Category: Conspiracy Theories


Saturday, May 18, 2013

Funny Obamas

Dave Hodges
Activist Post

Mark Twain once talked about history not necessarily repeating, but he noted that history sure does rhyme.

Richard Nixon was unable to survive one direct hit upon his administration, namely, the Watergate scandal. Conversely, Obama is facing five scandals which dwarf Watergate in terms of criminality, abuse of power, malfeasance of office and outright treason.

The damage inflicted upon the American people by the criminal syndicate occupying the White House is unparalleled in American history. Yet, Obama is going to survive and this article will describe how Obama is this century’s version of the famous escape artist, Houdini.

The Alternative Media Is Doing Its Job

In Part One of this series, I detailed how various researchers have determined that it only takes 10% of the population to passionately hold to an ideal for the ideal to reach critical mass and go viral. I also described how the knowledge that this country is being run by a criminal syndicate is taking hold and we have likely passed the 10% threshold as evidenced by the fact that America is outraged by (1) Benghazi-Gate; (2) IRS-Gate; (3) AP Spy-Gate; (4) Whistleblower-Gate; and even (5) Fast and Furious is beginning to make a second pass. The alternative media is being so effective that it is forcing the MSM to jump off Obama’s ship and claim they do not support him any longer (e.g. MSNBC Chris Mathews).

The Calm Before the Storm

Even the great fence-sitter, Glenn Beck, is beginning to throw words around like “impeachment” in reference to Obama. And this is coming from a man who cannot decide if he is in the MSM or the alternative media. Remember, according to Beck, 9/11 is exactly as the Bush administration claims it was, an al-Qaeda venture. This is the same al-Qaeda that we are allegedly fighting in Afghanistan while supporting in Syria in our effort to oust Assad.
Regardless of the pedigree of many reporters who are now hinting at the fact that we are witnessing the last days of the Obama administration, the President himself seems unbelievably calm.

Obama is calm because he knows that he is going to survive the largest onslaught of simultaneous scandal exposures in our country’s history. There has never been a time in our history in which a sitting president has been besieged with this much exposed fodder aimed at his removal. If Watergate forced Nixon to resign, Obama should have been crushed by the comparative weight of his scandals and he should have already exited the White House. Why hasn’t this happened?

Sacrificial Lambs Buy Time

It is not likely that the Mafioso inhabitant presently residing in the White House will ever leave office prematurely. In fact, I think it is likely that Obama may not leave the Oval Office in 2016 as well.

If this were 1974, I would be advising Obama to pack his bags and I would also be advising him that he should be begging Joe Biden to grant him a pardon for his criminal acts including the facilitation of the murder of Ambassador Stevens. Make no mistake about it, Obama will survive these crises. However, Holder and possibly even DHS director, Janet Napolitano, may not.

Undoubtedly, Obama will offer up the head of Eric Holder as a sacrificial lamb and he will be gone by Labor day, if not much sooner, and this will buy Obama time to enact his endgame strategies which will negate the five Watergate wolves trying to break through his door.

Holder’s departure will bring celebrations in the alternative media and their followers will be dancing in the streets. We will also smell blood and want more removals. But the head of the president will never be touched despite the fact that all of us will soon be screaming for Obama’s scalp. It will just never happen.

What Will Save This President?

There is one game-changing event which will suddenly and irreversibly negate the momentum that the alternative media has achieved in terms of exposing and removing this criminal administration from power.

In the last eight months, I have repeated the mantra that most of what drives this government today is the preservation of the Petrodollar on behalf of the Federal Reserve. I have also detailed how Iran is selling its oil to Russia, China and India for gold, thus threatening the preeminence of the Petrodollar in which the other countries of the world must first purchase dollars from the Federal Reserve for the “privilege” of purchasing oil. This process provides the only backing that our dollar possesses.

Iran, China, Russia and India are destabilizing the dominance of our currency. Before you cheer the fact that the Federal Reserve is about ready to take a much-deserved bloodbath, please realize that you have a job to go to every Monday morning because of this one-sided arrangement and it is all about to end unless Iran can be toppled.

Why Syria?

Have you yet figured out why Obama will survive these crushing scandals and assume power in this country in a manner only reserved for such despots as Stalin? The road to Obama’s immediate survival runs through Damascus.

On the surface, Syria seems so very insignificant on the global chessboard. However, the key to invading Iran and seizing their oil fields is to first control Syria, because the occupation of Syria is an insurmountable checkmate against Russian ground troops’ intervention.

If the US takes over the Syrian revolution that we started through our al-Qaeda proxy forces, the US will gain a huge tactical advantage in the Middle East. The installation of short- and medium-range missile batteries in Syria will serve as a deterrent and a blocking mechanism for Russian ground troops’ ability to intervene in Iran.

If Russia allows the US to control Syria, Russia will lose any chance of preventing a US/NATO takeover of Iran. Russia and China have heavily vested themselves in gold. If Iran is stopped from selling its oil for gold, China, Russia and India will have wasted an enormous amount of the respective GNP’s in acquiring gold. And the acquisition of gold will be for naught if the US is about to re-establish the dominance of the Petrodollar as the world’s reserve currency through a successful invasion of Iran.

For awhile, it appeared as if Russia did not have the stomach for WWIII and they were going to let us topple Assad without so much as a whimper. I have been shocked as I have watched Russia apparently acquiesce to an impending takeover of Syria by US-led forces. However, recent Russian events make it clear that WWIII is on the horizon.

Read Full Article Here

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Feds investigate two ricin-tainted letters

1 letter addressed to post office, other to federal judge

UPDATED 6:12 PM CDT May 16, 2013

 

 

The FBI and the U.S. Postal Inspection Service are trying to find the source of the two letters, intercepted Tuesday during a screening procedure at a postal facility in Spokane, FBI spokeswoman Ayn Sandalo Dietrich said.

“While we cannot offer further comment on this incident, we stress that law enforcement agencies will continue to assess and address the full spectrum of potential threats,” she said.

The American Postal Workers Union was notified of the two suspicious letters by the Postal Service, the union said.

One letter was addressed to the Spokane Post Office and the other to a federal judge in Spokane, the union said. Both were postmarked May 14, the union said.

 

 

Read Full Article Here

 

Flag of U.S. - Israeli - Saudi Allegiance photo Flagofamericanisraelisaudiallegiance_zpsef286a11.jpg

Flag of U.S. – Israeli – Saudi Allegiance  

~Desert Rose~

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In Wake of US-Israeli Attack on Syria, UN Reveals Terrorists Not Government Used Sarin Gas

So-called “red line” both drawn and then crossed by US-Saudi-Israeli axis and their terrorist proxies. 

May 6, 2013 (LD) – The reasoning behind recent US-Israeli attacks on Syria has been undermined further as the UN reveals Western-backed terrorists, not the Syrian government, deployed sarin gas during the 2 year conflict. Reuters reported in their article, “U.N. has testimony that Syrian rebels used sarin gas: investigator,” that:

U.N. human rights investigators have gathered testimony from casualties of Syria’s civil war and medical staff indicating that rebel forces have used the nerve agent sarin, one of the lead investigators said on Sunday.

The United Nations independent commission of inquiry on Syria has not yet seen evidence of government forces having used chemical weapons, which are banned under international law, said commission member Carla Del Ponte.

“Our investigators have been in neighboring countries interviewing victims, doctors and field hospitals and, according to their report of last week which I have seen, there are strong, concrete suspicions but not yet incontrovertible proof of the use of sarin gas, from the way the victims were treated,” Del Ponte said in an interview with Swiss-Italian television.

Why the Small Amounts of Sarin Cited by Washington, Riyadh, and Tel Aviv are a Set Up 

The small amounts of sarin gas reportedly used would defy any tactical or strategic sense had they been deployed by the Syrian government to tip the balance in the destructive 2-year conflict. According to the US military’s own assessments of chemical weapon use during the 1980′s Iran-Iraq War, only under ideal conditions and with massive amounts of chemical agents can tactical and strategic outcomes be achieved – and that conventional weapons were still, by far, superior to chemical weapons of any kind.

A document produced by the US Marine Corps, titled, “Lessons Learned: The Iran-Iraq War” under “Appendix B: Chemical Weapons,” provides a comprehensive look at the all-out chemical warfare that took place during the devastating 8 year Iranian-Iraqi conflict. Several engagements are studied in detail, revealing large amounts of chemical agents deployed mainly to create areas of denial, not mass casualties.

The effectiveness and lethality of chemical weapons is summarized in the document as follows (emphasis added):

Chemical weapons require quite particular weather and geographic conditions for optimum effectiveness. Given the relative nonpersistence of all agents employed during this war, including mustard, there was only a brief window of employment opportunity both daily and seasonally, when the agents could be used. Even though the Iraqis employed mustard agent in the rainy season and also in the marshes, its effectiveness was significantly reduced under those conditions. As the Iraqis learned to their chagrin, mustard is not a good agent to employ in the mountains, unless you own the high ground and your enemy is in the valleys.

We are uncertain as to the relative effectiveness of nerve agents since those which were employed are by nature much less persistent than mustard. In order to gain killing concentrations of these agents, predawn attacks are best, conducted in areas where the morning breezes are likely to blow away from friendly positions.

Chemical weapons have a low kill ratio. Just as in WWl, during which the ratio of deaths to injured from chemicals was 2-3 percent, that figure appears to be borne out again in this war although reliable data on casualties are very difficult to obtain. We deem it remarkable that the death rate should hold at such a low level even with the introduction of nerve agents. If those rates are correct, as they well may be, this further reinforces the position that we must not think of chemical weapons as “a poor man’s nuclear weapon.” While such weapons have great psychological potential, they are not killers or destroyers on a scale with nuclear or biological weapons.

Clearly, the minute amounts of sarin the West has accused the Syrian government of using, makes no tactical, political, or strategic sense. However, these small amounts of sarin gas, now suspected to be the work of Western-backed terrorists, would have been perfect for establishing a pretext for Western military intervention, and in fact, have been in part cited by the US and Israel in their latest, unprovoked aerial assault on Damascus.

The terrorists operating in Syria possess the means and motivation to carry out such an operation, as do their Western sponsors.

Where Did Western-backed Terrorists Obtain Sarin? 

A number of methods could have lent sarin gas to terrorists operating in Syria – from Turkey, Israel, and the US simply handing select units the chemical agent in a clandestine operation, to Libyan terrorists confirmed to have been flooding into Syria for the past 2 years, bringing looted chemical stockpiles with them after NATO’s disastrous invasion in 2011 left them in the hands of a sectarian extremist regime.

Image: (via the Guardian) “Chemical containers in the Libyan desert. There are concerns unguarded weapons could fall into the hands of Islamist militants. Photograph: David Sperry/AP”

….

Indeed, Libya’s arsenal had fallen into the hands of sectarian extremists with NATO assistance in 2011 in the culmination of efforts to overthrow the North African nation . Since then, Libya’s militants led by commanders of Al Qaeda’s Libyan Islamic Fighting Group (LIFG) have armed sectarian extremists across the Arab World, from as far West as Mali, to as far East as Syria.

Libyan LIFG terrorists are confirmed to be flooding into Syria from Libya. In November 2011, the Telegraph in their article, “Leading Libyan Islamist met Free Syrian Army opposition group,” would report:

Abdulhakim Belhadj, head of the Tripoli Military Council and the former leader of the Libyan Islamic Fighting Group, “met with Free Syrian Army leaders in Istanbul and on the border with Turkey,” said a military official working with Mr Belhadj. “Mustafa Abdul Jalil (the interim Libyan president) sent him there.”

Another Telegraph article, “Libya’s new rulers offer weapons to Syrian rebels,” would admit

Syrian rebels held secret talks with Libya’s new authorities on Friday, aiming to secure weapons and money for their insurgency against President Bashar al-Assad’s regime, The Daily Telegraph has learned.

At the meeting, which was held in Istanbul and included Turkish officials, the Syrians requested “assistance” from the Libyan representatives and were offered arms, and potentially volunteers.
“There is something being planned to send weapons and even Libyan fighters to Syria,” said a Libyan source, speaking on condition of anonymity. “There is a military intervention on the way. Within a few weeks you will see.”

Later that month, some 600 Libyan terrorists would be reported to have entered Syria to begin combat operations and have been flooding into the country ever since.

Image: Libyan Mahdi al-Harati of the US State Department, United Nations, and the UK Home Office (page 5, .pdf)-listed terrorist organization, the Libyan Islamic Fighting Group (LIFG), addressing fellow terrorists in Syria. Harati is now commanding a Libyan brigade operating inside of Syria attempting to destroy the Syrian government and subjugate the Syrian population. Traditionally, this is known as “foreign invasion.” 

….

In Time’s article, “Libya’s Fighters Export Their Revolution to Syria,” it is reported:

Some Syrians are more frank about the assistance the Libyans are providing. “They have heavier weapons than we do,” notes Firas Tamim, who has traveled in rebel-controlled areas to keep tabs on foreign fighters. “They brought these weapons to Syria, and they are being used on the front lines.” Among the arms Tamim has seen are Russian-made surface-to-air missiles, known as the SAM 7.

Libyan fighters largely brush off questions about weapon transfers, but in December they claimed they were doing just that. “We are in the process of collecting arms in Libya,” a Libyan fighter in Syria told the French daily Le Figaro. “Once this is done, we will have to find a way to bring them here.”

american-empire-2

                                                               American Empire

US Prepares to Overthrow Malaysian Government

 

Key to encircling and containing China, US sets proxies in motion for color revolution in Malaysian streets. 

 

Image: US-proxy Anwar Ibrahim leads a Bersih rally in Malaysia. While Bersih has attempted to claim it is “independent” and simply pursusing “fair and clean elections,” it is clearly a vehicle for returning Anwar Ibrahim back into power. Additionally, Bersih shares the same ties to the US State Department’s National Endowment for Democracy (NED) as its crypto-leader Anwar Ibrahim – representing a dangerous and seditious conflict of interest.

 

….

 

May 15, 2013 (AltThaiNews) – US-funded opposition fronts have vowed to overthrow the Malaysian government via disruptive and potentially violent street protests in the wake of general elections that saw their leader Anwar Ibrahim soundly defeated despite massive support from Western media, NGOs, and direct government intervention. Free Malaysia Today (FMT) reported in their article, “‘BN will be toppled this year’,” that:

Pro-Pakatan Rakyat groups have vowed to overthrow the Barisan Nasional government this year through a massive street rally.

Speakers at a forum held yesterday unanimously agreed that waiting for five years until the next
general election was too long, and vowed to overthrow BN this year through “force”.

FMT also added that:

Electoral watchdog group Bersih 2.0 steering committee member  Hishamuddin Rais pointed out that it was useless to take their unhappiness to the courts as he claimed the justice system was being controlled by the government.

“That is why we must take to the streets. We have to come out. What Najib likes is wrong, and what he doesn’t like is what we have to do,” he said.

“We will mobilise a big group and rally on the streets. This is not a threat, this is a promise,” he stressed.

Bersih, of course, is a US State Department-funded opposition front aimed to bolster US-proxy candidate Anwar Ibrahim, formerly of the IMF and World Bank, and a frequent visitor to the insidious National Endowment for Democracy (NED) in Washington D.C. It is in fact, NED that funds Bersih through its subsidiary, the National Democratic Institute (NDI).
The Malaysian Insider reported on June 27, 2011 that Bersih leader Ambiga Sreenevassan:

“…admitted to Bersih receiving some money from two US organisations — the National Democratic Institute (NDI) and Open Society Institute (OSI) — for other projects, which she stressed were unrelated to the July 9 march.”

A visit to the NDI website revealed indeed that funding and training had been provided by the US organization – before NDI took down the information and replaced it with a more benign version purged entirely of any mention of Bersih. For funding Ambiga claims is innocuous, the NDI’s rushed obfuscation of any ties to her organization suggests something far more sinister at play.

Photo: NDI’s website before taking down any mention to Malaysia’s Bersih movement. (click image to enlarge)

….

In addition to Bersih, other faux-electoral monitors are also directly funded by the US government. While the Western media attempts to portray such organizations as “independent,” the Merdeka Center for Opinion Research, for example, is likewise funded directly by the US through NED.

Anwar Ibrahim himself was Chairman of the Development Committee of the World Bank and International Monetary Fund (IMF) in 1998, held lecturing positions at the School of Advanced International Studies at Johns Hopkins University, was a consultant to the World Bank, and a panelist at the Neo-Con lined National Endowment for Democracy’s “Democracy Award” and a panelist at a NED donation ceremony – the very same US organization funding and supporting Bersih and so-called “independent” election monitor Merdeka – paints a picture of an opposition running for office in Malaysia, not for the Malaysian people, but clearly for the corporate financier interests of Wall Street and London.

 

Read Full Article Here

democracynow democracynow

Published on Apr 19, 2013

http://www.democracynow.org – In 1982, investigative journalist Allan Nairn interviewed a Guatemalan general named “Tito” on camera during the height of the indigenous massacres. It turns out the man was actually Otto Pérez Molina, the current Guatemalan president. We air the original interview footage and speak to Nairn about the U.S. role backing the Guatemalan dictatorship. Last week, Nairn flew to Guatemala where he had been scheduled to testify in the trial of former U.S.-backed dictator Efraín Ríos Montt, the first head of state in the Americas to stand trial for genocide. Ríos Montt was charged in connection with the slaughter of more than 1,700 people in Guatemala’s Ixil region after he seized power in 1982. His 17-month rule is seen as one of the bloodiest chapters in Guatemala’s decades-long campaign against Maya indigenous people, which resulted in the deaths of hundreds of thousands. The trial took a surprising turn last week when Guatemala President Gen. Otto Pérez Molina was directly accused of ordering executions. A former military mechanic named Hugo Reyes told the court that Pérez Molina, then serving as an army major and using the name Tito Arias, ordered soldiers to burn and pillage a Maya Ixil area in the 1980s.

Exclusive: Allan Nairn Exposes Role of U.S., New Guatemalan President in Indigenous Massacres 2 of 2

democracynow democracynow

Published on Apr 19, 2013

http://www.democracynow.org – In 1982, investigative journalist Allan Nairn interviewed a Guatemalan general named “Tito” on camera during the height of the indigenous massacres. It turns out the man was actually Otto Pérez Molina, the current Guatemalan president. We air the original interview footage and speak to Nairn about the U.S. role backing the Guatemalan dictatorship. Last week, Nairn flew to Guatemala where he had been scheduled to testify in the trial of former U.S.-backed dictator Efraín Ríos Montt, the first head of state in the Americas to stand trial for genocide. Ríos Montt was charged in connection with the slaughter of more than 1,700 people in Guatemala’s Ixil region after he seized power in 1982. His 17-month rule is seen as one of the bloodiest chapters in Guatemala’s decades-long campaign against Maya indigenous people, which resulted in the deaths of hundreds of thousands. The trial took a surprising turn last week when Guatemala President Gen. Otto Pérez Molina was directly accused of ordering executions. A former military mechanic named Hugo Reyes told the court that Pérez Molina, then serving as an army major and using the name Tito Arias, ordered soldiers to burn and pillage a Maya Ixil area in the 1980s.

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Obama calls IRS flap ‘inexcusable,’ announces resignation of acting IRS chief

 

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NBC’s Chuck Todd examines the White House’s attempt to take control of the IRS scandal, saying if the public thinks the government has lost control on the IRS front, then the Obama administration will have more difficulty in implementing new policies.

President Barack Obama said Wednesday that he was “angry” at IRS officials who inappropriately targeted conservative groups for scrutiny, announcing that his administration had sought and accepted Steven Miller’s resignation as interim commissioner of the IRS.

“I’ve reviewed the Treasury Department watchdog’s report, and the misconduct that it uncovered was inexcusable,” Obama said in a statement at the White House. “It’s inexcusable, and Americans are right to be angry about it, and I’m angry about it.”

The president said that he expected the IRS to act with even higher levels of integrity than other government agencies and that, to that end, Treasury Secretary Jack Lew had sought and accepted Miller’s resignation — something many Republicans had demanded.

A great deal of what IRS has said regarding the targeting scandal was proven to be incomplete or flat out wrong prompting genuine outrage among both Democrats and Republicans. House Speaker John Boehner is now asking who is going to go to jail over this as the IRS continues to blame targeting of conservatives on a few rogue employees. Now Attorney General Holder has promised an investigation to see if IRS employees broke the law. NBC’s Lisa Myers reports.

Obama also pledged to work with Congress in its emerging investigation into the controversy, pledging his administration would work “hand in hand with Congress” to further its oversight. But the president also cautioned lawmakers to conduct their probe “in a way that doesn’t smack of politics or partisan agendas.”

“If the President is as concerned about this issue as he claims, he’ll work openly and transparently with Congress to get to the bottom of the scandal — no stonewalling, no half-answers, no withholding of witnesses,” the top Republican senator, Kentucky’s Mitch McConnell, said in a statement.

 

Read Full Article and  Watch Video Here

The People vs. Goldman Sachs

A Senate committee has laid out the evidence. Now the Justice Department should bring criminal charges

May 11, 2011 9:30 AM ET
Goldman Sachs CEO Lloyd Blankfein tesifies before the Senate in April 2010
Goldman Sachs CEO Lloyd Blankfein tesifies before the Senate in April 2010
Mark Wilson/Getty Images

They weren’t murderers or anything; they had merely stolen more money than most people can rationally conceive of, from their own customers, in a few blinks of an eye. But then they went one step further. They came to Washington, took an oath before Congress, and lied about it.

Thanks to an extraordinary investigative effort by a Senate subcommittee that unilaterally decided to take up the burden the criminal justice system has repeatedly refused to shoulder, we now know exactly what Goldman Sachs executives like Lloyd Blankfein and Daniel Sparks lied about. We know exactly how they and other top Goldman executives, including David Viniar and Thomas Montag, defrauded their clients. America has been waiting for a case to bring against Wall Street. Here it is, and the evidence has been gift-wrapped and left at the doorstep of federal prosecutors, evidence that doesn’t leave much doubt: Goldman Sachs should stand trial.

The great and powerful Oz of Wall Street was not the only target of Wall Street and the Financial Crisis: Anatomy of a Financial Collapse, the 650-page report just released by the Senate Subcommittee on Investigations, chaired by Democrat Carl Levin of Michigan, alongside Republican Tom Coburn of Oklahoma. Their unusually scathing bipartisan report also includes case studies of Washington Mutual and Deutsche Bank, providing a panoramic portrait of a bubble era that produced the most destructive crime spree in our history — “a million fraud cases a year” is how one former regulator puts it. But the mountain of evidence collected against Goldman by Levin’s small, 15-desk office of investigators — details of gross, baldfaced fraud delivered up in such quantities as to almost serve as a kind of sarcastic challenge to the curiously impassive Justice Department — stands as the most important symbol of Wall Street’s aristocratic impunity and prosecutorial immunity produced since the crash of 2008.

Photo Gallery: How Goldman top dogs defrauded their clients and lied to Congress

To date, there has been only one successful prosecution of a financial big fish from the mortgage bubble, and that was Lee Farkas, a Florida lender who was just convicted on a smorgasbord of fraud charges and now faces life in prison. But Farkas, sadly, is just an exception proving the rule: Like Bernie Madoff, his comically excessive crime spree (which involved such lunacies as kiting checks to his own bank and selling loans that didn’t exist) was almost completely unconnected to the systematic corruption that led to the crisis. What’s more, many of the earlier criminals in the chain of corruption — from subprime lenders like Countrywide, who herded old ladies and ghetto families into bad loans, to rapacious banks like Washington Mutual, who pawned off fraudulent mortgages on investors — wound up going belly up, sunk by their own greed.

Read Full Article Here
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Everything Is Rigged: The Biggest Price-Fixing Scandal Ever

The Illuminati were amateurs. The second huge financial scandal of the year reveals the real international conspiracy: There’s no price the big banks can’t fix

 

Illustration by Victor Juhasz
April 25, 2013 1:00 PM ET

Conspiracy theorists of the world, believers in the hidden hands of the Rothschilds and the Masons and the Illuminati, we skeptics owe you an apology. You were right. The players may be a little different, but your basic premise is correct: The world is a rigged game. We found this out in recent months, when a series of related corruption stories spilled out of the financial sector, suggesting the world’s largest banks may be fixing the prices of, well, just about everything.

You may have heard of the Libor scandal, in which at least three – and perhaps as many as 16 – of the name-brand too-big-to-fail banks have been manipulating global interest rates, in the process messing around with the prices of upward of $500 trillion (that’s trillion, with a “t”) worth of financial instruments. When that sprawling con burst into public view last year, it was easily the biggest financial scandal in history – MIT professor Andrew Lo even said it “dwarfs by orders of magnitude any financial scam in the history of markets.”

That was bad enough, but now Libor may have a twin brother. Word has leaked out that the London-based firm ICAP, the world’s largest broker of interest-rate swaps, is being investigated by American authorities for behavior that sounds eerily reminiscent of the Libor mess. Regulators are looking into whether or not a small group of brokers at ICAP may have worked with up to 15 of the world’s largest banks to manipulate ISDAfix, a benchmark number used around the world to calculate the prices of interest-rate swaps.

Interest-rate swaps are a tool used by big cities, major corporations and sovereign governments to manage their debt, and the scale of their use is almost unimaginably massive. It’s about a $379 trillion market, meaning that any manipulation would affect a pile of assets about 100 times the size of the United States federal budget.

It should surprise no one that among the players implicated in this scheme to fix the prices of interest-rate swaps are the same megabanks – including Barclays, UBS, Bank of America, JPMorgan Chase and the Royal Bank of Scotland – that serve on the Libor panel that sets global interest rates. In fact, in recent years many of these banks have already paid multimillion-dollar settlements for anti-competitive manipulation of one form or another (in addition to Libor, some were caught up in an anti-competitive scheme, detailed in Rolling Stone last year, to rig municipal-debt service auctions). Though the jumble of financial acronyms sounds like gibberish to the layperson, the fact that there may now be price-fixing scandals involving both Libor and ISDAfix suggests a single, giant mushrooming conspiracy of collusion and price-fixing hovering under the ostensibly competitive veneer of Wall Street culture.

The Scam Wall Street Learned From the Mafia

Why? Because Libor already affects the prices of interest-rate swaps, making this a manipulation-on-manipulation situation. If the allegations prove to be right, that will mean that swap customers have been paying for two different layers of price-fixing corruption. If you can imagine paying 20 bucks for a crappy PB&J because some evil cabal of agribusiness companies colluded to fix the prices of both peanuts and peanut butter, you come close to grasping the lunacy of financial markets where both interest rates and interest-rate swaps are being manipulated at the same time, often by the same banks.

“It’s a double conspiracy,” says an amazed Michael Greenberger, a former director of the trading and markets division at the Commodity Futures Trading Commission and now a professor at the University of Maryland. “It’s the height of criminality.”

The bad news didn’t stop with swaps and interest rates. In March, it also came out that two regulators – the CFTC here in the U.S. and the Madrid-based International Organization of Securities Commissions – were spurred by the Libor revelations to investigate the possibility of collusive manipulation of gold and silver prices. “Given the clubby manipulation efforts we saw in Libor benchmarks, I assume other benchmarks – many other benchmarks – are legit areas of inquiry,” CFTC Commissioner Bart Chilton said.

But the biggest shock came out of a federal courtroom at the end of March – though if you follow these matters closely, it may not have been so shocking at all – when a landmark class-action civil lawsuit against the banks for Libor-related offenses was dismissed. In that case, a federal judge accepted the banker-defendants’ incredible argument: If cities and towns and other investors lost money because of Libor manipulation, that was their own fault for ever thinking the banks were competing in the first place.

“A farce,” was one antitrust lawyer’s response to the eyebrow-raising dismissal.

“Incredible,” says Sylvia Sokol, an attorney for Constantine Cannon, a firm that specializes in antitrust cases.

 

Read Full Article Here

 

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Secrets and Lies of the Bailout

The federal rescue of Wall Street didn’t fix the economy – it created a permanent bailout state based on a Ponzi-like confidence scheme. And the worst may be yet to come

January 4, 2013 4:25 PM ET
national affairs secrets of the bailout taibbi
Illustration by Victor Juhasz

It has been four long winters since the federal government, in the hulking, shaven-skulled, Alien Nation-esque form of then-Treasury Secretary Hank Paulson, committed $700 billion in taxpayer money to rescue Wall Street from its own chicanery and greed. To listen to the bankers and their allies in Washington tell it, you’d think the bailout was the best thing to hit the American economy since the invention of the assembly line. Not only did it prevent another Great Depression, we’ve been told, but the money has all been paid back, and the government even made a profit. No harm, no foul – right?

Wrong.

It was all a lie – one of the biggest and most elaborate falsehoods ever sold to the American people. We were told that the taxpayer was stepping in – only temporarily, mind you – to prop up the economy and save the world from financial catastrophe. What we actually ended up doing was the exact opposite: committing American taxpayers to permanent, blind support of an ungovernable, unregulatable, hyperconcentrated new financial system that exacerbates the greed and inequality that caused the crash, and forces Wall Street banks like Goldman Sachs and Citigroup to increase risk rather than reduce it. The result is one of those deals where one wrong decision early on blossoms into a lush nightmare of unintended consequences. We thought we were just letting a friend crash at the house for a few days; we ended up with a family of hillbillies who moved in forever, sleeping nine to a bed and building a meth lab on the front lawn.

How Wall Street Killed Financial Reform

But the most appalling part is the lying. The public has been lied to so shamelessly and so often in the course of the past four years that the failure to tell the truth to the general populace has become a kind of baked-in, official feature of the financial rescue. Money wasn’t the only thing the government gave Wall Street – it also conferred the right to hide the truth from the rest of us. And it was all done in the name of helping regular people and creating jobs. “It is,” says former bailout Inspector General Neil Barofsky, “the ultimate bait-and-switch.”

The bailout deceptions came early, late and in between. There were lies told in the first moments of their inception, and others still being told four years later. The lies, in fact, were the most important mechanisms of the bailout. The only reason investors haven’t run screaming from an obviously corrupt financial marketplace is because the government has gone to such extraordinary lengths to sell the narrative that the problems of 2008 have been fixed. Investors may not actually believe the lie, but they are impressed by how totally committed the government has been, from the very beginning, to selling it.

THEY LIED TO PASS THE BAILOUT

Today what few remember about the bailouts is that we had to approve them. It wasn’t like Paulson could just go out and unilaterally commit trillions of public dollars to rescue Goldman Sachs and Citigroup from their own stupidity and bad management (although the government ended up doing just that, later on). Much as with a declaration of war, a similarly extreme and expensive commitment of public resources, Paulson needed at least a film of congressional approval. And much like the Iraq War resolution, which was only secured after George W. Bush ludicrously warned that Saddam was planning to send drones to spray poison over New York City, the bailouts were pushed through Congress with a series of threats and promises that ranged from the merely ridiculous to the outright deceptive. At one meeting to discuss the original bailout bill – at 11 a.m. on September 18th, 2008 – Paulson actually told members of Congress that $5.5 trillion in wealth would disappear by 2 p.m. that day unless the government took immediate action, and that the world economy would collapse “within 24 hours.”

To be fair, Paulson started out by trying to tell the truth in his own ham-headed, narcissistic way. His first TARP proposal was a three-page absurdity pulled straight from a Beavis and Butt-Head episode – it was basically Paulson saying, “Can you, like, give me some money?” Sen. Sherrod Brown, a Democrat from Ohio, remembers a call with Paulson and Federal Reserve chairman Ben Bernanke. “We need $700 billion,” they told Brown, “and we need it in three days.” What’s more, the plan stipulated, Paulson could spend the money however he pleased, without review “by any court of law or any administrative agency.”

The White House and leaders of both parties actually agreed to this preposterous document, but it died in the House when 95 Democrats lined up against it. For an all-too-rare moment during the Bush administration, something resembling sanity prevailed in Washington.

So Paulson came up with a more convincing lie. On paper, the Emergency Economic Stabilization Act of 2008 was simple: Treasury would buy $700 billion of troubled mortgages from the banks and then modify them to help struggling homeowners. Section 109 of the act, in fact, specifically empowered the Treasury secretary to “facilitate loan modifications to prevent avoidable foreclosures.” With that promise on the table, wary Democrats finally approved the bailout on October 3rd, 2008. “That provision,” says Barofsky, “is what got the bill passed.”

But within days of passage, the Fed and the Treasury unilaterally decided to abandon the planned purchase of toxic assets in favor of direct injections of billions in cash into companies like Goldman and Citigroup. Overnight, Section 109 was unceremoniously ditched, and what was pitched as a bailout of both banks and homeowners instantly became a bank-only operation – marking the first in a long series of moves in which bailout officials either casually ignored or openly defied their own promises with regard to TARP.

Congress was furious. “We’ve been lied to,” fumed Rep. David Scott, a Democrat from Georgia. Rep. Elijah Cummings, a Democrat from Maryland, raged at transparently douchey TARP administrator (and Goldman banker) Neel Kashkari, calling him a “chump” for the banks. And the anger was bipartisan: Republican senators David Vitter of Louisiana and James Inhofe of Oklahoma were so mad about the unilateral changes and lack of oversight that they sponsored a bill in January 2009 to cancel the remaining $350 billion of TARP.

So what did bailout officials do? They put together a proposal full of even bigger deceptions to get it past Congress a second time. That process began almost exactly four years ago – on January 12th and 15th, 2009 – when Larry Summers, the senior economic adviser to President-elect Barack Obama, sent a pair of letters to Congress. The pudgy, stubby­fingered former World Bank economist, who had been forced out as Harvard president for suggesting that women lack a natural aptitude for math and science, begged legislators to reject Vitter’s bill and leave TARP alone.

In the letters, Summers laid out a five-point plan in which the bailout was pitched as a kind of giant populist program to help ordinary Americans. Obama, Summers vowed, would use the money to stimulate bank lending to put people back to work. He even went so far as to say that banks would be denied funding unless they agreed to “increase lending above baseline levels.” He promised that “tough and transparent conditions” would be imposed on bailout recipients, who would not be allowed to use bailout funds toward “enriching shareholders or executives.” As in the original TARP bill, he pledged that bailout money would be used to aid homeowners in foreclosure. And lastly, he promised that the bailouts would be temporary – with a “plan for exit of government intervention” implemented “as quickly as possible.”

 

Read Full Article Here

corbettreport corbettreport

Published on May 8, 2013

TRANSCRIPT AND SOURCES: http://www.corbettreport.com/?p=7341

As investigative reporter Daniel Hopsicker has demonstrated, the address for the Congress of Chechen International Organizations just happened to be the home address of Graham E. Fuller, formerly Vice Chairman of the Reagan-era CIA’s National Intelligence Council. The relationship between Ruslan and this former top CIA official was not a loose one. Tsarni married Fuller’s daughter in the mid-1990s and lived in Fuller’s home for some time, basing his terror-supporting operation under Fuller’s own roof.

 

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83rd
Legislature

Rep. Krause, Matt

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by: Rep. Krause, Matt

05/07/2013

AUSTIN, TEXAS – Today, Rep. Matt Krause passed H.B. 928 on its third and final reading out of the Texas House of Representatives. H.B. 928 is the first bill Rep. Krause has successfully guided out of the chamber in his first term in office.

“There has been a lot of discussion on firearms and our rights as Americans in the wake of the recent mass killings in Colorado and Connecticut,” said Rep. Matt Krause. “H.B. 928 simply ensures that Texas will frame the discussion on these issues and that we will not aid the federal government in enforcing unnecessarily restrictive or punitive measures designed to keep firearms out of the hands of law-abiding citizens.”

H.B. 928 would establish a new cooperative framework between Texas and the federal government solely as it relates to firearms. The bill declares that no state resources (i.e. law enforcement or any state or local agency) can be utilized for the enforcement of federal firearm regulations that do not also exist in state law. The bill also prohibits state resources from being deputized by the federal government for the express purpose of enforcing federal firearm regulations.

“My bill completely respects the federal government’s right and ability to make and enforce its own laws,” continued Rep. Krause. “Federal law is the supreme law of the land and H.B. 928 does nothing to refute that; however, my bill does make it clear that where federal laws do not align with state laws, Texas will not spend its resources and time enforcing those laws for them. The FBI or ATF is more than welcome to come to Texas and enforce those laws in which the federal government has overstepped the state, but our local and state tax dollars won’t be helping them.”
H.B. 928 instructs our state resources on their conduct while respecting the federal government’s ability and right to create and enforce its own laws.

“We love to call H.B. 928 the ‘Come and Take It’ bill, because it truly encompasses that mentality. Critics who claim that its ‘unconstitutional’ or wrongfully invoke ‘nullification’ are simply scared at how simple it is for a state to lawfully and meaningfully assert its sovereignty on an important issue such as the 2nd Amendment,” said Rep. Matt Krause.

Contact:
Elliott Griffin
(512) 463-0562

Contact Info

Capitol Address:
District Address:
Room E1.424, Capitol Extension
P.O. Box 2910
Austin, TX 78768
(512) 463-0562
(512) 463-2053 Fax

Texas’ Firearm Protection Act: Fact and Fiction

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The Texas House recently passed multiple gun measures designed to protect Texans from undesired, if not unconstitutional, federal gun laws. Two bills related to federal gun laws, HB 1076 and HB 928, are proceeding and at the time of this writing HB 1076 has passed the final vote in the Texas House, 100-47 and HB 928 has passed as well, 102-31. The bills seek to deny state and local resources for enforcement of federal gun laws and in support of this deny funding to state and local officials that do enforce federal gun laws.

Unfortunately, there is a wealth of misinformation published that obscures the legitimacy of this legislation. For instance, the  Dallas Morning News makes numerous claims inconsistent with facts.

Key statements made in this article are incorrect and mislead the reader regarding the content and legitimacy of the bill’s language. Starting in the third paragraph, Ms. Hoppe begins her summary of a “proposal to nullify new federal gun control laws.”. This is in regards to Steve Toth’s HB 1076.

Ms. Hoppe states: “Those gun laws not already on the books in Texas couldn’t be enforced here under the sweeping and unadjudicated argument that they wouldn’t be constitutional under the Second Amendment.”

It is true that the legislation would reject local enforcement of federal laws. That is the point of the legislation in general. In contrast to the implication, it is very workable in practice as state laws would be put in place as needed. This allows the Texas legislature to draft gun laws that are consistent with the Texas Constitution.

However, Ms. Hoppe’s claim that the legislation challenges the constitutionality of any federal law is false. No such argument is being made regarding the Second Amendment. In HB 1076, Texas is merely refusing to participate in the local enforcement of federal gun laws. In fact, the constitutionality of the gun laws is neither challenged nor validated. They simply deny resources and manpower to enforcement. The Constitutionality of this bill from the federal perspective is clear.  In Printz v. U.S., a 1997 Supreme Court case, Scalia rejected federal comandeering of state and local officers regardless of the constitutionality of the federal law. In other words, the federal government cannot, in any case, force states to uphold federal laws.

Ms. Hoppe states: “And for those cities or counties that tried to enforce a new federal gun law, their entities would lose any state grant money.”

True.

Next, Ms. Hoppe states: “Supporters of the bill said they worked with the attorney general’s office in shaping the so-called Firearms Protection Act. But other lawmakers — all of them Democrats — said the bill ignored the constitution, especially the supremacy clause that establishes federal laws override state ones.”

The supremacy clause is irrelevant in this case since there is no challenge to any specific federal gun laws. It’s just not part of the bill. However, it is worth pointing out the the suggestion made here, that federal law always trumps state law, is false as well. The supremacy clause is a not a blank check on power, it only applies to laws made in pursuance of the enumerated powers of the Constitution.  Texas State Representative James White posted this to Facebook regarding the general misinterpretation of the Supremacy Clause:

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Jefferson City, Mo (May 8, 2013) – Tonight, the Missouri State House voted to send Governor Jay Nixon what could arguably be the strongest defense against federal gun control measures in American history.  The vote was 116-38.

HB436, introduced by Representative Doug Funderburk in February, was initially passed by the House in April by a vote of 115-42.  Last week, the State Senate approved the bill with an amendment which did not change any of its nullification aspects. The vote there was 26-6.  The bill then needed one final vote in the house which happened just before 10pm local time this evening.

The votes in both the House and Senate are by a strong veto-proof majority.  Local activist Matt Radcliffe acknowledged as much when he said, “Governor Nixon can do nothing and it will automatically become law July 1st.  Or he can sign it into law. Or he can veto it then his veto will be overridden in the house and it will become law anyway!”

As law, HB436 would nullify virtually every federal gun control measure on the books – or planned for the future.   It reads, in part:

All federal acts, laws, orders, rules, and regulations, whether past, present, or future, which infringe on the people’s right to keep and bear arms as guaranteed by the Second Amendment to the United States Constitution and Article I, Section 23 of the Missouri Constitution shall be invalid in this state, shall not be recognized by this state, shall be specifically rejected by this state, and shall be considered null and void and of no effect in this state.

(2) Such federal acts, laws, orders, rules, and regulations include, but are not limited to:
(a) The provisions of the federal Gun Control Act of 1934;
(b) The provisions of the federal Gun Control Act of 1968;
(c) Any tax, levy, fee, or stamp imposed on firearms, firearm accessories, or ammunition not common to all other goods and services which could have a chilling effect on the purchase or ownership of those items by law-abiding citizens;
(d) Any registering or tracking of firearms, firearm accessories, or ammunition which could have a chilling effect on the purchase or ownership of those items by law-abiding citizens;
(e) Any registering or tracking of the owners of firearms, firearm accessories, or ammunition which could have a chilling effect on the purchase or ownership of those items by law-abiding citizens;
(f) Any act forbidding the possession, ownership, or use or transfer of any type of firearm, firearm accessory, or ammunition by law-abiding citizens; and
(g) Any act ordering the confiscation of firearms, firearm accessories, or ammunition from law-abiding citizens.

The legislation also includes misdemeanor criminal penalties if agents of the federal government attempt to enact gun control measures that violate the Constitution of the United States and State Constitution of Missouri.

The immediate effect of the law would be as follows:

1.  All state and local law enforcement would be required to stop enforcing, or even providing any assistance in enforcing, federal gun control measures – all of them.

2.  Grassroots activists should immediately start pressing local governments – county, city and town – to pass an ordinance which a) states an unwavering dedication to the new law passed, and b) requires all local law enforcement and all government assets to immediately cease in the enforcement of federal gun control measures.

Read Full Article Here
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