Demons & Dialog

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Posts Tagged ‘economic collapse

Media and Congressional Smoke and Mirrors/The Real AIG Conspiracy

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The Real AIG Conspiracy
By Prof. Michael Hudson
Global Research, March 18, 2009

It may seem odd, but the public outrage against $135 million in AIG bonuses is a godsend to Wall Street, AID scoundrels included. How can the media be so preoccupied with the discovery that there is self-serving greed to be found in the financial sector? Every TV channel and every newspaper in the country, from right to left, have made these bonuses the lead story over the past two days.

What is wrong with this picture? Is there not something over-inflated about the outrage led most vociferously by Senator Charles Schumer and Rep. Barney Frank, the two leading shills for the bank giveaways over the past year? And does Pres. Obama perhaps find it convenient that finally, at long last, he has been able to criticize something that he believes Wall Street has done wrong? Even the Wall Street Journal has gotten into the act. The government’s takeover of AIG, it pointed out, “uses the firm as a conduit to bail out other institutions.” So much more greed is involved than just that of AIG employees. The firm owed much more to other players – abroad as well as on Wall Street – than the assets it had. That is what drove it to insolvency. And popular opposition has been rising to how Mr. Obama and Mr. McCain could have banded together to support the bailout that, in retrospect, amounts to trillions and trillions of dollars thrown “down the drain.” Not really down the drain at all, of course – but given to financial speculators on the winning “smart” side of AIG’s bad financial gambles.

“The Washington crowd wants to focus on bonuses because it aims public anger on private actors,” it accused in a March 17 editorial. But instead of explaining that the shift is away from Wall Street grabbers of a thousand times the amount of bonuses being contested, it blames its usual all-purpose bete noire: Congress. Where the right and left differ is just whom the public should be directing its anger at!

Here’s the problem with all the hoopla over the $135 million in AIG bonuses: This sum is only less than 0.1% – one thousandth – of the $183 BILLION that the U.S. Treasury gave to AIG as a “pass-through” to its counterparties. This sum, over a thousand times the magnitude of the bonuses on which public attention is conveniently being focused by Wall Street promoters, did not stay with AIG. For over six months, the public media and Congressmen have been trying to find out just where this money DID go. Bloomberg brought a lawsuit to find out. Only to be met with a wall of silence.

Until finally, on Sunday night, March 15, the government finally released the details. They were indeed highly embarrassing. The largest recipient turned out to be just what earlier financial reporters had said was rumored: Mr. Paulson’s own firm, Goldman Sachs, headed the list. It was owed $13 billion in counterparty claims. So here’s the picture that’s emerging. Last September, Treasury Secretary Paulson, from Goldman Sachs, drew up a terse 3-page memo outlining his bailout proposal. The plan specified that whatever he and other Treasury officials did (thus including his subordinates, also from Goldman Sachs), could not be challenged legally or undone, much less prosecuted. This condition enraged Congress, which rejected the bailout in its first incarnation.

It now looks as if Mr. Paulson had good reason to put in a fatal legal clause blocking any clawback of funds given by the Treasury to AIG’s counterparties. This is where public outrage should be focused.

Instead, the leading Congressional shepherds of the bailout legislation – along with Mr. Obama, who came out in his final, Friday night presidential debate with Sen. McCain strongly in favor of the bailout in Mr. Paulson’s awful “short” version – have been posing as conspicuously as possible for the media to cover a deflected target – the AIG executives receiving bonuses, not the company’s counterparties.

There are two questions that one always must ask when a political operation is being launched. First, qui bono? Who benefits? And second, why now? In my experience, timing almost always is the key to figuring out the dynamics at work.

Regarding qui bono, what does Sen. Schumer, Rep. Frank, Pres. Obama and other Wall Street sponsors gain from this public outcry? For starters, it depicts them as hard taskmasters of the banking and financial sector, not its lobbyists carrying water for one giveaway after another. So the AIG kafuffle has muddied the water about where their political loyalties really lie. It enables them to strike a misleading pose – and hence to pose as “honest brokers” next time they dishonestly give away the next few trillion dollars to their major sponsors and campaign contributors.

Regarding the timing, I think I have answered that above. Talking about AIG bonuses has effectively distracted attention from the AIG counterparties who received the $183 billion in Treasury giveaways. The “final” sum to be given to its counterparties has been rumored to be $250 billion, do Sen. Schumer, Rep. Frank and Pres. Obama still have a lot more work to do for Wall Street in the coming year or so.

To succeed in this work – while mitigating the public outrage already rising against the bad bailouts – they need to strike precisely the pose that they’re striking now. It is an exercise in deception.

The moral should be: The wetter the crocodile tears shed over giving bonuses to AIG individuals (who seem to be largely on the healthy, bona fide insurance side of AIG’s business, not its hedge-fund Ponzi-scheme racket), the more they will distract public attention from the $180 billion giveaway, and the better they can position themselves to give away yet more government money (Treasury bonds and Federal Reserve deposits) to their favorite financial charities.

Isa 52:15 – “So shall he sprinkle many nations; the kings shall shut their mouths at him: for that which had not been told them shall they see; and that which they had not heard shall they consider.”

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Written by Michael Cooper

March 19, 2009 at 5:36 am

Martial Law ALERT! Pastor Told by Military Officer: Start Stocking Weapons, ammo, and Food

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This information was acquired today, March 11, 2009

About 1 year ago a friend of mine approached the pastor of a local church he was attending here in northern California about the strong possibility of martial law being declared in a future United States catastrophe or possibly by economic collapse. When my friend finished explaining his thoughts about what was coming, the pastor shrugged it off as conspiracy theory and said rather confidently, “We need martial law.”

Today, as my friend was driving through town, he got the urge to go in and see if the pastor was in and if possibly he had changed his mind in light of all the grim economic news being reported. To his shock the pastor did a complete 180 degree turn on what he had previously believed.
ALERT!

The pastor proceeded to tell my friend that a Lt. Colonel of the United States military called his family, who attends his church, and told them that when Barak Obama became president he put the entire military on martial law alert.

He then said the Officer told his family to begin stocking up on weapons and ammo as well as food and water.

The pastor then told my friend that he was in the process of securing a firearm that is unregistered for reasons we all know of course. Please forward this warning – michael144

Isa 52:15 – “So shall he sprinkle many nations; the kings shall shut their mouths at him: for that which had not been told them shall they see; and that which they had not heard shall they consider.”

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Putting 1 Trillion Dollars in Perspective/29,000 B.C.

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With the word trillion be passed around like it’s nothing more than a drop in the bucket to the “richness” of America, let’s take a look at the number 1 trillion and what it really means.

Going back in history 1 billion seconds will take you back just over 31 years. So you will probably say that 1 trillion seconds will go back, [what?] to the dark ages? WRONG!

Going back in history 1 trillion seconds would take you back…[Are you sitting down?] to 29,000 B.C. Did you get that? That’s 29,000 years before the year 1 A.D

George W. Bush doubled the debt from 5 trillion to 10 trillion in 8 short years. If you were to print 1 of those dollars every second it would take 310 thousand years to reach 10 trillion dollars. The national debt, counting total future liabilities, is around 55 trillion dollars.

Now do you see the magnitude of criminal behavior going on in Washington D.C.

You are being sold into slavery. Now ponder what they are saying about the total amount of money tied up in derivatives: Over 1 quadrillion which translates to over 1,000 trillion dollars.

You don’t really own that coffee table you just “bought.”

To pay off our 55 trillion dollar debt 100 million Americans making $100 dollars an hour, working 40 hours a week, 52 weeks in the year, it would take almost 3  years to pay off the 55 trillion dollar debt….giving up every dime we made!

Obama has an over 3 trillion dollar budget proposed in under 2 months of being President.

Remember, 1 trillion seconds ago it was 29,000 B.C. – michael144

AIG: The Nexus of Capital, Debt and Insurance

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The AIG Bailout: It is not about regulation and de-regulation, as Washington lawmakers would like you to believe. It is also not about the inability to control derivative transactions, as self-styled experts are claiming on your television sets.

In fact, if the facts are closely scrutinized, the alarm bells are all ringing the wrong jagged tune.

What we are facing today is the complete lack of comprehension of the very nexus which triggered the most remarkable phase of capital accumulation following the Second World War.

http://yourmortgageoryourlife.wordpress.com/2009/03/03/aig-the-nexus-of-capital-debt-and-insurance/

Written by Michael Cooper

March 4, 2009 at 4:50 pm

Industrialized Civilization Must Collapse

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By Betty Freauf

March 4, 2009
NewsWithViews.com

Dr. D. L. Cuddy wrote in February 1995 The Daily Record, “Is World Financial Collapse Possible”? He referred to the May 1990 issue of West Magazine where a writer by the name of Daniel Wood related a conversation he had with Maurice Strong regarding a novel Strong wanted to write. Wood writes: “Strong explains as background to the telling of the novel’s plot, the World Economic Forum convenes in Davos, Switzerland… A small group of those world leaders ‘would come to the conclusion that the rich countries would not sign an agreement (like at the Earth Summit in 1992) reducing their impact upon the environment, so in order to save the plant, the group decides: Isn’t the only hope for the planet that the industrialized civilization collapse?’”

President Obama has just released his $3.6 trillion budget which doesn’t even include the bank bailouts, the Stimulus package or the Omnibus bill under consideration, future promised entitlements and I’m betting this handful of evil world leaders – we can call the international banksters – are meeting in Davos, Switzerland knowing full well America’s current misleaders have absolutely no plan to pay off this monumental debt which is meant to reduce America to a third-world status, and they are talking of ways to bring in a global currency and in order to have a global currency, we’ll have to have a global tax. Catherine Austin Fitts in her February 14, 2009 article: Financial Coup d’Etat called this capital being sucked out of country after country a “global heist.”

Our federal government, our states, our counties and our cities are all bankrupt. You’ll recall President Barack Obama’s chief of staff, Rahm Israel Emanuel, said no crisis should be wasted. The Money Powers are making their move and the Democrats are planning to keep Barack Obama in the White House until he dies. Who would have believed a leadership coup d’Etat could be pulled off right under our noses in America?

I even heard Rush Limbaugh mention a coup the week of February 23rd.

A European military bride and friend of mine recently said what is happening in America is exactly what happened in Europe and callers to radio shows who originate from other countries also say the same thing. They see it but Americans can’t see it until it’s too late. My friend reminded me of what Rev. Martin Neimoller, a German Lutheran pastor, arrested by the Gestapo in 1937 has often been quoted: In Germany they came first for the Communists, and I didn’t speak up because I wasn’t a Communist. Then they came for the Jews, and I didn’t speak up because I wasn’t a Jew. Then they came for the trade unionists, and I didn’t speak up because I wasn’t a trade unionist. They they came for the Catholics, and I didn’t speak up because I was a Protestant. Then they came for me and by that time no one was left so speak up. In other words, we should never empower a lion and then complain when he eats us for lunch.

These world leaders had to find someone they could groom for a few years to pull this gigantic collapse off – enter President Democrat Barack Obama – a man with questionable credentials to even serve as our president and someone who no one heard about outside of Illinois until the presidential election. It was a Democrat Jimmy Carter replay.

Joan Veon says one-world government isn’t coming, it’s here. Foolish American voters in November 2008 didn’t realize they were embracing the iron fist of totalitarianism when they voted for the guy with a funny name. This messiah we now have in the White House relies on his Chief of Staff, Rahm Israel Emanuel, to run the office of President while he travels around the country using his usual charismatic and persuasive ways to continue to mesmerize enough Americans to make him dangerous.

As I’m drafting this article, the Conservative Political Action Committee (CPAC) is meeting this weekend in Washington, D.C. (Feb. 25, 26, 27, 28) Back in October 2006, Rush Limbaugh was doing everything to allegedly distance himself from the conservatives but now overflow rooms have been set up for those who wish to hear keynote speaker radio talk show host Rush Limbaugh. The news reports there are 9,000 in attendance.

The Hegelian Dialectic blame game is on. While the GOP’s new chairman, Michael Steele, talks about all the Democrat earmarks in the Stimulus bill, he fails to point out that 40% of those earmarks belong to Republicans. I have long been skeptical of The Heritage Foundation, a sponsor of the CPAC. Is that organization a wolf in sheep’s clothing as some claim? Is there really a connection between the Fabian Socialists and the Heritage Foundation? Is it possible they are more “radical” than “conservative?” The CPAC cheerleaders at the conference still promote Reaganomics as if it were Utopia. Are they trillions of dollars short and years too late? Have we been set up and sold out by the enemies from within? Article Continues

Written by Michael Cooper

March 4, 2009 at 4:33 pm

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The Lamb and the Dragon
The new world order is defeated
Michael Hulmes

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The Lamb and the Dragon – The new world order is defeated

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The push for the setting up of a one world government; We found the answer and the downfall of this dark power. “Come out of her my people”
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Written by Michael Cooper

March 1, 2009 at 4:17 pm

Radio chips coming soon to your driver’s license?

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WorldNetDaily.com A Free Press For A Free People
Radio chips coming soon to your driver’s license?

Privacy advocates are issuing warnings about a new radio chip plan that ultimately could provide electronic identification for every adult in the U.S. and allow agents to compile attendance lists at anti-government rallies simply by walking through the assembly.

The proposal, which has earned the support of Janet Napolitano, the newly chosen chief of the Department of Homeland Security, would embed radio chips in driver’s licenses, or “enhanced driver’s licenses.”

Read the latest now on WND.com.

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The push for the setting up of a one world government; We found the answer and the downfall of this dark power. “Come out of her my people”

Written by Michael Cooper

February 28, 2009 at 5:58 pm