What The European Long-Term Refinancing Operation Really Is About

From SeekingAlpha, December 22, 2011
by Charles A. Smith 

EuroIntelligence says:

The best comment this morning on the impact of this operation came from Mark Schieritz, [Translated From German] who gives a downbeat/realistic assessment. He says the liquidity shower will have a marginally positive impact on the banking sector, in the sense that it reduces the probability of a liquidity squeeze. It probably prevents a massive liquidity crunch (read: Bank run), but it is unlikely to lead to more private sector credit. He also dismissed the backdoor theory – that banks would now use the money to buy government bonds. One reason for their caution is that future stress tests might require a corresponding increase of core-tier one capital to back such purchases. Schrieritz concludes that most of the money will end up with the ECB.

Of course it will. It will never get lent out. Haven’t the monetary "authorities" in Europe been watching what has gone on in the U.S. for the past 3 years? These “refinancings” are nothing more than the (panicked) banks dumping their very worst collateral on the ECB to cover immediate withdrawals/maturities. And these withdrawals/maturities willkeep on coming! And if they run out of pledgeable collateral, no worries. They simply issue new bonds, get a government guarantee on those bonds, and then post them as collateral for cash at the ECB. Italian banks issued 40 billion euros worth of such bonds yesterday! There’s a very vulgar term for this sort of behavior…”circle jerk”.

The U.S. Federal Reserve lent over $300 billion in 3-year financing to the major U.S. banks in late 2008. But the Fed didn’t have to cloak it all in a crazy web of circular transactions to obfuscate the fact that it was monetizing bad debts, as the ECB is doing. The Fed just gave the banks the cash, and they’ve kept it!

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

Democracy NOW! – A Tool of NWO Propaganda

From American Everyman, December 21, 2011

by Scott Creighton

Just a quick note: Democracy NOW! run by Amy Goodman, is a globalist tool used to spread propaganda to the liberal left. The proof of this is undeniable just look back at their articles supporting the false stories about the Libyan government crackdown on “protesters” in the early stages of the Libyan regime change operation and look at the bullshit they are presenting now regarding the globalist’s next target, Syria.

Stratfor just released a paper (The Syria Crisis: Assessing Foreign Intervention) detailing how the actions in Libya and Syria were low intensity psyops designed by Western governments (globalists) to force regime change on those two countries. They also state that the reports coming from the NGOs in those countries are certainly exaggerated to make the current regimes look bad.

The least risky and least detectable option for a country pursuing intervention is to ramp up intelligence activities in the target country. Such activities can involve clandestine activities like developing contact with opposition figures or encouraging generals to conduct a coup or defect to the opposition. Clandestine efforts can also include working with opposition groups and nongovernmental organizations to improve their information warfare activities. These activities may progress to more obvious covert actions, such as assassinations or sabotage. Most of the actions taken in the covert intelligence war against Iran can be placed in this level.
Clandestine and covert activities often are accompanied or preceded by overt diplomatic pressure. This includes press statements denouncing the leadership of the target country, the initiation of resolutions in international organizations, such as the Arab League or the United Nations, and international economic sanctions” Stratfor

Clearly Democracy NOW! has become a go-to vehicle for passing along propaganda from the Obama/Clinton regime in their information warfare activities. They are constantly providing a venue for NGOs and opposition group leaders to spread their disinformation to the left wing supporters of Obama.
Here is Democracy NOW!’s banner on their “Libya Uprising” page followed by a few headlines from old DN stories which helped build support for Obama’s illegal invasion of Libya.

• Thousands Feared Dead in Gaddafi’s Crackdown on Libyan Uprising
• “Everywhere There is Graffiti Saying, ‘Welcome to the New Free Libya‘”: Democracy Now! Correspondent Anjali Kamat Reports
• Massacre in Libya: Witnesses Say Protesters Have Taken Control of Benghazi Despite Gov’t Violence

Now take a look at DN!’s Syrian topic button.

• As Syria Toll Tops 5,000, Activist in Hiding Urges Global Action to Stop Assad Regime Crackdown
• Syrian Human Rights Lawyer Razan Zaitouneh Speaks from Hiding, SaysOver 4,000 Killed in Uprising
• Syria Attacks Protesters with Tanks, Naval Bombardment: “The Regime Has Made War Against the People“

These are not “uprisings” but rather carefully planned destabilization campaigns which have cost thousands their lives and perhaps millions their livelihoods in Libya and and soon Syria. Everything Amy Goodman ever stood for is being bastardized right now and people will pay the price for her compliance in this new world order being fashioned by Obama and Clinton.
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Related:

Conspiracy Against Libya: Do The Research