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Paul Merrell

The Fed caused 93% of the entire stock market's move since 2008: Analysis - Yahoo Finance - 0 views

  • The bull market just celebrated its seventh anniversary. But the gains in recent years – as well as its recent sputter – may be explained by just one thing: monetary policy. The factors behind that and previous bubbles can be illuminated using simple visual analysis of a chart. The S&P 500 (^GSPC) doubled in value from November 2008 to October 2014, coinciding with the Federal Reserve Bank’s “quantitative easing” asset purchasing program. After three rounds of “QE,” where the Fed poured billions of dollars into the bond market monthly, the Fed’s balance sheet went from $2.1 trillion to $4.5 trillion. This isn’t just a spurious correlation, according to economist Brian Barnier, principal at ValueBridge Advisors and founder of FedDashboard.com. What’s more, he says previous bull runs in the market lasting several years can also be explained by single factors each time.
  • Barnier first compiled data on the total value of publicly-traded U.S. stocks since 1950. He then divided it by another economic factor, graphing the ratio for each one. If the chart showed horizontal lines stretching over long periods of time, that meant both the numerator (stock values) and the denominator (the other factor) were moving at the same rate. “That's the beauty of the visual analysis,” he said. “All we have to do is find straight, stable lines and we know we've got something good.”
  • Scouring hundreds of different factors, Barnier ultimately whittled it down to just four factors: GDP data five years into the future, household and nonprofit liabilities, open market paper, and the Fed’s assets. At different stretches of time, just one of those was the single biggest driver of the market and was confirmed with regression analyses.
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  • He isolated each factor in a separate chart, calling them “eras” for the stock market. From after World War II until the mid-1970s, future GDP outlook explained 90% of the stock market’s move, according to statistical analysis by Barnier. GDP growth lost its sway on the market in the early 1970s with the rise of credit cards and consumer debt. Household liabilities grew with plastic first, followed by home mortgages, until the real estate crash of the early 1990s. Barnier’s analysis shows debt explained 95% of the entire market’s move during this time. The period between the mid- to late-1990s until 2000 was, of course, marked by the tech bubble. While stocks took much of the headline, that time also saw heightened activity in the commercial paper market. Startups and young companies sought cash beyond their stratospheric share values to fund their operations. Barnier’s regression analysis shows commercial paper increases could explain as much as 97% of the tech bubble. Shortly after the tech bubble burst, a housing bubble began, once more in the form of mortgages and other debt. That drove 94% of the market’s move for the first several years of the current century.
  • As the financial crisis reached a fevered pitch in 2008, the Federal Reserve took to flooding the financial market with dollars by buying up bonds. Simultaneously, interest rates fell dramatically, as bond yields move in the opposite direction of bond prices. Barnier sees the Fed as responsible for over 93% of the market from the start of QE until today. During the first half of 2013, the Fed caused the entire market’s growth, he said. Since the Fed stopped buying bonds in late 2014, the S&P 500 has been batted around in a 16% range and is more or less where it was when the QE came to a close. Investors need to anticipate the next driver, said Barnier. “Quantitative easing has stopped, but now we're into the interest rate world,” he said. “That means for any investor trying to figure out what to do, step one is starting with a macro strategy.”
Paul Merrell

Kremlin 'covered up the murder of a former KGB chief' | Daily Mail Online - 0 views

  • The Kremlin may have covered up the murder of a former KGB chief accused of helping ex-MI6 spy Christopher Steele to pull together the notorious dossier on Donald Trump.Oleg Erovinkin served as a general in the KGB and was found dead on Boxing Day in the back of his car in Moscow.It has been claimed he died of a heart attack, but an expert on Russian security threats believes he was murdered for his role in the explosive dossier.  The suspected murder victim was close to former deputy prime minister Igor Sechin, who is named throughout the leaked memo, according to the Telegraph.Erovinkin is understood to have been an important link between Sechin and leader of the Kremlin Vladimir Putin.Agent Steele's dossier, which was made public earlier this month, noted how he had a source close to Sechin.
  • He said the source had revealed alleged links between the US President's supporters and Moscow. At the time of Erovinkin's death, Russian state-run RIA Novosti news agency said his body was found in a black Lexus and that a major investigation was underway in the area. His body was sent to the morgue, which returned no cause of death, and the investigation continues. Local media reports suggested he was killed as a result of foul play, but it was later claimed he died of a heart attack. Christo Grozev, an expert on Russia-related security threats, wrote in a blog post, that he believes Erovinkin was Mr Steele's dossier source. He wrote that he has no doubt the dossier was on Putin's desk at the time the suspected victim died. 'Whichever is true,' he wrote, 'He would have had a motive to seek – and find the mole.
  • 'He would have had to conclude that Erovinkin was at least a person of interest.' The so-called dirty dossier states that in 2013 Trump hired prostitutes to urinate on the bed of the Presidential Suite at the Moscow Ritz Carlton, where he knew Barack and Michelle Obama had previously stayed.It says: 'Trump's unorthodox behavior in Russia over the years had provided the authorities there with enough embarrassing material on the now Republican presidential candidate to be able to blackmail him if they so wished.'The document states that Trump had declined 'sweetener' real estate deals in Russia that the Kremlin lined up in order to cultivate him.The business proposals were said to be 'in relation to the ongoing 2018 World Cup soccer tournament'The dossier claimed that the Russian regime had been 'cultivating, supporting and assisting Trump for at least five years'.According to the document, one source even claimed that 'the Trump operation was both supported and directed by Russian President Vladimir Putin' with the aim being to 'sow discord'.The report claims that Russian President Vladimir Putin himself had endorsed moves to encourage 'splits and divisions in the West.The dossier was handed over to the FBI in August although the information was also passed from the former MI6 agent to John McCain through an intermediary.McCain then handed the document over to FBI Director James Comey.
Gary Edwards

Gang of 545 and The Basic Flaw by Charley Reese - 2 views

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    Enough said.  Beautifully done Charlie! intro: Politicians are the only people in the world who create problems and then campaign against them. Have you ever wondered why, if both the Democrats and the Republicans are against deficits, we have deficits? Have you ever wondered why, if all the politicians are against inflation and high taxes, we have inflation and high taxes? You and I don't propose a federal budget. The president does. You and I don't have the Constitutional authority to vote on appropriations. The House of Representatives does. You and I don't write the tax code. Congress does. You and I don't set fiscal policy. Congress does. You and I don't control monetary policy. The Federal Reserve Bank does. One hundred senators, 435 congressmen, one president and nine Supreme Court justices - 545 human beings out of the 235 million - are directly, legally, morally and individually responsible for the domestic problems that plague this country.
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    Bay Area Patriot Group post
Paul Merrell

Endless Afghanistan? US-Afghan agreement would keep troops in place and funds flowing, perhaps indefinitely - World News - 0 views

  • While many Americans have been led to believe the war in Afghanistan will soon be over, a draft of a key U.S.-Afghan security deal obtained by NBC News shows the United States is prepared to maintain military outposts in Afghanistan for many years to come, and pay to support hundreds of thousands of Afghan security forces.The wide-ranging document, still unsigned by the United States and Afghanistan, has the potential to commit thousands of American troops to Afghanistan and spend billions of U.S. taxpayer dollars.The document outlines what appears to be the start of a new, open-ended military commitment in Afghanistan in the name of training and continuing to fight al-Qaeda. The war in Afghanistan doesn’t seem to be ending, but renewed under new, scaled-down U.S.-Afghan terms. Advertise | AdChoices “The Parties acknowledge that continued U.S. military operations to defeat al-Qaeda and its affiliates may be appropriate and agree to continue their close cooperation and coordination toward that end,” the draft states.
  • The 25-page “Security and Defense Cooperation Agreement Between the United States of America and the Islamic Republic of Afghanistan” is a sweeping document, vague in places, highly specific in others, defining everything from the types of future missions U.S. troops would be allowed to conduct in Afghanistan, to the use of radios and the taxation of American soldiers and contractors.The bilateral security agreement will be debated this week in Kabul by around 2,500 village elders, academics and officials in a traditional Loya Jirga. While the Loya Jirga is strictly consultative, Afghan President Hamid Karzai has said he won’t sign it without the Jirga’s approval.
  • The copy of the draft -- the full text is available here --  is dated July 25, 2013. As a working draft, it is particularly revealing because it shows the back and forth negotiations, as U.S. and Afghan officials added words and struck out paragraphs. The changes are marked by annotations still revealed in the text. The document is a work in progress. US officials say there have been more changes since July. The draft, however, does indicate the scope of this possible agreement with major implications for Washington, Kabul, U.S. troops and the continuation of America’s longest war.Taken as a whole, the document describes a basic U.S.-Afghan exchange. Afghanistan would allow Washington to operate military bases to train Afghan forces and conduct counter-terrorism operations against al-Qaeda after the current mission ends in 2014. For that foothold in this volatile mountain region wedged between Pakistan and Iran, the United States would agree to sustain and equip Afghanistan's large security force, which the government in Kabul currently cannot afford. The deal, according to the text, would take effect on Jan. 1, 2015 and “shall remain in force until the end of 2024 and beyond.” It could be terminated by either Washington or Kabul with two years advance written notice.
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  • There is however what U.S. officials believe is a contradiction in the July draft, which would effectively ask American troops to provide training and confront al-Qaeda from the confines of bases. While it says operations against al-Qaeda may be necessary, it also says US troops will not be allowed to make arrests or enter Afghan homes. Advertise | AdChoices “No detention or arrest shall be carried out by the United States forces. The United States forces shall not search any homes or other real estate properties,” it says.“[The contradiction] was a matter of serious consternation at the highest levels” of the Obama administration over the weekend, according to one senior defense official. “It is the one remaining issue that could ultimately kill the deal." However, US officials believe that in a more recent draft, which was circulated among key Pentagon officials and US lawmakers on Monday, the US has won its position on this point.The document doesn’t specifically say how many U.S. and NATO troops would remain in Afghanistan beyond 2014. Afghan officials tell NBC News they hope it will be 10 to 15 thousand. U.S. officials tell NBC News the number is closer to seven to eight thousand, with an additional contribution from NATO. Factoring in troop rotations, home leave, and breaks between deployments, the service of tens of thousands of American troops would be required to maintain a force of seven to eight thousand for a decade or longer. The anticipated costs would likely run into the billions quickly.
  • Afghan officials tell NBC NEWS the agreement is critical to Afghanistan’s future stability. Without ongoing military assistance, training and funding, those officials say the government could collapse and Afghanistan would enter a civil war. If the agreement passes, the draft says Washington would commit to a long -term, indefinite military involvement in this land-locked Asian nation.A spokesperson for the White House National Security Council did not comment on the draft version of the agreement, but said that "the President is still reviewing options from his national security team and has not made a decision about a possible U.S. presence after 2014."The agreement circulating this week is unlikely to be the last. It first must pass through the Loya Jirga, then go onto parliament for final approval. “We’re looking at 60-days or more” before the US and Afghanistan sign any agreement, defense officials said. Here are highlights of the July draft of the bi-lateral agreement:
Paul Merrell

Former PM Ehud Olmert jailed for six years for corruption - Israel News, Ynetnews - 0 views

  • Former Prime Minister Ehud Olmert was sentenced to six years in prison and fined NIS 1 million in court in Tel Aviv on Tuesday morning for his role in the 'Holyland Affair', the real estate corruption case considered the largest of its kind in Israeli history.
  • The case marks the first time a prime minister was convicted of a felony and now, with his sentencing, the first time a former prime minister has ever been sentenced to jail time.
  • Additional sentencing included Hillel Cherney, who was the developer behind the Holyland project and was sentenced to 3.5 years in prison and fined NIS 2 million. Cherney was convicted of 19 offences of corruption and a slew of additional corruption and break of trust offences.   Danny Dankner, the former chairman of Israel's second-biggest bank, also received three years in jail during Tuesday's senctencing. Dankner, who is now the joint chairman of Israel Salt Industries, was also fined a million and half shekel.   Avigdor Kelner, also a developer in the project, who was convicted of two corruption charge in the affair, was sentenced to three years and fined NIS 1 million.   Former Jerusalem Mayor Uri Lupolianski, who succeeded Olmert as the city's mayor, and Dankner, were both charged and convicted of offering hundreds of thousands of dollars in bribes to a government official to rezone land for the project.
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  • Ehud Olmert was also accused of asking the middleman to help out city engineer Uri Sheetrit, who also had money woes. Sheetrit later dropped his opposition to the broad expansion of the Holyland complex, which burgeoned from a small development into a massive, high-rise project that sticks out from its low-rise neighbors. According to the indictment, Sheetrit received hundreds of thousands of dollars in bribes.   Among those also sentenced on Tuesday was Sheetrit, who was sent to prison for seven years.
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    Notice that the former CEO of Israel's second-largest bank was among those convicted and sentenced to prison. So Israel joins Iceland in the exclusive club of nations willing to slap banksters with prison sentences, unless the sentence is overturned on appeal. 
Paul Merrell

The Debt To GDP Ratio For The Entire World: 286 Percent Washington's Blog - 0 views

  • Did you know that there is more than $28,000 of debt for every man, woman and child on the entire planet?  And since close to 3 billion of those people survive on less than 2 dollars a day, your share of that debt is going to be much larger than that.  If we took everything that the global economy produced this year and everything that the global economy produced next year and used it to pay all of this debt, it still would not be enough.  According to a recent report put out by the McKinsey Global Institute entitled “Debt and (not much) deleveraging“, the total amount of debt on our planet has grown from 142 trillion dollars at the end of 2007 to 199 trillion dollars today.  This is the largest mountain of debt in the history of the world, and those numbers mean that we are in substantially worse condition than we were just prior to the last financial crisis.
  • When it comes to debt, a lot of fingers get pointed at the United States, and rightly so.  Just prior to the last recession, the U.S. national debt was sitting at about 9 trillion dollars.  Today, it has crossed the 18 trillion dollar mark.  But of course the U.S. is not the only one that is guilty.  In fact, the McKinsey Global Institute says that debt levels have grown in all major economies since 2007.  The following is an excerpt from the report… Seven years after the bursting of a global credit bubble resulted in the worst financial crisis since the Great Depression, debt continues to grow. In fact, rather than reducing indebtedness, or deleveraging, all major economies today have higher levels of borrowing relative to GDP than they did in 2007. Global debt in these years has grown by $57 trillion, raising the ratio of debt to GDP by 17 percentage points (Exhibit 1). That poses new risks to financial stability and may undermine global economic growth. What is surprising is that debt has actually grown the most in China.  If you can believe it, total Chinese debt has grown from 7 trillion dollars in 2007 to 28 trillion dollars today.  Needless to say, that is absolutely insane…
  • What all of this means is that our long-term global economic problems have gotten much, much worse.  This short-lived period of relative stability that we have been enjoying has been fueled by unprecedented amounts of debt and voracious money printing.  Anyone with half a brain should be able to see that this is a giant financial bubble, and in the end it is going to unwind very, very painfully.  The following comes from a Canadian news source… At the beginning of 2008, government accounted for a smaller portion of the debt pie than corporate, household or financial debt. It now exceeds each of those other categories. “The current situation is much worse than in 2000 or 2007, and with interest rates near or at zero, the central banks have already used up their ammunition. Plus, the total indebtedness, especially the indebtedness of governments, is much higher than ever before,” said Claus Vogt, a Berlin-based analyst and co-author of a 2011 book titled The Global Debt Trap.
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  • “Every speculative bubble rests on some kind of a fairy tale, a story the bubble participants believe in and use as rationalization to buy extremely overvalued stocks or bonds or real estate,” Mr. Vogt argued. “And now it is the faith in the central-planning capabilities of global central bankers. When the loss of confidence in the Fed, the ECB etc. begins, the stampede out of stocks and bonds will start. I think we are very close to this pivotal moment in financial history.” But for the moment, the ridiculous stock market bubble continues.
  • Internet companies that didn’t even exist a decade ago are now supposedly worth billions upon billions of dollars even though some of them don’t make any money at all.  There is even a name for this phenomenon.  Internet companies that have gigantic valuations without gigantic revenue streams are being called “unicorns”… A dizzying mix of bold ideas and lavish investments has catapulted dozens of privately held start-ups to unicorn status, defined as having market valuations of at least $1 billion often without soaring revenues to match. Social-sharing site Pinterest has soared to $11 billion. Ride-hailing company Uber is now worth a staggering $50 billion. How long can the party last?
  • Sadly, the truth is that Wall Street is headed for a very painful awakening. What we are experiencing right now is the greatest financial bubble of all time. What comes after that is going to be the greatest financial crash of all time. 199,000,000,000,000 dollars of debt is about to come crashing down, and the pain of this disaster will be felt by every man, woman and child on the entire planet.
Paul Merrell

Trump lead grows, Clinton slips: poll | News , World | THE DAILY STAR - 0 views

  • Billionaire Donald Trump extended his lead yet again atop the Republican presidential field, with front-running Democrat Hillary Clinton slipping and Vice President Joe Biden faring better than her against Republicans, poll results revealed Thursday.Trump, the combative real estate mogul, leads the 16 other Republican candidates with 27 percent support among registered voters nationwide, up from 20 percent in a similar July 30 survey by Quinnipiac University.Thursday's lead marks the widest margin for any Republican so far in the election cycle, the survey said.
  • On the Democratic side, Clinton's support has shrunk, to 44 percent now compared with 55 percent on July 30, while her main rival Senator Bernie Sanders is polling at his highest level, 22 percent.Biden, who is not a declared candidate but is mulling jumping into the race, earned 17 percent in the poll. Significantly, Biden "has the best appeal in general election matchups against top Republicans," Malloy said.Biden beats Trump by nine points, Bush by five points, and Rubio by three points.Clinton beats them too but by smaller numbers: four points, two points and one point respectively.
  • Trump and Clinton are also seen as the least honest and trustworthy of the field.
Paul Merrell

Walker falls to 10th in Iowa in latest poll | TheHill - 0 views

  • Wisconsin Gov. Scott Walker's support in Iowa continues its free fall as fellow presidential hopefuls Donald Trump and Ben Carson remain ahead of the Republican pack by double digits, according to a new Quinnipiac University Poll. Walker, the former front-runner, tumbles to 10th place in the GOP presidential pack just two months after taking the top spot in the university’s July poll. Then, he had 18 percent support, compared to just 3 in the new poll.ADVERTISEMENTAs governor of a neighboring state, Walker had long been thought to be the presumptive leader in Iowa. But his support has steadily dropped since Trump entered the race in late June. The new numbers underscore the slide that Walker has seen across the board. He has dropped below former business executive Carly Fiorina for fifth place in the five most recent Iowa polls, just a hair above former Gov. Jeb Bush (Fla.). He’s in seventh place nationally and in the second presidential nominating state of New Hampshire. 
  • By contrast, outsiders Trump and Carson continue to have a dominant hold on the polls. Real estate mogul Trump showed 27 percent support, while retired neurosurgeon Carson received 21 percent, well ahead of Sen. Ted Cruz (Texas), who received 9 percent support.If Trump was not in the race, Carson is the second choice of a vast plurality of Trump voters, with 30 percent backing him. Cruz is the second choice of 11 percent of Trump voters.
Joseph Skues

Why capitalism can't meet human needs - 0 views

  • This crisis began when the housing bubble burst. Capitalist banks were lending money to profit-seeking real estate developers to build houses. The same banks were lending money to mortgage companies to make as many loans as they could. The goal was to boost profits. Soon there were more houses than the workers and the middle class could buy. The prices of homes fell. Mortgages could not be refinanced. Workers could not pay the steep increases in interest rates built into their loans. Banks stopped lending. Millions of households went into foreclosure. Put simply, people became homeless because there were too many houses! Not too many houses that were needed or already here, but too many houses that can be sold at a profit. Furthermore, the workers who build homes and all the workers who make the things that go into homes are losing their jobs because these homes can no longer be sold at a profit. That is the essence of all the capitalist crises that have occurred since the first crisis in 1825. It is the crisis of overproduction.
  • Now the crisis of overproduction is sweeping the auto industry. From the auto industry and the housing industry it is spreading throughout the economy. The stock markets are plummeting because the financial bailouts, the pumping of trillions of dollars into the banks, cannot stop the capitalist economic crisis.
  • Profits consist of unpaid labor.
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  • Under the system of capitalist exploitation wealth flows to the top, and the level of inequality is obscene.
  • the super-rich who have all the levers of power in society, owned 34.3 percent of the wealth in 2004.
  • Racism and national oppression
  • distribution of wealth under capitalism
  • the median wealth (that is, savings and other assets) of households by race in 2004 was $140,700 for whites, $20,600 for African Americans and $18,600 for Latin@s
  • Oppression and economic discrimination also fall on women and lesbian, gay, bi and trans people under capitalism
  • sex and gender bias as a way to divide and conquer.
  • A system in which people are homeless because there are too many homes must go
  • How else could 1 percent of the population dominate the workers and oppressed
  • As the present crisis engulfs wider and wider sections of the workers, the potential for bringing about that unity is growing stronger.
  • The Pentagon is nothing more than an enforcer for U.S. capitalism
  • The growing witch-hunt against undocumented workers has the same poisonous, divisive goal.
  • in which workers are losing their jobs and being plunged into poverty because they have produced too much wealth
  • which cannot provide jobs and education but imprisons 2.4 million people
  • majority of them Black and Latin@, is bankrupt
  • where production takes place for human need, not for profit. The class that produces the wealth, the multinational working class, should own and distribute that wealth.
  • Trillions of dollars are now being used to bail out the banks and fund the Pentagon under capitalism. Under socialism, that money would guarantee that everyone would have a decent job and income, free health care, affordable housing, free education, low-cost transportation, healthy, reasonably priced food and much more. The well-being of the multinational working class would be the goal of society, not their exploitation as it is under capitalism.
Gary Edwards

Honk if you're paying my mortgage! :: Tim Geithner, What Part Of This Chart Don't You Understand? - 0 views

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    Tim Geithner and Ben Bernanke are still parroting Wall Street's take on the meltdown--that it's a "liquidity crisis," not a "solvency crisis."  The infamous Schiller Chart is a history of Home Values going back to 1890. The Cahrt graphically screams that housing values have to fall another 20% to 30% before they might begin to level out. That is, if the capitalist engine of America's wealth and prosperity is still in existence then.
Gary Edwards

Obama's Mortgage Modification: Just More Predatory Lending in Disguise - 0 views

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    The best evidence that Obama's new mortgage scheme won't end well: look at the people who are the most excited about it. It's the same, smarmy mortgage guys that profited handsomely from the subprime crisis. In a great bit of deep dive reporting over at Salon -- hardly an outfit you'd expect to be critical of Obama -- Alyssa Katz, with help from The Nation Institute (also very liberal), shows how modifications are hardly the paragon of progressive idealism:
Gary Edwards

The Housing Chart That's Worth 1000 Words : Clusterstock's Henry Blodgett - 0 views

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    "Here's the big problem with almost all the current rhetoric about the housing crisis: It presumes that the goal should be to get house prices rising again.  The problem with that idea is that, even after a 25% decline, house prices are still way too high. " Even if there is a government mechanism that could stop house prices from plummeting and artificially pump them up again, therefore, it would just postpone the inevitable....." Henry covers the infamous Robert Schiller Housing Graph tracking home prices since 1890 to the present. He also includes an excerpt from James Quinn's acerbic but highly informed article. Mr. Quinn spares nothing in his loathing of congress, Barney Frank and Obama.
Gary Edwards

Rich Dad's Conspiracy of the Rich: The 8 New Rules of Money | Silver Monthly - The Silver Investor's Resource - 0 views

  • he makes it very clear that the rules of money changed dramatically when the U.S. went off the gold standard in 1971.  For up until that time, “technically, prior to 1971, the U.S. dollar was a derivative of gold.  After 1971, the U.S. dollar became a derivative of debt.”
  • The Invisible Bank Robbery
  • He says “since money is invisible, a derivative of debt, bank robberies by bankers have become invisible.” 
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  • Two ways these invisible robberies occur are:  fractional reserve banking, which is nothing more than banks lending money they don’t have; and deposit insurance, which “protects the bankers – not savers.” 
  • “why should an insurance company like AIG receive bailout money in the first place?  Isn’t bailout money reserved for banks?”
  • “because it owed the biggest banks in the world a lot of money and didn’t have the cash to pay up.”
  • five new rules
  • money is knowledge; learn how to use debt;
  • learn to control cash flow;
  • prepare for bad times and you will only know good times;
  • and the need for speed. 
  • The name of the game, according to Kiyosaki, is “cash flow.”
  • The focus has to be on cash flow, not on capital gains.
  • Businesses that provide passive cash flow. Income-producing real estate. Paper assets – stocks, bonds, savings, annuities, insurance and mutual funds. Commodities – gold, silver, oil, platinum, etc.
  • invest in four basic areas:
  • By selling more than you buy, you can eventually become rich.
  • in Kiyosaki’s opinion, the ultimate definition of “sell” is building a business and then taking it public.
  • “knowledge is the new money.”
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    As Kiyosaki writes in his book:  "So has there been a conspiracy?  I believe so, in a way."  He goes on to explain why he believes so, citing the lack of financial education in the school systems, the Federal Reserve Act, and Nixon's 1971 dismissal of the gold standard.  And most interestingly, Kiyosaki believes that 401(k) retirement vehicles placed the retirement money of average people in the hands of Wall Street. The first chapter of the book is entitled 'Can Obama Save the World?'  Kiyosaki's answer is no.  And apparently, Obama doesn't want to even if he could.  For he appointed Summers and Geithner, both of who played a part in repealing the Glass Steagall Act.  In other words, it's the same old same old.  Nothing has changed.  Which means that the average person needs to understand how taxes, debt, inflation, and retirement affect them.  Kiyosaki sums up the chapter by stating that once one understands the new rules of money, then one can "opt out of the conspiracy of the rich." From there, Kiyosaki moves on to explain how we got where we are.  He points the finger at the Federal Reserve Bank, which inflates the money supply, which destroys the value of savings and retirement plans.  And he makes it very clear that the rules of money changed dramatically when the U.S. went off the gold standard in 1971.  For up until that time, "technically, prior to 1971, the U.S. dollar was a derivative of gold.  After 1971, the U.S. dollar became a derivative of debt." Kiyosaki proceeds to discuss what he calls 'The Invisible Bank Robbery.'  He says "since money is invisible, a derivative of debt, bank robberies by bankers have become invisible."  Two ways these invisible robberies occur are:  fractional reserve banking, which is nothing more than banks lending money they don't have; and deposit insurance, which "protects the bankers - not savers."  Then he asks a very pertinent question:  "why should an ins
Gary Edwards

Will The Dollar Standard Collapse? - 0 views

  • Before I begin, I’ll make a prediction, since I’m an investor and my job is to predict. I increasingly believe that the dollar will collapse, and its ramifications could be as violent as when the credit markets cracked in July 2007. Currency collapses are nothing new, just as the bursting of a credit market bubble was nothing new. A dollar collapse could very well lead to carnage in domestic asset markets, whether it be the stock market, bond market, etc. Also, US imports and the overvalued dollar are fueling many of the export-oriented economies abroad, so a dollar collapse could wreak havoc on foreign asset markets as well. And once it happens, we’re going to view the collapse of the dollar as an obvious event that we should have long seen coming. Just as we now view the subprime wreckage and bursting of the real estate bubble as an event we should have easily predicted.The problem is timing. Does the dollar collapse in 2009, or 2015? And is it a slow depreciation, or a sudden 50% fall? Those are tougher questions. Richard Duncan predicted the dollar’s demise in 2002. His error of timing discredited an otherwise brilliant book.
  • In a sentence, “The Dollar Crisis” is about how the world changed in 1971. That was when Richard Nixon dropped the gold standard (or its close cousin, the Bretton Woods international monetary system). Here’s the youtube video: Youtube Bretton Woods. The end of the gold standard ushered in a new era of large trade imbalances and the buildup of foreign currency reserves, and these trade imbalances and large foreign currency reserves have had significant impacts on the global economy that many people don’t realize. Huge trade imbalances and large foreign reserves didn’t really exist during the gold standard. During the gold standard, a country’s money supply was determined by the amount of gold it had. Banks’ reserves were either gold or indirectly tied to gold, and so the amount of money they could lend, and that the nation could print, was backed by the nation’s gold reserves. To see the implications of that sort of monetary system on trade imbalances, let’s take a hypothetical United States and China, where the US is buying lots of goods from China. The US gets goods; China gets dollars. China takes its excess dollars, gives them to the US, and gets gold in exchange. The US gold reserves would decline, causing credit contraction in the US. This would lead to recession; prices would adjust downwards; and falling prices would enhance the trade competitiveness of the US. The US would stop exporting so many goods from China as China’s costs of production begin rising relative to the United States’. The US would stop being a net importer; gold would flow back in; and equilibrium on the balance of payments would be re-established.Under the gold standard, trade imbalances were unsustainable and self-correcting.
  • Today, in the system of fiat money, that’s no longer the case.
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    The Dollar Crisis Quick Synopsis:     * Abandoning the gold standard in 1971 has resulted in large global trade imbalances and a massive buildup of foreign currency reserves     * These trade imbalances and buildup of foreign reserves have resulted in frequent booms and busts since 1971     * The Japanese bust of 1989, the Asian economic crisis of 1997, and the current US credit market collapse have resulted from the post-1971 paper money monetary system     * Abandoning the gold standard has gradually resulted in a very overvalued US dollar, and that the dollar is headed for disaster     *  "The dollar standard is inherently flawed and increasingly unstable. Its collapse will be the most important economic event of the 21st century."
Paul Merrell

FBI Drops Law Enforcement as 'Primary' Mission - 0 views

  • The FBI's creeping advance into the world of counterterrorism is nothing new. But quietly and without notice, the agency has finally decided to make it official in one of its organizational fact sheets. Instead of declaring "law enforcement" as its "primary function," as it has for years, the FBI fact sheet now lists "national security" as its chief mission.
  • Whatever the reason, the agency's increased focus on national security over the last decade has not occurred without consequence. Between 2001 and 2009, the FBI doubled the amount of agents dedicated to counterterrorism, according to a 2010 Inspector's General report. That period coincided with a steady decline in the overall number of criminal cases investigated nationally and a steep decline in the number of white-collar crime investigations. "Violent crime, property crime and white-collar crime: All those things had reductions in the number of people available to investigate them," former FBI agent Brad Garrett told Foreign Policy. "Are there cases they missed? Probably."
  • According to a 2007 Seattle Post-Intelligencer investigation, the Justice Department did not replace 2,400 agents assigned to focus on counterterrorism in the years following 9/11. The reductions in white-collar crime investigations became obvious. Back in 2000, the FBI sent prosecutors 10,000 cases. That fell to a paltry 3,500 cases by 2005.  "Had the FBI continued investigating financial crimes at the same rate as it had before the terror attacks, about 2,000 more white-collar criminals would be behind bars," the report concluded. As a result, the agency fielded criticism for failing to crack down on financial crimes ahead of the Great Recession and losing sight of real-estate fraud ahead of the 2008 subprime mortgage crisis.
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  • What's not in question is that government agencies tend to benefit in numerous ways when considered critical to national security as opposed to law enforcement. "If you tie yourself to national security, you get funding and you get exemptions on disclosure cases," said McClanahan. "You get all the wonderful arguments about how if you don't get your way, buildings will blow up and the country will be less safe."
Paul Merrell

European Banks vs. Greek Labour   :  Information Clearing House - ICH - 0 views

  • PERIES: So, Michael, these international banks represented by the finance ministers now in Brussels, when they were in crisis and we the public treasury bailed them out, they had no problem with that. Why are they now refusing to assist Greece at a time of need when in fact some politicians and even the troika is being more receptive to what Greece is saying? HUDSON: Because what's at issue really is a class war. It's not so much Germany versus Greece, as the papers say. It's really the war of the banks against labor. And it's a continuation of Thatcherism and neoliberalism. The problem isn't simply that the troika wants Greece to balance the budget; it wanted Greece to balance the budget by lowering wages and by imposing austerity on the labor force. But instead, the terms in which Varoufakis has suggested balancing the budget are to impose austerity on the financial class, on the tycoons, on the tax dodgers. And he said, okay, instead of lowering pensions to the workers, instead of shrinking the domestic market, instead of pursuing a self-defeating austerity, we're going to raise two and a half billion from the powerful Greek tycoons. We're going to collect the back taxes that they have. We're going to crack down on illegal smuggling of oil and the other networks and on the real estate owners that have been avoiding taxes, because the Greek upper classes have become notorious for tax dodging.
  • Well, this has infuriated the banks, because it turns out the finance ministers of Europe are not all in favor of balancing the budget if it has to be balanced by taxing the rich, because the banks know that whatever taxes the rich are able to avoid ends up being paid to the banks. So now the gloves are off and the class war is sort of back. Originally, Varoufakis thought he was negotiating with the troika, that is, with the IMF, the European Central Bank, and the Euro Council. But instead they said, no, no, you're negotiating with the finance ministers. And the finance ministers in Europe are very much like Tim Geithner in the United States. They're lobbyists for the big banks. And the finance minister said, how can we screw up this and make sure that we treat Greece as an object lesson, pretty much like America treated Cuba in 1960?
  •  
    Just as you've given up on society, life throws you some comedy. 
Paul Merrell

SANTIAGO, Chile: Chilean accused of murder, torture taught 13 years for Pentagon | National Security & Defense | McClatchy DC - 0 views

  • A member of the late Chilean dictator Augusto Pinochet’s brutal secret police who’s been accused of murder taught for more than a decade at the Pentagon’s premier university, despite repeated complaints by his colleagues about his past. Jaime Garcia Covarrubias is charged in criminal court in Santiago with being the mastermind in the execution-style slayings of seven people in 1973, according to court documents. McClatchy also interviewed an accuser who identified Garcia Covarrubias as the person who sexually tortured him.Despite knowing of the allegations, State and Defense department officials allowed Garcia Covarrubias to retain his visa and continue working at a school affiliated with the National Defense University until last year .Human rights groups also question the school’s selection of a second professor, Colombia’s former top military commander.
  • Some Latin America experts said the hirings by the William J. Perry Center for Hemispheric Defense Studies reflected a continuing inclination by the U.S government to overlook human rights violations in Latin America, especially in countries where it funded efforts to quash leftists. But those experts were especially troubled by Garcia Covarrubias’ long tenure at one of the nation’s most renowned defense institutions. “His hiring undermines our moral authority on both human rights and in the war on terror,” said Chris Simmons, a former Defense Intelligence Agency and Army intelligence officer from 1982 to 2010 who specializes in Latin America. “If he is in fact guilty of what he is accused of, he is a terrorist. Then who are we to tell other countries how they should be fighting terrorism?” To his supporters, Garcia Covarrubias is a brilliant thinker with a Ph.D. and purveyor of leadership skills. To his alleged victims, he’s a sadistic torturer with a penchant for horsewhips and perversity.
  • A 2008 Chilean military document reviewed by McClatchy identified Garcia Covarrubias as a member of the Dirección de Inteligencia Nacional, the feared spy agency known by its acronym DINA.“DINA was simply the most sinister agency in Latin America,” said Peter Kornbluh, a senior analyst with the National Security Archive, which secured the release of U.S. government classified documents underscoring the complicit relationship between the U.S. and Pinochet. “Anyone associated with that agency should never have been allowed into this country, let alone given this job.”Officials with the Pentagon, the State Department and the school refused to comment. Garcia Covarrubias is now back in Chile, ordered by an investigative judge in January 2014 to remain in the country while an inquiry continues into his alleged role in the deaths of seven people in Temuco weeks after the U.S.-backed Pinochet coup on Sept. 11, 1973. His case is one of 108 involving tortured, disappeared or murdered supporters of the deposed elected president, Salvador Allende. More than 3,000 people died at the hands of the regime, and in 2003, then-Secretary of State Colin Powell offered regrets for U.S. involvement in the coup, calling it “not a part of American history that we're proud of.”
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  • The center’s officials who hired and renewed Garcia Covarrubias’ contracts say he was a highly qualified professor and minimize the allegations against him. “We made inquiries with people in the region, in Chile and so forth, and were never given anything negative about Jaime,” said Margaret Daly Hayes, the center’s first director. “He was vetted by the U.S. government, by the (U.S.) Embassy. They obviously didn’t have anything either or he wouldn’t have been hired.”McClatchy, however, located one of his alleged victims, who described being brutalized by him. “They submitted us to torture, twice a day. We were submerged in feces,” Herman Carrasco, who’s now a real estate agent, told McClatchy in Chile. “They stuck rifle barrels in our anuses.”According to Carrasco, the torture unfolded in October and November 1973 – lorded over by the horsewhip-wielding Garcia Covarrubias – and included electric shock administered to eyelids, genitals and other sensitive areas of the body.“He was the person who tortured us, with his face shown,” said Carrasco, who added that he’d known Garcia Covarrubias from social events before the coup. “He forced us into sexual acts, which shows that besides ferocious cruelty there was a level of psychopathic behavior.”
  • Despite very graphic torture accusations against Garcia Covarrubias, U.S. officials are rallying behind him.
  • As the center supported Garcia Covarrubias, it pushed out Andersen in retaliation, the former communications chief said.Last September, Andersen filed a complaint with the Pentagon’s inspector general, with the support of then-Sen. Carl Levin. D-Mich. An inspector general spokeswoman declined to comment. “It’s shameful that at a time the U.S. prestige as a democracy is under attack, that the National Defense University could be playing footsie with a former state terrorism agent,” Andersen said. The details uncovered about Garcia Covarrubias have prompted demands from several members of Congress for a Pentagon accounting of how he was hired and retained his job.“The American people deserve to know that adequate vetting of such individuals would be routine,” said Sen. Patrick Leahy, D-Vt., author of the “ Leahy Law,” which restricts U.S. assistance to foreign security forces that violate human rights.
  • While most of the concerns focused on Garcia Covarrubias, the center also took heat in 2006 for hiring Colombian Gen. Carlos Ospina Ovalle. As army commander, he turned the tables in a decades-old guerrilla war while simultaneously crushing drug cartels. Ospina Ovalle left the center last year and took a post at another National Defense University school.He was hired at the request of the Colombian government and was popular with U.S. military leaders, recalls Downie, the center’s director at the time. “The Colombians wanted, for his own safety, to get him out of Colombia,” said Downie. “This is a guy we certainly wanted to have as a professor.”Human rights groups, however, criticized the general’s hiring and continued employment at the National Defense University. They point to his earlier command in Antioquia province, where right-wing paramilitaries ran roughshod and were linked to the military.“Antioquia in the late 1990s . . . is less than one degree of separation from working with the paramilitaries,” said Adam Isacson, a senior associate specializing in military matters for the Washington Office on Latin America. “If he has not, it’s some miracle that he managed to be the one clean officer.”“Having officers like that, the implicit message is that human rights takes a backseat,” said Isacson.
Paul Merrell

Rents Are Rising But People Aren't Making Any More Money - 0 views

  • The average apartment rent hit $1,099 in the second quarter of the year, new data from a real estate research firm shows, as the gap between the typical American’s cost of living and the wages she earns from working continued to widen.
  • Average rents rose by 0.8 percent from March to June, and are now up 3.4 percent over the past year, according to Reis Inc. data. In total, the average monthly rent price is now up almost 15 percent since 1990, after adjusting for inflation. By comparison, the median household income has grown exactly zero percent since 1990, the Wall Street Journal notes:
  • Even those gloomy national figures paint a rosier picture than the reality that tens of millions of American families face. If you do the math using the top-line numbers, rents still seem affordable: the average calculates out to about 26 percent of a person’s yearly income going toward rent. But that’s not how it actually operates on the ground. A full 50 percent of American renters spend more than 30 percent of their income on housing, which is what researchers define as the cutoff for affordable housing. More than a quarter face extremely unaffordable housing costs, meaning they spend more than half their income on housing. A New York Times and Zillow analysis found that median rent was above the 30 percent affordability threshold in 90 different U.S. cities, even before this most recent quarterly rise in rent prices. Rents are outpacing earnings in part because the demand for rental housing has exploded since the financial crisis. Foreclosed homeowners and others unable to afford or obtain a mortgage are turning instead to the rental market. Cuts to government housing aid spending and the broader stagnation of wages for working people increase the reliance on rental even more.
Paul Merrell

THE 9/11 READER. The September 11, 2001 Terror Attacks | Global Research - 0 views

  • GLOBAL RESEARCH ONLINE INTERACTIVE READER SERIES GR I-BOOK No.  7  THE 9/11 READER The September 11, 2001 Terror Attacks 9/11 Truth: Revealing the Lies,  Commemorating the 9/11 Tragedy
  • August 2012 The 911/ Reader is part of Global Research’s Online Interactive I-Book Reader, which brings together, in the form of chapters, a collection of Global Research feature articles, including debate and analysis, on a broad theme or subject matter.  To consult our Online Interactive I-Book Reader Series, click here.
  • Table of Contents of the 9/11 Reader In Part I, the 911 Reader provides a review of what happened on the morning of 9/11, at the White House, on Capitol Hill, the Pentagon, at Strategic Command Headquarters (USSTRATCOM), What was the response of the US Air Force in the immediate wake of the attacks?  Part II focusses on “What Happened on the Planes” as described in the 9/11 Commission Report. Part III sheds light on what caused the collapse of the World Trade Center buildings. It also challenges the official narrative with regard to the attack on the Pentagon. Part IV reviews and refutes the findings of the 9/11 Commission Report. Part V focusses on the issue of foreknowledge by Western intelligence agencies. Part VI examines the issue of how foreknowledge of the attacks was used as an instrument of insider trading on airline stocks in the days preceding September 11, 2001. The bonanza financial gains resulting from insurance claims to the leaseholders of the WTC buildings is also examined.
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  • Part VII focusses on the history and central role of Al Qaeda as a US intelligence asset. Since the Soviet-Afghan war, US intelligence has supported the formation of various jihadist organizations. An understanding of this history is crucial in refuting the official 9/11 narrative which claims that Al Qaeda, was behind the attacks. Part VIII centers on the life and death of 9/11 “Terror Mastermind” Osama bin Laden, who was recruited by the CIA in the heyday of the Soviet Afghan war. This section also includes an analysis of the mysterious death of Osama bin Laden, allegedly executed by US Navy Seals in a suburb of Islamabad in May 2011. Part  IX  focusses on “False Flags” and the Pentagon’s “Second 9/11″. Part X examines the issue of “Deep Events” with contributions by renowned scholars Peter Dale Scott and Daniele Ganser. Part XI  examines the structure of 9/11 propaganda which consists in “creating” as well “perpetuating” a  “9/11 Legend”. How is this achieved? Incessantly, on a daily basis, Al Qaeda, the alleged 9/11 Mastermind is referred to by the Western media, government officials, members of the US Congress, Wall Street analysts, etc. as an underlying cause of numerous World events. Part XII focusses on the practice of 9/11 Justice directed against the alleged culprits of the 9/11 attacks. The legitimacy of 9/11 propaganda requires fabricating “convincing evidence” and “proof” that those who are accused actually carried out the attacks. Sentencing of Muslims detained in Guantanamo is part of war propaganda. It depicts innocent men who are accused of the 9/11 attacks, based on confessions acquired through systematic torture throughout their detention. Part  XIII focusses on 9/11 Truth.  The objective of 9/11 Truth is to ultimately dismantle the propaganda apparatus which is manipulating the human mindset. The 9/11 Reader concludes with a retrospective view of 9/11 ten years later.
  • PART  I Timeline: What Happened on the Morning of September 11, 2001 Nothing Urgent: The Curious Lack of Military Action on the Morning of September. 11, 2001 - by George Szamuely – 2012-08-12 Political Deception: The Missing Link behind 9-11 - by Michel Chossudovsky – 2002-06-20 On the morning of September 11, Pakistan’s Chief Spy General Mahmoud Ahmad, the alleged “money-man” behind the 9-11 hijackers, was at a breakfast meeting on Capitol Hill hosted by Senator Bob Graham and Rep. Porter Goss, the chairmen of the Senate and House Intelligence committees. 9/11 Contradictions: Bush in the Classroom - by Dr. David Ray Griffin – 2008-04-04 9/11 Contradictions: When Did Cheney Enter the Underground Bunker? - by David Ray Griffin – 2008-04-24 VIDEO: Pilots For 9/11 Truth: Intercepted Don’t miss this important documentary, now on GRTV - 2012-05-16
  • PART II What Happened on the Planes “United 93″: What Happened on the Planes? - by Michel Chossudovsky – 2006-05-01   Phone Calls from the 9/11 Airliners Response to Questions Evoked by My Fifth Estate Interview - by Prof David Ray Griffin – 2010-01-12 Given the cell phone technology available in 2001, cell phone calls from airliners at altitudes of more than a few thousand feet, were virtually impossible Ted Olson’s Report of Phone Calls from Barbara Olson on 9/11: Three Official Denials - by David Ray Griffin – 2008-04-01 Ted Olson’s report was very important. It provided apparent “evidence” that American 77 had struck the Pentagon.
  • PART III What Caused the Collapse of The WTC Buildings and the Pentagon? The Destruction of the World Trade Center: Why the Official Account Cannot Be True - by Dr. David Ray Griffin – 2006-01-29 The official theory about the Twin Towers says that they collapsed because of the combined effect of the impact of the airplanes and the resulting fires Evidence Refutes the Official 9/11 Investigation: The Scientific Forensic Facts - by Richard Gage, Gregg Roberts – 2010-10-13 VIDEO: Controlled Demolitions Caused the Collapse of the World Trade Center (WTC) buildings on September 11, 2001 - by Richard Gage – 2009-09-20 VIDEO: 9/11: The Myth and The Reality Now on GRTV - by Prof. David Ray Griffin – 2011-08-30 Undisputed Facts Point to the Controlled Demolition of WTC 7 - by Richard Gage – 2008-03-28 VIDEO: 9/11 Explosive Evidence: Experts Speak Out See the trailer for this ground-breaking film on GRTV - 2011-08-03 9/11: “Honest Mistake” or BBC Foreknowledge of Collapse of WTC 7? Jane Standley Breaks Her Silence - by James Higham – 2011-08-18 The Collapse of WTC Building Seven. Interview. Comment by Elizabeth Woodworth - by David Ray Griffin – 2009-10-17   Building What? How SCADs Can Be Hidden in Plain Sight: The 9/11 “Official Story” and the Collapse of WTC Building Seven - by Prof David Ray Griffin – 2010-05-30 Besides omitting and otherwise falsifying evidence, NIST also committed the type of scientific fraud called fabrication, which means simply “making up results.” VIDEO; Firefighters’ Analysis of the 9/11 Attacks Refutes the Official Report - by Erik Lawyer – 2012-08-27 VIDEO: Pentagon Admits More 9/11 Remains Dumped in Landfill - by James Corbett – 2012-03-01 The Pentagon revealed that some of the unidentifiable remains from victims at the Pentagon and Shanksville sites on September 11, 2001 were disposed of in a landfill. 9/11: The Attack on the Pentagon on September 11, 2001 The Official Version Amounts to an Enormous Lie - by Thierry Meyssan – 2012-08-16
  • PART IV Lies and Fabrications: The 9/11 Commission Report A National Disgrace: A Review of the 9/11 Commission Report - by David Ray Griffin – 2005-03-24 The 9/11 Commission Report: A 571 Page Lie - by Dr. David Ray Griffin – 2005-09-08 September 11, 2001: 21 Reasons to Question the Official Story about 9/11 - by David Ray Griffin – 2008-09-11 911 “Conspiracy Theorists” Vindicated: Pentagon deliberately misled Public Opinion Military officials made false statements to Congress and to the 911 Commission - by Michel Chossudovsky – 2006-08-02 The 9/11 Commission’s Incredible Tales Flights 11, 175, 77, and 93 - by Prof. David Ray Griffin – 2005-12-13 9/11 and the War on Terror: Polls Show What People Think 10 Years Later - by Washington’s Blog – 2011-09-10
  • PART  V Foreknowledge of 9/11   VIDEO: The SECRET SERVICE ON 9/11: What did the Government Know? Learn more on this week’s GRTV Feature Interview - by Kevin Ryan, James Corbett – 2012-04-10 9/11 Foreknowledge and “Intelligence Failures”: “Revealing the Lies” on 9/11 Perpetuates the “Big Lie” - by Prof. Michel Chossudovsky – 2011-09-14 “Foreknowledge” and “Failure to act” upholds the notion that the terrorist attacks (“act of war”) “waged by Muslims against America” are real, when all the facts and findings point towards coverup and complicity at the highest levels of the US government. Foreknowledge of 9/11 by Western Intelligence Agencies - by Michael C. Ruppert – 2012-08-21
  • PART XII Post 9/11 “Justice” IRAN ACCUSED OF BEING BEHIND 9/11 ATTACKS. U.S. Court Judgment, December 2011 (Havlish v. Iran) - by Julie Lévesque – 2012-05-11 U.S. Court Judgment, December 2011 (Havlish v. Iran) “American Justice”: The Targeted Assassination of Osama Bin Laden Extrajudicial executions are unlawful - by Prof. Marjorie Cohn – 2011-05-10 ALLEGED “MASTERMIND” OF 9/11 ON TRIAL IN GUANTANAMO: Military Tribunals proceed Despite Evidence of Torture - by Tom Carter – 2012-05-30 U.S. Military Drugged Detainees to Obtain FALSE Confessions Self-confessed 9/11 “mastermind” falsely confessed to crimes he didn’t commit - by Washington’s Blog – 2012-07-15 911 MILITARY TRIAL: Pentagon Clears Way for Military Trial of Five charged in 9/11 Attacks - by Bill Van Auken – 2012-04-06 Khalid Sheikh Mohammed’s trial will convict us all - by Paul Craig Roberts – 2009-11-25
  • PART VII 9/11 and the “Global War on Terrorism” (GWOT) Political Deception: The Missing Link behind 9-11 - by Michel Chossudovsky – 2002-06-20 On the morning of September 11, Pakistan’s Chief Spy General Mahmoud Ahmad, the alleged “money-man” behind the 9-11 hijackers, was at a breakfast meeting on Capitol Hill hosted by Senator Bob Graham and Rep. Porter Goss, the chairmen of the Senate and House Intelligence committees. 9/11 ANALYSIS: From Ronald Reagan and the Soviet-Afghan War to George W Bush and September 11, 2001 - by Michel Chossudovsky – 2010-09-09 Osama bin Laden was recruited by the CIA in 1979. The US spent millions of dollars to supply Afghan schoolchildren with textbooks filled with violent images and militant Islamic teachings.     The Central Role of Al Qaeda in Bush’s National Security Doctrine “Revealing the Lies” on 9/11 Perpetuates the “Big Lie” - by Michel Chossudovsky – 2007-07-12 September 11, 2001: America and NATO Declare War on Afghanistan NATO’s Doctrine of Collective Security - by Michel Chossudovsky – 2009-12-21   America’s Holy Crusade against the Muslim World. - by Michel Chossudovsky – 2010-08-30 What is now unfolding is a generalized process of demonization of an entire population group
  • Osamagate - by Michel Chossudovsky – 2001-10-09 The main justification for waging this war has been totally fabricated. The American people have been deliberately and consciously misled by their government into supporting a major military adventure which affects our collective future. The “Demonization” of Muslims and the Battle for Oil - by Michel Chossudovsky – 2007-01-04 Muslim countries possess three quarters of the World’s oil reserves. In contrast, the United States of America has barely 2 percent of total oil reserves.   Was America Attacked by Muslims on 9/11? - by David Ray Griffin – 2008-09-10 Much of US foreign policy since 9/11 has been based on the assumption that America was attacked by Muslims on 9/11.   New Documents Detail America’s Strategic Response to 9/11 Rumsfeld’s War Aim: “Significantly Change the World’s Political Map” - by National Security Archive – 2011-09-12
  • PART VIII The Alleged 9/11 Mastermind: The Life and Death of  Osama bin Laden Who Is Osama Bin Laden? - by Michel Chossudovsky – 2001-09-12   VIDEO: The Last Word on Osama Bin Laden - by James Corbett – 2011-05-24 Osama bin Laden: A Creation of the CIA - by Michel Chossudovsky – 2011-05-03 Interview with Osama bin Laden. Denies his Involvement in 9/11 Full text of Pakistani paper’s Sept 01 “exclusive” interview - 2011-05-09 Where was Osama on September 11, 2001? - by Michel Chossudovsky – 2008-09-11 On September 10. 2001, Osama was in a Pakistan military hospital in Rawalpindi, courtesy of America’s indefectible ally Pakistan Osama bin Laden, among the FBI’s “Ten Most Wanted Fugitives”: Why was he never indicted for his alleged role in 9/11? - by Michel Chossudovsky – 2006-09-17 Osama bin Laden: Already Dead… Evidence that Bin Laden has been Dead for Several Years - by Prof. David Ray Griffin – 2011-05-02 The Mysterious Death of Osama bin Laden: Creating Evidence Where There Is None - by Dr. Paul Craig Roberts – 2011-08-04 The Assassination of Osama bin Laden: Glaring Anomalies in the Official Narrative Osama was Left Handed… - by Felicity Arbuthnot – 2011-05-11 The Assassination of Osama Bin Laden - by Fidel Castro Ruz – 2011-05-07 Dancing on the Grave of 9/11. Osama and “The Big Lie” - by Larry Chin – 2011-05-05
  • PART  IX  ”False Flags”: The Pentagon’s Second 9/11 The Pentagon’s “Second 911″ “Another [9/11] attack could create both a justification and an opportunity to retaliate against some known targets” - by Michel Chossudovsky – 2006-08-10 The presumption of this military document, is that a Second 911 attack “which is lacking today” would usefully create both a “justification and an opportunity” to wage war on “some known targets Crying Wolf: Terror Alerts based on Fabricated Intelligence - by Michel Chossudovsky – 2006-08-20 This is not the first time that brash and unsubstantiated statements have been made regarding an impending terror attack, which have proven to be based on “faulty intelligence”.
  • PART X “Deep Events” and State Violence The Doomsday Project and Deep Events: JFK, Watergate, Iran-Contra, and 9/11 - by Prof. Peter Dale Scott – 2011-11-22 The Doomsday Project is the Pentagon’s name for the emergency planning “to keep the White House and Pentagon running during and after a nuclear war or some other major crisis.” JFK and 9/11 Insights Gained from Studying Both - by Dr. Peter Dale Scott – 2006-12-20 In both 9/11 and the JFK assassination, the US government and the media immediately established a guilty party. Eventually, in both cases a commission was set up to validate the official narrative. Able Danger adds twist to 9/11 9/11 Ringleader connected to secret Pentagon operation - by Dr. Daniele Ganser – 2005-08-27 Atta was connected to a secret operation of the Pentagon’s Special Operations Command (SOCOM) in the US. A top secret Pentagon project code-named Able Danger identified Atta and 3 other 9/11 hijackers as members of an al-Qaida cell more than a year before the attacks. 9/11, Deep State Violence and the Hope of Internet Politics - by Prof. Peter Dale Scott – 2008-06-11 The unthinkable – that elements inside the state would conspire with criminals to kill innocent civilians – has become thinkable… Al Qaeda: The Database. - by Pierre-Henri Bunel – 2011-05-12
  • PART XI Propaganda: Creating and Perpetuating the 9/11 Legend September 11, 2001: The Propaganda Preparation for 9/11: Creating the Osama bin Laden “Legend” - by Chaim Kupferberg – 2011-09-11 THE 9/11 MYTH: State Propaganda, Historical Revisionism, and the Perpetuation of the 9/11 Myth - by Prof. James F. Tracy – 2012-05-06   Al Qaeda and Human Consciousness: Al Qaeda, Al Qaeda…. An Incessant and Repetitive Public Discourse - by Prof. Michel Chossudovsky – 2012-03-24 9/11 Truth, Inner Consciousness and the “Public Mind” - by James F. Tracy – 2012-03-18
  • PART VI Insider Trading and the 9/11 Financial Bonanza 9/11 Attacks: Criminal Foreknowledge and Insider Trading lead directly to the CIA’s Highest Ranks CIA Executive Director “Buzzy” Krongard managed Firm that handled “Put” Options on UAL - by Michael C. Ruppert – 2012-08-13 The 9/11 Attacks on the World Trade Center (WTC): Unspoken Financial Bonanza - by Prof Michel Chossudovsky – 2012-04-27 SEPTEMBER 11, 2001: Insider Trading 9/11 … the Facts Laid Bare - by Lars Schall – 2012-03-20 Osama Bin Laden and The 911 Illusion: The 9/11 Short-Selling Financial Scam - by Dean Henderson – 2011-05-09
  • PART XIII 9/11 Truth Revealing the Lies,  Commemorating the 9/11 Tragedy VIDEO: Commemorating the 10th Anniversary of 9/11 - by Prof. Michel Chossudovsky – 2011-09-01 VIDEO: AFTER 9/11: TEN YEARS OF WAR Special GRTV Feature Production - by James Corbett – 2011-09-08
  •  
    Wow!
Paul Merrell

The Next Financial Tsunami Just Began in Texas | New Eastern Outlook - 0 views

  • The last financial Tsunami was a doozer that almost destroyed the global financial system. It was the collapse of the Wall Street Mortgage Backed Securities bubble in March 2007. The results of that collapse are still very much with the world today. Never in the one hundred some years of the Federal Reserve Bank has the Fed held interest rates at an artificial near-zero level for what is soon to mark eight years duration. Not even during the 1930’s Great Depression were rates kept so low so long. It is not a sign of a healthy banking system, friends. Now a new Financial Tsunami is beginning, this one, of all places, in the Texas, North Dakota and other USA shale oil regions. Like the so-called US sub-prime real estate crisis, the oil shale junk bond default crisis is but the cutting front of the first wave of what promises to be a far more dangerous series of financial Tsunami long waves.First appeared: http://journal-neo.org/2015/04/17/the-next-financial-tsunami-just-began-in-texas/
  •  
    A must-read.
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