Make No Mistake ....
Last Udate: April 27, 2013
Who Is Calm?
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News Headlines In Mouse-Land
This financial crisis was not caused by "Greedy
Citizens" and/or by people who purchased homes which they could not afford.
The housing market in the U.S. is only worth a total of 30 Trillion dollars.
You could give every house in America away and for free and it would only
cost 30 Trillion.
It is not because "Americans Spent Too Much".
The total "Consumer Debt" in the U.S. is only 60 Trillion dollars.
could cancel every credit card debt and it is Zilch in the big picture.
It is the 6 or 7 hundred trillion dollars in "Toxic Assets" - "Credit Default
Swaps" - "Derivatives" created by the banks which caused this economic
The Troubled Asset Relief Program (TARP)
other financial institutions had invested significant amounts of money in
complicated financial assets, such as collateralized debt obligations and credit
Archive Reference: On Topic
-- Credit Default Swap - CDS
-- Interest Rate Derivative
Over-the-Counter Derivative - OTC
-- Interest-Rate Swap Agreement
Synthetic Collateralized Debt Obligation - CDO
Commentaries by various writers and media pundits.
December 29, 2008 ---
April 25, 2013
This financial collapse was seen by futurists within the American government as far back as 1980.
The "Elite" began to abandon the North American Continent and move the
accumlation of wealth offshore via Free Trade Agreements.
"Officaldom" realized that 75 million Americans were going to be lining up for social
security in 2015. (10,000 new baby boomers eligible for Social
Security and Medicare every day") Officialdom" had promised
baby-boomers 21 thousand bucks per year in retirement income and the Cookie Jar
Free Trade was about giving "Officialdom" a legal means of moving their
wealth/assets/money offshore while claiming bankruptcy in North America. All
offshore investments and wealth were not subject to legacy costs or pension
liability and retirement promises, and thus the "unfettered ability: to walk away from every
promise made to the Working Class since the end of world War II.
The U.S. Capitalists abandoned their Corporate Funded Employee Pension
Plans and burdened the U.S. taxpayer with all the promises the shareholders and
money lenders had
made to the Working Class since the end of World War II.
Archive Reference: On Topic
U.S. Finance: Pension Benefit
Articles and Commentaries by various writers
and media pundits.
October 02, 2004 --- August 22, 2012
Archive Reference: On Topic
U.S. Finance: Social Security
Articles and Commentaries by various writers
and media pundits.
September 12, 2004 ---
August 30, 2010
September 13, 2010 --- December 13, 2012
Root Causes of the Current Crisis
"During a period of strong global growth, growing capital flows, and prolonged
stability earlier this decade, market participants sought higher yields without
an adequate appreciation of the risks and failed to exercise proper due
diligence. At the same time, weak underwriting standards, unsound risk
management practices, increasingly complex and opaque financial products, and
consequent excessive leverage combined to create vulnerabilities in the system.
Policy-makers, regulators and supervisors, in some advanced countries, did not
adequately appreciate and address the risks building up in financial markets,
keep pace with financial innovation, or take into account the systemic
ramifications of domestic regulatory actions."
--G-20 Meeting - The
Final Declaration, November 14-15, 2008--
It could just as well have read:
"You asses are so stupid that you
didn't appreciate the risks or see through the fraud related to these
mortgage-backed securities. If you had done due diligence or your homework, we
couldn't have robbed you. Toxic means poisonous and you ate the poison we fed
you; so, you fools deserve everything you got."
JONATHAN RUGMAN: Greeks watching at home could see their prime
minister speaking inside parliament and pandemonium just beyond it. "We have to
stop our country from collapsing," Mr. Papandreou said, urging a yes to reforms.
And this extraordinary admission: "The financial system," he said, "is stronger
than the will of the people."
--PBS-NewsHour-News Wrap: Greece Endorses
New Austerity Measures Amid More Rioting, June 29, 2011--
The crisis has only just begun!
It is not a "Liquidity" problem .... It is an "Insolvency"
I really don't want to hear about how "We" caused or created
this economic collapse.
It was not "We".
"We" were too busy trying to pay the rent on time, so we outsourced
the country leadership to communities and constituencies.
The total blame
for this crisis lays at the feet of the "Experts" .... the top 100 thousand
corporate/banking executives and other elected/admired community leaders. Every
one of "Officialdom", and who demand such huge salaries because they are so
intelligent and that they "deserve" it .... They all failed us miserably.
It is "Officialdom" (Politicians, CommunityLeaders, and Corporate
Executives) which caused this economic crisis and not "We".
activity since 1980 has been built upon a fraud. (600 Trillion Dollars of Toxic
Thus; any wealth which the 1 percent accumulated over the past 20
years was obtained by fraudulent means.
The 1% gained their wealth by the
crime of fraud and I think this wealth should be seized in the same way we treat
drug dealers and prostitutes who live off the avails of a crime.
What we are
Hilarious or heart-breaking? Humanist or anti-humanist?
Whatever you decide, a classic nonetheless
Dance Monkeys Dance
July 09, 2006
Archive Reference: On Topic
U.S. Finance: Federal Reserve
Audio/Visual and Documents -
Articles and Commentaries by various
writers and media pundits.
January 08, 2002
--- April 15, 2007
November 19, 2008 --- April 24, 2009
May 06, 2009 --- February 01, 2010
February 03, 2010 --- November 06, 2010
November 22, 2010 --- April 24, 2012
May 21, 2012 --- March 21, 2013
Protest "Parades" are over!
that protests (parading up and down the street) are a thing of the past.
I think that every protest group or organization has been infiltrated by law
enforcement and thus it would be unwise for anybody to attend such meetings.
Infiltration of Political Movements Is the Norm in
How many agents or infiltrators can we expect to see
inside a movement? One of the most notorious “police riots” was at the 1968
Democratic National Convention. Independent journalist Yasha Levine writes:
“During the 1968 protests of the Democratic National Convention in Chicago,
which drew about 10,000 protesters and was brutally crushed by the police, 1 out
of 6 protesters was a federal undercover agent.
That’s right, 1/6th of the
total protesting population was made up of spooks drawn from various federal
agencies. That’s roughly 1,600 people! The stat came from an Army document
obtained by CBS News in 1978, a full decade after the protest took place.
According to CBS, the infiltrators were not passive observers, monitoring and
relaying information to central command, but were involved in violent
confrontations with the police.”
Peter Camejo, who ran as a Socialist Workers Party candidate for president in
1976, as a Green Party candidate for governor of California in 2003 and as Ralph
Nader’s vice presidential running mate in 2004, often told of infiltration in
his mid-’70s presidential campaign.
After campaign offices were burglarized,
Camejo was able to get the FBI into court by suing it over COINTELPRO
activities. The judge asked the FBI special agent in charge how many FBI agents
had worked in Camejo’s presidential campaign; the answer was 66. Camejo
estimated he had a campaign staff of 400 across the country. Once again that
would be an infiltration rate of about one in six. Camejo discovered that among
the agents was his campaign co-chair. He also discovered eavesdropping equipment
in a campaign office and documents showing the FBI had followed him since he was
an 18-year-old student activist.
The media only ridicules protesters and will only show the
worst-of-the-worst when broadcasting nightly news. In many cases, it is
undercover cops who are the people dressed up as hooligans which the media
Plus; The media should never be allowed to film a protest because
every inch of film will be used as evidence against the protesters in court.
Canada: Timeline: Police raids on the media
January 22, 2004
Democracy suffers under barrage of strategic lawsuits
A troubling pattern is emerging in Ontario. The right of ordinary citizens in a
democratic country to defend their communities and their land without fear of
devastating financial liability is being eroded. In addition to SLAPP suits, the
Ministry of Northern Development and Mines is backstopping uranium and platinum
exploration companies by using the court system to punish aboriginal leaders and
elders who peacefully oppose exploration and mining on their lands.
Ardoch Algonquins and Shabot Obaadjiwan are being forced by the courts to accept
uranium exploration. These are reasonable people trying to protect their lands.
The court has sentenced them to six months in jail and slapped them with
thousands of dollars in fines, with escalating fines to come. And a decision on
costs against the community is pending as well. Kitchenuhmaykoosib Inninuwug, a
remote First Nation in northern Ontario, is next to be punished for defending
its community and environment from mining. It is being sued by an exploration
company for $10 billion. And its members also face being thrown in jail and/or
By Rick Smith and Devon Page
February 26, 2008
Worse .... Your employer will see film of your participation within the
protest. As the media runs film of the protest, and if violence occurred
anywhere along the parade route, it will be your face being associated and thus
responsible for the violence.
Recently, it has been shown that the
Federal Bureau of Investigation was monitoring peaceful protesters with the
Occupy Wall Street movement before the first OWS demonstrations even began. The
FBI was actively keeping an eye on activists across the United States since
Occupy Wall Street was still in its preliminary planning stages. An inner-office
communiqué that confirms investigators were considering Occupy demonstrators in
some instances as criminals and domestic terrorists. Counterterrorism agents
were used to track Occupy activities, despite the internal acknowledgment that
the movement opposed violent tactics.
How FBI Monitored Occupy Movement
The FBI and other federal agencies
coordinated with banks and local authorities in reacting to the Occupy Movement,
which was put in the category of a domestic terrorist threat despite the group’s
advocacy of nonviolence, Dennis J. Bernstein reports.
Newly obtained secret
FBI documents show that the Feds treated the Occupy Movement as a criminal
terrorist threat even though the movement rejected violence as a tactic, a fact
that the FBI acknowledges in the files.
Mara Verheyden-Hilliard, the
executive director of the Partnership for Civil Justice Fund, which obtained the
documents, discussed the FBI disclosures in an interview with me on Pacifica
KPFA - FlashPoints
Host Dennis J. Bernstein
interviews Mara Verheyden-Hilliard
December 26, 2012
I think that protests must now be a "personal" event ....
Time" is over! Parades are for martyrs who want to be arrested.
wanted to demand that laws be immediately introduced by elected officials to
remove corporate money from elections, and also to demand that laws be enacted
to show that corporations are not persons, here is what I would do....
would threaten to slow down "Freight" (not mass transit) railway traffic across
the country. People don't need to travel to a city in order to participate in
the protest, and to slowly walk along the tracks, because there are a zillion
miles of railway tracks in North America.
80% of all goods transported
across North America is by railroad.
Railways pass through the very
center of most every city in North America.
I would think that just the
threat of adversely affecting railway traffic across North America would have
the railroad companies themselves choosing to slow the rail traffic down just as
a precaution because they don't need the adverse publicity of not valuing human
I recall when the immigrants were protesting all across the U.S. in
2006. There were peaceful protests and where immigrants simply shutdown street
traffic in major cities. Not allowing deliveries to the business sector. Within
three days, the U.S. Congress introduced a law using the term "Comprehensive
Reform" and not just "Reform".
People with a cause must choose a date
and advertise the date. People only need to know a chosen date, the specified 24
hour period. in which the demonstration might be scheduled for. And, with the
full knowledge that if the demands are not met, then a further demonstration
would take place the following month, as an example. If the date chosen was
March 15, as an example, then it must be made known that the protests will
escalate until such time as the demands are met. It must be made known that on
the 15th of every month, the protest will continue until "Officialdom" agrees to
the demands being made by the protesters. By choosing a specific date such as
"15th of each month", it prevents a continuous organizational drive each month.
Protesters would already realize what was expected as per escalation.
Then .... on that particular date, everyone across the country makes a personal
decision as to whether or not they will participate.
be a personal decision and nobody need know that you participated.
Participation would be at a time of day which suits your schedule or lifestyle.
You could slowly walk the railway tracks anywhere in the country for about half
an hour, and at 2 in the morning if you wanted to.
If yuh just found it
simpler to fumble up delivery traffic of goods and services as opposed to
railway traffic, then perhaps, a more personal activity might include the
decision to Jay-Walk on a busy street and foul up traffic ..... perhaps break a
Something along those lines.
I'd open up a YouTube
Channel named "Protest In A Day". Just like YouTube does with "Life In A Day".
And people could upload videos
of what incidents of civil disobedience they witnessed during the past 24 hours
or on the date specified or scheduled for such a demonstration.
America on Steroids
"[...] In our
drugged state, we cheer the winners in the game of wealth, the billionaires who
benefit from a skewed financial system -- the losers, we kick down the stairs.
We open fire hoses of cash into our political system in the name of "free
speech." Television stations that refuse to cover government make fortunes
selling political bromides over public airwaves. Pornography passing as
advertising assaults our senses, seduces our children, and pollutes our culture.
Partisan propaganda gets pumped up as news. We feed on the flamboyance of
celebrities. And we actually take seriously the Elmer Gantrys who use the
Christian Gospel as a guidebook to an Iowa caucus or a battle plan for the
Middle East. In the face of a scandalous health care system, failing schools,
and a fraudulent endless war, we are as docile as tattered scarecrows in a field
of rotten tomatoes."
"As for that war, you may have heard that a
quarter of the heavily-armed ‘shooters' working in the streets of Baghdad for
the Administration's mercenary Blackwater foreign legion are alleged to be
chemically influenced by steroids or other mind-altering substances."
"The day Americans don't feel strongly enough about the need for
level playing fields to fight for them -- the day when cutting corners and
seeking an edge become the national pastime -- is the day democracy will be
lucky even to find a seat in the bleachers."
PBS Bill Moyers Journal
Bill Moyers Essay
December 21, 2007
"We" can still "Shame Them".
The only way that the Poor Folks can win any battle with the Rich Folks is for
the Poor Folks to "Shame" the Rich Folks!
Sneer at the Rich
Folks .... treat them in the same way the Rich Folks have been sneering at the
Homeless People for the past 50 years .... We now need to walk past anybody who
even "Smells" of wealth while showing them our utter distain.
We need to "Shame" the Rich Folks for the wealth
inequality within our economic and political systems.
People need to realize
that just because you don't hear about the huge discontent on the streets does
not mean it does not exist ..... and in spades.
Just because the media
don't tell us that a huge majority of young people are ready to strike out at
the drop of a hat does not mean it is not a fact.
The press needs to
interview young people who can remain Anonymous and ask them questions and not
just a bunch of ol' hags who are scared stiff.
The Rich Folks are being
given a choice .....
Either to hire more police and pay more taxes to
have the police/military protect your property, or use the money to continue
social programs during this huge downturn in the economy.
It is quite a
Soon, it will not be safe for anybody to be on the streets
if only they smell of wealth.
Better that those with money stay home and
enjoy counting their money and realize that they will never be allowed to enjoy
the wealth that they have accumulated. Realize that people with bleach-filled
water pistols will destroy your favourite coat or dress as you line up at the
upperclass establishments for service.
The patriotic thing to do is for
the Rich Folks to wholeheartedly agree to an immediate tax hike in order to keep
the social programs we now have in place or suffer the consequences and
additional taxes just to pay for protection as you attempt to enjoy your wealth.
There is only one thing worse then not enjoying the "American Dream"
and that would be "Having The Dream And Then Losing It".
During the 1980's era of Free Trade, the Ruling Class and futurists within
governments knew full well that the population was not going to accept a
litany of "Broken Promises" and the loss of social spending by governments.
It was Bill Clinton who first introduced what we now know to be the Patriot
Act and it was Bill Clinton who appointed a "domestic military czar".
Presidential Decision Directive 62, Protection Against Unconventional Threats to
the Homeland and Overseas, dated May 1998.
Decision Directive 39.
During the 60's and when the young people formed a "Movement", the Ruling Class
introduced the term "Druggie" in the same way they introduced the term
"Terrorist" today. Both terms were created by fear and both terms allowed the
Ruling Class an opportunity of "Police Actions" against what was said to be a
There is no "Terrorist" threat! The word "Terrorist" is only a replacement word for
All the "Toys" which the Ruling Class required to
control uprisings and civil unrest are in place now. Every police force has been
militarized and every city has a SWAT team.
In the 1960's, and when the
"Establishment" was "Totally" Threatened by civil unrest, and by "Marching
Hippies" .... the Establishment invented the "Druggie" and began to enact laws
which they could use or implement when wanting to control (young people) a
certain segment of society. Today, the Establishment has intrduced the term
"Terrorist" instead of "Druggie" and they have enacted all the laws necessary to
control "Young People". The "Establishment" learned alot of lessons during the
1960's and have learned to "Militarize" the local commnity police stations. In
the 1970's they had hotlines where you could call and rat-out a "Suspiciously
Drugged Hippie". Anybody with shoulder length hair was targeted for "control"
and or "arrest" and investigations. Add to this coincidence, Kennedy had the
threat of "Loose Nukes" and Cuba .... just as the media is now feeding us "How
Safe Are Pakistan's Nukes? .... and, "Should We Nuke Iran?" ... echoing in the
In the early 70's, the Supreme Court of Canada said it was
illegal to stop a car on a highway and search it without just cause.
Within a week, the Ruling Class invented the "Town Drunk" as being the largest
threat to mankind, just as a terrorist is said to be today.
began to advertise the "Town Drunk" threat during the Christmas Season and with
pictures of children whose parents were killed by a drunk.
were set up to stop cars without just cause.
Within a year, RIDE programs
began to appear on May 24th weekend.
Now they are daily events.
That is how the Ruling Class introduced laws to stop and search people without
And we all praised them for saving us from ourselves. Just as
we are doing with anti-terror laws. (Why didn't they Just pass a law and where
parking lots at bars and nightclubs were not allowed?)
economy worsens, the Occupy Movement is the worse threat facing the Ruling Class
Terrorism is a
tactic, not an entity .... Terrorism is a tool, not an ideology .... Terrorism
is an act of political propaganda.
The "War On Drugs" did not prevent a bale of
Mary-Do-You-Wanna from being transported across the country and across borders
.... how are we ever going to stop a terrorist from travelling around
The two-million strong Home Land Security Department and its agencies were
found to have no forewarning of the Newtown school shooting incident.
It is trains which are more dangerous than airplanes.
Trains carry hundreds of tank cars which contain the most deadly gasses and
chemicals known to mankind. These tank cars pass through every major city in
Canada and are capable of killing millions of people. Every tank car on the
train is a potential WMD. 90-ton rail tankers filled
with deadly chemicals and other hazardous materials roll slowly through our
major cities every day over unprotected and unguarded rails, with no warning to
those communities, and we are worried about some airplane. An assault on a
chlorine tanker could create a toxic cloud extending up to 15 miles. It is
estimated that up to 100,000 people could be killed or injured in less than a
half-hour by such an attack. The federal government has "essentially done
nothing" to reduce this threat.
Investigation reveals major gaps in railroad security
There are thousands
of miles of track, most of it unguarded. And traveling on them are 10,000-ton
Hosts Dan Lewis and Mary Nam
Correspondent: Liz Rocca
November 08, 2011
Think Like a Terrorist
Why has investigative
reporter Carl Prine been hailed as a truth-teller by some and attacked as an
abettor of terrorists by others? What did his stories in the Pittsburgh
Tribune-Review reveal about security conditions at some of the nation's chemical
plants and storage facilities?
Reporter Carl Prine of the Pittsburgh
Tribune-Review reveals security shortfalls in the nation's chemical plants.
PBS Expose Episode 201
Produced By Joe Rubin
Narrated By Sylvia Chase
June 22, 2007
Part I of II
Part II of II
Carl Prine expands his investigation to include the
transport of deadly toxics via the U.S. railways.
In 2006, Pittsburgh
Tribune-Review reporter Carl Prine resumed his investigations of chemical safety
in the United States, this time focusing on the nation's railroad transportation
system. Prine discovered that trains loaded with toxic and explosive chemicals
pass through major metropolitan areas with inadequate or no security, and in
some areas present a target extremely vulnerable to terrorist attack. During his
investigation, Prine visited Seattle, Tacoma, Atlanta, Pittsburgh, Las Vegas,
San Francisco's Bay Area, and parts of New Jersey. EXPOSÉ returns with Prine to
Las Vegas and other locales, where he demonstrates just how easy it is to access
the rail cars carrying potentially lethal chemicals.
EXPOSÉ also speaks with
Senator Joseph R. Biden, Jr. (D-DE) who discusses the rail security bill
inspired by Prine's reporting.
June 29, 2007
The No-Fly List is a ruse.
It is important for the Ruling Class to prevent "Professional" protesters
from travelling around the country like they did in the 1930's, except they did
it by railway. And, most importantly, the Rich Folks need the ability to travel
without being harassed. The Rich Folks will be given a "Special" queue so as to avoid
confrontations by protests. (Gated Communities and Gated Airports)
During the depression, the cops only needed to
stand outside the train station and see who got on or off the train. It was very
easy for the cops to beat down homeless people in Winnipeg train stations,
and/or have Patton and Eisenhower ride into homeless tent camps in Washington
and burn them down.
The Plot To Seize The Whitehouse
By Jules Archer
The reason that the RCMP became an important and indispensable asset to the
Federal Government was because in May 1919, they "Excelled" at beating unemployed protesters
The Mounties in Alberta and Saskatchewan had increasingly focused their
resources upon those outside the middle-class and ethnic mainstream: left-wing
radicals who challenged the status quo, ethnic groups who refused to assimilate
to the Anglo-Canadian ideal, other minorities who practiced activities deemed
immoral by the Canadian majority, and workers of the employed and unemployed
variety who protested against economic inequality. In doing so, Mounted
Policemen made themselves indispensable to the Canadian state, ensuring the
force's survival and turning it into one of the world's most powerful police
The "No-Fly" List is to prevent "Organized"
protests and keep the "Professional Protesters" (activists) from travelling
around the country and speaking in different communities. They are now placing
body scanners in bus depots and train stations.
Imagine having more than a
million "Suspected Terrorists" on the No-Fly List?
Why aren't the "Suspected
Terrorists" arrested and charged right today if they are a threat? Why are these
suspected terrorists allowed to drive their cars on highways but not to be
trusted getting on a plane?
Perhaps this was a genuine terrorist act:
The figure of 27,785 deaths caused by Vioxx is almost 10 times the number
of people killed by terrorist attacks on the World Trade Center. It doesn't take
into account the estimated 100,000 people disabled by heart attacks and strokes.
On the aniversary of the September 11 terrorist attacks the TV news shows a
woman reading aloud the names of those killed in the attack. No one ever reads
aloud the names of Merck's victims. Merck was not denounced as a terrorist
organization. The U.S. government continues to do business with Merck.
Terrorists wreak death and destruction intentionally, claiming they have some
noble purpose. The dangers of Vioxx were not unknown to Merck, they were ignored
because profits loomed. Merck execs knew from an early clinical trial that Vioxx
caused coronary damage. Once the drug was on the market, Merck intentionally
suppressed data showing it caused strokes and heart attacks at twice the normal
rate. Dorothy Hamill twirled on the ice and "It's a beautiful morning" lilted
from every TV in the land as Merck pushed a drug that CEO Ray Gilmartin and the
other top bosses knew would kill people
Archive Reference: On Topic
U.S. Martial Law : Civil Unrest : Occupy Wall
Street Movement : The War At Home
Articles and Commentaries by various writers and
2000 - October 13, 2005
October 14, 2005 ---January 31, 2007
January 26, 2007 --- June 03, 2008
June 03, 2008 --- March 04, 2009
March 16, 2009 --- January 29, 2010
January 29, 2009 --- December 20, 2010
January 10, 2011 --- May 15, 2011
October 09, 2011 --- October 30, 2011
November 23, 2011 --- February 06, 2012
February 06, 2012 --- August 08, 2012
September 07, 2012 --- December 26, 2012
Archive Reference: On Topic
U.S. Justice: Flash Mob - Gang Violence
Articles and Commentaries by various
writers and media pundits.
August 15, 2011
--- July 31, 2012
Anger Mounting Toward Government
Americans Express Historic Negativity
Toward U.S. Government
Several long-term Gallup trends at or near historical
By Lydia Saad
September 26, 2011
A record-high 81% of Americans are
dissatisfied with the way the country is being governed, adding to negativity
that has been building over the past 10 years.
Democrats (65%) and Republicans (92%) are dissatisfied with the nation's
governance. This perhaps reflects the shared political power arrangement in the
nation's capital, with Democrats controlling the White House and U.S. Senate,
and Republicans controlling the House of Representatives. Partisans on both
sides can thus find fault with government without necessarily blaming their own
Capitalists must be chuckling aloud .....
The media constantly informs
us that the protesters are complaining about the faults of capitalism, while all
the while the media knows full well that Capitalism is passé. ..... Because the
Capitalists have moved on to "Globalization". The Capitalists moved on and
polluted every bank vault on the planet with worthless derivatives, and under
the guise or the pretense of a "Free Market Economy"
The protesters need
to begin using the term "Globalization" or they will be stuck with ancient
capitalist arguments presently being fed to us by the corporate media.
The "Criminal Network Broadcasting Consortium" (aka: CNBC aka: Criminal News
& Bankster Crimes) are
pleased to announce their upcoming investigative show
about how their masterful propaganda to the
masses graduated to form
capitalist ideologies and which has now constructed right wing delusions.
History has many examples of economical and/or societal collapse.
Free Trade was
not about the trade of manufactured goods. As an example; China can sastify the
North American refrigerator market with just what falls off the assembly line.
According to the National Academies, the U.S. is graduating 70,000 engineers
a year. By comparison, the Chinese are graduating 600,000 a year, the Indians
China has a workforce of 300 million employees that will work for one dollar a
day and no benefits.
Free Trade was all about the ability to move money
and wealth off the North American Continent. The ability to Abandon the North
American Continent with the unfettered ability to move assests and wealth off
The largest export which the U.S. has with China is "Waste Paper
and Scrap Metal".
Just as America is doing now, from 1883 to 1913, as the British Empire was
failing, it increased its dependence on imported goods following the
introduction of free trade. And during this time, the "Capitalists" abandoned
the England and moved their wealth and assets into North America.
Empire Like No Other By John Derbyshire
September 01, 2003
America aping Britain's decline through free trade
By Ian Fletcher
September 29, 2010
Oil and the origins of the 'War to make the world safe for Democracy'
F. William Engdahl
June 22, 2007
About 1870 the German Reich emerged as a new economic player on the map of
Continental Europe in the same way that China is doing so at this moment in
In August 1914, Britain declared war against Germany in an attempt
to stop the development of Germany’s economy which was a threat to British
Immediately following the end of World War I, Britain collapsed
as an "Economic Power" and America became the dominant world power.
Balfour agreement (1917) initiated by the British and giving the Jewish Folks a
home in Palestine was in return for Jewish Banking assistance during World War
Britain’s World War II costs were financed by American banks and
Britain did not complete repayment of these American loans until December 2006.
An Ottoman warning for indebted America
Future historians will look back
on the current decade as a turning point comparable with that of the Seventies.
No, not the 1970s. This is not going to be another piece pointing out the
coincidence of an unpopular Republican president, soaring oil prices, a sagging
dollar and an unwinnable faraway war. I am talking about the 1870s.
sight, the resemblances across 130 years may not seem obvious. The 1870s were a
time when conservative leaders such as Benjamin Disraeli, British prime
minister, were powerful and popular. It was a time of falling commodity prices,
after the financial crash of 1873 and the opening up of the American plains to
agriculture. And it was an era of currency stability, as one country after
another followed the British lead by pegging to gold.
Yet, on closer
inspection, we are indeed living through a global shift in the balance of power
very similar to that which occurred in the 1870s. This is the story of how an
over-extended empire sought to cope with an external debt crisis by selling off
revenue streams to foreign investors. The empire that suffered these setbacks in
the 1870s was the Ottoman empire. Today it is the US.
By Niall Ferguson
January 01 2008
"Capitalism will never fail because socialism will always be there to
bail it out."
"History is littered with
post-crisis regulations. If there are undue restrictions on the operations of
businesses, they may view it to be their job to get around them, and you sow the
seeds of the next crisis."
--Liz Ann Sonders, chief investment analyst,
CharlesSchwab & Co., a leading US provider of investment services.--
"We have to tolerate the inequality as a way to achieve a greater prosperity and
opportunity for all."
--Lord Brian Griffiths, Goldman Sachs
international advisor, 2009--
"The modern conservative is engaged in
one of man's oldest exercises in moral philosophy; that is, the search for a
superior moral justification for selfishness."
"For in every city these two opposite parties (people v.
aristocracy) are to be found, arising from the desire of the populace to avoid
oppression of the great, and the desire of the great to command and oppress the
people.... For when the nobility see that they are unable to resist the people,
they unite in exalting one of their number and creating him prince, so as to be
able to carry out their own designs under the shadow of his authority."
--Machiavelli, The Prince, Chap IX--
"We have stricken the shackles
from 4,000,000 human beings and brought all labourers to a common level, but not
so much by the elevation of former slaves as by reducing the whole working
population, white and black, to a condition of serfdom. While boasting of our
noble deeds, we are careful to conceal the ugly fact that by our iniquitous
money system we have manipulated a system of oppression which, though more
refined, is no less cruel than the old system of chattel slavery."
"The pot was empty,
The cupboard was bare.
What’s the matter here?
I’m waitin’ on Roosevelt, son,
Waitin’ on Roosevelt, son."
"Various figures denote vexing social problems. They include 10,000 (the
number of new baby boomers eligible for Social Security and Medicare every day),
10.2 percent (what the unemployment rate would be if 1.2 million discouraged
workers had not recently stopped looking for jobs), $9.9 trillion (the
Government Accountability Office calculation of the gap between the expected
revenue and outlays for state and local governments during the next 50 years),
$76.4 trillion (the GAO's similar estimate of the federal government's 75-year
--George F. Will, For black children, daunting
divides in achievement and family life, August 29, 2010--
-- $13.9 trillion for Social Security;
-- $18.4 trillion for prescription drugs
-- $73.3 trillion for
Total: $105.7 trillion.
Obamacare Targets Entitlements, October 21, 2009--
The $1.3 trillion budget deficit would be $4.2 trillion if the change in
the current cost of Social Security and Medicare promises during fiscal 2011
The typical U.S. household has been promised retirement
payments totaling $1.2 million, more than 1,200 percent of its median net worth
The current costs of Medicare and Social Security total $33.8
trillion, which is more than 1,400 percent of the federal government’s 2011
--Bryan R. Lawrence, The trillions the government doesn’t account
for, March 01, 2012--
U.S. funding for
future promises lags by trillions
Medicare: $24.8 trillion
Obligation per household: $212,500
Social Security: $21.4
Obligation per household: $183,400
debt: $9.4 trillion
Obligation per household: $79,900
Military retirement/disability benefits: $3.6 trillion
per household: $31,200
Federal employee retirement benefits:
Obligation per household: $17,000
local government obligations: $5.2 trillion
Obligation per household:
--Dennis Cauchon, U.S. funding for future promises lags by trillions,
June 06, 2011--
Archive Reference: On Topic
Finance: How Much Is A Trillion Dollars?
Articles and Commentaries by various
writers and media pundits.
$114,500,000,000,000. - US unfunded liabilities
To the right you can see the
pillar of cold hard $100 bills that dwarfs the
WTC & Empire State Building -
both at one point world's tallest buildings.
If you look carefully you can
see the Statue of Liberty.
Source: Federal Reserve
A National Debt Of $14
Trillion? Try $211 Trillion
DAVID GREENE, host:
Now, S&P says this downgrade might not even be the last one if the nation's debt
keeps ballooning. So how to turn this around? Listen to the prescription from
Boston University economist Laurence Kotlikoff.
What you have to do is either immediately and permanently raise taxes by about
two-thirds, or immediately and permanently cut every dollar of spending by 40
percent forever. So I'm talking about cutting Medicare benefits, Medicaid,
Social Security, defense spending, you name it, by 40 percent forever, starting
today. That's what the CBO's numbers say we have an absolutely enormous problem
DAVID GREENE: Big tax increases, huge cuts to
military spending and entitlement programs - good luck getting that through
Congress - and the problem Kotlikoff says is a whole lot bigger than this $14
debt we've been talking about.
LAURENCE KOTLIKOFF: If you
add up all the promises that have been made for spending obligations, including
defense expenditures, and you subtract off all the taxes that we expect to
collect, the difference is 211 trillion. That's the fiscal gap. That's our true
DAVID GREENE: It's a big number. Why aren't
we hearing more about that as these big debates and all the drama go on in
LAURENCE KOTLIKOFF: Well, the politicians have
chosen their language carefully to keep most of the problem off the books, and
they've done this for decades. So this is Enron accounting to the 10th power, I
mean, millionth power, actually.
DAVID GREENE: Quite a
LAURENCE KOTLIKOFF: Well, it's, you
know, it's true. Why are these guys thinking about balancing the budget? They
should try and think about our long-term fiscal problems. We've got 78 million
baby boomers who are poised to collect, in about 15 to 20 years, about $40,000
per person. Multiply 78 million by 40,000, you're talking about more than $3
trillion a year in today's dollars just to give to a portion of the population.
That's an enormous bill that's overhanging our heads, and Congress isn't focused
DAVID GREENE: So Americans just watch this drama
play out in Washington. I mean, is your message to them that this was all just a
LAURENCE KOTLIKOFF: This is a sideshow.
The Democrats and Republicans have been having a food fight for decades.
Underneath that fa ade of conflict, what's really going on is that older
generations are taking from young generations on a ongoing basis. And we've
consistently done too little, too late, looked too short-term. Well, guess what?
You can't keep putting off these problems. And we've used language to disguise
what's really going on here, which is this mess of Ponzi scheme.
DAVID GREENE: We've been speaking to Laurence Kotlikoff, professor of
economics at Boston University. He joined us from member station WBUR in Boston.
Thank you so much, professor.
LAURENCE KOTLIKOFF: My pleasure.
NPR - All Things Considered
Host David Greene interviews Laurence Jacob
August 06, 2011
The U.S. Debt Is Actually 200 Trillion
The actual figure of the US' national debt is much higher
than the official sum of $US13.4 trillion ($14.3 trillion) given by the
Congressional Budget Office, according to analysts cited on Sunday by the New
In 1980, the debt - the accumulated red ink incurred by the
Federal Government - was $US909 billion.
This represented some 33 per cent
of gross domestic product, according to the Congressional Budget Office (CBO).
Thirty years later, based on this year's second-quarter numbers, the CBO said
the debt was $US13.4 trillion, or 92 per cent of GDP.
The CBO estimates the
debt will be at $US16.5 trillion in two years, or 100.6 per cent of GDP.
these numbers are incomplete.
They do not count off-budget obligations such
as required spending for Social Security and Medicare, whose programs represent
a balloon payment for the Government as more Americans retire and collect
Mr Kotlikoff says the debt is actually $US200 trillion.
Moylan says the number is likely about $US60 trillion.
US Government 'hiding true amount of debt', September 20, 2010--
Debt crisis looming as Washington hides the real fiscal cliff numbers
US national debt is twenty times higher than is officially reported, approaching
$222 trillion, and today’s children could soon be paying their parent’s debts,
reputed American economist Laurence Kotlikoff told RT.
Kotlikoff, the true extent of the growing fiscal gap has been concealed by
Washington for years, a process that could ultimately result in debt disaster:
China and Japan, top American money-lenders, could simply stop the cash flow.
Moreover, in the last few years the Federal Reserve has raised the base
money cap from $800 billion to $3 trillion, creating the foundation for possible
hyperinflation, Kotlikoff said. The whole situation remains unnoticed by the
public while politicians try to avoid the problem, leaving it to future
generations to reach a solution.
SOPHIE SHEVARDNADZE: Laurence
Kotlikoff, Economics Professor at Boston University, pleasure to have you with
LAURENCE KOTLIKOFF: It’s great to be with you and great to
be in Russia.
SOPHIE SHEVARDNADZE: You’re the one who stated that
America is rogue and in even worse state than Greece and Ireland. How so? What
exactly do you mean by that?
LAURENCE KOTLIKOFF: Laurence Kotlikoff:
Well, we economists look at all the bills the government has to pay, and in the
US case we have enormous bills that have been kept off the books. They’re not
the official debts, but they are very real. For example, paying me my social
security benefits, my old-age pension – that’s a real obligation. It’s not part
of the official government debt, but it’s very important because there are 78
million baby boomers who’re going to get their social security payments, and, in
addition, medical payments from the government. If you look at all those
payments, they are about $3 trillion a year. So we have these huge bills, nobody
has thought about paying for them, and Congress and the presidents over the
years have just focused on official debt, and basically have not told the public
about these big bills.
SOPHIE SHEVARDNADZE: You said the amount of the
fiscal gap in the United States is, in your estimation, $222 trillion. This is
an astonishing number, which is like three times the world GDP. This is more
than what the world makes.
LAURENCE KOTLIKOFF: Twenty times higher
than the official debt in the hands of the public, which is $11 trillion. So if
you add all the spending obligations into the distant future, and you compare
them with all the taxes, and you include in the spending all the interest
payments, and principal payments on the debt, and the official debt, you have
$222 trillion of present value. Now, this is 12 per cent of GDP on an ongoing
basis, and we need to get 12 per cent more in GDP either in tax increases or
spending cuts in order to have the fiscal gap in zero.
We’re doing far too
little, too late. It’s like operating on a person with cancer, and you say,
“Well, there’s a big tumor here, we’re just going to take a little bit out
today, and we’ll come back in five years, and we’ll take out some more.” But
maybe in five years the patient is dead because the tumor got bigger. So this is
why we are in worse shape than Greece – in Greece, it’s about 10 per cent of GDP
they need on an ongoing basis, in Italy it’s about 5 per cent, in Germany it’s
about 5 per cent. So when you look at it from this perspective, it’s a whole
different story than if you look just at the official debt because these
governments are making choices what to call official obligations, and what to
SOPHIE SHEVARDNADZE: So are they intentionally hiding
the enormity of it?
LAURENCE KOTLIKOFF: They’re intentionally hiding
this. They’ve been spending in our country six decades, running a massive Ponzi
scheme, taking from young people, giving to old people, and then telling the
young people, “Don’t worry, you’ll get yours when you’re old,” promising
pensions, promising healthcare benefits. And you know this is happening in all
countries. Russia has a pension system, but it doesn’t seem to be in better
shape than ours in terms of paying for its benefits in the future.
SHEVARDNADZE: I mean, this number – $222 trillion – where exactly is this
money going, who is spending it? I mean, certainly not the average American.
What is it, 1 per cent of the superrich? The military?
Well, you’ve got a lot of old people now, they are getting very high benefits,
about $30,000 per person. It’s scheduled to go up to $40,000 when I retire,
which is about 15 years. So you see we’re just very generous to the old people
in our country.
SOPHIE SHEVARDNADZE: What do you suggest: cut
spending, raise taxes? They would be suicidal to any American president.
LAURENCE KOTLIKOFF: If we’re running the country, we have to act like adults
because our main responsibility as adults is to make sure our kids have a good
future. So we have to reduce the growth rate of the benefits to the elderly, and
that requires being much more careful about how much we spend on healthcare
because the healthcare benefits have been growing at twice the growth rate of
per capita GDP for 40 years. So it can’t continue because it’s going to kill the
country. We have a huge problem, it’s being hidden, it’s not being described and
discussed and disclosed.
SOPHIE SHEVARDNADZE: You just mentioned that
you need to take care of the future generations, ‘clash of generations’ was the
term you used to describe what future awaits the American children paying up the
debts of their fathers, but the United States when you look at it, really has
lived on debt ever since WWII, and increasingly so in the past 30 years, and
they have somehow managed not to collapse. Why do think that the new generation
will manage it?
LAURENCE KOTLIKOFF: Well, over time, the official debt
will become a bigger and bigger share of GDP, and at some point the Chinese and
other people will stop lending us money, and our interest rates will go up
dramatically. We’ll have a bond market collapse and, at that point, the deficit
will get even bigger. The official debt will cumulate even more rapidly. And our
government is also printing a lot of money to pay for these bills. So I see big
problems, and they might not be in 30 years, they might be in five years or two
years. The Chinese and other people start to understand how bad the situation
is. And then we will be in situation of Greece where people won’t lend us money
and then we will have to make big cuts and everybody will be injured.
SOPHIE SHEVARDNADZE: You mentioned China and Japan – they top the list of
American lenders. It’s more than $1 trillion of US debts. Should they get used
to the idea they are not getting their money back? They can’t just come out and
say: “Hey, I want part of American GDP.”
LAURENCE KOTLIKOFF: If I were
anybody – whether Chinese, Japanese or Russian – I would not be buying 30-year
US government treasury bonds. They are yielding 3.5 per cent or something right
now because we have printed so much money since 2007 – it’s really unbelievable.
The Federal Reserve has tripled what is called ‘the base money’ – the basic
money supply, the monetary base. It’s actually gone from $800 billion to about
$3 trillion now. This is more than tripled. So we have the basis in place for
more than tripling the price level right now. We have created the foundation for
hyperinflation. And the baby-boomers have yet to retire. So right now 12 per
cent of all the federal spending is based, being financed and paid for by just
printing new dollars – that is what is going on.
So we are acting very much
like a developing country in terms of actual finances. I have been concerned
about this and writing about it and speaking about it since the late ’80s. The
other economists said about it as well as some politicians, but it’s getting
worse. It’s not like anybody’s actually looking carefully at these numbers. The
politicians are looking at the official debt numbers and are not really
discussing the magnitude of what is coming.
SOPHIE SHEVARDNADZE: A lot
of people like you who are critical of the current American financial system
have come out in the street. The Occupy Wall Street movement voiced their
concerns and protests. Do you think a movement like this is actually capable or
able to solve real issues or is it just a red herring?
Well, Occupy Wall Street was concerned about inequality, and they were concerned
about what Wall Street was actually doing. And I think we need to radically
change our financial system because we have too big problems. And this is true
in every country including Russia. The traditional banking system, the model, is
on a very high leverage. Banks borrow a lot of money, promise to repay and then
there is opacity – they take the money and they do something with it but they
are not telling you what they are doing with it. So people get very concerned at
some points about whether the banks actually can repay. And then you can have
runs on the bank, just overnight.
So it’s a very unstable situation when you
promise people things and then you don’t show what you are doing with their
money. And that’s what happening with Lehman Brothers and Bear Sterns and
Merrill Lynch – these companies went under one after the other. Everybody
started worrying because they couldn’t see the assets. So what we need to do is
get rid of this “faith-based banking”. We need to have no leverage and we have
to have transparency. The government has to disclose what the assets are. The
government has to do verification and disclosure.
We should have the
government agency verify that somebody’s mortgage is actually a reasonable
mortgage: that person has a job, that person has an income, that person’s house
which is collateral to the mortgage has actually this value. So we should not
have any liar loans. And we should also have all the banks become what are
called ‘mutual funds’ which just sell shares to these funds. They take all the
money on an equity basis. They don’t borrow money – they just sell shares of
stock: the money comes in and then they buy these disclosed assets – the
mortgages, for example. If you have equity-based finance and then if the
mortgages don’t work out, somebody doesn’t repay, the shareholder takes a loss,
but the financial intermediary, which is a mutual fund, never fails and never
goes bankrupt. So you have a banking system that can never fail. If it’s made of
equity finance and mutual funds who are buying transparent fully-disclosed
assets – that’s what we need.
The protesters of Wall Street didn’t know what
they wanted, but this is what they need. Now what we need is also protesters
among the young about their fiscal treatment – that’s a different thing.
SOPHIE SHEVARDNADZE: That’s the thing. The fiscal cliff and the possibility
of America defaulting that we hear a lot around us – is this symptomatic agony
or is it maybe artificial political crisis?
LAURENCE KOTLIKOFF: I
think the young people don’t fully understand how they are being treated. In the
debates, in the entire campaign, not one of these two candidates talked about
the magnitude of the problem. President Obama said that our social security
system, our basic government pension system has a small problem that needs to be
tweaked, is what he said. If you actually look at the system and at the trustees
report, the thing is 31 per cent underfinanced. So it’s not a small problem.
According even to social security actuaries. It’s a huge problem. So he is on a
different planet from the reality.
Romney felt we could just lower taxes and
get more revenue. So he was equally, you know, crazy on this stuff. And
unfortunately we have children whose future is at stake here. And they are also
under a lot of pressure in other ways because they are competing with other
people all over the world and they are also competing with these new smart
machines that are taking people’s jobs away. So in our country when you go to a
grocery store or a drug store the checkout person is a machine: there is nobody
working there, it’s just a machine these days. There is actually maybe one
person to help you use the machine. And that replaced a lot of jobs, so we have
young people who are having troubles finding jobs. Even college graduates are
SOPHIE SHEVARDNADZE: Laurence Kotlikoff, thank you
very much for a very interesting insight you gave us on the ongoing financial
crisis and it’s great to have you with us again.
My pleasure. Thank you.
RT - Interview
Host Sophie Shevardnadze interviews
Laurence Jacob Kotlikoff
February 05, 2013
"One evening an
old Cherokee told his grandson about a battle that goes on inside people.
said, 'My son, the battle is bet ween two wolves inside us all. One is Evil. It
is anger, envy, jealousy, sorrow, regret, greed, arrogance, self-pity, guilt,
resentment, inferiority, lies, false pride, superiority, and ego.
is Good. It is joy, peace, love, hope, serenity, humility, kindness,
benevolence, empathy, generosity, truth, compassion, and faith.'
thought about it for a minute and then asked his grandfather: 'Which wolf wins?'
The old Cherokee simply replied, ‘The one you feed.’"
--The Rev. Kealahou C.
Alika, Keawala‘i Congregational Church, United Church of Christ (USA), January
Financial Crisis and Social Friction
BNN - Business News
Host Howard Green
Thomas H. Bender
March 19, 2009
"For a riot to begin, it is necessary but not sufficient that there be many
people who want to riot and who believe that others want to riot too. One more
hurdle has to be overcome. Even in an unstable gathering, the first perpetrator
of a misdemeanor is at risk if the police are willing and able to zero in on
him. Thus, someone has to serve as a catalyst–a sort of entrepreneur to get
things going–in Buford’s account usually by breaking a window (a signal that can
be heard by many who do not see it).
In civil rights, anti-war or
anti-abortion marches, it is probably pretty common to find participants eager
to expose themselves to arrest in exchange for the chance to optimize the
desired impact of their protest. This sort of self-sacrifice is certainly rare
in ordinary riots, where potential rioters’ behavior is consistent, we suppose,
with something like the following calculation: “If somebody else gets the riot
started, I can participate without much risk. But if I stick my neck out and
nobody follows, I’ll be the only one arrested. So I’ll wait for somebody else to
go first.” If every would-be rioter reasoned thus, nobody would cast the first
stone, and the riot would not ignite. This is a typical free-rider problem, as
economists have called it. It is usually sufficient to prevent riots from
occurring, even where there is a plentiful supply of disposed participants.
Riots await events that surmount the free rider problem."
"Have you ever
though about the meaning of the phrase, "law enforcement agency," the phrase
used to identify police of various kinds? If you have, you surely realize that
it makes no sense. Police do not enforce, that is, make people obey, the law. In
fact, police have nothing to do until the law has been broken. A society of
lawful people needs no police, and the more police a society needs, the more
lawless it is. Police are not agents of order; they are agents of retribution.
And lawlessness in a society is not an indictment of people, it is an indictment
of government. A well governed, well ordered society needs no police or guard
--Professor John Kozy, Nation of Laws and Lawlessness: America is
Policing Itself and the World, April 16, 2010--
Archive Reference: On Topic
U.S. Justice: Police Force
Articles and Commentaries by
various writers and media pundits.
"Get off this estate."
"Because it's mine."
you get it?"
"From my father."
"Where did he get it?"
"And where did he get it?"
"He fought for it."
fight you for it."
Can anyone provide an example in history and where the Rich Folks ever
gave anything to the Poor Folks without the threat of violence?
anybody really think that Roosevelt introduced the "New Deal" because it was
"Kind To Animal Week"?
"It's worth remembering that America has faced
moments like this before and those moments have produced some of the most
important progressive victories in the history of this country.
Now, I want
to return, I want to bring our minds back to another moment of profound crisis
after the market crash of 1929. That was the moment that created the New Deal.
And, it didn't happen because FDR was a great guy. It happened because
people in this country were so radicalized, were so determined, were so
organized, that he was able to sell the new deal to the elites as a compromise
because the alternative was revolution."
--Naomi Klein, National
Conference for Media reform, June 07, 2008--
Without the threat of
violence, the Ruling Class ignores you.
The Machine" Or How To Demoralize A Movement
"....The organizers have
misunderstood the messages of Gandhi and King. They are trying to make
resistance harmless and turn it into a circus sideshow. Both violent and
nonviolent tactics are necessary to end the corporate ownership of our
Members of the liberal intelligentsia, the liberal elite, are
often heard to say things like "violence begets violence" or "if you use
violence against exploiters, you become like the exploiter". Where they got such
notions no one seems to know. They probably picked them up on sale at the same
place where they got the ideas that the nonviolent antiwar demonstrations of the
60s and 70s had something to do with ending the Vietnam War or that the
nonviolent demonstrations of Martin Luther King resulted in the civil rights
legislation of the 60s. The same superstore of revised history also sells an
interesting yarn about how the nonviolent demonstrations of Mohandas Gandhi
brought about Indian independence.
By John A. Murphy
October 07, 2011
20-year-old Elizabeth Nichols
A police officer deployed pepper spray at SW
Yamhill, between the JP Morgan Chase bank and Pioneer Courthouse Square. The
photo was taken from the southeast corner of the square, looking toward the
intersection of 6th and Yamhill after a day of marching through downtown
Portland, Ore., by Occupy Portland participants.
By Randy L. Rasmussen
November 17, 2011
UC Davis Police Lt. John Pike uses pepper spray to move Occupy UC Davis
protesters who were blocking officers' attempts to remove arrested protesters
from the Quad on Friday afternoon.
By Wayne Tilcock
November 18, 2011
"Kind words and a machine gun will get you more than kind words alone."
Professor, will you tell these people who is in charge on this island?
Professor: Why, no one.
Skipper: No one?
Thurston Howell III: No one? Good heavens, this is anarchy!
--Gilligan's Island, episode #6, "President Gilligan"--
Quiz: What kind of Anarchist are you?
It's about demographics.
There are alot of young people in our society. Not as many as there was
during the 60's and 70's .... but the largest group of young people since
then. Employment prospects for young people is the worst it has been since 1948
and becoming worse.
That is the problem.
In a sense, it could
very easily become Kent State overnight. Schools and campuses could be taken
over by activists just like during the 60's and 70's.
- Unemployment Rate
1929 - 3.2%
1930 - 8.7%
1932 - 23.6%
1933 - 24.9%
1934 - 21.7%
1935 - 20.1%
1936 - 16.9%
Young people today will be named as "Anti-Semetic Terrorists" simply because
many Jewish Persons are gainfully employed on Wall Street.
backlash has begun
October 21, 2011
Yes, there always
going to be rich and poor. But we used to live in country where rich owned
factory and make 30 times what factory worked make. Now we live in country where
rich make money by lying about value of derivative bonds and make 3000 times
what factory worker would make if factories hadn't all moved to China.
Capitalism great system. We won Cold War because people behind Iron Curtain look
over wall, and see how much more plentiful and delicious cookies are in West,
and how we have choice of different bakeries, not just state-owned one.
It great system. It got us out of Depression, won WWII, built middle class,
built country's infrastructure from highways to Hoover Dam to Oreo factory to
electrifying rural South. It system that reward hard work and fair play, and
everyone do fair share and everyone benefit. Rich get richer, poor get richer,
everyone happy. It great system.
Then after Reagan, Republicans decide to
make number one priority destroying that system. Now we have system where
richest Americans ones who find ways to game system - your friends on Wall
Street - and poorest Americans ones who thought working hard would get them
American dream, when in fact it get them pink slip when job outsourced to
10-year-old in Mumbai slum. And corporations have more influence over government
than people (or monsters).
It not about rich people having more money. It
about how they got money. It about how they take opportunity away from rest of
us, for sake of having more money. It how they willing to take risks that
destroy economy - knowing full well that what could and would happen - putting
millions out of work, while creating nothing of value, and all the while crowing
that they John Galt, creating wealth for everyone.
That what the
soul-searching about. When Liberals run country for 30 years following New Deal,
American economy double in size, and wages double along with it. That fair. When
Conservatives run country for 30 years following Reagan, American economy double
again, and wages stay flat. What happen to our share of money? All of it go to
richest 1%. That not "there always going to be rich people". That unfair system.
That why we upset. That what Occupy Sesame Street about.
Priceless: How The Federal Reserve Bought The
By Ryan Grim
September 07, 2009
If you cover Wall Street, should you
take Wall Street speaking fees?
By Paul Starobin
JPMorgan Chase Acquires Bear Stearns In
Tedious-To-Read News Article
volatile market reacts to news of the Bear Stearns fire-sale deal with a
surge in stock prices but reduced bond yield, officers from JPMorgan Chase
announced Monday that they were close to finalizing plans to purchase the
securities giant in an incredibly complex series of financial maneuvers and
obscure legal jargon that can only be described in the most mind-numbingly
dense and unreadable way. Successfully adding yet another infuriating block
of text to an already indecipherable paragraph, some investors said they
hoped to stave off bankruptcy for Bear Stearns, which, during last year's
impossible-to-write-about mortgage crisis, saw its value depreciate almost
as quickly as readers' interest in this story. "Critics on the equity side
have no economic standing because the deal valuation is based on intrinsic
pricing models," said analyst Jack Pinard, only further bogging down the
news for anyone who might be remotely interested in grasping what the fuck
is going on. While speculation spread on Wall Street that shareholders might
angle to boost the selling price beyond JP Morgan's very low but federally
guaranteed bid, others claimed to be absolutely amazed that you even made it
to the end of this sentence.
March 21, 2008
Modern Monetary Theory
Max Keiser talks to Dr. Michael Hudson about
Modern Monetary Theory at the University of Missouri, Kansas City, and about the
Chicago Boys gutting the economic competition, literally.
RT - The Keiser Report
Host Max Keiser interviews Michael Hudson
March 08, 2012
Credit Rating Agencies:
At the very core of the "U.S. Capitalist System" are the credit rating
agencies. Standard and Poor or Moody's and The Clowns.
For the Financial
System to garner any faith or confidence, the Credit Rating Agencies must remain
pure as snow. Above reproach. All faith and confidence towards the U.S.
Capitalist system is built upon the "Saintly" activities and oversight by
Standard and Poor or Moody's and The Clowns.
The Credit Rating Agencies
have been found to have actively participated and actively promoted Worthless
Paper Derivatives (600 Trillion Dollars Of Toxic Assets were rated as Triple A
Credit Risk) and which in turn were then "Insured" or "Guaranteed" by the U.S.
Only these three "Privately Owned" Commercial Rating
Corporations are allowed to distribute government bonds. This fact alone would
explain that Capitalism is for the very few. No competition allowed in this type
of work. Hundreds of other companies have asked the SEC to be licenced and the
SEC refused. A monopy. Check-Out who owns these three rating agencies.
Archive Reference: On Topic
U.S. Finance: Credit Rating Agencies
Articles and Commentaries by various writers
and media pundits.
April 27, 2008 ---
December 14, 2011
Rating the raters
Why haven’t the credit rating agencies paid any
price for their involvement in the 2007 financial crisis? Are they being too
severe on the EU members? Is it a way to make up for their fatal mistakes? Or
can they be trusted when rating the sovereign debt as they’re not paid for it?
Is there a way to regulate them without undermining their independence?
Host Peter Lavelle interviews Richard Eskow, Mark A. Calabria and
December 14, 2011
Barclays has been fined $450 million for
trying to manipulate a key bank interest rate which influences the cost of loans
A financial crime wave
In this episode, Max
Keiser and co-host, Stacy Herbert, discuss ‘big boys’ and carding crimes,
marmite pots and Olympic has-beens, wash trades and perfect games. In the second
half of the show Max talks to former commodities analyst and blogger, Michael
Krieger, about the meaning of the escalating and blatant financial crime wave.
RT - Keiser Report
Hosts Max Keiser and Stacy Herbert interview Michael
June 30, 2012
Facebook's IPO Bombs, while "Hot" Tech Company's Cook the Books!
eyes seemed to be on Facebook's IPO today. But we look at some of these
hyped up social media and gaming companies that have gone public and ask if
they can get away with some choose-your-own-adventure accounting methods to
And back in March, our futures veteran Mark Melin told us
MF Global was worth more to some entities dead than alive. Well now we know
how much its carcass is worth to the legal team winding down the estate --
the team led by the trustee and former FBI director Louis Freeh. They've
reportedly racked up $25 million in fees! Customers are reportedly upset, as
their money is still missing. We'll talk about some possible MF Global
enablers that seem to be getting a free pass from regulators and
investigators: the auditors. Plus, the Financial Times reports JP Morgan's
chief investment office has built up positions totaling more than $100
billion in complex risky bonds - the types at the center of the 2008 crisis.
This is in addition to the positions in credit derivatives that led to the
$2 billion dollar trading loss we learned about last week. Has the bank's
reputation until now as an "excellent risk manager" allowed it to escape
scrutiny when taking these risks? We discuss all of this with Francine
McKenna on this episode of Capital Account. McKenna is author of the blog
re: The Auditors, and a columnist for Forbes and American Banker.
Facebook Auditor Ernst & Young (EY)
Business Model is a network to sell
your data to advertisers.
Value Recognition identical at 4 Social
Facebook uses exact same accounting policies as
Conflict of interest with Ernst & Young creating and then
Auditing their own policies and procedures.
Zynga is twelve percent
of Facebook's revenues.
Zynga is Social Gaming not just not just gaming
like gambling or casino like casino operations. And it is not just social
Should be the same accounting rules in place as AOL.
Attract users and then sell advertising against it.
New accounting term
Non-GAAP. Computations used to report corporate income
and earnings that are not defined by generally accepted accounting
principles (GAAP) are described as non-GAAP metrics.
including core earnings, free cash flow, pro forma earnings, operating
earnings, and earnings before interest, taxes, depreciation, and
amortization (EBITDA), provide useful financial information about individual
But lack of standardization in these calculations, plus the
potential for creative accounting, make it difficult to draw relevant
comparisons among companies or draw meaningful conclusions from these
generates almost all of Zynga's revenues.
More like a wholly owned
subsiduary or an off balance sheet special purpose vehicle.
Facebook, Groupon, Zynga
and Google are audited by Ernst & Young.
PricewaterhouseCoopers - PWC
been invoved with JP Morgan since the 1960's
RT - Capital Account
Lauren Lyster interviews Francine McKenna
May 18, 2012
Archive Reference: On Topic
U.S. Finance: R.I.P. : The Experts - 1929 -
Articles and Commentaries by various
writers and media pundits.
November 14 2008
--- May 28 2009
Where were the rating agencies?
S&P: Moody's : Fitch ?
The rating service employees knew they were acting fraudulently.
Moody's Investors Service told executives that issuing dubious creditworthy
ratings to mortgage-backed securities made it appear they were incompetent or
"sold our soul to the devil for revenue,'' according to e-mails obtained by U.S.
The Securities and Exchange Commission in a July report
found the credit-rating companies improperly managed conflicts of interest and
violated internal procedures in granting top rankings to mortgage bonds.
e-mail that a S&P employee wrote to a co-worker in 2006, obtained by committee
investigators, said, "Let's hope we are all wealthy and retired by the time this
house of cards falters.''
"These errors make us look either incompetent at credit analysis or like we
sold our soul to the devil for revenue, or a little bit of both."
managing director responding anonymously to an internal management survey,
Ratings Agencies "Sold Their Soul" . . . Joining Wall
Street and the Government
This instant message exchange between two
unidentified Standard & Poor's officials about a mortgage-backed security deal
Official #1: Btw (by the way) that deal is
Official #2: I know right...model def
(definitely) does not capture half the risk.
We should not be rating it.
Official #2: We rate every
deal. It could be structured by cows and we would rate it.
executive of Moody's says conflicts of interest got in the way of rating
agencies properly valuing mortgage backed securities.
Director Jerome Fons, who worked at Moody's until August of 2007, says Moody's
was focused on "maxmizing revenues," leading it to make the firm more "issuer
October 22, 2008
This program discussed the Senate Hearings:
Credit and Credibility
What role did the credit rating agencies play in the current economic crisis?
This week, a former managing director at Standard & Poor's speaks out on U.S.
television for the first time about how he was pressured to compromise standards
in a push for profits. Frank Raiter reveals what was really going on behind
closed doors at the credit rating agencies the public relies on to evaluate the
safety of their investments.
"During this period, profit was primary;
analytics were secondary," Raiter tells NOW Senior Correspondent Maria Hinojosa.
Who was watching the watchers? Surprising new revelations about the economic
debacle, this week on NOW.
Host David Brancaccio
November 21, 2008
Watchdogs: Tamed or Caught Napping?
By Gretchen Morgenson
Committee Holds Hearing on the Credit Rating Agencies and
the Financial Crisis
Chairman Henry A. Waxman
October 22, 2008
Says Don’t Inhale the Smoke It’s Puffing
By Jonathan Weil
March 12, 2009
.... WILLIAM K. BLACK: IndyMac specialized in making liars'
loans. In 2006 alone, it sold $80 billion dollars of liars' loans to other
companies. $80 billion.
BILL MOYERS: And was this
happening exclusively in this sub-prime mortgage business?
WILLIAM K. BLACK: No, and that's a big part of the story as well. Even
prime loans began to have non-verification. Even Ronald Reagan, you know, said,
"Trust, but verify." They just gutted the verification process. We know that
will produce enormous fraud, under economic theory, criminology theory, and two
thousand years of life experience.
BILL MOYERS: Is it
possible that these complex instruments were deliberately created so swindlers
could exploit them?
WILLIAM K. BLACK: Oh, absolutely.
This stuff, the exotic stuff that you're talking about was created out of things
like liars' loans, that were known to be extraordinarily bad. And now it was
getting triple-A ratings. Now a triple-A rating is supposed to mean there is
zero credit risk. So you take something that not only has significant, it has
crushing risk. That's why it's toxic. And you create this fiction that it has
zero risk. That itself, of course, is a fraudulent exercise. And again, there
was nobody looking, during the Bush years. So finally, only a year ago, we
started to have a Congressional investigation of some of these rating agencies,
and it's scandalous what came out. What we know now is that the rating agencies
never looked at a single loan file. When they finally did look, after the
markets had completely collapsed, they found, and I'm quoting Fitch, the
smallest of the rating agencies, "the results were disconcerting, in that there
was the appearance of fraud in nearly every file we examined."
BILL MOYERS: So if your assumption is correct, your evidence is sound,
the bank, the lending company, created a fraud. And the ratings agency that is
supposed to test the value of these assets knowingly entered into the fraud.
Both parties are committing fraud by intention.
WILLIAM K. BLACK:
Right, and the investment banker that — we call it pooling — puts together these
bad mortgages, these liars' loans, and creates the toxic waste of these
derivatives. All of them do that. And then they sell it to the world and the
world just thinks because it has a triple-A rating it must actually be safe.
Well, instead, there are 60 and 80 percent losses on these things, because of
course they, in reality, are toxic waste.
You're describing what Bernie Madoff did to a limited number of people. But
you're saying it's systemic, a systemic Ponzi scheme.
BLACK: Oh, Bernie was a piker. He doesn't even get into the front ranks
of a Ponzi scheme...
BILL MOYERS: But you're saying our
system became a Ponzi scheme.
WILLIAM K. BLACK: Our
BILL MOYERS: Our financial system...
WILLIAM K. BLACK: Became a Ponzi scheme. Everybody was buying a
pig in the poke. But they were buying a pig in the poke with a pretty pink
ribbon, and the pink ribbon said, "Triple-A."
Is there a law against liars' loans?
WILLIAM K. BLACK:
Not directly, but there, of course, many laws against fraud, and liars' loans
BILL MOYERS: Because...
WILLIAM K. BLACK: Because they're not going to be repaid and because
they had false representations. They involve deceit, which is the essence of
BILL MOYERS: Yeah. Are you saying that Timothy
Geithner, the Secretary of the Treasury, and others in the administration, with
the banks, are engaged in a cover up to keep us from knowing what went wrong?
WILLIAM K. BLACK: Absolutely.
WILLIAM K. BLACK: Absolutely, because they are
scared to death. All right? They're scared to death of a collapse. They're
afraid that if they admit the truth, that many of the large banks are
What about the property appraisers and their fraudulent appraisals?
Insider Trading Defendants and Cases Charged Since August 2009
Defendant Charged Status
May 31, 2011
Total Convicted: 39
Prosecuting Wall Street
Two high-ranking financial whistleblowers say they
tried to warn their superiors about defective and even fraudulent mortgages. So
why haven't the companies or their executives been prosecuted?
CBS - 60
Correspondent: Steve Kroft
December 04, 2011
Congressional Staffers Gain From Trading in Stocks
Brody Mullins, tom McGinty and Jason Zweig
October 11, 2010
In five of our 12 Patchwork Nation county types, 50 percent or fewer of
the households have stock portfolios of any kind, including retirement accounts.
Those county types are the socially conservative Evangelical Epicenters (14.6
million people), heavily Latino Immigration Nation (18.8 million), heavily black
Minority Central (13.3 million), small town Service Worker Centers (30.6
million) and LDS adherent-filled Mormon Outposts (1.8 million).
Madoff Whistleblower Tells KWN Banks Stealing From Pensions
In this King
World News exclusive interview, Harry Markopolos the Whistleblower who brought
down Bernie Madoff’s $65 billion Ponzi scheme reached out to KWN with the latest
fraud he and his team have uncovered. Markopolos stated, “The Bank of New York
is going to go down, Eric. Between Bank of New York Mellon and State Street,
these two institutions have stolen between $6 to $10 billion from tens of
millions of Americans retirement savings accounts. It’s been a hell of a crime
spree for the bank, but now they are being brought to justice.”
also told KWN, “The New York Attorney General filed suit on Tuesday (against
Bank of New York Mellon) for stealing money from pension funds on currency
transactions. This theft has been from tens of millions of Americans,
policemen, firemen, librarians, municipal workers, judges and the list goes on
and on and they’ve been doing it for decades.
At this pace Harry Markopolos
and his team are fast becoming synonymous with fighting corruption and crime on
a massive scale. Who knows, they may be this centuries new “Elliott Ness” and
legendary team of law enforcement agents nicknamed “The Untouchables.”
Markopolos is a Certified Fraud Examiner and CEO of Boston Security Analysts
Society. Mr. Markopolos investigates fraud full-time against Fortune 500
companies in the financial services and health care industries. He and his team
bring fraud cases to the U.S. Department of Justice, Internal Revenue Service,
and various state attorney generals under existing whistleblower programs.
Author of “No One Would Listen”- David Einhorn from Greenlight Capital wrote the
foreword for Mr. Markopolos’ new book and called Harry a hero for what he did.
In a King World News exclusive interview, the man who brought down
Bernie Madoff’s $65 billion Ponzi scheme informed KWN, “Bank of New York is
going to go down, Eric. Between Bank of New York Mellon and State Street, these
two institutions have stolen between $6 to $10 billion from tens of millions of
Americans retirement savings accounts. It’s been a hell of a crime spree for
the bank, but now they are being brought to justice.”
Harry Markopolos has
lead the team that spearheaded this investigation from the beginning. Harry and
his team were the first to expose this fraud. Markopolos also told KWN, “The
New York Attorney General filed suit on Tuesday (against Bank of New York
Mellon) for stealing money from pension funds on currency transactions. This
theft has been from tens of millions of Americans, policemen, firemen,
librarians, municipal workers, judges and the list goes on and on and they’ve
been doing it for decades.
It’s clear that the banks executives, their
strategy is we have to lie to maintain the fraud. We can’t admit to our board
how much we stole...of course we’d be fired. They are saying the charges are
baseless and they are going to defend them vigorously. Well, talk is cheap. If
they are going to defend them there is only one place to defend those cases and
that is before a jury and they refuse to set trial dates. The government is
ready for trial tomorrow. Why won’t the bank agree to trial dates if they are
so innocent? The answer is they are not so innocent.
Every day, every time a
state pension fund traded, the bank would steel approximately three tenths of
one percent from every transaction. As an example, every time a pension fund
bought a currency what the Bank of New York would do is look back twenty hours
and assign all of the state pension funds purchase transactions at the high of
Every time a state pension fund tried to sell a currency they would
assign them a price at the lows of the day and the bank would pocket the
difference. The bank has done this for not years, but for decades, every
business day for decades. This bank didn’t learn to steal just ten years ago,
they’ve been doing it for many decades.
I’m certain that the clients are
concerned and calling the bank. If they read the complaints by the Florida
Attorney General, by the Virginia Attorney General, by the New York Attorney
General and by the United States Attorney for the Southern District of
Manhattan, if they read the emails and look at the math and look at how much was
stolen, they would realize that they too are victims. They would have cause for
concern and pull their accounts from the Bank of New York....
“I would expect
the shareholders to be filing class action suits once they realize the extent of
the fraud. I’m thinking that if Al-Qaeda had done this to Americans, Seal Team
6 would be dropping in, but the banks did this. So maybe law enforcement needs
to drop into those corporate board rooms and treat them like Seal Team 6 treated
Osama Bin Laden.
My whistleblowers tell me this is an industrywide practice
and that all of the custody banks do it. So basically, anybody who has a
retirement account that’s invested in international assets, whether it be bonds
or stocks, has been a victim of this scheme and they need to get their money
Markopolos also discussed how Americans are ripped off by banks when
they travel, “Every American who travels overseas is a victim of foreign
currency fraud. There is a bank cartel out there and they charge 3% foreign
exchange transaction fees. They are charging people one hundred times more than
what it costs them to trade foreign exchange. So they are stealing from you
every day, in every way.
But finally, I think, thanks to these cases that we
have against Bank of New York and State Street, you are seeing two firms break
away from cartel pricing. I would like to congratulate them. Capital One
offers zero foreign transaction fees, so they are treating you honestly.
The other one that is treating you honestly is American Express for the platinum
and black card holders, there are no foreign currency fees. The rest of the
credit card companies are out there to steal from you.”
Harry Markopolos is a
national hero for breaking open the $65 billion Madoff Ponzi scheme and his
internationally televised Congressional testimony which blasted the SEC.
Eric King interviews Harry M. Markopolos
October 06, 2011
Goldman left investors
holding its subprime bag
Real News Network
Host Paul Jay interviews Greg
November 02, 2009
Will Goldman Sachs Exec fallout change Wall Street?
On Wednesday a
resentful executive director at Goldman Sachs publicized his last day with
the company in an op-ed in the New York Times. Greg Smith had been with
Sachs for nearly 12 years and in the op-ed the former executive said, "I can
honestly say that the environment now is as toxic and destructive as I have
ever seen it." Peter Schiff, president at Euro Pacific Capital, gives us his
take on the brutal fallout of the op-ed.
Host Elizabeth Wahl
interviews Peter David Schiff
March 15, 2012
financial system is a "Religion" only.
It is all a myth.
This says it all ....
U.S. Economy Grinds To Halt As Nation Realizes
Money Just A Symbolic, Mutually Shared Illusion
The Onion Magazine - Satire
The U.S. economy ceased to function this week after unexpected
existential remarks by Federal Reserve chairman Ben Bernanke shocked
Americans into realizing that money is, in fact, just a meaningless and
intangible social construct.
What began as a routine report before
the Senate Finance Committee Tuesday ended with Bernanke passionately
disavowing the entire concept of currency, and negating in an instant the
very foundation of the world's largest economy.
interest rates is unlikely at the moment, the Fed will of course act
appropriately if we…if we…" said Bernanke, who then paused for a moment,
looked down at his prepared statement, and shook his head in utter
disbelief. "You know what? It doesn't matter. None of this—this so-called
'money'—really matters at all."
"It's just an illusion," a wide-eyed
Bernanke added as he removed bills from his wallet and slowly spread them
out before him. "Just look at it: Meaningless pieces of paper with numbers
printed on them. Worthless."
According to witnesses, Finance
Committee members sat in thunderstruck silence for several moments until
Sen. Orrin Hatch (R-UT) finally shouted out, "Oh my God, he's right. It's
all a mirage. All of it—the money, our whole economy—it's all a lie!"
Screams then filled the Senate Chamber as lawmakers and members of the
press ran for the exits, leaving in their wake aisles littered with the
remains of torn currency.
As news of the nation's collectively held
delusion spread, the economy ground to a halt, with dumbfounded citizens
everywhere walking out on their jobs as they contemplated the little green
drawings of buildings and dead white men they once used to measure their
adequacy and importance as human beings.
At the New York Stock
Exchange, Wednesday morning's opening bell echoed across a silent floor as
the few traders who arrived for work out of habit looked up blankly at the
meaningless scrolling numbers on the flashing screens above.
spent 25 years in this room yelling 'Buy, buy! Sell, sell!' and for what?"
longtime trader Michael Palermo said. "All I've done is move arbitrary
designations of wealth from one column to another, wasting my life chasing
this unattainable hallucination of wealth."
"What a cruel cosmic
joke," he added. "I'm going home to hug my daughter."
Sources at the
White House said President Obama was "still trying to get his head around
all this" and was in seclusion with his coin collection, muttering "it's
just metal, it's just metal" over and over again.
"The president will
be making a statement very soon," press secretary Robert Gibbs told
reporters. "At the moment, though, his mind is just too blown to comment."
A few U.S. banks have remained open, though most teller windows are
unmanned due to a lack of interest in transactions involving mere scraps of
paper or, worse, decimal points and computer data signifying mere scraps of
paper. At a Bank of America branch in Spokane, WA, curious former customers
wandered aimlessly through a large empty vault, while several would-be
robbers of a Chase bank in Columbus, OH reportedly put their guns down and
exited the building hand in hand with security guards, laughing over the
inherent absurdity of the idea of $100 bills.
Likewise, the real
estate industry has all but vanished, with mortgage lenders seeing no reason
to stop people from reclaiming their foreclosed-upon homes.
even know what we were thinking in the first place," said former banker
Nathan Collins of Brandon, MS, as he jimmyed open a door to allow a single
mother and her five children to move back into their house. "A bunch of
people sign a bunch of papers, and now this family has no place to live?
That's just plain ludicrous."
The realization that money is nothing
more than an elaborate head game seems to have penetrated the entire
country: In Wilmington, DE, for instance, a collection agent reportedly
broke down in joyful sobs when he informed a woman on the other end of the
phone that he had absolutely no reason to harass her anymore, as her
Discover Card debt was no longer comprehensible.
For some Americans,
the fog of disbelief surrounding the nation's epiphany has begun to lift,
with many building new lives free from the illusion of money.
back to basics for me," Bernard Polk of Waverly, OH said. "I'm going to till
the soil for my own sustenance and get anything else I need by bartering. If
I want milk, I'll pay for it in tomatoes. If need a new hoe, I'll pay for it
When asked, hypothetically, how he would pay for
complicated life-saving surgery for a loved one, Polk seemed uncertain.
"That's a lot of vegetables, isn't it?" he said.
This paper examines the
sets of feasible allocations in a large class of economic environments in which
commitment is impossible (following Myerson, the standard definition of
feasibility is adapted to take account of the lack of commitment). The
environments feature either memory or money. Memory is defined as knowledge on
the part of an agent of the full histories of all agents with whom he has had
direct or indirect contact in the past. Money is defined as an object that does
not enter utility or production functions, and is available in fixed supply. The
main proposition is that any allocation that is feasible in an environment with
money is also feasible in the same environment with memory. Depending on the
environment, the converse may or may not be true. Hence, from a technological
point of view, money is equivalent to a primitive form of memory
Archive Reference: On Topic
U.S. Finance: Insider Trading
Articles and Commentaries by various writers
and media pundits.
October 21, 2009 --- March
Archive Reference: On Topic
--- Manipulation Of Interbank Libor Rates
--- Intercapital - ICAP : London-Based Firm
Manipulate ISDAfix - Interest-Rate Swaps
--- Inside The Global Offshore Money Maze
--- The Myth Of The Populist Stock
Articles and Commentaries by various writers
and media pundits.
Last Updated: April 27,
Somebody is found to have 134 billion dollars
in U.S. "Financial Instruments" and not investigated.
$134 Billion in U.S. Bonds Seized In Chiasso, Italy
1% of U.S.
FOX News 134 Billion Dollar in US Bond seized at Italian border
Border guards in Chiasso see plenty of smugglers and plenty of false-bottomed
suitcases, but no one in the town, which straddles the Italian-Swiss frontier,
had ever seen anything like this. Trussed up in front of the police in the train
station were two Japanese men, and beside them a suitcase with a booty unlike
any other. Concealed at the bottom of the bag were some rather incredible sheets
of paper. The documents were apparently dollar-denominated US government bonds
with a face value of a staggering $134bn (£81bn).
How on earth did these two
men, who at first refused to identify themselves, come to be there, trying to
ride the train into Switzerland carrying bonds worth more than the gross
domestic product of Singapore? If the bonds were genuine, the pair would have
been America's fourth-biggest creditor, ahead of the UK and just behind Russia.
No sooner had the story leaked out from the Italian lakes region last week than
it sparked a panoply of conspiracy tales. But one resounded more than any other:
that the men were agents of the Japanese finance ministry, in the country for
the G8 meeting, making a surreptitious journey into Switzerland to sell off one
small chunk of the massive mountain of US bonds stacked up in the Japanese
Host Glenn Beck interviews Joe Weisenthal,
Editor, Business Insider
June 15, 2009
You would think that they
would find the "Missing Money" elsewhere and before any cuts were made to social
The Missing Money
Trillions Of Dollars Are
Missing From The U.S. Government
Trillions of dollars are missing from the US
government. What's going on? Where is the money? How could this happen? Where
are the checks and balances? How much more has gone missing? What would happen
if a corporation failed to pass an audit like this? Or a taxpayer? Who is
responsible for this? Would your banks continue to handle your bank account if
you behaved like this? Would your investors continue to buy your securities if
you behaved like this?
Rabbi Dov S.
During his term as Comptroller, he was tasked to help track down the
Pentagon's 2.6 trillion dollars ($2,600,000,000,000) worth of unaccounted
No One Knows Truth About $300 Billion Bonds From
By A. Craig Copetas
January 18, 2012
Italian police seize $6 trillion of fake T-bonds
Fake securities valued at more than a third of the US national debt
February 17, 2012
Italian police seize fake bonds worth a third of US national debt
batch of fake US Treasury bonds worth some $6 trillion – more than a third of
the US national debt – has been seized by Italian police. Eight Italians have
been arrested and accused of a large-scale international fraud.
bonds and other securities were seized from a Swiss trust company during a joint
operation by Italian, Swiss, and US authorities. The fake certificates signed
"Chicago, Illinois, Federal Reserve Bank" were stored in trunks stamped with
“Federal Reserve System, Treaty of Versailles” marks. The bonds were carrying
the false date of issue of 1934.
The forgers were planning to use the fake
certificates as collateral to secure loans in a number of Swiss banks,
prosecutor of the southern Italian city of Potenza said as cited by Reuters.
The investigation began over a year ago as a trivial probe into Italian mafia
loan-sharking. However, after the Italian authorities uncovered an international
network plotting a full-scale fraud, they called upon their Swiss and US
colleagues. The US experts helped to identify the bonds as fakes.
This is not
the first attempt to defraud Swiss banks with fake US bonds, but the most
ambitious so far.
In 2009 the officers of the Italian financial police
arrested two Japanese nationals who tried to cross the Italian border and enter
Switzerland with a suitcase full of fake US treasury bonds worth $134.5 billion.
In a similar incident in 2009 two Filipinos were arrested at Milan Airport
with a bag of fake US bonds amounting to some $180 billion.
In January last
year six smugglers were arrested during a routine search at a highway rest shop.
They were carrying a briefcase full of fake bonds valued at approximately $20
February 18, 2012
Unless somebody can explain where the world found at least 60 trillion
dollars of value during the past 18 months which they then created a "Financial
Instrument" with, (in order to save mankind), then it is quite obvious that our
Economic System is based upon "Faith" alone. You can’t really see the money ….
You can’t really reach out and touch it ….. It is just a "Financial Instrument"
….. like an 11th Commandment.
When you watch our government/financial
officials explain how they are going to "Work Hard" at a solution .... it is
just for appearances only. There is no "Work" involved. It must "Appear" to be
"Work" and "Effort" because nobody wants to hear that they are just gonna print
a "Financial Instrument" and invent or create another 2 or 3 Trillion Dollars of
"Imaginary Wealth". All the he-haw is about "Working" on a solution is because
the Ruling Class don't want anybody to especially realize that money does really
grow on trees. (At least on their street anyways.) The "Ruling Class Streets"
are filled with "Magicians" who can create wealth out of thin air and at a much
faster rate of scale then the U.S. Treasury can. Joe Citizen can win at the
ballot box and make all the "Regulations" possible, but the 20 percent Ruling
Class always get what they want because they print money which causes inflation
and thus devalues your pay cheque. A currency printing press has more power than
a ballot box. The reason why CEO and corporate pay scales and golden parachutes
are so huge is because the Ruling Class use "Money Supply" and not the
"Inflation Rate". The 1% tie their salary structure and retirement plans to the
ratte of the "Money Supply" because it is a more accurate projection of real
When you picture a meeting with Ben Bernake and the 12 members
of the Federal Reserve, it is exactly like Jesus Christ and The Last Supper.
Our financial system (Economists) are no different than a person who left
university with a degree in Christendom. An economist believes in all his
"Charts" and "Graphs" just like a Preacher does with the bible.
economist and the preacher have the identical "Skills" in order to pass
themselves off as the "Gods" of "Hidden Knowlege" (Faith) in their respective
fields. Their biggest "asset" is that they are great salespersons or
In Olden days when there were Queens and
Kings, there were Court Magicians.
Nobody knew or could explain the
"Magic" and the magicians were given a special honoured place within the Royal
Court. They even dressed differently than other Royal Court members. (Just like
bankers do today.)
For 2 thousand years, both the preachers and
economists have been scrambling around the globe trying to prove that a "God" is
speaking directly with them.
It would probably take 2 thousand years
just for the U.S. Capitalists to do an accurate audit of total assets and
liabiliies. About as long as the preachers have been trying to prove that Jesus
and The Boys were real.
Let's return to 1980 ..... It was "Morning In
The "Magicans and Court
Jesters" had the "Evidentiary Charts" to guide us, (like a crew of Palm Readers
sorting Tarrot Cards.)
But it was "Trickle-Offshore"
Ray-Gun exclaimed "Morning In America", it meant that each and every morning the
Ruling Elite were transferring their wealth offshore.
The Perfect System
..... with a Perfected Trickle.
JP Morgan owns 80% of the Gold
Derivatives on the planet! HSBC owns the other 20%.
That is how the U.S.
"Manipulates" the value of the U.S. dollar. The U.S. Capitalists owned all the
gold and were able to manipulate the "Real" devaluation of the U.S. dollar with
claims that Free Trade was the best thing since sliced bread .... And all the
while, the Capitalists were moving their wealth offshore.
And in other commodities, JPM holds a similar position as well
as part of their overall $78 trillion derivatives book which is heavily
dominated by interest rate and credit derivatives. JPM IS the market and where
95 Percent of their transactions are still OTC.
The U.S.A. is a "Corporation".
States Isn't a Country — It's a Corporation!
The District of Columbia
Organic Act of 1871
Psychopathic Traits And The Behavior Of Corporations:
-- Callous unconcern for the feelings for others
-- Incapacity to
maintain enduring relationships
-- Reckless disregard for the safety of
-- Deceitfulness: repeated lying and conning others for profit
Incapacity to experience guilt
-- Failure to conform to social norms with
respect to lawful behavior
--Psychologist Dr. Robert Hare--
is an infallible rule that a prince who is not wise himself cannot be well
advised … wise counsels, from whoever they come, must necessarily be due to the
prudence of the prince, and not the prudence of the prince to the wise counsel
Presidents are "Public
Relation Managers" and President Barack Obama is just "Managing" the decline of
the American Empire.
Politicians are not Wack Jobs ..... They are
ventriloquists in a Puppet Harem.
Achive Reference: On Topic
U.S. Politics: Land Of The Puppet People
Audio/Visual and Documents
- Including Descriptions
September 11, 2012
They have learned to lie with
sincerity while running a three-legged race in the Land of Puppet People.
Archive Reference: On Topic
U.S. Politics: Republican Dictionary
Articles and Commentaries by various
writers and media pundits.
February 10, 2005
--- December 27, 2012
“Wall Street Terrorists” from the “Kingdom Of Evil"
Archive Reference: On Topic
U.S. Politics: Leadership Without A Conscience
The Trick of the Psychopath's Trade: Make Us Believe that Evil Comes from Others
SILVIA CATTORI: "When you come to understand that
the reins of political and economic power are in the hands of people who have no
conscience, who have no capacity for empathy, it opens up a completely new way
of looking at what we call "evil". Evil is no longer only a moral issue; it can
now be analyzed and understood scientifically."
KNIGHT-JADCZYK: "When psychopaths are the policy makers in
government and the CEOs of big business, the way they think and reason - their
'morality' - becomes the common culture and 'morality' of the population over
which they preside. When this happens, the mind of the population is infected in
the way a pathogen infects a physical body. The only way to protect ourselves
against this pathological thinking is to inoculate ourselves against it, and
that is done by learning as much as possible about the nature of psychopathy and
its influence on us. Essentially, this particular 'disease' thrives in an
environment where its very existence is denied, and this denial is planned and
HENRY SEE: "First of all, it needs
to be said that "mad people" don't need the support of large populations, only a
powerful minority that can both "drive" the population and control it. Look at
the polls in the United States. Bush has been hovering around 30% popularity for
years - and that is the population as a whole. But because he is backed by a
very powerful minority, the people who own the media, the arms industry and
their military supporters, the oil companies, among others, popular discontent
doesn't matter. And as long as Bush's politics don't overtly affect the ordinary
American negatively, they don't care enough to do anything about it."
--Henry See, Laura Knight-Jadczyk, Silvia Cattori, January 31, 2008--
Archive Reference: On Topic
U.S. Politics: Leadership Without A Conscience
suspect that the main reason why many blacks and other minorities are not seen
actively promoting the Occupy Movement, is because they don't want to destroy
the first black president. The minority population has been hit much more
acutely with job losses in manufacturing. And, I feel it to be a certainty for
Obama to win a second term. Only President Barack Obama can "Sell" more "Hope"
amidst the decline.
The politicians can't even hold TownHall meetings
because they are getting Mic-Checked. And thus we are seeing endless debates in
Elections …. are a choice between Tweedledum and Tweedledummer.
There is little difference between the candidates or political parties …. It
will be an election of Regime Rotation between the Democrats and Republicans
….and which, in truth, provides only an illusion of a functioning democracy
Paul O'Neill, The Democrats, And Regime Rotation
Regime rotation provides
the illusion of a functioning democracy. The damning revelations posed by
Treasury Secretary Paul O’Neill (et al.) signal that the Bush administration’s
usefulness has come to an end, a verdict not accepted by the White House which
warns that the 2004 election might be delayed or suspended if a “mass
casualty-producing event” occurs.
January 15, 2004
there shall arise false mesiahs,
and false prophets,
and shall shew
great signs and wonders;
insomuch that, if it were possible,
deceive the very elect."
"Do not put your trust
President George W. Bush told
Palestinian ministers that God had told him to invade Afghanistan and Iraq - and
create a Palestinian State, a new BBC series reveals
In Elusive Peace: Israel
and the Arabs, a major three-part series on BBC TWO (at 9.00pm on Monday 10,
Monday 17 and Monday 24 October), Abu Mazen, Palestinian Prime Minister, and
Nabil Shaath, his Foreign Minister, describe their first meeting with President
Bush in June 2003.
Nabil Shaath says: "President Bush said to all of us: 'I'm
driven with a mission from God. God would tell me, "George, go and fight those
terrorists in Afghanistan." And I did, and then God would tell me, "George, go
and end the tyranny in Iraq …" And I did. And now, again, I feel God's words
coming to me, "Go get the Palestinians their state and get the Israelis their
security, and get peace in the Middle East." And by God I'm gonna do it.'"
Abu Mazen was at the same meeting and recounts how President Bush told him: "I
have a moral and religious obligation. So I will get you a Palestinian state."
October 06, 2005
Lyndon Johnson told Austrian ambassador Ernst Lemberter in 1966 that the
Holy Ghost regularly visited him..."He comes to me about 2 o'clock in the
morning," Johnson said, "--when I have to give word to the boys, and I get the
word from God whether to bomb or not."
--Ronnie Dugger, The Politician: The
Life and Times of Lyndon Johnson, May 1984--
Ronnie Ray-Gun claimed to be a Christian and God-Fearing man.
Direct quote from the just published Reagan Diaries
The entry is dated
May 17, 1986
"A moment I've been dreading. George brought his
ne're-do-well son around this morning and asked me to find the kid a job. Not
the political one who lives in Florida. The one who hangs around here all the
time looking shiftless. This so-called kid is already almost 40 and has never
had a real job. Maybe I'll call Kinsley over at The New Republic and see if
they'll hire him as a contributing editor or something. That looks like easy
The First Lady dabbled in astrology as far back as 1967.
Reagan-Gorbachev Washington summit, she cast the charts of both men and
determined that 2 p.m. on Dec. 8, 1987, was the most propitious moment for them
to sign the intermediate-range nuclear forces treaty. At Nancy's behest, the
entire summit was built around that hour.
--Donald T. Regan, For the Record:
From Wall Street to Washington, May 1988--
the chips were down and Ray-Gun needed "Truth" and "Advice", Ronnie Ray-Gun
turned to Astologers and was found in the arms of a Tarrot Card reader. The very
"Godless Idol" which Ray-Gun's bible ranted against.
"Not since the
days of the Roman emperors—and never in the history of the United States
Presidency—has an astrologer played such a significant role in the nation's
affairs of State."
--Joan Quigley, What Does Joan Say?: My Seven Years
As White House Astrologer to Nancy and Ronald Reagan, May 1992--
The Reagans and Astrology
Joan Quigley, planned almost all presidential
travel, press conferences, and even the president's cancer surgery.........
based on astrology.
It might be difficult to believe the fact that the Reagan
presidency was literally controlled by astrology. Ronald Regan who became the
president of America in 1980 relied heavily on astrology in making important
decisions in the White House. His entire schedule is said to have been
coordinated by his astrologer, Joan Quigley.
It was in 1988 that former
chief-of-staff Donald Regan in a 'tell-all' book revealed that the Reagan
administration relied heavily on astrology. Jeane Dixon, an astrologer who
became famous for her prediction of the assassination of President Kennedy, was
once an astrological advisor to the Reagans. Jeane gained the Reagan's favor by
predicting in 1962 that he would become the Governor of California and later
President of the United States. But in 1976, Nancy Reagan dropped Jeane when she
predicted that Reagan would not gain the presidency in 1976, which however
turned out to be correct. It was then that Joan Quigley was hired as the
Reagan's astrologer, even though she too predicted that 1976 would not be the
year for Reagan.
Ronald and Nancy Reagan had a long history of relationships
with astrologers and psychics. Another astrologer associated with the Reagans
was Joyce Jillson who helped the Reagans in selecting Reagan's Vice President
from a list of seven candidates. According to Jillson, George Bush was the only
choice because Bush was a Gemini - the most compatible sign with Reagan who was
Nancy learned from Quigley about Reagan's chart, which
indicated that March 30 would be a terrible day for him. And like as predicted,
on March 30, 1981,there was an assassination attempt on President Reagan. It was
from then on that Quigley's role was transformed from a casual astrologer friend
into that of an astrological protector of Ronald Reagan. Nancy also became aware
of the "Presidential Death Cycle." This is the 20-year cycle involving a
conjunction of Jupiter and Saturn, also known as the "zero-year curse." Every
president since William Harrison who was elected at the same time as this
conjunction has died while in office
--Kevin Williams, Astrology and the
"Presidential Death Cycle"
have played a disproportionate role in the development of civilization, because
they are hard-wired to lie, kill, injure, and generally inflict great suffering
on other humans without feeling any remorse. The inventor of civilization — the
first tribal chieftain who successfully brainwashed an army of controlled mass
murderers—was almost certainly a genetic psychopath. Since that momentous
discovery, psychopaths have enjoyed a significant advantage over non-psychopaths
in the struggle for power in civilizational hierarchies — especially military
Military institutions are tailor-made for psychopathic
killers. The 5% or so of human males who feel no remorse about killing their
fellow human beings make the best soldiers. And the 95% who are extremely
reluctant to kill make terrible soldiers — unless they are brainwashed with
highly sophisticated modern techniques that turn them (temporarily it is hoped)
into functional psychopaths.
An advantage of psychopaths over people with conscience...people with a
"soul", is that lying is little different than breathing. Psychopaths skate
without remorse through behavior from which people with conscience recoil,
protecting their humanity with the comforting blanket of, Oh! They’d never do
THAT! Well, they do that, as naturally as breathing. Recognition of psychopaths,
the misery they dump on everyone else, and on everything—and especially the
knowledge that they can easily be revealed—might be the most important advance
of all time regarding civilization more fitting of the name. Developments in
brain scanning technologies leave psychopaths with nowhere to hide. One might
think of it as X-ray vision regarding a person’s soul....
American's are not
Archive Reference: On Topic
U.S. Military: American Exceptionalism
Articles and Commentaries by various
writers and media pundits.
March 28, 2005 ---
May 31, 2012
This rich and wonderful country--the progress of which at the present time,
is the wonder of the old world--was until recently, inhabited exclusively by the
lurking savage and wild beasts of prey. If the rapid progress of the "Great
West" has surprised our people, what will those of other countries think of the
"Far West," which was destined at an early day, to be the vast granary [grain
producing region], as it is now the treasure chamber of our country?...
the foreground, the central and principal figure, a beautiful and charming
Female, is floating westward through the air bearing on her forehead the "Star
of Empire...." On the right of the picture is a city, steamships, manufactories,
schools and churches over which beams of light are streaming and filling the
air--indicative of civilization. The general tone of the picture on the left
declares darkness, waste and confusion. From the city proceed the three great
continental lines of railway.... Next to these are the transportation wagons,
overland stage, hunters, gold seekers, pony express, pioneer emigrant and the
warrior dance of the "noble red man." Fleeing from "Progress"...are Indians,
buffaloes, wild horses, bears, and other game, moving Westward, ever Westward,
the Indians with their squaws, papooses, and "pony lodges," turn their
despairing faces towards, as they flee the wondrous vision. The "Star" is too
much for them.
...What home, from the miner's humble cabin to the stately
marble mansion of the capitalist, should be without this Great National Picture,
which illustrates in the most artistic manner all the gigantic results of
American Brains and Hands! Who would not have such a beautiful token to remind
them of the country's grandeur and enterprise which have caused the mighty
wilderness to blossom like the rose!!!
American Progress By John Gast (1872)
imperialist ideology of Manifest Destiny, which is the notion that the U.S. has
an obligation to expand in order to spread its form of democracy and freedom.
The term "Manifest Destiny" was coined in the nineteenth century when this
doctrine was invoked to justify the U.S.’s westward expansion and, of course, it
is grounded in the same set of beliefs articulated in captivity narratives—that
white and European peoples are superior to Native Americans and that white
non-Natives have a moral obligation to impose their values on others, especially
uncivilized, dark skinned others.
The U.S. has used "Weapons of Mass Destruction" around the world on
innocent civilian populations. These are American bombs, both nuclear and
conventional, used indiscriminately for no military objective. The targets are
civilian centers and the victims are simply called "collateral damage."
Casualties in the Third World
Loss of life caused by American invasions or by
US-backed and funded regimes since 1960
World War II : Combatants And Casualties - 1937 - 1945
World War II : Combatants And Casualties - 1937 - 1945
Coups Arranged or Backed by the USA
Since 1945, the USA has been
responsible either directly or indirectly of helping remove dozens of
governments, many democratically elected, around the world. Sometimes the events
are kept secret for years and only slowly come out. Other times, the events are
the cause of demonstrations, anger and resentment at the time they occur.
Whenever, an event like this occurs there are two reasons to be considered.
Reason 1: The reason given by the USA, its media and its
friends around the world. Reasons like Communism, Terrorism, Human Rights,
Freedom, Liberation, Weapons of Mass Destruction, etc.
The actual reason. This is usually hidden from the general public and has to be
looked for in quotes by under-reported officials or subsequent events on the
ground. Often, the victims of the change of government know the real reasons
better than the populations of the Western countries. Real reasons are many but
usually include Business Interests, Access to Resources, Markets, Military
Bases, Strategic Value, or Political Support.
In the list below only
successful changes of government are listed. Many attempts have failed. Cuba is
the best example of this.