"We were hit by inflation, a declining net worth, and increased government debt all at the same time. This wicked combination made the 3rd quarter of 2011 the 2nd worst quarter of the last 50 years. So much for that sustainable recovery theory." Potemkin Village
According to this story, Potemkin, who led the Crimean military campaign, had hollow facades of villages constructed along the desolate banks of the Dnieper River in order to impress the monarch and her entourage with the value of her new conquests, thus enhancing his standing in the empress's eyes
“THERE IS NO MEANS OF AVOIDING THE FINAL COLLAPSE OF A BOOM BROUGHT ABOUT BY CREDIT EXPANSION. THE ALTERNATIVE IS ONLY WHETHER THE CRISIS SHOULD COME SOONER AS A RESULT OF A VOLUNTARY ABANDONMENT OF FURTHER CREDIT EXPANSION, OR LATER AS A FINAL OR TOTAL CATASTROPHE OF THE CURRENCY SYSTEM INVOLVED”
As CEO of MF Global, a primary dealer for Bernanke's US Federal Reserve, $1.2 billion of client money has vanished under his watch. The honorable John Corzine responds:
“I simply do not know where the money is, or why the accounts have not been reconciled,” Show Me the Money Pigman Corzine
MF Global's role as a Primary Dealer for Bernanke's Federal Reserve:
What Does Primary Dealer Mean?
A pre-approved bank, broker/dealer or other financial institution that is able to make business deals with the U.S. Federal Reserve, such as underwriting new government debt. These dealers must meet certain liquidity and quality requirements as well as provide a valuable flow of information to the Fed about the state of the worldwide markets.
Investopedia explains Primary Dealer
These primary dealers, which all bid for government contacts competitively, purchase the majority of Treasuries at auction and then redistribute them to their clients, creating the initial market in the process
your son or daughter joined the US military after the 9/11 attacks, after George Bush had spouted lie after lie in an attempt to link Iraq to the 9/11 attacks and spread disinformation that Iraq planned on using WMD's that didn't exist. Your son or daughter is then killed in the line of a duty. The US Department of Defense assures you that the remains of your son or daughter will be treated with the utmost respect. Then you read this: Remains of at least 274 US soldiers killed in the line of duty are dumped in landfill
What is the purpose of elections or representative governments when foreigners can dictate to a sovereign nation how they should spend their taxpayer's money? What citizen, what kind of man would sit back and allow this to occur? Children are going without meals as the distribution of wealth to the top 1% is larger than any time in history. You can die on your knees sucking banker's cocks or you can die standing, as a man. Which would you choose?
The European commission could be empowered to impose austerity measures on eurozone countries being bailed out, usurping the functions of government in countries such as Greece, Ireland, or Portugal. Bailed-out countries could also be stripped of their voting rights in the EU, under radical proposals being discussed at the highest level in Brussels before this week's crucial EU summit on the sovereign debt crisis. Democracy is Dead
The cabinet agreed to transfer the assets from four of Portugal’s biggest banks to the state balance sheet.
The assets will be used to bridge a gap needed to meet the fiscal deficit target of 5.9pc of GDP set by the terms of the country’s €78bn bail-out from around 10pc in 2010.
"This measure is more than sufficient to meet the budget deficit goal in 2011," said Helder Rosalino, secretary of state for central administration, on Friday.
Portugal said it had informed the EU and IMF and assured them it would be a “one-off”. However the 2010 budget was met by shifting three pension plans from Portugal Telecom on to the public social security system. The liabilities don’t count, yet.
Senior officials have spoken to the Iranian charge in London to urge the Iranian authorities to act with utmost urgency to ensure the situation is brought under control and to protect our diplomatic compound, as they are obliged to do underinternational law
International law only applies to non-white, non-christians? The invasion of Iraq, torture, extreme rendition and cross border attacks that kill Pakistan soldiers are all violations of International law that have led to the death of hundreds of thousands of innocents in the Iraq invasion alone. Where was the outrage from UK foreign officials then? But when twenty non-white, non-christian college students storm an embassy, the international law card is played.
The death rattle of the world's leading democracies grows louder.
They loan you money knowing you can't repay. They increase the vig, then move in and strip you of all your assets with no regard to the damage it will cause.
FRANKFURT (MarketWatch) -- Italy has the assets to overcome the debt crisis and new Prime Minister Mario Monti is moving in the right direction to tackle the country's economic problems, Olli Rehn, European Union commissioner for economic and monetary affairs, told reporters in Rome on Friday. Rehn acknowledged that a sharp rise in bond yields in Italy and across other euro-zone countries was troubling. Italian bond yields jumped on Friday after the country saw borrowing costs rise sharply in auctions of short-term debt
Greece's repeated failure to meet budget targets including for privatization revenues has angered international lenders, raising questions about whether they will continue indefinitely to keep the country afloat with bailout loans. http://www.athensnews.gr/portal/11/50879
Of course it isn't completely fair to categorize all ECB members as mafioso's. Some, like former ECB board member Lorenzo Bini Smaghi, are better classified as terrorists who follow principles voiced by Osama bin Laden:
ECB Executive Board member Lorenzo Bini Smaghi yesterday: "Irish people also elected the governments that regulated the banks as the problems built, Mr Smaghi pointed out. "If taxpayers have the right to share in decision-making, they must also accept the consequences," Mr Smaghi said. I am Lorenzo Bini Laden Smaghi and I am a Financial Terrorist
More than 30,000 people marched in central Athens beating drums, waving red flags and chanting “EU, IMF out!” in the first test of public defiance against technocrat Prime Minister Lucas Papdemos's new government.
http://www.presstv.ir/detail/210679.html
Bob Rubin:
"Tell the middle class they must sacrifice for the betterment of the nation. Tell them they must work longer for less Social Security and pay more in Medicare but receive less. Wrap your self in the flag, talk about Jesus and point your finger at an enemy. Speak of impending doom and incite fear."
Barack Obama:
"Yes Mr. Rubin."
ABOARD AIR FORCE ONE (AP) — President Barack Obama has urged leaders of Congress' supercommittee to press hard for a deal on slashing the deficit — and not look for an end run around a key enforcement mechanism.
2011-11-07
"Why do people laugh at me Mr. President."
"Sometimes people are just mean Timmy. You want to go play some basketball then get an ice cream?"
"Gee Mr. President can we?"
