The press conference at the National Press Club had a precise purpose. It was to expose, to as many people as possible, the gross deception of our presidential election process. It is controlled by the powerful elite to make sure that neither candidate of the two major parties will challenge the status quo. There is no real choice between the two major parties and their nominees, only the rhetoric varies. The amazingly long campaign is designed to make sure the real issues are ignored. The quotes I used at the press conference from insider Carroll Quigley and the League of Women voters strongly support this contention.
Calling together candidates from the liberal, conservative, libertarian and progressive constituencies, who are all opposed to this rigged process, was designed to alert the American people to the uselessness of continuing to support a process that a claims that one’s only choice is to choose the lesser of two evils and reject a principle vote that might challenge the status quo as a wasted vote.
Federal Reserve chairman Ben Bernanke folds his hands while testifying with US Treasury secretary Henry Paulson before the Senate banking committee on Tuesday. Photograph: Charles Dharapak/AP
The proposed $700bn bailout of US financial markets faced harsh criticism in Congress today, with liberals and conservatives both sceptical that granting the Bush administration power to buy up risky mortgages would avert further economic crisis.
Yet despite the wariness from the Senate banking committee, where Henry Paulson and Ben Bernanke appeared today, the financial rescue seems poised to win approval by next week at the latest.
“This is not something I wanted to ask for,” the US treasury secretary said, assuring senators that “I feel your frustrations” and “I’m angry” at the prospect of Wall Street firms getting saved by the government.
But Paulson and Bernanke did ask for broad latitude to decide which toxic assets would win a purchase by the government. Senators of both parties did not attempt to hide their anger at the request, citing the Bush administration’s previous assurances of market stability.
“We have been given no credible assurances that this plan will work,” Richard Shelby, the senior Republican on the banking panel, said. “Congress does not have time to determine if there are better alternatives.”
The committee’s Democratic chairman, Chris Dodd, questioned Paulson’s request for immunity from any legal or government review of his actions during the bailout process.
“After reading this proposal, I can only conclude that it is not just our economy that is at risk,” Dodd told the treasury secretary, “but our constitution as well.”
Rep. Ron Paul says the government’s solution to the crisis is the same as the cause of it — too much government.
(CNN) — Many Americans today are asking themselves how the economy got to be in such a bad spot.
For years they thought the economy was booming, growth was up, job numbers and productivity were increasing. Yet now we find ourselves in what is shaping up to be one of the most severe economic downturns since the Great Depression.
Unfortunately, the government’s preferred solution to the crisis is the very thing that got us into this mess in the first place: government intervention.
Such actions are just a mirror of our society.
If you have time do some research on Prozac, Zoloft and Ritalin(= Concerta) linked to school shootings and suicide. _________________________________________________________________________________
Sept. 23 (Bloomberg) — A student in Finland opened fire at his college in the western town of Kauhajoki, killing 10 people before turning his gun on himself, the government said, in the country’s second school shooting in a year.
Gunfire erupted at 10:54 a.m. local time, Interior Minister Anne Holmlund said, and police surrounded the catering school, about 330 kilometers (205 miles) from Helsinki. The suspect died from a gunshot wound to the head, said Rauno Ihalainen, director of the Pirkanmaa hospital district. At least one other person was injured in the incident.
This child just forgot to add Bush, Cheney, McCain, Clinton, Paulson etc.
The other side of the shirt should read: “Ron Paul, Freedom’s Best Friend.”
_________________________________________________________________________
An 11-year-old boy in Colorado was suspended from school after he refused to take off a shirt that read, “Obama is a terrorist’s best friend.” His father says that the school is violating his son’s First Amendment rights.
Daxx Dalton, a fifth grader at Aurora Frontier K-8 School in Aurora, Colo., wore the homemade shirt on a day when students were asked to show their patriotism by wearing red, white and blue, according to MyFOXColorado.com.
When he was given the choice of turning the shirt inside out or being suspended, Dalton chose suspension.
“They’re taking away my right of freedom of speech,” he said. “If I have the right to wear this shirt I’m going to use it. And if the only way to use it is get suspended, then I’m going to get suspended.”
“One bank to rule them all;
One bank to bind them…”
These are dark times. While you were sleeping the cockroaches were busy about their work, rummaging through the US Constitution, and putting the finishing touches on a scheme to assert absolute power over the nation’s financial markets and the country’s economic future. Industry representative Henry Paulson has submitted legislation to Congress that will finally end the pretense that Bush controls anything more than reading the lines from a 4′ by 6′ teleprompter situated just inches from his lifeless pupils. Paulson is in charge now, and the coronation is set for sometime early next week. He rose to power in a stealthily-executed Banksters’ Coup in which he, and his coterie of dodgy friends, declared martial law on the US economy while elevating himself to supreme leader.
“All Hail Caesar!” The days of the republic are over.
Section 8 of the proposed legislation says it all:
“Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency.”
Investment banks Goldman Sachs and Morgan Stanley have been put under Federal control as part of a package aimed at rescuing the US finance system.
The move not only puts the two financial services giants under the direct supervision of bank regulators but also gives the Fed the power to force the banks to raise additional capital.
The US administration wants to prevent the collapse of two of Wall Street’s remaining investment banks after the fall of Lehman Brothers and the government-funded bailouts of Bear Stearns, Merrill Lynch and global insurer AIG.
Have a look at the related articles from the Jerusalem Post:
“Column One: Israel must bomb Iran’s nuclear installations”
Warmongers ahead!?
Israel has according to Jimmy Carter around 150 nuclear weapons. Even if Iran wants to develop a nuclear weapon, is this reason enough for an attack? If so, then maybe someone should have been attacking Israel for developing 150 of them. And not just Israel is beating the war drums: Ron Paul: I hear members of Congress saying “if we could only nuke Iran”.
So Israel and/or the US might nuke Iran to prevent Iran from developing a nuclear weapon? How can you even come up with such madness? Are there so many potential Hitlers walking the face of the earth these days?
Politicians and military ‘experts’ may call this a ‘surgical strike’, but any attack on Iran will cause WW III. Basta! ___________________________________________________________________________
Sep 22, 2008 0:05 | Updated Sep 22, 2008 15:53 Source: The Jerusalem Post
Military intelligence: Iran halfway to first nuclear bomb
Iran is halfway to a nuclear bomb, and Hizbullah, Hamas and Syria are using this period of relative calm to significantly rearm, Brig.-Gen. Yossi Baidatz, the Military Intelligence’s head of research, told the cabinet Sunday during a particularly gloomy briefing on the threats facing the country.
Ahmadinejad: We’ll stop any attacker
Baidatz said there was a growing gap between Iran’s progress on the nuclear front and the West’s determination to stop it. “Iran is concentrating on uranium enrichment, and is making progress,” he said, noting that they have improved the function of their 4,000 centrifuges.
According to Baidatz, the Iranian centrifuges have so far produced between one-third to one-half of the enriched material needed to build a bomb.
“The time when they will have crossed the nuclear point-of-no-return is fast approaching,” he said, though he stopped short of giving a firm deadline. Last week in the Knesset’s Foreign Affairs and Defense Committee, however, he put the date at 2011.
Pakistan will not tolerate any infringement of its territory in the name of the war on terror, president Asif Ali Zardari said today in a clear warning to US forces who in recent months have increasingly crossed the border to kill Taliban and al-Qaeda terrorists.
Mr Zardari was making his first major address since being elected president earlier this month. He also pledged that Pakistan would fight terrorists based on its soil, and he promised that his own powers would be cut back.
In recent weeks unmanned Predator drones and even special forces have staged a number of attacks across the border from Afghanistan on terrorist targets, a sign of growing US frustration at the training camps and sanctuaries which have been out of their reach and, for the most part, untroubled by Pakistan’s own military.
The Pakistani President, Prime Minister and military chief of staff were due to attend a banquet at the Marriott Hotel in Islamabad, where bombers killed at least 53 people, but a last-minute change of venue saved them.
The disclosure that the leadership of the country was the likely target of the attack on Saturday came as militants kidnapped Afghanistan’s top diplomat in the country and British Airways suspended all flights to and from Pakistan because of security concerns.
Most economists don’t want it (see this and this).
Many congress people don’t want it (see here and here).
So who wants the bailout?
The only people who want it are the big money boys, the ultra elite, including the Wall Street fat cats and Fed who got us into this mess, and their counterparts abroad who would also be bailed out (see this and this).
It is literally America versus the financial elite.
Posted by George Washington
Monday, September 22, 2008
Traders work in the crude oil options pit on the floor of the New York Mercantile Exchange in New York, on Sept. 22, 2008. Photographer: Jin Lee/Bloomberg News
Sept. 22 (Bloomberg) — Crude oil climbed more than $25 a barrel, the biggest gain ever, as the dollar weakened the most against the euro since January 2001, boosting the appeal of commodities as a hedge.
The October contract, which expires today, rose almost $12 more than the contract for November delivery, as traders rushed to close positions. Oil, gold, corn and other commodities climbed as the dollar dropped on concern that a U.S. proposal to buy $700 billion of troubled assets from financial firms will deepen the budget deficit.
BEIJING (AFP) – China’s tainted milk scandal spiralled into uncharted territory Monday with the government announcing that up to 53,000 children had been sickened and its top product-quality inspector sacked.
In a dramatic update of previous figures, the health ministry said a total of 52,857 children were taken to hospital after drinking milk thought to have been contaminated by the industrial chemical melamine.
Most had “basically recovered” after developing kidney stones, the main symptom of drinking the tainted milk, but 12,892 of them remained in hospital, a health ministry official told AFP.
U.S. one dollar bills are displayed for a photograph in New York, April 15, 2008. Photographer: Daniel Acker/Bloomberg News
Sept. 22 (Bloomberg) — Treasury Secretary Henry Paulson‘s plan to end the rout in U.S. financial markets may derail the dollar’s three-month rally as investors weigh the costs of the rescue.
The combination of spending $700 billion on soured mortgage-related assets and providing $400 billion to guarantee money-market mutual funds will boost U.S. borrowing as much as $1 trillion, according to Barclays Capital interest-rate strategist Michael Pond in New York. While the rescue may restore investor confidence to battered financial markets, traders will again focus on the twin budget and current-account deficits and negative real U.S. interest rates.
``As we get to the other side of this, the dollar will get crushed,” said John Taylor, chairman of New York-based International Foreign Exchange Concepts Inc., the world’s biggest currency hedge-fund firm, which manages about $15 billion.
MOSCOW (AFP) – A fleet of Russian warships led by a massive missile cruiser set sail from their Arctic base on Monday for naval exercises off Venezuela near US waters that have not been seen since the Cold War.
“They left at 10:00 am (0600 GMT). It’s the nuclear-powered guided missile cruiser Peter the Great, the anti-submarine warship Admiral Chebanenko and other accompanying ships,” Russian navy spokesman Igor Dygalo told AFP.
Dygalo said he could not reveal how many ships were involved in the deployment or when they would arrive. The exercises in the Caribbean Sea are expected to take place in November or December, officials said.
The deployment follows the arrival of two Russian Tu-160 nuclear bombers in Venezuela earlier this month also for exercises, an event that Venezuelan President Hugo Chavez branded a “warning” to the US “empire.”
U.S. flags fly outside the headquarters of Goldman Sachs Group Inc., in New York, Sept. 16, 2008. Photographer: Gino Domenico/Bloomberg News
Sept. 22 (Bloomberg) — The Wall Street that shaped the financial world for two decades ended last night, when Goldman Sachs Group Inc. and Morgan Stanley concluded there is no future in remaining investment banks now that investors have determined the model is broken.
The Federal Reserve’s approval of their bid to become banks ends the ascendancy of the securities firms, 75 years after Congress separated them from deposit-taking lenders, and caps weeks of chaos that sent Lehman Brothers Holdings Inc. into bankruptcy and led to the rushed sale of Merrill Lynch & Co. to Bank of America Corp.
“The decision marks the end of Wall Street as we have known it,” said William Isaac, a former chairman of the Federal Deposit Insurance Corp. “It’s too bad.”
Goldman, whose alumni include Henry Paulson, the Treasury secretary presiding over a $700 billion bank bailout, and Morgan Stanley, a product of the 1933 Glass-Steagall Act that cleaved investment and commercial banks, insisted they didn’t need to change course, even as their shares plunged and their borrowing costs soared last week.
“The Secretary’s authority to purchase mortgage-related assets under this Act shall be limited to $700,000,000,000 outstanding at any one time.”
That means that Paulson could buy a couple hundred billion worth of assets one day, sell them, and then the next day buy another couple hundred billion, and so on.
The maximum price tag?
There is no maximum. Paulson could literally spend unlimited taxpayer monies. And remember that Paulson has already broadened the proposal to include the purchase of non mortgage-related assets.
2. Reaction: The elite made sure through corporate media that people will react a certain way. “We need to do something!”
3. Solution: The elite offers the “only” solution, which is “to safe” Wall Street’s elite who created the problem in the first place, relieving the major banks and investment firms of their mountainous rotten assets and let the taxpayers pay for it.
The much bigger problem is that the derivatives market is unwinding and that problem is to big to bail-out: According to the International Swaps and Derivatives Association, $62 trillion is the notional value of credit default swaps (CDS) out there, somewhere, in the market.
And so in the not too distant future the Dollar and the U.S. will most probably fail.
I would buy gold and silver and stock up food and water (etc.) to prepare myself for such an event.
Silver might be even the better investment. I see it not so much as an investment to make money, but rather as an investment to protect my future.
Sept. 21 (Bloomberg) — The Bush administration sought unchecked power from Congress to buy $700 billion in bad mortgage investments from financial companies in what would be an unprecedented government intrusion into the markets.
Through his plan, Treasury Secretary Henry Paulson aims to avert a credit freeze that would bring the financial system and the world’s largest economy to a standstill. The bill would prevent courts from reviewing actions taken under its authority.
“He’s asking for a huge amount of power,” said Nouriel Roubini, an economist at New York University. “He’s saying, `Trust me, I’m going to do it right if you give me absolute control.’ This is not a monarchy.”
The Large Hadron Collider has become fodder for tons of viral videos. Some are hilarious, others are informative, and the best are somewhere in between. Here are our favorites:
8. CERN Explained in 3 Minutes
A great introduction to the whole European Center for Nuclear Research, not just its highest profile project.
Speculators made a £190million profit from HBoS shares after details of takeover talks with Lloyds TSB were announced on the BBC
City watchdogs are expected to investigate how speculators made a £190million profit from HBOS shares in a frenzied two minutes of trading immediately before news of the bank’s rescue was made public.
Details of the takeover talks between the bank and Lloyds TSB were controversially announced by the BBC’s business editor Robert Peston on Wednesday morning.
Before his 9am broadcast, HBOS shares had dipped to a low of 88p. But his scoop sent the price rocketing to 215p in the space of an hour, giving the mystery buyers huge instant profits.
In just two deals between 8.57pm and 8.58pm, buyers snapped up more than 20million HBOS shares at 96p each, netting millions of pounds in profit.
An office worker looks at a screen showing trading on the FTSE 100 index
TAXPAYERS in Britain face up to 5p in the pound in extra taxes because of the credit crunch created by the banks, leading economists have warned.
After a week of unprecedented financial turmoil, they predict that government borrowing is about to surge as the Treasury’s tax take is slashed by a slump in earnings from the City and the downturn.
Leading forecasters say the government will soon be forced to borrow as much as £100 billion a year, giving Britain easily the biggest budget deficit of any western country.
Any tax rises would come on top of increases imposed by Gordon Brown when he was chancellor. He repeatedly raised indirect “stealth” taxes while leaving income tax unchanged. Taxes went up by 3% of national income, equivalent to more than 10p on the basic rate of income tax.
The warning coincides with news that American executives of the failed Lehman Brothers bank, parts of which were taken over by Barclays last week, will still receive millions in bonuses.
ROME:Alitalia might stop flying within a week if unions don’t change course and accept a rescue plan offered by Italian investors, Italy’s transport minister said Sunday.
The only hope for the survival of Italy’s bankrupt flagship airline is for union leaders to agree to the investors’ terms, and for the government to convince the investors to put the deal back on the table, Minister Altero Matteoli told Sky TG24 TV.
“Alitalia has only very few days left, surely less than a week,” unless a deal is made, he said.
The investors withdrew their offer to acquire some of Alitalia’s more potentially profitable assets after some unions, including pilots’ representatives, rebuffed the deal.
Other unions for Alitalia employees have accepted the plan, which calls for some 3,250 layoffs among the airline’s 20,000 workers, the elimination or reduction of loss-making routes and the sale of many aircraft.
Hard times: central banks have acted to avoid a repeat of 1929
So, here we are – the start of a new world order. After the tumultuous events of the last fortnight, the global economic landscape will never look the same again.
Power has tangibly shifted – away from the United States and the Western world generally, and towards the fast-growing giants of the East. That’s been happening for some years now.
But September 2008 marks the moment when the scale of our excesses, the extent of our debts and the moral bankruptcy of our financial regulatory system finally began to be truly exposed.
Dmitry Medvedev, the Russian president, yesterday vowed to defy Western attempts to isolate Moscow as he gave his backing to an ambitious re-armament programme.
Both Mr Medvedev and Vladimir Putin, the prime minister, resorted to the language of the Cold War as they pledged to increase defence spending by 50 per cent over the next three years.
But they also sought to portray Russia as the victim of Nato aggression.
As his parliament gave its support to the higher defence budget, Mr Medvedev accused the United States and its allies of seeking to isolate Russia behind “thick walls and an iron curtain.”
This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish.AcceptRejectRead More https://infiniteunknown.net/dsgvo/
Privacy & Cookies Policy
Privacy Overview
This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
