Unspeakable grief and horror
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Know them by their fruit:
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Unspeakable grief and horror
Know them by their fruit: |
From UrbanSurvival.com
Saturday November 1, 2008
Yeah, about the only thing that seems to be holding the stock market above the abyss of a larger degree than the horrific events of a 1930's style Crash continuing would seem to be the political events of next Tuesday.
You see, there's quite an incentive for the PowersThatBe to try and heap more cognitive dissonance on you — a member of the already confused public.
I think it will go something like this: If Obama wins, the market will decline and some pundit or other will pronounce that the renewal of the market decline will show America has 'no faith' in the Obamanation.
What you'll be expected to overlook that if Obama wins, the American public will have just shown its confidence in O's ability in voting. Think of it as scapegoat plan #1.
On the other hand, should McCain win, a different kind of scapegoat will be trotted out — the likely scapegoat will be abuses in lending to unqualified folks, contributing to the Housing Bubble Collapse.
Further, it will be held that the same folks that caused the problem can turn around and fix it. Riiiight...
In this latter case, what will NOT be reported is that:
a) The entire cost of the sub-prime losses so far is less than $85-billion according to my well-placed friends in the fixed income markets
b) What those 'pundits' (to be generous) of the tax & oil party who are trying to dredge up the Clinton era Community Reinvestment Act (CRA) as an excuse, don't tell you is that virtually none of the CRA loans were securitized because they were (and are) zealously held onto by originating lenders because the whole purpose of the CRA was to prevent red-lining so banks with a presence in high minority areas hang onto those loans because they're evidence that a bank is not red-lining.
As long as the coffee holds out, I might as well mention one more 'great lie" by the tax, war & oil pundits — namely the CRA loans are performing better than sub-primes, LOL.
But, of course, you wouldn't suspect that, not having the names of people managing billions in your Outlook file....
OK, so it's a world of lies. What else is new?
But, as you can see on the following chart, Hank and Ben will have earned their keep by the TOP (Tax & Oil Party) brass because the market hasn't collapsed, at least yet.
I sure wouldn't put much stock in stocks, so to speak, once we get past next, oh, Wednesday, or so...
www.PeopleNomics.com/
On both sides, there's a fair amount of worry/scare-peddling that if the McPalin ticket wins, rather than JoeBama, that America will somehow slide into a period of social upheaval.
Not only have I received right-wing emails telling me 'If Obama wins, there'll be trouble" but also notes from left-wing supporters.
There's also (not unexpectedly around here) 'violence ahead' media coverage that's using the 'R' word.
What's curious, perhaps because I occasionally get a little more insight into the HalfPastHuman Reports www.halfpasthuman.com which start up with the 0909 ALTA sequence this weekend, is that what I'm seeing is the PowersThatBe are 'preloading' the public preconscious in order that when the real violence shows up in mid 2009, there will be someone to blame.
What the PTB are scared to death of, is that the MainStreamMedia (MSM) won't be able to keep a lid on the real cause of the pending 'Summer from Hell' next year, which will much more likely result from continuing/increasing foreclosures and tax increases in order to fund the bailout of the Bankster Class by the increasingly unemployed.
It will be headlines like New York "AG Cuomo seeks info on bank bonuses" amidst reports that Bonus Backlash Brewing shows up along with headlines that the Banking panel chairman says using bailout funds for bonuses against law.
Like The Bond Dude is fond of saying "Money doesn't know where it comes from". And it's my experience that a good accountant can make it come from almost anywhere you want...
So is there trouble ahead in America's future? Yeah — big time.
Will it likely be over the Presidential outcome? Sure! Courts need cases, right?
But notice that both sides are scare-mongering and then look behind the scenes aways to see the Hegelian Dialectic at work.
Ask yourself "Who would be trying to orchestrate such divisiveness to cover their tracks?"
FTM — follow the money, or at another level, follow the power/control.
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Oh! That reminds me to pass on the coolest new site I've found in a hell of a long time — you have to click over to www.theyrule.net because you can do your own "power maps" of who has what interlocking directorships to what.
"A Brief Explanation They Rule allows you to create maps of the interlocking directories of the top companies in the US in 2004.
The data was collected from their websites and SEC filings in early 2004, so it may not be completely accurate — companies merge and disappear and directors shift boards."
Wow! Just for fun, you can take some key 'establishment' organization (like the Council on Foreign Relations, Yale University, etc...) and display its board of directors, and then map how that BOD has 'interlocking directors' with many of America's biggest corporations.
Find how interlocking directorships let companies 'communicate' at an organic level between boards of directors.
No, this is NOT conspiracy theory stuff. Scarier than that: This is data mining is a serious way.
A sort of 'everyman's version of the social network analytics' that anti-terrorist outfits use to map personal contacts of anyone they feel like... to protect us, of course.
It's the kind of social mapping that could be generated by talking to someone on the phone... give's you a feel for how interactive social maps work, except you don't have access to the kind of drill downs (into phone company records, emails you've sent to who, and so forth) that the alphabet agencies have.
Nevertheless, it's pretty cool on this limited basis to seek how the PTB are 'hooked up' socially.
Seems to all be drawn from publicly available data. And it may have some practical applications.
Say you are graduating from educational institution Y and you want to go to work for big pharmaceutical company J, or Bank C, who would be the 'right' person to be working your application who sits on both boards of directors?
Or, is there a person who is an intermediate step?
These are the folks you want talking about you over tennis down at 'the club'.
Got it?
This is the map to the 'one phone call and things happen' people.
Takes a few minutes to get used to the interface, but once you do? Secrets revealed — the personal contact topology of what one could argue is at least the more or less public layer of the PTB.
Massively fun. www.theyrule.net
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Politics, Data Mapping, and What Comes Next
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There are signs that the beginning of the demand collapse has started on a global basis and at a speed that is beyond any Government or Central Bank to react to.
That means a deflationary recession or depression is looming in our near future, caused by those currently feted as the saviours of the capitalist system.
In 6 months time I doubt the public will think of the current crop of politicians and central bankers as saviours.
Finally in this part of What's That Coming Over The Hill is a chart from Bloomberg by Espen Furnes of Storebrand Asset Management that neatly sums up and displays why the credit crisis will morph into something much worse.
MarketOracle.co.uk
Notice the lag in capital raised compared to losses sustained and remembering back to the summer of '07 how small the losses were compared to the damage wrought.
I haven't seen a better chart that shows why there is a need to suck wealth from the global economy to 'save' the system and why the expansion of the bail out is not inflationary.
Mick Phoenix
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Click here for marketoracle.co.uk
Deflation Monster Coming as Credit Losses Far Exceed Capital Injections
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The US Dollar rally in the last several weeks has been remarkable.
At closer examination, it highly resembles a spurt prior to death.
Are Americans last to realize the financial structure destruction means the US Economy does not enter a recession, but rather a bizarre unprecedented disintegration?
It seems so.
The liquidation of speculative positions, the massive de-leveraging, the payout's of defaulted bonds, these events are the opposite of developments toward revival or resuscitation, like business investment!!
Liquidation is the exact opposite of investment, and precedes job cuts, not job creation.
... Imagine a large business saying the following.
“We are bankrupt. We want a meeting. We are going to dictate to you bankers anyway. We are broke. Our economies are shattered. Our banking systems are in ruins. But we going to tell you how we are to restructure our debt and rework a new system. We realize our debts to you are bigger than we can ever repay. We realize we cannot continue in commerce without your continued extended credit. But we will force upon you a new system. It does not matter what your opinion is. You do not have a seat on this elite committee, sorry!”
No! Bankruptcy receivership is next, where creditors will be left with few options.
They will be compelled to run management committees, and dissolve many functions of government.
Creditors will probably await the G8 initiative, then summarily reject it.
They will next propose their own new global financial structure.
...Entire new barter systems between a key pair of nations is about to be launched.
Regional bond and commodity organizations are being formed, with exclusion of the US.
The US press reports nothing on these important developments.
Foreign creditors will form new committees, which will be recognized in time as the Receivership Committee.
Foreigners are watching in horror.
Decisions have already been made, with Americans the last to know.
In order to arrest the cancer they so clearly see, they are ready to force a complete upheaval.
The US Dollar will lose its global currency status, a thoroughly abused privilege.
The above lack of disclosure only reinforces their motive to take action.
They will move when they must, upon a system failure, or when they are challenged, or when flimsy attempts by debtors are made to dictate reform.
...Foreigners must cut off flow from a toxic systemic organ, the one attached to the United States.
CUT IT OFF OR RISK DEATH.
They must disconnect of US Dollar from the global currency system attached intimately to their own financial and economic systems.
They must to survive.
MarketOracle.co.uk
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Click here for marketoracle.co.uk
The U.S. Dollar Death Dance
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ARAB GOALS & MOTIVES
Arabs clearly lust to control and manage a global gold trading center.
It will be in Dubai in the United Arab Emirates.
The new Gulf dinar currency will pave the road to that center.
The Gulf Coop Council is biding time, cutting time delay deals, warding off pressure by the USGovt, appeasing with weapons contracts from the USMilitary, and is working behind the scenes to create a new dinar currency.
The new Gulf dinar is likely to be primarily gold in its backing.
So, foreign nations will soon be forced to purchase the dinar for all or most of crude oil payments.
This forces the purchase of gold in order to purchase crude oil.
The demand for gold will thus fortify the global banking system, by means of commodity settlements.
Many details are unknown, but the basic structure has been slowly come to light.
A new motive flashes red in front of Arabs to institute some changes FAST.
The crude oil price is down, cut in half from July.
Their revenues are sharply reduced.
Russia figures into the complex deal to launch the dinar.
The Saudis and small sheikdoms need security protection.
The next chapter will involve protection amidst a gold-backed currency, not a military-backed currency, in Saudi eyes.
ISOLATED US TREASURYS
The other side to the Arab dilemma is that the USTreasury Bond demand is quickly eroding from Petrodollar recycle on trade surplus.
The USGovt finds itself as relying far too much on foreign central banks for demand of USTBonds, relying far too much soon on the printing press.
The USTBond demand is missing the oil surplus in recycle.
Their reduced and unstable oil revenue motivates the Arabs to install a new payment system, based upon an end to the ugly defacto Petrodollar standard.
It shamefully is the basis of what my analysis has called a Protection Racket.
The incredible fact evident in the data is that until mid-September, the US Federal Reserve has drained liquidity from the US private banking system in order to offset its colossal bond swap bailouts for major Wall Street and New York money center banks.
Their objective was to avoid undue US$ money supply growth.
THEY WERE TARGETING GOLD.
They essentially drained the lifeblood from the US Economy on Main Street in order to subsidize fraud sanctioned and approved on Wall Street.
Only since mid-September has the US Fed been monetizing USTBond debt issuance.
They are running scared, printing with abandon.
The gold price is falling as the US Dollar printing press is rapidly heating up, no longer offset by bank system drains.
MarketOracle.co.uk
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Click here for marketoracle.co.uk
The U.S. Dollar Death Dance
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Wall Street's Trojan Horse
Dr. Duvvuri Subbarao's inactions as head of the RBI at the height of the crisis, largely contributed to exacerbating capital flight.
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by Michel Chossudovsky
Global Research, October 27, 2008
Russia's foreign minister Sergei Lavrov has announced that Brazil, Russia, India and China will "coordinate efforts in overcoming the financial crisis".
The statement suggests that the four countries will confront the dominant US-UK-EU alliance, which personifies Western banking interests, at the forthcoming Summit in Washington.
“We are going to coordinate our moves with the leading emerging economies.
We are in direct contact with India, China and Brazil; we are interacting in the BRIC and RIC [Russia-India-China] formats”
Prime Minister Vladimir Putin said earlier this month the crisis had shown the BRIC nations would be “the locomotive of the world economy in coming years.” (The Hindu, October 26, 2008)
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The Finance Ministers and Central Bank Governors of G-20 countries will meet in Sao Paulo in November ahead of the Summit meetings in Washington.
The crucial question: Is there a policy alternative to that proposed by Wall Street and the US Treasury, which might emanate from the BRIC and/or G-20 Summit discussions.
Does the BRIC (Brazil, Russia, India and China) constitute a "Strategic Triangle" as suggested by Moscow's official press dispatch?
It is highly unlikely that an alternative might emerge from the BRIC meetings or the G-20.
While China and Russia retain some degree of economic and financial sovereignty, monetary policy in most developing countries including India and Brazil is under the direct surveillance of Washington and Wall Street.
The Prime Minister of India, Manmohan Singh is a former World Bank official.
As Finance Minister in the early 1990s, he carried out the macro-economic reforms imposed on India by the IMF, in close coordination with the Bretton Woods institutions.
Subbarao is insider
The current governor of the Reserve Bank of India Dr. Duvvuri Subbarao is also a World Bank official.
He was appointed at a very critical moment on September 5, 2008 at the very outset of the financial meltdown.
Duvvuri Subbarao spent ten years at the World Bank in Washington.(1994-2004).
Barely two weeks into his mandate as RBI Governor, the Indian stock market collapsed.
Dr. Duvvuri Subbarao's inactions as head of the RBI at the height of the crisis, largely contributed to exacerbating capital flight.
The Proposed BRIC meetings
"Russia will coordinate its steps for overcoming the financial crisis with India and China" said Russia's Foreign Minister Sergei Lavrov. The BRIC meetings will be held in Sao Paulo prior to the G-20 meetings:
"Lavrov reiterated that a meeting of G-20 finance ministers would be held in Sao Paulo, Brazil, in the first half of November, during which he also planned to meet with the Chinese finance minister.
Despite the fact that new centers of economic growth, financial power, and political influence have emerged, Lavrov pointed out, different countries must join efforts to seek ways of overcoming the crisis and preventing it from repeating itself in the future.
He also stated that a relevant conference would be held in Washington on November 15.
The conference will be extremely important, Lavrov maintained, as all the main players are expected to be there.
He stressed, however, that it was vital that they didn't merely gather together, but, more importantly, that they also cooperated with each other." (RBC News, October 26, 2008)
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What is relationship between these senior government officials
Who will be attending these meetings?
What is the relationship between these senior government officials (Central Bank Governors and Ministers of Finance) and the interests of Wall Street?
The president of Brazil's Central bank, Hector Meirelles will play a key role in the Sao Paulo BRIC and G-20 meetings as well as in the November 15th meetings in Washington.
Trojan Horse
Henrique de Campos Meirelles, appointed head of Brazil's Central Bank in 2003 by 'socialist' president Luis (Lula) Ignacio da Silva, happens to be among Wall Streets' most powerful financial figures.
Prior to becoming Governor of the Central Bank of Brazil, he was president of global banking and CEO of FleetBoston, the 7th largest bank in the US, which subsequently merged with Bank of America to form the World's largest financial institution.
Hector Meirelles is a Trojan Horse.
Appointing the former CEO of a Wall Street bank to head the nation's Central Bank is tantamount to 'putting the fox in charge of the chicken coop'.
During Henrique Meirelles' earlier mandate as CEO of BankBoston (which later merged to form FleetBoston), BankBoston was one among several Wall Street banks which speculated against the Brazilian Real in 1998-99, leading to the spectacular meltdown of the Sao Paulo stock exchange on 'Black Wednesday' 13 January 1999.
4.5 billion dollars windfall in Brazil
BankBoston is estimated to have made a 4.5 billion dollars windfall in Brazil in the course of the Real Plan, starting with an initial investment of $100 million. (Latin Finance, 6 August 1998).
In the ongoing financial meltdown, the loss of Brazil's forex reserves has been dramatic.
Hector Meirelles has, in this regard, served the interests of Wall Street.
In less than a month, some 22.9 billion dollars of Central Bank forex reserves have been lost in the form of capital flight. (Bloomberg, October 26, 2008)
As dictated by Washington Consensus no effective foreign exchange controls in Brazil
As dictated by the Washington Consensus and implemented by the Central Bank under the helm of Hector Meirelles, there are no effective foreign exchange controls in Brazil which might protect the Real from the speculative onslaught:
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Sales of reserves to buy reais in the spot market totaled $3.2 billion from Oct. 8 through Oct. 20, central bank President Henrique Meirelles said in testimony before congress late yesterday.
The other types of intervention, including loans and currency swaps, don't affect the level of reserves....
Brazilian policy makers were forced to draw on record reserves of more than $200 billion after risk-adverse investors pulled money out of emerging markets, causing the worst tumble in the Brazilian real since the 1999 devaluation.
The real has lost a third of its value against the dollar since reaching a nine-year high Aug. 1, causing some of the biggest companies to report more than 5 billion reais ($2.2 billion) of losses from bad currency bets.
The benchmark stock index is down 32 percent in the period.
In a decree published today, President Luiz Inacio Lula da Silva authorized the central bank to engage in currency swap transactions with foreign central banks.
Officials at the central bank in Brasilia weren't immediately available to comment, according to the press office. (Bloomberg, October 26, 2008)
Brazil bailout of foreign banks — American and European
Moreover, the Brazilian government has emulated the US Treasury in setting up a bailout for Brazilian banking institutions, most of which are in fact controlled by foreign banks (American and European).
Brazil's Finance Minister Guido Mantega will be chairing the Group of 20 (G-20) meeting.
The G-20 countries/union are made up of the G-8 (US, UK, France, Germany, Japan, Canada, Italy, Russia) and the G-11 (Argentina, Australia, Brazil, China, India, Indonesia, Mexico, Saudi Arabia, South Africa, South Korea, Turkey) plus the European Union. (The G-8 is the G-7 plus Russia).
Most of the G-11 countries, are heavily indebted to Western creditors.
The neoliberal consensus prevails.
With perhaps the exception of Australia and Saudi Arabia, these countries obey the diktats of the Bretton Woods institutions and Wall Street.
There are many World Bank and Wall Street Trojan Horses, scattered around the World in central banks and ministries of finance.
All under control of Western cartel
The G-20 meetings and negotiations are part of a ritual.
The creditor's cartel, Wall Street and the Bretton Woods institutions are always in on the debate and discussions behind closed doors, with their G-20 colleagues and cronies.
It's 'the old boys network'.
It is highly unlikely that an 'alternative' distinct from the Washington-Wall Street consensus will emerge from the BRIC or G-20 meetings.
© Copyright 2005-2008 GlobalResearch.ca
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"$1 for $1" level crossed that Rubicon roughly around 1968 |
The reason $700 billion was not approved to capitalize 10 new banks, thereby creating seven trillion in lending capacity is that the economy cannot soak up that new lending capacity.
Each dollar of new debt generates almost no aggregate GDP.
If this were not true then that would be the logical and effective cure for the 'credit crunch' — if the borrowing capacity and impact on GDP necessary to help existed.
They do not.
You were lied to about the purpose of the TARP/EESA, because what you were sold was mathematically impossible.
The purpose of the EESA/TARP is to rescue the bankers on Wall Street and elsewhere who have made imprudent loans, all of whom are aware of the declining value of a dollar of debt in the economy — a fact they has intentionally been concealed.
The bankers all know how to do this math, and they are well-aware that the best they can do at this point is to 'Rob every dollar you can while the getting is good, and hope you don't figure it out before they get the cash.'
Once a dollar in debt will not support a dollar in GDP inevitably either a pay down or default has to take place.
We must pay down or default approximately 80% of the aggregate public and private debt in the United States in order to return to a standard were $1 in debt will generate $1 in GDP.
Defaulting or paying down less will 'turn the clock back' to a degree, but does not change the ultimate outcome.
Must revert to $1 of debt returning $1 or more of GDP
Only returning to $1 of debt returning $1 or more of GDP, and holding the total level of debt outstanding at or below that level, results in a stable monetary system.
The monetary and banking system is inherently unstable until and unless this is done, and as the 'zero point' is approached it becomes more and more unstable, producing more and more violent dislocations.
This is why every crisis since 1968 has been more serious and required larger and more intrusive interventions to calm, including the 1970s/80s energy shocks and inflation crisis, the 1987 market dislocation, the LTCM crisis, the Tech Implosion and now the Credit Bubble/Housing crash.
The absolute worst thing to do when 'in the hole' like this is to spend even more on a deficit basis, thereby driving the debt ratio higher and return-per-dollar-of-debt in GDP lower.
The last eight years have been disastrous in this regard.
The TARP/EESA and other 'stimulus' and 'rescue' packages, which now total more than $1.6 trillion dollars, have dramatically tightened the spiral depicted above.
The above graph does not include the impact of the Fannie and Freddie rescue nor of the EESA.
Both will move the return-per-dollar-of-debt meaningfully lower.
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$7 trillion in new lending capacity would cause immediate monetary system failure
If $7 trillion in new lending capacity was put into the market and utilized, this might well push the aggregate rate of return for $1 in debt below zero — that is, force it to a negative rate of return.
Ben Bernanke and Henry Paulson know this, which is why they didn't propose that solution, and why they did not force the bankers (under law) to lend out the recapitalization they provided.
If we reach the point where a dollar of debt has a NEGATIVE impact on GDP The United States monetary system and government will implode.
The reason for this is mathematically obvious — each additional dollar of borrowing beyond that point actually contracts GDP instead of growing it.
This is, for all intents and purposes, a 'black hole'.
It is that event that has led to the implosion of other monetary systems such as the hyperinflationary implosion of Argentina.
Debt must be defaulted
Debt that cannot be serviced must be defaulted.
House prices must fall to no more than 3.5x incomes on a median basis.
Corporate debt (e.g. LBOs, etc) that cannot be serviced under existing terms must be allowed to, and indeed encouraged to, default.
The contraction in outstanding debt that this will produce must occur, and the economic impact that results from it, while painful, is far less painful than a monetary system failure.
A monetary system failure is inevitable if we reach the point where one dollar of new debt no longer supports a positive contribution to GDP.
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Click here for: What Bernanke and Hank Aren't Telling You
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Genetically engineered virus?
I remember three years back and some when having been referred to a nurse, she asked me to roll up my sleeve for a flu injection.
I very clearly remember to this moment the screams she emitted when I stated that I did not accept injections for anything — that it was against my spiritual belief to place unknown substances into my body.
Howls she emitted, my words seemingly causing paroxysms of rage to be expelled.
“You want to get the flu?”
“I do not take matter into my body that might possibly harm me!”
“You want the flu, this winter?” she screams again. “You want to die?”
“If it is my time,” I stated, observing the strangeness of her reaction.
Picking up my coat, I quickly opened the door and removed myself.
I have not been back.
This video states that Flu Mist a popular over the counter live flu vaccine has been found to contain two H5N1 DNA markers.
I would recommend you view the short video and make up your own mind whether you should take a flu vaccine or this 'Flu Mist', or any vaccine.
Your body is your temple of existence here — only you should have command of that temple Kewe |
Click here for H5N1 DNA markers found in Flu Mist
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Tools of the New World Order Illuminati wealth — the most foul evil human and non-human vipers Kewe |
This strategy of choosing an alleged “lesser evil” because he/she might be influenced by some mythical “popular movement” would be naïve if put forth by a high school student.
Professors Chomsky and Zinn know better.
If it’s incremental change they want, why not encourage their many readers to vote for Ralph Nader or Cynthia McKinney?
The classic (read: absurd) reply to that question is: “Because Nader or McKinney can’t win.”
Of course they can’t win if everyone who claims to agree with them inexplicably votes for Obama instead.
Paging Alice: You’re wanted down the goddamned rabbit hole.
I promise you this:
The human beings (and all living things) that come after us won’t care whether we voted for Obama or McCain in 2008... if they have no clean air to breathe, no clean water to use, and are stuck on a toxic, uninhabitable planet.
They’d probably just want to ask us this:
Why did you stand by and let everything be consumed or poisoned or destroyed? | ||||
Click here for Mickey Z — Chomsky, Zinn, and Obama
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| America is dying, self-destructing and bringing the rest of the world down with it. Often referred to as a sub-prime mortgage collapse, this obfuscates the real reason. By associating tangible useless failed mortgages, at least something 'real' can be blamed for the carnage. The problem is, this is myth. The magnitude of this fiscal collapse happened because it was all based on hot air. The banking industry renamed insurance betting guarantees as 'credit default swaps' and risky gambling wagers were called 'derivatives'. Financial managers and banking executives were selling the ultimate con to the entire world, akin to the snake-oil salesmen from the 18th century but this time in suits and ties. And by October 2008 it was a quadrillion-dollar (that's $1,000 trillion) industry that few could understand. Propped up by false hope, America is now falling like a house of cards. |
Orgy of excess
After 9/11, George Bush told the nation to spend, and during a time of war, that's what the nation did.
It borrowed at unprecedented levels so as to not only pay for its war on terror in the Middle East (calculated to cost $4 trillion) but also pay for tax cuts at the very time it should have increased taxes.
Bush removed the reserve requirements in Fannie Mae and Freddie Mac, from 10% to 2.5%.
Fannie Mae and Freddie Mac were free to not only lend even more at bargain basement interest rates, they only needed a fraction of reserves.
Soon banks lent thirty times asset value.
It was, as one economist put it, an 'orgy of excess'.
It was flagrant overspending during a time of war.
At no time in history has a nation gone into conflict without sacrifice, cutbacks, tax increases, and economic conservation.
Created 'insurance policies'
And there was a growing chance that, just like in 1929, investors would rush to claim their money all at once.
To guarantee, therefore, these high risk mortgages, the same financial houses that sold them then created 'insurance policies' against the sub-prime investments they were selling, marketed as Credit Default Swaps (CDS).
But the government must regulate insurance policies, so by calling them CDS they remained totally unregulated.
Financial institutions were 'hedging their bets' and selling premiums to protect the junk assets.
In other words, the asset that should go up in value could also have a side-bet, just in case, that it might go down.
By October 2008, CDS were trading at $62 trillion, more than the stock markets of the whole world combined.
No value whatsoever — high stakes gambling
These bets had absolutely no value whatsoever and were not investments.
They were just financial instruments called derivatives — high stakes gambling, 'nothing from nothing' — or as Warren Buffet referred to them, 'Weapons of Financial Mass Destruction'.
The derivatives trade was 'worth' more than one quadrillion dollars, or larger than the economy of the entire world.
In September 2008 the global Gross Domestic Product was $60 trillion.
If derivatives defaulted hedge funds had no money to pay 'from nothing'
Challenged as being illegal in the 1990s, Greenspan legalised the derivatives practise.
Soon hedge funds became an entire industry, betting on the derivatives market and gambling as much as they wanted.
It was easy because it was money they did not have in the first place.
The industry had all the appearances of banks, but the hedge funds, equity funds, and derivatives brokers had no access to government loans in the event of a default.
If the owners defaulted, the hedge funds had no money to pay 'from nothing'.
Those who had hedged on an asset going up or down would not be able to collect on the winnings or losses.
The market had become the largest industry in the world, and all the financial giants were cashing in: Bear Stearns, Lehman Brothers, Citigroup, and AIG.
Borrowing to pay for groceries, skyrocketing health insurance, bigger cars
But homeowners, long maxed out on their credit, were now beginning to default on their mortgages.
Not only were they paying for their house but also all the debt amassed over the years for car, credit card and student loans, medical payments and home equity loans.
They had borrowed to pay for groceries and skyrocketing health insurance premiums to keep up with their bigger houses and cars; they refinanced the debt they had for lower rates that soon ballooned.
The average American owed 25% of their annual income to credit card debts alone.
In 2008, housing prices began to slide precipitously downwards and mortgages were suddenly losing value.
Manufacturing orders were down 4.5% by September, inventories began to pile up, unemployment was soaring and average house foreclosures had increased by 121% and up to 200% in California.
The financial giants had to stop trading these mortgage-backed securities, as now their losses would have to be visibly accounted for.
Investors began withdrawing funds — JP Morgan able to buy at $2 a share
Investors began withdrawing their funds.
Bear Stearns, heavily specialised in home loan portfolios, was the first to go in March.
Just as they had done in the 20th century, JP Morgan swooped in and picked up Bear Stearns for a pittance.
One year prior Bear Stearns shares traded at $159 but JP Morgan was able to buy in and take over at $2 a share.
In September, Washington Mutual collapsed, the largest bank failure in history.
JP Morgan again came in and paid $1.9 billion for assets valued at $176 billion.
It was a fire sale.
Freddie Mac and Fannie Mae nationalisation
Relatively quietly over the summer Freddie Mac and Fannie Mae, the publicly traded companies responsible for 80% of the home mortgage loans, lost almost 90% of their value for the year.
Together they were responsible for half the outstanding loan amounts but were now in debt $80 to every $1 in capital reserves.
To guarantee they would stay alive, the Federal Reserve stepped in and took over Freddie Mac and Fannie Mae.
On September 7th 2008 they were put into 'conservatorship': known as nationalisation to the rest of the world, but Americans have difficulty with the idea of any government run industry that required taxpayer increases.
What the government was really doing was handing out an unlimited line of credit.
Done by the Federal Reserve and not US Treasury, it was able to bypass Congressional approval.
The Treasury Department then auctioned off Treasury bills to raise money for the Federal Reserve's own use, but nonetheless the taxpayer would be funding the rescue.
Bankers bled tens of billions from system by hedging and derivative gambling
The bankers had bled tens of billions from the system by hedging and derivative gambling, and triggered the portfolio inter-bank lending freeze, which then seized up and crashed.
The takeover was presented as a government funded bailout of an arbitrary $700 billion, which does nothing to solve the problem.
No economists were asked to present their views to Congress, and the loan only perpetuates the myth that the banking system is not really dead.
In reality, the damage will not be $700 billion but closer to $5 trillion, the value of Freddie Mac and Fannie Mae's mortgages.
It was nothing less than a bailout of the quadrillion dollar derivatives industry which otherwise faced payouts of over a trillion dollars on CDS mortgage-backed securities they had sold.
It was necessary, said Treasury Secretary Henry Paulson, to save the country from a 'housing correction'.
But, he added, the $700 billion taxpayer funded takeover would not prevent other banks from collapsing, in turn causing a stock market crash.
Paulson leading a coup by banking elite
In other words Paulson was blackmailing Congress in order to lead a coup by the banking elite under the false guise of necessary legislation to stop the dyke from flooding.
It merely shifted wealth from one class to another, as it had done almost a century prior.
No sooner were the words were out of Paulson's mouth before other financial institutions began imploding, and with them the disintegration of the global financial system — much modelled after the lauded system of American banking.
In September the Federal Reserve, its line of credit assured, then bought the world largest insurance company, AIG, for $85 billion for an 80% stake.
AIG was the largest seller of CDS, but now that it was in the position of having to pay out, from collateral it did not have, it was teetering on the edge of bankruptcy.
European banks exploding — Iceland bankrupt — Pakistan on edge of collapse
In October the entire country of Iceland went bankrupt, having bought American worthless sub-prime mortgages as investments.
European banks began exploding, all wanting to cash in concurrently on their inflated US stocks to pay off the low interest rate debts before rates climbed higher.
The year before the signs had been evident, when the largest US mortgage lender Countrywide fell.
Soon after, the largest lender in the UK, Northern Rock, went under — London long having copied Wall Street creative financing.
Japan and Korea's auto manufacturing nosedived by 37%, global economies contracting.
Pakistan is on the edge of collapse too, with real reserves at $3 billion — enough to only buy a month's supply of food and oil and attempting to stall payments to Saudi Arabia for the 100,000 barrels of oil per day it provides to the country.
Under President Musharraf, who left office in the nick of time, Pakistan's currency lost 25% of its value, its inflation running at 25%.
Cost of barrel of oil based upon Wall Street speculators — costs immediately passed to already spent homeowner
Meanwhile energy costs had soared, with oil reaching a peak of almost $150 per barrel in the summer.
The costs were immediately passed on to the already spent homeowner, in rising heating and fuel, transport and manufacturing costs.
Yet 30% of the cost of a barrel of oil was based upon Wall Street speculators, climbing to 60% as a speculative fear factor during the summer months.
As soon as the financial crisis hit, suddenly oil prices slid down, slicing oil costs to $61 from a high of $147 in June and proving that the 60% speculation factor was far more accurate.
This sudden decline also revealed OPEC's lack of control over spiralling prices during the past few years, almost squarely laid on the shoulders of Saudi Arabia alone.
When OPEC, in September, sought to maintain higher prices by cutting production, it was Saudi Arabia who voted against such a move at the expense of its own revenue.
Europe then decided that no more would it be ruined by the excess of America.
'Olde Europe' may have had enough of being dictated to by the US, who refused to compromise on loans lent to their own broken nations after WWII.
On October the 13th, the once divided EU nations unilaterally agreed to an emergency rescue plan totaling $2.3 trillion.
It was more than three times greater than the US package for a catastrophe America alone had created.
Greenspan's pyramid scheme of easy money from nothing
By mid October, the Dow, NASDAQ and S&P 500 had erased all the gains they made over the previous decade.
Greenspan's pyramid scheme of easy money from nothing resulted in a massive overextension of credit, inflated housing prices, and incredible stock valuations, achieved because investors would never withdraw their money all at once.
But now it was crashing at break-neck speed and no solution in sight.
President Bush said that people ought not to worry at all because "America is the most attractive destination for investors around the globe."
Those who saved their pensions for retirement
Those who will hurt the most are the very men and women who grew the country after WWII, and saved their pensions for retirement due now.
They had built the country during the war production years, making its weapons and arms for global conflict.
During the Cold War the USSR was the ever-present enemy and thus the military industrial complex continued to grow.
Only when there is a war does America profit.
Russia will not tolerate a new cold war build-up of ballistic missiles.
And the Middle East has seen its historical ally turn into its worst nightmare, be it militarily or economically.
No longer will these nations continue to support the dollar as the world's currency.
The world's economy is no longer America's to control and the US is now indebted to the rest of the world.
Biggest act of criminal corruption in history has just been perpetrated by the United States
No more will the US be able to demand its largest Middle Eastern oil supplier open up its banking books so as to be transparent and free from corruption and terrorist connections lest there be consequences — the biggest act of criminal corruption in history has just been perpetrated by the United States.
It was the best con game in town: get paid well for selling vast amounts of risk, fail, and then have governments fix the problem at the expense of the taxpayers who never saw a penny of shared wealth to begin with.
There is no easy solution to this crisis, its effects multiplying like an infectious disease.
Ironically, least affected by the crisis are Islamic banks.
They have largely been immune to the collapse because Ilamic banking prohibits the acquisition of wealth via gambling (or alcohol, tobacco, pornography, or stocks in armaments companies), and forbids the buying and selling of a debt as well as usury.
Additionally, Shari'ah banking laws forbid investing in any company with debts that exceed thirty percent.
"Islamic banking institutions have not failed per se as they deal in tangible assets and assume the risk" said Dr. Mohammed Ramady, Professor of Economics at King Fahd University of Petroleum & Minerals.
"Although the Islamic banking sector is also part of the global economy, the impact of direct exposure to sub-prime asset investments has been low" he continued.
"The liquidity slowdown has especially affected Dubai, with its heavy international borrowing. The most negative effect has been a loss of confidence in the regional stock markets."
Instead, said Dr. Ramady, oil surplus Arab nations are "reconsidering overseas investments in financial assets" and speeding up their own domestic projects.
When debts and deficits come due, they just issue new Treasury bonds to cover the old bonds due
Eight years ago, in May 2000, Saudi Islamic banker His Highness Dr. Nayef bin Fawaaz ibn Sha'alan publicly gave a series of economic lectures in Gulf states.
At the time his research showed that Arab investments in the US, to the tune of $1.5 trillion, were effectively being held hostage and he recommended they be pulled out and reinvested in the tangibles of the Arab and Islamic markets.
"Not in stocks however because the stock market could be manipulated remotely, as we have seen in the last couple of years in the Arab market where trillions of dollars evaporated" he said.
He warned then that it was a certainty that the US economic system was on the verge of collapse because of its cumulative debts, ever-increasing deficit and the interest on that debt.
"When the debts and deficits come due, they just issue new Treasury bonds to cover the old bonds due, with their interest and the new deficit too."
The cycle cannot be stopped or the debt cancelled because the US would no longer be able to borrow.
Total collapse
The consequence of relieving this cycle would be a total collapse of their economic system as opposed to the partial, albeit massive, crash of 2008.
"Islamic banking", said Dr. Al-Sha'alan, "always protects the individuals' wealth while putting a cap on selfishness and greed. It has the best of capitalism — filtering out its negatives — and the best of socialism — filtering out its negatives too."
Both systems inevitably had to fail.
Additionally, Europe and Japan did not need to be held accountable and indebted to America anymore for protection against the Soviets.
"The essential difference between the Islamic economic system and the capitalist system is that in Islam wealth belongs to God — the individual being only its manager.
It is a means, not a goal.
In capitalism, it is the reverse: money belongs to the individual, and is a goal in and of itself.
In America especially, money is worshipped like God."
In sum, the crash of the entire global economic system is a result of America's fiscal arrogance based upon one set of rules for itself and another for the rest of the world.
Its increased creative financing deluded its people into a false sense of security, and now looks like the failure of capitalism altogether.
The whole exercise in democracy by force against Arab Muslim nations has almost bankrupted the US.
The Cold War is over and the US has nothing to offer: no exports, no production, few natural resources, and no service sector economy.
The very markets that resisted US economic policies the most, having curbed foreign direct investments into America, are those who will fare best and come out ahead.
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Europe on the brink of currency crisis meltdown
By Ambrose Evans-Pritchard
26 Oct 2008 The crisis in Hungary recalls the heady days of the UK’s expulsion from the ERM. The financial crisis spreading like wildfire across the former Soviet bloc threatens to set off a second and more dangerous banking crisis in Western Europe, tipping the whole Continent into a fully-fledged economic slump. Currency pegs are being tested to destruction on the fringes of Europe’s monetary union in a traumatic upheaval that recalls the collapse of the Exchange Rate Mechanism in 1992. “This is the biggest currency crisis the world has ever seen,” said Neil Mellor, a strategist at Bank of New York Mellon. Experts fear the mayhem may soon trigger a chain reaction within the eurozone itself. The risk is a surge in capital flight from Austria – the country, as it happens, that set off the global banking collapse of May 1931 when Credit-Anstalt went down — and from a string of Club Med countries that rely on foreign funding to cover huge current account deficits. The latest data from the Bank for International Settlements shows that Western European banks hold almost all the exposure to the emerging market bubble, now busting with spectacular effect. They account for three-quarters of the total $4.7 trillion £2.96 trillion) in cross-border bank loans to Eastern Europe, Latin America and emerging Asia extended during the global credit boom — a sum that vastly exceeds the scale of both the US sub-prime and Alt-A debacles. Europe has already had its first foretaste of what this may mean. Iceland’s demise has left them nursing likely losses of $74bn (£47bn). The Germans have lost $22bn. Stephen Jen, currency chief at Morgan Stanley, says the emerging market crash is a vastly underestimated risk. It threatens to become “the second epicentre of the global financial crisis”, this time unfolding in Europe rather than America. Austria’s bank exposure to emerging markets is equal to 85pc of GDP — with a heavy concentration in Hungary, Ukraine, and Serbia — all now queuing up (with Belarus) for rescue packages from the International Monetary Fund. Exposure is 50pc of GDP for Switzerland, 25pc for Sweden, 24pc for the UK, and 23pc for Spain. The US figure is just 4pc. America is the staid old lady in this drama. Amazingly, Spanish banks alone have lent $316bn to Latin America, almost twice the lending by all US banks combined ($172bn) to what was once the US backyard. Hence the growing doubts about the health of Spain’s financial system — already under stress from its own property crash — as Argentina spirals towards another default, and Brazil’s currency, bonds and stocks all go into freefall. Broadly speaking, the US and Japan sat out the emerging market credit boom. The lending spree has been a European play — often using dollar balance sheets, adding another ugly twist as global “deleveraging” causes the dollar to rocket. Nowhere has this been more extreme than in the ex-Soviet bloc. The region has borrowed $1.6 trillion in dollars, euros, and Swiss francs. A few dare-devil homeowners in Hungary and Latvia took out mortgages in Japanese yen. They have just suffered a 40pc rise in their debt since July. Nobody warned them what happens when the Japanese carry trade goes into brutal reverse, as it does when the cycle turns. The IMF’s experts drafted a report two years ago — Asia 1996 and Eastern Europe 2006 — Déjà vu all over again? — warning that the region exhibited the most dangerous excesses in the world. Inexplicably, the text was never published, though underground copies circulated. Little was done to cool credit growth, or to halt the fatal reliance on foreign capital. Last week, the silent authors had their moment of vindication as Eastern Europe went haywire. Hungary stunned the markets by raising rates 3pc to 11.5pc in a last-ditch attempt to defend the forint’s currency peg in the ERM. Blood in water for hedge funds sharks It is just blood in the water for hedge funds sharks, eyeing a long line of currency kills. “The economy is not strong enough to take it, so you know it is unsustainable,” said Simon Derrick, currency strategist at the Bank of New York Mellon. Romania raised its overnight lending to 900pc to stem capital flight, recalling the near-crazed gestures by Scandinavia’s central banks in the final days of the 1992 ERM crisis — political moves that turned the Nordic banking crisis into a disaster. Russia too is in the eye of the storm, despite its energy wealth — or because of it. The cost of insuring Russian sovereign debt through credit default swaps (CDS) surged to 1,200 basis points last week, higher than Iceland’s debt before Götterdammerung struck Reykjavik. The markets no longer believe that the spending structure of the Russian state is viable as oil threatens to plunge below $60 a barrel. The foreign debt of the oligarchs ($530bn) has surpassed the country’s foreign reserves. Some $47bn has to be repaid over the next two months. Traders are paying close attention as contagion moves from the periphery of the eurozone into the core. They are tracking the yield spreads between Italian and German 10-year bonds, the stress barometer of monetary union. The spreads reached a post-EMU high of 93 last week. Nobody knows where the snapping point is, but anything above 100 would be viewed as a red alarm. The market took careful note on Friday that Portugal’s biggest banks, Millenium, BPI, and Banco Espirito Santo are preparing to take up the state’s emergency credit guarantees. Hans Redeker, currency chief at BNP Paribas, says there is an imminent danger that East Europe’s currency pegs will be smashed unless the EU authorities wake up to the full gravity of the threat, and that in turn will trigger a dangerous crisis for EMU itself. “The system is paralysed, and it is starting to look like Black Wednesday in 1992. I’m afraid this is going to have a very deflationary effect on the economy of Western Europe. It is almost guaranteed that euroland money supply is about to implode,” he said. A grain of comfort for British readers: UK banks have almost no exposure to the ex-Communist bloc, except in Poland — one of the less vulnerable states. The threat to Britain lies in emerging Asia, where banks have lent $329bn, almost as much as the Americans and Japanese combined. Whether you realise it or not, your pension fund is sunk in Vietnamese bonds and loans to Indian steel magnates. Didn’t they tell you? © Copyright of Telegraph Group Limited 2008 |
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I wonder how different Corby and Britain will be two or three years from now |
24 October 2008 Boom town in midst of looming recession
It must be the perverse part of my nature, but when asked to go somewhere that illustrated the looming recession, I chose the place analysts had identified as the most immune to the downturn.
Corby in Northamptonshire is regarded as a boom town: huge expansion is under way — a new shopping centre, railway station, Olympic swimming pool and thousands of houses. But there is no hiding place from the cold winds heading Britain's way.
New Labour's anthem from the mid-90s promised "Things Can Only Get Better". And Corby has been living that dream. It still is — riding the wave of consumerism that has transformed Britain. But now people are glancing at the small print warning how things can go down as well as up.
Leanne Noonan
I met 15-year-old Leanne Noonan learning how to lay bricks as part of a construction course at a local college. After leaving school she hopes to join the local building boom. Talk of recession takes her into scary, uncharted territory: since her very conception, Britain and Corby has always been getting richer.
"There's always something better coming out that you can get," she tells me. Like many of her generation, Leanne inhabits a world where status and self-worth are measured by brands and shopping choices — a culture of materialism built on brittle plastic foundations.
"When you go out shopping you just get a thrill and you want to buy everything. But if you haven't got the money and you've got no clothes and no trainers people will be looking at you dead weird," she admits.
"If I was to wear two-stripe trainers then people would be like — 'hah! what are you wearing?'" Leanne explained to me. If you are teenager, the number of stripes on your trainers can make a difference.
Leanne's school, a brand new Norman Foster-designed academy, was commissioned as a beacon for an expanding, confident Corby. But all is not well. Hundreds of family homes should be under construction just beyond the school gates. Work has come to an abrupt halt.
We looked out of the school window at the empty acres. "That", I told her, "is what a recession looks like." "My future's just going to end up like that if this carries on," she replied.
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Janita Mackin
Corby was once defined by its steel industry.
When that died, it reinvented itself as a service-based economy — echoing the changes across Britain.
Today huge warehouses circle a town which has become a logistics hub for a nation addicted to shopping.
Janita Mackin was born, bred and is now a successful accountant in Corby.
"Like most girls in this country I was definitely born to shop," she tells me as we walk around the shiny new shopping centre.
"In the past we had to go outside of the town to get any kind of variety, but now the shops have come to us and that's fantastic news."
The chain stores which have chosen to open in Corby represent feathers in the cap of a 21st Century British town.
"It's quite nice to be able to look through and see some new shops, brand names that we've all wanted for such a long time" Janita says.
A huge Primark superstore will soon open its doors, bringing kudos and, perhaps, a lifeline in troubled times.
Janita knows that Corby cannot escape the changing economic climate.
"It's lovely to have all these things, buy the house you want and fill it with all the things that you want. But it can't go on for ever it would be almost wishful thinking."
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Frank Black
When the out-of-town shopping experience came to Corby, the town felt a wave of self-confidence.
But for Janita's father, Frank Black, the giant Asda tells a more poignant story.
"Literally where we are at this moment was the blast furnaces of the steel plant", he told me as we walked the central aisle of the store.
From steel-making to shopping. From manufacturing to retail. That spot sums up the change in Corby and Britain.
Frank has photographs documenting the moment the furnace crashed. With its destruction, he became a statistic in a town with 30% unemployment. Frank understands what the word recession means.
"At that time there wasn't credit cards to run up bills and hope for the future — we struggled, simple as that." There was a sense of community in Corby which saw people through. Most of the residents were in the same boat, families relocated from Scotland to provide the labour for an industry that had died. This time, Frank fears, the social glue is much weaker.
"There's a lot of immigrants come into Corby — they've been welcomed — I haven't heard anybody speak against them," Frank says. "I just wonder, when people start losing their jobs and the immigrants have got work, I wonder if there'll be any response to that. That does concern me."
He also describes a generation of young people who don't know what it means to tighten belts and go without. He predicts difficult times ahead — but he is not fatalistic.
"We've just got on the bandwagon and enjoyed life. I really think, in a daft sort of way, this might help to save us. Make us see sense."
Corby cannot escape the cold winds of recession, however optimistic the analysts may be. But it is a town that has been through adversity more than once and found ways to reinvent itself. I wonder how different Corby and Britain will be two or three years from now.
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It's more risky than the oil crisis or the dot com bubble |
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Friday, 24 October 2008
South Koreans discuss credit crunch
At the end of a week in which shares in South Korea's stock market fell by 20%, four South Koreans tell the BBC News how rising prices and financial uncertainty are affecting them.
ALEX SANGYONG CHO, BUSINESSMAN, SEOUL
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The cost of food and eating out has definitely gone up.
So have public services, such as gas.
And taxis.
About two or three months ago I started to change the way I do things.
I don't go out drinking like before and I've stopped going to nice expensive restaurants.
I have started to look for coupons and restaurant discounts.
I think this downturn will be more serious than the one we had 10 years ago.
Back then, people became patriots of the government.
That's not happening this time around.
This time it's a global problem, involving the United States.
It's more risky than the oil crisis or the dot com bubble. 
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CHINSOL KIM, CIVIL SERVANT, SEOUL
SEON-GUK KIM, STUDENT, SEOUL
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I don't think it will be easy at all to get a job — but it was like this even before the financial crisis.
I have applied to at least 60 companies for a job in marketing — that's normal — and I am through to the next stage with three or four of them.
What makes me feel worse is the media, it's always on the news.
I think the atmosphere makes everyone feel bad about it.
We are all worrying about an uncertain future.
As far as I know, the prices of essential stuff, like food and paper tissues, have already gone up.
I am managing OK financially; I work part time in the college restaurant and I worked all holidays, teaching English in a summer camp.
So right now money is not a big problem for me.
DONG-HYUN KANG, BUSINESS STUDENT, 18, SEOUL
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I usually buy CDs imported from Britain or the US.
I wanted to get a new release recently, but the price was so enormous I decided against it.
It had gone up by about 50%, from 16,000 Korean won (US$11) to 24,000 won (US$17).
I want to be an entrepreneur, especially in the financial sector.
It would be good to start by working for a big company like Samsung Electronics or Hyundai Motors, but getting in is very difficult.
I'm not very optimistic: the government has lost its credibility and economic officials are changing their position too often which increases market uncertainty.
I think Korea's economic structure is also very distorted.
The property and building industry plays too large a role in our domestic economy, while other industries play too small a role.
House prices are too high, so people burden themselves with large mortgages.
All this leaves us vulnerable.
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| In individuals, insanity is rare.
In groups, parties, nations and epochs it is the rule.
Nietzsche |
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Much Faster Than Anticipated
Jim Sinclair, October 24, 2008
Gold is a currency.
Paper currency insures nothing.
Gold is insurance.
Gold is not a commodity.
Gold will trade at a minimum of $1650 much sooner than i have anticipated.
The shorts in gold shares will get what they deserve — financial decimation.
Your friend, Jim
Central bank warns of risks in illegal gold futures speculation
Jim,
This is an interesting bit of news-speak from China as the gold market gets hammered even as the US Treasury and Europe issue debt and print money like there's no tomorrow.
This manner of speaking strikes me as China's way of indirectly telling the Western entities that are working the manipulation in the paper gold market to knock it off.
They won't come out and speak to this directly; they'll make these cryptic remarks about some oddball thing they say is going on in their own domestic market.
"Extremely high risk of illegal futures trading..." That's sounds to me like Sino-speak for we will slam you if you keep up the coordinated attacks on gold via London.
The rest about the local players is their way of saying to anyone in their own yard who's part of it that they need to watch themselves as well (I'd say Hong Kong in the mix that way).
China opened its markets to outside exchanges this summer.
Chinese institutions and individuals can buy into ETFs and gold funds like anyone else now, if I recall correctly, so whatever this local thing they're talking about it seems to be some smoke they've blown in there.
That's how they operate.
You can pretty much guarantee that the westerners won't pick up on it and the next 'message' will be sterner.
The same thing happened in Korea.
They dropped all these hints that they were uncomfortable with US forces getting up to the Yalu River.
Westerners accustomed to more direct methods of speaking didn't get it and we got the whole saga of the Chosin Reservoir for our trouble.
We're still sitting on the 38th parallel 50 years later.
(See "Enter the dragon" for a good dialogue on how Chinese diplomacy works in that way).
It was interesting to see it in action when I studied their defense philosophy back in 2001 when I was there through George Mason Univ."
CIGA Jim B
Dear CIGA Jim B,
Of course you are right.
I have spent more than a year negotiating with various Chinese companies, so your mention of Sino Speak is dead on target.
You are so far the only person who read, understood and communicated that to me.
What was being said is a direct and angry comment on the US manipulative stabilization. Well done.
Respectfully, Jim S.
Copyright © 2008 Jim Sinclair's MineSet All rights reserved |
| This is not a recommendation for anything except food
Food — two years supply minimum — for your family, parents, grandparents, extended relatives, and unexpected campers
Useless paper, electronic money left over?
This is not a recommendation as I am not a financial analyst
But if I had extra money it would be for tested gold and silver metal that I carry away in my hands from where I purchase it
And then bury in the garden soil, with a plant on top
But food first
Kewe |
| Oil 50 US dollars a barrel in early 2009!
What should be clear is that each visit to the gas pump these past months has meant giving a few dollars, pounds, euros, whatever currency, to the rich elite bankers and derivative gamblers around the world
The elite powers that control are working this scam
Plans for 'ups,' plans for 'downs,' operating from conferences held years past to present
All of it taking our money directly from our pockets
Kewe |
He Called the Peak in Oil, Now Bleier Sees $50 Crude in Early '09 Oct 23, 2008 by Aaron Task in Investing, Commodities "The commodity trade is over...oil is going to $100 per barrel." Or so declared Scott Bleier, president of CreateCapital.com, on July 18. What sounded like an outrageous prediction then turned out to be too conservative as commodities, led by oil and gold, have crashed. Today, Bleier predicts oil will fall to as low as $50 a barrel in early 2009, and, short of turning off the spigots entirely, he doesn't think OPEC — which is meeting in Vienna this week — can do much about it. "There was too much money allocated" to commodities and now "that trade is coming unwound," he said, reiterating a prior view that speculation (vs. fundamentals) was entirely responsible for the rally — or at least its final phase earlier this year. As for commodity-related stocks, like Exxon, Freeport-McMoran and Potash, Bleier thinks they're likely to bounce in conjunction with the broader market as those same hedge funds seek to salvage what has been an abysmal year, to date. Long-term investors would be wise to sell on any such bounce, he adds.
Kill the Oil Speculators: Raise Margin Requirements, Force Physical Delivery
Jul 01, 2008 by Aaron Task in Investing, Commodities
Here we go again.
The great debate over speculation vs. fundamentals is back on Tuesday after the IEA issued a report warning of 'tight' supply and a 'negligible' OPEC cushion.
On the other hand, OPEC president Chakib Khelil worried about the 'security of demand', and other OPEC officials declared supply to be ample at the World Petroleum Congress in Madrid.
Scott Bleier, president of HybridInvestors.com, is firmly in the 'blame the speculators' camp, arguing crude would be closer to $80 instead of $140 if not for the role of financial vs. physical demand.
Bleier joins a growing list of Tech Ticker guests arguing that oil is in a bubble driven by speculative demand.
Bleier's "solution" to the problem of $140 oil is to force speculators to take physical delivery of oil — vs. just trading futures contracts — and to raise margin requirements on commodity speculators.
I can't argue with those recommendations, and Bleier and I also agree that legislation aimed at banning speculation and/or prohibiting pension funds from investing in commodities is wrong-headed and anti-American.
Still, I continue to believe fundamentals explain the bulk of oil's surge in recent years: Demand is rising faster than supply, and major oil producers are either unable to raise production because of supply constraints, or unwilling because of resource nationalism.
As with most debates, there's no 'black or white' answer to the speculators vs. fundamentals question, as BP CEO Tony Hayward declared: "Speculators believe in the fundamentals... the era of cheap oil is over as expanding economies like China and India are boosting demand."
Copyright © 2008 Yahoo! Inc. |
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Comment from Kewe:
I would wish to tell you all but do my words encourage
So to whom I speak are to those who know
As such this is the First Winter
Much may, or may not be done
What I am encouraged to say is the result of such actions
Death for many is an irreversible act
Life will take its course into death and the ghost body waits
For those who commit great death, they will not go into the light
The ghost body will be sucked into the bowels where only the most severe of unholy are taken
Here the ghost body will remain, for eons, until full restitution is achieved
Have knowledge of this consequence for this is/will be your fate
Kewe |
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Wednesday, 22 October 2008
The 'Hotel Honda'
The US former bank worker
now sleeping in his car
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But it didn't happen this time.
On a Friday, my manager came to my desk.
Usually he came by to ask me if I could put in some overtime.
But, just by the look on his face, I could tell.
This wasn't an overtime request.
This is it, I said to myself.
Sure enough, I was told that my last day would be the end of the month.
Though I didn't show it outwardly, I was devastated.
I would have another month before leaving so that I could start yet another job search.
I immediately contacted my agency to let them know that the assignment would be ending.
My last day at the bank was bitter-sweet.
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There was a cake and a card.
We joked but inside I was truly frightened.
I asked myself what would happen to me now, in such a difficult job market?
Would I become homeless?
At the end of my last day, my manager came downstairs with me.
We had a cigarette and talked.
"Bruce, if I can get you back here, you know I will," he said.
His words were kind and well-intentioned.
My life today has changed dramatically since my brief tenure with the bank.
Now I'm facing a very uncertain future.
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I'm no longer collecting a nice pay check, going to work every day and returning home at night.
I'm no longer a part of the team I so enjoyed working with.
Months passed as my savings gradually dwindled.
I was only collecting a small unemployment check from a low paying 'between-jobs' job that I had prior to signing on with the bank.
I had to move from my apartment, put my belongings in storage and find a homeless shelter.
I now sleep in the back of my car, while I wait for a bed to become available at the shelter.
I call it The Hotel Honda.
I keep a good suit and a dress shirt in the back of the car for interviews.
I tell recruiters that I'm working.
This is not the life I imagined for myself when I graduated from university.
I never thought it would ever come down to this, but here I am — homeless.
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Unlike the Europeans, we in the US don't have much of a social safety net.
My meagre unemployment income is too high to let me qualify for Social Services, yet far too inadequate to pay for my home, food, car, utilities and health insurance.
I have hypertension, yet I can't afford a doctor, the emergency room or vital medication.
I need a corrective eye surgery that I can't afford.
Even routine check-ups are out of reach.
My meals are taken at a soup kitchen.
This is poverty.
What galls me the most is that about one third of my income is taxed.
I'm taxed on what I earn and taxed on what I spend.
Now that I'm in need there is nowhere to turn.
Nobody is helping me except for my contributions to my unemployment account.
Yet our leaders have found a way to bail out the very institutions that have put myself, and others, at risk.
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| A little extreme!
Just to get rid of the Illuminati!
Don't laugh
Kewe psst ... my guidance is.... but I can't resist (though I do realize many people are dying and many more are in pain — and it's a viewpoint for me... and all this is not a joke) |
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Sun's protective 'bubble' is shrinking
By Richard Gray, Science Correspondent
19 Oct 2008 The protective bubble around the sun that helps to shield the Earth from harmful interstellar radiation is shrinking and getting weaker, Nasa scientists have warned.
New data has revealed that the heliosphere, the protective shield of energy that surrounds our solar system, has weakened by 25 per cent over the past decade and is now at it lowest level since the space race began 50 years ago.
Scientists are baffled at what could be causing the barrier to shrink in this way and are to launch mission to study the heliosphere.
The Interstellar Boundary Explorer, or IBEX, will be launched from an aircraft on Sunday on a Pegasus rocket into an orbit 150,000 miles above the Earth where it will "listen" for the shock wave that forms as our solar system meets the interstellar radiation.
Dr Nathan Schwadron, co-investigator on the IBEX mission at Boston University, said:
“The interstellar medium, which is part of the galaxy as a whole, is actually quite a harsh environment.
There is a very high energy galactic radiation that is dangerous to living things.
Around 90 per cent of the galactic cosmic radiation is deflected by our heliosphere, so the boundary protects us from this harsh galactic environment.”
The heliosphere is created by the solar wind, a combination of electrically charged particles and magnetic fields that emanate a more than a million miles an hour from the sun, meet the intergalactic gas that fills the gaps in space between solar systems.
At the boundary where they meet a shock wave is formed that deflects interstellar radiation around the solar system as it travels through the galaxy.
The scientists hope the IBEX mission will allow them to gain a better understanding of what happens at this boundary and help them predict what protection it will offer in the future.
Without the heliosphere the harmful intergalactic cosmic radiation would make life on Earth almost impossible by destroying DNA and making the climate uninhabitable.
Measurements made by the Ulysses deep space probe, which was launched in 1990 to orbit the sun, have shown that the pressure created inside the heliosphere by the solar wind has been decreasing.
Dr David McComas, principal investigator on the IBEX mission, said:
“It is a fascinating interaction that our sun has with the galaxy surrounding us.
This million mile an hour wind inflates this protective bubble that keeps us safe from intergalactic cosmic rays.
With less pressure on the inside, the interaction at the boundaries becomes weaker and the heliosphere as a whole gets smaller.”
If the heliosphere continues to weaken, scientists fear that the amount of cosmic radiation reaching the inner parts of our solar system, including Earth, will increase.
This could result in growing levels of disruption to electrical equipment, damage satellites and potentially even harm life on Earth.
But Dr McComas added that it was still unclear exactly what would happen if the heliosphere continued to weaken or what even what the timescale for changes in the heliosphere are.
He said:
“There is no imminent danger, but it is hard to know what the future holds.
Certainly if the solar wind pressure was to continue to go down and the heliosphere were to almost evaporate then we would be in this sea of galactic cosmic rays.
That could have some large effects.
It is likely that there are natural variations in solar wind pressure and over time it will either stabilise or start going back up.”
© Copyright of Telegraph Group Limited 2008 |
| Come, let's away to prison: We two alone will sing like birds i' the cage: When thou dost ask me blessing, I'll kneel down, And ask of thee forgiveness: so we'll live, And pray, and sing, and tell old tales, and laugh At gilded butterflies, and hear poor rogues Talk of court news; and we'll talk with them too, Who loses and who wins; who's in, who's out; And take upon's the mystery of things, As if we were God's spies: and we'll wear out, In a wall'd prison, packs and sects of great ones, That ebb and flow by the moon. |
This then is the bloodstained hand that Barack Obama has clasped so warmly, so triumphantly, on his march to power.
As for Powell, he has proven himself once more the ultimate courtier.
In the latest intramural tussle in the imperial court, his keen and practiced eye has picked out the coming man — and so he has jettisoned the faction he has served for so long, and latched on to the winning side yet again.
... And why not?
Powell has always been a faithful servant of America's militarist empire — no matter who its temporary manager might be.
Click here for Chris Floyd's article on the scum that doesn't want to go away
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| Temporary being the incorporative word
— see below Kewe |
 |
| Europe, Russia, China, Japan,... are certainly the collective players who can make sure that the unfolding implosion of today’s world power, i.e. the United States, does not drive the planet into a disaster. Indeed, except for Gorbachev’s USSR, empires have a tendency to strive in vain to reverse the course of history when they realize their might is escaping them. It then belongs to partner-powers to channel the process peacefully, as well as it belongs to the citizens and rulers of the concerned country to be clear-sighted and face the difficult times they are about to cross. |
| January 8 1986 to October 9 2008 |
| ...before next summer 2009, the US government will default and be prevented to pay back its creditors (holders of US Treasury Bonds, of Fanny May and Freddy Mac shares, etc.). Of course such a bankruptcy will provoke some very negative outcome for all USD-denominated asset holders. According to our team, the period that will then begin should be conducive to the setting up of a « new Dollar » to remedy the problem of default and of induced massive capital drain from the US. The process will result from the following five factors studied in detail further in this GEAB: • The recent upward trend of the US Dollar is a direct and temporary consequence of the collapse of stock markets • Thanks to its recent « political baptism », the Euro becomes a credible « safe haven » value and therefore provides a « crisis » alternative to the US dollar • The US public debt is now swelling uncontrollably • The ongoing collapse of US real economy prevents from finding an alternative solution to the country's defaulting • « Strong inflation or hyper-inflation in the US in 2009? », that is the only question. |
Click here for Global systemic crisis Alert — Summer 2009
The US government defaults on its debt |
U.S. Debt Escalating Military Spending — Income Redistribution in Disguise |
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Even if Obama were the greatest speaker to come along in 30 years, it still would not explain:
Why being simply a skilled speaker would cause people to say he is the greatest ‘leader’ of a generation.
Why he should be trusted to make decisions opposite to all decisions he has previously made in his life.
Why he should be trusted to bring change when he hasn’t shown change — by his voting record — of anything since he became a US Senator, or indeed changed much of anything in his 46 years.
What he has done in his life does not logically fit present perception.
In fact, the gulf between the reality of Obama and the perception of Obama is extraordinary.
Comment from Kewe:
When is the Kewe confused?
Well! Right now with the Obama issue
I had planned a lengthy remake based upon a .pdf file presently on rense.com — Hypnotic techniques Obama is using in his appearances.
But I am not sure the information given is substantive enough to state Obama is deliberately using hypnosis in his speeches.
I do not have a television — I have long realized television is more insidious than film and radio in hypnotically transferring propaganda — and I have not seen Obama give a speech.
Many articles and passing comments by people do give their surprise, querying and wonder at the reaction of people to Obama.
And then nothing Obama has done is consistent with him being a 'liberal,' which I am, liberal in the fullest sense — meaning to allow freedom to all to live their lives as they wish, so long as they don't do another physical harm.
My summation is that everything Obama has done politically is no variant from McCain or Bush or the other politicos presently controlling the US.
For me there is no choice between the two major candidates in the US election.
Both Obama and McCain are war criminals.
McCain's war crimes extend back to the Vietnam war.
Obama and McCain both vote to allow the US military to kill other people — the US military having no moral right to be in foreign lands, certainly no right to kill people.
This voting to allow funding for the US military to kill is I consider as much war criminality as Stalin, Mao and the other dictators and politicians who have engaged and some tried in — how would it best be described — enterprises such as the 'court' at Hague.
However, hypnosis is a serious matter.
I am someone who practices off-planet contact — within this context it is necessary to accept that both the brain — and inner mind that we retain as we extend from the human brain — holds pre and sub conscious depths that do affect reasoning and can be interferred with by hypnosis by space beings and humans.
Hypnosis is why I do not watch television.
Television by using electronic means, contra messages and various other techniques, acts as a pre-conditioning tool to place the mind into a hypnotic receptive state.
Scripts using hypnotic techniques via television, do manipulate people without their full awareness.
The critical factor of our analytical mind is the primary cognitive defense that stops information from seeping into the subconscious by rationally analyzing information.
The critical factor of our analytical mind keeps our subconscious fluidity from literally believing that we are a chicken when someone calls us a 'chicken.'
Keeps us from literally believing we are a square box when somebody calls us a 'square.'
Keeps us from literally believing we are a flake off of somebody's skin when somebody calls us a 'flake.'
We don’t consciously ponder the notion we are an actual chicken when someone calls us a chicken, our critical factor stops that commanding information seeping below the level of awareness — which if it did not would begin to make us act as if we were an actual chicken rather than a human.
Note how theater hypnotists cause people to perform hilarious acts.
A very small percentage of the population study subconscious manipulation.
This small but very serious group of people study how to manipulate and alter the belief structures that we as individuals build by our rational judgment, reason, and experience.
Subconscious manipulation is how to sideline in others, rational judgment, reason, experience and natural feelings, in essence how to change people’s feelings and will.
Techniques get us to absorb and believe facts that aren't facts, not by convincing us rationally, but by speaking to our subconscious mind.
An example is to emotively draw us to our family connection, our love for our children, heroes such as John F. Kennedy.
Speaking in certain rhythmic and unnaturally slow tempos will transfer deeply felt emotions into the subconscious — this can be accompanied by feelings of trust and even subservience to the person to whom we are listening.
In this use of our emotion 'buttons', the transference of the speaker's opinions also enters — the fluidity of our subconscious mind becoming modified with these opinions.
Without our knowing, feelings have become linked to the speaker's message and to the sense and validity of the speaker.
Except there is no substance, nothing but words speaking of change, nothing of how these words are consistent with previous acts.
The opposite perhaps: A reality that is to force us into a mass horrendous group state so that we — especially the youth and those minds still developing — proceed like robots chanting endless given messages.
A reality that getting angry even to the point of violence we hit out at anyone who might express disagreement.
A reality that we walk straight into an order — an order of behavior, an order of action, controlled and manipulated by a few, manipulated by both a seen and unseen elite where we, under mass hypnosis, proceed to fulfill their commands.
Both nuclear war and one-word orthodoxy are goals of a hidden small cartel of manipulators who wish terror and death for metaphysical, off-planet, demonic rewards.
Periodic elimination of chunks of the world's population is a great game to these unseen elite manipulators:
Mao's elimination of millions in China, done by a populace under extreme hypnosis.
Stalin's elimination of millions in Russia, done by a populace under extreme hypnosis.
The German mass elimination of millions.
The Cambodian mass elimination of millions.
The Rwanda mass elimination of millions.
The Vietnam mass elimination of millions by the US.
All done by populations under extreme hypnosis.
Is it to be that whomever gets into power in the US, for large segments of the populations of the West, the intended consequence is death?
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The passion people feel for Obama is real because the feeling is now buried deep inside each of them
Logical arguments against Obama become irrelevant |
In an interview with the Daily Telegraph, [French finance minister Christine Lagarde] warned that the world's hedge funds could be the next institutions to be hit by the financial turmoil.
Mrs Lagarde, a perfect English speaker, said that governments must be "vigilant" over the health of hedge funds.
"Initially everybody thought the hedge fund sector would be the first one to actually cause the collapse. They are vastly unregulated, they have been operating at the fringes, at the margin, and we need to be careful that there is no contamination effect," she said.
Her warning will send a shiver through the $2 trillion (£1.15billion) hedge fund industry, which has doubled in size in the last three years and proved to be one of the most powerful forces in the global financial system.
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Click here for Telegraph.co.uk
The “blow-up” is a mighty fall for the founders, Ivor Farman and Scott Pagel, who famously paid themselves £100m each over two years after producing stellar returns to their investors.
Christine Lagarde report Click here for Hedge Funds Gradient Capital Partners on Brink of Collapse |
| Ah! Were it only the US! Notice the strange hand signs |
Image: David Dees |
What twisted people the world
holds as leaders:
Political, Financial, Spiritual, Moral |
“Ahtisaari made a gesture on the table:
'... Belgrade will be like this table.
'We will immediately begin carpet-bombing Belgrade.
'...This is what we will do to Belgrade.
'There will be half a million dead within a week.'”
Awarded the Nobel Peace Prize 2008 |
Click here for: How the Nobel Peace Prize was Won |
Somebody mention:
Obama!
You know!
Backed by rich elite Bankers
— those who still have money! Anyone mention the two R's — Rothschilds and Rockefeller! Now I don't know where Obama is getting his funds to do all this TV persuasion from!
I don't!
Really!
Kewe |
The very same bankers and business cartels of Wall Street, who made possible —
The rise of the Soviets
The credit bubble turned Great Depression
Helped make Stalin Lite aka FDR into the defecto king of America.
These were now busy reaping their next giant windfall with the Nazis.
Nazi power was to prove a massive boom for Wall Street.
First they built up the Nazi powers, loaning them money, giving them avenues to spew their bile both in Germany and in the US and UK to a smaller extent. Click here for The Six Evils of Wall Street and the Suffering of Humanity |
Somebody mention the two R's — Rothschilds and Rockefeller! |
Examination of the charts and text in the House Banking Committee Staff Report of August, 1976 and the current stockholders list of the
12 regional Federal Reserve Banks show this same family control.
N.M. Rothschild , London - Bank of England
______________________________________
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| J. Henry Schroder
| Banking | Corp.
| |
Brown, Shipley - Morgan Grenfell - Lazard - |
& Company & Company Brothers |
| | | |
--------------------| -------| | |
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Alex Brown - Brown Bros. - Lord Mantagu - Morgan et Cie -- Lazard ---|
& Son | Harriman Norman | Paris Bros |
| | / | N.Y. |
| | | | | |
| Governor, Bank | J.P. Morgan Co -- Lazard ---|
| of England / N.Y. Morgan Freres |
| 1924-1938 / Guaranty Co. Paris |
| / Morgan Stanley Co. | /
| / | Schroder Bank
| / | Hamburg/Berlin
| / Drexel & Company /
| / Philadelphia /
| / /
| / Lord Airlie
| / /
| / M. M. Warburg Chmn J. Henry Schroder
| | Hamburg --------- marr. Virginia F. Ryan
| | | grand-daughter of Otto
| | | Kahn of Kuhn Loeb Co.
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Lehman Brothers N.Y -------------- Kuhn Loeb Co. N. Y.
| | --------------------------
µ
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8
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Lehman Brothers - Mont. Alabama Solomon Loeb Abraham Kuhn
| | __|______________________|_________
Lehman-Stern, New Orleans Jacob Schiff/Theresa Loeb Nina Loeb/Paul Warburg
------------------------- | | |
| | Mortimer Schiff James Paul Warburg
_____________|_______________/ |
| | | | |
Mayer Lehman | Emmanuel Lehman \r
| | | \r
Herbert Lehman Irving Lehman \r
| | | \r
Arthur Lehman Phillip Lehman John Schiff/Edith Brevoort Baker
/ | Present Chairman Lehman Bros
/ Robert Owen Lehman Kuhn Loeb - Granddaughter of
/ | George F. Baker
| / |
| / |
| / Lehman Bros Kuhn Loeb (1980)
| / |
| / Thomas Fortune Ryan
| | |
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Federal Reserve Bank Of New York |
|||||||| |
______National City Bank N. Y. |
| | |
| National Bank of Commerce N.Y ---|
| | \r
| Hanover National Bank N.Y. \r
| | \r
| Chase National Bank N.Y. \r
| |
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Shareholders - National City Bank - N.Y. |
----------------------------------------- |
| /
James Stillman /
Elsie m. William Rockefeller /
Isabel m. Percy Rockefeller /
William Rockefeller Shareholders - National Bank of Commerce N. Y.
J. P. Morgan -----------------------------------------------
M.T. Pyne Equitable Life - J.P. Morgan
Percy Pyne Mutual Life - J.P. Morgan
J.W. Sterling H.P. Davison - J. P. Morgan
NY Trust/NY Edison Mary W. Harriman
Shearman & Sterling A.D. Jiullard - North British Merc. Insurance
| Jacob Schiff
| Thomas F. Ryan
| Paul Warburg
| Levi P. Morton - Guaranty Trust - J. P. Morgan
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Shareholders - First National Bank of N.Y.
-------------------------------------------
J.P. Morgan
George F. Baker
George F. Baker Jr.
Edith Brevoort Baker
US Congress - 1946-64
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Shareholders - Hanover National Bank N.Y.
------------------------------------------
James Stillman
William Rockefeller
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Shareholders - Chase National Bank N.Y. |
Discover How the Rockefeller and Rothschild Families Control the US Federal Reserve Bank —
The two principal Rothschild representatives in New York, J. P. Morgan Co., and Kuhn, Loeb & Co. were the firms which set up the Jekyll Island Conference at which the Federal Reserve Act was drafted, who directed the subsequent successful campaign to have the plan enacted into law by Congress, and who purchased the controlling amounts of stock in the Federal Reserve Bank of New York in 1914.
These firms had their principal officers appointed to the Federal Reserve Board of Governors and the Federal Advisory Council in 1914.
In 1914 a few families (blood or business related) owning controlling stock in existing banks (such as in New York City) caused those banks to purchase controlling shares in the Federal Reserve regional banks.
Click here for Money Banking and the Federal Reserve |
| Of course the fact that a service economy is a natural by product of a manufacturing economy is lost on those whose education is now a deteriorating 3rd world joke with a 1st world price tag and who listen to the likes of the Communist News Network (CNN) or Faux News, both corporately owned by a small powerful and government aligned (both parties) oligarchs. |
The better historical example is the Bank Panic of 1872.
What never heard of that?
To bad, because it made the Great Depression look not so great and not as so much of a depression.
Unemployment rates hit nearly 50% from the central plains of the Russian Empire west to the gold coast of the American Empire (and yes, the US has been an empire from the day it broke away from England. An Imperial Republic but an Empire non-the-less. On this at another time).
Click here for: When doing nothing is the only smart thing
Few organizations have brought about as much evil in such a short period of time as the American institution of Wall Street.
Through truly unbridled greed and the absolute abandonment of anything that would pass for Judeo-Christian morals, Wall Street and its investment houses have brought about catastrophes and sponsored the worst despots that have ever walked the earth.
The Bolshevik Revolution
The Great Depression
Financing of Hitler and the Nazis
Click here for: Six Evils of Wall Street and the Suffering of Humanity
Click here for latest all about Russia (and the US)
mat-rodina.blogspot.com
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This refers to a linked article below on nuclear meltdown and comments on US Secretary of Defense Robert M. Gates and US Secretary of Energy Samuel W. Bodman release of "National Security and Nuclear Weapons in the 21st Century."
As neither Gates nor Bodman are members of an inner core 'illuminati' — those who seek nuclear war for metaphysical, demonic reasons — one has to wonder why the United States at this government level is proceeding with a process that could lead to annihilation of all higher life species on the planet.
Who are the enemies?
Space beings of course — those mostly outside the subjugation of human forces.
Specific reasoning has it: Nuclear Weapons do have consequences in other dimensions.
It is therefore concluded the real reason for proceeding to upgrade the present US arsenal of nuclear weapons by the US military is for this sole reason.
Be assured: 'Space Beings' and the higher technology brought to this dimension by space beings will not allow such upgrade.
It is considered to allow the process of change that is proceeding on your planet to continue.
However: "If necessary we will strip the world of nuclear weapon technology and capability to exercise such weapons and other weapons developed and being developed, completely.
The world's people will then be completely within the control of Space Beings with respect to human, physical world development and defence.
It is judged that your people would not wish this unexpected outcome."
Kewe |
Click here for: Preventing the Other Meltdown |
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For those out there who haven't yet caught on!
Oh, and every grand balance sheet comes with a trash can.
Unallocated derivatives with a notional amount of $71 TRILLION are looming over the heads of the disintegrating investment community too
In an ideal world — in which we are not — long and short derivatives would net out each other, leaving only a fraction of risk
The BIS tries to assess this net risk with a total of $14.5 TRILLION [2 Trillion higher then the annual GDP of the USA]
As a reminder, most of these contracts have been moved off balance sheets into under capitalized subsidiaries that profited from the good rating of the parent company.
But in case of a default it is this nasty, nasty huge notional amount that becomes a liability
— click here for full article and BIS figures download
Duh! Where have you been this past decade, Independent! |
A 516 trillion derivatives 'time-bomb'
Not for nothing did US billionaire Warren Buffett call them the real 'weapons of mass destruction' By Margareta Pagano and Simon Evans
Sunday, 12 October 2008
The market is worth more than $516 trillion, (£303 trillion), roughly 10 times the value of the entire world's output: it's been called the "ticking time-bomb".
It's a market in which the lead protagonists — typically aggressive, highly educated, and now wealthy young men — have flourished in the derivatives boom. But it's a market that is set to come to a crashing halt — the Great Unwind has begun.
Last week the beginning of the end started for many hedge funds with the combination of diving market values and worried investors pulling out their cash for safer climes.
Some of the world's biggest hedge funds — SAC Capital, Lone Pine and Tiger Global — all revealed they were sitting on double-digit losses this year. September's falls wiped out any profits made in the rest of the year. Polygon, once a darling of the London hedge fund circuit, last week said it was capping the basic salaries of its managers to £100,000 each. Not bad for the average punter but some way off the tens of millions plundered by these hotshots during the good times. But few will be shedding any tears.
The complex and opaque derivatives markets in which these hedge funds played has been dubbed the world's biggest black hole because they operate outside of the grasp of governments, tax inspectors and regulators. They operate in a parallel, shadow world to the rest of the banking system. They are private contracts between two companies or institutions which can't be controlled or properly assessed. In themselves derivative contracts are not dangerous, but if one of them should go wrong — the bad 2 per cent as it's been called — then it is the domino effect which could be so enormous and scary.
Most markets have something behind them. Central banks require reserves — something that backs up the transaction. But derivatives don't have anything — because they are not real money, but paper money. It is also impossible to establish their worth — the $516 trillion number is actually only a notional one. In the mid-Nineties, Nick Leeson lost Barings £1.3bn trading in derivatives, and the bank went bust. In 1998 hedge fund LTCM's $5bn loss nearly brought down the entire system. In fragile times like this, another LTCM could have catastrophic results.
That is why everyone is now so frightened, even the traders, who are desperately trying to unwind their positions but finding it impossible because trading is so volatile and it's difficult to find counterparties. Nor have the hedge funds been in the slightest bit interested in succumbing to normal rules: of the world's thousands of hedge funds only 24 have volunteered to sign up to a code of conduct.
Few understand how this world operates. The US Federal Reserve chairman, Ben Bernanke, tapped up some of Wall Street's best for a primer on their workings when he took the job a few years ago. Britain's financial regulator, the Financial Services Authority, has long talked about the problems the markets could face on the back of derivative complexity. Unfortunately it did little to curb the products' growth.
In America the naysayers have been rather more vocal for longer. Famously, Warren Buffett, the billionaire who made his money the old-fashioned way, called them "weapons of mass destruction". In the late 1990s when confidence was roaring in the midst of the dotcom boom, a small band of politicians, uncomfortable with the ease with which banks would be allowed to play in these burgeoning markets, were painted as Luddites failing to move with the times.
Little-known Democratic senator Byron Dorgan from North Dakota was one of the most vociferous refuseniks, telling his supposedly more savvy New York peers of the dangers. "If you want to gamble, go to Las Vegas. If you want to trade in derivatives, God bless you," he said. He was ignored.
What is a Derivative?
Warren Buffett, the American investment guru, dubbed them "financial weapons of mass destruction", but for the once-great-and-good of Wall Street they were the currency that enabled banks, hedge funds and other speculators to make billions.
Anything that carries a price can spawn a derivatives market. They are financial contracts sold to pass on risk to others. The credit or bond derivatives market is one such example. It is thought that speculation in this area alone is worth more than $56 trillion (£33 trillion), although that probably underestimates the true figure since lax regulation has seen the market explode over the past two years.
At the core of this market is the credit derivative swap, effectively an insurance policy against the default in the interest payment on a corporate bond. One doesn't even need to own the bond itself. It is like Joe Public buying an insurance policy on someone else's house and pocketing the full value if it burns down.
As markets slid into crisis, and banks and corporations began to default on bond payments, many of these policies have proved worthless.
Emilio Botin, the chairman of Santander, the Spanish bank that has enjoyed phenomenal success during the credit crunch, once said: "I never invest in something I don't understand." A wise man, you may think.©2008 Independent Digital (UK) Ltd. All rights reserved |
"One bank to rule them
One bank to bind them..." |
| Date | Country | Financial Institution Failed | Rescue Plan |
| Sept 2007 | UK | Northern Rock | Rescued by the British Treasury and Bank Of England |
| Jan. 2008 | US | Countrywide | Sold to Bank of America in stock |
| March 16 | US | Bear Stearns | I P Morgan Chase took over, the FED guaranteed $29 billion |
| July 11, | US | Indymac | FDIC took over |
| July 14 | Spain | Alliance & Leicester | Bought by Santaner |
| Sep 7 | US | Fannie mea and Freddie Mac | US government gave $100 billion each and guaranteed about 5.3 trillion of their debt |
| Sept 8 | UK | Derbyshire and Cheshire Building Societies | Nationwide took over both banks |
| Sep 15 | US | Lehman Brothers | Filed for bankruptcy |
| Sept 15 | US | Merrill Lynch | Sold to Bank of America in stock |
| Sep 17 | UK | HBOS | Sold to Lloyds TSB for 12 bl. pounds |
| Sept 17 | US | AIG | US government gave $85 bl. in exchange for 80% public ownership. Later received $37 bl. more. |
| Sep 21 | US | Goldman Sachs and Morgan Stanly | Got approval to become regulated bank holding companies |
| Sep 25 | US | Washington Mutual | Took over by FDIC, J P Morgan bough its deposits for $1.90 |
| Sept 28 | UK | Bradford and Bingley | rescued by UK Treasury |
| Sep 29 | US | Wachovia | Initially Citigroup wanted to buy Wachovia’s banking operation for $2. Later Wells Fargo bought it for $15.1 bl. |
| Sept 29 | Belgium | Fortis | BNP Paribas bought 75% and Governments of Belgium, Netherland, and Luxemburg threw 11 bl. euro lifeline to the bank |
| Sept 29 | Germany | Hypo Real Estate | Rescued by Germen Government |
| Sept 29 | Denmark | Roskilde Bank | Bailed out by Danish Central Bank |
| Sep 30 | France | Dexia | Bailed out by French government for 6.4 b. euro |
| Oct 3 | US | Various banks | House and Senate voted on $700 b. for purchase of banks’ bad debts by the US treasury |
| Oct. 4 | Italy | UniCredit SpA | Needed to increase capital, No plan yet |
| Oct. 8 | Iceland | Kaupthing, LandsbBanki and Glitnir | Government of Iceland took over the banks |
| Oct. 9 | Ireland | Anglo Irish Bank | In process of being taken over. |
| Oct 10 | Japan | Yamato Life Insurance | Filed for Bankruptcy |
|
The Unfolding of the Global Financial Crisis
SOLUTIONS
You know!
Disposition of a problem |
Monetary stimulus is not warranted.
Instead, massive government investments in public infrastructures and mass transit are needed.
A progressive income and wealth tax must be imposed on the upper income stratum to redistribute income to underprivileged strata.
Also, a universal national health care program is needed to cut cost and make health care affordable for all.
The United States perhaps should adopt a variant of the European social model such as those that exist in the Scandinavian countries.
Furthermore, the unpopular war in the Persian Gulf region has to stop.
The United States has now reached to a position of financial distress that no longer can afford to engage in major military conflicts for economic conquest. Click here for Akbar E. Torbat article |
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One has to add:
The United States must declare bankruptcy
It's going to happen, folks
All those billions, trillions of electronic US zeros out there in the world!
At least the hundred dollar bills will be good for paper to take to the crapper
Get it over with!
Kewe |
| US NavyEvil Blue Angels |
| If you vote for McCain or Obama, you're voting for a war criminal |
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OCTOBER 05, 2008
Perverse Priorities in a World of Lies
In many essays, I've talked about the immense difficulty of trying to discuss any issue of genuine importance in today's cultural atmosphere.
Among the primary reasons for the near impossibility of talking about any subject that actually matters is the fact that the overwhelming majority of people are entirely comfortable existing on a steady diet of lies — lies about the genuine nature of the U.S. government's actions, lies about "the good guy" American, lies about the ruling class, lies about racism as a core element in America's history... the lies are endless, and most people swallow all of them.
Almost no one in national political life, and almost no writer of prominence, will acknowledge the full meaning of the U.S. invasion and occupation of Iraq: because Iraq never constituted a serious threat to the U.S., and because that fact was readily apparent in the winter and spring of 2002-2003 (even to an honest citizen with no "expert" specialized knowledge), the U.S. invasion was a criminal act of aggression, identical in principle to Nazi Germany's invasion of Poland.
This foundational fact has many further implications, and one of them is critical in evaluating the two major presidential candidates: since the invasion was a criminal act of aggression, the U.S. occupation of Iraq is similarly an ongoing series of monstrous war crimes.
To vote to fund the continuing occupation is to be an accomplice to genocide and to the destruction of an entire nation and its peoples, and thus to be a war criminal.
Most Americans who vote this November, and probably many of you reading this, will vote for one of these war criminals.
I no longer care what rationalizations people use to justify such a detestable choice — that one war criminal is not quite as bad as the other for some unspecified reason, that one of these bastards speechifies more prettily than the other and touches some inchoate, indefinable emotional chord in your stunted soul, that (as a friend recently observed to me privately, in condemning this version of the excuse) we've had white assholes governing this country for so long that it's only 'fair' to have a black asshole in charge for a change.
I don't give a damn what reason you give yourself for your embrace of evil, for only one fact matters:
If you vote for McCain or Obama, you're voting for a war criminal.
posted by Arthur Silber
to read complete comments by Arthur Silber click here
for Once Upon a Time... main page click here |
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Never mind that almost every word they speak is a lie
Never mind the lives they so heedlessly and criminally throw away, as they eagerly pay for a military that will rip apart the bodies of more than a million innocent people
But you can comfort yourselves with the pretty words and the empty phrases, as the flames engulf us and we drown in blood
Arthur Silber |
| As for Obama and Biden they are swimming in blood, and none of their supporters seem to mind that to any noticeable extent. And they speak so well! |
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How Long Before the Dominos Begin to Tumble?
Les Visible
September 22, 2008 |
Can anyone doubt that the time is at hand!
It’s funny how everything from Biblical prophecy to the Mayan Calendar; everything from sources channeling The Cassiopeans to those channeling The Pleiadians; everything from rational atheists to practicing metaphysicians all say some day is just about now.
Economists (who aren’t lying sacks of shit) say so.
The same liars go on from one day to the next cosmeticizing this hyena culture while they loot the till.
Worst gangs of organized psychopaths that we have ever seen
Who’s to blame?
Well... there are several culprits:
The deregulation junkies whose sole purpose is to allow corporations to rip off the public under the banner of free enterprise.
The ‘greed is good’ crowd — all of the Ayn Rand, “Me first, you later... maybe” contingent.
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The black wash of materialism across the globe, the ‘gospel of wealth’
Religious hypocrites who like to paint sugar water under the eyes of starving black children for their photo-op moments holding these kids on their laps (in their spanking new Banana Republic Safari outfits) in the hope of squeezing money out of the ordinary Nimrods who put their faith in these jerks and who contribute to hunger porn.
The generally bone dead stupid — ‘go along to get along’ public.
And sundry reptiles
And certainly the Zionist controlled media
And certainly the Zionists themselves who are one of the worst gangs of organized psychopaths that we have ever seen.
Will the solutions offered by Secretary Paulson heal the bleeding?
Will Secretary Paulson, who is criminally complicit in the very crimes that brought this about, ride in on his lame horse with his paunchy frame suited up in his Lone Ranger outfit save America from default?
No... He won’t.
What are these conscienceless swine also up to?
They’re working out the final plans for the next Mossad/C.I.A. false flag attack as they step by step frog march from Yemen to the Islamabad Marriot and on to the big one by stages and degrees.
These vampire pigs are tacking into the wind in their last desperate efforts to screw everything up while they lay hold of all the devalued properties and assets that are now in fire sale mode because of conditions they set into play for just that reason.
And they are going to get a spanking the like of which has not been seen in a long time but I can’t talk about that here.
Just mosey on over to Visible Origami in the next few days for the Central Command posting.
Let a pack of vicious weasels rape and pillage at will
It’s amazing isn’t it?
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You take off the controls and let a pack of vicious weasels rape and pillage at will, get their asses into trouble and then... then ‘we the people’ bail them out at our expense because it’s for the greater good of all.
The public whippings and humiliations so well deserved by these blood-stained clowns is nowhere in evidence.
Tune in next week to hear what heroes they all are.
Senator (I can’t remember my name)
Meanwhile, Senator (I can’t remember my name) McCain is giving one of the best impressions of a Tom Fool idiot that I have ever seen.
He thinks nothing of embarrassing himself day after day.
Sooner or later the air in his head is just going to give up and it will hang down on his chest like a flaccid prophylactic that got blown up at a neighborhood sex toy party....
Tupperware just doesn’t have the same attraction anymore in mainline America.
Obama’s team is playing it cool.
All they have to do is just let McCain self-destruct.
And very shortly a lot of Palin’s dirty laundry is going to be hanging out on the international clothesline.
However, Obama has kneeled before the Zionists and offered them his hindquarters so we’ll have to see if he can snatch himself upright should the reins of power fall to him.
One thing America must do is cut Israel loose.
It is a menace and an abomination and a lot of America’s present difficulties can be traced there, one way or the other.
Who would have ever thought that Russia would be the good guys?
Major, strategic kudos to them for finessing the balance of powers game and embracing everyone who doesn’t like the neo-con, mad dog ballerina act — and that’s a whole lot of nations around the world.
You think things are bad now?
You have to realize that quite some numbers of the players are clinically insane.
They don’t know the meaning of reason or fair play.
They want to own the world and enslave the world’s population.
That’s a simple conclusion that can be arrived at with little difficulty.
It’s a funny thing about the arrogance of power.
It robs you of your good sense and leaves you exposed and vulnerable to all sorts of things you didn’t expect.
Don’t stand up and call for their heads — that bravery is beyond you
I’ve said it before and I will say it again — the worst thing about this is the millions of people who bought into the lie and who are going to be sucked down with the ship.
Ignorance is bliss only when the consequences have not yet arrived on the scene.
You go right on trusting the fools who got you into this mess.
Don’t stand up and call for their heads.
That bravery is beyond you and it’s probably because the loss of bravery is directly connected to the loss of integrity.
It’s all the little corruptions that make the big corruptions possible.
It’s the way the prevailing philosophy trickles down into the lives of the people that accounts for the fatal blindness that you now endure.
It’s probably always been on the way because it is human nature to take the easy road as if there ever were an easy road.
Fiat currency game
This present debacle can be traced back to the reinstitution of the Federal Reserve and the country’s money masters and to the fiat currency game.
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These snakes have all got their bolt holes.
They’ve got their bunkers and the gold and they’re just going to be safe and tidy and warm when the cold wind of destiny sweeps around the world.
Not this time though.
This time is going to be different I do believe but we shall see.
When you have good laws that serve the public interest you can count on stability and security.
When those laws can be altered at the whim of those who can employ profit-junkie lawyers to manipulate the landscape of justice for the benefit of the few then you really don’t have any good laws left.
The highest court of the land is a pack of whores
They ably demonstrated that in 2000 when they changed the definition of justice in a permanent way.
When one of the chief justices can freely associate with one of the chief architects of these crimes against the people then you’ve got what you got today.
You got nothing.
Your pensions are evaporating.
Your health care is a joke.
Your streets are filled with a generation of vipers so self absorbed that all they can hear any more is coming out of their ipods.
Judgment is coming folks and I don’t think it matters where you think that judgment is coming from.
From some divine agency or just the consequence of stupid, self interest where the numbers do what numbers do.
No matter what you may believe or not believe you surely know that there is balance in the world and when it goes missing it will adjust itself no matter where you are standing and without a thought for you.
I can’t within the medium of words, adequately convey what I am trying to say but that doesn’t matter either.
Nothing I or anyone says is going to have any effect on what is in front of you.
You have better wake up.
Something New
© 2008 Les Visible
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ANYONE BUT DEMOCRATS AND REPUBLICANS |
| Canada, US, Western rogue governments — War crimes continue |
Afghanistan hit by record number of bombs
Bruce Rolfsen, Air Force Times
July 19, 2008
Air Force and allied warplanes are dropping a record number of bombs on Afghanistan targets.
For the first half of 2008, aircraft dropped 1,853 bombs — more than they released during all of 2006 and more than half of 2007’s total — 3,572 bombs. |
Western Terror States: Canada, US, UK, France, Germany, Italy Photos of Afghanistan people being killed and injured by NATO |
Cluster bombs Iraq, Afghanistan, Lebanon US new generation of landmines called Spider |
| IraqAlmost a million dead4 million displaced, scattered into other countriesUntold injuredHorror of US UK invasion continuing |
Basra, Fallujah, Baghdad, Mosul... US created Iraq — devastated cities They are such liars |
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EndGame — Alex Jones, you have done the world a great favor
It has taken me until now to view this great masterpiece that chronicles the planet's true history
But I am glad for this delay as my awareness of reality, and the events that seemingly must unfold to educate humankind, have come from sentience off planet — now with this movie the circles merge
A movie par excellence, it will likely be considered the most significant in the downfall of the rich and powerful who control the world and rising politicians already in their pocket — the imprisonment of all those who seek to bring forth this horror, this enslavement of 'New World Order'
Kewe
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| The aim of TheWE.biz is to make us all aware that the most murderous violence and terror by far, committed by anyone, is done by The West
Violence and terror is the footprint and modus operandi of Western Government and the shadow power that operates from behind these 'elected officials'
This film helps us to focus on that reality
Indonesia's 9/11 — Exposing US government operations in the Bali Bombing
Kewe |
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 Archives only for We The People Radio Network |
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Questioning War, Organizing Resistance — Carol Brouillet Glen Clancy, from Victoria, Australia, created "Fool Me Twice" described as 'A documentary about the Australian government's lies about the East Timor massacres, the cover-up of the Bali Bombings and subsequent anti-terror laws.' The 25 year old, Clancy is Australia's Dylan Avery (of Loose Change fame). The work was originally created to be viewed online, but Clancy is working on improving the resolution for larger screen and theatrical viewing. Glen wrote (at the Fool Me Twice Blog on December 4, 2008)
To all,
After discovering 911 was an inside job, through such movies as Loose Change, Terrorstorm and Zeitgeist, I decided to investigate the Bali bombings. The evidence was overwhelming. There had been a cover-up.
As shocking as the truth may be, please keep an open mind while viewing this documentary. FOOL ME TWICE is 100% sourced. Please see reference list below. I tried to produce a documentary as true to the genre as possible, limiting opinion and simply documenting the facts.
I believe that 911 Truth is one of the most important movements of our time and exposing the cover-up of the 2002 Bali bombings can help destroy the "911/War on terror/Al-CIAda" myth.
Please help spread this information.
Kind regards,
Glen
To listen to the March 10, 2008 interview of Glen Clancy by Carol Brouillet broadcast on:We The People Radio Network — Right Click Here (Save Target As, Link As, File) MP3 1 hour
Americans are politically paralyzed by both cognitive dissonance and by what psychologists call “learned helplessness,” the result of years of having one outrage after another foisted upon them, without there ever being any real accountability.
So, as many truthers have discovered, the most common reactions of average Americans, when presented with the facts of 9/11, are either, “My government would never do that,” or, “Okay . . . but what can anybody do about it?”
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Before that he was with the City of Sacramento as a Firefighter Paramedic.
He first began working in Emergency Services in 1988 in the Sacramento area with a 911 private paramedic ambulance company.
He has 20 years experience in Emergency Services.
He earned my pilot's license in 1987, and have been recreationally flying since.
He graduated with a Bachelor's of Science in Mathematics from the University of California at Davis in 1993, with 2 years of elective Engineering courses, and a Minor in Psychology.
Erik wrote a moving account of his own shift in consciousness regarding 9/11 which prompted him to start Fire Fighters For 9/11 Truth entitled: MAYDAY...MAYDAY...MAYDAY.
Here's an excerpt:
I, like most Americans, remember exactly where I was when I saw the attacks and had the overwhelming urge to take action.
I was shocked, outraged, scared and confused.
I called my Battalion Chief and asked if Seattle would be sending any teams to help.
I was a member of the MMST, and figured we would be needed and I wanted to know where to report.
Due to the nature of the incident we were not called up, and instead USAR teams, including Seattle's, were sent.
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I first visited Ground Zero in October of 2001 with several firefighters from Seattle.
We went to pay our respect and show support.
We raised money for our brother firehouses and attended the funerals of our fallen Brothers.
I was deeply moved and humbled by the community support, the sheer enormity of the tragedy along with the courage and compassion of the FDNY "Brotherhood."
I vividly remember the anger, the intense desire for vengeance,the feelings of helplessness
Even though I listened to their stories for days, I cannot even begin to imagine the pain and tragedy they suffered on that day and the years to come.
I vividly remember the anger I felt, the intense desire for vengeance, and the feelings of helplessness.
I was relieved when the government identified the terrorists and satisfied that we were going to have a swift deliverance of "justice."
I've been a conservative my entire life; a registered Republican since I could vote.
I am a self proclaimed Patriot with George Washington as one of my all time heroes.
So when conspiracy theories quickly surfaced, and "Liberals" cried foul on the erosion of civil liberties, I chalked it up to their political beliefs and bitterness towards the Republican President.
I read many debunking articles — including Popular Mechanics — and watched many debunking videos including, Farenhype 9/11.
I was convinced that these "Liberals" were misinformed and were grasping at straws to discredit the "official" story.
Don't confuse me with the facts, I have my mind made up!
Like most people with strong opinions, instead of looking at all the facts, I was specifically looking for anything that supported my own beliefs.
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As soon as I discovered any inaccuracy in a conspiracy claim, I wrote it off.
My father, a big city cop and Korean War veteran, loved to say, "don't confuse me with the facts, I have my mind made up!"
Well, I had my mind made up.
I told conspiracy theorists like my own Truck Officer, Lt. Earl Emerson, that they were insane if they thought anyone other than the terrorists did this.
Bin Laden confession tapes — how much clearer did they need it
Heck, we have ID cards, security camera videos, Bin Laden confession tapes — how much clearer did they need it?
The years went on and I was satisfied in my beliefs.
I even believed these "Wackos" that doubted the "official" story were distracting our country from focusing on the real threat of terrorism...
Fast forward to March of 2008.
A great friend of mine with a Business degree from West Point, as conservative and non-conspiratorial as they get, came over one night to talk about what he saw happening in the economy.
Began researching such things as economies, who is in control of currencies
He provided some disconcerting evidence that we as a nation are at risk of entering into another depression; he pointed out historical parallels where other countries, such as Germany, suffered economic collapse.
THAT was my eye opener.
I became obsessed researching things such as economies, who is in control of currencies, what causes depressions, who profits during war, etc.
So many things kept pointing to 9/11.
Another one of my dad's favorite quotes was, "believe half of what you see and none of what you hear."
So, I looked at both sides and quickly noticed a pattern.
On one side, the general media ignores some of the most compelling evidence that contradicts the "official" story...
When I voiced my new opinion and concerns most of my friends listened.
Shocked that a staunch Conservative could have such a major shift
I think because they were shocked that a staunch Conservative could have such a major shift, or because they thought I had lost my mind and wanted to diagnose the cause.
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Curiously, some became angry at my new questions and actually thought I was supporting Terrorists with my concerns.
Being a part of that same mindset myself only a few weeks ago, and then having a major shift in consciousness, really shook me to the core.
What has happened to our collective consciousness that we believe anyone who doubts the "official" story or what the government tells us is an enemy?
What has happened to us — are we not founded on Freedom of Speech and taught to check our Government?
Anyone who asks for the Truth is labeled a "Wacko" or "Terrorist Sympathizer?"
What has happened to us?
Are we not founded on Freedom of Speech and taught to check our Government?...
To be honest, I was asleep at the wheel, and relied on what I was being told by mainstream media.
The same media whose parent corporations, are some of the largest suppliers of weapons in this war.
Before this "awakening" I had no idea the extent of our civil liberties that had been eroded in the name of Terrorism.
I had never really wrapped my brain around what legalized torture means.
I had always claimed America was noble.
Just look at how we treated POW's during WWII and Vietnam compared to our enemies.
[Ever check out the real story of John McCain as a POW, keep investigating! — TheWE.biz]
That separated us.
We were setting the example of Human Rights to the rest of the world.
[Check out the real facts of US instigations in Central and South America! — TheWE.biz]
Sure, you'll always have individuals that will take things too far, but Government sponsored torture?
[Let's mention CIA activity across the planet since its inception, including inside the US, and other black budget US government special operations agencies! — TheWE.biz]
What has happened to our country?
What kind of example are we setting for our children, and the world?
You would be interested to learn how many of our own rights have been stripped away recently.
Look up the Military Commissions Act of 2006, John Warner Defense Authorization Act, Homegrown Terrorism Act, Presidential Directive 51.
Amazing the rights we have all lost
It is amazing the rights we have all lost in the past couple of years and very little is covered by the U.S. media.
After discovering this, I applied the "common sense" test that my Grandfather always said wasn't so common.
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Why would a government so aggressively suppress truth and blatantly destroy evidence if there was nothing to hide?
Why has every testimony from sworn government and military officials that points to "prior knowledge" been stricken from the 9/11 Commission Report?
How did paper business cards, cloth bandanas, and plastic ID's that implicate the terrorists survive so neatly through jet fueled fireballs hot enough to destroy titanium and steel?
I've seen bodies burned beyond recognition, yet I have never found one that was wearing unburned clothing.
These questions alone are enough to make me risk everything for a real investigation and accounting...
When I truly realized the enormity of the effect 9/11 has had on our Rights, our Economy, our Beliefs, our Fears, our Intolerances and our Government — I felt fear, then anger, then the need to take action.
Bill Chickering said it best:
“Anger is a very appropriate and necessary response to an injustice.
“But stand back now; the truth, clearly spoken, is always your best weapon.
“Calmly spoken, it can burn a hole through the hardest heart.”
When I realized the extent of the force and attitudes working to silence those who peacefully ask questions, demand answers, and seek truth, it became clear to me that our Country is in serious trouble and I must now stand alongside those Patriots who seek Truth and Constitutional Restoration.
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Richard Gage, AIA is the founding member of Architects and Engineers for 9/11 Truth ae911Truth.org.
He has been a practicing Architect for 20 years and has worked on most types of building construction including numerous fire-proofed steel-framed buildings.
He is employed with a San Francisco Bay Area architecture firm and has most recently performed Construction Administration services for a new $120M High School campus including a $10M steel-framed Gymnasium.
Currently he is working on the Design Development for a very large mixed use urban project with 1.2M sq.ft. of retail and 320K sq.ft. of mid-rise office space — altogether about 1,200 tons of steel framing.
He has been one of the most tireless speakers on the issue of 9/11 truth, and more specifically on challenging the official narrative of the disintegration of the 3 major skyscrapers in the World Trade Center complex that took place on September 11th.
He has been lecturing widely across the US and in Canada.
Those who see his presentation rarely walk away still thinking that fires alone could have brought down the buildings.
When NIST came out with a report recently that fires were responsible for the destruction of WTC7, Richard and Architects and Engineers were quick to challenge that report.
See NY Times quotes Richard Gage on WTC7 "collapse"
Aside from the NYT's reporter and a media request from Bulgaria, the press has tried to ignore the serious criticisms that Architects and Engineers for 9/11 Truth has raised about their reports.
Richard Gage gives an insightful interview on major points that scientifically do not agree with the official story of 9/11.
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 | Click logo for Firefighters for 9-11 truth |
| Click logo for architects & engineers for 9/11 truth |  |
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For Film: Elephant in the Room
— Click Here
Elephant in the Room is a documentary following British filmmaker Dean Puckett through his journey into the 9/11 Truth Movement: a global movement of 'conspiracy theorists' who believe that the official explanation about what happened on 9/11 is totally or partially inaccurate.
The filmmakers travel from middle England, across Europe and to New York for the six year anniversary of the attacks, where the film takes one final twist as we are introduced to the 9/11 first responders who are suffering from various grave health difficulties due to the toxic dust that they breathed in trying to help their country during the weeks after this tragic event.
Told with a personal hands on approach that avoids advancing any one position, the film asks the question: are these crazy conspiracy theorists?
Or is 9/11 Truth a credible political movement?
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For Film: Loose Change Final Cut
— Click Here
Loose Change Final Cut is the third installment of the documentary that asks the tough questions about the 9/11 attacks and related events.
This movie hopes to be the catalyst for a new independent investigation, in which the family members receive answers to their questions, and the TRUE PERPETRATORS of this horrendous crime are PROSECUTED and PUNISHED. |
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9/11
By all accounts, the unprecedented events of September 11th, 2001 changed the way our country functions, and in turn, the world.
It is therefore critical that conscientious Americans, as well as people around the globe, understand these events in detail.
Unfortunately the official reports, including The 9/11 Commission Report and the NIST WTC Report, written by those working under the direction of the Bush Administration, have been proven to be elaborate cover-ups.
Film: 9/11 Revisited
September 11th Revisited is perhaps the most riveting film ever made about the destruction of the World Trade Center.
This is a powerful documentary which features eyewitness accounts and archived news footage that was shot on September 11, 2001 but never replayed on television.
Featuring interviews with eyewitnesses & firefighters, along with expert analysis by Professor Steven E. Jones, Professor David Ray Griffin, MIT Engineer Jeffrey King, and Professor James H. Fetzer.
This film provides stunning evidence that explosives were used in the complete demolition of the WTC Twin Towers and WTC Building 7.
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For Film: 9/11 Revisited
— Click Here
Film: 9/11 Press for Truth
An excellent documentary about the families of the victims of 9/11 and their fight to uncover and expose the truth about what happened that day.
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For Film: 9/11 Press for Truth
— Click Here
Film: 9/11 Mysteries
90 minutes of pure demolition evidence and analysis, laced with staggering witness testimonials.
Moving from “the myth” through “the analysis” and into “the players,” careful deconstruction of the official story set right alongside clean, clear science.
The 9/11 picture is not one of politics or nationalism or loyalty, but one of strict and simple physics. How do you get a 10-second 110-story pancake collapse?
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'Oh! You don't believe the 9-11 official version,' they say.
'You mean where they want you to accept the buildings were not blown up from below.
'Plane fuel! Substance never burns higher then a gas stove! That it caused the inner core steel to melt!
'Steel melting!
'Concrete vaporizing!
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'No! I don't believe that conspiracy theory.
'Cheney! Bush! Rudy Giuliani! HA! HA!
'Tower 7 that never had a plane hit — just came tumbling down!
'You believe that, eh!
'Ever think it had to be blown up because the plane scheduled to fly into it was off getting shot down.
'Thermite in Tower 7's walls, you see — incriminating evidence — impossible to get out without people watching!
Had to be blown up!
'Next you'll be saying Obama is not a Wall Street Illuminati banker stooge?
'Take your pick: The partner in a comedy team who feeds lines to the other comedians.
'Him who allows himself to be used.
'Oh! I can't really blame you, Television it turns minds to pulp.
'Turn off the television. It's the only way.'
'Turn off the television?'
'Get rid of it really. I mean what else is there to do!'
'Get rid of the television?'
'Don't forget all radio garbage is propaganda, even the songs.
'Then those five minute propaganda hits they send you every hour!
'The ones they refer to as News
'Get rid of all the propaganda from your brain, the only way to do it.'
'Stop being hooked on those Hollywood movies — even those that make you think they are making you think'
'All paid performers to make your brain dead.
'You turn the brainwashing off, you'll begin to become yourself.
'It really is the only way!'
'Oh!'
Kewe — TheWE.biz
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| Click logo for Firefighters for 9-11 truth |
| Click logo for architects & engineers for 9/11 truth | |
The War On Democracy is a powerful new documentary from award winning journalist and film-maker John Pilger.
Pilger interviews several ex-CIA agents who purportedly took part in secret campaigns against democratic countries and who he claims are profiting from the war in Iraq.
The film uses archive footage to show how democracy has been wiped out in country after country in Latin America since the 1950s.
The Venezuelan segment of the film features the President of Venezuela Hugo Chavez being captured in the coup of 2002, a takeover backed by rich and powerful interests under U.S. support. |
Humankind as we know it at the 'End Point'
Don't forget:
Behind it all is the desire for depopulation — by those rich enough to have their islands for temporary residence while depopulation takes place.
Doesn't matter if it is killing in the fight for food when the trucks no longer arrive at your local supermarket.
Doesn't matter if it is tribe against tribe.
Or thermobaric bombs — environmentally friendly compared to nuclear. Bombs that send ultra-sonic shock waves and searing fireballs to destroy everything in their dropping wake.
Or those special bombs that do not destroy the infrastructure — kill only you and those you love.
You are in the way, folks!
There are too many of you!
This is the plan.
Kewe |
Twenty Questions Radio/TV interviewers avoid asking about Israel Which parts of the Declaration of Human Rights and Geneva Conventions don't Israelis understand? Why is Israel still stealing Palestinian land for more illegal construction? |
Israel, chemical weapons and phosphorous bombs New and unknown deadly weapons used by Israeli forces Undetectable poison-needle gun for 'clean' assassinations |
The Negative Return Economy — a discourse on America’s black budget Fascinating and lucrative Black Budget? What Black Budget? |
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Unspeakable grief and horror
...and the circus of deception killing continues... | |||
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| Kewe Archives | TheWE.biz | The Poles |
I moved all my money out of the stock market and into cash about four months ago, when I noticed the Korean won starting to slip on the exchange rate.
