martes, 7 de octubre de 2008

USA Banks will close down for one week!!! or more!!! jojojo...where are you going to buy a mango???

Bailout Creating a Financial Black Hole to Suck Us All In

Posted: October 4 2008

   

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What is this?

A dish of Bailout with a side of pork, shareholders vaporized by Derivatives Death-Star, We all await the financial markets implosion, No problems solved by the bailout, Stay prepared for a full shutdown of the financial system with some cash on hand, Credit default swaps unregulated point in the chain

Well, what a surprise, we've been sold down the river for the usual "thirty pieces of silver" by our Congress and our President, working together in unison, for the nth time.  

The $700 billion bailout, a mere sideshow, sweetened with 150 billion in pork, has now been approved so that Wall Street can continue to game the system and its hapless suckers, the American sheople.  Just put some pork in, and the hungry piranha in Congress would legislate their own mothers into slavery for a nice juicy morsel of that pork.  And never mind the moral hazard dripping from the pork, because that makes it taste all the sweeter.

If you were wondering why all the healthier financial institutions, and of course we say that with tongue-in-cheek because we know they are all eventually slated for destruction by the explosive blast of a Quadrillion Dollar Derivative Death-Star, were buying all the gargantuan commercial and investment banks that are laden with toxic waste, you now have your answer.  This is why all the shareholders in these zombie-acquisition deals are getting vaporized.  Their assets were more valuable than they thought, because unbeknownst to them, the US government was about to pay far more for these assets than they were worth.  But since the shareholders were not Illuminists, they were not privy to this information.  And look at the disgrace with Citibank and Wachovia.  After Citigroup wipes out the Wachovia shareholders, with the help of the FDIC, suddenly Wells Fargo, which now sees the value of all of Wachovia's crap paper via the Paulson Ponzi-Plan, comes through with a better offer.  The Wachovia shareholders should attack Citigroup based on their fraudulent balance sheets, because they were in no position to acquire anything on this scale, or any other scale for that matter.

The Illuminist insiders were all told in advance that Wall Street's Excellent Bailout Bonanza would be stuffed down the throats of gullible US taxpayers.  Note how many of these zombie-acquisition-deals were done before the bailout plan was even proposed on September 20.  As you can see, the masters of the universe are so arrogant that they were willing to bet hundreds of billions of dollars that the Paulson Ponzi-Plan would be successfully shoved up our collective butts by our bought-and-paid-for-or-compromised government "representatives," so-called, despite the hue and cry of the sheople against this monstrosity, sometimes by as much as 300 to 1.  All that cesspool paper that they now own by virtue of these zombie-acquisition-deals is very valuable to them.  It will be sold to the government for far more than it is worth so that financial institutions around the world can somehow pretend that the losses are far less than they really are.  And never mind that everyone in the world knows this stuff is crap, because we will all now have some sort of collective pipedream in the United Goldilocks Matrix.  We can just see Hank and Ben firing up the pods and installing the everything-will-turn-out-juuuust-right software, so we can all pretend that the credit-crunch never happened.  We will just ignore it.  This is another Illuminist fantasy that will turn out about as well as their subprime scam.

Of course, the reality is, whether this cesspool paper worth pennies on the dollar is sold for its hold-to-maturity value or for some lesser, but still outrageously exaggerated, figure, the sheople will eat just about everything they pay out for this toxic garbage via the bailout plan.  This stuff is crap even under current conditions, which are worsening by the minute.  Just imagine what this stuff will be worth as the real estate markets, and the value of our new collateral, continue to fade off into the sunset while we enter into the Very Large Depression, which is now insured to happen by virtue of the Paulson Ponzi-Plan.  And how much less will it be worth as the rate of return on this garbage gets buried by the upcoming double-digit interest rates that will be born out of the hyperinflation generated by all these bailouts, thus reducing its present value quite drastically.  Then throw in the proposed government workouts, complete with interest rate reductions and cram-downs, just for good measure, and that ten cents on the dollar paper that we paid thirty, forty or fifty cents on the dollar for, will soon become worthless.  Making matters even worse, all this toxic waste will be sold by select Illuminist institutions at what will be sham "arranged" auctions where everyone gets to sell what they want for the price they want, as long as they are Illuminist insiders.  Everyone else can of course go scratch.  With Hanky Panky as the real, unsupervised or rubber-stamped auctioneer, you can bet that we, the sheople, will be taken to the Illuminati's slaughterhouse to be sliced up into some prime cuts for the elitist carnivores.  Mutton chops anyone?  Dinner is now served, complete with caviar and champagne.  Bon appetite.

The Illuminati will now act like drunken sailors at a keg party.  They will drain the keg in short order, and then ask for more.  If they do not get what they want, they will get rowdy, pounding the tables with their mugs and threatening a brawl that will destroy the tavern if they do not get their next round, pronto.  Out comes the next keg, which gets drained even faster than the first because everyone is inebriated, and the next round of table pounding and threats becomes manifest.  This process will proceed until everyone at the party has more than they can handle and passes out.  Then comes the derivatives tsunami that will drown them all in a sea of counterparty risk, an event which will be used to usher in a new Orwellian, corporatist fascist state, where the financial, manufacturing and other major industries are all nationalized.  We, and our European and Canadian counterparts, will all then resemble our fellow fascists, Marxists and dictators in Russia, in China, in the Middle East, in Asia and in South America, and the formation of world government will seem like the most the most natural thing to do, when everyone is on the same page, after the pesky, arrogant United States has been humbled into submission.

As we mentioned, this Excellent Bailout Bonanza, this Paulson Ponzi-Plan, is just a sideshow to distract everyone from the real issue, which is of course the Derivative Death-Star, with a Quadrillion Dollar mass that is about to implode, detonate, and morph into a financial black hole that will suck the entire world economy into its dark, massive, foreboding center.  The subprime debacle is just one of the many fuses leading into the gargantuan derivatives powder keg.  The subprime paper to be auctioned is little more than a catalyst for the creation of the real disaster, which are the credit-default swaps and interest rate swaps, an entangled, Byzantine labyrinth of opaque, unregulated counterparty risk that will be ignited by continuing corporate bankruptcies and double-digit interest rates that will be created by a hyper-inflated economy awash in bailout dollars which the Fed will have created out of thin air.

Foreign nations with dollar forex cannot possibly keep buying all the treasuries that will have to be created to fund all these bailouts because they are all experiencing rampant inflation, and printing more of their own domestic currencies to absorb the dollars necessary to purchase treasuries is no longer possible without risking social upheaval and revolution as hyperinflation destroys their economies.  This means that some, or even most, of the new treasuries that will be created by the Treasury and the Fed to fund the bailouts and deficits will have to be monetized, which is immediately inflationary.  M3 is about to explode as these many monetizations and the Fed's trillions in liquidity injections continue to flood the fiat money and credit system, which will continue in its cryogenic state despite the Paulson Ponzi-Plan that will now be implemented in an attempt to re-inflate the credit markets, which are the lifeblood of our debt-based, fiat money system, thanks to the cessation of the gold standard.   Everyone on Wall Street knows that the subprime paper is not the real problem.  The real reason they distrust one another, and will not lend to one another, is the unknown counterparty risk that will go into a plasma state when the Derivative Death-Star detonates.  It is the opaque, unregulated OTC derivatives market that they are really afraid of.

Due to the fact that you have 70 or more trillion of credit default swaps insuring 5 trillion in bonds, a ten billion dollar loss by a large corporation can on average morph into a 140 billion disaster of epic proportions that could wipe out several other companies, whose own credit-default swap counterparty risk would then ignite, in a chain reaction reminiscent of a thermonuclear explosion.  Remember, credit default swaps are not true derivatives with a zero net sum.  They are insurance policies.  But unlike most insurance, there are no regulators or loss reserves, thanks to Slick Willie Clinton and the Congress, which passed the Commodity Futures Modernization Act in 2000.  Worse yet, they can be used to insure property which the insured party does not even own.  Hence, you can see why everyone trembles at the thought of this radioactive sector going thermonuclear.

Did you see how the stock market received the Paulson Ponzi-Plan?  They used it as an opportunity to de-leverage, which is pretty much all it was good for, and the Dow was taken to a new low in the process.  No problems have been solved, and we will continue on to our ignominious destiny with recession, depression, and a third world Banana Republic standing where we are all but irrelevant to the world economy.   No one will have anything but worthless paper to spend for foreign tangible goods.

Americans and Europeans are too stupid to understand the necessity of owning precious metals under these disastrous circumstances, and they will have little of value to trade for the tangible goods exported by the world's manufacturing economies, who have taken over America's role as the lead producer thanks to free trade, globalization, off-shoring, outsourcing and both legal and illegal immigration. The main purpose of the IF is to wise these dolts up, and save them from the planned destruction of our economy at the hands of the Illuminati.  This situation is survivable, but advance notice and preparation are the key to success.  Gold and silver are the only remedy for what now ails our nation, and nations around the world.  

The Senate financial market rescue bill would temporarily allow the FDIC to borrow unlimited amounts of money from the Treasury Department in order to provide larger government deposit coverage that would extend until the end of next year, which really means forever. This has all the earmarks of a banana republic.

The latest propaganda from the government and the Illuminist think tanks tells us that, treasuries are more secure than gold because they are backed by the US government and gold has a counter party risk by whoever is storing your gold as the counter party. I've never heard any stupider comments.

The Fed has informed Bank of America to
be ready for a one-week
universal shutdown of the banking system, including access to checking accounts, savings accounts and credit cards. This is why you need $5,000 in small bills in your safe at home and small denomination gold and silver coins.




   

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miércoles, 1 de octubre de 2008

How finacialized global capitalism crisis affects South Africa by UMZEBENZI ON-LINE



Volume 7, No. 17, 1 October 2008

In this Issue:
 
Red Alert
The Current Global Financial Crisis and its Implications for South Africa
Guest Contributor: Rob Davies, Member of the SACP Central Committee and Deputy Minister of Trade and Industry
 
The proposed $ 700 billion bail out for US banks is a striking indication of the extent of the current crisis of financialised global capitalism. $ 700 billion is nearly three times the Gross Domestic Product (total value of goods and services) of South Africa. The most recent bail out proposal follows earlier hand outs to mortgage lending companies, Fannie Mae and Freddie Mac, as well as the buy out of major insurance companies. The failure by the US Congress to approve it led to the biggest ever single day's fall in US stock prices. And yet, it is far from clear that the bail out package, even if approved, would actually succeed in "stabilizing" the crisis-ridden financialised global capitalist system. 
 
What lies behind this crisis of global capitalism? And what implications does it have for workers and the poor in South Africa? 
 
In Volume III of Capital, Marx demonstrated why capitalism is unable to develop along a path of uninterrupted expansion, and instead always evolves in cycles of booms and busts. Because the system is essentially anarchic, during periods of boom it is driven by a feeding frenzy of individualized expansion into new areas of activity.
 
Inevitably after time this includes areas where the underlying productive activity is unable to sustain profitability. The cycle turns and a huge competitive struggle ensues to determine which capitals must be destroyed to allow the system to re-create itself in another cycle of expansion.
 
Capitalist globalization since the 1990s has seen what has been called "financialisation" of investment. Facilitated by the introduction of Information and Communications Technology (ICT), capital has built the capacity to move from one investment to another in any part of the globe virtually at the press of a button. In this environment new financial institutions and new practices have emerged, located principally in the United States as the corporate headquarters of global finance capital.
 
"Leveraging" (meaning extending credit to a value several times that of underlying assets) and "derivative trading" (meaning repackaging real assets into financial assets in various forms) have been the basis on which enormous profits have been accumulated in recent years. Yet this has become further and further removed from the productive base of all wealth and accumulation in the "real" economy of manufacturing, agriculture and productive services, meaning that the engine room of capitalist accumulation has increasingly become in the words of Cde Fidel Castro "the casino economy" of trading in financial instruments.
 
Both these elements are essential to understand the current crisis. At its onset, orthodox financial commentators told us that the origin of the crisis was problems in the "sub prime" housing mortgage market in the US.
 
It is now evident, even to vulgar commentators, that this explanation is wholly inadequate and that the "sub prime" mortgage issue was a mere symptom of a much more profound phenomenon. Essentially during the upswing, financialised capital penetrated into a whole range of activities that would otherwise have been considered "risky". Marshalling arguments located in the ideology of neo-liberalism and market fundamentalism, finance capital resisted calls for regulation and instead asserted its unfettered "right" to "leverage" all kinds of financial instruments off "risky" underlying assets, as well as create "derivatives" of various kinds.
 
This kind of activity, it is now apparent, has affected (and infected) large parts of the system – not just in the US but also in Europe and Asia. Whether we are yet at the bottom of the cycle, or whether any of the proposed bail outs will have any impact remains to be seen. The crisis has already taken its toll on supposed icons of US banking (like Lehman Brothers) and the institution of investment banks (banks that do not take deposits).
What then does this mean for us in South Africa? A phase of capitalist downswing always implies contraction in production and employment. This, moreover, is always an uneven process across the imperialist chain. Thus far, South Africa and Africa have been partly shielded by the rise of the so-called "Global South" (China, India, Brazil) as significant economic powers. Industrial development in these countries continues to be minerals intensive and this has fueled high prices for mineral products. Thus far, these countries have experienced the impact of the global crisis as relatively small declines in very high growth rates. In policy terms, this must surely be a major reason why we need to prioritise deepening our relations with these countries and insisting on continuing to diversify our trade relations.
 
Thus far, too, South African financial institutions have been spared the worst of "contagion" from the crisis in the US. Interestingly, The Business Times of 21 September attributed this partly to "exchange control" which meant "there is a healthy degree of trapped liquidity within the financial system".
 
But, there still remain serious risks. Continued downturn could further depress production across the world, including in the countries of the "Global South". Moreover, Morgan Stanley has warned that capital flows to "emerging markets" could be cut by a quarter in 2009 – as capital seeks to exit perceived "risky investments".
 
South Africa could find itself significantly impacted on by the latter, as we have relied on inflows of short term foreign capital ("hot money") to fund the deficit on the current account of the balance of payments (meaning we continue to import more goods and services than we export).
 
In immediate policy terms, this would suggest that that the drive to incrementally lift exchange controls needs to be revisited, that we must ensure that "leveraging" and "derivative trading" by South African financial institutions is properly and effectively regulated, and that we urgently take steps to reduce our dependence on short term foreign capital.
 
In the longer run, the current crisis of financialised global capitalism must surely become a rallying cry to redouble our efforts to end a system in which the lives and destinies of working people and the poor across the world are held hostage to a handful of speculators in Wall Street.

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Basta Ya!--USA
Ciao,

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viernes, 26 de septiembre de 2008

Fwd: Keep the Panama Historical Society going...bring wife and daughter w/archy too!



---------- Forwarded message ----------
From: Eric Jackson <thepanamanews@gmail.com>
Date: Thu, Sep 25, 2008 at 10:19 AM
Subject: Keep the Panama Historical Society going...
To: pinel.fernando@gmail.com


We could wait for John to get better and give us instructions, but now we all know that this will not happen.
 
So now, let´s get together at the usual time and place, and carry on:
 


Ovidio Díaz Espino and John Carlson at the July 2, 2008 Panama Historical Society meeting, the most recent one that has been held. Photo by José F. Ponce

Never mind the guessing games about what "he would have wanted" ---  his surviving family and rank-and-file members want the Panama Historical Society to continue...

The Panama Historical Society after John Carlson

This is an unofficial call. If anything contradictory comes from the surviving Panama Historical Society officer, it will be passed along.

John Carlson, who more or less ran the Panama Historical Society as a one-man show with the crucial support of a large and varied cast of contributors, has died. Due to Carlson's injury the society, which generally met every month on the first Wednesday of the month at Niko's in Balboa, has not met since July.

Whether or not it's an "official" Panama Historical Society meeting, members and friends of the organization should gather at the usual time and place, on Wednesday, October 1, 2008 at the Niko's restaurant in Balboa at 7:30 p.m., so that we can meet one another, appreciate what has gone before and carry on into the future.

Carry on the Panama Historical Society tradition

Niko's in Balboa

(next to the stadium)
Wednesday, October 1, 7:30 p.m.



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miércoles, 24 de septiembre de 2008



 
Bush, Paulson make Dellinger look like a Boy Scout

As the Bush administration attempts to ram a bailout package of nearly one trillion dollars through Congress, it begins to feel like Colonel Sanders asking the public to trust him to take care of the chickens.

If it weren't so damn serious, there would be something almost comical about it. Here we have the White House, which has squandered trillions of dollars over eight years, and its point man, Hank Paulson, fresh from 38 years of gaming the financial system while working at Goldman Sachs, insisting that Congressional leaders hand over a trillion dollars to them with no debate and no strings attached.

In this real life drama, Bush and Paulson make John Dillinger, the legendary bank robber of the Depression years, look like a Boy Scout.

Nothing to do with socialism

This is not "socialism for the rich," as some have suggested. Socialist measures would thoroughly clean up and stabilize the financial system to be sure, but a socialist-led government would also place the good as well as the bad assets of the responsible parties (commercial and investment banks, private equity firms, and hedge funds) into the hands of a public democratically run authority. It would turn the Federal Reserve Bank, which during the Greenspan era was one of the main architects and cheerleaders of bubble economics (hi-tech, stock market and, its latest version, housing) into a publicly controlled institution. And it would bring those responsible to trial and penalize them appropriately, if convicted.

At the same time, a socialist-led government and its congressional allies would funnel money to homeowners and working people and enact special measures to assist communities of the racially oppressed, not to mention our rural towns. It would rebuild our nation's deteriorating infrastructure, invest in renewable energy and green jobs, and bring the Iraq war to a quick end. It would also propose the people's takeover of the energy complex, which has also turned into a cash cow of the wealthiest corporations.

Use common sense

Does it make any sense to give control of our financial and economic system for the indefinite future to the same individuals, who while gaming the system, got us into this mess in the first place? I can't think of anything that is less democratic or goes against the grain of common sense.

In the money and banking textbooks that I read years ago, our financial institutions and system supposedly channeled idle money to productive uses – to new technologies and business startups, to build homes and create jobs, to invest in new plant and equipment, and to construct and renew our nation's infrastructure, while extracting handsome profits all the while.

Looking back, it is fair to say that banks and investment houses did perform this function for a period in capitalism's development, but that period has largely passed.


Finance capital's rise and ultra-right rule

Indeed, with the rise to dominance of the extreme right and the reassertion of power by finance capital three decades ago, our financial system has operated more or less independently of other sectors of the economy, functioned largely free of any regulatory body, and grown exponentially.

Finance capital – in its quest to maximize its rate of profit – has drained dollars from the private economy (especially the manufacturing sector) and the public treasury into incredibly risky and speculative financial schemes; it has spawned a series of complex financial instruments and paper transactions which few understand, but fabulously enrich the buyers and borrowers of these exotic instruments, most of which have nothing to do with the real economy.

Finance capital has facilitated megamergers, takeovers and corporate flight to off shore locations; it has wreaked havoc on sovereign states and their economies, particularly in the developing world; it has without as much as a thought introduced enormous instability into the arteries of the U.S. and world economy, evidenced by the frequent financial contagions at home and globally.

And, it has been one of the main class agents to successfully engineer the biggest transfer of wealth in our nation's history from wealth creators -- the world's working people -- to wealth appropriators, the upper crust of U.S. finance capital, while leaving at the same time our nation with an astronomical pile up of household, government and corporate debt that cannot be unwound overnight.

In short, the reassertion of finance capital to a dominant position in the political economy of our country, which was only possible because of the right wing dominance of our nation's political levers of power, has come at a heavy price for the American people and people worldwide.


Clinging onto power

And yet, despite this incredible wreckage, this almost incomprehensible corruption, this reckless speculation, these merchants of plunder, debt and hardship are still attempting to resolve this financial crisis in a way that continues to leave them in charge of the main levers of power and their wealth intact.

As I said earlier, this is not socialism. A more apt description is parasitic state monopoly-finance capitalism. According to marxism, the main mission of the state is to reproduce the conditions for the reproduction of the class structure and economic relations of capitalism. If I am not mistaken, isn't this precisely what Bush, Paulson and team are doing now?


Arena of struggle

Of course, marxism also says that the state is an arena of struggle. While the ruling class employs the state apparatus, including violence when necessary, to impose its interests on society, a united working class and people can successfully resist these measures from within as well as outside state structures. This was done in the 1930s and in so doing, secured important victories for the nation's working class and its allies. It was also done in the 1960s and in doing so brought down the system of legal segregation. And we see it again today in the incredible efforts of millions of working people of all races and nationalities and their allies to elect Barack Obama and larger Democratic Party Congressional majorities in November. Indeed, it is a task that takes on even greater significance given the financial storm that is shaking our country.

For the moment however, the American people and their friends in Congress are faced with a first class challengeto impose their own imprint on the way in which this financial crisis is resolved. Let's have no doubt that our financial system can be stabilized and restored to its orderly functioning in a way that meets the needs of the American people and our country. But will take a fight!

Sam Webb is chairperson of the Communist Party.
 
Send Comments:  pww@pww.org      cpusa@cpusa.org

lunes, 22 de septiembre de 2008

Bob Chapman http://www.theinternationalforecaster.com



US Mortgage bailout at half a trillion, Loss of confidence means end of credibility in the markets. Phony wars, phony values in real estate will cost all of you, financial companies bought out, power consolidated in financial markets, Gold on the rise, stock markets as volatile as a drunken sailor, why are the markets rallying after the big bailout

We recoil in disgust at the way these arrogant sociopaths, the henchmen of the Illuminati at the Fed and in our Treasury Department, led by Bernanke and Paulson, respectively, are taking the toxic waste losses of the Wall Street fraudsters and dumping them on the taxpayer sheople, while short-squeezing savvy investors by selectively prohibiting and prosecuting shorts of any kind for the stocks of about 800 financial institutions through early October, which all deserve to be shorted. Between the Byzantine dollar rally, the Saudi crude oil assassination, the peppering of precious metals by pernicious paper-hangers (wasn't Adolf Hitler a paper-hanger at one time?) and the short-squeeze on financials, we wonder how many more hedge funds are going to go under, and take everyone else with them in the process, as Lehman gets cannibalized just in time to rack up mark-to-market losses for the sheople to eat in the latest bailout bonanza for the fraudsters, soon to be revealed as the Resolution Trust Company II solution?

Bailing out the toxic mortgages found among the half of US real estate mortgages held or guaranteed by Phonie and Fraudie, some 5+ trillion worth, was not enough for them. Now, they want to pawn the rest of the toxins from the other half of US mortgages, which they estimate will be about a half a trillion. Gee, didn't they tell us the Iran War would cost 60 to 200 billion, only to find out later that when you add in future costs for veteran's disabilities and pensions, the cost could top 3 trillion? And didn't Bernanke tell us that the fallout from the subprime situation was contained? Of course, that was before we saw fraudsters around the world eat $350 billion and counting. And didn't all the fraudster CEO's keep telling us that their walking dead zombie companies were sound and liquid right up to the time that their shareholders got vaporized? Aren't you starting to get a little tired of all the lies? Can we trust even a single word spoken by anyone from Wall Street, the Fed or our "beloved" Treasury Department anymore? The Street, the Fed and our government now have ZERO credibility. This loss of confidence is going to take the markets down no matter what these reprobate and sociopath elitists do.

You will eat multiple trillions of dollars from each of the following: (1) The phony War on Terror; (2) the loss in real estate values caused by record inventories that will be created by defaults and foreclosures resulting from rampant unemployment, loan fraud, over-leveraged consumers and ARM and Option ARM resets; (3) the combined bailout of Fannie's and Freddie's share of the toxic waste contained in the approximately half of all US mortgages which these cess pools have made or insured, plus the losses from the Resolution Trust Company II bailout of the toxic waste from the remaining half of US mortgages; (4) the shortage in the FDIC's insurance reserves that will be generated by losses incurred on account of what will be anywhere from 1,000 bank failures, as suggested by billionaire Wilber Ross, to perhaps as many as half of all banks in the US, as recently suggested by Ken Lewis, CEO of Bank of America; (5) the PBGC's funding shortage to cover losses suffered by pension plan beneficiaries on account of pension under-funding caused by what will be the loss of as much as half of the value of all US equity shares; (6) the bailouts likely to occur when the credit default swaps and interest rate swaps, along with the entire bond market, go under in what will be the greatest bear market of all time in both bonds and derivatives, which are guaranteed to occur based on the hyperinflation that will be caused by all the other bailouts just listed, as well as by our continually burgeoning budget and trade deficits, the resulting double digit interest rates which will become necessary in order to combat inflation and to properly reward risks, which are about to escalate in astronomical fashion, and to attract foreign investment, which will soon drop to nil based on negative rates of return; (7) the loss in purchasing power due to hyperinflation generated by 1 through 6 above; and (8) the new wars for profit that will be started in order to restart our vaporized economy in the wake of the death and destruction caused by 1 through 7, above, and you can also add in the costs associated with potential social unrest and revolution that are almost certain to occur. When number 6 above comes to fruition, the entire world economy will implode and go into deep depression. None will escape the coming juggernaut of losses when the glowing, quadrillion dollar Derivative Death-Star goes supernova. The entire world economy will get sucked into the resulting financial black hole.

The Resolution Trust Company II will be rammed down the throats of Congress, just like (1) the Federal Reserve Act that has been used to inflate the middle class out of its wealth by imposing a stealth tax which is used to fund profligate government spending and enrich private banker's with their debt-based fractional reserve system of banking; (2) the passage of the US Income Tax, which is used to enslave and impoverish US citizens and to ensure payment of the US Treasury's debt to the Federal Reserve on its treasury paper; (3) the repeal of the Glass-Steagall Act by the Gramm, Leach, Bliley Act, which is what paved the way for the speculation, fraud and conflicts of interest that always arise when commercial banks and investment banks are allowed to be merged under one entity, as we just saw happen with Bank of America when it bought out Merrill Lynch, and this poisonous piece of legislation is what allowed the Illuminist bankers to pawn off the toxic waste which their investment banking division created for its investment banking clients, after getting fraudulent AAA ratings from the ratings agencies, on their hapless, sucker-dupe commercial banking clients; (4) the passage of the toxic Commodity Futures Modernization Act, which freed the then fledgling OTC derivatives market, including credit default swaps and interest rate swaps, from the regulatory power of both the SEC or the CFTC, leading to an out-of-control, unregulated, under-collateralized, quadrillion dollar volcano of smoldering, molten risk that no one understands in terms of its scope, its interrelationships and its counterparty risks, and now these financial weapons of mass destruction threaten the worldwide financial system; (5) the passage of the Iran War resolution based on Bush Administration lies regarding Saddam Hussein's supposed weapons of mass destruction and involvement in 911, which has led us into yet another bloody war for profit under the guise of security, democracy and freedom, and which has resulted in the killing of millions of Iraqi civilians and thousands of our soldiers (move over Hitler, Mao and Stalin, the Illuminati and their neocon henchmen are just getting warmed up as they take their shenanigans to the Balkans); (6) the approval of both Patriot Acts to help us fight the evil Osama Bin Laden and the phony "War on Terror" while dismantling our Constitutional rights; (7) the approval of the Military Commissions Act which makes all dissenters into "enemy combatants" and takes away their right to habeas corpus; (8) the passage of the John W. Warner Defense Authorization Act of 2006, which repeals Posse Comitatus, meaning that our military forces can now be used against our own citizens for the first time in our history, and contrary to our Constitution; and (9) the Fannie and Freddie bailout, which was just authorized so the fraudsters can dump their slime on taxpayers in a futile attempt to save their precious system of Ponzi-schemes and insider trading which is becoming unraveled right before their eyes. This is why all incumbents, except for Ron Paul, must be voted out in November.

The House Finance Committee, headed by Rep. Barney Frank, and the Senate Finance Committee, headed by Sen. Christopher Dodd, will give it their usual Boo-Boo, response: "I don't know, Yogi," in order to give the clueless sheople the appearance that they are going to protect taxpayers from the slimy bankers, when the reality is, it is already a done deal and has been planned long in advance, probably for many months, if not years, just like the Patriot Acts. What you are seeing happen right before your eyes is the revenge of the Illuminati for the passage of the Glass-Steagall Act. Not only have they repealed that act, but now they have reverted our system back to the way it was when the Stock Market Crash of 1929 occurred. This is why Bank of America jumped all over Merrill Lynch, and why you are hearing continual overtures for Goldman Sachs and Morgan Stanley to do the same, with claims that their business models are flawed. The fane-stream media now tells us that we need such combinations to give our financial institutions greater strength and staying power in the face of a crisis, when it is such combinations that are responsible for creating the crisis in the first place. This is the classic Hegelian Dialectic on steroids: first create the crisis, and then propose the predetermined solutions, stuffing them down everyone's throats, if necessary. If you want to see institutions that will automatically be deemed to be too big to fail the next time they defraud the public, just check out the gargantuan financial behemoths that will emerge out of the current crisis!

Note how this was all set up. First, all the legislation was put into place. Then the system is brought into a crisis situation, which was easily accomplished through deregulation, in order to propel us into a situation where the Illuminists are allowed to consolidate their power with the full blessing of the dopey sheople. Note how Bear Stearns was assassinated just before the Fed opened up its Primary Dealer Credit Facility and its Term Securities Lending Facility, which could have saved BS. They arranged to have BS's clients abandon them and withdrew BS liquidity and credit, and down they went, payback for not helping in the LTCM bailout and for not joining the Illuminist club. Then they string out all the other big commercial and investment banks, to see which ones would turn out to be the keepers, because the carnage was so bad and so widely spread that no one could tell which of the big commercial and investment banks might survive, if any. They needed time to figure out who the survivors would be. Hence, all the desperate bailouts dripping with moral hazard were made to keep them all afloat while they were attempting to make this determination. They decide to let Lehman fail because their condition is irredeemable and it looks like criminal charges may come up at some point due to shenanigans that management committed against their employee's pension money, making them a hot potato. They pair up Bank of America with Merrill Lynch, and we see JP Morgan Chase and possibly Wachovia pairing up with Goldman Sachs and Morgan Stanley, respectively. Wachovia and Morgan Stanley are already in talks for a merger. AIG is being preserved to see if they can be fit into the consolidation scheme once all their problems have been sorted out.

To support the survivors, they then announce the Resolution Trust Company II bailout, kill all shorting of over 800 financial companies, and then spew out money and credit throughout the international banking system in amounts that are nothing short of spectacular. This is an outrageous, unbelievable, unprecedented consolidation of power, which flies in the face of free markets and paves the way for an ever-burgeoning corporatist, fascist police state. Hanky Panky wants to give the Fed sweeping regulatory power over this new group of behemoths who will control everything, while occasionally allowing crumbs to fall off their table for the little guys to gobble up. And there will be far fewer of the little guys to worry about after the carnage in the banking sector has finally ceased.

This is not a sure thing for them. The fraudsters remaining, even the big guys, could still fail, that is how bad this situation has become. The Illuminati are quaking with terror that they have overdone things and that they could end up destroying the whole system irreparably. That is why we are having all these bailouts stuffed down our throats.

Gold and silver went on a moon shot this week, with gold setting a new all-time record for a one-day increase in value. That is what happens when you keep pressing on the lid of a pressure cooker, trying to keep boiling, molten precious metals from escaping. Aiding gold and silver was the unraveling of longs in the USDX futures market, who were forced to cover because they had pushed the dollar up as far as it could go. Suddenly, the 93,701 contracts of open interest on Tuesday were reduced to 52,872, being cut virtually in half. That means the dollar rally is over and the ever more desperate bailouts are going to undermine confidence in the dollar. Soon, all these trillions in bailouts may lead to a downgrade of our treasuries, as our debt load will soon reach unsustainable levels, no matter how much the PPT tries to manipulate the markets. The stupidest dolt should be able to figure out that much.

The stock markets are shooting up and down with unprecedented volatility, bobbing and weaving like a drunken sailor as the PPT tries to fight the gravity created by the financial black hole created by the collapse of the Bailout Death-Star and the total lack of confidence of market players who are finally starting to realize that CEO's, Treasury Secretaries and Fed Chairmen are little more than pathological liars, and that the markets are rigged in ways that make China and Russia green with envy. Look at the condition of the Russian and Chinese stock markets, which are being vaporized, compared to ours, which has been placed in a state of suspended animation by the PPT anti-gravity machine. Hey Russia, and China, take some notes. We'll show you what it means to be a died-in-the-wool Marxist/Communist state! And we lead by example, so pay attention. Remember, the satanic trillionaires that run our command economy from behind the scenes are the ones who set you up and financed you. They are the true masters of Communism and Marxism! You guys are amateurs!!!

Do you really think the markets are rallying because everyone is impressed with the new string of bailouts? All the pros know where this is leading us, and they are de-leveraging. If you want to know why the markets are rallying, besides tens of billions of dollars being unleashed from the repo pool for insidious and in-your-face manipulations, check out the yen. At 9 am on the 16th, it was super yen, at 103.650 yen per dollar and 147.592 yen per euro. Now suddenly, despite the dollar crash, the yen has wimped out, and as of 2:25 pm on Friday, it stood at 107.065 against the dollar, and at 154.653 against the euro. Rally mystery solved. Let's get ready to rumble!!!

The members of Pink Floyd become prophets for America. Thanks to all the Illuminist lies the sheople have been injected with, the Goldilocks Matrix remains in tact. Yes indeed, you have all become "comfortably numb.


"O.K.
Just a little pinprick.

There'll be no more aaaaaaaaah! But you may feel a little sick.
Can you stand up? I do believe it's working, good. That'll keep you going through the show

Come on it's time to go.

There is no pain you are receding

A distant ship, smoke on the horizon.

You are only coming through in waves.

Your lips move but I can't hear what you're saying.

When I was a child

I caught a fleeting glimpse

Out of the corner of my eye.

I turned to look but it was gone

I cannot put my finger on it now

The child is grown,

The dream is gone.

I have become comfortably numb."

Group: Pink Floyd; Album: The Wall; Song: Comfortably Numb
We hope and pray that the dream is not yet gone, and that Americans get a fleeting glimpse of our former glory and greatness, and that they wake up and stop allowing these scum-bags to have their way with them.

RIP Richard Wright

Fotos 2: UN International Peace Day, Parlacen Pma. Rep. Prof. Álvaro Menendez Franco, Inst. Fermin Naedeau student teatro "Arco de Fuego" scenes on "domestic violence"



domingo, 21 de septiembre de 2008

Jenny q.e.p.d. 9-08 Salvaguarda Artesana del Casco Antiguo

Organizaciones Unidas Pro Salvaguarda del Patrimonio de San Felipe (OUPSAF)

Oficina: 7-49 Avenida A, San Felipe, Centro Histórico de Panamá

Email:  oupsaf@yahoo.com  Cel.: (507) 6626-8932

Adscrita a la UNESCO-WHC , Paris, Francia

Registro: S.C. Nº 1060132 Index Card: 25053 Diciembre 2006

Panamá, República de Panamá



Resolución de Duelo

 

Considerando:

 

Primero:         Que el Jueves, 19 de septiembre de 2008 dejo de existir en la Ciudad de Panamá la compañera Jenny Alexandra Mero.

 

Segundo:        Que Jenny era miembro de la Salvaguardia del Distrito Histórico de San Felipe (OUPSAF) y miembro fundadora de los Artesanos Unidos del Casco Antiguo (AUCA).

RESUELVE:

 

Primero:         Lamentar como en efecto se lamenta la desaparición física de nuestra Compañera Jenny Alexandra Mero.

 

Segundo:        Presentar nuestras condolencias a su querida Madre, a su esposo y a sus queridos hijos, como muestra de aprecio y cariño a tan distinguida compañera que q.e.p.d.

 

Firmados:

 

Presidente de AUCA  Lic. Adán Cerrud Sánchez  

Secretario General de OUPSAF  Aníbal Chacon González

Vicepresidente AUCA Claudio González

Tesorero AUCA  Artemio García

Fiscal AUCA  Gilberto Árcia

Vocales:   Maritza Lezcano,

      Ildaura Granados

 

Dado en el Distrito Histórico de San Felipe, Ciudad de Panamá a los 23 días del mes de septiembre del 2008.

 

 

 

 

 

Basta Ya!--USA
Ciao,

507-6599-5679
http://arkinstitute.org (crisis in sustainable nonhybrid agriculture)
http://www.marx.org (Marx Engels works)
http://solidnet.org (what communist/workers party declare)
http://cpusa.org.
http://discuss.cpusa.org
http://www.stopfta.org
http://sanfelipeahora.blogspot.com
http://www.globalinfo.org
http://www.mfso.org
http://www.thepowerhour.com
http://www.infowars.com
http://www.infowars.tv
http://ufw.org
http://www.socallib.org
http://www.expendableelite.com
http://www.articbeacon.com
http://www.ppnf.org (Root Canal Cover Up, since 1917)
http://www.healthfreedomusa.org
http://www.corpwatch.org
http://www.radioliberty.com
http://www.alternativabolivariana.org
http://www.aporrea.org
http://www.congresobolivariano.org
http://www.westpointgradsagainstthewar.org


lunes, 15 de septiembre de 2008

Fw: [alai-amlatina] En Bolivia se define el continente

Eric,
http://thepanamanews.com has generic permission to use this article as is, just indicate the source and credit author.  It is a very explicative article.  Please consider publishing.  I know we will get comments and gain regular loyal readers too.
 
This article goes well with article by Bob Chapman in http://www.theinternationalforecaster.com -------"USA financial meltdown." 13 September 2008.  "The private corporate appropriation of the social wealth game is over!"

Basta Ya!--USA
Ciao,



--- On Mon, 9/15/08, alai-amlatina@alai.info <alai-amlatina@alai.info> wrote:
From: alai-amlatina@alai.info <alai-amlatina@alai.info>
Subject: [alai-amlatina] En Bolivia se define el continente
To: alai-amlatina@listas.alainet.org
Date: Monday, September 15, 2008, 5:12 PM

- - - Servicio Informativo "Alai-amlatina" - - -  Pasado, presente y futuro de las democracias latinoamericanas En Bolivia se define el continente  Isabel Rauber   ALAI AMLATINA, 15/09/2008, Buenos Aires.-  Mirando el mundo, pero particularizando en nuestras tierras y deteniéndonos en la situación de Bolivia, se hace evidente que –tal como están  las democracias resultan cuando menos insuficientes para contener, expresar y proyectar la participación madura y creciente de la ciudadanía, en el entendido  supuestamente aceptado y vigente  de que la condición ciudadana es universal. Y es esta una de las definiciones/decisiones con las que la democracia debe ponerse a tono en este siglo.   ¿Democracia de quiénes y para quiénes? ¿Todos tienen realmente los mismos derechos a ejercer la ciudadanía? ¿Pueden los pueblos realmente decidir democráticamente sus destinos, mejorar sus condiciones de vida y convivencia? ¿Hay un contrato social capaz de sustentar estas aspiraciones?  Recorriendo los territorios políticos del continente, rápidamente se detecta que los paradigmas democráticos, tal vez por ser escasamente practicados, evidencian sus grandes flaquezas, algunas de ellas, por su desembozada orientación de clase a favor de los poderosos, otras –además de eso  por su notable obsolescencia social y cultural. Esto habla de la urgente necesidad de actualizar/cambiar el contrato social (político, económico y cultural), que sustenta nuestras sociedades.   Si centramos las reflexiones en la realidad boliviana actual ello es incuestionable, pero a la vez se instala fuertemente una interrogante: ¿Hay posibilidades?, ¿Existe un interés colectivo en construir un mundo civilizado, que habla –mínimante- de compartir, de repartir y reclama tolerancia, o los poderosos de siempre -quitándose la máscara- adoptarán una vez más la violencia, la exclusión, la mordaza y la muerte como basamento social de sus lujos y avaricias?   Se trata de una disyuntiva de vida y de modos de vida. Y está en juego hoy en las calles y campos de Bolivia y  con ellos , en todos nuestros territorios. Es asunto de tiempos y acontecimientos. Bolivia evidencia que la opción dictatorial travestida en los golpes "cívicos" expresión concentrada del egoísmo y la intolerancia extremos de los poderosos, busca re-instalarse como opción política (y económica) en tierras latino-americanas, contando  una vez más  con la intervención de la mano amiga ("agenda positiva") del poder de los "americanos".  La democracia representativa tiene entre sus fundamentos el voto de las mayorías. Cuando esto funciona bien para los intereses de las minorías en el poder (y del poder), estas no levantan ninguna objeción. Cuando –rara vez por cierto- ocurre lo contrario, la máscara y el discurso universalista desaparece y aflora sin tapujos el contenido de clase de la democracia que soportan y sustentan. Para ellos no hay principios democráticos generales, sino solo aquellos que les permiten defender y extender sus intereses. Cuando no es así, no dudan en boicotear la democracia, pisotearla, secuestrarla y matarla, al tiempo que lo hacen también con la ciudadanía que la defiende. Esto es lo que mostró hace 35 años el golpe a Allende, en Chile, y lo que hoy muestra crudamente la realidad boliviana. No es de extrañar por tanto que los grandes medios de comunicación –funcionales a los poderosos- se empeñen en distorsionar los hechos y en vez de hablar claramente de sedición contra las instituciones, de abierto irrespeto a la democracia y la constitución por parte de los golpistas, hablen de un conflicto entre "dos bandos".  Pero no hay "dos bandos". Existe un gobierno legítimo y un sector social de inadaptados sediciosos antidemocráticos, incluyendo gobiernos departamentales, que no quieren atenerse a las normas democráticas, y que  conscientes de que se les acabó la fiesta macabra del saqueo, la explotación, el robo y la humillación , en inocultable estado de desesperación, transforman su intolerancia en violencia y destrucción desembozada. El detonante no ha sido ni el "bono dignidad" para los ancianos, ni las falsas identidades regionales que clamarían por un separatismo, sino una intoxicación impotente de racismo y clasismo profundos que explotaron descontrolados luego del aplastante resultado del referéndum revocatorio, al cual se opusieron precisamente porque ni ellos mismos se creían las mentiras que producían a través de sus medios cuando afirmaban que Evo no tenía apoyo ni legitimidad. Su intolerancia, irrespeto a las instituciones y a la democracia estallan tanto cuando pretender insultar al Presidente Evo acusándolo de indio, como cuando desconocen los resultados electorales por la pertenencia étnica de los votantes. Basta de pretextos: el problema es el entrecruzamiento de intereses de clase y prejuicios raciales. Para los blancones del poder el voto indígena y pobre no vale, excepto cuando se les subordina, y tampoco vale la democracia, salvo cuando es para ellos. De ahí también el rechazo a aceptar el referéndum por la nueva constitución. Porque de aprobarse –lo más probable-, tendrían que aceptar no solo la legitimidad del voto indígena y pobre (mayoría) que la aprobará, sino el que estos sectores y actores puedan estar directamente representados y participando de la toma de decisiones. Y eso ya supera sus "sentimientos" y declamaciones democráticos, y pone fin a toda finta de tolerancia.   La exclusión tiene un origen y contenido clasista y racista, y también se expresa y actúa en lo político. Intereses de clases, racismo, modos de representación e institucionalidad están estrechamente unidos. Es saludable tener presente que el "descubrimiento", la conquista (exterminio) y colonización de América se hizo en función de la acumulación originaria del capital, y luego se afianzó para mantener y aumentar las ganancias, los privilegios y el poderío de los conquistadores y sus herederos en el poder.  En Bolivia queda evidenciado que los poderosos han utilizado y utilizan la democracia como sistema de dominación y no como derecho humano ciudadano pleno, porque nunca incluyeron a los derechos políticos ciudadanos como parte de los derechos humanos, ni a estos como fundamento de la democracia, ni consideraron a los indígenas seres humanos, menos entonces los reconocerán dentro de su pequeño espectro de derechos civiles (civilizados).   Pero las limitaciones de la democracia no empiezan ni terminan en Bolivia. La pugna de intereses, y su distorsión y castración en función de los poderosos, hace aguas y perfora lo discursivo abstracto en todas las latitudes. Y esto habla –mínimamente- de la necesidad de abrir el debate acerca de la democracia a toda la ciudadanía.  Anquilosadas en su fidelidad a un mundo basado en la hegemonía de una clase sobre el conjunto de la sociedad, las democracias se desarrollaron para las élites y el mercado. En virtud de ello  legalizando, sustentando y profundizando la exclusión, la explotación y todas las miserias que ello conlleva ,  las democracias abren cíclicamente el camino a las discordias y enfrentamientos fratricidas violentos, en los ámbitos nacionales, regionales y continentales. Es obligación moral para con la supervivencia humana, apostar a cambios sociales (económicos, políticos y culturales) profundos, incluyendo –obviamente- los relacionados con la democracia. Y esto implica, entre múltiples cuestiones, actualizar/cambiar las bases del contrato social que la sustenta, es decir, el propio contrato social. Hay que actualizar, renovar, cambiar los fundamentos jurídicos, económicos, sociales, políticos y culturales para que efectivamente, todos los ciudadanos sean iguales, no solo ante la ley, sino ante la vida y en la vida (pública y privada).  Los actuales sucesos de Bolivia demuestran –por si hiciera falta-, que no se puede seguir escondiendo la basura debajo de la alfombra, haciendo como que. Urge debatir acerca del tipo de sociedad, el tipo de país, de gobierno, de Estado y el tipo de democracia que necesitamos para construir un modo de vida basado en la convivencia en paz entre todos y todas. Y esto no puede limitarse a las agendas sectoriales o a los vaivenes oportunistas de un partido u otro. Es vital convocar/comprometer en ello a la ciudadanía toda, sin distingos ni exclusiones de ninguna índole.  Un debate de esa magnitud, para ser efectivo y sostenible, reclama desterrar la intolerancia, reconocer las diferencias activas, es decir, el conflicto que suscitan, como fuente de dinamismo, de vida. Pueden abrirse entonces tiempos en que la política, retomando su vertiente aristotélica, se manifieste como capacidad y derecho ciudadano pleno a expresar las opiniones y propuestas, haciendo del conflicto el vehículo del debate, los diálogos y la búsqueda de consensos. Volverá entonces la política, plenamente, al terreno de la vida civil ciudadana, abriendo las puertas al florecimiento de la inteligencia e imaginación colectivos, propios de los inagotables anhelos humanos de perfeccionamiento y superación.   Un mundo de paz reclama sociedades que se constituyan y se asienten sobre la base de la justicia y la equidad sociales (económicas, culturales, políticas), el pluralismo, la tolerancia  y el respeto a los derechos humanos en todos los órdenes y ámbitos de la vida humana. El egoísmo, la exclusión, la unicidad, la violencia y la búsqueda de ganancia sobre la base de la explotación humana como sustrato del orden social son valores propios de una civilización agotada junto con el siglo XX. Sostenerlos y pretender justificar su supervivencia en el siglo XXI, resulta culturalmente tan retrógrado como el medioevo lo fue para la república.  Hacernos cargo de la experiencia y la cultura de la humanidad, implica apostar a la paz social en los ámbitos local, regional, continental y mundial. Esto reclama hoy imperiosamente hacer efectivo el respeto a las diferencias, a la existencia de diversas culturas, identidades, miradas y modos de vida, conjugándolos en un nuevo contrato social sobre cuya base se construya una sociedad (Estado) plural, multi e intercultural, que haga de los principios democráticos del derecho a ser y vivir diferente, la base para la construcción de una democracia plural con significación efectiva para todos y todas.  Es lo que reclama -por disímiles vías- la humanidad conciente en el siglo XXI. Y es lo que está en juego y se dirime hoy en Bolivia.  - Isabel Rauber es doctora en Filosofía. Estudiosa de los movimientos sociales latinoamericanos. Más información: http://alainet.org ______________________________________ Agencia Latinoamericana de Informacion email: info@alainet.org  Suscripciones: http://listas.alainet.org/listas/subscribe/alai-amlatina Desuscripciones:  mailto:sympa@listas.alainet.org?subject=UNS%20alai-amlatina   

The USA financial meltdown, 6,000+ bank runs as described by Bob Chapman in http://www.theinternationalforecaster.com

Watching the future of America as debts pile up,Unloading US dollars could be detrimental to the economy, efforts to manipulate gold continue, 100 billion in losses already written off, South America heats up the Cold War, Saudi walks out of OPEC,  

  "By the pricking of my thumbs, something wicked this way comes."  This line from Shakespeare's play, "Macbeth," comes to mind when we consider the future of America as we watch our government continue to take on debt after debt after inane debt, heaping more and more responsibility for the financial obtuseness of its privileged elite on its hapless peon taxpayers, profligately spending, borrowing, bailing out and inflating us into some sort of nightmarish, moral hazard oblivion.  Welcome to our new Banana Republic, a country that is now characterized by nonstop hyperinflation, bailouts and moral hazard - and which will soon decline into another Great Depression.  The nationalization of Fannie and Freddie has set us on a path from which there can be no return, carving out for us a much wider and deeper swath of financial death and destruction of a magnitude never dreamed of by even the most pessimistic among us.  Our economy is now in a temporary state of suspended animation by use of an economic act of smoke and mirrors, with the Sword of Damocles waiting overhead, waiting to chop us into tiny pieces.  The implications are dire.  And worse yet, this has all been planned for a while now, having been decided by the Illuminati soon after they watched their precious system burn to the ground right before their eyes a year ago in August.  Hence, you heard Goldman Sachs pronounce late last year:  "Short Gold for 2008."  They knew this was coming last year, because these evil reprobates planned it to happen that way.  They knew the jig was up when their subprime plot was exposed by analyst Meredith Whitney of Oppenheimer & Co.  They knew the implosion of Fannie and Freddie would happen eventually when the fraudulent mortgages started to go bad, but it happened far sooner than they had wanted or expected, and caught them with their pants down.  So, what was supposed to be a future plan to merge our mortgage lending system into their growing corporatist, fascist, financial structure, was moved from the back burner to the front burner, and now you all see the results in spades.

What we may be witnessing here is a combination of internecine warfare between American and European branches of the Illuminati, mixed in with financial warfare between countries that are not yet totally owned and controlled by the Illuminati, like China and Russia, and those countries which are under the Illuminist yoke, like the US, Canada, Europe and Japan.  Note that the Middle East countries like to play both ends to the middle, by pitting the Europeans against the Americans, or Illuminist dominated nations against non-Illuminist nations, which often adds clouds of confusion to events going down on the international front.

The European Illuminists are livid with their American counterparts, who have systematically weakened the dollar to shore up the trade deficit by making European exports more expensive after dumping hundreds of billions worth of fraudulent real estate derivatives into the European sector, derivatives which continue to implode at an ever-accelerating rate and which may act as a catalyst to lead Europe into depression as well.  Their gripe on the derivatives is legitimate, but they know the dollar should have weakened long ago against the euro, so they are blowing smoke about dollar weakness and the American Illuminists know it.  Nevertheless, the European Illuminists are demanding, by way of apology for the derivatives debacle, that the dollar be strengthened to save their staggering economies from imploding, and that the GSE debt which they own a lot of, especially via their OPEC clients, be nationalized to ensure payment when Fannie and Freddie implode.  They know that the final vaporization of Fannie and Freddie is now only a question of "when," not "if."

The Japanese are caught in the middle between the Americans and the Europeans who want revenge, and their economy is being destroyed because of it.  While the Japanese are benefiting from the GSE bailout because they own lots of GSE bonds, the weakening of the euro and the dollar against the yen is destroying their export economy and the yen carry trade and leading them into depression as well.  

And then there are the non-Illuminist nations who have lots of dollar-denominated treasuries and agencies as well, bought with trade surpluses made possible by artificially lowering the value of their currencies against the dollar through illegal currency manipulations.  This has made them very powerful economically, and has greatly helped to power up their economies, especially Russia and China.  The Illuminati are now picking fights with them in poorly executed attempts to embroil them in pointless, expensive and what they hope will be unwinnable wars.  The purpose of these bogus, false-flag conflicts is to reduce the dollar reserves and drain the power of non-Illuminist nations, thus leveling the playing field.  That playing field is now out of kilter on account of the doltish, bonehead, Illuminist schemes to implement free trade, globalization, off-shoring, outsourcing, and both legal and illegal immigration.  Such schemes have been used in a pathetic attempt to improve the prospects for world government, but have instead greatly hindered the efforts to establish world government by weakening the Illuminist centers of power vis-à-vis the non-Illuminist centers of power.

These non-Illuminist nations have undoubtedly threatened to burn the US to the ground, not via a nuclear war, but via hyperinflation to be unloaded on the US by the sale and repatriation of its treasuries and its agencies, and by the refusal to finance its ever-burgeoning deficits by shunning future purchases of these instruments.  They have threatened to turn off the credit spigot and bring the US economy to a screeching halt, thus leading it on a short path to deep depression, if the US continues to weaken the dollar, and fails to make good on its agency paper which would otherwise be vaporized by the subprime fraud.  They are also sending a message about the bogus, false-flag wars and conflicts that the Illuminists are trying to pick with them, and Russia has threatened to start a new Cold War, if necessary.  It is hard to sympathize with the Russians and Chinese after what they did in the aftermath of WWII, but nevertheless these endless wars for profit and geopolitical power have got to stop before we end up burning the earth to a cinder in a senseless world war of self-extermination.  The Illuminati will likely get their world government all right, once the earth has been reduced to a toxic, uninhabitable, burning lump of fused atomic elements.  Congratulations, morons, if and when that happens.

So the Illuminati have been forced by these circumstances to re-strengthen the dollar, and to bail out the GSE bondholders.  They made the other nations wait until the time was right, meaning that they wanted to implement this appeasement at a time of their choosing, the objective being to make America look strong economically right before elections to keep their incumbent henchmen in power.  They also managed to wedge in an oil/food/commodity profit extravaganza for the tanking fraudsters along the way, with a nice little temporary trade deficit reduction thrown in for good measure via the weakened dollar.  Hence, just before elections, the dollar has been pushed up, and the GSE's have been nationalized.

This is what they get for making us into a debtor nation in a foolish attempt to sacrifice their base of power on the alter of world government.  They thought they could do this while maintaining the balance of power.  We have news for them.  They have failed utterly.  The destruction to their power base is not the controlled demolition they had hoped for to push us into a corporatist fascist system. All they have managed to do is destroy their base of power, and now they are running around like chickens with their heads cut off, fomenting wars, conflicts and other schemes, while appeasing the many nations they have angered and bloodied along the way, in a pathetic attempt to restore the balance of power.

Gold and silver had to be crushed, otherwise their moves would have been exposed as financially unwise and toxic, and the Fed would look like an institution of imbeciles.  Oil and commodities had to be tamed in the process as would happen in any case by virtue of a strengthening dollar, and this has helped them to give the sheople the appearance of improvement on the inflation front to benefit incumbents, even though inflation is still raging.  Naturally, the stock markets had to be supported as well in keeping with the ruse, and the PPT henchmen must be exhausted from the unbelievable manipulations we have witnessed over the past few months.  The elitist have gone completely berserkers with the latest run of market fraud, and they are going to pay for this raging fraud later when the class action lawsuits are implemented and the discovery exposes their machinations.  Look at the open interest on the USDX futures.  The previous record during a dollar rally of 58,595 contracts was set on December 14.  This Thursday, the USDX futures posted a gargantuan 94,021 contracts, shattering the previous all-time high by 35,426 contracts, an increase of more than 60%.  That is how desperate they are.  Oil has briefly dipped below 100, to 99.99, and the dollar spiked through 80 to a high of 80.395, and now suddenly, as we predicted might happen, everything has reversed and gold and silver are starting to rally again.  Let's see if this is this new trend is going to continue, or if the Illuminati have some October surprises in store for us to benefit incumbents.  Keep loading up, because the prices you are getting now on gold, silver and their related shares will never be seen again.  If you do, you will be a very happy camper in 2009.

It is obvious that the FDIC lacks the capital to back up its claims of the rescue of the American banks. IndyMac was a $10 billion problem, but the other ten failures this year were much smaller. This, like in the instance of Fannie Mae and Freddie Mac, will cause our government soon to bail out the FDIC with funds that do not exist. They will have to create more debt in order to accommodate our banking system pushing government further into the hole. Incidentally, the Federal Reserve faces the same problem. No one has the money to meet the guarantees. That is what we just found out in the cases of Fannie and Freddie.

Our government will have to sell more bonds to accommodate these financial demands and they become the obligation of American taxpayers. That is immediate monetization of those funds, which will be highly inflationary.

Just to give you a prospective of banking health, they have already written off more than $100 billion. They made $5 billion in the second quarter down from $30 billion plus quarters in recent years. The FDIC reports that the total assets of 8,451 institutions it insured fell to $13.30 trillion from $13.37 trillion in the first quarter, the largest drop since 1987.

Most of the above losses were due to CDOs, SIVs and ABSs, plus the failure of loans and mortgage loans. They do not reflect the deterioration of the financial condition of the bank's customer bases. There are many who are not current on their loans and banks are starting to write off other loan losses. As a result loan loss reserves are lower for the month and consecutive quarter leaving banks with 88.5 cents for every $1.00 in non-current loans.

Banks are lying about their financial positions. They are hiding losses on and off balance sheets. The bad FDIC list isn't 117, it is more like 2,000 but they won't tell you that. They lie about everything as well. That is frightening but worse more frightening is the fact that the FDIC has one-cent in reserves for every dollar it is responsible for. Worse yet, there are $4.1 trillion of uninsured deposits in banks. That is in addition to $8.6 trillion covered by only one-cent per dollar. If that doesn't frighten you, you are just plain dumb.

Then you look at Lehman's books and you find they are bankrupt and the South Korean government agrees with us. Incidentally no one in the US media carried the government of South Korea's comments.

Half the investment banks, brokerage houses and insurance companies are insolvent. Just wait – you will find out.

All we see is patchwork, smoke and mirrors and political expediency. Lies, lies and more lies.

Iraq and Afghanistan continues and the possibility of a cold and hot war with Russia is a possibility.

After looking at the events of the past three months we believe the Cold War could be a put up job involving Russian collusion with the Illuminati. We just don't know for sure yet.

The financial system is falling apart, which is part of the disintegration process. All these other events are distractions to obfuscate the fact that the game is over. It is only a question of when does the bottom fall out.

Follow our advice and get your excess capital out of banks, even brokerage houses are safer. Buy gold and silver coins and shares and Swiss franc government bonds. If you do not you may lose everything.

Warren Buffett's Berkshire Hathaway has told its subsidiaries to stop insuring bank deposits above the amount guaranteed by the FDIC, which deals a major blow to the financial services industry as it tries to calm anxious customers. Now what does that tell you? It tells us it is panic time, as Warren and his gang of traders run for the hills.

Their subsidiary KBS is one of only a handful of firms, which offer bank deposit guaranty bonds. This shows you how worried Mr. Buffett is about future bank failures. This is insurance beyond FDIC insurance for accounts over $100,000. At Columbian Bank and Trust, which went under, 610 accounts worth $46 million was covered by KBS and it caused them to lose money. Buffett has no further confidence in the banking system, so he is pulling out. That should be a lesson to those of you who have more money in banks than you need for current operations.

Now that American taxpayers have taken over Fannie and Freddie, Bill Gross is a seller. He is telling people on CNBC that mortgage paper is an attractive investment, while he is a seller.

Don Coxe is chairman and CEO of Harris Trust in Chicago and is one of the most respected mainline investment authorities in the US. We quote him here in regard to market manipulation by the US Treasury and the Fed. "This has done more damage to my personal wealth than anything in the last 20 years. I have too much respect for how US authorities engineered the collapse in commodities, a move that was necessary to shore up the global financial system to be bitter. My attitude is – goddamn it, they're good – it was brilliant." This guy is mainstream and doesn't realize they have engineered a catastrophe. There are no longer any free markets.

Lehman Brothers' losses were far more than expected and they may go under. They failed to purge their balance sheet as Merrill Lynch did. Richard Fuld released a convoluted, manipulated quarterly report filled with accounting chicanery that would make Mr. Ponzi proud. The true write-down should have been $7.8 billion. Business for the first nine months of the year fell 28%, reflecting a rapid deterioration of their ability to conduct trading and investment banking. Other houses are avoiding doing business with them. Their commercial and residential mortgage paper of $50 billion is probably worth $25 billion, or more. They want to sell 55% of their investment management business, which is deteriorating as markets implode and investors leave the market. If the Fed does not rescue Lehman they are toast.

S&P has re-rated Washington Mutual to negative from stable. Debt market players are now assessing liquidation of WaMu and they believe that on a liquidation basis, best case, that debt holders are covered at slightly more than 60% of the total amount of debt outstanding. This means bankruptcy. Move any accounts you have at WaMu out of there now.

The WSJ reports that 1,082 businesses and some individuals filed for Chapter 11 in August, up 38% from July. The average this year to date has been 745. Goldman Sachs in an effort to preserve capital and reduce exposure is telling hedge fund clients that the terms of current margin-lending agreements will have to be renegotiated when the current credit facilities expire.

Fitch says debt liabilities equal $1.6 trillion, or 11% of GDP, with guarantees of $3.48 trillion, or 48% of GDP after the government takeover of Fannie and Freddie.

 The phony dollar rally will end and only one investment will remain gold and silver. The dollar is way over-bought (over manipulated), and gold and silver are way over-sold (manipulated.) the world is in deep trouble and there is only one place to be and that is in gold and silver related assets.

Ron Paul has rejected John McCain's appeal for his endorsement. Paul said: "the idea was that he would do less harm than the other candidate."

Bolivian President Evo Morales ordered the expulsion of the US Ambassador, Philip S. Goldberg, accusing him of fostering divisions in the Andean nation.

The drop in Phoenix home resale prices extended to 16 months in June and is approaching the record of 17 months of decline posted in the early 1990s.

Home prices fell 22.8% from June 2007. It was the fourth monthly double-digit drop.

House prices in Fort Myers, Florida have fallen from $250,000 to $143,000, which means, as I pointed out last month that they might be on the bottom price wise in that area.

An Iraq plan to award six no-bid contracts to Western oil companies has been withdrawn. The companies were Exxon Mobil, Chevron, Shell, Total, BP and several smaller companies. The deals under-mined the efforts of Kurds, Sunnis and Shiites to reach agreement on a hydrocarbon law and a revenue sharing agreement.

Bank of America agreed to buy back $4.5 billion in auction-rate securities from its customers nationwide in a settlement brokered by Massachusetts. They neither admitted or denied the fraud allegations. Its pay the investors and fines and again no one goes to jail.

Saudi Arabia has walked out of OPEC. It said it would not honor the cartel's production cut. It was tired of the rants of Hugo Chavez of Venezuela and the oil minister of Iran.

Saudi said it would meet the market's demand. If this situation continues OPEC is dead. You can see the hands of the Illuminists all over this.

Freddie Mac said Thursday the 30-year fixed-rate mortgage average fell from the previous week to 5.93% with an average 0.7 point for the week ending Sept. 11. In the previous period, the average was 6.35%, and the year-ago average was 6.31%. "Interest rates for 30-year fixed-rate mortgages are down almost 0.6 percentage points over the past 4 weeks, which will help to spur home purchases and loan refinancing in coming weeks," said Frank Nothaft, Freddie Mac chief economist. "Lower rates have occurred at an opportune time, as the July pending sales data from the National Association of Realtors were off 3.2% from June. The Mortgage Bankers Association reported that refinance applications are up 18% over the past 3 weeks through Sept. 5, indicating that refinance activity has already begun to pick up."

 



   
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