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Bankers Get $4 Trillion Gift From Barney Frank

Bankers Get $4 Trillion Gift From Barney Frank

Cryptogon
December 30, 2009

Via: Bloomberg:

I quickly discovered why members of Congress rarely read legislation like this. At 1,279 pages, the “Wall Street Reform and Consumer Protection Act” is a real slog. And yes, I plowed through all those pages. (Memo to Chairman Frank: “ystem” at line 14, page 258 is missing the first “s”.)

The reading was especially painful since this reform sausage is stuffed with more gristle than meat. At least, that is, if you are a taxpayer hoping the bailout train is coming to a halt.

If you’re a banker, the bill is tastier. While banks opposed the legislation, they should cheer for its passage by the full Congress in the New Year: There are huge giveaways insuring the government will again rescue banks and Wall Street if the need arises.

Nuggets Gleaned

Here are some of the nuggets I gleaned from days spent reading Frank’s handiwork:

– For all its heft, the bill doesn’t once mention the words “too-big-to-fail,” the main issue confronting the financial system. Admitting you have a problem, as any 12- stepper knows, is the crucial first step toward recovery.

– Instead, it supports the biggest banks. It authorizes Federal Reserve banks to provide as much as $4 trillion in emergency funding the next time Wall Street crashes. So much for “no-more-bailouts” talk. That is more than twice what the Fed pumped into markets this time around. The size of the fund makes the bribes in the Senate’s health-care bill look minuscule.

 



War tax proposed to pay for protecting Afghan opium fields, bribing Taliban

Obama Allies Want New Tax To Pay For Cost Of Protecting Afghan Opium Fields, Bribing Taliban

Paul Joseph Watson
Prison Planet.com
November 20, 2009

Not content with savaging American taxpayers with two huge new financial burdens during an economic recession, in the form of health care reform and cap and trade, close allies of Barack Obama have proposed a new war surtax that will force Americans to foot the bill for the cost of protecting opium fields in Afghanistan, paying off drug lords, and bribing the Taliban.

Warning that the cost of occupying Afghanistan is a threat to the Democrats’ plan to overhaul health care, lawmakers have announced their plan to make Americans pay an additional war tax that will be taken directly from their income, never mind the fact that around 36 per cent of federal taxes already go to paying for national defense.

“Regardless of whether one favors the war or not, if it is to be fought, it ought to be paid for,” the lawmakers, all prominent Democratic allies of Obama, said in a joint statement on the “Share The Sacrifice Act of 2010 (PDF),” reports AFP.

The move is being led by the appropriately named House Appropriations Committee Chairman Dave Obey, Representative John Murtha, who chairs that panel’s defense subcommittee; and House Financial Services Committee Chairman Barney Frank.

The tax would apply to anyone earning as little as $22,600 per year in 2011.

The proposal is described as “heavily symbolic” with little chance of passing, but it once again illustrates the hypocrisy of an administration that swept to power on the promise of “change” to the Neo-Con imperial agenda and a resolve to reduce U.S. military involvement overseas. In reality, there are more troops in Iraq and Afghanistan now under Obama that at any time during the Bush administration.

At the height of the Bush administration’s 2007 “surge” in Iraq, there were 26,000 US troops in Afghanistan and 160,000 in Iraq, a total of 186,000.

According to DoD figures cited by The Washington Post last month, there are now around 189,000 and rising deployed in total. There are now 68,000 troops in Afghanistan, over double the amount deployed there when Bush left office.

What precisely would this extra tax be used to pay for? Namely, bribing the Taliban, paying off CIA drug lords, and protecting heroin-producing opium fields.

Numerous reports over the past two weeks have confirmed that the U.S. military is paying off the Taliban with bags of gold to prevent them from attacking vehicle convoys, proving that there is no real “war” in Afghanistan, merely a business agreement that allows the occupiers to continue their lucrative control of record opium exports while they finalize construction of dozens of new military bases from which to launch new wars.

The Afghan opium trade has exploded since the U.S. invasion of Afghanistan, following a lull after the Taliban had imposed a crackdown. According to the U.N., the drug trade is now worth $65 billion. Afghanistan produces 92 per cent of the world’s opium, with the equivalent of at least 3,500 tonnes leaving the country each year.

This racket is secured by drug kingpins like the brother of disputed president Hamid Karzai. As a New York Times report revealed last month, Ahmed Wali Karzai, a Mafia-like figure who expanded his influence over the drug trade with the aid of U.S. efforts to eliminate his competitors, is on the CIA payroll.

As Professor Michel Chossudovsky has highlighted in a series of essays, the explosion of opium production after the invasion was about the CIA’s drive to restore the lucrative Golden Crescent opium trade that was in place during the time when the Agency were funding the Mujahideen rebels to fight the Soviets, and flood the streets of America and Britain with cheap heroin, destroying lives while making obscene profits.

Any war surtax will merely go straight to maintaining the agenda that Obama inherited from Bush, the continued looting of Afghanistan under the pretext of a “war on terror” that, as revelations about bribing the Taliban prove, doesn’t even exist.

U.S. Army paying the Taliban not to shoot at them

 



Bailout Bill Fails But May Revive And Pass Anyways

Bailout Bill Fails But May Revive And Pass Anyways

Bloomberg
September 30, 2008

The U.S. Senate will try to salvage a $700 billion financial-rescue package after the measure was defeated in the House of Representatives. The lawmakers won’t have a lot of room to negotiate.

While the legislation will need to be tweaked enough to win over reluctant House Republicans, the lawmakers will risk losing votes from Democrats if they veer too far from the delicate compromise that congressional leaders hammered out with the U.S. Treasury.

“They’re not going to totally revamp the bill,’’ said Pete Davis, president of Davis Capital Investment Ideas in Washington, who spoke to House and Senate leaders yesterday. “They’ll make some minor changes and pass it. This is all about political cover.’’

Read Full Article Here

 

Kudlow Schooled: ‘You’ve Become A Socialist – Your Version Of Socialism Is To Bail Out The Rich’

 

Paulson: King Paulson or Convict Paulson

Recent News:

Bank of America to close credit cards for approximately 60% of customers? (by Oct 1)
http://mparent7777-1.livejournal.com/1933222.html

House Clears $25 Billion For Carmakers
http://www.ft.com/cms/s/0/83bfe68c-8a8f-11dd-a76a-0000779fd18c.html

Home builders will ask for $90 billion bailout
http://money.cnn.com/2008/09..ion=2008092608

I’ve watched the economy for 30 years. Now I’m truly scared
http://www.guardian.co…/globaleconomy.creditcrunch

Treasury explains how it came up with $700 billion: We just wanted ‘a really large number.’
http://thinkprogress.org/2008/09/24/treasury-large-number/

Stocks rallied a day after failed $700B wallstreet bailout
http://money.cnn.com/2008..?postversion=2008093009

US will lose superpower status, claims German minister
http://www.telegraph.co.uk/finance/..-superpower-status-crows-Germany.html

$1 Quadrillion of Unregulated Debt At Core of Coming Derivatives Crisis
http://www.americanfreepress.net/html/coming_derivatives_crisis_150.html

China Banks Told To Stop Lending To U.S. Banks
http://www.reuters.com..PEK16693720080925

Refusing Dollar as “World Currency” Inevitable
http://capital.trendaz.com/index.shtml?show=news&newsid=1304435〈=EN

U.S. Heading for Slump, With or Without Bailout
http://www.bloomberg.com/apps/news..efer=home

Putin Promises $50Bln For Banks
http://www.themoscowtimes.com/article/1010/42/371301.htm

Dexia bank gets multi-nation $9.2B bailout
http://biz.yahoo.com/ap/080930/eu_belgium_dexia.html

Home Prices in 20 U.S. Cities Declined 16.3% in July
http://www.bloomberg.com/apps/news?.d=aEyKpTpk90C0&refer=us

Rothschilds and the Bank of England Own The Federal Reserve (JP Morgan, Rockefeller, Lehman Brothers, Warburg)
http://newsfromthewest.blogspot.com/2008/05/who-owns-federal-reserve.html

Chavez says U.S. can’t fix financial crisis
http://www.reuters.com/article/marketsNews/idUSLQ4692420080926

The Hanky Panky Banking Bailout Bill
Rep. Kaptur responds to Bush’s address on failed bailout bill
RBS will get ‘billions’ in US bail-out of economy
Jobless Claims Pushed To 7-Year High
Dow Drops 777 Points
680% Inflation?
Nasdaq tanks, down 6%
California Home Prices Drop Record 41% Amid Defaults
Rumors Trigger Bank Run In Hong Kong
New Home Sales Plunged 11.5% to 17-Year Low
Wachovia Stock Sinks On WaMu News

U.S. Economy Collapse News Archive

 



Ron Paul: Bernanke Admits Inflation is a Tax

Ron Paul: “Some Big Events Are About To Occur”

Steve Watson
Infowars.net
July 17, 2008

http://www.youtube.com/watch?v=06awZjZTVlQ


Texas Congressman Ron Paul has warned the House that he is “convinced the time is now upon us that some Big Events are about to occur.” that will cause liberty to go “into deep hibernation”.

Paul told the House:

“These fast-approaching events will not go unnoticed. They will affect all of us. They will not be limited to just some areas of our country. The world economy and political system will share in the chaos about to be unleashed.”

“There are reasons to believe this coming crisis is different and bigger than the world has ever experienced. Instead of using globalism in a positive fashion, it’s been used to globalize all of the mistakes of the politicians, bureaucrats and central bankers.” Paul continued.

In one of Paul’s most memorable speeches to date, the Congressman spoke of rampant authoritarianism having replaced the principles of liberty that the United States was founded upon and warned that current empire building financed through inflation and debt signals a most frightening period in history.

“Our arrogance and aggressiveness have been used to promote a world empire backed by the most powerful army of history. This type of globalist intervention creates problems for all citizens of the world and fails to contribute to the well-being of the world’s populations. Just think how our personal liberties have been trashed here at home in the last decade.” Paul urged fellow representatives.

Paul outlined the history of the current economic crisis and alluded to key events such as the inception of the Federal Reserve System, the creation of the Bretton-Woods Monetary System and the creation of a “dollar bubble”.

“This bubble is different and bigger for another reason.” Paul argued.

“The central banks of the world secretly collude to centrally plan the world economy. I’m convinced that agreements among central banks to “monetize” U.S. debt these past 15 years have existed, although secretly and out of the reach of any oversight of anyone–especially the U.S. Congress that doesn’t care, or just flat doesn’t understand.”

Yesterday, the Congressman also confronted Federal Reserve Chairman Ben Bernanke over what he described as a 35 plus year dollar bubble, telling him “You are probably the biggest taxer in the country”, citing the inflationary fiat money system as the most unfair and regressive form of taxation there is.

A stunned Bernanke put up little resistance and simply agreed with Paul, stating “Congressman, I couldn’t agree with you more that inflation is a tax, and that inflation is currently too high.”

Paul also pointed out that government bail out packages for lenders will inevitably lead to a further increases in the already stratospheric national debt.

Read Full Article Here

 

Ron Paul on Kudlow and Company

http://www.youtube.com/watch?v=O5vEM-FlMtg

Part 1

http://www.youtube.com/watch?v=BD11WJpJvSg

Part 2

 

Ron Paul on Glenn Beck

http://www.youtube.com/watch?v=7KBEr73zOPk

 

Ron Paul on Fox Business News

http://www.youtube.com/watch?v=g6tRwAdl1Iw

 



Ron Paul Q&A in Hearing on Iran Policy

Ron Paul Q&A in Hearing on Iran Policy – (7/9/2008)

http://au.youtube.com/watch?v=WNVle82XVks

http://au.youtube.com/watch?v=iwXsbjij6E8

http://au.youtube.com/watch?v=l1y47K29J1o

 



Dems Prep Another Stimulus Package, Bush May Veto

Dems Prep Another Stimulus Package, Bush May Veto

Reuters
July 1, 2008

Democrats in the U.S. Congress are gearing up to pass a second election-year economic stimulus package, but unlike the $152 billion measure that passed in February, they are not counting on getting the support of President George W. Bush.

Leaders in the House of Representatives and Senate are discussing with key committee chairmen the shape of another emergency spending bill that would again aim to spur the economy and help those hurt by the economic slowdown, several congressional aides said on Tuesday.

This comes on the heels of this week’s enactment of increased jobless benefits, another Democratic priority.

Infrastructure projects — road and bridge building and other government-funded construction — top the list, according to those aides. At least $8 billion in funds could be sought just for these projects, although aides said there were no firm cost estimates yet for any portion of the legislation.

Rep. Barney Frank, the Massachusetts Democrat who chairs the House Financial Services Committee, is hoping such a bill also would help deal with some problems related to the unfolding home mortgage crisis, especially if Bush vetoes a broader bill moving through Congress.

“The second stimulus package should include money to the states and cities to buy foreclosed properties,” Frank told Reuters in a telephone interview.

If a second economic stimulus bill advances and it follows the formula of emergency measures enacted this year, the new stimulus would add to already steep deficits that worry fiscal conservatives.

Last week, Senate Majority Leader Harry Reid, a Nevada Democrat, told reporters, “I think that we’re going to come back at a later time and do other things that are extremely important.” He singled out the need for more money for disaster relief, law enforcement and a program that helps low-income families pay their heating and cooling bills.

Reid’s spokesman, Jim Manley, said Reid and House Speaker Nancy Pelosi of California have held several conversations on possible legislation.

“July might be a little quick to pull it off. September seems more likely” following a month-long August recess, said one House aide, who asked not to be identified.

Last January and February, the White House and congressional Republicans displayed rare bipartisanship when they worked to enact a $152 billion plan, mostly tax rebates, to stimulate the economy by trying to boost consumer spending.

In crafting that package, Democrats gave up, at least temporarily, on a series of initiatives they wanted, from more food stamps for the poor to expanded unemployment benefits and government-funded construction projects.

Bush opposed those add-ons, citing cost concerns.

Read Full Article Here

 



Keith Olbermann – Larry Craig Reenactment

Keith Olbermann – Larry Craig Reenactment

http://www.youtube.com/watch?v=sjGu8D64cuE

Larry Craig Pervert Scandal Is Tip Of The Iceberg
Media ignores lurid history of snuff style sex scandals

Paul Joseph Watson
Prison Planet
August 30, 2007

Revelations about Senator Larry Craig that have mired the Republicans in another sex scandal over the past few days continue to rumble across the media spectrum – but the true scale of perversion, organized child sex slavery rings and their connections to the elite is uniformly omitted from polite conversation.

Last year, Republican Rep. Mark Foley was investigated by the FBI after he sent sexually suggestive e mails to boys working as congressional pages. It later emerged that House leaders had known for months about Foley’s lurid behavior yet chose to look the other way. Foley was co-chairman of the Congressional Missing and Exploited Children’s Caucus.

Larry Craig, albeit on a lesser scale, has now been exposed as a pervert and the media treadmill continues to afford this individual case blanket coverage – a deluge of attention not received by the thousands of missing children and victimized young men who were and continue to be the victims of gargantuan forced child prostitution rings that operate to service political, corporate and media elites all across the globe.

On June 29 1989, the Washington Times’ Paul M. Rodriguez and George Archibald reported on a Washington D.C. prostitution ring that had intimate connections with the White House all the way up to President George H.W. Bush. Male prostitutes had been given access to the White House and the article also cited evidence of “abduction and use of minors for sexual perversion.”

In July 1990 a Nebraska Grand Jury was convened to hear allegations that Lawrence “Larry” King, then manager of the Franklin Community Federal Credit Union and a rising Republican party star, along with Washington lobbyists, had set up a child prostitution ring in which minors were transported around the country and forced to have sex with King, other top officials, and according to victims who some allege were later harassed into recanting, then-Vice-President Bush.

http://www.youtube.com/watch?v=Ki1y06C6VOo

Congressman Barney Frank (D-MA) was identified by victims as having engaged in the abuse and in a bizarre twist of fate, appeared on Bill Maher’s show last year and made jokes about the outing of Larry Craig as another homosexual Republican.

The Grand Jury dismissed the case as a hoax but former Nebraska State Senator John DeCamp later investigated the claims and was horrified to learn that they were indeed legitimate.

Click on the enlargements to read the 1989 Washington Times expose.

The video which you can watch in full below, Conspiracy of Silence, was produced by British Yorkshire Television and was scheduled to air nationwide in the U.S. on the Discovery Channel on May 3, 1994. Despite appearing in TV guides, the documentary was pulled at the last minute. Key politicians implicated in the scandal intimidated Discovery into canning the program and it was never shown in the U.S.

The documentary team interviewed victims of the Franklin cover-up scandal and proved beyond a shadow of a doubt that Washington’s political elite had been involved in Larry King’s pedophile ring.

http://video.google.com/videoplay?docid=359924937663867563&hl=en

Connections between male prostitutes and the White House emerged again in early 2005, when James Dale Guckert, working under the pseudonym Jeff Gannon, was given privileged access to the White House despite his lack of suitable press credentials. Gannon first came under scrutiny when he repeatedly gave President Bush softball questions during press conferences – leading many to charge Gannon was a White House plant. Photos emerged of Bush embracing Gannon and appearing very affectionate towards him during meetings. It later came out that Gannon had previously placed ads on homosexual escort service websites.

In almost every case of human trafficking for child sex slavery, from Chile to Australia, to Bosnia, to Portugal, to Belgium, court proceedings get shut down or diverted when a clear connection to the elite arises.

In the mid 1990’s, convicted child rapist Marc Dutroux built a secret prison cell in his Charleroi basement where he kept abducted young girls hostage at the behest of what he called “a big crime ring,” which in the 2004 court case was thought by many to encompass some of Belgium’s top politicians, judges and policemen. The reason why it took so long to apprehend Dutroux was that he was being legally protected by these same individuals.

Material witnesses at the trial described “child sex parties involving judges, politicians, bankers and members of the royal family.” Victims that managed to survive (most were butchered snuff style after being raped) verified the claims.

Police actually visited Dutroux’s home and heard the cries of help from children concealed in his basement yet believed Dutroux’s explanation that the sounds were coming from kids playing in the street.

Dutroux was eventually convicted for his role in the pedophile ring but the involvement of the elite of the country was never properly investigated.

After Dyncorp and Halliburton contractors were exposed as having operated child prostitution rackets in the Balkans from the late 1990’s onwards (and more recently in the case of Halliburton), Rep. Cynthia McKinney attempted to get answers as to why the U.S. government continued to do business with these corporations.

On March 11th 2005, McKinney grilled Secretary Rumsfeld and General Myers on the Dyncorp scandal and its protection by the U.S. government.

“Mr. Secretary, I watched President Bush deliver a moving speech at the United Nations in September 2003, in which he mentioned the crisis of the sex trade. The President called for the punishment of those involved in this horrible business. But at the very moment of that speech, DynCorp was exposed for having been involved in the buying and selling of young women and children. While all of this was going on, DynCorp kept the Pentagon contract to administer the smallpox and anthrax vaccines, and is now working on a plague vaccine through the Joint Vaccine Acquisition Program. Mr. Secretary, is it [the] policy of the U.S. Government to reward companies that traffic in women and little girls?”

In late 2005, Halliburton subsidiary KBR and Dyncorp lobbyists worked in tandem with the Pentagon to stall legislation that would specifically ban trafficking in humans for forced labor and prostitution by U.S. contractors.

Where were the investigations and convictions in other cases of establishment orchestrated child slavery and prostitution? Like the NATO officials responsible for the mushrooming of child prostitution in Kosovo?

What happened to UN officials identified as using a ship charted for ‘peacekeepers’ to bring young girls from Thailand to East Timor as prostitutes?

The U.S. media largely failed to even report many of these cases at the time yet Larry Craig’s bathroom activities, which are without a doubt perverted, creepy and fully worthy of a disorderly conduct charge, are given a hundred times more press coverage than huge sex slavery scandals with ties to the elite that resulted in the abduction, abuse, rape and murder of thousands of children across the globe – many of which are still missing today.

In addition, Wikipedia allows the page detailing a list of such Republican sex scandals to be deleted by trolls as if no such scandals ever took place!