Federal Reserve Opens Line Of Credit To Europe

See also:

Stephen Pope of Cantor Fitzgerald on ECB buying government bonds: ‘This is total, undiluted quantitative easing.’ (Forbes):

What worries Pope is a question that is nagging many veteran market pundits: Where is the money going to come from? In the quantitative easing followed by the Federal Reserve and the Bank of England the money was created by simply expanding the balance sheets and literally printing money.

Pope says that the European Central Bank quantitative easing bond purchases will be “sterilized” so there will be no expansion of the monetary base and the ECB balance sheet.

Pope, quite understandably, says, “I still want to know where the money will come from.”

ECB Resorts to ‘Nuclear Option,’ Intervenes in Bond Market to Fight Euro Crisis (Bloomberg)

Now we know where the money comes from!


federal-reserve

WASHINGTON (AP) — The Federal Reserve late Sunday opened a program to ship U.S. dollars to Europe in a move to head off a broader financial crisis on the continent.

Other central banks, including the Bank of Canada, the Bank of England, the European Central Bank, the Swiss National Bank and the Bank of Japan also are involved in the dollar swap effort.

The move comes after the European Union and International Monetary Fund pledged a nearly $1 trillion defense package for the embattled euro, hoping to calm jittery markets and halt attacks on the eurozone’s weakest members. The ECB also jumped into the bond market Sunday night, saying it is ready to buy eurozone bonds to shore up liquidity in “dysfunctional” markets.

The Fed’s action reopens a program put in place during the 2008 global financial crisis under which dollars are shipped overseas through the foreign central banks. In turn, these central banks can lend the dollars out to banks in their home countries that are in need of dollar funding to prevent the European crisis from spreading further.

The Fed said action is being taken “in response to the reemergence of strains in U.S. dollar short-term funding markets in Europe,” and to prevent the spread of that strain to other markets and financial centers.

Read moreFederal Reserve Opens Line Of Credit To Europe

Stephen Pope of Cantor Fitzgerald on ECB buying government bonds: ‘This is total, undiluted quantitative easing.’

See also:

ECB Resorts to ‘Nuclear Option,’ Intervenes in Bond Market to Fight Euro Crisis (Bloomberg)


ecb

European Central Bank Sleds The Slippery Slope (Forbes):

Despite the optimism in markets, the European Central Bank’s latest moves put it on a slippery slope, raising doubt about its credibility.

“I see that the European Central Bank will start buying Eurozone government bonds,” writes Stephen Pope, chief global equity strategist at Cantor Fitzgerald in London. “This is total, undiluted quantitative easing.”

It also represents backpedaling by the European Central Bank. “I recall Trichet saying he would never go down the route followed by the Fed and the Bank of England,” says Pope.  “Of course events can always force a change of mind but does JCT have any credibility left?”

What worries Pope is a question that is nagging many veteran market pundits: Where is the money going to come from? In the quantitative easing followed by the Federal Reserve and the Bank of England the money was created by simply expanding the balance sheets and literally printing money.

Pope says that the European Central Bank quantitative easing bond purchases will be “sterilized” so there will be no expansion of the monetary base and the ECB balance sheet.

Pope, quite understandably, says, “I still want to know where the money will come from.”

ECB Resorts to ‘Nuclear Option,’ Intervenes in Bond Market to Fight Euro Crisis

The ECB does not want to call it quantitative easing (= printing money = creating money out of thin air = increasing the money supply = inflation = tax on monetary assets = looting of the people) yet.

Interesting how the Federal Reserve, the Bank of England and the ECB (with the corresponding governments creating record deficits) are all using policies that rob the middle class and the poor:

“When a country embarks on deficit financing and inflationism (quantitative easing) you wipe out the middle class and wealth is transferred from the middle class and the poor to the rich.”
– Ron Paul

“The Federal Reserve System is nothing more than legalized counterfeit.”
– Ron Paul

The market is not ‘dysfunctional’, but all those stimulus packages, bailouts and quantitative easing make it totally dysfunctional.

The goal of the elite criminals is the New World Order:

ECB President Jean-Claude Trichet calls for ‘Global Governance’ at the Council on Foreign Relations (Forbes)


european-central-bank-ecb
The European Central Bank (ECB) headquarters in Frankfurt. (Bloomberg)

May 10 (Bloomberg) — The European Central Bank said it will buy government and private bonds as part of an historic bid to stave off a sovereign-debt crisis that threatens to destroy the euro.

The ECB wants “to address severe tensions in certain market segments which are hampering the monetary policy transmission mechanism and thereby the effective conduct of monetary policy,” the central bank said in a statement at 3:15 a.m. in Frankfurt. The announcement came less than an hour after European finance ministers unveiled a loan package worth almost $1 trillion to staunch the market turmoil.

Resorting to what some economists have called the “nuclear option,” the ECB may open itself to the charge it’s undermining its independence by helping governments plug budget holes. Four days ago, ECB President Jean-Claude Trichet said bond purchases hadn’t been discussed when members of the bank’s 22-member Governing Council met to set interest rates in Lisbon.

By deciding to “go in and buy sovereign and corporate debt, they crossed a line,” said David Kotok, chairman and chief investment officer at Cumberland Advisors Inc., which manages about $1.4 billion in Vineland, New Jersey. “The line between fiscal and monetary policy gets blurred.”

The euro jumped to $1.2982 at 8:30 a.m. in Frankfurt from $1.2755 at the end of last week.

‘Dysfunctional’ Markets

The ECB said it will intervene in “those market segments which are dysfunctional,” suggesting it views the surge in some of the region’s bond yields as unjustified and that it’s acting to stabilize markets and protect the 16-nation economy.

Read moreECB Resorts to ‘Nuclear Option,’ Intervenes in Bond Market to Fight Euro Crisis

If Joe Lieberman’s draconian anti-terror bill becomes law, the Times Square bomb will have worked

A draconian bill proposed by the independent senator would open a Pandora’s box of civil liberties issues

joseph_lieberman
Joseph Lieberman

Bombs do not always have to explode to have their desired impact. That would appear to be a simple, and disturbing, lesson to draw from the failed attempt to set off a car bomb in Times Square, New York, last weekend.

If you assume that one of the main aims of terrorists is to use fear to force Americans to change their open society, then the attack, allegedy carried out by Faisal Shahzad, succeeded perfectly well. It took only a few days after the bomb was discovered for independent Connecticut senator Joe Lieberman to propose a draconian new law that would strip US citizenship from anyone linked to foreign terrorists. His move was swiftly backed by leading Republicans.

The bill is a nightmare for those who believe that a democratic society’s greatest strength lies in the primacy of the impartial rule of law. “If you have joined an enemy of the United States in attacking the United States to try to kill Americans, I think you sacrifice your rights of citizenship,” Lieberman said. The point would be that stripping someone of their citizenship would remove many legal rights. It follows on from the outrage that many Republicans expressed when Shahzad – who is an American – was read his Miranda rights as he was arrested.

Read moreIf Joe Lieberman’s draconian anti-terror bill becomes law, the Times Square bomb will have worked

The Greek Spirit of Resistance Turns Its Guns on The IMF

Max Keiser on Greece: ‘The IMF is a Financial Mafia’:

“The only solution for Greece is to arrest the Goldman Sachs bankers immediately and all those involved in the fabrication of Greek economic data in 2000, when you became a member of the eurozone. The next step is to nationalize all banks like Sweden did in 1993. The International Monetary Fund is that last thing you need. You will lose your sovereignty. It exercises terrorism. You will be raped in such a way, that it will be the worst pain you have ever felt.

If someone burns down your house in order to sell you charcoal, would you consider this logical? That is exactly what Goldman Sachs did to the Greek economy. They burned you down like arsonists and then they tell you not to worry they’ll give you charcoal. It’s outrageous. The IMF has said that it can provide Greece with help. The Wall Street investment hedge funds are attacking Greece’s bond market so that the Greek economy collapses. And they’re doing this for a simple reason; to force the Greek people to ask for help from the IMF. The IMF will say, we came because you asked for our help. Wall Street bankers work very closely with the IMF. It’s a financial mafia and the hedge funds are the assassins. Research conducted on Goldman Sachs in the USA and in Europe show how big a mafia it is. They are involved in illegal activity throughout the world.


Years of national denial about looming bankruptcy have turned to resentment as Greece is told how it must tackle its debt crisis

greece-imf-riot-police-athens
Riot police, Athens, 5 May 2010. (AFP/Getty Images)

Deep inside the august halls of Athens University, the renowned political commentator Paschos Mandravelis will deliver a message this week that until very recently was lost on most Greeks.

His speech will focus on a single fact: that the country in the centre of the storm of Europe’s worst crisis since the creation of the common market, missed the biggest story ever – its own looming bankruptcy. “Everyone,” he says, “starting with the Greek media, was in an incredible state of denial.”

Read moreThe Greek Spirit of Resistance Turns Its Guns on The IMF

EU Readies Emergency Fund Said to Be $645 Billion to Fight Off `Wolfpack,’ Debt Crisis

emergency-meeting-of-european-union-finance-ministers-in-brussels-on-may-9
George Papaconstantinou, Greece’s finance minister, left, speaks with Brian Lenihan, Ireland’s finance minister, center, and Alistair Darling, U.K. chancellor of the exchequer, at the emergency meeting of European Union finance ministers in Brussels on May 9, 2010. Photographer: Jock Fistick/Bloomberg

May 9 (Bloomberg) — European Union finance ministers pledged to stop a sovereign-debt crisis from shattering confidence in the euro as they held an emergency summit to hammer out a lending mechanism that may be worth around $645 billion.

Jolted into action by last week’s slide in the currency to a 14-month low and soaring bond yields in Portugal and Spain, leaders of the 16 euro nations agreed on the backstop yesterday and told ministers to get it ready before Asian markets open. The European facility may be worth around 500 billion euros, said an official familiar with the talks.

“We are going to defend the euro,” Spanish Economy Minister Elena Salgado told reporters as she arrived to chair today’s Brussels meeting. “We think we have a duty for more stability for our currency. We will do whatever is necessary.”

Read moreEU Readies Emergency Fund Said to Be $645 Billion to Fight Off `Wolfpack,’ Debt Crisis

Another knife attack in China: Man stabs eight people to death

See also:

Chinese police told ‘shoot to kill’ to protect pupils (Times Online):

Police in a Chinese city have been given shoot-to-kill powers at schools after a series of attacks against young pupils left eight dead and dozens wounded.

The extreme measure is a sign of the nervousness across China as classes resumed after the three-day May Day holiday weekend.

China’s Ministry of Public Security issued an emergency notice at the weekend ordering tighter security at schools and kindergartens nationwide after three attacks on schools in as many days last week left nearly 50 children and several teachers injured.



China has suffered another multiple stabbing when a man went on the rampage killing eight people including his wife and daughter.

In the latest of a series of attacks that have raised concerns over the stability of Chinese society, Zhou Yezhong killed his wife and child, four neighbours and a migrant worker during the attack on Saturday evening before being arrested by police two hours later.

No motive has yet been given for the killings in the southeastern province of Jiangxi which come after five stabbing attacks in as many weeks against schoolchildren that have deeply unnerved parents in China.

The knife attacks have put China’s government under pressure to increase security at schools and have pointed up the tensions and divisions in China caused by the ending of the social security net, official corruption and rising wealth inequalities.

A week ago China suffered three school attacks on consecutive days. On April 30 a farmer armed with a hammer injured five children and a teacher at a primary school in the eastern province of Shandong before setting himself on fire.

Read moreAnother knife attack in China: Man stabs eight people to death

KBR Selected For No-Bid Military Contract As US Alleges Kickbacks

kbr-selected-for-no-bid-military-contract-as-us-alleges-kickbacks

May 6 (Bloomberg) — KBR Inc. was selected for a no-bid contract worth as much as $568 million through 2011 for military support services in Iraq, the Army said.

The Army announced its decision yesterday only hours after the Justice Department said it will pursue a lawsuit accusing the Houston-based company of taking kickbacks from two subcontractors on Iraq-related work. The Army also awarded the work to KBR over objections from members of Congress, who have pushed the Pentagon to seek bids for further logistics contracts.

The Justice Department said the government will join a suit filed by whistleblowers alleging that two freight-forwarding firms gave KBR transportation department employees kickbacks in the form of meals, drinks, sports tickets and golf outings.

“Defense contractors cannot take advantage of the ongoing war effort by accepting unlawful kickbacks,” Assistant Attorney General Tony West said in a statement.

KBR, the Army’s largest contractor in Iraq, will review the litigation when it is received and “will continue to cooperate with the government,” company spokeswoman Heather Browne said in an e-mail. “Gifts of dinners, baseball tickets and similar items would violate KBR policies and KBR was not aware of these violations.”

Read moreKBR Selected For No-Bid Military Contract As US Alleges Kickbacks

39 Percent of Greeks Plan Protests Against Austerity Measures

ATHENS, May 8 (Reuters) – A large majority of Greeks oppose austerity measures agreed by the government in exchange for financial aid and 39 percent say they are ready to participate in protests against the cuts, a poll showed on Saturday.

The poll by Public Issue for the Kathimerini newspaper, which was based on a survey of 527 Greeks, showed 66 percent opposed the measures, which include deep cuts in wages and pensions, and 68 percent supported protests against them.

Read more39 Percent of Greeks Plan Protests Against Austerity Measures

The No.1 Trend Forecaster Gerald Celente: Greece Only The Beginning; Wall Street Plunge; Bailout Bubble Bursting; 2010 Global Crash; Gold

“I Have 80% Of My Assets In GOLD.”


Added: 7. Mai 2010

If Nostradamus were alive today, he’d have a hard time keeping up with Gerald Celente.
– New York Post

When CNN wants to know about the Top Trends, we ask Gerald Celente.
– CNN Headline News

There’s not a better trend forecaster than Gerald Celente. The man knows what he’s talking about.
– CNBC

Those who take their predictions seriously … consider the Trends Research Institute.
– The Wall Street Journal

A network of 25 experts whose range of specialties would rival many university faculties.
– The Economist

More from Gerald Celente:

Gerald Celente: Obama’s Financial Reform Is Just A Show

The No.1 Trend Forecaster Gerald Celente on ObamaCare, Dollar Devaluation And Gold

Gerald Celente: This time they will close the Banks & Wall Street (03/27/10)

Gerald Celente: ‘It’s the greatest bank robbery in world history and the banks are doing the robbing.’

Gerald Celente: ‘The Crash is Coming in 2010.’

The No.1 Trend Forecaster Gerald Celente: Financial Mafia Controlling US and Wall Street

Survivor, America: ‘It’s Only Going to Get Worse,’ Gerald Celente Says

The No.1 Trend Forecaster Gerald Celente: The Terror And The Crash of 2010

Panic from Greece to Wall Street (CBS NEWS)

‘There is now for the first time real fear that if the political leaders don’t reach consensus’ this may escalate into something unmanageable….,”

… which is why the elite allows this to happen, otherwise they would strike down any unrest, BUT the elite puppet political leaders have already reached consensus and will present the New World Order as ONLY solution to ALL the problems that the elite criminals have created.

When the elite has their dream – the New World Order – in place, things will be different:

“Countless people … will hate the new world order … and will die protesting against it.
– H. G. Wells in his book “The New World Order” (1940)


Added: 6. Mai 2010

US not accepting foreign help on oil spill

State Department spokesman P. J. Crowley said there was no Iranian offer of assistance.

Oh, really? Here is Press TV (Iran’s television network):

Iran offers to help contain US oil spill (Press TV) (Mon, 03 May 2010 13:29:49 GMT):

The National Iranian Drilling Company (NIDC) has offered to assist the US in efforts to prevent an ecological disaster caused by the spreading oil spill in the Gulf of Mexico
.

NIDC managing director Heidar Bahmani announced the firm’s readiness to use its decades-long expertise to fight the oil slick, the company’s public relations office told Press TV.

“Our oil industry experts in the field of drilling can contain the rig leakage in the Gulf of Mexico and prevent an ecological disaster in that part of the world,” Bahmani said.


p-j-crowley

When State Department spokesman P.J. Crowley refused to tell reporters which countries have offered assistance to help respond to the BP oil spill, the State Department press corps was flabbergasted.

“As a policy matter, we’re not going to identify those offers of assistance until we are able to see, you know, what we need, assess the ongoing situation. And as we accept those offers of assistance, we will inform you,” Crowley said.

Reporters pointed out that the Bush administration identified assistance offers after the Katrina disaster, so what is this, a new policy? They pressed Crowley, but he refused to budge.

Then they mentioned Iran’s offer of assistance, through its National Iranian Drilling Company. Crowley said there was no Iranian offer of assistance, at least in any official capacity. The reporters kept on it, asking why it was taking so long to figure out what was needed in the first place? That’s the Coast Guard’s decision, Crowley explained.

Late Wednesday evening, the State Department emailed reporters identifying the 13 entities that had offered the U.S. oil spill assistance. They were the governments of Canada, Croatia, France, Germany, Ireland, Mexico, the Netherlands, Norway, Romania, Republic of Korea, Spain, Sweden, the United Kingdom, and the United Nations.

“These offers include experts in various aspects of oil spill impacts, research and technical expertise, booms, chemical oil dispersants, oil pumps, skimmers, and wildlife treatment,” the email read.

“While there is no need right now that the U.S. cannot meet, the U.S. Coast Guard is assessing these offers of assistance to see if there will be something which we will need in the near future.”

Read moreUS not accepting foreign help on oil spill

Recalled Tylenol Products Were Knowingly Contaminated, Says FDA

FDA finds grime at J&J plant, urges use of generics (Reuters)

(Reuters) – U.S. inspectors found thick dust and contaminated ingredients at the Johnson & Johnson plant that produces Children’s Tylenol and dozens of other products that were recalled last week.


tylenol_fda-finds-grime-at-johnsonjohnson-plant

(NaturalNews) The other day I wrote a story about the massive recall by McNeil Consumer Healthcare, a subsidiary of Johnson & Johnson, of its infants’ and children’s line of Tylenol products. An FDA inspection report found these drugs to be contaminated with dangerous bacteria (they did not disclose the actual type) as well as “foreign materials” that were visible as “dark or black specks”. But a recent story published by USA Today has revealed that McNeil actually knew about the bacterial contamination and kept shipping the products anyway.

Only the drug industry could get away with this type of careless, reckless behavior with nothing more than a slap on the wrist from the FDA. In fact, the FDA did not even require McNeil to issue a recall after discovering the problem; McNeil did so voluntarily over “theoretical concerns” that were expressed by Deborah Autor, an FDA official who was quick to emphasize that the risk to consumers from the tainted products “is remote”.

So let me get this straight. An FDA report finds that a pharmaceutical company is knowingly using contaminated raw materials to make children’s and infants’ medicines in a factory that is failing to maintain its equipment, properly train its employees and correctly measure and weigh drug ingredients, and FDA officials consider the problem to be “theoretical”?

Can you imagine what would happen if an herbal product manufacturer were found to engage in the same behavior? The FDA would pounce on them, seize their products, issue a public warning and probably fine the company for its reckless behavior. But when Big Pharma pulls the same stunt, it’s just business as usual.

Read moreRecalled Tylenol Products Were Knowingly Contaminated, Says FDA

EU Rules: Silent Electric Cars Must Make Noise!

EU rules may mean silent electric cars must make Star Wars noises

eu-rules-may-mean-silent-electric-cars-must-make-star-wars-noises
Battery cars such as the G-Wiz may be too quiet for cyclists and the blind to hear

The vision of tranquil modern cities, with inhabitants gliding by silently in electric cars, may be shattered by European plans to introduce artificial warning sounds to the new generation of zero-emission vehicles.

Each manufacturer may be permitted to provide its own “signature tune”, with the regulation simply setting a minimum volume to prevent pedestrians, cyclists and especially blind people from stepping into the path of battery-powered cars.

Some manufacturers are likely to opt for an engine noise while others are considering adopting the noises of spacecraft from science fiction films, such as the podracers from Star Wars.

Read moreEU Rules: Silent Electric Cars Must Make Noise!

Vampire Zombie Needs More Blood – Freddie Mac Seeks More Government Funds, Asks For Additional $10.6 Billion

* Q1 provision for credit losses $5.4 bln

* Focused on improving credit quality – CEO

* Signs of housing market stabilising – CEO

* But expect big rise in distressed sales – CEO

freddie-mac

WASHINGTON/NEW YORK, May 5 (Reuters) – Freddie Mac, the second-largest provider of U.S. residential mortgage funds, on Wednesday asked for an additional $10.6 billion in federal aid after it lost $8 billion in the first quarter.

The company warned it would continue to need billions more in government funds because the housing market remains fragile.

The loss was $6.7 billion before a $1.3 billion dividend payment on senior preferred stock owned by the U.S. Treasury.

Read moreVampire Zombie Needs More Blood – Freddie Mac Seeks More Government Funds, Asks For Additional $10.6 Billion

Dr. Rima E. Laibow MD reports from the Codex Committee on Nutrition Labeling


Added: 2. Mai 2010

Related information:

Dr. Rima E. Laibow: The Globalist Depopulation Agenda

Dr. Rima E. Laibow on Codex Alimentarius and Food Nazification

Dr. Rima E. Laibow on the Contamination of the Food Supply & Deadly Antibiotics

Codex Alimentarius: Population Control Under the Guise of Consumer Protection

Nutricide – Criminalizing Natural Health, Vitamins, and Herbs

German Professors Challenge Greek Bailout Legislation, Declare it Unconstitutional

Commentary:

Greece should (arrest the Goldman Sachs banksters) default on those bonds that are unpayable and let the stupid investors/banksters eat the losses.

Instead the people in Greece and the EU will be presented with the bill, created by corrupt elite criminals.

Now Germany is portrayed as not willing to help the people of Greece.

The Greek bailout is not about helping the people.

It is about looting the people in the EU (and everywhere else) until there is nothing left. This is happening everywhere.

Max Keiser on Greece: ‘The IMF is a Financial Mafia’:

“The only solution for Greece is to arrest the Goldman Sachs bankers immediately and all those involved in the fabrication of Greek economic data in 2000, when you became a member of the eurozone. The next step is to nationalize all banks like Sweden did in 1993. The International Monetary Fund is that last thing you need. You will lose your sovereignty. It exercises terrorism. You will be raped in such a way, that it will be the worst pain you have ever felt.

If someone burns down your house in order to sell you charcoal, would you consider this logical? That is exactly what Goldman Sachs did to the Greek economy. They burned you down like arsonists and then they tell you not to worry they’ll give you charcoal. It’s outrageous. The IMF has said that it can provide Greece with help. The Wall Street investment hedge funds are attacking Greece’s bond market so that the Greek economy collapses. And they’re doing this for a simple reason; to force the Greek people to ask for help from the IMF. The IMF will say, we came because you asked for our help. Wall Street bankers work very closely with the IMF. It’s a financial mafia and the hedge funds are the assassins. Research conducted on Goldman Sachs in the USA and in Europe show how big a mafia it is. They are involved in illegal activity throughout the world.?

Germany is on the side of the Wall Street bankers. Germany doesn’t care about Greece or the euro. The euro replaced a cheap capital in order to uphold competitiveness in its export market. As long as Greece is a problem, the euro falls, which is something that is in Germany’s interest.

The European Union and the euro are competing with the dollar. Unfortunately, the crisis will destroy the euro. The financial terrorists on Wall Street intend to destroy Portugal, and other countries, after Greece. The destruction of the euro will allow the dollar to be the only international currency, the only fiscal reserve. If a country wants to buy petroleum, it must purchase dollars first. If a country wants to buy copper, it must purchase dollars first. Because these and many other commodities are only sold in dollars. This means that the U.S. is making a continuous profit. The whole world is obliged to buy dollars. The euro threatened the empire of the dollar. It was naturally not appreciated by Wall Street bankers. They are using the crisis to destroy the euro. The Greek people must stand up to the bankers, just like the Icelandic people did.”

The reality is that:

Elite (Bilderberg) puppet Merkel urges parliament to give more taxpayer money to Deutsche Bank under pretext of “Greek bailout”

– Germany staggers under bank bailout and souvereign debt

– Faces financial meltdown with Greece

– Banks poised to buy up bankrupted countries

Merkel urges Germany to support Greece with bail-out (BBC News):

“Quite simply Europe’s future is at stake,” Ms Merkel said. “Europe is at a fork in the road.”

Parliamentary approval is needed for the EU and IMF to start disbursing the 110bn-euro ($143bn; £95bn) bail-out.

Elite puppet President Obama, for example, added more to the National Debt in 120 days than all other Presidents did in the past 220 years, yet feels qualified to lecture Americans about ‘fiscal responsibility’.

Gordon Brown and Alistair Darling hail themselves as saviors, who saved the UK from the financial crisis.
What they are really doing is bankrupting the UK and destroying the pound.

UK budget deficit to surpass Greece’s as worst in EU

The majority of the people is still ignorant about what all this dramatically increased government debt and policies like quantitative easing by their central banks (=printing money = creating money out of thin air = increasing the money supply = INFLATION) mean for them.

Here is (again) what it means:

“When a country embarks on deficit financing and inflationism you wipe out the middle class and wealth is transferred from the middle class and the poor to the rich.”
– Ron Paul

“Deficits mean future tax increases, pure and simple. Deficit spending should be viewed as a tax on future generations, and politicians who create deficits should be exposed as tax hikers.”
– Ron Paul

“By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens. There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose.”
– John Maynard Keynes

“In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. … This is the shabby secret of the welfare statists’ tirades against gold. Deficit spending is simply a scheme for the confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights. If one grasps this, one has no difficulty in understanding the statists’ antagonism toward the gold standard.
– Alan Greenspan

“The one aim of these financiers is world control by the creation of inextinguishable debts.”
– Henry Ford

“I place the economy among the first and most important virtues, and public debt as the greatest of dangers.”
– Thomas Jefferson

“There is no means of avoiding the final collapse of a boom brought about by credit (debt) expansion. The alternative is only whether the crisis should come sooner as the result of a voluntary abandonment of further credit (debt) expansion, or later as a final and total catastrophe of the currency system involved.”
– Ludwig von Mises

And Obama knows exactly what he is doing:

“Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren,” Obama said in a 2006 floor speech that preceded a Senate vote to extend the debt limit. “America has a debt problem and a failure of leadership.”
– Barack Obama

After the elite criminals will have bankrupted and collapsed EVERYTHING they will propose the New World Order as the only solution to all the problems that they have created in the first place.

Rise up people (peaceful) … or fall and live as slaves.

Germany should leave the EU and the euro and go back to the German mark, backed with gold.


Professors to challenge Greek bailout legislation in Germany

angela-merkel
Elite puppet Angela Merkel

Karlsruhe, Germany – A group of professors who want Germany to be guided by its national interests promised Tuesday to mount a court challenge this week against legislation on bailing out Greece.

They are to demand Friday that the Federal Constitutional Court declare the legislation a breach of the German constitution.

A spokesman said he would file suit straight after Germany’s parliament is expected to pass a law committing Berlin to a 22.4-billion-euro (29-billion-dollar) share in European Union rescue loans to Athens.

The aid is unpopular among Germans, who say they have had to endure lagging wages, high taxes and retirement deferrals for years. News reports in Germany have portrayed Greece as spendthrift, corrupt and undeserving.

“We’ll hand in the docket at 12 noon and announce why,” said Karl Albrecht Schachtschneider, a retired professor of public law.

He told the German Press Agency dpa he was backed by three economics professors, Joachim Starbatty, Wilhelm Noelling and Wilhelm Hankel, as well as by retired Thyssen chief executive Dieter Spethmann.

Read moreGerman Professors Challenge Greek Bailout Legislation, Declare it Unconstitutional

Protestors Storm Parliament in Greece, 3 Killed in a Firebombed Bank

Hmmh. I would like to know who really firebombed the bank. (Another Iceland?)


greek-police-hit-by-molotov-cocktail
Greek police hit by molotov cocktail (Reuters)

3 dead after protesters torch Greek bank (ABC NEWS):

Three people died in a burning bank as tens of thousands of protesters took to the streets of Athens during a general strike over the Greek government’s planned spending cuts.

Some protesters tried to storm parliament while others threw petrol bombs at police and torched buildings in protest against new austerity measures and a decision to raise taxes to meet the conditions of its international bailout.

A petrol bomb hurled at an Athens branch of the Marfin Investment Bank killed two women and a man who were caught in the resulting inferno.

3 killed as rioters overrun streets of Greece (Los Angeles Times)

Greek bank firebombing a ‘raw murderous act’ (Sydney Morning Herald):

Greek Prime Minister George Papandreou has condemned the killing of three people in a firebombed bank during protests in Athens as a “murderous act”, vowing to bring those responsible to justice.

In an address to parliament on Wednesday, Papandreou denounced “the unfair deaths of our citizens who fell victim to a raw murderous act” hours after the three died when petrol bombs thrown by demonstrators set the bank on fire.

“Nobody has the right to violence and particularly violence that leads to murder. Violence breeds violence,” Papandreou said.

a-riot-policeman-falls-after-being-hit-with-molotov-cocktail-near-the-greek-parliament-in-athens
A riot policeman falls after being hit with molotov cocktail near the Greek parliament in Athens. Photo: Reuters

At least 3 killed as protestors storm parliament in Greece (InTheNews):

At least three people have been killed in Greece as protestors stormed parliament buildings in Athens amid the country’s debt crisis.

Striking workers set fire to a bank, possibly after being hit by petrol bombs, with fire services saying three bodies were found inside the burning building.

Police have responded to the unrest with pepper spray, tear gas and stun grenades.

Transport was at a standstill in the country as the angry protestors began their second day of strikes in the capital today over the government’s response to the country’s huge deficit.

Read moreProtestors Storm Parliament in Greece, 3 Killed in a Firebombed Bank

North Korea masses 50,000 troops along the border with South Korea

North Korea has completed deployment of about 50,000 special forces along the border with South Korea, amid high tensions over the sinking of a Seoul warship.

The deployment began two or three years ago and seven 7,000-strong divisions are now in place, an unidentified senior government official told Yonhap news agency.

“The threat that North Korea may infiltrate special forces for limited warfare has become real,” the agency quoted a separate senior defence ministry official as saying.

The defence ministry refused to confirm the Yonhap report, but President Lee Myung-Bak discussed the North’s special warfare capabilities at an unprecedented meeting Tuesday with 150 top officers from all armed services.

At the meeting, Mr Lee hinted strongly that the North was involved in the sinking of a South Korean warship with the loss of 46 lives near the disputed sea border on March 26.

Read moreNorth Korea masses 50,000 troops along the border with South Korea

Top Soviet Commander: USSR came close to defeat by Nazi Germany

An interview in which a Soviet commander admitted how close Moscow came to defeat by Germany during the Second World War has been broadcast in Russia for the first time.

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Russian General Georgi Zhukov (centre) and his officers near the Seelower Hoehen battlefields in April 1945 Photo: AFP/GETTY IMAGES

The Soviet Union nearly lost the war in 1941 and suffered from poor planning, according to Marshal Georgy Zhukov in the frank television interview that has been banned since it was recorded in 1966.

Zhukov, the most decorated general in the history of both Russia and the Soviet Union, admitted that Soviet generals were not confident that they could hold the German forces at the Mozhaisk defence line outside Moscow.

“Did the commanders have confidence we would hold that line of defence and be able to halt the enemy? I have to say frankly that we did not have complete certainty.

“It would have been possible to contain the initial units of the opponent but if he quickly sent in his main group, he would have been difficult to stop,” he told the interviewer, the Soviet writer Konstantin Simonov.

Zhukov also revealed details of his exchanges with Joseph Stalin, the wartime leader, in the interview broadcast on state-run Channel One.

He recalled that a flu-struck Stalin summoned him to Moscow in October 1941 to salvage what until then had been a stuttering defence on the Western front outside Moscow.

After arriving at the front, Zhukov found that the defences in place were “absolutely insufficient”.

“It was an extremely dangerous situation. In essence, all the approaches to Moscow were open,” he said. “Our troops on the Mozhaisk defence line could not have stopped the enemy if he moved on Moscow.”

“I telephoned Stalin. I said the most urgent thing is to occupy the Mozhaisk defence line as in parts of the Western front in essence there are no (Soviet) troops.

Shortly afterwards, Stalin phoned Zhukov back to inform him he had been made commander of the Western Front.

Read moreTop Soviet Commander: USSR came close to defeat by Nazi Germany

Moody’s says very likely to downgrade Portugal’s credit rating

See also:

Elite Puppet Credit Rating Agencies Playing Big Roll In European Debt Crisis


* Downgrade now highly likely, review to take 3 months

* Still to discuss austerity with government

* Moody’s says may cut Portuguese banks’ ratings

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The historic part of Lisbon, the Portugeuse capital, recreated after an earthquake devastated the City in 1755

LISBON/NEW YORK, May 5 (Reuters) – Moody’s Investors Service put its credit rating for Portugal on a three-month review on Wednesday, and a senior Moody’s analyst said that as a result a downgrade of the credit rating is now likely.

Moody’s said it could downgrade Portugal’s Aa2 ratings by one, or at most two, notches, citing “the recent deterioration of Portugal’s public finances as well as the economy’s long-term growth challenges,” especially due to low competitiveness.

“We have sent a signal that it is possible, and I have to say, statistically, there is a very strong likelihood that if we put it on a review for downgrade then we follow through with a downgrade,” Anthony Thomas, vice president at Moody’s Sovereign Risk Group, told Reuters.

He said a downgrade was more likely now than when Moody’s first placed Portugal on negative outlook last year.

Read moreMoody’s says very likely to downgrade Portugal’s credit rating

UK budget deficit to surpass Greece’s as worst in EU

European commission’s spring forecasts put UK budget deficit this year at 12% of GDP – the highest in the European Union and worse than Treasury estimates

alistair-darling
The European commission forecast for the UK budget deficit is higher than Alistair Darling’s. Photograph: David Levene

Whoever wins the election must make sorting out the public finances the top priority, the European commission warned on the eve of the poll, as it predicted the British budget deficit would swell this year to become the biggest in the European Union, overtaking even Greece.

The commission’s spring economic forecasts put the UK deficit for this calendar year at 12% of GDP, the highest of all 27 EU nations and worse than the Treasury’s own forecasts.

The country’s budget shortfall was the third largest in the EU last year but will overtake both Greece and Ireland this year, according to the forecasts. Greece’s measures to tackle its public finances problems are projected to cut its deficit to 9.3% of GDP.

Read moreUK budget deficit to surpass Greece’s as worst in EU

Secret tape of Blackwater founder Erik Prince exposed

Erik Prince
Erik Prince

Erik Prince, the founder of Blackwater, the American private security organisation, has claimed that his employees have called in airstrikes in Afghanistan.

He also mocked Afghan military recruits for needing lessons in how to use a toilet, and questioned the value and quality of other countries’ troops in the country.

In a speech in January at the University of Michigan which was secretly recorded, he questioned the will to fight of many Nato troops in Afghanistan, saying that “a lot of them should just pack it in and go home”.

Blackwater, now renamed Xe Services, has been a lightning rod for controversy surrounding America’s use of private contractors in war zones since its personnel killed 17 unarmed Iraqi civilians in a Baghdad square in 2007.

Read moreSecret tape of Blackwater founder Erik Prince exposed

Pennsylvania’s Big Brother Tax Collection Scare Campaign: ‘We Know Who You Are’

(NaturalNews) Just when you thought the truth couldn’t get any stranger than fiction, the Pennsylvania Department of Revenue decides to launch a creepy new Big Brother “Tax Amnesty” program aimed at getting delinquent taxpayers to pay up on their back taxes. But the state agency has stooped to using police state tactics in its advertising to scare people into paying.

If you don’t believe me, watch this YouTube ad (it’s real):

In it, a robotic female voice targets a man named “Tom” who owes back taxes to the State of Pennsylvania. A satellite view from above (eye in the sky) is zooming in on Tom’s house and targeting it in the crosshairs, as if he is some sort of enemy of the state.

The voice says, in classic mob-style shakedown language, “Listen, we can make this easy. Pay online by June 18th and we’ll skip your penalty… because Tom, we do know who you are.” This is followed up by a large on-screen text slogan, “FIND US BEFORE WE FIND YOU.”

The ad almost seems like a hoax, but it’s very real. The official website carries the same Big Brother message: Pay up, or we’ll find you… (and do something scary to you).

Read morePennsylvania’s Big Brother Tax Collection Scare Campaign: ‘We Know Who You Are’