Filed under: Amero, Australia, bailout, Bank of America, Big Banks, BIS, Britain, Canada, China, Congress, corporations, corporatism, Costa Rica, David Rockefeller, Ecuador, energy, Eugenics, Euro, Europe, european union, exxon mobil, fannie mae, FDIC, Federal Reserve, food market, food prices, food shortage, freddie mac, gas prices, general motors, George Bush, Germany, global economy, global elite, global government, Globalism, gold, housing market, hyperinflation, India, indymac, International Bankers, internationalist, Iran, Japan, job market, liquidation, malthusian catastrophe, Martial Law, Mexico, middle class, mortgage companies, mortgage lenders, mugabe, nationalization, neocons, New World Order, North American Union, Oil, Patriot Act, Petrol, Police State, Population Control, Posse Comitatus, private banks, real estate, rockefeller, rothschild, shell, silver, South America, spain, Stephen Harper, subprime, subprime lending, Taxpayers, United Kingdom, Venezuela, wells fargo, Zimbabwe | Tags: Deutsche Bank, george green, k-mart, run on banks, sears, silver shortage, spanish bank, wells fargo
Stressed banks borrow record amount from Fed
Reuters
July 31, 2008
Banks borrowed a record amount of funds from the Federal Reserve in the latest week as the year old credit crisis took a persistent toll, while the commercial paper market continued to contract, signaling tough conditions for short term borrowers.
Banks’ primary credit borrowings averaged $17.45 billion per day in the latest week, the second straight week this had hit a record and up from $16.38 billion the previous week, Fed data showed on Thursday.
Zimbabwe Devalues Currency
AP
July 30, 2008
Zimbabwe will drop 10 zeros from its hyper-inflated currency — turning 10 billion dollars into one — the country’s reserve bank said Wednesday. President Robert Mugabe threatened a state of emergency if businesses profiteer from the country’s economic and political unraveling.
Shop shelves are empty and there are chronic shortages of everything including medication, food, fuel, power and water. Eighty percent of the work force is unemployed and many who do have jobs don’t earn enough to pay for bus fare.
Inverview with George Green – (7/16/2008)
http://www.politico.com/news/stories/0708/12166.html
Soaring energy bills set to push inflation to 16-year high
http://www.dailymail.co.uk/news/ar..set-push-inflation-16-year-high.html
GM Has $15.5 Billion Loss on U.S. Sales Drop, Leases
http://www.bloomberg.com/apps/news?pid=20601087&sid=agMEuJ_r_yxA&refer=worldwide
Venezuela to Nationalize Spanish Bank
http://english.cri.cn/2947/2008/08/01/1821s388058.htm
IndyMAC Files For Bankruptcy Protection
http://www.nytimes.com/2008..2&ref=business&oref=slogin&oref=slogin
Jobless Claims Up Highest In Five Years
http://www.wnbc.com/news/17049831/detail.html
Inflation Could Hit 6% By Fall?
http://economictimes.indiatimes.com..Economist/articleshow/3307499.cms
Deutsche Bank Writedowns Exceed $11 Billion
http://moneynews.com/financenews/bank_writedowns/2008/07/31/117802.html
Shell reports 33% rise in profit
http://www.iht.com/articles/2008/07/31/business/31shellNEW.php
Exxon posts record $11.68 billion profit
http://money.cnn.com/2008/07/31/news/.._profits/?postversion=2008073109
Britons Skipping Meals Due To Money Worries
http://www.money.co.uk/article/100..-meals-due-to-money-worries.htm
IMF Calls For N. African Economic Integration
Greenspan: Housing No Where Near Bottom
Economic Rebound Not As Energetic As Hoped
Biggest dive for commodities in 28 years
Filed under: Amero, CAFTA, CFR, columbia, Condoleezza Rice, Congress, Costa Rica, El Salvador, european union, global elite, Globalism, guatemala, Honduras, i-35, Illegal Immigration, Mexican Trucks, Mexico, NAFTA, NAFTA Superhighway, New World Order, Nicaragua, North American Union, panama, Peru, single currency, TTC, Vicente Fox
U.S. Plans Outline a Subsidized Pan-American Highway
Jones Report
January 8, 2008
U.S. Title Code TITLE 23 > CHAPTER 2 > § 212 provides for the construction and maintenance of the Inter-American Highway program in cooperation with the Governments of the American Republics in Central America (i.e. Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua and Panama).
“Title 23 of the US Code as currently published by the US Government reflects the laws passed by Congress as of Jan. 2, 2006.”
Under the code, the United States essentially pays for up to one-third of the total construction costs (depending on each nation’s wealth):
(a) Not to exceed one-third of the appropriation authorized for each fiscal year may be expended without requiring the country or countries in which such funds may be expended to match any part thereof, if the Secretary of State shall find that the cost of constructing said highway in such country or countries will be beyond their reasonable capacity to bear.
The U.S. also agrees to provide all the maintenance costs:
(5) will provide for the maintenance of said highway after its completion in condition adequately to serve the needs of present and future traffic.
The U.S. has cooperated with Latin America on highway systems since the first Pan American Highway Congress in Buenos Aires in 1925, but footing all the costs for infrastructure can’t be a good sign for expanded globalization to come.
This acceleration of hemispheric-consolidation only correlates with the passage CAFTA in the Central American States and the passage of ‘free trade’ agreements with Panama, Peru and Columbia during 2007. Further, Condoleezza Rice and President Bush have hailed the significant steps towards the broader ‘vision’ of a Pan-American Community.
“The founding ideal of our Pan-American Community, borne across many centuries and carried by us still, is the hope that life in the hemisphere would signify a break with the Old World, and a new beginning for all mankind,” Secretary Rice told the C.F.R. and the Organization of American States in October 2007.
“We now have the potential to create an unbroken chain of trading partners from Tierra del Fuego to the Arctic Circle,” Rice said to the OAS.
Vicente Fox has also advocated not only the North American Union, but hinted at a unified currency throughout the Americas sometime in the future during an appearance on Larry King Live.
An unbroken chain of trading partners– under ever-expanding ‘free trade’ blocs (yes, an oxymoron)– would certainly go hand-in-hand with an inter-connected, well-maintained highway– but subsidizing the expenses is no route to equal or independent nations inside a community, but rather a formula for guaranteeing centralized regional control.
That’s not to say that free travel and reasonably safe and convenient travel is not a worthwhile goal, but certainly many are concerned about the implications such a smaller hemisphere would mean for employment and wages. Even Mexican farmers are now protesting free trade, illegal immigration and the effects of NAFTA, a position American farmers likely never steered from.
Meanwhile, Mexico has already announced its intention to microchip migrant workers coming from Central and South America and other places.
L. Ronald Scheman, founder of the Pan American Development foundation and Senior Advisor to Kissinger McLarty Associates proposes that opportunities to harmonize the Americas can lead to long-term integration along the same route taken by the E.U.— early on, the E.U. was nothing more than a Coal and Steel Community which eventually solidified unification:
“To him, the strategy was clear. ‘This proposal [for a coal and steel community] has an essential political objective: to make a breach in the ramparts of national sovereignty, which will be narrow enough to secure consent — but deep enough to open the way toward the unity that is essential to peace [and we might add, for our purposes in the Americas, for development].'”
http://www.jonesreport.com/article/01_08/090108_ttc_conspiracy.html
NAFTA Jeopardizes Mexican Sugar Industry
http://www.plenglish.com/Article.asp?…EFD4%7D&language=EN
White House OKs Mexican Truck Program
http://www.rawstory.com/news/moc…_truck_progr_01042008.html