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LewRockwell.com Blog: Ron Paul: The Federal Burglars Are Stealing Your Prosperity, Again
Ron Paul video speaking on the recent bill to bail out Fannie Mae and Freddie Mac by allowing the Fed to exchange Treasury Bonds for mortgage loan securities.
www.lewrockwell.com/...022123.html - Preview
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July 24, 2008
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Ron Paul: The Federal Burglars Are Stealing Your Prosperity, Again
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Posted by Lew Rockwell at July 24, 2008 09:24 AM
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Oh, and this monstrous "law" includes further crackdowns on our privacy for the tax police.
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This time to reward the fascist Fannie and Freddie, other corrupt agencies, the banks, and politically connected borrowers.
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Just another day in the district of parasites.
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Famous Freemasons Exposed
On the "Scribd" website
www.scribd.com/...Famous-Freemasons-Exposed - Preview
freemasons famous exposed freemasonry hand signals fingers people history links occultic secret-society conspiracy world domination on 2008-08-23 and saved by 3 people
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Famous Freemasons Exposed
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History of the Bush Family | WIDE EYE CINEMA - Free Truth Videos
wideeyecinema.com/?p=121 - Preview
prescott-bush grand-father george-bush nazi-germany union-bank brown-brothers-harriman fritz-thyssen i-g-farben hitler world-war usa new-york bank shareholder bush-family on 2008-08-26
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History of the Bush Family
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The documents, many of which were declassified only three years ago, show that even after America had entered the war and when there was already significant information about the Nazis’ plans and policies, Prescott Bush worked for and profited from companies closely involved with the very German businesses that hoisted Hitler to power.
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While there is no suggestion that Prescott Bush was sympathetic to the Nazi cause (nor is there any proof to the contrary), the documents reveal that the firm he worked for, Brown Brothers Harriman acted as a U.S. base for Fritz Thyssen, the German industrialist who financed Hitler in the 1930s.
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Evidence shows Bush was the director of the New York-based Union Banking Corp. that represented Thyssen’s U.S. interests and he continued to work for the bank well after America entered the war.
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Bush was also on the board of at least 1 of the companies that formed part of a multinational network of front companies to allow Thyssen to move assets around the world.
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Papers also show, Prescott Bush was a director and shareholder of a number of companies involved with Thyssen, Germany’s most powerful industrial family, and with I.G. Farben, which was prosecuted for war crimes, and is best known as the producer of Zyklon B, a lethal poison widely used at the Auschwitz and Majdanek death camps.
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Secrets of the Federal Reserve | WIDE EYE CINEMA - Free Truth Videos
wideeyecinema.com/?p=120 - Preview
federal-reserve bank us-government money-supply international-bankers gangsters usa tax-payers america the-fed printed-money centralized private congress on 2008-08-26
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Secrets of the Federal Reserve
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This is an excellent video covering the secrets of the Federal Reserve system, how it was formed, and how this private firm controls our everyday lives.
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In accordance with Title 17 U.S.C. Section 107, this video is distributed without profit, to those who have expressed interest, for research or educational purposes.
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Illuminati Conspiracy Archive: Operation Sarkozy: how the CIA placed one of its agents at the presidency of the French Republic
www.conspiracyarchive.com/Blog - Preview
sarkozy france degaulle politics nwo drugs ben-laden bush-family us-government mi6 cia frank-wisener negroponte aifac neocons standford-university london brzezinski on 2008-09-07
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Add Sticky NoteThey were hoping for a break with years of no-change and ideologies of the past. What they got instead was a break with the very principles which founded the French nation, and have been shocked by this “hyper-president”, seizing every day a new dossier, attracting towards him the right and the left wing, and tearing apart all points of reference to the point of creating a total confusion.
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Add Sticky NoteBut Wisner had already become senile by that time and it was his successor, Allan Dulles, who supervised the coup.
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Add Sticky NoteHowever, certain of his followers approved of his political evolution. Around Charles Pasqua, they created the SAC (Civic action services), a militia to protect him.
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Add Sticky NoteThe company continued however to serve as a cover for all sorts of traffics connected to the New York Italian American family of the Genovese (and) that of Lucky Luciano.
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Add Sticky NoteConscious that he could not defy the Anglo-Saxons on all fronts at the same time, De Gaulle allied himself to the Rothschild family, choosing as Prime Minister, Georges Pompidou, who was the fondé de pouvoir of the bank.
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Add Sticky NoteBorn in 1955 he is son to a Hungarian catholic nobleman, Pal Sarkösy of Nagy-Bosca, who sought refuge in France after fleeing the Red Army, and to Andree Mallah, a Jewish commoner from Thessalonica.
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Add Sticky NoteUnfortunately, in 1972, Achille Peretti comes under grave accusations. In the United States, Time Magazine reveals the existence of a secret criminal organization « the Corsican Union » which controls a large part of the drug trade between Europe and America, the famous « French connection » which Hollywood popularized on the large screen.
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Add Sticky NoteIn 1977, Pal Sarkösy of Nagy-Bocsa separates from his second wise, Christine de Ganay, who then gets together with the N°2 of the US State Department central administration. She marries him and settles in America with him. The world being very small, as everyone knows, her husband is none other than Frank Wisner, Jr, son of the previous.
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Add Sticky NoteIn spite of his sulphurous past, Charles Pasqua became Interior Minister. While keeping high hand over Moroccan marijuana trade, he took advantage of his situation to legalize his other activities taking control of casinos, gambling and horse races in francophone Africa.
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Add Sticky NoteIn Washington, Frank Wisner, Jr. became the successor of Paul Wolfowitz as head of the Political Planning department of the Department of Defense. Nobody noticed at that time the ties to the spokesman of the French government.
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Add Sticky NoteThe new element was that Charles Pasqua and along with him, the young Nicolas Sarkozy, betray Jacques Chirac in order to join the Rothschild current.
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The main victim of the series of scandals was Prime Minister Alain Juppé. To protect Chirac, he assumed alone all the penal sanctions. The removal of Juppé from the front lodges opened the way for the take by Sarkozy of the leadership of the Gaullist party.
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Sarkozy exploited then his position to force Jacques Chirac to take him into the government once again, in spite of their reciprocal hatred.
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This post gave him control over the prefects and the internal intelligence apparatus which he used to gain positions of power over the large administrations.
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In the end, he became Interior Minister. Mistake !
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He dealt also with Corsican affairs. Prefect Claude Érignac was murdered. Even though nobody claimed it, the murder was immediately interpreted as a challenge by the independentists to the Republic.
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Add Sticky NoteFollowing a long hunt, the police managed to arrest a fleeing suspect, Yvan Colonna, son of a Socialist deputy. Caring little about the presumption of innocence, Nicolas Sarkozy announced the arrest, accusing the suspect of being the assassin.
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The news is too important, a mere two days away from the referendum the minister has organized in Corsica to modify the status of the island. Be as it may, the electors reject the Sarkozy project, who, according to some, favoured mafia interests.
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While Yvan Colonna was ultimately declared guilty, he always claimed his innocence and no material proof was ever found against him. Strangely, the man preferred to remain totally silent rather than reveal what he actually knew.
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Add Sticky NoteWe reveal here that prefect Érignac was not directly killed by the nationalists, but by a paid killer, immediately exfiltrated towards Angola where he was hired to the security of the Elf group.
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The mobile of the crime was precisely connected to the previous functions of Érignac, responsible for the African networks at Pasqua’s cooperation ministry.
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As for Yvan Colonna, he is a personal friend of Nicolas Sarkozy since decades and their children have entertained social relations.
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A new scandal broke out then: phoney computer listings were circulating falsely accusing several personalities of hiding bank accounts in Luxembourg, at Clearstream.
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Add Sticky NoteAmong the defamed personalities: Nicolas Sarkozy, who filed a suit insinuating that he suspected his right wing rival to the presidency, Dominique de Villepin, to have organized this machination.
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Add Sticky NoteIn reality, the false listings were put in circulation by members of the French American Foundation, of which John Negroponte was the president and Frank Wisner Jr, the administrator.
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Sarkozy didn’t hide his intention either to throw him in jail.
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What the judges ignored and which we reveal here is that the listings were fabricated in London by a common office of the CIA and of MI6, Hakluyt and co, of which Frank Wisner is also an administrator.
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Add Sticky NoteVillepin denied the accusations, but was indicted, assigned to residence and, de facto, eliminated from political life temporarily.
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Add Sticky NoteIt remained for the opposition candidacies to be neutralized. The membership fees to the Socialist party were reduced to a symbolic level in order to attract new activists. Suddenly, thousands of youth take membership cards. Among them, there were at least 10 000 new members who are in reality militants from the “Lambertist” Trotskyite party, (named after its founder Pierre Lambert).
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The road is thus free on the right wing for Nicolas Sarkozy.
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Add Sticky NoteThis small extreme left group historically served the CIA against the Stalinist communists during the cold war (it is the equivalent of the Social democrats/USA of Max Schatchman, who trained the US neo-conservatives).
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It is not the first time the “Lambertists” infiltrate the Socialist party. They introduced there two notorious CIA agents : Lionel Jospin (who became Prime minister) and Jean Christophe Cambadelis, the main advisor to Dominique Strauss Kahn.
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Two personalities were competing: Laurent Fabius and Ségolène Royal. Only the first was a danger for Sarkozy.
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Primaries were organized inside the Socialist party to designate its candidate to the presidential election.
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Dominique Strauss Kahn came into the race with the mission to eliminate Fabius at the last moment. Something he did with the help of the votes of the infiltrated “lambertists”, who voted not for him but for Royal.
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Add Sticky NoteFrenchmen ignore that he teaches at Stanford, where he was hired by the prévot Dean of the University, Condoleeza Rice. From the beginning of his term, Nicolas Sarkozy and Condoleeza Rice will thank Strauss Kahn by having him elected to the leadership of the International Monetary fund.
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The operation is possible because Strauss Kahn is since long on the pay roll of the United States.
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First days at the Élysée
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The evening of the second round of the presidential election, when polling agencies announced his probable victory, Nicolas Sarkozy gave a short speech to the nation from his general campaign quarters. Then, contrary to all custom, he didn’t celebrate with the militants of his party, but went to the Fouquet’s.
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The famous brasserie at the Champs-Élysées, formerly the place of rendez-vous of the “Corsican union” is today the property of Casino magnate, Dominique Desseigne. It was lent to the elected president to receive his friends and main campaign donors. Some hundred guests crowded there, the richest men of France hobnobbing with the casino bosses.
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The elected president then offered himself some days of well merited rest.
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Transported to Malta by a private Falcon 900, he relaxed on the Paloma, a 65 m yacht of his friend Vincent Bollore, a billionaire trained at the Rothschild bank.
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The first decree he signed was not to enact an amnesty, but to authorize the casinos of his friends Desseigne and Partouche to multiply the money machines.
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Finally, Nicolas Sarkozy was inaugurated president of the French Republic.
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He composed his working team and his government. Without surprise, one finds there an ominous casino owner (the minister of Youth and Sports) and the lobbyist of the casinos of his friend Desseigne (who became a spokesman of the “Gaullist party”.)
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Add Sticky Note
Nicolas Sarkozy relies above all on 4 men:
- Claude Guéant, secretary general of the Elysée Palace, the former right hand of Charles Pasqua.
- François Pérol, under-secretary general of the Elysée, an associate manager of the Rothschild bank.
- Jean-David Lévitte, diplomatic advisor. Son of the former director of the Jewish Agency. French ambassador to the UN, he was removed by Chirac who judged him too close to George Bush.
- Alain Bauer, the man of the shadows. His name does not appear in the directories. He is in charge of the secret services. Former Grand Master of the French Great Orient (the most important Masonic organization in France) and former N°2 of the United States National Security Agency in Europe. -
Add Sticky NoteFrank Wisner Jr. who in the meantime was named “special envoy” to President Bush for the independence of Kosovo, insisted that Bernard Kouchner be named minister of Foreign affairs with a double mission priority: the independence of Kosovo and the elimination of France’s Arab policy.
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Add Sticky NoteThanks to financial support from the National Endowment for Democracy, he took part in operations of Zbigniew Brzezinski in Afghanistan against the soviets, along sides with Oussama Ben Laden and the Karzai brothers.
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Kouchner started his career by participating in the creation of a humanitarian NGO.
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One finds him again in the 90’s working with Alija Izetbegovic in Bosnia Herzegovina. From 1999 to 2001 he was high representatives of the UN to Kosovo.
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Add Sticky NoteUnder the rule of the youngest brother of president Hamid Karzaï, Afghanistan became the first world producer of opium poppies transformed in heroin locally and transported by the US Air force to Camp Bondsteed (Kosovo).
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Add Sticky NoteThere, the men of Hacim Thaci take charge of the drug and distribute it mainly in Europe and accessorily in the United States.
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Karzai and Thaci are longstanding personal friends of Bernard Kouchner who undoubtedly ignores their criminal activities in spite of all the international reports which have been dedicated to them.
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The benefits are used to finance the illegal operations of the CIA.
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To complete his government, Nicolas Sarkozy named Christine Lagarde, minister of the Economy and Finances. All her career was made in the United States where she directed the prestigious law firm Baker and McKenzie.
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At the Center for international and strategic studies of Dick Cheney, she copresided with Zbigniew Brzezinski a working group which supervised the privatisations in Poland. She organized also an intense lobbying effort for Lockheed Martin against French airplane producer Dassault.
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New escapade during the summer. Nicolas, Cecilia, their common mistress and their children went on holidays to the United States at Wolfeboro, not far from the property of President Bush.
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Add Sticky NoteThe bill was paid this time by Robert F. Agostinelli, an Italian-New Yorker investment banker, Zionist and a pure brand of neo-conservative who writes in Commentary, the magazine of the American Jewish Committee.
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Add Sticky NoteThe success of Nicolas had impact on his half brother, Pierre Olivier. Under the American name of Oliver, he was named by Frank Carlucci (formerly N°2 of the CIA after having been recruited by Frank Wisner, Sr.) Director of the new investment fund of the Carlyle Group (the common investment firm of the Bush family and Ben Laden).
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Having become the 5th largest business dealer in the world, he handles the main assets of the sovereign funds of Kuwait and Singapore.
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One of his communications advisors, Jacques Seguela (also consultant for political communication at the NED where he is in charge of diverse CIA operations in Western Europe and Latin America), proposes to detract the public’s attention with new “people stories”.
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The popularity of the President is in a free fall in the polls.
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Add Sticky NoteThe announcement of the divorce with Cecilia was publicised by Libération, the paper of his friend Edouard de Rothschild, to cover up the slogans of demonstrators in a day of general strike.
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Stronger even, the communications agent organized a meeting between the president and the former top model, Carla Bruni. Some days later, her liaison with the president became official and the media hammering covered up once again political criticism.
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This time, he chose as best men Mathilde Agostinelle (the wife of Robert) and Nicolas Bazire, a former cabinet director of Edouard Balladur who became assistant manager at the Rothschilds.
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Some weeks later, the third marriage of Nicolas occurred.
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Add Sticky NoteWhen will the French use their eyes to see what they have to do ?
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References
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[1] Quand le stay-behind portait De Gaulle au pouvoir, par Thierry Meyssan, Réseau Voltaire, 27 août 2001
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3] L’Énigme Pasqua, par Thierry Meyssan, Golias ed, 2000.
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[5] Un relais des États-Unis en France : la French American Foundation, par Pierre Hillard, Réseau Voltaire, 19 avril 2007.
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6] Les New York Intellectuals et l’invention du néo-conservatisme, par Denis Boneau, Réseau Voltaire, 26 novembre 2004.
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[8] Dominique Strauss-Kahn, l’homme de « Condi » au FMI, par Thierry Meyssan, Réseau Voltaire, 5 octobre 2007.
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[10] Le gouvernement kosovar et le crime organisé, par Jürgen Roth, Horizons et débats, 8 avril 2008.
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[11] Avec Christine Lagarde, l’industrie US entre au gouvernement français, Réseau Voltaire, 22 juin 2005.
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[12] L’honorable Frank Carlucci, par Thierry Meyssan, Réseau Voltaire, 11 février 2004.
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[13] Les liens financiers occultes des Bush et des Ben Laden et Le Carlyle Group, une affaire d’initiés, Réseau Voltaire, 16 octobre 2001 et 9 février 2004.
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Fannie & Freddie's Friends In High Places, Inside Look At How Influential Mortgage Financers Kept Regulations At A Distance - CBS News
www.cbsnews.com/...main4264014.shtml - Preview
fannie-mae freddie-mac ponzie-scheme congress politcians home-loans middle-class low-income us-government greed congressmen washington-dc crooks lobbyists on 2008-09-08
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Fannie & Freddie's Friends In High Places
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Inside Look At How Influential Mortgage Financers Kept Regulations At A Distance
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NEW YORK, July 15, 2008
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<!-- sphereit start -->It was during the Great Depression that Fannie Mae was founded - in 1938 - with a simple purpose in mind: to give lower and middle income Americans more access to the Great American Dream, owning your own home.
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It did it by guaranteeing if a homeowner defaulted on a loan the bank would get paid, CBS News chief investigative correspondent Armen Keteyian reports.
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- Today Fannie and its smaller sibling, Freddie Mac, hold a pivotal place in the home loan market - one that has grown to include special advantages, such as:
- guaranteed lines of credits from the U.S. Treasury
- exemption from state and local taxes
- limited government oversight
- guaranteed lines of credits from the U.S. Treasury
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Their privileged status is that of government-sponsored Fortune 500 companies, powered by a vast political machine.
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"Fannie and Freddie have probably had more influence than any set of institutions in modern times," said former Rep. James Leach.
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Add Sticky NoteAs the former chairman of the House Financial Services Committee, Leach tried for years to hold Fannie and Freddie to tougher financial standards.
"You'd have people in Congress that would make it very clear that they wanted nothing to touch Fannie and Freddie," Leach said. -
CBS News has learned Fannie and Freddie now boast nearly 150 lobbyists - spending more than $5 million this year alone.
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In addition, the mortgage giants have doled out about $2 million more in campaign donations in the last four years to key member of Congress.
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"The view was always held that if they lost even a small battle, it might slide into something more meaningful," said former Rep. Richard H. Baker, R-La. "So every threat was taken seriously."
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A few years ago, Fannie was fined nearly $400 million after overstating earnings by $10 billion to maximize bonuses.
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In 2006, Freddie paid a record $4 million fine for illegal fundraisers.
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Add Sticky NoteBoth Fannie and Freddy say they've changed their ways. But, more and more, it appears two companies designed to help average Americans have, in fact, been helping themselves.<!-- sphereit end -->
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cbs5.com - SF Bank Under Siege By People Facing Foreclosure
cbs5.com/...via.bank.protest.2.809786.html - Preview
wachovia san-fransisco bank home-owners fixed-income home-loans subprime elderly foreclosures property poor banksters on 2008-09-08
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Sep 4, 2008
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SF Bank Under Siege By People Facing Foreclosure
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SAN FRANCISCO (CBS 5) ―
A San Francisco Wachovia branch was under siege Wednesday afternoon by people on the verge of losing their homes. -
Those people accuse the bank of giving them mortgages that the bank knew they couldn't afford.
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Wachovia is the owner of the former Oakland-based World Savings, a bank that CBS 5 has been investigating for months.
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Reporting
Anna Werner -
The bank is one of the Bay Area's largest, but one that advocates say repeatedly refuses to modify loans and help keep customers in their homes.
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A CBS5 investigation revealed a pattern of loans to elderly minority homeowners in Oakland and other cities, loans many now say they didn't understand, and could never afford.
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One of those people is 81-year-old Nell Walker of San Francisco, whose family said in 2006 received a "Pick-A-Pay" loan for over $300,000 even though she's on a fixed retirement income.
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"I think a lot of it was misleading and it wasn't explained," said Walker.
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"They gave it to my mom and to this day we still don't know how. She has never worked a day in her life," said her daughter Jacqueline Phillips.
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Now the minimum payment is about to go up, and Walker may lose her home of over 40 years. "It's awful! I'm 81 years old," she said.
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"We got fooled into loans that we couldn't understand, and I think they need to show a little good faith and renegotiate our loans," said her daughter.
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Phillips, who belongs to community organizing group Acorn, took her frustrations directly to the teller counter at this downtown Wachovia office.
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The demand: that the branch fax a letter to Wachovia's new CEO. "We would like you to fax this to your CEO," she told the branch manager.
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"We will not," he replied. As she later put it to us: "Just like Wachovia, that's what you get. The brushoff."
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A few hours later the bank did agree to fax the letter, which calls for Wachovia to renegotiate the protesters' loans.
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The Globalizer Who Came In From the Cold | 100777.com
joe-stiglitz imf world-bank us-treasury greg-palast interview defector nations interest-rates capitol third-world pirates rape economics larry-summers bill-clinton country-assistance-strategy nafta gatt on 2008-09-09
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The Globalizer Who Came In From the Cold
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June 1, 2003
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World Bank Insider Speaks Out by Greg Palast
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JOE STIGLITZ: TODAY´S WINNER OF THE NOBEL PRIZE IN ECONOMICS
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The World Bank´s former Chief Economist´s accusations are
eye-popping - including how the IMF and US Treasury fixed the Russian
elections
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This was like a scene out of Le Carre. The brilliant old agent
comes in from the cold, crosses to our side, and in hours of debriefing,
empties his memory of horrors committed in the name of a political ideology
he now realizes has gone rotten. -
"It has condemned people to death," the former apparatchik
told me. -
And here before me was a far bigger catch than some used Cold War spy.
Joseph Stiglitz was Chief Economist of the World Bank. To a great extent,
the new world economic order was his theory come to
life. -
I "debriefed" Stigltiz over several days, at Cambridge University,
in a London hotel and finally in Washington in April 2001 during the big
confab of the World Bank and the International Monetary
Fund. -
But instead of chairing the meetings of ministers and central
bankers, Stiglitz was kept exiled safely behind the blue police cordons,
the same as the nuns carrying a large wooden cross, the Bolivian union
leaders, the parents of AIDS victims
and the other anti-globalization protesters. The ultimate insider was
now on the outside. -
Add Sticky NoteIn 1999 the World Bank fired Stiglitz. He was not allowed quiet retirement;
US Treasury Secretary Larry Summers, I´m told, demanded a public
excommunication for Stiglitz´having expressed his first mild dissent
from globalization World Bank style. -
Add Sticky NoteHere in Washington we completed the last of several hours of exclusive
interviews for The Observer and BBC TV´s Newsnight about the real,
often hidden, workings of the IMF, World Bank, and
the bank´s 51% owner, the US Treasury. -
And here, from sources unnamable (not Stiglitz), we obtained a cache
of documents marked, "confidential," "restricted,"
and "not otherwise (to be) disclosed without World Bank authorization." -
Add Sticky NoteStiglitz helped translate one from bureaucratise, a "Country Assistance
Strategy." There´s an Assistance Strategy for every poorer
nation, designed, says the World Bank, after careful in-country investigation. -
But according to insider Stiglitz, the Bank´s staff investigation
consists of close inspection of a nation´s 5-star hotels. It concludes
with the Bank staff meeting some begging, busted finance minister who
is handed a restructuring agreement pre-drafted for his voluntary´
signature (I have a selection of these). -
Each nation´s economy is individually analyzed, then, says Stiglitz,
the Bank hands every minister the same exact four-step program. -
Add Sticky NoteStep One is Privatization - which Stiglitz said could more accurately
be called, Briberization. Rather than object to the sell-offs of state
industries, he said national leaders - using the World Bank´s demands
to silence local critics - happily flogged their electricity and water
companies. "You could see their eyes widen" at the prospect
of 10% commissions paid to Swiss bank accounts for simply shaving a few
billion off the sale price of national assets. -
And the US government knew it, charges Stiglitz, at least in the case
of the biggest briberization of all, the 1995 Russian sell-off. -
"The
US Treasury view was this was great as we wanted Yeltsin re-elected. We
don´t care if it´s a corrupt election. We want the money to
go to Yeltzin via kick-backs for his campaign. -
Add Sticky NoteStiglitz is no conspiracy nutter ranting about Black Helicopters. The
man was inside the game, a member of Bill Clinton´s cabinet as
Chairman of the President´s council of economic advisors. -
Add Sticky NoteMost ill-making for Stiglitz is that the US-backed oligarchs stripped
Russia´s industrial assets, with the effect that the corruption
scheme cut national output nearly in half causing depression and starvation. -
After briberization, Step Two of the IMF/World Bank
one-size-fits-all rescue-your-economy plan is Capital Market Liberalization.
In theory, capital market deregulation allows investment capital to flow
in and out. Unfortunately, as in Indonesia and Brazil, the money simply
flowed out and out. Stiglitz calls this the "Hot Money" cycle.
Cash comes in for speculation in real estate and currency, then flees
at the first whiff of trouble. A nation´s reserves can drain in
days, hours. And when that happens, to seduce speculators into returning
a nation´s own capital funds, the IMF demands these nations raise
interest rates to 30%, 50% and 80%. -
"The result was predictable," said Stiglitz of the Hot Money
tidal waves in Asia and Latin America. Higher interest rates demolished
property values, savaged industrial production and drained national treasuries. -
Add Sticky Note
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Add Sticky NoteThe IMF riot is painfully predictable. When a nation
is, "down and out, [the IMF] takes advantage
and squeezes the last pound of blood out of them. They turn up the heat
until, finally, the whole cauldron blows up," as when the IMF
eliminated food and fuel subsidies for the poor in Indonesia in 1998.
Indonesia exploded into riots, but there are other examples - the Bolivian
riots over water prices last year and this February, the riots in Ecuador
over the rise in cooking gas prices imposed by the World Bank. You´d
almost get the impression that the riot is written into the plan. -
And it is. What Stiglitz did not know is that, while in the States, BBC
and The Observer obtained several documents from inside the World Bank,
stamped over with those pesky warnings, "confidential," "restricted,"
"not to be disclosed." -
Add Sticky NoteLet´s get back to one: the "Interim
Country Assistance Strategy" for Ecuador, in it the Bank several
times states - with cold accuracy - that they expected their plans to
spark, "social unrest," to use their bureaucratic term for a
nation in flames. -
That´s not surprising. The secret report notes that the plan to
make the US dollar Ecuador´s currency has pushed 51% of the population
below the poverty line. The World Bank "Assistance" plan simply
calls for facing down civil strife and suffering with, "political
resolve" - and still higher prices. -
Add Sticky NoteThe IMF riots (and by riots I mean peaceful demonstrations
dispersed by bullets, tanks and teargas) cause new panicked flights of
capital and government bankruptcies. This economic arson has it´s
bright side - for foreign corporations, who can then pick off remaining
assets, such as the odd mining concession or port, at fire sale prices. -
Stiglitz notes that the IMF and World Bank are not
heartless adherents to market economics. At the same time the IMF
stopped Indonesia subsidizing food purchases, "when the banks need
a bail-out, intervention (in the market) is welcome." The IMF
scrounged up tens of billions of dollars to save Indonesia´s financiers
and, by extension, the US and European banks from which they had borrowed. -
Add Sticky NoteA pattern emerges. There are lots of losers in this system
but one clear winner: the Western banks and US Treasury, making the big
bucks off this crazy new international capital churn. -
Stiglitz told me
about his unhappy meeting, early in his World Bank tenure, with Ethopia´s
new president in the nation´s first democratic election. The World
Bank and IMF had ordered Ethiopia to divert aid money
to its reserve account at the US Treasury, which pays a pitiful 4% return,
while the nation borrowed US dollars at 12% to feed its population. -
The
new president begged Stiglitz to let him use the aid money to rebuild
the nation. But no, the loot went straight off to the US Treasury´s
vault in Washington. -
Now we arrive at Step Four of what the IMF and World
Bank call their "poverty reduction strategy": Free Trade. -
Add Sticky NoteThis
is free trade by the rules of the World Trade Organization and World Bank,
Stiglitz the insider likens free trade WTO-style to the Opium Wars. -
"That
too was about opening markets," he said. As in the 19th century,
Europeans and Americans today are kicking down the barriers to sales in
Asia, Latin American and Africa, while barricading our own markets against
Third World agriculture. -
In the Opium Wars, the West used military blockades to force open markets
for their unbalanced trade. Today, the World Bank can order a financial
blockade just as effective - and sometimes just as deadly. -
Add Sticky NoteStiglitz is particularly emotional over the WTO´s intellectual
property rights treaty (it goes by the acronym TRIPS, more on that in
the next chapters). It is here, says the economist, that the new global
order has "condemned people to death" by imposing impossible
tariffs and tributes to pay to pharmaceutical companies for branded medicines.
"They don´t care," said the professor of the corporations
and bank loans he worked with, "if people live or die." -
By the way, don´t be confused by the mix in this discussion of
the IMF, World Bank and WTO. They are interchangeable
masks of a single governance system. -
They have locked themselves together
by what are unpleasantly called, "triggers." Taking a World
Bank loan for a school triggers a requirement to accept every conditionality
- they average 111 per nation - laid down by both the World Bank and IMF.
In fact, said Stiglitz the IMF requires nations to
accept trade policies more punitive than the official WTO rules. -
Stiglitz greatest concern is that World Bank plans, devised in secrecy
and driven by an absolutist ideology, are never open for discourse or
dissent. Despite the West´s push for elections throughout the developing
world, the so-called Poverty Reduction Programs "undermine democracy." -
So then I turned on Stiglitz. OK, Mr Smart-Guy Professor, how would you
help developing nations? Stiglitz proposed radical land reform, an attack
at the heart of "landlordism," on the usurious rents charged
by the propertied oligarchies worldwide, typically 50% of a tenant´s
crops. So I had to ask the professor: as you were top economist at the
World Bank, why didn´t the Bank follow your advice? -
"If you challenge [land ownership], that would be a change in the
power of the elites. That´s not high on their agenda." Apparently
not. -
Ultimately, what drove him to put his job on the line was the failure
of the banks and US Treasury to change course when confronted with the
crises - failures and suffering perpetrated by their four-step monetarist
mambo. Every time their free market solutions failed, the IMF simply demanded
more free market policies. -
"It´s a little like the Middle Ages," the insider told
me, "When the patient died they would say, well, he stopped the bloodletting
too soon, he still had a little blood in him." -
I took away from my talks with the professor that the solution to world
poverty and crisis is simple: remove the bloodsuckers. -
Add Sticky Note
A version of this was first published as "The IMF´s
Four Steps to Damnation" in The Observer (London) in April and another
version in The Big Issue - that´s the magazine that the homeless
flog on platforms in the London Underground. Big Issue offered equal space
to the IMF, whose "deputy chief media officer"
wrote:
"... I find it impossible to respond given the depth and breadth
of hearsay and misinformation in [Palast´s] report."
Of course it was difficult for the Deputy Chief to respond. The information
(and documents) came from the unhappy lot inside his agency and the World
Bank.
-
-
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Wall Street privatises US government: be very afraid
-
By Charles DumasLast Updated: 2:03am BST 14/09/2008Page 2 of 3
- 27 more annotations...
-
-
Last autumn and winter, only too clearly panicked by Wall
Street's fear of meltdown, the Fed made huge cuts in interest
rates, as well as advancing (much more reasonably) over a quarter
trillion dollars to the money market. -
Nor is the monetary policy of the Federal Reserve designed to give
comfort. -
The sense of panic told global
investors all they needed to know. -
China's accumulation of reserves, running at $500bn a year,
had to be kept in dollars to support its (unwise) policy of
controlling the yuan/dollar exchange rate. -
But the funds all got
shifted to government or Frannie paper - no doubt a major force
behind the US government's backing of Frannie: -
sudden
withdrawal of China's dollar support genuinely might lead to
financial Armageddon, in contrast with a few badly needed Wall
Street failures. -
Others flew the dollar - to anything they could think of. The
euro, the yen, but notably to oil and other commodity derivatives.
Commodity derivatives held off the public exchanges, "over the
counter" (OTC), grew six-fold in three years, from $1.5
trillion at the end of 2004 to $9 trillion at the end of 2007 (and
no doubt more since, though the data have yet to be published). -
This is eight times the size of public-exchange commodity
derivatives about which information is more detailed. -
Nobody knows
the form of these OTC positions. But oil prices doubled from $70 a
barrel just before the credit crisis to over $140 at the peak in
July this year - and have since seen one of the fastest commodity
price collapses ever, to little over $100. Those positions contained
huge speculative accounts. -
Who pays for dearer oil? Chiefly, the US consumer.
-
Add Sticky NoteSo the rescue
of Wall Street has panicked the Fed into a policy that has hammered
American taxpayers, just as they have been called upon to finance
the bailout of Wall Street. -
The Fed's goals, as specified by Act of Congress, are to
sustain good growth and keep inflation low (in that order). -
Add Sticky NoteBy its
subjection to Wall Street priorities, it has both stimulated price
inflation - the CPI was up 5.6 per cent over the latest 12 months -
and thereby cut the real value of US incomes, and with them US growth. -
It has thus failed in both its mandated goals. With one bullet -
panicky interest rate cuts that have little relationship to saving
Wall Street in any case - it has shot itself in both feet. -
The irony is - I hesitate to say "joke", though black
joke it is - that Wall Street did not need it, and will not (of
course) be grateful. -
Add Sticky NoteSometime over this weekend, probably - or maybe
a little later - Lehman Brothers is expected to endure a similar
fate to Bear Stearns six months ago. -
Perhaps "Hank the hunk" Paulson, former head of the
leading Wall Street firm, Goldman Sachs, will play his usual highly
visible part in devoting US taxpayers' resources to the cause.
And will the world come to an end? Just as was feared at Y2K, or the
CERN experiment last week? Well, actually, no. -
And Wall Street realised this on Thursday when, after several
days' worry over Lehman's fate, the stock market managed
to go down sharply at the opening and then realise that it did/does
not matter so much after all, ending up sharply instead. Neither
would it have mattered much last March, had Bear Stearns simply been
let go. Finally light has dawned. -
Free markets have
been abandoned in America at the crucial hour by their chief
exemplars, the financial masters of the universe. -
In the meantime, the world has been changed.
-
Let us hope that
the convictions of the British financial and political community,
though less confidently flaunted, will prove more durable. -
Firms that fail after doing stupid things - or sometimes firms
that are just plain unlucky - should go to the wall. -
Opinions may
differ as to which category Northern Rock (our own particular policy
disgrace) falls into. -
The economy will recover sooner if banks that have made stupid
mortgage loans suffer, and house prices fall more rapidly to levels
at which affordability is obvious and buyers come forward. -
We should be grateful the Bank of England
has an inflation target, not a confusing mishmash like the Fed. And
that Mervyn King sticks to it. -
Society
will also be more just. -
It seems that President Bush and the Republicans are not just well
to the left of Grover Norquist. They leave clear blue water on the
left of Gordon Brown, much to the envy of Euro-lefties no doubt, who
would love to ditch what they call "neo-liberalism", and
what we call free markets, as easily as the American right wing.
-
-
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Wall Street privatises US government: be very afraid
-
By Charles DumasLast Updated: 2:03am BST 14/09/2008Page 1 of 3
- 23 more annotations...
-
-
The US low-tax zealot, Grover Norquist, is famous for wanting to
"shrink government down to the size where we can drown it in
the bathtub". -
Still alive, he is not turning in his grave, but
his idea has been well and truly buried - and not by the Democrats
he hates; they have been tongue-tied on the credit crisis. -
It is Wall Street, the paradigm of "red in tooth and
claw" capitalism, that has turned to government subsidy on an
unprecedented scale. -
Low, ideally non-existent, taxes may be very desirable, but when
free-market principles came into conflict with the survival of
business as we know it, priorities were clear. The US Federal
government's full faith and credit - in other words, the
resources of American taxpayers - should be urgently deployed to
preserve as much as possible of the financial industry. -
Luckily for Wall Street, government was still too big to fit in
that bathtub - and proved only too willing to take up the challenge. -
The scale of the operation has been huge. The Bear Stearns'
takeover last March by JP Morgan was helped down by a spoonful of
sugar in the form of $29bn of quasi-equity investment by the Federal
Reserve Board that can only go down in value, never appreciate. -
By March the Fed might have been forgiven for hardly noticing a
mere $29bn: it had provided more than $250bn in liquidity assistance
to the money markets, accepting dodgy mortgage paper as collateral. -
Lucky old Wall Street - though, to be fair, this liquidity was the
only justifiable aspect of the Fed's conduct in the 15 months
of credit crunch. -
The "Bear" was only the hors d'oeuvre, as anyone
could see. After a mid-summer Act of Congress promising major help
to the mortgage market, the full scope of potential largesse from
Washington was more thoroughly exploited last weekend when the two
giant "government sponsored enterprises", nicknamed Fannie
Mae and Freddie Mac - here collectively "Frannie" for
convenience - were formally extended a Federal government guarantee
by Treasury Secretary Paulson. -
Out of the country's total home mortgages of
$10.5 trillion the lowest tier, sub-prime, is (or was) about $1.5
trillion, with another dubious category called "Alt-A"
(also not "prime"), of another $0.5 trillion. -
Frannie is emphatically, in fact by definition, not part of the
sub-prime crisis. -
Add Sticky NoteWithin sub-prime, came the so-called "Ninja" mortgages:
qualifications required being No Income, No Job or Assets, and in
the bulk of cases no documentation either. -
Wall Street's
enthusiasm for this kind of paper led to the losses even at 15 per
cent higher, house prices a year ago, requiring the hors
d'oeuvre described above. -
With house prices now nearly 20 per cent down from their peak, the
story has moved on from sub-prime to prime. Frannie is the main
course. -
The definition of a prime loan is one that can be taken onto
the Frannie balance sheet, or placed with investors under a Frannie
guarantee. With about $8.5 trillion of prime loans out there in
total, Frannie is on the hook, in one form or another, for more than
half, some $4.5 trillion. -
Back in the sound-money days of more than a half-century ago,
Senator Everett Dirksen came up with the classic thought about the
US Federal government: "A billion here, a billion there… pretty
soon you're talking about real money". -
In these go-go days for fiscal "conservatives", it
is more like "a trillion here, a trillion there…". -
The Frannie deal is big even by today's standards. It
single-handedly vaults the US from a public debt ratio in the
sound-money range into the company of fiscal basket-cases like Italy
and Belgium, and that long-standing economic invalid, Japan. -
The chart shows how the net US government sector debt pre-Frannie
was about the same size relative to the economy as Germany, though
worse than other G7 peers such as Canada, Britain and France. Now
with one bound, the addition of $4.5 trillion puts it up there with
Italy and Japan.
Fed closes the door on hands-off economics. Source:
Lombard Street Research -
For connoisseurs, the post-Frannie endorsement of the rating
agency, Standard & Poor's, may raise an eyebrow: the
triple-A rating of the US government is unaffected, we were told
after last weekend's events. -
Many a nasty, even catastrophic,
deterioration of credit has started with such a reassurance. -
I have myself dealt with bankruptcy of a company that was
actually "in the can" less than a year after it was
triple-A rated. But triple-A rated mortgage securities trading at 50
cents in the dollar are bad enough. -
A bank whose credit-worthiness
requires public defence has generally lost it.
-
-
-
Execute
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jim-kirwan dick-eastman federal-reserve nwo america economy us-government state communities currency banksters traitors treason luciferians americans citizens bob-taft ron-paul bob-barr on 2008-09-20
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Add Sticky NoteThis is a controlled economic event,
a well-planned transfer of wealth, an intensified concentration of financial
power among the credit monopolists. -
Add Sticky NoteBut of course they made it nearly impossible for us to declare bankruptcy
from the condition their manipulations forced upon us. - 56 more annotations...
-
-
Add Sticky NoteAnd the Rothschilds' IMF audited the Fed to learn exactly
what could be gotten away with -- this will help you remember http://www.rense.com/general82/audit.htm
. -
Anyway, I have been enjoying my retirement from "conspiracy
theory" and home-schooling my 12-year-old daughter Madeleine is going
well -- I don't even think about the world outside the house. -
My heath
and happiness have increased -- only at night or when driving past the
empty houses for sale and the boarded up businesses -- see picture above
-- does the truth break out in my mind and a cloud comes over Dad's face. -
Add Sticky NoteI wrote a solution back March on what should be done
"If the Banks Fail" which is still available on rense here:
http:// www.rense.com/general82/banks.htm -
On Friday, I re-hook up the computer to let my daughter
view the youtubes her young friends have made -- and when she is done
I download my mail. The no-planers and gatekeepers are still controlling
the 9-11 discussion. -
Add Sticky NoteThe pro-Obama, pro-Paul and pro- Barr people are
still pretending to be on our side and most of you are believing it. -
But just as no herd of cattle was ever benefited by a maverick steer (especially
one with the AIPAC brand) so we see that Obama's advisors are all money
power Zionists -- his economic adivsors and his VP -- are as close to
Bush as Bill Clinton was close to Newt Gingrich on every issue of the
Rockefeller-Rothschild globalist agenda. -
Add Sticky NoteAnd St. Paul of the Golden
Cross was so clever to "endorse Barr, McKinney and Nader and a few
others" making it look like he is resistance, when in fact by not
zeroing in one any one opposition candidate to support he has in effect
taken all of that support people have given him and wrapped it in a big
wet sack and tossed it into the black and bottomless well of nowhere and
never. -
Paul has done his job for his masters -- he has prevented real
opposition from appearing, just as Kucinich and Perot before him. -
I have been reading Plutarch's lives at night. His Lives
of the Noble Greeks. Plutarch understood politics better than we do.
If you ever homeschool your teens, have them read Plutarch's biography
of Alcibiades -- and you will see the perfect type of the people who
rule the world today. -
I was amazed that this account by Plutarch existed
and that no one has told me about it before I discovered it from a copy
purchased at Good Will when looking for some pants that fit. -
Every citizen
of any commonwealth with any hope for saving his countrymen from penury
and slavery should read this warning of what evil men are capable of and
how they operate. -
http://penelope.uchicago.edu/Thayer/E/Roman/Texts/Plutarch/Lives/
Alcibiades*.html -
- Or here:
- http://www.bostonleadershipbuilders.com/plutarch/alcibiades.htm
- Or here:
-
Now we know what the elites have been reading and why
they love the classics and keep them to themselves. -
- You may also wish to read about the founder of Sparta
-- for the type of man that we the people need today -- for that read
Plutarch's history of Lycurgus
- http://penelope.uchicago.edu/Thayer/E/Roman/Texts/Plutarch/Lives/
Lycurgus*.html
- http://www.constitution.org/rom/plutarch/lycurgus.htm
- You may also wish to read about the founder of Sparta
-
The watchman on the wall must sound the alarm or the
blood of his city will be on his hands. -
- Yours sincerely,
- Dick Eastman
- Yakima, Washington
- Every man is responsible to every other man. oldickeastman@q.com
- Yours sincerely,
-
Comment
Bob Taft -
Most of the "why's are well known but it is the
dearth of solutions that most hesitate to suggest. -
Apparently those in attendance at the meeting of politicians
and bureaucrats that just decided on the current bailout of the banksters
all went away "scared" according to reports. -
Five million Main Street
home owners indebted to the banksters vs. a handful of mega-banksters
on Wall Street. More billions to come out of our hides. No question
as to who wins. -
We should all
be scared of what they have decided to do to us. -
On the solution side, there is one emergency plan that
worked well in 1933 and could do so again. You can buy a catalog of
DEPRESSION SCRIP, quite a big book, for collectors of such. -
When Roosevelt
shut the bank doors for a few days - to save the banks - thousands of
communities across the country, and in Canada, went to their local printers
and had local currency printed up to keep local economies moving. -
Not
all were political entities, many fraternal or business groups jumped
in to run the programs. All it took was a few people with integrity. -
Add Sticky NoteWe know that this is seriously lacking in FedGov.
-
To be sure, the banks
quickly reopened, lest the people discover that they could get along quite
nicely without them. -
Actually there are hundreds of communities already in
position, using local currencies to a limited extent. -
Like UticaHours
in NY state. -
Add Sticky NoteWhile all our political subdivisions in the US are corporate
entities functioning with huge asset accumulations as shown in their CAFRs,
there are undoubtedly many thousands of local politicians and local government
employees who when the chips are down, as they are about to be, will side
with their fellow citizens and against the faceless banksters who manage
the huge accumulations of wealth in government coffers. -
Actually all
wealth, governments' included, is placed at risk by the criminal minds
on Wall Street and in the Fed, which is actually owned by Wall Street
and their ilk. -
It will soon become critically important for all communities
to have a currency available to keep their economies viable. -
It would
be great of the several states would do this so their currencies might
keep larger territories functioning. Better yet, it would be great if
the states would use their own ability to create currency, and the threat
thereof, to force US Treasury to go back into money creation and to DUMP
the FedRes. -
So what if the 1787 ConJob says only the US may create money.
They have abandoned that mandate for nearly a century. -
It is time the
American people demanded the government do what their ConJob requires
of them. OR ELSE, the states will take charge. -
- All revolutions need
not be bloody ones. The system is collapsing. Time is of the essence.
Screw Wall Street.
- Best regards,.
- Bob Taft
- The Taft Ranch
- Upton, Wyoming
- All revolutions need
-
- Comment
- Jim Kirwan
- Comment
-
Excellent analysis Dick, but equally dire because you
care so much about those of us that are trapped at the bottom of the ladder -
In so many ways you and I are very much alike, and yet
in many ways we are also polar opposites, not by nature, but by circumstance
and environment. -
I just finished a trio of articles on this same topic,
but I've lived and worked "among them" for many many years.
And what I gleaned from that experience is that they always eat their
young along with all those they are sometimes forced to come in contact
with: once anyone comes to "know" this they violate the margins
of their own survival by failing to remember who these butchers truly
are. -
In many ways I envy your 'place apart' but I could never
live there. I wanted to go to college many decades ago, to actually get
an education, and while I had three full scholarships lined up each one
met with complete disaster for one reason or another, until I figured
out that I wouldn't be going to college - so I set about educating myself
instead. -
I'm pleased with how that worked out, but that's also part of
what separates our views in these treacherous times. -
My 'education' is
of the kind where there are very seldom any second chances, hence there
is almost no room to retain too much illusion. Imagination and creativity
- YES, but expecting the junk-yard-dogs to suddenly lie down with new-born
infants isn't part of these equations. -
I love literature and the arts, but for me; when I first
began to paint I wore a 32 Berretta in a shoulder-holster, with a paint
brush in my other hand, and because of where I was and how I was living
that was not extreme. -
That 'kid' seems to have remained alive at least
inside, even though I no longer wear a gun: but I have come to understand
that part of fighting for anything is the willingness of spirit to see
the value in that native expression: "It's a Great Day to Die." -
I realize that this only works for some people, it is certainly not something
that would work for most. This by way of saying that whenever anyone wants
to change anything major in this world, then we must be prepared to fight
those enemies where they live, but with our weapons, not theirs. -
I've shed some blood over the things I believe in, and
lost some of my own in that process. I've survived a number of 'contracts'
on my life, over the years by some equally determined people from the
other side. I'm still here, most of them are not. -
But no one can remain
lucky or careful enough forever, and none of us gets out of this experience
alive. -
What has carried me a lot further than I could ever have imagined
are the invisible means of support that I've been fortunate enough to find
along the way. That is indicated by the bright line of fire near the knees
that indicates the strength of the invisible- means-of-support, that anyone
with them can fall back upon. http://www.kirwanesque.com/deck/crossroads/xii.htm -
I imagine that you have had similar experiences. Please
revisit your power-bases and recharge the batteries, because the worst
is yet to come, and we need you in one piece for the war that's coming! -
Critical thinking in my case came out of the need to
survive in a world where I was very small and without most of the resources
that tend to assist the downtrodden with small victories. -
The logic and
reason that have survived in my world have been tempered in cauldrons
of fire and caves of ice: it's part of what has shaped me, and at the
same time it sets my views apart from most of the others that roam the
fringes of society today. -
Please stay in the fray Dick, do not let the bastards
grind you down - they will ultimately fail, because no cause or person
can survive with the kind of Karma they're currently dragging around,
and the world 'knows' this, as clearly as we do. -
Thank you for the article! It will take some time to
absorb it all, given everything else you sent as well, but I'm sure there
will be much in there that will go further than you might imagine at this
moment - because nature still has lots of cards to play, and nothing
is yet written in stone! -
- These creatures brought us the first major depression
and everything from then till now, but that does not mean that they have
a license to continue doing this to all the rest of us, in perpetuity!
- Please keep writing. . .
- kirwan
- These creatures brought us the first major depression
-
-
-
One Of The Great Vortexes Of History
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karl-schwartz us-government america united-kingdom europe world end-time banksters rothschilds history illuminati luciferians conspiracy nwo antichrist economics wars on 2008-09-21
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We Are In One Of The Great
Vortexes Of History -
By Karl Schwarz
9-21-8 - 57 more annotations...
-
-
Add Sticky NoteWe are in one of the great vortexes of history now.
-
If
you stand back, from the "trees" of daily life, and look at the
broad "forest" of our joint history as the human race, you can
see clear patterns. -
Every so often the human race, or major parts thereof,
goes through major life changing events: wars, revolutions, economic crisis/recessions/depressions. -
It is clear that we are now in one of the largest of such events; that
we are in a great vortex and we have not even gone half way into this experience. -
Terms like "global financial meltdown", "global
financial catastrophe", "World War III", "global depression"
are becoming standard in describing where we are and where we are headed. -
The world's central banks are pumping hundreds of billions of dollars into
the global economy. Additionally government backed bailouts and arranged
sales in the tens and hundreds of billions are now daily events, -
- the total
in America alone is now about one trillion dollars; and still the news
continues to get worse.
- the total
-
Many are rightly claiming to have warned us of the financial
nightmare that we are now in. -
A nightmare that is more and more like a
"tar baby"; the more we handle it, the worst it gets. One economic/financial
crisis leads to another. -
Already serious worries about the US$455 trillion
derivative market are beginning to creep into worried conversations and
news stories. Elderly people, who can remember the "Great Depression"
are saying we are going into another one; and increasingly serious economic
experts are voicing the same opinion. -
We "knew", or should have known, that the dismantling
of governmental controls, erected in the aftermath of the Great Depression,
would eventually cause a financial firestorm. -
We "knew", or should
have known, that the "hands off" approach of the last several
administrations in America, and the United Kingdom and elsewhere, would
lead to no good. -
We "knew", or should have known, that all these
new financial instruments, debt swaps, derivatives, etc., etc., were nothing
but trouble. -
So, why did "we" let this happen.
-
Add Sticky NoteThe answer is
two-fold: the "we" is not us; and the "we" is us. The
true masters of the financial world, and political world for that matter,
are simply not the elected political leaders ~ they are largely just "front
men" ~ -
the real power always is largely unseen and "behind the
throne" and constitute a very tiny percentage of the human race. -
Add Sticky NoteHowever,
we ~ the great masses of people ~ are the very ones that empower those
behind the throne/curtain, who like the Wizard of Oz can only maintain
control if the masses chose to remain blind, stupid, and too lacking in
courage and morality to see and change reality. -
Add Sticky NoteThe world's economy and politics are largely controlled
by a small number of global banking families, some of whom have been at
the game for over 200 years. -
They have simply massive levels of money and
resources of all types at their disposal. They control the central banks
of America (the Federal Reserve, which is privately owned ~ no more a part
of the constitutional Federal government than Federal Express [Fed Ex]
is), the European Union, etc. -
These families follow a formula when they want to institute
changes for their own benefit: thesis, antithesis, synthesis. -
For example,
they organized the First World War, and it resulted in mass murder and
economic crisis as it went on for years. -
In the Russian Empire the "thesis"
was WWI, the "antithesis" was the effect on the population and
the political "blow back" from the war. The "synthesis"
was the rise of communism, which they financed and controlled, and the
total police state control of the former Russian Empire that it gave them. -
Add Sticky NotePrior to WWI the Russian Tsar would not allow the Rothschilds and other
global bankers to control his economy. -
The "synthesis" was one
of the true goals of the "thesis" (WWI) and the "antithesis"
(the population's response to the horrors of war). -
The Great Depression was the antithesis to the excesses
(thesis) of the 1920s and the result (synthesis) was a greatly expanded
Federal government with massive programs (aimed at ending the Great Depression)
that required vast amounts of funding from their privately owned Federal
Reserve Bank and its ability to create money out of thin air and loan this
back to the government and collect interest on it (instead of the government
just creating the money itself without any interest being due to private
bankers). -
Add Sticky Note
- Side benefits to the global banking families was a great shake
out of wealthy Americans and their ability to capture a much larger amount
of corporate ownership/control than had existed before (using cutouts,
front men, and corporate control mechanisms established by them).
- Side benefits to the global banking families was a great shake
-
The Rothschild's Illuminati organization was instrumental
in setting up (thesis) and controlling the French Revolution (antithesis)
and the rise of Napoleon (synthesis). -
Add Sticky NoteHe in turn was instrumental in reshaping
the world, and in a massive growth in governmental debt as nations throughout
Europe borrowed money to arm themselves and fight in the various Napoleonic
wars. -
The game of thesis, antithesis, synthesis is played on
many levels and many such "games" are often ongoing at the same
time (think of it as multiple interrelated games of space chess). -
The unchecked
banking greed and the lack of proper legal controls and governmental oversight
(thesis) has led to the current nightmare events of major banks and insurance
companies failing or being bought out or funded by governments (antithesis). -
The synthesis is that, just in the United States alone, one trillion dollars
of new public debt has been created in the last week or so to "solve"
the problems. -
New debt that enriches the private owners of the Federal
Reserve System. -
One trillion dollars of debt, on top of the already massive
US national debt, that the American public has to pay interest on for many,
many, years. -
Add Sticky NoteOf course, the "debt solution" is itself a antithesis
in a broader game with the synthesis being the New World Order (or a major
step towards it). -
The current "solution" to the crisis that the
FED and the Bush Administration have come up with allows the corrupt gains
to remain privatized while socializing the losses that Wall Street and
the global bankers have created. -
Its all a great evil scam and we, the public, are too
stupid, too scared, too blind, too wrapped up in television/etc. to be
educated as to what is really going on. -
And most importantly, we are simply
too lacking in good morality to have the strength, the moral strength,
to fight it. -
We are being told by the same governmental "leaders"
that allowed the current economic crisis to happen on their watch, that
they have fixed the problem with the latest round of new debt and governmental
slight of hand. Don't believe it for a second. -
We have just had a little
more chewing gum and bailing wire slapped on the global economic system,
but the system is collapsing and adding more national debt, no matter how
many trillions are involved, will not cure the problem. In fact the cure,
in this case, is simply more poison for the dying system. -
All of this has been planned. Do not let yourselves play
the village fool saying "why did they let this get so out of hand",
or "you would think that they could come up with something....". -
The global banking families, whose hands control the levers of political
and economic power in most nations of the world (and certainly America,
the United Kingdom, France, etc.), are very intelligent and are playing
a very sophisticated game ~ -
actually the eco-political grand strategic
control of the world is the most sophisticated of all games. As FDR use
to say, "if something happens in politics you can bet that someone
planned it to happen". -
Add Sticky NoteThey are moving the world to a New World Order in which
they will have absolute and total control of all wealth and all levers
of political and military power. -
To a world that utilizes 21st Century
technology to enslave the population. To a world that has a large percentage
of the "unnecessary eaters" purged by the coming next world war. -
Don't think that such a thing is possible? They organized, bankrolled,
and created the communists and killed about 80 to 100 million people in
the former Russian Empire and enslaved the remainder (and added most of
Eastern Europe after the Second World War) in a communist police state
using old technology. -
They bankrolled Hitler and his goons and set up the
Second World War. -
They organized the beginning of the First World War;
Trotsky was the controller of the team that killed the Hapsburg Archduke
that was the spark that began the war (of course, they had spent years
funding the military buildup and manipulating events to get Europe "ready"
for the "Great War"). -
In the United Kingdom there is now one police spy camera
for every seven citizens; it is impossible to travel down a major roadway
for any distance without being under computer controlled police observation. -
The laws passed in the aftermath of 9/11, their organized false flag operation,
are designed to control the population and to end Americans' God given
rights that our ancestors fought for. -
Similar laws have been passed in
the United Kingdom in the aftermath of the 7/7 false flag operation. -
Across
Europe and much of the world, draconian measures have been passed into
law by national parliaments, all in response to the so-called "war
on terrorism". All based on lies and the greed of a very small number
of very powerful people leading the masses into the worst nightmare of
human history. -
Add Sticky NoteThe fact that so many of the secret ruling elite are
satanists should not be surprising. -
Ultimately, where their current End
Game in the drive for a New World Order is taking us is a place of total
global destruction. -
The various 21st Century weapons of mass destruction,
such as global strategic advanced biowar and global strategic nuclear war
and scalar war, are not weapons that are survivable for the human race
in a new world war. -
When you view the current strategic scenarios in a
cold analytical light and extrapolate what will happen you can only come
to the conclusion that the game is a satanic one that the human race cannot
win, -
Add Sticky Noteand in fact, seems very similar to the rather strange last book of
the Christian Bible. -
- Sadly, there is no force, political or otherwise, that
seems capable of reversing the trend to global economic disaster and global
war.
- Stirling
- Sadly, there is no force, political or otherwise, that
-
-
-
Bloomberg.com: Treasury Seeks Asset-Buying Power Unchecked By Courts
bloomberg.com/...news - Preview
treasury-secretary henry-paulson congress taxes citizens financial-crisis america banksters gangsters nwo thugs president-bush pelosi obama mccain dictator national-debt on 2008-09-21
-
Treasury Seeks Asset-Buying Power Unchecked by Courts (Update2)
-
By Alison Fitzgerald and John Brinsley
- 53 more annotations...
-
-
Sept. 21 (Bloomberg) -- The Bush administration sought
unchecked power from Congress to buy $700 billion in bad
mortgage investments from financial companies in what would be
an unprecedented government intrusion into the markets. -
Through his plan, Treasury Secretary Henry Paulson aims to
avert a credit freeze that would bring the financial system and
the world's largest economy to a standstill. -
Add Sticky NoteThe bill would
prevent courts from reviewing actions taken under its authority. -
Add Sticky Note``He's asking for a huge amount of power,'' said Nouriel
Roubini, an economist at New York University. ``He's saying,
`Trust me, I'm going to do it right if you give me absolute
control.' This is not a monarchy.'' -
As congressional aides and officials scrutinized the
proposal, the Treasury late yesterday clarified the types of
assets it would purchase. -
Paulson would have authority to buy
home loans, mortgage-backed securities, commercial mortgage-
related assets and, after consultation with the Federal Reserve
chairman, ``other assets, as deemed necessary to effectively
stabilize financial markets,'' the Treasury said in a statement. -
Add Sticky NoteThe Treasury would also have discretion, after discussions
with the Fed, to make non-U.S. financial institutions eligible
under the program. -
The plan would raise the ceiling on the national debt and
spend as much as the combined annual budgets of the Departments
of Defense, Education and Health and Human Services. -
Add Sticky NotePaulson is
asking for the power to hire asset managers and award contracts
to private companies. -
Most provisions of the proposal expire
after two years from the date of enactment. -
Markets `Fragile'
-
Paulson spent the morning today appearing on the Sunday
television talk shows to build public support for his plan. -
He
urged quick approval by Congress, saying financial markets are
``fragile.'' While the plan should have ``mortgage relief
components,'' he suggested legislative changes should be kept to
a minimum.
``We want this to be clean, we want this to be quick,''
Paulson said on Fox News Sunday. -
Add Sticky NoteSpeaking on NBC's ``Meet the Press, he said: ``This is not
a position where I like to see the taxpayer, but it is far
better than the alternative.'' -
He added that assets bought by
the Treasury would later be sold, recovering some money for the
government. -
A failure by the government to support the U.S. financial
system could lead to ``a depression,'' Senator Charles Schumer,
a New York Democrat told reporters yesterday. ``To do nothing is
to risk the kind of economic downturn this country hasn't seen
in 60 years.'' -
Buyer of Last Resort
-
The Treasury is seeking authority to step in as buyer of
last resort for mortgage-linked assets that few other financial
institutions in the world want to buy, following government
takeovers of mortgage giants Fannie Mae and Freddie Mac and
insurer American International Group Inc. -
``Democrats will work with the administration to ensure
that our response to events in the financial markets is swift,''
House Speaker Nancy Pelosi said in a statement. -
Add Sticky NoteThe majority party will seek to reduce mortgage
foreclosures and create ``fast-track authority'' for an overhaul
of financial regulation, Pelosi said. -
Add Sticky NoteDemocrats will ensure
``the government is accountable to the taxpayers in any future
actions under this broad grant of authority, implementing strong
oversight mechanisms.'' -
The proposal will include curbs on executive pay for the
companies whose assets the government will be buying, Steve
Adamske, a spokesman for Representative Barney Frank, said
yesterday in an interview. -
Preventing Foreclosures
-
Democrats also will include a plan to stem foreclosures,
which may involve tapping the loan-modification abilities of the
Federal Housing Administration, the Federal Deposit Insurance
Corp., and Freddie Mac and Fannie Mae, Adamske said. -
Frank, a
Democrat from Massachusetts, is chairman of the House Financial
Services Committee. -
Senate Majority Leader Harry Reid said that while he has
misgivings about the rescue plan, ``the consequences of inaction
could be catastrophic.'' -
``While the Bush proposal raises some serious issues, we
need to resolve them quickly,'' he said yesterday in a
statement. ``I am confident that, working together, we will.'' -
House minority leader John Boehner, an Ohio Republican,
said yesterday he is reviewing the proposal but didn't say
whether he was inclined to support it. -
Add Sticky Note``The American people are furious that we're in this
situation, and so am I,'' Boehner said in a statement. ``We need
to do everything possible to protect the taxpayers from the
consequences of a broken Washington.'' -
Protection for Taxpayers
-
Congress, which may pass legislation as soon as Sept. 26,
needs to ``make sure there are protections built in for
taxpayers,'' said Schumer, a New York Democrat on the banking
committee. -
Lawmakers should ensure ``taxpayers who gave the
money will be put ahead of the stockholders, bondholders and
others.'' -
Yesterday on Capitol Hill, legislative aides wearing polo
shirts and jeans instead of their usual business suits filed
into the House Financial Services Committee hearing room to
question Treasury officials -
including David Nason, assistant
secretary for financial institutions, and Neel Kashkari, a
senior adviser to Paulson and former investment banker at
Goldman Sachs Group Inc., where the Treasury secretary was
previously chief executive officer. -
Paulson is seeking an expansion of federal influence over
markets that hasn't been seen since the Great Depression, said
Charles Geisst, author of ``100 Years of Wall Street'' and a
finance professor at Manhattan College in New York. -
President George W. Bush said he called leaders in both
houses of Congress and ``found a common understanding of how
severe the problem is and how necessary it is to get something
done quickly.'' -
Add Sticky Note``This is going to be a big package because it's a big
problem,'' Bush said following a meeting with Colombian
President Alvaro Uribe at the White House. ``We need to get this
done quickly, and the cleaner the better.'' -
Add Sticky NoteDemocratic presidential nominee Barack Obama said in a
radio address that he ``fully supports'' Paulson and Fed
Chairman Ben S. Bernanke's efforts to stabilize the financial
system. The plan, however, should benefit both main street and
Wall Street, he said. -
McCain Comments
-
Republican Presidential nominee John McCain ``looks
forward'' to reviewing the proposal while focusing at least in
part on ``minimizing the burden on the taxpayer,'' said Jill
Hazelbaker, communications director for the McCain campaign. -
The ban on legal challenges of actions by Treasury is
``distasteful, it's unfortunate and it's bad precedent, but this
is an emergency and you have to act,'' said Jerry Markham, a law
professor at Florida State University and author of ``A
Financial History of the United States.'' -
``What you don't want happen is to have lawsuits that will
slow things down and cause problems,'' he said. -
The proposal would raise the nation's debt ceiling to
$11.315 trillion from $10.615 trillion and require the Treasury
secretary to report back to Congress three months after Treasury
first uses its new powers, and then semiannually after that. -
Paulson would gain discretion to act as he ``deems
necessary'' to hire people, enter into contracts and issue
regulations related to a revival of U.S. mortgage finance,
according to a three-page proposal. -
The Treasury would ``take
into consideration'' protecting taxpayers and promoting market
stability. -
Reverse Auctions
-
The Treasury may hire managers to purchase the assets
through so-called reverse auctions, seeking the lowest prices,
Treasury said yesterday. -
The document specifies that Treasury
may buy only assets issued or originated on or before Sept. 17. -
The House will pass legislation to implement the plan by
the end of this week, and the Senate will act soon after, Frank
said on Sept. 19 in an interview on Bloomberg Television's
``Political Capital with Al Hunt.'' -
Bush said yesterday he's unconcerned that the price tag on
the package may seem high. -
``I'm sure there are some of my friends out there that are
saying, `I thought this guy was a market guy, what happened to
him?''' the president said. ``My first instinct was to let the
market work, until I realized, while being briefed by the
experts, how significant this problem became.'' -
Add Sticky NoteThe Bush administration seeks ``dictatorial power
unreviewable by the third branch of government, the courts, to
try to resolve the crisis,'' said Frank Razzano, a former
assistant chief trial attorney at the Securities and Exchange
Commission now at Pepper Hamilton LLP in Washington. ``We are
taking a huge leap of faith.'' -
To contact the reporter on this story:
Alison Fitzgerald in Washingtont ;
John Brinsley in Washington at
jbrinsley@bloomberg.net
-
-
-
Page 2: Financial crisis: Default by the US government is no longer unthinkable - Telegraph
And this is why I think it more than curious that the 1 BCT of the 3rd ID, stationed at Ft Stewart, Georgia, has been put under North Com beginning Oct 1, 2008 for training and standby in case of natural disasters and "other" events. It looks to me that actual martial law, if not covertly being implemented by Oct 1, is at least being prepared in light of what is about to happen to the American people, courtesy of the criminal bastards running the government and their Bankster-Gangster thug friends.
www.telegraph.co.uk/...main.jhtml - Preview
treasury-department henry-paulson bail-out banks wall-street default us-government t-bills worthless money dollars nwo on 2008-09-21 and saved by 2 people
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Financial crisis: Default by the US government is no longer unthinkable
-
By Liam HalliganLast Updated: 11:48am BST 21/09/2008Page 2 of 2
- 6 more annotations...
-
-
But, in the run-up to the US election in November, Democrats in
Congress - and even some Republicans - may decide they're
simply not having it. -
How much more can the US taxpayer take?
-
It
sounds insane, but the liabilities being taken on by the Fed and the
US Treasury are now so enormous that the government itself could
default. No? -
How fragile we are: Chickens may yet come home to
roost for the US governmentCheck out the chart showing the recent spikes in the US 10-year
credit default swap. In other words, the market is now pricing-in
the genuine possibility that the US will struggle to pay-back some
of its long-term T-bills. -
That possibility is still deemed to be quite low. But the ultimate
financial question - until recently, unthinkable - is now being
asked. -
Yes siree, the mighty US government could default.
That's how much the world has changed.
-
-
-
Page 1: Financial crisis: Default by the US government is no longer unthinkable - Telegraph
www.telegraph.co.uk/...main.jhtml - Preview
banks aig lehman-brothers wall-street henry-paulson debt main-street usa uk treasury-department us-government subprime loans mortgages foreign-banks on 2008-09-21 and saved by 3 people
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Financial crisis: Default by the US government is no longer unthinkable
-
By Liam HalliganLast Updated: 11:48am BST 21/09/2008Page 1 of 2
- 28 more annotations...
-
-
After the
tumultuous events of the last fortnight, the global economic
landscape will never look the same again. -
So, here we are - the start of a new world order.
-
Power has tangibly shifted - away from the United States and the
Western world generally, and towards the fast-growing giants of the
East. That's been happening for some years now. -
But September 2008 marks the moment when the scale of our
excesses, the extent of our debts and the moral bankruptcy of our
financial regulatory system finally began to be truly exposed. -
Hard times: central banks have acted to avoid a
repeat of 1929 -
I say began to be exposed. Back in March, Standard and
Poor's, the US ratings agency, estimated some $285bn (£156bn)
of mortgage-backed securities would eventually be written-off by the
global banking sector. On Friday, almost unnoticed amid the panic,
that forecast was upped to $378bn. -
But the extent of the 33 per cent one-off
increase in S&P's estimate speaks volumes. It reflects just
how little anyone truly knows about either the ultimate size of the
sub-prime losses or who ultimately holds the related securities. -
In reality, total credit losses will be much higher - at least
$750bn in my view. -
But with one in ten US mortgages now "delinquent" or
"in foreclosure", and house prices still falling, such
"toxic waste" is burning holes in balance sheets wherever
it sits. That's why this crisis is far from over. -
It's difficult to overstate the enormity of what happened
last week. -
By any standard, the collapse of Lehman Brothers was a
dramatic - and alarming event. -
One of the biggest names on Wall
Street, the 158-year old bank was consumed by the scale of its
losses and crippled by executive feuds. Deemed by the US Federal
Reserve to be "sufficiently unconnected" to the rest of
the global financial system, Lehman was allowed to fold. -
In contrast, American International Group, the world's
largest insurer, was judged "too interconnected" to
collapse. -
So the Fed effectively "nationalised" AIG - the
biggest rescue of a private firm in human history. -
And it's
only a few weeks, of course, since the even more expensive bail-out
of quasi-government lenders Fannie Mae and Freddie Mac - which,
between them, account for a mind-boggling $5,300bn of mortgages,
around half of America's home loans. -
On top of all that, US Treasury Secretary Hank Paulson sent an
$800bn financial rescue plan to Congress. He wants to create a
second "Resolution Trust Corporation" - or
government-owned asset management company - -
to take on illiquid
mortgage-related debts. The original RTC was established to rescue
the US Savings and Loans Associations that went bust in the 1980s. -
And by the way, the Fed has also just offered another $125bn of
liquidity to banks outside the US that are desperate for dollars and
can't access America's frozen credit markets - a move
co-ordinated with central banks in Japan, the Eurozone, Switzerland,
Canada and here in the UK. -
The combination of these measures - each of them of enormous
significance in its own right - sent stock markets shooting-up on
Friday. -
America's S&P 500 rose 4.03 per cent and
London's FTSE 100 soared 8.84 per cent, its largest one-day
rise ever. -
But, despite the end-of-week euphoria and trader-talk
that "the only way is up", despite America's
undoubted resolve and Paulson's determination to do
"whatever it takes", the situation remains very fragile. -
Nothing better reflects the amount of fear among banks in America
- banks everywhere - than the sky-high rates they're continuing
to charge when lending to each other. -
Ordinarily, inter-bank (or
Libor) interest rates are only slightly above base rates. But with
so much uncertainty remaining about the scale and occurrence of
"sub-prime" - and with desperate bank executives still so
reluctant to "fess-up" their losses - the US Libor rate on
money to be paid back in three months is now a staggering 1.5 per
cent above base. In recent weeks, Libor rates have shot up in other
countries too. -
Paulson's latest liquidity injection has lowered over-night
Libor rates for now. But, despite the torrent of cash the US has
directed at the credit markets, longer-term inter-bank rates have
stayed stubbornly high, and some have gone up further. -
In other
words, even the banks themselves don't think the rescue plan
will work. -
Expect more - and bigger - liquidity operations in weeks
to come. -
The trouble is, though, as the bill for these bail-outs keeps
rising, so does the possibility that the political consensus will
crack and there'll be an almighty, and debilitating, dust-up. -
Paulson's RTC plan, in theory, could restore confidence. By
taking sub-prime loans off banks' books, it could de-ice the
inter-bank market, restoring credit lines to households and firms
and preventing the "credit crunch" from shifting
wholesale, in that fabled phrase, "from Wall Street to Main Street".
-
-
-
Half a Trillion Bailout For The Creators of the Market Crisis - The International Forecaster
theinternationalforecaster.com/..._Creators_of_the_Market_Crisis - Preview
bob-chapman international-forecaster illuminati banksters government dollar bailouts paulson federal-reserve bernanke politicians ceo socialism corporatism fascism nwo usa on 2008-09-22
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Add Sticky NoteAren't you starting to get a little tired of all the lies?
-
(3) the combined bailout of Fannie's and Freddie's share of the toxic waste contained in the approximately half of all US mortgages which these cess pools have made or insured, plus the losses from the Resolution Trust Company II bailout of the toxic waste from the remaining half of US mortgages;
- 58 more annotations...
-
-
Add Sticky Note(4) the shortage in the FDIC's insurance reserves that will be generated by losses incurred on account of what will be anywhere from 1,000 bank failures, as suggested by billionaire Wilber Ross, to perhaps as many as half of all banks in the US, as recently suggested by Ken Lewis, CEO of Bank of America;
-
(5) the PBGC's funding shortage to cover losses suffered by pension plan beneficiaries on account of pension under-funding caused by what will be the loss of as much as half of the value of all US equity shares;
-
(6) the bailouts likely to occur when the credit default swaps and interest rate swaps, along with the entire bond market, go under in what will be the greatest bear market of all time in both bonds and derivatives, which are guaranteed to occur based on the hyperinflation that will be caused by all the other bailouts just listed, as well as by our continually burgeoning budget and trade deficits, the resulting double digit interest rates which will become necessary in order to combat inflation and to properly reward risks, which are about to escalate in astronomical fashion, and to attract foreign investment, which will soon drop to nil based on negative rates of return;
-
(7) the loss in purchasing power due to hyperinflation generated by 1 through 6 above;
-
and (8) the new wars for profit that will be started in order to restart our vaporized economy in the wake of the death and destruction caused by 1 through 7, above,
-
Add Sticky Noteand you can also add in the costs associated with potential social unrest and revolution that are almost certain to occur.
-
When number 6 above comes to fruition, the entire world economy will implode and go into deep depression. None will escape the coming juggernaut of losses when the glowing, quadrillion dollar Derivative Death-Star goes supernova.
-
The entire world economy will get sucked into the resulting financial black hole.
-
The Resolution Trust Company II will be rammed down the throats of Congress, just like (1) the Federal Reserve Act that has been used to inflate the middle class out of its wealth by imposing a stealth tax which is used to fund profligate government spending and enrich private banker's with their debt-based fractional reserve system of banking;
-
(2) the passage of the US Income Tax, which is used to enslave and impoverish US citizens and to ensure payment of the US Treasury's debt to the Federal Reserve on its treasury paper;
-
(3) the repeal of the Glass-Steagall Act by the Gramm, Leach, Bliley Act, which is what paved the way for the speculation, fraud and conflicts of interest that always arise when commercial banks and investment banks are allowed to be merged under one entity, as we just saw happen with Bank of America when it bought out Merrill Lynch, and this poisonous piece of legislation is what allowed the Illuminist bankers to pawn off the toxic waste which their investment banking division created for its investment banking clients, after getting fraudulent AAA ratings from the ratings agencies, on their hapless, sucker-dupe commercial banking clients;
-
(4) the passage of the toxic Commodity Futures Modernization Act, which freed the then fledgling OTC derivatives market, including credit default swaps and interest rate swaps, from the regulatory power of both the SEC or the CFTC, leading to an out-of-control, unregulated, under-collateralized, quadrillion dollar volcano of smoldering, molten risk that no one understands in terms of its scope, its interrelationships and its counterparty risks, and now these financial weapons of mass destruction threaten the worldwide financial system;
-
(5) the passage of the Iran War resolution based on Bush Administration lies regarding Saddam Hussein's supposed weapons of mass destruction and involvement in 911, which has led us into yet another bloody war for profit under the guise of security, democracy and freedom, and which has resulted in the killing of millions of Iraqi civilians and thousands of our soldiers (move over Hitler, Mao and Stalin, the Illuminati and their neocon henchmen are just getting warmed up as they take their shenanigans to the Balkans);
-
(6) the approval of both Patriot Acts to help us fight the evil Osama Bin Laden and the phony "War on Terror" while dismantling our Constitutional rights;
-
(7) the approval of the Military Commissions Act which makes all dissenters into "enemy combatants" and takes away their right to habeas corpus;
-
Add Sticky Note(8) the passage of the John W. Warner Defense Authorization Act of 2006, which repeals Posse Comitatus, meaning that our military forces can now be used against our own citizens for the first time in our history, and contrary to our Constitution;
-
and (9) the Fannie and Freddie bailout, which was just authorized so the fraudsters can dump their slime on taxpayers in a futile attempt to save their precious system of Ponzi-schemes and insider trading which is becoming unraveled right before their eyes.
-
Add Sticky NoteThis is why all incumbents, except for Ron Paul, must be voted out in November.
-
The House Finance Committee, headed by Rep. Barney Frank, and the Senate Finance Committee, headed by Sen. Christopher Dodd, will give it their usual Boo-Boo, response: "I don't know, Yogi," in order to give the clueless sheople the appearance that they are going to protect taxpayers from the slimy bankers, when the reality is, it is already a done deal and has been planned long in advance, probably for many months, if not years, just like the Patriot Acts.
-
What you are seeing happen right before your eyes is the revenge of the Illuminati for the passage of the Glass-Steagall Act.
-
Not only have they repealed that act, but now they have reverted our system back to the way it was when the Stock Market Crash of 1929 occurred.
-
This is why Bank of America jumped all over Merrill Lynch, and why you are hearing continual overtures for Goldman Sachs and Morgan Stanley to do the same, with claims that their business models are flawed.
-
The fane-stream media now tells us that we need such combinations to give our financial institutions greater strength and staying power in the face of a crisis, when it is such combinations that are responsible for creating the crisis in the first place.
-
This is the classic Hegelian Dialectic on steroids: first create the crisis, and then propose the predetermined solutions, stuffing them down everyone's throats, if necessary.
-
If you want to see institutions that will automatically be deemed to be too big to fail the next time they defraud the public, just check out the gargantuan financial behemoths that will emerge out of the current crisis!
-
First, all the legislation was put into place.
-
Note how this was all set up.
-
Then the system is brought into a crisis situation, which was easily accomplished through deregulation, in order to propel us into a situation where the Illuminists are allowed to consolidate their power with the full blessing of the dopey sheople.
-
Note how Bear Stearns was assassinated just before the Fed opened up its Primary Dealer Credit Facility and its Term Securities Lending Facility, which could have saved BS.
-
They arranged to have BS's clients abandon them and withdrew BS liquidity and credit, and down they went, payback for not helping in the LTCM bailout and for not joining the Illuminist club.
-
Then they string out all the other big commercial and investment banks, to see which ones would turn out to be the keepers, because the carnage was so bad and so widely spread that no one could tell which of the big commercial and investment banks might survive, if any.
-
They needed time to figure out who the survivors would be. Hence, all the desperate bailouts dripping with moral hazard were made to keep them all afloat while they were attempting to make this determination.
-
They decide to let Lehman fail because their condition is irredeemable and it looks like criminal charges may come up at some point due to shenanigans that management committed against their employee's pension money, making them a hot potato.
-
They pair up Bank of America with Merrill Lynch, and we see JP Morgan Chase and possibly Wachovia pairing up with Goldman Sachs and Morgan Stanley, respectively.
-
Wachovia and Morgan Stanley are already in talks for a merger.
-
AIG is being preserved to see if they can be fit into the consolidation scheme once all their problems have been sorted out.
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To support the survivors, they then announce the Resolution Trust Company II bailout, kill all shorting of over 800 financial companies, and then spew out money and credit throughout the international banking system in amounts that are nothing short of spectacular.
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Add Sticky NoteThis is an outrageous, unbelievable, unprecedented consolidation of power, which flies in the face of free markets and paves the way for an ever-burgeoning corporatist, fascist police state.
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Hanky Panky wants to give the Fed sweeping regulatory power over this new group of behemoths who will control everything, while occasionally allowing crumbs to fall off their table for the little guys to gobble up.
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And there will be far fewer of the little guys to worry about after the carnage in the banking sector has finally ceased.
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This is not a sure thing for them. The fraudsters remaining, even the big guys, could still fail, that is how bad this situation has become.
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Add Sticky NoteThe Illuminati are quaking with terror that they have overdone things and that they could end up destroying the whole system irreparably. That is why we are having all these bailouts stuffed down our throats.
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Gold and silver went on a moon shot this week, with gold setting a new all-time record for a one-day increase in value. That is what happens when you keep pressing on the lid of a pressure cooker, trying to keep boiling, molten precious metals from escaping.
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Aiding gold and silver was the unraveling of longs in the USDX futures market, who were forced to cover because they had pushed the dollar up as far as it could go.
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Suddenly, the 93,701 contracts of open interest on Tuesday were reduced to 52,872, being cut virtually in half. That means the dollar rally is over and the ever more desperate bailouts are going to undermine confidence in the dollar.
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Soon, all these trillions in bailouts may lead to a downgrade of our treasuries, as our debt load will soon reach unsustainable levels, no matter how much the PPT tries to manipulate the markets. The stupidest dolt should be able to figure out that much.
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The stock markets are shooting up and down with unprecedented volatility, bobbing and weaving like a drunken sailor as the PPT tries to fight the gravity created by the financial black hole created by the collapse of the Bailout Death-Star and the total lack of confidence of market players who are finally starting to realize that CEO's, Treasury Secretaries and Fed Chairmen are little more than pathological liars, and that the markets are rigged in ways that make China and Russia green with envy.
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Add Sticky NoteLook at the condition of the Russian and Chinese stock markets, which are being vaporized, compared to ours, which has been placed in a state of suspended animation by the PPT anti-gravity machine.
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Hey Russia, and China, take some notes. We'll show you what it means to be a died-in-the-wool Marxist/Communist state!
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Add Sticky NoteRemember, the satanic trillionaires that run our command economy from behind the scenes are the ones who set you up and financed you. They are the true masters of Communism and Marxism! You guys are amateurs!!!
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And we lead by example, so pay attention.
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Do you really think the markets are rallying because everyone is impressed with the new string of bailouts? All the pros know where this is leading us, and they are de-leveraging.
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If you want to know why the markets are rallying, besides tens of billions of dollars being unleashed from the repo pool for insidious and in-your-face manipulations, check out the yen.
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At 9 am on the 16th, it was super yen, at 103.650 yen per dollar and 147.592 yen per euro. Now suddenly, despite the dollar crash, the yen has wimped out, and as of 2:25 pm on Friday, it stood at 107.065 against the dollar, and at 154.653 against the euro. Rally mystery solved. Let's get ready to rumble!!!
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The members of Pink Floyd become prophets for America. Thanks to all the Illuminist lies the sheople have been injected with, the Goldilocks Matrix remains in tact. Yes indeed, you have all become "comfortably numb.
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"O.K.
Just a little pinprick.There'll be no more aaaaaaaaah! But you may feel a little sick.
Can you stand up? I do believe it's working, good. That'll keep you going through the showCome on it's time to go.
There is no pain you are receding
A distant ship, smoke on the horizon.
You are only coming through in waves.
Your lips move but I can't hear what you're saying.
When I was a child
I caught a fleeting glimpse
Out of the corner of my eye.
I turned to look but it was gone
I cannot put my finger on it now
The child is grown,
The dream is gone.
I have become comfortably numb."
Group: Pink Floyd; Album: The Wall; Song: Comfortably Numb
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Add Sticky NoteWe hope and pray that the dream is not yet gone, and that Americans get a fleeting glimpse of our former glory and greatness, and that they wake up and stop allowing these scum-bags to have their way with them.
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RIP Richard Wright
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Paulson Bailout Plan a Historic Swindle
www.thenation.com/...greider - Preview
tax-payers usa treasury-secretary paulson jew crook swindler americans congress banksters white-house wall-street citizens scam on 2008-09-22 and saved by 8 people
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Paulson Bailout Plan a Historic Swindle
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- 33 more annotations...
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Financial-market wise guys, who had been seized with fear, are suddenly
drunk with hope. They are rallying explosively because they think they
have successfully stampeded Washington into accepting the Wall Street
Journal solution to the crisis: dump it all on the taxpayers. -
That
is the meaning of the massive bailout Treasury Secretary Henry Paulson
has shopped around Congress. -
It would relieve the major banks and
investment firms of their mountainous rotten assets and make the public
swallow their losses--many hundreds of billions, maybe much more. What's
not to like if you are a financial titan threatened with extinction? -
If Wall Street gets away with this, it will represent an historic
swindle of the American public--all sugar for the villains, lasting pain
and damage for the victims. -
My advice to Washington politicians: Stop,
take a deep breath and examine what you are being told to do by
so-called "responsible opinion." -
Add Sticky NoteIf this deal succeeds, I predict it
will become a transforming event in American politics--exposing the deep
deformities in our democracy and launching a tidal wave of righteous
anger and popular rebellion. -
Add Sticky NoteAs I have been saying for several months,
this crisis has the potential to bring down one or both political
parties, take your choice. -
Christopher Whalen of Institutional Risk Analytics, a brave conservative
critic, put it plainly: "The joyous reception from Congressional
Democrats to Paulson's latest massive bailout proposal smells an awful
lot like yet another corporatist lovefest between Washington's one-party
government and the Sell Side investment banks." -
A kindred critic, Josh Rosner of Graham Fisher in New York, defined the
sponsors of this stampede to action: "Let us be clear, it is not citizen
groups, private investors, equity investors or institutional investors
broadly who are calling for this government purchase fund. It is almost
exclusively being lobbied for by precisely those institutions that
believed they were 'smarter than the rest of us,' institutions who need
to get those assets off their balance sheet at an inflated value lest
they be at risk of large losses or worse." -
Let me be clear. The scandal is not that government is acting. The
scandal is that government is not acting forcefully enough--using its
ultimate emergency powers to take full control of the financial system
and impose order on banks, firms and markets. -
Stop the music, so to
speak, instead of allowing individual financiers and traders to take
opportunistic moves to save themselves at the expense of the system. -
The
step-by-step rescues that the Federal Reserve and Treasury have executed
to date have failed utterly to reverse the flight of investors and banks
worldwide from lending or buying in doubtful times. -
There is no obvious
reason to assume this bailout proposal will change their minds, though
it will certainly feel good to the financial houses that get to dump
their bad paper on the government. -
A serious intervention in which Washington takes charge would, first,
require a new central authority to supervise the financial institutions
and compel them to support the government's actions to stabilize the
system. -
Government can apply killer leverage to the financial
players: accept our objectives and follow our instructions or you are
left on your own--cut off from government lending spigots and ineligible
for any direct assistance. -
If they decline to cooperate, the money guys
are stuck with their own mess. -
If they resist the government's orders to
keep lending to the real economy of producers and consumers, banks and
brokers will be effectively isolated, therefore doomed. -
Only with these conditions, and some others, should the federal
government be willing to take ownership--temporarily--of the rotten
financial assets that are dragging down funds, banks and brokerages. -
Paulson and the Federal Reserve are trying to replay the bailout
approach used in the 1980s for the savings and loan crisis, but this
situation is utterly different. -
The failed S&Ls held real
assets--property, houses, shopping centers--that could be readily resold
by the Resolution Trust Corporation at bargain prices. -
This crisis
involves ethereal financial instruments of unknowable value--not just
the notorious mortgage securities but various derivative contracts and
other esoteric deals that may be virtually worthless. -
Despite what the pols in Washington think, the RTC bailout was also a
Wall Street scandal. Many of the financial firms that had financed the
S&L industry's reckless lending got to buy back the same properties
for pennies from the RTC--profiting on the upside, then again on the
downside. -
Guess who picked up the tab? I suspect Wall Street is
envisioning a similar bonanza--the chance to harvest new profit from
their own fraud and criminal irresponsibility. -
Call off their lobbyists,
bar them from the bribery disguised as campaign contributions. Any
contact or conversations between the assisted bankers and financial
houses with government agencies or elected politicians must be promptly
reported to the public, just as regulated industries are required to do
when they call on government regulars. -
More important, if the taxpayers are compelled to refinance the villains
in this drama, then Americans at large are entitled to equivalent
treatment in their crisis. -
That means the suspension of home
foreclosures and personal bankruptcies for debt-soaked families during
the duration of this crisis. -
The debtors will not escape injury and
loss--their situation is too dire--but they deserve equal protection
from government, the chance to work out things gradually over some years
on reasonable terms. -
We don't know how much damage has been
done to economic growth or how long the cold spell will last, but I
don't trust the bankers in the meantime to provide investment capital
and credit. If necessary, Washington has to fill that role, too. -
Robert A. Johnson, a veteran of global finance now working with
the Campaign for America's
Future, suggests that our global trading partners may recognize the
need for self-interested cooperation and can negotiate temporary--maybe
permanent--reforms to balance the trading system and keep it
functioning, while leading nations work to put the global financial
system back in business. -
Finally, the crisis is global, obviously, and requires concerted global
action. -
The agenda is staggering. The United States is ill equipped to deal with
it smartly, not to mention wisely. -
Add Sticky NoteWe have a brain-dead lame duck in the
White House. -
The two presidential candidates are trapped by events,
trying to say something relevant without getting blamed for the
disaster. The people should make themselves heard in Washington, even if
only to share their outrage.
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Who Will Speak For Us?
www.rense.com/...whowill.htm - Preview
jim-kirwan henry-paulson treasury-department us-government congress crooks aipac criminals politicians bernanke george-bush tax-payers debt tyrants jews foreign-agents neocons nwo on 2008-09-22
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Who Will Speak For Us?
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Jim Kirwan
9-21-8 - 37 more annotations...
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The short answer is "no one" because we have
chosen to abstain from speaking for ourselves. -
As a result; the government
no longer fears the people; so the people having chosen not to have a
voice, are increasingly used and abused to further the takeover that has
now become impossible to escape. -
The government is saying among themselves, that this
meltdown will encompass credit cards, student loans, all the pension funds,
social security and virtually everything else including our non- existent
jobs programs-not to mention the fact that we're looking at real job loses
this year of over a million people. -
This is part of their defense for
saddling the public with more than $11 TRILLION in debt, without any relief
for the public that is expected to pay for this obscene crime. -
When Ronald Reagan initiated the idea of "Morning
in America" people had forgotten that he came to office from a failed
governorship in California and from his stint on "Death Valley Days"
both of which had more to do with his policies than anything like his
vision of America as that "Shining City on the Hill." -
What Reagan
instituted was "Greed is Good" and 'Americans ought to have
whatever they want, no money down, and to hell with tomorrow,' (the core
of that un-checked capitalism that created the housing-bubble). -
One of the unspoken principle planks in the platform
of Capitalism Inc. is that 'Yes there is a free-lunch, and that every
citizen is entitled to it"! -
The second plank in un-regulated Capitalism
is that congress and the laws are meaningless. -
Add Sticky NoteAnd as the decades have
passed what we see now where the congress used to be, is just a privileged
compound apart from the public's real concerns, where a bunch of toothless
mongrels prowl in luxury among themselves and bark incessantly at the
shadows in the world, well beneath their lavish perks. -
Now we come to a crisis the like of which the world has
never seen before: Because this global event has dwarfed all other previous
financial and political events, since those dark days when public records
first began to be kept. -
Add Sticky NoteThe stand-in theorhetorically responsible for
the Treasury who appeared this morning to be in the middle of a series
of heart-attacks, keeps trying to tell the public that "We MUST do
this quickly," despite the fact that he has no real numbers as to
cost or duration! -
He has also assured the nation that there should be
nothing in this for the taxpayers, those individuals who are expected
to pay for these failures. -
From Paulson we also learned that both parties plan to
remain bi- partisan (no opposition from within the government), regarding
this draconian step. -
Paulson freely admits that there are many components
to this massive failure brought on by several privately-held corporate
and offshore interests that have FAILED, yet he sees his measure as the
only way out of this global mess. -
People might have forgotten that the entire premise for
private- enterprise rests upon the risks that the so-called privatized-
interests take, which include the right to fail, in order to remain free
to profit hugely! -
Add Sticky NoteThe right to FAIL is part of their sacred circle of rights
that no one else can have-that is until they fail-bigtime-because then
as now those same private companies then demand a bailout by none other
than the public they so vastly screwed in the first place! -
To cap this
all off, now the government is telling the public that we have no choice
but to capitulate to these obscene demands-this is governance at the point
of a gun, -
- and this demands that we change the government according to
the ideas laid out in the Declaration of Independence, which says in part:
- "We hold these truths to be self-evident, that all
men are created equal; that they are endowed by their Creator with certain
inalienable rights; that among these are life, liberty and the pursuit
of happiness. That to secure these rights governments are instituted among
men, deriving their just powers from the consent of the governed; that,
whenever any form of government becomes destructive of these ends, it
is the right of the people to alter or abolish it. . ." - and this demands that we change the government according to
-
Add Sticky NoteThis so-called government in Washington no longer represents
the people of this land, -
Add Sticky Notethey only represent the corporations and the
global interests of the ancient New World Order that seek to enslave
Americans along with everyone else. -
In this case the idea is to create
a fire-sale out of a once thriving economy in order to buy up what's left
of this country at bargain prices, before they declare themselves the
sole owners of the world. -
The second amendment was placed in the Constitution
in order for the public to have the means to form militias that could
take back the nation, if that ever became necessary. -
Apparently the time
has come for the public to begin to give more than idle thought to this
crisis that threatens to literally remake the entire structure of this
nation and the world. -
Add Sticky NoteIf the congress cannot put monetary and legal limits
on this legislation, and if the congress and the White House are allowed
to pass something that does not insure the survival of the general public
which they shall have so freely and unconditionally taxed beyond all bounds
of sanity: then we must have a revolution in the streets! -
The government needs to come again, to fear the public,
because they have proven beyond all doubt that they are unfit to lead
anyone anywhere, ever again! -
Their list of on-the-record failures is
staggering, and to any sentient being it is "unbelievable" even
before they have a
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