By Wolf Richter: “European leaders have not been able to meet their responsibilities,” French Prime Minister Jean-Marc Ayrault said
about Germany and some other countries that are reluctant to pile more
taxpayer money on Greece, whose economy is grinding to a halt, and whose
government, deprived of the flow of bailout funds and cut off from the
financial markets, can no longer fulfill its promises.
And Greeks are leery of new “structural reforms” currently fought
over by the coalition government. They oppose more cuts in salaries,
pensions, and health care. On Wednesday, they will attempt to bring the
economy to a halt with a general strike
and demonstrations in Athens and Thessaloniki. Meanwhile, Germany and
other countries are wondering how Greece can possibly “reform” if the
government can’t agree on the reforms to inflict on its people, and if
the people aren’t willing to suffer them. But Ayrault declared that not
giving Greece more money and time would create “a completely
unmanageable situation."
To his French compatriots, Ayrault defended the Fiscal Union treaty,
which, after having been silenced to death, has come under blistering
attack from the far right and the far left ahead of the
parliamentary debate. They’re clamoring for a referendum, something the
government wants to avoid at all costs—the people might well kill it, as
they’d killed the European Constitution in the referendum of 2005
[read.... A French Rebellion Against Unelected Bureaucrats: “European Coup D’Etat And Rape Of Democracy”].
“This treaty doesn’t damage the budgetary sovereignty of parliament,”
he said. “There is no transfer of sovereignty.” THE issue with that
treaty. Even the German Constitutional Court acknowledged
that it transferred sovereignty to the European Union.
Telling the truth has become a revolutionary act, so let us salute those who disclose the necessary facts.
30 Sept 2012
‘No more Israel’ - Henry KISSINGER
Cindy Adams: Henry KISSINGER.
Former secretary of state. Current savant of the state of the world. Do
not argue with Mr. Kissinger’s know-how. He already knows how.
Middle East horror. Democratic party dissing Jerusalem. DC’s anti-Israel mentality. Obama, busy raising re-election funds, no time for beleaguered Netanyahu. The Oval Office attitude versus the Red Line. Iran’s oath to destroy our only friend in that part of the world.
Reported to me, Henry Kissinger has stated — and I quote the statement word for word: “In 10 years, there will be no more Israel.” Source
I repeat:
“In 10 years, there will be no more Israel.” banzai7
Angelo: The bastard that authored the destruction of the middle east including the partition of my parentland Cyprus to create an apartheid nazi gulag called israel is now angling for the U.S.A to kick off WWIII!
Middle East horror. Democratic party dissing Jerusalem. DC’s anti-Israel mentality. Obama, busy raising re-election funds, no time for beleaguered Netanyahu. The Oval Office attitude versus the Red Line. Iran’s oath to destroy our only friend in that part of the world.
Reported to me, Henry Kissinger has stated — and I quote the statement word for word: “In 10 years, there will be no more Israel.” Source
I repeat:
“In 10 years, there will be no more Israel.” banzai7
Angelo: The bastard that authored the destruction of the middle east including the partition of my parentland Cyprus to create an apartheid nazi gulag called israel is now angling for the U.S.A to kick off WWIII!
Exposing China's Shadow Banking System
Submitted by Tyler Durden: We
have in the past attempted to take on the gargantuan task of exposing
the multi-trillion Chinese Shadow Banking system (not to be confused
with its deposit-free, rehypothecation-full Western equivalent), most recently here.
Alas, it is has consistently proven to be virtually impossible to
coherently explain something as decentralized and as pervasive as an
entire country's underground economy, especially when the country in
question is the riddle, wrapped in a mystery, inside an enigma known as
China. Today, however, courtesy of AsiaFinanceNews we get a report as
close as possible to the most comprehensive overview of what may soon be
(especially if rumors of tumbling Chinese municipal dominoes are
correct) the most talked about subject in the financial world: China's
Shadow Banking empire.
From Chinese Shadow Banking SystemChina presently has five state-controlled megabanks operating within the supervision of the central government, of which the government is a majority shareholder, and seventeen additional “shareholder banks.” Because China’s state banking sector operates as a direct subsidyfunding channel for state-owned enterprises (as opposed to acting in the capacity of risk analytics based credit institutions), the largest state-owned banks have required periodic recapitalization every decade over the past sixty years as the constant generation and cumulative exposure to non-performing loans exceeds the banks’ total equity. The circumstances comprising the present situation, however, will include monetary exposure by international asset management firms which have acquired both direct equity-stakes in the banks as well as exposure to Hong Kong-listed shares.
Is The Money-Laundering Driven Real Estate "Boom" Ending?
Submitted by Tyler Durden: One by one all the money-laundering loopholes in a broke world are coming to an end.
First it was Swiss bank accounts, which for centuries guaranteed the
depositors absolute secrecy, and as a result saw money inflows from all
the wealthiest savers in the world, who felt truly safe their wealth
(obtained by legal means or otherwise) would not be redistributed
forcefully. In the ecosystem of finance, Switzerland was the
depositor bank. Then 2008 happened, and starting with the US, shortly
to be followed by every other insolvent country, demands were issued for
a full list of people who had used Zurich and Geneva bank vaults to
avoid the risk of asset taxation, capital controls and confiscation on
their own native soil. The result was the end of the Swiss banking
sector as the ultimate target of all global money laundering. In the
ensuing power vacuum, others have sprung up to take its place, most
notably Singapore, but its days as a tax-haven are numbered by how long
it takes China to fall face first into a hard landing at which point no
saving on the Pacific seaboard will be safe. Now, it is the turn of real estate.
While hardly a secret, for decades the ultra-luxury housing segment in any country was the target not so much of local wealthy individuals and business, but foreigners, for whom the grass was always greener, and sought to put their money into "hard assets" abroad to save it from local confiscation. After all, it is far easier to be sued and prosecuted by your own government than a foreign one. Two very vivid examples are the most expensive house in Miami ever sold, which two months ago fetched a price of $47 million, which was purchased by "a Russian who bought the home in the name of a U.S.-based limited-liability company" and in the until recently a record $88 million paid for a 15 CPW penthouse for the daughter of Russian billionaire, Dmitry Rybolovlev (bought from Citi's Sandy "End TBTF" Weill). The record was topped at $90 million paid for a One57 duplex apartment paid by an unknown individual
"Hero of our time" German Nobelist Grass throws more jabs at Israel + Gaza flotilla video mashup: Internet Killed Israeli PR
German Nobel laureate
Gunter Grass, who earlier in the year called Israel a threat to world
peace, is set to further anger the Tel Aviv apartheid regime with new poetry
referring to Israeli nuclear whistleblower, Mordechai Vanunu as "hero of
our time."
A new volume of poetry by the 84-year-old, Germany’s most renowned
living writer, who won the Nobel Prize for Literature in 1999, came out
on Saturday under the title Eintagsfliegen (One Hit Wonders), DPA reported.
The Nobelist has used the work to refer to Vanunu as a "role model."
In 1986, the nuclear technician was sentenced to 18 years in prison for exposing details about Israel's nuclear program and military activities. He leaked the data to Britain's The Sunday Times, while working at Israel's Dimona nuclear facility in the Negev desert in the south of the Occupied Territories, providing convincing evidence that Tel Aviv possesses a nuclear arsenal.
Constructing the nuclear facility began in 1958, and Israel is believed to have manufactured scores of nuclear warheads since the 1960s. Former US President Jimmy Carter has said that Tel Aviv possesses between 200 and 300 nuclear warheads.
Back in April, Grass used a piece of poetry, titled "Was gesagt werden muss" (“What Must Be Said”), to draw attention to the "nuclear power Israel" endangering peace and slamming the West’s hypocrisy over Tel Aviv’s nuclear arsenal. “Why do I say only now...that the nuclear power Israel endangers an already fragile world peace? Because that must be said which may already be too late to say tomorrow," Grass wrote.
'Assange will be treated like Al-Qaeda if extradited to US' - Hrafnsson
Austerity? What Austerity?
Following years of large spending expansion, Spain, the United Kingdom, France, and Greece—countries widely cited for adopting austerity measures—haven't significantly reduced spending since "austerity" supposedly started in 2008.
"Democratic Womanism": Poet and Activist Alice Walker on Women Rising, Obama and the 2012 Election
With less than 40 days to
go before the 2012 presidential election, poet and activist Alice Walker
reads her new poem, "Democratic Womanism," and discusses her thoughts
on President Obama’s legacy, including his use of drone strikes. "You
ask me why I smile when you tell me you intend in the coming national
elections to hold your nose and vote for the lesser of two evils," reads
Walker. "There are more than two evils out there, is one reason I
smile."
Researcher says U.S. Army scientists secretly sprayed cities with radioactive particles for years
By Madison Ruppert: According to
Lisa Martino-Taylor, a sociologist, the United States military carried
out top secret experiments involving the spraying of radioactive
particles on residents of St. Louis, Missouri for years.
This is hardly surprising given the fact that the entire United States is currently engaged in a massive human experiment when we already know that the results will be nothing short of horrific. Let’s also not forget that we continue to support the use of dangerous substances and technologies, even though we know that disaster is a certainty.
It is public knowledge that the government sprayed zinc cadmium
sulfide particles – which are supposedly harmless – over St. Louis, but
Professor Martino-Taylor says that her research indicates a radioactive
additive was also mixed in with the compound.The targets of these experiments were primarily minorities and low-income communities – again, hardly surprising given the U.S. government’s history of conducting brutal tests on disadvantaged populations – who had no clue that they were being subjected to dangerous chemicals from 1953-1954 and 1963-1965.
29 Sept 2012
UNSURVIVABLE
JPMorgan Loss Could Be Next 'Shock' Event
Yoni Jacobs: The JP Morgan (JPM)
trading blunder could result in a $100 billion loss, a contagion of its
massive portfolio, and even the wipeout of its entire asset base. Even
worse, these extremely risky and potentially-illegal actions on behalf
of the CIO office and the "London Whale" could be the unexpected "shock"
that breaks the market, derails the Fed's huge monetary stimulus, and
sends us back into a global recession.
The JP Morgan Shock
The entire world has forgotten about or ignored what could be the upcoming "shock" that puts the global financial system in severe jeopardy. To make matters much, much worse - I don't think anyone even has a clue as to what is really happening. Investors, economists, financial powerhouses, top business executives, politicians, lawmakers, consumers, students, governments, and even central banks are completely confused. None of them are expecting what I will describe below.
There is one event that may ultimately solve the mystery of the global economy. This event would not only plunge the economy back into a deep recession and lose investors hundreds of billions of dollars, but it could bring about the collapse of some of the world's largest financial institutions and even render central bank stimulus and QE completely ineffective and futile. This event is by no means a guarantee; its probability is even likely under 5 percent. But this event has all the necessary ingredients to culminate into a major panic. Together with slowing global economies and an extremely unstable financial system, this could be the next Lehman Brothers.
The JP Morgan Shock
The entire world has forgotten about or ignored what could be the upcoming "shock" that puts the global financial system in severe jeopardy. To make matters much, much worse - I don't think anyone even has a clue as to what is really happening. Investors, economists, financial powerhouses, top business executives, politicians, lawmakers, consumers, students, governments, and even central banks are completely confused. None of them are expecting what I will describe below.
There is one event that may ultimately solve the mystery of the global economy. This event would not only plunge the economy back into a deep recession and lose investors hundreds of billions of dollars, but it could bring about the collapse of some of the world's largest financial institutions and even render central bank stimulus and QE completely ineffective and futile. This event is by no means a guarantee; its probability is even likely under 5 percent. But this event has all the necessary ingredients to culminate into a major panic. Together with slowing global economies and an extremely unstable financial system, this could be the next Lehman Brothers.
Robert Mundell, evil genius of the euro - For the architect of the euro, taking macroeconomics away from elected politicians and forcing deregulation were part of the plan
Greg Palast: The idea that the euro
has "failed" is dangerously naive. The euro is doing exactly what its
progenitor – and the wealthy 1%-ers who adopted it – predicted and
planned for it to do.
That progenitor is former University of Chicago economist Robert Mundell. The architect of "supply-side economics" is now a professor at Columbia University, but I knew him through his connection to my Chicago professor, Milton Friedman, back before Mundell's research on currencies and exchange rates had produced the blueprint for European monetary union and a common European currency.
Mundell, then, was more concerned with his bathroom arrangements. Professor Mundell, who has both a Nobel Prize and an ancient villa in Tuscany, told me, incensed:
But Mundell, a can-do Canadian-American, intended to do something about it: come up with a weapon that would blow away government rules and labor regulations. (He really hated the union plumbers who charged a bundle to move his throne.)
"It's very hard to fire workers in Europe," he complained. His answer: the euro.
That progenitor is former University of Chicago economist Robert Mundell. The architect of "supply-side economics" is now a professor at Columbia University, but I knew him through his connection to my Chicago professor, Milton Friedman, back before Mundell's research on currencies and exchange rates had produced the blueprint for European monetary union and a common European currency.
Mundell, then, was more concerned with his bathroom arrangements. Professor Mundell, who has both a Nobel Prize and an ancient villa in Tuscany, told me, incensed:
"They won't even let me have a toilet. They've got rules that tell me I can't have a toilet in this room! Can you imagine?"As it happens, I can't. But I don't have an Italian villa, so I can't imagine the frustrations of bylaws governing commode placement.
But Mundell, a can-do Canadian-American, intended to do something about it: come up with a weapon that would blow away government rules and labor regulations. (He really hated the union plumbers who charged a bundle to move his throne.)
"It's very hard to fire workers in Europe," he complained. His answer: the euro.
Nothing to do, nowhere to go: 1 in 4 UK youths jobless
Related: NEW ONS SHOCKER: Just 1 in 4 UK adults aged 16-74 has a full-time job
Welcome to the Era of 'Ugly' Inflation - Charles Hugh Smith
The Siren Song of 'Beautiful Deleveraging'
In a world of rising sovereign debts and an overleveraged, over-indebted private sector, history suggests there are only three possible ways out: gradual deleveraging, defaulting on the debt, or printing enough money to inflate away the debt.Ray Dalio recently described the characteristics of a “beautiful deleveraging” in which equal doses of austerity, write-downs, and inflation gradually lighten the load of impaired debt. This might be called the Goldilocks Deleveraging, as the key feature of this “beautiful” solution is that each component is “not too hot, not too cold” – inflation is modest, write-downs of bad debt are gradual, and austerity is not too severe. Given enough time, the leverage and debt are worked off without requiring any structural change to the Status Quo.
Understandably, the Status Quo has embraced this solution for the appealing reason it doesn’t change the power structure at all. Everyone currently in charge remains in charge, and everyone who owns outsized wealth continues owning outsized wealth. Rather than falling onto the politically powerful “too big to fail” banking sector, the pain of deleveraging is spread over the entire economy. There is no such thing as painless deleveraging, so the “solution” is to distribute the pain over hundreds of millions of people. That’s what makes it “beautiful” to the Status Quo: It doesn’t cost them either their power or their wealth.
The Status Quo in Japan has pursued this strategy for 20 years, and the Status Quo in Europe and the U.S. have pursued it for the past four years, ever since the global financial system imploded in 2008.
Derivatives role in creating and sustaining the ongoing financial crisis - Rob Kirby with Max Keiser
Defraudsters - Max Keiser with Will Carless
Pepper Sprayed Students Win Settlement; Apology + The World Is Waking Up to The New World Order 'Street art'
28 Sept 2012
Big Brother is already here - End The Lie
By End the Lie Guest Writer: “Good
intentions will always be pleaded for every assumption of power.” –
Daniel Webster, United States Senator and Secretary of State (1782-1817)
I see a lot of articles about the massive growth of surveillance and loss of privacy. The authors of the articles often say they’re concerned that a “big brother” society might be the result of it.
Might? You can absolutely count on it! If you’re a betting person you can bet big and win big, if you can find anyone gullible enough to take your bet, that is.
Technology gives authorities more power and I think we all know authorities love power. That’s why they’re authorities. People in positions of authority have more privileges and perks than the rest of us. From some Barney Fife-type right up to the president, people who get power like it. They want to keep it, and they want more of it. And that is precisely what technology does.
Take the Transportation Security Administration (TSA) agents for example. One day they are unemployed, then they answer an ad on a pizza box and almost overnight they have real authority, real power, and they can instantly turn your life into a nightmare.
If one of those minimally trained rookies singles you out as suspicious because of something they thought they felt when they groped you, or a shadow they thought they saw in your x-ray, the full weight of the legal system can come down on you immediately – including handcuffs, strip searches, and detention.
So in essence, everyone in the chain of authority is your master, no matter how low their official rank may be, because they can cause armed police to appear and take you away. People with very little training, no knowledge of the law, and no actual police experience now have enormous power over all of us.
To make matters worse, the TSA is expanding its operations.
George Orwell, author of the novel Nineteen Eighty-Four, wasn’t clairvoyant, he was just wide awake. He could see technology advancing, and being keenly aware of human nature, he knew what was coming. And it is.
I see a lot of articles about the massive growth of surveillance and loss of privacy. The authors of the articles often say they’re concerned that a “big brother” society might be the result of it.
Might? You can absolutely count on it! If you’re a betting person you can bet big and win big, if you can find anyone gullible enough to take your bet, that is.
Technology gives authorities more power and I think we all know authorities love power. That’s why they’re authorities. People in positions of authority have more privileges and perks than the rest of us. From some Barney Fife-type right up to the president, people who get power like it. They want to keep it, and they want more of it. And that is precisely what technology does.
Take the Transportation Security Administration (TSA) agents for example. One day they are unemployed, then they answer an ad on a pizza box and almost overnight they have real authority, real power, and they can instantly turn your life into a nightmare.
If one of those minimally trained rookies singles you out as suspicious because of something they thought they felt when they groped you, or a shadow they thought they saw in your x-ray, the full weight of the legal system can come down on you immediately – including handcuffs, strip searches, and detention.
So in essence, everyone in the chain of authority is your master, no matter how low their official rank may be, because they can cause armed police to appear and take you away. People with very little training, no knowledge of the law, and no actual police experience now have enormous power over all of us.
To make matters worse, the TSA is expanding its operations.
George Orwell, author of the novel Nineteen Eighty-Four, wasn’t clairvoyant, he was just wide awake. He could see technology advancing, and being keenly aware of human nature, he knew what was coming. And it is.
David Icke: Quantitative Easing Depression
Citizen Caned: Cameron flunks UK 'citizenship test' on US TV show
Taxes Without Borders World Health Organization mulling global cigarette tax - The death of fiscal sovereignty and bureaucratic mission creep
By CJ Ciaramella:
The World Health Organization (WHO) is considering a global excise tax of up to 70 percent on cigarettes at an upcoming November conference, raising concerns among free market tax policy analysts about fiscal sovereignty and bureaucratic mission creep.
In draft guidelines published this September, the WHO Framework Convention on Tobacco Control indicated it may put a cigarette tax on the table at its November conference in Seoul, Korea.
“First we had doctors without borders,” said David Williams, president of the Taxpayer Protection Alliance. “Now you could have taxes without borders. … This is a new frontier in taxes. If they’re successful with this, consumers and taxpayers should be concerned about what’s coming down the pipe.”
Although WHO does not have any power to mandate taxes on sovereign nations, it is considering two proposals on cigarette taxes to present to member countries. The first would be an excise tax of up to 70 percent.
“The concept was initially proposed by a working group set up by World Bank to explore innovative sources of financing health care and envisions a voluntary action by interested governments to adopt an additional tax levy as part of their regular tobacco excise on each pack of cigarettes consumed,” the WHO said in a January statement. “This would increase the effective excise tax rate on cigarettes towards the WHO recommended level of 70 percent of the retail price and, by generating substantial revenues, could ensure a sustainable revenue stream for financing international health.”
The World Health Organization (WHO) is considering a global excise tax of up to 70 percent on cigarettes at an upcoming November conference, raising concerns among free market tax policy analysts about fiscal sovereignty and bureaucratic mission creep.
In draft guidelines published this September, the WHO Framework Convention on Tobacco Control indicated it may put a cigarette tax on the table at its November conference in Seoul, Korea.
“First we had doctors without borders,” said David Williams, president of the Taxpayer Protection Alliance. “Now you could have taxes without borders. … This is a new frontier in taxes. If they’re successful with this, consumers and taxpayers should be concerned about what’s coming down the pipe.”
Although WHO does not have any power to mandate taxes on sovereign nations, it is considering two proposals on cigarette taxes to present to member countries. The first would be an excise tax of up to 70 percent.
“The concept was initially proposed by a working group set up by World Bank to explore innovative sources of financing health care and envisions a voluntary action by interested governments to adopt an additional tax levy as part of their regular tobacco excise on each pack of cigarettes consumed,” the WHO said in a January statement. “This would increase the effective excise tax rate on cigarettes towards the WHO recommended level of 70 percent of the retail price and, by generating substantial revenues, could ensure a sustainable revenue stream for financing international health.”
What Happened to Virtue? - the Ludwig von Mises Institute of Canada
By James E. Miller: In the midst of the Great Depression, Treasury Secretary Andrew
Mellon famously advised President Hoover to “liquidate labor, liquidate
stocks, liquidate farmers, liquidate real estate” instead of propping
each industry up with tax dollars. This liquidation doctrine would
“purge the rottenness out of the system” and make certain that “people
will work harder” and “live a more moral life.” Contrary to popular
belief, Hoover did not take Mellon’s advice and went forth with his own
version of the New Deal that gave relief to farmers and supported wage
rates in certain industries. These efforts, which were exacerbated
under the presidency of Franklin Roosevelt, effectively prevented the
market from clearing. The boom of the late 1920s that was driven by the
Federal Reserve’s monetary inflation was not allowed to bust. Instead
of liquidating the debt and allowing the economy to reach a sound
footing, both the Hoover and Roosevelt administrations attempted to
manage it back to health. The result was the longest period of
unemployment ever recorded in American history.
Today, Mellon’s advice is still spurned by most of the economic profession. The media establishment, not to be outdone, is also on the side of intervention. Government is looked to as a savior while markets are seen as inadequate in providing for a satisfactory standard of living. With their incessant need to fix what isn’t broke, the political class is praised for their courage to take the reins of society and direct it toward a meaningful and just way of life. Liberty is seen as barbaric in comparison to state-sanctioned redistribution. Fighters of war are looked to as glorious warriors who make a great sacrifice to their countrymen. Public office itself is seen as an occupation of the righteous who give up the opportunity for profit. Most notably, spending is regarded as the necessary elixir of economic growth.
Today, Mellon’s advice is still spurned by most of the economic profession. The media establishment, not to be outdone, is also on the side of intervention. Government is looked to as a savior while markets are seen as inadequate in providing for a satisfactory standard of living. With their incessant need to fix what isn’t broke, the political class is praised for their courage to take the reins of society and direct it toward a meaningful and just way of life. Liberty is seen as barbaric in comparison to state-sanctioned redistribution. Fighters of war are looked to as glorious warriors who make a great sacrifice to their countrymen. Public office itself is seen as an occupation of the righteous who give up the opportunity for profit. Most notably, spending is regarded as the necessary elixir of economic growth.
Forget Your Free Phone, Obama Has Screwed The Poor + TSA Goon Caught Stealing iPad and Simon says "freeze" obedience training
Protester outside of Romney rally explains how Obama gives all minorities free phones and that is why they should vote for him. Did she say "fool stamps"?
How Crony Capitalism Corrupts the Free Market - David Stockman
By misesmedia: Archived from the live Mises.tv
broadcast, this lecture by David Stockman was presented at the Mises
Circle in Manhattan: "Central Banking, Deposit Insurance, and Economic
Decline." Includes a welcome and introduction by Llewellyn H. Rockwell,
Jr. Music by Kevin MacLeod.
A Chinese Mega City Is On The Verge Of Bankruptcy
Submitted by Tyler Durden: While most "developed world" people have heard of Hong Kong and Macau, far fewer have heard of China's province of Guangdong,
which is somewhat surprising. With over 100 million people, a GDP of
nearly $1 trillion - the biggest of all Chinese provinces, this South
China Sea adjacent territory is perhaps China's most important economic
dynamo. One of the key cities of Guangdong is Dongguan,
which as the map below shows is a stone's throw from Hong Kong, has a
population of nearly 10 million, and has long been considered
Guangdong's boomtown and one of China's richest cities.
One notable feature about Dongguan is that it is home to the New South China Mall, which is the world's largest. It also happens to be mostly empty ever since it opened in 2005. Which perhaps is a good segue into this story. Because while for the most part the city of Dongguan has been a story of prosperity, a wrinkle has appeared. According to the South China Morning Post, which cites researchers at Sun Yat-sen University, this city is now on the brink of bankruptcy.
Is Europe Burning? Gladio to the rescue as flames engulf Barcelona, Athens
By Richard Cottrell: Some
eighty-five years ago a man whose books would change our perspective of
the world forever was struck by a sniper while serving as a volunteer
infantryman on the Catalonian front at the peak of the Spanish Civil War. His name was George Orwell.
He wrote a famous diary called Homage to Catalonia describing his experiences fighting alongside partisan government forces resisting the fascist takeover of the country. That seminal work would eventually flower into Animal Farm and 1984, which today we can easily read as documentaries of our current plight beneath the heel of the new world orderista.
The war stripped away many illusions that led Orwell to this personal crusade against Generalissimo Francisco Franco. Orwell quickly discovered that hard-line communists Stalin sent to stiffen the ranks of the resistance were in reality no better than the fascists in both their methods and ideology. Were he alive today, Orwell would wring his hands at the plight of Catalonians, finding themselves once again crushed by ruthless foreign invaders and looters.
I am speaking of the EU imposed austerity measures which have wrenched the entire Spanish economy to a shuddering standstill. Catalonia, which accounts for a fifth of Spain’s total GDP, has responded by rekindling the spirit of independence. The province is already semi-detached but its unfortunate destiny marks it as the Spanish Tibet – lashed to Madrid, tossed some morsels of quasi-self determination but its people denied the sovereign freedom to make their own choices.
He wrote a famous diary called Homage to Catalonia describing his experiences fighting alongside partisan government forces resisting the fascist takeover of the country. That seminal work would eventually flower into Animal Farm and 1984, which today we can easily read as documentaries of our current plight beneath the heel of the new world orderista.
The war stripped away many illusions that led Orwell to this personal crusade against Generalissimo Francisco Franco. Orwell quickly discovered that hard-line communists Stalin sent to stiffen the ranks of the resistance were in reality no better than the fascists in both their methods and ideology. Were he alive today, Orwell would wring his hands at the plight of Catalonians, finding themselves once again crushed by ruthless foreign invaders and looters.
I am speaking of the EU imposed austerity measures which have wrenched the entire Spanish economy to a shuddering standstill. Catalonia, which accounts for a fifth of Spain’s total GDP, has responded by rekindling the spirit of independence. The province is already semi-detached but its unfortunate destiny marks it as the Spanish Tibet – lashed to Madrid, tossed some morsels of quasi-self determination but its people denied the sovereign freedom to make their own choices.
David Greenberg on how Electronic & High-Frequency Trading are Driving Oil Prices Higher!
27 Sept 2012
Boom & Bust Vicious Cycle - Max Keiser with Detlev Schlichter
NEW ONS SHOCKER: Just 1 in 4 UK adults aged 16-74 has a full-time job - The Slog
THE FINAL PROOF: How neocons and liberals have accelerated Britain’s progress over the cliff
45% of all those currently in work don’t have full time permanent jobs, according to this month’s ONS labour market data .
While that 45% number reflects a reality in the UK Labour market
highlighted by The Slog in previous posts, the cumulative result of
adding up all the anomolies of our economy’s inability to employ people
paints a very bleak long-term picture indeed.The ONS also tells us that 22.4% of adults aged 16-64 are economically inactive. So that doesn’t include the retired…although of course some of them will be in the 45% of part-timers – thanks to the last fifteen years of Westminster policy shrinking their pension values.
But let’s start from one simple assumption: that very few people over 75 beyond Rupert Murdoch are still working. That’s 9.2% of all adults….but generously leaving out the 6.5% aged 65-74 entirely.
The aggregate comes to a staggering 76.6% not in a full time job. Only one adult in four – at the most – enjoys full-time employment in the United Kingdom.
For the life of me, I cannot understand why the statisticians are scratching their heads, and asking why unemployment is static or falling in the deepest recession for eighty years. The simple reality is that employment is changing: from long-contract, full-time career work to zero contract, short-hours part time or freelance work.
To paraphrase an old and dishonest Saatchi & Saatchi political campaign poster from 1979, the immigration/economic model/reduced welfare/globalist matrix being followed by Britain isn’t working.
Europe's betrayal of Spain - Ambrose Evans-Pritchard
We discover – yet again, you might say – that Germany, Holland, and
Finland will not stand behind their solemn pledge of solidarity when
push comes to shove.
Spain’s premier Mariano Rajoy has been betrayed. Nobody should be entirely surprised if he and the Spanish arch-nationalists in his circle offer a condign riposte, and bring down the entire temple on the heads of the creditor powers.
He bit the bullet and agreed to the highly intrusive terms of a €100bn eurozone rescue for the Spanish banking system on a specific understanding: that the ESM bail-out fund would ultimately take over the burden by recapitalising Spain’s banks directly.
This deal has been breached. Can we believe anything that the Chancellor of Germany, the prime minister of Holland, and the prime minister of Finland say from now on? The EMU rescue edifice is built on sand.
You might say Mr Rajoy had no choice. But he did. There were those whispering in his ear that Spain should instead retake control over its own monetary, exchange, and sovereign policy levers, and break out of its debt-deflation trap.
Spain’s premier Mariano Rajoy has been betrayed. Nobody should be entirely surprised if he and the Spanish arch-nationalists in his circle offer a condign riposte, and bring down the entire temple on the heads of the creditor powers.
He bit the bullet and agreed to the highly intrusive terms of a €100bn eurozone rescue for the Spanish banking system on a specific understanding: that the ESM bail-out fund would ultimately take over the burden by recapitalising Spain’s banks directly.
This deal has been breached. Can we believe anything that the Chancellor of Germany, the prime minister of Holland, and the prime minister of Finland say from now on? The EMU rescue edifice is built on sand.
You might say Mr Rajoy had no choice. But he did. There were those whispering in his ear that Spain should instead retake control over its own monetary, exchange, and sovereign policy levers, and break out of its debt-deflation trap.
Julian Assange to UN: 'US trying to erect national secrecy regime' (Full version)
Addressing the representatives of the United Nations' member countries, the WikiLeaks founder spoke of the difference between words and actions, praising US President Barack Obama for his words.
"We commend and agree with the words that peace can be achieved… But the time for words has run out. It is time for the US to cease its persecution of WikiLeaks, our people and our sources."
Assange was highly critical of US involvement in the Arab Spring, denouncing Obama as audacious for exploiting it. He added that it is "disrespectful of the dead" to claim that the US has supported forces of change.
Words From The Grave Maya Naser - No Civil War in Syria - Syrian Girl
By SyrianGirlpartisan: Press TV Journalist Maya Naser was
martyred yesterday when FSA Mercenary Snipers while he was covering a
bombing in the Syrian capital of Damascus . He was a patriot and a brave
hero that risked his life for the truth. Three weeks before his death I
interviewed him on wether or not there was a civil war in Syria. I
waited to put it out because i wanted to edit it, and now it's too late
for him to see it. I had hoped to interview him again, 'inshallah' he
said, 'god willing'. Source
Spanish Bank Deposit Outflow Surge Continues In August
Submitted by Tyler Durden: The crux of the "pain for Spain" was exposed
in August, when the world learned that despite all attempts to the
contrary, Spanish banks are no longer perceived as safe by the locals,
and the result was a record 5% deposit outflow in
one month from local banks: cash that was promptly redeposited
elsewhere in the Eurozone. And as money flow theorists know all too
well, if cash is exiting the Spanish banking system - i.e., if the
confidence is just not there, not only is growth impossible, not only
are any austerity plans or otherwise to push GDP higher futile, but all
attempts to save the local banking system - which is now reliant on the
ECB for funding to the tune of a record €412 billion, and which means
the country has already been bailed out by the ECB - are futile and
merely sunk, literally, costs. In short: the deposit outflows continued,
and while not at the record July 5% pace, a whopping €17 billion, or
1.1% of total, deposits left the country for good and is unlikely to
come back.
Is A Gold Standard Possible? - Daniel Brebner
From Deutsche Bank's Daniel Brebner:
A Future Gold Standard?
A common theme in discussing the gold market is the prospect for a new gold standard in the future. That such a topic is now common says much about the change in attitudes by investors, many who would have ridiculed the mere mention of such a thing as little as five years ago. It also, perhaps, gives a hint as to the desperation of investors in their search for assets which they believe may protect their wealth over the long-term, a period which may experience more than its fair share of event risk.
If gold were to regain its crown as the primary medium of exchange it would dramatically change the way that governments manage their economies – which some would say is a good thing given the results of their management skills thus far. Nevertheless, the imposition of a gold standard would limit the ability of government to affect the supply of money in the economy. The supply of money would rest entirely with the volume of gold holdings that a country would possess and grow in line with its trade balances plus domestic gold production (depending on domestic resources and whether these resources in fact became state property – which we expect should be of consideration).
A Future Gold Standard?
A common theme in discussing the gold market is the prospect for a new gold standard in the future. That such a topic is now common says much about the change in attitudes by investors, many who would have ridiculed the mere mention of such a thing as little as five years ago. It also, perhaps, gives a hint as to the desperation of investors in their search for assets which they believe may protect their wealth over the long-term, a period which may experience more than its fair share of event risk.
If gold were to regain its crown as the primary medium of exchange it would dramatically change the way that governments manage their economies – which some would say is a good thing given the results of their management skills thus far. Nevertheless, the imposition of a gold standard would limit the ability of government to affect the supply of money in the economy. The supply of money would rest entirely with the volume of gold holdings that a country would possess and grow in line with its trade balances plus domestic gold production (depending on domestic resources and whether these resources in fact became state property – which we expect should be of consideration).
Mona Eltahawy Activist Against Bankster Wars Arrested by US Police - Apparently, only zionazis are allowed free speech in New York."
Bitcoin 2012 London: Max Keiser
Paul Craig Roberts: America, The Next Banana Republic
Israeli leaders meet Mahmoud Ahmadinejad in NYC
Amazing mind reader reveals his 'gift'
26 Sept 2012
Molotov Cocktails: 'Greece remedy tortures people more than disease'
Jim Willie: Death Knells for the USDollar
By Jim Willie: The recent decision by the US Federal Reserve to contaminate the financial body until it responds favorably was the last straw in my book. Witness
a declaration of permanent QE and hyper monetary inflation of the most
virulent strain, unsterilized. The USFed is essentially admitting
failure.
The signal serves as the loudest death knell for the USDollar among many in a sequence. The QE bond monetization of USGovt debt has turned viral and entrenched. It is sold as stimulus, when in fact it acts like a giant wet blanket on the USEconomy. It is intended as stimulus to businesses, but the effect is felt on the financial speculation and on Asian direct business investment. In the past the emergency lever device had been successful only because it was used on a temporary basis. But now the USFed high priest assures it is a permanent fixture, a sign of their failure.
The money is not finding its way into the USEconomy for further circulation. The plague is insolvency, soaked by endless applications of tainted money from central bank fire hoses.
GOLD PRICE READY TO EXPLODE UPWARD
The signal serves as the loudest death knell for the USDollar among many in a sequence. The QE bond monetization of USGovt debt has turned viral and entrenched. It is sold as stimulus, when in fact it acts like a giant wet blanket on the USEconomy. It is intended as stimulus to businesses, but the effect is felt on the financial speculation and on Asian direct business investment. In the past the emergency lever device had been successful only because it was used on a temporary basis. But now the USFed high priest assures it is a permanent fixture, a sign of their failure.
The money is not finding its way into the USEconomy for further circulation. The plague is insolvency, soaked by endless applications of tainted money from central bank fire hoses.
GOLD PRICE READY TO EXPLODE UPWARD
Ahmadinejad addresses UN General Assembly
Damascus in Martial Law Lock Down Curfew - Telephone Report
No one is allowed to leave their house in Damascus - No One At All! No one in the public really knows the details of the explosions, yet. Source
RUSSIAN NK630 BAN: French researchers used cancer-prone rats…
….but Russia suspects Monsanto’s monopolist motives
Just as with the global warming debate, neither side on GM is entirely good, bad or indifferent
The Slog: Even if we lack solid research to
suggest serious health dangers in the growing use of GM crops, the
long-term monopolistic and controlling aims of Monsanto remain a very
real and present danger. Sources suggest this may be uppermost in the
mind of Russian officials who yesterday halted the use of the Monsanto
NK630 wheat strain in their country. If we have good reason to question
the anti-NK630 research conducted by Gilles-Eric Seralini, we have even
more obvious reasons to suspect the long-term motives of Monsanto.
Further to The Slog’s earlier post about Russia putting a stop on further use of
the genetically modified ‘Roundup Ready’ wheat strain NK630, more
skullduggery is coming to light by the hour. It seems that in 2012,
there are liars, damned liars, and advocates.
1. Monsanto seems to be implicated in
spreading disinformation about the sample size of the French labrat
research. Although there were doubts suggesting that ‘the control
sample’ of non-NK630 fed rats was only ten strong, in fact (a) the study
looked at 200 rats, and (b) the duration of the study – two years – was
far longer than any previous research.
Several Exponential Charts - ZeroHedge
Submitted by Tyler Durden: We'll let the charts do the talking this time.
Consolidated "developed world" relative devaluation...Fascist Israel Lobbyist - We Need a False Flag to Start War with Iran!
Quantitative Easing Did Not Work For The Weimar Republic Either
The Economic Collapse: Did
printing vast quantities of money work for the Weimar Republic? Nope.
And it won't work for us either. If printing money was the secret to
economic success, we could just print up a trillion dollars for every
American and be done with it. The truth is that making everyone in
America a trillionaire would not mean that we would all suddenly be
wealthy. There would be the same amount of "real wealth" in our economy
as before. But what it would do is render our currency meaningless and
totally destroy faith in our financial system. Sadly, we have not
learned the lessons that history has tried to teach us. Back in April
1919, it took 12 German marks to get 1 U.S. dollar. By December 1923,
it took approximately 4 trillion German marks to get 1 U.S. dollar. So
was the Weimar Republic better off after all of the "quantitative
easing" that they did or worse off? Of course they were worse off.
They destroyed their currency and wrecked all confidence in their
financial system. There was an old joke that if you left a wheelbarrow
full of money sitting around in the Weimar Republic that thieves would
take the wheelbarrow and they would leave the money behind. Will things
eventually get that bad in the United States someday?
Of course we are not going to see hyperinflation in the U.S. this week or this month.
But don't think that it will never happen.
The people of Germany never thought that it would happen to them, but it did.
The following is an excerpt from a Wikipedia article about the Weimar Republic. Take note of the similarities between what the Weimar Republic experienced and what we are going through today....
Of course we are not going to see hyperinflation in the U.S. this week or this month.
But don't think that it will never happen.
The people of Germany never thought that it would happen to them, but it did.
The following is an excerpt from a Wikipedia article about the Weimar Republic. Take note of the similarities between what the Weimar Republic experienced and what we are going through today....