Month: March 2013

How Cyprus Exposed The Fundamental Flaw Of Fractional Reserve Banking

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– How Cyprus Exposed The Fundamental Flaw Of Fractional Reserve Banking (ZeroHedge, March 31, 2013):

In the past week much has been written about the emerging distinction between the Cypriot Euro and the currency of the Eurozone proper, even though the two are (or were) identical. The argument goes that all €’s are equal, but those that are found elsewhere than on the doomed island in the eastern Mediterranean are more equal than the Cypriot euros, or something along those lines. This of course, while superficially right, is woefully inaccurate as it misses the core of the problem, which is a distinction between electronic currency and hard, tangible banknotes. Which is why the capital controls imposed in Cyprus do little to limit the distribution and dissemination of electronic payments within the confines of the island (when it comes to payments leaving the island to other jurisdictions it is a different matter entirely), and are focused exclusively at limiting the procurement and allowance of paper banknotes in the hands of Cypriots (hence the limits on ATM and bank branch withdrawals, as well as the hard limit on currency exiting the island).

Read moreHow Cyprus Exposed The Fundamental Flaw Of Fractional Reserve Banking

Cyprus President’s Family Transferred TENS OF MILLIONS To London Days Before Deposit Haircuts

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– Cyprus President’s Family Transferred Tens Of Millions To London Days Before Deposit Haircuts (ZeroHedge, March 31, 2013):

A day after former Cypriot President Vassilou was found to be among many elite Cypriot (politicians and businessmen) who had loans written-off by the major (now insolvent) banks; it appears the rot is far fouler than expected. In a somewhat stunning (or purely coincidental) revelation, ENETEnglish reports that Cypriot newspaper Haravgi claims that current President Nicos Anastasiades’ family businesses transferred ‘dozens of millions’ from their Laiki Bank accounts to London just a week before the devastating depositor haircuts were unleashed upon his people. Of course, the denials are loud and Anastasiades has demanded an investigation into the claims; we are sure the government-selected ‘independent’ committee will be as thorough as the Libor anti-trust investigators. As a reminder, as we noted yesterday, here are Cyprus’ gun control laws.

Via EnetEnglish,

A company owned by in-laws of Cypriot President Nicos Anastasiades withdrew dozens of millions from Laiki Bank on March 12 and 13, according to an article published in Cypriot newspaper Haravgi.

Read moreCyprus President’s Family Transferred TENS OF MILLIONS To London Days Before Deposit Haircuts

Cyprus Parliament President Says ‘No Future’ Under Troika, Calls For ‘Iceland’ Solution

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Flashback:

– How Iceland Overthrew The Banks: The Only 3 Minutes Of Any Worth From Davos (Video)

– Impossible In America: ‘Executives At Collapsed Iceland Bank Jailed For Fraud’ (Reuters)

– The Icelandic Success Story

– Iceland’s Economy Now Growing Faster Than The U.S. And EU After Arresting The Banksters

– Here Is What Happens If You Do Not Bail Out The Banksters And Avoid Getting Raped By The IMF

– Two Thirds Of Icelanders Oppose EU Membership

– A Lesson For Europe: Why Iceland Won’t Join The Euro (Video)

– Iceland Once Again Tells IMF, UK, Netherlands To ‘Go to Hell’; ‘Ice Torture’ Repayment Scheme Collapses

– Cyprus Parliament President Says “No Future” Under Troika, Calls For “Iceland” Solution (ZeroHedge, March 30, 2013):

Just last week Yiannakis Omirou, Cypriot House of Representatives President, was calling for the nation to accept it is “time for responsibility” as they progressed towards a final solution; and yet today, as Cyprus’ Famagusta reports, he believes the ‘Troika-imposed’ responsibility will, “turn Cyprus into a colony of the worst possible type.” His ‘Icelandic’ solution is to “leave the Troika and EMS behind,” to ensure “national independence, national sovereignty, moral integrity, and economic independence.” He may have a point; judging from the chart below of the Troika’s poster-child Greece, relative to Iceland, things are not going so well. As Omirou ominously concludes, “if we remain bound by the Troika and the memorandum Cyprus’ destiny is already foretold and there will be no future.”

Via Famagusta Gazette,

There is no other alternative but to free Cyprus from the bonds of the troika and the memorandum, House of Representatives President Yiannakis Omirou has said.

Read moreCyprus Parliament President Says ‘No Future’ Under Troika, Calls For ‘Iceland’ Solution

Fusion Center Director: We Don’t Spy On Americans, Just Anti-Government Americans

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– Fusion center director: We don’t spy on Americans, just anti-government Americans (RT, March 29, 2013):

Law enforcement intelligence-processing fusion centers have long come under attack for spying on Americans. The Arkansas director wanted to clarify the truth: centers only spies on some Americans – those who appear to be a threat to the government.

In trying to clear up the ‘misconceptions’ about the conduct of fusion centers, Arkansas State Fusion Center Director Richard Davis simply confirmed Americans’ fears: the center does in fact spy on Americans – but only on those who are suspected to be ‘anti-government’.

“The misconceptions are that we are conducting spying operations on US citizens, which is of course not a fact. That is absolutely not what we do,” he told the NWA Homepage, which supports KNWA-TV and Fox 24.

After claiming that his office ‘absolutely’ does not spy on Americans, he proceeded to explain that this does not apply to those who could be interpreted as a ‘threat’ to national security. Davis said his office places its focus on international plots, “domestic terrorism and certain groups that are anti-government. We want to kind of take a look at that and receive that information.”

Read moreFusion Center Director: We Don’t Spy On Americans, Just Anti-Government Americans

PM Julia Gillard Set To Sign China Currency Deal Enabling The Australian Dollar To Be Converted Directly Into Chinese Yuan

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– PM set to sign China currency deal in boost to exporters (The Australian, March 30, 2013):

A CURRENCY deal enabling the Australian dollar to be converted directly into Chinese yuan, slashing costs for thousands of businesses, is set to be the centrepiece of Julia Gillard’s mission to China next weekend.

Australia would become the third country, after the US and Japan, to secure such an arrangement from China, which is Australia’s top trading partner, with exports and imports totalling $120 billion last financial year.

At present, companies doing business with China must pay the added cost of converting their Australian dollars into US dollars or yen, and then into yuan.

Read morePM Julia Gillard Set To Sign China Currency Deal Enabling The Australian Dollar To Be Converted Directly Into Chinese Yuan

The Federal War On Hemp

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– The Federal War on Hemp (The Future of Freedom Foundation, March 28, 2013):

It is one of the earliest-known domesticated plants. It is resistant to saltwater. It doesn’t require pesticides or harsh fertilizers. For hundreds of years all the major European maritime powers needed it to maintain their fleets. Its fiber is suitable for making clothes, paper, building material, and insulation. It can be turned into biofuel and converted to biomass. Mechanical Engineering magazine once hailed it as “the most profitable and desirable crop that can be grown.” It has nutritional benefits. It can be used as animal bedding. It can be used in the production of soap and cosmetics. It is biodegradable. Rudolph Diesel designed his engine to run on its oil.

Read moreThe Federal War On Hemp

The Puppet Master: Government

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– The Puppet Master: Government (ZeroHedge, March 30, 2013):

It has been well and often said that only two types of “paper” money have ever existed in history – those that are already worthless and those that are going to be. Eventually, the physical pieces of paper or plastic which have been given a function as a medium of exchange by government order may remain – but their purchasing power on the market does not. The transition point always comes when the “promises to pay” on which the fiat money depends are exposed beyond the possibility of denial to be the LIES which they always were. History is replete with examples, yet very few ask the obvious question: “Pay? – WITH WHAT??” One of the great wonders of the twentieth century was the lengths to which the economics “profession” proved willing to go to avoid even facing that question let alone trying to answer it.

Read moreThe Puppet Master: Government

Criminal Act: The European Union’s Financial Looting of Cyprus

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Related info:

– Cyprus: Why Big Depositors Are Facing A Complete Wipe Out

– Another Non-Russian, Non-Oligarch, Non-Billionaire, Non-Tax Evader Speaks Up: ‘I Went To Sleep Friday A Rich Man, I Woke Up Poor’

– TOTAL ECONOMIC COLLAPSE AWAITS CYPRUS – Caught In The Cyprus Crossfire: Small Businesses Suddenly With Zero Cash

– Have The Russians Already Quietly Withdrawn All Their Cash From Cyprus? … YES!!!

– Criminal Act: The European Union’s Financial Looting of Cyprus (Global Research, March 29, 2013):

The bailout imposed on Cyprus by the European Union (EU) is a politically criminal act of financial looting, aimed at destroying the country’s banks and reducing the working class to penury.

In the name of avoiding state bankruptcy, the small Mediterranean island of some one million people is being subjected to the type of shock-therapy already inflicted on Greece.

The terms of the €10 billion loan dictated by the EU, European Central Bank (ECB) and the International Monetary Fund include winding up Laiki bank—Cyprus’ second-largest bank—and transferring its debts to the ECB to the Bank of Cyprus, which also faces major restructuring. An additional €5.8 billion is to be raised by imposing severe penalties, of 40 percent and more, on bondholders and those with bank deposits over €100,000.

Read moreCriminal Act: The European Union’s Financial Looting of Cyprus

Utah Sheriffs Association To Obama: From Our Cold Dead Hands

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– Utah Sheriffs Association to Obama: From Our Cold Dead Hands (Breitbart, March 28, 2013):

As sheriffs across the nation signal opposition to enforcing additional federal gun regulations, the Utah Sheriffs’ Association sent a letter to President Obama assuring him that its members similarly will not comply.

The letters insists that the rights of Utah citizens trump any new gun control measure that Congress might pass, and sheriffs in Utah are prepared to trade their lives in defense of their constituents’ right to keep and bear arms.

The letter, signed by 28 of Utah’s 29 sheriffs, sternly rejects the citation of recent tragedies as Congress’s rationale for expanded gun regulations:

Read moreUtah Sheriffs Association To Obama: From Our Cold Dead Hands

California’s Gun Repo Men Have A Nerve-Racking Job

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FYI.

Related info:

– Red Alert: POLICE Disarming Citizens BY FORCE in Connecticut NOW! (Video)

– California’s Gun Repo Men Have A Nerve-Racking Job (Bloomberg, March 21, 2013):

On the evening of March 5, nine agents from the California Department of Justice, wearing bulletproof vests and carrying Glock pistols, assembled outside a ranch-style house in a Los Angeles suburb. They were preparing to confiscate weapons from a gun owner who’d recently lost the right to possess firearms after spending two days in a psychiatric hospital. They knocked on the door and asked to come in. These touchy encounters sometimes end in anger and, occasionally, handcuffs. This time, the agents came out peacefully with three guns. Then it was on to the next stop on the list for that night.

California is the only state that takes legally obtained weapons away from citizens who are no longer supposed to have them. There are almost 20,000 such gun owners, state records show, including convicted felons, people under domestic violence restraining orders, or those deemed mentally unstable. “What do we do about the guns that are already in the hands of persons who, by law, are considered too dangerous to possess them?” California Attorney General Kamala Harris wrote to Vice President Biden after the shootings in Newtown, Conn. She recommended that Biden, heading a White House review of gun policy, look to California as a model.

Read moreCalifornia’s Gun Repo Men Have A Nerve-Racking Job

Horror in Israel: Hacker Group ‘Anonymous’ Exposes 30,000 Mossad Spies

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Gordon Duff is a Marine Vietnam veteran, a combat infantryman, and Senior Editor at Veterans Today. His career has included extensive experience in international banking along with such diverse areas as consulting on counter insurgency, defense technologies or acting as diplomatic representative for UN humanitarian and economic development efforts. Gordon Duff has traveled to over 80 nations. His articles are published around the world and translated into a number of languages. He is regularly on TV and radio, a popular and sometimes controversial guest.

– Horror in Israel: 30,000 Mossad spies exposed (Press TV, by Gordon Duff, March 30, 2013):

Last week, the hacker organization “Anonymous,” symbolized by the famous “Guy Fawkes” mask, hacked Israel’s Mossad.

The hack, initially exposing a hidden network of 30,000 covert operatives, some openly labeled “hitman,” came only days after Israel admitted to their 2010 act of piracy and terrorism against the Freedom Flotilla.

Now the Israeli regime has filled the internet with threats against “Anonymous,” if detailed information on their terror cells is leaked.

After all, who is better to carry out acts of terrorism than an organization with 30,000 covert operatives around the world, almost all trained in use of explosives and demolition, building IEDs, car bombs, kidnapping and assassination and with a long and very public history of, not just murdering people but getting away with it as well.

Read moreHorror in Israel: Hacker Group ‘Anonymous’ Exposes 30,000 Mossad Spies

Who’s Next? Italy’s Monte Dei Paschi Admits To ‘The Withdrawal Of A Few Billion Euros In Deposits’

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– Who’s Next? Italy’s Monte Paschi Admits To Billions In Deposit Outflows (ZeroHedge, March 30, 2013):

It appears, given news from Italy today, that European depositors are increasingly coming to the realization that deposits in their local bank are not ‘safe’ places to put their spare cash, but are in fact loans to extremely leveraged businesses. In a somewhat wishy-washy, ‘hide-the-truth’-like statement on Monte dei Paschi’s website, the CEO admits to, “the withdrawal of several billion in deposits.” Of course, the reasons why these depositors withdrew their capital from the oldest bank in the world will never be known though of course he blames it on “reputational damage” from their derivative cheating scandal. Apparently the fact that this happened to come about six week after said scandal and the bank’s third bailout, and that the prior two bailouts did not result in such an outflow of unsecured liabilities (at least not to the public’s knowledge), was lost on the senior management, as was lost that a far greater catalyst may have been the slightly more troubling events in Cyprus in the second half of March. Unsurprisingly, as Reuters notes, the CEO declined to give a forecast on the level of deposits at the end of the first quarter of 2013; no wonder given the bank just doubled its expectations for bad loans and the ‘Cypriot Solution’ dangling over uninsured depositor hordes.

Via Reuters,

Customers’ deposits at Italian bank Monte dei Paschi fell by “a few billion euros” … the bank said in a document posted on its web site on Saturday.

Read moreWho’s Next? Italy’s Monte Dei Paschi Admits To ‘The Withdrawal Of A Few Billion Euros In Deposits’

Political Fallout Begins: Former Cyprus President Named In Loan Write-Offs Leading To Banking Insolvency

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– Political Fallout Begins: Former Cyprus President Named In Loan Write-Offs Leading To Banking Insolvency (ZeroHedge, March 30, 2013):

A few days ago, when news hit that Cyprus has begun investigating who the people were who had managed to pull cash out of nation’s insolvent banks, both during the capital control “blackout” period and previously, we asked “how much longer will the rule of law remain in Cyprus once full blown class warfare is unleashed, and the 99% are generously handed the list of the 1% who were “informed” enough to pull their money from the flaming sovereign equivalent of Bernie Madoff, while every other uninsured depositor is facing losses of up to 80%, and soon 100%?” We may get the answer much sooner than expected, as the first iteration of this list: one naming the beneficiaries of millions of loans written off by the now insolvent Cyprus banks and therefore indirectly responsible for the “impairment” of the banks’ depositors, was released yesterday by Greece’s daily Ethnos newspaper. But what virtually assures substantial political fallout is that among the people listed is Cyprus’ former president, George Vassiliou.

Kathimerini summarized the situation as follows:

Read morePolitical Fallout Begins: Former Cyprus President Named In Loan Write-Offs Leading To Banking Insolvency

Companies Cut Hours Of Full-Time Employees To Avoid Obamacare

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– Obamacare prompts fears for low-wage workers as employers exploit the rules (Guardian, March 29, 2013):

Labour groups warn some big firms are cutting workers’ full-time hours to avoid paying health costs for those who need it most

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– Companies cut hours of full-time employees to avoid health care (Press TV, March 29, 2013):

Under the law that takes effect next year, large employers are exempted from contributing anything towards healthcare costs of employees who work under 30 hours a week.

For full-time workers, companies must offer affordable insurance or face steep fines. Employers seeking to dodge this responsibility could impose 29-hour ceiling on workers, Flocks says, and push many onto public insurance subsidies, straining state and federal budgets.

Three years after the passage of Barack Obama’s signature healthcare law, labor advocates are warning that it could have the unforeseen consequence of harming some of the very low-wage employees it seeks to aid.

The legislation’s incentive scheme, they say, could cause a shift toward part-time work that extends beyond companies like Papa John’s and Darden Restaurants, which last year publicized their plans to cut employee hours to avoid costs under the new law.

According to Sara Flocks, Public Policy Coordinator for the California Labor Federation, most at risk is the so-called contingent workforce: those employees with already fluctuating hours, no job security, and little power to bargain with management.

These are the workers whose hours can most easily be slashed by employers seeking to avoid paying health insurance. The Raw Story


Big Banks Win Again As Judge Tosses Antitrust Claims In Libor Lawsuit

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– Banks Win Again As Judge Tosses Antitrust Claims In Libor Lawsuit (ZeroHedge, March 30, 2013):

With all the recent chatter about an overhaul and dismantling of Too Big To Fail banks (spoiler alert: it will never happen, but it will take a lot of theater before that is made quite clear) many can be excused for believing the balance of power has shifted away from the megabanks (and their tens of trillions in over the counter derivative “weapons of mass financial destruction” so ably facilitating the Stockholm Syndrome of global mutual assured destruction with each passing day) and in the favor of the people, represented by the legislative (the same people who are multi-millionaires mostly courtesy of endless financial lobbying) and the judicial.

Read moreBig Banks Win Again As Judge Tosses Antitrust Claims In Libor Lawsuit

Big Government: An Unnecessary Evil That Should Be Abolished

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– Big Government: An Unnecessary Evil That Should Be Abolished (ALT-MARKET, March 30, 2013):

There are two types of people in this world; those who worship the ideal of centralized command authority, and those who do not.  Those who value freedom regardless of risk or pain, and those who value slavery in a desperate bid to avoid risk and pain.  When I consider the ultimate folly of man, in the end I look to the meek and unquestioning masses who strive to avoid risk, because it is they who always end up feeding the machines of war, despair, and tyranny.  The power thirsty halls of elitism surely instigate and manipulate the tides of this wretched ocean of quivering souls, but ultimately, the weak-hearted and weak minded make all terrible conquests possible.

Read moreBig Government: An Unnecessary Evil That Should Be Abolished

North Korea Says It Has Entered State Of ‘War’ Against South Korea, Will Deal With Every Inter-Korean Issue In Wartime Manner

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I guess there are many who are monitoring this situation very closely now, because of Major Ed Dames’ predictions:


YouTube Added: 24.01.2013

Description:

Former military Major in charge of remote viewing, Ed Dames, discusses predictions of coming events.

– North Korea Says It Enters “War” Against South Korea, And North Korea Kaption Kontest (ZeroHedge, March 29, 2013):

Ordinarily this would be Good Friday humor (unless we are very wrong, and it turns out to be Good Friday Global Thermonuclear War) because when one cries wolf a few too many times, this is what happens (from Yonhap):

North Korea announced Saturday that it has entered a state of war against South Korea.

In a special statement, the North said it will deal with every inter-Korean issue in a wartime manner.

Read moreNorth Korea Says It Has Entered State Of ‘War’ Against South Korea, Will Deal With Every Inter-Korean Issue In Wartime Manner

Cyprus: Why Big Depositors Are Facing A Complete Wipe Out

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Related info:

– Another Non-Russian, Non-Oligarch, Non-Billionaire, Non-Tax Evader Speaks Up: ‘I Went To Sleep Friday A Rich Man, I Woke Up Poor’

– TOTAL ECONOMIC COLLAPSE AWAITS CYPRUS – Caught In The Cyprus Crossfire: Small Businesses Suddenly With Zero Cash

– Have The Russians Already Quietly Withdrawn All Their Cash From Cyprus? … YES!!!

– And Scene: Big Cypriot Depositors Facing Complete Wipe Out (ZeroHedge, March 29, 2013):

9.9%? 30%? 60%? 80%? Nope – according to the latest from Reuters, the cash-on-cash return to all uninsured depositors in the healthy, i.e., only remaining big Cyprus bank, will be a big, fat doughnut.In what appears to be drastically worse than many had hoped (and expected), uninsured depositors in Cyprus’ largest bank stand to get no actual cash back from their initial deposit as the plan (expected to be announced tomorrow) is:

  • 22.5% of the previous cash deposit gone forever (pure haircut)
  • 40% of the previous cash deposit will receive interest (but will never be repaid),
  • and the remaining 37.5% of the previous cash deposit will be swapped into equity into the bank (a completely worthless bank that is of course.)

So, theoretically this is 62.5% haircut but once everyone decides to ‘sell’ their shares to reconstitute some cash then we would imagine it will be far greater. Furthermore, at what valuation will the 37.5% equity be allocated (we suspect a rather aggressive mark-up to ‘market’ clearing levels).

Critically though, there is no cash. None. If you had EUR150,000 in the bank last week (net of insured deposits which may well be impaired before all is said and done) you now have EUR0,000 to draw on! But will earn interest on EUR60,000 (though we do not know at what rate); and own EUR56,250 worth of Bank of Cyprus shares (the same bank that will experience the slow-burn leak of capital controlled outflows).

It seems, just as we warned, that the deposit outflow leakage that we discussed did indeed weaken the situation of the large banks significantly.

As Reuters adds, the toughening of the terms will send a clear signal that the bailout means the end of Cyprus as a hub for offshore finance and could accelerate economic decline on the island and bring steeper job losses.

– Big depositors in Cyprus to lose far more than feared (Reuters, March 29, 2013):

Big depositors in Cyprus’s largest bank stand to lose far more than initially feared under a European Union rescue package to save the island from bankruptcy, a source with direct knowledge of the terms said on Friday.

Read moreCyprus: Why Big Depositors Are Facing A Complete Wipe Out

‘Betray Your Bank Before Your Bank Betrays You’ (Bloomberg)

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– Betray Your Bank Before Your Bank Betrays You (Bloomberg, March 28, 2013):

What’s a Slovenian with several hundred thousand euros in the bank supposed to do? Spread it out among at least a few different banks, that’s what. Or move the money out of the country, while it’s still possible.

Imagine what must be on the minds of any savvy depositors still left at Nova Kreditna Banka Maribor d.d., now 79 percent- owned by Slovenia’s government. It was one of only four lenders in October that failed the European Banking Authority’s latest capital-adequacy test, a ritual best known for how lax its standards are. One that flunked was Bank of Cyprus Pcl, where uninsured depositors face 40 percent losses as part of the country’s bailout terms. Another was Cyprus Popular Bank Pcl, also known as Laiki Bank, where uninsured deposits will fare far worse and the bank is being shut.

Cypriot banks’ customers were complacent after uninsured deposits went unscathed in Ireland, Greece, Spain and Portugal, the first euro-area countries to seek international rescues. Slovenians won’t have that excuse should their country be next.

Read more‘Betray Your Bank Before Your Bank Betrays You’ (Bloomberg)

Former MSNBC Host Dylan Ratigan Quits TV To Run Organic Hydroponic Farm

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– Former MSNBC host Dylan Ratigan quits TV to run organic hydroponic farm (The Raw Story, March 20, 2013):

Former MSNBC host and author of the book Greedy Bastards Dylan Ratigan has announced that after leaving his show in June of 2012, he has re-launched his life as an organic, hydroponic farmer. In an open letter on his website DylanRatigan.com, Ratigan proclaimed that his life changed direction when he found himself burnt out by “hollow political debates” and “in search of meaning and purpose in my work and life.”

Ratigan said that it was meeting a Marine combat veteran war protester and his wife who appeared on “The Dylan Ratigan Show” in June that inspired him. The couple explained to him a technique for hydroponic farming that reportedly  uses 90 percent less water than a conventional farm, but produces three times as much food.

Read moreFormer MSNBC Host Dylan Ratigan Quits TV To Run Organic Hydroponic Farm

BRICS Nations Plan New Bank To Replace World Bank, IMF

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– BRICS Nations Plan New Bank to Bypass World Bank, IMF (Bloomberg, March 26, 2013):

The biggest emerging markets are uniting to tackle under-development and currency volatility with plans to set up institutions that encroach on the roles of the World Bank and International Monetary Fund.

The leaders of the so-called BRICS nations — Brazil, Russia, India, China and South Africa — are set to approve the establishment of a new development bank during an annual summit that began today in the eastern South African city of Durban, officials from all five nations say. They will also discuss pooling foreign-currency reserves to ward off balance of payments or currency crises.

Read moreBRICS Nations Plan New Bank To Replace World Bank, IMF

State Ban On UN Agenda 21 Clears Arizona Senate

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– State Ban on UN Agenda 21 Clears Arizona Senate (The New American, March 27, 2013):

Under immense pressure from grassroots activists across the political spectrum, lawmakers in the Arizona Senate approved legislation last week that would ban the controversial United Nations “sustainable development” scheme known as UN Agenda 21 within the state. The measure in Arizona follows similar efforts in other states and comes amid increasing nationwide outrage about the international so-called “sustainability” plot, which according to UN documents aims to radically restructure human civilization under the guise of environmentalism and fighting poverty.

The legislation, S.B. 1403, is summarized in the bill as “an act prohibiting the state and its political subdivisions from recognizing the United Nations or any of its declarations as legal authority in this state.” Specifically targeted are the UN “Rio Declaration on Environment and Development” and the “Statement of Principles for Sustainable Development” adopted by dictators and national governments at the 1992 international “sustainability” summit held in Rio de Janeiro.

“Notwithstanding any other law, the state of Arizona and all political subdivisions of this state … shall not recognize the United Nations or any of its declarations as legal authority in this state,” the legislation reads, pointing out that officials are bound by their oaths to the Constitution. Political subdivisions are defined in the bill as the state, county, city, or town governments, as well as any “special districts” authorized by local officials.

Read moreState Ban On UN Agenda 21 Clears Arizona Senate

Top 10 Excuses For Obama Signing The ‘Monsanto Protection Act’

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Related info:

– Obama’s ‘Monsanto Protection Act’ Bill Hands The Biotech Industry The Power To Nullify The Decisions Of Federal Courts

– ‘Monsanto Protection Act’ Written By Monsanto-Sponsored Senator

– Outrageous Betrayal Of All Americans: President Obama Signs ‘Monsanto Protection Act’ Into Law

– Top 10 excuses for Obama signing the Monsanto Protection Act (Jon Rappoport’s Blog, March 28, 2013):

Yes, he signed HR 993. It was a bill funding the federal government. There was a rider in it. A Monsanto and biotech rider.

The gist of the rider is: a dangerous ghoulish GMO food crop can’t be stopped by a court order. That crop can still be grown, harvested, and sold in the US.

Isn’t that wonderful? Isn’t it grand?

250,000 people signed an emergency letter to Obama, telling him to send HR 993 back to Congress so the rider could be removed. He didn’t.

Read moreTop 10 Excuses For Obama Signing The ‘Monsanto Protection Act’