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The following top ten reasons for the assassination of John F. Kennedy has been excerpted from a previous essay entitled:
Warren Commission Report: The Most Absurd Investigation In US History
Who killed JFK? And why did they do it?

While this list is fairly exhaustive, it is by no means complete.  Kennedy was clearly on a mission to thwart the advancing of the New World Order agenda.  He was grimly aware that the NWO was insidiously encroaching upon every facet of civil society in America and throughout the entire world.  Therefore, he was remarkably successful at making enemies just about everywhere, both at home and abroad.

(1) JFK issued executive order # 11110 which essentially disempowered the Federal Reserve System. This international crime syndicate is a private banking cartel with no reserves and is not federal, since its owners are more foreign than domestic. Like President Andrew Jackson, he knew the FED had to go if there was to be freedom from permanent debt slavery for the USA.  Needless to say, the NWO bankers would not tolerate such audacity, and JFK knew he would pay the greatest price.

(2) JFK vowed to shut down the CIA shortly after the failed Bay of Pigs operation. The CIA is the granddaddy of all black ops and psyops around the world, including all major terrorist events before and since 911. With such an enormous and unaccountable black budget funding so many illegal schemes, JFK understood the CIA was the proverbial loose canon.  His firing of CIA Director, Allen Dulles, proved to be the last straw.  So was his vow to   “splinter the CIA into a thousand pieces and scatter it into the winds”.

(3) JFK was implementing plans to end the Viet Nam War. His failure to prosecute the war greatly irked the Roman Catholic Church, the war’s primary instigator. As the first Roman Catholic US president, he made it clear during his campaign that he would act with complete independence from Vatican influence and always govern as his conscience dictated. Terminating the Viet Nam War became JFK’s number one foreign policy agenda item, which put him at serious odds with the entire World Shadow Government.

(4) JFK adamantly opposed Israel’s plan to develop nuclear weapons. His uncompromising posture enraged Israeli Prime Minister David Ben Gurion, and brought upon him the wrath of the MOSSAD. A nuclear-armed Israel was an essential goal of those who would control the oil and gas reserves throughout the Middle East.  JFK was well aware of Israel’s intentions to terrorize the entire Middle East with threats of nuclear armageddon

(5) JFK was proceeding with plans to reveal highly classified information regarding the truth about UFO’s and the Alien Presence on Planet Earth. “He was the only member of Majestic 12 that wanted full disclosure to the American people.” That Extraterrestrial Biological Entities existed fascinated JFK, and he felt the nation had a right to know.  Such revelations would never be allowed by those who control the mainstream media and dictate world governance.

(6) JFK issued a direct warning to all Secret Societies operating on US soil. The Illuminati was not pleased! By taking concrete measures to expose their secret agendas and clandestine operations, he put himself at great risk and his entire Administration in serious jeopardy. Nevertheless, JFK knew that his unprecedented revelations in this regard sealed his fate.  It has even been asserted that he went to Dallas having been fully forewarned of  the murder plot.  Furthermore, he knew he was powerless to prevent a covert coup d’etat engineered and executed by the secret societies. 

(7) JFK’s brother and US Attorney General, Robert F. Kennedy, launched an unprecedented war on organized crime, and particularly against the NYC, New Orleans and Chicago mob families. Obviously the American Mafia was not pleased, especially after they allegedly helped swing the necessary Chicago vote (and therefore Illinois electoral votes) in JFK’s favor to win the election.  Bobby, himself, admitted that his aggressive pursuit of the mob may have caused the demise of his brother.

(8) JFK inherited the most intense foreign policy hotspot known as Cuba, as well as the CIA’s intention to assassinate Fidel Castro. The Cuban Missile Crisis had broad ramifications for his presidency, as well as for the Cold War. His decision-making independence throughout the crisis, especially his use of personal surrogates and unconventional process, would not be tolerated.  However, it was the Bay of Pigs (BOP) fiasco and the withdrawal of Air Force support from the operation which turned the CIA against him for good.   

(9) JFK took up the torch of civil rights in a way that no other President did throughout the 20th century. His embrace of the Civil Rights Movement drew close to him many who would try to sabotage his efforts “by all means necessary”. As the Great White Hope, JFK (and RFK) were considered to be a threat to those who would divide and rule through stoking racial hatreds.  TheDeep South was therefore a conducive environment to stage the assassination, just as southerners murdered Abraham Lincoln post Civil War.

(10) JFK had very serious and powerful enemies in the form of Lyndon B. Johnson, George H. W. Bush, Richard N. Nixon, J. Edgar Hoover, Allen Dulles, Dean Acheson, Aristotle Onassis, Carlos Marcello as well as the British Crown whose intentions were well known by his ambassador father, Joseph P. Kennedy. The entire global power structure, particularly the US Military-Industrial Complex, and its many secret societies and covert organizations, were vastly arrayed against him.  The World Shadow Government was determined to make an [UNFORGETTABLE] example of him. 

Each of these 10 explanations standing alone would be considered extremely life-threatening to any sitting president of the USA. And these are just the top ten; there are many other brave initiatives undertaken by JFK which pitted him directly against the TPTB (The Powers That Be).
Therefore, the real question is how JFK managed to survive as long as he did.

Lee Harvey Oswald: Unsung Hero Who Alerted JFK To ‘Assassination Plot’ In Chicago.

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Robert Latham Owen was a part-Cherokee Democratic Senator from Oklahoma between 1907 and 1925 who (ironically) championed efforts to strengthen public control of government.

He is, however, best-known as a co-sponsor of a bill that would change the world forever – The Federal Reserve Act of 1913 (which enabled the Federal Reserve System).

Writing later in his life, he reflected (as so many political leaders do once they leave office) on the real reason for the Federal Reserve Act…

From Robert Latham Owen’s “National economy and the banking system of the United States”

 

 

…Funding War!

http://www.zerohedge.com/news/2014-09-29/senate-sponsor-exposes-real-reason-fed

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Section 7. Division of Earnings

(a) Dividends And Surplus Funds Of Reserve Banks.

  1. Stockholder Dividends.
    1. In General. After all necessary expenses of a Federal reserve bank have been paid or provided for, the stockholders of the bank shall be entitled to receive an annual dividend of 6 percent on paid-in capital stock.
    2. Dividend Cumulative. The entitlement to dividends under subparagraph (A) shall be cumulative.
  2. Deposit Of Net Earnings In Surplus Fund. That portion of net earnings of each Federal reserve bank which remains after dividend claims under subparagraph (1)(A) have been fully met shall be deposited in the surplus fund of the bank.

(b) Transfer For Fiscal Year 2000.

  1. In General. The Federal reserve banks shall transfer from the surplus funds of such banks to the Board of Governors of the Federal Reserve System for transfer to the Secretary of the Treasury for deposit in the general fund of the Treasury, a total amount of $3,752,000,000 in fiscal year 2000.
  2. Allocated By Fed. Of the total amount required to be paid by the Federal reserve banks under paragraph (1) for fiscal year 2000, the Board shall determine the amount each such bank shall pay in such fiscal year.
  3. Replenishment Of Surplus Fund Prohibited. During fiscal year 2000, no Federal reserve bank may replenish such bank’s surplus fund by the amount of any transfer by such bank under paragraph (1).

[12 USC 289. As amended by acts of March 3, 1919 (40 Stat. 1314); June 16, 1933 (48 Stat. 163); Aug. 10, 1993 (107 Stat. 337); Sept. 23, 1994 (108 Stat. 2291); and Nov. 29, 1999 (113 Stat. 1501A-304), which added this subsection (b) but failed to redesignate existing subsection (b) (12 USC 290).]

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(b) Use of Earnings Transferred To The Treasury. The net earnings derived by the United States from Federal reserve banks shall, in the discretion of the Secretary, be used to supplement the gold reserve held against outstanding United States notes, or shall be applied to the reduction of the outstanding bonded indebtedness of the United States under regulations to be prescribed by the Secretary of the Treasury. Should a Federal reserve bank be dissolved or go into liquidation, any surplus remaining, after the payment of all debts, dividend requirements as hereinbefore provided, and the par value of the stock, shall be paid to and become the property of the United States and shall be similarly applied.

[12 USC 290. Part of original Federal Reserve Act; not amended. Designated subsection (b) by act of Aug. 10, 1993 (107 Stat. 337).]

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(c) Exemption From Taxation. Federal reserve banks, including the capital stock and surplus therein, and the income derived therefrom shall be exempt from Federal, State, and local taxation, except taxes upon real estate.

[12 USC 531. Part of original Federal Reserve Act. Designated subsection (c) by act of Aug. 10, 1993 (107 Stat. 338).]

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Dr Jim Willie has been talking about the BRICS nations (Brazil, Russia, China, India and South Africa) being joined by other nations to take down the dollar. He says there are now 80 nations in the BRICS alliance who have joined together to end the dollar’s reign as the international reserve currency. China could have taken down the US economy any time it wanted to after it had accumulated more than a trillion dollars in US Treasury bonds. All it had to do was to sell them and buy real assets until the US government collapsed and surrendered.

The Chinese are playing a much more sophisticated game. Their goal is to take down the dollar and the British pound but not to hurt their customers in Africa, Latin America, Australia and elsewhere. He thinks a Northern euro will emerge leaving southern Europe and France far behind. Italy’s future was hurt when they mistakenly decided to send half of their gold to New York. That gold is in Asia along with the bullion from the Netherlands and Germany. Dr Willie agrees with Jim Rickards who says the dollar will be devalued 80%. This will make imported goods 500% more expensive. And it will also enable foreigners to buy food off the shelves of America and Great Britain. Please note that the British pound is being targeted by the BRICS 80 as well.

Dr Willie also believes that J P Morgan and other financial firms in the US and the UK are helping China to manipulate gold and silver. The Chinese want to buy gold for a low price and spend it at a much higher price when everything goes to hell and Americans have to sell off their few remaining assets to feed themselves. He says the London and New York banks have been sending a thousand tons of gold to China every month since April of 2012. The dollar will collapse and the price of gold will skyrocket when there is no gold left in London and New York to send to China.

The Federal Reserve balance sheet has grown from $800 billion in 2009 to $3.9 trillion today. That is almost a 500% increase in less than 5 years. You would think that would be inflationary. But the federal government lies about employment, economic outlook and inflation. John Williams at Shadow Stats says the inflation rate is really almost 9%. Since GDP is flat, the real economy after factoring in the inflation rate is contracting at 9%.

Read more@ http://vidrebel.wordpress.com/2014/05/08/jim-willie-brics-80-preparing-to-take-down-the-dollar/

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Wall Street bonuses (on average) in 2013 rose 15% to the highest since 2007. As OSC Tom DiNapoli notes, “Securities industry employees took home significantly higher bonuses on average… although profits were lower than the prior year.” In fact, as we noted earlier, profits at the banks fell 30%.

Average compensation for securities industry professionals in New York City ($360,700) were 5.2 times greater than the rest of the private sector ($69,200).

Thank You Ben…

But don’t get too excited… The US is not #1 when it comes to bonuses…

Which global financial services centre should you situate yourself in if you work in banking and want to earn a big bonus? Surprisingly perhaps, the eFinancialCareers 2013 bonus survey suggests the answer is the City of London.

The average bonus in the UK was $98k (£58k) in 2013, according to survey respondents. This compares to an average of $72.9k in the U.S. and just $32.7k and $20.2k in Hong Kong and Singapore respectively. 

original link

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Abby Martin remarks on a recent report by GoodJobsFirst.org which exposes the absurd amount of taxpayer money used to provide some of the wealthiest companies in the US with corporate welfare.

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AVG Internet Security Business Edition 2012

From Private to Public Profit: We Need A New Deck, Not Another New Deal

“It will be a bitter pill for people to swallow–the idea of having less so that big business can have more. Nothing that this nation or any other nation has done in modern history compares with the selling job that must be done to make people accept the new reality.”

Business Week editorial October 12, 1974:

The “new reality” spoken of above was old capitalist private profit-public loss economics. It only seemed new to those raised in a time that averted total systemic collapse under what is now being called “unbridled capitalism”, by those who still seem to think a terminal threatening pandemic can be treated with band aids, aspirin and cough syrup. Getting people to believe that is part of the selling job that seems to have succeeded among consumers still under the total control of corporate mind management. Their numbers are shrinking.

The improvement in the lives of workers who became a middle class by receiving credit cards and other debt tools with which to consume all it produced and more, lasted from the end of the second world war to the 1970s. It was preceded by that devastating event that destroyed much of Europe, the Pacific and points between, leaving America untouched militarily and unchallenged economically. Prior to that war, the “New Deal”, a social democratic policy to help capitalism survive the Great Depression, created job programs that helped a crippled society. But it did not become healthy again until that war and its forced production of greater military might and full employment. Only the military budget has grown bigger, and more dangerous to humanity since then, while the employment tank is anything but full and moving dangerously close to empty.

One generation of workers in the developed western world became middle class, but only at the expense of many of its own and even more of a third world population that may have suffered more than in its colonial past as profits sucked from its resources enabled the rich western minority to have some of its excess trickle down to this relatively privileged working class. Those privileges have been slowly stripped away since the time of that opening quote, with wages, pensions and jobs themselves all declining for a global as well as American majority. Meanwhile, wealth has increased scandalously for minority upper classes that also span the globe in what the high priests, rabbis and mullahs of corporate capital call a “new” economy. And they are echoed by their fundamentalist parishioners still under the sway of the “selling job”, but this is a very old economy dating back to at least the 19th century, and possibly going back even further in its roots to biblical times. Whenever it started, it’s time to bring it to an end, before all of us suffer that fate.

Making life better for some at the expense of most is what’s wrong with a profit and loss market system controlled privately by capitalists. Any maintenance of that system under the guise of making things better in the short term while continued social disintegration is assured for the long term will keep humanity on the path to failure. Evidence is overwhelming that even positive reforms undertaken without connection to a program for total transformation of the system will only make our problems worse. Much worse.

As one among countless examples, the attempt to fight carbon pollution by putting profit and loss economics in further control of carbon production is truly putting not only the fox but the wolf, the hyena, and as many other predators imaginable in charge of the hen house. Just as dangerous in a time when we should be drastically reducing – as a prelude to ending  – our reliance on fossil fuel is the deadly fracking technique said to soon make the USA the biggest producer of fossil fuel in the world. Such measures will bring increasing stress to an environment already threatening humanity’s future. Even the 1% would ultimately suffer, though seemingly so far in the future that their professional class servants can disregard such beyond-our-lifetime problems and continue supporting existential live-in-the moment crackpot consumerism.

Of course these things and more will produce jobs and profits, but so does war, poverty, disease, famine and plague. That’s what’s wrong with a system that always profits some for doing just about anything, including killing people.

It isn’t necessary to have evil, greedy monsters in control of institutions that serve such a system. The nicest people who do their jobs with the highest intentions are part of the problem. The system in which they/we carry out our assignments needs to be confronted and transformed.

If a devastating earthquake were to strike the San Francisco Bay Area and kill thousands while destroying most of that city and its surrounding communities, great profits would be created for private firms collecting the dead, helping the wounded, cleaning up the debris and rebuilding the area. They would not be bad people and most might well do their jobs with the highest ideals. The humanitarian owners of a business which pays its employees well and gives them wonderful benefits will still have to lay them off if business is bad, since that is the nature of the system. And if that business is producing band-aids, the less people bleed the worse it will be for those wonderful employers and their workers. Auto collisions? Wreckage? Broken bodies? All are part of the economy of profits for some, at obvious loss to others. That is why we call it a “gross” domestic product; in essence, it is truly gross.

Creation of and cures for disease both create profits. Fighting wars and struggling for peace are profitable ventures, especially for those not doing the fighting or struggling but merely producing weapons, banners, programs, battles and counter battles. Nothing, absolutely nothing, is produced or distributed unless it creates a private profit. And that works very well, for some, but always at a loss to far more. That does not happen simply because one corporation is run by greedier people than another; it happens because private profit making corporations are the rule, the norm and the only reality. Until they are replaced by democratically owned and operated businesses which are run on behalf of the greater good for the general population, the system will continue to get worse.

Whether dubbed local, state, municipal or global policies, all adhering to profit and loss capitalism are parts of a system that is ravaging the earth and a majority of its people while making a small group wealthier beyond the dreams of even those who still remain under the sway of the selling job. The number of global billionaires increases as global poverty skyrockets, and this is duplicated in essence if not in numbers in the western nations formerly rewarding their workers and now reducing them to a growing class of working poor people.

Replacing villains with nicer people won’t do much good if the system they maintain continues to produce and distribute the wealth of life only on the basis of creating a private profit for some, since that will always mean a public loss for most others. And as is increasingly clear to anyone who will look beyond the short attention span selling job of consciousness controllers to the actual reality, the loss is being shared by larger and larger groups as the profits accrue to ever-smaller numbers. We need to turn that around, totally, and not just in parts. Many small reforms can lead to a social transformation, but only if they are understood as, and undertaken for, that larger task. We need a public-profit selling job to counter the propaganda campaign that continues telling us making a few people rich is a great way to advance humanity. Yeah, right.

email: fpscott@gmail.com

Frank Scott writes  political commentary and satire which is available online  at Legalienate

http://legalienate.blogspot.com

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When Risk Is Separated From Gain, The System Is Doomed

If the gambler has no feedback from his bets because the casino reimburses his losses, then he will continue gambling wildly and losing spectacularly.

Risk is an ever-present characteristic of life; it cannot be eliminated, it can only be masked or hedged. We know this intuitively, yet we blithely accept official assurances that risk can be eliminated by the monetary machinations of the Federal Reserve, the Central Bank of China, the Bank of Japan and the European Central Bank.

To confuse masking risk with the elimination of risk is the acme of hubris and the perfect setup for disaster. In my view, the global central bank response has been directed at masking risk and presenting this as the “solution” that has sent risk back to its lair, defeated. But cloaking risk does not eliminate it; official obfuscation merely pushes risk beneath the surface where it accumulates unseen.

Once the built-up risk reaches criticality, it explodes in “unforeseen” volatility that is often triggered by a seemingly unimportant event.

One way that risk is systemically and deliberately hidden is by separating it from the gain or loss that results from taking the risk. This is also called “moral hazard,” and the example everyone now knows is private banks that “privatized profits and socialized losses” by keeping their outsized profits skimmed in the go-go years and transferring their staggering losses to the public ledger.

From the point of view of risk analysis, the risk of losses from malinvestment and speculation were separated from the gains. The banks kept the gains but then diverted the losses (risk) to the taxpayers via the $14 trillion TARP bailout and $16 trillion in “secret” subsidies and give-aways only revealed by a FOIA release of 30,000 pages won by Bloomberg.

We can understand this disconnect as the severing of the feedback loop from risk to gain. If the gambler has no feedback from his bets because the casino reimburses his losses, then he will continue gambling wildly and losing spectaularly. After all, why not?

This explains why the Fed and the Obama administration will not just fail, but fail spectacularly: not only are they individually distant from the risks incurred by their policies, those entities they are protecting (the banking sector, the higher education cartel, sickcare, etc.) are also protected from risk.
Without feedback (we might also call it the possibility of loss or defeat), the players and the system are both intrinsically doomed to failure. There is no other end-state possible if you start from this initial condition.

Thanks to globe-trotting correspondent Toby B., who sent me the book and several other fascinating histories, I have read a deeply insightful history of the pivotal battle of Midway, June 1942: Shattered Sword: The Untold Story of the Battle of Midway.

The book is unique among war histories in that it explores the culture and internal conflicts of the Japanese Imperial Navy which contributed (as initial conditions) to the unexpected defeat at Midway by the inferior forces of the American Navy.

Having studied Japanese history, language, geography and literature in university, the culture of the Imperial Navy was not entirely new ground. But the internal conflicts over differing strategies in the Japanese central command and Imperial Navy were new and of great interest, for they reflected not just Japanese culture but (not unexpectedly) human nature.

Japan’s remarkably decisive successes in the first months of the Pacific war left the high command with the unusual problem of “what do we do next?” Having achieved all their tactical goals, debates raged over what to attempt next.

Admiral Yamamoto, the chief architect (though by no means uncontested) of Japan’s strategy, opted to draw out America’s aircraft carriers into a “decisive battle”–the heart of Japanese Naval doctrine. He devised the Midway campaign to do exactly this.

After such an amazing string of victories over the American, Dutch and British navies following Pearl Harbor, the idea of defeat did not enter the computations or the debates, nor did the idea that all the various strategies proposed were highly risky.

The denial and disorientation caused by the catastrophic loss of Japan’s four finest aircraft carriers in a single day did not deter the Japanese commanders from pressing on to Midway; their mindset did not allow for defeat, and so they had no choice but to press on to victory.

Eventually Admiral Yamamoto conceded the campaign had failed to reach its objectives–destroy the U.S. aircraft carriers and capture Midway Island, and that pressing on would only endanger what was left of the Japanese fleet.

All of this struck me as absolutely telling in regards to the Fed’s campaign to restart the U.S. economy by lowering interest rates to zero and flooding the system with free, cheap money (liquidity). The strategy is simple: drive the cost of borrowing money so low that people will once again buy homes with 3% down payments and huge mortgages, and plow their money into the stock market, the asset class (along with real estate) which is inflated monthly as an official Fed policy.

This is the Fed’s strategy: drive “risk assets” like stocks up until some magical point is reached and households feel wealthy and confident again, and start borrowing and spending with abandon. The fact that only 10% of U.S. households own enough stock to expereince this “wealth effect” simply doesn’t register in the Fed’s mindset: risk has been eliminated and thus victory is assured.

The idea that this strategy is flawed does not occur to the Fed leadership; this mindset is so narrow and atrophied that the Fed has no alternative but to “press on to victory,” even as the ship is sinking beneath them.
The same can be said of President Obama, who appears unable to grasp that his policies have been catastrophically misguided.

I suspect 2014 will be the year–after five long years of the same battle plan–that the total and complete failure of this strategy will be revealed to all. The Fed and Obama administration are steaming their flagships toward the booming guns on the horizon, confident of victory even as the undetected squadrons of risk are high above, setting their bombsites on the foaming white wakes of hubris below.

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Israeli To Officially Take Over as Vice Chairman of U.S. Federal Reserve Bank

We all know the Zionist banksters control the world money supply. This is NOT news. What is news is that they used to try to hide their occupation of the U.S. American money system by pretending to be Americans.

Now? Screw it! This time they are just blurting it out!

The Vice-Chairman of the U.S. Federal Reserve is going to be an Israeli bankster who ran the Bank of Israel Bank; Stanley Fischer. Plain and Simple!  Screw You America!

Now what will Americans do when they ALL realize that their banking system is run by Zionists as stated so on the main street marquee? Well, if they remember Andrew Jackson, they will throw this occupiers out on their bankster assess, arrest them, and thrown them all in prison.  Or maybe Americans will just again just take up the wazoo and bow to their masters?  Hard to say…..

I mean, when these psychotic predators ripped off 99% of all Americans with their mortgage thievery Americans did NOT know who to take out? Some on the right wing stupidly blamed the $ 2 per hour Mexican working man for the lost economy not realizing who had their hands deep into their real pockets. So really, it’s hard to gauge the tipping point for Americans and when they will revolt against their long lost government and the banksters that rule them.

But one truth these foreign global banksters know that “The Men Who Manage Men Manage but the Men Who Manage Money Manage All”  and they play the art of this war like a fiddler on the roof.

Who Is Israeli Stan Fischer?

According to Wiki, Stanley “Stan” Fischer (Hebrew: סטנלי פישר‎) (born October 15, 1943) is an Zambian-American-Israeli economist. He was the governor of the Bank of Israel in 2005-2013. He previously served as chief economist at the World Bank.

Fischer was born into a Jewish family in Mazabuka, Northern Rhodesia (now Zambia). When he was 13, his family moved to Southern Rhodesia (now Zimbabwe), where he became active in the Habonim Zionist youth movement. His family later moved to the United States. In 1960, he visited Israel as part of a winter program for youth leaders, and studied Hebrew at kibbutz Ma’agan Michael. He had originally planned to study at the Hebrew University of Jerusalem, but went to the United Kingdom to study after receiving a scholarship from the London School of Economics, and obtained his B.Sc. and M.Sc. in economics from 1962–1966. Fischer then moved to the United States to study at MIT, and earned a Ph.D. in economics in 1969 with thesis titled Essays on assets and contingent commodities. In the early 1970s, Fischer worked as an associate professor at the University of Chicago. He became an American citizen in 1976.

Fischer is married to Rhoda Fischer (née Keet), who had met during his days in Habonim. The couple have three children. When they moved to Israel, Rhoda became honorary president of Aleh Negev, a rehabilitation village for the disabled.

Screw You America!

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Gander Mountain

Part 6 – How Likely Are Bail-Ins? Bank of England Says U.S. “Could Do Today”

Today’s AM fix was USD 1,255.25, EUR 912.05 and GBP 765.49 per ounce.
Yesterday’s AM fix was USD 1,245.75, EUR 906.13 and GBP 757.76 per ounce.

Download our Bail-In Guide: Protecting your Savings In The Coming Bail-In Era(11 pages)

Gold rose $21.90 or 1.77% yesterday, closing at $1,262.50/oz. Silver soared $0.53 or 2.67% closing at $20.40/oz. Platinum climbed $15.25, or 1.1%, to $1,386.99/oz and palladium also rose $1.50 or 0.2%, to $735.20/oz.


Gold in U.S. Dollars, 5 Years – (Bloomberg)

Gold neared a three week high after climbing the most in 7 weeks, on strong physical buying in China and a weak dollar. Gold has recovered from a 5 month low on December 6 to reach $1,268/oz yesterday, its highest price since November 20. Physical demand, especially from Asia seems to be outweighing the jitters regarding the Federal Reserve’s much mooted ‘tapering’.


Silver in U.S. Dollars, 5 Years – (Bloomberg)

Shanghai Gold Exchange’s spot contract, rose for a third day to 15,224 kilograms yesterday showing continuing robust demand in the emerging global economic powerhouse.

Markets may have already priced in the possibility of a December tapering as prices did not show any weakness after last week’s stronger than expected non-farm payrolls data. Rather, gold has risen and hedge funds have rushed to cover their short positions ahead of the Fed meeting next week and due to growing concerns of a short squeeze.

However, market participants may again be proved wrong regarding tapering as there is a real risk that the Fed’s $85 billion bond buying programme continues. There is even a chance that the Fed’s bond buying programme increases due to the very fragile U.S. economy.

The dollar index is trading near a six-week low today as investors evaluate the uncertain outlook for the U.S. economy and dollar in 2014.

BOE Says U.S. “Could Do Today” And U.S Authorities Doing Simulation Exercises
The U.S. already has in place plans for bail-ins in the event of banks failing. Indeed, the U.S. has conducted simulation exercises with the U.K. in recent weeks and will do so again in 2014.

On October 12, Art Murton, the FDIC official in charge of planning for resolutions, and the Bank of England’s Deputy Governor Paul Tucker, both confirmed that the U.S. system is ready to handle a big-bank collapse.

The Bank of England’s Tucker, who has worked with U.S. regulators on the cross-border hurdles to taking down an international firm said that “U.S. authorities could do it today — and I mean today.”


The Bank of England

“A global financial system will not survive if we don’t crack this problem”, said Tucker.

The 2010 Dodd-Frank Act empowered the  Federal Deposit Insurance Corp. (FDIC) to seize a company or bank and dismantle it if regulators think a bankruptcy would pose a significant threat to the financial system.

This resolution authority hasn’t been tested, and the FDIC Chairman Martin J. Gruenberg, said his agency will disclose a full description of its approach by year-end — opening the idea to public comment.

Gruenberg said that China, Switzerland, Germany and Japan are among nations close to reaching arrangements with U.S. regulators with regard to dealing with mechanisms for failed banks.

U.S. regulators are working with German and Swiss counterparts on joint white papers similar to agreements already in place with the U.K. for how banks governed by multiple jurisdictions could be unwound by their host nations, Gruenberg said in remarks prepared for a speech in Washington on October 13. The FDIC will secure memorandums of understanding on bank resolutions with China and Japan soon, he said.

“It is critical that home and host jurisdictions understand well the approach to resolution of their counterpart and work together to develop a cooperative approach,” he said.

Germany and Switzerland share the U.S. preference for a so-called single point of entry, in which the host nation takes over a failed bank’s holding company, imposes losses on shareholders and lets healthy subsidiaries stay open. The approach depends on long term debt held in the parent to absorb losses and capitalise a healthy bridge company, Gruenberg said.


Federal Deposit Insurance Corp. (FDIC)

The agency is consulting with the Federal Reserve on a future rule to set a minimum and importantly it has conducted and is conducting simulation exercises.

U.S. regulators will run simulation exercises with U.K. counterparts this year and in 2014, Gruenberg said.

Gruenberg appeared to warn that the UK was vulnerable to bail-ins when he said that
“Nearly 70 percent of the on- and off-balance sheet assets of our major institutions are held in the U.K,” he said. “There is no close second.”

How Likely Are Bail-Ins?
There are differing opinions as to the severity of the on-going financial crisis, and whether it has turned a corner. There are two very broad ‘schools of thought’.

The first school believes that the U.S. Federal Reserve, along with partner central banks internationally, has successfully stabilised the global financial system through low interest rates and quantitative easing, while the EU has managed to help recapitalise banks and avoid bank insolvencies in the European Union and and the breakup of the European Monetary Union (EMU).

The second school is more skeptical of this view and believes that many banks globally remain vulnerable to insolvency because they are being kept on life-support due to extremely accommodating central bank measures including near zero percent interest rates and quantitative easing. Banks are also being supported through the use of almost fictional, though internationally endorsed, accounting treatment for their asset books, such as mark-to-model valuations for their over-the-counter (OTC) derivatives exposures and by failing to have realistic valuations on problematic property loan portfolios.

Many sovereigns nations remain vulnerable to sovereign debt crises. The Eurozone debt crisis and other sovereign debt crises have been solved for the moment through various forms of ultra loose monetary policies, quantitative easing or debt monetisation.

All short term panaceas have not addressed the root cause of the global debt crisis – too much debt.

Indeed, the concern is that the solution of socialising the debt and transferring it to the sovereign and taxpayers, has simply bought some time and may make the crisis much worse in the long term.

We believe the second school will be proved right in the coming months and years; therefore, depositors with deposits in certain banks, or planning to place deposits, must look at the likelihood of and how likely that bank is to get bailed in.

This likelihood would be a function of the strength of the individual bank, which jurisdiction that bank is governed by, which financial systems and economies the bank is exposed to, the extent to which the bank has potentially problematic property or derivatives exposure, and whether deposits are insured by deposit protection schemes, and to what extent are they insured.

In practice, the financial markets would normally do this analysis, but the previous approach of bail-outs and across the board central bank support appears to have clouded the analysis.

The movement by international monetary and financial institutions towards a bail-in regime and the extent of preparation for bail-ins suggest that bail-ins will happen should banks get into trouble again.

Recent statements by Mario Draghi suggest that depositors might be bailed-in in the future.

In a letter on the July 30th to Joaquín Almunia, the Vice President of the European Commission, Draghi suggested that bondholders might be spared in future, for fear that once burned bond investors may not return.

This would strongly suggest that sovereign governments would be required to make a decision as to whether they would absorb losses or instead force bailins on depositors. As do the preparations being put in place by the Bank of England and the FDIC.

Download our Bail-In Guide: Protecting your Savings In The Coming Bail-In Era(11 pages)

Download our Bail-In Research: From Bail-Outs to Bail-Ins: Risks and Ramifications –
Including 60 Safest Banks In The World List 
 (51 pages)

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Rep. Alan Grayson asks the Federal Reserve Inspector General about the trillions of dollars lent or spent by the Federal Reserve and where it went, and the trillions of off balance sheet obligations. Inspector General Elizabeth Coleman responds that the IG does not know and is not tracking where this money is.

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Former WORLD BANK Senior Counsel Karen Hudes Exposes IRS and JESUIT connection, OBAMA being blackmailed, NUCLEAR False Flag attack on US soil….and MORE. YOU MUST SEE ALL 3 PARTS OF THIS INTERVIEW.

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20131117_itsallshit

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Are You A Member Of The “1%” – In 2012 A Record 166 Americans Made Over $50 Million

Never in US history have so many individuals earned over $50 million per year.

 

Never before has the divide between the wealthy and the poor been so wide (never).

 

The source of this catalyst for unrest in society, as Mark Spitznagel warned, is not runaway entrepreneurial capitalism, which rewards those who best serve the consumer in product and price. (Would we really want it any other way?) There is another force that has turned a natural divide into a chasm: the Federal Reserve. The relentless expansion of credit by the Fed creates artificial disparities based on political privilege and economic power.

 

The actual distribution of wealth in America is mind-boggling – the following shows the pattern of income is similar to a power-log function (often referred to by Didier Sornette as the basis for his bubble indicator)…

As Spitznagel concludes so succinctly:

The Fed is transferring immense wealth from the middle class to the most affluent, from the least privileged to the most privileged. This coercive redistribution has been a far more egregious source of disparity than the president’s presumption of tax unfairness (if there is anything unfair about approximately half of a population paying zero income taxes) or deregulation.

 

Pitting economic classes against each other is a divisive tactic that benefits no one. Yet if there is any upside, it is perhaps a closer examination of the true causes of the problem. Before we start down the path of arguing about the merits of redistributing wealth to benefit the many, why not first stop redistributing it to the most privileged?

Finally, while the whole 1% meme may be so 2011 (now it is more 0.001%), for those wondering if they made the “cutoff”, the answer is if you made over $200,000 then yes.

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To inform people is hard slugging.  Everything is lined up against the public being informed, or the policymakers for that matter. News is contaminated by its service to special interests and hidden agendas. Many scientists or their employers are dependent on federal money.

Even psychologists and anthropologists were roped into the government’s torture and occupation programs. Economists tell lies for corporations and Wall Street.  Plant and soil scientists tell lies for agribusiness and Monsanto. Truth tellers are slandered and persecuted. However, persistence can eventually win out. In the long-run, truth sometimes emerges.  But not always. And not always in time. 

I have been trying to inform the American people, economists, and policymakers for more than a decade about the adverse impacts of jobs offshoring on the US economy.

The word has eventually gotten out. Last week I was contacted by 8th grade students competing for their school in CSPAN’s StudentCam Documentary Contest.  They want to interview me on the subject of jobs offshoring for their documentary film.

America is a strange place. Here are eighth graders far ahead of the economics profession, the President, the Congress, the Federal Reserve, Wall Street, and the financial press in their understanding of one of the fundamental problems of the US economy.  Yet, people say the public schools are failing.  Obviously, not the one whose students contacted me.

 Is it too late?  I know much, but not all.  So this is not the final word.  I think it might be too late.  When skilled jobs are sent abroad, the skills disappear at home. So do the supply chains and the businesses associated with the skills. Things close down, and abilities are lost.  Why take a major in collage for a job that is offshored. A culture disappears.

But we can start them back up, right?  Perhaps not. When a First World country exports its technology and know-how abroad to a Third World country in order to benefit from lower cost labor, how does the First World country get the work back?  Living standards and the cost of living in Third World countries are much lower than in First World countries. The populations of First World countries cannot pay their mortgages, car payments, student loans, medical care, and grocery bills with the wages of Third World countries.

 When First World wages drop, mortgage, car, credit card, and student loan payments do not drop. Americans cannot live on Chinese, Indian, and Indonesian wages. Once the technology and know-how is transferred, the low wage country has the advantage in the absence of tariff protection.

For America to revive, our economy would have to be walled off with high tariffs, and subsidies would have to be provided in order to recreate US industry and manufacturing. But many corporations now produce offshore, and America is broke. The government has been  $1 trillion dollars in the hole each year for the last 5 years.

Jobs offshoring diminished the US tax base. When a job is sent abroad, so is that job’s contribution to US GDP and tax base. When millions of jobs are sent abroad, US GDP and tax base cannot support government spending levels. To the extent that there are any replacement jobs, they are in lowly paid domestic services, such as waitresses, bartenders, retail clerks, and hospital orderlies. These jobs do not provide a tax base or consumer spending power comparable to manufacturing jobs and tradable professional services such as software engineering and information technology.

Republicans and increasingly Democrats, as both parties are dependent on the same sources of campaign contributions, blame “entitlements.”  By entitlements they mean welfare.

In fact, entitlements consist of Social Security and Medicare.  Entitlements are funded by the payroll tax, approximately 15% of payroll.  The fact that a person pays the payroll tax all his working life is why the person is entitled to Social Security and Medicare if they live to retirement age. Welfare, such as food stamps and housing subsidies, are a small part of the federal budget and are not entitlements.

Every since President Reagan was betrayed three decades ago by Alan Greenspan and David Stockman, both of whom sold out to Wall Street and raised the Social Security payroll tax above what was needed to pay Social Security benefits in order to protect Wall Street’s stock and bond portfolios from exaggerated deficit fears, Social Security payroll tax revenues have exceeded Social Security payments.  As of today, Social Security revenues exceed payments to beneficiaries by an accumulated $2 trillion.  The money was used by the federal government to pay for its wars and other spending programs. The Social Security Trust Fund holds non-marketable IOUs from the Treasury. These IOUs can only be made good from an excess of tax revenues over expenditures or by the Treasury selling $2 trillion in bonds, notes, and bills and paying off its IOUs to the Social Security Trust Fund. This is not going to happen.

The Federal Reserve could not care less about the US population. The Fed was established for the purpose of protecting and aiding banks.  Currently, the Fed, as if America were a Banana Republic which America appears to be becoming, is printing one thousand billion dollars per year in order to support the banks and to finance the federal deficit.

 This is bad news for Americans, as it means that their fiat money is being created at a far greater rate than the demand for the dollar.  The implication for our future is a drop in the dollar’s value.  As there are no jobs, a drop in the dollar’s value means high inflation on top of unemployment and double the misery of the Great Depression.

As bad as this is, it is minor compared to the destruction of the planet’s environment. Online information shows that the Gulf of Mexico ecosystem is in crisis after the BP spill and use of Corexit, a dispersant used to hide, not clean up, the spilled oil. http://www.opednews.com/articles/Gulf-ecosystem-in-crisis-a-by-Dahr-Jamail-Corporation-BP_Ecosystems_Gulf-Oil-Spill-Disaster_Gulf-Shrimping-Industry-131020-15.html

 The Fukushima catastrophe has hardly begun.  Yet already the radioactive water pouring into the Pacific Ocean has made fish dangerous to eat unless a person is willing to accept a higher risk of cancer.

Fukushima has the potential of making Japan uninhabitable and of polluting the air, water, and soil of the US with radioactivity.  Yet the crisis is seldom mentioned in the US media. In Japan the government just passed a law that could be used to imprison Japanese journalists who report truthfully on the dire situation.

Take the time to familiarize yourself with the online information about Fukushima.. According to the presstitute media, Americans face threats from Iran and Syria and from whistleblowers such as Edward Snowden.  The real threats are simply not in the news.

If you search Fukushima, you will find information that the presstitute media hides from you. See for example, http://www.globalresearch.ca/28-signs-that-the-west-coast-is-being-absolutely-fried-with-nuclear-radiation-from-fukushima/5355280

There are a number of other threats to the environment on which our lives depend. One is the effort to extract more productivity from the soil by use of GMOs. Monsanto has altered the genes of several crops so that the crops can be sprayed with RoundUp to eliminate weeds. The results have been to deplete the soil of nutrients, to destroy the micro-biology of the soil so that new plant diseases and funguses are activated, and to produce superweeds that require heavier doses of the glyphosate in RoundUp. The heavier dose of RoundUp worsens the aforementioned problems.  US agricultural soil is losing its potency.

Now we come to chemtrails, branded another “conspiracy theory.” http://en.wikipedia.org/wiki/Chemtrail_conspiracy_theory   However, the US government’s efforts to geo-engineer weather as a military weapon and as a preventative of global warming appear to be real. The DARPA  and HAARP programs are well known and are discussed publicly by scientists. See, for example,

http://news.sciencemag.org/2009/03/darpa-explore-geoengineering

Search Chemtrails, and you will find much information that is kept from you. See, for example,

http://www.globalresearch.ca/chemtrails-a-planetary-catastrophe-created-by-geo-engineering/5355299 and http://www.geoengineeringwatch.org

 Some describe chemtrails as a plot by the New World Order, the Rothchilds, the Bilderbergers, or the Masons, to wipe out the “useless eaters.”  Given the amount of evil that exists in the world, these conspiracy theories might not be as farfetched as they sound.

 However, I do not know that.  What does seem to be possibly true is that the scientific experiments to modify and control weather are having adverse real world consequences.  The claim that aluminum is being sprayed into the atmosphere and when it comes to earth is destroying the ability of soil to be productive might not be imaginary. Those concerned about chemtrails say that weather control experiments have deprived the western United States of rainfall, while sending the rain to the east where there have been hurricane level deluges and floods.

In the West, sparse rainfall and lightening storms without rain are resulting in forests drying out and burning down. Deforestation adversely affects the environment in many ways, including the process of photosynthesis by which trees convert carbon dioxide into oxygen. The massive loss of forests means more carbon dioxide and less oxygen.

Watershed and species habitat are lost, and spreading aridity further depletes ground and surface water. If these results are the consequences of weather modification experiments, the experiments should be stopped.

In North Georgia where I spend some summers, during 2013 it rained for 60 consecutive days, not all day, but every day, and some days the rainfall was 12 inches–hurricane level–and roads were washed out. I received last summer 4 automated telephone warnings from local counties not to drive and not to attempt to drive through accumulations of water on the highways.

One consequence of the excess of water in the East is that this year there are no acorns in North Georgia. Zilch, zero, nada.  Nothing. There is no food for the deer, the turkeys, the bear, the rodents. Starving deer will strip bark from the trees. Bears will be unable to hibernate or will be able only to partially hibernate, forced to seek food from garbage.  Black bears are already invading homes in search of food.

Unusual drought in the West and unusual flood in the East could be coincidental or they could be consequences of weather modification experiments.

The US, along with most of the world, already had a water problem prior to possible disruptions of rainfall by geo-engineering. In his book, Elixir, Brian Fagan tells the story of humankind’s mostly unsuccessful struggle with water. Both groundwater and surface water are vanishing. The water needs of large cities, such as Los Angeles and Phoenix, and the irrigation farming that depends on the Ogallala aquifer are unsustainable. Fagan reminds us that “the world’s supply of freshwater is finite,” just like the rest of nature’s resources. Avoiding cataclysm requires long-range thinking, but humanity is focused on immediate needs. Long-range thinking is limited to finding another water source to deplete. Cities and agriculture have turned eyes to the Great Lakes.

Los Angeles exists because the city was able to steal water from hundreds of miles away. The city drained Owens Lake, leaving a huge salt flat in its place, drained the Owens Valley aquifer, and diverted the Owens River to LA via aqueduct.  Farming and ranching in the Owens Valley collapsed. Today LA takes water from the Colorado River, which originates in Wyoming and Colorado, and from Lake Perris 440 miles away.

Water depletion is not just an American problem. Fagan reports that “underground aquifers in many places are shrinking so rapidly that NASA satellites are detecting changes in the earth’s gravity.”

If the government is experimenting with weather engineering, scientists are playing God when they have no idea of the consequences.  It is a tendency of scientists to become absorbed by the ability to experiment and to ignore unintended consequences.

 Readers have asked me to write about Fukushima and chemtrails because they trust me to tell them the truth. The problem is that I am not qualified to write about these matters with anything approaching the same confidence that I bring to economic, war and police state matters.

The only advice I can give is that when you hear the presstitute media smear a concern or explanation as “conspiracy theory,”  have a closer look.  The divergence between what is happening and what you are told is so vast that it pays to be suspicious, cynical even, of what “your” government and “your” presstitute media tell you. The chances are high that it is a lie.

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