What is going to happen when the greatest economic bubble in the history of the world pops? Themainstream media never talks about that. They are much too busy covering the latest dogfights in Washington and what Justin Bieber has been up to. And most Americans seem to think that if the Dow keeps setting new all-time highs that everything must be okay. Sadly, that is not the case at all. Right now, the U.S. economy is exhibiting all of the classic symptoms of a bubble economy. You can see this when you step back and take a longer-term view of things. Over the past decade, we have added more than 10 trillion dollars to the national debt. But most Americans have shown very little concern as the balance on our national credit card has soared from 6 trillion dollars to nearly 17 trillion dollars. Meanwhile, Wall Street has been transformed into the biggest casino on the planet, and much of the new money that the Federal Reserve has been recklessly printing up has gone into stocks. But the Dow does not keep setting new records because the underlying economic fundamentals are good. Rather, the reckless euphoria that we are seeing in the financial markets right now reminds me very much of 1929. Margin debt is absolutely soaring, and every time that happens a crash rapidly follows. But this time when a crash happens it could very well be unlike anything that we have ever seen before. The top 25 U.S. banks havemore than 212 trillion dollars of exposure to derivatives combined, and when that house of cards comes crashing down there is no way that anyone will be able to prop it back up. After all, U.S. GDP for an entire year is only a bit more than 15 trillion dollars.
But most Americans are only focused on the short-term because the mainstream media is only focused on the short-term. Things are good this week and things were good last week, so there is nothing to worry about, right?
Unfortunately, economic reality is not going to change even if all of us try to ignore it. Those that are willing to take an honest look at what is coming down the road are very troubled. For example, Bill Gross of PIMCO says that his firm sees “bubbles everywhere”…
We see bubbles everywhere, and that is not to be dramatic and not to suggest they will pop immediately. I just suggested in the bond market with a bubble in treasuries and bubble in narrow credit spreads and high-yield prices, that perhaps there is a significant distortion there. Having said that, it suggests that as long as the FED and Bank of Japan and other Central Banks keep writing checks and do not withdraw, then the bubble can be supported as in blowing bubbles. They are blowing bubbles. When that stops there will be repercussions.
And unfortunately, it is not just the United States that has a bubble economy. In fact, the gigantic financial bubble over in Japan may burst before our own financial bubble does. The following is from a recent article by Graham Summers…
First and foremost, Japan is the second largest bond market in the world. If Japan’s sovereign bonds continue to fall, pushing rates higher, then there has been a tectonic shift in the global financial system. Remember the impact that Greece had on asset prices? Greece’s bond market is less than 3% of Japan’s in size.
For multiple decades, Japanese bonds have been considered “risk free.” As a result of this, investors have been willing to lend money to Japan at extremely low rates. This has allowed Japan’s economy, the second largest in the world, to putter along marginally.
So if Japanese bonds begin to implode, this means that:
1) The second largest bond market in the world is entering a bear market (along with commensurate liquidations and redemptions by institutional investors around the globe).
2) The second largest economy in the world will collapse (along with the impact on global exports).
Both of these are truly epic problems for the financial system.
And of course the entire global financial system is a giant bundle of debt, risk and leverage at this point. We have never seen anything like this in world history. When you step back and take a good, hard look at the numbers, they truly are staggering. The following statistics are from one of my previous articles entitled “Why Is The World Economy Doomed? The Global Financial Pyramid Scheme By The Numbers“…
-$70,000,000,000,000 - The approximate size of total world GDP.
-$190,000,000,000,000 - The approximate size of the total amount of debt in the entire world. It has nearly doubled in size over the past decade.
-$212,525,587,000,000 - According to the U.S. government, this is the notional value of the derivatives that are being held by the top 25 banks in the United States. But those banks only have total assets of about 8.9 trillion dollars combined. In other words, the exposure of our largest banks to derivatives outweighs their total assets by a ratio of about 24 to 1.
-$600,000,000,000,000 to $1,500,000,000,000,000 - The estimates of the total notional value of all global derivatives generally fall within this range. At the high end of the range, the ratio of derivatives to global GDP is more than 21 to 1.
The financial meltdown that happened back in 2008 should have been a wake up call for the nations of the world. They should have corrected the mistakes that happened so that nothing like that would ever happen again. Unfortunately, nothing was fixed. Instead, our politicians and the central bankers became obsessed with reinflating the system. They piled up even more debt, recklessly printed tons of money and kicked the can down the road for a few years. In the process, they made our long-term problems even worse. The following is a recent quote from John Williams of shadowstats.com…
The economic and systemic solvency crises of the last eight years continue. There never was an actual recovery following the economic downturn that began in 2006 and collapsed into 2008 and 2009. What followed was a protracted period of business stagnation that began to turn down anew in second- and third-quarter 2012. The official recovery seen in GDP has been a statistical illusion generated by the use of understated inflation in calculating key economic series (see Public Comment on Inflation). Nonetheless, given the nature of official reporting, the renewed downturn likely will gain recognition as the second-dip in a double- or multiple-dip recession.
What continues to unfold in the systemic and economic crises is just an ongoing part of the 2008 turmoil. All the extraordinary actions and interventions bought a little time, but they did not resolve the various crises. That the crises continue can be seen in deteriorating economic activity and in the panicked actions by the Federal Reserve, where it proactively is monetizing U.S. Treasury debt at a pace suggestive of a Treasury that is unable to borrow otherwise.
And there are already lots of signs that the next economic downturn is rapidly approaching.
For example, corporate revenues are falling at Wal-Mart, Proctor and Gamble, Starbucks, AT&T, Safeway, American Express and IBM.
Would revenues at Wal-Mart be falling if the economy was getting better?
U.S. jobless claims hit a six week high last week. We aren’t in the danger zone yet, but once they hit 400,000 that will be a major red flag.
And even though we are still in the “good times” relatively speaking, the federal government is already talking about tightening welfare programs. In fact, there are proposals in Congress right now to make significant cuts to the food stamp program.
If food stamps and other welfare programs get cut, that is going to make a lot of people very, very angry. And that anger and frustration will get even worse when the next economic downturn strikes and millions of people start losing their jobs and their homes.
What we are witnessing right now is the calm before the storm. Let us hope that it lasts for as long as possible so that we can have more time to prepare.
Unfortunately, this bubble of false hope will not last forever. At some point it will end, and then the pain will begin.
Source: The Economic Collapse
One would be hard-pressed to select the most corrupt Presidential administration in US history. Over time, both Democrat and Republican administrations have a track record littered with all kinds of corruption, scandal, malfeasance, dishonesty, and unconstitutional conduct. Out of all of them, only two Presidents have been impeached: Andrew Johnson and Bill Clinton, both Democrats. Neither of them were convicted of the charges and removed from office. A third President, Republican Richard Nixon, would almost certainly have been impeached had he not resigned first.
Andrew Johnson’s impeachment was doubtless the most politically-motivated impeachment of a President in US history. He was impeached by radical Republicans who were angry at Johnson’s mild and temperate approach to reconstruction after the assassination of Abraham Lincoln and surrender of Southern forces. Specifically, Johnson was impeached for violating the Tenure of Office Act in 1867, which forbade the President from dismissing office holders without the Senate’s approval. The Act was ruled unconstitutional in 1926.
Bill Clinton’s impeachment was based on four charges: grand jury perjury, civil suit perjury, obstruction of justice, and abuse of power. There seems little doubt that Clinton was guilty of the charges, but a timid GOP Senate leadership had no stomach to be the first Congress in US history to convict and remove a sitting President from office.
Charges that would have been brought against Richard Nixon had he not resigned, included illegal wiretapping, misuse of the CIA, perjury, bribery, and obstruction of justice.
However, the truth of the matter is if every President who deserved to be impeached and removed from office had been indeed impeached and removed from office, it would have included a good number of them. In my humble opinion, that list would have included Woodrow Wilson, Franklin D. Roosevelt, Lyndon B. Johnson, and G.W. Bush–and now Barack Obama.
Never mind the fact that had the media and congressional leaders objectively and thoroughly examined Obama’s birth certificate, it would have been easily proven that the documents were forged and that he was totally unqualified to be President of the United States. But setting that aside, the scandals of this White House certainly rise to the level of the US Constitution’s grounds for impeachment, which is “treason, bribery, or other high crimes and misdemeanors.”
Here is a list of the Obama White House scandals which is publicly known:
*The “Fast and Furious” gun-running operation, whereby federal government agencies deliberately and willfully supplied untold numbers of firearms to known Mexican drug-traffickers, which led to the death of at least one Border Patrol agent.
*Using the IRS as a political weapon against conservative groups.
Now, if one thinks that Obama invented this diabolical tool, one is sadly mistaken. Ron Paul recently noted that the IRS has been used as a strong-armed bully to harass and intimate political opponents under several Presidential administrations, including the Kennedy, Nixon, Clinton, and G.W. Bush administrations.
The Washington Times quotes Dr. Paul as saying, “‘The bipartisan tradition of using the IRS as a tool to harass political opponents suggests that the problem is deeper than just a few “rogue” IRS agents–or even corruption within one, two, three or many administrations,’ Dr. Paul writes in his weekly column, Texas Straight Talk. ‘Instead, the problem [lies] in the extraordinary power the tax system grants the IRS.’
“The libertarian and tea party hero goes on to argue that the power of the IRS can only be countered with a complete overhaul to the country’s tax system.”
See the Washington Times report here:
Amen, Dr. Paul!
Barack Obama is only the latest President who is known to have used the power of the IRS as an abusive force against political opponents.
*The stand-down of military troops and cover-up of the attacks by Muslim extremists against the US consulate in Benghazi, Libya.
The Obama administration doesn’t want the American public to know that the US was using the Benghazi annex to store and supply weapons to Syrian jihadists and that it was competing Muslim extremists who stole the arms stored there. And, of course, there is the burning question as to why American forces were ordered to stand-down and not interfere with the attack which led to the deaths of the US Ambassador and three other Americans that has not been answered.
Obviously, many US Presidents have used duplicity, deceit, and chicanery to hide the truth of US foreign entanglements from the American people in order to accomplish a personal or political agenda. Johnson did it in Vietnam; George H.W. Bush did it in Kuwait; and G.W. Bush did it in Iraq. Now Barack Obama is following suit in Libya, Syria, and elsewhere.
*Associated Press telephone records seized without a warrant.
Suddenly now, the media is alarmed to discover that their darling Barack Obama has actually turned the monster of oppressive government against THEM. Egad! As long as the federal government is only illegally spying on average-Joe American, the media is nonchalant and unconcerned. However, now that it has been discovered that the federal government is spying on the members of the media, they are enraged–well, somewhat enraged.
Hey folks! When it comes to the all-time champion of using the power of the federal government to spy on Americans, G.W. Bush, not Barack Obama, takes the blue ribbon. Everything that Obama is now using to spy on reporters and average citizens was taken from the blueprint designed by G.W. Bush. It was Bush who championed the Patriot Act; it was Bush who championed the Military Commissions Act; it was Bush who championed the Department of Homeland Security; and it was Bush (and now Obama) who championed the NDAA.
But now that the federal government has specifically targeted members of the media in its illegal spying activities, media talking-heads are aghast. Even Mr. Big Government, himself, Piers Morgan, is publicly re-thinking his rabid gun-control agenda. Morgan recently said this:
“Though I was appalled by the media’s relentless and shameless push last month to pass the Toomey-Manchin bill that would have tightened background checks, I did support its passage, and said so many times while criticizing the media for their disgusting behavior. But this chilling reminder of how corrupt the federal government is has changed my mind completely.”
See the report here:
Now all of a sudden, anti-gun Piers Morgan says that gun-rights advocates who refuse to surrender their firearms because they distrust the federal government are NOT crazy after all. Amazing!
*Sexual assaults in the military.
This scandal received public notoriety when two military officers were discovered sexually abusing female subordinates after having been put in positions of authority assigned with the duty of PREVENTING those very crimes. Of course, Barack Obama feigned total shock and disgust at the revelation.
Noted researcher and investigative analyst, Joel Skousen, covered this story in his last World Affairs Brief. Skousen quotes Senator Kirsten Gillibrand (D-NY) as saying, “We have arguably 26,000 [sexual] assaults a year, but only about 3,000 are even reported, and only a handful go to trial and result in conviction.”
Of course, the problem of sexual assault in the military is not a new one. It has gradually been getting worse as Presidential administrations (from both major parties) insisted on putting women in close-quarters with men on ships, as well as in ground units. But Barack Obama has exacerbated the problem even further by putting women in combat units.
To subscribe to Joel Skousen’s World Affairs Brief, go here:
Yes, folks, Obama’s campaign for change has turned out to be nothing more than business as usual. If the Obama Presidency is not the most corrupt in American history, it is surely one of the most corrupt.
Perhaps, the most honest man in recent memory to run as a major party candidate for President of the United States was Republican Congressman Ron Paul; but I guess honesty is not a qualification which most people desire anymore. So, we are left with the likes of G.W. Bush and Barack Obama. One would think that sooner or later the American people would tire of all of these scandalous shysters and want to elect an honest man. One would think.
The foundation of the Soviet model of trade and investment was centralization under the guise of “universal public ownership”. The entire goal of communism in general was not to give more social and political power to the people, but to extinguish alternative options and focus power into the hands of a select few. The process used to reach this end result can vary, but the goal always remains the same. In most cases, such centralization begins with economic hegemony, and it is in our fiscal structure that we have the means to see the future. Sovietization in our financial life will inevitably lead to sovietization in our political life.
Does the U.S. economy’s path resemble the Soviet template exactly? No. And I’m sure the very suggestion will make the average unaware free market evangelical froth at the mouth. However, as I plan to show, the parallels in our fundamentals are disturbing; the reality is that true free markets in America died a long time ago.
The Tyranny Of Planned Economy
The characteristics of a free market society defy the use of centralized planning. Adam Smith’s original concept of free market trade stood as an antithesis to what was then referred to as “mercantilism,” a select few “joint stock companies” (corporations) monopolizing production while using government ties to destroy any new competition. Unfortunately, there are to this day economists and politicians who believe that corporate centralization is a “natural” function of a free market. In reality, corporate monopolies are an unnatural creation of collusion between governments and big-money interests designed to suffocate any entrepreneurship outside of their sphere of influence. Over time, as we now see in the United States today, government power and corporate power begin to hybridize, until one can barely be distinguished from the other.
The bottom line is that you cannot have planned structures, monopolized production or controlled capital flow within an economy and still claim it to be a “free market. There are no exceptions to this rule.
The Soviet system was the ultimate in centralization. Every aspect of financial life was dictated by the communist government, from industrial input and output to investment to food production and rationing to wages and retail prices. Some people might argue that this structure is a far cry from what we now have in the United States, but let’s look at the fundamentals.
Controlled Money Creation
One of the primary tenets of The Communist Manifesto was the creation of a central bank meant to keep tight controls over currency issuance. The existence of a central bank immediately disrupts any chance of a true free market. Central banking without competition allows an oligarchy, whether corporate or political or a meshing of the two, to manipulate interest rates as well as adjust prices through inflation. Lending standards (which the central bank determines arbitrarily) built on fractional reserve banking opens the door to murky debt instruments and toxic financial products that are further used to either fabricate a “high” standard of living (as we saw in the U.S. in the 90s and early 2000s) or execute a bubble implosion causing a lower standard of living (as the U.S. is experiencing today).
Since the establishment of the Federal Reserve through subversive collusion between banking interests and corrupt politicians in 1913, America has not had a free market system. From that point forward, every boom and bust, every interest rate disaster, every inflationary increase in prices has been scientifically engineered.
Dominance Of Industry
Soviet controls on industrial output are legendary. Every part of the resource allocation process became subject to bureaucracy, and this led to stunted manufacturing growth as well as a culture of misrepresented economic data. In the United States, the establishment has taken a slightly different approach but with the same end result.
Heavy taxation on business ventures within the U.S. against entrepreneurs not lucky enough to run in elitists circles has erased incentives for manufacturing experiments within our borders. In the meantime, members of the corporate glee club receive government subsidization while they simultaneously outsource industrial projects to Third World nations. Controlled industry within communist Russia was meant to force the population to depend upon the government for every means of survival. In the United States, dependency on government has been replaced by interdependency on the globalized model in general. Necessities are now compartmentalized, and only select international businesses with cooperation from government have the ability to bring all the pieces together to keep our domestic economy running smoothly. Our society has been so distanced from self-sufficiency that many people now consider the globalist dynamic indispensable.
The next step in this degradation of free market industry is the introduction of “public works projects” by the federal government, which gives the illusion that job creation through centralization is possible. This is the same strategy used in the Soviet Union and to this day, socialists still argue that the communist design for industrial expansion was “effective”. In truth, the soviet public works plan with all its trains and transits and bridges and buildings was an absolute failure, as the collapse of the country made clear. Tax funded infrastructure is no replacement for free market invention, and at bottom, no public works enterprise can be undertaken without the government first stealing capital from one area in order to fund another. Governments can never and will never create wealth or jobs. They can only present the semblance of economic progress while siphoning wealth away from private citizens.
Bureaucracy And Food Production
U.S. Environmental Protection Agency and U.S. Food and Drug Administration regulations, based on dubious junk science and often instituted on high without congressional oversight, further erode business possibilities, especially for young companies as well as private agriculture, while giving free reign to elitist entities like Monsanto, an organization the government actually PROTECTS through specialized legislation making it nearly immune to civil litigation.
While farms in the United States are not exactly “controlled” by the Federal government in the Soviet sense, many of them are subsidized through welfare on the condition that they grow only particular kinds of crops, raise particular animals or grow nothing at all. This subsidization is an indirect form of price control, creating engineered scarcity or abundance. At the same time, agricultural empires like Monsanto make private farm ownership increasingly difficult by using their government protection to harass and squeeze out independent food producers.
This destabilization of private resource management by common citizens has culminated in the passage of President Barack Obama’s executive order National Defense Resource Preparedness, which allows under a “national emergency” (which the President can declare for any reason) the confiscation of any and all private resources, including farms and businesses, to be redistributed by the government to ensure security conditions. This is the Stalinist model, pure and simple.
Centralized Control Of Investment
We now know that since at least 2008, the U.S. stock market, often presented by the mainstream as a paragon of free market prowess, has actually been propped up and inflated by Federal Reserve fiat. Both former Fed Chairman Alan Greenspan and current branch head Richard Fisher have openly admitted in separate news interviews that the central bank spends considerable energy in “artificially sustaining” equity markets. This has been done, I suspect, with full knowledge of the U.S. Treasury and the Obama Administration.
The Soviet model for investment was to remove all uncertainties from their domestic markets, often in the name of preventing manipulation by “speculators.” The speculator rationale was generally a distraction away from the attempt to dictate the natural forces of supply and demand. The idea was that if the government could dismiss legitimate demand or lack of demand or hide excess supply or lack of supply, the perception of a balanced economy could be conjured for the population. This led to strict redirection of capital to areas where manipulation was needed to artificially pump up (or deflate) a particular part of the economy. The government became the sole investor of the Soviet system and, thus, the sole determinant of the success or failure of any particular market.
This is EXACTLY what is going on in America today, in what mainstream economists now call “the new normal”. Federal Reserve fiat is being printed and dumped into every financial mechanism that supposedly maintains our country’s fiscal health, including stocks, Treasuries and municipals, while trade volume remains low and private investment disappears. The Federal government now owes its very existence to the continued support of central bank dollars, and the Dow Jones does as well. If this is not the Soviet ideal, then I don’t know what is.
Labor Oppression, Dismal Living Standards And Government Dependency
Poverty levels within the United States are at record highs. Nearly 50 million Americans are now dependent on government-subsidized food stamps for their survival. Nearly 100 million Americans receive welfare (or Social Security) in one form or another from the establishment. That is almost one-third of our entire population that relies on the system for at least a part of their sustainment. If Obamacare is fully realized, millions more Americans will also be conditioned to become dependent on government-designated healthcare providers. The point is not to pass judgment on those people who get money or services from the government, only to make clear our progression away from freedom and into centralized servitude.
For a Soviet structure to thrive, poverty among common citizens has to be institutionalized. Dependency requires a constant state of desperation. In America, this has been accomplished through a combination of inflated prices and reduced wages in conjunction with the destruction of labor options.
At the height of the communist machine in Russia, employment was ample; but the kind of employment one could apply for was dependent on bureaucratic red tape and availability based on a worker’s record. Only the academic “elite” within the government-run cesspools of Soviet universities and military schools had their choice of employment; even then, they were often pressured into particular specialized fields, depending on the kind of labor the state needed done at that particular time.
In the United States anyone can certainly aspire to do whatever job he hopes to do. But again, options have been removed economically; and the same academic elitism pervasive in Soviet Union labor markets exists in America today. In a recent installment of his weekly radio show,New York Mayor Michael Bloomberg said it was better for “so-so” high school students to pursue a career in plumbing rather than go to college.
Though I rarely agree with Bloomberg on anything, my initial reaction was surprise at his willingness to steer American youth away from university indoctrination centers. However, upon further examination, it became clear that Bloomberg was not trying to save the next generation time and money. Instead, he is promoting a shift in the labor dynamic of the U.S. economy toward a Soviet-style foundation. Bloomberg knows well that the U.S. labor market will never return to its former glory, partly because he is a supporter of the globalist policies that ruined our economy in the first place. Instead of suggesting ways to reverse the trend of progressive poverty and the lack of high-end jobs that engender ingenuity and invention, elitists like Bloomberg are saying “forget your dreams and get used to being a drone.”
In a 70% service and retail economy, where job availability is increasingly degraded and independent business is discouraged, Americans will have two choices: Excel in the world of federally funded and propagandized education and sell your soul just for a chance at obtaining a professional career in a field of influence, or, settle for the leftovers. Modern socialists often sing the praises of the soviet educational model for raising the literacy rates of once agricultural and isolated people to 98%, but what they fail to mention is that this literacy was only encouraged in order to create a more efficient servant class that was easier to propagandize. The U.S. is moving into a similar paradigm. For some people, being a plumber is a fine thing; but it should not be the only thing. In a true free market, a smart man can make his own way, even if he does not conform to the ideologies of the educational racket. In a Sovietized market, a smart man is prohibited from accomplishing anything unless he conforms to the ideologies of the educational racket.
Some people may respond that the centralization conspiracy within the American economy is an obvious thing today, and that there is little need to expose it any further. I would point out that centralization is not the only issue here; the guidebook by which that centralization is being implemented is also important. This has all been done before on the other side of the world only decades ago, and the end result was a horrifying cascade of social enslavement and mechanically inclined death.
In the end, the Soviet economy was so utterly fraudulent that the final breakdown of the system came as a complete surprise to many in political and economic fields of the era. This is what happens when governments control all source data for financial statistics; transparency dies and collapse creeps in. Centralization is an absolute affront to the natural laws of supply and demand and an oppressive hindrance to the innovation that humanity thrives on. Such systems require constant theft from the populace in the form of reduced employment, reduced wages, reduced resources, increased taxes, increased price controls and a highly ignorant citizenry in order to function even for a short time. Sadly, the United States is well on its way in all of these areas, emulating a poisonous fiscal system and lending itself to a global economic tyranny in which all of us work much harder, for much less, and all for a government that seeks to use our very labor against us.
Source: Brandon Smith | Alt-Market
Lois Lerner, head of the IRS division that oversees tax-exempt filings, will take the Fifth in front of Congress tomorrow.
She won’t answer questions. She won’t say, for example, why she never informed Congress that she knew there was criminal fiddling going on at the IRS, where employees “gave extra scrutiny” to tea party, conservative, patriot, and other groups during the application process.
Instead, as the DOJ launches a criminal investigation, Lerner will tell the House Oversight Committee, “I decline to answer. I invoke my Fifth Amendment right.” Multiple times she will say this.
Meaning: “If I answer, I could incriminate myself.”
Her lawyer, William Taylor, has asked the Committee to excuse Lerner from testifying tomorrow, Wednesday, since she won’t be answering questions. Taylor wrote to the House Committee, “[Forcing her to testify would] have no other purpose other than to embarrass or burden her.”
Tsk, tsk. Mustn’t embarrass a person who has committed crimes. Be nice. Be kind. Yes, Lois Lerner failed to tell the Committee anything about IRS crimes, when she testified four times last year, but so what? Give her a break. Goodness gracious, don’t put her through an ordeal.
Somehow, Lerner’s lawyer’s logic doesn’t stand up. But he’s a lawyer, so that’s no surprise.
Then there was this: a presidential election last year. 2012? Obama? Remember?
If Lois Lerner had blown the whistle then, and the full-blown scandal that’s erupting now had occurred before the election, who knows who would have won the presidency.
Lois was obviously protecting a president running to win a second term. She’s “pre-taking” the Fifth now and hoping she won’t have to appear before the Committee tomorrow, so the Obama administration won’t have to risk hearing a Congressman ask, WERE YOU PROTECTING THE PRESIDENT FROM SCANDAL IN AN ELECTION YEAR?
WERE YOU LYING SO OBAMA COULD WIN REELECTION?
We get it, Lois. We get what you’re up to.
If you do stand before the Committee tomorrow, why don’t you just say, “I refuse to answer on the grounds that I would cast doubt on the 2012 presidential election and the president.” Come out with it.
One question, though. Are you sure the president you’re protecting isn’t named George Bush? Because this sounds a lot like what Bush’s people were doing all those years.
Am I dreaming here? This is the Obama administration, right? The presidency that was supposed to be transparent and good and different and transcendent, and prophetic of a New Age?
Gee, you mean it’s just biz as usual? It’s every presidency and every administration that pulls dirty tricks? It’s one continuous, unbroken line of diabolical scum at work?
What a shock. Let me hold on to my chair, because the room might start spinning.
Lois, what if there is no Clark? What if he’s not in some phone booth taking off his suit and turning into Superman, so he can rescue you? What if the president and his henchmen are just throwing you to the wolves?
Consider that. Then consider what would happen if you changed your mind at the 11th hour, and instead of taking the Fifth, you checked into the Committee room tomorrow and told everything, and I mean everything, you know.
You could rock the vote, retrospectively. You could make the kind of splash we rarely see. You could upset so many apple carts it would be wondrous to behold.
Wasn’t this administration supposed to be about a massive healing and cleansing? You could make it so, Lois. You could engage with the people, for once, and tell the truth.
I know you’re sweating bullets right now, but think about it.
Imagine the looks on the faces of Steven Miller, Eric Holder, Barack Obama.
The truth and the whole truth.
Lois, your lawyer, Taylor, has written to the House Committee, “[Lois] has not committed any crime or made any misrepresentation, but under the circumstances, she has no choice but to take this course [and invoke the Fifth].”
Wow, Lois, do you see how crazy it’s getting? Your own attorney is basically saying you have no reason to take the Fifth…except for the fact that you have to protect other people. Isn’t that right? Isn’t that what he really means? So who is he really working for?
You’re out there alone. You’re exposed. Why not give them all the shaft and tell the whole sordid story?
The author of two explosive collections, THE MATRIX REVEALED and EXIT FROM THE MATRIX, Jon was a candidate for a US Congressional seat in the 29th District of California. Nominated for a Pulitzer Prize, he has worked as an investigative reporter for 30 years, writing articles on politics, medicine, and health for CBS Healthwatch, LA Weekly, Spin Magazine, Stern, and other newspapers and magazines in the US and Europe. Jon has delivered lectures and seminars on global politics, health, logic, and creative power to audiences around the world. You can sign up for his free emails at www.nomorefakenews.com
Source: Jon Rappoport Blog
Hurrah, the worm has turned! Or has it? The corporatist controlled mass media love affair with the puppet spinmeister seems to be on the rocks. For progressive propagandists, the profession of journalism has long sunk into the sewer. Withal, the elitist snobbery of the self-appointed gatekeepers for the globalist power structure got a slap in the face and a wakeup call, from Associated Press spy-gate. The reporter darlings for the Obama “Chicago Outfit” protection racket just got a taste of unexpected payback appreciation. Slow on the uptake, Obama Lapdog Andrea Mitchell on IRS Scandal: “One of the most outrageous excesses I’ve seen in all my years in journalism” “Wait until this fossil finds out about AP records being seized.”
This sentiment typifies the insincere shock from the hypocrites that ignored the criminal pattern of governance for the last four plus years. Just listen to their temper tantrum in the YouTube video, Media turn on Obama in response to AP probe. Oh, woe is I, how can our esteemed profession be treated in such a way by our celebrity creation rock star? How could he betray us, after we covered for him at every turn?
Well, the fact that the “Chicago Gangster Organization” of the Obama crew targeted the electronic communications of the press should not be a shock in the age of the Patriot Act. The real bombshell is that the Justice Dept. Wiretapped the House of Representative’s Cloak Room. “California congressman Devin Nunes made the claim yesterday that the Justice Department wiretapped telephones in the House of Representative’s Cloak Room, an exclusive part of the Capitol where members are able to privately interact with one another.
“Will the newly invigorated and hardy souls of the “Fourth Estate” become bloodhounds and sniff out the ugly stories behind the headlines? Before the long beleaguered news consumer regains confidence that the muckraker tradition of theWashington Merry-Go-Round has returned, consider who really benefits from this miraculous turn of conscience.
Let’s get right down with the despicable truth that most mainstream news is simply a product of disinformation that benefits the shadowy forces that control the editorial content of the spin. Polite company is supposed to ignore that Zionism and the Mediahas an Israel-First agenda in reporting. The direct links of tribe ownership, editorial approval and journalists staffing is simply a fact within the industry.
The linkage of a systemic slanted viewpoint and sympathy for an ideology that conflicts with traditional Americanism is a reality that cannot be denied by any honest observer. Prodigious lies from politicians are expected, but repeating the prevarications, while professing a claim that objective journalism is their trade, is a primary reason whypresstitutes are so despised.
In order to understand the current media scorn towards the Obama regime needs a shot of bold courage for analysis of the geo-political influence that dictates the perspective that goes into print. Since the mass media is a top down cabal of groupthink, it is entirely explicable that some political objective is at the core of the “so called” fabricated media outrage.
The Obama administration has demonstrated a reluctance to do the bidding of the most bellicose pro Zionists. The significance that an illegal preempted strike on Iran, a priority for Benjamin Netanyahu’s ruling coalition, has not received approval from Barry Soetoro means that the string is running out on Obama usefulness. Interminable media speculation has been registered about Barack Hussein Muslim sympathies. Leaving the extent of such motivations aside, the critical question is whether a teleprompt reader, tutored by the CIA to become an asset for the agency, is really making foreign policy decisions.Consider that the red line has passed for Obama, and that operations for false flag distractions are firmly in the hands of his controllers. Stripping the imposter in chief of his political capital and placing blame on his inept and gonzo behavior is a natural for the skilled character blackwash of media assassins.
The most reasonable conclusion from an analysis of the sudden turn by a uniform media is that the order, from on high, went forth that ignoring greater Israel interests, has consequences. From none other than the oracle of Zionist supremacy, the New York Times editorial board Spying on The Associated Press, expresses their new found denigration.
“For more than 30 years, the news media and the government have used a well-honed system to balance the government’s need to pursue criminals or national security breaches with the media’s constitutional right to inform the public. This action against The A.P., as the Reporters Committee for Freedom of the Press outlined in a letter to Mr. Holder, “calls into question the very integrity” of the administration’s policy toward the press.”
The mere mention of the Attorney General from the Department of Injustice, mildly stated is just a little late. “Fast And Furious” Eric Holder is the poster boy for careerist corruption going back to the Oklahoma City Bombing. Why now is the media turning on an AG that makes one longing for the resurrection to office of John Mitchell?
The POTUS proclaims, I Have ‘Complete Confidence’ In Holder.
“President Barack Obama continues to back Attorney General Eric Holder following the fallout over the Justice Department secretly obtaining two months of telephone records of reporters and editors for The Associated Press.
During a Rose Garden press conference, the president stated that he has “complete confidence” in the job Holder is doing.”
And why would Obama not back his buffoon sibling in law-breaking? Know NothingHolder is either the minister of incompetence or the sheriff of selective memory.
“Attorney General Eric Holder used the phrase “I don’t know” or some variation, at least 57 times during a hearing before the House Judiciary Committee today as House Republicans grilled him over controversies including the IRS’ targeting of Tea Partiers, the Justice Department’s seizure of journalist phone records, and the security lapses surrounding the Boston bombing.
Holder, who says he has recused himself from an intelligence leak probe in which the Department of Justice subpoenaed phone records from Associated Press reporters, repeatedly dodged questions about the growing scandal.
When asked whether the DOJ attempted to work with the AP before seizing the phone records, Holder said, “I don’t know what happened. I was recused from the case.”
The Daily Mail expands in the article, Eric Holder points finger at his DEPUTY, “Holder said that he recused himself from the making the controversial decision to subpoena the phone records of Associated Press journalists, saying that it was made by Deputy Attorney General James Cole.”For all those remaining Obama supporters, why isn’t Eric Holder indicted for obstruction of justice as a prelude to impeachment of his boss?
Already we are hearing that many more disclosures are about to break. One such disgrace, coming out of a broadcaster, notable for their ESPN coverage, is the account of the IRS Official in Charge During Tea Party Targeting Now Runs Health Care Office.
“Sarah Hall Ingram served as commissioner of the office responsible for tax-exempt organizations between 2009 and 2012. But Ingram has since left that part of the IRS and is now the director of the IRS’ Affordable Care Act office, the IRS confirmed to ABC News today.”
The sport of network political coverage has been more about entertainment than accountability coverage. The application of investigative inquiry and objective criteria is mostly absent from the half-truths and feel good treatment of favored political causes and personalities. Quality investigatory reporting of a Robert Novak, Seymour Hersh or a Jack Anderson is very rare today. The standards that they practiced need to be applied by the Washington press corps.
Will the media demonstrate the same intensity of scrutiny, when querying Press Secretary Jay (Ron Ziegler, Jr) Carney as they did during Watergate? Dream on folks, the asymptomatic embellishment in reporting by the progressive media is embedded in their genes. Their function is to enable the collectivist cover-up that has a primal goal of dismantling our constitutional republic.
Independent news organizations need to get down to veracity and confront the power structure with the same vigor and intensity of John Peter Zenger. The publishing trade honed by Benjamin Franklin is dishonored by the journalists that grovel for career recognition from media conglomerates that write deliberate falsehoods.
Journalists know that their editor can strip out any item that does not conform to the “PC” policy of the publisher. The real Associated Press scandal is that the moguls of media stories are in the business of serving the political agenda of their ownership masters.
The reason that alternative news sites are dangerous to the establishment version of information is that the internet readers obtain none filtered content and are able to assess their own conclusions. The rightful contempt due for government political propaganda also applies to the slick talking heads that mouth the scripts of their internationalist overlords. Whom do you trust? The globalist adaptation of reality has no credibility.
Inquest to take place shortly concerning death of scientist…
Holmes is one of several Porton Down scientists who have died under questionable circumstances. The death in November 2001 of Vladimir Pasechnik was ruled to be a stroke, although co workers stated that Pasechnik was in good health. Vladimir Pasechnik was a Russian defector who first alerted the West to the extensive clandestine research into biological warfare taking place within the Soviet Union.
His death was, oddly, belatedly announced by Dr. Christopher Davis of Virginia. Davis was the member of British intelligence who de-briefed Dr. Pasechnik at the time of his defection. The announcement of Pasechnik’s death did not come in England until a month after he died. Interestingly, Pasechnik was also debriefed by a Dr. David Kelly, head of microbiology at Porton Down, which is England’s top secret chemical, biological and nuclear laboratory.
Dr. David Kelly, whose body was also found in the woods, had been invited to take the position of chief microbiologist at Porton Down in 1986. Later, he worked extensively with Dr. Wouter Basson of South Africa’s clandestine Project Coast. Basson was known to be working on a “black’s only” bioweapon. When South Africa’s apartheid government fell, Basson was subsequently charged with an assortment of crimes, including murder. He skated on all the charges and is now a successful cardiologist in Durbanville, South Africa.
Another scientist who collaborated with Kelly and Basson, Dr. Larry Ford of Irvine, California died in 2001 of a shotgun blast that was ruled a suicide. Police found guns, ammunition and explosives when they dug up his yard. Cholera, botulinum, salmonella and typhoid were also located in vials in his refrigerator. All told, 266 bottles and vials of lethal toxins were found in the Ford home.
The CIA declined to comment on Ford’s intelligence connections.
Dr. Kelly’s death in 2004—in the same woods that were to later claim the body of Dr. Richard Holmes—sent shock waves through the clandestine scientific community. Kelly reportedly died after slashing his wrists and consuming a cocktail of painkillers . His death was subsequently ruled a suicide.
However, according to the mainstream publication the Daily Mail, thirteen respected doctors declared that it was medically impossible for Dr. Kelly to have died in this manner. http://www.dailymail.co.uk/news/article-1200004/Did-MI5-kill-Dr-David-Kelly-Another-crazy-conspiracy-theory-amid-claims-wrote-tell-book-vanished-death.html
Andrew Gilligan, a reporter for BBC, claimed that Kelly had recently given him and other reporters information that proved the government had exaggerated the Iraqi danger in its “dossier” in order to justify the war against Iraq. Kelly was also reported to be writing a “tell-all” book.
The Daily Mail also reported that “at 8am, half an hour before Dr. Kelly’s body was discovered under the tree, three officers in dark suits from MI5′s Technical Assessment Unit were at his house. The computers and the hard-disk containing the 40,000 words of the explosive book were carried away. They have never been seen since. “
In 2004, Kelly’s replacement as the chief scientist for chemical and biological defence at the Ministry of Defence’s laboratory at Porton Down, Dr. Paul Norman, died when the plane he was piloting crashed near Devon.
The Wiltshire coroner’s office stated this week that Dr. Holmes’ coroner’s inquest will take place shortly. Dr. Holmes had recently left his employment at Porton Down before his fateful walk in the woods. It is unclear why he resigned. Within a month after leaving Porton Down, he was dead.
Government is bad for personal freedom. That argument is premised upon the truism that everything government does interferes with freedom because it either prohibits or compels. Everything it owns it has taken from others. Much of what it says is divorced from the truth. President Obama, like President George W. Bush, has argued that his first job is to keep America safe, and if he impairs personal freedom in the process, that is a small price to pay for safety. Many of my colleagues in the media on the left and right have bought this argument, notwithstanding its fallacies.
This past week, we learned that the IRS has targeted for additional scrutiny the tax exemption applications of groups with whose messages it disagrees. We also learned that the Department of Justice obtained the personal telephone records of hundreds of reporters and editors employed by the Associated Press without a search warrant issued by a judge. And during this past week we learned that the White House, the Department of State and the CIA all engaged in a conspiracy of disinformation so that the official version of events of what caused the murders of four Americans at our consulate in Benghazi, Libya, would not impair Obama’s re-election campaign in 2012.
The common threads in all of this government secrecy and lying are a general rejection of government’s moral obligation to tell the truth, a disturbing yet brazen willingness to evade and avoid the restrictions the Constitution has deliberately built around government, and a glib admission that the government can do as it pleases so long as it can politically get away with it.
The Constitution’s Equal Protection Clause requires that the government treat all similarly situated entities in a similar manner. The Constitution’s First Amendment prohibits the government from using the speech and expressive activities of persons in America as a basis for the disparate treatment of them.
Thus, on its face – that is, on the basis of what the IRS has admitted and without any further investigation – we have violations of these constitutional principles. If the IRS were to examine the applications for tax exemption of Media Matters with the same level of scrutiny as it does with Tea Party Patriots, it would not run afoul of these principles. But Congress has given the IRS broad latitude to scrutinize the behavior of the taxpayers it chooses to scrutinize, and the IRS has given itself authority to probe, prod and plunder wherever it wishes. I say “given itself,” because the IRS has rule-making power, which when overlooked by Congress (as is almost always the case) actually serves to enhance IRS powers beyond what Congress permits.
Short of criminal behavior such as bribery or conspiracy, the IRS employees who have singled out applications for tax exempt status for more scrutiny based on anticipated political expression are subject to removal from office, but they cannot be prosecuted or sued. Here again, Congress is to blame, as both Republicans and Democrats have used and abused the IRS to their advantage, and neither party inwardly wants laws that will prevent it from doing so in the future. Is this what you expect of our tax collectors?
The First Amendment also assures the right of professional journalists to seek and protect their sources, and it gives them immunity from government prosecution or retribution for truthfully publishing matters of material public interest, even when it involves information stolen from the government. The Supreme Court taught us this in the Pentagon Papers case.
Moreover, the Fourth Amendment requires that if the government wants private information about who stole its secrets, it needs a search warrant from a judge. But the Patriot Act, which was celebrated by some in the media whose telephone records have since been seized, permits federal agents to write their own search warrants when they seek records from a third party like a telephone company and can claim that pursuit of terrorists is at stake. The Patriot Act makes a mockery of the Fourth Amendment, and the government knows that. When the government chills free speech, we all suffer. Thomas Jefferson preferred newspapers without government to government without newspapers. Whose personal records will the government authorize itself to seize next?
The lesson of Benghazi is that we had no lawful right to interfere in the domestic affairs of the Libyan government. It was unlawful for Obama to bomb Col. Gadhafi without a congressional declaration of war. The organized assault on our consulate was the unintended consequence of us using force to infuse American-style democracy on a people whose culture is unable and unwilling to accept it.
But the president’s people were terrified that the murder of our ambassador to Libya during the 2012 presidential campaign might impair Obama’s re-election chances. So they and he tried to rewrite history, and the more they and he lied the more they and he needed to lie to cover up their original lies. Would you retain an employee who lied to you about the deaths of innocents and lied more to cover up the original lies?
Now, back to Bush and Obama and the president’s job. According to the Constitution, the president’s first job obligation is to preserve, protect and defend the Constitution. According to the Constitution, that means preserving Americans’ freedom first and safety second. Freedom is our natural state and is the ultimate natural right. Safety is a need that we ourselves can provide when unimpeded by the government. If the president keeps us safe but not free, he is not doing his job. Do you know anyone who feels freer or even any safer because the government trampled personal freedoms and so far has gotten away with it?
Source: Andrew Napalitano |LewRockwell.com
The debate over what actions actually constitute “terrorism,” I believe, will become one of the defining ideological battles of our era. Terrorism is not a word often used by common people to describe aberrant behaviors or dastardly deeds; however, it is used by governments around the world to label and marginalize political enemies. That is to say, it is the government that normally decides who is a “terrorist” and who is a mere “criminal,” the assertion being that one is clearly far worse than the other.
The terrorist label elicits emotional firestorms and fearful brain-quakes in the minds of the masses. It causes the ignorant and unaware to abandon principles they would normally apply to any other malicious enterprise. They begin to reason that a criminal should be afforded justice, while a terrorist should be afforded only vengeance, even though the act of branding a person a “terrorist” is often completely arbitrary. This vengeance is usually pursued by any means. Thus, the terrorist moniker becomes a rationalization for every vicious and inhuman policy of the establishment, as well as for the citizenry.
Dishonorable and foolish people claim the existence of terrorism essentially gives license for the rest of us to become criminal, willfully trampling on individuals’ rights to privacy, property, free speech, due process, civic participation, etc. Mass criminality against the individual in the name of social safety is the glue that holds together all tyrannical systems, triggering a catastrophic cycle of moral relativism that eventually bleeds a culture dry.
Historically, the expanded use of the terrorist label by governments tends to coincide with the rising tides of despotism. A government that quietly seeks to dominate the people will inevitably begin to treat the people as if they are the enemy. Those citizens who present the greatest philosophical or physical threat to the centralization of power are usually the first to suffer. I do not think it is unfair to say that any system of authority that suddenly claims to see terrorists under every rock and behind every tree is probably about to rain full-on fascism down upon the population.
The National Defense Authorization Act (NDAA) is the legal extension of this process, with a vaporous gray language that allows the government to interpret it in any manner it deems useful, which conveniently allows it to interpret a wide range of “offenses” as acts of war against the state.
The Department of Homeland Security’s “If You See Something Say Something” campaign is the social extension of the process, by which it creates the framework for a paranoid self-censored surveillance culture.
The fusion center network is the enforcement extension designed to surround local and State police with an atmosphere of indoctrination and federalized dogma, teaching common cops to profile according to a template that is so ambiguous that literally any activity could be considered suspicious or terroristic.
All that is left for the establishment is to force the vocabulary of fear into mainstream consciousness. This means constant propaganda. This means furious hype. This means an utterly shameless barrage of false associations, misdirections and fantastical fairyland lies. This means that we have reached a point in the grand totalitarian scheme in which the American populace is about to be bombarded with an endless drone of terrorism brainwashing — not demonizing a foreign enemy, but demonizing the hypothetical extremist next door. In fact, the Boston Marathon bombing seems to have been the signal for an escalation of such rhetoric. The high-speed conditioning has already begun.
In Middlefield, Ohio, James Gilkerson, an unemployed man taking care of his elderly mother, was pulled over during a routine traffic stop only to exit his vehicle firing an AK-47 at police officers. The action was obviously unprovoked; the police responded with deadly force, and rightly so. I would have done the same. Gilkerson’s attack was crazy, yes. Criminal? Yes. But Middlefield Police Chief Arnold Stanko’s remarks to the press bring a whole other dark side to this already tragic event. Stanko stated that: “He got out of the vehicle, intending to kill my officers. We don’t know why he did it… He was a scumbag and a terrorist, and he’s dead.”
Stanko doesn’t know why Gilkerson fired at police, but he is certain that the man was a “terrorist.” What if Gilkerson was depressed or overmedicated or he just snapped that day? Terrorism denotes certain premeditation and planning. This attack was clearly not part of a malicious scheme, yet the label of “terrorist” is being thrown around nonchalantly, almost as if law enforcement has been trained to use such rhetoric whenever it suits them.
In Montevideo, Minn., the FBI recently raided the home of Buford Rogers, who was convicted of felony burglary in 2011. Authorities had received reports that Buford was in possession of a firearm, which is illegal for convicted felons. The raid did indeed produce firearms, as well as items the FBI dubbed “explosive devices.” They did not specify what these “explosive devices” were or if they actually posed a significant threat to anyone. After the bust, headlines read “FBI Thwarts Terror Attack.”
Again, there is absolutely no indication here of a planned attack. There’s no indication that Rogers had any intent to hurt anyone or even any ideological motivations to hurt anyone. Yet the terrorism label is used again to describe a routine criminal arrest.
In Tempe, Ariz., 18-year-old Joshua Prater was arrested after a maid found an “explosive device” in his closet and turned it in to authorities. Prater claims he built the device, consisting of a carbon dioxide cartridge, a fireworks fuse, gunpowder, match heads and fireworks, eight years ago; and he claims he was not aware it was dangerous. Police did not call Prater a terrorist, but they did refer to his device as an “IED,” which, as we all know, is the abbreviation used by U.S. soldiers to describe an “improvised explosive device,” the favorite weapon of insurgents and “terrorists” in Iraq and Afghanistan. Such terminology is not coincidental. Make no mistake; this is a calculated effort to introduce the language of the battlefield to the streets of America.
Seattle police are now holding simulation drills of attacks on local schools in which law enforcement officials fight against gun-wielding proxy opponents posing as “angry parents.”
These kinds of drills are a part of a larger DHS program implemented through fusion centers which, in my view, is designed to desensitize law enforcement to violence against common citizens. Said drills have simulated conflicts with constitutionalists, home-schoolers, patriots and so on. Let’s be clear here; the “terrorists” that the police are now being trained to fight against are people like you and me. We are being painted as the future enemy.
Just to solidify this reality, I will also point out the recent exposure of a DHS training program series available on the Federal Emergency Management Agency Homeland Security Exercise and Evaluation Program website, which includes a media section designed to provide teaching aids to agency heads and law enforcement. The series includes a fabricated news broadcast that covers a hypothetical raid on a “militia headquarters.” The video shows semi-automatic firearms, rifle scopes, night vision, flak jackets — all perfectly legal in the United States today — as illegal “contraband,” while painting gun owners and militias as chemical weapon-wielding terrorists.
What started as an appeal to the average American’s sense of Islamophobia after the 9/11 attacks has now evolved into the full-spectrum theater of random domestic terrorism that culminates in what the establishment calls “self-radicalization.”
The concept of self-radicalization is a very interesting propaganda tactic. Rather than limiting the public’s fear only to some outside foreign enemy like Al Qaeda or some domestic activist organization like the liberty movement, the establishment has now composed a narrative in which each and every one of us might one day catch the extremist virus of dissent, defiance or ideological violence and suddenly decide to kill, kill, kill.
The more naïve subsections of our society will accept unConstitutional methods against the “radicalized” out of fear and conditioning, without realizing that the machinations of bureaucracy being used against those they hate could just as easily be used against them in the future.
If the elites achieve the social endgame they desire, legal and political wordplay will become so broad that anyone could be targeted. If you are a citizen who defies the establishment power structure, then you are an extremist. If you are an extremist, then you are a terrorist. If you are a terrorist, then you are an enemy combatant. And, under the NDAA, if you are an enemy combatant, you are no longer a citizen and you no longer deserve Constitutional protection. The circular logic is maddening, not to mention outrageous. But it is also very useful when an abusive government needs a pretext to silence or destroy dissent. Under totalitarianism, all people become terrorists. It starts with the mistreatment of the worst of us, and it ends with the mistreatment of the best of us.
Source: Brandon Smith | Alt-Market
When the Internal Revenue Service admits to violations of law by targeting limited government advocate organizations, you know that the non-divulged crimes are much worse. The discloser in the mainstream media is a pleasant astonishment. The usual pattern of protecting “Big Government” is still intact, while the noise and agency diversion on the abuses of the IRS avoid the fundamental problem with federal taxation, based upon a system of deductions, exemptions, incentives and grants. The extortion and intimidation in the enforcement of the tax code is the entrusted role assigned to the IRS by the political hacks that administer the social engineering experiment that is fundamentally changing America.
The politicalization of the system is premeditated. The revelation that Obama governance resulted in IRS scrutiny went beyond Tea Party, targeting of conservative groups broader than thought, should not be shocking. The sycophants in federal employment have a deranged hostility towards any voice that defends and promotes constitutional federalism. Foxnews reports:
“The internal IG timeline shows a unit in the agency was looking at Tea Party and “patriot” groups dating back to early 2010. But it shows that list of criteria drastically expanding by the time a June 2011 briefing was held. It then included groups focused on government spending, government debt, taxes, and education on ways to “make America a better place to live.” It even flagged groups whose file included criticism of “how the country is being run.”
By early 2012, the criteria were updated to include organizations involved in “limiting/expanding government,” education on the Constitution and Bill of Rights, and social economic reform.”
The game of citing partisan hypocrisy in describing respective “enemy lists” avoids the necessary task of replacing the taxation labyrinth, designed to select winners and losers. Every administration uses the bureaucracy to punish political foes and most presidencies intentionally engage in illegal retribution, but all share the virtual immunity from prosecution for their misdeeds. What can we reasonably expect from this Obama scandal? It certainly has the hallmark of being a far more severe constitutional violation than those committed in the heyday of the LBJ, Nixon and Clinton outlaws.
Now be forewarned, that the IRS is charged with overseeing compliance under Obamacare. Giving a mandate for expansion under this current cloud of criminality is the height of arrogance. Notwithstanding, the irreversible loss in credibility, the wholesale revamping of the method of taxation should be examined and a trustworthy replacement adopted. However, before reviewing one such alteration, it must be pointed out, that collecting taxes to finance governmental operations is not the primary purpose of the current system.
Perpetual trillion dollar deficits demonstrate that raising revenue to pay for federal programs lacks the ability to balance budgets. The principal function of the Internal Revenue Service is to facilitate the tax avoidance practices of corporatist transnational conglomerates. The retaliatory mission against working class citizens is ostensibly a disciplinary process to maintain control over the finances of producing contributors. Inhibiting upward mobility for the populace, while accelerating elite’s wealth accumulation, is the destructive result of the tax code.
The Hill offers a solution in the article, House GOP seeks to abolish IRS, replace income tax with consumption tax.
“The FairTax Act, from Rep. Rob Woodall (R-Ga.), would abolish the 16th Amendment, which was ratified 100 years ago this February. That amendment gives Congress the power to impose income taxes without having to spend the revenues evenly among the states.
Woodall’s bill, H.R. 25, would replace the current tax system with a 23 percent consumption tax on all new goods and services. He said Thursday that this change would eliminate the need for a complicated tax code, and would be the kind of tax reform that helps reinvigorate the economy.”
The merits or criticism of a consumption tax and certainly any final amount of the levy certainly deserves a vigorous national debate. However, the need for eliminating the byzantine complexity and inherent inequity in the present punitive tax collection system should be unanimous.
Obviously, the prospect that the establishment ruling class would allow the slaughter of their cash-cow is zero. The entire existence of the Tea Party movement grew out of a desire to restore the principle of no taxation without representation. Yet, the efforts out of the authoritarian globalists are to ramp up even more draconian measures to monitor and intrude into every financial affair of normal people.
The only prudent political response to this intolerable obliteration of our eternal right to the pursuit of happiness is to require a return to the pre income tax system of revenue collection. Just listen to the screams, from those progressive socialists, who demand that the State must use their penalizing power to force egalitarian redistribution upon every wealth creator or economic producer.
The calculated fear factor imbedded into the Internal Revenue Service goes well beyond targeting just conservative groups. Every self-respecting American shares a vested interest in restoring a constitutional government. As it stands now, the prospect of achieving even a reasonable prospect of legitimate authorities is incompatible as long as the IRS is allowed to run amok over the masses who are attempting to petition and redress their government.
USA Today reports, Obama calls purported IRS targeting “outrageous”, from the latest Obama presidential press conference.
“Obama says first learned about the IRS controversy from news reports. He called the purported targeting of conservative groups by IRS personnel “outrageous and there is no place for it.” The IRS has to have “absolute integrity, ” Obama adds.
“You don’t want the IRS ever being perceived to be biased,” Obama said.
The president adds that his administration will get to the bottom of what happened at the IRS. “I have no patience for it. I will not tolerate it.”
How can anyone believe that Obama has clean hands or that some faction within the Internal Revenue Service was operating without his knowledge? Well Mr. President, prove the meaning in your words and put forth the political capital to pass the H.R. 25 legislation.
The title of today’s column, “There Is A Conspiracy,” is a direct quote from Ezekiel 22:25. In this passage, God instructed Ezekiel to blow the whistle on the conspiracy of Israel’s prophets to deny people truth, to devour people’s souls, to defraud people’s substance, and to destroy people’s lives. I dare say this conspiracy is still alive and well today. Many pastors and religious leaders in 2013 America are as guilty of Ezekiel’s charges as were Israel’s ancient prophets.
However, use the word “conspiracy” today and even most Christians will roll their eyes in disbelief. And, of course, the mainstream media is so paranoid of the word conspiracy that one has to speculate that the reason for this aversion to objectively dealing with the subject is simply due to the fact that they are among the co-conspirators.
But once in awhile, someone in the media has the guts to broach the subject of conspiracy. My friends at TruthAlliance.net recently covered a report written by Matt Taibbi of Rolling Stone Magazine. Taibbi begins his report saying, “Conspiracy theorists of the world, believers in the hidden hands of the Rothschilds and the Masons and the Illuminati, we skeptics owe you an apology. You were right. The players may be a little different, but your basic premise is correct: The world is a rigged game. We found this out in recent months, when a series of related corruption stories spilled out of the financial sector, suggesting the world’s largest banks may be fixing the prices of, well, just about everything.”
Speaking of the LIBOR and other Wall Street scandals, Taibbi goes on to write, “All of these stories collectively pointed to the same thing: These banks, which already possess enormous power just by virtue of their financial holdings–in the United States, the top six banks, many of them the same names you see on the Libor and ISDAfix panels, own assets equivalent to 60 percent of the nation’s GDP–are beginning to realize the awesome possibilities for increased profit and political might that would come with colluding instead of competing. Moreover, it’s increasingly clear that both the criminal justice system and the civil courts may be impotent to stop them, even when they do get caught working together to game the system.
“If true, that would leave us living in an era of undisguised, real-world conspiracy, in which the prices of currencies, commodities like gold and silver, even interest rates and the value of money itself, can be and may already have been dictated from above. And those who are doing it can get away with it. Forget the Illuminati–this is the real thing, and it’s no secret. You can stare right at it, anytime you want.”
See the report at:
Hallelujah! Just about everybody with an IQ over 80 knew it; so it’s about time someone finally said it: gold and silver prices are “rigged.” So is the Petro-Dollar. So is the ammo shortage. So are the headlines on ABC, CBS, NBC, CNN, and MSNBC. And so are many of our national catastrophes.
Back in 2011, Jacqueline Kennedy Onassis was added to the list of “conspiracy nuts” when tapes that were recorded within months of President John F. Kennedy’s assassination, which had been sealed in a vault at the Kennedy Library in Boston, were released. In the tapes, former First Lady Jackie Kennedy revealed that she believed Vice President Lyndon Baines Johnson and other “influential individuals” orchestrated the Dallas shooting that killed her husband.
Wow! Jackie Kennedy didn’t believe the official government story that her husband was killed by a “lone gunman.” She believed there was a conspiracy of “influential individuals” who colluded in killing her husband.
I’m with Jackie! Even though I was only a little boy when President Kennedy was assassinated, I could never wrap my head around the “lone gunman” theory. And the older I got, and the more I studied that tragedy, the more I became convinced there was a giant conspiracy involved in both killing the President and covering it up after he had been killed. I still believe that today.
While we are talking about conspiracies, let’s talk about a few more.
TWA Flight 800 “Explosion”
Do you really believe the official story of the crash of TWA flight 800 in 1996? What if an American missile accidentally shot down that jetliner? Do you really think the federal government would come clean about it?
Read this report from The Washington Weekly, if you are willing to be enlightened:
Oklahoma City Bombing
Do readers really believe the official story that Timothy McVeigh acted alone in igniting the explosion that took down the Murrah Federal Building in Oklahoma City, Oklahoma, and that there was no cover-up as to what actually happened? I don’t.
Here is where you can get started on this one:
9/11 Twin Towers and Pentagon Attacks
There has been so much written on this subject, I will let readers fend for themselves as to personal research on the matter. Without wading too deeply into this discussion (and for the sake of column space), let me ask just one simple question. Pray tell, what took down Building 7? To this good hour, I have not heard one single plausible explanation proffered by any government or media representative that explains why Building 7 collapsed.
Do I know what really happened on 9/11? No. But do I believe that the government is purposefully keeping the American people in the dark as to what really happened on 9/11/01? You bet I do! Do I believe that there is a cover-up of crucial evidence related to 9/11 by both the federal government and the national news media? You bet I do!
Another event that the official version is just completely unbelievable to me is the earthquake in Haiti in January of 2010. I will always believe that there was so much to this story that we were not being told. It didn’t “smell” right to me when it happened; it doesn’t “smell” right to me now. If you’re interested, try perusing through some of this information:
Iraq, Afghanistan, Libya, Syria Wars
Let me be so blunt as to say I don’t believe the official story about any of the wars America is waging in the Middle East. I believe virtually every reason George W. Bush gave the American people for attacking and invading Iraq was a premeditated, bald-faced lie! And I believe every reason Barack Obama gives for staying at war in the Middle East is a premeditated bald-faced lie!
I believe the so-called “War on Terror” which justifies endless wars abroad and endless surveillance at home is completely manufactured by those in government and business for personal economic and political interests. In the name of fighting for freedom overseas, the central government in Washington, D.C., is turning America’s homeland into a giant prison-camp. Pray tell, what good does it do to send American troops overseas to fight a war for freedom, then turn around and use the war for freedom overseas as an excuse to expunge the freedoms of the American people here at home? If that doesn’t smell of conspiracy, nothing does!
Ron Paul was right! “Blowback” truly is a reality; and America’s “War on Terror” is actually making the United States less safe, not more. In fact, if you really want to get sick to your stomach over what this so-called “War on Terror” is accomplishing and why so many people around the world are coming to hate us, take a look at this report:
The Boston Bombings
Noted researcher and analyst, Joel Skousen, recently wrote a detailed and lengthy exposé on the Boston Bombings in his excellent World Affairs Brief (which I highly recommend). Here is just a short clip:
“It seems very suspicious that the FBI would release so many photos and video excerpts (including even partial and grainy shots as if they are presenting everything possible) showing the brothers [accused bombers] in the area, but then they fail to produce the most conclusive evidence that matches what the indictment says.
“This narrative is so specific that it would be very risky for a federal official to make such detailed reference to video evidence if they did not actually possess it–unless they already had a legal strategy worked out where the claimed evidence would be suppressed under the government’s habitual use of the State Secrets doctrine or via a compliant judge who has agreed in advance to seal the evidence. The suppression of key evidence has been a central part of every major government cover-up including the JFK and Martin Luther King assassinations, Oklahoma City bombing and both WTC attacks.”
To subscribe to Skousen’s World Affairs Brief, go to:
Skousen is right to be suspicious. Agencies of the federal government have long-facilitated terrorist plots in this country. Even the New York Times carried an editorial outlining a long list of examples of how the FBI hatches and then “discovers” terrorist plots.
See the Times editorial at:
Furthermore, writing for Infowars.com, Paul Joseph Watson chronicles the long-established pattern of central governments in creating national terror as a vehicle with which to blame other groups and set in motion whatever predetermined plan had been previously concocted.
See Watson’s report at:
The Connecticut School Shootings, The Colorado Theater Shootings, etc.
There are so many inconsistencies, changed stories, and conflicting reports with virtually every official report regarding these mass shootings, so much so that it is difficult for any rationally thinking person to believe them. Unfortunately, the absence of true objective investigative reporting by the national news media means the vast majority of the American people will never have the information they need and, thus, they will never know the truth about any of these mass shootings. All the news media does today is simply regurgitate the official government story, without question. (That’s why, if you truly want to be informed, you must abandon the controlled propaganda press corps and research independent sources. But even there, one must be careful. Not every independent source is reliable. Plus, government propagandists are at work planting bogus information on the Internet and elsewhere in an attempt to make government critics appear foolish.) But there is one constant that surrounds every mass shooting: the push for increased gun control by anti-freedom politicians. Yes, I realize we could put this under the “You never want a serious crisis to go to waste” (Rahm Emanuel) category. But I’m so cynical now that I’m seeing the potential for the dark side of government behind every mass shooting.
Speaking of defending the Second Amendment, there is a brand new film being produced entitled, MOLON LABE: How The Second Amendment Guarantees America’s Freedom, based on the masterful research of attorney Edwin Vieira, Jr., in his book, The Sword and Sovereignty. The film features people such as Ron Paul, Pat Buchanan, Larry Pratt, G. Edward Griffin, Alex Jones, Stewart Rhodes, and yours truly. This film has the potential to be a “game-changer” in the attacks against the preservation of our right to keep and bear arms. Acclaimed producer James Jaeger is nearing final editing and could really use the support of thousands of freedomists around the country. Your contributions to this project could pay off mightily in helping to preserve the Second Amendment. I highly encourage readers to seriously consider donating to the completion of this terrific film. It is a film that Barack Obama and Dianne Feinstein hope will never be seen. Here is the trailer along with information on how you can contribute:
So, Matt Taibbi at Rolling Stone Magazine, the late Jackie Kennedy Onassis, and the Prophet Ezekiel all agree: “There is a conspiracy.” I believe it.
On May 4, he called US president Obama the “grand chief of devils.”
Obama, who has betrayed democracy in America, unleashing execution on American citizens without due process of law and war without the consent of Congress, provoked Maduro’s response by suggesting that Maduro’s newly elected government might be fraudulent. Obviously, Obama is piqued that the millions of dollars his administration spent trying to elect an American puppet instead of Maduro failed to do the job.
If anyone has accurately summed up Washington, it is the Venezuelans.
Who can forget Chevez standing at the podium of the UN General Assembly in New York City speaking of George W. Bush? Quoting from memory: “Right here, yesterday, at this very podium stood Satan himself, speaking as if he owned the world. You can still smell the sulphur.”
Hegemonic Washington threw countless amounts of money into the last Venezuelan election, doing its best to deliver the governance of that country to a Washington puppet called Henrique Capriles, in my opinion a traitor to Venezuela. Why isn’t this American puppet arrested for treason? Why are not the Washington operatives against an independent country–the US ambassador, the counsels, the USAID/CIA personnel, the Washington funded NGOs–ordered to leave Venezuela immediately or arrested and tried for spying and high treason? Why allow any presence of Washington in Venezuela when it is clear that Washington’s intention is to make Venezuela a puppet state like the UK, Germany, Canada, Australia, Turkey, Japan, and on and on.
There was a time, such as in the Allende-Pinochet era, when the American left-wing and a no longer extant liberal media would have been all over Washington for its illegal interference in the internal affairs of an independent country. But no more. As CounterPunch’s Jeffrey St. Clair has recently made clear, the American left-wing remains “insensate to the moral and constitutional transgressions being committed by their champion”–the first black, or half-black, US president–leaving “Rand Paul to offer official denunciations against [Washington’s] malignant operations” against independent countries.
Against the Obama regime’s acts of international and domestic violence, “the professional Left, from the progressive caucus to the robotic minions of Moveon.org, lodge no objections and launch no protests.” St. Clair has written a powerful article. Read it for yourself: http://www.counterpunch.org/2013/05/03/the-game-of-drones/print
I think the American left-wing lost its confidence when the Soviet Union collapsed and the Chinese communists and Indian socialists turned capitalist. Everyone misread the situation, especially the “end of history” idiots. The consequence is a world without strong protests of Washington’s and its puppet states’ war criminal military aggressions, murder, destruction of civil liberty and human rights, and transparent propaganda: “Last night Polish forces crossed the frontier and attacked Germany,” or so declared Adolf Hitler. Washington’s charges of “weapons of mass destruction” are even more transparent lies.
But hardly any care. The Western governments and Japan are all paid off and bought, and those that are not bought are begging to be bought because they want the money too. Truth, integrity, these are all dead-letter words. No one any longer knows what they mean.
The moronic George W. Bush said, in Orwellian double-speak, they hate us for our freedom and democracy. They don’t hate us because we bomb them, invade them, kill them, destroy their way of life, culture, and infrastructure. They hate us because we are so good. How stupid does a person have to be to believe this BS?
Washington and Israel present the world with unmistakable evil. I don’t need to stand at the UN podium after Bush or Obama. I can smell Washington’s evil as far away as Florida. Jeffrey St. Clair can smell it in Oregon. Nicolas Maduro can smell it in Venezuela. Evo Morales can smell it in Bolivia from where he cast out CIA-infiltrated USAID. Putin can smell it in Russia, although he still permits the treasonous “Russian opposition” funded by US money to operate against Russia’s government. The Iranians can smell it in the Persian Gulf. The Chinese can smell it as far away as Beijing.
Homeland Security, a gestapo institution, has “crisis actors” to help it deceive the public in its false flag operations.
The Obama regime has drones with which to silence American citizens without due process of law.
Homeland Security has more than a billion rounds of ammunition, tanks, a para-military force. Detention camps have been built.
Are Americans so completely stupid that they believe this is all for “terrorists” whose sparse numbers require the FBI to manufacture “terrorists” in so-called “sting operations” in order to justify the FBI’s $3 billion special fund from Congress to combat domestic terrorism?
Congress has taxpayers paying the FBI to frame up innocents and send them to prison.
This is the kind of country American has become. This is the kind of “security” agencies it has, filling their pockets by destroying the lives of the innocent and downtrodden.
“In God we trust,” reads the coinage. It should read: “In Satan we follow.”
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
Not only will Senate Bill 744, called the Comprehensive Immigration Reform Act, add 33 million immigrants to the USA within the next 10 years, it will cost American taxpayers a mind-numbing $6.3 trillion. That amount of money piles on top of our already crippling $16.5 trillion national debt. When you consider 12 to 20 million illegal alien migrants taping into our social security, schools, medical systems, assisted housing and food stamp benefits—the costs skyrocket beyond imagination.
Robert Rector of the Heritage Foundation stated, “Unlawful immigration and amnesty for current unlawful immigrants can pose large fiscal costs for U.S. taxpayers.”
Government provides four types of benefits and services that are relevant to this issue:
- Direct benefits. These include Social Security, Medicare, unemployment insurance, and workers’ compensation.
- Means-tested welfare benefits. There are over 80 of these programs which, at a cost of nearly $900 billion per year, provide cash, food, housing, medical, and other services to roughly 100 million low-income Americans. Major programs include Medicaid, food stamps, the refundable Earned Income Tax Credit, public housing, Supplemental Security Income, and Temporary Assistance for Needy Families.
- Public education. At a cost of $12,300 per pupil per year, these services are largely free or heavily subsidized for low-income parents.
- Population-based services. Police, fire, highways, parks, and similar services, as the National Academy of Sciences determined in its study of the fiscal costs of immigration, generally have to expand as new immigrants enter a community; someone has to bear the cost of that expansion.
“The cost of these governmental services is far larger than many people imagine,” said Rector. “For example, in 2010, the average U.S. household received $31,584 in government benefits and services in these four categories.
“The governmental system is highly redistributive. Well-educated households tend to be net tax contributors: The taxes they pay exceed the direct and means-tested benefits, education, and population-based services they receive. For example, in 2010, in the whole U.S. population, households with college-educated heads, on average, received $24,839 in government benefits while paying $54,089 in taxes. The average college-educated household thus generated a fiscal surplus of $29,250 that government used to finance benefits for other households.
“Other households are net tax consumers: The benefits they receive exceed the taxes they pay. These households generate a “fiscal deficit” that must be financed by taxes from other households or by government borrowing. For example, in 2010, in the U.S. population as a whole, households headed by persons without a high school degree, on average, received $46,582 in government benefits while paying only $11,469 in taxes. This generated an average fiscal deficit (benefits received minus taxes paid) of $35,113.
“The high deficits of poorly educated households are important in the amnesty debate because the typical unlawful immigrant has only a 10th-grade education. Half of unlawful immigrant households are headed by an individual with less than a high school degree, and another 25 percent of household heads have only a high school degree.”
Imbedding intractable human poverty into the American fabric
“Some argue that the deficit figures for poorly educated households in the general population are not relevant for immigrants,” said Rector. “Many believe, for example, that lawful immigrants use little welfare. In reality, lawful immigrant households receive significantly more welfare, on average, than U.S.-born households. Overall, the fiscal deficits or surpluses for lawful immigrant households are the same as or higher than those for U.S.-born households with the same education level. Poorly educated households, whether immigrant or U.S.-born, receive far more in government benefits than they pay in taxes.
“In contrast to lawful immigrants, unlawful immigrants at present do not have access to means-tested welfare, Social Security, or Medicare. This does not mean, however, that they do not receive government benefits and services. Children in unlawful immigrant households receive heavily subsidized public education. Many unlawful immigrants have U.S.-born children; these children are currently eligible for the full range of government welfare and medical benefits. And, of course, when unlawful immigrants live in a community, they use roads, parks, sewers, police, and fire protection; these services must expand to cover the added population or there will be “congestion” effects that lead to a decline in service quality.
“In 2010, the average unlawful immigrant household received around $24,721 in government benefits and services while paying some $10,334 in taxes. This generated an average annual fiscal deficit (benefits received minus taxes paid) of around $14,387 per household. This cost had to be borne by U.S. taxpayers. Amnesty would provide unlawful households with access to over 80 means-tested welfare programs, Obamacare, Social Security, and Medicare. The fiscal deficit for each household would soar.
“If enacted, amnesty would be implemented in phases. During the first or interim phase (which is likely to last 13 years), unlawful immigrants would be given lawful status but would be denied access to means-tested welfare and Obamacare. Most analysts assume that roughly half of unlawful immigrants work “off the books” and therefore do not pay income or FICA taxes. During the interim phase, these “off the books” workers would have a strong incentive to move to “on the books” employment. In addition, their wages would likely go up as they sought jobs in a more open environment. As a result, during the interim period, tax payments would rise and the average fiscal deficit among former unlawful immigrant households would fall.
“After 13 years, unlawful immigrants would become eligible for means-tested welfare and Obamacare. At that point or shortly thereafter, former unlawful immigrant households would likely begin to receive government benefits at the same rate as lawful immigrant households of the same education level. As a result, government spending and fiscal deficits would increase dramatically.”
If passed, S744 not only breaks the back of American taxpayers with jobs, it continues to take jobs away from American workers with an infusion of 1.5 million legal immigrants annually. That number equates to over 125,000 new green card workers per month.
Now that the financial hype is celebrating a new all time high in the stocks, the time to exit the market may well be at hand. So what will that Oracle of Omaha do with all the insider information available from his compadre network? The business press swoons all over Warren Buffett with every report, while only a few intrepid journalists would dare write about the dark side of Wall Street’s favorite equity cheerleader. The guru of sweet heart deals floats in the rarified air of a political cronyism ongoing honeymoon. So what is likely for his Berkshire Hathaway flagship company now that the ticker is breathing on pure oxygen?
At the Berkshire Hathaway Shareholders Meeting, the forecast projects that the market will continue to rise. Berkshire Cash Hits Record $49.1 Billion as Profit Climbs, cites Bill Smead, portfolio manager of the Smead Value Fund, “Warren has organized the company around the rebirth of the United States economy over the next 10 years and this is the beginning of that rebirth.”
Not everyone looks at the next decade as a boom for the economy. The easy money out of the Federal Reserve ultimately fuels the hysteria that is pushing the current rally. For the average consumer the markets smell of an elitist stench. The venerability of a top and a collapse has many remnants of the former middle class scared. Should the expectation be that a House of Cards is on the horizon or should the deal from the bottom of the deck continue as the insiders pump and dump their latest speculative fizz?
Examine just how Buffett operates. His reputation as a stock picker largely ignores any of the dirty laundry that follows in his wake. In the event you forget, the audacious reporting of Charles Gasparino, reminds of the methods employed in the investment culture of his associates. Cited in Saint Warren’s dark side, the working of the protecting racket that rewards the Buffett organization, smacks of the very definition of “too big to fail”.
“The SEC interviewed Buffett last year over one of the most sordid corporate affairs I’ve seen in a long time: His longtime aide and one-time heir-apparent bought shares in a company called Lubrizol just before Buffett purchased the outfit.
The executive, David Sokol, made a hefty profit from the purchase, and even advised Buffett to buy the company in the first place.
Insider trading? I can’t say if it was outside the law. But the SEC is looking into the matter. (SEC and Sokol spokesmen declined to comment on the probe’s status; Buffett didn’t return repeated calls seeking comment.)
Yet I don’t recall any major media outfit bringing up the sordid affair while Buffett was lecturing the nation on tax fairness. Nor did any jump on Buffett’s bizarre initial reaction as Sokol was resigning from Berkshire last year: He defended Sokol’s actions — which, even if they weren’t illegal, still smack of the kind of corporate favoritism that Obama and the rest of the left continually denounce.”
Barrons report another sordid episode swept under the rug in the article, A Buffett Bubble in BYD?
“In September of 2008, just after Lehman Brothers’ collapse had taken the financial crisis to a new level, Warren Buffett’s Berkshire Hathaway scooped up 9.9% of Chinese battery and electric-car maker BYD for HK$8 (US$1.03) a share. Even a renowned long-term value investor had to be impressed by the near-term sizzle: Within 18 months, BYD shares had rocketed to HK$88. Then the engine started to sputter.
BYD also may have been spoiled by the Buffett bubble built into the shares, which some analysts estimate could be as big as a 30%. “People regard Buffett well as an investor and are happy to stick with the stock as long as he is still holding it,” says Lewis. His departure could have have a huge adverse effect, they say. “A big Berkshire [BRK.A] premium is the only way you could justify where the stock is trading right now,” says Lewis. “You’ve got to ask yourself: Would Warren make the same decision today on BYD? I suspect not.” At the least, he will see Berkshire’s stake diluted by the offering and local reports say Berkshire won’t subscribe further. BYD trades at more than 50 times earnings.”
Finally, Forbes reflects on the big daddy of deals with that great vampire squid in the analysis, Goldman Sachs Reworks $5B In Warrants Held By Buffett’s Berkshire.
“Essentially, Buffett had the right to purchase 43.5 million shares of Goldman at $115 apiece until October 1, 2013. Under the new terms, Buffett will receive “the number of shares of common stock equal in value to the difference between the average closing price over the 10 trading days preceding October 1, 2013 and the exercise price of $115 multiplied by the number of shares of common stock covered by the warrant (43,478,260).”
The short form: instead of paying Goldman $5 billion in cash for stock worth considerably more, Buffett will simply take the amount of stock equivalent to the difference without paying the company.”
Now are their examples of special circumstances just the sign of astute investing or is this a pattern of synergetic regulatory favoritism and fusion with ruling governmental outlaws? Poor old uncle Warren, licking his ice cream cone while playing the ukulele. When will the anti-trust laws apply to the game rigging plutocrats? Evidently, the Buffett’s of the fixed exchanges have bought and paid for the best political protection available. Avoiding a speculative melt down is impossible for the man on the street, but the privileged globalists are well entrenched in their protected palaces built upon ill-gotten gain.
Run Buffett out of town on one of his rails, for railroading free enterprise into a dark tunnel. The derailment of our economy benefits the market manipulators, as the rest struggles to dig out of the collapsed slide of rubble that buries us alive. Elevating Buffett as an investment sage defies common sense.
“Wherever private property disappears, man’s liberty is gone. Man is placed completely at the mercy of the state. Wherever private ownership is weakened, man’s liberty is weakened also. There is an essential relationship between liberty and property.” R. J. Rushdoony
The Heritage Foundation provides an excellent summary of property rights. They describe a rating of 100 this way: “Private property is guaranteed by the government. The court system enforces contracts efficiently and quickly. The justice system punishes those who unlawfully confiscate private property. There is no corruption or expropriation.” At 50, “The court system is inefficient and subject to delays. Corruption may be present, and the judiciary may be influenced by other branches of government. Expropriation is possible but rare.” At 0, “Private property is outlawed, and all property belongs to the state. People do not have the right to sue others and do not have access to the courts. Corruption is endemic.
In 1995 world property rights were rated at 56. In 2013 they are rated at 43, a reduction of over 20 percent. (See the graph in the Heritage Link below.)
Though freedom is tending down throughout the world it remains highest in Western nations and lowest in the Third World.
The Heritage link rates the United States of America tenth behind Hong Kong, Singapore, Australia, New Zealand, Switzerland, Canada, Chile, Mauritius, and Denmark.
Click here for the Heritage Foundation Property Rights link.
The U. S. Government now owns over 50 percent of the nation’s land and the incremental incursion of United Nation’s Agenda 21 continues to add to the coffer. On Michael Shaw’s “Freedom Advocates”page he writes, “Agenda 21 seeks to transform America while eliminating the middle class. It plans to reach these goals on several fronts: by restructuring agriculture, creating broad wildlife corridors void of human activity, determining where and how people live, controlling human reproduction and human movement, constraining and controlling energy consumption and water use—in short, by eliminating private property.”
“The institution of private property makes possible three things essential to our liberty: It encourages productive activity, allowing us to turn our ideas into actions and to realize the benefits of those actions. It allows us to engage in voluntary trade with others, multiplying the benefits of individual action a thousand-fold. It enables us to safeguard and develop our resources responsibly and to secure peace and prosperity as a result. To appreciate the importance of private property in your own life, you need only to consider the significance of these two facts: Private property represents everything you obtain through productive effort or voluntary trade. Its essence is your right to determine its use”
The right to private property is being eroded in the United States and around the world. World government seeks to exert absolute control; treating people like herds of cattle to be used as labor on the world plantation. Like a bee hive the world will be filled with worker bees whose sole task is to provide an opulent leisure for the ruling class. National pride will give way to a multicultural social order with intermarriages blurring racial identities. Only the Nation of Israel will remain intact. Other nations and races are destined to become worker bees indistinguishable from one another. This is the plan. It is the logic behind the deliberate dumbing down of America and the massive push for multicultural integration. It is the impetus for the destruction of Christianity with its emphasis on the individual. The plan is diabolical, a direct download from Satan himself.
The snake of humanism is very prolific when it invades a society rationality disappears and as humans stray farther and farther from their Creator, foolishness grows with exponential rapidity.
We live with and have accepted an increasing number of social insanities: Our president who may be Constitutionally ineligible has been elected to a second term; our government has enslaved its citizens with a national debt of $16 trillion dollars which amounts to over $50 thousand per citizen; in direct defiance of the natural order we are training women to fight against men in defense of our nation and sanctioning homosexual marriage; the hallowed halls of our educational institutions have accepted the weakening results of multiculturalism as a desirable goal; our citizens have been convinced that relatively weak and militarily insignificant nations in the Arab world are a danger to us; with text book insanity Americans continue to participate in a political system that is progressively enslaving them; and while all this subterfuge goes on our government supports an international court that prosecutes crimes against humanity while they are the biggest perpetrator.
Most Americans harbor a lackadaisical confidence that things will improve. They ignore the world debt crisis and fail to consider that ultimately the lenders will call on the citizens of the United States to pay the debt their government has accumulated. Think of the austerity required for an American family of four to pay off a debt of $200,000.00. That figure is quickly rising as our politicians continue to use the public credit card. The debtor is a slave to the lender and the United States of America is a plantation populated by slaves whose willful ignorance allows them to go about their daily tasks as if all were well.
The One True God is at odds with the new world order; it seeks to tyrannize us while He seeks to free us through obedience to His Commandments. When God and His Law are forsaken despotism is inevitable. We were not created to govern ourselves and since we have failed to encode this truth we are experiencing the results of our failure.
Partisan politics warned us about the dictatorial nature of the Obama Administration but the erstwhile Bush cabal was equally malignant. Changing political partoes is useless. We have long ago lost control of our government and our opinions no longer matter. Congress persons and senators vote the will of the money powers and the money powers reward them with re-election.
In Boston and Watertown, Massachusetts local, state, and federal authorities deployed a frightening array of coordinated force to apprehend two young men they described as terrorists. Acting as judge and jury they violated the legal rights of the suspects and encroached on property rights by invading homes and restricting the movement of their occupants. The entire operation resembled aiming a howitzer at a house fly.
The citizens of the United States of America have been put on notice that neither they nor their properties can claim protections from the unrestrained power of those that rule them.
Several times I have written that Americans need to repent from theirs and their father’s wicked ways. This admonition has fallen on deaf ears and some have advised me that I should stop writing about it because it will never happen.
In a recent email from American Vision Dr. Joel McDurmon wrote that “a corrupt government is the product of a corrupt people”. He quoted H. L. Mencken, “Democracy is the theory that the common people know what They want, and deserve to get it good and hard.” and went on to contend that God often punishes a wicked populace by exposing them to their own sins. “Thus do the politically deluded live in a denial which dismisses even God’s Word in favor of the assertion of human wisdom. So often do men shelter their pet political beliefs from even divine criticism. So often do men deny God’s Word to advance their own desires. So often do men rest on false assurances built on their own godless dreams. And just as often do societies weather and decay from the blights of human vanity.” Read here.
America and its people have supported illegal aggression and encouraged murderous wars. We have pride fully maintained our national superiority and encouraged the use of weapons of mass destruction. We have supported our government in the role of a deity and now, since we have granted it that role, it has begun reflecting it in action. We have winked at sin, dallied in its fringes, and taken an occasional bath. Dishonest measurements have been accepted for decades; our buildings are constructed with dishonest two-by-fours that are actually only one and a half by three and three quarters. Now even our Pound Cakes weigh only fourteen ounces. Dishonesty has permeated our culture! Our media uses lies, gross omissions, and misrepresentations in reporting the news and our government regularly distorts facts and figures. While all this defiance of God continues our churches disregard their proper function by seeking peace and respectability. Abortion is a horrendous sin but it is only one sin; our cancerous pride covers scores of others.
One of my nieces is married to a lawyer. He employs a logical mind that makes conversation interesting. He is a Democrat who supports Obama and believes he is doing a reasonably good job. His approach to life is pragmatic, he considers himself moral, and understands that there is room for disagreement. We did not set parameters for our talk but I believe he would agree with Democrat Harry Reid that government is inherently good and with Libertarian Jacob Hornberger that it should be constrained by natural law.
Natural law alone would never have created the freedom and order the United States of America has enjoyed. It was Christianity and the Laws God gave to Moses that buttressed a secular government and made our nation great. Though not always pronounced it was almost universally supported even by many whose personal beliefs were different. Pragmatism is a pagan procedure that allows compromise with evil and the end to justify the means. Freedom is always endangered by pragmatism.
Because we are no longer a righteous nation we are quickly losing our freedom. The longer we linger in secular humanism the greater the constraints. Private property was flagrantly invaded in Watertown, Massachusetts. When tyrants are successful in exercising inordinate power they will continue to do so.
We no longer have private property in America. The internet is devoid of privacy with everything subject to the prying eyes and ears of big brother. Private homes are no longer sanctuaries but can now be invaded by heavily armed, jack booted government troops who can kill with impunity. Public safety trumps individual rights leaving citizens without privacy or even the right to occupy of their own property.
Life is no longer restrained by absolutes. Power prevails and the full force of the United States military can be used to enforce the whims of those that wield it.
When we forsake God’s Law we subject ourselves to the whims of human power!
I challenge anyone to prove me wrong that confiscation of bank deposits is legalized daylight robbery
Bank depositors in the UK and USA may think that their bank deposits would not be confiscated as they are insured and no government would dare embark on such a drastic action to bail out insolvent banks.
Before I explain why confiscation of bank deposits in the UK and US is a certainty and absolutely legal, I need all readers of this article to do the following:
Ask your local police, sheriffs, lawyers, judges the following questions:
1) If I place my money with a lawyer as a stake-holder and he uses the money without my consent, has the lawyer committed a crime?
2) If I store a bushel of wheat or cotton in a warehouse and the owner of the warehouse sold my wheat/cotton without my consent or authority, has the warehouse owner committed a crime?
3) If I place monies with my broker (stock or commodity) and the broker uses my monies for other purposes and or contrary to my instructions, has the broker committed a crime?
I am confident that the answer to the above questions is a Yes!
However, for the purposes of this article, I would like to first highlight the situation of the deposit / storage of wheat with a warehouse owner in relation to the deposit of money / storage with a banker.
First, you will notice that all wheat is the same i.e. the wheat in one bushel is no different from the wheat in another bushel. Likewise with cotton, it is indistinguishable. The deposit of a bushel of wheat with the warehouse owner in law constitutes a bailment. Ownership of the bushel of wheat remains with you and there is no transfer of ownership at all to the warehouse owner.
And as stated above, if the owner sells the bushel of wheat without your consent or authority, he has committed a crime as well as having committed a civil wrong (a tort) of conversion – converting your property to his own use and he can be sued.
Let me use another analogy. If a cashier in a supermarket removes $100 from the till on Friday to have a frolic on Saturday, he has committed theft, even though he may replace the $100 on Monday without the knowledge of the owner / manager of the supermarket. The $100 the cashier stole on Friday is also indistinguishable from the $100 he put back in the till on Monday. In both situations – the wheat in the warehouse and the $100 dollar bill in the till, which have been unlawfully misappropriated would constitute a crime.
Keep this principle and issue at the back of your mind.
Now we shall proceed with the money that you have deposited with your banker.
I am sure that most of you have little or no knowledge about banking, specifically fractional reserve banking.
Since you were a little kid, your parents have encouraged you to save some money to instil in you the good habit of money management.
And when you grew up and got married, you in turn instilled the same discipline in your children. Your faith in the integrity of the bank is almost absolute. Your money in the bank would earn an interest income.
And when you want your money back, all you needed to do is to withdraw the money together with the accumulated interest. Never for a moment did you think that you had transferred ownership of your money to the bank. Your belief was grounded in like manner as the owner of the bushel of wheat stored in the warehouse.
However, this belief is and has always been a lie. You were led to believe this lie because of savvy advertisements by the banks and government assurances that your money is safe and is protected by deposit insurance.
But, the insurance does not cover all the monies that you have deposited in the bank, but to a limited amount e.g. $250,000 in the US by the Federal Deposit Insurance Corporation (FDIC), Germany €100,000, UK £85,000 etc.
But, unlike the owner of the bushel of wheat who has deposited the wheat with the warehouse owner, your ownership of the monies that you have deposited with the bank is transferred to the bank and all you have is the right to demand its repayment. And, if the bank fails to repay your monies (e.g. $100), your only remedy is to sue the bank and if the bank is insolvent you get nothing.
You may recover some of your money if your deposit is covered by an insurance scheme as referred to earlier but in a fixed amount. But, there is a catch here. Most insurance schemes whether backed by the government or not do not have sufficient monies to cover all the deposits in the banking system.
So, in the worst case scenario – a systemic collapse, there is no way for you to get your money back.
In fact, and as illustrated in the Cyprus banking fiasco, the authorities went to the extent of confiscating your deposits to pay the banks’ creditors. When that happened, ordinary citizens and financial analysts cried out that such confiscation was daylight robbery. But, is it?
It will come as a shock to all of you to know that such daylight robbery is perfectly legal and this has been so for hundreds of years.
Let me explain.
The reason is that unlike the owner of the bushel of wheat whose ownership of the wheat WAS NEVER TRANSFERRED to the warehouse owner when the same was deposited, the moment you deposited your money with the bank, the ownership is transferred to the bank.
Your status is that of A CREDITOR TO THE BANK and the BANK IS IN LAW A DEBTOR to you. You are deemed to have “lent” your money to the bank for the bank to apply to its banking business (even to gamble in the biggest casino in the world – the global derivatives casino).
You have become a creditor, AN UNSECURED CREDITOR. Therefore, by law, in the insolvency of a bank, you as an unsecured creditor stand last in the queue of creditors to be paid out of any funds and or assets which the bank has to pay its creditors. The secured creditors are always first in line to be paid. It is only after secured creditors have been paid and there are still some funds left (usually, not much, more often zilch!) that unsecured creditors are paid and the sums pro-rated among all the unsecured creditors.
This is the truth, the whole truth and nothing but the truth.
The law has been in existence for hundreds of years and was established in England by the House of Lords in the case Foley v Hill in 1848.
When a customer deposits money with his banker, the relationship that arises is one of creditor and debtor, with the banker liable to repay the money deposited when demanded by the customer. Once money has been paid to the banker, it belongs to the banker and he is free to use the money for his own purpose.
I will now quote the relevant portion of the judgment of the House of Lords handed down by Lord Cottenham, the Lord Chancellor. He stated thus:
“Money when paid into a bank, ceases altogether to be the money of the principal… it is then the money of the banker, who is bound to return an equivalent by paying a similar sum to that deposited with him when he is asked for it.
The money paid into the banker’s, is money known by the principal to be placed there for the purpose of being under the control of the banker; it is then the banker’s money; he is known to deal with it as his own; he makes what profit of it he can, which profit he retains himself,…
The money placed in the custody of the banker is, to all intent and purposes, the money of the banker, to do with it as he pleases; he is guilty of no breach of trust in employing it; he is not answerable TO THE PRINCIPAL IF HE PUTS IT INTO JEOPARDY, IF HE ENGAGES IN A HAZARDOUS SPECULATION; he is not bound to keep it or deal with it as the property of the principal, but he is of course answerable for the amount, because he has contracted, having received that money, to repay to the principal, when demanded, a sum equivalent to that paid into his hands.” (quoted in UK Law Essays, Relationship Between A Banker And Customer,That Of A Creditor/Debtor, emphasis added,)
Holding that the relationship between a banker and his customer was one of debtor and creditor and not one of trusteeship, Lord Brougham said:
“This trade of a banker is to receive money, and use it as if it were his own, he becoming debtor to the person who has lent or deposited with him the money to use as his own, and for which money he is accountable as a debtor. I cannot at all confound the situation of a banker with that of a trustee, and conclude that the banker is a debtor with a fiduciary character.”
In plain simple English – bankers cannot be prosecuted for breach of trust, because it owes no fiduciary duty to the depositor / customer, as he is deemed to be using his own money to speculate etc. There is absolutely no criminal liability.
The trillion dollar question is, Why has no one in the Justice Department or other government agencies mentioned this legal principle?
The reason why no one dare speak this legal truth is because there would be a run on the banks when all the Joe Six-Packs wise up to the fact that their deposits with the bankers CONSTITUTE IN LAW A LOAN TO THE BANK and the bank can do whatever it likes even to indulge in hazardous speculation such as gambling in the global derivative casino.
The Joe Six-Packs always consider the bank the creditor even when he deposits money in the bank. No depositor ever considers himself as the creditor!
Yes, Eric Holder, the US Attorney-General is right when he said that bankers cannot be prosecuted for the losses suffered by the bank. This is because a banker cannot be prosecuted for losing his “own money” as stated by the House of Lords. This is because when money is deposited with the bank, that money belongs to the banker.
The reason that if a banker is prosecuted it would collapse the entire banking system is a big lie.
The US Attorney-General could not and would not state the legal principle because it would cause a run on the banks when people discover that their monies are not safe with bankers as they can in law use the monies deposited as their own even to speculate.
What is worrisome is that your right to be repaid arises only when you demand payment.
Obviously, when you demand payment, the bank must pay you. But, if you demand payment after the bank has collapsed and is insolvent, it is too late. Your entitlement to be repaid is that of a lonely unsecured creditor and only if there are funds left after liquidation to be paid out to all the unsecured creditors and the remaining funds to be pro-rated. You would be lucky to get ten cents on the dollar.
So, when the Bank of England, the FED and the BIS issued the guidelines which became the template for the Cyprus “bail-in” (which was endorsed by the G-20 Cannes Summit in 2011), it was merely a circuitous way of stating the legal position without arousing the wrath of the people, as they well knew that if the truth was out, there would be a revolution and blood on the streets. It is therefore not surprising that the global central bankers came out with this nonsensical advisory:
“The objective of an effective resolution regime is to make feasible the resolution of financial institutions without severe systemic disruption and without exposing taxpayers to losses, while protecting vital economic functions through mechanisms which make it possible for shareholders and unsecured and uninsured creditors to absorb losses in a manner that respects the hierarchy of claims in liquidation.”(quoted in FSB Consultative Document: Effective Resolution of Systemically …)
This is the kind of complex technical jargon used by bankers to confuse the people, especially depositors and to cover up what I have stated in plain and simple English in the foregoing paragraphs.
The key words of the BIS guideline are:
“without severe systemic disruptions” (i.e. bank runs),
“while protecting vital economic functions” (i.e. protecting vested interests – bankers),
“unsecured creditors” (i.e. your monies, you are the dummy),
“respects the hierarchy of claims in liquidation” (i.e. you are last in the queue to be paid, after all secured creditors have been paid).
This means all depositors are losers!
Please read this article carefully and spread it far and wide.
You will be doing a favour to all your fellow country men and women and more importantly, your family and relatives.
Source: Global Reasearch
In 1965, as a college student, I felt the U.S. Government and Congress worked for and represented the best interests of the American people. As I learned more, and later as I understood more as a U.S. Army officer, I discovered presidents and Congress lie. When I became a math-science teacher in Denver, Colorado, I discovered that superintendents lie when it benefits them. I discovered people lie.
Lyndon Baines Johnson lied to plunge us into the Vietnam War. Bill Clinton lied from the day of his birth. George W. Bush lied us into Iraq War. Barack H. Obama continually lies to us as to immigration, Afghanistan War, Obamacare, his past history and more than we can count.
But the one lie that will go down in history as the beginning of the end of the United States of America goes to the late Senator Teddy Kennedy (D-MA) and his 1965 Immigration Reform Act. He exploded immigration from 175,000 annually to over 1.2 million year after year, decade after decade. He jumped our population from a reasonable 194 million to its current 316 million on our way to 625 million in this century.
In front of Congress he said, “First, our cities will not be flooded with a million immigrants annually. Under the proposed bill, the present level of immigration remains substantially the same. Secondly, the ethnic mix of this country will not be upset. Contrary to the charges in some quarters, [the bill] will not inundate America with immigrants from any one country or area, or the most populated and deprived nations of Africa and Asia.
“In the final analysis, the ethnic pattern of immigration under the proposed measure is not expected to change as sharply as the critics seem to think. The bill will not flood our cities with immigrants. It will not upset the ethnic mix of our society. It will not relax the standards of admission. The bill will not place a burden on the legal citizens by increasing taxes to pay the huge costs for care-and-feeding, medical care, education, etc of the “immigrants”… and additional social-services for their family members. It will not cause American workers to lose their jobs.” [Ted Kennedy at Judiciary Committee hearing on Feb. 10, 1965, commenting on the Hart-Celler Act]
Kennedy’s bill DID flood the country with another 100 million people. It created intractable poverty and entrenched illiteracy. It created cultural conflicts being played out across America in 2013, i.e. Mexicans battling African-Americans in Los Angeles, Muslims taking over entire cities like Detroit and running out everyone else; it imported many third world immigrants lost in the morass of this high speed society and unable to assimilate. We feature “Black flash mobs” terrorizing citizens in Philadelphia, Minneapolis and Chicago. We feature female genital mutilation, arranged marriages and honor killings in America in 2013. We see exploding illiteracy rates among citizens. We house 47 million people who cannot secure a job: thus, they exist on food stamps. Over 14 million Americans cannot secure a job at a living wage.
This new Comprehensive Immigration Bill expects to swamp our country with another 100 million immigrants within 37 years. From 2050, we face another 200 million beyond that.
In the meantime, Congress, led by a “Gang of Eight” senators expects to unload the gates of hell upon our country. Not only will Congress give total amnesty to 20 million, they in turn, can and will chain-migrate endless millions of their families into our country. This thing will become SO ugly on SO many levels, but we will become the victims and no one wins and everyone loses.
Amazingly enough, after the failure of the 1986 amnesty, our borders remain as porous as ever. Nothing in this bill shows any intention of enforcing past or current immigration employment, housing or transporting of illegal migrant laws. Thus, illegals will careen into our country in ever greater numbers.
Senator Chuck Schumer of New York said, “This is not amnesty — amnesty is the forgiveness of something. We’re going to create an alternative that says OK, you want to stay here, you’ll have to wait more than 10 years, you’ll have to pay this fine, you’ll have to pay your registration fee, you’ll have to be gainfully employed, you won’t qualify for any federal benefit, and then after all of that you don’t get to apply for anything until the enforcement mechanisms are in place.”
Schumer lies like a rug, like Al Capone, like a snake, like the 19 terrorists who flew airplanes into the Twin Towers and elsewhere.
- When the bill becomes law, every single illegal alien in America becomes legal.
- Legal status will never be revoked; it can and will only be expanded with every inevitable subsequent act of Congress.
- This amnesty will leader to more amnesties for millions of other aliens crossing our borders or overstaying their visas.
If you expect to save your own rear end and that of your children’s future, I implore you to join the following organizations for free and start sending pre-written faxes to your reps to defeat this bill.