More Naked Short Selling Gnomes And The DTCC

Halloween Tricks And Treats

Elaine Meinel Supkis

Halloween is here and the trickery and treatery treachery continues to cause market turmoil. That is, AIG's business with feeding and playing with the Derivatives Beast is now unwinding in the typical way such deals end: the monster eats its master. Right now, it is eating up $144 billion of US taxpayer funds. Also, the DTCC is in the news again because of its own relationship with this same fearful monster, the Derivatives Beast. And the Japanese savers are now being eaten by this same critter! Who would have guessed? And commodity inflation is again, taking off as Japan drops its interest rate to 0.3% and the US to 1%. Who would have guessed again? HAHAHA. 

Click here for Wonkette's video of Born Again Christian Heathens worshipping the Golden Calf:

More Photos & Videos From Yesterday’s Sacrilege Wall Street Bull Prayer

All my life, I knew that the Born Again Christians were really demons working for the Antichrist. They embody all the most hateful things I ever encountered. And now we see them waving American flags and begging their demonic devil of a leader, the Fake Jesus Who Loves Money And Power, to give them money and power! Wow. HAHAHA.

Fed Adds $21 Billion to Loans for A.I.G.

The company said it would be able to borrow up to $20.9 billion under the new program, raising its maximum available credit from the Fed to $144 billion under three different programs. The credit includes an earlier emergency loan of $85 billion from the Fed that carries a much higher interest rate.

A.I.G.’s big borrowings underscore the company’s bewilderingly rapid decline. When it suddenly faced a cash crisis in mid-September, the original estimate of the amount it needed was just $20 billion. A few days later, the Fed stepped forward with its $85 billion credit line. And now, the stunning size of that original bailout has grown by almost 70 percent.

*snip*

The company’s financial products division did a lot of business in that type of derivative, called credit-default swaps.

To put things in perspective: the annual cost of occupying Iraq and Afghanistan including the bombing of Pakistan and Syria as well as border feints against Iran, cost us an extra $150 billion a year.  So the rescue of an insurance fund is the equal to international war.  The war expenses are inexcusable.  But this is far, far worse.

We have to pause and ask, 'What is insurance?'  It is the collective sale of risk which, by being spread as much as possible, can overcome periods of losses.  These losses have to be calculated very carefully so that the insuring agents aren't swamped by some event.

Online, there is much talk about 'black swan events'.  Well, we are seeing a massive flock of black swans migrating south.  The fiscal skies are black with these birds of doom.  For swans were the emblem of death as well as longevity.  The ancient Romans ate swan tongues so they could gain youth.  A black swan was supposed to be impossible.  But then, when the Europeans sailed to places like Australia, they found that the only swans were black swans!  

This is a good frame for the concept of 'the black swan' being a 'rare event.'  Actually, there is always a yin to every yang.  And the insurance risk swap game was predicated on an overall collapse being a 'black swan event' that would probably never happen. 

Anyone reading the history of finance, debt and banking is struck by one major thing: they ALWAYS collapse into chaos!  They always over slop the banks of the river of liquidity.  They always over-expand.  They always form bubbles.  Ergo: the human tendency to go bankrupt is very strong!  The impulse to overrun all barriers, to make too much credit available compared to savings, this is a constant, total temptation.  This is why governments must have very powerful rules to prevent this.

AIG is eating up all our national fiscal resources just as certainly as major wars eat up resources.  To have a country go deep into debt to keep a bunch of idiot insurance agents alive: this is the definition of a black SWAMP event.  We are sinking into the muck and there is no bottom.

A Question for A.I.G.: Where Did the Cash Go?

A.I.G. had come under fire for accounting irregularities some years back and had brought in a former accounting expert from the Securities and Exchange Commission. He began to focus on the company’s accounting for its credit-default swaps and collided with Joseph Cassano, the head of the company’s financial products division, according to a letter read by Mr. Waxman at the recent Congressional hearing.

When the expert tried to revise A.I.G.’s method for measuring its swaps, he said that Mr. Cassano told him, “I have deliberately excluded you from the valuation because I was concerned that you would pollute the process.”

And what was this gentleman 'polluting'?  Why, the money stream pouring out of the stump of the World Tree!  He was polluting the flood of dollars pouring out of the Bank of Japan!  He was polluting the flood of invisible money that was feeding the voracious appetite of the biggest monetary/financial entity ever created by gnomic minds: the Derivatives Beast!

Anyone interfering with the feeding and growing of this monster was ruthlessly eliminated.  The gnomes doing all this were proud that they got more and more money so long as they fed the Beast.  So it grew, they got richer and everyone was happy so long as no one had to collect insurance due to a failure.

Then, starting in July, 2007, the flood of money from the World Tree stump stopped when the Chinese Dragon put a basket on top of it and the yen began its long rise in value against all currencies.  Since that hour, the monkeys have struggled to yank off this thing.  More about that later.  Seems like they might have succeeded.  Yikes.

The gnomes are dirty little monsters.  They consider people seeking to clean up messes to be mean, dirty, ugly.  This is because they live in a reverse world.  By moving into the Cave of Wealth and Death, they think up is down and in is out.  The only way we can stop anyone venturing into this cave is to force them to obey strict rules or they die.  This is Libra: the lady with the scales and the sword.  She decorates many court houses.  She is extremely ancient.

AIG is an anti-insurance entity:

Through spring and summer, the company said it was still gathering information about the swaps and tucked references of widening losses into the footnotes of its financial statements: $11.4 billion at the end of 2007, $20.6 billion at the end of March, $26 billion at the end of June. The company stressed that the losses were theoretical: no cash had actually gone out the door.

“If these aren’t cash losses, why are you having to put up collateral to the counterparties?” Mr. Vickrey asked in a recent interview. The fact that the insurer had to post collateral suggests that the counterparties thought A.I.G.’s swaps losses were greater than disclosed, he said. By midyear, the insurer had been forced to post collateral of $16.5 billion on the swaps.

Though the company has not disclosed how much collateral it has posted since then, its $447 billion portfolio of credit-default swaps could require far more if the economy continues to weaken. More federal assistance would then essentially flow through A.I.G. to counterparties.

Periodically I post these reports.  I usually look at the forward fluff part and then run off to the footnotes because this is where all the real information is buried.  This is what children learn in grade school: put all the bad news in tiny letters on the back page of something and then slap the peanut butter side of the sandwich to that side and smear it.  

Failing that, say, 'The dog ate it.'  How they have grown up!  HAHAHA. And $447 billion in credit default swaps: well, that isn't pennies.  All our top major bankers and insurers, hedge funds and other entities ALL jumped into the Derivative Beast's dinner dish here!  And now, they want US to jump out of their frying pan and into the Beast's fire?  

This, in total, is the plan!  To have us make up the difference in these differentials of losses due to banking gnomes handing out mortgages to UNDOCUMENTED people [aka: illegal aliens, criminals in prison, never-do-wells and Joe the Plumber].  These mortgages are seeing a 90%+ default rate in a rapidly declining market.  Wow.  Who would have guessed?

But then, the entire system is now based on dark pools feeding darker pools which feed into the Derivatives Beast who sucks it all down, quite merrily.  And now is sucking down all banking wealth.

Naked short sellers strike again!

The short sellers say they are scapegoats for the real villains in the meltdown. ``The shorts who warned about the real estate bubble have been proven right,'' Fleckenstein says. ``Now the government has changed the rules overnight. They're blaming the shorts and bailing out the ones who lost all the money and almost took the financial system down.''

Manuel Asensio, 53, president of New York-based Mill Rock LLC, says he and his brethren keep the stock market honest by going after companies with rotten accounting, dubious business plans and excessive debt. ``Short selling is an expression of doubt, not a criminal activity,'' Feiger says.

*snip*``

The management at Lehman, Bear Stearns and Merrill kept saying everything was fine. Then, every few weeks, they'd write off billions.''

Lehman, Bear Stearns and AIG all did the same thing: they stuck the peanut butter side of their lunches onto the reports and then handed the mess over to the SEC.  Cox is a political appointee who paid no attention to this and when his staff complained, he told them to shut up.  Now, he is in the news, pretending to care about the book reports from these gooey fingered gnomes.  'Bad, bad, naughty gnomes,' he cries.  

Bears who trade on real information are very steamed now.  The market has collapsed but is being artificially propped up.  How's that?

Ah!  By pouring trillions of dollars of US tax payer's futures into the markets!  They are using every crummy trick in the book used by African or South American nations seeking to fix economic messes caused by cronyism and criminal manipulation of the bottom line.

According to Short Alert Research, a Charlotte, North Carolina-based firm that produces research for short sellers, from early July to late September short interest in 33 investment banks and brokers plunged by 33.3 percent. Yet, share prices still declined.

``It was the longs getting out,'' says Fleckenstein. ``Probably the insiders.''

*snip*

``During the year prior to passage of the Securities Act and Banking Act in 1933, there was a massive bear raid on Wall Street,'' Geisst says. ``Some executives were shorting their own stock.''

The longs getting out is fancy talk for the rats who run these joints jumping ship.  The gnomes are palming off their dying industries into the laps of someone, anyone.  Since bears are barred from buying, this leaves exactly who? 

HAHAHA.  If you said, 'Uncle Sam!' you win a Derivatives Beast magic decoder ring.  This ring is wonderful.  You put it on your finger and say, 'Make me rich!' and all your money vanishes!  Every child should have one.  

DTCC May Raise Credit-Default Swap Disclosure Amid Criticism

(Bloomberg) -- The Depository Trust & Clearing Corp., which operates a central registry for the $55 trillion credit- default swap market, may agree to disclose more data to counter criticism the derivatives amplified the financial crisis. New York-based DTCC has discussed with banks, brokers and others that own the company ``whether or not there's any broader access to information we might provide,'' spokesman Stuart Goldstein said in an interview yesterday, declining to elaborate on what data may be published.

The DTCC earlier this month began releasing some information on trades in the registry to clear ``misconceptions'' about credit-default swaps following the bankruptcy of Lehman Brothers Holdings Inc., among the market's largest dealers.

*snip*

Officials from U.S. Securities and Exchange Commission Chairman Christopher Cox to New York Insurance Superintendent Eric Dinallo have called for increased regulation of the swaps. Dinallo, in an interview that aired Oct. 26 on the CBS news show ``60 Minutes,'' called the market ``legalized gambling.''

One of the deeper, darker pools is the DTCC.  I wrote about it in the past so we can just visit Culture of Life News back last spring:

May 11, 2008, Naked Short Traders In Red Hell And Black Ice:

A reader kindly sent me a new link, 'Deepcapture.com' which is a site run by a businessman who believes that the phantom financial world of naked short sellers in the hedge fund pirate/hell hound high seas has defrauded himself and other business people. To explore this story means plunging deep into the darker pools of finance, news reporting and downright demonic affairs with everyone pointing fingers at each other. There are no 'good' people in this story. But lots of lost souls and quite a few swindlers not to mention outright criminals, corrupt politicians and the many despicable follies and wild games of the people who are the bleeding heart at the center of our financial world. Like the DTCC, the organization originally set up to transfer ownership of stocks! All are now in this bizarre universe where there are many secret portals, secret chambers and invisible monsters that destroy or create wealth.

Here is my section about the DTCC from the May article above:

So, what is the DTCC? A crypt! A hiding place for invisible things! The place where ALL THE DERIVATIVE CONTRACTS ARE PROCESSED! HAHAHA.

What does the Cave of Wealth look like? We always have to answer this question when reading anything about the systems we depend on to create or regulate the flow of 'wealth'. Stocks and bonds are pieces of paper that are processed by humans and computers. Their relative level of wealth is very uncertain and shifts like the desert sands in the sighing night winds. The guardians of these various chambers in the Cave of Wealth call themselves 'wizards'. They know they are dealing with magical things and via joint efforts can assign values and purpose to all that they control. These wizards are supposed to be the gatekeepers who protect our joint wealth.

But they are sly and self-centered. They love to rig things and do riddles and such. They are also prone to playing games with gods and dragons. Always greedy and seeking some advantage over the masses of humans and giants working up above in the sunshine, these wizards hammer away in the darkness, seeking errors to exploit. They hope that gullible humans would say, 'Oh, you made a mistake,' or 'It takes you five days to process my check?' etc. I am old enough to remember the pre-DTCC days when stock certificates had to be moved from one broker to another. My previous husband had summer jobs working on Wall Street as a courier carrying these pieces of paper from broker to broker. He would go to the outer edges of the trading floor and wait to be called by a frantic trader and then would run off with a scrap of paper to some broker's office. A guy with the legendary green eyeshades would fetch the appropriate stocks from a big, fancy safe with lots of gold trim and pass it through a grill and he would have to sign off and put it in a pouch and physically carry it to the destination where the process was reversed. This took so much time, by the end of the day, there were stocks still not finished with this fetch and carry.

Eventually, during the run up to the big stock crash that ushered in the stagflation years where stocks were flatter than a pancake on a hot tin roof, every Wednesday the market had to close! Totally shut down so the young boys could run back and forth and finish moving stocks to their rightful owners who paid for them. Well, the Big Brains in charge of things said to the governing board, 'Let's build a house of bricks and the Big Bad Wednesday Wolf who shuts us down every week will huff and puff and we can still trade stocks!' So they built this big, brick and marble tower and locked the doors and not even young men wishing to get a start on Wall Street ever touched a piece of paper being traded again.

And when this new system happened, did the time lag between buying a stock and ACTUALLY GETTING IT vanish? HAHAHA. Being greedy, vicious monsters seeking eternal wealth with no labor or even ownership, the guys who set up this system said to each other, 'Those foolish humans and working giants are stupid. We will tell them that even though ALL the stocks are held now in our new brick and marble tower that looks like the Cave of Death, we will pretend that it STILL takes DAYS AND DAYS to process the paperwork and settle affairs! HAHAHA.' So they continued to pretend that it took at least 3 or more days to move the actual stocks into the hands of the actual buyers. Just like bankers, when computers removed all need to process mere 'money', pretend to this very day, it takes them several days to communicate with other computers that have electronic 01010s. Why, they have to use boys like 100 years ago to carry the bags to the front door and the the Brinks guards have to carry it to the other banks, etc! HAHAHA. Of course not. But it is a great fiction that allows banks to use our money for a few days on the overnight LIBOR markets which is yet another ancient thing that used to take time and now takes only a micro second to operate.

We see a pattern here: upgrade and modernize, speed things up to light speed or faster while at the same time, tell all the people being ripped off that the system is very slow and ancient and has many barriers to speed. Then, exploit this time frame ruthlessly to enrich the people who are 'in the know.' How simple is this? And it is also fraud, a swindle and totally evil. Thus, the childish glee this gives the wizards pulling off these tricks.

Now off to 0% interest heaven, Japan.  Japan loved to pretend they were not involved in all this. But they were and still are.  I would suggest, they are the deepest, darkest corner of all this.  We got the news the other day that the LDP, the dictatorial power base of the children of war criminals, has decided not to have any elections until after the economic crisis is over.  Think about this: for the last 16 years, Japan has complained about being in this depression while their export industries have ballooned and have taken first place in many industries!

Well!  Japanese workers have been utterly crushed by the LDP.  They are in severe decline and now are even unable to have babies!  This is going to annihilate the Japanese people in the long run, literally and physically.  Another group being robbed there are savers.  Saving when the interest rate is 0% is impossible.  So desperate savers had to go to con men for help.

Fears mount in Japan over complex yen products

Traders in Tokyo have given warning that about $90 billion (£55billion) of complex foreign exchange products, sold mainly to Japanese households and institutions, are on the brink of falling “like a house of cards”.

A rescue effort by the product issuers - large Japanese, European and American investment banks - is expected to involve extensive hedging measures that will throw global currency markets into even deeper turmoil.

The products, which are known as power reverse dual currency notes (PRDC), were sold to Japanese households as simple products offering higher yields than regular savings but the bonds were in reality hugely complex structures “with 15 moving parts and multiple points of pain”, derivatives experts at RBS in Tokyo said.

The products combine exposure to foreign exchange, interest rate differentials and domestic inflation and have formed a small but potent part of the so-called yen carry trade - the borrowing of yen to invest in currencies offering higher interest rates - a gambit thought to have financed huge amounts of global risk-taking in recent years.

Gads! I read a lot of news and I missed this 'PRDC' product!  The name absolutely REEKS of the Outer Darkness!  Power...that is the Ring of Power, the Rhinegold, the Ring of Doom, Draco, it is dangerous to wield.  Reverse: in the Outer Darkness, up is down and in is out.  Magic is all about reversals!  Lightning is reversals!  Yin and yang is magical.  Dual: duality is the Twins.  This is the force of duplication and duplicity.  It is also yin and yang.  Then there Currency: this comes from the word to flow!  It is red ink.  It is NOW at the same time.  It flows yet it is the point of time when reality is actually happening, it is the connection between the Dire Twins, Future and Past, it is the connection between the goddess of Inflation and the goddess of Deflation.  Life and Death.

So...when we see such a collection of dire, amazing, magical names to describe a dark pool, impossible to explain entity...try explaining credit default swap derivatives!  I spend hours trying to explain this and other amazing concepts.  The best method is mythology and cartoons.

Note the last sentence of the paragraph I highlighted above!  This gambit of the Japanese FINANCED HUGE....HUGE...HUGE AMOUNTS OF GLOBAL RISK-TAKING...'  Thank you, Bloomberg News, for admitting what I have yelled about for years and years!  Everyone in the US media looked to China for causing trouble for us.  It wasn't China, it was never China.  It was Japan.  This banking collapse is the fault of the Bank of Japan, not desperate Japanese housewives struggling to stay afloat.  

They are VICTIMS.  The Japanese workers are VICTIMS.  The trouble makers are the LDP and the Bank of Japan working in collusion with the central bankers in Europe and America: the G7 and the G7 leadership.  And the Bilderberger people as well as the assorted other Real Rulers.  Whew.

Treasury, FDIC Said to Consider Guarantees to Stem Foreclosures

(Bloomberg) -- The U.S. Treasury and the Federal Deposit Insurance Corp. are considering a program that may offer about $500 billion in guarantees for troubled mortgages to stem record foreclosures, people familiar with the matter said. The plan, which might put as many as 3 million homeowners into affordable loans, would require lenders to restructure mortgages based on a borrower's ability to repay. Under one option, the industry would keep lower monthly payments for five years before raising interest rates, the people said.

Lower rates for five years and then raise them?  HAHAHA.  Won't work. Has housing in Japan climbed after the Japanese made a huge bubble at home?  NO!  Now that they flooded the entire planet with EXACTLY the same financing that destroyed Japanese housing values, will we recover?

No...unless we destroy the value of the dollar so it is cheaper.  This is called 'inflation' and we just went through a very nasty wave of this sort of inflation.  And it is not gone, it is gathering power to hammer us yet again.

Oil, Copper Lead Gains in Commodities on Outlook for Rate Cuts

(Bloomberg) -- Crude oil, copper, wheat and sugar led the biggest commodity surge in at least five decades on expectations that lower borrowing costs will aid a rebound in demand for raw materials.

The Reuters/Jefferies CRB Index of 19 raw materials rose as much as 6.4 percent, the most since at least 1956, when the data begin. China, the world's largest consumer of industrial metals, cut interest rates for a third time in two months. The U.S., the biggest oil user, may lower its benchmark rate to 1 percent today, according to the median forecast of economists surveyed by Bloomberg.

What a shock...NOT.  I lived through this in the seventies!  I remember that time.  Has everyone forgotten?  We didn't see one wave of inflation, we saw many waves.  And everything didn't go up in tandem, things fluxed from one item to another.  This wave motion was very restless due to everyone desperately seeking to escape it.  The main thing is, whenever the government tried to bail out the economy via cheap lending, the inflation waves would slosh over very suddenly and usually, in horrible places like food and fuel!

And here is another old story of mine from exactly one year ago.  

Gross DOMESTIC Product Is Up But This Is INFLATION

Culture of Life News, October 31, 2007: More news about and from the Federal Reserve. Stocks are up today based on this 3.9 growth rate of our GDP. Like all the lies surrounding our finances, using the GDP rather than the GNP is typical. It counts the spending on inflation-ravaged items to be 'commerce'. Inflation, not our economy, is growing, of course. So time to talk about all this and what it means as the world slides into an obvious recession caused by high inflation of raw materials and energy.

Isn't it pathetic?  When the government was boasting that all was well, I said, 'This is not consumers being stronger, this is INFLATION.'  As usual, I was right. The need to lie is part of the evil of being a criminal.  Criminals lie.  Libras tell the truth.  Take your pick.

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And here is another video of the rear end of the Wall Street Bull at the top of the story. It is mildly dirty so click on it only if you like to have a ball. Culture of Life News Main Page

Comments

[Buffalo Ken]

But I also think the "truest force" resides within the realm of "talking". Communication between two entities. In this way, language supercedes numbers.

The People though - the People have the language and the People have the numbers. Really. The People are awake, and the status quo is already long ago as far as the People go. Seems that way to me.

Let go of the ugly ego would be my words of wisdom.
__________
lets just call that a poem please...

Peace,
Ken

[calvino]

And the word became flesh and dwelt among us..

John

[DrKrbyLuv]

PLovering said:

"In 1992, taxpayers paid the FED banking system $286 Billions in interest on debt the FED had created out of thin air. That amounts to $1 Billion per FED shareholder. Nice dividend"

Do you know if the interest proceeds; beyond the Feds costs, were returned to the US Treasury?

The Fed claims they take no profit and only pay members a fixed dividend to help off-set reserves.

I don't think the Fed is a money making scheme by design. I think the Fed is a tool to wield power by fixing markets and benefiting from insider trading.

I'd be interested to know if you have evidence that they kept that much profit.

Thanks - interesting stuff

[DrKrbyLuv]

Interesting election stuff:

I hate most of the election bull-shit but a couple days ago Ralph Nader gave an interesting talk about McCain and his "un-patriotic" cover-up of the USS Liberty.

McCain, like most of our politicians and religious people are rabid zionists.

http://tinyurl.com/6xau4b

These rotten zionists don't give a dam about those who serve in our military. They are just fodder for the zionists agenda for perpetual war.

[PLovering]

Relax Calvino, The Lord of Truth reveals all.

Meanwhile, spend some quality time in the real world:

http://www.realjewnews.com/

[PLovering]

DrKrbyLuv: Start FED read here with lots of juicy details.

http://www.realjewnews.com/?p=177

[GK]

This video shows British colonies (Canada, Australia) giving the exact same speech on Iraq a few days apart. Who paid for the war in blood and inflation? The other British colony (US).

http://www.youtube.com/watch?v=bfZCt2fv6i4

"If Obama and Biden are installed, it means that the U.S. will continue to be Sovietized for integration into the ascendant global prison system. Biden is a high priest in the ranks of global elite enablers. The glow of the All Seeing Eye shines brightly on this ticket."

Here's a youtube video that provides further proof that we already have a centrally coordinated, one-world government: The PMs of Australia and Canada nearly simultaneously giving identical speeches to their parliaments in '03 calling for war on Iraq.

[Zulu]

EMS, high hilarity that, your tales of growing up pains. That was normal life for the rest of us, but to me honestly, it was a surprise that there are still rich folks left who have some brains.

It reminded me of the Python Skit "Four Yorkshiremen."

http://www.youtube.com/watch?v=Xe1a1wHxTyo

[Dutch Calvinist]

Whats in a name? (Wall Street)

http://www.ujc.org/page.aspx?id=95023

Even I, a Christian can point to a false church and proclaim, false!

As it is written, judge not lest ye be judged. But what of the rest of the verse?
therefore judge a righteous judgement.
Righteous means a beliver in God. Jesus Christ is God.

To quote the apostle Paul- Dont be as your brother Esau and sell your inheritance for a piece of meat.
(wink)

[Dutch New Amsterdam]

"I want to tell you something very clear. Don't worry about American pressure on Israel. We, the Jewish people, control America and the Americans know it."
- Israeli Prime Minister Ariel Sharon to Foreign Minister Shimon Peres, October 2001

[OC]

Rumour has it that the Chinese are prepared to offer a USD200 billion investment package to Hungary as investment hub into Eastern European countries.

China is prepared to take on EU in its own backyard if this is true.

[carli]

OC, you are spot on, the Chinese and the Russians are going to go in heavy into the Eastern Europe and do what the Europeans NEVER did, that is, give a chance for these people to grow and prosper. These are tough hard working folk, and they will be the one's to turn Europe around. Beleive it.

[OC]

Carli,

Elaine is right about the Tibetan stunt by Bush and the French. This is payback by the Chinese. They are going to show that the NWO is just hot air and they (SCO) are the real power. Turkey is another possible takeover target. This is the Chinese version of economic blitzkrieg. Kinda of like Chinese torture - I'm sure u know this one...they take off one limb at a time while giving u false hope that rescue is round the corner and u just need to make a little sacrifice...

Think S.Americas is the last on their shopping list as Africa is gone with ME coming soon. Once that is accomplished. NWO has no access to resources and markets at all. Complete cutoff. The timetable is speeding up - it's 25 years earlier than Elaine's expectations.

[calvino]

Dutch reprobate is what you are. Do not talk falsely anymore and call yourself a Calvinist. At best you are a fool who talks about Calvin while completely unfamiliar with him, the Heidelberg Catechism or the Westminster Larger Catechism. According to Calvin the Apostles Creed means that Jesus was separated from God during the Passion. Got it?

[ziff house]

This from an 'expert' on KD's message board. Strong dollar , spin or truth?

''But I do believe the people who claim default is imminent do not quite understand the power of reserve currency status. Our debts are not denominated in foreign currency. This is brushed aside by way too many people. The countries defaulting have their debts denominated in FOREIGN currency. Their currency crashes which causes their debt service payments to skyrocket. This also includes their local businesses and households. Not only does the manufacturer in Argentina lose his most important customers which takes away his ability to generate dollars to make interest payments, but his local currency also crashed so he can't use domestic currency to meet his debt obligations. ''

[K]

Elaine...I'm re-posting because I accidentally posted on an older entry.

You're my magic numbers lady. What do you think about the rumour that there will be an 'international crisis' on January 21 or 22? Have you seen the clip of Colin Powell on Meet The Press?

Here is a comment from another site:

"It’s true that these event must have been talked many times by the power elite. But I think the real plan is to put Obama in the White House. On Jan 21st we’ll see what their intended crisis will be. Personally, I think it has more to do with USA being bankrupt and the installation of a new regional currency (the Amero) and the beginning of the North American Union.

This is THE plan, it has been going for many years, and now it’s almost a done deal. Don’t forget Obama is a NWO puppet that has close ties to the CFR and the Trilateral Comission via Mr. Brzinsky."

Further this poster, Eric, thinks it will be about Pakistan:

"If either McCain or Obama is elected the Jan 21st coup will be the AlQaeda (as PsyOPs and false flag terrorism) blowing up something again in the United States and the enactment of martial law, then an attack on Pakistan will be offered to solve the created crisis. It has been staged by the recent Bin Laden video done by the CIA. Because Bush plan is derailed, they need another event to manipulate the public opinion toward mare war and the completion of their plan."

I'm asking about the significance of the date because Powell said the will be a crisis but "that we don't know what it will be."

[Brazil Guy]

Hi !
I think this site is amazing, but reading all the posts make me think that i am completely lost at what is up to happen and why, i mean , would you mind in doing a map of what has happened and what is up to ? Also, which school of economics do you followed to get all these right "big picture" you have now ? As i am iniciating at economics i would like to learn it into the right path.
Regards !
Matheus , Brazil

[GK]

Anyone have an opinion on the possibility of Dubai becoming the new center of world finance and a new world reserve currency? (backed by oil or gold?)

http://fofoa.blogspot.com/2008/10/freegold-is-in-works.html

The UAE has the Dirham, but they are supposedly close to a unified Dinar for the Middle East. (Many currencies in the ME are called the Dinar, derived from Greek meaning "give").

The point is that I believe we will soon have a big surprise out of Dubai, one of the seven emerates in the United Arab Emerates. Dubai is going to be the equivalent of New York City in the new world, as far as international commerce and glamour is concerned.

[Brazil Guy]

What happened with my post ?

[don]

From a corporate perspective, it was nice
to see Boeing end their strike. 15% raise
is pretty good for 4 years and the perks
sound excellent. Don't tell the GM workers
what they got. I see that the economy is
worse than I thought in Europe. Eg. Sales of
Volvu Trucks sank " 99% " !!!!!!!!!!!!!!!!
SAP the large database company is giving no
guidence for the next quarter. Ouch....

[Buffalo Ken]

1. Who owns GM's "pensions" - shouldn't it be the workers? They are promises due aren't they?

2. What percentage to the pensions represent of GM's total market capitilization (3.28 billion I think --- stock price is $5.79)

3. If pension amount due, exceeds value of corporate entity, then seems to me that the workers now OWN the company.

Good-bye GM - I hope the "new management entities" do better than you did.

Peace,
Ken

[Buffalo Ken]

And even if you think the above logic is flawed, is it not time, for the "workers" and the "peasants" to start demanding a fair wage, or for that matter, to take over the reins of production in a small-scale appropriate way....this could work out well even for some of them "big-whigs" out there if they see the opportunity and realize the value of fair wages and local commerce.

Peace,
Ken

[Elaine Meinel Supkis]

Brazil Guy, Typepad is screwing up and I am involved in a major fight with them. Sorry about your postings disappearing.

I have completed stories this week and lost them! Which is why my posting speed has dropped somewhat. Damn.

About my economic credentials: I was born in the Norman ruling class and my father was advisor to 5 Presidents and is one of the founders of the CIA.

So I grew up 'inside' rather than outside. The children of other Presidential candidates were my playmates. The sons and daughters of kings in the Middle East and Asia played with me when I was young. I know everyone and everyone hates me because I hate what is happening right now and decided 10 years ago to go head-to-head with everyone at the top. This is why I am not published.

[Brazil Guy]

Wow ! Amazing history ! Can i send you an email asking some questions about the economy ? I am completely lost in all these financial mess.

[blues]

Brazil Guy,

It took me two years to begin to comprehend what it is all about. I, of course have my own biases, and am not expert (Elaine is expert). But I am good with (very) short, simple explanations, and have set up a page on one of my (many) blogs for such questions. It is at:

http://tinyurl.com/6dfkmh

Maybe Elaine will set up a "reference section" sometime.

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