Archive for November 26, 2011

FOIA lawsuit reveals FBI collecting biometric information for massive interagency database

“Big Brother is on the march in the United States and as I have previously shown, once one delves into the depths of this system it is nothing short of astounding to the point where Orwell wouldn’t even believe it was possible.

Previously my articles have focused mostly on the Department of Homeland Security’s role in this and how their programs are criminalizing Americans who have done absolutely nothing wrong while eroding our freedoms and liberties to a dangerous degree.

However, thanks to a Freedom of Information Act (FOIA) lawsuit filed by the Center for Constitutional Rights along with the National Day Labor Organizing Network and the Benjamin Cardozo Immigrant Justice Clinic, it has now emerged that the Federal Bureau of Investigation (FBI) is an equally large player in the high-tech police state in which we find ourselves.”

Via Activist Post

The Russian Bear Is Back, The Soviet Union Is Being Revived And The Cold War Is Not Over

“If you believe that the United States is the “sole superpower” in the world, then you really need to read the rest of this article. Most Americans have very little idea what is actually going on in the rest of the world and how the global balance of power is shifting. For example, can you name the country that is the number one oil producer in the world, the number one oil exporter in the world, the number one exporter of natural gas in the world and that also has the second most powerful military in the entire world? In case you need a hint, it is not Saudi Arabia, it is not China and it is not the United States. The correct answer is Russia. The Russian Bear is back in a big way. Did you know that Russia is rapidly becoming one of the top suppliers of oil to the United States? Russia has vast natural resources, a national debt that is very low (ratio of publicly held debt to GDP is less than 10%) and an economy that has boomed over the past decade. Russia is busy flexing its muscles in many different ways. For example, many are pointing out that the “Eurasian economic union” that Russia is putting together is a significant move in the direction of a revival of the Soviet Union. Russia is also rapidly modernizing its military and developing very powerful new weapons systems. Most Americans believe that the Cold War is over and that Russia is a toothless bear that no longer represents a threat. It is difficult to find words to describe how wrong that assessment of the situation is.”

Via End of the American Dream

Categories: Uncategorized

Bankers Have Seized Europe: Goldman Sachs Has Taken Over

November 26, 2011 2 comments

“On November 25, two days after a failed German government bond auction in which Germany was unable to sell 35% of its offerings of 10-year bonds, the German finance minister, Wolfgang Schaeuble said that Germany might retreat from its demands that the private banks that hold the troubled sovereign debt from Greece, Italy, and Spain must accept part of the cost of their bailout by writing off some of the debt.

The private banks want to avoid any losses either by forcing the Greek, Italian, and Spanish governments to make good on the bonds by imposing extreme austerity on their citizens, or by having the European Central Bank print euros with which to buy the sovereign debt from the private banks. Printing money to make good on debt is contrary to the ECB’s charter and especially frightens Germans, because of the Weimar experience with hyperinflation.”

Via Activist Post

Categories: Uncategorized

Epic Failure: The Supercommittee Was A Super Joke

“Does anyone need any additional evidence that our political system is completely broken? The bipartisan congressional supercommittee that was given two months to come up with at least $1.2 trillion in deficit cuts over the next decade has failed to reach an agreement. It is an epic failure and a national embarrassment. The truth is that they never even came close to an agreement. In fact, as you will read below, the two sides on the panel have been barely even talking to each other. In the end, the supercommittee was a super joke. Meanwhile, the U.S. national debt has passed the 15 trillion dollar mark and we are facing trillion dollar deficits as far as the eye can see. We are heading directly for a national financial disaster, and our “leaders” seem powerless to do anything about it.”

Via The Economic Collapse Blog

Categories: Uncategorized

17 Quotes About The Coming Global Financial Collapse That Will Make Your Hair Stand Up

“Is the world on the verge of another massive global financial collapse? Yes. The western world is drowning in an ocean of debt unlike anything the world has ever seen before, and our financial markets are gigantic casinos that are dependent on huge mountains of risk and leverage remaining very stable. In the end, this house of cards that has been built on a foundation of sand is going to come crashing down in a horrifying manner. Usually in this column I go on and on about why things will soon get much worse. But today I am going to take a bit of a break. Today, I am going to let some of the top financial professionals in the world tell you why things will soon get much worse. Many of the quotes that you are about to read just might make the hair on the back of your neck stand up. Most people out there have no idea what is about to happen. Most people out there are working hard and are busy preparing for the holidays and they are hopeful that the economy will turn around soon. But that is not going to happen. We are heading for another major global financial collapse, and when it happens the U.S. economy is going to get even worse.”

Via The Economic Collapse Blog

Categories: Uncategorized

Did Anyone Really Think the Supercommittee Would Make a Difference?

“The $1.2 billion per year they were supposed to cut was only a drop in the deficit bucket. It would be a tiny bit more difference than, say, a horse urinating in the ocean makes to sea levels. Yet the committee couldn’t even agree on the token amounts. Even as a dog and pony show, this has been a disappointment.

They could have just taken congressman Ron Paul’s advice about military adventurism. They could have wiped out about two-thirds of the deficit right there!

But that’s not politically possible right now. We’re not sure how many Americans, in their heart of hearts, truly believe that we’d be overrun with Islamic fundamentalists if the U.S. government pulled its forces out all the countries it’s currently occupying. But we imagine it’s a lot. Just about every politician aside from Dr. Paul seems to agree”

Via Whiskey and Gunpowder

Categories: Uncategorized

Banks Build Contingency for Breakup of the Euro

“For the growing chorus of observers who fear that a breakup of the euro zone might be at hand, Chancellor Angela Merkel of Germany has a pointed rebuke: It’s never going to happen. “

“But some banks are no longer so sure, especially as the sovereign debt crisis threatened to ensnare Germany itself this week, when investors began to question the nation’s stature as Europe’s main pillar of stability.

On Friday, Standard & Poor’s downgraded Belgium’s credit standing to AA from AA+, saying it might not be able to cut its towering debt load any time soon. Ratings agencies this week cautioned that France could lose its AAA rating if the crisis grew. On Thursday, agencies lowered the ratings of Portugal and Hungary to junk. “

Via NY Times

Categories: Uncategorized

Latest Idiotic Plan: No Losses for Banks or Bondholders because “Losses Undermine Confidence”

November 26, 2011 2 comments

“Euro zone states may ditch plans to impose losses on private bondholders should countries need to restructure their debt under a new bailout fund due to launch in mid-2013, four EU officials told Reuters on Friday.

Commercial banks and insurance companies are still expected to take a hit on their holdings of Greek sovereign bonds as part of the second bailout package being finalized for Athens.

But clauses relating to PSI in the statutes of the European Stability Mechanism (ESM) – the permanent facility scheduled to start operating from July 2013 – could be withdrawn, with the majority of euro zone states now opposed to them.”

Via MISH’S Global Economic Trend Analysis

Categories: Debt

Why Did The Fed Inject Banks With A Record Amount Of “Other” Cash In The Past Week?

“Update: as some claim, the “other” reserve move may have been sourced to satisfy GSE demands. That would be ideal and would indicate that FR banks are transferring excess reserves to fund GSEs consistently (and would also provide some curious accounting dynamics in the Fed’s balance sheet). However, there is one small glitch. As a reminder, Fannie tapped the Treasury for $7.8 billion in Q3, while the quarterly Freddie Mac injection amounted to $6.0 billion. In other words the combined $13.8 billion cash draw need would almost explain the $88 billion weekly shift… if only it weren’t for the other $74.2 billion. Furthermore, the balance is not explained by debt maturities or other transitory weekly cash needs. In fact, the YTD cumulative delta in the “Other” category is $115 billion, well above what the GSEs have publicly indicated they have received from the Treasury. “

Via Zero Hedge

Barack Obama and Ed Schultz Make GQ’s ’25 Least Influential People Alive’

“President Barack Obama and MSNBC’s Ed Schultz have been named to GQ magazine’s annual list of “The 25 Least Influential People Alive.”

Although not available online yet, TVNewser published a preview Friday:

MSNBC’s Ed Schultz comes in at #3. Ouch.

…Then there pundits like Ed Schultz. Do you watch “The Ed Show” on MSNBC? Of course you don’t. No one does. The only reason people watch “The Ed Show” is they’re working out in a hotel gym and they can’t find a staff member to change the channel to ESPN.


Via News Busters

Categories: Uncategorized

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