Classic FX

Just hanging out waiting until my trade parameters are all met. I'm thinking the next signal I get to start buying Metals is going to be extremely profitable after this massive sell off. If not, hopefully a couple currency pairs setup to trade.
Wish I could give you traders a suggestion on which pair to trade, but I can't make heads or tails on this market, it is really all over the place. I am not going to chase it around.

http://www.youtube.com/watch?v=198njDHoxCU&feature=related
 
"We're an empire now, and when we act, we create our own reality. And while you're studying that reality—judiciously, as you will—we'll act again, creating other new realities, which you can study too, and that's how things will sort out. We're history's actors ... and you, all of you, will be left to just study what we do." -Karl Rove


Sex, Lies & the TSA
http://www.canadafreepress.com/index.php/article/36388
- Doug Hagmann & Joseph Hagmann Wednesday, May 11, 2011

The psychic fluidum- that is, the peculiar atmosphere—of totalitarian dictatorship is created by two closely related phenomena, propaganda and terror. [...] Its chief characteristic is the deliberate effort to intimidate. [...] A pervasive atmosphere of anxiety and a general sense of insecurity are the subjective concomitants of such terror. Often the victims of such terror are quite unaware of their own psychic states. —Excerpted from Totalitarian Dictatorship & Autocracy by Carl J. FRIEDRICH and Zbigniew K. BRZEZINSKI; Frederick A. Praeger, Publishers; Second Edition © 1956. 1965 (emphasis added)



Most Americans still “don’t get it.” Our rights as American citizens are under attack by the most socialist administration ever to assume power, installed by an elite oligarchy of globalists through a continuity of agenda that began decades ago. Americans continue to be sold some of the biggest lies in history by the establishment media, which has been progressively infiltrated by some of the most powerful socialists, communist sympathizers and sellouts in the history of the Fourth Estate.

The rights of every American citizen are protected by the U.S. Constitution, which is divinely inspired and one of the most famous documents in the history of the world. Along with the Bible, this document allocates inalienable rights to Americans that no other man or government agency shall take away. Due to a combination of apathy and deliberate assault, the U.S. Constitution has become the proverbial red-headed stepchild of this administration in particular and past administrations in general. It has been ignored, beaten, and relegated to an indefinite “time out.”

During its creation and the establishment of our Republic, our forefathers established a series of checks and balances to protect the rights of all Americans through the separation of powers. The framers often spoke about abuse of powers and the ability of man to oppress man. They foresaw the need to protect against unreasonable government intrusions, and today we can see the value of their nearly prophetic wisdom and foresight.

During his farewell speech delivered on 17 January 1961, President Dwight D. Eisenhower prophetically issued a direct warning to the American people for the potential of misplaced power that could potentially endanger our liberties and democratic processes. He further warned that we must not allow this to happen, and advised us to be vigilant and take nothing for granted. As if he was speaking to us today, Eisenhower stated that “[o]nly an alert and knowledgeable citizenry can compel the proper meshing of the huge industrial and military machinery of defense with our peaceful methods and goals, so that security and liberty may prosper together.”

It should be apparent to every alert and knowledgeable American citizen that we have reached the crossroads, and even crossed that very intersection referenced by this former statesman. As we stand at this point in history, it is obvious that if we do not address the threats to our liberties at this time, there will be nothing and no one to stop the perversion of power, the abuses of our citizens, the erosion of our rights and the ultimate abolishment of our constitution.

Surrendering our Constitutional Rights
The Fourth Amendment to the U.S. Constitution provides our citizenry the right to be secure in their persons, houses, papers, and effects against unreasonable searches and seizures. It provides that this right “shall not be violated, and no Warrants shall be issued, but upon probable cause, supported by Oath or affirmation, and particularly describing the place to be searched, and the persons or things to be seized.” It is clear that this Amendment was put in place to protect our liberties and to be able to live freely, without unwarranted harassment, by agencies or arms of our government.

Yet, what is its status today? Who, if not those who are entrusted with the protection of our liberties will assure our protection? Who among us will say “enough” when the government crosses the line and takes away certain liberties for the fallacy of domestic security?

Despite the warnings from our founders and more recent statesmen such as Eisenhower, Americans appear more willing now to surrender their rights and freedom for the illusion of security. Although Americans have heard that statement time and again, the majority apparently still don’t “get it.” Accordingly, they willingly and even cheerfully at times, agree to surrender their constitutional rights just to board an airplane, playing a perverse game of “grope-a-dope.”

Soon, we will be required to surrender all of our Fourth Amendment rights just to board a bus, train or other form of public transportation. From there, it most likely will be to enter a school, stadium, courthouse, mall or other public venue. In fact, it is already beginning to happen.

Bipartisanship: The art of selling the same lies
Like the proverbial frog in the pot of water, Americans are indeed being conditioned to accede their constitutional rights for the mere illusion of security. This illusion of security, however, is but one spoke of a wheel designed by the globalists for the implementation of a New World Order. A New World Order cannot coexist with our national sovereignty and a constitution protective of its citizens. Therefore, the power elite must deconstruct our rights and safeguards from within, and are readily doing so under the pretext of our own security. Once the majority of the sleeping population is properly conditioned, the violations of our rights will become incrementally more egregious until the perversions detailed by George Orwell’s 1984 are nothing more than a distant vision in our collective rear view mirrors.

What will it take to awaken Americans to these violations of our rights? Obviously, it will take more than mere lip service by conservative political pundits and their consummate followers who seem to accept some measure of adulteration of the constitution while speaking up against others. An exceptional illustration of this dichotomy can be seen by those who have refused to discuss the constitutional eligibility of Barack Hussein Obama, yet scream like little schoolgirls at the mere mention of throttling first or second amendment rights. Such representatives of “conservatism” are the political equivalent of Christians who pick and choose only those commandments that are most convenient to follow. In consideration of such hypocrisy, can we really place our trust in these self-proclaimed conservative mouthpieces?

We know what to expect from the progressive and socialist mouthpieces as their intentions and objectives are as transparent as their deceptiveness. They ignore the obvious continuality of agenda under Obama, giving him a free pass on issues for which they would otherwise assail a republican or conservative. It is this transparency that identifies them for what they are and what they represent, and makes them much less of a threat than those who appear to hold the constitution sacred.

While many conservative pundits will walk to the edge of the abyss of the lies and deceit pushed by our government officials, less than a handful have dared expose the full depth of the abyss, always stopping short of exposing the entire truth. We believe that by exposing only partial truths, those conservative pundits actually enhance the conditioning of their trusting followers. The subtle deception by omission or deliberate evasion is likely to be the proverbial final nail in the coffin of our great republic.

TSA Scanners: All about the Benjamins?
Much like the deceit of the globalists and their supporters, the existence of totalitarian rule is becoming more and more apparent. Perhaps the most apparent of all totalitarian undertakings are those of the Transportation and Security Administration presently under the leadership of John Pistole, a branch of the U.S. Department of Homeland Security under the reign of Janet Napolitano.

We need to look no further than the TSA for illustrations of just how out of control the abuse of power is today. Unsurprisingly, the liberal watchdogs that have historically fought against such abuses are silent, while the conservative right permits the advances of such powers without objection as well. It is this unification and continuity of agenda that should be ringing alarm bells across the nation. We should be able to rely on those we’ve elected to protect our rights, yet the same people who have taken an oath to uphold the constitution are permitting and in many cases, facilitating its demise.

Consider the basis for the full body scanners to be placed in our nation’s airports. The major impetus for the accelerated dispatch of the scanners was the alleged thwarted Christmas Day 2009 bombing attempt on a flight from Amsterdam to Detroit by Umar Faouk Abulmutallab. Legitimate questions about the genuine nature of that attempt, along with other actors and facilitators unknown, continue to surround this incident and remain without satisfactory answers.

Nonetheless, former DHS Secretary Michael Chertoff, head of the private security consulting firm known as The Chertoff Group, made numerous media appearances following this incident to convince a frightened flying public the need for full body scanners to detect such bombs hidden in private areas. Since that time, the TSA has stated their intention to roll out such scanners to include other modes of public transportation and has ordered more scanners for these purposes.

Now consider that The Chertoff Group worked with RapiScan, which is one of only two companies that manufacture these devices who are TSA vendors. The other company, L-3 Communications, has as its lobbyist, Linda Daschle, who is the wife of former Democratic Senate Majority Leader Tom Daschle. It should be looked upon as no coincidence that at least eight members of congress own stock in L-3 Communications. Included among those eight is Senator John Kerry, who owns upwards of a million dollars in L-3 stock.

Considering the above, is it any wonder that we hear nary a whimper from congress about the implementation and use of the full body scanners?

Private Parts: the TSA and abuse of power
Based on the above, it is no coincidence that allegations of physical abuses along with reports of theft and pedophilia at the hands of TSA agents are largely ignored by the corporate media and the elected officials in congress. Given these conditions, the abuses were bound to only get worse, and they have.

This week, American citizens were treated to a covertly recorded video of TSA agents peering under the diaper of an infant at a TSA checkpoint at an U.S. airport. Public reaction to this perverse sight was anger and fury, although both sentiments appear to be short lived as Americans consider this an exception as the conditioning continues.

Outrage over such TSA behavior continues by those who have yet to be indoctrinated. For others, such incidents are met with ambivalence.

Not so by the former Miss America who tearfully reported that she was molested by TSA agents. She alleges that a TSA agent unnecessarily groped and touched her ****** four times in a single pat down, traumatizing her and reducing her to tears.

Such behavior, if done outside of the color of law, would be criminal in nature. Instead, the TSA is given a pass and the majority of Americans are fine with their tactics, as long as these tactics in tandem with the nuclear scanners assure passenger safety. Beyond that, it is the assertion of the TSA that all of their screenings are performed randomly and without invasion of privacy. Obviously, an ample amount of covertly secured videos prove otherwise.

In our opinion, the TSA has been openly running a criminal organization since its existence. The fourth amendment of the U.S. Constitution protects American citizens from unreasonable searches. Unfortunately, this law is apparently not followed anymore, and our rights under the fourth amendment are not being protected. The TSA’s response is quite simplistic. According to TSA Head, John Pistole, if passengers refuse screening by scanners or pat downs, they do not have the right to fly. The problem with this, however, is that the TSA is now expanding its searches to other venues, including roadside checkpoints where backscatter scanners are being used to inspect passenger and cargo vehicles. It’s a virtual boon to the scanner manufacturers, to be sure, and job security for the federal workers.

Just two months ago, the chairman of the House Transportation and Infrastructure Committee charged that the TSA intentionally fixed data to ensure that federal workers were employed to screen airport passengers, rather than private contractors. This report illustrates the depth of the deception by government officials to keep all of the screening “in-house,” especially in light of the projected expansion of the screening program.

Potato, Popcorn, or People?
Recent studies have shown that naked body devices showed radiation levels 10 times higher than expected. Despite this statistic, the government has assured their workers and the flying public alike that the scanners are perfectly safe. Given the incestuous involvement of government with the scanner manufacturers, would anyone expect a report to the contrary? Where are the journalists who should be actively investigating this issue?

To quote the farsighted Zbigniew K. BRZEZINSKI in the 1956 work Totalitarian Dictatorship & Autocracy that he co-authored, “the peculiar atmosphere—of totalitarian dictatorship is created by two closely related phenomena, propaganda and terror.” We are replete with ample amounts of both.


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My strategy indicates that Metals are optimal to trade long this week, so I am suggesting buys off lower time frames.

Have entered the following trade.
Xau/usd long $1498.49
s/l $1489.43
:)
 
Waiting to get back into Silver and Gold around $35 / $1490
:)


White House Insider: Eric Holder Is Gonna Fall
http://newsflavor.com/politics/us-p...ider-eric-holder-is-gonna-fall/#ixzz1MAFvllDw
Published by Ulsterman on May 9, 2011 in US Politics

Note: This is the second part of a two part communication with our D.C. Insider. The first part was titled Obama’s West Wing Civil War. Just prior to the second part being published, the events surrounding the death of Osama Bin Laden broke, including Insider’s explosive behind the scenes details of a quasi operational coup within the administration. The details contained in this update were understandably delayed from publication due to the Osama Bin Laden news. It is a somewhat lengthy read – but informative

…He called out the real Valerie Jarrett inside the White House. He showed the staff who she really is. And he is still there standing. That message will not be lost to those in and around the West Wing. It’s a pretty damn remarkable turn of events. I probably ain’t doing it justice in my telling of it, but it’s huge. Rahm was pushed out like a dog. Bill Daley is still holding strong.

Don’t think Jarrett is giving up though. That lady will fight back. Bet on it. Obama is gonna be on the road campaigning 24/7 in the coming months, leaving Jarrett and Daley to square off in creating policy. Those two are gonna be at each other’s throats. My money’s on Bill Daley. If he can help send Jarrett packing, he will be doing this country a huge favor. Huge.

Q: Can you repeat what you told me before – how Richard Daley stepping down and Bill Daley coming to the White House, and then Rahm Emanuel becoming Chicago’s Mayer. How all of that relates back directly to Valerie Jarrett and Barack Obama. You connected those dots better than anyone else I’ve heard from, but you didn’t want to publish it before. Can we share that now? What you said regarding that?

A: I won’t allow you to publish it. I WANT you to publish it. And I want to qualify that by explaining to you that I am running without fear now. I am not alone here. This has become much bigger than me, or the group of us that were working prior to the Midterms We are in every good hands now, and this thing has a real possibility of seeing the kind of outcome I thought impossible just a few months ago. And don’t get hung up on people believing or not believing what we are discussing here. That is not the point of this. As I told you some time ago, the real motivation of this operation is letting those know who are watching that we are also watching, and that no amount of effort on their part is going to fully prevent the truth from getting out there. And I am being absolutely honest with you when I say that at no other time since we began this have I been so confident in our eventual success.

Now getting back to your question about Richard Daley stepping down, Rahm stepping in, and Bill Daley’s entrance into the Obama administration, it is foolish for anyone to not think all of that is no connected to something far greater than simply political repositioning. You have already reported on the Jarrett-Richard Daley connection, so no need for me to get you up to speed on that. What you might not know is that Richard Daley had something of a falling out with Jarrett, and by default, the Obama’s prior to Obama becoming a U.S. Senator. Now when it comes to Chicago politics, the Daley machine owns all of it. Everything. This includes information – every kind of information, on anyone of political importance in and around Chicago. When Obama went “national” as a Senator, Jarrett’s influence went national right along with it, right. By then she was the primary guide for Barack Obama’s political career. Every decision went to her, through her, and ultimately had to be approved by her. Obama did nothing without her approval. This has largely continued to this day in the White House, though as I just indicated, Bill Daley is fighting to alter that arrangement. So what happens when the great keeper of Chicago secrets, Richard Daley, announces he is stepping down? A huge power vacuum that sent the Obama White House into panic mode. Daley had a working agreement with Obama and Jarrett to keep a lid on the “unsavory” details related to each of them. Details stemming from years working among the most powerful and corrupt forces in Chicago politics, including Daley himself. And while many dislike the man that is Richard Daley, none will dispute that when a deal is made, he holds to it. And he has held to his deal with Jarrett and Obama. Almost every avenue investigated against those two has been effectively shut down in Chicago. With Daley’s departure as mayor, that will no longer be so easily accomplished, and the figure now in control of that apparatus is none other than disgruntled former White House Chief of Staff Rahm Emanuel.

Q: I have been told by others that Rahm’s voyage back to Chicago was coordinated by the Jarrett White House to continue keeping those secrets you speak of under wraps. That seems like a very strong possibility to me. You are stating that is not the case?

A: Not only is that not the case, but it is among the single greatest concerns currently being dealt with by Jarrett and White House operations. That is to say, keeping an eye on Rahm Emanuel in Chicago. That scenario you lay out, the idea that Jarrett sent Rahm back to Chicago, is a superficial ruse by Jarrett meant to keep the donors and their concerns minimized. Nobody wants to make a substantial investment on a horse with a bad leg. I have detailed to you the conflicts between Rahm Emanuel and Valerie Jarrett. Money and resources were spent against Rahm’s campaign by the Obama people. Rahm then received support, very important support, from two powerful allies. One was political machine of outgoing mayor Richard Daley. The other was from Bill Clinton. But I am not quite prepared to relate the Clinton connections as they relate to Chicago because that may compromise what is still underway.

And then of course you have Richard Daley’s brother Bill being placed within the Obama West Wing as new Chief of Staff. That decision was not Jarrett’s. I have told you that already. There is a trap being built around both Jarrett and Obama and they certainly are aware of that now. Once we get Holder out of the DOJ, the cracks will really begin to appear. The DOJ is holding off every significant inroad against Jarrett and Obama at the moment. But that situation is temporary. Holder is going to find himself in some very serious legal trouble shortly. He may survive it, but I would consider that outcome likely. He cut off the NBP case. Held it off long enough to do so. Ok then. We have moved on to the next scenario and this time we have much greater help in pushing this one through.

Q: And then back to Chicago?

A: And then back to Chicago, yes. As I have always said. The big difference now are these two theatres are working almost simultaneously, so once the first wall is breached, the second should fall far faster than we were initially thinking.

Q: Wall?

A: Sorry, speaking figuratively there. Sort of. Mean to say that once one event happens, which will be Holder related the protection coming out of Chicago will likely collapse much faster as well. Dominoes might have been a better term to use.

Q: What part does the Blago trial play in all of this?

A: The Blago trial is a very big Domino. The forces being used against him are a very big wall. He will cut a deal. Some kind of deal. No doubt about that. The trial itself and its outcome are not the critical component to all of this. It’s important, but it won’t decide the outcome one way or the other. Ask yourself this though. Those tapes. The Blago tapes of his phone conversations that the Feds are using to try and convict. Why was that taping cut short? Or were they? The spin was that the Feds moved in to charge Blago, maybe a bit early, right? They exposed the operation before they had enough to easily convict, right? Why did they do that? Or did they?

Q: What do you mean “Or did they?”

A: What if the Feds actually didn’t stop the investigation too early? What if those tapes have all they needed to easily convict Blago and more? A federal investigation is normally a very slow and deliberate process, but in this one, it came out very quickly, charges were filed, and then soon after, concerns about possibly having stopped the taping of the Blago phone conversations too early started to be disseminated by the media. The media was simply regurgitating what was being forwarded to them via the Feds, at least those few involved with the Blago case. Why would Federal prosecutors start putting out a view that they may have stopped recording Blago’s conversations too early even before the trial was underway? Why do that?

Q: I have no idea. They are admitting incompetence? Trying to get ahead of a story of then possibly losing the trial?

A: That’s what they want you to think. I’ll say it again. What if they actually had not stopped the recording of the conversations too early? What if those tapes have information directly tying the Obama administration to the charges being levied against Blago? What if both Valerie Jarrett and Barack Obama were complicit in the alleged crime and those tapes prove it? And what if one of the primary tasks of Eric Holder was to squash any and all investigations within the Department of Justice that would make that connection? What if Federal prosecutors were working under extreme pressure to withhold any and all evidence directly linking Valerie Jarrett and the president to the investigation? And what if, once Eric Holder was forced to resign, the dynamics of the political firewall were essentially destroyed? This entire administration is then under the assault of the truth. And the questions won’t stop at the Blago related material. And it won’t stop at Holder’s Department of Justice workings. And it won’t stop at those actions taken since Barack Obama became President of the United States. Those questions, and the eventual answers, will go back to Chicago, back to both Obama and Jarrett. That is, if we ultimately successful with what we are attempting to pull off. You have seen an uptick in the some negative press related to the Obama administration. If things are going well for us, you should note an even greater increase in such coverage over the next month or so. Some very powerful hands are now pushing this rock up the hill. It’s a long, steep climb, but it’s getting done, which is a hell of lot more than I could say not so long ago.

Q: Is Trump helping with this? Donald Trump – is he playing a part? You starting pushing him as a possible candidate and initially I thought you were crazy to do so, but I have to admit that soon after he was making a huge move in the polls and is now enemy #1 among the media. Are you connected to the Trump phenomena in any way?

A: Not exactly. I was simply aware he was going to make noise and given his celebrity, and resources, considered him at the time the most viable threat to Obama politically. And frankly, I feel comfortably saying I was proven right. Donald Trump forced the birther issue onto the mainstream, and because of that, Valerie Jarrett knew they had to release a birth certificate to nullify the momentum that issue was creating.

Q: Why do you say it like that? You say “a birth certificate” instead of the birth certificate. I have learned nothing you say is without a reason – so what’s the reason for that specific choice of words?

A: Let’s move on from that subject for now. I won’t go there at the moment, ok? But I will talk Trump. Why I was pushing him…

Q: Ok – but does that mean you’re not pushing him anymore?

A: Not necessarily. I am open to anyone and anything that will help to put a political end to the Obama White House. Donald Trump…look at how he is being attacked now. That is proof positive he is considered a serious threat. I would support a Trump campaign. Absolutely. I would support a Hillary Clinton campaign. Most certainly. God how I wish she was willing to make that kind of move. The fact is though, at this point…at this time, I am willing to work for anyone who can defeat Obama. And I am. When I speak of we – when I let you know I’m not the only one involved in trying to secure at the very least a real choice for 2012 – we aren’t all Democrats. There are Republicans involved. There are business leaders now involved – some of them who like me, strongly supported the president back in 2008 but have since been shocked and dismayed to see just how inept and dangerous he is to this country…(Long pause) There is something I have wanted to reveal to you but always pulled back because I was never quite certain of it’s a basis in reality. It was a rumor, or even a rumor of a rumor back in 2008 that at the time I laughed off as stupid conspiracy bull****. Ironically the kind of description a lot of people probably label your publishing of our little talks as. Remember when I told you about the “McCain the campaign” strategy that the Democrats, working in conjunction with certain media figures, pulled off during the Republican primaries? How we actually worked to make John McCain the nominee?

Q: Yes. What about it?

A: That was only half the equation. At least that’s how it was presented to me. I know about the “McCain the campaign” strategy first hand. I played a bigger role in that than I originally revealed to you. But the other part…that’s not my world. I don’t know if what I was told was legit or just…at the time it was crazy. But then…damned if it didn’t happen. Thing is, for it to happen would have taken help by Republicans at the time.

Q: Ok – get to it then. What happened? Or what were you told happened?

A: The collapse. The economic collapse in the fall of 2008. Before that what was the biggest subject during the early parts of the campaign? It wasn’t the economy, it was the war. It was foreign policy. Now I know this because I saw the internals from both sides. That was the issue that had both camps, the McCain and the Obama teams, being told to work on. That of course favored McCain, and those same internals were showing that to be the fact. Barack Obama, like most other areas, had almost no experience in foreign policy, and the campaign team went through scenario after scenario trying to figure out how to minimize that situation. Nothing worked. Historically, if the voters are concerned about foreign policy, concerned about safety, law enforcement, military strength – who do they vote for?

Republicans.

A: Exactly. And that is what every internal was coming back to us with, and it had the higher ups in the campaign very concerned to the point of panic. So…something had to be done. The dynamic had to altered.

Q: Stop for a minute. If foreign policy was the primary concern, why would the Democrats have helped secure McCain as the Republican nominee if that was his strength? Wouldn’t that be a huge mistake?

A: Great question. And you’re absolutely right – it was a terrible miscalculation by the Obama camp. We thought the war would prove unpopular enough that McCain would get hammered on it. He’s not a strong public speaker, and the campaign team was convinced that the Senator, – then Senator Obama, would be able to strike political gold on that. It didn’t pan out. The surge was working, McCain had the foreign policy credentials, and the Obama campaign was scrambling to redefine what the defining issue would be in November. I was told there would be a change in the economy. Not by chance. A directed change in the economy. And the first time I heard this, the primary battle between Clinton and Obama was still going strong.

Q: How would that be possible?

A: That’s what I said back then. Having the media push McCain as the nominee – that I understood. Both sides had initiated that kind of maneuvering before. But to alter the economy…that seemed…unlikely to me at the time. But that is what they did.

Q: Who?

A; Right. Who? It had to be somebody with a lot of influence in both political parties, because the Republicans in power at the time were the ones to get the ball moving in the direction the Obama people needed. What I can say for certain is that big money – very big money, was rolling into the Obama campaign by then. The investment had been made, and their boy needed to be the next president to get a full return on that investment, right? It sounds crazy. Yeah – I know. Believe me, I ignored the talk. The rumors, and I just did my job. But then it happened. The market crashed, and overnight, the national dialogue turned almost entirely onto the economy. Obama’s polling jumped. McCain dropped and he never recovered. Bear Stearns…that was – I believe that was intentional to favor either Hillary or Obama. I really do. I don’t have verification of it…the people who could do that kind of thing live in a world far away from my own, but that is what I think, and even back then, the thought crossed my mind and stayed there. And after Bear Stearns, after Obama was the nominee, we saw the collapse in the fall of 2008 – a classic October surprise. There was nothing the McCain campaign could do to win that election. Nothing – and we all knew it. The economy had been made the defining issue of the election – just as I had earlier been told it would.

Q: Hold on here…you are saying Republicans – people in the Republican Party, helped to elect Barack Obama? That they were in on this plan? That’s outrageous and seems very improbable. Sorry, but this scenario you’re laying out…it’s crazy.

A: Yeah – it is. But why are you so willing to believe when Democrats are playing dirty politics, but not Republicans? Open your eyes. I was told they were going to make the economy the issue to decide the campaign. Prior to the economic crash that seemed highly unlikely. The economy was hurting, there were certainly some warning signs, but before September and October 2008, it didn’t look anywhere close to what eventually happened.

Do you remember Bear Stearns? It was bailed out in the spring of 2008 – when the primary races were still going on. Do you know who initiated that bailout? There was involvement by the Bush administration of course – but who initiated the actual bailout? Who directed it?

Q: I don’t know. Who?

A: Don’t feel bad – most people couldn’t answer that question. It’s that kind of ignorance that allows political operatives to keep spinning the machine around and around. People tune out. Most don’t really want to know the answers.

Q: So who initiated the bailout?

A: Timothy Geithner – our current Secretary of the Treasury. A guy who has mishandled his position at Treasury since day one…yet there he remains.

Q: Geithner wasn’t Secretary of the Treasury in spring of 2008…that was—(interrupted)

A: Right…he wasn’t Secretary of the Treasury in 2008. He was Chairman of the New York Federal Reserve. And it was in that position Timothy Geithner initiated the bailout of Bear Stearns – its cannibalization by rival JP Morgan, and the use of tens of billions in Federal Reserve funding to do so. Geithner testified before a Senate committee shortly after the bailout and defended it as essential to saving the economy. He stated that if the saving of Bear Stearns had not occurred, the stock market and housing prices would fall dramatically.

Q: So? You’re losing me here. What does this have to do with the economy – the campaign, in 2008?

A: It has everything to do with it. I didn’t connect it all then, but I do now. It’s been explained to me in terms I could understand, by someone who would certainly have been in the position to know. Part of the “We” I refer to regarding defeating Obama in 2012. Give me a chance here – I will do my best to explain my understanding of it.

So Timothy Geithner, as Chairman of the New York Federal Reserve, with assistance from Chairman of the Federal Reserve Ben Bernanke, and then-Secretary of the Treasury Henry Paulson, himself the former head of Goldman Sachs. The same Goldman Sachs that would later donate a million dollars to the Obama campaign and help elect him President of the United States. These are investors we are talking about here – you understand what I’m saying, right? And do you know who donated almost $800,000 to the Obama campaign? JP Morgan – the same institution Timothy Geithner helped to acquire Bear Stearns at a rock bottom rate with an additional $30 billion dollar credit line via the Federal Reserve. Are you keeping up now?

I’m with you – keep going.

A: So we have Timothy Geithner and the Federal Reserve, acting in conjunction with some of the largest and most powerful financial institutions working to, if Geithner’s testimony at the time is to be believed, “saving the American economy.” And these same financial institutions then begin to funnel millions in campaign contributions to the Obama campaign. Then fast forward to the fall of 2008. What happened then?

I don’t know. Just keep talking and if I have a question I’ll let you know.

A: Lehman Brothers. In September of 2008, at a time when John McCain is still edging out Barack Obama many of the national polls, Lehman Brothers is allowed to collapse. Unlike Bear Stearns, the Federal Reserve does not intervene. Nor does Paulson from Treasury. Lehman Brothers collapses, and the entire financial system freezes up. The stock market tumbles, John McCain is caught flat footed, while the Obama campaign, its campaign messaging, appears as if was prepared ahead of time for the collapse. McCain drops in the polls, Obama rises, and a man the country hardly knows anything about, is elected President of the United States. And who is then made Secretary of the Treasury – none other than the same man who saved one financial institution, while ignoring another – an act that directly benefited the campaign of the man who would then place him in one of the most powerful and influential positions in the world. And despite numerous blunders, Timothy Geithner remains in that position to this day. Another keeper of secrets.

And what followed after that? Billions and billions in funds to these financial institutions. Easy money policies. Broad expansion of Federal Reserve powers. One hand washed the other…

Q: You make the Obama administration sound like big money Republicans.

A: That’s a stupid thing to say. Power doesn’t discriminate between one political party over the other. I’ve seen that proven true so many times I can’t recall when it wasn’t a fact of my own life, such as it is. Big money deemed Obama was to be their candidate of choice because he was likely the most open to policies that would make them the greatest profit and enjoy the most influence. I also believe they thought him to be easily controlled. They were partly right. Barack Obama is easily controlled, but what they failed to recognize, is that Valerie Jarrett is not. She has been molding Obama in her own political likeness for too long to allow others to alter the course she has set out for him. That b-tch has been off the Democratic Party reservation since day one. Day one!

Jarrett is Obama’s greatest weakness though. His vulnerability. Valerie Jarrett – she has burned so many bridges in the financial community. So many in the business community. Her Chicago version of government-business cooperation has not been well received outside of Chi-town. And so, some of those former big money donors are seeking alternative political investment to Obama. Not all of them – not yet. But some. And the knowledge they have to what is going on inside the Obama White House is…impressive.

First up is Eric Holder. He is gonna fall. Watch for Holder news – it’s coming. They are gonna fight hard to keep him in there. He’s done a hell of a job keeping the lid on so much sh-t. But that’s about to change. I ain’t saying I trust Issa, but it’s been explained to me that he knows that he’s doing and it’s getting done. So ok…I’ll see if that’s the case. Then it’s on to 2012 with the information in hand that will be the result of Holder stepping down from the DOJ. It’s gonna be a race to get it out there before the election, but we sure as hell are gonna try. And even if Obama manages to get his re-election, we will cripple him politically…we will trip him up enough, that his second term will be nowhere near the threat to the country that this one has been. And he may not be able to complete that second term. The information that will be forced into the hands of the media, the people, the party leaders, the donors…the man thinks he’s under political pressure now? Just wait. They made a big mistake, and we got them. We got them…
 
Waiting to get back into Silver and Gold around $35 / $1490
:)QUOTE]Have entered back into Xau/usd and Xag/usd positions at the following prices.

Xag/usd $34.98938

Xau/usd $1493.321
3 position average
:)


Treasury to tap pensions to help fund government
By Zachary A. Goldfarb, Published: May 15
http://www.washingtonpost.com/busin...rnment/2011/05/15/AF2fqK4G_story.html?hpid=z1

The Obama administration will begin to tap federal retiree programs to help fund operations after the government lost its ability Monday to borrow more money from the public, adding urgency to efforts in Washington to fashion a compromise over the debt.

Treasury Secretary Timothy F. Geithner has warned for months that the government would soon hit the $14.3 trillion debt ceiling — a legal limit on how much it can borrow. With that limit reached Monday, Geithner is undertaking special measures in an effort to postpone the day when he will no longer have enough funds to pay all of the government’s bills.

Geithner, who has already suspended a program that helps state and local government manage their finances, will begin to borrow from retirement funds for federal workers. The measure won’t have an impact on retirees because the Treasury is legally required to reimburse the program.

The maneuver buys Geithner only a few months of time. If Congress does not vote by Aug. 2 to raise the debt limit, Geithner says the government is likely to default on some of its obligations, which he says would cause enormous economic harm and the suspension of government services, including the disbursal of Social Security funds.

Many congressional Republicans, however, have been skeptical that breaching the Aug. 2 deadline would be as catastrophic as Geithner suggests. What’s more, Republican leaders are insisting that Congress cut spending by as much as the Obama administration wants to raise the debt limit, without any new taxes. Obama is proposing spending cuts and tax increases to rein in the debt.

“Everything should be on the table, except raising taxes,” House Speaker John Boehner (R-Ohio) said on CBS’s “Face the Nation.” “Because raising taxes will hurt our economy and hurt our ability to create jobs in our country.”

The Obama administration has warned that it is dangerous to make a vote on raising the debt limit contingent on other proposals. But Boehner is demanding that Congress use the debt vote as a way to bring down government spending.

“I’m ready to cut the deal today,” Boehner said. “We don’t have to wait until the 11th hour. But I am not going to walk away from this moment. We have a moment, a window of opportunity to act, because if we don’t act, the markets are going to act for us.”

Geithner’s plan to tap federal retiree programs as a temporary means to avoid a government default comes as the Obama administration has shown growing interest in altering those programs to curb the debt in the long run.

Administration officials have expressed interest in raising the amount that federal employees contribute to their pensions, sources told The Washington Post.

The Republicans have suggested that the civilian workforce contribute more to its retirement in the future, effectively trimming 5 percent from salaries. The administration has not been willing to go that far in talks being led by Vice President Biden.

Treasury secretaries have tapped special programs to avoid default six times since 1985. The most protracted delay in raising the debt limit came in 1995 after congressional Republicans swept to power during the Clinton administration.

But today, the government needs far more money to cover its obligations than in the past, making the special measures less effective than they used to be. The government needs about $125 billion more a month than it takes in each month.

In a letter released last week to Sen. Michael Bennet (D-Colo.), Geithner wrote that a default would risk a “double-dip” recession.

“Default would not only increase borrowing costs for the federal government, but also for families, businesses and local governments — reducing investment and job creation throughout the economy,” Geithner wrote.

But several prominent congressional Republicans have dismissed the Obama administration’s assertion that the country would face dire consequences if Congress does not vote to raise the federal limit on government borrowing by August. Many of the skeptics are affiliated with the tea party.

In the Senate, freshman Sen. Pat Toomey (R-Pa.) has said the Obama administration has been exaggerating the effects of hitting the default mark. He says breaching the limit would cause only a partial government shutdown.

Other freshman Republicans have said that Geithner could raise money to avoid defaulting by selling investments in private companies. The Republican Study Committee, which represents more than 150 lawmakers, sent a letter to Geithner last week pressing for more details about the Aug. 2 deadline.
 
Last edited:
Congress To Vote On Declaration Of World War 3 — An Endless War With No Borders, No Clear Enemies
Posted by Alexander Higgins - May 15, 2011 at 4:24 pm
http://blog.alexanderhiggins.com/20...ar-3-endless-war-borders-clear-enemies-22785/

The United States Congress is set to vote on legislation that authorizes the official start of World War 3.
The legislation authorizes the President of the United States to take unilateral military action against all nations, organizations, and persons, both domestically and abroad, who are alleged to be currently or who have in the past supported or engaged in hostilities or who have provided aid in support of hostilities against the United States or any of its coalition allies.

The legislation removes the requirement of congressional approval for the use of military force and instead gives the President totalitarian dictatorial authority to engage in any and all military actions for an indefinite period of time.

It even gives the President the authority to launch attacks against American Citizens inside the United States with no congressional oversight whatsoever.

Just to recap, because that was a mouthful:

•Endless War – The war will continue until all hostilities are terminated, which will never happen.
•No Borders – The president will have the full authority to launch military strikes against any country, organization or person, including against U.S citizens on U.S soil.
•Unilateral Military Action – Full authority to invade any nation at any time with no congressional approval required.
•No Clearly Defined Enemy – The US can declare or allege anyone a terrorist or allege they are or have been supporting “hostilities” against the US and attack at will.
•Authorization To Invade Several Countries – The president would have full authority to invade Iran, Syria, North Korea, along with several other nations in Africa and the Middle East and even Russia and China under the legislation all of which are “know” to have supported and aided hostilities against the United States.
The Hill writes:

House Dems protest GOP’s plans for permanent war against terror
Nearly three dozen House Democrats are calling on Republicans to withdraw a section of the 2012 defense authorization bill that they say would effectively declare a state of permanent war against unnamed Taliban and al Qaeda operatives.

A Tuesday letter from House Judiciary Committee Chairman John Conyers Jr. (D-Mich.) and 32 other Democrats argues that affirming continued war against terrorist forces goes too far, giving too much authority to the president without debate in Congress.

Their letter cites language in the authorization bill that incorporates the Detainee Security Act, which affirms continued armed conflict against terrorists overseas.

“By declaring a global war against nameless individuals, organizations and nations ‘associated’ with the Taliban and al Qaeda, as well as those playing a supporting role in their efforts, the Detainee Security Act would appear to grant the president near unfettered authority to initiate military action around the world without further congressional approval,” Democrats wrote. “Such authority must not be ceded to the president without careful deliberation from Congress.”

The specific language in the bill is found in section 1034 of H.R. 1540, which affirms that the U.S. is “engaged in an armed conflict with al Qaeda, the Taliban and associated forces.” It also affirms that the president has the authority to detain “certain belligerents” until the armed conflict is over.

“Al Qaeda, the Taliban and associated forces still pose a grave threat to U.S. national security,” the bill says. “The Authorization for Use of Military Force necessarily includes the authority to address the continuing and evolving threat posed by these groups.”

The America Civil Liberties Union writes:

New Authorization of Worldwide War Without End?
Congress may soon vote on a new declaration of worldwide war without end, and without clear enemies. A “sleeper provision” deep inside defense bills pending before Congress could become the single biggest hand-over of unchecked war authority from Congress to the executive branch in modern American history.

President Obama has not sought new war authority. In fact, his administration has made clear that it believes it already has all of the authority that it needs to fight terrorism.

But Congress is considering monumental new legislation that would grant the president – and all presidents after him – sweeping new power to make war almost anywhere and everywhere. Unlike previous grants of authority for the Afghanistan and Iraq wars, the proposed legislation would allow a president to use military force wherever terrorism suspects are present in the world, regardless of whether there has been any harm to U.S. citizens, or any attack on the United States, or any imminent threat of an attack. The legislation is broad enough to permit a president to use military force within the United States and against American citizens. The legislation contains no expiration date, and no criteria to determine when a president’s authority to use military force would end.

Of all of the powers that the Constitution assigns to Congress, no power is more fundamental or important than the power “to declare War.” That is why, in 2002, when Congress was considering whether to authorize war in Iraq, it held fifteen hearings, and passed legislation that cited specific harms, set limits, and defined a clear objective. Now, Congress is poised to give unchecked authority to the executive branch to use military force worldwide, with profoundly negative consequences for our fundamental democratic system of checks and balances. Once Congress expands the president’s war power, it will be nearly impossible to rein it back in. The ACLU strongly opposes a wholesale turnover of war power from Congress to the president – and all of his successors.

Coalition Memo to the House Committee on Armed Services Regarding a Proposed New Declaration of War
Comparison of 2001 Authorization for Use of Military Force and Proposed Expanded Authorization
The offending text (Here In The Full Text Of H.R. 1540 – section 1034) uses doublespeak to declare World War 3. Specifically, the text uses the phrase “affirms” “armed conflict” which is the terminology used by congress declare war in every war since World War 2.

Congress affirms that —

(1) the United States is engaged in an armed conflict with al-Qaeda, the Taliban, and associated forces and that those entities continue to pose a threat to the United States and its citizens, both domestically and abroad;

(2) the President has the authority to use all necessary and appropriate force during the current armed conflict with al-Qaeda, the Taliban, and associated forces pursuant to the Authorization for Use of Military Force (Public Law 107–40; 50 U.S.C. 1541 note);

(3) the current armed conflict includes nations, organization, and persons who—

(A) are part of, or are substantially supporting, al‐Qaeda, the Taliban, or associated forces that are engaged in hostilities against the United States or its coalition partners; or

(B) have engaged in hostilities or have directly supported hostilities in aid of a nation, organization, or person described in subparagraph (A); and

(4) the President’s authority pursuant to the Authorization for Use of Military Force (Public Law 107–40; 50 U.S.C. 1541 note) includes the authority to detain belligerents, including persons described in paragraph (3), until the termination of hostilities.



A joint letter regarding the proposed legislation has been sent to congress condemning the proposed legislation.

MEMORANDUM
TO: All Members of the House Committee on Armed Services
FROM: American Civil Liberties Union
Appeal for Justice
Brave New Foundation
Center for Constitutional Rights
CREDO Action
Defending Dissent Foundation
High Road for Human Rights
Human Rights First
International Justice Network
Just Foreign Policy
Leadership Conference of Women Religious
MoveOn.org
Muslim Public Affairs Council
New Security Action
Pax Christi USA
Peace Action
Physicians for Human Rights
Psychologists for Social Responsibility
Shalom Center
Unitarian Universalist Association of Congregations
United Methodist Church, General Board of Church and Society
USAction
Win Without War
DATE: May 9th, 2010
RE: Oppose Section 1034 and Any Similar New Declaration of War or New Authorization for Use of Military Force in the National Defense Authorization Act

The undersigned organizations strongly oppose the new Declaration of War, which is in Section 1034 of the Chairman’s mark for the National Defense Authorization Act (“NDAA”). We urge you to oppose the provision and any other similar new Declaration of War or new Authorization for Use of Military Force (“AUMF”) in the NDAA.

While we have written separately, and met with many of you and your military legislative assistants, on our concerns with other provisions of the Chairman’s mark, we are writing on this new Declaration of War specifically because it is a provision that has received almost no review, despite its likely tremendous effect on almost every facet of United States national security policy. At minimum, Congress should hold hearings andfollow regular order before even considering such sweeping legislation.

This monumental legislation–with a large-scale and practically irrevocable delegation of war power from Congress to the President–could commit the United States to a worldwide war without clear enemies, without any geographical boundaries (the use of military force within the United States could be permitted), and without any boundary relating to time or specific objective to be achieved. Unlike the AUMF that authorized the Afghanistan War and the pursuit of Osama bin Laden, the proposed new Declaration of War does not cite any specific harm, such as the 9/11 attacks, or specific threat of harm to the United States. It appears to be stating that the United States is at war wherever terrorism suspects reside, regardless of whether there is any danger to the United States.

Under the guise of a “reaffirmation” of authority, Section 1034 of the Chairman’s mark for the NDAA would give the President unchecked authority–and if the section constitutes a declared “war,”1 possibly the unchecked duty2 –to use military force worldwide against or within any country in which terrorism suspects reside. The proposed new Declaration of War would be without precedent in the scope of war authority or duties transferred by Congress to the President:

•The President would be able to use this authority–or might be required to use this authority–regardless of whether there has been any harm to United States citizens, or any attack on the United States or any imminent threat of any attack. There is not even any requirement of any threat whatsoever to the national security of the United States.
•There is no geographical limitation–the new Declaration of War has no specification of countries against which military force could be used, and no specification of countries where U.S. armed forces could be deployed with or without the permission of the host country. Military force could even be used within the United States and against American citizens.
•There is no specific objective for the new Declaration of War, which means that there is no clear criteria after which the President’s authority to use military force would expire. Although the proposed new Declaration of War lists “al-Qaeda, the Taliban, and associated forces” as the “threat,” there is no definition for any of these entities, which historically have been amorphous, with shifting names, memberships, and organizational relationships.
•If Congress broadly turns over to the President the power that Article I of the Constitution provides to Congress to declare war, it very likely will never get the power back. The broad terms of the proposed new Declaration of War could last for decades.
•Whether Congress realizes it or not, the proposed new Declaration of War would authorize the President to use the United States military against countries such as Somalia, Iran, or Yemen, or send the American military into any of the scores of countries where suspected terrorists reside, which include not only nearly all Middle East, African, and Asian countries, but also European countries and Canada–and of course, the United States itself. Under the expansive terms used for organizations in the proposed new Declaration of War, targets could include suspects having no connection to the 9/11 attacks or to any other specific harm or threat to the United States. The President would have the power to go to war almost anywhere, at any time, and based on the presence of suspects who do not have to pose any threat to the national security of the United States.
•If Section 1034 of the Chairman’s mark for the NDAA constitutes a declaration of war–which Congress has not declared since 1942–the declaration would trigger various exemptions from federal statutes and even broader authority for the President to control more aspects of both government and private businesses. The March 17, 2011 report from the Congressional Research Service, “Declarations of War and Authorizations for the Use of Military Force: Historical Background and Legal Implications,” lists all of the statutory provisions, ranging from exemptions from budgetary limitations to new government claims over oil and mineral resources, that are triggered by a declaration of war.
•Of course, if Congress believes that there is a significant new threat to the national security of the United States that requires significant military force as a response, it can declare war or enact a new AUMF, but Congress should, at minimum, follow what it did in 2002 with the AUMF for the Iraq War, where it held fifteen hearings on the proposed war and passed an AUMF that cited specific harms, set limits, and defined a clear objective that, if met, would effectively terminate the AUMF. A specific declaration of war or a specific AUMF would better preserve the system of checks and balances and make an endless, worldwide war less likely.
To be clear, President Obama has not sought enactment of the proposed new Declaration of War. To the contrary, his Administration has made clear its position that it believes it already has all of the authority that it needs to fight terrorism. But if the proposed new Declaration of War becomes law, President Obama and all of his successors, until and unless a future Congress and future President repeal it, will have the sweeping new power to make war almost anywhere and everywhere.

Of all of the powers that Article I of the Constitution assigns to Congress, no power is more fundamental or important than the power “to declare War.” We urge you to use this power carefully, and to oppose this wholesale turnover of war power, without any checks–and without even holding a single hearing. Thank you for your attention to this issue, and we would be pleased to meet with you or your staff to discuss our concerns further.

1 The most critical sentence of section 1034 of the Chairman’s mark for the NDAA is “Congress affirms that the United States is engaged in an armed conflict with al-Qaeda, the Taliban, and associated forces and that those entities continue to pose a threat to the United States and its citizens, both domestically and abroad.” If “affirms” is replaced with the synonym “declares” and “armed conflict” is replaced with the synonym “war,” the result is “Congress declares that the United States is in a war with al-Qaeda, the Taliban, and associated forces . . . “, which is very similar to the declaration of war clauses of the eleven declarations of war made by Congress, from the War of 1812 through World War II. Since 1942, Congress has passed several authorizations for use of military force, but has not made any declarations of war.

2 Although the question of whether a declaration of war imposes a duty on the President to carry out the war has only rarely come up in court decisions, at least one federal court, in comparing the legal consequences of a declaration of war with an authorization for use of military force, stated, “If war existed why empower the President to apprehend foreign enemies? War itself placed that duty upon him as a necessary and inherent incident of military command.” Gray v. United States, 21 Ct. Cl. 340, 373 (1886) (emphasis added).

The bill has many other shocking elements as well, such as the requirement that all arrests related to terrorism be treated as military arrests (section 4), thus circumventing the constitution. Furthermore, legislation introduce under the McCain bill would make it illegal for military prisoners in US overseas torture prisons to be returned to US Facilities.

Indeed, the moment we all feared has come before us as the Congress meddles giving the President absolute power over the military, including the authority to launch military strikes within the United States against U.S. Citizens. With the assassination of Osama Bin Laden on Pakistan soil many of were naïve in believing that the War on Terror would come to an end.

Instead, the reported success of the raid is being used as a crutch to push through new legislation in the defense bills up for vote before congress which literally authorize World War 3, which will be declared as an endless war with no defined enemies and no borders. Short of committing genocide the termination of the hostilities will never come and as such the war will never come to end.

We have already learned that officials falsified reports that Saddam Hussein had weapons of mass destruction to justify the invasion of Iraq for the “prize” of oil. If a whole government of top officials can not be trusted then surely a single president cannot be trusted either.



We have seen the U.S Government turn Nazi and buy and burn every copy of a book that had evidence of a 9/11 coverup. The Department of Justice has already published a memo calling constitutionalists and survivalist as potential terrorists.

Is it not bad enough that the U.S courts have already legalized the abduction of U.S Citizens along with their indefinite detention and torture in overseas prison camps? Or that the U.S Government openly admits to gunning down, kidnapping and torturing American college students?

Under the definition of the legislation, the President could authorize the military to attack the ACLU building because they have supported the “terrorists” by arguing for their civil rights.

It will not be long before they are assassinating activists. The have already labeled conspiracy theories as “dangerous thoughts that could lead to violence” and have even specifically called The Intel Hub, which routinely publishes my articles, as an echo chamber pushing out these “dangerous thoughts that could lead to violence”.

Uncle Sam openly admits to turning its multi-billion dollar espionage network against U.S Citizens which has produced such great fruits as innocent activists exercising their first amendment rights being placed on the terrorist watch list by the FBI and DHS.

Seriously, this is so out of control and it is only a time that the World War 3 is being fought against you and me. Just remember as long as we are in a state of war your civil liberties and constitutional rights are pretty much null and void, only enforceable if the Government allows you to have them. Even then, they can declare you as a terrorist, enemy combatant or a threat to national security to revoke your constitutional rights anyway. Then they can play the national security card when they are asked to explain their allegations.

All around this is rotten and the first step to getting our rights back is to end the perpetual wars.

Contact your congressman and tell them No Way To this egregious bill!


--------------------------------------------------------------------------------

Update – Here is some corporate media coverage of this story, since some people like to see it in the mainstream media to believe it.

Salon:

Critics: GOP bill a declaration of constant war
House Republicans want to reaffirm war against al-Qaida, the Taliban — and anyone else — with controversial bill
Republican chair of the Armed Services Committee, Howard McKeon, R-Calif., revealed The National Defense Authorization Act on Monday, which includes a bill renewing an act passed just days after 9/11, the Authorization for the Use of Military Force (AUMF). AUMF gave then-President George W. Bush carte blanche to hunt down the 9/11 perpetrators and their allies. The renewed bill, however, makes no reference to the 9/11 attackers and some critics have called it “the first full-scale declaration of war by the U.S. since World War II,” since it makes no reference to the capturing of parties guilty of a specific act. Indeed, the section of The National Defense Authorization Act under question here is called the Declaration of War.

According to POLITICO:



The new language drops any reference to 9/11 and “affirms” a state of “armed conflict with al-Qaeda, the Taliban and associated forces.” The measure also explicitly gives the president the right to take prisoners “until the termination of hostilities” – something the courts have found to be implicit in the current version of the AUMF, though the new proposal could be seen to extend that power.

The argument from proponents of the Republican-backed bill is that, in the decade since AUMF was enacted, terror groups with no connection to 9/11 have come into the picture. Critics say such terror suspects should be dealt with using law enforcement and that we should not be affirming a commitment to war without specific aims or boundaries. The bill would also give the president the ability to attack an individual, group, or nation without Congressional approval.

The Daily Paul:

ALERT: Congress is About to Vote on Worldwide War Authority
The time is now to restore respect for the Constitution. Tell Congress that a blank check on war isn’t just unnecessary — it’s truly dangerous.

They have to be kidding. Congress is about to vote on worldwide war authority. This was long on the Bush administration’s wish list. Now, a few top congressional insiders see an opportunity to sneak it in to a “must pass” piece of legislation: the Defense Authorization bill.

This expanded war authority would give the president — any president — the power to use military force, whenever and however he or she sees fit. It would essentially declare a worldwide war without end.

It is shocking that Congress is entertaining such legislation at a time when many are looking to see an end to escalating conflict and abuses of power in the name of fighting terrorism.

ACLU Petition

Oppose New Worldwide War Authority
A few top congressional insiders are aiming to sneak new worldwide war authority in to a “must pass” piece of legislation: the Defense Authorization bill.

This new war authority would give the president — any president — the power to unilaterally take our country to war wherever, whenever and however he or she sees fit. It would essentially declare a worldwide war without end.

It is shocking that Congress is entertaining such legislation at a time when many are looking to see an end to escalating conflict and abuses of power in the name of fighting terrorism.

Take action! Tell your representative to oppose new worldwide war authority.

Politico:

GOP seeks to redefine war on terror
A little over a week after the United States finally succeeded in its long-sought goal of killing Osama bin Laden, Congress is set to engage in a debate over whether to extend the war on terror indefinitely or leave in place legislation that could eventually wind it down.

Enacted over a lone dissenting vote just three days after the 2001 attacks on the World Trade Center and Pentagon, the “Authorization for the Use of Military Force,” or AUMF, authorized President George W. Bush to use “all necessary and appropriate force” against those involved in the 9/11 attacks as well as anyone who harbored the perpetrators.



The new language drops any reference to 9/11 and “affirms” a state of “armed conflict with al-Qaeda, the Taliban and associated forces.” The measure also explicitly gives the president the right to take prisoners “until the termination of hostilities” – something the courts have found to be implicit in the current version of the AUMF, though the new proposal could be seen to extend that power.



But critics say the Republican-sponsored measure amounts to the first full-scale declaration of war by the U.S. since World War II – at a moment when counter-terrorism efforts are succeeding, the U.S. is withdrawing from Iraq, and about to begin a withdrawal from Afghanistan. And, they say, it gives Obama and any successor carte blanche to attack any individual or any nation without further approval from Congress.

The Wall Street Journal.

Defense Bill Would ‘Affirm’ War With al Qaeda
Even though Osama bin Laden is dead, Rep. Howard “Buck” McKeon (R., Calif.) wants to remind Washington: The war on terror ain’t over.

House Armed Services Committee Chairman Rep. Howard McKeon (R., Calif.) (AP Photo/Susan Walsh)

And with that in mind, Rep. McKeon, who chairs the House Armed Services Committee, is pushing for Congress to renew the 2001 authorization to use military force against terrorists.

The chairman on Monday revealed his version of the National Defense Authorization Act for fiscal 2012, and his mark of the bill includes a provision that “would affirm that the United States is engaged in an armed conflict with al-Qaeda, the Taliban, and associated forces.”

Critics say provisions in the bill are tantamount to a congressional declaration of war that could give the president broad new powers over private business and government spending.

One provision seeks to bolster the Authorization for Military Force, passed by Congress in the aftermath of the Sept. 11, 2001, terror attacks, which the Bush and Obama administration have used as legal authority to conduct military and intelligence operations in Afghanistan and other countries where al Qaeda affiliates have sprung up.

The American Civil Liberties Union and more than a dozen mostly left leaning groups wrote a letter to members of the House Armed Services Committee to oppose the “reaffirmation” saying that it essentially declares war and gives broad powers to the president that normally belong to Congress.
 
Have entered the following positions for the week.

Eur/gbp
Buy 0,8381.3

Gbp/chf
Sell 1,4431.3

Gbp/usd
Sell 1,5750.2


Bob Chapman - A Marines Disquisition - Feb. 9, 2012 - YouTube


Doomsday Report: THREE MILLION PREPPERS IN AMERICA Are Getting Ready For The End of the World As We Know It

By Mac Slavo
SHTFplan.com
February 11th, 2012

In the autumn of 2008, as Presidential hopefuls sparred over whether we had entered a recession or not and well before the onset of the most serious global crisis since the 1930′s, trend forecaster Gerald Celente advised his Trends Journal subscribers to prepare for the worst and plan for the best.

“It will be,” warned Celente, “like nothing we’ve ever seen in our lifetime.”

The aware and prepared … those understanding just how out of control society would become, and those who had acquired the skills for survival would stand the best chance of navigating the chaos safely.

But Americans were not prepared. Not by a long shot

Very few had the foresight to predict that the economic system and social fabric of our nation would be threatened with upheaval and disarray.

But some, whether through independent education or through intuition, deduced that there was a real possibility of a system shock so significant that life as we know it could be on the verge of a major paradigm shift – perhaps even a complete collapse of our economy and resource infrastructure.

As natural disasters around the world took the lives of hundreds of thousands, space agencies warned of solar disruptions that threaten our power grid, the economies of the world slid further into depression, and tensions between the world’s financial and resource super powers grew, more and more people began to realize that the stability we have come to depend on to live our daily lives was nothing but illusion.

With very few places to turn for support, most headed for the internet, where communities had popped up to discuss possible disaster and collapse scenarios, and ways to minimize the impact on oneself and family. That it was happening or could happen was no longer the question.

The real question was how to survive it when it finally came to pass.

With none of us ever having experienced (or even imagined) such a possibility before, many turned to guidance from experts in their fields – people like Gerald Celente or Marc ‘Dr. Doom’ Faber, who had an uncanny ability to see developing trends, and authors like survival expert James Rawles who wrote the popular economic collapse and survival cult classic Patriots and William Forstchen who penned One Second After, a frighteningly realistic look at what life without the grid might look like.

First it was thousands, then tens of thousands of concerned Americans who began learning the essentials of survival by learning from each other with resources offered at web destinations like the American Preppers Network, Doctor Prepper, Survival Mom, Off Grid Survival and Ready Nutrition.

Those who chose to insulate themselves against coming disaster were often vilified or dismissed as lunatics by friends and family alike. And while many chose to ignore the trend which had become quite apparent, those who had the willingness to consider a different reality than had been painted by the powers that be just kept on preppin’.
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As global malaise continued and the people began to lose confidence in political platitudes and corporatist solutions, the movement towards preparedness, survival and self reliance grew.

After having seen what took place in New Orleans after Hurricane Katrina, many came to the conclusion that if the worst were to happen there would be no government to help, no 9-1-1 to call, and no emergency management agency to distribute food or water.

Today, at the cusp of possibly the most trying times in human history, more Americans than ever before are preparing for the possibility of disaster.

As many as three million Americans now fall into the category dubbed ‘preppers’ – people who are making detailed plans for the end of the world as we know it.

The preppers are an ever-growing group of survivalists who take extreme measures to prepare for a major catastrophic event.



More than 300,000 people a month visit the movement’s website, survivalblog.com, which catalogues how people are preparing for the worst.

The website has been set up by James Rawles, a former US Army intelligence officer, who is one of the movement’s leading figures.

Speaking to The Times, he said: ‘Should the worst happen, it’s become apparent that the Government can’t provide for everybody. And now that realisation is becoming more widespread.‘



‘People invest so much money in life insurance,’ Mr Ralston told National Geographic. ‘This is life assurance.’

He is like some of the people featured on National Geographic’s new show Doomsday Preppers, which chronicles a new prepper each week, delving into their conceptions of the end and what they’re doing to prepare for it.

‘It’s not a hobby, it’s a lifestyle,’ Gloria Haswell told National Geographic. She and her husband spend 50 hours a week getting ready for a climate shift in the poles.



‘These are not just a handful of people living in the mountains,’ National Geographic Channel’s executive vice president of programming Michael Cascio told the Wall Street Journal. ‘They’re everywhere.’



The Journal notes that Nat Geo has begun appealing to a growing subculture that has seen the past disasters – from last year’s tsunami and earthquake in Japan to riots to economic uncertainty – and have wanted to prepare the best they can.

‘The last few years have probably exacerbated the doomsday fear,’ Mr Cascio told the Journal. ‘The world is changing.’

Source: UK Daily Mail

This week the National Geographic series Doomsday Preppers debuted to an audience of four million, a testament to the fact that preparing for disasters – regardless of the kind – is a growing trend, and one that’s popular even among those that have been affectionately dubbed the sheeple.

No doubt some of those watching the show, who never considered the possibility of far-from equilibrium events, will take to preparing right away.

Most seasoned preppers will agree that those first few weeks and months of preparedness are the most stressful, with emotions being described by newbies as anxiety and panic.

For those just getting started, you should feel better knowing that it’s better late than never.

What you may be experiencing today isn’t panic. It’s a sense of urgency, and that’s a positive motivator that can, with focus, drive you to quickly and effectively achieve your goals.

Panic is what we’ll see from those remaining 99% of Americans who have failed to take measures to protect themselves from the coming devastation.
 
Have entered the following positions for the week.

Eur/gbp
Buy 0,8381.3

Gbp/chf
Sell 1,4431.3

Gbp/usd
Sell 1,5750.2
Still holding these open positions.

Eur/gbp -6.2 pips
Gbp/chf +9.3 pips
Gbp/usd +58.2 pips

Average +0.12%

Keiser Report: Tombstone Austerity (E249) - YouTube



http://www.atimes.com/atimes/Global_Economy/NB11Dj01.html
CHAN AKYA
Debt, cash and bonfires
By Chan Akya

So we have a deal. Do we have a deal? We have a deal. Well, kind of, but the finance ministers haven't signed off on it as yet. It may therefore change before you read this. It most certainly will change after you read this, irrespective of whether you read this on the intended publication date (February 10) or many months later. Welcome to the evergreen world of European sovereign debt restructuring.

This week's deal may or may not have been agreed? You see, here's how it is supposed to work. We give the Greeks 130 billion or so - no need to put a currency sign in front of the 130bn because it doesn't really matter. In return, the Greeks agree to 3.3bn of austerity - that is, budget cuts to that extent. No need to put a currency sign in front of this 3.3bn either, because it could



be in baklava for all the good it will do for you anyway.

In any case, the 130 billion will be given to people to whom the Greeks owe money, not to the Greeks themselves. So it will be transferred from the European Central Bank (ECB) offices in Frankfurt through the clearing system in Frankfurt to banks in Frankfurt, and perhaps to the odd bank or two that dare to have branches in Paris or London instead. So to be clear, nothing will go to Athens anyway.

The Greeks also get some book entry adjustments. Instead of owing debt that looks like Mount Everest (this being an Asian publication), they will instead owe debt that looks like Mont Blanc. Even that mountain of debt will be worth, in terms of intrinsic purchasing power thanks to the below-market coupons they have to pay on it now and the next round of defaults, about the same as a pile that is as high as the average speed bump in Singapore but that is the denouement in the next act and one shouldn't rush to it quite yet.

Still with me? Marvellous. So these book entry adjustments are meant to lop 70% (50% from the principal balance and the rest from the losses suffered by the comically low coupon on the now-restructured debt) off the money owed by the Greeks to the private sector creditors, but they will be done voluntarily so that a miniscule amount of credit default swaps (CDS) outstanding on the debt is not "triggered". So an official sitting in Brussels (or is it Strasbourg?) gets to tick a box that says "Destroyed a useful little market that dared to speak the truth about European sovereigns".

Meanwhile, official creditors will get seniority so that they won't have to take any pain from this write-off. So that leaves the International Monetary Fund (IMF) and bilateral government aid donors (step forward, China) without the need to write off their debt. For IMF functionaries, this is useful because you don't have to write 100-page memos to the bosses explaining what happened (even if the situation was caused by those same bosses in the first place). Its even better for the central bankers from Asia or the Middle East because they, quite literally, dodge a bullet for buying Greek debt in the first place. So far, so good.

Except for the ECB, which purchased a bunch of the now-worthless debt of the same stock that was bought by the pirates; oops sorry I mean privates. It isn't allowed to take direct losses because that is the same as providing a financial benefit (this is the world of debt, stop trying to make logical sense of anything) to sovereigns, which the rules don't allow. Instead, the ECB would enter a complicated mechanism wherein it would take its Greek exposure and effectively exchange for paper to be issued by the European Financial Stability Facility (EFSF), which will then package them into an ABCD to sell to WXYZ. Okay, I may have made up the last two acronyms but you cannot be sure of that.

Yes, yes, but what about the contagion risks you ask, especially now that it looks like Portugal will be this year's big casualty. Oh that. Let's not get too wrapped up in it. You see the ECB has now made it easier for national central banks in Europe to accept pretty much any collateral in return for providing money to their banks.

You remember the three-year money supplied by the ECB at 1% in December? Well, there's hundred of billions, if not trillions, more where that came from. So when Portugal hits the reef later this year, its banks will be able to buy government paper, discount back with the national central bank for freshly printed money; and pocket the interest rate differential. Nice living, if you can get the job.

With all that monetary easing on the sly, we are talking hundreds of billions if not trillions. Once we talk numbers that big, the concept of value loses all meaning and you can see why I have insisted on not using currency signs in this article.

The Germans are apparently not too happy because they can't count very well with big numbers and all this talk of billions and trillions is proving quite vexing for them especially as the word "trillion" in German is spelled as "W-e-i-m-a-r". It also gives them a nasty nightmare about the chap who came after the Weimar Republic: a charming gentleman by the name of Adolf Hitler, to save you the trouble of looking up Wikipedia.

In any event, debt frenzy has now caught on in Europe, and there's a billion in bail-out money available for every outstretched hand. Amidst the frenzy, no one wants to listen to the Germans speaking sense. Indeed, the Greeks celebrated the bailout deal by having their national newspapers print images of Nazi flags being raised in Athens; about as clear as they can get about who they consider to be the villains of the piece.

Sheesh! You go and take money out of your pocket to help a fellow man in need and he calls you Nazi for doing that. The Germans are a hardy lot, who have impeccable manners and excellent financial sense. Where do they see this European experiment going now?

Suddenly, and as if the heavens themselves sent a message, we have news from Eastern Europe that provides an answer. With a worsening cold snap through Europe, the authorities in Hungary have taken to sending their cash notes to make fuel billets, that can then be used by the country's poor to burn and keep themselves warm. Cheaper than firewood, coal or natural gas, apparently.

Hungary, you will recall, is the Eastern European miracle economy that suddenly found out that printing loads of debt doesn't add up to an economic miracle. Its old forint aren't worth a lot these days, hence the move by the central bank to do something useful with them. At this rate, there will be surging demand for Zimbabwe dollars all over Europe, as they seek things to burn - such as the paper that Greek government debt is written on, rather than being collectors' items to be hung in people's toilets (I have a nice one from their past round of defaults in mine).
Imagine what the ECB can do with its trillions in euro currency notes in three years time when the next cold snap hits the continent. People from the Middle East and Russia, hoping to sell fuel at outrageous prices to the Europeans, will be sorely disappointed to learn about this new energy source.
 
Last edited:
Have entered the following positions.

Aud/usd buy 1,0726.3

Eur/aud sell 1,2257.9

Eur/chf sell 1,2082.7

Eur/gbp sell 0,8297.5

Gbp/chf buy 1,4570.3

Gbp/usd buy 1,5832.6

Usd/cad sell 0,9923.5

Classic FX 3.0
strategy value -0.83%


Bob Chapman - Erskine Overnight - 18 Feb 2012 - YouTube


How the Technology Behind Nanosecond Trading Could Make Markets Go Haywire
How the Technology Behind Nanosecond Trading Could Make Markets Go Haywire

The afternoon of May 6, 2010 was among the strangest in economic history. Starting at 2:42 p.m. EDT, the Dow Jones stock index fell 600 points in just 6 minutes. Its nadir represented the deepest single-day decline in that market's 114-year history. By 3:07 p.m., the index had rebounded. The "flash crash," as it came to be known, was big, unexpected and scary - and a new study says flash events actually happen routinely, at speeds so fast they don't register on regular market records, with potentially troubling consequences for market stability.

The analysis involved five years of stock market trading data gathered between 2006 and 2011 and sorted in fine-grained, millisecond-by-millisecond detail. Below the 950-millisecond level, where computerized trading occurs so quickly that human traders can't even react, no fewer than 18,520 crashes and spikes occurred. The study's authors call those events "financial black swans," though they're so common that the black swan label probably doesn't fit anymore.

Moreover, those events fell into patterns that didn't fit market patterns seen at other time scales. It's as if computerized trading has created a new world, one where the usual rules don't apply, populated by algorithms and only dimly understood by the people who made them. The extent to which that world influences our own - perhaps making events like the 2010 flash crash more likely, or causing markets to be generally more volatile - is an open question.

"There's this whole world below 650 milliseconds. It's like landing on another planet," said Neil Johnson, a complex systems specialist at the University of Miami and co-author of the study, released Feb. 7 on arXiv. "It's an enormous part of the market which is out of human reach. We have a glimpse of the kind of ecology that's going on down there."

Full size

Red line represents the frequency of sub-650 millisecond flash crashes, and blue the frequency of flash spikes, between January 2006 and February 2011. The black spike is the S&P 500 index. Image: Johnson et al./arXiv

Until recently, trading was the preserve of humans. Imagine a stock market and you likely envision a loud, crowded trading floor, a scene out of Wall Street. But in 1998, after the U.S. Securities and Exchange Commission authorized the first electronic exchanges, computer trading programs entered markets as equals to humans.

The programs are designed to trade enormous volumes of stocks, bonds and other financial instruments at superfast speeds, taking advantage of second-to-second fractional price shifts and market trends. It's now estimated that high-frequency computer trading accounts for 70 percent of all equity trades. While some activity does occur at speeds with which humans can interact, much of it falls beyond the limits of human response time.

(One new computer chip built specifically for high-frequency trading can prepare trades in .000000074 seconds; a proposed $300 million transatlantic cable is being built just to shave 0.006 seconds off transaction times between New York City and London.)

In the early years of computer trading, algorithms were profitable and concerns rare. Designers and investors took their money and didn't think much about what Johnson and co-authors call "ultrafast machine ecology." After the 2010 flash crash, however, mainstream economists wondered if high-frequency trading systems might sometimes get weird and unpredictable. A $4.1 billion automated sale was ultimately blamed for triggering that crash, and economists started asking questions about the new, hazy relationships between machines and markets.

"We are certainly witnessing one of the major transitions in the history of financial markets," said automated trading researcher John Cartlidge of the University of Bristol, who was not involved in new study. "Economic theory has always lagged behind economic reality, but now the speed of technological change is widening that gap at an exponential rate. The scary result of this is that we now live in a world dominated by a global financial market of which we have virtually no sound theoretical understanding."

In the new study, researchers led by Johnson and simulation engineer Brian Tivnan of the University of Vermont analyzed millisecond-scale price logs from 600 markets. The numbers were gathered by Nanex, a Chicago-based company that sells live market data.

'We now live in a world dominated by a global financial market of which we have virtually no sound theoretical understanding.'

From this analysis emerged records of 18,520 sub-950-millisecond crashes and spikes - far more than they, and perhaps almost anyone, expected. Equally as striking as these events' frequency was their arrangement: While market behavior tends to rise and fall in patterns that repeat themselves, fractal-style, in periods of days, weeks, months and years, "that only holds down to the time scale at which human stop being able to respond," said Johnson. "The fractal gets broken."

Why this should happen isn't exactly clear, but the researchers think it reflects differences between human and computer trading strategies. Whereas people have many different strategies, high-frequency programs "sacrifice diversity for speed," said Tivnan. "You see a lot more homogeneity at the sub-second scale than we see above 1,500 ms." In the researchers' models of high-frequency trading markets, a variety of algorithms eventually evolved into a few stripped-down, optimized forms.

With many algorithms converging on just a few different strategies, the high-frequency trading market could become vulnerable to systemwide herd behaviors. Fortunately for us, the market seems to rebound from spikes almost as immediately as they occur - Johnson and Tivnan likened the effect to a "coiled spring" returning to form - but as seen in May 2010, this might not always happen.

Johnson and Tivnan also used another metaphor to describe the flash crashes and spikes: fractures. The events could be imagined as microfractures in the wing of an aircraft, accumulating unnoticeably until some critical, breakage-causing mass is reached. To that end, they found a correlation between rising frequencies of sub-950-ms flash events, market volatility after 2008, and the May 2010 flash crash. The 10 stocks most prone to crash-and-spiking were all financial companies, with Morgan Stanley, Goldman Sachs and Wells Fargo topping the list.

"Lay the occurrences of spikes and crashes against each other on the same timeline, and then look at the movement of a major index like the Standard & Poor's 500. What's particularly interesting is that dramatic increases of spikes and crashes coincided with major movements in the S&P index itself," said Tivnan.

However, it's uncertain whether this correlation reflects a cause-and-effect relationship. It could conceivably be just a coincidence. "The results are provocative, but need more statistical testing to be something you can reliably interpret," said complex systems theorist Doyne Farmer of the Santa Fe Institute, who was not involved in the new study.

Blue bars represent the distribution of different high-frequency trading strategies; red bars represent strategies that could be added at critical points to reduce flash behaviors.

Uncertainties notwithstanding, the paper is still "an extremely important contribution to solve the puzzle of financial complexity," said econophysicist Tobias Preis of the Swiss Federal Institute of Technology, who studies patterns that precede market bubbles. Cartlidge called the paper "timely and important," and said the findings are "likely to have a significant impact on market participants and regulators alike."

The question of regulation is a tricky one. In the aftermath of May 2010, federal U.S. regulators introduced so-called "circuit breakers" that automatically halt trading if a stock price falls too much, too fast. But whether this actually works isn't yet known. "Currently, we're having trouble even observing at that level of resolution, let alone regulating it," said Tivnan.

Tivnan also works for the MITRE Corporation, a nonprofit engineering and technology consultancy that provides research support to U.S. regulatory agencies. Both the U.S. and European Union are actively investigating further intervention in the machine trading world.

Johnson and Tivnan propose a subtler approach than circuit-breakers, one that would "steer" automated markets by introducing rogue algorithms when herd behaviors appear imminent. Farmer wants markets altered to become slower, with trades occurring intermittently - once per second or once even per minute, rather than constantly - and speed de-emphasized. That would allow algorithm designers "to focus on the quality of decision-making, rather than the time it takes," said Farmer, who preaches caution in designing new regulation.

"There's a danger of Europeans doing some changes they haven't thought through, and there's danger of the United States not changing things they need to change," Farmer said. "It's hard to think these things through, because nobody understands them."

[Citation: "Financial black swans driven by ultrafast machine ecology." By Neil Johnson, Guannan Zhao, Eric Hunsader, Jing Meng, Amith Ravindar, Spencer Carran and Brian Tivnan. arXiv, 7 February 2012; Image: Photo: © Copyright 2006, The Nasdaq Stock Market, Inc.]
 
Have entered the following positions.

Aud/usd buy 1,0726.3

Eur/aud sell 1,2257.9

Eur/chf sell 1,2082.7

Eur/gbp sell 0,8297.5

Gbp/chf buy 1,4570.3

Gbp/usd buy 1,5832.6

Usd/cad sell 0,9923.5

Classic FX 3.0
strategy value -0.83%
These positions have been closed at a loss of -1.06%


Classic FX 3.0
strategy value -1.89%
 
Have entered the following position.

Usd/cad
buy 0,9999.0

Classic FX 3.0
strategy value -1.89%


The Biggest Financial Event in History is Coming. By Gregory Mannarino - YouTube


The True Unemployment Rate: 36%
Workforce participation is the metric that really matters.
by John Hayward
02/20/2012
The True Unemployment Rate: 36% - HUMAN EVENTS

How would you define “unemployment?” Statistics on unemployment are bandied around in the media all the time. Changes in these statistics are hailed as good or bad news for the President, with varying degrees of emphasis from the news networks, depending on which party the President belongs to. But what do these statistics truly measure?

Would you define “unemployment” as measuring “people who want a job, but can’t get one?” This is, broadly speaking, the definition embraced by the Bureau of Labor Statistics. The trick to making those numbers dance lies in measuring “people who want a job.” The widely reported U-3 unemployment metric, currently standing at 8.3 percent, is very aggressive in shaving off people who have not made recent efforts to find work. It is further distorted by massive “seasonal adjustments,” which made over a million people vanish into thin air last month.

This is why the official unemployment rate gets lower when the American workforce contracts. Workforce contraction is a very bad thing. People who simply cannot find work, and languish on unemployment insurance for years, are the last thing a prosperous country needs… but those people don’t count in the official unemployment rate. For example, if everyone under the age of 25 abruptly stopped looking for work, it would be an economic disaster, but the official unemployment rate would go down, because the pool of people looking for work would get smaller.

(That’s not quite as far-fetched an example as it might sound, incidentally. Even the heavily-massaged U-3 unemployment rate currently sits at 23.2 percent for ages 16-19, and 13.3 percent for ages 20-24… and it’s about two percent higher for young men. Policies that increase the cost of labor, such as minimum-wage increases and mandated benefits, have a particularly punishing effect on young entry-level workers, since their labor has less intrinsic value than experienced older employees.)

This is precisely what has been happening under Barack Obama. The workforce is contracting with horrible speed, but it has the beneficial side effect of making the official unemployment rate go down a little, although 8.3 percent is still pathetic. The Administration bounces happily before the cameras and announces its policies are “working,” and job creation is now “on the right track,” even as their best months post job creation only slightly in excess of population growth – and they’ve only had a few such months. Pundits begin wondering if the old political rules that say re-election is impossible with unemployment over 6 or 7 percent might not apply to this President, if he can campaign on a slowly declining unemployment rate.

Another side effect of the way our unemployment statistics are prepared, and reported, comes when America's employment picture is compared to the figures from other nations. Are the unemployment statistics reported from, say, Greece or Italy calculated in precisely the same manner as the American U-3 rate? If not, then how can we make valid comparisons between them?

Since the concept of people who aren’t looking for work is so fluid, and some of those people have clearly been persuaded not to look for work because of job-destroying government policies, it might be more logical to measure unemployment using the standard incorrectly offered by the Bureau of Labor Statistics for the U-3 rate: “total unemployed, as a percent of the civilian labor force.” That’s what the U-3 rate claims to measure, but it doesn’t, not by a long shot.

What is the current percentage of working-age Americans, eligible to participate in the civilian labor force, but not currently working? Answer: 36.3 percent.

That’s the worst labor participation rate in three decades, and it’s part of the worst employment picture we’ve seen since the Great Depression. Labor force participation is the number we should really be looking at, even more than the unemployment figures cooked up on the monthly basis by the Bureau of Labor Statistics. Those figures have their uses as well, but it seems reasonable to measure the overall health of the economy by the number of people who simply are not participating in the labor force.

This would always be a much higher number than the BLS unemployment statistic, even when the economy was humming along at maximum power. There are always going to be working-age people who drop out of the labor force, for reasons that have nothing to do with the nation’s overall economic health. The labor force participation rate hasn’t exceeded 67 percent in the past decade, so we would be looking at a true “unemployment” number that bounces between roughly thirty and forty percent. The difference between good and bad percentages is relatively small, which makes the true “unemployment” figure less sexy for news coverage, and therefore less useful to politicians… but it’s more logical to measure small changes in a large, accurate number than big changes in a small, largely fantastic number.

Writing at Red State, Rep. Jim Jordan (R-OH), who chairs the House Subcommittee on Regulatory Affairs, Stimulus Oversight, and Government Spending, offers an eye-popping chart measuring the effect of President Obama’s “stimulus” policies on workforce participation:
 

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Have entered the following positions over the weekend.

Eur/chf buy
Gbp/usd sell
Nzd/usd sell


Classic FX 3.0
strategy value -3.04%

MUST HEAR! $1,000 - $4,000 SILVER: Ranting Andy Hoffman - YouTube

Stocks Log Biggest Drop in 2012 on Greek Woes

Published: Tuesday, 6 Mar 2012 | 4:35 PM ET
By: JeeYeon Park
CNBC.com Writer

Stocks closed sharply lower Tuesday, with the Dow posting its first triple-digit decline in 2012, fueled by fears over a Greek default and amid economic growth concerns.
The Dow Jones Industrial Average dropped 203.66 points, or 1.57 percent, to close at 12,759.15, logging its biggest decline since November 23, led by Caterpillar [CAT 105.93 -4.16 (-3.78%) ] and Alcoa [AA 9.47 -0.40 (-4.05%) ]. Intel [INTC 26.605 0.065 (+0.24%) ] was the only gainer on the blue-chip index.

The Dow's recent streak without a triple-digit decline was the longest since 2006.

The S&P 500 erased 20.97 points, or 1.54 percent, to end at 1,343.36. The Nasdaq dropped 40.16 points, or 1.36 percent, to finish at 2,910.32. All 10 S&P sectors closed firmly in the red, led by financials and industrials.

The CBOE Volatility Index, widely considered the best gauge of fear in the market, surged above 20 for the first time since mid-February. Meanwhile, open interest in the Vix index futures reached new all-time highs on Monday, hitting levels not seen since last June.

Global woes have weighed on equities in recent trading sessions. On Monday, stocks ended lower after China cut its 2012 growth target to an 8-year low of 7.5 percent.

The focus has since turned back to Greece as investors were jittery over the Greek debt swap deal. The bond swap plays an important role of a second bailout loan for the debt-ridden nation that aims to keep it from defaulting. European shares ended lower and gold prices dropped almost 2 percent as the euro slipped against the U.S. greenback.

Meanwhile, senior Greek finance ministry officials told CNBC the Private Sector Involvement (PSI) deal will be completed on time. The deadline is Thursday.

Earlier this week, a group representing private holders of Greek government bonds said a banks, insurers and investment funds including German insurer Allianz, French bank BNP Paribas, Germany's Commerzbank and Deutsche Bank are expected to participate in the swap.

Stocks Double in 3 Years, But Many Stay on Sidelines

“We have a risk-off trade going on because of the Greek situation…and the debt swap that’s coming up on Thursday night,” said Stephen Guilfoyle, trader at Meridian Equity Partners. “Greece is going to be in a situation where they may default and may drag the other PIIGS into it—bond yields were a bit volatile this morning for all the other PIIGS.”

Banks dropped heavily, with major financials Morgan Stanley [MS 17.32 -0.97 (-5.3%) ] and Citigroup [C 32.12 -1.56 (-4.63%) ] briefly leading the S&P 500 laggards.

Many investors have been expecting stocks to take a breather, following the recent market rally that has sent major indexes to levels not seen since 2008.

“The market seems to have been looking for an excuse to take a correction,” said Telly Zachariades, partner at The Valence Group.

Interestingly, Zachariades noted that the chemicals space acts as a leading indicator and the sector currently points to a “global economy that is on the mend."

Meanwhile, investors have also been monitoring political tensions between Iran and Israel, which have propelled oil and gas prices higher in recent weeks. Oil eased slightly in choppy trading.

President Obama said at a news conference he will "not countenance" Iran getting a nuclear weapon and signaled opportunities to settle the dispute diplomatically. This comes a day after Obama met with Israeli Prime Minister Benjamin Netanyahu.

Among techs Apple [AAPL 530.26 -2.90 (-0.54%) ] edged lower even after Barclays raised its target price on the iPad maker to $710 from $630. Investors and consumers are expecting the tech giant to unveil the iPad 3 on Wednesday.

Google [GOOG 604.96 -9.29 (-1.51%) ] and Yahoo [YHOO 14.415 -0.205 (-1.4%) ] also slipped even after Nomura started coverage of the Internet companies with "buy" and "neutral" ratings and price targets of $750 and $13.50, respectively.

Skullcandy [SKUL 13.60 -1.23 (-8.29%) ] plunged after the headphone maker announced CFO Mitch Edwards has resigned.

Internet radio company Pandora [P 14.27 -0.39 (-2.66%) ] is scheduled to post earnings after-the-bell tonight.

Merck [MRK 37.44 -1.01 (-2.63%) ] slipped after the pharmaceutical giant said it sees first-quarter earnings below estimates and warned that currency will negatively impact sales by 1-2 percent.

Consol Energy [CNX 32.90 -0.45 (-1.35%) ] slumped after the coal producer said it will halt a mining unit at its southwest Virginia Buchanan mine, due to higher stockpile and a decline in international demand. Rival Peabody Energy [BTU 30.74 -0.73 (-2.32%) ] also declined.

—Follow JeeYeon Park on Twitter: @JeeYeonParkCNBC—
 

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Have entered the following positions over the weekend.

Eur/chf buy
Gbp/usd sell
Nzd/usd sell


Classic FX 3.0
strategy value -3.04%

These positions have been closed with a gain.

Eur/chf -18.4 pips
Gbp/usd +150.1 pips
Nzd/usd +66.5 pips

Gain of +0.55%


Classic FX 3.0
strategy value -2.49%
 
Have entered the following positions.

Eur/aud buy 1,2418.3

Eur/chf sell 1,2052.8

Eur/gbp buy 0,8377.4

Eur/jpy buy 108,29.5

Gbp/chf sell 1,4392.0

Usd/cad buy 0,9912.2


Classic FX 3.0
strategy value -2.49%


Economic Collapse : Gloom and Doom OR Frightening Reality? - YouTube


Illuminati Use China to Loot the West
Illuminati Use China to Loot the West - henrymakow.com

by our Beijing Correspondent
(henrymakow.com)

The incredible scale of Chinese subversion in Western countries has gone virtually unreported.

It is most starkly revealed by a joint report on Chinese subversion between the Canadian intelligence services and police force published in 1996. Since the publication of this report, no steps have been taken to combat the subversion, a clear sign that it is Illuminati sanctioned.

The report deals solely with activity in Canada but applies to all Western countries. The report identifies the China power block to be a merger between the communists, Hong Kong tycoons and the triads. Their leader appears to be Hong Kong billionaire Sir Li Ka Shing.

By 1996, the cabal had reached a 'position in the Canadian economy that allows them to engage in intelligence activities, such as technology transfer, foreign influence and interference, identification and cultivation of persons favourable to China, and the acquisition of undue control in important Canadian economic and political circles.'

The process is simple. The cabal 'first buy a Canadian company so as to obtain "local identity", legally concealing their foreign identity. Then, the "Canadian" company invests heavily or buys other companies in various economic sectors.

'In fact, control lies in Hong Kong or Beijing, and the financial benefits or fruits of research, often paid for by Ottawa or the provinces, are likely to make their way to Asia.'

The businesses owned by the triads are 'used to pursue criminal activities, such as money-laundering and heroin trafficking, as well as assisting the ChIS (Chinese Intelligence Services).'

The report estimated that a staggering 200 Canadian companies -this was in 1996 - are under Chinese control, including some of the country's biggest banks and corporations; Merrill Lynch, Husky Oil, and the Canadian Imperial Bank of Commerce.

shing-150.jpgThe same thing is happening in other Western countries. For example Li Ka-Shing (left) recently obtained two sensitive utility companies in the UK; EDF electricity that provides electricity to 20 million people and Northumbrian Water, who provide water to 4 million people.

The Chinese are currently buying vast tracks of farmland in Australia.

The report reveals that the cabal own large chunks of our cities. For instance, Li Ka Shing owns 'one-sixth to one-third of downtown Vancouver.'

They take advantage of under-reported "foreign trade zones" popping up all over the US. These are semi-autonomous regions exempt from US trade and customs laws. A reporter from Veterans Today called up the organizers of a FTZ being set up in his area and found:

'Corporations producing whatever they produce can manufacture and export products tax-free, but if the products made in the FTZs are sold in the US, taxes are paid! By us! It's like a reverse tariff! Americans are punished for being Americans but foreigners get a free ride. And "American" corporations get a free ride.'

Boise-China.jpgChinese corp Sinomach, whose majority shareholder is the Chinese Communist Party, is planning a technology zone near Boise Idaho that would be 50 square miles in size. It would be a self-contained city encompassing manufacturing facilities, warehouses, retail centers and a large numbers of homes for Chinese workers.

Imagine it, a slice of China on US soil, what a way to further the 'End of Nations'! Will Americans allow this to happen?

Transferring Technology To China

China receives high technology from the West by a variety of means.

One conduit is universities who share the fruits of their research.

Professor C. William Kauffman is a professor of aeronautics engineering at the University of Michigan, working on military research programs. He claims his university is "transferring every bit of knowledge and know-how that we have to the People's Republic of China." This is achieved by allowing Chinese scientists and students' access to the research process.

Kauffman was incensed when a Chinese agent was appointed the head of his department. Wei Shyy was born in Taiwan but became a naturalized US citizen and built himself a very successful career in mechanical engineering. For decades he was a lead researcher on projects funded variously by the Department of Defense, NASA and the USAF.

However, throughout his career he has very publicly transferred secrets to China. Shyy has been guest professor at various Chinese universities engaged in military programs, including Nanjing University of Aeronautics and Astronautics since 1993, Chinese Academy of Sciences since 2000 and the Beijing Institute of Technology since 2003.

"How can he be allowed access to USAF [and] NASA technology and be a visiting professor at PRC institutions engaged in the weapons trade?" Kauffman asks. "This must violate 'deemed exports' and ITAR [International Traffic in Arms Regulations]."

In 2010 Wei Shyy left Michigan and became a professor at Hong Kong University of Science and Technology, taking decades of US technological development with him.

Western companies who are either bought by - or merge with - Chinese ones also transfer technology.

Michigan Senator Rick Synder owns a venture capital firm that bought NeoPhonotics, an American company rich in technological patents but low on manufacturing ability. He merged the company with a Chinese firm owned by the Chinese government. All those American patents are now Chinese!

Occasionally the Chinese receive military technology through official state deals. For instance, in 1996 Clinton sold China radiation hardened computer chip sets that are necessary for fighting a nuclear war.

However, such deals cause enormous controversy so the Illuminati prefer China to attain technology through illegal means.

The Chinese Run The Panama Canal

The Chinese control of the Panama Canal and use it as a smuggling route.

In 1997, Sir Li Ka Shing's company Hutchinson Whampoa attained two 25- year leases on the harbors at both ends of the Panama Canal.

Declassified documents from the US Commerce Department show that the Clinton administration stood back despite knowing that that Li has intimate ties to the People's Liberation Army (PLA).

Li co-owns companies with the PLA. For instance, 25 percent of "Guangzhou Aircraft Maintenance Engineering Company," a firm run by the Chinese air force and one-third of AsiaSat, a company owned in part by the Chinese army.

Allowing the cabal to own the Panama Canal, under the guise of a private corporation, is the perfect way to transfer hi-tech to China.

A intelligence report on Li's takeover concludes: "Hutchison's containerized shipping facilities in the Panama Canal, as well as the Bahamas, could provide a conduit for illegal shipments of technology or prohibited items from the West to the PRC, or facilitate the movement of arms and other prohibited items into the Americas."

Conclusion

The scale of Chinese subversion reveals how advanced the New World Order is. For a foreign elite to get so much power in the West means that our nations have been completely gutted and cannot be restored to a previous form.
 
Have entered the following positions.

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18/03/2012. Have entered the following positions.

Aud/usd buy 1,0594.2

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Webster Tarpley Intolerable Israel. - YouTube


J.P. Morgan Chase's Ugly Family Secrets Revealed


POSTED: March 13, 9:18 AM ET
J.P. Morgan Chase's Ugly Family Secrets Revealed | Matt Taibbi | Rolling Stone

In a story that should be getting lots of attention, American Banker has released an excellent and disturbing exposé of J.P. Morgan Chase's credit card services division, relying on multiple current and former Chase employees. One of them, Linda Almonte, is a whistleblower whom I've known since last September; I'm working on a recount of her story for my next book.

One of the things we were promised by the lawmakers who passed the Dodd-Frank reform bill a few years back is that this would be a new era for whistleblowers who come forward to tell the world about problems in our financial infrastructure. This story now looms as a test case for that proposition. American Banker reporter Jeff Horwitz did an outstanding job in this story detailing the sweeping irregularities in-house at Chase, but his very thoroughness means the news may have ramifications for Linda, which is why I'm urging people to pay attention to this story in the upcoming weeks.

The Cliff's Notes version of the story goes something like this: Late in 2009, Chase's credit card services division sold a parcel of nearly $200 million worth of credit card judgments to a debt collector at a discount. This common practice in the credit-card industry is a little like a bookie selling the outstanding debts of his delinquent gamblers to a leg-breaker for 25 cents on the dollar. If the leg-breaker gets half the delinquents to pay, the deal works out for both sides -- the bookie gets 25 percent of money he wasn't going to collect, and the leg-breaker makes a 100 percent profit.

In the case of credit cards, of course, you're selling the debts to collection agents, not leg-breakers, but aside from that unpleasantly minor distinction the process is the same. The most valuable kinds of sales in this world are sales of credit card judgments, in other words accounts in which the debtor has already been successfully brought to court. That, ostensibly, is what this bloc of accounts Chase sold in 2009 involved.

Almonte came to Chase in the summer of 2009 as a mid-level executive in the credit card services division's offices in San Antonio, and was quickly put in charge of preparing the documentation for this enormous sale of credit card judgments. When Chase regional offices from places like southern California and Illinois began sending in the papers for these "judgments," Almonte very soon found out that something was seriously wrong. From Horwitz's piece:

Nearly half of the files [Linda's] team sampled were missing proofs of judgment or other essential information, she wrote to colleagues. Even more worrisome, she alleged in her wrongful-termination suit, nearly a quarter of the files misstated how much the borrower owed.

In the "vast majority" of those instances, the actual debt was "lower that what Chase was representing," her suit stated.

Linda subsequently found an enormous range of errors. Some judgments, she told me, were not judgments at all. In some cases, she said, Chase actually owed the customer money.

When she brought these concerns to her superiors, what do you think their response was? They told her and others to shut up and just sell the stuff anyway. Her boss, Jason Lazinbat, allegedly told her "she had better go along with the plan to sell the misrepresented asset."

Think of the consequences of this: because Chase was so anxious to make money off this debt sale, countless credit card borrowers would now have collection agents chasing them for money they did not owe. The debt-buyer, too, was victimized by being sold accounts it could not collect on. It is almost impossible to estimate how many man-hours of pointless court proceedings would be lost because of this decision.

Anyway, when Linda refused to go along with the sale, she was fired. This was in November of 2009. She then went through a post-firing odyssey that is an epic tale in itself: her many attempts to get any of the major bank regulators interested in this case were disturbingly fruitless for a long time (although the Office of the Comptroller of the Currency is apparently looking into it now), and she struggled to find work in the industry.

She has been repeatedly harassed and has gone through all sorts of personal hardship as a result of this incident. She filed a whistleblower claim with the SEC as part of the new whistleblower program created by Dodd-Frank, but so far there's been no progress there.

When I met Linda last year, my first reaction to her story was that I was skeptical. The tale she told went far beyond the bank knowingly selling millions of dollars worth of errors into the financial system. She also recounted, firsthand, the bank's elaborate robosigning operation, which Horvitz, talking to other Chase employees, also discussed:

"We did not verify a single one" of the affidavits attesting to the amounts Chase was seeking to collect, says Howard Hardin, who oversaw a team handling tens of thousands of Chase debt files in San Antonio. "We were told [by superiors] 'We're in a hurry. Go ahead and sign them.'"

And there were other stories...suffice to say that the picture Linda painted of life inside Chase reminded me a little of Upton Sinclair's The Jungle: they were putting just about everything into those sausages. When I was writing it all up for my book I went through a period where I was waking up nights, seized with the urge to close every credit account I had – her story makes you think that most credit card companies are essentially indistinguishable from giant identity theft operations.

Again, though, when I first heard the story, I was skeptical – until I found other people in the company who verified Almonte's account, all the way down the line. Horvitz, too, found numerous employees in Chase's credit card services division who confirmed the story of the company knowingly selling a mountain of errors into the market, and manufacturing robo-signed documents to the tune of thousands per week.

The financial crash wouldn't have happened if even a slim plurality of financial executives had done what Linda Almonte did, i.e. simply refuse to sign off on a bogus transaction. If companies had merely upheld their own stated policies and stayed within the ballpark of the law, none of these messes could have accumulated: fraudulent mortgages wouldn't have been sold, families wouldn't have been foreclosed upon based on robo-signed documentation, investors wouldn't have been duped into buying huge packets of "misrepresented assets."

But most executives didn't refuse to go along, precisely because powerful companies make it so hard on people who come forward. Almonte, after being fired, entered into a modest settlement with Chase that prohibited her from coming forward publicly. At the time she entered into the settlement she was in an extremely desperate state, and she made a bad decision, taking a very bad deal.

Still, like Jeffery Wygand, the tobacco scientist from the movie The Insider, she was sitting on top of a story that, morally speaking, should not ever be protected by a confidentiality agreement -- and the subsequent lack of regulatory action eventually moved her to speak out to people like Horvitz and me. Of course, now that her story is out there in public, the concern is that the bank will move swiftly to take her to court.

This person does not have any money, so an action by Chase at this point would be purely punitive, to send a message to future whistleblowers. They'll be more likely to do it if they think no one is paying attention. I'll keep you posted on that score.
 
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