18 Apr 2012
The Birth Of Barter: How One Greek Town Dropped The Euro And Moved On
How the Goldman Vampire Squid Just Captured Europe
The Goldman Sachs coup that failed in America has nearly succeeded in Europe - a permanent, irrevocable, unchallengeable bailout for the banks underwritten by the taxpayers.
In September 2008, Henry Paulson, former CEO of Goldman Sachs, managed to extort a $700 billion bank bailout from Congress. But to pull it off, he had to fall on his knees and threaten the collapse of the entire global financial system and the imposition of martial law; and the bailout was a one-time affair. Paulson's plea for a permanent bailout fund - the Troubled Asset Relief Program or TARP - was opposed by Congress and ultimately rejected.
By December 2011, European Central Bank President Mario Draghi, former vice president of Goldman Sachs Europe, was able to approve a 500 billion euro bailout for European banks without asking anyone's permission. And in January 2012, a permanent rescue funding program called the European Stability Mechanism (ESM) was passed in the dead of night with barely even a mention in the press.
Mr Aleppo - Desperate Syrians Update
He says the external conspiracy started in 2002 with Bush and Iraq.
Aleppo, Syria. A prosperous city since the 3rd millennium BC famous for its ancient citadel, old mosques, churches and beautiful souqs (bazaars), it is the largest city in Syria. Source
On prescription drugs? Psychopathic US soldiers smile whilst pose with Afghan body parts
Recently released photographs, show US soldiers smiling as they pose next to the mangled remains of 'militants' in Afghanistan. Source
Assange 'traitor', show 'foul' - The World Tomorrow sparks media storm
US police handcuff six-year-old girl for school tantrum + Update
Update:
Details Of The $291 Trillion In Derivatives To Which American Taxpayers Are Exposed
Dear CIGAs,
This article was called to my attention by the legendary CIGA Green Hornet. It is simply too good, too correct and too educational not to be published. For those with the attention span larger than gold fish, this must be read and understood. Today’s JSMineset is big but there is a great deal to say. You might consider printing it out, and taking it in smaller doses.
Details Of The $291 Trillion In Derivatives To Which American Taxpayers Are Exposed April 17, 2012 |
The entire US GDP is less than $15 trillion each year. The gross notional amount of derivatives issued in the USA is more than $291 trillion. Does that sound like a lot? Apologists for derivatives dealers don’t like it when we talk about derivatives in terms of the notional totals. Large numbers, like these, discussed publicly, frighten too many people. According to the apologists, gross "notional" is misleading, because it does not include "hedges," offsets and the limits on interest rate risk.
In fact, the total amount of derivatives cannot be accurately presented in any other form but gross notional obligations. The risk to society cannot be judged in any other way. That’s why the FDIC, US Comptroller of the Currency and the Bank for International Settlement (BIS) all use gross notional.
Why the Global Banking System Is a Scam
BY
[We have argued here before that it is lies, systematic fraud and blatant duplicity by the central banks that have kept the global economy afloat in recent years. In the essay below, a regular in theRick’s Picks forum who goes by the handle ‘Buster’ provides as succinct and elegant an explanation of this as we have seen. His thoughts were originally published in the forum, but we are reprinting them below because they deserves a wider audience. RA]
[We have argued here before that it is lies, systematic fraud and blatant duplicity by the central banks that have kept the global economy afloat in recent years. In the essay below, a regular in theRick’s Picks forum who goes by the handle ‘Buster’ provides as succinct and elegant an explanation of this as we have seen. His thoughts were originally published in the forum, but we are reprinting them below because they deserves a wider audience. RA]
America is a great country. As with any business, its success is based on the balance of its assets against its liabilities. Its assets are a plentiful supply of natural resources; land & minerals, plus 300 million specimens of the most creative creature on planet Earth.
These assets are hindered by one main liability, a ruling class who imported a monetary system of theirs from Europe a while ago. It is a non-free market system which is enough of a hindrance to negate all the positives of any country in time. A simple enough system to understand, yet very seldom understood, even by the most intelligent among us, it would seem. It operates on the simple rule that currency is borrowed into existence with interest bearing on it at a given rate. The critical point to recognise is that the interest owing is not issued by the lender, only the principal, thereby meaning that the interest either has to be paid out of the sum of principal borrowed, or by confiscation of real physical assets, i.e. “real wealth”. The only thing keeping this eventuality from occurring is if a new borrower adds more money, borrowed as yet more debt, into the economy.