The European Union and German Chancellor Angela Merkel on Tuesday urged the United States to deal with its financial crisis and urged U.S. lawmakers to quickly reverse their vote to reject a a US$700 billion (EUR 488 billion) bank rescue plan.
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10.01.2008
The TRUTH about the Bailout
You have heard that its all "American Gambles"
You have been told repeatedly by George Bush and Henry Paulson that this bill is about a "rescue" of Main Street, not Wall Street.
You have been lied to repeatedly.
The bill The Senate intends to try to ramrod down your throat is neither about Main Street or really even about Wall Street.
You are going to get VERY angry. Sit down before you read further.
""Hundreds of billions of dollars are going to bail out FOREIGN INVESTORS. They know it, they demanded it, and the bill has been carefully written to make sure that can happen." - Brad Sherman , D-California"
That's right folks. You are going to have $700 billion - about 25% of the total federal budget - put on your personal credit card (via taxes forever) in order to bail out foreign investors.
Oh, and the best part of it is that the underlying assets involved do not even have to be in the United States!
Bush criminal operation to sabotage Basel II
Excerpt:
The US Dark Forces led by Godfather Bush Sr., George Bush 43, Mk-Ultra (‘Himmler’) Cheney, the ‘late’ Henry M. Paulson, the late Robert M. Kimmitt, and their collaborators and partners in High Crimes and Misdemeanours, former President William Jefferson Clinton and Hillary Rodomski Clinton, have been desperately seeking, with the enthusiastic assistance of their co-conspirator Robert Rubin at Citibank, and the other US criminal financial institutions led by the CIA’s Bank of America, to torpedo the implementation of Basel II, since it defangs their corruption at the source, causing the criminal kleptocracy immense problems for the future.
Central to this criminal operation has been the following bluff (equation):
• If Citibank collapses, the stock market will collapse and will go underground, the entire banking system will seize up and the world will be catapulted into a depression, and you know it. Therefore, you cannot tell us what to do, and we will carry on doing what we are doing whatever you want.
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The US Dark Forces led by Godfather Bush Sr., George Bush 43, Mk-Ultra (‘Himmler’) Cheney, the ‘late’ Henry M. Paulson, the late Robert M. Kimmitt, and their collaborators and partners in High Crimes and Misdemeanours, former President William Jefferson Clinton and Hillary Rodomski Clinton, have been desperately seeking, with the enthusiastic assistance of their co-conspirator Robert Rubin at Citibank, and the other US criminal financial institutions led by the CIA’s Bank of America, to torpedo the implementation of Basel II, since it defangs their corruption at the source, causing the criminal kleptocracy immense problems for the future.
Central to this criminal operation has been the following bluff (equation):
• If Citibank collapses, the stock market will collapse and will go underground, the entire banking system will seize up and the world will be catapulted into a depression, and you know it. Therefore, you cannot tell us what to do, and we will carry on doing what we are doing whatever you want.
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The REAL reason for the sudden rush for the bailout?
Why the big panicked rush to pass the bailout? Two clues:
1.) the U.S. fiscal year ENDS on Sept. 30th and a NEW one starts on Oct. 1st. and
2.) The Basel-II deadline for U.S. banks to be "Basel-II compliant," originally Sept. 1st, must surely come due on Oct. 1st, 2008.
Basel-II compliant banks in Europe and elsewhere will be forbidden to do business with non-compliant banks in the U.S., effectively bringing the non-compliant banks down.
Bernanke PROVED Paulson plan bankrupt
Thank God we got a "NO" vote today folks.
No, not because the market tanked.
And no, I was not short up to my eyeballs.
I scalp traded the morning but was out when the blowup came, as I didn't expect it - I really did think the bill would pass, my and many other's efforts to stop it notwithstanding.
No, the real news is found here:
"Sept. 29 (Bloomberg) -- The Federal Reserve will pump an additional $630 billion into the global financial system, flooding banks with cash to alleviate the worst banking crisis since the Great Depression.
The Fed increased its existing currency swaps with foreign central banks by $330 billion to $620 billion to make more dollars available worldwide. The Term Auction Facility, the Fed's emergency loan program, will expand by $300 billion to $450 billion. The European Central Bank, the Bank of England and the Bank of Japan are among the participating authorities.
The Fed's expansion of liquidity, the biggest since credit markets seized up last year, came hours before the U.S. House of Representatives rejected a $700 billion bailout for the financial industry. The crisis is reverberating through the global economy, causing stocks to plunge and forcing European governments to rescue four banks over the past two days alone."
Now let's think about this folks.
Who is Henry Paulson?
The plan to rescue the US financial industry arrogates virtually unlimited money and power over the financial affairs of the state to the office of Treasury Secretary Henry Paulson. Paulson is a figure with a long history of intimate connections to the political and financial elite.
In 1970, fresh from the Masters program of the Harvard Business School, Paulson entered the Nixon administration, working first as staff assistant to the assistant secretary of defense. In 1972-73, Paulson worked as office assistant to John Erlichman, assistant to the president for domestic affairs. Erlichman was one of the key figures involved in organizing President Richard Nixon’s notorious “plumbers” unit that carried out illegal covert operations against the president’s political opponents, including espionage, blackmail, and revenge. Ehlichman resigned in 1973, and in 1975 he was convicted of obstruction of justice, perjury, and conspiracy, and was imprisoned for 18 months.
Chris Floyd: The Shadow of the Pitchfork
The vote by the House of Representatives to defeat the Wall Street bailout plan is the first act of political courage that the Congress of the United States has mounted in the last seven years. The fact that it was due largely to right-wing Republicans afraid of going down with the sinking ship of the witless leader they have followed blindly throughout his reign is a delicious irony -- but the whys and wherefores of the vote are not important. What matters is that one of America's moribund institutions has flickered to life long enough to derail a disastrous action that would have shoved the nation even deeper into the pit of corruption and ruin where it has been mired for so long.
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If you're looting the Treasury, give it to US
If the government is looting the treasury to the tune of of $700 billion plus, give the American people the money, not the con artists who got us into trouble in the first place.
We'll use the money to pay off our mortgages, credit card and other debt, and to stabilize the economy.
Instead of the peanuts the government gave us in the "stimulus package", this would have a real benefit, and would largely solve American's economic problems.
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We'll use the money to pay off our mortgages, credit card and other debt, and to stabilize the economy.
Instead of the peanuts the government gave us in the "stimulus package", this would have a real benefit, and would largely solve American's economic problems.
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Lou Dobbs: Hooray for those who defeated the bailout
NEW YORK (CNN) -- CNN's Lou Dobbs is no fan of the $700 billion bailout plan that went down to defeat in the U.S. House of Representatives on Monday. He spoke with Kiran Chetry of CNN's "American Morning" on Tuesday about how he thinks there are better ways to solve the financial problems plaguing the U.S. economy.
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9.30.2008
Will Wall Street's Meltdown Turn America Into a Police State?
By Scott Thill
Failing banks? Endless war? Call Homeland Security.
"Raw capitalism is dead." -- Henry Paulson, U.S. Treasury secretary
"Can't we just all go out and say things are OK?" -- President Bush, to congressional leaders during bailout negotiations
I'm not much of an Army Times reader, but after reading that a brigade was shipping from Iraq in October to serve as "an on-call federal response force for natural or manmade emergencies and disasters, including terrorist attacks" in the homeland right before the election, my antennae perked up. Same as they did when I read that an electoral college doomsday scenario exists in which Dick Cheney casts the deciding vote that gives McCain-Palin the White House.
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Michael Ruppert: What Yesterday's 777 Point Market Drop Really Means
Failing banks? Endless war? Call Homeland Security.
"Raw capitalism is dead." -- Henry Paulson, U.S. Treasury secretary
"Can't we just all go out and say things are OK?" -- President Bush, to congressional leaders during bailout negotiations
I'm not much of an Army Times reader, but after reading that a brigade was shipping from Iraq in October to serve as "an on-call federal response force for natural or manmade emergencies and disasters, including terrorist attacks" in the homeland right before the election, my antennae perked up. Same as they did when I read that an electoral college doomsday scenario exists in which Dick Cheney casts the deciding vote that gives McCain-Palin the White House.
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Michael Ruppert: What Yesterday's 777 Point Market Drop Really Means
US banking collapse a 'controlled demolition'
What does the rest of the world know that we don't? The United States Dollar is dead.
While we are being jerked around by the mainstream media here at home, the rest of the world has already drawn the final conclusion for us, and what they are saying about us isn't pretty.We are in the middle of a crisis much larger than most Americans could imagine, a portion of America can't even handle it, for that matter. The Bailout is an awful idea, and the majority of Americans realize that. There is even a provision that would grant Treasury Secretary Henry Paulson dictatorial powers, and that is obviously insane, but here we are debating it. It's like asking a dead man whether he wants to be buried or cremated; it's a non issue and Congress is just playing a game to distract the American people. We need to move ahead, and we should begin with taking our country back from the tyrants.
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Web-bot predictions for the coming weeks/months/years
I just put this forth, via Les Vis link below, for your consideration. Some of us do experience very powerful feelings that something is 'up,' if you will, and this is along those lines....Take it or leave it as you see fit. - Ed.
"The Time Monks" of the Web Bot Project answered questions on Coast to Coast radio during the early morning hours on September 22nd, 2008.
Firstly, here is a short recap to the previous Web Bot interview from September 2nd, 2008:
"The Web Bots see September 22-27, 2008 as precursor dates to the main turning point date of October 7, 2008. Closely watch events during September 22-27, 2008 for hints as to what to expect on October 7, 2008.
Cliff said whenever "it" happens, and whatever "it" turns out to be, "it" will be a date in history you remember like 9/11, we will remember 10/7.
The Web Bots foresee that October 7, 2008 to February 19, 2009 will be filled with emotional intensity, and the length of the release period will be extraordinary. The Web Bots have never picked up any event lasting this long. In comparison, 9/11 length lasted about 10 days. This event will be four months of high emotion......."
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"The Time Monks" of the Web Bot Project answered questions on Coast to Coast radio during the early morning hours on September 22nd, 2008.
Firstly, here is a short recap to the previous Web Bot interview from September 2nd, 2008:
"The Web Bots see September 22-27, 2008 as precursor dates to the main turning point date of October 7, 2008. Closely watch events during September 22-27, 2008 for hints as to what to expect on October 7, 2008.
Cliff said whenever "it" happens, and whatever "it" turns out to be, "it" will be a date in history you remember like 9/11, we will remember 10/7.
The Web Bots foresee that October 7, 2008 to February 19, 2009 will be filled with emotional intensity, and the length of the release period will be extraordinary. The Web Bots have never picked up any event lasting this long. In comparison, 9/11 length lasted about 10 days. This event will be four months of high emotion......."
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Les Vis: Bare assed naked in a pig skin suit
For quite some time I’ve been saying here and elsewhere that those responsible for the problems of our time are going to be exposed and hung out to dry. It’s a given that most people wouldn’t understand how this could be possible when those responsible control the media that manufactures both the news and the viewpoints which are spoon fed to the public. It seems even more impossible when the foxes run the chicken house as their own poultry farm and when the laws that were designed to protect the public have been suspended or re-engineered to the point where they look like Michael Jackson’s face.
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Whitney: Black Monday? Global investors vote NO on Paulson's bailout
The wrangling continued on the floor of the House of Representatives all weekend, but it is still unclear whether there's enough support to pass Treasury Secretary Paulson's $700 billion Emergency Economic Stabilization Act of 2008. Paulson says he has the votes, but Paulson has been wrong before. The bigger question, is whether buying up the illiquid mortgage-backed assets from the nation's banks will be enough to save the financial system from an impending meltdown. The jury is out on that question, too. Professor Nouriel Roubini, chairman of Roubini Global Economics, summed it up like this, "You're not resolving the two fundamental issues: You still have to recapitalize the banking system, and household debt is going to stay high". A large number of economists believe Roubini is right. The bill will not solve the underlying problems.
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Paulson's plan is still a pig, even with lipstick
Imagine my shock that Henry Paulson (official Treasury Dept photo), who loves snakes by the way, perhaps explaining why his right eye -- the green one, as opposed to the left eye which is blue/gray -- looks like it was transplanted from a lizard, doesn't get along well with other people. - Ed.Sept. 29 (Bloomberg) -- If Treasury Secretary Hank Paulson thought he could cram a $700 billion plan to buy financial institutions' toxic mortgage-backed waste through Congress with no questions asked, he got a rude awakening last week.
Paulson and Federal Reserve Chairman Ben Bernanke were grilled by Senate and House committees on the plan. Those same lawmakers were inundated with calls and e-mails from constituents expressing outrage at what they saw as a bailout of Wall Street for a problem of Wall Street's own making. It took them all weekend to hammer out something they could sign off on.
Mahmoud Admadinejhad '08
"The dignity, integrity and rights of the American and European people are being played with by a small but deceitful number of people called Zionists. Although they are a miniscule minority, they have been dominating an important portion of the financial and monetary centers as well as the political decision-making centers of some European countries and the US in a deceitful, complex and furtive manner. It is deeply disastrous to witness that some presidential or premiere nominees in some big countries have to visit these people, take part in their gatherings, swear their allegiance and commitment to their interests in order to attain financial or media support.
This means that the great people of America and various nations of Europe need to obey the demands and wishes of a small number of acquisitive and invasive people. These nations are spending their dignity and resources on the crimes and occupations and the threats of the Zionist network against their will."
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Bush the socialist and destroyer
Anyone who has read a good economics book would be quickly reduced to laughter and tears by George Bush’s ridiculous economic address to the nation. He put on his 9-11 suit and tried to warn Americans about the impending disaster: that their access to an infinite stream of paper money might be imperiled if they don’t cough up hundreds of billions immediately. It is very tempting to go line by line and shout back.
“I’m a strong believer in free enterprise, so my natural instinct is to oppose government intervention. I believe companies that make bad decisions should be allowed to go out of business.”
And this is why he nationalized airport security, created huge new bureaucracies, spent more than any president in American history, centralized control of education, put up more protectionist barriers than Clinton and his father combined, bailed out airlines, presided over the Sarbanes-Oxley reign of terror, unleashed anti-trust regulators, intensified health-care controls, and pretty much used every headline as an excuse to demand more money and power?
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“I’m a strong believer in free enterprise, so my natural instinct is to oppose government intervention. I believe companies that make bad decisions should be allowed to go out of business.”And this is why he nationalized airport security, created huge new bureaucracies, spent more than any president in American history, centralized control of education, put up more protectionist barriers than Clinton and his father combined, bailed out airlines, presided over the Sarbanes-Oxley reign of terror, unleashed anti-trust regulators, intensified health-care controls, and pretty much used every headline as an excuse to demand more money and power?
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