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Gary Edwards

Hussman Funds: Timothy Geithner Meets Vladimir Lenin - January 4, 2010 - 0 views

hussmanfunds.com/...wmc100104.htm

financial-crisis obammunism banksters

shared by Gary Edwards on 06 Jan 10 - Cached
  • Rick Santelli of CNBC is exactly right. If this is how the U.S. government is going to operate in a democratic, free-market society, ‘we might as well put a hammer and sickle on the flag.'
  • Rick Santelli of CNBC is exactly right. If this is how the U.S. government is going to operate in a democratic, free-market society, ‘we might as well put a hammer and sickle on the flag.'
  • Rick Santelli of CNBC is exactly right. If this is how the U.S. government is going to operate in a democratic, free-market society, ‘we might as well put a hammer and sickle on the flag.'
  • ...12 more annotations...
  • “In effect, the Federal Reserve decided last week to overstep its legal boundaries – going beyond providing liquidity to the banking system and attempting to ensure the solvency of a non-bank entity. Specifically, the Fed agreed to provide a $30 billion “non-recourse loan” to J.P. Morgan, secured only by the worst tranche of Bear Stearns' mortgage debt. But the bank – J.P. Morgan – was in no financial trouble. Instead, it was effectively offered a subsidy by the Fed at public expense. Rick Santelli of CNBC is exactly right. If this is how the U.S. government is going to operate in a democratic, free-market society, ‘we might as well put a hammer and sickle on the flag.'
  • the Treasuries purchased by the Fed have always been accompanied directly or indirectly by revenue to the government that could be spent on behalf of its citizens for government programs that had the vote of Congress.
  • What has happened over the past two years is that the Federal Reserve has purchased about $1.25 trillion dollars in mortgage-backed securities issued by Fannie Mae and Freddie Mac – securities that the Treasury has now made an unlegislated (or at minimum, unintentionally legislated), bureaucratic decision to fully back.
  • Fiscal policy was always the domain of Congress alone.
  • Prior to 2008, the total amount of monetary base created in the history of the United States was about $800 billion.
  • the Treasury has committed to “allow the cap on Treasury's funding commitment under these agreements to increase as necessary to accommodate any cumulative reduction in net worth.”
  • In a sharp break from the past, the issuance of these Treasury securities will not be accompanied by any revenue to the government for Congressionally approved programs.
  • Every dollar of bad mortgage debt that should have been written off is now enshrined as two dollars of government-backed debt. One dollar as the original debt, which will now be made whole, and one dollar of new Treasury securities, which must be issued to make that original debt whole. Accordingly, the holders of both securities will have claims against our national assets and future wealth.
  • Rick Santelli of CNBC is exactly right. If this is how the U.S. government is going to operate in a democratic, free-market society, ‘we might as well put a hammer and sickle on the flag.'
  • Rick Santelli of CNBC is exactly right. If this is how the U.S. government is going to operate in a democratic, free-market society, ‘we might as well put a hammer and sickle on the flag.
  • “In effect, the Federal Reserve decided last week to overstep its legal boundaries – going beyond providing liquidity to the banking system and attempting to ensure the solvency of a non-bank entity. Specifically, the Fed agreed to provide a $30 billion “non-recourse loan” to J.P. Morgan, secured only by the worst tranche of Bear Stearns' mortgage debt. But the bank – J.P. Morgan – was in no financial trouble. Instead, it was effectively offered a subsidy by the Fed at public expense. Rick Santelli of CNBC is exactly right. If this is how the U.S. government is going to operate in a democratic, free-market society, ‘we might as well put a hammer and sickle on the flag.'
  • “The deal was made under duress, to the benefit of a private company, on the basis of financial assurances that the bureaucrats involved had no business making.
  • Gary Edwards on 06 Jan 10
     
    the Fed is now engaging in unlegislated, back-door fiscal policy. excerpt:  "The best way to destroy the capitalist system is to debauch the currency." Vladimir Lenin, leader of the 1917 Russian Revolution Last week, while Congress and the nation were preoccupied with the holidays, the Treasury made a Christmas eve announcement that it would be providing Fannie Mae and Freddie Mac unlimited financial support for the next three years. Put simply, in a single, coordinated stroke, the Treasury and the Federal Reserve have encroached on spending powers that are enumerated for the Congress alone. Under the Housing and Economic Recovery Act of 2008 (HERA), the Treasury has no such open-ended authority. Indeed, the applicable portion of the Act explicitly limits the total amount of mortgage principal (not losses, but total principal) as follows: .......... In a sharp break from the past, the issuance of these Treasury securities will not be accompanied by any revenue to the government for Congressionally approved programs. The Treasuries will be issued, the money will be handed over the Fannie Mae and Freddie Mac, and those funds will go largely to the Federal Reserve and other holders of existing mortgage debt simply to replace the bad, but bailed-out agency securities with cash as they mature. The public gets nothing for something - the issuance of the Treasuries is in itself their expenditure.
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

The progressive endgame, and how to prevent it | protein wisdom - 2 views

proteinwisdom.com/?p=51354#sthash.wDwzZhqK.dpuf

Federal-Reserve-Bankster-Cartel Globalist-Elites New-World-Order Banksters progressive-socialism Obammunism debt-crisis

shared by Gary Edwards on 05 Oct 13 - No Cached
  • Social Security Administration employees are being instructed to tell people who ask that if the debt ceiling is not raised, their social security benefits could be in danger. In an email sent Friday, obtained by The Daily Caller, employees are instructed: “If a member of the public asks whether their Social Security payment will be affected if the federal debt ceiling is not raised, you may give the following response: ‘Unlike a federal shutdown which has no impact on the payment of Social Security benefits, failure to raise the debt ceiling puts Social Security benefits at risk.’ “Direct all program–related and technical questions to your supervisor.”
  • This was done before in 2011 also and the answer is the same as it was then. Social Security holds $2.6 trillion in special-issue Treasury securities. Those bonds are part of the $14.3 trillion debt amassed by the U.S. government, and benefits are paid out of those securities. So, the theory goes, if Treasury redeemed the needed Social Security bonds, and issued new marketable Treasury bonds to make good on the Social Security bonds, it would be a one for one swap and the debt ceiling would not be increased. There is a technical wrinkle involving the fact that payroll taxes that are collected are supposed to be immediately turned into Treasury securities, but there could be ways around that, such as putting the monies in a noninterest bearing account, as during the 1985 debt crisis. [...] “I’m now 99.9 percent positive that Treasury has legal authority to pay Social Security benefits in both cases of a government shutdown and hitting the debt limit, since the payment of benefits shouldn’t affect the debt limit because it reduces the trust funds to the exact extent that it increase publicly-held debt,” Fichtner said. “What I don’t know is whether Treasury has to pay benefits if it chooses not to.” Dean Baker, co-director of the Center for Economic and Policy Research who has derided “the phony crisis” of Social Security, also believes the checks could keep flowing. “I would think that they could legally pay Social Security by reducing the obligations of the fund,” he said. “It no doubt would be a huge political issue.”
  • Gary Edwards on 05 Oct 13
     
    Incredible theory, which, if true, would indeed end our Constitutional Republic.
  • Paul Merrell on 05 Oct 13
     
    Diigo is having problems, I see. Correct link to the article quoted is http://proteinwisdom.com/?p=51354
Gary Edwards

U.S. Debt - How Much China Owns - 0 views

usgovinfo.about.com/...uch-US-Debt-Does-China-Own.htm

Banksters USA-debt debt-crisis China-USA-debt

shared by Gary Edwards on 09 Aug 11 - No Cached
  • Gary Edwards on 09 Aug 11
     
    So who owns all that U.S. debt? About 32 cents for every dollar of U.S. debt, or $4.6 trillion, is owned by the federal government in trust funds, for Social Security and other programs such as retirement accounts, according to the U.S. Department of Treasury. China and U.S. Debt The largest portion of U.S. debt, 68 cents for every dollar or about $10 trillion, is owned by individual investors, corporations, state and local governments and, yes, even foreign governments such as China that hold Treasury bills, notes and bonds. Foreign governments hold about 46 percent of all U.S. debt held by the public, more than $4.5 trillion. The largest foreign holder of U.S. debt is China, which owns more about $1.2 trillion in bills, notes and bonds, according to the Treasury. In total, China owns about 8 percent of publicly held U.S. debt. Of all the holders of U.S. debt China is the third-largest, behind only the Social Security Trust Fund's holdings of nearly $3 trillion and the Federal Reserve's nearly $2 trillion holdings in Treasury investments, purchased as part of its quantitative easing program to boost the economy.   The truth is the bulk of the $14.3 trillion U.S. debt - $9.8 trillion in all - is owned by the American people and its government.
Paul Merrell

Toxic US corporate culture 'unchanged': watchdog - Yahoo News - 0 views

news.yahoo.com/years-financial-041652986.html

banksters TARP fraud convictions

shared by Paul Merrell on 30 Oct 13 - No Cached
  • Five years after the US financial crisis forced the massive government TARP bailout, the US corporate culture remains toxic and breeding crime, the watchdog for the bailout program said Tuesday.More than 300 people in the banking, housing and securities industries are in the hands of the criminal system, whether it is a charge, a conviction or a sentencing, the Office of the Special Inspector General for the Troubled Asset Relief Program (SIGTARP) said in a quarterly report to Congress."The financial system has stabilized, but the toxic corporate culture that led up to the crisis and TARP has not sufficiently changed," said Christy Romero, the special inspector general."At the core of the crisis was a pervasive culture at institutions of rampant risktaking and greed combined with significant unchecked power," she said.
  • SIGTARP was launched in early 2009 to detect fraud in the massive TARP bailout program. Within weeks of the Lehman Brothers bankruptcy, the government set up the $700 billion TARP to prop up the collapsing financial system. In 2010, the cap on the Treasury's authority to purchase and guarantee assets under TARP was reduced to $475 billion.To date, 65 people have been sentenced to prison for their crimes investigated by SIGTARP and its law enforcement partners, 112 have been convicted and await sentencing and 154 individuals have been criminally charged and face trial on those charges, the report said.In addition, 60 people have been banned from their industries."Many of these defendants were at the highest levels of banks or companies that applied for or received TARP bailout money. They were trusted to exercise good judgment and make sound decisions. However, they abused that trust. Many times they abused that trust for their own personal benefit," the report said.
  • As of September 30 Treasury had $30.7 billion in write-offs, losses or money not collectible from the program, according to the report."Treasury's write-offs and realized losses are money that taxpayers will never get back. Treasury generally expects the amounts currently not collectible will also be lost," the agency said.The watchdog was harshly critical of the Treasury's oversight of the Hardest Hit Fund, set up in February 2010 to help families in places hurt the most by the housing crisis.The Treasury allocated $7.6 billion in TARP funds for the HHF program in 18 states and Washington, DC, administered by local authorities.But states have reduced their proposed numbers of homeowners needing help, and the Treasury has ignored the SIGTARP's conclusions of an audit reported in April 2012.
  • ...1 more annotation...
  • "Rather than fix the problem that SIGTARP warned Treasury about in its audit, Treasury allowed the problem to get worse. Rather than following SIGTARP’s recommendations, which were designed to make Treasury and states set goals and work hard to achieve those goals, Treasury is refusing to hold itself or the states accountable to any goal of the number of homeowners to be assisted in HHF, and the result has been that the program is reaching far fewer homeowners than the states expected," the agency said.As of June 30, 2013, the latest data available, it said, states had spent only 22 percent, or $1.7 billion, of the TARP funds and the program had helped only 27 percent of the homeowners that states had anticipated helping in 2011.
  • Paul Merrell on 30 Oct 13
     
    So many convictions. But somehow, I missed the news about executives at the too-big-to-fail banks being even prosecuted, let alone being convicted. But I did hear about a few of them becoming Obama Administration officials and bankster industry regulators. I'd really like to see a breakdown of who was convicted, of what, and their former positions. And for the 154 awaiting trial, what they're charged with and the positions they occupied at the relevant times. Forgive me for my cynicism, but those in charge of the too-big-to-fail frauds seem to be buying deals not to prosecute people criminally in return for civil penalties that are far less than the money gained by their frauds. Perhaps a relevant reform would be to limit the Justice Department and SEC's ability to bring civil cases against corporations to situations in which they have already secured a criminal conviction of one or more of the the company's principles?  Civil penalties levied against corporations have done little to deter bankster fraud. 
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
Gary Edwards

Major Banksters, Governmental Officials and Their Comrade Capitalists Targets of Spire ... - 0 views

www.marketwatch.com/...ted-states-treasury-2012-10-25

Banksters Federal-Reserve-Bankster-Cartel

shared by Gary Edwards on 02 Nov 12 - No Cached
  • Gary Edwards on 02 Nov 12
     
    "NEW YORK, Oct. 25, 2012 /PRNewswire via COMTEX/ -- Spire Law Group, LLP's national home owners' lawsuit, pending in the venue where the "Banksters" control their $43 trillion racketeering scheme (New York) - known as the largest money laundering and racketeering lawsuit in United States History and identifying $43 trillion ($43,000,000,000,000.00) of laundered money by the "Banksters" and their U.S. racketeering partners and joint venturers - now pinpoints the identities of the key racketeering partners of the "Banksters" located in the highest offices of government and acting for their own self-interests. In connection with the federal lawsuit now impending in the United States District Court in Brooklyn, New York (Case No. 12-cv-04269-JBW-RML) - involving, among other things, a request that the District Court enjoin all mortgage foreclosures by the Banksters nationwide, unless and until the entire $43 trillion is repaid to a court-appointed receiver - Plaintiffs now establish the location of the $43 trillion ($43,000,000,000,000.00) of laundered money in a racketeering enterprise participated in by the following individuals (without limitation): Attorney General Holder acting in his individual capacity, Assistant Attorney General Tony West, the brother in law of Defendant California Attorney General Kamala Harris (both acting in their individual capacities), Jon Corzine (former New Jersey Governor), Robert Rubin (former Treasury Secretary and Bankster), Timothy Geitner, Treasury Secretary (acting in his individual capacity), Vikram Pandit (recently resigned and disgraced Chairman of the Board of Citigroup), Valerie Jarrett (a Senior White House Advisor), Anita Dunn (a former "communications director" for the Obama Administration), Robert Bauer (husband of Anita Dunn and Chief Legal Counsel for the Obama Re-election Campaign), as well as the "Banksters" themselves, and their affiliates and conduits. The lawsuit alleges serial violations of the United States Patri
  • Gary Edwards on 02 Nov 12
     
    This is the first time anyone has tried to go after the Bankster class of midievil (mediæval) elites to recover theft of funds. Charges include racketeering, fraud and international money laundering. The mass tort action is now in the Brooklyn Federal Courts. Dead bodies are starting to show up as the Banksters move to shut down press coverage. Amazing stuff.
Paul Merrell

Banks Rig Treasury Market ... And EVERY OTHER Market As Well Washington's Blog - 0 views

www.washingtonsblog.com/...very-other-market-as-well.html

banksters Treasury-securities market-rigging litigation drivatives CDS energy-markets commodities gold silver interest-rates fraud must-read

shared by Paul Merrell on 20 Sep 15 - No Cached
  • Bloomberg reports today: The same analytical technique that uncovered cheating in currency markets and the Libor rates benchmark [details below] — resulting in about $20 billion of fines — suggests the dealers who control the U.S. Treasury market rigged bond auctions for years, according to a lawsuit. *** The plaintiffs built their case against the 22 primary dealers who serve as the backbone of Treasury trading — including Goldman Sachs Group Inc., JPMorgan Chase & Co. and Morgan Stanley — using data from Rosa Abrantes-Metz, an adjunct associate professor at New York University who has provided expert testimony in rigging cases. Her conclusion: More than two-thirds of a certain type of Treasury auction appear to have been rigged. She found issues with other auctions, too.
  • Paul Merrell on 20 Sep 15
     
    Washington's Blog contributes an epic expose of bankster fraud, with links galore. A must-read.
Paul Merrell

$100B withdrawal from US Treasury bills hints at Russian move | New York Post - 0 views

nypost.com/...-100b-out-of-us-treasury-bills

war & peace Russia U.S. Treasury-securities

shared by Paul Merrell on 16 Mar 14 - No Cached
  • A record $100 billion in withdrawals of Treasury bills is raising speculation that the Kremlin and Russian oligarchs are yanking their money out of the United States to avoid upcoming sanctions over Ukraine. The massive outflow over the past week came as President Obama and other top US officials repeatedly warned Russia would face a “cost” if it didn’t reverse course in Ukraine. The total amount of foreign-held US Treasury securities dropped to $2.86 trillion — lowest in more than a year. Last year, the most moved out in a week was $32 billion.
  • Analysts said that if the switch was made by Russia, it would represent about 80 percent of that nation’s US Treasury holdings. “This is only speculation on our part, but it seems likely that the Russian authorities had more than $100 billion of Treasury debt in custody at the Fed, and it doesn’t seem implausible that they moved it to a jurisdiction where it would be less vulnerable to a US asset freeze,” Lou Crandall at Wrightson ICAP LLC told The Wall Street Journal.
Gary Edwards

ESR | February 20, 2012 | The Federal Reserve rip-off - 0 views

www.enterstageright.com/...0212federserveripoff.htm

Federal-Reserve-Bankster-Cartel Banksters

shared by Gary Edwards on 19 Feb 12 - No Cached
  • Gary Edwards on 19 Feb 12
     
    Ron Paul racks up another near win, as conservative writer Alan Caruba smells the coffee and starts paying attention to the criminal enterprise known as the Federal Reserve Bankster Cartel.  It's about time.  But sadly there are too few conservatives paying attention to the money.  Sadly, conservatives choose to wallow in 1980 political issues where conservative social values and national security - military buildup were the concerns of the day. The truth is that it's always the money.  Follow the money!!  And all things will become clear.  Including how to get America back on track. excerpt: Anyone taking notice of Obama's latest budget has to conclude that his mission is to crash the nation's economy and turn America into a Socialist worker's paradise. The only problem is that Socialism has been a dismal failure everywhere it has been tried. One only has to look at the collapse of the Soviet Union for confirmation of that, the Chinese abandonment of Communist economic theory, and Obama's odd notion that a nation can spend itself out of ever-increasing debt. I am not a fan of Paul's isolationism, but he is absolutely right about getting rid of the Federal Reserve. Established in 1913, the same year income taxes were instituted, the Reserve is not part of the federal government. It is, in fact, privately owned by a consortium of banks and that might include foreign banks as well. In a remarkable essay, "10 Things That Every American Should Know About The Federal Reserve" by Michael T. Snyder, it is clear that the Constitution intended to have the U.S. Treasury to be soley responsible to "coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures." Synder points out that the Federal Reserve System (the Fed) is a privately owned banking cartel and one granted the right to create money out of thin air. It is, says Synder "a perpetual debt machine because "whenever more money is created, more debt is creat
Gary Edwards

CHILDREN KILLED OF KEVIN KRIM, CHIEF EXECUTIVE OF CNBC DIGITAL, AFTER RELEASING INFORMA... - 0 views

www.fourwinds10.net/...news.php

Banksters Federal-Reserve-Bankster-Cartel assasination murder

shared by Gary Edwards on 02 Nov 12 - No Cached
  • Gary Edwards on 02 Nov 12
     
    Incredible article about the behind-the-scenes story of the nanny murder of two small children in NYC.   First, it's a staged murder meant to send a clear message to ALL media.  The children were the offspring of Kevin Krim, CEO of CNBC digital.  His website had published a story about the Spire Law Group suing an entire class of bigshot BANKSTERS for the theft of $43 TRILLION dollars of tax payer money.  Second, this involves the US Government.  The Spire allegation is that the Feds actively helped and assisted the Bankster theft. Third, the story describes the historical background of these Bankster hits, assassination and threats.  Although not covered in the article, Presidential assassinations in particular have an unmistakable link to Executive Orders that the Treasury print Silver Certificates that would compete against Bankster notes.  In one way or another, it's all about control of the money system.  This list of Presidents includes Jackson, Lincoln, Garfield, McKinley, Kennedy and Reagan. Original Press Release from the Spire Law Group:  ... http://goo.gl/ynV6O .... Wow! ................................... excerpt:: "On 10/25/2012 two corporate financial media bastions,  MarketWatch  (an affiliate of the Wall Street Journal) and CNBC, presented their readers with a bombshell.  In a too-good-to-be-true lawsuit, the top echelons of the USA's banking and civilian government had been sued for "racketeering and money laundering."  The suit requested "the return of $43 trillion to the United States Treasury."  Yes, you've read that right: 43 trillion-roughly 3 years worth of America's GDP or 3 times America's underestimate of its own national debt. The suit characterizes itself, according to these two corporate media tabloids, as the largest money laundering and racketeering lawsuit in United States History.  [It identifies] $43 trillion ($43,000,000,000,000.00) of laundered money by the 'Banksters' and their U.S. r
Gary Edwards

U.S. Treasury Says Financial Crisis Is Over But The Next One May Be Right In Front Of Us - 0 views

problembanklist.com/y-be-right-in-front-of-us-0494

Banksters Federal-Reserve-Bankster-Cartel Obammunism USA-bankruptcy

shared by Gary Edwards on 02 Mar 12 - No Cached
  • Gary Edwards on 02 Mar 12
     
    More great charts, this time courtesy of the US Treasury Department. The charts use select areas of measurement to show a slowly improving economy, with the private sector leading the way. What the charts don't show or discuss is that the Obama economy has been assisted by $3 Trillion in Federal Reserve Bankster Cartel "quantitative easing", and the $5 Trillion in debt that Obama spending has racked up. Throw in the secret $16.1 Trillion the Federal Reserve pumped into the international bankster system, and the question becomes, "Where is all this money going? And why isn't the economy jumping?" The numbers are staggering. One chart provided by Treasury shows a successful TARP program where the Banksters have paid back in full the massive bailout funds. One has to wonder though, are they paying back the taxpayer bailout with newly generated profits? Or are they simply using freshly printed Federal Reserve dollars ($19.1 Trillion by the Federal Reserve's count), passed to them at zero interest? The shell game Obama, the ruling establishment, and the Federal Reserve Bankster Cartel have been playing may be running out of steam. We're now in the money laundering stage where Banksters and trading partners like China are dumping their digital-ions of dollars for real property, corporate assets and hard currencies. The St Louis branch of the Federal Reserve Cartel says as much in their most recent economic study. From the article: ....... The nation's debt load has grown to the point where the U.S. is now threatened with bankruptcy but the economy is not likely to grow fast enough to reduce the need for additional government borrowing. Empirical studies have shown a strong correlation between high levels of debt and reduced economic growth which results in decreased government revenue as explained below.......... An essay published by the St. Louis Federal Reserve on the Federal debt poised the question, "Too Little Revenue or Too Much Spe
Paul Merrell

9/11 Bill Prompts Saudi Threat to Sell Off U.S. Treasury Debt | 28Pages.org - 0 views

28pages.org/...-to-sell-off-u-s-treasury-debt

war & peace 9-11 Saudis 28-pages Treasury-securities threats

shared by Paul Merrell on 16 Apr 16 - No Cached
  • Saudi Arabia has warned the Obama administration and federal legislators that it will sell off U.S. Treasury debt worth $750 billion if Congress passes a law clearing the way for 9/11 victims to sue the kingdom for its alleged role in aiding the hijackers. according to a story in today’s New York Times.
  • Appearing on Michael Smerconish’s CNN program Saturday morning, former Senator Bob Graham, a leading advocate of declassifying 28 pages that allegedly implicate Saudi Arabia in the attacks, said, “I’m outraged but not surprised.” According to the Times report, the kingdom’s caution was personally delivered last month by Saudi foreign minister Adel al-Jubeir, who reportedly told legislators that, if the bill passes, Saudi Arabia would sell up to $750 billion in Treasury debt before it could be potentially frozen by U.S. courts.
  • Though presented as a necessity for Saudi Arabia’s own financial protection, Saudi Arabia’s cautionary statement is de facto economic threat against the United States. A sell-off would prompt an increase in U.S. Treasury interest rates, raising borrowing costs for the American government, businesses and consumers and potentially triggering an economic downturn that extends beyond our own shores. The Saudi warning was triggered by the legislative progress of the Justice Against Sponsors of Terrorism Act (JASTA), which would amend the Foreign Sovereign Immunities Act (FSIA). Last fall, Saudi Arabia was dropped from a lawsuit filed by 9/11 families, victims and insurers after a federal judge said the plaintiffs had failed to meet the high jurisdictional hurdles that FSIA imposes for claims against foreign governments.
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  • According to the New York Times report, the Obama administration has aggressively lobbied lawmakers against passing JASTA, telling them it could trigger moves by other countries to undermine immunity enjoyed by the U.S. government and American businesses and individuals abroad. September 11 widow Terry Strada, who has spent years lobbying for JASTA, told Smerconish, “I’m shocked with what’s going on here. Do the Saudis really have that much influence on our government? Are they really calling the shots in Washington, D.C.?”
  • Graham said that failing to hold Saudi Arabia to account for its “complicity in the murder of 3,000 Americans” gave the kingdom “a sense of impunity that they can do anything they wanted to with no sanction, and now that impunity has expanded to their trying to lobby the highest levels of the White House and the Congress” to prevent a courtroom determination of Saudi Arabia’s guilt. “I believe that there is material in the 28 pages and the volume of other documents that would indicate that there was a connection at the highest levels between the Kingdom of Saudi Arabia and the 19 hijackers. I believe that the plot would not have occurred but for the support and protection that the hijackers were receiving primarily from Saudi Arabia,” said Graham. Graham’s reference to the “highest levels” of the Saudi government is reminiscent of a statement former Navy secretary and 9/11 Commission member John Lehman made to 60 Minutes on Sunday. Asked if the 28 classified pages names names, he replied, “Yes. The average intelligent watcher of 60 Minutes would recognize them instantly.” Smerconish asked Graham about the kingdom’s 2003 request to the Bush administration to release the 28 pages. “I think what the Saudis had was an understanding with the United States that whatever the Saudis indicated they wanted was a sham,” said Graham, adding that Saudi Arabia likely relied on a quiet commitment by the U.S. government to keep the pages classified, freeing the kingdom to make the request solely for public consumption.
Gary Edwards

Of Bailouts, Bonuses, and Generational Responsibility from The Daily Bail - 0 views

www.google.com/...view

obammunism baby-boomers john-gallo financial-collapse

shared by Gary Edwards on 09 Apr 10 - No Cached
  • When one transfers the learned behavior of selfishness to the world of economics, it is east to see how we got to the world of adjustable rate mortgages, thirty-to-one leverage, credit default swaps, and thirty year hedge fund workers acting as is million dollar paychecks was an otherwise normal entitlement.  If it felt good, it was therefore right – and by all means, don’t rock the boat.  And what we are witnessing today in Washington and Wall Street in response to our economic crisis is nothing but a conscious and willing decision to pass off to the next generation the cost of our mistakes.
  • the fundamental principles of capitalism – namely that bad actors need to fail.
  • First and most foremost, the Congress needs to institute a modernized version of Glass-Stegall and separate commercial banking from investment banking activities. What we have seen in the abolishment Glass-Stegall (please thank Mr. Rubin formerly of Goldman Sachs) is the creation of federally subsidize casinos masquerading as publicly traded financial institutions.  They kept profits from over-leveraged bets and were kind enough to pass their losses onto the taxpayers.  Second, Congress needs to repeal legislation (Gramm-Leach) that allowed financial institutions not only to leverage in ways previously not permitted, but which also granted banks and financial situations exemption from federal gambling laws. Third, and this is where moral outrage hits home to those on Wall Street, we cannot live in a country in which any company is allowed to manipulate the levers of government in such a way as to make itself obscenely rich at the expense of the public.
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  • We saw as we proceeded through life that pursuing one’s self-interest was rewarded just as often than doing what was right, that morals were relative, and that there would be no consequences to bad behavior. It became de rigueur to assume that our parents (and their lawyers) would save us from our bad behavior.
  • no consequences to irresponsible behavior.
  • it is hard to avoid the reality that my generation, the baby boomers who are now approaching retirement, have caused the greatest collapse of the world economy since the 1930s, and in the process damaged this country in ways we are now only beginning to understand.
  • Goldman is only the largest corporate contributor to the Obama administration
  • Looking back more eighteen months after the first signs of distress in our economy appeared, it seems that leaders in Congress and Wall Street have erred in a manner never before witnessed in this nation.  In the process, they have conspired through their collective arrogance, greed, and ignorance to damage the economy of the country (if not the world), make many themselves rich beyond the imaginations of most Americans, and in the process commit the greatest financial rape of the American public in the history of the country.  And if that does resonate, then either you have not been paying attention for the past two years, or you have received your paycheck form Goldman Sachs.
  • Capitalism remains the best economic system on the planet, but when those who have profited handsomely seek to socialize losses caused by their errors, then those in power in Washington have a moral responsibility to demand an accounting.  Our anger comes from the fact that our leaders have failed in their public obligations at the expense of the interests on Wall Street, and in the process created the greatest social divide that this country has seen in the past 40 years.
  • our nation has one of the highest ratios of debt to GDP on the globe
  • Finally, the administration should demand (I know it won’t) that Goldman Sachs return the approximately $13 billion it received in backdoor payments through AIG when AIG received $180 billion in bailout money. That $13 billion belongs to the taxpayers of this country, and the decision to allow Goldman to receive that money perhaps stands as the greatest moral outrage of this entire sordid affair.  
  • he nation will not die; to the contrary, it would become stronger if we permit free markets to work, and allow the next-generation to live unburdened by our mistakes and arrogance.
  • The proposal in question was Ryan's "Roadmap for America's Future," a sweeping plan to stave off the nation's looming economic and fiscal collapse by changing the tax code, overhauling the health care system, and reforming the nation's major entitlement programs. Its debt-reducing claims aren't based on mere fantasy -- the Congressional Budget Office has determined that the plan would boost economic growth while making Medicare and Social Security solvent. And it accomplishes these aims without raising taxes or affecting the benefits of current retirees.
  • There's no doubt where the Treasury will turn for finance. We are about to see the greatest stuffing of banks with government securities the world has ever seen. American banks will be forced to gorge on Treasury securities, and disgorge bank reserves. Where else can the government get the next trillion to spend on things like wars, unemployment benefits, and food stamps?There are a few obvious things to think about here. At the rate of $120 billion a month, it will only take about nine months to blow through over a trillion dollars in free bank reserves. Each Treasury auction will find it more difficult to sell all of the treasury securities, and it will take rising interest rates to coax out even more reserves from the banks. (When you need to borrow over $4 billion a day, even a trillion dollars doesn't last long.)
  • Gary Edwards on 09 Apr 10
     
    Wow!  This is the best response to the financial collapse i have read to date.  Exceptional in clarity, but written with a tone of mixed sorrow and shame.  Mr. Gallow places the blame exactly where it should be placed.  It's a generational thing with one exception Mr. Gallow overlooks - the Obama margin of victory was very much due to the massive turnout and votes of post baby boomer generations.  We boomers may have created and caused the financial collapse and destruction of America, but they were dumb enough to put the decline of capitalism and ordered liberty on marxist steroids. excerpt:  .... this is the first time that I have been so angered by incompetence and greed in government and Wall Street to express publicly my own thoughts.  In simple terms, what has dawned on me is that my generation, the "Baby Boomers" between the ages of 45 and 65, has emerged not as not the most significant or talented generation in our history (as we thought we were), but rather as the most self-absorbed and reckless. Because ours will be the first generation in the history of this country to leave to its successors a nation in worse shape than that which it inherited; put differently, we will be the first generation in this nation to have taken from our parents and stolen from our children. .. it is hard to avoid the reality that my generation, the baby boomers who are now approaching retirement, have caused the greatest collapse of the world economy since the 1930s, and in the process damaged this country in ways we are now only beginning to understand. ... Looking back more eighteen months after the first signs of distress in our economy appeared, it seems that leaders in Congress and Wall Street have erred in a manner never before witnessed in this nation.  In the process, they have conspired through their collective arrogance, greed, and ignorance to damage the economy of the country (if not the world), make many themselves rich beyond the imaginations of mo
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.
Gary Edwards

‪Ask the President: What are you going to do with $181 Billion Dollars if you... - 0 views

www.youtube.com/watch

Banksters national-debt-Ceiling financial-collapse Obammunism SCAM banksters

shared by Gary Edwards on 03 Aug 11 - No Cached
  • Gary Edwards on 03 Aug 11
     
    President Obama, what exactly will you choose to pay? What are your priorities?  Excellent YouTube video explaining the National Debt Ceiling SCAM!  (Many thanks to uber Patriot Frank A. for the link).  Great graphics, and the end sequence is perfect!! The graph is meant to visually demonstrate just what was stated in the video... That after obligations like Social Security, Medicare, Military, Air Traffic Control, and existing debt management are met, there is still another 17 billion left over.  Meaning the aforementioned services are being threatened at the President's own discretion. The politics are thick here, with both the Federal Reserve and the Treasury Department full participants in the political scam.   The question remains, if Obama is not going to meet those debt obligations outlined in the graph, WHAT IS HE GOING TO DO WITH THE $181.1 Billion in MONEY that comes into the Treasury this August?
Paul Merrell

FinCEN Files: Bernie Sanders and Elizabeth Warren join watchdog groups in calling for b... - 1 views

www.icij.org/...in-calling-for-banking-reforms

banksters money-laundering FinCEN-files banking-reform

shared by Paul Merrell on 22 Sep 20 - No Cached
  • Prominent U.S. senators Bernie Sanders and Elizabeth Warren have joined watchdog groups and banking regulators in calling for a crackdown on dirty money and banks that profit from it in the wake of the FinCEN Files investigation. Sanders and Warren, former candidates for the 2020 Democratic presidential nomination who both inspired strong support on the left, called for tougher consequences for banks and their executives who move money linked to crime and corruption.
  • Sanders’ messages came less than a day after the International Consortium of Investigative Journalists’ release of FinCEN Files, a global investigation revealing how leading banks allowed trillions of dollars in tainted money to flow freely through the financial system. Based on more than 2,100 secret reports filed by banks to the U.S. Department of Treasury and obtained by BuzzFeed News, the investigation included more than 400 journalists in 88 countries around the world. Warren also called for a crackdown on banks that are complicit in the spread of dirty money, highlighting policy proposals that would strengthen the ability of law enforcement to combat white collar crime. Warren called for the creation of a new unit in the U.S. Treasury Department to investigate financial crimes linked to the flow of dirty money. She also pushed for the passage of the Ending Too Big to Jail Act, a law she proposed in 2018 that would make it easier to hold Wall Street executives criminally accountable when the banks they lead engage in illegal activity.
  • Elizabeth Rosenberg, a former sanctions official for the U.S. Treasury Department, said the revelations exposed the national security threats posed by banks’ laxity. “The FinCEN Files illustrate the alarming truth that an enormous amount of illicit money is sloshing around our financial system, and that U.S. banks play host and facilitator to rogues and criminals that represent some of America’s most insidious national security threats,” Rosenberg told the Wall Street Journal. Rosenberg urged the passage of stronger transparency laws that crack down on the use of anonymous companies, which are often used for money laundering.
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  • Legislation that would end shell companies by creating a national registry of the real, flesh-and-blood owners of all U.S. companies enjoys overwhelming support in both parties, but remains stalled in the U.S. Senate due to a packed schedule and partisan dysfunction, ICIJ reported in August.
Paul Merrell

Spy Chief James Clapper Wins Rosemary Award - 0 views

www2.gwu.edu/...20140324

surveillance state NSA Rosemary-Award Obama Clapper Alexander

shared by Paul Merrell on 24 Mar 14 - No Cached
  • Director of National Intelligence James Clapper has won the infamous Rosemary Award for worst open government performance in 2013, according to the citation published today by the National Security Archive at www.nsarchive.org. Despite heavy competition, Clapper's "No, sir" lie to Senator Ron Wyden's question: "Does the NSA collect any type of data at all on millions or hundreds of millions of Americans?" sealed his receipt of the dubious achievement award, which cites the vastly excessive secrecy of the entire U.S. surveillance establishment. The Rosemary Award citation leads with what Clapper later called the "least untruthful" answer possible to congressional questions about the secret bulk collection of Americans' phone call data. It further cites other Clapper claims later proved false, such as his 2012 statement that "we don't hold data on U.S. citizens." But the Award also recognizes Clapper's fellow secrecy fetishists and enablers, including:
  • Gen. Keith Alexander, director of the NSA, for multiple Rose Mary Woods-type stretches, such as (1) claiming that the secret bulk collection prevented 54 terrorist plots against the U.S. when the actual number, according to the congressionally-established Privacy and Civil Liberties Oversight Board (PCLOB) investigation (pp. 145-153), is zero; (2) his 2009 declaration to the wiretap court that multiple NSA violations of the court's orders arose from differences over "terminology," an explanation which the chief judge said "strains credulity;" and (3) public statements by the NSA about its programs that had to be taken down from its website for inaccuracies (see Documents 78, 85, 87 in The Snowden Affair), along with public statements by other top NSA officials now known to be untrue (see "Remarks of Rajesh De," NSA General Counsel, Document 53 in The Snowden Affair).
  • Robert Mueller, former FBI director, for suggesting (as have Gen. Alexander and many others) that the secret bulk collection program might have been able to prevent the 9/11 attacks, when the 9/11 Commission found explicitly the problem was not lack of data points, but failing to connect the many dots the intelligence community already had about the would-be hijackers living in San Diego. The National Security Division lawyers at the Justice Department, for misleading their own Solicitor General (Donald Verrilli) who then misled (inadvertently) the U.S. Supreme Court over whether Justice let defendants know that bulk collection had contributed to their prosecutions. The same National Security Division lawyers who swore under oath in the Electronic Frontier Foundation's Freedom of Information Act lawsuit for a key wiretap court opinion that the entire text of the opinion was appropriately classified Top Secret/Sensitive Compartmented Information (release of which would cause "exceptionally grave damage" to U.S. national security). Only after the Edward Snowden leaks and the embarrassed governmental declassification of the opinion did we find that one key part of the opinion's text simply reproduced the actual language of the 4th Amendment to the U.S. Constitution, and the only "grave damage" was to the government's false claims.
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  • President Obama for his repeated misrepresentations about the bulk collection program (calling the wiretap court "transparent" and saying "all of Congress" knew "exactly how this program works") while in effect acknowledging the public value of the Edward Snowden leaks by ordering the long-overdue declassification of key documents about the NSA's activities, and investigations both by a special panel and by the Privacy and Civil Liberties Oversight Board. The PCLOB directly contradicted the President, pointing out that "when the only means through which legislators can try to understand a prior interpretation of the law is to read a short description of an operational program, prepared by executive branch officials, made available only at certain times and locations, which cannot be discussed with others except in classified briefings conducted by those same executive branch officials, legislators are denied a meaningful opportunity to gauge the legitimacy and implications of the legal interpretation in question. Under such circumstances, it is not a legitimate method of statutory construction to presume that these legislators, when reenacting the statute, intended to adopt a prior interpretation that they had no fair means of evaluating." (p. 101)
  • Even an author of the Patriot Act, Rep. Jim Sensenbrenner (R-WI), was broadsided by the revelation of the telephone metadata dragnet. After learning of the extent of spying on Americans that his Act unleashed, he wrote that the National Security Agency "ignored restrictions painstakingly crafted by lawmakers and assumed plenary authority never imagined by Congress" by cloaking its actions behind the "thick cloud of secrecy" that even our elected representatives could not breech. Clapper recently conceded to the Daily Beast, "I probably shouldn't say this, but I will. Had we been transparent about this [phone metadata collection] from the outset … we wouldn't have had the problem we had." The NSA's former deputy director, John "Chris" Inglis, said the same when NPR asked him if he thought the metadata dragnet should have been disclosed before Snowden. "In hindsight, yes. In hindsight, yes." Speaking about potential (relatively minimal) changes to the National Security Agency even the president acknowledged, "And all too often new authorities were instituted without adequate public debate," and "Given the unique power of the state, it is not enough for leaders to say: Trust us. We won't abuse the data we collect. For history has too many examples when that trust has been breached." (Exhibit A, of course, is the NSA "watchlist" in the 1960's and 1970's that targeted not only antiwar and civil rights activists, but also journalists and even members of Congress.)
  • The Archive established the not-so-coveted Rosemary Award in 2005, named after President Nixon's secretary, Rose Mary Woods, who testified she had erased 18-and-a-half minutes of a crucial Watergate tape — stretching, as she showed photographers, to answer the phone with her foot still on the transcription pedal. Bestowed annually to highlight the lowlights of government secrecy, the Rosemary Award has recognized a rogue's gallery of open government scofflaws, including the CIA, the Treasury Department, the Air Force, the FBI, the Federal Chief Information Officers' Council, and the career Rosemary leader — the Justice Department — for the last two years. Rosemary-winner James Clapper has offered several explanations for his untruthful disavowal of the National Security Agency's phone metadata dragnet. After his lie was exposed by the Edward Snowden revelations, Clapper first complained to NBC's Andrea Mitchell that the question about the NSA's surveillance of Americans was unfair, a — in his words — "When are you going to stop beating your wife kind of question." So, he responded "in what I thought was the most truthful, or least untruthful, manner by saying 'no.'"
  • After continuing criticism for his lie, Clapper wrote a letter to Chairman of the Senate Select Committee on Intelligence Dianne Feinstein, now explaining that he misunderstood Wyden's question and thought it was about the PRISM program (under Section 702 of the Foreign Intelligence Surveillance Act) rather than the telephone metadata collection program (under Section 215 of the Patriot Act). Clapper wrote that his staff "acknowledged the error" to Senator Wyden soon after — yet he chose to reject Wyden's offer to amend his answer. Former NSA senior counsel Joel Brenner blamed Congress for even asking the question, claiming that Wyden "sandbagged" Clapper by the "vicious tactic" of asking "Does the NSA collect any type of data at all on millions or hundreds of millions of Americans?" Meanwhile, Steve Aftergood of the Federation of American Scientists countered that "it is of course wrong for officials to make false statements, as DNI Clapper did," and that in fact the Senate Intelligence Committee "became complicit in public deception" for failing to rebut or correct Clapper's statement, which they knew to be untruthful. Clapper described his unclassified testimony as a game of "stump the chump." But when it came to oversight of the National Security Agency, it appears that senators and representatives were the chumps being stumped. According to Representative Justin Amash (R-Mich), the House Intelligence Committee "decided it wasn't worthwhile to share this information" about telephone metadata surveillance with other members of Congress. Classified briefings open to the whole House were a "farce," Amash contended, often consisting of information found in newspapers and public statutes.
  • The Emmy and George Polk Award-winning National Security Archive, based at the George Washington University, has carried out thirteen government-wide audits of FOIA performance, filed more than 50,000 Freedom of Information Act requests over the past 28 years, opened historic government secrets ranging from the CIA's "Family Jewels" to documents about the testing of stealth aircraft at Area 51, and won a series of historic lawsuits that saved hundreds of millions of White House e-mails from the Reagan through Obama presidencies, among many other achievements.
  • Director Clapper joins an undistinguished list of previous Rosemary Award winners: 2012 - the Justice Department (in a repeat performance, for failure to update FOIA regulations for compliance with the law, undermining congressional intent, and hyping its open government statistics) 2011- the Justice Department (for doing more than any other agency to eviscerate President Obama's Day One transparency pledge, through pit-bull whistleblower prosecutions, recycled secrecy arguments in court cases, retrograde FOIA regulations, and mixed FOIA responsiveness) 2010 - the Federal Chief Information Officers' Council (for "lifetime failure" to address the crisis in government e-mail preservation) 2009 - the FBI (for having a record-setting rate of "no records" responses to FOIA requests) 2008 - the Treasury Department (for shredding FOIA requests and delaying responses for decades) 2007 - the Air Force (for disappearing its FOIA requests and having "failed miserably" to meet its FOIA obligations, according to a federal court ruling) 2006 - the Central Intelligence Agency (for the biggest one-year drop-off in responsiveness to FOIA requests yet recorded).   ALSO-RANS The Rosemary Award competition in 2013 was fierce, with a host of government contenders threatening to surpass the Clapper "least untruthful" standard. These secrecy over-achievers included the following FOI delinquents:
  • Admiral William McRaven, head of the Special Operations Command for the raid that killed Osama Bin Laden, who purged his command's computers and file cabinets of all records on the raid, sent any remaining copies over to CIA where they would be effectively immune from the FOIA, and then masterminded a "no records" response to the Associated Press when the AP reporters filed FOIA requests for raid-related materials and photos. If not for a one-sentence mention in a leaked draft inspector general report — which the IG deleted for the final version — no one would have been the wiser about McRaven's shell game. Subsequently, a FOIA lawsuit by Judicial Watch uncovered the sole remaining e-mail from McRaven ordering the evidence destruction, in apparent violation of federal records laws, a felony for which the Admiral seems to have paid no price. Department of Defense classification reviewers who censored from a 1962 document on the Cuban Missile Crisis direct quotes from public statements by Soviet Premier Nikita Khrushchev. The quotes referred to the U.S. Jupiter missiles in Turkey that would ultimately (and secretly) be pulled out in exchange for Soviet withdrawal of its missiles in Cuba. The denials even occurred after an appeal by the National Security Archive, which provided as supporting material the text of the Khrushchev statements and multiple other officially declassified documents (and photographs!) describing the Jupiters in Turkey. Such absurd classification decisions call into question all of the standards used by the Pentagon and the National Declassification Center to review historical documents.
  • Admiral William McRaven memo from May 13, 2011, ordering the destruction of evidence relating to the Osama bin Laden raid. (From Judicial Watch)
  • The Department of Justice Office of Information Policy, which continues to misrepresent to Congress the government's FOIA performance, while enabling dramatic increases in the number of times government agencies invoke the purely discretionary "deliberative process" exemption. Five years after President Obama declared a "presumption of openness" for FOIA requests, Justice lawyers still cannot show a single case of FOIA litigation in which the purported new standards (including orders from their own boss, Attorney General Eric Holder) have caused the Department to change its position in favor of disclosure.
Gary Edwards

How Can the US Get Back its AAA Rating? | NewsyStocks.com - 0 views

www.newsystocks.com/...the-us-get-back-its-aaa-rating

Banksters S&P-downgrade USA-downgrade financial-collapse Obammunism

shared by Gary Edwards on 09 Aug 11 - No Cached
  • First among the recommendations of S&P 500, it expects the US government to get the federal debt down to around 60 percent or 65 percent of GDP, which has been historically around 40 percent.
  • . Its concerns were divided into two categories. First, the Americans are growing old and the cons
  • Currently, t
  • ...9 more annotations...
  • S&P had made it clear that budget cuts alone are not sufficient but taxes must be increased.
  • S&P wants the US to generate enough savings from its debt deal to stabilize the national debt so that it will no longer
  • w faster than t
  • The government requires at least $4 trillion to $5 trillion in savings over the next 10 years to achieve the debt target.
  • tinue to gro
  • ncreases in entitlement costs cannot be sustained alone by the current tax collections for programs like Social S
  • ecurity.
  • budget cuts alone are not enough to reduce deficits. So taxes have to be increased to add revenue to the Treasury.
  • A cap on spending would act as sort of a stopgap preventing lawmakers from letting party politics put a blockade in the way on necessary steps towards the economic recovery of the US.
  • Gary Edwards on 09 Aug 11
     
    S&P wants the US to generate enough savings from its debt deal to stabilize the national debt so that it will no longer continue to grow faster than the economy. Its concerns were divided into two categories. First, the Americans are growing old and the consequent increases in entitlement costs cannot be sustained alone by the current tax collections for programs like Social Security. So, the government needs to create a framework to address the costs of an aging American population. This could require an increase in the age limit at which Social Security and Medicare Benefits could be accessed and to exclude those people who have savings or jobs from both of these programs.   The other crucial area of concerns highlighted by S&P is that budget cuts alone are not enough to reduce deficits. So taxes have to be increased to add revenue to the Treasury. While increasing revenue and cutting spending will help in reducing the deficit and help in balancing the budget. A cap on spending would act as sort of a stopgap preventing lawmakers from letting party politics put a blockade in the way on necessary steps towards the economic recovery of the US.   Analysts believe that the US needs to compromise on its defence budget also, which still supports large deployments of armed forces and material overseas. The US has commitments to NATO in Afghanistan and Iraq, and the federal government believes that it needs to support strategic initiatives in place like Japan. The government has to take strong steps in its policy towards these obligations to put the country's economy back on track.   The US owes maximum of its debt to China. So the Congress needs to put pressure on the Chinese government to alter the value of its currency to make the trade between the two countries fair. Furthermore, cheap goods exported by China have caused a loss of manufacturing jobs in the US, so the latter should place tariffs on more Chinese goods as a way to raise money and prevent dumping of pro
Gary Edwards

How JP Morgan Took Over All Kentucky's Financial Services, And Why You Should Be Scared... - 0 views

www.alternet.org/...C_and_why_you_should_be_scared

Banksters JP-Morgan-Chase financial-collapse

shared by Gary Edwards on 06 Aug 11 - No Cached
  • Writing in response to the JP lawsuit on his Rolling Stone blog, Taibbi lamented that big banks were getting away with crimes that, when pulled off by blue-collar muscle outfits like the mob (and they are), result in lengthy jail sentences. Fraud on the part of JP Morgan and other corporate banks, he concluded, is “not going to stop until people start doing hard time for these crimes.”
  • Gary Edwards on 06 Aug 11
     
    On July 1, JP Morgan Chase became the Commonwealth's bank. As the state's official depository, JP now receives all deposits, writes all checks and makes all wire transfers on the $12-15 billion that flow through Kentucky state government in the course of a fiscal year. It will cut payroll checks, receive federal and other funds earmarked for the state, and disburse educational or transportation or any other funds to their appropriate monetary endpoints. For its trouble, the bank will receive $1.3 million in state fees and the ability to re-lend idle state funds out to customers for private gain. Yes, you should be worried. JP's decade A global corporation with more than $2 trillion in assets and operations in 60 countries, JP Morgan Chase has been a major figure in the ongoing global financial crisis. As one of the largest private banks in the U.S., the bank made incredible amounts of money by underwriting many of the questionable loans (sub-prime, zero down, adjustable rate) that fueled the American housing bubble. It then made even more money by packaging hundreds of these shitty loans into a single "product," a mortgage backed security, which it sold like Twinkies to pious religious non-profits, filthy-rich hedge fund managers, municipal fire-fighters, retired auto-workers, and the like, each security effectively putting these groups on the hook-and not JP-for the shitty loans that it had helped create. When, inevitably, individual homeowners began to default on their loans, thereby triggering the stock market collapse of 2008, JP Morgan found a way to make money on that, too, by buying insurance (known as credit default swaps) on the shitty securities of shitty mortgages that it had sold to unwitting investors. For good measure, the U.S. government handed the corporation $25 billion in TARP funds, $30 billion in U.S. treasury backing to purchase bankrupt Bear Stearns (previously a global leader in mortgage backed securities), and the biggest chun
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