Jim Kunstler's 2014 Forecast - Burning Down The House | Zero Hedge - 0 views
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Incredible must read analysis. Take away: the world is going to go "medevil". It's the only way out of this mess. Since the zero hedge layout is so bad, i'm going to post as much of the article as Diigo will allow: Jim Kunstler's 2014 Forecast - Burning Down The House Submitted by Tyler Durden on 01/06/2014 19:36 -0500 Submitted by James H. Kunstler of Kunstler.com , Many of us in the Long Emergency crowd and like-minded brother-and-sisterhoods remain perplexed by the amazing stasis in our national life, despite the gathering tsunami of forces arrayed to rock our economy, our culture, and our politics. Nothing has yielded to these forces already in motion, so far. Nothing changes, nothing gives, yet. It's like being buried alive in Jell-O. It's embarrassing to appear so out-of-tune with the consensus, but we persevere like good soldiers in a just war. Paper and digital markets levitate, central banks pull out all the stops of their magical reality-tweaking machine to manipulate everything, accounting fraud pervades public and private enterprise, everything is mis-priced, all official statistics are lies of one kind or another, the regulating authorities sit on their hands, lost in raptures of online pornography (or dreams of future employment at Goldman Sachs), the news media sprinkles wishful-thinking propaganda about a mythical "recovery" and the "shale gas miracle" on a credulous public desperate to believe, the routine swindles of medicine get more cruel and blatant each month, a tiny cohort of financial vampire squids suck in all the nominal wealth of society, and everybody else is left whirling down the drain of posterity in a vortex of diminishing returns and scuttled expectations. Life in the USA is like living in a broken-down, cob-jobbed, vermin-infested house that needs to be gutted, disinfected, and rebuilt - with the hope that it might come out of the restoration process retaining the better qualities of our heritage.
Do We Really Want a New World War With Russia? | New Eastern Outlook - 0 views
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Washington continues making an international fool of herself by her inability to effectively counter the impression around the world that Russia, spending less than 10% of the Pentagon annually on defense, has managed to do more against ISIS in Syria in six weeks than the mighty US Air Force bombing campaign has done in almost a year and half. One aspect that bears attention is the demonstration by the Russian military of new technologies that belie the widely-held Western notion that Russia is little more than a backward oil and raw material commodity exporter. Recent reorganization of the Russian state military industrial complex as well as reorganization of the Soviet-era armed forces under Defense Minister Sergey Shoigu’s term are visible in the success so far of Russia’s ISIS and other terror strikes across Syria. Clearly Russian military capabilities have undergone a sea-change since the Soviet Cold War era. In war there are never winners. Yet Russia has been in an unwanted war with Washington de facto since the George W. Bush Administration announced its lunatic plan to place what they euphemistically term “Ballistic Missile Defense” missiles and advanced radar in Poland, Czech Republic, Romania and Turkey after 2007. Without going into detail, BMD technologies are the opposite of defensive. They instead make a pre-emptive war highly likely. Of course the radioactive ash heap in such an exchange would be first and foremost the EU countries foolish enough to invite US BMD to their soil.
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What the Russian General Staff has managed, since the precision air campaign began September 30, has stunned western defense planners with Russian technological feats not expected. Two specific technologies are worth looking at more closely: The Russian Sukoi SU-34 fighter-bomber and what is called the Bumblebee hyperbaric mortar weapon.
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The plane responsible for some of the most damaging strikes on ISIS and other terror enclaves in Syria is manufactured by the Russian state aircraft industry under the name Sukhoi SU-34. As the Russian news agency RIA Novosti described the aircraft, “The Su-34 is meant to deliver a sufficiently large ordnance load to a predetermined area, hit the target accurately and take evasive action against pursuing enemy planes.” The plane is also designed to deal with enemy fighters in aerial combat such as the US F-16. The SU-34 made a first test flight in 1990 as the collapse of the Soviet Union and the chaos of the Yeltsin years caused many delays. Finally in 2010 the plane was in full production. According to a report in US Defense Industry Daily, among the SU-34 features are: • 8 ton ordnance load which can accommodate precision-guided weapons, as well as R-73/AA-11 Archer and R-77/AA-12 ‘AMRAAMSKI’ missiles and an internal 30mm GSh-301 gun. • Maximum speed of Mach 1.8 at altitude.
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Not to mentiont that Russia has deployed its S-400 surface to air defense system to Syria, which is 2 generations later than the currently deployed U.S. Patriot systems. The S-400 can knock down aircraft or missiles flying up to 90,000 feet and travels at over 17,000 mph, very near Earth escape velocity. It has a lateral range of nearly 300 miles.
Civil Unrest Ahead - LewRockwell.com - 0 views
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The Victimized Inner Cities
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This social disruption has motivated the enthusiastic growth and militarization of our local police departments. The law and order crowd thrives on excessive laws and regulations that no US citizen can escape. The out-of-control war on drugs is the worst part, and it generates the greatest danger in poverty-ridden areas via out-of-control police. It is estimated that these conditions have generated up to 80,000 SWAT raids per year in the United States. Most are in poor neighborhoods and involve black homes and businesses being hit disproportionately. This involves a high percentage of no-knock attacks. As can be expected many totally innocent people are killed in the process. Property damage is routine and compensation is rare. The routine use of civil forfeiture of property has become an abomination, totally out of control, which significantly contributes to the chaos. It should not be a surprise to see resentment building up against the police under these conditions. The violent reaction against local merchants in retaliation for police actions further aggravates the situation —hardly a recipe for a safe neighborhood.
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Civil liberties are ignored by the police, and the private property of innocent bystanders is disregarded by those resenting police violence.
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"If Americans were honest with themselves they would acknowledge that the Republic is no more. We now live in a police state. If we do not recognize and resist this development, freedom and prosperity for all Americans will continue to deteriorate. All liberties in America today are under siege. It didn't happen overnight. It took many years of neglect for our liberties to be given away so casually for a promise of security from the politicians. The tragic part is that the more security was promised - physical and economic - the less liberty was protected. With cradle-to-grave welfare protecting all citizens from any mistakes and a perpetual global war on terrorism, which a majority of Americans were convinced was absolutely necessary for our survival, our security and prosperity has been sacrificed. It was all based on lies and ignorance. Many came to believe that their best interests were served by giving up a little freedom now and then to gain a better life. The trap was set. At the beginning of a cycle that systematically undermines liberty with delusions of easy prosperity, the change may actually seem to be beneficial to a few. But to me that's like excusing embezzlement as a road to leisure and wealth - eventually payment and punishment always come due. One cannot escape the fact that a society's wealth cannot be sustained or increased without work and productive effort. Yes, some criminal elements can benefit for a while, but reality always sets in. Reality is now setting in for America and for that matter for most of the world. The piper will get his due even if "the children" have to suffer. The deception of promising "success" has lasted for quite a while. It was accomplished by ever-increasing taxes, deficits, borrowing, and printing press money. In the meantime the policing powers of the federal government were systematically and significantly expanded. No one cared much, as there seemed to be enough "gravy" for the rich, th
WW3 - What is the New World Order (NWO)? - 0 views
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So, i'm researching Albert Pike and his 1871 Luciferian dream wher a plan for three world wars set the stage for the rule of a New World Order is laid out and described. And i find this incredible piece of research. This is actually page 3 in a series of Web articles that begins with "The Conspiracy", leads to Albert Pike and how the Illuminati Luciferians infiltrated many gorups and organizations, clipping off the leadership and subsuming those select individuals into a super secret Luciferian order. Incredible. This page describes "The New World Order". Chilling. excerpt: Introduction The following article is extracted from an excellent analysis of the New World Order by author Ken Adachi which can be found at educate-yourself.org . The term New World Order (NWO) has been used by numerous politicians through the ages , and is a generic term used to refer to a worldwide conspiracy being orchestrated by an extremely powerful and influential group of genetically-related individuals (at least at the highest echelons) which include many of the world's wealthiest people, top political leaders, and corporate elite, as well as members of the so-called Black Nobility of Europe (dominated by the British Crown) whose goal is to create a One World (fascist) Government, stripped of nationalistic and regional boundaries, that is obedient to their agenda. Listen to the Zionist* banker, Paul Warburg: "We will have a world government whether you like it or not. The only question is whether that government will be achieved by conquest or consent." (February 17, 1950, as he testified before the US Senate). Their intention is to effect complete and total control over every human being on the planet and to dramatically reduce the world's population by two thirds. While the name New World Order is the term most frequently used today to loosely refer to anyone involved in this conspiracy, the study of exactly who makes up this group is a complex and intricate
The Daily Bell - Catherine Austin Fitts on Moral Investing and the Coming Equity 'Crash... - 1 views
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If you talk about legacy systems and then a breakaway civilization, the legacy systems were financed with debt and if the resources have basically been shifted out and over into "NewCo" then that's going to be an equity model. We're literally coming into what I consider to be a planetary debt for equity swap. So the question for all of us is how do we navigate the turn? When do you leave the bond market and when does the equity increase occur? We've seen North America equity markets rising and the emerging markets falling this year.
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We're seeing a tremendous divergence in the economy in North America between those portions of the economy that are adapting new technology and growing and the rest of the economy.
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The other thing I watch is what the divergence means to bond credits and to equity valuations. If you look at the indices you don't really see it. If you look inside the indices you see some enormous splits in quality and value going on.
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Global Financial Meltdown Coming? Clear Signs That The Great Derivatives Crisis Has Now... - 0 views
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No one “understands” derivatives. How many times have readers heard that thought expressed (please round-off to the nearest thousand)? Why does no one understand derivatives? For many; the answer to that question is that they have simply been thinking too hard. For others; the answer is that they don’t “think” at all. Derivatives are bets. This is not a metaphor, or analogy, or generalization. Derivatives are bets. Period. That’s all they ever were. That’s all they ever can be.
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One very large financial institution that appears to be in serious trouble with these financial weapons of mass destruction is Glencore. At one time Glencore was considered to be the 10th largest company on the entire planet, but now it appears to be coming apart at the seams, and a great deal of their trouble seems to be tied to derivatives. The following comes from Zero Hedge… Of particular concern, they said, was Glencore’s use of financial instruments such as derivatives to hedge its trading of physical goods against price swings. The company had $9.8 billion in gross derivatives in June 2015, down from $19 billion in such positions at the end of 2014, causing investors to query the company about the swing. Glencore told investors the number went down so drastically because of changes in market volatility this year, according to people briefed by Glencore. When prices vary significantly, it can increase the value of hedging positions. Last year, there were extreme price moves, particularly in the crude-oil market, which slid from about $114 a barrel in June to less than $60 a barrel by the end of December.
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That response wasn’t satisfying, said Michael Leithead, a bond fund portfolio manager at EFG Asset Management, which managed $12 billion as of the end of March and has invested in Glencore’s debt.
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"Warren Buffett once referred to derivatives as "financial weapons of mass destruction", and it was inevitable that they would begin to wreak havoc on our financial system at some point. While things may seem somewhat calm on Wall Street at the moment, the truth is that a great deal of trouble is bubbling just under the surface. As you will see below, something happened in mid-September that required an unprecedented 405 billion dollar surge of Treasury collateral into the repo market. I know - that sounds very complicated, so I will try to break it down more simply for you. It appears that some very large institutions have started to get into a significant amount of trouble because of all the reckless betting that they have been doing. This is something that I have warned would happen over and over again. In fact, I have written about it so much that my regular readers are probably sick of hearing about it. But this is what is going to cause the meltdown of our financial system. Many out there get upset when I compare derivatives trading to gambling, and perhaps it would be more accurate to describe most derivatives as a form of insurance. The big financial institutions assure us that they have passed off most of the risk on these contracts to others and so there is no reason to worry according to them. Well, personally I don't buy their explanations, and a lot of others don't either. On a very basic, primitive level, derivatives trading is gambling. This is a point that Jeff Nielson made very eloquently in a piece that he recently published…"
'Clinton death list': 33 spine-tingling cases - 0 views
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"(Editor's note: This list was originally published in August 2016 and has gone viral on the web. WND is running it again as American voters cast their ballots for the nation's next president on Election Day.) How many people do you personally know who have died mysteriously? How about in plane crashes or car wrecks? Bizarre suicides? People beaten to death or murdered in a hail of bullets? And what about violent freak accidents - like separate mountain biking and skiing collisions in Aspen, Colorado? Or barbells crushing a person's throat? Bill and Hillary Clinton attend a funeral Apparently, if you're Bill or Hillary Clinton, the answer to that question is at least 33 - and possibly many more. Talk-radio star Rush Limbaugh addressed the issue of the "Clinton body count" during an August show. "I swear, I could swear I saw these stories back in 1992, back in 1993, 1994," Limbaugh said. He cited a report from Rachel Alexander at Townhall.com titled, "Clinton body count or left-wing conspiracy? Three with ties to DNC mysteriously die." Limbaugh said he recalled Ted Koppel, then-anchor of ABC News' "Nightline," routinely having discussions on the issue following the July 20, 1993, death of White House Deputy Counsel Vince Foster. In fact, Limbaugh said, he appeared on Koppel's show. "One of the things I said was, 'Who knows what happened here? But let me ask you a question.' I said, 'Ted, how many people do you know in your life who've been murdered? Ted, how many people do you know in your life that have died under suspicious circumstances?' "Of course, the answer is zilch, zero, nada, none, very few," Limbaugh chuckled. "Ask the Clintons that question. And it's a significant number. It's a lot of people that they know who have died, who've been murdered. "And the same question here from Rachel Alexander. It's amazing the cycle that exists with the Clintons. [Citing Townhall]: 'What it
Israel's Raid On Syria, Russia Enters The Fray - 0 views
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The Russians have now formally confirmed earlier media reports that following the Israeli air raid on Syria on Friday the Israeli ambassador in Moscow was called in to the Russian Foreign Ministry to be handed a stern lecture and a stiff protest. Moscow’s confirmation of the Russian protest to Israel, and the fact that the Israeli ambassador was summoned to the Russian Foreign Ministry within hours of the raid taking place, shows how seriously the Russians are treating this incident. What is most interesting – and worrying – about this incident is not whether or not an Israeli aircraft was shot down. The Syrians regularly claim to have shot down Israel aircraft, and the Israelis equally regularly deny this was the case. The Syrians have provided no evidence of any Israeli aircraft being shot down, and it is unlikely one was.
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Rather what is worrying about this incident is that the Syrians claim that the air raid targeted Syrian military facilities near Palmyra – deep inside Syria – and that the Syrians were sufficiently concerned about the air strike that they in turn attempted to shoot the Israeli aircraft down whilst they were flying over Israeli territory.
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The Israelis have not admitted that the target of the strike was near Palmyra. However they have not denied it either, and unofficial reports from Israel suggest the target of the strike was in fact Syria’s Tiyas or T4 air base, which is located in the general area of Palmyra.
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Russia Deploys S-400 Air Defense Systems to Syria - Geopolitics - nsnbc international |... - 0 views
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Moscow responds to the downing of a Su-24 bomber by a Turkish F-16 by deploying S-400 Air Defense Systems to Syria. Russian President Vladimir Putin said that Russia will use every available resource to ensure the safety of flights over Syria, while Russian Foreign Minister Sergey Lavrov assures that Moscow is not planning a war with Turkey. The geopolitical context.
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Putin also commented on the protection of the Hmeimim Air Base in Syria, saying: “The S-300 air defense complex will be moved to our air base in Syria. I do hope that this and other measures that we will take will be enough to make flights safe. … I would like to say that we will take the most serious attitude to what has happened and all of our means will be employed for maintaining security.” Putin learned about the downing of the Su-24 during talks with Jordanian King Abdullah II. Putin described the incident as a stab in the back from a State sponsor of terrorism. Turkey, for its part, had called on NATO members to discuss the incident. NATO Secretary-General Stoltenberg noted that Turkey had the right to defend itself. The incident was, however, rather downplayed by governments of most NATO member States. Historically, the shoot-down of a military jet is rarely a precursor of a war, even though sensationalized media reports could make one believe otherwise.
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Russian Foreign Minister Sergey Lavrov commented on the incident, saying that Russia had no plans to wage a war against Turkey. Lavrov stressed that: “Our attitude towards Turkish people has not changed. … We have questions only to the Turkish leadership.” Deescalating tensions caused by the incident is in fact also in Moscow’s interest, considering the Russian – Turkish “Turkish Stream” pipeline project. The pipeline can compensate for the loss of stability in Ukraine and counter Washington’s and London’s ambitions to throw a spanner into Russian – Continental European commerce and relations based on, among others, converging energy-security interests. The incident is, in other words, one match in ….. ……
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Newt Gingrich: 15 Things You Don't Know About Him - 1 views
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Good article on Newt; covers the good, the bad, and the ugly. Personally i don't trust Newt. As former repubican senator Jim Talent of Missouri says, "He's not a reliable and trusted conservative leader". Strangely, Talent supports Romney. And there is nothing conservative about Romney. The one thing i do like about Newt is that he is a bomb thrower extraordinaire. There isn't a Libertarian (moi), conservative, or Constitutional conservative anywhere that wouldn't love to see Newt in the ring with Obama, hammering his Marxist ass without mercy. But i'm not so sure that that desire is enough to overcome the serious character flaws and self centered egotistical baggage Newt hauls around. He proves time and again that he lacks the core values of a true conservative, including dedication to the upholding the Constitution and Rule of Law. Funny though that a valueless establishment repubican "we can manage big government more efficiently and make it work" guy like Romney is attacking Newt as not being a true conservative? What does that make Romney? At least Newt can point to the awesome Contract with America repubican take over of Congress - after 40 years in the wilderness. Even though Ron Paul has lost it on foreign policy, i continue to send money. My switch from Reagan Constitutional Conservative to Libertarian has "nearly" everything to do with the 2008 financial collapse, and the years of research and study that followed. I say "nearly" because i just couldn't pull the trigger until unexpectedly i found myself in a Bloomberg discussion questioning my support for Herman Cain. Sadly, Herman supports the Federal Reserve, including full approval of both Greenspan and Bernacke policies that have destroyed the US dollar and enabled the Banksters to run off with over $29 Trillion of our money. Of course, this is an indefensible and inexcusable position. The Libertarian's in the discussion pointed out that the problems this country faces cann
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disclosure: I met Cokie and Steve Roberts at an intimate house party in NH. Probably in 1991. Very nice people but they are full blown unionist-socialist-progressives iron bent on the European Socialism model. Not Constitutionalist in any way shape of form. Certainly not Constitutional Capitalist or free market types either.
The Daily Bell - Richard Ebeling on Libertarianism, Anarchism and the Truth of Austrian... - 0 views
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These are at least two conceivable methods of compelling the government to stop, or limit, its abuse of the monetary printing press.
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Ebeling proposes two methods of reining in out of control government printing of paper money. There is a third method; one used by Lincoln and Kennedy. This is the issuance of gold/silver/oil backed reserve notes. The notes represent gold or silver being held on deposit, and are fully redeemable. The value of the gold/silver or another commodity represented floats in the marketplace against goods and services. Nor is there a fixed exchange rate for converting fiat (paper) dollars. The market will figure those things out if left free to do so. And that's one big big "if".
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So the normal market pressures of downward price and wage adjustments in the recession are partly counter-acted by a new monetary expansion that is delaying the necessary re-coordination of market activities. Thus, given these two pressures, prices do not fall as much as a post-recession adjustment may require and they do not rise as much or as fast as might otherwise occur due to the renewed monetary expansion.
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At the same time, as you correctly ask, the Federal Reserve has been paying banks a relatively low rate of interest to keep large excessive reserves in their accounts at the Federal Reserve, rather than to fully lend those excessive reserves to private borrowers. And given the low market rates of interest that Federal Reserve policy has generated, even the low rate of interest on unlent excess reserves offered to banks by the Federal Reserve appears the relatively more profitable way to use their available funds.
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MH17: World See Tragedy, US Sees "Game Changer" | New Eastern Outlook - 0 views
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Power asserted that the most likely culprits behind the downing of MH17 were eastern Ukrainian separatists. Because of the high altitude MH17 was travelling at – approximately 33,000 feet – Power conceded that the weapons separatists have been using to down Ukrainian military aircraft would have been inadequate to down MH17. After claiming separatists had “bragged” about downing the airliner based on information from “social media,” she explained that Russia most likely assisted the separatists in operating the sophisticated anti-air missile systems required to reach MH17′s altitude. Power gives no explanation as to why after multiple successful downings of Ukrainian military aircraft with man-portable air defense systems (MANPADS), Russia and the separatists decided to employ larger, more complex weapon systems that would link any incident directly back to Moscow. Power also failed to explain how in one breath she suggests the separatists shot down MH17, then in the next claimed they did not have the ability to do so, and that Russia instead “assisted.”
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Power appears to be suggesting Russia rolled self-propelled anti-air missile systems into Ukrainian territory and assisted separatists in firing at MH17 specifically – since all other incidents of separatists shooting down aircraft involved man-portable systems incapable of hitting MH17.
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Strategically, politically, and even tactically, Russia and the separatists gained nothing by employing the larger Buk systems within Ukrainian territory as Power is suggesting. Where the World Sees Tragedy, NATO Sees a “Game Changing” Opportunity Power’s comments and conclusions were echoes from the halls of the West’s corporate-financier funded policy think-tanks. The Royal United Services Institute (RUSI) in a statement titled, “The Downing of Malaysian Airlines Flight MH17: Russia in the Dock,” provides a self-incriminating indictment as to the motives Kiev and its NATO backers had in carrying out the attack on MH17 and subsequently framing Russia for it. RUSI’s statement claims: A Game Change: Within days, however, the real debate will shift from one about producing the right evidence and culprits, to more about what can be saved from the rapidly-deteriorating relations between Russia and the West.
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Tomgram: Engelhardt, Who Rules Washington? | TomDispatch - 0 views
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As every schoolchild knows, there are three check-and-balance branches of the U.S. government: the executive, Congress, and the judiciary. That’s bedrock Americanism and the most basic high school civics material. Only one problem: it’s just not so. During the Cold War years and far more strikingly in the twenty-first century, the U.S. government has evolved. It sprouted a fourth branch: the national security state, whose main characteristic may be an unquenchable urge to expand its power and reach. Admittedly, it still lacks certain formal prerogatives of governmental power. Nonetheless, at a time when Congress and the presidency are in a check-and-balance ballet of inactivity that would have been unimaginable to Americans of earlier eras, the Fourth Branch is an ever more unchecked and unbalanced power center in Washington. Curtained off from accountability by a penumbra of secrecy, its leaders increasingly are making nitty-gritty policy decisions and largely doing what they want, a situation illuminated by a recent controversy over the possible release of a Senate report on CIA rendition and torture practices.
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All of this is or should be obvious, but remains surprisingly unacknowledged in our American world. The rise of the Fourth Branch began at a moment of mobilization for a global conflict, World War II. It gained heft and staying power in the Cold War of the second half of the twentieth century, when that other superpower, the Soviet Union, provided the excuse for expansion of every sort. Its officials bided their time in the years after the fall of the Soviet Union, when “terrorism” had yet to claim the landscape and enemies were in short supply. In the post-9/11 era, in a phony “wartime” atmosphere, fed by trillions of taxpayer dollars, and under the banner of American “safety,” it has grown to unparalleled size and power. So much so that it sparked a building boom in and around the national capital (as well as elsewhere in the country). In their 2010 Washington Post series “Top Secret America,” Dana Priest and William Arkin offered this thumbnail summary of the extent of that boom for the U.S. Intelligence Community: “In Washington and the surrounding area,” they wrote, “33 building complexes for top-secret intelligence work are under construction or have been built since September 2001. Together they occupy the equivalent of almost three Pentagons or 22 U.S. Capitol buildings -- about 17 million square feet of space.” And in 2014, the expansion is ongoing.
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In this century, a full-scale second “Defense Department,” the Department of Homeland Security, was created. Around it has grown up a mini-version of the military-industrial complex, with the usual set of consultants, K Street lobbyists, political contributions, and power relations: just the sort of edifice that President Eisenhower warned Americans about in his famed farewell address in 1961. In the meantime, the original military-industrial complex has only gained strength and influence. Increasingly, post-9/11, under the rubric of “privatization,” though it should more accurately have been called “corporatization,” the Pentagon took a series of crony companies off to war with it. In the process, it gave “capitalist war” a more literal meaning, thanks to its wholesale financial support of, and the shrugging off of previously military tasks onto, a series of warrior corporations. Meanwhile, the 17 members of the U.S. Intelligence Community -- yes, there are 17 major intelligence outfits in the national security state -- have been growing, some at prodigious rates. A number of them have undergone their own versions of corporatization, outsourcing many of their operations to private contractors in staggering numbers, so that we now have “capitalist intelligence” as well. With the fears from 9/11 injected into society and the wind of terrorism at their backs, the Intelligence Community has had a remarkably free hand to develop surveillance systems that are now essentially “watching” everyone -- including, it seems, other branches of the government.
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Is Bank of America Headed for the Glue Factory? » Counterpunch: Tells the Fac... - 0 views
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The GAO detailed instance after instance of top executives of corporations and financial institutions using their influence as Federal Reserve directors to financially benefit their firms, and, in at least one instance, themselves….
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The corporate affiliations of Fed directors from such banking and industry giants as General Electric, JP Morgan Chase, and Lehman Brothers pose ‘reputational risks’ to the Federal Reserve System, the report said. Giving the banking industry the power to both elect and serve as Fed directors creates ‘an appearance of a conflict of interest,’ the report added….
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‘If we [i.e. the World Bank] had seen a governance structure that corresponds to our Federal Reserve system, we would have been yelling and screaming and saying that country does not deserve any assistance, this is a corrupt governing structure.’” (“Non-Partisan Government Report: Federal Reserve Is Riddled with Corruption and Conflicts of Interest,” Washington’s Blog)
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Nice catch by Marbux. A Bloomberg article explains how Bank of America is moving high risk derivatives into the coffers of a federally insured subsidiary. Meaning, when (not if) the derivatives fail, the tax payers will get stuck with covering the losses and making the Banksters whole. The article also explains the recent GAO audit of the Federal Reserve where it was disclosed that through interlocking directories and shareholdings, the Bankster industry is in control of the Federal Reserve. Awful, sickening stuff. But a good catch nevertheless. excerpt: There are two things worth noting in this article. First, according to Bloomberg, "the transfers (of derivatives) are being requested by counterparties." Well, how do you like that? In other words, the investors on the other side of these contracts want Merrill to put them under an insurance umbrella provided by the FDIC. Now, why would that be? The only reason I can come up with, is that they know that a lot of these complex instruments are undercapitalized and ready to implode, so they want to make sure they get their money back any way possible. That means they need to latch on to Uncle Sam without anyone knowing about it. But, like we said, the cat is out of the bag. The other thing worth noting is that the Fed and the FDIC are at loggerheads over the matter. ("The Fed has signaled that it favors moving the derivatives to give relief to the bank holding company, while the FDIC, which would have to pay off depositors in the event of a bank failure, is objecting.") Now, that's not good at all, in fact, it's a big red flag that suggests the Fed trying to pull a fast one on the American people. One does not have to look too far for other examples of Fed misbehavior; the endless bailouts (TARP, QE1 and 2, Operation Twist, ZIRP, etc) In fact, the Fed's history is a tedious chronicle of one shifty deal after another. This is just more of the same; another gift to big finance at the public'
Israel's "Qualitative Military Edge": Blank Checks, No Balance? « LobeLog.com - 0 views
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Two years ago, Congress passed the United States-Israel Enhanced Security Cooperation Act (P.L. 112-150), which reiterated, as a matter of policy, the US commitment “to help the Government of Israel preserve its qualitative military edge amid rapid and uncertain regional political transformation.” It expressed the non-binding “sense of Congress” favoring various possible avenues of cooperation: providing Excess Defense Articles to Israel; enhanced operational, intelligence, and political-military coordination; expediting the sale of specific weaponry including F-35 joint strike fighter aircraft, refueling tankers, and “bunker buster” bombs; as well as an US-Israel cooperative missile defense program and additional aid for Israel’s Iron Dome anti-rocket system.
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Iron Dome, a dual mission system built by Israeli defense contractor Rafael Advanced Defense Systems, which doubles as a very short range air defense system and an interceptor of incoming rockets, mortars and artillery, has received $720 million in American funding since the program’s inception in 2011. Israel currently has nine batteries, each costing about $100 million. The price tag for every Tamir missile fired by the Iron Dome system costs an estimated minimum of $50,000, with two missiles responding to every incoming rocket that is considered a threat to Israeli lives and property. US support for Iron Dome will soon surpass $1 billion. In March, the Pentagon asked for $176 million for the program for Fiscal Year 2015, which begins Oct. 1, but the Senate Appropriations defense subcommittee raised the Iron Dome appropriation to $351 million on July 15—more than half the $621.6 million it had appropriated for Israeli missile defense for the upcoming year. A week later, Defense Secretary Chuck Hagel sent a letter to Senate leaders and key committee chairpersons relaying the Israeli government’s request for an immediate $285 million of emergency allocation for Iron Dome. On Aug. 1—a Friday afternoon—the House (398-8) and Senate both approved adding an additional $285 million to Iron Dome’s funding, which was followed by President Obama’s signature the following Monday morning.
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After Israel’s bombing of the UN school in Gaza, and more than 2,000 civilian Palestinian deaths since the war began on July 8, the Obama administration apparently became aware that it was uninformed about, and had very little control over US military assistance to Israel. Indeed, the Wall Street Journal reported Aug. 14 that President Obama had just discovered that the US military was authorizing and providing weapons shipments to Israel without his knowledge. Unknown to many policy makers, Israel was moving on a separate track to replenish supplies of lethal munitions being used in Gaza and to expedite the approval of the Iron Dome funds on Capitol Hill. On July 20, Israel’s defense ministry asked the US military for a range of munitions, including 120-mm mortar shells and 40-mm illuminating rounds, which were already stored at a pre-positioned weapons stockpile in Israel.
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OpEdNews - Article: Our Man In Moscow - 0 views
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Barack Obama virtually screamed his lungs out telling Russian President Vladimir Putin he had to hand him Snowden "under international law." Putin repeatedly said this was not going to happen. Obama even phoned Putin. Nothing. Washington even forced European poodles to down Bolivian President Evo Morales' plane. Worse. Moscow kept following the letter of Russian law and eventually granted temporary asylum to Snowden. The Edward Snowden saga has turned the Pentagon's Full Spectrum Dominance doctrine on its Hydra-head. Not only because of the humbling of the whole US security state apparatus, but also for exploding the myth of Full Spectrum Dominance by POTUS. Obama revealed himself once again as a mediocre politician and an incompetent negotiator. Putin devoured him as a succulent serving of eggs benedict. Glenn Greenwald will be inflicting death by a thousand leaks -- because he is in charge of Snowden's digital treasure chest. And Snowden took a taxi and left the airport -- on his own terms. Layers and layers of nuances have been captured in this fascinating discussion at Yves Smith's blog -- something impossible to find across Western corporate media. For POTUS, all that's left is to probably boycott a bilateral meeting with Putin next month, on the sidelines of the G20 summit in St Petersburg. Pathetic does not even begin to explain it.
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There's got to be a serious glitch with the collective IQ of these people. The Obama administration as well as the Orwellian/Panopticon complex are in shock because they simply cannot stop death by a thousand leaks. The Roving Eye is among those who suspect the NSA has no clue about what Snowden, as a systems administrator, was able to download (especially because someone with his skills can easily delete traces of access). Even the top NSA robot -- General Keith Alexander -- admitted on the record the "no such agency" does not know how Snowden pulled it off. He could have left a bug, or infected the system with a virus. The fun may have not even started.
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This Big Brother obsession with watching, tracking, monitoring, controlling, decoding virtually everything we do digitally is leading to monumental stupidities like Google searches attracting armed US government's agents to one's house, as is pricelessly detailed here. And still Paranoia Paradise has not isolated Washington from a major ass-kicking in Afghanistan and Iraq, or has foreseen the 2008 financial crisis; but then again it probably did, and the elites who arbitraged all that massive inside information royally profited from it. For the moment, what we have is an Orwellian/Panopticon complex that will persist with its unchecked powers; an aphasic populace; a quiet, invisible man in a Moscow multitude; and a POTUS consumed with boundless rage. Watch out. He may be tempted to wag the (war) dog.
Asia Times Online :: Digital Blackwater rules - 0 views
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But when it comes to how a 29-year old IT wizard with little formal education has been able to access a batch of ultra-sensitive secrets of the US intelligence-national security complex, that's a no-brainer; it's all about the gung-ho privatization of spying - referred to by a mountain of euphemisms of the "contractor reliance" kind. In fact the bulk of the hardware and software used by the dizzying network of 16 US intelligence agencies is privatized. A Washington Post investigation found out that US homeland security, counter-terror and spy agencies do business with over 1,900 companies. [2] An obvious consequence of this contractor tsunami - hordes of "knowledge" high-tech proletarians in taupe cubicles - is their indiscriminate access to ultra-sensitive security. A systems administrator like Snowden can have access to practically everything.
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So then we may have a case of Hong Kong and Beijing having to reach an agreement. Yet even if they decided to extradite Snowden, he could argue in court this was "an offence of a political character". The bottom line - this could drag on for years. And it's too early to tell how Beijing would play it for maximum leverage. A "win-win" situation from a Chinese point of view would be to balance its commitment to absolute non-interference in foreign domestic affairs, its desire not to rock the fragile bilateral relation boat, but also what non-pivoting move the US government would offer in return.
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Since 1996, before the British handover to China, an extradition treaty applies between the tiger and the wolf. [4] The US Department of Justice is already surveying its options. It's important to remember that the Hong Kong judicial system is independent from China's - according to the Deng Xiaoping-conceptualized "one country, two systems". As much as Washington may go for extraditing Snowden, he may also apply for political asylum. In both cases he may stay in Hong Kong for months, in fact years. The Hong Kong government cannot extradite anyone claiming he will be persecuted in his country of origin. And crucially, article 6 of the treaty stipulates, "a fugitive offender shall not be surrendered if the offence of which that person is accused or was convicted is an offence of a political character." Another clause stipulates that a fugitive shall not be surrendered if that implicates "the defense, foreign affairs or essential public interest or policy" of - guess who - the People's Republic of China.
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The American Deep State, Deep Events, and Off-the-Books Financing | Global Research - 0 views
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It is alleged that some of the bail money that released Sturgis and the other Watergate burglars was drug money from the CIA asset turned drug trafficker, Manuel Artime, and delivered by Artime’s money-launderer, Ramón Milián Rodríguez. After the Iran-Contra scandal went public, Milián Rodríguez was investigated by a congressional committee – not for Watergate, but because, in support of the Contras, he had managed two Costa Rican seafood companies, Frigorificos and Ocean Hunter, that laundered drug money.6
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In the 1950s Wall Street was a dominating complex. It included not just banks and other financial institutions but also the oil majors whose cartel arrangements were successfully defended against the U.S. Government by the Wall Street law firm Sullivan and Cromwell, home to the Dulles brothers. The inclusion of Wall Street conforms with Franklin Roosevelt’s observation in 1933 to his friend Col. E.M. House that “The real truth … is, as you and I know, that a financial element in the larger centers has owned the Government ever since the days of Andrew Jackson.”18 FDR’s insight is well illustrated by the efficiency with which a group of Wall Street bankers (including Nelson Rockefeller’s grandfather Nelson Aldrich) were able in a highly secret meeting in 1910 to establish the Federal Reserve System – a system which in effect reserved oversight of the nation’s currency supply and of all America’s banks in the not impartial hands of its largest.19 The political clout of the quasi-governmental Federal Reserve Board was clearly demonstrated in 2008, when Fed leadership secured instant support from two successive administrations for public money to rescue the reckless management of Wall Street banks: banks Too Big To Fail, and of course far Too Big To Jail, but not Too Big To Bail.20
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since its outset, the CIA has always had access to large amounts of off-the books or offshore funds to support its activities. Indeed, the power of the purse has usually worked in an opposite sense, since those in control of deep state offshore funds supporting CIA activities have for decades also funded members of Congress and of the executive – not vice versa. The last six decades provide a coherent and continuous picture of historical direction being provided by this deep state power of the purse, trumping and sometimes reversing the conventional state. Let us resume some of the CIA’s sources of offshore and off-the-books funding for its activities. The CIA’s first covert operation was the use of “over $10 million in captured Axis funds to influence the [Italian] election [of 1948].”25 (The fundraising had begun at the wealthy Brook Club in New York; but Allen Dulles, then still a Wall Street lawyer, persuaded Washington, which at first had preferred a private funding campaign, to authorize the operation through the National Security Council and the CIA.)26 Dulles, together with George Kennan and James Forrestal, then found a way to provide a legal source for off-the-books CIA funding, under the cover of the Marshall Plan. The three men “helped devise a secret codicil [to the Marshall Plan] that gave the CIA the capability to conduct political warfare. It let the agency skim millions of dollars from the plan.”27
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Kiev secretly received data from MH17 crash investigators - Ukrainian hacktivists - RT ... - 0 views
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Ukrainian CyberBerkut hacktivists claim that they have penetrated the internal network of Ukraine’s Defense Ministry and found proof that Kiev is getting secret data from MH17 crash investigators, including information which implies its involvement. A document, posted on the website cyber-berkut.net, and allegedly downloaded from Ukraine’s Defense Ministry network, dates back to August 7 and appears to be signed by Colonel Igor Zorin, the chief of Ukraine’s air defense forces. It is a report which maintains that a fragment of a projectile found together with the debris of the crashed flight MH17 is in fact a damage agent of a 9M38 surface-to-air guided missile belonging to the mobile air defense complex Buk or Buk M1. Photo scans allegedly depicting the fragment in question have been also posted. The document acknowledged that a specific rectangular shape of the fragment pointed out that it could belong to a 9N314 warhead of the 9M38 anti-aircraft missile. It was suggested that the final conclusion could be made after analyzing the original fragments depicted in the photographs.
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Buk and Buk M1 missile systems were developed by the Soviet Union and entered into service in the late 1970s and in early 1980s. Earlier this week, a source in Russia’s Defense Ministry told RIA Novosti news agency that after the fall of the Soviet Union, a number of such systems remained in Ukraine and today Kiev possesses no less than 70 Buk M1 systems. According to open sources, the Russian army operates only Buk-M1-2 and Buk-M2 missile systems – the latest modified versions developed after Ukraine became independent in 1991. The source also accused Valentin Nalivaichenko, head of the Security Service of Ukraine (SBU), of inadvertently leaking that the MH17 Boeing-777-200 crash in July was caused by an outdated missile that only Ukrainian army still operates.
The study's assumptions have attracted some criticism, but complex systems analysts contacted by New Scientist say it is a unique effort to untangle control in the global economy. Pushing the analysis further, they say, could help to identify ways of making global capitalism more stable.
The idea that a few bankers control a large chunk of the global econo