Judicial Watch: New Documents Reveal DOJ, IRS, and FBI Plan to Seek Criminal Charges of Obama Opponents

Lois Lerner and IRS concoct reason to put Obama’s opponents in jail before re-election

irsobama

 

by Judicial Watch | July 7, 2015

Judicial Watch today released new Department of Justice (DOJ) and Internal Revenue Service (IRS) documents that include an official “DOJ Recap” report detailing an October 2010 meeting between Lois Lerner, DOJ officials and the FBI to plan for the possible criminal prosecution of targeted non-profit organizations for alleged illegal political activity.

The newly obtained records also reveal that the Obama DOJ wanted IRS employees who were going to testify to Congress to turn over documents to the DOJ before giving them to Congress. Records also detail how the Obama IRS gave the FBI 21 computer disks, containing 1.25 million pages of confidential IRS returns from 113,000 nonprofit social 501(c)(4) welfare groups  – or nearly every 501(c)(4) in the United States – as part of its prosecution effort. According to a letter from then-House Oversight Committee Chairman Darrell Issa (R-CA) to IRS Commissioner John Koskinen, “This revelation likely means that the IRS – including possibly Lois Lerner – violated federal tax law by transmitting this information to the Justice Department.”

The documents were produced subsequent to court orders in two Judicial Watch Freedom of Information Act (FOIA) lawsuits: Judicial Watch v. Internal Revenue Service (No. 1:14-cv-1956) and Judicial Watch v. Department of Justice (No. 1:14-cv-1239).

The new IRS documents include a October 11, 2010 “DOJ Recap” memo sent by IRS Exempt Organizations Tax Law Specialist Siri Buller to Lerner and other top IRS officials explaining an October 8 meeting with representatives from the Department of Justice Criminal Division’s Public Integrity Section and “one representative from the FBI” to discuss the possible criminal prosecution of nonprofit organizations for alleged political activity:

On October 8, 2010, Lois Lerner, Joe Urban [IRS Technical Advisor, TEGE], Judy Kindell [top aide to Lerner], Justin Lowe [Technical Advisor to the Commissioner of Tax-Exempt and Government Entities], and Siri Buller met with the section chief and other attorneys from the Department of Justice Criminal Division’s Public Integrity Section, and one representative from the FBI, to discuss recent attention to the political activity of exempt organizations.

The section’s attorneys expressed concern that certain section 501(c) organizations are actually political committees “posing” as if they are not subject to FEC law, and therefore may be subject to criminal liability. The attorneys mentioned several possible theories to bring criminal charges under FEC law. In response, Lois and Judy eloquently explained the following points:

  • Under section 7805(b), we may only revoke or modify an organization’s exemption retroactively if it omitted or misstated a material fact or operated in a manner materially different from that originally represented.

 

  • If we do not have these misrepresentations, the organization may rely on our determination it is exempt. However, the likelihood of revocation is diminished by the fact that section 501(c)(4)-(c)(6) organizations are not required to apply for recognition of exemption.

 

  • We discussed the hypothetical situation of a section 501(c)(4) organization that declares itself exempt as a social welfare organization, but at the end of the taxable year has in fact functioned as a political organization. Judy explained that such an organization, in order to be in compliance, would simply file Form 1120-POL and paying tax at the highest corporate rate.

Lois stated that although we do not believe that organizations which are subject to a civil audit subsequently receive any type of immunity from a criminal investigation, she will refer them to individuals from CI who can better answer that question. She explained that we are legally required to separate the civil and criminal aspects of any examination and that while we do not have EO law experts in CI, our FIU agents are experienced in coordinating with CI.

The attorneys asked whether a change in the law is necessary, and whether a three-way partnership among DOJ, the FEC, and the IRS is possible to prevent prohibited activity by these organizations. Lois listed a number of obstacles to the attorneys’ theories:

[REDACTED]

She pointed to Revenue Ruling 2004-6, which was drafted in light of the electioneering communication rules before they were litigated.

Just prior this meeting, the IRS began the process of providing the FBI confidential taxpayer information on nonprofit groups. An IRS document confirms the IRS supplied the FBI with 21 disks containing 1.25 million pages of taxpayer records:

FROM: Hamilton David K

SENT: Tuesday, October 5, 2010  2:49 PM

TO: Whittaker Sherry [Director, GE Program Management], Blackwell Robert M

SUBJECT: RE: Question

There are 113,000 C4 returns from January 1, 2007 to now. Assuming they want all pages including redacted ones, that’s 1.25 million pages … If we get started on it right away, before the 10th when the monthly extracts start, we can probably get it done in a week or so….

The DOJ documents also include a July 16, 2013, email from an undisclosed Justice Department official to a lawyer for IRS employees asking that the Obama administration get information from congressional witnesses before Congress does:

One last issue. If any of your clients have documents they are providing to Congress that you can (or would like to) provide to us before their testimony, we would be pleased to receive them. We are 6103 authorized and I can connect you with TIGTA to confirm; we would like the unredacted documents.

“These new documents show that the Obama IRS scandal is also an Obama DOJ and FBI scandal,” said Judicial Watch President Tom Fitton. “The FBI and Justice Department worked with Lois Lerner and the IRS to concoct some reason to put President Obama’s opponents in jail before his reelection. And this abuse resulted in the FBI’s illegally obtaining confidential taxpayer information. How can the Justice Department and FBI investigate the very scandal in which they are implicated?”

On April 16, 2014, Judicial Watch forced the IRS to release documents revealing for the first time that Lerner communicated with the DOJ in May 2013 about whether it was possible to launch criminal prosecutions against targeted tax-exempt entities. The documents were obtained due to court order in an October 2013 Judicial Watch FOIA lawsuit filed against the IRS.

Those documents contained an email exchange between Lerner and Nikole C. Flax, then-chief of staff to then-Acting IRS Commissioner Steven T. Miller discussing plans to work with the DOJ to prosecute nonprofit groups that “lied” (Lerner’s quotation marks) about political activities. The exchange included a May 8, 2013, email by Lerner:

I got a call today from Richard Pilger Director Elections Crimes Branch at DOJ … He wanted to know who at IRS the DOJ folk s [sic] could talk to about Sen. Whitehouse idea at the hearing that DOJ could piece together false statement cases about applicants who “lied” on their 1024s –saying they weren’t planning on doing political activity, and then turning around and making large visible political expenditures. DOJ is feeling like it needs to respond, but want to talk to the right folks at IRS to see whether there are impediments from our side and what, if any damage this might do to IRS programs. I told him that sounded like we might need several folks from IRS…

Democratic Rhode Island Senator Sheldon Whitehouse held a hearing on April 9, 2013, during which, “in questioning the witnesses from the DOJ and IRS, Whitehouse asked why they have not prosecuted 501(c)(4) groups that have seemingly made false statements about their political activities…”

The House Oversight Committee followed up on these Judicial Watch disclosures with hearings and interviews of Pilger and his boss, DOJ Public Integrity Chief Jack Smith. Besides confirming the DOJ’s 2013 communications with Lerner, Pilger admitted to the committee that DOJ officials met with Lerner in October 2010. Judicial Watch obtained new documents about these meetings in December 2014 showing the Obama DOJ initiated outreach to the IRS about prosecuting tax-exempt entities.

Following Judicial Watch’s lead, the House also found out about the IRS transmittal of the confidential taxpayer information to the FBI. Because of this public disclosure, the FBI was forced to return the 1.25 million pages to the IRS.

 

 

 

 

‘We’re Training ISIL’: White House Website Corrects Obama’s Speech Blooper

President’s embarrassing error during press briefing amended on official transcript

by Paul Joseph Watson | July 7, 2015

The White House.gov website has corrected an embarrassing mistake made by Barack Obama during his press briefing yesterday about the Islamic State when the President said that U.S. forces were “training ISIL.”

Youtubeobama

 

During his speech, Obama uttered the line, “with the additional steps I ordered last month, we’re speeding up training of ISIL forces.”

The White House.gov transcript left in the original quote, but placed the word ‘Iraqi’ in brackets after the word ISIL, correcting Obama’s mistake.

This is by no means the first time that the White House has edited transcripts of Obama’s speeches to put the president in a better light or cover up for his mistakes.

Last October, the White House completely scrubbed a reference Obama made to unpaid pills being stacked up at his home in Chicago, replacing it with the quote, “there’s still junk on my desk, including some — newspapers and all kinds of stuff.”

White House Press Secretary Josh Earnest later dubiously claimed that the line about Obama’s bills was left out because the recording equipment malfunctioned.

The White House again edited Obama’s remarks in March when he mistakenly stated, “the bond between the United States and America is unbreakable.”

When the Bush administration caught flak for amending transcripts, they immediately switched to providing the president’s remarks verbatim, which was not an easy decision considering George W. Bush’s notorious “Bushisms”.

However, the Obama White House seems happy to continue amending history instead of providing an accurate record of what the president actually said.

Greece ‘48 Hours Away From Unrest’

Greek Unrest

Hedge fund managers turned cautious on global equities in the run-up to Sunday’s vote

by Will Wainewright | Bloomberg | July 6, 2015

Greek Prime Minister Alexis Tsipras probably has 48 hours to resolve a standoff with creditors before civil unrest breaks out and ATMs run out of cash, hedge fund Balyasny Asset Management said.

Fund managers are questioning how the International Monetary Fund and Europe’s leaders can seal a deal with Athens following the “no” vote in a Greek referendum on Sunday. Sixty-one percent of voters rejected austerity, increasing the likelihood of an exit from the euro area.

“I don’t see a good resolution any time soon,” Colin Lancaster, senior managing director with Balyasny, a $9 billion fund based in Chicago, said in an e-mailed statement. “The big question is whether the EU adopts a strategy of waiting them out. The hope would be that the unrest leads to a unity government or change in government.”

Hedge fund managers turned cautious on global equities in the run-up to Sunday’s vote, with sales of stocks sending a gauge of manager bullishness sliding. The Evercore ISI index of hedge fund long versus short bets was at 50.5 in the week ending July 1, down from 51.8 at the start of June, data from the New York-based research firm show.

The survey, based on 31 hedge funds with about $86 billion under management, tracks investments on a zero through 100 scale. Readings of zero show “maximum” short selling, or the sale of borrowed equities with the hope of profiting by buying them at lower prices later; 100 means “maximum” bullish bets. The index has dipped below 50 only twice in the past year.

 

Plan B

There’s little chance of Greece accepting a deal unless the country’s debt is restructured, Philippe Ferreira, global strategist at Lyxor Asset Management, a Paris-based unit of Societe Generale SA with investments in about 100 hedge funds, said in an e-mail. Investors should be cautious as European Union leaders may not have an adequate plan B if negotiations fail, he said.

Greece has been targeted by some hedge funds seeking returns in a market viewed as too risky for many traditional investors. John Paulson of Paulson & Co. bought bank stocks, while Perry Capital, Knighthead Capital Management and Monarch Alternative Capital purchased Greek debt. Randy Smith, who runs Alden Global Capital, started a Greek-focused fund in December.

Bruce Richards, co-founder of U.S. hedge fund Marathon Asset Management, said last week Tsipras will be gone within 30 days regardless of the outcome of the nation’s referendum.

A “no” vote would cause “rioting in the streets come weeks from now when the banks are closing and you have drachma,” he said in an interview on the television program “Wall Street Week.”

Europe’s leaders run the danger of setting a precedent for other governments if they agree to a writedown for Greece, said Savvas Savouri, chief economist at Toscafund Asset Management, a $3 billion London-based hedge fund.

“Other debt-burdened countries will campaign for the same treatment,” he said. “That is especially relevant with a Spanish election in December.”

 

 

 

The Troika Swindle: Greeks Owe Nothing

broken-euro-greece

 

by Kurt Nimmo | Infowars.com | July 6, 2015

In June the Greek “Truth Committee on Public Debt” established by Zoi Konstantopoulou the speaker of the Greek parliament “came to the conclusion that Greece should not pay this debt because it is illegal, illegitimate, and odious.”

The establishment media has hidden from view the facts behind the debt and has sided with the banks in declaring the population of Greece deserves austerity and its attendant poverty and misery because of the Greek government’s intransigence and refusal to accept the harsh conditions of the Troika, consisting of the IMF, European Commission and European Central Bank.

Left unsaid is the fact a large portion of the debt totalling about €245 billion was fraudulently dumped on the country in the course of huge bank bailouts in 2010 and 2012.

“And since the huge bank bailouts, ‘Greek debt’ exists only on the basis of the Wall Street practice for unpayable debt, known as ‘extend and pretend.’ Its interest and repayment terms have been so dramatically changed by the creditors — in a backhanded admission that it cannot be paid — that in debt-market terms, it is nearly worthless,” Paul Gallagher wrote in February.

Gallagher explains that the Greek debt swindle is similar to the TARP scam foisted on the American people following the subprime fiasco and a move by the Federal Reserve to print $4 trillion of new money to cover the gambling debt of the financial class. “Its political perpetrators are the same huge banks, and the European Central Bank working with the Federal Reserve,” he writes.

In the course of buying up toxic mortgage securities and derivatives from the United States, the European banks engaged in their own subprime scam and made unrepayable loans to governments in Greece, Ireland, Portugal, and Hungary.

Gallagher explains that the Greek debt swindle is similar to the TARP scam foisted on the American people following the subprime fiasco and a move by the Federal Reserve to print $4 trillion of new money to cover the gambling debt of the financial class. “Its political perpetrators are the same huge banks, and the European Central Bank working with the Federal Reserve,” he writes.

In the course of buying up toxic mortgage securities and derivatives from the United States, the European banks engaged in their own subprime scam and made unrepayable loans to governments in Greece, Ireland, Portugal, and Hungary.

 

 

Rothschilds & Rockefellers: Trillionaires Of The World – A Brief history

rothschild

 

 

 

 

 

 

Originally Posted January 2010…

“Money is Power”, or shall we say, “The Monopoly to Create Credit Money and charge interest is Absolute Power”. (Alex James)

Amsel (Amschel) Bauer Mayer Rothschild, 1838:

“Let me issue and control a Nation’s money and I care not who makes its laws”.

Letter written from London by the Rothschilds to their New York agents introducing their banking method into America:

“The few who can understand the system will be either so interested in its profits, or so dependent on its favours, that there will be no opposition from that class, while, on the other hand, that great body of people, mentally incapable of comprehending the tremendous advantage that Capital derives from the system, will bear its burden without complaint and, perhaps, without even suspecting that the system is inimical to their interests.”

Nathan Rothschild said to the Commons Secret Committee on the question early in 1819:

“In what line of business are you? – Mostly in the foreign banking line. “Have the goodness to state to the Committee in detail, what you conceive would be the consequence of an obligation imposed upon the Bank [of England, which he owned] to resume cash payments at the expiration of a year from the present time? – I do not think it can be done without very great distress to this country; it would do a great deal of mischief; we may not actually know ourselves what mischief it might cause. “Have the goodness to explain the nature of the mischief, and in what way it would be produced? – Money will be so very scarce, every article in this country will fall to such an enormous extent, that many persons will be ruined.”

The director of the Prussian Treasury wrote on a visit to London that Nathan Rothschild had as early as 1817: “.., incredible influence upon all financial affairs here in London. It is widely stated.., that he entirely regulates the rate of exchange in the City. His power as a banker is enormous”.

Austrian Prince Mettemich’s secretary wrote of the Rothschilds, as early as 1818, that: “… they are the richest people in Europe.”

Referring to James Rothschild, the poet Heinrich Heine said:

“Money is the god of our times, and Rothschild is his prophet.”

James Rothschild built his fabulous mansion, called Ferrilres, 19 miles north-east of Paris. Wilhelm I, on first seeing it, exclaimed:

“Kings couldn’t afford this. It could only belong to a Rothschild!”

Author Frederic Morton wrote that the Rothschilds had:

“conquered the World more thoroughly, more cunningly, and much more lastingly than all the Caesars before…”

As Napoleon pointed out: “Terrorism, War & Bankruptcy are caused by the privatization of money, issued as a debt and compounded by interest “- he cancelled debt and interest in France – hence the Battle of Waterloo.

Some writers have claimed that Nathan Rothschild “warned that the United States would find itself involved in a most disastrous war if the bank’s charter were not renewed.” (do you see the similarities here? If you don’t play the game an economic disaster will fall on you and you will be destroyed.)

“There is but one power in Europe and that is Rothschild.”

19th century French commentator.

Lord Rothschild (Rockefellers and Rothschilds’ relatives) in his book The Shadow of a Great Man quotes a letter sent from Davidson on June 24, 1814 to Nathan Rothschild,

“As long as a house is like yours, and as long as you work together with your brothers, not a house in the world will be able to compete with you, to cause you harm or to take advantage of you, for together you can undertake and perform more than any house in the world.” The closeness of the Rothschild brothers is seen in a letter from Soloman (Salmon) Rothschild to his brother Nathan on Feb. 28, 1815, “We are like the mechanism of a watch: each part is essential.” (2)

This closeness is further seen in that of the 18 marriages made by Mayer Amschel Rothschild’s grandchildren – 16 were contracted between first cousins.

“Centralisation of credit in the hands of the state, by means of a national bank with state capital and an exclusive monopoly.” The Communist Manifesto. In the case of the Bolshevik revolution, Rothschilds/ Rockefellers’ Chase Bank owned the state. In the US, the FED owners “own” the state.

Rothschilds’ favorite saying who along with the Rockefellers are the major Illuminati Banking Dynasties: “Who controls the issuance of money controls the government!”

Nathan Rothschild said (1777-1836):

“I care not what puppet is placed on the throne of England to rule the Empire. The man who controls Britain’s money supply controls the British Empire and I control the British money supply.”

Rockefeller is reported to have said: “Competition is a sin”. “Own nothing. Control everything”. Because he wants to centralize control of everything and enslave us all, i.e. the modern Nimrod or Pharaoh.

The Rothschild were behind the colonization and occupations of India and the Rothschild owned British Petroleum was granted unlimited rights to all offshore Indian oil, which is still valid till this day.

“Give me the control of the credit of a nation, and I care not who makes the laws.”

The famous boastful statement of Nathaniel Meyer Rothschild, speaking to a group of international bankers, 1912:

“The few who could understand the system (cheque, money, credits) will either be so interested in its profits, or so dependent on its favours, that there will be no opposition from that class, while on the other hand, the great body of people, mentally incapable of comprehending the tremendous advantage that capital derives from the system, will bear its burdens without complaint, and perhaps without even suspecting that the system is inimical to their interests.” The boastful statement by Rothschild Bros. of London.

[efoods]These people are the top masterminds and conspired for the creation of illegal FEDERAL RESERVE BANK in 1913: Theodore Roosevelt, Paul Warburg – Representative Of Rothschild, Woodrow Wilson – U.S. President Signed FED Into Act, Nelson W. Aldrich – Representative Of Rockefeller, Benjamin Strong – Representative Of Rockefeller, Frank A. Vanderlip – Representative Of Rockefeller, John D. Rockefeller – Rockefeller Himself, Henry Davison – Representative Of J. P. Morgan, Charles Norton – Representative Of J. P. Morgan.

In the last century, members of the British Fabian Society dynastic banking families in the City of London financed the Communist takeover of Russia. Trotsky in his biography refers to some of the loans from these British financiers going back as far as 1907. By 1917 the major subsidies and funding for the Bolshevik Revolution were co-ordinated and arranged by Sir George Buchanan and Lord Alfred Milner. [no doubt using money from Cecil Rhodes’ South African gold and diamond legacy – Ed]

The Communist system in Russia was a “British experiment” designed ultimately to become the Fabian Socialist model for the British takeover of the World through the UN and EU. The British plan to takeover the World and bring in a “New World Order” began with the teachings of John Ruskin and Cecil Rhodes at Oxford University. Rhodes in one of his wills in 1877 left his vast fortune to Lord Nathan Rothschild as trustee to set up the Rhodes Scholarship Program at Oxford to indoctrinate promising young graduates for the purpose, and also establish a secret society [Royal Institute of International Affairs RIIA, which branched into the Round Table, the Bilderbergers, the CFR, the Trilateral, etc — Ed] for leading business and banking leaders around the World who would work for the City to bring in their Socialist World government.

Rothschild appointed Lord Alfred Milner to implement the plan.

Benjamin Freedman (Friedman) said this in 1961, Washington (he was a millionaire insider in international Zionist organizations, friend to 4 US presidents, and was also part of the 117-man strong Zionist delegation at the signing of the Treaty of Versailles in 1919 where Germany was forced into bankruptcy to the Zionist BankLords and social chaos):

“Two years into WW1, Germany, which was then winning the war, offered Britain and France a negotiated peace deal, but German Zionist groups seeing the opportunity made a deal with Britain to get the United States into the war if Britain promised to give the Zionists Palestine.”

In other words, they made this deal:

“We will get the United States into this war as your ally. The price you must pay us is Palestine after you have won the war and defeated Germany, Austria-Hungary, and Turkey.”

They made that promise, in October of 1916. And shortly after that — I don’t know how many here remember it — the United States, which was almost totally pro-German because the newspapers and mass communications media here were controlled by the Zionist bankers who owned the major commercial banks and the 12 Federal Reserve Banks (the original Stockholders of the Federal Reserve Banks in 1913 were the Rockefeller’ s, JP Morgan, Rothschild’s, Lazard Freres, Schoellkopf, Kuhn-Loeb, Warburgs, Lehman Brothers and Goldman Sachs, all with roots in Germany’s Zionists like the British Royal family, J.P. Morgan, Carnegie, Bush, Rumsfeld, Clintons, the Nazis that were brought into the CIA, etc.

http://land.netonecom.net/tlp/ref/federal_reserve.shtml ) and they were pro-German because they wanted to use Germany to destroy the Czar of Russia and let the Communists whom they funded take over. The German Zionist bankers — Rothschilds, Rockefeller, Kuhn Loeb and the other big banking firms in the United States refused to finance France or England to the extent of one dollar. They stood aside and they said:

“As long as France and England are tied up with Russia, not one cent!”

They poured money into Germany, fighting with Germany against Russia, to lick the Czarist regime. The newspapers had been all pro-German, where they’d been telling the people of the difficulties that Germany was having fighting Great Britain commercially and in other respects, then after making the deal with the British for Palestine, all of a sudden the Germans were no good. They were villains. They were Huns. They were shooting Red Cross nurses. They were cutting off babies’ hands. And they were no good. The Zionists in London sent cables to the US, to Justice Brandeis: “Go to work on President Wilson. We’re getting from England what we want. Now you go to work, and you go to work on President Wilson and get the US into the war.” And that did happen. Shortly after President Woodrow Wilson declared war on Germany.

The power of the Rothschild family was evidenced on 24 Sept 2002 when a helicopter touched down on the lawn of Waddedson Manor, their ancestral home in Buckinghamshire, England. Out of the helicopter strode Warren Buffet, – touted as the second richest man in the World but really a lower ranking player- and Arnold Schwarzenegger (the gropinator), at that time a candidate for the Governorship of California.

Also in attendance at this two day meeting of the World’s most powerful businessmen and financiers hosted by Jacob Rothschild were James Wolfensohn, president of the World Bank and Nicky Oppenheimer, chairman of De Beers. Arnold went on to secure the governorship of one of the biggest economies on the planet a year later. That he was initiated into the ruling class in the Rothschilds’ English country manor suggests that the centre of gravity of the three hundred trillion dollar cartel is in the U.K. and Europe not the U.S.

A recent article in the London Financial Times indicates why it is impossible to gain an accurate estimate of the wealth of the Trillionaire bankers. Discussing the sale of Evelyn Rothschild’s stake in Rothschild Continuation Holdings, it states: …[this] requires agreement on the valuation of privately held assets whose value has never been tested in a public market. Most of these assets are held in a complex network of tax-efficient structures around the World.

Queen Elizabeth II’s shareholdings remain hidden behind Bank of England Nominee accounts. The Guardian newspaper reported in May 2002 …

“the reason for the wild variations in valuations of her private wealth can be pinned on the secrecy over her portfolio of share investments. This is because her subjects have no way of knowing through a public register of interests where she, as their head of state, chooses to invest her money. Unlike the members of the Commons and now the Lords, the Queen does not have to annually declare her interests and as a result her subjects cannot question her or know about potential conflicts of interests…”

In fact, the Queen even has an extra mechanism to ensure that her investments remain secret – a nominee company called the Bank of England Nominees. It has been available for decades to the entire World’s current heads of state to allow them anonymity when buying shares. Therefore, when a company publishes a share register and the Bank of England Nominees is listed, it is not possible to gauge whether the Queen, President Bush or even Saddam Hussein is the true shareholder.

By this method, the Trillionaire masters of the universe remain hidden whilst Forbes magazine poses lower ranking billionaires like Bill Gates and Warren Buffett as the richest men in the World. Retired management consultant Gaylon Ross Sr, author of Who’s Who of the Global Elite, has been tipped from a private source that the combined wealth of the Rockefeller family in 1998 was approx. (US) $11 trillion and the Rothschilds (U.S.) $100 trillion.

However, something of an insider’s knowledge of the hidden wealth of the elite is contained in the article, “Will the Dollar and America Fall Down on August 19?..” on page 1 of the 12th July 2001 issue of Russian newspaper Pravda. The newspaper interviewed Tatyana Koryagina, a senior research fellow in the Institute of Macroeconomic Researches subordinated to the Russian Ministry of Economic Development (Minekonom) on the subject of a recent conference concerning the fate of the US. economy.

Koryagina: The known history of civilization is merely the visible part of the iceberg. There is a shadow economy, shadow politics and also a shadow history, known to conspirologists. There are [unseen] forces acting in the World, unstoppable for [most powerful] countries and even continents.

Ashley Mote (EU):

“Mr President, I wish to draw your attention to the Global Security Fund, set up in the early 1990s under the auspices of Jacob Rothschild. This is a Brussels-based fund and it is no ordinary fund: it does not trade, it is not listed and it has a totally different purpose. It is being used for geopolitical engineering purposes, apparently under the guidance of the intelligence services.”

“I have previously asked about the alleged involvement of the European Union’s own intelligence resources in the management of slush funds in offshore accounts, and I still await a reply. To that question I now add another: what are the European Union’s connections to the Global Security Fund and what relationship does it have with European Union institutions? “

Recently, Ashley Mote of the European Union (EU) asked this volatile question in a public EU meeting, a question never answered, as Mr. Mote, merely by asking this question, was immediately scratched from the White House Christmas card list and placed on its top ten hit list. The Illuminati’s cash cow, grazing freely on the World wide pasture of greenbacks, isn’t called “Elsie”

…but instead is called the Global Security Fund, a name actually meaning in the secret cult’s language Global Terrorist Fund. In simple terms, it’s a gigantic illegal trust fund, estimated by undercover overseas financial investigators at 65 trillion dollars, set-up for “Illuminati rainy days” and established when it is desperately needed in a pinch for bribery, assassinations and sponsoring World wide terrorist activities to divert attention from their banking mafia. Although the fund is cloaked in secrecy and made possible by the Western civilization’ s Federal Reserve banking system, investigators trying to pry into the Illuminati’s secret treasure trove have uncovered some interesting facts.

 

 

 

Our worst fears about the market are coming true

NYSE-floor

 

 

 

 

 

 

Sean Goldsmith in The Stansberry Digest: 

Today’s Digest carries a grave warning: Our worst fears about the global monetary system are coming true. The wheels are starting to fall off. A crash could be just around the corner.

Below, we’ll show you the specific steps we’re taking to prepare… and how you can do the same. But first, we need to explain how and why the global monetary system is coming unglued. We do this by explaining what’s going on in the giant global market that you probably know nothing about.

Most investors don’t pay any attention to the currency market. But they should.

The currency market is the world’s largest, most important market. It’s where governments, corporations, and investors execute trillions of dollars’ worth of transactions every day. It’s where a Japanese carmaker goes to exchange money earned in American dollars to pay expenses in Japanese yen. It’s where a U.S.-based hotel chain must exchange euros earned in Germany into dollars that can sit in its U.S. bank account. It’s where nations buy and sell currencies by the billions in the normal course of doing business.

The currency market is far, far larger than the stock market. After all, it’s the market for money. When there are real problems in the economy, you see them clearly in the currency market.

We realize the currency market isn’t as exciting as the next Apple or the next Facebook. It doesn’t have the allure of making a killing in a big oil strike. You won’t hear your brother-in-law opining on the likely direction of the Australian dollar.

But ignoring this market – and the messages it is sending right now – is a huge mistake that could bankrupt you and your family.

As you’re about to see, many of the world’s major currencies are plummeting in value right now. They’re plummeting in response to insane government policies that constitute the largest monetary experiment in human history. Monetary experts like Jim Rickards say these policies constitute “currency wars.” This is where the politicians of major economies actively devalue their currencies in order to make their exports cheaper to the rest of the world… and make it so they can pay off debts with devalued currencies. It’s truly a “race to zero.”

The result of this experiment will be financial disaster. And you must take steps to protect yourself.

For example… you may have heard the value of the Japanese yen is declining. But do you know why?

A nation’s currency is like a rough “stock price” of that nation. Generally speaking, if a country manages its finances well and engages in productive behavior, its currency appreciates over the long term. If a country racks up huge debts and runs its finances like a drug addict, its currency depreciates over the long term.

For example, Zimbabwe and Venezuela are two of the worst-managed economies of the last decade. The leaders of these nations treated the national coffers as a personal piggy bank… While they got rich, their constituents toiled in poverty and suffered hyperinflation. Zimbabwe’s currency has lost nearly 75% of its value since 2009 (when its currency was reissued). Venezuela’s currency has lost 70% of its value over the past 10 years.

This brings us to Japan. Japan is the world’s third-largest economy. It’s a leader in automobile and electronics production. But the country announced it officially entered a recession in November… The country’s GDP shrank an annualized 7.1% in the second quarter of 2014 from the previous quarter.

This recession hit despite Prime Minister Shinzo Abe’s massive quantitative easing (QE) in an effort to stimulate Japan’s economy. Beginning in 2012, Abe printed 60 trillion to 70 trillion yen a year (nearly $600 billion). Following the recent recession announcement, Abe said he would up the QE to 80 trillion yen ($676 billion).

Bank of Japan Governor Haruhiko Kuroda said the increased QE “shows our unwavering determination to end deflation.” In other words, Japan will print and print and print…

Recklessly expanding a country’s monetary base is disastrous for its currency. And Abe’s efforts have caused a huge decline in the trade value of the Japanese yen. It’s in a clear downtrend.

The yen lost 33% of its value since late 2012, hitting a seven-year low against the dollar. This is an enormous move for a major currency.

And how about the euro, currency of the world’s largest economic bloc, the European Union?

Regular Digest readers know the European economy is struggling. The high-tax welfare states of France, Spain, Portugal, Italy, and Greece are drowning in debt. Their economies are slowing and deflation is taking hold. Unemployment is soaring. And like Japan, this dire outcome follows massive easing from the European Central Bank.

These economies simply can’t compete with Asia and North America. Naturally, the central bankers are responding with more stimulus and currency devaluation.

Just last week, European Central Bank President Mario Draghi announced he would flood the European currency union with more than $1 trillion in newly created money. It’s a desperate attempt from a desperate group of politicians. Instead of asking citizens to make needed changes in government policy – so-called “austerity” like less welfare – the politicians chose currency devaluation. This sent the euro to an 11-year low against the dollar. It has plummeted 19% since April…

Please keep in mind the enormity of this move. A 19% decline is a stupendous move for a major currency. This isn’t a high-flying tech stock. It’s not a speculative gold stock. This is the value of bank accounts. This is the value of debts. This is the currency of the world’s largest economic bloc. And it’s falling apart.

But it’s not just happening in Europe and Japan. Almost every major currency (save the U.S. dollar) is getting destroyed.

The plunge in oil prices has killed the Canadian dollar. And Canada’s central bank, the Bank of Canada, worsened the decline this month when it cut its benchmark interest rate by 0.25 percentage points to 0.75%.

The Australian dollar plunged 17% from its 52-week high on July 1. And investors believe the Reserve Bank of Australia will cut rates to a record low from today’s 2.5%.

Falling oil prices, a war with Ukraine, and economic sanctions from the U.S. have destroyed the Russian ruble.

And in one of the wildest currency moves in history, the Swiss franc soared as much as 39% against the euro in one day following the Swiss National Bank’s removal of its peg to the euro.

Unlike the rest of the currencies we discussed today, the Swiss franc – a longtime safe-haven asset – appreciated. We’re simply noting that the currency of a stodgy, economically sound country like Switzerland should never experience such volatility.

Something is wrong in the currency markets today…

Despite the madness, we are seeing one bright spot: Gold.

Expansion of the global money supply is generally bullish for the precious metal. Still, the price has slumped. But, as we discussed in the January 20 Digest and the January 21 Digest, gold is forming a bottom.

As you can see from the chart below, gold is breaking out…

Steve Sjuggerud, Matt Badiali, and Jeff Clark are all urging their subscribers to invest in gold right now.

In short, governments can print more money, but they can’t print more gold. And with interest rates across the world at record lows (and in some cases, negative), gold is even more attractive.

Many readers have asked why gold and the U.S. dollar are moving up in lockstep… They believe gold is the “anti-dollar.” But that’s not the case.

Gold is performing well for two main reasons…

First, gold is a currency. In our opinion, it’s the safest currency by a mile because it has no counterparty risk. And again, you can’t print more of it. People are starting to realize this and they’re diversifying into the precious metal.

Second, gold benefits from the “fear trade.” When people get scared of what’s happening in the markets, they want the security of owning gold.

As you can see from the charts above, the world is losing faith in fiat money… so people are rushing to safe-haven assets like the world’s reserve currency (the dollar) and gold.

We’ve been warning about this event for years. We knew global central banks couldn’t continue to boost their economies via quantitative easing forever. Eventually, those debts come due… Eventually, the world loses faith in manipulated fiat currencies.

But what happens then?

As Porter said last week on an episode of Stansberry Radio, “We are in the early stages of the complete collapse of global capitalism.” He thinks stocks could fall by 50% or more.

Regardless of when the market correction comes, you have an incredible opportunity to buy gold today.

The metal is trading for less than $1,300 an ounce, down from its 2011 high of $1,900. We think it could easily hit $2,000 an ounce this year. Jim Rickards, who wrote the book Currency Wars and is an expert on this topic, believes gold will hit $7,000 an ounce one day.

And that’s based on the actions already taken by central banks.

But we’ll undoubtedly see many more shocks to the system in coming years…

For example, it’s possible the euro will disband.

The anti-austerity party Syriza just won the elections in Greece. The party, led by Alexis Tsipras, rallied support by saying Greece would not repay the hundreds of billions of dollars it owes to the “troika” – the Eurpean Central Bank, International Monetary Fund, and European Union (EU).

Upon election, Tsipras softened his language, saying he plans to write Greece’s debt down while abandoning the budget constraints that were part of Greece’s bailout. He also said Greece will stay in the European currency union.

Given politicians’ long history of false statements, we’re not putting much weight in Tsipras’ claims.

Even if Greece does stay in the euro bloc, we’ll see shocks to the system throughout these negotiations. And we’ll likely see more and more Europeans join the “anti-austerity” mindset – with more fringe parties winning elections in the EU.

And the global race to zero is still on… Central banks will continue doing what they’ve always done – printing money. But the consequences are only getting more severe.

So… what actions should you take?

Porter advises everyone to have at least 10% of your net worth in physical gold before you put a penny in the stock market.

If you still need to purchase physical gold, we recommend using two dealers: Van Simmons at David Hall Rare Coins and Rich Checkan at Asset Strategies International.

As we always remind readers, we receive no compensation for recommending their services. You can reach Van at 1-800-759-7575 or by e-mail at van@davidhall.com , and you can reach Rich at 1-800-831-0007 or by e-mail at contactus@assetstrategies.com .

Following that, you should definitely own gold stocks. And when it comes to gold stocks, one man’s track record has outperformed the rest… His name is John Doody.

John’s proprietary method for investing in gold stocks has returned 636% since 2001 – double the gains of bullion.

And right now, John is imploring his subscribers to purchase gold stocks. (He also put his money where his mouth is and personally invested a fortune in the sector.)

But outside of a small group of investors, not many people know about John’s investment strategies.

That’s why a self-proclaimed “financial survivalist” recently published the details online…

Giant profit opportunities don’t come around often in gold stocks. And when they do, it’s important you take advantage… because these stocks soar when the trend moves up.

You can get all the details right here.

 

 

For once here’s Some Honesty Courtesy Of The US Congress – Frightening

111315cashmoneycongress

It doesn’t’ take a rocket scientists to figure out what a bankrupt government will do—just like any thief, they’ll go after easy targets first

Simon Black | Sovereign Man blog | February 1, 2015

A member of my staff caught an obscure resolution that was introduced in the US House of Representatives last week—Resolution no. 41.

The fact that there was essentially no coverage of this Resolution really shows how the mainstream media is completely turning a blind eye to the true fiscal situation of the United States of America.

The entire point of the resolution is to say that the federal government is broke.

It can’t pay its own bills, and therefore is shouldn’t be responsible to pay anyone else’s either.

It doesn’t’ take a rocket scientists to figure out what a bankrupt government will do—just like any thief, they’ll go after easy targets first.

The easiest target of all is future generations.

They’re going to run up the debt as high as they can, which essentially means pulling future tax revenues into today. It’s the easiest tax of all, because unborn children do not vote.

The estate tax is another one to watch out for—because, like unborn children, dead people don’t vote either.

 

We had a great podcast yesterday about retirement savings, where there’s an easy $5 trillion treasure chest for them to raid.

And, of course, there’s the greatest tax of all, the inflation tax, which decreases the standard of living for most of the population as the cost of living rises much faster than incomes.

This Resolution is a pretty scary dose of honesty. But again, what’s even more concerning is that it was just ignored and has objectively a zero percent chance of passing.

I do encourage you to check it out though—even the government is admitting it’s finished.

I’ll quote from the Resolution now without comment and wish you a very pleasant weekend:

Whereas the Federal Government is operating at an annual deficit and is increasing its outstanding debt every year;

Whereas the Federal Government, as of January 2015, is carrying more than $18.0 trillion in debt, of which $13.0 trillion is owed to the public and $5.08 trillion is owed to Social Security and other trust funds;

Whereas foreign governments, individuals, and corporations as of October 2014 own 47 percent of Federal debt held by the public;

Whereas Social Security’s unfunded liabilities in 2014 are $10.6 trillion over 75 years and $24.9 trillion over the infinite horizon;

Whereas the Federal debt held by the public is expected to increase by more than $7 trillion from 2014 to 2024 according to the Congressional Budget Office;

Whereas more than 16 percent of the entire Federal budget goes directly to States and local governments;

Whereas more than 22 percent of total State and local government general revenue comes from the Federal Government according to Census Bureau’s latest Annual Survey of State and Local Government Finance;

Whereas several State and local pension plans are expected to fully exhaust their funds within ten years.

*  *  *

Our goal is simple: To help you achieve personal liberty and financial prosperity no matter what happens.

 

Source

 

Delusional America

091714americanflag

In effect, America is now both deaf and blind…

Paul Craig Roberts | February 1, 2015

Robert Parry is one of my favorite columnists. He is truthful, has a sense of justice, and delivers a firm punch. He used to be a “mainstream journalist,” like me, but we were too truthful for them. They kicked us out.

I can’t say Parry has always been one of my favorite journalists. During the 1980s he spent a lot of time on Reagan’s case. Having been on corporate boards, I know that CEOs seldom know everything that is going on in the company. There are just too many people and too many programs representing too many agendas. For presidents of countries with governments as large as the US government, there is far more going on than a president has time to learn about even if he could get accurate information.

In my day Assistant Secretaries and chiefs of staff were the most important people, because they controlled the flow of information. Presidents have to focus on fund raising for their reelection and for their party. More time and energy is used up with formalities and meetings with dignitaries and media events. At the most there are two or three issues on which a president can attempt leadership. If an organized clique such as the neoconservatives get into varied positions of authority, they can actually “create the reality” and take the government away from the president.

As I have reported on many occasions, my experience with Reagan left me with the conclusion that he was interested in two big issues. He wanted to stop the stagflation for which only the supply-side economists had a solution, and he wanted to end, not win, the cold war.

Both of these agendas put Reagan at odds with two of the most powerful of the private interest groups: Wall Street and the military/security complex.

Wall Street for the most part opposed Reagan’s economic program. They opposed it because they understood it as Keynesian deficit pump-priming that would cause an already high inflation rate to explode, which would drive down bond and stock prices.

The CIA and the military opposed any ending of the Cold War because of the obvious impact on their power and budget.

 

Left-wing journalists never picked up on this, and neither did right-wing journalists.

The left could not get beyond Reagan’s rhetoric. For the left, Reagan was trickle-down economics, Iran/Contra, and the fired air traffic controllers.

The right-wing liked Reagan’s rhetoric and blamed him for not delivering on it.

For the left, the Reagan years were a traumatic time. Robert Parry has never recovered from them. He can scarcely write a column about events today, which are horrific in comparison, without dragging Reagan into it. Parry doesn’t realize it, but if it is all Reagan’s fault, little wonder it has been impossible to hold Clinton, Bush 1 and 2, and Obama accountable.

Having written these lines, I already detect the denunciations coming my way for again attempting to “rehabilitate Ronald Ray-Gun.” Reagan does not need rehabilitating. This column is not about Reagan, and it is not a criticism of Parry. It is praise for Parry’s column, “‘Group-thinking’ the World into a New War.” https://consortiumnews.com/2015/01/30/group-thinking-the-world-into-a-new-war/ Read it.

The pattern since Milosevic (and before) has been to demonize a foreign head of state and to take the US to war to get rid of him. That way the secret agenda is achieved under the cover of the necessity of deposing a bad or dangerous ruler.

Parry describes this well. Group-Think plays the important role of preventing any dissent, any suspicion of the case against the demonized person, and any examination of the real agenda that is being pursued.

Now it is Russian President Vladimir Putin who is being demonized. As Parry and I and Stephen F. Cohen, the most knowledgeable of the Russian experts, appreciate, Putin is not Saddam Hussein and Russia is not Iraq, Libya, Syria, Serbia, or Iran. To foment conflict with Russia that could lead to war is worse than irresponsible. Yet, as Parry writes, “from the start of the Ukraine crisis in fall 2013, the New York Times, the Washington Post and virtually every mainstream U.S. news outlet have behaved as dishonestly as they did during the run-up to war with Iraq.”

When Professor Cohen pointed out, correctly, that the lies about Russia, Ukraine, and Putin were hot and heavy, the propagandists had to get rid of the man with the facts. The New Republic, a hang-out for low IQ fools, called America’s leading Russian expert “Putin’s American toady.”

From Parry’s reporting, it appears that Group-Think has spread from the media and foreign policy community into the Association for Slavic, East European and Eurasian Studies, which has decided that academic careers require adherence to the government’s propaganda line, which means the neoconservatives’ line.

As I have written on a number of occasions, facts no longer play a role in American political life. Fact-based analysis is also disappearing from academic life and no longer plays a role in official economic reporting. A matrix has been created, an artificial reality that channels the energies and resources of the country into secret agendas that serve the interests of the ruling private interest groups and neoconservative ideology.

The United States government and the American people cannot contend with reality, because they do not know what the reality is.

In America’s make-believe world, neoconservative toadies such as New York Times columnist Thomas Friedman, set the Group-Think tone, while knowledgeable experts such as Stephen Cohen are tuned out.

In effect, America is both blind and deaf. It lives in delusions. Consequently, it will destroy itself and perhaps the world.

Paul Craig Roberts was Assistant Secretary of the Treasury for Economic Policy and associate editor of the Wall Street Journal. He was columnist for Business Week, Scripps Howard News Service, and Creators Syndicate. He has had many university appointments. His internet columns have attracted a worldwide following. His latest book, The Failure of Laissez Faire Capitalism and Economic Dissolution of the West is now available.

 

 

Cops Taser Family Man Again and Again, Up to 27 Times Until He Went Limp and Died

032014taser

A left-behind family of a man killed by cops has filed a wrongful death lawsuit against San Bernardino County for excessive force

Filming Cops | February 1, 2015

VICTORVILLE — A left-behind family of a man killed by cops has filed a wrongful death lawsuit against San Bernardino County for excessive force.

Dante Parker was electrocuted as many as 27 times as cops shot him repeatedly with a Taser gun, according to the lawsuit.

Dante’s five children and his wife were devastated when he died after the electrical shock.

The incident occurred when Dante dropped his children off at school.

After he left them in school, he went on a bike ride around 4 PM.

He was riding his bike down Luna Rd when he was stopped by Officer Irwin.

Officer Irwin claimed to be responding to a report about a suspicious black male who was attempting to break into houses.

It is presumed that at some point during the questioning, an argument ensued, though the lawsuit does not specify.

At one point during the interaction, Officer Irwin began shooting Dante with a Taser gun, electrocuting his body and causing his muscles to involuntarily tighten and contract.

Other cops quickly arrived at the scene and began Tasing Dante even more, at least 25 times until his body became limp and he fell to the ground.

The cops then hogtied Dante’s limp body as he begged and said “I can’t breathe.”

They then lifted him up while he was hogtied and pushed him into the back seat of a police car, face down.

The inside of the police car was scorching hot as the weather outside reached almost 100 degrees.

Shortly thereafter, Dante’s heart stopped and he was pronounced dead.

The Sheriff Department’s defense is that Dante was “combative” with the officer, causing the officer to “fear for life.”

But Dante’s family believes the police murdered their father.

The family is suing for an unspecified amount in damages.

 

Capture2 feb

(click on Image to view)

Source

Critics Push Back After Broadcasting Board of Governors Characterizes Alternative Media as Terror

bbg

BBG associated with CIA white propaganda efforts

Kurt Nimmo | Infowars.com | January 30, 2015

Bolivian President Evo Moarles weighed in on the controversy over remarks made earlier this month by Andrew Lack, the new chief executive of the Broadcasting Board of Governors (BBG).

The BBG is noteworthy for its connection to the CIA’s effort to control media and dispense white propaganda. The United States government agency controls the Voice of America, Radio Free Europe/Radio Liberty, Radio Marti and TV Marti. CIA control of these organizations is well documented.

BBG is also associated with the United States Information Agency and the National Endowment for Democracy. “A lot of what we do today was done covertly 25 years ago by the CIA,” Allen Weinstein, who helped draft the legislation establishing NED, said in 1991.

 

“When the media turns into the voice of the people, especially in the voice of revolutionaries, there are those people and the media, who will judge them and falsify the truth,” Morales told RT, the Russian state-funded cable and satellite television channel. “This media is the voice of the developing countries, the voice of the peoples of the world, and it deserves our admiration.”

During an interview with The New York Times, Lack said it is the job of the BBG to confront news organizations not under the control of the U.S. government.

“We are facing a number of challenges from entities like Russia Today which is out there pushing a point of view, the Islamic State in the Middle East and groups like Boko Haram, “ said Lack, the former president of NBC News. “But I firmly believe that this agency has a role to play in facing those challenges.”

Lack’s comments were so transparently over the top, even the State Department felt obliged to distance itself from them:

Former Minnesota Governor Jesse Ventura told RT Lack and the BBG are calling alternative media to be censored.

“There should be no Big Brother telling us what we can or cannot see,” Ventura said. “If someone desires to watch RT TV and takes the opinion they don’t like, well then they merely don’t have to put it to that station.”

 

Michael Krieger, the editor of Liberty Blitzkrieg, points out that RT is popular in the United States and thus a challenge because Americans are fed up with news coverage offered by the corporate media.

“RT’s success was not because the Russian state poured so much time and money into the network,” Krieger writes. “It’s success was a direct result of the U.S. mainstream media being so childish and useless. By spewing a mind-numbing amount of inane celebrity gossip, sports drama and cartoonish American propaganda, a massive audience yearning for a different perspective was already present and underserved. RT merely came along and filled that void.”

Source

 

Birth Pangs Of The Coming Great Depression

050914burningmoney

 

The signs of the times are everywhere – all you have to do is open up your eyes and look at them

Michael Snyder | Economic Collapse | January 30, 2015

The signs of the times are everywhere – all you have to do is open up your eyes and look at them.  When a pregnant woman first goes into labor, the birth pangs are usually fairly moderate and are not that close together.  But as the time for delivery approaches, they become much more frequent and much more intense.

Economically, what we are experiencing right now are birth pangs of the coming Great Depression.  As we get closer to the crisis that is looming on the horizon, they will become even more powerful.  This week, we learned that the Baltic Dry Index has fallen to the lowest level that we have seen in 29 years.  The Baltic Dry Index also crashed during the financial collapse of 2008, but right now it is already lower than it was at any point during the last financial crisis.  In addition, “Dr. Copper” and other industrial commodities continue to plunge.  This almost always happens before we enter an economic downturn.  Meanwhile, as I mentioned the other day, orders for durable goods are declining.  This is also a traditional indicator that a recession is approaching.  The warning signs are there – we just have to be open to what they are telling us.

And of course there are so many more parallels between past economic downturns and what is happening right now.

For example, volatility has returned to the markets in a big way.  On Tuesday the Dow was down about 300 points, on Wednesday it was down another couple hundred points, and then on Thursday it was up a couple hundred points.

This is precisely how markets behave just before they crash.  When markets are calm, they tend to go up.  When markets get really choppy and start behaving erratically, that tells us that a big move down is usually coming.

At the same time, almost every major global currency is imploding.  For much more on this, see the amazing charts in this article.

In particular, I am greatly concerned about the collapse of the euro.  The Swiss would not have decoupled their currency from the euro if it was healthy.  And political events in Greece are certainly not going to help things either.  Economic conditions across Europe just continue to get worse, and the future of the eurozone itself is very much in doubt at this point.  And if the eurozone does break up, a European economic depression is almost virtually assured – at least in the short term.

 

And I haven’t even mentioned the oil crash yet.

There is only one other time in all of history when the price of oil collapsed by more than 60 dollars, and that was just prior to the horrific financial crisis of 2008.

Since the last financial crisis, the oil industry has been a huge source for job growth in this country.  The following is an excerpt from a recent CNN article

The oil sector has added over a half million jobs — many of them high paying — since the recession ended in June 2009. That’s 13% of all US job growth over that period.

Now energy companies and related sectors are laying off thousands. Expect that trend to continue, bears say.

But losing good jobs is just the tip of the iceberg of this oil crisis.

At this point, the price of oil has already dropped to a catastrophically low level.  The longer it stays at this level, the more damage that it is going to do.  If the price of oil stays at this level for all of 2015, we are going to have a complete and total financial nightmare on our hands

For the first time in 18 years, oil exporters are pulling liquidity out of world markets rather than putting money in. The world is now fast approaching a world reserve currency shift. If we see 8 to 12 months at these oil prices; U.S. shale industry will be wiped out. The effect on junk bonds will cascade to the rest of the stock market and U.S. economy.

…and this time there will be nothing left to catch the falling knife before it hits the American economy right in the heart. Not the FED nor the U.S. government can stop what’s coming. Liquidity will freeze up, our credit will be downgraded, the stock market will start to collapse, and then we can expect the FED to come in and hyper-inflate the dollar. This will cause the world to finish abandoning the world reserve currency in the last rungs of trade. This will be the end of the petrodollar.

Something that I have not discussed so far this year is the looming crisis in emerging market debt.

 

This is a really big deal.  As a Business Insider article recently detailed, we could be talking about hundreds of billions of dollars…

Russia this week became the first of the major economies to lose its investment grade status from Standard & Poor’s, falling out off the top ratings category for credits deemed to have a low risk of default for the first time in a decade.

If Moody’s and Fitch follow, conservative investors barred from owning junk securities must sell their holdings. JPMorgan estimates this means they may ditch $6 billion in Russian government rouble and dollar debt.

Russia may have company. Almost $260 billion worth of sovereign and corporate bonds – nearly a tenth of outstanding emerging market (EM) debt – is in danger of being relegated to junk, according to David Spegel, head of emerging debt at BNP Paribas, who calls such credits “falling angels”.

And no article of this nature would be complete without mentioning derivatives.

I could not possibly overemphasize the danger that the 700 trillion dollar derivatives bubble poses to the global financial system.

As we enter the coming Great Depression, derivatives are going to play a starring role.  Wall Street has been pumped full of funny money by global central banks, and our financial markets have been transformed into the greatest casino in the history of the world.  When this house of cards comes crashing down, and it will, it is going to be a financial disaster unlike anything that the planet has ever seen.

And yes, global central banks are very much responsible for setting the stage for what we are about to experience.

 

I really like the way that David Stockman put it the other day…

The global financial system is literally booby-trapped with accidents waiting to happen owing to six consecutive years of massive money printing by nearly every central bank in the world.

Over that span, the collective balance sheet of the major central banks has soared by nearly $11 trillion, meaning that honest price discovery has been virtually destroyed. This massive “bid” for existing financial assets based on credit confected from thin air drove long-term bond yields to rock bottom levels not seen in 600 years since the Black Plague; and pinned money market costs at zero—-for 73 months running.

What is the consequence of this drastic financial repression along the entire yield curve? The answer is bond prices which keep rising regardless of credit risk, inflation or taxes; and rampant carry trade speculation that can’t get out of its own way because  central banks have made the financial gamblers’ cost of goods—the “funding” cost of their trades—-essentially zero.

Of course I am not the only one warning that a new Great Depression is coming.  For instance, just consider what British hedge fund manager Crispin Odey is saying…

British hedge fund manager Crispin Odey thinks we’ve entered an economic downturn that is “likely to be remembered in a hundred years,” and central banks won’t be able to stop it.

In his Odey Asset Management investor letter dated Dec. 31, Odey writes that the shorting opportunity “looks as great as it was in 07/09.”

“My point is that we used all our monetary firepower to avoid the first downturn in 2007-09,” he writes, “so we are really at a dangerous point to try to counter the effects of a slowing China, falling commodities and EM incomes, and the ultimate First World Effects. This is the heart of the message. If economic activity far from picks up, but falters, then there will be a painful round of debt default.”

Even though most average citizens are completely oblivious to what is happening, many among the elite are heeding the warning signs and are feverishly getting prepared.  As Robert Johnson told a stunned audience at the World Economic Forum the other day, they are “buying airstrips and farms in places like New Zealand“.  They can see the horrifying storm forming on the horizon and they are preparing to get out while the getting is good.

It can be very frustrating to write about economics, because things in the financial world can take an extended period of time to play out.  Sadly, most people these days have extremely short attention spans.  We live in a world of iPhones, iPads, YouTube videos, Facebook updates and 48 hour news cycles.  People no longer are accustomed to thinking in long-term time frames, and if something does not happen right away we tend to get bored with it.

But the economic world is not like a game of “Angry Birds”.  Rather, it is very much like a game of chess.

And unfortunately for us, checkmate is right around the corner.

Source

 

Judicial Watch Obtains ‘Smoking Gun’ Benghazi Documents

5clintonbenghazi

State Dept., Clinton (and possible runner for the Next Presidential Elections…) is found to be involved in massive cover-up…

Jerome Corsi | WND | January 27, 2015

Documents obtained Monday through a federal court order show State Department officials disseminated the false story that the 2012 Benghazi attack that killed a U.S. ambassador was nothing more than the violent escalation of a demonstration by Muslims against an insulting video, even though they knew it was a coordinated military-style assault.

Among the documents obtained by the Washington-based government watchdog Judicial Watch was a memo sent the day after the Sept. 11, 2012, attack to the U.S. Embassy in Tunis, Tunisia, by the State Department’s Diplomatic Security Command Center titled “Emergency Message to U.S. Citizens: Demonstrations.”

The Diplomatic Security Command Center, or DSCC, was well aware that the attack was carried out by highly organized and armed Islamic militia, because the DSCC was the unit that monitored the attack in real time via video transmissions from a drone.

The message is identical to the emergency message issued by the U.S. Embassy in Tunis and archived on the embassy’s website.

The emergency message reads in the first paragraph: “On September 11, 2012, violent demonstrations took place at the U.S. Embassy in Cairo, Egypt and at the U.S. compound in Benghazi, Libya, resulting in damage in both locations and casualties in Benghazi. Media reports indicate that demonstrations may take place at the U.S. Embassy in Tunis on Wednesday, September 12, 2012.”

Read more

Also… Watch An InfoWars Report filed on YouTube here…

France Announces Plans To Hold The Internet Responsible For Terrorism – be ready to loose OUR FREEDOM

internet

Purely hamfisted attempt to label innocent service providers as “accomplices”

Timothy Geigner | Techdirt | January 27, 2015

And on it goes. In the wake of the Charlie Hebdo attacks, much of the world rallied around a French magazine’s free speech right to publish controversial text and images concerning Islam, a major world religion. Since that solidarity was expressed, France has strategically sought to undermine its own support of free expression through some of the most arcane law enforcement actions concerning speech to date. From arresting comedians, to threats against news organizations, all the way to stepping into the muck with a bunch of racist idiots, France has shown that it’s not a country that defends free and open speech — but rather one that only defends the speech with which it agrees. But if any of that troubled you, you may be disappointed to learn that it was only the precursor to a full on attack on free speech on the internet.

President Francois Hollande said Tuesday in Paris the government will present a draft law next month that makes Internet operators “accomplices” of hate-speech offenses if they host extremist messages. Interior Minister Bernard Cazeneuve said he will travel to the U.S. to seek help from the heads of Twitter Inc. (TWTR) and Microsoft Corp. (MSFT) as well as Google and Facebook. Spokesmen for the companies did not immediately return requests for comment.

It’s exactly the wrong move on France’s part. What was once a rallying moment for Western values and open speech has now devolved into a full-on attempt to censor speech online. If this law passes, internet services will have no choice but to seek to proactively censor all sorts of speech just to avoid liability. It’s the exact opposite of the systems and policies that made the internet such a welcome home to free expression.

It would be one thing if any part of this plan made even the least bit of sense, which it doesn’t, but where this gets really stupid is in the strategic impact this would have were it to be put in place. Extremists that have since gathered online will now be pushed back into places where they cannot be so easily monitored. What was essentially a honeypot of sorts will be neutered. How does that make even the smallest amount of sense, even throwing aside the horrific implications this has on France’s willingness to censor speech it does not care for?

Add to that the purely hamfisted attempt to label innocent service providers as “accomplices” under the shade of a recent terror attack, and you might think this couldn’t get any more cynical. You’d be wrong.

Hollande, speaking at a Paris memorial for Jews deported during World War II, said he would discuss a crackdown on racist and extremist Internet posts with global leaders at a ceremony at Auschwitz, Poland, on Tuesday as they meet to commemorate the death camp’s liberation 70 years ago. At last week’s World Economic Forum in Davos, Switzerland, Hollande called on Internet companies to help identify and shut down illegal content. France has laws against making racist statements or denying the Holocaust.

Source

How Capitalism Dies

out of business

Can you think of a single thing a politician or central banker has contributed to the welfare of the world?

Bill Bonner | Zero Hedge | January 27, 2015

Two Comedy Acts

Today, we’re going to tell you why America’s middle class is getting poorer. Or put another way, we’re going to show you how capitalism dies.

Two comedy acts appeared last week: President Obama’s State of the Union address and Mario Draghi’s QE announcement.

Mr. Obama claimed credit for a “recovery” that has left the typical American poorer than he was before. And not only is he poorer, but also he is more dependent on the very people who engineered the phony recovery. (See below.)

Mr. Draghi followed up with a series of one-liners, the gist of which was that he now proposes to save Europe from the specter of inadequate inflation.

ECB to the Rescue

Who could take Draghi seriously? After all, what’s wrong with stable prices? Nothing at all! The 19th century had fairly stable prices… as well as the fastest GDP and wage growth in human history. Serious consumer price inflation didn’t begin in the US until the 1970s, when America’s new flexible, adaptable, expandable, super-duper fiat money came into service.

Since then, the cost of living in the US is up roughly 600%. And the rate of economic growth has fallen. Mr. Draghi did not mention these facts when he announced his euro-debasement program. But it hardly mattered. The real purpose of euro-zone QE is the same as the real purpose of the US version – to prevent the cronies from getting what they deserve.

 

They own hundreds of billions of euro worth of European sovereign bonds – now trading at the highest prices and lowest yields in recorded history. Many were bought with negative yields. And now, with aging populations, rising debt levels, gummed-up regulations, rising living costs, rising taxes and falling revenues, there is almost no way these bonds can be worth what speculators paid for them.

How are the insiders going to get their money back? The ECB to the rescue! It promises to transfer $1.3 trillion to the financial elite over the next 21 months – buying sovereign bonds and other slippery obligations at the rate of €60 billion ($67 billion) every month. Not that we are complaining; we’ve got a sense of humor!

Besides, we’re card-carrying members of the 1%… and happy to get a share of the loot. If only we had bought those Italian sovereign bonds! So, there you have it…

In the New World, the commander-in-chief claims credit for something he didn’t do. In the Old World, the central-banker-in-chief claims to be doing something not worth doing. Neither is doing what he should do.

 

Germany-2-yr_-yield

Germany’s 2 year note now sport a yield to maturity of minus 0.143%. All over the developed world, more than $ 4 trillion in sovereign debt are now trading at negative yields. This is no longer just return-free risk, it is at the next stage where you have to pay for the risk to lend money to governments that in a sober assessment cannot be called anything but effectively insolvent.

America’s Disappearing Wealth Creators

We chuckle … and move on. We were supposed to tell you about how it was possible for the average American to get poorer at a time that should have been the most productive and prosperous ever. We won’t disappoint you.

Who makes people better off? President Obama? Mario Draghi? Can you think of a single thing a politician or central banker has contributed to the welfare of the world? We can’t.

Did they invent hamburgers? Did they pave roads? Did they produce wheat or lay bricks? We’re exaggerating to make our point. They are, no doubt, amusing at dinner parties. And they pet their dogs.

But sticking to the material world, the world of getting and spending, has a president or central banker ever put in a decent day’s work or added a single centime or farthing to the nation’s GDP? Not that we know of. Then who has?

If we had to put a title on this little discussion, we might call it: “America’s Disappearing Wealth Creators.” Or if we wanted to be more lurid: “How the Zombies Ate America’s Entrepreneurs.”

More information…. Source

 

 

Top Communist Admits: Communist Party ‘Utilizes’ the Democratic Party – a Lesson for Constitutionalists

cpusa

Communist Party to stick with the Democrats until a viable third party is feasible

Trevor Loudon | January 27, 2015

New national chair of the Communist Party USA, Chicago man John Bachtell, has admitted that his Party “utilizes” the Democratic Party “to advance its agenda.”

Writing on the People’s World website, Bachtell explains that much of the left wants to abandon the Democratic Party (as much of the “right” wants to abandon the GOP) to form a radical third party.

In an article entitled A radical third party? I agree! Bachtell explains:

Certainly, there’s widespread disillusionment with both the Democratic and Republican parties. That’s reflected in the latest Pew Research poll: 38 percent of voters describe themselves as independent, 32 percent as Democrats, and 25 percent as Republicans. In 1991, the three were approximately equal.

While acknowledging that both major parties are heavily influenced by Wall Street, Bachtell sees a big difference:

However, it’s not enough to make sweeping generalizations about the Democratic and Republican parties. It’s true both parties are dominated by Wall Street interests, but it’s also necessary to see how each party differs, particularly their social bases and how this affects their policies.

While the Republican Party is led by the most reactionary sections of Wall Street capital including the energy extractive sector and military industrial complex, it also consists of extreme right-wing elements including the Tea Party, white supremacists, social conservatives, right-wing evangelicals, climate deniers, anti-reproductive rights groups, etc.

Meanwhile the Democratic Party is also home to labor, African Americans, Latinos, other communities of color, women, most union members, young people, and a wide range of social and democratic movements. These constituencies exert influence on party leadership and hold positions at all levels.

Therefore, it makes sense, according  to Bachtell, for the Communist Party to stick with the Democrats until a viable third party is feasible. To Bachtell, progress towards socialism is possible only after the “right” is soundly defeated.

The Communist Party’s tactics for political independence rest on several interrelated elements. First, they occur within the constraints of the two-party system. We don’t operate in a parliamentary system which allows proportional voting. Instead, winner takes all, and during the general election it usually comes down to voting for one of two candidates most likely to win.

That means candidates are backed by coalitions. Under these circumstances voting based on purity of positions is not a viable tactic. Coalition forces may disagree with a candidate on one or another issue, but find they must support candidates for strategic reasons – to advance issues and create a more favorable terrain of struggle.

Our tactics also occur within the framework of our strategic policy of building a broad coalition to defeat the extreme right, which we see as the main danger to democracy and social progress, embodied within today’s Republican Party. There are voting constituencies that presently support the GOP that have to be won over. Such an approach sees the need to actively challenge right-wing and GOP ideas that influence sections of the people, especially working-class whites, for example,through hate talk radio. This includes racism and intolerance which are key issues dividing the working class.

We see this as one of the stages in the long struggle for advanced democracy and socialism. Without decisively defeating the most reactionary sections of monopoly capital, disintegrating Republican Party support at every level, it’s hard to see winning more radical and advanced programs and policies and waging a fight against the monopoly class as a whole.

We envision a prolonged process toward political independence, with many turns, advances and defeats, utilizing many forms, resulting in a radical third party based in labor, working-class neighborhoods, communities of color, and democratic movements. Such a coalition third party must extend its reach beyond urban areas, to suburbs, exurbs, rural areas, and in “red” states and congressional districts.

 

Until that glorious day arrives, the Communist Party will continue to “utilize” the Democrats:

First, we are part of building the broadest anti-ultra right alliance possible, uniting the widest array of class (including a section of monopoly), social and democratic forces. This necessarily means working with the Democratic Party. This differentiates us from those left groups who underestimate the right danger and overestimate the readiness of key class and social forces to bolt the Democratic Party.

Second, our objective is not to build the Democratic Party. At this stage we are about building the broad people’s movement led by labor that utilizes the vehicle of the Democratic Party to advance its agenda. We are about building the movements around the issues roiling wide sections of people that can help shape election contours and debates.

 

The Communist Party often upsets less mature Marxist groups because of their refusal to abandon the Democratic Party, despite not always getting every item on their agenda immediately.

As an experienced Communist, John Bachtell understands that in spite of difficulties and disappointments, the Communist Party agenda is far better served by infiltrating the Democrats than by marching in the streets yelling revolutionary slogans.

The Communist Party and their only marginally less radical Democratic Socialists of America allies can point to real achievements under their “friend” Barack Obama. Obamacare, illegal immigrant “amnesty,” the NEW START Treaty with Russia, negotiations with Iran, military budget cuts and recognition of communist Cuba, are all Communist Party policies, implemented through the Democratic Party.

Bachtell understands that to prematurely break with with the Democrats, on some Quixotic adventure of forming a new leftist third party, would almost certainly hand the next few elections to the GOP. He fears that a revitalized GOP, led by Ted Cruz, or some similar figure, would roll back most, or all of the Communist Party’s hard fought gains.

If US Constitutionalist conservatives and Tea Party activists can show similar political discipline and maturity, they will abandon plans for a suicidal third party agenda – for now. Instead they will work through the GOP, as the Communists have through the Democrats. Learn from the opposition. Utilize the GOP machinery and voting base to build a big Constitutionalist base inside the GOP.  Build your strength, do as the Communists have done, primary any vulnerable GOP candidates who will not support your Constitutionalist agenda.

The Communists did that to Senator Joe Lieberman from Connecticut. Now, virtually no senior Democrats will buck the Communist line. They know the price.

So, the Tea Party and their allies need to take back the GOP for Constitutionalism and ensure that someone of the caliber of  Ted Cruz or Scott Walker is the GOP Presidential nominee in 2016.

If that happens, Americans can have a second “Reagan Revolution” even better than the first. If it doesn’t, the Communist Party will have theirs.

If Constitutionalists fail and Jeb Bush, or some similar milksop becomes the GOP nominee, they should gather all their forces,   leave the GOP en masse and run against him as a third party. At that point, Constitutionalists have nothing left to lose. They should also make it very clear to the GOP hierarchy and major donors that a third party will inevitably follow any further “dirty tricks,” or other attempts to frustrate the will of the people.

Less than a thousand hardcore Communist Party activists and their few thousand Democratic Socialists of America allies effectively dictate Democratic Party policy.

If the much larger Constitutionalist/Tea Party movement can learn from their opponent’s tactics and maturity, they can have a real shot at restoring the Republic.

The battle for America is not between the Democrats and the Republicans. It is between the Communists and the Constitutionalists. The Constitutionalists must better understand their opposition and borrow some of their tactics, if they want a chance of victory.

Source

 

Bankster Austerity Measures Under Attack in Wake of Syriza Win in Greece

Ban Money

 

 

 

 

Politicos line up for fight against bankster plan to impoverish millions

Kurt Nimmo | Infowars.com | January 26, 2015

British Prime Minister David Cameron has reacted to the Greek election and the rejection of globalist austerity measures by saying the victory of Syriza in the Greek general election over the weekend will “increase economic uncertainty across Europe.”

On Sunday the leader of radical leftist Syriza party, Alexis Tsipras, promised to end five years of austerity, “humiliation and suffering” imposed by international banksters on the Greek people.

Tsipras is a dedicated communist who gave his youngest son the middle name of Ernesto after Cuban revolutionary Che Guevara.

“Greece leaves behinds catastrophic austerity, it leaves behind fear and authoritarianism, it leaves behind five years of humiliation and anguish,” Tsipras, who was sworn in as prime minister on Monday, told supporters.

The Greek coalition party now has an absolute, 151-seat majority in parliament.

Tsipras and Syriza demand a renegotiation of Greece’s £179 billion bailout and a revisitation of the clauses that make the Greek government’s implementation of devastating austerity measures mandatory.

Additionally, Syriza is calling for cancellation of over 50 percent of Greek debt owed to ECB banksters and Eurozone states.

The victory of Syriza has emboldened the anti-austerity movement in Britain and on the European continent.

In Britain, Labor Party members called the Syriza win “exciting” and demanded Ed Millibrand, the leader of the party, oppose “savage” spending cuts by the British government.

“Nobody should underestimate the anger and the demand for change here,” said leftwing Labor MP John McDonnell. He said the Syriza victory points the way for similar moves in Britain.

The British chancellor, George Osborne, warned the promises made by Syriza to end crippling austerity would be “very difficult to deliver and incompatible with what the eurozone currently demands of its members.”

In December, Osborne detailed an austerity plan for Britain that reduces public spending to levels not seen since the 1930s and the Great Depression. The plan calls for the loss of a million public sector jobs, reduction of public sector wages, an increase in rates levied on property, and an aggressive crackdown on tax avoidance.

Despite the stance of politicos, banksters and EU apparatchiks in Britain and Europe, the Syriza win does not bode well for European central banker schemes.

“Europe is well-aware that any Greek renegotiation means one thing: an impairment of the ECB balance sheet, something which is also a non-starter for the central bank which is already toying dangerously close with losing all credibility as well as big losses for German taxpayers now that the bulk of Greek debt exposure has been mutualized outside of the banking sector,” notes Zero Hedge.

“Whatever happens, expect a substantial increase in volatility in coming weeks as Greek pre-election promises and the harsh European reality finally collide, and lots and lots of red flashing headlines and FX kneejerk responses.”

Source

“Out Of My Face Please” – Why Are US Soldiers In Mariupol?

 

US soldier

The response, which requires no translation, speaks for itself

Zero Hedge | January 26, 2015

Amid the devastation of yesterday’s Mariupol artillery strikes which killed or wounded dozens, which was promptly blamed by both sides on the “adversary” – and has been proclaimed by both ‘sides’ (more on that later) as more violent than before the truce – an ‘odd’ clip has emerged that appears to provide all the ‘proof’ a US intelligence officer would need to surmise that US military boots are on the ground in Ukraine. As the following clip shows, a Ukrainian journalist approaches what she thinks is a Ukrainian soldier (since he is wearing a Ukrainian military uniform and is carrying an AK) and asked him as they run through the battlezone, “tell me, what happened here?” His response, which requires no translation, speaks for itself.

Source

 

Dow Plunges 360 Points, Erases All Post-QE Gains

stock-market-trading

The Nasdaq is today’s biggest loser, down over 2.2%

Zero Hedge | January 27, 2015

The Dow is now down 360 points on the day – its biggest point drop in 19 months. Perhaps more notable is that since the End of QE3, The Dow is now down 0.4% – but the fundamentals we hear you cry…

The Nasdaq is today’s biggest loser, down over 2.2%

20150127_dow11_0

Source

 

Preparation in times of uncertainty