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While I'd be the first to agree that the degree of fiscal mismanagement of this nation's economy is beyond insane and have to admit that I see very little to admire in Barack Obama's presidency, the meme about Executive Order 13603 authorizing confiscation of any property and enslavement of the American public needs to be put to rest. See http://www.archives.gov/federal-register/executive-orders/2012.html#13603 E.O. 13603 is not much more than an updating of similar executive orders issued by prior presidents beginning with Dwight Eisenhower. In fact, in skimming it a few minutes ago, I didn't see anything drastically different from some of the prior related orders. E.g., it reflects that a bunch of agencies that were formerly either independent or under other departments are now under the newish Department of Homeland Security, whose Secretary now gets the authority formerly delegated to other department and agency heads. If blame must be cast, it belongs on the Congress that enacted the Defense Production Act of 1950, 50 U.S.C. 2061, et seq. The executive order does no more than obey that Act's instructions. For example there is a section authorizing pre-emption of manufacturing capacity of critical industries over any existing civilian contracts in the event of a national emergency, but that language is in the statute as well. But that power hasn't had much traction since Harry Truman tried to nationalize the steel industry to break a nationwide strike. The Supreme Court swatted down that effort as an abuse of a power that would be lawful in a true emergency, like another major. But even that semi-radical "survival" power is ameliorated by other provisions of the statute and the order that authorize loan guarantees for companies' construction and maintenance of critical productive capacity. Much of that has been implemented over the years as outright grants. So for example, many chemical manufacturing plants were built with Defense Production Act funds, with

See also http://tass.ru/en/infographics/7275 (Gazprom to eliminate gas pipelines to Europe via Ukraine during 2018). 

The inimitable Mike Whitney.

It's an overall concept I've designated as the Democratic Bankruptcy Paradox: The paradox by which every democracy eventually goes bankrupt-regardless of the people's will and intention of keeping it from going bankrupt. That's why it's a paradox: The citizens of a democratic state are supposed to control its destiny. They obviously do not want their nation to suffer bankruptcy-yet in spite of their will and intent, democratic states always go bankrupt. Always. This post will outline my proof of why this is so. I will first explain the logic of my Democratic Bankruptcy Paradox theory, and how it is derived from a rather recently articulated problem in philosophy called the discursive dilemma, or sometimes the doctrinal dilemma; an aspect of group agency that has been used primarily in legal theory, but which I've realized has some fairly interesting-and radical-applications to macro-economics and public finance in representative democracies. I will then explain how the discursive dilemma, when applied to macro-economics and fiscal policy in a democratic regime, leads to the Democratic Bankruptcy Paradox. It is here that I will prove two general conclusions: * One: Democracies always act in a fiscally incoherent manner. * Two: Democracies always go bankrupt-without exception.  Finally, I will show how my Democratic Bankruptcy Paradox theory applies to the American case, and explain why the U.S. governments at the local, State and Federal level spend more than they bring in-even as their citizens uniformly oppose this state of affairs.

Tyler Durden does the numbers and presents us with a jaw dropping chart.  Simply put; $2.5 Trillion in new debt ceiling equals $2.5 Trillion in newly printed dollars.  And Gold will go up exactly in lock step with the rising debt ceiling. excerpt: Two weeks ago we presented a chart that shows the uncanny correlation between the debt ceiling and the price of gold. Now that we know the final amount of the next debt ceiling hike, somewhere in the $2.5 trillion ballpark, it allows us to extrapolate where gold will end up as a result of the debt ceiling hike which will likely be voted into law at 7pm PDT. A simple correlation rule of thumb allows us to predict that gold will be at $1,950 by the end of the year if it simply retains it close correlation to the debt ceiling. Should Bernanke announce that he will additionally need to monetize some or all of this incremental debt amount, we anticipate that gold will be well over $2,000 by the end of the year, courtesy of yet another round of accelerated dollar debasement, which also means that real gains in US stocks will be negated courtesy of the devaluation of the currency in which they are priced. The same, however, does not apply for gold, which with every passing day is priced in nothing but itself.

The article is by the Chairman of Stratfor, a private intelligence company. I don't agree with its analysis because I am decidedly non-interventionist. But this article should be required reading for all who have fallen for the war fever being spread by the War Party for full-scale military invasion of Iraq and Syria. The article at least lays a sound basis for a large degree of restraint.

My favorite part so far, NSA head Gen. Keith Alexander called Snowden "an individual who is not acting, in my opinion, with noble intent". Let's consider for a moment that as a U.S. Army officer, Gen. Alexander, initially and upon each promotion, was required to "solemnly swear (or affirm) that I will support and defend the Constitution of the United States against all enemies, foreign and domestic, that I will bear true faith and allegiance to the same; that I take this obligation freely, without any mental reservations or purpose of evasion; and that I will well and faithfully discharge the duties of the office upon which I am about to enter; So help me God."  http://www.army.mil/values/officers.html So what part of "support and defend the Constitution of the United States" is it that he didn't catch? U.S. military officers are required by law to disobey illegal commands. Can this man seriously believe that his mission does not violate the U.S. Constitution?  The Fourth and Fifth Amendments were direct reactions to the British Army's practice of invading Colonist's homes at will. destroying their privacy and seizing anything in sight including its residents, their papers, their personal effects, and their property without judicial warrant or due process and just compensation. But that is just what Gen. Alexander assists in. He is a usurper of our Constitution. But let's compare the courage of Edward Snowden and Keith Alexander: "Common experience shows how much rarer is moral courage than physical bravery.  A thousand men will march to the mouth of the cannon where one man will dare espouse an unpopular cause." - Clarence Darrow   "Few are willing to brave the disapproval of their fellows, the censure of the colleagues, the wrath of their society. Moral courage is a rarer commodity than bravery in battle or great intelligence. Yet it is the one essential, vital quality for those who seek to change a world that yields most painfully to change." -

Netanyahu is getting pounded in the Israeli press for offending Obama. It is hihgly significant that Netanyahu changed the date for his speech to Congress to coincide with the annual AIPAC conference.  During the AIPAC conference, hundreds of Isarel-firsters descend on Washington, D.C., get their marching orders and scripts, and fan out to descend on the offices of members of Congress. Then nearly all members of Congress will reciprocate by attending Netanyahu's speech to the AIPAC conference and giving him many standing ovations as he addresses the joint session of Congress. (24 standing ovations on his last speech to Congress). It is a sickening display of disloyalty to America but you don't get to stay in Congress if you speak out against AIPAC because AIPAC will arrange for your opponent in the next election to get very big bucks and you will be subjected to merciless rumor warfare.   But in any event, this will be an all-out effort to get Congress to enact more sanctions against Iran. Netanyu's goal will be a veto proof super-majority. If he gets that and Congress overrides Obama's veto, that will be the end of the negotiations with Iran. And Netanyahu's read is that if he can take credit for scuttling the Iran negotations, that will translate into votes in the Israeli election scheduled for two weeks after his speech to Congress. 

Heritage Foundation white paper: Forward: The commemoration of the bicentennial of the United States Constitution should be an occasion of festivity tempered by solemn gratitude for the gift our Founding Fathers bequeathed to us. But if the Constitution is to survive as something more than an abstract symbol - a parchment counterpart of the Statue of Liberty - the celebration must also be the occasion for broadened public awareness of the principles of constitutional government. For the anniversary comes at a time of grave crisis in our constitutional history. The federal judiciary, originally designed as part of a carefully balanced mechanism in which it shared guardianship of the Constitution with the executive, the two houses of Congress, and the state governments, has gradually taken sole custody unto itself, proclaiming that its decisions and not the Constitution are the supreme law of the land. What is even more dangerous, the Supreme Court has, during the last two or three decades, become progressively more blatant in disregarding the Constitution and arriving at decisions on the basis of the justices' ideological predilections in regard to "social progress" and "human dignity." These usurpations are compatible neither with the idea of constitutional government nor with the ideal of a government of laws. All the essays in this volume are, in one way or another, addressed to this problem, its ramifications, and its implications. They are the product of long, deep, and careful research and reflection; but, though they are appropriately cast in the muted tones of scholarship, collectively they sound an alarm bell in the night. Every thinking and public-spirited American can learn from their message. For two centuries the Constitution has provided the American people with a framework of limited government, designed for liberty. It is up to us to preserve that framework for our posterity, even as the Founders created it for theirs. Next year we will celebr

"For the past eight years, Barack Obama has been using the power of the U.S. presidency to impose his vision of a progressive world order on the entire globe.  As a result, much of the planet will greatly celebrate once the Obama era officially ends on Friday.  The Obama years brought us the Arab Spring, Benghazi, ISIS, civil war in Syria, civil war in Ukraine and the Iran nuclear deal.  On the home front, we have had to deal with Obamacare, "Fast and Furious", IRS targeting of conservative groups, Solyndra, the VA scandal, NSA spying and the worst "economic recovery" since the end of World War II.  And right at the end of his presidency, Barack Obama has committed the greatest betrayal of Israel in U.S. history and has brought us dangerously close to war with Russia. So is the end of the Obama world order worth celebrating? You better believe it is. Of course Obama and his minions are in a great deal of distress that much of their hard work over the past eight years is about to be undone by Donald Trump.  On Wednesday, Vice President Joe Biden warned the elitists gathered at the World Economic Forum in Davos that their "liberal world order" is in danger of collapsing…     Vice President Joe Biden delivered an epic final speech Wednesday to the elites at the World Economic Forum in Davos, Switzerland.   The gist of his speech was simple: At a time of "uncertainty" we must double down on the values that made Western democracies great, and not allow the "liberal world order" to be torn apart by destructive forces. And without a doubt, we definitely want it to collapse. During his time in the White House, Barack Obama has used the full diplomatic power of the government to promote "abortion rights", "gay rights" and other "liberal values" to the farthest corners of the globe.  Here at home, the appointment of two new Supreme Court justices under Obama paved the way for the Supreme Court decision that forced all 50 state

This is the largest part of the real back story on John Kerry's feverish effort to negotiate a two-state solution to the Israel-Palestine apartheid problem. The Palestinian Boycott, Divestment, and Sanctions ("BDS") movement against Israel is growing rapidly, nearly doubling the rate of growth of the former BDS movement that successfully ended apartheid government of South Africa.   Israel has become a pariah state diplomatically because of its war crimes against Palestinians and because of BDS, is increasingly becoming a pariah state economically. At the same time, Israel has illegally colonized Palestine to the extent that a 2-state solution is all but impossible, meaning that the most likely outcome is that Israel will cease being the "Jewish State" and be forced to grant equality to Palestinians as well in a new secular government. The situation became all the more dire for Israel as the "Jewish State" when the U.N. General Assembly granted Palestine observer state status, opening the way for Palestine to, e.g., pursue criminal prosecution of Israeli leaders for war crimes before the International Criminal Court.  That has dramatically increased the Palestinian Authority's leverage in negotiations. Kerry is on a rescue mission to see if he can coerce the Palestinian Authority to cede sufficient land and powers to Israel to make a 2-state solution credible. Kerry's leverage is that the U.S. has been underwriting the Palestinian Authority's expenses and can threaten to withdraw the financial support.  All of which brings it down to the question of Palestinian Authority leadership corruption. If the PA stands tall and refuses to accept Kerry's ridiculous demands, there will almost certainly be no 2-state solution, ever, because Israel continues to colonize Palestine and has locked up most of Palestine's water resources. Further colonization means still less water for an "independent" Palestine state. The Palestine Authority, on the other hand, suffered f

Cute. The Ukrainian government needs $17 billion to service its debt to the banksters. The IMF agrees to hand over another $3 billion loan, while Obama promises another $1 billion, not nearly what is needed (Russia had offered $15 billion, an offer withdrawn in light of the coup instigated by the U.S. Now the austerity measures and privatization that always accompanies IMF loans begin. One of the first announced was to cut pensioners' monthly checks in half. Meanwhile, Iceland's economy continues to rebound after having refused to bail out its banksters and putting them in prison instead.

excerpt: "While banks opposed the legislation, they should cheer for its passage by the full Congress in the New Year: There are huge giveaways insuring the government will again rescue banks and Wall Street if the need arises. Nuggets Gleaned Here are some of the nuggets I gleaned from days spent reading Frank's handiwork: -- For all its heft, the bill doesn't once mention the words "too-big-to-fail," the main issue confronting the financial system. Admitting you have a problem, as any 12- stepper knows, is the crucial first step toward recovery. -- Instead, it supports the biggest banks. It authorizes Federal Reserve banks to provide as much as $4 trillion in emergency funding the next time Wall Street crashes. So much for "no-more-bailouts" talk. That is more than twice what the Fed pumped into markets this time around. The size of the fund makes the bribes in the Senate's health-care bill look minuscule. -- Oh, hold on, the Federal Reserve and Treasury Secretary can't authorize these funds unless "there is at least a 99 percent likelihood that all funds and interest will be paid back." Too bad the same models used to foresee the housing meltdown probably will be used to predict this likelihood as well. More Bailouts -- The bill also allows the government, in a crisis, to back financial firms' debts. Bondholders can sleep easy -- there are more bailouts to come. -- The legislation does create a council of regulators to spot risks to the financial system and big financial firms. Unfortunately this group is made up of folks who missed the problems that led to the current crisis. -- Don't worry, this time regulators will have better tools. Six months after being created, the council will report to Congress on "whether setting up an electronic database" would be a help. Maybe they'll even get to use that Internet thingy. -- This group, among its many powers, can restrict the ability of a financial firm to trade for its own account. Perha

So if Raghavan is correct, a new treaty will emerge from the debacle that limits but does not end foreign surveillance. And if so, I predict that it will have no enforcement provisions and absolutely no citizen remedies for rights violated. The farther we go down the NSA rabbit hole, the more convinced I am that it is a stark choice between having spy agencies equipped for digital surveillance and Internet Freedom.  Internet Freedom seems far better equipped to produce world peace through understanding than spy agencies who deliver their "intelligence" to only the favored few. 

Quote from Obama: "I will cut investments in unproven missile defense systems. I will not weaponize space. I will slow our development of future combat systems. [snip] I will set a goal of a world without nuclear weapons. To seek that goal, I will not develop new nuclear weapons. I will seek a global ban on the production of fissile material. And I will negotiate with Russia to take our ICBM's off hair-trigger alert." Wow. Is Barack Obama planning a unilateral drawdown of U.S. forces? He says that's what he wants, and he sounds pretty clear about it to me.

Occupy's busting out on a new path ... So Adbusters is asking people all around the world to march on Oct. 29. "We want to send a clear message that we the people want to slow down this global casino." And Adbusters does have one specific demand, a 1 percent tax on financial-sector transactions (perhaps stocks, bonds, foreign-currency trades and derivatives). Some form of that idea, known as the "Robin Hood" tax, has been around for a while and might actually fly. - Jerry Large/Seattle Times Dominant Social Theme: We want justice for the world and the UN will give it to us. Free-Market Analysis: Kalle Lasn, founder of Adbusters magazine, based in Vancouver, B.C. - the magazine that issued the call for the initial Occupy Wall Street protests - has called on people to protest the upcoming G20 while demanding a one-percent tax on financial transactions. The revenue raised would be enormous and the lingering question is where this incredible revenue stream would be directed. The answer is obvious to those who follow what we call "directed history." The intention is likely to fund the UN as part of a final push to rationalize and perfect the initial stages of true world government. As we have written before, the movement toward world government is happening very quickly now. The ramifications are enormous and people who write off these protests as spontaneous and short-lived are not grasping what is taking place, in our humble opinion. The financial sales tax has been around for a very long time but has found its most recent voice in a column by Jerry Large of the Seattle Times. He recently gained an exclusive interview with Kalle Lasn, who sounds as if he hopes that a large protest on Oct 29th will mark the beginning of a push for such a tax. What's going on is pure one-worldism, an OWS ideology that is gradually revealing itself in dribs and drabs. It is one reason that that the OWS leaders have made no specific demands. They have hoped to create a momentu

"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

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