Free Iraq

The US's occupation of Iraq will see to it that the Lion of Babylon rises again .. سنـُبعـَث من جَديد ، وإلى ضَـيـرِهِـم
Iraq'scover72dpi Iraq'scover72dpi

Iraq's Nuclear Mirage ... سَراب السلاح النووي العراقي

Unrevealed Milestones in the Iraqi National Nuclear Program: 1981-1991

معالم وأحداث غير مكشوفة في البرنامج النووي الوطني العراقي 1981-1991

CoverFront CoverFront

Tuesday, October 07, 2008

The nitty-gritty of the US financial meltdown

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Wall Street’s Shadow Market October 6, 2008
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US Economy Collapsing October 5, 2008
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PS:
"Executives at American International Group Inc. (AIG) hid the full range of its risky financial products from auditors as losses mounted, according to documents released Tuesday by a congressional panel examining the chain of events that forced the government to bail out the conglomerate.
The panel sharply criticized AIG's former top executives, who cast blame on each other for the company's financial woes.
"You have cost my constituents and the taxpayers of this country $85 billion and run into the ground one of the most respected insurance companies in the history of our country," said Rep. Carolyn Maloney, D-N.Y. "You were just gambling billions, possibly trillions of dollars.""

Congress scolds former AIG executives over crisis, October 7, 2008 (trillions, not millions, indeed)
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Did somebody not tell you so?
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How the markets really work (from 2007)
"How did these comedians see it coming when financial reporters did not?"
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Shocking Video Unearthed - Democrats in their own words Covering up the Fannie Mae, Freddie Mac Scam that caused our Economic Crisis (from late 2004)
"Why should we have confidence in you as regulators?", "You are trying to fix something that is not broken", ... eh?
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See The Subprime Primer (PowerPoint) in a previous posting here. March 11, 2008

And back in 1997:

"In 1997, Brooksley Born warned in congressional testimony that unregulated trading in derivatives could "threaten our regulated markets or, indeed, our economy without any federal agency knowing about it." Born called for greater transparency -- disclosure of trades and reserves as a buffer against losses.
Instead of heeding this oracle's warnings, Greenspan, Rubin & Summers rushed to silence her. As the Times story reveals, Born's wise warnings "incited fierce opposition" from Greenspan and Rubin who "concluded that merely discussing new rules threatened the derivatives market."

The Woman Who Could Have Prevented This Financial Mess Was Silenced by Greenspan, Rubin and Summers October 11, 2008

If you think you lost money September 21, 2008 "A chart on Sunday showing the change in the value of shares that chief executives held in their financial companies from January 2007 through Friday erroneously included one former executive. Henry M. Paulson Jr., who was chief executive of Goldman Sachs and is now the Treasury secretary, sold his holdings in Goldman upon joining the Bush administration in 2006 — a point The Times correctly reported on Saturday. Mr. Paulson did not hold $523.5 million worth of the company’s stock as of Friday." What a relief!


Comments:
Thursday [October 9] is D-Day
 
Video (12 min.), Riz Khan - Naomi Wolf - 16 Sep 08 - Part 1

Video (11 min.), Riz Khan - Naomi Wolf - 16 Sep 08 - Part 2
 
Video (brief), U.S. Debt Too Big for National Debt Clock: The National Debt Clock, launched in 1989 when the nation’s debt was less than $3 trillion, cannot keep pace with the growing national debt, now at more than $10 trillion.
 
And, at position no. 188 . . .
Rank Order - Current account balance (CIA Factbook) (The Emperor has no - repeat, NO - clothes)
 
A Letter to President Bush: Mr. President, I am writing to you on a matter of grave importance. It’s hard to express how deep the humanitarian crisis in Iraq today. There are nearly 3 million Iraqi refugees living in poverty in surrounding countries. Another 2 millions are internally displaced. Those who lucky not to be forced out of their houses are living in darkness because the electricity generated now is less than that before the fall of Baghdad more than 5 years ago.

To compound the misery of the Iraqi people your friends, Talabani and Maliki, are starving the civilian population of Iraq. ...

No doubt you know the Iraqi government has accumulated more than 80 billion dollars deposited in US banks. They have the money to help the poor Iraqi refugees. It is just that your friends do not give a damn. They are busy running their corruption racket. For two years in a row Iraq occupied the top of the list of the most corrupt governments ahead only of the war lords run Somalia and the military Junta in Myanmar.
 
Video (3 min.), The Bubble Man
 
An E-Mail to a Member of the Research Team at Goldman Sachs: I believe in death penalties for private corporations and partnerships. My vote for one of the first to be executed is Goldman Sachs.

My plan for bailing out the country would include asserting common law offsets against the assets of the NY Fed member banks and all of their partners and employees who benefited up to an amount sufficient to repay $4 trillion missing from the US government, to fund losses caused by the manipulation of the precious metals markets and to fund claims of fraudulent inducement and fraud on mortgages and mortgage securities. To fund the offsets, I would propose to seize the offshore and onshore assets of those who created the mortgage bubble and derivatives mess in the first place.

Frankly, I see no reason why millions of poor people around the world should pay a global tax through the dollar and US treasury and agency securities for which the American people are liable, so you and your colleagues can continue to live in comfort and luxury without concern that you will be held accountable to the same standards of enforcement applied to the people who live in the communities wrecked by the mortgage, money laundering and financial fraud that made you and your clients so powerful.

It seems to me if anyone should lose their business, jobs and home, it is you and your colleagues.
 
12 August 2002 -
The Myth of the Rule of Law: or How the Money Works (Very l o n g, and VERY appropriate)
 
Wayne Madsen Report (in full) -
October 8-10, 2008 -- FEMA sources confirm coming martial law: WMR has learned from knowledgeable Federal Emergency Management Agency (FEMA) sources that the Bush administration is putting the final touches on a plan that would see martial law declared in the United States with various scenarios anticipated as triggers. The triggers include a continuing economic collapse with massive social unrest, bank closures resulting in violence against financial institutions, and another fraudulent presidential election that would result in rioting in major cities and campuses around the country.

In addition, Army Corps of Engineer sources report that the assignment of the 3rd Infantry Division’s 1st Brigade Combat Team (BCT) to the Northern Command's U.S. Army North is to augment FEMA and federal law enforcement in the imposition of traffic controls, crowd control, curfews, enhanced border and port security, and neighborhood patrols in the event a national emergency being declared. The BCT was assigned to duties in Iraq before being assigned to the Northern Command.

On April 3, 2008, WMR reported on a highly-classified document regarding the martial law scenario: WMR has learned from knowledgeable sources within the US financial community that an alarming confidential and limited distribution document is circulating among senior members of Congress and their senior staff members that is warning of a bleak future for the United States if it does not quickly get its financial house in order. House Speaker Nancy Pelosi is among those who have reportedly read the document. The document is being called the "C & R" document because it reportedly states that if the United States defaults on loans and debt underwriting from China, Japan, and Russia, all of which are propping up the United States government financially, and the United States unilaterally cancels the debts, America can expect a war that will have disastrous results for the United States and the world. "Conflict" is the "C word" in the document. The other scenario is that the federal government will be forced to drastically raise taxes in order to pay off debts to foreign countries to the point that the American people will react with a popular revolution against the government. "Revolution" is the document's "R word.
 
Fed: Emergency cut: Fed joins 5 central banks - cuts 1/2 point and cites 'intensification' of crisis.
 
The woman who nearly stopped the war
 
Stephen Harper: Bulking up Pentagon North
 
Secrets of Iraq's Death Chamber: Prisoners are being summarily executed in the government's high-security detention centre in Baghdad
 
A Crisis Made in the Oval Office
 
New TASER Weapons Produced For Crowd Control
 
Video (11 sec.), McCain: Vladimir Putin is the President of Germany?
 
New U.S. intelligence report warns 'victory' not certain in Iraq: U.S. officials familiar with the new National Intelligence Estimate said they were unsure when the top-secret report would be completed and whether it would be published before the Nov. 4 presidential election. (The answer is obvious.)
 
Video (10 min.), U.S. Army prepares to invade U.S.
 
Israeli best seller breaks national taboo :: Idea of a Jewish people invented, says historian: An expert on European history at Tel Aviv University . . . argues that the Jews were never exiled from the Holy Land, that most of today’s Jews have no historical connection to the land called Israel and that the only political solution to the country’s conflict with the Palestinians is to abolish the Jewish state.
 
Wayne Madsen Report (excerpt) -
October 10-11, 2008 -- WMR in Nepal: ... The developments in Nepal bode well for progressive and labor movements around the world.

Nepal is writing a new Constitution that will emphasize human rights, freedom of the press, civil liberties, religious freedom in a strictly secular framework, and worker, farmer, and minority group rights.

WMR will also be investigating further the June 1, 2001 mass murder of Nepal's late royal family, an act that was successfully protrayed by the world's corporate media as the result of a love-lorn Crown Prince shooting his entire fmaily in a fit of rage over his desire, rejected by his mother the Queen, to marry a commoner. Most Nepalis know this story was false. However, it took off in the world's media and any other explanation, including the actual one reported by WMR that the regicide was the result of a joint Indian-CIA coup d'etat, is dismissed as a "conspiracy theory."

The acceptance of the official story would portend another "official story" some three months later: that 19 Arab hijackers with box cutters brought down in a matter of moments America's multi-trillion dollar defense and air traffic control systems. ...
 
The Holocaust Blackmail Game-Boy: Dictatorial governments and Democratic governments lie as a matter of routine. In the first case it is necessary for the people to believe that things are a certain way so that the ruling authority is not challenged by popular revolt. The truth must remain hidden or be otherwise defined. In the second case, when two seemingly opposing parties contend for control, it is necessary to paint yourself in one light and your opponent in another.

I watched the Obama/McCain debate the morning after. It was interesting to note that both men wanted the voters to know that Iran is evil; that Hamas and Hezbollah are terrorist organizations and that Israel is a strong and devoted ally of the United States. Never mind what just got uncovered in Yemen. Never mind Israel’s involvement in the 9/11, 7/7 and Madrid train station attacks. Never mind all of the false flag actions. Never mind the attack on the U.S.S. Liberty. Never mind the billions flowing out of the American economy right this minute into Israeli banks. Never mind the wars they orchestrated against Afghanistan and Iraq. Never mind their creation of Homeland Security or the theft of the last two presidential elections. Never mind an endless litany of offenses by Israel against the United States and nations across the world from Lebanon to Georgia and on and on but never mind… Israel is America’s good buddy.

How it looks to me is that there is no nation on Earth causing more trouble around the globe than Israel. At the same time, Israel and her Zionist controllers are hard at work taking away everyone’s freedom around the world to speak their mind. People are being thrown into prison for questioning numbers and circumstances about her beloved and sacred cash-cow holocaust for which we now have McHolocaust museums and theme parks world wide that rival any franchise around.

I’ve come to believe that the truth is anti-Semitic even though most of the Jews in Israel are not Semitic to begin with …although the Palestinians are. Here is what the State Department defines as anti-Semitic; 1. Any assertion that the Jewish community controls government, the media, international business and the financial world is anti-Semitic. 2. Any strong anti-Israel sentiment is anti-Semitic. 3. Virulent criticism of Israel’s leaders, past or present, is anti-Semitic. 4. Criticism of the Jewish religion or its religious leaders or literature, especially the Talmud and the Kabala is anti-Semitic. 5. Criticism of the US government and congress for being under the influence of the Jewish/Zionist community, including AIPAC, is anti-Semitic. 6. Criticism of the Jewish/Zionist community for promoting Globalism, [the New World Order] is anti-Semitic. 7. Blaming Jewish leaders and their followers for inciting the Roman crucifixion of Christ is anti-Semitic. 8. Diminishing the 6 million figure of the holocaust victims is anti-Semitic. 9. Calling Israel a racist state is anti-Semitic. 10. Asserting that there exists a Zionist conspiracy is anti-Semitic. 11. Claiming the Jews and their leaders created the Bolshevik revolution in Russia is anti-Semitic. 12. Making derogatory statements about Jewish persons is anti-Semitic.
 
Another Israeli West Bank Land Grab Scheme
 
Derivatives Bloodbath
 
Market Take from Cartoonist Eric G. Lewis
 
Who Got Nailed on Lehman's Credit Default Swaps?
 
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