The Libyan Soldiers: The True Heroes of NATO's War

From Voltaire Network, 27 August 2011
By Glen Ford

While NATO has proven its capacity to kill thousands of Libyan soldiers from the skies, it has failed to convey respectability to the marauding "rebels" under its wing, who pose as freedom fighters. The latter, however, should not get too used to their spot in the limelight, which is sure to wane as soon as their usefulness as NATO stooges eventually dries up. Meanwhile, for this author, the incinerated bodies of her soldiers have already secured Libya’s place in history.

Pro-Gadaffi troops during the battle for Ajdabiyah, March 2011.

Photo: Reuters

The story is not over – not by a long shot – but the saga of the Libyan resistance to the superpower might of the United States and its degenerate European neocolonial allies will surely occupy a very special place in history.

For five months, beginning March 19, the armed forces of a small country of six million people dared to defy the most advanced weapons systems on the planet, on terrain with virtually no cover, against an enemy capable of killing whatever could be seen from the sky or electronically sensed. Night and day, the eyes of the Euro-American war machine looked down from space on the Libyan soldiers’ positions, with the aim of incinerating them. And yet, the Libyan armed forces maintained their unit integrity and personal honor, with a heroism reminiscent of the loyalist soldiers of the Spanish Republic under siege by German, Italian and homegrown fascists, in the late 1930s.
The Germans and Italians and Generalissimo Franco won that war, just as the Americans, British, French and Italians may ultimately overcome the Libyan army. But they cannot convey honor or national legitimacy to their flunkies from Benghazi, who have won nothing but a badge of servitude to foreign overseers. The so-called rebels won not a single battle, except as walk-ons to a Euro-American military production. They are little more than extras for imperial theater, a mob that traveled to battle under the protective umbrella of American full spectrum dominance of the air. They advanced along roads already littered with the charcoal-blackened bodies of far better men, who died challenging Empire.
One thing is sure: the Americans and Europeans have never respected their servants. The so-called rebels of Libya will be no different.
Washington, Paris and London know perfectly well that is was their 18,000 aircraft sorties, their cruise missiles, their attack helicopters, their surveillance satellites and drones, their command and control systems, their weapons, and their money, that managed to kill or wound possibly half the Libyan army. Not the rabble from Benghazi.
The rebels should not take too seriously being fawned over by the ridiculous hordes of corporate media tourists that have come to Tripoli to record the five-month war’s finale. They are highly paid cheerleaders. And, although it may appear that they are cheering for the rebels, don’t be fooled – at the end of the day, the western corporate media only cheer for their own kind. They are celebrating what they believe is a victory over the Libyan demon they have helped to construct in their countrymen’s minds.
Next year, rebel, that demon might be you. Or next year, it might be many Libyans, including those who were no friends of Col. Moammar Gaddafi. The Americans treat their native minions like children in need of supervision – and there is a certain logic to this, since whoever would entrust his nation’s sovereignty and resources to the Americans is, surely, either exceedingly stupid, or hopelessly corrupt. But Libya’s honor and her place in history has already been secured by a small African army that held out nearly half a year against the NATO barbarians.

CONFIRMED: Libya War is CIA Op 30 Years in the Making

By Tony Cartalucci
Prisonplanet.com - Aug 27, 2011


Alternative media activist David Icke, who has been warning about the false nature of the “Arab Spring” since it began over six months ago, has pointed out an astounding “flashback” regarding an August 3, 1981 Newsweek article titled, “A Plan to Overthrow Kaddafi.”
‘The details of the plan were sketchy, but it seemed to be a classic CIA destabilization campaign. One element was a “disinformation” program designed to embarrass Kaddafi and his government. Another was the creation of a “counter government” to challenge his claim to national leadership. A third — potentially the most risky — was an escalating paramilitary campaign, probably by disaffected Libyan nationals, to blow up bridges, conduct small-scale guerrilla operations and demonstrate that Kaddafi was opposed by an indigenous political force.”

….

Quite obviously this plan has been executed verbatim with the necessary addition of a NATO intervention to rescue the above stated “paramilitary” campaign from Libyan security forces – a contigency plan explicitly spelled out in another Wall Street-London subsidized, signed confession, Brookings Institution’s “Which Path to Persia?”

Using Military Force to Assist Popular Revolutions, page 109-110 (page 122-123 of the PDF): ”Consequently, if the United States ever succeeds in sparking a revolt against the clerical regime, Washington may have to consider whether to provide it with some form of military support to prevent Tehran from crushing it.” ”This requirement means that a popular revolution in Iran does not seem to fit the model of the “velvet revolutions” that occurred elsewhere. The point is that the Iranian regime may not be willing to go gently into that good night; instead, and unlike so many Eastern European regimes, it may choose to fight to the death. In those circumstances, if there is not external military assistance to the revolutionaries, they might not just fail but be massacred.
Consequently, if the United States is to pursue this policy, Washington must take this possibility into consideration. It adds some very important requirements to the list: either the policy must include ways to weaken the Iranian military or weaken the willingness of the regime’s leaders to call on the military, or else the United States must be ready to intervene to defeat it.”
….


The disinformation campaign began in February as overt, now verified lies were told to the public regarding both the nature of the uprising and the Libyan government’s reaction to it. As tank driving, jet flying battle hardened LIFG Al Qaeda mercenaries waged war against the Libyan army, the corporate media in tandem with NATO member states preparing to intervene, portrayed the uprising as peaceful placard waving activists being mowed down by machine gun fire and strafed by Libyan warplanes. Evidence now confirms no such atrocties took place, however the UN citing this intentional disinformation authroized NATO intervention.


The very nature of the Benghazi rebels has been deceptively presented to the public. In fact, they are a collection of extremists and mercenaries, many of whom had been fighting recently in Iraq and Afghanistan against US forces. These mercenaries, who have been backed by the CIA and MI6 for the last 30 years (see time line), are being portrayed as an “an indigenous political force” opposing Libya’s government. It has just been recently revealed that the rebel commander attempting to seize Tripoli is none other than Abdelhakim Belhadj, an Al Qaeda asset who was previously captured by in Malaysia, tortured by the CIA in Bangkok, Thailand in 2003, before being release back in Libya where he is now fighting on behalf of NATO.


Additional disinformation comes in the form of media attempts to portray Qaddafi as a rambling madman who despite the disparagement, has turned out to be one of the few heads of state speaking any truth at all regarding the conflict besieging his nation. From his earlier claims that the uprising was foreign backed Al Qaeda, to now verified claims that the rebellion was nothing more than a means to usher in a foreign occupation and the despoiling of Libya’s resources, he has been spot on.


As rebels loot his home and his compound in central Tripoli, he is now being disingenuously portrayed as an opulent tyrant who hoarded state resources at the cost of his population. Betraying the duplicity of this lie is the UN’s own Human Development Index which lists Libya as one of the most developed nations in Africa and is ranked higher than many other nations including Russia, Brazil, Saudi Arabia, and Malaysia. Quite obviously Libya’s oil wealth was put to good use, and as Libya has ensured the West’s nefarious corporate-funded NGOs were excluded from Libyan society, no other explanation for Libya’s development exists beyond the government’s own initiatives.


What we are witnessing in Libya is a concerted, admitted war of aggression by corporate-financier interests who have openly conspired to carry out a campaign of military and economic conquest throughout the Middle East (and beyond), including Northern Africa and specifically including Libya. From Wesley Clark’s 2007 speech, to Newsweeks’ 1981 article, we have been handed a signed confession that “our” governments are the true enemies of free humanity, masking their agenda with the thinnest veneer of moral justification, almost as if to insult the intelligence of so many who eagerly continue to empower them as they maliciously move forward. Once again, we must commit ourselves to identifying the corporate-financier interests truly driving this agenda, lurking behind the military and political leaders paraded before us as the executors of “international policy.” We must also commit to boycotting and replacing these corporate-financier interests as well as ending the recognition of any of the legitimacy they endlessly heap upon themselves.
_______--

Related:
Ron Paul Issues Statement on Libya

WikiLeaks cables expose Washington’s close ties to Gaddafi

[More Weird Counterterrorism-Terrorism "Coincidences"] Chapter: Utoya, Norway - Breivik Atrocites: The police were running an exercise

From Canspeccy:
Source: Aftonpost, August 26, 2011
Trente på Utøya-scenario 22. juli


Norwegian to English translation

Trained at Utøya scenario 22 July Only hours before Anders Behring Breivik began shooting children on Utøya, the police emergency squad concluded an exercise in which they enacted an almost identical situation.
AVANDREAS GROUND FOSS

Four days in advance, and also the same Friday that the [Breivik] attack was carried out, a trained police special unit carried out a terror attack exercise that corresponded almost exactly to the situation that hours later met the 22 police officers in the emergency squad on Utøya.

Aftenposten has confirmed from key sources in the management of the Oslo police that the exercise was terminated at 1500 hours that same Friday.

All officers from the emergency squad that participated in the government quarter of Oslo following the car bombing and later came ashore on Utøya and arrested Anders Behring Breivik had earlier that same day and in the previous days participated in training on a very similar scenario.

So did the police so far to stop the exercise until they had trained on the reality.

The training shall thereafter Aftenposten know, have gone straight into the met police in Tyrifjorden the same day: a mobile terrorist attack in which one or more perpetrators only goal is to shoot as many people as possible and then shoot the police when they arrive.

Chance would have it that way, says a key police source, who declined to quoted by name.

Massacre
Police special unit trains continuously. But every quarter, they train to different types of scenarios.
These are different scenarios police envisions might occur where the emergency squad must be inserted. There may be actions indoors, in cities or out in other environments.

According to police, this is a scenario they train on several times a year and has trained for several years, especially after some events in other countries.

26 minutes
The car bombing in the government quarter of Oslo occurred only 26 minutes after the emergency exercise ended.

At 17.30 staff of the Oslo police were told a shooting at Utøya.

The Emergency squad set out for the North Buskerud Police District, but at 18.02, six minutes before they arrived, they were advised to meet with local police at Storøya.

Seven people from the emergency squad and three officers from Nordre Buskerud Police District climbed into a 4.9 meter long police dinghy, but the boat was so heavily loaded that it began taking on water. The police then transferred to a privately-owned boat and headed for Utøya.
___________

Related:
Norway’s Terror as Systemic Destabilization: Breivik, the Arms-for-Drugs Milieu, and Global Shadow Elites - Peter Dale Scott
THE PEOPLE BEHIND THE NORWAY ATTACKS, AND 9 11

The Last Secret of 9/11 Truth: The 46 Drills, War Games, and Operations that Made It All Happen  - Webster G. Tarpley on the Kevin Barrett ShowThe Kevin Barrett Show
August 24, 2011download audio]
[download Chart of 46 Drills of 9/11]

[

Jim Willie: Panic and Anxiety Swirl a Storm

By Jim Willie CB, Golden Jackass August 25, 2011
Subscribe: Hat Trick Letter

Something big is going on in the United States in a sentiment change, an altered state of psychology, a growing sense of panic. My opinion is that the nation has entered the early stage of comprehension among the population of systemic failure. The most immediate measures are the rash of heavy selling down days in the US Stock market, the strong purchases in Gold, as well as the reactions to constant news of sovereign debt in trouble, and the big banks teetering. Several other softer measures have been noted, made overwhelming by their sheer numbers. A perception wave has taken hold of a toxic USEconomy, a toxic US financial sector, a toxic US housing sector, a toxic economic brain trust in the US towers. A sense of doom is creeping into the nation’s living rooms and board rooms, that the nation is in deterioration. Worse, they are realizing how US Federal Reserve is toothless, unable to address or treat the problems. The citizenry is not adept or gifted enough to conclude that the problem is national insolvency, whose errant prescription has been a flood of liquidity. But they sense something is horribly wrong, and worse, that no current treatment will fix anything. They detect the backfire of the blunt banker solution and the misfired futility of the federal government solution. Witness the rooted perception and horrifying awareness that the United States is moving gradually and unavoidably into a systemic failure. The perception is that neither governments nor bankers have any solutions to help the people, who must impose their own gold standard. The Gold price registered a new high over $1900 per ounce, this after mental midget clowns and propaganda wags in May pronounced the bull market as finished. Their opinions are worthless. Watch them vanish behind the tall shrubbery when Gold surpasses $2000 this autumn.
ROOT OF NATIONAL ILLNESS
In my view, the national illness is a toxic USEconomy dominated by pervasive profound grotesque insolvency. In the early part of the 2000 decade, a strong hint of near-term future failure was obvious. The USEconomy shed its industry to Asia since the 1980 decade. In the early years of last decade, the migration of factories was to China. In its place, the US consumers relied upon home equity withdrawal, blessed as good by the American economists and high priest of heretical ideology Alan Greenspasm. The hint to sound money economists such as the Jackass from the dependence shift was a clear signal of ruin in a few years, as in now. It came on time. In my view, the national illness is a toxic US financial sector dominated by pervasive insolvency and massive fraud. The FASB accounting rule change permitted grotesque falsification of the bank balance sheets, reflected in market capitalizations above zero. The value zero has been and still is more accurate, still is the price target. The big US banks continue to fight off the powerful forces of a housing market in resumed chronic decline, sovereign bonds overseas beset by heavy losses, and a spate of bond investor lawsuits that rack up. All attempts to limit lawsuit exposure have failed. Litigants line up in court like Wal-Mart shoppers on a big sale.Americans are awakening to the unfixable nature of the USEconomy and the broken fraudulent nature of the US financial sector.
The Achilles Heel, the broken leg, the ruined road, and the toxic field is HOUSING & MORTGAGES. The contaminated blood, the leaking gangrene into the circulation system, the sewer line in the water supply is BANKING & FINANCE. The USEconomy grew dependent upon the two-sided asset bubble. No resolution or remedy or liquidation means rotting flesh and gangrene on the body economic. Americans have noticed. The US banking system remains insolvent, worse each quarter from toxic assets. Home prices have resumed their decline, despite all incorrect announcements by banking, political, and economic leaders over public address propaganda loudspeakers. The crowd control devices are not working, as the people are deeply worried. The banks are plagued by an REO inventory bloat extended from home foreclosures, where they do not dare release all the homes onto the already bloated market for sale. The banks are peppered in attacks by bond investor lawsuits, which work to resolve the bond fraud from misrepresentation of mortgages packaged in AAA toxic bundles. They lost 30% to 60% in a matter of months and a few years. The banks have a dirty secret of hundreds of thousands of home loans operating in strategic default, whether the homeowners refuse to pay anything more on their mortgages, often demanding to see the proper title on the property. The news media will not cover this story. In every court challenge, the banks have lost the cases, resulting in the homeowners taking clear title with the loan fully forgiven. The newest threat to the banks is the next Option ARM wave, the second round of adjustable rate mortgage that will continue in a storm until 2013 ends. Americans are awakening to the unfixable nature of the USEconomy and the broken fraudulent nature of the US financial sector.
No meaningful home loan balance scheme conducted by the USGovt means the housing mass & mortgage connective tissue circle the toilet in a flush. The reason is simple. Home loan balance reductions would expose gigantic bond fraud in tracing the mortgage bonds to home loans with title registrations. It would result in exposure of Fannie Mae counterfeit bonds having circulated widely. It would result in forced bank asset writedowns amidst the pervasive accounting fiction at work on the balance sheets, blessed as good by the FASB. It would expose MERS as a fraudulent device to hold titles without legal standing. It would embolden half the nation into civil disobedience, as in outright refusal to pay banks on home loans. It would expose the nation as insolvent generally. It might interfere with some perverse national plan to use Fannie Mae as some devious device to become landlord to one third of the nation’s homes, a plan of collectivism that Karl Marx might approve. Americans are awakening to the unfixable nature of the USEconomy and the broken fraudulent nature of the US financial sector.
PANHANDLE DOCTRINE & PARASITE DOCTRINE
The tragedy that struck the US nation has a great connection to toxic economic thought from its economic brain trust. It is thoroughly toxic, corrupted, and destructive ideology woven in an acidic blanket with rampant impairment to working capital. It earns a D grade on economics effectiveness, and in fairness is not what Keynes prescribed. It is toxic thinking. It seems to have elevated the Voodoo Economics of the 1980 decade to the Fascist Business Model in the 2000 decade. The license to engage in fraudulent activity is engrained in the pact between big business (led by big banks) and the USGovt policy making groups which are dominated by Wall Street firms (led by Goldman Sachs). The summary line is vividly clear to astute adept students of economics: the United States no longer has any concept of capitalism, and has undergone three decades of capital destruction. The crescendo of the capital destruction has taken place in the last three or four years, whose climax tune is the shrill Quantitative Easing. The cast of American economists is wedded deeply to the notion of credit dispensation and monetary growth under the illusion of control. They do not comprehend capital formation anymore, relying instead upon what the Jackass calls with bitter intended mockery the Panhandle Doctrine applied to consumers, matched by a Parasite Doctrine applied to banks. If you give a street bum money, he will buy coffee and maybe a sandwich. The USEconomy is based upon coffee and sandwiches, not much more, as the consumer is given money in pockets and purses to spend. The depravity of economic thought is shocking. The stock market & housing sector (FIRE) replaced industry & factories with tragic outcome. FIRE means finance, insurance, and real estate, a great ironic moniker since the fires burned capital at a rapid rate.
A prevailing belief exists among American economists that if the consumer picks up, then industry will expand with big capital spending and job hires. The belief is entirely backwards, a symptom of American economist ignorance and stupidity. The consumer (street bum) relies upon tax breaks, reduced Social Security & Medicare contributions, extended jobless benefits, clunker car gifts, first time home buyer tax credits, and more. They are all examples of the Panhandle Doctrine from which the USEconomy have grown dependent upon. Observe the toxic American economist ideology. For banks, a parallel Parasite Doctrine hard at work has gutted the financial sector. The regular fare offered as examples as strategic crutches to a broken sector are sponsored USTreasury carry trade (aided steered by Interest Rate Swaps), betting on their own stocks lifted by phony FASB accounting rules, participation in USFed frequent flyer programs like the Money Market giveaways, flash stock trading (High Frequency Games) done with impunity, short stock sale bans (Goldman Sachs given an exemption), and naked selling of USTBonds (grandaddy fraud). See failures to deliver, buttressed by Interest Rate Swap artificial end demand that serves to cover the other end and qualify as a bonafide bucket shop.
Thanks to Aaron Krowne and his Mortgage Implode website, for the intrepid work on the mortgage market and recently on the USTreasury market. He provided the graph on Failures to Deliver on USTBonds. See the ML Implode article. The total is roughly $1 trillion in bond fraud, an ongoing figure. The story broke in mid-2009, only to disappear with organized suppression. The Wall Street firms lost their investment banking business, but found a fertile source of liquidity from naked short sales of USTBonds, whose buyers were the artificial factory of Interest Rate Swaps. Without this naked shorting line of liquidity, the Wall Street job cuts would have been much worse, equal to the London and European bank sector job cuts. The Parasite Doctrine has a poster boy project with these fraudulent sales given cover by the Securities & Exchange Commission, whose official ranks are filled by Wall Street henchmen.

THE CONFIDENCE GAME RUSE
The American public is told that confidence is the root cause of the absent woefully low business spending. The confidence took on damage after the vacant USGovt & USCongress budget deal and debt extension to be sure. But the true source of absent business capital investment is broad deep insolvency, the poor business risk, extending from the broken housing market, the wrecked banking sector, and the inadequate industrial base. The government finance requirements serve to crowd out the bond market, which in a normal system would rely upon the financial sector for capital formation, business development, and construction of platforms that offer job growth. In the US financial sector, the innovation is with carry trade speculation, exploitation of easy money facilities, and profound bond fraud, hardly the stuff of growth mechanisms. Big banks do not lend when they can reliably make money on the USTreasury Bond carry trade. The American corporate sector has responded to the liquidity flood, aka monetary hyper-inflation, and the corresponding acidic undermine to capital, by moving investment overseas. See Cisco, General Electric, and Hewlett Packard, which is instead raising a white flag to Asian PC makers. The most glaring consequence to the monetary policy, marred (not aided) by QE and QE-Lite and QE2 and Secret Global QE, has been the entire cost structure has risen, without benefit of rising incomes.
Furthermore check Economics 201, Chairman Bernanke. Low interest rates suppress the USEconomy, not stimulate it. Almost twice as much interest income is earned versus interest costs paid. The pensioners and retirees are struggling with inadequate income, spending less. The bond investors sought out higher yields in mortgage bonds, only to be burned by 25% to 40% losses in principal. Pension fund income is way down. Of course the motive has been to support and stimulate speculation in Wall Street, where the USFed primary loyalty lies, surely not with Main Street and business interests.
FEAR SETS IN, PANIC BEGINS, RUIN PERCEIVED
A confluence of major perceptual factors is flowing in the national mindset. Fear is setting in. The early stage of panic is evident. A growing perception of ruin can be spotted. People are responding to numerous high profile stories, each of which is important in painting a mosaic of extremes, none of which would have occurred in the 1990 decade. The chorus of crisis is loud and shrill. Here are some important events that the American public must examine.

• The broken USGovt budget and upcoming huger deficits. With tax receipts trending down, and the need for economic stimulus programs clear, the USGovt deficit next year will be larger, not smaller, despite what the errant Govt Accountability Office statement reads.
• The blatantly obvious USeconomic recession, whose billboard signs litter the highway, the latest being the Richmond Fed down 10% (called good), and the Philly Fed down 37 (could not be called anything but horrible). The Philly Fed forecast was minus 2 by the intrepid marketing prop carnival barker American economists.
• The EUR 850 billion bailout by the Euro Central Bank, intended to cover the mountain of Italian and Spanish Govt bonds. But the bailout will accomplish nothing, just like Greece, where numerous bank bond bandaids have been applied. And besides, the Germans have refused to offer any more bailout funds, calling Italy and Spain too big to bail out, quite properly.
• The creepy feeling of a global monetary system breakdown. The major currencies are being debased to such a grand extent that even the less gifted American public can notice. They see the onslaught of sovereign bonds overseas, and might harbor more distrust for USTreasury Bonds that the media reports. They might be buying gold & silver coins from the USMint, which cannot keep up with demand.
• The anticipated QE3 heresy is certain to continue. It has already come in Global QE form, as the Jackass expected. My forecast is that the USFed will formally support the US Stock market and violate its charter. But the move will be applauded and serve as the next heroin injection to the body economic, with certain additional capital destruction and rising cost structure.
• The Swiss and Japanese central bank futile actions, designed to halt their rising Franc and Yen currencies. The lesson learned is that all major central banks have turned toothless, their policies ineffective, wasteful, and destructive. The Competing Currency War is making all of them big losers. Their economies suffer.
• The pitiful paltry puny USTreasury long-term yield of 2.0% to 2.2% does not offer the American saver the proper incentive to save, nor the proper return on investment, certainly not an adequate yield to reflect the risk taken. The yield now stands at 7% to 8% below the true CPI rate.

SINKING INTO THE AMERICAN PEOPLE MINDSET IS THAT THIS IS 2008 ALL OVER AGAIN, BUT TWICE AS BAD, SINCE THE SOLUTION HAS FAILED AND TRUE REMEDY IS SEEN AS IMPOSSIBLE!!  The USGovt and USFed and Wall Street policy makers and league of Rasputins have thrown $3 trillion at the problem, have bailed out the big US banks, have conducted numerous liquidity programs, have made Swap Lines to Europe, have completed a few mickey mouse stimulus initiatives (clunker cars, first time home buyers), have extended but terminated aid to states, have extended jobless benefits, have given SS/Medicare relief, have operated gigantic debt monetization programs (QE’s), but the USEconomy is rolling over into a recession anyway. The confirmation of the recession is the many denials with shorter frequency between denials
THE SHAPE OF QE3
As the Jackson Hole Conference is set to begin in the spectacular picturesque mountains of Wyoming, anticipation and anxiety rise. The Grand Tetons serve as a fitting location to announce the renewed dependence from the USFed teats, the monetary spigot. Where the spigot is directed remains the main question in debate. Given the robust supposed USTreasury Bond rally, it hardly seems suitable to direct QE3 toward more USTBond buying, unless they wish to avoid USTreasury auction failures. The ultra-low yield combined with ultra-high supply makes for extremely high risk. Bond investors might not show up at all. A failed auction would be highly embarrassing as a event after the highly publicized bond rally, an irony worthy of Rolling Stone exposure or a Saturday Night Live comedy segment. The USGovt minions and Wall Street made men had crowed that the bond rally contradicted the Standard & Poors downgrade for the USGovt debt. My forecast is that the QE3, when it comes, will be designed and intended openly to support the Stock market. It will not arrive this week. It will arrive with full bore announcement in response to the next round of deep US stock market declines. History will be made. The spin on the USTBond rally to 2% on the 10-yr is deafening and deceptive. We are told the bond market anticipates QE3 but that is patently false. The bond market smells with great dread the next USEconomic recession, or more accurately, recognition of the ongoing chronic powerful recession that began in 2008 and never ended. The bond market smells unfixable recession, all current tools having failed. The bond market detects correctly that the US Stock market from mid-2010 has been propped by QE initiatives, now absent.
The irony, intrigue, and corruption is both bizarre and macabre. The Standard & Poors President Deven Sharma has decided to step down only three weeks after the agency downgraded the US credit rating. What a predictable move. The post will be occupied by Douglas Peterson, chief operating officer of Citibank, to take effect on September 12th. Business as usual on Wall Street. The S&P lead role will be in capable hands. One might wonder if the outgoing officer will be charged with child pornography or a rape in a hotel. That event might not be needed.
GOLD MAKES RECORD HIGHS
This week has been tumultuous. The best summary in my view is to conclude that the Gold price set a record high, and fully revealed what direction it will take this autumn. In the low volume vacation dominated days of summer, an opportunity to engineer a selloff has begun in earnest. Gold has gone down to $1765 and Silver to $40 flat, still way up on the year. Hats off to Ben Davies, who has been impressively accurate in his precious metals forecasts. He nailed the silver forecast in April, expecting a steep pullback to $35. We saw it!! In June, when Gold was trading in the low $1500 level, Davies boldly forecasted that Gold would break above $2000 by yearend 2011. The strong upward moves seen so far in August have captured global attention. After action last week, Davies fine tuned his 2011 gold call, stating he expects Gold to reach $2100 by the end of December after first a correction to $1675. Today we saw it!! The hefty pullback will lose some faithful followers, but offer savvy investors a great chance to add to their positions. The cartel is busy making countless grateful Chinese, Indians, and Asians who have not stopped buying precious metals in defense of rapid inflation. They see the American bankers as the inflation villains. The sudden pullback has assured the last fire sale before the autumn gold bull romp, a great trampling event to come. It is written, it will happen. See the King World News interview.

The compromised clowns have been busy citing how the Gold price is $150 to $200 too high based upon price inflation, or even 50% over-valued based on some cockeyed Fed Business Model. They overlook the broken distorted market is the USTBonds, supported by powerful usage of Interest Rate Swaps, aided by USFed monetization still and the migration from stocks to bonds. The volatile moves in the Gold market can be interpreted with high predictability. The big down move today signals even bigger upward moves in the next few months. The money is moving quickly today on Wednesday. The 10-yr USTreasury has rallied on the TNX from 2.14% to 2.21% as a decent move. The crude oil price is up from $85.40 to $86.1 as a modest move. Nobody can deny that panic has hit the stock market, as the recession can be seen without rose colored glasses. Expect much more debasement of the USDollar, as tax revenues fall and stimulus costs rise. The bigger USGovt deficits must be financed, during a truly hostile climate. The complete ruin of major global currencies is in progress, not stoppable. Money is being ruined to such an extent that people are bewildered, wondering what constitutes money if sovereign bonds are being attacked and losing value. The tainted USTreasury Bond market has become almost a source of great amusement. The entire major currency market is in turmoil. See the Swiss Franc, the Japanese Yen, and their rapid rise several standard deviations above their norms or trendlines. Havoc has taken root.
The Libyan chapter will be properly told in a year or two. Tyrant Qaddafi wanted to install a Gold Dinar for North African usage, a similar sin committed by Saddam Hussein. These guys never learn that a challenge to the USDollar is met with armed resistance. The US & UK forces entered the fray. The secondary goal might have been to take oil producing capacity offline, thus lifting the crude oil price. Big Oil interests do not want the global recession to rock the crude oil price too much. The other benefits have been the $50 billion in funds frozen solid in US & London banks. Another $50 billion is frozen in European banks. Expect it to remain out of reach by Libya’s new leaders, despite talk. It is too badly needed within the Anglo banking system. See Oslo. The search is on not only for Qaddafi, who is surely comfortable somewhere in a desert bunker, but also well fed, and well medicated with his usual fare of psycho-tropic drugs. The hunt is also on for Libyan gold bullion. The Anglo bankers need it, since the COMEX and LBMA are just about bone dry, and the big US & UK banks are insolvent on the edge of failure. See their Credit Default Swap rates on debt insurance. For the greater good of the Anglo Empire, gold must be found and secured and locked up in the banking system, regardless of the propaganda messages put forth.
Prepare for $2100 gold by January, and $60 silver by January. The last open door is being made possible in the final days of August. Like last year, the months of September through January will be ones for the history books. The start of big bank failures in the United States, London, and Europe should add to the gold run. Contagion has hit Italy, Spain, and France (the newest PIGS lookalike). The breakdown will be broad, deep, and frightening in the next few months. The twisted thinking is probably that gold must be brought down as much as possible, to make a lower base before the next gigantic upward moves beyond the $2000 level and probably past $2100. The gold breakout will capture global attention and make major headline news. This is 2008 all over again, but much worse!! The story line will be that nothing was fixed, but that nothing can be fixed, and much more debasement of money will come. The Gold Meter will rise in direct reflection.

THE HAT TRICK LETTER PROFITS IN THE CURRENT CRISIS.
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Jim Willie CB, editor of the “HAT TRICK LETTER”

From subscribers and readers:
At least 30 recently on correct forecasts regarding the bailout parade, numerous nationalization deals such as for Fannie Mae and the grand Mortgage Rescue.

“As the nation screams down the mountain out of control into the abyss, it is good to have a guide. Jim Willie helps to understand what is happening and more important, why. With that information, you can make the right decisions to protect yourself from the current apocalyptic catastrophe. Forget the MSM propaganda. Here is offered good in-depth actionable reports that are the most insightful and valuable.”
(AlanS in New Mexico)
“Your work is by far the most comprehensive, informative, and accurate of all, no question. I cannot overstate how much I have learned from your work. It must be a conscious effort on your part to teach people. Please don’t give up on that commitment. Your article on the Petro-Dollar standard is a turning point for any investor or geo-political power observer.”
(CurtB in Kansas)
“When I initially read your writings, they provoked a wide range of emotions in me from fear and anger to outright laughter. Initially some of your predictions ranged from the ridiculous to impossible. Yet time and again, over the past five years, I have watched with incredulity as they came true. Your analysis contains cogent analysis that benefits from a solid network of private contacts coupled with your scouring of the internet for information.”
(PaulM in Missouri)

Jim Willie CB is a statistical analyst in marketing research and retail forecasting. He holds a PhD in Statistics. His career has stretched over 25 years. He aspires to thrive in the financial editor world, unencumbered by the limitations of economic credentials. Visit his free website to find articles from topflight authors at  www.GoldenJackass.com. For personal questions about subscriptions, contact him at  JimWillieCB@aol.com