Israeli lobby drag America into wars: Actually, “it is America’s relationship with Israel that is causing this war [on Islam]”, and until Americans accept this, “we are not going to defeat this enemy,” the author says. Source
13 Nov 2011
By Olafur Arnarson, an author and columnist at Pressan.is, Michael Hudson, a Professor of Economics at University of Missouri- Kansas City, and Gunnar Tomasson, a retired IMF advisor
The problem of bank loans gone bad, especially those with government-guarantees...
...In the United States, banks receiving TARP bailout money were supposed to negotiate with mortgage debtors to write down the debts to market prices and/or the ability to pay. This was not done. Likewise in Iceland, the vulture funds that bought the bad “old bank” loans were supposed to pass on the debt write-downs to the debtors. This was not done either. In fact, the loan principals continued to be revalued upward in keeping with Iceland’s unique indexing designed to save banks from taking a loss – that is, to make sure that the economy as a whole suffers, even suffering a fatal austerity attack, so that bankers will be “made whole.” This means making a windfall fortune for the vultures who buy bad loans on the cheap.
Is this the future of Europe as well? If so, the present financial crisis will become the great windfall for vulture banks, and for banks in general. Whereas the past few centuries have seen financial crashes wipe out the savings and creditor claims (bonds, bank loans, etc.) that are the counterpart to bad debts, today we are seeing the bad debts kept on the books, but the banks and bondholders that provided the bad loans being made whole at taxpayer expense.
This is not how economic democracy was expected to work during the 19th-century drive for Parliamentary reform. And by the early 20th century, social democratic and labor parties were supposed to take the lead in moving banking and credit along with other basic infrastructure into the public domain But today, from Greece to Iceland, governments are acting as enforcers or even as collection agents on behalf of the financial sector – as the Occupy Wall Street movement expresses it, the top “1%,” not the bottom 99%.
Iceland stands as a dress rehearsal for this power grab. The IMF and Iceland’s government held a conference in Reykjavik on October 27 to celebrate the ostensible success in their reconstruction of Iceland’s economy and banking system.
In the United States, the crisis that Obama Chief of Staff Rahm Emanuel celebrated as “too good to let go to waste” will be capped by scaling back Social Security and Medicare as soon as the autumn Doomsday Clock runs down and the Congressional Super-Committee of 12 (with President Obama holding the 13th vote in case of a tie) gets to agree to make the working population pay Wall Street for its bad loans. The Greek austerity plan thus serves as a dress rehearsal for the U.S. – with the Democratic Party playing the role as counterparts to Greece’s Socialist Party that is sponsoring austerity, and expelling labor union leaders from its ranks if they object to the grand double-cross.
Last week's G20 Summit in Cannes, France is already being written off as a bust by the international financiers who were hoping to bolster the fledgling European Financial Stability Fund with international support and to implement a new global financial services tax which they claim will be the long-term solution to the ongoing global economic meltdown.
This is a reality interview, the dangers are real!
They wanted to be in Libya so they can split Egypt up, Israel attacks from one side and NATO from the other side.This is a 7 minute excerpt from a 98 minute program
Independent journalist Lizzie Phelan who has been covering the Libyan crisis since it began speaks to Hamid Dorda, the son of Dr Abuzed Dorda.
Syrian deputy foreign minister.
‘They send money to kill Syrians’
“Our appeal to our brothers and sisters in all those countries is not to allow that, because under the UN this is called ‘financing of terrorism’. They send money to kill Syrians. And I believe this should be stopped,” explains al-Mikdad.“The credibility of some international non-governmental organizations has been lost because they do not take into consideration what is really happening [in Syria]. Not one of these organizations has mentioned that Syria has lost more than 1,150 martyrs from the army and security forces,” the deputy FM says.
He confirms that many civilians have been assassinated in the unrest, but “people have to ask the questions, who killed them and why were they killed?”
“These are realities, we have to accept them,” Faisal al-Mikdad says. “What we did not expect was that things would develop in such a violent way that contradicts the spirit of the Syrian people,” he confesses, stressing that social media has not been banned in the country despite the apparently negative role it played in the unrest.
“In Syria we have a political system that defends the sovereignty of the country,” he says.
“In Syria we are under such an attack because we say no to the policies of the US in the region, supporting the subjugation of the region to their interests and serving the major interests of Israel,” proclaims the Syrian deputy FM.“If they [the West] manipulate the situation in the Middle East – they will do it everywhere in the world.” rt.com reports
Additional: War is a Racket, Libya, the real story
Michel Chossudovsky, the Director of the Centre for Research on Globalisation, says the League’s decision comes as no surprise.
“These countries are essentially obeying orders emanating from Washington. This is not a decision of the Arab League or the Arab world. It is a decision of Washington and it is there to justify war plans directed against Syria, which are already on the drawing board of the Pentagon,” he said.
Additional:Attack On Iran Means WWIII
See past his funky outfit and hair do, Nathanael gives us an interesting low down.
According to police, more than 10,000 people took to the streets of two major German cities, protesting against the banks' dominance. In Berlin, demonstrators have formed a human chain surrounding parts of the government district to call for an end to excesses of financial speculation and urge the authorities to dismantle big banks, AP reports. Frankfurt police said some 9,000 people were peacefully protesting in the city center near the European Central Bank's office block.
“We want more democracy and more transparency, and that the big banks and other big companies [stop] abusing the power of their money,” one of the “Occupy Frankfurt” campaigners, Thomas Leuten, told RT. “Only a mass of people will change this.”
RT spoke to one of the organizers of the event and a spokesperson for the pro-equality movement “Attac Germany”, Max Bank. He believes that if democracy is to survive in Germany, now is the time to make a stand.
“We have a worldwide problem in the financial sector, which is absolutely deregulated, and we need further regulation in order to make the sector compatible with democratic societies,” he told RT. “Otherwise, we will always see such measures as the enlargement of the EFSF that we saw a couple of weeks ago, [when] the German parliament pushed through within days.”