What makes some of our fellow bloggers tick? I liken it to the old days of the home slide shows.
What I mean is those days when you and your missus had made some fabulous slides of your holidays and the guests were invited over one evening, given a cuppa and two biscuits and made to watch the first of five boxes of the bloody things, projected onto the far wall, complete with deadpan commentary.
‘And this one’s Nora on the steps of the guesthouse, this one’s Nora walking down the street, this one – it’s a bit out of focus, sorry – is Nora getting onto the boat, this one’s Nora leaning over the rail just before I played a trick on her. Laugh!’
‘What’s this one?’ ventures a guest.
‘That’s Nora, after she belted me one. This one’s young Tel with a silly expression on his face. You gotta love him, don’t you?’
The guests had other plans in mind for young Tel and now had to counter your assault on their senses and invite you both round for their seven boxes of slides from their last trip to the Costa del Sol.
The prevailing mood on those evenings was that there had to be an interesting slide coming up sooner or later.
‘This one’s Maud on the sand, this one’s Maud on the sand but from a different angle and this one’s from Swedish wife-swap – oh no, how did that get in there?’
The only interesting part of the evening was quickly removed from the tray [or carousel, if you were posh].
Other bloggers are more blog-community minded. Whenever they can, they get round their roll of seventeen blogs and admire the Flickr photos which are actually beautiful and do make you long to be there.
Sometimes I wonder about interpersonal blog relations. By definition, you are being pro-active having a blog in the first place. Therefore you’re setting out your stall and hoping you’ll be visited, even better is that you’ll be commented on and the summum bonum – that you’ll be commented on intelligently.
Against this are two things. Firstly, time. There’s very little of this commodity, with RL impinging. Secondly, we have our blogs we go to and there are those we don’t go to.
One fellow blogger has a certain style of blog he reads. Occasionally I email him and suggest I found this blog which was right up his alley. Recently I recommended Northnorthwester to him. Days later, asking if he’d seen this post or that, it was clear he hadn’t and the reason was that NNWer wasn’t on his daily roll. The reason for that was that he hadn’t discovered NNWer for himself. I’d been the one who’d asked him to look.
He’s read Sonus though, apparently and that’s to his credit. Sonus reminds me of DK who has an established reputation and a huge following. You’d have to put Eugenides in there too.
One of the most inventive blogs I’ve yet seen is Lord T’s and yet I seem to be one of two commenting. Now why? Are people reading him and just not commenting or are his articles too long and too taxing for the brain? Or do people not like his style?
Two blogs I really like but admittedly, not always accessible in what they’re saying, are Pisces and Lord Somber. What about L’Ombre too? That man is right on the ball.
The Nourishing Obscurity award this month for Most Improved Blog is split between Ma Cherie, Uber of the Fabulous Avatar [although I fear she's having a go at me] and Angus. Those girls are really rocking at the moment and Angus is on song.
Wednesday, March 25, 2009
[wordless wednesday] your captions should be interesting
[Notice - this pic complies with the current sexual theme of the last two days.][british newspapers] have they changed in twelve years
This is an excerpt from a 1990s article by Natalya Predtechenskaya, for Russian readers:
“The Times” is read by the people who run the country;
“The Mirror” is read by the people who think they run the country;
“The Guardian” is read by the people who think about running the country;
“The Mail” is read by wives of the people who run the country;
“The Daily Telegraph” is read by the people who think the country ought to be run as it used to be;
“The Express” is read by the people who think it is still run as it used to be;
“The Sun” is read by the people who don’t care who runs the country, as long as the naked girl on page three has big breasts.
… It has a nickname – “The Torygraph” after the nickname “Tory” of the Conservative Party. This newspaper has rather a comprehensive news and sports coverage. Some say it has a more objective reporting of what is going on in the world than any other quality newspaper …
… Some British people say that the reporting of “The Guardian” is biased and trendy, concentrating mostly on things like fashions, homosexuals, etc., but still it is enjoyed by its readers ...
… The populars as a rule, however, express no news. There you will find leading articles about murders, games, bingo and lotteries. Because they are in constant competition with each other, they actually all have nude girls in unconventional poses on page three or seven, devote much room to advertising holidays, vacation tours, etc.
I wonder how true all of this is today.
[sonus] understanding issues: part 5
This is part 5 of the Sonus series, in which Gordo and others get theirs.
Dates for posting the Sonus articles: March 16th, 18th, 20th, 23rd, 25th and 27th.
Part 4 of this series can be read here.
A conspiracy is defined as :-
A conspiracy theory alleges a coordinated group is, or was, secretly working to commit illegal or wrongful actions, including attempting to hide the existence of the group and its activities. In notable cases these theories contrast what is represented by the mainstream explanation for historical or current events, as well as the evidence that supports it.
In the case of the suppression of the Price of Gold
Yes, there is a coordinated group, consisting of many Central Banks, and certain Bullion Banks. Yes they are working in secret, - at the LBMA, as that organisation is “secret”, not open to the public. Yes, their actions are illegal in the strict sense, since the suppression (which was intervention in a “free”market) also led to the suppression of interest rates, (further intervention in a “free” market), and as the system further depreciated it created the need to hide, by cancelling the publication of, the growth of M3 money supply. Additionally, increasing “hedonics” were used to confuse accurate measurement of the GDP, (the calculation being made more difficult by the suppressed inflation rates). Towards the end, any statistics published either in the US or the UK relating to these indices were regarded with deep suspicion by economists, who increasingly constructed their own models, thereby fulfilling the last criterior in the definition above, namely the contrast with mainstream explanations of the events, which in the main were banal, and based on the visible, published statistics, there by rendering the MSM explanations inaccurate. For instance, how many times, in articles relating to Gold, do the parties treat Gold as a commodity when trying to predict its price moves?
But that was only a small part of the conspiracy as we shall see.
Let us proceed.
Tracking the conspiracy in the suppression of the Gold price across the Atlantic is difficult.
Beyond the fact that the members of the LBMA are global operators, and the fact that there are large European Banks on the membership list of the LBMA, the LBMA of itself is totally opaque, a private “club” where price setting is not publicly visible. More bullion sales and bullion leasing is conducted through the LBMA than any other market. This is not a “free” market, any more than COMEX is free from manipulation.
Moving on.
I MAINTAIN THAT THIS ENTIRE ECONOMIC COLLAPSE HAS BEEN ENGINEERED, AND ALSO THAT IT HAS BEEN ANTICIPATED FOR YEARS BEFORE THE ACTUAL COLLAPSE WAS ENGINEERED ON JULY 13TH 2008. THE CURRENT CLAIMS BY THOSE WITH OVERSIGHT RESPONSIBILITY ARE BLATANT LIES, AND THAT ALSO COVERS THE MAJORITY OF THE INTERNATIONAL BODY POLITIC.
The evidence is set out. The story is long.
The anticipation part was the Knowledge of Alan Greenspan relating to Austrian/Mises school of Economics in his earlier speeches, linked to in earlier parts, above, and in his relations with Ayn Rand. His change of character, of economic principles was/is startlingly different after his appointment to the Federal Reserve Board, and maybe it was his appointment to the board of J P Morgan before the Fed that initiated the change. There were remnants of an economist remaining while he was Fed Governor, as evidenced by his “irrational exuberance” speech, which remained until after his subsequent meeting with Rubin. Even prior to his “irrational exuberance” speech, I recall many articles in the UK press relating to worries about an over-valued US equities market, and negligible savings levels of US consumers, and the Balance of Trade Deficit levels, so, not withstanding fudged economic statistics, European/UK economists were expressing concern even in those early days. Since then the situation on both sides of the Atlantic has become increasingly abherrent, yet voices remained silent, in the full knowledge of the consequences. THAT is a conspiracy, a deliberate attempt to hide the truth.
But there is more. I also base my views on historical precedent.
“Confessions of an Economic Hit Man”, written by John Perkins, and first published in 2004 is an easy read, (and very cheap on Amazon).
Briefly, it is the story of how Perkins was recruited by the NSA, profiled as an economic hit man, EHM, and lived for a period with the Peace Corps in Ecuadorian Amazon. He witnesses many Western abuses, and meets the Vice President of international consulting firm Main, who is also an NSA “liaison” officer.
He is recruited, joins Main, and is trained as an EHM in Boston. His first assignment was in Java, Indonesia, where his job was to falsify economic reports, such that large financial loans for infrastructure would create wildly optimistic returns, and rapid pay back periods, and benefit the local and national economy. (Naturally the loans would be from Wall Street Banks, and the infrastructure would be built by US companies When the loans came from the IMF, they were always sourced from Wall Street, and there is always a massive payment to whoever is the political leader at the time). Over time, the loans prove to be far too vast, the infrastructure inadequate, and repayments unpayable, and the country, the currency, (the loan is ALWAYS repayable in US dollars) and economy collapses, and the collapse is always triggered by a Wall Street engineered capital flight just to “enhance “ matters. Asset prices collapse to a small percentage of their recent price, and Wall Street, and others can move in and buy at cents on the dollar!
His story progresses through Panama, deals with massive civil engineering projects around the Canal, Panamanian discussions with Japan, which were anathema to the US, and the subsequent US invasion, on to Saudi Arabia, and billions spent there, to Africa, Asia, Latin America, the Middle East. He was in Iran during the Shah's reign and subsequent revolutions, has detailed dealing in Columbia and has knowledge of the Noriego fiasco. He tells the reasons for Ecuador's president, Jaime Roldos, and Panama's president, Omar Torrijos, deaths in separate fiery airplane crashes that have all the hall marks of CIA assassinations, and has a series of personal crises of confidence, realising the extent of corruption and misery the loans and indebtedness are creating in collapsing countries, where significant portions of the population a suffering varying degrees of starvation. He makes the point strongly that the model of finance, contracting, failure of country, currency, return and buyout, is always the same. His realisation of the corruptness of his own country's brutality and imperialism, comes as a shock to him, and causes many personal problems.
The book ends on a bright note. The point I am drawing attention to is that ten years later, this same plan was also used in South East Asia, by the same characters. (But not Perkins)
And on a totally global scale, with only slight modifications, this is the plan I see now, being developed by international bankers and their massive, incomprehensible from an economic point of view, bailouts by culpable, manipulated politicians, bought and paid for, on the backs of a soon-to-be-penniless-tax-payer, and the possibility of buy-backs at bargain basement prices, after the collapse of local currencies, using hoarded bail-out funds, geared up massively. The coincidences, and similarities are frightening.
I WILL SHORTLY SHOW THAT THE STRUCTURE OF THE FEDERAL RESERVE SYSTEM, INDEED ANY INDEPENDENT CENTRAL BANKING SYSTEM, IS SPECIFICALLY CREATED TO THROW LOSES ONTO THE SHOULDERS OF THE TAXPAYER, WHILE PRIVATISING THE GAINS.
Any conspiracy needs a focal point, a forum for developing views, for members to meet, a publicity machine to put views forward, to bend opinion. One which can hide true intentions under a welter of propaganda and illusionary good works, one so obvious, so famous that the incredulity of the public would negate any unintentional mistake.
Can we find such a body?
Well, yes we can.
Google any of the senior names from the Clinton,
The Bush, or the Obama administration against the “Council on Foreign Relations”, CFR, and you will find that they are ALL members. This is their forum, their ideas institute, their club house.
Using Google you will find that the Rockefeller dynasty founded the CFR, and was also responsible for founding the Trilateral Commission.
Using Google you will find that the Rockefeller dynasty has an abiding interest in Eugenics and is on record as believing, and working towards a global population holding a maximum of 1 billion, under a New World Order.
You can use Google to find an overlap in names between the two organisations.
The Rockefeller dynasty is heavily invested in Monsanto and Syngenta, two of the major companies involved in the genetic modification of foodstuffs, and Rockefeller more than any other is responsible for the growth of “Agribusiness” that displaced traditional farming structures with monolithic structures that aid in the global penetration of GM foodstuffs.
Strange then, that Rockefeller should be one of the major investors in a grain store on an island in the Arctic circle, together with Monsanto, Syngenta, Bill Gates, and the Govt of Norway that will store grains for the future that companies like Monsanto and Syngenta are seeking to eliminate.
Just what do these people know about the planned future that would require such an investment?
Well, that link is over a year old, and now WE HAVE THE ANSWER. Organic farming is to be made illegal, and the bill is sponsored by agri-business giants Monsanto, Cargill, etc.
To summarise, Agri-business wants to make illegal the very seeds that Rockefeller, et al, are preserving in their Arctic Circle Vault. At some point when Syngenta death seeds have damn near wiped out agriculture, the Rockefellers will ration their seeds, which will by then be legal again, at a price, to a much diminished world population.
We also see this in the EU, where the degree of mono-culture is becoming extremely dangerous.
Take a moment or two to consider the implications of that, and remember Kissingers (CFR) statement, “Those that control the food supply, control the country”, but remember, it is the World that is the target, here, and world supplies of grain, in terms of “days of reserves”, have never been smaller.
For many years the Rockefeller publicity machine has worked to remove the tarnish from the image.
I GIVE YOU THESE FACTS TO ILLUSTRATE THE AMBITIONS, AGENDA AND PHILOSOPHY OF THE MEMBERS OF THE CFR, WHICH IS THE FOCAL POINT, THE TALKING SHOP, OF THE VERY SAME ACTORS BEHIND THE CURRENT FRANTIC EFFORTS, THE THEFT OF £/$ BILLIONS FROM FUTURE TAX PAYERS, TO SUSTAIN THEIR FAILED ECONOMIC MODEL, THEIR FAILING POWER BASE, THE EXISTING GLOBAL FIAT SYSTEM.
IT IS MY BELIEF THAT THE INTENTION IS TO TRANSPOSE THIS SYSTEM TO A GLOBAL PLATFORM, ADMINISTERED BY THE IMF, AND THE BIS, ALSO WITH A SIGNIFICANT NUMBER OF THE CURRENT MAJOR PERSONALITIES JOINING THOSE BODIES.
Remember there are no lengths to which they will not go in their quest for power. I had thought that evidence, solid evidence that came to light immediately after the incident, would result in a satisfactory conclusion to the search for the perpetrators, Sadly, this evidence seems to be ignored, as do so many other details. Would that be because the persons involved were so very obviously wealthy? Or were members of an elite organisation? And if the suspicions are true, consider the arrogance of the people placing these investments, - they consider themselves totally above the law.
Aaron Russo was a very famous Hollywood producer. (RIP, Aaron) He was be-friended by the Rockefeller dynasty, who tried to persuade him to join the Council on Foreign Relations. Part of the persuasion involved an explanation of how omnipotent members of the CFR were. He predicted to Aaron that 9/11 would happen, and also explained the upcoming plans to micro-chip the population, and the relevant data-bases that would be involved (with CFR members being not chipped! All testimony was on youtube.
"The powers of financial capitalism had a far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a FEUDALISTIC FASHION BY THE CENTRAL BANKS OF THE WORLD acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank...sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world."
Quote by: Carroll Quigley (1910-1977) Professor of History at Georgetown University, member of the Council on Foreign Relations (CFR), mentor to Bill Clinton
Source: in his book Tragedy and Hope, 1966
(So now you know why one of Browns first acts was to make the B of E independent. It was/is a requirement of the proposed structure of the New World Order upcoming!)
"... we conclude that the [Federal] Reserve Banks are not federal ... but are independent privately owned and locally controlled corporations... without day to day direction from the federal government."
Quote by: 9th Circuit Court : Source: Lewis vs United States, June 24, 1982
"The Trilateral Commission is international...(and)...is intended to be the vehicle for multinational consolidation of the commercial and banking interests by seizing control of the political government of the United States. The Trilateral Commission represents a skilful, coordinated effort to seize control and consolidate the four centres of power - political, monetary, intellectual, and ecclesiastical." Quote by: Barry Goldwater (1909-1998) US Senator (R-Arizona)
Source: in his book "With No Apologies"
"We have stricken the shackles from 4,000,000 human beings and brought all labourers to a common level, but not so much by the elevation of former slaves as by reducing the whole working population, white and black, to a condition of serfdom. While boasting of our noble deeds, we are careful to conceal the ugly fact that by our iniquitous money system we have manipulated a system of oppression which, though more refined, is no less cruel than the old system of chattel slavery."
Quote by: Horace Greeley (1811-1872)
Editor of the New York Tribune, ran against Ulysses Grant for presidency Date: 1872
"The real truth of the matter is, as you and I know, that a financial element in the large centres has owned the government of the U.S. since the days of Andrew Jackson. History depicts Andrew Jackson as the last truly honourable and incorruptible American president."
Quote by: Franklin D. Roosevelt (1882-1945), 32nd US President Date: November 21, 1933
"I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit.
Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely
controlled and dominated governments in the civilized world. No longer a government by free opinion, no longer a government by conviction and the vote of the majority, but a government by
the opinion and duress of a small group of dominant men."
by: Woodrow Wilson (1856-1924) 28th US President Date: 1916
And this should …...., well, just see!
I make no apology for mentioning DeepCapture, again.
THIS IS A 3MB PDF WHICH EXPLAINS AT LENGTH HOW THE FINANCIAL EMPIRE HAS SUBVERTED THE GOVERNMENT OF THE US, AND BY IMPLICATION, GIVEN EVENTS CURRENT IN THE UK, THAT COUNTRY TOO.
Returning to Aaron Russo, here is an extremely revealing video, concerning the Rockefellers, 9/11, and RFID chips. Astounding in its implications, that are now being witnessed, as they play out, in the UK and the US. Plainly put, Brown and his corrupt cronies have sold out the British Nation, as did that filthy liar, Blair (now in the employ of J P Morgan) before him. Listen carefully!
Several US Presidents have warned on national television of the danger posed to the nation by the CFR, and the Trilateral Commission, and specifically the Banking Cartel, and the Military/Industrial Complex.
Here is rare footage of President Eisenhower, in 1961.
President Kennedy was also involved in warning the nation.
Was this the true reason for his demise? He would not be the first US President to be murdered following warnings about the Banking Cartel!
As Deep Capture progressed through the years, another character arose. Leo Strauss was a political philosopher who had a shaping influence on the Bush administration evolution.
And here, the destruction of the middle class, - remarkable similarities with the UK, although the UK would lag the US by c.8 years.
However, the culture of lies was never restricted to the US. Brown in the UK is a liar too.
Time now to return to 9/11. First this link, already shown previously.
Significantly, prior to 9/11, J P Morgan had sold $2.2 Trillion Treasury Bonds in excess of authorisation by the US Treasury. Those records were in building No 3 of the World Trade Centre. Naturally they were destroyed during 9/11.
This is interesting.
And a few extras.
And here.
And here.
Remember, this was predicted by Nick Rockefeller when trying to persuade Aaron to join the CFR.
Sickening! And we think these people are human?
Enough on the character of these people, you should understand the problem by now, and the names. Google is a very powerful tool. Use it.
The point is that the US CFR is now linked into Europe at a very high level, via The European Council of Foreign Relations, with a very powerful membership, including Etienne Davignon, No 20, the Head of the European Bilderberg Organisation, no less, and George Soros, No 99, and Dominique Strauss-Kahn, director IMF., No 100. This is a terrifying development. Read and weep!
Many things hinge on the upcoming G20 on April. Hopes may be high. My expectations are rock-bottom! Behind the scenes, blocks will do their own thing, the disparity of interests is too great.
Dumb and Dumber organise a “Con the Sheeple Extravaganza”. Or, this could be really serious behind the scenes, their common approach to the G20, which would definitely be very bad news.
Putin clearly has ideas of his own. Here is a PDF of his recent speech at Davos. http://www.weforum.org/pdf/AM_2009/OpeningAddress_VladimirPutin.pdf
I do have a copy of Wens speech at Davos, but it is extracted from various Chinese blogs, and the translation is not good. It concentrated mainly on Chinese efforts to keep their economy motoring along, with very little political comment.
However, Chinese mercantilism has blossomed since then with many “deals” to make their Yuan currency acceptable internationally, and many global commodity supply deals. Both types of deals are coming amazingly rapidly. Since then, it is obvious that the “Shang-Magans” have returned, with the “Shan Chu”, head of the “Council of Compradors”, and the “Compradors” themselves, perhaps more electronic this time around, oiling the wheels. At least there is more honesty in this method, rather than the current US fraud and manipulation, in EVERY area of economic/financial life, many times detrimental to other nations, or producing countries.
And the above link explains the recent $300M Chinese investment in UK listed European Nickel.
Financially, the question of China continuing to purchase US T-bills is important. They have ceased the purchase of agency debt, that falling to the Fed. I doubt their continuance of T Bill purchases following their placement of existing significant holdings into other asset classes which is proceeding rapidly. Cessation of T Bill purchases will enhance their own ambitions for Yuan hegemony, via downward pressure on the dollar.
The problem here is the recent visit by H Clinton to China, and her discussion topics. She is CFR first, and I doubt totally her integrity. Will the Chinese also carry that doubt?
The Gulf States have been considering their own currency, backed by Gold, and possibly Oil, for almost a decade. Up until recently the US military umbrella restrained them from this action, but now?....
I do not think oil is suitable for a Gulf State currency, as each country has differing exhaustion rates for their oil fields, - it will probably be gold, and Saudi is busily buying.
I have included the following link, both because it illustrates the current theme, - alternatives to US $ as a Global Reserve Currency, and thus the decline of US hegemony, but also it illustrates most vividly a point made earlier in relation to the US Bank orchestrated collapse of Global commodity Prices, and every other price, on July 13th 2008, and the onset of the current cascade, in order to regain failing $ supremacy.
I seriously doubt the long term future of the $ as a Global Reserve Currency. I seriously doubt the ability of any other contender to replace the $.
A basket is the only alternative. The US and UK will push for a continuation of the current status, with both Brown and Obama grandstanding. This will be unacceptable to ALL other nations.
Iran has stated that it will supply Oil to Japan in Yen, and China in Yuan. Venezuela has matched that.
China will go for Gold Backing, probably with the Yuan dominant in a basket of S E Asian currencies
China wants the Yuan to be a Global currency
Russia will go for Gold too!
The £ will not figure anywhere!
The IMF recently published this PDF. Reading it one would wonder what planet these people inhabit. If this is the limit of their intellectual comprehension of........ What hope is there? These people want to run the next round of Fiat crap. - - OMG.
Well, read it for yourself.
And the Press Briefing for its release is here.
But, Hey, I'll let Elaine take up the story.
WOW. Read and Weep, all over again.
But hey, Elaine, you are a good blogger, you don't have to change facts to make your point, - Greenspan reduced interest rates to 1% during the Tech Crash of 2000/3, not 3% as your graph shows, and the Yen Carry trade stalled, but resumed later when interest rates were raised again.
The Japanese found a way to keep interest rates low while carrying a massive trade surplus, - give Yen away globally at almost zero interest, but mainly to foreign borrowers. This kept the Yen value low to keep exports flowing, thus decimating the western industrial base.
China did the same by printing Yuan for internal use, to the value of their US trade receipts, and used the dollar earned to buy T-Bills, in turn helping depress western interest rates and keeping the dollar strong(er). (Small wonder Wen was pissed with Geithner ((Group of Thirty)) when he accused the Chinese of currency manipulation, the T-Bill purchases have maintained dollar strength and hegemony and allowed the continuance of inflation avoidance in the US via cheap imports and low interest rates. The US was complicit, even dependant, on the arrangement.)(H Clinton probably visited Wen to beg for the continuance of this arrangement once the dust has settled!)
The West was fully cognisant, and complicit in these arrangements, convincing their electorates through spurious financial/economic arguments that off-shoring was “good”. The west moved to a “financial services paper pushing, economic fact manipulating regime”, that could only maintain voter approval by constant bubble blowing, interest rate manipulation via Gold and interest rate swaps, complete shadow banking systems and derivatives that dwarfed the real world, incessant increases in personal and corporate debt levels via international agreements on leverage levels and asset quality ratios. Eventually the Yen carry trade, via London, into the Caribbean Hedge funds, and the leveraging of the hedge funds back through London and NY Banks managed to create so much international “money supply” growth (debt), so much pressure on commodities prices , benefiting commodity exporting nations, that the Wall Street financed Administration realized that the Dollar hegemony was under threat, and inflation caused by the massive leveraging of the Yen Carry trade, not to mention their own leveraging was creating inflationary problems in their home market. The engineered collapse of summer 2008 was triggered on July 13th 2008 by pre-arranged margin calls on over leveraged borrowers. (The Georgia poke in the eye helped western capital flight out of Russia, - sod the population problems, - collateral damage! Putin interpreted it wrongly and responded militarily. Add in the Gold debacle, and now he's really pissed!)
THAT WAS THE CULMINATION OF THE PLAN, PRESCRIBED DECADES EARLIER, PRACTICED EARLIER IN THE SAVINGS AND LOAN CRISIS IN THE US, INTERNATIONALLY IN INDIVIDUAL COUNTRIES BY ECOMONIC HIT MEN RECRIUTED BY NSA.
NOW IT IS BEING APPLIED GLOBALLY!!
The evidence is contained in this document.
Which unfortunately, or maybe fortunately, is not available on-line.
It was written in 1994 by a Nobel prize-winning economist from Berkeley (George A. Akerlof) and a Stanford economist (Paul M. Romer). The plan was entitled, Looting: The Economic Underworld of Bankruptcy for Profit. A better title might have been, Looting the Treasury For Dummies. It was commissioned by the National Bureau of Economic Research (NBER), the agency which dates recessions. By following this government-supported agency's script, organized crime was able to transfer trillions of dollars in taxpayer money into their own hands, leaving the entire planet reeling and its economy in shambles. It's the greatest robbery in human history. And shortly it will become genocide on a massive scale.
The nature of the political selection process does not recruit natural leaders, good businessmen, natural visionaries, or capable administrators, but as a consequence of itself promotes con-men, liars, incompetent manipulators, who will ultimately only seek personal aggrandisement. They will promise anything to maintain power, to the extent of bankrupting the country of birth. They cannot envisage real change, but a slow evolution of the current status quo.
This status quo now involves subsidising the incompetent at the expense of the competent, rewarding failure at the expense of success, maintaining a failing Fiat System and global trading patterns in the face of all evidence that they have failed, and landed extreme hardships on the populations
The slow evolution of the status quo thus involves the expansion of this current failing system into a truly global model, administered by the self same power base that presided over the engineered failure of the existing system, tightly controlled ultimately by the BIS and the IMF.
This is the key to Browns sell out of the UK Brown, and Blair before him, and Cameron and Clegg, are Bilderbergers. Brown/Blair gave the signal when they sold UK gold to support the US bail-out. They were party to 9/11 lies and invasions costing the lives of millions, and the cover up of the Dr Kelly murder.
All the economic analysis, all public statements from major politicians and the G20, must now be interpreted in this light.
Back to economics for a while.
The UK will face stagflation and low growth for maybe 15/20 years, with the distinct possibility of a period of hyper-inflation during which the currency will fall rapidly. Absent hyper-inflation, the £ will fall, first to parity with the $, (the £ is falling heavily as I write this!) then as the $ falls, the future of the £ looks murky, not clearly predictable, but not good.
Today we learn that UK industrial output for Jan 2009 fell 2.6%, taking the annual rate of decline to 11.4%.
I have a message for you, Brown, if you can be bothered to listen.
Industrial output is swirling around the hole in the middle, and the financial services sector is taking repeated canon ball hits to the testicles. On the 9th March 2009, I watched sterling decline 2.8% ish against the $, because of your quantitative easing, which means every import denominated in $ is now 2.8% ish more expensive IN ONE DAY. You are forecasting an annual GDP decline in 2009 of 2.5% ish, and conning the public via the MSM, which you control, that inflation will go to zero.
When are you going to change your medication and undergo a reality check with the numbnuts economists and “yes” men advising you?
It does seem strange that everyone BUT you can speak the truth!
Your repeated financial theft from the countries future viability, aimed at reassuring the World that the UK remains a place friendly to Global Finance is totally misplaced (we know that is not the real reason). Global Finance is leaving, en mass, heading for S E Asia. What the UK needs is a viable manufacturing base, and what it doesn't need is a Mandelson (Bilderberger) being the arbiter of its future, a method that reeks of moral hazard, with its administrator having already proven himself to be susceptible to such hazards. The Finance Industry is mortally wounded in the UK almost finished. China is investing in mines, steel mills, a huge manufacturing base, infrastructure, strategic minerals that you haven't even heard of, and trade alliances all around the Globe. You are investing the countries future, because you've stolen its todays, in bankrupt fraudulent banks and their gold plated pension schemes, stupid malfunctioning data bases, an ever greater functionally illiterate bureaucracy, and other unthinkably stupid schemes, and all for treasonable reasons. Who do you think will win, and where will that leave this country??
Oh I know that this country means nothing to you, other than a grandstanding base. You will sacrifice the taxpayer, and his children, and his grand children in order to ensure your personal power. You are an insult to the human race, a disgusting excuse for a rodent.
In my considered opinion, you have tied yourself to what you see as the global elite, that's your team. You are dedicated to maintaining a failed Fiat system because that is their power base, and to do this you are determined to sacrifice 60+ million people to a standard of living last experienced in the 1910 – 20s.
You were elected to serve this country's population, not yourself, and certainly not an illusive, exclusive, club of conniving, warmongering financiers, and the men behind the curtains who pull their strings, several of whom have mansions and estates in this country. Your co-conspirators are walking dead from practices illegal under their charter, as are the UK versions. Bury them, without ceremony. The term is “Bankruptcy Proceedings” under existing laws, which they, and YOU, have blatantly flouted. And YOU have encouraged them to flout the laws. But it is apparently quite common practice.
What you did with the Lisbon treaty was treasonous, and what you are NOW doing is also treasonous.
Since I know you have a large attention span because you must have studied the Lisbon Treaty in minute detail to know that it did not represent a copy of the one that went before, and since you could faithfully recommend it to parliament, but sign it in relative secrecy, this current discourse should be light reading for you. So read it. You will find many of the Fiat fraudulent manipulations exposed, and that, by a team of INTERNATIONAL BLOGGERS, and careful reading and piecing together of facts. I accept some have been missed, but I would be prepared to wager that there are many that you were unaware of.
Your goose is cooked, you are exposed as a manipulative grandstanding failure.
“When you see that trading is done, not by consent, but by compulsion — when you see that in order to produce, you need to obtain permission from men who produce nothing – when you see money flowing to those who deal, not in goods, but in favours – when you see that men get richer by graft and pull than by work, and your laws don’t protect you against them, but protect them against you – when you see corruption being rewarded and honesty becoming a self-sacrifice – you may know that your society is doomed.”
–Ayn Rand, Atlas Shrugged (1957)
The national awareness of your complicity and duplicity and treason is growing steadily. Those that are aware are increasingly angry.
Are you ready for the consequences?
Requests for global banking system/supervision? Just more and more Porkies. One day, perhaps, an interviewer with stones will ask you to cite the occasions of your repeated calls.
BUT, we understand that this is your message to the major conspirators. “Please recruit me, I am one of you!”
You look as if you don't know what you are talking about, so Gordon, - - S.T.F.U.
End of message,
Sigh!
To continue :-
The UK standard of living will fall precipitously as global energy costs rise as the world economy regains momentum. (We already pay£1.6B p.a. as a carbon tax to the EU, hidden in UK electricity bills.) Hayek predicted a return to serfdom, or feudalism, from the position this nation will find itself in. Post Democratic High Tech Feudalism. Congratulations to nulab/ECFR. Welcome BIS and IMF, and UN, and WHO, and - gawd knows, all the attendant crap.
Note that Mervyn King is a member of the Group of Thirty. Do we really think that he failed to anticipate the current problems as he says?? Asleep at the wheel?
They've been publishing papers about Financial Reform, Regulation, Oversight, etc, for quite some time now, in fact Financial Reform, and Oversight, mostly Global, it is one of their main objectives.
Here.
Here.
And look at page 6 for a star studded role call. - AIG, (snicker) A company that deliberately avoided oversight and issued CDS paper without any reserve backing. Fox Guarding chickens? And J P Morgan, and G Sachs, both well known to be the instigators of derivatives of all types, and stratospheric leverage levels via pressure on legislators. Yup, a good working group for banking oversight and supervision!
And Blair? Yeh, him, he pressured the FSA.
Either way, Brown was Chancellor, and you, Merv, were B of E.
(Oh, and by the way, Merv, I note that you are also a Bilderberg attendee! Just thought I would mention it! Did you enjoy meeting Bernanke (CFR) at the Bilderberg 2008 bash in Chantilly, Virginia )
Sorry Merv, your excuses about failing to anticipate this economic catastrophe just don't wash. You lied when you said you couldn't have seen it coming, you are just as complicit as Brown and Blair. You are a trained and experienced professional. You are also part of the group planning for Global banking, ….... planning for the New World Order!
So Brown, and Merv, since you have now commenced quantitative easing, which means buying our own Guilts, I wonder what we, or YOU, are going to do when we have to SELL them, what will the interest rate be, Merv? 10%, or 15%., or 25%? You will probably need that to attract investors who would naturally worry about currency devaluation. But Merv, won't that crash an already collapsed economy. That's right Merv, and you Brown, you're both clueless! What is the exit strategy?
I thought I would draw your attention to this article concerning Germany in 1919/1924. Yes, I know you and Brown are a pair of smart arses, and don't like taking advice from anyone not a brown-nose of your team, but, in your interest in avoiding the ignominity that history will remember you as guilty of, I thought you may be interested.
Interesting comments, there. Seems that towards the end, it wasn't so much the quantity of money, or the rate of growth of M3, or whatever, but the velocity of money, that mattered. And that's a confidence issue, Merv, a confidence issue! Which I suppose makes it damn near unstoppable once it gains momentum, because as the currency dives, so does confidence. And I do note that confidence in Brown & You stinks right now, so how's it going to stink in say 6, or 12, or 24, months. And now I notice the IMF is going to get it's wheels oiled. Where's that coming from Merv, or Brown? Or anyone care to answer?
But all that plays into the EU plan. The UK spirit is a bit too adventurous for the EU politburo. The UK must be totally broken, mustn't it, socially structurally, and economically
Oh well.
Now, Merv, as to your silence in rectifying the blunders of Brown, Mandy and their cronies, (Coincidently, both Brown, and Mandy are Bilderberg members like you!) since you are part of the New World Team, I assume that, as with Volker, (and I note a new aggressive tone to your communications with said cronies) you probably won't act until Geithner et al have ruined the US, and Brown et al have ruined the UK. You'll be seen as the saviour, - they'll both be gone soon, then you make your move. But what will be your move, I wonder?
So, let's look at Volker, a CFR member. The alleged superstar who conquered inflation in the 1980s, in the US. But who created the inflation? Was it the Federal Reserve creating too much credit (debt) bank lending? Yup, that's right.
One of the biggest bank failures of that time, (and a dress rehearsal for the current theft of taxpayers money) and there were many, was the Continental Illinois, of Chicago. It went down in history as the first electronic bank run. How did it get into trouble? Crazy lending policies, like now. The FDIC was unable to cover all deposits, and many were over the limit anyway ($100,000), so after a lot of corrupt dealing which I won't cover in detail, the US government and the Fed had to get involved, just like now, which means ultimately the US taxpayer! Paul Volker was Fed Chairman at the time. He explained the fleecing of the taxpayer to the Senate Banking Committee, “The operation is the most basic function of the Federal Reserve. It was why it was founded”
That statement confirmed the entire conspiracy of the meeting on Jekyll Island and the setting up of the Operating Methods of the Federal Reserve. The system was DESIGNED to insulate bankers from losses by placing the losses on the taxpayers, via the Fed, via increased taxation to pay down the “national debt”, and via inflation, (the dirty little secret), while keeping profits in the hands of the bankers. Exactly what is happening now, on a truly global scale!.
Where large banks know that ultimately the taxpayer will backstop their aggressive lending practices, there is little incentive to be prudent. Leverage is taken to the limit, as is the credibility of the borrowers. Bonuses become massive, the exit plan created. Bingo. Bailout. Too big to fail.
(The centralised banking system that is the Federal System, was forced upon the US by agents of the Bank of England. Those BofE agents worked behind the scenes for decades to create the Fed system. This type of system now infests 170 + central banks globally. The debt driven economies feed the monstrous appetite, the parasitic appetite, of the original founders of this fraudulent system. One has to ask, when is enough, enough? All Fiat systems throughout history have failed, because of the greed of the operators.)
Volker now runs the Group of Thirty, whose membership includes the Global banks worst offenders, and you are a member, Merv, therefore you cannot expect us to believe that anything that you thieves propose will be beneficial to the general populace. Your proposals will favour the banks, and the already wealthy. The mechanics of the system are designed to this end.
And Volker is also Chair of Obama's efforts to ruin the economy of the US.
Precisely why are you on the Group of thirty, Merv? To learn new ways to destroy the middle classes of the UK? In the upcoming link, from Jesse, your buddies on the Group of Thirty are shown for what they are! You have oversight in the UK. Are you blind?
(Oh, by the way Merv, did you know that Central Banks were net purchasers of Gold in Jan 2009? And they weren't western banks, either! Notably France was a net seller! - - You didn't? You mean your mate Rothschild surrogate at the LBMA didn't give you the hint? My oh My, maybe he's pissed with you for damn near ruining his party!)
Create a problem. - Problem creates panic. - Present a solution, your solution. - Sheeple go for it!
With time, the rats get flushed out of the rat holes, and the evidence of corruption and theft of tax payers future standards of living becomes apparent.
It is the system.
And the banking whore houses have spent well on the politicians.
Rather than give the direct link to the article, here is the link to the erudite Jesse, complete with his comments.
Read and enjoy.
So Merv, and Brown, in the interests of public record, and public knowledge, since the public will be the ones to suffer financially from your failure of professionalism and oversight, and your corruption, when does the UK public get to hear who are the recipients of all the wealth you have stolen from them and poured into banks with international debts? And if any of those debts relate to derivatives, of whatever nature, that those regulated banks dealt in unregulated OTC markets or dark pools, why are you making good their debts on the backs of the taxpayer, rather than declaring them null and void, and therefore unenforceable and valueless. Why are you condoning fraud in regulated bodies? Why are you not upholding the law and prosecuting the banking officials? In English law an illegal contract is null and void, unenforcible, it has no value. Why are you valuing it for purposes of stealing from the UK taxpayer?
And for AIG, it had/has a London branch which was/is presumably covered by UK law relating to insurance and the maintenance of adequate capital to cover statistical risks. AIG obviously wrote copious amounts of Credit Default Swap contracts. These are Insurance policies in all but name, despite the fact that some may not have any “insurable interest”, that deliberately avoid regulatory oversight. AIG knew what they were doing writing these contracts, as did the counter parties. AIG deliberately sought to avoid regulatory oversight because the absence of balance sheet assets made them more profitable. Why are the relevant authorities with insurance company oversight not upholding the law and prosecuting the AIG officials. In English Law these contracts are illegal and are null and void, unenforcible, valueless. Why are the Insurance industry valuing these contracts for purposes of stealing from the UK taxpayer? And why are you upholding that valuation and stealing from the UK taxpayer to make good counterparties?
And then the G20 says”hello rats, would you like more food. Sod the taxpayer and his future, we'll let the central bank create the money from nothing, debase the currency, increase taxes in perpetuity, just so the international banks can keep bribing us, and give us nice little jobs when we retire the political life. Just wait 'till the New World Order of the IMF, and the BIS gets underway, we've got it made”
OMG.
However, on the other hand, if you are in a position to invest......
Don Coxe is a Chicago economist/investment adviser, sometimes in the past overly optimistic, who runs a weekly conference call.
In his latest call, he makes reference to Gold, to western central bank sales, and of the significant global movement towards government run economies which will result in increased overheads caused by malinvestments resulting from political dogma, slower growth and higher unemployment. The entire presentation runs for one hour, including the questions and answers at the end. It is ALL worth listening to.
That movement towards politician controlled economies has been progressing below the radar screens for several decades, and will lead to a movement, politically and structurally, towards the 3 to 5 year endgame for national sovereignty vs global control.
Meanwhile,
This is where we are now.
And there is far, far less gold in reserve than paddles, they've leased it away! They know it. The World knows it. I know it!
It is in foreign hands, private and public.
The rest of the World regards them as Morons. The fraudulent Fiat experiment is a failure, it is dying. Version 2 is around the corner!
And this is where we are going. All of us.
And here.
And here.
Welcome to the New World Order.
Today, Brown says his piece, but insists that now is the time for the left to intervene, as “free markets” have failed.
Brown you are a bare faced liar. The “markets” have never been free, the machinery behind them won't allow it. YOU won't allow it.They have failed, if they have failed, because of too much intervention.
Intervention that you, Brown were party to, and still are.
I also notice that most major politicians are all seeking to distance themselves from responsibility for the coming carnage.
Filthy rodents, bought for a penny.
Refreshment Break. I need it!
Watch
Watch
Watch.
Part 6 of this series can be read here.
It says 'written by James Higham' below. Actually, it was written by Sonus but I can't reformat the author in my template.
Dates for posting the Sonus articles: March 16th, 18th, 20th, 23rd, 25th and 27th.
Part 4 of this series can be read here.
A conspiracy is defined as :-
A conspiracy theory alleges a coordinated group is, or was, secretly working to commit illegal or wrongful actions, including attempting to hide the existence of the group and its activities. In notable cases these theories contrast what is represented by the mainstream explanation for historical or current events, as well as the evidence that supports it.
In the case of the suppression of the Price of Gold
Yes, there is a coordinated group, consisting of many Central Banks, and certain Bullion Banks. Yes they are working in secret, - at the LBMA, as that organisation is “secret”, not open to the public. Yes, their actions are illegal in the strict sense, since the suppression (which was intervention in a “free”market) also led to the suppression of interest rates, (further intervention in a “free” market), and as the system further depreciated it created the need to hide, by cancelling the publication of, the growth of M3 money supply. Additionally, increasing “hedonics” were used to confuse accurate measurement of the GDP, (the calculation being made more difficult by the suppressed inflation rates). Towards the end, any statistics published either in the US or the UK relating to these indices were regarded with deep suspicion by economists, who increasingly constructed their own models, thereby fulfilling the last criterior in the definition above, namely the contrast with mainstream explanations of the events, which in the main were banal, and based on the visible, published statistics, there by rendering the MSM explanations inaccurate. For instance, how many times, in articles relating to Gold, do the parties treat Gold as a commodity when trying to predict its price moves?
But that was only a small part of the conspiracy as we shall see.
Let us proceed.
Tracking the conspiracy in the suppression of the Gold price across the Atlantic is difficult.
Beyond the fact that the members of the LBMA are global operators, and the fact that there are large European Banks on the membership list of the LBMA, the LBMA of itself is totally opaque, a private “club” where price setting is not publicly visible. More bullion sales and bullion leasing is conducted through the LBMA than any other market. This is not a “free” market, any more than COMEX is free from manipulation.
Moving on.
I MAINTAIN THAT THIS ENTIRE ECONOMIC COLLAPSE HAS BEEN ENGINEERED, AND ALSO THAT IT HAS BEEN ANTICIPATED FOR YEARS BEFORE THE ACTUAL COLLAPSE WAS ENGINEERED ON JULY 13TH 2008. THE CURRENT CLAIMS BY THOSE WITH OVERSIGHT RESPONSIBILITY ARE BLATANT LIES, AND THAT ALSO COVERS THE MAJORITY OF THE INTERNATIONAL BODY POLITIC.
The evidence is set out. The story is long.
The anticipation part was the Knowledge of Alan Greenspan relating to Austrian/Mises school of Economics in his earlier speeches, linked to in earlier parts, above, and in his relations with Ayn Rand. His change of character, of economic principles was/is startlingly different after his appointment to the Federal Reserve Board, and maybe it was his appointment to the board of J P Morgan before the Fed that initiated the change. There were remnants of an economist remaining while he was Fed Governor, as evidenced by his “irrational exuberance” speech, which remained until after his subsequent meeting with Rubin. Even prior to his “irrational exuberance” speech, I recall many articles in the UK press relating to worries about an over-valued US equities market, and negligible savings levels of US consumers, and the Balance of Trade Deficit levels, so, not withstanding fudged economic statistics, European/UK economists were expressing concern even in those early days. Since then the situation on both sides of the Atlantic has become increasingly abherrent, yet voices remained silent, in the full knowledge of the consequences. THAT is a conspiracy, a deliberate attempt to hide the truth.
But there is more. I also base my views on historical precedent.
“Confessions of an Economic Hit Man”, written by John Perkins, and first published in 2004 is an easy read, (and very cheap on Amazon).
Briefly, it is the story of how Perkins was recruited by the NSA, profiled as an economic hit man, EHM, and lived for a period with the Peace Corps in Ecuadorian Amazon. He witnesses many Western abuses, and meets the Vice President of international consulting firm Main, who is also an NSA “liaison” officer.
He is recruited, joins Main, and is trained as an EHM in Boston. His first assignment was in Java, Indonesia, where his job was to falsify economic reports, such that large financial loans for infrastructure would create wildly optimistic returns, and rapid pay back periods, and benefit the local and national economy. (Naturally the loans would be from Wall Street Banks, and the infrastructure would be built by US companies When the loans came from the IMF, they were always sourced from Wall Street, and there is always a massive payment to whoever is the political leader at the time). Over time, the loans prove to be far too vast, the infrastructure inadequate, and repayments unpayable, and the country, the currency, (the loan is ALWAYS repayable in US dollars) and economy collapses, and the collapse is always triggered by a Wall Street engineered capital flight just to “enhance “ matters. Asset prices collapse to a small percentage of their recent price, and Wall Street, and others can move in and buy at cents on the dollar!
His story progresses through Panama, deals with massive civil engineering projects around the Canal, Panamanian discussions with Japan, which were anathema to the US, and the subsequent US invasion, on to Saudi Arabia, and billions spent there, to Africa, Asia, Latin America, the Middle East. He was in Iran during the Shah's reign and subsequent revolutions, has detailed dealing in Columbia and has knowledge of the Noriego fiasco. He tells the reasons for Ecuador's president, Jaime Roldos, and Panama's president, Omar Torrijos, deaths in separate fiery airplane crashes that have all the hall marks of CIA assassinations, and has a series of personal crises of confidence, realising the extent of corruption and misery the loans and indebtedness are creating in collapsing countries, where significant portions of the population a suffering varying degrees of starvation. He makes the point strongly that the model of finance, contracting, failure of country, currency, return and buyout, is always the same. His realisation of the corruptness of his own country's brutality and imperialism, comes as a shock to him, and causes many personal problems.
The book ends on a bright note. The point I am drawing attention to is that ten years later, this same plan was also used in South East Asia, by the same characters. (But not Perkins)
And on a totally global scale, with only slight modifications, this is the plan I see now, being developed by international bankers and their massive, incomprehensible from an economic point of view, bailouts by culpable, manipulated politicians, bought and paid for, on the backs of a soon-to-be-penniless-tax-payer, and the possibility of buy-backs at bargain basement prices, after the collapse of local currencies, using hoarded bail-out funds, geared up massively. The coincidences, and similarities are frightening.
I WILL SHORTLY SHOW THAT THE STRUCTURE OF THE FEDERAL RESERVE SYSTEM, INDEED ANY INDEPENDENT CENTRAL BANKING SYSTEM, IS SPECIFICALLY CREATED TO THROW LOSES ONTO THE SHOULDERS OF THE TAXPAYER, WHILE PRIVATISING THE GAINS.
Any conspiracy needs a focal point, a forum for developing views, for members to meet, a publicity machine to put views forward, to bend opinion. One which can hide true intentions under a welter of propaganda and illusionary good works, one so obvious, so famous that the incredulity of the public would negate any unintentional mistake.
Can we find such a body?
Well, yes we can.
Google any of the senior names from the Clinton,
The Bush, or the Obama administration against the “Council on Foreign Relations”, CFR, and you will find that they are ALL members. This is their forum, their ideas institute, their club house.
Using Google you will find that the Rockefeller dynasty founded the CFR, and was also responsible for founding the Trilateral Commission.
Using Google you will find that the Rockefeller dynasty has an abiding interest in Eugenics and is on record as believing, and working towards a global population holding a maximum of 1 billion, under a New World Order.
You can use Google to find an overlap in names between the two organisations.
The Rockefeller dynasty is heavily invested in Monsanto and Syngenta, two of the major companies involved in the genetic modification of foodstuffs, and Rockefeller more than any other is responsible for the growth of “Agribusiness” that displaced traditional farming structures with monolithic structures that aid in the global penetration of GM foodstuffs.
Strange then, that Rockefeller should be one of the major investors in a grain store on an island in the Arctic circle, together with Monsanto, Syngenta, Bill Gates, and the Govt of Norway that will store grains for the future that companies like Monsanto and Syngenta are seeking to eliminate.
Just what do these people know about the planned future that would require such an investment?
Well, that link is over a year old, and now WE HAVE THE ANSWER. Organic farming is to be made illegal, and the bill is sponsored by agri-business giants Monsanto, Cargill, etc.
To summarise, Agri-business wants to make illegal the very seeds that Rockefeller, et al, are preserving in their Arctic Circle Vault. At some point when Syngenta death seeds have damn near wiped out agriculture, the Rockefellers will ration their seeds, which will by then be legal again, at a price, to a much diminished world population.
We also see this in the EU, where the degree of mono-culture is becoming extremely dangerous.
Take a moment or two to consider the implications of that, and remember Kissingers (CFR) statement, “Those that control the food supply, control the country”, but remember, it is the World that is the target, here, and world supplies of grain, in terms of “days of reserves”, have never been smaller.
For many years the Rockefeller publicity machine has worked to remove the tarnish from the image.
I GIVE YOU THESE FACTS TO ILLUSTRATE THE AMBITIONS, AGENDA AND PHILOSOPHY OF THE MEMBERS OF THE CFR, WHICH IS THE FOCAL POINT, THE TALKING SHOP, OF THE VERY SAME ACTORS BEHIND THE CURRENT FRANTIC EFFORTS, THE THEFT OF £/$ BILLIONS FROM FUTURE TAX PAYERS, TO SUSTAIN THEIR FAILED ECONOMIC MODEL, THEIR FAILING POWER BASE, THE EXISTING GLOBAL FIAT SYSTEM.
IT IS MY BELIEF THAT THE INTENTION IS TO TRANSPOSE THIS SYSTEM TO A GLOBAL PLATFORM, ADMINISTERED BY THE IMF, AND THE BIS, ALSO WITH A SIGNIFICANT NUMBER OF THE CURRENT MAJOR PERSONALITIES JOINING THOSE BODIES.
Remember there are no lengths to which they will not go in their quest for power. I had thought that evidence, solid evidence that came to light immediately after the incident, would result in a satisfactory conclusion to the search for the perpetrators, Sadly, this evidence seems to be ignored, as do so many other details. Would that be because the persons involved were so very obviously wealthy? Or were members of an elite organisation? And if the suspicions are true, consider the arrogance of the people placing these investments, - they consider themselves totally above the law.
Aaron Russo was a very famous Hollywood producer. (RIP, Aaron) He was be-friended by the Rockefeller dynasty, who tried to persuade him to join the Council on Foreign Relations. Part of the persuasion involved an explanation of how omnipotent members of the CFR were. He predicted to Aaron that 9/11 would happen, and also explained the upcoming plans to micro-chip the population, and the relevant data-bases that would be involved (with CFR members being not chipped! All testimony was on youtube.
"The powers of financial capitalism had a far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a FEUDALISTIC FASHION BY THE CENTRAL BANKS OF THE WORLD acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank...sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world."
Quote by: Carroll Quigley (1910-1977) Professor of History at Georgetown University, member of the Council on Foreign Relations (CFR), mentor to Bill Clinton
Source: in his book Tragedy and Hope, 1966
(So now you know why one of Browns first acts was to make the B of E independent. It was/is a requirement of the proposed structure of the New World Order upcoming!)
"... we conclude that the [Federal] Reserve Banks are not federal ... but are independent privately owned and locally controlled corporations... without day to day direction from the federal government."
Quote by: 9th Circuit Court : Source: Lewis vs United States, June 24, 1982
"The Trilateral Commission is international...(and)...is intended to be the vehicle for multinational consolidation of the commercial and banking interests by seizing control of the political government of the United States. The Trilateral Commission represents a skilful, coordinated effort to seize control and consolidate the four centres of power - political, monetary, intellectual, and ecclesiastical." Quote by: Barry Goldwater (1909-1998) US Senator (R-Arizona)
Source: in his book "With No Apologies"
"We have stricken the shackles from 4,000,000 human beings and brought all labourers to a common level, but not so much by the elevation of former slaves as by reducing the whole working population, white and black, to a condition of serfdom. While boasting of our noble deeds, we are careful to conceal the ugly fact that by our iniquitous money system we have manipulated a system of oppression which, though more refined, is no less cruel than the old system of chattel slavery."
Quote by: Horace Greeley (1811-1872)
Editor of the New York Tribune, ran against Ulysses Grant for presidency Date: 1872
"The real truth of the matter is, as you and I know, that a financial element in the large centres has owned the government of the U.S. since the days of Andrew Jackson. History depicts Andrew Jackson as the last truly honourable and incorruptible American president."
Quote by: Franklin D. Roosevelt (1882-1945), 32nd US President Date: November 21, 1933
"I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit.
Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely
controlled and dominated governments in the civilized world. No longer a government by free opinion, no longer a government by conviction and the vote of the majority, but a government by
the opinion and duress of a small group of dominant men."
by: Woodrow Wilson (1856-1924) 28th US President Date: 1916
And this should …...., well, just see!
I make no apology for mentioning DeepCapture, again.
THIS IS A 3MB PDF WHICH EXPLAINS AT LENGTH HOW THE FINANCIAL EMPIRE HAS SUBVERTED THE GOVERNMENT OF THE US, AND BY IMPLICATION, GIVEN EVENTS CURRENT IN THE UK, THAT COUNTRY TOO.
Returning to Aaron Russo, here is an extremely revealing video, concerning the Rockefellers, 9/11, and RFID chips. Astounding in its implications, that are now being witnessed, as they play out, in the UK and the US. Plainly put, Brown and his corrupt cronies have sold out the British Nation, as did that filthy liar, Blair (now in the employ of J P Morgan) before him. Listen carefully!
Several US Presidents have warned on national television of the danger posed to the nation by the CFR, and the Trilateral Commission, and specifically the Banking Cartel, and the Military/Industrial Complex.
Here is rare footage of President Eisenhower, in 1961.
President Kennedy was also involved in warning the nation.
Was this the true reason for his demise? He would not be the first US President to be murdered following warnings about the Banking Cartel!
As Deep Capture progressed through the years, another character arose. Leo Strauss was a political philosopher who had a shaping influence on the Bush administration evolution.
And here, the destruction of the middle class, - remarkable similarities with the UK, although the UK would lag the US by c.8 years.
However, the culture of lies was never restricted to the US. Brown in the UK is a liar too.
Time now to return to 9/11. First this link, already shown previously.
Significantly, prior to 9/11, J P Morgan had sold $2.2 Trillion Treasury Bonds in excess of authorisation by the US Treasury. Those records were in building No 3 of the World Trade Centre. Naturally they were destroyed during 9/11.
This is interesting.
And a few extras.
And here.
And here.
Remember, this was predicted by Nick Rockefeller when trying to persuade Aaron to join the CFR.
Sickening! And we think these people are human?
Enough on the character of these people, you should understand the problem by now, and the names. Google is a very powerful tool. Use it.
The point is that the US CFR is now linked into Europe at a very high level, via The European Council of Foreign Relations, with a very powerful membership, including Etienne Davignon, No 20, the Head of the European Bilderberg Organisation, no less, and George Soros, No 99, and Dominique Strauss-Kahn, director IMF., No 100. This is a terrifying development. Read and weep!
Many things hinge on the upcoming G20 on April. Hopes may be high. My expectations are rock-bottom! Behind the scenes, blocks will do their own thing, the disparity of interests is too great.
Dumb and Dumber organise a “Con the Sheeple Extravaganza”. Or, this could be really serious behind the scenes, their common approach to the G20, which would definitely be very bad news.
Putin clearly has ideas of his own. Here is a PDF of his recent speech at Davos. http://www.weforum.org/pdf/AM_2009/OpeningAddress_VladimirPutin.pdf
I do have a copy of Wens speech at Davos, but it is extracted from various Chinese blogs, and the translation is not good. It concentrated mainly on Chinese efforts to keep their economy motoring along, with very little political comment.
However, Chinese mercantilism has blossomed since then with many “deals” to make their Yuan currency acceptable internationally, and many global commodity supply deals. Both types of deals are coming amazingly rapidly. Since then, it is obvious that the “Shang-Magans” have returned, with the “Shan Chu”, head of the “Council of Compradors”, and the “Compradors” themselves, perhaps more electronic this time around, oiling the wheels. At least there is more honesty in this method, rather than the current US fraud and manipulation, in EVERY area of economic/financial life, many times detrimental to other nations, or producing countries.
And the above link explains the recent $300M Chinese investment in UK listed European Nickel.
Financially, the question of China continuing to purchase US T-bills is important. They have ceased the purchase of agency debt, that falling to the Fed. I doubt their continuance of T Bill purchases following their placement of existing significant holdings into other asset classes which is proceeding rapidly. Cessation of T Bill purchases will enhance their own ambitions for Yuan hegemony, via downward pressure on the dollar.
The problem here is the recent visit by H Clinton to China, and her discussion topics. She is CFR first, and I doubt totally her integrity. Will the Chinese also carry that doubt?
The Gulf States have been considering their own currency, backed by Gold, and possibly Oil, for almost a decade. Up until recently the US military umbrella restrained them from this action, but now?....
I do not think oil is suitable for a Gulf State currency, as each country has differing exhaustion rates for their oil fields, - it will probably be gold, and Saudi is busily buying.
I have included the following link, both because it illustrates the current theme, - alternatives to US $ as a Global Reserve Currency, and thus the decline of US hegemony, but also it illustrates most vividly a point made earlier in relation to the US Bank orchestrated collapse of Global commodity Prices, and every other price, on July 13th 2008, and the onset of the current cascade, in order to regain failing $ supremacy.
I seriously doubt the long term future of the $ as a Global Reserve Currency. I seriously doubt the ability of any other contender to replace the $.
A basket is the only alternative. The US and UK will push for a continuation of the current status, with both Brown and Obama grandstanding. This will be unacceptable to ALL other nations.
Iran has stated that it will supply Oil to Japan in Yen, and China in Yuan. Venezuela has matched that.
China will go for Gold Backing, probably with the Yuan dominant in a basket of S E Asian currencies
China wants the Yuan to be a Global currency
Russia will go for Gold too!
The £ will not figure anywhere!
The IMF recently published this PDF. Reading it one would wonder what planet these people inhabit. If this is the limit of their intellectual comprehension of........ What hope is there? These people want to run the next round of Fiat crap. - - OMG.
Well, read it for yourself.
And the Press Briefing for its release is here.
But, Hey, I'll let Elaine take up the story.
WOW. Read and Weep, all over again.
But hey, Elaine, you are a good blogger, you don't have to change facts to make your point, - Greenspan reduced interest rates to 1% during the Tech Crash of 2000/3, not 3% as your graph shows, and the Yen Carry trade stalled, but resumed later when interest rates were raised again.
The Japanese found a way to keep interest rates low while carrying a massive trade surplus, - give Yen away globally at almost zero interest, but mainly to foreign borrowers. This kept the Yen value low to keep exports flowing, thus decimating the western industrial base.
China did the same by printing Yuan for internal use, to the value of their US trade receipts, and used the dollar earned to buy T-Bills, in turn helping depress western interest rates and keeping the dollar strong(er). (Small wonder Wen was pissed with Geithner ((Group of Thirty)) when he accused the Chinese of currency manipulation, the T-Bill purchases have maintained dollar strength and hegemony and allowed the continuance of inflation avoidance in the US via cheap imports and low interest rates. The US was complicit, even dependant, on the arrangement.)(H Clinton probably visited Wen to beg for the continuance of this arrangement once the dust has settled!)
The West was fully cognisant, and complicit in these arrangements, convincing their electorates through spurious financial/economic arguments that off-shoring was “good”. The west moved to a “financial services paper pushing, economic fact manipulating regime”, that could only maintain voter approval by constant bubble blowing, interest rate manipulation via Gold and interest rate swaps, complete shadow banking systems and derivatives that dwarfed the real world, incessant increases in personal and corporate debt levels via international agreements on leverage levels and asset quality ratios. Eventually the Yen carry trade, via London, into the Caribbean Hedge funds, and the leveraging of the hedge funds back through London and NY Banks managed to create so much international “money supply” growth (debt), so much pressure on commodities prices , benefiting commodity exporting nations, that the Wall Street financed Administration realized that the Dollar hegemony was under threat, and inflation caused by the massive leveraging of the Yen Carry trade, not to mention their own leveraging was creating inflationary problems in their home market. The engineered collapse of summer 2008 was triggered on July 13th 2008 by pre-arranged margin calls on over leveraged borrowers. (The Georgia poke in the eye helped western capital flight out of Russia, - sod the population problems, - collateral damage! Putin interpreted it wrongly and responded militarily. Add in the Gold debacle, and now he's really pissed!)
THAT WAS THE CULMINATION OF THE PLAN, PRESCRIBED DECADES EARLIER, PRACTICED EARLIER IN THE SAVINGS AND LOAN CRISIS IN THE US, INTERNATIONALLY IN INDIVIDUAL COUNTRIES BY ECOMONIC HIT MEN RECRIUTED BY NSA.
NOW IT IS BEING APPLIED GLOBALLY!!
The evidence is contained in this document.
Which unfortunately, or maybe fortunately, is not available on-line.
It was written in 1994 by a Nobel prize-winning economist from Berkeley (George A. Akerlof) and a Stanford economist (Paul M. Romer). The plan was entitled, Looting: The Economic Underworld of Bankruptcy for Profit. A better title might have been, Looting the Treasury For Dummies. It was commissioned by the National Bureau of Economic Research (NBER), the agency which dates recessions. By following this government-supported agency's script, organized crime was able to transfer trillions of dollars in taxpayer money into their own hands, leaving the entire planet reeling and its economy in shambles. It's the greatest robbery in human history. And shortly it will become genocide on a massive scale.
The nature of the political selection process does not recruit natural leaders, good businessmen, natural visionaries, or capable administrators, but as a consequence of itself promotes con-men, liars, incompetent manipulators, who will ultimately only seek personal aggrandisement. They will promise anything to maintain power, to the extent of bankrupting the country of birth. They cannot envisage real change, but a slow evolution of the current status quo.
This status quo now involves subsidising the incompetent at the expense of the competent, rewarding failure at the expense of success, maintaining a failing Fiat System and global trading patterns in the face of all evidence that they have failed, and landed extreme hardships on the populations
The slow evolution of the status quo thus involves the expansion of this current failing system into a truly global model, administered by the self same power base that presided over the engineered failure of the existing system, tightly controlled ultimately by the BIS and the IMF.
This is the key to Browns sell out of the UK Brown, and Blair before him, and Cameron and Clegg, are Bilderbergers. Brown/Blair gave the signal when they sold UK gold to support the US bail-out. They were party to 9/11 lies and invasions costing the lives of millions, and the cover up of the Dr Kelly murder.
All the economic analysis, all public statements from major politicians and the G20, must now be interpreted in this light.
Back to economics for a while.
The UK will face stagflation and low growth for maybe 15/20 years, with the distinct possibility of a period of hyper-inflation during which the currency will fall rapidly. Absent hyper-inflation, the £ will fall, first to parity with the $, (the £ is falling heavily as I write this!) then as the $ falls, the future of the £ looks murky, not clearly predictable, but not good.
Today we learn that UK industrial output for Jan 2009 fell 2.6%, taking the annual rate of decline to 11.4%.
I have a message for you, Brown, if you can be bothered to listen.
Industrial output is swirling around the hole in the middle, and the financial services sector is taking repeated canon ball hits to the testicles. On the 9th March 2009, I watched sterling decline 2.8% ish against the $, because of your quantitative easing, which means every import denominated in $ is now 2.8% ish more expensive IN ONE DAY. You are forecasting an annual GDP decline in 2009 of 2.5% ish, and conning the public via the MSM, which you control, that inflation will go to zero.
When are you going to change your medication and undergo a reality check with the numbnuts economists and “yes” men advising you?
It does seem strange that everyone BUT you can speak the truth!
Your repeated financial theft from the countries future viability, aimed at reassuring the World that the UK remains a place friendly to Global Finance is totally misplaced (we know that is not the real reason). Global Finance is leaving, en mass, heading for S E Asia. What the UK needs is a viable manufacturing base, and what it doesn't need is a Mandelson (Bilderberger) being the arbiter of its future, a method that reeks of moral hazard, with its administrator having already proven himself to be susceptible to such hazards. The Finance Industry is mortally wounded in the UK almost finished. China is investing in mines, steel mills, a huge manufacturing base, infrastructure, strategic minerals that you haven't even heard of, and trade alliances all around the Globe. You are investing the countries future, because you've stolen its todays, in bankrupt fraudulent banks and their gold plated pension schemes, stupid malfunctioning data bases, an ever greater functionally illiterate bureaucracy, and other unthinkably stupid schemes, and all for treasonable reasons. Who do you think will win, and where will that leave this country??
Oh I know that this country means nothing to you, other than a grandstanding base. You will sacrifice the taxpayer, and his children, and his grand children in order to ensure your personal power. You are an insult to the human race, a disgusting excuse for a rodent.
In my considered opinion, you have tied yourself to what you see as the global elite, that's your team. You are dedicated to maintaining a failed Fiat system because that is their power base, and to do this you are determined to sacrifice 60+ million people to a standard of living last experienced in the 1910 – 20s.
You were elected to serve this country's population, not yourself, and certainly not an illusive, exclusive, club of conniving, warmongering financiers, and the men behind the curtains who pull their strings, several of whom have mansions and estates in this country. Your co-conspirators are walking dead from practices illegal under their charter, as are the UK versions. Bury them, without ceremony. The term is “Bankruptcy Proceedings” under existing laws, which they, and YOU, have blatantly flouted. And YOU have encouraged them to flout the laws. But it is apparently quite common practice.
What you did with the Lisbon treaty was treasonous, and what you are NOW doing is also treasonous.
Since I know you have a large attention span because you must have studied the Lisbon Treaty in minute detail to know that it did not represent a copy of the one that went before, and since you could faithfully recommend it to parliament, but sign it in relative secrecy, this current discourse should be light reading for you. So read it. You will find many of the Fiat fraudulent manipulations exposed, and that, by a team of INTERNATIONAL BLOGGERS, and careful reading and piecing together of facts. I accept some have been missed, but I would be prepared to wager that there are many that you were unaware of.
Your goose is cooked, you are exposed as a manipulative grandstanding failure.
“When you see that trading is done, not by consent, but by compulsion — when you see that in order to produce, you need to obtain permission from men who produce nothing – when you see money flowing to those who deal, not in goods, but in favours – when you see that men get richer by graft and pull than by work, and your laws don’t protect you against them, but protect them against you – when you see corruption being rewarded and honesty becoming a self-sacrifice – you may know that your society is doomed.”
–Ayn Rand, Atlas Shrugged (1957)
The national awareness of your complicity and duplicity and treason is growing steadily. Those that are aware are increasingly angry.
Are you ready for the consequences?
Requests for global banking system/supervision? Just more and more Porkies. One day, perhaps, an interviewer with stones will ask you to cite the occasions of your repeated calls.
BUT, we understand that this is your message to the major conspirators. “Please recruit me, I am one of you!”
You look as if you don't know what you are talking about, so Gordon, - - S.T.F.U.
End of message,
Sigh!
To continue :-
The UK standard of living will fall precipitously as global energy costs rise as the world economy regains momentum. (We already pay£1.6B p.a. as a carbon tax to the EU, hidden in UK electricity bills.) Hayek predicted a return to serfdom, or feudalism, from the position this nation will find itself in. Post Democratic High Tech Feudalism. Congratulations to nulab/ECFR. Welcome BIS and IMF, and UN, and WHO, and - gawd knows, all the attendant crap.
Note that Mervyn King is a member of the Group of Thirty. Do we really think that he failed to anticipate the current problems as he says?? Asleep at the wheel?
They've been publishing papers about Financial Reform, Regulation, Oversight, etc, for quite some time now, in fact Financial Reform, and Oversight, mostly Global, it is one of their main objectives.
Here.
Here.
And look at page 6 for a star studded role call. - AIG, (snicker) A company that deliberately avoided oversight and issued CDS paper without any reserve backing. Fox Guarding chickens? And J P Morgan, and G Sachs, both well known to be the instigators of derivatives of all types, and stratospheric leverage levels via pressure on legislators. Yup, a good working group for banking oversight and supervision!
And Blair? Yeh, him, he pressured the FSA.
Either way, Brown was Chancellor, and you, Merv, were B of E.
(Oh, and by the way, Merv, I note that you are also a Bilderberg attendee! Just thought I would mention it! Did you enjoy meeting Bernanke (CFR) at the Bilderberg 2008 bash in Chantilly, Virginia )
Sorry Merv, your excuses about failing to anticipate this economic catastrophe just don't wash. You lied when you said you couldn't have seen it coming, you are just as complicit as Brown and Blair. You are a trained and experienced professional. You are also part of the group planning for Global banking, ….... planning for the New World Order!
So Brown, and Merv, since you have now commenced quantitative easing, which means buying our own Guilts, I wonder what we, or YOU, are going to do when we have to SELL them, what will the interest rate be, Merv? 10%, or 15%., or 25%? You will probably need that to attract investors who would naturally worry about currency devaluation. But Merv, won't that crash an already collapsed economy. That's right Merv, and you Brown, you're both clueless! What is the exit strategy?
I thought I would draw your attention to this article concerning Germany in 1919/1924. Yes, I know you and Brown are a pair of smart arses, and don't like taking advice from anyone not a brown-nose of your team, but, in your interest in avoiding the ignominity that history will remember you as guilty of, I thought you may be interested.
Interesting comments, there. Seems that towards the end, it wasn't so much the quantity of money, or the rate of growth of M3, or whatever, but the velocity of money, that mattered. And that's a confidence issue, Merv, a confidence issue! Which I suppose makes it damn near unstoppable once it gains momentum, because as the currency dives, so does confidence. And I do note that confidence in Brown & You stinks right now, so how's it going to stink in say 6, or 12, or 24, months. And now I notice the IMF is going to get it's wheels oiled. Where's that coming from Merv, or Brown? Or anyone care to answer?
But all that plays into the EU plan. The UK spirit is a bit too adventurous for the EU politburo. The UK must be totally broken, mustn't it, socially structurally, and economically
Oh well.
Now, Merv, as to your silence in rectifying the blunders of Brown, Mandy and their cronies, (Coincidently, both Brown, and Mandy are Bilderberg members like you!) since you are part of the New World Team, I assume that, as with Volker, (and I note a new aggressive tone to your communications with said cronies) you probably won't act until Geithner et al have ruined the US, and Brown et al have ruined the UK. You'll be seen as the saviour, - they'll both be gone soon, then you make your move. But what will be your move, I wonder?
So, let's look at Volker, a CFR member. The alleged superstar who conquered inflation in the 1980s, in the US. But who created the inflation? Was it the Federal Reserve creating too much credit (debt) bank lending? Yup, that's right.
One of the biggest bank failures of that time, (and a dress rehearsal for the current theft of taxpayers money) and there were many, was the Continental Illinois, of Chicago. It went down in history as the first electronic bank run. How did it get into trouble? Crazy lending policies, like now. The FDIC was unable to cover all deposits, and many were over the limit anyway ($100,000), so after a lot of corrupt dealing which I won't cover in detail, the US government and the Fed had to get involved, just like now, which means ultimately the US taxpayer! Paul Volker was Fed Chairman at the time. He explained the fleecing of the taxpayer to the Senate Banking Committee, “The operation is the most basic function of the Federal Reserve. It was why it was founded”
That statement confirmed the entire conspiracy of the meeting on Jekyll Island and the setting up of the Operating Methods of the Federal Reserve. The system was DESIGNED to insulate bankers from losses by placing the losses on the taxpayers, via the Fed, via increased taxation to pay down the “national debt”, and via inflation, (the dirty little secret), while keeping profits in the hands of the bankers. Exactly what is happening now, on a truly global scale!.
Where large banks know that ultimately the taxpayer will backstop their aggressive lending practices, there is little incentive to be prudent. Leverage is taken to the limit, as is the credibility of the borrowers. Bonuses become massive, the exit plan created. Bingo. Bailout. Too big to fail.
(The centralised banking system that is the Federal System, was forced upon the US by agents of the Bank of England. Those BofE agents worked behind the scenes for decades to create the Fed system. This type of system now infests 170 + central banks globally. The debt driven economies feed the monstrous appetite, the parasitic appetite, of the original founders of this fraudulent system. One has to ask, when is enough, enough? All Fiat systems throughout history have failed, because of the greed of the operators.)
Volker now runs the Group of Thirty, whose membership includes the Global banks worst offenders, and you are a member, Merv, therefore you cannot expect us to believe that anything that you thieves propose will be beneficial to the general populace. Your proposals will favour the banks, and the already wealthy. The mechanics of the system are designed to this end.
And Volker is also Chair of Obama's efforts to ruin the economy of the US.
Precisely why are you on the Group of thirty, Merv? To learn new ways to destroy the middle classes of the UK? In the upcoming link, from Jesse, your buddies on the Group of Thirty are shown for what they are! You have oversight in the UK. Are you blind?
(Oh, by the way Merv, did you know that Central Banks were net purchasers of Gold in Jan 2009? And they weren't western banks, either! Notably France was a net seller! - - You didn't? You mean your mate Rothschild surrogate at the LBMA didn't give you the hint? My oh My, maybe he's pissed with you for damn near ruining his party!)
Create a problem. - Problem creates panic. - Present a solution, your solution. - Sheeple go for it!
With time, the rats get flushed out of the rat holes, and the evidence of corruption and theft of tax payers future standards of living becomes apparent.
It is the system.
And the banking whore houses have spent well on the politicians.
Rather than give the direct link to the article, here is the link to the erudite Jesse, complete with his comments.
Read and enjoy.
So Merv, and Brown, in the interests of public record, and public knowledge, since the public will be the ones to suffer financially from your failure of professionalism and oversight, and your corruption, when does the UK public get to hear who are the recipients of all the wealth you have stolen from them and poured into banks with international debts? And if any of those debts relate to derivatives, of whatever nature, that those regulated banks dealt in unregulated OTC markets or dark pools, why are you making good their debts on the backs of the taxpayer, rather than declaring them null and void, and therefore unenforceable and valueless. Why are you condoning fraud in regulated bodies? Why are you not upholding the law and prosecuting the banking officials? In English law an illegal contract is null and void, unenforcible, it has no value. Why are you valuing it for purposes of stealing from the UK taxpayer?
And for AIG, it had/has a London branch which was/is presumably covered by UK law relating to insurance and the maintenance of adequate capital to cover statistical risks. AIG obviously wrote copious amounts of Credit Default Swap contracts. These are Insurance policies in all but name, despite the fact that some may not have any “insurable interest”, that deliberately avoid regulatory oversight. AIG knew what they were doing writing these contracts, as did the counter parties. AIG deliberately sought to avoid regulatory oversight because the absence of balance sheet assets made them more profitable. Why are the relevant authorities with insurance company oversight not upholding the law and prosecuting the AIG officials. In English Law these contracts are illegal and are null and void, unenforcible, valueless. Why are the Insurance industry valuing these contracts for purposes of stealing from the UK taxpayer? And why are you upholding that valuation and stealing from the UK taxpayer to make good counterparties?
And then the G20 says”hello rats, would you like more food. Sod the taxpayer and his future, we'll let the central bank create the money from nothing, debase the currency, increase taxes in perpetuity, just so the international banks can keep bribing us, and give us nice little jobs when we retire the political life. Just wait 'till the New World Order of the IMF, and the BIS gets underway, we've got it made”
OMG.
However, on the other hand, if you are in a position to invest......
Don Coxe is a Chicago economist/investment adviser, sometimes in the past overly optimistic, who runs a weekly conference call.
In his latest call, he makes reference to Gold, to western central bank sales, and of the significant global movement towards government run economies which will result in increased overheads caused by malinvestments resulting from political dogma, slower growth and higher unemployment. The entire presentation runs for one hour, including the questions and answers at the end. It is ALL worth listening to.
That movement towards politician controlled economies has been progressing below the radar screens for several decades, and will lead to a movement, politically and structurally, towards the 3 to 5 year endgame for national sovereignty vs global control.
Meanwhile,
This is where we are now.
And there is far, far less gold in reserve than paddles, they've leased it away! They know it. The World knows it. I know it!
It is in foreign hands, private and public.
The rest of the World regards them as Morons. The fraudulent Fiat experiment is a failure, it is dying. Version 2 is around the corner!
And this is where we are going. All of us.
And here.
And here.
Welcome to the New World Order.
Today, Brown says his piece, but insists that now is the time for the left to intervene, as “free markets” have failed.
Brown you are a bare faced liar. The “markets” have never been free, the machinery behind them won't allow it. YOU won't allow it.They have failed, if they have failed, because of too much intervention.
Intervention that you, Brown were party to, and still are.
I also notice that most major politicians are all seeking to distance themselves from responsibility for the coming carnage.
Filthy rodents, bought for a penny.
Refreshment Break. I need it!
Watch
Watch
Watch.
Part 6 of this series can be read here.
It says 'written by James Higham' below. Actually, it was written by Sonus but I can't reformat the author in my template.
Tuesday, March 24, 2009
[no sex please] we're british
Graphic image of a sexual act - cover the children's eyes.The problems of inserting sex into a novel. I wasn't going to post this but not having anything else ready - well, why not?
Liz Hinds had sexual troubles recently, both in her novel and with her George who decided to mount a rottweiler.
Of the different aspects of this novel of mine, I’d give my handling of them the following scorecard, out of ten:
Action, chases, killings etc.: 7
The problem with action is the use of the staccato technique and the economy of shortish words required. No section kills speed faster than a misplaced comma or misspelt word and this requires close attention.
Suspense, tension, thrill: 5
Rather than keep the tension bubbling, I prefer to allay fears and lull you into a false sense of security, then when you’re not expecting it, in comes a horror, which I describe mundanely, in the way the perpetrator might. Overall, you remain uneasy, knowing it could come at any time.
Realistic dialogue: 7 to 9
Pathos: 4 [but I’m working on it]
Sex: 7
This is really tough to handle well and I’ve had to rewrite and adjust it over and over. For a start, one’s own sexuality must never intrude because that would turn anyone off. Once you’re clear it’s characteristic of the protagonist only and true to form, then it’s the better for it.
References to genitalia can only be used outside the sexual scenes. For example, someone will refer to vaginal politics at some point in an asexual philosophical discussion but when it comes to the actual lovemaking, these words are mysteriously absent.
These sorts of scenes make you realize just what a genius Nabokov was. How do you have a sex scene [and one of main character Emma’s, in the third book, goes for two chapters in real time] and not refer to body parts? The answer is – with a heck of a lot of editing.
How do you avoid the other end of the scale – the classic French cut to the crashing waves on the shore which is, quite frankly, cheating the reader? How do you make it suggestive without the reader feeling short-changed?
For example, it might go: ‘Sophie had just withdrawn her hand when Laurence walked into the hut …’ Laurence is an upright military type.
There was no reference anywhere to anything sexual having happened before this scene but in the context of the three people now in that room, knowing the two characters, both women, knowing their relationship and knowing that the only possible venue was the bed in that room [from a reference two chapters earlier when they were building the hut], then it’s pretty clear what had been going on. The shock and horror which now follows confirms it, still with no anatomical reference nor any name for the act.
It needs to come form nowhere, it seems to me and not be mentioned again for some time.
The scene I’m most pleased with is where one character gets some alternative passage action in but you only know it was happening from a third party prude who accidentally sees the two of them together in a rock pool and now she rushes to tell others, in the euphemistic terms you’d expect a prude to use.
The problem with this technique is that you can become too opaque, you rely too much on the reader interpreting it correctly. It also brings in the problem that if you keep the description of the physical aspect mundane, how do you build sexual tension?
The only way is to leave little alternative. If there’s a lead up to it, if a reference is made to fingers and if you distract the reader at this point, coming back to the recovery scene straight after the thing is done and describe that in detail instead, then the reader can fill in the blanks.
Gratuitousness
Nothing kills sexuality in a book and turns the reader’s attention back to the author more than a scene being misplaced, in the context of the sub-plot. If there was hardly likely to be sex there, then why have it?
I’ve tried to delay it actually. When you were expecting it, it doesn’t happen – they’re called away, something gets blown up or whatever. Eventually, when it does happen and you say, ‘At long bloody last,’ it goes for two chapters and you can bathe in it.
In one series of scenes on the run in northern England, the middle-aged ‘protector’ is thrown together with a 23 year old and the reader thinks, ‘Oh yeah, I know where this leads.’ Actually, it never does. There’s more sex which doesn’t happen than sex which does and you’re the one with the naughty mind who thought it was going to.
Never mention group sexSexual prowess
This is another killer. In a Mary-Sue novel, the lead man has near-magical powers and the girl is always voluptuous and gagging for it.
You have to avoid this like the plague.
If one of the three lead characters [and there are always three or four at any one time] is middle-aged, then he’s not going to excite his thirtyish partner and certain plot paths can accrue from this, for example when she does meet a younger stud. Yet she has to be happy enough in their relations overall or else she wouldn’t hang around.
These things are not easy to write. You also have to have sexual scenes between other characters, almost as closely written as with the leads but not quite because you don’t want to fragment the storyline. This takes a lot of rewriting and editing.
Finally, why is your fellow blogger, a supposed moral champion, including this sort of thing in a book anyway? Actually, I’d like to see how Cherie, Andrew Allison, Ubermouth or dearieme would include such a thing.
Perhaps they could write a short story each and we could see for ourselves.
UPDATE Wednesday
Uber has taken up the challenge - now what about you others?
Monday, March 23, 2009
[sonus] understanding issues: part 4
In Part 4, Sonus gets down to the nitty-gritty of who is to blame for this mess. An auspicious day for America today.
Part 3 of the series can be read here.
Before going into detail concerning the almost global conspiracy on the part of Fiat currency holders to suppress the price of Gold, it is important to understand the depths of insecurity that Fiat owners exist under. Many millions, probable billions of taxpayers funds have been expended over the years, to this end. This is outright theft. It has no legal mandate.
But it does show the fundamental weakness of Fiat, particularly towards the end of its life-cycle, when administrations are increasingly forced to manipulate every damn economic read-out monitor to convince the electorate of their security.
The senior political class, the MSM, and professional economists become nothing more than bare faced liars.
Greenspan spoke honestly about the characteristics of Gold before he took the Chair of the Federal Reserve Board.
And this article speaks of the total conversion of Greenspan, from an Austrian/von Mises disciple, to a Fiat currency fool whose main tool was verbosity and deception, hidden by increasing levels of debt, off-shoring, manipulated economic statistics, excessive leverage, and manipulated markets. A totally failed economic formula.
The previous two articles show the entire change of mindset that a genuine economist must go through in order to administer the fraudulent Fiat Federal Reserve system.
They must become totally subverted.
However, it is claimed that Greenspan had a motive. It involved his ego. But can an ego really subvert years of intellectual study that had obviously convinced Greenspan of the futility, fragility, and unworkability of a Fiat financial system.
I think not.
Here is a quote:
“But Greenspan was and is a member of the “Council of Foreign Relations”. He was corrupted!!
Greenspan had written a scathing article in the Sixties which attacked the kind of policies the Federal Reserve used to manipulate the economy. That he became Chairman of an institution he so despised put him in position to radically change the financial world. So, it seemed the facts fit the case of an "inside job" on the system to drive it to a state from which it ultimately would crash and splinter to pieces, making it possible to rebuild it in a better way. A truly radical scheme, it seemed, to destroy the Phoenix and then reincarnate it in Greenspan's own image.
But, despite the fact that the anticipated scenario has been playing out on a grand scale, a simpler explanation has come to light now and it makes more sense than the one we had been postulating. The answer comes from Ian Gordon. He writes in “Longwave Analyst:
My deceased friend, Teddy Butler-Henderson, met Alan Greenspan in the 1960's. They apparently discussed the Kondratieff Cycle. According to Teddy, Alan Greenspan confided that he hoped he could be Federal Reserve Chairman at the onset of a Kondratieff winter, because he felt he could defeat winter by substantially increasing the money supply and reducing interest rates to near zero. He had his wish and effected those actions following the 2000 stock market peak.
This effectively put winter on hold but massively compounded already excessive credit to the extent that people who should never have had access to loans were willingly given them. Now the credit bubble that Alan Greenspan initiated is beginning to unwind. The process will be horrific and cannot be reversed. Incidentally, Mr. Greenspan told Teddy during that same conversation that if he failed to thwart the Kondratieff winter, it would make what followed 1929 look like a `Sunday school picnic.' This is what we have to expect.
The above was written almost two years ago. And, we now have a depression greater than that of the Thirties, which is why we call it the Greater Depression. Greenspan had a goal---to eliminate the Kondratieff Winter. But, Alan Greenspan has likely completely destroyed the fabric of the world economic system by trying to avert a Kondratieff winter. His mistake was in assuming that bankers would remain as prudent as they had been in the past, rather than being mesmerized by the new money paradigm Greenspan created.
With interest rates set to zero and money flowing in an endless cascade, all a banker had to do to earn an instant fee was to make a loan to any body warmer than room temperature regardless of income documentation, then securitise the loan to get it off the bank's books. That meant instant gratification and no long term obligation to the banker himself. Greenspan should have realized that bankers are not rational, or even intelligent, creatures. He should have seen them for what they are---lab rats who could be taught to run mazes via cheezy rewards, without any thought to the ultimate consequences of this conditioned response.
This led to the current systemic breakdown we are experiencing today.
Instead of averting a normal Kondratieff winter, Greenspan created a Kondratieff "Ice Age." We will be lucky if this depression ends before 2027. The last depression lasted from 1929-1949, so we may have that long to endure this downturn. But, if the estimate that this is going to be worse than the last one proves correct, that 2027 date may be too optimistic. Of course, in the last depression, the stock market hit bottom less than three years after the depression started and trended higher from 1932, so we won't have to wait until 2027 for the stock market to bottom.”
The author of that quote makes an interesting case, but he forgets that under Greenspan a series of bubbles were blown, and Greenspan always maintained that it was not the job of the Fed to deflate bubbles, after all it was difficult enough to diagnose bubbles before they burst, but the job was to pick up the pieces afterwards.
This main change in Greenspans methods came shortly after his “irrational exuberance” speech, in 1996, after a visit by Mr Rubin. One wonders what was said at their meeting.
After several of these bubbles it must have been obvious, despite Greenspans ego, and outside pressure, to a skilled economist and Fed banker, that serial bubbles were not the answer, and a reversion to intelligent economics would have been the policy. This obviously did not happen, in fact, Greenspan became a cheer-leader for the securitisation of debt and its sale around the globe. He had obviously been corrupted!!
Concerning the details of the developed corruption resulting from free “money”, Karl Denninger speaks his mind.
Well said, Karl.
Let me make the point a little stronger.
As Chairman of the Fed, Greenspan had oversight responsibility for the banks. They were obviously dealing in OTC derivatives of various types. These were totally opaque and unregulated. Banks, allegedly, are regulated bodies, and were thus in breach of their charter. Greenspan not only failed in oversight responsibilities, he was the cheer-leader for their advancement, globally, and as a reasonably intelligent economist would have been perfectly aware of the consequences of a completely derivative based shadow banking system, that is now imploding, and is sucking the REAL WORLD into an economic/financial black hole. J P Morgan balance sheet has $88 Trillion of derivatives, of various types. European clearing banks have a £16.3 Trillion POTENTIAL LOSS, that no-one dare own-up to. Bernanke, as new Fed chairman also has oversight responsibilities. He has also failed to fulfil those responsibilities, by not preventing banks from participating in these instruments.
WHY?
Bernanke was appointed because of his previous published papers concerning central bank actions to get out of, or avoid, a great depression. The current debacle was known, anticipated, years ago! But more, - the current debacle was PLANNED and EXECUTED years ago!
Who are the AIG counter-parties?
Karl Denninger wades in as usual with well made points.
Before the Sub-Prime broke, the XAU, as a proxy for gold miners, was systematically taken down, month after month, when the price of gold was rising rapidly, and the share prices of other non-gold miners was also rising. A completely counter intuitive move.
It was done to counter the anticipated rise in the share price of miners, in a repeat of the late 1970s, (and other actions were taken against Gold), that the upcoming financial collapse would create. Someone had prior knowledge of these events.
Intrepid Rob Kirby explains.
Who could afford to do this? Who would benefit?
Who wanted to avoid the public judgement that the Gold Price delivers on failing Fiat currencies? Logic says it is the “owners” of the Fiat system.
Early in the life of nulab, Chancellor Brown sold off a significant part of the UK gold reserves, deliberately advertising the fact globally, which served to depress the world price further. Significantly, this was round about the time of LTCM troubles, and the Eddie George comment! He currently defends the action as all simpletons do, by asserting that he would do it again, thereby confirming suspicions concerning the logic of his reasoning processes, and his devotion to the Fiat. He was “Bought” very early into his bout as Chancellor!!
Blair now works as a “consultant” for J P Morgan!
Recently Bear Stearns was “taken over” by JPM, with a subsidy from the Fed, of some $30B. During fractious negotiations, which involved the Fed, Geithner, and a few other familiar names, someone omitted to inform Bear that 24 hours later the Fed would be opening a window that would have allowed Bear, an investment bank to borrow from the Fed. Well, hoodathunkit?
Bear was assassinated, because they were long gold. Significantly long. The cancellation of Bear's long, and increased shorting took gold down significantly, another counter intuitive move at a time of financial upheaval.
Once again, Rob Kirby takes up the story.
Understand that JPM is a tool of the Fed. Here is a direct quote:
“The tag team of JP Morgan as the monster and Goldman Sachs as its harlot represent a powerful pair that is more responsible for destroying the entire US financial system than 95% of the American public has any awareness. The colossus of JP Morgan is a monster, a predator, nurtured by pond scum. It has gobbled up Chase Manhattan, Manufacturers Hanover, Chemical Bank, Bank One, and more over the past two decades. Their profound presence in keeping the US Treasury Bond yields down can never be understated. They do so by managing 85% of the credit derivatives on the planet. They distorted usury prices, as in price of borrowed money, thus aggravating the LIBOR (London Inter Bank Offered Rate) market in a very visible manner. The oblong usury prices have contributed mightily to the destruction of the US Economy itself, created bubbles, killed jobs, and wrecked savings.
The ugliest hidden activity for the JP Morgan monster is to manage the Bank of Baghdad, where they manipulate the crude oil price, where drug trafficking money is funnelled from Afghan sales, under management by the US Military aegis (guys with no uniform stripes or markings). Maybe such illicit money offsets Credit Default Swap losses, making America strong for freedom and liberty. Goldman Sachs is clearly the investment banking agent for the US Govt, given the privilege of insider trading in unspeakable proportions. They manage the Plunge Protection Team efforts to intervene in financial markets, making America strong for freedom and liberty. The new kid on the block is the FDIC. The Federal Deposit Insurance Corp is steering fresh meat into the corralled JP Morgan stockyards for slaughterhouse feeding. The label of harlot might be too kind, especially from the perspective of senior bond holders. But JP Morgan requires fresh meat (capital) periodically, thus making America strong for freedom and liberty. Never mind the fires caused after its hearty meals and flatulence.”
“The maze of unscrupulous, devious, and insidious fraudulent business units of JP Morgan is worthy of a 500-page chapter in the US financial history treatise, someday to be written. See the complete distortion of usury costs (interest rates kept low) by JPM, with such a volume of Interest Rate Swaps that was sufficient to run the Bond Vigilantes out of town. Skewed cost of money is the foundation for speculative bubbles. See the management of US Treasury Bonds by JPM on behalf of the Federal Reserve, along with the $2.2 trillion that they sold above and beyond the officially stated US Govt issuance of US Treasury Bonds. That is called counterfeit evidence, the records for which were lost in the third building at the World Trade Centre. See the management by JPM of the Bank of Baghdad. Twice as much money is missing from the Iraq Reconstruction Fund than was stolen by Bernie Madoff, up to $100 billion being estimated. And never overlook the financial tentacles that extend from Afghan operations on the contraband side, to the Bank of Baghdad as the clearing house.”
And speaking of JPM derivatives …
Recently J.P.Morgan announced profits of $5 Billion, on the trading of derivatives of $87 Trillion.
There is no justification for a commercial bank, with regulated depositors' funds insured by the government, to be speculating on a level this great. One also has to wonder who actually 'lost' in those derivatives bets that JP Morgan made, who the counterparties were. How many losses were taken by AIG, Bear Stearns, and Lehman? Who is really being bailed out here? Aren't we paying for JP Morgan's "winnings?" If they speculate and lose, who pays for that? The tax payer. What is a bank doing gambling in unregulated over-the-counter derivatives involving commodities and financial instruments worth $89 Trillion?
This figure dwarfs the GDP of the entire world. Getting paid by the public whether they win or lose it appears. When a single player with deep pockets and government guarantees is placing bets in markets on a scale, that is the very definition of moral hazard. Until the Obama Administration takes strong steps to bring back Glass-Steagall, and put hard limits on the banks there will be no reform and no recovery. The US is 60 ish days into the Obama Administration. There is little or no systemic reform. Just a continuation of crony capitalism under Bernanke, Summers and Geithner.
To return to the main topic, - Notice also that HSBC is the other main holder of derivatives.
And HSBC is a Market Making Member of LBMA, along with a few other familiar names.
The London Bullion Market Association sets the Gold price twice per day, and it is a completely private setting, not open to public sight.
Is the LBMA twice daily setting of the Gold price also deliberately depressed by shorting or central bank selling via Bullion Banks?
Who knows, only the LBMA.
And that is wrong!
Rob Kirby goes further in this link and examines the activities of central banks leasing arrangements. Central banks lease out bullion as a way to suppress the price, knowing that the gold will probably be sold. They would only be confident in doing that if they were confident that the gold could be re-purchased for a lesser price in the future, and returned to them. This arrangement can be lucrative for banks struggling for profitability.
I'll hand over to Rob.
“Gold price suppression is not simply a “paper game” where relentless amounts of price suppressive “futures” can be sold forever; the price suppression scheme also requires that the price riggers expend some physical gold too – to make the ponzi-esque selling of futures “believable.” The physical gold which is mobilized to accomplish this is typically sovereign gold that is “leased” from Central Banks.
Leasing is preferred to outright sales because you can only outright sell something “once” – and it is gone. By leasing, the physical gold leaves the vault to be sold in the open market but Central Banks replace the missing physical gold with an I.O.U - for accounting purposes – and claim that they still posses the same amount of physical bullion! So, by leasing gold instead of “outright sales,” Central Banks can and do double count [cheat] – a la Enron – their gold stocks!”
Yes, they do double count leased out Gold, BUT THE RULES OF THE IMF AND BIS ALLOW IT.
Strange, don't you think?
Is it designed to mislead researchers?
Hyper inflation is a CURRENCY event and moves from deflation where there is a sudden loss of confidence in the currency creating a sudden loss of value, via the exit door., as in Iceland recently.
Eric de Carbonnel is a fine blogger who we will visit shortly, however Rob picks up a problem in one of his blogs.
Interesting, ain't it?
This is a chart to look at regularly, it is the price of Gold over three days. Regularly viewing this chart shows in which market the manipulation is taking place.
Finally for Rob.
Here Eric de Carbonnel speaks about the dangers of Gold ETFs. Many hold no gold, and are secured by Gold derivatives, thus there is a counter part risk.
Note that the providers mentioned, JPM, and Barclays, are members of LBMA, as is HSBC Bank, USA, and as we have seen, JPM and HSBC also deal heavily in Gold derivatives on the short side.
Seems very risky to me. At some point the Banks will probably blow. What then?
The only Gold to hold for investment purposes, is PHYSICAL GOLD.
Take a simple example.
You live in Iceland.
You go to bed on D day, minus one, with your left hand holding 100 units of currency, and your right hand holding gold to the value of 100 units of Icelandic currency.
You wake the following morning, D day.
In your left hand your 100 units of Icelandic currency can only now purchase 20 units of yesterdays Icelandic currency imports.
Your right hand can still purchase 100 units of yesterdays Icelandic imports.
However, your right hand is now worth 5 times yesterdays Icelandic units of currency, and can purchase 5 times yesterdays value of home produced Icelandic goods.
Join the EU for safety, and you lose your only industry to foreign fishing fleets.
Pity no-one thought of owning Gold!
When, not if, devaluation comes to the UK, caused by Browns stupidity, the above scenario will play out. The degree of change will vary, the principle of devaluation, happening slowly now, remains.
GATA is an American action group that has campaigned for a decade against the obvious institutional suppression of the Gold Price. In a recent series of articles they cover the entire Gold suppression scenario, with an explanation that involves corruption at the highest levels of the US administration.
Upon appointment, Clinton was disturbed that bond holders would be rewarded by higher interest rates, which would in turn add costs to his democratic voter base. Robert Rubin advised that they should allow the leasing of Gold by the Central Banks to the Bullion Banks, who would then either use them as backing to short paper Gold, or use it for outright Gold sales. This would have the advantage of depressing the price of Gold, and, since the Bullion Banks would use the profits from shorting, or the receipts from the sale of Gold to invest in Government Bonds, it would also suppress interest rates, so benefiting the Clinton voter base.
The GATA link is here.
And here.
Certain analysts realised three years ago that the leasing and disposal of Central Bank Gold Reserves had been going on for over a decade, and the remaining Central Bank Stocks must be heavily depleted, thus creating a future scarcity of Gold, as they considered that Central Banks would be loath to sell off the remain Gold stocks, thus altering the Global supply paradigm. A future price increase in Gold was therefore anticipated.
Their report is here.
Eric de Carbonnel has been doing some more digging, and seems to have found interesting evidence that the US has no stocks of Gold remaining other than that melted down in the 1930s from confiscated bullion and coins, and is now engaged in bullion swaps with European Central banks, for US gold “in deep storage”, which is assumed to be gold not yet mined but contracted for with US miners on US soil.
Here is the link.
On the face of it, if true, this is political dynamite. National Gold Reserves are regarded as the property of the entire population. There was a loud outcry when Brown last sold part of the UK Gold reserves, in very dubious circumstances for very dubious motives, and against professional advice.
In the current”hunt the banker” atmosphere, if Brown has sold any more Gold reserves, and it can be seen that evil banks have benefited from this sale......... I seriously doubt there will be upcoming audits, just more spin. Nevertheless, the public would also ultimately blame Brown for further Gold mistakes.
(Just as an aside, it's a bit rich that Brown should be chasing and spinning on Bank executive pensions, when he is the one person most credited with the National Destruction of pension schemes by his pension-grab when first elected. And that figure now runs into many £ billions.) And also his total debasement of State Pensions by indexing them to blatantly fraudulent inflation indices.
Paul Volker, (Chair, Group of Thirty) who was responsible for beating inflation in the early eighties is on record as saying that his one regret concerning that era was that he failed to take the measures to cap the price of gold. Gold had jumped to $800/ounce at that time ($2,000 inflation adjusted now). Coincidently, it was Volkers economics that started the massive shift of wealth to the top 1% of the top 10% of the US population, and destroyed the wealth of the US Middles Class over the following years, requiring the increasing levels of credit (debt) that we now see, in an effort to maintain standards of consumption.
The global financial system is far more precarious right now, so we could say that the capping has been successful, but the intended, and unintended consequences of that act have contributed to the ultimate demise of the entire planet.
Tinkering by fools may work in the short term, but in the long term basic forces reassert themselves with a vengeance.
Paul Craig Roberts was Assistant Secretary of the Treasury in the Reagan administration.
"How long can the US government protect the dollar’s value by leasing its gold to bullion dealers who sell it, thereby holding down the gold price? Given the incompetence in Washington and on Wall Street, our best hope is that the rest of the world is even less competent and in even deeper trouble. In this event, the US dollar might survive as the least valueless of the world’s fiat currencies."
Adrian Douglas is a professional markets analyst who writes regularly, and has just completed a major TV interview for Russian Television concerning the Fiat owners suppression of the price of Gold. (I mentioned earlier the Russian Gold deposited in western banks seemed to have vanished, sold or leased away in exchange for an Fiat IOU that is about to be devalued if presented in currency terms).
He has his own website, subscription for professionals, but among the free tempters, he offers are some very interesting PDFs.
One
Two
Three
The interview on Russian TV has not yet been screened, I will try to get a link, or copy of the transcript.
Here it is - not as detailed as I thought it would be.
I find it interesting and depressing that this entire episode of fraud on a global scale goes totally unreported in the western MSM, and where the subject of monetary metals is raised, it is banal reporting matched only by the ignorance/self interest of the interviewees, yet Russian TV is prepared to film in-depth analysis. A real pity they chose not to show more!
Signs of the times!
The prices of the monetary metals, despite assertions to the contrary by the Fiat owners, are a central part of the global monetary/financial/economic system. Their manipulation by the Fiat owners, in order to also affect other system monitoring alarm bells, has played a significant role in the destabilisation of the entire global financial system.
As the Fiat system entered a more dangerous final stage, the suppression of gold and the resultant investment in bonds proved inadequate to hide the alarm bells describing the fiat collapse. Thus the growth of Derivatives, encouraged by Fed support, and its global seeding of financial destruction!
Is California really Blue? Refreshment Break.
Halcyon Days.
Part 5 of the series can be read here.
It says 'written by James Higham' below. Actually, it was written by Sonus but I can't reformat the author in my template.
Part 3 of the series can be read here.
Before going into detail concerning the almost global conspiracy on the part of Fiat currency holders to suppress the price of Gold, it is important to understand the depths of insecurity that Fiat owners exist under. Many millions, probable billions of taxpayers funds have been expended over the years, to this end. This is outright theft. It has no legal mandate.
But it does show the fundamental weakness of Fiat, particularly towards the end of its life-cycle, when administrations are increasingly forced to manipulate every damn economic read-out monitor to convince the electorate of their security.
The senior political class, the MSM, and professional economists become nothing more than bare faced liars.
Greenspan spoke honestly about the characteristics of Gold before he took the Chair of the Federal Reserve Board.
And this article speaks of the total conversion of Greenspan, from an Austrian/von Mises disciple, to a Fiat currency fool whose main tool was verbosity and deception, hidden by increasing levels of debt, off-shoring, manipulated economic statistics, excessive leverage, and manipulated markets. A totally failed economic formula.
The previous two articles show the entire change of mindset that a genuine economist must go through in order to administer the fraudulent Fiat Federal Reserve system.
They must become totally subverted.
However, it is claimed that Greenspan had a motive. It involved his ego. But can an ego really subvert years of intellectual study that had obviously convinced Greenspan of the futility, fragility, and unworkability of a Fiat financial system.
I think not.
Here is a quote:
“But Greenspan was and is a member of the “Council of Foreign Relations”. He was corrupted!!
Greenspan had written a scathing article in the Sixties which attacked the kind of policies the Federal Reserve used to manipulate the economy. That he became Chairman of an institution he so despised put him in position to radically change the financial world. So, it seemed the facts fit the case of an "inside job" on the system to drive it to a state from which it ultimately would crash and splinter to pieces, making it possible to rebuild it in a better way. A truly radical scheme, it seemed, to destroy the Phoenix and then reincarnate it in Greenspan's own image.
But, despite the fact that the anticipated scenario has been playing out on a grand scale, a simpler explanation has come to light now and it makes more sense than the one we had been postulating. The answer comes from Ian Gordon. He writes in “Longwave Analyst:
My deceased friend, Teddy Butler-Henderson, met Alan Greenspan in the 1960's. They apparently discussed the Kondratieff Cycle. According to Teddy, Alan Greenspan confided that he hoped he could be Federal Reserve Chairman at the onset of a Kondratieff winter, because he felt he could defeat winter by substantially increasing the money supply and reducing interest rates to near zero. He had his wish and effected those actions following the 2000 stock market peak.
This effectively put winter on hold but massively compounded already excessive credit to the extent that people who should never have had access to loans were willingly given them. Now the credit bubble that Alan Greenspan initiated is beginning to unwind. The process will be horrific and cannot be reversed. Incidentally, Mr. Greenspan told Teddy during that same conversation that if he failed to thwart the Kondratieff winter, it would make what followed 1929 look like a `Sunday school picnic.' This is what we have to expect.
The above was written almost two years ago. And, we now have a depression greater than that of the Thirties, which is why we call it the Greater Depression. Greenspan had a goal---to eliminate the Kondratieff Winter. But, Alan Greenspan has likely completely destroyed the fabric of the world economic system by trying to avert a Kondratieff winter. His mistake was in assuming that bankers would remain as prudent as they had been in the past, rather than being mesmerized by the new money paradigm Greenspan created.
With interest rates set to zero and money flowing in an endless cascade, all a banker had to do to earn an instant fee was to make a loan to any body warmer than room temperature regardless of income documentation, then securitise the loan to get it off the bank's books. That meant instant gratification and no long term obligation to the banker himself. Greenspan should have realized that bankers are not rational, or even intelligent, creatures. He should have seen them for what they are---lab rats who could be taught to run mazes via cheezy rewards, without any thought to the ultimate consequences of this conditioned response.
This led to the current systemic breakdown we are experiencing today.
Instead of averting a normal Kondratieff winter, Greenspan created a Kondratieff "Ice Age." We will be lucky if this depression ends before 2027. The last depression lasted from 1929-1949, so we may have that long to endure this downturn. But, if the estimate that this is going to be worse than the last one proves correct, that 2027 date may be too optimistic. Of course, in the last depression, the stock market hit bottom less than three years after the depression started and trended higher from 1932, so we won't have to wait until 2027 for the stock market to bottom.”
The author of that quote makes an interesting case, but he forgets that under Greenspan a series of bubbles were blown, and Greenspan always maintained that it was not the job of the Fed to deflate bubbles, after all it was difficult enough to diagnose bubbles before they burst, but the job was to pick up the pieces afterwards.
This main change in Greenspans methods came shortly after his “irrational exuberance” speech, in 1996, after a visit by Mr Rubin. One wonders what was said at their meeting.
After several of these bubbles it must have been obvious, despite Greenspans ego, and outside pressure, to a skilled economist and Fed banker, that serial bubbles were not the answer, and a reversion to intelligent economics would have been the policy. This obviously did not happen, in fact, Greenspan became a cheer-leader for the securitisation of debt and its sale around the globe. He had obviously been corrupted!!
Concerning the details of the developed corruption resulting from free “money”, Karl Denninger speaks his mind.
Well said, Karl.
Let me make the point a little stronger.
As Chairman of the Fed, Greenspan had oversight responsibility for the banks. They were obviously dealing in OTC derivatives of various types. These were totally opaque and unregulated. Banks, allegedly, are regulated bodies, and were thus in breach of their charter. Greenspan not only failed in oversight responsibilities, he was the cheer-leader for their advancement, globally, and as a reasonably intelligent economist would have been perfectly aware of the consequences of a completely derivative based shadow banking system, that is now imploding, and is sucking the REAL WORLD into an economic/financial black hole. J P Morgan balance sheet has $88 Trillion of derivatives, of various types. European clearing banks have a £16.3 Trillion POTENTIAL LOSS, that no-one dare own-up to. Bernanke, as new Fed chairman also has oversight responsibilities. He has also failed to fulfil those responsibilities, by not preventing banks from participating in these instruments.
WHY?
Bernanke was appointed because of his previous published papers concerning central bank actions to get out of, or avoid, a great depression. The current debacle was known, anticipated, years ago! But more, - the current debacle was PLANNED and EXECUTED years ago!
Who are the AIG counter-parties?
Karl Denninger wades in as usual with well made points.
Before the Sub-Prime broke, the XAU, as a proxy for gold miners, was systematically taken down, month after month, when the price of gold was rising rapidly, and the share prices of other non-gold miners was also rising. A completely counter intuitive move.
It was done to counter the anticipated rise in the share price of miners, in a repeat of the late 1970s, (and other actions were taken against Gold), that the upcoming financial collapse would create. Someone had prior knowledge of these events.
Intrepid Rob Kirby explains.
Who could afford to do this? Who would benefit?
Who wanted to avoid the public judgement that the Gold Price delivers on failing Fiat currencies? Logic says it is the “owners” of the Fiat system.
Early in the life of nulab, Chancellor Brown sold off a significant part of the UK gold reserves, deliberately advertising the fact globally, which served to depress the world price further. Significantly, this was round about the time of LTCM troubles, and the Eddie George comment! He currently defends the action as all simpletons do, by asserting that he would do it again, thereby confirming suspicions concerning the logic of his reasoning processes, and his devotion to the Fiat. He was “Bought” very early into his bout as Chancellor!!
Blair now works as a “consultant” for J P Morgan!
Recently Bear Stearns was “taken over” by JPM, with a subsidy from the Fed, of some $30B. During fractious negotiations, which involved the Fed, Geithner, and a few other familiar names, someone omitted to inform Bear that 24 hours later the Fed would be opening a window that would have allowed Bear, an investment bank to borrow from the Fed. Well, hoodathunkit?
Bear was assassinated, because they were long gold. Significantly long. The cancellation of Bear's long, and increased shorting took gold down significantly, another counter intuitive move at a time of financial upheaval.
Once again, Rob Kirby takes up the story.
Understand that JPM is a tool of the Fed. Here is a direct quote:
“The tag team of JP Morgan as the monster and Goldman Sachs as its harlot represent a powerful pair that is more responsible for destroying the entire US financial system than 95% of the American public has any awareness. The colossus of JP Morgan is a monster, a predator, nurtured by pond scum. It has gobbled up Chase Manhattan, Manufacturers Hanover, Chemical Bank, Bank One, and more over the past two decades. Their profound presence in keeping the US Treasury Bond yields down can never be understated. They do so by managing 85% of the credit derivatives on the planet. They distorted usury prices, as in price of borrowed money, thus aggravating the LIBOR (London Inter Bank Offered Rate) market in a very visible manner. The oblong usury prices have contributed mightily to the destruction of the US Economy itself, created bubbles, killed jobs, and wrecked savings.
The ugliest hidden activity for the JP Morgan monster is to manage the Bank of Baghdad, where they manipulate the crude oil price, where drug trafficking money is funnelled from Afghan sales, under management by the US Military aegis (guys with no uniform stripes or markings). Maybe such illicit money offsets Credit Default Swap losses, making America strong for freedom and liberty. Goldman Sachs is clearly the investment banking agent for the US Govt, given the privilege of insider trading in unspeakable proportions. They manage the Plunge Protection Team efforts to intervene in financial markets, making America strong for freedom and liberty. The new kid on the block is the FDIC. The Federal Deposit Insurance Corp is steering fresh meat into the corralled JP Morgan stockyards for slaughterhouse feeding. The label of harlot might be too kind, especially from the perspective of senior bond holders. But JP Morgan requires fresh meat (capital) periodically, thus making America strong for freedom and liberty. Never mind the fires caused after its hearty meals and flatulence.”
“The maze of unscrupulous, devious, and insidious fraudulent business units of JP Morgan is worthy of a 500-page chapter in the US financial history treatise, someday to be written. See the complete distortion of usury costs (interest rates kept low) by JPM, with such a volume of Interest Rate Swaps that was sufficient to run the Bond Vigilantes out of town. Skewed cost of money is the foundation for speculative bubbles. See the management of US Treasury Bonds by JPM on behalf of the Federal Reserve, along with the $2.2 trillion that they sold above and beyond the officially stated US Govt issuance of US Treasury Bonds. That is called counterfeit evidence, the records for which were lost in the third building at the World Trade Centre. See the management by JPM of the Bank of Baghdad. Twice as much money is missing from the Iraq Reconstruction Fund than was stolen by Bernie Madoff, up to $100 billion being estimated. And never overlook the financial tentacles that extend from Afghan operations on the contraband side, to the Bank of Baghdad as the clearing house.”
And speaking of JPM derivatives …
Recently J.P.Morgan announced profits of $5 Billion, on the trading of derivatives of $87 Trillion.
There is no justification for a commercial bank, with regulated depositors' funds insured by the government, to be speculating on a level this great. One also has to wonder who actually 'lost' in those derivatives bets that JP Morgan made, who the counterparties were. How many losses were taken by AIG, Bear Stearns, and Lehman? Who is really being bailed out here? Aren't we paying for JP Morgan's "winnings?" If they speculate and lose, who pays for that? The tax payer. What is a bank doing gambling in unregulated over-the-counter derivatives involving commodities and financial instruments worth $89 Trillion?
This figure dwarfs the GDP of the entire world. Getting paid by the public whether they win or lose it appears. When a single player with deep pockets and government guarantees is placing bets in markets on a scale, that is the very definition of moral hazard. Until the Obama Administration takes strong steps to bring back Glass-Steagall, and put hard limits on the banks there will be no reform and no recovery. The US is 60 ish days into the Obama Administration. There is little or no systemic reform. Just a continuation of crony capitalism under Bernanke, Summers and Geithner.
To return to the main topic, - Notice also that HSBC is the other main holder of derivatives.
And HSBC is a Market Making Member of LBMA, along with a few other familiar names.
The London Bullion Market Association sets the Gold price twice per day, and it is a completely private setting, not open to public sight.
Is the LBMA twice daily setting of the Gold price also deliberately depressed by shorting or central bank selling via Bullion Banks?
Who knows, only the LBMA.
And that is wrong!
Rob Kirby goes further in this link and examines the activities of central banks leasing arrangements. Central banks lease out bullion as a way to suppress the price, knowing that the gold will probably be sold. They would only be confident in doing that if they were confident that the gold could be re-purchased for a lesser price in the future, and returned to them. This arrangement can be lucrative for banks struggling for profitability.
I'll hand over to Rob.
“Gold price suppression is not simply a “paper game” where relentless amounts of price suppressive “futures” can be sold forever; the price suppression scheme also requires that the price riggers expend some physical gold too – to make the ponzi-esque selling of futures “believable.” The physical gold which is mobilized to accomplish this is typically sovereign gold that is “leased” from Central Banks.
Leasing is preferred to outright sales because you can only outright sell something “once” – and it is gone. By leasing, the physical gold leaves the vault to be sold in the open market but Central Banks replace the missing physical gold with an I.O.U - for accounting purposes – and claim that they still posses the same amount of physical bullion! So, by leasing gold instead of “outright sales,” Central Banks can and do double count [cheat] – a la Enron – their gold stocks!”
Yes, they do double count leased out Gold, BUT THE RULES OF THE IMF AND BIS ALLOW IT.
Strange, don't you think?
Is it designed to mislead researchers?
Hyper inflation is a CURRENCY event and moves from deflation where there is a sudden loss of confidence in the currency creating a sudden loss of value, via the exit door., as in Iceland recently.
Eric de Carbonnel is a fine blogger who we will visit shortly, however Rob picks up a problem in one of his blogs.
Interesting, ain't it?
This is a chart to look at regularly, it is the price of Gold over three days. Regularly viewing this chart shows in which market the manipulation is taking place.
Finally for Rob.
Here Eric de Carbonnel speaks about the dangers of Gold ETFs. Many hold no gold, and are secured by Gold derivatives, thus there is a counter part risk.
Note that the providers mentioned, JPM, and Barclays, are members of LBMA, as is HSBC Bank, USA, and as we have seen, JPM and HSBC also deal heavily in Gold derivatives on the short side.
Seems very risky to me. At some point the Banks will probably blow. What then?
The only Gold to hold for investment purposes, is PHYSICAL GOLD.
Take a simple example.
You live in Iceland.
You go to bed on D day, minus one, with your left hand holding 100 units of currency, and your right hand holding gold to the value of 100 units of Icelandic currency.
You wake the following morning, D day.
In your left hand your 100 units of Icelandic currency can only now purchase 20 units of yesterdays Icelandic currency imports.
Your right hand can still purchase 100 units of yesterdays Icelandic imports.
However, your right hand is now worth 5 times yesterdays Icelandic units of currency, and can purchase 5 times yesterdays value of home produced Icelandic goods.
Join the EU for safety, and you lose your only industry to foreign fishing fleets.
Pity no-one thought of owning Gold!
When, not if, devaluation comes to the UK, caused by Browns stupidity, the above scenario will play out. The degree of change will vary, the principle of devaluation, happening slowly now, remains.
GATA is an American action group that has campaigned for a decade against the obvious institutional suppression of the Gold Price. In a recent series of articles they cover the entire Gold suppression scenario, with an explanation that involves corruption at the highest levels of the US administration.
Upon appointment, Clinton was disturbed that bond holders would be rewarded by higher interest rates, which would in turn add costs to his democratic voter base. Robert Rubin advised that they should allow the leasing of Gold by the Central Banks to the Bullion Banks, who would then either use them as backing to short paper Gold, or use it for outright Gold sales. This would have the advantage of depressing the price of Gold, and, since the Bullion Banks would use the profits from shorting, or the receipts from the sale of Gold to invest in Government Bonds, it would also suppress interest rates, so benefiting the Clinton voter base.
The GATA link is here.
And here.
Certain analysts realised three years ago that the leasing and disposal of Central Bank Gold Reserves had been going on for over a decade, and the remaining Central Bank Stocks must be heavily depleted, thus creating a future scarcity of Gold, as they considered that Central Banks would be loath to sell off the remain Gold stocks, thus altering the Global supply paradigm. A future price increase in Gold was therefore anticipated.
Their report is here.
Eric de Carbonnel has been doing some more digging, and seems to have found interesting evidence that the US has no stocks of Gold remaining other than that melted down in the 1930s from confiscated bullion and coins, and is now engaged in bullion swaps with European Central banks, for US gold “in deep storage”, which is assumed to be gold not yet mined but contracted for with US miners on US soil.
Here is the link.
On the face of it, if true, this is political dynamite. National Gold Reserves are regarded as the property of the entire population. There was a loud outcry when Brown last sold part of the UK Gold reserves, in very dubious circumstances for very dubious motives, and against professional advice.
In the current”hunt the banker” atmosphere, if Brown has sold any more Gold reserves, and it can be seen that evil banks have benefited from this sale......... I seriously doubt there will be upcoming audits, just more spin. Nevertheless, the public would also ultimately blame Brown for further Gold mistakes.
(Just as an aside, it's a bit rich that Brown should be chasing and spinning on Bank executive pensions, when he is the one person most credited with the National Destruction of pension schemes by his pension-grab when first elected. And that figure now runs into many £ billions.) And also his total debasement of State Pensions by indexing them to blatantly fraudulent inflation indices.
Paul Volker, (Chair, Group of Thirty) who was responsible for beating inflation in the early eighties is on record as saying that his one regret concerning that era was that he failed to take the measures to cap the price of gold. Gold had jumped to $800/ounce at that time ($2,000 inflation adjusted now). Coincidently, it was Volkers economics that started the massive shift of wealth to the top 1% of the top 10% of the US population, and destroyed the wealth of the US Middles Class over the following years, requiring the increasing levels of credit (debt) that we now see, in an effort to maintain standards of consumption.
The global financial system is far more precarious right now, so we could say that the capping has been successful, but the intended, and unintended consequences of that act have contributed to the ultimate demise of the entire planet.
Tinkering by fools may work in the short term, but in the long term basic forces reassert themselves with a vengeance.
Paul Craig Roberts was Assistant Secretary of the Treasury in the Reagan administration.
"How long can the US government protect the dollar’s value by leasing its gold to bullion dealers who sell it, thereby holding down the gold price? Given the incompetence in Washington and on Wall Street, our best hope is that the rest of the world is even less competent and in even deeper trouble. In this event, the US dollar might survive as the least valueless of the world’s fiat currencies."
Adrian Douglas is a professional markets analyst who writes regularly, and has just completed a major TV interview for Russian Television concerning the Fiat owners suppression of the price of Gold. (I mentioned earlier the Russian Gold deposited in western banks seemed to have vanished, sold or leased away in exchange for an Fiat IOU that is about to be devalued if presented in currency terms).
He has his own website, subscription for professionals, but among the free tempters, he offers are some very interesting PDFs.
One
Two
Three
The interview on Russian TV has not yet been screened, I will try to get a link, or copy of the transcript.
Here it is - not as detailed as I thought it would be.
I find it interesting and depressing that this entire episode of fraud on a global scale goes totally unreported in the western MSM, and where the subject of monetary metals is raised, it is banal reporting matched only by the ignorance/self interest of the interviewees, yet Russian TV is prepared to film in-depth analysis. A real pity they chose not to show more!
Signs of the times!
The prices of the monetary metals, despite assertions to the contrary by the Fiat owners, are a central part of the global monetary/financial/economic system. Their manipulation by the Fiat owners, in order to also affect other system monitoring alarm bells, has played a significant role in the destabilisation of the entire global financial system.
As the Fiat system entered a more dangerous final stage, the suppression of gold and the resultant investment in bonds proved inadequate to hide the alarm bells describing the fiat collapse. Thus the growth of Derivatives, encouraged by Fed support, and its global seeding of financial destruction!
Is California really Blue? Refreshment Break.
Halcyon Days.
Part 5 of the series can be read here.
It says 'written by James Higham' below. Actually, it was written by Sonus but I can't reformat the author in my template.
Sunday, March 22, 2009
Subscribe to:
Posts (Atom)