Filed under: Abu Dhabi, Africa, Big Banks, central bank, China, Congress, corporations, Credit Crisis, DEBT, deficit, Dollar, Economic Collapse, economic depression, Economy, GE, George Bush, global economy, Great Depression, Greenback, haiti, henry paulson, housing market, humor, Inflation, infrastructure, Jim Cramer, Mad Money, Merrill Lynch, mortgage companies, mortgage lenders, neocons, Paulson, real estate, Russia, Stock Market, subprime, subprime lending, Uncategorized, US Economy, Wall Street, writedown | Tags: run on banks
Bush: “Wall Street got drunk”
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Russia Cuts Exposure To Mortgage Companies
http://www.reuters.com/article/fundsFundsNews/idUSL863553320080728
Aussi Bank Writedown Shock Street?
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Merrill Lynch forced to take emergency action ahead of writedown
http://business.timesonline.co.uk/tol/b..banking_and_finance/article4420207.ece
Haiti: Mud cakes become staple diet as cost of food soars
http://www.guardian.co.uk/world/..internationalaidanddevelopment
China Owns America
http://www.washingtontimes.com/ne..chinas-economic-bargaining-chip/
Economy hitting the elderly especially hard
http://www.msnbc.msn.com/id/25804814/page/2/
Congress Taps Paulson’s Helmet
http://www.321gold.com/editorials/schiff/schiff072808.html
No Angry Lines At New Failed Banks
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Abu Dhabi To Buy Stake In GE
http://business.timesonline.co.u..try_sectors/industrials/article4380773.ece
Russia Owns 10% Of U.S. Steel Industry
http://www.reuters.com/article/reutersEdge/idUSL0746834220080407?sp=true
Cramer: Stocks are Doomed, Sell Now
http://moneynews.com/streettalk/cramer_sell_stocks_now/2008/07/09/111259.html
Controller tells Schwarzenegger he won’t cut workers’ wages
California Governor Schwarzenegger to cut state worker pay to $6.55/hr
Ford Posts Loss of $8.7 Billion on Asset Woes
Food Price Rise Has Coca Farmers Planting Rice
Pelosi Eyes $50 Billion In New Economic Stimulus
Dow Drops 200 Points On Housing Data
Filed under: Abu Dhabi, Afghanistan, afghanistan deaths, Dennis Kucinich, Dick Cheney, George Bush, Iraq, iraq deaths, Iraqnam, Maliki, marine, Military, nation building, neocons, occupation, poll, PTSD, Pullout, Shiite, Texas, Troops, UAE, UN, veterans, War On Terror
Iraq Looking At U.S. Timetable For Withdrawal
Reuters
July 7, 2008
Iraqi Prime Minister Nuri al-Maliki raised the prospect on Monday of setting a timetable for the withdrawal of U.S. troops as part of negotiations over a new security agreement with Washington.
It was the first time the U.S.-backed Shi’ite-led government has floated the idea of a timetable for the removal of American forces from Iraq. The Bush administration has always opposed such a move, saying it would give militant groups an advantage.
The security deal under negotiation will replace a U.N. mandate for the presence of U.S. troops that expires on December 31.
“Today, we are looking at the necessity of terminating the foreign presence on Iraqi lands and restoring full sovereignty,” Maliki told Arab ambassadors in blunt remarks during an official visit to Abu Dhabi, capital of the United Arab Emirates.
“One of the two basic topics is either to have a memorandum of understanding for the departure of forces or a memorandum of understanding to set a timetable for the presence of the forces, so that we know (their presence) will end in a specific time.”
How You Ended The War
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Kucinich To Introduce One Article Of Impeachment
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‘No plans for early Afghanistan pullout’
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Soldier found dead in Texas apartment after shootout with police
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Canadian court rules Iraq war illegal
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Panel urges new law on government war powers
http://www.reuters.com/article/politicsNews/idUSN0826563920080708
Injured Iraq War Veterans Pay More for Health Care, Report Says
http://www.bloomberg.com/..N6Dgs3JM&refer=us
Filed under: Abu Dhabi, Alan Greenspan, Alex Jones, asia, bernanke, bonds, central bank, China, Credit Crisis, DEBT, dollar peg, Economic Collapse, economic depression, Economy, Euro, Federal Reserve, food crisis, food market, food prices, George Bush, Great Depression, Greenback, gulf, imf, Inflation, interest rate cuts, Joseph Stiglitz, liquidation, rate cut, sterling, Stock Market, UAE, US Economy, US Treasury, World Bank
Traitor Greenspan Urges Gulf States To Abandon Dollar
Former Fed chief’s insistence that Arab nations dump greenback peg could lead to economic chaos in America
Paul Joseph Watson
Prison Planet
February 26, 2008
Alan Greenspan has again exposed himself as a traitor working against the interests of the American people by urging Gulf states to abandon the dollar peg, a move that could result in financial chaos and an economic depression in America.
The dollar peg mandates Gulf nations to price their assets in U.S. dollars and follow U.S. monetary policy at a time when the Fed is cutting interest rates, a system that has produced a boom in oil revenues but led to high inflation as the dollar weakens.
“It [de-pegging] is probably the most useful thing that can be done to stop the increasing influence of foreign assets on the monetary system and therefore the monetary base which is basically the major force in inflationary pressures,” Greenspan told the Abu Dhabi Corporate Leadership Forum yesterday.
“In the short term free floating … will not fully dissipate inflationary pressure, although it would significantly do so,” added Greenspan, giving a green light for Gulf states to drop the dollar peg.
According to Economist editor Pam Woodall, Greenspan’s comments heralded the beginning of the end for the US dollar as the currency of choice for foreign exchange reserves.
“If Asian central banks hold today more than 80 per cent of the global foreign exchange reserves, which indicates the shift of the global economy domination towards Asia, it seems quite awkward that the UAE still maintains the peg of its currency to the US dollar,” she told Gulf News.
Greenspan’s zeal to destroy the dollar is evident in numerous public statements he has made predicting the replacement of the dollar with the Euro as the world reserve currency.
The former Fed chairman has repeatedly badmouthed the dollar and hyped the inevitability of economic chaos at a time when market confidence is in the toilet. Greenspan’s rhetoric matches that of the IMF, who in October of last year bizarrely slammed the dollar as “overvalued” at the same time the greenback hit its all time low against the Euro.
A decision on behalf of the Gulf states to abandon the dollar peg would have disastrous consequences for the greenback and the American economy.
Such a move could lead the likes of the United Arab Emirates and Saudi Arabia to diversify their foreign exchange holdings out of dollars. This would amount to a vote of “no confidence” in the dollar and may cause other countries with large dollar reserves, such as China and Japan, to follow suit and begin dumping the greenback en masse.
China has threatened repeatedly to use the “nuclear option” and liquidate its vast holding of US treasuries in response to continued pressure on the Communist state to force a yuan revaluation. According to a widely-read London Telegraph report, such an event “could trigger a dollar crash” and also “cause a spike in US bond yields, hammering the US housing market and perhaps tipping the economy into recession.”
Runaway inflation would also ensue, making the cost of living unaffordable to even middle class Americans as food prices skyrocket and international aid organizations like the World Food Programme predict rationing and food riots.
The dollar has held firm against the Euro and recovered some losses against Sterling over the past two months, but it has still lost 12 per cent of its value against the trade-weighted index over the last two years and has plunged by a whopping 60 per cent against the Euro since Bush entered the White House.
Stiglitz Blames Greenspan For Recession
Former World Bank Chief Economist says US probably already in recession
Steve Watson
Infowars.net
February 26, 2008
Former chief economist of the World Bank, Joseph Stiglitz, has said that the US economy is already in recession and is pointing the finger of blame directly towards former Federal Reserve chairman Alan Greenspan.
Remarking that the economy is “probably” now in recession, Stiglitz told Bloomberg Television that “There is a very significant slowdown in the U.S. economy… The housing bubble has broken and housing prices are coming down. Most experts think they will have to come down substantially more.”
Stiglitz stressed that Alan Greenspan “is right that this downturn is going to be the worst downturn in a quarter century, but he’s largely to blame,” adding “It’s not just that he was asleep at the wheel, he actively looked the other way”.
Stiglitz’s comments come on the back of news that Greenspan has been actively urging Gulf states to abandon the dollar peg, a move that could result in financial chaos and a further economic depression in America. We have previously reported on Greenspan’s penchant for working to destroy the US economy.
Stiglitz also took a swipe at current Fed chairman Ben S. Bernanke, charging him with failing to counter the deterioration of the real-estate market by procrastinating over interest rate cuts.
“The dramatic lowering of the main interest rate by 75 basis points [last month] was a panic not a prudent measure.” Stiglitz said.
The Nobel-prize winning economist also cited the $3 trillion cost of the Iraq war as a key factor in the economic downturn, saying it has increased the budget deficit and consumed resources that would otherwise promote growth.
In contrast, the president last week stated that the war in Iraq has had no bearing on the economic slump.
Stiglitz is no stranger to speaking out against the establishment on the economy. In October 2001 he caused controversy when he exposed rampant corruption within the IMF and blew the whistle on their nefarious methods of inducing countries to fall under their debt before stripping them of sovereignty and hollowing out their economies.
Sixteen months ago, on the nationally syndicated Alex Jones radio show, Stiglitz predicted a global economic crash would occur within 2 years.
Filed under: Abu Dhabi, Al Gore, brussels, carbon dioxide, Carbon Tax, Co2, energy, environmental taxation, ethanol, Europe, european union, global tax, Global Warming, gordon brown, Jose Barroso, Russia, tax, United Kingdom
EU global warming crackdown will cost every family £730 a year
Daily Mail
January 24, 2008
Households will have to pay up to £730 a year to fund plans to tackle climate change, it was claimed yesterday.
Under laws proposed by Brussels, Britain will be forced to generate 40 per cent of its electricity from green sources within 12 years.
Currently, the figure for wind, wave and hydroelectric power is just two per cent.
To meet the target – and avoid hefty fines – energy experts say thousands more wind turbines will be needed.
The move would anger anti-turbine campaigners and represent an enormous engineering challenge.
Brussels says the proposals are essential to curb global warming even though environmentalists say they do not go far enough.
The European Commission claimed the package would cost the average European citizen £115 a year. Britons will pay far more because the country lags in the green energy stakes.
Open Europe, a Eurosceptic think-tank supported by Marks & Spencer boss Sir Stuart Rose, said a typical family would be paying a £730 levy by 2020.
In order to produce enough green energy by that date, Britain would
need to build two giant wind turbines every day.
“Britain has such a low level of renewable energy right now, the cost of meeting this target will be higher than for most other EU countries,” said Open Europe spokesman Hugo Robinson.
The climate change plans were unveiled by Jose Manuel Barroso, the Portuguese European Commission president.
The commission pledged last year to generate 20 per cent of Europe’s energy from renewable sources – such as wave, tidal, hydroelectric and wood burning – within 12 years.
Europe is demanding that 15 per cent of all the energy used in Britain for electricity, transport and heating comes from renewables – a rise of 13 per cent on the current level.
No other country faces such a large increase.
Britain is already committed to ensuring that 10 per cent of the energy used for transport is biofuel – produced from crops rather than oil – so further opportunities for green transport fuel are limited.
It will also be difficult to use more green energy for heating. Nine out of ten UK homes have gas central heating boilers which are difficult to convert.
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Filed under: Abu Dhabi, Ahmadinejad, Coup, Credit Crisis, Economic Collapse, economic depression, Economy, Empire, Euro, Federal Reserve, gas prices, George Bush, global economy, Global Warming, Great Depression, Greenback, Hugo Chavez, Inflation, Iran, military strike, Nuke, Oil, OPEC, Petrol, Sanctions, Saudi Arabia, Stock Market, US Economy, Venezuela, ww4
Ahmadinejad: OPEC Members Interested in Converting Cash Reserves Into Non-Dollar Currency
Sebastian Abbot
AP
November 18, 2007
RIYADH, Saudi Arabia (AP) — Iranian President Mahmoud Ahmadinejad said Sunday that OPEC’s members have expressed interest in converting their cash reserves into a currency other than the depreciating U.S. dollar, which he called a “worthless piece of paper.”
His comments at the end of a rare summit of OPEC heads of state exposed fissures within the 13-member cartel — especially after U.S. ally Saudi Arabia was reluctant to mention concerns about the falling dollar in the summit’s final declaration.
The hardline Iranian leader’s comments also highlighted the growing challenge that Saudi Arabia, the world’s largest oil producer, faces from Iran and its ally Venezuela within the Organization of Petroleum Exporting Countries.
“They get our oil and give us a worthless piece of paper,” Ahmadinejad told reporters after the close of the summit in the Saudi capital of Riyadh. He blamed U.S. President George W. Bush’s policies for the decline of the dollar and its negative effect on other countries.
Oil is priced in U.S. dollars on the world market, and the currency’s depreciation has concerned oil producers because it has contributed to rising crude prices and has eroded the value of their dollar reserves.
“All participating leaders showed an interest in changing their hard currency reserves to a credible hard currency,” Ahmadinejad said. “Some said producing countries should designate a single hard currency aside from the U.S. dollar … to form the basis of our oil trade.”
Venezuelan President Hugo Chavez echoed this sentiment Sunday on the sidelines of the summit, saying “the empire of the dollar has to end.”
“Don’t you see how the dollar has been in free-fall without a parachute?” Chavez said, calling the euro a better option.
Saudi Arabia’s King Abdullah had tried to direct the focus of the summit toward studying the effect of the oil industry on the environment, but he continuously faced challenges from Ahmadinejad and Chavez.
Iran and Venezuela have proposed trading oil in a basket of currencies to replace the historic link to the dollar, but they had not been able to generate support from enough fellow OPEC members — many of whom, including Saudi Arabia, are staunch U.S. allies.
Both Iran and Venezuela have antagonistic relationships with the U.S., suggesting their proposals may have a political motivation as well. While Tehran has been in a standoff with Washington over its nuclear program, left-wing Chavez is a bitter antagonist of Bush. U.S. sanctions on Iran also have made it increasingly difficult for the country to do business in dollars.
Saudi minister warns of dollar collapse
Edmund Conway
London Telegraph
November 17, 2007
The dollar could collapse if Opec officially admits considering changing the pricing of oil into alternative currencies such as the euro, the Saudi Arabian foreign minister has warned.
Prince Saud Al-Faisal was overheard ruling out a proposal from Iran and Venezuela to discuss pricing crude in a private meeting at the oil cartel’s conference.
In an embarrassing blunder at the meeting in Riyadh, ministers’ microphones were not cut off during a key closed meeting, and Prince Al-Faisal was heard saying: “My feeling is that the mere mention that the Opec countries are studying the issue of the dollar is itself going to have an impact that endangers the interests of the countries.
“There will be journalists who will seize on this point and we don’t want the dollar to collapse instead of doing something good for Opec.”
After around 40 minutes press officials cut off the feed, which had been accidentally broadcast to the press room.
Prince Al-Faisal added: “This is not new. We have done this in the past: decide to study something without putting down on paper that we are going to study it so that we avoid any implication that will bring adverse effects on our countries’ finances.”
Opec unites behind higher prices, Oil Sees $200 if Iran is Invaded
Huge Chavez predicts: “If the United States does a crazy thing of Invading Iran or attacking Venezuela again, the barrel of oil is not just going to reach $100 US Dollars it could make it to $200 US Dollars.”
Paul Gottfried
Financial Times
November 18, 2007
http://www.youtube.com/v/q5oUW5C02OQ&rel=1
Opec leaders meeting at the weekend summit in Saudi Arabia have differed sharply over the group strategy and purpose, but have united in defence of high oil prices.
Hugo Chavez, the left-wing president of Venezuela, opened the summit welcoming oil prices at close to $100 a barrel, describing them as “fair”. He called for the group to be “an Opec for geo-politics, an Opec for revolution,” adding “Opec was born as a geo-political actor, not as an economic or technocratic bloc.”
He also reiterated his warning that oil could hit $200 a barrel if the US attacked Iran. King Abdullah of Saudi Arabia, the summit’s host, gave a very different view of Opec’s objectives, saying it was intended to protect both its members’ interests and the world economy, and praising the group for acting in a “moderate and wise manner.”
However, he also appeared to justify oil prices at their current levels, saying that taking into account inflation, prices were still “not yet at the level of the 1980s.”
The summit in Riyadh, Saudi Arabia, only the third in the group’s 47-year history, will not take any decisions on short-term production levels, which will be assessed at the next ministerial meeting in Abu Dhabi on December 5. It is instead intended to set Opec’s long-term strategy, focusing on securing a central role for oil in the world economy. The draft of the declaration to be issued on Sunday emphasizes priorities such as investment in production capacity and the need for consuming countries to provide assurances of future demand. The summit is due to resume at 1500 local (1200 gmt).
Abdalla el-Badri, Opec’s secretary-general, called in his speech to the summit on Saturday for “transparency and predictability in consuming countries’ energy policies,” to give oil producers the confidence to invest in new capacity.
Oil rises over $95 on weak dollar
http://www.reuters.com/article/hotStoc…0071116
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Chávez sees oil at $200 if Iran invaded
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Filed under: Abu Dhabi, black monday, China, Credit Crisis, Dow, ECB, Economic Collapse, economic depression, Economy, Euro, european union, Federal Reserve, G7, gas prices, Germany, global economy, gold, Great Depression, Greenback, housing market, Inflation, interest rate cuts, Japan, Oil, OPEC, Petrol, Sarkozy, Saudi Arabia, Stock Market, UAE, US Economy, US Treasury
Oil jumps over $90 a barrel, dollar sinks to new low against the euro
FT
October 19, 2007
Crude oil prices on Friday rose to a fresh all-time high above $90 a barrel as the US dollar sunk to a new low against the euro.
Persistent worries about tight supplies ahead of the winter peak season and fresh geopolitical tensions also helped to push prices higher.
Nymex November West Texas Intermediate hit $90.02 a barrel in overnight trading. It later was 10 cents higher at $89.57 a barrel, extending Thursday’s $2.07 price jump. It is the sixth straight trading day that oil set a record high.
Edward Morse, chief energy economist at Lehman Brothers in New York, said that financial flows betting on further US dollar weakness ahead of the Group of Seven meeting and the US Federal Reserve meeting were propping up the oil price.
The dollar traded on Friday to $1.4303 against the euro, after touching earlier a record low of $1.4311 per euro. Investors are betting on a further interest rate cut when the Federal Reserve meets on October 31.
A lower dollar cuts the purchasing power of the barrel, suggesting that producing countries, such as Saudi Arabia, would try to keep the oil price higher to compensate for it. The strength of the euro, the sterling pound and other currencies also mean that some countries, particularly in Europe, are partially insulated from the oil price rally.
David Moore, a commodity strategist at the Commonwealth Bank of Australia in Sydney, said: “The dollar fell to new lows overnight. That fact has been a boost to all commodity prices.”
The Nymex December West Texas Intermediate contract which will become the oil market benchmark early next week traded at $88.01 a barrel, after hitting $88.49 a barrel.
Nauman Barakat, senior vice president at Macquaire Futures in New York, warned that traders have built massive December options calls -rights to buy oil at a certain price- at $90 and $100 a barrel, providing the backdrop for “additional upward impetus.”
Kevin Norrish of Barclays Capital said that the issue no longer seems to be whether oil will reach $100 a barrel, but when.
“Until there is a clear prospect of the [supply-demand] gap being filled, then the course is set for the market to take out $90, $100 and $110 in fairly quick succession,” Mr Norrish said.
Low inventories crude oil inventories ahead of the winter season are also supporting prices, traders said.
OECD crude oil and products stocks have fallen below their 5-year average, after the inventories suffered a counter-seasonal drop in the third quarter.
The IEA estimates that between July and September inventories fell at a rate of 360,000 barrels a day, sharply diverging from a 10-year average of increases in that period of about 260,000 b/d.
Inventories at Cushing, Oklahoma, the delivery point for the New York Mercantile Exchange crude oil contract are running 19 per cent below last year.
The Organisation of the Petroleum Exporting Countries, which controls 40 per cent of the world’s crude oil output, denies that the market is tight, instead blaming speculation, the weakening of the dollar and Middle East tensions for the 13 per cent jump in prices in the past week.
The price jump could force Opec to call for an emergency meeting ahead of its head of state summit in Riyahd, Saudi Arabia, in late November, and its ministerial meeting in Abu Dhabi, United Arab Emirates, in early December.
Saudi Arabia, the cartel’s leader, has remained silent on whether to increase production further, but at the last Opec meeting it pushed for a production boost in spite of strong opposition from other countries, suggesting the kingdom is concerned about the impact of high oil prices on the global economy.
Opec officials said the cartel’s ministers were just returning from holidays after the end of the Ramadan, implying it may take extra time for the group to discuss a new production increse.
Dollar dives as US slump spreads
Telegraph
October 20, 2007
The dollar has plummeted to all-time lows against both the euro and a basket of global currencies amid growing fears of a disorderly rout as the US property slump spreads to the broader economy.
Ambrose Evans-Pritchard: Is there really a sea of limitless liquidity?
The greenback dived after the US ‘Philly’ business index dropped 10.9 to 6.8 in October, with a shock fall in new orders and inventory, raising the chances of further rate cuts by the Federal Reserve this month.
The dollar crossed the barrier of $1.43 against the euro; the broader dollar index fell to 77.478, the lowest since the series began in 1973.
The plunge follows data released this week by the US Treasury showing a record $163bn (£80bn) exodus from all forms of US assets, led by unprecedented levels of US bonds sales by Japan, China and Taiwan.
Bundesbank chief Axel Weber gave the euro an extra lift by hinting strongly at more rate rises in Europe to head off inflation, expected to reach 2.6pc in Germany.
The growing belief the European Central Bank may keep tightening despite the credit crunch has caused traders to shift gear, renewing bets on the euro. But the surging currency has hit confidence in Europe, where industries in France, Italy and some German firms are warning of serious knock-on effects.
Airbus says each one cent move costs the group $100m in profits.
Ernest-Antoine Seilliere, head of the EU-wide lobby BusinessEurope, called for “political intervention” by the G7 club of economic powers at today’s meeting in Washington.
Rodrigo Rato, head of the International Monetary Fund, offered little hope of relief. “Our view regarding the euro is that the euro stays in line with medium-term fundamentals on a multilateral basis. It is true the euro is close to historic highs in real terms, but it is also true the euro-area current account is in broad balance,” he said.
French president Nicolas Sarkozy has called for EU action to force a shift in exchange rate policy, if necessary by strong-arming the ECB to halt its campaign of rate rises.
Germany has a huge trade surplus, but France faces the biggest deficits in its history. Spain’s current account deficit is 9pc of GDP.
The US has adopted a policy of benign neglect towards the dollar slide, seeing it as a way to correct a huge current account deficit, but there are now concerns the process may be getting out of hand.
The Manufacturers Alliance/MAPI said in its quarterly outlook the soft dollar was complicating life for America’s key trading partners and risked triggering a global slowdown. “Global sentiment against the dollar is gaining traction, generating daunting challenges for the short-term economic outlooks of major US trading partners.”
Mitul Kotecha, an economist with Calyon, said: “The United States will do no more than repeat that markets determine exchange rates and will oppose any sort of intervention. There is every chance the aftermath of the G7 meeting will see the dollar resume its weakness.”
Paul Robinson, an analyst at Barclays Capital, said the prospect of Fed rate cuts had knocked away a key prop for the dollar, warning it could slide to $1.50 against the euro.
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Filed under: 9/11 Truth, Abu Dhabi, Alan Greenspan, bernanke, carlyle group, economic depression, Economy, engineered recession, Federal Reserve, George Bush, global elite, Great Depression, Greenback, housing market, Inflation, Nasdaq, private banks, Ron Paul, Saudi Arabia, Stock Market, UAE, We Are Change
Greenspan Confronted By Activists, Flees From Angry Mob
WeAreChange Unmask Former Federal Reserve Chair’s Role in Globalist Takeover and Currency Assassination
Aaron Dykes
Prison Planet
September 21, 2007
Activists angry at Alan Greenspan’s recent deliberate attack on the U.S. dollar— which has already resulted in further devaluation and asset seizure by foreign entities– gathered at an event in New York to confront the former Federal Reserve Chairman on his shameful actions in contributing to a dollar collapse.
Members of WeAreChange.org were grabbed by police and forced out of the building after criticizing Greenspan for “destroying the country.” Individuals who waited in line to ask Greenspan a question were told that there were “no interviews” by event handlers, who then signaled for police to take over.
http://www.youtube.com/watch?v=S5wfNnV6vTU
Nate Evans was grabbed by more than four officers after criticizing the “Federal” private bank Greenspan previously headed. Other activists confronted Alan Greenspan as he left the event, giving him a public shaming for acting on behalf of his globalist masters.
While the globalist-controlled mainstream media rewards economic sabotage by portraying Greenspan and other financiers as economic ‘saviors,’ it is refreshing to know that many others are standing up in defiance of deliberate devaluation.
Congressman Ron Paul ripped into current Federal Reserve Chairman Ben Bernanke yesterday for intentionally weakening the dollar and misleading the public when his sole function is supposed to be maintaining the value of the dollar.
Now activists from WeAreChange.org are taking commendable action to expose the fact that these financial figureheads– and not a subservient Bush Administration– are to blame for the unfolding consolidation of middle-class wealth as well as the liquidation of U.S. infrastructure to foreign and global interests– a frightening and intentionally-triggered phenomenon that has already surfaced in publicized buyouts such as the Saudi acquisition of NASDAQ shares and Abu Dhabi’s stake in the Carlyle Group.
We salute individuals like Nate Evans, Gary, Luke Rudkowski, Matt Lepacek and others from WeAreChange.org, as well as the few in Congress like Ron Paul and Bernie Sanders willing to take action and expose the real culprits of U.S. currency assassination.
Greenspan Admits Fed Is Above The Law
Abe Day
Prison Planet
September 21, 2007
This week, former chairman of the Fed Reserve Alan Greenspan in an interview aired on PBS’ News Hour was asked by Jim Lehrer what should be the proper relationship between a chairman of the Fed and The President of the United States. In a shockingly honest tone Greenspan replies,
“Well, first of all, the Federal Reserve is an independent agency, and that means, basically, that there is no other agency of government which can overrule actions that we take. So long as that is in place and there is no evidence that the administration or the Congress or anybody else is requesting that we do things other than what we think is the appropriate thing, then what the relationships are don’t, frankly, matter.”
This issue with the Fed being above government is one of the key things We The People need to understand in order to wake up to the awful situation that we have found ourselves in. Our wealth, our labor, and anything we gain buy being productive has been stolen from us since the Federal Reserve took over our money system in the 1913.
Most people believe the Fed to be a government agency overlook by the President of the United States. Others fully believe the statements of Mr. Greenspan but don’t really understand what it means to have an “independent agency” (i.e. private banks) be above The Presidency, The Congress and Senate, and the Supreme court of the United States. This power to create money has been given over to a group of businessmen not beholden to our U.S Constitution; a document to protect our God given freedoms from tyranny. Hopefully enough of our rising generation can learn this sad truth and vote to return the power to regulate money back into the hands of those to whom it belongs…We The People.
Related News:
Greenspan: House Prices To Drop Much Lower
http://www.reuters.com/article/newsOne/idUSL2146624120070921?sp=true
Jon Stewart to Alan Greenspan: Why Do We Need the Fed?
http://www.jbs.org/node/5640
Greenspan Working To Destroy US Economy
http://infowars.net/articles/september2007/180907Greenspan.htm
Alan Greenspan Defends Himself
http://www.youtube.com/watch?v=m6b4qX_qm40
Greenspan predicts falling house prices, rising inflation
http://money.guardian.co.uk/news_/story/0,,2171622,00.html
Greenspan says euro could replace U.S. dollar as reserve currency of choice
http://www.iht.com/articles/ap/2007/09/17/bus….nspan-Euro.php
Greenspan Says China Will Determine World Economic Fate in 2030
Alan Greenspan warns of UK house prices drop
Greenspan alert on US house prices
Alan Greenspan claims Iraq war was really for oil
Filed under: Abu Dhabi, bin laden, Borse Dubai, Bush Sr., carlyle group, Economy, George Bush, Globalism, Nasdaq, Saudi Arabia, UAE
Abu Dhabi takes ownership stake in Carlyle Group
Arab emirate’s investment ties with Bush family deepen
Jerome R. Corsi
World Net Daily
September 21, 2007
The Financial Times announced last night the government of Abu Dhabi has made an investment in the Carlyle Group, a Washington-based private investment firm with close ties to former President George H. W. Bush and his family, as well as to top government officials in the Reagan and Clinton administrations.
Mubadala, a wholly owned investment arm of the Abu Dhabi government, bought a 7.5 percent share of the Carlyle Group in a transaction in which the deal price was struck at a 10 percent discount to a valuation of $20 billion for all of the Carlyle Group.
Abu Dhabi is the largest of the seven emirates of the United Arab Emirates and the capital.
Crown Prince Sheikh Mohammed Bin Zayed Al Nahyan of the Abu Dhabi ruling family is the chairman of Mubadala.
WND reported Dubai International Capital, a private equity investment capital firm that is a wholly owned subsidiary of Dubai Holdings, has commonly participated in co-investments with the Carlyle Group.
Dubai, like Abu Dhabi, is one of the seven emirates that form the UAE.
WND reported yesterday Dubai, in a complex set of transactions, is moving to acquire 19.9 percent of the Nasdaq stock market in New York, in the first equity transaction which would place a Middle Eastern government in an ownership position in a key U.S. stock exchange.
As a result of the transaction, Dubai will also acquire 28 percent of the London Stock Exchange, one of the oldest and largest stock exchanges in the world.
The transaction is being made through Borse Dubai, a holding company 100 percent owned by the government of the Emirate of Dubai and controlled by Mohammed bin Rashid al-Maktoum, the head of the Dubai ruling family.
Should Dubai Buy Part of the Nasdaq?
http://www.usnews.com/blogs/cap…-the-nasdaq.html
Dubai to get 20% share in Nasdaq
http://www.youtube.com/watch?v=LYPobSSPloo
noworldsystem.com 