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Gary Edwards

Larry Summers and the Secret "Bankster End Game" Memo : http://goo.gl/wDhDhL - 1 views

news.google.com/?ar=1379450048

banksters Larry-Summers Federal-Reserve-Bankster-Cartel financial-collapse

shared by Gary Edwards on 17 Sep 13 - No Cached
  • Gary Edwards on 17 Sep 13
     
    Diigo is screwing up the URL AGAIN!!!!! WTF!!! The correct title is "Larry Summers and the Secret "End-Game" Memo :: http://goo.gl/wDhDhL From the marbux treasure trove of truth we have financial expert Greg Palast describing how the Banksters engineered the 2008 World Financial Collapse. Greg names names, sighting an important 1997 memo signed by then Deputy Treasury Secretary, Larry Summers. The memo describes the Banksters "end game", and authorizes pulling the trigger on a process of forcing the world's financial institutions to accept the game of derivative roulette where high risk financial schemes and casino bets had to be accepted as "financial assets". Good story and as from everything I know, the absolute truth. Read it carefully because these same Banksters control the Obama Administration and seek to continue the great shakedown. One item of note is the recent resignation of Larry Summers as Obama nominee to head the Federal Reserve Bankster Cartel. Summers is one of the architects of the 2008 financial collapse, but is seen be Wall Street as hesitant to continue with the current Bernake flooding of the money markets with $85 Billion per month in freshly minted paper. Even the hint of rolling back the Bankster bailout a bit is enough to do in Summers. alternative Fed Banster Czar Janette Yellin promises to up the $85 Billion monthly bailout, and Wall Street celebrated with a near doubling of trades. We're so screwed! We started the "Socialism and the End of the American Dream" Diigo group in September of 2008 as an effort to understand the financial collapse. In this short article, Greg Palast summarizes the story and places the important facts on the table for all to see. Pray with me for his health and safety. excerpt: "The year was 1997.  US Treasury Secretary Robert Rubin was pushing hard to de-regulate banks.  That required, first, repeal of the Glass-Steagall Act to dismantle the barrier between commercial ba
  • Paul Merrell on 18 Sep 13
     
    Related link: Summers Withdraws From Consideration for Fed Chairmanship, http://www.bloomberg.com/news/2013-09-15/obama-said-he-accepted-summers-decision-to-withdraw-his-name.html
  • Gary Edwards on 19 Sep 13
     
    From the marbux treasure trove of truth we have financial expert Greg Palast describing how the Banksters engineered the 2008 World Financial Collapse. Greg names names, sighting an important 1997 memo signed by then Deputy Treasury Secretary, Larry Summers. The memo describes the Banksters "end game", and authorizes pulling the trigger on a process of forcing the world's financial institutions to accept the game of derivative roulette where high risk financial schemes and casino bets had to be accepted as "financial assets". Good story and as from everything I know, the absolute truth. Read it carefully because these same Banksters control the Obama Administration and seek to continue the great shakedown. One item of note is the recent resignation of Larry Summers as Obama nominee to head the Federal Reserve Bankster Cartel. Summers is one of the architects of the 2008 financial collapse, but is seen be Wall Street as hesitant to continue with the current Bernake flooding of the money markets with $85 Billion per month in freshly minted paper. Even the hint of rolling back the Bankster bailout a bit is enough to do in Summers. alternative Fed Banster Czar Janette Yellin promises to up the $85 Billion monthly bailout, and Wall Street celebrated with a near doubling of trades. We're so screwed! We started the "Socialism and the End of the American Dream" Diigo group in September of 2008 as an effort to understand the financial collapse. In this short article, Greg Palast summarizes the story and places the important facts on the table for all to see. Pray with me for his health and safety. excerpt: "The year was 1997.  US Treasury Secretary Robert Rubin was pushing hard to de-regulate banks.  That required, first, repeal of the Glass-Steagall Act to dismantle the barrier between commercial banks and investment banks.  It was like replacing bank vaults with roulette wheels. Second, the banks wanted the right to play a new high-risk game:  "d
Paul Merrell

The Money Changers Serenade: A New Bankers' Plot to Steal Your Deposits | Global Research - 0 views

www.globalresearch.ca/...5359018

banksters fraud electronic-currency Summers

shared by Paul Merrell on 25 Nov 13 - No Cached
  • Writing in the Wall Street Journal (“Confessions of a Quantitative Easer,” November 11, 2013), Andrew Huszar confirms my explanation to be the correct one. Huszar is the Federal Reserve official who implemented the policy of QE. He resigned when he realized that the real purposes of QE was to drive up the prices of the banks’ holdings of debt instruments, to provide the banks with trillions of dollars at zero cost with which to lend and speculate, and to provide the banks with “fat commissions from brokering most of the Fed’s QE transactions.” (See: www.paulcraigroberts.org) This vast con game remains unrecognized by Congress and the public. At the IMF Research Conference on November 8, 2013, former Treasury Secretary Larry Summers presented a plan to expand the con game. Summers says that it is not enough merely to give the banks interest free money. More should be done for the banks. Instead of being paid interest on their bank deposits, people should be penalized for keeping their money in banks instead of spending it. To sell this new rip-off scheme, Summers has conjured up an explanation based on the crude and discredited Keynesianism of the 1940s that explained the Great Depression as a problem caused by too much savings. Instead of spending their money, people hoarded it, thus causing aggregate demand and employment to fall.
  • Summers says that today the problem of too much saving has reappeared. The centerpiece of his argument is “the natural interest rate,” defined as the interest rate at which full employment is established by the equality of saving with investment. If people save more than investors invest, the saved money will not find its way back into the economy, and output and employment will fall. Summers notes that despite a zero real rate of interest, there is still substantial unemployment. In other words, not even a zero rate of interest can reduce saving to the level of investment, thus frustrating a full employment recovery. Summers concludes that the natural rate of interest has become negative and is stuck below zero. How to fix this? The way to fix it, Summers says, is to charge people for saving money. To avoid the charges, people would spend the money, thus reducing savings to the level of investment and restoring full employment. Summers acknowledges that the problem with his solution is that people would take their money out of banks and hoard it in cash holdings. In other words, the cash form of money provides consumers with a freedom to save that holds down consumption and prevents full employment. Summers has a fix for this: eliminate the freedom by imposing a cashless society where the only money is electronic. As electronic money cannot be hoarded except in bank deposits, penalties can be imposed that force unproductive savings into consumption.
  • for Summers, the plight of the consumer is not the problem. The problem is the profits of the banks. Summers has the solution, and the establishment, including Paul Krugman, is applauding it. Once the economy officially turns down again, watch out.
  • Paul Merrell on 25 Nov 13
     
    Paul Craig Roberts exposes Larry Summers formula for the banksters to grab money from everyone: eliminate all but electronic-currency and penalize savings. Not mentioned by Roberts, but much of the infrastructure for this is already in place. For example, late last year all recipients of Social Security and VA benefit checks were notified that after March 1, 2013, they would be in violation of the law if they continued to receive paper checks. They were required to enroll in approved electronic deposit programs, all of which are offered by banks. Until about two years ago, people could merely state in writing that they didn't want it and could continue receiving paper checks. But Congress closed that loophole.  (I remain out of compliance.) Debit card is now mandatory, although they have not yet enacted penalties for non-compliance.  So the banksters now get the "float" on virtually all federal SS and VA benefit payments until spent. That's as opposed to the prior Treasury Department drafts whose funds were not in the banking system.   More to the point, the web portal for the federal "Go Direct" program to sign up for direct deposit is in place and debugged. It wouldn't take much beyond a bigger data set to issue debit cards for everyone in the U.S. during a transition to a cashless economy.  The Constitution says gold and silver only for payment of debts; paper currency paved the way for financial abuse of the economy by banksters. Now Summers wants to do away with cash entirely in favor of digital currency with penalties for saving? My life savings must be surrendered to a bank so I can be penalized for saving? And of course moving to all-digital currency would give the spy agencies a much more detailed record of your purchases to work with. The location where you bought that last cup of coffee is instantly available to the NSA? Gimme a break!    
Gary Edwards

Larry Summers and the Secret End Game Memo - by Greg Palast | Investigative Reporter - 1 views

www.gregpalast.com/s-and-the-secret-end-game-memo

Banksters WTO Federal-Reserve-Bankster-Cartel New-World-Order Globalist-Elites

shared by Gary Edwards on 02 Oct 13 - No Cached
  • Gary Edwards on 02 Oct 13
     
    excerpt: "The year was 1997.  US Treasury Secretary Robert Rubin was pushing hard to de-regulate banks.  That required, first, repeal of the Glass-Steagall Act to dismantle the barrier between commercial banks and investment banks.  It was like replacing bank vaults with roulette wheels. Second, the banks wanted the right to play a new high-risk game:  "derivatives trading."  JP Morgan alone would soon carry $88 trillion of these pseudo-securities on its books as "assets." Deputy Treasury Secretary Summers (soon to replace Rubin as Secretary) body-blocked any attempt to control derivatives. But what was the use of turning US banks into derivatives casinos if money would flee to nations with safer banking laws? The answer conceived by the Big Bank Five:  eliminate controls on banks in every nation on the planet - in one single move.    It was as brilliant as it was insanely dangerous. How could they pull off this mad caper?  The bankers' and Summers' game was to use the Financial Services Agreement, an abstruse and benign addendum to the international trade agreements policed by the World Trade Organization. Until the bankers began their play, the WTO agreements dealt simply with trade in goods-that is, my cars for your bananas.  The new rules ginned-up by Summers and the banks would force all nations to accept trade in "bads" - toxic assets like financial derivatives. Until the bankers' re-draft of the FSA, each nation controlled and chartered the banks within their own borders.  The new rules of the game would force every nation to open their markets to Citibank, JP Morgan and their derivatives "products." And all 156 nations in the WTO would have to smash down their own Glass-Steagall divisions between commercial savings banks and the investment banks that gamble with derivatives. The job of turning the FSA into the bankers' battering ram was given to Geithner, who was named Ambassador to the World Trade Organization. "
  • Paul Merrell on 02 Oct 13
     
    Greg Palast does good work. I'm reminded of a passage from Carl Oglesby's The Yankee and Cowboy War where he argued rather convincingly that conspiracy is the norm rather than the exception at the boundary line between government and big business.
Paul Merrell

Amend the Federal Reserve: We Need a Central Bank that Serves Main Street | Global Rese... - 0 views

www.globalresearch.ca/...5360637

banksters federal-reserve Federal-Reserve-reform

shared by Paul Merrell on 11 Dec 13 - No Cached
  • December 23rd marks the 100th anniversary of the Federal Reserve. Dissatisfaction with its track record has prompted calls to audit the Fed and end the Fed.  At the least, Congress needs to amend the Fed, modifying the Federal Reserve Act to give the central bank the tools necessary to carry out its mandates. The Federal Reserve is the only central bank with a dual mandate. It is charged not only with maintaining low, stable inflation but with promoting maximum sustainable employment. Yet unemployment remains stubbornly high, despite four years of radical tinkering with interest rates and quantitative easing (creating money on the Fed’s books). After pushing interest rates as low as they can go, the Fed has admitted that it has run out of tools. At an IMF conference on November 8, 2013, former Treasury Secretary Larry Summers suggested that since near-zero interest rates were not adequately promoting people to borrow and spend, it might now be necessary to set interest at below zero. This idea was lauded and expanded upon by other ivory-tower inside-the-box thinkers, including Paul Krugman. Negative interest would mean that banks would charge the depositor for holding his deposits rather than paying interest on them. Runs on the banks would no doubt follow, but the pundits have a solution for that: move to a cashless society, in which all money would be electronic. “This would make it impossible to hoard cash outside the bank,” wrote Danny Vinik in Business Insider, “allowing the Fed to cut interest rates to below zero, spurring people to spend more.”
  • Business Week quotes Douglas Holtz-Eakin, a former director of the Congressional Budget Office: “We’ve had four years of extraordinarily loose monetary policy without satisfactory results, and the only thing they come up with is we need more?” Paul Craig Roberts, former Assistant Secretary of the Treasury, calls the idea “harebrained.” He is equally skeptical of quantitative easing, the Fed’s other tool for stimulating the economy. Roberts points to Andrew Huszar’s explosive November 11th Wall Street Journal article titled “Confessions of a Quantitative Easer,” in which Huszar says that QE was always intended to serve Wall Street, not Main Street.  Huszar’s assignment at the Fed was to manage the purchase of $1.25 trillion in mortgages with dollars created on a computer screen. He says he resigned when he realized that the real purpose of the policy was to drive up the prices of the banks’ holdings of debt instruments, to provide the banks with trillions of dollars at zero cost with which to lend and speculate, and to provide the banks with “fat commissions from brokering most of the Fed’s QE transactions.”
  • Bernanke created debt-free money and bought government debt with it, returning the interest to the Treasury. The result was interest-free credit, a good deal for the government. But the problem, says Lounsbury, is that: The helicopters dropped all the money into a hole in the ground (excess reserve accounts) and very little made its way into the economy.  It was essentially a rearrangement of the balance sheets of the creditor nation with little impact on the debtor nation. . . . The fatal flaw of QE is that it delivers money to the accounts of the creditors and does nothing for the accounts of the debtors. Bad debts remain unserviced and the debt crisis continues.
  • ...2 more annotations...
  • Bernanke delivered the money to the creditors because that was all the Federal Reserve Act allowed. If the Fed is to fulfill its mandate, it clearly needs more tools; and that means amending the Act.  Harvard professor Ken Rogoff, who spoke at the November 2013 IMF conference before Larry Summers, suggested several possibilities; and one was to broaden access to the central bank, allowing anyone to have an ATM at the Fed. Rajiv Sethi, Barnard/Columbia Professor of Economics, expanded on this idea in a blog titled “The Payments System and Monetary Transmission.” He suggested making the Federal Reserve the repository for all deposit banking. This would make deposit insurance unnecessary; it would eliminate the need to impose higher capital requirements; and it would allow the Fed to implement monetary policy by targeting debtor rather than creditor balance sheets. Instead of returning its profits to the Treasury, the Fed could do a helicopter drop directly into consumer bank accounts, stimulating demand in the consumer economy. John Lounsbury expanded further on these ideas. He wrote in Econintersect that they would open a pathway for investment banking and depository banking to be separated from each other, analogous to that under Glass-Steagall. Banks would no longer be too big to fail, since they could fail without destroying the general payment system of the economy. Lounsbury said the central bank could operate as a true public bank and repository for all federal banking transactions, and it could operate in the mode of a postal savings system for the general populace.
  • The Federal Reserve Act was drafted by bankers to create a banker’s bank that would serve their interests. It is their own private club, and its legal structure keeps all non-members out.  A century after the Fed’s creation, a sober look at its history leads to the conclusion that it is a privately controlled institution whose corporate owners use it to direct our entire economy for their own ends, without democratic influence or accountability.  Substantial changes are needed to transform the Fed, and these will only come with massive public pressure. Congress has the power to amend the Fed – just as it did in 1934, 1958 and 2010. For the central bank to satisfy its mandate to promote full employment and to become an institution that serves all the people, not just the 1%, the Fed needs fundamental reform.
  • Paul Merrell on 11 Dec 13
     
    In my view, the Fed is beyond salvage. It needs abolition, not a new role. The Constitution grants Congress the power to mint and coin money, not a group of rent-seeking banksters. 
Gary Edwards

Jim Kunstler's 2014 Forecast - Burning Down The House | Zero Hedge - 0 views

www.zerohedge.com/...14-forecast-burning-down-house

Banksters

shared by Gary Edwards on 08 Jan 14 - No Cached
  • Gary Edwards on 08 Jan 14
     
    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.
Gary Edwards

Where The Bailout Was Born: One Year Ago, at Stanford - March 10th, 2008 - 0 views

www.businessinsider.com/t-was-born-one-year-ago-2009-3

financial-crisis myron-scholes hank-paulson obama-socialism banksters

shared by Gary Edwards on 10 Mar 09 - Cached
  • Gary Edwards on 10 Mar 09
     
    We just passed the first anniversary of an important, if little noted, meeting where the plans for what would become the government's attempted bailout of the banking system were first hatched. One year ago, a group of venture capitalists, Silicon Valley executives and professors at the Stanford Institute for Economic Policy Research met to discuss the looming crisis in finance and debate a possible bailout. It was early for such talk. Bear Stearns had not yet collapsed. Hank Paulson was still deriding the notion of a bailout and knotting his brow about moral hazard. But the group gathered at Stanford, which included Larry Summers and Long-Term Capital Management veteran and Nobel laureate Myron Scholes, saw what was coming: the government would eventually spend a lot of tax payer money in an attempt to clean up the credit mess.
Gary Edwards

How The Two-Party Oligarchy Uses The Democrat Vs Republican Charade To Loot The Country... - 0 views

daviddegraw.org/...us-history-non-hyperbolic-edit

oligarchy Banksters financial-collapse Federal-Reserve-Bank-Cartel

shared by Gary Edwards on 29 Jul 11 - No Cached
  • Gary Edwards on 29 Jul 11
     
    The tragic comedy that is the deficit debate is helping to further expose the opening salvo of another "brutal campaign of economic shock and awe," or as journalistic appeasers would say, "austerity." This debate also helps people to understand how the Democrat Vs Republican charade and the "lesser of two evils" game is played by the banksters - all you have to do is spend about an hour researching it. ..... What has to happen for you to stop being a status quo supporting naïve journalist and realize that we are in the middle of a war? More accurately, it is a slaughter. An all-time record-breaking slaughter…. When I write that Obama is a puppet, some people still get upset with me. Are you kidding me? What kind of president allows this to happen without holding people accountable? What kind of president allows our tax dollars to be taken and handed out as all-time record-breaking bonuses while we have an all-time record-breaking number of people living in poverty? What kind of president puts career-long preeminent economic imperialists Tim Geithner and Larry Summers in charge of our economy, and supports Ben Bernanke's reconfirmation as Fed Chairman? This is all absurd and inexcusable! These three people would be in prison if we lived in a nation ruled by law. Obama is a bullshit artist - Period, Full Stop. This is a quintessential banana republic ruled by a puppet president. If that truth is too much for you to handle, stop reading this right now and go retreat into your 'reality TV' world while you still can…. What will it take to make you understand this? Don't you get it? This is a war! This is a mass slaughter carried out by economic policy. This is the elimination of the existence of a middle class. These are financial terrorists committing crimes against humanity. Our country is being attacked! My family is under attack! My child is under attack! I am under attack! We are under attack!" ......
Paul Merrell

Israel Grants Oil Rights in Syria to Murdoch and Rothschild - Craig Murray - 0 views

www.craigmurray.org.uk/...yria-to-murdoch-and-rothschild

war & peace Israel Golan-Heights oil Genie-Energy

shared by Paul Merrell on 31 Mar 16 - No Cached
  • srael has granted oil exploration rights inside Syria, in the occupied Golan Heights, to Genie Energy. Major shareholders of Genie Energy – which also has interests in shale gas in the United States and shale oil in Israel – include Rupert Murdoch and Lord Jacob Rothschild. This from a 2010 Genie Energy press release: Claude Pupkin, CEO of Genie Oil and Gas, commented, “Genie’s success will ultimately depend, in part, on access to the expertise of the oil and gas industry and to the financial markets. Jacob Rothschild and Rupert Murdoch are extremely well regarded by and connected to leaders in these sectors. Their guidance and participation will prove invaluable.” “I am grateful to Howard Jonas and IDT for the opportunity to invest in this important initiative,” Lord Rothschild said. “Rupert Murdoch’s extraordinary achievements speak for themselves and we are very pleased he has agreed to be our partner. Genie Energy is making good technological progress to tap the world’s substantial oil shale deposits which could transform the future prospects of Israel, the Middle East and our allies around the world.” For Israel to seek to exploit mineral reserves in the occupied Golan Heights is plainly illegal in international law. Japan was succesfully sued by Singapore before the International Court of Justice for exploitation of Singapore’s oil resources during the second world war. The argument has been made in international law that an occupying power is entitled to opeate oil wells which were previously functioning and operated by the sovereign power, in whose position the occupying power now stands. But there is absolutely no disagreement in the authorities and case law that the drilling of new wells – let alone fracking – by an occupying power is illegal.
  • Israel tried to make the same move twenty years ago but was forced to back down after a strong reaction from the Syrian government, which gained diplomatic support from the United States. Israel is now seeking to take advantage of the weakened Syrian state; this move perhaps casts a new light on recent Israeli bombings in Syria. In a rational world, the involvement of Rothschild and Murdoch in this international criminal activity would show them not to be fit and proper persons to hold major commercial interests elsewhere, and action would be taken. Naturally, nothing of the kind will happen.
  • Paul Merrell on 31 Mar 16
     
    From Wikipedia: "Genie Energy's Strategic advisory board is composed of: Dick Cheney (former vice president of the United States), Jacob Rothschild, 4th Baron Rothschild, Rupert Murdoch (media mogul and chairman of News Corp), James Woolsey (former CIA director), Larry Summers (former head of the US Treasury), and Bill Richardson, an ex-ambassador to the United Nations and energy secretary."
Gary Edwards

There Are No Coincidences - 3 views

This commentary is currently making the rounds of the Bay Area Patriots circles: ITS ALL TRUE :: Any one of these 'coincidences' when taken singularly appear to not mean much, but when taken as a ...

Obama-coincidences Marxism Marxist-Muslim

started by Gary Edwards on 02 Jul 13 no follow-up yet
Paul Merrell

Israel Retaliates over EU's Directive on Labeling Goods from Occupied Arab Territories ... - 0 views

nsnbc.me/...from-occupied-arab-territories

war & peace Israel colonies EU labeling

shared by Paul Merrell on 04 Dec 15 - No Cached
  • The administration of Israeli Prime Minister Benjamin Netanyahu responded to the recently adopted EU directive on labeling goods from occupied Arab territories by suspending the Israeli – European Union dialog over the Israeli – Palestinian peace process. 
  • In November the EU adopted a directive that prescribes the labeling of Israeli products and goods from Israeli occupied Arab territories, which are, occupied territories in the Palestinian West Bank, East Jerusalem, the Israeli occupied Syrian Golan Heights, and the Israeli occupied Lebanese Sheba Farm area. The EU stressed that the adoption of the directive was not a hostile act against Israel. Instead, noted the EU, the directive aimed at providing consumers correct information about the origin of goods.
  • Prime Minister Netanyahu’s Cabinet plans reportedly to implement additional measures against six specific countries, which are Belgium, France, Ireland, Luxemburg, Malta and Sweden. The measures are likely to include the suspension of cooperation with regard to rehabilitation projects in the Palestinian Gaza Strip and projects aimed at strengthening the Palestinian Authority (PA).
  • ...2 more annotations...
  • On Wednesday, December 2, the Speaker of the Israeli Parliament (Knesset), Yuli Edelstein commented on the EU directive during a special session of the German Bundestags (Parliamentary) Committee on Foreign Affairs and the Defense Committee. Edelstein denounced the EU directive as “unfortunate” and complained that the EU provides fertile ground for the international Boycott Divestment Sanctions (BDS) campaign. Edelstein especially denounced measures such as economic and academic boycotts as “improper”. Israel has occupied large swaps of the Palestinian West Bank, East Jerusalem, the Syrian Golan Heights and the Lebanese Sheba Farm Area since the 1967 “six days war”. Israel continues the occupation in defiance of multiple UN resolutions as well as international and humanitarian law. Israel has officially stated that it plans to permanently annex the Syrian Golan Heights. Foreign Minister Avigdor Lieberman, for example, stated that Israel and the Golan are part and parcel, and that the international community should accept the annexation as a fact. It is noteworthy that there has been a discovery of major Syrian oil resources in the Golan Heights. Entrepreneurs with vested interests include the US-based Genie Energy. Members of the “think tank” are, among others, Dick Cheney, James Woolsey, Bill Richardson, Jacob Lord Rothschild, Rupert Murdoch, Larry Summers and Michael Steinhardt who all are members of the Strategic Advisory Board of a Newark, New Jersey-based oil and gas group with the name, Genie Energy.
  • Late November, Israeli Prime Minister Benjamin Netanyahu stated that Israel would not concede one meter of the occupied Palestinian West Bank’s Area C. Israel is providing support for the Syrian Al-Qaeda franchise Jabhat al-Nusrah and other jihadist mercenary forces via the occupied Syrian Golan Heights. Al-Nusrah insurgents are also known for using the Israeli occupied Lebanese Sheba Farms area to infiltrate into Lebanon, and especially Lebanon’s Bekaa Valley.
Paul Merrell

The Dying Dollar -- Paul Craig Roberts - PaulCraigRoberts.org - 0 views

www.paulcraigroberts.org/...ying-dollar-paul-craig-roberts

financial-collapse China U.S. reserve currrencies yuan dollar settlement currency

shared by Paul Merrell on 02 Dec 13 - No Cached
  • Since 2006, the US dollar has experienced a one-quarter to one-third drop in value to the Chinese yuan, depending on the choice of base.   Now China is going to let the dollar decline further in value.  China also says it is considering undermining the petrodollar by pricing oil futures on the Shanghai Futures Exchange in yuan. This on top of the growing avoidance of the dollar to settle trade imbalances means that the dollar’s role as reserve currency is coming to an end, which means the termination of the US as financial bully and financial imperialist.  This blow to the dollar in addition to the blows delivered by jobs offshoring and the uncovered bets in the gambling casino created by financial deregulation means that the US economy as we knew it is coming to an end. The US economy is already in shambles, with bond and stock markets propped up by massive and historically unprecedented Fed money printing pouring liquidity into financial asset prices.  This month at the IMF annual conference, former Treasury Secretary Larry Summers said that to achieve full employment in the US economy would require negative real interest rates.  Negative real interest rates could only be achieved by eliminating cash, moving to digital money that can only be kept in banks, and penalizing people for saving. The future is developing precisely as I have been predicting. As the dollar enters its death throes, the lawless Federal Reserve and the Wall Street criminals will increase their shorting of gold in the paper futures market, thereby driving the remnants of the West’s gold into Asian hands.
  • The People’s Bank of China said the country does not benefit any more from increases in its foreign-currency holdings, adding to signs policymakers will rein in dollar purchases that limit the yuan’s appreciation. “It’s no longer in China’s favor to accumulate foreign-exchange reserves,” Yi Gang, a deputy governor at the central bank, said in a speech organized by China Economists 50 Forum at Tsinghua University yesterday. The monetary authority will “basically” end normal intervention in the currency market and broaden the yuan’s daily trading range, Governor Zhou Xiaochuan wrote in an article in a guidebook explaining reforms outlined last week following a Communist Party meeting.
  • Paul Merrell on 02 Dec 13
     
    By Paul Craig Roberts
Paul Merrell

Biden Once Called Iraq One of Obama's 'Great Achievements' | The Weekly Standard - 0 views

www.weeklystandard.com/...-great-achievments_794909.html

war & peace Iraq ISIL Biden

shared by Paul Merrell on 13 Jun 14 - No Cached
  • As Iraq falls apart, it's worth remembering Vice President Joe Biden hailing that country as one of President Obama's "great achievements" in a 2010 interview with then CNN host Larry King:
  • "I am very optimistic about -- about Iraq. I mean, this could be one of the great achievements of this administration. You're going to see 90,000 American troops come marching home by the end of the summer. You're going to see a stable government in Iraq that is actually moving toward a representative government," said Biden. "I spent -- I've been there 17 times now. I go about every two months -- three months. I know every one of the major players in all of the segments of that society. It's impressed me. I've been impressed how they have been deciding to use the political process rather than guns to settle their differences."
Paul Merrell

The Western Alliance Is Crumbling: EU Is Abandoning U.S. on Overthrowing Assad | Global... - 0 views

www.globalresearch.ca/...5479566

war & peace Syria Russia Lebanon E.U. refugees TPP

shared by Paul Merrell on 04 Oct 15 - No Cached
  • Europe is being overrun by refugees from American bombing campaigns in Libya and Syria, which created a failed state in Libya, and which threaten to do the same in Syria. Europe is thus being forced to separate itself from endorsing the U.S. bombing campaign that focuses against the Syrian government forces of the secular Shiite Syrian President Bashar al-Assad, instead of against his fundamentalist Sunni Islamic opponents, the jihadist groups (all of which are Sunni), such as ISIS, and Al Qaeda in Syria (al-Nusra).
  • Russia announced on October 2nd that their bombing campaign against America’s allies in Syria — ISIS and Al Nusra (the latter being Al Qaeda in Syria) — will intensify and will last “three or four months.” U.S. President Barack Obama is insisting upon excluding Russia from any peace talks on Syria; the U.S. will not move forward with peace talks unless Syria’s President Bashar al-Assad first steps down. But Russia is the only serious military power against the jihadists who are trying to defeat Assad, and Russia is now committing itself also to providing Lebanon with weapons against the jihadists, who are America’s allies in Lebanon too.
  • That’s hardly the only ‘legacy’ issue for Obama — his war against Russia, via overthrowing Gaddafi, then Yanukovych, and his still trying to overthrow Assad — which is now forcing the break-up of the Western Alliance, over the resulting refugee-crisis. An even bigger such conflict within the Alliance concerns Obama’s proposed treaty with European states, the TTIP, which would give international corporations rights to sue national governments in non-appealable global private arbitration panels, the dictates from which will stand above any member-nation’s laws. Elected government officials will have no control over them. This supra-national mega-corporate effort by Obama is also part of his similar effort in his proposed TPP treaty with Asian nations, both of which are additionally aimed to isolate from international trade not just Russia, but China, so as to leave America’s large international corporations controlling virtually the entire world. As things now stand regarding these ‘trade’ deals, Obama will either need to eliminate some of his demands, or else the European Commission won’t be able to muster enough of its members to support Obama’s proposed treaty with the EU, the TTIP (Transatlantic Trade and Investment Partnership). Also, some key European nations might reject Obama’s proposed treaty on regulations regarding financial and other services: TISA (Trade In Services Agreement). All three of Obama’s proposed ‘trade’ deals, including the TPP (Trans-Pacific Partnership) between the U.S. and Asian countries, are the actual culmination of Obama’s Presidency, and they’re all about far more than just trade and economics. The main proposed deal with Europe might now be dead.
  • ...4 more annotations...
  • Thirdly, I am opposed to the signing of an agreement with a power that legalizes widespread and systematic spying on my fellow European citizens and European businesses. Edward Snowden’s revelations are instructive in this regard. As long as the agreement does not protect the personal data of European and US citizens, it cannot be signed. Fourth, the United States proposes a transatlantic common financial space, but they adamantly refuse a common regulation of finance, and they refuse to abolish systematic discrimination by the US financial markets against European financial services. They want to have their cake and eat it too: I object to the idea of a common area without common rules, and I reject commercial discrimination. Fifth, I object to the questioning of European health protections. Washington must understand once and for all that notwithstanding its insistence, we do not want our plates or animals treated with growth hormones nor products derived from GMOs, or chemical decontamination of meat, or of genetically modified seeds or non-therapeutic antibiotics in animal feed. Sixth, I object to the signing of an agreement if it does not include the end of the US monetary dumping. Since the abolition of the gold convertibility of the dollar and the transition to the system of floating exchange rates, the dollar is both American national currency and the main unit for exchange reserves in the world. The Federal Reserve then continually practices monetary dumping, by influencing the amount of dollars available to facilitate exports from the United States. China proposes to eliminate this unfair advantage by making “special drawing rights” of the IMF the new global reference currency. But as things now stand, America’s monetary weapon has the same effect as customs duties against every other nation. [And he will not sign unless it’s removed.]
  • On September 27th, France’s newspaper SouthWest featured an exclusive interview with Matthias Fekl, France’s Secretary of State for Foreign Trade, in which he said that “France is considering all options, including outright termination of negotiations” on the TTIP. He explained that, ever since the negotiations began in 2013, “These negotiations have been and are being conducted in a total lack of transparency,” and that France has, as of yet, received “no serious offer from the Americans.” The reasons for this stunning public rejection had probably already been accurately listed more than a year ago. After all, France has, throughout all of the negotiations, received “no serious offer from the Americans”; not now, and not back at the start of the negotiations in 2013. The U.S. has been steadfast. Jean Arthuis, a member of the European Parliament, and formerly France’s Minister of Economy and Finance, headlined in Le Figaro, on 10 April 2014, “7 good reasons to oppose the transatlantic treaty”. There is no indication that the situation has changed since then, as regards the basic demands that President Obama is making. Arthuis said at that time: First, I am opposed to private arbitration of disputes between States and businesses. [It would place corporate arbitrators above any nation’s laws and enable them to make unappealable decisions whenever a corporation sues a nation for alleged damages for alleged violations of its rights by that nation of the trade-treaty.] Such a procedure is strictly contrary to the idea that I have of the sovereignty of States. … Secondly, I am opposed to any questioning of the European system of appellations of origin. Tomorrow, according to the US proposal, there would be a non-binding register, and only for wines and spirits. Such a reform would kill many European local products, whose value is based on their certified origin.
  • Seventh, beyond the audiovisual sector alone, which is the current standard of government that serves as a loincloth to its cowardice on all other European interests in these negotiations, I want all the cultural exceptions prohibited. In particular, it is unacceptable to allow the emerging digital services in Europe to be swept up by US giants such as Google, Amazon or Netflix. They’re giant absolute masters in tax optimization, which make Europe a “digital colony.” President Obama’s negotiator is his close personal friend, Michael Froman, a man who is even trying to force Europe to reduce its fuel standards against global warming and whose back-room actions run exactly contrary to Obama’s public rhetoric. Froman and Obama have been buddies since they worked together as editors on Harvard Law Review. He knows what Obama’s real goals are. Also: “Froman introduced Mr. Obama to Robert E. Rubin, the former Treasury secretary,” who had brought into the Clinton Administration Timothy Geithner and Larry Summers, and had championed (along with them) the ending of the regulations on banks that the previous Democratic President, Franklin Delano Roosevelt, had put into place. (President Bill Clinton signed that legislation just as he left office, and this enabled the long process to occur with MBS securities and with financial derivatives, which culminated with the 2008 crash, and this same legislation also enabled the mega-banks to get bailed out by U.S. taxpayers for their crash — on exactly the basis that FDR had outlawed.)
  • Froman has always been a pro-mega-corporate, pro-mega-bank champion, who favors only regulations which benefit America’s super-rich, no regulations which benefit the public. Froman’s introducing the Wall Street king Robert Rubin to the then-Senator Obama was crucial to Obama’s becoming enabled to win the U.S. Presidency; Robert Rubin’s contacts among the super-rich were essential in order for that — Obama’s getting a real chance to win the Presidency — to happen. It enabled Obama to compete effectively against Hillary Clinton. Otherwise, he wouldn’t have been able to do that. His winning Robert Rubin’s support was crucial to his becoming President. The chances, that President Obama will now be able to get the support from any entity but the U.S. Congress for his proposed TTIP treaty with Europe, are reducing by the day. Europe seems to be less corrupt than is the United States, after all. The only independent economic analysis that has been done of the proposed TTIP finds that the only beneficiaries from it will be large international corporations, especially ones that are based in the United States. Workers, consumers, and everybody else, will lose from it, if it passes into law. Apparently, enough European officials care about that, so as to be able to block the deal. Or else: Obama will cede on all seven of the grounds for Europe’s saying no. At this late date, that seems extremely unlikely.
Paul Merrell

NSA phone program faces key court test | TheHill - 0 views

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surveillance state NSA Klayman litigation

shared by Paul Merrell on 03 Nov 14 - No Cached
  • The National Security Agency (NSA) is getting its day in court.On Tuesday, a closely watched case over the spy agency’s most controversial program heads to the D.C. Circuit Court of Appeals, considered the second most powerful federal bench in the country.ADVERTISEMENTAlong with other high-profile court cases challenging the constitutionality of the NSA’s spying, civil liberties advocates are sensing that the wind is at their backs, even as Congress has failed to push legislation past the finish line.  “We want [the court] to reach the constitutional issues because it has to be decided now, for the sake of the future,” said Larry Klayman, the conservative lawyer whose case against the Obama administration is before the Circuit court. “And all we’re really asking is that the NSA adhere to the law.”Klayman’s case challenges the constitutionality of the NSA’s bulk collection of Americans’ phone records, a program revealed by Edward Snowden last summer.
Paul Merrell

Appeals court clears hurdle for NSA | TheHill - 0 views

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surveillance state NSA litigation Klayman appeals

shared by Paul Merrell on 11 Nov 15 - No Cached
  • A federal appeals court Tuesday eliminated a possible roadblock for the National Security Agency (NSA), delaying a judge’s order to halt the agency's controversial data collection.The order from the U.S. Court of Appeals for the D.C. Circuit sets the NSA on a path to wind down its bulk gathering of Americans’ phone records later this month.ADVERTISEMENTOn Monday, Judge Richard Leon of the U.S. District Court for D.C. had sought to end the program immediately, before a Nov. 29 deadline. Leon’s order would have ended the NSA’s collection of records about one California lawyer, though doing that might have required taking the entire system offline, he acknowledged.Late Tuesday afternoon, however, the appeals court stepped in and issued a stay on that order, preventing it from taking effect. The move from the appeals court was widely expected, given that Leon's order would merely kill the program three weeks early.“The purpose of this administrative stay is to give the court sufficient opportunity to consider the merits of the motion for a stay,” it said in a brief order, “and should not be construed in any way as a ruling on the merits of that motion.”
  • Plaintiffs suing the Obama administration, led by conservative legal activist Larry Klayman, will have until noon Friday to submit arguments on whether the program should be shut down immediately. The government has until the following Monday. Few watchers expect the court to interfere with the NSA’s own schedule, which will take the phone records program offline Nov. 29.Under the current program, the spy agency collects metadata records about millions of Americans’ phone calls, which include the numbers involved in a call, when the call occurred and how long it lasted. The records do not include content about people’s conversations.This summer, Congress passed legislation ending the current system and forcing the NSA to move to a new process in which it requests a narrow set of records from individual phone companies.
  • On Monday, the agency told lawmakers on Capitol Hill that it has “successfully developed a technical architecture to support the new program” and that testing is “underway.”In his Monday order, Leon said that the NSA should not wait until the new system was up and running, since “even one day” of the current program poses a threat to the Constitution. 
  • Paul Merrell on 11 Nov 15
     
    So the Court of Appeals will sit on it until the end of the month and then rule that the case is moot. 
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