Les Nouvelles Internationales est un site alternatif pour les gens qui veulent mieux comprendre ce qui se passe dans notre monde et pour mieux connaître notre histoire.
Ce site se veut un moyen de résister à la manipulation de la pensée par la désinformation et la propagande de masse.
Une population éduquée n`est pas manipulable. Cessons de nous faire violer psychiquement, protégeons-nous mentalement. Les ploutocrates dépensent des milliards pour contrôler notre pensée. Fermons la TV!
Voici deux documents à
explorer pour comprendre la direction vers laquelle on veut nous amener et qui
risquent de jeter un nouvel éclairage sur un peu tout ce qui se passe depuis le
début de la crise « pandémique » de la « Covid19 » et du « Great
Reset » du Forum Économique Mondial. Car agenda, il y a. Et il est
officiellement publié, avec la collaboration du gouvernement du Canada même!
On
peut trouver à la page 16 du PDF, où se trouve le chapitre « Bonjour
le bionumérique" », un exemple du futur qu'ils entrevoient,
ou plutôt le monde qu'ils veulent créer pour nous. C'est comme un film de
science-fiction futuriste, sauf qu'ils disent que ces technologies existent
déjà... On peut lire le tout, mais regardez bien le chapitre suivant et le
tableau intitulé "Tableau 1 : Capacités nouvelles découlant de la
convergence des systèmes numériques et biologiques, où ils parlent de
ouvertement de "Modification du génome humain – nos attributs et nos
caractéristiques biologiques de base", de "Surveillance, modification
et manipulation des pensées et des comportements humains", de
"Manières nouvelles de surveiller, de gérer et d’agir sur les fonctions
corporelles, ainsi que de prédire, de diagnostiquer et de traiter les
maladies", etc...
Dans
ce document, ils vont amicalement nous informer sur ce qu'est l'humain augmenté
(humain+), les enjeux que cela va entrainer dans toutes les sphères de notre
vie, médicale, sociale, économique, etc. Très édifiant.
Et
tout ça... joyeusement commandité par le gouvernement du Canada!
-----------------------
Note:
Les premiers humains OGM sont crées avec la
technologie à ARNm, déjà la convergence bionumérique est amorcée, sans le
consentement et la conscience des gens qui sont inoculés avec cette technologie
génétique à ARNm, sous le couvert d'être des "vaccins", ce qu'ils ne
sont pas.
Cette technologie a été développée par la DARPA, en
collaboration avec Pfizer et Moderna. DARPA, c'est la Defense
Advanced Research Projects Agency, qui est une agence du département de la
Défense des États-Unis chargée de la recherche et développement des nouvelles
technologies destinées à un usage militaire. Je sais que ça peut paraître
troublant, car ça l'est!
Et ce n'est pas tout, comme par magie
ou par hasard, l'OMS vient de publier un document faisant état de leurs
recommandations concernant la modification du génome humain (human genome
editing) que vous pouvez trouver là: https://www.who.int/publications/i/item/9789240030381
The following
excerpts of the NY Fed proposal to Bernanke and Co. reveals, plans for coping
with a banking crisis in the U.S. via some form of dollar devaluation are
underway, including capital controls to stem a bank run—of course.
Stephanie
Pomboy, founder of MacroMavens, sees the world hurtling toward a day in which
money will again be backed by gold or other hard assets. Until then, she also
sees plenty of trouble. "Hear Me
Now, Believe Me Later," was the title of two separate and prescient pieces
penned by Pomboy, an economist and founder of the MacroMavens research
boutique. One, published in March 2006, foretold the disastrous costs of the
housing bubble. The second, somewhat later, laid out the consequences of the
bubble's "financial echo." Today, Pomboy predicts something more
draconian: the demise of fiat money—currencies that aren't backed by anything
other than government decrees that they have value.
Fears that
Greece could be forced into bankruptcy in September have been raised by a
report that the International Monetary Fund (IMF) is about to pull the plug on
providing additional finance to the debt-ridden Mediterranean country.
A report to be published in Monday's edition of Der Spiegel claims that the
International Monetary Fund (IMF) is considering ending financial aid to
Greece. According to Bloomberg the information in the Der Spiegel report was
provided by "unidentified European Union officials."
The report states "High ranking officials at the Fund have informed the
European Union that the IMF is no longer willing to provide Greece with more
aid.” Apparently the patience of high-ranking IMF officials has worn thin. Looks like we
are beginning to see the end of the Euro in the not too distant future, if this
report is true.
The
government’s special inspector general in charge of oversight of the Troubled
Asset Relief Program (the “TARP” bank bailouts) – Neil M. Barofsky – wrote a
stunning editorial for Bloomberg yesterday, concluding: Americans
should lose faith in their government. They should deplore the captured politicians
and regulators who distributed tax dollars to the banks without insisting that
they be accountable. The American people should be revolted by a financial
system that rewards failure and protects those who drove it to the point of
collapse and will undoubtedly do so again. Only with
this appropriate and justified rage can we hope for the type of reform that
will one day break our system free from the corrupting grasp of the megabanks.
America's
one percent are among the richest people on Earth. So it stands to reason
ordinary Americans ought to be doing quite well, right? Right? Right? Let's
see, where are we? Top? Nope. Second place? Nope. The bronze ... ummmm ....
nope. We are .... way down ... ewwwwwwww!
This
should brighten your mood for the weekend. The average Italian has a net worth
three times as much as you. I thought their country was a shambles. The average
freaking Spaniard has a higher net worth than you. I guess buying shit on
credit for the last three decades didn’t actually make us richer. Who da thunk
it? Time to fire up the barbie mate. It’s good to be an Australian – for now.
On Wall
Street, there's a benefit to developing into something big and complex. America's
seven biggest banks now have more than 14,500 subsidiaries around the world,
according to a new report by the Federal Reserve Bank of New York (h/t
Bloomberg). They have hatched more than 10,000 of these subsidiaries since
1991, largely in an aim to skirt regulations and taxes, according to the
report. By stashing
assets in foreign subsidiaries, banks can avoid U.S. taxes since the assets are
subject to taxes in the country in which they are held. In addition, if the
subsidiaries are in tax havens, the companies can pay taxes at a super low rate
or, in some cases, not at all.
Banks have
been caught manipulating the benchmark for $800 trillion in financial
instruments with the blessing full blessing of the FED and the Bank of England. This
infographic explains it so everyone can understand it.
At one time,
calling the large multinational banks a “cartel” branded you as a conspiracy
theorist. Today the banking giants are being called that and worse, not just in
the major media but in court documents intended to prove the allegations as
facts. Charges include racketeering (organized crime under the U.S. Racketeer
Influenced and Corrupt Organizations Act or RICO), antitrust violations, wire
fraud, bid-rigging, and price-fixing. Damning charges have already been proven,
and major damages and penalties assessed. Conspiracy theory has become
established fact. Only three of
the rate-setting banks were U.S.banks—JPMorgan, Citibank and Bank of
America—and they slashed their local lending after the 2008 crisis. In the
following three years, the four largest U.S. banks—BOA, Citi, JPM and Wells
Fargo—cut back on small business lending by a full 53 percent. The two
largest—BOA and Citi—cut back on local lending by 94 percent and 64 percent,
respectively. Their profits
now come largely from derivatives. Today, 96% of derivatives are held by just
four banks—JPM, Citi, BOA and Goldman Sachs—and the LIBOR scam significantly
boosted their profits on these bets. Interest-rate swaps compose fully 82
percent of the derivatives trade. The Bank for International Settlements
reports a notional amount outstanding as of June 2009 of $342 trillion.
Manipulation du LIBOR et de l’EURIBOR – L’arbre qui cache
la forêt ?
Alors que le
scandale des produits dérivés types CDS (Credit default Swap) à l’origine de la
crise des Subprimes de 2007-2008 est loin d’avoir fini de déverser son torrent
d’injustice et de crimes impunis, voici que depuis quelques jours, une nouvelle
raison d’être bien plus qu’indigné, vient frapper violement au coin du bon sens
l’ensemble des débiteurs que nous sommes tous.
Le
LIBOR et l’EURIBOR c’est quoi ? :
Il
s’agit ni plus ni moins que des taux d’intérêt de référence (Le LIBOR pour la
City de Londres puis plus tard à partir de 1999 l’EURIBOR qui en est une
déclinaison pour la Zone Euro) à partir desquels vont être définis ceux
appliqués a votre contrat de crédit pour l’achat de votre maison ou bien encore
par exemple votre crédit à la consommation. Ce sont les banques entres-elles
(les mafieuses associées) qui en définissent la valeur chaque jour après
concertation.
Comment
sont-ils calculés :
De
l’apparente complexité des soit disant multiples variables en
permettant la définition, il convient de ne retenir qu’une chose, le LIBOR et
l’EURIBOR dépendent des Taux pratiqués par la FED (Banque Fédérale
Américaine et de la BCE (Banque Centrale Européenne). La faculté d’imprimer des
billets du Royaume Uni n’intervenant que sur la devise Anglaise (La livre
sterling), le LIBOR et l’EURIBOR dépendent donc bien directement de l’hégémonie
du dollar, qui en tant que devise de référence (l’Euro n’étant bizarrement
finalement qu’une devise comme une autre), s’impose partout dans le monde (plus
pour très longtemps certes….).
Notons au
passage que la BCE n’imprime des Euros que si ceux-ci ont d’abord été
matérialisés par une ligne de crédit en dollars (Article 123 du Traité de
Lisbonne) contractée auprès des marchés financiers US.
C’est donc
bien la faculté que possède la FED d’imprimer des dollars qui donne aux taux
d’intérêts qu’elle pratique une valeur de référence dans le calcul des taux que
vont appliqués nos banques qui empruntent à la FED (Où la BCE via la FED)
l’argent qu’elle vous prête ensuite.
Il est
vrai que le Système fractionnaire bancaire (autre arnaque à découvrir
ici : http://www.youtube.com/watch?v=QNbCAzzXw14 )
appliqué à vos dépôts est également à prendre en compte, mais puisque plus de
95% de l’argent qui circulent dans le monde ne provient pas de l’économie
réelle, nous pouvons donc affirmer sans trop d’erreur que les taux appliqués
par la FED devrait normalement impacter directement les taux de remboursement
de votre maison ou celui de votre crédit à la consommation via le LIBOR où
l’EURIBOR.
Et
pourtant c’est bien le conditionnel qu’il convient ici d’employer car si l’on
étudie de prêt sur 10 ans les 4 courbes (FED BCE LIBOR et EURIBOR) l’on
constate effectivement une quasi parfaite corrélation entre les courbes a une
très grosse exception prêt….
Historique des Taux de la FED
et de la BCE sur plus de 10 ans
Nous
constatons en effet que si dans la période de la moitié 2010 jusqu’à la fin
2011 c’est le calme plat du Côté de la FED avec un taux au ras des pâquerettes,
il apparait clairement une très grosse Bosse du côté du LIBOR et de L’EURIBOR.
Il semble bien également que la BCE, afin de probablement donner de la
consistance à ses différents plans de sauvetage de la mort qui tue n’ait pas
résisté à l’envie elle aussi de mettre la main entière dans le pot de confiture
de la masse d’argent dégagée par le delta entre les taux réels de l’argent
disponible (auprès de la FED) et les taux appliqués aux prêts accordés pour le
sauvetage des banques, banques qui ne ce sont pas gênées elles non plus de leur
côté pour nous arnaquer via l’EURIBOR et le LIBOR non contente de ce satisfaire
du pillage des Etats (donc avec notre argent encore et toujours) volant à leur
secours.
Nous
sommes donc bien loin du grand flou artistique et sans véritables explications
de ce qu’est cette fameuse manipulation du LIBOR, en tout cas, l’on comprend
mieux maintenant pourquoi devant l’afflux de Tweet lui demandant pourquoi il ne
parlait pas du LIBOR sur BFMTV, le chroniqueur économique Nicolas DOZE s’est vu
obligé de répondre : « J’ai trouvé le sujet trop aride pour le grand
public ».
Tu
m’étonnes……
------------------------- Mon article rebondit sur l’affaire du LIBOR pour mettre en avant l’étrange
bosse que l’on retrouve sur les 2 courbes du LIBOR et de l’EURIBOR. Il ne
s’agit donc pas de rajouter à la complexité volontairement entretenue par les
médias, mais bien de simplifier avec une constatation toute simple, alors que
les courbes de la FED, de la BCE, du LIBOR et de l’EURIBOR suivent depuis des
années des courbes communes, il y a une étrange variation sur la période
2010-2012 alors que la FED est au plus bas. Nos Taux de Crédit étant indexé sur
l’EURIBOR, nous sommes donc tous concerné par cette bosse qui ne devrait pas
être là. ---------------------------- La seule chose à retenir c’est que les banques ce financent proche de 0%
auprès de la FED, alors qu’elles continuent à nous mettre des taux au plus haut
et elles les ont même augmentés pour ne pas couler dans la période 2010-2012.
Les courbes sont sans appel.
A recent CNBC
clip in which financial analysts admit to viewers that America is under the
control of a group of central bankers who are building a world government is a
damning insight into how the establishment has dispensed with any pretense of
trying to hide their agenda as it is finalized.
“As this scandal is brought to light, that the
unallocated gold and silver are not there, and much of the allocated gold and
silver is not at these banks either, and as you see these naked short positions
unwound, the world will witness a massive price rise in in both gold and
silver. The move in gold and silver, at that point, will literally
frighten most people. They simply won’t understand what is happening.
When someone goes to a bank and deposits money, if you
look at the small print, you don’t actually own that money, you’ve simply
loaned it to the bank. The banks will then turn right around and lend ten
to one or whatever leverage they determine to use with your cash. Well,
when there is a run on the banks, as there has been in Europe, the money is
printed by governments and given to the customers to calm things down.
The underlying problem here is that when the run on
physical gold and silver begins, how will the banks print the gold and
silver? It’s not possible. So something is brewing here.
There’s no smoke without a fire. The reason this information is beginning
to be discussed more openly is because of legal reasons. They need to be
able to say, ‘We disclosed to people that the gold and silver wasn’t there.’
Yes, this will include a scandal at the LBMA in those
unallocated accounts. The paper leverage in the LBMA system is off the
charts. Investors believe their gold and silver is sitting in those
unallocated accounts, and they will be in shock when they find out it isn’t
there.
We are talking here about a run on the bullion
bank. As this unfolds there will be a failure. These people will
only receive the fixed price before trading is halted. This will not be
called a default. Then there will be a massive gap in the price of gold
and silver. But the bullion banks will not be allowed to go bankrupt
during this process. There is a ring of counterparties here. If one
of them fails, the whole system can fail. So they will not be allowed to
fail.”
The London Trader also stated: “I
would also add that demand for gold from China is unceasing. The Chinese
not only want to diversify out of dollars, but now they also want to diversify
out of the euro as well. They are trying to do this in size. They want
out of those currencies, and what they are doing is exchanging them at the
fixes in London for gold, and this will surprise some people, but we are
beginning to see it in silver as well.
Gold is the primary focus, but very recently, and on
every dip, we are seeing significant purchases of silver in size. So yes,
demand from China, it’s unceasing. They want out of these debasing
currencies. I would add that they are buying anything that’s tangible,
land, timber, mines, art, etc..
It is absolute nonsense when people speculate the
Chinese may stop buying gold and silver. When you see 315 tons of gold
was purchased by China in the first five months of the year, that’s just the
tip of the iceberg. That 315 ton figure that was recently reported is patently
false. That’s just what they can’t hide. The actual amount of gold
China has accumulated is many times that 315 ton figure.
The buying is relentless. It’s every single fix,
every single day. The Chinese are eventually planning to have gold back their
new currency, which is going to replace the dollar as the reserve currency.”
We had the recent proposal to have gold categorized as
a Tier-1 asset. This moves the risk weighting from 50% to 0%. Most
people have not grasped the full significance of this proposal. This will
change the entire mechanics of the gold market when there is a time of stress,
such as the one we witnessed in 2008.
This is one of the major reasons why those calling for
a collapse in gold are going to be proven wrong. Yes, in 2008/2009 we did
see a significant correction in the price of gold, and that was a result of the
liquidity drying up. But in 2008, because gold was not considered a
Tier-1 asset, it forced the banks to sell their only remaining liquid asset in
order to raise cash. This was done to meet margin requirements.
There was so much gold hitting the bid all at once
that it was like a huge bottleneck. This instigated a $200,
waterfall-type decline, that amounted to a roughly 20% correction in gold in
just 30 days. This took place against tremendous fundamentals for
gold. In fact, the fundamentals for gold were so strong, that when gold
bottomed in 2009, it only took just over 30 days for gold to break back above
the level where the waterfall decline first began.
The difference this time around is that gold may be
considered a Tier-1 asset, and what that means is that it will be equal to cash
or Treasuries. So there will be no need for banks to liquidate gold in
order to meet margin requirements. You may, instead, see fresh new money
entering the gold market. It’s going to provide a bid where there was no
bid in 2008.”
[Bank of
England executive] Paul Tucker told MPs that Barclays’ abuse of the Libor
system may be only one part of the banks’ dishonesty over crucial financial
information, suggesting that other markets should now be investigated. An official
inquiry into Libor – which helps determine interest rates for householders and
businesses – should be broadened to include several over markets where banks
are trusted to report their own data, he said. The Libor
scandal could be repeated in a number of other “self-certifying” markets where
prices are determined, he said. “Self-certification
is clearly open to abuse, so this could occur elsewhere,” he said. A Financial
Services Authority inquiry into Libor should be extended to other
self-certifying markets, he said. The Treasury said last night that the review,
led by Martin Wheatley, was free to examine markets other than Libor. Translation: these kinds of
sharp practices infiltrated and infected every portion of the financial world.
Senior
managers at Barclays have warned staff in an internal memo that the Libor
scandal will envelop other banks. The memo
circulated on Friday said that revelations about its rivals would "put in
perspective" Barclays' culpability. Meanwhile
Barclays' former chief operating officer Jerry del Missier will answer MPs'
questions on Monday. Mr del
Missier stands accused of having mistakenly believed Barclays was told by the
Bank of England in 2008 to under-report its borrowing cost. BBC is behind the story. Memos already
surfaced proving that the Bank of England did ask the other banks to rig the
LIBOR!
At one time,
calling the large multinational banks a “cartel” branded you as a conspiracy
theorist. Today the banking giants are being called that and worse, not just in
the major media but in court documents intended to prove the allegations as
facts. Charges include racketeering (organized crime under the U.S. Racketeer
Influenced and Corrupt Organizations Act or RICO), antitrust violations, wire
fraud, bid-rigging, and price-fixing. Damning charges have already been proven,
and major damages and penalties assessed. Conspiracy theory has become
established fact. I want to see
every single executive who participated in these financial crimes, and every
single politician who enabled then in the process, serving time in prison, and
NOT at a "Club Fed", thank you very much.
Returning
from work or vacation, homeowners across the U.S. are finding themselves locked
out of their houses, with their homes broken into and many of their belongings
stolen and destroyed. The culprits?
Bank contractors, hired to preserve abandoned properties. These contractors
often ignore signs of occupation, including furniture, maintained gardens and
turned on lights. It is illegal
for any bank representative to enter a property if they have not retaken it at
a foreclosure sale – especially if there are signs of occupation. Yet
contractors have been repeatedly ignoring these signs.
Christine
Lagarde and Nicolas Sarkozy were embroiled in a new corruption inquiry on
Sunday over the awarding of Legion d'Honneur for political favours.
On the other
side of the pond, the US economy is showing major signs of deterioration. The
jobs data, even after the BLS massages it, is awful. Secondly, 1Q12 GDP
estimates have been revised lower. We’ve also seen the two consecutive bad
Philly Fed surveys, including the fact that the average workweek has shortened
for two months now. We’re also seeing a drop in the Empire Manufacturing index. In addition
to this, we’ve seen the following companies cut their forecasts for 2012: Pall
(PLL), Nucor (NUE), Ryder Systems (R), Proctor & Gamble (PG), Cardinal
Health (CAH), Texas Instruments (TXN), Starbucks (SBUX), Autodesk (ADSK), FedEx
(FDX), Jabil Circuit (JBL), Bed, Bath & Beyond (BBBY), and Adobe Systems
(ADBE).
http://www.presstv.ir/detail/2012/07/22/252290/us-poverty-to-jump-highest-since-1960s/ Poverty in
the United States is projected to climb to the highest level in nearly half a
century as the recession threw millions of people out of work last year. According to
a survey conducted by The Associated Press, US poverty could reach a 46-year
high, with suburban families, underemployed workers, and children among the
hardest-hit people, the news agency reported on Sunday.
Italy's financial
outlook darkened on Monday amid warnings that 10 cities are at risk of
bankruptcy and schools may not be able to open in the autumn because of drastic
spending cuts
Russian
President Vladimir Putin just signed a treaty that makes Russia a World Trade
Organization member. Russia's accession to the WTO is the result of 18 years of
negotiations. Russian media
revealed that as part of the deal, Russia will have to lower its protective
tariff rate from 10% to 7.8%. This signals
the end of Russia's sovereignty in trade and economic matters. Foreign
investors will now be able to buy up Russia's industries, and there are already
plans to buy out Russia's telecommunications companies.
Countrywide
Financial was one of the subprime lenders at the heart of the financial crisis;
its predatory lending practices resulted in disgustingly large payouts for
executives while sticking low-income borrowers with explosive mortgages they
hadn’t a hope of paying back. The New York Times‘ Gretchen Morgenson called
Countrywide, “Exhibit A for the lax and, until recently, highly lucrative
lending that has turned a once-hot business ice cold and has touched off a
housing crisis of historic proportions.” Eileen Foster
was an investigator in charge of Fraud Risk Management at Countrywide when the
ticking time bomb of its bad loans detonated. The practices she discovered
shocked her and have also shocked those who’ve heard her story—including the
producers of “60 Minutes,” who asked her on the program last December to
discuss the lack of prosecutions of any of the bankers responsible for the
crisis. But instead of cleaning house and admitting guilt, Bank of
America—which purchased Countrywide as the financial crisis grew, in what the
Wall Street Journal calls “one of the worst deals ever struck in corporate
America”–drove Foster out and tried to discredit her findings.
With Valencia
bust, Spanish bonds at all-time record spreads to bunds, and yields at euro-era
record highs, Spain's access to public markets for more debt is as good as
closed. What is most concerning however, as FAZ reports, is that "the
money will last [only] until September", and "Spain has no 'Plan
B".
The central
banks’ central bank, the Bank of International Settlements or “BIS” – which is
the world’s most prestigious mainstream financial body – has slammed the policy
of America’s economic leaders. This is
especially dramatic given that the banks own the Federal Reserve, and that the
Federal Reserve and other central banks – in turn – own BIS. In other words,
BIS is criticizing one of its main owners. The bankers as a whole are trying to
point the finger of blame everywhere they can rather than admit that the model
of a private central bank issuing all of the public currency as a loan at
interest is a giant Ponzi scheme which has brought the banking system to the
edge of ruin.
Michael
Snyder, Contributor
Activist Post Where have we
seen this before? Bond yields soar above the 7 percent danger level. Check. The
stock market crashes to new lows. Check. Industrial activity plummets like a
rock and the economy contracts. Check. The unemployment rate skyrockets to more
than 20 percent. Check. The bursting of a massive real estate bubble pushes the
banking system to the brink of implosion. Check. Broke local governments beg
the broke national government for bailouts. Check. The international community
pressures the national government to implement deep austerity measures which
will slow down the economy even more and hordes of violent protesters take to
the streets. Check. All of this
happened in Greece, it is happening right now in Spain, and mark my words it
will eventually happen in the United States...
The political
and economical crisis of the EU might help a new European Hitler to emerge,
warns historian Geoffrey Roberts. He believes the current rise of
ultra-nationalism in Europe resembles that one of 1930s as history tends to
repeat itself. Of all the excuses given by the
globalist banking cartel as to why we should allow them to perpetuate their
corrupt predations upon the populace, this one has to rank as the lamest of
all! "Yes, we forced a ponzi-scheme banking system on you, but if you
don't let us get away with it, HITLER IS GONNA GETCHA!" Pathetic. Simply
pathetic. Europe
isn't going nationalist, they want to go regionalist! They want a restoration
of the national borders which protected them from financial fraud perpetrated
in foreign banking centers; fraud like Wall Street's Mortgage-Backed securities
fraud, and LIBOR, etc. etc. etc. etc. The
global banking cartel wants to force their model of a private central bank
issuing the public currency as a loan-at-interest on the world and the world
has had enough of it. That doesn't mean we are going back to the NAZIs, it just
means we want to be free.
A US Senate
probe has disclosed how lax controls at Europe's largest bank left it
vulnerable to being used to launder dirty money from around the world. The report
into HSBC, released ahead of a Senate hearing on Tuesday, says huge sums of
Mexican drug money almost certainly passed through the bank. Suspicious
funds from Syria, the Cayman Islands, Iran and Saudi Arabia also passed through
the bank. HSBC said it
expected to be held accountable for what went wrong.
The IMF
believes that advanced economy deficits will decline by about 0.75 percentage
points of GDP this year which 'strikes a compromise between restoring fiscal
sustainability and supporting growth". However, continued focus on nominal
deficit targets runs the risk of compelling excessive fiscal tightening if
growth weakens. In addition, there is a risk in the United States of political
gridlock that puts fiscal policy on autopilot and results in a sharp and sudden
decline in deficits—the “fiscal cliff.” What is more troubling is the
significant upward revision to all of the peripheral European nations (with
Greece now at 171% Debt/GDP in 2013 versus 160.9% forecast only 3 months ago).
Don’t be so
sure the housing market is on its way back to health. Despite the first monthly
increase in home prices in 7 months, as the Case-Shiller indexes showed on
Tuesday, there are still more than 10 million properties with underwater
mortgages, and a shadow inventory of 1.5 million, or four months supply.
Negative equity will continue to take its toll on consumption, while the shadow
inventory, worth about $246 billion according to CoreLogic, will constrict
lending and probably affect banks’ earnings.
Wealthy tax
evaders, aided by private banks have exploited loopholes in tax legislation and
stashed over $21 tn in offshore funds, says a report. The capital drained from
some developing countries since 1970 would be enough to pay off national debts.
The 1%
hide more than total annual economic output of the US and Japan combined. This
is also 7 to 32 times the $1 to $3 trillion estimated to end global poverty (here,
here).
Importantly, the 1% in US government have reneged
on their promise to end poverty since the 1990 World Summit for Children,
and even reject full support of microcredit to end poverty while earning a
profit.
Global
poverty kills a million children every month. Since the seven US banks created
the last 10,000 of their tax haven subsidiaries since 1991, more
human beings have died from preventable poverty than from all wars,
murders, and violent deaths of any kind in all human history. As you may know,
ending poverty reduces population growth rate in every historical case.
As
always, I suggest arrests
of obvious 1% leaders for obvious crimes centering in war, money, and
propaganda. This creates opening for obvious
economic solutions to benefit 100% of Earth’s inhabitants.
Goldman, which got $10 billion in taxpayer bailout
money amid the credit crisis in 2008, was paid $54 million to lead underwrite
or help sell $34 billion of the bonds and $1.7 million to serve as an adviser
on a separate $2.4 billion of Build America Bond sales, the bank told
Grassley’s office in a second communication dated March 9. Jill Gerber, a
Grassley spokeswoman, confirmed the content of the letters.
Despite the
White House’s efforts to keep a proposed free trade agreement concealed from
the public — and even Congress — an excerpt from the TPP leaked Wednesday
reveals that President Obama is prepared to bow to multinational corporations. "Bush
was better than Obama on this," Judit Rius of Doctors Without Borders Access
to Medicines Campaign tells HuffPo. "It's pathetic, but it is what it is.
The world's upside-down." “The majority
of Congress is being kept in the dark as to the substance of the TPP
negotiations, while representatives of U.S. corporations – like Halliburton,
Chevron, PHRMA, Comcast, and the Motion Picture Association of America – are
being consulted and made privy to details of the agreement,” said Senator Ron
Wyden (D-Oregon).
More than a
dozen protesters upset with US President Barack Obama’s inclusion of America in
the proposed Trans-Pacific Partnership trade deal were arrested at the White
House on Tuesday.
Kovacevich
talks about the Fed requiring banks to take bailout funds. The Fed and the
government needed this money to be loaned out to increase the money supply. By
giving member banks more money, the Fed wanted them to loan it out to the
public, which would create even more money. Kovacevich says the that regulators
simply failed to do their jobs - no new regulations were needed. TARP was
simply a coverup for regulators' corruption and negligence. Financiers profited
tremendously from the market collapse, a collapse that they knew was coming
because they saw the enormous leverage and risk lenders were taking.
Since April
2011, fuel surcharges by U.S. airlines have risen 53%, while fuel prices have
increased 24%, according to a study by Carson Wagonlit Travel.
Contagion. That’s the
best word to describe the European markets this morning, as first Italy, and
now Spain have announced short selling bans. Spain’s ban
applies to ALL STOCKS, as well as the OTC derivatives market, and will last 3
months at a minimum.
Cisco Systems was preparing to lay off about 1,300 workers
just a few months after the world’s largest maker of computer networking
equipment warned that growing economic uncertainty is making it tougher to
close deals. The cuts announced Monday represent about 2 percent of
Cisco System Inc.’s payroll of 65,000 workers.
Mr Samaras's
comments come two days before a team of Greece's debt inspectors arrive in
Athens to push for further austerity measures if the debt-laden country wants
to qualify for further rescue payments and avoid a chaotic default.
David Cameron
has given his strongest warning yet that the euro is doomed to fail as fears
grow that Greece is close to crashing out of the single currency. The Prime
Minister dismissed new French president Francois Hollande’s claim that Britain
was ‘indifferent’ to the fate of the eurozone, insisting it was essential for
our economy that the Continent recovers. ‘We want the
euro area to succeed,’ Mr Cameron said in an interview with the Daily Mail.
‘It’s 40 per cent of our exports. It’s vitally important these economies get
back to growth.
Thousands
gather in Tel Aviv for first social rally of summer, demonstrators hold up
signs calling for 'sane housing prices,' greater equality. More rallies held
nationwide. Dear
Israeli people. The bankers do not want affordable housing. If you could buy a
house and pay it off in just a few years, like a car, then you would be free of
the banks and of no more use as a slave. So, bankers work to make sure housing
costs so much you will work your entire life for that stack of printed paper
slips you need to borrow from them to buy that house. The interest on those
pretty printed pieces of paper from the bank is often more costly than the
actual home itself, and is passed onto the next "owner", making every
home a pyramid scheme from the point of th view of those bankers.
The European
Central Bank said it will temporarily stop lending to some Greek banks to limit
its risk as President Mario Draghi signaled the ECB won’t compromise on key
principles to keep Greece in the euro area. There
is no 11th marble. And more lending can't fix that!
The paper
proves that Goldman Sachs does naked short selling. They will sell and short
stocks they don't even have nor are able to get. In other words, just like the
fractional reserve banking of creating money out of thin air with key strokes.
Goldman Sachs pretended to own or had in their hands, stocks which they didn't
have. They would short the stocks and do trades on non-existent stocks. They
also did this to affect the stock price on the market. So they could make some
stocks Fail. They even use that word in the documents accidentally released.
Spain,
Europe's fifth-largest economy, has had doubts cast on the strength of its
banking sector thanks largely to the country's property crash. Its banks have lent billions of euros they might
never get back and this has made investors very nervous. On 18 May, credit ratings agency Moody's cut its
ratings for 16 Spanish banks, reflecting the heightened risk of them suffering
huge losses if property loans are not repaid. The Spanish
government has had to part-nationalise one of its banks and may have to bail
out more.
France’s
unemployment rate has risen to 10 percent, with millions of French citizens
looking for work as Europe’s economic crisis shows no sign of letting up.
According to in-house memos now circulating, the
DHS has issued orders to banks across America which announce to them that
"under the Patriot Act" the DHS has the absolute right to seize,
without any warrant whatsoever, any and all customer bank accounts, to make
"periodic and unannounced" visits to any bank to open and inspect the
contents of "selected safe deposit boxes." Further, the DHS "shall, at the discretion of
the agent supervising the search, remove, photograph or seize as evidence"
any of the following items "bar gold, gold coins ..." If people have their emergency money in a safe
deposit box or an account in a bank that closes, they will not be allowed into
the bank to get it out.
They can knock on the door and beg to get in but the sheriff’s department or
whoever is handling the closure will simply say “no” because they are just
following orders. In other words, when the manure hits
the ventilation system, the US Government will loot your bank accounts and
anything of value in your safety deposit boxes to save the bankers. FDR did
this in 1933 confiscating gold, and Bush/Obama did it confiscating private
homes in 2008-2012. Our
advice is to keep in the bank only that money needed to cover your checks and
keep the rest of your money and valuables at home. Invest in a safe that bolts
to the floor, and a shotgun.
Last weekend we advised SD readers that our
sources had informed us that JPMorgan’s derivatives losses sustained by their CIO
desk were actually $100 Billion, not the $2 Billion admitted by Jamie Dimon to
investors. Well, one
week later, the MSM (WSJ) is now reporting that JPM’s CIO has now lost $5
billion. Perhaps more
interesting, the WSJ states that Jamie Dimon personally approved the
delta-hedging of its interest rate swaps positions which has resulted in the
FUBAR derivatives losses for JPM.
The FBI has
confirmed they have launched a criminal investigation into JP Morgan Chase over
their recently announced $2 billion loss in 'synthetic' securities.
The damage to
the rest of Europe from Greece leaving the euro would be "somewhere
between catastrophic and Armageddon", the chief negotiator for the body
representing private sector holders of Greek bonds said on Wednesday.
The eurozone
storm showed no signs of clearing tonight as fears over Spain and Greece saw
£80 billion wiped from the value of London's leading shares index in just one
week.
Facing a
collapse in investor confidence and a decline in the rupee to a record low
against the dollar, India’s finance minister said Wednesday it was time for
“some austerity” — but not time to panic.
One of the
biggest risks to the world's financial health is the $1.2 quadrillion
derivatives market. It's complex, it's unregulated, and it ought to be of
concern to world leaders that its notional value is 20 times the size of the world economy.
But traders rule the roost -- and as much as risk managers and regulators might
want to limit that risk, they lack the power or knowledge to do so. A quadrillion is a big number: 1,000 times a
trillion. Ou un million de milliards! Yet according to one of the world's leading
derivatives experts, Paul Wilmott, who holds a doctorate in applied mathematics
from Oxford University (and whose speaking voice sounds eerily like John
Lennon's), $1.2 quadrillion is the so-called notional value of the worldwide
derivatives market. To put that in perspective, the world's annual gross
domestic product is between $50 trillion and $60 trillion.
How come we
hear everything that happens in Egypt but no news about what’s happening in
Iceland:
… In Iceland, the people has
made the government resign, the primary banks have been nationalized, it was
decided to not pay the debt that these created with Great Britain and Holland
due to their bad financial politics and a public assembly has been created to
rewrite the constitution. And all of
this in a peaceful way. A whole revolution against the powers that have created
the current global crisis. This is why there hasn’t been any publicity during
the last two years: What would happen if the rest of the EU citizens took this
as an example? What would happen if the US citizens took this as an example. What the Icelandic people did with
their odious debt is nothing less than absolutely brilliant, which is why the
corporate media dares not whisper a word about it, lest Americans
realise that such a completely peaceful revolution is absolutely possible here.
Venezuela's
National Assembly passed extraordinary new labor laws in support of workers on
April 30, 2012. In a time when workers have had their rights stripped away and
capitalist economies are collapsing throughout the United States and Europe,
the Venezuelan government has managed to keep its economy thriving and has
given the bounty to Venezuelan workers. We regard these new laws to be the most
progressive labor legislation in the world today. We thank Axis of Logic
Columnist, Arturo Rosales for his report and analysis.
De : CHOQ.FM L'Autre Monde
[mailto:choqfmlautremonde@free.fr] Envoyé : samedi 19 mai 2012 23:30 Objet : FLASH : LA VILLE DE FRANCFORT EN QUASI-ÉTAT DE SIÈGE DEPUIS
3 JOURS POUR PROTÉGER LA BCE DES MANIFESTANTS
=== FLASH : LA VILLE DE FRANCFORT EN QUASI-ÉTAT DE SIÈGE
DEPUIS 3 JOURS POUR PROTÉGER LA BCE DES MANIFESTANTS ===
Au cours d'une longue
conversation téléphonique que je viens d'avoir avec l'un des adhérents de
l'UPR, qui est un Français expatrié à Francfort, celui-ci m'a confirmé qu'en ce
19 mai après-midi, tout le centre ville est vide de voitures et occupé par des
dizaines et des dizaines de véhicules de police, ainsi que par des policiers à
cheval.
C'est aujourd'hui le 4ème
jour que les abords du siège de la Banque Centrale Europénne (BCE) est la cible
de manifestants du mouvement "BLOCKUPY", qui sont tenus à une large
distance du gratte-ciel de le BCE.
Environ 20.000 personnes
selon la police (et plus de 25.000 selon les organisateurs), défilent ce samedi
après-midi dans le calme dans le centre-ville de Francfort, la capitale
financière allemande pour protester contre les programmes d'austérité
européens.
Cette manifestation est la seule à avoir été autorisée par la municipalité
et la justice allemande dans le cadre d'un programme du "collectif
d'organisations anti-capitalistes" Blockupy Frankfurt initialement prévu
sur quatre jours, de mercredi à samedi.
INFORMATIONS EXCLUSIVES UPR
=====================
1°) Chose remarquable et
cachée par tous les médias, la BCE a demandé à tous ses employés de rester chez
eux et de ne pas venir travailler depuis 3 jours.
C'est du jamais vu depuis
que la BCE existe.
----------------------------
2°) Autre chose remarquable,
les autorités de la BCE ont proposé au Conseil des gouverneurs, qui devait se
réunir jeudi, de se réunir exceptionnellement dans les locaux de la Bundesbank,
situés plus loin de l'épicentre des manifestations.
Cette proposition a été
rejetée sèchement par les gouverneurs de plusieurs banques centrales nationales
d'autres pays (qui font partie de l'Eurosystème), qui y voyaient la preuve
d'une tutelle de plus en plus lourde de la Bundesbank sur la zone euro.
C'est à ce genre de petits
"détails" que l'on mesure le degré d'aversion croissante - sinon de
haine latente - que l'euro est en train de provoquer entre tous les États de la
zone.
QUELQUES PHOTOS CACHÉES PAR
LES MÉDIAS FRANÇAIS
====================================
L'accès à la BCE est rendu
impossible par des cordons de forces de l'ordre :
Voyage de M. Hollande dont
il n'est d'ailleurs strictement rien ressorti de concret.Sauf, bien entendu, de
bonnes paroles, comme je l'avais prévu.
I am not sure
why this took so long to get into the major papers considering he died on April
19th, 2012, and he was such a prominent figure but here's what I've found so
far. Most of the
obituaries are making him out as a musical philanthropic and miniature train
enthusiast. They say very little about his banking activities in Latin America
and his funding deep involvement in the CO2 caused Global Warming scam.
Edmund Leopold de Rothschild banker for Global Warming Scam
"After Edmund [Leopold] de Rothschild’s statement, without basis,
at the 4th World Wilderness Congress in 1987, that CO2 is the cause of a
non-existent global warming – and that combating it needs money (our money), he
founded the World Conservation Bank for this reason. In 1991 its name was
changed to The Global Environment Facility (GEF).
The purpose of this facility is to lend money to the poorest
countries, printed by the IMF out of thin air, and with the guarantee of our
governments. The facility takes wilderness areas with mineral riches as
security. The GEF money is then to flow back to our governments as
reimbursement for paid loans. I.e. We give away our tax money. For what?
When a country cannot repay loans to the GEF it must give up a
piece of its territory to the Rothschild banks (GEF, IMF, World Bank) – up to
30% of the Earth are meant. If land cannot be offered as collateral the
country must starve (Haiti, Argentina and others).
Rothschild´s stroke of genius was that he had his GEF smuggled
into the UN system at the Rio UN Summit in 1992 by his friend, Maurice Strong.
So now high-ranking ministerial officials from 179 countries are in the the
council of the bank – blessing Rothschild grabbing the world!"
In case you
forgot how quickly the euro area economy was deteriorating, here's a look at
the latest reading of composite PMI for the 17-country region. That index
fell to 46.7 this month, even worse than an earlier flash reading of 47.4. Perhaps most
concerning is that the effects of the European Central Bank's two three-year
long-term refinancing operations appears to already be fading, as business
activity rebounded slightly at the start of 2012 before declining sharply later
in the year. When
the Euro goes, it will take the US banks right down with it.
With regional
unemployment at 31%, businesses shut, and even the cherries rain-spoiled, gloom
is shrouding Jaraíz de la Vera Now, pay attention class;the US has admitted there are 82
million "invisible" unemployed in the US(only
they did not stay invisible as the government hoped because the alternative
media kept pointing them out). The US government admits to there being 12.5
million "visible" unemployed, which together with the invisible means
94.5 million Americans are available to work but do not have a job. Total US
population is 330 million. But 24% of those are young people not eligible to
work. And 13 percent are retired. So the total population of available workers
in the United States is 100% - (24% + 13%) = 63% of 330 million people, or 207
million workers. And with 94.5 million workers not working, the true jobless
rate in the US right now is 45%, not the 8% the media keeps propagandizing you
about.
Leaving out
big family names like Onassis and Mrs Kennedy, who live in another world
enirely, the shipping industry is the most discreet in the world, which means
you can keep secrets in there; it's a very ethical place. It's a place
where there's no cheating. Not customers, or anyone else in the industry
because everyone knows everyone else – they're sailors after all – and they
talk to each other.
"It is
not known under what circumstances these individuals have left their positions,
I make no judgement on that. I find the timing of so many resignations
extremely curious and a temporal marker in history of high significance. No one
should assume I make any judgement about the character of these people. I
frankly don't know their reputations except for a few rather famous ones.
The dollar
has lost 90 percent of its value since the early 1900s. This dramatic
devaluation has crushed anyone who kept money in cash, and it has hurt workers
when wages failed to keep up with inflation.
Simultaneous Global Printing Is Failing Miserably Mainstream
Keynesian economists argue that the failure of the European austerity measures
to pull Europe out of the doldrums proves that more stimulus is needed,
and that austerity is poison at this stage. Indeed, most
mainstream economists pretend that debt doesn’t exist … or believe that debt
for its own sake is good and necessary. But Martin
Weiss noted last month: Four of the
world’s largest central banks have gone absolutely berserk, running the money
printing presses like never before in history:
Source:
Chart lines — Pimco
Indeed, China
and India have been printing as well, as shown by the last 2 of these 2011 charts: The U.S. is
printing lots of money….. Source, The St. Louis Fed The Bank of
England is printing lots of money….. Source: The BoE The EU is
printing lots of money….
Source: The ECB Japan is
printing lots of money….. Source: The BoJ China is
printing lots of money….. Source: The People’s Bank of China India is
printing lots of money….. Source: Reserve Bank of
India Pimco CEO El-Erian
warned last month that central banks might
fail in their giant experiment to cure the world’s economic ills with paper
money. See this and this.
Global
Payments, the U.S.-based credit card processor company that experienced a
security breach affecting plastic issued from Visa and MasterCard, is about to
release more information about the attack. Last time, the firm said the
breached portion of its processing system was confined to North America and
that less than 1.5 million credit card numbers were stolen. The timeframe
during which Global Payments was hacked, however, has significantly grown. In
other words, the hack could have been much worse.
The Interior
Ministry has announced that it will close the borders between Spain and France,
due to serious fears of public order and domestic security issues, to coincide
with the European Central Bank summit in Barcelona. The
money-junkies are getting nervous. We
know about the scam of the11th Marble.
They
know we know!
Home prices
dropped in February in most major U.S. cities for a sixth straight month, a
sign that modest sales gains haven't been enough to boost prices. The Standard
& Poor's/Case-Shiller home-price index shows that prices dropped in
February from January in 16 of the 20 cities it tracks. The steepest
declines were in Atlanta, Chicago and Cleveland. Prices rose in Phoenix, San
Diego and Miami. They were unchanged in Dallas.
So, Obama imposes sanctions on Iran,
then when the resulting shortage drives oil prices up, it's all Iran's fault?
Are these White House staffers on drugs or something?
At The Milken
Institute conference yesterday, Hugh Hendry delivered his usual eloquent and
critical insights on the state of Europe. Beginning with the statement that
"All of Europe has defaulted", the canny-wee-fella (translation:
shrewd and cautious young chap) explained that "The political economy in
Europe is such that the politicians chose to default on their spending
obligations to their citizens in order to honor the pact with their financial
creditors and so as time goes on, the politicians are being rejected."
Home owners
who have had their houses taken away in foreclosure sometimes take their anger
out on the houses themselves. WTEV reports
on a foreclosed mansion in Jacksonville, Fla. in which the previous owners have
apparently ripped out the home's cabinets, light fixtures and appliances. With millions
of Americans still facing foreclosure, the phenomenon of homeowners ransacking
their houses on their way out may only continue. In Florida, one in every 336
housing units received a foreclosure filing in March, according to RealtyTrac. I
have to wonder if the next act by state governments will be prosecution and
trial of the people who do this, followed by extremely harsh prison sentences,
if vandalism against property by previous owners who were foreclosed upon can
be proven.
Big
industries in Ontario shifted nearly a quarter of a billion dollars off their
hydro bills in the first nine months of last year — onto the bills of
households and small businesses. And they may
have collected tens of millions in additional payments by “double dipping” on
overly generous conservation incentive programs. That’s the
conclusion of the province’s electricity market watchdog, the market
surveillance panel. And here is another example of
"privatizing the profit, socialising the debt going on right now. My hydro
rates are skyrocketing and we now know why: big corporations are shifting their
load of hydro debt on taxpayers while they reap huge profits.
The Vatican
is facing a deepening controversy over the burial 22 years ago of a notorious
crime boss, with reports emerging that the church accepted a one billion lire
(£407,000) payment from the mobster's widow to allow his interment in a
basilica.
Canada’s big
banks received billions in support from the federal government and the Bank of
Canada during the 2008-09 financial crisis, a report by the Canadian Centre for
Policy Alternatives says. “While these
funds were repaid in full, it is clear that the banks benefited enormously from
public financing when private funds were unavailable,” wrote David Macdonald,
author of the report released Monday. “In addition,
had the rapid and enormous deployment of public funds not been available, most,
if not all, Canadian banks would have encountered serious difficulty.” Dear
Canadians; they told us TARP was all paid back, too!
Apologists
for government bailouts push two main myths: That all of
the bailout funds have been repaid That the
bailouts helped the average American But the
official government overseer of the Tarp bailout program – the special
inspector general for TARP, Christy L. Romero – has debunked both myths. Today, Romero
wrote the following to Congress: After 3½ years,
the Troubled Asset Relief Program (“TARP”) continues to be an active and
significant part of the Government’s response to the financial crisis. It is a
widely held misconception that TARP will make a profit. The most recent cost
estimate for TARP is a loss of $60 billion. Taxpayers are still owed $118.5
billion (including $14 billion written off or otherwise lost).
To the
chagrin of consumer groups, the House gave overwhelming bipartisan approval
Monday to two bills easing requirements that President Barack Obama’s overhaul
of financial regulations impose on some exotic financial instruments blamed for
helping trigger the 2008 financial crisis. Lawmakers of
both parties said they were relaxing rules that would otherwise inhibit the
ability of companies to manage the risks of prices and investments, ultimately
reducing their profitability and job creation. Consumer groups said legislators
were bowing to the interests of their corporate and finance-world contributors
and taking steps that might prove harmful to the public.
As if the
'risk-less' dollar-swaps the Fed has extended to any and every major central
bank were not enough, William Dudley just unashamedly admitted that the Fed now
holds 'a very small amount of European Sovereign Debt'. Dudley,
testifying to a House panel, noted that he doesn't see more efforts by the Fed
to buffer the US from Europe's tempests and believes European banks are
deleveraging in an orderly manner. So not only is the US taxpayer bailing out
Europe via the IMF (as we noted here a week ago using Greece as an
intermediary) and the Fed is providing limitless USD swap lines but now we join
the ECB in monetizing European government bonds - something we warned might
happen back in December 2010. As for being a small amount - wasn't MF Global's
holding relatively small too? Unflipping
believable.
Brazil,
Russia, India, China and South Africa, collectively known as the BRICS nations,
are moving forward with their plan to unseat the US dollar from its throne as
the global trade currency and to replace it with a Chinese denominated
"super-sovereign" international currency. This
Geo-political game to establish global monetary dominance is by no means
limited to the attack on the US dollar. Instead this
is merely the first strike of a concerted campaign of worldwide economic
warfare that will soon follow which seeks to bring the United States and its
western allies to their knees.
The U.S.
dollar is being dropped all around the world this month for trade. The BRIC
nations (Brazil, Russia, India, China and South Africa) signed an agreement to
not trade in U.S. dollars anymore, but in their own currencies. They are even
working on creating their own bank for trading between each other and to handle
the currencies, besides lines of credit in the currencies. Considering
that Saudi Arabia and China have entered into an agreement to build a mega oil
refinery worth 8.5 Billion last week, who knows how long the dollar will remain
the "Petro dollar". Iran stopped trading oil for dollars on March
20th.
The BRICS
summit has wrapped up in India. Creating an alternative global lender and
stepping away from the dollar as a reserve currency were among their main
objectives.
The BRICS countries' leaders are preparing for their annual meeting. These countries make up 42
percent of the world's population and a quarter of its landmass. They are also
responsible for 20 percent of the Global GDP and own a whopping 75 percent of
the foreign reserve worldwide. In these tough times for world economics
these countries are trying to find a solution for the situation.
US exports to
China have crossed the USD 100 billion mark for the first time, touching a
record USD 103.9 billion last year. Growing
American exports to China will help boost the US economic recovery, analysts
said. With this
level of exports, China has emerged as the third most common destination for US
overseas shipments, just behind Canada and Mexico, US-China Business Council
said. US exports to
China have risen 542 per cent from 2000 to 2011, going from USD 16.2 billion to
a record USD 103.9 billion.
The US
electronics retail chain Best Buy on Thursday announced it would close 50
stores this year and lay off 400 corporate and support workers as part of a
plan to cut $800 million in costs and restructure its business.
Best Buy’s announcement follows last month’s announcement by the retail giant
Sears Holdings of plans to sell off 1,250 of its Sears and K-Mart stores in a
bid to raise $770 million, following a $2.4 billion quarterly loss.
On Friday, another major retailer, Home Depot, said it would lay off 225
workers over the next 18 months at its customer support and distribution center
in Baton Rouge, Louisiana.
Also on Friday, ATK Sporting Group, a maker of tactical gear and shooting
supplies, said it would scale back operations and lay off 325 employees in
Fenton, Missouri.
Eurozone finance ministers
have agreed to boost the EU's rescue fund to 800 billion euros, to help
countries like Spain recover from their crippling debt woes. Spain's financial
crisis has prompted the government to announce its biggest austerity measures
in over three decades. The country's vowed to cut 27 billion euros from its
budget this year. It comes after tens of thousands of protesters hit the
streets on Thursday, to fight against labor reforms.
I can’t
predict the future. I don’t know what the resignations mean. I don’t know if
these arrests and end of the criminal 1% is here. That said, I
can account for recent 1% criminal history that demands arrests for the murder
of millions, harm to billions, and looting of trillions of the 99%’s dollars: The most
damning legal violation are unlawful wars; in "emperor has no
clothes" obvious violation of the Kellogg-Briand Treaty and UN Charter. Gabriel at http://www.facebook.com/MassResignations
is tracking Insurance, Government and Healthcare Resignations.
450 RESIGNATIONS FROM WORLD BANKS, INVESTMENT HOUSES, MONEY FUNDS
I don't mind if you re-blog this listing. Save yourself the wear and tear
on your karma and do me the favor of including
http://americankabuki.blogspot.com in your reposting. Thanks to all who have
caught minor errors. Special thank to Gabriel at Facebook Global Mass
Resignations for some resignations I did not find in my searches.
Abreviations used: CEO = Chief Executive Officer CFO = Chief Financial Officer CIO = Chief Investment Officer COO = Chief Operating Officer EVP = Executive Vice President CRO = Chief Risk Officer INC = Incorporated (can be private held or publically traded
shares) PLC = Public Limited Company (publicly traded shares can be
listed or unlisted on stock market) LTD = Limited Company (privately held) LLC = American version of LTD, but can have a
shareholder/member that is an INC, often hybrids of both AG = German version of PLC AB = Swedish version of PLC SA = Society Anonymous in various latin languages - same as
PLC NV = Dutch version of PLC BV = Dutch version of LTD LP = Limited Partners (partnership with limited liability) REIT = Real Estate Investment Trust
The Federal
Reserve and its district banks said Tuesday it earned $77.4 billion last year,
down from $81.7 billion in 2010 but the second-highest level in the central
bank's history. The bumper earnings allowed the Fed to distribute $75.4 billion
to the U.S. Treasury, also the second-highest level ever. The earnings was
derived primarily from $83.6 billion in interest income on securities acquired
through open market operations, from Treasury securities, federal agency and
government-sponsored enterprise mortgage-backed securities, and GSE debt
securities. Can you imagine what that 77 billion
dollars would have done in circulation in the US, rather than as profit
to a private central bank to which charges the US government interest to borrow
from it?!?
L'affaire des Greenbacks de
JFK en fait c'est une rumeur qui a starté il y a longtemps, qui a été publiée
pour la première fois dans The Spotlight, avant d'être rétractée dans une
Erratum la semaine d'après, ce qui n'a pas empêché des chercheurs incompétents
comme Jim Marrs de citer ça comme source et de donner un grand souffle à cette
fausse théorie. C'est pas mal la popularité de l'oeuvre de Jim Marrs qui a
rendu cette fausse histoire si populaire dans les milieux alternatifs, toujours
prêts à sauter sur la nouvelle théorie du complot qui sonne bien et paraît être
une bonne explication.
Ironiquement, c'est Mike Piper, journaliste vétéran du journal The Spotlight
(devenu aujourd'hui American Free Press), qui est le seul à montrer que cette
rumeur a fait l'objet d'un erratum dans le journal The Spotlight alors que le livre
de Jim Marrs, celui qui a donné un boost incroyable à cette théorie, n'en tient
pas compte.
C'est un article publié récemment, qui se trouve depuis longtemps dans le livre
"Final Judgment", paru la première fois en 1994 (maintenant rendu à
la 7e édition).
Ci-dessus un billet des
États-Unis de 1966. Son existence prouve, au-delà de tout doute, que c'est un
pur mythe qu'aucun billet des États-Unis n'a été émis après l'assassinat de JFK
et réfute la théorie selon laquelle JFK a été tué parce qu'il aurait ordonné
que les Notes des États-Unis soient retirés de la circulation et que, à sa
mort, son successeur, Lyndon Johnson, aurait renversé l'ordre de JFK. Final Judgment
démontre que l'ordre de JFK n'avait rien à voir avec les billets des
États-Unis. Bien que la famille Kennedy se soit opposée à la Réserve fédérale
et visait, finalement, à contester ce monopole, le mythe des "Greenbacks
(billets verts) de JFK" a brouillé les pistes dans le débat sur le complot
de JFK et c'est d'ailleurs un mythe (dans lequel tant de personnes ont investi
tellement de pieuses pensées) qui refuse tout simplement de disparaître, malgré
les faits.
La légende selon laquelle John F. Kennedy aurait défié la Réserve fédérale et
les banquiers internationaux qui la contrôlent en émettant des billets des
Etats-Unis dans l'économie américaine en 1963 -- et l'aurait donc payé de sa
vie -- est un mythe qui ne veut pas disparaître. Même s'il est vrai que que des
billets américains sans charge d'intérêt ont été émis au cours de
l'administration JFK -- aucun doute là-dessus, il y a en fait beaucoup plus
derrière cette histoire.
Premièrement, le contexte: en 1994, le livre de cet auteur, Final Judgment
documentait un plan de la famille Kennedy en vue d'agir contre la Fed, tel que
décrit par le père de JFK, l'Ambassadeur Joe Kennedy, a cours d'une réunion
privée en 1957 entre l'ambassadeur et un de mes amis, homme d'affaires
international DeWest Hooker, un critique virulent de la Fed.
Lorsqu'ils discutaient des plans de la famille, Kennedy envisageait cela à long
terme, sachant qu'il serait impossible de détrôner la Fed du jour au lendemain.
C'est pourquoi l'objectif de la dynastie des Kennedy était de consolider leur
pouvoir pour ensuite se retourner contre l'élite mondiale. Les Kennedy étaient
assez astucieux pour savoir que JFK ne pouvait pas prendre de mesures sérieuses
contre la Fed au cours de son premier mandat en faisant face à une réélection difficile.
En dépit de ces révélations, immédiatement après la sortie de Final Jugement
cet auteur a reçu plusieurs lettres disant en substance ceci:
Pourquoi
n'annoncez-vous pas que JFK a émis un décret par lequel il a inséré de l'argent
sans intérêt (parfois appelé "billets verts") dans l'économie
américaine, contournant ainsi le monopole inconstitutionnel de la réserve
fédérale contrôlée par des banquiers internationaux? Ce faisant JFK a vraiment
taillé une encoche profonde dans l'armure de la Fed. C'est certainement la
principale raison pour laquelle il a été assassiné, mais vous ne mentionnez la
Fed qu'en passant. Même Jim Marrs mentionne cela dans son livre Crossfire.
Avec ces préoccupations en tête, nous répétons ici ce que dit Marrs pour ensuite
expliquer «l'histoire derrière l'histoire» de ce sur quoi Marrs avait
incorrectement écrit. Marrs a écrit:
Un
autre aspect souvent négligé de la tentative de Kennedy de réformer la société
américaine concerne l'argent. Kennedy a apparemment réalisé que par le retour à
la Constitution, qui stipule que seul le Congrès peut émettre la monnaie et
réglementer l'argent, l'énorme dette nationale pourrait être réduite en ne
payant aucun intérêt aux banquiers de la Réserve fédérale, qui impriment le
papier-monnaie [et] le prêtent au gouvernement à intérêt.
Il a fait son premier pas dans ce sens le 4 juin 1963,
en signant le décret 11110, qui a appelé à l'émission de 4,292,893,815 $ de
billets des États-Unis par l'intermédiaire du Trésor des États-Unis plutôt que
par le système traditionnel de la Réserve fédérale. Le même jour, Kennedy a
signé un projet de loi changeant les provisions des billets de un et deux
dollars de l'argent à l'or, renforçant ainsi le dollar américain affaibli. . .
Un certain nombre de "projets de loi Kennedy" ont effectivement été
délivrés -- l'auteur a un billet de cinq dollars en sa possession avec comme
en-tête "Billet des États-Unis" -- mais ils ont été rapidement été
retirés après la mort de Kennedy.
Les lecteurs attentifs constaterons que Marrs a cité le numéro du 31 octobre
1988 du respecté journal populiste, The Spotlight, comme la source de ses
données.
Toutefois, ce que Marrs ne ignore apparemment, c'est que dans le numéro
suivant, notre journal a publié une correction, expliquant qu'un employé
subalterne avait trouvé cet article dans un autre bulletin d'information -- la
rumeur circulant dans la presse populiste depuis des années -- et l'avait
ensuite glissé dans une colonne présentant un assortiment de nouvelles brèves. Pourtant,
comme notre rédacteur en chef l'a indiqué, cette histoire a été étudiée et
prouvée fausse.
Mais Marrs a raté la correction et a cité l'histoire originale dans son
best seller du New York Times et, en conséquence, des milliers -- peut-être des
millions -- l'ont accepté comme un fait, et Marrs a été maintes fois cité par
d'autres auteurs. Maintenant, avec Internet et les émissions de radio
alternative, cette fausse histoire a littéralement pris vie. Le personnel du
Spotlight a mené une enquête sur la légende et a constaté les faits suivants:
La
question était de savoir si le décret (EO) 11110 -- signé par JFK le 4 juin
1963 et censément abrogé par LBJ quelques heures de l'assassinat de JFK a
approuvé plus de 4 milliards de dollars de billets des États-Unis, délivrés
directement par le Trésor, à la place des billets de la Réserve fédérale qui
rapportent des intérêts aux banques de la Réserve fédérale.
En fait, EO 11110 concernait l'octroi au secrétaire du
Trésor du pouvoir d'édicter des règles et règlements relatifs à la compétence
du secrétaire d'agir sans l'approbation du président sur les ventes de lingots
d'argent. En tant que président, JFK a révoqué ces deux éléments avec EO 11110.
Qui plus est, ce fut l'administration Reagan -- et non
pas LBJ -- qui a finalement abrogé EO 11110. Et ce EO concernait des
certificats d'argent -- pas des billets verts -- quand Reagan a signé EO 12608,
qui a révoqué plusieurs décrets dépassés, y compris celui dont il est ici
question. Je le répète, l'émission de billets US n'était même pas l'objet du EO
11110 de JFK.
En outre -- et cala est très important -- les prétendus
"billets verts de JFK" ont été émis conformément à la très ancienne
législation fédérale exigeant qu'un certain nombre de billets US soient
toujours en circulation par le Trésor. Cela n'avait rien à voir avec un
quelconque décret (ordre exécutif) ou secret mesure particulière de la part de
JFK.
En d'autres termes, les "billets verts de
JFK" émis en 1963 seraient entrés en circulation de toute manière, peu
importe qui était dans la Maison Blanche à ce moment-là.
Le fait est qu'une loi du Congrès qui a été adoptée le
31 mai 1878 déclarait que le Trésor américain est tenu de conserver 322 539 016
$ de billets américains en circulation à tout moment.
Ainsi,
l'émission des billets US de JFK a été fait en vertu d'une loi existant depuis
longtemps dans les livres.
Ceux qui citent un décret de JFK, qui fait plutôt référence à tout autre chose,
font une erreur, et rendent un mauvais service à des chercheurs sérieux. Un dernier point: dans la dernière édition de Final Judgment, on trouve
une illustration d'un billet US de 1966. Il est authentique, en la possession
d'un critique vétéran de la Fed. Les négociants en devises américaines vendent
fréquemment des billets US de l'ère post-JFK. Ils peuvent vérifier l'authenticité de ces billets des États-Unis. Le
fait que ce billet des États-Unis de 1966 existe est la preuve que c'est un
mythe qu'aucun billet des États-Unis n'a été émis après 1963, que LBJ a retiré
les billets US de la circulation au moment d'assumer la présidence après la
mort de JFK.
Page
15, AMERICAN
FREE PRESS * December 29, 2008 * Issue 52 AFP ON THE
"PAY-TO-PLAY" SCANDAL
Shown
above is a 1966 United States Note. Its existence proves, beyond question,
that it is an absolute myth that no U.S. Notes were issued after the JFK
assassination and refutes the theory that JFK was killed because he ordered
U.S. Notes taken out of circulation and that, upon his death, his successor,
Lyndon Johnson, reversed JFK's order. Final Judgment demonstrates that JFK's order had nothing
to do with U.S. Notes whatsoever. Although the Kennedy family did oppose the
Federal Reserve and ultimately intended to challenge that monopoly, the myth
about “JFK's Greenbacks” has muddied the waters in the debate over the JFK
conspiracy and it is a myth (in which so many have vested so much wishful
thinking) that simply refuses to go away, the facts notwithstanding.
Hard Facts Refute
`JFK Greenback' Myth
By Michael Collins Piper
.The legend that John F. Kennedy defied the
Federal Reserve and the international bankers who control it by issuing U.S.
Notes into the American economy in 1963—and thus paid with his life—is a myth
that won’t go away. Although it’s true that non-interest bearing U.S. Notes
were issued during the JFK administration—no question about it— but there’s
much more to the story. First, some background: in 1994 this author’s
book, Final Judgment documented—for the first time—a Kennedy
family plan to move against the Fed, outlined by JFK’s father, Ambassador Joe
Kennedy, in a private meeting in 1957 between the ambassador and a friend of
mine, international businessman DeWest Hooker, an outspoken critic of the Fed. When discussing the family’s plans, Kennedy
was talking long term, knowing it would be impossible to dethrone the Fed
overnight. That’s why the goal of the Kennedy dynasty was to consolidate their
power and then move against the global elite. The Kennedys were astute enough
to know that JFK couldn’t make any serious moves against the Fed during his
first term while facing a tough reelection. Despite these revelations, immediately after
the release of Final Judgment this author received multiple letters
saying essentially this:
Why don’t you report that JFK issued an
executive order that inserted interest-free money (sometimes called
“greenbacks”) into the American economy, thereby circumventing the
unconstitutional, international banker-controlled Federal Reserve money
monopoly? By doing so JFK put a real chink in the Fed’s armor. This is
certainly the primary reason he was assassinated, but you only mention the Fed
in passing. Even Jim Marrs mentions this in his book Crossfire.
With these concerns in mind, we repeat here
what Marrs said and then explain the “story behind the story” of what Marrs had
incorrectly written. Marrs wrote:
Another overlooked aspect of Kennedy’s
attempt to reform American society involves money. Kennedy apparently reasoned
that by returning to the Constitution, which states that only Congress shall
coin and regulate money, the soaring national debt could be reduced by not
paying interest to the bankers of the Federal Reserve System, who print paper
money [and] then loan it to the government at interest. He moved in this area on June 4, 1963, by
signing executive order 11,110 which called for the issuance of $4,292,893,815
in United States Notes through the U.S. Treasury rather than the traditional
Federal Reserve System. That same day, Kennedy signed a bill changing the
backing of one-and two-dollar bills from silver to gold, adding strength to the
weakened U.S. currency . . . A number of “Kennedy bills” were indeed issued—the
author has a five-dollar bill in his possession with the heading “United States
Note”—but were quickly withdrawn after Kennedy’s death.
Careful readers would find that Marrs cited
the Oct. 31, 1988 issue of the respected populist newspaper, The Spotlight,
as the source of his data. However, what Marrs apparently didn’t know
was that in its next issue, our newspaper published a correction, explaining
that a junior staffer had found this item in another newsletter—the rumor had
been circulating in the populist press for years—and slipped it into a column
containing an assortment of brief news notes. Yet, as our editor indicated,
this item had been investigated and proven erroneous. But Marrs missed the correction and cited the
original story in his New York Times best-seller and as a consequence,
thousands—perhaps millions—accepted it as fact, and Marrs has been repeatedly
cited by others. Now, with the Internet and alternative talk radio, this false
story has taken on a life of its own. The Spotlight staff conducted an
inquiry into the legend and found these facts:
At issue was whether executive order (EO)
11,110—signed by JFK on June 4, 1963 and supposedly repealed by LBJ within
hours of JFK’s death—approved more than $4 billion in U.S. Notes, issued
directly by the treasury, in place of Federal Reserve Notes which earn interest
for the Federal Reserve banks. In fact, EO 11,110 dealt with granting the
secretary of the treasury the authority to issue rules and regulations
pertaining to freeing the secretary to act without presidential approval on
silver bullion sales. As president, JFK revoked both of these with EO 11,110. What’s more, it was the Reagan
administration— not LBJ—that finally repealed EO 1,110. And this EO dealt with
silver certificates—not greenbacks— when Reagan signed EO 12,608, which revoked
several outdated executive orders, including the one in question. To repeat,
the issuance of United States Notes was not even the subject of JFK’s EO
11,110. In addition—and this is important—the
purported “JFK greenbacks” were issued pursuant to longstanding federal
legislation mandating that a certain number of U.S. Notes always be in
circulation by the Treasury. It had nothing to do with any executive order or
secret special measure by JFK. In other words, the “JFK Greenbacks” issued
in 1963 would have gone into circulation no matter who was in theWhite House. The fact is an act of Congress passed on May
31, 1878 declared that the U.S. Treasury is required to keep $322,539,016 in
U.S. Notes in circulation at all times.
So the issuance of U.S. Notes by JFK was done
in pursuance of a law long on the books. Those who cite an executive order by JFK
that, in fact, refers to something else altogether, are making a mistake, doing
a disservice to serious research. One last item: illustrated in the latest
edition of Final Judgment is a 1966 United States Note. It is
genuine, in the possession of a veteran critic of the Fed. Dealers in U.S.
currency frequently sell post-JFK era U.S. Notes. They can verify the authenticity of these
U.S. Notes. The fact this 1966 U.S. Note exists is proof that it is a myth no
U.S. Notes were issued after 1963, that LBJ withdrew U.S. Notes from
circulation upon assuming the presidency after the death of JFK.
I have two
videos today. One is from the Jewish actor Richard Belzer and the second is
from Michael Collins Piper who wrote Confessions of an Anti-Semite. First up is a
short video from Richard Belzer who says why the bankers killed Kennedy. What Belzer
did not say was that JFK was killed on the 53rd anniversary of the first meeting
to create the Federal Reserve as a message to us all. Bankers have the right to
kill the President of the United States and so they can kill you too. The
President, the Attorney General and several Senators have all said the recent
passage of the NDAA enshrines this Banker Arrogance into American law. My regular
readers will remember from my previous article the two other reasons for
killing the President. Israel wanted nuclear weapons which JFK opposed. And
secondly to set up a Jewish New World Order America would have to be involved
in a lot of losing wars over a very long period of time.so Americans could be
reduced to Debt Slavery and be easily controlled. Killing Kennedy also meant
America would go into the Vietnam war and take One Giant Step towards
Bankruptcy. Please remember that it was during that war that Nixon took America
off the Gold Exchange Standard in 1971. Henry Kissinger put the whole on
the Petrodollar standard with the Arab-Israeli war of 1973 and the all so
important Saudi oil boycott. I also said
Israel killed Martin Luther King so America would never have an effective
anti-war movement. I did not shy away from controversy when I said Israel has
been blowing up buildings with Americans inside. I cited 911 and the 4-19-1995
Oklahoma City federal building bombing. I did neglect to mention in that
article that the US gave North Korea to Stalin after WW II so America could
lose a lot of men and treasure in the Korean war. The last
video of the day is from Michael Collins Piper who ties all of the trendy
theories about who killed JFK into one box labeled Mossad.
What Belzer
did not say was that JFK was killed on the 53rd anniversary of the first
meeting to create the Federal Reserve as a message to us all. Bankers have the
right to kill the President of the United States and so they can kill you too.
The President, the Attorney General and several Senators have all said the
recent passage of the NDAA enshrines this Banker Arrogance into American law. My regular
readers will remember from my previous article the two other reasons for
killing the President. Israel wanted nuclear weapons which JFK opposed. And
secondly to set up a Jewish New World Order America would have to be involved
in a lot of losing wars over a very long period of time.so Americans could be
reduced to Debt Slavery and be easily controlled. Killing Kennedy also meant
America would go into the Vietnam war and take One Giant Step towards
Bankruptcy. Please remember that it was during that war that Nixon took America
off the Gold Exchange Standard in 1971. Henry Kissinger put the whole on
the Petrodollar standard with the Arab-Israeli war of 1973 and the all so
important Saudi oil boycott.
The last video of the day is from Michael Collins Piper who ties all
of the trendy theories about who killed JFK into one box labeled Mossad.
A leading
US-based energy consulting firm says oil price may hit $240 a barrel and
economic growth may fall by over 25 percent if Iran closes the Strait of Hormuz
in reaction to the Western sanctions. Analysts at
IHS Global Insight also told reporters that Iran can easily close the strategic
strait and disrupt global oil supplies for up to three months by laying mines
that the US and its allies would have to find and remove, USA Today reported...
It's the
political cure-all for high gas prices: Drill here, drill now. But more U.S.
drilling has not changed how deeply the gas pump drills into your wallet, math
and history show. A statistical
analysis of 36 years of monthly, inflation-adjusted gasoline prices and U.S.
domestic oil production by The Associated Press shows no statistical
correlation between how much oil comes out of U.S. wells and the price at the
pump. The
money-junkies charge whatever they think they can get away with!
The Obama
administration wants China, India and 10 other nations to present specific
plans of how they will curtail Iranian (OPCRIRAN) oil imports, saying past cuts
aren’t enough to win them an exclusion from new U.S. sanctions. While China
and India, the two biggest buyers of Iran’s crude, have made cuts in recent
months and years, they were not granted exemptions. The new
sanctions law, enacted Dec. 31, doesn’t define what counts as the “significant
reduction” needed to qualify for an exemption from penalties. U.S. officials
say they have not quantified it because there is no rule of thumb or percentage
of cuts that applies to all cases. Each country has different energy needs, and
will be reviewed on a case-by-case basis, the officials said. Being outside the US banking system
won't be a problem for India or China, which are perfectly happy to pay Iran
for its oil in gold or other commodities. The US government may well have shot
itself in the foot with this one, and the US dollar may well soon
be...irrelevant.
A Pakistani
minister says trade levels with Iran have increased over the past few years
despite US sanctions imposed against the Islamic Republic over its nuclear
energy program. "You
don't understand. When we here in the United States tell you in Pakistan not to
do business with Iran, you are supposed to not do business in Iran, got it? We
say, you do, understand? Hello? Hello? Did this phone go dead?"
-- Official White Horse Souse
http://www.presstv.ir/detail/232439.html Recent data
released by the Joint Organization Data Initiative (JODI) shows that Iranian
crude export has increased in January despite sanctions imposed against the
country’s oil sector.
The United
States says it has exempted 11 nations including 10 European Union members and
Japan from tough new sanctions on Iran as they have reduced oil purchase from
Tehran. US Secretary
of State Hillary Clinton said in a statement on Tuesday that the exemption
covers financial institutions from 11 nations - Belgium, Britain, the Czech
Republic, France, Germany, Greece, Italy, Japan, the Netherlands, Poland and
Spain, AFP reported. "The
actions taken by these countries were not easy…. They had to rethink their
energy needs at a critical time for the world economy and quickly begin to find
alternatives to Iranian oil, which many had been reliant on for their energy
needs," she added.
The
middle-class and pensioners are the first pay the price for economic recovery.
The so called ‘granny tax’ will cost 4.4 million pensioners about 3.5 billion
pounds over the next five years with every retiree paying as much as £259 more
income tax than they otherwise would have. Critics have already called the
budget pro-rich, with top earners benefiting from lower taxes, and the
middle-class struggling from rising prices and taxes.
David Cameron
will clear the way for a multibillion-pound semi-privatisation of trunk roads
and motorways as he announces plans to allow sovereign wealth funds from
countries such as China to lease roads in England. Just 48 hours
before the budget, the prime minister will give a speech calling for radical
action to improve Britain's infrastructure, which is falling behind those of
key competitors in Europe.
When we look
at broad measures of jobs and population, then the beginning of 2012 was one of
the worst months in US history, with a total of 2.3 million people losing jobs
or leaving the workforce in a single month. Yet, the official unemployment rate
showed a decline from 8.5% to 8.3% in January - and was such cheering news that
it set off a stock rally. How can there
be such a stark contrast between the cheerful surface and an underlying reality
that is getting worse?
In what
Riyadh calls “the largest expansion by any oil company in the world”, Sinopec’s
deal on Saturday with Saudi oil giant Aramco will allow a major oil refinery to
become operational in the Red Sea port of Yanbu by 2014. The $8.5
billion joint venture, which covers an area of about 5.2 million square meters,
is already under construction. It will process 400,000 barrels of heavy crude
oil per day. Aramco will hold a 62.5 percent stake in the plant while Sinopec
will own the remaining 37.5 percent. At a time
when the U.S. is actually losing refining capacity, this is a stunning
development. Essentially,
China is running circles around the United States when it comes to locking up
strategic oil supplies worldwide. Although
I could never imagine living in China (too ornery and question-asking prone to
survive there very long),the one thing I appreciate about the way in which the
Chinese government does things, is how it secures its energy needs
without firing a single shot.
The irony is
rich indeed. For the past year, the Saudi rulers have done their utmost to
crush the slightest dissent in their country, while at the same time they have
backed Western interference, aggression and regime change in Libya and Syria –
under the guise, wait for it, of advocating democratic freedom and human
rights. Despite Saudi
Arabia’s vast oil wealth and official GDP per capita, unemployment and poverty
are rampant. As with the other Gulf Arab countries, Saudi Arabia’s rulers rely
on a slave labour economy recruited from South Asia and Africa. This means that
many young Saudis have to endure a life of unemployment. But what happens if the
collapse of the House of Saud happens right before the US and Israel are about
to attack Iran?!? That's
a scenario no one in the bowels of power in DC or Tel Aviv want to even
consider. But
given the fragile state of things within Saudi Arabia, they had darned
well better.
I have been
seeing reports lately that an unusually large number of top level banking and
finance executives worldwide have been resigning their positions. The American
Kabuki website features a report titled, 320 RESIGNATIONS FROM WORLD BANKS,
INVESTMENT HOUSES, MONEY FUNDS, and a Japanese website has posted some amazing
graphs of resignations by region, by country, and by company. Now, today,
the New York Times is reporting that, “Greg Smith is resigning today as a
Goldman Sachs executive director and head of the firm’s United States equity
derivatives business in Europe, the Middle East and Africa.”
Researchers
planning a system to completely computerize stock market trading uncovered
18,520 instances of stock market manipulation between 2006 and 2011.
While
economists say the Great Recession of 2007 ended and we have entered into a
second recession an objective analysis reveals the recession never ended and we
are in fact in a depression.
Britain's
austerity measures - massive cuts in social services coupled with sharply
increased taxes - is robbery of the masses for millionaires and corrupt
bankers. Outage is
growing in the UK over the latest budget that which enacts tough austerity
measures that will have a dramatic impact on the quality of life of lower and
middle-income households. Amidst the
barrage of criticism is several reports which show the British lawmakers
themselves stand to benefit from the budget deal which lowers the tax burden on
the nation's wealthiest while increasing the burden on the rest of the
population.
Demonstrations
were held on Thursday in 38 cities and towns across Portugal, including the
capital city of Lisbon, Oporto - the second largest city after Lisbon -- and
Coimbra, AFP reported. In Lisbon,
police resorted to baton charge and arrests to disperse the protesters. At least one
demonstrator was arrested in Oporto as protesters expressed outrage at Prime
Minister Pedro Passos Coelho during a visit to the northern city's university.
Deutsche
Bank, a German lender, has sold the Fed more than $290 billion worth of
mortgage securities, Fed data through July shows. Credit Suisse, a Swiss bank,
sold the Fed more than $287 billion in mortgage bonds. The data had
previously been secret. It was released Wednesday per the recently-enacted law
overhauling the federal financial regulation. The Fed, ferociously backed by
the Obama administration, fought lawmakers' desire for full disclosure
throughout the financial reform debate.
As
detailed in "Bankers
Gone Wild", mortgages were cranked out by
unscrupulous mortgage brokers, then bundled together into mortgage securities,
which were in turn re-sold to investors as triple-A investments, even though
the bundles included sub-prime mortgages already defaulting as US jobs were
shipped overseas. These
mortgage-backed securities are a Wall Street invention! And at first they
appeared to be immensely profitable, so not only were US financial
corporations, investment houses, and pension funds buying them, but so too were
non financial corporations and major foreign banks including Deutsche Bank and
Credit Suisse. But
those early profits were a fiction, and we now know that many of the sellers of
mortgage backed securities were engaging in Ponzi scheme activity, using
proceeds from sales of mortgage backed securities to pay "earnings"
to earlier investors, while
the same SEC that had turned a blind eye to Bernie Madoff's $65 billion swindle
looked the other way! Worse,
we now know that individual mortgages were pledged as collateral to multiple
security bundles, which is illegal! This is briefly mentioned at 3:48 in the
next video. The
criminal fraud even went further than that! In the case of Countrywide (now part of Bank of America) the actual
titles were never really transferred, leaving the investment bundles entirely
unsecured! What
appears to have happened is that the European banks realized that the American
investment firms selling those mortgage-backed securities were engaging in
fraud! Greenspan has admitted to such. As
the banks of Europe began to feel the major losses from the fraud, they turned
to their local governments for financial assistance. In turn, those governments
were forced to apply for loans from the International Monetary Fund, plunging
their people deeper into debt, and the governments under the control of the
private bankers! Indeed one must wonder if this multinational financial
fraud had as its ultimate objective the forcing of the entire western world
under the control of a giant private bank!.
Obviously,
the people of Europe are refusing to be chained to a global bank and seem far
more worried about their freedoms than their American counterparts. Yet a quick
Google search shows the media encouraging the nations hit with this massive
financial fraud to apply to the IMF for more loans, never mentioning that in
their indebtedness lies the end of their national sovereignty! Ultimately
the European banks are never going to sit still for fraud, even from Wall
Street, and even from the USA! In order to reduce their losses and avoid more
IMF entanglements, the European banks demanded a refund on those fraudulent
investment packages. No doubt the Wall Street mortgage fraudsters refused,
suggesting that the bankers of Europe dump their losses on their populations
just as the American banks were being forced to do. That some European banks
did so explains why so many European nations are in financial trouble. However,
the larger European banks may have decided to "get tough" with the
Americans, and this may explain the mysterious electronic run on the US financial
system in February 2009, which almost crashed the US economy. Strangely, the
American people were never informed who had initiated the financial transfers,
even though obviously this information is recorded in the transactions on the
computer systems. This
"attack" may have been a warning from the European main banks to the
US to make good on the bad investments, or risk full public exposure for the
mortgage backed securities fraud! Soon
after, we learned that the Federal Reserve was handing out trillions and
trillions of dollars, loans which the American people are expected to repay,
only the Federal Reserve refused to say who was getting the money, and even
implied that exposure of the recipients of these trillions of dollars might
pose a threat to the US economy. Now, nearly two years later, we find out that
the Federal Reserve was buying back the mortgage-backed securities from
European banks including Deutsche Bank and Credit Suiss. The reason this was
kept secret was that the American people were being told that all these
"bailouts" would be repaid, yet common sense tells us that profit
cannot be made from an exposed fraud! The Fed could not admit to owning all
those mortage-backed securities without being forced to answer the question of
just exactly why they were not producing any earnings, with the usual "it
was all the borrowers' fault" excuses wearing thin even then! As cash left
the nations financial system to cover the repurchase of the fraudulent mortgage
backed securities, banks found their balance sheets slipping into the red. The
banks were being driven into insolvency making good on the bad paper and this
is what triggered the epidemic of fraudulent foreclosures. Banks needed real
assets on their balance sheets as quickly as they could to get their balance in
the black and their banks out of insolvency. So shortcuts were taken which
became known as "foreclosuregate". For some banks, it was too late.
Hundreds of banks either dragged down by the fraudulent mortgage securities or
made insolvent buying back the bad paper, have been shut down. For other major
banks and financial institutions, the tactic worked and they stayed afloat, for
which making millions of Americans homeless seemed a small price to pay! Indeed
one might explain the hitherto unexplained reluctance by the Federal Government
to stem the offshoring of American jobs as a deliberate policy of setting up
Americans to lose their homes in order to preserve the capital structure of the
banks! In
other words, the American people were looted to make good on the fraud
perpetrated by Wall Street not only against American financial institutions,
but bankers in the Eurozone as well. The
Wall Street Fraudsters should have gone to jail. But they walk free and clear,
saved from the FDIC and prison, heading into a wonderful holiday with
record-setting bonuses to spend while ordinary Americans have been made
jobless, homeless, and hungry to keep the criminals out of prison. The
Mortgage Backed Securities fraud is the biggest fraud in the history of the
United States, and as today's revelations make clear, we still do not know the
full scale of the financial rape this nation has suffered.
This past week, World Bank President Robert
Zoellick made his organization’s intentions for oceanic regimentation known, at
least in a candy coated way, at the Economist World Oceans Summit in Singapore.
(Source)
Over the last several years, World Bank has seen fit to insinuate itself into
the environmental movement as a “bastion” of green ideology. In reality, World
Bank has long used the threats of environmental destabilization (some of them
real, some of them fake) as tools for the centralization of resources into the
hands of mega-corporations. In fact, if one was to attempt to sum up exactly
what it is that World Bank actually does in a single phrase, it would probably
be “resource domination”. This domination is achieved through the strict
lending guidelines that sovereign countries have to commit to in order to
attain financing from the supranational entity.
Like a greasy loan shark working for a
hardboiled mob cartel, World Bank’s M.O. is to lend large capital packages
(made with money or credit created out of thin air) which the target country
and its government obviously cannot afford to pay back. These loans often
stipulate that the country relinquish control of its natural resources, the
true wealth of the nation, over to international corporate bodies for
“management”. Through this process, World Bank removes competition from a
market and hands designated companies (globalist front-companies) the keys to
the kingdom.
Environmental manipulation has been used in the past by World Bank as a cover
for resource piracy. Global corporations including Enron, Bechtel, GM, and
Monsanto from the late 90’s onward have been handed coveted water rights to
entire communities and nations under the guise of managing “water scarcity”.
This control of the water supply has extended even to rainwater collection.
World Bank’s argument in the case of water privatization was that monetizing
the resource would create “incentives” for populations to conserve water. That
is to say, the higher they could increase the cost of water, the more coveted
it would become, and the more careful people would be when using it. This
feudalistic idea was expressed clearly in a World Water Council (founded with
the help of the Vice President of World Bank) document entitled “The Long Term
Vision For Water, Life, And Environment”:
In 1998 the World Water Forum expounded a
need for control and regulation over the planet’s water supply. This meeting
was packed with top multinational corporations and commissioned by a viper’s
nest of global elites, including:
-Dr Ismali Serageldin (Commission Chair), Vice President, World Bank, and Chair
of Global Water Partnership
-Margaret Catley-Carlson, President, Population Council
-Gordon Conway, President, The Rockefeller Foundation
-Mohamed T. El-Ashry, Chair and CEO of the Global Environment Facility
-Howard Hjort, former Deputy Director, FAO
-Enriquo Iglesias, President, Inter-American Development Bank
-Yolanda Kababadse, President, World Conservation Union
-Jessica Mathews, President, Carnegie Endowment for International Peace, USA
-Robert S. McNamara, Co-Chair, Global Coalition for Africa
-Maurice Strong, Chair, Earth Council, member of Commission on Global
Governance, and a chief adviser in charge of the UN reform process
-Wilfred Thalwitz, former Senior VP, World Bank
-Jerome Mondo, Chair of the Supervisory Board, Suez Lyonnaise des Eaux
In March of 2000, the forum made the following statement:
“Water is an economic good and its economic value should be recognized in the
allocation of scarce water resources to competing uses. While this should not
prevent people from meeting their basic needs for water services at affordable
prices, the price for water must be set at a level that encourages conservation
and wise use...”
This methodology of artificially raising prices through the issuance of securities
to enforce a particular environmentalist ideal, in the end, has NOTHING to do
with protecting the environment. Essentially, it creates the derivitization of
natural resources that is the calling card of globalized tyranny. Cap and Trade
programs were designed to monetize air usage. Energy derivatives were used by
Enron to allow easier manipulation of electric and oil prices. Water
privatization was designed to corporatize a free flowing resource and create
artificial scarcity. And now, World Bank wants to apply the same con game to
one of the last economic commons; the ocean. The only beneficiaries in these
schemes have always been large conglomerates, along with a smattering of stock
investors who revel in the idea of erecting entire markets out of absolutely
imaginary products with no real inherent value.
As with water privatization, the flood of massive bureaucracy in the guise of
corporate management over oceanic usage will only create a mind boggling maze
of red tape that will thwart all business interests except the largest. This is
entirely deliberate.
Not only does it cause prices to rise to
levels beyond what the impoverished (a global majority) can pay for a
commodity, but it also squeezes out small business owners whose only advantage
was the level playing field of an open resource. On the oceans of World Bank, a
small fishing outfit will have no chance to make a living, because the permit
process, new taxes, and new legal requirements, will empty their bank accounts
before they ever get started, leaving only the big boys to ravage the seas at
will, and legally, because they will have paid the exorbitant fees for the
right to do so.
There is also a very good reason why Zoellick at the World Oceans Summit
mentioned fishery issues so often, and why he is so keen on the idea of
international regulations on their operations.
On dry land, companies like Monsanto are the slavemasters of food supply. The
centralization of national farming infrastructures has given these companies
unrivaled power over how we eat, and thus, how most of the populace survives.
However, the ocean, an unparalleled food source, is still a decentralized
region of production. Anyone can fish it, almost anywhere, without having to
ask permission from the government, or a private company. This obviously does
not sit well with World Bank, not because they fear overfishing, but because it
provides a sovereign means of survival, allowing people to remain independent
from the globalist system.
By utterly corporatizing resources that have through all of time been freely
accessible to every human being, World Bank and the elitists they serve hope to
build a framework for total centralization of all means of production and
sustenance on Earth. Does this sound like mad scientist stuff? Absolutely. Does
that make it any less factual or terrifying? Not a chance.
The real cleverness in using the environmental aspect of ocean management lay
in the reality that there is, indeed, severe damage being done to many parts of
the ocean’s ecosystems. Cap and trade is based on the lie of anthropomorphic
global warming and highly misrepresented data on the effects of CO2 (just ask
any global warming enthusiast why NASA and the CRU have never released the
source data for their experiments to prove that their claims are true). The
monetization of the air we breathe can be defeated in the minds of the general
public for this reason. But with the oceans, legitimate pollution is occurring.
This gives World Bank a much more tangible argument for supranational
regulation in the name of environmentalism. What people must realize, though,
is that this regulation will have no effect on the deterioration of the seas.
In fact, it will likely hasten their destruction.
The international nature of how the oceans are utilized also opens the
globalization door to World Bank. When a supranational entity is given de facto
governance over a region that is used by all sovereign countries, it gives that
entity the ability to interfere in the decision making processes of those
nations without any input or respect to the people who live within them. For
Americans, this means being susceptible to laws created by men far outside our
borders who we cannot vote in, vote out, or chase down with our pitchforks when
the voting is rigged. This has always been the goal of globalists; to create
the most dominant and unaccountable ruling body in history, while at the same
time convincing the masses that we cannot live without it.
At bottom, centralization is the foundation for the collectivist fallacy; that
there is a “greater good” that must be maintained by the establishment. This
process makes the establishment indispensable in the minds of the public. The
elites in power today have chosen environmental dogma as their version of the “greater
good”, because the “end of the world as we know” can be used to rationalize
almost any brand of despotic behavior, from food and water rationing as a
method for social conditioning, to population control or even depletion in the
name of “saving the planet”. Always beware the true motivations of any
governing institution that seeks to assert itself as the purveyor of all that
is “best” for the people. Such groups are rarely if ever what they seem…
As
anticipated in November 2011, Moody's Investors Service has today adjusted the
sovereign debt ratings of selected EU countries in order to reflect their
susceptibility to the growing financial and macroeconomic risks emanating from
the euro area crisis and how these risks exacerbate the affected countries' own
specific challenges. Moody's
actions can be summarised as follows: - Austria:
outlook on Aaa rating changed to negative - France:
outlook on Aaa rating changed to negative - Italy:
downgraded to A3 from A2, negative outlook - Malta:
downgraded to A3 from A2, negative outlook - Portugal:
downgraded to Ba3 from Ba2, negative outlook - Slovakia:
downgraded to A2 from A1, negative outlook - Slovenia:
downgraded to A2 from A1, negative outlook
Here in the
United States, growing numbers of people can't afford that most basic of
necessities: food. More
Americans said they struggled to buy food in 2011 than in any year since the
financial crisis, according to a recent report from the Food Research and
Action Center, a nonprofit research group. About 18.6 percent of people --
almost one out of every five -- told Gallup pollsters that they couldn't always
afford to feed everyone in their family in 2011.
Thanks to tax
loopholes and deductions, General Electric (GE) was able to pay a mere 2.3
percent in federal taxes on over $81 billion in profits over the last 10 years,
according to analysis of the corporation’s tax filings conducted by Citizens
for Tax Justice. The Citizens
for Tax Justice, a non-partisan watchdog group, said that GE’s latest filings
with the Securities and Exchange Commission (SEC) reveal that they were far
under the supposed 35 percent corporate tax rate. GE was able
to rob taxpayers blind during years when their profits declined, all while
paying taxes at a rate far below what most hardworking American individuals are
saddled with.
It's a day of mass protests across the EU, as people rail against austerity,
cuts and economic hardships - which they say are not their fault. Fresh
demonstration are brewing across Greece - as the government seeks to implement
the drastic austerity measures that came with the latest EU bailout. The
demonstrations will be synchronous with those in Spain - where people are angry
at their own draconian cuts and bleak prospects.
NEW DELHI,
Feb. 28 (UPI) -- A one-day general strike, called by India's major trade
unions, struck the country Tuesday to protest high inflation and other issues.
At a time
when the ECB is preparing to write a further €500 billion cheque for the banks,
the ECB President has declared that over-indebted countries will have no option
but to implement draconian austerity policies if they are to overcome the
crisis. Shocking words, which, French business daily La Tribune argues, are
nonetheless justified. This is the New World Order.
People worked to death, no services, just pouring the money into the pockets of
the private central bankers, and even that will not be enough to repay the debt
in a banking system that by design creates more debt than money.
A German
minister has broken with the official government line by saying Greece should
be encouraged to quit the euro. The comment, made to SPIEGEL, comes ahead of
Monday's parliamentary vote on the second bailout. Some newspapers, including
the tabloid Bild, agree that it's time for Greece to leave. Large
corporate conglomerates have a trick they like to play on investors. When they
get into financial trouble, they find a subsidiary that isn't performing and
quietly transfer all negative assets and obligations into that subsidiary,
which is then "spun off" into a separate company, and allowed to
collapse, taking the debt with it. The investors to whom that debt is owed get
screwed, the larger corporation survives and the executives write themselves
huge bonuses. It
looks like the EU is playing the same game with Greece.
A prominent
professor says UK's economic and financial model is a failure amid Chancellor
George Osborne's announcement that the country has run out of money.
Leading
economies told Europe it must put up extra money to fight its debt crisis if it
wants more help from the rest of the world, piling pressure on Germany to drop
its opposition to a bigger European bailout fund. Are
these people totally clueless? Europe is enslaved to a private central banks,
which like all private central banks brings money into existence through
lending. Europe cannot put up more money without increasing its aggregate debt,
without more BORROWING, thereby worsening the debt situation. Aside from some
covert transfers of US wealth into Europe via bearer bonds, Europe has no
source of wealth other than the labor of its people, and given growing
unemployment mandated by "Austerity", that source of wealth has
collapsed. Right
now the European economy can be seen as a boat with ten holes in the bottom and
only nine corks. Everything done to "save" Europe amounts to yanking
a cork from one hole and pounding it into another in full view of the press
cameras, all the while shouting "I am working on the problem!"
First high
gas prices, now water. A shocking new report about the nation's crumbling
drinking water system says that Americans should expect their bills to double
or triple to cover repairs just to keep their faucets pouring. That means adding
up to $900 a year more for water, nearly equal the amount of the newly extended
payroll tax cut. Fixing and
expanding underground drinking water systems will cost over $1 trillion in the
next 25 years and users will get socked with the bill, according to the
American Water Works Association.
WASHINGTON
(AP) — Businesses slashed spending on machinery and equipment in January after
a tax break expired, pushing orders for long-lasting manufacturing goods down
by the largest amount in three years. Orders for
durable goods fell 4 percent last month, the Commerce Department said Tuesday.
The
International Swaps and Derivatives Association said it will hold a meeting on
Thursday, March 1 at 11:00 a.m. GMT to determine whether a credit event
occurred in respect to Greece. A general interest question was posed to ISDA’s
EMEA Determinations Committee last week. Collective
action clauses (CACs) have been at the heart of determining whether a Greek
credit event has occurred. Remember
that ISDA is made up of representatives from the Wall Street financial
institutions that sold all those credit default swaps in the first place, so
there is a vested financial motive for ISDA to say no event has occurred.
Last Monday,
a deal seemed to have emerged: That’s what the announcement sounded like. In
fact, it looked so much like a done deal—it was spun so decisively as a done
deal—that I was all set to write something snarky like, Greece Takes It Greek
Style: “Thank You Troika, May I Have Another” Bailout On Its Way. (What can I
say: I’m a vulgar bastard.) But then . .
. then we all started looking at the fine print of the deal. And that’s when
everyone who follows this stuff started to realize that the deal wasn’t a
deal—merely the illusion of a deal. Which
explains the non-reaction by the stock market; investors were not fooled.
After three
years with unemployment topping 8 percent, the U.S. has seen the longest period
of high unemployment since the Great Depression, the Congressional Budget
Office noted in a report issued today. And, despite
some recent good news on the economic front, the CBO is still predicting that
unemployment will remain above 8 percent until 2014. The report also notes
that, including those who haven't sought work in the past four weeks and those
who are working part-time but seeking full-time employment, the unemployment
rate would be 15 percent. I
don't believe these numbers for one second; my estimate would be that the US's
unemployment figures are close to double what the CBO has stated, but real
real numbers just aren't going to be released in an election year.
China, the
largest foreign lender to the U.S., reduced its holdings of Treasuries in
December to the least since June 2010 amid efforts to assist Europe in
addressing its debt crisis. The world’s
second-largest economy decreased its U.S. debt securities by $31.9 billion from
November, or 2.8 percent, to $1.11 trillion, according to Treasury Department
data released yesterday. Its position in longer-term notes and bonds also fell
$32.5 billion, or 2.8 percent, to $1.1 trillion, the least since June 2010.
Japan, the second biggest buyer, increased its holding by $3.5 billion to $1.04
trillion. The
Chinese economic leadership isn't stupid: they can see the writing on the wall
in terms of the long-term problems with US treasuries.
Beijing -The
Chinese elite is a merger between the Communist leadership, Hong Kong tycoons,
and the criminal Triads. All three factions derive derive their power from
Rothschilds collaboration. China has
appeared autonomous because the Illuminati developed the country internally,
funding 'revolutionary' political parties spouting nationalist slogans. The
reasoning was that the Chinese people would revolt against overt foreign
domination, but embrace their place in the NWO if they believed they were in
control.
Britain's
credit rating took a knock this week, when Moody's expressed a 'negative
outlook' for the national economy. But who are the mysterious agencies who take
it upon themselves to grade everything from countries to corporations – and how
much power do they really wield?
Along with Fitch, and Standard & Poor's
(S&P), Moody's are one of the Big Three credit ratings agencies. They sound
like a trio of preppy clothing companies, but in fact they are some of the most
powerful players in world finance. Specifically, they rate the "creditworthiness"
of companies and currencies. In the process, it is hoped that they give
investors an idea which investments are safest to make.
My adviser will ideally come back to me
with three particular letters: AAA. This is the highest rating Moody's offers.
Then comes AA1, and the scale goes down to C. Anything below BBB is known as
"junk".
"The UK has a rating of AAA,"
says Ms Moody. But then comes the hammer-blow: "We also have a negative
outlook for the UK." This negative outlook – which Moody's announced on
Monday – isn't quite AA1, but it's the preamble to it. The lower their outlook,
the more likely Moody's thinks the UK government is to default on its debts –
and the less likely it is that people such as me will want to lend it money.
The lenders that do remain will be more nervous about the prospects of getting
their money back – and so they'll charge higher interest rates. And the higher
the interest rates, the steeper the government's debt repayments, and the more
likely it is to default. And so it goes on. It is an Escherian cycle, and one
in which the credit ratings agencies – many argue – play too powerful a role.
"I am no fan of conspiracy theories," said Rainer Bruederle, a former
German economic minister, after S&P threatened to downgrade 15 EU countries
in December, "but sometimes it is hard to dismiss the impression that some
American ratings agencies and fund managers are working against the
eurozone."
Where did it
come from? Where did it go? These are the two principal questions being framed
today, after Lord James of Blackheath (a member of the UK House of Lords)
unveiled documentation (and accusations) concerning a mounting of illegitimate
cash: $15 trillion USD. What
I think is happening with this mysterious $15 trillion, the billions in bonds
seized in 2009, and the more recent seizure of another $6 trillion in Italy, is
that the United State is covertly transferring bullion and bearer bonds payable
in gold into Europe so that can be put on the balance sheets of Europe's banks
without a corresponding debt obligation, to keep the European banks solvent to
prevent triggering the trillions of dollars in Credit Default Swaps against the
European debt sold by Wall Street banks. Once again the American people are
being looted to pay for Wall Street's crimes. More detailed analysis tomorrow.
Plans for
Greece to default, potentially leaving the euro, have been drafted in Germany
as the European Union begins to face up to the fact that Greek debt is
spiralling out of control - with or without a second bailout. "The idea
instead is that the Greek government should officially declare itself bankrupt
and begin negotiating an even bigger cut with its creditors. For Schäuble, it
is more a question of when, not if." The cuts,
including a reduction in the minimum wage, mass redundancies within the public
sector, and a slashing of the health and defence budgets, sparked rage on the
streets of Athens last week, with buildings set on fire amid angry protests.
Hammered by
the financial crisis that has led to ever diminishing income, a group of residents
in northern Greece have joined forces with potato farmers to slash consumer
prices and ensure producers can get their crop to markets by cutting out the
middle man. Good
move. Middle men just take a piece of other peoples' productivity while producing
nothing themselves. If you buy an orange from your local farmer, it is fresh
and inexpensive. But middlemen love to insert themselves into that commerce and
buy oranges in California to ship to buyers in Florida while buying oranges in
Florida to ship to California, with the result that people are paying more
money for less-fresh food, plus paying for all that shipping and the huge
salaries of the middlemen CEOs who bribe congress to outlaw those local
farmer's markets. Greece is making the right move.
The violence
of the reaction in Greece is a cry that goes out to the world. How long will we
sit still and see the world torn apart by these barbarians, the rich, the
banks? How long will we stand by and watch the injustices increase, see the
health service dismantled, education reduced to uncritical nonsense, the water
resources of the world privatised, communities wiped out and the earth torn up
for the profits of mining companies? Forget
all illusions about living in peace. The money-junkies' lust for money is
matched only by their lust for war as a means to more money. We face either a
revolution against the money-junkies or a world war fought for the
money-junkies. There is no third path, and since it is my life that may be
forfeit in war I reserve the right to choose for myself who my targets will be!
While many of
us are working to ensure that the Occupy movement will have a lasting impact,
it’s worthwhile to consider other countries where masses of people succeeded in
nonviolently bringing about a high degree of democracy and economic justice.
Sweden and Norway, for example, both experienced a major power shift in the
1930s after prolonged nonviolent struggle. They “fired” the top 1 percent of
people who set the direction for society and created the basis for something
different.
Here in
Argentina, when we watch the terrible things that are happening today in
Greece, we can only exclaim, “Hey!! That’s exactly what happened in Argentina
in 2001 and 2002…!” A decade
ago, Argentina too went through a systemic Sovereign Public Debt collapse
resulting in social turmoil, worker hardship, rioting and street fights with
the police. Some months
before Argentina exploded, then-President Fernando de la Rúa – forced to resign
at the height of the 2001 crisis – had called back as finance minister the
notorious pro-banker, Trilateral Commission member and Rockefeller/Soros/Rhodes
protégée Domingo Cavallo.
The Irish
Times reported in November that EU finance ministers’ discussed a wider
strategy by the ECB to sound out the possibility of gaining control over the
gold reserves of the euro zone’s central banks. Did we just solve the mystery of where Zeus's gold
statue vanished to? :)
While hardly discussed broadly in the
mainstream media, the top news of the past 24 hours without doubt is that in
addition to losing its fiscal sovereignty, and numerous other things, the Greek
population is about
to lose its gold in a perfectly legitimate fashion, following
amendments to the country's constitution by unelected banker technocrats, who
will make it legal for Greek creditors - read insolvent European banks - to
plunder the Greek gold which at last check amounts to 111.6 tonnes according to
the WGC. And so we come full circle to what the ultimate goal of banker
intervention in the European periphery is - nothing short of full gold
confiscation. So just how much gold will be pillaged by the banker oligarchy
(it is amusing how many websites believe said gold is sacrosanct by regional
national banks, and thus the EUR is such a stronger currency as it has all this
'gold backing' - hint: it doesn't, as all the gold is about to be transferred
to non-extradition countries)? As the World Gold Council
shows in its latest update, between all the PIIGS, who will with 100% certainty
suffer the same fate as Greece (which has shown that unlike during World War 2,
it is perfectly willing to turn over and do nothing) there is 3234 tonnes of
gold to be plundered. And likely more as further constitutional amendments will
likely make the confiscation of private gold the next big step. how much does
this amount to?
by Stephen
Lendman Predatory
bankers make serial killers look good by comparison. Their business model
creates crises to facilitate grand theft, financial terrorism, and debt
entrapment. They steal
all material wealth and then some. They systematically rob investors and strip
mine economies for self-enrichment.
Greece today,
Spain/Portugal/Italy tomorrow? According to the Daily Express it will be Italy
next, followed by Spain, Portugal and then maybe even France. ...
and then the United States.
Greek
indignation threatens to spread Riot police
have shielded Greece's national parliament as demonstrators protested against
austerity measures on the eve of talks in Brussel
Violence: Riot
police officers walk pass a fire as they clash protesters in front of the Greek
Parliament in Athens last week
‘It is very
worrying — we have to work out our reaction,’ said Christou. ‘We have not yet
seen a humanitarian crisis here like in Sudan, but we have to be ready.’ This is a
profoundly alarming scenario, conjuring up images not seen in modern Europe
outside of war zones. ‘Even two years ago I never thought I would see these
sorts of things here,’ he said. ‘The fear is
that things could be about to get much worse for a large number of people.’
As Greece is forced by European leaders to abandon
a referendum to allow the people the chance to vote on its latest bailout
conditions, the country is preparing for yet another dose of austerity. The conditions of the next €130bn rescue package
will be severe, yet there is an elephant in the room: the extent to which the
German but also the French military industries rely on Greece. The small, crisis-hit nation, whose prime
minister, George Papandreou, narrowly survived a vote of confidence on Friday,
buys more German weapons than any other country. Some Greeks want to know why
it is that France and Germany are demanding cuts in pensions, salaries and
public services, but the buying of arms is allowed to continue unabated.
As the
eurozone teeters on the brink of catastrophe and Britain is forced to tighten
its belt, the shameless demand added to the growing clamour for us to pull out
of the EU. The basic salary of an MEP is already £82,915 a year, compared with
£64,766 for an MP at Westminster. Euro MPs can also rake in £360,000 in
expenses. If the three
per cent budget increase is ratified in Brussels next month, MEPs would receive
an extra £2,500 in pay and more lucrative expenses and pension entitlements. It
would also add the equivalent of an extra £45million a year to the hugely
inflated parliamentary budget, just as debt-ravaged Greece faces financial
ruin. The increase
would bring the total cost of the army of MEPs and their hangers-on to a
staggering £1.55billion next year.
After several
years of scandal in which the Catholic Church has faced allegations of
financial impropriety, paedophile priests and rumours of plots to kill the
Pope, the Vatican is now facing a new €600m-a-year tax bill as Rome seeks to
head off European Commission censure over controversial property tax breaks
enjoyed by the Church. As the EC
heads closer to officially condemning the fiscal perks enjoyed by the Catholic
Church and introduced by the Berlusconi administration, Prime Minister Mario
Monti has written to the Competition Commissioner, Joaquin Almunia, saying that
the Vatican will resume property tax, or Ici, payments.
The number of
people sleeping rough in England has increased by 23 percent in a year,
according to new data provided by homelessness charity Crisis. The
people of Great Britain. like the people of the world, work hard and produce
much. So where is the wealth their labors create? Where does the wealth vanish
to and why is there so much debt? Because the world is in the grip of a slavery
banking system that by design pumps wealth from the slaves to the masters by
always creating more debt than money with which to pay that debt. This
is rule by compound interest, and it is no more legitimate a form of governance
than rule by divine right or rule by chattel ownership of ones body.
Since the
concept of people who aren’t looking for work is so fluid, and some of those
people have clearly been persuaded not to look for work because of
job-destroying government policies, it might be more logical to measure
unemployment using the standard incorrectly offered by the Bureau of Labor
Statistics for the U-3 rate: “total unemployed, as a percent of the civilian
labor force.” That’s what the U-3 rate claims to measure, but it doesn’t, not
by a long shot. What is the
current percentage of working-age Americans, eligible to participate in the
civilian labor force, but not currently working? Answer: 36.3 percent. That’s the
worst labor participation rate in three decades, and it’s part of the worst
employment picture we’ve seen since the Great Depression.
The efforts
to parcel off and sell out entire sectors of America’s infrastructure to
foreign interest continues daily. HR 7, the bill at issue here would put tolls
on roads American taxpayers funded and paid for and which they continue to fund
through gasoline taxes diverted to the Transportation and Highway Trust account
at the IMF. Of course, that trust fund, just like Social Security has been raided
continually by the federal government since its inception leaving a negative
balance for that particular identified revenue stream. The money the federal
government invested in the original construction of these highways and freeways
was garnered from individual taxes and was not taken from some non-existent
private account owned by the Fed. The Fed has no money of its own. UNFLIPPING BELIEVABLE!!!
"People
seem crazy about gold, snatching it up more like a cheap cabbage than such a
precious metal," it quotes Beijing resident Miao Miao. The value of
sales at two of Beijing's top gold retailers, Caibai and Guohua, reportedly hit
600 million Yuan ($95.28 million) – a 49.7% rise on last year's sales, almost
50% increase in purchases! The gold price in Dollars meantime rose around 25%
over the same period.
Have you ever
watched a football game or a basketball game where one team dominates the other
team so badly that calling it a "blowout" would be a huge
understatement? Well, that is what China is doing to the United States. China
is absolutely destroying America on the global economic stage.
An economic
nightmare is descending on Europe. With each passing month, the economic
numbers across Europe get even worse. At this point it is becoming extremely
difficult for anyone to deny that Europe is plunging into a full-blown economic
depression. In fact, some parts of Europe are already there.
Romania's
Prime Minister Emil Boc has stepped down to "defuse political and social
tension" after a series of protests against austerity measures. And
another one bites the dust!
A desperate
Spanish village has turned back time and reintroduced the peseta in a bid to
kick-start its ailing local economy. Residents in
Villamayor de Santiago, 80 miles south-east of Madrid, initially held onto the
old money for fear the euro would fold. In recent
months their prediction, made when their national currency was phased out ten
years ago, has inched closer to coming true. "No,
no, no, no, NO! You will use the Euro! You will get used to a
life of permanent debt and poverty! You will learn to like it! Why do
you think we set up all those private central banks? So losers like you could
actually have a comfortable life? What is wrong with you
slaves?!?" -- Gold in My Sacks
He launched
sharp attacks against the bailout conditions, calling them "a programme of
aggression against workers and against the national interest." "Austerity
did not create wealth. The country needs the rope around its neck to be removed
so that it can breathe, live and work," the unionist said, calling for a
revision to the minimum wage of 485 euros gross. "Net
salary is at 432 euros, while the poverty line is at 434 euros, and that
concerns currently ... 400,000 workers" in Portugal, he said.
The clashes
broke out in the mid-afternoon after students protesting against education
budget cuts, which they say have left classrooms without heating, demonstrated
outside a school and came up against police barricades. Photographs
and videos from the scene showed youths with bleeding faces and baton-wielding
police in helmets and body armour chasing, beating and dragging people along
the ground as the clashes continued after nightfall. El Pais
newspaper said on its website that police fired rubber bullets, and media
reported numerous injuries. Valencia
regional police chief Antonio Moreno said police used “proportionate physical
force” in comments to reporters broadcast on Spanish radio. "...proportionate
physical force...” ?!?!?!? Looking at these images, except for the clothing the
students are wearing, one could reasonably imagine that Spain had
devolved right back to the old times of Franco's fascist government. If
this is what "to protect and serve" looks like to Spanish police,
Spain just got removed from my "bucket list" right the heck now!
"Greece's
prime minister scrambled Sunday to convince lenders and politicians to sign off
on a 130 billion euro rescue, after his finance minister said just hours
remained to clinch a deal to avoid a messy default. "It
is NOT a default! It is NOT a default. It's a ... temporary deferment of
payments. Please do not attempt to cash in those credit default swaps you
bought from Wall Street. Please do not attempt to cash in those credit default
swaps you bought from Wall Street. You will be shot on sight if you try to do
so" -- Official White Horse Souse
It is impossible to 'earn' interest without creating poverty.
The document
asserts that Greece will officially be declared in default by all the ratings
agencies after the close of business on Friday march 23rd . At the weekend all
Greek bank accounts will be frozen, with emergency measures detailed to prevent
the flight of capital. Included in the paperwork is a list of very limited
exceptions to the ‘no withdrawals’ order. All major banks ‘are instructed not
to deal with euro exchange as of open of business in Greece on Monday 25th
march. All Greek markets will close for one day ‘at least’.
Greece's
coalition government has agreed to demands to cut civil service jobs,
announcing 15,000 positions would go this year, amid mounting international
pressure to agree on austerity measures needed to secure major new debt
agreements. So
the people of Greece will basically send all their money directly to the
private central bank and learn to get along without police, firefighters,
teachers, etc. No sacrifice is too great to keep the bankers happy!
Greece is the
epicenter of a drama that threatens to unwind with all the intrigue and
subterfuge of ancient Greek myths and tragedies. As with the legend of Icarus,
big, and now bigger, transnational banks provoked the gods with their
wax-and-feather financial fabrications to create the appearance of soaring
wealth. Now that they have flown too close to the sun and their wings have
melted, these banks are being brought to earth by the obligations and
consequences imposed by their fabrications.
Here is where
it just got surreal. It turns out that not only will Greece not see a single
penny from the Second Greek bailout, whose entire Use of Proceeds will be
limited to funding debt interest and maturity payments, but the country will
actually have to fund said escrow! You read that right: the Greek bailout #2 is
nothing but a Greek-funded bailout of Europe's insolvent banks... and the Greek
constitution is about to be changed to reflect this!
If Europe’s
new plan for Greece succeeds, nobody will be more surprised than the
politicians who designed it. At best, the arrangement is a holding action, one
that fails yet again to deal with the much larger confidence crisis facing the
euro area.
Royal Bank of
Scotland Group Plc, Commerzbank AG (CBK) of Germany and France’s Credit
Agricole SA booked losses on their Greek government debt two days after
creditors agreed to the biggest sovereign restructuring in history.
Latest
from Twitter feeds. Senior Greek officials resign. Remainder of Cabinet
approves EU/IMF "deal." Reports between 5 and 20 Government buildings
being burned by protesters.
Buildings on fire
(Earlier) Police and protesters uder the shadow of the
Acropolis
(Earlier) Crowd in front of Parliament
Crowd in front of Parliament
More Greek people marching into Athens.
Looks
like that deal the Greek Cabinet made with the EU and IMF may be moot. When the
Greek government falls, there is no way to keep those trillions in credit
default swaps sold by Wall Street from triggering. That will destroy the US
economy and the Federal Government with it. Greece, the birth place of
democracy, might just halt the rush into WW3! The
Greeks have balls Americans only dream of! Like Iceland, they are showing the
way to the future. Which
may explain why ABCNNBBCBSFOX think the death of yet another drugged-up
has-been rock star is more newsworthy!
Looks
like that deal the Greek Cabinet made with the EU and IMF may be moot. When the
Greek government falls, there is no way to keep those trillions in credit
default swaps sold by Wall Street from triggering. That will destroy the US
economy and the Federal Government with it. Greece, the birth place of democracy,
might just halt the rush into WW3! The
Greeks have balls Americans only dream of! Like Iceland, they are showing the
way to the future.
http://www.athensnews.gr/portal/1/53244 20:22 We've
heard that a branch of Starbucks and Eurobank are on fire on Korai Square, off
Panepistimiou St. The most
recent updates are at the top. Please remember to hit the refresh button on
your browser in order to see updates. Follow us on @athensnewseu for more
updates.
A 24-hour
general strike is under way in Greece against the Cabinet’s austerity policy.
Railway and maritime traffic has come to a halt, and public transport
disruptions have been reported. Doctors,
teachers and bank employees have also joined the strike that was organized by
the largest national unions and timed for the ongoing talks in Athens between
the Cabinet and international moneylenders. The
people of Greece are sending a message to the world that they will not pay for
the financial mistakes of corporations and the criminality of the bankers. We
need to listen to them.
Greece’s
cabinet Saturday approved tough austerity measures demanded by EU and IMF
creditors after the prime minister warned that a failed debt deal and default
would spark “uncontrolled chaos”. The coalition
government, hit by defections on Friday, approved the belt-tightening measures
on a day that saw renewed street clashes between protesters and police and the
start of a two-day general strike. Prime
Minister Lucas Papademos had issued a stern warning after six members of his
coalition government had resigned in protest at the new cuts. I
wouldn't bet against the Greek government falling, and with it, this austerity
deal with the EU and IMF. When
and if that happens, the Euro itself may well crumble, and US financial
institution exposure will roil American financial markets as well.
Ironically,
some of the countries which have provided rescue loans to prevent Athens from
being unable to pay back its debts -- and who have been pushing for Greece to
implement harsh austerity measures -- also want the country to buy their
expensive warplanes and ships.
A leading
European parliamentarian has accused France and Germany of forcing Greece to
buy billions of euros in arms in exchange for their bailout money. France and
Germany, while publicly urging Greece to make harsh public spending cuts,
bullied its government to confirm billions of euros in arms deals,
Franco-German lawmaker Daniel Cohn-Bendit alleged on Friday. The
accusation drew a stern denial from the French government.
Athens is
besieged by riots, because ordinary Greeks understand what their leaders won't
admit. The reforms imposed by Angela Merkel and Greek creditors will delay but
not avoid a sovereign default. Those won't solve the nation's chronic economic
problems, and ultimately will cause the ruin of Europe's most ancient
civilization.
Following the
ongoing European monetary crisis, European Union leaders visited Beijing this
week seeking Chinese money to help bolster a planned fund of about 500bn euros
($665bn). The new fund would provide bailout financial guarantees to loans
given by European national banks in the hope of kick-starting European economy.
Yesterday, February 14, 2012, Premier Wen Jiabao offered co-operation to help
stabilize debt-ridden EU nations, but made no specific promise to invest in the
proposed European bailout fund. So
now they are going to blame China for the financial crash instead of the fatal
design flaw in private central banking.
Holland and
Italy, two of the Eurozone’s largest economies, have gone into recession, new
figures show. The economies
of both countries suffered a second successive quarter of shrinkage, each
contracting by 0.7 per cent during the last three months of 2011. Germany’s
economy also contracted in the fourth quarter, down 0.2 per cent from the
previous quarter. This was the country’s first shrinkage since 2009. Together, all
17 nations making up the Eurozone witnessed a 0.3 per cent contraction in the
fourth quarter, but have managed to avoid a collective recession with growth of
0.1 per cent in the third quarter.
Italy has
slid into recession, preliminary figures from the national statistical agency
confirmed today. ISTAT said
the eurozone's third-largest economy contracted a quarterly rate of 0.7% in the
last three months of 2011 - that was the second quarterly decline in a row,
which is the official definition of a recession. The Italian
economy registered growth of 0.4% last year, compared with 1.4% a year earlier.
Congratulations
to Iceland. Fitch has
upgraded the country to investment grade BBB – with stable outlook, expecting
government debt to peak at 100pc of GDP. The OECD's
latest forecast said growth will be 2.4pc this year, after 2.9pc in 2011. Unemployment
will fall from 7pc last year to 6.1pc this year and then 5.3pc in 2013. The current
account deficit was 11.2pc in 2010. It will shrink to 3.4pc this year, and will
be almost disappear next year.
Greek police
want EU and IMF officials behind bars Greece’s largest police union has threatened to issue a
symbolic warrant for the arrest of key EU and IMF officials. http://rt.com/news/line/2012-02-10/#id26309 Striking
Brussels firemen soak cops, PM office (VIDEO) When the Belgian government decided to pour cold water
on the country’s firefighters and increase their retirement age, the men struck
back with the same method…literally. http://rt.com/news/firemen-belgium-hose-police-013/
Nokia is
moving more of its manufacturing to Asia, the company says, and it is laying
off about 4,000 workers by year-end at three factories in Europe and Mexico.
Tens of
thousands of Britons are struggling to make ends meet, forcing ever greater
numbers to resort to the use of food banks. There are now
163 food banks in the UK. In 2011 alone there was one opening every week. The
99% are working harder than ever and yet the 99% are descending into poverty,
hunger, and homelessness. Where is all that wealth created by the 99% vanishing
to?
Elderly
people should be encouraged to go back to work and move into smaller homes, one
of David Cameron’s key advisers said last night. "Look,
it's simple. If we spend the money we took from you while you were working to
take care of you now, then we won't have money to wage war on Israel's enemies!
Government is choosing! Government is prioritizing! And you smelly old people
just aren't useful any more!" -- Number 9 3/4
Reuters
and wanttoknow.info provide prima
facie evidence that the US 1% runs Wall Street as rigged-casino gambling to
transfer wealth from the 99% to themselves. The amount of money fraudulently
gambled is not millions of dollars, not billions, not even tens of trillions,
but over five hundred trillion ($532,000,000,000,000).
Let
this sink in: $532
trillion means that the 1% US banksters gamble over $5 million dollars for
every US household and $1.7 million for every American.
OCC’s
Quarterly Report on Bank Trading and Derivatives Activities: Third Quarter 2011 December 2011, OCC (U.S. Office of the Comptroller of the Currency,
Administrator of National Banks) http://www.occ.gov/topics/capital-markets/financial-markets/trading/derivatives/dq311.pdf The OCC’s
quarterly report on trading revenues and bank derivatives activities is based
on Call Report information provided by all insured U.S. commercial banks and
trust companies, reports filed by U.S. financial holding companies, and other
published data. The
notional amount of derivatives held by insured U.S. commercial banks decreased
$1.4 trillion, or 0.6%, from the second quarter of 2011 to $248 trillion.
Notional derivatives are 5.7% higher than at the same time last year.
Derivatives activity in the U.S. banking system continues to be dominated by a
small group of large financial institutions. Five large commercial
banks represent 96% of the total banking industry notional amounts.
Insured commercial banks have more limited legal authorities than do their holding
companies. Note: Graphs in this report show that
the holding companies for the top five banks also control massive amounts of
derivates totaling $326 trillion! The holding companies JPMorgan Chase, BofA,
Morgan Stanley, Citigroup, and Goldman Sachs have over $311 trillion in
derivates, 95% of the total U.S. market. So these banks and their holding
companies combined own $532 trillion in derivates, equivalent to roughly
$75,000 for every person on the planet. What are the bankers doing? If the above
link fails, click here.
OTC
derivatives market activity in the first half of 2011 November 16, 2011, Bank for International Settlements (Intergovernmental
organization of central banks) http://www.bis.org/press/p111116a.htm After an
increase of only 3% in the second half of 2010,total notional amounts outstanding of
over-the-counter (OTC) derivatives rose by 18% in the first half of 2011,
reaching $708 trillion by the end of June 2011. Note: The Bank for International
Settlements (BIS) is an intergovernmental organization of central banks which
"fosters international monetary and financial cooperation and serves as a
bank for central banks." It is not accountable to any national government.
Their accounting shows a total global derivates market controlled by the banks
of over $700 trillion. That's $100,000 for every man, woman, and child on the
planet. As reported in Reuters, the derivates market is largely unregulated. Do
you think there is any manipulation going on here? BIS helps the bankers to
work together to keep their hidden power.
States
seek currencies made of silver and gold February 3, 2012, CNN http://money.cnn.com/2012/02/03/pf/states_currencies/ A growing
number of states are seeking shiny new currencies made of silver and gold.
Worried that the Federal Reserve and the U.S. dollar are on the brink of
collapse, lawmakers from 13 states, including Minnesota, Tennessee, Iowa, South
Carolina and Georgia, are seeking approval from their state governments to
either issue their own alternative currency or explore it as an option. Just
three years ago, only three states had similar proposals in place. Unlike
individual communities, which are allowed to create their own currency -- as
long as it is easily distinguishable from U.S. dollars -- the Constitution bans
states from printing their own paper money or issuing their own currency. But
it allows the states to make "gold and silver Coin a Tender in Payment of
Debts." And since gold has grown exponentially more valuable,
while the U.S. dollar continues to lose ground, the notion has become
increasingly appealing to state lawmakers, he said. The states' proposals have
been gaining steam among Tea Partyers and Republicans, many of whom also
endorse a nationwide return to the gold standard, which would require the U.S.
dollar to be backed by gold reserves.
Overall,
about 5.6 million people moved their bank accounts in the last quarter of 2011 January 27, 2012, Reuters News http://www.reuters.com/article/2012/01/27/us-bank-transfer-idUSTRE80Q1TU20120127 More than
600,000 U.S. consumers have moved their money from big banks to community banks
or credit unions, thanks to the much-publicized Bank Transfer Day last fall,
according to an analysis released by Javelin Strategy & Research. The grassroots
campaign to get people to shift out of big banks capitalized on the nationwide
Occupy Wall Street movement, and picked up further momentum from a Bank of
America plan in September to charge customers a $5 per month debit card fee.
"It was a meaningful movement of people from big banks into small
community banks and credit unions ..." said Jim Van Dyke, founder of
Javelin. Historically, people don't switch banks easily, even if they are
unhappy, Van Dyke says. Consumers have strong ties to their banks
because of direct deposit, automated bill payments and habit -- making change
more complex than simply going someplace else. "Individuals are really
resistant to moving their money out of banks," Van Dyke says. Overall,
about 5.6 million people moved their bank accounts in the last quarter of 2011,
Javelin says. Account changes attributed to Bank Transfer Day represented about
11 percent of total moves. Note: As the article mentions, people
rarely change banks, so the fact that 6 million changed banks in three months
is quite impressive!
If the global
economy is not heading for a recession, then why is global shipping slowing
down so dramatically? Many economists believe that measures of global shipping
such as the Baltic Dry Index are leading economic indicators. In other words,
they change before the overall economic picture changes.
There are no
data-supported broad-based drivers for dramatically lower gasoline consumption
other than austerity and lower economic activity. The code-word for
"austerity and lower economic activity" that is verboten in the
Mainstream Media is "recession." Indeed, if you examine the EIA data,
the only causal factor that has backing in the data is recession--or if you
prefer, austerity and lower economic activity.
Retail gasoline deliveries,
already well below 1980 levels, have absolutely fallen off a cliff. Is the plunge
inventory-related, i.e. are storage facilities so full that retailers are
simply putting off deliveries?
Hundreds of
thousands of savers have had their retirement hopes dashed by the banking
crisis and a crash in payouts on with-profits pensions. Those
reaching pension age now are getting £4,975 less a year than an identical saver
who retired five years ago, Money Mail research has revealed. They have
been hit by a toxic combination of plunging payouts on with-profits pensions,
and a fall in annuity rates — which turn pension savings into an income for
life. Pension
funds around the world were suckered into buying Wall Street's fraudulent
mortgage-backed securities, based on the Triple-A rating given the bundles by
Wall Street's own ratings agencies. This
is the biggest financial swindle in all of history, compounded by the steadfast
refusal of governments to acknowledge the crime, because they do not want to
admit to having failed to stop it. The net results is that Wall Street's
biggest crooks made billions of dollars in bonuses and pensioners are paying
for the losses.
Fresh U.S.
Treasury data suggest that China has lost its taste for investing as much of
its $3.2 trillion in foreign-exchange reserves in U.S. dollars and may be
increasing its holding of euro-denominated securities during a time that a debt
crisis has roiled European markets. Looking
at what is going on with the US dollar and the Eurozone, it appears that
Chinese leadership is playing this very intelligently.
More than
600,000 U.S. consumers have moved their money from big banks to community banks
or credit unions, thanks to the much-publicized Bank Transfer Day last fall,
according to an analysis released by Javelin Strategy & Research.
Earlier this
week I reported that New York Fed President Bill Dudley owned over $1 million
worth of Treasury securities whose interest climbs with increasing price
inflation. Now comes
word that Dallas Fed president Richard Fisher owns over $1 million dollars of
gold. One has to
ask, do these guys take themselves seriously as inflation fighters if they have
these kinds of positions in their personal portfolios?
This Fox News
story says it all: The nation’s
five largest mortgage lenders have agreed to overhaul their industry after
deceptive foreclosure practices drove homeowners out of their homes, government
officials said Monday. Those who
lost their homes to foreclosure are unlikely to get their homes back or benefit
much financially from the settlement, which could be as high as $25 billion.
About 750,000 Americans — about half of the households who might be eligible
for assistance under the deal — will likely receive checks for about $1,800. $1800
compensation for having your home taken using deceptive tactics? I think the
750,000 Americans who got that deal ought to take that $1800 and buy an assault
rifle with it.
Almost every
single day there are more prominent voices in the financial world telling us
that a massive economic crisis is coming and that we need to prepare for the
worst. On Wednesday, it was the World Bank itself that issued a very chilling
warning. In an absolutely startling report, the World Bank revised GDP growth
estimates for 2012 downward very sharply, warned that Europe could be on the
verge of a devastating financial crisis, and declared that the rest of the
world better “prepare for the worst.”
A
restructuring of Portugal's sovereign debt will inevitably follow that of
Greece, and there is a very high probability that Ireland and Spain will have
to do the same to the overloaded debt of their banks, according to U.S.
academic economist Kenneth Rogoff. "Okay,
here is the new structure We take all the money form the people and give it to
the banks, then we take all the debt from the banks and give it to the people.
Problem solved! Right? Right? Right? ... Is this microphone working?"
It was tried
previously (several times) under "slightly different" circumstances,
and failed. Yet when it comes to taking over a country without spilling even
one drop of blood, and converting its citizens into debt slaves, Germany's
Merkel may have just succeeded where so many of her predecessors failed.
According to a Reuters exclusive, "Germany is pushing for Greece to
relinquish control over its budget policy to European institutions [ZH: read ze
Germans] as part of discussions over a second rescue package, a European source
told Reuters on Friday." Seriously,
would you take out a loan from the bank if the bank made it a condition that
you let them take charge of the checkbook and decide whether or not you get to
eat every night from now on?
And they
continue to rake it in! The argument
that CEOs deserve fabulous salaries because they “grow” the economy was always
specious, but now, in the face of the financial meltdown and mass unemployment,
such a claim simply generates popular outrage. Despite
nervousness in the media and the political establishment about the vast social
inequality, nothing short of social upheaval will stop America’s executives
from gorging themselves. USA Today reported January 23, for example, that 2011 “is
shaping up as the year of the $50 million-plus CEO.” The newspaper cited Walt
Disney’s Robert Iger as “the latest” member of that exclusive club. Iger
received $31.4 million in pay and perks and took in $21.4 million more from
exercising previously awarded stock options and shares.
Three dozen
aides working under US President Barack Obama — the same president who insisted
on tougher taxes for the economic elite during Tuesday’s State of the Union —
are guilty of forgetting to give the government their due share in taxes.
Thirty-six members of the staff are delinquent with their federal taxes,
Investor’s Business Daily reports. In all, the sum totals to a whopping
$833,970. Maybe they know that the 16th
Amendment, which is what supposedly makes the personal income tax legal, was
never actually ratified.
Page 23 from the transcript from "Sullivan Vs. United States". The
comments in red are by Judge James C. Fox.
Brandon
Turbeville
Activist Post In what can
easily be described as a Soviet-style law, Michigan’s Emergency Financial
Management Law which was passed in March, 2011, essentially gives the Governor
the authority to take over local governments and municipalities and appoint his
own directors in place of elected leaders...
I see No Exit
Strategy For The Bilderbergers in which they win and we lose. As the
Bilderbergers understand the situation of the world economy, there are just two
solutions. One is Austerity and the other is Hyperinflation. And we are doing
both right now. Austerity transfers wealth from us to the Uber Rich by selling
off public assets we paid for and canceling programs we paid for so we can make
payments on a fictional debt. When Argentina was forced by the bankers to sell
of its state owned oil company, the bankers paid 4 cents on the dollar a
national resource. Austerity merely accelerates the transfer of all assets to
the Bilderbergers. Hyperinflation
does not cancel public debts by deflating its actual value. Double prices and
cut your debt in half does not work in the real world.
The seasonally-adjusted SGS Alternate Unemployment Rate reflects current
unemployment reporting methodology adjusted for SGS-estimated long-term
discouraged workers, who were defined out of official existence in 1994. That
estimate is added to the BLS estimate of U-6 unemployment, which includes
short-term discouraged workers.
The U-3 unemployment rate is the monthly headline number. The U-6 unemployment
rate is the Bureau of Labor Statistics’ (BLS) broadest unemployment measure,
including short-term discouraged and other marginally-attached workers as well
as those forced to work part-time because they cannot find full-time
employment.
Facing a
financial crisis, the United States Postal Service announced that 223
processing facilities have been "found feasible for consolidation, all or
in part." Of the 264 processing facilities studied, only 35 are set to
remain open. The
Pony Express could deliver a letter from New York to San Francisco in ten days.
I wonder is the new downsized post office will be able to match that.
In
last week's Metals, Mining, and Money from Casey Research, Jeff Clark estimated that given the magnitude of
the correction that started last September, it may take until May, 2012 for
gold to reach a new high. Let's take a look at how long it may take for silver
to rebound.
It's
a commonly known fact that silver is more volatile than gold. Already in this
decade, silver has risen by a factor of 12 from its ten-year low ($48.70 vs.
$4.07), while gold has seen about a sevenfold climb ($255.95 vs. $1,895).
This volatility – as you'll see in a minute – holds for corrections as well. On
average, silver's retreats have been deeper and longer than gold's. The three
big gold corrections we looked at last week averaged 22.8%. Take a look at the
three biggest for silver, along with how long it's taken to recover and
establish new highs.
(Click
on image to enlarge)
The three biggest silver corrections in the current bull market average to
42.1%.
Our recent correction is the second biggest on record since 2001, but what
really makes it stand out is the duration. The 2004 and 2006 declines took only
five and four weeks respectively to reach their low points. And it was 31 weeks
after the crash of 2008 that silver bottomed. Our current decline, measured
from the peak reached on April 28, 2011 to its December 29, 2011 low, spans 35
weeks… quite the determined downtrend.
It also takes silver longer to recover than
gold: gold's three biggest corrections required an average of 57 weeks and 6
days to regain their old highs, while it's taken silver's three biggest falls
an average of 98 weeks and 4 days to catch up.
So how long will it take to recover from the 2011 slump? We don't know the
future, of course, but the current correction is close to the average of the
three in the chart, so let's apply the average recovery time to our current
situation. The average 42.1% correction took 98 weeks and 4 days to recover;
using the same ratio, a 46.3% correction would take 108 weeks and 3 days.
Counting from the previous peak of April 28, 2011, we wouldn't break the $48.70
high until May 26, 2013 (based on London PM Fix prices).
It shouldn't come as a surprise that silver will take longer to return to its
old high than what we found with gold in last week's article. Why? Half of
silver's use is industrial, so a weak economy can drag down its demand. We
certainly saw that in 2008.
In recent days, the fact that Mitt Romney has millions of dollars parked
down in the Cayman Islands has made headlines all over the world. But when it
comes to offshore banking, what Mitt Romney is doing is small potatoes. The
truth is that the global elite are hiding an almost unbelievable amount of
money in offshore banks. According to shocking research
done by the IMF, the global elite are holding a total of 18 trillion dollars in offshore
banks.
And that figure does not even count any money being held in
Switzerland. That is a staggering amount of money. Keep in mind
that U.S. GDP in 2010 was only 14.58 trillion dollars. So why do the
global elite go to such trouble to hide their money in offshore banks?
Well, there are two main reasons. One is privacy and the other is low
taxation. Privacy is a big issue for those that are involved in illegal
enterprises such as drug running, but the biggest reason why people move money
into offshore banks is in order to avoid taxes. Some set up bank accounts
in foreign nations because they want to legally minimize their taxes and
others set up bank accounts in foreign nations because they want to illegally
avoid taxes. You would be absolutely amazed at what some large
corporations and wealthy individuals do to get out of paying taxes.
Unfortunately, the vast majority of the rest of us don't have the resources or
the knowledge to play these games, so we get taxed into oblivion.
So why do they call it "offshore banking"?
Well, the term originally developed because the banks on the Channel Islands
were "offshore" from the United Kingdom. Most "offshore banks"
are still located on islands today. The Cayman Islands, Bermuda, the
Bahamas, and the Isle of Man are examples of this. Other "offshore
banking centers" such as Monaco are actually not "offshore" at
all, but the term applies to them anyway.
Traditionally, these offshore banking centers have been very attractive to both
criminals and to the global elite because they would not tell anyone (including
governments) about the money that anyone had parked there.
These days some governments (particularly the U.S. government) are trying to
change this, but we certainly will not see the end of offshore banking any time
soon.
The amount of money that goes through these offshore banks is absolutely
astounding.
It has been estimated that 80 percent of all international banking
transactions take place through these offshore banks. $1.4 trillion is being held in offshore banks in the
Cayman Islands alone.
There is one other matter I disagree with Congressman Grayson about in
regard to the Fed’s actions. The Fed says most of the money it lent out has
been paid back. That may not be true. If fact, it’s probably not true. The Fed
may, or most likely, have simply cooked its own books to make it appear so.
Maybe that’s why corporate profits are at record highs during this period of
suppressed demand. How could they have record profits? How could they have paid
back $26 trillion in loans in such a short time? That’s almost twice the
domestic product of the entire United States. There’s only one answer. It’s not
possible. They didn’t pay the money back, at least not most of it.
These were not bailouts but buybacks. In order to
keep the Wall Street crooks behind the mortgage-backed securities fraud, the
biggest financial crime in history, from being sent to prison (like their
Icelandic counterparts) , Ben Bernanke is just printing up trillions in new
dollars to buy back all that bad paper. In the process, Bernanke is devaluing
the money you already worked for and saved, robbing Peter to pay ... Sven. In
addition, this covert hyper0inflation in destroying trust in the dollar around
the world leading to the ever expanding solar "exclusion" zone of
nations no longer willing to trade in dollars, which in turn will eventually
collapse the dollar itself.
Susan
Jennings
Activist Post As we delve
deeper into world control, more information arises that helps us understand the
current global situation. Many people are unaware of the interconnectedness
between the largest global companies...
Eighty percent of the world's wealth
appears to be earned by a "core" of 1,318 corporations, which in turn
are being controlled by only 147 companies. Seventy-five percent of these
companies are financial institutions -- and the top companies on the list are
the Federal Reserve banks.
The Federal Reserve created 26 to 29 trillion dollars' worth of bailouts for
their own companies between 2007 and 2010. This was revealed in their own audit
statements, and confirmed by United States Congressmen and prominent financial
analysts. (Source)
Please note that the Federal Reserve, created in 1913, is a private corporation
controlled by international bankers. (Source)
Anytime the ‘Fed’ prints money-Federal Reserve Notes, the American taxpayer is
charged interest on the amount printed. Alan Greenspan admitted that “the
Federal Reserve is an independentagency . . . there is no other
agency of government who can overrule actions we take.”
As they understood the extreme dangers to our life and liberty, our founding
fathers were adamantly opposed to a central privately controlled bank.
In the two
weeks since the New York Police Department cleared New York’s Zuccotti Park of
its camping protesters, the Occupy Wall Street movement has increasingly turned
its attention to Washington. Protesters say they hope to set up 1 million tents
in front of the Capitol. “We’re taking the movement straight to their
doorstep,” the protest’s Facebook page wrote.
Washington
(CNN) -- Protesters from the Occupy movement and other groups are planning to
converge on Capitol Hill Tuesday to air their grievances in front of members of
Congress.
Members of a broad range of organizations, including unions and community
groups, are expected to travel to Washington to take part in an event dubbed
"Take Back the People's House."
DAVID Cameron
faced anger last night after rejecting referendum calls following a new
Franco-German blueprint for overhauling the European Union. The Prime
Minister dismissed demands for a vote on Britain's ties with Brussels despite
prospects of a major EU shake-up in a new desperate bid to tackle the euro
crisis. The Prime
Minister dismissed demands for a vote on Britain's ties with Brussels despite
prospects of a major EU shake-up in a new desperate bid to tackle the euro
crisis. This could very possibly generate a
"no confidence" vote in Parliament, triggering a snap election in the
UK.
Ireland's
government has unveiled 2.2 billion euros in spending cuts as part of a new
austerity budget that it says will be the toughest of its five-year term. Economic pain His comments
came a day after Ireland's prime minister made the first televised address to
the nation in a quarter of a century to warn of economic pain ahead, saying the
situation will get worse before it gets better.
The Irish Taoiseach last night revealed tough new
austerity measures including hiking VAT to 23 per cent in a bid to save €3.8billion.
A value added tax or
value-added tax (VAT) is a form
of consumption tax.
Enda Kenny
has pledged to get Ireland's budget deficit under an EU limit of 3 per cent of
GDP by 2015 and said this budget would be the toughest in a four-year run of
belt-tightening. The proposals
are expected to include rises in indirect taxes - including a 2 per cent hike
in VAT, increases in excise duty, cuts in social welfare and reduced child
benefit.
More than 800
British businesses a day collapsed last year - the highest number ever
recorded. It was the
second year in a row in which more companies closed down than started up,
according to the figures released by the Office of National Statistics. The bleak
economic outlook is discouraging entrepreneurs from taking a risk on a new
venture, leaving the prospects for growth even more gloomy.
French
lenders lost €100bn (£86bn) in short-term deposits in September alone, mostly
due to precautionary moves by US money market funds and Asian investors afraid
of France's exposure to Italy. "There were huge net capital
outflows," said Eric Dor from the IESEG School of Management in Lille. The
triple-trigger appears to have been a sudden drop in Club Med manufacturing
orders, an ECB rate rise, and the EU's July summit – which led to haircuts on
Greek bondholders and battered faith in EMU sovereign debt.
The Bank of
France faces surging debts to Germany's Bundesbank and fellow central banks in
the EMU system as foreign investors pull large sums out of French accounts.
Having
repeatedly staged national referendums until they got the vote they wanted, the
Lisbon Treaty was passed with a provision, the obscure ‘passerelle’ clause,
Art. 126 (14) via protocol 12, that bestowed upon Brussels the power to change
its terms without any kind of vote whatsoever – popular or parliamentary. “This decision does not require ratification
at national level. This procedure could therefore lead to rapid and significant
changes,” according
to a confidential text issued by EU President Herman Van Rompuy. This means
that any effort to change the treaty in order to create a “fiscal union,” or in
other words, impose centralized control over every member state’s economy from
Brussels, would simply be accomplished with the stroke of a pen and would not
involve votes from any national parliament or any MEP. This would
then empower the European Commission, “to impose austerity measures on eurozone
countries that are being bailed out, usurping the functions of government in countries
such as Greece, Ireland, or Portugal,” reports
the Guardian. It’s all part
of the technocrats’ agenda to seize “intrusive control of national budgetary
policies.” “Why bother
with the one true barbarous relic – democracy – when good ole’ fascism will
suffice,” reports
Zero Hedge. “And that is how a bunch of corrupt kleptocratic incompetent
eurocrats usurp all power in a regime now entirely controlled by Goldman
Sachs.”
Global elites
will do everything to keep the euro on its transitional path towards a global
currency that will eventually replace both the euro and the US dollar. This
entails engineering the controlled collapse of both currencies, whilst
preparing the yellow brick road for a “Global Dollar” or some such new
oxymoron. The US dollar
will be easy to collapse: all that is needed is for the mainstream media to
yell, “The dollar is hyper-inflated!!” and the Naked Emperor Dollar will fall
swiftly. The euro, in turn, will simply break up as its member nations revert
to the old days of pesetas, lire, francs, escudos and drachmas… Is the time
ripe for that? Maybe not… yet.
As Bloomberg
reports, in the aftermath of the Telegraph's latest report confirming what has
been said here all about the collateral crunch in Europe, Europe's CEO are now
actively preparing for the worst case outcome: the end of the Euro (despite
UBS' and other banks' repeated calls that such an event would result in an end
of the world). It appears to
be not a question of IF the Euro is going to be discarded, but WHEN.
An agreement
reached by European countries for deeper economic integration was a step in the
right direction but not a complete solution for the euro zone's debt crisis,
International Monetary Fund (IMF) chief economist Olivier Blanchard said on
Sunday. "I'm
actually more optimistic than I was a month ago, I think there has been
progress," Blanchard told the Globes business conference in Tel Aviv. "What
happened last week is important: it's part of the solution, but it's not the
solution." He did not
say what further steps were needed. There is no 11th marble!
Many Greeks
are draining their savings accounts because they are out of work, face rising
taxes or are afraid the country will be forced to leave the euro zone. By withdrawing
money, they are forcing banks to scale back their lending -- and are
inadvertently making the recession even worse. Georgios
Provopoulos, the governor of the central bank of Greece, is a man of
statistics, and they speak a clear language. "In September and October,
savings and time deposits fell by a further 13 to 14 billion euros. In the
first 10 days of November the decline continued on a large scale," he
recently told the economic affairs committee of the Greek parliament.
Jeff Clark
Casey Research There are a
number of reasons why many of us believe gold stocks will shoot for the moon
before this bull market is over – they've done so many times in the past… the
gold price still has a long way to climb… and producers are generating record
revenue and profits. But I think there's another reason why gold stocks will
soar – one that hasn't dawned on many in the industry yet...
1. These
could be tactical investments to prevent Europe from backing any US/Israeli war.
If we're economically dependent on China, it's harder to gain European support
for a war.
2. Italy has the world's 4th largest gold reserves... so China could take her
gold rather than buying bad debt. Either way,
China wins.
VIDEO:How to take
advantage of a slump if you've got dollars to begin with, and oh yes,
Goldman Sachs rules the world.
Trader Alessio Rastani explains how Goldman Sachs rule the world, not the
governments. He explains how the Eurozone crash will wipe out the savings of
millions.
Here's another video
that provides the names of current key banking figures and country leaders who
came out of Goldman Sachs. Forget the Freemasonry stuff - it doesn't matter
that these guys like to wear white gloves and cross-dress in silly
aprons with roses on them to bond with other males, most of whom have
alcohol problems and don't have a clue what their most wealthy members are up
to - and just pay attention to the fact that this is a financial corporation
that has trained and sent out disciples everywhere to manipulate global markets.
If you read French, a European journalists' club article offers more details. If you
don't, here's a Google translation.
The current Governor of the Bank of Canada, Mark Carney, is a Goldman
Sachs disciple, and has of course had his way smoothed by establishment
publications like Time Magazine and the blatantly conservative Reader's Digest
who named him "Most Trusted Canadian" just in case you had any
doubts.
Carney is also the new
Chair of the Financial Stability Board (FSB) in charge of global financial
institutions, his predecessor having been Mario Draghi, now
president of the European Central Bank, and a former Goldman Sachs Vice Chair
and Managing Director. Draghi is also a fellow of the John F. Kennedy School of
Government at Harvard from which Michael
Ignatieff was dispatched to destroy Canada's federal Liberal Party.
These guys, no matter what their nationality, mostly studied at Yale, Oxford,
Princeton, Harvard or a combination. It's an incestuous club at the helm.
There oughta be a law, eh? Yet despite (or because of) the collective
wisdom of their hive minds*
and hands-on ministration, things are not looking good:
"The
social contract is starting to unravel in many countries," Gurría said.
"This study dispels the assumptions that the benefits of economic growth
will automatically trickle down to the disadvantaged and that greater
inequality fosters greater social mobility."
People are being led to think that it's Canada making an impact on the world,
when really it's Goldman Sachs.
Speaking of same, take a
look at Harper on the subject of global governance and Canadian sovereignty
(video).
Say, why do you suppose Harper is learning
to speak Spanish? Once the North American Union becomes obvious to all,
will he be rewarded by being appointed Governor of the new Bank of North
America?
Last week,
Bloomberg News reported that they had uncovered some interesting info on the
Federal Reserve; after two years of digging and filing suits under the Freedom
of information Act, they learned the Fed had doled out more than $7.7 trillion
in almost zero-interest rate loans to banks – not the $700 billion dollar
bailout figure most often reported in the mainstream media. This week, Fed
Chairman Ben Bernanke said the Bloomberg new reports contained egregious
errors. Bernanke said the loans weren’t $7.7 trillion, just more like $1.5
trillion at 0.1% interest. It turns out
that both Bernanke and Bloomberg are wrong, and this little brouhaha between
the Fed Head and the NYC Mayor has distracted our attention from an even more
interesting report.
It turns out that a couple of years ago
some unlikely political bedfellows, Ron Paul, Bernie Sanders, and Alan Grayson
called for an independent audit of the Federal Reserve. The Government
Accounting Office conducted the audit, the first independent audit of the Fed
in its 99-year history. I don’t think the audit was 100% complete but the GAO
produced a 251-page report. If you want a link to the report, then drop me a
email and I’ll send you the link. http://www.gao.gov/new.items/d11696.pdf
Former Congressman Alan Grayson was kind
enough to highlight some of his favorite pages in the report, and it clearly
documents that Wall Street Bailouts by the Fed that dwarf the $700 billion
TARP, and everything else you’ve heard about.
Page 131 - The total lending for
the Fed's "broad-based emergency programs" was $16,115,000,000,000.
That's right, more than $16 trillion. The four largest
recipients, Citigroup, Morgan Stanley, Merrill Lynch and Bank of America,
received more than a trillion dollars each. The 5th largest recipient was
Barclays PLC. The 8th was the Royal Bank of Scotland Group, PLC. The 9th was
Deutsche Bank AG. The 10th was UBS AG. These four institutions each got between
a quarter of a trillion and a trillion dollars. None of them is an American
bank.
According to the Congressional Budget Office, the
income of the wealthiest one percent grew by 275 percent between 1979 and 2007
compared to just 18 percent for the bottom 20 percent of the income scale. Income inequality in the United States is the
highest it's been since the 1920s, with the 400 richest Americans - who are all
billionaires - having as much wealth as the bottom 50 percent of American
families. The cumulative wealth of the Forbes 400 was over
one and a half trillion dollars; the wealth of the top 1 percent is about 225
times greater than that of the typical family. And
we all remember what happened in the 20s, right? A great depression, followed
by a world war. Sound
familiar, in terms of the trajectory of current events? Thought
so.
We have been
distracted here and in Europe by a sudden panic over our "sovereign
debt" crises, when the real crisis is that our debt is NOT sovereign. We
are indentured to a Wall Street money machine that creates our money and lends
it back to us at interest, money our sovereign government could be creating
itself, with full democratic oversight and accountability to the people. We
have forgotten our roots, when the American colonists thrived on a system of
money created by the people themselves, debt-free and interest-free. The
continued dominance of the Wall Street money machine depends on that collective
amnesia. The fact that this memory is surfacing again may be the machine's
greatest threat -- and our greatest hope as a nation.
As if we
needed another confirmation that the sad joke of a market has now succeeded in
driving virtually everyone out courtesy of precisely the kind of bullshit we
saw in the last 30 minutes of trading today, here comes ICI with the latest
weekly fund flow data. It will not surprise anyone that in the week in which
the S&P rose by a whopping 8 points on absolutely nothing but more lies,
rumors and innuendo, US retail investors pulled a whopping $6.7 billion from
domestic equity funds: the most since the week after US downgrade when a near
record $23 billion was withdrawn. Only unlike then when the market bombed, this
time it simply kept rising, and rising, and rising. Intelligent people know what's coming,
and don't want to be anywhere near it, when it happens.
The
cash-strapped U.S. Postal Service says it wants to move quickly to close 252
mail processing centers and slow first-class delivery next spring, citing
steadily declining mail volume. At a news
briefing Monday, postal vice president David Williams said the agency wants to
virtually eliminate the chance for stamped letters to arrive the next day to
help avert possible bankruptcy next year. "Arrive
the next day." That's a laugh! I live on a tiny island, 40 miles measured
along the longest axis, and letters take 2-3 days to get anywhere on this rock.
Manufacturing
activity is contracting across Europe and most of Asia, data showed on
Thursday, and a Chinese official declared that the world economy faces a worse
situation than in 2008 when Lehman Brothers collapsed.
Madison
Ruppert, Contributing Writer
Activist Post Tracy
Lawrence, a 43-year-old notary who blew the whistle on the immense robo-signing
scandal was found dead in her home on Monday morning after failing to appear in
court. Lawrence had
plead guilty to one count of notary fraud last Monday after coming forward
earlier this month and confessing to notarizing roughly 25,000 documents in a
fraudulent foreclosure scheme...
Tracy
Lawrence, the notary public who blew the whistle on a massive foreclosure fraud
scheme, was found dead in her Las Vegas home on Nov. 28, MSNBC reported. Cause of
death has not yet been determined, but Officer Jacinto Rivera, a Las Vegas
Metropolitan Police Department spokesman, said the case was not being
investigated as homicide. She was 43. Earlier this
month, Lawrence came forward and admitted to the Nevada Attorney General's
Office that she notarized 25,000 fraudulent documents for Lender Processing
Services, a Florida company used by most major banks to process home
repossessions. The documents were filed with the Clark County Recorder's Office
between 2005 and 2008, The Los Angeles Times reported.
The message
from Germany is clear: there will be no bailout of the euro zone via monetizing
debt through bond purchases by the European Central Bank. This stance,
according to Chris Tinker, an equity strategist at Libra Investment Services in
London, means higher borrowing costs acting as a mechanism for pushing through
structural reforms. The end game
as far as Tinker is concerned is nothing short of re-molding Europe in
Germany’s “Teutonic image.” Oh
yes, it's all Germany's fault, because they won't play by the rules that make
the private central bankers rich and the people poor! So let us demonize those
who wish to live free from serfdom to the private bankers! Let us call them bad
names! Let us boycott them in order to destroy them and force them back into
their rightful servitude to the private central bankers! Of
course, the bankers tried that once before in 1933, when Germany threw out the
private central bank imposed on Germany by the Treaty of Versailles and adopted
a state issued value-based currency that transformed life for the German people
so dramatically it was called "The German Miracle" by the media.
So the bankers tried to organize a global boycott of Germany, to destroy this
upstart who wanted state issued value-based currency, which led to WW2, and
that did not work out too well for anyone, except the private central bankers,
who loaned both sides money for weapons, then more money for the
reconstruction.
So
here we are again with the German government trying to do what is best for the
German people, and the global bankers once again call them bad names and push
us one more step towards a world war. I
understand you can by nuclear weapons from Israel with no money down and easy
perpetual payments!
Yesterday we
wrote that according to a Handeslblatt report, Angela Merkel is
"investigating ways to enable countries to leave the Euro." Today
Handelsblatt has a follow up with some very critical clarifications which
change the equations of the European bailout all over again. Yesterday, the
Handelsblatt reported that the CDU "wants to make it possible for European
Union members to exit the euro area....A commission within the party, that is
crafting a framework to be presented at a party meeting, has proposed allowing
a euro member who doesn’t want to or isn’t able to comply with the common
currency rules to leave the euro region without losing membership in the EU,
the newspaper." In other words, the transition out would be
"voluntary."
U.S. banks
face a “serious risk” that their creditworthiness will deteriorate if Europe’s
debt crisis deepens and spreads beyond the five most-troubled nations, Fitch
Ratings said. The six
biggest U.S. banks -- JPMorgan Chase & Co. (JPM), Bank of America Corp.
(BAC), Citigroup Inc. (C), Wells Fargo & Co. (WFC), Goldman Sachs Group
Inc. and Morgan Stanley (MS) -- had $50 billion in risk tied to the GIIPS on
Sept. 30, Fitch said. So-called cross-border outstandings to France for all
except Wells Fargo were $188 billion, including $114 billion to French banks.
Risk to Britain and its banks was $225 billion and $51 billion, respectively. One has to
wonder when the next downgrade of the US's credit rating is going to happen,
between an unpayable Federal debt, and the crisis in the banking community.
Not only is
Germany at the epicenter of the Italian-Spanish-French save-us 'discussion',
they have now managed to add Ireland to their 'Uber Alles'. Reuters is
reporting the leak of confidential Irish budget information by German
lawmakers and Irish parliamentarians are seething - viewing the leak
as 'incredible' and 'unprecedented'. Given the new laws, Germany now
has the right to be fully informed about bailout countries' progress
before new tranches of funds are paid out. As the Irish Daily Mirror
put it perfectly "Germany is our new master."
Reuters: Ireland cries foul after German
budget leak The Irish government has complained to European
partners after confidential budget information shared with its EU-IMF lenders
was leaked by German lawmakers, sparking a political storm at home. The media
and opposition reacted furiously at the fact that the details of the
December budget were presented to German lawmakers before their Irish
counterparts, heightening fears that its EU-IMF bailout has undermined Irish
sovereignty. "Germany
is our new master," ran a banner front-page headline in the Irish Daily
Mirror.
In 2010, the
Census survey indicated that over 32 percent of children across the country
were living in poverty, compared to nearly 31 percent in 2009, bringing
the number of poverty-stricken US children to 15.7 million from the previously
recorded 14.7 million, Reuters reported on Thursday. Unflipping
believable.
Bloomberg
reports that Bank of America (BAC) has shifted about $22 trillion
worth of derivative obligations from Merrill Lynch and the BAC holding company
to the FDIC insured retail deposit division. Along with this information came
the revelation that the FDIC insured unit was already stuffed with $53 trillion
worth of these potentially toxic obligations, making a total of $75 trillion.
What is a
fallacy? A fallacy is basically a false idea that acts as an obstacle, which
prevents someone from understanding a particular topic. Fallacies are
quite often used in arguments as deceptive maneuvers to mislead a person who is
attempting to determine truth and make sense of a situation. Within the
studies of logic many of these fallacies are identified and given specific
names, this way one can more easily spot a misleading idea before it enters
their consciousness and becomes a part of their worldview. In the case
of the bailouts, our broken window is the untold trillions that were
transferred from the general public to various quasi-state corporations just
after the massive financial crash of 2008. At this point no one can be
sure of exactly how much money was transferred through these bailouts, but the
official figure continues to climb as more independent research and
investigation is carried out. At first the
government promised it would only be 700 billion dollars. Then in 2010
when the fed was forced to reveal details of their “back door bailouts”, the
public discovered that the number was actually 12.3 Trillion dollars. Some other
independent research even suggests that the number is much more than that, but
either way 12.3 Trillion would almost be enough to cover the national debt,
which passed 15 Trillion late last year. Just something to think about.
Then comes
this speech in the British upper house by Lord James Blackheath, a man of
supposedly wide experience of banking and finance, in which the speaker claims
to possess documents indicating that the US Fed was a participant in a fraud
involving the transfer of $15 trillion dollars from an Indonesian potentate to
the Royal Bank of Scotland.
But what of Bernanke's "secret,"
"not-to-be-repayed" "give away" to those undeserving
banksters?
"As a result of this audit, we now know that the Federal Reserve provided
more than $16 trillion in total financial assistance to some of the largest
financial institutions and corporations in the United States and throughout the
world," said Sanders. "This is a clear case of socialism for the rich
and rugged, you're-on-your-own individualism for everyone else."
So perhaps what is most puzzling about the $sixteen trillion is that the US Fed
does not do more to publicize the success of an operation that seems to have
cost the US taxpayer nothing, while possibly saving the World from a total
banking system collapse.
Is the world
on the verge of another massive global financial collapse? Yes. The western
world is drowning in an ocean of debt unlike anything the world has ever seen
before, and our financial markets are gigantic casinos that are dependent on
huge mountains of risk and leverage remaining very stable. In the end, this
house of cards that has been built on a foundation of sand is going to come
crashing down in a horrifying manner. Usually in this column I go on and on
about why things will soon get much worse. But today I am going to take a bit
of a break. Today, I am going to let some of the top financial professionals in
the world tell you why things will soon get much worse. Many of the quotes that
you are about to read just might make the hair on the back of your neck stand
up. There is a
tremendous lack of leadership both in the United States and in Europe right
now. The financial world is more interconnected than ever before, and
when the financial dominoes start to fall it is going to take a miracle to keep
a complete and total disaster from unfolding. So when the
time comes, who is going to step forward and provide that leadership? That is a
really, really good question. Right now,
panic and fear are spreading like wildfire in the financial world and nobody knows
for sure what is going to happen next. But one thing
is for certain. Pessimism is growing stronger by the day. The following
are 17 quotes about the coming global financial collapse that will make your
hair stand up…. #1 Credit
Suisse’s Fixed Income Research unit: “We seem to have entered the last days
of the euro as we currently know it. That doesn’t make a break-up very likely,
but it does mean some extraordinary things will almost certainly need to happen
– probably by mid-January – to prevent the progressive closure of all the euro
zone sovereign bond markets, potentially accompanied by escalating runs on even
the strongest banks.” #2 Willem Buiter, chief economist at Citigroup: “Time is
running out fast. I think we have maybe a few months — it could be weeks,
it could be days — before there is a material risk of a fundamentally
unnecessary default by a country like Spain or Italy which would be a financial
catastrophe dragging the European banking system and North America with it.” #3 Jim Reid of Deutsche Bank: “If you don’t
think Merkel’s tone will change then our investment advice is to dig a hole in
the ground and hide.” #4 David
Rosenberg, a senior economist at Gluskin Sheff in Toronto: “Lenders are
finding it difficult to finance their day-to-day operations with short-term
funding. This is a lot like 2008 but with more twists.” #5 Christian Stracke, the head of
credit research for Pimco: “This is just a repeat of what we saw in 2008, when
everyone wanted to see toxic assets off the banks’ balance sheets” #6 Paul Krugman of the New York Times:
“At this point I’d guess soaring rates on Italian debt leading to a gigantic
bank run, both because of solvency fears about Italian banks given a default
and because of fear that Italy will end up leaving the euro. This then leads to
emergency bank closing, and once that happens, a decision to drop the euro and
install the new lira. Next stop, France.” #7 Paul
Hickey of Bespoke Investment Group: “More and more, we are hearing
anecdotal comments from individual and professionals that this is the most
difficult environment they have ever experienced as the market is like a fish
flopping around after being taken out of the water.” #8 Bob Janjuah of Nomura International:
“Germany appears to be adamant that full political and fiscal integration over
the next decade (nothing substantive will happen over the short term, in my
view) is the only option, and ECB monetisation is no longer possible. I really
think it is that clear and simple. And if I am wrong, and the ECB does a U-turn
and agrees to unlimited monetisation, I will simply wait for the inevitable
knee-jerk rally to fade before reloading my short risk positions. Even if
Germany and the ECB somehow agree to unlimited monetisation I believe it will
do nothing to fix the insolvency and lack of growth in the eurozone. It will
just result in a major destruction of the ECB‟s balance sheet which will force
an ECB recap. At that point, I think Germany and its northern partners would
walk away. Markets always want short, sharp, simple solutions.” #9 Dan Akerson, CEO of General Motors:
“The ’08 recession, which was a credit bubble that manifested itself through
primarily the real estate market, that was a serious stress….This is much more
serious.” #10 Francesco Garzarelli of
Goldman Sachs: “Pressures on Euro area sovereign bond markets have
progressively intensified and spread like a wildfire.” #11 Jim
Rogers: “In 2002 it was bad, in 2008 it was worse and 2012 or 2013 is going
to be worse still – be careful” #12 Dr. Pippa Malmgren, the President and founder of
Principalis Asset Management who once worked in the White House as an adviser
to President Bush: “Market forces are increasingly determining what the options
are and foreclosing on options policymakers thought they had. One option which
is now under discussion involves permitting a country to temporarily leave the
Euro, return to its native currency, devalue, commit to returning to the Euro
at a better debt to GDP ratio, a better exchange rate and a better growth
trajectory and yet not sacrifice its EU membership. I would like to say for the
record that this is precisely the thought process that I expected to evolve,but
when I proposed this possibility back in 2009, and again in September 2010, I
had a 100% response from clients and others that this was “impossible” and many
felt it was “ridiculous”. They may be right but this is the current state of
the discussion. The Handelsblatt in Germany has reported this conversation, but
wrongly assumes that the country that will exit is Germany. I think that
Germany will have to exit if the Southern European states do not. Germany’s
preference is to stay in the Euro and have the others drop out. The problem has
been the Germans could not convince the others to walk away. But, now, market
pressures are forcing someone to leave. Germany is pushing for that someone to
be Italy. They hope that this would be a one off exception, not to be repeated
by any other country. Obviously, though, if Italy leaves the Euro and reverts
to Lira then the markets will immediately and forcefully attack Spain, Portugal
and even whatever is left of the already savaged Greeks. These countries
will not be able to compete against a devalued Greece or Italy when it come to
tourism or even infrastructure. But, the principal target will be France. The
three largest French banks have roughly 450 billion Euros of exposure to
Italian debt. So, further sovereign defaults are certainly inevitable, but that
is true under any scenario. Growth and austerity will not do the trick, as
ZeroHedge rightly points out. Ultimately, I will not be at all surprised to see
Europe’s banking system shut for days while the losses and payments issues are
worked out. People forget that the term “bank holiday” was invented in the
1930’s when the banks were shut for exactly the same reason.” #13 Daniel
Clifton, a policy strategist with Strategas Research Partners on the
potential for more downgrades of U.S. debt: “We would expect further
downgrades, a first downgrade from Moody’s and Fitch and possibly a second
downgrade from S&P.” #14 Warren
Buffett on the problems in the eurozone: “The system as presently designed
has revealed a major flaw. And that flaw won’t be corrected just by words.
Europe will either have to come closer together or there will have to be some
other rearrangement because this system is not working” #15 David
Kostin, equity strategist for Goldman Sachs: “The wide range of possible
outcomes on both the super committee process and the unstable political economy
in Europe drives our view that investors should assume the worst while hoping
for the best.” #16 Mark Mobius, the head of the emerging
markets desk at Templeton Asset Management: “There is definitely going to be
another financial crisis around the corner” #17 Gerald Celente, founder of The
Trends Research Institute: “The whole system is going down. Pull your money out
your Fidelity account, your Scwhab accout, and your ETFs.” Are you
starting to get the picture? When so many
top financial professionals are freaking out like this, perhaps the rest of us
should start paying attention. They are telling
us that “time is running out”. They are
telling us that “there is definitely going to be another financial crisis”. They are
telling us that this “is going to be worse” than 2008. They are
telling us that “the whole system is going down”. Yes, a devastating
financial collapse
really is coming. Just like in 2008, it will seem like the “end of the
world” while it is happening, but it won’t be. It will severely damage
our financial system and our economy, but it will not finish us off. Think of it
this way. When you build a sand castle at the beach, it doesn’t get
totally wiped out by the first wave or the second wave that hits it. Each
wave does significant damage, but the destruction of your sand castle is a
process. It is the
same thing with the U.S. economy. We once had the most incredible
economic machine that the world has ever seen. It is constantly being guttedand the financial crisis of 2008 hit us
really hard, but we are still doing okay. After this
next financial crisis we will be in even worse shape. But we will still
be breathing. More “waves”
will come after this next financial crisis. If we continue on the road
that we are on, our economy will progressively get worse and worse. Not everyone
will agree with this analysis, and that is okay. In the end, time will reveal
the truth to all of us. Right now, we
all need to get ready for the next wave that is about to hit us. A lot of
people are going to lose their jobs over the next few years. Hopefully
you are prepared for that.
We're done
folks. CNBC is
reporting that there are now clients running out of the markets entirely
because they do not believe their customer funds are safe. That's the
end of it. The belief that there are more MF Globals has now taken hold. The
thieves have pushed it too far and now we've got the start of a global
liquidity run, and with good reason. The
authorities both in the regulatory side and on the prosecutorial side have
refused to put a stop to the thievery and now the risk factors have turned into
realized risk.
This video from
the Infowars Nightly News covers the gamut of
current scandals.
First, MF Global, the financial services company, raided some of
it's customers accounts stealing hundreds of millions in an
internal bank run just prior to declaring bankruptcy.
Moving on from there, Aaron Dykes covers the fact that the crackdown
on the Occupy Wall Street movement was organized federally by the
Department of Homeland Security, an agency created to fight
'terrorism'.
This is what
the Occupy Movement is about! There is one set of laws for us normal folks
compared to banks and corporations! This is so
unbelievable and it is hard to understand how it is possible. How is it the
most blatant stealing of money by a Wall Street Broker out of it's clients
accounts and there have been no arrest or charges filed against anyone? It is being found 1.2 Billion has been stolen from
people's accounts at MF Global, not 600 Million! No one at MF Global, including its former chief
executive, Mr. Corzine, has been accused of wrongdoing.
Money is on
the move, and one is left pondering how the markets would have functioned had
the European Central Bank (ECB) not been there with substantial ongoing
support. Troublingly,
there was heightened focus on counterparty and derivative issues, including US
bank exposure to European debt, the sovereign credit default swap marketplace
and other counterparty exposures. Fear that EU governments will be forced to
recapitalize their faltering banking systems has weighed heavily on already
depleted confidence in the creditworthiness of sovereign credit. Increasingly,
the credit standing of France, residing near the epicenter of Europe's
"core", is imperiled by the possibility of a massive bank
recapitalization program. This
could get very ugly, very quickly.
It appears
that the key news of the day was not the fluff about the IMF which as we said
was total non-news, but adverse news from the Fed which just announced that it
is launching its 2012 bank stress test which unlike previous iterations may
actually demand capital raises from US banks. Those banks
are Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase, Morgan Stanley
and Wells Fargo. The problem
is that next steps will certainly involve tens of billions in capital raises
demanded of the above six banks (and probably Jefferies) by the Fed. Not
surprisingly, ES has collapsed on the news to just over 1180. One has to
wonder from just where and how those banks will raise their capital, after
these tests, and what if they cannot?!?
Barack Obama
has read the riot act to the leaders of several European countries - saying
more dramatic action is needed to avert a eurozone meltdown. The U.S.
President made telephone calls to German Chancellor Angela Merkel, French
President Nicolas Sarkozy and Italian President Giorgio Napolitano late last
night. Treasury
Secretary Timothy Geithner said the president had demanded faster action from
Europe. Obama
recognises that if the European banks fail, it will have a disastrous effect on
the US economy, and send it into an absolute full-tilt meltdown. But
the Eurozone may well collapse, and in the not very distant future, either.
There is a dictatorship of the mind and spirit in America. The official
ideology of the U.S. totalitarian state is counter-terrorism and national
security. All domestic and foreign crimes are justified under the umbrella of
security and defense. The false flag September 11 attacks served as the
catalyst that brought this totalitarian ideology into being on a world stage.
The attacks also had the effect of putting the American people into a
psychological state of subservience towards the government and power elite. As
a result, the free will of the American people has been destroyed. The minds of
the people are directed at non-existent terrorists like Al Qaeda and
non-threatening countries like Iraq and Iran for one single purpose: to
generate insecurity in the individual so that he/she supports the false and
permanent war on terror.
2. Paradigm.
What exists in Washington is one party dictatorship with two political
factions. Super committee or no super committee, republican or democrat, the
will of the power elite will prevail over the will of the people under the
current system.
The false left-right political paradigm enables the power elite to remain in
control and continue to loot America without being discovered as the real enemy
of the American people.
The one party dictatorship also means that there is no accountability for the
political leadership. Both Republicans and Democrats have stabbed America in
the back. This political fact has led to the collapse of the American people's
trust in the federal government and Congress.
What lies ahead is social unrest, political collapse, and revolution.
3. Militarization.
Militarized cities are occupied cities.
Urban space is regulated by the hijacked government not to defend the interests
of the public but to acquire greater power for the treasonous elite and
suppress patriotic dissent.
Essentially, the power elite have turned public space into an urban war zone.
An atmosphere of war is created in the public mind, giving the mentally
occupied individual two choices: either side with the loving and protective
government, or the dangerous and scary domestic terrorists.
"With respect to where we are now with
the crackdown on Occupy Wall Street, take a look at the way the enforcers are
garbed, take a look at the techniques they use. We're living in what is
essentially a prison society."
In the prison society that Grigg talks
about, the police officer is a guard and the citizen is an inmate who is
considered guilty and a potential violent threat to the state. The rule of law
is not defended. Instead, police officers are brainwashed and used to rape the
public in the name of security.
4. Culture.
The manipulation of mass culture by the elite is part of a larger war against
the mental integrity of the individual and the free will of the people. The
whole edifice of mainstream culture in the West is designed to control thought
and speech. As Terence McKenna said, "Culture is
not your friend . . .It insults you, it disempowers you, it uses and abuses
you. None of us are well treated by culture. And yet we glorify the creative
potential of the individual, the rights of the individual. We understand the
felt-presence of experience is what is most important. But the culture is a
perversion."
The culture that is being produced creatively by the alternative media,
underground music, and other cultural avenues is countering the official
totalitarian culture that is handed down by authoritarian governments,
corporate elites, and the treasonous media. The harm that the official culture
is doing to the average individual cannot be overstated. State propaganda and
predictive programming techniques are regularly used in T.V. programming and
films to control behavior and thoughts. People have been turned into animals
under this psychological prison system.
5. Drugs.
Pharmaceutical drugs are promoted and sold by the government and television,
but natural drugs are suppressed and persecuted. Many of these natural drugs
have the effect of opening the individual's minds to amazing experiences and
new conceptions of life and the universe.
The mind is liberated from the routine of everyday life and everyday thoughts
when natural drugs like mushrooms are taken, and this experience has political
implications, as McKenna said. When people start seeing the world in a
different light they don't go back to believing in the fictions and fantasies
of the mainstream matrix. The road to intellectual discovery opens up, and the
individual begins to search for answers to both personal and political
questions.
6. Fear.
Creating fear and chaos is the modus operandi of the U.S. shadow totalitarian
state, and of all totalitarian states. Keeping the people in a state of fear
and mental insecurity enables political leaders and the criminal power elite to
remain in a dominant position in society.
The pumping up of external enemies is the best way to keep the people
submissive and scared. But enemies don't fall out of the sky. Enemies in modern
totalitarian nations like Iran and America are made by political elites who painstakingly
design a propaganda-oriented society that is constantly fed lies and
disinformation.
Propaganda, however, is not enough to generate fear about an outside enemy. The
manufacturing of dramatic events like the 9/11 attacks, 7/7 attacks, and the Iranian
hostage crisis are necessary to create the image of the external enemy in the
public mind of a nation.
There is nothing like drama and fear. 9/11 showed that slow-moving societies
need explosive and dramatic acts of murder if they are to be moved in a certain
direction by political elites in a short period of time. Without drama, without
blood, without fear, without murder, without creating a public spectacle,
elites cannot attain their dreams of war and revolution.
Fear shuts down critical thinking and makes people even more stupid than they
already are, which is why the religious zealots in Iran and the globalist
terrorists in the West both use fear as a political tool.
7. Language.
The thought police in the totalitarian
state love the magic of words because it can shape public perceptions about
major events, political figures, and dissidents.
McKenna said that language
creates reality. This happened in the immediate hours and days after the 9/11
attacks, when American and Israeli politicians, "journalists," and
national security experts went on television and used the power of the global
communication system to put out the false narrative that Al-Qaeda was
responsible for the terrorist act.
8. Stigma.
The power of social stigma, shame, and ridicule cannot be overstated. Society
is governed in this matter by criminal rulers who don't like to use force to
dominate the people and keep their privileges.
In totalitarian societies, truth-tellers are treated like outcasts and driven
outside of the community while the biggest liars and mass murderers lead the
nation. This is the case in America, Iran, Israel, England, and many other
countries.
In a just world, unjust men like Khomeini, Reagan, Bush, Clinton, Cheney, Bush
II, and Obama would not just be shamed, but hanged, and buried in the sea.
But the reverse is happening.
Murderers and traitors like Reagan, Khomeini, Bush, and Obama are called
saviors of the nation and defenders of freedom, while real heroes are shamed
and ridiculed as "paranoid conspiracy theorists," and "domestic
terrorists."
Millions of truth-tellers in America and the West are silenced and stigmatized.
But where
protest is peaceful -- maybe loud, maybe deliberately annoying, combative in
its rhetoric, even possibly illegal, yet not actually violent or dangerous --
treating it the way a state normally treats an outside military threat will
give many Americans, across a broad political spectrum, a gut problem. Again, people with skills and kids,
please consider getting out of the country while you still can; the window for
such an escape is closing exponentially. And if you think I'm an over the top
Mrs. Chicken Little on this issue, please take a look at Senate Bill S 1253. A sinister bill has quietly been
introduced, so expansive in scope and dangerous in nature that it makes the
PATRIOT Act look like the Bill of Rights. By Madison
Ruppert Editor of End the Lie
Will
we allow horrors like this to happen to Americans in the United States?
A sinister
bill has quietly been introduced, so expansive in scope and dangerous in nature
that it makes the PATRIOT Act look like the Bill of Rights. This bill,
the National Defense Authorization Act (NDAA) for Fiscal Year
2012, or S. 1253, has received tragically sparse coverage and I must admit that
I was not aware of it until a reader emailed me about it. If you think
the PATRIOT Act is bad, just wait until you check out sections 1031, 1032,
1033, and 1036 of this horrific bill. The American
Civil Liberties Union (ACLU) wrote a letter to the Senate Judiciary Committee on July 1st
of this year, addressed to the Chairman of the Committee, the “Honorable”
Patrick Leahy, and Ranking Member of the Committee, the “Honorable” Charles
Grassley which strongly decried the bill. The title of
the four page letter itself reveals the truly dangerous nature of this legislation,
“Judiciary Committee Should Assert Its Jurisdiction Over Those Aspects of the
Detention Authority Provisions in S. 1253, the National Defense Authorization
Act for Fiscal Year 2012 (Sections 1031, 1032, and 1036), That Affect Civilians
Who Are Otherwise Outside of Military Control, Including Civilians Within the
United States Itself.” If these
provisions are enacted, it would give the federal government the explicit power
to imprison civilians, including American citizens, indefinitely with no charges
or trial. This would
include individuals apprehended both inside and outside of the United States,
meaning that this could give the federal government the ability to openly
detain American citizens for their entire lives without so much as a single
charge. While the
federal government already murders American citizens abroad based upon the
decision of an unlegislated secret death panel within the National Security
Council, this would be the first time since 1950 that Congress has
explicitly authorized indefinite detention of Americans without charges or a
trial. This
provision includes people who had absolutely no role in the attacks of
September 11th, 2001, or any hostilities whatsoever and would
mandate military detention of certain civilians. This includes
civilians arrested within the United States who would otherwise be outside of
military control while also transferring all responsibilities to the Department
of Defense. Instead of
the Department of Justice’s Criminal Division, National Security Division, or
the United States Attorneys, the Federal
Bureau of Investigation, the Bureau of Prisons, the Marshals Service
and/or the state attorneys general handling the prosecutorial, investigative, law enforcement, penal and custodial authority, the
Department of Defense would handle it all. That means
that all control would be taken out of the hands of civilians and put into the
brutal grip of the American military, essentially this would mean a military
takeover of our so-called justice system. All they
would have to do is classify you as a terrorist, no need for actual charges or
participation in hostilities; you could be locked up indefinitely for any
reason or no reason at all if the Department of Defense saw fit under this
NDAA. This is so
fundamentally un-American, the ACLU can’t help but right that the provisions
are “inconsistent with fundamental American values embodied in the Constitution
and in the country’s adherence to the rule of law.” These
provisions of the NDAA are so radical that they actually remove much of the
protections American citizens have had since 1878 under the Posse
Comitatus Act and the Non-Detention
Act of 1971. Section 1031
of S. 1253 would be the first time in more than 60 years that our so-called
representatives in Washington would allow indefinite
detention of American citizens with no charges or trial without Congressional
authorization. Since 1971
the Non-Detention Act has stipulated, “No citizen shall be imprisoned or
otherwise detained by the United States except pursuant to an Act of Congress,”
but S. 1253 could make this a thing of the past. The ACLU
points out that while Subsection 1031(c) of S. 1253 claims that it does not
apply to lawful residents of the United States or citizens “on the basis of
conduct taking place within the United States except to the extent permitted by
the Constitution,” glaring loopholes remain. If the
government’s track record is any indicator, we can expect these loopholes to be
exploited at every possible opportunity. Just as the
federal government has used the PATRIOT Act’s so-called “Sneak-and-Peek,” or
delayed notice, warrants for
over 1,600 drug cases and only 15 cases of terrorism in 2006-2009, we can
expect the government to use S. 1253 for detaining people for completely
illegitimate reasons. These
loopholes allow suspects to be imprisoned without charge or trial, especially
citizens or lawful residents who are suspected of some sort of wrongdoing
outside of the United States. The most
unsettling aspect is that the deciding factor in determining if an
individual can be detained indefinitely is not any proof of guilt, but instead
entirely by officials in the Executive Branch, which,
according to the ACLU would be “following some future agency regulations.” This, just
like the unlegislated death panel that resulted in the killing of Anwar al-Awlaki and his 16-year-old son, leaves
it up to the Executive without any guidelines whatsoever. It is quite
shocking how much the federal government is attempting to push us towards a
dictatorship with no legal protection whatsoever from being locked up with no
hope of a fair trial or even charges. Indeed the
legislation would allow American citizens to be imprisoned “until the end of
hostilities” under 2001′s Authorization for Use of Military Force, or S.J. Res. 23. Yet this
represents no concrete time frame whatsoever and Section 1031 would allow
American citizens and non-citizen civilians who had no role in 9/11 or any
other hostilities whatsoever to be detained who would otherwise not be detainable
under the laws of war. Section 1032
puts civilians who would otherwise not be subject to military control into
military detention, thus removing the protections of the Posse Comitatus act. Like Section
1031, this would include indefinite imprisonment of civilians apprehended
inside of the United States, Section 1032 does not authorize the military to
detain civilians without charge or trial, it in fact it mandates it. The
protection against the government using the military for law enforcement activities
within the United States under Posse Comitatus would be eliminated under
Section 1032 and the ACLU points out that, “all state and federal law
enforcement would be preempted by the military.” Previously
the state and local law enforcement agencies and the Department of Justice had
the primary responsibility to enforce anti-terrorism laws within the United
States. The NDAA
would, in the case of many civilian suspects, remove federal state and local
law enforcement from the process of investigation, arrest, criminal prosecution
and imprisonment and hand said powers over to the military. The ACLU
“strongly urges” the Senate’s Judiciary Committee to conduct hearings on
sections 1031, 1032, and 1036 and assert their jurisdiction to mark up these
sections before the NDAA makes it to the Senate floor. They say that
the Judiciary Committee should assert their jurisdiction over these provisions
in order to prevent civilian law enforcement against civilians who would
otherwise be out of the purview of the military to fall into the hands of the
military. The ACLU’s
letter does not, however, cover Section 1033 which Human Rights Watch claims
would apply to the many detainees already being held for years without trial
who have been cleared for release. In a form letter with the subject, “Stop Militarization of Law
Enforcement” they write that Section 1033 would, “force the administration,
for example, to continue to hold a Guantanamo detainee simply because they were
from a country of an accused terrorist.” I highly
recommend that you send out this form letter along with a note written by
yourself to all of your supposed representatives, along with as many phone
calls as you can afford to make it clear that you do not support the United
States being turned into a total militarized police state. While we are
already in dire straights in terms of civil rights in this country, codifying
indefinite military detention into law is one of the most dangerous
developments since the introduction of the PATRIOT Act. If you even
remotely care about the principles of freedom, liberty and justice which this
nation is supposed to stand for, you will do us all a favor and stand up
against this wholly unacceptable legislation that could represent the end of
America as we know it.
Costos
Panayotakis: Movement united in the streets but divided on how to take power. The reason Papandreou is out is that
the central bankers will never allow the Greek people to vote themselves free
of the central bank. That narrows down the options.
Greece is
relying on Iran for most of its oil as traders pull the plug on supplies and
banks refuse to provide financing for fear that Athens will default on its
debt.
Eurozone bond
markets suffered from a mass sell-off yesterday - with previously healthy
economies finding themselves sucked into the debt crisis. The yield on
French government bonds climbed to 3.63 per cent. With the German equivalent at
just 1.75 per cent, the difference between what it costs Paris and Berlin to
borrow is at its highest level since the euro was established in 1999. And an
influential report added to market nerves with a claim that the French economy
is the 17-member eurozone's second biggest but only the 13th healthiest.
Citigroup
Inc. is considering plans to cut 3,000 or more workers as part of an ongoing
effort to control expenses. That would
amount to about 1 percent of the New York-based bank's work force. A person
with knowledge of the situation says decisions haven't been finalized, but that
the job cuts could exceed 3,000 in the next year or so. This
will only be a tip of the iceberg, if the American financial industry goes into
full total meltdown.
The head of
China's biggest ratings agency, Dagong Global Credit Rating, is warning that it
may downgrade the US's sovereign debt rating again because of Washington's
failure to tackle the federal budget deficit. In August it
downgraded US debt again, to A. Days later, Standard & Poor's followed in
its wake, becoming the first western agency to downgrade US debt after the
threat of a default was narrowly avoided following weeks of political
squabbling in Washington over whether President Obama should be allowed to raise
the US debt ceiling. If Dangong makes this move, it may well
have reverberations across the entire globe in terms of the US credit rating. And Guan Jianzhong is absolutely
correct, when he makes the statement to the effect that the US government has
dug itself into a hole so deep financially, that the only tool left to is to do
more quantitative easing (read: printing more money, which has absolutely zero
backing), creating more inflation, and completely destroying the value of any
savings US citizens may have.
“My concern
about the legislation is that if the GAO is auditing not only the operational
aspects of our programs, and the details of the programs, but is making
judgements about our policy decisions, that would effectively be a takeover of
the monetary policy by the Congress, a repudiation of the independence of the
Federal Reserve, which would be highly destructive to the stability of the
financial system, the dollar, and our national economic situation” -- Ben
Shalom Bernanke, Chairman of the Federal Reserve, from 2:05 to 2:32). ‘Article 1, Section 8, clause 5 of the
Constitution: The Congress shall have power to coin money, [and to] regulate
the value thereof and of foreign coin.’ Ben, Congress is SUPPOSED to be in
charge of monetary policy, not a privately owned banking cartel! Furthermore.,
Congress cannot delegate that authority over monetary policy without a
Constitutional Amendment. Italy and Greece just had their civil
governments put into the hands of private bankers. It appears that Ben Bernanke
is of the opinion that this was already accomplished here in the United States
back in 1913.
The first
ever GAO(Government Accountability Office) audit of the Federal Reserve was
carried out in the past few months due to the Ron Paul, Alan Grayson Amendment
to the Dodd-Frank bill, which passed last year. Jim DeMint, a Republican
Senator, and Bernie Sanders, an independent Senator, led the charge for a
Federal Reserve audit in the Senate, but watered down the original language of
the house bill(HR1207), so that a complete audit would not be carried out. Ben
Bernanke(pictured to the left), Alan Greenspan, and various other bankers
vehemently opposed the audit and lied to Congress about the effects an audit
would have on markets. Nevertheless,
the results of the first audit in the Federal Reserve’s nearly 100 year history
were posted on Senator Sander’s webpage earlier this morning: http://sanders.senate.gov/newsroom/news/?id=9e2a4ea8-6e73-4be2-a753-62060dcbb3c3 What was
revealed in the audit was startling: $16,000,000,000,000.00 had been secretly given
out to US banks and corporations and foreign banks everywhere from France to
Scotland. From the period between December 2007 and June 2010, the Federal
Reserve had secretly bailed out many of the world’s banks, corporations, and
governments. The Federal Reserve likes to refer to these secret bailouts as an
all-inclusive loan program, but virtually none of the money has been returned
and it was loaned out at 0% interest. Why the Federal Reserve had never been
public about this or even informed the United States Congress about the $16
trillion dollar bailout is obvious — the American public would have been
outraged to find out that the Federal Reserve bailed out foreign banks while
Americans were struggling to find jobs. To place $16
trillion into perspective, remember that GDP of the United States is only
$14.12 trillion. The entire national debt of the United States government
spanning its 200+ year history is “only” $14.5 trillion. The budget that is
being debated so heavily in Congress and the Senate is “only” $3.5 trillion.
Take all of the outrage and debate over the $1.5 trillion deficit into
consideration, and swallow this Red pill: There was no debate about whether
$16,000,000,000,000 would be given to failing banks and failing corporations
around the world. In late 2008,
the TARP Bailout bill was passed and loans of $800 billion were given to
failing banks and companies. That was a blatant lie considering the fact that
Goldman Sachs alone received 814 billion dollars. As is turns out, the Federal
Reserve donated $2.5 trillion to Citigroup, while Morgan Stanley received $2.04
trillion. The Royal Bank of Scotland and Deutsche Bank, a German bank, split
about a trillion and numerous other banks received hefty chunks of the $16
trillion. Americans
should be swelled with anger and outrage at the abysmal state of affairs when
an unelected group of bankers can create money out of thin air and give it out
to megabanks and supercorporations like Halloween candy. If the Federal Reserve
and the bankers who control it believe that they can continue to devalue the
savings of Americans and continue to destroy the US economy, they will have to
face the realization that their trillion dollar printing presses will
eventually plunder the world economy. The list of
institutions that received the most money from the Federal Reserve can
be found on page 131 of the GAO Audit and are as follows.. Citigroup: $2.5
trillion ($2,500,000,000,000)
Morgan Stanley: $2.04 trillion ($2,040,000,000,000)
Merrill Lynch: $1.949 trillion ($1,949,000,000,000)
Bank of America: $1.344 trillion ($1,344,000,000,000)
Barclays PLC (United Kingdom): $868 billion ($868,000,000,000)
Bear Sterns: $853 billion ($853,000,000,000)
Goldman Sachs: $814 billion ($814,000,000,000)
Royal Bank of Scotland (UK): $541 billion ($541,000,000,000)
JP Morgan Chase: $391 billion ($391,000,000,000)
Deutsche Bank (Germany): $354 billion ($354,000,000,000)
UBS (Switzerland): $287 billion ($287,000,000,000)
Credit Suisse (Switzerland): $262 billion ($262,000,000,000)
Lehman Brothers: $183 billion ($183,000,000,000)
Bank of Scotland (United Kingdom): $181 billion
($181,000,000,000)
BNP Paribas (France): $175 billion ($175,000,000,000)
and many
many more including banks in Belgium of all places View the
266-page GAO audit of the Federal Reserve(July 21st, 2011): http://www.scribd.com/doc/60553686/GAO-Fed-Investigation Source: http://www.gao.gov/products/GAO-11-696
FULL PDF on GAO server: http://www.gao.gov/new.items/d11696.pdf
Senator Sander’s Article: http://sanders.senate.gov/newsroom/news/?id=9e2a4ea8-6e73-4be2-a753-62060dcbb3c3
Goldman Sachs
Group Inc faces lawsuits over $15.8 billion worth of mortgage securities, the
bank said in a regulatory filing on Wednesday, a more than 30-fold increase
from the amount disclosed three months earlier. The aggregate
figure, which is up from $485 million previously, does not represent how much
money Goldman management estimates it may lose on the litigation. Goldman
lifted that estimate of "reasonably possible" losses to $2.6 billion
from $2 billion. The bigger
dollar figures come as investors in mortgage-backed bond deals have raced to
take legal action or enter settlement negotiations before statutes of
limitations expire, and as investors continue to worry about banks' exposure to
big lawsuits.
650,000
customers moved $4.5 billion dollars out of the big banks and into smaller
banks and credit unions in the last month. But there is
a myth making the rounds that the big banks don’t really care if we move our
money. For example, one line of reasoning is that no matter how many people
move their money, the Fed and Treasury will just bail out the giants again. But many
anecdotes show that the too big to fails do, in fact, care.
Bank branches
and ATMs across the country saw a surge in traffic during the last month, which
pinnacled over the weekend as Americans from coast-to-coast accessed their
accounts, withdrew their money and went elsewhere. With November
5 being hailed as Bank Transfer Day, the final day in a month-long
demonstration to move money from out of the big banks and into smaller,
localized credit unions, the tally of those that took up the cause has come
through and it shows that the movement was more than just a fluke. Leading up
to November 5, $4.5 billion was taken out of major financial institutions.
Banks
including BNP Paribas and ING are ditching billions of euros of euro zone
government bonds, cutting their exposure to the region's trouble spots. More lenders
are expected to retreat as the euro zone crisis deepens and leaders raise the
possibility of the exit of Greece from the bloc, further damaging prices. "The
market value of the debt of the countries most under scrutiny is likely to
decline further as banks unload sovereign bonds," Charles Dallara,
managing director of the Institute of International Finance, warned on
Wednesday.
s the social
media-sparked Bank Transfer Day approaches, the Credit Union National
Association (CUNA) reports that over 650,000 people have joined credit unions
in the last four weeks.
Two brothers
and their father were sentenced to death on Monday for cheating 15,000
investors out of over $1.1 billion in east China’s Zhejiang province. We
need more of that here!
The following
are 12 statistics about money and Congress that are so outrageous that it is
hard to believe that they are actually true.... #1 The collective net worth of all
of the members of Congress increased by 25
percent between 2008 and 2010. #2 The collective net worth of all
of the members of Congress is now slightly
over 2 billion dollars. That is "billion" with a
"b". #3 This happened during a time when
the net worth of most American households was declining rapidly. According
to the Federal Reserve, the collective net worth of all American households decreased
by 23
percent between 2007 and 2009. #4 The average net worth for a
member of Congress is now approximately 3.8
million dollars. #5 The net worth of House Minority
Leader Nancy Pelosi increased by
62 percent from 2009 to 2010. In 2009 it was reported that she had a
net worth of 21.7 million dollars, and in 2010 it was reported that she had a
net worth of 35.2 million dollars. #6 The top Republican in the
Senate, Mitch McConnell, saw his wealth grow by
29 percent from 2009 to 2010. He is now worth approximately 9.8
million dollars. #7 More than 50 percent of the
members of the U.S. Congress are millionaires. #8 In 2008, the average cost of
winning a seat in the House of Representatives was $1.1
million and the average cost of winning a seat in the U.S. Senate was $6.5
million. Spending on political campaigns has gotten way out of
control. #9 Insider trading is perfectly legal for members
of the U.S. Congress - and they refuse to pass a law that would change that. #10 The percentage of millionaires
in Congress is more than 50 times higher
than the percentage of millionaires in the general population. #11 U.S. Representative Darrell Issa
is worth approximately 220 million dollars. His wealth grew by
approximately 37
percent from 2009 to 2010. #12 The wealthiest member of
Congress, U.S. Representative Michael McCaul, is worth approximately 294
million dollars. So how are
members of Congress becoming so wealthy? Well, there
are lots of ways they are raking in the cash, but one especially alarming thing
that goes on is that members of Congress often make investments in companies
that will go up significantly if legislation that is being considered by
Congress "goes the right way". This is
called a "conflict of interest", but it happens constantly in
Congress and nobody seems to get into any trouble for it.
Dig deeper
into the pages of U.S. Bureau of Labor Statistics employment data and it
becomes apparent that while the job market is slowly improving for most
Americans, it’s moving in the opposite direction for Gulf War II vets (defined
by the BLS as those on active duty since 2001). The youngest of veterans, aged
18 to 24, had a 30.4 percent jobless rate in October, way up from 18.4 percent
a year earlier. Non-veterans of the same age improved, to 15.3 percent from
16.9 percent. For some groups, the numbers can look a good deal worse: for
black veterans aged 18-24, the unemployment rate is a striking 48 percent. Military
skills frequently do not translate into the civilian corporate world. With
very few exceptions, if these Vets were told anything to the contrary, when
they were recruited, they were lied to just for the sake of recruiters
reaching their quotas.
Residential
property prices are in freefall in China as developers race to meet revenue
targets for the year in a quickly deteriorating market. The country’s largest
builders began discounting homes in Shanghai, Beijing, and Shenzhen in recent
weeks, and the trend has now spread to second- and third-tier cities such as
Hangzhou, Hefei, and Chongqing.
New report shows the number of US homeowners
underwater is much higher than official government estimates.
New
report shows the housing outlook is getting worse.
---
By
CNBC's Diana Olick
Reprinted with permission.
A
new report on still
falling home prices today highlights the fact that the lower those
prices go, the more American borrowers fall into an negative equity position;
that is, they owe more on their mortgages than their homes are worth.
Many
of those borrowers are already behind on their mortgage payments, and some are
likely already in the foreclosure process. The rest of them are in danger of
defaulting, not because they can't pay their mortgages, but because they either
won't want to (seeing as they will never see any real appreciation in their
investment) or because any change in their economic or personal situation might
force them into default (change of job, divorce).
While
14.6 million might seem like a lot, it's not the real number when you consider
negative equity in housing's recovery. That's because it doesn't factor in
"effective" negative equity, which is borrowers who have so little
equity in their homes that they cannot afford to move.
Consider
the following from mortgage analyst Mark Hanson:
On US totals, if you figure
average house prices use conforming loan balances, then a repeat buyer has to
have roughly 10 percent down to buy in addition to the 6 percent Realtor fee to
sell. Thus, the effective negative equity target would be 85%. You also have to
factor in secondary financing, which most measures leave out.
Based on that, over 50 percent
of all mortgaged households in the US are effectively underwater — unable to
sell for enough to pay a Realtor and put a down payment on a new purchase
without coming out of pocket. Because repeat buyers have always carried the
market as the foundation, this is why demand has not come back. It's as if half
the potential buyers in America died over a two-year period of time.
More than two decades of unabated government spending, and the end result
is a $13 trillion national debt, a dead economy, and some very pissed-off young
people. Are you paying attention Paul Krugman?
IMF's
Managing Director Christine Lagarde urged the Russian administration not to
increase the public spending. Lagarde said that she was giving only friendly
pieces of advice to Russia and added that she had received the Order of
Friendship from the Russian administration. According to
her, public spending was not a very healthy phenomenon, especially before the
elections. However, it is clear that Lagarde was not talking about the spending
connected with the elections only. The IMF's chairwoman does not like the
payments to weakly protected layers of the population, the increase of spending
on defense and law-enforcement bodies. Aside from that, Christine Lagarde is
concerned about the fundamental reorganization of Russia's entire road
infrastructure. IMF
Director Christine Lagarde wants Russian not to spend their money on social
projects benefiting Russians, but instead to privatize the national assets, and
reduce public spending, forcing Russia to live on the mercy of IMF handouts, by
buying food products from Western Europe. Russia
tried and failed that era of complete privatization which created the worst
Oligarchs society on the planet (not unlike what Wall Street has done to the
USA). It
was Putin who put Russia on the right track, and not IMF charity. Russia is a
very rich country in resources and Lagarde is unhappy to see Russia lost as one
of its potential treasure houses. Of
course, as recent history has shown, refusal to submit to private central banks
like the Fed, the ECB, and the IMF, results in invasion by the United States.
President
Barack Obama’s new senior campaign adviser is a longtime Wall Street lobbyist,
and has the potential to damage the president’s aspirations to appeal to the
protesters currently “occupying” New York City’s Zuccotti Park. Obama’s new
adviser, Broderick Johnson, has an extensive history of lobbying for big banks
and corporations, according to the Center for Responsive Politics. In 2007, he
lobbied for JP Morgan Chase and in 2008 Johnson lobbied for Bank of America and
Fannie Mae. From 2008 through 2010, he lobbied for Comcast and in 2011 he
lobbied for Microsoft.
THE scene:
the war games suite of the mightiest military power in the world.
The guests were assembled in the Warfare Analysis Laboratory, surrounded by
uniformed officers from the highest levels of the Pentagon and a dizzying array
of screens normally used to simulate nuclear world war.
The gentlemen were called to order and the games began. "If you
imagine the war room in Dr. Strangelove, you're not far off," says
participant James Rickards.
Yet this was no traditional battle game, but rather the Pentagon's first
economic war game, and the authorities are loath to talk about it. Economic war?
It sounds preposterous. Except it gets less so with every dollar of debt run up
by the US.
Rickards is not a soldier but a banker.
He was joined in the war game by dozens of his Wall Street colleagues, flown in
from Manhattan to this bunker at the Applied Physics Laboratory in Maryland for
the two-day event in 2009, when the Pentagon started to get really alarmed.
The group was split into five teams: America, Russia, China, Pacific Rim, and a
"grey team", representing shady outfits such as terrorist
organisations. They were sent into "bunker rooms" and told to use
financial or economic tools - currency, debt, stocks, gold - to bring their
enemies to their knees. Everything was conducted via computer, and they could
be as devious and ruthless as they liked. The bankers liked.
"These people would normally never come together. But there is nothing
more fun than to take a Wall Street guy and tell him to be a bad guy,"
says Mr Rickards, a former senior executive who was involved in planning and
executing the war game.
When the game was halted, the result left the military men quiet and sobered.
Why did the bankers scare the soldiers? The answer lies in the way the world is
now interconnected as never before.
Over the past few years, China has been buying up US government debt and is now
its biggest holder. If China were to dump this debt, it would totally screw
with the economy. China could, hypothetically, win any number of foreign policy
objectives by making it impossible for you to pay your mortgage.
Paul Bracken is a professor and expert in private equity at the Yale School of
Management who serves on government advisory committees at the US Department of
Defence. He was one of the key players behind the 2009 economic war game, and
the smaller versions that have been played out since.
"The atmosphere that day was one of surprise at the magnitude of the
threat," he says.
"The Pentagon people were used to dealing in terms of military battles:
how many ships, how many missiles. This opened up whole new strategies."
Catherine Austin Fitts said we are witnessing a
Leveraged Buyout of the world that will permanently end democracy. The elite
has bought all the politicians and the media. They have stolen enough money to
earn 2 trillion dollars a year from their investments. She said 2 trillion
dollars a year is sufficient to fund a world government. Wall Street and the City of London have been given
more money in Bailouts than the total amount of money the United States spent
on all of its wars. Wall Street was also allowed to steal 4 trillion dollars
from federal spending that we are not allowed to audit. When she was Housing
Commissioner in the first Bush administration, she once saw on one city block
ten government guaranteed loans on buildings that never existed. Separately
from that Jim Willie has said when the Federal Reserve sells Treasury bonds,
they sell more than the deficit. This fraud has added trillions more to the LBO
Buyout fund. As I have
said previously, the banks are allowed to launder a trillion dollars a year in
drugs, 400 billion dollars a year in illegal weapons and 500 billion dollars in
political bribes. Catherine has
written and spoken often of mortgage fraud. The bankers were allowed to sell
each mortgage ten times. The Federal Reserve has been busy buying fraudulent
mortgage backed securities to keep the bankers out of jail. She said we
were all heartened when the House voted against the Bailout in 2008. The
bankers reversed that decision through three methods. They were able to donate
money and give bribes which most voters are aware of. They are not aware of
Control Files which have all the blackmail information on politicians. But with
government databases run by private military contractors ...
Bolivia,
Kazakhstan, Tajikistan and Thailand spent a collective $1.52bn (£942m) buying
26.7 tons of gold. However, the Mexican central bank was a seller, reducing its
holding by 0.1 ton, according to data compiled by Bloomberg.
CARACAS, Oct
26 (Reuters) - At the foot of a dimly lit spiral staircase far below
Venezuela's Central Bank, workers prepare for an unusual arrival: 17,000 gold
bars being shipped back on the order of President Hugo Chavez.
Chávez said
the company had demanded the government pay it in dollars for the previous
expropriation of tens of thousands of acres. But the government insists in
paying in bolivars, Venezuela's currency.
As EU
officials flew to Beijing to beg for financial help last night, Brussels was
accused of allowing China to ‘buy Europe’s silence’ over its appalling human
rights record. Campaigners
spoke out after the head of Europe’s bailout fund arrived in the Chinese
capital to discuss the terms on which the hardline regime might agree to inject
billions into the struggling eurozone countries. Campaigners
fear EU negotiators will cave in to Chinese demands to tone down criticism of
the regime’s human rights record.
Customers are
dumping their banks in droves ahead of the nationwide "Move Your
Money" and "Bank Transfer Day" movements this Saturday. Given the
recent spotlight on attempts -- and ultimate failures -- by some of the
nation's biggest banks to tack on new debit card fees, thousands of disgruntled
consumers have already either left or pledged to leave their current bank for a
community bank or credit union, which are known for having fewer and/or lower
bank account fees.
Associated
Press HIGHLAND
PARK, Mich. (AP) -- As the sun dips below the rooftops each evening, parts of
this Detroit enclave turn to pitch black, the only illumination coming from a
few streetlights at the end of the block or from glowing yellow yard globes...
The wave of
civil unrest that has swept the globe over the past year has prompted the
Department of Homeland Security to step up its monitoring of Twitter and other
social networks in a bid to pre-empt any sign of social dislocation within the
United States.
Twitter User“Department of Homeland Security Undersecretary Caryn Wagner said
the use of such technology in uprisings that started in December in Tunisia
shocked some officials into attention and prompted questions of whether the
U.S. needs to do a better job of monitoring domestic social networking
activity,” reports the Associated Press. Wagner
announced that the federal agency would implement new guidelines that would
focus on “gleaning information from sites such as Twitter and Facebook for law
enforcement purposes.”
Britain’s
Prime Minister David Cameron wanted the internet shut-down during the riots
that swept England in August in order to prevent rioters from communicating with
each other over social media networks, according to media reports. Fears grew at
the time that the disturbances were largely organized by youths using their
mobile phones. However,
Cameron was persuaded against taking any such drastic measures by the Foreign
Secretary William Hague over worries that such steps would lead to accusations
of hypocrisy over the rights of free speech in Britain.
In one man's
world, your house can be destroyed, you can continue to make its mortgage
payments, yet it can still be foreclosed. That's the
situation for Brad Gana, a Texas man whose home was washed away in 2008 by
Hurricane Ike who continued to make its mortgage payments, before the bank
arrived, confiscating whatever items they could get. Hiring an
attorney to stop the procedure, which was successful, Bank of America still
arrived at his property, removing any personal items that were available like
his tools and collectibles, all of which are now gone. Reached for
comment, a representative with Bank of America sent an email to the
investigator, Ms Davis, admitting that the bank had 'incorrectly placed
insurance' on a home that no longer existed.
Webmaster's Commentary:
Money-junkies
are like that. They are addicts and this is how addicts behave.
In 1899, MW
Walbert published The
Coming Battle: A COMPLETE HISTORY OF THE NATIONAL BANKING MONEY POWER IN THE
UNITED STATES, still the definitive history of the takeover of America by
the same forces we fight today, The Corporate-Banking Complex. The introduction
is reproduced below. This blogger strongly urges you to read the entire book
and arm yourself with the knowledge that the Dogs of Money have done their best
to keep from you.
Thousands of
police have been deployed in Athens to monitor an annual student march, which
is likely to be swelled by thousands of Greeks angry over austerity measures
and reforms.
Are Abe
Foxman and the Zionist ADL training US Police to be their private armies? When your
door gets kicked down at 3 am in the morning, you’d better have on your
yarmulke, have a menorah visible and a Star of David Flag draped over one wall…
or else! Here’s a few
samples on what the Zionists are teaching American cops to do:
The Oakland
Police Department, who shot and critically injured an unarmed 24 year old U.S.
Marine with a tear gas cannister last night, has placed 2nd only to Israel in
"terrorism" training exersizes two years in a row.
This
video shows the Oakland police (trained by Israel to deal with
"terrorists", tossing a flash-bang grenade right into the middle of the
people trying to help Scott Olson after he was shot in the face. At close
range, flash-bang grenades can kill.
Demotix has
posted photos showing that the Department of Homeland Security now operates as
a secret police force that arrests people at political events, the hallmark of
all totalitarian governments. The Federal
Protective Service (FPS) arrested a photographer at Portland’s Terry Shrunk
Plaza, which is adjacent to both City Hall and the Edith Green-Wendall Wyatt
Federal Building. The
Department of Homeland Security describes the FPS as “a federal law enforcement
agency that provides integrated security and law enforcement services to
federally owned and leased buildings, facilities, properties and other assets.”
Yesterday,
the New York Police Department deployed a strange new weapon against the tens
of thousands of demonstrators who converged downtown for the largest protest in
Occupy Wall Street’s two month history: the LRAD sound cannon. NYPD officers
reportedly blasted Occupy protesters with rays from the LRAD cannon while they
sang the American national anthem near Lower Manhattan’s Zuccotti Park (photos
here), establishing an atmosphere of fear and intimidation that lasted
throughout the evening.
Law enforcement is there to protect a
wealthy elite from the rest of the population
***
A
teenage girl holds a hastily written sign saying: “NYPD, we trusted you – you
were supposed to protect us!”
***
The
sentiment is a familiar one. Across Europe, over a year of demonstrations,
occupations and civil disobedience, anti-austerity protesters have largely
shifted from declaring solidarity with the police – as fellow workers whose
jobs and pensions are also under threat – to outrage and anger at state
violence against unarmed protesters. Following last month’s police brutality in
Oakland, and today’s summary eviction of the Occupy Wall Street camp, American activists too are
reaching the conclusion that “police protect the 1%”.
“Who
do you guys work for?” Shouts one Manhattan protester, as police load arrestees
into a van. “You work for JP Morgan Bank!”
As
hard as the NYPD and New York City’s government might try to obscure the truth
though, one truth remains: At 1 a.m. this morning, in the heart of New York
City, protesters exercising their constitutional rights to free speech and
assembly were swept away by the state, while that state also did all it could
to prevent media coverage. No
matter what one may think of the occupiers or their cause, nothing they’ve done
justifies blockading the press or ignoring court orders. Mayor Bloomberg,
Police Commissioner Ray Kelly and other New York leaders who ordered the
eviction should take a long, hard look at their handling of the occupation.
This morning’s action may not be what a police state looks like, but it’s certainly
how one begins.
According to
Oakland Mayor Jean, 18 cities coordinated police crack downs on Occupy
protests. Wonkette
reports that Homeland Security likely organized the crack downs:
Remember
when people were freaking out over the Patriot Act and Homeland Security and
all this other conveniently ready-to-go post-9/11 police state stuff, because
it would obviously be just a matter of time before the whole apparatus was
turned against non-Muslim Americans when they started getting complain-y about
the social injustice and economic injustice and income inequality and endless
recession and permanent unemployment?
Throughout
the United States, city administrations are moving to break up encampments of
the Occupy protests, trampling underfoot the constitutionally protected right
of assembly. Police
cleared out the Occupy camp in Oakland, California in a predawn raid on Monday,
resulting in 32 arrests. This followed the shutting down of the Portland,
Oregon encampment, in which 50 people were arrested. Last week, police used
truncheons to hit unarmed students attempting to set up a camp at the
University of California, Berkeley. According to one tally, there have been over 3,600
arrests at Occupy protests, mostly in the United States, including 943 in New
York City, 370 in Tucson, 352 in Chicago, 206 in Oakland and 153 in Boston.
A lawyer for
Occupy Toronto protesters has secured an injunction to stop the midnight
eviction of those still camped out at the city's St. James Park. Judge David
Brown granted a temporary stay of the city's eviction notice, which would have
allowed authorities to force occupiers out as of midnight Tuesday. Brown will
hear arguments for and against the city's plan on Friday, meaning protesters
will not be forced out of the park in the meantime. The judge is expected to
deliver a verdict by 6 p.m. ET Saturday. Patrick
Swayze's advice to Occupy Wall Street. Be nice. Until it's time not to be nice.
A right is absolute. If it isn't
absolute, it is not a right, but an indulgence granted by a master to a
well-behaved slave. Wall
Street and the government are desperate to send a message to those other
nations from whom they need to borrow more money that the American people have
been driven back to their slave pens, and will obediently work themselves and
their children and their children's children into early graves, accepting a
life of poverty, in order to turn their work product over to those angry
foreign investors who were cheated by the mortgage-backed securities fraud and
demand that the bad paper be redeemed. If
you quietly accept Mayor Michael One-Percent Bloomberg's claim that the Bill of
Rights is conditional on approval from the civil government, they will have
won. The world's financiers will be convinced that you are indeed returned to a
life of indentured servitude, with your lifetime of work the only thing of
value behind the Federal Reserve Notes. How
you respond to Bloomberg's claim that civil government has an option on the
Bill of Rights will determine the future course of this nation. Will you be
free, or will you live the rest of your life as a debt-slave to the
money-junkies whose crimes and corruptions have destroyed what was once the
greatest nation on Earth? Freedom or slavery. It is time to
choose. There is no third course.
Deputy Mayor
Cas Holloway filed a motion on behalf of the city today opposing a court order
requiring the NYPD to allow Occupy Wall Street demonstrators back into Zuccotti
Park. In filing the motion, Holloway asserted that "people who have a
known history of violent interaction with the police” have been gathering in
the park, and “makeshift items” that he said could be used as weapons,
"such as cardboard tubes with metal pipes inside, had been observed among
the occupiers' possessions." He also noted that after the October 1st
Brooklyn Bridge march, "knives, mace and hypodermic needles were observed
discarded on the roadway."
UPDATE 2: #BLOOMBERG MAY BE TRYING TO
PROVOKE A RIOT AT #OccupyWallStreet TO JUSTIFY MARTIAL LAW #OWS #OccupyAMERICA
#revolution #OccupyEVERYWHERE Online Trolls keep trying to claim the
verdict is on favor of the protesters, so if the verdict goes against you,
PLEASE DO NOT RIOT BECAUSE THAT IS WHAT BLOOMBERG AND OBAMA WANT! UPDATE:
JUSTICE LUCY BILLINGS has been "thrown off" the case as court
administrators prepared to "randomly" choose a new judge. Who is ordering the cops to refuse a
court order? Three guesses. Despite
an iron-fisted shut down of overpasses to block protest signs here at APEC on Oahu,
Asia has heard the people of the United States cry out that they will no longer
pay for US Government mistakes or Wall Street's crimes. As
a result, Asia will buy no more US debt, and is openly worried about repayment
of the debts they currently hold. Obama's insults to China show that he has
thrown a tantrum, and desperate to borrow more money, he has to show the rest
of the world that the people of the United States are chained down and unable
to refuse to pay for the costs of Wall Street's Mortgage-backed Securities
fraud, the biggest financial swindle in history, which is what has brought the
global private banking network to the edge of collapse. As this defiance of a court order
demonstrates, the rule of law has ended in the USA. The police are being given
orders to really start beating up the protesters before more of the world's
financial centers realize that the US Government cannot make good on its
promise, made and demonstrated during the S&L Bailout of the 1980s,
to always have the taxpayers cover Wall Street's losses. Sadly, we are entering a very bloody
time in the nation's history, with the government willing to spill the people's
blood to protect Wall Street's gold.
Apparently, from the live feed, the police are
ignoring the TRO, which means the orders to shut down the protests probably
came from DC. The police are spilling Americans' blood to protect Wall Street's
gold.
The Occupy
Wall Street librarians tweeted the eviction all night: “NYPD destroying
american cultural history, they’re destroying the documents, the books, the
artwork of an event in our nation’s history … Right now, the NYPD are throwing
over 5,000 books from our library into a dumpster. Will they burn them?
live stream:
A new crowd of about 500 people are marching to Zucotti Park to back up the OWS
protesters as police continue to defy a court order allowing the protesters
back in. Police
crackdowns are being reported in Toronto and Phoenix, so this is a nation-wide
clamp-down by Obama to send a message to foreign creditors that the people of
the United States are still happy little slaves who cannot refuse to continue
to pay the losses from Wall Street's Mortgage-Backed Securities Fraud.
The strike
will occur on November 2nd. Occupy Wall
Street in New York has also been considering a proposal for a general strike.
And there are also rumors of a global general strike next year.
What was so
amazing about the size of the crowd both inside the plaza and just outside of
it, then marching to the Port of Oakland, was that it did not decrease in size;
it increased. And that was with some people leaving it, and others coming in
from BART and from around Oakland via foot or other parts of the Bay by car. For that to
happen all day long and considering the capacity of the plaza and the crowds
outside of it points to 100,000 people. I’ve never seen anything like that in
the entire history of this city.
Huge crowds
gathering and marching in solidarity with Occupy Oakland's branch of the Occupy
Worldwide Movement have shut down the port of Oakland as of 5:30:pm:pdt. Crowds
and marchers gathered as the day progressed and are mounting and surging at
this hour. Oakland city
officials including Mayor Jean Quan and Oakland Police Chief Howard Jordan are
addressing the local television media, speaking in conciliatory terms and
appealing for calm. Chanting
"Our streets! Our port! Power to the people!" crowds are swirling
through the port area and are scattered through the streets of downtown Oakland
all the way back to the city's civic center where the controversy began nearly
a week ago with a police raid on the Occupy Oakland encampment at Frank Ogawa
Plaza.
A private
member's bill debated Thursday in Ottawa would make it a crime to cover your
face with a mask or other means during a riot. Which
I presume includes those masks the cops wear as well! :)
PERF: Short
for perfert. PERF's
executive director is Chuck Wexler, a former operations assistant to the Police
Commissioner in the City of Boston. Mr. Wexler currently serves on DHS'
Homeland Security Advisory Council alongside police officers, representatives
from private corporations, university representatives, current and former
governors and others, including Bonnie Michelman, a professor of criminal
justice at Boston's Northeastern University, and Ray Kelly, police commissioner
of the NYPD.
Police in the
U.S. have used pepper spray against students taking part in an 'Occupy'
campaign at the University of California. Demonstrators had been ordered to
remove their camp, but after refusing, officers showed up and tore their tents
down.
Early
reporting was scant, dismissive, and offensive. Much still belittles,
denigrates and marginalizes a significant movement. Fox News claims protesters don’t pay taxes or know
what they want, are supported by Iran’s Ayatollah Khamenei and Hugo Chavez, and
represent the lunatic left wing. Bill O’Reilly quipped, “Do we have all kinds of
crackheads down there.” He added that Zuccotti Park is “dirty and filthy.
There’s rats running all over. There’s dope all over the place. They’re having
sex outside at night and all of this stuff.” Fox News reporter Charles Gasparino accused
protesters of embracing “communism and there is no doubt about it.”
A well-known
Washington lobbying firm with links to the financial industry has proposed an
$850,000 plan to take on Occupy Wall Street and politicians who might express
sympathy for the protests, according to a memo obtained by the MSNBC program
“Up w/ Chris Hayes.” The proposal
was written on the letterhead of the lobbying firm Clark Lytle Geduldig &
Cranford and addressed to one of CLGC’s clients, the American Bankers
Association. CLGC’s memo proposes that the ABA pay CLGC
$850,000 to conduct “opposition research” on Occupy Wall Street in order to
construct “negative narratives” about the protests and allied politicians. The
memo also asserts that Democratic victories in 2012 would be detrimental for
Wall Street and targets specific races in which it says Wall Street would
benefit by electing Republicans instead. I
warned you the money-junkies love to play dirty!
Rep. Joe
Walsh (R-IL) on Saturday blasted the “Occupy Wall Street” movement and
suggested it was a ploy to help re-elect Barack Obama in 2012. “They don’t
at all represent America and I think that the president and the White House and
the Democrats kind of want to encourage it and now they’re scared because these
folks are doing some pretty ugly things and now our Democratic politicians are
conflicted,” he continued. “But its an anti-American, well funded left wing
effort that may disrupt a lot of things next year, but they are clueless when
it comes to what this country is all about and the rest of the country ought to
educate them.” Memo
to Joe Walsh: sir, if it is anyone who is "clueless" about this
movement, you are absolutely the poster child for this adverb by making these
statements And
as an entrepreneur who has a very clear understanding of a 12 hour work day, I
am certainly no "leftist"; I am a very hard-working, capitalistic
individual who has never taken one unemployment check, or one welfare
check in her entire life. The
Occupy Movement is sick and tired of jobs being outsourced; about the reality
that Congress is primarily the acquisition of the large corporations. This is
why when legislation is passed, it is generally great for the corporations, but
generally lousy for we the people. So, most Americans are experiencing
"deja vu all over again"; taxation without representation. You do
remember where that little phrase came from, don't you?!? And
here are the largest contributors to YOUR campaign, Representative Walsh: Representative Joe Walsh has
reported a total of 351 contributions ($200 or more) totaling $465,869 in the
current cycle. SearchDon't even begin
to tell me that these donations didn't sway the way you have voted on a number
of issues. the
Occupy Movement is a leaderless, and generally peaceful resistance, who are
angry that We the People wound up having to bail out the allegedly "too
big to fail" financial institutions; they are angry about escalating wars
overseas, which have bankrupted this country morally and fiscally; and they are
angry at the way veterans are being treated after having laid their life on the
line in defense of this country. Apparently,
you haven't quite gotten the memo that the old Left/Right paradigm no longer
make any sense in this world. Intelligent
solutions o this country's problems don't make those solutions either
Anti-American or Socialist. And
in case you don't understand how terrified the Obama Administration is about
the Occupy Movement, and the message it sends, you really don't
get it. The
message these demonstrations are sending, particularly to potential loan
resources for the US government is, We the People will not pay off the
odious debt with which the US Federal government stuck us, without our consent.
The Federal Bureau
of Investigation (FBI) is reportedly giving money and weapons to poor criminals
to carry out terrorist attacks on US soil on behalf of Muslim groups. The Guardian reported that the terrorist plots
"came from the FBI, and an informant paid to pose as a terrorist
mastermind paying big bucks for help in carrying out an attack." Drug dealer
David Williams was one of the victims of the FBI plot. In May 2009, he was
rearrested and handed a 25-year jail sentence. Williams and
three others were convicted of an Islamic terrorist plot to blow up Jewish
synagogues and shoot down military jets with missiles.
An idea whose time has come resonates globally.
November 17 marked two months since beginning in New York. Earlier Middle East
and European protests inspired it. Now it’s spreading everywhere across North
and South America, Europe, Asia, Africa, and Oceania. In America within weeks, hundreds of large and
small cities in all 50 states got involved. Protesters weathered snow, rain,
cold, pepper spray, tear gas, beatings, arrests, and evictions. Police
confrontations, in fact, inspired larger turnouts. Mother Jones magazine said participants represent
“a horizontal, autonomous, leaderless, modified-consensus-based system with
roots in anarchist thought.” In fact, they’re revolutionaries in the best sense
of the term
Retired
Philadelphia police Captain Ray Lewis, arrested yesterday after joining up with
the Occupy Wall Street process, has quickly become one of the more iconic
figures from the movement’s two month’s anniversary.
Arizona Police Officer Execute Man
For Telling Them They Needed A Warrant
Warrants?
We don't need no stinking warrants. OK, now
admittedly, the mother invited the police officers into the home, but what
happened next is simply unjustifiable.
According to his own partner, the police officer held a gun to the head of an
unarmed man, quite literally saying "I don't need no warrant,
mother******." After that the family dog was shot and killed as was the
unarmed man.
CANNES,
France (AFP) - The leaders of the world's economic powers forced Europe on
Friday to take measures to stop Italy following Greece into the abyss of debt
and agreed to boost the IMF's war chest...
In their
latest attempt to smear the Occupy Wall Street (OWS) movement, Rupert Murdoch’s
New York Post and other pseudo-conservative news outlets have exploited a minor
dispute between the group’s finance committee and a few disgruntled protesters.
AFP recently discussed the matter with one of the key spokesmen for OWS, who
said Wall Street and Big Business are trying to undermine them by exaggerating
what most activists consider to be a minor issue.
The Federal
Reserve recently allowed Bank of America to move its massive derivative
positions from the bank holding company to its banking subsidiary which is an
FDIC insured depository institution. By allowing this transfer, the Federal
Reserve has allowed Bank of America to shift the risk of loss on speculative
derivative contracts from the non-bank affiliate. A failure of Bank of America
could result in huge losses for the FDIC which would ultimately be passed on to
the taxpayers.
Webmaster's Commentary:
"But
that is what the taxpayers are for! We're doing God's work here,
buddy!" -- Money-junkies
The U.S.
government said food prices are expected to climb 3.5%-4.5% in 2011, an
increase of one-half of a percentage point from its prior forecast, as higher
commodity costs continue to filter down to consumers. Food
commodity and energy price increases over the past year, combined with a weak
U.S. dollar, have caused most of the grocery store price increases observed in
2011.
Nearly 15% of
the U.S. population relied on food stamps in August, as the number of
recipients hit 45.8 million. Food stamp
rolls have risen 8.1% in the past year, the Department of Agriculture reported,
though the pace of growth has slowed from the depths of the recession.
These nutty
criticisms of the protests are spreading like cancer. Earlier that same day,
I'd taped a TV segment on CNN with Will Cain from the National Review, and we
got into an argument on the air. Cain and I agreed about a lot of the problems
on Wall Street, but when it came to the protesters, we disagreed on one big
thing. Cain said he
believed that the protesters are driven by envy of the rich.
Webmaster's Commentary:
It isn't that they are rich, it is HOW
some of them got rich that We The People object to. Nobody
objects to someone like Steve Jobs who gets rich by inventing a new product we
all freely choose to purchase. Nobody objects to rich movie stars because after
all, we had the choice whether or not to purchase tickets and DVDs. What
we do object to are people who turned Wall Street into a giant casino, got rich
pulling the biggest financial swindle in history, then bribed the US Government
to transfer the losses to the American people. That we do have a
problem with, mostly because it was done without our free choice, indeed was
done to us over our most strenuous objections! The
problem here is that Wall Street swindlers don't like to see themselves as
acting in a criminal fashion. Long ago they have deluded themselves into
thinking that their corrupted predatory behavior is the "Natural
order", i.e. the way things are supposed to be. From this you get Lloyd
Blankfein's comment that he is doing "God's Work" when he gets paid
to sell California Bonds, then advises his clients to bet against them,
wrecking California's economy. So
of course the Money-junkies cannot see where the Occupy Wall Street people have
anything other that envy as a motive.
Even in a
tight credit market, David Meinert didn't think he'd have a problem getting
funding from his bank. He was a model entrepreneur, with good credit and a
profitable business earning $2 million in revenue. But when he applied for a
relatively small $50,000 line of credit from Chase in late 2010, he got denied
in 12 hours, with no explanation. "It was insulting and made no sense,
even to the banker. And there was no one to even talk to about it,"
Meinert says. "It's frustrating that banks are getting billions of dollars
in taxpayers' money and they're sitting on that money and not lending it to
small businesses. If you're making less than $10 million, they don't care about
you."
Webmaster's Commentary:
Good
for this guy, and for the thousands like him who are establishing their
accounts other than with the behemoth banks.
More than
five million US homeowners and counting have had their homes foreclosed upon by
banks since the "economic crisis" first began several years ago. But
the Massachusetts Supreme Court recently ruled that the vast majority of the
foreclosures that took place in the Commonwealth (and likely in most other
states) within the past five years are illegitimate because the banks did not,
and do not, actually hold the promissory notes for the properties.
According to
the U.S. Census Bureau, a higher percentage of Americans is living in extreme
poverty than they have ever measured before. In 2010, we
were told that the economy was recovering, but the truth is that the number of
the “very poor” soared to heights never seen previously. Back in 1993 and back
in 2009, the rate of extreme poverty was just over 6 percent, and that
represented the worst numbers on record. But in 2010, the rate of extreme
poverty hit a whopping 6.7 percent. That means
that one out of every 15 Americans is now considered to be “very poor”. For
many people, this is all very confusing because their guts are telling them
that things are getting worse and yet the mainstream media keeps telling them
that everything is just fine.
Amid fears of
financial sabotage, one of the nation's top spy agencies is sharing
intelligence on foreign computer hackers with Wall Street investment banks,
Reuters is reporting. The National
Security Agency, a branch of the Defense Department, "is currently talking
to financial firms about sharing electronic information on malicious software,
possibly by expanding a pilot program through which it offers similar data to
the defense industry," Reuters writes, citing the agency's director, Gen.
Keith Alexander, who also heads the U.S. Cyber Command. He offered no details
about the information sharing.
Webmaster's Commentary:
I
don't think there are any foreign hackers that are a greater threat to Wall Street
than the current crop of domestic (and Israeli) hackers. Like most of the
"Al Qaeda" we see in the media, they are propaganda fakes. We
all know a major economic crash is coming, because the deal to save the
Eurozone has collapsed. But Wall Street and the US Government are traditionally
loath to accept responsibility for their own failures, and even now search for
a scapegoat to blame it all on. And
what better scapegoat than Occupy Wall Street, already linked in the public
mind with those mean ol' hackers Anonymous! So,
what I think this story is really about is setting the stage for portraying the
coming economic crash as a computer crash and blaming the protesters for it.
The number of
takedown orders received by Google from authorities based in the United States
rose dramatically over the past year, with demands to remove information,
including videos containing “government criticism,” increasing by 70 per cent.
You Tube“In the US, Google received 757 takedown requests across its sites and
services, up 70 per cent from the second half of last year,” reports technology
website V3.co.uk. “US
authorities also called for the removal of 113 videos from YouTube, including
several documenting alleged police brutality which Google refused to take
down.”
“In the US, Google received 757 takedown
requests across its sites and services, up 70 per cent from the second half of
last year,” reports
technology website V3.co.uk.
“US
authorities also called for the removal of 113 videos from YouTube, including
several documenting alleged police brutality which Google refused to take
down.” The figures
are revealed in Google’s
newly released transparency report, which also details how the number of
“user data requests” by US authorities increased by 29 per cent compared to the
last reporting period.
Proclamations
of a Eurozone "solution" are total bovine excrement. Greece's debt
could not be paid. All the "deal" amounts to is that the bondholders
wrote off half the Greek bonds, but agreed not to call it a default! The Credit
Default Swaps on those Greek bonds are now due and payable and guess who is on
the hook for those! The
underlying problem of living under an economic system which by design produces
more debt than money to pay the debt is still there, as is the policy of
looting the people to enrich the bankers who created that system. All the
European "deal" has done is push the next crash off (they hope) until
after next year's election, while plunging the people of Europe (and possibly
the United States) further into debt to the central bankers against their will!
. There
is one bright spot.
The Greek rioters sent the message they would not pay a debt not of their own
making, and the bankers backed down! Americans
need to do the same.
Right now,
there are a number of major cities that are so broke that they cannot keep the
street lights operating. Down in St. Louis, parents in some areas are carrying
golf clubs with them as they walk their kids to school in order to fend off
roving packs of wild dogs. In other major U.S. cities, open-air drug markets
conduct business without fear.
Messages
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/images/quotes_special.gif)
The legend that John F. Kennedy defied the
Federal Reserve and the international bankers who control it by issuing U.S.
Notes into the American economy in 1963—and thus paid with his life—is a myth
that won’t go away. Although it’s true that non-interest bearing U.S. Notes
were issued during the JFK administration—no question about it— but there’s
much more to the story. 
