Filed under: 9/11, american revolution, aristocrats, Bank of England, Big Banks, bloodline, Bohemian Grove, brain manipulation, brainwashing, bush, cathy o'brien, central bank, Child Abuse, child porn, child sacrifice, child sex slavery, clinton, Conditioning, Congress, depression, devaluation, Dictatorship, education, Empire, Eugenics, Fascism, Federal Reserve, Gerald Ford, global government, globalist elite, Goldman Sachs, Great Depression, Illuminati, indoctrination, internationalist, jesuit, manipulation, market manipulation, mason, nation building, New World Order, NWO, obama, occupation, one world governmnet, Pentagon, Population Control, programming, progressives, Propaganda, queen, rape, ritual abuse, ruling class, secret meetings, Secret Societies, Senate, sexual abuse, slavery, softkill, Stock Market, svali, Torture, vatican, Wall Street, whistleblower, Zionism | Tags: Dissociative Identity Disorder, obama bush related
Is the Vatican Practicing Child Sacrifice?
NoWorldSystem
January 13, 2010
“Nothing, in this world, works the way you think it does.” -Jordan Maxwell
Child sacrifice, trauma-based mind control, what do they have in common? They are both used by the largest cult in the world; the Illuminati.
The Illuminati is a cult created by Adam Weishavpt on May 1, 1776. It is a culmination of secret societies that strive to create a global government called a ‘New World Order’, where the United Nations is the framework for the birth of global institutions (ex: WHO, IMF).
The main agenda of the Illuminati is to completely control all governments, religious and financial institutions of the world. Unfortunately they have succeeded in that effort, they have total dominance over the United States (the seal of the Illuminati is on the back of the one-dollar bill), Russia, the European Union and even the Vatican.
They stage military coups against opposing government, install agents and create a puppet-government so that they become in favor of a New World Order. They have infiltrated the mainstream media, all forms of entertainment and even public schools. We all live in this scientific dictatorship that many aren’t aware of, the public is in a trance, our beliefs and opinions are constantly being shaped so that we are in favor of the agenda. One example is Global Warming, promoting the idea that Co2 is a deadly pollutant that should be taxed on a global scale and that a One World Government is needed to solve this problem.
We live in a world were one family bloodline is in control of this New World Order, the bloodline is called the Merovingian bloodline that dates back to the Priory of Sion, the group was sworn to protect the bloodline that now exists in the European monarchy. Many think that all U.S. presidents are elected ‘by the people’, the reality is all 45 U.S. presidents including Obama are the heirs of the Merovingian bloodline. For example, Obama and George W. Bush are 11th cousins and Queen Elizabeth and George W. Bush are 13th cousins.
Many still believe that this country won its independence from the British in 1776, the reality this country has always belonged to the British monarchy, stolen from the Native Americans. The ‘United States’ technically means a ‘Federal Corporation’ of the British crown, and the citizens are nothing more than indentured servants to Europe. The Private Bank called the U.S. Federal Reserve (the system that is now collapsing the U.S. economy through devaluation) is part owned by the Bank of England. Many wonder why big banks like Goldman Sachs and JP Morgan get taxpayer-funded bailouts, well it’s because they are too part owners of the U.S. Federal Reserve, private corporation.
To the elite, humans are all considered slaves that bear no ‘inheritable blood’ and they believe every aspect of human life should be regulated and taxed for the benefit of the elite. They believe that the human lifespan should be cut down by introducing toxic chemicals into our lives, they also believe they should “maintain humanity under 500,000,000 in perpetual balance with nature” according what is written on the Georgia Guidestones.
We are saturated in a mirth of television, drugs and entertainment for this reason, to keep the population away from the truth of what is being perpetuated against us.
Trauma-Based Mind Control
One of the ways the Illuminati influences the masses is by trauma-based mind control, by creating physical and mental pain on a victim so that they become groomed over time for leadership positions. Many whistleblowers for this reason have come out of the dark to reveal these secrets. Trauma-based mind control is used to create Dissociative Identity Disorder (DID), a condition in which a person displays multiple personalities that a mind control programmer is able to manipulate.
Svali (a pseudonym for obvious reasons) explains it best, she is an ex-Illuminati mind control programmer who was born into ‘the family’, she wrote an excellent book called Breaking the Chain – Breaking Free Of Cult Programming that exposes the nature of the cult in great detail.
- Intentional programming of an infant in the Illuminati often begins before birth. Prenatal splitting is well known in the cult, as the fetus is very capable of fragmenting in the womb due to trauma. This is usually done between the seventh and ninth month of pregnancy. Techniques used include: placing headphones on the mother’s abdomen, and playing loud, discordant music (such as some modern classical pieces, or even Wagner’s operas). Loud, heavy rock has also been used. Other methods include having the mother ingest quantities of bitter substances, to make the amniotic fluid bitter, or yelling at the fetus inside the womb. The mother’s abdomen may be hit as well. Mild shock to the abdomen may be applied, especially when term is near, and may be used to cause premature labor, or ensure that the infant is born on a ceremonial holiday. Certain labor inducing drugs may be also given if a certain birth date is desired.
Once the infant is born, testing is begun at a very early age, usually during the first few weeks of life. The trainers, who are taught to look for certain qualities in the infant, will place it on a velvet cloth on a table, and check its reflexes to different stimuli. The infant’s strength, how it reacts to heat, cold, and pain are all tested. Different infants react differently, and the trainers are looking for dissociative ability, quick reflexes, and reaction times. They are also encouraging early dissociation in the infant with these tests.
The infant will also be abused, to create fragments. Methods of abuse can include: rectal probes; digital anal rape; electric shocks at low levels to the fingers, toes, and genitalia; cutting the genitalia in ritual circumstances (in older infants). The intent is to begin fragmentation before a true ego state develops, and customize the infant to pain and reflexive dissociation from pain (yes, even tiny infants dissociate; I have seen it time and time again; they will glow blank and limp, or glassy, in the face of continued trauma.)
Isolation and abandonment programming will sometimes be begun as well, in a rudimentary sense. The infant is abandoned, or uncared for by adults, intentionally during the daytime, then picked up, soothed, cleaned up and paid attention to in the context of preparing for a ritual or group gathering. This is done in order to help the infant associate night gatherings with “love” and attention, and to help the bonding process to the cult, or “family”. The infant will be taught to associate maternal attention with going to rituals, and eventually will associate cult gatherings with feelings of security.
As the infant grows older, i.e. at 15 to 18 months, more fragmenting is intentionally done by having the parents as well as cult members abuse the infant more methodically. This is done by intermittently soothing, bonding with the infant, then shocking it on its digits; the infant may be dropped from heights to a mat or mattress and laughed at as it lays there startled and terrified, crying. It may be placed in cages for periods of time, or exposed to short periods of isolation. Deprivation of food, water, and basic needs may begin later in this stage. All of these methods are done in order to create intentional dissociation in the infant.
Child Sacrifice
In this interview, Svali explains a more public technique of trauma-based programming by child sacrifice carried out during an induction ceremony at the Vatican.:
Public trauma-based mind control has been used constantly against us, for example, 9/11. Many people were so traumatized from the events of September 11th that they would have believed anything the U.S. government had put out based on fear alone. Like torture, terrorism is used to intimidate or coerce subject(s) into behaving and thinking a certain way so that the person(s) remain obedient and do what they are told. 9/11 was the mega-ritual that has accomplished many goals including the invasion of Iraq and Afghanistan because we were constantly told that the terrorists will hit us again if we didn’t do something about it.
“Fear is a strong basis for mind control, whether it’s the kind of mind control that is the mass-mind control over a whole society or if it’s the kind of absolute robotic mind control that I experienced under MK-ULTRA on a U.S. Pentagon level.” -Cathy O’Brien
Cathy O’Brien is also a victim of mind control (was not born into ‘the family’), she tells her story how she was sold by a sexually abusive father to the military industrial complex; “A local politician that was sanctioning this child pornography ring was associated with my grandfather’s blue masonic lodge, when this one particular politician came to my father and told him he can receive immunity from prosecution if he would sell me into MK-ULTRA mind control. My father was thrilled, he agreed to sell me into the project and was trained in how to raise me for MK-ULTRA.”
Filed under: AIG, bailout, bank bailout, bankergate, Big Banks, central bank, corruption, Credit Crisis, DEBT, deception, despotism, Deutsche Bank, devaluation, Dictatorship, Dollar, dollar collapse, Economic Collapse, economic depression, Economy, Empire, end the fed, Federal Reserve, geithner, Goldman Sachs, Great Depression, Greenback, hyperinflation, Inflation, main street, Merrill Lynch, middle class, obama bailout, obama deception, scandal, SEC, Société Générale, Taxpayers, Tim Geithner, Wall Street
SEC Orders AIG Info Sealed Until November… 2018!
Business Insider
January 12, 2010
Good news. It looks as though we’ll be getting access to secret data on the bailout of AIG and its counterparties.
The bad news: We’re going to have to wait until November of 2018, according to Matthew Goldstein at Reuters.
- In May, the SEC approved a request by AIG to keep secret an exhibit to a year-old regulatory filing that includes some of the details on the most controversial aspect of the AIG bailout: the funneling of tens of billions of dollars to big banks like Societe Generale, Goldman Sachs (GS.N), Deutsche Bank (DBKGn.DE) and Merrill Lynch.
The SEC’s Division of Corporation Finance, in granting AIG’s request for confidential treatment, said the “excluded information” will not be made public until Nov. 25, 2018, according to a copy of the agency’s May 22 order.
The SEC said the insurer had demonstrated the information in the exhibit, called Schedule A, “qualifies as confidential commercial or financial information.” More
By then, Wall Street will have significantly recycled many people (and probably some more firms) and perhaps the American public just won’t care about how Tim Geithner helped bail out a gigantic black hole of a firm, upon which so many ostensibly rock solid firms had their foundation.
Filed under: Big Banks, central bank, Credit Crisis, DEBT, depression, despotism, Dictatorship, Economic Collapse, economic depression, Economy, Empire, Great Depression, housing bubble, housing market, hyperinflation, Inflation, job market, main street, middle class, mortgage crisis, Stock Market, unemployment, US Economy, Wall Street
No Jobs for The Next Ten Years?
Daily Bell
December 30, 2009
The decade ahead could be a brutal one for America’s unemployed – and for people with jobs hoping for pay raises. At best, it could take until the middle of the decade for the nation to generate enough jobs to drive down the unemployment rate to a normal 5 or 6 percent and keep it there. At worst, that won’t happen until much later – perhaps not until the next decade. The deepest and most enduring recession since the 1930s has battered America’s work force. The unemployed number 15.4 million. The jobless rate is 10 percent. More than 7 million jobs have vanished. People out of work at least six months number a record 5.9 million. And household income, adjusted for inflation, has shrunk in the past decade. Most economists say it could take until at least until 2015 for the unemployment rate to drop down to a historically more normal 5.5 percent. And with the job market likely to stay weak, some also foresee another decade of wage stagnation. Even though the economy will likely keep growing, the pace is expected to be plodding. That will make employers reluctant to hire. Further contributing to high unemployment is the likelihood of more people competing for jobs, baby boomers delaying retirement and interest rates edging higher. All this would come after a decade that created relatively few jobs: a net total of just 464,000. By contrast, 21.7 million new jobs were generated between 1989 and 1999. – Huffington Post
Dominant Social Theme: It’s looking grim?
Free-Market Analysis: There are a lot of statistics cited in this article but like many articles with a mainstream tone, most of them are besides-the-point or shed little illumination about what is going on. First of all the jobless rate in America is closer to 20-30 percent, we figure, when you throw in everyone who wants to work but can’t find work, even part-time work. And second, we distrust the other unemployment figures cited in this article. Finally, we look in vain for a reason as to why all this is happening. Can we find it somewhere else in the body of the article? Here’s some more:
That’s mainly because the economy’s recovery, sluggish by historical standards, isn’t expected to regain its vigor over the next few years. As a result, companies will be in no rush to ramp up hiring. Other analysts think the economy will recover the jobs wiped out by the recession by 2013 or 2014 but that the unemployment rate will stay high. They note that the healing economy will cause more people to stream back into the labor force, vying for too-few jobs.
In addition, baby boomers whose retirement accounts have shrunk could put off retiring and stay in the work force longer. That would leave fewer positions available for the unemployed. Other contributing forces – businesses squeezing more work from employees they still have and relying more on part-time and overseas help – have intensified. And record-high federal budget deficits and the threat of inflation could drive up interest rates, which could hobble growth and restrict job creation. All those factors could combine to keep unemployment high.
“It will be the mother of all jobless recoveries,” predicts economic historian John Steel Gordon. On the other hand, it’s possible some technological innovation not yet envisioned could generate a wave of jobs. Yet at the moment, most economists aren’t betting that any such breakthroughs will rescue the labor market.
The last time the jobless rate reached double digits, in the early 1980s, it took six years to bring it down to normal levels.
Unemployment hit a post-World War II high of 10.8 percent at the end of 1982 as the country was emerging from a severe recession. The rate fell to around 5 percent in 1988. It took less than two years for the number of jobs to return to its pre-recession level. In this recovery, the economy is far more fragile. Hard-to-get credit is exerting a drag. Wounds from the banking system’s worst crisis since the Great Depression will take years to fully heal. People and companies, scarred by the crisis, are likely to restrain borrowing, spending and investing.
From our perspective this article does what all such articles do, it describes what’s going on without explaining anything. You can read the whole article, and you’ll never come up with a reason why 20 percent or more of America is unemployed. Is it because people are lazy? They don’t want jobs even though they pretend they do?
We would write the article differently. We would start by explaining that for the past 100 years America’s manufacturing might has been disintegrating even though the country has looked relatively healthy. But the combination of the income tax and central banking, introduced in the ‘teens, has robbed the country of its industrial muscle. Many big companies have moved away rather than be subject to the income tax. And employees have given up productive trade and agricultural jobs to chase after the latest Fed-stimulated bubble. The tech sector looked attractive in the 1990s, and the mortgage business was great during the 2000s. But neither business lasted because they weren’t real. They were the chaff of central bank monetary stimulation.
The income tax and central banking have hollowed out American industrial capacity. This is the reason that jobs will not return to America – and the world – for a long time. It wasn’t enough by the way that all this happened over a period of nearly 100 years now, but every time there’s a cyclical bust, the West stimulates – throws good money after bad that only prolongs the agony by confusing the market signals that the economy would otherwise present to rational investors.
Conclusion: Deprived of market signals, investors have a hard time determining what’s an efficient business and what is not. They’ve decided, with considerable reason, that too-big-too-fail banks are probably a good investment. Well, this may be so, but it does nothing for the larger economy. Putting good money after bad into these large fiat-money sinkholes only retards real innovation and sets the economy up for another bout of inflationary bleeding and boom-bust madness. What’s needed is a return to a private market gold-and-silver standard that will provide real feedback to those who want to purchase equity in winning entrepreneurial companies. See, it’s not hard to explain, but for some reason, the story just doesn’t get told, certainly not in the mainstream press.
Filed under: Big Banks, bob chapman, central bank, credit collapse, Credit Crisis, DEBT, Economic Collapse, Economy, end of america, FDIC, Federal Reserve, global elite, global government, global oligarchs, Great Depression, Greenback, housing market, Inflation, internationalist, internationalists, Lindsey Williams, liquidity, manipulation, New World Order, NWO, oligarchy, One World Government, real estate, Stock Market, tarp, US Economy, US Treasury, Wall Street, world government
Bob Chapman: US Dollar Will Collapse at end of 2010
Filed under: Africa, African Union, bernanke, bilderberg, Bob Zoellick, central bank, China, common currency, Communism, Daniel Estulin, DEBT, despotism, Dictatorship, Dollar, dollar collapse, dollar dump, Economic Collapse, economic depression, Empire, Fascism, Federal Reserve, g20, george soros, global bankers, global central bank, global currency, global economy, global elite, global government, global oligarchy, global treasury, Globalism, globalists, Great Depression, Greenback, Henry Kissinger, hyperinflation, imf, Inflation, internationalist, internationalists, logan act, manipulated economy, manipulation, market manipulation, Masaaki Shirakawa, New World Order, NWO, oligarchy, One World Government, poverty, Robert Zoellick, Russia, SDR, SDRs, single currency, slavery, socialism, sovereignty, Stock Market, super currency, Timothy Geithner, trilateral commission, UN, united nations, US Treasury, World Bank, world currency, Yoshihiko Noda | Tags: g20 scotland, scotland g20, st. andrews
G20 Elite Plan African Union Controlled by the IMF
The Corbett Report
November 11, 2009
 Daniel Estulin |
In an exclusive interview with The Corbett Report earlier today, Daniel Estulin revealed the behind-the-scenes details of last week’s G20 Finance Minister’s meeting in St. Andrews, Scotland. Many of these details come from actual G20 documents that his sources were able to sneak out of the meetings in spite of security measures which, Estulin notes, were unprecedented “even by Bilderberg standards.” These documents, which contain valuable information about the conference, are available at BilderbergBook.com and have been mirrored on The Corbett Report homepage. They were smuggled out at great personal risk and need to be disseminated widely.
The key issue discussed at the meeting, according to Estulin, was “the next step in globalization, which is the creation of the African Union.” This is part of an unfolding agenda of the ceding of national sovereignty to unnacountable regional governments which can more easily administer and implement the aims of the financial oligarchs. One of these aims is the elite’s exhaustively documented penchant for population reduction, including tying development aid to population control problems. “The creation of the borderless African continent will be spearheaded by the IMF.”
One of the smuggled documents shows that an attendee had the IMF articles of agreement at the meeting and highlighted the fact that funds were made available “under adequate safeguards” to member nations. This is code speak for imposing draconian measures designed to plunge countries into virtual servitude, with the result that in Africa, countries spend five times more revenue on servicing their IMF debts than they do on health care for their own citizens.
Watch an excerpt of the interview in the video below:
The meeting’s attendees, also identified in the smuggled documents, reads like a who’s who of the financial oligarchical elite, including leading Bilderbergers such as U.S. Treasury Secretary Timothy Geithner, Federal Reserve Chairman Ben Bernanke, World Bank President Bob Zoellick, Turkish Finance Minister Ali Babacan and British Finance Minister Alistair Darling and many others. The Trilateral Commission was also represented at the conference by Japanese members Yoshihiko Noda and Masaaki Shirakawa.
In the interview, Estulin discusses the G20’s debate on dumping the U.S. dollar which he first revealed would be on the meeting’s agenda in a press release last week. He indicates that the matter, although discussed, was rejected . “The American and the British delegations tried to persuade the Russian and the Chinese delegates to devalue the dollar and create a basket of currencies or another world currency to take the place of the dollar,” he said. “Luckily, both the Russians and the Chinese told the Americans and the British to go pound sand. They were not willing to do this.”
The idea that the Western financial oligarchs are aiming to dump the U.S. dollar is in line with recent reports that Goldman Sachs (whose members are suspiciously well connected to the upper echelons of the U.S. Treasury) actually took up positions to short the housing market right before the crash. Although a pre-meditated attempt to bring about a financial collapse would appear not to be in the financial oligarch’s self-interest, it makes perfect sense when one considers this as a problem-reaction-solution operation of creating a problem in order to get the public to support a pre-determined solution. In this case, the endgame has always been to use a financial collapse to usher in a New World Order. Now, exactly as precicted, everyone from Kissinger to Soros is using the economic collapse to call for a new financial order of greater international (read: unelected, undemocratic and unaccountable) control over world financial markets. Indeed, just as the G20 was wrapping up, talking heads like Damon Vickers were starting to insert talking points about a new global currency and a “New World Order” onto CNBC. Although it is good news that the dumping of the dollar failed to gain traction at this meeting, it by no means insures that this disastrous move will not continue to be pursued by the influential globalist financiers.
On a positive note, Canadian Finance Minister Jim Flaherty made a show of standing up for the people of the planet by noting that “the recent public policy of privatizing profits and socializing losses is unacceptable to taxpayers,” to which someone responded “Do you think they have noticed?” The response provoked laughter from the assembled oligarchs. Mr. Estulin has a message for the G20 oligarchs: “Gentlemen of the G20, in case you’re wondering: Yes, we the great unwashed have definitely noticed.”
Listen to the full interview by clicking here
U.S. Gives Up Economic Independence to the IMF
World Bank and IMF Join Global Attack on U.S. Dollar
U.S. Dollar Will No Longer Be World Reserve Currency
Filed under: Alex Jones, army, Big Banks, central bank, Coup, Credit Crisis, DEBT, Economic Collapse, Economy, end of america, gas prices, Genocide, global elite, gold, Great Depression, Greenback, Inflation, itnernationalist, Lindsey Williams, New World Order, NWO, Oil, Petrol, Preemptive Strike, preemptive war, silver, Stock Market, Tehran, US Economy, Wall Street, WW3, ww4 | Tags: oil storm
Lindsey Williams: U.S. Economy Will Collapse in 2 Years
NoWorldSystem.com
October 27, 2009
Pastor Lindsey Williams, an insider of the elite who predicted accurately that oil prices would fall to $50 a barrel appeared on the Alex Jones show recently. He said he was told by the financial elite that the U.S. dollar will completely collapse in 2012 and that after 2 years “you will be so poor that you will not be able to rebel”. “In their timeline, inflation will escalate over a period of 2 years,” “gold and silver are all you can rely on! The elite don’t use paper, they laugh at it, it means nothing to them, gold and silver is their currency, and gold and silver will continue to escalate rapidly”.
According to Lindsey he is also worried that within 2 years you won’t even recognize America anymore; “within 2 years you will not recognize the united states of America,” that ” in 2 years everyone will be working for the federal government”. He said it will get so bad that banks all around the world will collapses leaving only 9 major banks in place.; “did you know that they want to narrow it down to 9 major banks?”.
He said after the collapse, the United States will start another major war that will eclipse the Iraq war; “I’m still shaking, I’m am appalled, he said ‘war is planned after 2 years’, folks, they plan these things!” “they have war planned in 2012 or somewhere along in that area and he even told me where it was going to start, how it was going to happen, what would happen”. “It will begin in the middle east, it will spread to the entire world” “Folks, if you have not risen up and rebelled against the tyrants within 2 years… our republic is gone”.
Filed under: 2008 Election, Amero, angela merkel, asia, bailout, Bank of America, Big Banks, brad sherman, Britain, C-Span, Canada, Carroll Quigley, central bank, CFR, China, civil liberties, civil rights, CNBC, Congress, corporations, corporatism, Credit Crisis, DEBT, Dictatorship, Dollar, ECB, Economic Collapse, economic depression, Economy, Empire, Europe, european central bank, european union, Fascism, Federal Reserve, France, g8, George Bush, Germany, glenn beck, global economy, global elite, global government, Globalism, gordon brown, Great Depression, Greenback, Habeas Corpus, henry paulson, Hitler, House, hyperinflation, imf, Inflation, interest rate cuts, internationalist, internationalists, job market, John McCain, liquidation, london, Martial Law, Media, middle class, morgan stanley, mortgage, national socialism, Nazi, New World Order, paris, Paulson, peter schiff, Police State, Posse Comitatus, rate cut, Sarkozy, Senate, single currency, socialism, sovereignty, Stock Market, tax, Taxpayers, unemployment, United Kingdom, US Economy, us sovereignty, US Treasury, Wall Street, World Bank, WW2, Zimbabwe | Tags: Ewald Nowotny, fiat currency, global currency, global currency system, global financial order, globalists, globalization, international order, Jean-Claude Trichet, Jeffrey Garten, John Mack, José Manuel Barroso, new global monetary authority, one world currency, Timothy Geithner, weimar republic, world economic crisis, world financial system, world monetary system, world money system, world order
Globalists Exploit Financial Meltdown In Move Towards One World Currency
Paul Joseph Watson & Kurt Nimmo
Prison Planet
October 20, 2008
The swift and ruthless exploitation of the economic meltdown on behalf of globalists and central banks revolves around their drive to move towards a one world currency system and an unprecedented centralization of global financial power.
Statements on behalf of world leaders and central banks over the past two weeks have made it clear that the agenda to further collate economic power and control of currencies into the hands of the few is rapidly accelerating – all in the name of solving a financial crisis that was caused as a result of the same fiat money system that the elite themselves created and maintained.
The original Bretton Woods agreement in 1944, spurred by the depression of the 1930s and the second world war, created the International Monetary Fund, the World Bank and laid down common standards for markets around the world. Now with the current financial crisis EU leaders see another opportunity to impose global regulations on sovereign economies.
As the crisis reached its peak at the end of September, British Prime Minister Gordon Brown led the call for “a new global financial order” in which the world financial system would be built around a centrally coordinated policy of international regulation.
Morgan Stanley Chief Executive John Mack has also called for a new global body to oversee the financial crisis, warning that it is like nothing he’s ever seen before.
The sentiment echoes those of elite figures such as CFR member Jeffrey Garten and Timothy Geithner, president of the Federal Reserve Bank of New York, who have both recently called for a “new global monetary authority”, a de-facto global financial dictatorship, operating across borders and forcing nations and corporations to register and adhere to strict monitoring and regulations.
European Central Bank council member Ewald Nowotny told Bloomberg yesterday that the centrality of the U.S. dollar was in question and that a “tri-polar” global currency system is in development between the U.S., Asia and Europe to replace it.
This followed a call by French President to question whether a “worldwide currency system” should be introduced in response to the financial crisis.
“Another subject in tomorrow’s world is that of the great currencies. How many should there be? What should the agreement between these great currencies be? Should we organize a discussion? Should a country like India one day have a global currency?” Sarkozy told a news conference, reports Reuters.
Any discussion would be purely academic, as the ruling elite long ago decided to force a global currency down our throats. In fact, a global currency is at the very core of their plan to dominate the world. Control money and you control the destiny of states, you eliminate national sovereignty. “The control of money and credit strikes at the very heart of national sovereignty,” A.W. Clausen, president of Bank of America once observed.
As Georgetown professor and CFR historian Carroll Quigley noted, the goal of the banking families and their minions consists of “nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole… controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent private meetings and conferences.”
It remains to be seen if the EU will realize its “solution” to the world economic crisis. In 2007, Robert Mundell, “the father of the euro,” noted that “international monetary reform usually becomes possible only in response to a felt need and the threat of a global crisis.”
Certainly, the elite cooked up an appropriate global crisis, now they will engage in a full court press to establish a global currency and eventually a global government.
EU Leaders Call for Global Currency
Kurt Nimmo
Infowars
October 18, 2008
If we are to believe the Washington Post, French president and current EU leader Nicolas Sarkozy has pledged to save us from nameless “freewheeling bankers and traders” who get the blame for the current economic crisis.
Sarkozy, Gordon Brown, and EU honcho José Manuel Barroso are talking up an international summit to discuss an “urgent overhaul of the world’s financial architecture,” that is to say a new Bretton Woods to establish a brand spanking new international economic order. Sarkozy has managed to grab George Bush’s ear and he will travel to Washington on Saturday to lay the groundwork for a conference.
In 1944, 44 allied nations met at a resort in Bretton Woods, New Hampshire, to fiddle with monetary standards, fix exchange rates, and create the IMF and World Bank. “Launching a remake of this old model — particularly in such a short time, with so many new participants — would represent a daunting challenge at any time, but particularly during the twilight of the Bush presidency and the crisis that is still jolting banks and stock markets around the world,” reports the Post.
Sarkozy and the EU leaders would have us believe this new Bretton Woods will call for “globally coordinated regulation of the financial industry, elimination of tax havens and a compensation system in which traders are not rewarded for dangerous risk-taking,” among other things.
It was the demise of Bretton Woods in 1971, insists European Central Bank president Jean- Claude Trichet, that led to the abandonment of regulation and subsequent market turmoil. “The explosion of the first Bretton Woods in a way could be interpreted as a rejection of discipline,” said Trichet, reports Bloomberg.
Gordon Brown, the former Chancellor of the Exchequer, wants to fix that turmoil with a new spate of regulations aimed at international finance. On October 13 in London, Brown said “we must devise new rules for a world of global capital flows” just as the founders of Bretton Woods “devised rules for a world of limited capital flows.”
“We now have global financial markets but what we do not have is anything other than national and regional regulation and supervision,” Brown lamented from Brussels.
All of this is nonsense. It should be obvious by now the bankers engineered the current crisis in order to consolidate their hold on the global economy and all the talk about rogue traders, tax havens, and over-compensated executives is merely that — talk, or more specifically a sales pitch, a slick parlor trick devised to fool the commoners.
Glossed over in all the corporate media coverage is the global elite demand that a global currency be established. “Europe wants to present a blueprint for a new worldwide currency system,” reports the AFP in the video here.
“Another subject in tomorrow’s world is that of the great currencies,” Reuters reported Sarkozy musing on October 16. “How many should there be? What should the agreement between these great currencies be? Should we organize a discussion?”
Glenn Beck On One World Currency
“There is a global meltdown coming, it is a global depression, a One World Currency and One World Financial System is the ENDGAME! China said last week said they want One Global Currency, France said yesterday or the day before that they want One World Order a New World Order at the end of this event!” – Glenn Beck
CNBC: The New World Order is in effect on wall street
http://www.prisonplanet.com/calls-for-new-global-financial-order-increase.html
Tri-Polor Global Currency A Possibility
http://www.bloomberg.com/apps..&sid=apjqJKKQvfDc&refer=home
http://www.nationalpost.com/news/story.html?id=885494
G-8 Announces Global Summit On Financial Crisis
http://news.yahoo.com/s/a..t=Ah6wNwIX5KlE5B1m5eFoDXlbbBAF
Bush & Allies Pledge Joint Action On Economy
http://www.youtube.com/watch?v=InFBnX87lzU
Brown: Use This Crisis To Create New Financial World Order
http://www.prisonplanet.com/..new-financial-world-order.html
Filed under: Alan Greenspan, bailout, Bank of England, bernanke, Big Banks, BOE, Britain, central bank, CFR, China, CNBC, Communism, Credit Crisis, DEBT, Dow, Economic Collapse, economic depression, Economy, energy, Europe, european union, fannie mae, Fascism, Federal Reserve, freddie mac, George Bush, george soros, global economy, gold, Goldman Sachs, Great Depression, Greenback, henry paulson, housing market, hyperinflation, Inflation, interest rate cut, interest rate cuts, jim rogers, martgage companies, Media, Merrill Lynch, mortgage, mortgage companies, mortgage lenders, Oil, Paulson, rate cut, real estate, Russia, Stock Market, subprime, subprime lending, Taxpayers, United Kingdom, US Economy, US Treasury, Wamu, washington mutual, WW2 | Tags: run on banks
Fannie and Freddie Seized…Cost to Taxpayer: Over $1 Trillion
Contrarain Profits
September 8, 2008
Uncle Sam has finally taken over Fannie Mae (NYSE:FNM) and Freddie Mac (NYSE:FRE). Yesterday, the Bush administration placed the mortgage giants under a conservatorship, putting billions of dollars of taxpeyers’ money at risk in the process.
The Treasury says it will stump up $200 billion to back the companies in exchange for a 79.9% stake in each. The government is now the biggest player in the US mortgage market.
Don Rich warns that the government’s bailout spells trouble for anyone holding US dollars. A major issue is that the Congressional Budget Office’s estimation of the costs of the bailout is far too conservative…
This from last Thursday’s Daily Reckoning:
A recent study from the Congressional Budget Office (CBO) has zero credibility. It pegged likely taxpayer losses in the Fannie Mae and Freddie Mac bailouts at $25 billion. For those with a sense of history, it is worth remembering that the S&L bailout had a $160 billion price tag. The numbers diverge so far from reality as to be laugh-out-loud funny. Funny, that is, except that the CBO estimate demonstrates a willful disconnect with the actual consequences of federal government actions.
As demonstrated below, the real cost of the bailouts will easily exceed $1.3 trillion. In fact, the real cost is likely to range between $1.3 trillion to $1.6 trillion, and is not unlikely to reach $2.5 trillion.
Between 2001 and 2007, Fannie and Freddie purchased or guaranteed $700 billion of Alt-A and subprime loans. Given the default rates on these loans – and the fact that the price of the housing that is the ultimate security of the loans will, for reasons demonstrated below, fall by at least thirty percent – this alone implies a loss for Fannie and Freddie on the order of $210 billion.
Fannie and Freddie acknowledge already-impaired loans on the balance sheet of $19 billion, which they have used creative accounting to avoid deleting from the shareholder equity account. This means that Fannie and Freddie have a maximum of $64 billion in capital remaining.
Given the inevitable losses on the Alt-A/subprime portion of their portfolio, it must be the case that if the federal government, as it is doing, guarantees Fannie and Freddie’s solvency, the difference between the loss and the capital to be made up by the government (i.e., the taxpayers) must equal, not $25 billion but $147 billion.
That alone would mean that the CBO is blowing smoke with their estimated cost figures, and if you think back to the S&L cost of $160 billion, this is not a surprising result. The real picture is so much worse that it is pretty obvious the CBO is flat out inventing figures just to get the politicians through November.
It doesn’t take a genius to work out how the government is going to get its hands on such money: the Federal printing press…
I don’t know what those people in Washington are taking to sleep at night after all their electorally driven accounting and finance exercises, but I can tell you what they will be doing to keep the government open for business: printing a whole lot of money.
Chairman Bernanke has the discount window open to any collateralization not worth the paper it is written on, so in effect he has the helicopters ready to drop hundred-dollar bills over Wall Street – as he once famously described the ultimate policy instrument of a fiat-money system.
Of course, if he does that, we will have to change his nickname from Helicopter Ben to Hyperinflation Ben, which answers the question of who picks up the tab of bailing out Fannie and Freddie: anyone owning dollars.
Produce a lot of something, and it becomes worth less. And given the losses at Fannie and Freddie, the taxpayer guarantee, and the ongoing initiation of Boomer retirement, only the inflation tax will work to pay for keeping Fannie and Freddie afloat.
Like it or not, we are about to enter interesting times, and it is too bad our supposed professional civil servants at the Congressional Budget Office have failed to tell the emperor the truth: that he is buck-naked bankrupt and getting ready to take a lot of people with him.
P.S Don Rich is an instructor of economics, finance, and political science at Montgomery County Community College in Blue Bell, PA. He also teaches economics, government, and history at Delaware County Community College in Exton, PA. You can leave comments for Don on the mises.org blog.
Greenspan: U.S Economy in ’once-in-a-century’ financial crisis
September 15, 2008
The nationalization of Fannie Mae and Freddie Mac shows that the U.S. is “more communist than China right now” but its brand of socialism is meant only for the rich, investor Jim Rogers, CEO of Rogers Holdings, told CNBC Europe on Monday.
“America is more communist than China is right now. You can see that this is welfare of the rich, it is socialism for the rich… it’s just bailing out financial institutions,” Rogers said.
Stock markets jumped after the U.S. government’s decision to launch what could be its biggest federal bailout ever, in a bid to support the housing market and ward off more global financial market turbulence.
But Rogers said in the long term the move spelled trouble.
“This is madness, this is insanity, they have more than doubled the American national debt in one weekend for a bunch of crooks and incompetents. I’m not quite sure why I or anybody else should be paying for this,” Rogers told “Squawk Box Europe.”
Soros Compares Mishandling Of Current Crisis To Great Depression
Paul Joseph Watson
Prison Planet
September 17, 2008
Billionaire investor George Soros has slammed US Treasury Secretary Hank Paulson for behaving in the same manner as bankers in the 1930’s and mishandling a financial crisis that threatens a repeat of the Great Depression.
Soros told BBC Newsnight that the world was merely at the beginning of a financial storm and warned, “We mustn’t allow the financial system to collapse as it did in the 1930s.”
Referring to Hank Paulson, the US Treasury Secretary, Soros stated, “The way Paulson is handling the situation is reminiscent of the way the bankers handled it in the 1930s.”
He added: “The financial system has gone overboard and the financial engineering has grown to big, it takes up too big a share in the world’s resources.”
“Now it is shrinking. When it becomes regulated it will be less profitable than the last 25 years.”
Soros, a former member of the Board of Directors of the Council on Foreign Relations, is ranked by Forbes as the 99th richest person in the world with a net worth of around $9 billion.
Ironically, Soros made his name by reaping the dividends of another financial meltdown when he “broke the Bank of England” by short-selling the pound sterling before the currency dropped out of the European Exchange Rate Mechanism in 1992, landing Soros a profit of around $1.1 billion.
In 2006, the highest court in France upheld a conviction that Soros had practiced insider trading when he bought shares in French bank Société Générale after discovering that the bank was on the verge of a takeover.
Soros has repeatedly predicted fiscal armageddon, writing three books about a “superbubble” that is on the verge of collapse.
In response to those accusing him of crying wolf in an effort to panic financial markets and benefit from the fallout, Soros stated, “I have a record of crying wolf…. I did it first in The Alchemy of Finance (in 1987), then in The Crisis of Global Capitalism (in 1998) and now in this book (2008’s The New Paradigm for Financial Markets). So it’s three books predicting disaster. (After) the boy cried wolf three times . . . the wolf really came.”
Respondents to a Daily Mail article about Soros’ comments accused the financier of engaging in wanton hypocrisy.
“I don’t know why on Earth they interview Soros since he has been proven again and again to deliberately spread financial rumour for his own exploitation and gain,” wrote one, “Soros became a multi multi billionaire precisely through manipulating markets like this – if this man says that we are heading for a 1930’s style crash you can guarantee he already has plans to profit from it.”
http://www.reuters.com/article/ousiv/idUSPEK4365020080917?sp=true
US authorities have now spent $900 billion to prop up the financial system
http://www.swissinfo.ch/eng/..d=9736054&cKey=1221686585000&ty=ti
Central banks pump £100bn into money markets
http://www.telegraph.co.uk/money/m..2008/09/17/cncentral117.xml
Treasury announces debt auctions for Fed
http://ap.google.com/article/ALeqM5jnS9Vm..m4iAD938I1A80
Fed Pumps $70B Into Financial System
http://news.yahoo.com/s/ap/20080916/ap_on_bi_ge/fed_credit_..E44U6Xfx.Fe7GUOQ.D1v24cA
Run On The Bank? Americans Could Lose Their Deposits
http://www.prisonplanet.com/run-on-the-bank-americans-could-lose-their-deposits.html
Merrill Lynch seals future with Bank of America deal
http://business.timesonline.co.uk/tol/bu.._finance/article4755438.ece
Rogers: Dollar To Lose World Reserve Status
http://www.prisonplanet.com/rogers-dollar-to-lose-world-reserve-status.html
Paulson: Congress Has No Authority Here
http://bigpicture.typepad.com/comments/2008/09/paulson-congres.html
Goldman profit plunges 70 pct amid market slump
http://news.yahoo.com/s/nm/20080916/bs_nm/goldmansachs_dc
August home starts seen at lowest level in 17 years
http://www.reuters.com/article/newsOne/idUSN1638353220080917
Russia halts trading after 17.5% share price fall
http://money.cnn.com/news/newsfeeds/articles..ORTUNE5.htm
Dow closed down 450
http://news.yahoo.com/s/ap/20..er=1;_ylt=Al5VvbZImvYKFj5hEtFaLktv24cA
Is Britain Heading For Worst Recession Since 1929?
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/09/15/bcnrecession115.xml
Washington Mutual Tumbles 30%
http://news.yaho..CZ6k2k2Rd38VKPgv6b.HQA
Now fear stalks British banks
Inflation rises to 4.7% and FTSE plunges ANOTHER 90 points as global markets tumble in wake of Meltdown Monday
Bush Claims Economy Can Weather Storm
Bailouts Will Push U.S. Into Depression
Filed under: Alabama, bankruptcy, Big Banks, brazil, California, central bank, Congress, Credit Crisis, DEBT, Dollar, Dow, Economic Collapse, economic depression, Economy, FDIC, georgia, global economy, Great Depression, Greenback, hyperinflation, Illegal Immigration, Immigration, indymac, Inflation, Merrill Lynch, Stock Market, US Economy, Wachovia, World Bank | Tags: Federal Deposit Insurance Corp., Integrity Bank of Alpharetta, run on banks
10th Bank Collapse This Year
Bloomberg
August 29, 2008
Integrity Bank of Alpharetta, Georgia, was closed by U.S. regulators today, the 10th bank to collapse this year amid a surge in soured real-estate loans stemming from the worst housing slump since the Great Depression.
Integrity Bank, with $1.1 billion in assets and $974 million in deposits, was shuttered by the Georgia Department of Banking and Finance and the Federal Deposit Insurance Corp. Regions Financial Corp., Alabama’s biggest bank, will assume all deposits from Integrity, which was run by Integrity Bancshares Inc. The failed bank’s five offices will open on Sept. 2 as branches of Regions, the FDIC said.
“Depositors will continue to be insured with Regions Bank so there is no need for customers to change their banking relationship to retain their deposit insurance,’’ the FDIC said.
Banks are being closed at the fastest pace in 14 years as financial companies report more than $505 billion in writedowns and credit losses since 2007. California lender IndyMac Bancorp Inc., which had $32 billion in assets, was closed July 11 in the third-largest bank seizure, contributing to a 14 percent drop in the U.S. deposit insurance fund that had $45.2 billion at the end of the in the second quarter.
FDIC may borrow money from Treasury to see it through an expected wave of bank failures: report
August 27, 2008
Federal Deposit Insurance Corp (FDIC) might have to borrow money from the Treasury Department to see it through an expected wave of bank failures, the Wall Street Journal reported.
The borrowing could be needed to cover short-term cash-flow pressures caused by reimbursing depositors immediately after the failure of a bank, the paper said.
The borrowed money would be repaid once the assets of that failed bank are sold.
“I would not rule out the possibility that at some point we may need to tap into (short-term) lines of credit with the Treasury for working capital, not to cover our losses,” Chairman Sheila Bair said in an interview with the paper.
Bair said such a scenario was unlikely in the “near term.” With a rise in the number of troubled banks, the FDIC’s Deposit Insurance Fund used to repay insured deposits at failed banks has been drained.
In a bid to replenish the $45.2 billion fund, Bair had said on Tuesday that the FDIC will consider a plan in October to raise the premium rates banks pay into the fund, a move that will further squeeze the industry.
The agency also plans to charge banks that engage in risky lending practices significantly higher premiums than other U.S. banks, Bair said.
The last time the FDIC had borrowed funds from the Treasury was at nearly the tail end of the savings-and-loan crisis in the early 1990s after thousands of banks were shuttered.
The fact that the agency is considering the option again, after the collapse of just nine banks this year, illustrates the concern among Washington regulators about the weakness of the U.S. banking system in the wake of the credit crisis, the Journal said.
Bankruptcy Filings Surge 29%
http://www.economicpolicyjournal.com/2008/08/bankruptcy-filings-surge-29.html
FDIC: Bank Profits Fell By 86% In 2nd Quarter
http://seattletimes.nwsource.com/html/busi..webbanks26.html
World Bank: More People In Poverty
http://www.reuters.com/article/worl..=RSS&feedName=worldNews
Dow Falls Another 240 Points
http://news.yahoo.com/s/ap/2..=1;_ylt=ArOpbuqd64sBzkF3Xyx3zOxv24cA
Merrill, Wachovia in Danger of Failing: Strategist
http://www.cnbc.com/id/26262..Cquote%7Ctext%7C&par=yahoo
Large U.S. bank collapse seen ahead
http://www.reuters.com/article/newsOne/idUSSP21695020080819
Deepening economic crisis ‘may trigger family breakdown’
http://www.dailymail.c..onomic-crisis-trigger-family-breakdown.html
Auto industry seeks $50B in loans from Congress
http://money.cnn.com/2008/08/23/news/economy/auto_bailout.ap/index.htm
Living the American dream in Brazil
http://english.aljazeera.net/focus/2008/08/200881884358873790.html
Illegal Immigrants Returning to Mexico in Record Numbers
http://www.foxnews.com/story/0,2933,409221,00.html
FDIC: Highest Level Of Troubled Banks Since 2003
http://news.yahoo.com/s/ap/20..s;_ylt=AiX6b2alma.c4GBC5tc9LJqs0NUE
FDIC Increasing Staff for Expected Increase in Bank Failures
Japan’s Mitsubishi takes over US bank
Filed under: Big Banks, central bank, Credit Crisis, DEBT, Dollar, Economic Collapse, economic depression, Economy, FDIC, global economy, Great Depression, Greenback, hyperinflation, Inflation, Merrill Lynch, Stock Market, Uncategorized, US Economy, Wachovia, writedown | Tags: columbian bank, Columbian Bank and Trust Co., topeka
9th U.S. Bank Failure This Year
Bloomberg
August 23, 2008
Columbian Bank and Trust Co. of Topeka, Kansas, was closed by U.S. regulators, the nation’s ninth bank to collapse this year amid bad real-estate loans and writedowns stemming from a drop in home prices.
The bank, with $752 million in assets and $622 million in total deposits, was shuttered by the Kansas state bank commissioner’s office and the Federal Deposit Insurance Corp., the FDIC said yesterday in a statement.
Citizens Bank and Trust will assume the failed bank’s insured deposits. Columbian Bank’s nine branches will open Aug. 25 as Citizens Bank and Trust offices, the FDIC said. Customers can access their accounts over the weekend by writing checks or using ATM or debit cards.
“There is no need for customers to change their banking relationship to retain their deposit insurance coverage,’’ the FDIC said.
The pace of bank closings is accelerating as financial firms have reported more than $500 billion in writedowns and credit losses since 2007. The FDIC’s “problem’’ bank list grew by 18 percent in the first quarter from the fourth, to 90 banks with combined assets of $26.3 billion.
Prior to yesterday, the FDIC had closed 36 banks since October 2000, according to a list at fdic.gov. The U.S. shut 12 banks in 2002, the highest in the period, and 2005 and 2006 had no closures.
U.S. bank regulators closed Florida’s First Priority Bank on Aug. 1; Reno-based First National Bank of Nevada, Newport Beach, California-based First Heritage Bank, and Pasadena-based IndyMac Bancorp Inc. in July; Staples, Minnesota-based First Integrity Bank and ANB Financial in Bentonville, Arkansas, in May; Hume Bank in Hume, Missouri, in March; and Douglass National Bank in Kansas City, Missouri, in January.
http://www.cnbc.com/id/26262925..%7Cquote%7Ctext%7C&par=yahoo
Large U.S. bank collapse seen ahead
http://www.reuters.com/article/newsOne/idUSSP21695020080819
Filed under: Alan Greenspan, bailout, central bank, CNBC, Congress, Credit Crisis, DEBT, Dollar, Economic Collapse, economic depression, Economy, fannie mae, Federal Reserve, food crisis, food market, food prices, freddie mac, gas prices, global economy, gold, Great Depression, Greenback, henry paulson, house senate, housing market, hyperinflation, Inflation, Jim Cramer, liquidation, Mad Money, Media, medicare, morgan stanley, mortgage, mortgage companies, mortgage lenders, nationalization, NYSE, Oil, Paulson, Petrol, real estate, SEC, Stock Market, subprime, subprime lending, US Economy, US Treasury, USDA, Wall Street, Warren Buffett | Tags: securities and exchange commission
Buffett Says Fannie Mae, Freddie Mac ’Game Is Over’
Bloomberg
August 22, 2008
Fannie Mae and Freddie Mac, the two largest mortgage finance companies, “don’t have any net worth,’’ billionaire investor Warren Buffett said.
“The game is over’’ as independent companies said Buffett, the 77-year-old chairman of Berkshire Hathaway Inc., in an interview on CNBC today. “They were able to borrow without any of the normal restraints. They had a blank check from the federal government.’’
Freddie Mac and Fannie Mae touched 20-year lows yesterday on the New York Stock Exchange on speculation a government bailout will leave the stocks worthless. U.S. Treasury Secretary Henry Paulson won approval from Congress last month to pump emergency capital into the companies, which account for more than half of the $12 trillion U.S. mortgage market.
Fannie and Freddie mispriced their products and “kept existing because they had the federal government behind them,’’ Buffett said. Omaha, Nebraska-based Berkshire had been among the largest holders of Freddie until about 2001, when it became apparent the company wasn’t being run well, he said.
Jim Cramer Talks About Market Manipulation
http://www.reuters.com/article..220080820?sp=true
79 Million Americans Struggle To Pay Med Bills
http://news.yahoo.com/s/hsn/2..AjuAtPXqgtjMugI32IL4GWO9j7AB
Gold surges to a 1-week high of $839
http://africa.reuters.com/business/news/usnBAN222833.html
US Crony Capitalism
http://mparent7777-1.livejournal.com/1375774.html
Recession within year, say experts
http://uk.news.yahoo.com/pres..ay-experts-6323e80.html
Oil shoots to $122 on missile shield row
http://www.thestandard.com.hk/..70614&sid=20295831&con_type=3
Morgan Stanley Says Financial Crisis Will Last: Report
http://www.cnbc.com/id/26252398
Wholesale prices: Highest annual rate in 27 years
http://money.cnn.com/2008/08/19/ne..postversion=2008081910
Wall Street Pulls Back As Financials Fall
Stocks Fall On Inflation Data
Financial Fears, Soaring Inflation Hit Wall Street
Filed under: 2008 Election, central bank, Cindy McCain, Congress, Credit Crisis, DEBT, Dollar, Economic Collapse, economic depression, Economy, foreclosure, global economy, global elite, Great Depression, Greenback, House, housing market, hyperinflation, Inflation, John McCain, Keith Olbermann, middle class, mortgage, mortgage companies, mortgage lenders, neocons, phil gramm, real estate, Senate, Stock Market, subprime, subprime lending, Taxpayers, US Economy
Who’s the REAL elitist? The McCains have 10 homes!
Filed under: bear sterns, Big Banks, central bank, copper, Credit Crisis, DEBT, Dollar, Economic Collapse, economic depression, Economy, global economy, gold, gold shortage, Great Depression, Greenback, hyperinflation, Inflation, silver, Stock Market, US Economy, us mint | Tags: run on banks
Gold Drops Below $790
Bloomberg
August 14, 2008
Buyers of wedding bands and makers of fillings, take heart: Metals prices fell sharply, following in oil’s footsteps, and as the dollar rallied. Gold lost 8.4% of its value this week, with August gold ending at $786 a troy ounce, below the psychologically significant $800 level. Today alone, the shiny yellow metal lost 2.7%. Gold is down 22% from its record close of $1003.20, reached on March 18; it hit that mark around the time Bear Stearns went belly up, which sent freaked-out investors into hard assets. Silver futures took the gold medal this week, though, in the weekly percentage decline event – August silver fell 16% this week to end at $12.8010 a troy ounce. Almost 10% of that drop came today. A silver lining: Copper fell only 1.7% this week.
U.S. Mint Suspends Gold Eagles
Numis Master
August 14, 2008
The Gold Anti-Trust Action Committee is reporting at their website that The U.S. Mint has suspended sales of American Eagle one ounce gold coins and is refusing orders from dealers.
GATA reports that two coin and bullion dealers have confirmed the suspension by the Mint. This news was initially reported by American Precious Metals Exchange.
Chris Powell, Secretary/Treasurer of GATA, says in a website posting, “The suspension is overwhelming evidence that the futures contract price of gold on the commodities exchanges is substantially below the physical market price and that, indeed, the commodities exchanges are being used as GATA long has maintained – as part of a massive scheme of manipulation of the precious metals, currency, and bond markets.”
As of today, fractional gold (1/10 oz, ¼ oz and ½ oz Gold American Eagles) remain unaffected by the shortage. The mint web site is currently not reporting any suspensions of sales and one ounce uncirculated coins are still for sale at the web site.
Filed under: Big Banks, central bank, Credit Crisis, DEBT, Dollar, Economic Collapse, economic depression, Economy, Federal Reserve, global economy, Great Depression, Greenback, hyperinflation, Inflation, interest rate cut, rate cut, Stock Market, US Economy
Fed Auctions Another $25 Billion To Banks
AP
August 12, 2008
The Federal Reserve has auctioned another $25 billion in loans to the nation’s banks and given them more time to pay the money back in an effort to combat a serious credit squeeze.
The Fed announced Tuesday that the money would be loaned at a rate of 2.754 percent. In the latest auction, the Fed offered the loans for an extended period of 84 days, rather than the 28-day period for the previous loans.
Filed under: bailout, Big Banks, central bank, Credit Crisis, DEBT, deficit, Dollar, Economic Collapse, economic depression, Economy, Euro, freddie mac, global economy, gold, Great Depression, Greenback, housing market, hyperinflation, Inflation, infrastructure, liquidation, Mexico, morgan stanley, mortgage companies, mortgage lenders, ohio, Oil, privatization, real estate, Stock Market, tax, Toll Roads, US Economy, Wall Street | Tags: highways, infrastructure transactions, investing, roads, run on banks
U.S. Roads, Airports Being Sold To Private Investors
Reuters
August 4, 2008
Cash-strapped U.S. state and city governments are likely to sell or lease more highways, bridges, airports and other assets to investors desperate for stable returns after being frazzled by the credit crisis.
The trend is set to pick up speed given worsening budget deficits in state capitals and city halls nationwide.
It will also be welcomed by Wall Street bankers hoping to help create and market so-called “infrastructure” transactions at a time many debt markets remain paralyzed, and after major U.S. stock indexes fell into bear market territory.
“When you are nervous about everything else, you put your money in a toll road,” said John Schmidt, a partner at the law firm Mayer Brown LLP in Chicago. “That’s the logic of infrastructure. Returns are stable and predictable. You won’t get fabulously rich, but you’ll get stable cash flow.”
The latest enthusiasm for at least partially privatizing infrastructure assets came on July 30 from New York Gov. David Paterson, who is trying to plug a budget deficit caused in part by lower tax revenue as Wall Street retrenches.
“We’re just looking at ways to be more efficient and that’s why I used the term public-private partnerships — trying to find some creative solutions,” Paterson said. “The reason I’m avoiding taxes is because I think taxes are addictive.”
Bankers and others in the industry say there is pent-up demand from dedicated infrastructure funds and public pension funds to invest in hard assets — perhaps $75 billion to $150 billion of equity capital — but not enough supply.
http://www.bloomberg.com/apps/news?pi…fQ0PVYvOgzI&refer=home
Dropping USD Makes Mexican Vacations Go Up
http://www.usatoday.com/news/world/2008-08-06-mexico_N.htm?csp=1
Dollar soars to 5-mth high vs euro as turnaround eyed
http://www.guardian.co.uk/business/feedarticle/7709840
list of ’fastest-dying’ cities includes four in Ohio
http://www.dispatch.com/live/content/busin../05/forbes.html?sid=101
Mexico’s Poor Forgo Goods as Income From U.S. Drops
http://www.bloomberg.com/apps/news?pid=20..A2CsXnpEac&refer=home
Freddie Mac’s negative net worth raises questions
http://www.reuters.com/article/news..geNumber=2&virtualBrandChannel=0
Gold sinks to $860
http://uk.reuters.com/article/goldMktRpt/idUKL144962020080808
Oil Falls To $118
http://biz.yahoo.com/ap/080805/oil_prices.html?.v=13&printer=1
Report: Freddie Mac Chief Disregarded Warnings
http://news.yahoo.com..g1D3M8_8.Si1pc1w4tgtv24cA
Roubini: Hundreds Of Banks Will Fail
http://www.reuters.com/article/bondsNews/idUSN0344130720080803?sp=true
No Change Expected In Fed Interest Rates
http://news.yahoo.com/s/ap/20080..1D3M8_8.Si1pc1w4tgtv24cA
Filed under: Big Banks, California, central bank, Credit Crisis, DEBT, Dollar, Economic Collapse, economic depression, Economy, FDIC, florida, global economy, Great Depression, Greenback, hyperinflation, indymac, Inflation, kansas, liquidation, michigan, nationalization, nebraska, Stock Market, US Economy | Tags: clarkston, clarkston state bank, first priority bank, hastings, hastings state bank, haven, irvine, MetroPacific Bank, run on banks, suntrust bank
8th U.S. Bank Failure This Year
Reuters
August 1, 2008
WASHINGTON (Reuters) – SunTrust Bank (STI – News) has acquired the insured deposits of Florida-based First Priority Bank, the eighth U.S. bank to fail this year as financial institutions grapple with a weak economy and a credit crisis precipitated by falling home prices.
The Federal Deposit Insurance Corp said on Friday that Florida regulators closed the bank, which had $259 million in assets and $227 million in deposits. The FDIC was named receiver.
The cost of the failure to the federal insurance fund is estimated to be $72 million, the FDIC said.
FDIC warns four US banks over liquidity
Financial Times
August 1, 2008
The Federal Deposit Insurance Corporation revealed on Friday that it had issued warnings to four small US banks that lacked sufficient reserves to cover potential loan losses.
The cease-and-desist orders issued in June said the four banks needed to raise more capital, expand their loss allowances and better oversee and diversify their loan portfolios. A fifth bank was cited for violating consumer protection laws.
Losses on mortages and other loans have helped bring down eight US banks this year, including one small Florida institution on Friday. Last month, Indymac, a California lender with $32bn in assets, became one of the largest banks to go under in US history. It filed for Chapter 7 bankruptcy protection on Friday.
The banks receiving cease-and-desist orders in June were MetroPacific Bank in Irvine, California; Bank Haven in Haven, Kansas; Clarkston State Bank in Clarkston, Michigan; and Hastings State Bank in Hastings, Nebraska.
Filed under: Afghanistan, Ahmadinejad, airstrikes, ashkenazi, ban ki-moon, Barack Obama, Britain, central bank, Condoleezza Rice, Coup, Credit Crisis, DEBT, Dick Cheney, diplomacy, Dollar, Economic Collapse, economic depression, Economy, Ehud Barak, Europe, european union, False Flag, George Bush, global economy, Great Depression, Greenback, hamas, Inflation, Iran, Iraq, Israel, John Bolton, Mike Mullen, Military, military strike, Mossad, nation building, neocons, Nuke, occupation, Preemptive Strike, preemptive war, Robert Gates, Ron Paul, Russia, Shock and Awe, stephen hadley, Stock Market, Syria, Tehran, UN, United Kingdom, US Economy, War On Terror, WW3, ww4
U.S. ’diplomatic’ talks in Iran to legitimize attack
Jerusalem Post
July 27, 2008
Joint Chiefs Chairman Adm. Mike Mullen (L) salutes Israeli Chief of Defense Forces, Lt. Gen. Gabi Ashkenazi who recently warned that all options must be prepared against Iran.
Recent talks the United States held with Iran are aimed at creating legitimacy for a potential attack against Iranian nuclear facilities, defense officials speculated on Sunday as Defense Minister Ehud Barak headed to Washington for talks with senior administration officials.
Barak will travel to Washington and New York and will hold talks with his counterpart Robert Gates, Vice President Dick Cheney, Chairman of the Joint Chiefs Admiral Michael Mullen, Secretary of State Condoleezza Rice and National Security Adviser Stephen Hadley.
Officials said it was likely that President George W. Bush would join the meeting between Barak and Hadley. On Wednesday, Barak will fly to New York for a brief meeting with United Nations Secretary-General Ban-Ki Moon.
Barak’s departure to the US came as IDF Chief of General Staff Lt.-Gen. Gabi Ashkenazi returned to Israel on Sunday from a week-long visit to the US as Mullen’s guest. Ashkenazi held talks with Cheney, Hadley and other senior officials with a focus on the Iranian nuclear program.
Israeli Defense Minister Ehud Barak (L) on Tuesday said; “A policy that consists of keeping all options on the table must be maintained” shakes hands with Barack Obama who also states would take “no options off the table”.
“There is a lot of strategic thinking concerning Iran going on right now but no one has yet to make a decision what to do,” said a top IDF officer, involved in the dialogue between Israel and the US. “We are still far away from the point where military officers are poring over maps together planning an operation.”
In recent weeks, Mullen has said publicly that he is opposed to military action against Iran which would open a “third front” for the US military which is currently fighting in Iraq and Afghanistan.
Barak’s talks in the US come a little over a week after the Bush administration sent its number three diplomat to Geneva to participate in European Union talks with Iran over its nuclear program.
The move led to reports that the US was changing its isolation tactic vis-à-vis Iran but Israeli defense officials speculated Sunday that the move was really a ploy to buy international support in the event that Bush decides to attack Iran in his last months in office.
“This way they will be able to say they tried everything,” one official speculated. “This increases America’s chances of gaining more public support domestically as well as the support of European nations which are today opposed to military action.”
Diplomatic officials have speculated that the Iran-US talks were also connected to the presidential elections.
According to the IDF officer, the frequent meetings between Israel and the US in recent weeks – Mullen was in Israel in June – is a sign of the strong ties between the two countries as well as the mutual interest both take in different regional issues such as Iran, Hizbullah, Hamas and Syria.
Bolton: U.S. should help Israel hit Iran
Jewish Ledger
July 25, 2008
Former U.N. ambassador John Bolton said the United States should assist Israel in any strike on Iran’s nuclear facilities. The ex-U.S. envoy in an op-ed in the July 15 Wall Street Journal said the United States must consider what assistance to extend to Israel before and after an airstrike.
“We will be blamed for the strike anyway, and certainly feel whatever negative consequences result, so there is compelling logic to make it as successful as possible,” wrote Bolton, who was known for his hawkish foreign policy views.
“At a minimum, we should place no obstacles in Israel’s path, and facilitate its efforts where we can.” Bolton said the efforts to curb Iran’s nuclear ambitions through sanctions had failed, and even if they could still be enacted, the time for their effectiveness has passed.
Recent News:
http://www.presstv.ir/detail.aspx?id=65029§ionid=351020104
Barak urges US to keep all options open against Iran
http://www.spacewar.com/2006/080729070910.oczdbq0a.html
Israel: All options ‘must be prepared’
http://www.presstv.ir/detail.aspx?id=64702§ionid=351020104
Ahmadinejad Condemns World Powers for Expanding Atomic Arsenals
http://www.bloomberg.com/apps/news..pKNAp.L0&refer=home
Report: Ex-Mossad chief says strike on Iran could ‘affect us for 100 years’
http://www.haaretz.com/hasen/spages/1005579.html
Iran not building nuclear weapons: Ahmadinejad
http://www.spacewar.com/2006/080728132521.5ygplkgv.html
US lawyer seeks to sue US over Iran threats
http://www.presstv.ir/detail.aspx?id=64435§ionid=3510302
Iranian Military Convoy Mysteriously Blows Up
http://www.telegraph.co.uk/news/w..onvoy-rocked-by-mystery-explosion.html
Russia says opposes deadlines for Iran response
http://news.yahoo.com/s/nm/20080724/wl_nm/iran_nuclear_russia_dc
Senior Iran cleric rejects deadline for nuclear response
http://www.spacewar.com/2006/080725120357.4nqr7cvn.html
Former NSA’s Tell Bush To Stop Threatening Iran
http://www.washingto..008/07/22/AR2008072202698_pf.html
Meteor Sparks Fear Of Iranian Missiles In Israel
Anti-War Movement Successfully Pushes Against War With Iran
Iran Attack, Election Suspension, Martial Law in the Cards?
MSM News Americans Will Not See About Iran
Filed under: 2008 Election, Ahmadinejad, Alex Jones, Amero, Canada, central bank, Congress, Control Grid, Credit Crisis, DEBT, Dollar, Economic Collapse, economic depression, Economy, Euro, exxon mobil, Federal Reserve, gas prices, George Bush, global economy, global elite, global government, Globalism, Great Depression, Greenback, indonesia, Inflation, Iran, John McCain, Lindsey Williams, manipulated economy, manipulated oil prices, manipulated prices, Mexico, middle east, neocons, New World Order, North American Union, offshoring, Oil, OPEC, petro, Petrol, price fixing, Ron Paul, Russia, single currency, SPP, Stock Market, Tehran, US Economy | Tags: oil bourse, oilstorm, shell, Stanley Monteith, t-bills
Lindsey Williams: ’Price of crude oil is going down to $50 a barrel’ ’the dollar is going to zero’
http://www.youtube.com/watch?v=U9q9hYDmBeQ
Ahmadinejad: Oil Prices Are Fixed
http://news.yahoo.com/s/nm/20080617/ts_nm/iran_oil_ahmadinejad_dc
Traders manipulated oil prices – U.S.
http://money.cnn.com/2008/07/24/markets/cftc/index.htm?eref=rss_topstories
’Oil price may hit $500 a barrel’
http://www.presstv.ir/detail.aspx?id=64986§ionid=3510213
Pickens sees $300 oil unless U.S. cuts imports
http://www.canada.com/vancouversun/news/business/stor..f-a4325ad8691c
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”
http://www.financialpost.com/story.html?id=685851
Russia Cuts Exposure To Mortgage Companies
http://www.reuters.com/article/fundsFundsNews/idUSL863553320080728
Aussi Bank Writedown Shock Street?
http://www.freemarketnews.com/WorldNews.asp?nid=58634
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
http://news.yahoo.com/s/ap/200…AhOmkT7fUvH9bYpM6zC6uZlv24cA
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: Arizona, Big Banks, California, central bank, charles schumer, Credit Crisis, DEBT, Dollar, Economic Collapse, economic depression, Economy, fannie mae, FDIC, Federal Reserve, freddie mac, global economy, Great Depression, Greenback, henry paulson, housing market, indymac, Inflation, liquidation, mortgage lenders, nationalization, nevada, Paulson, real estate, Stock Market, subprime, subprime lending, US Economy, US Treasury, Wachovia, Wamu, washington mutual | Tags: federal bank, Federal Deposit Insurance Corp., Federal Deposit Insurance Corperation, Federal Home Loan Mortgage Corporation, Federal National Mortgage Association, First Heritage Bank, mutual of omaha, National Bank of Nevada, run on banks, william poole
FDIC Takes Over Two More Failed Banks
AP
July 26, 2008
The 28 branches of 1st National Bank of Nevada and First Heritage Bank, operating in Nevada, Arizona and California, were closed Friday by federal regulators.
The banks, owned by Scottsdale, Ariz.-based First National Bank Holding Co., were scheduled to reopen on Monday as Mutual of Omaha Bank branches, the Federal Deposit Insurance Corp. said.
The FDIC said the takeover of the failed banks was the least costly resolution and all depositors – including those with funds in excess of FDIC insurance limits – will switch to Mutual of Omaha with “the full amount of their deposits.”
The FDIC also said accountholders can access their funds during the weekend by writing checks or using ATM or debit cards.
Wachovia Joins the Financial Apocalypse
JBS
July 22, 2008
It’s beginning to look as if Fortis was right. In June the Belgium-Dutch financial giant, itself beset by financial woes, warned, according to a Dutch paper, that the “complete collapse of the U.S. financial markets” was in the offing, just days or weeks away.
Maybe it won’t be a “complete” collapse, but the dire warning is beginning to appear more credible daily. Just days after the Fortis warning, letters from Senator Charles Schumer speculating about the “possible collapse of big mortgage lender IndyMac Bancorp Inc.” set off a run on that ailing mortgage lender with depositors withdrawing more than $1.3 billion in just 11 days.
In the weeks since there has been increasing speculation about the stability of both the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac). These holdovers from the Roosevelt Administration’s ill-conceived New Deal presently own or guarantee half of the $12 trillion U.S. mortgage market, yet they were characterized recently as “insolvent” by former Federal Reserve President William Poole.
In a free market, when you perform poorly your business might fail. But Poole, a consummate government regulator, thinks Fannie Mae and Freddy Mac are too big to fail. “Clearly they must be supported,” he said according to a July 11 Reuters report. “They (the U.S. government) cannot allow that amount of assets … to go into limbo.” In other words, according to Poole, the federal government must take money (a lot of money!) from some and give it to others. As economist Frederic Bastiat eloquently pointed out, that is socialism, the law run amok and turned on its head.
On top of IndyMac and Fannie and Freddie, the bad news from the financial sector keeps coming. On Tuesday, Wachovia Corp. reported striking losses totaling nearly $9 billion for the quarter. “Our reported results today are clearly a disappointing performance for which we take responsibility,” Wachovia CEO Bob Steel told analysts on a conference call. The nation’s fourth largest bank also noted that it would eliminate as many as 10,750 positions.
http://www.bloomberg.com/apps/news?pid=20601110&sid=a3479q5QfJhw
Two Troubled U.S. Banks Post Big Losses
http://www.iht.com/articles/2008/07/22/business/bank.php
Bank Gave Counterfeit Bills, Couple Says
http://www.local6.com/news/16960809/detail.html
8,500 Banks Will Fail
http://cryptogon.com/?p=2994
Evidence of the US Banking System Teetering on the Brink of Collapse
http://www.marketoracle.co.uk/Article5594.html
Paulson Says Banks Safe & Sound (liar)
http://business.timesonline.co.uk/../united_states/article4368749.ece
Arabs Buying Up Failing Western Banks
http://www.israelnationalnews.com/News/News.aspx/126866
Filed under: 1984, 2-party system, bailout, bear sterns, Big Banks, Big Brother, biometrics, California, central bank, Congress, Control Grid, credit card, credit cards, Credit Crisis, DEBT, Dollar, Economic Collapse, economic depression, Economy, fannie mae, Federal Reserve, forclosure, foreclosures, freddie mac, George Bush, global economy, gold, Great Depression, Greenback, henry paulson, House, housing market, imf, indymac, Inflation, IRS, left right paradigm, liquidation, mortgage lenders, national debt, nationalization, neocons, Neolibs, Oppression, orwell, Paulson, Police State, Propaganda, real estate, Ron Paul, Senate, silver, Stock Market, subprime, subprime lending, Surveillance, Taxpayers, US Economy, us national debt, US Treasury, Wall Street | Tags: fingerprints, housing securities, HR 3221, The American Housing Rescue & Foreclosure Preventio
Taxpayers Will Pay $800 BILLION For Failed Mortgage Lenders
House & Senate passes housing bailout bill H.R. 3221 (The American Housing Rescue & Foreclosure Prevention Act) by an overwhelming 272-152 vote, Bush will sign soon.
Youtube
July 24, 2008
Ron Paul talks about the bailout out of the housing industry and how it really just destroys the dollar and adds enormously to the debt.
Also, slipped into the bill, was the stipulation that ALL credit card transactions must now be reported to the IRS.
Details of today’s housing bill by Dr. Ron Paul:
-$2.5B line of credit to the Treasury (Fannie & Freddie – ‘F & F’) is now “open-ended”
- UNLIMITED – Treasury now allowed to buy all ‘F & F’ housing securities
- Congress no longer involved in appropriating funds (Treasury now does)
-National Debt Ceiling Moved up $800 BILLION (buried in the bill)
–Treasury Bills being exchanged for unwanted ‘F & F’ securities
- This is the asset which “backs up our currency”
- Value of these assets are depreciating
- Treasuries have replaced gold and silver to back US Dollar
– Solution breeds inflation
- Places pressure on the US Dollar
-Mortgage industry workers “will now have to be fingerprinted.”
–All credit card transactions will now be reported to the IRS.
Housing bailout bill – another $800 billion gift from the taxpayer to Wall Street
Related News:
http://market-ticker.denninger.net/archive..GRESS-IMMINENT.html
Investors worldwide are betting more than $1 trillion on a collapse in American stock prices
http://www.wakeupfromyourslumber.com/node/7529
Faber: Fannie, Freddie Should Not Get Aid
http://www.bloomberg.com/apps/n..&sid=a_L_tms03WSI&refer=home
Senate Passes Housing Bill
http://www.axcessnews.com/index.php/articles/show/id/16490
House OKs Fannie Freddie Bailout
http://news.yahoo.com/s/ap/200..Aujs0nZJn4G9TEm4v_o7vh.MwfIE
woman commits suicide as home foreclosed
http://www.norwichbulletin.com/new..suicide-as-home-foreclosed
Fannie and Freddie Own A Record $6.9 Billion Foreclosed Homes
http://www.economicpolicyjournal.co..d-freddie-own-record-69.html
U.S. Foreclosures Double
http://www.bloomberg.com/apps/news..87&sid=aomtw8.Pro2E&refer=home
IMF: U.S. Housing Overvalued By 20%
http://www.reuters.com/article/domesticNews/idUSN2542244220080726
California foreclosures up 261% from ‘07 levels
http://latimesblogs.latimes.com/laland/2008/07/cal-foreclosure.html
Freddie MAC CEO Paid $20 Million A Year
http://money.cnn.com/2008/0.._CEO.ap/index.htm?section=money_latest
Fannie, Freddie rescue pricetag could hit $25B
Housing report bruises Wall Street
Bank of China may hold huge US debt
Dems & Paulson Push Fannie/Freddie Bailout
Filed under: 2nd Amendment, Amero, anti gun, Canada, canadian dollar, central bank, Credit Crisis, DEBT, DHS, Dollar, Economic Collapse, economic depression, Economy, global economy, Globalism, Great Depression, Greenback, Gun Control, Homeland Security, Inflation, loonie, North American Union, Real ID, single currency, Stock Market, US Constitution, US Economy | Tags: common currency, rick mercer, toronto dominian bank
Rick Mercer Reports on the Amero Currency
REAL ID – A very real threat to gun rights
http://rauterkus.blogspot.com/2008/07/rea..at-to-gun-rights.html
CBC Airs NAU Propaganda Mini Series
http://noworldsystem.com/2008/04/04/cbc-airs-nau-propaganda-mini-series/
What is the ‘North American Union’?
North American Union Archive
Filed under: central bank, Credit Crisis, david walker, DEBT, Dollar, Economic Collapse, economic depression, Economy, fannie mae, freddie mac, GAO, George Bush, Great Depression, Greenback, housing market, Inflation, mortgage companies, neocons, real estate, Stimulus Package, Stock Market, subprime, subprime lending, tax rebates, Uncategorized, US Economy
US debt now at an astonishing $53 trillion
SF Gate
July 17, 2008
As the Bush administration proposes backstopping mortgage giants Fannie Mae and Freddie Mac with a $300 billion line of credit and Congress contemplates another economic stimulus, the question is who will bail out the government?
“People seem to think the government has money,” said former U.S. Comptroller General David Walker. “The government doesn’t have any money.”
A rare consensus has developed across the political spectrum that the government’s own fiscal affairs are precarious, with an astonishing $53 trillion in long-term liabilities, according to the Government Accountability Office.
noworldsystem.com 