Secret Banking Cabal Emerges From AIG Shadows- Bloomberg News

[SilverSurfer_OG]

Yeah i read that part too and to be honest a lot of it went way over my head.

But isnt the point of cold fusion that its a lot safer and more effiecient... anyhoos they may have tapped into something new. Tesla showed us the way forward.

I like this one that is definately genuine (not quite cold fusion but...)

http://www.bbc.co.uk/news/uk-scotland-edinburgh-east-fife-12215386

A state-of-the-art research facility, powered by stored energy from a wind turbine, has been officially opened by the first minister.

Alex Salmond said it was a "hugely exciting" step for the green economy.

The £4.7m Hydrogen Office in Fife is expected to become one of Europe's leading centres for the creation and development of renewable technology.

It uses surplus electricity from a turbine to electrolyze water, creating hydrogen, which is then stored.

The innovative hydrogen and fuel cell system was developed by the Pure Energy Centre in Unst.

As well as generating enough electricity and hydrogen for the heating and lighting of the Hydrogen Office, the turbine is also expected to export sufficient electricity to meet the annual energy demands of the Methil Docks Business Park.

Mr Salmond, who opened the facility, said: "Scotland has a competitive advantage in renewable power sources and the development and deployment of hydrogen and fuel cell technologies across the energy sector can help accelerate the achievement of a truly low carbon economy, supporting skilled jobs in Scotland and helping protect the planet for generations to come."

Alien slugs removed from spinal column??... anythings possible

 

[Greensub]

Yea... a lot of it went over my head too. That's a cool link about the wind turbines and hydrogen storage... I guess that eliminates the need for batteries as a storage device (that would seem to be a good thing)

I tried to watch all 4 parts of the interview... and then I started looking for health information on Ben... he just strikes me as someone who might have suffered some type of brain damage or something (... there's just something off with his speech patterns that raises my suspicions)

Somehow I'm not sure we would want the help of the Asian underground like he's offering... pretty crazy sounding stuff, but I guess you're right... anything is possible (just not too probable)

 

[SilverSurfer_OG]

Yea... a lot of it went over my head too. That's a cool link about the wind turbines and hydrogen storage... I guess that eliminates the need for batteries as a storage device (that would seem to be a good thing)

I tried to watch all 4 parts of the interview... and then I started looking for health information on Ben... he just strikes me as someone who might have suffered some type of brain damage or something (... there's just something off with his speech patterns that raises my suspicions)

Somehow I'm not sure we would want the help of the Asian underground like he's offering... pretty crazy sounding stuff, but I guess you're right... anything is possible (just not too probable)

I know a martial arts expert who studied under a master in Japan. I will ask if there is such a thing as the black and white dragon societies.

I know i would rather party with the Asian underground compared to members of the Federal Reserve!

The hydrogen thing is cool for sure. Little bit more explosive than gasoline though. I have tinkered with a joe cell and made it go bang a few times. Making and burning it in a car without storage would be very awesome!

I think we will know who the liars are before too long.

 

[SpasticGramps]

Do you have a link to a good definition of sovereign write down? I'm sure there's more than one definition, some conflicting.

When I say sovereign write down I mean sovereign default and restructuring of debt such that the bond holders have to take haircuts.

 

[SpasticGramps]

This article is hilarious and just shows what a farce our whole system is. Now that the states and municipalities are bankrupt and about to start defaulting (if they can) on their debt. The FED is going to implement an "accounting tweak" to maintain the appearance of solvency. Sounds like Enron to me. Too bad I can't just make up "accounting tricks" to not pay my taxes. It's an insult to ethics and justice that we have to sit idly watch the FED cook the books.

Accounting Tweak Could Save Fed From Losses CNBC

Concerns that the Federal Reserve could suffer losses on its massive bond holdings may have driven the central bank to adopt a little-noticed accounting change with huge implications: it makes insolvency much less likely.

The significant shift was tucked quietly into the Fed's weekly report on its balance sheet and phrased in such technical terms that it was not even reported by financial media when originally announced on Jan. 6.

But the new rules have slowly begun to catch the attention of market analysts. Many are at once surprised that the Fed can set its own guidelines, and also relieved that the remote but dangerous possibility that the world's most powerful central bank might need to ask the U.S. Treasury or its member banks for money is now more likely to be averted.

"Could the Fed go broke? The answer to this question was 'Yes,' but is now 'No,'" said Raymond Stone, managing director at Stone & McCarthy in Princeton, New Jersey. "An accounting methodology change at the central bank will allow the Fed to incur losses, even substantial losses, without eroding its capital."

I'd rather laugh than cry. Another example of making the rules as we go along. We're broke, but we are going to cook the books and everything is going to be OK.

And yes we are broke. Let the Muni madness begin.

Warning From S&P on Munis

Downgrades of bonds issued by state and local governments could increase this year, according to a report to be issued Monday by credit-rating agency Standard & Poor's.

The $2.9 trillion municipal-bond market has been thrown into tumult in recent months, in part because of growing fears that some state and local governments will default on their debt. Investors have pulled out record amounts from muni-bond mutual funds, while the yields on muni bonds, which move inversely to price, have hit their ...

JPMorgan CEO Warns of Muni Defaults

NEW YORK (TheStreet) - JPMorgan Chase (JPM_) CEO Jamie Dimon sent more shivers through the municipal bond markets this week, indicating that more troubled cities may default on their debts.

"There have been six or seven municipal bankruptcies already," Dimon said on Tuesday at an annual health-care conference sponsored by JPMorgan in San Francisco. "I think unfortunately you will see more."
He added that: "If you are an investor in municipals you should be very, very careful."
Fears have risen in recent months about defaults in the municipal-bond market, as states, cities and towns face huge budget gaps. Unemployment and the economic slowdown have left them with less tax revenue, forcing big cuts in service or tax hikes to make ends meet. California, New Jersey and Illinois are among the states with big budget issues, while Harrisburg, Penn., and Detroit are among the troubled cities. Lots of cities are expected to be unable to meet obligations if they can't tighten their belts within the next few months.
Dimon isn't the first financial big-wig to cite concern about the municipal bond market. But as head of one of the largest banks in the country warning about additional defaults, his comments carry weight.

 

[Greensub]

Missed your last post gramps... I've been warning my mom about bonds for awhile now, I don't totally understand how bonds work, but I've been hearing a lot about them the last couple months.

Anyways... I thought the report from the FCIC on the financial crises was a good thing to bring up in this thread...

Financial Crisis Was Avoidable, FCIC Report Says

January 27, 2011 12:39 PM
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ABC News’ Arlette Saenz reports: The financial crisis was avoidable, and government regulators and financial corporations missed key warning signs, which could have staved off the crisis, according to the first official government report on the causes of the financial crisis released by the Financial Crisis Inquiry Commission.
“This financial crisis could have been avoided. Let us be clear. This calamity was the result of human action, inaction and misjudgment, not of mother nature or computer models gone haywire.” chairman Phil Angelides said. “The captains of finance and the public stewards of our financial system ignored warnings and importantly failed to question and understand and to manage the evolving risks in a financial system that is so essential to the well being of our country. Theirs was a big miss, not a stumble.”
The FCIC report comes six months after Congress implemented regulatory legislation to respond to the crisis before the commission was able to conclude its investigation.
“I don’t think we chose to take our work and shape it for Dodd-Frank at all,” commissioner John Thompson said. “Our task was to identify the causes of the financial crisis, not necessarily to fit our investigation into a piece of legislation that might have evolved, so it was more circumstance that legislation evolved during the same period of time that we were doing our investigation.”
Commission members hope the report will act as a “guidepost” for the future.
The report assigns blame for the financial meltdown across the financial spectrum from government regulators to Wall Street executives who allowed risky behavior to occur.
The FCIC concluded the crisis stemmed from widespread failures in financial regulation; dramatic breakdowns in corporate governance and risk management; a government ill-prepared to handle the financial crisis; corporation’s adoptions of risky trading and borrowing practices; and a breach of accountability and ethics.
According to the report, government regulators and corporations missed key warning signs ranging from an influx in risky subprime lending and securitization and growth in financial firms’ trading activities to a steady rise in housing prices and the adoption of predatory lending practices. The report points to the Federal Reserve’s inability to stem the toxic flow of mortgages as a prime example of a missed warning sign, arguing the Fed ignored its ability and responsibility to strengthen mortgage-lending standards.
The 633-page report details the lead-up to the financial crisis, the boom and bust of the mortgage industry, the demise of major financial institutions, such as Bear Sterns, Lehman Brothers and AIG, and the aftermath of the crisis, which has left the economy struggling to recover from a severe recession.
The commission is obligated by Congress to refer any potential violations they discovered over the course of the investigation to the appropriate authorities, and Angelides said they did uphold this obligation and referred potential violations to the authorities. He declined to comment on how many or what kinds of violations were uncovered.

http://blogs.abcnews.com/thenote/2011/01/financial-crisis-was-avoidable-fcic-report-says.html


Info is a little sparse yet as it just came out today... Apparently most of the commission agreed on many reason's for the crises... although there were two dissenting opinions (republican I believe)...

In response to the majority's conclusions, four right-leaning panel members came up with two different dissents. One laid all the blame on housing finance policy while the other dissent blamed 10 different factors, saying it couldn't blame just one thing and it couldn't blame everything either.

http://www.thestreet.com/story/10987579/1/who-doesnt-fcic-report-blame-you.html?cm_ven=GOOGLEN


I'm sure we'll hear more about it in the next days... they did place a portion of the blame on the FED (well... the majority conclusion did)

 

[SpasticGramps]

Wristslaps abound I'm sure.

 

[TruthOrLie]

According to my jeweler the Indian and Chinese economies are booming, bringing 10-20% of people out of poverty and into middle class in those societies.

Gold is central to core philosophies and traditions in these two countries.

When the bride becomes engaged for marriage, she is showered with gifts of gold. Its tradition.

HUGE demand for gold in these booming economies. He says last year he predicted gold would be at what it is today and next year he says it will be 2000+ per oz.

Buy your gold bricks while you can.

We don't even know how to properly print Benjamins anymore.

 

[SpasticGramps]

Bloomberg is reporting that the key causes of the revolution in Tunisia and now Egypt are......

1. Corruption
2. High unemployment (~10% in Egypt)
3. Rising food prices (inflation)

Sound familiar? Kind of sounds like here (the US).

Looks like the third world isn't happy with our exporting inflation through the devaluation of the dollar (the reserve currency). And Uncle Bernanke isn't going to stop anytime soon. Could this be the beginning of the global revolution? From Europe to the Middle East the proles of the world are tiring of getting raped and pillaged by our failed institutions. This will happen here sooner rather than later IMO. The people of the world will not stand for tyranny and theft.

 

[robbiedublu]

Bloomberg is reporting that the key causes of the revolution in Tunisia and now Egypt are......

1. Corruption
2. High unemployment (~10% in Egypt)
3. Rising food prices (inflation)

Sound familiar? Kind of sounds like here (the US).

Looks like the third world isn't happy with our exporting inflation through the devaluation of the dollar (the reserve currency). And Uncle Bernanke isn't going to stop anytime soon. Could this be the beginning of the global revolution? From Europe to the Middle East the proles of the world are tiring of getting raped and pillaged by our failed institutions. This will happen here sooner rather than later IMO. The people of the world will not stand for tyranny and theft.

No worries bro. I'm gonna smoke a j and I have american idol on the DVR.

 

[daddy fingaz]

Bloomberg is reporting that the key causes of the revolution in Tunisia and now Egypt are......

1. Corruption
2. High unemployment (~10% in Egypt)
3. Rising food prices (inflation)

Sound familiar? Kind of sounds like here (the US).

Looks like the third world isn't happy with our exporting inflation through the devaluation of the dollar (the reserve currency). And Uncle Bernanke isn't going to stop anytime soon. Could this be the beginning of the global revolution? From Europe to the Middle East the proles of the world are tiring of getting raped and pillaged by our failed institutions. This will happen here sooner rather than later IMO. The people of the world will not stand for tyranny and theft.

...Things dont quite seem to be adding up over there, Murabak seemed to have western backing, but then it seems America has been secretly backing the rebels..

http://www.telegraph.co.uk/news/wor...acking-for-rebel-leaders-behind-uprising.html

...the main opposition to murabak appear to be the 'Islamist' Muslim brotherhood, who also could well be CIA infiltrated..from wiki...

Miles Axe Copeland, Jr. -a prominent U.S. Central Intelligence Agency (CIA) operative who was one of the founding members of the Office of Strategic Services (OSS) under William Donovan- divulges the confessions of numerous members of the Muslim brotherhood that resulted from the harsh interrogations done against them by Egyptian president Gamal Abdel Nasser, for their alleged involvement in the assassination attempt made against Nasser (an assassination attempt that many believe was staged by Nasser himself [84]), which revealed that the Muslim Brotherhood was merely a "guild" that fulfilled the goals of western interests: "Nor was that all. Sound beatings of the Moslem Brotherhood organizers who had been arrested revealed that the organization had been thoroughly penetrated, at the top, by the British, American, French and Soviet intelligence services, any one of which could either make active use of it or blow it up, whichever best suited its purposes. Important lesson: fanaticism is no insurance against corruption; indeed, the two are highly compatible."

...I wonder what could be the agenda here !?

 

[TruthOrLie]

that has always been the strategy. support both sides in a conflict. divide and conquer

 

[SilverSurfer_OG]

Perhaps they wish to see the chaos travel to Iran.

Order out of chaos is their motto.

 

[daddy fingaz]

What ever their game is, its a dangerous one!

 

[robbiedublu]

Protests spreading to Yemen, Jordan and KSA. Is the shit really gonna hit the fan finally?

 

[SpasticGramps]

Here's some video of the Saudi Arabia protests.
Protests Spread To Saudi Arabia

Also, Kuwait is giving it's people free money and free food to keep them quite. Inflation is a real bitch.
Kuwaiti ruler grants $4 bn, free food to citizens

KUWAIT CITY (AFP) – Kuwait's Emir Sheikh Sabah al-Ahmad al-Sabah on Monday ordered the distribution of $4 billion and free food for 14 months to citizens as the oil-rich emirate prepares to mark national occasions.

Each of the 1.12 million native citizens will get 1,000 dinars ($3,572) in cash as well as free essential food items until March 31, 2012, the KUNA news agency cited state minister for cabinet affairs Rudhan al-Rudhan as saying.

The Gulf state, whose financial assets top $300 billion, will next month mark the 50th anniversary of independence, 20th anniversary of liberation from Iraqi occupation and the fifth anniversary of the emir's ascendance to power.

The announcement was made following an overnight meeting of the cabinet. The 2.4 million foreign residents of Kuwait are excluded from the grant and the free food.

Inflation in Kuwait soared to 5.9 percent in November, the highest in 20 months on the back of high food prices which rose by 12.3 percent.

LOL. How long do you think that's going to last? Sustainable global recovery my ass. Benny is going to help bring the world to it's knees.

I don't know if this is the beginning of the SHTF, but it's definitely starting to stink. Middle East destabilization could very well be like the Balkan crisis.

 

[SpasticGramps]

An article by Micheal Krieger. This is not some tin foil dude living in the woods eating peanut butter. He was a macro-analyst at Bernstein before opening his own hedge fund KAM LP. Like I've mentioned before. These are the people who are going to see what's coming first. They've spent their whole lives in the market.

Warning.. It's nothing pretty.

Mike Krieger On The Death Of Globalization, The Death Of Currency And The Death Spiral

Globalization is Dead

I debated whether or not to write today. To be completely honest I feel as if I have said as much as I can and don’t want to start sounding like a broken record. That said, we have clearly entered the next stage in this tragic circus called the global monetary and financial system death spiral. The final stage comes when the system consumes itself as a result of its refusal to reform and we are there now. The fact that most people are completely unaware of it or have such strong “normalcy bias” they can’t see what is directly in front of their faces is immaterial. It is here, it is irreversible, and it will unleash a cyclone of chaos and confusion that will leave many literally suspended in disbelief as the entire false paradigm most of humanity has lived under for their entire existence is washed away forever.

Last week, I wrote about what is happening in Egypt and what it means. The key point I want to emphasize is that there is no going back from where we are. The notion of stocking up on the limited food and resources available today is no longer theoretical for governments it is a matter of survival. While many wake up in cold sweats with the memories of 2008’s commodity crash and the concurrent U.S. dollar rally fresh in their minds, these nightmares are misplaced. The U.S. dollar has been hyper-inflated since 2008 and the only thing that has kept commodities under wraps has been the absence of a sudden and violent mobilization of those dollars into real goods. Since so many of these dollars are sitting at the central banks of governments around the world, they key was always what would spark governments to mobilize those reverses. The spark has been food supply shocks and revolution at the periphery of the American empire. The gun is cocked, the bullets are cold and the heretofore benign tumor that we call the dollar will puke its malignancy all over the world at once in desperate attempts to own something that will have value in the next monetary system. The days of governments playing nice with one another is long over. This is the survival stage and every decision that is made from officials from here on out will be entirely self-serving. You want to go long protectionism. Globalization is dead.

So now I want to discuss the Korean Won. For a very long time I have maintained that we would know we are at the big turning point when the Asia currencies start to properly break out versus the U.S. dollar. Asian central banks and many others have been resisting a major appreciation of their currencies for two major reasons. First, their entire economies have been based on the export to the West model. Although this makes no sense any longer as they are the creditors and those in the West are the debtors, old habits are hard to break. Secondly, China has refused to budge in any meaningful way and so the other nations don’t want to give China a free ride. If China was forced to appreciate in a big way all the other Asian nations would immediately follow suit. I always like to look at this Won-Dollar cross since South Korea is one of those exporting nations that imports virtually all of its resources. So as resource prices surge and export prices do not keep up the terms of trade start going against them hard. One option to fight this that has been resisted is a strengthening currency. I have always said at some point they will be forced to bite the bullet. As you can see from the chart below the Won has recently strengthened considerably and is close to some serious resistance (the chart is inverted).

Korean Won vs. Dollar

It’s not just the Koren Won though, take a look at the chart below of the Dollar versus Asian currencies Index, Bloomberg ticker ADXY. This looks like it is about to bust out. The dollar is completely collapsing and nobody is knows it! Sadly, many of the allocators of capital in this world are among the most brainwashed people on the planet. No guts, no imagination and no ability to see outside of the box. I don’t feel bad about what is coming to them and their reputations but I feel extreme sadness for the fate that awaits their clients.

JP Morgan Asia Dollar Index

Crimes Against Humanity

I believe that many of the executives of the major financial institutions on this planet and their puppets in government and central banking from earlier this decade and into today have committed and continue to commit crimes against humanity. Their crimes are subtle and hard for most to understand. As Keynes quoted Lenin to have said:

Lenin is said to have declared that the best way to destroy the capitalist system was to debauch the currency. By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens. By this method they not only confiscate, but they confiscate arbitrarily; and, while the process impoverishes many, it actually enriches some. The sight of this arbitrary rearrangement of riches strikes not only at security but [also] at confidence in the equity of the existing distribution of wealth.

Those to whom the system brings windfalls, beyond their deserts and even beyond their expectations or desires, become "profiteers," who are the object of the hatred of the bourgeoisie, whom the inflationism has impoverished, not less than of the proletariat. As the inflation proceeds and the real value of the currency fluctuates wildly from month to month, all permanent relations between debtors and creditors, which form the ultimate foundation of capitalism, become so utterly disordered as to be almost meaningless; and the process of wealth-getting degenerates into a gamble and a lottery.

The subtleties of their crimes do not make the perpetrators any less guilty nor the consequences any less severe. That said, we must be careful and deliberate as this thing plays out to not let our passions get out of hand as they have in so many similar circumstances in world history. The next stage coming from the corrupt “leaders” in place will be a crackdown on commodity “speculators” as governments try to take the moral high ground like the bunch of disingenuous crooks many of them are. This will potentially push people out of futures and into physical precious metals and these will move to heights completely incomprehensible to most.

For all those out there whether in government, financial institutions, or elsewhere that are “playing along” and making fortunes at the expense of their fellow humans I do not know how you look at yourselves in the mirror in the morning. You may look and think you are master of the universe but no one else sees you that way. The world sees you as the greedy little pigs that you are and the universe has ways of dealing with this kind of karma.

 

[Greensub]

Fascinating as always... Here's to hoping he's wrong and it's not too late.

on a side note... did you read the Housing Armageddon piece that was linked to on that page as well? I know someone who really has their finger on the pulse of the housing market in so-cal, I need to talk to them more about that and get they're opinion. I know they said their were major problems years ago but I haven't spoken with them about it since.

I also know an CPA that specializes in forensic accounting... I'm gonna ask them about quantitative easing as well and see what they say. Should be interesting.

 

[robbiedublu]

I know they said their were major problems years ago but I haven't spoken with them about it since.

If he doesn't tell you that there are even worse problems now then he's a liar, a fool, or trying to sell you something.

 

[turbolaser4528]

If he doesn't tell you that there are even worse problems now then he's a liar, a fool, or trying to sell you something.

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