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Gary Edwards

The Great Deceiver - The Federal Reserve - 0 views

www.thedailybell.com/...-Deceiver--The-Federal-Reserve

Paul-Craig-Roberts Federal-Reserve-Bankster-Cartel

shared by Gary Edwards on 13 May 14 - No Cached
  • From November 2013 through January 2014 Belgium with a GDP of $480 billion purchased $141.2 billion of US Treasury bonds. Somehow Belgium came up with enough money to allocate during a 3-month period 29 percent of its annual GDP to the purchase of US Treasury bonds. Certainly Belgium did not have a budget surplus of $141.2 billion. Was Belgium running a trade surplus during a 3-month period equal to 29 percent of Belgium GDP? No, Belgium's trade and current accounts are in deficit. Did Belgium's central bank print $141.2 billion worth of euros in order to make the purchase? No, Belgium is a member of the euro system, and its central bank cannot increase the money supply. So where did the $141.2 billion come from?
  • There is only one source. The money came from the US Federal Reserve, and the purchase was laundered through Belgium in order to hide the fact that actual Federal Reserve bond purchases during November 2013 through January 2014 were $112 billion per month. In other words, during those 3 months there was a sharp rise in bond purchases by the Fed. The Fed's actual bond purchases for those three months are $27 billion per month above the original $85 billion monthly purchase and $47 billion above the official $65 billion monthly purchase at that time. (In March 2014, official QE was tapered to $55 billion per month and to $45 billion for May.) Why did the Federal Reserve have to purchase so many bonds above the announced amounts and why did the Fed have to launder and hide the purchase? Some country or countries, unknown at this time, for reasons we do not know dumped $104 billion in Treasuries in one week.
  • What are the reasons for this deception by the Federal Reserve?
  • ...6 more annotations...
  • The Fed realized that its policy of Quantitative Easing initiated in order to support the balance sheets of "banks too big to fail" and to lower the Treasury's borrowing cost was putting pressure on the US dollar's value. Tapering was a way of reassuring holders of dollars and dollar-denominated financial instruments that the Fed was going to reduce and eventually end the printing of new dollars with which to support financial markets. The image of foreign governments bailing out of Treasuries could unsettle the markets that the Fed was attempting to soothe by tapering.
  • Its wars and hundreds of overseas military bases could not be financed.
  • Washington's power ultimately rests on the dollar as world reserve currency. This privilege, attained at Bretton Woods following World War 2, allows the US to pay its bills by issuing debt. The world currency role also gives the US the power to cut countries out of the international payments system and to impose sanctions.
  • As impelled as the Fed is to protect the large banks that sit on the board of directors of the NY Fed, the Fed has to protect the dollar. That the Fed believed that it could not buy the bonds outright but needed to disguise its purchase by laundering it through Belgium suggests that the Fed is concerned that the world is losing confidence in the dollar. If the world loses confidence in the dollar, the cost of living in the US would rise sharply as the dollar drops in value. Economic hardship and poverty would worsen. Political instability would rise. If the dollar lost substantial value, the dollar would lose its reserve currency status. Washington would not be able to issue new debt or new dollars in order to pay its bills.
  • A hundred billion dollar sale of US Treasuries is a big sale. If the seller was a big holder of Treasuries, the sale could signal the bond market that a big holder might be selling Treasuries in large chunks. The Fed would want to keep the fact and identity of such a seller secret in order to avoid a stampede out of Treasuries. Such a stampede would raise interest rates, collapse US financial markets, and raise the cost of financing the US debt. To avoid the rise in interest rates, the Fed would have to accept the risk to the dollar of purchasing all the bonds. This would be a no-win situation for the Fed, because a large increase in QE would unsettle the market for US dollars.
  • The withdrawal from unsustainable empire would begin. The rest of the world would see this as the silver lining in the collapse of the international monetary system brought on by the hubris and arrogance of Washington.
  • Gary Edwards on 13 May 14
     
    Incredible.  Since 2009, the Fed has been pumping $85 Billion per month into the Wall Street hedge funds of it's member banks.  Economist Paul Craig Roberts noticed some funny business the past few months regarding the Fed's numbers.  It turns out that while the Fed has been trying to convince the world that they are tapering off on their $85 Billion per month debt printing spree, the truth is just the opposite.  They have increased the debt spree to $112 Billion per month; with the help of a secret money laundering operation involving Belgium! Incredible!
Paul Merrell

Canadian Spies Collect Domestic Emails in Secret Security Sweep - The Intercept - 0 views

firstlook.org/...ony-express-email-surveillance

surveillance state Canada CSE bulk-collection email

shared by Paul Merrell on 27 Feb 15 - No Cached
  • Canada’s electronic surveillance agency is covertly monitoring vast amounts of Canadians’ emails as part of a sweeping domestic cybersecurity operation, according to top-secret documents. The surveillance initiative, revealed Wednesday by CBC News in collaboration with The Intercept, is sifting through millions of emails sent to Canadian government agencies and departments, archiving details about them on a database for months or even years. The data mining operation is carried out by the Communications Security Establishment, or CSE, Canada’s equivalent of the National Security Agency. Its existence is disclosed in documents obtained by The Intercept from NSA whistleblower Edward Snowden. The emails are vacuumed up by the Canadian agency as part of its mandate to defend against hacking attacks and malware targeting government computers. It relies on a system codenamed PONY EXPRESS to analyze the messages in a bid to detect potential cyber threats.
  • Last year, CSE acknowledged it collected some private communications as part of cybersecurity efforts. But it refused to divulge the number of communications being stored or to explain for how long any intercepted messages would be retained. Now, the Snowden documents shine a light for the first time on the huge scope of the operation — exposing the controversial details the government withheld from the public. Under Canada’s criminal code, CSE is not allowed to eavesdrop on Canadians’ communications. But the agency can be granted special ministerial exemptions if its efforts are linked to protecting government infrastructure — a loophole that the Snowden documents show is being used to monitor the emails. The latest revelations will trigger concerns about how Canadians’ private correspondence with government employees are being archived by the spy agency and potentially shared with police or allied surveillance agencies overseas, such as the NSA. Members of the public routinely communicate with government employees when, for instance, filing tax returns, writing a letter to a member of parliament, applying for employment insurance benefits or submitting a passport application.
  • Chris Parsons, an internet security expert with the Toronto-based internet think tank Citizen Lab, told CBC News that “you should be able to communicate with your government without the fear that what you say … could come back to haunt you in unexpected ways.” Parsons said that there are legitimate cybersecurity purposes for the agency to keep tabs on communications with the government, but he added: “When we collect huge volumes, it’s not just used to track bad guys. It goes into data stores for years or months at a time and then it can be used at any point in the future.” In a top-secret CSE document on the security operation, dated from 2010, the agency says it “processes 400,000 emails per day” and admits that it is suffering from “information overload” because it is scooping up “too much data.” The document outlines how CSE built a system to handle a massive 400 terabytes of data from Internet networks each month — including Canadians’ emails — as part of the cyber operation. (A single terabyte of data can hold about a billion pages of text, or about 250,000 average-sized mp3 files.)
  • ...1 more annotation...
  • The agency notes in the document that it is storing large amounts of “passively tapped network traffic” for “days to months,” encompassing the contents of emails, attachments and other online activity. It adds that it stores some kinds of metadata — data showing who has contacted whom and when, but not the content of the message — for “months to years.” The document says that CSE has “excellent access to full take data” as part of its cyber operations and is receiving policy support on “use of intercepted private communications.” The term “full take” is surveillance-agency jargon that refers to the bulk collection of both content and metadata from Internet traffic. Another top-secret document on the surveillance dated from 2010 suggests the agency may be obtaining at least some of the data by covertly mining it directly from Canadian Internet cables. CSE notes in the document that it is “processing emails off the wire.”
  • Paul Merrell on 27 Feb 15
     
    " CANADIAN SPIES COLLECT DOMESTIC EMAILS IN SECRET SECURITY SWEEP BY RYAN GALLAGHER AND GLENN GREENWALD @rj_gallagher@ggreenwald YESTERDAY AT 2:02 AM SHARE TWITTER FACEBOOK GOOGLE EMAIL PRINT POPULAR EXCLUSIVE: TSA ISSUES SECRET WARNING ON 'CATASTROPHIC' THREAT TO AVIATION CHICAGO'S "BLACK SITE" DETAINEES SPEAK OUT WHY DOES THE FBI HAVE TO MANUFACTURE ITS OWN PLOTS IF TERRORISM AND ISIS ARE SUCH GRAVE THREATS? NET NEUTRALITY IS HERE - THANKS TO AN UNPRECEDENTED GUERRILLA ACTIVISM CAMPAIGN HOW SPIES STOLE THE KEYS TO THE ENCRYPTION CASTLE Canada's electronic surveillance agency is covertly monitoring vast amounts of Canadians' emails as part of a sweeping domestic cybersecurity operation, according to top-secret documents. The surveillance initiative, revealed Wednesday by CBC News in collaboration with The Intercept, is sifting through millions of emails sent to Canadian government agencies and departments, archiving details about them on a database for months or even years. The data mining operation is carried out by the Communications Security Establishment, or CSE, Canada's equivalent of the National Security Agency. Its existence is disclosed in documents obtained by The Intercept from NSA whistleblower Edward Snowden. The emails are vacuumed up by the Canadian agency as part of its mandate to defend against hacking attacks and malware targeting government computers. It relies on a system codenamed PONY EXPRESS to analyze the messages in a bid to detect potential cyber threats. Last year, CSE acknowledged it collected some private communications as part of cybersecurity efforts. But it refused to divulge the number of communications being stored or to explain for how long any intercepted messages would be retained. Now, the Snowden documents shine a light for the first time on the huge scope of the operation - exposing the controversial details the government withheld from the public. Under Canada's criminal code, CSE is no
Gary Edwards

Is martial law the ultimate goal? - Tea Party Command Center - 0 views

teapartyorg.ning.com/...show

martial-law executive-orders Obammunism

shared by Gary Edwards on 31 Jan 13 - No Cached
  • Gary Edwards on 31 Jan 13
     
    "During President Obama's first term he laid the ground work. President Obama issued over 900 executive orders, many dealing with martial law. As the Supreme Court already opinioned when looking at President Lincolns use of martial law, "Martial law ... destroys every guarantee of the Constitution.". This means when martial law is declared we as Americans have no rights at all. During President Obama's first term he wrote Executive Orders granting the government the power to take over all communications media, electrical power, gas, petroleum, fuels and minerals. He also wrote an Executive Order where the government can take over all modes of transportation and control of the highways and sea ports. That means Obama can confiscate your horse, your donkeys, your bicycle or even your riding lawn mower. All forms of transportation. Executive orders signed by Obama also include railroads, inland water ways, public storage facilities, airports and airplanes including commercial planes can all be taken over by the government." Executive Orders have also been signed allowing the government to mobilize civilians into work brigades under government supervision. To take over all health education and welfare functions. To allow the Housing and Finance Authority to relocate and establish new locations for populations, AND grants authority to the Department of Justice to enforce the plans set out in Executive Orders, to institute Industrial support, to establish judicial and legislative liaison, to control all aliens, to operate penal and correctional institutions, and to advise and assist the President. An Executive order has also been signed which allows the Federal Emergency Preparedness Agency to develop plans to establish control over the mechanisms of production and distribution of energy sources, wages, salaries, credit, and the flow of money in U.S. financial institutions in any undefined national emergency. It also provides that when the president declares a state of
Gary Edwards

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

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

Banksters

shared by Gary Edwards on 08 Jan 14 - No Cached
  • Gary Edwards on 08 Jan 14
     
    Incredible must read analysis. Take away: the world is going to go "medevil". It's the only way out of this mess. Since the zero hedge layout is so bad, i'm going to post as much of the article as Diigo will allow: Jim Kunstler's 2014 Forecast - Burning Down The House Submitted by Tyler Durden on 01/06/2014 19:36 -0500 Submitted by James H. Kunstler of Kunstler.com , Many of us in the Long Emergency crowd and like-minded brother-and-sisterhoods remain perplexed by the amazing stasis in our national life, despite the gathering tsunami of forces arrayed to rock our economy, our culture, and our politics. Nothing has yielded to these forces already in motion, so far. Nothing changes, nothing gives, yet. It's like being buried alive in Jell-O. It's embarrassing to appear so out-of-tune with the consensus, but we persevere like good soldiers in a just war. Paper and digital markets levitate, central banks pull out all the stops of their magical reality-tweaking machine to manipulate everything, accounting fraud pervades public and private enterprise, everything is mis-priced, all official statistics are lies of one kind or another, the regulating authorities sit on their hands, lost in raptures of online pornography (or dreams of future employment at Goldman Sachs), the news media sprinkles wishful-thinking propaganda about a mythical "recovery" and the "shale gas miracle" on a credulous public desperate to believe, the routine swindles of medicine get more cruel and blatant each month, a tiny cohort of financial vampire squids suck in all the nominal wealth of society, and everybody else is left whirling down the drain of posterity in a vortex of diminishing returns and scuttled expectations. Life in the USA is like living in a broken-down, cob-jobbed, vermin-infested house that needs to be gutted, disinfected, and rebuilt - with the hope that it might come out of the restoration process retaining the better qualities of our heritage.
Paul Merrell

Months After Appeals Argued, NSA Cases Twist in the Wind - US News - 0 views

www.usnews.com/...ed-nsa-cases-twist-in-the-wind

surveillance state NSA 215 litigation bulk-collection

shared by Paul Merrell on 15 Apr 15 - No Cached
  • Three cases that likely lay the groundwork for a major privacy battle at the U.S. Supreme Court are pending before federal appeals courts, whose judges are taking their time announcing whether they believe the dragnet collection of Americans' phone records is legal. It’s been more than five months since the American Civil Liberties Union argued against the National Security Agency program in New York, three months since legal activist Larry Klayman defended his thus far unprecedented preliminary injunction win in Washington, D.C., and two months since Idaho nurse Anna Smith’s case was heard by appeals judges in Seattle. At the district court level, judges handed down decisions about a month after oral arguments in the cases. It’s unclear what accounts for the delay. It’s possible judges are meticulously crafting opinions that are likely to receive wide coverage, or that members of the three-judge panels are clashing on the appropriate decision.
  • Attorneys involved in the cases understandably are reluctant to criticize the courts, but all express hope for speedy resolution of their fights against alleged violations of Americans’ Fourth Amendment rights.
  • Though it’s difficult to accurately predict court decisions based on oral arguments, opponents of the mass surveillance program may have reason for optimism.
  • ...1 more annotation...
  • Two executive branch review panels have found the dragnet phone program has had minimal value for catching terrorists, its stated purpose. After years of presiding over the collection and months of publicly defending it, President Barack Obama pivoted last year and asked Congress to pass legislation ending the program. A measure to do so failed last year.
Paul Merrell

Neocon savages Christie for failing 'months and months of careful coaching' by foreign ... - 0 views

mondoweiss.net/...hing-by-foreign-policy-experts

Auction 2016 Trump neocons-for-Hillary

shared by Paul Merrell on 01 Mar 16 - No Cached
  • This is delicious. Donald Trump’s anti-interventionist foreign policy ideas are causing panic among the neoconservatives. Clearly this branch of the Republican establishment will leave the party over Trump. Neoconservative Washington Post writer Jennifer Rubin is outraged that Chris Christie would endorse Donald Trump despite “months and months of careful coaching” in foreign policy by “outside… experts.” That’s how the Israel lobby works, by coaching politicians. This is what the neocons have successfully done with Marco Rubio: gotten him to be a robot on the Israel issue.
  • And then this. Neoconservative Robert Kagan, also in the Washington Post, is endorsing Hillary Clinton because of Trump’s xenophobia and demagoguery and racism, but also the foreign policy
  • Kagan is the man who brought us the Project for New American Century letters that helped get the country into the Iraq War.
  • ...1 more annotation...
  • So Hillary Clinton is the shop for muscular internationalists. Bernie Sanders keeps beating up on her friendship with Henry Kissinger, and that’s a good thing. But why doesn’t he talk about her affection for Benjamin Netanyahu and Dennis Ross? Netanyahu has terrible favorability ratings, especially among black Democrats, many of whom boycotted his speech to Congress a year ago. But Hillary Clinton wants to have him into the White House in her first month in office. Remember that some neocons also left the Reagan Bush team when Bush got tough on Israel, and crossed the aisle to Bill Clinton. The Israel lobby transcends party.
Gary Edwards

Arnold Ahlert: Liberty at Risk - The Patriot Post - 1 views

patriotpost.us/42083

liberty

shared by Gary Edwards on 22 Apr 16 - No Cached
  • Gary Edwards on 22 Apr 16
     
    "The American Left's desire to crush Liberty and dissent in order to "fundamentally transform the United States of America" has reached metastatic levels. In the last three weeks alone, the following stories have surfaced. All of which indicate we are well on our way toward relinquishing our birthright. Even worse, millions of Americans are apparently more than willing to do so. First, this week the Supreme Court heard arguments in the United States v. Texas case that will determine whether a president can unilaterally rewrite immigration law. If SCOTUS rules in Barack Obama's favor, the separation of powers outlined in the first three articles of the Constitution will be rendered moot and, as political analyst Charles Krauthammer wryly observed, "you can send Congress home." And the Left is not content to stop there. A coalition of 118 cities and counties have filed a legal brief asserting they will lose up to $800 million in economic benefits if large numbers of illegal aliens remain subject to deportation. Second, the IRS has admitted it abides the use of fraudulent Social Security numbers used by illegal aliens to process tax payments - and refunds. Third, in New York and California, Democratic attorneys general Eric Schneiderman and Kamala Harris are pursuing fraud investigations against Exxon, based on the premise they can "prosecute persons and institutions with nonconforming views on global warming," writes National Review's Kevin Williams. "Prosecuting political institutions and businesses for political activism is brown-shirt business." Fourth, the Obama administration, already under fire for its determination to flood America with Syrian "refugees," announced it will reduce its vetting process to three months, instead of 18-24 months. They claim the reduced time is necessary to handle a sped-up "surge operation" whose population is 99% Sunni Muslim. Even more insulting, Gina Kassem, the regional refugee coordinator at t
  • Paul Merrell on 23 Apr 16
     
    I'll leave well enough alone on Mr. Ahert's positions regarding the U.S. v. Texas case and IRS reliance on fraudulent Social Security numbers; I have not studied those issues. But Mr. Ahert has not done his homework on the Exxon investigations and on the law governing the Syrian refugee situation. Re Exxon, the criminal investigations are to determine whether Exxon committed fraud against *investors* by concealing its knowledge of climate change the company was contributing to --- and knew of decades ago. We don't yet know the outcome of those investigations, but this is a far cry from prosecuting "persons and institutions with nonconforming views on global warming." If pursued, it will be a prosecution of a company -- and conceivably its managers -- who damned well knew through in-house scientific studies it sponsored that global warming was man-made and that their own company was a major causative agent. On the Syrian refugee situation, the right of war refugees to refuge in the U.S. and all other nations is, under the U.S. Constitution's Treaty Clause, "the law of this land." There is nothing in that body of international law created by treaty that permits the U.S. or any other nation to delay providing refuge for purposes of vetting refugees for possible terrorists among them. Vetting can, however, proceed lawfully after refugees are admitted while being held in refugee camps. One need only ask how one would feel were the tables turned and it was yourself fleeing from U.S. violence? Would you want to be forced to linger in the war zone while your anti-terrorism bona fides were established over a period of months? Refuge must be granted when it is needed, not months or years later, regardless of how much "terrorist" hysteria our mainstream media and the military-industrial complex drums up to fan the flames of war and industry profits. And this is all the more a moral case because it is the U.S. and its allies' illegal proxy war in Syria that is creating
Gary Edwards

David Skeel: A Nation Adrift From the Rule of Law - WSJ.com - 1 views

online.wsj.com/...4184704577588822128122752.html

wsj rule-of-law David-Skeel

shared by Gary Edwards on 23 Aug 12 - No Cached
  • Gary Edwards on 23 Aug 12
     
    "No one doubts that the coming election will be the most important referendum on the size and nature of government in a generation. But another issue is nearly as important and has gotten far less attention: our crumbling commitment to the rule of law. The notion that we are governed by rules that are transparent and enacted through the legislative process-not by the whims of our leaders-is at the heart of that commitment. If legislators exceed their authority under the Constitution, or if otherwise legitimate laws are misused, courts must step in to prevent or remedy the potential harm. During the 2008 financial crisis, the government repeatedly violated these principles. When regulators bailed out Bear Stearns by engineering its sale to J.P. Morgan Chase, they flagrantly disregarded basic corporate law by "locking up" the transaction so that no other bidder could intervene. When the government bailed out AIG six months later, the Federal Reserve funded the bailout by invoking extraordinary loan powers for what was clearly an acquisition rather than a loan. (The government acquired nearly 80% of AIG's stock.) Two months later, the Treasury Department used money from the $700-billion Troubled Asset Relief Program fund to bail out the car companies. This was dubious. Under the statute, the funds were to be used for financial institutions. But the real violation came a few months later, when the government used a sham bankruptcy sale to transfer Chrysler to Fiat while almost certainly stiffing Chrysler's senior creditors. According to two leading legal scholars, Eric Posner and Adrian Vermeule, rule-of-law violations are inevitable during a crisis. The executive branch takes all necessary steps, even if that means violating the law, until the crisis has passed. The argument is powerful, and its advocates are correct that presidents and other executive-branch officials often push the envelope during a crisis. Yet pushing the envelope isn't the same thing as f
Gary Edwards

The Lawless President - 0 views

spectator.org/...the-lawless-president

ObamaCare Impeachment articles-of-impeachment Impeach-Obama

shared by Gary Edwards on 10 Jul 13 - No Cached
  • Gary Edwards on 10 Jul 13
     
    Excellent read!  Peter Ferrara walks us through the latest Obama assault on the Constitution, this time his refusal to enforce laws he disagrees with.  Surprisingly, this now includes the employer mandate portion of ObamaCare!!!  Why he has to do this however is a stunning story. Bottom line:  The latest jobs report has the economy producing 195,000 new jobs in the past quarter.  The problem is, 100% of these new jobs are part-time.  Thanks to ObamaCare.   "The duties of the President of the United States are spelled out in Article II, Section 3 of the Constitution, which states, inter alia, that the President "shall take Care that the laws be faithfully executed." As Stanford Law Professor and former federal judge Michael McConnell explained in yesterday's Wall Street Journal, "This is a duty, not a discretionary power. While the president does have substantial discretion about how to enforce a law, he has no discretion about whether to do so." Section 1513(d) of the Unaffordable Care Act (aka "Obamacare") states unequivocally, "The amendments made by this section shall apply to months beginning after December 31, 2013." In other words, the provisions of Obamacare become fully effective in 2014, as a matter of duly enacted federal law. But over the long Fourth of July weekend, in a "Never Mind" moment, the Obama Administration announced, through a Deputy Assistant Secretary of the Treasury, that contrary to federal law, the employer mandate of Obamacare shall not become fully effective in months beginning after December 31, 2013, but only in months beginning after December 31, 2014. Making the announcement through such a low level Administration official to me says that Obama has contempt for the American people, and for the rule of law. Barack Obama: Lawbreaker But it does not matter who announces it. The President is the one responsible. And the announcement constitutes the assumption of authoritarian powers by President Obama. McCo
Paul Merrell

Western Sponsors Liable for Kiev Basket Case | nsnbc international - 0 views

nsnbc.me/...onsors-liable-kiev-basket-case

war & peace Ukraine-creditworthiness Russia natural-gas

shared by Paul Merrell on 23 Oct 14 - No Cached
  • The Kiev ultra rightwing regime that Washington and Brussels railroaded into power in February this year, in an illegal coup d’état, has compounded fiscal bankruptcy with a seventh-month criminal war on the ethnic Russian population of the eastern Donbass regions, prompting up to a million refugees to stream across the border with Russia. Earlier this month, the International Monetary Fund (IMF) warned that Ukraine will need to find an additional $19 billion to avoid bankruptcy if the Kiev regime continues with its military operations in the east of the country. That is on top of the $17 billion that the IMF has already committed to Kiev following the CIA-backed coup against the elected government of President Victor Yanukovych. The legality and delivery of those IMF funds are questionable given the Washington-based institute’s own prohibition on funding states that are engaged in war.
  • This is the context for why Russia was obliged to put Ukraine on a prepayment basis over gas purchases back in June. At a trilateral negotiation in Brussels on September 26, the parties appeared to reach an agreement on a winter package of gas supply to Ukraine from Russia to cover the months of October to March inclusively, which would be based on a prepayment scheme. The payment rate agreed to was $385 per 1,000 cubic metres of natural gas. Granted, that payment rate is a lot more than what Moscow was previously supplying the Yanukovych government. But that was on a preferential basis to an ally. Given that the Kiev regime ousted this ally of Moscow and has shown unprecedented hostility towards Russia ever since the coup in February it is not unreasonable that Russian state-owned Gazprom has raised the price of its gas to $385, and especially because that figure is the average price paid by all European countries for Russian gas.
  • The fact is that Ukraine owes Russia $5.3 billion in unpaid gas bills going back several years. As Western consumer societies might just appreciate, if a customer does not make good on outstanding credit for a service or goods, then the supplier of that service is entitled by law to with-hold further delivery.
  • ...5 more annotations...
  • «We are ready to pay in advance but the advance payment mechanism has not yet been squared,» the Kiev energy minister told media. Hmmm, payment mechanism has not yet been squared? That hardly sounds like an ironclad commitment to honour contracts with Russia and to make long overdue amends to outstanding debt. It sounds rather like more of the same shenanigans that typifies this warmongering junta. Russia’s energy minister Alexandr Novak is therefore not only entitled, but is merely exercising a modicum of sanity, to insist that Kiev presents a definitive source of funds by the next trilateral meeting scheduled to take place on October 29. To any reasonable person, Russia’s insistence on Kiev providing proof of ability and willingness to pay for the next delivery of natural gas is not an act of «intimidation» but rather is a basic and wholly justified reservation on the part of Moscow to make sure that it is indeed paid for a strategically vital export. One can only imagine how the US or EU would react if they were being dictated to by a hostile jumped-up regime.
  • The depth of Kiev’s insolvency is probably even worse than the IMF’s own dire forecast. Sergei Glazyev, an economic advisor to Russian President Vladimir Putin, earlier this month reckoned that Ukraine will need at least $100 billion to stabilise its economy. He says that the Kiev regime won’t be able to meet its international obligations even if all the promised financial aid from the US and the European Union is delivered, which is doubtful. «Default is inevitable,» Glazyev concludes. In this context of extreme credit unworthiness, it is not surprising therefore that Russia is insisting that the Kiev regime make prepayments for the further purchase of natural gas. Ukraine will require some 18 billion cubic metres of the fuel to see it through the bitter winter months – and all of it from Russia.
  • The September 26 agreement also stipulated that Kiev would pay off its $5.3 billion debt to Russia in roughly two equal tranches amounting to a total of $3.1 billion by the end of this year, with the first payment at the end of this month. However, on October 13, the Kiev-appointed energy minister Yuriy Prodan announced an about-turn by declaring that the regime would not be making any prepayment, and that money would be forthcoming only after delivery of Russian gas. Such a truculent attitude is by no means the first time that Kiev has vacillated on commitments, not just over gas, but also in the realm of political negotiations to find a peaceful solution to the violence in the eastern regions. In a word, the Western-backed regime in Kiev has shown itself to be unreliable to say the least, if not downright unscrupulous. That conclusion is not based on random delinquent behaviour but rather on a systematic pattern since the regime seized power. Then this week at the latest trilateral talks in Brussels, Kiev’s Prodan once again swivelled position and is now appearing to say that the regime will make good on the arrangement of prepayments.
  • What’s more, Russia’s adamant stance on gas prepayments is all the more warranted because the Western sponsors of the Kiev regime have so far shown little inclination to help it deal with its looming energy crisis.
  • Last week, Kiev put a request to the European Commission for a loan of $2.6 billion. But all that the EC would say is that it is considering the request. Yet, on the basis of no money, the EU’s energy commissioner Guenther Oettinger this week says that he expects a gas deal to be signed on October 29 between Russia and Ukraine under the auspices of Brussels. Washington is even more circumspect than Brussels on the matter of providing hard cash to Kiev, as opposed to lots of hot-air promises of nebulous aid. One gets the feeling that the Western sponsors know full well that this regime is a basket case. Nevertheless, these Western sponsors are liable for the basket case that they created. Russia is thus dead right to be sceptical and to insist: show us the colour of your money. If not, then the Western-aspiring regime should be ready to abide by its Western consumer-market principles. No money, no delivery – unless your Western daddy bails you out, which is not looking likely so far. If Ukraine comes off the rails with an energy crisis this winter, the responsibility lies with the reckless regime-hijackers in Washington and Brussels. They created this wreck, they should pay for it – not the government of Russia, which has shown incredible forbearance in spite of gratuitous insults, provocation and insolence.
Gary Edwards

Security, the Edward Snowden Way - Datamation - 0 views

www.datamation.com/...-the-edward-snowden-way-1.html

security Edward-Snowden

shared by Gary Edwards on 25 Jul 14 - No Cached
  • NoScript NoScript is a free extension for Mozilla-based web browsers, including Firefox. It blocks executable web content by default. This blocking includes JavaScript, Java, Flash and Silverlight. You can whitelist sites if you want to use such content on a site-by-site basis. Or, if you choose, you can make all sites active by default and choose to blacklist sites you think might be dangerous. A visual button tells you if active content has been blocked on the current site.
  • PGP In the first chapter of his book “No Place to Hide,” journalist Glenn Greenwald wrote that Edward Snowden contacted him using the alias “Cincinnatus,” and said he would tell Greenwald some highly newsworthy facts, but only if he installed Pretty Good Privacy (PGP) first. (Greenwald didn’t know the magnitude of the scoop being offered to him and didn’t get around to installing PGP for months, thus delaying the leak.) PGP, of course, is a 23-year-old encryption program that can be used for email, as well as files and other things.
  • Tor Tor is a free application that routes your Internet traffic through a global volunteer network of thousands of relays that play a shell game with your data so your location and Internet travels are concealed. Tor, which used to stand for “The Onion router” in a reference to layers of encryption, encrypts data in multiple layers that prevents snoops from being able to figure out any details about your web travels, such as where you are or what you’re looking at. Tor was developed in part by US government funding as a way to enable citizens in repressive countries to communicate safely. And the NSA has a lot of respect for it. But in a recent controversy, two Carnegie Mellon researchers said they would give a talk at the Black Hat USA 2014 conference next month telling how to identify Tor users inexpensively (for only $3,000). The session was cut from the lineup because university lawyers didn’t approve it. The institute that the researchers work for is funded by the Pentagon, but the Department of Homeland Security said they did not request that the talk be cancelled.
  • Gary Edwards on 25 Jul 14
     
    "Whether you think NSA whistleblower Edward Snowden is a hero or a traitor, you have to admit: The guy knows how to keep his information secure. The fact that Snowden isn't sitting in Guantanamo right now with ankle cuffs and a bag over his head demonstrates his ability to avoid detection. Snowden spoke at the Hope X conference in New York this month via a Google+ Hangout from Russia, and called on developers to build privacy and security into everyday products. He also hinted that he planned to work on building such technology. If you look into the details of what's been happening with tracking, surveillance, spying, hacking and global cyber industrial espionage, you can see that Snowden is right. We all need a lot better protection from snoops of all stripes. But how does the non-expert get started? One option is to listen to Snowden himself. Over the past year, Snowden has in one format or another, made specific product recommendations. Here are the products Snowden has explicitly recommended since the trove of documents on the NSA has been publicly revealed. (The list is in alphabetical order.) Ghostery Ghostery, made by a company called Evidon, is a browser extension for Chrome, Firefox, Safari and Internet Explorer. It exists for two purposes. The first is to block tracking code, which makes browsing the web both more private and also faster. The second purpose is, somewhat contradictory -- Evidon collects data from you to help advertisers avoid being blocked. It also enables website owners to gain insights into the tracking code deployed on their site by third-party advertising companies. Note that Snowden recommended Ghostery some time ago. But this month, the Electronic Frontier Foundation launched a competing product that I would imagine Snowden would recommend called Privacy Badger."
  • Paul Merrell on 26 Jul 14
     
    I'd back Snowden in 2016 as a write-in candidate for President.
Paul Merrell

Syria war: new push against Assad being planned, reports suggest | World news | theguar... - 0 views

www.theguardian.com/...al-effort-southern-front-assad

war & peace Syria U.S. foreign policy

shared by Paul Merrell on 13 Mar 14 - No Cached
  • After months of battlefield stalemate in Syria, a flurry of reports from Washington, Jerusalem, Amman and the Gulf suggests a major new clandestine effort is under way to open up a "southern front" against the regime of Bashar al-Assad.Central to the mooted plan is a renewed push to provide Syria's badly divided and often ineffectual moderate, secular rebel groups with additional funding, upgraded weapons and intelligence support.What use they may make of such support, if indeed it fully materialises, remains to be seen.The initiative, as reported in the region, is set against a backdrop of secret talks in the US last month between Susan Rice, Barack Obama's national security adviser, and Prince Mohammed bin Nayef, the Saudi interior minister in charge of covert action programmes in Syria.According to the usually well informed Washington Post columnist David Ignatius, spy chiefs from Jordan, Turkey, Qatar and other regional countries also attended the discussions, focused on making a "stronger effort" to help the rebels.
  • After months of battlefield stalemate in Syria, a flurry of reports from Washington, Jerusalem, Amman and the Gulf suggests a major new clandestine effort is under way to open up a "southern front" against the regime of Bashar al-Assad.Central to the mooted plan is a renewed push to provide Syria's badly divided and often ineffectual moderate, secular rebel groups with additional funding, upgraded weapons and intelligence support.What use they may make of such support, if indeed it fully materialises, remains to be seen.The initiative, as reported in the region, is set against a backdrop of secret talks in the US last month between Susan Rice, Barack Obama's national security adviser, and Prince Mohammed bin Nayef, the Saudi interior minister in charge of covert action programmes in Syria.
  • According to the usually well informed Washington Post columnist David Ignatius, spy chiefs from Jordan, Turkey, Qatar and other regional countries also attended the discussions, focused on making a "stronger effort" to help the rebels.This meeting has been linked in turn to last month's launching by the Free Syrian Army (FSA) of what they termed a spring offensive in the south of Syria. The offensive began days after they received new US weapons funding that may eventually total $31.4m (£18.9m), rebel commanders said.After holding back for months owing to fears that new arms might fall into the hands of al-Qaida affiliates, unidentified American officials said Congress had given closed-door approval in January for renewed cash for light weapons intended for the moderate, secular opposition in the south.The new US funding supposedly augments a fresh push by Gulf states to finance rebel operations in the southern region of Syria, which are ultimately aimed at Damascus. More than $1bn has been disbursed since last summer, much of it for weapons purchases in eastern Europe, according to Gulf government sources quoted by regional media.
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  • Detailed media reports claim the operational plans, supply routes and tactics for the new push are being overseen by a secret international operations command centre in Amman staffed by military officials from 14 countries, including the US, Britain, Israel and Arab states opposed to the Assad regime."Rebel fighters and opposition members say the command centre, based in an intelligence headquarters building in Amman, channels vehicles, sniper rifles, mortars, heavy machine guns, small arms and ammunition to Free Syrian Army units," the Abu Dhabi-based National newspaper reported.Jordan denies the existence of the centre and of reportedly CIA-run rebel training facilities in northern Jordan.
Paul Merrell

And The Benghazi Media Circus Plays On… | Global Research - 0 views

www.globalresearch.ca/...5380682

war & peace Benghazi Obama Hillary lies

shared by Paul Merrell on 07 May 14 - No Cached
  • A recent article written by this writer for Global Research posted last Saturday – “The Benghazi Scandal Is Obama’s Watergate But Worse” – was written in an effort to seek and uncover the truth. Accurate reporting on major world events is a challenge in today’s world where propaganda and disinformation are mainstream media norms and where virtually all major players in American politics simply lie through their teeth every time they open their mouths in constant effort to look good and cover up the truth. The American public knows this pathetic and sobering fact that deception has come to rule in the world of both politics and the media. People today neither believe their newscasters nor their political leaders. That is why examining the content of the tidal wave of assertions and opinions spewing forth from politicians and pundits in the aftermath of the latest Benghazi revelations must be taken with a grain of salt. Again, truth in today’s world is hard to come by. But as an investigative reporter, presenting a brief overview of recent comments and statements for any informed citizen to process and digest seems a worthwhile and important enterprise.
  • A timeline of recently unfolding events: On 10/12/12 exactly one month after the Benghazi incident, the legal conservative group Judicial Watch filed a Freedom of Information Act request seeking documents related to the Benghazi attack on September 11th, 2012 that killed the US Ambassador to Libya Christopher Stevens and three other Americans. Obama, who had campaigned on a promise of transparency in the criminal wake of the Bush regime, has proven to be anything but open and transparent. Having to sue the US government for access to the records, on April 18th, 2014, a full year and a half later, the Obama administration’s stonewalling ultimately failed and Judicial Watch successfully got hold of 41 State Department Benghazi related documents. Emails between high level White House officials discussing damage control strategies in the immediate aftermath of the Benghazi assault were released last week. Jubilant Republicans are now calling one of those emails their “smoking gun,” believing it is so incriminating that it will do in their would-be opponent Hillary Clinton from potentially competing in the 2016 presidential election.
  • The newly declassified email written by Obama’s then Deputy Strategic Communications Adviser Ben Rhodes specifically directed then UN Ambassador Susan Rice in preparation for her Sunday morning talk show appearances on September 16th, 2012 to explain the administration’s take on what it knew of the Benghazi murders. Rhodes advised Rice to attribute the Benghazi uprising as “rooted in an Internet video, and not a failure of policy,” pushing talking points designed to bolster Obama’s presidential image as a cool-as-a-cucumber-under-fire kind of wise and benevolent leader and statesman. The major emphasis of the email instructed Rice to blame the bogus anti-Moslem video as inciting a spontaneous protest like in other countries in the region that apparently grew violently out of control, of course all the while knowing that that was a boldface lie. This crucial piece of evidence proves that President Obama and Secretary of State Hillary Clinton both knew that the video did not cause the attack but that they chose to willfully deceive the American public in order to protect their own political careers and hence was born the infamously never ending Benghazi cover-up. Obama and Hillary withheld this damning email evidence even from the House Oversight Committee led by Congressman Darrel Issa (R-CA) requesting all documents pertaining to Benghazi more than a year ago. With the presidential election less than two months away at the time of the attack, Obama and Hillary were determined at all cost to keep hidden from Americans the real truth of criminal Benghazi activity they were guilty of engaging in during the months leading up to the attack. Last Thursday an angry Issa subpoenaed current Secretary of State John Kerry to appear before the committee on May 21st to further explain why those critical State Department records recently given to Judicial Watch were not among the 3200 documents originally handed over to his committee well over a year ago.
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  • Investigative reporter Kenneth R. Timmerman as author of a new forthcoming book entitled ‘Dark Forces: The Truth About What Happened in Benghazi’ states: We know that orders were issued, then recalled, to deploy a 50-man Special Forces unit from Croatia that could have reached Benghazi within hours.Timmerman concludes that to date no documents revealing the person who ordered that unit to stand down have yet to surface.
  • Within hours of the general’s testimony came rebukes from both the senior Republican and Democrat on the powerful House Armed Services Committee making claims backing the administration’s that the military was incapable of responding in time to assist the ill-fated Americans in Benghazi. Because they represent the military in Congress that had already drawn the conclusion that nothing tactically could have been done to save the four Americans, they were quick to rebut the general’s testimony. Yet the day before 9/11 every year since 9/11/01 including on 9/10/11, the president meets with top military and security personnel to ensure that US embassies around the globe are bolstered with much needed extra security for 9/11 readiness. Yet the Benghazi compound was so insecure despite repeated requests, both Obama and the military apparently failed to have any military units on standby that could reach Benghazi to be of service on the night of 9/11/12. And this comes after intelligence sources have been reporting insufficient security at the Benghazi embassy compound.
  • Another disclosure at last Thursday’s House Oversight Committee hearing further damaging the credibility and actions of the Obama administration came from retired Air Force General Robert Lovell who at the time of Benghazi was in Germany serving as the senior African Command deputy director for intelligence. Lovell testified, “We should have sent help,” adding that the White House decision not to attempt military assistance due to the time factor was unacceptable. Lovell also stated unequivocally that the military knew that the Benghazi attack had nothing to do with the video falsely used by the administration to explain away the tragedy. The ex-general felt his military should have intervened and was waiting all night long for the call that never came from his bosses in Washington. Clearly he feels a sense of remorse and regret over the passivity imposed on him by his commander-in-chief Obama and State Department head Clinton.
  • Meanwhile, last week in a heated exchange with ABC correspondent Jon Karl a visibly agitated White House Press Secretary Jay Carney insisted that Rhodes’ email was not related to Benghazi at all but referred to the Moslem protests generally taking place in the region in response to the video. The next day Fox reporter Ed Henry engaged Carney on the same issue, eliciting the same haranguing reaction. All this appears to be yet more desperate lies in a feeble attempt to cover his bosses’ Obama and Hillary’s asses called criminal guilt, and by so doing committing his own. Carney had been among the original recipients of Rhodes’ email. Carney further explained that the same Rhodes talking points echoed those delivered earlier to Congress and the White House by deputy CIA director Mike Morell who a month ago claimed he received no pressure or influence from anyone in the Obama administration in coming up with his version of what most likely transpired on 9/11/12 based on all CIA intelligence sources available at the time. Yet on his own Morell admitted to toning down the intelligence reports leading up to the Benghazi attack purposely so as to not appear to be an “I told you so” gesture that would offend Hillary and her State Department. That said, Hillary’s underling and rising star Victoria Nuland (the later promoted to profanity-speaking Assistant Secretary of State who played such a key role in the recent US backed fascist Ukrainan coup) objected to Morell’s talking points that in her mind leaned too heavily toward blaming her boss and their State Department for insufficient security at the Benghazi compound. Her words:
  • Why do we want Hill to start fingering Ansar Al Sharia [the known al Qaeda affiliated attackers that murdered the four Americans], when we aren’t doing that ourselves until we have the investigation results…and the penultimate point could be abused by Members to beat the State Department for not paying attention to Agency warnings so why do we want to feed that?… Concerned.Observe how the exclusive focus of all post-Benghazi interdepartmental correspondence from Rhodes’ to Morell’s to Nuland’s all center on appearance and potential perception to avoid CYA blame. Furthest down on their priority list is honest and truthful disclosure and self-accountability. Again, the name of the game in the world of politics is passing the buck whenever possible to minimize potential heat that comes with looking bad and maximizing looking good by any means or lies necessary. Benghazi perfectly illustrates all of this.
  • Based on the information finally coming to light all last week, last Friday House Speaker John Boehner (R-OH) called for a special select committee not unlike the one for Watergate to further investigate Benghazi. Representative Trey Gowdy (SC-R) has already been selected as its lead investigator. This grandstanding ploy seems a bit superfluous and redundant since the House Oversight Committee has ostensibly been trying to get to the bottom of Benghazi for nearly a year and a half, albeit thus far ineffective in its results, no help from the State Department’s prior email omissions. Not only is Benghazi the hot topic buzzing here in America, on that same day last Friday, more bullets was buzzing in Benghazi as well. Nine police security soldiers were gunned down by, you guessed it, the same murderers still remaining at large that were behind the 9/11/12 Benghazi attack – the militant group the US has for years labeled an al Qaeda affiliated terrorist organization Ansar al-Sharia. After massacring 31 peaceful demonstrators protesting outside the militants’ headquarters last June, last week’s massacre is a powerful statement showing that the terrorists are still in charge in Benghazi and immune from any accountability from the US installed puppet government either in Tripoli or Washington. They remain free men at large despite Obama’s promise to hunt them down and bring them to justice.
  • The senior Democratic House Intel Committee Representative Adam Schiff (D-CA) typifies the partisan Obama-Hillary politics games of each side racing to the media to point fingers at each other in their same old, same old blame game. On Sunday Schiff stated he does not want any Democrats to participate in the newly forming select committee that the Republican House Speaker Boehner has just recently called for, already naming its GOP chair. That is simply a game the Dems will refuse to play. Why? Because Republicans cannot make them. Sound familiar? Perhaps your 7-year old child might employ this same game strategy. Insider Dems like former White House advisor turned ABC analyst (and another original recipient of Rhodes’ infamous email) David Plouffe conveniently took to ABC’s Sunday morning On This Week with George Stephanopoulos crying foul even louder with their familiar “conspiracy” chant they customarily use to discredit any criticism leveled at the Obama administration. His cries reaching desperation this week accuse a “very loud, delusional minority” of Republicans of an obsessive politics game over Benghazi. Another all too familiar grade school tactic, whatever misbehavior you are accused of, simply accuse your enemy of the same offense, an old early childhood trick that you never need outgrow in the world of politics.
  • Still another indignant reaction hardcore defenders of Hillary and Obama are now quick to cite are the thirteen embassy attacks that occurred as so called “Benghazi’s on Bush’s watch” when not a peep was ever heard from the press. This straw house strategy is designed to show how Republicans and Fox News are hypocritical in their obsession to find dirt on Benghazi where they deny any exists. Yet this accusation seems to omit one very significant fact. Not one of those embassy attacks during the Bush regime resulted in any murdered Americans, much less four of them and one being a US Ambassador, something that has not happened in the last 32 years before Benghazi. The media circus demonizing partisan politics players on both sides epitomizes why the US government is so utterly broken, horribly dysfunctional, morally bankrupt and totally ineffective in addressing any and all of the most pressing problems facing America and the world today. The blame game is all they know. Yet in all their exaggeration, lies, name calling and finger pointing, not one of them is even addressing the pink elephant in the room.
  • Obama, Hillary and then CIA Director retired General Betrayus Petraeus were/are international gun running criminal outlaws of the worst kind, working with the very same al Qaeda terrorist bunch that murdered those four nearly forgotten Americans. US tax dollars were/are going into the pockets of Ansar al-Sharia and al Qaeda mercenaries that looted Muammar Kaddafi’s gold cache and enormous weapon arsenal that included chemical weapons as well as surface to air missiles. And Obama, Petraeus and 2016 presidential heir apparent Hillary were in deep over their heads under Hillary and Stevens’ State Department cover, shipping them from Benghazi through Turkey to Syria to covertly fight a war by proxy against Assad’s government forces. After more than three bloody years, to this day the US is still bent on destroying another sovereign nation posing absolutely no security threat to America. These are the war crimes constantly being committed by Obama, Petraeus and Hillary and their lies upon lies are unraveling at an accelerated clip with each passing month. Thus, expect to see more desperate acts of aggression from desperate despots who know that their jig is up. Yet desperate despots do not care how many humans they will take down with them. But justice for these longtime perpetrators of multiple crimes against humanity will be served in the end.
Paul Merrell

Pentagon pays Syrians $400 per month to fight ISIL - 0 views

www.usatoday.com/...29113251

war & peace Syria U.S.-foreign-policy mercenaries

shared by Paul Merrell on 01 Jul 15 - No Cached
  • The Pentagon has begun paying modest stipends to the Syrian moderates it hopes to field in the fight against Islamic State militants, the military confirmed Monday.Training of the first group of about 90 fighters began last month. They will be paid stipends of $250 to $400 per month, depending on their skills, performance and leadership, said Navy Cmdr. Elissa Smith, a Pentagon spokeswoman. Preparing the recruits for battle is expected to take several months.The Pentagon expects to have 3,000 fighters trained by year's end, Smith said. The goal for 12 months is 5,400. She declined to say how many are currently being trained."For operational security, we will not announce when coalition-trained Syrian opposition forces enter into Syria," she said.
  • Paul Merrell on 01 Jul 15
     
    That should polish off the last argument that the U.S. has not committed the crime of a war of aggression against Syria. Paying mercenaries to do the dirty work is no different legally from sending in the Marines. 
Paul Merrell

Reuters Investigates - UNACCOUNTABLE: The Pentagon's bad bookkeeping - 0 views

www.reuters.com/...pentagon

war & peace DOD financial-mismanagement

shared by Paul Merrell on 19 Nov 13 - No Cached
  • MILES OF AISLES: At the Defense Logistics Agency's giant storage facility outside Harrisburg, Pennsylvania, lack of reliable information on what's there makes it hard to throw out excess inventory. REUTERS/TIM SHAFFER
  • Part 2: For two decades, the U.S. military has been unable to submit to an audit, flouting federal law and concealing waste and fraud totaling billions of dollars
  • At the DFAS offices that handle accounting for the Army, Navy, Air Force and other defense agencies, fudging the accounts with false entries is standard operating procedure, Reuters has found. And plugging isn’t confined to DFAS (pronounced DEE-fass). Former military service officials say record-keeping at the operational level throughout the services is rife with made-up numbers to cover lost or missing information.
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  • Linda Woodford spent the last 15 years of her career inserting phony numbers in the U.S. Department of Defense’s accounts. Every month until she retired in 2011, she says, the day came when the Navy would start dumping numbers on the Cleveland, Ohio, office of the Defense Finance and Accounting Service, the Pentagon’s main accounting agency. Using the data they received, Woodford and her fellow DFAS accountants there set about preparing monthly reports to square the Navy’s books with the U.S. Treasury’s - a balancing-the-checkbook maneuver required of all the military services and other Pentagon agencies. And every month, they encountered the same problem. Numbers were missing. Numbers were clearly wrong. Numbers came with no explanation of how the money had been spent or which congressional appropriation it came from. “A lot of times there were issues of numbers being inaccurate,” Woodford says. “We didn’t have the detail … for a lot of it.”
  • The data flooded in just two days before deadline. As the clock ticked down, Woodford says, staff were able to resolve a lot of the false entries through hurried calls and emails to Navy personnel, but many mystery numbers remained. For those, Woodford and her colleagues were told by superiors to take “unsubstantiated change actions” - in other words, enter false numbers, commonly called “plugs,” to make the Navy’s totals match the Treasury’s. Jeff Yokel, who spent 17 years in senior positions in DFAS’s Cleveland office before retiring in 2009, says supervisors were required to approve every “plug” - thousands a month. “If the amounts didn’t balance, Treasury would hit it back to you,” he says.
  • Paul Merrell on 19 Nov 13
     
    Nothing new here. Remember when Donald Rumsfeld announced the day before 9-11 that the Pentagon could not account for $2.3 trillion? https://www.youtube.com/watch?v=oj1rT4bszWg It was the same way in Viet Nam. During my entire 27 months there, we could not be issued socks. We had to write home to ask family or friends to buy socks and send them to us. They could buy them at military surplus stores in the U.S., regulation Army field socks with cushion soles, but we couldn't get them from the Army. "An army travels on its feet," but no socks. Socks were not the only supply chain failures, of course. If you can't manage to get socks to your soldiers because they've been declared surplus, maybe you'd have problems accounting for expenditures too, ya' think? 
Gary Edwards

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

www.google.com/...view

obammunism baby-boomers john-gallo financial-collapse

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

Dan Ferris - What could really happen if Congress doesn't raise the debt ceiling - 0 views

www.thedailycrux.com/...Dan_Ferris

financial-collapse sovereign-debt-crisis national-debt

shared by Gary Edwards on 22 Jul 11 - No Cached
  • interest payments on Treasury securities total about $29 billion for the month of August,
  • U.S. brings in about $173 billion a month.
  • If 44% of the federal government employees were out of work as of August 2, it would amount to roughly 880,000 new productive workers
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  • $470 billion of debt the government has to roll over in the month of August
  • 2 million federal employees
  • We could be in for a rocky ride, but it's hard for me to understand how 44% less government would be anything but an economic miracle.
  • Gary Edwards on 22 Jul 11
     
    Without a debt ceiling increase by August 2, the government will wake up August 3 unable to pay approximately 44% of its bills for August. The overwhelming majority of those bills are simply disbursements of funds for government programs, without which this would be a richer, freer country. Interest on the national debt due in August is not a big item. in the weeks and months that follow August 2, something unexpected would happen... something nobody in government wants you to know. You'd find out how much you don't need the government. ......
Paul Merrell

18 Signs That The Global Economic Crisis Is Accelerating As We Enter The Last Half Of 2014 - 0 views

theeconomiccollapseblog.com/...we-enter-the-last-half-of-2014

financial-collapse bubbles economic-indicators

shared by Paul Merrell on 04 Jul 14 - No Cached
  • #1 The Bank for International Settlements has issued a new report which warns that "dangerous new asset bubbles" are forming which could potentially lead to another major financial crisis.  Do the central bankers know something that we don't, or are they just trying to place the blame on someone else for the giant mess that they have created? #2 Argentina has missed a $539 million debt payment and is on the verge of its second major debt default in 13 years. #3 Bulgaria is desperately trying to calm down a massive run on the banks that threatens of spiral out of control. #4 Last month, household loans in the eurozone declined at the fastest rate ever recorded.  Why are European banks holding on to their money so tightly right now? #5 The number of unemployed jobseekers in France has just soared to another brand new record high.
  • #6 Economies all over Europe are either showing no growth or are shrinking.  Just check out what a recent Forbes article had to say about the matter... Italy’s economy shrank by 0.1% in the first three months of 2014, matching the average of the three previous quarters. After expanding 0.6% in Q2 2013, France recorded zero growth. Portugal shrank 0.7%, following positive numbers in the preceding nine months. While figures weren’t available for Greece and Ireland in Q1, neither country is showing progress. Greek GDP dropped 2.5% in the final three months of last year, and Ireland limped ahead at 0.2%. #7 A few days ago it was reported that consumer prices in Japan are rising at the fastest pace in 32 years.
  • #8 Household expenditures in Japan are down 8 percent compared to one year ago. #9 U.S. companies are drowning in massive amounts of debt, but the corporate debt bubble in China is so bad that the amount of corporate debt in China has actually now surpassed the amount of corporate debt in the United States. #10 One Chinese auditor is warning that up to 80 billion dollars worth of loans in China are backed by falsified gold transactions.  What will that do to the price of gold and the stability of Chinese financial markets as that mess unwinds? #11 The unemployment rate in Greece is currently sitting at 26.7 percent and the youth unemployment rate is 56.8 percent.
  • ...2 more annotations...
  • #12 67.5 percent of the people that are unemployed in Greece have been unemployed for over a year. #13 The unemployment rate in the eurozone as a whole is 11.8 percent - just a little bit shy of the all-time record of 12.0 percent. #14 The European Central Bank is so desperate to get money moving through the system that it has actually introduced negative interest rates. #15 The IMF is projecting that there is a 25 percent chance that the eurozone will slip into deflation by the end of next year. #16 The World Bank is warning that "now is the time to prepare" for the next crisis. #17 The economic conflict between the United States and Russia continues to deepen.  This has caused Russia to make a series of moves away from the U.S. dollar and toward other major currencies.  This will have serious ramifications for the global financial system as time rolls along.
  • #18 Of course the U.S. economy is struggling right now as well.  It shrank at a 2.9 percent annual rate during the first quarter of 2014, which was much worse than anyone had anticipated.
Teresa Carter

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shared by Teresa Carter on 19 Jan 16 - No Cached
  • Teresa Carter on 19 Jan 16
     
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Teresa Carter

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shared by Teresa Carter on 02 Feb 16 - No Cached
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