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Posts Tagged ‘wall street’

The Hunt for MF Global's Missing $700 Million

Posted by Admin on November 1, 2011

http://news.yahoo.com/hunt-mf-globals-missing-700-million-133012682.html

By Rebecca Greenfield | The Atlantic Wire – 2 hrs 43 mins ago

MF Global, headed by former New Jersey Senator and Goldman Sachs CEO Jon Corzine, filed for bankruptcy yesterday, but reports that $700 million is missing has spooked creditors and others on Wall Street, reports DealBook’s Azam Ahmad. Best case scenario, the “missing money” is just sloppy “internal controls,” but worst case scenario, the financially unstable MF Global diverted customer funds to back its own trades. Either way, the news has made MF Global’s chance for survival dim, report DealBook’s Ben Protess, Michael J. De La Merced and Susanne Craig. “Customers’ funds must be kept separate from company money,” they write. “One of the basic duties of any brokerage firm is to keep track of customer accounts on a daily basis.” For now, neither Corzine or MF Global have been accused of anything, but the firm has been suspended from trading on the London Mercantile Exchange and futures market CME Group, reports the San Francisco Chronicle.

Yesyerday the market closed down 276 points, on fears that the trouble at MF Global would spread to other firms, explains Ahmad. “With MF Global filing for bankruptcy on Monday, investors pummeled many financial stocks, fearful that problems were lurking on the books of other Wall Street firms,” he writes. “It was a crisis of confidence, not unlike in 2008 when the markets punished stocks on mere speculation of trouble.” But it might not be as bad as 2008, MF Global’s rocky status didn’t have the same effects as the Lehman Brothers debacle, explain The Wall Street Journal‘s Mike Spector, Jacob Bunge and Aaron Lucchetti. “The ripple effects from MF Global’s collapse were far less dire, though customers and traders who buy and sell stocks, commodities and other investments through the New York company scrambled to move their business elsewhere.”

Posted in Economic Upheavals | Tagged: CME Group, goldman sachs, Jon Corzine, Lehman Brothers, MF Global, New Jersey, wall street, Wall Street Journal | Leave a Comment »

Then They Fight You

Posted by Admin on October 28, 2011

http://www.truth-out.org/then-they-fight-you/1319744739

Friday 28 October 2011

by: William Rivers Pitt, Truthout | Op-Ed

#OccupyOakland protesters after their camp was destroyed by Oakland police along with ten neighboring police departments. Several hundred protesters regrouped at the intersection of 14th and Broadway where police tried dispersing the crowd with tear gas, flash bang rounds, rubber bullets and bean bag shots. (Photo: ekai)

The national standoff between authorities and protesters in the ‘Occupy Wall Street‘ movement has reached a new and dangerous level of tension and violence.

At first glance, it looked like something out of Pink Floyd’s film ‘The Wall’: menacing images ofcreatures in gas masksswarming toward the camera under a dark and forbidding sky. This was no dystopian fantasy, however; these were members of the Oakland police departmentcharging into a group of protesters behind a wall of tear gas, flash-bang bombs, rubber bullets and bean-bag projectiles. The police bull-rushed these unarmed protesters with the intention to do violence, and violence is exactly what they did.

As of this writing, one woman is known to have been seriously injured when a flash-bang grenade went off right by her head. She was seen being carried away unconscious from the scene of the police riot by other protesters. Anther known injured protester has a name, and a face, and a record of service to his country. Scott Olsen, a Marine veteran of two Iraq tours, was participating in the Occupy Oakland protest when he was shot in the head by a ‘less-than-lethal’ police projectile, suffered a fractured skull, and was taken to the hospital in critical condition. He has since been upgraded to fair.

Welcome home, Marine. Thank you for your service to your country, but since you dared to exercise your First Amendment right to peaceable assembly, here’s a cracked head for your trouble. And you thought Iraq was dangerous.

According to Oakland officials, the justification for this eight-hour-long explosion of force was that the area being occupied by protesters had become unsanitary, and that people were being raped within the camp zone. This was news to those who had been peacefully occupying the space in front of Oakland’s city hall. It sounded suspiciously familiar to some last-decade claims about weapons of mass destruction being justification for a different burst of violence, and smells just as bad. The extreme nature of this police action might have had more to do with the fact that the protester’s camp was unofficially named Oscar Grant Plaza, after the unarmed citizen who was murdered in 2009 by Oakland transit police, an incident that was caught on camera and broadcast to the world. Maybe the Oakland police did not like the reminder, and so swung their truncheons with an excess of vigor.

This is not the first example of excessive violence being directed at protesters in the ‘Occupy Wall Street’ movement. A number of incidents directed at unarmed, non-resisting protesters in New York City have been documented in detail, and in one case, an official inquiry into one NYPD officer’s use of pepper spray is ongoing. The scene that played out in Oakland could very well have taken place several days ago in New York, had Mayor Bloomberg not made the wise, last-minute decision to back down from his demand that Liberty Park be cleared of protesters so it could be “cleaned.” A number of protesters were injured by police in San Francisco and Denver, as well.

What happened in Oakland in the hours between Tuesday night and Wednesday morning, however, is a definite escalation of tensions between protesters and authorities, and seems to indicate those authorities are edging closer and closer towards unleashing the dogs of war on people who offer no violence and pose no threat to anyone other than the financial power-brokers who have so thoroughly ravaged this country’s future.

It goes without saying that not every person participating in these national actions are docile lambs; every movement, no matter its political denomination, is going to have its share of idiots and adrenaline-junkies. Within the ‘Occupy Wall Street’ movement, however, these types of people make up so small a fraction of the main as to be negligible…but they do offer authorities a nice excuse to bulldoze the whole movement, and it makes you wonder how many of these so-called agitators are running around causing trouble with a badge in their back pocket. Beyond agitators, there is the simple fact that not everyone is going to react like Gandhi when they get gassed, pepper-sprayed, flash-bombed, clubbed and shot with projectiles for peacefully assembling to point out a grievous wrong.

‘Occupy Wall Street’ is about saying “No.”

“No” to institutionalized greed of such vast width and breadth that it plunders our country even as it smiles around a mouthful of filet mignon.

“No” to the ocean of corporate cash that drowns our democracy.

“No” to rewarding the failure of frauds who proudly carry the banner of capitalism even as they enjoy the galloping socialism of the government bailout.

“No” to those who refuse to hire new employees because they want to screw over the economy and remove a president they don’t like. But it is also about so much else.

The ‘Occupy’ movement is as diverse and multifaceted as the cities and towns where it has been happening. More often than not, local issues are at the forefront of the protester’s concerns; Wall Street is local for New York City, but in Oakland, the protest has been geared more toward halting austerity measures and the closures of schools and libraries…and, yes, police violence. Yet even as every ‘Occupy’ community has its own set of priorities, it is all part of a single continuum, as the issues being protested all stem from the same core concerns that crashed the economy, and created the movement, in the first place.

‘Occupy Wall Street’ is not about getting into a public crunch with cops over whether or not tents should be allowed in a public park. Rather than react with violence to people who are sacrificing themselves to point out what has gone so terribly wrong with the America we all love, these authorities should take a step back and encompass the awesome fact that such a movement has become so very necessary in the first place.

They should remember that violence is the last refuge of the desperate, that violence directed towards these protests will only make them stronger, and will put a big, bloody underscore beneath their efforts. Every punch thrown by a police officer, every protester clubbed or gassed or bombed or shot down with a riot-control projectile, only proves the point of that protester, and invigorates the entire movement.

They should remember that this is the year 2011, and every single person gathered at these protests has a phone with a camera that will make any unnecessary or egregious act of official violence an instant media sensation. These authorities are not working in the dark, not by a long chalk. One protester with a steady hand will make an over-the-top cop famous in all the wrong ways in exactly as much time it takes to read this sentence. Enough footage like that, and matters will escalate quickly indeed. The whole world is, in fact, watching.

Every police officer dealing with these ‘Occupy’ protests is not a frothing mad dog, and more than every ‘Occupy’ protester is a brick-throwing terrorist. Police in Albany recently refused an order to clear out a group of ‘Occupy’ protesters, a decision that was roundly praised. But if the Battle of Oakland shows us anything, it is how quickly this can get out of hand. The protesters are not going anywhere, and if they are met with violence on the order of what took place Tuesday night, there is no telling where we will find ourselves in the end.

This work by Truthout is licensed under a Creative Commons Attribution-Noncommercial 3.0 United States License.

Posted in Truthout Articles | Tagged: iraq, New York City, Oakland, Oakland California, Occupy Wall Street, Police, Protest, Scott Olsen, wall street, William Rivers Pitt | Leave a Comment »

On October 6, Let's Make a National Clamor for Peace

Posted by Admin on September 30, 2011

http://www.truth-out.org/october-6-lets-make-national-clamor-peace/1317305972

Thursday 29 September 2011

by: Robert Naiman, Truthout | Op-Ed

(Image: JR / t r u t h o u t; Adapted: Spc. Bryanna Poulin, The U.S. Army)

On October 7, 2011, the United States will have been at war for ten years.

Let’s mark the occasion by making a national clamor for peace so loud that Congress, the president and big media will have to pay attention.

October 7 happens to fall on a Friday this year. If you get to choose, Friday is not necessarily the most strategic day to make a national clamor for peace, because 1) Congress will likely not be in session; 2) Friday is, in general, a crummy day to try to get media attention; and 3) even if these two things weren’t true or relevant, Friday is not a great day to try to hold public attention. People’s thoughts are turning to the weekend and then the weekend erases the chalkboard.

Moreover, the press has to cover the anniversary of the war, but these stories are going to be largely written and produced before Friday. The default media narrative will be: America has lost interest in the wars, because of the economy and unemployment, because “the wars are already winding down,” or some other story that journalists or editors will make up. We have to beat this default media narrative. To beat it, we need to get in front of it.

So, let’s mark the occasion on Thursday, October 6. Let’s have a national, “ecumenical” day of action for peace: to end the wars and cut the military budget.

By “ecumenical,” I mean this: everybody will “worship” in their own way. People who are willing to call Congress, will call Congress. People are willing to go to demonstrations, will go to demonstrations. People who get active online, will get active online. But everybody who wants peace will do something for peace on October 6. In the comments below, tell us what you are going to do to act for peace on October 6.

Call Congress: right now, the Congressional “supercommittee” is considering proposals to cut the US government debt by $1.2 trillion over ten years. One obvious choice: end the wars in Afghanistan and Iraq and cut the military budget. Poll datashows that when you ask people “if the supercommittee cuts the budget, where should they cut?” military spending walks to victory. But the military contractors and war profiteers, who have grown fat from ten years of war spending, are pressing Congress not to cut the military budget and to cut your Medicare benefits instead. If you do nothing else for peace on October 6, call at least one of your representatives in Congress – particularly if they are on the supercommittee – and tell them to end the wars and cut the military budget. The Congressional switchboard is202-225-3121.

In this speech on the budget, I explain why people who don’t want Congress to cut domestic spending and want to save the hundreds of thousands of jobs threatened by domestic spending cuts should be pounding on the supercommittee to end the wars and cut the military budget:

Demonstrate: on October 6, peace advocates will occupy Freedom Plaza in Washington, DC. All around the country, “occupy [city]” protests are already springing up in solidarity with the Wall Street protests. If you can get to one of these protests, go. On October 6, raise the banner of peace. If “occupying” isn’t your cup of tea, have a vigil outside your representative or senator’s office, or a federal building, or anyplace where you will be visible to the public. Send a press release to all local media the morning of the day before and call the local media and make sure they got your press release and are thinking of coming.

Here’s an idea that might spark media interest: form a group called “Tea Party Patriots for Peace,” demanding cuts to wasteful big government spending on war. (After all, war spending is the majority of federal discretionary spending.) Stop taxing us to pay for war!

Buzz it up online. On October 6, help “action for peace” be a focus of attention online. Blog and comment about actions taking place for peace; share writing about and coverage of actions for peace by others. Help it be the case that you can’t look anywhere online on October 6 without seeing action for peace.

On Friday, October 7, don’t let big media say that Americans aren’t acting to press for peace. In the comments below, tell us what you are going to do to act for peace on October 6.

This work by Truthout is licensed under a Creative Commons Attribution-Noncommercial 3.0 United States License.

Posted in Truthout Articles | Tagged: Freedom Plaza, October 6, Thursday, United States, wall street, War in Afghanistan (2001–present), Washington, Washington DC | Leave a Comment »

Fulford, Poofness & White Hat Reports! # 2 Mar 24/11

Posted by Admin on March 27, 2011

http://www.galacticfriends.com/updates/nesara-canada/5557-fulford-poofness-a-white-hat-reports-mar-2411.html

Thursday, 24 March 2011 12:46

Fulford Japan, Poofness & White Hat Global Events Mar 24/11.

Folks Nesara history is also available with JFk video in our Video, arts updates links. Remember that I will post more updates on Turesdays as well as thursdays as my subscriber numbers go up! All updates will be with my paid newsletter format until then thanks for supporting my work! Tami

Ben Fulford says an ultimatum with deadline has been issued to “the Cabal”.

http://www.youtube.com/watch?v=crP9PqlPnD0 Part 1

http://www.youtube.com/watch?v=9FuJrQK6TJ4 Part 2

Japanese Announcement about Events & Arrests Part 3 20 minutes 20 seconds

http://www.youtube.com/watch?v=-PwmAT7Bdf0

http://www.americanfreedomradio.com/archive/Project-Camelot-32k-031611.mp3

Illuminati Earthquake attack on Tokyo was deflected, England and the United States are the next target

Posted by benjamin

March 16, 2011

The earthquake and tsunami attack on Japan by the criminal corporate Washington D.C. cabal was meant to intimidate the people of the world into submission. Instead, it has provoked a threat by a very powerful group outside of the control of the White Dragon Society to “sink England, Italy and the United States into the ocean.” The White Dragon Society and its allies are appealing for calm and a negotiated solution before the planet earth is destroyed. High level negotiations aimed at accomplishing exactly this are now taking place in Tokyo and Osaka.

The earthquake attack was preceded by some very interesting numerical “coincidences.” First of all, a sum of 888.88 dollars was sent on March 8th to a key individual in New York who was supposed to cash it on March 8th, instead the cashed it on March 9th. Then on March 10th, an agent of the dark cabal set a key White Dragon Society member’s mobile alarm to ring at 11 AM Japan time on March 11th . Then at exactly 12:34 two identical e-mails were sent by two individuals to each other giving the geographical coordinates to the Ogasawara Islands. The quake that hit Japan on March 11 was initially given a magnitude of 8.8 but was then revived upwards to 8.9. The quake and tsumani attack was originally intended for Tokyo but was deflected to the North-East of the Ogasawara Islands.

A look at the tsunami map will clearly show it does not make sense as a natural disaster because Japan’s major urban locations (except Sendai) along the tsunami hit coast experienced no wave whatsoever. All this sounds very bizarre but can be proven scientifically.

We can also say that this writer has received multiple threats from Satan worshippers located within the Vatican and in Washington D.C. that “Japan will be sunk into the ocean.”

There is also evidence of insider trading related to this earthquake attack. For example the stock price of the company Higashi Nihon House, has been rising unnaturally for the past month. Japan has over 3 million vacant houses and a shrinking population so it is hard to explain the stock price rise unless somebody knew there would be a lot of reconstruction of destroyed housing. It would not surprise me if the investigative trail in this probable insider trading case led to cabal members.

In any case, negotiations are now taking place between the White Dragon and representatives of the Wall Street faction of the U.S. corporate government. The White Dragon Society is asking for a new global economic planning agency charged with ending poverty, stopping environmental destruction and releasing free energy technology in a safe and orderly manner. The Wall Street faction wants three new sovereign offshore centers for Oligarchs to conduct their business in private. The White Dragon Society is hopeful negotiations will conclude harmoniously this week.

However, the hard-core Satanic faction that still wants to kill over 4 billion people is still making threats. They fear mass arrests and are threatening to “split the planet in half” if these arrests take place. The Satanists have all been physically located and are being monitored by White Dragon forces and their allies.

The Satanists are also now trying to exaggerate fears about nuclear fall-out and nuclear melt-down in Japan. This is part of a psychological warfare follow-up to the earthquake weapon attack. Panic causing information is emanating from the U.S. embassy in Tokyo, U.S. corporations and their agents. The Satanists need a critical mass of fear and negative feeling in order to force populations to submit to their will and obey them.

The White Dragon Society urges everybody to take appropriate precautions based on correct scientific evidence but to avoid irrational panic because that is exactly what the Satanists want.

The faction making the threat to sink Italy, the U.S. and England to the bottom of the ocean has in its hands a weapon with planet destroying potential. The White Dragon Society has asked them to please avoid killing innocent people if they do go ahead and use their weapon. If we can give them precise coordinates of key Satanic infrastructure this would make it easier to avoid the deaths of innocents.

We would like to ask readers to find the precise GPS coordinates of the various HAARP facilities and other weapons of mass destruction still in the hands of the Satanic faction. This way the White Dragon Society could offer the holders of the planet destroying weapons an opportunity to protect lives.

www.benjaminfulford.net

US Treasury Secretary Tim Geithner shocked global markets by revealing that Washington is “quite open” to Chinese proposals for the gradual development of a global reserve currency run by the International Monetary Fund.

http://www.telegraph.co.uk/finance/economics/5050407/US-backing-for-world-currency-stuns-markets.html# shared by conniefogal@telus.net

The Dewhurst Files – Part 1
David Dewhurst is currently serving in Texas as the Lt. Governor, a position of Public Trust. An honorable position, demanding he conducts himself accordingly. His ambitions extend next to challenging for a seat in the Senate. Mr. Dewhurst’s complete personal integrity, and his ability to be an honest, forthright, public official, an elected leader of the people of the State of Texas, is now the issue.

This is a man whose own brother, in conjunction with others, is now facing serious unfolding litigation following the debacle over the breach of contract, and numerous other serious felonious criminal activities, relating to the Ed Falcone affair. Public entities are complicit and their associations which are unfolding will have implications for many.

Here are further details received:

Donald Nevins, the brother to David Dewhurst, signed a contract with his passport copy attached, as part of a settlement deal with Ed Falcone. This was presented to Ed Falcone as an already signed agreement.

Ed Falcone received emails in reference to this settlement contract that contained a heading, ”The Bush Settlement”.

Donald Nevins opened up a bank account for his group. Part of the settlement funds were instructed to be transferred into this account. He met with Ed Falcone and his bankers assuring them the funds would be wired to the agreed bank coordinates.

Donald Nevins indicated he was working on behalf of Bush Senior and the “Agency” [a reference to the Central Intelligence Agency (CIA)] via his brother, a former CIA Operative and the Lieutenant Governor of Texas, David Dewhurst.

Donald Nevins was part of a team, including five (5) other individuals, who flew around the world desperately trying to move money and alter bank account records to hide Bush Senior’s stolen moneys from Falcone and Joe Biden’s bribery money, from pursuing investigators. We have previously reported about some of these activities.

The signed agreement by Donald Nevins instructed Ed Falcone, that upon receiving his settlement payment he would transfer $550,000,000 Dollars into the group bank account explained above. 50%, or $275,000,000 Dollars would be divided between Donald Nevins and his brother, Lieutenant Governor David Dewhurst, while the other 50% would divided among the five other individuals who flew around the world helping move the stolen funds.

This issue is now heading for serious litigation and prosecution, with damning consequences for many, including Dewhurst as he will have to answer for his very awkward participation. All need to heed urgently at the evidence amassed. Their Bank visits with Senior Bank Officers, which will be declared, will have severe international legal consequences. Proof and the footprints of guilt are now about to be exhibited in a Court of Law, with developing criminal implications. The Bush’s are telling their scared minions not to do anything and be quiet … it will all blow over … “trust us”, they say. Well, trust us … it will not blow over … even with all of the threats, bribes and political destruction, many are fiercely angry and are not only willing but will gladly come forward to tell all they know. Even the Bush’s do not have the ability to stop this political storm.

The consequences are unfolding. Perhaps, Dewhurst’s dream of Senatorial glory may be better focused on being a Senatorial candidate by upholding the Constitution and all that being a high level, elected public official means and requires. If we could suggest, and we hate to be out of line by suggesting, but maybe, just maybe, Lt. Governor David Dewhurst needs to tell the truth about his involvement with the Bush’s and the $135,000,000.00 Dollars he was to receive for having his Brother deliver a message and documents. Or was Lt. Governor Dewhurst’s share of the money, a mere $135,000,000 Dollars, more than meets the eye? Dewhurst was a CIA operative after all … does he know the truth? America, this does not compute, does it to you? Are you voting for a person using his office for things that logically is difficult to explain? Is he to be trusted to represent you faithfully or line his pockets at your expense? It’s your vote!!

Either way, we say that if Dewhurst cares about his personal integrity and, that of the offices he wishes to hold, he either needs to tell the total truth which rats out the Bush’s or resign the office of Lt. Governor and cease with his aspirations of being an elected official on any level. Lt. Governor Dewhurst, your answer will tell the people of the State of Texas and all of America about your ability to hold office and faithfully represent your constituents. THE EYES OF OUR NATION ARE NOW UPON YOU.

What is visibly unfolding is a real life play on the American dream. The American ethos is to work, to prosper, to succeed, but not to have it stolen or defrauded from us. It’s about doing the right thing, standing together and helping all. Elected Officials are paid to help us, not use public office to help themselves.

Please, send a message to the coordinates we have supplied you below. Make your voice heard. Show we are not alone. It could be you next. Let us show the American spirit has not died. Your voice counts and together it gets louder. Exposure is their worst nightmare. Justice for one man, is justice for all.

Phone, Fax, and/or Email David Dewhurst and just state, “The eyes of our nation are now upon you.”

The David Dewhurst Committee:

Emails:
david.dewhurst@falconseaboard.com
ltgov@ltgov.state.tx.us
hq@dewhurst.org
Phone: (512) 235-9798
Fax: (512) 235-9797

Or To Dewhurst’s Direct Personal Assistant
C/O Ellen Gutierrez
Fax: (512) 463-0677 The white Hats http://tdarkcabal.blogspot.com

Greetings and Salutations;

An objective must be in mind when you prosecute a war. This banking war has been going on for many years now but the objective has never changed from the beginning. Returning this planet to a state of health, peace, and well being for all who live here, some would say, that’s impossible, true, if you had limited resources available to you. Also if your mind was limited to old paradigms. In the art of war, sun tzu, stepped beyond past behavior to find a different way forward, as he said, the best general is he who wins the war with no bloodshed. And not only just knowing the enemy but, one’s self too. The horizon increases in view ability, exponentially so does one’s choices, the probabilities.
Somethings are beyond the scope of math, the need for freedom, comes from outside the realm of logic and deduction, some things are just ‘Known’, ‘don’t know why, I just know it’. Our grandparents survived that way. No matter how technological the toys become and are available. That ‘feely’ part just sits there scandalizing the rational mind. Massive leaps in civilizations have happened because of that feeling buried deep like a tick in a hound dog’s back. That itch that can’t be scratched. Mine started up because my dad went thru ’29…’It’s going to happen again, you watch…they didn’t do anything about these greedy bankers, so it’s going to happen again’. He almost saw the bookend on that story. He never trusted banks from those days on and we still lived well. He followed the old paradigm, work hard and save your money. When they got to the point of raiding your piggy bank, the planetary lords said that’s enough. Oh yea, they exist, they are the ones who keep these warring tribes from obliterating all life, rendering this place sterile. The species began being watched very carefully the moment they started up with the nuke thing back in the 40’s.

We are living in the time where everyone living will witness a profound change from how things operated for 100+ years, this was never just about handing out money to people. It is about shifting the wealth of the world to break up the rigidity in thought of the status quo. In ‘their’ minds they realized that no matter how much time they gave these folks to do the ‘right thing’. They insisted on heading for a cliff, proving what dolts they really were, no matter what universities they attended. They even tried to spread their inverted thinking out into the solar system and beyond, they got sent back here with their tails between their legs. They are much more scientifically advanced than is publicly known. Tech will only take you so far then it presents you with it’s own limitations.

Massive leaps forward happened this past week. Since when has a fed chairman got appointed to serve in the imf? Did you hear little tim talking about working with the chinese on a new global reserve currency? The new banking system is already up and running and if you know that, some public statements have no bearing in fact, you damn sure can’t run anywhere with money and someone not know where it is. Ghost and goblins remain as long as one holds a space open for them to live, everything ends eventually, it’s just that few recognize what’s happening in the moment that an event takes place. After last thurs events were taken care of, the auspices moon provided the thrust to surge forward in the completion of the “Plan”. There’re many arrests forthcoming with unrest to follow, when the announcements are given. “The truth will set you free but at first it may piss you off”. From this action, the phoenix will rise from the ashes and be what it was intended to be in the first place. I hope everyone has their surf board waxed, we’re catching a world wide tsunami. We are there stay loose for a door knock and don’t be surprised when all your years of wait are ended. This is not a repeat of the past or another version of sliced bread. The bridge has been taken out that goes back to the 20th century. Time to go Jetsons.

Email me if you need a last minute consult but from all that’s coming across my desk, this was my last statement this side of the changeover. Have fun!

http://www.youtube.com/watch?v=5Itvu1XkDIY&NR=1

Love and Kisses,

“Poofness” 2goforth@safe-mail.net

Benjamin fulford ,Mar 21/11

The United States occupation forces in Japan are staging a major strategic defeat because they know the Japanese defense establishment knows it was elements of the US military that set off the March 11, (311) tsunami attack against Japan. This attack used nuclear weapons drilled into the seabed by submarines and not HAARP according to senior Pentagon Sources. In addition, four months ago they overruled Japanese authorities and placed deadly plutonium into the number 3 reactor at Fukushima, according to the governor of Fukushima prefecture. This was to provide a nuclear cover story for the seabed atomic attack, pentagon sources say. Needless to say, the ring-leaders of this attack are now in hiding and know they will be found.

The attack on Japan was orchestrated by the Bush/Clinton/Rockefeller cabal in an attempt to prevent the upcoming bankruptcy of their criminal corporate government in Washington D.C. That is why they staged the farcical show of “President” Obama of the bankrupt United States signing an “aid” bill for Japan, as if they could terrorize the rest of the world into giving them more money. That is also why they are now desperately trying to use their extortionist nation-wrecking IMF as the new vehicle for a “global currency.”

In addition, Chinese and Russian intelligence now report that Germany’s Angela Merkel is the daughter of Adolf Hitler thanks to the use of frozen sperm and the expertise of a Nazi doctor captured by the Soviets. That means she is almost certainly one of the ringleaders of the Nazi faction still hoping for a fascist world totalitarian government.

The Pentagon, for its part, is running out of oil thanks to a spreading global oil boycott targeting the criminal US corporate government. Bombing Libya will not help their case, just as attacking Japan did not help.

They are whistling in the wind because the whole world despises them and will no longer do business with them, even if this means facing down their threats of additional violence.

Their only hope is to turn over their command and control to General Colin Powell and other decent human beings still to be found within that large, bureaucratic and potentially good organization.

Meanwhile, multiple sources report that cabalist bankers, US military forces, corporate propaganda experts and other occupation forces have left Japan or have withdrawn to Okinawa. Japanese workers at US bases say troops have been withdrawn from all bases on the Japanese mainland, although this is not yet fully confirmed. However, we can confirm that agents of the criminal part of the Federal Reserve board have now left Japan. We would like to bid an especially good riddance to the rapacious bankers who have been stealing Japanese savings and using them to buy up chunks of Japan’s industry.

We can also now say that arch-traitor Heizo Takenaka, the former Finance Minister of Japan, will be facing multiple criminal charges for his crimes against the Japanese people during his time in power with the murderer Junichiro Koizumi.

One example of his criminality that we can prove in great detail in a court of law is his theft of the company Mizawa home. Takenaka illegally and unethically forced financially sound Mizawa Home into a government “financial restructuring agency,” pumped at least $200 million of Japanese taxpayer money into it and then handed it over to his brother who is now chairman of Misawa home. Our sources for this include Chiyoji Misawa, the founder of Misawa Home.

There will also be insider trading investigations into the sudden rise of the stock price of Higashi Nihon House in the month prior to the earthquake. It would only make sense for the share price of that company to rise as it did in the month prior to the tsunami if someone had insider knowledge that a bunch of housing was about to be destroyed. Japan has 3 million empty homes and a shrinking population.

Investigations will also reveal if Takenaka’s take-over of Misawa home was a sign this attack was planned long in advance.

We have also been informed by an astute reader that a Canadian company sent large shipments of Potassium Iodide to South Korea (a treatment for radioactive poisoning) one month before the nuclear “accidents,” in the Fukushima earthquake zone.

A representative of the Satanists was also told by a White Dragon Society representative that their idea that prophecy of the future was written in the stars and could not be changed was balderdash. “We will write our own stars,” he was told.

Finally, this writer went to the volcanic Island of Oshima to watch the supermoon on March 19th. The moon appeared a bright gold in color and had the exact same trajectory over the sky as did the sun on the following day. There were plenty of presumably US military observation planes in the sky over Oshima on that night but they left disappointed. Anything unusual that took place, took place when they were not watching.

This writer would like to add that even if he was given a technology capable of destroying the planet, he would never use it. Using it to save the planet is a different question but, humans already know how to do that.

www.benjaminfulford.net

Bush and the CIA’s Fraud Conspiracy Exposed. Today, the TRUTH they all thought would stay buried.

The Dewhurst Files – Part 2 March 22/11 The white Hat Report

As part of the on-going saga of scheming perpetrated against so many trusting investors like Edward Falcone by Bush Senior and his cohorts, we are now exposing new information as the prosecution evidence is being assembled and the case moves towards the first writs being served and potential arrests being made. Mr.Falcone has the signed Bush contract with Don Nevin, passport copy attached, representing Bush in the contractual undertaking. A bonfire of arrogance may await them when the punitive damages are assessed. Aligned to the missing TARP Funds and all indications of failed Infrastructure Projects, a lot of questions are already arising with the Political control of DC and State funds. The criminal actions now unfolding will end a few careers.

Having stolen vast Billions previously from Mr.Falcone, Bush Sr, operating via Don Nevin, fronting for his brother David Dewhurst Lt. Governor of Texas who was instrumental in setting up the contract for Bush using Don Nevin, then tried to induce Edward Falcone to put up a further $500 million dollars into a joint Monaco Bank account. Lt. Governor David Dewhurst, operating through his brother Don Nevin assured him it would facilitate the immediate release of the long overdue funds owed to him. This was against their original Settlement agreement which they had also breached 2 years previously. An agreement negotiated and signed by ex-President George W. Bush before he left office and then recorded with the CIA for Leon Panetta to perform against.

The demand from Nevin for more money was then increased to $550M. Part of the new $550M now being demanded, involved a fee of $275M from these funds, to be split equally between David Dewhurst and his brother Don Nevin. A Payoff demanded in writing from Nevin. Having been a previous victim of 5 broken Bush promises, Edward Falcone wisely declined. The last agreement was also approved for payment by President Obama and the CIA, but defaulted on yet again. Why would parties failing to perform on so many occasions then expect a further $550M from Mr. Falcone to perform what was already contractually committed as their responsibility? He refused, as he and his Legal Advisors saw it as another dangerous fraud scheme move by dubious operators. They then agreed to release his money without the $550M now being demanded, but again failed to pay what was long overdue. Their intent was clear. As with all ruthless fraud operators, it was to steal another $550M from Mr. Falcone. A clear, criminal conspiracy.

Bush Sr, his associates and the CIA, had previously ordered the release of settlement money to Mr. Falcone by sending out 5 CHIPS (Clearing House Interbank Payments System) allocated in his name for trading as the beneficiary, for payment owed to him which he also never received. His CHIP funds were diverted in delivery and used by the conspirators to circumvent him, directed instead to multiple bank platform accounts of their own for trading Medium Term Notes, using his named CHIP funds for their own benefit. The attorneys and investigators hold this evidence: records, Traders’ names, amounts and trades.

They stole his lawful entitlement of profits and continued to further utilize his cash accounts and CHIPS in conjunction with HSBC, Josef Ackermann Chairman of Deutsche Bank, Bush Sr, Bush Jr, the CIA, Paulson and Greenspan, time after time. There were also further parties participating in addition for each of the individual CHIPS.

Other banks were also used for Cash deals. Parties such as George H. W. Bush Sr., George W Bush Jr., Mitt Romney, Michael Herzog, Paul Guinette and others were cross involved in cash platforms, in conjunction with the CIA again. They blatantly stole $650M from Mr. Falcone’s account, using his cash funds criminally for their own benefit, including in conjunction again with Josef Ackermann of Deutsche Bank, a renowned banker of questionable repute who has previously been fined heavily and publicly admonished for conduct unbecoming of a Banker. Ackermann also set up the key Credit Lines at the Bank of Austria for the non-CHIP cash program element for the first year of trading for all the group of names listed above.

We exhibit for you below just some of his CHIPS utilized in their blatant deception;

CHIP 1) Wachovia Bank & Bank of America $4.3 Billion
CHIP 2) Wachovia Bank & Bank of America $4.3 Billion
CHIP 3) Wachovia Bank & Bank of America $4.3 Billion
CHIP 4) Bank of New York $10.5 Billion
CHIP 5) Citi Bank Singapore to Tyler Texas $12.5 Billion

Over and above the parties declared above, further benefiting parties also include Hillary Clinton, Joe Biden being bribed for $200M by Clinton to delay the Falcone settlements, Geithner, and others we will expose and name when due.

A question, at what stage should guilty Trading Banks also be held complicit and accountable for the clear and amoral Duty of Care and their Compliance Diligence failure? Multiple bank accounts around the world are being closely monitored for use of prosecutors. This is going to create serious problems for the Capital markets.

The profits accrued from Falcone funds for the CIA have been predominantly directed to Barclays Bank and Citibank, Singapore. The Bank of England’s own cross involvement will also be exposed in this sordid chain of events. Bush Sr. and the many guilty parties have multiple bank accounts around the world which are currently being monitored, ready for Congressional, Prosecution and developing mainstream media exposure.

On every occasion, Edward Falcone was denied his rightful and lawful investment share. They got rich using his money by fraud, theft and deception. He received nothing.

Bank Officers will attest to Congress and the Courts. Worse, so will numerous parties now cross entangled to save themselves, as we will display. Michael Herzog, an associate of both the Bush and Clintons, has already threatened on record if he is made to pay back his share of what was stolen from Edward Falcone, he will expose all his records of multiple Bush conspiracies he fronted for them over many years. When thieves fall out?

Bush commandeered United States Government planes using CIA agents to fly around the world over 10 weeks. The sole agenda of the Bush directed Agency team was to move money from bank to bank, changing their offshore bank records to attempt to hide and falsify the trading records from Falcone’s pursuing investigators. All now identified with incriminating records waiting for Prosecutors to confront and indict this CIA Agency laundering team.

Prior to the last election, Public approval rate for Congresses had slumped to only 9%. That means 91 out of every 100 Americans had lost confidence in their Congressman and considered “The Hill” not fit for purpose to execute the Constitution and the Laws of the United States. If we allow endemic abuse of one American then we all lose. By taking this campaign up to Congress to investigate, will restore America’s faith in The Hill. We have offered Congress a Prime example of corruption, endemic abuse of privileged positions by Senior Government and CIA Agency Officers, Bankers and the failures of Regulatory agencies such as the FBI, Homeland Security and the US Federal Reserve, to uphold the law and investigate clear abuse. These agencies, who are dominated by the same people, are sadly compromised, denying justice for the Bushes, their associates and their transgressions. What we are portraying is happening live, it is happening today, it is happening in our America, and it is happening to our own people … our fellow Americans.

Key issues for Congress and the media to consider and pursue on Public record:

Who authorized the use of these planes used by Bush to attempt to protect Biden and the Bushes from pursuing investigators? Who paid? Who knew?

Who authorized these CIA Agents, who we know and will name, to be used in such a way? This is a moral imperative being closely followed now by world leaders who all know. The Global media knows and won’t be muzzled forever.

How much money from each use of these trading CHIPS, and the cash in addition, has the CIA now made? What has been taken in personal wealth?

Please consider this is just one case alone. This is a small but easy-to-indict criminal corruption case. Betrayal of Trust by Public officials. We can and will evidence also many more. Vast amounts have been sequestered which should have been helping our people, our economy and our trusting GLOBAL Investors. Our Leaders, instead of helping our people, they have helped themselves; denying recovery and project investment aid for our nation as a direct result of their orgy of financial greed.

Texas, Lt. David Dewhurst and his brother, Don Nevin, are both now being challenged with so much about to break regarding incriminating signed contracts and letters. Mitt Romney is being challenged on his Presidency campaign trail, so his vetting problems increase for the same reason he was denied an opportunity for the Vice Presidency with John McCain. Joe Biden is being protected by Obama and the Bushes, but it won’t stop the wrath of the Global media which is building. When the dam breaks, just remember Watergate! This is so, so much bigger! Does Congress even understand what has happened to Edward Falcone is happening on a vastly larger scale perpetrated by the same player?

The Falcone story is only one of the many stories just like it that we are tracking and waiting to present to Congress and the Court system. Our case is simple. It’s not about one man. It’s a basic case of our Law needing to encompass all particularly former and current Presidents.

George H. W. Bush has a long history of public service starting in the early 1960’s. Is it a stretch to think that 50 years in politics is too much for one person? What we see from the inside is a man, although perhaps still exhorted by many, who has spent his life learning the pertinent government systems and the methods and procedures to subvert the system for his own benefit.

It is an issue when you personally turn from moral to amoral in your dealings and the acts you associate yourself with. It is a problem when you desire to be the wealthiest and most powerful family in the world and are willing to do anything to accomplish this. When the oath of the President of the United States means nothing to you and you believe, because of the office you once held, you can operate illegally with impunity and without consequence…..in this case, there are consequences and it starts with a Congressional Inquiry.

”Be you ever so mighty, The Law is above you!”

Ben Fulford: Illuminati Earthquake Attack on Tokyo was Deflected (stevebeckow.com)
Ben Fulford: US Troops and Occupation Forces Flee Japan (stevebeckow.com)
Ben Fulford’s Ultimatum to the Cabal (stevebeckow.com)
Ben Fulford: Don’t Play into the Hands of Fear-Inducers (stevebeckow.com)
Ben Fulford Calls Japanese Earthquake and Tsunami a HAARP Event (stevebeckow.com)
Japan’s Meltdown – in a 1997 DoD news briefing Secretary of Defense, William S. Cohen, warned of “the use of electromagnetic waves” to “set off earthquakes” (prof77.wordpress.com)
Robert Fulford: We’re fat, and we don’t really care (fullcomment.nationalpost.com)
Bohemian Grove: Illuminati Meet for Satanic Rituals! (angelbabe43.wordpress.com)

Posted in Conspiracy Archives, Earth Changes, Exopolitical Interventions, Free Energy, Geo-Politics | Tagged: Bonin Islands, David Dewhurst, japan, Race and ethnicity in the United States Census, Satanism, United States, wall street, Washington D.C, World Geodetic System | Leave a Comment »

Ruling on Behalf of Wall Street's "Super Rich": The Financial End Time has Arrived

Posted by Admin on November 23, 2010

Hobin Rood!

by Prof. Michael Hudson

Global Research, November 16, 2010

Now that President Obama is almost celebrating his bipartisan willingness to renew the tax cuts for the super-rich enacted under George Bush ten years ago, it is time for Democrats to ask themselves how strongly they are willing to oppose an administration that looks like Bush-Cheney III. Is this what they expected by Mr. Obama’s promise to rise above partisan politics – by ruling on behalf of Wall Street, now that it is the major campaign backer of both parties?

It is a reflection of how one-sided today’s class war has become that Warren Buffet has quipped that “his” side is winning without a real fight being waged. No gauntlet has been thrown down over the trial balloon that the president and his advisor David Axelrod have sent up over the past two weeks to extend the Bush tax cuts for the wealthiest 2% for “just” two more years. For all practical purposes the euphemism “two years” means forever – at least, long enough to let the super-rich siphon off enough more money to bankroll enough more Republicans to be elected to make the tax cuts permanent.

Mr. Obama seems to be campaigning for his own defeat! Thanks largely to the $13 trillion Wall Street bailout – while keeping the debt overhead in place for America’s “bottom 98%” – this happy 2% of the population now receives an estimated three quarters (~75%) of the returns to wealth (interest, dividends, rent and capital gains). This is nearly double what it received a generation ago. The rest of the population is being squeezed, and foreclosures are rising.

Charles Baudelaire quipped that the devil wins at the point where he manages to convince the world that he doesn’t exist. Today’s financial elites will win the class war at the point where voters believe it doesn’t exist – and believe that Mr. Obama is trying to help them rather than shepherd them into debt peonage as the economy settles into debt deflation.

We are dealing with shameless demagogy. The financial End Time has arrived, but Mr. Obama’s happy-talk pretends that “two years” will get us through the current debt-induced depression. The Republican plan is to make more Congressional and Senate gains in 2012 as Mr. Obama’s former supporters “vote with their backsides” and stay home, as they did earlier this month. So “two years” means forever in politician-talk. Why vote for a politician who promises “change” but is merely an exclamation mark for the Bush-Cheney policies from Afghanistan and Iraq to Wall Street’s Democratic Leadership Council on the party’s right wing? One of its leaders, after all, was Mr. Obama’s Senate mentor, Joe Lieberman.

The second pretense is that cutting taxes for the super-rich is necessary to win Republican support for including the middle class in the tax cuts. It is as if the Democrats never won a plurality in Congress. (One remembers George W. Bush with his mere 50+%, pushing forward his extremist policies on the logic that: “I’ve got capital, and I’m using it.” What he had, of course, was Democratic Leadership Committee support.) The pretense is “to create jobs,” evidently to be headed by employment of shipyard workers to build yachts for the nouveau riches and sheriff’s deputies to foreclose on the ten million Americans whose mortgage payments have fallen into arrears. It sounds Keynesian, but is more reminiscent of Thomas Robert Malthus’s lugubrious claim (speaking for Britain’s landed aristocracy) that landlords would keep the economy going by using their rental income (to be protected by high agricultural tariffs) to hire footmen and butlers, tailors and carriage-makers.

It gets worse. Mr. Obama’s “Bush” tax cut is only Part I of a one-two punch to shift taxes onto wage earners. Congressional economists estimate that extending the tax cuts to the top 2% will cost $700 to $750 billion over the next decade or so. “How are we going to go out and borrow $700 billion?” Mr. Obama asked Steve Croft on his Sixty Minutes interview on CBS last week.

It was a rhetorical question. The President has appointed a bipartisan commission (right-wingers on both sides of the aisle) to “cure” the federal budget deficit by cutting back social spending – to pay yet more bailouts to the economy’s financial wreckers. The National Commission on Fiscal Responsibility and Reform might better be called the New Class War Commission to Scale Back Social Security and Medicare Payments to Labor in Order to Leave more Tax Revenue Available to Give Away to the Super-Rich. A longer title than the Deficit-Reduction Commission used by media friendlies, but sometimes it takes more words to get to the heart of matters.

The political axiom at work is “Big fish eat little fish.” There’s not enough tax money to continue swelling the fortunes of the super-rich pretending to save enough to pay the pensions and related social support that North American and European employees have been promised. Something must give – and the rich have shown themselves sufficiently foresighted to seize the initiative. For a preview of what’s in line for the United States, watch neoliberal Europe’s fight against the middle and working class in Greece, Ireland and Latvia; or better yet, Pinochet’s Chile, whose privatized Social Security accounts were quickly wiped out in the late 1970s by the kleptocracy advised by the Chicago Boys, to whose monetarist double-think Mr. Obama’s appointee Ben Bernanke has just re-pledged his loyalty.

What is needed to put Mr. Obama’s sell-out in perspective is the pro-Wall Street advisors he has chosen – not only Larry Summers, Tim Geithner and Ben Bernanke (who last week reaffirmed his loyalty to Milton Friedman’s Chicago School monetarism), but by stacking his Deficit Reduction Commission with outspoken advocates of cutting back Social Security, Medicare and other social spending. Their ploy is to frighten the public with a nightmare of $1 trillion deficit to pay retirement income over the next half century – as if the Treasury and Fed have not just given Wall Street $13 trillion in bailouts without blinking an eye. President Obama’s $750 billion tax giveaway to the wealthiest 2% is mere icing on the cake that the rich will be eating when the bread lines get too long.

To put matters in perspective, bear in mind that interest on the public debt (that Reagan-Bush quadrupled and Bush-Obama redoubled) soon will amount to $1 trillion annually. This is tribute levied on labor – increasing the economy’s cost of living and doing business – paid for losing the fight for economic reform and replacing progressive taxation with regressive neoliberal tax policy. As for military spending in the Near East, Asia and other regions responsible for much of the U.S. balance-of-payments deficit, Congress will always rise to the occasion and defer to whatever foreign threat is conjured up requiring new armed force.

It’s all junk economics. Running a budget deficit is how modern governments inject the credit and purchasing power needed by economies to grow. When governments run surpluses, as they did under Bill Clinton (1993-2000), credit must be created by banks. And the problem with bank credit is that most is lent, at interest, against collateral already in place. The effect is to inflate real estate and stock market prices. This creates capital gains – which the “original” 1913 U.S. income tax treated as normal income, but which today are taxed at only 15% (when they are collected at all, which is rarely in the case of commercial real estate). So today’s tax system subsidizes the inflation of debt-leveraged financial and real estate bubbles.

The giveaway: the Commission’s position on tax deductibility for mortgage interest

The Obama “Regressive Tax” commission spills the beans with its proposal to remove the tax subsidy for high housing prices financed by mortgage debt. The proposal moves only against homeowners – “the middle class” – not absentee owners, commercial real estate investors, corporate raiders or other prime bank customers.

The IRS permits mortgage interest to be tax-deductible on the pretense that it is a necessary cost of doing business. In reality it is a subsidy for debt leveraging. This tax bias for debt rather than equity investment (using one’s own money) is largely responsible for loading down the U.S. economy with debt. It encourages corporate raiding with junk bonds, thereby adding interest to the cost of doing business. This subsidy for debt leveraging also is the government’s largest giveaway to the banks, while causing the debt deflation that is locking the economy into depression – violating every precept of the classical drive for “free markets” in the 19th-century. (A “free market” meant freedom from extractive rentier income, leading toward what Keynes gently called “euthanasia of the rentier.” The Obama Commission endows rentiers atop the economy with a tax system to bolster their power, not check it – while shrinking the economy below them.)

Table 7.11 of the National Income and Product Accounts (NIPA) reports that total monetary interest paid in the U.S. economy amounted to $3,240 billion in 2009. Homeowners paid just under a sixth of this amount ($572 billion) on the homes they occupied. Mr. Obama’s commission estimates that removing the tax credit on this interest would yield the Treasury $131 billion in 2012.

There is in fact a good logic for stopping this tax credit. The mortgage-interest tax deduction does not really save homeowners money. It is a shortsighted illusion. What the government gives to “the homeowner” on one hand is passed on to the mortgage banker by “the market” process that leads bidders for property to pledge the net available rental value to the banks in order to obtain a loan to buy the home (or an office building, or an entire industrial company, for that matter.) “Equilibrium” is achieved at the point where whatever rental value the tax collector relinquishes becomes available to be capitalized into bank loans.

This means that what appears at first as “helping homeowner” afford to pay mortgages turns out merely to enable them to afford to pay more interest to their bankers. The tax giveaway uses homebuyers as “throughputs” to transfer tax favoritism to the banks.

It gets worse. By removing the traditional tax on real estate, state, local and federal governments need to tax labor and industry more, by transforming the property tax onto income and sales taxes. For banks, this is transmuting tax revenue into gold – into interest. And as for the home-owning middle class, it now has to pay the former property tax to the banker as interest, and also to pay the new taxes on income and sales that are levied to make up for the tax shift.

I support removing the tax favoritism for debt leveraging. The problem with the Deficit Commission is that it does not extend this reform to the rest of the economy – to the commercial real estate sector, and to the corporate sector.

The argument is made that “The rich create jobs.” After all, somebody has to build the yachts. What is missing is the more general principle: Wealth and income inequality destroy job creation. This is because beyond the wealthy soon reach a limit on how much they can consume. They spend their money buying financial securities – mainly bonds, which end up indebting the economy. And the debt overhead is what is pushing today’s economy into deepening depression.

Since the 1980s, corporate raiders have borrowed high-interest “junk bond” credit to take over companies and make money by stripping assets, cutting back long-term investment, research and development, and paying out depreciation credit to their financiers. Financially parasitized companies use corporate income to buy back their stock to support its price – and hence, the value of stock options that financial managers give themselves – and borrow yet more money for stock buybacks or simply to pay out as dividends. When the process has run its course, they threaten their work force with bankruptcy that will wipe out its pension benefits if employees do not agree to “downsize” their claims and replace defined-benefit plans with defined-contribution plans (in which all that employees know is how much they pay in each month, not what they will get in the end). By the time this point has been reached, the financial managers have paid themselves outsized salaries and bonuses, and cashed in their stock options – all subsidized by the government’s favorable tax treatment of debt leveraging.

The attempted raids on McDonalds and other companies in recent years provide object lessons in this destructive financial policy of “shareholder activists.” Yet Mr. Obama’s Deficit Reduction Commission is restricting its removal of tax favoritism for debt leveraging only for middle class homeowners, not for the financial sector across the board. What makes this particularly absurd is that two thirds of homeowners do not even itemize their deductions. The fiscal loss resulting from tax deductibility of interest stems mainly from commercial investors.

If the argument is correct (and I think it is) that permitting interest to be tax deductible merely “frees” more revenue to pay interest to banks – to capitalize into yet higher loans – then why isn’t this principle even more applicable to the Donald Trumps and other absentee owners who seek always to use “other peoples’ money” rather than their own? In practice, the “money” turns out to be bank credit whose cost to the banks is now under 1%. The financial-fiscal system is siphoning off rental value from commercial real estate investment, increasing the price of rental properties, commercial real estate, and indeed, industry and agriculture.

Alas, the Obama administration has backed the Geithner-Bernanke policy that “the economy” cannot recover without saving the debt overhead. The reality is that it is the debt overhead that is destroying the economy. So we are dealing with the irreconcilable fact that the Obama position threatens to lower living standards from 10% to 20% over the coming few years – making the United States look more like Greece, Ireland and Latvia than what was promised in the last presidential election.

Something has to give politically if the economy is to change course. More to the point, what has to give is favoritism for Wall Street at the expense of the economy at large. What has made the U.S. economy uncompetitive is primarily the degree to which debt service has been built into the cost of living and doing business. Post-classical “junk economics” treats interest and fees as payment for the “service” for providing credit. But interest (like economic rent and monopoly price extraction) is a transfer payment to bankers with the privilege of credit creation. The beneficiaries of providing tax favoritism for debt are the super-rich at the top of the economic pyramid – the 2% whom Mr. Obama’s tax giveaway will benefit by over $700 billion.

If the present direction of tax “reform” is not reversed, Mr. Obama will shed crocodile tears for the middle class as he sponsors the Deficit Reduction Commission’s program of cutting back Social Security and revenue sharing to save states and cities from defaulting on their pensions. One third of U.S. real estate already is reported to have sunk into negative equity, squeezing state and local tax collection, forcing a choice to be made between bankruptcy, debt default, or shifting the losses onto the shoulders of labor, off those of the wealthy creditor layer of the economy responsible for loading it down with debt.

Critics of the Obama-Bush agenda recall how America’s Gilded Age of the late 19th century was an era of economic polarization and class war. At that time the Democratic leader William Jennings Bryan accused Wall Street and Eastern creditors of crucifying the American economy on a cross of gold. Restoration of gold at its pre-Civil War price led to a financial war in the form of debt deflation as falling prices and incomes received by farmers and wage labor made the burden of paying their mortgage debts heavier. The Income Tax law of 1913 sought to rectify this by only falling on the wealthiest 1% of the population – the only ones obliged to file tax returns. Capital gains were taxed at normal rates. Most of the tax burden therefore fell on finance, insurance and real estate (FIRE) sector.

The vested interests have spent a century fighting back. They now see victory within reach, by perpetuating the Bush tax cuts for the wealthiest 2%, phasing out of the estate tax on wealth, the tax shift off property onto labor income and consumer sales, and slashing public spending on anything except more bailouts and subsidies for the emerging financial oligarchy that has become Mr. Obama’s “bipartisan” constituency.

What we need is a Futures Commission to forecast just what will the rich do with the victory they have won. As administered by President Obama and his designated appointees Tim Geithner and Ben Bernanke, their policy is financially and fiscally unsustainable. Providing tax incentives for debt leveraging – for most of the population to go into debt to the rich, whose taxes are all but abolished – is shrinking the economy. This will lead to even deeper financial crises, employer defaults and fiscal insolvency at the state, local and federal levels. Future presidents will call for new bailouts, using a strategy much like going to military war. A financial war requires an emergency to rush through Congress, as occurred in 2008-09. Mr. Obama’s appointees are turning the U.S. economy into a Permanent Emergency, a Perpetual Ponzi Scheme requiring injections of more and more Quantitative Easing to to rescue “the economy” (Mr. Obama’s euphemism for creditors at the top of the economic pyramid) from being pushed into insolvency. Mr. Bernanke’s helicopter flies only over Wall Street. It does not drop monetary relief on the population at large.

“The Wurst of Obama: He’s Carving the Middle Class into Sausage Filler as a Super-Meal for the Rich.”

Michael Hudson is a frequent contributor to Global Research.Click here for Global Research Articles by Michael Hudson

Obama’s Greatest Betrayal: The Coming Sell-Out to the Super Rich and What It Means for the Rest of Us (alternet.org)
Pushing on a string: Why tax breaks for the rich won’t help (thehill.com)
Obama Supporters Looking for a Sign in Tax Cuts Brawl (politicsdaily.com)
We’ve had the Wall Street Bank Bailout. Now we will have the millionaire bailout. (iflizwerequeen.com)
Robert Creamer: Economic History Shows Clearly that Tax Cuts for Rich Hurt the Economy (huffingtonpost.com)
Larry Abrams: The Devil and Barack Obama (capitolhillblue.com)
Leo W. Gerard: Mourning in America: Death of the Middle Class (huffingtonpost.com)

Posted in Economic Upheavals | Tagged: Barack Obama, Ben Bernanke, Democratic Leadership Council, George W. Bush, global research, National Commission on Fiscal Responsibility and Reform, Thomas Robert Malthus, United States, wall street | Leave a Comment »

The Money Assassins

Posted by Admin on February 8, 2010

http://battleofearth.files.wordpress.com/2010/02/wallstreet020710.jpg

Stocks and Shares

The Money Assassins

Excerpt from “The Armageddon Conspiracy Website“
Published here: Sunday, February 7, 2010 at 2:38 PM

In Zeitgeist Addendum, “Economic Hitman” John Perkins said:

“We economic hit men really have been the ones responsible for creating this first truly global empire and we work in many different ways. But perhaps the most common is that we will identify a country that has resources our corporations covet, like oil, and then arrange a huge loan to that country from the World Bank or one of it’s sister organizations. But the money never actually goes to the country. Instead it goes to our big corporations to build infrastructure projects in that country. Power plants, industrial parks, ports…things that benefit a few rich people in that country in addition to our corporations, but really don’t help a majority of the people at all. However, the whole country is left holding a huge debt.”

It’s such a big debt they can’t repay it, and that’s part of the plan, that they can’t repay it. And so at some point we economic hit men go back to them and say ‘Listen, you owe us a lot of money. You can’t pay your debts, so sell your oil real cheap to our oil companies, allow us to build a military base in your country, or send troops in support of ours to someplace in the world like Iraq, or vote with us on the next U.N. vote.’ They have to have their electric utility company privatized and their water and sewage system privatized and sold to US corporations or other multinational corporations.

“So there was a whole mushrooming thing, and it’s so typical of the way the IMF and the World Bank work. They put a country in debt, and it’s such a big debt it can’t pay it, and then you offer to refinance the debt and get it to pay even more interest. And you demand this quid pro quo which you call ‘conditionality’ or ‘good governance’ which means basically that they’ve got to sell off their resources, including many of their social services, their utility companies, their school systems sometimes, their penal systems, their insurance systems, to foreign corporations. So it’s a double, triple, quadruple whammie!”

But the economic hitmen aren’t just taking contracts out on nations, they have us in their sights too. Just as they give big loans to countries to saddle them with debts, they give big loans to ordinary men and women too. They give them massive mortgages to pay off, and cards loaded with credit (aka debt). Soon enough, you’re a slave of the system, with no prospect of escape. You have to keep on the treadmill, you have to scamper forwards with the other rats in the rat race, you have to keep your nose clean, or rather extremely dirty with all that brown-nosing you’re having to do. You can’t afford to aggravate your employer. You’re locked into the system. You’re terrified of losing your job because then you won’t be able to pay your debts. The economic hitman’s silencer is pointing at you right between the eyes.

The Old World Order use the use the same tactics on the big and the small scale: whether it’s a nation or an individual, get them into debt and then you own them.

You’re not free, You’re not human. You’re a performing monkey, a rat with no option but to stay in the race. You’re a slave, completely under their control, which was their goal right from the start.

But if you buy property at the right time, you can be a partial winner. House prices might shoot up, and you will have a valuable asset. But what of others who didn’t get on the property ladder at the right time? They might now be priced out of the market. Ownership of houses generates winners and losers. There’s no skill involved, just luck. Did you get your timing right or not? By chance, some do, and others don’t. That chance could shape your future. You might rise up the pecking order, or fall down. You might have an asset that your children will inherit and then they will have an advantage over less fortunate children who have nothing to inherit from their parents.
Why should home ownership dictate your wealth and status, your prospects in life, and even that of your children? It shouldn’t, but it does. It has nothing at all to do with merit.

One of the classic mantras of the Power Elite to maintain their rule is contained in the principle: divide and rule.

Look at how society is constructed. The basic unit is the family. Each family lives in its own small, square box (house), cut off from others. Each has one or more cars in which they can again cut themselves off from others. Each is determined to do the best for its own members, and to hell with everyone else.

A society based on the family is full of division, of narrow self-interest, of fear and distrust of others. Everywhere, there are barriers between people. No one is cooperating. We are in the most horrific zero-sum game where if one family wins another loses. Families rising up are invariably pushing other families down. Rich families send their children to private schools to ensure that they get a better education than those who can’t afford private school. Once you have gone to a private school, and then an elite college or university, you are eligible for the fine things in life: the best jobs, the best houses, the most attractive partners. You are part of a rigged system, a cartel which is designed to favour you and penalize those who don’t share your privileged background. In Britain, this is known as “the old school tie”. If you walk into a job interview and you have the right tie and the right accent, you will get the job. An equally or more meritorious candidate from a poorer background has no chance. This is how society works. This is the gospel of the family.

Anyone who does not come from a good, stable, prosperous family is in real trouble. They are likely to slip into the dreaded underclass where they will lead a life of grinding misery with little or no chance of improving themselves. They will resort to drugs and crime to get them through.

We have been divided into countless selfish, competing little units and we are being ruled by the elite, dynastic families at the top of the pyramid. We live in a disguised feudal system; the lords at the top and the serfs (us) effectively owned by them.

We are all cutting each other’s throats, desperately trying to climb the pyramid and drag down those above us and stand on those below us. No one is ever condemned for saying, “I’d do anything for my family” (this is the principle by which most parents operate), yet Christianity says “Love thy neighbour as thyself”; “Do unto others as you would have them do unto you.” No well-off family loves the underclass, no well-off family wants to be done to as they do unto the underclass. None of these families are Christians, even though they say they believe in Christ.

Capitalism is a cut-throat ideology, a robber’s creed. It’s all about how you can get one over your neighbours, how you can get more money, status and power than others. The “American Dream” is about a person or family rising from nowhere to the very top, above everyone else. It’s not about a whole nation rising.

Life is very simple in many respects. Would you rather have leaders who think that society is improved by raising up everyone, or by those who seek their own personal advantage at any cost, regardless of the impact on others. Do you think Wall Street operates in your interests or its own? And if it is not operating in the interests of all the people, why is it tolerated at all? “Greed is good,” said Gordon Gekko. Perhaps for the likes of him, but not for anyone else.

Why do we sign up for our own servitude? It doesn’t need to be like this.

A very simple moral test can be applied to every decision. Is it done to benefit you alone or to help you and everyone else? Wall Street’s morality is the former; Washington DC’s morality is the former; capitalism promotes the former; the family abides by the former.

The antidote to family is community. The antidote to capitalism is community. The antidote to narrow self-interest is community. The antidote to Wall Street and big business is community. “Christianity” is theoretically (but not in practice) about community. Illumination is about community.

And community is all about trying to create the environment for each and every person to achieve their maximum potential. An underclass would be unacceptable in a society based on community. Racism, sexism, discrimination, privilege would be unacceptable.

At the moment, a tiny elite live as gods while the vast majority of humanity live in grim conditions with only a few dollars a day to survive. Imagine a world where everyone is flourishing, achieving, contributing. What could humanity not achieve? This is the path of light, the way to the True God. What we have at the moment is rule by the Demiurge, based on division, conflict, self-interest, hatred, selfishness and greed. The institutions of the world serve his and their interests, not those of the people. His ideology has triumphed. The Power Elite, the Old World Order, are his Chosen Ones who have implemented his destructive, hateful will to the letter.
Do you think there is a single godly person in Wall Street? They are the high priests of the Demiurge, and their skyscraper offices are his synagogues. Their chosen task in life is to enrich themselves at everyone else’s expense.

To this day there are people working for the defunct organisation Lehman Brothers. Their task is to unravel all of the deals that Lehman was involved with before it collapsed. These people, who took huge bonuses while their bank was crashing, caused by their disastrous decisions, are still being given huge bonuses because otherwise they would leave and it would be impossible to clean up their mess. In other words, they were paid a fortune while they were destroying their bank with their recklessness and stupidity, and now they are being paid a fortune to clean up their own disaster. They win no matter the circumstances. That’s the way the OWO operates.

A bank robber goes into a bank and steals a million dollars – that’s a crime. A chief executive officer goes into a bank, nearly bankrupts it through his incompetence, then takes out a hundred million dollars in salary, share options, benefits in kind and finally an enormous payoff when he finally gets fired. That’s business. It’s entirely legitimate. But think about it – who’s the bigger criminal? Who has done the most damage to the bank? If you are “authorized”, you can do anything you like. You have a licence to help yourself to as much money as you like. No one will stop you.

Who are the authorities? Who appoints them? Who monitors and regulates them? Who is allowed to remove them from office? Do the people ever have any say?

At Davos, a luxury ski resort in Switzerland, world leaders gather annually to discuss the economic future of the world. Politicians, bankers, industrialists, media moguls…the entire ruling class, the Old World Order, come together to decide how to carve up the world pie. You have no say in any of it. No one consults you. Your opinions are ignored. This is the way the world works. Why do you tolerate it? Why does anyone put up with this?

It was these people, those fat cats who go to Davos, who wrecked the world’s economy, who caused millions to lose their jobs and homes. What makes them think they are experts, that they are “good” for the world, that the world would fall apart without them? The reverse is true. If they vanished, it would be the best thing for the world. As the old joke says, what do you call a thousand lawyers at the bottom of the sea? A good start. The same is true for all bankers, accountants, politicians, stock market traders, advertisers, celebrities.

We won’t be free until it’s no longer possible to point at someone and say, “There goes one of the Power Elite.” There should be no Power Elite, no one with vastly more money than others, no one with vastly more influence, no one who is treated as a king.

Posted in Economic Upheavals | Tagged: banking cartel, banks, changers, controllers, credits, crisis bubble, derivatives, dow jones, economy, fraudulent, future, futures, global elite, money, monies, plutocracy, policies, sensex, shares, stocks, wall street | Leave a Comment »

The Battle of the Titans: JP Morgan Versus Goldman Sachs

Posted by Admin on February 8, 2010

The Battle of the Titans: JP Morgan Versus Goldman Sachs

Or Why the Market Was Down for 7 Days in a Row

by Ellen Brown

Global Research, January 29, 2010

Web of Debt – 2010-01-28

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We are witnessing an epic battle between two banking giants, JPMorgan Chase (Paul Volcker) and Goldman Sachs (Geithner/Summers/Rubin). Left strewn on the battleground could be your pension fund and 401K.

The late Libertarian economist Murray Rothbard wrote that U.S. politics since 1900, when William Jennings Bryan narrowly lost the presidency, has been a struggle between two competing banking giants, the Morgans and the Rockefellers. The parties would sometimes change hands, but the puppeteers pulling the strings were always one of these two big-money players. No popular third party candidate had a real chance at winning, because the bankers had the exclusive power to create the national money supply and therefore held the winning cards.

In 2000, the Rockefellers and the Morgans joined forces, when JPMorgan and Chase Manhattan merged to become JPMorgan Chase Co. Today the battling banking titans are JPMorgan Chase and Goldman Sachs, an investment bank that gained notoriety for its speculative practices in the 1920s. In 1928, it launched the Goldman Sachs Trading Corp., a closed-end fund similar to a Ponzi scheme. The fund failed in the stock market crash of 1929, marring the firm’s reputation for years afterwards. Former Treasury Secretaries Henry Paulson, Robert Rubin, and Larry Summers all came from Goldman, and current Treasury Secretary Timothy Geithner rose through the ranks of government as a Summers/Rubin protégé. One commentator called the U.S. Treasury “Goldman Sachs South.”

Goldman’s superpower status comes from something more than just access to the money spigots of the banking system. It actually has the ability to manipulate markets. Formerly just an investment bank, in 2008 Goldman magically transformed into a bank holding company. That gave it access to the Federal Reserve’s lending window; but at the same time it remained an investment bank, aggressively speculating in the markets. The upshot was that it can now borrow massive amounts of money at virtually 0% interest, and it can use this money not only to speculate for its own account but to bend markets to its will.

But Goldman Sachs has been caught in this blatant market manipulation so often that the JPMorgan faction of the banking empire has finally had enough. The voters too have evidently had enough, as demonstrated in the recent upset in Massachusetts that threw the late Senator Ted Kennedy’s Democratic seat to a Republican. That pivotal loss gave Paul Volcker, chairman of President Obama’s newly formed Economic Recovery Advisory Board, an opportunity to step up to the plate with some proposals for serious banking reform. Unlike the string of Treasury Secretaries who came to the government through the revolving door of Goldman Sachs, former Federal Reserve Chairman Volcker came up through Chase Manhattan Bank, where he was vice president before joining the Treasury. On January 27, market commentator Bob Chapmanwrote in his weekly investment newsletter The International Forecaster:

“A split has occurred between the paper forces of Goldman Sachs and JP Morgan Chase. Mr. Volcker represents Morgan interests. Both sides are Illuminists, but the Morgan side is tired of Goldman’s greed and arrogance. . . . Not that JP Morgan Chase was blameless, they did their looting and damage to the system as well, but not in the high handed arrogant way the others did. The recall of Volcker is an attempt to reverse the damage as much as possible. That means the influence of Geithner, Summers, Rubin, et al will be put on the back shelf at least for now, as will be the Goldman influence. It will be slowly and subtly phased out. . . . Washington needs a new face on Wall Street, not that of a criminal syndicate.”

Goldman’s crimes, says Chapman, were that it “got caught stealing. First in naked shorts, then front-running the market, both of which they are still doing, as the SEC looks the other way, and then selling MBS-CDOs to their best clients and simultaneously shorting them.”

Volcker’s proposal would rein in these abuses, either by ending the risky “proprietary trading” (trading for their own accounts) engaged in by the too-big-to-fail banks, or by forcing them to downsize by selling off those portions of their businesses engaging in it. Until recently, President Obama has declined to support Volcker’s plan, but on January 21 he finally endorsed it.

The immediate reaction of the market was to drop – and drop, day after day. At least, that appeared to be the reaction of “the market.” Financial analyst Max Keiser suggests a more sinister possibility. Goldman, which has the power to manipulate markets with its high-speed program trades, may be engaging in a Mexican standoff. The veiled threat is, “Back off on the banking reforms, or stand by and watch us continue to crash your markets.” The same manipulations were evident in the bank bailout forced on Congress by Treasury Secretary Hank Paulson in September 2008.

In Keiser’s January 23 broadcast with co-host Stacy Herbert, he explains how Goldman’s manipulations are done. Keiser is a fast talker, so this transcription is not verbatim, but it is close. He says:

“High frequency trading accounts for 70% of trading on the New York Stock Exchange. Ordinarily, a buyer and a seller show up on the floor, and a specialist determines the price of a trade that would satisfy buyer and seller, and that’s the market price. If there are too many sellers and not enough buyers, the specialist lowers the price. High frequency trading as conducted by Goldman means that before the specialist buys and sells and makes that market, Goldman will electronically flood the specialist with thousands and thousands of trades to totally disrupt that process and essentially commandeer that process, for the benefit of siphoning off nickels and dimes for themselves. Not only are they siphoning cash from the New York Stock Exchange but they are also manipulating prices. What I see as a possibility is that next week, if the bankers on Wall Street decide they don’t want to be reformed in any way, they simply set the high frequency trading algorithm to sell, creating a huge negative bias for the direction of stocks. And they’ll basically crash the market, and it will be a standoff. The market was down three days in a row, which it hasn’t been since last summer. It’s a game of chicken, till Obama says, ‘Okay, maybe we need to rethink this.’”

But the President hasn’t knuckled under yet. In his State of the Union address on January 27, he did not dwell long on the issue of bank reform, but he held to his position. He said:

“We can’t allow financial institutions, including those that take your deposits, to take risks that threaten the whole economy. The House has already passed financial reform with many of these changes. And the lobbyists are already trying to kill it. Well, we cannot let them win this fight. And if the bill that ends up on my desk does not meet the test of real reform, I will send it back.”

What this “real reform” would look like was left to conjecture, but Bob Chapman fills in some blanks and suggests what might be needed for an effective overhaul:

“The attempt will be to bring the financial system back to brass tacks. . . . That would include little or no MBS and CDOs, the regulation of derivatives and hedge funds and the end of massive market manipulation, both by Treasury, Fed and Wall Street players. Congress has to end the ‘President’s Working Group on Financial Markets,’ or at least limit its use to real emergencies. . . . The Glass-Steagall Act should be reintroduced into the system and lobbying and campaign contributions should end. . . . No more politics in lending and banks should be limited to a lending ratio of 10 to 1. . . . It is bad enough they have the leverage that they have. State banks such as North Dakota’s are a better idea.”

On January 28, the predictable reaction of “the market” was to fall for the seventh straight day. The battle of the Titans was on.

Ellen Brown developed her research skills as an attorney practicing civil litigation in Los Angeles. In Web of Debt, her latest book, she turns those skills to an analysis of the Federal Reserve and “the money trust.” She shows how this private cartel has usurped the power to create money from the people themselves, and how we the people can get it back. Her eleven books include Forbidden Medicine, Nature’s Pharmacy (co-authored with Dr. Lynne Walker), and The Key to Ultimate Health (co-authored with Dr. Richard Hansen). Her websites are www.webofdebt.com, www.ellenbrown.com, and www.public-banking.com.

Ellen Brown is a frequent contributor to Global Research. Global Research Articles by Ellen Brown

Posted in Economic Upheavals | Tagged: banking cartel, banks, credits, crisis bubble, derivatives, domination, downturn, economy, farce, finance, financial crisis, frauds, geo politics, global elite, goldman sachs, jp morgan, manipulation, plutocracy, recession, truth, wall street | Leave a Comment »

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