursday that new claims for unemployment benefits jumped by the highest amount in six months. The same day, the retail giant Walmart said its sales tumbled unexpectedly in the first quarter of the year. http://www.amazon.co.uk/Bank-Future-Protect-Governments-ebook/dp/B007GDUFDQ/ref=sr_1_1?s=digital-text&ie=UTF8&qid=1371303375&sr=1-1&keywords=bank+to+the+future Simon Dixon (@SimonDixonTwitt) comments on quantitative easing.

Nothing in this content should be treated as tax, legal, investment or financial advice. Full details here: https://www.retirementplanb.com/disclaimers It will take "something very, very major" to get the UK out of its economic "depression", the Archbishop of Canterbury has said. A "severe" economic crisis and "a breakdown in confidence" made for "a generational problem", the Most Rev Justin Welby said. "Recapitalising at least one of our major banks" and breaking it up into regional banks could help, he said. He was speaking at a Bible Society-organised event at Westminster. The former oil executive is on Parliament's banking standards commission and his comments come days before the release of gross domestic product figures that are expected to show the economy has stalled. Archbishop Welby said that, in the past, "the great failures in banking have led to very, very long periods of recession at best". "I would argue that what we are in at the moment is not a recession but essentially some kind of depression," he added. "It therefore takes something very, very major to get us out of it, in the same way as it took something very major to get us into it." 'No horns or tails' The Archbishop said no-one had all the answers to dealing with the crisis, but a key move to rebuild confidence would be making sure people could no longer "drift" into senior banking positions. However, he said that during evidence sessions heard by the Parliamentary commission, he had found bankers were "not nearly as bad as one hoped that they would be". "They do not come in with horns and a tail burning £50 notes to light large cigars," he said. They had made two "slightly unsophisticated" errors, he said, which were to "borrow short and lend long" and to lend "very, very large amounts of money to people who could not pay them back". "Those two errors alone are quite enough to bankrupt any bank," he said. He added that, when banks became distant from the communities they served, problems were created, saying "at least part of the banking system should be local". The BBC's Business Editor, Robert Peston, said the archbishop's suggestion for breaking up a big bank to create smaller, local banks would be pretty expensive for taxpayers, both because of the capital the UK would need to inject into such a bank, and because breaking it up would involve massive IT challenges. However, there might actually be benefits for taxpayers and others shareholders in doing so, our correspondent added, because some banks had become too big and complicated to manage safely. Meanwhile, Chancellor George Osborne told BBC Radio 4's Today programme the archbishop was right to underline that Britain was recovering from a "very deep banking crisis". But asked if he agreed the country was going through a sort of economic depression, Mr Osborne replied: "I don't use that word." He added: "I put the Archbishop of Canterbury onto the Banking Commission... and I agree with his analysis that we have a slow and difficult recovery because of the problems in the banking system - and those are the problems that need addressing."

Nothing in this content should be treated as tax, legal, investment or financial advice. Full details here: https://www.retirementplanb.com/disclaimers An analyst says European countries will do anything to protect an unsustainable banking system solving debt with more debt and the consequences will be huge. In the background of this the financial and banking crisis in Cyprus is taking a toll on larger depositors with major depositors in the Bank of Cyprus facing potential loss of 60 percent of their assets, which would be converted into market rate bank shares. Regarded as legal bank theft by some, growing public awareness that money deposited in banks actually becomes legally owned by the bank to do with what they want has the world watching Cyprus as an example of what could be faced by Europeans of other countries in the future at any time especially in PIGS countries suffering most from the social and financial consequences of excessive debt and austerity. Press TV has interviewed Simon Dixon, founder of banktothefuture.com from London about this issue. The following is an approximate transcription of the interview. Press TV: How do you assess the situation in Cyprus now? Dixon: What we are seeing is Cyprus I guess being an example for the rest of Europe and the rest of the world for that matter of what happens when you invest upon banks very powerful rights. There are three things the banks have at the moment: one, when you deposit money with a bank essentially they become the legal owner of your money - and we are seeing that now - (2) they spend with it how they wish, mainly on speculation; and the third thing is the banks actually create money and we've seen the consequences of what happens when you allow banks to create more money than they have on deposit. And it's very real and very drastic for people that have their deposits with banks. Press TV: Is there any hope for recovery for Cyprus? Dixon: Well, what they're doing right now is they're trying to kick the can down the road a little bit further by paying off debt with more debt. We call it bailouts, but really it's other countries looking for a new market for their debt. So what they need to do is radical banking reform to change the banking system - the way the money is created and the rules of banking - and be an example for the world actually of what you can do to build a sustainable system. So, while it's a very harsh time, if they continue to solve the problem with the cause of the problem, there is no hope. But if they use it as an opportunity to make some drastic change in the banking system then they can be an example for the world to follow. Press TV: Day after day European countries are falling victim to the European economic crisis. How much does this call into question the EU's integrity and of course the trust of the people of Europe in the euro zone currency? Dixon: When you have lots of European countries, which are deeply dependent upon each other and using each other's assets in order to prop up a broken banking system it inevitable puts pressure on the relationship of the members of Europe. And what we're seeing right now is unsustainable loans between countries in order to prop up systems because they're inherently unstable and the pressure that causes has really questioned the integrity of Europe. Dixon:What do you think will happen, will there be a European disintegration? Dixon: I hope there will be a European disintegration in terms of the currency. You know... there's lots of trouble, which has been caused from the European experiment. It looks like they're going to anything to protect that system and it looks like countries that Europe is going to become a big Germany essentially and organizations like the IMF are going to find new markets for their global banking system and it's all going to be wound up into one central bank by the end of it. Dixon: What effects do you think an EU disintegration would have on the US economy? Dixon: It would have very bad effects around the world, but what we're in is like coming off of drugs, you know, we've been addicted to heroin through debt and that's going to have consequences all round and for relationships. But we need to ride out those and we need a sustainable system otherwise the consequences on the state and the rest of the world are going to be huge when we're in a system where we keep trying to solve debt with more debt.

Nothing in this content should be treated as tax, legal, investment or financial advice. Full details here: https://www.retirementplanb.com/disclaimers @SimonDixonTwitt shares an update on Cyprus bilout and Europe. finance a rescue of the country, EU officials said early on Monday. The proposal, which will now be put to euro zone finance ministers for approval, will involve setting up a "good bank" and a "bad bank". It will mean that Popular Bank of Cyprus, the island's second largest bank which is also known as Laiki, will effectively be shut down. Deposits below 100,000 euros in Laiki will be transferred to Bank of Cyprus, the country's largest bank. Deposits above 100,000 euros, which under EU law are not insured, will be frozen and will be used to resolve debts. It remains unclear how large the writedown on those funds will be. No charges will be incurred against any Cypriot bank account with less than 100,000 euros in them, the officials said. Finance ministers were expected to examine the agreement in detail, but one official said he did not think the outlines of the agreement would change in any significant way. "It should be fairly easy for finance ministers to agree to this," he said. "We have been in close contact with all relevant euro zone countries during this negotiation process and there is broad agreement." The plan is likely to mean very heavy losses for uninsured deposits in Laiki, which has suffered since writing down the value of its holdings of Greek government bonds last year. Around 35 billion euros is held in Cypriot accounts with more than 100,000 euros in them, but it is not clear how much of that total is held in Laiki bank. If sufficient funds can be found in Laiki to pay off debt and restructure the Cypriot banking sector, uninsured depositors in Bank of Cyprus may not incur any losses, although that remains to be seen. One of the officials said shareholders and bondholders in Bank of Cyprus would be part of the "bail-in", with those investors receiving equity in the bank in exchange. One potential complication that will have to be resolved concerns the provision of emergency liquidity assistance (ELA) to both banks by the European Central Bank. Laiki bank has received 9 billion euros of ELA, all of which will be transferred to Bank of Cyprus under the rescue plan. Bank of Cyprus has already received 1 billion euros worth of ELA assistance from the ECB. By taking on Laiki's obligations, it will now have outstanding assistance of 10 billion, which sources indicate is close to the ECB's acceptable threshold.

Nothing in this content should be treated as tax, legal, investment or financial advice. Full details here: https://www.retirementplanb.com/disclaimers In this edition of the show Faiza Ahmed reviews the film; Arbitrage, directed by Nicholas Jarecki with author of Bank To The Future - Simon Dixon. Arbitrage is Nicholas Jarecki's debut feature film. Robert Miller is the head of Miller Capital, a successful hedge fund that has weathered the economic storm and somehow thrived in this tough environment. To the public, he's a successful businessman, a loving husband, a caring father, and a giving philanthropist. To those who know him personally, Miller is a little less miraculous and a little more relentless. Arbitrage the movie Sixty-year-old magnate Robert Miller manages a hedge fund with his daughter Brooke (Brit Marling) and is about to sell it for a handsome profit. However, unbeknownst to his daughter and most of his other employees, he has cooked his company's books in order to cover an investment loss and avoid being arrested for fraud. One night, while driving with his mistress Julie Cote (Laetitia Casta), he begins to doze off and crashes; Julie is killed. An injured Miller leaves the scene and decides to cover up his involvement to prevent the public, his wife Ellen (Susan Sarandon), and the prospective buyer James Mayfield (Graydon Carter) from discovering the truth. Miller calls Jimmy Grant (Nate Parker), a twenty-three-year-old man from Harlem with a criminal record whom he helped get off the street in the past. After being driven home by Grant, Miller drags his injured body into bed at 4:30 am, arousing suspicion in his wife. The next day, he is questioned by police detective Bryer (Tim Roth). Bryer is keen on arresting Miller for manslaughter and begins to put the pieces together. Brooke discovers the financial irregularities, realizes that she could be implicated and confronts her father. Jimmy is arrested and placed before a grand jury but still refuses to admit to helping Miller. Miller once again contemplates turning himself in. Even though Jimmy is about to go to prison, Miller tells Jimmy that investors are depending on him and that waiting for the sale to close before coming forward would serve the greater good. Eventually the sale is closed but Miller finds a way to avoid being charged. He proves that Detective Bryer fabricated evidence. The case against Jimmy is dismissed and the detective is ordered not to go near him. Miller's wife, thinking the police investigation is still on-going, tries to blackmail him with a separation agreement getting rid of his wealth. When Robert Miller refuses to sign, his wife says that she will tell the police that he got into bed at 4:30 am, bruised and bloody. In the final scene, Miller addresses a banquet honoring him for his successful business either because of his wife or in spite of her. Cast Richard Gere as Robert Miller Susan Sarandon as Ellen Miller Tim Roth as Det. Bryer Brit Marling as Brooke Miller Laetitia Casta as Julie Cote Nate Parker as Jimmy Grant Stuart Margolin as Syd Felder Chris Eigeman as Gavin Briar Graydon Carter as James Mayfield Bruce Altman as Chris Vogler [edit]Reception Critical response The film was praised by critics. Rotten Tomatoes gives it a "certified fresh" score of 85% based on reviews from 125 critics. At Metacritic it received a weighted average rating of 73% based on reviews from 33 critics. Many critics pointed out Gere's "conflicted performance" as a "career-best", and cited the screenplay, ensemble acting, and direction as high quality. This section requires expansion. (January 2013) Box office As of 5 November 2012, the film had grossed over $31,000,000 in first-cycle sales to date (with $21,000,000 in ticket sales at the global box office, and a VOD North American gross over $10 million). The film also outperformed financially in several areas: it set a record as the highest grossing "day-and-date" release of all time, meaning it outperformed all other films released simultaneously in theaters and "on-demand". It also opened to a per screen average in the US in excess of $10,000, making it one of the highest per-screen average films of the year. It was the top film in Israel two weeks running and #3 in Spain two weeks running, nearing a Spanish theatrical gross of nearly $4,500,000 USD. It broke independent box office records in many other countries including Australia, the UAE, and Switzerland.

Nothing in this content should be treated as tax, legal, investment or financial advice. Full details here: https://www.retirementplanb.com/disclaimers IMF and World Bank policies are opening national markets to US-dominated "multinational corporations" effectively destroying the homegrown economy of poor countries all over the world from Latin America to Africa to Asia. The program was essentially about enriching a few ruling families by kickbacks and bribes accompanying loans that opened the borrowing countries to American companies. Since the borrowing countries could never pay the loans back, the economic hitmen returned asking for cheap oil and minerals, favorable business deal, etc.

Nothing in this content should be treated as tax, legal, investment or financial advice. Full details here: https://www.retirementplanb.com/disclaimers Comment by tweeting @SimonDixonTwitt - EU budget talks will pave the way for the breakup of the bloc: Simon Dixon A banker says European Union members will not reach an agreement on the trillion-dollar budget talks, paving the way for the breakup of the bloc. This comes as German Chancellor Angela Merkel urges EU members to work together to reach a deal as the bloc's 27 states remain divided on the one-trillion-euro 2014-2020 budget. Press TV has conducted an interview with Simon Dixon, CEO of Bank to the Future.com, from London, to further discuss the issue. The following is a rough transcription of the interview. Press TV: Tell us about, first of all, the significance of what the German Chancellor has said about them being not sure that an agreement is going to be made and how that might affect it all. Dixon: I think what we're seeing from the German side is some real honesty. The likelihood of getting 27 countries to agree when we're moving into a triple dip recession all around, when top of the agenda for most of the countries is austerity measures, budget cuts and trying to pay off the national debt, the likely of getting people to agree to a trillion stimulus for the European Union is highly unlikely. It's a refreshing change to actually hear to expect some hardness in getting everyone to agree. Press TV: Tell us the affects, Mr. Dixon, if it does not happen. If an agreement is not reached, tell us the types of affects that we might see. Dixon: It just adds to the rocky round that we're seeing in the European Union right now. They better get prepared for that because the agreement won't be reached, I'm almost certain of it. The consequences are is there's more pressure on the European Union, more pressure for the interrelations between its members. The pressure's going to get a lot worse as we move into a worse economy in 2013 and more budgets are required to do more banking bailouts as well. Press TV: Let's look at that overall pressure that possibly is more on the EU and possible effects as far as the inter-union relationships. How do you see it affecting various countries? Dixon: David Cameron and the British have been very outspoken on it. There's lots of pressure between the French, the Germans and particularly the Italians. Then we have some of the other members and the relationships aren't very strong at the moment. All this is going to do is put more pressure on it. I'm forecasting this year that we're going to see some of the first exists from the European Union which will probably have the domino effect with others. Comment by tweeting @SimonDixonTwitt or visiting http://www.simondixon.org

Nothing in this content should be treated as tax, legal, investment or financial advice. Full details here: https://www.retirementplanb.com/disclaimers A look at the International Banking Cartel led by the Bank for International Settlement (in Basel, Switzerland) known as the bank of central banks (58 central banks) and The US Federal reserve System. Also a look at banking tycoons: from the Rothschild family in Europe to JP Morgan and others in the US. How banks not only control governments but also appoint politicians through huge campaign donations. Governments at the service of the major banks, the best example: the Obama administration and the history's biggest bail out of the same institutions that caused the Great Recession.

Nothing in this content should be treated as tax, legal, investment or financial advice. Full details here: https://www.retirementplanb.com/disclaimers An analyst says the European Union's economic and monetary system is entirely based on debt and it does not create jobs or promote growth, Press TV reports. "Almost all money in the current environment is created as debt and not only is it created as debt but all debt seems to make its way into speculation, into banking bailouts, into increasing property prices, into consumer debt but it's not making its way into businesses which can take that debt and actually create jobs and create actual real growth from it and what the economy needs is not debt, it is growth, it is actual jobs," Simon Dixon said in an interview with Press TV on Thursday. He further argued that, the economic crisis could take ten years to run its course as there are several root causes of the issues which have not been addressed. "What we need to do is address the major issues which the government's just simply looking at right now and they are trying to solve it with austerity measures; they are trying to increase debt and those are two solutions which are not going to help right now," Dixon added. The analyst noted that more jobs and businesses need to be created in order to make it possible to achieve economic growth. "We need to crave more jobs for people or more businesses to employ those people and until we start addressing that we need to get money...," he explained. "We need real growth. We need real job and as the World Bank correctly points out it does not look like we are going to be able to achieve any of those targets. In fact we will not be able to achieve any of those targets with the existing policies that we are implementing right now," Dixon concluded. Tweet @SimonDixonTwitt

Nothing in this content should be treated as tax, legal, investment or financial advice. Full details here: https://www.retirementplanb.com/disclaimers An analyst says the European Union's economic and monetary system is entirely based on debt and it does not create jobs or promote growth, Press TV reports. "Almost all money in the current environment is created as debt and not only is it created as debt but all debt seems to make its way into speculation, into banking bailouts, into increasing property prices, into consumer debt but it's not making its way into businesses which can take that debt and actually create jobs and create actual real growth from it and what the economy needs is not debt, it is growth, it is actual jobs," Simon Dixon said in an interview with Press TV on Thursday. He further argued that, the economic crisis could take ten years to run its course as there are several root causes of the issues which have not been addressed. "What we need to do is address the major issues which the government's just simply looking at right now and they are trying to solve it with austerity measures; they are trying to increase debt and those are two solutions which are not going to help right now," Dixon added. The analyst noted that more jobs and businesses need to be created in order to make it possible to achieve economic growth. "We need to crave more jobs for people or more businesses to employ those people and until we start addressing that we need to get money...," he explained. "We need real growth. We need real job and as the World Bank correctly points out it does not look like we are going to be able to achieve any of those targets. In fact we will not be able to achieve any of those targets with the existing policies that we are implementing right now," Dixon concluded. Tweet @SimonDixonTwitt

Nothing in this content should be treated as tax, legal, investment or financial advice. Full details here: https://www.retirementplanb.com/disclaimers Tweet @SimonDixonTwitt or register at www.SimonDixon.org for more updates An analyst says the European Union's economic and monetary system is entirely based on debt and it does not create jobs or promote growth, Press TV reports. "Almost all money in the current environment is created as debt and not only is it created as debt but all debt seems to make its way into speculation, into banking bailouts, into increasing property prices, into consumer debt but it's not making its way into businesses which can take that debt and actually create jobs and create actual real growth from it and what the economy needs is not debt, it is growth, it is actual jobs," Simon Dixon said in an interview with Press TV on Thursday. He further argued that, the economic crisis could take ten years to run its course as there are several root causes of the issues which have not been addressed. "What we need to do is address the major issues which the government's just simply looking at right now and they are trying to solve it with austerity measures; they are trying to increase debt and those are two solutions which are not going to help right now," Dixon added. The analyst noted that more jobs and businesses need to be created in order to make it possible to achieve economic growth. "We need to crave more jobs for people or more businesses to employ those people and until we start addressing that we need to get money...," he explained. "We need real growth. We need real job and as the World Bank correctly points out it does not look like we are going to be able to achieve any of those targets. In fact we will not be able to achieve any of those targets with the existing policies that we are implementing right now," Dixon concluded. Tweet @SimonDixonTwitt

Nothing in this content should be treated as tax, legal, investment or financial advice. Full details here: https://www.retirementplanb.com/disclaimers UK Credit Rating Downgrade long overdue? Simon Dixon (@SimonDixonTwitt) and Max Keiser explain why the UK is made out to look a lot better than it actually is and discuss the real banking reform's that need to happen to return to normal. For more videos visit http://www.simondixon.org

Nothing in this content should be treated as tax, legal, investment or financial advice. Full details here: https://www.retirementplanb.com/disclaimers Britain's Chancellor George Osborne has insisted that the government was moving on the right economic path, despite reports of the worst double-dip recession in over 50 years. The Chancellor's defense of his record came irrespective of disappointing official figures released on Wednesday that showed Britain is enduring the longest double-dip recession for more than 50 years, the Guardian reported. George Osborne came under increasing pressure to lay out a plan B for the economy after shock figures from the Office of National Statistics (ONS) revealed the economy shrank by a worse-than-expected 0.7 percent between April and June. Rachel Reeves, the shadow chief secretary to the Treasury, tweeted that the deepening double-dip recession was a "disastrous verdict on George Osborne's failed plan". But Osborne blamed "deep-rooted economic problems" for the figures and defended his policies to get the economy back on track. Press TV has conducted an interview with Simon Dixon, author of "Bank to the Future", to further discuss the issue. The following is an approximate transcript of the interview. Press TV: The weak GDP data prompted finance minister George Osborne who said the economy had "deep-rooted" problems. What do you think are these "deep-rooted" problems that Mr. Osborne is talking about are? Dixon:...But what we are seeing at the moment is an ever increasing reliance upon debt and a nation that cannot afford to repay the debt and are living month to month in order to repay the mortgages and the debts that they have taken out to the banks. But what we are not addressing at the moment and what Mr. Osborne I am sure is not looking at is the fact that he wants to stimulate business as usual, he wants to increase debt in order to get the economy going again but is where that money actually gets directed if you redirect that back into pushing up property prices you are going to make it harder for people. If you redirect that for stimulating consumer debt just as banks do at the moment, then you are going to end up in a harder situation. The money has to be directed into employment creating growth into small businesses which make up almost all of the employment about 60 percent of the employment in the UK. Press TV: Redirect that into as you mentioned employment creating growth does not help when you have the Diamond Jubilee that costs billions of pounds, does it? Dixon: Well it is not the government that needs to produce the money, it is reforming the way the banking is actually structured because almost all money comes in the form of loans and our current economy is all debt. And so if that debt is going to be directed anywhere, then we need to reform the banks in a way where the money actually gets to productive use like banks were originally for rather than speculation, shadow banking and pushing up property and the other stuff which only leads to an over indebted nation. Press TV: Then again Diamond Jubilee and wet weather have been blamed for this deepening recession. What is your reaction when you heard that piece of news? Dixon: Could you say that again? Press TV: The Diamond Jubilee and wet weather, two reasons why they have been sided for contributing to this deepening recession. Do you agree? Dixon: Well obviously there is market forces but we are dealing with a much greater trend that goes beyond any kind of Olympics that we are seeing in the UK right now or any kind of weather issues. Of course it affects certain businesses but it does not affect other businesses so that is a good thing for other businesses and is definitely a scapegoat not looking at the greater issues which is all down to our banking system right now. Press TV: But the quick solution seems to be austerity perhaps you can tell us why austerity does not work? Dixon: Well austerity is not going to work because we have to remember that we have got an economy right now which is reliant upon ever increasing levels of consumer debt, ever increasing levels of corporate debt and also when those do not work, when that max out on the credit cards is ever increasing levels of government debt. So we have to stop pretending that we are actually trying to pay down our debt because the effect of ever paying down the debt is a decrease in the economy, is a decrease in the money supplies.

Nothing in this content should be treated as tax, legal, investment or financial advice. Full details here: https://www.retirementplanb.com/disclaimers http://www.simondixon.org The full news broadcast with a no BS look at the root cause of the problems we face today. Simon Dixon and Max Keiser cover what nobody else will talk about, how is money created and should bankers be hung on Press TV. Share your thoughts with @SimonDixonTwitt on Twitter and spread the message. http://www.simondixon.org

Nothing in this content should be treated as tax, legal, investment or financial advice. Full details here: https://www.retirementplanb.com/disclaimers http://www.simondixon.org a no BS look at the root cause of the problems we face today. Simon Dixon and Max Keiser cover what nobody else will talk about, how is money created and should bankers be hung on Press TV. Share your thoughts with @SimonDixonTwitt on Twitter and spread the message. http://www.simondixon.org

Nothing in this content should be treated as tax, legal, investment or financial advice. Full details here: https://www.retirementplanb.com/disclaimers Max Keiser and Simon Dixon (@SimonDixonTwitt) provide commentary on Press TV about Shadow banking system greater than visible banking system. An interview with Max Keiser, financial journalist from Paris Bloomberg just ran a report that the shadow banking system is greater than the visible banking system...you had many more trillions of dollars worth of derivatives building up in the shadow banking system...Banks make money trading these instruments back and forth with each other in the shadow banking system. It's unregulated." Before the 2008 global financial crash, there were many trillions of dollars worth of derivative projects in the shadow banking system, says an analyst. Since the 2008 collapse of Lehman Brothers, we've had a global unwinding of bad debt, financial journalist Max Keiser said in an interview with Press TV. He added that JP Morgan's recent financial loss has suddenly made more visible the shadow banking system. The following is a rough transcription of the interview. Press TV: A Pan-European banking authority be put in place and give Brussels the final say over national budgets in the eurozone. That's what a host of these officials such as EU President Herman Van Rompuy, the European Commission President Jose Manuel Barroso, the Central Bank chief, that's what they've asked for. What do you think about this? Keiser: To follow up on what the previous speaker said about collateral values and banks lending to each other based on presumed collateral value, the collateral value of these banks is constantly being downgraded. All of the bonds of these sovereign countries and these banks are being downgraded by Moody's and S&P which means that the banks' balance sheets are being impaired more. Since the 2008 collapse of Lehman Brothers, we've had this global unwinding of all this bad debt. To solve it, it would be like trying to catch a piano that's been thrown off a 20-story building. There's no way you can do that. There's no solution to this other than to let the system play out, let these debts find a market because by simply trying to keep them afloat with more quantitative easing, more accounting tricks, more lending facilities, all that's happening is that a greater percentage of the population of these countries are being exposed to austerity measures for things that they themselves have nothing to do with. Press TV: What do they mean though when they say a Pan-European banking authority? Pretty much they want control as to what banks are going to do and to have oversight on them, is that what that means? Keiser: What it means is banks are sitting on bad debts and instead of revealing these bad debts they want to re-securitize them and resell them into a Pan-European banking facility and pretend as if these bad debts are really good by re-denominating them in euros or outside of euros or possibly from the IMF -- is talking about re-denominating these debts in special drawing rights which is the currency of the IMF. They're looking of ways to kick the can down the road by expanding the debt on top of this shrinking collateral value, on top of a shrinking economy, on top of unemployment numbers that are getting worse and an economy that's getting worse. They're exaggerating the problem. They're pursuing the wrong policies and, yes, social tensions are rising. Press TV: There have been other tools that have been used and perhaps you can fill us in on them ever since maybe the financial crisis hitting 2007, 2008. Why have those tools failed? It's been, what, four or five years since then. Keiser: I think that they draw the wrong conclusions and lessons from the Depression. The thing that got the US and the world out of the Depression back in the 30s was the introduction of things like the Glass-Steagall Act that was alluded to earlier, real banking reform and a Pecora Commission that put bankers in jail. Here they are ignoring the predatory bankers, the kleptocrats that are destroying these countries and these economies, and instead they're trying to puff up or put a blood transfusion to a corpse. The banks are effectively dead. Their balance sheets are worthless. The only thing that keeps these zombies alive is a pretend-and-extend game between governments and bankers. I would say that additionally what's remarkable is that if you look at some of these bankers on Wall Street, if they're looking to take over a country like Greece, they have an infinite amount of credit at their disposal at virtually zero percent interest rates. For more subscribe, join http://www.simondixon.org and tweet @SimonDixonTwitt

http://www.simondixon.org Simon Dixon comments on Press TV about the 100bn Euro Spanish bank bailout (@SimonDixonTwitt) The EU's recently approved bailout to Spain has not been injected directly into job creation or the real economy, but to its beleaguered banking sector. Press TV has interviewed Simon Dixon, CEO Bank to the Future.com in London about the unraveling of Western European economies and of the UK economy. What follows is an approximate transcript of the interview. Press TV: In the UK there are two alarm bells ringing here, manufacturing in a slump - as a result we have consecutive contractions in terms of the quarters and that's been blamed on the Euro Zone countries; and then you have the Bank of England setting aside 125 billion dollars to help the banks to accelerate lending. Two major alarm bells, but at the same time we don't see any indications of growth coming from the UK; and of course more money to the banks. Dixon: Sure. And what we're not seeing is what this money that's going in to the banking system is actually going to be used for, which if we're going back to business as usual it's going to be used to stimulate a property market, a speculative market rather than getting into any kind of productive use that's going to be job creating as well. So, not good signs for the UK, but then again we've been in a depression for a while and the figures are painted to be prettier than they actually are. Press TV: Let's look at the correlation here... The troubles of Greece and other Euro Zone countries and the recession in the US since we just spoke to our guest there in the US and he mentioned the US - Aren't they all related to their trade deficits? The countries with unemployment rates above seven percent have current account balance deficits while countries with unemployment rates below seven percent have current account surpluses. And of course the deficits of countries like Spain, Greece, Portugal, France, Italy, Britain and the US. Dixon: What we're seeing right now are countries deeply dependent upon ever increasing levels of debt and we're reaching the end of that cycle and governments, which their banking system, using the debt of other countries as collateral for their banking system, completely intertwined and completely collapsing together. But it all relies on the banking system and the countries are trying to solve that with more debt. When the governments are focusing on where they're going to find the new market for their debt they're focusing on how to structure the best deal. What we've seen with the 100 billion pound bailout for the Spanish banking system is you've seen... going to countries like Italy who have their own challenges and then lending money at 3 percent and they're having to borrow that money. And the margins of what they're receiving between what they're borrowing and what they're lending are completely illogical because they're having to borrow from the market at 7 percent and lend at 3 percent and it's just not working. So, now the Italian government is going to have their own issues just as a result of having to bail out the banking system in Spain. Press TV: Our guest Ravi Batra talks about reforms coming out at the end of this year when the US elections take place. The only type of reform I can see coming from the US - I don't know if you agree with this - that's preventing that disaster there is that all of these debts are expressed in dollars. The US can no longer service its debt, usually what they do is that they print US dollars - that's the only thing I see the US is doing. Is that what's happening? Dixon: It's a bit of an illusion they're printing money because what we have to remember is that only about three percent of money in the US comes as a result of the government actually creating money, 97 percent comes from loans from the banking sector through the credit market. So, what we're seeing is mass... what they're looking for is increases in bank lending as well so... if banks are going to be creating all that money then it's really important where that's actually directed. But no, we're not seeing any real reforms. The biggest opportunity for reforms that I see are not from the US, but from the countries that are actually going to reject the Euro; that are going to rebuild and create their own currencies; and figure out how to reform their banking system away from one that pushes money into property and creates debt for consumer debt and credit cards and one that actually lends for businesses and job creating activities. Press TV: And I assume that the first country would be Greece, correct? Dixon: I think Greece have the perfect opportunity - whether they'll take it or not is another question, but they have that perfect opportunity really to reject the Euro, rebuild their own currencies and reform their banking. @SimonDixonTwitt

http://www.simondixon.org Simon Dixon comments on Press TV about the 100bn Euro Spanish bank bailout (@SimonDixonTwitt) The EU's recently approved bailout to Spain has not been injected directly into job creation or the real economy, but to its beleaguered banking sector. Press TV has interviewed Simon Dixon, CEO Bank to the Future.com in London about the unraveling of Western European economies and of the UK economy. What follows is an approximate transcript of the interview. Press TV: In the UK there are two alarm bells ringing here, manufacturing in a slump - as a result we have consecutive contractions in terms of the quarters and that's been blamed on the Euro Zone countries; and then you have the Bank of England setting aside 125 billion dollars to help the banks to accelerate lending. Two major alarm bells, but at the same time we don't see any indications of growth coming from the UK; and of course more money to the banks. Dixon: Sure. And what we're not seeing is what this money that's going in to the banking system is actually going to be used for, which if we're going back to business as usual it's going to be used to stimulate a property market, a speculative market rather than getting into any kind of productive use that's going to be job creating as well. So, not good signs for the UK, but then again we've been in a depression for a while and the figures are painted to be prettier than they actually are. Press TV: Let's look at the correlation here... The troubles of Greece and other Euro Zone countries and the recession in the US since we just spoke to our guest there in the US and he mentioned the US - Aren't they all related to their trade deficits? The countries with unemployment rates above seven percent have current account balance deficits while countries with unemployment rates below seven percent have current account surpluses. And of course the deficits of countries like Spain, Greece, Portugal, France, Italy, Britain and the US. Dixon: What we're seeing right now are countries deeply dependent upon ever increasing levels of debt and we're reaching the end of that cycle and governments, which their banking system, using the debt of other countries as collateral for their banking system, completely intertwined and completely collapsing together. But it all relies on the banking system and the countries are trying to solve that with more debt. When the governments are focusing on where they're going to find the new market for their debt they're focusing on how to structure the best deal. What we've seen with the 100 billion pound bailout for the Spanish banking system is you've seen... going to countries like Italy who have their own challenges and then lending money at 3 percent and they're having to borrow that money. And the margins of what they're receiving between what they're borrowing and what they're lending are completely illogical because they're having to borrow from the market at 7 percent and lend at 3 percent and it's just not working. So, now the Italian government is going to have their own issues just as a result of having to bail out the banking system in Spain. Press TV: Our guest Ravi Batra talks about reforms coming out at the end of this year when the US elections take place. The only type of reform I can see coming from the US - I don't know if you agree with this - that's preventing that disaster there is that all of these debts are expressed in dollars. The US can no longer service its debt, usually what they do is that they print US dollars - that's the only thing I see the US is doing. Is that what's happening? Dixon: It's a bit of an illusion they're printing money because what we have to remember is that only about three percent of money in the US comes as a result of the government actually creating money, 97 percent comes from loans from the banking sector through the credit market. So, what we're seeing is mass... what they're looking for is increases in bank lending as well so... if banks are going to be creating all that money then it's really important where that's actually directed. But no, we're not seeing any real reforms. The biggest opportunity for reforms that I see are not from the US, but from the countries that are actually going to reject the Euro; that are going to rebuild and create their own currencies; and figure out how to reform their banking system away from one that pushes money into property and creates debt for consumer debt and credit cards and one that actually lends for businesses and job creating activities. Press TV: And I assume that the first country would be Greece, correct? Dixon: I think Greece have the perfect opportunity - whether they'll take it or not is another question, but they have that perfect opportunity really to reject the Euro, rebuild their own currencies and reform their banking. @SimonDixonTwitt

http://www.simondixon.org Simon Dixon comments on Press TV about what happens to the Bank Of England bank bailout money (@SimonDixonTwitt) The EU's recently approved bailout to Spain has not been injected directly into job creation or the real economy, but to its beleaguered banking sector. Press TV has interviewed Simon Dixon, CEO Bank to the Future.com in London about the unraveling of Western European economies and of the UK economy. What follows is an approximate transcript of the interview. Press TV: In the UK there are two alarm bells ringing here, manufacturing in a slump - as a result we have consecutive contractions in terms of the quarters and that's been blamed on the Euro Zone countries; and then you have the Bank of England setting aside 125 billion dollars to help the banks to accelerate lending. Two major alarm bells, but at the same time we don't see any indications of growth coming from the UK; and of course more money to the banks. Dixon: Sure. And what we're not seeing is what this money that's going in to the banking system is actually going to be used for, which if we're going back to business as usual it's going to be used to stimulate a property market, a speculative market rather than getting into any kind of productive use that's going to be job creating as well. So, not good signs for the UK, but then again we've been in a depression for a while and the figures are painted to be prettier than they actually are. Press TV: Let's look at the correlation here... The troubles of Greece and other Euro Zone countries and the recession in the US since we just spoke to our guest there in the US and he mentioned the US - Aren't they all related to their trade deficits? The countries with unemployment rates above seven percent have current account balance deficits while countries with unemployment rates below seven percent have current account surpluses. And of course the deficits of countries like Spain, Greece, Portugal, France, Italy, Britain and the US. Dixon: What we're seeing right now are countries deeply dependent upon ever increasing levels of debt and we're reaching the end of that cycle and governments, which their banking system, using the debt of other countries as collateral for their banking system, completely intertwined and completely collapsing together. But it all relies on the banking system and the countries are trying to solve that with more debt. When the governments are focusing on where they're going to find the new market for their debt they're focusing on how to structure the best deal. What we've seen with the 100 billion pound bailout for the Spanish banking system is you've seen... going to countries like Italy who have their own challenges and then lending money at 3 percent and they're having to borrow that money. And the margins of what they're receiving between what they're borrowing and what they're lending are completely illogical because they're having to borrow from the market at 7 percent and lend at 3 percent and it's just not working. So, now the Italian government is going to have their own issues just as a result of having to bail out the banking system in Spain. Press TV: Our guest Ravi Batra talks about reforms coming out at the end of this year when the US elections take place. The only type of reform I can see coming from the US - I don't know if you agree with this - that's preventing that disaster there is that all of these debts are expressed in dollars. The US can no longer service its debt, usually what they do is that they print US dollars - that's the only thing I see the US is doing. Is that what's happening? Dixon: It's a bit of an illusion they're printing money because what we have to remember is that only about three percent of money in the US comes as a result of the government actually creating money, 97 percent comes from loans from the banking sector through the credit market. So, what we're seeing is mass... what they're looking for is increases in bank lending as well so... if banks are going to be creating all that money then it's really important where that's actually directed. But no, we're not seeing any real reforms. The biggest opportunity for reforms that I see are not from the US, but from the countries that are actually going to reject the Euro; that are going to rebuild and create their own currencies; and figure out how to reform their banking system away from one that pushes money into property and creates debt for consumer debt and credit cards and one that actually lends for businesses and job creating activities. Press TV: And I assume that the first country would be Greece, correct? Dixon: I think Greece have the perfect opportunity - whether they'll take it or not is another question, but they have that perfect opportunity really to reject the Euro, rebuild their own currencies and reform their banking. @SimonDixonTwitt

Nothing in this content should be treated as tax, legal, investment or financial advice. Full details here: https://www.retirementplanb.com/disclaimers European Central Bank President Mario Draghi says the EU is living "a crucial moment in its history" and urged Europe's leaders to take bold measures to tackle the bloc's deepening debt crisis. Stay up to date with Simon on Twitter @SimonDixonTwitt or on his blog http://www.SimonDixon.org Draghi made the comments a day after European officials met in Brussels to discuss plans on how to stem a financial crisis that has wreaked havoc in the continent, and prepare contingency plans in case Greece quits the single currency area. The leaders concluded their latest summit early Thursday with few concrete steps to fix the financial crisis. The EU leaders have held several similar meetings over the past months as the crisis in the eurozone keeps aggravating. Press TV has conducted an interview with Simon Dixon, author of 'Bank to the Future', to hear his opinion on this issue. The following is a rough transcription of the interview. Press TV: There is not much optimism coming from the side of EU leaders recently either on Greece or on the bloc as a whole. Are they reflecting what many have said that the euro "experiment" has turned out to be a failure? Dixon: I think that is exactly what we are seeing right now. We are seeing the unfolding of the euro experiment. We are seeing a lot of people that want to keep hold of it. We are seeing a lot of people that do not know what is going to happen if their country do accept the euro but I think what we are seeing is the inevitable unfold and the experiment fail. Press TV: Germany has long been looked at as a stable economy, yet of recent, it too is losing confidence amongst investors. What has changed? Dixon: Well what we are seeing right now is an appetite not to lend to governments when you are seeing credit ratings downgraded across Europe. Now while Germany is in a very strong position, its economy is still dependent upon its partners in Europe and being dragged down with it essentially. So, what we are seeing right now across Europe is governments focusing on financial management and how to find new markets for their debts instead of actually focusing on what they must be doing which is fixing their countries. Press TV: Going back to my first question Mr. Dixon if we can, if this EU experiment really has failed, then what more is to come then for the EU as a bloc? Stay up to date with Simon on Twitter @SimonDixonTwitt or on his blog http://www.SimonDixon.org

Nothing in this content should be treated as tax, legal, investment or financial advice. Full details here: https://www.retirementplanb.com/disclaimers Simon Dixon questions and answers about how to protect your future before government go bust from his new book 'Bank To The Future: Protect Your Future Before Governments Go Bust' You can order it from Amazon.co.uk here: http://www.amazon.co.uk/s/ref=nb_sb_noss_1?url=search-alias%3Daps&field-keywords=bank+to+the+future&x=0&y=0 Or Amazon.com http://www.amazon.com/Bank-Future-Protect-before-Governments/dp/1907720375/ref=sr_1_1?ie=UTF8&qid=1337357393&sr=8-1

Nothing in this content should be treated as tax, legal, investment or financial advice. Full details here: https://www.retirementplanb.com/disclaimers http://www.simondixon.org Simon Dixon comments on what the key issues are to be debated as Greece holds its new elections. Greek politicians have failed to form a government and will now head towards holding a new election. Polls show the vote could favour the country's leftists who want to renege on the terms of bailout agreed on by the government earlier in the year. This will see the country push closer towards an exit from the eurozone, a situation which IMF chief Christine Lagarde says could get "quite messy". For more on banking reform subscribe to this channel and leave your details at http://www.simondixon.org

Nothing in this content should be treated as tax, legal, investment or financial advice. Full details here: https://www.retirementplanb.com/disclaimers http://www.simondixon.org With France moving into a more socialist economy, Simon Dixon is aksed if capitalism is the crisis and whether we need to learn from the French and go socialist. Simon Dixon distinguishes between capitalism in crisis and banking in crisis live on Press TV news. For more updates subscribe to this channel and leave your details at http://www.simondixon.org Or speak to Simon Dixon on Twitter @SimonDixonTwitt

Nothing in this content should be treated as tax, legal, investment or financial advice. Full details here: https://www.retirementplanb.com/disclaimers http://www.simondixon.org Simon Dixon shares three simple solutions to the financial crisis at the EBBF conference conference in London on excellence in banking. Everybody keeps asking Simon what he proposes in order to move into a financial system that works. Simon shares three simple solutions that were proposed in his bestseller 'Bank To The Future; Protect Your Future Before Governments Go Bust'. Simon Dixon shares how to transition from a debt based monetary system to a system where debt is not such a big feature of everybody's life. Simon Dixon shares how to get more money into the productive job creating economy, over the speculative economy. Simon Dixon shares how to remove the conflict of interest that comes from banks and politicians having control over our monetary system. For more register at http://www.simondixon.or

Nothing in this content should be treated as tax, legal, investment or financial advice. Full details here: https://www.retirementplanb.com/disclaimers British unemployment is set to rise further this year and will remain high for the next 18 months, says a new study by the UK's Institute for Public Policy Research. According to the study, Britain is currently suffering from an unemployment rate near 8.5 percent, with almost 2.7 million people out of work, which is the highest level since 1995. More than one million 16 to 24-year-olds are already out of work, with new figures later this month expected to show another rise. Press TV has conducted an interview with Simon Dixon, author of 'Bank To The Future' and founder of BankToTheFuture.com, to further discuss the issue. The following is a transcription of the interview. Press TV: 10.7 percent projected unemployment by 2016 for a major European power like the UK sounds like quite a bombshell. How significant & widespread will its consequences be, do you think? Dixon: This is massively significant. To reach 10 percent unemployment is uncharted territory in recent history. What we seem to be seeing is a massive amount of unemployment coming from the young people fresh from the university as well. With youth unemployment at such high rates, what hope have we got, really, without turning those figures around? Press TV: As we've pointed out, this would be the highest unemployment rate since '95. How successful was the UK then in dealing with it, and have any lessons been learned from then? Dixon: What we haven't done and what we haven't changed, and what we're not addressing right now is jobs in the UK. 60 percent of jobs come from the small business sector. The key to getting that turn around is unemployment figures that we need to get more money, more loans into the unemployment, into the small business sector. Right now, we're still in a banking system where almost all money goes to mortgages and consumer debt which really don't have any kind of positive impact on the unemployment figures.