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Jul 2, 2009

Rolling Stone expose: Goldman Sachs behind every market crash since 1920s

Goldman Sachs has played a crucial role in creating every market bubble since the 1920s -- and has profited from not only the bubbles, but from the crash that followed as well, says a new expose in Rolling Stone magazine.

An article in the July 9-23 issue of the magazine, written by Matt Taibbi, lists five asset bubbles that the 140-year-old investment bank helped create -- and one that Taibbi asserts the firm is currently working to make happen. WRH permalink

US intelligence sent Afghan mercenaries into Iraq, to attack Iraq’s civilians and military

"Video interview here.

Investigative journalist Wayne Madsen in the US claims American intelligence sent Afghan mercenaries into Iraq, in order to attack the country’s civilians and military personnel.

Madsen says the Afghans were recruited from the Taliban and were paid for their services.
“A very credible Western intelligence source that was stationed in Iraq in 2007 reports that during that year a 40 foot long tracker trailer was stopped in Baghdad by Iraqi police officers. When they looked in at the back of the trailer they found 30 to 40 Taliban “guerrillas” who said they were brought in by the US to stir up trouble in Iraq, to attack civilians and coalition forces“. Read more

According to the journalist, when the Iraqi police attempted to detain them for further questioning the US military commanders told them they let them go.

Why US Economic Collapse is Likely Imminent in figures

Excerpts from www.arbitraryvote.com - June 30, 2009:

As the above U.S. Government Accountability Office graph is outdated from 2008, here are a few important points to note:

  1. The graphed values are based on the $43 trillion low-end estimate as of 2008. There are several other estimates all the way up to $102 trillion.
  2. Since this graph was created, there are already significant increases required given the recently reported acceleration of the social security shortfall.
  3. Increasing interest rates beyond 2008 projected levels are likely to add to the debt beyond what is stated here.
  4. Likely slower GDP growth will increase the percentage of GDP stated here.

Healthcare reform is an attempt to ease the blow of the coming Medicare debt tsunami. While it is possible that this will have some medium-term effect on the debt outlay (to the detriment of healthcare quality, of course), on the contrary it is also quite possible that it will quickly add cost/debt, and regardless, the timing for these changes to take effect will have little impact for several years.

Debt Comparison to U.S. GDP

Below is a government-created graph of U.S. public debt (i.e. not including intragovernmental holdings, which bring the current debt total to $11.4 trillion) projections as a percent of GDP through the coming decades.

Graph from a 2008 U.S. Government Accountability Office report

As the above U.S. Government Accountability Office graph is outdated from 2008, here are a few important points to note:

  1. We have already exceeded debt that is 50% of GDP and we are moving quickly past this level given our unexpectedly large current and projected budget deficits.
  2. The data line must be shifted significantly to the left given the recently reported acceleration of the social security shortfall.
  3. Increasing interest rates beyond 2008 projected levels are likely to add to the debt beyond what is stated here.
  4. Likely slower GDP growth will increase the debt percentage of GDP stated here.
Read all here

China wants a new reserve currency (for next weeks meeting G8), dollar falls, and gold surges

[The end of US $ hegemony would amount to nothing less than a world revolution]

July 1 (Reuters) - China has asked to debate proposals for a new global reserve currency at next week's Group of Eight summit in Italy and the issue could be referred to briefly in the summit statement, G8 sources said on Wednesday
more: http://www.reuters.com/article/usDollarRpt/idUSLAG00356720090701

And more: China Plans to Start Yuan Settlement With Asean Soon (Update3)
June 30 (Bloomberg) — China may soon allow companies in its southern provinces of Yunnan and Guangxi to use yuan to settle cross-border trade with Southeast Asia to reduce foreign- exchange risks, a government official said.

The scheme will protect exporters from swings in currencies and help promote trade with the 10-nation Association of Southeast Asian Nations, Nong Rong, vice secretary general at the China-ASEAN Expo, said today. The trade fair, sponsored by China and Asean countries, has been held annually since 2004 in the city of Nanning, capital of Guangxi province.

“Preparation work for the pilot programs are progressing smoothly,” Nong, also deputy head of the Guangxi government bureau organizing such exhibitions, told reporters in Nanning. “Some companies that were deterred by foreign-exchange risk may now seek to expand overseas as the risks have been reduced.”

China, the world’s third-biggest economy, is seeking to make it easier for companies to do business in yuan and to expand trade with so-called Golden Triangle nations after the global recession choked sales to the U.S. and Europe. Chinese officials, including President Hu Jintao, have called for reducing its dependence on the dollar and the creation of a new global reserve currency.

The People’s Bank of China has agreed to provide 650 billion yuan ($95 billion) to Argentina, Belarus, Hong Kong, Indonesia, Malaysia and South Korea through so-called currency- swaps. Yesterday, the central bank signed an agreement with Hong Kong to allow the settlement of cross-border trade in yuan. More…

The “Spirit of Humanity" seized by Israel

By Paul Craig Roberts - July 01, 2009 - "Information Clearing House"

On June 30, the government of Israel committed an act of piracy when the Israeli Navy in international waters illegally boarded the “Spirit of Humanity,” kidnapped its 21-person crew from 11 countries, including former US Congresswoman Cynthia McKinney and Nobel Laureate Mairead MaGuire, and confiscated the cargo of medical supplies, olive trees, reconstruction materials, and children’s toys that were on the way to the Mediterranean coast of Gaza. The “Spirit of Humanity,” along with the kidnapped 21 persons, is being towed to Israel as I write.

Gaza has been described as the “world’s largest concentration camp.” It is home to 1.5 million Palestinians who were driven by force of American-supplied Israeli arms out of their homes, off their farms, and out of their villages so that Israel could steal their land and make the Palestinian land available to Israeli settlers.

What we have been witnessing for 60 years is a replay in modern times, despite the United Nations and laws strictly preventing Israel’s theft of Palestine, of the 17th, 18th, and 19th century theft of American Indian lands by US settlers. An Israeli government spokesman recently rebuked the President of the United States, a country, the Israeli said, who stole all of its land from Indians, for complaining about Israel’s theft of Palestine. I knew the “Spirit of Humanity” would fall to Israeli piracy the minute I received on June 25 from an official of an Israeli peace organization a “public advisory” that the government of Cyprus had withheld permission for the “Spirit of Humanity” to leave for Gaza. The US State Department had advised that “The Israeli Foreign Ministry informed U.S. officials at the American Embassy in Tel Aviv that Israel still considers Gaza an area of conflict and that any boats attempting to sail to Gaza will not be permitted to reach its destination.” The “Spirit of Humanity” obtained permission to leave Cyprus when all aboard signed a waiver absolving Cyprus of all responsibility for the crew’s safety at the hands of the Israelis.

As President Obama has called for humanitarian aid to be sent to Gaza, and as the International Red Cross has damned the inhumanity of Israel’s blockade of Gaza, the question that immediately comes to mind is why did not the United States send sufficient US Navy escort to see the “Spirit of Humanity” safely through international waters to Gaza? We send ships against Somalian pirates, why not against Israeli ones? We all know the answer. The US talks a good “human rights” game, but never delivers--especially if the human rights abuser is Israel. After all, Israel owns the US Congress and President Obama. Israel even has an Israeli citizen and former member of the Israeli Defense Forces as the Chief-of-Staff in Obama’s White House. Israel owns millions of American “Christian Zionists” and “rapture evangelicans.” When it comes to Israel, the American government is a puppet state. It does what it is told. Macho Americans might stand tall, but not when Israel snaps its fingers. Israel, of course, will get away with a mere act of piracy. After all, Israel has been getting away with its war crimes and violations of international law for 60 years. If the UN tries to do anything, the US will veto it, as the US has done for decades.

What will happen to the kidnapped foreign nationals? Most likely they will be released and sent back to their respective countries. Israel, of course, will keep the stolen “Spirit of Humanity” to foreclose any further attempts by human rights activists to run Israel’s inhumane blockade of Gaza. On the other hand, Israel might declare its captives to be terrorists on the ground that the Gazans elected in a free election Hamas as their government. Hamas, unlike Israel, is declared to be a terrorist organization by the puppet American State Department in Washington. Thus the human rights activists onboard the “Spirit of Humanity” are aiding and abetting terrorists by delivering goods to them. The US Department of Justice (sic) prosecutes American citizens and charities for sending aid to Palestinians on the grounds that Palestinians, if not everyone a terrorist, are governed by terrorists. I wouldn’t be surprised if a Nobel Laureate and a former member of the US House of Representatives, along with the rest of the crew, are handed over to the Americans for indefinite detention and for torturing and waterboarding in the American torture facility at Bagram. I am certain that “Homeland Security” and the US Government are desperate to be rid of all of critics, and knocking off a Nobel Laureate and a member of the House sets a precedent for getting rid of the rest of us.

Meanwhile, California, which has become a failed state, has been denied bailout money from Washington. Israel, which has been a failed state for 60 years, can, unlike the American state of California, always count of Washington to deliver the money and the weapons to keep Israel going. The same week that “our” government in Washington told the Governor of California “not one red cent,” President Barak Obama handed over $2.775 billion to Israel. Online Journal (June 29) reported that the handover to Israel of the unemployed Americans’ tax dollars took place in a “tiny Capitol room” to which members of the press were denied access. I mean, really, who wants the media writing about US taxpayer dollars for Israel’s nuclear weapons while Americans are being kicked out of their homes. Not that, of course, the “Christian” supporters of Israel would mind.

Unlike every other recipient of US military largesse, Israel is permitted to bypass the Pentagon and to deal directly with US suppliers. Consequently, the Israel Lobby’s influence multiplies, because military suppliers fight for Israel in congressional committees in order to get Israel’s business. This lets Israel turn the screws on Iran. According to Grant F. Smith writing in Online Journal, Republican US Representative Mark Steven from Illinois has received $221,000 in campaign contributions from Israel political action committees (PACs). Therefore, it was a sure thing that he would introduce legislation preventing the Import-Export bank from providing loan guarantees to countries doing business with Iran. http://onlinejournal.com/artman/publish/article_4853.shtml

Americans think that they are a superpower, but in fact they are a stupor-power. A puppet state if truth be known. There is a great deal of evidence, even in Time magazine that Israel is a child abuser. “God’s Chosen People” routinely abuses captured Palestinian children. The Israelis also abuse Palestinian children by shooting them down in the streets. Don’t take my word for it. The Geneva-based Defense for Children International says, according to Time Magazine, that “the ill-treatment and torture of Palestinian child prisoners appears to be widespread, systematic and institutionalized, suggesting complicity at all levels of the political and military chain of command.” According to Time Magazine, “Often, children suffer lasting traumas from jail. Says Saleh Nazzal from the Palestinian Ministry of Prisoner Affairs, ‘When soldiers burst into a house and drag away a child, he loses his feeling of being protected by his family. He comes back from prison alienated from his family, his friends. They don’t like going back to school or even leaving the house. They start wetting their beds.’ Says Mona Zaghrout, a YMCA counselor who helps kids returning from prison: ‘They come out of prison thinking and acting like they are men. Their childhood is gone.’ And they often turn to another father figure--the armed militant groups fighting the Israeli occupation.’”

And so it goes. There’s no money for California, or for Americans’ health care, or for the several million Americans who have lost their homes and are homeless, because Israel needs it. Israel needs the American taxpayers’ money so that it can create even more enemies, and, therefore, need more American money to spend with the American armament industries to oppress more Palestinians and to make more enemies, requiring more American money to protect Israel from its folly and its evil. And the brainwashed American public goes along year after year." Source

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Protect Your ASSets: Buy Gold or Silver NOW - If you wait you will be late.
(He who panics first, just may salvage something.