While the short-term benefits can be weighed against any long-term solution a number of ways, Nigel Farage provides not just the most colorful summation of situation but also the most succinct when he refers to the ‘madness’ of ‘intervention to keep the Euro alive’ as “reinforcement of failure”. [Read more…]
“When the hell do we the so called common people wake the hell up? Unlimited money supply is not enough for these people. They want all of our souls!!”
Kyle Bass, Hayman Capital Hedge Fund Manager, is best known in the finance world for predicting the 2008 housing market meltdown. Few listened then, but took his careful study of markets more seriously after the housing market imploded. Btw, he made millions. [Read more…]
RT’s definition “A technocrat is someone who is selected, through a bureaucratic processes, on the basis of specialized knowledge and performance, rather than democratic or popular election. In a technocracy, decision makers would be selected based upon how knowledgeable and skillful they are in their field.” [Read more…]
Max promises in an upcoming show “Max & Stacey” will bring the Keiser Report from “bed” and soon. He also interviews Birgitta Jonsdottir, about the true state of transparency, banking and economy in the latest IMF poster child, Iceland. [Read more…]
First Slovakia voted NO for the newest bailout, but then voted YES. Here’s Zerohedge’s latest on this continued saga…
Well, that’s that.
SLOVAK PARLIAMENT APPROVES EXPANSION OF EFSF RESCUE FUND, CONCLUDES RATIFICATION IN ALL EURO ZONE COUNTRIES -RTRS 114 voted for the EFSF, 30 against and 3 abstained from 147 present (out of 150)
Now: perhaps we can finally get some details of what will happen next instead of just blind short covering squeeze on rumor-based headfakes? Oh wait, we won’t? Because there are no real details and it is all just rhetoric?
And then there is this update “Van Rompuy And Barroso Announce €440 Billion EFSF Fully Functional; Now, How Do They Expand It To €3 Trillion?”
Zerohedge has this story over at their site, but to give this puppy more exposure we thought it wise to bring it over here. Here’s what ZH has to say –
“A week after the BBC exploded Alessio Rastani to the stage, it has just done it all over again. In an interview with IMF advisor Robert Shapiro, the bailout expert has pretty much said what, once again, is on everyone’s mind: “If they can not address [the financial crisis] in a credible way I believe within perhaps 2 to 3 weeks we will have a meltdown in sovereign debt which will produce a meltdown across the European banking system. We are not just talking about a relatively small Belgian bank, we are talking about the largest banks in the world, the largest banks in Germany, the largest banks in France, that will spread to the United Kingdom, it will spread everywhere because the global financial system is so interconnected. All those banks are counterparties to every significant bank in the United States, and in Britain, and in Japan, and around the world. This would be a crisis that would be in my view more serrious than the crisis in 2008…. What we don’t know the state of credit default swaps held by banks against sovereign debt and against European banks, nor do we know the state of CDS held by British banks, nor are we certain of how certain the exposure of British banks is to the Ireland sovereign debt problems.”
To read more from Zerohedge click HERE
August 24, 2011
by Bob Chapman, International Forecaster
The meaning of the social security and medicare cuts, the continuing influence of the Council on foreign Relations, no real Consumer Price Index to go by, Euro zone not fully aware of the problem they have, a massive exposure for them, extended and unpayable debt,
We do not believe that Americans, particularly elderly Americans, understand what the elitists are up to in regard to Social Security and Medicare. The Council on Foreign Relations and the Peterson Foundation has for years been working on plans to terminate Social Security and Medicare. Cuts in these paid for programs were impossible to get through Congress. Thus, the ruse was born of getting around Congress. A flash issue was raised regarding a short-term debt extension that could have been passed in 15 minutes that demanded budget cuts for passage. In that process the Obama Enabling Act was formulated, patterned on the German Enabling Act passed in 1933 by Adolph Hitler. It allows a 12-person panel to bypass Congress regarding legislation. The changes are made in this committee and cannot be debated or amended and must be voted on via a straight up and down majority vote. While this was transpiring, as part of the plot, Standard and Poor’s downgraded the US debt rating based upon there not being large enough cuts in what Congress likes to call entitlements, which are not entitlements, but paid for benefits. The reason for the cuts is that both benefits trusts are broke, all the funds having been spent on other things over the years. S&P said that if major cuts are not made that they would cut the US debt rating again in November. Thus, you can understand the framework and what the elitists have paid the committee and Congress to do. The committee takes all the heat upon passage and Congress generally gets off the hook. [Read more…]
August 23, 2011
by David DeGraw, AmpedStatus
What if the greatest scam ever perpetrated was blatantly exposed, and the US media didn’t cover it? Does that mean the scam could keep going? That’s what we are about to find out.
I understand the importance of the new WikiLeaks documents. However, we must not let them distract us from the new information the Federal Reserve was forced to release. Even if WikiLeaks reveals documents from inside a large American bank, as huge as that could be, it will most likely pale in comparison to what we just found out from the one-time peek we got into the inner-workings of the Federal Reserve. This is the Wall Street equivalent of the Pentagon Papers.
I’ve written many reports detailing the crimes of Wall Street during this crisis. The level of fraud, from top to bottom, has been staggering. The lack of accountability and the complete disregard for the rule of law have made me and many of my colleagues extremely cynical and jaded when it comes to new evidence to pile on top of the mountain that we have already gathered. But we must not let our cynicism cloud our vision on the details within this new information. [Read more…]
Many Americans believe that the 2008-2009 downturn never ended.
The U.S. has entered a second recession. [Note: That this would happen has been obvious to anyone paying attention. See this and this.] It may not be as bad as the first. Economists say that the Great Recession began in December 2007 and lasted until July 2009. That may be the way that the economy was seen through the eyes of experts, but many Americans do not believe that the 2008-2009 downturn ever ended. A Gallup poll released in April found that 29 percent of those queried thought the economy was in a “depression” and 26 percent said that the original recession had persisted into 2011.
To better understand how the European Union really came about so as to put Mr. Farage’s speech into context, read this outstanding report by Andrew Gavin Marshall, a research associate with the Centre for Research on Globalization –
Here is a snippet –
On the event of David Rockefeller’s 90th birthday, James Wolfensohn, speaking at the Council on Foreign Relations, stated:
[T]he person who had perhaps the greatest influence on my life professionally in this country, and I’m very happy to say personally there afterwards, is David Rockefeller, who first met me at the Harvard Business School in 1957 or ‘58… [At the beginning of the 20th century] as we looked at the world, a family, the Rockefeller family, decided that the issues were not just national for the United States, were not just related to the rich countries. And where, extraordinarily and amazingly, David’s grandfather set up the Rockefeller Foundation, the purpose of which was to take a global view. [Read more…]