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Startup turns carbon dioxide into fuels - 0 views

phys.org/...rtup-carbon-dioxide-fuels.html syngas synfuels energy Clean-Energy carbon dioxide
shared by Gary Edwards on 23 Feb 14 - No Cached
  • The research has received funding from the Air Force Office of Scientific Research (AFSOR), the National Science Foundation and the Department of Energy (DOE). The collaboration between Liquid Light and the University was supported by the DOE Small Business Innovation Research program and the AFOSR Small Business Technology Transfer program. Princeton's agreement with Liquid Light allowed the company to continue to collaborate with Bocarsly and his research team. Before long, new discoveries were emerging. "They started noticing interesting chemistry that we wouldn't have predicted," said Bocarsly.
  • The Princeton scientists did some additional studies, and made a surprising discovery: They could turn CO2, which contains only one carbon, into a compound with a carbon-carbon bond, which vastly increases the possibilities for creating commercial applications. This was radical because although the reaction is certainly possible, it is highly unlikely to happen because so many other competing reactions are occurring. "Everyone who electrochemically reduces CO2 today makes compounds with only one carbon," said Bocarsly. "Nobody makes things with carbon-carbon bonds." He paused. "But we can." "That was a very 'wow' moment," recalled Cole, "because we thought that our process could only make methanol. But now we were finding that we could make a variety of products, and that is what makes this technology commercially interesting." She said Liquid Light scientists can now make more than 20 different products from CO2.
  • One of the chemicals Liquid Light can make is isopropanol, commonly known as rubbing alcohol and an important industrial chemical. Another is butanol, which could be commercially important as a fuel. Liquid Light's technology offers the potential to make these chemicals at lower cost than today's methods, which involve starting with fossil fuels such as petroleum and natural gas.
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  • Why does pyridinium work so well as a catalyst for the reaction? Based on its structure, the ring-shaped molecule is an unlikely catalyst for this reaction because it shuttles just one electron at a time. But to convert CO2 to methanol requires six electrons, and to make higher-carbon molecules takes even more electrons. Bocarsly and his team — in collaboration with Steven Bernasek, professor of chemistry — are doing studies to understand the steps in the chemical reaction, and they are making rapid progress. "There are clearly some intermediate products formed during the reaction that do not sit around for a long time and are not there in very high concentrations," said Bocarsly.
  • The Princeton team also is studying the factors that determine which products can be made from CO2. The researchers have found that very subtle changes in the electrode surface can lead to production of different chemicals. For example, CO2 plus a pyridinium catalyst and a platinum electrode make methanol. However, the same catalyst and a different electrode give a different product. The team published its findings on how the reaction is affected by catalyst concentration, temperature and pressure in the journal ChemSusChem last year.
  • Citing government statistics that the United States generates about 5.5 billion metric tons of CO2 per year, Teamey said it will not be hard to obtain the starting materials for this new industry. However, the CO2 needs to be relatively pure, a requirement that rules out gasoline tailpipes and coal-fired power plants. Instead, said Teamey, the CO2 could come from manufacturing facilities, such as fertilizer manufacturers and cement plants, which according to Teamey emit some 100 million tons of high-purity CO2 each year.
  • Gary Edwards on 23 Feb 14
     
    "Today, carbon dioxide (CO2) is a hot topic. Scientists around the globe are searching for ways to store, dispose of, or prevent the formation of the greenhouse gas, which is a major driver of global climate change. Liquid Light hopes to take this concept one step further and harness waste CO2 as a source of carbon to make industrial chemicals and fuels. The technology behind the process is simple: Take CO2 and mix it in a water-filled chamber with an electrode and a catalyst. The ensuing chemical reaction converts CO2 into a new molecule, methanol, which can be used as a fuel, an industrial solvent or a starting material for the manufacture of other chemicals. Liquid Light's founders include Bocarsly and his former graduate student Emily Cole, who earned her Ph.D. from Princeton in 2009. Cole helped revive efforts in Bocarsly's lab to study the conversion of CO2 into usable fuels, which led to the launch of Liquid Light and an ongoing collaboration that Bocarsly said has been extremely positive for his research team at the University. "We've made some discoveries that wouldn't have been made in a university setting, and this has really accelerated the research," Bocarsly said. "It is a very productive relationship." Back in the 1990s, a former Ph.D. student of Bocarsly's named Chao Lin conducted some of the earliest experiments on turning CO2 into methanol. He used palladium metal as the electrode and pyridinium, an inexpensive ring-shaped molecule, as the catalyst. By plugging the electrode into an electrical outlet, he could drive an electrochemical reaction that converted CO2 into methanol. As Bocarsly recalled, Lin was quite excited about his success. However, said Bocarsly, "We published that finding in 1994 and there was approximately zero interest in it." The work languished until 2005 when Cole, then a new graduate student, told Bocarsly she wanted to work on a clean-energy project. She took up the challenge of reproducing Lin's results, but this time
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Iranians draft bill to up enrichment to 60 percent | The Times of Israel - 0 views

www.timesofisrael.com/to-up-enrichment-to-60-percent war & peace Iran Iranian-nukes-myth Israel negotiations
shared by Paul Merrell on 27 Dec 13 - No Cached
  • Iranian parliamentarians have proposed a bill to increase uranium enrichment to 60 percent in the event of new Western sanctions, the Iranian Press TV reported Wednesday. In addition to raising the enrichment level significantly, the draft, signed by 100 legislators, would resume activity at the Arak heavy water reactor.
  • “If the bill is approved, the government will be obliged to complete nuclear infrastructure at the Fordo and Natanz [enrichment facilities] if sanctions [against Iran] are ratcheted up, new sanctions are imposed, the country’s nuclear rights are violated and the Islamic Republic of Iran’s peaceful nuclear rights are ignored by members of the P5+1,” Seyyed Mehdi Mousavinejad, an Iranian lawmaker, said on Wednesday, according to Press TV.
  • The new bill would be in direct violation of the November 24 interim agreement forged between Iran and six world powers, under which Tehran agreed to halt work at Arak, cap its enrichment at five percent, and neutralize its stockpile of 20% enriched uranium. That agreement has not yet been implemented, because the sides still have to resolve “technical details.” The proposal also serves as a message to world powers about the Iranian commitment to advancing the nuclear program, lawmakers said. “The bill is aimed at giving an upper hand to our government and the negotiating team… It will allow the government to continue our nuclear program if the Geneva deal fails,” Hossein Taghavi Hosseini, spokesman for parliament’s National Security and Foreign Affairs committee, said, according to IRNA.
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  • The bill was presented to the parliament’s presiding board and will be voted on at a later date, Iranian media reported. The drafting of the bill came days after a group of US senators proposed The Nuclear Weapon Free Iran Act, which would ramp up sanctions against Iran in the event that the Islamic Republic violates the interim deal, or should later nuclear talks fail to produce a long-term agreement.
  • Paul Merrell on 27 Dec 13
     
    Hawks on all fronts trying to blow up the negotiations with Iran, including inside Iran. However, the article errs somewhat in stating that the Iranian bill would violate the interim agreement between Iran and the PF+1 nations. The bill as reported would only take effect if new sanctions are adopted by the U.S. In the interim agreement, Obama committed to vetoing any new sanctions enacted during the period of the interim agreement. So the actual position of the Iranian legislators is that the U.S. has to violate the agreement before the bill would take effect.   But I think this is a blunder anyway. Iran has no need to enrich uranium beyond 20 per cent, which is the maximum allowed under the Nuclear Nonproliferation Agreement. This bit of grandstanding will be used by Iran's enemies as "proof" that Iran has nuclear weapon ambitions.   However, I'm sensitive to the fact that this is an article in The Times of Israel, which often puts a rather overt Zionist spin on news. I'll be watching for less prejudiced sources on this issue.
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Big Oil's "Sore Losers" Lead the Drive to War » CounterPunch: Tells the Facts... - 0 views

www.counterpunch.org/...e-losers-lead-the-drive-to-war war & peace Ukraine Russia U.S.-foreign-policy pipelinestan reserve currrencies
shared by Paul Merrell on 14 Mar 14 - No Cached
  • Following a 13 year rampage that has reduced large swathes of Central Asia and the Middle East to anarchy and ruin, the US military juggernaut has finally met its match on a small peninsula in southeastern Ukraine that serves as the primary operating base for Russia’s Black Sea Fleet. Crimea is the door through which Washington must pass if it intends to extend its forward-operating bases throughout Eurasia, seize control of vital pipeline corridors and resources, and establish itself as the dominant military/economic power-player in the new century. Unfortunately, for Washington, Moscow has no intention of withdrawing from the Crimea or relinquishing control of its critical military outpost in Sevastopol. That means that the Crimea–which has been invaded by the Cimmerians, Bulgars, Greeks, Scythians, Goths, Huns, Khazars, Ottomans, Turks, Mongols, and Germans–could see another conflagration in the months ahead, perhaps, triggering a Third World War, the collapse of the existing global security structure, and a new world order, albeit quite different from the one imagined by the fantasists at the Council on Foreign Relations and the other far-right think tanks that guide US foreign policy and who are responsible for the present crisis.
  • How Washington conducts itself in this new conflict will tell us whether the authors of the War on Terror–that public relations hoax that concealed the goals of eviscerated civil liberties and one world government–were really serious about actualizing their NWO vision or if it was merely the collective pipedream of corporate CEOs and bored bankers with too much time on their hands. In the Crimea, the empire faces a real adversary, not a disparate group of Kalashinov-waving jihadis in flip-flops. This is the Russian Army; they know how to defend themselves and they are prepared to do so. That puts the ball in Obama’s court. It’s up to him and his crackpot “Grand Chessboard” advisors to decide how far they want to push this. Do they want to intensify the rhetoric and ratchet up the sanctions until blows are exchanged, or pick up their chips and walk away before things get out of hand? Do they want to risk it all on one daredevil roll of the dice or move on to Plan B? That’s the question. Whatever US policymakers decide, one thing is certain, Moscow is not going to budge. Their back is already against the wall. Besides, they know that a lunatic with a knife is on the loose, and they’re ready to do whatever is required to protect their people. If Washington decides to cross that line and provoke a fight, then there’s going to trouble. It’s as simple as that. Perma-hawk, John McCain thinks that Obama should take off the gloves and show Putin who’s boss. In an interview with TIME magazine McCain said “This is a chess match reminiscent of the Cold War and we need to realize that and act accordingly…We need to take certain measures that would convince Putin that there is a very high cost to actions that he is taking now.” “High cost” says McCain, but high cost for who?
  • What McCain fails to realize is that this is not Afghanistan and Obama is not in a spitting match with puppet Karzai. Leveling sanctions against Moscow will have significant consequences, the likes of which could cause real harm to US interests. Did we mention that “ExxonMobil’s biggest non-US oil project is a collaboration with Russia’s Rosneft in the Arctic, where it has billions of dollars of investments at stake.” What if Putin decides that it’s no longer in Moscow’s interest to honor contracts that were made with US corporations? What do you think the reaction of shareholders will be to that news? And that’s just one example. There are many more. Any confrontation with Russia will result in asymmetrical attacks on the dollar, the bond market, and oil supplies. Maybe the US could defeat Russian forces in the Crimea. Maybe they could sink the fleet and rout the troops, but there’ll be a heavy price to pay and no one will be happy with the outcome.
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  • Here’s a clip from an article at Testosterone Pit that sums it up nicely: “Sergei Glazyev, the most hardline of Putin’s advisors, sketched the retaliation strategy: Drop the dollar, sell US Treasuries, encourage Russian companies to default on their dollar-denominated debts, and create an alternative currency system with the BRICS and hydrocarbon producers like Venezuela and Iran… Putin’s ally and trusted friend, Rosneft president Igor Sechin…suggested that it was “advisable to create an international stock-exchange for the participating countries, where transactions could be registered with the use of regional currencies.” (From Now On, No Compromises Are Possible For Russia, Testosterone Pit)
  • As the US continues to abuse its power, these changes become more and more necessary. Foreign governments must form new alliances in order to abandon the present system–the “dollar system”–and establish greater parity between nation-states, the very nation-states that Washington is destroying one-by-one to establish its ghoulish vision of global corporate utopia. The only way to derail that project is by exposing the glaring weakness in the system itself, which is the use of an international currency that is backed by $15 trillion in government debt, $4 trillion in Federal Reserve debt, and trillions more in unpaid and unpayable federal obligations. Whatever steps Moscow takes to abort the current system and replace the world’s reserve currency with money that represents a fair store of value, should be applauded. Washington’s reckless and homicidal behavior around the world make it particularly unsuitable as the de facto steward of the global financial system or to enjoy seigniorage, which allows the US to play banker to the rest of the world. The dollar is the foundation upon which rests the three pillars of imperial strength; political, economic and military. Remove that foundation and the entire edifice comes crashing to earth. Having abused that power, by killing and maiming millions of people across the planet; the world needs to transition to another, more benign way of consummating its business transactions, preferably a currency that is not backed by the blood and misery of innocent victims.
  • Paul Volcker summed up the feelings of many dollar-critics in 2010 when he had this to say: “The growing sense around much of the world is that we have lost both relative economic strength and more important, we have lost a coherent successful governing model to be emulated by the rest of the world. Instead, we’re faced with broken financial markets, underperformance of our economy and a fractious political climate.” America is irreparably broken and Washington is a moral swamp. The world needs regime change; new leaders, new direction and a different system.
  • In our last article, we tried to draw attention to the role of big oil in the present crisis. Author Nafeez Ahmed expands on that theme in a “must read” article in Monday’s Guardian. Check out this brief excerpt from Ahmed’s piece titled “Ukraine crisis is about Great Power oil, gas pipeline rivalry”: “Ukraine is increasingly perceived to be critically situated in the emerging battle to dominate energy transport corridors linking the oil and natural gas reserves of the Caspian basin to European markets… Considerable competition has already emerged over the construction of pipelines. Whether Ukraine will provide alternative routes helping to diversify access, as the West would prefer, or ‘find itself forced to play the role of a Russian subsidiary,’ remains to be seen.” (Guardian) The western oil giants have been playing “catch up” for more than a decade with Putin checkmating them at every turn. As it happens, the wily KGB alum has turned out to be a better businessman than any of his competitors, essentially whooping them at their own game, using the free market to extend his network of pipelines across Central Asia and into Europe. That’s what the current crisis is all about.
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1913: The Blow That Killed America 100 Years Ago - 0 views

www.freemansperspective.com/1913-america 1913 Woodrow-Wilson Nelson-Aldrich Rockefeller Bilderbergs ruling-class-elites
shared by Gary Edwards on 15 Aug 13 - No Cached
  • Gary Edwards on 15 Aug 13
     
    "There is a lot of ruin in a nation," wrote Adam Smith. His point was that it takes a long time for nations to fall, even when they're dead on their feet. And he was certainly right. America took its fatal blow in 1913, one hundred years ago; it just hasn't hit the ground yet. This is a slow process, but it's actually fast compared to the Romans. It took them several centuries to collapse . The confusing thing about our current situation is that America - and by that I mean the noble America that so many of us grew up believing was real - has long been poisoned. Its liver, kidneys, and spleen have all stopped functioning. Its heart beats slowly and irregularly. But it still stands on its feet and presents itself as alive to all those who would let their eyes fool them. And I'm not without sympathy for those who want to believe. They find themselves in a world where politics is almighty, and where their comfort, prosperity, and perhaps their survival all hang in a delicate balance. They don't want to upset anything, and questioning the bosses is a good way to get yelled at. But just because someone wants to believe doesn't make it so. We are not children and we are not powerless. We Producers should never be intimidated by those who live at our expense. So let's start looking at the facts. 1913: The Horrible Year For all the problems America had prior to 1913 (including the unnecessary and horrifying Civil War), nothing spelled the death of the nation like the horrors of 1913. Here are the key dates: February 3rd : The 16th Amendment to the United States Constitution was ratified, authorizing the Federal government to impose income taxes on individuals. An amendment to a tariff act in 1894 had attempted to do this, but since it was clearly unconstitutional, the Supreme Court struck it down. As a result - and mostly under the banner of bleeding the rich - the 16th amendment was promoted and passed. As a result, the Revenue Act of 1
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What the hell just happened? 'Tyranny By Executive Order' | by Constitutional Attorney ... - 0 views

www.redflagnews.com/...l-attorney-michael-connelly-jd Tyranny-by-Executive-Order
shared by Gary Edwards on 18 Aug 13 - No Cached
  • Gary Edwards on 18 Aug 13
     
    "What the hell just happened? That is the question that many Americans should be asking themselves following the news conference where Obama unveiled his plan for destroying the Bill of Rights to the U.S. Constitution. At first glance it appeared to be a case of Obama shamelessly using the deaths of innocents, and some live children as a backdrop, to push for the passage of radical gun control measures by Congress. Most of these have no chance of passing, yet, Obama's signing of Executive orders initiating 23 so called Executive actions on gun control seemed like an afterthought. Unfortunately, that is the real story, but it is generally being overlooked. The fact is that with a few strokes of his pen Obama set up the mechanisms he will personally use to not only destroy the Second Amendment to the Constitution, but also the First, Fourth, and Fifth Amendments. It will not matter what Congress does, Obama can and will act on his own, using these Executive actions, and will be violating both the Constitution and his oath of office when he does it. Here are the sections of the Executive Order that he will use: "1. Issue a Presidential Memorandum to require federal agencies to make relevant data available to the federal background-check system." What exactly is relevant data? Does it include our medical records obtained through Obamacare, our tax returns, our political affiliations, our military background, and our credit history? I suggest that all of the above, even if it violates our fourth Amendment right to privacy will now be relevant data for determining if we are allowed to purchase a firearm. "2. Address unnecessary legal barriers, particularly relating to the Health Insurance Portability and Accountability Act, that may prevent states from making information available to the background-check system." This should be read in conjunction with section 16 of the order that says: "16. Clarify that the Affordable Care Act does not prohibit doctors
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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
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"War is a Racket" by General Smedly Butler - 1 views

www.lexrex.com/...warisaracket.htm Smedly-Butler
shared by Gary Edwards on 16 Sep 13 - Cached
  • by MAJOR GENERAL SMEDLEY D. BUTLER, USMC - Retired TWO-TIME Congressional Medal of Honor Recipient FULL TEXT ON LINE FREE
  • GET THE NEW PAPERBACK EDITION including two bonus titles.
  • Paul Merrell on 16 Sep 13
     
    An accidental find, the full text online of USMC Maj. Gen. Smedley Butler's 1935 book, War Is a Racket. Butler served in the Marine Corps from 1899 to 1931 and at the time of his retirement was the most-decorated Marine in history, for both valor and accomplishments. Following his retirement, he became a vehement anti-war activist and public speaker.  This book is easily his most-cited and most-quoted published work. You can capture the flavor from an article he published in a magazine that included the following lines: "I spent 33 years and four months in active military service and during that period I spent most of my time as a high class muscle man for Big Business, for Wall Street and the bankers. In short, I was a racketeer, a gangster for capitalism. I helped make Mexico and especially Tampico safe for American oil interests in 1914. I helped make Haiti and Cuba a decent place for the National City Bank boys to collect revenues in. I helped in the raping of half a dozen Central American republics for the benefit of Wall Street. I helped purify Nicaragua for the International Banking House of Brown Brothers in 1902-1912. I brought light to the Dominican Republic for the American sugar interests in 1916. I helped make Honduras right for the American fruit companies in 1903. In China in 1927 I helped see to it that Standard Oil went on its way unmolested. Looking back on it, I might have given Al Capone a few hints. The best he could do was to operate his racket in three districts. I operated on three continents." http://en.wikipedia.org/wiki/Smedley_Butler#Lectures  I look forward to reading this book. The book was reprinted in 2003 and is available from the linked web site, together with two bonus titles. 
  • Gary Edwards on 18 Sep 13
     
    "WAR IS A RACKET" - free online book CHAPTER ONE WAR is a racket. It always has been. It is possibly the oldest, easily the most profitable, surely the most vicious. It is the only one international in scope. It is the only one in which the profits are reckoned in dollars and the losses in lives. A racket is best described, I believe, as something that is not what it seems to the majority of the people. Only a small "inside" group knows what it is about. It is conducted for the benefit of the very few, at the expense of the very many. Out of war a few people make huge fortunes. In the World War [I] a mere handful garnered the profits of the conflict. At least 21,000 new millionaires and billionaires were made in the United States during the World War. That many admitted their huge blood gains in their income tax returns. How many other war millionaires falsified their tax returns no one knows. How many of these war millionaires shouldered a rifle? How many of them dug a trench? How many of them knew what it meant to go hungry in a rat-infested dug-out? How many of them spent sleepless, frightened nights, ducking shells and shrapnel and machine gun bullets? How many of them parried a bayonet thrust of an enemy? How many of them were wounded or killed in battle? Out of war nations acquire additional territory, if they are victorious. They just take it. This newly acquired territory promptly is exploited by the few - the selfsame few who wrung dollars out of blood in the war. The general public shoulders the bill. And what is this bill? This bill renders a horrible accounting. Newly placed gravestones. Mangled bodies. Shattered minds. Broken hearts and homes. Economic instability. Depression and all its attendant miseries. Back-breaking taxation for generations and generations. For a great many years, as a soldier, I had a suspicion that war was a racket; not until I retired to civil life did I fully realize it. Now that I see the international war clouds g
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Who owns the Bank of England? |Dark Politricks - 0 views

www.darkpolitricks.com/...who-owns-the-bank-of-england banksters Banksters-of-America Rothschild-Bank-of-England
shared by Gary Edwards on 21 Sep 13 - No Cached
  • Gary Edwards on 21 Sep 13
     
    "Who owns the Bank of England? A brief history of World Banksters By Dark Politricks First a few historical comments by people who helped create two of the worlds most famous central banks, the Bank of England and the Federal Reserve. "I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated Governments in the civilized world no longer a Government by free opinion, no longer a Government by conviction and the vote of the majority, but a Government by the opinion and duress of a small group of dominant men." - Woodrow Wilson, after signing the Federal Reserve into existence The Bank of England was created in 1694 by a Scotsman William Paterson who famously said: The bank hath benefit of interest on all moneys which it creates out of nothing. - William Paterson The history of the Bank of England and how it was taken over by one powerful family hundreds of years ago. Up until 1946 when it was nationalised the Bank of England was a private run bank that lent money it created out of nothing to the English government and was paid back with interest. A very famous story relates to the Bank of England and the infamous Rothschilds, that all powerful banking family. This story was re-told recently in a BBC documentary about the creation of money and the Bank of England. It revolves around the Battle of Waterloo in which Nathan Rothschild used his inside knowledge of the outcome and his faster horses and couriers to play the market by getting the result of the battle before anyone else knew the outcome. He quickly sold his English bonds and gave all the traders who looked to him for guidance the impression that the French had won at Waterloo. The other traders all rus
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IPS - Lavrov Reveals Amended Draft Circulated at "Last Moment" | Inter Press Service - 0 views

www.ipsnews.net/...raft-circulated-at-last-moment war & peace arms-control-law Iran Iranian nukes myth Kerry Obama Israel France Saudis whodunnit
shared by Paul Merrell on 16 Nov 13 - No Cached
  • Nov 15 2013 (IPS) - Russian Foreign Minister Sergey Lavrov revealed a crucial detail Thursday about last week’s nuclear talks with Iran in Geneva that explains much more clearly than previous reports why the meeting broke up without agreement. Lavrov said the United States circulated a draft that had been amended in response to French demands to other members of the six-power P5+1 for approval “literally at the last moment, when we were about to leave Geneva.” Lavrov’s revelation, which has thus far been ignored by major news outlets, came in a news conference in Cairo Thursday that was largely devoted to Egypt and Syria. Lavrov provided the first real details about the circumstances under which Iran left Geneva without agreeing to the draft presented by the P5+1.
  • The full quote from Lavrov’s press conference is available thanks to the report from Voice of Russia correspondent Ksenya Melnikova. Lavrov noted that unlike previous meetings involving the P5+1 and Iran, “This time, the P5+1 group did not formulate any joint document.” Instead, he said, “There was an American-proposed draft, which eventually received Iran’s consent.” Lavrov thus confirmed the fact that the United States and Iran had reached informal agreement on a negotiating text. He further confirmed that Russia had been consulted, along with the four other powers in the negotiations with Iran (China, France, Germany and the UK), about that draft earlier in the talks –- apparently Thursday night, from other published information. “We vigorously supported this draft,” Lavrov said. “If this document had been supported by all [members of the P5+1], it would have already been adopted. We would probably already be in the initial stages of implementing the agreements that were offered by it.”
  • Then Lavrov revealed for the first time that the U.S. delegation had made changes in the negotiating text that had already been worked out with Iran at the insistence of France without having consulted Russia. “But amendments to [the negotiating draft] suddenly surfaced,” Lavrov said. “We did not see them. And the amended version was circulated literally at the last moment, when we were about to leave Geneva.” Lavrov implies that the Russian delegation, forced to make a quick up or down decision on the amended draft, did not realise the degree to which it was likely to cause the talks to fail. “At first sight, the Russian delegation did not notice any significant problems in the proposed amendments,” Lavrov said. He made it clear, however, that he now considers the U.S. maneuvre in getting the six powers on board a draft that had been amended with tougher language – even if softened by U.S. drafters — without any prior consultation with Iran to have been a diplomatic blunder.
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  • “[N]aturally, the language of these ideas should be acceptable for all the participants in this process – both the P5+1 group and Iran,” Lavrov said. The crucial details provided by Lavrov on the timing of the amended draft shed new light on Secretary of State John Kerry’s claim in a press conference in Abu Dhabi on Monday of unity among the six powers on the that draft. “We were unified on Saturday when we presented a proposal to the Iranians.” Kerry said, adding that “everybody agreed it was a fair proposal.” Kerry gave no indication of when on Saturday that proposal had been approved by the other five powers, nor did he acknowledge explicitly that it was a draft that departed from the earlier draft agreed upon with Iran. Lavrov’s remarks make it clear that the other members of the group had little or no time to study or discuss the changes before deciding whether to go along with it.
  • Although the nature of the changes in the amended draft remain a secret, Iranian Foreign Minister Mohammad Javad Zarif has charged that they were quite far-reaching and that they affected far more of the draft agreement that had been worked out between the United States and Iran than had been acknowledged by any of the participants. In tweets on Tuesday, Zarif, responding to Kerry’s remarks in Abu Dhabi, wrote, “Mr. Secretary, was it Iran that gutted over half of US draft Thursday night?” Zarif’s comments indicated that changes of wording had nullified the previous understanding that had been reached between the United States and Iran on multiple issues.
  • Zarif’s tweet, combined with remarks by President Hassan Rouhani to the national assembly Sunday warning that Iran’s rights to enrichment are “red lines” that could not be crossed, suggests further that the language of the original draft agreement dealing with the “end game” of the negotiating process was also changed on Saturday. Kerry himself alluded to the issue in his remarks in Abu Dhabi, using the curious formulation that no nation has an “existing right to enrich.” One of the language changes in the agreement evidently related to that issue, and it was aimed at satisfying a demand of Israeli origin at the expense of Iran’s support for the draft. Now the Obama administration will face a decision whether to press Iran to go along with those changes or to go back to the original compromise when political directors of the six powers and Iran reconvene Nov. 20. That choice will provide the key indicator of how strongly committed Obama is to reaching an agreement with Iran.
  • Paul Merrell on 16 Nov 13
     
    The article adds more detail than quoted. The picture that emerges is that John Kerry and French foreign minister Laurent Fabius carried water for the Israelis and Saudis to blow up the negotiation at the last moment, after all sides had preliminarily agreed to a text, by substituting a new and very substantially different text without consulting the other P-5+1 members or Iran. That is a down and dirty negotiation tactic; no wonder the negotiation failed. It should be kept in mind that the Israeli and Saudi governments' real goal is not halting Iran's development of a nuclear industry but is instead to persuade or trick the U.S. into bombing Iran back into the Stone Age, as the U.S. did to Iraq in the early 1990s under Emperor Bush 1 with a repeat performance by Emperor Bush II a decade later.  As to Kerry's preposterous claim that no nation has a right to enrich uranium, in reality every nation has that right jus cogens, with the only limitations being on nations that are members of the Non-Proliferation Treaty, which nations still retain the right to enrich up to 20 percent as Iran has been doing. Claims to the contrary are either misinformed or mere false propaganda. See http://armscontrollaw.com/2013/11/07/scope-meaning-and-juridical-implication-of-the-npt-article-iv1-inalienable-right/
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BOMBSHELL! Jim Garrow Reveals Career As Covert CIA Operative, Says Breitbart ... - 1 views

www.nowtheendbegins.com/blog Obammunism Banksters New-World-Order Globalist
shared by Gary Edwards on 09 Oct 13 - No Cached
  • Gary Edwards on 09 Oct 13
     
    Links to radio interview. Excerpts below: "As a long-time friend and guest on NTEB Radio, we know Dr. Garrow to be a previous Nobel Peace Prize nominee and executive director of the Bethune Institute's Pink Pagoda Girls school and rescue outreach in China. But on our show tonight, Dr. Garrow made the amazing revelation that he had, in fact, right up until this past Wednesday night at midnight, spent 45 years as a covert CIA operative. Garrow said that as a result of his "litmus test" statement in January, he was outed from the agency by Obama, and forced to accept early retirement. But the revelations didn't stop there. In addition to revealing that Andrew Breitbart had been killed under orders from Obama administration officials, he also said that spy thriller novelist Tom Clancy had also be killed in much the same way, and for the same reasons. Garrow said that Clancy had been spoon fed inside information for years from covert operatives for his novels, and he knew too much. Interestingly, when asked about where he got his ideas for his novels, Clancy had said this before he died: ""I hang my hat on getting as many things right as I can," Mr. Clancy once said in an interview. "I've made up stuff that's turned out to be real - that's the spooky part." NY Times A little too real, as it turns out. Dr. Garrow said the reason no autopsy was performed for the first 5 days is that it 'takes that long for the chemicals he was poisoned with to work their way out of his body'. Lastly, he revealed that Obama's administration was made up of Marxist Muslims who all take their orders from Senior Adviser to the President, Iranian-born Valerie Jarrett. Dr. Garrow said that it is well known to intelligence agencies all over the world that Obama is a foreign plant who was placed on the path to the presidency by ultra-rich Saudi nationals This is why, Garrow said, that all of Obama's education records have been permanently sealed. Garrow p
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The American Deep State, Deep Events, and Off-the-Books Financing | Global Research - 0 views

www.globalresearch.ca/...5376904 banksters CIA 9-11 arms-deals opium congtinuity-of-government
shared by Paul Merrell on 07 Apr 14 - No Cached
  • It is alleged that some of the bail money that released Sturgis and the other Watergate burglars was drug money from the CIA asset turned drug trafficker, Manuel Artime, and delivered by Artime’s money-launderer, Ramón Milián Rodríguez. After the Iran-Contra scandal went public, Milián Rodríguez was investigated by a congressional committee – not for Watergate, but because, in support of the Contras, he had managed two Costa Rican seafood companies, Frigorificos and Ocean Hunter, that laundered drug money.6
  • In the 1950s Wall Street was a dominating complex. It included not just banks and other financial institutions but also the oil majors whose cartel arrangements were successfully defended against the U.S. Government by the Wall Street law firm Sullivan and Cromwell, home to the Dulles brothers. The inclusion of Wall Street conforms with Franklin Roosevelt’s observation in 1933 to his friend Col. E.M. House that “The real truth … is, as you and I know, that a financial element in the larger centers has owned the Government ever since the days of Andrew Jackson.”18 FDR’s insight is well illustrated by the efficiency with which a group of Wall Street bankers (including Nelson Rockefeller’s grandfather Nelson Aldrich) were able in a highly secret meeting in 1910 to establish the Federal Reserve System – a system which in effect reserved oversight of the nation’s currency supply and of all America’s banks in the not impartial hands of its largest.19 The political clout of the quasi-governmental Federal Reserve Board was clearly demonstrated in 2008, when Fed leadership secured instant support from two successive administrations for public money to rescue the reckless management of Wall Street banks: banks Too Big To Fail, and of course far Too Big To Jail, but not Too Big To Bail.20
  • since its outset, the CIA has always had access to large amounts of off-the books or offshore funds to support its activities. Indeed, the power of the purse has usually worked in an opposite sense, since those in control of deep state offshore funds supporting CIA activities have for decades also funded members of Congress and of the executive – not vice versa. The last six decades provide a coherent and continuous picture of historical direction being provided by this deep state power of the purse, trumping and sometimes reversing the conventional state. Let us resume some of the CIA’s sources of offshore and off-the-books funding for its activities. The CIA’s first covert operation was the use of “over $10 million in captured Axis funds to influence the [Italian] election [of 1948].”25 (The fundraising had begun at the wealthy Brook Club in New York; but Allen Dulles, then still a Wall Street lawyer, persuaded Washington, which at first had preferred a private funding campaign, to authorize the operation through the National Security Council and the CIA.)26 Dulles, together with George Kennan and James Forrestal, then found a way to provide a legal source for off-the-books CIA funding, under the cover of the Marshall Plan. The three men “helped devise a secret codicil [to the Marshall Plan] that gave the CIA the capability to conduct political warfare. It let the agency skim millions of dollars from the plan.”27
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  • The international lawyers of Wall Street did not hide from each other their shared belief that they understood better than Washington the requirements for running the world. As John Foster Dulles wrote in the 1930s to a British colleague, The word “cartel” has here assumed the stigma of a bogeyman which the politicians are constantly attacking. The fact of the matter is that most of these politicians are highly insular and nationalistic and because the political organization of the world has under such influence been so backward, business people who have had to cope realistically with international problems have had to find ways for getting through and around stupid political barriers.21
  • In the 1960s and especially the 1970s America began to import more and more oil from the Middle East. But the negative effect on the U.S. balance of payments was offset by increasing arms and aviation sales to Iran and Saudi Arabia. Contracts with companies like Northrop and especially Lockheed (the builder of the CIA’s U-2) included kickbacks to arms brokers, like Kodama Yoshio in Japan and Adnan Khashoggi in Saudi Arabia, who were also important CIA agents. Lockheed alone later admitted to the Church Committee that it had provided $106 million in commissions to Khashoggi between 1970 and 1975, more than ten times what it had paid to the next most important connection, Kodama.31 These funds were then used by Khashoggi and Kodama to purchase pro-Western influence. But Khashoggi, advised by a team of ex-CIA Americans like Miles Copeland and Edward Moss, distributed cash, and sometimes provided women, not just in Saudi Arabia but around the world – including cash to congressmen and President Nixon in the United States.32 Khashoggi in effect served as a “cutout,” or representative, in a number of operations forbidden to the CIA and the companies he worked with. Lockheed, for one, was conspicuously absent from the list of military contractors who contributed illicitly to Nixon’s 1972 election campaign. But there was no law prohibiting, and nothing else to prevent their official representative, Khashoggi, from cycling $200 million through the bank of Nixon’s friend Bebe Rebozo.33
  • The most dramatic use of off-the-books drug profits to finance foreign armies was seen in the 1960s CIA-led campaign in Laos. There the CIA supplied airstrips and planes to support a 30,000-man drug-financed Hmong army. At one point Laotian CIA station chief Theodore Shackley even called in CIA aircraft in support of a ground battle to seize a huge opium caravan on behalf of the larger Royal Laotian Army.30
  • At the time of the Marshall Plan slush fund in Europe, the CIA also took steps which resulted in drug money to support anti-communist armies in the Far East. In my book American War Machine I tell how the CIA, using former OSS operative Paul Helliwell, created two proprietary firms as infrastructure for a KMT army in Burma, an army which quickly became involved in managing and developing the opium traffic there. The two firms were SEA Supply Inc. in Bangkok and CAT Inc. (later Air America) in Taiwan. Significantly, the CIA split ownership of CAT Inc.’s plane with KMT bankers in Taiwan – this allowed the CIA to deny responsibility for the flights when CAT planes, having delivered arms from Sea Supply to the opium-growing army, then returned to Taiwan with opium for the KMT. Even after the CIA officially severed its connection to the KMT Army in 1953, its proprietary firm Sea Supply Inc. supplied arms for a CIA-led paramilitary force, PARU, that also was financed, at least in part, by the drug traffic.28 Profits from Thailand filtered back, in part through the same Paul Helliwell, as donations to members from both parties in Congress. Thai dictator Phao Sriyanon, a drug trafficker who was then alleged to be the richest man in the world, hired lawyer Paul Helliwell…as a lobbyist in addition to [former OSS chief William] Donovan [who in 1953-55 was US Ambassador to Thailand]. Donovan and Helliwell divided the Congress between them, with Donovan assuming responsibility for the Republicans and Helliwell taking the Democrats.29
  • The power exerted by Khashoggi was not limited to his access to funds and women. By the 1970s, Khashoggi and his aide Edward Moss owned the elite Safari Club in Kenya.34 The exclusive club became the first venue for another and more important Safari Club: an alliance between Saudi and other intelligence agencies that wished to compensate for the CIA’s retrenchment in the wake of President Carter’s election and Senator Church’s post-Watergate reforms.35
  • As former Saudi intelligence chief Prince Turki bin Faisal once told Georgetown University alumni, In 1976, after the Watergate matters took place here, your intelligence community was literally tied up by Congress. It could not do anything. It could not send spies, it could not write reports, and it could not pay money. In order to compensate for that, a group of countries got together in the hope of fighting Communism and established what was called the Safari Club. The Safari Club included France, Egypt, Saudi Arabia, Morocco, and Iran.36 Prince Turki’s candid remarks– “your intelligence community was literally tied up by Congress. …. In order to compensate for that, a group of countries got together … and established what was called the Safari Club.” – made it clear that the Safari Club, operating at the level of the deep state, was expressly created to overcome restraints established by political decisions of the public state in Washington (decisions not only of Congress but also of President Carter).
  • Specifically Khashoggi’s activities involving corruption by sex and money, after they too were somewhat curtailed by Senator Church’s post-Watergate reforms, appear to have been taken up quickly by the Bank of Credit and Commerce International (BCCI), a Muslim-owned bank where Khashoggi’s friend and business partner Kamal Adham, the Saudi intelligence chief and a principal Safari Club member, was a part-owner.37 In the 1980s BCCI, and its allied shipping empire owned by the Pakistani Gokal brothers, supplied financing and infrastructure for the CIA’s (and Saudi Arabia’s) biggest covert operation of the decade, support for the Afghan mujahedin. To quote from a British book excerpted in the Senate BCCI Report: “BCCI’s role in assisting the U.S. to fund the Mujaheddin guerrillas fighting the Soviet occupation is drawing increasing attention. The bank’s role began to surface in the mid-1980′s when stories appeared in the New York Times showing how American security operatives used Oman as a staging post for Arab funds. This was confirmed in the Wall Street Journal of 23 October 1991 which quotes a member of the late General Zia’s cabinet as saying ‘It was Arab money that was pouring through BCCI.’ The Bank which carried the money on from Oman to Pakistan and into Afghanistan was National Bank of Oman, where BCCI owned 29%.”38
  • In 1981 Vice-president Bush and Saudi Prince Bandar, working together, won congressional approval for massive new arms sales of AWACS (airborne warning and control system) aircraft to Saudi Arabia. In the $5.5 billion package, only ten percent covered the cost of the planes. Most of the rest was an initial installment on what was ultimately a $200 billion program for military infrastructure through Saudi Arabia.41 It also supplied a slush fund for secret ops, one administered for over a decade in Washington by Prince Bandar, after he became the Saudi Ambassador (and a close friend of the Bush family, nicknamed “Bandar Bush”). In the words of researcher Scott Armstrong, the fund was “the ultimate government-off-the-books.” Not long after the AWACS sale was approved, Prince Bandar thanked the Reagan administration for the vote by honoring a request by William Casey that he deposit $10 million in a Vatican bank to be used in a campaign against the Italian Communist Party. Implicit in the AWACS deal was a pledge by the Saudis to fund anticommunist guerrilla groups in Afghanistan, Angola, and elsewhere that were supported by the Reagan Administration.42 The Vatican contribution, “for the CIA’s long-time clients, the Christian Democratic Party,” of course continued a CIA tradition dating back to 1948.
  • The activities of the Safari Club were exposed after Iranians in 1979 seized the records of the US Embassy in Tehran. But BCCI support for covert CIA operations, including Iran-Contra, continued until BCCI’s criminality was exposed at the end of the decade. Meanwhile, with the election of Ronald Reagan in 1980, Washington resumed off-budget funding for CIA covert operations under cover of arms contracts to Saudi Arabia. But this was no longer achieved through kickbacks to CIA assets like Khashoggi, after Congress in 1977 made it illegal for American corporations to make payments to foreign officials. Instead arrangements were made for payments to be returned, through either informal agreements or secret codicils in the contracts, by the Saudi Arabian government itself. Two successive arms deals, the AWACS deal of 1981 and the al-Yamamah deal of 1985, considerably escalated the amount of available slush funds.
  • It is reported in two books that the BCCI money flow through the Bank of Oman was handled in part by the international financier Bruce Rappaport, who for a decade, like Khashoggi, kept a former CIA officer on his staff.39 Rappaport’s partner in his Inter Maritime Bank, which interlocked with BCCI, was E.P. Barry, who earlier had been a partner in the Florida money-laundering banks of Paul Helliwell.40
  • After a second proposed major U.S. arms sale met enhanced opposition in Congress in 1985 from the Israeli lobby, Saudi Arabia negotiated instead a multi-billion pound long-term contract with the United Kingdom – the so-called al-Yamamah deal. Once again overpayments for the purchased weapons were siphoned off into a huge slush fund for political payoffs, including “hundreds of millions of pounds to the ex-Saudi ambassador to the US, Prince Bandar bin Sultan.”43 According to Robert Lacey, the payments to Prince Bandar were said to total one billion pounds over more than a decade.44 The money went through a Saudi Embassy account in the Riggs Bank, Washington; according to Trento, the Embassy’s use of the Riggs Bank dated back to the mid-1970s, when, in his words, “the Saudi royal family had taken over intelligence financing for the United States.”45 More accurately, the financing was not for the United States, but for the American deep state.
  • This leads me to the most original and important thing I have to say. I believe that these secret funds from BCCI and Saudi arms deals – first Khashoggi’s from Lockheed and then Prince Bandar’s from the AWACS and al-Yamamah deals – are the common denominator in all of the major structural deep events (SDEs) that have afflicted America since the supranational Safari Club was created in l976. I am referring specifically to 1) the covert US intervention in Afghanistan (which started about 1978 as a Safari Club intervention, more than a year before the Russian invasion), 2) the 1980 October Surprise, which together with an increase in Saudi oil prices helped assure Reagan’s election and thus give us the Reagan Revolution, 3) Iran-Contra in 1984-86, 4) and – last but by no means least – 9/11. That is why I believe it is important to analyze these events at the level of the supranational deep state. Let me just cite a few details.
  • 1) the 1980 October Surprise. According to Robert Parry, Alexandre de Marenches, the principal founder of the Safari Club, arranged for William Casey (a fellow Knight of Malta) to meet with Iranian and Israeli representatives in Paris in July and October 1980, where Casey promised delivery to Iran of needed U.S. armaments, in exchange for a delay in the return of the U.S. hostages in Iran until Reagan was in power. Parry suspects a role of BCCI in both the funding of payoffs for the secret deal and the subsequent flow of Israeli armaments to Iran.46 In addition, John Cooley considers de Marenches to be “the Safari Club player who probably did most to draw the US into the Afghan adventure.”47 2) the Iran-Contra scandal (including the funding of the Contras, the illegal Iran arms sales, and support for the Afghan mujahideen There were two stages to Iran-Contra. For twelve months in 1984-85, after meeting with Casey, King Fahd of Saudi Arabia, in the spirit of the AWACS deal, supported the Nicaraguan Contras via Prince Bandar through a BCCI bank account in Miami. But in April 1985, after the second proposed arms sale fell through, McFarlane, fearing AIPAC opposition, terminated this direct Saudi role. Then Khashoggi, with the help of Miles Copeland, devised a new scheme in which Iranian arms sales involving Israel would fund the contras. The first stage of Iran-Contra was handled by Prince Bandar through a BCCI account in Miami; the second channel was handled by Khashoggi through a different BCCI account in Montecarlo. The Kerry-Brown Senate Report on BCCI also transmitted allegations from a Palestinian-American businessman, Sam Bamieh, that Khashoggi’s funds from BCCI for arms sales to Iran came ultimately from King Fahd of Saudi Arabia, who “was hoping to gain favor with Ayatollah Ruhollah Khomeini.”48
  • 3) 9/11 When the two previously noted alleged hijackers or designated culprits, al-Mihdhar and al-Hazmi, arrived in San Diego, a Saudi named Omar al-Bayoumi both housed them and opened bank accounts for them. Soon afterwards Bayoumi’s wife began receiving monthly payments from a Riggs bank account held by Prince Bandar’s wife, Princess Haifa bint Faisal.49 In addition, Princess Haifa sent regular monthly payments of between $2,000 and $3,500 to the wife of Osama Basnan, believed by various investigators to be a spy for the Saudi government. In all, “between 1998 and 2002, up to US $73,000 in cashier cheques was funneled by Bandar’s wife Haifa … – to two Californian families known to have bankrolled al-Midhar and al-Hazmi.”50 Although these sums in themselves are not large, they may have been part of a more general pattern. Author Paul Sperry claims there was possible Saudi government contact with at least four other of the alleged hijackers in Virginia and Florida. For example, “9/11 ringleader Mohamed Atta and other hijackers visited s home owned by Esam Ghazzawi, a Saudi adviser to the nephew of King Fahd.”51
  • But it is wrong to think of Bandar’s accounts in the Riggs Bank as uniquely Saudi. Recall that Prince Bandar’s payments were said to have included “a suitcase containing more than $10 million” that went to a Vatican priest for the CIA’s long-time clients, the Christian Democratic Party.52 In 2004, the Wall Street Journal reported that the Riggs Bank, which was by then under investigation by the Justice Department for money laundering, “has had a longstanding relationship with the Central Intelligence Agency, according to people familiar with Riggs operations and U.S. government officials.”53 Meanwhile President Obiang of Equatorial Guinea “siphoned millions from his country’s treasury with the help of Riggs Bank in Washington, D.C.”54 For this a Riggs account executive, Simon Kareri, was indicted. But Obiang enjoyed State Department approval for a contract with the private U.S. military firm M.P.R.I., with an eye to defending offshore oil platforms owned by ExxonMobil, Marathon, and Hess.55 Behind the CIA relationship with the Riggs Bank was the role played by the bank’s overseas clients in protecting U.S. investments, and particularly (in the case of Saudi Arabia and Equatorial Guinea), the nation’s biggest oil companies.
  • The issue of Saudi Embassy funding of at least two (and possibly more) of the alleged 9/11 hijackers (or designated culprits) is so sensitive that, in the 800-page Joint Congressional Inquiry Report on 9/11, the entire 28-page section dealing with Saudi financing was very heavily redacted.56 A similar censorship occurred with the 9/11 Commission Report: According to Philip Shenon, several staff members felt strongly that they had demonstrated a close Saudi government connection to the hijackers, but a senior staff member purged almost all of the most serious allegations against the Saudi government, and moved the explosive supporting evidence to the report’s footnotes.57 It is probable that this cover-up was not designed for the protection of the Saudi government itself, so much as of the supranational deep state connection described in this essay, a milieu where American, Saudi, and Israeli elements all interact covertly. One sign of this is that Prince Bandar himself, sensitive to the anti-Saudi sentiment that 9/11 caused, has been among those calling for the U.S. government to make the redacted 28 pages public.58
  • This limited exposure of the nefarious use of funds generated from Saudi arms contracts has not created a desire in Washington to limit these contracts. On the contrary, in 2010, the second year of the Obama administration, The Defense Department … notified Congress that it wants to sell $60 billion worth of advanced aircraft and weapons to Saudi Arabia. The proposed sale, which includes helicopters, fighter jets, radar equipment and satellite-guided bombs, would be the largest arms deal to another country in U.S. history if the sale goes through and all purchases are made.59 The sale did go through; only a few congressmen objected.60 The deep state, it would appear, is alive and well, and impervious to exposures of it. It is clear that for some decades the bottom-upwards processes of democracy have been increasingly supplanted by the top-downwards processes of the deep state.
  • But the deeper strain in history, I would like to believe, is in the opposite direction: the ultimate diminution of violent top-down forces by the bottom-up forces of an increasingly integrated civil society.61 In the last months we have had Wikileaks, then Edward Snowden, and now the fight between the CIA and its long-time champion in Congress, Dianne Feinstein. It may be time to see a systemic correction, much as we did after Daniel Ellsberg’s release of the Pentagon Papers, which was followed by Watergate and the Church Committee reforms. I believe that to achieve this correction there must be a better understanding of deep events and of the deep state. Ultimately, however, whether we see a correction or not will depend, at least in part, on how much people care.
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Tomgram: Laura Gottesdiener, Security vs. Securities | TomDispatch - 0 views

www.tomdispatch.com/...ner%2C_security_vs._securities banksters housing-market foreclosures equity-firms Blackstone Progress-Residential
shared by Paul Merrell on 23 Jun 14 - No Cached
  • 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
  • ...4 more annotations...
  • 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.”
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Senate majority whip: Cyber bill will have to wait until fall | TheHill - 0 views

thehill.com/...l-will-have-to-wait-until-fall surveillance state CISA legislation digital-privacy
shared by Paul Merrell on 30 Jul 15 - No Cached
  • Senate Majority Whip John Cornyn (R-Texas) on Tuesday said the upper chamber is unlikely to move on a stalled cybersecurity bill before the August recess.Senate Republican leaders, including Cornyn, had been angling to get the bill — known as the Cybersecurity Information Sharing Act (CISA) — to the floor this month.ADVERTISEMENTBut Cornyn said that there is simply too much of a time crunch in the remaining legislative days to get to the measure, intended to boost the public-private exchange of data on hackers.  “I’m sad to say I don’t think that’s going to happen,” he told reporters off the Senate floor. “The timing of this is unfortunate.”“I think we’re just running out time,” he added.An aide for Senate Majority Leader Mitch McConnell (R-Ky.) said he had not committed to a specific schedule after the upper chamber wraps up work in the coming days on a highway funding bill.Cornyn said Senate leadership will look to move on the bill sometime after the legislature returns in September from its month-long break.
  • The move would delay yet again what’s expected to be a bruising floor fight about government surveillance and digital privacy rights.“[CISA] needs a lot of work,” Sen. Patrick Leahy (D-Vt.), who currently opposes the bill, told The Hill on Tuesday. “And when it comes up, there’s going to have to be a lot of amendments otherwise it won’t pass.”Despite industry support, broad bipartisan backing, and potentially even White House support, CISA has been mired in the Senate for months over privacy concerns.Civil liberties advocates worry the bill would create another venue for the government’s intelligence wing to collect sensitive data on Americans only months after Congress voted to rein in surveillance powers.But industry groups and many lawmakers insist a bolstered data exchange is necessary to better understand and counter the growing cyber threat. Inaction will leave government and commercial networks exposed to increasingly dangerous hackers, they say.Sen. Ron Wyden (D-Ore.), who has been leading the chorus opposing the bill, rejoiced Tuesday after hearing of the likely delay.
  • “I really want to commend the advocates for the tremendous grassroots effort to highlight the fact that this bill was badly flawed from a privacy standpoint,” he told The Hill.Digital rights and privacy groups are blanketing senators’ offices this week with faxes and letters in an attempt to raise awareness of bill’s flaws.“Our side has picked up an enormous amount of support,” Wyden said.Wyden was the only senator to vote against CISA in the Senate Intelligence Committee. The panel approved the measure in March by a 14-1 vote and it looked like CISA was barrelling toward the Senate floor.After the House easily passed its companion pieces of legislation, CISA’s odds only seemed better.But the measure got tied up in the vicious debate over the National Security Agency's (NSA) spying powers that played out throughout April and May.“It’s like a number of these issues, in the committee the vote was 14-1, everyone says, ‘oh, Ron Wyden opposes another bipartisan bill,’” Wyden said Tuesday. “And I said, ‘People are going to see that this is a badly flawed bill.’”
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  • CISA backers hoped that the ultimate vote to curb the NSA’s surveillance authority might quell some of the privacy fears surrounding CISA, clearing a path to passage. But numerous budget debates and the Iranian nuclear deal have chewed up much of the Senate’s floor time throughout June and July.  Following the devastating hacks at the Office of Personnel Management (OPM), Senate Republican leaders tried to jump CISA in the congressional queue by offering its language as an amendment to a defense authorization bill.Democrats — including the bill’s original co-sponsor Sen. Dianne Feinstein (D-Calif.) — revolted, angry they could not offer amendments to CISA’s language before it was attached to the defense bill.Cornyn on Tuesday chastised Democrats for stalling a bill that many of them favor.“As you know, Senate Democrats blocked that before on the defense authorization bill,” Cornyn said. “So we had an opportunity to do it then.”Now it’s unclear when the Senate will have another opportunity.When it does, however, CISA could have the votes to get through.
  • There will be vocal opposition from senators like Wyden and Leahy, and potentially from anti-surveillance advocates like Sens. Rand Paul (R-Ky.), Mike Lee (R-Utah) and Dean Heller (R-Nev.).But finding 40 votes to block the bill completely will be a difficult task.Wyden said he wouldn’t “get into speculation” about whether he could gather the support to stop CISA altogether.“I’m pleased about the progress that we’ve made,” he said.
  • Paul Merrell on 30 Jul 15
     
    NSA and crew decide to delay and try later with CISA. The Internet strikes back again.
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Time for the Nuclear Option: Raining Money on Main Street | WEB OF DEBT BLOG - 0 views

ellenbrown.com/...n-raining-money-on-main-street economy financial-stimulus printing-press
shared by Paul Merrell on 24 Sep 15 - No Cached
  • Predictions are that we will soon be seeing the “nuclear option” — central bank-created money injected directly into the real economy. All other options having failed, governments will be reduced to issuing money outright to cover budget deficits. So warns a September 18 article on ZeroHedge titled “It Begins: Australia’s Largest Investment Bank Just Said ‘Helicopter Money’ Is 12-18 Months Away.” Money reformers will say it’s about time. Virtually all money today is created as bank debt, but people can no longer take on more debt. The money supply has shrunk along with people’s ability to borrow new money into existence. Quantitative easing (QE) attempts to re-inflate the money supply by giving money to banks to create more debt, but that policy has failed. It’s time to try dropping some debt-free money on Main Street. The Zerohedge prediction is based on a release from Macqurie, Australia’s largest investment bank. It notes that GDP is contracting, deflationary pressures are accelerating, public and private sectors are not driving the velocity of money higher, and central bank injections of liquidity are losing their effectiveness. Current policies are not working. As a result:
  • There are several policies that could be and probably would be considered over the next 12-18 months. If private sector lacks confidence and visibility to raise velocity of money, then (arguably) public sector could. In other words, instead of acting via bond markets and banking sector, why shouldn’t public sector bypass markets altogether and inject stimulus directly into the ‘blood stream’? Whilst it might or might not be called QE, it would have a much stronger impact and unlike the last seven years, the recovery could actually mimic a conventional business cycle and investors would soon start discussing multiplier effects and positioning in areas of greatest investment.  Willem Buiter, chief global economist at Citigroup, is also recommending “helicopter money drops” to avoid an imminent global recession, stating: A global recession starting in 2016 led by China is now our Global Economics team’s main scenario. Uncertainty remains, but the likelihood of a timely and effective policy response seems to be diminishing. . . . Helicopter money drops in China, the euro area, the UK, and the U.S. and debt restructuring . . . can mitigate and, if implemented immediately, prevent a recession during the next two years without raising the risk of a deeper and longer recession later.
  • In the UK, something akin to a helicopter money drop was just put on the table by Jeremy Corbyn, the newly-elected Labor leader. He proposes to give the Bank of England a new mandate to upgrade the economy to invest in new large scale housing, energy, transport and digital projects. He calls it “quantitative easing for people instead of banks” (PQE). The investments would be made through a National Investment Bank set up to invest in new infrastructure and in the hi-tech innovative industries of the future. Australian blogger Prof. Bill Mitchell agrees that PQE is economically sound. But he says it should not be called “quantitative easing.” QE is just an asset swap – cash for federal securities or mortgage-backed securities on bank balance sheets. What Corbyn is proposing is actually Overt Money Financing (OMF) – injecting money directly into the economy. Mitchell acknowledges that OMF is a taboo concept in mainstream economics. Allegedly, this is because it would lead to hyperinflation. But the real reasons, he says, are that: It cuts out the private sector bond traders from their dose of corporate welfare which unlike other forms of welfare like sickness and unemployment benefits etc. has made the recipients rich in the extreme. . . . It takes away the ‘debt monkey’ that is used to clobber governments that seek to run larger fiscal deficits.
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  • Tim Worstall, writing in the UK Register, objects to Corbyn’s PQE (or OMF) on the ground that it cannot be “sterilized” the way QE can. When inflation hits, the process cannot be reversed. If the money is spent on infrastructure, it will be out there circulating in the economy and will not be retrievable. Worstall writes: QE is designed to be temporary, . . . because once people’s spending rates recover we need a way of taking all that extra money out of the economy. So we do it by using printed money to buy bonds, which injects the money into the economy, and then sell those bonds back once we need to withdraw the money from the economy, and simply destroy the money we’ve raised. . . . If we don’t have any bonds to sell, it’s not clear how we can reduce [the money supply] if large-scale inflation hits.
  • The problem today, however, is not inflation but deflation of the money supply. Some consumer prices may be up, but this can happen although the money supply is shrinking. Food prices, for example, are up; but it’s because of increased costs, including drought in California, climate change, and mergers and acquisitions by big corporations that eliminate competition. Adding money to the economy will not drive up prices until demand is saturated and production has hit full capacity; and we’re a long way from full capacity now. Before that, increasing “demand” will increase “supply.” Producers will create more goods and services. Supply and demand will rise together and prices will remain stable. In the US, the output gap – the difference between actual output and potential output – is estimated at about $1 trillion annually. That means the money supply could be increased by at least $1 trillion annually without driving up prices.
  • If PQE does go beyond full productive capacity, the government does not need to rely on the central bank to pull the money back. It can do this with taxes. Just as loans increase the money supply and repaying them shrinks it again, so taxes and other payments to the government will shrink a money supply augmented with money issued by the government. Using 2012 figures (drawing from an earlier article by this author), the velocity of M1 (the coins, dollar bills and demand deposits spent by ordinary consumers) was then 7. That means M1 changed hands seven times during 2012 – from housewife to grocer to farmer, etc. Since each recipient owed taxes on this money, increasing M1 by one dollar increased the tax base by seven dollars. Total tax revenue as a percentage of GDP in 2012 was 24.3%. Extrapolating from those figures, $1.00 changing hands seven times could increase tax revenue by $7.00 x 24.3% = $1.70. That means the government could, in theory, get more back in taxes than it paid out. Even with some leakage in those figures and deductions for costs, all or most of the new money spent into the economy might be taxed back to the government. New money could be pumped out every year and the money supply would increase little if at all.
  • Besides taxes, other ways to get money back into the Treasury include closing tax loopholes, taxing the $21 trillion or more hidden in offshore tax havens, and setting up a system of public banks that would return the interest on loans to the government. Net interest collected by U.S. banks in 2014 was $423 billion. At its high in 2007, it was $725 billion. Thus there are many ways to recycle an issue of new money back to the government. The same money could be spent and collected back year after year, without creating price inflation or hyperinflating the money supply. This not only could be done; it needs to be done. Conventional monetary policy has failed. Central banks have exhausted their existing toolboxes and need to explore some innovative alternatives.
  • Paul Merrell on 24 Sep 15
     
    Debt having failed as a method of money creation leads us back to the printing press method. But on whom are those helicopters to drop their new money? And how to we ensure that the banksters are not among them?
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U.S. reverses stance on treaty to regulate arms trade | Reuters - 0 views

www.reuters.com/...idUSTRE59E0Q920091015 obammunism 2nd-amendment guns
shared by Gary Edwards on 05 Jan 10 - Cached
  • Gary Edwards on 05 Jan 10
     
    This article is more than 2-1/2 months old yet this is the first I've heard of it.  Pretty frightening "end-run" the administration is trying. Obama Finds Legal Way Around The 2nd. Amendment and Uses It. http://www.reuters.com/article/politicsNews/idUSTRE59E0Q920091015 On Wednesday the Obama administration took its first major step in a plan to ban all firearms in the United States . The Obama administration intends to force gun control and a complete ban on all weapons for US citizens through the signing of international treaties with foreign nations. By signing international treaties on gun control, the Obama administration can use the US State Department to bypass the normal legislative process in Congress. Once the US Government signs these international treaties, all US citizens will be subject to those gun laws created by foreign governments. These are laws that have been developed and promoted by organizations such as the United Nations and individuals such as George Soros and Michael Bloomberg. The laws are designed and intended to lead to the complete ban and confiscation of all firearms.  The Obama administration is attempting to use tactics and methods of gun control that will inflict major damage to our 2nd Amendment before US citizens even understand what has happened. Obama can appear before the public and tell them that he does not intend to pursue any legislation (in the United States) that will lead to new gun control laws, while cloaked in secrecy, his Secretary of State, Hillary Clinton is committing the US to international treaties and foreign gun control laws. Does that mean Obama is telling the truth? What it means is that there will be no publicized gun control debates in the media or votes in Congress. We will wake up one morning and find that the United States has signed a treaty that prohibits firearm and ammunition manufacturers from selling to the public. We will wake up another morning and find that the US has signed a treaty that pro
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States negotiating immunity for banks over foreclosures - 0 views

newsandinsight.thomsonreuters.com/...ty_for_banks_over_foreclosures MERS financial-collapse Banksters Mortgage-fraud Liar-Loans Undocumented-mortgages
shared by Gary Edwards on 22 Jul 11 - No Cached
  • Gary Edwards on 22 Jul 11
     
    Thanks to Marbux.  Seems like nothing will stop the Banksters from seizing it all.  I think i've previously posted that when i was with Virtual Realty (VRi), we were forever trying to crack into the MERS electronic database.  Wow did the Banksters screw this one up.  Now only their corrupt sycophants in Congress and the Coursts can save them.  Not even the lap dog media will touch this. excerpt: A coalition of all 50 states' attorneys general has been negotiating settlements with five of the biggest U.S. banks that would include payment of up to $25 billion in penalties and commitments to follow new rules. In exchange, the banks would get immunity from civil lawsuits by the states, as well as similar guarantees by the Justice Department and Department of Housing and Urban Development, which have participated in the talks. State and federal officials declined to say if any form of immunity from criminal prosecution also is under discussion. The banks involved in the talks are Bank of America, Wells Fargo, CitiGroup, JPMorgan Chase and Ally Financial. REUTERS REPORT PROMPTS LETTER Reuters reported Monday that major banks and other loan servicers have continued to file questionable documents in foreclosure cases. These include false mortgage assignments, and promissory notes with suspect or missing "endorsements," which prove ownership. The Reuters report also showed continued "robo-signing," in which lenders' employees or outside contractors churn out reams of documents without fully understanding their content. The report turned up several cases involving individuals who were publicly identified as robo-signers months ago. Reuters found that such activity has continued even after 14 major mortgage lenders signed settlements with federal bank regulators promising to halt such practices and give remediation to some homeowners who were harmed. In response to these disclosures, Sen. Robert Menendez (D-NJ), chairman of the Senate Subcommittee on Housing, Trans
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The GOP Should Be Mindful Of August And Take Back Up Holding the Line | RedState - 0 views

www.redstate.com/...-take-back-up-holding-the-line Obama-downgrade redstate cut-cap-balance Ryan-Budget
shared by Gary Edwards on 08 Aug 11 - No Cached
  • Gary Edwards on 08 Aug 11
     
    The White House no longer has a commander in chief in charge, but a professional victim. Last week, it was the Arab Spring, those damn Europeans, Mother Nature, etc. Now it is all about those evil tea partiers. For three years, Barack Obama has blamed George W. Bush for all his ills. Yes, it is true, Barack Obama inherited an economy sliding backward. But it is also true Barack Obama inherited a AAA credit rating from George W. Bush. Obama's policies have exacerbated a bad economy and caused us to lose our credit rating. But still, expect a full court press to blame the GOP and Tea Party. So I have some quick advice for the GOP. Back when S&P said it was considering a down grade, it set out two criteria to avoid losing the downgrade: (1) at least $4 trillion in cuts and (2) bipartisan support. Only the tea party movement came up with such a plan - Cut, Cap, and Balance. It received bipartisan support in the House, came within five votes of a majority in the Senate, and not only cut $4 trillion, but put caps on future government spending and balanced the federal budget. No other plan, including the public grand bargain and Barack Obama's own super-double-top-secret plan that no one has ever seen did that. Were I in Republican Leadership in Washington, I would haul my butt back to D.C. right now and start fighting again for Cut, Cap, and Balance. 66% of Americans support the plan. It is the only plan that would have avoided a credit decline. Go back and pick up the fight on the front lines for freedom. And if they just can't, they they better point out to the new Super Committee that it was, in fact, possible to cut $4 trillion without enacting job killing tax increases and encourage them to send back as its package Cut, Cap, and Balance.
  • Gary Edwards on 08 Aug 11
     
    The Tea Party passed two plans to restore USA crdibility and good standing: The Ryan Balanced Budget and the Cut, Cap & Balance plan. Both plans passed the House with bipartisan support. Both plans were acceptable to the credit rating agencies, including Standard & Poor. Both plans were blocked by the Democrats in the Senate, and, threatened with a veto from Obama. The people with no plan blocked the only plans that would have saved the USA credit rating. Rush made the point this morning that if Obama and the Democrats cared about this country, they would be insisting that both the Tea Party plans, the Ryan Balanced Budget and the Cut, Cap & Balance plans be put forward in the Senate immediately for a vote, with the full backing of Obama. Rush pointed out that if Obama and the Democrats didn't do this, or didn't come forward with a proposal of their own that actually qualified and met the credit ratings agencies $4 Trill - stop the reckless spending criteria debt concerns, then our worst fears would be confirmed. Our worst fears being that Obama and the Democrats are worse than mere incompetent socialist ideologues. That they are in fact out to destroy the goose that laid the golden egg: Constitutional Capitalism, American exceptionalism, and our God given right to life liberty and the pursuit of happiness that under-girds the extraordinary story of American prosperity. So Obama has a choice today. He either complies with the demands that the USA Government get it's finances in order by supporting the credit ratings approved Tea Party plans. Or, explain why his vision of a downgraded, prosperity bereft and indentured debt bound America is the way forward. Time to start demanding resignations. The fish rots from the head.
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Why Banks Bought So Many Toxic Mortgage Bonds - 0 views

www.businessinsider.com/ny-toxic-mortgage-bonds-2009-8 financial-crisis obama-bailout Banksters
shared by Gary Edwards on 08 Aug 09 - Cached
  • Gary Edwards on 08 Aug 09
     
    Half of all subprime mortgage backed securities wound up on the balance sheets of banks. This fact surprises many people who think that the problem with securitization is that it let banks off-load risky loans onto investors. If that was the strategy, however, banks wouldn't have wound up with such huge holdings of subprime securities. So why did banks snap up so many mortgage backed securities? Even banks that were originating mortgage loans preferred to securitize them, and then hold the securities. Why would they do that rather than just hold the loans? The answer is that bank regulations encouraged them to own securities rather than loans. Under the international Basel capital requirements, a well-capitalized bank was required to hold $4 for every $100 in individual mortgages-a 4% reserve requirement. But if it held the securitized the AAA and AA tranches, the bank only had to hold $1.60 in capital. That's a huge incentive to trade in a loan for a mortgage backed security. But the capital regulations did more than just create incentives to own mortgage backed securities. They allowed banks to dramatically increase their balance sheets. The lower reserve requirement allowed banks to buy even more securities than it could make loans. A bank with $4 billion in reserve could hold $100 billion in loans. But that same $4 billion could instead be used to invest in $250 billion worth of mortgage backed securities.
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The Daily Bell - The Economist Hoists Its Battle Balloon? - 1 views

www.thedailybell.com/...mist-Hoists-Its-Battle-Balloon economist-magazine Banksters World-Wars New-World-Order
shared by Gary Edwards on 19 Dec 13 - No Cached
  • Gary Edwards on 19 Dec 13
     
    "The first world war... Look back with angst ... Thanks to its military, economic and soft power, America is still indispensable, particularly in dealing with threats like climate change and terror, which cross borders. But unless America behaves as a leader and the guarantor of the world order, it will be inviting regional powers to test their strength by bullying neighbouring countries. The chances are that none of the world's present dangers will lead to anything that compares to the horrors of 1914. Madness, whether motivated by race, religion or tribe, usually gives ground to rational self-interest. But when it triumphs, it leads to carnage, so to assume that reason will prevail is to be culpably complacent. That is the lesson of a century ago. - Economist Magazine Dominant Social Theme: Beware the coming wars ... Free-Market Analysis: You can't make this stuff up. The top men in the globalist community have been hard at work building wars and potential wars, and now it's time to let 'er rip. This is one dominant social theme we saw coming miles away. We've been writing about its imminence for years, and predicting war and more war as internationalists try to blunt the effect of the Internet Reformation. After the Gutenberg press blew up the Middle Ages and the Roman Catholic Church besides, the globalists of the era used economic chaos, war and the invention of copyright to fight back. We predicted they would use the same tools this time around and have no reason to revise our predictions thus far. The only thing we've consistently pointed out that has not yet been addressed is the inability of the top men to launch a full-out world war because that would involve nuclear weapons. And lacking a full-out war, we have questioned how successful the strategy can be. Obviously, the top elites see something we don't. Or perhaps they are willing to risk an all-out war anyway - as they retreat into reported fully-stocked, underground "cities." Here's more fro
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9/11 Museum World Trade Center Evidence: No Plane Hit Pentagon? | Dissident Voice - 0 views

dissidentvoice.org/...evidence-no-plane-hit-pentagon war & peace 9-11 conspiracy 9-11-Truth
shared by Paul Merrell on 06 Jun 14 - No Cached
  • Even a determined debunker of 9/11 skeptics, while laying out a coherent argument that the official 9/11 Pentagon story is true (and conflating physical evidence with photography), ends up concluding: In this essay I asked what conclusions about the Pentagon attack were supported by physical evidence — primarily post-crash photographs of the site. I found that, in every aspect I considered, this evidence comports with the crash of a Boeing 757. At the same time, the evidence does not conclusively prove that the aircraft was a 757, much less that it was Flight 77. However, that lack of conclusiveness should not be surprising given the systematic suppression of evidence by authorities.
  • At best, the events of 9/11 represent the catastrophic failure of numerous American agencies, including airport security, air traffic controllers, national air defense command, and the U.S. Air Force. That reality alone is enough to raise suspicions of a cover-up, if only to avoid accountability for lethal incompetence. Absence of evidence is not evidence of absence. At worst, the events of 9/11 were the result of an almost unimaginable criminal conspiracy designed to produce the “new Pearl Harbor” that would enable fans of the New American Century (many of them members of the Bush administration) to take the United States in new, warlike, world-dominating directions (maybe something like a Global War on Terror).
  • In any event, the Bush administration fought long and hard to prevent any investigation of 9/11 and continued to work to undermine the 9/11 Commission until it produced its flawed report in August 2004. That final report omits any mention, much less explanation, of what Vice President Dick Cheney knew and when he knew it regarding the attack on the Pentagon. The 9/11 Commission knew full well – and chose not to confront – the serious implications of the testimony to the commission by Transportation Secretary Norman Pinetta (May 23, 2003): During the time that the airplane was coming into the Pentagon, there was a young man who would come in and say to the Vice President…the plane is 50 miles out…the plane is 30 miles out….and when it got down to the plane is 10 miles out, the young man also said to the vice president “do the orders still stand?” And the Vice President turned and whipped his neck around and said “Of course the orders still stand, have you heard anything to the contrary!??”
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  • Even now, still in the shadows of 9/11, it might be instructive to hear President Bush and members of his administration vigorously questioned, under oath, as to why they decided to pay no attention – none at all (Bush is said to have told a CIA officer “you’ve covered your ass,” which sounds in retrospect almost like foreknowledge) – to the CIA briefing paper with the title: “Bin Laden Determined To Strike in US.” Long after the facts of 9/11, the Bush people defended their absolute inattention and inaction based on the absence of evidence.
  • Paul Merrell on 06 Jun 14
     
    Re 9-11, I see the cover-up conspiracy's existence as having been established beyond any reasonable doubt in enormous detail. The cover-up conspiracy's very existence casts doubt on the official version of events. The official version of events itself is a conspiracy theory and it seems beyond question that a conspiracy involving multiple persons was in fact involved (four airliners hijacked within a few hours of each other involves more than  a single pilot acting on his own). The remaining problem is determining who the real conspirators were, their roles and actions, and their motives. Given that the official version is itself a conspiracy theory, other reconstructions of events cannot logically be discarded just on the basis that they are conspiracy theories. 
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