Since my last posting on this subject,not a whole lot has changed. Well, except the fact that this situation is getting worse, as we all knew it would, and the markets are noticing.
The stock markets have fallen in 3 of the last 4 days and most of the MSM is placing the blame on the European Financial crisis. Our corporate earnings are getting hit, with more to come many think, and the prices are diving.
It was just the other day that one of the ‘doomsday’ guys, that have good track records by the way, was saying we have fallen off the financial precipice. I don’t think he is far from wrong.
Common sense indicates that the world wide economy, including our own, has yet to see the worst. That is coming on a daily basis. Please don’t believe these talking heads when they tell you that they are ‘fixing’ the problem. I am not sure they, nor anyone else, know what the problem really is!
When you don’t know the problem, you certainly can’t fix it, even if they could and I for one don’t believe that the efforts (read money they are printing) undertaken will do any good at all.
The entire system is crumbling as I write. Since the Lehman debacle we have seen far too many financial houses succumb tot he economic pressures and of course sheer greed and fraud.
Look at PFG, the future clearing house that went broke and dang few of these people will ever see any money. Given the fragile state of affairs, why would anyone want to put their money in such a clearing house, just to take more risk to make money that, due to the risk of bankruptcy of the futures firm, they might never see again!
Folks, this financial crisis will slowly unravel the fundamentals of our economy. I suggest you get prepared…take a look at where your money is and how easy or difficult it will be to access it in the event of some financial catastrophe. Do you own any gold or silver? How easy is that to get to? I am all for the Boy Scout Motto here “Be Prepared”!
As you can tell from the title of this small piece, I am not a big fan of the U.N. Sure it was conceive, perhaps, with the most noble of thoughts but has transgressed into the embodiment of evil.
It is now a ‘multinational’ agency that answers to no one. They can send troops in, with the approval of members, to what end no one knows. For example, the U.N. had a ‘peacekeeping’ force in Rwanda before the infamous genocide began and Kofi Annan (later became the Secretary General of U.N. until 2006), who was head of the peacekeepers, and the Secretary General Boutros Bourtros Ghali refused to let them prevent the ensuing slaughter. The details of which are truly horrendous.
And speaking of corruption, take a look at the ‘oil for food’ program the U.N. ran for Iraq during the time that they were embargoed by the U.N. nations. The secretary general was paid millions by Saddam to look the other way when sales were made to his cronies. Wow, what a job eh?
The peacekeepers themselves have a sorry reputation. Raping, pillage, corruption and general bad behavior are at the top of the list for what they are known for. Not only this but in the Cote d’Ivoire they massacred hundreds of people that were having a peaceful protest against their presence. Apparently they didn’t like that too much and opened fire on men, women and children. So much for peace keeping.
You can get more of the bigger picture with some detail by watching the movie, U.N. Me. I urge you to watch this horrifying piece and see for yourself what a con job has been foisted on the citizens of this country and the world!
Remember that We The People fund this dastardly operation, at least in part, along with billions more around the world. What a waste of time and money. I am for disbanding this band of outlaws forthwith! How about you?
Authorities just found 6 TRILLION in fake U.S. Treasury bonds in Italy. All I can say is WOW! I also wonder how many more of these are floating around out there…Corruption and Criminals…
Record $6 Trillion of Fake U.S. Bonds Seized
By Elisa Martinuzzi – Feb 17, 2012 5:18 AM MT
Italian anti-mafia prosecutors said they seized a record $6 trillion of allegedly fake U.S. Treasury bonds, an amount that’s almost half of the U.S.’s public debt.
The bonds were found hidden in makeshift compartments of three safety deposit boxes in Zurich, the prosecutors from the southern city of Potenza said in an e-mailed statement. The Italian authorities arrested eight people in connection with the probe, dubbed “Operation Vulcanica,” the prosecutors said.
The U.S. embassy in Rome has examined the securities dated 1934, which had a nominal value of $1 billion apiece, they said in the statement. Officials for the embassy didn’t have an immediate comment.
The financial fraud uncovered by the Italian prosecutors in Potenza includes two checks issued through HSBC Holdings Plc (HSBA) in London for 205,000 pounds ($325,000), checks that weren’t backed by available funds, the prosecutors said. As part of the probe, fake bonds for $2 billion were also seized in Rome. The individuals involved were planning to buy plutonium from Nigerian sources, according to phone conversations monitored by the police.
The fraud posed “severe threats” to international financial stability, the prosecutors said in the statement.
HSBC spokesman Patrick Humphris in London declined to comment when contacted by telephone.
Phony U.S. securities have been seized in Italy before and there were at least three cases in 2009. Italian police seized phony U.S. Treasury bonds with a face value of $116 billion in August of 2009 and $134 billion of similar securities in June of that year.
The U.S. Secret Service averages about 100 cases a year related to bonds and other fictitious instruments.
To contact the reporter on this story: Elisa Martinuzzi in Milan at firstname.lastname@example.org
To contact the editor responsible for this story: email@example.com
Be sure to check and recheck your treasuries if you have taken delivery…I would also suggest not buying them on ebay…hehe
Thanks to the Supreme Court decision allowing unlimited amounts of money for political campaigns, the Super Pac and another from of corruption was born. I can’t tell you how embarrassed and ashamed I am of this particular development in our development as a nation.
The proof is as they say in the pudding. Have you seen these hit pieces on TV? While there maybe some kernel of truth in each one the way in which they are used is just embarrasing. Why can’t politicians and the people rely on factual information and not just sound bytes, especially those funded by a small group of people that have highly specific special interests!
Do you really think that these special interest groups that form a Super Pac aren’t expecting some sort of remuneration, perhaps not in cash but the currency of the realm…POWER and the ability to make more cash?
The next time you see a Super Pac sponsored commmercial ask yourself, what does this group of people expect to gain by the election of the individual that they support?
That these hit pieces have some influence is equally emabarrasing as they reflect upon the intelligence of those thuss influenced. If they weren’t working they would stop this travesty!
All parties are to blame, especially the Supreme Court of our country! When will we come to our senses?
Have you lost confidence in congress? Are you wondering if the democratic process simply continues to place mostly corrupt or at least corruptible individuals into office. Well I have to say that, unfortunately, you are mostly correct in that respect. In order to illustrate the point take a few minutes to view this video about just what goes on in Washington.
I presume that you would agree that change is in desperate need in our nation’s capital.
Insider trading. Why the rules for congress and the senate allow them to do things that would end us up in jail.
The playing field is not level for you and I when it comes to insiders trading. Members of Congress do it all the time and it is LEGAL! You and I would be investigated, spend tens of thousands if not hundreds on lawyers, go to jail and pay hefty fines. I suppose it is yet another part of the ‘retirement’ plan for Congressional members! The video below points out just how unfair the game is when it comes to the markets and trading!
I don’t know if you will find the below article as disturbing as I but regardless the truth continues to come out and I suspect we will be seeing more on this cover up.
That these guys to not distribute information, real and truthful, to their citizens to avoid widespread panic is just absurd! I am sure there are and will continue to be needless deaths as a result of overexposure to radiation in the days, months and years to come due to their callous disregard for the people.
I am wondering when this breaking truth about how our government behaved and continues to behave about Fukushima and what that will eventually lead to for the people here in the U.S.
Japan kept silent on worst nuclear crisis scenario
By MARI YAMAGUCHI and YURI KAGEYAMA | Associated Press – Wed, Jan 25, 201
TOKYO (AP) — The Japanese government’s worst-case scenario at the height of the nuclear crisis last year warned that tens of millions of people, including Tokyo residents, might need to leave their homes, according to a report obtained by The Associated Press. But fearing widespread panic, officials kept the report secret.
The recent emergence of the 15-page internal document may add to complaints in Japan that the government withheld too much information about the world’s worst nuclear accident since Chernobyl.
It also casts doubt about whether the government was sufficiently prepared to cope with what could have been an evacuation of unprecedented scale.
The report was submitted to then-Prime Minister Naoto Kan and his top advisers on March 25, two weeks after the earthquake and tsunami devastated the Fukushima Dai-ichi nuclear power plant, causing three reactors to melt down and generating hydrogen explosions that blew away protective structures.
Workers ultimately were able to bring the reactors under control, but at the time, it was unclear whether emergency measures would succeed. Kan commissioned the report, compiled by the Japan Atomic Energy Commission, to examine what options the government had if those efforts failed.
Authorities evacuated 59,000 residents within 20 kilometers (12 miles) of the Fukushima plant, with thousands more were evacuated from other towns later. The report said there was a chance far larger evacuations could be needed.
The report looked at several ways the crisis could escalate — explosions inside the reactors, complete meltdowns, and the structural failure of cooling pools used for spent nuclear fuel.
It said that each contingency was possible at the time it was written, and could force all workers to flee the vicinity, meaning the situation at the plant would unfold on its own, unmitigated.
Using matter-of-fact language, diagrams and charts, the report said that if meltdowns spiral out of control, radiation levels could soar.
In that case, it said evacuation orders should be issued for residents within and possibly beyond a 170-kilometer (105 mile) radius of the plant and “voluntary” evacuations should be offered for everyone living within 250 kilometers (155 miles) and even beyond that range.
That’s an area that would have included Tokyo and its suburbs, with a population of 35 million people, and other major cities such as Sendai, with a million people, and Fukushima city with 290,000 people.
The report further warned that contaminated areas might not be safe for “several decades.”
“We cannot rule out further developments that may lead to an unpredictable situation at Fukushima Dai-ichi nuclear plant, where there has been an accident, and this report outlines a summary of that unpredictable situation,” says the document, written by Shunsuke Kondo, head of the commission, which oversees nuclear policy.
After Kan received the report, he and other Japanese officials publicly insisted that there was no need to prepare for wider-scale evacuations.
Rumors of the document grew this month after media reports outlined its findings and an outside panel was created to investigate possible coverups. Kyodo News agency described the contents of the document in detail on Saturday.
The government continues to refuse to make the document public. The AP obtained it Wednesday through a government source, who insisted on anonymity because the document was still categorized as internal.
Goshi Hosono, the Cabinet minister in charge of the nuclear crisis, implicitly acknowledged the document’s existence earlier this month, but said the government had felt no need to make it public.
“It was a scenario based on hypothesis, and even in the event of such a development, we were told that residents would have enough time to evacuate,” Hosono said.
“We were concerned about the possibility of causing excessive and unnecessary worry if we went ahead and made it public,” he said. “That’s why we decided not to disclose it.”
A Japanese government nuclear policy official, Masato Nakamura, said Wednesday that he stood behind Hosono’s decisions on the document.
“It was all his decisions,” he said. “We do not disclose all administrative documents.”
Japanese authorities and regulators have been repeatedly criticized for how they have handled information amid the unfolding nuclear crisis. Officials initially denied that the reactors had melted down, and have been accused of playing down the health risks of exposure to radiation.
In another example, a radiation warning system known as SPEEDI had identified high-risk areas where thousands of people were continuing to live while the reactors were in critical condition. Officials did not use that data to order evacuations; they have since said it was not accurate enough.
The outside panel investigating the government response to the nuclear crisis has been critical, calling for more transparency in relaying information to the public.
“Risk communication during the disaster cannot be said to have been proper at all,” it said in its interim report last month.
Follow Mari Yamaguchi on Twitter at http://twitter.com/mariyamaguchi and Yuri Kageyama at http://twitter.com/yurikageyama
If someone asks me why I don’t trust any government this article is probably as good as any to support my view…how about you?
In this interesting video we learn pointedly how one of the top republican politicians has been bought all along.Do we want a bought president. You might ask why we are looking so political here on this site. This lizard like Newt has been completely bought off by the pharmaceutical industry. Is that who we want for a president. Watch below!
As incredible as it might seem for some, others like me have been convinced we were on this path for years, it appears that the end of the financial world as we know it is upon us!
How many headlines does one need to point to the obvious conclusion? This economic crisis is systemic, worldwide and now has a life of it’s own. The crisis cuts across almost every institution, banks, central banks, governments, politics, judicial system, stock markets, commodity markets, gold, silver, currencies…you name it and the effects or symptoms of this disease exists. It is impossible and imprudent to either ignore or explain away using all too familiar arguments fraught with illogical premises.
The Euro Zone crisis is the latest in a series of catastrophes beginning perhaps with the 2008 debacle that one might say was the trigger event that continues to bring us ‘gifts’ of the most rancid sort.
The best part of this process has been that ‘The People’ seem to have found some backbone (probably because they haven’t had enough to eat and their backbones are showing now to the point where it is impossible to ignore the causes) and the multiple ‘Truths’ that are coming out about the way in which the crisis and the institutions at their center are being dealt with by ‘OUR’ government!
The People regaining their voice world over is heartening. I support these acts of disobedience and sincerely hope that they are not hijacked by those that lie at the heart of our current malaise. We need only look to the Arab spring and fall and the Occupy Wall Street movement to see the Voice in action.
The dark side of people finding their voice is the all too frequent, expected but appalling, reaction of the ‘establishment’ as they send their minions out to protect their intersts ibid the horrifying scenes of pepper spray, rubber bullets and other examples of excessive force by the ‘storm troopers’ clearing out the protesters over the past several weeks. Of course, these actions are mild compared to the backlash at the people in Egypt as Arab Spring turns into Fall…multiple deaths are occurring everyday.
The Truths that are beginning to come out range from the continued abuse of the American Peoples ‘good nature’ as we see Fannie Mae and Freddie Mac execs receive obscene, multi million dollar compensation packages even when they continue to lose BILLIONS OF DOLLARS. Their excuse: Wall street pays big wage to those responsible for large amounts of dough…hey I say let Wall Street have these bums!
Further, we have more and more information as to just how deep the pile really is and it is deep…from outright criminal activity by banks to the regulatory agencies willing to turn a blind eye and the judicial/justice system willing to uphold all of it! Of course, there have been a few exceptions of judges willing to stand up to the SEC and other regulatory agencies and the Too Big To Fail’ banks.
My opinion: Someone needs to go to jail and pretty darn quick! There are multiple individuals that surely qualify! Certainly there are numerous firms that not only could use some hard line tactics to teach them ethics but also punitive fines, both against the individual and the institution, for such unethical behavior.
Unfortunately, there are few news outlets that will permit their reporters to actually report these events as they play out. Fortunately there are some as in Matt Taibbi of the Rolling Stone that has done and continues to do an outstanding job uncovering and reporting these incredible activities!
In my opinion it is a time for BIG CHANGES all over the world and in every sector of our cultures, banking, government and even the way in which people will interact with whatever system we end up with. It is time for ‘The People’ to take responsibility for the state we are in and move for conscious change!
In the meantime, gold, silver and some stored food never looked better…Be Prepared!
We all knew this one was coming, corruption, graft for a huge package of garbage that the county simply couldn’t afford to pay for…Aside from the local individuals that are doing jail time, the regular culprits were involve…too big to fail banksters moved this one past the limits again.
I haven’t heard of one single bankster going to jail on this one but several locals are doing time in Federal prison now. Seems rather unfair to me just in passing and that is solely my opinion.
Greece, Italy with Spain and Portugal probably next and Ireland not out of the woods, the entire global from countries to their citizenry are past their financial limits. Really the only thing left for the world governments, in my opinion, is to turn on the presses and print lots more money. I think they would rather see more inflation than have to totally rework the financial system as we know it today. I am buying silver on pull backs here.
Ala. county votes for largest municipal bankruptcy
BIRMINGHAM, Ala. (AP) — Leaders of Alabama’s most populous county on Wednesday voted to declare an estimated $4.1 billion bankruptcy, the largest for a municipality in U.S. history.
Two months after it seemed Jefferson County had struck a deal to settle the debt, the commissioners took the action. It came after spending about six hours over two days meeting with its lawyers to discuss legal options. Those options included a Chapter 9 bankruptcy filing and a settlement with creditors on the county’s $3.14 billion sewer debt.
Jefferson County has been trying since 2008 to avoid filing bankruptcy over the debt, which resulted from a mix of outdated sewer pipes, the lagging economy, court rulings and public corruption. At the same time, it faces a separate shortfall of as much as $50 million in its operating budget because courts struck down a major local tax as unconstitutional.
Commissioner Jimmie Stephens made the motion to file for bankruptcy. He said the commission and creditors never could complete the tentative agreement they reached in September and remained about $140 million apart.
“Despite our best efforts the negotiations had not produced any decision that fairly treats the county and our citizens. And it did not appear that further negotiations would produce that,” he said.
The September agreement called for $1 billion in concessions from creditors and sewer rate increases of up to 8.2 percent a year. He said that without more concessions, the rates would have had to be above 8.2 percent.
He said filing the largest municipal bankruptcy ever will create an initial shock, but it will be good to start resolving a financial problem that has hindered the county for too long.
“Jefferson County has, in effect, been in bankruptcy for three years,” he said.
The vote comes just two months after a preliminary deal was struck with Wall Street bankers that would have allowed the county to avoid the embarrassment of filing the largest municipal bankruptcy in the U.S. However, despite the deal providing a hopeful sign, there was still a possibility that bankruptcy would be necessary.
The deal was to have required state lawmakers to approve a mix of local tax hikes, budget changes and other legislation to resolve the billions in debt.
Jefferson County has about 658,000 residents and is home to both Alabama’s largest city, Birmingham, and its medical and financial centers.
The settlement proposal with Wall Street investors led by JPMorgan Chase & Co included the lenders agreeing to forgive about $1 billion in debt, the county refinancing about $2 billion, and the a series of sewer rate increases.
If Jefferson County follows through in filing for bankruptcy, it would overshadow the one filed by record-holder Orange County, Calif., in 1994 over debts totaling $1.7 billion.
Pennsylvania’s capital city of Harrisburg recently sought bankruptcy protection under similar circumstances as it struggled with about $300 million in debt from a trash incinerator that began operating in 1972.
A federal court forced Jefferson County to begin a huge upgrade of its outdated and overwhelmed sewer system to meet federal clean-water standards in the 1990s, and officials used bonds to finance the improvements. Outside advisers suggested a series of complex deals with variable-rate interest that were later shown to be laced with bribes and influence-peddling.
Loan payments rose quickly because of increasing interest rates as global credit markets struggled, and the county could no longer afford its payments. Meanwhile, a string of elected officials, public employees and business people were convicted of rigging the transactions that helped put the county in so much trouble.
Those convicted in the graft investigation include then-Birmingham Mayor Larry Langford, a former president of the Jefferson County Commission; and ex-Commissioner Chris McNair, whose daughter was one of the four black girls killed in an infamous Ku Klux Klan church bombing in Birmingham in 1963. Langford and McNair both are in federal prison.
I am also adding to my food storage supplies and making sure we have fuel to cook it with. I think it wise to pay attention to the world around us and take the hint…anything can happen at any given moment in any given place!