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finop

we are becoming china circa 1950 and china is becoming america circa 1960.

PLovering

The MSM is the most powerful lobby in the country. And this lobby is controlled by a foreign country, namely, Israel.

That the leading Zionist newspapers, NYT and others, are losing circulation at alarming rates speaks to the awakening of Americans to the traitors in our midst.

HAL LIEBERMAN

So now your rants against Jews have led to a response that we are traitors. Why when you mention Murdoch et al don't you add (who is Christian). As for unions, before I went off to World War 2, I helped organize thousands of workers and as a printer was a union man all my life. It's so easy and so irresponsible to look for scapegoats, when Bush and Cheyny and their crew are responsible for our terrible situation.
Hal Lieberman

Elaine Meinel Supkis

Hal, Murdoch is a FOREIGNER and the NYT is owned by a very powerful Jewish family. As I noted.

The Jewish working class has a long and very honorable history...UNTIL ISRAEL WAS BORN. Then all this wonderful energy has shifted towards stealing stuff from peasants and being very brutal to non-Jewish workers. And the union movement died. I watched it die all my long life.

Facing up to this reality is very painful! Jewish people get angry when I warn everyone that Israel is enabling the Apocalypse. And the plan of this event is for all Jews to die! How horrible! We should be fighting this force.

CHENEY WANTS TO KILL ALL THE JEWS> SO DOES BUSH!!!! But the Zionists overlook this harsh reality because Cheney and Bush and all the many non-Jewish conspirators have bribed the Jews with the offer of the Christians helping the destruction of Muslims!


THIS IS FATAL FOR THE JEWS!!!!


I have said repeatedly, 'Jews are the SERVANTS of the ruling elites. Whenever the ruling elites need to divert the mobs or save themselves, they TOSS THE JEWS TO THE MOBS.'


I find this horrible to talk about but anyone who is Jewish and I am part-Jewish, HAS to think about this. Every time we are lured into getting rich quick by the ruling elites and I AM ALSO RULING ELITE, this is because the real rulers...who are NOT JEWS, hope to use Jews as a shield!

Many a king, duke, lord and emperor has done this over the centuries.

blues

Free trade on steroids here:

((----- Copy & Paste - W/O The Line Breaks -----))

http://news.bbc.co.uk/2/hi/asia-pacific

/7370903.stm

Bear of Little Brain

Oh, dear, Hal. With trepidation I post this quote:

"Rupert's father Sir Keith Murdoch [see below] attained his prominent position in Australian society through a fortuitous marriage to the daughter of a wealthy Jewish family, née Elisabeth Joy Greene. Through his wife's connections, Keith Murdoch was subsequently promoted from reporter to chairman of the British-owned newspaper where he worked. There was enough money to buy himself a knighthood of the British realm, two newspapers in Adelaide, South Australia, and a radio station in a faraway mining town. For some reason, Murdoch has always tried to hide the fact that his pious mother brought him up as a Jew..."

From here (with added detail)

http://www.fpp.co.uk/online/02/05/Murdoch2.html

I acknowledge that the source is not favourably disposed, however… I got to page 7 on Google without finding an obviously pro-Jewish or Israeli site and used what I had.

Jewish lineage is through the mother, I believe. Make of it what you will. I'll try to stick to what I hope are true facts.

Also, Hal, I think Bush and Cheney's "crew" are usually called "Neocons", aren't they? Those loveable guys and gals that have given us the Project for the New American Century. The Iraqis are especially grateful, I imagine. There again, Saddam didn't help when he lobbed a few hopelessly inaccurate scuds westward. Inevitably, the composition of the Neocons is pretty much as expected.

Unfortunately, the world increasingly seems intent on imitating art - tragedy, farce and pantomime. Life before the rabbit-hole was so much simpler.

Ho, hum. Where's my hunny? Hiding in the Canadian Club bottle again!

All the best.

Michael

Elaine,
You've got me shaking my head again. "competition" "power" "dominance" "control" "take over" "destroying our sovereignty" "putting a noose around our necks" "war". The financio-industrialists are happy to hear this kind of nationalistic us-vs-them talk, and if we can throw in Jews vs. non-Jews, so much the better. It's as simple as this: Capital has no nationality, no religion, no race, no culture, any more than Science does. Those who have Capital are Capitalists and they matter. Those who don't have Capital are simply resources (workers and consumers) for the Capitalists. Governments are established by various means for various purposes but always end up under the control of Capitalists (and this is the only "control" that you need to worry about). War serves Capital, environmental destruction serves Capital, low wages (wherever on the planet you need to go this particular decade to get them) serve Capital, Science serves Capital (and yes, Science produces machines for Capital to replace labor, very successfully). Everything and everyone serves Capital. Capitalists are not evil; the vast, vast majority of the people of the world like what Capitalists provide them (jobs and stuff to consume)- at least in the short run, and in country after country Capital is raised to the highest position of power and worshipped like the One True God. The only real "competition" is among Capitalists for who gets the biggest piece of the Pie (also in the short run), and there are oh-so-many ways to use nationalism, religion, etc. etc. to keep the workers and consumers at each other's throats. All the hostility, including that which you promote over trade and currency conflicts, is just support for one set of Capitalists against another set of Capitalists fighting for a bigger piece of the Pie. In the end, the Capitalist fantasy of infinite resources runs up against the Second Law of Thermodynamics, and the whole inflated bubble of the Pie itself starts to shrink. How far are we from that point now? What do you think is going to happen to the workers and consumers when the infinite-resources fantasy they've been sold by the Capitalists is no longer believable by anyone, and everyone's survivability starts to be in question? Perhaps they'll follow precedent and blame it on the people in that other country or of that other religion, and we can all go down together with our hands around each other's throats.

xerxes

Hello Elaine....
I'm a new reader of your blog. You have on more than one occasion recently, mentioned how you believe that Japan is being choked by a raging inflation...One of the links in this latest post was to a publication called "Japanese Current Affairs." In a piece entitled "Why Is The Yen Weak," the author wrote:

"...The writer concludes that in 2008, under a continuing cheap yen, deflation....will continue...."
http://japanaffairs.wordpress.com/2008/02/27/why-is-the-yen-weak/#more-20

Deflation is mentioned, not inflation. Could you elaborate in greater detail your position on why Japan is in the throes of inflation and how it is destroying them, if that is in fact, the case.

Abelian


Elaine,

Awhile ago I brought up the question of the Federal Reserve's balance sheet and the rule that the majority (~94%) of the interest collected by the Reserve supposedly goes back to the Treasury. This amounts to 20-30 Billion dollars. I'm sure that people have been eyeing this for a long time.

I asked what is to keep this going, since it appears to be an agreement of the Board of Governor's, and not law.

Well, hot off the presses:
http://news.yahoo.com/s/nm/20080428/bs_nm/usa_fed_reserves_dc_1

The Fed is considering paying interest to banks for their reserves.

Where will this money come from? It will reduce the money given back to the Treasury.

So, in short, all Banks (not only the Federal Reserve and its owners) will be siphoning off tax dollars on the way to making infinite debt.

Below is a pro argument toward the plan. The author frames the discussion as uncompensated reserves are a tax to banks. Rather than ensuring the banks are solvent, according to the author, tax payers are also supposed to subsidize the banks and their million ( sometimes billionaire) leaders.

" It has long been recognized that uncompensated reserve balances act like a tax on banks and that banks as a result expend scarce resources to avoid holding them. The Fed itself has historically supported legislation to enable it to pay interest on reserve balances (e.g., Kohn 2003), as have economists (e.g., Goodfriend 2002), both for reasons of economic efficiency and to improve the implementation of monetary policy. The traditional argument against interest payment has been that it would reduce the Fed's earnings that are subsequently turned over to the Treasury (Feinman 1993b; Abernathy 2003). The purpose of this paper is to demonstrate the implications of paying interest on reserve balances on the daily operations of both the Fed and the Treasury. While the arguments here-for different reasons-generally are in favor of enabling the Fed to pay interest on reserve balances, more important than the actual payment of such interest is the perspective gained when considering in detail the operations of both in an environment where reserve balances earn interest."


Anthony

All I want to know what will china do with their $1.7T reserve.

With that much money they can play what the japanese did twice as hard. (after they are done buying the entire asia first of course)

abelian

Interesting Read:

http://www.federalreserve.gov/monetarypolicy/0693lead.pdf

and commentary by the head of the Community bankers association wanting their cut from taxpayers:

" the legislation under discussion would benefit the nation’s largest depository institutions while providing little, if any, benefits for most community banks. This has been confirmed by the Federal Reserve. We would urge the Committee to consider options that would benefit community banks that do not maintain reserve balances at the Fed in a commensurate way.

We are aware of Chairman Greenspan’s views that paying interest on reserves will boost reserves and help the Federal Reserve to implement monetary policy, and we believe this is a legitimate concern.

The ICBA stands ready to work with you, Mr. Chairman, on making this legislation more equitable to our nation’s community bankers."

Royal Dutch

Sounds like a Gosbank hack to me. Now comes the flood of warlord capital from global gangsters to BUY seats on their local banks, hmmm, I wonder what they want in return?

Elaine Meinel Supkis

About Japan's totally fake 'depression': I have shown clearly using Bank of Japan's own statistics that the ONLY mechanism they have used to create 'deflation' has been the totally cruel method of DROPPING WAGES. Period.

And today's news is about how Japan is outsourcing manufacturing to cheaper labor destinations just as the US has been doing! This two pronged process is OK with Japan's leaders because they have literally killed off the working class who are now unable to reproduce: having children is impossible if the workers are eating ALL the inflation.

But the inflation in things needed to survive is now so horrible in Japan, it is at red zone levels. The workers might get restive and attack the rulers. This will, like all such events, happen with little warning.

Abelian: you are 100% correct. Dear readers, I am, like all of you, learning things. Figuring out what the hell is going on doesn't come from heaven, it is a group-educational project. A correct analysis means one can predict the future. This is why I make predictions.

I really, really do love to read comments because they teach me a lot. The story of Murdoch's religious background is deliberately murky as it is with all the media owners. This is because the owners want to hide their agenda and desires.

I knew Ted Turner. He was the ONLY media owner, when he ran CNN, that gave me unfettered access. He was very generous and kind, in person, too.

Then he sold his station! I called and said, 'PPPPPLLLLLEEEAAASE don't do this!' He said, 'The Cold War is over! Our work is done! I want to spend the proceeds on my other activities promoting peace.'

Then CNN became a warmongering monster. Gah. Ted thought he could sit on the board of directors with his son and thwart this. But the other guys, most of whom were Jewish, suddenly voted him and his son off the BofD and out the door they were tossed, quite unceremoniously. Do we hear about Ted anymore in the news?

HAHAHA. He is, like me, now officially invisible. The guys playing this hardball game did this to me when my name was still Mrs. LEVY. The knew who I was and considered me a traitor to the tribe. All Jews who talk about these things I talk about are shunned and punished.


Yet, thanks to the internet, we still persist. I know very well that I would be very, very rich today if I didn't tell the truth. My former father-in-law was a publishing executive, for example. But he would NEVER publish a word I wrote. Never. He let me know in no uncertain terms, I was not a member of the family during the majority of my marriage to his eldest son! Only on his death bed, did he relent for he finally had to face the truth when it was much too late.

Ed-M

"Bush and Cheney's "crew" are usually called "Neocons".... Those loveable guys and gals that have given us the Project for the New American Century. The Iraqis are especially grateful, I imagine. There again, Saddam didn't help when he lobbed a few hopelessly inaccurate scuds westward. Inevitably, the composition of the Neocons is pretty much as expected.

But the most IMPORTANT neocons are NOT Jewish! (Cheney, Jeb, Kindasleasy Rice, etc.) This backs up Elaine's contention that when push comes to shove, the non-Jewish elites (or their replacements) will throw the Jews to the mob. This happened in Europe under a very evil German dictator who was favored by the Bushes. Zionist Jews USE that holocaust, even now, to justify their treatment of the Palestinians. But Halliburton is now moving to Dubai! Which means it won't be long til another holocaust occurrs... this time in the Levant.

Elaine Meinel Supkis

Thank you, Ed for understanding. This is so very difficult. The real wolves here are old Norman ruling class.

RobG

Hey, here is someone talking sends on WSJ:

Déjà Vu: The Fed's Interest Rate Dilemma

"Since 2001, and especially since September 2007 – when the Fed started cutting rates in response to credit market issues – excessively easy monetary policy has driven oil and other commodity prices through the roof.

The good news is we've been here before, and we know – well, at least 1980s Fed Chairman Paul Volcker knows – how to get out of this mess. Loose money in the 1960s and 1970s drove up the price of everything. A barrel of oil, which sold for $2.92 in 1965, rose to $40 in 1980."

online.wsj.com/article

GK

Can you please teach us more about the Norman ruling class and how they are organized?

http://en.wikipedia.org/wiki/Normans

Elaine Meinel Supkis

Heh. Well....we hate each other. Normans kill family members in battles over who controls the inheritance, etc. We are infamous for infighting. If you want to know how it is, living with crazed rattlesnakes, read Shakespeare's 'historical' plays or watch 'I, Claudius' for the Roman version of this imperial madness.

How on earth do we survive ourselves? I never can understand this. But survive, we do. Very tenaciously. I suppose it is our darker natures. We really don't like humans so we aren't easily fooled?


I know that I have to form 'humanistic' feelings because I tend towards cynicism. I guess, we like to plot stuff behind the scenes and tend towards piracy.

GK

Very interesting; I have some studying to do.

Do you think that these are the folks that are using long-term control of our money supply to implement globalism as discussed in this article?

Maybe Plan A is globalism, but if it does not work there is Plan B, kill off (Noah's ark style) and restart?

http://www.theinternationalforecaster.com/item.php?topicId=2&articleid=245
http://snipurl.com/26l9p

"For the benefit of our subscribers, we thought at this juncture that it would be a good idea to review some long-term elitist strategies that have been implemented by the Illuminati as part of their evil plan to destroy our economy and our sovereignty for purposes of moving us toward globalism, free trade and a one-world government. Many things are starting to come together as we review what has occurred since Nixon took us totally off the gold standard in 1971. This was the end of our golden era of growth that started shortly after WWII and ended that dreadful day in 1971 when we were sold down the river by the same man who soiled our reputation worldwide with the Watergate scandal. During this golden era, everyone was prospering and making good money, including our vastly growing middle class, but the transnational corporations of the military-industrial complex were especially prosperous. The owners of these huge corporations used their gargantuan profits to power their plans for world government by setting up subversive trusts and foundations, by donating to major universities to gain influence over our youth, by funding their pet projects at these universities to control the path of technology and innovation and most notoriously by purchasing and funding the best politicians and the best enemies that money could buy. This enabled these arrogant sociopaths to run our country from the shadows while our Illuminist-created enemies made their benefactors rich by waging cold wars and hot wars alike to put us in a perpetual struggle for perpetual peace and democracy so that these evil elitists could make perpetual and rapacious profits.


Also during this era of growth and prosperity, inflation was kept very mild, in the 2% to 3% range, in order to support our growth (and yes, those were both official and actual inflation figures from the good old days when we at least got some truth out of our government instead of the non-stop, pathological lying we have been forced to suffer from our reprobate government officials for the past three decades). This mild inflation was the result of our adherence to a watered down version of our original gold standard that kept our money supply in check until Nixon nixed the redemption of dollars held by foreign nations in exchange for our gold, thus completely removing us from the gold standard.


But if you want to create a world economy to pave the way for world government, you need lots and lots of money and credit, and the partial gold standard was making it impossible to sufficiently increase the money supply for this purpose. That is because a lot of those new dollars would have made their way into the dollar Forex reserves of foreigners who, for various reasons such as hedging against the inflation resulting from the increased supply of money, would have attempted to redeem a goodly portion thereof for the only real money, gold, and that would have quickly drained us of our gold reserves over a very short period of time as the elitists discovered from their London Gold Poole debacle in the late 1960's. Their attempt by use of this London Gold Poole to suppress the price of gold to cover up their mishandling of the US and UK economies by flooding the market with bullion (some of which may have come from Fort Knox) resulted in a bank holiday for London banks that had been drained of their gold by voracious demand, thus creating the real potential for a run on the banks.


Based on the foregoing, the elitists reasoned correctly that the removal of the remnants of our gold standard had the potential to create a shortage of gold and the price of gold would then have quickly risen in value as a result, which in turn would have set the inflationary alarm bells off, thus warning of the coming devaluation of the dollar and its potential fall from reserve status. In this manner, without gold backing it, the dollar might have collapsed under the weight of its vast increase in supply to power a world economy, so the elitists had to come up with a reason, other than gold-backing, for people around the world both to want, and to keep up a high demand for, the dollar.

The Illuminati had to make sure that the dollar remained the reserve currency of the world, thus preserving their power, wealth and influence until they were ready to make their big moves toward world government. So, under orders from their Illuminist masters, Kissinger and Nixon took us totally off the gold standard, and instead backed the dollar with oil, which was much more plentiful and which had a far greater overall pool of value that could not be exhausted as quickly as might have occurred with the comparatively tiny gold market. This was done by getting Saudi Arabia to agree to accept only dollars in exchange for their oil. In return, the US agreed to back and provide security for the unpopular and autocratic regimes of the Saudis, and this oil-for-dollars regimen was later adopted by OPEC nations as well, many of whom have pegged their currencies to the dollar.


Immediately after we made this stupid move from gold-backing to oil-backing, the money supply via the Fed and the Treasury exploded in the early 1970's to the very levels of insanity that we are experiencing today, remaining between 8% and 16% until 1985 before being tapered off to zero growth around 1993 after which the money supply exploded again to cover over the real estate debacle and recession of that time and to fund new initiatives for globalization and free trade, such as the WTO, NAFTA and CAFTA. Despite the size of the oil market, the new explosion of dollars being pumped out prodigiously by the Fed to fund the kickoff of free trade, globalization, off-shoring and outsourcing in earnest in the 1970's led to rampant inflation that peaked out around 14% in 1980-1981 (note that we are currently over 12% by 1980 inflation standards and rising) until Paul Volcker put an end to it with double digit interest rates that sent us reeling into an ensuing recession. This rampant increase in money supply meant a devaluation of the dollar and the cheap oil was being paid for with ever-more-debauched dollars. So in 1973, OPEC started an embargo, using the support of western powers for Israel during the Yom Kippur War as an excuse or justification to force prices up, as much to make up for the loss in value of the dollar as for revenge, just as they are doing today, but with a little more diplomacy in lieu of an outright embargo. The whole reason for the Yom Kippur War may have had as much to do with low oil prices as it did with revenge for the 1967 Six Day War. This increase in oil prices actually backfired and was very problematic for OPEC and the elitists because the higher oil prices attracted local oil producers, often referred to as wildcatters, due to the fact that the price of oil had risen above the cost of production for companies working on a smaller scale. These smaller companies could now profitably compete with the foreign oil, and they went after our extraordinarily abundant domestic oil reserves to supply the markets. We have enough oil in Alaska, North Dakota, Montana, Texas, Colorado, Wyoming and the Gulf of Mexico to keep our country flush with oil for many decades without importing a single drop of foreign oil, much of it recoverable for only $16 per barrel.


The reason these local producers were problematic to the elitists was because prior to this development, the Illuminati were able to keep inflation under wraps at home by exporting much of the rampaging supply of debauched dollars overseas in return for foreign oil, as well as for foreign exports of goods, most notably from Japan, which helped create the bubble that destroyed the Japanese economy almost two decades ago. Thus, we quite literally were exporting our inflation to other countries by burgeoning their domestic supply of dollars, and we began doing this all over again since the start of the Clinton Administration via globalization, free trade, off-shoring, outsourcing, trade for foreign oil and illegal immigration. Just ask China and Japan with roughly a trillion each of dollar forex, OPEC countries with hundreds of billions of dollar forex each, and Mexico whose residents receive many billions of dollars every year from illegal Mexican aliens working here in the US. These local oil producers in the 1970's and 1980's were redirecting many of those oil dollars away from the OPEC countries and back into our domestic economy, thus powering inflation at home to rampant levels which also lead indirectly to the S&L crisis of the late 1970's and throughout the 1980's by destroying the value of mortgages held by banks as interest rates started to rise to combat the growing rate of inflation.


So what did the Illuminati do to stop all this domestic oil production from powering inflation? First, Volcker pushed interest rates up into double digits, increasing the cost of loans, which are so necessary in the oil business, thus increasing the cost of production to levels that ruined many smaller concerns. After that, the elitists had their big oil companies and commodities traders drive the price of oil down to below the cost of local production for smaller operators, and even for some of the larger ones for that matter. This ruined the smaller producers who lacked the staying power of the big oil companies. To this day, these smaller producers are afraid to tap our domestic reserves without some kind of guaranty from our government of a floor for oil prices to be set at about $25 per barrel. After peaking at $37 per barrel in 1980, oil dropped to as low as $15 dollars per barrel in 1986 and 1988 and all the way down to $12 per barrel in 1998. This is why, to this day, among various other reasons, much of our domestic oil remains untapped. This is also why many of the drilling and extraction techniques that are finally giving domestic producers access to otherwise tough-to-get oil reserves in recent years were not researched and developed decades ago.


So as you can see, the whole bio-fuel scheme is a total scam to enrich subsidized, elitist bio-fuel producers and to drive up food prices so that large elitist food-related corporations like Monsanto can make filthy rich profits on account of food shortages, subsidies and improper allocations of farmland and food crops while around the world people starve, have food riots and cry out in hunger. Many in our Congress still will not acknowledge their error in approving bio-fuel legislation because they have big political and economic stakes in ethanol and other bio-fuels. These miscreants are an absolute disgrace. Bio-fuels are inefficient, are damaging to engines and are totally unnecessary. Give the small guys a floor of $25 per barrel and we'll have all the oil we need for decades without importing a single drop of foreign oil. The fact that this did not happen decades ago tells you all you need to know about where your current and past Congresses and Presidential Administrations stand or have stood. They are traitors and cretins of the highest order with precious few exceptions. They are nothing but a pathetic bunch of conniving, elitist bootlickers. The incumbents must all be voted out of office, except for Ron Paul, in order to put a stop to this madness. Otherwise, you will be forced, like our Founding Fathers, to do it the hard way. Prices for food and fuel will not come down unless you, the US citizen, demand in no uncertain terms that your government make them come down.


The elitists had yet another problem with their scheme to institute world government. They had to cover up the extensive damage being done to our economy by globalization, free trade, off-shoring, outsourcing and illegal immigration, all of which they used to break the backs of the unions so they could lower their labor and production costs and increase their profits by moving offshore and utilizing slave labor. They had to cover up our negative GDP which has been that way on average since 1990 despite what official statistics say, as well as problems with rampant inflation and unemployment, all direct outgrowths of their globalization and free trade efforts. The solution was a many pronged approach and has backfired in their faces.
First, they started making up outright lies about official economic statistics, which we refer to as "hedonics." This system of outright lying, which has always been a problem to some extent, has accelerated since the end of the Reagan Administration. As an example, official inflation is currently one third of actual inflation. Not a single shred of truth escapes from Washington, D.C. Next, using the 1987 Market Crash that they caused as their excuse, the Illuminati had President Reagan issue an Executive Order creating the President's Working Group on Financial Markets, the purpose for which is restore order to markets in times of emergency. Instead, they use this cabal to rig markets around the world on a 24/7 basis, which is totally and completely illegal. That is why Bernanke always claims that this group meets only informally on occasion for discussions or brain-storming on problems as they arise. He knows darn well that their nefarious activities are totally illegal and criminal in nature. But what does he care, as substantial evidence indicates that he may have conspired with JP Morgan, the SEC, the Treasury and other Federal Reserve officers to defraud Bear Stearns stockholders and employees as well as American taxpayers out of billions of dollars, not to mention profits made on insider trading on puts and shorts placed on Bear Stearns stock under circumstances that could not possibly have been more obvious. The PWG, also referred to as the Plunge Protection Team, or PPT, covers up market damage, or causes market damage, as the case may be, to cover up the impact of Illuminist schemes on the overall economy and on financial markets. Items go up that should be going down, and items go down that should be going up. When you see that, and it is obvious for anyone with even a rudimentary knowledge of markets, that is the PPT in action ripping off the public with insider trading and market manipulation to cover up the extensive damage done by the Illuminati to our economy and financial system as described above.


Another cover-up method is the use of the money supply, controlled by the Fed, to create asset bubbles to make everyone feel wealthy when in fact they are being pauperized. The dot.com scam of worthless stocks, the false, speculative real estate bubble powered by fraud and the subprime scam of worthless, falsely-rated derivatives are perfect examples. So is hyperinflation from an out-of-control money supply as the middle class is bled dry by the elitists courtesy of the nongovernmental, privately owned Fed. And to cover up the negative GDP, they repealed Glass-Steagall with the passage of the Gramm-Leach-Bliley Act in 1999 to power up the financial industry with a profligate money supply from the Fed so banks could screw dupe clients with incestuous financial subsidiary arrangements and make false profits in fees, commissions and spreads creating financial instruments such as toxic waste that is worthless because there are no markets for securitizations of fraud-laden assets and credit default swaps and interest rate swaps with hundreds of trillions in notional principal that are worthless because collateral to secure counterparty liability under these derivatives is almost nonexistent. But boy, those fees and commissions sure drove the financial sector from 4% of GDP to 8% of GDP, thereby covering over the negative GDP with fees and commissions for producing worthless assets that now threaten the worldwide financial system and that have added nothing of any real or lasting value to our economy. This is where they really blew it. Most large banks are now insolvent as a direct result of these many fraudulent schemes that have bled all transparency, trust and confidence from the markets, resulting in a credit-crunch that will not go away but which worsens instead with each passing day. And with the Fed now considering a pause, they are about to get even more insolvent as their spreads decrease and their bonds get creamed from the loss of anticipation of further rate cuts, not to mention accelerating loan defaults in all categories as interest rates work their way back up.


The elitists are now faced with wars they are losing badly and that will bankrupt our country. They are faced with food riots around the globe, which will not endear them to anyone. They have created a ludicrous national debt via profligate government spending with an equally ludicrous trade deficit to match as our country has been transformed in a matter of a few decades from the world's greatest creditor nation to the world's greatest debtor nation. They have created tens of trillions in entitlements that cannot possibly be paid without reducing benefits or raising taxes. They have driven oil to levels that will decimate the entire world economy, including their own companies, despite abundant domestic reserves of oil. They have caused bubble after bubble that have each popped and now they are out of assets to falsely inflate, so people are starting to realize that they have been had and want to do something about it, which may well lead to revolution. They have created hundreds of trillions in derivatives that no one understands and that have virtually no collateralization, threatening the entire world financial system. They have ruined all confidence and trust in the financial system with scheme after fraudulent scheme, to the point where banks no longer want to, or are able to, be banks, creating a credit-crunch that worsens and threatens to annihilate bank capital at an ever-increasing pace. They have inflated the people of our country out of their wealth, and these hapless, beggared citizens have nothing left to spend to drive the US economy which is now doomed to a catastrophic failure that will lead to a hyperinflationary recession followed by a deflationary depression the likes of which has never been seen before in the annals of US history. They have destroyed the real estate industry and have put millions of people, both US citizens and illegal aliens alike, out of work, further exacerbating the faltering economy. They have plans to nationalize all the financial losses from the fraud and profligacy of Wall Street which will turn us into the next Weimar Republic. After all that, they have the nerve, the unmitigated gall, to suggest putting the Fed in charge of the entire US financial system when the Fed is the root cause of virtually every problem we have with our financial system. While all this transpires, the President and our Congress stand by picking their noses. The older elitists got overly anxious and tried to do too much too fast because they wanted to see their plans succeed during their lifetimes. Their own pride and impatience has been their downfall, and now they are about to see their plans ruined for decades instead by some of the most bumbling, clueless and arrogant henchmen we could imagine, if they are not sooner torn to shreds by the angry, fuming, broke, hungry masses. We hope they enjoy the monstrosity they have created. It will eat them alive. They wanted to create order out of chaos, but all they will get is the latter. "

Elaine Meinel Supkis

GK, the mess we are in is NOT a 'conspiracy' like that.

It is the result of imperialism, not any one group of people. BUT imperialists are obvious such as the Queen of England and the army of former nobles who still infest Europe and America after world wars and revolutions. They ride at the top.

But the forces of imperialism goes back to the very first civilizations and cities! Understanding this force is very vital! Otherwise, history becomes hash.

American commentators are hopelessly unable to understand empires due to a lifetime of pure propaganda. Whenever anyone does discuss 'imperialism' they are called 'nuts.' But ALL empires rise the same way and ALL die the same way. All of them.

The Chinese have the longest string of empires rising and falling so they have accepted the idea of rising and falling empires. They hope, like our ancestors who launched the American Empire, to avoid this using their brains. But we didn't avoid it nor shall they!

ALL EMPIRES GO BANKRUPT TRYING TO RULE THE WORLD. They can't help it. It is their nature to do this. All they can hope is, their rule lasts for more than 100 years before bankruptcy and rot sets in.

GK

So then what do you think about the new book Superclass? 6000 individuals that cross all national empire boundaries.

http://nationalexpositor.com/News/1205.html

A new book written by a leading globalist luminary provides a blueprint for how 6,000 elitists plan to completely end national sovereignty, impose a system of global governance, and how they will deal with an international network of people that resist their agenda.

Superclass: The Global Power Elite and the World They Are Making is a manifesto for how the elite plan to shape the course of the planet and impose a new world order while combating the inevitable "global network of antiglobalists" who will rise up against it.

The author of the book, David J. Rothkopf, is a visiting scholar at the Carnegie Endowment for International Peace and has previously served as the Deputy Undersecretary of Commerce for International Trade during the administration of Bill Clinton before he became managing director of Kissinger and Associates in January 1996.

A Salon.com review alarmingly details the brazen premise of Rothkopf's book - a global elite now run the planet and have usurped the power of national governments while ensuring laws constrained by borders are all but obsolete.

"Each one of them is one in a million. They number six thousand on a planet of six billion. They run our governments, our largest corporations, the powerhouses of international finance, the media, world religions, and, from the shadows, the world’s most dangerous criminal and terrorist organizations. They are the global superclass, and they are shaping the history of our time," states the promo for the book.

The threadbare notion that Rothkopf's book is a critical and impartial investigation of the global elite can be rejected out of hand just by looking at the author's biography - in reality he is a cherished insider.

Throughout the book Rothkopf fawns over the global elite of which he too is a member. The Salon review notes his "palpable thrill" at "recognizing CEOs, oil company executives and Harvard professors on his way to a fondue restaurant," in the globalist enclave of Davos, Switzerland and his obsession with listing every banal "achievement" of each elitist he speaks with.

According to the article, the kind of elitist celebrated in Rothkopf's book "have little need for national loyalty, view national boundaries as obstacles that thankfully are vanishing, and see national governments as residues from the past whose only useful function is to facilitate the elite's global operations."

Rothkopf himself concurs that laws and regulations defined by borders and nation states are obsolete and need to be replaced not by a global government but by "global governance". The fact that the ultimate goals of the two - the total elimination of national sovereignty - are essentially identical is not lost on globalists who know that a more subtle imposition of centralized control needs to be enacted in order to con the serfs into sacrificing their identity. A sharply defined "world government" is too visceral a concept and would attract fierce opposition, therefore a method of forcing countries to adopt harmonized policies of "global governance" is the new approach that globalists have embarked on.

Rothkopf ominously expresses the plan to mandate the "Registration and management of Internet domain names (via a collection of organizations)" under a global umbrella, which the informed will recognize as a bastardized version of Internet 2, where individuals require government permits to operate a website under tight regulation.

The article concedes that, "Rational as it may sound to set up such systems, they just aren't directly answerable to the populace at large -- they're undemocratic," which Rothkopf admits will give rise to rebellions and pave the way for more people like Venezuela's Hugo Chavez, who he labels as being part of "the global network of antiglobalists," and a man who has "made political theater out of taunting and thwarting the global elite."

Rothkopf's answer to the inevitable antagonism that will be directed towards the globalists as their agenda unfolds is to hoodwink the commoners into thinking they have influence in the new world order that is being built around them - a method otherwise known as the Delphi Technique, which is universally recognized as an underhanded and unethical ploy of achieving consensus through deception.

According to Rothkopf the, "Superclass ought to be smart enough to foresee any such crisis and head it off by doing more to make the currently disenfranchised feel like "stakeholders" in the new global order."

The fact that the same elitists Rothkopf affords such sycophantic adulation are also personally responsible for the policies that result in the slaughter of untold millions and the misery of countless others across the globe matters little to Rothkopf, who also has no qualms about including Osama Bin Laden in a group of 6,000 "global elite" who now control the world and "whose connections to each other have become more significant than their ties to their home nations and governments."

Superclass maintains that the elite, who mainly comprise "older males of European descent who graduated from prestigious Western colleges," are "an improvement on those of the past," but this rings hollow when we consider the state of the planet that they have crafted.

A million-plus dead Iraqis since 2003, a global economy in chaos and individual freedom under attack in every corner of the world suggests the much-vaunted global elite - worshipped in Rothkopf's book as saviors of the Earth - are more accurately parasites and a cancer upon humanity.

Watch Rothkopf give a lecture on the power of the global elite. He identifies Bohemian Grove as a key meeting venue for the globalists. Decide for yourself whether he is a fawning sycophant or an objective critic. Rothkopf creates a false paradigm by claiming that freedom is at the opposite end of the scale to justice and essentially argues that the world's problems can only be solved by moving away from freedom towards justice, which is a complete contradiction in terms.

Rothkopf's approach is to blame the world's problems on free-market capitalism and and imply that global elitists are a new phenomenon and therefore part of the solution, when in reality the elite created monopoly capitalism and have been a hidden-hand manipulating world events and offering solutions to problems they created for centuries.

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