US and world political and economic leaders are faced with what they describe as a ‘systemic catastrophe’: the inability to pay global creditors, including domestic and foreign banks, investors and governments, who hold $16.7 trillion in US Treasury notes. There is a related crisis: the government cannot secure passage of a budget to finance its military and civilian agencies and activities, including large-scale payments to military contractors, the financing of business, agriculture and banking operations and social programs.
The raising of the debt-ceiling is central to the functioning of the financial ruling class as it extracts hundreds of billions of tax dollars in interest payments from the US Treasury. Raising the debt ceiling allows the State to keep borrowing and pay its billionaire creditors. In turn, as long as the US Treasury has liquidity, it remains a ‘safe haven’ for investors thus providing guaranteed profits. In addition, as long as the dollar remains the principle currency for global transactions, it allows the US Treasury to print money at will and to borrow at a lower cost – at the expense of its competitors and adversaries.
Financing the budget deficit requires borrowing, which involves the sale hundreds of billions of dollars worth of US government bonds through Wall Street – but at a cost to the taxpayer. The common denominator is that the entire edifice of finance capital and all of its support structures depend on debt financing by the State. By borrowing and then taxing its citizens the Treasury extracts wealth from the vast majority of Americans.
To understand the fight to raise the debt ceiling and to pass a deficit budget it is necessary to analyze the long-term, large-scale sources of State debt.
Imperial Wars, the Ascendancy of Finance Capital and the Debt Crisis
The ever-increasing debt and the constant raising of the debt ceiling is a result of long-term, large-scale military spending to build the US Empire. The imperial enterprise has generated a huge deficit: the cost/benefit ratio has been overwhelmingly negative. Contrary to militarist propaganda, the empire has not been ‘self-financing’: Wars and occupation in Iraq, Afghanistan and elsewhere have cost the US taxpayers trillions of dollars, not off-set by incoming imperial plunder or domestic economic expansion.
Parallel to the cost of wars and occupations, the rise of finance capital has largely resulted from the pillage of the US Treasury. Huge bailouts, low interest loans, large-scale interest payments on bonds, subsidies and tax exemptions have created a financial ruling class based on maintaining a debt-laden, interest-paying State, which meets its obligations to the creditors while it privatizes (and eliminates) social programs. The result is a ‘poor indebted State’ and a rich and prosperous Wall Street. Wall Street stands to gain trillions with the privatization of the multi-billion dollar health (Medicare) and retirement plans (Social Security): this will form an integral component of the “Grand Bargain” to raise the debt ceiling.
Who are the Beneficiaries of Raising the Debt Ceiling?
The principle and immediate beneficiaries of increasing the debt ceiling are the wealthy, bond-holders and the medium and long-term beneficiaries are the military-intelligence-empire-builders who can continue to secure over $700 billion in annual budget allocations. The principle strategic losers from raising the debt ceiling will be the hundreds of millions of beneficiaries of social programs like Social Security, Medicare and Medicaid and their family members. As part of the ‘Grand Bargain’ struck by the Democratic President and Republican Congress between $1.3 trillion and $1.4 trillion in social cuts will take effect over the next ten years, according to the Congressional Budget Office. The cuts in Social Security will occur by raising the age of eligibility for full benefits to 70 years, resulting in a loss of $120 billion, as many older retired workers would be expected to die before drawing a single payment while millions of Americans will be forced to delay retirement and work an extra five years.
Secondly, the earliest age of eligibility for partial benefits will increase from 62 to 64 years resulting in an additional loss of $144 billion dollars from workers.
Thirdly, the cost of living index would be reduced – a ten- year loss of $112 billion dollars.
Fourthly, the calculation for initial benefits would discard the wage-based method for a so-called “price-index”, resulting in American workers losing another $137 billion dollars over 10 years. In sum, workers’ social security benefits would be reduced by more than half a trillion dollars an enormous transfer of wealth to the billionaire creditors, investors and empire builders all in the name of ‘debt reduction’.
The cuts in MEDICARE and MEDICAID would result in an even more retrograde class polarization. The ‘Grand Bargain’ could lead to additional losses of over $419 billion dollars.
The biggest cost to the workers will come in the form of an increase in their monthly premium for physician services (MEDICARE Part B) from the current 25% to 35%, resulting in a loss of $241 billion dollars. The second biggest loss to workers will result from raising the age of eligibility for MEDICARE from 65 to 67 years costing workers an additional S125 billion dollars. The third loss for workers will be a $53 billion hit from restricting the use of MEDIGAP insurance – supplementary policies that cover MEDICARE cost sharing requirements.
Further cuts of $187 billion in MEDICAID– the medical plan for the poor and disabled– would result when the federal government shifts its direct funding to block grants to the states that would severely cut services for the poor – a plan first proposed during the Clinton Administration with regard to welfare funding.
Once these reactionary cuts in basic social programs are in place, the beneficiaries, who are able, will be forced to buy alternative supplementary private medical insurance and private retirement plans, while the poor will go without. The running down of public social services by Wall Street has been a deliberate, cynical strategy to cause popular discontent paving the way for the gradual privatization of services: adding costs, eliminating options and limiting medical treatment, surgery and procedures, especially for the elderly. The privatization of Social Security, MEDICARE and MEDICAID, will maximize insecurity while minimizing services and lead to untreated and under-treated illness, greater suffering and economic distress. Bi-partisan Congressional White House agreements via the “Great Bargain” to raise the debt ceiling will widen and deepen inequalities in the United States.
In sum, “the Grand Bargain” will cause American workers to lose over $1.119 trillion dollars over the next 10 years, leading to a sharp decline in life expectancy, access to health care, living standards and quality of life.
The Samson Solution
Given the harsh terms, which accompany the “Grand Bargain” to raise the debt ceiling, it would be better if no agreement were reached. The financial elite is counting on the ‘Grand Bargain’ to leverage their debt collection over the lives and welfare of hundreds of millions of Americans. It would be better to shake the pillars and pull down this Temple of Mammon (the ‘Samson Solution’) making them pay a price!
The ‘shock and awe’ induced by default would shake the very foundations of the financial pillage of the US Treasury and the taxpayers; default would seriously undermine the financial basis for imperial wars, spying, torture and death squads. The entire empire building project would crumble.
True, in the short-run, the workers and middle class would also suffer from a default. But the discredit of the ruling political parties, the political elite and Wall Street, could lead to a new political alignment, which would fund social programs by, in David Stockman’s phrase, “soaking the rich” raising corporate taxes by 50%, imposing a financial transaction tax of 5%, uncapping the social security tax and collecting taxes on overseas US multi-nationals’ profits. Additional billions would be saved by ending imperial wars, closing bases and canceling military contracts. Tax reform, imperial dismantlement and increased domestic investment in productive activity would generate domestic growth leading to a budget surplus, extending MEDICARE to all Americans, reducing the age of retirement to 62 and providing a living wage for all workers!
Source: James Petras
Cars on the Obamacare Express jumped the track and began piling up as soon as the Healthcare.gov website went live on Oct. 1, and the expected Obamacare train wreck continues to create its carnage.
Of course, the carnage is just beginning. Obamacare is a socialist death trap of graft and corruption. It was created by lobbyists for the medical industrial complex as a way of growing its consumer base with the guarantee of benefit payments from the Federal Treasury. It’s a redistributive system that steals from the producers in order to feed the corporatocracy.
Nothing about Obamacare is healthcare. It is simply medical tyranny created under the guise of political doublespeak. It sounds great to promise free or low-cost health insurance for everyone until people begin to learn the true cost of “free” government programs.
America’s healthcare system is a profit-driven, disease-oriented death system. It is a system of conflict of interest, tainted research, greed for money, deceived and pretentious doctors and scientists, lying, cheating, invasion by the morally bankrupt marketing automatons of the drug industry, greedy power-hungry politicians, and Federal and State regulators. It is all about money generated on the sick and the dying.
I will quickly give you a valid exception, and that is if one needs trauma care. It is generally and quickly available and most of the time life-saving. But this is a very small part of medical practice in America.
The sick care industry is not only profiting from the sick and dying; it is the greatest cause of sickness and premature death. And it is a U.S. government industry. It is sponsored and financed by the U.S. government. There would not be a single hospital in the United States without Federal funny money and the insurance business.
In fact, it’s very deceptive to call Obamacare socialized healthcare as Obamacare has nothing to do with healthcare. It’s just the opposite. It’s sickness care.
The Nazis had their gas chambers and America has “medical care,” which is the most sophisticated killing machine that demented minds can create.
Americans are mentally dependent on the “medical” brainwash. When our dumbed-down people hear the trigger word “medical care,” they go blind and hyperventilate. They do not know a scam from a sham.
The great debate going on is spurious in its entirety. There is no truth to be found in it. It’s a comedy. As the paper money regime collapses, the money creators are speeding up the printing presses in a desperate ploy to transfer the wealth of the American people before it becomes worthless anyway. It is disguised warfare against the American people.
It reminds one of the last days of the Nazi regime. As the cities were reduced to rubble, German citizens were being shot for “treason.” In the last days of any regime, the process of oppression of citizens is intensified.
In the United States, stepped-up oppression is being done under the cloak of benevolency called healthcare.
In fact, there is now very high risk in going to the hospital. Besides the hundreds of thousands of drug-induced deaths (iatrogenic deaths), there are people who check into hospitals and unexpectedly die of viral pneumonia that antibiotics can’t help. Tuberculosis has returned to America, including drug-resistant strains. Drug-resistant bacteria are rampant. One in 20 hospital patients now picks up an infection he didn’t have when he arrived. Even what appears to be the old common cold is lasting for months.
“There are about 2 million people who acquire infection from the hospital each year and become sick,” said Charlottesville, Va., infectious disease expert Barry Farr, M.D. “Most don’t die, but some do.” About 100,000 die each year, according to the Centers for Disease Control and Prevention.
Obamacare locks you into this system with no way out. Once the government is in the business of determining approved treatments and payments, alternative treatment regimens are prohibited. And failure to follow the prescribed treatment will result in fines or imprisonment. (This sort of medical tyranny has already manifested itself in the treatment of children’s ailments; see here and here for just two such examples.)
And it seems the Obamacare system permanently captures you as well. Those few who have managed to access the deeply flawed system have learned that deleting an account and the personal information entered is impossible.
And what is that information? Everything the government needs to know to confiscate your wealth from you completely in the event of noncompliance.
Everyone is forced to sign up for a system that is unavailable to them because of the failure of the Healthcare.gov website — which some computer experts believe was either designed to fail or built by a team of incompetent chimpanzees.
About 90 percent of those who tried to enroll say they were not able to get signed up. And of those, about 50,000 people who were able to get through in the system’s first 11 days, only about 1 percent have submitted enough information to be successfully enrolled, according to health industry executives.
Nationwide, there are 11.6 million people ages 18 to 34 who are uninsured, according to the Department of Health and Human Services. Obamacare is a Ponzi scheme designed to sit on the backs of the young and healthy. But they aren’t interested in it once they learn their premium costs will run in the hundreds of dollars per month, deductibles are $5,000 or more per year and the copays are outrageously high.
The lack of support from young people is ominous. “The entire Rube Goldberg apparatus depends on young, healthy people signing up to cross-subsidize more expensive patients and prevent health plans from going into a death spiral in which premiums don’t cover claims,” said The Wall Street Journal. “Good luck getting millennials to sign up when plans aren’t merely more expensive but when the exchanges malfunction, or doctors don’t accept exchange coverage because someone checked the wrong box, or any number of myriad administrative problems.”
Yet despite all this and despite the fact that a vast majority of Americans want no part of it (hence, the mandate requiring everyone to sign up under penalty of fines and forfeiture of as-yet undetermined amounts of personal property), every effort to repeal or defund Obamacare has been backed by only a handful of non-statists and opposed by the regime and the statists who are more interested in control, power, pleasing the medical cartel and sapping Americans of their wealth and health than in doing what’s right for Americans and following the Constitution.
Source: Bob Livingston | Personal Liberty Digest
President Barack Obama is determined to prevail in his battle with GOP congressional leaders on the debt ceiling issue, but not for the reasons stated in the media. Obama is less concerned with the prospect of higher interest rates and frustrated bondholders than he is with the big Wall Street banks who would be thrust back into crisis if there is no resolution before October 17. Absent a debt ceiling deal, the repurchase market–known as repo–would undergo another deep-freeze as it did in 2008 when Lehman Brothers defaulted triggering a run on the Reserve Primary Fund which had been exposed to Lehman’s short-term debt. The frenzied selloff sparked a widespread panic across global financial markets pushing the system to the brink of collapse and forcing the Federal Reserve to backstop regulated and unregulated financial institutions with more than $11 trillion in loans and other obligations. The same tragedy will play out again, if congress fails lift the ceiling and reinforce the present value of US debt.
Repo is at the heart of the shadow banking system, that opaque off-balance sheet underworld where maturity transformation and other risky banking activities take place beyond the watchful eye of government regulators. It is where banks exchange collateralized securities for short-term loans from investors, mainly large financial institutions. The banks use these loans to fund their other investments boosting their leverage many times over to maximize their profits. The so called congressional reforms, like Dodd Frank, which were ratified after the crisis, have done nothing to change the basic structure of the market or to reign in excessive risk-taking by undercapitalized speculators. The system is as wobbly and crisis-prone ever, as the debt ceiling fiasco suggests. The situation speaks to the impressive power of the bank cartel and their army of lawyers and lobbyists. They own Capital Hill, the White House, and most of the judges in the country. The system remains the same, because that’s the way the like it.
US Treasuries provide the bulk of collateral the banks use in acquiring their short-term funding. If the US defaults on its debt, the value that collateral would fall precipitously leaving much of the banking system either underwater or dangerously undercapitalized. The wholesale funding market would grind to a halt, and interbank lending would slow to a crawl. The financial system would suffer its second major heart attack in less than a decade. This is from American Banker:
As banking policy analyst Karen Shaw Petrou describes it, Treasury obligations are the “water” in the financial system’s plumbing.
“They’re the global reserve currency and they are perceived to be the most secure thing you can own,” said Petrou, managing partner of Federal Financial Analytics. “That is why it is pledged as collateral. … The very biggest banks fear that a debt ceiling breach breaks the pipes.”….
Rob Toomey, managing director and associate general counsel at the Securities Industry and Financial Markets Association, said institutions are concerned about whether Treasury bonds that default are no longer transferable between market participants.
“Essentially, whatever the size is of the obligation that Treasury is unable to pay, that kind of liquidity would just disappear from the market for whatever time the payment is not made,” Toomey said.”
By some estimates, the amount of liquidity that would be drained from the system immediately following a default would be roughly $600 billion, enough to require emergency action by either the Fed or the US Treasury. Despite post-crisis legislation that forbids future bailouts, the government would surely ride to rescue committing taxpayer revenues once again to save Wall Street.
Keep in mind, the US government does not have to default on its debt to trigger a panic in the credit markets. Changing expectations can easily produce the same result. If the holders of US Treasuries (USTs) begin to doubt that the debt ceiling issue will be resolved, then they’ll sell their bonds prematurely to avoid greater losses. That, in turn, will push up interest rates which will strangle the recovery, slow growth, and throw a wrench in the repo market credit engine. We saw an example of how this works in late May when the Fed announced its decision to scale-back its asset purchase. The fact that the Fed continued to buy the same amount of USTs and mortgage-backed securities (MBS) didn’t stem the selloff. Long-term rates went up anyway. Why? Because expectations changed and the market reset prices. That same phenom could happen now, in fact, it is happening now. The Financial Times reported on Wednesday that “Fidelity Investments, the largest manager of money market funds… had sold all of its holdings of US Treasury bills due to mature towards the end of October as a “precautionary measure.”
This is what happens when people start to doubt that US Treasuries will be liquid cash equivalents in the future. They ditch them. And when they ditch them, rates go up and the economy slips into low gear. (Note: “China and Japan together hold more than $2.4 trillion in U.S. Treasuries” Bloomberg)
Now the media has been trying to soft-peddle the implications of the debt ceiling standoff by saying, “No one thinks that holders of USTs won’t get repaid.”
While this is true, it’s also irrelevant. The reason that USTs are the gold standard of financial assets, is because they are considered risk-free and liquid. That’s it. If you have to wait to get your money, then the asset you purchased is not completely liquid, right?
And if there is some doubt, however small, that you will not be repaid in full, then the asset is not really risk free, right?
This is what the Fidelity flap is all about. It’s about the erosion of confidence in US debt. It’s about that sliver of doubt that has entered the minds of investors and changed their behavior. This is a significant development because it means that people in positions of power are now questioning the stewardship of the present system. And that trend is going to intensify when the Fed begins to reduce its asset purchases later in the year, because winding down QE will precipitate more capital flight, more currency volatility and more emerging market runaway inflation. That’s going to lead to more chin scratching, more grousing and more resistance to US stewardship of the system. None of this bodes well for Washington’s imperial aspirations or for the world’s reserve currency, both of which appear to be living on borrowed time.
The media has done a poor job of explaining what’s really at stake. While, it’s true that higher interest rates would make consumer loans more expensive and put the kibosh on the housing recovery, that’s not what the media cares about. Not really. What they care about is the looming massacre in shadow banking where USTs are used as collateral to secure short-term loans by the banks so they can increase their leverage by many orders of magnitude. In other words, the banks are using USTs to borrow gobs of money from money markets and financial institutions so they can finance their other dodgy investments, derivatives contracts and ancillary casino-type operations. If there’s a default, the banks will have to come up with more capital for their scams that are leveraged at 40 or 50 to 1. This systemwide margin call would trigger a deflationary spiral that would domino through the entire system unless the Fed stepped in and, once again, provided a giant backstop in the form of blank check support. Here’s how Tim Fernholz sums it up over atDaily Finance:
“…Many informed people are worried” (about) “A freeze in the tri-party repo market, akin to the cascade of troubles that followed the Lehman Brothers bankruptcy in 2008.”….
In 2008, more than a third of that collateral was mortgage-backed securities. When Lehman went bankrupt, its lenders began a “fire sale” of the securities it used as collateral, which drove down the value of other mortgage-backed securities, which led to more fire sales. This dynamic would eventually lead to a freeze in the repo markets, which, at the time, provided $2.6 trillion in funding to the banks each day…..
Today, most of the collateral in use is U.S. Treasuries and “agency securities” — mortgage-backed securities guaranteed by the U.S. government:
… if the ugly day of a default comes, lenders may simply stop accepting U.S. debt as collateral. That will have the effect of sucking some $600 billion in liquidity out of the banking system. Unable to get funding for Treasurys, securities dealers would be pressured to sell them-or other assets-to find new funding, creating a fire sale dynamic…..
And, of course, this scenario is only about how the Treasurys work in the repo markets. U.S. debt is used as collateral for derivatives swaps and numerous other transactions; if they are suddenly worth less than expected, lenders can be expected to demand more collateral up front, putting even more pressure on the financial system. That’s why pressure is building to raise the ceiling before the world’s largest economy enters a scenario with so much uncertainty.”
Repeat: “That’s why pressure is building to raise the ceiling before the world’s largest economy enters a scenario with so much uncertainty”.
So the Obama team isn’t worried that Joe Homeowner won’t be able to refi his mortgage or that the economy might slip back into recession. They just don’t want to see Wall Street take it in the shorts again. That’s what this is all about, the banks. Because the banks are still up-to-their-eyeballs in red ink. Because they still don’t have enough capital to stay solvent if the wind shifts. Because all the Dodd Frank reforms are pure, unalloyed bullsh** that haven’t fixed a bloody thing. Because the risks of another panic are as great as ever because the system is the same teetering, unregulated cesspit it was before. Because the banks are still financing their sketchy Ponzi operations with OPM (other people’s money), only now, the Fed’s over-bloated balance sheet is being used to prop up this broken, crooked system instead of the trillions of dollars that was extracted from credulous investors on subprime mortgages, liars loans and other, equally-fraudulent debt instruments.
Can you see that?
This is why the media is pushing so hard to end the debt ceiling standoff; to preserve this mountainous stinkpile of larceny, greed and corruption run by a criminal bank Mafia and their political lackeys on Capital Hill. That’s what this is all about.
These Dates Forever Changed America For The Worse…
Well, Obamacare is now in effect. The decision by Congress to pass Obamacare into law back in 2010 ranks among the most draconian, most egregious, most horrific actions ever taken by the central government in Washington, D.C. This bill rocks the principles of liberty and constitutional government to the core. It changes fundamental foundations; it repudiates historic values. The same flag may fly on our flagpoles, the same monuments may grace our landscape, and the same National Anthem may be sung during our public ceremonies, but it is not the same America. For all intents and purposes, our nation now more resembles the socialist countries of the old communist East Bloc than it does the constitutional republic of the old land of the free.
I was honored to have been invited to be the keynote speaker at the annual meeting of the Association of American Physicians and Surgeons recently in Denver. It was a very large gathering of physicians from all over the country. And I can tell you that the doctors I spoke with are all very, very concerned about the future of healthcare in the United States. Take a peek at the condition of healthcare in socialist countries throughout the world or take a peek at the condition of healthcare in our VA clinics and hospitals, and you will get a little feel for what healthcare is going to quickly look like in America.
On March 21, 2010, Congress passed, and on March 23, 2010, President Barack Obama signed the dreaded national health care bill into law, and as such, these dates join a list of dates that have contributed to the destruction of a free America. Of course, there are several such dates, but, in my opinion, the following are the most draconian.
April 9, 1865
This is the date when General Robert E. Lee surrendered the Army of Northern Virginia to U.S. Grant at Appomattox Court House, Virginia. Regardless of where one comes down on the subject of the War Between the States, one fact is undeniable: Abraham Lincoln seriously dismantled the Jeffersonian model of federalism in America. Ever since, virtually every battle that free men have fought for the principles of limited government, State sovereignty, personal liberty, etc., has stemmed directly from Lincoln’s usurpation of power, which resulted in the subjugation and forced union of what used to be “Free and Independent States” (the Declaration of Independence). In fact, the philosophical battles being waged today regarding the current health care debacle (and every other encroachment upon liberty and State autonomy by the central government) have their roots in Lincoln’s autocracy.
July 9, 1868
This is the date when the 14th Amendment was ratified. This amendment codified into law what Lincoln had forced at bayonet point. Until then, people were only deemed citizens of their respective states. The Constitution nowhere referred to people as “US citizens.” It only recognized “the Citizens of each State.” Notice also that citizenship was only recognized among the “several States,” not among people living in non-State territories. Until the 14th Amendment, people were “Citizens of each State.” (Article. IV. Section. 2. Paragraph. 1.) The 14th Amendment created a whole new class of persons: “citizens of the United States.” This false notion of “one nation” overturned the Jeffersonian principle that our nation was a confederated republic, a voluntary union of states.
February 3, 1913
This is the date when the 16th Amendment was ratified, and the direct income tax and IRS were instituted. This was a flagrant repudiation of freedom principles. What began as a temporary measure to support the War of Northern Aggression became a permanent income revenue stream for an unconstitutional–and ever-growing–central government.
April 8, 1913
This is the date when the 17th Amendment was ratified. This amendment overturned the power of the State legislatures to elect their own senators and replaced it with a direct, popular vote. This was another serious blow against State sovereignty. The framers of the Constitution desired that the influence and power in Washington, D.C., be kept as close to the people and states as possible. For example, the number of representatives in the House of Representatives was to be decided by a limited number of voters. In the original Constitution, the ratio of “people of the several States” deciding their House member could not exceed “one for every thirty thousand.” (Article. I. Section. 2. Paragraph. 3.) And when it came to the US Senate, the framers also recognized the authority of each State legislature to select its own senators, thereby keeping power and influence from aggregating in Washington, D.C. The 17th Amendment seriously damaged the influence and power of the states by forcing them to elect their US senators by popular vote. The bigger the State, the less influence the State legislature has in determining its US senator. Senators who answered to State legislators, each answering to a limited number of voters, were much more accountable to the “citizens of the several States” than those who were elected by a large number (many times numbering into the millions) of people. For all intents and purposes (at least in the larger states), US Senators are more like “mini-Presidents” than representatives of sovereign states.
December 23, 1913
This is the date when the Federal Reserve Act was passed. This Act placed oversight of America’s financial matters into the hands of a cabal of private international bankers, who have completely destroyed the constitutional principles of sound money and (for the most part) free enterprise. No longer would the marketplace (private consumption, thrift, growth, etc.) be the determinant of the US economy (which is what freedom is all about), but now a private, unaccountable international banking cartel would have total power and authority to micromanage (for their own private, parochial purposes) America’s financial sector. Virtually every recession, depression, and downturn (including the one we are now experiencing) has been the direct result of the Fed’s manipulation of the market. 1913 was not a good year for the United States.
June 26, 1945
This is the date when the United Nations Charter was signed and America joined the push for global government. Ever since, US forces have spilled untold amounts of blood and sacrificed thousands of lives promoting the UN’s agenda. Since the end of World War II, in virtually every war in which US military forces have been engaged, it has been at the behest of the UN. And it is also no accident that America has not fought a constitutionally declared war since we entered the UN–and neither have we won one.
Furthermore, it is America’s involvement in the United Nations that has spearheaded this devilish push for a New World Order that George H. W. Bush, Henry Kissinger, Tony Blair, Walter Cronkite, et al., have talked so much about. The United Nations is an evil institution that has completely co-opted our US State Department and much of our Defense Department. It is an anti-American institution that works aggressively and constantly against the interests and principles of the United States. But it is an institution that is ensconced in the American political infrastructure. Like a cancer, the UN eats away at our liberties and values, and both major political parties in Washington, D.C., are culpable in allowing it to exert so much influence over our country.
June 25, 1962, and June 17, 1963
These are the dates when the US Supreme Court removed prayer (’62) and Bible reading (’63) from public schools. At this point, these two Supreme Court decisions were the most serious affront to the First Amendment in US history. Think of it: from before a union of states was established in 1787, children had been free to pray and read the Scriptures in school. We’re talking about a period of more than 300 years! Of course, the various State legislatures–and myriad city and county governmental meetings–still open their sessions in prayer, as do the US House and Senate, and even the US Supreme Court. But this same liberty is denied the children of America. There is no question that America has not recovered from these two horrific Supreme Court decisions. In effect, the federal government has expelled God not only from our public schools, but also from our public life. And America has not been the same since.
October 22, 1968
This is the date when President Lyndon Baines Johnson signed the Gun Control Act of 1968. Before this Act, the 2ndAmendment was alive and well in the United States. The Gun Control Act of 1968 turned a right into a privilege and forever forced the American people to bow at the altar of government when seeking to arm themselves. Interestingly enough, this Gun Control Act mirrored Nazi Germany’s Gun Control Act of 1938. In fact, the Gun Control Act of 1968 is almost a verbatim copy of Hitler’s Gun Control Act of 1938.
Our Founding Fathers could never have imagined that the American people would ever allow their right to keep and bear arms be infringed. In fact, it was the attempted confiscation of the firearms stored at Concord, Massachusetts, that triggered the War of Independence in 1775. That the people of Massachusetts would be denied their right to keep and bear arms, as they are today, could not have been foreseen–and would never have been tolerated–by America’s founders.
The hundreds and hundreds of draconian gun control laws that have been inflicted upon the American people have all come about as a result of the Gun Control Act of 1968.
January 22, 1973
This is the date when the US Supreme Court issued the Roe v. Wade and Doe v. Bolton decisions, which, in effect, legalized abortion-on-demand. These two decisions expunged the Jeffersonian principle that all men are endowed by their Creator with the unalienable right to life (Declaration). Since then, more than 50 million unborn babies have been legally murdered in their mothers’ wombs. Abortion is, without a doubt, America’s national holocaust. It has opened the door to a host of Big Government programs and policies that have resulted in the wanton destruction of human life both in the United States and overseas. It has created an entire industry whose express purpose for existing is the destruction of human life. It has desensitized the conscience and soul of America. Furthermore, it has forced men of decency and good will to finance–with their tax dollars–the unconscionable act of killing unborn children.
And once again, another Jeffersonian principle was eviscerated. He said, “To compel a man to furnish contributions of money for the propagation of ideas which he disbelieves and abhors is sinful and tyrannical.” The Roe and Doe decisions violate this principle in the most egregious manner possible.
October 26, 2001
This is the date when President George W. Bush signed the USA Patriot Act, and the federal government’s war against individual liberty began in earnest. Most of the unconstitutional eavesdropping, snooping, wiretapping, phone call intercepting, email reading, prying, financial records tracking, travel watching, ad infinitum, ad nauseam, by federal police agencies began with the implementation of the Patriot Act. The Department of Homeland Security and the “war on terrorism,” which have resulted in the deaths of tens of thousands of innocent people worldwide, and the usurpation of federal power at home, have all come about as an outgrowth of the Patriot Act. The Patriot Act has forever shifted the focus of American law and jurisprudence against constitutional government and individual liberty, toward a police-state mentality.
October 17, 2006, and October 9, 2009
These are the dates when President G.W. Bush signed and President Barack Obama re-signed the Military Commissions Act. This Act is the outgrowth of the Patriot Act and has, in effect, terminated the fundamental protections of individual liberty, which are found in the US Constitution and Bill of Rights. For all intents and purposes, the Patriot Act and Military Commissions Act (along with the NDAA) eviscerated the 4th and 5th Amendments, and do serious injury to several others. The Military Commissions Act also expunges the constitutional right of Habeas Corpus.
March 21 and 23, 2010
These are the dates when Congress passed and President Obama signed into law the “Patient Protection and Affordable Care Act,” the so-called “health care reform” bill that we spoke about at the beginning of this column. While Social Security and various Welfare programs have toyed with socialism in the United States, this bill is the largest and most expansive endorsement of socialism in American history. This bill socializes some 18% of the US economy by socializing the health care industry in America. The fallout and ramifications of this bill are going to be horrific.
When future historians review the demise of our once-great republic, they will observe that the above dates were the dates that destroyed America. The American people have been far too tolerant for far too long.
They’re more powerful than standing armies. What they say goes. They decide policy. They rule the world. They do it by controlling money, credit and debt.
They manipulate markets for self-enrichment. Grand theft is official Wall Street policy. Government officials wink, nod, and permit the grandest of grand larceny to persist.
Financial giants recycle their executives in and out of Washington. They strip-mine economies for profit. They buy politicians like toothpaste. Whatever they want they get.
They do it at the expense of government of, by and for everyone equitably and just.
On October 2, 15 financial lords met with Obama. They did so at the White House. They gave him their marching orders.
They came to assert their demands. They’re uncompromising. They’re ruthless. They want business as usual continued. They want more than ever.
They want more bailouts. They want bail-ins. They want personal bank accounts, pensions and other assets looted.
They want more crushing neoliberal harshness. They want America thirdworldized. They want it looking like Greece.
Budget and debt ceiling debates conceal their ugly agenda. What’s ongoing is a longstanding orchestrated swindle. Bipartisan complicity supports it.
Social America is on the chopping block for elimination. Another grand bargain plans it. Expect it once current theatrics end.
The worst of what’s coming could begin in weeks. Harder than ever hard times will follow.
Obama expressed support for deeper Medicare and Social Security cuts. He’s on board for weakened social protections overall.
Partisan warfare is more subterfuge than real. Both parties fundamentally agree. They want New Deal/Great Society policies entirely ended.
Wall Street bosses demand it. They want to feed more aggressively at the public trough than already. They want money gotten used to make more of it.
They want it stolen from ordinary people to make doing so easier. Obama and congressional leaders are their hired hands.
They’re complicit. They’re on board to eliminate “unnecessary” social programs. He want them entirely eliminated. They’re dismantling them incrementally.
Social Security, Medicare, Medicaid and public pensions are prime targets. Planned death is by a thousand cuts. It’s the new normal. It’s by letting Wall Street profiteers control these programs.
So-called “creeping normalcy” is defined as a way to make major changes seem normal and ordinary.
Class war in America has been ongoing for decades. It’s worse now than ever. It benefits business and rich elites. It does so at the expense of most others.
Middle class America is targeted for elimination. Bipartisan complicity plans it. Obama capitulated to Republicans on preserving tax cuts and other benefits for rich elites.
He gave trillions of dollars to Wall Street crooks and other corporate favorites. Profiteers benefit hugely from ongoing imperial wars.
Main Street Depression conditions persist. Bipartisan complicity plans much worse ahead. Militarism, favoritism, waste, fraud and other rewards benefit Wall Street and other special interests.
They do so at the public’s expense. Let ‘em eat cakes defines official policy. Ordinary people are increasingly on their own sink or swim.
Wages no longer keep up with inflation. Benefits steadily erode. High-paying manufacturing and service jobs offshored to low wage countries. Automated production claimed more.
So-called free markets aren’t fair. They work best for those who control them. Growing numbers of others lose out entirely.
Technology driven productivity increasingly pressures workers to toil longer for less pay and fewer benefits.
Marx was right explaining capitalism’s contradictions. They reflect an anarchic, ungovernable system. Today’s monster is far worse than he imagined.
Powerful monopolies and oligopolies control production, commerce and finance. Wall Street and other corporate bosses demand increasing amounts of surplus from pressured workers.
They’re looting America. They’re wrecking it. They’re sucking it dry for profit. Predatory capitalism is too corrupted, malignant and broken to fix.
Institutionalized inequality reflects it. America is more hypocrisy than democracy. It’s a kleptocracy. Criminal gangs pose as political parties. They’re complicit with corporate crooks.
They’re war criminals. They’re serial liars. They’re scoundrels of the worst kind. America’s real crisis isn’t government shutdown, said Paul Craig Roberts.
It’s not the debt ceiling. It’s looting America. It’s wrecking the economy. It’s offshoring good paying jobs. It’s lowering the tax base in the process.
It did so by transferring America’s wealth and overall well-being to China and other low wage countries.
It did it by permanent imperial wars. They inflate annual spending. Larger deficits followed. They’re “too large to be closed,” says Roberts.
Money printing madness sustains things as long a possible. What can’t go on forever, won’t. Dollar debasing doesn’t work. Gold and silver prices reflect it.
Wall Street and Washington rig markets to keep them from going higher. Illegal naked short selling is done to do so.
It constrains prices even when physical demand is increasing. It bears repeating. What can’t go on forever, won’t.
Given irresponsible financial/economic policies, expect eventual gold and silver prices to explode.
Another crisis, says Roberts, “is the absence of intelligence among economists and policymakers.”
Don’t worry, they said. Offshoring jobs doesn’t matter, they claimed. A “New Economy” with better jobs is coming.
Monthly payroll data explain otherwise. High paying/good benefit jobs are disappearing. Low paying/poor or no benefit jobs replace them.
America is being hollowed out in the process. It’s being strip-mined of its material wealth and resources.
It’s being suffocated. It’s being thirdworldized. It’s headed toward dystopian backwater status.
Plans are to force feed greater austerity. It’s to replicate Greece harshness. It’s to make America a ruler – serf society.
It’s to crush trade unionism. It’s to crack down hard on nonbelievers. It’s to make America more than ever unfit to live in.
It’s to create more severe crisis conditions than now. It’s to do so for greater profits and control.
Ending what’s ongoing requires replacing duopoly power with responsible governance. It requires rebuilding the nation’s industrial base.
It’s ending imperial wars. It’s disbanding America’s empire of bases. It’s strengthening social protections too vital to lose.
It’s putting money power back in public hands where it belongs. It’s making the privately owned and controlled Fed really federal. It’s prohibiting banks too big to fail from existing.
It’s ending corporate personhood. It’s replacing kleptocracy with real democracy. It’s running free, fair and open elections. It’s getting money entirely out of politics.
It’s curbing corporate power once and for all. It’s empowering people over money. It’s making crime no longer pay. It’s prosecuting crooks in the suites. It’s protecting human and civil rights.
It’s mandating universal healthcare and public education. It’s reinvigorating organized labor.
It’s reinstating progressive taxes. It’s making everyone pay their fair share. It’s guaranteeing a minimum life sustaining income.
It’s abolishing poverty, unemployment, hunger, homelessness and inequality. It’s ending favoritism. It’s getting rogues, rascals and other miscreants out of government.
It’s substituting truth and full disclosure for managed news misinformation. It’s replacing media scoundrels with responsible ones to do so.
It’s consigning Wall Street and other corporate crooks to the dustbin of history.
It’s establishing government of, by and for everyone. It’s making America what it never was before.
It better happen soon or else. Roberts calls today’s situation dire and “discouraging.”
“At this time,” he says, “collapse seems the most likely forecast.”
Perhaps rebuilding from ruins will change things, he hopes. Perhaps intelligent life exists elsewhere. Perhaps it’s on other planets.
Perhaps it’ll replace what doesn’t exist on earth. Perhaps it’s the only hope for survival. There may be no other way.
Stephen Lendman lives in Chicago. He can be reached at email@example.com.
His new book is titled “Banker Occupation: Waging Financial War on Humanity.”
Visit his blog site at sjlendman.blogspot.com.
The real crisis is not the “debt ceiling crisis.” The government shutdown is merely a result of the Republicans using the debt limit ceiling to attempt to block the implementation of Obamacare. If the shutdown persists and becomes a problem, Obama has enough power under the various “war on terror” rulings to declare a national emergency and raise the debt ceiling by executive order. An executive branch that has the power to inter citizens indefinitely and to murder them without due process of law, can certainly set aside a ceiling on debt that jeopardizes the government.
The real crisis is that jobs offshoring by US corporations has permanently lowered US tax revenues by shifting what would have been consumer income, US GDP, and tax base to China, India, and other countries where wages and the cost of living are relatively low. On the spending side, twelve years of wars have inflated annual expenditures. The consequence is a wide deficit gap between revenues and expenditures.
Under the present circumstances, the deficit is too large to be closed. The Federal Reserve covers the deficit by printing $1,000 billion annually with which to purchase Treasury debt and mortgage-backed financial instruments. The use of the printing press on such a large scale undermines the US dollar’s role as reserve currency, the basis for US power. Raising the debt limit simply allows the real crisis to continue. More money will be printed with which to purchase more new debt issues needed to close the gap between revenues and expenditures.
The supply of dollars or dollar denominated assets in foreign hands is vast. (The Social Security system’s large surplus accumulated over a quarter century was borrowed by the Treasury and spent. In its place are non-marketable Treasury IOUs. Consequently, Social Security is one of the largest creditors to the US government.)
If foreigners lose confidence in the dollar, the drop in the dollar’s exchange value would mean high inflation and the Federal Reserve’s loss of control over interest rates. It is possible that a drop in the dollar’s exchange value could initiate hyperinflation in the US.
The real crisis is the absence of intelligence among economists and policymakers who told us for 20 years not to worry about the offshoring of US jobs, because we were going to have a “New Economy” with better jobs.
As I report each month, not a single one of these “New Economy” jobs has appeared in the payroll jobs statistics or in the Labor Department’s projections of future jobs. Economists and policymakers simply gave away a good chunk of the US economy in order to enhance corporate profits. One result has been to create in the US the worst distribution of income of all developed countries and of many undeveloped ones.
In the scheme of things, the enhanced profits are a short-run thing, because by halting the growth in consumer income, jobs offshoring has destroyed the US consumer market. As I noted in a recent column, on September 19 the New York Times reported what I have reported for years: that US median family income has not increased for a quarter of a century. The lack of consumer income growth is why 5 years of massive monetary and fiscal stimulus have not brought economic recovery.
The real crisis cannot be addressed unless the jobs are brought back home and the wars are stopped. As powerful organized interests oppose any such measures, Congress will pass a new debt ceiling and the real crisis will continue.
Do you hear any mention of the real crisis in the media? Today I was on an international TV program for 25 minutes with the chief financial editor of one of England’s major newspapers. Little doubt but that he was a good-hearted and intelligent fellow, but he had no capability of thinking outside the box. He was unable to comprehend my explanations, and resorted to regurgitations of the media’s ignorance or subservience to Washington’s propaganda.
Among his regurgitations was the “solution” of cutting Social Security. The chief financial editor of a major UK newspaper did not know that for the past quarter of a century Social Security revenues exceeded Social Security payments, and that the Treasury spent the surplus to fund the annual operating expenses of the government, issuing non-marketable IOUs to the Social Security Trust Funds.
The chief financial editor also did not comprehend that cutting Social Security payments also cuts consumer spending or aggregate demand, and sends the economy down further, thus magnifying the deficit/debt problem.
Because of the serious decline in the US economy caused by jobs offshoring and financial deregulation, Social Security no longer adds to its surplus. Social Security payments need the supplement to the annual payroll revenues of repayments by the Treasury of the borrowed funds.
The only reasons that Social Security is in trouble is that jobs offshoring and wars have constrained the US Treasury’s ability to make good on its debts except by having the Federal Reserve print money. Every job that is sent abroad does not contribute payroll taxes to Social Security and Medicare.
Insouciant American economists say that manufacturing is an outmoded source of employment, but Chinese manufacturing employment is almost equal to the total US labor force in all occupations, including waitresses and bartenders and hospital orderlies. China’s economy is growing at a rate of 7.5% in real terms, while Western economies cannot move forward and some are regressing.
In order to appease Wall Street, the most corrupt institution in human history, and to prevent Wall Street-financed takeovers of their corporations, executives destroyed the American consumer market by offshoring American incomes in order to enhance profits by substituting cheap foreign labor for US labor.
In my opinion, the US economy is not salvageable in its present form. The economy is running out of water resources. The supply that remains is being decimated by fracking. The soil is depleted by glysophate, a requirement of GMO agriculture. The external costs of production are rising (the costs that the corporations impose on the environment and third parties) and possibly exceed the value of the increase in corporate output. Economists are incapable of independent thought, and elected representatives are dependent on the private interests that finance their campaigns.
It is difficult to imagine a more discouraging situation.
At this time, collapse seems the most likely forecast.
Perhaps out of the ruins, a new, intelligent beginning might occur.
If there are any leaders.
Paul Craig Roberts was Assistant Secretary of the Treasury for Economic Policy and associate editor of the Wall Street Journal. He was columnist for Business Week, Scripps Howard News Service, and Creators Syndicate. He has had many university appointments. His internet columns have attracted a worldwide following. His latest book, The Failure of Laissez Faire Capitalism and Economic Dissolution of the West is now available.
Source: Paul Craig Roberts
Angela Merkel is not a charismatic leader. She lacks Margaret Thatcher’s zeal, Benazir Bhutto’s looks (Berlusconi once commented on her lack of feminine charms in his inimitably discourteous manner), or Indira Gandhi’s carefully cultivated caring touch. She wears one of her dull jackets with dark trousers every day. When asked about her biggest youthful mistake, she recalled the day she climbed a tree and ruined a new tracksuit. She is buzz-free and speaks like a Gymnasium chemistry teacher. She looks like a Hausfrau next door and seems comfortable about it.
The Germans like her just the way she is: matter-of-fact, pragmatic and reliable, promoting consensus over conflict. The ruling center-right Christian Democratic Union, CDU (together with its Bavarian partner, CSU) took 42 percent of the vote at the general election last Sunday, the party’s best showing since Konrad Adenauer’s heyday in 1957. Such strong showing was largely due to Merkel’s personal appeal to the voters. That is good news for the Federal Republic and for her neighbors: the Chancellor’s popularity indicates that Germans are permanently weary of charismatic leaders with a talent for public speaking. Former Chancellor Helmut Schmidt once said that any politician who says he has a “vision” should see a doctor.
The irony of Merkel’s success is that she has fallen just short of the simple majority, and the likely new coalition will be far less to her liking than the old one. The FDP, her pro-business, socially liberal coalition partners, have suffered a debacle, dropping from 14 percent of the vote in 2009 to under 5 percent now. This means the party will not be represented in the Bundestag for the first time since its founding shortly after World War II, and therefore it will not be able to play its traditional role of the ruling party’s junior partner. Its destiny was sealed by Merkel’s failure to call on CDU/CSU supporters to “donate” their second vote to the FDP (Germans get one vote for an individual parliamentary seat and a second that goes to the national list)—which she probably regrets now.
Theoretically three parties of the left will have a majority, but neither the SPD nor the environmentalist Greens want to join forces with the smallest of the four parties represented in the new Bundestag, the Left (Die Linke); the successors to the East German ruling SED have also ruled out that possibility.
The Social Democrats (SPD) have also done poorly—at just over 27 percent they have barely improved their dismal 2009 score—but they will exact a steep price for agreeing to join another grand coalition led by Merkel. They did so in 2005, and were punished for that by their voters four years later. A party spokesperson said that “the SPD is not waiting in line or competing for this, after Frau Merkel ruined her previous coalition partner.” The SPD will insist on raising tax rates on incomes above 100,000 euros to 49 from 42 percent and on introducing a nationwide minimum wage of 8.50 euros per hour, a key plank of their campaign platform. It is an even bet that the SPD will get at least two key ministries, finance and foreign affairs, when the negotiations are over.
The FDP’s undoing was partly due to the rise of the Euroskeptic Alternative for Germany (AfD), which came one-tenth of one percent short of the 5% parliamentary threshold. Founded only seven months ago, the party advocates dumping the euro, reinstating the Deutschmark, and leaving the Club Med to the tender mercies of the global marketplace. The new party attracted a disproportionate share of FDP votes.
That the AfD did not do even better is due to the fact that most Germans understand (although few will say so openly) that the euro experiment has been very good for Germany. Its economic ascendancy over Europe is beyond challenge. In the old days less efficient economies could devalue their currencies, or manipulate interest rates, or both, to stay competitive. Locked into the German-dominated European Central Bank shackles, they are now permanently dependent on Merkel’s grudging willingness to bail them out when absolutely necessary, while lecturing them on the need to further tighten their belts. Referring to Germany’s ability to keep its unit labor costs low and maintain competitiveness, Merkel said “What we have done, everyone else can do.” This is not so. The southern eurozone countries are now permanently vulnerable to Germany’s domination of their domestic markets for industrial products and permanently unable to kick-start growth by stimulating aggregate demand.
Most Germans agree with Merkel, however, and don’t care that Greece’s economy has shrunk by 25 percent in recent years, that Italy has not grown in a decade, or that Spain’s youth unemployment exceeds 50 percent. It would be in Germany’s interest to rethink the single-minded austerity regime imposed on the southern eurozone for two reasons. Continuing slump would reduce the demand for German goods, and it may enhance anti-EU and anti-German sentiment which would be detrimental to the long-term maintenance of political status quo. Merkel’spax Germanica demands more subtle fine-tuning of the edifice. The Social Democrats understand that much, which may produce another irony of the election result: by making Germany marginally more flexible, the new grand coalition may enhance its open-ended dominance of the Old Continent.
You know, in spite of the visit from The Bone Lady when I was just three years old, and all the grim foreshadowing that she downloaded to me via direct intuition, I always held out hope that humanity could or would somehow turn things around on this planet, and snatch victory from the jaws of defeat.
As long as there is breath there is always hope, that was my thinking for a long time, but I am no longer so sanguine.
As one of my friends recently remarked to me, there is, indeed, real evil abroad in this world. I don’t know how else to explain the wickedness of what is happening at Fukushima, in Japan, where the situation with the exploded and/or melted down nuclear reactors just goes from frightfully dire to unimaginably worse.
I frequently check the developments there at www.enenews.com and the latest news is very disturbing. I said from the outset, in the spring of 2011, that Tokyo would be evacuated. I still believe that to be inevitable. It is possible that much of Japan will be evacuated to elsewhere. The apocalyptic dimensions of the crisis are being covered up by TEPCO, the Japanese government, General Electric, and the USSA government. The reality is that there was at least one, and maybe more, really dirty nuclear blasts there in March of 2011, that wrecked the reactors and created a radioactive hell that no one knows how to remedy or bring under control. At the least we are probably looking at the failure and collapse of Japanese society with likely evacuation of tens of millions of people or more, and the fairly rapid death of vast portions of the Pacific Ocean, as deadly radioactive waste water continues to flow into the sea by the hundreds of tons, every day.
And when the cooling pool at reactor four collapses, the many tons of highly radioactive, spent, fuel rods that it contains will overheat and burn and or catastrophically fission, i.e., cause a runaway, nuclear reaction, or, in lay man’s terms, there will be another atomic explosion, along with a mushroom cloud, and tons of highly poisonous nuclear isotopes will be spread aloft into the atmosphere and/or will drain or be blown into the sea, to poison the Pacific Ocean even further.
This is worse than bad news. This is planetary chaos news. This is civilization ending news. This is species extinction level news, as in extinction of the human species on this planet. If you do not think so, all I can say is: wait. It won’t be long. Probably not ten years, not five, maybe even by Christmas this year, and you will begin to see what i mean, if you haven’t already.
And even if the cooling pool at reactor four doesn’t fail or collapse of its own accord in the near future, though that is very highly probable, TEPCO’s plan to manually remove the many tons of bent, mangled, fused, welded together, very highly radioactive fuel rods that remain in the pool, beginning in November of this year, is so fraught with peril that it is likely to spectacularly fail, with unimaginably negative consequences. Any slight mistake, miscue or dropped fuel rod could result in a fission criticality, a runaway nuclear chain reaction, to wit, an atomic explosion that will shower the northern hemisphere and the Pacific Basin with a fatal radioactive sleet that will persist for hundreds of thousands of years.
As I said, the situation is somewhere far south of dire, with a headlong, hellward trajectory.
The Nuclear Chain Reaction
Because what is inevitable, the longer the situation at Fukushima festers, is that the whole site will have to be abandoned. Due to the high radiation levels, no one will be able to work there without dying. So the workers will pull back, and the cooling pools and storage pools that contain thousands of tons of extremely radioactive, spent fuel rods will fail or collapse and there will be more explosions and radioactive fires. As the radioactively contaminated NO GO ZONE expands, as the population flees, the day will come when nuclear reactors at other, nearby power generating plants will also fail, melt down and/or explode, because the nuclear engineers and maintenance workers no longer come to work and operate them — BECAUSE THEY ARE DEAD.
And then there will be three or four more, and the radioactive No Go Zone will expand, widen, grow. And other nuclear power plants will then fail, melt down and/or explode, because their operators are also DEAD, and so do not come to work, do not maintain them.
There are over 50 nuclear power reactors in Japan, and they all have their spent fuel rod cooling pools. It doesn’t matter if the reactors themselves are shut down, because there are thousands and thousands of tons of highly radioactive, spent, nuclear fuel rods stored in the cooling pools all over Japan. So, given time, the crisis will continue to fester and worsen, and then it will begin to cascade, like a row of toppling dominoes, only it will be a series of failing nuclear power reactors, one after the other, heralding the end of the nuclear age, and quite possible the end of humanity.
It’s just that serious.
All of that will send a killing wave of radioactivity across the Pacific to North America. So what happens when the population on the west coast of the USSA flees in panic from the approaching killer wave of radioactivity? Well, there will be no one left to operate the nuclear power reactors in California, for example. or at Palo Verde, the massive nuclear power plant just to the west of Phoenix. So when those nuclear reactors and their spent fuel cooling pools fail, melt down, and/or blow up, the civilization-ending, planet-killing, Fukushima Syndrome will come home to America with a wicked vengeance.
All courtesy of General Electric. General Electric designed five out of the six reactors at Fukushima and built three of them, so what we see here is genocidal, planet-killing failure of American (alleged) “high technology” on a spectacular scale.
At the end of the day, all the differential calculus, the nuclear physics, the nuclear chemistry, the nuclear engineering, the corporate profits, the Madison Avenue advertising slogans, the multinational wheeling and dealing, all has conspired to assassinate the planet on which we, and they, all live. Make no mistake, the planet is now dying. The global poisoning process is so very far advanced that it probably cannot be stopped. Certainly, there is not now any serious, international effort to do so, not anything remotely commensurate with the level of danger that we are facing.
No doubt we are dealing with profound iniquity, a betrayal so complete of all that is human that no words exist to describe its foul dimension. The ones who have done this thing walk among us, though for how long? – understanding that they, too, will certainly drop dead along with countless millions of others, as a direct result of their abjectly arrogant ignorance.
All of their super-computers, the advanced mathematics, their (so-called) “hi-tech” industrial base, all of their billions of dollars of (so-called) “high finance” — and they kill the planet? And themselves and their posterity in the process? That’s the best they can do? They get a PhD in nuclear chemistry and use their (so-called) “knowledge” and (so-called) technical “expertise” to kill the planet? The planet that they also live on?
Geniuses. All of them.
Central Banking Middle East Madness
Then there is the very real prospect of a shooting, nuclear war, beginning in the Middle East. The USSA has a powerful fleet in the region. So do the Russians, as a counterpoint. Sadly for all humanity, the Washington, DC — City of London — Lower Manhattan — Tel Aviv — NATO cabal seems hell bent on war, and so we are on the slippery slope to war. Unfortunately, this psychopathic cabal is very heavily nuclear armed.
I saw all of this coming from waaaaaaay back, from way back in my infancy, since the age of three years, when The Bone Lady visited me and clued me in to realities that I still don’t want to think about, given their ghastly, hideous savagery. But I’ll tell you what, it’s enough to give a man insomnia, it’s enough to drive him out onto the nuclear missile silos, again and again, in a personal effort to inject a note of sanity and warning into a positively insane political and military climate, in an attempt to wake up anyone who may be susceptible to awakening.
My latest sally was 15 April 2010 in North Dakota, USA. I went over the security fence onto the H-8 Minuteman III nuclear missile silo in the Minot Air Force Base nuclear missile field, near Parshall, North Dakota, at the intersection of 33rd Street and 76th Avenue. I conducted a nonviolent, peace demonstration on the silo and was arrested by the USSA military and imprisoned for 100 days, almost all of the time served in the Heart of America Correctional and Treatment Center in Rugby, North Dakota.
My Minot Manifesto explains my motivations, reasons and spiritual and political philosophy. It is one of the most important documents I have written in my entire life.
A Serious Message From The Heart of America was my personal statement that I mailed to the news media from jail in Rugby, North Dakota, on 14 July 2010, prior to being criminally tried and convicted in USSA federal court in Minot, North Dakota.
I explain the symbolism in my dress and accoutrements in the photo below, in the text of my lengthy Minot Manifesto. It’s thirteen pages, but worth the time and effort to read. It is a major life statement on my part, that reflects literal decades of deep thought, a very large quantum of concentrated life energy and hours, weeks, months and years of preparation, a statement that distills an important fraction of my life essence into human language. I invite you to partake of my gift by taking the time to read and reflect on what I have written, and then to take meaningful, principled, creative, nonviolent action yourself.
I don’t quite know what more to say, what more to do. In fact, were I to do more than I already have, and I have been out on the nuclear missile silos three times (and been jailed for my trouble all three times, in Arkansas, Missouri and North Dakota), I would run the very real risk of infringing on your right and your very real, personal RESPONSIBILITY to also courageously act. So what are you waiting for? Why are you here on this planet, at this time, reading this blog post, and articles like it?
Because make no mistake about it, the time to act, if you are going to act, is here. The time has arrived. The planet is on the brink. We face the very real prospect of a shooting nuclear war. Additionally, the Fukushima crisis, and the threat from nuclear power plants in general, ALL OF THEM, could not be more serious.
In recent days, I find myself musing about the closing scene from “Dr. Stramgelove,” with the haunting song by Vera Lynn, “We’ll Meet Again, Don’t Know Where, Don’t Know When,” that was such a huge hit in World War II, for obvious reasons.
And it fills me with such melancholy and sorrow. Because if it starts, this ugly thing called nuclear war, and we are headed that way, can all unravel very rapidly. The machines will take over, and automated, pre-programmed orders of battle will be carried out, without human control, as machines battle machines with nuclear fire. Waves of missiles will come in, again and again, to batter the underground bases. I have read the declassified documents. Warhead after warhead will come in at 10 minute intervals. You cannot imagine the depths of the hell that is already programmed and waiting to be unleashed.
Back in the 1960s, the USSA military was counting on 140 million casualties in the mainland USSA alone. I know this because I have read the documents. I have done the research. The USSA population is much larger now, and much more urban, so the casualty rate would be even higher. Maybe 200 million? 250 million casualties in the USSA alone?
Do you think you will just watch that on CNN?
Refuge in the Southern Hemisphere
If you have read my previous writings you will know that I have said that IF humanity has a future, it is likely to be in the southern hemisphere, if only because the lion’s share of the nuclear weapons and nuclear power reactors are in the northern hemisphere. As the nuclear power plants fail, melt down, and/or explode most of them will be in the northern hemisphere. This is not an intellectual exercise — already we have had catastrophic failure of nuclear power plants at Chernobyl, Ukraine and Fukushima, Japan. They are just the first. There will be more.
Likewise, any shooting nuclear war is logically likely to be concentrated in the northern hemisphere, since all of the known, nuclear armed, military powers are in the northern hemisphere
But even then, there are enormous problems in the southern hemisphere. The vegetation in the Amazon region of South America produces something like 20 to 30% of the oxygen in the Earth’s atmosphere. As the Amazon dies, and it is being destroyed right now, so too, is the Earth’s breathable oxygen supply being destroyed. I don’t know about you, but I breathe oxygen all day and all night, every day and every night of my life.
So even if we resolve the nuclear issue, and there is ZERO progress on that front right now, only to lose the Amazon, we all will still die, because none of us can survive with 20 to 30% less oxygen. Just cannot.
Right now, we, humanity, every last one of us, are in a life and death struggle for the life of our species, and the life of our planet.
If we win, we live. If we lose, we die. ALL OF US.
End of the story. End of our species’ genetic line. For ever and ever.
So maybe moving to Bolivia or Uruguay or Namibia or Madagascar or New Zealand will buy you a little time, a year or ten. However, if we fail to rein in and ABOLISH nuclear reactors and nuclear weapons, if we fail to reforest the Earth and cleanse it of radioactive contamination, then we are through. It’s the end for us.
This is our group decision. Right now we are on a self-destructive path to global extinction.
So Here Is My View
If you will act decisively, now is the time. Pick your issue and your spot and act creatively, courageously and nonviolently.
It’s your world and your life. Act like they both count for something.
And here’s the other thing. If you cannot, or will not act, then how about supporting those of us who have acted, and who continue to act?
In my case, I have paid a very heavy price, in earnings forever foregone, by putting my life on the line, repeatedly, for you, whom I do not even know. But because you are my human kin, I went out on the missile silos, again and again, and I went to jail. I lost more than a year and a half of productive labor. I lost, as well, the opportunity to have a whole wide range of well paying jobs, due to my arrest and prison record, even though I have multiple advanced university degrees, up to the doctorate level.
Subsequent to my arrival in South America, I immersed myself in Amazonian shamanic culture, the better to understand the Amazonian region, the jungle itself, and the shamanic human ecology of the region that interfaces with the hyper-conscious plants in the jungle, only to be very gravely assaulted by one of the said Amazonian shamans and hospitalized for more than four months with massive trauma to both my body and emotions. I am now pursing a criminal case against the shaman and that also costs heavily, several thousands of dollars in attorneys’ fees, at the very time when so much of my time and energy is taken up with therapy and the sheer physical effort of getting around with impaired mobility. Nine months after the assault I still have physical nerve trauma in my lower extremities, a good deal of numbness and what is called drop foot. I walk with crutches. My electro-therapy also costs. At the moment I cannot go to electro-therapy, although I badly need it, because I only have $35 to my name.
I have run completely through my meager life savings and there is no more.
Additionally, I have this week begun the formal petition process to the government of Ecuador to request political asylum. My years-long record of anti-nuclear activism and repeated jailing by the USSA government is one factor in my decision, coupled with other factors such as recent revelations of universal NSA surveillance and espionage, the secret arrest and indefinite military detention provisions of the NDAA of 2012 and 2013, the recently revealed, previously secret 2011 FBI documents that blatantly discuss plans to murder Occupy Movement activists by sniper fire, including in San Antonio, Texas, where I lived and worked as a window washer from 2000 to 2009, and all of this in the context of an all encompassing pattern of unbridled lawlessness and pervasive lying with regard to EVERYTHING by the American government. All of this and more, has brought home to me the seriousness of this moment that we are living now.
I have the obligation to safeguard my own liberty and safety. It is clear to me that politically I am freer and safer in Ecuador than in the USSA. The American government has taken a hard, dictatorial turn towards neo-fascism. That is the plain truth. The harsh, repressive treatment of Edward Snowden and Chelsea (formerly Bradley) Manning makes that clear enough. We are in altogether different territory now. And so I have petitioned for political refuge in Ecuador.
This also entails paying an attorney, to assist me in my interactions with the administrative, legal and political system in Ecuador. It is my life on the line and I am proceeding very carefully, every step of the way.
But it is also your life on the line, in that my anti-nuclear activism, my immersion in the Amazonian culture, and my pursuit of political refuge in Ecuador all have profound implications far beyond just me. What happens to me also has broad implications for you. The consequences of nuclear war are too horrific to contemplate, and if it is to be avoided, it is because of actions such as mine. Similarly, we simply cannot afford to lose the Amazon, and yet we are losing it right now. If we are to save it, a big part of that will be due to the personal efforts of those who come to the region and get personally involved in the nitty-gritty, even life-threatening struggle for the soul of the Amazon, because more than anything, we are involved in a pitched battle for the very spirit and soul of the Amazon and of the rest of this planet.
Similarly, if I, with my history of activism, book writing, researching, blogging, public speaking, interviews, and repeated nonviolent civil disobedience and consequent jail record, cannot obtain political refuge abroad, then what hope do you have? You’re boxed in, that’s what. You’re in a cage with no exit.
And so, if you cannot or have not done the things that I and others like myself have done and are doing, then can you please, will you at least please support us?
I desperately need your support now. My legal fees run to thousands of dollars, and my therapy is ongoing. I appreciate and really need your generosity. Please communicate with me at: firstname.lastname@example.org or via Skype at richard.sauder333 as to how to donate.
Come Ye That Love The Lord
I am a native Virginian, and have lived, worked, traveled, studied and gone to jail all over the American South, from the Virginias and Maryland, all the way across to South Texas, and numerous points in between. A very large block of my life has been spent down South. Although I am not now a church attending man, I have in the past been in all kinds of Christian churches, both Black and White, in big cities and small country towns.
Some of the most memorable sermons I have ever heard have been by Black pastors in rural areas of the deep South. One of the things I like about the traditional Black style of hymn singing down South is the way that the head deacon or pastor will frequently line out a hymn, especially the first line or two of a verse, and then the other deacons or members of the choir will join in, accompanied by riffs on the organ, if there is an organist, and there are some really gifted organists playing in southern Black churches.
I well remember a sermon that I once chanced to hear, decades ago, by a Black lay preacher, one sultry, Sunday night, in a tiny little town way down South, about as far south as you can go, and still be in the South and not somewhere else. The ceiling fans lazily stirred the muggy summer air, as the moths flitted vainly around the naked incandescent light bulbs hanging from the ceiling overhead. The windows were flung wide open and the pale light from the sanctuary washed feebly out through the rusted screens and flooded onto the close cropped lawn that surrounded the church. It was one of the most extraordinary public speaking performances I ever witnessed. The preacher used as his text Ezekiel 37, the theme being dry bones and systematically connecting them one to the other, the purpose being to reassemble and restore “them dry bones” to life. As he spoke, I saw that he fell into a trance, that he entered another state of consciousness, that he was self-hypnotized and that the sermon itself had a sort of existence independent of him, that the message took on a life of its own and was using his mind, his mouth, his body, to project itself into the ears, hearts and minds of the sparse assemblage present that evening. As he finished, he collapsed exhausted backwards into his armchair and lined out the first words of the hymn that he wanted the choir to sing. I don’t anymore remember exactly what song he called for, but it could well have been this: Come Ye That Love The Lord
If there is to truly be a new world order, as distinct from the obscene power that currently holds sway on this planet today, then we will need to see a completely new order of human being on this world, a species of human being motivated by love for the Creator and by devotion to inward and outward service to the sacred life impulse. We don’t see that now, and the human species may go extinct on this planet for its want.
I do believe in God and have been profoundly privileged to see some of His servants face to face. I find their company congenial.
Come, ye that love the Lord,
And let your joys be known;
Join in a song with sweet accord,
And thus surround the throne.
Let those refuse to sing
That never knew our God,
But children of the heavenly King
May speak their joys abroad.
The God of heaven is ours,
Our Father and our love ;
His care shall guard life’s fleeting hours,
Then waft our souls above.
There shall we see his face,
And never, never sin;
There, from the rivers of his grace,
Drink endless pleasures in.
Yes, and before we rise
To that immortal state.
The thoughts of such amazing bliss
Should constant joys create.
Children of grace have found
Glory begun below:
Celestial fruits on earthly ground,
From faith and hope may grow.
The hill of Sion yields
A thousand sacred sweets,
Before we reach the heavenly fields,
Or walk the golden streets.
Then let our songs abound,
And ev’ry tear be dry;
We’re trav’lling through Immanuel’s ground,
To fairer worlds on high.
(John Wesley, ca. 1703- 1791)
Source: Richard Sauder | Event Horizon Chronicle
The high priests of academic and “official” history love a good villain for two reasons: First, because good official villains make the struggles and accomplishments of good official heroes even more awe-inspiring. And, second, because nothing teaches (or propagandizes) the masses more thoroughly than the social or political lessons inherent in the documented rise and fall of the world’s most despicable inhabitants. We get shivers of fear and excitement when we discuss the evils and the follies of ancient monsters like Nero, Attila the Hun, Caligula, etc, or more modern monsters, like Mussolini, Stalin Hitler, Goebbels, Mao, Pol Pot, Idi Amin, and so on. We take solace in the idea that “we are nothing like them”, and our nation has “moved beyond” such animalistic behavior.
But even more fascinating popcorn-style history is found not in the destruction of tyrants, but the destruction of empires.
When an entire culture steps off the edge of the abyss into the realm of societal psychosis, the world often changes forever and in ways that, at least on the surface, seem to bring humanity a little closer together. The fall of Rome led to the eventual rise of a dominant Catholic theocracy and the rulership of royal blood lineage that lasted for centuries in Europe. The flames of World War I and the destabilization of the Kaiser’s Germany led to the formation of the League Of Nations; a first attempt at a global governing authority designed to “maintain world peace”. World War II and the fall of the Third Reich resulted in considerable horrors, which the establishment of the United Nations was supposedly meant to prevent from ever occurring again. The decline of the British Empire saw the implosion of cultural colonialism, and the rise of corporate colonialism, which centralized immense power into the hands of the banking class as the new official oligarchs of our modern era. The collapse of the Berlin Wall and the abandonment of the Soviet Union was lauded by then U.S. President George Bush as the beginnings of a “New World Order” – an ideological concept which heralds the final deterioration of the idea of economic and political sovereignty as a mainstay of human civilization.
When examining the approved version of historical conflict, one gets the overwhelming impression that the villains of our past, through their hubris, their greed, and their insanity, seem to inspire a sudden surge of unification as their ashes are cleared from the air. One might even come to believe that the “natural progression” of conflict is leading us towards a future in which the only solution is the dissolution of all boundaries and the adoption of a one world narrative. Wouldn’t it be glorious if the deaths of these malevolent tyrants and societies finally inspired the birth of a single human system in which no conflict is possible because we are all on the same side?
Perhaps it would be glorious, if you have adopted the childish notions of history common to the mainstream. For those who have not, the story, and the ultimate solutions to the ills of mankind, become a little more complicated…
America’s Villainous Mustache
Mainstream history tends to follow the motions of a play or film, in that archetypes and symbolic figures are consistently created in order to satisfy the natural flow of a particular fiction. The bad guy wears a mustache (not always, but it is strange and disturbing to see how often this archetype materializes in the mainstream world view. Just look at Hitler, Stalin, Fidel Castro, Saddam Hussein, Osama bin Laden, Muammar Gaddafi, Bashar al-Assad, etc. We love mustached villains). His criminal successes make him imposing and frightening. He acts without conscience, or, he wrongly believes his terrible actions are justified in the name of the “greater good”. His inevitable mistakes make his final failure ironic and satisfying in the face of the iconic hero, who defeats the enemy while the citizenry stands back and watches in awe and wonder as helpless spectators.
The villain is indeed evil, and deserves to be dethroned, but the assumption many people make is that the other side is diametrically good. This is not always the case…
America is used to playing the role of the hero in the epic tale of modern Earth. Our nation began with an act of defiance and victory so unexpected and so poetic, it cemented our cultural identity as freedom fighters for centuries to come. Over time, our government, turning progressively corrupt, has exploited this cultural identity in order to lure Americans into committing atrocities in the name of our traditional sense of “heroism”. We have, in fact, become the very antagonists we thought we were fighting against (there’s the delicious irony needed to round out our fairytale).
Our government’s actions surrounding Syria, for instance, have made America appear not just bloodthirsty, but also ridiculous. The Obama Administration has taken us to the brink of World War III and left us there to stare out over the chasm. The slightest breeze could send us plummeting. All to generate military support for Al-Qaeda, the same organization designated by the establishment as our mortal enemy.
In the meantime, our economic system now survives solely on the whims of the Federal Reserve, a private central bank that answers to NO ONE, and writes fiscal policy without oversight. The government is not only seeking to trigger world war, it also wants to pay for that war with money we do not have, riding debts we cannot pay, to foreign creditors we will piss off in the process of unleashing our unfunded laser guided hell.
Never has the U.S. been slathered in so much absurdity all at once. Now, we wear the mustache…
Most of us in the Liberty Movement would agree that our country is being poisoned from within, and that our government for many decades has become an enemy of all free peoples. But there is a very important question that we seem to have overlooked:
If America has been written as the villain, then who is meant to be the hero?
Putin Is Not Your Buddy
Lets step back from the global stage for a moment and examine the situation from a different perspective. What if the U.S. is not just a product of corruption for corruption’s sake? What if our new identity as the next historical evil-doer is part of a greater script, and America’s fall from grace is meant to be used to foment the success of fantastic (but fake) protagonists in an engineered fight for a “better and more centralized world”?
How many of us in the Liberty Movement cheered the diplomatic and strategic prowess of Vladimir Putin, for example, in the days leading to Obama’s “red line” attack on Syria? We cheered because his position was correct, and his demeanor made our government look homicidal by comparison. We cheered his letter to TIME Magazine because we are tired of being the only people pointing out the vicious parasite our political body has become, and it was exciting to be vindicated by an outside source. We cheered his protection of Edward Snowden, a truly courageous whistle blower that exposed the terrifying Orwellian nature of the NSA. We watch video reports from Russia Today (RT) because they give a far more accurate accounting of the facts in the U.S. than all American media entities combined. It is easy for us to get caught up in the idea that since the West has become the bad guy, the East must now be the good guy.
The problem is, we are being played yet again.
Putin has long called for the end of the dollar’s world reserve status and the creation of a new “global structure” and a “global currency” revolving around the IMF’s Special Drawing Rights:
Is it just coincidence that Putin wants the same centralized global economy and global governance that the IMF and multiple banking elites have been calling for for years? The same elites who created the debt crisis and currency crisis we now face in America? Is it just coincidence that Eastern economic and political dominance over issues like Syria perfectly benefits the IMF plan for an financial shift to the BRICS nations and away from the U.S. greenback? The same plan promoted by many American financial moguls?
Russia is a model for despotic socialized society posing as “civilized society”, and yet, our government has made America so ugly that Russia looks noble by comparison. Putin is placed on the cover of TIME magazine everywhere in the world except the U.S., and the Washington Times responds by stating that such behavior is a sign of “America’s downward spiral in the global community”, as if we are about to be shunned from the world at large:
While RT produces fantastic journalistic pieces that are critical of American government, rarely if ever do they turn a discerning eye to Russia, and this is not just oversight.
Look carefully at the narrative that is being constructed here. Putin is NOT our buddy. He represents exactly what our own government now represents; globalism and naked centralized government aggression against the individual. However, as mainstream history is being written, the story will be told that it was nations like Russia and China, and organizations like the IMF, that tried to hold back the tide of catastrophe while America, the last empire, steamrolled into thick-skulled oblivion surfing on a shockwave of fiat money and brute military vanity.
The Washington Aristocracy Is Scum, But Don’t Let That Fool You…
Most people with an extensive Liberty Movement education are well aware that false paradigms are used in politics by establishment elites in order to control social discussion and to divide the population against each other. The Left/Right debate has been and always will be a farce, being that the leadership on both sides of the aisle have identical goals when it comes to the most important aspects of the American structure. The elites of the Democratic and Republican parties, regardless of rhetoric, will BOTH strive for greater government power, less individual liberty, the erasure of economic sovereignty and free markets, and a dependent and enslaved public. On these pursuits, they completely agree.
In one week, our faux leadership is to decide once AGAIN on the possibility of a debt ceiling increase that will bring us ever closer to a debt and currency avalanche event. During past debates, much fanfare is given to the supposed conflict between the interests of the Democrats and the GOP, up until the last moment when the GOP caves in completely and allows the debt ceiling to be vaulted. Will the same happen again in this case? It depends on how quickly the establishment wants to bring entire roof down on our heads.
A freeze of the debt ceiling would eventually mean default on our Treasury Bonds, since our government must take on exponential debt in order to receive the benefits of the Federal Reserve’s printing press, as well as pay off our foreign creditors.
A government shutdown could slow the growth of some liabilities, but it does not account for the liabilities already in circulation, thus, we can still default. Not to mention, our debt and currency standing could easily come into question, resulting in a bond dump or loss of reserve status.
The only option that does not result in a fast moving firestorm through our financial system is a debt ceiling increase, and how much longer can we get away with kicking the can down the road? In any case, America is about to change for the worse, and the decision on when this is to happen was made a long time ago. The Washington aristocracy is blatantly guilty in the instigation of our current dilemma, and my theory is, they want you to know they are the culprit, as long as you continue believing they are the ONLY culprit. They want you to forget all about the IMF, the corporate elites, and Vladimir Putin’s involvement in the larger plan. They want you to cheer when international banks and what’s left of the G20 rescue us after years of fiscal disaster and institute centralized global economic governance. They want to be the only authors of this story, and what author doesn’t want to see himself placed in the role of the champion?
Just as there are false political paradigms, there are also false international paradigms. The Liberty Movement is the wild card; an unknown quantity. We aren’t fighting for one side or the other – we are fighting for particular principles and beliefs. The establishment’s best strategy is to co-opt our momentum by convincing us to focus on alternative opposition, or place our trust in fabricated advocates. No matter how epically monstrous our government becomes, and no matter how satisfying their ultimate demise will be, our battle does not end with them. It only begins with them.
Source: Brandon Smith | Alt-Market
So appropriate that the architect of banking deregulation, Larry Summers pleads that he is not the right person to head up the Federal Reserve. No S$%#. Well, the Fed is certainly the hot seat under normal circumstances. What will it be like when the next crisis directly puts into play the reserve currency status of the dollar? Do not worry, anniversaries are supposed to look at the brighter side. Never mind, our benevolent government is hard at work presenting the public with the kind of assurance that would make anyone start singing happy birthday.
Your government money provides charts for inspection. However, what did all that TARP money do to correct the panic? According to Anthony Reyes writing in Treasury Notes comes to a laughable conclusion in The Financial Crisis Five Years Later: Response, Reform, and Progress In Charts.
“But putting out the fires of the crisis was not enough. To address the underlying causes of the crisis, we had to modernize our regulatory framework and put powerful consumer financial protections in place. That is why President Obama took up the mantle of financial reform by championing and enacting the Dodd-Frank Wall Street Reform and Consumer Protection Act?. Americans now have a dedicated consumer financial protection watchdog, financial markets are more transparent, and the government has more tools to monitor risk, and resolve firms whose failure could threaten the entire financial system.
As we approach the five-year anniversary of the height of the crisis, the financial system is safer, stronger, and more resilient than it was beforehand. We are still living with the broader economic consequences, and we still have more work to do to repair the damage. But without the government’s forceful response, that damage would have been far worse and the ultimate cost to repair the damage would have been far higher.”
Sound so reassuring. However, Dodd-Frank ignored serious derivative overhaul. Forget about mere regulation of financial markets, what about the federal government taking on even more fiscal responsibility of last resort. Too big to fail is an empty phrase, when the full faith and credit of the Treasury is placed into question. Just whom do you trust?
“Hester Peirce, a scholar at the Mercatus Institute, told TheDCNF how Dodd-Frank’s placement of all financial derivatives into government-managed clearing houses could lead to poor investment decisions and possibly unbalance the financial markets.Because derivatives are such a complicated and long-term investment, Peirce argues that investors should always pay close attention to who they’re dealing with. “What Dodd-Frank does is say, ‘Don’t worry about [your counterparty], because you’re going to be in this relationship now with a clearing house for a year, and the clearing house is safe, so don’t worry about it,” she said.
“What we’ve done then is we’ve removed a whole layer of market scrutiny on counterparties,” Peirce concluded.”
Ah, the “so called” success of the Sugar Daddy rescue effort is that the final counterparty is the U.S. government, financed by the private Federal Reserve. Over at the Fiscal Times in an article, The 5 Best and 5 Worst Regulations in Dodd-Frank, provides the operative summary.
“The worst thing about Dodd-Frank is the misguided effort to remove risk from the system,” said Dan Crowley, a partner at K&L Gates and head of the capital markets reform group. “Risk is essential to the capital formation process. Empowering the government to reduce risk in the system will inevitably increase compliance costs and decrease investor returns.”
Oh, that nasty risk, raising its head again. After the toll in human suffering from the loss in capital value and income return, it is a rare person who can say that their wealth factor has recovered to pre 2008 conditions. So too, the government has taken a tremendous hit. The New York Times presents in their Business Day, Adding Up the Government’s Total Bailout Tab, a two year old list of additional guarantees that are part of the price of the Wall Street bailout.
“Beyond the $700 billion bailout known as TARP, which has been used to prop up banks and car companies, the government has created an array of other programs to provide support to the struggling financial system. Through April 30, the government has made commitments of about $12.2 trillion and spent $2.5 trillion — but also has collected more than $10 billion in dividends and fees. Here is an overview, organized by the role the government has assumed in each case.”
Read the entire breakdown. Wonder what Mr. Reyes over at Treasury would say to this cost to the taxpayer? Does it not seem that the math just does not add up? The next summary from the same Treasury Notes has Mr. Reyes stating.
“The federal government’s crisis response was designed to stop the panic and stabilize the financial system with a series of measures, including government guarantees, emergency financial programs, and capital investments. It succeeded in doing so.
Estimates of the potential losses at the time exceeded $1 trillion dollars. By mid-2013, with most of the emergency programs wound down and most of the funds disbursed under the Troubled Asset Relief Program (TARP) recovered, we can more realistically measure the potential losses and gains on the overall effort.”
Well, just ask anyone with a positive net worth before 2008 and inquire if they still consider themselves part of the middle class. The overview of the last five-year monetary architectural plan of providing costless money to the banksters, while starving the average worker and depleting individual investment coffers, is frightening. It is a hard sell for the Treasury. Putting a smiley face on a report, when the actual results are killing Main Street, is preposterous. Thanks Larry Summers, for designing the free rein, wheeler-dealer derivative house of cards that only partially broke in phrase one.
Just wonder what kind of improved government charts we might expect when the next government debt guaranteed bubble bursts wide open. Save the cost to the Treasury, your credit is zero.
The goon thug psychopaths no longer only brutalize minorities–it is open season on all of us –the latest victim is a petite young white mother of two small children.
The worse threat every American faces comes from his/her own government.
At the federal level the threat is a seventh war (Syria) in 12 years, leading on to the eighth and ninth (Iran and Lebanon) and then on to nuclear war with Russia and China.
The criminal psychopaths in Washington have squandered trillions of dollars on their wars, killing and dispossessing millions of Muslims while millions of American citizens have been dispossessed of their homes and careers. Now the entire social safety net is on the chopping bloc so that Washington can finance more wars.
At the state and local level every American faces brutal, armed psychopaths known as the police. The “law and order” conservatives and the “compassionate” liberals stand silent while police psychopaths brutalize children and grandmothers, murder double amputees in wheel chairs, break into the wrong homes, murder the family dogs, and terrify the occupants, pointing their automatic assault weapons in the faces of small children.
The American police perform no positive function. They pose a much larger threat to citizens than do the criminals who operate without a police badge. Americans would be safer if the police forces were abolished.
The police have been militarized and largely federalized by the Pentagon and the gestapo Homeland Security. The role of the federal government in equipping state and local police with military weapons, including tanks, and training in their use has essentially removed the police from state and local control. No matter how brutal any police officer, it is rare that any suffer more than a few months suspension, usually with full pay, while a report is concocted that clears them of any wrong doing.
In America today, police murder with impunity. All the psychopaths have to say is, “I thought his wallet was a gun,” or “we had to taser the unconscious guy we found lying on the ground, because he wouldn’t obey our commands to get up.”
There are innumerable cases of 240 pound cop psychopaths beating a 115 pound woman black and blue. Or handcuffing and carting off to jail 6 and 7 year old boys for having a dispute on the school playground.
Many Americans take solace in their erroneous belief that this only happens to minorities who they believe deserve it, but psychopaths use their unaccountable power against everyone. The American police are a brutal criminal gang free of civilian control.
Unaccountable power, which the police have, always attracts psychopaths. You are lucky if you only get bullies, but mainly police forces attract people who enjoy hurting people and tyrannizing them. To inflict harm on the public is why psychopaths join police forces.
Calling the police is a risky thing to do. Often it is the person who calls for help or some innocent person who ends up brutalized or murdered by the police. For example, on September 15 CNN reported a case of a young man who wrecked his car and went to a nearby house for help. The woman, made paranoid by the “war on crime,” imagined that she was in danger and called police. When the police arrived, the young man ran up to them, and the police shot him dead.http://www.cnn.com/2013/09/15/justice/north-carolina-police-shooting/
People who say the solution is better police training are unaware of how the police are trained. Police are trained to perceive the public as the enemy and to use maximum force. I have watched local police forces train. Two or three dozen officers will simultaneously empty their high-capacity magazines at the same target, a minimum of 300 bullets fired at one target. The purpose is to completely destroy whatever is on the receiving end of police fire.
US prosecutors seem to be the equal to police in terms of the psychopaths in their ranks. The United States, “the light unto the world,” not only has the highest percentage of its population in prison of every other country in the world, but also has the largest absolute number of people in prison. The US prison population is much larger in absolute numbers that the prison populations of China and India, countries with four times the US population.
Just try to find a prosecutor who gives a hoot about the innocence or guilt of the accused who is in his clutches. All the prosecutor cares about is his conviction rate. The higher his conviction rate, the greater his success even if every person convicted is innocent. The higher his conviction rate, the more likely he can run for public office.
Many prosecutors, such as Rudy Giuliani, target well known people so that they can gain name recognition via the names of their victims.
The American justice (sic) system serves the political ambitions of prosecutors and the murderous lusts of police psychopaths. It serves the profit motives of the privatized prisons who need high occupancy rates for their balance sheets.
But you can bet your life that the American justice (sic) system does not serve justice.
While writing this article, I googled “police brutality,” and google delivered 4,100,000 results. If a person googles “police brutality videos,” he will discover that there are more videos than could be watched in a lifetime. And these are only those acts of police brutality that are witnessed and caught on camera.
It would take thousands of pages just to compile the information available.
The facts seem to support the case that police in the US commit more crimes and acts of violence against the public than do the criminals who do not wear badges. According to the FBI crime Statistics http://www.fbi.gov/about-us/cjis/ucr/crime-in-the-u.s/2010/crime-in-the-u.s.-2010/summaryin 2010 there were 1,246,248 violent crimes committed by people without police badges. Keep in mind that the definition of violent crime can be an expansive definition. For example, simply to push someone is considered assault. If two people come to blows in an argument, both have committed assault. However, even with this expansive definition of violent crimes, police assaults are both more numerous and more dangerous, as it is usually a half dozen overweight goon thugs beating and tasering one person.
Reports of police brutality are commonplace, but hardly anything is ever done about them. For example, on September 10, AlterNet reported that Houston, Texas, police routinely beat and murder local citizens. http://www.alternet.org/investigations/cops-are-beating-unarmed-suspect-nearly-every-day-houston?akid=10911.81835.yRJa7d&rd=1&src=newsletter894783&t=9&paging=off
The threat posed to the public by police psychopaths is growing rapidly. Last July 19 the Wall Street Journal reported: “Driven by martial rhetoric and the availability of military-style equipment–from bayonets and M-16 rifles to armored personnel carriers–American police forces have often adopted a mind-set previously reserved for the battlefield. The war on drugs and, more recently, post-9/11 antiterrorism efforts have created a new figure on the US scene: the warrior cop–armed to the teeth, ready to deal harshly with targeted wrongdoers, and a growing threat to familiar American liberties.”
The Wall Street Journal, being an establishment newspaper, has to put it as nicely as possible. The bald fact is that today’s cop in body armor with assault weapons, grenades, and tanks is not there to make arrests of suspected criminals. He is there in anticipation of protests to beat down the public for exercising constitutional rights.
To suppress public protests is also the purpose of the Department of Homeland Security Police, a federal para-military police force that is a new development for the United States. No one in their right mind could possibly think that the vast militarized police have been created because of “the terrorist threat.” Terrorists are so rare that the FBI has to round up demented people and talk them into a plot so that the “terrorist threat” can be kept alive in the public’s mind.
The American public is too brainwashed to be able to defend itself. Consider the factthat cops seldom face any consequence when they murder citizens. We never hear cops called “citizen killer.” But if a citizen kills some overbearing cop bully, the media go ballistic: “Cop killer, cop killer.” The screaming doesn’t stop until the cop killer is executed.
As long as a brainwashed public continues to accept that cop lives are more precious than their own, citizens will continue to be brutalized and murdered by police psychopaths.
I can remember when the police were different. If there was a fight, the police broke it up. If it was a case of people coming to blows over a dispute, charges were not filed. If it was a clear case of assault, unless it was brutal or done with use of a weapon, the police usually left it up to the victim to file charges.
When I lived in England, the police walked their beats armed only with their billysticks.
When and why did it all go wrong? Among the collection of probable causes are the growth or urban populations, the onslaught of heavy immigration on formerly stable and predictable neighborhoods, the war on drugs, and management consultants called in to improve efficiency who focused police on quantitative results, such as the number of arrests, and away from such traditional goals as keeping the peace and investigating reported crimes.
Each step of the way accountability was removed in order to more easily apprehend criminals and drug dealers. The “war on terror” was another step, resulting in the militarization of the police.
The replacement of jury trials with plea bargains meant that police investigations ceased to be tested in court or even to support the plea, usually a fictitious crime reached by negotiation in order to obtain a guilty plea. Police learned that all prosecutors needed was a charge and that little depended on police investigations. Police work became sloppy. It was easier simply to pick up a suspect who had a record of having committed a similar crime.
As justice receded as the goal, the quality of people drawn into police work changed. Idealistic people found that their motivations were not compatible with the process, while bullies and psychopaths were attracted by largely unaccountable power.
Much of the blame can be attributed to “law and order” conservatives. Years ago when New York liberals began to observe the growing high-handed behavior of police, they called for civilian police review boards. Conservatives, such as National Review’s William F. Buckley, went berserk, claiming that any oversight over the police would hamstring the police and cause crime to explode.
The conservatives could see no threat in the police, only in an effort to hold police accountable. As far as I can tell, this is still the mindset.
What we observed in the police response to the Boston Marathon bombing suggests that the situation is irretrievable. One of the country’s largest cities and its suburbs–100 square miles–was tightly locked down with no one permitted to leave their homes, while 10,000 heavily armed police, essentially combat soldiers armed with tanks, forced their way into people’s homes, ordering them out at gunpoint. The excuse given for this unprecedented gestapo police action was a search for one wounded 19-year old kid.
That such a completely unnecessary and unconstitutional event could occur in Boston without the responsible officials being removed from office indicates that “the land of the free” no longer exists. The American population of the past, suspicious of government and jealous of its liberty, has been replaced by a brainwashed and fearful people, who are increasingly referred to as “the sheeple.”
Paul Craig Roberts was Assistant Secretary of the Treasury for Economic Policy and associate editor of the Wall Street Journal. He was columnist for Business Week, Scripps Howard News Service, and Creators Syndicate. He has had many university appointments. His internet columns have attracted a worldwide following. His latest book, The Failure of Laissez Faire Capitalism and Economic Dissolution of the West is now available. http://www.paulcraigroberts.org/
Source: Paul Craig Roberts
Washington has been at war for 12 years. According to experts such as Joseph Stiglitz and Linda Bilmes, these wars have cost Americans approximately $6 trillion, enough to keep Social Security and Medicare sound for years. All there is to show for 12 years of war is fat bank balances for the armament industries and a list of destroyed countries with millions of dead and dislocated people who never lifted a hand against the United States.
The cost paid by American troops and taxpayers is extreme. Secretary of Veteran Affairs Erik Shinseki reported in November 2009 that “more veterans have committed suicide since 2001 than we have lost on the battlefields of Iraq and Afghanistan.” Many thousands of our troops have suffered amputations and traumatic brain injuries. At the Marine Corps War College Jim Lacey calculated that the annual cost of the Afghan war was $1.5 billion for each al-Qaeda member in Afghanistan. Many US and coalition troops paid with their lives for every one al-Qaeda member killed. On no basis has the war ever made sense.
Washington’s wars have destroyed the favorable image of the United States created over the decades of the cold war. No longer the hope of mankind, the US today is viewed as a threat whose government cannot be trusted.
The wars that have left America’s reputation in tatters are the consequence of 9/11. The neoconservatives who advocate America’s hegemony over the world called for “a new Pearl Harbor” that would allow them to launch wars of conquest. Their plan for conquering the Middle East as their starting point was set out in the neoconservative “Project for the New American Century.” It was stated clearly by Commentary editor Norman Podhoretz and also by many neoconservatives.
The neocon argument boils down to a claim that history has chosen “democratic capitalism” and not Karl Marx as the future. To comply with history’s choice, the US must beef up its military and impose the American Way on the entire world.
In other words, as Claes Ryn wrote, the American neoconservatives are the “new Jacobins,” a reference to the French Revolution of 1789 that intended to overthrow aristocratic Europe and replace it with “Liberty, equality, fraternity,” but instead gave Europe a quarter century of war, death, and destruction.
Ideologies are dangerous, because they are immune to facts. Now that the United States is no longer governed by the US Constitution, but by a crazed ideology that has given rise to a domestic police state more complete than that of Communist East Germany and to a warfare state that attacks sovereign countries based on nothing but manufactured lies, we are left with the irony that Russia and China are viewed as constraints on Washington’s ability to inflict evil, death, and destruction on the world.
The two pariah states of the 20th century have become the hope of mankind in the 21st century!
As Oliver Stone and Peter Kuznick prove in their book, The Untold History of the United States, the American government has never deserved its white hat reputation. Washington has been very successful in dressing up its crimes in moralistic language and hiding them in secrecy. It is only decades after events that the truth comes out.
For example, on August 19, 1953, the democratically elected government of Iran was overthrown by a coup instigated by the US government. Sixty years after the event declassified CIA documents detail how the secret CIA operation overthrew a democratic government and imposed Washington’s puppet on the people of Iran.
The declassified documents could not have spelled it out any clearer: “The military coup that overthrew Mossadeq and his National Front cabinet was carried out under CIA direction as an act of U.S. foreign policy, conceived and approved at the highest levels of government.”http://www.cnn.com/2013/08/19/politics/cia-iran-1953-coup
In the 21st century Washington is attempting to repeat its 1953 feat of overthrowing the Iranian government, this time using the faux “green revolution” financed by Washington.
When that fails, Washington will rely on military action.
If 60 years is the time that must pass before Washington’s crimes can be acknowledged, the US government will admit the truth about September 11, 2001 on September 11, 2061. In 2013, on this 12th anniversary of 9/11, we only have 48 years to go before Washington admits the truth. Alas, the members of the 9/11 truth movement will not still be alive to receive their vindication.
But just as it has been known for decades that Washington overthrew Mossadeq,
we already know that the official story of 9/11 is hogwash.
No evidence exists that supports the government’s 9/11 story. The 9/11 Commission was a political gathering run by a neoconservative White House operative. The Commission members sat and listened to the government’s story and wrote it down. No investigation of any kind was made. One member of the Commission resigned, saying that the fix was in. After the report was published, both co-chairmen of the Commission and the legal counsel wrote books disassociating themselves from the report. The 9/11 Commission was “set up to fail,” they wrote.
NIST’s account of the structural failure of the twin towers is a computer simulation based on assumptions chosen to produce the result. NIST refuses to release its make-believe explanation for expert scrutiny. The reason is obvious. NIST’s explanation of the structural failure of the towers cannot survive scrutiny.
There are many 9/11 Truth organizations whose members are high-rise architects,
structural engineers, physicists, chemists and nano-chemists, military and civilian airline pilots, firemen and first responders, former prominent government officials, and 9/11 families. The evidence they have amassed overwhelms the feeble official account.
It has been proven conclusively that World Trade Center Building 7 fell at free fall which can only be achieved by controlled demolition that removes all resistance below to debris falling from above so that no time is lost in overcoming resistance from intact structures. NIST has acknowledged this fact, but has not changed its story.
In other words, still in America today official denial takes precedence over science and
known undisputed facts.
On this 12th anniversary of a false flag event, it is unnecessary for me to report the voluminous evidence that conclusively proves that the official story is a lie. You can read it for yourself. It is available online. You can read what the architects and engineers have to say. You can read the scientists’ reports. You can hear from the first responders who were in the WTC towers. You can read the pilots who say that the maneuvers associated with the airliner that allegedly hit the Pentagon are beyond their skills and most certainly were not performed by inexperienced pilots.
You can read David Griffin’s many books. You can watch the film produced by Richard Gage and Architects & Engineers for 9/11 truth. You can read the 9/11 Toronto Report, International Hearings on 9/11. http://www.amazon.com/9-11-Toronto-Report/dp/1478369205/ref=sr_1_1?s=books&ie=UTF8&qid=1376960447&sr=1-1&keywords=The+Toronto+Report You can read this book: http://www.international.to/index.php?option=com_content&view=article&id=9319:hijacking-americas-mind-on-911-counterfeiting-evidence&catid=66:oped&Itemid=151
Actually, you do not need any of the expert evidence to know that the US government’s story is false. As I have previously pointed out, had a few young Saudi Arabians, the alleged 9/11 hijackers, been capable of outwitting, without support from any government and intelligence service, not only the CIA and FBI, but all sixteen US intelligence services, the intelligence services of Washington’s NATO allies and Israel’s Mossad, the National Security Council, NORAD, the Joint Chiefs of Staff, Air Traffic Control, and defeat Airport Security four times in one hour on the same morning, the White House, Congress, and the media would have been demanding an investigation of how the National Security State could so totally fail.
Instead, the President of the United States and every government office fiercely resisted any investigation. It was only after a year of demands and rising pressure from the 9/11 families that the 9/11 Commission was created to bury the issue.
No one in government was held accountable for the astonishing failure. The national security state was defeated by a few rag tag Muslims with box cutters and a sick old man dying from renal failure while holed up in a cave in Afghanistan, and no heads rolled.
The total absence from the government for demands for an investigation of an event that is the greatest embarrassment to a “superpower” in world history is a complete give-away that 9/11was a false flag event. The government did not want any investigation, because the government’s cover story cannot stand investigation.
The government could rely on the mega-media corporations in whose hands the corrupt Clinton regime concentrated the US media. By supporting rather than investigating the government’s cover story, the media left the majority of Americans, who are sensitive to peer pressure, without any support for their doubts. Effectively, the American Ministry of Propaganda validated the government’s false story.
Common everyday experiences of Americans refute the government’s story. Consider, for example, self-cleaning ovens. How many American homes have them? Thirty million? More? Do you have one?
Do you know what temperature self-cleaning ovens reach? The self-cleaning cycle runs for several hours at 900 degrees Fahrenheit or 482 degrees Celsius. Does your self-cleaning oven melt at 482 degrees Celsius. No, it doesn’t. Does the very thin, one-eighth inch steel soften and your oven collapse? No, it doesn’t.
Keep that in mind while you read this: According to tests performed by NIST (National Institute of Standards and Technology), only 2% of the WTC steel tested by NIST reached temperatures as high as 250 degrees Celsius, about half the temperature reached by your self-cleaning oven. Do you believe that such low temperatures on such small areas of the WTC towers caused the massive, thick, steel columns in the towers to soften and permit the collapse of the buildings? If you do, please explain why your self-cleaning oven doesn’t weaken and collapse.
In Section E.5 of the Executive Summary in this NIST reporthttp://www.nist.gov/customcf/get_pdf.cfm?pub_id=101019 it says: “A method was developed using microscopic observations of paint cracking to determine whether steel members had experienced temperatures in excess of 250 degrees C. More than 170 areas were examined . . . Only three locations had a positive result indicating that the steel and paint may have reached temperatures in excess of 250 degrees C.” Analysis of steel “microstructures show no evidence of exposure to temperatures above 600 degrees C for any significant time.”
In section 3.6 of the NIST report http://www.nist.gov/customcf/get_pdf.cfm?pub_id=860495NIST states: “NIST believes that this collection of steel from the WTC towers is adequate for purposes of the investigation.”
How did these truths get out? My explanation is that the NIST scientists, resentful of the threat to their jobs and future employment opportunities and chaffing under the order to produce a false report, revealed the coerced deception by including information that their political masters did not understand. By stating unequivocally the actual temperatures, NIST’s scientists put the lie to the coerced report.
The melting point of steel is around 1,500 degrees C. or 2,600 degrees F. Steel can lose strength at lower temperatures, but the NIST scientists reported that only a small part of the steel was even subjected to moderate temperatures less than those obtained by the self-cleaning oven in your home.
If you need to think about this a bit more, obtain a copy of The Making of the Atomic Bomb by Richard Rhodes. Have a look at the streetcar in photo 108. The caption reads: “The Hiroshima fireball instantly raised surface temperatures within a mile of the hypocenter well above 1,000 degrees F.” Is the streetcar a melted lump of steel? No, it is structurally intact, although blackened with burnt paint.
Washington would have you believe that steel that survived intact the atomic bomb would melt from low temperature, short lived, isolated office fires. What do you think of a government that believes that you are that stupid?
Who would support a government that lies every time it opens its mouth?
The three WTC buildings that were destroyed were massive heat sinks. I doubt that
the limited, short-lived, low temperature fires in the buildings even warmed the massive steel structures to the touch.
Moreover, not a single steel column melted or deformed from softening. The columns
were severed at specific lengths by extremely high temperature charges placed on the columns.
On this 12th anniversary of 9/11, ask yourself if you really want to believe that temperatures half those reached by your self-cleaning oven caused three massive steel structures to crumble into dust.
Then ask yourself why your government thinks you are so totally stupid as to believe such a fairy tale as your government has told you about 9/11.
Source: Paul Craig Roberts
Contrary investing used to be a profitable endeavor. Things have changed. The doom business is in full swing as many financial prognosticators seek to hedge their normally ecstatic outlooks in order to sell their advice. When tragedy becomes a consensus sentiment, it used to be the time to buy. Now that formula has to factor in a different set of risks. Namely the incoherent political intrusions and stimulus-austerity gyrations has to head the list. Has forecasting become a lost art or did it evolve into an algorithm supercomputer project? In either case, the doom factor is sure to continue to be a stable from the Cassandra circle as long as an economic recovery allures the former members of the middle class.
Nevertheless, the bulls want you to believe that economic indicators are guardedly improving. The Global Economic Intersection boldly portends.
“Our September 2013 Economic Forecast shows a change of trend. Many portions of our economic model started to expand over the previous month’s baseline.
We continue to warn that consumer spending increases are expanding at a much faster pace than income – and that eventually either a jump in income or a fall in consumption must occur to close this gap. This remains an economic headwind for 3Q2013.”
Surely, equities are back in vogue as spending flows. Yet, Tom Stevenson writing in The Telegraph recommends Take forecasts with a pinch of salt…or move to Omaha, for those who have the courage to bet their money on picking particular stocks.
“The problem for investors is that very often, at the individual stock level, good news is not built into valuations for some time after it has become publicly available.
This means that contrary to markets as a whole, where it can be better to travel than to arrive, good company news can trigger sustained outperformance as investors slowly accept the improved outlook.
This might sound like a counsel of despair for investors, but it shouldn’t. Awareness of the limitations of knowledge is actually strangely liberating when it comes to managing your investments.”
Woe is me, what opportunities are missed by sitting on the sidelines? Almost moves one to subscribe to some of those pricy newsletters. But before you brush off the dust on your wallet, heed the lesson that Ian R. Campbell references when he asksEconomic forecasting – how credible?
“Frequently in this Newsletter I have said I believe that many economists wrongly advance a theoretical forecast framework based on irrelevant history when reaching conclusions on what is prospectively going to happen in any particular economy at any given point in time – and hence many economists inherently are doomed to get things wrong before they put pen to paper.”
The prediction record of most experts is dismal at best. Therefore, when Charles Colgan, former chair of Maine’s Consensus Economic Forecasting Commission is cited in On economic forecasting as a ‘forlorn hope’. He “humbly admitting he’s botched the past several annual forecasts, Colgan compared himself to Charlie Brown, ever the optimist, who repeatedly tries to kick the football being held by his friend Lucy.”
Yes, the small investor is just as dimwitted as Charlie Brown. The fate of most plays in the M A R K E T S, are sealed before they get started. In a corporatist economy, the balance sheets of companies swell, but the return on equity to stockowners often falls short.
One needs to admit, before placing funds in the hands of Wall Street money managers, that the game is speculation, not investing. Fortunes are made by knowing the insider decisions before the public is even aware of the news that a stock is in play. Even bigger sums are extracted from shorting a vulnerable public company as the vultures sense a ripe carcass.
Any thinking citizen with even a modest understanding of economics and commerce must conclude that the consumer patience is still gravely ill. Sophistication in interpreting trend forecasts is not necessary when CNNMoney provides the evidence. “The average age of vehicles on America’s roads has reached an all-time high of 11.4 years, according to the market research firm Polk. And that average age is sure to keep climbing, the firm said.”
If the financial sages deem the consumer superfluous and define a healthy economy by a growing public sector, the prospects for a doomed system are inevitable.
For those who reject this analysis and want to be informed about the latest perspective from The Economist, signup for the Global Forecasting Service. Get unrestricted access to full, updated and interactive coverage of our world economic outlook, including projections of key indicators and analysis of developed and emerging markets.
Reading such international financial establishment pronouncements usually provide a reassuring crutch even when countries are going bankrupt. Telling as it is for the spin you are meant to accept, the forecast for personal success in the investment jungle is wrath with predators of all species.
Now all this caution is moot if the global economy enters into a new golden age. Duplicating the prosperity of the industrial revolution with a cyber collection matrix that digitally spies on propitiatory business secrets is not exactly the formula that generates wealth, which is shared by the masses.
The incomparable Paul Craig Roberts is the best political and economic forecaster. In his 2011 article, How the Economy was Lost, Doomed by the Myths of Free Trade, he explains the basic reason for the doomed forthcoming financial meltdown end game.
“As the issuers of swaps were not required to reserve against them, and as there is no limit to the number of swaps, the payouts could easily exceed the net worth of the issuer.
This was the most shameful and most mindless form of speculation. Gamblers were betting hands that they could not cover. The US regulators fled their posts. The American financial institutions abandoned all integrity. As a consequence, American financial institutions and rating agencies are trusted nowhere on earth.”
This is the forecast that you can bank on.
“The European race’s last three hundred years of evolutionary progress have all come down to nothing but four words: selfishness, slaughter, shamelessness and corruption.”
It only took the rest of the world 300 years to catch on to the evil that masquerades as “western civilization,” or perhaps it only took the rise of new powers with the confidence to state the obvious. Anyone doubtful of America’s responsibility for the evil needs to read The Untold History of the United States by Oliver Stone and Peter Kuznick.
The “New American Century” proclaimed by the neoconservatives came to an abrupt end on September 6 at the G20 meeting in Russia. The leaders of most of the world’s peoples told Obama that they do not believe him and that it is a violation of international law if the US government attacks Syria without UN authorization.
Putin told the assembled world leaders that the chemical weapons attack was “a provocation on behalf of the armed insurgents in hope of the help from the outside, from the countries which supported them from day one.” In other words, Israel, Saudi Arabia, and Washington–the axis of evil.
China, India, South Africa, Brazil, Indonesia, and Argentina joined Putin in affirming that a leader who commits military aggression without the approval of the UN Security Council puts himself “outside of law.”
In other words, if you defy the world, obama, you are a war criminal.
The entire world is waiting to see if the Israel Lobby can push obama into the role of war criminal. Many are betting that Israel will prevail over the weak american president, a cipher devoid of all principle. A couple of decades ago before the advent of the american sheeple, one of the last tough Americans, Admiral Tom Moorer, Chief of Naval Operations and Chairman of the Joint Chiefs of Staff, publicly declared that “no US president can stand up to Israel.” America’s highest ranking military officer could not get an honest investigation of the Israeli attack on the USS Liberty.
We are yet to see an american president who can stand up to Israel. Or, for that matter, a Congress that can. Or a media.
The obama regime tried to counter its smashing defeat at the G20 Summit by forcing its puppet states to sign a joint statement condemning Syria. However the puppet states qualified their position by stating that they opposed military action and awaited the UN report.
Most of obama’s bought-and-paid-for “supporters” are impotent, powerless. For example obama counts the UK as a supporting country because of the personal support of the discredited UK prime minister, david cameron, despite the fact that cameron was repudiated by the British Parliament in a vote that prohibits British participation in another of Washington’s war crimes. So, although cameron cannot bring the British people and the British government with him, obama counts the UK as a supporter of obama’s attack on Syria. Clearly, this is a desperate count of “supporting countries.”
The Turkish puppet government, which has been shooting its peacefully demonstrating citizens down in the streets, with no protest from obama or the Israel Lobby, supports “holding Syria accountable,” but not itself, of course, or Washington.
The puppet states of Canada and Australia, powerless countries, neither of which carry one ounce of world influence, have lined up to do the bidding of their Washington master. The entire point of having the top government job in Canada and Australia is the payoff from Washington.
The obama cipher also claims the support of Japan and the Republic of Korea, another two countries devoid of all diplomatic influence and power of any kind. Helpless Japan is on the verge of being destroyed by the Fukushima nuclear disaster, for which it has no solution. As the radiation leaks spread into the aquifer upon which Tokyo and surrounding areas rely, Japan is faced with the possibility of having to relocate 40 million people.
Saudi Arabia, implicated in the transfer to al-Nusra rebels of the chemical weapons used in the attack, supports Washington, knowing that otherwise its tyranny is toast. Even the neoconservatives headed by obama’s shrill National Security Advisor, Susan Rice, want to overthrow the Saudis.
Obama claims also to have support from France and Germany. However both Hollande and Merkel have stated clearly that a diplomatic solution, not war, is their first choice and that the outcome rests on the UN.
As for Italy and Spain’s support, both governments are hoping to be rewarded with the Federal Reserve printing enough dollars to bail out their indebted economies so that both governments are not overthrown in the streets for their acquiescence to the looting of their countries by international banksters. Like so many Western governments, those of Italy and Spain, and, of course, Greece, support the international banksters, not their own citizens.
The president of the European Commission has declared that the European Union, the central overlord over Britain, France, Germany, Italy, and Spain, does not support a military solution to the Syrian Crisis. “The European Union is certain that the efforts should be aimed at a political settlement,” Jose Manuel Barroso told reporters at the G20 meeting. The EU has the power to issue arrest warrants for the heads of EU governments that participate in war crimes.
What this reveals is that the support behind the liar obama is feeble and limited. The ability of the Western countries to dominate international politics came to an end at the G20 meeting. The moral authority of the West is completely gone, shattered and eroded by countless lies and shameless acts of aggression based on nothing but lies and self-interests. Nothing remains of the West’s “moral authority,” which was never anything but a cover for self-interest, murder, and genocide.
The West has been destroyed by its own governments, who have told too many self-serving lies, and by its capitalist corporations, who offshored the West’s jobs and technology to China, India, Indonesia, and Brazil, depriving the Western governments of a tax base and the support of its citizens.
It is difficult to know whether citizens in the West hate their corrupt governments any less than do Muslims, whose lives and countries have been devastated by Western aggression, or than do citizens of third world countries who have been impoverished by being looted by predatory First World financial organizations.
The idiot Western governments have pissed away their clout. There is no prospect whatsoever of the neoconservative fantasy of US hegemony being exercised over Russia, China, India, Brazil, South Africa, South America, Iran. These countries can establish their own system of international payments and finance and leave the dollar standard whenever they wish. One wonders why they wait. The US dollar is being printed in unbelievable quantities and is no longer qualified to be the world reserve currency. The US dollar is on the verge of total worthlessness.
The G20 Summit made it clear that the world is no longer willing to go along with the West’s lies and murderous ways. The world has caught on to the West. Every country now understands that the bailouts offered by the West are merely mechanisms for looting the bailed-out countries and impoverishing the people.
In the 21st century Washington has treated its own citizens the way it treats citizens of third world countries. Untold trillions of dollars have been lavished on a handful of banks, while the banks threw millions of Americans out of their homes and seized any remaining assets of the broken families.
US corporations had their taxes cut to practically nothing, with few paying any taxes at all, while the corporations gave the jobs and careers of millions of Americans to the Chinese and Indians. With those jobs went US GDP, tax base, and economic power, leaving Americans with massive budget deficits, a debased currency, and bankrupt cities, such as Detroit, which once was the manufacturing powerhouse of the world.
How long before Washington shoots down its own homeless, hungry, and protesting citizens in the streets?
Washington represents Israel and a handful of powerful organized private interests. Washington represents no one else. Washington is a plague upon the American people and a plague upon the world.
Source: Paul Craig Roberts
When is a bank an appendage of state? In China, the incorporation of commercial banking under the auspice of governmental policy is virtually indistinguishable. Philosophically, any government should have control of their currency and structure the precepts of banking and lending system. Capitalist banking would command a greater pragmatic function if competition among banks was based upon free enterprise. However, under the central banking scheme governments regulate banks, but are creatures of fractional reserve debt money issued by central bank parentage. The Chinese way has included a touch of mystery when analyzed within the context of western international banking.
How did a communist economic model transform into a partner of the globalist banksters cabal? Setting the political questions aside, the business of building an economy requires the acquisition of money on a scale that most societies are unable to access. The difference in the Great Wall nation became the favorite police state pattern for the corporatists to move their manufacturing facilities that grew a trading surplus, which accrued huge sums. China alone has amassed official reserves of US$3.2 trillion.
Translate this occurrence into a banking advantage would have you believe that Forbes’ reporting is correct. Written earlier this year, Red Banks Rising: Will China Become The World’s Banker?, has a Sino banking buy spree in full motion.
“In February China’s central bank issued a three-step plan that would tear down the barriers surrounding China’s big banks. Hopes quickly emerged that China’s banks could become international players much like China’s industrial companies, providing capital to a global economy that could use it. “Chinese banks are well positioned to follow Chinese companies abroad and provide financing; the question is whether they will also provide services to foreign companies,” says Ben Simpfendorfer, a Hong Kong-based consultant. “China would benefit from exporting its cash, and the rest of the world would benefit, especially foreign buyers of Chinese goods.”
For the most part the only Chinese financial firms putting serious money to work internationally are driven by Beijing’s politics. China Development Bank, a policy institution, has done some big deals in Africa and lent $10 billion to Petroleo Brasileiro, Brazil’s state-run oil company. There have been signs, however, that China’s big commercial banks are preparing to go global, too. ICBC has been opening and buying branches from New York to the Netherlands and last year paid $600 million for assets of Standard Bank in Argentina. It is now hiring scores of bankers in Brazil. “The Chinese banks will play a larger role internationally than they have in the past,” says John Weinshank, the corporate finance chief at China Construction Bank’s New York branch, which built a $2 billion loan book in two years. “That’s the plan. I can assure you we will be expanding in the Americas over the next two years.”
A second establishment flagship publisher, The Economist presents a viewpoint that a Giant reality-check, is on the horizon, Four of the world’s biggest lenders must face some nasty truths.
“CHINA’S banks are not real banks,” says Andrew Rothman of CLSA, a broker recently acquired by China’s CITIC Securities. The country’s biggest financial institutions are so closely held by the state that they are, in effect, arms of the treasury. Cosseted by rules that protect them from competition, they deliver huge profits in good times: bank profits as a share of China’s economic output equalled nearly 3% last year, whereas the highest ratio achieved in recent decades by American banks was only 1% of GDP (in 2006). In bad times the state is there to clean up, just as it did during a surge in dud loans in 1990s.
But the bargain that has driven China’s “Big Four” banks to the top of the global league tables is breaking down. Profitable though they are now, another wave of non-performing loans will soon hit them. As the Chinese economy rebalances, the state is less willing than it was in the past to pour credit into state-owned enterprises (SOEs) at the expense of households and private firms. Mr Rothman’s epithet will not hold forever. China’s big banks are slowly becoming real institutions.”
While the Chinese banks are adapting to international commerce circumstances, the fact that Chinese yuan does not have a reserve currency function has allowed the state-controlled regime to enjoy foreign exchange benefits that other countries resent. The day is coming, when fundamental rescaling of the world banking system, will alter the way that Chinese banks operate. The accounting firm of Ernest and Young presents the following view in a report, Challenges for central banks: wider powers, greater restraints.
“Emerging countries’ greater importance to the world economy has generated criticism of Western monetary policy and led to calls for some kind of international monetary reform. One of the strongest proponents of such reform is China. On the one hand, the capital restrictions and the state-controlled finance system enabled the Chinese authorities to partly shield the country from the worst effects of the financial crisis in 2008 and 2009 and to engineer a remarkable, if inflationary, stimulus. On the other hand, these same factors mean that China, in the words of Jin Liqun, Chairman of the Supervisory Board of China’s sovereign fund, China Investment Corporation, is the only one of the six biggest world economies that does not have its own international currency.”
Having it their way, while everyone else is shackled to floating currency convertibility, means that China’s state protecting racket will break down if a reserve currency role is eventually implemented. Since at this stage it is impossible to separate state control from business risk lending, the future of the top ten Chinese Banks are dependent upon the way the financial community navigates within the treacherous waters of the China Sea.
If the prototype of Chinese banking, with a reciprocal relation under the wing of state direction forecasts international banking, just what will the banksters do with the loss of their preeminence. If the past is a reliable gauge, bidding against the moneychangers is a tall order.
Syria & America exchange messages as both peoples breathe more easily….for now…
Damascus — The morning following President Obama’s announcement he would not bomb Syria immediately, the streets of Damascus were packed with shoppers and employees heading to their jobs. Several reasons for this were mentioned by my friend, Eyman. Some Damascenes who had fled their homes last week had returned, and a palpable sense of at least temporary relief pervades much of this capital city. It is also the first of the month. In Syria, government and other employees have just received their monthly paychecks and need to stock up on food, particularly now, upon entering this most uncertain month.
Adding to the uncertainty are people’s plans for the immediate future. Many of those who fled and returned following Obama’s deferral to Congress, are planning to leave again before next weekend’s possible attack. Others, due to conditions for refugees they discovered in Lebanon, have decided to stay, essentially playing a game of Russian roulette with death as they await their fates in their beloved Syria.
At any rate, in Damascus this morning citizens can be seen scurrying to workplaces, feeling safe enough, at least for now, to go grocery shopping and do errands. Even the gunmen who man electronic ‘frisking” equipment just outside my hotel, and who search all wishing to enter, seem genuinely relieved, happy and unusually friendly, as do the army troops on downtown Damascus streets. Friends in Damascus, both in government and private citizens, talk of an “uncertain relief” since last Sunday night, though it is a relief combined with an awareness that a terrible event of some sort may be on the way. Still others, aware of what seems to be increasing opposition to military action amongst the American public, think the attack may be delayed again. Perhaps most surprisingly, local news outlets are reporting this morning on the results of a new poll showing that 60 percent of the Syrian people think the US will not attack at all. As for the Syrian government, it has been nearly mute internationally, not wanting to provoke the White House, while at the same time assuring the public here that Syria can face all challenges and that history and God are with its people.
The weather here has changed since my visit last month. While the days will stay oppressively hot for another month, the early mornings have turned cool with refreshing soft breezes. Doves and pigeons in the park opposite the National Museum on Beirut Street coo and enjoy the large green space next to the Four Seasons Hotel, the same hotel which the UN CW investigators just vacated as they prepare their report for UN Secretary General Ban Ki-Moon.
Given that an American attack, should one occur, may well open the gates of hell, this observer is constantly amazed by the mundane, everyday things one is still able to observe around here. For example, last Friday afternoon I watched transfixed from a park bench as two public works employees weeded a few errant dandelions and weeds that had dared invade a beautiful manicured garden-park in downtown Damascus. This struck me as a bit bizarre, given the then widely-held belief that a US missile blitz might light up Damascus that very evening. On the scale of things these days, I doubted that a few weeds sprouting in a city park were of great import. Or were they? Perhaps carrying out one’s individual duty and work assignment these days is a wholly interconnected part of the nation’s overall resistance to foreign invasions, and is congruent somehow to what seems to be a pervading attitude—of people wanting to carry on with, or at least simulate, their pre-crisis lives and routines, their accustomed simple pleasures. And so maybe weeding gardens in Damascus makes perfect sense these days.
A Palestinian family from Latakia refugee camp up north who had fled their homes last December, joining thousands who have come to Damascus seeking safety, were visiting with me this morning. When I asked how their beautiful three and five year old children were adjusting to the crisis atmosphere in their new surroundings, the mother replied, “When the bombing started over a year ago the children could not sleep well because they were frightened by the loud noise. But over time they got used to it and slept fine. But last night they could not sleep because there was no shelling and it was too quiet for them. So what are we to do”? And she laughed.
It is true that there was no shelling and bombing here in Damascus during the night of Sunday, September 1, which the lady was referring to. And this fact is significant. Informed sources report to this observer that the government decision not to bomb the suburbs including East Gouta, which normally occurs nightly, was taken at the highest level in order to send a reply message from Syria to America and personally to President Obama. The latter’s speech, just hours earlier in Washington, contained several messages for the leadership in Damascus. What the Syrian government was signaling, some claim, was its willingness to join Tehran, Moscow and Washington in finding a peaceful solution to Syria’s crisis, starting with Geneva II.
Meanwhile, the ever-rising cost of living for Syria’s population, due in large measure to the US-led economic sanctions, continues to devastate many families here. Those sanctions are designed by the US Treasury Department’s Office of Financial Assets Control (OFAC), and they intentionally target Syria’s civilian population in an effort to get the population to break with its government, thereby facilitating the US goal of regime change in Syria and Iran. This observer, with two student friends, yesterday visited a government owned supermarket called “Marazaa Government Supermarket”—one of approximately one hundred government-operated grocery stores in central Damascus. We compared prices by also visiting the privately owned “Supermarket Day by Day” in the Sabah Bahar neighborhood, also in central Damascus, and found that government-owned grocery stores average 5-15 percent lower prices, depending upon the item. The private grocery chains tend to be frequented by those with more money and who might seek European products and a wider product selection. Government stores, on the other hand, sell only Syrian products.
Bread was being rationed last week in government bakeries. At least one such bakery exists in every neighborhood, and a citizen is currently allowed to purchase one plastic bag with 22 loaves per day. The government plastic bag weighs three kilos (roughly 6.5 pounds) and sells for 50 Syrian lire or a bit less than USD 25 cents. This quantity, I am advised by a super market store manager, normally feeds a family of at least three for one day given that the average bread staple consumption in Syria is three loaves per person per day. Normally, even during this 30 month crisis, a citizen could purchase as much as they desired from government stores, but the American attack threat has caused yet more market complications in Syria for the average citizens.
In private bakeries, severe inflation has hit, and just seven loaves of bread, which would feed two persons for one day, now costs 150 lire or approximately 75 cents. Despite the wide price differential (the government shops have not raised their prices since the regime of Hafez al-Assad), many people are shopping at the private shops because it can take five or more hours waiting in line at the government bread shops.
Before the onset of the conflict now raging in Syria, the price of eggs was 125 lira (about 25 cents) for 24 in a carton. Prior to the most recent crisis, the price was 500 lira (one us dollar) for two dozen eggs, and this morning in Damascus it is 700 lira.
In seeking to end this crisis, Syria is fortunate to have tough and resolute allies including Russia and Iran and, perhaps equally important, a skilled diplomatic corps and group of officials who have exhibited remarkable acumen and insight as well as nerves of steel—both during the crisis as a whole and especially over the past several days of brinkmanship. This observer has had the honor to meet with a few of them personally. These include Foreign Minister Walid Muallem and his Deputy Foreign Minister Faisal Mekdad, Information Minister Omran Zoubi and his able staff, Presidential Adviser Dr. Bouthania Shaaban, and her dedicated office colleagues, and Parliament Speaker Mohammad Jihad al-Laham.
In this observer’s view, many Syrians, perhaps a majority, do not believe that President Obama, Defense Secretary Hagel, Joint Chiefs of Staff Chairman Martin Dempsey, or a growing number of members of Congress, and most importantly the American public, want war. Some here are thinking, wishfully perhaps, that without a strong Congressional vote in favor of the Obama request, the president will not order a criminal attack Syria’s civilian population, for if there is a US attack, that is assuredly what it will be.
Surprisingly perhaps, Obama is being praised by some for his courage in not caving to the neocons and Zionist lobby by ordering the US military to begin bombing promptly. As one Syrian journalist told this observer just hours ago, “Obama still has the opportunity to earn that Nobel Prize, which he received a few years back for I have no idea why, and secure his legacy as one of American’s great Presidents—if he has the courage and vision of the late Dr. Martin Luther King.”
Before ending a very long day with sleep, this observer invited the Palestinian family to dinner near my hotel as it was not apparent that they had been eating much recently. We talked about prospects for the Syrian Arab Republic, and Palestinian refugees, so many of whom have been internally and externally displaced as result of this maelstrom, and as I interacted with the wonderful children, I could not help becoming wistful as I contemplated the certainty that it is these children, and Syria’s poor, who are condemned, unless the American people prevent it, to suffer the brunt of this latest US adventure—condemned as their country becomes more divided, and a new batch of terrorist groups springs up like mushrooms after a summer rain.
Washington’s ill-considered criminal attack will aid and abet these largely Gulf financed militia and provide justification, in their minds for literally hundreds of often competing jihadist groups to spread carnage across Syria. The innocent in the USA and the West will also eventually suffer a severe pay back price as was the case on 9/11/2001 and a decade later on 9/11/2011. And on and on it goes.
This observers is frequently asked these days, as the bombs and rockets hit ever nearer, if the American people have the political and moral will to take to the streets, and to the offices of their Congressional representatives whose salaries they pay, and make history—a history that will revitalize our county and its claimed democracy. Each American, and all people of good will, have the power to do this service to humanity.
And they can do it in the coming days. If they fail, who do we blame but ourselves? Because when it comes down to it, it’s our country; it doesn’t belong to the politicians or the corporations or to those who pledge fealty to a foreign occupying power half a world away. It is our constitution, and if each of us doesn’t protect it we cede it to others to sully and use as they will.