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Thursday, January 14, 2010

Articles and Videos of Interest

Over the last week, my internet friends and I have collected the following links of interest. I will try and do this on a regular basis for my readers to sift through.

Ratigan and Spitzer on the financial crisis hearings-video

California Bond Rating Downgraded

government control of money market funds

what is China doing to us?

what is the stimulus and some facts about it

It is called:

Shadow Elite: How the World's New Power Brokers Undermine Democracy, Government, and the Free Market 

thanks for reading, jerry


The US is paying the Taliban hundreds of millions of dollars, which is in turn used to perpetuate their insurgency to fight our soldiers!!! When is enough enough? 


SPECTRE of Deflation said...

Jerry, Arizona just sold the State Capitol to make the nut for fiscal year 2010. The words, "very desperate" come to mind. What will they sell for fiscal 2011? The various states assets are being sold much as J6P must take what they can to the Pawn Broker to buy essentials. Welcome to our world GOVERNMENT!

State sells 20 properties for $735 million

SPECTRE of Deflation said...

Jerry, here's Karl D. with another priceless piece:

WE THE PEOPLE (Have Had Enough)

THE seminal question for this year - coming into the mid-term elections - is exactly that.

Have you had it?

Are you tired of being bent over the table with 29.9% credit card interest rates while these big banks borrow at zero from The Fed and use that money to speculate in the markets?

Are you tired of "too big to fail" - better stated as heads we (the banksters) win, tails you (the taxpayer) lose?

Are you enraged beyond words with the fact that this economic mess was not an accident - it was an intentional act of willful blindness and perhaps even fraud?

Do you feel helpless to do anything about the fact that Government has willfully and intentionally refused to both clean up the mess and prevent it from happening again due to the presence of huge lobbying interests in Washington DC - paid for by the very same banksters who nearly destroyed this nation?

Do you realize that we have fixed nothing - the bad loans are still there, they are still bad, that millions of Americans have lost their jobs, that the economy is not actually recovering (despite what they say) and that without resolving the actual problems odds are that within a few years, and perhaps within a few months, we will face another crash - this one likely bad enough to destroy our economy and perhaps our government?

Let's look at the facts.

•The testimony being put before the FCIC - the investigatory panel charged with looking into how the housing and foreclosure mess came about, and how our economy was stripped clean by the vultures that infest the banking business in this nation is a matter of record. I, and others, have been documenting this for more than two years. READ THE MISSION STATEMENT AND TESTIMONY OF PEOPLE LIKE MIKE MAYO.

•THE FBI has been warning of an "epidemic" of mortgage fraud since 2004. The banks knew this. Indeed, in 2004 their lobbyists convinced The Bush Administration to SUE to prevent state regulators from protecting YOU, THE CONSUMER, from predatory and unfair loans.

•Since 2006 there have been published stories that stated income loans were laced through-and-through with fraud:
One lender recently compared 100 stated-income loans with the borrowers' tax returns and found that only 10 of the borrowers were telling the truth about their wages, according to Mortgage Asset Research Institute, a division of data firm ChoicePoint Inc. (September 2006)

•The Wall Street and large commercial banks did not include these disclosures in their offering circulars for securitized debt.

•Wall Street entities knew they were at risk but bought "protection" (CDS, or "credit default swaps") from firms who they knew or should have known could not pay, including but not limited to AIG. This "allowed" them to consider assets they knew or should have known were rife with fraud as "money good".

SPECTRE of Deflation said...

Jerry, further proof that we live in very scary times

The Case For The Council Of The Chaotic Ten Tyrants

Disagree with me or not, but absolutely nothing good whatsoever can come of the recent move by Barack Obama establishing a Council of Governors by Executive Order to "better protect our nation". I have stated this before and it is that in the coming battle for freedom against the men and women of this country, TPTB (the powers that be) think that the model portrayed during the catastrophe in the aftermath of Hurricane Katrina that unfolded martial law on the television sets of America, will work against the whole nation when the coming chaos ensues the complete and utter financial destruction of the Unites States of America.

Federal members of the Council include the Secretary of Defense, the Secretary of Homeland Security, the Assistant to the President for Homeland Security and Counterterrorism, the Assistant to the President for Intergovernmental Affairs and Public Engagement, the Assistant Secretary of Defense for Homeland Defense and Americas’ Security Affairs, the U.S. Northern Command Commander, the Commandant of the Coast Guard, and the Chief of the National Guard Bureau. The Secretary of Defense will designate an Executive Director for the Council.

Note all of the positions and authorities mentioned in that paragraph. NORTHCOM runs CONUS or the continental United States of America out of the Cheyenne Mountain Complex deep in the Rocky Mountains of Colorado. FEMA operates out of Mt. Weather and this is where the continuity of government in a National Emergency will be run from chiefly after a declaration of martial law. All of these underground military bases and bunkers were built for a reason and I believe those reasons will come to fruition in the near future. Just look at the language used in the PDF from the Whitehouse, the language in the NSPD-51 PDF, and the following from the REX84 Program.

The plan called for the suspension of the Constitution, turning control of the government over to FEMA, appointment of military commanders to run state and local governments and the declaration of Martial Law. The Presidential Executive Orders to support such a plan were already in place. The plan also advocated the rounding up and transfer to "assembly centers or relocation camps" of a least 21 million American Negroes in the event of massive rioting or disorder, not unlike the rounding up of the Jews in Nazi Germany in the 1930s.

The second known time that FEMA stood by was in 1990 when Desert Storm was enacted. Prior to President Bush's invasion of Iraq, FEMA began to draft new legislation to increase its already formidable powers. One of the elements incorporated into the plan was to set up operations within any state or locality without the prior permission of local or state authorities. Such prior permission has always been required in the past. Much of the mechanism being set into place was in anticipation of the economic collapse of the Western World. The war with Iraq may have been conceived as a ploy to boost the bankrupt economy, but it only pushed the West into deeper recession.

It doesn't take much thought to add any emphasis that goes with any scenario that these tools can be used for very soon. I personally believe they intiated the Hurricane Katrina aftermath witnessed on tv as a "model". I also believe they think they can get away with such tyranny and disgrace the next time they have the opportunity.

Take these things seriously. We are living in dangerous times. There is no reason to cry wolf, but heed the warnings and the signs because crying wolf is not necessary if you were prepared for the day when these things would come. Prepare now if you have not already. I don't like what I see and neither should you.


SPECTRE of Deflation said...

Jerry, this is from Jesse's Cafe:

Big Banks Demand Cash Payments "Off the Books" from Homeowners to Avoid Foreclosure

"The Hobbs Act defines extortion as the obtaining of property from another, with his consent, induced by wrongful use of actual or threatened force, violence, or fear, or under color of official right. 18 U.S.C. S 1951."

Interesting story in which Citi and J.P. Morgan among second lien holders are demanding cash payments "off the books" from homeowners in order to allow a short sale to proceed in lieu of a foreclosure, a total loss and a black mark on their credit record.

Was my characterization of the big Wall Street banks as 'sociopathic' a bit harsh as a reader asked?

No, more likely understated. Remember, this is not some small local lender facing a loss and trying to get something out of it for their trouble. These are the TARP-sucking, discount window-feeding, bonus paying, fraudulent flim-flam 29.9% interest-charging pigmen who are demanding a pound of flesh from the down and out and the dispossessed as a consequence of their own reckless lending practices.

Change you can believe in.

The banks must be restrained, and the financial system reformed, and the economy brought back into balance, before there can be a sustained recovery.

SPECTRE of Deflation said...

All the Reich Moves
by William Norman Grigg

We will not recognize [American Fascism] as it rises. It will wear no black shirts here. It will probably have no marching songs. It will rise out of a congealing of a group of elements that exist here and that are the essential components of Fascism....

It will be at first decorous, humane, glowing with homely American sentiment. But a dictatorship cannot remain benevolent. To continue, it must become ruthless. When this stage is reached we shall see that appeal by radio, movies, and government-controlled newspapers to all the worst instincts and emotions of our people. The rough, the violent, the lawless men will come to the surface and into power. This is the terrifying prospect as we move along our present course. –

~ John T. Flynn, American Mercury, February 1941

SPECTRE of Deflation said...

Obama and the Global Police: More Friendly Fascism?
By John W. Whitehead

"The essence of Government is power; and power, lodged as it must be in human hands, will ever be liable to abuse."-- James Madison
Over the course of his first year in office, Barack Obama has shown himself to be a skillful and savvy politician, saying the things Americans want to hear while stealthily and inexorably moving forward the government's agenda of centralized power. For example, in one breath, Obama pays lip service to the need for greater transparency in government, while in another, he issues an executive order that will result in even more government secrecy.

He is aided in this Machiavellian mindset by a trusting populace inclined to take him at his word and a mainstream media seemingly loath to criticize him or scrutinize his actions too closely. A perfect example of this is the media's relative lack of scrutiny over Obama's recent transformation of Executive Order (EO) 12425 from a document that constitutionally limits the International Criminal Police Organization's (Interpol) activities domestically to one that establishes it as an autonomous police agency within the U.S.

Those who have voiced their concerns about this domestic empowerment of Interpol by President Obama--and that's exactly what it is--have been soundly criticized for fomenting political hysteria. But there is legitimate cause for concern. This presidential directive could undermine civil liberties and render the Fourth Amendment null and void.

First, some background on EO 12425. Issued by President Ronald Reagan in 1983, EO 12425 recognized Interpol as an international organization with certain privileges and immunities afforded to foreign diplomats. However, Reagan structured his executive order to ensure that Interpol, like every other law enforcement agency in this country, was accountable to the rule of law.

Aided by some crafty legal editing, Obama has manipulated Reagan's directive in such a way as to remove those restrictions so that Interpol now stands apart from domestic law enforcement agencies, its actions and records effectively immune from legal scrutiny. It was a shrewd move on Obama's part, so shrouded in a legal parsing of semicolons and redactions that it is barely comprehensible to the average citizen (unless you happen to have a few attorneys on hand who can sift through the historical record to make sense of the changes). But when you compile all the changes, the amended text of the Executive Order reads:
Property and assets of international organizations, wherever located and by whomsoever held, shall be immune from search, unless such immunity be expressly waived, and from confiscation. The archives of international organizations shall be inviolable.
The key here is the word "inviolable," which means that Interpol assets, records and other property are no longer subject to the search and seizure provisions of the Fourth Amendment, nor are they subject to public scrutiny under the Freedom of Information Act.

It should come as little surprise that when the White House issued the amended executive order on December 17, 2009, it issued no press releases and thus generated little in the way of media attention. It must be said, however, that had George W. Bush attempted to slip something like this through a week before Christmas, he would have and should have been soundly lambasted by the media.

Frankly, we should be hearing more about Obama's EO 12425--from the White House, from Congress, from the media. In fact, Congress should be holding hearings on the ramifications of allowing Interpol to operate with complete autonomy outside the strictures of the Constitution and above the rule of law in this country.

SPECTRE of Deflation said...

Ron Paul Powerful Speech - A Call for Revolution?

SPECTRE of Deflation said...

One In Eight Dollars In Receivables During November Collection Period Has Been Written Off As Uncollectable

Taking a playbook straight from Wall Street, consumers maxed out their store-branded retail cards and decided simply to not pay them in November-December. And even that could not prevent December retail sales from coming it at below expectations: one wonders just what it is that will drive the retail dynamo that ever more clueless pundits on CNBC claim will boost 2010. Here are the facts: "Fitch notes that in December more than one in every eight dollars of receivables was written off as uncollectable during the November collection period on an annualized basis." Well, at least the government (if not private retailers) got something out of this and managed to revise November sales slightly higher. Good luck repeating this.

One knows when a "rating agency" tells you things are bad and getting worse, it behooves one to listen:

"We do not foresee any meaningful improvement in the retail card credit quality in the coming months," said Managing Director Michael Dean. "U.S. consumers remain under stress on a number of fronts, most notably on the employment front, and retail card chargeoffs will continue to reflect those pressures."

Despite the elevated chargeoff and delinquency measures, Fitch expects retail card ABS ratings to remain stable throughout 2010. Excess spread remains robust, which coupled with loss coverage multiples and other structural protections will shield investors from potential downgrades or early amortization scenarios.

In December, Fitch's Retail Credit Card Chargeoff Index snapped a two-month decline, rising 122 basis points (bps) to 12.56% from the previous month.

Throughout 2009, chargeoffs surpassed the previous record (12.25% in January 2005) five times, establishing a new all-time high of 12.81% in August. Throughout the year, retail chargeoffs averaged 11.88% (more than 42% above the historical average of 8.34%).

Perhaps consumer have finally figured out the great scheme: if nobody will lend to you, what use are good FICO numbers? Which is why spend, spend, spend, and max out anything and everything you can. As for the consequences: well, just write a letter to Obama, explaining how your $50,000 in credit card debt makes you too big to fail. If you are lucky, you just may get bailed out. Holding a few trillion in Interest Rate swaps with Goldman as a counterparty sure would help.


SPECTRE of Deflation said...

Obama’s “Get Tough on Banks” Again Tries to Play the Public for Fools

SPECTRE of Deflation said...

Jerry, I thought this quote was astonishing, as I had no seen it previously:

General Smedley Butler, at the time of his death was the most decorated Marine in U.S. history. He was awarded 16 medals, 5 for heroism. His 33 year military career was marked by bravery and brilliance in command. His 1935 book, War is a Racket, detailed how profiteering by corporate fascists encouraged military imperialism by America’s leaders. He condemned the profit motive behind war and described it in no uncertain terms.

"I spent 33 years and four months in active military service and during that period I spent most of my time as a high class thug for Big Business, for Wall Street and the bankers. In short, I was a racketeer, a gangster for capitalism. I helped make Mexico and especially Tampico safe for American oil interests in 1914. I helped make Haiti and Cuba a decent place for the National City Bank boys to collect revenues in. I helped in the raping of half a dozen Central American republics for the benefit of Wall Street. I helped purify Nicaragua for the International Banking House of Brown Brothers in 1902-1912. I brought light to the Dominican Republic for the American sugar interests in 1916. I helped make Honduras right for the American fruit companies in 1903. In China in 1927 I helped see to it that Standard Oil went on its way unmolested. Looking back on it, I might have given Al Capone a few hints. The best he could do was to operate his racket in three districts. I operated on three continents."
General Smedley Butler

SPECTRE of Deflation said...

Jerry, A not to be missed Colbert Nation video:

The Word - Honor Bound

Your honor was so precious to the banks that they bundled it with other people's honor and sold it to Wall Street honor speculators.

SPECTRE of Deflation said...


SPECTRE of Deflation said...

Jerry, I have done no research on this Blogger, and maybe he's a crack-pot, but we have a convergence of events that support his thesis. Chiefly, that this govt. is systemically destroying the real economy of this country knowing full well the dire ramifications for the population, and as a context to establish a dictatorship and Martial Law, and this dictatorship will be one of the tenticles of the world vampire squid ruled over by world govt. and the elites. Food for thought at the very least.

Monday, January 18, 2010
Striking Matches
By Robert Jones

I forsee a mixture of paper, gasoline, and match strikes at a steady pace throughout the next 9 months. To put that into context or perspective, it translates as bank failures, bankruptcies, and pee-wee acts of terrorism. As the scuzzbuzzards continue their rape job of the US economy and the US dollar, people like the fire cracker popper over Detroit and lone gunman will continue to riddle the main stream media as a pretext mechanism to put all of the martial law tools in place before they are in full-slowly-but-surely swing as the economy is destroyed forever.

Body scanners (travel restrictions), INTERPOL, and the Council of Dictators.............stop trying to debunk everything and WAKE UP!

Get your house in order--sooner or later one of these matches is gonna catch America on fire.

Robert Jones

carlandjerry said...

Hi Spectre,

Thanks for all the pieces. I have not gotten to them all. The General Smedley Butler snip was interesting. Those were the days when the CIA was deep in the covert pockets of the oligarchs. Now it has spread out overtly into congress, the president and more. It was all about pushing guns, drugs, and getting hold of natural resources. We can thank the Internet for making such stuff available--fast.

The Robert Jones site was odd. It made me think that that was a CIA-government spying site attracting extremist types to comment and visit. It sounded very weird. Now that Obama wants to infiltrate extremist groups, such sites could be a way to track such followers. See Cass Sunstein.

The credit card companies are in for a huge shock as the average American and those holding business loans from their cards are going into default. I suspect that there will be a huge TBTF entity that will collapse in 2010. Americans are tapped out so 1 in 8 dollars in default on credit cards seems right.

I have to read more on this executive order re-written by Obama that originated out of the Bush administration. If it is as it appears, they are anticipating a nation in upheaval.

thanks, take care, jerry

SPECTRE of Deflation said...

Jerry, Rosenberg is a forecaster I very much respect, as he has had more hits than misses. He writes a sobbering piece regarding past/current events. Scary stuff:

Rosenberg’s ‘Not So Great Depression’

SPECTRE of Deflation said...

Jerry, I have two points regarding your thoughts:

"The Robert Jones site was odd. It made me think that that was a CIA-government spying site attracting extremist types to comment and visit. It sounded very weird. Now that Obama wants to infiltrate extremist groups, such sites could be a way to track such followers. See Cass Sunstein."

You could absolutely be spot on regarding his site. What strikes me most is that we have to worry about such things in the Land of The Free and Home of The Brave. I never thought we would be where we now find ourselves.

"I have to read more on this executive order re-written by Obama that originated out of the Bush administration. If it is as it appears, they are anticipating a nation in upheaval."

Jerry, I believe this originated during the Reagan Administration during his first term, and afforded Interpol Diplomatic Immunity. However, Obama's change goes far beyond this legal status with the key point being:

"But when you compile all the changes, the amended text of the Executive Order reads:

"Property and assets of international organizations, wherever located and by whomsoever held, shall be immune from search, unless such immunity be expressly waived, and from confiscation. The archives of international organizations shall be inviolable".

"The key here is the word "inviolable," which means that Interpol assets, records and other property are no longer subject to the search and seizure provisions of the Fourth Amendment, nor are they subject to public scrutiny under the Freedom of Information Act."

This all stinks to high heaven, and combined with the Governors Council of 10 and 10 FEMA Regions, it's getting stinkier by the minute. Here's a hypothetical:

How about declaring martial law based on a false flag event, which federalizes all police agencies within the US, allows the 10 Governors to become regional Governors of FEMA States which allows them to send the various states individual national guard to another state to enact martial law without doing it to their own neighbors, and allows Interpol to do the down and dirty work with no threat of prosecution, individual or Agency, based on the new language? Who says Washington can't plan?