L'Autre Monde 2 avril: État policier & les dessous de la crise économique
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L'Autre Monde 2 avril 2009
60 min / Radio de l'UQAM, CHOQ FM
| Diffusion en direct : Jeudi à 11:00h |
Émission du 2 avril 2009:
-Approfondissement du dossier de l'économie;
-Tour du monde de l'actualité avec la chronique des nouvelles internationales;
-La nouvelle génération des fusils Taser, les antidépresseurs qui causent des tueries, Facebook et Big Brother et plus!
Soyez au rendez-vous les jeudis à 11h sur les ondes de CHOQ FM!
***Hyperliens vers les sources des informations discutées sur l'émission d'aujourd'hui:
The decision to ban George Galloway from
Canadians are just waking up to the fact that
And note that inevitably, the Israeli shill has to fall back on the Holocaust to try to bludgeon his way through
The good point is watching the Israeli whore thrashing around and clearly aware that he is losing the war for legitimacy in the public eye.
by Michel Chossudovsky
British MP George Galloway was refused entry to
Contrary to what has been reported in the media, this was not a unilateral decision by the government of
In all likelihood, the decision was taken in close consultation with
Under the proposed agreement, the Deputy Minister of Public Safety and Emergency Preparedness of Canada is in liason with his Israeli counterpart the Director General of Public Security for the Government of the State of Israel. Together they chair a joint Management Committee.
Looks like its not just the
Well it appears that the ADL of Canada controls the Government in the same way the ADL and AIPAC do in the
Meeting chairman Paul Fromm, Director of the Canadian Association for Free Expression, called tonight’s arrest “an outrage. This is like
There have been massive protests and civil disobedience against
Sounds like the global revolution is already underway.
The House passed a bill yesterday which includes disturbing language indicating young people will be forced to undertake mandatory national service programs as fears about President Barack Obama’s promised “civilian national security force” intensify.
Neither slavery nor involuntary servitude, except as a punishment for crime where of the party shall have been duly convicted, shall exist within the
"All your child are belong to us!" -- Official White Horse Souse
More than seven years after terrorist attacks on
Like Pearl Harbor day, a day to memorialize a national deception.
Also, the concept of mandatory national service is a direct violation of the 13th amendment. More to the point, the services we are ordered to "volunteer" are the ones we were told our taxes were paying for. So where did the money go? Why are we paying taxes for services we are not expected to do for ourselves?
The New York Times reported that its parent company, the Times Co, plans to slash the pay of most employees by five per cent for nine months, in return for 10 days of leave, and to lay off 100 people.
The Washington Post said employees were being offered another round of buyouts, or early retirement packages - the second within a year - in an effort to cut costs.
It is not economic prosperity but peace that guarantees press freedom. That is the main lesson to be drawn from the world press freedom index that Reporters Without Borders compiles every year and from the 2008 edition.
Said Reporters Without Borders:
“The post-9/11 world is now clearly drawn. Destabilized and on the defensive, the leading democracies are gradually eroding the space for freedoms. The economically most powerful dictatorships arrogantly proclaim their authoritarianism, exploiting the international community’s divisions and the ravages of the wars carried out in the name of the fight against terrorism.
Religious and political taboos are taking greater hold by the year in countries that used to be advancing down the road of freedom.”
And believe it or not, this is a vast improvement from where the
At the top of the list were
Why is free press in the
Reporters Without Borders compiles the Index by asking the 14 freedom of expression organizations that are its partners worldwide, its network of 130 correspondents, as well as journalists, researchers, jurists and human rights activists, to answer 50 questions about press freedom in their countries.
It’s worth pointing out that the Index measures press freedom violations, such as harassment, censorship, the legal framework of the media, the independence of the public media, Internet restrictions and financial pressure.
So to really get the whole picture on the media in the
Who Controls the
For the most part, the media spreads a lot of misinformation and corporate propaganda. This is not at all surprising considering that Time Warner, Disney, Murdoch's News Corporation, Bertelsmann of Germany, Viacom (formerly CBS) and General Electric's NBC are the top owners of the entire media industry, which includes everything you read and hear in newspapers, magazines, TV and radio stations, books, records, movies, videos, wire services and photo agencies.
In the last 15 years alone, your sources for news have shrunk drastically. Whereas in 1983, 50 corporations ruled the
As you might imagine, with just six corporations deciding what’s worthy of news and what’s not, you end up with sensationalized tragedies, celebrity features, and anything else that will capture people’s attention.
There is virtually no competition in the media market today whatsoever, and this spells disaster for all types of news, including health information.
RUPERT MURDOCH admits his loyalty is with
Democracy is only as good as the information that we receive. Our right to vote means very little if we don’t have enough information on which to make an intelligent choice in the voting booth.
That is why corporate monopoly control over much of our national news media, which was greatly facilitated by the Telecommunications Act of 1996, has been so toxic to our democracy.
The blogs are already beating newspapers and magazines, and we are closing in on TV.
According to the great-grandson John D. Rockefeller, nephew of banker David Rockefeller, and former Senate Intelligence Committee Chairman Jay Rockefeller the internet represents a serious threat to national security. Rockefeller is not alone in this assessment. His belief that the internet is the “number one national hazard” to national security is shared by the former Director of National Intelligence Mike McConnell and Obama’s current director Admiral Dennis C. Blair.
"If we can't lie and get away with it, how are we supposed to control the slaves???" -- Official White Horse Souse
The “Newspaper Revitalization Act” was introduced this week by Senator Benjamin Cardin, a Democrat from
“We are losing our newspaper industry the economy has caused an immediate problem, but the business model for newspapers, based on circulation and advertising revenue, is broken, and that is a real tragedy for communities across the nation and for our democracy. It is in the interest of our nation and good governance that we ensure they survive” said Senator Cardin.
Giving them money won't make me buy their product.
Giving them money won't improve their product. (It only allows them to keep producing the same lousy product for a little longer.)
Giving them money won't make me buy their product BECAUSE...
...after giving them my money, I won't have any money left to buy it anyway! (Even if I wanted to, which, as I said earlier, I don't.)
This very simple logic applies to ALL companies receiving bailouts. ALL. None of these morons on the boards of these companies want to see that logic, and neither do the idiots in Congress.
To the idiots in Congress and the idiot CEO's of ANY and ALL companies....:
IF you want people to buy your products, you have to supply them with the money to do so. How? Give them a job for starters. (NO! Not the bozos in
You are losing audience because WE THE PEOPLE know that you helped the government lie to us all about Saddam's "Nookular" bombs.
As a result, the audience you are losing is coming over to the alternative media, to GCN, LNR, and the blogs.
So now, having utterly failed in your traditional role as watchdog against government abuse, and having failed as a business, you line up for a chunk of cash from the very taxpayers whose trust you violated???????
It's STILL a cattle prod, and it is STILL aimed at We The People.
The International Committee of the Red Cross concluded in a secret report that the Bush administration's treatment of al-Qaeda captives "constituted torture," a finding that strongly implied that CIA interrogation methods violated international law, according to newly published excerpts from the long-concealed 2007 document.
A high-level Spanish court has taken the first steps toward opening a criminal investigation against six former Bush administration officials, including former Attorney General Alberto R. Gonzales, on whether they violated international law by providing a legalistic framework to justify the use of torture of prisoners at
Hey, these are the guys that nailed Pinochet!
A senior Spanish judge has ordered prosecutors to investigate whether key Bush aides should be charged with crimes over the
Stigall told the Election Assistance Commission, a tiny agency that Congress created in 2002 to modernize
"You heard the old adage 'follow the money,' " Stigall said, according to a transcript of his hour-long presentation that McClatchy obtained. "I follow the vote. And wherever the vote becomes an electron and touches a computer, that's an opportunity for a malicious actor potentially to . . . make bad things happen."
Behavior detection is a touchy topic at the nation's airports. An October report by the National Research Council, an arm of the National Academy of Sciences, concluded that there is "no scientific consensus" that behavioral surveillance techniques like those employed by the TSA are an effective way to combat terrorism. It found they have "enormous potential for privacy violations."
Some security experts and civil libertarians say the practice also invites ethnic profiling.
But the agency defends the practice. Carl Maccario of the TSA helped develop the program known as Screening Passengers by Observation Techniques, or SPOT.
"It just HAS to work! Look how much tax money we spent on it!" -- Official White Horse Souse
The Missouri Department of Public Safety has retracted a controversial profiling memo which linked libertarian activists, Christians, constitutionalists, supporters of Congressman Ron Paul and other traditionally conservative groups to underground militias.
Too late. Nobody will ever believe that this is not still what the government is thinking.
Among the suspects is a police officer who worked as a bodyguard for a rabbi. Another suspect is one of two security guards on duty during the attack, who is suspected of aiding intruders by deactivating an alarm and an electric fence surrounding the building.
The idea to police MySpace, Bebo and Facebook comes on top of plans to store information about every phone call, email and internet visit made by everyone in the
Actually, they are tracking people who object to what the government is doing.
They better have a really BIG computer system!
Facebook is associated with the CIA for the purpose of profiling all members.
American planes, last January, attacked and bombed an arms convoy which was heading towards Sudan-Egypt borders, the Egyptian Al-Shurooq newspaper said Tuesday.
The report also noted that the convoy, consisting of 17 trucks, carried 39 passengers -- none of which survived the attack.
The Sudanese state minister for highways Mabrouk Mubarak Saleem told reporters at a press conference in the Eastern city of Kassala near Eritrea that a "major power bombed small trucks carrying arms, burrying all of them. It killed Sudanese, Eritrean and Ethiopians [passengers] and injured others."
The blitz is believed to have occurred in a desert area in Northwest of Port Sudan city, near the Mount Al-Sha'anoon.
The planes that carried out the attack were most likely based in
The official highlighted that airstrike was a flagrant violation of
The Al-Shurooq newspaper said that Sudanese authorities have conducted 'a full blown dossier' on the attack containing images, forensics as well as remains of weapons and satellite phones.
The US Army at times has attacked African nationals on their soil under the pretext of 'war on terror' which allegedly seeks to eradicate insurgents and establish security and stability.
In January 2007, two American helicopter gunships killed 31 civilians, including a newlywed couple, in an attack on suspected al-Qaeda operatives near Afmadow -- a southern
Oh what a slippery slope Obama is now on. This Sudanese attack has
Obama is desperate for a major war on which he can blame the deteriorating economic situation.
Yemeni President Ali Abdullah Saleh has said the security forces have arrested a group of alleged Islamist militants linked to Israeli intelligence.
See FAKE AL QAEDA!
Japan gave its military the green light on Friday to shoot down any incoming North Korean rocket, with tensions high ahead of a planned launch that the US and allies say will be an illegal missile test.
Japanese and US warships have already deployed ahead of the April 4-8 window, when the secretive North has said it will launch a communications satellite — warning that shooting it down would be seen as an act of war.
As is the case with
In the case of
However, the US itself used modified nuclear-capable ICBMs in the early days of our space program, such as the Atlas for the Mercury Program, and the Titan (still used today) for Gemini. The
If we start destroying everything that might be used for military purposes, we will be back in the stone age!
The US, South Korea and Japan warn that North Korea will face UN sanctions under a 2006 Security Council resolution banning the country from any ballistic activity.
"This provocative action, in violation of the United Nations mandate, will not go unnoticed and there will be consequences," said US Secretary of State Hillary Clinton during a recent visit to
The Japanese parliament has also taken an aggressive stance on the issue and passed a resolution on Tuesday, urging
Two hundred schoolchildren in
The number was revealed to The Independent by Sir Norman Bettison, the chief constable of West Yorkshire Police and
He said the "Channel project" had intervened in the cases of at least 200 children who were thought to be at risk of extremism, since it began 18 months ago. The number has leapt from 10 children identified by June 2008.
The programme, run by the Association of Chief Police Officers, asks teachers, parents and other community figures to be vigilant for signs that may indicate an attraction to extreme views or susceptibility to being "groomed" by radicalisers. Sir Norman, whose force covers the area in which all four 7 July 2005 bombers grew up, said: "What will often manifest itself is what might be regarded as racism and the adoption of bad attitudes towards 'the West'.
"One of the four bombers of 7 July was, on the face of it, a model student. He had never been in trouble with the police, was the son of a well-established family and was employed and integrated into society.
Meanwhile the robbers, muggers, and rapists are running wild because the cops are too busy playing guessing games with the kiddies.
Residents of a Nottinghamshire housing estate have installed pink lights which show up teenagers’ spots in a bid to stop them gathering in the area.
Members of Layton Burroughs Residents’ Association, Mansfield say they have bought the lights in a bid to curb anti-social behaviour. The lights are said to have a calming influence, but they also highlight skin blemishes.
THIS IS HOW OUT OF CONTROL THE POLICE HAVE GOTTEN IN THIS COUNTRY.
READ THIS ALL THE WAY THROUGH.
AFTER YOU ARE DONE YOU WILL REALIZE THAT SHOOTING BACK MAY BE THE BEST POSSIBLE OPTION.
Junnier and two other ex-officers, Arthur Tesler and Jason Smith, face prison in connection with the November 2006 drug raid that left 92-year-old Kathryn Johnston dead in a hail of gunfire.
Investigators later determined the raid was based on falsified paperwork stating that illegal drugs were present in the home.
A fifth officer, a member of the SWAT team that killed the suspect police held responsible for the shootings, was treated for minor injuries and released.
I apologize, but given the actions of the police in recent months (as evidenced by stories further down this page today) I am having a very hard time sympathizing with their fate or condemning the shooter.
Given the sheer number of innocent people killed by the police either with tasers or kicking down the wrong doors, and other criminality wearing a badge, I fully understand how some people might feel like shooting back when attacked is their best option.
Despite President Barack Obama’s statement at Camp LeJeune, North Carolina Feb. 27 that he had "chosen a timeline that will remove our combat brigades over the next 18 months," a number of Brigade Combat Teams (BCTs), which have been the basic U.S. Army combat unit in Iraq for six years, will remain in Iraq after that date under a new non-combat label.
There is sufficient circumstantial evidence from their concerted lobbying efforts to undo and resist regulation to show planning and forethought in what is an almost amazingly straightforward case of fiduciary and financial fraud. Many a blind eye was turned to the decline of the nation as it occurred, as the media and politicians and financial regulators were caught up in a seductive web of corruption.
The perpetrators are still in place, relatively unrestrained, and certainly not facing anything that might be called 'justice.'
Wake up call
How much we really owe
He has a Plan B - Do You?
David Walker, who ran the Government Accounting Office until 2008, knows more about the finances of the
Last year he quit the job he loved to devote himself to trying to wake up the
You're being ripped off, you're broke and the country is headed off a cliff.
At the end of the interview,
By Tom Foremski - October 16, 2008
More must read financial analysis from DK Matai, Chairman of the ACTA Open.
The Invisible One Quadrillion Dollar Equation -- Asymmetric Leverage and Systemic Risk
According to various distinguished sources including the Bank for International Settlements (BIS) in Basel, Switzerland -- the central bankers' bank -- the amount of outstanding derivatives worldwide as of December 2007 crossed USD 1.144 Quadrillion, ie, USD 1,144 Trillion. The main categories of the USD 1.144 Quadrillion derivatives market were the following:
1. Listed credit derivatives stood at USD 548 trillion;
2. The Over-The-Counter (OTC) derivatives stood in notional or face value at USD 596 trillion and included:
a. Interest Rate Derivatives at about USD 393+ trillion;
b. Credit Default Swaps at about USD 58+ trillion;
c. Foreign Exchange Derivatives at about USD 56+ trillion;
d. Commodity Derivatives at about USD 9 trillion;
e. Equity Linked Derivatives at about USD 8.5 trillion; and
f. Unallocated Derivatives at about USD 71+ trillion.
Quadrillion? That is a number only super computing engineers and astronomers used to use, not economists and bankers! For example, the North star is "just" a couple of quadrillion miles away, ie, a few thousand trillion miles.
Looks like Rivero's March 6,000 prediction may be correct.
Futures for the Dow Jones Industrial Average are down sharply indicating an opening of 6,918, the lowest level in 13 years.
News of a massive loss from AIG, and the announcement that HSBC will pull out of the
News of the Citi takeover rattled the markets and the Dow Jones fell further by weeks end closing at 7,063 which was the lowest closing price since 1996. The odds of the Dow Jones challenging the 6,000 level has increased greatly.
The collapse is nearing capitulation.
Soon enough, there will be no buyers at any price.
President Obama's $3.6 trillion budget and the additional trillions earmarked for stimulus packages and further bailouts may provide temporary relief, but will ultimately destroy the value of the US dollar. The global financial system is in collapse. And neither stimulus nor spending packages will reverse it. We remain bullish on gold and stand by our prediction of gold at $2000 per ounce.
President Barack Obama has thrown a lifeline to some small businesses here on the Suncoast. Many are fighting to stay open in this economy, and owners say the money from the stimulus plan will help them.
The President announced Monday that he's earmarking $730 million of the stimulus money to help small businesses get credit. He's ordering banks receiving federal money to report on how much of that money they are loaning to small businesses. And he's asking all banks - even those not receiving federal money - to make an extra effort to loan money to small businesses.
We don't need loans, WE NEED CUSTOMERS!
We don't need more debt, we need the means to get out of debt!
WEE NEED THE GOVERNMENT TO STOP TAKING OUR MONEY TO GIVE TO THE BANKS TO LOAN BACK TO US AT INTEREST!
The panic phase is an acceleration in the economic decline … a chain reaction of debt explosions … a free-fall in the financial markets … and a series of rude awakenings that will accelerate the decline even further
Rude Awakening #
Forecasting Models Are Worthless.
Rude Awakening #2
The Economy Is Sinking Three to
Five Times Faster Than Expected.
In 2009, the White House predicts the economy will contract by a meager 1.2 percent, while private economists predict a decline of only 2.0 percent.
The grim reality:
- The 6.2 percent plunge in the fourth quarter — plus a similar decline estimated for the current quarter — shows the economy is now sinking three to five times faster than they’re forecasting for the year.
- There is absolutely no sign that the decline is ending and every sign that it’s accelerating.
- Thus, to contain this year’s decline to the meager 1 or 2 percent that the government and private economists are projecting would require a comeback in the second half that’s nothing short of a miracle.
Rude Awakening #3
The Dangerous, Unintended Consequences of the
Government’s Rescue Efforts Can Only Deepen,
Broaden and Prolong the Economic Decline.
Rude Awakening #4
Investors Who Fail to Take Protective
Action Could Lose as Much as 90 Percent
In Virtually Every Asset Imaginable.
Un article de Wikipédia, l'encyclopédie libre.
Une ruée bancaire ou panique bancaire ((en) bank run) est un phénomène, souvent auto-réalisateur, dans lequel un grand nombre de clients d'une banque craignent qu'elle ne devienne insolvable et en retirent leurs dépôts le plus vite possible.
However, other persons (and particularly those who note the hundreds of “odd” items dealing with 9/11, including but not limited to the arrest of hundreds of Israeli intelligence operatives, some seen cheering as the Twin Towers were crumbling) will see with good reason that the current financial crisis–rather than being an “accident” may very well be an act of sabotage on the part of certain interested parties who stand to benefit from it all, and that out of all the possible players more likely than others to do it– this “economic 9/
I guess I am not the only one who noticed.
FOLKS, THIS IS THE MOST IMPORTANT STORY ON THIS WEB SITE TODAY!
Here is the damning factor; those withdrawals all had to go someplace. The money transfer system has to know who issued the orders for those withdrawals and who wound up with that money.
Why is nobody saying who it is?
I think we can assume that had it been
But our government does know who did this.
And their failure to respond to such an obvious attack says a great deal about who the attacker was.
And I will go you one more. In what must be the biggest betrayal of the American people ever, surpassing that of the cover-up of the USS Liberty and 9-11, our government decided that all the hardships we have suffered, the loss of jobs, the loss of homes, the flood of bankruptcies, the pouring of thousands of dollars in tax debt onto every American, ALL THAT WE HAVE SUFFERED FOR THE LAST FOUR MONTHS AND WILL SUFFER FOR MONTHS TO COME, was preferable to embarrassing the parties responsible for this new 9-11.
Treason is defined as giving aid to an enemy in time of war.
The entire US Government and the corporate media concealed this attack from the American people, deciding that it was better for the people to be impoverished, rather than embarrass the nation that attacked us.
By any definition of the word, the Government and the media have committed the highest possible treason against the people of the
Mark Glenn, the author of this article, will be my guest on the What Really Happened radio show Monday!
I now believe that the
Or, for that matter, the government itself!
Rep. Brad Sherman says Congress threatened with Martial Law if first bailout bill is not passed.
I am relinking this in light of "September 11th, 2008–America’s Economic 9/11?" below.
A very disturbing picture is starting to emerge.
Based on Kanjorski's admission on CSPAN, someone tried to orchestrate the collapse of the
Suspicion falls of course on
It appears that, as was the case with USS Liberty, the US Government once again is protecting the real culprits, even to the point of allowing Americans to suffer severe economic hardships which may be the direct result of this new 9-11 attack rather than embarrassing our so-called ally in the
I want to emphasize that again. This entire economic crash we are suffering today may be artificially created to push us to war.
This video underscores the suddenness with which the "crisis" appeared and the extreme threats used to coerce Congress into passing the bill.
Something stinks to high heaven here. If what Kanjorski says is true, this nation was attacked again on
If you are not angry, then you are already dead.
Kanjorski admitted this only in his fluster at a very angry caller into C-Span. The moral of this video is twofold. First, the government and corporate media are still concealing information from you that you needed to know. Second, call and scream at politicians. It gets them flustered and they will admit information they otherwise would not (and it will lower your blood pressure as well).
What this article misses is that the economic attack was intendedd to cause the maximum damage. Kanjorski talks about "around the 15th" then mentions Thursday. The Thursday before the 15th was the 11th, and the trades took place between 9AM and 11AM. Whoever did this attack wanted the obvious parallels with the first 9-11. In other words, this was a false flag attack.
Who did it?
I think we can assume that if it were an Arab nation, it would have been headline news.
"Evidence linking these Israelis to 9/11 is classified. I cannot tell
you about evidence that has been gathered. It's classified information." --
At 2 minutes, 20 seconds into this C-Span video clip, Rep. Paul Kanjorski of
At 2:20 the big ugly secret comes out. Within an hour, some $550 billion was electronically withdrawn from the money market accounts. The claim is that had the government not blocked further withdrawals and stared poffering guarantees, the
Obviously there are theories all around as to what happened, and mine is very simple.
Wall Street knew they were in trouble. The American people were no longer asking for new loans that could create new money that would be used to pay the interest on old loans. Collapse was imminent, and worse, the American people rightly blamed the financial shysters for their poverty. People were starting to sue the mortgage lenders and the mortgage-back securities fraudsters.
So the investment banks and brokerages and loan companies pulled off a scam. Working through overseas "cut-outs" they yanked $500 billion dollars to put a scare into the US Government, then turned around and warned that if the bailout was not passed, they would collapse the
This theory explains the absolute total panic we saw in Congress as they ramrodded through the first bailout despite overwhelming taxpayer opposition.
And the problem is that is this theory is correct, and the Wall Street "Bernies" are blackmailing the US Government with their own financial doomsday weapon, then the bailouts will continue, as blackmailers never stop on their own.
This may be why, even as Congress passes this most recent bailout, word is already coming from the White House that yet another trillion and a half bailout is already being planned.
A financial attack on the world economy happened on Monday, September 15, 2008 – but we're not supposed to talk about this. The mainstream media has been ignoring this issue, and the only attention it has been receiving is from talk radio and the blogosphere.
I now believe that the
Or, for that matter, the government itself!
"You get their money, I get their children!" -- Official White Horse Souse
Citigroup (C) and Bank of America won’t live to see May. The government will take them over within the next 60 days. The announcement may come as soon as tomorrow evening.
FDIC reports that number of troubled institutions soared during the fourth quarter to the highest level since 1994.
Dans la cas de nationalization des banques ou de la privatization de l’État, on comprends que les banquiers ont pris contrôle de ce dernier et se donnent le pouvoir de saisir les cies
The Obama administration will ask Congress to give the Treasury secretary unprecedented powers to initiate the seizure of non-bank financial companies, such as large insurers, investment firms and hedge funds, whose collapse would damage the broader economy, White House spokesman Robert Gibbs said this morning.
Treasury Secretary Timothy F. Geithner is set to argue for the new powers at a hearing today on Capitol Hill that was scheduled to address the furor over bonuses paid to executives at American International Group, which the government has propped up with about $180 billion in federal aid. Administration officials say the proposed authority would have allowed them to seize AIG last fall and wind down its operations at less cost to taxpayers.
Why is it the responsibility of the US Government to save AIG's counterparties form their own poor choices?
Why is it the responsibility of the
"Actually it DOES work! Robbing the taxpayers IS the plan!" -- Official White Horse Souse
Nobel Laureate Dr. Joseph Stiglitz Says "The Geithner Plan Amounts To Robbery Of The American People"
From the Reuters interview:
"The Geithner plan is very badly flawed," Stiglitz told Reuters in an interview during a Credit Suisse Asian Investment Conference in
U.S. Treasury Secretary Timothy Geithner's plan to wipe up to US$1 trillion in bad debt off banks' balance sheets, unveiled on Monday, offered "perverse incentives," Stiglitz said.
Then, the Treasury Secretary took a walk on the foreign-exchange wild side today, saying he would be open to the idea that a different currency could be used to settle world-wide trading accounts. Geithner told the Council on Foreign Relations that he would be “quite open” to abandoning the U.S. dollar as the primary global reserve currency. According to reporting by our colleague Joanna Slater, Geithner said he could evaluate using a melded currency called Special Drawing Rights. Later, Geithner backtracked by saying that the dollar is still the world’s dominant reserve currency and that the U.S. is committed to ensuring it remains so. The White House had to issue a statement agreeing after Geithner’s remarks hurt the trading value of the dollar.
Wall Street erupted in a demonstration of euphoria and greed Monday as the Obama administration announced a plan to offload bankers' bad debts that amounts to an unprecedented looting of taxpayer funds to benefit the financial elite.
A U.N. panel will next week recommend that the world ditch the dollar as its reserve currency in favor of a shared basket of currencies, a member of the panel said on Wednesday, adding to pressure on the dollar.
We have been making good market calls, end the tax havens, bankrupt America, no solution from the banks, we believe the bailouts wont work, no return to confidence in the markets, re-inflation may be what will keep it all going.
Financing for capital equipment investment tumbled for the seventh straight month in February, according to a trade group representing lenders who finance half the capex investment in the
The economic crisis sweeping Central and Eastern Europe has claimed a third victim in a month after the Czech government lost a vote of no confidence on Tuesday night in a drama that risks setting off a fresh round of investor flight from the region.
Central banks will inflate to keep any major bank from collapsing. But the trend is ominous.
Whether it takes months, or just weeks, the world is going to discover that
The West's economy really is at the edge of a leveraged disaster. The politicians know only one answer: deficit spending. The central bankers have only on significant tool: monetary inflation. The speed of events is increasing.
The markets don't reflect this yet. This gives time to a few people to get out. But the vast majority cannot get out. There are too few escape hatches open.
Some of the large banks in the
Bloomberg Feb 17, 2008 Meera Louis and Zoe Schneeweiss
Units of Austrian, Italian, French, Belgian, German and Swedish banks account for 84 percent of western European bank loans in eastern Europe, Moody’s wrote. Central and east European economies are weakening, with the International Monetary Fund already offering about $52 billion in aid to
The world needs a "global New Deal" to haul it out of the economic crisis it faces, Prime Minister Gordon Brown of the
No Mr. Brown, it needs a hanging party for the greedy bastards who used derivatives to bankrupt the financial system and the politicians who agreed to dump the losses on the people.
Globalism is why the whole world was brought down by Wall Street. Globalism will not get us out.