Infinite Unknown

The financial events of recent weeks have filled many of us with shock and panic. Surely no one could have predicted that we would be in this mess? Well, actually, they did. Here are ten people who saw the financial meltdown coming…

1. Vince Cable - deputy leader of the Liberal Democrats

Here is a question Mr Cable’s posed to Gordon Brown, then Chancellor, during Treasury Questions back in November 2003: “The growth of the British economy is sustained by consumer spending pinned against record levels of personal debt, which is secured, if at all, against house prices that the Bank of England describes as well above equilibrium level. What action will the Chancellor take on the problem of consumer debt?”

Mr Brown did not answer how he would solve the problem, merely replying that: “We have been right about the prospects for growth in the British economy, and the hon. Gentleman (Mr. Cable) has been wrong.”

2. Christopher Wood - chief strategist of CLSA, a broking firm in the Asia-Pacific Market.

In October 2005 Mr Wood wisely declared: “Investors should sell all exposure to the American mortgage securities market.” In an interview in 2007, he said: “Some institutions have been behaving like leveraged speculators rather than banks… The UK economy is heading for a sharp shock. It just remains to be seen how bad.”

3. Founders of www.stock-market-crash.net - website aimed at investors

The writers of this site claim that predicting crashes is, in fact, easy: “One of the greatest myths of all time is that market crashes are random, unpredictable events. The lead up to a market crash is often years in the making. Certain warning signs exist, which characterize the end of a bull market and the start of a bear market. By learning these common warning signs, you can liquidate your investments and prosper by shorting the market.”

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Tags: Bank of England, Credit Crisis, credit crunch, Economy, Fannie Mae, financial crisis, Freddie Mac, Gordon Brown, Government, mortgage crisis, Mortgages, Nouriel Roubini, Politics, Ron Paul, Stock Market, U.S.

Related: Zeitgeist, The Movie, Final Edition

Added: Oct 3, 2008

Source: Google Video

Tags: bankruptcy, Banks, Barack Obama, Church, CIA, Congress, corporations, crime, debt, Documentary, Dollar, Economy, election, Fascism, Fed, Federal Reserve, Government, Iraq, Jiddu Krishnamurti, John McCain, John Perkins, Military, New World Order, Nuclear weapons, Oil, Politics, Religion, Ron Paul, Saddam Hussein, Society, U.S., War

Added: Oct. 5, 2008

Source: YouTube

Tags: bailout, Credit Crisis, credit crunch, debt, Economy, Government, mortgage crisis, Mortgages, Politics, Ron Paul, U.S.

Added: Sept. 29, 2008

Source: YouTube

Tags: bailout, Congress, Economy, Government, Politics, Ron Paul, U.S.

Ron Paul on Fox Business

Source: YouTube

Tags: bailout, Banks, Constitution, Credit Crisis, credit crunch, Depression, Dollar, Economy, Fannie Mae, Fed, Federal Reserve, Freddie Mac, Government, Great Depression, Inflation, Jim Rogers, mortgage crisis, Mortgages, Politics, Ron Paul, Stock Market, taxpayers, Treasury, U.S., Wall Street

Source: YouTube

Wednesday, September 24, 2008

Dear Friends,
Whenever a Great Bipartisan Consensus is announced, and a compliant media assures everyone that the wondrous actions of our wise leaders are being taken for our own good, you can know with absolute certainty that disaster is about to strike.
The events of the past week are no exception.
The bailout package that is about to be rammed down Congress’ throat is not just economically foolish. It is downright sinister. It makes a mockery of our Constitution, which our leaders should never again bother pretending is still in effect. It promises the American people a never-ending nightmare of ever-greater debt liabilities they will have to shoulder. Two weeks ago, financial analyst Jim Rogers said the bailout of Fannie Mae and Freddie Mac made America more communist than China! “This is welfare for the rich,” he said. “This is socialism for the rich. It’s bailing out the financiers, the banks, the Wall Streeters.”
That describes the current bailout package to a T. And we’re being told it’s unavoidable.
The claim that the market caused all this is so staggeringly foolish that only politicians and the media could pretend to believe it. But that has become the conventional wisdom, with the desired result that those responsible for the credit bubble and its predictable consequences - predictable, that is, to those who understand sound, Austrian economics - are being let off the hook. The Federal Reserve System is actually positioning itself as the savior, rather than the culprit, in this mess!

• The Treasury Secretary is authorized to purchase up to $700 billion in mortgage-related assets at any one time. That means $700 billion is only the very beginning of what will hit us.
• Financial institutions are “designated as financial agents of the Government.” This is the New Deal to end all New Deals.
• Then there’s this: “Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency.” Translation: the Secretary can buy up whatever junk debt he wants to, burden the American people with it, and be subject to no one in the process.

There goes your country.
Even some so-called free-market economists are calling all this “sadly necessary.” Sad, yes. Necessary? Don’t make me laugh.
Our one-party system is complicit in yet another crime against the American people. The two major party candidates for president themselves initially indicated their strong support for bailouts of this kind - another example of the big choice we’re supposedly presented with this November: yes or yes. Now, with a backlash brewing, they’re not quite sure what their views are. A sad display, really.
Although the present bailout package is almost certainly not the end of the political atrocities we’ll witness in connection with the crisis, time is short. Congress may vote as soon as tomorrow. With a Rasmussen poll finding support for the bailout at an anemic seven percent, some members of Congress are afraid to vote for it. Call them! Let them hear from you! Tell them you will never vote for anyone who supports this atrocity.
The issue boils down to this: do we care about freedom? Do we care about responsibility and accountability? Do we care that our government and media have been bought and paid for? Do we care that average Americans are about to be looted in order to subsidize the fattest of cats on Wall Street and in government? Do we care?
When the chips are down, will we stand up and fight, even if it means standing up against every stripe of fashionable opinion in politics and the media?
Times like these have a way of telling us what kind of a people we are, and what kind of country we shall be.
In liberty,
Ron Paul

Tags: bailout, Banks, Constitution, Credit Crisis, credit crunch, Depression, Dollar, Economy, Fannie Mae, Fed, Federal Reserve, Freddie Mac, Government, Great Depression, Inflation, Jim Rogers, mortgage crisis, Mortgages, Politics, Ron Paul, Stock Market, taxpayers, Treasury, U.S., Wall Street

A New Alliance - By Dr. Ron Paul

The press conference at the National Press Club had a precise purpose. It was to expose, to as many people as possible, the gross deception of our presidential election process. It is controlled by the powerful elite to make sure that neither candidate of the two major parties will challenge the status quo. There is no real choice between the two major parties and their nominees, only the rhetoric varies. The amazingly long campaign is designed to make sure the real issues are ignored. The quotes I used at the press conference from insider Carroll Quigley and the League of Women voters strongly support this contention.

Calling together candidates from the liberal, conservative, libertarian and progressive constituencies, who are all opposed to this rigged process, was designed to alert the American people to the uselessness of continuing to support a process that a claims that one’s only choice is to choose the lesser of two evils and reject a principle vote that might challenge the status quo as a wasted vote.

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Tags: civil liberties, Constitution, election, Fed, Federal Reserve, Government, Politics, Ron Paul, U.S.

By Ron Paul
Special to CNN

Rep. Ron Paul says the government’s solution to the crisis is the same as the cause of it — too much government.

(CNN) — Many Americans today are asking themselves how the economy got to be in such a bad spot.

For years they thought the economy was booming, growth was up, job numbers and productivity were increasing. Yet now we find ourselves in what is shaping up to be one of the most severe economic downturns since the Great Depression.

Unfortunately, the government’s preferred solution to the crisis is the very thing that got us into this mess in the first place: government intervention.

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Tags: AIG, bailout, Banks, Congress, Economy, Fannie Mae, Fed, Federal Reserve, Freddie Mac, Government, Great Depression, mortgage crisis, Mortgages, Politics, Ron Paul, taxpayers, Treasury, U.S.

Have a look at the related articles from the Jerusalem Post:

“Column One: Israel must bomb Iran’s nuclear installations”

Warmongers ahead!?

Israel has according to Jimmy Carter around 150 nuclear weapons. Even if Iran wants to develop a nuclear weapon, is this reason enough for an attack? If so, then maybe someone should have been attacking Israel for developing 150 of them. And not just Israel is beating the war drums: Ron Paul: I hear members of Congress saying “if we could only nuke Iran”.

So Israel and/or the US might nuke Iran to prevent Iran from developing a nuclear weapon? How can you even come up with such madness? Are there so many potential Hitlers walking the face of the earth these days?

The US have told Israel recently several times not to attack Iran, but that could be just a ruse. And who sold Israel just recently 1000 smart bombs? ‘U.S. to sell Israel Air Force smart bombs for heavily fortified targets’

Politicians and military ‘experts’ may call this a ’surgical strike’, but any attack on Iran will cause WW III. Basta!
___________________________________________________________________________

Sep 22, 2008 0:05 | Updated Sep 22, 2008 15:53
Source: The Jerusalem Post

Military intelligence: Iran halfway to first nuclear bomb

Iran is halfway to a nuclear bomb, and Hizbullah, Hamas and Syria are using this period of relative calm to significantly rearm, Brig.-Gen. Yossi Baidatz, the Military Intelligence’s head of research, told the cabinet Sunday during a particularly gloomy briefing on the threats facing the country.

Ahmadinejad: We’ll stop any attacker

Baidatz said there was a growing gap between Iran’s progress on the nuclear front and the West’s determination to stop it. “Iran is concentrating on uranium enrichment, and is making progress,” he said, noting that they have improved the function of their 4,000 centrifuges.

According to Baidatz, the Iranian centrifuges have so far produced between one-third to one-half of the enriched material needed to build a bomb.

“The time when they will have crossed the nuclear point-of-no-return is fast approaching,” he said, though he stopped short of giving a firm deadline. Last week in the Knesset’s Foreign Affairs and Defense Committee, however, he put the date at 2011.

RELATED

• Column One: Israel must bomb Iran’s nuclear installations
• Analyze This: How partisan politics is dirtying the US consensus on Teheran

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Tags: Government, Hamas, Hizbullah, IAEA, Iran, Iraq, Israel, Mahmoud Ahmadinejad, Military, Nuclear weapons, Politics, Ron Paul, U.N.

Paulson, Bernanke, and Congress are conspiring to make the US taxpayer the fall guy for financial stupidity by banks and brokers. Congress is now willing to ram through legislation at the last moment, even though Senate Majority Leader Reid Says “No One Knows What to Do”.

Please consider Paulson, Bernanke Push New Proposal to Cleanse Balance Sheets (at taxpayer expense).

U.S. Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben S. Bernanke proposed moving troubled assets from the balance sheets of American financial companies into a new institution.

Congressional leaders who met with Paulson and Bernanke late yesterday in Washington said they aim to pass legislation soon. The initiative, which may also insure money-market funds, is aimed at removing the devalued mortgage-linked assets at the root of the worst credit crisis since the Great Depression.

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Tags: Banks, Ben Bernanke, Congress, corporations, Credit Crisis, credit crunch, Economy, Fannie Mae, Fed, Federal Reserve, Freddie Mac, Government, Great Depression, Henry Paulson, Lehman Brothers, mortgage crisis, Mortgages, Politics, Ron Paul, taxpayers, Treasury, U.S., Wall Street