cue the lightning bolts

the only question that matters: is it true?

Iran has signed the NPT. As a signatory to the NPT, Iran may rightfully, legally, use nuclear technology for peaceful energy purposes. Iran has submitted to and passed repeated IAEA inspections. The US intelligence community (NIE) does not consider Iran a nuclear threat. Israel refuses to sign the NPT. Israel has an estimated several hundred undeclared nuclear weapons. Russia and China have warned that an attack on Iran will have global consequences. That's the situation in a nutshell. Where to next, people? Where to?

Have I now become your enemy by telling you the truth? - Galatians 4:16

9.26.2008

Let Us Break Their Bonds Asunder!



Go here to see some wonderful righteous indignation and SOLUTIONS, and videos, and letters from outraged Americans, and every manner of truth about the financial crisis and proposed abhorrent bailout.

If you have not made any phone calls yet, what the sam-hell are you waiting for?

The phone calls are working. At long last, Americans have been aroused from their stupor, praise God.

Let us break their bonds asunder, and cast away their yoke from us! Psalm 2:3

Update: Read Joan Veon.

A Higher Standard

All the war dead couldn't do what the economy seems to be doing: waking people up. It shows us the power of money, does it not? Sad, but we'll take the wake up call any way we can get it.

The division between left and right is easily manipulated for the ruling class. The division between ultra-rich and everybody else...not so much. The ruling class may have touched the third rail this time, as they have purposely set themselves apart from everyone else. So. Now they are apart from everyone else, as in pretty much every single person you know, whether democrat or republican, left or right, does not belong to the ruling class. The people who want to be bailed out travel in their own circles. That's the way they like it. They do not want to mingle with the hoi polloi, like you bubba, even though you might think you shit chocolate bars because you have a nice house and a nice car. Whatever. What I'm trying to say is when you get into us v them games, and you are so very seriously outnumbered, umm..., and pretty much all the people in the military come from the lower classes, well, you might want to rethink that plan.

In order for their plans to work, they must count on the military turning against us. Again, this may be one thing to accomplish with a terrorist attack or some more easily manipulated political trick, but it's quite another to accomplish with an economic collapse.

Therefore, John McCain seems to be devising a rise from the ashes. He will be a Maverick on this one. He will be the one to stand up to Wall Street, and then Sarah Palin will get back to Katie Couric with the answer, victoriously, to her question about how John McCain has stood up to the established interests. It doesn't matter if he's rolled over for three decades. It only matters what he does now. And if he is the one to stand up to Wall Street now, well, that will be all that matters. Does Obama understand this? Who knows.

The Republicans will be empowered. Then the terrorist attack will come, and then...Game Over USA. Sorry you lose.

But, first, we have this moment in time. We have this moment when everyone with eyes to see may gaze upon the true divide between us, the very many, and them, the chosen few. We observe an impressive chasm which the rich themselves excavated. They consider themselves safely on the other side. Safe from you and me.

Of course John McCain is one of them. So is Obama. But McCain will cross over here, magically, on a holographic media bridge, and pretend to be one of us just for as long as necessary until the terrorist attack comes and takes over the narrative, assuring him the victory. Then he dies and we are stuck with the vicious shrew.

Don't fall for it. If McCain or the Republicans stop the bailout plan, hey that great. Awesome. But we owe them NOTHING in exchange. NOT ONE THING! The politicians have the current account deficit with us, the American people. They owe US. You can think of any victory here as a small deposit against the vast treasure that they have looted from our country: dead and mangled people, outsourced jobs, moral standing around the world, crumbling infrastructure, environmental damage, substandard health care and education, etc. to infinity and beyond.

Now some will argue, well why should a politician stand up to Wall Street if they get nothing in return?

Because there comes a time when the scales of justice demand to be balanced. Any man or woman who cannot do the right thing without some sort of payback is inherently unqualified to lead this country.

Lord Jesus, teach me to be generous; teach me to serve you as you deserve, to give and not to count the cost, to fight and not to heed the wounds, to toil and not to seek for rest, to labor and not to seek reward, except that of knowing that I do your will. St. Ignatius Loyola

The Hostile Takeover of America - Fight the Bailout!

This is outstanding. I am reposting in full. - Ed.

Original here. I thank God for Americans like this man.

The headline's oscillate between proclamations of bailout success and dark forebodings--the visual representation of this is conveniently graphed for us on the stock indexes for the day. "See?" they taunt. "See how the market gets better when we say the bailout is at hand? See how it gets worse when word of your stonewalling gets out?

"We cannot let up on the Congress, and, frankly, at this point we should be calling our state representatives as well. We must accept the reality of this situation: This bailout has minimal impact on the American people; it is primarily about paying off foreign interests before the collapse, even if that process is to be heavily veiled and masked by transactions. The $700 billion dollars is nothing in the face of the problem at hand. It is enough to save a few prominent corporations, leaving them in position to sweep up the remnants at fire-sale prices. The great rush to get this bailout through isn't about saving the markets. It's about sucking in as much capital as possible before the market collapses. As quickly as the Treasury writes the check, the recipient corporations will retrench and shift their money out of the U.S. Dollar. Foreign funds will buy stock rapidly, in companies that hold solid assets, because they need to buy something fast with those dollars.

It is the collapse of the derivitives market that looms, trillions of dollars in "credit default swaps" (62 trillion in the Unites States alone, according to the International Swaps and Derivatives Association), basically insurance bonds against losses in other credit instruments, bundled and sold over and over again, like some kind of world-wide Ponzi scheme. It's not just the taxpayers holding the bag here; it is mutual funds and pension plans and savers from here and other nations who are all about to get flattened. So far, every time the true market price of these bonds rears its ugly head, it is pennies on the dollar, and this unveiling is what they have been fighting off since Bear Sterns.

The great lie is that this bail out will 'unclog' the credit pipes--as if other people are sitting around with trillions of dollars ready to buy out junk bonds at above-market prices. This is an almost laughable theory being presented to the people of the United States. "If we buy $700,000,000,000 of these bad, severely overvalued bonds at above-market prices, then others will buy the remaining $61.3 trillion of bad, severely overvalued bonds at above market-prices." Right. Come on, kids..Follow the piper down to the river...

But this isn't the dialogue that is happening in the public forum (yeah, I use that loosely). President Bush all but confessed that the sins of the world market seizure are borne by the USA, though he makes it sound like an unforeseen consequence, like all gamblers do when the pot goes the other way. And he did a great job of redirecting attention towards mortgages as the entirety of the problem, instead of merely the first crack in a dam made of cheap clay. What he cannot say is this: "It is the derivatives market that has created hundreds of trillions in false wealth, and it is this market that is imploding. We are entering a severe recession that will result in the collapse and restructuring of the economy in ways you cannot imagine, though many people have imagined it and you probably should have listened more.

As far as the bailout, if you knew what we know, you'd be looting, too..."President Bush met with McCain and Senator Obama today. This isn't about negotiating the bailout; this is about negotiating with the voters. I wish it was different on either front. By the way, President Bush, if you ever wanted to have your Anakin Skywalker moment, veto the bill no matter what and tell people what's really going on. Your father would become a footnote...

There is not enough money in the world to circumvent a massive correction in the market. Literally. That's the problem. There is not a lot of money, actual wealth, at all. There are just a lot of people saying they have money. They hold up a bond that's worth six cents and declare, "This is worth a dollar." You think it is a damnable offense that some family lies on a mortgage application, exaggerating assets, to get a loan? Corporations like Lehman, Fannie and Freddie, AIG, and the whole line up yet to come all did this to the tune of hundreds of billions. But with every default, more of these toxic bonds get found out. You see, the corporations aren't really losing money; they are just being forced to reveal that they didn't have the money in the first place. This is why "the credit" has come to a standstill. That is the usual consequence of lying to your creditors...

Your friends and family must understand these things and take action. We need whatever flimsy credit we have left to help our fellow taxpayers when misfortune lands upon them above and beyond the sum of their choices. That's why we pool our money, that's why we hire these people to manage the People's operations. We, as a nation, need to seriously review our hiring practices...

Keep calling your Senator, your representatives, your Governor, your mayor. Hammer them with this message: You've bailed out enough. Near a trillion dollars already. We will reinstate the value of the dollar by working our way out of this mess, as a people who all seek the same liberty, regardless of how we often differ in the application of that liberty. We will not bail you out, and if the fall of these corporations results in the bought-and-sold members of Congress and members of the administration losing their revenue streams, so be it. Maybe, if there is no damn money to be made in D.C., we can get some people in there who actually want to fulfill their oaths.

Listen to what Bush said and shake your head free of the patter of hyperbole. You already can't get credit, and frankly you shouldn't go anymore into debt anyway. You already can't find a good job, or at least a job that feels like you contributed something at the end of the day. You already are paying escalating prices for everything, and this new addition of debt will dilute the dollar further, and you will pay more--inflation is simply a form of taxation. It's called monetizing the debt. Either way, we lose. We can't convert our paychecks overnight into Swiss Francs. We won't know when to sell that gold we hoarded, and then it will be confiscated. And we, unlike the rest of the world, have no savings.

Let's just get on with it. Eight years of this administration dangling the Sword of Damocles over our heads, the constant threat of disaster used to provoke our acceptance of the erosion of our Constitution and Bill of Rights, has grown old. We've given up habeas corpus, we've given up the right to peaceful protest, we given up privacy in our homes. We give up a free press. We're okay with torture, now? When I joined the Marines at 17, I thought we were the good guys. Now, we've got an Army brigade with active orders on U.S. soil, the first time since the Civil War, moving to Colorado, having been trained to enforce martial law. Now, just to bring it home, they would have us give up a trillion dollars.

So, let's just get on with it, then. Bring the damn crisis. Bring your shock and awe. We'll show you what we got. We'll show you that for all of your divisiveness, we are not a mass of ignorant people incapable of adaptation, courage, unity and faith. Get on with it already. Get on with your master plan so we can plan for our tomorrow.

Yeah, history does repeat itself, and at the end, the empire always loses. It loses because people who require such obscene advantage in life in order to secure success are weak, and they build weak structures, in such a hurry to reach the heavens. But we are more than commerce, or a marketplace. And we are not a nation of people with a Constitution and Bill of Rights--We are a Nation because of the Constitution and Bill of Rights. That is the agreement that binds us. We are sovereign individuals who consent to be a Nation, through agreed upon rules of law and truthful representation. There is no royalty or papacy that dare lay claim to our free will--that is what our founders recognized, that is the experiment of our democratic republic crafted from their humility, and that is the experiment still left undone. That we would choose to avoid for a short time discomfort rather than secure the integrity of that great experiment is baffling. It renders the acts and sacrifices of those before us as lesser deeds, and resigns the promise of those who will follow to the ambitions of empty men.

John Caelan Say no to this bailout. Save the bailout for us. We are going to need it.


UPDATE: Bush's speech last night was like some kind of terrible fire insurance offered by the mafia--"Pay us or else..." Look, and see: This is a scam, the greatest transfer of wealth in our times from the poor to the select rich. The derivitives market represents 45 trillion in potentially bad debt alone. The bail out will postpone, for weeks only, the inevitable collapse of this house of cards, and the dollar will be broken. THIS NATION IS BANKRUPT and the rest of the world is running out of self-serving reasons to augment our audacious spending. We require well over 2 billion a day in debt-financing just to keep the lights on. That is dissolving before our eyes.

This bailout is Meat..on a rope. Animals see the meat hanging there and lunge, excited by the instant gratification. Sentient beings stop and think, "Meat...but on a rope.." The animal is trapped, the sentient being either steers clear or outsmarts the trap. What are we? Do you not see the rope attached to this putrid chunk of meat dangling in front of you?

An entire army brigade reports to NORTHCOM in October, the first active duty unit to EVER be permanently assigned to our home soil. They have been retrained in crowd control, tasers, and other law enforcement actions, in violation of more laws than you can shake a stick at. Come on, people. When it walks like a duck, its's a duck, and we know a thing or two about ducks. This is the end of our republic and the scenario is something like this:

1. The bail out is passed, buying them the time they need to distract through the next few weeks.
2. An "incident" takes place in early October, civil unrest is amplified, a national emergency is implemented.
3. The dollar tanks, the nation suspends servicing debt.
4. Three days later, the country decends into martial law.
5. McCain and Pailin win the election, an outcome of amplified fraud.
6. McCain will die (the actuaries on his skin cancer predict this), and Pailin becomes the president, exactly what they want, a zealot to control the police state, without questioning other policy (does she know enough to question?)
7. War is widened to ramp up the only production we have left, the military-industrial complex, with the subsequent redirecting of the worker base towards defense and military service.
8. A draft is reinstated as part of that redirection.
9. Your kid dies.
10. Their kids die.

THIS IS THE LAST STAND. If they get control of this money, mark your calendar as this being the date the Republic folded. Do not choose promises of security over liberty! Everytime that promise is made throughout history, it is a great deception. Self-determination is the grant of providence, the root of all conflict through the ages. If you sacrifice your free will, your time in this experience is for naught. Too long have we been distanced from cause and effect, too long have we suffered in the throws of cognitive dissonance, too long have we ignored the face of the lie. Trust your instincts--you are more than the sum of your experiences. You know what is happening. React accordingly, or lose the right to react.

John Caelan

REPOST AS YOU WISH

Bailout Plan: Show us the money

Taxpayers should wake up the politicians and ask them to tell Wall Street: "We want the same deal Warren Buffett got." The Omaha billionaire announced he is playing White Knight to Goldman Sachs by investing $5 billion in the endangered investment house. What a big-hearted guy. Buffett is an old-fashioned capitalist who invests in companies for the long term and I am a big admirer. But Warren Buffett did not get to be a billionaire by committing public-spirited acts of charity. He plays to win.

So his deal with Goldman Sachs is carefully wired to produce gorgeous returns for Buffett's Berkshire Hathaway. Upfront, he gets a 10 percent ownership stake in preferential shares that will pay a 10 percent dividend--even if Goldman's stock price keeps falling. But Buffett also gets the right to buy $5 billion in common shares at below the market price. So if Goldman flourishes in these hard times, Buffett will win big as its stock price soars.

Read full story

Bailout in Installments is still nonsense

Excerpt:

Significant Changes Recap

  • Initial size of the boondoggle reduced to $250 billion. Paulson was adamant against that provision as was Bernanke.
  • The government (taxpayer) will get warrants in participating companies. This is likely to be symbolic, but perhaps not. It depends on how it is structured. Paulson was adamant against this provision as well.
  • The agreement could require all companies participating in the program to agree to limits on executive pay—such as restrictions on "golden parachutes." The article says could. My translation is "will". Paulson was adamant against this provision as well. It seems that everything Paulson has been adamant against is failing. His score is -5 and counting, starting with Fannie Mae.
Shelby Replaced

I am curious about how this can happen. "Mr. Shelby has said he opposes the idea of bailing out Wall Street and was replaced in negotiations by Mr. Bennett, the number two GOP senator on the Banking panel."

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Paulson, Bush and the Grifters: The manufacturing of a crisis

Excerpt:

Maintaining the President’s simplified line of thinking, I can not escape the conclusion that we have been set up to take a massive fall in what will soon be the biggest hustle ever perpetrated by a Government against it’s People. Think about this:

The crisis was caused by mortgage defaults and foreclosures; a Limp-Wrested Program to prevent to massive failure Paulson and Bush are now telling us is immanent introduced in plenty of time to save us all, but there was no real profit in it for the lenders.

Even if every loan was modified and no one ever defaulted on a single mortgage, the banks would all still be facing steep losses because they themselves leveraged their assets to 100% or more, obviously following their own lame advice.

They built Houses and Condo’s like there was no tomorrow, and they bought way too many high priced Commercial Properties at the peak of the market. There is no possible way for them to ever recoup their investments - which have nothing to do with your or me whatsoever - and now they have figured out a way to Pass the Proverbial Buck on to us poor, hardworking taxpayers.

Now they are using the treat of an economic meltdown to cram this turkey down our throats, and it seems we are powerless to do anything about it. Who will save us? Barney? Dodd? Pelosi?

Trust me, they won’t. You need to save yourself.

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Frank blames House GOP for breakdown of deal

Very very interesting...people running off the reservation, carrying pitchforks and torches...tempers flaring...And that's just the Republicans. - Ed.

WASHINGTON - The chairman of the House Financial Services Committee declared Friday that an agreement on legislation to relieve a spreading financial crisis depends on House Republicans "dropping this revolt" against President Bush. Rep. Barney Frank said leading Democrats on Capitol Hill were shocked by the level of divisiveness that surfaced at a White House meeting Thursday, not long after key congressional players of both parties declared they'd achieved the broad outlines of an agreement on a bill implementing the administration's proposed $700 billion bailout plan. Frank said he did not think that Democrats were going to see a substantially different proposal from the plan the administration has been trying to sell to lawmakers and which had been the focal point of closed-door talks for days. He called the rival proposal being pushed by House conservative Republicans "an ambush plan."

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Lawyer: 'Serious Damage' to McCain if Palin probe report out before election

An attorney representing Alaska’s Legislative Council said John McCain’s presidential campaign fears a statewide ethics investigation into Gov. Sarah Palin, McCain’s vice presidential running mate, “would cause serious damage to the Republican ticket” if details of the probe were “publicly known before the national election.”

Anchorage attorney Peter Maassen made those comments in a 17-page court filing Wednesday where he asked a judge to dismiss a lawsuit filed last week by five Republican lawmakers who are trying to stop the Palin investigation. Maassen accused the McCain campaign of trying to derail a two-month old investigation to determine whether Gov. Sarah Palin improperly fired Public Safety Commissioner Walt Monegan.

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Dodd says White House meeting was a disaster

WASHINGTON (MarketWatch) -- Sen. Chris Dodd, the top Democrat on the Senate Banking Committee, said Thursday that bipartisan meeting with President Bush at the White House on the mortgage rescue plan was nothing short of a disaster. In an interview on the CNN cable news network, Dodd described a meeting in which Democrats were blindsided by a new core mortgage proposal from House Republicans, with the tacit backing of Republican presidential candidate John McCain. "I am not going to sign on to something I just saw this afternoon," he said. Dodd said Republicans and Treasury Secretary Henry Paulson had to decide what they wanted to support. The whole meeting "looked like a rescue plan for John McCain," Dodd said. He said he was simply going to pretend that the meeting had never happened.

Link

White House ADMITS it drew up bailout months ago

They can be so proactive when it suits them. - Ed.

No one could have seen this coming, right?

Well, actually, the White House has admitted that they drew up the bail out plan months ago:

[White House Deputy Press Secretary Tony] Fratto insisted that the plan was not slapped together and had been drawn up as a contingency over previous months and weeks by administration officials. He acknowledged lawmakers were getting only days to peruse it, but he said this should be enough.
But the government did nothing real to prevent the financial meltdown. Instead, it let the meltdown happen, and now is trying to ram through terrible and counter-productive legislation drafted previously by using fear tactics.

Does this sound familiar? It should.

Link

Jim Hightower: August 2007 primer on the housing crisis, before it got coyote ugly

ONE OF THE MOST DRAMATIC STORIES from the New Testament is of the time that
Jesus encountered money changers in the temple. Enraged by their usury and
sacrilege, he went on a tear—overturning their tables, physically driving them
out, and chastising them for converting the temple into a “den of robbers.”
The Bible doesn’t say where these bloodsucking lenders went, but now we
know: They have re-emerged in recent years to set up their tables right here in America,
working a dark alley of homeowner financing called the “subprime mortgage market.”

The what? Don’t be deterred by the finance industry’s jargon (which
is intended to numb your brain and keep regular folks from even trying
to figure out what’s going on). At its core, this is a classically simple
story of banker greed and outright sleaze. And the astonishing part is
that nearly all of the rank injustice perpetrated by today’s money
changers is considered legal and is practiced by supposedly reputable
financial firms.

Read full story (pdf)

5 Crisis questions for the press

1. What happens if nothing happens?

If the government doesn’t bail out Wall Street and the banks, will we all be in bread lines and Hoovervilles, planning our trips west to Californy? Or will we just face a deep recession or something more moderate even?

I’m not asking for fortune-telling here, just some scenarios.

2. How better could that $700 billion be spent?

Why not spend it on shoring up shaky homeowners, who are ultimately the wobbly foundation causing the debt edifice to collapse? More like this type of reporting, from yesterday’s Washington Post, is in order—and fast.

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Tarplay: NO to the Paulson-Bernanke Derivatives Bailout

Yet another way this worm can turn... - Ed.

WASHINGTON DC -- The grand theft bailout now being rammed through Congress by Treasury Secretary Paulson, Federal Reserve Chairman Bernanke, and other officials of the Bush regime with the help of accomplices Pelosi, Majority Leader Harry Reid, and other parliamentarians is a monstrosity for the ages, combining every hideous feature of monetarism, elitism, oligarchism, and sheer feckless incompetence. It is to all intents and purposes a national suicide note of the United States of America, a contract with the devil that absolutely guarantees irrevocable national decline. For any person of goodwill there can be only one impulse at the present moment, and that is to stop this bailout -- to block it, to sabotage it, to bottle it up, to load it with killer amendments, and to do everything legally possible to stop this insane design from going through.
IF MCCAIN VOTES AGAINST THE BAILOUT, HE WILL WIN THE PRESIDENCY.
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Hang 'em high!

Seven years after 9/11, we witness another, greater and even more enjoyable collapse, that of the American financial pyramid. It took some twenty years in building; its collapse took only a few weeks. Let us cut the hypocritical crap: this was a wonderful show, no ifs, ands or buts. The US stock markets boomed when they bombed Baghdad and Belgrade, they prospered when they robbed Moscow and squeezed sweat from Beijing. When they had it good, they had plenty of money for invading Iraq, threatening Iran and strangling Palestine. In short, when it was good for them, it was bad for us. Let them have a taste of their own medicine!

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New Homeland Security magic 8 ball removes terrorists fast! Now with 100% more WTF?!

The best blogpost title ever... - Ed.

“Sorry, officer, I’ve been reading Cryptogon for so many years I thought the twitching would have stopped by now.”

Via: Fox News:

Baggage searches are SOOOOOO early-21st century. Homeland Security is now testing the next generation of security screening — a body scanner that can read your mind.

World Jewish Congress President shocked by Christian groups invitation to Admadinejhad

The Zionists sound more ridiculous every day. - Ed.

Ronald S. Lauder: The head of the World Jewish Congress has expressed outrage at the decision of five Christian groups to host Iranian President Mahmoud Ahmadinejad at a dinner in New York. The Mennonite Central Committee, the Quaker United Nations Office, the World Council of Churches, Religions for Peace and the American Friends Service Committee are sponsoring a dinner on 25 September 2008 with Ahmadinejad as the guest of honor, an event described as "dialogue between religious and political leaders" and a conversation to discuss "building peaceful societies".

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Winter Patriot: Double False Flags, Shifting Sands

If you dig into modern terrorism for a while, you will eventually begin to notice two different trends that are almost always happening simultaneously.

Often they are happening so subtly that if you keep digging for a while longer you can almost stop noticing them, as they become part of the background noise.

But you never quite get used to that noise, and sometimes it makes itself evident in jarring ways, as it has done recently for me.

Read full story

9.25.2008

This Bailout Is A TRAP

If you can stand it, watch the video of Bush delivering his little pep talk to the nation last night. When he delivers his vicious lies, cleverly honed though they may be by his writers, the truth flickers across his face. You can see it in his eye area and around his mouth, the ripples of astonishment, the fleeting smirks, the lips pursed in disgust, the arched brow as he delivers what he absolutely, positively knows are LIES to the American people. The expressions go by very quickly, in fractions of seconds, but they are there. I'm sure somewhere our government has this super technology that they use in airports to analyze our faces for terrorist intent, and if they have that trained on GWB they must be laughing their asses off right now, as he leads the charge to rape our country one more time for the road. It's as if he almost can't believe we're going to fall for it again, but he'll give it the old college try. Rah rah.

This bailout plan is a trap, of that I am convinced. Bush and Paulson keep talking about what will happen if we don't do it, but nobody talks about what will happen if we do do it. They don't want you to know about that. They don't want you to know what this bailout will do to the economy.

What it can do is provide a one-time transfer of wealth to insiders who already have been playing the debt-credit system and siphoning off its predatory financial proceeds to themselves. The Wall Street bankers, brokers and fund managers to whom I’ve been speaking for many decades all know this. That is why they pay themselves such large annual bonuses and large salaries each year. The idea is to take as much as you can. As the saying goes: “You only have to make a fortune once in a lifetime.” They have been salting away their fortunes year after year, mainly in hard assets: real estate (free of mortgages), fine furniture, boats and trophy art.

Their plan now is for icing on the cake – to take Mr. Paulson’s $700 billion and run. It’s not a “bailout of the financial system.” It’s as giveaway – to insiders, to sell out all their bad bets. Companies across the board will get rid of their bad mortgages, and also their bad car loans, furniture time payments, credit-card loans, student loans – all the debts that any competent actuary could have told them never could have been paid in the first place.

...Promises that “taxpayers” will be able to recover a large part of this money are a fiction. If there were a hope of recovering this money, then investors abroad – foreign buyout funds, foreign banks, foreign sovereign wealth funds – would have been willing to buy Bear Stearns, Lehman Brothers, A.I.G. and other companies at some price. But they wouldn’t touch this at any price.

...For the government to even begin to recover some of the value of the $700 billion in junk mortgages it has bought would force new homebuyers to pay even more of their income to the banks. And if they do that, they will have less income to spend on goods and services. The domestic market will shrink, and tax revenues will fall at the state, local and federal levels. The debt overhead will deflate the economy, causing shrinkage all down the line.

So here’s where the cognitive dissonance comes in: It is necessary, even inevitable, for the volume of debt to come down – not up – to restore equilibrium. The economy was well on its way to preparing the ground for this last week. As Alan Meltzer of the American Enterprise Institute (of all places!) explained on McNeill-Lehrer, Merrill Lynch was able to be sold at 22 cents on the dollar; and the economy survived Lehman Brothers and Bear Stearns being wiped out.

Such debt writes-offs are a precondition for writing down America’s mortgage debts to levels that are affordable. But Mr. Paulson’s plan is to fight against this tide. He wants the Wall Street to keep on raking in money at the expense of the economy at large. These are the big banks who lobbied Congress to appoint de-regulators, the banks whose officers paid themselves enormous bonuses and gave themselves enormous golden parachutes. They were the leaders in the great disinformation campaign about the magic of compound interest. And now they are to get their payoff.

The pretense is that not to pay them off would threaten “the economy.” The reality is that it only would stop their predatory behavior. Worse than that, for the economy at large a government take-over of these bad loans would prevent the debt write-down that the economy needs!

It gets worse. If Congress should be so destructive as to buy out $700 billion of bad loans (for starters), the sellers will do just what Russia’s kleptocrats did. They will take their money and move it abroad to a “hard” currency country. This will help collapse the dollar. Up will go gasoline costs and prices for other imports. America will be turned into a Russian-style post-Soviet economy, having endowed a new domestic kleptocracy of insiders, who use some of their gains to finance the campaigns of American Yeltsins such as McCain.
Do not believe these people. They lie ALL THE TIME. They don't care about Americans. They only care about themselves. They set this up, knowing it would come to this, and now they will force us at gunpoint to bail them out, lying the whole time that we will be made whole. We never will. Our dollar will collapse, chaos will break out, and then they will clamp down with Martial Law and begin the oppression in earnest. It's no coincidence that the Army will install an active duty unit on October 1st, within the US, to handle 'civil unrest' and 'crowd control,' using the latest 'non-lethal' weapons. That would be in 6 days.

Keep calling your congresspeople. Here you can see one, DeFazio D-Oregon, actually show some courage as he speaks the Truth on the House floor. We need more of this, much more. We need many more people to have courage and to stand against this plan. There should be NO bailout. As DeFazio says, let them write off the bad debt first. If they need help after that, let them take a loan under stiff terms. Is that not what would be expected of any one of us? Of course it is. Good enough then, for them who already have so much.

A wolf never can so badly enslave a fellow-wolf as a man can enslave a fellow-man. It is not easier to live in freedom than to fight for freedom. One must fight for freedom like an archangel, but one must live in freedom as a saint. When you fight for freedom you are helping every slave of the world, not only yourself. - Nicholai Velimirovic, Wisdom of the Serbians

DeFazio "We shouldn't be rushed into this!"

Thinking the Unthinkable: A debt write-down and jubilee year clean slate

Read this one carefully. This explains what is really going on. - Ed.

We have reached the point where it may finally be able to break through the membrane of cognitive dissonance that has been blinded people. The very first course in economics –starting in high school, followed up in college and then refined in graduate school – should explain to students why it is false to believe the advertisement that Wall Street has been trying to sell for the past half century: The deceptive promise that an economy can get rich off the mathematical “magic of compound interest.”


The unreality of this promise should be immediately apparent by looking at the math of exponential growth. Already at the time of the American Revolution, financial economists were popularizing the contrast that Malthus soon would imitate in his population theory: Debts grow at “geometric” rates, while the economy itself grows only “arithmetically,” in a slower and more linear way.


All that is needed is to put this idea together with the basic balance-sheet definition: One person’s savings are lent out to become other peoples’ debts. So the “magic of compound” interest to savers means an equal “magic of exploding debt” to somewhere else in the economy. And inasmuch as creditors insist on protecting themselves from inevitable default by possessing collateral, it is natural that most of the economy’s debts are owed on its largest asset: land and buildings. This explains why mortgage debts have become repayable and “gone toxic.”


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The Revolution Will Not Be Organized

The revolution will not be organized,
the revolution will not be organized.com,
the revolution will not be Yahoo Grouped, Meetuped,
downloaded, uploaded, QWERTY'd, or blogged.

The revolution will not be handled by webmasters,
think-tankers, authors of policy position papers,
authors of anti-policy position papers,
secretaries, executives, executive assistants,
insiders, whistle-blowers, informants, counter-informants,
committees or sub-committees.

Your neighbor with excellent leadership qualities
will not lead you into, through, or out of the revolution.
The revolution will not be inspired, instigated, managed
or controlled by him, her, or them.
The revolution will not be organized.

Read more

This is a TRAP. Contact Your Reps. Do NOT stop calling them.

This is far more important than anything else happening right now and if the Bush administration has its way, they will ram another $&^*((&$&^# piece of "emergency legislation" down your throats (with the Democrats usual meek acquiescence, of course). The last piece of legislation that was passed during an "emergency" at breakneck speed: the oxymoronically named "Patriot Act" right after 9/11.

The press keeps yakking about the 700 billion dollar bail out of Wall Street, but very few are letting you actually read the proposal itself. It's short and... bitter. Even non-lawyers can read it quickly. Read it and weep. Comments follow after the full text. I've bolded certain sections of special concern.

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Studies in conformity, generating consensus, and why you are not adults

The superficiality and triviality of our public debates reveal themselves in many ways. I've discussed the mechanisms involved in numerous essays. The response to the current economic crisis, including the response to the "solutions" proposed, presents one of those mechanisms in stark, unforgiving terms.

Insofar as the economic crisis is concerned, I will remind you of the relevant context in exceedingly brief terms. In my rude post the other day, I emphasized that the fundamental flaw in all the "solutions" offered is that those solutions are offered to "fix" a problem that cannot be fixed. To understand this basic point, you require only three sentences from Mike Whitney's analysis. Here they are:

This cycle [in the market] will persist until the bad debts are accounted for and written off or until the exhausted dollar-system collapses altogether.
And:
In truth, there is no fix for a deleveraging market any more than there is a fix for gravity. The belief that massive debts and insolvency can be erased by increasing liquidity just shows a fundamental misunderstanding of economics.


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The beginnings of a huge conspiracy theory

That's right. This is all made possible by the fact that they KNEW, IN ADVANCE, that they could stampede the American people and Congress into bailing them out! Therefore, why worry? - Ed.

Inky99 riffs on a column by Ben Stein (of all people; Stein's been down this road before, and was roundly lambasted for even suggesting Wall Street conflict of interest problems), in which Stein hints at a remarkable Wall Street three-part conflict-of-interest conspiracy theory:

  1. Wall Street investment houses were selling investments based on bundled sub-prime loans, while simultaneously gambling that the investments were junk;

  2. The gambling was set up in such a way - using derivatives called Credit Default Swaps, essentially insurance policies against certain levels of default in the underlying mortgages (ironically, this 'insurance' was the reason that some of these securities were sold as 'blue chip investments') - that the same investment houses knew, because of their own speculative gambling behavior, would lead to a country- and world-wide financial disaster that could only be fixed by a government bail-out; and

  3. The same investment houses, most notably Goldman Sachs, have been quietly staffing high American government finance positions with their own employees, who, if you can believe it, came up with a plan to deal with the problem by showering their own firms with gifts of American government money.
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Moralpolitik

Well, this is exactly it. People who brag about ruling the world also cheat, steal, and lie nearly 100% of the time. What could they accomplish if they played by the rules? They would be quickly surpassed by better people. They know this. That's why they have to cheat, steal and lie nearly 100% of the time. - Ed.

In a world that is being destroyed by Machiavellian realpolitikers, what should moral people do?


Well, they can practice moralpolitik, which can be defined as politics based on morals, the exact opposite of realpolitik.

Imam Ali (peace be upon him) once said that no one should have thought that he was less clever than his main rivals, and pointed out that if he had been allowed to use treachery and dirty tricks, he could have outsmarted them all.

This is a classic example of moralpolitik vs. realpolitik.

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Admadinejhad's speech at the UN

AHMOUD AHMADINEJAD, President of Iran, noted that the root of the world’s problems with peace and morality lay in one’s particular worldview as well as issues of freedom, obeisance to God and justice.

He then noted that the world was being deceived by hegemonic world and bullying Powers that attacked Iraq under the false pretext of uncovering weapons of mass destruction and overthrowing a dictator. These Powers had insisted on imposing colonial agreements on Iraq by keeping them under Chapter VII of the Charter. While this was going on, he said that Palestine had suffered 60 years of carnage and invasion by Zionists, even as United Nations resolutions that have addressed the plight of the Palestinian people had been relegated to the archives, unnoticed.

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Oct 1 military starts Martial Law mission

Oh my gosh. Am I still a 'paranoid delusionist'? - Ed.

Has Sarah Palin been picked as the titular head of the coming police state?

McCain is not expected to live a long time. If he gets in, we're stuck with this shrew, and the people in charge know this full well. In fact, they're counting on it. - Ed.

Please understand what you are looking at when you look at Sarah "Evita" Palin. You are looking at the designated muse of the coming American police state.

You have to understand how things work in a closing society in order to understand "Palin Power." A gang or cabal seizes power, usually with an affable, weak figurehead at the fore. Then they will hold elections -- but they will make sure that the election will be corrupted and that the next affable, weak figurehead is entirely in their control. Remember, Russia has Presidents; Russia holds elections. Dictators and gangs of thugs all over the world hold elections. It means nothing. When a cabal has seized power you can have elections and even presidents, but you don't have freedom.

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Latest McCain shenanigans

Somebody get me a bucket...This is like a cheezy Arab dictatorship-style election. - Ed.

The biggest story of the campaign

Mark this day down. Today – last night, actually – the New York Times and Roll Call reported (it's hard to see who was first) what may be the biggest political story of the campaign. How big? John McCain might have to fire his campaign manager. Big enough?

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I ghost-wrote letters to the editor for the McCain campaign

Sept. 24, 2008 | "You can be whoever you want to be," says an inviting Phil Tuchman. "You can be a beggar or a millionaire. A mom or a husband. Whatever. You decide!"

I volunteer in political campaigns now and then. After a series of outings for Obama and a first mission as a phone banker for John McCain, I returned to McCain's headquarters in Arlington, Va. The offer was too alluring to delay -- they wanted to put me into action as a ghostwriter.

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Won't attend debate unless Congress rolls over for his friends by Friday, dammit!

Democratic Sen. Barack Obama rejected Republican Sen. John McCain’s dramatic call Wednesday to delay Friday’s presidential debate because of the economic crisis. The McCain campaign said McCain would not show up for the debate unless a deal to address the crisis was reached.

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9.24.2008

This Bailout is Total Bullshit!




















OK, look. I'm no economist. This is the situation as best I can tell. We can pick Door #1: No bailout, severe recession; or Door #2: Bailout, greedy bankers happy, hyperinflationary depression follows, martial law, new currency (Amero) forced on Americans, NWO victory.

If you are not outraged yet, you need to pay closer attention. These Wall Street people have been screwing us every way to Sunday. These high rollers, these are the people ordering the 100 foot yachts and having to get on a waiting list because the demand is so high and there aren't enough crewmen! to service their amazing lifestyles, these are the people you are being asked -- nay THREATENED by Hank Paulson and other White House goons -- to bail out. Or else our economy will go in to a severe recession and credit will be tightened.

Is that right? A severe recession? In the unforgettable words of GWB, bring it on.

We can survive a severe recession people. It's the 'Rescue Plan' we need to avoid.

WAKE UP!!!

White House Goons sent out to break kneecaps

Breathtaking, stunning arrogance. They have had this drawn up for months. - Ed.

The White House today is drumming up extraordinary pressure on Congress to approve its plan to enact a $700 billion mortgage bailout fund, suggesting the markets cannot wait much longer and dispatching Vice President Cheney and other top officials up Pennsylvania Avenue to jawbone lawmakers.

Cheney, White House Chief of Staff Josh Bolten and presidential adviser Ed Gillespie are meeting this morning with House Republican conservatives, where a rebellion is brewing against the size and questionable free market credentials of the administration proposal.

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What Nobody's Saying: The Bailout Will Kill the Dollar

What nobody in the corporate media is mentioning amid all the blather about the $700-billion Paulson bailout proposal is the impact it will have on the US dollar.

We are told that this huge gift to the financial sector—the assumption, at top dollar, of all the bad debt they’ve piled up--will be at taxpayer expense, but that’s only the half of it. (Really only the quarter of it because since the US government is technically bankrupt already, spending more than it takes in each year, all that money will be borrowed, and will be added to the national debt, meaning that just as the real cost of the $500-billion Iraq War is closer to $2 trillion, the real cost of the $700 billion bailout will be more like $1.5-2.5 trillion.)

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Analyst says intervention big mistake

Excerpt:

PETER SCHIFF: Yeah that's going to happen eventually. Maybe this is the straw that finally breaks the camel's back. And the problem is, if we can't get funding from the rest of the world, the only source of funding is the printing press at the Federal Reserve and they will print our currency into oblivion.

STEPHEN LONG: What is the alternative to this huge bail-out, this huge rescue package; hundreds of billions of dollars thrown in to rescue Wall Street?

PETER SCHIFF: The alternative is to let the free market sort this out. The government made this mess, they're sure as hell not going solve it. We need to let the market work.

Now that doesn't mean that this is all going to be sunshine and lollipops here in the United States, we're going to have a tremendous recession if the government does nothing but we're going to have a worse one; we might have a hyper inflationary depression if the government goes through with this plan.

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The PRE-PLANNED Economic/Financial Crisis of 2008

This was no accident. At first I thought the timing was off, but IF THEY GET AWAY WITH IT, the timing is actually good. - Ed.

Excerpt:

The real lesson to be gleaned from this analysis is that events of such enormity and consequence are rarely spontaneous and unchoreographed. Especially when they happen just weeks from an era defining presidential election. They have obviously been planning this one for a long time, and it has been fastidiously engineered to have a very definite effect and desired outcome – a permanent planetary plantation (PPP).

The execution, thus far, has been flawless. Even for those of us who stood there on the 1 st 911, and knew it was a fraud while the buildings were coming down, this one is exceedingly more difficult to penetrate. However, penetrate we will, until every last conspirator is sitting before the TRUTH AND RECONCILIATION COMMISSION spillin' the beans. The ultimate and lasting effect of these inquiries will be a New World Order of our making, not theirs. The only remaining, $64,000 question will undoubtedly be, “What do we do with them when we head them off at the pass?”

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Paulson THREATENS Americans

Paulson spews PROPAGANDA. BULLSHIT! We are ALREADY in DIRE STRAITS, ARE WE NOT??? This bailout helps the GREEDY BANKERS and makes our situation much, Much WORSE!

Let the banks go down. Too bad. Better to have a recession, which we already have, than a hyperinflationary depression when our dollar becomes worthless and they move us over to the NWO currency, the Amero.

If you go gambling and lose big, do you come home and raid your kids' piggy banks so you can go out drinking? OK. That's what they're doing to us. Bad, bad men. Send them to JAIL.

Sorry to shout....just so pissed off... - Ed.

The US economy is in imminent peril if Congress delays approving a 700-billion-dollar rescue, Treasury Secretary Henry Paulson warned Tuesday as global markets rang the alarm.

The head of the Federal Reserve Ben Bernanke also piled pressure on lawmakers to vote the debt rescue "urgently ... to avert what otherwise could be very serious consequences for our financial markets and for our economy."

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TBR News, Voice of the White House

And a comment about the “rescue of the collapsing credit market” by the Bush people: In essence, Secretary Paulson wants to set up a Federal agency which will scoop up billions of dollars of bad debt the greedy banks ‘suddenly’ found themselves stuck with. This financial fraud will be dumped onto the American taxpayer and is privately estimated to exceed 6 trillion dollars. The banks involved, who were criminally responsible for this situation, get off with a Pass Free card and can get their golden parachutes, or the golden shower if they want it.And when the banking community realized that this payoff might actually happen, they lined up in groups of fifty with outstretched hands for their friends to press money into. Also, Paulson and McCain are going to insure all investors in U.S. money-market funds which will cost our taxpayers many more hundreds of millions. And as to the ‘fiscal fix,’ recall the words of Patrick Henry. ‘Trust it not sir, it shall prove a snare and a delusion.’

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Pakistan probes mystery of US Marines' steel boxes in Marriott

Because we would never, ever do any spying or anything like that. Perish the thought! - Ed.

Pakistani authorities are trying to "solve the riddle" of US Marines and their mysterious steel cases that were shifted to the Marriott Hotel four days before it was razed in the worst terrorist attack in the federal capital, a media report on Tuesday said.

"The authorities want to ascertain if it was a routine exercise or part of some special mission that does not have the approval of the government of Pakistan," The News said.

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Winter Patriot: Because You'll Believe Anything...

In a phone call to an Islamabad TV station, "a group calling itself Fedayeen-i-Islam" has claimed responsibility for the bombing of the Marriot Hotel in Islamabad, according to the Pakistani newspaper Dawn.

Fedayeen-i-Islam is "a little-known group" according to Bloomberg. But just how little-known?

Dawn's report quotes "a senior [Pakistani] government official" as saying:

“We have not heard the name of the organisation but we are trying to locate its network.”
Amazing.

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9.23.2008

An event in which some people find out that they have been hung out to dry, to their astonishment.

First off, let us consider the hinterlands, the great unwashed, the American people who have been forced to pay for the Iraq War and its consequences with their ever-stagnant salaries. What do they think about all this brouhaha?

The American people blame the GOP 2:1 for the unfolding economic disaster.

WASHINGTON (AFP) - The financial turmoil that has rocked global markets appears to be benefiting US presidential hopeful Barack Obama, according to a new poll released Monday that finds the Democratic candidate pulling ahead of his Republican opponent John McCain with a 51 percent to 46 percent lead.

The CNN/Opinion Research Corporation poll also finds that by a two-to-one margin Americans blame Republicans for the current financial crisis.

Forty-seven percent of registered voters say Republicans are more responsible for the state of the economy, compared to 24 percent of registered voters who say Democrats are more responsible.
Yes. Of course we do. We may be flouridated and gamma-rayed into bright smiling idiocy, but we're not dead yet. A few brain cells yet have the working synapses, ruthlessly connecting the Bush dot with the economic misery dot, over and over again.

Now let us move up a few socio-economic clicks, to the bustling corridors of Wall Street.
The title character of my 2007 novel, Confessions of a Wall Street Shoeshine Boy, was inspired by a real-life shoeshiner who plied his trade among the Guccis and Ferragamos of the financial district. What a view he had! From the very bottom rung of the economic ladder, he watched Wall Street insanity of outlandish proportions: the shady world of unbelievable hedge-fund profits, the supermodel girlfriends, $5,000 bottles of wine, cocaine-fueled trading and partying, the jaw-dropping castles of the new superrich being erected in Greenwich and the Hamptons.

...Few people on the trading floor were inclined to make small talk with menial workers last week, one such worker told me, because 90 percent of the staff had put in full days over the weekend, trying to figure out the latest repercussions for their company. All day, he saw people staring at their monitors in disbelief, pausing only to yell, "What the [expletive]?" or "This is a [expletive]-show." There was none of the usual horseplay or joking around. Instead, people were screaming into their phones and then slamming them down.

Many of the traders who were used to receiving six-figure annual bonuses have started brown-bagging their lunches instead of ordering in sushi or eating out at local restaurants. "Dude, we already passed the recession," one trader explained to the worker. "This is the Depression. Save your money."

The trading floor had always seemed, to one observer, rock-solid Republican -- until recently. One staunch Republican stood up in his trading group's row and announced, to the amazed stares of his colleagues, "I'm voting for Obama. I don't care if I have to pay more taxes. I just want things to be fixed."

Oh dear. Dear dear dear. My goodness gracious. This is just terrible. Brown-bagged lunches?? What is the world coming to?

And a step about them, many in the Republicans in Congress have been left bewildered.
Last week’s deepening financial crisis and the string of bailouts engineered by Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke left Republicans bewildered, whipsawed and divided over how to respond....Some members of the Republican Study Committee, which represents conservative stalwarts, were decrying the bailout plan as a step closer to "socialism," according to Roll Call.
No comment. But even farther up, in the hallowed halls, walk the people who are not confused, and not bewildered, and not upset. For these people, everything is under control and proceeding apace.

What happened on September 18-19 took years of preparation, capped by a faux ideology crafted by public-relations think tanks to be broadcast under emergency conditions to panic Congress - and voters - right before the presidential election. This seems to be our September election surprise. Under staged crisis conditions, Pres. Bush and Treasury Secretary Paulson are now calling for the country to come together in a War on Defaulting Homeowners. This is said to be the only hope to "save the system." (What system is this? Not industrial capitalism, or even banking as we know it.) The largest transformation of America's financial system since the Great Depression has been compressed into just two weeks, starting with the doubling of America's national debt on September 7 with the nationalization of Fannie Mae and Freddie Mac. (My computer's spellchecker will not permit me to use the euphemism "conservatorship" that Mr. Paulson applied to bailing out the Fannie Mae and Freddie Mac fraudsters.)

Economic theory used to explain that profits and interest were a return for calculated risk. But today, the name of the game is capital gains and computerized gambling on the direction of interest rates, foreign currencies and stock prices - and when bad bets are made, bailouts are the calculated economic return for campaign contributions. But this is not supposed to be the time to talk of such things. "We must act now to protect our nation's economic health from serious risk," intoned Pres. Bush on September 19. What he meant was that the White House must make the Republican Party's largest group of campaign contributors whole - Wall Street, that is - by bailing out their bad gambles. "There will be ample opportunity to debate the origins of this problem. Now is the time to solve it." In other words, don't make this an election issue. "In our nation's history there have been moments that require us to come together across party lines to address major challenges. This is such a moment." Right before the presidential election! The same guff was heard earlier on Friday morning from Sec. Paulson: "Our economic health requires that we work together for prompt, bipartisan action." The broadcasters said that half a trillion dollars was discussed for this day's maneuverings.
Yes. This is an emergency. It's time to ram some new dictatorial powers down the American people's collective throat quickly. OR ELSE!

Or Else WHAT, exactly? We could be somehow less screwed?

Smoking Mirrors: How long before the dominoes begin to tumble?

Can anyone doubt that the time is at hand? It’s funny how everything from Biblical prophecy to the Mayan Calendar; everything from sources channeling The Cassiopeans to those channeling The Pleiadians; everything from rational atheists to practicing metaphysicians all say some day is just about now. Economists (who aren’t lying sacks of shit) say so. The same liars go on from one day to the next cosmeticizing this hyena culture while they loot the till.

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Let the Bubble Pop

Let’s NOT bail them out. Let’s assert our political independence from those who wish to drag the American people down with them. It’s time to assume control, and not just throw money at the problem. Right?

The situation has NOT been resolved and the cure is worse than the disease for the American public. At issue is are we going to join the lemmings of Wall Street and run over the cliff or do we exercise our political rights to establish new rules for the conduct of those who have accumulated so much wealth and power? WE THE PEOPLE….

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Financial Bailout: America's own kleptocracy

Nobody expected industrial capitalism to end up like this. Nobody even saw it evolving in this direction. I'm afraid this failing is not unusual among futurists: The natural tendency is to think about how economies can best grow and evolve, not how it can be untracked. But an unforeseen road always seems to appear, and there goes society goes off on a tangent.

What a two weeks!

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Reporter warns staged financial crisis part of facist coup

A reporter for the left leaning alternative news website The Huffington Post has been attacked by neo-con bloggers and phony right-wing patriots after pointing out that the current financial crisis is part of an intentional coup to transfer unprecedented power to the Executive Branch and place public funds in the hands of the global corporate elite.


Writer Larisa Alexandrovna, makes a number of salient points in an article entitled “Welcome to the final stages of the coup…“.


Referring to the Bush administration’s “Wall Street bailout bill“, Alexandrovna warns that a fascist coup is in it’s closing stages, describing the proposed legislation as “treachery being conducted in the light of day.”

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Taxpayers, Congress push back against bailout

Washington, DC - Push back against the massive $700 billion Wall Street bailout proposal has come hard and fast from members of Congress on both sides of the aisle.

The bailout plan proposed by the Bush administration would give the Treasury Department and Treasury Secretary Henry Paulson - a former Wall Street CEO himself - the power to buy up extremely risky mortgages and other dangerous debt using taxpayer dollars. Because the US government continues to run a deficit, under the plan, the Treasury would have to borrow money to buy this private sector debt - essentially using the taxpayer's credit card to buy home loans that are currently weighing down Wall Street firms.

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USA

Today Bush literally said: "Yeah, this is a big price tag, cause it's a big problem. I told my people that I don't want to be timid in the face of a significant problem that'll affect the average citizen."

In that same spirit, the public needs to respond to the fact that the United States has become nothing more than one continuous "immediate crisis" constantly on alert for threats of all kinds, but which responds only to the needs of the private corporate elite: while consigning the needs of ordinary working people to the trash-heap! Our failed leader has left out some key points in his most recent proposals that need to be considered:

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Ten reasons why Bush's proposed bailout is larceny

Armed with fearfully catastrophic predictions reminiscent of the rushed run-up to the Iraq War, the Bush White House now insists that complete collapse of the world economy is imminent if the Bush administration isn't IMMEDIATELY given a blank check for up to $1 trillion to dole out to the ailing financial services industries and its richly paid executives.

Wall Street Gets Bailed Out by Me When I'm Getting Screwed?
Explains noted economist Robert Reich at TPM Cafe1:

"The public doesn't like a blank check. They think this whole bailout idea is nuts. They see fat cats on Wall Street who have raked in zillions for years, now extorting in effect $2,000 to $5,000 from every American family to make up for their own nonfeasance, malfeasance, greed, and just plain stupidity.

"Wall Street's request for a blank check comes at the same time most of the public is worried about their jobs and declining wages, and having enough money to pay for gas and food and health insurance, meet their car payments and mortgage payments, and save for their retirement and childrens' college education.

"And so the public is asking: Why should Wall Street get bailed out by me when I'm getting screwed?"

Why indeed? Read full story


Media cries foul when county stops flouridating water

(NaturalNews) A recent newscast delivered some great news for natural health advocates while portraying it as a bad thing. On July 19, 2008 Channel 9 News (ABC) in Seminole County, FL reported that "Soon, a natural element will no longer be added to county drinking water, find out how the county tried to avoid telling customers until Channel 9 got involved."

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Rabbis say Iran seeks peace, respects Judaism, call for true dialogue with Admadinejhad

The Neturei Karta Jews are True Torah Jews, not Zionists. The know full well that Zionism is the enemy of Jews. They reject the evil and racist teachings of the Talmud. - Ed.

NEW YORK, Sept. 22 /PRNewswire-USNewswire/ -- Rabbi Yisroel Dovid Weiss, spokesman of Neturei Karta International, issued the following statement on the eve of the arrival of the Iranian President Mahmoud Ahmadinejad.

"It has been our honor and privilege to meet with President Ahmadinejad, as well as other Iranian leaders, several times in the past. In addition we have had the pleasure of visiting Iran on different occasions. At each encounter with the Iranian leadership, we have emphasized to them that, despite media hysteria and the statements of some misinformed Jews, we have found the Iranian people and their leaders to be friendly and respectful."

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Top 25 censored stories for 2009 (?)

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A doctor weighs in about McCain's health

I've gotten a number of emails from readers in the medical profession, sharing their concerns about John McCain's health. As Sam Donaldson said yesterday, McCain's confusion on a series of issues of late raises the "age question" again. It may not be politically correct to ask if John McCain is hiding information from the public about his mental status (senility, dementia, Alzheimer's) or about his cancer, but it's really something we can't ignore, especially now that McCain has chosen Sarah Palin as his VP, someone who would become president if McCain dies in office or is otherwise forced to step down.

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9.22.2008

The secret life of Tzipi Livni

How the woman set to be Israel's new leader earned her spurs as an agent working for a covert cell in an elite spy unit

It is an eye-catching episode on the CV of any would-be prime minister: a dangerous, youthful stint as a spy in one of the world's most respected and feared secret services.

True to her training, Tzipi Livni, the Israeli leader-in-waiting, has maintained a Sphinx-like silence about her Mossad career in Paris in the early 1980s. Consequently, reports on her service have pegged her as anything from a frontline agent hunting down Arab terrorists across Europe to a mere house-sitter deployed to provide a respectable front for Mossad safe houses in the French capital.

Mossad does not divulge details but The Times can reveal that Ms Livni ran substantial risks as an Israeli agent operating in a covert cell in Europe.

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What was mysterious activity going on in Marriot Hotel Islamabad by US marines

Marriott Hotel has now become a ghost house which was yesterday the most beautiful and prestigious hotels in the Islamabad. While the condemnation of the blasts and the deaths and the loss of property is going on from all the quarters, some intriguing news is also pouring in.

After the blast, mysteriously fire was started at the fourth and fifth floors. It was said that this fire was the result of gas pipeline burst running through the hotel. The million dollar question is that was the gas pipeline not running through the other floors? Why the fire broke out from the fourth and fifth flours? That is the question which perhaps holds the key to the mystery as why the hotel was targeted yesterday, in which more than 60 people died including many foreigners.

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AIG's dangerous collapse


This article, in particular, is really outstanding for clearly explaining how this market worked. - Ed.

While it may look superficially similar to the recent implosions of such investment giants as Fannie Mae, Freddie Mac and Lehman, the takeover and bailout of AIG is quite different, and means that the market is entering the next and even more dangerous phase. What is driving the fall of AIG – and potential government losses that may far, far exceed the $85 billion bailout announced late on September 16th - is not mortgages or real estate (directly), but fears that AIG’s huge, global credit-default swap positions will unravel. The $62 trillion dollar credit derivatives market is 50 times the size of the subprime mortgage derivatives market, and is indeed larger than the entire global economy.

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Taxpayers forced to bailout Zionist gansters

The current financial crisis in the United States involves some of the very same Zionist criminals and entities that I pointed out in my recent chapter, "The Architecture of Terror: Mapping the Israeli Network Behind 9-11."
The collapse of their criminal scams on Wall Street could result in more information coming out about the Zionist gangsters behind 9-11.
Such outrageous criminal scams cannot be kept hidden for long.
The government loan of $85 thousand millions of U.S. taxpayer dollars ($85 billion) to keep afloat Maurice Greenberg's criminal operation, American International Group (A.I.G.), brings into the spotlight one of the key individuals in the Zionist criminal network behind 9-11.
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Economic problem and solution in a nutshell

The Federal Reserve bank is a private corporation. They are an international banking cartel which makes money by printing and loaning money at interest. They are acting to crash the economy through dollar devaluation–printing and loaning money without economic justification. This is for two reasons: further centralization of power and centralization of wealth.

Throwing the Federal Reserve bankers in jail and throwing away the key would be the best solution. We should create a true public fiat currency like the Lincoln Greenback. This will be fought hard by the international banking cartel who own the MSM and mainstream politicians.

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The Mother of All Frauds

Excerpt:

If you think the cost of this bill is $700 billion, you're wrong. The cost is actually infinite and the entire bill constitutes a giant money-laundering scheme.

Paulson can (and presumably will) buy up to $700 billion of these "assets", then sell them. Let's say he decides to buy them at 60 cents on the dollar and sell them for 10. You, the taxpayer, will eat the fifty cents, for an immediate cost of $350 billion dollars.

Having done so, he is then authorized to do so again, since the $700 billion is no longer on the government's balance sheet.

In fact, he can do this without limit, other than possibly due to the federal debt ceiling, which of course Congress will raise any time we get close to it. Oh yeah, this bill does that right up front too. No need to bother with it the first time around.

Folks, $700 billion isn't even close to the total cost of this monster.

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We have DAYS to stop this

Congress hopes to pass the $700 Billion bailout bill by Friday, according to an article in Bloomberg.

In case you haven't heard, the bill would not only stick up American taxpayers for an additional $700 billion, but would literally give Paulson and the government fascist powers.

Don't believe me?

Well, as the Bloomberg article notes: "The bill would bar courts from reviewing actions taken under its authority."

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The unitary Federal Reserve - Crisis choreography

Along with much of the world, I have watched with increasing disquiet as the United States of America morphed under President Bush into a lawless soft dictatorship more like the USSR than the USA. Under his theory of the "unitary executive" the laws that Congress enacted were disapplied by signing statements and secret legal opinions. The protections of the Constitution were eroded and marginalized by police powers and warrantless surveillance. International treaties governing the protection of sovereignty, rules of war and the universal rights of man were distorted by unilateral interpretation and willfully hidden misconduct. Court rulings and judicial review were avoided, and where forced, were ignored or overridden or negated by executive pardon. Transparency and audit became a joke with refusals to cooperate with tribunals or to comply with supeonas or produce evidence. This lawlessness has not made the world or the United States or its allies safer in the age of terrorism as it has degraded and confused what we might have hoped to defend.

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The economic meltdown is no accident

Given recent events, prior predictions (observations, really) appear to be coming to fruition:

  • I warned of the coming economic problems and their implications, as well as why they were planned here. (July 14, 2007)
  • The reasons for the planned destruction of the dollar were given here. (February 27, 2008)
  • The collapse of the dollar was discussed here. (March 6, 2008)
  • Ron Paul warned of worldwide economic collapse here. (March 13, 2008)
  • Congress was warned, via a very rare closed-door session, of the exact events that are happening today, and those that are about to happen here. (March 17, 2008)
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How a group of international bankers engineered the 1929 crash and the great depression

How successful has the Federal Reserve System been? It depends on your point of view. Since Woodrow Wilson took his oath of office, the national debt has risen from $1 billion to $455 billion. The total amount of interest paid since then to the international bankers holding that debt is staggering, with interest having become the third largest item in the federal budget. Interest on the national debt is now $22 billion every year, and climbing steeply as inflation pushes up the interest rate on government bonds. Meanwhile, our gold is mortgaged to European central banks, and our silver has all been sold. With economic catastrophe imminent, only a blind disciple of the “” could believe that all of this has occurred by coincidence.

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