◄$$$ CORRECTION ON AMMUNITION $$$. My
April report has been corrected by a subscriber on some gun/ammunition
information, in two respects. Many efforts are indeed underway to prevent
the police and USMilitary from being targeted
and killed by urban citizens in defiance. This could occur before or
after a period of martial law imposition. Hundreds of thousands could
be slaughtered after full scale riots begin, in my opinion. My report
stated that a project exists to put ID on bullets. That bill was defeated
a few years ago and has been proposed once more now. Let it be known
that RFID (radio frequency identification) on bullets is a technology
not yet available. Also, the USDept Defense
ordered a block of recycling for spent used brass bullet casing shells,
but the USSenate overturned the order within
days. The USCongress makes the laws, not the
Pentagon (at least until martial law is imposed). The subscriber pointing
out the correction advised to look for verification information on the National
Rifle Assn (NRA) website, a good source of accurate news (CLICK HERE). On
a related topic, another person informed me that in WashingtonDC,
a bill has been proposed for newly manufactured ammunition sold to the
public. Under the proposal, manufacturers will make bullets with caps
that fail to fire properly after two years. The new bill would become
effective in 2011, not yet law.
◄$$$ ISLAM WILL TAKE CONTROL VIA DEMOGRAPHICS $$$. The world is
experiencing tremendous demographic changes, in particular Europe.
The Islamic segment is fast overtaking the natives, especially in France. Nature dictates that
a stable culture can sustain itself through majority numbers only if
its fertility rate is at least 2.1 per family. The man & woman must
replace themselves and a little more. The European Union (31 nations)
has a 1.38 fertility rate, woefully inadequate to sustain itself. Thus
in a few decades, the EU nations will certainly undergo a radical shift
in demographics, whereby the native core group will fade away. The Europeans
and French in particular run the risk of seeing a Moslem majority in
future years. The fertility rates across Europe are low, like 1.8 in France,
1.6 in England, 1.3
in Greece, 1.3 in Germany,
1.2 in Italy, and
1.1 in Spain. Both immigration and
higher birth rates result in a tremendous growth for Moslems. In Europe
since 1990, over 90% of immigrants have been Moslem. Nowhere is the trend
more pronounced than in France. Its Moslem fertility
rate is an astounding 8.1, almost 5x greater than the national average.
In Southern France, mosques outnumber churches routinely.
Over 30% of the French population under 20 years of age is Moslem. In
over half of new babies are Moslem, certain to yield a new majority within
15 years. In Belgium 25%
of the population is Moslem, but 50% of new babies are Moslem. The European
continent has 52 million Moslem inhabitants now, a number expected to
double within 20 years. The Vatican reports
that in recent months, the Islamic population worldwide has now exceeded
the Catholic population. In fact, within five to seven years, Islam will
be the dominant religion in the world, at least in sheer numbers. As
footnote, the US fertility
rate is only 1.6, but higher at 2.11 with Latinos. The Canadian fertility
rate is 1.6, which ensures that the US and Canadian cultures are fast
losing dominance. See a video clip (CLICK HERE). See an interesting world odometers for population, economics,
media, environment, food, water, energy, health (CLICK HERE).
SWINE FLU, NATURE OR GENOCIDE?
◄$$$ SWINE FLU SOURCES REEK WITH SUSPICION $$$. This is a topic
difficult to be purely objective about, since we are all placed at risk
if a pandemic spreads across several continents. Any intentional dissemination
is pure genocide and heinous in its crime. For years, information about
influenza research designed and created as weapons has circulated. The USMilitary has
a wide variety of exotic weapons, and huge budgets to develop them. At
the same time, information about a sinister group desiring a severe reduction
in world population has also circulated; they capture my attention. However,
in the last year, accounts have escalated. Nobody can prove motive, but
timing has always been linked to the ruin of the Great Empire under the United States and United Kingdom rule. The word is that the US-UK,
in particular the Trilateral Commission folks, and the Bilderberger folks, wish to change the chessboard into a
framework that they can dominate. My sources are clearly incomplete,
but they are as diverse as they are disturbing. Nothing has caused me
more personal inner worries than influenza pandemic in my entire lifetime.
What follows is a mix of my beliefs, conclusions, and expectations, combined
with information from very well informed experts coming from both the
banking and military arenas. People should do their own research, reach
conclusions, and take protection as they see fit. Mine is not a comprehensive
treatment of the controversial and volatile subject. My hope is to provide
a useful framework to give many facades some exposure. My personal background
is not only math, statistics, and economics, but also chemistry, biology,
physics, astronomy, and pharmacology. A bizarre twist involves precious
metals. Not only would funds flee into gold & silver during a panic,
but certain silver treatments (ionic silver, even colloidal silver)
have been proved effective in killing even dangerous viruses.
The strain of Swine Flu spreading around Mexico,
the United States, and Europe,
along with certain other locations, is not a natural mutation. Nature
has no mechanism for a virus to contain chromosomal characteristics linked
to multiple species, a fact never in dispute by biologists and medical
professionals! Nature does not permit the mix of species, only of cousins
within species. This Swine Flu has links to swine, birds, and humans
in its genetic makeup. Only one explanation carries any credence and
weight whatsoever. This flu strain was produced in laboratories. For
years the USMilitary has been involved in research
to produce advanced forms of viruses, available for usage as weapons.
Of course, in defense of liberty and to keep America secure. Does anyone
find it curious that immediately after the Tea Parties gathered some
momentum nationwide in the United
States, forcing attention to high taxes and overbearing USGovt authorities,
that the Swine Flu outbreak occurred? The movement is stopped in
its tracks, as public gatherings are suddenly discouraged. The Tea Parties
next round of demonstrations is planned to focus on bankers, their fraud,
and their cause for financial misery to US citizens!!!
◄$$$ THE BIG PICTURE AROUSES GREAT SUSPICION $$$. In order to
obtain a better perspective on the topic of influenza, one must step
back and observe a sequence of diverse events over several years. Let’s
begin back a few years ago and work forward.
years 2001 to 2005, a total of 40 American micro-biologists met
with unusual deaths. They were all violent, mysterious, and worthy
of police investigation. They included jumping off bridges, car wrecks,
hangings, and much more. They had all left their conventional job posts
and worked on some ‘hush hush’ official projects, according to family
members. The projects related to bio-terrorism, influenza epidemics,
the last few years it has become widespread knowledge that the USMilitary Microbe Labs have been working on intensive USGovt projects
to produce weaponized viruses. Their
work has a ratcheted progressive element to it, in that as new strains
are encountered, they can successively be layered to produce exponentially
more powerful strains of viruses. The dead micro-biologists probably
were involved with the CIA virus research located in Fort Dietrich Maryland. Reports have come that
corpses buried in Alaskan military facilities had been exhumed, where
1918 Influenza victims were stored. Use the word ‘store’ rather than ‘bury’ since Alaska
is more a freezer (preservation) than a cemetery (decomposition). Virus
samples were extracted from Alaska.
Federal Emergency Mgmt Agency has oversight in official epidemic reaction. FEMA
strangely ordered a few million plastic coffins in 2006. The
request perplexed the USCongress, which received
no sensible reasonable explanation for the need. Plastic coffins are
much cheaper for mass burials, and they can be hermetically sealed. The
public has stirred up many questions on the need also, along with websites.
2004, the Iraq Reconstruction
(slush) Fund directed $2.3 billion to Henry Kissinger to continue
his fine work. He is a principal architect and spokesman for the secret
project to reduce the world population by at least 50%, and possibly
by 90%. His designs are consistent with the Gladstone Project. The Iraqi
Fund has $50 billion reportedly missing, so the allocation to Kissinger
is part of many improper usages.
weeks after President Obama visited Mexico
City, a virulent Swine Flu outbreak occurred. Obama arrived
along with 100 in his diplomatic and security entourage, for meetings
with the Mexican Govt and their security
agencies. They had a broad agenda, which included discussions for
strategy to fight the flow of weapons and drugs across the US border
dignitaries have openly discussed the merits of reduced global population. They
exhibit absolutely no concern over deaths on a massive scale, absent
consciences. The list includes Prince Philip of England, Henry Kissinger, Ned Rockefeller, and
former VP Dick Cheney, in addition to dozens of others with similar
◄$$$ VACCINE MAKERS MUST BE GIVEN GREAT SCRUTINY $$$. One should
cast great suspicion on vaccine makers, since they harbor the greatest
potential motives, PROFIT and FAME from cure. Last February, Baxter Labs
in Austria was
in the cross hairs of attention. Baxter distributed active avian flu
virus to twelve nations in the form of vaccines, a claimed accident. Such ‘accidents’ are
inconceivable when biohazard protocols are used, by legal requirements.
The Canadian authorities halted the spread and raised attention to the
incident. Baxter is in the business of producing vaccines for eventual
sale in grand revenue streams. Imagine giving a person the actual virus
when expecting to provide protection. That was three months ago, again
an event forgotten by the news networks as the best preface imaginable.
Vaccine makers are often large pharmaceutical firms. They have a difficult
task. In order to make their vaccines as potent as possible, they
must incorporate diverse viruses into their design and layered sequences. The
more viruses that contribute the specific vaccine, the more potency the
new vaccine has for protection. In the process, however, the vaccine
makers are in possession of extremely dangerous and possibly deadly virus
strains, kept in guarded sealed cabinets. So if an observer asks the
simple question of what party has the virus in possession, the answer
is simply the vaccine makers. Also, vaccine makers are assisted by the
various centers for disease control. The US office
is in Atlanta. Every major nation
has such an disease control center. Cooperation
exists on a routine basis between these disease monitor and test centers
and the vaccine makers, so that they can make the best possible vaccines.
This invites collusion.
Profit is a natural motive for distributing the virus disease. Vaccine
makers stand to profit in the billion$ if their particular vaccine is
required on a mass scale, since their particular vaccine is designed
for treatment against that virus infecting the public. This direct linkage
seems to escape the media networks and legal authorities for a short
list of suspects. The authorities in knee-jerk fashion call the outbreaks
natural. Dr Leonard Horowitz provides a detailed argument against Novavax in Europe, and its medical doctor
CEO. Their lab has worked with the Atlanta Center for Disease Control, as some
suspicious events have taken place. Check out his warning and exposure
of the scummy relationships involved (CLICK HERE). In my view, these
are criminals at work. It is possible that this current Swine Flu event
is only a prelude, to condition the public, to gather stronger mutations
of the virus, and to construct a more powerful strain later.
How would such a virus be distributed, like in Mexico
City? The easiest methods are the simplest methods, surely pernicious.
The medical industry every day and every week distributes hundreds of
thousands of vials for injection, like for penicillin, tetanus, cortisone,
insulin, morphine, vitamins, numerous vaccines, and other drug treatments.
They are all legitimate. My conjecture is that 1% to 3% might contain
virus infection organisms for areas targeted, like Mexico
City. The Swine Flu was not a naturally occurring event. The distraction
event was to report (whether actual or not) a simultaneous or preceding
event in Southern California for a slight variation
of the Swine Flu. The virus in question cannot be put on park benches,
subway railings, department store doors, and public water fountains for
dissemination. Virus cannot survive in an open environment like that.
Some mainstream folks actually believe the vaccines accidentally contain
active viruses, not by intention, and cannot be ruled out as the source.
This is pure nonsense. Those in mainstream also claim that the Swine
Flu can originate from farms, where livestock live in unsanitary unsavory
conditions. This is also nonsense, disputed by biologist professionals
who point out the unique strain must come from an advanced laboratory.
The new networks do NOT touch this subject at all, since it is so damning
◄$$$ CONDITIONS IN TEXAS ARE WORSE THAN REPORTED $$$. The US news
media is following the directives of the USGovt authorities,
probably FEMA and Homeland Security, which intend to minimize the problem
and avoid any panics. The public will continue to be kept in the dark,
to a large extent. In my view, Mexico is
Ground Zero, both Mexico City and the popular resort Cancun.
No other resort south of the border has been implicated or identified
as a source.
Dr Marcus Gitterle is an emergency medicine
physician based out of New Braunfels Texas,
a town east of San Antonio. He sent out an e-mail alert to his
many patients, which contains several stunning claims about Swine Flu.
He believes that officials have sought to keep information from the public.
My access to his note came on May 2nd. He wrote:
“The actual number of confirmed cases of Swine flu is 10 to 25 times
worse than has been reported. People are not recovering easily, as
has been claimed. Many Americans are in fact seriously ill. Quick access
to drugs like Tamiflu and Relenza,
as well as ventilators, is preventing fatalities on the scale of Mexico,
but within a couple of weeks, regional hospitals will likely become
overwhelmed. Emergency Rooms south of here are becoming overwhelmed.
And I mean that, already. It is coming in waves, but the waves are
getting bigger. President Obama is being advised to declare a national
emergency, and that this could happen within the next 48 hours.” By
the way, former USDept Defense Secy Donald
Rumsfeld is a Board member of the firm Roach Labs, which produces Tamiflu. How convenient!
Clearly no emergency was declared, since no panic was desired. Gitterle listed
numerous important guidances, directions and
suggestions. Since this is so important and loaded with risk, while information
from public authorities is so lacking, permit the note verbatim from Gitterle to his patients, intended for wider distribution,
as seen fit (in his words). THE LETTER IS HIGHLY INFORMATIVE AND USEFUL.
He refers to the Center for Disease Control (CDC) and the World Health
His credentials: Dr Marcus Gitterle, Emergency Medicine, New Braunfels, Texas.
Subject: Flu Update from Dr Gitterle
“After I returned from a public health meeting yesterday with community
leaders and school officials in Comal County , Heather suggested I
send an update to everyone, because what we are hearing privately from
the CDC and Health Department is so different from what you are hearing
in the media. Some of you know some or maybe all of this, but I will
just list what facts I know.
- The virus is infectious for about 2 days prior to symptom onset
- Virus sheds more than 7 days after symptom onset (possibly as long
as 9 days) (this is unusual)
- Since it is such a novel (new) virus, there is no ‘herd immunity,
so the ‘attack rate’ is very high. This is the percentage of people
who come down with a virus if exposed. Almost everyone who is exposed
to this virus will become infected, though not all will be symptomatic.
That is much higher than seasonal flu, which averages 10-15%. The ‘clinical
attack rate’ may be around 40-50%. This is the number of people who
show symptoms. This is a huge number. It is hard to convey the seriousness
- The virulence (deadliness) of this virus is as bad here as in Mexico,
and there are folks on ventilators here in the US, right now. This has not been in the media,
but a 23 month old near here is fighting for his life, and a pregnant
woman just south of San Antonio
is fighting for her
life. In Mexico,
these folks might have died already, but here in the US, folks are getting Tamiflu or Relenza quickly, and
we have ready access to ventilators. What this means is that within
a couple of weeks, regional hospitals will likely become overwhelmed.
- Some of the kids with positive cases in Comal County
had more than 70 contacts before diagnosis.
- There are 10-25 times more actual cases (not ‘possible’ cases,
but actual), than what is being reported in the media. The way they
fudge on reporting this is that it takes 3 days to get the confirmatory
nod from the CDC on a given viral culture, but based on epidemiological
we know that there are more than
10 cases for each ‘confirmed’ case right now.
- During the night, we crossed the threshold for the definition of
a WHO, Phase 6 global pandemic. This has not happened in any of our
lifetimes so far. We are in uncharted territory.
- I expect President Obama will declare an emergency sometime in
the next 72-96 hours. This may not happen, but if it doesn't, I will
be surprised. When this happens, all public gathering will be canceled
for 10 days.
- I suggest all of us avoid public gatherings. Outdoor activities
are not as likely to lead to infection. It is contained areas and close
contact that are the biggest risk..
- Tamiflu is running out. There is a national
stockpile, but it will have to be carefully managed, as it is not enough
to treat the likely number of infections when this is full-blown. I
don't think there is a big supply of Relenza,
but I do not know those numbers. If I had to choose, I would take Relenza, as I think it gets more drug to
the affected tissue than Tamiflu.
- You should avoid going to the ER if you think you have been exposed
or are symptomatic. ER’s south of here are becoming overwhelmed (and
I mean that) already. It is coming in waves, but the waves are getting
- It appears that this flu produces a distinctive "hoarseness" in
many victims. The symptoms, in general, match other flu's; namely,
sore throat, body aches, headache, cough, and fever. Some have all
these symptoms, while others may have only one or two.
- N-Acetyl-Cysteine -- a nutritional supplement
available at the health food store or Wimberley Pharmacy, has been
shown to prevent or lessen the severity of influenza. I suggest 1200mg,
twice a day for adults, and 600mg twice a day in kids over 12. It would
be hard to get kids under 12 to take it, but you could try opening
the capsules and putting it on yogurt. For 40 pounds and up, 300-600
mg twice a day, for less than 40 pounds, half that.
- Oscillococinum, a homeopathic remedy,
has been vindicated as quite effective in a large clinical trial in Europe , with an H1N1 variant. You can buy this at Hill Country
Natural Foods, or the Wimberley Pharmacy.
I will try to keep everyone posted if I have any new information.
Meanwhile, don’t be afraid just avoid infection. The fewer people infected,
the easier it will be for our public officials to manage it.
◄$$$ CONDITIONS IN MEXICO CITY ARE WORSE THAN REPORTED $$$. A very
reliable source on banking and gold trade matters, with associations
across the globe on commercial matters, contacted me early in May. He
prefaced his remarks by saying the source of his information was a person
in the medical field whom he has known for almost 20 years, of high integrity.
The man spent a week in Mexico
City gathering information about the hospitals, official response, and
the disease spread. He has been in touch with many people directly, and
has made his own personal observations. As best as can be transcribed
from the conversation and my notes, here are his main comments from May
“Mexico City has 26 inhabitants across the entire metropolitan area.
No cellphones work in the entire city. People
are hiding in their homes. The social fabric is breaking. A total of
10 to 20 thousand cases of Swine Flu have been realized, with actual
numbers difficult from lack of verification except for symptoms observed. In
all to date, several thousand are dead from the virus, not the mere
8 cited by the Mexican Govt. One case is an Obama secret service
guard. There are 50 thousand restaurants in Metro Mexico
City, which do $200 million in business volume per day. They are ALL
closed. Numerous major prisons are located in the Metro Mexico City area. They are the site of violent
riots right now, with fires and numerous deaths. They have been denied
food & water for one full week, and are now surrounded by military
soldiers. Chaos has broken out in the prisons.”
◄$$$ THIS SWINE FLU HAS NOTHING TO DO WITH SWINE $$$. Some technical
information on Influenza Swine Genetics is cited below, with medical
and biological professionals offering dissent to counter the official
information given to the public. Their account supports indirectly the
viewpoint that this Swine Flu was created in a laboratory. See the following
article from the New York Times entitled “Virus’s Tangled Genes Straddle
Continents, Raising a Mystery About Its Origins” for
much more information (CLICK HERE).
An excerpt is provided, with quotes within the segment underlined:
“The flu that is moving through humans appears to have a combination
of genes from two normally separate sets of pigs, those from the Americas and
from Eurasia, scientists say. However, it is
unknown how those pigs met, and there is not yet any genetic proof
that this particular flu was ever in a pig… The federal Centers
for Disease Control and Prevention announced last week that the new
virus had pieces of North American swine, bird, and human flus and
of Eurasian swine flu. Although rumors questioning that are circulating
on the Internet, most geneticists believe it is correct. It is essentially
a blend of Eurasian swine flu and North American swine flu, but Western
hemisphere strains have had an avian segment on the PB2 gene for at
least 10 years and a human component on the PB1 gene since 1993, said
Henry L Niman, a biochemist who tracks flu
mutations. ‘The original report is correct,’ Dr Niman said
of the CDC’s analysis. The rumors, he added in an e-mail message, stem
from ‘someone who really doesn’t know how to analyze sequences (or
is being misquoted.)’ It presumably is in pigs somewhere, perhaps
The 1918 human H1N1 established itself in pigs by 1930. But, as Dr Niman pointed out, it could be only in humans now, or even
in a ferret. The next question, said Dr Robert G Webster, a virologist
at St Jude Children’s Research Hospital,
is: “How did this virus get in? Is Mexico importing
swine from Europe?” While movement of live
pigs between Canada,
the United States,
and Mexico for fattening and
slaughter is routine, legal movement of pigs across oceans is rare.
Pigs carry many diseases, so importation requires expensive tests and
quarantines. The only reason to bother would be for breeding, not meat.”
◄$$$ BIG PHARMACEUTICAL FIRMS HAVE ALREADY PROTECTED THEMSELVES
FROM CRIMINAL LIABILITY $$$. Dr TenPenny provides some interesting intriguing background
on liability for Giant Pharma firms. They have
covered their tracks, might be preparing for the future, and have successfully
enlisted the aid of USCongress. The terrorism
scare fits well with the legislation, a necessary element. My view on
the Islamic terrorism story is that it is a pure concoction hoax by the USGovt under
war and profiteering motives, as well as dismantlement of the Constitutional Republic of the United
States. That opinion is based on personal conversations
with at least a dozen informed and connected people within the banking
community and military special forces. If Big Pharma labs
are the culprits who disseminate and distribute the deadly influenza
viruses, then they want to ensure no legal liability or criminal liability.
Instead, they want to guarantee profit and immunize themselves from costly
lawsuits. One could say the ground was laid for the weaponized influenza
events, if they are to come. See the USCongressional Bill
for details (CLICK HERE).
Here is a background account by Dr TenPenny:
“In 1976, the Federal Insurance Company advised Merck that all liability,
indemnity, and defense costs associated with claims arising from the
new Swine Flu vaccine would not be covered by its insurance plan. Having
absorbed the embarrassment and the economic losses caused by the polio
vaccine in 1955, the pharmaceutical industry and their insurance providers
were determined that would not happen again. This time, there are no
worries. Drug companies have completely covered their tracks, and when
reports of adverse event and deaths from the new Swine Flu vaccine
start to roll in, they will be smiling all the way to the bank. Flu
shots were added to the Vaccine Injury Compensation Table in 2003,
meaning, if anyone is injured, a claim needs to be filed through the
Federal Court of Claims and it will be years before it is adjudicated. And
that is just the basic layer of protection. All the drug companies
have to do is whisper that this may be a ‘terrorist attack’ and they
are home free. Before he was voted out of office in 2006, then-senator
Bill Frist (R-TN), a physician, drove through
a bill that gave drug companies more immunity than any bill ever passed
by Congress. The legislation, referred to as ‘Division-E’ was tacked
on to a Defense appropriations bill in the final minutes of the Congressional
sessions before the Christmas recess. This bill provides at least four
sweeping provisions that protect the large firms against wrongful death,
injury, psychological damage, or loss of property or business.”
◄$$$ SOME ADDITIONAL BACKGROUND READING
F. William Engdahl “Flying Pigs”
F. William Engdahl “Flying Pigs, Tamiflu and
Factory Farms Part II”
“German Sleuths Stalk Origin of Killer Flu”
GLIMPSE TO THE FUTURE, A POSSIBLE UGLY SIGHT
◄$$$ TIMING AND TRAGIC FUTURE VIEW $$$. One
cannot dismiss arbitrarily the timing of the Swine Flu events to date.
No coincidences exist or occur when billion$ are involved and nations
take major turns. NEVER! The ultimate goal is for military and security
agencies to take control, for those who would wish to subvert the Constitution
and force change. They are actually fed up with mere unwashed people
controlling government! They are fed up with maintaining the pretence
of having the people in control. For two decades or more, the big powerful
bankers have been in full political control. When the US bankers have been the object of threats, when
the public has been mobilized in demonstrations, when the USEconomy is
stuck in a deep recession, when the US banking system is broken, when public disgust
of both Wall Street and the USCongress is higher
than ever, a Swine Flu outbreak occurs. Tea Parties are temporarily halted,
on hold. Timing is very suspicious!
What follows is a personal depiction of the future, which might include
a serious weaponized influenza used and directed
at the public. Regardless of motive or purpose, the people need to know
what to prepare for and to expect. For many years, debate has stirred
regarding an eventual declaration of Martial Law within the United States. Talk has been
ripe since the World Trade Attack on 911 in September 2001. The irony
of the 911 event name and the dialed number for emergency phone calls
is inescapable. Many have expected another terrorist event, of sufficient
force to warrant declaration of Martial Law. My recent forecasts have
focused on the likelihood of economic breakdown leading to gradual chaos,
lost order, and the result of Martial Law. Another theory is that a USTreasury default could occur, resulting in banking shutdowns
and economic halt, which would require Martial Law to keep order. In
fact, the US Federal Reserve might someday terminate its contract, since
it is losing too much money from the failure of the USEconomy to
be revitalized. An influenza outbreak cannot be ruled out that could
lead to Martial Law, the practical equivalent of a declared State of Emergency.
The sequence of events after an influenza outbreak and epidemic would
be shocking and rapid. The FEMA agency is intended to deal with establishing
order and security in the face of epidemic. Quarantines, specific treatments,
mobilization of resources, and legal authority change are the immediate
result. The FEMA takeover would be identical to a Martial Law takeover,
and would involve a pervasive military role. The public would be ordered
not to congregate. The public would be ordered to accept rationed goods.
The public would probably be ordered to disarm and turn in all weapons. The
public would be ordered to take vaccines on a massive scale. That
is where viruses might be inserted into the supposed vaccines. Even as
the epidemic spreads, the virus would accelerate from the actual treatments,
possibly. Those who refuse to take the vaccine, by emergency law,
would be arrested, and herded into concentration camps. In the camp,
they could legally be either given the vaccine (laced with virus or not)
or subjected to execution death. This is a grim story and outlook. One
cannot be certain that it will come to pass. Watch for signs that FEMA
takes control. Watch for signs of forced inoculation. The public already
knows of the Baxter case, where vaccines were contaminated.
The best advice received by me on vaccinations and inoculations is NOT
to take any general flu vaccine. Doing so would weaken your immune system
temporarily. During a one or two week period after a general flu vaccine,
your body would be highly vulnerable to sudden death from a more powerful
Swine Flu or other powerful influenza virus. If you wish to take a vaccine,
wait until the ‘Real Deal’ is available specifically to treat Swine Flu.
That vaccine is likely not to be available until this autumn.
BY THE WAY, KISSINGER LEAKED OUT INFORMATION THAT THE MUCH BIGGER
GLOBAL INFLUENZA OUTBREAK WILL OCCUR THIS SEPTEMBER. These people
are so evil, so without consciences, and so arrogant. They do not care
if the public has a hint of what comes, since they are confident that
the influenza distribution cannot be stopped. Rest assured that the
culprits will be well protected with their own personal vaccines made
available. For those who wish to catch a very well done fictional glimpse
of what might come in the future, rent “V For Vendetta” the
movie. It has a plot of intentional genocide by designed influenza,
mass deaths in London, a cure
by Big Pharma that rendered the culprits
extremely wealthy, phony blame given to some Moslems, and a witch hunt
that included prison for sympathizers to Islam, even a death sentence
to any owner of a Koran.
◄$$$ REALISTIC PREDICTIONS ON THE UGLY SIDE
$$$. Big Jake has posted some interesting predictions that seem
more realistic than mainstream economist viewpoints. They tend to fit
within the framework of my forecasts for continued disintegration of
the USEconomy. To be sure, progress is NOT
coming anywhere as promised, forecasted, or expected. Powerful feedback
loops have been at work for a few months, which go counter to with
the phony positive psychology that has been hatched in the financial
media. Mainstream economists and financial analysts have been very
consistent in their incorrect forecasts, erring on the promising favorable
side. The Soft Landing expected for late 2008 turned into a cyclone
disaster. Economic recovery has been delayed not for the second half
of 2009 anymore, but for 2010, where accountability is even more lax
and memory more fleeting. The consensus fails to detect that this recession
is a systemic collapse that has required unprecedented actions to forestall
even broader failures. Most bank policies seem intended to enrich the
Elite Bankers who caused the problem with their enormous fraud, which
to date has not been prosecuted. So think realistically.
The degree of nationalized financial firms and rescued corporations
is not normal. Nor is the assumption of diverse US bank
system functions by the USFed’s many liquidity
funding facilities. Nor is the colossal degree of negative equity homes
and their foreclosures. The job loss is not typical for a recession either,
as 6.351 million remain on continued jobless
claims for state support. The true jobless rate is at 15.8%, and when
it rises above 20% on the official U6 figure, much attention will come.
To date, the primary theme of USGovt actions
has been to support failed firms, failed executives, and to direct most
funds into those failed pits. The banks on Main
Street face now impose extremely strict requirements for credit approval.
The same financial syndicate that produced the crisis remains in full
charge of the USDept Treasury, led by Goldman Sachs. On a more national
level, the Endless War continues to drain available funds for the infrastructure
and ‘Green’ projects like electric cars and alternative energy sources.
Such projects will remain hot air until the war winds down, likely never.
See the Seeking Alpha article (CLICK HERE).
Following this preface, Big Jake makes ten clear predictions, which criss-cross
mine. His are more intense in nature than mine, and broader than mine,
but we share similar darker outlooks. The time for optimism seems in
the past, before the nation’s wealth was gutted and the USGovt was
taken by a Wall Street coup. Here are his forecasts:
stock bubble from two decades pops in 2009. The S&P500 will fall
40% more, with eventual ‘Stock Market Holidays’ declared.
national program will entrust Wall Street to bid up stocks so as to lift
pension funds, in response to huge private pension fund losses, as the
same fraud kings are kept in charge.
of retirees will face homelessness, starvation, and freezing homes. Local
government welfare facilities will be strained, and families will take
Easing risks price inflation and USDollar devaluation,
with foreign outcry growing much worse. Foreign reserve funds held in
US$ will vanish by 2012.
late 2010, the only bidders for USTreasurys and USAgency Mortgage Bonds will be the USFed and
its ‘derelict’ institutions under USGovt control,
with all pretence of propriety and legitimacy gone.
will rise in the massage U3 figure to the upper teens by late 2010. The
more accurate U6 figure will no longer be reported after it hits 25%.
College graduates will widely find no work.
strapped and strained police and other city workers will resort to rampant
corruption and crime to survive. Police, teachers, and numerous others
will turn vicious.
commercial properties will reflect the blight in clear terms, as ghost
town sections emerge into dilapidated and neglected areas, then into
deep decay, turned dangerous.
foreclosures will continue unabated, and escalate into a national nightmare
of scoffed ignored mortgages, as tens of millions are in default or refuse
to make monthly payments by 2010. A new trend will find banks exiting
the mortgage business entirely. The housing market might enter an actual
locked up condition, nothing being bought or sold. The bank run crisis
will reach a stage where a $1 trillion FDIC bailout is ordered.
10) Social and political consequences
are inevitable. State secession and extremists will grow in their movement.
Small armed militia groups will grow. Violent vengeance, standoffs, and
murder suicides will grow. Many immigrants will go home, with and without
skills. Property crime will grow. Mutiny and desertion will be common
in the USMilitary. Major tax collection problems
will arise. More and louder ‘Tea Parties’ will occur. A national disaster
might occur, which will reveal the lack of order and response capability
by the USGovt and other authorities. By 2012,
the nation will risk “immediate danger of blowing up or coming apart
at the seams” in a justified manner.
◄$$$ THE GLOBAL CRISIS AND EXPERT WARNINGS $$$. The
current global crisis is ‘vastly worse’ than the 1930s because financial
systems and economies worldwide have become more interdependent, according
to author Nassim Nicholas Taleb.
He wrote the book about the ‘Black Swan’ concept, the rarely seen creature
whose appearance should shake all forecasts and perceptions into revisions. Taleb spoke
at a Singapore conference,
along with Nouriel Roubini from New
York University, and Mark Mobius from Templeton
Asset Mgmt. Taleb spoke about the global threats
and effects of unprecedented central bank response. He sees the global
economy as facing a big deflation threat, although the risks of inflation
are also increasing as governments print more money. In other words,
price inflation can turn suddenly after a tipping point, like a gigantic
barrel of water pouring onto a vegetable garden. Gold and copper may ‘rally
massively’ as a result, in his words. Gold, copper and other assets
that China favors in its investments
and stockpiles are the best investment bets, as currencies including
the USDollar and euro currencies face pressures, Taleb believes.
The IMF expects the global economy to shrink 1.3% this year, which would
force central bankers to maintain extreme monetary pressures. In time,
the tipping point is reached and passed.
Taleb said, “This is the most difficult
period of humanity that we are going through today, because governments
have no control… Navigating the world is much harder than in the 1930s… Debt
pressurizes the system and it has to be replaced with equity. Bonds
appear stable but have a lot of hidden risks. Equity is volatile, but
what you see is what you get.” Mark Mobius of Templeton warned about credit derivatives and the
continuing explosive threat they contain. He said, “There are going
to be more and more losses on the part of companies that have credit
derivatives, those who have currency derivatives. This is something
we are going to have to watch very, very carefully.” Contrast these
experts, who have solid track records with Bernanke, Geithner,
and other pundits who have been consistently wrong, some of whom have
been principal agents behind the problems themselves. Nassim Taleb was one of the earliest forecasters of the current
financial crisis. He should be listened to very carefully. See the
Bloomberg article (CLICK HERE).
◄$$$ AN URGENT MESSAGE BY MY WELL CONNECTED SOURCE $$$. The same
fellow who warned of deep failures across the entire US financial
sector one month in advance of the September 15th sequence of disasters
has offered some sage advice, in constructive fashion. Toss out old methods
of thinking. The source said, “What makes today’s developments so
interesting and dangerous, is the fact that we are confronted with
paradigm change of a monumental proportion. Pulling past experience
to the present and using the present situation and information to project
into the future will not cut it. This is all very complex and multi-layered.
The more of us keep an eye on developments and share, the faster we shall
be able to pull things together for a quite accurate assessment what
lies behind the bend of the road. In any event it will be very ugly and
most people will be going over the cliff, never to be heard of and to
be seen again.” He has often spoken of the extreme opportunities
that people face, but they cannot remain committed to paper assets. They
must own the real assets, like gold & silver, like commodities, like
farmland, like water resources.
CHALLENGE AGAINST THE US FEDERAL RESERVE
◄$$$ SPECIFIC CHALLENGE BY USCONGRESS TO GEITHNER
$$$. A confrontation has come between the USCongress and
the Goldman Sachs plant at the Treasury Secy post,
Tim Geithner. The USDept Treasury has
so far ignored the Inspector General’s fraud prevention recommendations.
House Rep Kevin Brady is the key person behind the challenge. The Congressional
chambers are indeed divided, part corrupt, part outraged. Below is
the official news release.
“US Treasury Secretary Timothy Geithner should
stop stonewalling and immediately implement the taxpayer safeguards
recommended by the special inspector general for the government’s massive
financial rescue plan, says US Congressman Kevin Brady (R-Texas). Brady
is the senior House Republican on the Joint Economic Committee, which
heard Special Inspector General Neil Barofsky testify
last week that the Treasury Department has not agreed to implement
his recommendations to increase accountability and prevent fraud within
the government’s various TARP and bad-loan programs. Barofsky is
pushing for banks to account for their use of TARP funds and for the
Treasury to adopt basic safeguards within the public-private investment
program to remove toxic assets from troubled banks. The potential of ‘collusion,
conflicts of interest, and money laundering’ within the new program
puts at risk significant taxpayer dollars, said Barofsky. ‘Secretary Geithner should
embrace this call for accountability and safeguards, and direct his
team to immediately implement the recommendations contained in the
inspector general's report,’ said Brady. ‘Why has the Treasury
failed to act?’ Brady believes that the lack of accountability
for taxpayer dollars and absence of basic safeguards within the toxic
asset program undermine public and investor confidence in the government’s
bailout efforts. According to the Special Inspector General’s report,
many aspects of Secretary Geithner’s recent
proposal for public-private partnerships to purchase toxic assets ‘make
it inherently vulnerable to fraud, waste and abuse.’ Specific problems
identified with Secretary Geithner’s proposal
include conflicts of interest, collusion, and money laundering. As
the report notes, it would be unacceptable if this proposal ‘were
used to leverage the profits of drug cartels or organized crime groups.’” Take
heart that finally an official has implicitly compared the Wall Street
financial syndicate to a drug cartel from organized crime. In fact,
the linkage is even more accurate, since Wall Street firms are involved
with handling Afghan narcotic funds through JPMorgan, which manages
the Bank of Baghdad. See the USCongressional news
release (CLICK HERE).
◄$$$ USCONGRESS PRESSES FOR A USFED AUDIT
The US Federal Reserve Inspector General was recently unable to tell
House Rep Alan Grayson (D-Florida) what occurs at the USFed itself,
and who has been receiving the trillions of dollars they created. See
a video clip on the exposure (CLICK HERE). Thanks
to broad public support, HR 1207, which would require a formal audit
of the USFed, now has 143 cosponsors! Something
on the order of $9 trillion in off-balance sheet transactions has been
conducted by the USFed since last September
2008, according to a Bloomberg court challenge. Do not confuse the USCongress Inspector General (competent, demanding) with
the USFed Inspector General (lax, clueless).
Bloomberg and Fox Business News are pushing lawsuits through the court
system right now, filing having begun a few months ago. Apparently and
incredibly, the Inspector General Elizabeth Coleman lacks the authority
and power to conduct audits, even though its office has the chartered
task with overseeing and auditing the Federal Reserve. This supposed
empowered auditor knows next to nothing about what the USFed is
doing. Neither lending, nor losses, nor its expanded $2 trillion
balance sheet composition has been monitored or tracked, let alone audited.
Coleman was forthright in openly revealing her ignorance. She said, “She
did not know where the Fed has invested its $2 trillion on the liability
side of the balance sheet. I do not know [about portfolio investments].
We have not looked at that specific area at this particular point on.
We do not have jurisdiction to directly go out and audit reserve bank
Her statements are is odd, since their website declares broad audit
authority. The website claims the office “conducts independent and
objective audits, inspections, evaluations, investigations, and other
reviews related to programs and operations of the Board of Governors
of the Federal Reserve System.” Here is an incomplete listing of
recipients for TARP funds, dating back to late October 2008, several
pages long, provided by the New York Times (CLICK HERE).
It is incomplete because it does not include fraudulent payouts, hidden
payouts, paid extortion (possible murder threats last autumn), and criminal
activity mixed in.
My claim that Wall Street is a monstrous massive financial crime syndicate
is supported by this information. The USFed is
at its center. It is my opinion that the USFed oversees
and manages the flows for enormous counterfeit bonds, tolerates naked
shorting, until recently ignored failed bond trades, conducts payoffs
for foreign extortion, and carefully manages narcotics money laundering.
The Inspector General seems to be a passive onlooker, perhaps by design.
My full expectation is that legal challenges under the Freedom of Information
Act, along with USCongressional demands for
disclosure, will result eventually in a case before the US Supreme Court.
At that point, my next expectation is defiance of the high court, or
blatant cowering before the syndicate by the high court itself.
◄$$$ ACCUSATIONS AGAINST GOLDMAN, A CALL FOR
RICO LAWS $$$. A scathing but well directed charge of financial
syndicated corruption is laid by Max Kaiser, on two interviews. He
is a lone wolf journalist and broadcaster based in Paris France.
The first interview features a straight man from a French financial
firm defending the system. In that first interview Kaiser identifies
Goldman Sachs and the Wall Street firms for comprising a financial
terrorist group that has taken control of the USGovt financial
functions. Their enterprise has resulted in bankruptcy of the state,
and needs to be decapitated. He directly claims that executive stock
options often involve counterfeit, fraud, and embezzlement. He pointed
to the backdating of stock options and other illegal practices, which
have often gone unprosecuted. In the second interview, Kaiser accuses
former Treasury Secy Paulson of being a tyrant
and financial terrorist, who led the Goldman Sachs and JPMorgan money
laundering scheme. He claims Paulson hijacked the USGovt financial ministries and took the USEconomy to the abyss with his dictatorial powers.
Kaiser believes that the Wall Street firms, Federal Reserve banks, USDept Treasury,
and Debt Ratings Agencies should be prosecuted under the RICO racketeering
laws, where conspiracy is a separate important crime. They have
stolen trillion$ in bonds from fraud and counterfeit, yet have escaped
almost all prosecution. Their impunity is a result of continued Wall
Street syndicate control of the USGovt financial operations. He makes the point that foreigners
have only one recourse, to exit the USDollar and
US$-based investments. When Lehman Brothers failed, its Venezuelan
bonds went down with it, but the Chinese investments in Fannie Mae
were made whole. That testifies in his opinion as to who the credit
masters are. See the two video clips (CLICK HERE).
While he sounds outrageous at times, he makes some excellent points.
My private sources confirm what Kaiser said about the third building
at the World Trade Center,
about which he only touches the surface. It contained Enron evidence
from the JPMorgan files, and fell without aid from any aircraft crashing
into it (i.e. demolition).
THE WALL STREET BANK FRAUD COVER-UP
◄$$$ BLACK DESCRIBES A GIGANTIC WALL
STREET FRAUD COVER-UP $$$. Bill Moyers has another insightful interview.
He is turning into quite an adept agent to expose the deep corruption
now evident to all but the most ignorant and politically driven. See
his interview of William K. Black, the former senior regulator who
cracked down on banks during the Savings & Loan crisis of the 1980s.
He explains the systemic breakdown and the crucial lapses in the USCongress,
Wall Street, and the regulatory agencies. HIS MAIN POINT IS THAT THE
FINANCIAL CRISIS WAS ORGANIZED SYSTEMATICALLY YEARS AGO, AND INVOLVES
DEEP COVER-UPS NOW TO PREVENT RECOGNITION OF TRILLION$ IN FRAUD, AS THE SAME
CRIMINALS REMAIN IN CHARGE, APPOINTED AND HIRED PRECISELY BECAUSE THEY
ARE RESPONSIBLE FOR THE CRIMINAL ACTIVITY, TRILLION$ FRAUDS. Black
confirms my accusations of gigantic fraudulent behavior within financial
crime syndicates. Note the organization at which he directs his verbal
indictments. See the interview (CLICK HERE).
It is provided in detail, since the interview provides details on what
has become a Financial Coup d’Etat, a takeover
of the USGovt finance function by a vast crime syndicate. These
are important details coming from a criminal investigator with experience.
“BLACK: The FBI publicly warned in September
2004 that there was an epidemic of mortgage fraud, that if it was allowed
to continue, it would produce a crisis at least as large as the Savings & Loan
debacle. And that they were going to make sure that they did not let
that happen. So what goes wrong? After the 9/11
attacks, the Justice Department transfers 500 white collar specialists
in the FBI to national terrorism. Well, we can all understand
that. But then, the Bush Admin refused to replace the missing 500 agents.
So even today, again, as you say, this crisis is 1000 times worse,
perhaps, certainly 100 times worse, than the Savings & Loan crisis.
There are one fifth as many FBI agents as worked the Savings & Loan
crisis. [Others involved in the de-regulation] are the trade representatives.
They are the lobbyists for the bankers. And everybody is grinning.
The government is working together with the industry to destroy regulation.
Well, we now know what happens when you destroy regulation. You get
the biggest financial calamity of [anybody’s knowledge] under the age
BLACK: There were two really big things, under the Clinton
administration. One, they got rid of the law that came out of the real
world disasters of the Great Depression. We learned a lot of things
in the Great Depression. And one is we had to separate what is called
commercial banking from investment banking. That is the Glass-Steagall law. But
we thought we were much smarter, supposedly. So we got rid of that
law, and that was bipartisan. And the other thing is we passed a law,
because there was a very good regulator, Brooksley Born, that everybody should know about and probably does not.
She tried to do the right thing to regulate one of these exotic derivatives
that you are talking about. We call them Credit Default Swaps. And Summers,
Rubin, and Phil Gramm came together to say not only will we block this
particular regulation. We will pass a law that says you cannot
regulate. And it is this type of derivative that is most involved in
the AIG scandal. AIG all by itself, cost the
same as the entire Savings & Loan debacle.
BLACK: But the other element of your question is we do not want to
change the bankers, because if we do, if we put honest people in,
who did not cause the problem, their first job would be to find the
scope of the problem. And that would destroy the cover-up. Geithner is charging,
is covering up, just like Paulson did before him. Geithner is publicly saying that it is going to take $2 trillion
(a trillion is a thousand billion) taxpayer dollars to deal with this
problem. But they are allowing all the banks to report that they
are not only solvent, but fully capitalized. Both statements cannot
be true. It cannot be that they need $2 trillion, because they
have masses losses, and that they are fine. These are all people who
have failed. Paulson failed, Geithner failed. They were all promoted because they
failed. Geithner was one of our nation’s
top regulators, during the entire subprime scandal that I just described.
He took absolutely no effective action. He gave no warning. He did
nothing in response to the FBI warning that there was an epidemic of
fraud. All this pig in the poke stuff happened under him. So,
in his phrase about legacy assets. Well, he is a failed legacy
BLACK: First, in the financial sphere, … the
policies are substantively bad. Second, I think they completely lack
integrity. Third, they violate the rule of law. This is being done
just like Secretary Paulson did it, in violation of the law. We adopted
a law after the Savings & Loan crisis, called the Prompt
Corrective Action Law. And it requires them to close these
institutions. And they are refusing to obey the law. You do a receivership
[close the banks without nationalizing them]. Ronald Reagan did receiverships.
Nobody called it nationalization. That is the law. [Such action by
Paulson and Geithner] was mandated by the law. In the Savings & Loan
debacle, we developed excellent ways for dealing with the frauds, and
for dealing with the failed institutions. And for 15 years after the
Savings & Loan crisis, it did not matter which party was in power,
the USTreasury Secretary would fly over to Tokyo and tell the
Japanese, ‘You ought to do things the way we did in the Savings & Loan
crisis, because it worked really well. Instead you are covering up
the bank losses, because you say you need confidence. And so, we have
to lie to the people to create confidence. And it does not work. You
will cause your recession to continue and continue.’ And the Japanese
call it the lost decade. That was the result. So, now we get in trouble,
and what do we do? We adopt the Japanese approach of lying about the
assets. And you know what? It is working just as well as it did in Japan.
MOYERS: Are you saying that Timothy Geithner,
the Secretary of the Treasury, and others in the administration,
with the banks, are engaged in a cover-up to keep us from
knowing what went wrong?
BLACK: Absolutely, because they are scared to
death. All right? They
are scared to death of a collapse. They are afraid that to admit
the truth, that many of the large banks are insolvent. They think
Americans are a bunch of cowards, and that we will run screaming
to the exits. And we will not rely on deposit insurance. And, by
the way, you can rely on deposit insurance. And it is foolishness. All
right? Now, it may be worse than that. You can impute more
cynical motives. I do not know whether we have lost our capability
of outrage. Or whether the cover-up has been
so successful that people just do not have the facts to react to
it, like in Congress, to hold the necessary hearings. And
we can blast this out. But if you leave the failed CEOs in
place, it is not just that they are terrible business people,
though they are. It is not just that they lack integrity, though
they do. Because they were engaged in these
frauds. But they are not going to disclose
the truth about the assets. To know everything. To
know who committed the frauds. Whose bonuses
we should recover. How much the assets are worth. How much
they should be sold for. Is the bank insolvent, such that we should
resolve it in this way? It is the predicate, right? You need to
know the facts to make intelligent decisions. And they are
deliberately leaving in place the people that caused the problem,
because they do not want the facts. So stop that current
system. We are hiding the losses, instead of trying to find out
the real losses. Stop that, because you need good information to
make good decisions, right? Follow what works instead of what has
failed. Start appointing people who have records of success, instead
of records of failure. That would be another nice place to start.
There are lots of things we can do, even today, as late as it is. Even
though they have had a terrible start to the administration. They
could change, and they could change within weeks. And by the way,
the folks who are the better regulators, they paid their taxes.
So, you can get them through the vetting process a lot quicker.”
◄$$$ BLACK CONCISELY SLAMS THE BANK STRESS TESTS $$$. William
Black was at a later date interviewed at the 18th Hyman Minsky Conference
about the sham of Stress Tests and the unreliability of bank earnings.
He made the following claims: 1) Bank loan loss reserves are grotesquely
low. The Stress Tests doe not test for loan loss reserves, nor for
asset values, a total sham. 2) Treasury Secy Geithner has a record of being a failure at every post where
he served, the latest being the New York Fed. He took no action during
the biggest credit bubble buildup in history. Geithner even
admitted to the USCongress never to being a
bank regulator, even though that was precisely his job description as
the New York Fed head post. 3) Commercial loans are the next area registering
losses, and will be a ‘world of hurt’ for not only banks but also insurance
companies. 4) Citigroup is a perfect example of the ‘Too Big to Fail’ principal
really meaning too big to run, and too big to regulate. It desperately
needs to be broken up. Some of the business units might be salvageable.
On the whole a disaster is raging ablaze. He asks a basic question of
the Stress Test administrators. “How can all 19 banks pass the
Stress Tests if the same USDept Treasury estimates a $2 trillion capital inadequacy
for the banks?” Therein lies the contradiction
underlying the sham! See the video clip (CLICK HERE).
Note his comments about commercial loans, which extend to mortgages,
which will crush banks soon.
◄$$$ BANKS OWN THE USCONGRESS, A CHARGE FROM WITHIN $$$. Senator
Dick Durbin from Illinois openly stated in a public forum a charge
that needs to be heard more often, in more locations, and with higher
amplitude. He is not to be taken lightly, since he is the Senate Majority
Whip. On a local Chicago radio
station two weeks ago, Durbin stunned the audience with an obvious truth
about the USCongress that is rarely spoken.
The fact is obvious to those who remain informed. He said, “And the
banks, hard to believe in a time when we are facing a banking crisis
that many of the banks created, are still the most powerful lobby on
Capitol Hill. And they frankly own the place.” The blunt acknowledgment
confirms that the very banks that are responsible for the crux of the
financial crisis still ‘own’ the USCongress, according to one of its most powerful. The institutional
corruption is extreme. My belief is that the corrupt tentacles extend
to the Pentagon, to defense contractors, and to the US media networks. See the
article on Salon (CLICK HERE).
In fact, influence ownership of the legislative and executive branch
of the USGovt is made possible by means of
endless and increasingly sordid overlap between government and corporate
officials. For instance, a former Barney Frank staffer is now a top Goldman
Sachs lobbyist. Michael Paese is now the top
lobbyist, serving as director of USGovt affairs,
a role held last year by former Tom Daschle close associate, Mark Patterson,
who is now the chief of staff at the USDept Treasury. Note
the Wall Street & Congress revolving door. Paese previously worked at JPMorgan and also served as senior
minority counsel at the Financial Services Committee. How incestuous!
Here is another scummy link. Over 100 former USGovt employees
are now working as bank lobbyists on bailout matters. In late March,
during a time when public outrage over bonuses paid to executives of
bailed-out financial firms had erupted, Citigroup CEO Vikram Pandit met
with Senate majority leader Harry Reid. Accompanying Pandit to
the meeting was Jimmy Ryan, one of the big bank’s leading lobbyists.
Ryan was familiar to Reid and his staff. Until 2003, he served as the Nevada
senator’s chief counsel. More incest!
Here is a final scummy story. The Federal Reserve Bank of New
York was a key influence in shaping the USGovt response
to the financial crisis last autumn. The entire set of Wall Street firms
were buoyed by federal support, including Goldman Sachs. It was blatant
favoritism at public expense. Goldman received speedy approval to become
a bank holding company in September and a $10 billion capital injection
soon after from TARP funds. Goldman also was first in line for 100% redemption
of Credit Default Swap contracts held by AIG. During that time, Stephen
Friedman was the New York Fed chairman. He was a member of the Goldman
Sachs board and had a large investment in Goldman stock. That alone was
a violation of Federal Reserve policy, due to the new Goldman status
as a bank holding company. Friedman benefited from the revival of the GSax stock,
with ugly insider collusion and influence. To be honest, no sooner
than half an hour after putting pen to paper on this paragraph, news
came of Friedman’s resignation.
Stephen Friedman, chairman of the New York Federal Reserve Bank’s board
of directors, resigned from his position effective immediately to avoid
the appearance of a conflict of interest. A retired chairman and current
member of Goldman Sachs board, he had been granted a waiver to keep serving
after the venerable (but corrupt) firm became a bank holding company
in September, a change that would have normally barred Friedman from
serving as a director appointed to represent the public. Goldman Sachs
in my view exploits markets at public expense, with rampant evidence
of insider trading and influence peddling. He will depart after calls
by USCongressional members for greater scrutiny of the regional
Fed banks and the appointment of institution presidents. His purchases
of Goldman Sachs stock in December and January were criticized by a senator.
Friedman posted a letter on the New York Fed website that read, “Although
I have been in compliance with the rules, my public service motivated
continuation on the Reserve Bank Board is being mischaracterized as improper.
The Federal Reserve System has important work to do and does not need
this distraction.” The distraction he refers to might be prosecution
and exposure of the financial syndicate criminal activity. He must not
comprehend insider trading and blatant collusion, but then again, Wall
Street executives have almost NO moral compasses anymore. The revolving
door continues to favor the Elite Club. Friedman led the search committee
for the bank’s new president after Timothy Geithner departed
to become Treasury Secretary. The New York Fed appointed William Dudley,
a former Goldman economist, as president in January. Goldman still rules!
See the Bloomberg article (CLICK HERE).