Nov 14

For your information.

The elitists vs. the people.



YouTube Added: 13.11.2011

For more information: Thrive

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Oct 25

Flashback:

- JPMorgan Employee Who Invented Credit Default Swaps is One of the Key Architects of Carbon Derivatives, Which Would Be at the Very CENTER of Cap and Trade


- The Coming Derivatives Crisis That Could Destroy The Entire Global Financial System (The Economic Collapse, Oct. 19th, 2011):

Most people have no idea that Wall Street has become a gigantic financial casino.  The big Wall Street banks are making tens of billions of dollars a year in the derivatives market, and nobody in the financial community wants the party to end.  The word “derivatives” sounds complicated and technical, but understanding them is really not that hard.  A derivative is essentially a fancy way of saying that a bet has been made.  Originally, these bets were designed to hedge risk, but today the derivatives market has mushroomed into a mountain of speculation unlike anything the world has ever seen before.  Estimates of the notional value of the worldwide derivatives market go from $600 trillion all the way up to $1.5 quadrillion. Keep in mind that the GDP of the entire world is only somewhere in the neighborhood of $65 trillion.  The danger to the global financial system posed by derivatives is so great that Warren Buffet once called them “financial weapons of mass destruction”.  For now, the financial powers that be are trying to keep the casino rolling, but it is inevitable that at some point this entire mess is going to come crashing down.  When it does, we are going to be facing a derivatives crisis that really could destroy the entire global financial system.

Most people don’t talk much about derivatives because they simply do not understand them.

Perhaps a couple of definitions would be helpful.

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Oct 07

NOTHING HAS CHANGED …

… except that the situation is getting much, much worse.

Related info:

Elite Puppet Central Banksters To Bailout Elite Puppet Banksters Worldwide

Quantitative easing =  printing money = creating money out of thin air = increasing the money supply = inflation = hidden tax on monetary assets = theft!

Deficit spending and quantitative easing are policies designed to destroy the middle class and the poor and to benefit the elitists.

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

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

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

‘The Mervy King’ ‘nuked’ the UK with quantitative easing before:

- Bank of England extends quantitative easing to £200 billion (Guardian)

Expect more ‘fallout’ like this, because he will do it again:

- UK: Shock Rise In Unemployment – Inflation Hits 4 Percent, Double The Government’s Target

- UK: Why Our Purchasing Power Is Set To Suffer The Biggest Squeeze Since 1870

And yes, the central banksters know what they are doing:

- On Mervyn King’s Apology That Central Banks Are Destroying The Middle Class’ Standard Of Living

Just exchange the Fed with the BoE and ‘THE BEN BERNANK’ with ‘THE MERVY KING’ and watch this:

- Quantitative Easing Explained

Got physical gold and silver?

Prepare for collapse.

This is the ‘Greatest Depression’.



- World facing worst financial crisis in history, Bank of England Governor says (Telegraph, Oct. 6, 2011):

Sir Mervyn King was speaking after the decision by the Bank’s Monetary Policy Committee to put £75billion of newly created money into the economy in a desperate effort to stave off a new credit crisis and a UK recession.

Economists said the Bank’s decision to resume its quantitative easing [QE], or asset purchase programme, showed it was increasingly fearful for the economy, and predicted more such moves ahead.

Sir Mervyn said the Bank had been driven by growing signs of a global economic disaster.

“This is the most serious financial crisis we’ve seen, at least since the 1930s, if not ever. We’re having to deal with very unusual circumstances, but to act calmly to this and to do the right thing.”

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Sep 05

Recommended ‘extensive roundup’ here:

- Full-Blown Civil War Erupts On Wall Street: As Reality Finally Hits The Financial Elite, They Start Turning On Each Other (AmpedStatus, Sep 3, 2011):

Finally, after trillions in fraudulent activity, trillions in bailouts, trillions in printed money, billions in political bribing and billions in bonuses, the criminal cartel members on Wall Street are beginning to get what they deserve. As the Eurozone is coming apart at the seams and as the US economy grinds to a halt, the financial elite are starting to turn on each other. The lawsuits are piling up fast. Here’s an extensive roundup:

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Aug 26


Obama bin Bush: Mission accomplished!

- Obama Goes All Out For Dirty Banker Deal (Matt Taibbi, Rolling Stone, August 24, 2011):

A power play is underway in the foreclosure arena, according to the New York Times.

On the one side is Eric Schneiderman, the New York Attorney General, who is conducting his own investigation into the era of securitizations – the practice of chopping up assets like mortgages and converting them into saleable securities – that led up to the financial crisis of 2007-2008.

On the other side is the Obama administration, the banks, and all the other state attorneys general.

This second camp has cooked up a deal that would allow the banks to walk away with just a seriously discounted fine from a generation of fraud that led to millions of people losing their homes.

The idea behind this federally-guided “settlement” is to concentrate and centralize all the legal exposure accrued by this generation of grotesque banker corruption in one place, put one single price tag on it that everyone can live with, and then stuff the details into a titanium canister before shooting it into deep space.

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Aug 07

- Joint Statement From Merkel And Sarkozy On Global Financial Crisis (ZeroHedge, Aug 7, 2011):

Below is the full text of the joint French-German statement attempting to prevent another European market collapse. Next up are comparable statements from the ECB and from theG7. We expect many more before the night is out.

Following is the full text of a joint statement issued on Sunday by German Chancellor Angela Merkel and French President Nicolas Sarkozy on measures to tackle the euro zone debt crisis.

President Sarkozy and Chancellor Merkel reiterate their commitment to fully implement the decisions taken by the heads of state and government of the euro area and the EU institutions on July 21st 2011.

In particular, they stress the importance that parliamentary approval will be obtained swiftly by the end of September in their two countries.

They welcome the recent measures announced by Italy and Spain with regard to faster fiscal consolidation and improved competitiveness. Especially the Italian authorities’ goal to achieve a balanced budget a year earlier than previously envisaged is of fundamental importance. They stress that complete and speedy implementation of the announced measures is key to restore market confidence.

As decided on July 21st, the effectiveness of the EFSF will be improved and its flexibility increased linked to appropriate conditionality, in particular through the following instruments: precautionary program, finance recapitalization of financial institutions and to intervene in secondary markets on the basis of an ECB analysis recognizing the existence of exceptional financial market circumstances and risks to financial stability and on the basis of a decision by mutual agreement of the member states, in order to avoid contagion.

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Jun 11

- ‘US Is Nearing Even Worse Financial Crisis: Jim Rogers (CNBC, June 8 2011):

The U.S. is approaching a financial crisis worse than 2008, Jim Rogers, chief executive, Rogers Holdings, warned CNBC Wednesday.

“The debts that are in this country are skyrocketing,” he said. “In the last three years the government has spent staggering amounts of money and the Federal Reserve is taking on staggering amounts of debt.

“When the problems arise next time…what are they going to do? They can’t quadruple the debt again. They cannot print that much more money. It’s gonna be worse the next time around.”

The well-known investor believes the government won’t shut down in August if agreement isn’t reached on raising the debt ceiling, but he did say “draconian cuts” are needed in taxes and spending, especially military spending.

“We’ve got troops in 150 countries around the world. They’re not doing us any good, they’re making enemies. They’re costing us a fortune,” he said.

Rogers said he is “not long anything in the U.S.” and short on American tech stocks. He owns Chinese stocks as well as commodities and would love the world price of silver and gold to come down so he could “pick up the phone and buy more.”

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Jun 01

- Another Crisis ‘Around The Corner’: Mobius (Bloomberg, May 30, 2011):

Mark Mobius, executive chairman of Templeton Asset Management’s emerging markets group, said another financial crisis is inevitable because the causes of the previous one haven’t been resolved.

“There is definitely going to be another financial crisis around the corner because we haven’t solved any of the things that caused the previous crisis,” Mobius said at the Foreign Correspondents’ Club of Japan in Tokyo today in response to a question about price swings. “Are the derivatives regulated? No. Are you still getting growth in derivatives? Yes.”

The total value of derivatives in the world exceeds total global gross domestic product by a factor of 10, said Mobius, who oversees more than $50 billion. With that volume of bets in different directions, volatility and equity market crises will occur, he said.

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May 05

Don’t blame American appetites, rising oil prices, or genetically modified crops for rising food prices. Wall Street’s at fault for the spiraling cost of food.



Demand and supply certainly matter. But there’s another reason why food across the world has become so expensive: Wall Street greed.

It took the brilliant minds of Goldman Sachs to realize the simple truth that nothing is more valuable than our daily bread. And where there’s value, there’s money to be made. In 1991, Goldman bankers, led by their prescient president Gary Cohn, came up with a new kind of investment product, a derivative that tracked 24 raw materials, from precious metals and energy to coffee, cocoa, cattle, corn, hogs, soy, and wheat. They weighted the investment value of each element, blended and commingled the parts into sums, then reduced what had been a complicated collection of real things into a mathematical formula that could be expressed as a single manifestation, to be known henceforth as the Goldman Sachs Commodity Index (GSCI).

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Mar 04

Paul Craig Roberts was Assistant Secretary of the Treasury during President Reagan’s first term. He was Associate Editor of the Wall Street Journal. He has held numerous academic appointments, including the William E. Simon Chair, Center for Strategic and International Studies, Georgetown University, and Senior Research Fellow, Hoover Institution, Stanford University.

paul-craig-roberts

This essay is about three recent books that explain how we lost our economy, the Constitution and our civil liberties, and how peace lost out to war.

Matt Taibbi is the best–certainly the most entertaining–financial/political reporter in the country. There is no better book than Griftopia (2010) to which to turn to understand how stupidity, greed, and criminality, spread evenly among policymakers and Wall Street, created the financial crisis that has left Americans overburdened with both private and public debt. Taibbi walks the reader through the fraudulent financial instruments that littered the American, British, and European financial communities with toxic waste. He has figured it all out, and what in other hands might be an arcane account for MBAs is in Taibbi’s hands a highly readable and entertaining story.


Amazon.com: Griftopia: Bubble Machines, Vampire Squids, and the Long Con That Is Breaking America

Amazon.de: Griftopia: Bubble Machines, Vampire Squids, and the Long Con That Is Breaking America

For the first 65 pages Taibbi entertains the reader with the inability of the public and politicians to focus on any reality. The financial story begins on page 65 with Fed chairman Alan Greenspan undermining the Glass-Steagall Act leading to its repeal by three political stooges, Gramm-Leach-Bliley. This set the stage for the banksters to leverage debt upon debt until the house of cards collapsed. When Brooksley Born, head of the Commodity Futures Trading Commission, attempted to do her regulatory job and regulate derivatives, the Federal Reserve, Treasury, and Securities and Exchange Commission got her bounced out of office. To make certain that no other regulator could protect the financial system and its participants from what was coming, Congress deregulated the derivatives markets by passing the Commodity Futures Modernization Act.

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