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Paul Merrell

9/11: Larry Silverstein Designed New WTC-7 One Year Before Attacks - 0 views

  • Larry Silverstein was caught admitting on camera that he planned to build an entirely new World Trade Center 7 (WTC-7) building one year before the 9/11 attacks had occurred.
  • Back in April 2000, one year and five months before the attacks, “Lucky Larry” held a meeting to discuss plans to replace building 7 in 2002.  As reported by Veterans Today: “We got the designs.  And the first design meeting was in April of 2000. And construction began shortly thereafter, in 2002.”
  • One slight problem: If he hadn’t been planning the illegal, un-permitted, homicidal demolitions of WTC-7 and the entire World Trade Center complex that took place on September 11th, 2001, there would have been no point to any such design meeting back in April, 2000 … and no opportunity for beginning construction of a new WTC-7 in 2002.
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  • With the supreme chutzpah that has become his trademark, Silverstein breezes over the demolitions of 9/11/2001 as if they were not even worth remarking on, instead going straight from his new-WTC-7 design meeting in April 2000 to the beginning of construction in 2002. In 2001, “Lucky Larry,” who had previously owned only WTC-7, orchestrated a deal with his fellow-ultra-Zionist Lewis Eisenberg, Chairman of the mobbed-up NY Port Authority, and another Zionist extremist billionaire, Frank Lowy, to sell the entire WTC complex to Silverstein and backers on a 100-year lease. The deal was finalized in July, 2001, and Larry took possession of the buildings … and security arrangements. But first, he hard-balled his insurers into doubling the terror insurance coverage and changing the terms to “instant cash payout.”
  • On September 11th, Larry hit the jackpot. The condemned-for-asbestos and largely vacant Twin Towers, with their obsolete communications infrastructure and money-hemorrhaging balance sheet, were both demolished for free – with 3,000 people inside.
  • Larry’s luck held out when he demanded double indemnity – on the basis that he had been “victimized” by two completely separate and unrelated terrorist attacks, namely the two planes – and got it, to the tune of 4. 5 billion dollars. That’s a hefty cash-payout return on a relatively minor investment. (Silverstein put up less than 15 million of his own money to buy the WTC, and his backers had added a little over 100 million.) Even after video proof emerged that he had confessed to “pulling” (i.e. demolishing) WTC-7, he still somehow evaded the hangman’s noose. Then he went back to court to ask for more than $10 billion more – this time not from his own insurers, but from those of the airlines he falsely blamed for the demolitions that he himself had conducted. But that didn’t stop not-quite-so-Lucky Larry from trying to steal another 500 million from the federal government through an EB-5 visa scam. Then last month, Larry’s inimitable chutzpah resurfaced when he said that his first thought on looking at the plans for the new South Tower was “it looks like it’s going to topple, it’s going to fall over.” At least if you “pull” on it hard enough, it might. Right, Larry? Larry’s chutzpah is so monumental that it became the basis of an annual award. Whatever will this unbelievable character do next?
  • Will someone finally arrest him? Will we ever see him swing from the gallows? Or will Lucky Larry’s luck hold out until he finally dies of natural causes, leaving his heirs billions of blood-stained dollars with which to conduct more outrageous Zionist mischief?
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    A year before 9-11, Larry Silverstein was just coming off a very big loss (from much larger deal than he had ever been able to finance before). He had no money. He was only a trip to the courthouse shy of being officially bankrupt. So he gets a 100-year-lease on the World Trade Center from the Port of New York. The then-existing buildings are mostly vacant and are in drastic need of a major asbestos removal. There are no prospects of paying off the loan, either over the short or mid-term, let alone turning a profit. But insure-and-burn seems to have been the business plan for a very quick and very large profit. Design for a new building to replace WTC-7 in the year before 9-11-200? Now can we get on to the folks who did the financing for the burn operation? Hint: It wasn't Osama bin Laden, who disavowed Al-Qaeda responsibility in the immediate aftermath. Another hint: It was the Israeli prime minister who first went public with the charge that Al-Qaeda was responsible.  
meheksharma

Zodiac Sign Daily Prediction - 13th Feb 2017 - 0 views

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    Know your day before you went out Aries Today is day of work for you. You can be busy and tied up with the work. This is a good day to start or take up any new work. Lucky No.s - 1 Lucky Colour - White Purchase of new things/Property/Signing of new contract - Yes
Gary Edwards

Why The Founding Fathers Would Want Obama's Plans to Fail: by Byron York - 0 views

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    James Madison was not specifically contemplating Barack Obama, or Nancy Pelosi, when he wrote Federalist No. 63. But reading the document - one of the seminal arguments in favor of adopting the U.S. Constitution - it's clear Madison knew their type. And he knew they would come along again and again in American history, if Americans were lucky enough to have a long history. Obama and Pelosi, along with their most ardent supporters, are the types to see a crisis, like our current economic mess, as a "great opportunity," as the president put it last Saturday. They are the types, after a long period out of power, to attempt to use that "great opportunity" to push through far-reaching changes in national policy that had only a tangential connection, if at all, to the crisis at hand. And they are the types the Founding Fathers wanted to stop. In the Federalist Papers, written 221 years ago, Madison addressed the need for a Senate to accompany the more populist House of Representatives. An upper body, he wrote, "may be sometimes necessary as a defense to the people against their own temporary errors and delusions."
Paul Merrell

Fellow soldiers call Bowe Bergdahl a deserter, not a hero - CNN.com - 0 views

  • The sense of pride expressed by officials of the Obama administration at the release of Army Sgt. Bowe Bergdahl is not shared by many of those who served with him: veterans and soldiers who call him a deserter whose "selfish act" ended up costing the lives of better men.
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    I've been disgusted with American mainstream media and our political class for a very long time. Every now and then I get super-disgusted.  I'll begin with the Obama Administration. They tried to make political hay with something that should not have been made public other than notifying the released American prisoners' parents before the prisoner had been debriefed. Moreover, while I have no problems with swapping Taliban prisoners to get the American prisoner back even if it meant not giving Congress the full 30-day notice required by statute, the Administration certainly could have done a better job of it, notifying key committee members earlier that the deal might be pulled off. Waiting until the Taliban prisoners were up to the steps of the airplane bound for the exchange was not the way this should have happened. Next up, we have the members of Congress who have done their level best to turn the situation into a partisan issue. Obama may have deserved criticism given that he tried to make political hay with the release. But prisoner swaps during wartime have been a feature of most U.S. wars. It is an ancient custom of war and procedures for doing so are even enshrined in the Geneva Conventions governing warfare. So far, I have not heard any war veteran member of Congress scream about releasing terrorists. During my 2+ years in a Viet Nam combat role, the thought of being captured was horrifying. Pilots shot down over North Viet Nam were the lucky ones. No American soldier captured in South Viet Nam was ever released. The enemy was fighting a guerrilla war in the South. They had no means to confine and care for prisoners. So captured American troops were questioned for intelligence and then killed.  Truth be told, American combat troops were prone to killing enemy who surrendered. War is a very ugly situation and feelings run high. It is perhaps a testament to the Taliban that they kept Sgt. Berdahl alive. Certainly that fact clashes irreconcilably with
Gary Edwards

Rumsfeldt's Missing Trillions, Stavridis and Unconventional War | nsnbc international - 0 views

  • One of these survivors is April Gallop. April Gallop would testify under oath in a two-hour-long, video-taped interview with Barbara Honegger who has conducted an in-depth investigation into the events at the Pentagon on September 11. April Gallop would state that a violent explosion near her desk in Wedge Two on Corridor Five, more than 100 ft north from the official narratives’ alleged plane impact point stopped her watch at 9:30.
  • Gallop would state the she saw fires coming out of computers. Barbara Honegger reports that other eyewitnesses, including Tracy Webb experienced such computer fires at the E Ring of Corridor Four.
  • The alleged plane impact happened at least eight minutes after massive explosions inside the Pentagon.
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  • Another clock from the Pentagon that is kept at the Smithsonian as well as photographic evidence prove that other clocks stopped due to explosions before the alleged plane impact. Barbara Honegger’s research would show that “something” struck the Pentagon from the outside too. That object, however, was not a jetliner and struck some 150 meters from the alleged jetliner impact site.
  • Donald Rumsfeldt’s war on waste would turn into the Global War on Terror and lead to the invasions of Afghanistan and Iraq. Information about the missing 2.3 trillion dollar was destroyed on September 11.
  • The document states that the United States, for the foreseeable future, would primarily be engaged in unconventional warfare. The document contains a structured approach to the subversion of targeted nation States, beginning with an assessment of a feasible and cooperative opposition, the creation of events to polarize society, the establishment of armed groups and their development into a fighting force that is capable of fighting a civil war or unconventional war under U.S. supervision to achieve U.S. foreign policy goals.
  • The TC 18-01 contains a de-facto blueprint for the United States’ and NATO’s involvement in Libya and Syria under the command of NATO SACEUR Stavridis. The TC 18-01 also represents a precise blueprint of the ongoing war in Iraq and the “crisis” in Ukraine.
  • Arguably, 2.3 trillion dollar are a seizable start-up budget for wars which have to be waged “off the books”.
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    "September 10, 2001. U.S. Secretary of Defense Donald Rumsfeldt stated that 2.3 trillion dollar from the Pentagon's annual budget could not be accounted for. September 11, 2001, the Pentagon's accounting office and the Naval Command Center were targeted, allegedly by a plane. Survivors would report about explosions inside the Pentagon prior to the alleged plane impact. During a 2012 Forestall Lecture , Admiral James G. Stavridis noted that he was working as a newly selected 1-star accounting officer at the Pentagon and that he was lucky to have survived. By 2009 Stavridis would have been promoted to the rank of Admiral and NATO's Supreme Allied Commander Europe. Responsible for NATO's 2011 military operations in Libya, Stavridis would describe NATO's intervention in Libya as "a teachable moment and model for future interventions". "
Gary Edwards

Corporate Media Ignores Hersh Story on Top Brass Providing Intel to Syria » I... - 2 views

  • Mr. Fisher might write a follow-up article explaining how Obama’s illegal and unconstitutional proxy war in Syria is the “highest act of treason in modern American history.”
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    "The United States planted the seeds of revolt through propaganda, led the demonstrations against Assad, helped arm and train the Islamic State, repeatedly pushed a false narrative to gain a pretext to invade, denied proper air support to those fighting the Islamic State, and will now capitalize on the murders committed by the Islamic State to achieve its goal of ousting Assad. They're so confident of success this time, there's a timeline for the new constitution. During all of this, over 300,000 people died and 6 million more were displaced. There will be more death and destruction. Unless, of course, Assad voluntarily steps down and allows Syria to become another US colony, which is highly unlikely. The horrible part of this is that despite warnings, the American people did nothing. We've been had, but we're the lucky ones. We're still alive."
Gary Edwards

Doug Casey on American Socialism - Casey Research - 0 views

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    "Doug Casey on American Socialism"  .  Awesome interview, especially the discussion on Liberalism and how the socialist Norman Thomas decided to co-opt the term as an effective replacement for the disreputable socialism.  Links to the Thomas 1932 socialist platform that Casey points out has pretty much been put into place.   Good discussion.  Focus on an article published by socialist apologist and idiot, Allan Colmes.
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    I agree that Colmes is far from the sharpest knife in the drawer. In my opinion, he was largely a Fox News invention to give Shawn Hannity a far weaker opponent to argue against that Hannity's idiocy could still overcome. There are in reality liberals that Hannity could never have gone toe-to-toe with. (That's not an endorsement of liberalism; it's commentary on the quality of Hannity's arguments.) The show was mostly a variant of the straw man logical fallacy; the fact that Colmes lacked the ability to think critically or communicate effectively made Hannity "win" the pseudo-debate in the eyes of those unable to think critically themselves. I have some criticism of Casey's remarks that apply more generally to my experience of strict Libertarians and perhaps even farther to strict adherents to any "ism." My criticism boils down to a couple of examples of hard issues usually avoided by strict Libertarians. -- The Disabled: When discussing Social Security disability benefits, Casey changes the subject from the genuinely disabled to a short rant about those whose disability claims are bogus and the "ambulance chasing" lawyers who pursue their claims. But if pressed to the wall and forced to answer, I strongly suspect that Casey would admit that there are people, likely the majority of Social Security disability benefits, whose claims are genuine. The net effect of his relevant argument: an impression that he has a Darwinian view that he would leave the disabled dying in the streets without sustenance or medical care. That kind of society is unacceptable to me. Perhaps it is to Casey too, but if so I think it was incumbent on him to offer a solution for the genuinely disabled. (In fairness, I'll note that at one point Casey hinted but did not forthrightly say that he would favor financial assistance for single mothers in Harlem.) -- Medical Care: I agree that our health care system is badly broken. But again Casey is long on criticism but short on realistic idea
Paul Merrell

No Lone Wolf Shooting? Reported Multiple Orlando Gunmen | Global Research - Centre for ... - 0 views

  • Whether true or not awaits credible evidence proving it. A previous article called it highly unlikely for one gunman to kill or injure over 100 victims singlehandedly before SWAT police stopped him. Orlando shootings bore distinct earmarks of state-sponsored false flag deception, not terrorism as widely reported.  A Sunday Facebook posting, now deleted, by a man named Cody Agnew, claimed “bits of information that the media are not telling us. There were two others that were in the club slaughtering people last night that were not caught.” He said his “employee’s sister…was at the club when the whole situation went down… She took 12 bullets…She is coherent, fairly stable, and VERY lucky to still be alive.” “(T)wo others (involved) are still out there and they are armed and dangerous. The media (are) not reporting this because they don’t want to scare people…”
Paul Merrell

M of A - "Dramatic Rescue! Man With Kid Runs Towards Camera!" - 44 Staged Pictures - 0 views

  • A man with a kid in arm runs towards the camera. The kid's face is heavily colored, but it looks otherwise fine. On the lower left we see the back of a man with a "White Helmets" logo on his vest. Dust in the background. Always dust or smoke. A bunch of men looking very busy but are they actually doing anything? That would be a lucky by-chance photo shot for any normal photographer. Even in country where rubble from a fresh bombing may be around some near corner. But this is a typical "White Helmets rescue kid" propaganda picture. The photo above is, except for maybe the old rubble, likely completely staged. There the 43 similar pictures below the fold to demonstrate that. Just ask yourself: Could all these very similar by-chance pics, taken within about a year, be real? Really?
  • The pictures above all look astonishingly similar: rubble, dust or rather haze from a smoke grenade in the background, dusted/greasepaint bloody kids who have no visible trauma, the rescuer with the kid moving towards the camera. Dramatic, high quality scenes which do get distributed by news agencies and published again and again by major "western" media. Isn't it an amazing fortune that so many kids get rescued alive by the "White Helmets", without any serious wounds visible, just moments after bomb impacts? This week after week? With all the same attributes in each picture? No photo editor at any of the big media ever wondered about that? These staged photos are part of the war propaganda against the Syrian people and their government. The "White Helmets" take and distribute these photos. They also distribute lots of "kids rescued from rubble" videos. We wrote about those a month ago: Other typical features of these movies, see this one, are smoke (grenades) in the streets, dramatic but small open fires nearby, dust or some red color on the children's face or arms. The camera is often used in a hectic, intentionally amateurish first person view, a style extensively developed in the 1999 horror clip Blair Witch Project. Sometimes sounds of additional "bomb impact" bangs or screaming/wailing women are added. The "White Helmets" are part of the (anti-)Syria Campaign. "Kid rescued from rubble" is their standard shtick. They are financed with some $60+ million from your taxes by the U.S., the UK and other governments. Such money will buy a lot of good cameras and props and will pay for many actors and extras.
  • The Syria Campaign was created by Purpose Campaigns LLC. The company fabricates and runs for you any world-wide "grass root" movement you would like. With Purpose LLC or other such companies involved, big dollars will buy you big effects. How about an automated Twitter campaign to spread anti-Shia sectarianism? Someone paid for it and here it is. The "White Helmets" campaign demonstrates the amazing manipulation potential such companies and their high paying customers have.
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    A U.S.-U.K. propaganda front operating behind ISIL and al-Nusrah lines. See also: http://www.moonofalabama.org/2016/06/gallery-dramatic-rescue-man-with-kid-runs-towards-camera-43-staged-pictures.html#c6a00d8341c640e53ef01b8d1fb87c3970c amd https://www.youtube.com/watch?v=5k6hSS6xBTw&feature=youtu.be The U.S. State Department admits to providing $23 million to this group operating behind al-Nusrah and ISIL lines. 
Paul Merrell

Asia Times Online :: Russia 1, Regime Changers 0 - 0 views

  • Let's cut to the chase - short and sweet. 1. The Obama administration's "strategic" gambit to subcontract the State Department's "Khaganate of Nulands" to extricate Ukraine from the Russian sphere of influence - and ultimately annex it to NATO - by instrumentalizing a coalition of willing neo-nazis and fascists with a central bank veneer (prime minister "Yats"), is in utter shambles. 2. Moscow's counterpunch was to prevent in Crimea - as intercepted by Russian intelligence - a planned replay of the putsch in Kiev. The referendum in Crimea - 85% of turnout, roughly 93% voting for re-joining Russia, according to exit polls - is a done deal, as much as the oh-so-democratic European Union (EU) keeps threatening to punish people in Crimea for exercising their basic democratic rights. (By the way, when the US got <a href='http://asianmedia.com/GAAN/www/delivery/ck.php?n=a9473bc7&cb=%n' target='_blank'><img src='http://asianmedia.com/GAAN/www/delivery/avw.php?zoneid=36&cb=%n&n=a9473bc7&ct0=%c' border='0' alt='' ></a> Kosovo to secede from Serbia, Serbians were offered no referendum). 3. The main rationale for the whole US "strategic" advance - to have their proxies, the regime changers in Kiev, cancel the agreement for the Russian naval base in Sevastopol - is up in smoke. Moscow remains present in the Black Sea and with full access to the Eastern Mediterranean. And the rest is blah blah blah.
  • In a nutshell; Moscow called Washington's bluff - and won.
  • And yet, Western hysteria of course will persist unabated. In the US, where it matters, the meme of the subsequent days will be, inevitably, who lost Syria and who lost Ukraine. Here's the record. Dubya launched two wars. He (miserably) lost both. Obama attempted to launch two wars (Syria and Ukraine). He - lucky for him - lost both even at the "attempt" stage. Assorted neo-cons and the whole exceptionalist brigade are predictably livid. Expect the editorial page of the Wall Street Journal to go ballistic. And expect US ambassador to the UN Samantha "R2P" Power to wish she were Sinead O'Connor singing Nothing Compares to You
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    Pepe Escobar's take on Obama betraying the U.S. War Party in regard to the Ukraine.
Paul Merrell

Tomgram: Todd Miller, The Creation of a Border Security State | TomDispatch - 0 views

  • Sometimes you really do need a map if you want to know where you are.  In 2008, the ACLU issued just such a map of this country and it’s like nothing ever seen before.  Titled “the Constitution-Free Zone of the United States,” it traces our country’s borders.  Maybe you’re already tuning out.  After all, you probably don’t think you live on or near such a border.  Well, think again.  As it happens, in our brave, new, post-9/11 world, as long as we’re talking “homeland security” or “war on terror,” anything can be redefined.  So why not a border? Our borders have, conveniently enough, long been Constitution-free zones where more or less anything goes, including warrantless searches of various sorts.  In the twenty-first century, however, the border itself, north as well as south, has not only been increasingly up-armored, but redefined as a 100-mile-wide strip around the United States (and Alaska).  In other words -- check that map again -- our “borders” now cover an expanse in which nearly 200 million Americans, or two-thirds of the U.S. population, live.  Included are nine of the 10 largest metropolitan areas.  If you live in Florida, Maine, or Michigan, for example, no matter how far inland you may be, you are “on the border.”
  • Imagine that.  And then imagine what it means.  U.S. Customs and Border Protection, as Todd Miller points out today, is not only the largest law enforcement agency in the country you know next to nothing about, but the largest, flat and simple.  Now, its agents can act as if the Constitution has been put to bed up to 100 miles inland anywhere.  This, in turn, means -- as the ACLU has written -- that at new checkpoints and elsewhere in areas no American would once have considered borderlands, you can be stopped, interrogated, and searched “on an everyday basis with absolutely no suspicion of wrongdoing.” Under the circumstances, it’s startling that, since the ACLU made its case back in 2008, this new American reality has gotten remarkably little attention.  So it’s lucky that TomDispatch regular Miller's invaluable and gripping book, Border Patrol Nation: Dispatches from the Front Lines of Homeland Security, has just been published.  It’s an eye opener, and it’s about time that “border” issues stopped being left to those on the old-fashioned version of the border and immigration mavens.  It’s a subject that, by definition, now concerns at least two-thirds of us in a big way.
  • Border Security Expo 2014 catches in one confined space the expansiveness of a “booming” border market. If you include “cross-border terrorism, cyber crime, piracy, [the] drug trade, human trafficking, internal dissent, and separatist movements,” all “driving factor[s] for the homeland security market,” by 2018 it could reach $544 billion globally. It is here that U.S. Homeland Security officials, local law enforcement, and border forces from all over the world talk contracts with private industry representatives, exhibit their techno-optimism, and begin to hammer out a future of ever more hardened, up-armored national and international boundaries. The global video surveillance market alone is expected to be a $40 billion industry by 2020, almost three times its $13.5 billion value in 2013. According to projections, 2020 border surveillance cameras will be capturing 3.4 trillion video hours globally. In case you were wondering, that’s more than 340 million years of video footage if you were watching 24 hours a day.
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  • It is in the U.S. borderlands that, as anthropologist Josiah Heyman once wrote, the U.S. government’s modern expertise in creating and tracking "a marked population” was first developed and practiced. It involved, he wrote prophetically, “the birth and development of a... means of domination, born of the mating between moral panics about foreigners and drugs, and a well-funded and expert bureaucracy.” You may not be able to watch them at the Border Security Expo, but in those borderlands -- make no bones about it -- the Department of Homeland Security, with its tripartite missions of drug interdiction, immigration enforcement, and the war on terror, is watching you, whoever you are. And make no bones about this either: our borders are widening and the zones in which the watchers are increasingly free to do whatever they want are growing.
  • In March, U.S. Customs and Border Protection (CBP) awarded a $145 million contract to that Israeli company through its U.S. division. Elbit Systems prides itself on having spent “10+ years securing the world’s most challenging borders,” above all deploying similar “border protection systems” to the separation wall between Israel and Palestine. It is now poised to enter U.S. indigenous lands.
  • Now, thanks to the Elbit Systems contract, a new kind of border will continue to be added to this layering.  Imagine part of the futuristic Phoenix exhibition hall leaving Border Expo with the goal of incorporating itself into the lands of a people who were living here before there was a “New World,” no less a United States or a Border Patrol. Though this is increasingly the reality from Brownsville, Texas, to San Diego, California, on Tohono O’odham land a post-9/11 war posture shades uncomfortably into the leftovers from a nineteenth century Indian war.  Think of it as the place where the homeland security state meets its older compatriot, Manifest Destiny.
Paul Merrell

Tomgram: Laura Gottesdiener, Security vs. Securities | TomDispatch - 0 views

  • I live in Washington, D.C.'s Capitol Hill neighborhood. I can more or less roll out of bed into the House of Representatives or the Senate; the majestic Library of Congress doubles as my local branch. (If you visit, spend a sunset on the steps of the library's Jefferson Building. Trust me.) You can't miss my place, three stories of brick painted Big Bird yellow. It's a charming little corner of the city. Each fall, the trees outside my window shake their leaves and carpet the street in gold. Nora Ephron, if she were alive, might've shot a scene for her latest movie in one of the lush green parks that bookend my block. The neighborhood wasn't always so nice. A few years back, during a reporting trip to China, I met an American consultant who had known Capitol Hill in a darker era. "I was driving up the street one time," he told me, "and walking in the opposite direction was this huge guy carrying an assault rifle. Broad daylight, no one even noticed. That's what kind of neighborhood it was." Nowadays, row houses around me sell for $1 million or more. I rent.
  • Washington's a fun place to live if you're young and employed. But as a recent Washington Post story pointed out, the nation's capital is slowly pricing out even its yuppies who, in their late-twenties and early-thirties, want to start families but can't afford it. "I hate to say it, but the facts show that the D.C. market is for people who are single and relatively affluent," a real estate researcher told the Post. The District's housing boom just won't stop; off go those new and expecting parents to the suburbs. And we're talking about the lucky ones. Elsewhere in the country, vulnerability in the housing market isn't a trend story; it's the norm. The Cedillo family, as Laura Gottesdiener writes today, went looking for their version of the American housing dream and thought they found it in Chandler, Arizona. They didn't know that the house they chose to rent rested on a shaky foundation -- not physically but financially. It had been one of thousands snapped up and rented out by massive investment firms making a killing in the wake of the housing collapse. As Gottesdiener -- who has put the new rental empires of private equity firms on the map for TomDispatch -- shows, the goal of such companies is to squeeze every dime of profit from their properties, from homes like the Cedillos', and that can lead to tragedy.
  • Drowning in Profits A Private Equity Firm, a Missing Pool Fence, and the Price of a Child’s Death By Laura Gottesdiener
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  • Security is a slippery idea these days -- especially when it comes to homes and neighborhoods. Perhaps the most controversial development in America’s housing “recovery” is the role played by large private equity firms. In recent years, they have bought up more than 200,000 mostly foreclosed houses nationwide and turned them into rental empires. In the finance and real estate worlds, this development has won praise for helping to raise home values and creating a new financial product known as a “rental-backed security.” Many economists and housing advocates, however, have blasted this new model as a way for Wall Street to capitalize on an economic crisis by essentially pushing families out of their homes, then turning around and renting those houses back to them. Caught in the crosshairs are tens of thousands of families now living in these private equity-owned homes.
  • The same month that the family rented the house at 1471 West Camino Court, Progress Residential purchased more homes in Maricopa Country than any other institutional buyer. Nationally, Blackstone, a private equity giant, has been the leading purchaser of single-family homes, spending upwards of $8 billion between 2012 and 2014 to purchase 43,000 homes in about a dozen cities. However, in May 2013, according to Michael Orr, director of the Center for Real Estate Theory and Practice at the W. P. Carey School of Business at Arizona State University, Progress Residential bought nearly 200 houses, surpassing Blackstone's buying rate that month in the Phoenix area. The condition and code compliance of these houses varies and is rarely known at the time of the purchase. Mike Anderson, who works for a bidding service contracted by Progress Residential and other private equity giants to buy houses at auctions, was sometimes asked to go out and look at the homes. But with the staggering buying rate -- up to 15 houses a day at the peak -- he couldn’t keep up. “There’d be too many, you couldn’t go out and look at them,” he said. “It’s just a gamble. You never know what you’ve got into.”
  • Global private equity firms have not been, historically, in the business of dealing with pool fences and the other hassles of maintaining single-family houses. But following the housing market collapse, the idea of buying a ton of these foreclosed properties suddenly made sense, at least to investors. Such private-equity purchases were to make money in three ways: buying cheap and waiting for the houses to gain value as the market bounced back; renting them out and collecting monthly rental payments; and promoting a financial product known as “rental-backed securities,” similar to the infamous mortgage-backed securities that triggered the housing meltdown of 2007-2008. Even though the buying of the private equity firms has finally slowed, economists (including those at the Federal Reserve) have expressed concern about the possibility that someday those rental-backed securities could even destabilize -- translation: crash -- the broader market.
  • ince Wall Street was overwhelmingly responsible for the original collapse of the housing market, many have characterized these new purchases as a land grab. In many ways, Progress CEO Donald Mullen is the poster-child for this argument. An investment banker who enjoyed a brief flurry of fame after losing a bidding war to Alec Baldwin at an art auction, he was the leader of a team at Goldman Sachs that orchestrated an infamous bet against the housing market. Known as “the big short,” it allowed that company to make “some serious money“ when the economy melted down, according to Mullen’s own emails. (They were released by the Senate Permanent Subcommittee on Investigations in 2010.) As Kevin Roose of New York magazine has written, “A guy whose most famous trade was a successful bet on the full-scale implosion of the housing market is now swooping in to pick up the pieces on the other end.”
webmasterrk

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webmasterrk

SATTA MATKA,KALYAN MATKA,SATTA MASTER MIND GAME,FASTEST MATKA RESULT - 0 views

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    SATTA MATKA KALYAN MATKA & FASTEST MATKA RESULT,INDIAN MATKA,MATKA,MAIN MUMBAI MATKA,MATKA CHARTS,SATTAMATKA GUESSING,MATKA MASTER GAME
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    SATTA MATKA KALYAN MATKA & FASTEST MATKA RESULT,INDIAN MATKA,MATKA,MAIN MUMBAI MATKA,MATKA CHARTS,SATTAMATKA GUESSING,MATKA MASTER GAME
Paul Merrell

More Phantom Jobs Created-All In The Wrong Places - 0 views

  • Education is not the answer By Paul Craig Roberts June 07, 2014 "ICH" -  Last April I saw a report that 83% of May’s college graduates did not have a job. I remarked that in my day most of us had 2 or 3 job or graduate school offers before we graduated. The latest payroll jobs report issued on June 6 proves that the April report was true. My opinion, schooled in part by John Williams’ very precise reports on Shadowstats.com, is that on average about half of the new jobs each month are phantom jobs created by the birth-death model and inappropriate seasonal adjustments. So, I figured that the 217,000 jobs claimed for May are more like 108,000. Then I read John Williams’ report on the May jobs number: “Monthly payroll gains overstated by 200,000 plus jobs” In other words, there were zero new jobs in May.
  • Just as the US government can turn an inconsequential Iraq, Afghanistan, Libya, and Syria into dangerous threats against “the world’s only superpower,” the US government can turn zero jobs growth into 217,000 jobs. It is easy when you have a prostitute media and a gullible public, both of which Washington most certainly has. But let’s take the government data at face value. First, consider the news report that finally as of May 2014 as many Americans had jobs as had jobs in January 2008. That might seem like good news until you take into account that since January 2008 the US has experienced 6.5 years of population growth. Economists seem to have settled on population growth adding 129,000 people to the work force each month. That comes to 10,000,000 people. Where are their jobs? The “jobs recovery” doesn’t provide for the 10 millions who have come of working age since January 2008. We can conclude from this that the official 6.3 percent unemployment rate is nonsense. The unemployment rate is in the neighborhood of 23 percent as John Williams has established.
  • Just as the US government claims, falsely, that Russia invaded Ukraine and annexed Crimea, that Saddam Hussein had weapons of mass destruction, that Assad used chemical weapons on Syrians, and so forth and so on, the 6.3 percent unemployment rate is just another government lie. Second, consider where the claimed 217,000 May jobs are. Hardly any of these claimed jobs are jobs in which university graduates begin their careers. The jobs are in wholesale trade, retail clerks, transportation and warehousing, employment services and temporary help, waitresses and bartenders, and health care and social assistance. In the later category, ambulatory health care services and social assistance account for the majority of jobs. If college graduates have jobs, they are not the jobs for which they studied. On March 31, CNN Money reported that 260,000 college graduates were employed at or below the federal minimum wage of $7.25 per hour.
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  • For the many years that I have been reporting on the jobs statistics, there has been scant sign of any jobs for college graduates. Considering that there are at least 3,100 colleges and universities in the US, the May graduating class must number in the hundreds of thousands. Looking at the May jobs statistics, those graduating from law school face a dismal situation as employment of lawyers dropped by 700. There were jobs for only 4,100 accountants and bookkeepers. There were 4,500 jobs for architects and engineers, a number that includes secretaries and office managers. There were 1,800 management jobs. State government education jobs declined by 5,300 and local government education jobs declined by 6,600 jobs. So where did the education majors find employment? How is the second quarter going to come roaring back, as the financial media assures us it will, when the jobs report is so discouraging? How much longer will Washington be able to hide the fact that the US economy is sinking?
  • If you read all the bullshit that the American media and educational establishment puts out, “education is the answer.” Apparently not. Education is the way to become deeply in debt and work for $7.25 per hour, if you are lucky to escape unemployment. America is a Great Big Lie. There is no truth in what we are told. The entire country, along with that part of the world under Washington’s thumb, is run for about six private interest groups. The rest of us are being fleeced.
Paul Merrell

Netanyahu's Coalition of the Unwilling « LobeLog - 0 views

  • After Benjamin Netanyahu’s surprising victory in Israel’s national elections in March, he took until the last possible minute to complete the process of forming the government for his fourth term as Israel’s prime minister. For all the time he invested, despite making it just under the wire, Netanyahu ended up with a fragile, ultra-right-wing coalition and more work ahead of him to bring in at least one more party. The government Netanyahu presented to Israeli President Reuven Rivlin was a bare majority of 61 seats out of the 120-seat Knesset. There are no fig leafs in this coalition, no Tzipi Livni or Ehud Barak for Netanyahu to send to talk fruitlessly with the Palestinians. One might think this would make the coalition more stable, since it consists entirely of the right wing. In this, one would be wrong.
  • Netanyahu is, in fact, desperate to add another party to the coalition because there is so much tension in the current majority, most visibly between Netanyahu’s Likud party and Naftali Bennett’s HaBayit HaYehudi. Likud leaders, including Netanyahu, feel that Bennett essentially held the coalition hostage to his demands. They are quite right about that, but the gambit paid off handsomely for Bennett. HaBayit HaYehudi holds a mere eight seats in the Knesset. Yet Bennett and his party will get four ministries, the deputy defense minister post, as well as the chairs of two key Knesset committees dealing with Israel’s legal system. That is what you get when you play hardball with Netanyahu, a man who likes to talk tough but who is a political creature first and foremost and quickly backs off from a high-stakes fight he is not sure he can win. As things stand, this coalition might not last the year. That is why, after Avigdor Lieberman quit his post as foreign minister and took his greatly diminished party into the opposition, Netanyahu left the post open by keeping that portfolio for himself. In reality, Netanyahu has been the foreign minister all along, so it is not an added burden for him.
  • On the day that Netanyahu was supposed to present his government, he was still eight seats short of a majority. Luckily for Bennett, that was the exact number of seats he controlled and he let Netanyahu know just how lucky he was. Bennett played a game of chicken with Netanyahu, pushing for more and more power within the government and knowing that Bibi was going to have a hard time saying no to anything. Bennett won, and the spoils were vast. The far-right HaBayit HaYehudi party now controls the ministries of education, agriculture, justice, and diaspora affairs. The position of deputy defense minister will also be theirs. It is even worse than it sounds. With the ministry of agriculture comes control over the World Zionist Organization’s Settlement Division, which funds the expansion of settlements. Uri Ariel, perhaps the most extreme pro-settler member of the Knesset, will have that portfolio.
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  • Shaked is certain to work hard to undermine Israel’s fragile legal system. She will also be heading the powerful Ministerial Committee for Legislation and the Judicial Appointments Committee, giving her even more leverage to eliminate a legal system that she sees as a bastion of the left. Moreover, she is very likely to be minister of justice when the next attorney general is appointed. Uri Ariel can be equally certain to press hard for as much settlement expansion—all over the West Bank and, especially, in East Jerusalem—as the available shekels and the defense minister, who will still be Moshe Ya’alon, will allow. I would rather not even think about what Bennett, the new minister of education, is going to do to the minds of Israeli students. Academia is also thought of as a bastion of the left in Israel, and the climate for free thought in Israeli institutions is certainly threatened now.
  • A Question of Longevity The real question about all of this is how long it will last. An ultra-right government like this one is not going to get along well with the Obama administration or most of Europe, although the Republican-led Congress is likely to fall in love with it. Some may hope that this will be a case of things getting so bad that political pressure for improvement must come. Sadly, such is not the history of Israel or of this conflict. Netanyahu will be spending the next few months trying to woo Isaac Herzog into the government, and this is what the whole game comes down to. If Herzog joins and creates a national unity government of 85 seats, this government will survive. The Labor Party, which makes up most of the Zionist Union, is unlikely to provide much of a counter to the right-wing majority. Much more likely is that, as has happened in the past, many of Labor’s Knesset members and other leaders will bolt the party rather than serve as a fig leaf for such a far-right government.
  • If Herzog does not join the government, this fourth Netanyahu government will not outlast Barack Obama’s presidency, and might not even come close. The right wing does not play well together, and it will take nothing more than a few well-timed votes of no-confidence to take down this government even if none of the parties bolts. Even that scenario, however, offers little hope. The last elections were hailed as a comeback for Labor, but the center and left still cannot form a coalition without the Joint List (a coalition of mostly Arab parties), and that remains anathema in Israeli politics. In fact, little changed in the left-right balance in the last elections, and that is showing no signs of turning around. It has never been clearer that positive change in Israel is going to require some sort of meaningful action by the United States and/or Europe. If that does not come, and it does not seem to be on the horizon, disaster looms.
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    The dust settles quickly in Israel. Already -- -- A bill is moving through the Knesset and is expected to pass, permanently annexing the entire Jordan Valley and the Syrian Golan Heights.   --  The Israeli military is conducting large-scale maneuvers in the West Bank. Palestinians are seeing it as prelude to a mass eviction of Palestinians from the Jordan Valley.   -- A large section of East Jerusalem has been walled off with an iron gate, prelude to annexation and expulsion of its Palestinian residents. -- Netanyahu is so desperate for posts to offer another party in the national government that he has introduced legislation in the Knesset which would suspend, until the next government is formed, the limit on the number of cabinet ministers and deputy ministers and to allow ministers without portfolio. The centrist Yesh Atid party has served notice of intent to sue to block the legislation.  
Paul Merrell

IETF Begins To Work On Designing A Surveillance-Resistant Net | Techdirt - 0 views

  • Edward Snowden's leaks show that the NSA and GCHQ have been systematically subverting key technologies that underlie the Internet. That betrayal of trust has prompted some soul-searching by the Net engineering community, which realizes that it needs to come up with more surveillance-resistant approaches. This story from Radio Netherlands Worldwide (RNW) provides information about the kind of thing they are working on in one key group, the Internet Engineering Task Force (IETF). It reports on a speech given by the IETF's chair, Jari Arkko, at the recent Internet Governance Forum in Bali, Indonesia.
  • Firstly, the IETF wants to eventually apply encryption to all web traffic. "Today, security only gets switched on for certain services like banking," Arkko explained, referring to IETF-developed standards like SSL -- the little lock that appears in the upper left corner of your browser to secure online purchases. "If we work hard, we can make [the entire internet] secure by default." To this end, the IETF might make encryption mandatory for HTTP 2.0, a new version of the basic web protocol. Secondly, the IETF plans to remove weak algorithms and strengthen existing algorithms behind encryption. This means that the US National Security Agency and other surveillors will find it harder to crack current forms of encryption.
  • Putting that in context, Axl Pavlik, the managing director of Europe's Internet Registry (RIPE NCC), notes that you can never stop surveillance completely, but you can make it more expensive: "You and I have limited resources, and the surveillor has limited resources -- maybe more than we have -- but if millions of users of the internet raise the bar a little bit, the requirements to surveil every little bit of internet traffic would be much higher," he explained to RNW. Mandatory use of encryption helps do that. And here's another good reason for adopting it: The IETF's plans also benefit people who are already encrypting their online activities themselves, argued Marco Hogewoning, technical adviser to RIPE NCC. According to him, these people currently stick out like a sore thumb to the very surveillors they hope to evade.
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  • He has a great analogy: "If you see an armoured car now on the street, you know there must be something valuable inside," Hogewoning explained. "If everybody drives around in an armoured car, I can go around and put a lot of effort into breaking into each and every car, and hope I get lucky and find something valuable inside, but it might be empty. If everybody encrypts everything, all you can see is armoured cars." However, valuable as these moves will be in raising the cost of surveillance, there is always the problem of the endpoints: While the IETF might be able to secure the pipes through which users' data travel, users must also be able to trust the parties where their data is stored: software, hardware and services such as Cisco, Gmail and Facebook. These parties can hand over user data directly to government agencies. To address that, technical improvements aren't enough -- we need political solutions, too. Unfortunately, those are rather more difficult to engineer.
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    Oh, goody some more!
Gary Edwards

Obama and 'Redistributive Change' - Victor Davis Hanson - National Review Online - 1 views

  • in the president’s own language, the government must equalize the circumstances of the “waitress” with those of the “lucky.” It is thus a fitting and proper role of the new federal government to rectify imbalances of compensation — at least for those outside the anointed Guardian class.
  • In a 2001 interview Obama in fact outlined the desirable political circumstances that would lead government to enforce equality of results when he elaborated on what he called an “actual coalition of powers through which you bring about redistributive change.”
  • Instead, the notion that the state will assume control, in Canada-like fashion, and level the health-care playing field was the real concern. “They” (the few) will now have the same care as “we” (the many). Whether the result is worse or better for everyone involved is extraneous, since sameness is the overarching principle
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  • The president believes that a select group of affluent, highly educated technocrats — cosmopolitan, noble-minded, and properly progressive — supported by a phalanx of whiz-kids fresh out of blue-chip universities with little or no experience in the marketplace, can direct our lives far better than we can ourselves. By “better” I do not mean in a fashion that, measured by disinterested criteria, makes us necessarily wealthier, happier, more productive, or freer.
  • equality-of-results thinking
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    When radical leaders over the last 2,500 years have sought to enforce equality of results, their prescriptions were usually predictable: redistribution of property; cancellation of debts; incentives to bring out the vote and increase political participation among the poor; stigmatizing of the wealthy, whether through the extreme measure of ostracism or the more mundane forced liturgies; use of the court system to even the playing field by targeting the more prominent citizens; radical growth in government and government employment; the use of state employees as defenders of the egalitarian faith; bread-and-circus entitlements; inflation of the currency and greater national debt to lessen the power of accumulated capital; and radical sloganeering about reactionary enemies of the new state. The modern versions of much of the above already seem to be guiding the Obama administration - evident each time we hear of another proposal to make it easier to renounce personal debt; federal action to curtail property or water rights; efforts to make voter registration and vote casting easier; radically higher taxes on the top 5 percent; takeover of private business; expansion of the federal government and an increase in government employees; or massive inflationary borrowing. The current class-warfare "them/us" rhetoric was predictable. Usually such ideologies do not take hold in America, given its tradition of liberty, frontier self-reliance, and emphasis on personal freedom rather than mandated fraternity and egalitarianism. At times, however, the stars line up, when a national catastrophe, like war or depression, coincides with the appearance of an unusually gifted, highly polished, and eloquent populist. But the anointed one must be savvy enough to run first as a centrist in order later to govern as a statist.
Paul Merrell

After almost 13 years, it's time to end Congress' blanket authorization of force | Wash... - 0 views

  • t may sound hard to believe, but Senate Majority Leader Harry Reid, D-Nev., isn't always wrong -- at least when he states the obvious: “9/11 is a long time ago,” he said Wednesday, “and it's something that needs to be looked at again.” The “it” is the post-9/11 Authorization for Use of Military Force resolution, or AUMF, adopted three days after the terror attacks, and now going on its lucky 13th year. It's been in effect nearly twice as long as the Gulf of Tonkin resolution authorizing Vietnam, what was “America's Longest War” -- until the 21st century, that is.
  • On Sept. 14, 2001, Congress authorized the president to use “all necessary and appropriate force” against the perpetrators of the 9/11 attacks and those who “harbored” them. Two successive administrations have since turned the 60 words of the AUMF's operative clause into what journalist Gregory Johnsen calls “the most dangerous sentence in U.S. history” -- a writ for a war without temporal or spatial limits. The last time the Senate held hearings on the AUMF, Sen. Lindsey Graham, R-S.C., asked the Pentagon's civilian special operations chief, Michael Sheehan, “does [the president] have the authority to put boots on the ground in the Congo?” Answer: “Yes, sir, he does.” Predictably, the hawkish Graham was totally okay with that. “The battlefield is wherever the enemy chooses to make it,” right? Right, said Sheehan: “from Boston to the [Federally Administered Tribal Areas of Pakistan]."
  • Asked how much longer the war on terrorism will last, Sheehan replied, “at least 10 to 20 years.” So presumably the AUMF can serve as the basis for Chelsea Clinton's “kill list” in 2033, after she trounces George P. Bush. Lyndon Johnson once compared the Gulf of Tonkin resolution to “Grandma’s nightshirt” because “it covers everything.” Even LBJ might have marveled at how the last two administrations have stretched the post-9/11 AUMF. Under the theory that “the United States is a battlefield in the war on terror,” the Bush administration invoked it to justify warrantless wiretapping and military detention of American citizens on American soil. The Obama administration cites it as legal authority for the extrajudicial killing of Americans via remote-control.
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  • The Senate Foreign Relations Committee will be taking another look at the AUMF this week. The hearing's title, “Authorization For Use Of Military Force After Iraq And Afghanistan,” hints at a preordained conclusion: that an updated authorization is needed. Ranking Republican Sen. Bob Corker of Tennessee wants to be sure the executive branch has “all the tools and capabilities” it needs to address “threats that did not exist in 2001.” Rep. Barbara Lee, D-Calif., the sole member of Congress to vote “no” on the original AUMF, has a better idea: end it, don't mend it. Joined by libertarian-leaning, antiwar Republicans like Reps. Justin Amash and Walter Jones, she's introduced legislation to repeal the AUMF. Two imperial presidents in a row have treated that authorization like a permanent delegation of congressional war power to the president. Their successors would no doubt do the same with any new “tools and capabilities” they’re given.
  • Without the AUMF, presidents still retain the constitutional power to “repel sudden attacks,” as James Madison put it. And if they think groups like al-Shabaab or Boko Haram demand a more sustained military response, they'll be free to make that case to Congress. But delegating new authorities in advance might permanently change our constitutional default setting from peace to war. Madison also said that “No nation could preserve its freedom in the midst of continual warfare.” We're now into our second decade running that experiment; how much longer do we want to risk proving him right?
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    I looked at Barbara Lee's bill. It requires a report from the Executive on all actions currently undertaken pursuant to the AUMF and requires that each action identified be terminated 60 days after the report unless Congress reauthorizes the action. It also repeals the AUMF. It's a good approach, but should require a sunset provision for each re-authorization so the Executive is blocked from maintaining us in a perpetual state of war as it has done with the AUMF itself. We're a long way from 9/11 and we are now fighting multiple wars in multiple nations against organizations that had nothing to do with 9/112, ostensibly to retaliate against those responsible for 9/11. No more open ended authorizations for war. 
Paul Merrell

Bail-In and the Financial Stability Board: The Global Bankers' Coup | nsnbc international - 0 views

  • Ellen H. Brown (WoD) : On December 11, 2014, the US House passed a bill repealing the Dodd-Frank requirement that risky derivatives be pushed into big-bank subsidiaries, leaving our deposits and pensions exposed to massive derivatives losses. The bill was vigorously challenged by Senator Elizabeth Warren; but the tide turned when Jamie Dimon, CEO of JPMorganChase, stepped into the ring. Perhaps what prompted his intervention was the unanticipated $40 drop in the price of oil. As financial blogger Michael Snyder points out, that drop could trigger a derivatives payout that could bankrupt the biggest banks. And if the G20’s new “bail-in” rules are formalized, depositors and pensioners could be on the hook. The new bail-in rules were discussed in my last last article entitled “New G20 Rules: Cyprus-style Bail-ins to Hit Depositors AND Pensioners.” They are edicts of the Financial Stability Board (FSB), an unelected body of central bankers and finance ministers headquartered in the Bank for International Settlements in Basel, Switzerland. Where did the FSB get these sweeping powers, and is its mandate legally enforceable?
  • Those questions were addressed in an article I wrote in June 2009, two months after the FSB was formed, titled “Big Brother in Basel: BIS Financial Stability Board Undermines National Sovereignty.” It linked the strange boot shape of the BIS to a line from Orwell’s 1984: “a boot stamping on a human face—forever.” The concerns raised there seem to be materializing, so I’m republishing the bulk of that article here. We need to be paying attention, lest the bail-in juggernaut steamroll over us unchallenged. The Shadowy Financial Stability Board Alarm bells went off in April 2009, when the Bank for International Settlements (BIS) was linked to the new Financial Stability Board (FSB) signed onto by the G20 leaders in London. The FSB was an expansion of the older Financial Stability Forum (FSF) set up in 1999 to serve in a merely advisory capacity by the G7 (a group of finance ministers formed from the seven major industrialized nations). The chair of the FSF was the General Manager of the BIS. The new FSB was expanded to include all G20 members (19 nations plus the EU).
  • Formally called the “Group of Twenty Finance Ministers and Central Bank Governors,” the G20 was, like the G7, originally set up as a forum merely for cooperation and consultation on matters pertaining to the international financial system. What set off alarms was that the new Financial Stability Board had real teeth, imposing “obligations” and “commitments” on its members; and this feat was pulled off without legislative formalities, skirting the usual exacting requirements for treaties. It was all done in hasty response to an “emergency.” Problem-reaction-solution was the slippery slope of coups. Buried on page 83 of an 89-page Report on Financial Regulatory Reform issued by the US Obama administration was a recommendation that the FSB strengthen and institutionalize its mandate to promote global financial stability. It sounded like a worthy goal, but there was a disturbing lack of detail. What was the FSB’s mandate, what were its expanded powers, and who was in charge? An article in The London Guardian addressed those issues in question and answer format:
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  • For three centuries, private international banking interests have brought governments in line by blocking them from issuing their own currencies and requiring them to borrow banker-issued “banknotes” instead. Political colonialism is now a thing of the past, but under the new FSB guidelines, nations could still be held in feudalistic subservience to foreign masters. Consider this scenario: the new FSB rules precipitate a massive global depression due to contraction of the money supply. XYZ country wakes up to the fact that all of this is unnecessary – that it could be creating its own money, freeing itself from the debt trap, rather than borrowing from bankers who create money on computer screens and charge interest for the privilege of borrowing it. But this realization comes too late: the boot descends and XYZ is crushed into line. National sovereignty has been abdicated to a private committee, with no say by the voters. Marilyn Barnewall, dubbed by Forbes Magazine the “dean of American private banking,” wrote in an April 2009 article titled “What Happened to American Sovereignty at G-20?”: It seems the world’s bankers have executed a bloodless coup and now represent all of the people in the world. . . . President Obama agreed at the G20 meeting in London to create an international board with authority to intervene in U.S. corporations by dictating executive compensation and approving or disapproving business management decisions.  Under the new Financial Stability Board, the United States has only one vote. In other words, the group will be largely controlled by European central bankers. My guess is, they will represent themselves, not you and not me and certainly not America.
  • Are these commitments legally binding? Adoption of the FSB was never voted on by the public, either individually or through their legislators. The G20 Summit has been called “a New Bretton Woods,” referring to agreements entered into in 1944 establishing new rules for international trade. But Bretton Woods was put in place by Congressional Executive Agreement, requiring a majority vote of the legislature; and it more properly should have been done by treaty, requiring a two-thirds vote of the Senate, since it was an international agreement binding on the nation. “Bail-in” is not the law yet, but the G20 governments will be called upon to adopt the FSB’s resolution measures when the proposal is finalized after taking comments in 2015. The authority of the G20 has been challenged, but mainly over whether important countries were left out of the mix. The omitted countries may prove to be the lucky ones, having avoided the FSB’s net.
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